# EDGAR Filing Document

**Accession Number:** 0001051003
**File Stem:** 0001410368-25-032215
**Filing Date:** 2025-11
**Character Count:** 779108
**Document Hash:** 43cd60ead8fcf0bcc6a6343ff08cedaa
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-25-032215.hdr.sgml**: 20251126

**ACCESSION NUMBER**: 0001410368-25-032215

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251126

**DATE AS OF CHANGE**: 20251126

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BLACKROCK DEBT STRATEGIES FUND, INC.
- **CENTRAL INDEX KEY:** 0001051003

**ORGANIZATION NAME:**
- **EIN:** 223564108
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08603
- **FILM NUMBER:** 251525944

**BUSINESS ADDRESS:**
- **STREET 1:** 100 BELLEVUE PARKWAY
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19809
- **BUSINESS PHONE:** 800-441-7762

**MAIL ADDRESS:**
- **STREET 1:** 100 BELLEVUE PARKWAY
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19809

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BLACKROCK DEBT STRATEGIES FUND
- **DATE OF NAME CHANGE:** 20070611

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DEBT STRATEGIES FUND
- **DATE OF NAME CHANGE:** 20030428

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DEBT STRATEGIES FUND II INC
- **DATE OF NAME CHANGE:** 19971208

## Nport-Ex

September 30, 2025

2025 Quarterly Report <br>&nbsp;&nbsp;&nbsp;&nbsp;(Unaudited)<br>

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

**BlackRock Debt Strategies Fund, Inc. (DSU)**<br>

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

**Not FDIC Insured • May Lose Value • No Bank Guarantee**<br>

------

Schedule of Investments (unaudited)

September 30, 2025

**BlackRock Debt Strategies Fund, Inc. (DSU)** 

**(Percentages shown are based on Net Assets)**

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

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par* <br>*(000)*<br>| *Value* |
| **Asset-Backed Securities** | **Asset-Backed Securities** | **Asset-Backed Securities** | **Asset-Backed Securities** |
| &nbsp;&nbsp;&nbsp; Bryant Park Funding Ltd., Series 2024-23A, Class D1, <br> (3-mo. CME Term SOFR + 3.85%), 8.06%, <br> 05/15/37<sup>(a)(b)</sup><br>| USD | 1000 | &nbsp;&nbsp; $1021503 |
| &nbsp;&nbsp;&nbsp; Eaton Vance CLO Ltd., Series 2019-1A, Class D1R2, <br> (3-mo. CME Term SOFR + 3.35%), 7.67%, <br> 07/15/37<sup>(a)(b)</sup><br>|  | 2000 | &nbsp;&nbsp; 2008155 |
| &nbsp;&nbsp;&nbsp; Golub Capital Partners CLO Ltd., Series 2024-74A, <br> Class D1, (3-mo. CME Term SOFR + 3.20%), 7.52%, <br> 07/25/37<sup>(a)(b)</sup><br>|  | 1500 | &nbsp;&nbsp; 1515846 |
| &nbsp;&nbsp;&nbsp; Madison Park Funding LXIX Ltd., Series 2024-69A, <br> Class D1, (3-mo. CME Term SOFR + 3.35%), 7.67%, <br> 07/25/37<sup>(a)(b)</sup><br>|  | 1090 | &nbsp;&nbsp; 1103726 |
| &nbsp;&nbsp;&nbsp; Oaktree CLO Ltd., Series 2024-26A, Class D1, (3-mo. <br> CME Term SOFR + 3.45%), 7.78%, 04/20/37<sup>(a)(b)</sup><br>|  | 1500 | &nbsp;&nbsp; 1520539 |
| &nbsp;&nbsp;&nbsp; Sycamore Tree CLO Ltd., Series 2023-3A, Class D1R, <br> (3-mo. CME Term SOFR + 4.25%), 8.58%, <br> 04/20/37<sup>(a)(b)</sup><br>|  | 1590 | &nbsp;&nbsp; 1612980 |
| &nbsp;&nbsp;&nbsp; Symphony CLO Ltd., Series 2023-40A, Class D1R, (3-<br> mo. CME Term SOFR + 2.65%), 6.97%, 01/05/38<sup>(a)(b)</sup><br>|  | 1000 | &nbsp;&nbsp; 1010544 |
| **Total Asset-Backed Securities — 1.6%** <br>**(Cost: $9,680,000)** | **Total Asset-Backed Securities — 1.6%** <br>**(Cost: $9,680,000)** | **Total Asset-Backed Securities — 1.6%** <br>**(Cost: $9,680,000)** | &nbsp;&nbsp; 9793293 |

---

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

---

| | | |
|:---|:---|:---|
|  | <br>*Shares*<br>|  |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Construction & Engineering — 0.0%** | **Construction & Engineering — 0.0%** |  |
| Mcdermott International Ltd.<sup>(c)</sup> | 1131 | &nbsp;&nbsp; 22507 |
| **Electrical Equipment — 0.0%** | **Electrical Equipment — 0.0%** |  |
| SunPower Corp.<sup>(c)(d)</sup> | 1707 | &nbsp;&nbsp; — |
| **Entertainment — 0.0%** | **Entertainment — 0.0%** |  |
| &nbsp;&nbsp;&nbsp; Learfield Communications LLC, (Acquired 09/06/23, <br> Cost: $31,736)<sup>(c)(d)(e)</sup><br>| 2526 | &nbsp;&nbsp; 265230 |
| **Financial Services — 0.1%** | **Financial Services — 0.1%** |  |
| Aimbridge Acquisition Co., Inc.<sup>(c)(d)</sup> | 8773 | &nbsp;&nbsp; 565902 |
| **Ground Transportation — 0.0%** | **Ground Transportation — 0.0%** |  |
| Sirva BGRS Holdings, Inc.<sup>(c)</sup> | 1661 | &nbsp;&nbsp; 1383 |
| **Industrial Conglomerates**<sup>(c)</sup> **— 0.0%** | **Industrial Conglomerates**<sup>(c)</sup> **— 0.0%** |  |
| Ameriforge Group, Inc.<sup>(d)</sup> | 1664 | &nbsp;&nbsp; — |
| SVP Singer | 15566 | &nbsp;&nbsp; 68101 |
|  |  | &nbsp;&nbsp; 68101 |
| **IT Services — 0.1%** | **IT Services — 0.1%** |  |
| Travelport LLC<sup>(c)(d)</sup> | 230 | &nbsp;&nbsp; 694193 |
| **Semiconductors & Semiconductor Equipment — 0.0%** | **Semiconductors & Semiconductor Equipment — 0.0%** |  |
| Maxeon Solar Technologies Ltd.<sup>(c)</sup> | 2 | &nbsp;&nbsp; 7 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Trading Companies & Distributors — 0.1%** | **Trading Companies & Distributors — 0.1%** |  |
| TMK Hawk Midco Corp.<sup>(c)(d)</sup> | 24798 | &nbsp;&nbsp; $272776 |
| **Total Common Stocks — 0.3%** <br>**(Cost: $3,105,165)** | **Total Common Stocks — 0.3%** <br>**(Cost: $3,105,165)** | &nbsp;&nbsp; 1890099 |

---

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

---

| | | | |
|:---|:---|:---|:---|
|  |  | *Par* <br>*(000)*<br>|  |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Advertising Agencies — 0.3%** | **Advertising Agencies — 0.3%** | **Advertising Agencies — 0.3%** | **Advertising Agencies — 0.3%** |
| Clear Channel Outdoor Holdings, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 7.75%, 04/15/28 | USD | 188 | &nbsp;&nbsp; 187658 |
| &nbsp;&nbsp;&nbsp; 7.50%, 06/01/29 |  | 96 | &nbsp;&nbsp; 93237 |
| &nbsp;&nbsp;&nbsp; 7.88%, 04/01/30 |  | 505 | &nbsp;&nbsp; 530263 |
| &nbsp;&nbsp;&nbsp; 7.13%, 02/15/31 |  | 275 | &nbsp;&nbsp; 284254 |
| &nbsp;&nbsp;&nbsp; 7.50%, 03/15/33 |  | 320 | &nbsp;&nbsp; 334582 |
| CMG Media Corp., 8.88%, 06/18/29<sup>(b)</sup> |  | 47 | &nbsp;&nbsp; 43166 |
| Lamar Media Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.00%, 02/15/30 |  | 15 | &nbsp;&nbsp; 14360 |
| &nbsp;&nbsp;&nbsp; 5.38%, 11/01/33<sup>(b)</sup> |  | 67 | &nbsp;&nbsp; 66507 |
| Neptune Bidco U.S., Inc., 9.29%, 04/15/29<sup>(b)</sup> |  | 254 | &nbsp;&nbsp; 249349 |
| &nbsp;&nbsp;&nbsp; Outfront Media Capital LLC/Outfront Media Capital <br> Corp.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 08/15/27 |  | 24 | &nbsp;&nbsp; 23879 |
| &nbsp;&nbsp;&nbsp; 4.25%, 01/15/29 |  | 98 | &nbsp;&nbsp; 94128 |
| &nbsp;&nbsp;&nbsp; 4.63%, 03/15/30 |  | 22 | &nbsp;&nbsp; 21144 |
| &nbsp;&nbsp;&nbsp; 7.38%, 02/15/31 |  | 140 | &nbsp;&nbsp; 147692 |
| Stagwell Global LLC, 5.63%, 08/15/29<sup>(b)</sup> |  | 32 | &nbsp;&nbsp; 31086 |
|  |  |  | &nbsp;&nbsp; 2121305 |
| **Aerospace & Defense — 0.6%** | **Aerospace & Defense — 0.6%** | **Aerospace & Defense — 0.6%** | **Aerospace & Defense — 0.6%** |
| AAR Escrow Issuer LLC, 6.75%, 03/15/29<sup>(b)</sup> |  | 80 | &nbsp;&nbsp; 82354 |
| ATI, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.88%, 12/01/27 |  | 19 | &nbsp;&nbsp; 19036 |
| &nbsp;&nbsp;&nbsp; 4.88%, 10/01/29 |  | 32 | &nbsp;&nbsp; 31461 |
| &nbsp;&nbsp;&nbsp; 7.25%, 08/15/30 |  | 103 | &nbsp;&nbsp; 108118 |
| &nbsp;&nbsp;&nbsp; 5.13%, 10/01/31 |  | 88 | &nbsp;&nbsp; 86603 |
| Bombardier, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.00%, 02/15/28 |  | 105 | &nbsp;&nbsp; 105265 |
| &nbsp;&nbsp;&nbsp; 8.75%, 11/15/30 |  | 44 | &nbsp;&nbsp; 47449 |
| &nbsp;&nbsp;&nbsp; 7.25%, 07/01/31 |  | 112 | &nbsp;&nbsp; 118724 |
| &nbsp;&nbsp;&nbsp; 7.00%, 06/01/32 |  | 62 | &nbsp;&nbsp; 64801 |
| &nbsp;&nbsp;&nbsp; 6.75%, 06/15/33 |  | 106 | &nbsp;&nbsp; 110617 |
| &nbsp;&nbsp;&nbsp; Efesto Bidco SpA Efesto U.S. LLC, Series XR, 7.50%, <br> 02/15/32<sup>(b)</sup><br>|  | 444 | &nbsp;&nbsp; 451814 |
| Goat Holdco LLC, 6.75%, 02/01/32<sup>(b)</sup> |  | 85 | &nbsp;&nbsp; 87125 |
| Spirit AeroSystems, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 9.38%, 11/30/29 |  | 111 | &nbsp;&nbsp; 116907 |
| &nbsp;&nbsp;&nbsp; 9.75%, 11/15/30 |  | 128 | &nbsp;&nbsp; 140774 |
| TransDigm, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.75%, 08/15/28 |  | 129 | &nbsp;&nbsp; 131459 |
| &nbsp;&nbsp;&nbsp; 6.38%, 03/01/29 |  | 181 | &nbsp;&nbsp; 185055 |
| &nbsp;&nbsp;&nbsp; 6.63%, 03/01/32 |  | 286 | &nbsp;&nbsp; 294450 |
| &nbsp;&nbsp;&nbsp; 6.00%, 01/15/33 |  | 432 | &nbsp;&nbsp; 436788 |

---

------

Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Debt Strategies Fund, Inc. (DSU)** 

**(Percentages shown are based on Net Assets)**

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Aerospace & Defense (continued)** | **Aerospace & Defense (continued)** | **Aerospace & Defense (continued)** | **Aerospace & Defense (continued)** |
| TransDigm, Inc.<sup>(b)</sup> (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.38%, 05/31/33 | USD | 384 | &nbsp;&nbsp; $388317 |
| &nbsp;&nbsp;&nbsp; 6.25%, 01/31/34 |  | 61 | &nbsp;&nbsp; 62734 |
| &nbsp;&nbsp;&nbsp; 6.75%, 01/31/34 |  | 428 | &nbsp;&nbsp; 442535 |
|  |  |  | &nbsp;&nbsp; 3512386 |
| **Air Freight & Logistics**<sup>(b)</sup> **— 0.0%** | **Air Freight & Logistics**<sup>(b)</sup> **— 0.0%** | **Air Freight & Logistics**<sup>(b)</sup> **— 0.0%** | **Air Freight & Logistics**<sup>(b)</sup> **— 0.0%** |
| Rand Parent LLC, 8.50%, 02/15/30 |  | 57 | &nbsp;&nbsp; 59227 |
| Stonepeak Nile Parent LLC, 7.25%, 03/15/32 |  | 30 | &nbsp;&nbsp; 31591 |
|  |  |  | &nbsp;&nbsp; 90818 |
| **Automobile Components — 0.2%** | **Automobile Components — 0.2%** | **Automobile Components — 0.2%** | **Automobile Components — 0.2%** |
| American Axle & Manufacturing, Inc.<sup>(b)(f)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 10/15/32 |  | 48 | &nbsp;&nbsp; 47919 |
| &nbsp;&nbsp;&nbsp; 10/15/33 |  | 50 | &nbsp;&nbsp; 50390 |
| Clarios Global LP/Clarios U.S. Finance Co.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.75%, 05/15/28 |  | 85 | &nbsp;&nbsp; 86877 |
| &nbsp;&nbsp;&nbsp; 6.75%, 02/15/30 |  | 280 | &nbsp;&nbsp; 289243 |
| &nbsp;&nbsp;&nbsp; 4.75%, 06/15/31 | EUR | 100 | &nbsp;&nbsp; 119617 |
| &nbsp;&nbsp;&nbsp; 6.75%, 09/15/32 | USD | 216 | &nbsp;&nbsp; 220787 |
| Dana, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.25%, 09/01/30 |  | 21 | &nbsp;&nbsp; 20797 |
| &nbsp;&nbsp;&nbsp; 4.50%, 02/15/32 |  | 33 | &nbsp;&nbsp; 32494 |
| &nbsp;&nbsp;&nbsp; Garrett Motion Holdings, Inc./Garrett LX I SARL, 7.75%, <br> 05/31/32<sup>(b)</sup><br>|  | 90 | &nbsp;&nbsp; 94410 |
| Goodyear Tire & Rubber Co. |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 07/15/29 |  | 26 | &nbsp;&nbsp; 25108 |
| &nbsp;&nbsp;&nbsp; 6.63%, 07/15/30 |  | 52 | &nbsp;&nbsp; 52762 |
| &nbsp;&nbsp;&nbsp; 5.25%, 04/30/31 |  | 3 | &nbsp;&nbsp; 2835 |
| &nbsp;&nbsp;&nbsp; 5.63%, 04/30/33 |  | 30 | &nbsp;&nbsp; 27912 |
| Qnity Electronics, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.75%, 08/15/32 |  | 88 | &nbsp;&nbsp; 88671 |
| &nbsp;&nbsp;&nbsp; 6.25%, 08/15/33 |  | 68 | &nbsp;&nbsp; 69441 |
| Tenneco, Inc., 8.00%, 11/17/28<sup>(b)</sup> |  | 159 | &nbsp;&nbsp; 159290 |
|  |  |  | &nbsp;&nbsp; 1388553 |
| **Automobiles — 0.3%** | **Automobiles — 0.3%** | **Automobiles — 0.3%** | **Automobiles — 0.3%** |
| Asbury Automotive Group, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.50%, 03/01/28 |  | 39 | &nbsp;&nbsp; 38523 |
| &nbsp;&nbsp;&nbsp; 5.00%, 02/15/32<sup>(b)</sup> |  | 25 | &nbsp;&nbsp; 24006 |
| Carvana Co.<sup>(b)(g)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; (9.00% PIK), 9.00%, 06/01/30 |  | 170 | &nbsp;&nbsp; 178034 |
| &nbsp;&nbsp;&nbsp; (9.00% PIK), 9.00%, 06/01/31 |  | 631 | &nbsp;&nbsp; 714414 |
| Cougar JV Subsidiary LLC, 8.00%, 05/15/32<sup>(b)</sup> |  | 50 | &nbsp;&nbsp; 53160 |
| Group 1 Automotive, Inc., 6.38%, 01/15/30<sup>(b)</sup> |  | 34 | &nbsp;&nbsp; 34783 |
| Ken Garff Automotive LLC, 4.88%, 09/15/28<sup>(b)</sup> |  | 25 | &nbsp;&nbsp; 24477 |
| LCM Investments Holdings II LLC<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 4.88%, 05/01/29 |  | 91 | &nbsp;&nbsp; 89157 |
| &nbsp;&nbsp;&nbsp; 8.25%, 08/01/31 |  | 55 | &nbsp;&nbsp; 58168 |
| Lithia Motors, Inc., 5.50%, 10/01/30<sup>(b)</sup> |  | 55 | &nbsp;&nbsp; 54931 |
| Nissan Motor Acceptance Co. LLC, 6.13%, 09/30/30<sup>(b)</sup> |  | 142 | &nbsp;&nbsp; 142049 |
| Nissan Motor Co. Ltd.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.38%, 07/17/33 | EUR | 100 | &nbsp;&nbsp; 120875 |
| &nbsp;&nbsp;&nbsp; 8.13%, 07/17/35 | USD | 200 | &nbsp;&nbsp; 214699 |
| &nbsp;&nbsp;&nbsp; Rivian Holdings LLC/Rivian LLC/Rivian Automotive LLC, <br> 10.00%, 01/15/31<sup>(b)</sup><br>|  | 73 | &nbsp;&nbsp; 67955 |
| Venture Holdings Trust, 12.00%, 07/01/49<sup>(c)(d)(h)</sup> |  | 5150 | &nbsp;&nbsp; 1 |
| Wabash National Corp., 4.50%, 10/15/28<sup>(b)</sup> |  | 44 | &nbsp;&nbsp; 40824 |
|  |  |  | &nbsp;&nbsp; 1856056 |
| **Banks — 0.0%** | **Banks — 0.0%** | **Banks — 0.0%** | **Banks — 0.0%** |
| Banco Espirito Santo SA<sup>(c)(h)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 2.63%, 05/08/17<sup>(i)</sup> | EUR | 100 | &nbsp;&nbsp; 25829 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| Banco Espirito Santo SA<sup>(c)(h)</sup> (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.75%, 01/15/22<sup>(a)</sup> | EUR | 200 | &nbsp;&nbsp; $51658 |
| &nbsp;&nbsp;&nbsp; 4.00%, 01/21/22 |  | 100 | &nbsp;&nbsp; 25829 |
| Walker & Dunlop, Inc., 6.63%, 04/01/33<sup>(b)</sup> | USD | 37 | &nbsp;&nbsp; 37838 |
|  |  |  | &nbsp;&nbsp; 141154 |
| **Building Materials — 0.5%** | **Building Materials — 0.5%** | **Building Materials — 0.5%** | **Building Materials — 0.5%** |
| AmeriTex HoldCo Intermediate LLC, 7.63%, 08/15/33<sup>(b)</sup> |  | 70 | &nbsp;&nbsp; 72855 |
| Builders FirstSource, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.38%, 03/01/34 |  | 38 | &nbsp;&nbsp; 39144 |
| &nbsp;&nbsp;&nbsp; 6.75%, 05/15/35 |  | 52 | &nbsp;&nbsp; 54295 |
| CP Atlas Buyer, Inc., 9.75%, 07/15/30<sup>(b)</sup> |  | 22 | &nbsp;&nbsp; 23041 |
| EMRLD Borrower LP/Emerald Co-Issuer, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.63%, 12/15/30 |  | 632 | &nbsp;&nbsp; 649664 |
| &nbsp;&nbsp;&nbsp; 6.75%, 07/15/31 |  | 309 | &nbsp;&nbsp; 320944 |
| Jeld-Wen, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 4.88%, 12/15/27 |  | 54 | &nbsp;&nbsp; 52696 |
| &nbsp;&nbsp;&nbsp; 7.00%, 09/01/32 |  | 53 | &nbsp;&nbsp; 44757 |
| JH North America Holdings, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.88%, 01/31/31 |  | 75 | &nbsp;&nbsp; 76149 |
| &nbsp;&nbsp;&nbsp; 6.13%, 07/31/32 |  | 67 | &nbsp;&nbsp; 68626 |
| New Enterprise Stone & Lime Co., Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.25%, 07/15/28 |  | 26 | &nbsp;&nbsp; 25760 |
| &nbsp;&nbsp;&nbsp; 9.75%, 07/15/28 |  | 59 | &nbsp;&nbsp; 59131 |
| Quikrete Holdings, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.38%, 03/01/32 |  | 411 | &nbsp;&nbsp; 425732 |
| &nbsp;&nbsp;&nbsp; 6.75%, 03/01/33 |  | 80 | &nbsp;&nbsp; 83176 |
| Smyrna Ready Mix Concrete LLC<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.00%, 11/01/28 |  | 9 | &nbsp;&nbsp; 9003 |
| &nbsp;&nbsp;&nbsp; 8.88%, 11/15/31 |  | 71 | &nbsp;&nbsp; 74972 |
| Standard Building Solutions, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.50%, 08/15/32 |  | 270 | &nbsp;&nbsp; 277026 |
| &nbsp;&nbsp;&nbsp; 6.25%, 08/01/33 |  | 198 | &nbsp;&nbsp; 200650 |
| Standard Industries, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 2.25%, 11/21/26<sup>(i)</sup> | EUR | 73 | &nbsp;&nbsp; 85443 |
| &nbsp;&nbsp;&nbsp; 4.38%, 07/15/30<sup>(b)</sup> | USD | 141 | &nbsp;&nbsp; 135188 |
| &nbsp;&nbsp;&nbsp; 3.38%, 01/15/31<sup>(b)</sup> |  | 34 | &nbsp;&nbsp; 30789 |
| Wilsonart LLC, 11.00%, 08/15/32<sup>(b)</sup> |  | 177 | &nbsp;&nbsp; 172300 |
|  |  |  | &nbsp;&nbsp; 2981341 |
| **Building Products**<sup>(b)</sup> **— 0.2%** | **Building Products**<sup>(b)</sup> **— 0.2%** | **Building Products**<sup>(b)</sup> **— 0.2%** | **Building Products**<sup>(b)</sup> **— 0.2%** |
| Foundation Building Materials, Inc., 6.00%, 03/01/29 |  | 5 | &nbsp;&nbsp; 5068 |
| Park River Holdings, Inc., 03/15/31<sup>(f)</sup> |  | 53 | &nbsp;&nbsp; 53672 |
| QXO Building Products, Inc., 6.75%, 04/30/32 |  | 270 | &nbsp;&nbsp; 279557 |
| White Cap Buyer LLC, 6.88%, 10/15/28 |  | 737 | &nbsp;&nbsp; 734811 |
|  |  |  | &nbsp;&nbsp; 1073108 |
| **Capital Markets — 0.3%** | **Capital Markets — 0.3%** | **Capital Markets — 0.3%** | **Capital Markets — 0.3%** |
| Apollo Debt Solutions BDC |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.88%, 08/30/30<sup>(b)</sup> |  | 51 | &nbsp;&nbsp; 51895 |
| &nbsp;&nbsp;&nbsp; 6.70%, 07/29/31 |  | 35 | &nbsp;&nbsp; 37093 |
| &nbsp;&nbsp;&nbsp; 6.55%, 03/15/32<sup>(b)</sup> |  | 9 | &nbsp;&nbsp; 9445 |
| ARES Strategic Income Fund |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.60%, 02/15/30 |  | 29 | &nbsp;&nbsp; 29283 |
| &nbsp;&nbsp;&nbsp; 5.80%, 09/09/30<sup>(b)</sup> |  | 60 | &nbsp;&nbsp; 60973 |
| &nbsp;&nbsp;&nbsp; 5.15%, 01/15/31<sup>(b)</sup> |  | 55 | &nbsp;&nbsp; 54345 |
| Bain Capital Specialty Finance, Inc., 5.95%, 03/15/30 |  | 15 | &nbsp;&nbsp; 15077 |
| Blackstone Private Credit Fund, 6.00%, 11/22/34 |  | 139 | &nbsp;&nbsp; 142343 |
| Blue Owl Capital Corp., 6.20%, 07/15/30 |  | 135 | &nbsp;&nbsp; 138821 |
| Blue Owl Capital Corp. II, 8.45%, 11/15/26 |  | 28 | &nbsp;&nbsp; 29007 |
| Blue Owl Technology Finance Corp., 6.75%, 04/04/29 |  | 16 | &nbsp;&nbsp; 16507 |
| &nbsp;&nbsp;&nbsp; Compass Group Diversified Holdings LLC, 5.25%, <br> 04/15/29<sup>(b)</sup><br>|  | 66 | &nbsp;&nbsp; 61099 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Debt Strategies Fund, Inc. (DSU)** 

**(Percentages shown are based on Net Assets)**

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Capital Markets (continued)** | **Capital Markets (continued)** | **Capital Markets (continued)** | **Capital Markets (continued)** |
| Focus Financial Partners LLC, 6.75%, 09/15/31<sup>(b)</sup> | USD | 202 | &nbsp;&nbsp; $206872 |
| &nbsp;&nbsp;&nbsp; HA Sustainable Infrastructure Capital, Inc., 6.38%, <br> 07/01/34<br>|  | 39 | &nbsp;&nbsp; 39691 |
| &nbsp;&nbsp;&nbsp; HAT Holdings I LLC/HAT Holdings II LLC, 8.00%, <br> 06/15/27<sup>(b)</sup><br>|  | 15 | &nbsp;&nbsp; 15616 |
| Icahn Enterprises LP/Icahn Enterprises Finance Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.25%, 05/15/27 |  | 170 | &nbsp;&nbsp; 167101 |
| &nbsp;&nbsp;&nbsp; 9.75%, 01/15/29 |  | 42 | &nbsp;&nbsp; 42389 |
| &nbsp;&nbsp;&nbsp; 4.38%, 02/01/29 |  | 31 | &nbsp;&nbsp; 26760 |
| &nbsp;&nbsp;&nbsp; 10.00%, 11/15/29<sup>(b)</sup> |  | 158 | &nbsp;&nbsp; 158698 |
| Jane Street Group/JSG Finance, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.13%, 11/01/32 |  | 24 | &nbsp;&nbsp; 24325 |
| &nbsp;&nbsp;&nbsp; 6.75%, 05/01/33 |  | 40 | &nbsp;&nbsp; 41545 |
| JPMorgan Chase Financial Co. LLC, 0.50%, 06/15/27<sup>(j)</sup> |  | 100 | &nbsp;&nbsp; 115800 |
| Osaic Holdings, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.75%, 08/01/32 |  | 40 | &nbsp;&nbsp; 41313 |
| &nbsp;&nbsp;&nbsp; 8.00%, 08/01/33 |  | 68 | &nbsp;&nbsp; 70475 |
|  |  |  | &nbsp;&nbsp; 1596473 |
| **Chemicals — 0.7%** | **Chemicals — 0.7%** | **Chemicals — 0.7%** | **Chemicals — 0.7%** |
| &nbsp;&nbsp;&nbsp; Advancion Sciences, Inc., (9.25% Cash or 10.00% PIK), <br> 9.25%, 11/01/26<sup>(b)(g)</sup><br>|  | 100 | &nbsp;&nbsp; 88209 |
| Avient Corp., 6.25%, 11/01/31<sup>(b)</sup> |  | 37 | &nbsp;&nbsp; 37574 |
| &nbsp;&nbsp;&nbsp; Axalta Coating Systems Dutch Holding B BV, 7.25%, <br> 02/15/31<sup>(b)</sup><br>|  | 300 | &nbsp;&nbsp; 313866 |
| Celanese U.S. Holdings LLC, 6.75%, 04/15/33 |  | 47 | &nbsp;&nbsp; 46802 |
| Chemours Co. |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.38%, 05/15/27 |  | 96 | &nbsp;&nbsp; 95921 |
| &nbsp;&nbsp;&nbsp; 5.75%, 11/15/28<sup>(b)</sup> |  | 184 | &nbsp;&nbsp; 179469 |
| &nbsp;&nbsp;&nbsp; 8.00%, 01/15/33<sup>(b)</sup> |  | 73 | &nbsp;&nbsp; 72610 |
| Element Solutions, Inc., 3.88%, 09/01/28<sup>(b)</sup> |  | 590 | &nbsp;&nbsp; 571788 |
| Herens Holdco SARL, 4.75%, 05/15/28<sup>(b)</sup> |  | 200 | &nbsp;&nbsp; 175218 |
| &nbsp;&nbsp;&nbsp; Illuminate Buyer LLC/Illuminate Holdings IV, Inc., 9.00%, <br> 07/01/28<sup>(b)</sup><br>|  | 77 | &nbsp;&nbsp; 77243 |
| Ingevity Corp., 3.88%, 11/01/28<sup>(b)</sup> |  | 23 | &nbsp;&nbsp; 22099 |
| Mativ Holdings, Inc., 8.00%, 10/01/29<sup>(b)</sup> |  | 35 | &nbsp;&nbsp; 34652 |
| Methanex U.S. Operations, Inc., 6.25%, 03/15/32<sup>(b)</sup> |  | 51 | &nbsp;&nbsp; 51891 |
| Minerals Technologies, Inc., 5.00%, 07/01/28<sup>(b)</sup> |  | 55 | &nbsp;&nbsp; 53900 |
| Olympus Water U.S. Holding Corp.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 9.75%, 11/15/28 |  | 200 | &nbsp;&nbsp; 209900 |
| &nbsp;&nbsp;&nbsp; 7.25%, 06/15/31 |  | 400 | &nbsp;&nbsp; 405510 |
| &nbsp;&nbsp;&nbsp; 02/15/33<sup>(f)</sup> |  | 484 | &nbsp;&nbsp; 484504 |
| SK Invictus Intermediate II SARL, 5.00%, 10/30/29<sup>(b)</sup> |  | 185 | &nbsp;&nbsp; 181070 |
| Solstice Advanced Materials, Inc., 5.63%, 09/30/33<sup>(b)</sup> |  | 131 | &nbsp;&nbsp; 131433 |
| WR Grace Holdings LLC<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 4.88%, 06/15/27 |  | 49 | &nbsp;&nbsp; 48696 |
| &nbsp;&nbsp;&nbsp; 5.63%, 08/15/29 |  | 1071 | &nbsp;&nbsp; 995492 |
| &nbsp;&nbsp;&nbsp; 7.38%, 03/01/31 |  | 148 | &nbsp;&nbsp; 150932 |
| &nbsp;&nbsp;&nbsp; 6.63%, 08/15/32 |  | 169 | &nbsp;&nbsp; 167104 |
|  |  |  | &nbsp;&nbsp; 4595883 |
| **Commercial Services & Supplies — 1.1%** | **Commercial Services & Supplies — 1.1%** | **Commercial Services & Supplies — 1.1%** | **Commercial Services & Supplies — 1.1%** |
| ADT Security Corp.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 4.88%, 07/15/32 |  | 55 | &nbsp;&nbsp; 53264 |
| &nbsp;&nbsp;&nbsp; 10/15/33<sup>(f)</sup> |  | 144 | &nbsp;&nbsp; 144000 |
| &nbsp;&nbsp;&nbsp; Albion Financing 1 SARL/Aggreko Holdings, Inc., 7.00%, <br> 05/21/30<sup>(b)</sup><br>|  | 200 | &nbsp;&nbsp; 206860 |
| Allied Universal Holdco LLC, 7.88%, 02/15/31<sup>(b)</sup> |  | 980 | &nbsp;&nbsp; 1027526 |
| &nbsp;&nbsp;&nbsp; Allied Universal Holdco LLC/Allied Universal Finance <br> Corp.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.00%, 06/01/29 |  | 515 | &nbsp;&nbsp; 506273 |
| &nbsp;&nbsp;&nbsp; 6.88%, 06/15/30 |  | 220 | &nbsp;&nbsp; 226123 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Commercial Services & Supplies (continued)** | **Commercial Services & Supplies (continued)** | **Commercial Services & Supplies (continued)** | **Commercial Services & Supplies (continued)** |
| &nbsp;&nbsp;&nbsp; Allied Universal Holdco LLC/Allied Universal Finance <br> Corp./Atlas Luxco 4 SARL, 4.63%, 06/01/28<sup>(b)</sup><br>| USD | 400 | &nbsp;&nbsp; $392146 |
| Belron U.K. Finance PLC, 5.75%, 10/15/29<sup>(b)</sup> |  | 200 | &nbsp;&nbsp; 202607 |
| Brink's Co.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.50%, 06/15/29 |  | 39 | &nbsp;&nbsp; 40135 |
| &nbsp;&nbsp;&nbsp; 6.75%, 06/15/32 |  | 193 | &nbsp;&nbsp; 200748 |
| Deluxe Corp., 8.13%, 09/15/29<sup>(b)</sup> |  | 31 | &nbsp;&nbsp; 32371 |
| EquipmentShare.com, Inc., 8.00%, 03/15/33<sup>(b)</sup> |  | 76 | &nbsp;&nbsp; 81224 |
| FTAI Aviation Investors LLC<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.50%, 05/01/28 |  | 248 | &nbsp;&nbsp; 248039 |
| &nbsp;&nbsp;&nbsp; 7.88%, 12/01/30 |  | 161 | &nbsp;&nbsp; 171086 |
| &nbsp;&nbsp;&nbsp; 7.00%, 05/01/31 |  | 248 | &nbsp;&nbsp; 259422 |
| &nbsp;&nbsp;&nbsp; 7.00%, 06/15/32 |  | 528 | &nbsp;&nbsp; 552564 |
| &nbsp;&nbsp;&nbsp; 5.88%, 04/15/33 |  | 107 | &nbsp;&nbsp; 107671 |
| Garda World Security Corp.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 4.63%, 02/15/27 |  | 70 | &nbsp;&nbsp; 69469 |
| &nbsp;&nbsp;&nbsp; 7.75%, 02/15/28 |  | 123 | &nbsp;&nbsp; 126088 |
| &nbsp;&nbsp;&nbsp; 6.00%, 06/01/29 |  | 16 | &nbsp;&nbsp; 15863 |
| &nbsp;&nbsp;&nbsp; 8.25%, 08/01/32 |  | 224 | &nbsp;&nbsp; 232197 |
| &nbsp;&nbsp;&nbsp; 8.38%, 11/15/32 |  | 631 | &nbsp;&nbsp; 654995 |
| Herc Holdings, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 7.00%, 06/15/30 |  | 120 | &nbsp;&nbsp; 124647 |
| &nbsp;&nbsp;&nbsp; 7.25%, 06/15/33 |  | 61 | &nbsp;&nbsp; 63678 |
| Hertz Corp., 12.63%, 07/15/29<sup>(b)</sup> |  | 36 | &nbsp;&nbsp; 38165 |
| RR Donnelley & Sons Co., 9.50%, 08/01/29<sup>(b)</sup> |  | 262 | &nbsp;&nbsp; 268515 |
| Service Corp. International |  |  |  |
| &nbsp;&nbsp;&nbsp; 3.38%, 08/15/30 |  | 2 | &nbsp;&nbsp; 1853 |
| &nbsp;&nbsp;&nbsp; 4.00%, 05/15/31 |  | 49 | &nbsp;&nbsp; 46199 |
| &nbsp;&nbsp;&nbsp; 5.75%, 10/15/32 |  | 420 | &nbsp;&nbsp; 425493 |
| Sotheby's/Bidfair Holdings, Inc., 5.88%, 06/01/29<sup>(b)</sup> |  | 202 | &nbsp;&nbsp; 184059 |
| Veritiv Operating Co., 10.50%, 11/30/30<sup>(b)</sup> |  | 41 | &nbsp;&nbsp; 44002 |
| Wand NewCo 3, Inc., 7.63%, 01/30/32<sup>(b)</sup> |  | 188 | &nbsp;&nbsp; 198080 |
|  |  |  | &nbsp;&nbsp; 6945362 |
| **Communications Equipment**<sup>(b)</sup> **— 0.0%** | **Communications Equipment**<sup>(b)</sup> **— 0.0%** | **Communications Equipment**<sup>(b)</sup> **— 0.0%** | **Communications Equipment**<sup>(b)</sup> **— 0.0%** |
| CommScope LLC, 4.75%, 09/01/29 |  | 203 | &nbsp;&nbsp; 201697 |
| Viavi Solutions, Inc., 3.75%, 10/01/29 |  | 31 | &nbsp;&nbsp; 29227 |
|  |  |  | &nbsp;&nbsp; 230924 |
| **Construction & Engineering**<sup>(b)</sup> **— 0.2%** | **Construction & Engineering**<sup>(b)</sup> **— 0.2%** | **Construction & Engineering**<sup>(b)</sup> **— 0.2%** | **Construction & Engineering**<sup>(b)</sup> **— 0.2%** |
| AECOM, 6.00%, 08/01/33 |  | 220 | &nbsp;&nbsp; 224926 |
| Arcosa, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.38%, 04/15/29 |  | 117 | &nbsp;&nbsp; 113769 |
| &nbsp;&nbsp;&nbsp; 6.88%, 08/15/32 |  | 125 | &nbsp;&nbsp; 130562 |
| Brand Industrial Services, Inc., 10.38%, 08/01/30 |  | 586 | &nbsp;&nbsp; 584132 |
| Dycom Industries, Inc., 4.50%, 04/15/29 |  | 37 | &nbsp;&nbsp; 36136 |
|  |  |  | &nbsp;&nbsp; 1089525 |
| **Consumer Discretionary**<sup>(b)</sup> **— 0.2%** | **Consumer Discretionary**<sup>(b)</sup> **— 0.2%** | **Consumer Discretionary**<sup>(b)</sup> **— 0.2%** | **Consumer Discretionary**<sup>(b)</sup> **— 0.2%** |
| APi Group DE, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.13%, 07/15/29 |  | 67 | &nbsp;&nbsp; 64575 |
| &nbsp;&nbsp;&nbsp; 4.75%, 10/15/29 |  | 32 | &nbsp;&nbsp; 31370 |
| Clarivate Science Holdings Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; 3.88%, 07/01/28 |  | 328 | &nbsp;&nbsp; 315651 |
| &nbsp;&nbsp;&nbsp; 4.88%, 07/01/29 |  | 180 | &nbsp;&nbsp; 170105 |
| Raven Acquisition Holdings LLC, 6.88%, 11/15/31 |  | 106 | &nbsp;&nbsp; 108933 |
| Williams Scotsman, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.63%, 06/15/29 |  | 71 | &nbsp;&nbsp; 72623 |
| &nbsp;&nbsp;&nbsp; 6.63%, 04/15/30 |  | 222 | &nbsp;&nbsp; 228497 |
| &nbsp;&nbsp;&nbsp; 7.38%, 10/01/31 |  | 49 | &nbsp;&nbsp; 51173 |
|  |  |  | &nbsp;&nbsp; 1042927 |
| **Consumer Finance — 0.5%** | **Consumer Finance — 0.5%** | **Consumer Finance — 0.5%** | **Consumer Finance — 0.5%** |
| Block, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 2.75%, 06/01/26 |  | 63 | &nbsp;&nbsp; 62172 |

---

------

Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Debt Strategies Fund, Inc. (DSU)** 

**(Percentages shown are based on Net Assets)**

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Consumer Finance (continued)** | **Consumer Finance (continued)** | **Consumer Finance (continued)** | **Consumer Finance (continued)** |
| Block, Inc. (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.63%, 08/15/30<sup>(b)</sup> | USD | 108 | &nbsp;&nbsp; $109423 |
| &nbsp;&nbsp;&nbsp; 6.50%, 05/15/32 |  | 438 | &nbsp;&nbsp; 453333 |
| &nbsp;&nbsp;&nbsp; 6.00%, 08/15/33<sup>(b)</sup> |  | 166 | &nbsp;&nbsp; 169991 |
| Boost Newco Borrower LLC, 7.50%, 01/15/31<sup>(b)</sup> |  | 400 | &nbsp;&nbsp; 424358 |
| &nbsp;&nbsp;&nbsp; Bread Financial Holdings, Inc., (5-year CMT + 4.30%), <br> 8.38%, 06/15/35<sup>(a)(b)</sup><br>|  | 11 | &nbsp;&nbsp; 11295 |
| ION Platform Finance U.S., Inc., 09/30/32<sup>(b)(f)</sup> |  | 295 | &nbsp;&nbsp; 293062 |
| Navient Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; 9.38%, 07/25/30 |  | 49 | &nbsp;&nbsp; 54158 |
| &nbsp;&nbsp;&nbsp; 7.88%, 06/15/32 |  | 74 | &nbsp;&nbsp; 77867 |
| OneMain Finance Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.63%, 05/15/29 |  | 113 | &nbsp;&nbsp; 116149 |
| &nbsp;&nbsp;&nbsp; 5.38%, 11/15/29 |  | 70 | &nbsp;&nbsp; 69206 |
| &nbsp;&nbsp;&nbsp; 7.88%, 03/15/30 |  | 72 | &nbsp;&nbsp; 76187 |
| &nbsp;&nbsp;&nbsp; 6.13%, 05/15/30 |  | 104 | &nbsp;&nbsp; 105319 |
| &nbsp;&nbsp;&nbsp; 4.00%, 09/15/30 |  | 95 | &nbsp;&nbsp; 88308 |
| &nbsp;&nbsp;&nbsp; 7.50%, 05/15/31 |  | 21 | &nbsp;&nbsp; 21953 |
| &nbsp;&nbsp;&nbsp; 7.13%, 11/15/31 |  | 52 | &nbsp;&nbsp; 53923 |
| &nbsp;&nbsp;&nbsp; 6.75%, 03/15/32 |  | 160 | &nbsp;&nbsp; 162963 |
| &nbsp;&nbsp;&nbsp; 7.13%, 09/15/32 |  | 68 | &nbsp;&nbsp; 70247 |
| &nbsp;&nbsp;&nbsp; 6.50%, 03/15/33 |  | 136 | &nbsp;&nbsp; 136215 |
| &nbsp;&nbsp;&nbsp; Shift4 Payments LLC/Shift4 Payments Finance Sub, <br> Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.75%, 08/15/32 |  | 262 | &nbsp;&nbsp; 270880 |
| &nbsp;&nbsp;&nbsp; 5.50%, 05/15/33 | EUR | 100 | &nbsp;&nbsp; 122248 |
| WEX, Inc., 6.50%, 03/15/33<sup>(b)</sup> | USD | 176 | &nbsp;&nbsp; 179746 |
|  |  |  | &nbsp;&nbsp; 3129003 |
| **Consumer Staples Distribution & Retail**<sup>(b)</sup> **— 0.1%** | **Consumer Staples Distribution & Retail**<sup>(b)</sup> **— 0.1%** | **Consumer Staples Distribution & Retail**<sup>(b)</sup> **— 0.1%** | **Consumer Staples Distribution & Retail**<sup>(b)</sup> **— 0.1%** |
| &nbsp;&nbsp;&nbsp; Albertsons Cos., Inc./Safeway, Inc./New Albertsons <br> LP/Albertsons LLC, 6.25%, 03/15/33<br>|  | 246 | &nbsp;&nbsp; 251584 |
| Boots Group Finco LP, 5.38%, 08/31/32 | EUR | 115 | &nbsp;&nbsp; 138898 |
| &nbsp;&nbsp;&nbsp; KeHE Distributors LLC/KeHE Finance Corp./NextWave <br> Distribution, Inc., 9.00%, 02/15/29<br>| USD | 39 | &nbsp;&nbsp; 41034 |
| Performance Food Group, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.25%, 08/01/29 |  | 41 | &nbsp;&nbsp; 39827 |
| &nbsp;&nbsp;&nbsp; 6.13%, 09/15/32 |  | 190 | &nbsp;&nbsp; 194619 |
| U.S. Foods, Inc., 7.25%, 01/15/32 |  | 60 | &nbsp;&nbsp; 62817 |
| United Natural Foods, Inc., 6.75%, 10/15/28 |  | 65 | &nbsp;&nbsp; 64995 |
|  |  |  | &nbsp;&nbsp; 793774 |
| **Containers & Packaging — 0.6%** | **Containers & Packaging — 0.6%** | **Containers & Packaging — 0.6%** | **Containers & Packaging — 0.6%** |
| &nbsp;&nbsp;&nbsp; Ardagh Metal Packaging Finance USA LLC/Ardagh Metal <br> Packaging Finance PLC<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.00%, 06/15/27 |  | 200 | &nbsp;&nbsp; 199952 |
| &nbsp;&nbsp;&nbsp; 4.00%, 09/01/29 |  | 285 | &nbsp;&nbsp; 263772 |
| &nbsp;&nbsp;&nbsp; Ardagh Packaging Finance PLC/Ardagh Holdings USA, <br> Inc.<br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 2.13%, 08/15/26<sup>(i)</sup> | EUR | 100 | &nbsp;&nbsp; 114168 |
| &nbsp;&nbsp;&nbsp; 4.13%, 08/15/26<sup>(b)(d)</sup> | USD | 200 | &nbsp;&nbsp; 192000 |
| Ball Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.25%, 07/01/32 | EUR | 100 | &nbsp;&nbsp; 120084 |
| &nbsp;&nbsp;&nbsp; 5.50%, 09/15/33 | USD | 62 | &nbsp;&nbsp; 62666 |
| Clydesdale Acquisition Holdings, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.63%, 04/15/29 |  | 49 | &nbsp;&nbsp; 49558 |
| &nbsp;&nbsp;&nbsp; 6.88%, 01/15/30 |  | 143 | &nbsp;&nbsp; 146691 |
| &nbsp;&nbsp;&nbsp; 8.75%, 04/15/30 |  | 189 | &nbsp;&nbsp; 194149 |
| &nbsp;&nbsp;&nbsp; 6.75%, 04/15/32 |  | 411 | &nbsp;&nbsp; 421629 |
| Crown Americas LLC, 5.88%, 06/01/33<sup>(b)</sup> |  | 165 | &nbsp;&nbsp; 166668 |
| LABL, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.88%, 11/01/28 |  | 83 | &nbsp;&nbsp; 64309 |
| &nbsp;&nbsp;&nbsp; 9.50%, 11/01/28 |  | 131 | &nbsp;&nbsp; 111290 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Containers & Packaging (continued)** | **Containers & Packaging (continued)** | **Containers & Packaging (continued)** | **Containers & Packaging (continued)** |
| LABL, Inc.<sup>(b)</sup> (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp; 8.63%, 10/01/31 | USD | 148 | &nbsp;&nbsp; $108726 |
| Magnera Corp., 7.25%, 11/15/31<sup>(b)</sup> |  | 33 | &nbsp;&nbsp; 31052 |
| Mauser Packaging Solutions Holding Co.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 7.88%, 04/15/27 |  | 1062 | &nbsp;&nbsp; 1072411 |
| &nbsp;&nbsp;&nbsp; 9.25%, 04/15/27 |  | 65 | &nbsp;&nbsp; 65149 |
| Sealed Air Corp.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 4.00%, 12/01/27 |  | 19 | &nbsp;&nbsp; 18646 |
| &nbsp;&nbsp;&nbsp; 5.00%, 04/15/29 |  | 15 | &nbsp;&nbsp; 14916 |
| &nbsp;&nbsp;&nbsp; 6.50%, 07/15/32 |  | 23 | &nbsp;&nbsp; 23821 |
| Silgan Holdings, Inc., 02/15/31<sup>(b)(f)</sup> | EUR | 100 | &nbsp;&nbsp; 117879 |
|  |  |  | &nbsp;&nbsp; 3559536 |
| **Distributors**<sup>(b)</sup> **— 0.0%** | **Distributors**<sup>(b)</sup> **— 0.0%** | **Distributors**<sup>(b)</sup> **— 0.0%** | **Distributors**<sup>(b)</sup> **— 0.0%** |
| Gates Corp./DE, 6.88%, 07/01/29 | USD | 74 | &nbsp;&nbsp; 76786 |
| Resideo Funding, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.00%, 09/01/29 |  | 18 | &nbsp;&nbsp; 17194 |
| &nbsp;&nbsp;&nbsp; 6.50%, 07/15/32 |  | 91 | &nbsp;&nbsp; 93266 |
|  |  |  | &nbsp;&nbsp; 187246 |
| **Diversified REITs — 0.2%** | **Diversified REITs — 0.2%** | **Diversified REITs — 0.2%** | **Diversified REITs — 0.2%** |
| Digital Realty Trust LP, 1.88%, 11/15/29<sup>(b)(j)</sup> |  | 20 | &nbsp;&nbsp; 21000 |
| &nbsp;&nbsp;&nbsp; Global Net Lease, Inc./Global Net Lease Operating <br> Partnership LP, 3.75%, 12/15/27<sup>(b)</sup><br>|  | 35 | &nbsp;&nbsp; 33971 |
| &nbsp;&nbsp;&nbsp; Iron Mountain Information Management Services, Inc., <br> 5.00%, 07/15/32<sup>(b)</sup><br>|  | 138 | &nbsp;&nbsp; 132969 |
| Iron Mountain, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.25%, 07/15/30 |  | 6 | &nbsp;&nbsp; 5934 |
| &nbsp;&nbsp;&nbsp; 5.63%, 07/15/32 |  | 44 | &nbsp;&nbsp; 43765 |
| &nbsp;&nbsp;&nbsp; 6.25%, 01/15/33 |  | 130 | &nbsp;&nbsp; 132602 |
| &nbsp;&nbsp;&nbsp; 4.75%, 01/15/34 | EUR | 100 | &nbsp;&nbsp; 117664 |
| Millrose Properties, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.38%, 08/01/30 | USD | 172 | &nbsp;&nbsp; 174922 |
| &nbsp;&nbsp;&nbsp; 6.25%, 09/15/32 |  | 88 | &nbsp;&nbsp; 88230 |
| SBA Communications Corp., 3.13%, 02/01/29 |  | 170 | &nbsp;&nbsp; 159003 |
| &nbsp;&nbsp;&nbsp; Uniti Group LP/Uniti Group Finance 2019, Inc./CSL <br> Capital LLC, 10.50%, 02/15/28<sup>(b)</sup><br>|  | 451 | &nbsp;&nbsp; 474993 |
|  |  |  | &nbsp;&nbsp; 1385053 |
| **Diversified Telecommunication Services — 1.0%** | **Diversified Telecommunication Services — 1.0%** | **Diversified Telecommunication Services — 1.0%** | **Diversified Telecommunication Services — 1.0%** |
| Altice Financing SA, 5.75%, 08/15/29<sup>(b)</sup> |  | 200 | &nbsp;&nbsp; 150500 |
| &nbsp;&nbsp;&nbsp; Connect Finco SARL/Connect U.S. Finco LLC, 9.00%, <br> 09/15/29<sup>(b)</sup><br>|  | 200 | &nbsp;&nbsp; 210281 |
| EchoStar Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; (6.75% PIK), 6.75%, 11/30/30<sup>(g)</sup> |  | 698 | &nbsp;&nbsp; 719917 |
| &nbsp;&nbsp;&nbsp; 10.75%, 11/30/29 |  | 334 | &nbsp;&nbsp; 367216 |
| Frontier Communications Holdings LLC |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.88%, 10/15/27<sup>(b)</sup> |  | 12 | &nbsp;&nbsp; 11993 |
| &nbsp;&nbsp;&nbsp; 5.00%, 05/01/28<sup>(b)</sup> |  | 21 | &nbsp;&nbsp; 20953 |
| &nbsp;&nbsp;&nbsp; 6.75%, 05/01/29<sup>(b)</sup> |  | 28 | &nbsp;&nbsp; 28279 |
| &nbsp;&nbsp;&nbsp; 5.88%, 11/01/29 |  | 46 | &nbsp;&nbsp; 46824 |
| &nbsp;&nbsp;&nbsp; 6.00%, 01/15/30<sup>(b)</sup> |  | 59 | &nbsp;&nbsp; 59694 |
| &nbsp;&nbsp;&nbsp; 8.75%, 05/15/30<sup>(b)</sup> |  | 494 | &nbsp;&nbsp; 516055 |
| &nbsp;&nbsp;&nbsp; 8.63%, 03/15/31<sup>(b)</sup> |  | 98 | &nbsp;&nbsp; 103317 |
| Level 3 Financing, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 3.63%, 01/15/29 |  | 18 | &nbsp;&nbsp; 15578 |
| &nbsp;&nbsp;&nbsp; 4.88%, 06/15/29 |  | 250 | &nbsp;&nbsp; 235025 |
| &nbsp;&nbsp;&nbsp; 4.50%, 04/01/30 |  | 135 | &nbsp;&nbsp; 123019 |
| &nbsp;&nbsp;&nbsp; 3.88%, 10/15/30 |  | 33 | &nbsp;&nbsp; 28812 |
| &nbsp;&nbsp;&nbsp; 4.00%, 04/15/31 |  | 17 | &nbsp;&nbsp; 14716 |
| &nbsp;&nbsp;&nbsp; 6.88%, 06/30/33 |  | 616 | &nbsp;&nbsp; 628324 |
| &nbsp;&nbsp;&nbsp; 7.00%, 03/31/34 |  | 585 | &nbsp;&nbsp; 595126 |
| Lumen Technologies, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 4.13%, 04/15/29 |  | 50 | &nbsp;&nbsp; 48961 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Debt Strategies Fund, Inc. (DSU)** 

**(Percentages shown are based on Net Assets)**

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Diversified Telecommunication Services (continued)** | **Diversified Telecommunication Services (continued)** | **Diversified Telecommunication Services (continued)** | **Diversified Telecommunication Services (continued)** |
| Lumen Technologies, Inc.<sup>(b)</sup> (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.13%, 04/15/30 | USD | 50 | &nbsp;&nbsp; $48942 |
| &nbsp;&nbsp;&nbsp; 10.00%, 10/15/32 |  | 51 | &nbsp;&nbsp; 51597 |
| Maya SAS/Paris France<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 7.00%, 10/15/28 |  | 200 | &nbsp;&nbsp; 203206 |
| &nbsp;&nbsp;&nbsp; 8.50%, 04/15/31 |  | 250 | &nbsp;&nbsp; 268123 |
| Sable International Finance Ltd., 7.13%, 10/15/32<sup>(b)</sup> |  | 200 | &nbsp;&nbsp; 202605 |
| Telecom Italia Capital SA, 7.72%, 06/04/38 |  | 110 | &nbsp;&nbsp; 121857 |
| Windstream Services LLC, 10/15/33<sup>(b)(f)</sup> |  | 112 | &nbsp;&nbsp; 111970 |
| &nbsp;&nbsp;&nbsp; Windstream Services LLC/Windstream Escrow Finance <br> Corp., 8.25%, 10/01/31<sup>(b)</sup><br>|  | 460 | &nbsp;&nbsp; 476503 |
| Zayo Group Holdings, Inc.<sup>(b)(f)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 03/09/30 |  | 467 | &nbsp;&nbsp; 447210 |
| &nbsp;&nbsp;&nbsp; 09/09/30 |  | 112 | &nbsp;&nbsp; 105749 |
|  |  |  | &nbsp;&nbsp; 5962352 |
| **Electric Utilities — 0.2%** | **Electric Utilities — 0.2%** | **Electric Utilities — 0.2%** | **Electric Utilities — 0.2%** |
| Alpha Generation LLC, 6.75%, 10/15/32<sup>(b)</sup> |  | 69 | &nbsp;&nbsp; 71228 |
| ContourGlobal Power Holdings SA, 6.75%, 02/28/30<sup>(b)</sup> |  | 200 | &nbsp;&nbsp; 207748 |
| &nbsp;&nbsp;&nbsp; Edison International, Series A, (5-year CMT + 4.70%), <br> 5.38%<sup>(a)(k)</sup><br>|  | 98 | &nbsp;&nbsp; 95145 |
| &nbsp;&nbsp;&nbsp; NextEra Energy Capital Holdings, Inc., (5-year CMT + <br> 2.46%), 6.75%, 06/15/54<sup>(a)</sup><br>|  | 33 | &nbsp;&nbsp; 35466 |
| &nbsp;&nbsp;&nbsp; Pattern Energy Operations LP/Pattern Energy <br> Operations, Inc., 4.50%, 08/15/28<sup>(b)</sup><br>|  | 8 | &nbsp;&nbsp; 7797 |
| Pike Corp., 8.63%, 01/31/31<sup>(b)</sup> |  | 23 | &nbsp;&nbsp; 24673 |
| &nbsp;&nbsp;&nbsp; Texas Competitive Electric Holdings Co. LLC, 1.00%, <br> 11/10/17<sup>(c)(d)(h)</sup><br>|  | 2375 | &nbsp;&nbsp; — |
| Vistra Operations Co. LLC<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 7.75%, 10/15/31 |  | 148 | &nbsp;&nbsp; 156613 |
| &nbsp;&nbsp;&nbsp; 6.88%, 04/15/32 |  | 82 | &nbsp;&nbsp; 85762 |
| &nbsp;&nbsp;&nbsp; XPLR Infrastructure Operating Partners LP, 8.38%, <br> 01/15/31<sup>(b)</sup><br>|  | 304 | &nbsp;&nbsp; 318592 |
|  |  |  | &nbsp;&nbsp; 1003024 |
| **Electronic Equipment, Instruments & Components**<sup>(b)</sup> **— 0.1%** | **Electronic Equipment, Instruments & Components**<sup>(b)</sup> **— 0.1%** | **Electronic Equipment, Instruments & Components**<sup>(b)</sup> **— 0.1%** | **Electronic Equipment, Instruments & Components**<sup>(b)</sup> **— 0.1%** |
| Coherent Corp., 5.00%, 12/15/29 |  | 45 | &nbsp;&nbsp; 44379 |
| Sensata Technologies BV, 4.00%, 04/15/29 |  | 36 | &nbsp;&nbsp; 34548 |
| Sensata Technologies, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.38%, 02/15/30 |  | 146 | &nbsp;&nbsp; 140913 |
| &nbsp;&nbsp;&nbsp; 3.75%, 02/15/31 |  | 145 | &nbsp;&nbsp; 133817 |
| &nbsp;&nbsp;&nbsp; 6.63%, 07/15/32 |  | 200 | &nbsp;&nbsp; 206956 |
| WESCO Distribution, Inc., 6.38%, 03/15/33 |  | 73 | &nbsp;&nbsp; 75674 |
| Zebra Technologies Corp., 6.50%, 06/01/32 |  | 29 | &nbsp;&nbsp; 29785 |
|  |  |  | &nbsp;&nbsp; 666072 |
| **Energy Equipment & Services — 0.2%** | **Energy Equipment & Services — 0.2%** | **Energy Equipment & Services — 0.2%** | **Energy Equipment & Services — 0.2%** |
| Archrock Partners LP/Archrock Partners Finance Corp.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.88%, 04/01/27 |  | 77 | &nbsp;&nbsp; 77004 |
| &nbsp;&nbsp;&nbsp; 6.25%, 04/01/28 |  | 18 | &nbsp;&nbsp; 18025 |
| &nbsp;&nbsp;&nbsp; 6.63%, 09/01/32 |  | 115 | &nbsp;&nbsp; 117965 |
| Enerflex Ltd., 9.00%, 10/15/27<sup>(b)</sup> |  | 31 | &nbsp;&nbsp; 31563 |
| Kodiak Gas Services LLC<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 7.25%, 02/15/29 |  | 133 | &nbsp;&nbsp; 138009 |
| &nbsp;&nbsp;&nbsp; 6.50%, 10/01/33 |  | 101 | &nbsp;&nbsp; 102836 |
| &nbsp;&nbsp;&nbsp; 6.75%, 10/01/35 |  | 76 | &nbsp;&nbsp; 78033 |
| Oceaneering International, Inc., 6.00%, 02/01/28 |  | 18 | &nbsp;&nbsp; 18223 |
| Star Holding LLC, 8.75%, 08/01/31<sup>(b)</sup> |  | 127 | &nbsp;&nbsp; 126010 |
| Tidewater, Inc., 9.13%, 07/15/30<sup>(b)</sup> |  | 65 | &nbsp;&nbsp; 69709 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Energy Equipment & Services (continued)** | **Energy Equipment & Services (continued)** | **Energy Equipment & Services (continued)** | **Energy Equipment & Services (continued)** |
| &nbsp;&nbsp;&nbsp; USA Compression Partners LP/USA Compression <br> Finance Corp.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 7.13%, 03/15/29 | USD | 96 | &nbsp;&nbsp; $99007 |
| &nbsp;&nbsp;&nbsp; 6.25%, 10/01/33 |  | 177 | &nbsp;&nbsp; 177677 |
| Weatherford International Ltd.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 8.63%, 04/30/30 |  | 137 | &nbsp;&nbsp; 140048 |
| &nbsp;&nbsp;&nbsp; 10/15/33<sup>(f)</sup> |  | 159 | &nbsp;&nbsp; 159111 |
|  |  |  | &nbsp;&nbsp; 1353220 |
| **Entertainment**<sup>(b)</sup> **— 0.0%** | **Entertainment**<sup>(b)</sup> **— 0.0%** | **Entertainment**<sup>(b)</sup> **— 0.0%** | **Entertainment**<sup>(b)</sup> **— 0.0%** |
| Flutter Treasury DAC, 5.88%, 06/04/31 |  | 200 | &nbsp;&nbsp; 203004 |
| &nbsp;&nbsp;&nbsp; Scientific Games Holdings LP/Scientific Games <br> U.S. FinCo, Inc., 6.63%, 03/01/30<br>|  | 58 | &nbsp;&nbsp; 53923 |
|  |  |  | &nbsp;&nbsp; 256927 |
| **Environmental, Maintenance & Security Service**<sup>(b)</sup> **— 0.4%** | **Environmental, Maintenance & Security Service**<sup>(b)</sup> **— 0.4%** | **Environmental, Maintenance & Security Service**<sup>(b)</sup> **— 0.4%** | **Environmental, Maintenance & Security Service**<sup>(b)</sup> **— 0.4%** |
| Clean Harbors, Inc., 6.38%, 02/01/31 |  | 7 | &nbsp;&nbsp; 7168 |
| GFL Environmental, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.00%, 08/01/28 |  | 8 | &nbsp;&nbsp; 7810 |
| &nbsp;&nbsp;&nbsp; 4.75%, 06/15/29 |  | 164 | &nbsp;&nbsp; 161756 |
| &nbsp;&nbsp;&nbsp; 4.38%, 08/15/29 |  | 65 | &nbsp;&nbsp; 63415 |
| &nbsp;&nbsp;&nbsp; 6.75%, 01/15/31 |  | 108 | &nbsp;&nbsp; 113014 |
| Madison IAQ LLC, 5.88%, 06/30/29 |  | 1203 | &nbsp;&nbsp; 1188444 |
| Reworld Holding Corp., 4.88%, 12/01/29 |  | 43 | &nbsp;&nbsp; 40440 |
| Waste Pro USA, Inc., 7.00%, 02/01/33 |  | 448 | &nbsp;&nbsp; 464037 |
| Wrangler Holdco Corp., 6.63%, 04/01/32 |  | 152 | &nbsp;&nbsp; 158490 |
|  |  |  | &nbsp;&nbsp; 2204574 |
| **Financial Services**<sup>(b)</sup> **— 0.5%** | **Financial Services**<sup>(b)</sup> **— 0.5%** | **Financial Services**<sup>(b)</sup> **— 0.5%** | **Financial Services**<sup>(b)</sup> **— 0.5%** |
| Azorra Finance Ltd. |  |  |  |
| &nbsp;&nbsp;&nbsp; 7.75%, 04/15/30 |  | 40 | &nbsp;&nbsp; 41950 |
| &nbsp;&nbsp;&nbsp; 7.25%, 01/15/31 |  | 36 | &nbsp;&nbsp; 37486 |
| &nbsp;&nbsp;&nbsp; CrossCountry Intermediate HoldCo LLC, 6.50%, <br> 10/01/30<br>|  | 78 | &nbsp;&nbsp; 78287 |
| Freedom Mortgage Holdings LLC |  |  |  |
| &nbsp;&nbsp;&nbsp; 9.25%, 02/01/29 |  | 42 | &nbsp;&nbsp; 44191 |
| &nbsp;&nbsp;&nbsp; 9.13%, 05/15/31 |  | 102 | &nbsp;&nbsp; 108482 |
| &nbsp;&nbsp;&nbsp; 8.38%, 04/01/32 |  | 50 | &nbsp;&nbsp; 52408 |
| GGAM Finance Ltd. |  |  |  |
| &nbsp;&nbsp;&nbsp; 8.00%, 06/15/28 |  | 29 | &nbsp;&nbsp; 30695 |
| &nbsp;&nbsp;&nbsp; 6.88%, 04/15/29 |  | 65 | &nbsp;&nbsp; 67406 |
| &nbsp;&nbsp;&nbsp; 5.88%, 03/15/30 |  | 209 | &nbsp;&nbsp; 211874 |
| Global Aircraft Leasing Co. Ltd., 8.75%, 09/01/27 |  | 89 | &nbsp;&nbsp; 91770 |
| &nbsp;&nbsp;&nbsp; Jefferies Finance LLC/JFIN Co-Issuer Corp., 5.00%, <br> 08/15/28<br>|  | 200 | &nbsp;&nbsp; 193237 |
| Midcap Financial Issuer Trust, 5.63%, 01/15/30 |  | 200 | &nbsp;&nbsp; 188582 |
| Nationstar Mortgage Holdings, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.50%, 08/01/29 |  | 172 | &nbsp;&nbsp; 176453 |
| &nbsp;&nbsp;&nbsp; 5.13%, 12/15/30 |  | 21 | &nbsp;&nbsp; 21185 |
| &nbsp;&nbsp;&nbsp; 5.75%, 11/15/31 |  | 79 | &nbsp;&nbsp; 79830 |
| &nbsp;&nbsp;&nbsp; 7.13%, 02/01/32 |  | 164 | &nbsp;&nbsp; 171184 |
| PennyMac Financial Services, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 7.88%, 12/15/29 |  | 52 | &nbsp;&nbsp; 55187 |
| &nbsp;&nbsp;&nbsp; 7.13%, 11/15/30 |  | 172 | &nbsp;&nbsp; 179097 |
| &nbsp;&nbsp;&nbsp; 6.88%, 05/15/32 |  | 83 | &nbsp;&nbsp; 86004 |
| &nbsp;&nbsp;&nbsp; 6.75%, 02/15/34 |  | 51 | &nbsp;&nbsp; 52024 |
| Phoenix Aviation Capital Ltd., 9.25%, 07/15/30 |  | 137 | &nbsp;&nbsp; 145756 |
| Rocket Cos., Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.13%, 08/01/30 |  | 385 | &nbsp;&nbsp; 395133 |
| &nbsp;&nbsp;&nbsp; 6.38%, 08/01/33 |  | 311 | &nbsp;&nbsp; 320987 |

---

------

Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Debt Strategies Fund, Inc. (DSU)** 

**(Percentages shown are based on Net Assets)**

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Financial Services (continued)** | **Financial Services (continued)** | **Financial Services (continued)** | **Financial Services (continued)** |
| Rocket Mortgage LLC/Rocket Mortgage Co-Issuer, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 2.88%, 10/15/26 | USD | 75 | &nbsp;&nbsp; $73465 |
| &nbsp;&nbsp;&nbsp; 3.88%, 03/01/31 |  | 20 | &nbsp;&nbsp; 18677 |
| &nbsp;&nbsp;&nbsp; 4.00%, 10/15/33 |  | 9 | &nbsp;&nbsp; 8220 |
| UWM Holdings LLC |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.63%, 02/01/30 |  | 187 | &nbsp;&nbsp; 190232 |
| &nbsp;&nbsp;&nbsp; 6.25%, 03/15/31 |  | 56 | &nbsp;&nbsp; 55733 |
|  |  |  | &nbsp;&nbsp; 3175535 |
| **Food Products**<sup>(b)</sup> **— 0.3%** | **Food Products**<sup>(b)</sup> **— 0.3%** | **Food Products**<sup>(b)</sup> **— 0.3%** | **Food Products**<sup>(b)</sup> **— 0.3%** |
| Aramark Services, Inc., 5.00%, 02/01/28 |  | 41 | &nbsp;&nbsp; 40807 |
| B&G Foods, Inc., 8.00%, 09/15/28 |  | 22 | &nbsp;&nbsp; 21316 |
| &nbsp;&nbsp;&nbsp; Chobani Holdco II LLC, (8.75% in Cash or 9.5% in PIK), <br> 8.75%, 10/01/29<sup>(g)</sup><br>|  | 439 | &nbsp;&nbsp; 465552 |
| Chobani LLC/Chobani Finance Corp., Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.63%, 11/15/28 |  | 258 | &nbsp;&nbsp; 255119 |
| &nbsp;&nbsp;&nbsp; 7.63%, 07/01/29 |  | 273 | &nbsp;&nbsp; 284670 |
| Darling Global Finance BV, 4.50%, 07/15/32 | EUR | 100 | &nbsp;&nbsp; 118535 |
| Darling Ingredients, Inc., 6.00%, 06/15/30 | USD | 151 | &nbsp;&nbsp; 152444 |
| Fiesta Purchaser, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 7.88%, 03/01/31 |  | 5 | &nbsp;&nbsp; 5277 |
| &nbsp;&nbsp;&nbsp; 9.63%, 09/15/32 |  | 80 | &nbsp;&nbsp; 86367 |
| Lamb Weston Holdings, Inc., 4.13%, 01/31/30 |  | 248 | &nbsp;&nbsp; 238135 |
| Post Holdings, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.63%, 04/15/30 |  | 36 | &nbsp;&nbsp; 34704 |
| &nbsp;&nbsp;&nbsp; 4.50%, 09/15/31 |  | 28 | &nbsp;&nbsp; 26159 |
| &nbsp;&nbsp;&nbsp; 6.38%, 03/01/33 |  | 76 | &nbsp;&nbsp; 76707 |
| &nbsp;&nbsp;&nbsp; 6.25%, 10/15/34 |  | 95 | &nbsp;&nbsp; 95791 |
|  |  |  | &nbsp;&nbsp; 1901583 |
| **Ground Transportation**<sup>(b)</sup> **— 0.0%** | **Ground Transportation**<sup>(b)</sup> **— 0.0%** | **Ground Transportation**<sup>(b)</sup> **— 0.0%** | **Ground Transportation**<sup>(b)</sup> **— 0.0%** |
| Genesee & Wyoming, Inc., 6.25%, 04/15/32 |  | 106 | &nbsp;&nbsp; 107711 |
| Watco Cos. LLC/Watco Finance Corp., 7.13%, 08/01/32 |  | 26 | &nbsp;&nbsp; 26912 |
|  |  |  | &nbsp;&nbsp; 134623 |
| **Health Care Equipment & Supplies**<sup>(b)</sup> **— 0.1%** | **Health Care Equipment & Supplies**<sup>(b)</sup> **— 0.1%** | **Health Care Equipment & Supplies**<sup>(b)</sup> **— 0.1%** | **Health Care Equipment & Supplies**<sup>(b)</sup> **— 0.1%** |
| Bausch & Lomb Corp., 8.38%, 10/01/28 |  | 533 | &nbsp;&nbsp; 555486 |
| Insulet Corp., 6.50%, 04/01/33 |  | 144 | &nbsp;&nbsp; 149707 |
| Neogen Food Safety Corp., 8.63%, 07/20/30 |  | 60 | &nbsp;&nbsp; 62743 |
|  |  |  | &nbsp;&nbsp; 767936 |
| **Health Care Providers & Services — 0.8%** | **Health Care Providers & Services — 0.8%** | **Health Care Providers & Services — 0.8%** | **Health Care Providers & Services — 0.8%** |
| Acadia Healthcare Co., Inc., 7.38%, 03/15/33<sup>(b)</sup> |  | 32 | &nbsp;&nbsp; 33222 |
| AHP Health Partners, Inc., 5.75%, 07/15/29<sup>(b)</sup> |  | 110 | &nbsp;&nbsp; 108256 |
| CHS/Community Health Systems, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.00%, 01/15/29 |  | 149 | &nbsp;&nbsp; 144625 |
| &nbsp;&nbsp;&nbsp; 5.25%, 05/15/30 |  | 202 | &nbsp;&nbsp; 182738 |
| &nbsp;&nbsp;&nbsp; 4.75%, 02/15/31 |  | 100 | &nbsp;&nbsp; 86475 |
| &nbsp;&nbsp;&nbsp; 10.88%, 01/15/32 |  | 209 | &nbsp;&nbsp; 221351 |
| &nbsp;&nbsp;&nbsp; 9.75%, 01/15/34 |  | 292 | &nbsp;&nbsp; 299154 |
| Concentra Health Services, Inc., 6.88%, 07/15/32<sup>(b)</sup> |  | 86 | &nbsp;&nbsp; 89301 |
| DaVita, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.88%, 09/01/32 |  | 43 | &nbsp;&nbsp; 44420 |
| &nbsp;&nbsp;&nbsp; 6.75%, 07/15/33 |  | 53 | &nbsp;&nbsp; 54653 |
| Fortrea Holdings, Inc., 7.50%, 07/01/30<sup>(b)</sup> |  | 23 | &nbsp;&nbsp; 21780 |
| HAH Group Holding Co. LLC, 9.75%, 10/01/31<sup>(b)</sup> |  | 38 | &nbsp;&nbsp; 36103 |
| HealthEquity, Inc., 4.50%, 10/01/29<sup>(b)</sup> |  | 496 | &nbsp;&nbsp; 480934 |
| IQVIA, Inc., 6.25%, 06/01/32<sup>(b)</sup> |  | 281 | &nbsp;&nbsp; 288908 |
| LifePoint Health, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 9.88%, 08/15/30 |  | 22 | &nbsp;&nbsp; 23825 |
| &nbsp;&nbsp;&nbsp; 11.00%, 10/15/30 |  | 314 | &nbsp;&nbsp; 346077 |
| &nbsp;&nbsp;&nbsp; 8.38%, 02/15/32 |  | 49 | &nbsp;&nbsp; 52220 |
| &nbsp;&nbsp;&nbsp; 10.00%, 06/01/32 |  | 218 | &nbsp;&nbsp; 228891 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Health Care Providers & Services (continued)** | **Health Care Providers & Services (continued)** | **Health Care Providers & Services (continued)** | **Health Care Providers & Services (continued)** |
| Medline Borrower LP<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 3.88%, 04/01/29 | USD | 157 | &nbsp;&nbsp; $151418 |
| &nbsp;&nbsp;&nbsp; 5.25%, 10/01/29 |  | 458 | &nbsp;&nbsp; 454040 |
| &nbsp;&nbsp;&nbsp; Medline Borrower LP/Medline Co-Issuer, Inc., 6.25%, <br> 04/01/29<sup>(b)</sup><br>|  | 275 | &nbsp;&nbsp; 281986 |
| Molina Healthcare, Inc., 6.25%, 01/15/33<sup>(b)</sup> |  | 194 | &nbsp;&nbsp; 196155 |
| Prime Healthcare Services, Inc., 9.38%, 09/01/29<sup>(b)</sup> |  | 28 | &nbsp;&nbsp; 29120 |
| Sotera Health Holdings LLC, 7.38%, 06/01/31<sup>(b)</sup> |  | 94 | &nbsp;&nbsp; 98702 |
| Star Parent, Inc., 9.00%, 10/01/30<sup>(b)</sup> |  | 181 | &nbsp;&nbsp; 191352 |
| Surgery Center Holdings, Inc., 7.25%, 04/15/32<sup>(b)</sup> |  | 292 | &nbsp;&nbsp; 299956 |
| Tenet Healthcare Corp., 6.75%, 05/15/31 |  | 437 | &nbsp;&nbsp; 452417 |
| U.S. Acute Care Solutions LLC, 9.75%, 05/15/29<sup>(b)</sup> |  | 164 | &nbsp;&nbsp; 167933 |
|  |  |  | &nbsp;&nbsp; 5066012 |
| **Health Care REITs**<sup>(b)</sup> **— 0.1%** | **Health Care REITs**<sup>(b)</sup> **— 0.1%** | **Health Care REITs**<sup>(b)</sup> **— 0.1%** | **Health Care REITs**<sup>(b)</sup> **— 0.1%** |
| Diversified Healthcare Trust, 7.25%, 10/15/30 |  | 43 | &nbsp;&nbsp; 43702 |
| &nbsp;&nbsp;&nbsp; MPT Operating Partnership LP/MPT Finance Corp., <br> 8.50%, 02/15/32<br>|  | 211 | &nbsp;&nbsp; 224201 |
|  |  |  | &nbsp;&nbsp; 267903 |
| **Hotel & Resort REITs — 0.3%** | **Hotel & Resort REITs — 0.3%** | **Hotel & Resort REITs — 0.3%** | **Hotel & Resort REITs — 0.3%** |
| &nbsp;&nbsp;&nbsp; Park Intermediate Holdings LLC/PK Domestic Property <br> LLC/PK Finance Co-Issuer, 7.00%, 02/01/30<sup>(b)</sup><br>|  | 173 | &nbsp;&nbsp; 178345 |
| &nbsp;&nbsp;&nbsp; Pebblebrook Hotel LP/PEB Finance Corp., 6.38%, <br> 10/15/29<sup>(b)</sup><br>|  | 29 | &nbsp;&nbsp; 29432 |
| RHP Hotel Properties LP/RHP Finance Corp.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 4.50%, 02/15/29 |  | 39 | &nbsp;&nbsp; 38248 |
| &nbsp;&nbsp;&nbsp; 6.50%, 04/01/32 |  | 326 | &nbsp;&nbsp; 335158 |
| &nbsp;&nbsp;&nbsp; 6.50%, 06/15/33 |  | 84 | &nbsp;&nbsp; 86511 |
| RLJ Lodging Trust LP, 4.00%, 09/15/29<sup>(b)</sup> |  | 74 | &nbsp;&nbsp; 69879 |
| Service Properties Trust |  |  |  |
| &nbsp;&nbsp;&nbsp; 0.00%, 09/30/27<sup>(b)(l)</sup> |  | 83 | &nbsp;&nbsp; 73167 |
| &nbsp;&nbsp;&nbsp; 8.63%, 11/15/31<sup>(b)</sup> |  | 556 | &nbsp;&nbsp; 591970 |
| &nbsp;&nbsp;&nbsp; 8.88%, 06/15/32 |  | 113 | &nbsp;&nbsp; 113635 |
| XHR LP, 6.63%, 05/15/30<sup>(b)</sup> |  | 28 | &nbsp;&nbsp; 28769 |
|  |  |  | &nbsp;&nbsp; 1545114 |
| **Hotels, Restaurants & Leisure — 1.2%** | **Hotels, Restaurants & Leisure — 1.2%** | **Hotels, Restaurants & Leisure — 1.2%** | **Hotels, Restaurants & Leisure — 1.2%** |
| Boyne USA, Inc., 4.75%, 05/15/29<sup>(b)</sup> |  | 165 | &nbsp;&nbsp; 161880 |
| &nbsp;&nbsp;&nbsp; Burger King (Restaurant Brands International Inc.)/New <br> Red Finance, Inc., 5.63%, 09/15/29<sup>(b)</sup><br>|  | 29 | &nbsp;&nbsp; 29349 |
| &nbsp;&nbsp;&nbsp; Burger King (Restaurant Brands International, Inc.)/New <br> Red Finance, Inc., 4.00%, 10/15/30<sup>(b)</sup><br>|  | 193 | &nbsp;&nbsp; 181888 |
| Caesars Entertainment, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 4.63%, 10/15/29 |  | 338 | &nbsp;&nbsp; 323208 |
| &nbsp;&nbsp;&nbsp; 7.00%, 02/15/30 |  | 342 | &nbsp;&nbsp; 351784 |
| &nbsp;&nbsp;&nbsp; 6.50%, 02/15/32 |  | 162 | &nbsp;&nbsp; 165238 |
| Carnival Corp.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.88%, 06/15/31 |  | 66 | &nbsp;&nbsp; 67633 |
| &nbsp;&nbsp;&nbsp; 5.75%, 08/01/32 |  | 45 | &nbsp;&nbsp; 45795 |
| &nbsp;&nbsp;&nbsp; 6.13%, 02/15/33 |  | 142 | &nbsp;&nbsp; 145555 |
| Carnival PLC, 4.13%, 07/15/31<sup>(b)</sup> | EUR | 125 | &nbsp;&nbsp; 148563 |
| Churchill Downs, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 4.75%, 01/15/28 | USD | 47 | &nbsp;&nbsp; 46373 |
| &nbsp;&nbsp;&nbsp; 5.75%, 04/01/30 |  | 292 | &nbsp;&nbsp; 291737 |
| &nbsp;&nbsp;&nbsp; 6.75%, 05/01/31 |  | 188 | &nbsp;&nbsp; 192673 |
| &nbsp;&nbsp;&nbsp; Fertitta Entertainment LLC/Fertitta Entertainment <br> Finance Co., Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 4.63%, 01/15/29 |  | 139 | &nbsp;&nbsp; 132292 |
| &nbsp;&nbsp;&nbsp; 6.75%, 01/15/30 |  | 586 | &nbsp;&nbsp; 549922 |
| &nbsp;&nbsp;&nbsp; Great Canadian Gaming Corp./Raptor LLC, 8.75%, <br> 11/15/29<sup>(b)</sup><br>|  | 94 | &nbsp;&nbsp; 92951 |
| Hilton Domestic Operating Co., Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.88%, 03/15/33 |  | 304 | &nbsp;&nbsp; 310322 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Debt Strategies Fund, Inc. (DSU)** 

**(Percentages shown are based on Net Assets)**

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Hotels, Restaurants & Leisure (continued)** | **Hotels, Restaurants & Leisure (continued)** | **Hotels, Restaurants & Leisure (continued)** | **Hotels, Restaurants & Leisure (continued)** |
| Hilton Domestic Operating Co., Inc.<sup>(b)</sup> (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.75%, 09/15/33 | USD | 11 | &nbsp;&nbsp; $11147 |
| Light & Wonder International, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 7.50%, 09/01/31 |  | 41 | &nbsp;&nbsp; 42638 |
| &nbsp;&nbsp;&nbsp; 6.25%, 10/01/33 |  | 77 | &nbsp;&nbsp; 77131 |
| Lindblad Expeditions LLC, 7.00%, 09/15/30<sup>(b)</sup> |  | 102 | &nbsp;&nbsp; 103968 |
| MajorDrive Holdings IV LLC, 6.38%, 06/01/29<sup>(b)</sup> |  | 78 | &nbsp;&nbsp; 63919 |
| Melco Resorts Finance Ltd.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.38%, 12/04/29 |  | 200 | &nbsp;&nbsp; 195390 |
| &nbsp;&nbsp;&nbsp; 7.63%, 04/17/32 |  | 200 | &nbsp;&nbsp; 209500 |
| MGM Resorts International, 6.13%, 09/15/29 |  | 97 | &nbsp;&nbsp; 98726 |
| &nbsp;&nbsp;&nbsp; Midwest Gaming Borrower LLC/Midwest Gaming <br> Finance Corp., 4.88%, 05/01/29<sup>(b)</sup><br>|  | 40 | &nbsp;&nbsp; 38884 |
| &nbsp;&nbsp;&nbsp; Mohegan Tribal Gaming Authority/MS Digital <br> Entertainment Holdings LLC, 8.25%, 04/15/30<sup>(b)</sup><br>|  | 70 | &nbsp;&nbsp; 72733 |
| NCL Corp. Ltd.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.88%, 01/15/31 |  | 139 | &nbsp;&nbsp; 138995 |
| &nbsp;&nbsp;&nbsp; 6.75%, 02/01/32 |  | 76 | &nbsp;&nbsp; 78161 |
| &nbsp;&nbsp;&nbsp; 6.25%, 09/15/33 |  | 218 | &nbsp;&nbsp; 219128 |
| &nbsp;&nbsp;&nbsp; Premier Entertainment Sub LLC/Premier Entertainment <br> Finance Corp.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.63%, 09/01/29 |  | 34 | &nbsp;&nbsp; 18360 |
| &nbsp;&nbsp;&nbsp; 5.88%, 09/01/31 |  | 49 | &nbsp;&nbsp; 25263 |
| Raising Cane's Restaurants LLC, 9.38%, 05/01/29<sup>(b)</sup> |  | 36 | &nbsp;&nbsp; 37791 |
| &nbsp;&nbsp;&nbsp; Rivers Enterprise Borrower LLC/Rivers Enterprise <br> Finance Corp., 6.63%, 02/01/33<sup>(b)</sup><br>|  | 43 | &nbsp;&nbsp; 43573 |
| &nbsp;&nbsp;&nbsp; Rivers Enterprise Lender LLC/Rivers Enterprise Lender <br> Corp., 10/15/30<sup>(b)(f)</sup><br>|  | 45 | &nbsp;&nbsp; 45401 |
| Sabre GLBL, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 8.63%, 06/01/27 |  | 25 | &nbsp;&nbsp; 25358 |
| &nbsp;&nbsp;&nbsp; 10.75%, 11/15/29 |  | 88 | &nbsp;&nbsp; 85043 |
| &nbsp;&nbsp;&nbsp; 11.13%, 07/15/30 |  | 121 | &nbsp;&nbsp; 117182 |
| Starz Capital Holdings 1, Inc., 6.00%, 04/15/30<sup>(b)</sup> |  | 54 | &nbsp;&nbsp; 51210 |
| Station Casinos LLC<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 4.50%, 02/15/28 |  | 69 | &nbsp;&nbsp; 67838 |
| &nbsp;&nbsp;&nbsp; 4.63%, 12/01/31 |  | 175 | &nbsp;&nbsp; 165080 |
| &nbsp;&nbsp;&nbsp; 6.63%, 03/15/32 |  | 43 | &nbsp;&nbsp; 44171 |
| Vail Resorts, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.63%, 07/15/30 |  | 59 | &nbsp;&nbsp; 59369 |
| &nbsp;&nbsp;&nbsp; 6.50%, 05/15/32 |  | 90 | &nbsp;&nbsp; 93055 |
| Viking Cruises Ltd.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.88%, 09/15/27 |  | 58 | &nbsp;&nbsp; 58022 |
| &nbsp;&nbsp;&nbsp; 7.00%, 02/15/29 |  | 13 | &nbsp;&nbsp; 13066 |
| &nbsp;&nbsp;&nbsp; 9.13%, 07/15/31 |  | 177 | &nbsp;&nbsp; 189978 |
| &nbsp;&nbsp;&nbsp; 10/15/33<sup>(f)</sup> |  | 192 | &nbsp;&nbsp; 192135 |
| Viking Ocean Cruises Ship VII Ltd., 5.63%, 02/15/29<sup>(b)</sup> |  | 27 | &nbsp;&nbsp; 26977 |
| Voyager Parent LLC, 9.25%, 07/01/32<sup>(b)</sup> |  | 92 | &nbsp;&nbsp; 97289 |
| Warnermedia Holdings, Inc., 5.05%, 03/15/42 |  | 566 | &nbsp;&nbsp; 451849 |
| Wyndham Hotels & Resorts, Inc., 4.38%, 08/15/28<sup>(b)</sup> |  | 44 | &nbsp;&nbsp; 42952 |
| Wynn Macau Ltd., 5.63%, 08/26/28<sup>(b)</sup> |  | 400 | &nbsp;&nbsp; 399204 |
| &nbsp;&nbsp;&nbsp; Wynn Resorts Finance LLC/Wynn Resorts Capital <br> Corp.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.13%, 10/01/29 |  | 190 | &nbsp;&nbsp; 190293 |
| &nbsp;&nbsp;&nbsp; 7.13%, 02/15/31 |  | 313 | &nbsp;&nbsp; 336896 |
| &nbsp;&nbsp;&nbsp; 6.25%, 03/15/33 |  | 45 | &nbsp;&nbsp; 45697 |
|  |  |  | &nbsp;&nbsp; 7510535 |
| **Household Durables — 0.2%** | **Household Durables — 0.2%** | **Household Durables — 0.2%** | **Household Durables — 0.2%** |
| Ashton Woods USA LLC/Ashton Woods Finance Co.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 4.63%, 08/01/29 |  | 32 | &nbsp;&nbsp; 30642 |
| &nbsp;&nbsp;&nbsp; 4.63%, 04/01/30 |  | 46 | &nbsp;&nbsp; 43547 |
| &nbsp;&nbsp;&nbsp; 6.88%, 08/01/33 |  | 44 | &nbsp;&nbsp; 44377 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Household Durables (continued)** | **Household Durables (continued)** | **Household Durables (continued)** | **Household Durables (continued)** |
| Beazer Homes USA, Inc., 5.88%, 10/15/27 | USD | 14 | &nbsp;&nbsp; $13991 |
| &nbsp;&nbsp;&nbsp; Brookfield Residential Properties, Inc./Brookfield <br> Residential U.S. LLC<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 06/15/29 |  | 67 | &nbsp;&nbsp; 63849 |
| &nbsp;&nbsp;&nbsp; 4.88%, 02/15/30 |  | 56 | &nbsp;&nbsp; 52519 |
| Century Communities, Inc., 6.63%, 09/15/33<sup>(b)</sup> |  | 55 | &nbsp;&nbsp; 55482 |
| Dream Finders Homes, Inc., 8.25%, 08/15/28<sup>(b)</sup> |  | 26 | &nbsp;&nbsp; 26974 |
| Empire Communities Corp., 9.75%, 05/01/29<sup>(b)</sup> |  | 13 | &nbsp;&nbsp; 13631 |
| K Hovnanian Enterprises, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 8.00%, 04/01/31 |  | 93 | &nbsp;&nbsp; 95365 |
| &nbsp;&nbsp;&nbsp; 8.38%, 10/01/33 |  | 103 | &nbsp;&nbsp; 105601 |
| LGI Homes, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 8.75%, 12/15/28 |  | 33 | &nbsp;&nbsp; 34644 |
| &nbsp;&nbsp;&nbsp; 7.00%, 11/15/32 |  | 62 | &nbsp;&nbsp; 60538 |
| Mattamy Group Corp., 4.63%, 03/01/30<sup>(b)</sup> |  | 72 | &nbsp;&nbsp; 69491 |
| Meritage Homes Corp., 1.75%, 05/15/28<sup>(j)</sup> |  | 98 | &nbsp;&nbsp; 100299 |
| New Home Co., Inc., 9.25%, 10/01/29<sup>(b)</sup> |  | 56 | &nbsp;&nbsp; 58802 |
| Newell Brands, Inc., 8.50%, 06/01/28<sup>(b)</sup> |  | 61 | &nbsp;&nbsp; 64522 |
| Scotts Miracle-Gro Co. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.50%, 10/15/29 |  | 5 | &nbsp;&nbsp; 4858 |
| &nbsp;&nbsp;&nbsp; 4.38%, 02/01/32 |  | 97 | &nbsp;&nbsp; 89562 |
| Somnigroup International, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 4.00%, 04/15/29 |  | 89 | &nbsp;&nbsp; 85418 |
| &nbsp;&nbsp;&nbsp; 3.88%, 10/15/31 |  | 23 | &nbsp;&nbsp; 21065 |
| STL Holding Co. LLC, 8.75%, 02/15/29<sup>(b)</sup> |  | 31 | &nbsp;&nbsp; 32486 |
| SWF Holdings I Corp., 6.50%, 10/06/29<sup>(b)</sup> |  | 285 | &nbsp;&nbsp; 142528 |
| Whirlpool Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.13%, 06/15/30 |  | 29 | &nbsp;&nbsp; 29227 |
| &nbsp;&nbsp;&nbsp; 6.50%, 06/15/33 |  | 55 | &nbsp;&nbsp; 54887 |
|  |  |  | &nbsp;&nbsp; 1394305 |
| **Household Products — 0.0%** | **Household Products — 0.0%** | **Household Products — 0.0%** | **Household Products — 0.0%** |
| Central Garden & Pet Co., 4.13%, 10/15/30 |  | 26 | &nbsp;&nbsp; 24696 |
| **Independent Power and Renewable Electricity Producers**<sup>(b)</sup> **— 0.3%** | **Independent Power and Renewable Electricity Producers**<sup>(b)</sup> **— 0.3%** | **Independent Power and Renewable Electricity Producers**<sup>(b)</sup> **— 0.3%** | **Independent Power and Renewable Electricity Producers**<sup>(b)</sup> **— 0.3%** |
| Calpine Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.50%, 02/15/28 |  | 2 | &nbsp;&nbsp; 1992 |
| &nbsp;&nbsp;&nbsp; 4.63%, 02/01/29 |  | 47 | &nbsp;&nbsp; 46538 |
| &nbsp;&nbsp;&nbsp; 5.00%, 02/01/31 |  | 19 | &nbsp;&nbsp; 18944 |
| Clearway Energy Operating LLC |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.75%, 03/15/28 |  | 8 | &nbsp;&nbsp; 7904 |
| &nbsp;&nbsp;&nbsp; 3.75%, 01/15/32 |  | 202 | &nbsp;&nbsp; 181323 |
| Lightning Power LLC, 7.25%, 08/15/32 |  | 23 | &nbsp;&nbsp; 24350 |
| NRG Energy, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.75%, 07/15/29 |  | 131 | &nbsp;&nbsp; 131157 |
| &nbsp;&nbsp;&nbsp; 6.00%, 02/01/33 |  | 186 | &nbsp;&nbsp; 188896 |
| &nbsp;&nbsp;&nbsp; 01/15/34<sup>(f)</sup> |  | 192 | &nbsp;&nbsp; 191804 |
| &nbsp;&nbsp;&nbsp; 6.25%, 11/01/34 |  | 381 | &nbsp;&nbsp; 390560 |
| &nbsp;&nbsp;&nbsp; 01/15/36<sup>(f)</sup> |  | 510 | &nbsp;&nbsp; 510073 |
| Vistra Corp., (5-year CMT + 6.93%), 8.00%<sup>(a)(k)</sup> |  | 44 | &nbsp;&nbsp; 45006 |
| XPLR Infrastructure LP<sup>(j)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 0.00%, 11/15/25<sup>(l)</sup> |  | 204 | &nbsp;&nbsp; 202470 |
| &nbsp;&nbsp;&nbsp; 2.50%, 06/15/26 |  | 179 | &nbsp;&nbsp; 174525 |
|  |  |  | &nbsp;&nbsp; 2115542 |
| **Industrial Conglomerates — 0.0%** | **Industrial Conglomerates — 0.0%** | **Industrial Conglomerates — 0.0%** | **Industrial Conglomerates — 0.0%** |
| Amsted Industries, Inc., 6.38%, 03/15/33<sup>(b)</sup> |  | 32 | &nbsp;&nbsp; 32844 |
| Axon Enterprise, Inc., 6.25%, 03/15/33<sup>(b)</sup> |  | 81 | &nbsp;&nbsp; 83373 |
| Enpro, Inc., 6.13%, 06/01/33<sup>(b)</sup> |  | 49 | &nbsp;&nbsp; 50080 |
| NM Holdings Co. LLC, Series B, 9.50%, 07/01/05<sup>(c)(d)(h)</sup> |  | 5125 | &nbsp;&nbsp; 1 |
|  |  |  | &nbsp;&nbsp; 166298 |

---

------

Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Debt Strategies Fund, Inc. (DSU)** 

**(Percentages shown are based on Net Assets)**

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Insurance**<sup>(b)</sup> **— 1.3%** | **Insurance**<sup>(b)</sup> **— 1.3%** | **Insurance**<sup>(b)</sup> **— 1.3%** | **Insurance**<sup>(b)</sup> **— 1.3%** |
| Acrisure LLC/Acrisure Finance, Inc., 6.75%, 07/01/32 | USD | 38 | &nbsp;&nbsp; $39128 |
| &nbsp;&nbsp;&nbsp; Alliant Holdings Intermediate LLC/Alliant Holdings Co-<br> Issuer<br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 4.25%, 10/15/27 |  | 275 | &nbsp;&nbsp; 270434 |
| &nbsp;&nbsp;&nbsp; 6.75%, 10/15/27 |  | 589 | &nbsp;&nbsp; 590269 |
| &nbsp;&nbsp;&nbsp; 6.75%, 04/15/28 |  | 37 | &nbsp;&nbsp; 37656 |
| &nbsp;&nbsp;&nbsp; 5.88%, 11/01/29 |  | 373 | &nbsp;&nbsp; 371055 |
| &nbsp;&nbsp;&nbsp; 7.00%, 01/15/31 |  | 299 | &nbsp;&nbsp; 308935 |
| &nbsp;&nbsp;&nbsp; 7.38%, 10/01/32 |  | 528 | &nbsp;&nbsp; 544068 |
| AmWINS Group, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.38%, 02/15/29 |  | 36 | &nbsp;&nbsp; 36732 |
| &nbsp;&nbsp;&nbsp; 4.88%, 06/30/29 |  | 88 | &nbsp;&nbsp; 85526 |
| &nbsp;&nbsp;&nbsp; Amynta Agency Borrower, Inc. and Amynta Warranty <br> Borrower, Inc., 7.50%, 07/15/33<br>|  | 106 | &nbsp;&nbsp; 108507 |
| &nbsp;&nbsp;&nbsp; APH Somerset Investor 2 LLC/APH2 Somerset Investor <br> 2 LLC/APH3 Somerset Investor 2 LLC, 7.88%, <br> 11/01/29<br>|  | 63 | &nbsp;&nbsp; 65748 |
| Ardonagh Finco Ltd., 7.75%, 02/15/31 |  | 400 | &nbsp;&nbsp; 418556 |
| Ardonagh Group Finance Ltd., 8.88%, 02/15/32 |  | 600 | &nbsp;&nbsp; 630777 |
| &nbsp;&nbsp;&nbsp; Howden U.K. Refinance PLC/Howden U.K. Refinance <br> 2 PLC/Howden U.S. Refinance LLC<br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 7.25%, 02/15/31 |  | 400 | &nbsp;&nbsp; 411828 |
| &nbsp;&nbsp;&nbsp; 8.13%, 02/15/32 |  | 245 | &nbsp;&nbsp; 254187 |
| HUB International Ltd. |  |  |  |
| &nbsp;&nbsp;&nbsp; 7.25%, 06/15/30 |  | 1007 | &nbsp;&nbsp; 1050205 |
| &nbsp;&nbsp;&nbsp; 7.38%, 01/31/32 |  | 1195 | &nbsp;&nbsp; 1244400 |
| Jones Deslauriers Insurance Management, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 8.50%, 03/15/30 |  | 136 | &nbsp;&nbsp; 142883 |
| &nbsp;&nbsp;&nbsp; 6.88%, 10/01/33 |  | 112 | &nbsp;&nbsp; 111413 |
| Nassau Cos., of New York, 7.88%, 07/15/30 |  | 31 | &nbsp;&nbsp; 31661 |
| Panther Escrow Issuer LLC, 7.13%, 06/01/31 |  | 796 | &nbsp;&nbsp; 827934 |
| Ryan Specialty LLC, 5.88%, 08/01/32 |  | 265 | &nbsp;&nbsp; 267964 |
| USI, Inc., 7.50%, 01/15/32 |  | 119 | &nbsp;&nbsp; 124793 |
|  |  |  | &nbsp;&nbsp; 7974659 |
| **Interactive Media & Services**<sup>(b)</sup> **— 0.1%** | **Interactive Media & Services**<sup>(b)</sup> **— 0.1%** | **Interactive Media & Services**<sup>(b)</sup> **— 0.1%** | **Interactive Media & Services**<sup>(b)</sup> **— 0.1%** |
| Snap, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.88%, 03/01/33 |  | 239 | &nbsp;&nbsp; 244282 |
| &nbsp;&nbsp;&nbsp; 6.88%, 03/15/34 |  | 103 | &nbsp;&nbsp; 104249 |
|  |  |  | &nbsp;&nbsp; 348531 |
| **Internet Software & Services**<sup>(b)</sup> **— 0.2%** | **Internet Software & Services**<sup>(b)</sup> **— 0.2%** | **Internet Software & Services**<sup>(b)</sup> **— 0.2%** | **Internet Software & Services**<sup>(b)</sup> **— 0.2%** |
| &nbsp;&nbsp;&nbsp; Acuris Finance U.S., Inc./Acuris Finance SARL, 5.00%, <br> 05/01/28<br>|  | 200 | &nbsp;&nbsp; 194375 |
| ANGI Group LLC, 3.88%, 08/15/28 |  | 80 | &nbsp;&nbsp; 75188 |
| Getty Images, Inc., 11.25%, 02/21/30 |  | 393 | &nbsp;&nbsp; 375288 |
| Match Group Holdings II LLC |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.13%, 08/01/30 |  | 137 | &nbsp;&nbsp; 129395 |
| &nbsp;&nbsp;&nbsp; 3.63%, 10/01/31 |  | 65 | &nbsp;&nbsp; 58911 |
| &nbsp;&nbsp;&nbsp; 6.13%, 09/15/33 |  | 108 | &nbsp;&nbsp; 108949 |
| Rakuten Group, Inc., 9.75%, 04/15/29 |  | 200 | &nbsp;&nbsp; 224893 |
| Uber Technologies, Inc., 4.50%, 08/15/29 |  | 330 | &nbsp;&nbsp; 329064 |
|  |  |  | &nbsp;&nbsp; 1496063 |
| **IT Services**<sup>(b)</sup> **— 0.2%** | **IT Services**<sup>(b)</sup> **— 0.2%** | **IT Services**<sup>(b)</sup> **— 0.2%** | **IT Services**<sup>(b)</sup> **— 0.2%** |
| Amentum Holdings, Inc., 7.25%, 08/01/32 |  | 63 | &nbsp;&nbsp; 65417 |
| CA Magnum Holdings, 5.38%, 10/31/26 |  | 201 | &nbsp;&nbsp; 200020 |
| CACI International, Inc., 6.38%, 06/15/33 |  | 105 | &nbsp;&nbsp; 108313 |
| Fair Isaac Corp., 6.00%, 05/15/33 |  | 346 | &nbsp;&nbsp; 350305 |
| Fortress Intermediate 3, Inc., 7.50%, 06/01/31 |  | 210 | &nbsp;&nbsp; 219879 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **IT Services (continued)** | **IT Services (continued)** | **IT Services (continued)** | **IT Services (continued)** |
| KBR, Inc., 4.75%, 09/30/28 | USD | 75 | &nbsp;&nbsp; $74173 |
| McAfee Corp., 7.38%, 02/15/30 |  | 133 | &nbsp;&nbsp; 123370 |
| &nbsp;&nbsp;&nbsp; Science Applications International Corp., 5.88%, <br> 11/01/33<br>|  | 75 | &nbsp;&nbsp; 75023 |
|  |  |  | &nbsp;&nbsp; 1216500 |
| **Machinery — 0.4%** | **Machinery — 0.4%** | **Machinery — 0.4%** | **Machinery — 0.4%** |
| ATS Corp., 4.13%, 12/15/28<sup>(b)</sup> |  | 35 | &nbsp;&nbsp; 33533 |
| Chart Industries, Inc., 7.50%, 01/01/30<sup>(b)</sup> |  | 213 | &nbsp;&nbsp; 221677 |
| Esab Corp., 6.25%, 04/15/29<sup>(b)</sup> |  | 66 | &nbsp;&nbsp; 67802 |
| GrafTech Global Enterprises, Inc., 9.88%, 12/23/29<sup>(b)</sup> |  | 35 | &nbsp;&nbsp; 29837 |
| &nbsp;&nbsp;&nbsp; Husky Injection Molding Systems Ltd./Titan Co-Borrower <br> LLC, 9.00%, 02/15/29<sup>(b)</sup><br>|  | 586 | &nbsp;&nbsp; 612482 |
| Manitowoc Co., Inc., 9.25%, 10/01/31<sup>(b)</sup> |  | 32 | &nbsp;&nbsp; 33575 |
| Terex Corp., 6.25%, 10/15/32<sup>(b)</sup> |  | 43 | &nbsp;&nbsp; 43804 |
| TK Elevator Midco GmbH, 4.38%, 07/15/27<sup>(i)</sup> | EUR | 200 | &nbsp;&nbsp; 235074 |
| TK Elevator U.S. Newco, Inc., 5.25%, 07/15/27<sup>(b)</sup> | USD | 515 | &nbsp;&nbsp; 513179 |
| Vertiv Group Corp., 4.13%, 11/15/28<sup>(b)</sup> |  | 781 | &nbsp;&nbsp; 762630 |
|  |  |  | &nbsp;&nbsp; 2553593 |
| **Media — 1.0%** | **Media — 1.0%** | **Media — 1.0%** | **Media — 1.0%** |
| &nbsp;&nbsp;&nbsp; Adelphia Communications Corp., 10.50%, <br> 12/31/49<sup>(c)(d)(h)</sup><br>|  | 400 | &nbsp;&nbsp; — |
| Cable One, Inc.<sup>(j)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 0.00%, 03/15/26<sup>(l)</sup> |  | 28 | &nbsp;&nbsp; 27272 |
| &nbsp;&nbsp;&nbsp; 1.13%, 03/15/28 |  | 111 | &nbsp;&nbsp; 94738 |
| CCO Holdings LLC/CCO Holdings Capital Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.38%, 06/01/29<sup>(b)</sup> |  | 376 | &nbsp;&nbsp; 373493 |
| &nbsp;&nbsp;&nbsp; 6.38%, 09/01/29<sup>(b)</sup> |  | 227 | &nbsp;&nbsp; 230118 |
| &nbsp;&nbsp;&nbsp; 4.75%, 03/01/30<sup>(b)</sup> |  | 129 | &nbsp;&nbsp; 123784 |
| &nbsp;&nbsp;&nbsp; 4.50%, 08/15/30<sup>(b)</sup> |  | 22 | &nbsp;&nbsp; 20777 |
| &nbsp;&nbsp;&nbsp; 4.25%, 02/01/31<sup>(b)</sup> |  | 102 | &nbsp;&nbsp; 93966 |
| &nbsp;&nbsp;&nbsp; 7.38%, 03/01/31<sup>(b)</sup> |  | 627 | &nbsp;&nbsp; 646929 |
| &nbsp;&nbsp;&nbsp; 4.75%, 02/01/32<sup>(b)</sup> |  | 37 | &nbsp;&nbsp; 34216 |
| &nbsp;&nbsp;&nbsp; 4.50%, 05/01/32 |  | 7 | &nbsp;&nbsp; 6370 |
| &nbsp;&nbsp;&nbsp; 4.50%, 06/01/33<sup>(b)</sup> |  | 9 | &nbsp;&nbsp; 8001 |
| &nbsp;&nbsp;&nbsp; 4.25%, 01/15/34<sup>(b)</sup> |  | 218 | &nbsp;&nbsp; 188475 |
| Cinemark USA, Inc., 7.00%, 08/01/32<sup>(b)</sup> |  | 19 | &nbsp;&nbsp; 19748 |
| CSC Holdings LLC<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.50%, 04/15/27 |  | 200 | &nbsp;&nbsp; 189826 |
| &nbsp;&nbsp;&nbsp; 5.38%, 02/01/28 |  | 200 | &nbsp;&nbsp; 175337 |
| &nbsp;&nbsp;&nbsp; 11.25%, 05/15/28 |  | 400 | &nbsp;&nbsp; 370303 |
| Directv Financing LLC, 8.88%, 02/01/30<sup>(b)</sup> |  | 154 | &nbsp;&nbsp; 152109 |
| &nbsp;&nbsp;&nbsp; Directv Financing LLC/Directv Financing Co-Obligor, <br> Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.88%, 08/15/27 |  | 95 | &nbsp;&nbsp; 94893 |
| &nbsp;&nbsp;&nbsp; 10.00%, 02/15/31 |  | 171 | &nbsp;&nbsp; 170749 |
| DISH DBS Corp.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.25%, 12/01/26 |  | 219 | &nbsp;&nbsp; 215188 |
| &nbsp;&nbsp;&nbsp; 5.75%, 12/01/28 |  | 215 | &nbsp;&nbsp; 206108 |
| DISH Network Corp., 11.75%, 11/15/27<sup>(b)</sup> |  | 593 | &nbsp;&nbsp; 627546 |
| Gray Media, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 10.50%, 07/15/29 |  | 101 | &nbsp;&nbsp; 109206 |
| &nbsp;&nbsp;&nbsp; 9.63%, 07/15/32 |  | 133 | &nbsp;&nbsp; 135878 |
| &nbsp;&nbsp;&nbsp; 7.25%, 08/15/33 |  | 167 | &nbsp;&nbsp; 165489 |
| &nbsp;&nbsp;&nbsp; LCPR Senior Secured Financing DAC, 6.75%, <br> 10/15/27<sup>(b)</sup><br>|  | 180 | &nbsp;&nbsp; 107778 |
| Live Nation Entertainment, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 4.75%, 10/15/27 |  | 58 | &nbsp;&nbsp; 57616 |
| &nbsp;&nbsp;&nbsp; 3.75%, 01/15/28 |  | 35 | &nbsp;&nbsp; 34148 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Debt Strategies Fund, Inc. (DSU)** 

**(Percentages shown are based on Net Assets)**

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Media (continued)** | **Media (continued)** | **Media (continued)** | **Media (continued)** |
| Midcontinent Communications, 8.00%, 08/15/32<sup>(b)</sup> | USD | 111 | &nbsp;&nbsp; $114364 |
| Odeon Finco PLC, 12.75%, 11/01/27<sup>(b)</sup> |  | 519 | &nbsp;&nbsp; 537555 |
| Sinclair Television Group, Inc., 8.13%, 02/15/33<sup>(b)</sup> |  | 169 | &nbsp;&nbsp; 173440 |
| Sirius XM Radio LLC<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 3.13%, 09/01/26 |  | 8 | &nbsp;&nbsp; 7890 |
| &nbsp;&nbsp;&nbsp; 5.00%, 08/01/27 |  | 24 | &nbsp;&nbsp; 23885 |
| &nbsp;&nbsp;&nbsp; 4.00%, 07/15/28 |  | 53 | &nbsp;&nbsp; 51212 |
| Univision Communications, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 8.00%, 08/15/28 |  | 341 | &nbsp;&nbsp; 353351 |
| &nbsp;&nbsp;&nbsp; 8.50%, 07/31/31 |  | 202 | &nbsp;&nbsp; 208594 |
| &nbsp;&nbsp;&nbsp; 9.38%, 08/01/32 |  | 127 | &nbsp;&nbsp; 135340 |
|  |  |  | &nbsp;&nbsp; 6285692 |
| **Metals & Mining — 0.6%** | **Metals & Mining — 0.6%** | **Metals & Mining — 0.6%** | **Metals & Mining — 0.6%** |
| Advanced Drainage Systems, Inc., 6.38%, 06/15/30<sup>(b)</sup> |  | 184 | &nbsp;&nbsp; 187259 |
| Arsenal AIC Parent LLC<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 8.00%, 10/01/30 |  | 46 | &nbsp;&nbsp; 48704 |
| &nbsp;&nbsp;&nbsp; 11.50%, 10/01/31 |  | 426 | &nbsp;&nbsp; 473127 |
| &nbsp;&nbsp;&nbsp; Big River Steel LLC/BRS Finance Corp., 6.63%, <br> 01/31/29<sup>(b)</sup><br>|  | 296 | &nbsp;&nbsp; 296116 |
| Carpenter Technology Corp., 7.63%, 03/15/30 |  | 65 | &nbsp;&nbsp; 66796 |
| Cleveland-Cliffs, Inc., 6.88%, 11/01/29<sup>(b)</sup> |  | 165 | &nbsp;&nbsp; 168146 |
| Constellium SE<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 3.75%, 04/15/29 |  | 250 | &nbsp;&nbsp; 237871 |
| &nbsp;&nbsp;&nbsp; 6.38%, 08/15/32 |  | 250 | &nbsp;&nbsp; 255550 |
| ERO Copper Corp., 6.50%, 02/15/30<sup>(b)</sup> |  | 105 | &nbsp;&nbsp; 104386 |
| Kaiser Aluminum Corp.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 4.63%, 03/01/28 |  | 63 | &nbsp;&nbsp; 62294 |
| &nbsp;&nbsp;&nbsp; 4.50%, 06/01/31 |  | 468 | &nbsp;&nbsp; 441104 |
| New Gold, Inc., 6.88%, 04/01/32<sup>(b)</sup> |  | 164 | &nbsp;&nbsp; 171777 |
| Novelis Corp.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 4.75%, 01/30/30 |  | 195 | &nbsp;&nbsp; 187915 |
| &nbsp;&nbsp;&nbsp; 6.88%, 01/30/30 |  | 123 | &nbsp;&nbsp; 127548 |
| &nbsp;&nbsp;&nbsp; 3.88%, 08/15/31 |  | 81 | &nbsp;&nbsp; 73847 |
| &nbsp;&nbsp;&nbsp; 6.38%, 08/15/33 |  | 176 | &nbsp;&nbsp; 177819 |
| Novelis Sheet Ingot GmbH, 3.38%, 04/15/29<sup>(i)</sup> | EUR | 100 | &nbsp;&nbsp; 114304 |
| Vallourec SACA, 7.50%, 04/15/32<sup>(b)</sup> | USD | 200 | &nbsp;&nbsp; 213093 |
|  |  |  | &nbsp;&nbsp; 3407656 |
| **Mortgage Real Estate Investment Trusts (REITs)**<sup>(b)</sup> **— 0.1%** | **Mortgage Real Estate Investment Trusts (REITs)**<sup>(b)</sup> **— 0.1%** | **Mortgage Real Estate Investment Trusts (REITs)**<sup>(b)</sup> **— 0.1%** | **Mortgage Real Estate Investment Trusts (REITs)**<sup>(b)</sup> **— 0.1%** |
| Arbor Realty SR, Inc., 7.88%, 07/15/30 |  | 46 | &nbsp;&nbsp; 48366 |
| Blackstone Mortgage Trust, Inc., 3.75%, 01/15/27 |  | 124 | &nbsp;&nbsp; 121057 |
| Starwood Property Trust, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 7.25%, 04/01/29 |  | 43 | &nbsp;&nbsp; 45152 |
| &nbsp;&nbsp;&nbsp; 6.00%, 04/15/30 |  | 21 | &nbsp;&nbsp; 21319 |
| &nbsp;&nbsp;&nbsp; 6.50%, 07/01/30 |  | 41 | &nbsp;&nbsp; 42408 |
| &nbsp;&nbsp;&nbsp; 6.50%, 10/15/30 |  | 182 | &nbsp;&nbsp; 188000 |
|  |  |  | &nbsp;&nbsp; 466302 |
| **Multi-Utilities — 0.0%** | **Multi-Utilities — 0.0%** | **Multi-Utilities — 0.0%** | **Multi-Utilities — 0.0%** |
| &nbsp;&nbsp;&nbsp; AmeriGas Partners LP/AmeriGas Finance Corp., 9.50%, <br> 06/01/30<sup>(b)</sup><br>|  | 38 | &nbsp;&nbsp; 39781 |
| **Oil, Gas & Consumable Fuels — 1.4%** | **Oil, Gas & Consumable Fuels — 1.4%** | **Oil, Gas & Consumable Fuels — 1.4%** | **Oil, Gas & Consumable Fuels — 1.4%** |
| &nbsp;&nbsp;&nbsp; Aethon United BR LP/Aethon United Finance Corp., <br> 7.50%, 10/01/29<sup>(b)</sup><br>|  | 93 | &nbsp;&nbsp; 96989 |
| &nbsp;&nbsp;&nbsp; Antero Midstream Partners LP/Antero Midstream <br> Finance Corp., 5.38%, 06/15/29<sup>(b)</sup><br>|  | 66 | &nbsp;&nbsp; 65758 |
| &nbsp;&nbsp;&nbsp; Ascent Resources Utica Holdings LLC/ARU Finance <br> Corp.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 9.00%, 11/01/27 |  | 38 | &nbsp;&nbsp; 45910 |
| &nbsp;&nbsp;&nbsp; 5.88%, 06/30/29 |  | 89 | &nbsp;&nbsp; 88817 |
| &nbsp;&nbsp;&nbsp; 6.63%, 07/15/33 |  | 54 | &nbsp;&nbsp; 54900 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Oil, Gas & Consumable Fuels (continued)** | **Oil, Gas & Consumable Fuels (continued)** | **Oil, Gas & Consumable Fuels (continued)** | **Oil, Gas & Consumable Fuels (continued)** |
| Blue Racer Midstream LLC/Blue Racer Finance Corp.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 7.00%, 07/15/29 | USD | 56 | &nbsp;&nbsp; $58068 |
| &nbsp;&nbsp;&nbsp; 7.25%, 07/15/32 |  | 45 | &nbsp;&nbsp; 47325 |
| Buckeye Partners LP |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.88%, 07/01/29<sup>(b)</sup> |  | 4 | &nbsp;&nbsp; 4145 |
| &nbsp;&nbsp;&nbsp; 6.75%, 02/01/30<sup>(b)</sup> |  | 23 | &nbsp;&nbsp; 23889 |
| &nbsp;&nbsp;&nbsp; 5.85%, 11/15/43 |  | 16 | &nbsp;&nbsp; 14923 |
| &nbsp;&nbsp;&nbsp; 5.60%, 10/15/44 |  | 1 | &nbsp;&nbsp; 909 |
| Caturus Energy LLC, 8.50%, 02/15/30<sup>(b)</sup> |  | 176 | &nbsp;&nbsp; 183246 |
| Chord Energy Corp., 6.75%, 03/15/33<sup>(b)</sup> |  | 30 | &nbsp;&nbsp; 30396 |
| CITGO Petroleum Corp., 8.38%, 01/15/29<sup>(b)</sup> |  | 130 | &nbsp;&nbsp; 135095 |
| Civitas Resources, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 8.38%, 07/01/28 |  | 57 | &nbsp;&nbsp; 59083 |
| &nbsp;&nbsp;&nbsp; 8.75%, 07/01/31 |  | 48 | &nbsp;&nbsp; 49177 |
| CNX Midstream Partners LP, 4.75%, 04/15/30<sup>(b)</sup> |  | 32 | &nbsp;&nbsp; 30686 |
| CNX Resources Corp., 7.25%, 03/01/32<sup>(b)</sup> |  | 29 | &nbsp;&nbsp; 30085 |
| Comstock Resources, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.75%, 03/01/29 |  | 350 | &nbsp;&nbsp; 349280 |
| &nbsp;&nbsp;&nbsp; 5.88%, 01/15/30 |  | 2 | &nbsp;&nbsp; 1926 |
| &nbsp;&nbsp;&nbsp; CQP Holdco LP/BIP-V Chinook Holdco LLC, 5.50%, <br> 06/15/31<sup>(b)</sup><br>|  | 250 | &nbsp;&nbsp; 247676 |
| Crescent Energy Finance LLC<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 7.63%, 04/01/32 |  | 171 | &nbsp;&nbsp; 169819 |
| &nbsp;&nbsp;&nbsp; 7.38%, 01/15/33 |  | 147 | &nbsp;&nbsp; 143129 |
| &nbsp;&nbsp;&nbsp; 8.38%, 01/15/34 |  | 120 | &nbsp;&nbsp; 121584 |
| &nbsp;&nbsp;&nbsp; Delek Logistics Partners LP/Delek Logistics Finance <br> Corp., 7.38%, 06/30/33<sup>(b)</sup><br>|  | 92 | &nbsp;&nbsp; 93554 |
| &nbsp;&nbsp;&nbsp; Diamond Foreign Asset Co./Diamond Finance LLC, <br> 8.50%, 10/01/30<sup>(b)</sup><br>|  | 35 | &nbsp;&nbsp; 37089 |
| eG Global Finance PLC, 12.00%, 11/30/28<sup>(b)</sup> |  | 415 | &nbsp;&nbsp; 455818 |
| Enbridge, Inc.<sup>(a)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; (5-year CMT + 2.97%), 7.20%, 06/27/54 |  | 40 | &nbsp;&nbsp; 42417 |
| &nbsp;&nbsp;&nbsp; (5-year CMT + 3.12%), 7.38%, 03/15/55 |  | 54 | &nbsp;&nbsp; 57131 |
| Energy Transfer LP<sup>(a)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; (5-year CMT + 2.83%), 7.13%, 10/01/54 |  | 75 | &nbsp;&nbsp; 77630 |
| &nbsp;&nbsp;&nbsp; (5-year CMT + 4.02%), 8.00%, 05/15/54 |  | 127 | &nbsp;&nbsp; 135715 |
| &nbsp;&nbsp;&nbsp; Series H, (5-year CMT + 5.69%), 6.50%<sup>(k)</sup> |  | 129 | &nbsp;&nbsp; 129481 |
| Excelerate Energy LP, 8.00%, 05/15/30<sup>(b)</sup> |  | 57 | &nbsp;&nbsp; 60675 |
| Genesis Energy LP/Genesis Energy Finance Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; 7.75%, 02/01/28 |  | 29 | &nbsp;&nbsp; 29204 |
| &nbsp;&nbsp;&nbsp; 7.88%, 05/15/32 |  | 67 | &nbsp;&nbsp; 69878 |
| &nbsp;&nbsp;&nbsp; 8.00%, 05/15/33 |  | 43 | &nbsp;&nbsp; 44976 |
| &nbsp;&nbsp;&nbsp; Global Partners LP/GLP Finance Corp., 7.13%, <br> 07/01/33<sup>(b)</sup><br>|  | 39 | &nbsp;&nbsp; 39974 |
| Gulfport Energy Operating Corp., 6.75%, 09/01/29<sup>(b)</sup> |  | 45 | &nbsp;&nbsp; 46179 |
| Harvest Midstream I LP, 7.50%, 05/15/32<sup>(b)</sup> |  | 25 | &nbsp;&nbsp; 25538 |
| Hess Midstream Operations LP<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.50%, 06/01/29 |  | 70 | &nbsp;&nbsp; 72193 |
| &nbsp;&nbsp;&nbsp; 4.25%, 02/15/30 |  | 34 | &nbsp;&nbsp; 32954 |
| Hilcorp Energy I LP/Hilcorp Finance Co.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.25%, 11/01/28 |  | 3 | &nbsp;&nbsp; 3007 |
| &nbsp;&nbsp;&nbsp; 5.75%, 02/01/29 |  | 54 | &nbsp;&nbsp; 53195 |
| &nbsp;&nbsp;&nbsp; 6.00%, 04/15/30 |  | 5 | &nbsp;&nbsp; 4914 |
| &nbsp;&nbsp;&nbsp; 6.25%, 04/15/32 |  | 5 | &nbsp;&nbsp; 4797 |
| &nbsp;&nbsp;&nbsp; 8.38%, 11/01/33 |  | 144 | &nbsp;&nbsp; 151240 |
| &nbsp;&nbsp;&nbsp; 6.88%, 05/15/34 |  | 97 | &nbsp;&nbsp; 93261 |
| &nbsp;&nbsp;&nbsp; 7.25%, 02/15/35 |  | 34 | &nbsp;&nbsp; 33228 |
| Howard Midstream Energy Partners LLC<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 7.38%, 07/15/32 |  | 27 | &nbsp;&nbsp; 28027 |
| &nbsp;&nbsp;&nbsp; 6.63%, 01/15/34 |  | 97 | &nbsp;&nbsp; 98899 |
| ITT Holdings LLC, 6.50%, 08/01/29<sup>(b)</sup> |  | 149 | &nbsp;&nbsp; 146487 |
| Kinetik Holdings LP, 5.88%, 06/15/30<sup>(b)</sup> |  | 6 | &nbsp;&nbsp; 6035 |

---

------

Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Debt Strategies Fund, Inc. (DSU)** 

**(Percentages shown are based on Net Assets)**

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Oil, Gas & Consumable Fuels (continued)** | **Oil, Gas & Consumable Fuels (continued)** | **Oil, Gas & Consumable Fuels (continued)** | **Oil, Gas & Consumable Fuels (continued)** |
| &nbsp;&nbsp;&nbsp; Magnolia Oil & Gas Operating LLC/Magnolia Oil & Gas <br> Finance Corp., 6.88%, 12/01/32<sup>(b)</sup><br>| USD | 82 | &nbsp;&nbsp; $84150 |
| Matador Resources Co.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.88%, 04/15/28 |  | 64 | &nbsp;&nbsp; 65314 |
| &nbsp;&nbsp;&nbsp; 6.50%, 04/15/32 |  | 75 | &nbsp;&nbsp; 75718 |
| Nabors Industries, Inc., 7.38%, 05/15/27<sup>(b)</sup> |  | 36 | &nbsp;&nbsp; 36544 |
| &nbsp;&nbsp;&nbsp; NGL Energy Operating LLC/NGL Energy Finance <br> Corp.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 8.13%, 02/15/29 |  | 79 | &nbsp;&nbsp; 81000 |
| &nbsp;&nbsp;&nbsp; 8.38%, 02/15/32 |  | 200 | &nbsp;&nbsp; 204929 |
| Noble Finance II LLC, 8.00%, 04/15/30<sup>(b)</sup> |  | 37 | &nbsp;&nbsp; 38297 |
| Northern Oil & Gas, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 8.13%, 03/01/28 |  | 207 | &nbsp;&nbsp; 209923 |
| &nbsp;&nbsp;&nbsp; 10/15/33<sup>(f)</sup> |  | 157 | &nbsp;&nbsp; 156379 |
| Northriver Midstream Finance LP, 6.75%, 07/15/32<sup>(b)</sup> |  | 42 | &nbsp;&nbsp; 42949 |
| Parkland Corp., 6.63%, 08/15/32<sup>(b)</sup> |  | 45 | &nbsp;&nbsp; 46240 |
| &nbsp;&nbsp;&nbsp; PBF Holding Co. LLC/PBF Finance Corp., 7.88%, <br> 09/15/30<sup>(b)</sup><br>|  | 34 | &nbsp;&nbsp; 33569 |
| Permian Resources Operating LLC<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 8.00%, 04/15/27 |  | 70 | &nbsp;&nbsp; 71087 |
| &nbsp;&nbsp;&nbsp; 7.00%, 01/15/32 |  | 57 | &nbsp;&nbsp; 59117 |
| &nbsp;&nbsp;&nbsp; 6.25%, 02/01/33 |  | 135 | &nbsp;&nbsp; 137518 |
| Prairie Acquiror LP, 9.00%, 08/01/29<sup>(b)</sup> |  | 50 | &nbsp;&nbsp; 52055 |
| Rockies Express Pipeline LLC, 4.95%, 07/15/29<sup>(b)</sup> |  | 14 | &nbsp;&nbsp; 13886 |
| Sunoco LP<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.63%, 03/15/31 |  | 40 | &nbsp;&nbsp; 39705 |
| &nbsp;&nbsp;&nbsp; 6.25%, 07/01/33 |  | 66 | &nbsp;&nbsp; 67178 |
| &nbsp;&nbsp;&nbsp; 5.88%, 03/15/34 |  | 40 | &nbsp;&nbsp; 39654 |
| &nbsp;&nbsp;&nbsp; Tallgrass Energy Partners LP/Tallgrass Energy Finance <br> Corp.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.50%, 01/15/28 |  | 35 | &nbsp;&nbsp; 34822 |
| &nbsp;&nbsp;&nbsp; 7.38%, 02/15/29 |  | 149 | &nbsp;&nbsp; 153447 |
| &nbsp;&nbsp;&nbsp; 6.00%, 12/31/30 |  | 2 | &nbsp;&nbsp; 1975 |
| &nbsp;&nbsp;&nbsp; 6.00%, 09/01/31 |  | 32 | &nbsp;&nbsp; 31310 |
| TGNR Intermediate Holdings LLC, 5.50%, 10/15/29<sup>(b)</sup> |  | 135 | &nbsp;&nbsp; 132103 |
| TransMontaigne Partners LLC, 8.50%, 06/15/30<sup>(b)</sup> |  | 15 | &nbsp;&nbsp; 15630 |
| Transocean International Ltd.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 8.00%, 02/01/27 |  | 89 | &nbsp;&nbsp; 88876 |
| &nbsp;&nbsp;&nbsp; 8.25%, 05/15/29 |  | 53 | &nbsp;&nbsp; 52251 |
| &nbsp;&nbsp;&nbsp; 8.75%, 02/15/30 |  | 35 | &nbsp;&nbsp; 37089 |
| &nbsp;&nbsp;&nbsp; 8.50%, 05/15/31 |  | 63 | &nbsp;&nbsp; 61742 |
| &nbsp;&nbsp;&nbsp; 10/15/32<sup>(f)</sup> |  | 62 | &nbsp;&nbsp; 62000 |
| Transocean Titan Financing Ltd., 8.38%, 02/01/28<sup>(b)</sup> |  | 11 | &nbsp;&nbsp; 10783 |
| Valaris Ltd., 8.38%, 04/30/30<sup>(b)</sup> |  | 139 | &nbsp;&nbsp; 144260 |
| Venture Global LNG, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 9.50%, 02/01/29 |  | 540 | &nbsp;&nbsp; 595093 |
| &nbsp;&nbsp;&nbsp; 8.38%, 06/01/31 |  | 233 | &nbsp;&nbsp; 244643 |
| &nbsp;&nbsp;&nbsp; 9.88%, 02/01/32 |  | 205 | &nbsp;&nbsp; 223188 |
| Venture Global Plaquemines LNG LLC<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 7.50%, 05/01/33 |  | 91 | &nbsp;&nbsp; 100556 |
| &nbsp;&nbsp;&nbsp; 6.50%, 01/15/34 |  | 280 | &nbsp;&nbsp; 294744 |
| &nbsp;&nbsp;&nbsp; 7.75%, 05/01/35 |  | 81 | &nbsp;&nbsp; 91425 |
| &nbsp;&nbsp;&nbsp; 6.75%, 01/15/36 |  | 292 | &nbsp;&nbsp; 310156 |
| Vital Energy, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 7.75%, 07/31/29<sup>(b)</sup> |  | 27 | &nbsp;&nbsp; 26738 |
| &nbsp;&nbsp;&nbsp; 9.75%, 10/15/30 |  | 66 | &nbsp;&nbsp; 68908 |
| &nbsp;&nbsp;&nbsp; 7.88%, 04/15/32<sup>(b)</sup> |  | 128 | &nbsp;&nbsp; 124254 |
| Wildfire Intermediate Holdings LLC, 7.50%, 10/15/29<sup>(b)</sup> |  | 71 | &nbsp;&nbsp; 71737 |
|  |  |  | &nbsp;&nbsp; 8659253 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Passenger Airlines**<sup>(b)</sup> **— 0.0%** | **Passenger Airlines**<sup>(b)</sup> **— 0.0%** | **Passenger Airlines**<sup>(b)</sup> **— 0.0%** | **Passenger Airlines**<sup>(b)</sup> **— 0.0%** |
| American Airlines, Inc., 8.50%, 05/15/29 | USD | 74 | &nbsp;&nbsp; $77193 |
| &nbsp;&nbsp;&nbsp; American Airlines, Inc./AAdvantage Loyalty IP Ltd., <br> 5.75%, 04/20/29<br>|  | 12 | &nbsp;&nbsp; 11544 |
| &nbsp;&nbsp;&nbsp; JetBlue Airways Corp./JetBlue Loyalty LP, 9.88%, <br> 09/20/31<br>|  | 75 | &nbsp;&nbsp; 76071 |
| OneSky Flight LLC, 8.88%, 12/15/29 |  | 59 | &nbsp;&nbsp; 62042 |
| United Airlines, Inc., 4.63%, 04/15/29 |  | 31 | &nbsp;&nbsp; 30525 |
|  |  |  | &nbsp;&nbsp; 257375 |
| **Personal Care Products — 0.1%** | **Personal Care Products — 0.1%** | **Personal Care Products — 0.1%** | **Personal Care Products — 0.1%** |
| Opal Bidco SAS, 6.50%, 03/31/32<sup>(b)</sup> |  | 200 | &nbsp;&nbsp; 204949 |
| Perrigo Finance Unlimited Co., 6.13%, 09/30/32 |  | 236 | &nbsp;&nbsp; 237583 |
|  |  |  | &nbsp;&nbsp; 442532 |
| **Pharmaceuticals — 0.4%** | **Pharmaceuticals — 0.4%** | **Pharmaceuticals — 0.4%** | **Pharmaceuticals — 0.4%** |
| 1261229 B.C. Ltd., 10.00%, 04/15/32<sup>(b)</sup> |  | 1655 | &nbsp;&nbsp; 1697297 |
| Amneal Pharmaceuticals LLC, 6.88%, 08/01/32<sup>(b)</sup> |  | 56 | &nbsp;&nbsp; 57916 |
| Bausch Health Cos., Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 4.88%, 06/01/28 |  | 17 | &nbsp;&nbsp; 15215 |
| &nbsp;&nbsp;&nbsp; 11.00%, 09/30/28 |  | 386 | &nbsp;&nbsp; 401447 |
| Option Care Health, Inc., 4.38%, 10/31/29<sup>(b)</sup> |  | 79 | &nbsp;&nbsp; 76189 |
| &nbsp;&nbsp;&nbsp; Teva Pharmaceutical Finance Netherlands III BV, 3.15%, <br> 10/01/26<br>|  | 130 | &nbsp;&nbsp; 127400 |
|  |  |  | &nbsp;&nbsp; 2375464 |
| **Real Estate Management & Development — 0.1%** | **Real Estate Management & Development — 0.1%** | **Real Estate Management & Development — 0.1%** | **Real Estate Management & Development — 0.1%** |
| &nbsp;&nbsp;&nbsp; Anywhere Real Estate Group LLC/Anywhere Co-Issuer <br> Corp.<br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 7.00%, 04/15/30<sup>(b)</sup> |  | 37 | &nbsp;&nbsp; 37842 |
| &nbsp;&nbsp;&nbsp; Series AI, 7.00%, 04/15/30 |  | 80 | &nbsp;&nbsp; 80960 |
| &nbsp;&nbsp;&nbsp; Anywhere Real Estate Group LLC/Realogy Co-Issuer <br> Corp., 9.75%, 04/15/30<sup>(b)</sup><br>|  | 42 | &nbsp;&nbsp; 45836 |
| &nbsp;&nbsp;&nbsp; Cushman & Wakefield U.S. Borrower LLC, 8.88%, <br> 09/01/31<sup>(b)</sup><br>|  | 208 | &nbsp;&nbsp; 222003 |
| Five Point Operating Co. LP, 8.00%, 10/01/30<sup>(b)</sup> |  | 27 | &nbsp;&nbsp; 27399 |
| Howard Hughes Corp., 4.38%, 02/01/31<sup>(b)</sup> |  | 53 | &nbsp;&nbsp; 49691 |
|  |  |  | &nbsp;&nbsp; 463731 |
| **Retail REITs — 0.0%** | **Retail REITs — 0.0%** | **Retail REITs — 0.0%** | **Retail REITs — 0.0%** |
| &nbsp;&nbsp;&nbsp; Brookfield Property REIT, Inc./BPR Cumulus LLC/BPR <br> Nimbus LLC/GGSI Sellco LLC, 4.50%, 04/01/27<sup>(b)</sup><br>|  | 97 | &nbsp;&nbsp; 95269 |
| **Semiconductors & Semiconductor Equipment — 0.0%** | **Semiconductors & Semiconductor Equipment — 0.0%** | **Semiconductors & Semiconductor Equipment — 0.0%** | **Semiconductors & Semiconductor Equipment — 0.0%** |
| Amkor Technology, Inc., 5.88%, 10/01/33<sup>(b)</sup> |  | 25 | &nbsp;&nbsp; 25255 |
| MKS, Inc., 1.25%, 06/01/30<sup>(j)</sup> |  | 134 | &nbsp;&nbsp; 146730 |
| ON Semiconductor Corp., 0.50%, 03/01/29<sup>(j)</sup> |  | 61 | &nbsp;&nbsp; 56283 |
|  |  |  | &nbsp;&nbsp; 228268 |
| **Software — 1.2%** | **Software — 1.2%** | **Software — 1.2%** | **Software — 1.2%** |
| AthenaHealth Group, Inc., 6.50%, 02/15/30<sup>(b)</sup> |  | 1274 | &nbsp;&nbsp; 1263576 |
| Camelot Finance SA, 4.50%, 11/01/26<sup>(b)</sup> |  | 21 | &nbsp;&nbsp; 20928 |
| Capstone Borrower, Inc., 8.00%, 06/15/30<sup>(b)</sup> |  | 280 | &nbsp;&nbsp; 292822 |
| &nbsp;&nbsp;&nbsp; Central Parent LLC/CDK Global II LLC/CDK Financing <br> Co., Inc., 8.00%, 06/15/29<sup>(b)</sup><br>|  | 219 | &nbsp;&nbsp; 192995 |
| &nbsp;&nbsp;&nbsp; Central Parent, Inc./CDK Global, Inc., 7.25%, <br> 06/15/29<sup>(b)</sup><br>|  | 68 | &nbsp;&nbsp; 58552 |
| Cloud Software Group, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.50%, 03/31/29 |  | 688 | &nbsp;&nbsp; 694206 |
| &nbsp;&nbsp;&nbsp; 9.00%, 09/30/29 |  | 1603 | &nbsp;&nbsp; 1662642 |
| &nbsp;&nbsp;&nbsp; 8.25%, 06/30/32 |  | 669 | &nbsp;&nbsp; 709644 |
| CoreLogic, Inc., 4.50%, 05/01/28<sup>(b)</sup> |  | 345 | &nbsp;&nbsp; 334513 |
| CoreWeave, Inc., 9.25%, 06/01/30<sup>(b)</sup> |  | 89 | &nbsp;&nbsp; 91919 |
| Electronic Arts, Inc., 2.95%, 02/15/51 |  | 49 | &nbsp;&nbsp; 42494 |
| Ellucian Holdings, Inc., 6.50%, 12/01/29<sup>(b)</sup> |  | 302 | &nbsp;&nbsp; 306807 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Debt Strategies Fund, Inc. (DSU)** 

**(Percentages shown are based on Net Assets)**

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Software (continued)** | **Software (continued)** | **Software (continued)** | **Software (continued)** |
| Playtika Holding Corp., 4.25%, 03/15/29<sup>(b)</sup> | USD | 21 | &nbsp;&nbsp; $19279 |
| SS&C Technologies, Inc., 6.50%, 06/01/32<sup>(b)</sup> |  | 342 | &nbsp;&nbsp; 353572 |
| Twilio, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 3.63%, 03/15/29 |  | 22 | &nbsp;&nbsp; 20964 |
| &nbsp;&nbsp;&nbsp; 3.88%, 03/15/31 |  | 43 | &nbsp;&nbsp; 40432 |
| UKG, Inc., 6.88%, 02/01/31<sup>(b)</sup> |  | 861 | &nbsp;&nbsp; 888410 |
| &nbsp;&nbsp;&nbsp; ZoomInfo Technologies LLC/ZoomInfo Finance Corp., <br> 3.88%, 02/01/29<sup>(b)</sup><br>|  | 162 | &nbsp;&nbsp; 153546 |
|  |  |  | &nbsp;&nbsp; 7147301 |
| **Specialty Retail**<sup>(b)</sup> **— 0.0%** | **Specialty Retail**<sup>(b)</sup> **— 0.0%** | **Specialty Retail**<sup>(b)</sup> **— 0.0%** | **Specialty Retail**<sup>(b)</sup> **— 0.0%** |
| Advance Auto Parts, Inc., 7.00%, 08/01/30 |  | 53 | &nbsp;&nbsp; 54529 |
| Staples, Inc., 10.75%, 09/01/29 |  | 45 | &nbsp;&nbsp; 44495 |
| &nbsp;&nbsp;&nbsp; Suburban Propane Partners LP/Suburban Energy <br> Finance Corp., 5.00%, 06/01/31<br>|  | 29 | &nbsp;&nbsp; 27593 |
|  |  |  | &nbsp;&nbsp; 126617 |
| **Technology Hardware, Storage & Peripherals**<sup>(b)</sup> **— 0.0%** | **Technology Hardware, Storage & Peripherals**<sup>(b)</sup> **— 0.0%** | **Technology Hardware, Storage & Peripherals**<sup>(b)</sup> **— 0.0%** | **Technology Hardware, Storage & Peripherals**<sup>(b)</sup> **— 0.0%** |
| Seagate Data Storage Technology Pte Ltd. |  |  |  |
| &nbsp;&nbsp;&nbsp; 8.25%, 12/15/29 |  | 54 | &nbsp;&nbsp; 57164 |
| &nbsp;&nbsp;&nbsp; 5.88%, 07/15/30 |  | 76 | &nbsp;&nbsp; 77324 |
| &nbsp;&nbsp;&nbsp; 8.50%, 07/15/31 |  | 76 | &nbsp;&nbsp; 80458 |
|  |  |  | &nbsp;&nbsp; 214946 |
| **Textiles, Apparel & Luxury Goods**<sup>(b)</sup> **— 0.1%** | **Textiles, Apparel & Luxury Goods**<sup>(b)</sup> **— 0.1%** | **Textiles, Apparel & Luxury Goods**<sup>(b)</sup> **— 0.1%** | **Textiles, Apparel & Luxury Goods**<sup>(b)</sup> **— 0.1%** |
| Beach Acquisition Bidco LLC |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.25%, 07/15/32 | EUR | 200 | &nbsp;&nbsp; 240700 |
| &nbsp;&nbsp;&nbsp; (10.00% PIK), 10.00%, 07/15/33<sup>(g)</sup> | USD | 239 | &nbsp;&nbsp; 257800 |
| Crocs, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.25%, 03/15/29 |  | 57 | &nbsp;&nbsp; 54625 |
| &nbsp;&nbsp;&nbsp; 4.13%, 08/15/31 |  | 13 | &nbsp;&nbsp; 11910 |
| Hanesbrands, Inc., 9.00%, 02/15/31 |  | 3 | &nbsp;&nbsp; 3175 |
|  |  |  | &nbsp;&nbsp; 568210 |
| **Wireless Telecommunication Services — 0.2%** | **Wireless Telecommunication Services — 0.2%** | **Wireless Telecommunication Services — 0.2%** | **Wireless Telecommunication Services — 0.2%** |
| Altice France SA<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.13%, 07/15/29 |  | 400 | &nbsp;&nbsp; 341600 |
| &nbsp;&nbsp;&nbsp; 5.50%, 10/15/29 |  | 200 | &nbsp;&nbsp; 172987 |
| &nbsp;&nbsp;&nbsp; Digicel International Finance Ltd./Difl U.S. LLC, 8.63%, <br> 08/01/32<sup>(b)</sup><br>|  | 235 | &nbsp;&nbsp; 241098 |
| T-Mobile USA, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 3.38%, 04/15/29 |  | 67 | &nbsp;&nbsp; 65053 |
| &nbsp;&nbsp;&nbsp; 3.50%, 04/15/31 |  | 26 | &nbsp;&nbsp; 24732 |
| Vmed O2 U.K. Financing I PLC<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 4.25%, 01/31/31 |  | 200 | &nbsp;&nbsp; 185433 |
| &nbsp;&nbsp;&nbsp; 4.75%, 07/15/31 |  | 200 | &nbsp;&nbsp; 188249 |
|  |  |  | &nbsp;&nbsp; 1219152 |
| **Total Corporate Bonds — 19.1%** <br>**(Cost: $125,472,874)** | **Total Corporate Bonds — 19.1%** <br>**(Cost: $125,472,874)** | **Total Corporate Bonds — 19.1%** <br>**(Cost: $125,472,874)** | &nbsp;&nbsp; 118823573 |
| **Fixed Rate Loan Interests** | **Fixed Rate Loan Interests** | **Fixed Rate Loan Interests** | **Fixed Rate Loan Interests** |
| **Distributors — 0.0%** | **Distributors — 0.0%** | **Distributors — 0.0%** | **Distributors — 0.0%** |
| &nbsp;&nbsp;&nbsp; TMK Hawk Parent Corp., 2024 PIK Term Loan, 11.00%, <br> 12/15/31<sup>(d)</sup><br>|  | 64 | &nbsp;&nbsp; — |
| **Diversified Consumer Services — 0.0%** | **Diversified Consumer Services — 0.0%** | **Diversified Consumer Services — 0.0%** | **Diversified Consumer Services — 0.0%** |
| &nbsp;&nbsp;&nbsp; Clover Holdings SPV III LLC, 2024 USD Term Loan, <br> 15.00%, 12/09/27<br>|  | 10 | &nbsp;&nbsp; 9675 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **IT Services — 0.3%** | **IT Services — 0.3%** | **IT Services — 0.3%** | **IT Services — 0.3%** |
| &nbsp;&nbsp;&nbsp; Clover Holdings 2 LLC, Fixed Term Loan B, 7.75%, <br> 12/09/31<br>| USD | 1668 | &nbsp;&nbsp; $1677210 |
| X Corp., 2025 Fixed Term Loan, 9.50%, 10/26/29 |  | 169 | &nbsp;&nbsp; 169399 |
|  |  |  | &nbsp;&nbsp; 1846609 |
| **Software — 0.2%** | **Software — 0.2%** | **Software — 0.2%** | **Software — 0.2%** |
| Cotiviti, Inc., 2024 Fixed Term Loan B, 7.63%, 05/01/31 |  | 1037 | &nbsp;&nbsp; 1040129 |
| **Total Fixed Rate Loan Interests — 0.5%** <br>**(Cost: $2,944,732)** | **Total Fixed Rate Loan Interests — 0.5%** <br>**(Cost: $2,944,732)** | **Total Fixed Rate Loan Interests — 0.5%** <br>**(Cost: $2,944,732)** | &nbsp;&nbsp; 2896413 |
| **Floating Rate Loan Interests**<sup>(a)</sup> | **Floating Rate Loan Interests**<sup>(a)</sup> | **Floating Rate Loan Interests**<sup>(a)</sup> | **Floating Rate Loan Interests**<sup>(a)</sup> |
| **Advertising Agencies — 0.4%** | **Advertising Agencies — 0.4%** | **Advertising Agencies — 0.4%** | **Advertising Agencies — 0.4%** |
| &nbsp;&nbsp;&nbsp; Clear Channel Outdoor Holdings, Inc., 2024 Term Loan, <br> (1-mo. CME Term SOFR at 0.00% Floor + 4.11%), <br> 8.28%, 08/23/28<br>|  | 643 | &nbsp;&nbsp; 643912 |
| &nbsp;&nbsp;&nbsp; Outfront Media Capital LLC, 2025 Term Loan B, <br> 09/24/32<sup>(m)</sup><br>|  | 738 | &nbsp;&nbsp; 737542 |
| &nbsp;&nbsp;&nbsp; Planet U.S. Buyer LLC, 2024 Term Loan B, (3-mo. CME <br> Term SOFR + 3.00%), 7.20%, 02/07/31<br>|  | 695 | &nbsp;&nbsp; 697548 |
| &nbsp;&nbsp;&nbsp; Summer BC Holdco B SARL, 2024 USD Term Loan B, <br> (3-mo. CME Term SOFR at 0.00% Floor + 5.26%), <br> 9.26%, 02/15/29<br>|  | 248 | &nbsp;&nbsp; 243204 |
|  |  |  | &nbsp;&nbsp; 2322206 |
| **Aerospace & Defense — 2.4%** | **Aerospace & Defense — 2.4%** | **Aerospace & Defense — 2.4%** | **Aerospace & Defense — 2.4%** |
| &nbsp;&nbsp;&nbsp; Bleriot U.S. Bidco, Inc., 2023 Term Loan B, (3-mo. CME <br> Term SOFR at 0.00% Floor + 2.50%), 6.50%, <br> 10/31/30<br>|  | 1212 | &nbsp;&nbsp; 1211325 |
| &nbsp;&nbsp;&nbsp; Cobham Ultra SeniorCo SARL, USD Term Loan B, (6-<br> mo. CME Term SOFR + 4.18%), 8.37%, 08/03/29<br>|  | 1108 | &nbsp;&nbsp; 1107768 |
| Dynasty Acquisition Co., Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 1st Lien Term Loan B1, (1-mo. CME Term SOFR <br> at 0.00% Floor + 2.00%), 6.16%, 10/31/31<br>|  | 2302 | &nbsp;&nbsp; 2302146 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 1st Lien Term Loan B2, (1-mo. CME Term SOFR <br> at 0.00% Floor + 2.00%), 6.16%, 10/31/31<br>|  | 875 | &nbsp;&nbsp; 874623 |
| &nbsp;&nbsp;&nbsp; Goat Holdco LLC, 2025 Term Loan B, (1-mo. CME Term <br> SOFR at 0.00% Floor + 2.75%), 6.91%, 01/27/32<br>|  | 550 | &nbsp;&nbsp; 550532 |
| Kaman Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Delayed Draw Term Loan, (3-mo. CME Term <br> SOFR at 0.50% Floor + 2.50%), 6.83%, 02/26/32<br>|  | 5 | &nbsp;&nbsp; 5306 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, (6-mo. CME Term SOFR at 0.50% <br> Floor + 2.75%), 6.67%, 02/26/32<br>|  | 604 | &nbsp;&nbsp; 601587 |
| &nbsp;&nbsp;&nbsp; Propulsion BC Finco SARL, 2025 Term Loan B, (3-mo. <br> CME Term SOFR at 0.50% Floor + 2.75%), 7.04%, <br> 09/14/29<br>|  | 193 | &nbsp;&nbsp; 193631 |
| TransDigm, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 Term Loan J, (3-mo. CME Term SOFR at 0.00% <br> Floor + 2.50%), 6.50%, 02/28/31<br>|  | 4102 | &nbsp;&nbsp; 4099543 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan L, (3-mo. CME Term SOFR at 0.00% <br> Floor + 2.50%), 6.50%, 01/19/32<br>|  | 835 | &nbsp;&nbsp; 833994 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan K, (3-mo. CME Term SOFR at 0.00% <br> Floor + 2.25%), 6.25%, 03/22/30<br>|  | 98 | &nbsp;&nbsp; 97626 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan M, (1-mo. CME Term SOFR at 0.00% <br> Floor + 2.50%), 6.66%, 08/19/32<br>|  | 3005 | &nbsp;&nbsp; 3001154 |
|  |  |  | &nbsp;&nbsp; 14879235 |

---

------

Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Debt Strategies Fund, Inc. (DSU)** 

**(Percentages shown are based on Net Assets)**

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Air Freight & Logistics — 0.4%** | **Air Freight & Logistics — 0.4%** | **Air Freight & Logistics — 0.4%** | **Air Freight & Logistics — 0.4%** |
| &nbsp;&nbsp;&nbsp; Rand Parent LLC, 2025 Term Loan B, (3-mo. CME Term <br> SOFR at 0.00% Floor + 3.00%), 7.00%, 03/18/30<br>| USD | 1769 | &nbsp;&nbsp; $1759422 |
| &nbsp;&nbsp;&nbsp; Stonepeak Nile Parent LLC, 2025 Term Loan B, <br> 04/09/32<sup>(m)</sup><br>|  | 515 | &nbsp;&nbsp; 514356 |
|  |  |  | &nbsp;&nbsp; 2273778 |
| **Automobile Components — 1.0%** | **Automobile Components — 1.0%** | **Automobile Components — 1.0%** | **Automobile Components — 1.0%** |
| Clarios Global LP |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 USD Term Loan B, (1-mo. CME Term SOFR + <br> 2.50%), 6.66%, 05/06/30<br>|  | 2903 | &nbsp;&nbsp; 2900220 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 USD Term Loan B, (1-mo. CME Term SOFR at <br> 0.00% Floor + 2.75%), 6.91%, 01/28/32<br>|  | 1460 | &nbsp;&nbsp; 1459547 |
| &nbsp;&nbsp;&nbsp; Garrett LX I SARL, 2025 USD Term Loan B, (3-mo. CME <br> Term SOFR at 0.50% Floor + 2.00%), 6.31%, <br> 01/30/32<br>|  | 101 | &nbsp;&nbsp; 101236 |
| &nbsp;&nbsp;&nbsp; RealTruck Group, Inc., 2023 Incremental Term Loan, <br> (1-mo. CME Term SOFR + 5.11%), 9.28%, 01/31/28<br>|  | 415 | &nbsp;&nbsp; 385284 |
| &nbsp;&nbsp;&nbsp; Tenneco, Inc., 2022 Term Loan B, (3-mo. CME Term <br> SOFR + 5.10%), 9.30%, 11/17/28<br>|  | 1361 | &nbsp;&nbsp; 1329956 |
|  |  |  | &nbsp;&nbsp; 6176243 |
| **Beverages — 0.6%** | **Beverages — 0.6%** | **Beverages — 0.6%** | **Beverages — 0.6%** |
| Naked Juice LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 FLFO Term Loan, (3-mo. CME Term SOFR at <br> 1.00% Floor + 5.50%), 9.50%, 01/24/29<br>|  | 1510 | &nbsp;&nbsp; 1517407 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 FLSO Term Loan, (3-mo. CME Term SOFR at <br> 0.50% Floor + 3.35%), 7.35%, 01/24/29<br>|  | 829 | &nbsp;&nbsp; 623565 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 FLTO Term Loan, (3-mo. CME Term SOFR at <br> 0.50% Floor + 6.10%), 10.10%, 01/24/30<br>|  | 563 | &nbsp;&nbsp; 228887 |
| &nbsp;&nbsp;&nbsp; Primo Brands Corp., 2025 Term Loan B, (3-mo. CME <br> Term SOFR at 0.50% Floor + 2.25%), 6.25%, <br> 03/31/28<br>|  | 824 | &nbsp;&nbsp; 823435 |
| &nbsp;&nbsp;&nbsp; Sazerac Co., Inc., Term Loan B, (1-mo. CME Term <br> SOFR at 0.00% Floor + 2.50%), 6.70%, 07/09/32<br>|  | 741 | &nbsp;&nbsp; 745120 |
|  |  |  | &nbsp;&nbsp; 3938414 |
| **Building Products — 3.9%** | **Building Products — 3.9%** | **Building Products — 3.9%** | **Building Products — 3.9%** |
| &nbsp;&nbsp;&nbsp; Chariot Buyer LLC, 2025 Term Loan B, (1-mo. CME <br> Term SOFR at 0.00% Floor + 3.00%), 7.16%, <br> 09/08/32<br>|  | 2947 | &nbsp;&nbsp; 2947949 |
| &nbsp;&nbsp;&nbsp; CP Atlas Buyer, Inc., 2025 Term Loan, (1-mo. CME Term <br> SOFR at 0.00% Floor + 5.25%), 9.41%, 07/08/30<br>|  | 1175 | &nbsp;&nbsp; 1148562 |
| &nbsp;&nbsp;&nbsp; CP Iris Holdco I, Inc., 2021 Term Loan, (1-mo. CME Term <br> SOFR + 3.50%), 7.66%, 10/02/28<br>|  | 1471 | &nbsp;&nbsp; 1468912 |
| EMRLD Borrower LP |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, (6-mo. CME Term SOFR at 0.00% <br> Floor + 2.25%), 6.12%, 08/04/31<br>|  | 1793 | &nbsp;&nbsp; 1784658 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, (3-mo. CME Term SOFR at 0.00% Floor <br> + 2.25%), 6.45%, 05/31/30<br>|  | 2813 | &nbsp;&nbsp; 2804009 |
| &nbsp;&nbsp;&nbsp; Foundation Building Materials, Inc., 2024 Term Loan B2, <br> (3-mo. CME Term SOFR at 0.00% Floor + 4.00%), <br> 8.31%, 01/29/31<br>|  | 2148 | &nbsp;&nbsp; 2150402 |
| &nbsp;&nbsp;&nbsp; Gulfside Supply, Inc., Term Loan B, (3-mo. CME Term <br> SOFR at 0.00% Floor + 3.00%), 7.00%, 06/17/31<br>|  | 473 | &nbsp;&nbsp; 473233 |
| &nbsp;&nbsp;&nbsp; New AMI I LLC, 2022 Term Loan B, (1-mo. CME Term <br> SOFR at 0.50% Floor + 6.00%), 10.16%, 03/08/29<br>|  | 431 | &nbsp;&nbsp; 396987 |
| &nbsp;&nbsp;&nbsp; Potters Borrower LP, 2025 Repriced Term Loan B, (1-mo. <br> CME Term SOFR at 0.75% Floor + 3.00%), 7.16%, <br> 12/14/27<br>|  | 464 | &nbsp;&nbsp; 465024 |
| Quikrete Holdings, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B1, (1-mo. CME Term SOFR + <br> 2.25%), 6.41%, 03/19/29<br>|  | 1009 | &nbsp;&nbsp; 1009736 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Building Products (continued)** | **Building Products (continued)** | **Building Products (continued)** | **Building Products (continued)** |
| Quikrete Holdings, Inc. (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, (1-mo. CME Term SOFR at 0.00% <br> Floor + 2.25%), 6.41%, 02/10/32<br>| USD | 2217 | &nbsp;&nbsp; $2215353 |
| &nbsp;&nbsp;&nbsp; QXO, Inc., Term Loan B, (1-mo. CME Term SOFR at <br> 0.00% Floor + 3.00%), 7.16%, 04/30/32<br>|  | 420 | &nbsp;&nbsp; 422897 |
| &nbsp;&nbsp;&nbsp; Standard Industries, Inc., 2021 Term Loan B, (1-mo. <br> CME Term SOFR + 1.75%), 5.89%, 09/22/28<br>|  | 455 | &nbsp;&nbsp; 455652 |
| &nbsp;&nbsp;&nbsp; White Cap Supply Holdings LLC, 2024 Term Loan B, <br> (1-mo. CME Term SOFR at 0.00% Floor + 3.25%), <br> 7.42%, 10/19/29<br>|  | 3471 | &nbsp;&nbsp; 3470189 |
| &nbsp;&nbsp;&nbsp; Wilsonart LLC, 2024 Term Loan B, (3-mo. CME Term <br> SOFR at 0.00% Floor + 4.25%), 8.25%, 08/05/31<br>|  | 2852 | &nbsp;&nbsp; 2751916 |
| &nbsp;&nbsp;&nbsp; Zurn LLC, 2021 Term Loan B, (1-mo. CME Term SOFR + <br> 2.11%), 6.28%, 10/04/28<br>|  | 98 | &nbsp;&nbsp; 98270 |
|  |  |  | &nbsp;&nbsp; 24063749 |
| **Capital Markets — 2.1%** | **Capital Markets — 2.1%** | **Capital Markets — 2.1%** | **Capital Markets — 2.1%** |
| &nbsp;&nbsp;&nbsp; Acuren Delaware Holdco, Inc., 2025 Term Loan, (1-mo. <br> CME Term SOFR at 0.00% Floor + 2.75%), 6.91%, <br> 07/30/31<br>|  | 391 | &nbsp;&nbsp; 391308 |
| &nbsp;&nbsp;&nbsp; Allspring Buyer LLC, 2024 Term Loan B, (3-mo. CME <br> Term SOFR at 0.00% Floor + 2.75%), 6.81%, <br> 11/01/30<br>|  | 607 | &nbsp;&nbsp; 608100 |
| &nbsp;&nbsp;&nbsp; AqGen Island Holdings, Inc., 2024 Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 3.00%), 7.16%, <br> 08/02/28<br>|  | 1897 | &nbsp;&nbsp; 1893772 |
| &nbsp;&nbsp;&nbsp; Aretec Group, Inc., 2024 1st Lien Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 3.50%), 7.66%, <br> 08/09/30<br>|  | 541 | &nbsp;&nbsp; 540495 |
| &nbsp;&nbsp;&nbsp; Citadel Securities LP, 2024 First Lien Term Loan, (1-mo. <br> CME Term SOFR at 0.00% Floor + 2.00%), 6.16%, <br> 10/31/31<br>|  | 1340 | &nbsp;&nbsp; 1342112 |
| &nbsp;&nbsp;&nbsp; Edelman Financial Engines Center LLC, 2024 Term <br> Loan, (1-mo. CME Term SOFR at 0.00% Floor + <br> 3.00%), 7.16%, 04/07/28<br>|  | 1244 | &nbsp;&nbsp; 1244898 |
| &nbsp;&nbsp;&nbsp; Focus Financial Partners LLC, 2025 Incremental Term <br> Loan B, (1-mo. CME Term SOFR at 0.00% Floor + <br> 2.75%), 6.91%, 09/15/31<br>|  | 1725 | &nbsp;&nbsp; 1725461 |
| &nbsp;&nbsp;&nbsp; Gryphon Acquire NewCo LLC, Term Loan B, (6-mo. CME <br> Term SOFR at 0.00% Floor + 3.00%), 6.88%, <br> 09/13/32<br>|  | 727 | &nbsp;&nbsp; 728592 |
| &nbsp;&nbsp;&nbsp; GTCR Everest Borrower LLC, Add on Term Loan B, (3-<br> mo. CME Term SOFR at 0.00% Floor + 2.75%), <br> 6.75%, 09/05/31<br>|  | 469 | &nbsp;&nbsp; 468787 |
| &nbsp;&nbsp;&nbsp; Guardian U.S. Holdco LLC, 2023 Term Loan B, (3-mo. <br> CME Term SOFR at 0.50% Floor + 3.50%), 7.50%, <br> 01/31/30<br>|  | 288 | &nbsp;&nbsp; 287481 |
| &nbsp;&nbsp;&nbsp; Jane Street Group LLC, 2024 Term Loan B1, (3-mo. <br> CME Term SOFR at 0.00% Floor + 2.00%), 6.20%, <br> 12/15/31<br>|  | 1967 | &nbsp;&nbsp; 1950917 |
| &nbsp;&nbsp;&nbsp; Osaic Holdings, Inc., 2025 Term Loan, (1-mo. CME Term <br> SOFR at 0.00% Floor + 3.00%), 7.16%, 07/30/32<br>|  | 1837 | &nbsp;&nbsp; 1835641 |
| &nbsp;&nbsp;&nbsp; Summit Acquisition, Inc., 2025 Add-on Term Loan, (1-mo. <br> CME Term SOFR at 0.00% Floor + 3.50%), 7.66%, <br> 10/16/31<br>|  | 108 | &nbsp;&nbsp; 108315 |
|  |  |  | &nbsp;&nbsp; 13125879 |
| **Chemicals — 3.8%** | **Chemicals — 3.8%** | **Chemicals — 3.8%** | **Chemicals — 3.8%** |
| &nbsp;&nbsp;&nbsp; Axalta Coating Systems U.S. Holdings, Inc., 2024 Term <br> Loan B7, (3-mo. CME Term SOFR at 0.50% Floor + <br> 1.75%), 5.75%, 12/20/29<br>|  | 1058 | &nbsp;&nbsp; 1061064 |
| &nbsp;&nbsp;&nbsp; Chemours Co., 2023 USD Term Loan B, (1-mo. CME <br> Term SOFR + 3.00%), 7.16%, 08/18/28<br>|  | 608 | &nbsp;&nbsp; 606746 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Debt Strategies Fund, Inc. (DSU)** 

**(Percentages shown are based on Net Assets)**

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Chemicals (continued)** | **Chemicals (continued)** | **Chemicals (continued)** | **Chemicals (continued)** |
| &nbsp;&nbsp;&nbsp; Derby Buyer LLC, 2024 Repriced Term Loan B, (1-mo. <br> CME Term SOFR at 0.50% Floor + 3.00%), 7.18%, <br> 11/01/30<br>| USD | 1661 | &nbsp;&nbsp; $1662755 |
| &nbsp;&nbsp;&nbsp; Discovery Purchaser Corp., Term Loan, (3-mo. CME <br> Term SOFR at 0.50% Floor + 3.75%), 8.08%, <br> 10/04/29<br>|  | 325 | &nbsp;&nbsp; 322976 |
| &nbsp;&nbsp;&nbsp; Ecovyst Catalyst Technologies LLC, 2024 Term Loan B, <br> (3-mo. CME Term SOFR at 0.00% Floor + 2.00%), <br> 6.31%, 06/12/31<br>|  | 1360 | &nbsp;&nbsp; 1357817 |
| &nbsp;&nbsp;&nbsp; Element Solutions, Inc., 2023 Term Loan B, (1-mo. CME <br> Term SOFR + 1.75%), 5.91%, 12/18/30<br>|  | 1381 | &nbsp;&nbsp; 1388065 |
| &nbsp;&nbsp;&nbsp; Fortis 333, Inc., USD Term Loan B, (3-mo. CME Term <br> SOFR at 0.00% Floor + 3.50%), 7.50%, 03/29/32<br>|  | 509 | &nbsp;&nbsp; 505332 |
| &nbsp;&nbsp;&nbsp; HB Fuller Co., 2025 Term Loan B, (1-mo. CME Term <br> SOFR at 0.50% Floor + 1.75%), 5.91%, 02/15/30<br>|  | 259 | &nbsp;&nbsp; 259893 |
| &nbsp;&nbsp;&nbsp; INEOS U.S. Finance LLC, 2023 USD Term Loan B, (1-<br> mo. CME Term SOFR at 0.00% Floor + 3.25%), <br> 7.41%, 02/18/30<br>|  | 604 | &nbsp;&nbsp; 545366 |
| &nbsp;&nbsp;&nbsp; INEOS U.S. Petrochem LLC, 2024 USD Term Loan B, <br> (1-mo. CME Term SOFR at 0.00% Floor + 4.25%), <br> 8.41%, 10/07/31<br>|  | 523 | &nbsp;&nbsp; 448355 |
| &nbsp;&nbsp;&nbsp; Lonza Group AG, USD Term Loan B, (3-mo. CME Term <br> SOFR at 0.75% Floor + 4.03%), 8.03%, 07/03/28<br>|  | 1215 | &nbsp;&nbsp; 1093663 |
| &nbsp;&nbsp;&nbsp; Minerals Technologies, Inc., 2024 Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 2.00%), 6.16%, <br> 11/26/31<sup>(d)</sup><br>|  | 862 | &nbsp;&nbsp; 862483 |
| &nbsp;&nbsp;&nbsp; Momentive Performance Materials, Inc., 2023 Term <br> Loan, (1-mo. CME Term SOFR + 4.00%), 8.16%, <br> 03/29/28<br>|  | 1275 | &nbsp;&nbsp; 1278459 |
| &nbsp;&nbsp;&nbsp; Nouryon Finance BV, 2024 USD Term Loan B1, (1-mo. <br> CME Term SOFR at 0.00% Floor + 3.25%), 7.50%, <br> 04/03/28<br>|  | 1093 | &nbsp;&nbsp; 1094235 |
| Olympus Water U.S. Holding Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 USD Term Loan, (3-mo. CME Term SOFR at <br> 0.50% Floor + 3.00%), 7.00%, 06/20/31<br>|  | 1946 | &nbsp;&nbsp; 1924612 |
| &nbsp;&nbsp;&nbsp; 2025 USD Term Loan B, 07/23/32<sup>(m)</sup> |  | 1551 | &nbsp;&nbsp; 1538266 |
| &nbsp;&nbsp;&nbsp; Oxea Holding Drei GmbH, 2017 USD Term Loan B2, <br> (3-mo. CME Term SOFR at 0.00% Floor + 4.35%), <br> 8.64%, 04/08/31<br>|  | 1444 | &nbsp;&nbsp; 1325863 |
| &nbsp;&nbsp;&nbsp; Paint Intermediate III LLC, 2024 Term Loan B, (3-mo. <br> CME Term SOFR at 0.00% Floor + 3.00%), 7.24%, <br> 10/09/31<br>|  | 505 | &nbsp;&nbsp; 503473 |
| Qnity Electronics, Inc., Term Loan B, 08/12/32<sup>(m)</sup> |  | 1717 | &nbsp;&nbsp; 1714854 |
| &nbsp;&nbsp;&nbsp; Solstice Advanced Materials, Inc., Term Loan B, <br> 09/17/32<sup>(m)</sup><br>|  | 841 | &nbsp;&nbsp; 841530 |
| &nbsp;&nbsp;&nbsp; Sparta U.S. HoldCo LLC, 2024 Term Loan B, (1-mo. <br> CME Term SOFR at 0.75% Floor + 3.00%), 7.28%, <br> 08/02/30<br>|  | 1810 | &nbsp;&nbsp; 1784051 |
| &nbsp;&nbsp;&nbsp; WR Grace Holdings LLC, 2025 Term Loan B, (3-mo. <br> CME Term SOFR at 0.50% Floor + 3.00%), 7.00%, <br> 08/19/32<br>|  | 1227 | &nbsp;&nbsp; 1229049 |
|  |  |  | &nbsp;&nbsp; 23348907 |
| **Commercial Services & Supplies — 4.9%** | **Commercial Services & Supplies — 4.9%** | **Commercial Services & Supplies — 4.9%** | **Commercial Services & Supplies — 4.9%** |
| &nbsp;&nbsp;&nbsp; Aggreko Holdings, Inc., 2025 USD Term Loan, (3-mo. <br> CME Term SOFR at 0.50% Floor + 3.00%), 7.21%, <br> 05/21/31<br>|  | 1737 | &nbsp;&nbsp; 1740689 |
| &nbsp;&nbsp;&nbsp; AlixPartners LLP, 2025 USD Term Loan, (1-mo. CME <br> Term SOFR at 0.00% Floor + 2.00%), 6.16%, <br> 08/12/32<br>|  | 2552 | &nbsp;&nbsp; 2533450 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Commercial Services & Supplies (continued)** | **Commercial Services & Supplies (continued)** | **Commercial Services & Supplies (continued)** | **Commercial Services & Supplies (continued)** |
| &nbsp;&nbsp;&nbsp; Allied Universal Holdco LLC, 2025 USD Term Loan B, <br> (1-mo. CME Term SOFR at 0.00% Floor + 3.35%), <br> 7.51%, 08/20/32<br>| USD | 4174 | &nbsp;&nbsp; $4186952 |
| &nbsp;&nbsp;&nbsp; Belron Finance LLC, 2025 Repriced Term Loan B, (3-mo. <br> CME Term SOFR at 0.50% Floor + 2.50%), 6.74%, <br> 10/16/31<br>|  | 3137 | &nbsp;&nbsp; 3151169 |
| &nbsp;&nbsp;&nbsp; Bright Horizons Family Solutions LLC, 2025 Term Loan <br> B, (1-mo. CME Term SOFR at 0.50% Floor + 1.75%), <br> 5.91%, 08/23/32<br>|  | 1139 | &nbsp;&nbsp; 1142988 |
| &nbsp;&nbsp;&nbsp; Champions Financing, Inc., 2024 Term Loan B, (3-mo. <br> CME Term SOFR at 0.00% Floor + 4.75%), 8.95%, <br> 02/23/29<br>|  | 156 | &nbsp;&nbsp; 145417 |
| &nbsp;&nbsp;&nbsp; CHG Healthcare Services, Inc., 2025 Term Loan B1, <br> (3-mo. CME Term SOFR at 0.50% Floor + 2.75%), <br> 7.05%, 09/29/28<br>|  | 874 | &nbsp;&nbsp; 873846 |
| &nbsp;&nbsp;&nbsp; Creative Artists Agency LLC, 2025 Repriced Term Loan <br> B, (1-mo. CME Term SOFR at 0.00% Floor + 2.50%), <br> 6.66%, 10/01/31<br>|  | 2981 | &nbsp;&nbsp; 2984104 |
| &nbsp;&nbsp;&nbsp; Ensemble RCM LLC, 2024 Term Loan B, (3-mo. CME <br> Term SOFR at 0.00% Floor + 3.00%), 7.31%, <br> 08/01/29<br>|  | 1393 | &nbsp;&nbsp; 1396363 |
| &nbsp;&nbsp;&nbsp; Galaxy U.S. Opco, Inc., Term Loan, (3-mo. CME Term <br> SOFR + 2.00%), 10.06%, 07/31/30<br>|  | 435 | &nbsp;&nbsp; 393822 |
| &nbsp;&nbsp;&nbsp; Garda World Security Corp., 2025 Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 3.00%), 7.17%, <br> 02/01/29<br>|  | 1882 | &nbsp;&nbsp; 1881659 |
| &nbsp;&nbsp;&nbsp; Grant Thornton Advisors LLC, 2025 Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 2.50%), 6.66%, <br> 06/02/31<br>|  | 566 | &nbsp;&nbsp; 562060 |
| &nbsp;&nbsp;&nbsp; Herc Holdings, Inc., Term Loan B, (1-mo. CME Term <br> SOFR at 0.00% Floor + 2.00%), 6.25%, 06/02/32<br>|  | 277 | &nbsp;&nbsp; 278039 |
| Hertz Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan B, (3-mo. CME Term SOFR + <br> 3.76%), 8.07%, 06/30/28<br>|  | 1010 | &nbsp;&nbsp; 904816 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan C, (3-mo. CME Term SOFR + <br> 3.76%), 8.07%, 06/30/28<br>|  | 199 | &nbsp;&nbsp; 178092 |
| &nbsp;&nbsp;&nbsp; Ingenovis Health, Inc., Term Loan B, (3-mo. CME Term <br> SOFR + 4.51%), 8.71%, 03/06/28<br>|  | 689 | &nbsp;&nbsp; 213729 |
| &nbsp;&nbsp;&nbsp; KUEHG Corp., 2025 Term Loan, (3-mo. CME Term <br> SOFR at 0.50% Floor + 2.75%), 6.75%, 06/12/30<br>|  | 496 | &nbsp;&nbsp; 495144 |
| &nbsp;&nbsp;&nbsp; Learning Care Group U.S. No. 2, Inc., 2024 Term Loan <br> B, (3-mo. CME Term SOFR + 4.00%), 8.29%, <br> 08/11/28<sup>(d)</sup><br>|  | 195 | &nbsp;&nbsp; 191134 |
| &nbsp;&nbsp;&nbsp; Mavis Tire Express Services Topco Corp., 2025 Repriced <br> Term Loan, (3-mo. CME Term SOFR at 0.75% Floor + <br> 3.00%), 7.20%, 05/04/28<br>|  | 2960 | &nbsp;&nbsp; 2958731 |
| Prime Security Services Borrower LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 1st Lien Term Loan B, (6-mo. CME Term SOFR <br> at 0.00% Floor + 2.00%), 6.13%, 10/13/30<br>|  | 869 | &nbsp;&nbsp; 866531 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Incremental Term Loan B, (1-mo. CME Term <br> SOFR at 0.00% Floor + 1.75%), 6.00%, 03/07/32<br>|  | 1220 | &nbsp;&nbsp; 1207790 |
| &nbsp;&nbsp;&nbsp; Ryan LLC, Term Loan, (1-mo. CME Term SOFR at <br> 0.50% Floor + 3.50%), 7.66%, 11/14/30<br>|  | 74 | &nbsp;&nbsp; 73967 |

---

------

Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Debt Strategies Fund, Inc. (DSU)** 

**(Percentages shown are based on Net Assets)**

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Commercial Services & Supplies (continued)** | **Commercial Services & Supplies (continued)** | **Commercial Services & Supplies (continued)** | **Commercial Services & Supplies (continued)** |
| &nbsp;&nbsp;&nbsp; Vortex Opco LLC, Second Out Term Loan, (3-mo. CME <br> Term SOFR at 0.50% Floor + 4.36%), 8.37%, <br> 12/17/28<br>| USD | 572 | &nbsp;&nbsp; $125773 |
| &nbsp;&nbsp;&nbsp; Wand NewCo 3, Inc., 2025 Repriced Term Loan B, (1-<br> mo. CME Term SOFR at 0.00% Floor + 2.50%), <br> 6.66%, 01/30/31<br>|  | 1852 | &nbsp;&nbsp; 1844325 |
|  |  |  | &nbsp;&nbsp; 30330590 |
| **Communications Equipment — 0.3%** | **Communications Equipment — 0.3%** | **Communications Equipment — 0.3%** | **Communications Equipment — 0.3%** |
| &nbsp;&nbsp;&nbsp; Ciena Corp., 2025 Repriced Term Loan B, (1-mo. CME <br> Term SOFR at 0.00% Floor + 1.75%), 5.89%, <br> 10/24/30<br>|  | 1233 | &nbsp;&nbsp; 1233953 |
| &nbsp;&nbsp;&nbsp; ORBCOMM, Inc., Term Loan B, (1-mo. CME Term SOFR <br> at 0.75% Floor + 4.51%), 8.62%, 09/01/28<br>|  | 505 | &nbsp;&nbsp; 453752 |
|  |  |  | &nbsp;&nbsp; 1687705 |
| **Construction & Engineering — 1.6%** | **Construction & Engineering — 1.6%** | **Construction & Engineering — 1.6%** | **Construction & Engineering — 1.6%** |
| &nbsp;&nbsp;&nbsp; Apple Bidco LLC, 2025 Term Loan, (1-mo. CME Term <br> SOFR at 0.00% Floor + 2.50%), 6.66%, 09/23/31<br>|  | 2839 | &nbsp;&nbsp; 2838042 |
| &nbsp;&nbsp;&nbsp; Brand Industrial Services, Inc., 2024 Term Loan B, (3-<br> mo. CME Term SOFR at 0.50% Floor + 4.50%), <br> 8.80%, 08/01/30<br>|  | 2501 | &nbsp;&nbsp; 2260918 |
| Brown Group Holding LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 Incremental Term Loan B2, (1-mo. CME Term <br> SOFR at 0.50% Floor + 2.75%), 7.01%, 07/01/31<br>|  | 1252 | &nbsp;&nbsp; 1253729 |
| &nbsp;&nbsp;&nbsp; Term Loan B, 07/01/31<sup>(m)</sup> |  | 1225 | &nbsp;&nbsp; 1225514 |
| &nbsp;&nbsp;&nbsp; Construction Partners, Inc., Term Loan B, (1-mo. CME <br> Term SOFR at 0.00% Floor + 2.50%), 6.66%, <br> 11/03/31<br>|  | 373 | &nbsp;&nbsp; 373997 |
| &nbsp;&nbsp;&nbsp; Cube Industrials Buyer, Inc., 2024 Term Loan, (3-mo. <br> CME Term SOFR at 0.00% Floor + 3.25%), 7.58%, <br> 10/17/31<br>|  | 193 | &nbsp;&nbsp; 193513 |
| &nbsp;&nbsp;&nbsp; Legence Holdings LLC, 2025 Term Loan B, (1-mo. CME <br> Term SOFR at 0.75% Floor + 3.00%), 7.16%, <br> 12/18/28<br>|  | 257 | &nbsp;&nbsp; 257561 |
| &nbsp;&nbsp;&nbsp; SBA Senior Finance II LLC, 2024 Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 1.75%), 5.92%, <br> 01/25/31<br>|  | 1349 | &nbsp;&nbsp; 1352919 |
|  |  |  | &nbsp;&nbsp; 9756193 |
| **Consumer Discretionary — 1.0%** | **Consumer Discretionary — 1.0%** | **Consumer Discretionary — 1.0%** | **Consumer Discretionary — 1.0%** |
| &nbsp;&nbsp;&nbsp; APi Group DE, Inc., 2025 Term Loan, (1-mo. CME Term <br> SOFR at 0.00% Floor + 1.75%), 5.91%, 01/03/29<br>|  | 2407 | &nbsp;&nbsp; 2404936 |
| &nbsp;&nbsp;&nbsp; Camelot U.S. Acquisition LLC, 2024 Term Loan B, (1-mo. <br> CME Term SOFR + 2.75%), 6.91%, 01/31/31<br>|  | 823 | &nbsp;&nbsp; 817773 |
| &nbsp;&nbsp;&nbsp; Element Materials Technology Group U.S. Holdings, Inc., <br> 2022 USD Term Loan, (3-mo. CME Term SOFR at <br> 0.50% Floor + 3.68%), 7.68%, 07/06/29<br>|  | 447 | &nbsp;&nbsp; 448910 |
| &nbsp;&nbsp;&nbsp; Fleet U.S. Bidco, Inc., 2024 1st Lien Term Loan B, (6-mo. <br> CME Term SOFR at 0.00% Floor + 2.50%), 6.54%, <br> 02/21/31<sup>(d)</sup><br>|  | 356 | &nbsp;&nbsp; 356307 |
| &nbsp;&nbsp;&nbsp; OMNIA Partners LLC, 2024 Term Loan B, (3-mo. CME <br> Term SOFR at 0.00% Floor + 2.50%), 6.81%, <br> 07/25/30<br>|  | 589 | &nbsp;&nbsp; 588956 |
| &nbsp;&nbsp;&nbsp; PG Polaris BidCo SARL, Term Loan B, (1-mo. CME Term <br> SOFR at 0.00% Floor + 2.75%), 6.91%, 03/26/31<br>|  | 544 | &nbsp;&nbsp; 544978 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Consumer Discretionary (continued)** | **Consumer Discretionary (continued)** | **Consumer Discretionary (continued)** | **Consumer Discretionary (continued)** |
| &nbsp;&nbsp;&nbsp; Raven Acquisition Holdings LLC, Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 3.00%), 7.16%, <br> 11/19/31<br>| USD | 508 | &nbsp;&nbsp; $507903 |
| &nbsp;&nbsp;&nbsp; TruGreen LP, 2020 Term Loan, (1-mo. CME Term SOFR <br> + 4.10%), 8.26%, 11/02/27<br>|  | 250 | &nbsp;&nbsp; 244708 |
|  |  |  | &nbsp;&nbsp; 5914471 |
| **Consumer Finance — 1.9%** | **Consumer Finance — 1.9%** | **Consumer Finance — 1.9%** | **Consumer Finance — 1.9%** |
| &nbsp;&nbsp;&nbsp; Boost Newco Borrower LLC, 2025 USD Term Loan B2, <br> (3-mo. CME Term SOFR at 0.00% Floor + 2.00%), <br> 6.00%, 01/31/31<br>|  | 3442 | &nbsp;&nbsp; 3443457 |
| &nbsp;&nbsp;&nbsp; Citrin Cooperman Advisors LLC, 2025 Term Loan B, <br> (3-mo. CME Term SOFR at 0.00% Floor + 3.00%), <br> 7.00%, 04/01/32<br>|  | 736 | &nbsp;&nbsp; 732255 |
| &nbsp;&nbsp;&nbsp; Corpay Technologies Operating Co. LLC, Term Loan B5, <br> (1-mo. CME Term SOFR at 0.00% Floor + 1.75%), <br> 5.91%, 04/28/28<br>|  | 2529 | &nbsp;&nbsp; 2523957 |
| &nbsp;&nbsp;&nbsp; Shift4 Payments LLC, 2025 Term Loan, (3-mo. CME <br> Term SOFR at 0.00% Floor + 2.50%), 6.50%, <br> 06/30/32<br>|  | 674 | &nbsp;&nbsp; 678772 |
| Trans Union LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B8, (1-mo. CME Term SOFR at <br> 0.00% Floor + 1.75%), 5.91%, 06/24/31<br>|  | 1873 | &nbsp;&nbsp; 1871199 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B9, (1-mo. CME Term SOFR at <br> 0.50% Floor + 1.75%), 5.91%, 06/24/31<br>|  | 1589 | &nbsp;&nbsp; 1587389 |
| WEX, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B2, (1-mo. CME Term SOFR at <br> 0.00% Floor + 1.75%), 5.91%, 03/31/28<br>|  | 322 | &nbsp;&nbsp; 322037 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Incremental Term Loan B, (1-mo. CME Term <br> SOFR at 0.00% Floor + 1.75%), 5.91%, 03/05/32<br>|  | 423 | &nbsp;&nbsp; 420892 |
|  |  |  | &nbsp;&nbsp; 11579958 |
| **Consumer Staples Distribution & Retail — 0.3%** | **Consumer Staples Distribution & Retail — 0.3%** | **Consumer Staples Distribution & Retail — 0.3%** | **Consumer Staples Distribution & Retail — 0.3%** |
| &nbsp;&nbsp;&nbsp; Boots Group Finco LP, USD Term Loan, (3-mo. CME <br> Term SOFR at 0.00% Floor + 3.50%), 7.70%, <br> 08/30/32<br>|  | 1157 | &nbsp;&nbsp; 1159407 |
| &nbsp;&nbsp;&nbsp; U.S. Foods, Inc., 2024 1st Lien Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 1.75%), 5.91%, <br> 10/03/31<br>|  | 619 | &nbsp;&nbsp; 622856 |
|  |  |  | &nbsp;&nbsp; 1782263 |
| **Containers & Packaging — 2.0%** | **Containers & Packaging — 2.0%** | **Containers & Packaging — 2.0%** | **Containers & Packaging — 2.0%** |
| &nbsp;&nbsp;&nbsp; Asplundh Tree Expert LLC, 2021 Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 1.85%), 6.01%, <br> 09/07/27<br>|  | 1819 | &nbsp;&nbsp; 1817790 |
| &nbsp;&nbsp;&nbsp; Charter Next Generation, Inc., 2024 Term Loan B1, (1-<br> mo. CME Term SOFR at 0.75% Floor + 2.75%), <br> 6.93%, 11/29/30<br>|  | 3418 | &nbsp;&nbsp; 3427215 |
| Clydesdale Acquisition Holdings, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Delayed Draw Term Loan, (1-mo. CME Term <br> SOFR at 0.00% Floor + 3.25%), 7.41%, 04/01/32<br>|  | 1 | &nbsp;&nbsp; 763 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, (1-mo. CME Term SOFR at 0.00% <br> Floor + 3.25%), 7.41%, 04/01/32<br>|  | 1454 | &nbsp;&nbsp; 1451240 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, (1-mo. CME Term SOFR + 3.18%), <br> 7.34%, 04/13/29<br>|  | 190 | &nbsp;&nbsp; 189679 |
| &nbsp;&nbsp;&nbsp; LABL, Inc., 2021 USD 1st Lien Term Loan, (1-mo. CME <br> Term SOFR at 0.50% Floor + 5.10%), 9.26%, <br> 10/30/28<br>|  | 1634 | &nbsp;&nbsp; 1336053 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Debt Strategies Fund, Inc. (DSU)** 

**(Percentages shown are based on Net Assets)**

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Containers & Packaging (continued)** | **Containers & Packaging (continued)** | **Containers & Packaging (continued)** | **Containers & Packaging (continued)** |
| &nbsp;&nbsp;&nbsp; Mauser Packaging Solutions Holding Co., 2024 Term <br> Loan B, (1-mo. CME Term SOFR + 3.00%), 7.28%, <br> 04/15/27<br>| USD | 938 | &nbsp;&nbsp; $937870 |
| &nbsp;&nbsp;&nbsp; Pregis TopCo Corp., 2025 Refinancing Term Loan, (1-<br> mo. CME Term SOFR at 0.00% Floor + 4.00%), <br> 8.16%, 02/01/29<br>|  | 1471 | &nbsp;&nbsp; 1480556 |
| &nbsp;&nbsp;&nbsp; Proampac PG Borrower LLC, 2024 Term Loan, (3-mo. <br> CME Term SOFR + 4.00%), 8.26%, 09/15/28<br>|  | 179 | &nbsp;&nbsp; 178949 |
| &nbsp;&nbsp;&nbsp; Ring Container Technologies Group LLC, 2025 Term <br> Loan B, (1-mo. CME Term SOFR at 0.50% Floor + <br> 2.50%), 6.66%, 09/15/32<br>|  | 520 | &nbsp;&nbsp; 518960 |
| &nbsp;&nbsp;&nbsp; Trident TPI Holdings, Inc., 2024 Term Loan B7, (3-mo. <br> CME Term SOFR at 0.50% Floor + 3.75%), 7.75%, <br> 09/15/28<br>|  | 1115 | &nbsp;&nbsp; 1093983 |
|  |  |  | &nbsp;&nbsp; 12433058 |
| **Distributors — 1.6%** | **Distributors — 1.6%** | **Distributors — 1.6%** | **Distributors — 1.6%** |
| &nbsp;&nbsp;&nbsp; American Builders & Contractors Supply Co., Inc., <br> 2024 Term Loan B, (1-mo. CME Term SOFR at 0.00% <br> Floor + 1.75%), 5.91%, 01/31/31<br>|  | 1433 | &nbsp;&nbsp; 1435803 |
| Core & Main LP |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan D, (1-mo. CME Term SOFR at 0.00% <br> Floor + 2.00%), 6.17%, 07/27/28<br>|  | 2981 | &nbsp;&nbsp; 2979639 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan E, (1-mo. CME Term SOFR at 0.00% <br> Floor + 2.00%), 6.17%, 02/09/31<br>|  | 695 | &nbsp;&nbsp; 693280 |
| &nbsp;&nbsp;&nbsp; Dealer Tire Financial LLC, 2024 1st Lien Term Loan B, <br> (1-mo. CME Term SOFR at 0.00% Floor + 3.00%), <br> 7.16%, 07/02/31<br>|  | 1170 | &nbsp;&nbsp; 1162710 |
| &nbsp;&nbsp;&nbsp; Gates Corp./DE, 2024 Term Loan B5, (1-mo. CME Term <br> SOFR + 1.75%), 5.91%, 06/04/31<br>|  | 1756 | &nbsp;&nbsp; 1752269 |
| &nbsp;&nbsp;&nbsp; PAI Holdco, Inc., 2020 Term Loan B, (3-mo. CME Term <br> SOFR + 4.01%), 8.32%, 10/28/27<br>|  | 363 | &nbsp;&nbsp; 302397 |
| &nbsp;&nbsp;&nbsp; Resideo Funding, Inc., 2025 Incremental Term Loan, <br> (3-mo. CME Term SOFR at 0.00% Floor + 2.00%), <br> 6.04%, 08/13/32<br>|  | 1016 | &nbsp;&nbsp; 1015370 |
| &nbsp;&nbsp;&nbsp; TMK Hawk Parent Corp., 2024 Term Loan B, (1-mo. <br> CME Term SOFR at 1.00% Floor + 2.00%, 3.25% <br> PIK), 9.41%, 06/30/29<sup>(g)</sup><br>|  | 1930 | &nbsp;&nbsp; 680311 |
|  |  |  | &nbsp;&nbsp; 10021779 |
| **Diversified Consumer Services — 0.1%** | **Diversified Consumer Services — 0.1%** | **Diversified Consumer Services — 0.1%** | **Diversified Consumer Services — 0.1%** |
| &nbsp;&nbsp;&nbsp; Anticimex International AB, 2024 Term Loan B6, (3-mo. <br> SOFR + 3.40%), 7.76%, 11/16/28<br>|  | 607 | &nbsp;&nbsp; 607838 |
| **Diversified Telecommunication Services — 1.8%** | **Diversified Telecommunication Services — 1.8%** | **Diversified Telecommunication Services — 1.8%** | **Diversified Telecommunication Services — 1.8%** |
| &nbsp;&nbsp;&nbsp; Altice Financing SA, USD 2017 1st Lien Term Loan, <br> (Prime + 1.75%), 9.00%, 01/31/26<sup>(d)</sup><br>|  | 1673 | &nbsp;&nbsp; 1605905 |
| &nbsp;&nbsp;&nbsp; Iridium Satellite LLC, 2024 Term Loan B, (1-mo. CME <br> Term SOFR at 0.75% Floor + 2.25%), 6.41%, <br> 09/20/30<br>|  | 572 | &nbsp;&nbsp; 540807 |
| &nbsp;&nbsp;&nbsp; Level 3 Financing, Inc., 2025 Term Loan B, (1-mo. CME <br> Term SOFR at 0.00% Floor + 3.25%), 7.42%, <br> 03/27/32<br>|  | 2873 | &nbsp;&nbsp; 2873000 |
| Lumen Technologies, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Extended Term Loan B1, (1-mo. CME Term <br> SOFR at 2.00% Floor + 2.46%), 6.63%, 04/16/29<br>|  | 1061 | &nbsp;&nbsp; 1053110 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Extended Term Loan B2, (1-mo. CME Term <br> SOFR at 2.00% Floor + 2.46%), 6.63%, 04/15/30<br>|  | 1240 | &nbsp;&nbsp; 1230926 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Diversified Telecommunication Services (continued)** | **Diversified Telecommunication Services (continued)** | **Diversified Telecommunication Services (continued)** | **Diversified Telecommunication Services (continued)** |
| Lumen Technologies, Inc. (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan A, (1-mo. CME Term SOFR + <br> 6.00%), 10.16%, 06/01/28<br>| USD | 121 | &nbsp;&nbsp; $122547 |
| &nbsp;&nbsp;&nbsp; Zayo Group Holdings, Inc., 1st Lien Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 3.50%), 7.61%, <br> 03/11/30<br>|  | 3973 | &nbsp;&nbsp; 3908264 |
|  |  |  | &nbsp;&nbsp; 11334559 |
| **Electric Utilities — 0.6%** | **Electric Utilities — 0.6%** | **Electric Utilities — 0.6%** | **Electric Utilities — 0.6%** |
| &nbsp;&nbsp;&nbsp; Constellation Renewables LLC, 2020 Term Loan, (3-mo. <br> CME Term SOFR at 1.00% Floor + 2.25%), 6.45%, <br> 12/15/27<br>|  | 957 | &nbsp;&nbsp; 954705 |
| &nbsp;&nbsp;&nbsp; Pike Corp., 2021 Incremental Term Loan B, (1-mo. CME <br> Term SOFR + 3.11%), 7.28%, 01/21/28<br>|  | 921 | &nbsp;&nbsp; 925581 |
| &nbsp;&nbsp;&nbsp; Talen Energy Supply LLC, 2024-1 Incremental Term <br> Loan, (3-mo. CME Term SOFR at 0.00% Floor + <br> 2.50%), 6.73%, 12/15/31<br>|  | 607 | &nbsp;&nbsp; 607538 |
| &nbsp;&nbsp;&nbsp; Vistra Operations Co. LLC, 1st Lien Term Loan B3, (1-<br> mo. CME Term SOFR + 1.75%), 5.91%, 12/20/30<br>|  | 1282 | &nbsp;&nbsp; 1282460 |
|  |  |  | &nbsp;&nbsp; 3770284 |
| **Electronic Equipment, Instruments & Components — 0.7%** | **Electronic Equipment, Instruments & Components — 0.7%** | **Electronic Equipment, Instruments & Components — 0.7%** | **Electronic Equipment, Instruments & Components — 0.7%** |
| &nbsp;&nbsp;&nbsp; Celestica, Inc., 2024 Term Loan B, (1-mo. CME Term <br> SOFR at 0.00% Floor + 1.75%), 5.92%, 06/20/31<sup>(d)</sup><br>|  | 831 | &nbsp;&nbsp; 835632 |
| &nbsp;&nbsp;&nbsp; Coherent Corp., 2025 1st Lien Term Loan B2, (1-mo. <br> CME Term SOFR at 0.50% Floor + 1.75%), 5.94%, <br> 07/02/29<br>|  | 783 | &nbsp;&nbsp; 781408 |
| &nbsp;&nbsp;&nbsp; Lsf12 Crown U.S. Commercial Bidco LLC, 2025 Term <br> Loan B, 12/02/31<sup>(m)</sup><br>|  | 657 | &nbsp;&nbsp; 657414 |
| Pinnacle Buyer LLC<sup>(m)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; Delayed Draw Term Loan, 09/10/32 |  | 168 | &nbsp;&nbsp; 168099 |
| &nbsp;&nbsp;&nbsp; Term Loan, 09/10/32 |  | 873 | &nbsp;&nbsp; 874113 |
| &nbsp;&nbsp;&nbsp; Project Aurora U.S. Finco, Inc., USD Term Loan, <br> 09/24/32<sup>(d)(m)</sup><br>|  | 240 | &nbsp;&nbsp; 240300 |
| Sanmina Corp., Term Loan B, 08/06/32<sup>(d)(m)</sup> |  | 1032 | &nbsp;&nbsp; 1029420 |
|  |  |  | &nbsp;&nbsp; 4586386 |
| **Energy Equipment & Services — 0.0%** | **Energy Equipment & Services — 0.0%** | **Energy Equipment & Services — 0.0%** | **Energy Equipment & Services — 0.0%** |
| &nbsp;&nbsp;&nbsp; Meade Pipeline Co. LLC, Term Loan B, (3-mo. CME <br> Term SOFR at 0.00% Floor + 2.00%), 6.00%, <br> 09/22/32<br>|  | 267 | &nbsp;&nbsp; 266666 |
| **Entertainment — 0.5%** | **Entertainment — 0.5%** | **Entertainment — 0.5%** | **Entertainment — 0.5%** |
| &nbsp;&nbsp;&nbsp; Bally's Corp., 2021 Term Loan B, (3-mo. CME Term <br> SOFR at 0.50% Floor + 3.51%), 7.84%, 10/02/28<br>|  | 803 | &nbsp;&nbsp; 778019 |
| &nbsp;&nbsp;&nbsp; Delta 2 Lux SARL, 2024 1st Lien Term Loan B, (3-mo. <br> CME Term SOFR at 0.50% Floor + 2.00%), 6.00%, <br> 09/30/31<br>|  | 2568 | &nbsp;&nbsp; 2567263 |
|  |  |  | &nbsp;&nbsp; 3345282 |
| **Environmental, Maintenance & Security Service — 2.4%** | **Environmental, Maintenance & Security Service — 2.4%** | **Environmental, Maintenance & Security Service — 2.4%** | **Environmental, Maintenance & Security Service — 2.4%** |
| &nbsp;&nbsp;&nbsp; Action Environmental Group, Inc., 2023 Term Loan B, <br> (3-mo. CME Term SOFR at 0.50% Floor + 3.25%), <br> 7.25%, 10/24/30<sup>(d)</sup><br>|  | 803 | &nbsp;&nbsp; 801773 |
| Clean Harbors, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, (1-mo. CME Term SOFR at 0.00% <br> Floor + 1.75%), 5.91%, 10/09/28<br>|  | 904 | &nbsp;&nbsp; 904200 |
| &nbsp;&nbsp;&nbsp; 2025 Term Loan, 09/24/32<sup>(m)</sup> |  | 548 | &nbsp;&nbsp; 548685 |
| &nbsp;&nbsp;&nbsp; Filtration Group Corp., 2025 USD Term Loan, (1-mo. <br> CME Term SOFR at 0.50% Floor + 2.75%), 6.91%, <br> 10/21/28<br>|  | 3054 | &nbsp;&nbsp; 3065453 |
| &nbsp;&nbsp;&nbsp; GFL ES US LLC, 2025 Term Loan B, (3-mo. CME Term <br> SOFR at 0.00% Floor + 2.50%), 6.67%, 03/03/32<br>|  | 2456 | &nbsp;&nbsp; 2452783 |

---

------

Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Debt Strategies Fund, Inc. (DSU)** 

**(Percentages shown are based on Net Assets)**

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Environmental, Maintenance & Security Service (continued)** | **Environmental, Maintenance & Security Service (continued)** | **Environmental, Maintenance & Security Service (continued)** | **Environmental, Maintenance & Security Service (continued)** |
| &nbsp;&nbsp;&nbsp; JFL-Tiger Acquisition Co., Inc., Term Loan B, (1-mo. <br> CME Term SOFR at 0.50% Floor + 3.75%), 7.89%, <br> 10/17/30<br>| USD | 623 | &nbsp;&nbsp; $623727 |
| Madison IAQ LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, (6-mo. CME Term SOFR at 0.50% <br> Floor + 3.25%), 7.45%, 05/06/32<br>|  | 1451 | &nbsp;&nbsp; 1457386 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan, (6-mo. CME Term SOFR at 0.50% Floor + <br> 2.50%), 6.70%, 06/21/28<br>|  | 3179 | &nbsp;&nbsp; 3179348 |
| &nbsp;&nbsp;&nbsp; Packers Holdings LLC, 2021 Term Loan, (3-mo. CME <br> Term SOFR at 0.75% Floor + 3.35%), 7.66%, <br> 03/09/28<br>|  | 799 | &nbsp;&nbsp; 249364 |
| Reworld Holding Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; 2025 1st Lien Term Loan B, 01/15/31<sup>(m)</sup> |  | 365 | &nbsp;&nbsp; 363861 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, (1-mo. CME Term SOFR at 0.50% Floor <br> + 2.25%), 6.39%, 11/30/28<br>|  | 967 | &nbsp;&nbsp; 967047 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan C, (1-mo. CME Term SOFR at 0.50% Floor <br> + 2.25%), 6.39%, 11/30/28<br>|  | 75 | &nbsp;&nbsp; 74857 |
|  |  |  | &nbsp;&nbsp; 14688484 |
| **Financial Services — 1.4%** | **Financial Services — 1.4%** | **Financial Services — 1.4%** | **Financial Services — 1.4%** |
| &nbsp;&nbsp;&nbsp; Apex Group Treasury LLC, 2025 USD Term Loan B, <br> (3-mo. CME Term SOFR at 0.00% Floor + 3.50%), <br> 7.75%, 02/27/32<br>|  | 1493 | &nbsp;&nbsp; 1457561 |
| &nbsp;&nbsp;&nbsp; CPI Holdco B LLC, 2024 Term Loan, (1-mo. CME Term <br> SOFR + 2.00%), 6.16%, 05/19/31<br>|  | 2492 | &nbsp;&nbsp; 2489053 |
| &nbsp;&nbsp;&nbsp; ION Platform Finance U.S., Inc., USD Term Loan, <br> 09/30/32<sup>(d)(m)</sup><br>|  | 3364 | &nbsp;&nbsp; 3334565 |
| Orion U.S. Finco, Inc., 1st Lien Term Loan, 05/20/32<sup>(m)</sup> |  | 908 | &nbsp;&nbsp; 912540 |
| &nbsp;&nbsp;&nbsp; Setanta Aircraft Leasing DAC, 2024 Term Loan B, (3-mo. <br> CME Term SOFR at 0.00% Floor + 1.75%), 5.75%, <br> 11/05/28<br>|  | 411 | &nbsp;&nbsp; 413133 |
|  |  |  | &nbsp;&nbsp; 8606852 |
| **Food Products — 1.7%** | **Food Products — 1.7%** | **Food Products — 1.7%** | **Food Products — 1.7%** |
| &nbsp;&nbsp;&nbsp; Aramark Services, Inc., 2024 Term Loan B8, (1-mo. CME <br> Term SOFR at 0.00% Floor + 2.00%), 6.17%, <br> 06/22/30<br>|  | 946 | &nbsp;&nbsp; 947132 |
| &nbsp;&nbsp;&nbsp; Chobani LLC, 2025 Repriced Term Loan B, (1-mo. CME <br> Term SOFR at 0.00% Floor + 2.50%), 6.66%, <br> 10/25/27<br>|  | 3640 | &nbsp;&nbsp; 3648629 |
| Froneri U.S., Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 USD Term Loan B4, (6-mo. CME Term SOFR at <br> 0.00% Floor + 2.00%), 6.20%, 09/30/31<br>|  | 3141 | &nbsp;&nbsp; 3115077 |
| &nbsp;&nbsp;&nbsp; 2025 USD Term Loan, 08/02/32<sup>(m)</sup> |  | 323 | &nbsp;&nbsp; 322141 |
| &nbsp;&nbsp;&nbsp; H-Food Holdings LLC, 2025 Exit Term Loan, (3-mo. CME <br> Term SOFR at 2.00% Floor + 6.50%), 10.81%, <br> 03/29/30<br>|  | 146 | &nbsp;&nbsp; 146981 |
| &nbsp;&nbsp;&nbsp; Nomad Foods U.S. LLC, 2023 Term Loan B5, (6-mo. <br> CME Term SOFR at 0.50% Floor + 2.50%), 6.54%, <br> 11/12/29<br>|  | 893 | &nbsp;&nbsp; 893494 |
| &nbsp;&nbsp;&nbsp; UTZ Quality Foods LLC, 2025 Term Loan B, (3-mo. CME <br> Term SOFR at 0.00% Floor + 2.50%), 6.50%, <br> 01/29/32<br>|  | 1411 | &nbsp;&nbsp; 1410176 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Food Products (continued)** | **Food Products (continued)** | **Food Products (continued)** | **Food Products (continued)** |
| Wellness Pet LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 First Out Exchange Term Loan, (3-mo. CME <br> Term SOFR at 0.00% Floor + 3.95%), 7.95%, <br> 12/31/29<br>| USD | 229 | &nbsp;&nbsp; $181462 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Second Out Exchange Term Loan, (3-mo. CME <br> Term SOFR at 0.75% Floor + 4.01%), 8.01%, <br> 12/31/29<br>|  | 128 | &nbsp;&nbsp; 54976 |
|  |  |  | &nbsp;&nbsp; 10720068 |
| **Ground Transportation — 0.6%** | **Ground Transportation — 0.6%** | **Ground Transportation — 0.6%** | **Ground Transportation — 0.6%** |
| &nbsp;&nbsp;&nbsp; Genesee & Wyoming, Inc., 2024 Term Loan, (3-mo. CME <br> Term SOFR at 0.00% Floor + 1.75%), 5.75%, <br> 04/10/31<br>|  | 3486 | &nbsp;&nbsp; 3471331 |
| **Health Care Equipment & Supplies — 0.6%** | **Health Care Equipment & Supplies — 0.6%** | **Health Care Equipment & Supplies — 0.6%** | **Health Care Equipment & Supplies — 0.6%** |
| &nbsp;&nbsp;&nbsp; Avantor Funding, Inc., 2024 Term Loan B6, (1-mo. CME <br> Term SOFR at 0.50% Floor + 2.10%), 6.26%, <br> 11/08/27<br>|  | 100 | &nbsp;&nbsp; 100035 |
| Bausch & Lomb Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 Incremental Term Loan, (1-mo. CME Term <br> SOFR at 0.00% Floor + 4.00%), 8.17%, 09/29/28<br>|  | 835 | &nbsp;&nbsp; 833916 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, (1-mo. CME Term SOFR at 0.00% <br> Floor + 4.25%), 8.41%, 01/15/31<br>|  | 1872 | &nbsp;&nbsp; 1870629 |
| &nbsp;&nbsp;&nbsp; QuidelOrtho Corp., Term Loan, (3-mo. CME Term SOFR <br> at 0.00% Floor + 4.00%), 8.00%, 08/20/32<br>|  | 699 | &nbsp;&nbsp; 694925 |
|  |  |  | &nbsp;&nbsp; 3499505 |
| **Health Care Providers & Services — 3.2%** | **Health Care Providers & Services — 3.2%** | **Health Care Providers & Services — 3.2%** | **Health Care Providers & Services — 3.2%** |
| &nbsp;&nbsp;&nbsp; AHP Health Partners, Inc., 2025 Term Loan B, <br> 09/20/32<sup>(m)</sup><br>|  | 199 | &nbsp;&nbsp; 199656 |
| &nbsp;&nbsp;&nbsp; Concentra Health Services, Inc., 2025 Repriced Term <br> Loan B, (1-mo. CME Term SOFR at 0.00% Floor + <br> 2.00%), 6.16%, 07/26/31<br>|  | 611 | &nbsp;&nbsp; 612992 |
| &nbsp;&nbsp;&nbsp; Examworks Bidco, Inc., 2021 Term Loan, (1-mo. CME <br> Term SOFR at 0.50% Floor + 2.75%), 6.91%, <br> 11/01/28<br>|  | 2014 | &nbsp;&nbsp; 2016878 |
| EyeCare Partners LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Second Out Term Loan B, (6-mo. CME Term <br> SOFR at 0.00% Floor + 1.00%, 3.61% PIK), 8.84%, <br> 11/30/28<sup>(g)</sup><br>|  | 476 | &nbsp;&nbsp; 298846 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Superpriority New Money 1st Out Term Loan A, <br> (6-mo. CME Term SOFR at 0.00% Floor + 5.75%), <br> 9.88%, 08/31/28<br>|  | 684 | &nbsp;&nbsp; 687903 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Third Out Term Loan C, (3-mo. CME Term SOFR <br> at 0.00% Floor + 6.85%), 10.98%, 11/30/28<sup>(c)(h)</sup><br>|  | 44 | &nbsp;&nbsp; 9465 |
| &nbsp;&nbsp;&nbsp; ICON Luxembourg SARL, 2024 LUX Term Loan B, (3-<br> mo. CME Term SOFR at 0.50% Floor + 2.00%), <br> 6.00%, 07/03/28<br>|  | 489 | &nbsp;&nbsp; 488258 |
| &nbsp;&nbsp;&nbsp; LifePoint Health, Inc., 2024 1st Lien Term Loan B, (3-mo. <br> CME Term SOFR at 0.00% Floor + 3.75%), 8.07%, <br> 05/19/31<br>|  | 1060 | &nbsp;&nbsp; 1057542 |
| Medical Solutions Holdings, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 1st Lien Term Loan, (3-mo. CME Term SOFR at <br> 0.50% Floor + 3.60%), 7.91%, 11/01/28<br>|  | 537 | &nbsp;&nbsp; 184224 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 2nd Lien Term Loan, (3-mo. CME Term SOFR at <br> 0.50% Floor + 7.10%), 11.41%, 11/01/29<br>|  | 536 | &nbsp;&nbsp; 108095 |
| Medline Borrower LP |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Incremental Term Loan B, (1-mo. CME Term <br> SOFR at 0.50% Floor + 2.00%), 6.16%, 10/23/30<br>|  | 244 | &nbsp;&nbsp; 244236 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Debt Strategies Fund, Inc. (DSU)** 

**(Percentages shown are based on Net Assets)**

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Health Care Providers & Services (continued)** | **Health Care Providers & Services (continued)** | **Health Care Providers & Services (continued)** | **Health Care Providers & Services (continued)** |
| Medline Borrower LP (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, (1-mo. CME Term SOFR at 0.50% <br> Floor + 2.00%), 6.16%, 10/23/28<br>| USD | 7115 | &nbsp;&nbsp; $7114787 |
| &nbsp;&nbsp;&nbsp; Parexel International Corp., 2025 Term Loan B, (1-mo. <br> CME Term SOFR at 0.50% Floor + 2.50%), 6.66%, <br> 11/15/28<br>|  | 2507 | &nbsp;&nbsp; 2508471 |
| &nbsp;&nbsp;&nbsp; Sotera Health Holdings LLC, 2025 Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 2.50%), 6.66%, <br> 05/30/31<br>|  | 1877 | &nbsp;&nbsp; 1877923 |
| &nbsp;&nbsp;&nbsp; Star Parent, Inc., Term Loan B, (3-mo. CME Term SOFR <br> at 0.00% Floor + 4.00%), 8.00%, 09/27/30<br>|  | 874 | &nbsp;&nbsp; 873418 |
| &nbsp;&nbsp;&nbsp; Surgery Center Holdings, Inc., 2025 Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 2.50%), 6.66%, <br> 12/19/30<br>|  | 1314 | &nbsp;&nbsp; 1314093 |
| &nbsp;&nbsp;&nbsp; Team Health Holdings, Inc., 2025 Term Loan B, (3-mo. <br> CME Term SOFR at 0.00% Floor + 4.50%), 8.80%, <br> 06/30/28<br>|  | 473 | &nbsp;&nbsp; 471534 |
|  |  |  | &nbsp;&nbsp; 20068321 |
| **Hotel & Resort REITs — 0.1%** | **Hotel & Resort REITs — 0.1%** | **Hotel & Resort REITs — 0.1%** | **Hotel & Resort REITs — 0.1%** |
| &nbsp;&nbsp;&nbsp; RHP Hotel Properties LP, 2024 1st Lien Term Loan B, <br> (1-mo. CME Term SOFR at 0.00% Floor + 2.00%), <br> 6.16%, 05/20/30<br>|  | 437 | &nbsp;&nbsp; 436684 |
| **Hotels, Restaurants & Leisure — 6.0%** | **Hotels, Restaurants & Leisure — 6.0%** | **Hotels, Restaurants & Leisure — 6.0%** | **Hotels, Restaurants & Leisure — 6.0%** |
| Aimbridge Acquisition Co., Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 1st Lien Second Out Term Loan, (1-mo. CME <br> Term SOFR at 1.00% Floor + 1.61%), 11.76%, <br> 03/11/30<br>|  | 186 | &nbsp;&nbsp; 185434 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 First Out Term Loan, (1-mo. CME Term SOFR at <br> 1.00% Floor + 5.61%), 9.76%, 03/11/30<br>|  | 203 | &nbsp;&nbsp; 202493 |
| &nbsp;&nbsp;&nbsp; Alterra Mountain Co., 2025 Term Loan B8, (1-mo. CME <br> Term SOFR at 0.00% Floor + 2.50%), 6.66%, <br> 05/31/30<br>|  | 924 | &nbsp;&nbsp; 924325 |
| &nbsp;&nbsp;&nbsp; Burger King (Restaurant Brands International Inc.)/New <br> Red Finance, Inc., 2024 Term Loan B6, (1-mo. CME <br> Term SOFR at 0.00% Floor + 1.75%), 5.91%, <br> 09/20/30<br>|  | 1846 | &nbsp;&nbsp; 1837885 |
| Caesars Entertainment, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B1, (1-mo. CME Term SOFR + <br> 2.25%), 6.41%, 02/06/31<br>|  | 2872 | &nbsp;&nbsp; 2862310 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, (1-mo. CME Term SOFR + 2.25%), <br> 6.41%, 02/06/30<br>|  | 922 | &nbsp;&nbsp; 918640 |
| &nbsp;&nbsp;&nbsp; EOC Borrower LLC, Term Loan B, (1-mo. CME Term <br> SOFR at 0.00% Floor + 3.00%), 7.16%, 03/24/32<br>|  | 3112 | &nbsp;&nbsp; 3110644 |
| &nbsp;&nbsp;&nbsp; Fertitta Entertainment LLC/NV, 2022 Term Loan B, (1-<br> mo. CME Term SOFR at 0.50% Floor + 3.25%), <br> 7.41%, 01/27/29<br>|  | 3925 | &nbsp;&nbsp; 3918246 |
| Flutter Financing BV |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, (3-mo. CME Term SOFR at 0.50% <br> Floor + 1.75%), 5.75%, 11/30/30<br>|  | 3454 | &nbsp;&nbsp; 3439670 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, (3-mo. CME Term SOFR at 0.50% <br> Floor + 2.00%), 6.00%, 06/04/32<br>|  | 1203 | &nbsp;&nbsp; 1200651 |
| &nbsp;&nbsp;&nbsp; Four Seasons Hotels Ltd., 2025 Term Loan B, (1-mo. <br> CME Term SOFR at 0.50% Floor + 1.75%), 5.91%, <br> 09/22/32<br>|  | 2790 | &nbsp;&nbsp; 2792960 |
| &nbsp;&nbsp;&nbsp; Great Canadian Gaming Corp., 2024 Term Loan B, (3-<br> mo. CME Term SOFR at 0.00% Floor + 4.75%), <br> 8.75%, 11/01/29<br>|  | 750 | &nbsp;&nbsp; 720956 |
| &nbsp;&nbsp;&nbsp; Herschend Entertainment Co. LLC, 2025 Term Loan B, <br> (1-mo. CME Term SOFR at 0.00% Floor + 3.25%), <br> 7.41%, 05/27/32<br>|  | 826 | &nbsp;&nbsp; 828168 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Hotels, Restaurants & Leisure (continued)** | **Hotels, Restaurants & Leisure (continued)** | **Hotels, Restaurants & Leisure (continued)** | **Hotels, Restaurants & Leisure (continued)** |
| &nbsp;&nbsp;&nbsp; Hilton Domestic Operating Co., Inc., 2023 Term Loan B4, <br> (1-mo. CME Term SOFR + 1.75%), 5.91%, 11/08/30<br>| USD | 696 | &nbsp;&nbsp; $696445 |
| &nbsp;&nbsp;&nbsp; IRB Holding Corp., 2024 1st Lien Term Loan B, (1-mo. <br> CME Term SOFR at 0.75% Floor + 2.50%), 6.66%, <br> 12/15/27<br>|  | 1674 | &nbsp;&nbsp; 1673890 |
| &nbsp;&nbsp;&nbsp; Light & Wonder International, Inc., 2024 Term Loan B2, <br> (1-mo. CME Term SOFR at 0.50% Floor + 2.25%), <br> 6.39%, 04/14/29<br>|  | 978 | &nbsp;&nbsp; 978439 |
| &nbsp;&nbsp;&nbsp; Motion Finco SARL, 2024 USD Term Loan B, (3-mo. <br> CME Term SOFR at 0.00% Floor + 3.50%), 7.50%, <br> 11/12/29<br>|  | 1731 | &nbsp;&nbsp; 1547874 |
| &nbsp;&nbsp;&nbsp; Ontario Gaming GTA LP, Term Loan B, (3-mo. CME Term <br> SOFR at 0.50% Floor + 4.25%), 8.24%, 08/01/30<br>|  | 503 | &nbsp;&nbsp; 490549 |
| &nbsp;&nbsp;&nbsp; Penn Entertainment, Inc., 2022 Term Loan B, (1-mo. <br> CME Term SOFR at 0.50% Floor + 2.50%), 6.66%, <br> 05/03/29<br>|  | 1246 | &nbsp;&nbsp; 1244333 |
| Sabre GLBL, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan B1, (1-mo. CME Term SOFR at <br> 0.50% Floor + 3.61%), 7.78%, 12/17/27<br>|  | 168 | &nbsp;&nbsp; 159057 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan B2, (1-mo. CME Term SOFR at <br> 0.50% Floor + 3.61%), 7.78%, 12/17/27<br>|  | 55 | &nbsp;&nbsp; 51726 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 1st Lien Term Loan B, (1-mo. CME Term SOFR <br> + 5.10%), 9.26%, 06/30/28<br>|  | 28 | &nbsp;&nbsp; 25793 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B1, (1-mo. CME Term SOFR at <br> 0.50% Floor + 6.10%), 10.26%, 11/15/29<sup>(d)</sup><br>|  | 460 | &nbsp;&nbsp; 432220 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B2, (1-mo. CME Term SOFR at <br> 0.50% Floor + 6.10%), 10.26%, 11/15/29<sup>(d)</sup><br>|  | 234 | &nbsp;&nbsp; 220453 |
| &nbsp;&nbsp;&nbsp; SeaWorld Parks & Entertainment, Inc., 2024 Term Loan <br> B3, (1-mo. CME Term SOFR at 0.50% Floor + 2.00%), <br> 6.16%, 12/04/31<br>|  | 460 | &nbsp;&nbsp; 458637 |
| &nbsp;&nbsp;&nbsp; Six Flags Entertainment Corp., 2024 Term Loan B, (1-<br> mo. CME Term SOFR at 0.00% Floor + 2.00%), <br> 6.16%, 05/01/31<br>|  | 299 | &nbsp;&nbsp; 297043 |
| &nbsp;&nbsp;&nbsp; Station Casinos LLC, 2024 Term Loan B, (1-mo. CME <br> Term SOFR at 0.00% Floor + 2.00%), 6.16%, <br> 03/14/31<br>|  | 1874 | &nbsp;&nbsp; 1873389 |
| Turquoise Topco Ltd., Term Loan B, 08/13/32<sup>(m)</sup> |  | 734 | &nbsp;&nbsp; 734462 |
| &nbsp;&nbsp;&nbsp; Voyager Parent LLC, Term Loan B, (3-mo. CME Term <br> SOFR at 0.00% Floor + 4.75%), 8.75%, 07/01/32<br>|  | 1038 | &nbsp;&nbsp; 1039422 |
| &nbsp;&nbsp;&nbsp; Whatabrands LLC, 2024 1st Lien Term Loan B, (1-mo. <br> CME Term SOFR at 0.50% Floor + 2.50%), 6.66%, <br> 08/03/28<br>|  | 1092 | &nbsp;&nbsp; 1092382 |
| &nbsp;&nbsp;&nbsp; Wyndham Hotels & Resorts, Inc., 2024 Term Loan, (1-<br> mo. CME Term SOFR at 0.00% Floor + 1.75%), <br> 5.91%, 05/24/30<br>|  | 1134 | &nbsp;&nbsp; 1137184 |
|  |  |  | &nbsp;&nbsp; 37095680 |
| **Household Durables — 1.2%** | **Household Durables — 1.2%** | **Household Durables — 1.2%** | **Household Durables — 1.2%** |
| &nbsp;&nbsp;&nbsp; AI Aqua Merger Sub, Inc., 2024 1st Lien Term Loan B, <br> (1-mo. CME Term SOFR at 0.50% Floor + 3.00%), <br> 7.28%, 07/31/28<br>|  | 1959 | &nbsp;&nbsp; 1963074 |
| &nbsp;&nbsp;&nbsp; Hunter Douglas, Inc., 2025 USD Term Loan B, (3-mo. <br> CME Term SOFR at 0.50% Floor + 3.25%), 7.25%, <br> 01/20/32<br>|  | 1978 | &nbsp;&nbsp; 1977779 |
| &nbsp;&nbsp;&nbsp; Somnigroup International, Inc., Term Loan B, (1-mo. <br> SOFR + 2.25%), 6.37%, 10/24/31<br>|  | 423 | &nbsp;&nbsp; 424744 |
| Springs Windows Fashions LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 First Lien Second Out Term Loan A2, (1-mo. <br> CME Term SOFR at 1.00% Floor + 4.11%), 8.28%, <br> 10/06/28<br>|  | 658 | &nbsp;&nbsp; 535160 |

---

------

Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Debt Strategies Fund, Inc. (DSU)** 

**(Percentages shown are based on Net Assets)**

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Household Durables (continued)** | **Household Durables (continued)** | **Household Durables (continued)** | **Household Durables (continued)** |
| Springs Windows Fashions LLC (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 FLFO A1 Term Loan, (1-mo. CME Term SOFR at <br> 1.00% Floor + 4.50%), 8.66%, 12/19/29<br>| USD | 153 | &nbsp;&nbsp; $153324 |
| Weber-Stephen Products LLC |  |  |  |
| &nbsp;&nbsp;&nbsp; 2025 Term Loan B, 09/17/32<sup>(m)</sup> |  | 1428 | &nbsp;&nbsp; 1411935 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, (1-mo. CME Term SOFR at 0.75% Floor <br> + 3.25%), 7.53%, 10/30/27<br>|  | 813 | &nbsp;&nbsp; 804211 |
|  |  |  | &nbsp;&nbsp; 7270227 |
| **Household Products — 0.2%** | **Household Products — 0.2%** | **Household Products — 0.2%** | **Household Products — 0.2%** |
| &nbsp;&nbsp;&nbsp; Lavender U.S. HoldCo 1, Inc., USD Term Loan, <br> 09/27/32<sup>(d)(m)</sup><br>|  | 859 | &nbsp;&nbsp; 859000 |
| &nbsp;&nbsp;&nbsp; Reynolds Consumer Products LLC, 2025 Term Loan B, <br> (1-mo. CME Term SOFR at 0.00% Floor + 1.75%), <br> 5.91%, 03/04/32<br>|  | 260 | &nbsp;&nbsp; 260085 |
|  |  |  | &nbsp;&nbsp; 1119085 |
| **Independent Power and Renewable Electricity Producers — 0.8%** | **Independent Power and Renewable Electricity Producers — 0.8%** | **Independent Power and Renewable Electricity Producers — 0.8%** | **Independent Power and Renewable Electricity Producers — 0.8%** |
| &nbsp;&nbsp;&nbsp; Calpine Construction Finance Co. LP, 2023 Refinancing <br> Term Loan B, (1-mo. CME Term SOFR at 0.00% Floor <br> + 2.00%), 6.16%, 07/31/30<br>|  | 1647 | &nbsp;&nbsp; 1646250 |
| &nbsp;&nbsp;&nbsp; Calpine Corp., 2024 Term Loan B10, (1-mo. CME Term <br> SOFR at 0.00% Floor + 1.75%), 5.91%, 01/31/31<br>|  | 697 | &nbsp;&nbsp; 696547 |
| &nbsp;&nbsp;&nbsp; NRG Energy, Inc., 2024 Term Loan, (3-mo. CME Term <br> SOFR at 0.00% Floor + 1.75%), 6.06%, 04/16/31<br>|  | 2813 | &nbsp;&nbsp; 2811871 |
|  |  |  | &nbsp;&nbsp; 5154668 |
| **Industrial Conglomerates — 0.0%** | **Industrial Conglomerates — 0.0%** | **Industrial Conglomerates — 0.0%** | **Industrial Conglomerates — 0.0%** |
| &nbsp;&nbsp;&nbsp; Stitch Acquisition Corp., 2024 2nd Out Term Loan, (3-mo. <br> CME Term SOFR + 7.50%), 11.76%, 12/31/29<br>|  | 211 | &nbsp;&nbsp; 172247 |
| **Insurance — 7.0%** | **Insurance — 7.0%** | **Insurance — 7.0%** | **Insurance — 7.0%** |
| &nbsp;&nbsp;&nbsp; Alliant Holdings Intermediate LLC, 2025 Term Loan B, <br> (1-mo. CME Term SOFR at 0.00% Floor + 2.50%), <br> 6.67%, 09/19/31<br>|  | 6750 | &nbsp;&nbsp; 6730784 |
| &nbsp;&nbsp;&nbsp; AmWINS Group, Inc., 2025 Term Loan B, (3-mo. CME <br> Term SOFR at 0.75% Floor + 2.25%), 6.25%, <br> 01/30/32<br>|  | 2577 | &nbsp;&nbsp; 2574829 |
| &nbsp;&nbsp;&nbsp; Amynta Agency Borrower, Inc., 2025 Term Loan B, (1-<br> mo. CME Term SOFR at 0.00% Floor + 2.75%), <br> 6.91%, 12/29/31<br>|  | 2417 | &nbsp;&nbsp; 2406838 |
| &nbsp;&nbsp;&nbsp; Ardonagh Group Finco Pty. Ltd., 2024 USD Term Loan <br> B, (6-mo. CME Term SOFR at 0.00% Floor + 2.75%), <br> 6.94%, 02/15/31<br>|  | 2451 | &nbsp;&nbsp; 2436795 |
| Asurion LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 2nd Lien Term Loan B3, (1-mo. CME Term <br> SOFR + 5.36%), 9.53%, 01/31/28<br>|  | 985 | &nbsp;&nbsp; 958286 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 Second Lien Term Loan B4, (1-mo. CME Term <br> SOFR + 5.36%), 9.53%, 01/20/29<br>|  | 953 | &nbsp;&nbsp; 910248 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 Term Loan B11, (1-mo. CME Term SOFR at <br> 0.00% Floor + 4.35%), 8.51%, 08/19/28<br>|  | 1348 | &nbsp;&nbsp; 1351690 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B12, (1-mo. CME Term SOFR at <br> 0.00% Floor + 4.25%), 8.41%, 09/19/30<br>|  | 732 | &nbsp;&nbsp; 729256 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B13, (1-mo. CME Term SOFR at <br> 0.00% Floor + 4.25%), 8.41%, 09/19/30<br>|  | 1691 | &nbsp;&nbsp; 1678690 |
| &nbsp;&nbsp;&nbsp; Baldwin Insurance Group Holdings LLC, 2025 Term Loan <br> B2, (3-mo. CME Term SOFR at 0.00% Floor + 2.50%), <br> 6.64%, 05/26/31<br>|  | 955 | &nbsp;&nbsp; 954246 |
| &nbsp;&nbsp;&nbsp; Howden Group Holdings Ltd., 2024 USD Term Loan B, <br> (1-mo. CME Term SOFR at 0.50% Floor + 3.50%), <br> 7.66%, 04/18/30<br>|  | 170 | &nbsp;&nbsp; 169968 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Insurance (continued)** | **Insurance (continued)** | **Insurance (continued)** | **Insurance (continued)** |
| &nbsp;&nbsp;&nbsp; HUB International Ltd., 2025 Term Loan B, (3-mo. CME <br> Term SOFR at 0.00% Floor + 2.25%), 6.58%, <br> 06/20/30<br>| USD | 4289 | &nbsp;&nbsp; $4294333 |
| &nbsp;&nbsp;&nbsp; Hyperion Refinance SARL, 2025 USD Term Loan B, <br> (1-mo. CME Term SOFR at 0.50% Floor + 2.75%), <br> 6.91%, 02/15/31<br>|  | 1682 | &nbsp;&nbsp; 1681804 |
| &nbsp;&nbsp;&nbsp; Jones Deslauriers Insurance Management, Inc., <br> 2025 Term Loan B, (3-mo. CME Term SOFR at 0.00% <br> Floor + 2.75%), 7.06%, 03/15/30<br>|  | 1107 | &nbsp;&nbsp; 1100887 |
| &nbsp;&nbsp;&nbsp; OneDigital Borrower LLC, 2025 Repriced Term Loan, <br> (1-mo. CME Term SOFR at 0.50% Floor + 3.00%), <br> 7.16%, 07/02/31<br>|  | 214 | &nbsp;&nbsp; 214193 |
| &nbsp;&nbsp;&nbsp; Ryan Specialty LLC, 2024 USD Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 2.00%), 6.16%, <br> 09/15/31<br>|  | 1870 | &nbsp;&nbsp; 1869070 |
| &nbsp;&nbsp;&nbsp; Sedgwick Claims Management Services, Inc., 2023 Term <br> Loan B, (1-mo. CME Term SOFR at 0.00% Floor + <br> 2.50%), 6.66%, 07/31/31<br>|  | 3562 | &nbsp;&nbsp; 3556501 |
| Truist Insurance Holdings LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, (3-mo. CME Term SOFR at 0.00% <br> Floor + 2.75%), 6.75%, 05/06/31<br>|  | 3701 | &nbsp;&nbsp; 3694735 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2nd Lien Term Loan, (3-mo. CME Term SOFR at <br> 0.00% Floor + 4.75%), 8.75%, 05/06/32<br>|  | 476 | &nbsp;&nbsp; 483968 |
| USI, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan C, (3-mo. CME Term SOFR at 0.00% <br> Floor + 2.25%), 6.25%, 09/29/30<br>|  | 1761 | &nbsp;&nbsp; 1758303 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan D, (3-mo. CME Term SOFR at 0.00% <br> Floor + 2.25%), 6.25%, 11/21/29<br>|  | 3612 | &nbsp;&nbsp; 3607374 |
|  |  |  | &nbsp;&nbsp; 43162798 |
| **Interactive Media & Services — 0.5%** | **Interactive Media & Services — 0.5%** | **Interactive Media & Services — 0.5%** | **Interactive Media & Services — 0.5%** |
| MH Sub I LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 Term Loan, (3-mo. CME Term SOFR at 0.50% <br> Floor + 4.25%), 8.25%, 05/03/28<br>|  | 613 | &nbsp;&nbsp; 588718 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B4, (1-mo. CME Term SOFR at <br> 0.50% Floor + 4.25%), 8.41%, 12/31/31<br>|  | 527 | &nbsp;&nbsp; 483996 |
| &nbsp;&nbsp;&nbsp; Speedster Bidco GmbH, 2024 USD Term Loan B, (3-mo. <br> CME Term SOFR at 0.50% Floor + 3.25%), 7.24%, <br> 12/10/31<br>|  | 2151 | &nbsp;&nbsp; 2152559 |
|  |  |  | &nbsp;&nbsp; 3225273 |
| **Internet Software & Services — 2.3%** | **Internet Software & Services — 2.3%** | **Internet Software & Services — 2.3%** | **Internet Software & Services — 2.3%** |
| &nbsp;&nbsp;&nbsp; Barracuda Networks, Inc., 2022 Term Loan, (3-mo. CME <br> Term SOFR at 0.50% Floor + 4.50%), 8.81%, <br> 08/15/29<br>|  | 1063 | &nbsp;&nbsp; 887298 |
| &nbsp;&nbsp;&nbsp; CNT Holdings I Corp., 2025 Term Loan, (3-mo. CME <br> Term SOFR at 0.75% Floor + 2.25%), 6.56%, <br> 11/08/32<br>|  | 1325 | &nbsp;&nbsp; 1323561 |
| Gen Digital, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, (1-mo. CME Term SOFR + <br> 1.75%), 5.91%, 09/12/29<br>|  | 2845 | &nbsp;&nbsp; 2836531 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, (1-mo. CME Term SOFR at 0.50% <br> Floor + 1.75%), 5.91%, 04/16/32<br>|  | 289 | &nbsp;&nbsp; 287627 |
| Go Daddy Operating Co. LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B7, (1-mo. CME Term SOFR + <br> 1.75%), 5.91%, 05/30/31<br>|  | 2289 | &nbsp;&nbsp; 2284953 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B8, (1-mo. CME Term SOFR at <br> 0.00% Floor + 1.75%), 5.91%, 11/09/29<br>|  | 1239 | &nbsp;&nbsp; 1237435 |
| Proofpoint, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan, (1-mo. CME Term SOFR at 0.50% <br> Floor + 3.00%), 7.16%, 08/31/28<br>|  | 3081 | &nbsp;&nbsp; 3089137 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Debt Strategies Fund, Inc. (DSU)** 

**(Percentages shown are based on Net Assets)**

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Internet Software & Services (continued)** | **Internet Software & Services (continued)** | **Internet Software & Services (continued)** | **Internet Software & Services (continued)** |
| Proofpoint, Inc. (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp; 2025 Fungible Term Loan, 08/31/28<sup>(m)</sup> | USD | 318 | &nbsp;&nbsp; $318830 |
| &nbsp;&nbsp;&nbsp; StubHub Holdco Sub LLC, 2024 Extended Term Loan B, <br> (1-mo. CME Term SOFR + 4.75%), 8.91%, 03/15/30<br>|  | 2222 | &nbsp;&nbsp; 2198691 |
|  |  |  | &nbsp;&nbsp; 14464063 |
| **IT Services — 3.7%** | **IT Services — 3.7%** | **IT Services — 3.7%** | **IT Services — 3.7%** |
| &nbsp;&nbsp;&nbsp; Amentum Holdings, Inc., 2024 Term Loan B, (1-mo. CME <br> Term SOFR at 0.00% Floor + 2.25%), 6.41%, <br> 09/29/31<br>|  | 1255 | &nbsp;&nbsp; 1253706 |
| Avalara, Inc., 2025 Term Loan, 03/26/32<sup>(m)</sup> |  | 111 | &nbsp;&nbsp; 110691 |
| &nbsp;&nbsp;&nbsp; Capstone Borrower, Inc., 2025 Term Loan B, (3-mo. <br> CME Term SOFR at 0.00% Floor + 2.75%), 6.75%, <br> 06/17/30<br>|  | 1134 | &nbsp;&nbsp; 1130907 |
| &nbsp;&nbsp;&nbsp; Clover Holdings 2 LLC, Term Loan B, (1-mo. CME Term <br> SOFR at 0.00% Floor + 3.75%), 7.94%, 12/09/31<br>|  | 2991 | &nbsp;&nbsp; 2990448 |
| &nbsp;&nbsp;&nbsp; Dayforce, Inc., 2025 Term Loan B, (3-mo. CME Term <br> SOFR at 0.00% Floor + 2.00%), 6.31%, 03/01/31<sup>(d)</sup><br>|  | 1658 | &nbsp;&nbsp; 1658075 |
| &nbsp;&nbsp;&nbsp; Finastra USA, Inc., 2025 1st Lien Term Loan, (3-mo. <br> CME Term SOFR at 0.00% Floor + 4.00%), 8.04%, <br> 07/30/32<br>|  | 3638 | &nbsp;&nbsp; 3621120 |
| &nbsp;&nbsp;&nbsp; Fortress Intermediate 3, Inc., 2025 Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 3.00%), 7.25%, <br> 06/27/31<br>|  | 563 | &nbsp;&nbsp; 564267 |
| Magenta Security Holdings LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 First Out Term Loan, (3-mo. CME Term SOFR at <br> 0.75% Floor + 7.01%), 11.32%, 07/27/28<br>|  | 307 | &nbsp;&nbsp; 251174 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Second Out Term Loan, (3-mo. CME Term <br> SOFR at 0.75% Floor + 7.26%), 11.57%, 07/27/28<br>|  | 466 | &nbsp;&nbsp; 201647 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Third Out Term Loan, (3-mo. CME Term SOFR <br> at 0.75% Floor + 6.51%), 10.82%, 07/27/28<sup>(c)(h)</sup><br>|  | 976 | &nbsp;&nbsp; 194378 |
| &nbsp;&nbsp;&nbsp; McAfee Corp., 2024 USD 1st Lien Term Loan B, (1-mo. <br> CME Term SOFR at 0.50% Floor + 3.00%), 7.22%, <br> 03/01/29<br>|  | 1749 | &nbsp;&nbsp; 1667659 |
| &nbsp;&nbsp;&nbsp; Peraton Corp., Term Loan B, (1-mo. CME Term SOFR at <br> 0.75% Floor + 3.85%), 8.01%, 02/01/28<br>|  | 1628 | &nbsp;&nbsp; 1370361 |
| &nbsp;&nbsp;&nbsp; Polaris Newco LLC, USD Term Loan B, (3-mo. CME <br> Term SOFR at 0.50% Floor + 4.26%), 8.57%, <br> 06/02/28<br>|  | 1511 | &nbsp;&nbsp; 1454224 |
| &nbsp;&nbsp;&nbsp; Project Alpha Intermediate Holding, Inc., 2024 1st Lien <br> Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor <br> + 3.25%), 7.25%, 10/26/30<br>|  | 856 | &nbsp;&nbsp; 857793 |
| &nbsp;&nbsp;&nbsp; Quartz Acquireco LLC, 2025 Term Loan B, (3-mo. CME <br> Term SOFR at 0.00% Floor + 2.25%), 6.25%, <br> 06/28/30<br>|  | 1469 | &nbsp;&nbsp; 1462588 |
| &nbsp;&nbsp;&nbsp; Skopima Consilio Parent LLC, 2024 Repriced Term <br> Loan, (1-mo. CME Term SOFR at 0.50% Floor + <br> 3.75%), 7.91%, 05/12/28<br>|  | 815 | &nbsp;&nbsp; 688467 |
| &nbsp;&nbsp;&nbsp; Tempo Acquisition LLC, 2025 Repriced Term Loan B, <br> (1-mo. CME Term SOFR at 0.00% Floor + 1.75%), <br> 5.91%, 08/31/28<br>|  | 982 | &nbsp;&nbsp; 958327 |
| &nbsp;&nbsp;&nbsp; X Corp., Term Loan, (3-mo. CME Term SOFR at 0.50% <br> Floor + 6.65%), 10.96%, 10/26/29<br>|  | 2438 | &nbsp;&nbsp; 2389372 |
|  |  |  | &nbsp;&nbsp; 22825204 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Leisure Products — 0.3%** | **Leisure Products — 0.3%** | **Leisure Products — 0.3%** | **Leisure Products — 0.3%** |
| &nbsp;&nbsp;&nbsp; Bombardier Recreational Products, Inc., 2024 Term Loan <br> B4, 01/22/31<sup>(m)</sup><br>| USD | 556 | &nbsp;&nbsp; $556350 |
| &nbsp;&nbsp;&nbsp; City Football Group Ltd., 2024 Term Loan, (1-mo. CME <br> Term SOFR at 0.50% Floor + 3.61%), 7.70%, <br> 07/22/30<br>|  | 1189 | &nbsp;&nbsp; 1188443 |
|  |  |  | &nbsp;&nbsp; 1744793 |
| **Machinery — 2.8%** | **Machinery — 2.8%** | **Machinery — 2.8%** | **Machinery — 2.8%** |
| &nbsp;&nbsp;&nbsp; Arcline FM Holdings LLC, 2025 Term Loan, (6-mo. CME <br> Term SOFR at 0.75% Floor + 3.50%), 7.58%, <br> 06/24/30<br>|  | 799 | &nbsp;&nbsp; 798374 |
| &nbsp;&nbsp;&nbsp; Chart Industries, Inc., 2024 Term Loan B, (3-mo. CME <br> Term SOFR + 2.50%), 6.79%, 03/15/30<br>|  | 506 | &nbsp;&nbsp; 507707 |
| &nbsp;&nbsp;&nbsp; Columbus McKinnon Corp., 2024 Term Loan, (3-mo. <br> CME Term SOFR at 0.50% Floor + 2.50%), 6.50%, <br> 05/14/28<sup>(d)</sup><br>|  | 267 | &nbsp;&nbsp; 267170 |
| &nbsp;&nbsp;&nbsp; Generac Power Systems, Inc., 2024 Term Loan B, (1-<br> mo. CME Term SOFR at 0.00% Floor + 1.75%), <br> 6.03%, 07/03/31<br>|  | 287 | &nbsp;&nbsp; 288177 |
| &nbsp;&nbsp;&nbsp; GrafTech Global Enterprises, Inc., 2024 Term Loan, (1-<br> mo. CME Term SOFR at 2.00% Floor + 6.00%), <br> 10.16%, 12/21/29<br>|  | 25 | &nbsp;&nbsp; 25750 |
| &nbsp;&nbsp;&nbsp; Husky Injection Molding Systems Ltd., 2024 Term Loan <br> B, (1-mo. CME Term SOFR at 0.00% Floor + 3.75%), <br> 7.75%, 02/15/29<br>|  | 3878 | &nbsp;&nbsp; 3885823 |
| &nbsp;&nbsp;&nbsp; Indicor LLC, 2024 USD 1st Lien Term Loan B, (3-mo. <br> CME Term SOFR at 0.50% Floor + 2.75%), 6.75%, <br> 11/22/29<br>|  | 791 | &nbsp;&nbsp; 792150 |
| &nbsp;&nbsp;&nbsp; Madison Safety & Flow LLC, 2025 Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 2.75%), 6.91%, <br> 09/26/31<br>|  | 487 | &nbsp;&nbsp; 487488 |
| &nbsp;&nbsp;&nbsp; SPX Flow, Inc., 2025 Term Loan, (1-mo. CME Term <br> SOFR at 0.50% Floor + 2.75%), 6.91%, 04/05/29<br>|  | 2506 | &nbsp;&nbsp; 2515260 |
| &nbsp;&nbsp;&nbsp; TK Elevator U.S. Newco, Inc., 2025 USD Term Loan B, <br> (3-mo. CME Term SOFR at 0.50% Floor + 3.00%), <br> 7.20%, 04/30/30<br>|  | 2467 | &nbsp;&nbsp; 2471998 |
| &nbsp;&nbsp;&nbsp; Vertiv Group Corp., 2025 Term Loan, (1-mo. CME Term <br> SOFR at 0.00% Floor + 1.75%), 6.03%, 08/12/32<br>|  | 3493 | &nbsp;&nbsp; 3496053 |
| &nbsp;&nbsp;&nbsp; WEC U.S. Holdings, Inc., 2024 Term Loan, (1-mo. CME <br> Term SOFR at 0.00% Floor + 2.25%), 6.53%, <br> 01/27/31<br>|  | 1837 | &nbsp;&nbsp; 1837076 |
|  |  |  | &nbsp;&nbsp; 17373026 |
| **Media — 3.6%** | **Media — 3.6%** | **Media — 3.6%** | **Media — 3.6%** |
| Charter Communications Operating LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 Term Loan B4, (3-mo. CME Term SOFR at <br> 0.00% Floor + 2.00%), 6.29%, 12/07/30<br>|  | 1231 | &nbsp;&nbsp; 1229150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B5, (3-mo. CME Term SOFR at <br> 0.00% Floor + 2.25%), 6.54%, 12/15/31<br>|  | 859 | &nbsp;&nbsp; 858625 |
| &nbsp;&nbsp;&nbsp; Crown Finance U.S., Inc., 2025 Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 4.50%), 8.78%, <br> 12/02/31<br>|  | 905 | &nbsp;&nbsp; 901961 |
| CSC Holdings LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2019 Term Loan B5, (Prime + 1.50%), 8.75%, <br> 04/15/27<br>|  | 2466 | &nbsp;&nbsp; 2383860 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 Term Loan B6, (1-mo. CME Term SOFR at <br> 0.00% Floor + 4.50%), 8.65%, 01/18/28<br>|  | 373 | &nbsp;&nbsp; 370353 |
| &nbsp;&nbsp;&nbsp; DirecTV Financing LLC, Term Loan, (3-mo. CME Term <br> SOFR at 0.75% Floor + 5.26%), 9.57%, 08/02/27<br>|  | 91 | &nbsp;&nbsp; 91071 |

---

------

Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Debt Strategies Fund, Inc. (DSU)** 

**(Percentages shown are based on Net Assets)**

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Media (continued)** | **Media (continued)** | **Media (continued)** | **Media (continued)** |
| &nbsp;&nbsp;&nbsp; DK Crown Holdings, Inc., 2025 Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 1.75%), 6.00%, <br> 03/04/32<br>| USD | 1935 | &nbsp;&nbsp; $1931161 |
| &nbsp;&nbsp;&nbsp; ECL Entertainment LLC, 2025 Term Loan B, (1-mo. CME <br> Term SOFR at 0.00% Floor + 3.00%), 7.16%, <br> 08/30/30<br>|  | 942 | &nbsp;&nbsp; 940243 |
| &nbsp;&nbsp;&nbsp; Gray Television, Inc., 2024 Term Loan B, (1-mo. CME <br> Term SOFR + 5.25%), 9.53%, 06/04/29<br>|  | 4 | &nbsp;&nbsp; 4398 |
| &nbsp;&nbsp;&nbsp; GVC Holdings Gibraltar Ltd., 2025 Term Loan B5 (2032), <br> 07/31/32<sup>(m)</sup><br>|  | 329 | &nbsp;&nbsp; 328341 |
| &nbsp;&nbsp;&nbsp; Learfield Communications LLC, 2024 Term Loan B, (1-<br> mo. CME Term SOFR at 0.00% Floor + 4.50%), <br> 8.66%, 06/30/28<br>|  | 542 | &nbsp;&nbsp; 546550 |
| &nbsp;&nbsp;&nbsp; Live Nation Entertainment, Inc., Term Loan B4, (1-mo. <br> CME Term SOFR at 0.00% Floor + 1.85%), 5.99%, <br> 10/19/26<br>|  | 1651 | &nbsp;&nbsp; 1647054 |
| &nbsp;&nbsp;&nbsp; NEP Group, Inc., 2018 1st Lien Term Loan, (1-mo. CME <br> Term SOFR at 0.00% Floor + 3.36%), 7.53%, <br> 08/19/26<br>|  | 145 | &nbsp;&nbsp; 142102 |
| &nbsp;&nbsp;&nbsp; Radiate Holdco LLC, 2025 FLFO Term Loan, (1-mo. <br> CME Term SOFR at 0.00% Floor + 3.61%, 1.50% <br> PIK), 9.28%, 09/25/29<sup>(g)</sup><br>|  | 2938 | &nbsp;&nbsp; 2366127 |
| &nbsp;&nbsp;&nbsp; Scientific Games Holdings LP, 2024 USD Term Loan B, <br> (3-mo. CME Term SOFR at 0.50% Floor + 3.00%), <br> 7.29%, 04/04/29<br>|  | 685 | &nbsp;&nbsp; 679377 |
| &nbsp;&nbsp;&nbsp; Telenet Financing USD LLC, 2020 USD Term Loan AR, <br> 04/30/28<sup>(m)</sup><br>|  | 325 | &nbsp;&nbsp; 322088 |
| &nbsp;&nbsp;&nbsp; UFC Holdings LLC, 1st Lien Term Loan B5, (3-mo. CME <br> Term SOFR at 0.00% Floor + 2.00%), 6.04%, <br> 11/21/31<br>|  | 3068 | &nbsp;&nbsp; 3071804 |
| &nbsp;&nbsp;&nbsp; Virgin Media Bristol LLC, 2020 USD Term Loan Q, (1-<br> mo. CME Term SOFR + 3.36%), 7.51%, 01/31/29<br>|  | 1212 | &nbsp;&nbsp; 1210836 |
| &nbsp;&nbsp;&nbsp; WMG Acquisition Corp., 2024 Term Loan J, (3-mo. CME <br> Term SOFR at 0.00% Floor + 1.75%), 5.95%, <br> 01/24/31<br>|  | 2657 | &nbsp;&nbsp; 2658718 |
| &nbsp;&nbsp;&nbsp; Ziggo Financing Partnership, USD Term Loan I, (1-mo. <br> CME Term SOFR at 0.00% Floor + 2.61%), 6.76%, <br> 04/30/28<br>|  | 979 | &nbsp;&nbsp; 975577 |
|  |  |  | &nbsp;&nbsp; 22659396 |
| **Metals & Mining — 0.4%** | **Metals & Mining — 0.4%** | **Metals & Mining — 0.4%** | **Metals & Mining — 0.4%** |
| &nbsp;&nbsp;&nbsp; AZZ, Inc., Term Loan B, (1-mo. CME Term SOFR + <br> 1.75%), 5.91%, 05/13/29<br>|  | 112 | &nbsp;&nbsp; 112415 |
| &nbsp;&nbsp;&nbsp; Covia Holdings LLC, 2025 Repriced Term Loan B, (3-mo. <br> CME Term SOFR at 0.00% Floor + 2.75%), 6.95%, <br> 02/26/32<br>|  | 299 | &nbsp;&nbsp; 300372 |
| &nbsp;&nbsp;&nbsp; Novelis Holdings, Inc., 2025 Term Loan B, (3-mo. CME <br> Term SOFR at 0.00% Floor + 1.75%), 5.75%, <br> 03/11/32<br>|  | 2216 | &nbsp;&nbsp; 2218704 |
|  |  |  | &nbsp;&nbsp; 2631491 |
| **Oil, Gas & Consumable Fuels — 1.6%** | **Oil, Gas & Consumable Fuels — 1.6%** | **Oil, Gas & Consumable Fuels — 1.6%** | **Oil, Gas & Consumable Fuels — 1.6%** |
| Buckeye Partners LP |  |  |  |
| &nbsp;&nbsp;&nbsp; 2025 Term Loan B, 0.00%, 09/24/32 |  | 130 | &nbsp;&nbsp; 130452 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B2, (1-mo. CME Term SOFR at <br> 0.00% Floor + 1.75%), 5.91%, 11/22/30<br>|  | 348 | &nbsp;&nbsp; 348375 |
| &nbsp;&nbsp;&nbsp; Colossus Acquireco LLC, Term Loan B, (3-mo. SOFR + <br> 1.75%), 5.87%, 07/30/32<br>|  | 1591 | &nbsp;&nbsp; 1580802 |
| &nbsp;&nbsp;&nbsp; EG America LLC, 2025 USD Repriced Term Loan, (3-mo. <br> CME Term SOFR at 0.00% Floor + 3.50%), 7.70%, <br> 02/07/28<br>|  | 326 | &nbsp;&nbsp; 327227 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Oil, Gas & Consumable Fuels (continued)** | **Oil, Gas & Consumable Fuels (continued)** | **Oil, Gas & Consumable Fuels (continued)** | **Oil, Gas & Consumable Fuels (continued)** |
| &nbsp;&nbsp;&nbsp; Freeport LNG Investments LLLP, 2025 Term Loan B, <br> (3-mo. CME Term SOFR at 0.50% Floor + 3.25%), <br> 7.58%, 12/21/28<br>| USD | 2017 | &nbsp;&nbsp; $2015450 |
| &nbsp;&nbsp;&nbsp; GIP Pilot Acquisition Partners LP, 2025 Term Loan B, <br> (3-mo. CME Term SOFR at 0.00% Floor + 2.00%), <br> 6.29%, 10/04/30<br>|  | 241 | &nbsp;&nbsp; 240196 |
| &nbsp;&nbsp;&nbsp; Hilcorp Energy I LP, Term Loan B, (1-mo. CME Term <br> SOFR at 0.00% Floor + 2.00%), 6.15%, 02/11/30<br>|  | 689 | &nbsp;&nbsp; 688540 |
| &nbsp;&nbsp;&nbsp; M6 ETX Holdings II Midco LLC, 2025 Term Loan B, <br> (Prime + 2.00%), 9.25%, 04/01/32<br>|  | 540 | &nbsp;&nbsp; 539648 |
| &nbsp;&nbsp;&nbsp; Murphy USA, Inc., Term Loan B, (1-mo. CME Term <br> SOFR at 0.50% Floor + 1.75%), 6.03%, 04/07/32<br>|  | 313 | &nbsp;&nbsp; 315282 |
| &nbsp;&nbsp;&nbsp; Oryx Midstream Services Permian Basin LLC, 2025 Term <br> Loan B, (1-mo. CME Term SOFR at 0.50% Floor + <br> 2.25%), 6.42%, 10/05/28<br>|  | 2614 | &nbsp;&nbsp; 2611982 |
| &nbsp;&nbsp;&nbsp; Stakeholder Midstream LLC, Term Loan, (3-mo. CME <br> Term SOFR at 0.00% Floor + 4.00%), 8.04%, <br> 01/01/31<br>|  | 625 | &nbsp;&nbsp; 626214 |
| &nbsp;&nbsp;&nbsp; Whitewater Matterhorn Holdings LLC, 2025 Term Loan <br> B, (3-mo. CME Term SOFR at 0.00% Floor + 2.25%), <br> 6.25%, 06/16/32<br>|  | 248 | &nbsp;&nbsp; 247730 |
|  |  |  | &nbsp;&nbsp; 9671898 |
| **Passenger Airlines — 1.0%** | **Passenger Airlines — 1.0%** | **Passenger Airlines — 1.0%** | **Passenger Airlines — 1.0%** |
| &nbsp;&nbsp;&nbsp; AAdvantage Loyalty IP Ltd., 2025 Term Loan B, (3-mo. <br> CME Term SOFR at 0.00% Floor + 3.25%), 7.58%, <br> 05/28/32<br>|  | 629 | &nbsp;&nbsp; 631783 |
| &nbsp;&nbsp;&nbsp; Air Canada, 2024 Term Loan B, (1-mo. CME Term SOFR <br> at 0.00% Floor + 2.00%), 6.17%, 03/21/31<br>|  | 1459 | &nbsp;&nbsp; 1456905 |
| American Airlines, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series AA, 2017 1st Lien Term Loan, (6-mo. CME <br> Term SOFR at 0.00% Floor + 1.85%), 5.98%, <br> 01/29/27<br>|  | 143 | &nbsp;&nbsp; 142260 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 1st Lien Term Loan, (6-mo. CME Term SOFR at <br> 0.00% Floor + 2.25%), 6.26%, 06/04/29<br>|  | 1262 | &nbsp;&nbsp; 1259605 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan, (3-mo. CME Term SOFR at 0.00% <br> Floor + 2.25%), 6.58%, 04/20/28<br>|  | 814 | &nbsp;&nbsp; 812129 |
| &nbsp;&nbsp;&nbsp; JetBlue Airways Corp., 2024 Term Loan B, (3-mo. CME <br> Term SOFR at 0.50% Floor + 4.75%), 8.75%, <br> 08/27/29<br>|  | 934 | &nbsp;&nbsp; 894172 |
| &nbsp;&nbsp;&nbsp; United Airlines, Inc., 2024 1st Lien Term Loan B, (3-mo. <br> CME Term SOFR at 0.00% Floor + 2.00%), 6.20%, <br> 02/22/31<br>|  | 1205 | &nbsp;&nbsp; 1207514 |
|  |  |  | &nbsp;&nbsp; 6404368 |
| **Personal Care Products — 0.3%** | **Personal Care Products — 0.3%** | **Personal Care Products — 0.3%** | **Personal Care Products — 0.3%** |
| &nbsp;&nbsp;&nbsp; ACP Tara Holdings, Inc., 2025 Term Loan B, <br> 09/17/32<sup>(d)(m)</sup><br>|  | 257 | &nbsp;&nbsp; 257000 |
| &nbsp;&nbsp;&nbsp; Opal U.S. LLC, USD Term Loan B, (3-mo. CME Term <br> SOFR at 0.00% Floor + 3.25%), 7.25%, 04/28/32<br>|  | 1775 | &nbsp;&nbsp; 1778550 |
|  |  |  | &nbsp;&nbsp; 2035550 |
| **Pharmaceuticals — 1.5%** | **Pharmaceuticals — 1.5%** | **Pharmaceuticals — 1.5%** | **Pharmaceuticals — 1.5%** |
| &nbsp;&nbsp;&nbsp; Amneal Pharmaceuticals LLC, 2025 Term Loan B, (1-mo. <br> CME Term SOFR at 0.50% Floor + 3.50%), 7.66%, <br> 08/01/32<br>|  | 2052 | &nbsp;&nbsp; 2048573 |
| &nbsp;&nbsp;&nbsp; Elanco Animal Health, Inc., Term Loan B, (1-mo. CME <br> Term SOFR + 1.85%), 6.13%, 08/01/27<br>|  | 751 | &nbsp;&nbsp; 749959 |
| &nbsp;&nbsp;&nbsp; Endo Finance Holdings, Inc., 2024 1st Lien Term Loan, <br> 04/23/31<sup>(m)</sup><br>|  | 645 | &nbsp;&nbsp; 645942 |
| &nbsp;&nbsp;&nbsp; Gainwell Acquisition Corp., Term Loan B, (3-mo. CME <br> Term SOFR at 0.75% Floor + 4.10%), 8.10%, <br> 10/01/27<br>|  | 818 | &nbsp;&nbsp; 803860 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Debt Strategies Fund, Inc. (DSU)** 

**(Percentages shown are based on Net Assets)**

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** |
| &nbsp;&nbsp;&nbsp; Jazz Financing Lux SARL, 2024 1st Lien Term Loan B2, <br> (1-mo. CME Term SOFR + 2.25%), 6.41%, 05/05/28<br>| USD | 1591 | &nbsp;&nbsp; $1591976 |
| &nbsp;&nbsp;&nbsp; Option Care Health, Inc., 2025 Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 1.75%), 5.89%, <br> 09/16/32<br>|  | 1533 | &nbsp;&nbsp; 1530124 |
| &nbsp;&nbsp;&nbsp; Organon & Co., 2024 USD Term Loan, (1-mo. CME Term <br> SOFR at 0.50% Floor + 2.25%), 6.41%, 05/19/31<br>|  | 467 | &nbsp;&nbsp; 454556 |
| &nbsp;&nbsp;&nbsp; Perrigo Investments LLC, 2024 Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 2.00%), 6.16%, <br> 04/20/29<br>|  | 897 | &nbsp;&nbsp; 895233 |
| &nbsp;&nbsp;&nbsp; PRA Health Sciences, Inc., 2024 US Term Loan B, (3-<br> mo. CME Term SOFR at 0.50% Floor + 2.00%), <br> 6.00%, 07/03/28<br>|  | 122 | &nbsp;&nbsp; 121650 |
| &nbsp;&nbsp;&nbsp; Vizient, Inc., 2024 Term Loan B, (1-mo. CME Term SOFR <br> at 0.50% Floor + 1.75%), 5.91%, 08/01/31<br>|  | 316 | &nbsp;&nbsp; 316827 |
|  |  |  | &nbsp;&nbsp; 9158700 |
| **Professional Services — 0.0%** | **Professional Services — 0.0%** | **Professional Services — 0.0%** | **Professional Services — 0.0%** |
| Deep Blue Operating I LLC, Term Loan, 09/17/32<sup>(m)</sup> |  | 321 | &nbsp;&nbsp; 321000 |
| **Real Estate Management & Development — 0.4%** | **Real Estate Management & Development — 0.4%** | **Real Estate Management & Development — 0.4%** | **Real Estate Management & Development — 0.4%** |
| CoreLogic, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2nd Lien Term Loan, (1-mo. CME Term SOFR + <br> 6.61%), 10.78%, 06/04/29<br>|  | 488 | &nbsp;&nbsp; 484189 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + <br> 3.61%), 7.78%, 06/02/28<br>|  | 1625 | &nbsp;&nbsp; 1623276 |
| &nbsp;&nbsp;&nbsp; Cushman & Wakefield U.S. Borrower LLC, 2025 Term <br> Loan B3, (1-mo. CME Term SOFR at 0.50% Floor + <br> 2.75%), 6.91%, 01/31/30<br>|  | 550 | &nbsp;&nbsp; 551532 |
|  |  |  | &nbsp;&nbsp; 2658997 |
| **Semiconductors & Semiconductor Equipment — 0.3%** | **Semiconductors & Semiconductor Equipment — 0.3%** | **Semiconductors & Semiconductor Equipment — 0.3%** | **Semiconductors & Semiconductor Equipment — 0.3%** |
| &nbsp;&nbsp;&nbsp; Entegris, Inc., 2023 Term Loan B, (1-mo. CME Term <br> SOFR at 0.00% Floor + 1.75%), 5.79%, 07/06/29<br>|  | 672 | &nbsp;&nbsp; 675779 |
| &nbsp;&nbsp;&nbsp; MKS Instruments, Inc., 2025 USD Repriced Term Loan, <br> (1-mo. CME Term SOFR at 0.50% Floor + 2.00%), <br> 6.17%, 08/17/29<br>|  | 1469 | &nbsp;&nbsp; 1467336 |
|  |  |  | &nbsp;&nbsp; 2143115 |
| **Software — 10.4%** | **Software — 10.4%** | **Software — 10.4%** | **Software — 10.4%** |
| &nbsp;&nbsp;&nbsp; Applied Systems, Inc., 2024 1st Lien Term Loan, (3-mo. <br> CME Term SOFR at 0.00% Floor + 2.25%), 6.25%, <br> 02/24/31<br>|  | 3402 | &nbsp;&nbsp; 3402562 |
| &nbsp;&nbsp;&nbsp; AthenaHealth Group, Inc., 2022 Term Loan B, (1-mo. <br> CME Term SOFR at 0.50% Floor + 2.75%), 6.91%, <br> 02/15/29<br>|  | 4092 | &nbsp;&nbsp; 4082310 |
| &nbsp;&nbsp;&nbsp; BCPE Pequod Buyer, Inc., USD Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 3.00%), 7.16%, <br> 11/25/31<br>|  | 1213 | &nbsp;&nbsp; 1214476 |
| &nbsp;&nbsp;&nbsp; Boxer Parent Co., Inc., 2025 USD Term Loan B, (3-mo. <br> CME Term SOFR at 0.00% Floor + 3.00%), 7.20%, <br> 07/30/31<br>|  | 3027 | &nbsp;&nbsp; 3020004 |
| &nbsp;&nbsp;&nbsp; CCC Intelligent Solutions, Inc., Term Loan, (1-mo. CME <br> Term SOFR + 2.00%), 6.16%, 01/23/32<br>|  | 2280 | &nbsp;&nbsp; 2276939 |
| &nbsp;&nbsp;&nbsp; Central Parent LLC, 2024 Term Loan B, (3-mo. CME <br> Term SOFR at 0.00% Floor + 3.25%), 7.25%, <br> 07/06/29<br>|  | 2763 | &nbsp;&nbsp; 2383445 |
| &nbsp;&nbsp;&nbsp; Clearwater Analytics LLC, 2025 Term Loan B, (6-mo. <br> CME Term SOFR at 0.00% Floor + 2.25%), 6.46%, <br> 04/21/32<br>|  | 961 | &nbsp;&nbsp; 961000 |
| Cloud Software Group, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B (2031), (3-mo. CME Term SOFR at <br> 0.00% Floor + 3.25%), 7.25%, 03/21/31<br>|  | 2713 | &nbsp;&nbsp; 2721893 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Software (continued)** | **Software (continued)** | **Software (continued)** | **Software (continued)** |
| Cloud Software Group, Inc. (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B (2032), (3-mo. CME Term SOFR at <br> 0.00% Floor + 3.25%), 7.25%, 08/13/32<br>| USD | 3573 | &nbsp;&nbsp; $3582782 |
| &nbsp;&nbsp;&nbsp; Cloudera, Inc., 2021 Term Loan, (1-mo. CME Term <br> SOFR at 0.50% Floor + 3.85%), 8.01%, 10/08/28<br>|  | 647 | &nbsp;&nbsp; 635785 |
| &nbsp;&nbsp;&nbsp; Cotiviti, Inc., 2024 Term Loan, (1-mo. CME Term SOFR + <br> 2.75%), 7.03%, 05/01/31<br>|  | 2000 | &nbsp;&nbsp; 1962903 |
| &nbsp;&nbsp;&nbsp; DS Admiral Bidco LLC, 2024 Term Loan B, (1-mo. CME <br> Term SOFR + 4.25%), 8.41%, 06/26/31<br>|  | 640 | &nbsp;&nbsp; 638792 |
| Ellucian Holdings, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 1st Lien Term Loan B, (1-mo. CME Term SOFR <br> at 0.50% Floor + 2.75%), 6.91%, 10/09/29<br>|  | 2862 | &nbsp;&nbsp; 2859952 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 2nd Lien Term Loan, (1-mo. CME Term SOFR at <br> 0.50% Floor + 4.75%), 8.91%, 11/22/32<br>|  | 513 | &nbsp;&nbsp; 523686 |
| &nbsp;&nbsp;&nbsp; Epicor Software Corp., 2024 Term Loan F, (1-mo. CME <br> Term SOFR at 0.75% Floor + 2.50%), 6.66%, <br> 05/30/31<br>|  | 2615 | &nbsp;&nbsp; 2616993 |
| &nbsp;&nbsp;&nbsp; Genesys Cloud Services, Inc., 2025 USD Term Loan B, <br> (1-mo. CME Term SOFR at 0.00% Floor + 2.50%), <br> 6.66%, 01/30/32<br>|  | 5145 | &nbsp;&nbsp; 5107404 |
| &nbsp;&nbsp;&nbsp; Informatica LLC, 2024 Term Loan B, (1-mo. CME Term <br> SOFR at 0.00% Floor + 2.25%), 6.41%, 10/27/28<br>|  | 1410 | &nbsp;&nbsp; 1412087 |
| &nbsp;&nbsp;&nbsp; Kaseya, Inc., 2025 1st Lien Term Loan B, (1-mo. CME <br> Term SOFR at 0.00% Floor + 3.25%), 7.41%, <br> 03/20/32<br>|  | 2732 | &nbsp;&nbsp; 2734247 |
| Mitchell International, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 1st Lien Term Loan, (1-mo. CME Term SOFR at <br> 0.50% Floor + 3.25%), 7.41%, 06/17/31<br>|  | 2200 | &nbsp;&nbsp; 2196821 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 2nd Lien Term Loan, (1-mo. CME Term SOFR + <br> 5.25%), 9.41%, 06/17/32<br>|  | 474 | &nbsp;&nbsp; 467838 |
| &nbsp;&nbsp;&nbsp; Modena Buyer LLC, Term Loan, (3-mo. CME Term <br> SOFR at 0.00% Floor + 4.50%), 8.81%, 07/01/31<br>|  | 607 | &nbsp;&nbsp; 598799 |
| &nbsp;&nbsp;&nbsp; Planview Parent, Inc., 2024 1st Lien Term Loan, (3-mo. <br> CME Term SOFR at 0.00% Floor + 3.50%), 7.50%, <br> 12/17/27<br>|  | 299 | &nbsp;&nbsp; 293882 |
| &nbsp;&nbsp;&nbsp; PointClickCare Technologies, Inc., 2025 Term Loan B, <br> (3-mo. CME Term SOFR at 0.00% Floor + 2.75%), <br> 6.75%, 11/03/31<br>|  | 711 | &nbsp;&nbsp; 711275 |
| &nbsp;&nbsp;&nbsp; Project Boost Purchaser LLC, 2025 Refinancing Term <br> Loan, (3-mo. CME Term SOFR at 0.00% Floor + <br> 2.75%), 7.07%, 07/16/31<br>|  | 2205 | &nbsp;&nbsp; 2198310 |
| &nbsp;&nbsp;&nbsp; RealPage, Inc., 1st Lien Term Loan, (3-mo. CME Term <br> SOFR + 3.26%), 7.26%, 04/24/28<br>|  | 1641 | &nbsp;&nbsp; 1636486 |
| &nbsp;&nbsp;&nbsp; SS&C Technologies, Inc., 2024 Term Loan B8, (1-mo. <br> CME Term SOFR at 0.00% Floor + 2.00%), 6.16%, <br> 05/09/31<br>|  | 2632 | &nbsp;&nbsp; 2637395 |
| &nbsp;&nbsp;&nbsp; UKG, Inc., 2024 Term Loan B, (3-mo. CME Term SOFR <br> at 0.00% Floor + 2.50%), 6.81%, 02/10/31<br>|  | 3930 | &nbsp;&nbsp; 3925089 |
| &nbsp;&nbsp;&nbsp; VS Buyer LLC, 2025 Term Loan B, (3-mo. CME Term <br> SOFR at 0.00% Floor + 2.25%), 6.56%, 04/12/31<br>|  | 2364 | &nbsp;&nbsp; 2357641 |
| Waystar Technologies, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 2025 Add-on Term Loan B, 10/22/29<sup>(m)</sup> |  | 468 | &nbsp;&nbsp; 468028 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, (1-mo. CME Term SOFR at 0.00% <br> Floor + 2.00%), 6.16%, 10/22/29<br>|  | 1331 | &nbsp;&nbsp; 1330663 |
| &nbsp;&nbsp;&nbsp; X.AI Corp., Term Loan, (6-mo. CME Term SOFR at <br> 0.00% Floor + 7.25%), 11.12%, 06/28/30<br>|  | 1006 | &nbsp;&nbsp; 971750 |

---

------

Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Debt Strategies Fund, Inc. (DSU)** 

**(Percentages shown are based on Net Assets)**

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Software (continued)** | **Software (continued)** | **Software (continued)** | **Software (continued)** |
| Zelis Payments Buyer, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5th Amendment Term Loan, (1-mo. CME Term SOFR <br> at 0.00% Floor + 3.25%), 7.41%, 11/26/31<br>| USD | 1723 | &nbsp;&nbsp; $1722478 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, (1-mo. CME Term SOFR + 2.75%), <br> 6.91%, 09/28/29<br>|  | 977 | &nbsp;&nbsp; 973942 |
|  |  |  | &nbsp;&nbsp; 64627657 |
| **Specialty Retail — 0.3%** | **Specialty Retail — 0.3%** | **Specialty Retail — 0.3%** | **Specialty Retail — 0.3%** |
| &nbsp;&nbsp;&nbsp; LS Group OpCo Acquistion LLC, 2025 Term Loan B, <br> (1-mo. CME Term SOFR at 0.00% Floor + 2.50%), <br> 6.70%, 04/23/31<br>|  | 788 | &nbsp;&nbsp; 786037 |
| Peer Holding III BV, 1st Lien Term Loan B, 09/25/32<sup>(m)</sup> |  | 335 | &nbsp;&nbsp; 335000 |
| &nbsp;&nbsp;&nbsp; Restoration Hardware, Inc., 2022 Incremental Term <br> Loan, (1-mo. CME Term SOFR at 0.50% Floor + <br> 3.35%), 7.51%, 10/20/28<br>|  | 280 | &nbsp;&nbsp; 273920 |
| &nbsp;&nbsp;&nbsp; Serta Simmons Bedding LLC, 2023 New Term Loan, <br> (3-mo. CME Term SOFR + 7.61%), 11.62%, 06/29/28<br>|  | 440 | &nbsp;&nbsp; 410564 |
|  |  |  | &nbsp;&nbsp; 1805521 |
| **Technology Hardware, Storage & Peripherals — 0.3%** | **Technology Hardware, Storage & Peripherals — 0.3%** | **Technology Hardware, Storage & Peripherals — 0.3%** | **Technology Hardware, Storage & Peripherals — 0.3%** |
| Cubic Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Second Out Term Loan B, (3-mo. CME Term <br> SOFR at 0.75% Floor + 4.51%), 8.83%, 05/25/29<br>|  | 3017 | &nbsp;&nbsp; 1718973 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Second Out Term Loan C, (3-mo. CME Term <br> SOFR at 0.75% Floor + 4.51%), 8.57%, 05/25/29<br>|  | 432 | &nbsp;&nbsp; 246145 |
|  |  |  | &nbsp;&nbsp; 1965118 |
| **Textiles, Apparel & Luxury Goods — 0.4%** | **Textiles, Apparel & Luxury Goods — 0.4%** | **Textiles, Apparel & Luxury Goods — 0.4%** | **Textiles, Apparel & Luxury Goods — 0.4%** |
| ABG Intermediate Holdings 2 LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 1st Lien Term Loan B, (1-mo. CME Term SOFR <br> at 0.00% Floor + 2.25%), 6.41%, 12/21/28<br>|  | 1256 | &nbsp;&nbsp; 1252885 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Delayed Draw Term Loan, (1-mo. CME Term <br> SOFR at 0.00% Floor + 2.25%), 6.41%, 02/13/32<br>|  | 631 | &nbsp;&nbsp; 629852 |
| &nbsp;&nbsp;&nbsp; Beach Acquisition Bidco LLC, USD Term Loan B, (3-mo. <br> CME Term SOFR at 0.00% Floor + 3.25%), 7.31%, <br> 09/12/32<br>|  | 301 | &nbsp;&nbsp; 302255 |
|  |  |  | &nbsp;&nbsp; 2184992 |
| **Transportation Infrastructure — 0.2%** | **Transportation Infrastructure — 0.2%** | **Transportation Infrastructure — 0.2%** | **Transportation Infrastructure — 0.2%** |
| &nbsp;&nbsp;&nbsp; OLA Netherlands BV, Term Loan, (1-mo. CME Term <br> SOFR at 0.75% Floor + 6.35%), 10.51%, 12/15/26<br>|  | 719 | &nbsp;&nbsp; 713501 |
| &nbsp;&nbsp;&nbsp; SIRVA Worldwide, Inc., 2024 Term Loan, (3-mo. CME <br> Term SOFR at 2.00% Floor + 8.00%), 12.20%, <br> 08/20/29<br>|  | 1059 | &nbsp;&nbsp; 402423 |
|  |  |  | &nbsp;&nbsp; 1115924 |
| **Wireless Telecommunication Services — 0.8%** | **Wireless Telecommunication Services — 0.8%** | **Wireless Telecommunication Services — 0.8%** | **Wireless Telecommunication Services — 0.8%** |
| &nbsp;&nbsp;&nbsp; Altice France SA, 2023 USD Term Loan B14, (3-mo. <br> CME Term SOFR at 0.00% Floor + 5.50%), 9.82%, <br> 08/15/28<sup>(d)</sup><br>|  | 2042 | &nbsp;&nbsp; 1970602 |
| &nbsp;&nbsp;&nbsp; Digicel International Finance Ltd., 2025 Term Loan B, <br> (3-mo. CME Term SOFR at 0.00% Floor + 5.25%), <br> 9.49%, 08/06/32<br>|  | 689 | &nbsp;&nbsp; 688139 |
| &nbsp;&nbsp;&nbsp; GOGO Intermediate Holdings LLC, Term Loan B, (1-mo. <br> CME Term SOFR + 3.86%), 8.03%, 04/30/28<br>|  | 812 | &nbsp;&nbsp; 804650 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Wireless Telecommunication Services (continued)** | **Wireless Telecommunication Services (continued)** | **Wireless Telecommunication Services (continued)** | **Wireless Telecommunication Services (continued)** |
| &nbsp;&nbsp;&nbsp; Level 3 Financing, Inc., 2025 Repriced Term Loan B4, <br> 03/29/32<sup>(m)</sup><br>| USD | 459 | &nbsp;&nbsp; $459000 |
| &nbsp;&nbsp;&nbsp; Windstream Services, LLC, 2025 Term Loan B, <br> 09/24/32<sup>(d)(m)</sup><br>|  | 1289 | &nbsp;&nbsp; 1276110 |
|  |  |  | &nbsp;&nbsp; 5198501 |
| **Total Floating Rate Loan Interests — 88.2%** <br>**(Cost: $552,673,916)** | **Total Floating Rate Loan Interests — 88.2%** <br>**(Cost: $552,673,916)** | **Total Floating Rate Loan Interests — 88.2%** <br>**(Cost: $552,673,916)** | &nbsp;&nbsp; 547225980 |

---

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

---

| | | |
|:---|:---|:---|
|  | <br>*Shares*<br>|  |
| **Investment Companies** | **Investment Companies** | **Investment Companies** |
| **Equity Funds — 2.3%** | **Equity Funds — 2.3%** |  |
| Hearthside Equity | 8393 | &nbsp;&nbsp; 160969 |
| Janus Henderson AAA CLO ETF | 135000 | &nbsp;&nbsp; 6855300 |
| SPDR Blackstone Senior Loan ETF | 175000 | &nbsp;&nbsp; 7276500 |
|  |  | &nbsp;&nbsp; 14292769 |
| **Fixed Income Funds — 5.2%** | **Fixed Income Funds — 5.2%** |  |
| Invesco Senior Loan ETF | 1021200 | &nbsp;&nbsp; 21373716 |
| iShares Broad USD High Yield Corporate Bond ETF<sup>(n)</sup> | 285000 | &nbsp;&nbsp; 10767300 |
|  |  | &nbsp;&nbsp; 32141016 |
| **Total Investment Companies — 7.5%** <br>**(Cost: $46,306,429)** | **Total Investment Companies — 7.5%** <br>**(Cost: $46,306,429)** | &nbsp;&nbsp; 46433785 |

---

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

---

| | | | |
|:---|:---|:---|:---|
|  |  | *Benefical* <br>*Interest (000)*<br>|  |
| **Other Interests** | **Other Interests** | **Other Interests** | **Other Interests** |
| **Capital Markets — 0.0%** | **Capital Markets — 0.0%** | **Capital Markets — 0.0%** |  |
| Millennium Lender Claim Trust<sup>(d)(o)</sup> | USD | 1156 | &nbsp;&nbsp; — |
| **Industrial Conglomerates — 0.0%** | **Industrial Conglomerates — 0.0%** | **Industrial Conglomerates — 0.0%** |  |
| Millennium Corp.<sup>(d)(o)</sup> |  | 1084 | &nbsp;&nbsp; — |
| **Total Other Interests — 0.0%** <br>**(Cost: $—)** | **Total Other Interests — 0.0%** <br>**(Cost: $—)** | **Total Other Interests — 0.0%** <br>**(Cost: $—)** | &nbsp;&nbsp; — |

---

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

---

| | | | |
|:---|:---|:---|:---|
|  |  | *Par* <br>*(000)*<br>|  |
| **Preferred Securities** | **Preferred Securities** | **Preferred Securities** | **Preferred Securities** |
| **Capital Trusts — 0.7%**<sup>(a)</sup> | **Capital Trusts — 0.7%**<sup>(a)</sup> | **Capital Trusts — 0.7%**<sup>(a)</sup> | **Capital Trusts — 0.7%**<sup>(a)</sup> |
| **Banks**<sup>(k)</sup> **— 0.2%** | **Banks**<sup>(k)</sup> **— 0.2%** | **Banks**<sup>(k)</sup> **— 0.2%** |  |
| Bank of America Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.25% | USD | 155 | &nbsp;&nbsp; 156980 |
| &nbsp;&nbsp;&nbsp; 6.63% |  | 365 | &nbsp;&nbsp; 379779 |
| Barclays PLC |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.38% |  | 200 | &nbsp;&nbsp; 191866 |
| &nbsp;&nbsp;&nbsp; 9.63% |  | 200 | &nbsp;&nbsp; 227052 |
| Citigroup, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.88%, 12/31/99 |  | 60 | &nbsp;&nbsp; 61834 |
| &nbsp;&nbsp;&nbsp; Series CC, 7.13% |  | 180 | &nbsp;&nbsp; 185962 |
| &nbsp;&nbsp;&nbsp; Series DD, 7.00% |  | 45 | &nbsp;&nbsp; 47797 |
| &nbsp;&nbsp;&nbsp; Series EE, 6.75% |  | 100 | &nbsp;&nbsp; 101527 |
| &nbsp;&nbsp;&nbsp; Series FF, 6.95% |  | 40 | &nbsp;&nbsp; 41080 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Debt Strategies Fund, Inc. (DSU)** 

**(Percentages shown are based on Net Assets)**

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |  |
| PNC Financial Services Group, Inc., Series W, 6.25% | USD | 30 | &nbsp;&nbsp; $30783 |
| Wells Fargo & Co., 6.85% |  | 44 | &nbsp;&nbsp; 46239 |
|  |  |  | &nbsp;&nbsp; 1470899 |
| **Capital Markets — 0.0%** | **Capital Markets — 0.0%** | **Capital Markets — 0.0%** |  |
| Goldman Sachs Group, Inc., Series Y, 6.13%<sup>(k)</sup> |  | 205 | &nbsp;&nbsp; 208057 |
| **Electric Utilities — 0.0%** | **Electric Utilities — 0.0%** | **Electric Utilities — 0.0%** |  |
| AES Corp., 7.60%, 01/15/55 |  | 71 | &nbsp;&nbsp; 73546 |
| CenterPoint Energy, Inc., Series B, 6.85%, 02/15/55 |  | 19 | &nbsp;&nbsp; 20153 |
| Dominion Energy, Inc., 6.63%, 05/15/55 |  | 15 | &nbsp;&nbsp; 15524 |
| Duke Energy Corp., 6.45%, 09/01/54 |  | 33 | &nbsp;&nbsp; 34857 |
| NextEra Energy Capital Holdings, Inc., 6.38%, 08/15/55 |  | 55 | &nbsp;&nbsp; 57110 |
|  |  |  | &nbsp;&nbsp; 201190 |
| **Financial Services — 0.2%** | **Financial Services — 0.2%** | **Financial Services — 0.2%** |  |
| Apollo Global Management, Inc., 6.00%, 12/15/54 |  | 84 | &nbsp;&nbsp; 83446 |
| Brookfield Finance, Inc., 6.30%, 01/15/55 |  | 125 | &nbsp;&nbsp; 123933 |
| Corebridge Financial, Inc., 6.38%, 09/15/54 |  | 59 | &nbsp;&nbsp; 60558 |
| Goldman Sachs Group, Inc., 6.85%<sup>(k)</sup> |  | 85 | &nbsp;&nbsp; 88292 |
| UBS Group AG<sup>(b)(k)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 7.00% |  | 200 | &nbsp;&nbsp; 203886 |
| &nbsp;&nbsp;&nbsp; 7.75% |  | 200 | &nbsp;&nbsp; 215842 |
| &nbsp;&nbsp;&nbsp; Series NC10, 9.25% |  | 200 | &nbsp;&nbsp; 238173 |
|  |  |  | &nbsp;&nbsp; 1014130 |
| **Independent Power and Renewable Electricity Producers**<sup>(b)(k)</sup> **— 0.1%** | **Independent Power and Renewable Electricity Producers**<sup>(b)(k)</sup> **— 0.1%** | **Independent Power and Renewable Electricity Producers**<sup>(b)(k)</sup> **— 0.1%** |  |
| NRG Energy, Inc., 10.25% |  | 145 | &nbsp;&nbsp; 158103 |
| Vistra Corp., 7.00% |  | 228 | &nbsp;&nbsp; 231482 |
|  |  |  | &nbsp;&nbsp; 389585 |
| **Multi-Utilities — 0.0%** | **Multi-Utilities — 0.0%** | **Multi-Utilities — 0.0%** |  |
| AltaGas Ltd., 7.20%, 10/15/54<sup>(b)</sup> |  | 52 | &nbsp;&nbsp; 53790 |
| **Oil, Gas & Consumable Fuels**<sup>(k)</sup> **— 0.2%** | **Oil, Gas & Consumable Fuels**<sup>(k)</sup> **— 0.2%** | **Oil, Gas & Consumable Fuels**<sup>(k)</sup> **— 0.2%** |  |
| Energy Transfer LP, Series G, 7.13% |  | 62 | &nbsp;&nbsp; 64064 |
| Sunoco LP, 7.88%<sup>(b)</sup> |  | 480 | &nbsp;&nbsp; 487541 |
| Venture Global LNG, Inc., 9.00%<sup>(b)</sup> |  | 715 | &nbsp;&nbsp; 708622 |
|  |  |  | &nbsp;&nbsp; 1260227 |
|  |  |  | &nbsp;&nbsp; 4597878 |

---

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

---

| | | |
|:---|:---|:---|
|  | <br>*Shares*<br>|  |
| **Preferred Stocks — 0.0%**<sup>(c)</sup> | **Preferred Stocks — 0.0%**<sup>(c)</sup> | **Preferred Stocks — 0.0%**<sup>(c)</sup> |
| **Ground Transportation — 0.0%** | **Ground Transportation — 0.0%** |  |
| Sirva BGRS Holdings, Inc., 07/21/30 | 382 | &nbsp;&nbsp; 66794 |
| **IT Services**<sup>(d)</sup> **— 0.0%** | **IT Services**<sup>(d)</sup> **— 0.0%** |  |
| Veritas Kapital Assurance PLC |  |  |
| &nbsp;&nbsp;&nbsp; Series G | 1882 | &nbsp;&nbsp; 42821 |
| &nbsp;&nbsp;&nbsp; Series G-1 | 1301 | &nbsp;&nbsp; 29598 |
|  |  | &nbsp;&nbsp; 72419 |
|  |  | &nbsp;&nbsp; 139213 |
| **Total Preferred Securities — 0.7%** <br>**(Cost: $4,796,542)** | **Total Preferred Securities — 0.7%** <br>**(Cost: $4,796,542)** | &nbsp;&nbsp; 4737091 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Warrants** | **Warrants** | **Warrants** |
| **Energy Equipment & Services — 0.0%** | **Energy Equipment & Services — 0.0%** |  |
| Turbo Cayman Ltd., (Strike Price GBP 0.01)<sup>(c)(d)</sup> | 1 | &nbsp;&nbsp; $— |
| **Financial Services — 0.0%** | **Financial Services — 0.0%** |  |
| &nbsp;&nbsp;&nbsp; Service King (Carnelian Point), (Exercisable 01/14/23, <br> 1 Share for 1 Warrant, Expires 06/30/27, Strike Price <br> USD 10.00)<sup>(c)</sup><br>| 2435 | &nbsp;&nbsp; — |
| **Total Warrants — 0.0%** <br>**(Cost: $—)** | **Total Warrants — 0.0%** <br>**(Cost: $—)** | &nbsp;&nbsp; — |
| **Total Investments — 117.9%** <br>**(Cost: $744,979,658)** | **Total Investments — 117.9%** <br>**(Cost: $744,979,658)** | &nbsp;&nbsp; 731800234 |
| **Liabilities in Excess of Other Assets — (17.9)%** | **Liabilities in Excess of Other Assets — (17.9)%** | &nbsp;&nbsp; (111259124)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | &nbsp;&nbsp; $620541110 |

---

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

<sup>(a)</sup> Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available. 

<sup>(b)</sup> Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. 

<sup>(c)</sup> Non-income producing security.

<sup>(d)</sup> Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. 

<sup>(e)</sup> Restricted security as to resale, excluding 144A securities. The Fund held restricted securities with a current value of $265,230, representing less than 0.05% of its net assets as of period end, and an original cost of $31,736. 

<sup>(f)</sup> When-issued security.

<sup>(g)</sup> Payment-in-kind security which may pay interest/dividends in additional par/shares and/or in cash. Rates shown are the current rate and possible payment rates. 

<sup>(h)</sup> Issuer filed for bankruptcy and/or is in default.

<sup>(i)</sup> This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933. 

<sup>(j)</sup> Convertible security.

<sup>(k)</sup> Perpetual security with no stated maturity date.

<sup>(l)</sup> Zero-coupon bond.

<sup>(m)</sup> Represents an unsettled loan commitment at period end. Certain details associated with this purchase are not known prior to the settlement date, including coupon rate. 

<sup>(n)</sup> Affiliate of the Fund.

<sup>(o)</sup> Other interests represent beneficial interests in liquidation trusts and other reorganization or private entities. 

For purposes of this report, industry and sector sub-classifications may differ from those utilized by the Fund for compliance purposes.

------

Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Debt Strategies Fund, Inc. (DSU)** 

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the period ended September 30, 2025 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*12/31/24*<br>| *Purchases* <br>*at Cost*<br>| *Proceeds* <br>*from Sales*<br>| *Net* <br>*Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*09/30/25*<br>| *Shares* <br>*Held at* <br>*09/30/25*<br>| *Income* | *Capital Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Liquidity Funds, T-Fund, Institutional Shares<sup>(a)</sup> | &nbsp;&nbsp; $— | $— <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— | $— | $— | $— |  | $55532 | $— |
| iShares Broad USD High Yield Corporate Bond ETF | &nbsp;&nbsp; — | 10581811 | &nbsp;&nbsp; — |  | 185489 | 10767300 | 285000 | 151189 |  |
|  |  |  |  | $— | $185489 | $10767300 |  | $206721 | $— |

---

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

<sup>(a)</sup> As of period end, the entity is no longer held.

<sup>(b)</sup> Represents net amount purchased (sold).

**Derivative Financial Instruments Outstanding as of Period End**

**Forward Foreign Currency Exchange Contracts** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *Currency Purchased* | *Currency Purchased* | *Currency Sold* | *Currency Sold* | *Counterparty* | *Settlement Date* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Unrealized* <br>*Appreciation* <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| USD | 27124 | EUR | 23000 | BNP Paribas SA | 12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $3 |
| USD | 118079 | EUR | 100000 | Morgan Stanley & Co. International PLC | 12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 159 |
| USD | 1714872 | EUR | 1450000 | Morgan Stanley & Co. International PLC | 12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5034 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5196 |
| USD | 183755 | EUR | 155934 | Morgan Stanley & Co. International PLC | 12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (123)<br>|
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $5073 |

---

**Centrally Cleared Credit Default Swaps — Sell Protection** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Reference Obligation/Index* | *Financing* <br>*Rate Received* <br>*by the Fund*<br>| &nbsp;&nbsp;&nbsp; *Payment* <br>*Frequency*<br>| &nbsp;&nbsp;&nbsp; *Termination* <br>*Date*<br>| &nbsp;&nbsp;&nbsp; *Notional* <br>*Amount (000)*<sup>(b)</sup>  | &nbsp;&nbsp;&nbsp; *Notional* <br>*Amount (000)*<sup>(b)</sup>  | *Value* | &nbsp;&nbsp; *Upfront* <br>*Premium* <br>*Paid* <br>*(Received)*<br>| &nbsp;&nbsp; *Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>|
| CDX.NA.HY.44.V1 | 5.00<br> % <br>| Quarterly | 06/20/30<br> B | USD | 500 | &nbsp;&nbsp;&nbsp; $40616 | &nbsp;&nbsp;&nbsp; $25835 | &nbsp;&nbsp;&nbsp; $14781 |

---

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

<sup>(a)</sup> Using the rating of the issuer or the underlying securities of the index, as applicable, provided by S&P Global Ratings.

<sup>(b)</sup> The maximum potential amount the Fund may pay should a negative credit event take place as defined under the terms of the agreement.

**OTC Total Return Swaps** 

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Paid by the Fund | Paid by the Fund | Received by the Fund | Received by the Fund |  |  |  |  |  |  |  |  |
| *Rate/Reference* | *Frequency* | *Rate/Reference* | *Frequency* | *Counterparty* | *Effective* <br>*Date*<br>| *Termination* <br>*Date*<br>| *Notional* <br>*Amount (000)* | *Notional* <br>*Amount (000)* | *Value* | *Upfront* <br>*Premium* <br>*Paid* <br>*(Received)*<br>| *Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>|
| 1-day SOFR, 4.24% | Quarterly | &nbsp;&nbsp;&nbsp; Markit iBoxx USD <br> Liquid Leveraged <br> Loan Index<br>| At Termination | &nbsp;&nbsp;&nbsp; Morgan Stanley & <br> Co. International <br> PLC<br>| N/A | 12/20/25 | USD | 4000 | $95590 | $(43905)<br>| $139495 |
| 1-day SOFR, 4.24% | Quarterly | &nbsp;&nbsp;&nbsp; Markit iBoxx USD <br> Liquid Leveraged <br> Loan Index<br>| At Termination | &nbsp;&nbsp;&nbsp; Morgan Stanley & <br> Co. International <br> PLC<br>| N/A | 03/20/26 | USD | 4000 | 94248 | (43905)<br>| 138153 |
| 1-day SOFR, 4.24% | Quarterly | &nbsp;&nbsp;&nbsp; Markit iBoxx USD <br> Liquid Leveraged <br> Loan Index<br>| At Termination | &nbsp;&nbsp;&nbsp; Morgan Stanley & <br> Co. International <br> PLC<br>| N/A | 06/20/26 | USD | 10000 | (679)<br>| (108112)<br>| 107433 |
|  |  |  |  |  |  |  |  |  | $189159 | $(195922)<br>| $385081 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Debt Strategies Fund, Inc. (DSU)** 

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments at the measurement date. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 – Unadjusted price quotations in active markets/exchanges that the Fund has the ability to access for identical assets or liabilities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 – Inputs that are unobservable and significant to the entire fair value measurement for the asset or liability (including the Valuation Committee's assumptions used in determining the fair value of financial instruments).

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds that may not have a secondary market and/or may have a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Fund's policy regarding valuation of financial instruments, refer to its most recent financial statements.

The following table summarizes the Fund's financial instruments categorized in the fair value hierarchy. The breakdown of the Fund's financial instruments into major categories is disclosed in the Schedule of Investments above.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Long-Term Investments  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset-Backed Securities | &nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $9793293 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $9793293 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common Stocks  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Construction & Engineering | &nbsp;&nbsp; 22507 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 22507 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Electrical Equipment | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Entertainment | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 265230 | &nbsp;&nbsp;&nbsp;&nbsp; 265230 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial Services | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 565902 | &nbsp;&nbsp;&nbsp;&nbsp; 565902 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ground Transportation | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1383 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1383 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industrial Conglomerates | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 68101 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 68101 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; IT Services | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 694193 | &nbsp;&nbsp;&nbsp;&nbsp; 694193 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Semiconductors & Semiconductor Equipment | &nbsp;&nbsp; 7 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Trading Companies & Distributors | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 272776 | &nbsp;&nbsp;&nbsp;&nbsp; 272776 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Corporate Bonds | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 118631571 | &nbsp;&nbsp;&nbsp;&nbsp; 192002 | &nbsp;&nbsp;&nbsp;&nbsp; 118823573 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fixed Rate Loan Interests | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2896413 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2896413 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Floating Rate Loan Interests | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 531027831 | &nbsp;&nbsp;&nbsp;&nbsp; 16198149 | &nbsp;&nbsp;&nbsp;&nbsp; 547225980 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investment Companies  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity Funds | &nbsp;&nbsp; 14131800 | &nbsp;&nbsp;&nbsp;&nbsp; 160969 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 14292769 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fixed Income Funds | &nbsp;&nbsp; 32141016 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 32141016 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other Interests | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Preferred Securities |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital Trusts | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4597878 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4597878 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Preferred Stocks | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 66794 | &nbsp;&nbsp;&nbsp;&nbsp; 72419 | &nbsp;&nbsp;&nbsp;&nbsp; 139213 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Warrants | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; Unfunded Floating Rate Loan Interests<sup>(a)</sup> | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 640 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 640 |
| Liabilities |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Unfunded Floating Rate Loan Interests<sup>(a)</sup> | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (199)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (199)<br>|
|  | &nbsp;&nbsp; $46295330 | &nbsp;&nbsp;&nbsp;&nbsp; $667244674 | &nbsp;&nbsp;&nbsp;&nbsp; $18260671 | &nbsp;&nbsp;&nbsp;&nbsp; $731800675 |
| Derivative Financial Instruments<sup>(b)</sup> <br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Assets  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Credit Contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $14781 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $14781 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign Currency Exchange Contracts | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 5196 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 5196 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest Rate Contracts | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 385081 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 385081 |

---

------

Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Debt Strategies Fund, Inc. (DSU)** 

**Fair Value Hierarchy as of Period End (continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| &nbsp;&nbsp;&nbsp; Liabilities  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign Currency Exchange Contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $(123)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $(123)<br>|
|  | &nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $404935 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $404935 |

---

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

<sup>(a)</sup> Unfunded floating rate loan interests are valued at the unrealized appreciation (depreciation) on the commitment.

<sup>(b)</sup> Derivative financial instruments are swaps and forward foreign currency exchange contracts. Swaps and forward foreign currency exchange contracts are valued at the unrealized appreciation (depreciation) on the instrument. 

The Fund may hold assets and/or liabilities in which the fair value approximates the carrying amount for financial reporting purposes. As of period end, bank borrowings payable of $93,000,000 are categorized as Level 2 within the fair value hierarchy.

A reconciliation of Level 3 financial instruments is presented when the Fund had a significant amount of Level 3 investments and derivative financial instruments at the beginning and/or end of the period in relation to net assets. The following table is a reconciliation of Level 3 investments for which significant unobservable inputs were used in determining fair value:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp; *Common* <br>*Stocks*<br>| *Corporate* <br>*Bonds*<br>| *Fixed* <br>*Rate Loan* <br>*Interests*<br>| *Floating* <br>*Rate Loan* <br>*Interests*<br>| *Other* <br>*Interests*<br>| *Preferred* <br>*Stocks* <br>| *Warrants* |
| **Assets** |  |  |  |  |  |  |  |
| Opening balance, as of December 31, 2024 | &nbsp;&nbsp;&nbsp;&nbsp; $1426241 | $205241 | $2375848 | $22428208 | $— <br><sup>(a)</sup><br>| &nbsp;&nbsp; $63638 | $— |
| Transfers into Level 3<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; — | 180000 | 31366 | 3493908 |  | &nbsp;&nbsp; — |  |
| Transfers out of Level 3<sup>(c)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; — |  | (1722486)<br>| (11054016)<br>|  | &nbsp;&nbsp; — |  |
| Accrued discounts/premiums | &nbsp;&nbsp;&nbsp;&nbsp; — | 6738 | 516 | 28453 |  | &nbsp;&nbsp; — |  |
| Net realized gain (loss) | &nbsp;&nbsp;&nbsp;&nbsp; 295448 | 102 | 4660 | 20214 |  | &nbsp;&nbsp; (20)<br>|  |
| Net change in unrealized appreciation (depreciation)<sup>(d)(e)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; (151974)<br>| 27555 | (29980)<br>| 257799 |  | &nbsp;&nbsp; 8801 |  |
| Purchases | &nbsp;&nbsp;&nbsp;&nbsp; 1016762 |  | 5075 | 9836365 |  | &nbsp;&nbsp; — |  |
| Sales | &nbsp;&nbsp;&nbsp;&nbsp; (788376)<br>| (227634)<br>| (664999)<br>| (8812782)<br>|  | &nbsp;&nbsp; — |  |
| Closing balance, as of September 30, 2025 | &nbsp;&nbsp;&nbsp;&nbsp; $1798101 | $192002 | $— | $16198149 | $— <br><sup>(a)</sup><br>| &nbsp;&nbsp; $72419 | $— |
| &nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) on investments still held at September 30, <br> 2025<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; $(151974)<br>| $5927 | $(36441)<br>| $317803 | $— <br><sup>(a)</sup><br>| &nbsp;&nbsp; $8801 | $— |

---

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

---

| | |
|:---|:---|
|  | *Total* |
| **Assets** |  |
| Opening balance, as of December 31, 2024 | &nbsp;&nbsp;&nbsp;&nbsp; $26499176 |
| Transfers into Level 3<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 3705274 |
| Transfers out of Level 3<sup>(c)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; (12776502)<br>|
| Accrued discounts/premiums | &nbsp;&nbsp;&nbsp;&nbsp; 35707 |
| Net realized gain (loss) | &nbsp;&nbsp;&nbsp;&nbsp; 320404 |
| Net change in unrealized appreciation (depreciation)<sup>(d)(e)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 112201 |
| Purchases | &nbsp;&nbsp;&nbsp;&nbsp; 10858202 |
| Sales | &nbsp;&nbsp;&nbsp;&nbsp; (10493791)<br>|
| Closing balance, as of September 30, 2025 | &nbsp;&nbsp;&nbsp;&nbsp; $18260671 |
| Net change in unrealized appreciation (depreciation) on investments still held at September 30, 2025<sup>(e)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; $144116 |

---

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

<sup>(a)</sup> Rounds to less than $1.

<sup>(b)</sup> As of December 31, 2024, the Fund used observable inputs in determining the value of certain investments. As of September 30, 2025, the Fund used significant unobservable inputs in determining the value of the same investments. As a result, investments at beginning of period value were transferred from Level 2 to Level 3 in the disclosure hierarchy. 

<sup>(c)</sup> As of December 31, 2024, the Fund used significant unobservable inputs in determining the value of certain investments. As of September 30, 2025, the Fund used observable inputs indetermining the value of the same investments. As a result, investments at beginning of period value were transferred from Level 3 to Level 2 in the disclosure hierarchy. 

<sup>(d)</sup> Included in the related net change in unrealized appreciation (depreciation) in the Statements of Operations.

<sup>(e)</sup> Any difference between net change in unrealized appreciation (depreciation) and net change in unrealized appreciation (depreciation) on investments still held at September 30, 2025 is generally due to investments no longer held or categorized as Level 3 at period end. 

The Fund's financial instruments that are categorized as Level 3 were valued utilizing third-party pricing information without adjustment. Such valuations are based on unobservable inputs. A significant change in third-party information could result in a significantly lower or higher value of such Level 3 financial instruments.

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Debt Strategies Fund, Inc. (DSU)** 

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

---

| | |
|:---|:---|
| **Currency Abbreviation**  | **Currency Abbreviation**  |
| EUR | Euro |
| USD | United States Dollar |

---

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

---

| | |
|:---|:---|
| **Portfolio Abbreviation**  | **Portfolio Abbreviation**  |
| CLO | Collateralized Loan Obligation |
| CME | Chicago Mercantile Exchange  |
| CMT | Constant Maturity Treasury |
| DAC | Designated Activity Company  |
| ETF | Exchange-Traded Fund |
| GO | General Obligation Bonds |
| PIK | Payment-in-Kind |
| REIT | Real Estate Investment Trust |
| SOFR | Secured Overnight Financing Rate  |
| SPDR | Standard & Poor's Depository Receipt |

---

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** BlackRock Debt Strategies Fund, Inc.

- **b. Investment Company Act file number:** 811-08603

- **c. CIK number of Registrant:** 0001051003

- **d. LEI of Registrant:** Y02PFSGMGNYKWM70AJ95

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

  - **Street Address 1:** 100 Bellevue Parkway

  - **City:** Wilmington

  - **State:** DE

  - **Foreign country:** US

  - **Zip / Postal Code:** 19809

  - **Telephone number:** 800-441-7762

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

- **a. Name of Series:** BlackRock Debt Strategies Fund, Inc.

- **c. LEI of Series:** Y02PFSGMGNYKWM70AJ95

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

- **a. Date of fiscal year-end:** 2025-12-31

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $741514677.22

**Total Liabilities:** $122363938.06

**Net Assets:** $619150739.16

**Delayed Delivery Securities:** $15562166.98

**Cash Not Reported:** $2908330.65

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 7.16000000 | **1-Year:** 21.84000000 | **5-Year:** 1047.41000000 | **10-Year:** 504.19000000 | **30-Year:** 72.12000000

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

- **3-Month:** 96.97000000 | **1-Year:** 2847.37000000 | **5-Year:** 29518.19000000 | **10-Year:** 1350.98000000 | **30-Year:** 476.69000000

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | 0.95%                | 0.37%                | 0.77%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-435661.47              | $1784509.16                                |
| Month 2  | $-1015360.41             | $-330186.25                                |
| Month 3  | $-236205.44              | $682354.35                                 |

### 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        |    149000 | PA      | $144625.36    | 0.02%             | 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        |     40000 | PA      | $41545.37     | 0.01%             | 2033-05-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| SCIENTIFIC GAMES HOLDINGS LP                         | Scientific Games Holdings LP 2024 USD Term Loan B                                | CUSIP: 80875CAE7<br>LEI: 549300W5GPFXXB6TQ330 | Long             | LON              | CORP              | US        |    685457 | PA      | $679376.55    | 0.11%             | 2029-04-04      | Floating      | 7.29%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP                                            | Sunoco LP                                                                        | CUSIP: 86765KAE9<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |    480000 | PA      | $487540.80    | 0.08%             | 2030-09-18      | Fixed         | 7.88%                 | 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        |   2466620 | PA      | $2471997.73   | 0.40%             | 2030-04-30      | Floating      | 7.20%                 | No            |                  2 | On Loan: No      |
| MATADOR RESOURCES CO                                 | Matador Resources Co                                                             | CUSIP: 576485AG1<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | DBT              | CORP              | US        |     75000 | PA      | $75717.68     | 0.01%             | 2032-04-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| TKO WORLDWIDE HOLDINGS LLC                           | TKO WORLDWIDE HOLDINGS LLC 2025 TERM LOAN                                        | CUSIP: 90266UAL7<br>LEI: 549300JEOTH7UMZ3C491 | Long             | LON              | CORP              | US        |    833910 | PA      | $834818.96    | 0.13%             | 2031-11-21      | Floating      | 6.04%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                               | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCL5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      9000 | PA      | $8001.55      | 0.00%             | 2033-06-01      | Fixed         | 4.50%                 | 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        |    904557 | PA      | $901961.30    | 0.15%             | 2031-12-02      | Floating      | 8.78%                 | 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        |     22000 | PA      | $21144.00     | 0.00%             | 2030-03-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| NISSAN MOTOR ACCEPTANCE                              | Nissan Motor Acceptance Co LLC                                                   | CUSIP: 65480CAL9<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |    142000 | PA      | $142048.50    | 0.02%             | 2030-09-30      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| HERENS HOLDCO SARL                                   | Herens Holdco Sarl                                                               | CUSIP: 427169AA5<br>LEI: 2221002FZ55AMAUX4G64 | Long             | DBT              | CORP              | LU        |    200000 | PA      | $175217.82    | 0.03%             | 2028-05-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| BALL CORP                                            | Ball Corp                                                                        | CUSIP: 058498BA3<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | DBT              | CORP              | US        |     62000 | PA      | $62666.43     | 0.01%             | 2033-09-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Core & Main LP                                       | Core & Main LP 2024 Term Loan D                                                  | CUSIP: 40416VAG0<br>LEI: 549300ZSLF8Q660SCD17 | Long             | LON              | CORP              | US        |   2980890 | PA      | $2979638.46   | 0.48%             | 2028-07-27      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| CHART INDUSTRIES INC                                 | Chart Industries Inc 2024 Term Loan B                                            | CUSIP: 16115EAT4<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | LON              | CORP              | US        |    505810 | PA      | $507707.04    | 0.08%             | 2030-03-15      | Floating      | 6.79%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                             | Hilcorp Energy I LP / Hilcorp Finance Co                                         | CUSIP: 431318AS3<br>LEI: 549300ITPIHLG0LHEC09 | Long             | DBT              | CORP              | US        |      3000 | PA      | $3007.40      | 0.00%             | 2028-11-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| ASHTON WOODS USA/FINANCE                             | Ashton Woods USA LLC / Ashton Woods Finance Co                                   | CUSIP: 045086AM7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     32000 | PA      | $30642.38     | 0.00%             | 2029-08-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| STARWOOD PROPERTY TRUST                              | Starwood Property Trust Inc                                                      | CUSIP: 85571BBB0<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              |  | US        |     43000 | PA      | $45151.94     | 0.01%             | 2029-04-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| ZAYO GROUP HOLDINGS INC                              | Zayo Group Holdings Inc                                                          | CUSIP: 98919VAD7<br>LEI: 529900Z6OTS7RT0V0I47 | Long             | DBT              | CORP              | US        |    111609 | PA      | $105749.21    | 0.02%             | 2030-09-09      | Fixed         | 13.75%                | No            |                  2 | On Loan: No      |
| PERFORMANCE FOOD GROUP I                             | Performance Food Group Inc                                                       | CUSIP: 71376LAF7<br>LEI: 549300OMUOGBYK0FFO76 | Long             | DBT              | CORP              | US        |    190000 | PA      | $194619.09    | 0.03%             | 2032-09-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| Penn Entertainment Inc                               | PENN Entertainment Inc 2022 Term Loan B                                          | CUSIP: 70757DAZ2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1245890 | PA      | $1244332.96   | 0.20%             | 2029-05-03      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| American Airlines, Inc.                              | American Airlines Inc 2025 Term Loan B                                           | CUSIP: 02376CBT1<br>LEI: IWUQB36BXD6OWD6X4T14 | Long             | LON              | CORP              | KY        |    629422 | PA      | $631782.83    | 0.10%             | 2032-05-28      | Floating      | 7.58%                 | No            |                  2 | On Loan: No      |
| VIKING OCEAN CRUISES SHI                             | Viking Ocean Cruises Ship VII Ltd                                                | CUSIP: 92682RAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |     27000 | PA      | $26976.78     | 0.00%             | 2029-02-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Madison Safety & Flow LLC                            | Madison Safety & Flow LLC 2025 Term Loan B                                       | CUSIP: 55822DAM3<br>LEI: 5493007D2J7BBIFYBY65 | Long             | LON              | CORP              | US        |    487182 | PA      | $487488.42    | 0.08%             | 2031-09-26      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| HANESBRANDS INC                                      | Hanesbrands Inc                                                                  | CUSIP: 410345AQ5<br>LEI: GX5LWVWZLL5S4W1L2F20 | Long             | DBT              | CORP              | US        |      3000 | PA      | $3175.18      | 0.00%             | 2031-02-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| STATION CASINOS LLC                                  | Station Casinos LLC                                                              | CUSIP: 857691AG4<br>LEI: 5493004E7Q60TX54WL62 | Long             | DBT              | CORP              | US        |     69000 | PA      | $67838.38     | 0.01%             | 2028-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Amentum Government Services Holdings LLC             | Amentum Government Services Holdings LLC 2024 Term Loan B                        | CUSIP: 02351XAB4<br>LEI: 2549009FJIBLW40CU216 | Long             | LON              | CORP              | US        |   1255200 | PA      | $1253705.89   | 0.20%             | 2031-09-29      | Floating      | 6.41%                 | No            |                  2 | On Loan: No      |
| ALLIED UNIVERSAL HOLDCO                              | Allied Universal Holdco LLC                                                      | CUSIP: 019576AD9<br>LEI: 98450038B4549046D794 | Long             | DBT              | CORP              | US        |    980000 | PA      | $1027525.81   | 0.17%             | 2031-02-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| NEPTUNE BIDCO US INC                                 | Neptune Bidco US Inc                                                             | CUSIP: 640695AA0<br>LEI: 549300VG15T3VCYZ4531 | Long             | DBT              | CORP              | US        |    254000 | PA      | $249349.26    | 0.04%             | 2029-04-15      | Fixed         | 9.29%                 | No            |                  2 | On Loan: No      |
| LIGHTNING POWER LLC                                  | Lightning Power LLC                                                              | CUSIP: 53229KAA7<br>LEI: 254900BWCHJ03XRL8K59 | Long             | DBT              | CORP              | US        |     23000 | PA      | $24350.47     | 0.00%             | 2032-08-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                             | Hilcorp Energy I LP / Hilcorp Finance Co                                         | CUSIP: 431318BG8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     34000 | PA      | $33227.75     | 0.01%             | 2035-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| ALLIED UNIVERSAL HOLDCO LLC                          | Allied Universal Holdco LLC 2025 USD Term Loan B                                 | CUSIP: 01957TAX5<br>LEI: 98450038B4549046D794 | Long             | LON              | CORP              | US        |   4173679 | PA      | $4186951.78   | 0.68%             | 2032-08-20      | Floating      | 7.51%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                         | Barclays PLC                                                                     | CUSIP: 06738ECN3<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $227052.40    | 0.04%             | 2029-12-15      | Fixed         | 9.63%                 | No            |                  2 | On Loan: No      |
| ARDAGH PKG FIN/HLDGS USA                             | Ardagh Packaging Finance PLC / Ardagh Holdings USA Inc                           | CUSIP: 03969AAN0<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    200000 | PA      | $192000.00    | 0.03%             | 2026-08-15      | Fixed         | 4.13%                 | No            |                  3 | On Loan: No      |
| Madison Park Funding Ltd                             | Madison Park Funding LXIX Ltd                                                    | CUSIP: 55822VAJ0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1090000 | PA      | $1103726.15   | 0.18%             | 2037-07-25      | Floating      | 7.67%                 | No            |                  2 | On Loan: No      |
| ACURIS FIN US/ACURIS FIN                             | Acuris Finance US Inc / Acuris Finance SARL                                      | CUSIP: 00511BAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $194375.20    | 0.03%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL                               | NextEra Energy Capital Holdings Inc                                              | CUSIP: 65339KDE7<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |     55000 | PA      | $57109.86     | 0.01%             | 2055-08-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| OUTFRONT MEDIA CAP LLC/C                             | Outfront Media Capital LLC / Outfront Media Capital Corp                         | CUSIP: 69007TAE4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     98000 | PA      | $94128.12     | 0.02%             | 2029-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP                                    | Clarios Global LP 2025 USD Term Loan B                                           | CUSIP: 000000000<br>LEI: 549300474L1ZLXZY2P98 | Long             | LON              | CORP              | US        |   1460000 | PA      | $1459547.40   | 0.24%             | 2032-01-28      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| ASBURY AUTOMOTIVE GROUP                              | Asbury Automotive Group Inc                                                      | CUSIP: 043436AU8<br>LEI: 549300JH4DTA7U42GL91 | Long             | DBT              | CORP              | US        |     39000 | PA      | $38523.08     | 0.01%             | 2028-03-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ADVANCE AUTO PARTS                                   | Advance Auto Parts Inc                                                           | CUSIP: 00751YAK2<br>LEI: 529900UCNQ5H9FSL0Y70 | Long             | DBT              | CORP              | US        |     53000 | PA      | $54529.20     | 0.01%             | 2030-08-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Flutter Financing BV                                 | Flutter Financing BV 2024 Term Loan B                                            | CUSIP: 000000000<br>LEI: 635400VFWPBIKJK6GN11 | Long             | LON              | CORP              | NL        |   3454351 | PA      | $3439669.91   | 0.56%             | 2030-11-30      | Floating      | 5.75%                 | No            |                  2 | On Loan: No      |
| NASSAU COMPANIES OF NY                               | Nassau Cos of New York/The                                                       | CUSIP: 63155AAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     31000 | PA      | $31660.77     | 0.01%             | 2030-07-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| ALLIANT HOLD / CO-ISSUER                             | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                   | CUSIP: 01883LAD5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    373000 | PA      | $371054.88    | 0.06%             | 2029-11-01      | Fixed         | 5.88%                 | 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        |    643429 | PA      | $643911.52    | 0.10%             | 2028-08-23      | Floating      | 8.28%                 | No            |                  2 | On Loan: No      |
| CALPINE CORP                                         | Calpine Corp                                                                     | CUSIP: 131347CP9<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |     47000 | PA      | $46538.15     | 0.01%             | 2029-02-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| US FOODS INC                                         | US Foods Inc 2024 1st Lien Term Loan B                                           | CUSIP: 90351HAG3<br>LEI: 5493000JOOFAOUY1JZ87 | Long             | LON              | CORP              | US        |    619320 | PA      | $622856.32    | 0.10%             | 2031-10-03      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| DISH NETWORK CORP                                    | DISH Network Corp                                                                | CUSIP: 25470MAG4<br>LEI: 529900U350CWHH15G169 | Long             | DBT              | CORP              | US        |    593000 | PA      | $627546.40    | 0.10%             | 2027-11-15      | Fixed         | 11.75%                | No            |                  2 | On Loan: No      |
| DELUXE CORP                                          | Deluxe Corp                                                                      | CUSIP: 248019AW1<br>LEI: KWGNKB8TX9LE5TV29231 | Long             | DBT              | CORP              | US        |     31000 | PA      | $32370.70     | 0.01%             | 2029-09-15      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| FIESTA PURCHASER INC                                 | Fiesta Purchaser Inc                                                             | CUSIP: 31659AAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      5000 | PA      | $5276.67      | 0.00%             | 2031-03-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| KEHE DIST/FIN / NEXTWAVE                             | KeHE Distributors LLC / KeHE Finance Corp / NextWave Distribution Inc            | CUSIP: 487526AC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     39000 | PA      | $41033.97     | 0.01%             | 2029-02-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                        | TransDigm Inc                                                                    | CUSIP: 893647CA3<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    428000 | PA      | $442534.46    | 0.07%             | 2034-01-31      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| MELCO RESORTS FINANCE                                | Melco Resorts Finance Ltd                                                        | CUSIP: 58547DAH2<br>LEI: 5493000FQDBWKDBZEF60 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $209500.00    | 0.03%             | 2032-04-17      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| STANDARD INDUSTRI INC/NY                             | Standard Industries Inc/NY                                                       | CUSIP: 853496AG2<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |    141000 | PA      | $135187.92    | 0.02%             | 2030-07-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Camelot US Acquisition LLC                           | Camelot US Acquisition LLC 2024 Term Loan B                                      | CUSIP: 000000000<br>LEI: 549300U6VBJHQP2SFL81 | Long             | LON              | CORP              | US        |    823173 | PA      | $817772.62    | 0.13%             | 2031-01-31      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| ANYWHERE REAL EST/CO-ISS                             | Anywhere Real Estate Group LLC / Anywhere Co-Issuer Corp                         | CUSIP: 75606DAT8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     80000 | PA      | $80960.20     | 0.01%             | 2030-04-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE PRIVATE CRE                               | Blackstone Private Credit Fund                                                   | CUSIP: 09261HBW6<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |    139000 | PA      | $142342.53    | 0.02%             | 2034-11-22      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Cloudera Inc                                         | Cloudera Inc 2021 Term Loan                                                      | CUSIP: 74339VAB4<br>LEI: 549300PGONC4JOI0RG62 | Long             | LON              | CORP              | US        |    647386 | PA      | $635784.68    | 0.10%             | 2028-10-08      | Floating      | 8.01%                 | No            |                  2 | On Loan: No      |
| WILDFIRE INTERMEDIATE HO                             | Wildfire Intermediate Holdings LLC                                               | CUSIP: 96812HAA6<br>LEI: 5493003RHEMQJZEXIR02 | Long             | DBT              | CORP              | US        |     71000 | PA      | $71736.63     | 0.01%             | 2029-10-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| VIAVI SOLUTIONS INC                                  | Viavi Solutions Inc                                                              | CUSIP: 925550AF2<br>LEI: 5493006K3E3N1QOBF092 | Long             | DBT              | CORP              | US        |     31000 | PA      | $29227.72     | 0.00%             | 2029-10-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO                             | Clear Channel Outdoor Holdings Inc                                               | CUSIP: 18453HAG1<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |    275000 | PA      | $284254.30    | 0.05%             | 2031-02-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                               | Venture Global LNG Inc                                                           | CUSIP: 92332YAD3<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |    205000 | PA      | $223188.26    | 0.04%             | 2032-02-01      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| Oryx Midstream Services Permian Basin LLC            | Oryx Midstream Services Permian Basin LLC 2025 Term Loan B                       | CUSIP: 68764JAJ0<br>LEI: 254900YYHRDANYFAHC43 | Long             | LON              | CORP              | US        |   2613472 | PA      | $2611981.92   | 0.42%             | 2028-10-05      | Floating      | 6.42%                 | No            |                  2 | On Loan: No      |
| BLUE RACER MID LLC/FINAN                             | Blue Racer Midstream LLC / Blue Racer Finance Corp                               | CUSIP: 095796AK4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     45000 | PA      | $47324.88     | 0.01%             | 2032-07-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| RAISING CANE'S RESTAURAN                             | Raising Cane's Restaurants LLC                                                   | CUSIP: 75103AAA3<br>LEI: 254900V6ADXFWHYOED66 | Long             | DBT              | CORP              | US        |     36000 | PA      | $37790.78     | 0.01%             | 2029-05-01      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| BOOTS GROUP BIDCO LTD                                | BOOTS GROUP BIDCO LTD USD TERM LOAN                                              | CUSIP: 09947PAB7<br>LEI: 254900YVLYOVF1PF1N93 | Long             | LON              | CORP              | US        |   1157000 | PA      | $1159406.56   | 0.19%             | 2032-08-30      | Floating      | 7.70%                 | No            |                  2 | On Loan: No      |
| AMWINS GROUP INC                                     | AmWINS Group Inc                                                                 | CUSIP: 031921AC3<br>LEI: 549300SJE7MUB8NMRG61 | Long             | DBT              | CORP              | US        |     36000 | PA      | $36731.95     | 0.01%             | 2029-02-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| PBF HOLDING CO LLC                                   | PBF Holding Co LLC / PBF Finance Corp                                            | CUSIP: 69318FAL2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     34000 | PA      | $33568.84     | 0.01%             | 2030-09-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| MOLINA HEALTHCARE INC                                | Molina Healthcare Inc                                                            | CUSIP: 60855RAM2<br>LEI: 549300NQQCEQ46YHZ591 | Long             | DBT              | CORP              | US        |    194000 | PA      | $196155.15    | 0.03%             | 2033-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| VIKING CRUISES LTD                                   | Viking Cruises Ltd                                                               | CUSIP: 92676XAF4<br>LEI: 549300IJP90T4MV2GL84 | Long             | DBT              | CORP              | BM        |     13000 | PA      | $13065.69     | 0.00%             | 2029-02-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| COMMSCOPE LLC                                        | CommScope LLC                                                                    | CUSIP: 203372AX5<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |    203000 | PA      | $201696.74    | 0.03%             | 2029-09-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC                                    | Herc Holdings Inc                                                                | CUSIP: 42704LAE4<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |     29000 | PA      | $29797.59     | 0.00%             | 2029-06-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| LGI HOMES INC                                        | LGI Homes Inc                                                                    | CUSIP: 50187TAH9<br>LEI: 549300W02B4WNV8CV109 | Long             | DBT              | CORP              | US        |     33000 | PA      | $34644.06     | 0.01%             | 2028-12-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| 1011778 BC / NEW RED FIN                             | 1011778 BC ULC / New Red Finance Inc                                             | CUSIP: 68245XAT6<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |     29000 | PA      | $29348.73     | 0.00%             | 2029-09-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| DEEP BLUE OPERATING I LLC                            | DEEP BLUE OPERATING I LLC TERM LOAN                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    321000 | PA      | $321000.00    | 0.05%             | 2032-09-17      | Floating      | 6.88%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                             | CHS/Community Health Systems Inc                                                 | CUSIP: 12543DBK5<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |    100000 | PA      | $86474.82     | 0.01%             | 2031-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| WYNN RESORTS FINANCE LLC                             | Wynn Resorts Finance LLC / Wynn Resorts Capital Corp                             | CUSIP: 983133AD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     45000 | PA      | $45696.60     | 0.01%             | 2033-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| HAH GROUP HOLDING CO LLC                             | HAH Group Holding Co LLC                                                         | CUSIP: 40518JAA7<br>LEI: 254900FFJQHW9R90FL74 | Long             | DBT              | CORP              | US        |     38000 | PA      | $36102.98     | 0.01%             | 2031-10-01      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| US FOODS INC                                         | US Foods Inc                                                                     | CUSIP: 90290MAH4<br>LEI: 5493000JOOFAOUY1JZ87 | Long             | DBT              | CORP              | US        |     60000 | PA      | $62816.52     | 0.01%             | 2032-01-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| INFORMATICA LLC                                      | Informatica LLC 2024 Term Loan B                                                 | CUSIP: 45673YAL0<br>LEI: 5493007SV33RZV7RPS40 | Long             | LON              | CORP              | US        |   1410324 | PA      | $1412086.47   | 0.23%             | 2028-10-27      | Floating      | 6.41%                 | No            |                  2 | On Loan: No      |
| CITY FOOTBALL GROUP LIMITED                          | City Football Group Limited 2024 Term Loan                                       | CUSIP: 17781XAD8<br>LEI: 213800K6VVWALRH9UJ69 | Long             | LON              | CORP              | GB        |   1189430 | PA      | $1188443.00   | 0.19%             | 2030-07-22      | Floating      | 7.78%                 | No            |                  2 | On Loan: No      |
| ABG Intermediate Holdings 2 LLC                      | ABG Intermediate Holdings 2 LLC 2025 Delayed Draw Term Loan                      | CUSIP: 00076VBM1<br>LEI: 54930020NXD0RJB64985 | Long             | LON              | CORP              | US        |    631164 | PA      | $629851.34    | 0.10%             | 2032-02-13      | Floating      | 6.41%                 | No            |                  2 | On Loan: No      |
| MKS INC                                              | MKS Inc                                                                          | CUSIP: 55306NAB0<br>LEI: 549300KEQATBHAGVF505 | Long             | DBT              | CORP              | US        |    134000 | PA      | $146730.00    | 0.02%             | 2030-06-01      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| Heritage-Crystal Clean Inc                           | Heritage-Crystal Clean Inc Term Loan B                                           | CUSIP: 465966AB5<br>LEI: 254900KPFL42CYD2VY03 | Long             | LON              | CORP              | US        |    622687 | PA      | $623727.10    | 0.10%             | 2030-10-17      | Floating      | 7.89%                 | 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        |      2000 | PA      | $1975.06      | 0.00%             | 2030-12-31      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| SIRVA BGRS HOLDINGS PREFERRED                        | SIRVA BGRS HOLDINGS PREFERRED                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |       382 | NS      | $66794.00     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| BROOKFIELD RESID PROPERT                             | Brookfield Residential Properties Inc / Brookfield Residential US LLC            | CUSIP: 11283YAG5<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |     67000 | PA      | $63849.17     | 0.01%             | 2029-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TENNECO INC                                          | Tenneco Inc                                                                      | CUSIP: 880349AU9<br>LEI: 549300U0EXXFAQFAD785 | Long             | DBT              | CORP              | US        |    159000 | PA      | $159290.28    | 0.03%             | 2028-11-17      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| LAMB WESTON HLD                                      | Lamb Weston Holdings Inc                                                         | CUSIP: 513272AD6<br>LEI: 5493005SMYID1D2OY946 | Long             | DBT              | CORP              | US        |    248000 | PA      | $238135.40    | 0.04%             | 2030-01-31      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| KINETIK HOLDINGS LP                                  | Kinetik Holdings LP                                                              | CUSIP: 49461MAA8<br>LEI: 549300RD6AJIMYC0HY12 | Long             | DBT              | CORP              | US        |      6000 | PA      | $6034.90      | 0.00%             | 2030-06-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| MATADOR RESOURCES CO                                 | Matador Resources Co                                                             | CUSIP: 576485AF3<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | DBT              | CORP              | US        |     64000 | PA      | $65314.50     | 0.01%             | 2028-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| COMSTOCK RESOURCES INC                               | Comstock Resources Inc                                                           | CUSIP: 205768AU8<br>LEI: I03QQGEA4SS774AURI46 | Long             | DBT              | CORP              | US        |     34000 | PA      | $33796.00     | 0.01%             | 2029-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| MATIV HOLDINGS INC                                   | Mativ Holdings Inc                                                               | CUSIP: 808541AC0<br>LEI: 549300Z1FU4IDULG1R21 | Long             | DBT              | CORP              | US        |     35000 | PA      | $34652.07     | 0.01%             | 2029-10-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| ECO SERVICES OPERATIONS CORP                         | ECO Services Operations Corp 2024 Term Loan B                                    | CUSIP: 27922JAC0<br>LEI: 254900NH3N3I82Z6Q744 | Long             | LON              | CORP              | US        |   1359939 | PA      | $1357817.14   | 0.22%             | 2031-06-12      | Floating      | 6.31%                 | No            |                  2 | On Loan: No      |
| CALPINE CORP                                         | Calpine Corp                                                                     | CUSIP: 131347CQ7<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |     19000 | PA      | $18944.47     | 0.00%             | 2031-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FREEPORT LNG INVESTMENTS LLLP                        | Freeport LNG Investments LLLP 2025 Term Loan B                                   | CUSIP: 35670CAC2<br>LEI: 549300LR5YVRZH4YPQ33 | Long             | LON              | CORP              | US        |   2017245 | PA      | $2015449.60   | 0.33%             | 2028-12-21      | Floating      | 7.58%                 | No            |                  2 | On Loan: No      |
| Six Flags Entertainment Corporation                  | Six Flags Entertainment Corporation 2024 Term Loan B                             | CUSIP: 15018LAN1<br>LEI: 529900AS2CYWYFHRS781 | Long             | LON              | CORP              | US        |    299212 | PA      | $297043.21    | 0.05%             | 2031-05-01      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| TIDEWATER INC                                        | Tidewater Inc                                                                    | CUSIP: 88642RAE9<br>LEI: 2549000JA5GRUPLMUH98 | Long             | DBT              | CORP              | US        |     65000 | PA      | $69709.23     | 0.01%             | 2030-07-15      | Fixed         | 9.13%                 | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP/US FIN                             | Clarios Global LP / Clarios US Finance Co                                        | CUSIP: 18060TAC9<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |     85000 | PA      | $86877.37     | 0.01%             | 2028-05-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| GFL ENVIRONMENTAL INC                                | GFL Environmental Inc 2025 Term Loan B                                           | CUSIP: 36257SAB8<br>LEI: 254900PGDQWC19PRP053 | Long             | LON              | CORP              | US        |   2456000 | PA      | $2452782.64   | 0.40%             | 2032-03-03      | Floating      | 6.67%                 | No            |                  2 | On Loan: No      |
| SHIFT4 PAYMENTS LLC                                  | Shift4 Payments LLC 2025 Term Loan                                               | CUSIP: 000000000<br>LEI: 254900GTEMR7L40VPI74 | Long             | LON              | CORP              | US        |    674000 | PA      | $678771.92    | 0.11%             | 2032-06-30      | Floating      | 6.50%                 | 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        |    475789 | PA      | $483968.29    | 0.08%             | 2032-05-06      | Floating      | 8.75%                 | No            |                  2 | On Loan: No      |
| WEATHERFORD INTERNATIONA                             | Weatherford International Ltd                                                    | CUSIP: 947075AW7<br>LEI: 549300A2JKMG5PGOGF82 | Long             | DBT              | CORP              | BM        |    159000 | PA      | $159110.60    | 0.03%             | 2033-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| VISTRA CORP                                          | Vistra Corp                                                                      | CUSIP: 92840MAC6<br>LEI: 549300KP43CPCUJOOG15 | Long             | DBT              | CORP              | US        |    228000 | PA      | $231481.56    | 0.04%             | 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        |    218000 | PA      | $188474.72    | 0.03%             | 2034-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| POST HOLDINGS INC                                    | Post Holdings Inc                                                                | CUSIP: 737446AR5<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |     28000 | PA      | $26158.98     | 0.00%             | 2031-09-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| 1011778 BC Unlimited Liability Company               | 1011778 BC Unlimited Liability Company 2024 Term Loan B6                         | CUSIP: 000000000<br>LEI: 549300RHSHNRWI5LLA86 | Long             | LON              | CORP              | CA        |   1845581 | PA      | $1837885.38   | 0.30%             | 2030-09-20      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| TMK HAWK MIDCO CORP 1                                | TMK HAWK MIDCO CORP 1                                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     24798 | NS      | $272775.58    | 0.04%             |  |  |  | No            |                  3 | On Loan: No      |
| SHIFT4 PAYMENTS LLC/FIN                              | Shift4 Payments LLC / Shift4 Payments Finance Sub Inc                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $122248.42    | 0.02%             | 2033-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| COUGAR JV SUBSIDIARY LLC                             | Cougar JV Subsidiary LLC                                                         | CUSIP: 22208WAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $53159.90     | 0.01%             | 2032-05-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| CHORD ENERGY CORP                                    | Chord Energy Corp                                                                | CUSIP: 674215AN8<br>LEI: 529900FA4V2YNIKZ0M71 | Long             | DBT              | CORP              | US        |     30000 | PA      | $30395.66     | 0.00%             | 2033-03-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| LINDBLAD EXPEDITIONS LLC                             | Lindblad Expeditions LLC                                                         | CUSIP: 53523LAB6<br>LEI: 549300MPUWOG67Y2R254 | Long             | DBT              | CORP              | US        |    102000 | PA      | $103967.58    | 0.02%             | 2030-09-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| RADIATE HOLDCO LLC                                   | Radiate Holdco LLC 2025 FLFO Term Loan                                           | CUSIP: 75025KAM0<br>LEI: 5493000GQJ5RDX9DNJ71 | Long             | LON              | CORP              | US        |   2934234 | PA      | $2362968.18   | 0.38%             | 2029-09-25      | Floating      | 7.78%                 | No            |                  2 | On Loan: No      |
| BOOST NEWCO BORROWER LLC                             | Boost Newco Borrower LLC 2025 USD Term Loan B2                                   | CUSIP: 92943EAG1<br>LEI: 254900S8RE1OL7TTCU64 | Long             | LON              | CORP              | US        |   3442011 | PA      | $3443456.60   | 0.56%             | 2031-01-31      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| Mauser Packaging Solutions Holding Company           | Mauser Packaging Solutions Holding Company 2024 Term Loan B                      | CUSIP: 57763TAE3<br>LEI: 549300DNGHXL0OMHW304 | Long             | LON              | CORP              | US        |    938236 | PA      | $937870.13    | 0.15%             | 2027-04-15      | Floating      | 7.28%                 | No            |                  2 | On Loan: No      |
| Galaxy US Opco Inc                                   | Galaxy US Opco Inc Term Loan                                                     | CUSIP: 36321DAB3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    436172 | PA      | $395010.47    | 0.06%             | 2030-07-31      | Floating      | 6.31%                 | No            |                  2 | On Loan: No      |
| ICAHN ENTERPRISES/FIN                                | Icahn Enterprises LP / Icahn Enterprises Finance Corp                            | CUSIP: 451102CF2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     42000 | PA      | $42388.50     | 0.01%             | 2029-01-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                        | Citigroup Inc                                                                    | CUSIP: 172967PM7<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     45000 | PA      | $47796.75     | 0.01%             | 2034-08-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Potters Industries, LLC                              | Potters Industries LLC 2025 Repriced Term Loan B                                 | CUSIP: 73813HAF3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    463962 | PA      | $465023.97    | 0.08%             | 2027-12-14      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| NOVELIS SHEET INGOT GMBH                             | Novelis Sheet Ingot GmbH                                                         | CUSIP: 000000000<br>LEI: 9845005E95899E77AY49 | Long             | DBT              | CORP              | DE        |    100000 | PA      | $114304.20    | 0.02%             | 2029-04-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| PG Investment Company 59 Sa rl                       | PG Investment Company 59 Sa rl Term Loan B                                       | CUSIP: 91728NAB5<br>LEI: 254900XMCCB3IEZ2A005 | Long             | LON              | CORP              | LU        |    545260 | PA      | $546350.52    | 0.09%             | 2031-03-26      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| PointClickCare Technologies, Inc.                    | PointClickCare Technologies Inc 2025 Term Loan B                                 | CUSIP: 000000000<br>LEI: 5493001Z0LHHBZLVDX36 | Long             | LON              | CORP              | CA        |    710877 | PA      | $711275.31    | 0.11%             | 2031-11-03      | Floating      | 6.75%                 | No            |                  2 | On Loan: No      |
| Genesee & Wyoming Inc (New)                          | Genesee & Wyoming Inc (New) 2024 Term Loan                                       | CUSIP: 37156QAZ9<br>LEI: G617XSG94Z7G0RMW3L02 | Long             | LON              | CORP              | US        |   3486252 | PA      | $3471330.84   | 0.56%             | 2031-04-10      | Floating      | 5.75%                 | No            |                  2 | On Loan: No      |
| VOYAGER PARENT LLC                                   | Voyager Parent LLC                                                               | CUSIP: 92921EAA0<br>LEI: 2549002DYVI4ACSV4V71 | Long             | DBT              | CORP              | US        |     92000 | PA      | $97289.09     | 0.02%             | 2032-07-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| APOLLO DEBT SOLUTIONS BD                             | Apollo Debt Solutions BDC                                                        | CUSIP: 03770DAG8<br>LEI: 549300UMUGX092P8DW87 | Long             | DBT              | CORP              | US        |     51000 | PA      | $51894.91     | 0.01%             | 2030-08-30      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Sparta US HoldCo LLC                                 | Sparta US HoldCo LLC 2024 Term Loan B                                            | CUSIP: 84673EAE9<br>LEI: 5493004EFF9NBQ1A8453 | Long             | LON              | CORP              | US        |   1809915 | PA      | $1784051.36   | 0.29%             | 2030-08-02      | Floating      | 7.28%                 | No            |                  2 | On Loan: No      |
| ZI TECH LLC/ZI FIN CORP                              | ZoomInfo Technologies LLC/ZoomInfo Finance Corp                                  | CUSIP: 98981BAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    162000 | PA      | $153546.48    | 0.02%             | 2029-02-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| The Action Environmental Group Inc                   | The Action Environmental Group Inc 2023 Term Loan B                              | CUSIP: 00507JAF3<br>LEI: 549300BB30QUQC86W666 | Long             | LON              | CORP              | US        |    802776 | PA      | $801772.90    | 0.13%             | 2030-10-24      | Floating      | 7.25%                 | No            |                  3 | On Loan: No      |
| EDISON INTERNATIONAL                                 | Edison International                                                             | CUSIP: 281020AS6<br>LEI: 549300I7ROF15MAEVP56 | Long             | DBT              | CORP              | US        |     98000 | PA      | $95145.25     | 0.02%             | 2026-03-09      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL                               | NextEra Energy Capital Holdings Inc                                              | CUSIP: 65339KDB3<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |     33000 | PA      | $35466.12     | 0.01%             | 2054-06-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| DYCOM INDUSTRIES INC                                 | Dycom Industries Inc                                                             | CUSIP: 267475AD3<br>LEI: 549300F56EKTHQI3WT60 | Long             | DBT              | CORP              | US        |     37000 | PA      | $36135.83     | 0.01%             | 2029-04-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| NATIONSTAR MTG HLD INC                               | Nationstar Mortgage Holdings Inc                                                 | CUSIP: 63861CAF6<br>LEI: 549300DQF6YN0E43PM71 | Long             | DBT              | CORP              | US        |    164000 | PA      | $171183.69    | 0.03%             | 2032-02-01      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| LEGENCE HOLDINGS LLC                                 | Legence Holdings LLC 2025 Term Loan B                                            | CUSIP: 75865HAK4<br>LEI: 2549003DYOLJRQR9G070 | Long             | LON              | CORP              | US        |    257303 | PA      | $257560.54    | 0.04%             | 2028-12-18      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| TWILIO INC                                           | Twilio Inc                                                                       | CUSIP: 90138FAC6<br>LEI: 5493004W8TRGD63APX93 | Long             | DBT              | CORP              | US        |     22000 | PA      | $20964.11     | 0.00%             | 2029-03-15      | Fixed         | 3.63%                 | 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        |   1749097 | PA      | $1667658.79   | 0.27%             | 2029-03-01      | Floating      | 7.22%                 | No            |                  2 | On Loan: No      |
| BUCKEYE PARTNERS LP                                  | Buckeye Partners LP                                                              | CUSIP: 118230AV3<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |      4000 | PA      | $4145.49      | 0.00%             | 2029-07-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| FREEDOM MORTGAGE HOLD                                | Freedom Mortgage Holdings LLC                                                    | CUSIP: 35641AAB4<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |    102000 | PA      | $108482.30    | 0.02%             | 2031-05-15      | Fixed         | 9.13%                 | No            |                  2 | On Loan: No      |
| Gogo Intermediate Holdings LLC                       | GOGO Intermediate Holdings LLC Term Loan B                                       | CUSIP: 38046JAB0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    811499 | PA      | $804649.78    | 0.13%             | 2028-04-30      | Floating      | 8.03%                 | No            |                  2 | On Loan: No      |
| SBA Senior Finance II LLC                            | SBA Senior Finance II LLC 2024 Term Loan B                                       | CUSIP: 78404XAJ4<br>LEI: 549300PVT2ADFWMYEW87 | Long             | LON              | CORP              | US        |   1348940 | PA      | $1352919.42   | 0.22%             | 2031-01-25      | Floating      | 5.92%                 | No            |                  2 | On Loan: No      |
| AVALARA INC                                          | AVALARA INC 2025 TERM LOAN                                                       | CUSIP: 05338KAD9<br>LEI: 549300Q16CMW239SS315 | Long             | LON              | CORP              | US        |    111000 | PA      | $110968.92    | 0.02%             | 2032-03-26      | Floating      | 6.88%                 | No            |                  2 | On Loan: No      |
| CUSHMAN & WAKEFIELD US                               | Cushman & Wakefield US Borrower LLC                                              | CUSIP: 23166MAC7<br>LEI: 549300870CMN3WI5IF97 | Long             | DBT              | CORP              | US        |    208000 | PA      | $222002.98    | 0.04%             | 2031-09-01      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| STARWOOD PROPERTY TRUST                              | Starwood Property Trust Inc                                                      | CUSIP: 85571BBE4<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              |  | US        |    182000 | PA      | $187999.99    | 0.03%             | 2030-10-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| TRIDENT TPI HOLDINGS INC                             | Trident TPI Holdings Inc 2024 Term Loan B7                                       | CUSIP: 00216EAL3<br>LEI: 549300TPLK304J3RNC85 | Long             | LON              | CORP              | US        |   1115365 | PA      | $1093983.31   | 0.18%             | 2028-09-15      | Floating      | 7.75%                 | No            |                  2 | On Loan: No      |
| ARSENAL AIC PARENT LLC                               | Arsenal AIC Parent LLC                                                           | CUSIP: 04288BAC4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    426000 | PA      | $473127.10    | 0.08%             | 2031-10-01      | Fixed         | 11.50%                | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                 | Bank of America Corp                                                             | CUSIP: 06055HAH6<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    365000 | PA      | $379778.49    | 0.06%             | 2030-05-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| CINEMARK USA INC                                     | Cinemark USA Inc                                                                 | CUSIP: 172441BH9<br>LEI: 54930008H2137JSCPQ09 | Long             | DBT              | CORP              | US        |     19000 | PA      | $19747.71     | 0.00%             | 2032-08-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| EG AMERICA LLC                                       | EG America LLC 2025 USD Repriced Term Loan                                       | CUSIP: 000000000<br>LEI: 549300BY1CRYVPEG9R57 | Long             | LON              | CORP              | US        |    325716 | PA      | $327227.49    | 0.05%             | 2028-02-07      | Floating      | 7.70%                 | No            |                  2 | On Loan: No      |
| FORTIS 333 INC                                       | Fortis 333 Inc USD Term Loan B                                                   | CUSIP: 34958SAB5<br>LEI: 254900SLITS19RU1VB55 | Long             | LON              | CORP              | US        |    508725 | PA      | $505331.80    | 0.08%             | 2032-03-29      | Floating      | 7.50%                 | No            |                  2 | On Loan: No      |
| ACRISURE LLC / FIN INC                               | Acrisure LLC / Acrisure Finance Inc                                              | CUSIP: 004961AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     38000 | PA      | $39127.99     | 0.01%             | 2032-07-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| GRAY MEDIA INC                                       | Gray Media Inc                                                                   | CUSIP: 389375AM8<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |    101000 | PA      | $109206.37    | 0.02%             | 2029-07-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| AXON ENTERPRISE INC                                  | Axon Enterprise Inc                                                              | CUSIP: 05464CAD3<br>LEI: 549300QP2IEEGFE16681 | Long             | DBT              | CORP              | US        |     81000 | PA      | $83372.98     | 0.01%             | 2033-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| CAESARS ENTERTAIN INC                                | Caesars Entertainment Inc                                                        | CUSIP: 12769GAC4<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |    162000 | PA      | $165238.06    | 0.03%             | 2032-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ATLAS CC ACQUISITION CORP                            | Atlas CC Acquisition Corp 2025 Second Out Term Loan C                            | CUSIP: 04921TAS3<br>LEI: 6HHLXIOGCDNZ4IRAIW26 | Long             | LON              | CORP              | US        |    432069 | PA      | $246145.60    | 0.04%             | 2029-05-25      | Floating      | 8.57%                 | No            |                  2 | On Loan: No      |
| GOAT HOLDCO LLC                                      | Goat Holdco LLC                                                                  | CUSIP: 38021MAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     85000 | PA      | $87124.98     | 0.01%             | 2032-02-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| GENESEE & WYOMING INC                                | Genesee & Wyoming Inc                                                            | CUSIP: 371559AB1<br>LEI: G617XSG94Z7G0RMW3L02 | Long             | DBT              | CORP              | US        |    106000 | PA      | $107711.05    | 0.02%             | 2032-04-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| HOWARD MIDSTREAM ENERGY                              | Howard Midstream Energy Partners LLC                                             | CUSIP: 442722AC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     27000 | PA      | $28026.68     | 0.00%             | 2032-07-15      | Fixed         | 7.38%                 | 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        |      9000 | PA      | $8219.55      | 0.00%             | 2033-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Dynasty Acquisition Co Inc                           | Dynasty Acquisition Co Inc 2024 1st Lien Term Loan B1                            | CUSIP: 26812CAN6<br>LEI: 549300L1RCRPOAUCB870 | Long             | LON              | CORP              | US        |   2302261 | PA      | $2302146.14   | 0.37%             | 2031-10-31      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| ROCKET COS INC                                       | Rocket Cos Inc                                                                   | CUSIP: 77311WAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    389000 | PA      | $399238.48    | 0.06%             | 2030-08-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| TALLGRASS NRG PRTNR/FIN                              | Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp                     | CUSIP: 87470LAL5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    149000 | PA      | $153446.61    | 0.02%             | 2029-02-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| AAL Delaware Holdco Inc                              | AAL Delaware Holdco Inc 2025 Term Loan                                           | CUSIP: 00036YAD5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    391015 | PA      | $391308.34    | 0.06%             | 2031-07-30      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| AIMBRIDGE ACQUISITION CO INC                         | Aimbridge Acquisition Co Inc 2025 1st Lien Second Out Term Loan                  | CUSIP: 00900YAH9<br>LEI: 549300SPGKLVE9WYCQ20 | Long             | LON              | CORP              | US        |    186132 | PA      | $185433.67    | 0.03%             | 2030-03-11      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| MOHEGAN TRIBAL / MS DIG                              | Mohegan Tribal Gaming Authority / MS Digital Entertainment Holdings LLC          | CUSIP: 60832QAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     70000 | PA      | $72732.80     | 0.01%             | 2030-04-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| MH Sub I LLC                                         | MH Sub I LLC 2023 Term Loan                                                      | CUSIP: 45567YAN5<br>LEI: 2549005VFKP807SR8N49 | Long             | LON              | CORP              | US        |    612980 | PA      | $588718.58    | 0.10%             | 2028-05-03      | Floating      | 8.25%                 | No            |                  2 | On Loan: No      |
| DAVITA INC                                           | DaVita Inc                                                                       | CUSIP: 23918KAW8<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |     43000 | PA      | $44420.55     | 0.01%             | 2032-09-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Sabre GLBL Inc                                       | Sabre GLBL Inc 2022 1st Lien Term Loan B                                         | CUSIP: 78571YBJ8<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | LON              | CORP              | US        |     27586 | PA      | $25793.29     | 0.00%             | 2028-06-30      | Floating      | 9.26%                 | No            |                  2 | On Loan: No      |
| ONEDIGITAL BORROWER LLC                              | OneDigital Borrower LLC 2025 Repriced Term Loan                                  | CUSIP: 68277FAN9<br>LEI: 2549009GTKWWAO1E9X77 | Long             | LON              | CORP              | US        |    215000 | PA      | $214735.55    | 0.03%             | 2031-07-02      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| WALKER & DUNLOP INC                                  | Walker & Dunlop Inc                                                              | CUSIP: 93148PAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     37000 | PA      | $37837.93     | 0.01%             | 2033-04-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| American Airlines Inc                                | American Airlines Inc 2017 1st Lien Term Loan                                    | CUSIP: 02376CAX3<br>LEI: IWUQB36BXD6OWD6X4T14 | Long             | LON              | CORP              | US        |    142736 | PA      | $142260.27    | 0.02%             | 2027-01-29      | Floating      | 5.98%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                   | Energy Transfer LP                                                               | CUSIP: 29273VAX8<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    127000 | PA      | $135714.99    | 0.02%             | 2054-05-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Sabre GLBL Inc                                       | Sabre GLBL Inc 2021 Term Loan B1                                                 | CUSIP: 78571YBG4<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | LON              | CORP              | US        |    168314 | PA      | $159056.78    | 0.03%             | 2027-12-17      | Floating      | 7.78%                 | No            |                  2 | On Loan: No      |
| Rand Parent, LLC                                     | Rand Parent LLC 2025 Term Loan B                                                 | CUSIP: 75223LAD8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1768583 | PA      | $1759422.11   | 0.28%             | 2030-03-18      | Floating      | 7.00%                 | No            |                  2 | On Loan: No      |
| WESCO DISTRIBUTION INC                               | WESCO Distribution Inc                                                           | CUSIP: 95081QAS3<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |     73000 | PA      | $75673.86     | 0.01%             | 2033-03-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| AMSTED INDUSTRIES                                    | Amsted Industries Inc                                                            | CUSIP: 032177AK3<br>LEI: N2VLGYMEEBIU3PFSUY86 | Long             | DBT              | CORP              | US        |     32000 | PA      | $32844.16     | 0.01%             | 2033-03-15      | Fixed         | 6.38%                 | 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        |    250000 | PA      | $247676.08    | 0.04%             | 2031-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Oaktree CLO Ltd                                      | Oaktree CLO 2024-26 Ltd                                                          | CUSIP: 67403CAJ4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |   1500000 | PA      | $1520538.60   | 0.25%             | 2037-04-20      | Floating      | 7.78%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                        | Citigroup Inc                                                                    | CUSIP: 172967PK1<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    180000 | PA      | $185962.14    | 0.03%             | 2029-08-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| VITAL ENERGY INC                                     | Vital Energy Inc                                                                 | CUSIP: 516806AJ5<br>LEI: 549300X0PTWU2QSLSL14 | Long             | DBT              | CORP              | US        |     66000 | PA      | $68907.83     | 0.01%             | 2030-10-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| Baldwin Insurance Group Holdings LLC                 | Baldwin Insurance Group Holdings LLC 2025 Term Loan B2                           | CUSIP: 05825HAH7<br>LEI: 5493004GCDREAQPPYG20 | Long             | LON              | CORP              | US        |    957432 | PA      | $956637.16    | 0.15%             | 2031-05-26      | Floating      | 6.64%                 | No            |                  2 | On Loan: No      |
| PANTHER ESCROW ISSUER                                | Panther Escrow Issuer LLC                                                        | CUSIP: 69867RAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    796000 | PA      | $827933.93    | 0.13%             | 2031-06-01      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| Intercontinental Exchange, Inc.                      | SWAP/CDSWAP/ICE: (CDX.NA.HY.44.V1)                                               | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              |  | US        |    500000 | OU      | $40616.46     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Zelis Payments Buyer Inc                             | Zelis Payments Buyer Inc Term Loan B                                             | CUSIP: 98932TAG8<br>LEI: 549300U8NGLZN5R1Y309 | Long             | LON              | CORP              | US        |    976794 | PA      | $973941.95    | 0.16%             | 2029-09-28      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| ALIXPARTNERS LLP                                     | AlixPartners LLP 2025 USD Term Loan                                              | CUSIP: 01642PBE5<br>LEI: 5493005G2MHUFTGARL57 | Long             | LON              | CORP              | US        |   2551875 | PA      | $2533450.51   | 0.41%             | 2032-08-12      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| UNITED NATURAL FOODS INC                             | United Natural Foods Inc                                                         | CUSIP: 911163AA1<br>LEI: 549300GKGW6WPZ282D40 | Long             | DBT              | CORP              | US        |     65000 | PA      | $64994.85     | 0.01%             | 2028-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CNX RESOURCES CORP                                   | CNX Resources Corp                                                               | CUSIP: 12653CAL2<br>LEI: 549300JK3KH8PWM3B226 | Long             | DBT              | CORP              | US        |     29000 | PA      | $30085.38     | 0.00%             | 2032-03-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| NORTHERN OIL & GAS INC                               | Northern Oil & Gas Inc                                                           | CUSIP: 665531AG4<br>LEI: OKFF0PIZDDMNH4UCYE51 | Long             | DBT              | CORP              | US        |    207000 | PA      | $209922.63    | 0.03%             | 2028-03-01      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| CABLE ONE INC                                        | Cable One Inc                                                                    | CUSIP: 12685JAE5<br>LEI: 549300648QS85T0XSH18 | Long             | DBT              | CORP              | US        |     28000 | PA      | $27272.13     | 0.00%             | 2026-03-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Parexel International Corporation                    | Parexel International Corporation 2025 Term Loan B                               | CUSIP: 71911KAE4<br>LEI: 254900PHGVI5379Z9791 | Long             | LON              | CORP              | US        |   2507168 | PA      | $2508471.48   | 0.41%             | 2028-11-15      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| JAZZ FINANCING LUX SARL                              | Jazz Financing Lux Sarl 2024 1st Lien Term Loan B2                               | CUSIP: 000000000<br>LEI: 635400WUEO2NSG5OIU34 | Long             | LON              | CORP              | LU        |   1591213 | PA      | $1591976.33   | 0.26%             | 2028-05-05      | Floating      | 6.41%                 | No            |                  2 | On Loan: No      |
| CLEAN HARBORS INC                                    | CLEAN HARBORS INC 2025 TERM LOAN                                                 | CUSIP: 18449EAJ9<br>LEI: 5493000SJVZVZJKHJF48 | Long             | LON              | CORP              | US        |    548000 | PA      | $548685.00    | 0.09%             | 2032-09-24      | Floating      | 5.64%                 | No            |                  2 | On Loan: No      |
| Charter Communications Operating, LLC                | Charter Communications Operating LLC 2024 Term Loan B5                           | CUSIP: 16117LCE7<br>LEI: 549300TPZNMN50BJ3745 | Long             | LON              | CORP              | US        |    859054 | PA      | $858624.82    | 0.14%             | 2031-12-15      | Floating      | 6.54%                 | No            |                  2 | On Loan: No      |
| ICAHN ENTERPRISES/FIN                                | Icahn Enterprises LP / Icahn Enterprises Finance Corp                            | CUSIP: 451102CC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     31000 | PA      | $26759.49     | 0.00%             | 2029-02-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| SEAGATE DATA STORAGE TECHNOLOG                       | SEAGATE DATA STOR                                                                | CUSIP: 81180LAM7<br>LEI: N/A                  | Long             | DBT              | CORP              | SG        |     54000 | PA      | $57164.51     | 0.01%             | 2029-12-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| OUTFRONT MEDIA CAP LLC/C                             | Outfront Media Capital LLC / Outfront Media Capital Corp                         | CUSIP: 69007TAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     24000 | PA      | $23879.39     | 0.00%             | 2027-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FAIR ISAAC CORP                                      | Fair Isaac Corp                                                                  | CUSIP: 303250AG9<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | DBT              | CORP              | US        |    346000 | PA      | $350305.34    | 0.06%             | 2033-05-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| VIKING CRUISES LTD                                   | Viking Cruises Ltd                                                               | CUSIP: 92676XAG2<br>LEI: 549300IJP90T4MV2GL84 | Long             | DBT              | CORP              | BM        |    177000 | PA      | $189977.64    | 0.03%             | 2031-07-15      | Fixed         | 9.13%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                                | Level 3 Financing Inc                                                            | CUSIP: 527298CM3<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    616500 | PA      | $628324.47    | 0.10%             | 2033-06-30      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| ACP TARA HOLDINGS INC                                | ACP TARA HOLDINGS INC 2025 TERM LOAN B                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    257000 | PA      | $257000.00    | 0.04%             | 2032-09-17      | Floating      | 7.38%                 | No            |                  3 | On Loan: No      |
| ALLIED UNIVERSAL                                     | Allied Universal Holdco LLC / Allied Universal Finance Corp                      | CUSIP: 019576AC1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    515000 | PA      | $506272.76    | 0.08%             | 2029-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NABORS INDUSTRIES INC                                | Nabors Industries Inc                                                            | CUSIP: 62957HAJ4<br>LEI: 549300VFQWRKICUFNU92 | Long             | DBT              | CORP              | US        |     36000 | PA      | $36543.89     | 0.01%             | 2027-05-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| QUIKRETE HOLDINGS INC                                | Quikrete Holdings Inc                                                            | CUSIP: 74843PAA8<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |    411000 | PA      | $425731.88    | 0.07%             | 2032-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Fertitta Entertainment LLC                           | Fertitta Entertainment LLC 2022 Term Loan B                                      | CUSIP: 31556PAB3<br>LEI: 984500A0805D8V551D35 | Long             | LON              | CORP              | US        |   3925154 | PA      | $3918245.53   | 0.63%             | 2029-01-27      | Floating      | 7.41%                 | No            |                  2 | On Loan: No      |
| WASTE PRO USA INC                                    | Waste Pro USA Inc                                                                | CUSIP: 94107JAC7<br>LEI: 549300BY1QXU5BI3UF28 | Long             | DBT              | CORP              | US        |    448000 | PA      | $464037.06    | 0.07%             | 2033-02-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. INTERNATIONAL                   | TRSWAP: IBXXLLTR INDEX                                                           | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DIR              |  | US        |   4000000 | OU      | $95590.32     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                                | Venture Global Plaquemines LNG LLC                                               | CUSIP: 922966AB2<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |     81000 | PA      | $91425.37     | 0.01%             | 2035-05-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                 | Bank of America Corp                                                             | CUSIP: 06055HAK9<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    155000 | PA      | $156980.37    | 0.03%             | 2030-07-26      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Project Boost Purchaser LLC                          | Project Boost Purchaser LLC 2025 Refinancing Term Loan                           | CUSIP: 74339NAG1<br>LEI: 254900SVSL94NTLSDY26 | Long             | LON              | CORP              | US        |   2205190 | PA      | $2198309.49   | 0.36%             | 2031-07-16      | Floating      | 7.07%                 | No            |                  2 | On Loan: No      |
| CP Atlas Buyer, Inc.                                 | CP Atlas Buyer Inc 2025 Term Loan                                                | CUSIP: 12658HAL6<br>LEI: 2549006ZZ07G0NDDCR36 | Long             | LON              | CORP              | US        |   1175000 | PA      | $1148562.50   | 0.19%             | 2030-07-08      | Floating      | 9.41%                 | No            |                  2 | On Loan: No      |
| WEX INC                                              | WEX Inc 2025 Incremental Term Loan B                                             | CUSIP: 96208UAX9<br>LEI: T9M5IGROL1TL1G5OV478 | Long             | LON              | CORP              | US        |    422875 | PA      | $420891.72    | 0.07%             | 2032-03-05      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| LABL INC                                             | LABL Inc                                                                         | CUSIP: 50168QAC9<br>LEI: 5493004FUZN8R6Y3VB98 | Long             | DBT              | CORP              | US        |     83000 | PA      | $64308.83     | 0.01%             | 2028-11-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Peraton Corp                                         | Peraton Corp Term Loan B                                                         | CUSIP: 71360HAB3<br>LEI: 549300EQPCK07ZW63836 | Long             | LON              | CORP              | US        |   1628222 | PA      | $1370360.73   | 0.22%             | 2028-02-01      | Floating      | 8.01%                 | No            |                  2 | On Loan: No      |
| GLOBAL NET LEASE/GLOBAL                              | Global Net Lease Inc / Global Net Lease Operating Partnership LP                 | CUSIP: 37892AAA8<br>LEI: N/A                  | Long             | DBT              |  | US        |     35000 | PA      | $33971.12     | 0.01%             | 2027-12-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| PLANVIEW PARENT INC                                  | Planview Parent Inc 2024 1st Lien Term Loan                                      | CUSIP: 72751PAJ3<br>LEI: 549300SEALM1D9FKMA32 | Long             | LON              | CORP              | US        |    298864 | PA      | $293881.90    | 0.05%             | 2027-12-17      | Floating      | 7.50%                 | No            |                  2 | On Loan: No      |
| CONNECT FINCO SARL/CONNE                             | Connect Finco SARL / Connect US Finco LLC                                        | CUSIP: 20752TAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    200000 | PA      | $210280.96    | 0.03%             | 2029-09-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Summer (BC) Holdco B Sa rl                           | Summer (BC) Holdco B Sa rl 2024 USD Term Loan B                                  | CUSIP: 000000000<br>LEI: 984500NRF59D5DB9B654 | Long             | LON              | CORP              | LU        |    247746 | PA      | $243204.42    | 0.04%             | 2029-02-15      | Floating      | 9.26%                 | No            |                  2 | On Loan: No      |
| ASURION LLC                                          | Asurion LLC 2024 Term Loan B12                                                   | CUSIP: 04649VBD1<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |    732347 | PA      | $729256.12    | 0.12%             | 2030-09-19      | Floating      | 8.41%                 | No            |                  2 | On Loan: No      |
| CNT HOLDINGS I CORP                                  | CNT Holdings I Corp 2025 Term Loan                                               | CUSIP: 12656AAF6<br>LEI: 254900SYIEHMSB69WT08 | Long             | LON              | CORP              | US        |   1324714 | PA      | $1323561.14   | 0.21%             | 2032-11-08      | Floating      | 6.56%                 | No            |                  2 | On Loan: No      |
| AMERITEX HOLDCO INTERMED                             | AmeriTex HoldCo Intermediate LLC                                                 | CUSIP: 030727AB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     70000 | PA      | $72855.20     | 0.01%             | 2033-08-15      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| GO DADDY OPERATING COMPANY LLC                       | Go Daddy Operating Company LLC 2024 Term Loan B7                                 | CUSIP: 38017BAW6<br>LEI: 5493005GJOH8HLL11157 | Long             | LON              | CORP              | US        |   2289142 | PA      | $2284952.83   | 0.37%             | 2031-05-30      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| COREBRIDGE FINANCIAL INC                             | Corebridge Financial Inc                                                         | CUSIP: 21871XAT6<br>LEI: 549300XY1661QCIA7J65 | Long             | DBT              | CORP              | US        |     59000 | PA      | $60557.54     | 0.01%             | 2054-09-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| SEALED AIR CORP                                      | Sealed Air Corp                                                                  | CUSIP: 81211KBA7<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | DBT              | CORP              | US        |     15000 | PA      | $14916.31     | 0.00%             | 2029-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CSC Holdings LLC                                     | CSC Holdings LLC                                                                 | CUSIP: 126307AQ0<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    200000 | PA      | $189825.65    | 0.03%             | 2027-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Restoration Hardware Inc                             | Restoration Hardware Inc 2022 Incremental Term Loan                              | CUSIP: 76133MAC5<br>LEI: 549300H9H1H3OC7C3H47 | Long             | LON              | CORP              | US        |    280225 | PA      | $273919.49    | 0.04%             | 2028-10-20      | Floating      | 7.51%                 | No            |                  2 | On Loan: No      |
| 1261229 BC LTD                                       | 1261229 BC Ltd                                                                   | CUSIP: 68288AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   1655000 | PA      | $1696461.13   | 0.27%             | 2032-04-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| FOCUS FINANCIAL PARTNERS LLC                         | Focus Financial Partners LLC 2025 Incremental Term Loan B                        | CUSIP: 34416DBD9<br>LEI: 5493007L0E0VKRC2CP39 | Long             | LON              | CORP              | US        |   1725288 | PA      | $1725460.78   | 0.28%             | 2031-09-15      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| VERITAS SERIES G PREFERRED STO                       | VERITAS SERIES G PREFERRED STO                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |      1882 | NS      | $42821.19     | 0.01%             |  |  |  | No            |                  3 | On Loan: No      |
| ALLIANT HOLD / CO-ISSUER                             | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                   | CUSIP: 01883LAE3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     37000 | PA      | $37655.83     | 0.01%             | 2028-04-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ARCLINE FM HOLDINGS LLC                              | Arcline FM Holdings LLC 2025 Term Loan                                           | CUSIP: 03960DAH6<br>LEI: 2549000HKCEC1E8UTO17 | Long             | LON              | CORP              | US        |    798998 | PA      | $798374.28    | 0.13%             | 2030-06-24      | Floating      | 7.58%                 | No            |                  2 | On Loan: No      |
| ECHOSTAR CORP                                        | EchoStar Corp                                                                    | CUSIP: 278768AC0<br>LEI: 549300EE20907QZ9GT38 | Long             | DBT              | CORP              | US        |    333781 | PA      | $367215.84    | 0.06%             | 2029-11-30      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                                 | OneMain Finance Corp                                                             | CUSIP: 682691AM2<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    136000 | PA      | $136214.88    | 0.02%             | 2033-03-15      | Fixed         | 6.50%                 | 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        |      7000 | PA      | $6370.46      | 0.00%             | 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        |     88000 | PA      | $85043.10     | 0.01%             | 2029-11-15      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| CHOBANI LLC                                          | Chobani LLC 2025 Repriced Term Loan B                                            | CUSIP: 17026YAK5<br>LEI: 549300ISVDMZ91KNTR38 | Long             | LON              | CORP              | US        |   3640292 | PA      | $3648628.77   | 0.59%             | 2027-10-25      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| API GROUP DE INC                                     | APi Group DE Inc                                                                 | CUSIP: 00185PAA9<br>LEI: 549300XP4G7B4QYA0G83 | Long             | DBT              | CORP              | US        |     32000 | PA      | $31369.92     | 0.01%             | 2029-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| GGAM FINANCE LTD                                     | GGAM Finance Ltd                                                                 | CUSIP: 36170JAD8<br>LEI: 254900X2QXEN0FVXRF65 | Long             | DBT              | CORP              | KY        |     65000 | PA      | $67405.72     | 0.01%             | 2029-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Serta Simmons Bedding LLC                            | Serta Simmons Bedding LLC 2023 New Term Loan                                     | CUSIP: 81753HAJ0<br>LEI: 549300M4F4V4WFPNI116 | Long             | LON              | CORP              | US        |    439609 | PA      | $410564.43    | 0.07%             | 2028-06-29      | Floating      | 11.62%                | No            |                  2 | On Loan: No      |
| DELTA 2 LUX SARL                                     | Delta 2 (LUX) Sarl 2024 Term Loan B2                                             | CUSIP: 000000000<br>LEI: 549300BBG8Z3D6QSYP53 | Long             | LON              | CORP              | LU        |    855628 | PA      | $855362.95    | 0.14%             | 2031-09-30      | Floating      | 5.99%                 | No            |                  2 | On Loan: No      |
| ASBURY AUTOMOTIVE GROUP                              | Asbury Automotive Group Inc                                                      | CUSIP: 043436AX2<br>LEI: 549300JH4DTA7U42GL91 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24005.81     | 0.00%             | 2032-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HAT HOLDINGS I LLC/HAT                               | HAT Holdings I LLC / HAT Holdings II LLC                                         | CUSIP: 418751AL7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     15000 | PA      | $15616.24     | 0.00%             | 2027-06-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Prime Security Services Borrower, LLC                | Prime Security Services Borrower LLC 2025 Incremental Term Loan B                | CUSIP: 03765VAQ3<br>LEI: 549300O6QPZVWXV2DC15 | Long             | LON              | CORP              | US        |   1220187 | PA      | $1207789.60   | 0.20%             | 2032-03-07      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| DARLING GLOBAL FINANCE                               | Darling Global Finance BV                                                        | CUSIP: 000000000<br>LEI: 724500R2BQXOR6YG2Y67 | Long             | DBT              | CORP              | NL        |    100000 | PA      | $118535.35    | 0.02%             | 2032-07-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| OSAIC HOLDINGS INC                                   | Osaic Holdings Inc                                                               | CUSIP: 00791GAC1<br>LEI: 549300XL60BDV6UW5C86 | Long             | DBT              | CORP              | US        |     68000 | PA      | $70475.00     | 0.01%             | 2033-08-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| WOOF HOLDINGS INC                                    | WOOF Holdings Inc 2025 Second Out Exchange Term Loan                             | CUSIP: 95004UAC3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    127850 | PA      | $54975.62     | 0.01%             | 2029-12-31      | Floating      | 8.01%                 | No            |                  2 | On Loan: No      |
| PREMIER ENTERTAINMENT SU                             | Premier Entertainment Sub LLC / Premier Entertainment Finance Corp               | CUSIP: 74052HAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     34000 | PA      | $18360.00     | 0.00%             | 2029-09-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| LABL INC                                             | LABL Inc                                                                         | CUSIP: 50168QAF2<br>LEI: 5493004FUZN8R6Y3VB98 | Long             | DBT              | CORP              | US        |    148000 | PA      | $108725.79    | 0.02%             | 2031-10-01      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                                    | Iron Mountain Inc                                                                | CUSIP: 46284VAJ0<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              |  | US        |      6000 | PA      | $5933.80      | 0.00%             | 2030-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TALLGRASS NRG PRTNR/FIN                              | Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp                     | CUSIP: 87470LAK7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     32000 | PA      | $31309.51     | 0.01%             | 2031-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| PERMIAN RESOURC OPTG LLC                             | Permian Resources Operating LLC                                                  | CUSIP: 27034RAA1<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |     70000 | PA      | $71087.24     | 0.01%             | 2027-04-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| NATIONSTAR MTG HLD INC                               | Nationstar Mortgage Holdings Inc                                                 | CUSIP: 63861CAG4<br>LEI: 549300DQF6YN0E43PM71 | Long             | DBT              | CORP              | US        |    172000 | PA      | $176452.74    | 0.03%             | 2029-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| WILSONART LLC                                        | Wilsonart LLC 2024 Term Loan B                                                   | CUSIP: 97246FAM8<br>LEI: 549300SAZRUMYKDJBY14 | Long             | LON              | CORP              | US        |   2851726 | PA      | $2751915.75   | 0.44%             | 2031-08-05      | Floating      | 8.25%                 | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GROUP INC                             | Cloud Software Group Inc 2025 Term Loan B (2032)                                 | CUSIP: 88632NBL3<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | LON              | CORP              | US        |   3572600 | PA      | $3582781.65   | 0.58%             | 2032-08-13      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| Altice Financing SA                                  | Altice Financing SA USD 2017 1st Lien Term Loan                                  | CUSIP: 000000000<br>LEI: 549300DIYGW8HVDF7Q17 | Long             | LON              | CORP              | LU        |   1672818 | PA      | $1605905.16   | 0.26%             | 2026-01-31      | Floating      | 9.00%                 | No            |                  3 | On Loan: No      |
| SABLE INTL FINANCE LTD                               | Sable International Finance Ltd                                                  | CUSIP: 785712AK6<br>LEI: 2138009IE9A35LO5JS73 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $202605.00    | 0.03%             | 2032-10-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| Coherent Corp                                        | Coherent Corp 2025 1st Lien Term Loan B2                                         | CUSIP: 45173JAS3<br>LEI: 549300O5C25A0MMHHU33 | Long             | LON              | CORP              | US        |    782919 | PA      | $781408.44    | 0.13%             | 2029-07-02      | Floating      | 6.13%                 | No            |                  2 | On Loan: No      |
| BOOTS GROUP FINCO LP                                 | Boots Group Finco LP                                                             | CUSIP: 000000000<br>LEI: 254900YVLYOVF1PF1N93 | Long             | DBT              | CORP              | US        |    115000 | PA      | $138898.18    | 0.02%             | 2032-08-31      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| CoreLogic Inc                                        | CoreLogic Inc Term Loan                                                          | CUSIP: 21870FBA6<br>LEI: 54930086CD8K2UIL0516 | Long             | LON              | CORP              | US        |   1624803 | PA      | $1623275.80   | 0.26%             | 2028-06-02      | Floating      | 7.78%                 | No            |                  2 | On Loan: No      |
| ATI INC                                              | ATI Inc                                                                          | CUSIP: 01741RAN2<br>LEI: ZW1LRE7C3H17O2ZN9B45 | Long             | DBT              | CORP              | US        |    103000 | PA      | $108117.56    | 0.02%             | 2030-08-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| WEBER STEPHEN PRODUCTS LLC                           | WEBER STEPHEN PRODUCTS LLC 2025 TERM LOAN B                                      | CUSIP: 000000000<br>LEI: 549300XU8TJBBGLK8V26 | Long             | LON              | CORP              | US        |   1428000 | PA      | $1411935.00   | 0.23%             | 2032-09-17      | Floating      | 7.88%                 | No            |                  2 | On Loan: No      |
| API GROUP DE INC                                     | APi Group DE Inc 2025 Term Loan                                                  | CUSIP: 00186XAN3<br>LEI: 549300XP4G7B4QYA0G83 | Long             | LON              | CORP              | US        |   2407271 | PA      | $2404936.13   | 0.39%             | 2029-01-03      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| CLYDESDALE ACQUISITION                               | Clydesdale Acquisition Holdings Inc                                              | CUSIP: 18972EAB1<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |    189000 | PA      | $194148.93    | 0.03%             | 2030-04-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| SERVICE PROPERTIES TRUST                             | Service Properties Trust                                                         | CUSIP: 81761LAF9<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              |  | US        |     83000 | PA      | $73167.01     | 0.01%             | 2027-09-30      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                             | Hilcorp Energy I LP / Hilcorp Finance Co                                         | CUSIP: 431318AU8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     54000 | PA      | $53195.35     | 0.01%             | 2029-02-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| IPS Corporation                                      | IPS Corporation 2021 Term Loan                                                   | CUSIP: 12659EAC2<br>LEI: 25490024F0AS5UR7DB02 | Long             | LON              | CORP              | US        |   1471208 | PA      | $1468912.53   | 0.24%             | 2028-10-02      | Floating      | 7.66%                 | No            |                  2 | On Loan: No      |
| GrafTech Finance Inc                                 | GrafTech Finance Inc 2024 Term Loan                                              | CUSIP: 000000000<br>LEI: 1Z010BU876CF2HDBIN43 | Long             | LON              | CORP              | US        |     25357 | PA      | $25750.16     | 0.00%             | 2029-12-21      | Floating      | 10.16%                | No            |                  2 | On Loan: No      |
| VERITAS SERIES G 1 PREFERRED                         | VERITAS SERIES G 1 PREFERRED                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |      1301 | NS      | $29597.75     | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| CREATIVE ARTISTS AGENCY LLC                          | Creative Artists Agency LLC 2025 Repriced Term Loan B                            | CUSIP: 22526WAU2<br>LEI: 5493008FV5TCFL3KHH96 | Long             | LON              | CORP              | US        |   2981004 | PA      | $2984104.25   | 0.48%             | 2031-10-01      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| TransDigm Inc                                        | TransDigm Inc 2025 Term Loan M                                                   | CUSIP: 89364MCE2<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | LON              | CORP              | US        |   3005000 | PA      | $3001153.60   | 0.48%             | 2032-08-19      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| K HOVNANIAN ENTERPRISES                              | K Hovnanian Enterprises Inc                                                      | CUSIP: 48251UAQ1<br>LEI: 549300JJCQ0KAI7CJG32 | Long             | DBT              | CORP              | US        |    103000 | PA      | $105600.95    | 0.02%             | 2033-10-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Nomad Foods US LLC                                   | Nomad Foods US LLC 2023 Term Loan B5                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    893155 | PA      | $893494.18    | 0.14%             | 2029-11-12      | Floating      | 6.54%                 | No            |                  2 | On Loan: No      |
| X Corp.                                              | X Corp Term Loan                                                                 | CUSIP: 90184NAG3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2437787 | PA      | $2389372.46   | 0.39%             | 2029-10-26      | Floating      | 10.96%                | No            |                  2 | On Loan: No      |
| FIESTA PURCHASER INC                                 | Fiesta Purchaser Inc                                                             | CUSIP: 31659AAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     80000 | PA      | $86367.36     | 0.01%             | 2032-09-15      | Fixed         | 9.63%                 | No            |                  2 | On Loan: No      |
| TEXAS COMPETITIVE ELECTRIC HOL                       | Texas Competitive Electric HOL Corp Bond                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2375000 | PA      | $0.24         | 0.00%             | 2021-11-10      | Floating      | 5.03%                 | No            |                  3 | On Loan: No      |
| ADVANCED DRAINAGE SYSTEM                             | Advanced Drainage Systems Inc                                                    | CUSIP: 00790RAB0<br>LEI: 6QQTOZ5MF5DHM7K92I60 | Long             | DBT              | CORP              | US        |    184000 | PA      | $187258.82    | 0.03%             | 2030-06-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| CRESCENT ENERGY FINANCE                              | Crescent Energy Finance LLC                                                      | CUSIP: 45344LAG8<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |    120000 | PA      | $121583.70    | 0.02%             | 2034-01-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| BIG RIVER STEEL/BRS FIN                              | Big River Steel LLC / BRS Finance Corp                                           | CUSIP: 08949LAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    296000 | PA      | $296115.74    | 0.05%             | 2029-01-31      | Fixed         | 6.63%                 | 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        |         0 | PA      | $0.00         | 0.00%             | 2029-09-27      | Floating      | 8.67%                 | No            |                  2 | On Loan: No      |
| ASCENT RESOURCES/ARU FIN                             | Ascent Resources Utica Holdings LLC / ARU Finance Corp                           | CUSIP: 04364VAU7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     89000 | PA      | $88816.79     | 0.01%             | 2029-06-30      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| POST HOLDINGS INC                                    | Post Holdings Inc                                                                | CUSIP: 737446AV6<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |     76000 | PA      | $76707.48     | 0.01%             | 2033-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| DISH DBS CORP                                        | DISH DBS Corp                                                                    | CUSIP: 25470XBF1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    215000 | PA      | $206107.60    | 0.03%             | 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        |     34000 | PA      | $34783.16     | 0.01%             | 2030-01-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| ILLUMINATE BUYER/HLDG                                | Illuminate Buyer LLC / Illuminate Holdings IV Inc                                | CUSIP: 45232TAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     77000 | PA      | $77243.32     | 0.01%             | 2028-07-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Medical Solutions Holdings Inc                       | Medical Solutions Holdings Inc 2021 1st Lien Term Loan                           | CUSIP: 58462QAH4<br>LEI: 549300JH2XHZ7TIKYR39 | Long             | LON              | CORP              | US        |    537316 | PA      | $184224.14    | 0.03%             | 2028-11-01      | Floating      | 7.91%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                                | Tenet Healthcare Corp                                                            | CUSIP: 88033GDU1<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    437000 | PA      | $452416.82    | 0.07%             | 2031-05-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Citadel Securities LP                                | Citadel Securities LP 2024 First Lien Term Loan                                  | CUSIP: 17288YAN2<br>LEI: 549300NV5RXBUS3X7L47 | Long             | LON              | CORP              | US        |   1339928 | PA      | $1342111.71   | 0.22%             | 2031-10-31      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| ATI INC                                              | ATI Inc                                                                          | CUSIP: 01741RAM4<br>LEI: ZW1LRE7C3H17O2ZN9B45 | Long             | DBT              | CORP              | US        |     88000 | PA      | $86602.93     | 0.01%             | 2031-10-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| SIRVA BGRS HOLDINGS INC                              | SIRVA BGRS HOLDINGS INC                                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1661 | NS      | $1383.38      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| MEDLINE BORROWER LP                                  | Medline Borrower LP                                                              | CUSIP: 62482BAA0<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |    157000 | PA      | $151417.70    | 0.02%             | 2029-04-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| WABASH NATIONAL CORP                                 | Wabash National Corp                                                             | CUSIP: 929566AL1<br>LEI: 5299004ZAWHQZI5XO485 | Long             | DBT              | CORP              | US        |     44000 | PA      | $40823.95     | 0.01%             | 2028-10-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ALPHA GENERATION LLC                                 | Alpha Generation LLC                                                             | CUSIP: 02073LAA9<br>LEI: 254900K5V62L4YGVKF49 | Long             | DBT              | CORP              | US        |     69000 | PA      | $71228.04     | 0.01%             | 2032-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| SOMNIGROUP INTL INC                                  | Somnigroup International Inc                                                     | CUSIP: 88023UAJ0<br>LEI: 549300HFEKVR3US71V91 | Long             | DBT              | CORP              | US        |     23000 | PA      | $21065.07     | 0.00%             | 2031-10-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| GOODYEAR TIRE & RUBBER                               | Goodyear Tire & Rubber Co/The                                                    | CUSIP: 382550BJ9<br>LEI: 5493002BI0S2ZQUY3437 | Long             | DBT              | CORP              | US        |      3000 | PA      | $2835.00      | 0.00%             | 2031-04-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Corpay Technologies Operating Company LLC            | Corpay Technologies Operating Company LLC Term Loan B5                           | CUSIP: 33903RAZ2<br>LEI: 549300FKKKZCXLK48427 | Long             | LON              | CORP              | US        |   2528685 | PA      | $2523956.72   | 0.41%             | 2028-04-28      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| X.AI Corp                                            | XAI Corp Term Loan                                                               | CUSIP: 98402XAC9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1005692 | PA      | $971750.38    | 0.16%             | 2030-06-28      | Floating      | 11.12%                | No            |                  2 | On Loan: No      |
| BELRON UK FINANCE PLC                                | Belron UK Finance PLC                                                            | CUSIP: 080782AA3<br>LEI: 9845006BC9D1A77B8178 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $202606.80    | 0.03%             | 2029-10-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                       | NRG Energy Inc                                                                   | CUSIP: 629377DD1<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    510000 | PA      | $510073.25    | 0.08%             | 2036-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Elanco Animal Health Incorporated                    | Elanco Animal Health Inc Term Loan B                                             | CUSIP: 28414BAF3<br>LEI: 549300SHPNDCE059M934 | Long             | LON              | CORP              | US        |    750958 | PA      | $749959.18    | 0.12%             | 2027-08-01      | Floating      | 6.13%                 | No            |                  2 | On Loan: No      |
| CHURCHILL DOWNS INC                                  | Churchill Downs Inc                                                              | CUSIP: 12511VAA6<br>LEI: 529900FODTBQC8MIS994 | Long             | DBT              | CORP              | US        |    292000 | PA      | $291736.73    | 0.05%             | 2030-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Aretec Group Inc                                     | Aretec Group Inc 2024 1st Lien Term Loan B                                       | CUSIP: 04009DAH7<br>LEI: 549300NV2T8A33L0PQ58 | Long             | LON              | CORP              | US        |    540581 | PA      | $540494.99    | 0.09%             | 2030-08-09      | Floating      | 7.66%                 | No            |                  2 | On Loan: No      |
| X Corp.                                              | X Corp 2025 Fixed Term Loan                                                      | CUSIP: 90184NAK4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    169000 | PA      | $169398.84    | 0.03%             | 2029-10-26      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| NAKED JUICE LLC                                      | Naked Juice LLC 2025 FLTO Term Loan                                              | CUSIP: 62984CAN3<br>LEI: 549300Y5TU1XQ1KVLJ64 | Long             | LON              | CORP              | US        |    562832 | PA      | $228886.94    | 0.04%             | 2030-01-24      | Floating      | 10.10%                | No            |                  2 | On Loan: No      |
| GARDA WORLD SECURITY                                 | Garda World Security Corp                                                        | CUSIP: 36485MAM1<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | DBT              | CORP              | CA        |    123000 | PA      | $126087.79    | 0.02%             | 2028-02-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| ADELPHIA COMMUNICATIONS CORP                         | ADELPHIA COMMUNICATIONS CORP                                                     | CUSIP: 006ESCAR8<br>LEI: 2138003CXB8DBPZ4VU56 | Long             | DBT              | CORP              | US        |    400000 | PA      | $0.04         | 0.00%             | 2049-12-31      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| Sycamore Tree CLO Ltd                                | Sycamore Tree CLO 2023-3 Ltd                                                     | CUSIP: 87122FAW6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1590000 | PA      | $1612980.27   | 0.26%             | 2037-04-20      | Floating      | 8.58%                 | No            |                  2 | On Loan: No      |
| Learning Care Group (US) No 2 Inc                    | Learning Care Group (US) No 2 Inc 2024 Term Loan B                               | CUSIP: 52200MAL4<br>LEI: 5493000VMN44LK8QID23 | Long             | LON              | CORP              | US        |    195035 | PA      | $191134.24    | 0.03%             | 2028-08-11      | Floating      | 8.32%                 | No            |                  3 | On Loan: No      |
| MIDCAP FINANCIAL                                     | Midcap Financial Issuer Trust                                                    | CUSIP: 59590AAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $188582.00    | 0.03%             | 2030-01-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| LABL Inc                                             | LABL Inc 2021 USD 1st Lien Term Loan                                             | CUSIP: 50168EAN2<br>LEI: 5493004FUZN8R6Y3VB98 | Long             | LON              | CORP              | US        |   1634316 | PA      | $1336053.08   | 0.22%             | 2028-10-30      | Floating      | 9.26%                 | No            |                  2 | On Loan: No      |
| NGL ENRGY OP/FIN CORP                                | NGL Energy Operating LLC / NGL Energy Finance Corp                               | CUSIP: 62922LAD0<br>LEI: 5299005YSRP46BE8Z459 | Long             | DBT              | CORP              | US        |    200000 | PA      | $204929.20    | 0.03%             | 2032-02-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                       | NRG Energy Inc                                                                   | CUSIP: 629377CU4<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    145000 | PA      | $158103.07    | 0.03%             | 2028-03-15      | Fixed         | 10.25%                | No            |                  2 | On Loan: No      |
| ZAYO GROUP HOLDINGS INC                              | ZAYO GROUP HOLDINGS INC 2025 USD TERM LOAN                                       | CUSIP: 98919XAH4<br>LEI: 529900Z6OTS7RT0V0I47 | Long             | LON              | CORP              | US        |    205000 | PA      | $198679.85    | 0.03%             | 2030-03-11      | Floating      | 7.61%                 | No            |                  2 | On Loan: No      |
| OLYMPUS WTR US HLDG CORP                             | Olympus Water US Holding Corp                                                    | CUSIP: 681639AD2<br>LEI: 549300YU2GGVCBN3MY89 | Long             | DBT              | CORP              | US        |    400000 | PA      | $405510.00    | 0.07%             | 2031-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| APOLLO DEBT SOLUTIONS BD                             | Apollo Debt Solutions BDC                                                        | CUSIP: 03770DAE3<br>LEI: 549300UMUGX092P8DW87 | Long             | DBT              | CORP              | US        |      9000 | PA      | $9444.47      | 0.00%             | 2032-03-15      | Fixed         | 6.55%                 | No            |                  2 | On Loan: No      |
| GENERAC POWER SYSTEMS INC                            | Generac Power Systems Inc 2024 Term Loan B                                       | CUSIP: 36874VAQ1<br>LEI: 549300JQWLGGW8KC1X38 | Long             | LON              | CORP              | US        |    287100 | PA      | $288176.63    | 0.05%             | 2031-07-03      | Floating      | 6.03%                 | No            |                  2 | On Loan: No      |
| FOCUS FINANCIAL PARTNERS                             | Focus Financial Partners LLC                                                     | CUSIP: 34417VAA5<br>LEI: 5493007L0E0VKRC2CP39 | Long             | DBT              | CORP              | US        |    202000 | PA      | $206871.84    | 0.03%             | 2031-09-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP INC                               | Cloud Software Group Inc                                                         | CUSIP: 18912UAC6<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |    703000 | PA      | $745709.63    | 0.12%             | 2032-06-30      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| DIRECTV FIN LLC/COINC                                | Directv Financing LLC / Directv Financing Co-Obligor Inc                         | CUSIP: 25461LAD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    171000 | PA      | $170748.97    | 0.03%             | 2031-02-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                                    | Iron Mountain Inc                                                                | CUSIP: 46284VAL5<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              |  | US        |     44000 | PA      | $43765.13     | 0.01%             | 2032-07-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                        | Citigroup Inc                                                                    | CUSIP: 172967PR6<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101526.61    | 0.02%             | 2030-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| MCAFEE CORP                                          | McAfee Corp                                                                      | CUSIP: 579063AB4<br>LEI: 2549009UKR8UEZYVCR93 | Long             | DBT              | CORP              | US        |    133000 | PA      | $123369.66    | 0.02%             | 2030-02-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| CAESARS ENTERTAIN INC                                | Caesars Entertainment Inc                                                        | CUSIP: 12769GAA8<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |    338000 | PA      | $323207.53    | 0.05%             | 2029-10-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Setanta Aircraft Leasing Designated Activity Company | Setanta Aircraft Leasing Designated Activity Company 2024 Term Loan B            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | IE        |    411250 | PA      | $413133.53    | 0.07%             | 2028-11-05      | Floating      | 5.75%                 | No            |                  2 | On Loan: No      |
| DIGITAL REALTY TRUST LP                              | Digital Realty Trust LP                                                          | CUSIP: 25389JAX4<br>LEI: CD4SPTZ3YBTHY0C1AH38 | Long             | DBT              |  | US        |     20000 | PA      | $21000.00     | 0.00%             | 2029-11-15      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| AI AQUA MERGER SUB INC                               | AI Aqua Merger Sub Inc 2024 1st Lien Term Loan B                                 | CUSIP: 00132UAP9<br>LEI: 5493005QMH1D47U26R45 | Long             | LON              | CORP              | US        |   1959567 | PA      | $1963074.58   | 0.32%             | 2028-07-31      | Floating      | 7.28%                 | No            |                  2 | On Loan: No      |
| WR GRACE HOLDING LLC                                 | WR Grace Holdings LLC                                                            | CUSIP: 92943GAE1<br>LEI: 549300WNOVFRGYOAEB12 | Long             | DBT              | CORP              | US        |    148000 | PA      | $150931.73    | 0.02%             | 2031-03-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| KAISER ALUMINUM CORP                                 | Kaiser Aluminum Corp                                                             | CUSIP: 483007AL4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    468000 | PA      | $441104.23    | 0.07%             | 2031-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ITT HOLDINGS LLC                                     | ITT Holdings LLC                                                                 | CUSIP: 45074JAA2<br>LEI: 549300TH2PHOLK31LB42 | Long             | DBT              | CORP              | US        |    149000 | PA      | $146487.06    | 0.02%             | 2029-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Cotiviti Corporation                                 | Cotiviti Corporation 2024 Fixed Term Loan B                                      | CUSIP: 22164MAD9<br>LEI: 254900YAQHVRTG4IFI64 | Long             | LON              | CORP              | US        |   1037215 | PA      | $1040129.57   | 0.17%             | 2031-05-01      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| CHEMOURS CO                                          | Chemours Co/The                                                                  | CUSIP: 163851AJ7<br>LEI: 549300M1BOLNXL8DOV14 | Long             | DBT              | CORP              | US        |     73000 | PA      | $72610.50     | 0.01%             | 2033-01-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| REWORLD HOLDING CORP                                 | Reworld Holding Corp Term Loan B                                                 | CUSIP: 22282GAM9<br>LEI: 40XIFLS8XDQGGHGPGC04 | Long             | LON              | CORP              | US        |    967047 | PA      | $967047.44    | 0.16%             | 2028-11-30      | Floating      | 6.39%                 | No            |                  2 | On Loan: No      |
| Barracuda Networks Inc                               | Barracuda Networks Inc 2022 Term Loan                                            | CUSIP: 06832FAB3<br>LEI: 549300CXGRZWNMPU8080 | Long             | LON              | CORP              | US        |   1062785 | PA      | $887298.04    | 0.14%             | 2029-08-15      | Floating      | 8.81%                 | No            |                  2 | On Loan: No      |
| Vistra Operations Company LLC                        | Vistra Operations Company LLC 1st Lien Term Loan B3                              | CUSIP: 88233FAK6<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | LON              | CORP              | US        |   1281448 | PA      | $1282460.12   | 0.21%             | 2030-12-20      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| Tenneco Inc                                          | Tenneco Inc 2022 Term Loan B                                                     | CUSIP: 88037HAP9<br>LEI: 549300U0EXXFAQFAD785 | Long             | LON              | CORP              | US        |   1361000 | PA      | $1329955.59   | 0.21%             | 2028-11-17      | Floating      | 9.30%                 | No            |                  2 | On Loan: No      |
| SPRINGS WINDOWS FASHIONS LLC                         | Springs Windows Fashions LLC 2024 FLFO A1 Term Loan                              | CUSIP: 78489HAG3<br>LEI: 5493000CMZKPQ7BKPB20 | Long             | LON              | CORP              | US        |    153132 | PA      | $153323.67    | 0.02%             | 2029-12-19      | Floating      | 8.66%                 | No            |                  2 | On Loan: No      |
| ASCENT RESOURCES/ARU FIN                             | Ascent Resources Utica Holdings LLC / ARU Finance Corp                           | CUSIP: 04364VAK9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     38000 | PA      | $45909.70     | 0.01%             | 2027-11-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| QXO BUILDING PRODUCTS                                | QXO Building Products Inc                                                        | CUSIP: 74825NAA5<br>LEI: 549300HDXQWWCBOYXP31 | Long             | DBT              | CORP              | US        |    270000 | PA      | $279556.97    | 0.05%             | 2032-04-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| DIRECTV FIN LLC/COINC                                | Directv Financing LLC / Directv Financing Co-Obligor Inc                         | CUSIP: 25461LAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     95000 | PA      | $94893.41     | 0.02%             | 2027-08-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| RAKUTEN GROUP INC                                    | Rakuten Group Inc                                                                | CUSIP: 75102WAK4<br>LEI: 529900IMXUCQKUL1H943 | Long             | DBT              | CORP              | JP        |    200000 | PA      | $224892.96    | 0.04%             | 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        |     71000 | PA      | $73545.78     | 0.01%             | 2055-01-15      | Fixed         | 7.60%                 | No            |                  2 | On Loan: No      |
| PREGIS TOPCO CORPORATION                             | Pregis TopCo Corporation 2025 Refinancing Term Loan                              | CUSIP: 74045BAG2<br>LEI: 549300LJXHJYHS1GM034 | Long             | LON              | CORP              | US        |   1471360 | PA      | $1480555.66   | 0.24%             | 2029-02-01      | Floating      | 8.16%                 | No            |                  2 | On Loan: No      |
| LIGHT & WONDER INTL INC                              | Light & Wonder International Inc                                                 | CUSIP: 531968AB1<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | DBT              | CORP              | US        |     77000 | PA      | $77130.90     | 0.01%             | 2033-10-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| TRANSOCEAN INC                                       | Transocean International Ltd                                                     | CUSIP: 893830BY4<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | BM        |     53000 | PA      | $52250.91     | 0.01%             | 2029-05-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| HUB INTERNATIONAL LIMITED                            | HUB International Limited 2025 Term Loan B                                       | CUSIP: 44332EAZ9<br>LEI: 549300JQT6ATTUNS5E06 | Long             | LON              | CORP              | US        |   4289100 | PA      | $4294332.96   | 0.69%             | 2030-06-20      | Floating      | 6.58%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                        | TRANSDIGM INC 2025 TERM LOAN K                                                   | CUSIP: 89364MCF9<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | LON              | CORP              | US        |     97743 | PA      | $97625.85     | 0.02%             | 2030-03-22      | Floating      | 6.25%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CORP                                     | Duke Energy Corp                                                                 | CUSIP: 26441CCG8<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |     33000 | PA      | $34857.17     | 0.01%             | 2054-09-01      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| Asurion LLC                                          | Asurion LLC 2021 Second Lien Term Loan B4                                        | CUSIP: 04649VBA7<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |    953000 | PA      | $910248.42    | 0.15%             | 2029-01-20      | Floating      | 9.53%                 | No            |                  2 | On Loan: No      |
| NATIONSTAR MTG HLD INC                               | Nationstar Mortgage Holdings Inc                                                 | CUSIP: 63861CAE9<br>LEI: 549300DQF6YN0E43PM71 | Long             | DBT              | CORP              | US        |     79000 | PA      | $79829.74     | 0.01%             | 2031-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| STATION CASINOS LLC                                  | Station Casinos LLC                                                              | CUSIP: 857691AJ8<br>LEI: 5493004E7Q60TX54WL62 | Long             | DBT              | CORP              | US        |     43000 | PA      | $44171.49     | 0.01%             | 2032-03-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. INTERNATIONAL                   | TRSWAP: IBXXLLTR INDEX                                                           | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DIR              |  | US        |  10000000 | OU      | $-679.60      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| DELEK LOG PART/FINANCE                               | Delek Logistics Partners LP / Delek Logistics Finance Corp                       | CUSIP: 24665FAE2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     92000 | PA      | $93554.44     | 0.02%             | 2033-06-30      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                        | TransDigm Inc                                                                    | CUSIP: 893647BV8<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    286000 | PA      | $294449.87    | 0.05%             | 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        |     61000 | PA      | $64521.90     | 0.01%             | 2028-06-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| TRAVELPORT                                           | TRAVELPORT                                                                       | CUSIP: 000000000<br>LEI: IO4AG7EXK7ETMHT8ZR57 | Long             | EC               | CORP              | US        |       230 | NS      | $694192.90    | 0.11%             |  |  |  | No            |                  3 | On Loan: No      |
| Mitchell International, Inc.                         | Mitchell International Inc 2024 1st Lien Term Loan                               | CUSIP: 60662WAW2<br>LEI: 5493002RDNIGEM7SSV41 | Long             | LON              | CORP              | US        |   2200099 | PA      | $2196821.04   | 0.35%             | 2031-06-17      | Floating      | 7.41%                 | No            |                  2 | On Loan: No      |
| EMPIRE COMMUNITIES CORP                              | Empire Communities Corp                                                          | CUSIP: 29163VAG8<br>LEI: 549300JM1L6KK2QFP273 | Long             | DBT              | CORP              | CA        |     13000 | PA      | $13630.76     | 0.00%             | 2029-05-01      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| CONSTELLIUM SE                                       | Constellium SE                                                                   | CUSIP: 21039CAD6<br>LEI: 724500KRJEMC79KAAU28 | Long             | DBT              | CORP              | FR        |    250000 | PA      | $255549.75    | 0.04%             | 2032-08-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| MEDLINE BORROWER LP                                  | Medline Borrower LP 2025 Term Loan B                                             | CUSIP: 58503UAH6<br>LEI: 254900QT3R363TVK6F09 | Long             | LON              | CORP              | US        |   7115214 | PA      | $7114787.36   | 1.15%             | 2028-10-23      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| BEACH ACQUISITION BIDCO LLC                          | BEACH ACQUISITION BIDCO LLC USD TERM LOAN B                                      | CUSIP: 07337FAB1<br>LEI: 254900F2FNX3GBTB6202 | Long             | LON              | CORP              | US        |    301000 | PA      | $302255.17    | 0.05%             | 2032-09-12      | Floating      | 7.31%                 | No            |                  2 | On Loan: No      |
| UBER TECHNOLOGIES INC                                | Uber Technologies Inc                                                            | CUSIP: 90353TAK6<br>LEI: 549300B2FTG34FILDR98 | Long             | DBT              | CORP              | US        |    330000 | PA      | $329063.89    | 0.05%             | 2029-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| KUEHG CORP                                           | KUEHG Corp 2025 Term Loan                                                        | CUSIP: 50118YAH2<br>LEI: 549300YNT566T1NYJX62 | Long             | LON              | CORP              | US        |    495659 | PA      | $495143.81    | 0.08%             | 2030-06-12      | Floating      | 6.75%                 | No            |                  2 | On Loan: No      |
| MINERALS TECHNOLOGIES IN                             | Minerals Technologies Inc                                                        | CUSIP: 603158AA4<br>LEI: 549300D3I1QU67GP6403 | Long             | DBT              | CORP              | US        |     55000 | PA      | $53900.30     | 0.01%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CRESCENT ENERGY FINANCE                              | Crescent Energy Finance LLC                                                      | CUSIP: 45344LAD5<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |    171000 | PA      | $169818.94    | 0.03%             | 2032-04-01      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| MAYA SAS/FRANCE                                      | Maya SAS/Paris France                                                            | CUSIP: 449691AF1<br>LEI: 9695009PXA7OI9NXN582 | Long             | DBT              | CORP              | FR        |    250000 | PA      | $268123.25    | 0.04%             | 2031-04-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Zayo Group Holdings Inc                              | Zayo Group Holdings Inc USD Term Loan                                            | CUSIP: 98919XAB7<br>LEI: 529900Z6OTS7RT0V0I47 | Long             | LON              | CORP              | US        |   3696598 | PA      | $3638856.78   | 0.59%             | 2027-03-09      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| WILLIAMS SCOTSMAN INC                                | Williams Scotsman Inc                                                            | CUSIP: 96949VAN3<br>LEI: 549300DAKDS8SCO1OT57 | Long             | DBT              | CORP              | US        |    222000 | PA      | $228496.83    | 0.04%             | 2030-04-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Zurn Holdings Inc                                    | Zurn Holdings Inc 2021 Term Loan B                                               | CUSIP: 76168JAS5<br>LEI: 549300XLZXRC2KJ6VK87 | Long             | LON              | CORP              | US        |     97822 | PA      | $98269.84     | 0.02%             | 2028-10-04      | Floating      | 6.28%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                        | Citigroup Inc                                                                    | CUSIP: 17327CAV5<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     40000 | PA      | $41080.28     | 0.01%             | 2030-02-15      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| NEW ENTERPRISE STONE & L                             | New Enterprise Stone & Lime Co Inc                                               | CUSIP: 644274AG7<br>LEI: 549300O5DQ5Y61B8VF38 | Long             | DBT              | CORP              | US        |     59000 | PA      | $59130.94     | 0.01%             | 2028-07-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| HOWDEN UK REFINANCE / US                             | Howden UK Refinance PLC / Howden UK Refinance 2 PLC / Howden US Refinance LLC    | CUSIP: 44287DAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |    245000 | PA      | $254187.01    | 0.04%             | 2032-02-15      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| Golub Capital Partners CLO, LTD                      | Golub Capital Partners CLO 74 B Ltd                                              | CUSIP: 38190BAG0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |   1500000 | PA      | $1515845.85   | 0.24%             | 2037-07-25      | Floating      | 7.52%                 | No            |                  2 | On Loan: No      |
| CONTOURGLOBAL POWER HLDG                             | ContourGlobal Power Holdings SA                                                  | CUSIP: 21220LAB9<br>LEI: 549300O5AGIFK0PQ1516 | Long             | DBT              | CORP              | LU        |    200000 | PA      | $207748.00    | 0.03%             | 2030-02-28      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| GOODYEAR TIRE & RUBBER                               | Goodyear Tire & Rubber Co/The                                                    | CUSIP: 382550BN0<br>LEI: 5493002BI0S2ZQUY3437 | Long             | DBT              | CORP              | US        |     26000 | PA      | $25107.53     | 0.00%             | 2029-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BAUSCH + LOMB CORP                                   | Bausch + Lomb Corp                                                               | CUSIP: 071705AA5<br>LEI: 549300NY6OZM39SO6475 | Long             | DBT              | CORP              | CA        |    533000 | PA      | $555485.94    | 0.09%             | 2028-10-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| FTAI AVIATION INVESTORS                              | FTAI Aviation Investors LLC                                                      | CUSIP: 34960PAF8<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |    248000 | PA      | $259422.38    | 0.04%             | 2031-05-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| GREAT CAN GAMING/RAPTOR                              | Great Canadian Gaming Corp/Raptor LLC                                            | CUSIP: 389925AA6<br>LEI: 549300FU60SSFLTE0M84 | Long             | DBT              | CORP              | XX        |     94000 | PA      | $92950.60     | 0.02%             | 2029-11-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| COREWEAVE INC                                        | CoreWeave Inc                                                                    | CUSIP: 21873SAB4<br>LEI: 984500511DP2B6186053 | Long             | DBT              | CORP              | US        |     89000 | PA      | $91918.67     | 0.01%             | 2030-06-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| CCC Intelligent Solutions Inc                        | CCC Intelligent Solutions Inc Term Loan                                          | CUSIP: 12511BAC6<br>LEI: 5493006JEEL9RIWY5T17 | Long             | LON              | CORP              | US        |   2280497 | PA      | $2276939.34   | 0.37%             | 2032-01-23      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| SWF HOLDINGS I CORP                                  | SWF Holdings I Corp                                                              | CUSIP: 78500CAA2<br>LEI: 5493000CMZKPQ7BKPB20 | Long             | DBT              | CORP              | US        |    285056 | PA      | $142528.00    | 0.02%             | 2029-10-06      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| EOC Borrower LLC                                     | EOC Borrower LLC Term Loan B                                                     | CUSIP: 26875YAB8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3112200 | PA      | $3110643.90   | 0.50%             | 2032-03-24      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                        | Carnival Corp                                                                    | CUSIP: 143658CA8<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    164000 | PA      | $166899.19    | 0.03%             | 2032-08-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| SURGERY CENTER HOLDINGS INC                          | Surgery Center Holdings Inc 2025 Term Loan B                                     | CUSIP: 86880NBD4<br>LEI: 54930054EVI5HWPPW113 | Long             | LON              | CORP              | US        |   1313844 | PA      | $1314093.21   | 0.21%             | 2030-12-19      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| Cvent, Inc.                                          | Cvent Inc 2025 Term Loan B                                                       | CUSIP: 14071CAE8<br>LEI: 254900YSP2BAI3YKIX08 | Long             | LON              | CORP              | US        |   1133981 | PA      | $1130907.57   | 0.18%             | 2030-06-17      | Floating      | 6.75%                 | No            |                  2 | On Loan: No      |
| Gainwell Acquisition Corp                            | Gainwell Acquisition Corp Term Loan B                                            | CUSIP: 59909TAC8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    817970 | PA      | $803859.62    | 0.13%             | 2027-10-01      | Floating      | 8.10%                 | No            |                  2 | On Loan: No      |
| WHATABRANDS LLC                                      | Whatabrands LLC 2024 1st Lien Term Loan B                                        | CUSIP: 96244UAJ6<br>LEI: 254900HMMX4HTWIP0085 | Long             | LON              | CORP              | US        |   1091825 | PA      | $1092381.91   | 0.18%             | 2028-08-03      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| Hertz Corporation, (The)                             | Hertz Corporation (The) 2021 Term Loan B                                         | CUSIP: 42804VBB6<br>LEI: 549300PD0C69OJ0NLB27 | Long             | LON              | CORP              | US        |   1009884 | PA      | $904815.81    | 0.15%             | 2028-06-30      | Floating      | 8.07%                 | No            |                  2 | On Loan: No      |
| DEALER TIRE FINANCIAL LLC                            | Dealer Tire Financial LLC 2024 1st Lien Term Loan B                              | CUSIP: 24228HAR9<br>LEI: 894500QBE5Z2XQWCJ779 | Long             | LON              | CORP              | US        |   1169529 | PA      | $1162710.41   | 0.19%             | 2031-07-02      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| EG GLOBAL FINANCE PLC                                | EG Global Finance PLC                                                            | CUSIP: 28228PAC5<br>LEI: 549300TL8Q5207VYET27 | Long             | DBT              | CORP              | GB        |    415000 | PA      | $455817.74    | 0.07%             | 2028-11-30      | Fixed         | 12.00%                | 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        |    451000 | PA      | $474993.20    | 0.08%             | 2028-02-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| Great Canadian Gaming Corporation                    | Great Canadian Gaming Corporation 2024 Term Loan B                               | CUSIP: 000000000<br>LEI: 549300FU60SSFLTE0M84 | Long             | LON              | CORP              | CA        |    750503 | PA      | $720955.78    | 0.12%             | 2029-11-01      | Floating      | 8.75%                 | No            |                  2 | On Loan: No      |
| Bausch & Lomb Corporation                            | Bausch & Lomb Corporation 2025 Term Loan B                                       | CUSIP: 000000000<br>LEI: 549300NY6OZM39SO6475 | Long             | LON              | CORP              | CA        |   1872183 | PA      | $1870628.85   | 0.30%             | 2031-01-15      | Floating      | 8.41%                 | No            |                  2 | On Loan: No      |
| TRANSOCEAN INC                                       | Transocean International Ltd                                                     | CUSIP: 893830BL2<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | BM        |     89000 | PA      | $88876.26     | 0.01%             | 2027-02-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| IQVIA INC                                            | IQVIA Inc                                                                        | CUSIP: 46266TAG3<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |    281000 | PA      | $288907.62    | 0.05%             | 2032-06-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| COHERENT CORP                                        | Coherent Corp                                                                    | CUSIP: 902104AC2<br>LEI: 549300O5C25A0MMHHU33 | Long             | DBT              | CORP              | US        |     45000 | PA      | $44379.18     | 0.01%             | 2029-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SPIRIT AEROSYSTEMS INC                               | Spirit AeroSystems Inc                                                           | CUSIP: 85205TAR1<br>LEI: ZD2NBKV6GCC3UMGBM518 | Long             | DBT              | CORP              | US        |    128000 | PA      | $140773.63    | 0.02%             | 2030-11-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| Kaman Corporation                                    | Kaman Corporation 2025 Term Loan B                                               | CUSIP: 48354VAM4<br>LEI: 5493003YK076OLTEQF95 | Long             | LON              | CORP              | US        |    603906 | PA      | $601587.34    | 0.10%             | 2032-02-26      | Floating      | 6.70%                 | No            |                  2 | On Loan: No      |
| PERRIGO FINANCE UNLIMITE                             | Perrigo Finance Unlimited Co                                                     | CUSIP: 71429MAD7<br>LEI: 549300E86RB6YCTMRM83 | Long             | DBT              | CORP              | IE        |    236000 | PA      | $237582.38    | 0.04%             | 2032-09-30      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| VIZIENT INC                                          | Vizient Inc 2024 Term Loan B                                                     | CUSIP: 92855LAR7<br>LEI: 5493007V6T3HZ7777P70 | Long             | LON              | CORP              | US        |    316432 | PA      | $316827.34    | 0.05%             | 2031-08-01      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| CALPINE CORP                                         | Calpine Corp                                                                     | CUSIP: 131347CM6<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |      2000 | PA      | $1991.56      | 0.00%             | 2028-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| WINDSTREAM SERVICES LLC                              | WINDSTREAM SERVICES LLC 2025 TERM LOAN B                                         | CUSIP: 000000000<br>LEI: 549300KT9GVEBYCD2N29 | Long             | LON              | CORP              | US        |   1289000 | PA      | $1276110.00   | 0.21%             | 2032-09-24      | Floating      | 8.14%                 | No            |                  3 | On Loan: No      |
| Churchill Downs Inc                                  | Churchill Downs Inc                                                              | CUSIP: 171484AE8<br>LEI: 529900FODTBQC8MIS994 | Long             | DBT              | CORP              | US        |     47000 | PA      | $46373.49     | 0.01%             | 2028-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Asurion LLC                                          | Asurion LLC 2021 2nd Lien Term Loan B3                                           | CUSIP: 04649VAZ3<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |    985384 | PA      | $958285.94    | 0.15%             | 2028-01-31      | Floating      | 9.53%                 | No            |                  2 | On Loan: No      |
| Digicel International Finance Limited                | Digicel International Finance Limited 2025 Term Loan B                           | CUSIP: 000000000<br>LEI: 5493007V023VOEW4FK27 | Long             | LON              | CORP              | BM        |    689000 | PA      | $688138.75    | 0.11%             | 2032-08-06      | Floating      | 9.49%                 | No            |                  2 | On Loan: No      |
| ARES STRATEGIC INCOME FU                             | Ares Strategic Income Fund                                                       | CUSIP: 04020EAD9<br>LEI: 549300IANZJVZPTICV54 | Long             | DBT              | CORP              | US        |     29000 | PA      | $29283.04     | 0.00%             | 2030-02-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Perrigo Investments, LLC                             | Perrigo Investments LLC 2024 Term Loan B                                         | CUSIP: 71429TAF7<br>LEI: 549300POZGC78VHAAJ73 | Long             | LON              | CORP              | US        |    896730 | PA      | $895232.47    | 0.14%             | 2029-04-20      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| American Builders & Contractors Supply Co Inc        | American Builders & Contractors Supply Co Inc 2024 Term Loan B                   | CUSIP: 02474RAJ2<br>LEI: 549300H5GQ4C1BEKG397 | Long             | LON              | CORP              | US        |   1433324 | PA      | $1435803.43   | 0.23%             | 2031-01-31      | Floating      | 5.91%                 | 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        |    528000 | PA      | $544068.31    | 0.09%             | 2032-10-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| GIP Pilot Acquisition Partners LP                    | GIP Pilot Acquisition Partners LP 2025 Term Loan B                               | CUSIP: 31773HAE2<br>LEI: 254900NQOAOPPA12X060 | Long             | LON              | CORP              | US        |    240724 | PA      | $240196.43    | 0.04%             | 2030-10-04      | Floating      | 6.29%                 | No            |                  2 | On Loan: No      |
| MILLENNIUM CORP CLAIM                                | MILLENNIUM CORP CLAIM CORPORATE TRUST CLAIMS                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1084394 | PA      | $0.11         | 0.00%             | 2049-12-31      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| OLYMPUS WTR US HLDG CORP                             | Olympus Water US Holding Corp                                                    | CUSIP: 25259KAA8<br>LEI: 549300YU2GGVCBN3MY89 | Long             | DBT              | CORP              | US        |    200000 | PA      | $209900.00    | 0.03%             | 2028-11-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INFO MGMT                              | Iron Mountain Information Management Services Inc                                | CUSIP: 46285MAA8<br>LEI: N/A                  | Long             | DBT              |  | US        |    138000 | PA      | $132968.64    | 0.02%             | 2032-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SIRVA Worldwide Inc                                  | SIRVA Worldwide Inc 2024 Term Loan                                               | CUSIP: 000000000<br>LEI: 549300NHGBSB7RBY2786 | Long             | LON              | CORP              | US        |   1059008 | PA      | $402423.07    | 0.06%             | 2029-08-20      | Floating      | 12.20%                | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                              | Frontier Communications Holdings LLC                                             | CUSIP: 35908MAD2<br>LEI: 549300ZCZ76HYCS0H445 | Long             | DBT              | CORP              | US        |    553000 | PA      | $577688.69    | 0.09%             | 2030-05-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| BROOKFIELD PPTY REIT INC                             | Brookfield Property REIT Inc / BPR Cumulus LLC / BPR Nimbus LLC / GGSI Sellco LL | CUSIP: 11284DAC9<br>LEI: N/A                  | Long             | DBT              |  | US        |     97000 | PA      | $95268.72     | 0.02%             | 2027-04-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ESAB CORP                                            | Esab Corp                                                                        | CUSIP: 29605JAA4<br>LEI: 549300ZNV0SWBXEIWT04 | Long             | DBT              | CORP              | US        |     66000 | PA      | $67802.00     | 0.01%             | 2029-04-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| ATLAS CC ACQUISITION CORP                            | Atlas CC Acquisition Corp 2025 Second Out Term Loan B                            | CUSIP: 04921TAR5<br>LEI: 6HHLXIOGCDNZ4IRAIW26 | Long             | LON              | CORP              | US        |   3017383 | PA      | $1718972.70   | 0.28%             | 2029-05-25      | Floating      | 8.83%                 | No            |                  2 | On Loan: No      |
| Polaris Newco LLC                                    | Polaris Newco LLC USD Term Loan B                                                | CUSIP: 73108RAB4<br>LEI: 254900LEPDAG7EDOA064 | Long             | LON              | CORP              | US        |   1510662 | PA      | $1454223.63   | 0.23%             | 2028-06-02      | Floating      | 8.57%                 | No            |                  2 | On Loan: No      |
| ROCKETMTGE CO-ISSUER INC                             | Rocket Mortgage LLC / Rocket Mortgage Co-Issuer Inc                              | CUSIP: 77313LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     75000 | PA      | $73464.68     | 0.01%             | 2026-10-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| OMNIA PARTNERS LLC                                   | OMNIA Partners LLC 2024 Term Loan B                                              | CUSIP: 68218HAE7<br>LEI: 254900ZD1P5CVG9GOS22 | Long             | LON              | CORP              | US        |    589050 | PA      | $588955.75    | 0.10%             | 2030-07-25      | Floating      | 6.81%                 | No            |                  2 | On Loan: No      |
| GULFPORT ENERGY OP CORP                              | Gulfport Energy Operating Corp                                                   | CUSIP: 402635AT3<br>LEI: 549300FJX18IDUFPHD40 | Long             | DBT              | CORP              | US        |     45000 | PA      | $46178.71     | 0.01%             | 2029-09-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| NAVIENT CORP                                         | Navient Corp                                                                     | CUSIP: 63938CAQ1<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |     74000 | PA      | $77867.09     | 0.01%             | 2032-06-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Minerals Technologies Inc                            | Minerals Technologies Inc 2024 Term Loan B                                       | CUSIP: 60315GAH1<br>LEI: 549300D3I1QU67GP6403 | Long             | LON              | CORP              | US        |    862482 | PA      | $862482.50    | 0.14%             | 2031-11-26      | Floating      | 6.16%                 | No            |                  3 | On Loan: No      |
| GARDA WORLD SECURITY                                 | Garda World Security Corp                                                        | CUSIP: 36485MAL3<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | DBT              | CORP              | CA        |     16000 | PA      | $15862.78     | 0.00%             | 2029-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| OLYMPUS WATER US HOLDING CORP                        | OLYMPUS WATER US HOLDING CORP 2025 USD TERM LOAN B                               | CUSIP: 68163YAK1<br>LEI: 549300YU2GGVCBN3MY89 | Long             | LON              | CORP              | US        |   1551000 | PA      | $1538266.29   | 0.25%             | 2032-07-23      | Floating      | 7.39%                 | No            |                  2 | On Loan: No      |
| DAYFORCE INC                                         | Dayforce Inc 2025 Term Loan B                                                    | CUSIP: 23958CAD9<br>LEI: 549300T64GVCHFJ8L449 | Long             | LON              | CORP              | US        |   1658075 | PA      | $1658075.47   | 0.27%             | 2031-03-01      | Floating      | 6.31%                 | No            |                  3 | On Loan: No      |
| ROCKIES EXPRESS PIPELINE                             | Rockies Express Pipeline LLC                                                     | CUSIP: 77340RAR8<br>LEI: W2ZGZGZKY5GGNY6F3V51 | Long             | DBT              | CORP              | US        |     14000 | PA      | $13886.43     | 0.00%             | 2029-07-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| TWILIO INC                                           | Twilio Inc                                                                       | CUSIP: 90138FAD4<br>LEI: 5493004W8TRGD63APX93 | Long             | DBT              | CORP              | US        |     43000 | PA      | $40431.71     | 0.01%             | 2031-03-15      | Fixed         | 3.88%                 | 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        |   1241778 | PA      | $1232638.39   | 0.20%             | 2030-04-15      | Floating      | 6.63%                 | No            |                  2 | On Loan: No      |
| CLYDESDALE ACQUISITION                               | Clydesdale Acquisition Holdings Inc                                              | CUSIP: 18972EAC9<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |    143000 | PA      | $146690.72    | 0.02%             | 2030-01-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| LAMAR MEDIA CORP                                     | Lamar Media Corp                                                                 | CUSIP: 513075BT7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     15000 | PA      | $14360.04     | 0.00%             | 2030-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DAVITA INC                                           | DaVita Inc                                                                       | CUSIP: 23918KAY4<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |     53000 | PA      | $54653.49     | 0.01%             | 2033-07-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| GRAY MEDIA INC                                       | Gray Media Inc                                                                   | CUSIP: 389375AP1<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |    167000 | PA      | $165489.10    | 0.03%             | 2033-08-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                               | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    129000 | PA      | $123784.14    | 0.02%             | 2030-03-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| AMNEAL PHARMACEUTICALS LLC                           | Amneal Pharmaceuticals LLC 2025 Term Loan B                                      | CUSIP: 03167DAR5<br>LEI: 54930037VIXE7LRZ1M66 | Long             | LON              | CORP              | US        |   2052000 | PA      | $2048573.16   | 0.33%             | 2032-08-01      | Floating      | 7.66%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                                 | OneMain Finance Corp                                                             | CUSIP: 682691AE0<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |     72000 | PA      | $76187.16     | 0.01%             | 2030-03-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| SMYRNA READY MIX CONCRET                             | Smyrna Ready Mix Concrete LLC                                                    | CUSIP: 83283WAE3<br>LEI: 549300S7RFWHQFOIOY93 | Long             | DBT              | CORP              | US        |     71000 | PA      | $74971.93     | 0.01%             | 2031-11-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| TELECOM ITALIA CAPITAL                               | Telecom Italia Capital SA                                                        | CUSIP: 87927VAV0<br>LEI: 549300777DJZOR5C4L39 | Long             | DBT              | CORP              | LU        |    110000 | PA      | $121857.14    | 0.02%             | 2038-06-04      | Fixed         | 7.72%                 | No            |                  2 | On Loan: No      |
| SENSATA TECH INC                                     | Sensata Technologies Inc                                                         | CUSIP: 81728UAA2<br>LEI: 5493002MMDDCUNV7NY90 | Long             | DBT              | CORP              | US        |    146000 | PA      | $140912.78    | 0.02%             | 2030-02-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                              | Frontier Communications Holdings LLC                                             | CUSIP: 35908MAE0<br>LEI: 549300ZCZ76HYCS0H445 | Long             | DBT              | CORP              | US        |     98000 | PA      | $103317.58    | 0.02%             | 2031-03-15      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| CROCS INC                                            | Crocs Inc                                                                        | CUSIP: 227046AA7<br>LEI: 549300B0J6YCXD63OG72 | Long             | DBT              | CORP              | US        |     57000 | PA      | $54624.81     | 0.01%             | 2029-03-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| ATI INC                                              | ATI Inc                                                                          | CUSIP: 01741RAL6<br>LEI: ZW1LRE7C3H17O2ZN9B45 | Long             | DBT              | CORP              | US        |     32000 | PA      | $31461.34     | 0.01%             | 2029-10-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| US ACUTE CARE SOLUTIONS                              | US Acute Care Solutions LLC                                                      | CUSIP: 90367UAD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    164000 | PA      | $167933.10    | 0.03%             | 2029-05-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| Waystar Technologies, Inc.                           | Waystar Technologies Inc 2025 Term Loan B                                        | CUSIP: 63939WAN3<br>LEI: 549300BIRBTAWWHCSZ09 | Long             | LON              | CORP              | US        |   1331222 | PA      | $1330663.19   | 0.21%             | 2029-10-22      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| Axalta Coating Systems U.S. Holdings, Inc.           | Axalta Coating Systems US Holdings Inc 2024 Term Loan B7                         | CUSIP: 90347BAP3<br>LEI: 549300NZ43V4QV4UGN28 | Long             | LON              | CORP              | US        |   1057869 | PA      | $1061063.72   | 0.17%             | 2029-12-20      | Floating      | 5.75%                 | No            |                  2 | On Loan: No      |
| XHR LP                                               | XHR LP                                                                           | CUSIP: 98372MAE5<br>LEI: 549300M88BPT83ZL2164 | Long             | DBT              |  | US        |     28000 | PA      | $28769.24     | 0.00%             | 2030-05-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| USA COM PART/USA COM FIN                             | USA Compression Partners LP / USA Compression Finance Corp                       | CUSIP: 91740PAG3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     96000 | PA      | $99007.10     | 0.02%             | 2029-03-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| SCIENCE APPLICATIONS INT                             | Science Applications International Corp                                          | CUSIP: 808625AB3<br>LEI: 549300LZPNZIXQGZPZ48 | Long             | DBT              | CORP              | US        |     75000 | PA      | $75023.29     | 0.01%             | 2033-11-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| MEDLINE BORROWER/MEDL CO                             | Medline Borrower LP/Medline Co-Issuer Inc                                        | CUSIP: 58506DAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    275000 | PA      | $281986.28    | 0.05%             | 2029-04-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| CITGO PETROLEUM CORP                                 | CITGO Petroleum Corp                                                             | CUSIP: 17302XAN6<br>LEI: YX52P86PXMLYDOTUQ225 | Long             | DBT              | CORP              | US        |    130000 | PA      | $135094.96    | 0.02%             | 2029-01-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| ARES STRATEGIC INCOME FU                             | Ares Strategic Income Fund                                                       | CUSIP: 04020EAK3<br>LEI: 549300IANZJVZPTICV54 | Long             | DBT              | CORP              | US        |     60000 | PA      | $60972.77     | 0.01%             | 2030-09-09      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                                | Level 3 Financing Inc                                                            | CUSIP: 527298CD3<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    134631 | PA      | $123019.08    | 0.02%             | 2030-04-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BREAD FINANCIAL HLDGS                                | Bread Financial Holdings Inc                                                     | CUSIP: 018581AQ1<br>LEI: 549300G8S4PO686J7H97 | Long             | DBT              | CORP              | US        |     11000 | PA      | $11295.23     | 0.00%             | 2035-06-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| CAESARS ENTERTAIN INC                                | Caesars Entertainment Inc                                                        | CUSIP: 12769GAB6<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |    379000 | PA      | $389842.21    | 0.06%             | 2030-02-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| CCRR Parent Inc                                      | CCRR Parent Inc Term Loan B                                                      | CUSIP: 12510MAB5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    689449 | PA      | $213729.14    | 0.03%             | 2028-03-06      | Floating      | 8.71%                 | No            |                  2 | On Loan: No      |
| Project Alpha Intermediate Holding, Inc.             | Project Alpha Intermediate Holding Inc 2024 1st Lien Term Loan B                 | CUSIP: 74339DAN8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    858012 | PA      | $859959.38    | 0.14%             | 2030-10-26      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                         | UBS Group AG                                                                     | CUSIP: 902613BS6<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    200000 | PA      | $203885.80    | 0.03%             | 2035-02-05      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Oxea Holding Drei GmbH                               | Oxea Holding Drei GmbH 2017 USD Term Loan B2                                     | CUSIP: 000000000<br>LEI: 529900MSP24R2FE9U796 | Long             | LON              | CORP              | US        |   1443776 | PA      | $1325862.87   | 0.21%             | 2031-04-08      | Floating      | 8.64%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                              | Goldman Sachs Group Inc/The                                                      | CUSIP: 38141GC28<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |     85000 | PA      | $88291.88     | 0.01%             | 2030-02-10      | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| CONSTELLIUM SE                                       | Constellium SE                                                                   | CUSIP: 21039CAB0<br>LEI: 724500KRJEMC79KAAU28 | Long             | DBT              | CORP              | FR        |    250000 | PA      | $237870.90    | 0.04%             | 2029-04-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Whitewater Matterhorn Holdings LLC                   | Whitewater Matterhorn Holdings LLC 2025 Term Loan B                              | CUSIP: 000000000<br>LEI: 2138009J7G187M6C4Q91 | Long             | LON              | CORP              | US        |    248000 | PA      | $247729.68    | 0.04%             | 2032-06-16      | Floating      | 6.25%                 | No            |                  2 | On Loan: No      |
| CA MAGNUM HOLDINGS                                   | CA Magnum Holdings                                                               | CUSIP: 12674CAA1<br>LEI: 549300ZRDHFR078MFZ78 | Long             | DBT              | CORP              | MU        |    201000 | PA      | $200020.13    | 0.03%             | 2026-10-31      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| TKO Worldwide Holdings, LLC                          | TKO Worldwide Holdings LLC 2024 Term Loan B4                                     | CUSIP: 90266UAK9<br>LEI: 549300JEOTH7UMZ3C491 | Long             | LON              | CORP              | US        |   2240144 | PA      | $2242585.76   | 0.36%             | 2031-11-21      | Floating      | 6.46%                 | No            |                  2 | On Loan: No      |
| WEX INC                                              | WEX Inc 2024 Term Loan B2                                                        | CUSIP: 96208UAW1<br>LEI: T9M5IGROL1TL1G5OV478 | Long             | LON              | CORP              | US        |    322556 | PA      | $322037.06    | 0.05%             | 2028-03-31      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| ALLIANT HOLD / CO-ISSUER                             | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                   | CUSIP: 01883LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    589000 | PA      | $590268.71    | 0.10%             | 2027-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| NAVIENT CORP                                         | Navient Corp                                                                     | CUSIP: 63938CAN8<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |     49000 | PA      | $54158.18     | 0.01%             | 2030-07-25      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC                                    | Herc Holdings Inc Term Loan B                                                    | CUSIP: 000000000<br>LEI: 549300TP80QLITMSBP82 | Long             | LON              | CORP              | US        |    277000 | PA      | $278038.75    | 0.04%             | 2032-06-02      | Floating      | 6.25%                 | No            |                  2 | On Loan: No      |
| Jeld-Wen Inc                                         | JELD-WEN Inc                                                                     | CUSIP: 475795AD2<br>LEI: 549300XWE6NM0N1HFW16 | Long             | DBT              | CORP              | US        |     54000 | PA      | $52696.28     | 0.01%             | 2027-12-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                                | Level 3 Financing Inc                                                            | CUSIP: 527298CH4<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |     17116 | PA      | $14715.65     | 0.00%             | 2031-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WYNDHAM HOTELS & RESORTS                             | Wyndham Hotels & Resorts Inc                                                     | CUSIP: 98311AAB1<br>LEI: 549300FE3MQ4RVXXC673 | Long             | DBT              | CORP              | US        |     44000 | PA      | $42952.43     | 0.01%             | 2028-08-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                   | Energy Transfer LP                                                               | CUSIP: 29273VBC3<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |     75000 | PA      | $77630.03     | 0.01%             | 2054-10-01      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| PRIME HEALTHCARE SERVICE                             | Prime Healthcare Services Inc                                                    | CUSIP: 74165HAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     28000 | PA      | $29120.00     | 0.00%             | 2029-09-01      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| NM Holdings Co LLC                                   | NM Holdings Co LLC                                                               | CUSIP: 92326YAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5125000 | PA      | $0.51         | 0.00%             | 2005-07-01      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| WYNN RESORTS FINANCE LLC                             | Wynn Resorts Finance LLC / Wynn Resorts Capital Corp                             | CUSIP: 983133AA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    190000 | PA      | $190292.98    | 0.03%             | 2029-10-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| VALARIS LTD                                          | Valaris Ltd                                                                      | CUSIP: 91889FAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    139000 | PA      | $144260.35    | 0.02%             | 2030-04-30      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| CHAMBERLAIN GROUP INC                                | CHAMBERLAIN GROUP INC 2025 TERM LOAN B                                           | CUSIP: 15963CAE6<br>LEI: 25490092IFNOZBRVE539 | Long             | LON              | CORP              | US        |   2954096 | PA      | $2955337.05   | 0.48%             | 2032-09-08      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| Celestica Inc                                        | Celestica Inc 2024 Term Loan B                                                   | CUSIP: 000000000<br>LEI: 549300J3CG5T6RZWLN53 | Long             | LON              | CORP              | CA        |    831475 | PA      | $835632.38    | 0.13%             | 2031-06-20      | Floating      | 5.92%                 | No            |                  3 | On Loan: No      |
| DIAMOND FRGN/DIAMOND FIN                             | Diamond Foreign Asset Co / Diamond Finance LLC                                   | CUSIP: 25260WAD3<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |     35000 | PA      | $37089.01     | 0.01%             | 2030-10-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Truist Insurance Holdings LLC                        | Truist Insurance Holdings LLC 2024 Term Loan B                                   | CUSIP: 89788VAG7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3700508 | PA      | $3694735.27   | 0.60%             | 2031-05-06      | Floating      | 6.75%                 | No            |                  2 | On Loan: No      |
| BLOCK INC                                            | Block Inc                                                                        | CUSIP: 852234AN3<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |     63000 | PA      | $62172.34     | 0.01%             | 2026-06-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| ALTICE FINANCING SA                                  | Altice Financing SA                                                              | CUSIP: 02154CAH6<br>LEI: 549300DIYGW8HVDF7Q17 | Long             | DBT              | CORP              | LU        |    200000 | PA      | $150500.00    | 0.02%             | 2029-08-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| VMED O2 UK FINAN                                     | Vmed O2 UK Financing I PLC                                                       | CUSIP: 92858RAA8<br>LEI: 213800MRR46ECNGZ7L69 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $185433.13    | 0.03%             | 2031-01-31      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| K HOVNANIAN ENTERPRISES                              | K Hovnanian Enterprises Inc                                                      | CUSIP: 48251UAP3<br>LEI: 549300JJCQ0KAI7CJG32 | Long             | DBT              | CORP              | US        |     93000 | PA      | $95365.29     | 0.02%             | 2031-04-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| KODIAK GAS SERVICES LLC                              | Kodiak Gas Services LLC                                                          | CUSIP: 50012LAC8<br>LEI: 549300ZQBRWEUOVOM131 | Long             | DBT              | CORP              | US        |    133000 | PA      | $138009.45    | 0.02%             | 2029-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| WRANGLER HOLDCO CORP                                 | Wrangler Holdco Corp                                                             | CUSIP: 37441QAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    152000 | PA      | $158490.25    | 0.03%             | 2032-04-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| STAR PARENT INC                                      | Star Parent Inc                                                                  | CUSIP: 855170AA4<br>LEI: 254900GRGCJYRMDRWT73 | Long             | DBT              | CORP              | US        |    181000 | PA      | $191351.93    | 0.03%             | 2030-10-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Gulfside Supply Inc                                  | Gulfside Supply Inc Term Loan B                                                  | CUSIP: 40273UAE9<br>LEI: 5493009BEGVKVXE2HW08 | Long             | LON              | CORP              | US        |    473148 | PA      | $473233.31    | 0.08%             | 2031-06-17      | Floating      | 7.00%                 | No            |                  2 | On Loan: No      |
| STAR HOLDING LLC                                     | Star Holding LLC                                                                 | CUSIP: 85513AAA6<br>LEI: 254900BDGPE9N1WAKD59 | Long             | DBT              | CORP              | US        |    127000 | PA      | $126009.96    | 0.02%             | 2031-08-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                       | NRG Energy Inc                                                                   | CUSIP: 629377DC3<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    192000 | PA      | $191804.03    | 0.03%             | 2034-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| PINNACLE BUYER LLC                                   | PINNACLE BUYER LLC DELAYED DRAW TERM LOAN                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    167889 | PA      | $168098.60    | 0.03%             | 2032-09-10      | Floating      | 6.63%                 | No            |                  2 | On Loan: No      |
| Element Materials Technology Group US Holdings Inc   | Element Materials Technology Group US Holdings Inc 2022 USD Term Loan            | CUSIP: 000000000<br>LEI: 213800EGOJGGUKUGEZ30 | Long             | LON              | CORP              | US        |    446539 | PA      | $448910.48    | 0.07%             | 2029-07-06      | Floating      | 7.68%                 | No            |                  2 | On Loan: No      |
| DRAKE SOFTWARE LLC                                   | Drake Software LLC 2024 Term Loan B                                              | CUSIP: 23344UAF7<br>LEI: 25490030X7DBAF7KCR65 | Long             | LON              | CORP              | US        |    639861 | PA      | $638792.35    | 0.10%             | 2031-06-26      | Floating      | 8.41%                 | No            |                  2 | On Loan: No      |
| WILLIAMS SCOTSMAN INC                                | Williams Scotsman Inc                                                            | CUSIP: 96949VAM5<br>LEI: 549300DAKDS8SCO1OT57 | Long             | DBT              | CORP              | US        |     71000 | PA      | $72622.71     | 0.01%             | 2029-06-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| CRESCENT ENERGY FINANCE                              | Crescent Energy Finance LLC                                                      | CUSIP: 45344LAE3<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |    147000 | PA      | $143128.68    | 0.02%             | 2033-01-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Mavis Tire Express Services Corp.                    | Mavis Tire Express Services Corp 2025 Repriced Term Loan                         | CUSIP: 57777YAG1<br>LEI: 254900NVDM4GTLBL9E56 | Long             | LON              | CORP              | US        |   2960448 | PA      | $2958730.73   | 0.48%             | 2028-05-04      | Floating      | 7.20%                 | No            |                  2 | On Loan: No      |
| DANA INC                                             | Dana Inc                                                                         | CUSIP: 235825AJ5<br>LEI: KVWHW7YLZPFJM8QYNJ51 | Long             | DBT              | CORP              | US        |     33000 | PA      | $32493.81     | 0.01%             | 2032-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| LUMEN TECHNOLOGIES INC                               | Lumen Technologies Inc                                                           | CUSIP: 550241AB9<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |     49936 | PA      | $48961.25     | 0.01%             | 2029-04-15      | Fixed         | 4.13%                 | 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        |    211000 | PA      | $224200.58    | 0.04%             | 2032-02-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                                 | OneMain Finance Corp                                                             | CUSIP: 682691AL4<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    104000 | PA      | $105319.24    | 0.02%             | 2030-05-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| CHEMOURS CO                                          | Chemours Co/The                                                                  | CUSIP: 163851AF5<br>LEI: 549300M1BOLNXL8DOV14 | Long             | DBT              | CORP              | US        |    184000 | PA      | $179468.94    | 0.03%             | 2028-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Entegris Inc                                         | Entegris Inc 2023 Term Loan B                                                    | CUSIP: 29362LAM6<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | LON              | CORP              | US        |    671749 | PA      | $675779.12    | 0.11%             | 2029-07-06      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| BRINK'S CO/THE                                       | Brink's Co/The                                                                   | CUSIP: 109696AD6<br>LEI: XFP140TFNOQMIVFTVQ13 | Long             | DBT              | CORP              | US        |    193000 | PA      | $200747.99    | 0.03%             | 2032-06-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ANGI GROUP LLC                                       | ANGI Group LLC                                                                   | CUSIP: 001846AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     80000 | PA      | $75188.00     | 0.01%             | 2028-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| BAUSCH HEALTH COS INC                                | Bausch Health Cos Inc                                                            | CUSIP: 071734AQ0<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |    386000 | PA      | $401447.40    | 0.06%             | 2028-09-30      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| MAUSER PACKAGING SOLUT                               | Mauser Packaging Solutions Holding Co                                            | CUSIP: 57763RAC1<br>LEI: 549300DNGHXL0OMHW304 | Long             | DBT              | CORP              | US        |     65000 | PA      | $65148.72     | 0.01%             | 2027-04-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| Packers Holdings LLC                                 | Packers Holdings LLC 2021 Term Loan                                              | CUSIP: 69519UAF9<br>LEI: 549300X0L6OJNRPME518 | Long             | LON              | CORP              | US        |    799244 | PA      | $249364.07    | 0.04%             | 2028-03-09      | Floating      | 7.66%                 | No            |                  2 | On Loan: No      |
| SCOTTS MIRACLE-GRO CO                                | Scotts Miracle-Gro Co/The                                                        | CUSIP: 810186AW6<br>LEI: 2TH9E0JTOUXOEGI2R879 | Long             | DBT              | CORP              | US        |     97000 | PA      | $89561.40     | 0.01%             | 2032-02-01      | Fixed         | 4.38%                 | No            |                  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        |     44000 | PA      | $44377.39     | 0.01%             | 2033-08-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| NEW GOLD INC                                         | New Gold Inc                                                                     | CUSIP: 644535AJ5<br>LEI: 5493005G0GNCHP0H6L96 | Long             | DBT              | CORP              | CA        |    164000 | PA      | $171777.37    | 0.03%             | 2032-04-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| HEARTHSIDE EQUITY                                    | HEARTHSIDE EQUITY                                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8393 | NS      | $160969.35    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| UNITED AIRLINES INC                                  | United Airlines Inc                                                              | CUSIP: 90932LAH0<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | DBT              | CORP              | US        |     39000 | PA      | $38402.86     | 0.01%             | 2029-04-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| WAND NEWCO 3 INC                                     | Wand NewCo 3 Inc 2025 Repriced Term Loan B                                       | CUSIP: 93369PAM6<br>LEI: 549300Y3VZEWMSQW8494 | Long             | LON              | CORP              | US        |   1851620 | PA      | $1844324.88   | 0.30%             | 2031-01-30      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| HOWDEN GROUP HOLDINGS LTD                            | Howden Group Holdings Ltd 2025 USD Term Loan B                                   | CUSIP: 000000000<br>LEI: 213800R6D9EVRN5D3117 | Long             | LON              | CORP              | LU        |   1682123 | PA      | $1681803.60   | 0.27%             | 2031-02-15      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| VERITIV OPERATING CO                                 | Veritiv Operating Co                                                             | CUSIP: 92339LAA0<br>LEI: 5493004G8OK5L1UTIY12 | Long             | DBT              | CORP              | US        |     41000 | PA      | $44002.35     | 0.01%             | 2030-11-30      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| GOODYEAR TIRE & RUBBER                               | Goodyear Tire & Rubber Co/The                                                    | CUSIP: 382550BK6<br>LEI: 5493002BI0S2ZQUY3437 | Long             | DBT              | CORP              | US        |     30000 | PA      | $27912.52     | 0.00%             | 2033-04-30      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                              | Goldman Sachs Group Inc/The                                                      | CUSIP: 38141GB52<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    205000 | PA      | $208057.17    | 0.03%             | 2034-11-10      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| ERO COPPER CORP                                      | ERO Copper Corp                                                                  | CUSIP: 296006AA7<br>LEI: 549300KL8A21SEIO8I47 | Long             | DBT              | CORP              | CA        |    105000 | PA      | $104385.75    | 0.02%             | 2030-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| LES SCHWAB TIRE CENTERS                              | Les Schwab Tire Centers 2025 Term Loan B                                         | CUSIP: 50220KAD6<br>LEI: 549300GJM1TKHPYFPF83 | Long             | LON              | CORP              | US        |    788497 | PA      | $786036.90    | 0.13%             | 2031-04-23      | Floating      | 6.70%                 | No            |                  2 | On Loan: No      |
| Brown Group Holding LLC                              | Brown Group Holding LLC 2022 Incremental Term Loan B2                            | CUSIP: 11565HAD8<br>LEI: 25490094PF4HHK9QS109 | Long             | LON              | CORP              | US        |   1251688 | PA      | $1253728.52   | 0.20%             | 2031-07-01      | Floating      | 7.11%                 | 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        |    513000 | PA      | $523685.79    | 0.08%             | 2032-11-22      | Floating      | 8.91%                 | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                              | Frontier Communications Holdings LLC                                             | CUSIP: 35906ABE7<br>LEI: 549300ZCZ76HYCS0H445 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11992.75     | 0.00%             | 2027-10-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CAMELOT FINANCE SA                                   | Camelot Finance SA                                                               | CUSIP: 13323AAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |     21000 | PA      | $20928.00     | 0.00%             | 2026-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| SMYRNA READY MIX CONCRET                             | Smyrna Ready Mix Concrete LLC                                                    | CUSIP: 85236FAA1<br>LEI: 549300S7RFWHQFOIOY93 | Long             | DBT              | CORP              | US        |      9000 | PA      | $9002.86      | 0.00%             | 2028-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GETTY IMAGES INC                                     | Getty Images Inc                                                                 | CUSIP: 374276AM5<br>LEI: 5493005NV20IG4VEKZ40 | Long             | DBT              | CORP              | US        |    393000 | PA      | $375287.49    | 0.06%             | 2030-02-21      | Fixed         | 11.25%                | No            |                  2 | On Loan: No      |
| XPLR INFRASTRUCTURE LP                               | XPLR Infrastructure LP                                                           | CUSIP: 65341BAD8<br>LEI: 5493008F4ZOQFNG3WN54 | Long             | DBT              | CORP              | US        |    204000 | PA      | $202470.00    | 0.03%             | 2025-11-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ARSENAL AIC PARENT LLC                               | Arsenal AIC Parent LLC                                                           | CUSIP: 04288BAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     46000 | PA      | $48704.66     | 0.01%             | 2030-10-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CAPITAL CORP II                             | Blue Owl Capital Corp II                                                         | CUSIP: 69121DAD2<br>LEI: 549300MMNWZO5XKDDX47 | Long             | DBT              | CORP              | US        |     28000 | PA      | $29006.86     | 0.00%             | 2026-11-15      | Fixed         | 8.45%                 | No            |                  2 | On Loan: No      |
| SUMMIT ACQUISITION INC                               | Summit Acquisition Inc 2025 Add-on Term Loan                                     | CUSIP: 86600DAH7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    108000 | PA      | $108315.36    | 0.02%             | 2031-10-16      | Floating      | 7.66%                 | No            |                  2 | On Loan: No      |
| SPX FLOW INC                                         | SPX Flow Inc 2025 Term Loan                                                      | CUSIP: 78470DAW8<br>LEI: 5493003YXEKRBINIEM78 | Long             | LON              | CORP              | US        |   2505863 | PA      | $2515260.41   | 0.41%             | 2029-04-05      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CAPITAL CORP                                | Blue Owl Capital Corp                                                            | CUSIP: 69121KAJ3<br>LEI: 2549000BD79OOCPF2L94 | Long             | DBT              | CORP              | US        |    135000 | PA      | $138820.70    | 0.02%             | 2030-07-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| RHP HOTEL PPTY/RHP FINAN                             | RHP Hotel Properties LP / RHP Finance Corp                                       | CUSIP: 749571AK1<br>LEI: N/A                  | Long             | DBT              |  | US        |    326000 | PA      | $335157.45    | 0.05%             | 2032-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Virgin Media Bristol LLC                             | Virgin Media Bristol LLC 2020 USD Term Loan Q                                    | CUSIP: 000000000<br>LEI: 213800IQ982XX69LE276 | Long             | LON              | CORP              | US        |   1212000 | PA      | $1210836.48   | 0.20%             | 2029-01-31      | Floating      | 7.51%                 | No            |                  2 | On Loan: No      |
| MELCO RESORTS FINANCE                                | Melco Resorts Finance Ltd                                                        | CUSIP: 58547DAD1<br>LEI: 5493000FQDBWKDBZEF60 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $195390.00    | 0.03%             | 2029-12-04      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| SOTERA HEALTH HOLDINGS LLC                           | SOTERA HEALTH HOLDINGS LLC 2025 TERM LOAN B                                      | CUSIP: 83600VAH4<br>LEI: 549300OVT7MBXFLOFU20 | Long             | LON              | CORP              | US        |   1877134 | PA      | $1877922.58   | 0.30%             | 2031-05-30      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| Associated Materials Inc                             | Associated Materials Inc 2022 Term Loan B                                        | CUSIP: 88607CAB1<br>LEI: 254900KM84WNG9539P42 | Long             | LON              | CORP              | US        |    430628 | PA      | $396987.37    | 0.06%             | 2029-03-08      | Floating      | 10.16%                | No            |                  2 | On Loan: No      |
| FIVE POINT OPERATING CO                              | Five Point Operating Co LP                                                       | CUSIP: 33834YAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     27000 | PA      | $27398.83     | 0.00%             | 2030-10-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| TMK HAWK PARENT CORP                                 | TMK Hawk Parent Corp 2024 Term Loan B                                            | CUSIP: 87258WAV7<br>LEI: 5493005BF4TIZRN1TY89 | Long             | LON              | CORP              | US        |   1929959 | PA      | $680310.61    | 0.11%             | 2029-06-30      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| Skopima Merger Sub Inc                               | Skopima Merger Sub Inc 2024 Repriced Term Loan                                   | CUSIP: 36171NAG1<br>LEI: 254900K3R60UMIODZD21 | Long             | LON              | CORP              | US        |    815352 | PA      | $688467.29    | 0.11%             | 2028-05-12      | Floating      | 7.91%                 | No            |                  2 | On Loan: No      |
| AMYNTA AGENCY BORROWER INC                           | Amynta Agency Borrower Inc 2025 Term Loan B                                      | CUSIP: 57810JAM0<br>LEI: 5493000GP6HBRVTWBO85 | Long             | LON              | CORP              | US        |   2416771 | PA      | $2406837.72   | 0.39%             | 2031-12-29      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| NEW FORTRESS ENERGY INC                              | New Fortress Energy Inc 2025 Incremental Term Loan B                             | CUSIP: 64439HAC3<br>LEI: 254900EICTYTCHA5X705 | Long             | LON              | CORP              | US        |         0 | PA      | $0.00         | 0.00%             | 2028-10-30      | Floating      | 9.57%                 | No            |                  2 | On Loan: No      |
| Herschend Entertainment Company, LLC                 | Herschend Entertainment Company LLC 2025 Term Loan B                             | CUSIP: 42778EAG6<br>LEI: 54930087KQ7RPDXK0716 | Long             | LON              | CORP              | US        |    825930 | PA      | $828168.27    | 0.13%             | 2032-05-27      | Floating      | 7.41%                 | No            |                  2 | On Loan: No      |
| EQUIPMENTSHARE.COM INC                               | EquipmentShare.com Inc                                                           | CUSIP: 29450YAC3<br>LEI: 254900PWJK48CGPKPI80 | Long             | DBT              | CORP              | US        |     76000 | PA      | $81224.39     | 0.01%             | 2033-03-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                   | Energy Transfer LP                                                               | CUSIP: 29273VAN0<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    129000 | PA      | $129481.17    | 0.02%             | 2026-11-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Calpine Corporation                                  | Calpine Corporation 2024 Term Loan B10                                           | CUSIP: 13134MBW2<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | LON              | CORP              | US        |    697370 | PA      | $696547.10    | 0.11%             | 2031-01-31      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| CNX MIDSTREAM PART LP                                | CNX Midstream Partners LP                                                        | CUSIP: 12654AAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     32000 | PA      | $30685.94     | 0.00%             | 2030-04-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Caesars Entertainment Inc                            | Caesars Entertainment Inc Term Loan B                                            | CUSIP: 12768EAG1<br>LEI: 549300FA4CTCW903Y781 | Long             | LON              | CORP              | US        |    921765 | PA      | $918640.22    | 0.15%             | 2030-02-06      | Floating      | 6.41%                 | No            |                  2 | On Loan: No      |
| NEW HOME CO INC/THE                                  | New Home Co Inc/The                                                              | CUSIP: 645370AF4<br>LEI: 549300PLCE8TB3TVRQ85 | Long             | DBT              | CORP              | US        |     56000 | PA      | $58801.90     | 0.01%             | 2029-10-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| Weber-Stephen Products LLC                           | Weber-Stephen Products LLC Term Loan B                                           | CUSIP: 94767KAN1<br>LEI: 549300XU8TJBBGLK8V26 | Long             | LON              | CORP              | US        |    813362 | PA      | $804211.29    | 0.13%             | 2027-10-30      | Floating      | 7.53%                 | No            |                  2 | On Loan: No      |
| AMERIFORGE GROUP INC COMMON STOCK                    | AMERIFORGE GROUP INC COMMON STOCK                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1664 | NS      | $0.02         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| MADISON IAQ LLC                                      | Madison IAQ LLC                                                                  | CUSIP: 55760LAB3<br>LEI: 549300IXDNBXNHUPBU73 | Long             | DBT              | CORP              | US        |   1203000 | PA      | $1188443.98   | 0.19%             | 2029-06-30      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| GENESIS ENERGY LP/FIN                                | Genesis Energy LP / Genesis Energy Finance Corp                                  | CUSIP: 37185LAR3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     43000 | PA      | $44975.81     | 0.01%             | 2033-05-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Live Nation Entertainment Inc                        | Live Nation Entertainment Inc Term Loan B4                                       | CUSIP: 53803HAM2<br>LEI: 5493007B9BM9ZXJINO78 | Long             | LON              | CORP              | US        |   1650670 | PA      | $1647054.54   | 0.27%             | 2026-10-19      | Floating      | 5.99%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                                | Venture Global Plaquemines LNG LLC                                               | CUSIP: 922966AD8<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |    292000 | PA      | $310155.68    | 0.05%             | 2036-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                         | UBS Group AG                                                                     | CUSIP: 902613BE7<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    200000 | PA      | $238173.40    | 0.04%             | 2033-11-13      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| SIRIUS XM RADIO LLC                                  | Sirius XM Radio LLC                                                              | CUSIP: 82967NBJ6<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |     53000 | PA      | $51212.54     | 0.01%             | 2028-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| OPTION CARE HEALTH INC                               | OPTION CARE HEALTH INC 2025 TERM LOAN B                                          | CUSIP: 68404YAD6<br>LEI: 549300DI3Q5ACSYJRI17 | Long             | LON              | CORP              | US        |   1532684 | PA      | $1530124.37   | 0.25%             | 2032-09-16      | Floating      | 5.89%                 | No            |                  2 | On Loan: No      |
| AMERICAN AXLE & MFG INC                              | American Axle & Manufacturing Inc                                                | CUSIP: 02406PBD1<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50389.78     | 0.01%             | 2033-10-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| ARDAGH PKG FIN/HLDGS USA                             | Ardagh Packaging Finance PLC / Ardagh Holdings USA Inc                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    100000 | PA      | $114168.33    | 0.02%             | 2026-08-15      | Fixed         | 2.13%                 | No            |                  2 | On Loan: No      |
| OPTION CARE HEALTH INC                               | Option Care Health Inc                                                           | CUSIP: 68404LAA0<br>LEI: 549300DI3Q5ACSYJRI17 | Long             | DBT              | CORP              | US        |     79000 | PA      | $76188.82     | 0.01%             | 2029-10-31      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                       | NRG Energy Inc                                                                   | CUSIP: 629377CY6<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    131000 | PA      | $131156.73    | 0.02%             | 2029-07-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Medical Solutions Holdings Inc                       | Medical Solutions Holdings Inc 2021 2nd Lien Term Loan                           | CUSIP: 58462QAM3<br>LEI: 549300JH2XHZ7TIKYR39 | Long             | LON              | CORP              | US        |    536000 | PA      | $108095.12    | 0.02%             | 2029-11-01      | Floating      | 11.41%                | No            |                  2 | On Loan: No      |
| LCPR SR SECURED FIN DAC                              | LCPR Senior Secured Financing DAC                                                | CUSIP: 50201DAA1<br>LEI: 549300LE5FM8IKMXSP90 | Long             | DBT              | CORP              | IE        |    180000 | PA      | $107777.65    | 0.02%             | 2027-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CoreLogic Inc                                        | CoreLogic Inc 2nd Lien Term Loan                                                 | CUSIP: 000000000<br>LEI: 54930086CD8K2UIL0516 | Long             | LON              | CORP              | US        |    488000 | PA      | $484188.72    | 0.08%             | 2029-06-04      | Floating      | 10.78%                | No            |                  2 | On Loan: No      |
| PENNYMAC FIN SVCS INC                                | PennyMac Financial Services Inc                                                  | CUSIP: 70932MAG2<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |     83000 | PA      | $86004.35     | 0.01%             | 2032-05-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Ring Container Technologies Group, LLC               | RING CONTAINR TECHNO GROUP LLC 2025 TERM LOAN B                                  | CUSIP: 76680YAJ1<br>LEI: 254900MFUG4RPN6Y4A98 | Long             | LON              | CORP              | US        |    520000 | PA      | $518960.00    | 0.08%             | 2032-09-15      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| ABG Intermediate Holdings 2 LLC                      | ABG Intermediate Holdings 2 LLC 2024 1st Lien Term Loan B                        | CUSIP: 00076VBL3<br>LEI: 54930020NXD0RJB64985 | Long             | LON              | CORP              | US        |   1256226 | PA      | $1252884.88   | 0.20%             | 2028-12-21      | Floating      | 6.41%                 | No            |                  2 | On Loan: No      |
| Froneri Lux Finco Sarl                               | Froneri Lux Finco Sarl 2024 USD Term Loan B4                                     | CUSIP: 000000000<br>LEI: 9845005YBZ75E5AA3B94 | Long             | LON              | CORP              | US        |   3140579 | PA      | $3115077.29   | 0.50%             | 2031-09-30      | Floating      | 6.20%                 | No            |                  2 | On Loan: No      |
| FREEDOM MORTGAGE HOLD                                | Freedom Mortgage Holdings LLC                                                    | CUSIP: 35641AAC2<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |     50000 | PA      | $52407.50     | 0.01%             | 2032-04-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS                             | Univision Communications Inc                                                     | CUSIP: 914906AY8<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |    341000 | PA      | $353351.02    | 0.06%             | 2028-08-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| GGAM FINANCE LTD                                     | GGAM Finance Ltd                                                                 | CUSIP: 36170JAA4<br>LEI: 254900X2QXEN0FVXRF65 | Long             | DBT              | CORP              | KY        |     29000 | PA      | $30695.17     | 0.00%             | 2028-06-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Constellation Renewables, LLC                        | Constellation Renewables LLC 2020 Term Loan                                      | CUSIP: 30204KAD8<br>LEI: 5493004JBPWTPTK8LB51 | Long             | LON              | CORP              | US        |    957098 | PA      | $954705.33    | 0.15%             | 2027-12-15      | Floating      | 6.45%                 | No            |                  2 | On Loan: No      |
| WAND NEWCO 3 INC                                     | Wand NewCo 3 Inc                                                                 | CUSIP: 933940AA6<br>LEI: 549300Y3VZEWMSQW8494 | Long             | DBT              | CORP              | US        |    188000 | PA      | $198080.56    | 0.03%             | 2032-01-30      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| KODIAK GAS SERVICES LLC                              | Kodiak Gas Services LLC                                                          | CUSIP: 50012LAD6<br>LEI: 549300ZQBRWEUOVOM131 | Long             | DBT              | CORP              | US        |    101000 | PA      | $102835.76    | 0.02%             | 2033-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| RESIDEO FUNDING INC                                  | Resideo Funding Inc 2025 Incremental Term Loan                                   | CUSIP: 76090LAM6<br>LEI: 5493000IFJ6XJKH66598 | Long             | LON              | CORP              | US        |   1016000 | PA      | $1015370.08   | 0.16%             | 2032-08-13      | Floating      | 6.04%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                        | TransDigm Inc                                                                    | CUSIP: 893647BZ9<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |     61000 | PA      | $62733.56     | 0.01%             | 2034-01-31      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| REWORLD HOLDING CORP                                 | Reworld Holding Corp                                                             | CUSIP: 22303XAA3<br>LEI: 40XIFLS8XDQGGHGPGC04 | Long             | DBT              | CORP              | US        |     43000 | PA      | $40440.11     | 0.01%             | 2029-12-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| QUIDELORTHO CORP                                     | QUIDELORTHO CORP TERM LOAN                                                       | CUSIP: 74840YAH7<br>LEI: 549300YU8CMO9HF53113 | Long             | LON              | CORP              | US        |    699000 | PA      | $694924.83    | 0.11%             | 2032-08-20      | Floating      | 8.00%                 | 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        |    645000 | PA      | $645941.70    | 0.10%             | 2031-04-23      | Floating      | 8.17%                 | 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        |    190000 | PA      | $189678.90    | 0.03%             | 2029-04-13      | Floating      | 7.34%                 | No            |                  2 | On Loan: No      |
| DIG INTL FIN/DIFL US LLC                             | Digicel International Finance Ltd / Difl US LLC                                  | CUSIP: 25381MAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    235000 | PA      | $241098.25    | 0.04%             | 2032-08-01      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| Element Solutions Inc                                | Element Solutions Inc 2023 Term Loan B                                           | CUSIP: 72766TAH2<br>LEI: 549300FLGN6P5CU20J91 | Long             | LON              | CORP              | US        |   1380582 | PA      | $1388064.95   | 0.22%             | 2030-12-18      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| BROOKFIELD FINANCE INC                               | Brookfield Finance Inc                                                           | CUSIP: 11271LAN2<br>LEI: 549300XH8D8K6OYWGD17 | Long             | DBT              | CORP              | CA        |    125000 | PA      | $123933.50    | 0.02%             | 2055-01-15      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| MITCHELL INTERNATIONAL INC                           | Mitchell International Inc 2024 2nd Lien Term Loan                               | CUSIP: 60662WAZ5<br>LEI: 5493002RDNIGEM7SSV41 | Long             | LON              | CORP              | US        |    474000 | PA      | $467838.00    | 0.08%             | 2032-06-17      | Floating      | 9.41%                 | No            |                  2 | On Loan: No      |
| CSC Holdings LLC                                     | CSC Holdings LLC 2019 Term Loan B5                                               | CUSIP: 64072UAK8<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | LON              | CORP              | US        |   2466334 | PA      | $2383860.09   | 0.39%             | 2027-04-15      | Floating      | 8.75%                 | No            |                  2 | On Loan: No      |
| CORELOGIC INC                                        | CoreLogic Inc                                                                    | CUSIP: 21871DAD5<br>LEI: 54930086CD8K2UIL0516 | Long             | DBT              | CORP              | US        |    345000 | PA      | $334512.76    | 0.05%             | 2028-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| WHIRLPOOL CORP                                       | Whirlpool Corp                                                                   | CUSIP: 963320BE5<br>LEI: WHENKOULSSK7WUM60H03 | Long             | DBT              | CORP              | US        |     55000 | PA      | $54886.77     | 0.01%             | 2033-06-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| JetBlue Airways Corporation                          | JetBlue Airways Corporation 2024 Term Loan B                                     | CUSIP: 000000000<br>LEI: 54930070J9H97ZO93T57 | Long             | LON              | CORP              | US        |    933861 | PA      | $894172.00    | 0.14%             | 2029-08-27      | Floating      | 8.75%                 | No            |                  2 | On Loan: No      |
| SEALED AIR CORP                                      | Sealed Air Corp                                                                  | CUSIP: 81211KAY6<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | DBT              | CORP              | US        |     19000 | PA      | $18646.43     | 0.00%             | 2027-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| AMERIGAS PART/FIN CORP                               | AmeriGas Partners LP / AmeriGas Finance Corp                                     | CUSIP: 030981AP9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     38000 | PA      | $39781.38     | 0.01%             | 2030-06-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| TransDigm Inc                                        | TransDigm Inc 2023 Term Loan J                                                   | CUSIP: 89364MCA0<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | LON              | CORP              | US        |   4102210 | PA      | $4099543.28   | 0.66%             | 2031-02-28      | Floating      | 6.50%                 | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP                                    | Clarios Global LP 2024 USD Term Loan B                                           | CUSIP: 000000000<br>LEI: 549300474L1ZLXZY2P98 | Long             | LON              | CORP              | US        |   2902948 | PA      | $2900219.60   | 0.47%             | 2030-05-06      | Floating      | 6.66%                 | 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        |    173000 | PA      | $178344.66    | 0.03%             | 2030-02-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| BELRON FINANCE 2019 LLC                              | Belron Finance 2019 LLC 2025 Repriced Term Loan B                                | CUSIP: 08078UAN3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3137427 | PA      | $3151168.60   | 0.51%             | 2031-10-16      | Floating      | 6.74%                 | No            |                  2 | On Loan: No      |
| Bryant Park Funding Ltd                              | Bryant Park Funding 2024-23 Ltd                                                  | CUSIP: 11765CAL9<br>LEI: 391200W7QGMU3U2OCV81 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1021502.90   | 0.16%             | 2037-05-15      | Floating      | 8.06%                 | No            |                  2 | On Loan: No      |
| CHOBANI HOLDCO II LLC                                | Chobani Holdco II LLC                                                            | CUSIP: 169918AA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    439307 | PA      | $465551.64    | 0.08%             | 2029-10-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| AXALTA COATING SYSTEMS D                             | Axalta Coating Systems Dutch Holding B BV                                        | CUSIP: 05455JAA5<br>LEI: 5493007DMEBZH3CQ5E51 | Long             | DBT              | CORP              | NL        |    300000 | PA      | $313865.85    | 0.05%             | 2031-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Bleriot US Bidco Inc                                 | Bleriot US Bidco Inc 2023 Term Loan B                                            | CUSIP: 09353TAJ9<br>LEI: 254900ALCQ2A2VYD5Z08 | Long             | LON              | CORP              | US        |   1211652 | PA      | $1211325.08   | 0.20%             | 2030-10-31      | Floating      | 6.50%                 | No            |                  2 | On Loan: No      |
| GENESIS ENERGY LP/FIN                                | Genesis Energy LP / Genesis Energy Finance Corp                                  | CUSIP: 37185LAL6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     29000 | PA      | $29204.28     | 0.00%             | 2028-02-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| LIFEPOINT HEALTH INC                                 | LifePoint Health Inc                                                             | CUSIP: 53219LAW9<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | DBT              | CORP              | US        |    314000 | PA      | $346077.30    | 0.06%             | 2030-10-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| ZEBRA TECHNOLOGIES CORP                              | Zebra Technologies Corp                                                          | CUSIP: 989207AD7<br>LEI: PO0I32GKZ3HZMMDPZZ08 | Long             | DBT              | CORP              | US        |     29000 | PA      | $29785.20     | 0.00%             | 2032-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| DISH DBS CORP                                        | DISH DBS Corp                                                                    | CUSIP: 25470XBE4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    219000 | PA      | $215188.15    | 0.03%             | 2026-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CLEVELAND-CLIFFS INC                                 | Cleveland-Cliffs Inc                                                             | CUSIP: 185899AQ4<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |    165000 | PA      | $168145.89    | 0.03%             | 2029-11-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| GATES GLOBAL LLC                                     | Gates Global LLC 2024 Term Loan B5                                               | CUSIP: 36740UAY8<br>LEI: 984500F43C791F4C7894 | Long             | LON              | CORP              | US        |   1755482 | PA      | $1752269.04   | 0.28%             | 2031-06-04      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| Discovery Purchaser Corporation                      | Discovery Purchaser Corporation Term Loan                                        | CUSIP: 25471NAC0<br>LEI: 2549001LSO1ZBIPA5D65 | Long             | LON              | CORP              | US        |    325246 | PA      | $323349.76    | 0.05%             | 2029-10-04      | Floating      | 8.08%                 | No            |                  2 | On Loan: No      |
| Pike Corporation                                     | Pike Corporation 2021 Incremental Term Loan B                                    | CUSIP: 72108PAR5<br>LEI: 549300P4EKEP6HK0NC58 | Long             | LON              | CORP              | US        |    921104 | PA      | $925580.96    | 0.15%             | 2028-01-21      | Floating      | 7.28%                 | No            |                  2 | On Loan: No      |
| Standard Industries Inc                              | Standard Industries Inc 2021 Term Loan B                                         | CUSIP: 85350EAB2<br>LEI: 54930064UHXCIUWVI755 | Long             | LON              | CORP              | US        |    455174 | PA      | $455651.68    | 0.07%             | 2028-09-22      | Floating      | 5.89%                 | No            |                  2 | On Loan: No      |
| STONEPEAK NILE PARENT LLC                            | STONEPEAK NILE PARENT LLC TERM LOAN                                              | CUSIP: 86184XAD6<br>LEI: 254900TJV3VAFZD0GU41 | Long             | LON              | CORP              | US        |    515000 | PA      | $514356.25    | 0.08%             | 2032-04-09      | Floating      | 6.40%                 | No            |                  2 | On Loan: No      |
| OPAL BIDCO SAS                                       | OPAL BIDCO                                                                       | CUSIP: 68348BAA1<br>LEI: 969500R96XT7XY2UJ564 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $204949.20    | 0.03%             | 2032-03-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| WATCO COS LLC/FINANCE CO                             | Watco Cos LLC / Watco Finance Corp                                               | CUSIP: 941130AD8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     26000 | PA      | $26911.82     | 0.00%             | 2032-08-01      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE FINANCIAL                             | JPMorgan Chase Financial Co LLC                                                  | CUSIP: 48133DL24<br>LEI: 549300NJFDJOFYVV6789 | Long             | DBT              | CORP              | US        |    100000 | PA      | $115800.00    | 0.02%             | 2027-06-15      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| VITAL ENERGY INC                                     | Vital Energy Inc                                                                 | CUSIP: 516806AH9<br>LEI: 549300X0PTWU2QSLSL14 | Long             | DBT              | CORP              | US        |     27000 | PA      | $26738.37     | 0.00%             | 2029-07-31      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| DANA INC                                             | Dana Inc                                                                         | CUSIP: 235825AH9<br>LEI: KVWHW7YLZPFJM8QYNJ51 | Long             | DBT              | CORP              | US        |     21000 | PA      | $20797.19     | 0.00%             | 2030-09-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| ICON Luxembourg Sarl                                 | ICON Luxembourg SARL 2024 LUX Term Loan B                                        | CUSIP: 000000000<br>LEI: 635400PUWMHSPI2DDA35 | Long             | LON              | CORP              | LU        |    488664 | PA      | $488258.09    | 0.08%             | 2028-07-03      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| QNITY ELECTRONICS INC                                | Qnity Electronics Inc                                                            | CUSIP: 74743LAB6<br>LEI: 254900RSUG4J9TFFZX53 | Long             | DBT              | CORP              | US        |     68000 | PA      | $69440.65     | 0.01%             | 2033-08-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| WMG ACQUISITION CORP                                 | WMG Acquisition Corp 2024 Term Loan J                                            | CUSIP: 92929LBA5<br>LEI: 549300NAS11NXI33CP80 | Long             | LON              | CORP              | US        |   2657044 | PA      | $2658717.94   | 0.43%             | 2031-01-24      | Floating      | 5.95%                 | No            |                  2 | On Loan: No      |
| Titan Acquisition Limited                            | Titan Acquisition Limited 2024 Term Loan B                                       | CUSIP: 000000000<br>LEI: 5493003ZDHRVP2N4C109 | Long             | LON              | CORP              | CA        |   3878299 | PA      | $3885822.49   | 0.63%             | 2029-02-15      | Floating      | 7.92%                 | No            |                  2 | On Loan: No      |
| HOWARD HUGHES CORP                                   | Howard Hughes Corp/The                                                           | CUSIP: 44267DAF4<br>LEI: 549300BVHY25JZC1KI49 | Long             | DBT              | CORP              | US        |     53000 | PA      | $49690.96     | 0.01%             | 2031-02-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Maxeon Solar Technologies Ltd                        | Maxeon Solar Technologies Ltd                                                    | CUSIP: 000000000<br>LEI: 5493007JPB074ITT6Y72 | Long             | EC               | CORP              | SG        |         2 | NS      | $6.70         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Realtruck Group Inc                                  | RealTruck Group Inc 2023 Incremental Term Loan                                   | CUSIP: 89778PAH0<br>LEI: 54930007KT5CX7XNSD31 | Long             | LON              | CORP              | US        |    414841 | PA      | $385283.86    | 0.06%             | 2028-01-31      | Floating      | 9.28%                 | No            |                  2 | On Loan: No      |
| SENSATA TECHNOLOGIES INC                             | Sensata Technologies Inc                                                         | CUSIP: 81728UAC8<br>LEI: 5493002MMDDCUNV7NY90 | Long             | DBT              | CORP              | US        |    200000 | PA      | $206955.60    | 0.03%             | 2032-07-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| USI Inc                                              | USI Inc 2024 Term Loan C                                                         | CUSIP: 90351NAQ8<br>LEI: 2549006D7UF7072T7I27 | Long             | LON              | CORP              | US        |   1761121 | PA      | $1758303.17   | 0.28%             | 2030-09-29      | Floating      | 6.25%                 | No            |                  2 | On Loan: No      |
| SOTERA HEALTH HLDGS LLC                              | Sotera Health Holdings LLC                                                       | CUSIP: 83600WAE9<br>LEI: 549300OVT7MBXFLOFU20 | Long             | DBT              | CORP              | US        |     94000 | PA      | $98701.69     | 0.02%             | 2031-06-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| HUB INTERNATIONAL LTD                                | HUB International Ltd                                                            | CUSIP: 44332PAJ0<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |   1195000 | PA      | $1244400.11   | 0.20%             | 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        |   4092542 | PA      | $4082310.29   | 0.66%             | 2029-02-15      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| GARDA WORLD SECURITY                                 | Garda World Security Corp                                                        | CUSIP: 36485MAK5<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | DBT              | CORP              | CA        |     70000 | PA      | $69468.89     | 0.01%             | 2027-02-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Planet US Buyer LLC                                  | Planet US Buyer LLC 2024 Term Loan B                                             | CUSIP: 72706RAB2<br>LEI: 254900ZE51SEX2EFFH74 | Long             | LON              | CORP              | US        |    694450 | PA      | $697547.53    | 0.11%             | 2031-02-07      | Floating      | 7.20%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                        | Citigroup Inc                                                                    | CUSIP: 17327CBC6<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     60000 | PA      | $61833.42     | 0.01%             | 2030-08-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Mcdermott International Ltd                          | Mcdermott International Ltd                                                      | CUSIP: 000000000<br>LEI: 54930004RAXI4B3L4752 | Long             | EC               | CORP              | BM        |      1131 | NS      | $22506.90     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| NOVELIS CORPORATION                                  | Novelis Corporation 2025 Term Loan B                                             | CUSIP: 67000LAB8<br>LEI: 549300ZJQN1PEAT42X90 | Long             | LON              | CORP              | US        |   2215448 | PA      | $2218704.21   | 0.36%             | 2032-03-11      | Floating      | 5.75%                 | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP INC                               | Cloud Software Group Inc                                                         | CUSIP: 18912UAA0<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |   1603000 | PA      | $1662641.86   | 0.27%             | 2029-09-30      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| PUG LLC                                              | PUG LLC 2024 Extended Term Loan B                                                | CUSIP: 74530DAH8<br>LEI: 549300NL9JUFIOARLW93 | Long             | LON              | CORP              | US        |   2221842 | PA      | $2198690.30   | 0.36%             | 2030-03-15      | Floating      | 8.91%                 | No            |                  2 | On Loan: No      |
| SANMINA CORP                                         | SANMINA CORP TERM LOAN B                                                         | CUSIP: 000000000<br>LEI: X5K24XLM8QYRXF00EB42 | Long             | LON              | CORP              | US        |   1032000 | PA      | $1029420.00   | 0.17%             | 2032-08-06      | Floating      | 6.17%                 | No            |                  3 | On Loan: No      |
| MAUSER PACKAGING SOLUT                               | Mauser Packaging Solutions Holding Co                                            | CUSIP: 57763RAD9<br>LEI: 549300DNGHXL0OMHW304 | Long             | DBT              | CORP              | US        |   1062000 | PA      | $1072410.79   | 0.17%             | 2027-04-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| SEAGATE DATA STORAGE TECHNOLOG                       | SEAGATE DATA STOR                                                                | CUSIP: 81180LAQ8<br>LEI: N/A                  | Long             | DBT              | CORP              | SG        |     76000 | PA      | $80458.01     | 0.01%             | 2031-07-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| POST HOLDINGS INC                                    | Post Holdings Inc                                                                | CUSIP: 737446AQ7<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |     36000 | PA      | $34704.45     | 0.01%             | 2030-04-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Kaseya Inc                                           | Kaseya Inc 2025 1st Lien Term Loan B                                             | CUSIP: 48578AAB4<br>LEI: 254900MISXMLRZ63NH46 | Long             | LON              | CORP              | US        |   2731761 | PA      | $2734247.17   | 0.44%             | 2032-03-20      | Floating      | 7.41%                 | No            |                  2 | On Loan: No      |
| ASHTON WOODS USA/FINANCE                             | Ashton Woods USA LLC / Ashton Woods Finance Co                                   | CUSIP: 045086AP0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     46000 | PA      | $43547.27     | 0.01%             | 2030-04-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| VISTRA CORP                                          | Vistra Corp                                                                      | CUSIP: 92840MAB8<br>LEI: 549300KP43CPCUJOOG15 | Long             | DBT              | CORP              | US        |     44000 | PA      | $45005.75     | 0.01%             | 2026-10-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Concentra Health Services Inc                        | Concentra Health Services Inc 2025 Repriced Term Loan B                          | CUSIP: 20602RAD2<br>LEI: 984500GB84105F75DE32 | Long             | LON              | CORP              | US        |    611079 | PA      | $612991.92    | 0.10%             | 2031-07-26      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| Viking Cruises Ltd                                   | Viking Cruises Ltd                                                               | CUSIP: 92676XAD9<br>LEI: 549300IJP90T4MV2GL84 | Long             | DBT              | CORP              | BM        |     58000 | PA      | $58022.27     | 0.01%             | 2027-09-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| XPLR INFRASTRUCTURE LP                               | XPLR Infrastructure LP                                                           | CUSIP: 65341BAG1<br>LEI: 5493008F4ZOQFNG3WN54 | Long             | DBT              | CORP              | US        |    179000 | PA      | $174525.00    | 0.03%             | 2026-06-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| CROSSCOUNTRY INTER                                   | CrossCountry Intermediate HoldCo LLC                                             | CUSIP: 22757VAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     78000 | PA      | $78287.02     | 0.01%             | 2030-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ANTERO MIDSTREAM PART/FI                             | Antero Midstream Partners LP / Antero Midstream Finance Corp                     | CUSIP: 03690AAH9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     66000 | PA      | $65758.09     | 0.01%             | 2029-06-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                                | Venture Global Plaquemines LNG LLC                                               | CUSIP: 922966AC0<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |    280000 | PA      | $294744.07    | 0.05%             | 2034-01-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                       | NRG Energy Inc                                                                   | CUSIP: 629377CX8<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    381000 | PA      | $390559.67    | 0.06%             | 2034-11-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| ROCKET COS INC                                       | Rocket Cos Inc                                                                   | CUSIP: 77311WAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    311000 | PA      | $320987.45    | 0.05%             | 2033-08-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| SCOTTS MIRACLE-GRO CO                                | Scotts Miracle-Gro Co/The                                                        | CUSIP: 810186AS5<br>LEI: 2TH9E0JTOUXOEGI2R879 | Long             | DBT              | CORP              | US        |      5000 | PA      | $4857.78      | 0.00%             | 2029-10-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Brown Group Holding LLC                              | Brown Group Holding LLC Term Loan B                                              | CUSIP: 11565HAB2<br>LEI: 25490094PF4HHK9QS109 | Long             | LON              | CORP              | US        |   1225000 | PA      | $1225514.50   | 0.20%             | 2031-07-01      | Floating      | 6.63%                 | No            |                  2 | On Loan: No      |
| FTAI AVIATION INVESTORS                              | FTAI Aviation Investors LLC                                                      | CUSIP: 34960PAG6<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |    528000 | PA      | $552563.62    | 0.09%             | 2032-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| QUARTZ ACQUIRECO LLC                                 | Quartz Acquireco LLC 2025 Term Loan B                                            | CUSIP: 74773KAE5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1468431 | PA      | $1461705.96   | 0.24%             | 2030-06-28      | Floating      | 6.25%                 | No            |                  2 | On Loan: No      |
| ADVANCION SCIENCES INC                               | Advancion Sciences Inc                                                           | CUSIP: 499894AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     99671 | PA      | $88208.84     | 0.01%             | 2026-11-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| DK CROWN HOLDINGS INC                                | DK Crown Holdings Inc 2025 Term Loan B                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1934779 | PA      | $1931160.71   | 0.31%             | 2032-03-04      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| LIVE NATION ENTERTAINMEN                             | Live Nation Entertainment Inc                                                    | CUSIP: 538034AX7<br>LEI: 5493007B9BM9ZXJINO78 | Long             | DBT              | CORP              | US        |     35000 | PA      | $34147.99     | 0.01%             | 2028-01-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Learfield Communications, LLC                        | Learfield Communications LLC 2024 Term Loan B                                    | CUSIP: 00165HAL7<br>LEI: 549300177GK4LMS8T214 | Long             | LON              | CORP              | US        |    541809 | PA      | $546549.71    | 0.09%             | 2028-06-30      | Floating      | 8.66%                 | No            |                  2 | On Loan: No      |
| VMED O2 UK FINAN                                     | Vmed O2 UK Financing I PLC                                                       | CUSIP: 92858RAB6<br>LEI: 213800MRR46ECNGZ7L69 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $188249.26    | 0.03%             | 2031-07-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CHG HEALTHCARE SERVICES INC                          | CHG Healthcare Services Inc 2025 Term Loan B1                                    | CUSIP: 12541HAX1<br>LEI: 54930016Y1HPAVB9PZ54 | Long             | LON              | CORP              | US        |    873890 | PA      | $873845.85    | 0.14%             | 2028-09-29      | Floating      | 7.05%                 | No            |                  2 | On Loan: No      |
| CLEAN HARBORS INC                                    | Clean Harbors Inc 2024 Term Loan B                                               | CUSIP: 18449EAH3<br>LEI: 5493000SJVZVZJKHJF48 | Long             | LON              | CORP              | US        |    904200 | PA      | $904200.01    | 0.15%             | 2028-10-09      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| ARBOR REALTY SR INC                                  | Arbor Realty SR Inc                                                              | CUSIP: 03881NAJ6<br>LEI: 549300TW7RTL2CI3CN08 | Long             | DBT              |  | US        |     46000 | PA      | $48366.21     | 0.01%             | 2030-07-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| UKG Inc                                              | UKG Inc 2024 Term Loan B                                                         | CUSIP: 89841EAB1<br>LEI: 529900FKHWSTQ1GXK240 | Long             | LON              | CORP              | US        |   3930158 | PA      | $3925088.44   | 0.63%             | 2031-02-10      | Floating      | 6.81%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                               | Venture Global LNG Inc                                                           | CUSIP: 92332YAC5<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |    540000 | PA      | $595093.50    | 0.10%             | 2029-02-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| AqGen Island Holdings Inc                            | AqGen Island Holdings Inc 2024 Term Loan B                                       | CUSIP: 03836BAH2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1896617 | PA      | $1893772.06   | 0.31%             | 2028-08-02      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| Proofpoint, Inc.                                     | Proofpoint Inc 2024 Term Loan                                                    | CUSIP: 74345HAG6<br>LEI: 529900C5FODDK0WSR085 | Long             | LON              | CORP              | US        |   3081095 | PA      | $3089137.01   | 0.50%             | 2028-08-31      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| UKG INC                                              | UKG Inc                                                                          | CUSIP: 90279XAA0<br>LEI: 529900FKHWSTQ1GXK240 | Long             | DBT              | CORP              | US        |    861000 | PA      | $888409.94    | 0.14%             | 2031-02-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| ACADIA HEALTHCARE CO INC                             | Acadia Healthcare Co Inc                                                         | CUSIP: 00404AAQ2<br>LEI: 5493005CW985Y9D0NC11 | Long             | DBT              | CORP              | US        |     32000 | PA      | $33222.05     | 0.01%             | 2033-03-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| PROOFPOINT INC                                       | PROOFPOINT INC 2025 FUNGIBLE TERM LOAN                                           | CUSIP: 74345HAJ0<br>LEI: 529900C5FODDK0WSR085 | Long             | LON              | CORP              | US        |    318000 | PA      | $318829.98    | 0.05%             | 2028-08-31      | Floating      | 7.15%                 | No            |                  2 | On Loan: No      |
| GFL ENVIRONMENTAL INC                                | GFL Environmental Inc                                                            | CUSIP: 36168QAQ7<br>LEI: 894500E7NLBY9VZRT696 | Long             | DBT              | CORP              | CA        |    108000 | PA      | $113013.43    | 0.02%             | 2031-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| JH NORTH AMERICA HOLDING                             | JH North America Holdings Inc                                                    | CUSIP: 46593WAB1<br>LEI: 254900A6FXA0D81TL967 | Long             | DBT              | CORP              | US        |     99000 | PA      | $101403.13    | 0.02%             | 2032-07-31      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| SOMNIGROUP INTL INC                                  | Somnigroup International Inc                                                     | CUSIP: 88023UAH4<br>LEI: 549300HFEKVR3US71V91 | Long             | DBT              | CORP              | US        |     89000 | PA      | $85417.53     | 0.01%             | 2029-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UTZ QUALITY FOODS LLC                                | UTZ Quality Foods LLC 2025 Term Loan B                                           | CUSIP: 91809EAG6<br>LEI: 549300K2HU2ISL0R2Q75 | Long             | LON              | CORP              | US        |   1410882 | PA      | $1410176.55   | 0.23%             | 2032-01-29      | Floating      | 6.50%                 | No            |                  2 | On Loan: No      |
| MIDAS OPCO HOLDINGS LLC                              | Stagwell Global LLC                                                              | CUSIP: 59565JAA9<br>LEI: 984500904E015Z0C1F82 | Long             | DBT              | CORP              | US        |     32000 | PA      | $31085.40     | 0.01%             | 2029-08-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| RIVERS ENTERPRISE                                    | Rivers Enterprise Lender LLC / Rivers Enterprise Lender Corp                     | CUSIP: 76884GAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     45000 | PA      | $45401.24     | 0.01%             | 2030-10-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| FOUNDATION BUILDING M                                | Foundation Building Materials Inc                                                | CUSIP: 350392AA4<br>LEI: 549300ZVE6MONHB01I28 | Long             | DBT              | CORP              | US        |      5000 | PA      | $5068.06      | 0.00%             | 2029-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| LSF12 Crown US Commercial Bidco LLC                  | LSF12 Crown US Commercial Bidco LLC 2025 Term Loan B                             | CUSIP: 50221UAD3<br>LEI: 254900FI2OCFTJ9PAJ18 | Long             | LON              | CORP              | US        |    657000 | PA      | $657413.91    | 0.11%             | 2031-12-02      | Floating      | 7.64%                 | No            |                  2 | On Loan: No      |
| SOLSTICE ADVANCED MTRIALS INC                        | SOLSTICE ADVANCED MTRIALS INC TERM LOAN B                                        | CUSIP: 000000000<br>LEI: 2138004GZ4H9TW6HK435 | Long             | LON              | CORP              | US        |    841000 | PA      | $841529.83    | 0.14%             | 2032-09-17      | Floating      | 5.88%                 | No            |                  2 | On Loan: No      |
| RR DONNELLEY & SONS CO                               | RR Donnelley & Sons Co                                                           | CUSIP: 257867BJ9<br>LEI: SU4X0P4WWRGOQDTSV032 | Long             | DBT              | CORP              | US        |    262000 | PA      | $268514.63    | 0.04%             | 2029-08-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Directv Financing LLC                                | DirecTV Financing LLC Term Loan                                                  | CUSIP: 25460HAB8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     91058 | PA      | $91070.78     | 0.01%             | 2027-08-02      | Floating      | 9.57%                 | No            |                  2 | On Loan: No      |
| VERTIV GROUP CORPORATION                             | Vertiv Group Corp                                                                | CUSIP: 92535UAB0<br>LEI: 549300ZT8RQ5VK10E643 | Long             | DBT              | CORP              | US        |    781000 | PA      | $762630.43    | 0.12%             | 2028-11-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| AMKOR TECHNOLOGY INC                                 | Amkor Technology Inc                                                             | CUSIP: 031652BL3<br>LEI: 529900VHLRTKPWZJBM84 | Long             | DBT              | CORP              | US        |     25000 | PA      | $25254.58     | 0.00%             | 2033-10-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| VORTEX OPCO LLC                                      | Vortex Opco LLC Second Out Term Loan                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | KY        |    571696 | PA      | $125773.17    | 0.02%             | 2028-12-17      | Floating      | 8.37%                 | No            |                  2 | On Loan: No      |
| SPDR Blackstone Senior Loan ETF                      | SPDR Blackstone Senior Loan ETF                                                  | CUSIP: 78467V608<br>LEI: 549300ME4SR63Y3TRD06 | Long             | EC               | RF                | US        |    175000 | NS      | $7276500.00   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                             | CHS/Community Health Systems Inc                                                 | CUSIP: 12543DBQ2<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |    292000 | PA      | $299154.00    | 0.05%             | 2034-01-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| KODIAK GAS SERVICES LLC                              | Kodiak Gas Services LLC                                                          | CUSIP: 50012LAE4<br>LEI: 549300ZQBRWEUOVOM131 | Long             | DBT              | CORP              | US        |     76000 | PA      | $78033.48     | 0.01%             | 2035-10-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| STAKEHOLDER MIDSTREAM LLC                            | STAKEHOLDER MIDSTREAM LLC TERM LOAN                                              | CUSIP: 000000000<br>LEI: 254900BG1PE2KGG26017 | Long             | LON              | CORP              | US        |    625432 | PA      | $626214.29    | 0.10%             | 2031-01-01      | Floating      | 8.04%                 | No            |                  2 | On Loan: No      |
| SILGAN HOLDINGS INC                                  | Silgan Holdings Inc                                                              | CUSIP: 000000000<br>LEI: KAF673KJXD92C8KSLU49 | Long             | DBT              | CORP              | US        |    100000 | PA      | $117878.70    | 0.02%             | 2031-02-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| APOLLO GLOBAL MANAGEMENT                             | Apollo Global Management Inc                                                     | CUSIP: 03769MAD8<br>LEI: 254900LMFT1CY9IYB476 | Long             | DBT              | CORP              | US        |     84000 | PA      | $83446.04     | 0.01%             | 2054-12-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                             | Vistra Operations Co LLC                                                         | CUSIP: 92840VAP7<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    163000 | PA      | $172485.30    | 0.03%             | 2031-10-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| QNITY ELECTRONICS INC                                | QNITY ELECTRONICS INC TERM LOAN B                                                | CUSIP: 74737SAB9<br>LEI: 254900RSUG4J9TFFZX53 | Long             | LON              | CORP              | US        |   1717000 | PA      | $1714853.75   | 0.28%             | 2032-08-12      | Floating      | 6.13%                 | No            |                  2 | On Loan: No      |
| NEOGEN FOOD SAFE CORP                                | Neogen Food Safety Corp                                                          | CUSIP: 365417AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     60000 | PA      | $62743.14     | 0.01%             | 2030-07-20      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                                 | OneMain Finance Corp                                                             | CUSIP: 682691AK6<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |     68000 | PA      | $70246.57     | 0.01%             | 2032-09-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| ARCHROCK PARTNERS LP/FIN                             | Archrock Partners LP / Archrock Partners Finance Corp                            | CUSIP: 03959KAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     77000 | PA      | $77003.54     | 0.01%             | 2027-04-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS                             | Univision Communications Inc                                                     | CUSIP: 914906AZ5<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |    202000 | PA      | $208593.68    | 0.03%             | 2031-07-31      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| NISSAN MOTOR CO                                      | Nissan Motor Co Ltd                                                              | CUSIP: 000000000<br>LEI: 353800DRBDH1LUTNAY26 | Long             | DBT              | CORP              | JP        |    100000 | PA      | $120874.76    | 0.02%             | 2033-07-17      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| BARNES GROUP INC                                     | Barnes Group Inc 2025 Term Loan B                                                | CUSIP: 38021CAC2<br>LEI: G1MSYD2DQZX30V5DMX12 | Long             | LON              | CORP              | US        |    550235 | PA      | $550532.13    | 0.09%             | 2032-01-27      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| AZORRA FINANCE                                       | Azorra Finance Ltd                                                               | CUSIP: 05480AAA3<br>LEI: 254900MC1HXDAVUUP395 | Long             | DBT              | CORP              | KY        |     40000 | PA      | $41950.00     | 0.01%             | 2030-04-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| TEVA PHARMACEUTICALS NE                              | Teva Pharmaceutical Finance Netherlands III BV                                   | CUSIP: 88167AAE1<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |    130000 | PA      | $127400.00    | 0.02%             | 2026-10-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                             | Warnermedia Holdings Inc                                                         | CUSIP: 55903VBW2<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |    566000 | PA      | $451849.12    | 0.07%             | 2042-03-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Anticimex International AB                           | Anticimex International AB 2024 Term Loan B6                                     | CUSIP: 03703HAB2<br>LEI: 54930005SBU6WYFBEB41 | Long             | LON              | CORP              | SE        |    606927 | PA      | $607837.81    | 0.10%             | 2028-11-16      | Floating      | 7.76%                 | No            |                  2 | On Loan: No      |
| NAKED JUICE LLC                                      | Naked Juice LLC 2025 FLFO Term Loan                                              | CUSIP: 62984CAK9<br>LEI: 549300Y5TU1XQ1KVLJ64 | Long             | LON              | CORP              | US        |   1509857 | PA      | $1517406.72   | 0.25%             | 2029-01-24      | Floating      | 9.50%                 | No            |                  2 | On Loan: No      |
| JH NORTH AMERICA HOLDING                             | JH North America Holdings Inc                                                    | CUSIP: 46593WAA3<br>LEI: 254900A6FXA0D81TL967 | Long             | DBT              | CORP              | US        |     75000 | PA      | $76148.60     | 0.01%             | 2031-01-31      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| AHP HEALTH PARTN                                     | AHP Health Partners Inc                                                          | CUSIP: 00150LAB7<br>LEI: 549300QMM8MQ6SM5KX05 | Long             | DBT              | CORP              | US        |    110000 | PA      | $108256.07    | 0.02%             | 2029-07-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| AIMBRIDGE                                            | AIMBRIDGE                                                                        | CUSIP: 000000000<br>LEI: 549300SPGKLVE9WYCQ20 | Long             | EC               | CORP              | US        |      8774 | NS      | $565902.36    | 0.09%             |  |  |  | No            |                  3 | On Loan: No      |
| COMSTOCK RESOURCES INC                               | Comstock Resources Inc                                                           | CUSIP: 205768AT1<br>LEI: I03QQGEA4SS774AURI46 | Long             | DBT              | CORP              | US        |      2000 | PA      | $1926.11      | 0.00%             | 2030-01-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                                 | OneMain Finance Corp                                                             | CUSIP: 682691AH3<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    113000 | PA      | $116149.42    | 0.02%             | 2029-05-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD                                  | NCL Corp Ltd                                                                     | CUSIP: 62886HBY6<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |    151000 | PA      | $150994.34    | 0.02%             | 2031-01-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| PRAIRIE ACQUIROR LP                                  | Prairie Acquiror LP                                                              | CUSIP: 73943NAA4<br>LEI: 254900Q6KU2LVSIISH22 | Long             | DBT              | CORP              | US        |     50000 | PA      | $52055.23     | 0.01%             | 2029-08-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| CLYDESDALE ACQUISITION                               | Clydesdale Acquisition Holdings Inc                                              | CUSIP: 18972EAD7<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |    411000 | PA      | $421628.46    | 0.07%             | 2032-04-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| AECOM                                                | AECOM                                                                            | CUSIP: 00766TAE0<br>LEI: 0EEB8GF0W0NPCIHZX097 | Long             | DBT              | CORP              | US        |    220000 | PA      | $224925.80    | 0.04%             | 2033-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| PERMIAN RESOURC OPTG LLC                             | Permian Resources Operating LLC                                                  | CUSIP: 71424VAA8<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |     57000 | PA      | $59116.87     | 0.01%             | 2032-01-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ARCHROCK PARTNERS LP/FIN                             | Archrock Partners LP / Archrock Partners Finance Corp                            | CUSIP: 03959KAC4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     18000 | PA      | $18024.89     | 0.00%             | 2028-04-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| MADISON IAQ LLC                                      | Madison IAQ LLC 2025 Term Loan B                                                 | CUSIP: 55759VAD0<br>LEI: 549300IXDNBXNHUPBU73 | Long             | LON              | CORP              | US        |   1451362 | PA      | $1457385.65   | 0.24%             | 2032-05-06      | Floating      | 7.45%                 | No            |                  2 | On Loan: No      |
| WILLIAMS SCOTSMAN INC                                | Williams Scotsman Inc                                                            | CUSIP: 96949VAL7<br>LEI: 549300DAKDS8SCO1OT57 | Long             | DBT              | CORP              | US        |     49000 | PA      | $51172.76     | 0.01%             | 2031-10-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| OLYMPUS WTR US HLDG CORP                             | Olympus Water US Holding Corp                                                    | CUSIP: 681639AE0<br>LEI: 549300YU2GGVCBN3MY89 | Long             | DBT              | CORP              | US        |    484000 | PA      | $484504.11    | 0.08%             | 2033-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| EyeCare Partners LLC                                 | EyeCare Partners LLC 2024 Third Out Term Loan C                                  | CUSIP: 30233PAR1<br>LEI: 254900ZAACWK09RJ8W93 | Long             | LON              | CORP              | US        |     44025 | PA      | $9465.42      | 0.00%             | 2028-11-30      | Floating      | 11.08%                | No            |                  2 | On Loan: No      |
| COMPASS GROUP DIVERSIFIE                             | Compass Group Diversified Holdings LLC                                           | CUSIP: 20451RAB8<br>LEI: 549300I6PTUQPX21TE93 | Long             | DBT              | CORP              | US        |     66137 | PA      | $61099.31     | 0.01%             | 2029-04-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Bausch & Lomb Corporation                            | Bausch & Lomb Corporation 2023 Incremental Term Loan                             | CUSIP: 000000000<br>LEI: 549300NY6OZM39SO6475 | Long             | LON              | CORP              | CA        |    834960 | PA      | $833916.30    | 0.13%             | 2028-09-29      | Floating      | 8.17%                 | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP/US FIN                             | Clarios Global LP / Clarios US Finance Co                                        | CUSIP: 18060TAD7<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    280000 | PA      | $289242.80    | 0.05%             | 2030-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| LIFEPOINT HEALTH INC                                 | LifePoint Health Inc                                                             | CUSIP: 53219LAV1<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | DBT              | CORP              | US        |     22000 | PA      | $23824.64     | 0.00%             | 2030-08-15      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| IRB Holding Corp                                     | IRB Holding Corp 2024 1st Lien Term Loan B                                       | CUSIP: 44988LAL1<br>LEI: 549300HVW4WNWYBXN830 | Long             | LON              | CORP              | US        |   1673806 | PA      | $1673889.63   | 0.27%             | 2027-12-15      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| LITHIA MOTORS INC                                    | Lithia Motors Inc                                                                | CUSIP: 536797AJ2<br>LEI: SE8N1EZEHPZQBCBVKD53 | Long             | DBT              | CORP              | US        |     55000 | PA      | $54931.25     | 0.01%             | 2030-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| OSAIC HOLDINGS INC                                   | Osaic Holdings Inc                                                               | CUSIP: 00791GAB3<br>LEI: 549300XL60BDV6UW5C86 | Long             | DBT              | CORP              | US        |     40000 | PA      | $41313.44     | 0.01%             | 2032-08-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                              | Frontier Communications Holdings LLC                                             | CUSIP: 35906ABF4<br>LEI: 549300ZCZ76HYCS0H445 | Long             | DBT              | CORP              | US        |     21000 | PA      | $20952.77     | 0.00%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chemours Company (The)                               | Chemours Company (The) 2023 USD Term Loan B                                      | CUSIP: 16384YAJ6<br>LEI: 549300M1BOLNXL8DOV14 | Long             | LON              | CORP              | US        |    608267 | PA      | $606745.93    | 0.10%             | 2028-08-18      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| CELANESE US HOLDINGS LLC                             | Celanese US Holdings LLC                                                         | CUSIP: 15089QBA1<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |     47000 | PA      | $46801.70     | 0.01%             | 2033-04-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| BRINK'S CO/THE                                       | Brink's Co/The                                                                   | CUSIP: 109696AC8<br>LEI: XFP140TFNOQMIVFTVQ13 | Long             | DBT              | CORP              | US        |     39000 | PA      | $40134.86     | 0.01%             | 2029-06-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| AMWINS GROUP INC                                     | AmWINS Group Inc 2025 Term Loan B                                                | CUSIP: 03234TBA5<br>LEI: 549300SJE7MUB8NMRG61 | Long             | LON              | CORP              | US        |   2576530 | PA      | $2574829.49   | 0.42%             | 2032-01-30      | Floating      | 6.25%                 | No            |                  2 | On Loan: No      |
| MILLROSE PROPERTIES INC                              | Millrose Properties Inc                                                          | CUSIP: 601137AA0<br>LEI: N/A                  | Long             | DBT              |  | US        |    172000 | PA      | $174922.28    | 0.03%             | 2030-08-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| RESIDEO FUNDING INC                                  | Resideo Funding Inc                                                              | CUSIP: 76119LAD3<br>LEI: 5493000IFJ6XJKH66598 | Long             | DBT              | CORP              | US        |     91000 | PA      | $93266.36     | 0.02%             | 2032-07-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| COTIVITI CORPORATION                                 | Cotiviti Corporation 2024 Term Loan                                              | CUSIP: 22164MAB3<br>LEI: 254900YAQHVRTG4IFI64 | Long             | LON              | CORP              | US        |   2000411 | PA      | $1962903.04   | 0.32%             | 2031-05-01      | Floating      | 7.03%                 | No            |                  2 | On Loan: No      |
| Wyndham Hotels & Resorts Inc                         | Wyndham Hotels & Resorts Inc 2024 Term Loan                                      | CUSIP: 98310CAF9<br>LEI: 549300FE3MQ4RVXXC673 | Long             | LON              | CORP              | US        |   1133941 | PA      | $1137183.95   | 0.18%             | 2030-05-24      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| MILLENNIUM LENDER CLAIM T                            | MILLENNIUM LENDER CLAIM T 12/49 ZCP                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1155735 | PA      | $0.12         | 0.00%             | 2049-12-31      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| ARDONAGH FINCO LTD                                   | Ardonagh Finco Ltd                                                               | CUSIP: 039853AA4<br>LEI: 254900D2T84O1K03BA28 | Long             | DBT              | CORP              | JE        |    400000 | PA      | $418555.60    | 0.07%             | 2031-02-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| GENESIS ENERGY LP/FIN                                | Genesis Energy LP / Genesis Energy Finance Corp                                  | CUSIP: 37185LAQ5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     67000 | PA      | $69877.90     | 0.01%             | 2032-05-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| PHOENIX AVIATION CAPITAL                             | Phoenix Aviation Capital Ltd                                                     | CUSIP: 71910DAA9<br>LEI: 8945008YQAKXZQ3VYJ15 | Long             | DBT              | CORP              | IE        |    137000 | PA      | $145756.22    | 0.02%             | 2030-07-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| MAGENTA SECURITY HOLDINGS LLC                        | Magenta Security Holdings LLC 2024 Second Out Term Loan                          | CUSIP: 55909UAF6<br>LEI: 254900F51KU7HIRXTS68 | Long             | LON              | CORP              | US        |    465697 | PA      | $201646.80    | 0.03%             | 2028-07-27      | Floating      | 11.57%                | No            |                  2 | On Loan: No      |
| AZORRA FINANCE                                       | Azorra Finance Ltd                                                               | CUSIP: 05480AAB1<br>LEI: 254900MC1HXDAVUUP395 | Long             | DBT              | CORP              | KY        |     36000 | PA      | $37486.48     | 0.01%             | 2031-01-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. INTERNATIONAL                   | TRSWAP: IBXXLLTR INDEX                                                           | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DIR              |  | US        |   4000000 | OU      | $94247.62     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES/AADVAN                             | American Airlines Inc/AAdvantage Loyalty IP Ltd                                  | CUSIP: 00253XAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |     11500 | PA      | $11543.99     | 0.00%             | 2029-04-20      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| SeaWorld Parks & Entertainment Inc                   | SeaWorld Parks & Entertainment Inc 2024 Term Loan B3                             | CUSIP: 78488CAL4<br>LEI: 549300UZV72O3371JJ53 | Long             | LON              | CORP              | US        |    459786 | PA      | $458636.45    | 0.07%             | 2031-12-04      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| GFL ENVIRONMENTAL INC                                | GFL Environmental Inc                                                            | CUSIP: 36168QAP9<br>LEI: 894500E7NLBY9VZRT696 | Long             | DBT              | CORP              | CA        |     65000 | PA      | $63414.61     | 0.01%             | 2029-08-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| WILSONART LLC                                        | Wilsonart LLC                                                                    | CUSIP: 97246JAA6<br>LEI: 549300SAZRUMYKDJBY14 | Long             | DBT              | CORP              | US        |    177000 | PA      | $172300.42    | 0.03%             | 2032-08-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| ALLIED UNIVERSAL HOLDCO                              | Allied Universal Holdco LLC/Allied Universal Finance Corp/Atlas Luxco 4 Sarl     | CUSIP: 049362AA4<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    200000 | PA      | $196112.62    | 0.03%             | 2028-06-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| ALBION FINANCING 1SARL /                             | Albion Financing 1 SARL / Aggreko Holdings Inc                                   | CUSIP: 01330AAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    200000 | PA      | $206860.00    | 0.03%             | 2030-05-21      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Motion Finco Sarl                                    | Motion Finco Sarl 2024 USD Term Loan B                                           | CUSIP: 000000000<br>LEI: 2549002L1LBQZKA7UN30 | Long             | LON              | CORP              | LU        |   1730918 | PA      | $1547873.78   | 0.25%             | 2029-11-12      | Floating      | 7.50%                 | No            |                  2 | On Loan: No      |
| PERFORMANCE FOOD GROUP I                             | Performance Food Group Inc                                                       | CUSIP: 71376LAE0<br>LEI: 549300OMUOGBYK0FFO76 | Long             | DBT              | CORP              | US        |     41000 | PA      | $39826.85     | 0.01%             | 2029-08-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Garrett LX I SARL                                    | Garrett LX I SARL 2025 USD Term Loan B                                           | CUSIP: 36649XAG3<br>LEI: 549300LKYJ4RR1ELO069 | Long             | LON              | CORP              | LU        |    101490 | PA      | $101236.28    | 0.02%             | 2032-01-30      | Floating      | 6.31%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                   | Energy Transfer LP                                                               | CUSIP: 29273VAM2<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |     62000 | PA      | $64064.41     | 0.01%             | 2030-05-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| LGI HOMES INC                                        | LGI Homes Inc                                                                    | CUSIP: 50187TAK2<br>LEI: 549300W02B4WNV8CV109 | Long             | DBT              | CORP              | US        |     62000 | PA      | $60538.35     | 0.01%             | 2032-11-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ICAHN ENTERPRISES/FIN                                | Icahn Enterprises LP / Icahn Enterprises Finance Corp                            | CUSIP: 451102CK1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    158000 | PA      | $158697.98    | 0.03%             | 2029-11-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| JELD-WEN INC                                         | JELD-WEN Inc                                                                     | CUSIP: 47580PAA1<br>LEI: 549300XWE6NM0N1HFW16 | Long             | DBT              | CORP              | US        |     53000 | PA      | $44757.34     | 0.01%             | 2032-09-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO                             | Clear Channel Outdoor Holdings Inc                                               | CUSIP: 18453HAF3<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |    505000 | PA      | $530263.13    | 0.09%             | 2030-04-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                             | Vistra Operations Co LLC                                                         | CUSIP: 92840VAR3<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |     82000 | PA      | $85761.90     | 0.01%             | 2032-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| SERVICE CORP INTL                                    | Service Corp International/US                                                    | CUSIP: 817565CF9<br>LEI: 549300RKVM2ME20JHZ15 | Long             | DBT              | CORP              | US        |      2000 | PA      | $1853.13      | 0.00%             | 2030-08-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| CLARIV SCI HLD CORP                                  | Clarivate Science Holdings Corp                                                  | CUSIP: 18064PAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    180000 | PA      | $170105.17    | 0.03%             | 2029-07-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| VIKING CRUISES LTD                                   | Viking Cruises Ltd                                                               | CUSIP: 92676XAH0<br>LEI: 549300IJP90T4MV2GL84 | Long             | DBT              | CORP              | BM        |    192000 | PA      | $192134.74    | 0.03%             | 2033-10-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                                    | Iron Mountain Inc                                                                | CUSIP: 000000000<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              |  | US        |    100000 | PA      | $117664.06    | 0.02%             | 2034-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| RESIDEO FUNDING INC                                  | Resideo Funding Inc                                                              | CUSIP: 76119LAB7<br>LEI: 5493000IFJ6XJKH66598 | Long             | DBT              | CORP              | US        |     18000 | PA      | $17193.78     | 0.00%             | 2029-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DOMINION ENERGY INC                                  | Dominion Energy Inc                                                              | CUSIP: 25746UDV8<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |     15000 | PA      | $15523.92     | 0.00%             | 2055-05-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| POST HOLDINGS INC                                    | Post Holdings Inc                                                                | CUSIP: 737446AX2<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |     95000 | PA      | $95790.69     | 0.02%             | 2034-10-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                               | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCT8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    627000 | PA      | $646929.20    | 0.10%             | 2031-03-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| SIRIUS XM RADIO LLC                                  | Sirius XM Radio LLC                                                              | CUSIP: 82967NBL1<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |      8000 | PA      | $7889.61      | 0.00%             | 2026-09-01      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| Emrld Borrower LP                                    | EMRLD Borrower LP Term Loan B                                                    | CUSIP: 26872NAC3<br>LEI: 5493000GJYE7GAQCUC61 | Long             | LON              | CORP              | US        |   2813547 | PA      | $2804009.06   | 0.45%             | 2030-05-31      | Floating      | 6.45%                 | No            |                  2 | On Loan: No      |
| CPI HOLDCO B LLC                                     | CPI Holdco B LLC 2024 Term Loan                                                  | CUSIP: 1261MAAB6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2492168 | PA      | $2489052.94   | 0.40%             | 2031-05-19      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| RHP HOTEL PPTY/RHP FINAN                             | RHP Hotel Properties LP / RHP Finance Corp                                       | CUSIP: 749571AG0<br>LEI: N/A                  | Long             | DBT              |  | US        |     39000 | PA      | $38248.21     | 0.01%             | 2029-02-15      | Fixed         | 4.50%                 | 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        |     24000 | PA      | $24325.42     | 0.00%             | 2032-11-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| Fleet Midco I Limited                                | Fleet Midco I Limited 2024 1st Lien Term Loan B                                  | CUSIP: 33902UAD5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    356308 | PA      | $356307.50    | 0.06%             | 2031-02-21      | Floating      | 6.54%                 | No            |                  3 | On Loan: No      |
| ELLUCIAN HOLDINGS INC                                | Ellucian Holdings Inc                                                            | CUSIP: 289178AA3<br>LEI: 549300RP8NIJ7FY7OS79 | Long             | DBT              | CORP              | US        |    302000 | PA      | $306807.24    | 0.05%             | 2029-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| RAVEN ACQUISITION HOLDINGS LLC                       | Raven Acquisition Holdings LLC Term Loan B                                       | CUSIP: 75419XAC8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    508218 | PA      | $507903.02    | 0.08%             | 2031-11-19      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| EMRLD BOR / EMRLD CO-ISS                             | EMRLD Borrower LP / Emerald Co-Issuer Inc                                        | CUSIP: 26873CAB8<br>LEI: 98450099EE3A0ZD5F786 | Long             | DBT              | CORP              | US        |    309000 | PA      | $320944.09    | 0.05%             | 2031-07-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| PLAYTIKA HOLDING CORP                                | Playtika Holding Corp                                                            | CUSIP: 72815LAA5<br>LEI: 254900E35Z4TKA4UFG64 | Long             | DBT              | CORP              | US        |     21000 | PA      | $19279.47     | 0.00%             | 2029-03-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Buckeye Partners LP                                  | Buckeye Partners LP                                                              | CUSIP: 118230AP6<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |      1000 | PA      | $909.04       | 0.00%             | 2044-10-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| CLEARWAY ENERGY OP LLC                               | Clearway Energy Operating LLC                                                    | CUSIP: 18539UAC9<br>LEI: 549300Z3NFMM54NWBB87 | Long             | DBT              | CORP              | US        |      8000 | PA      | $7903.48      | 0.00%             | 2028-03-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| PENNYMAC FIN SVCS INC                                | PennyMac Financial Services Inc                                                  | CUSIP: 70932MAH0<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |     51000 | PA      | $52024.39     | 0.01%             | 2034-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Boxer Parent Company Inc                             | Boxer Parent Company Inc 2025 USD Term Loan B                                    | CUSIP: 05988HAQ0<br>LEI: 5493006T045HLTF7YX04 | Long             | LON              | CORP              | US        |   3026632 | PA      | $3020004.17   | 0.49%             | 2031-07-30      | Floating      | 7.20%                 | No            |                  2 | On Loan: No      |
| Symphony CLO Ltd                                     | Symphony CLO 40 Ltd                                                              | CUSIP: 871989AV1<br>LEI: 25490001HYY3IX1I5Z32 | Long             | ABS-CBDO         | CORP              | BM        |   1000000 | PA      | $1010544.20   | 0.16%             | 2038-01-05      | Floating      | 6.97%                 | No            |                  2 | On Loan: No      |
| BUILDERS FIRSTSOURCE INC                             | Builders FirstSource Inc                                                         | CUSIP: 12008RAS6<br>LEI: 549300W0SKP6L3H7DP63 | Long             | DBT              | CORP              | US        |     38000 | PA      | $39144.03     | 0.01%             | 2034-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| BCPE Pequod Buyer Inc                                | BCPE Pequod Buyer Inc USD Term Loan B                                            | CUSIP: 05624AAB8<br>LEI: 254900HEEOS2IWC84V94 | Long             | LON              | CORP              | US        |   1212960 | PA      | $1214476.20   | 0.20%             | 2031-11-25      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| HUSKY INJECTION / TITAN                              | Husky Injection Molding Systems Ltd / Titan Co-Borrower LLC                      | CUSIP: 44805RAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    586000 | PA      | $612481.90    | 0.10%             | 2029-02-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| RAND PARENT LLC                                      | Rand Parent LLC                                                                  | CUSIP: 753272AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     57000 | PA      | $59226.71     | 0.01%             | 2030-02-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| ON SEMICONDUCTOR CORP                                | ON Semiconductor Corp                                                            | CUSIP: 682189AU9<br>LEI: ZV20P4CNJVT8V1ZGJ064 | Long             | DBT              | CORP              | US        |     61000 | PA      | $56282.94     | 0.01%             | 2029-03-01      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                                     | CSC Holdings LLC                                                                 | CUSIP: 126307BM8<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    400000 | PA      | $370303.16    | 0.06%             | 2028-05-15      | Fixed         | 11.25%                | No            |                  2 | On Loan: No      |
| FTAI AVIATION INVESTORS                              | FTAI Aviation Investors LLC                                                      | CUSIP: 34960PAH4<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |    107000 | PA      | $107671.10    | 0.02%             | 2033-04-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| NRG Energy Inc                                       | NRG Energy Inc 2024 Term Loan                                                    | CUSIP: 62937NBC0<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | LON              | CORP              | US        |   2812743 | PA      | $2811871.03   | 0.45%             | 2031-04-16      | Floating      | 6.06%                 | No            |                  2 | On Loan: No      |
| SAZERAC COMPANY INC                                  | Sazerac Company Inc Term Loan B                                                  | CUSIP: 80583EAN6<br>LEI: 9QU0CG1O4LSOB6IFK895 | Long             | LON              | CORP              | US        |    741000 | PA      | $745119.96    | 0.12%             | 2032-07-09      | Floating      | 6.70%                 | No            |                  2 | On Loan: No      |
| ARCOSA INC                                           | Arcosa Inc                                                                       | CUSIP: 039653AA8<br>LEI: 549300WFHLTCZV7D6V29 | Long             | DBT              | CORP              | US        |    117000 | PA      | $113769.17    | 0.02%             | 2029-04-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Air Canada                                           | Air Canada 2024 Term Loan B                                                      | CUSIP: 000000000<br>LEI: 4B4HI3CGXMBDC0G6BM51 | Long             | LON              | CORP              | CA        |   1462430 | PA      | $1460602.45   | 0.24%             | 2031-03-21      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| MAGNOLIA OIL GAS/MAG FIN                             | Magnolia Oil & Gas Operating LLC / Magnolia Oil & Gas Finance Corp               | CUSIP: 559665AB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     82000 | PA      | $84149.63     | 0.01%             | 2032-12-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| NOVELIS CORP                                         | Novelis Corp                                                                     | CUSIP: 670001AN6<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |    176000 | PA      | $177819.08    | 0.03%             | 2033-08-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Asurion LLC                                          | Asurion LLC 2023 Term Loan B11                                                   | CUSIP: 04649VBC3<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |   1347849 | PA      | $1351689.94   | 0.22%             | 2028-08-19      | Floating      | 8.51%                 | No            |                  2 | On Loan: No      |
| NOBLE FINANCE II LLC                                 | Noble Finance II LLC                                                             | CUSIP: 65505PAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     37000 | PA      | $38297.18     | 0.01%             | 2030-04-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                                         | Enbridge Inc                                                                     | CUSIP: 29250NCF0<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |     40000 | PA      | $42417.12     | 0.01%             | 2054-06-27      | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| TMK Hawk Parent Corp                                 | TMK Hawk Parent Corp 2024 PIK Term Loan                                          | CUSIP: 87258WAW5<br>LEI: 5493005BF4TIZRN1TY89 | Long             | LON              | CORP              | US        |     64256 | PA      | $0.01         | 0.00%             | 2031-12-15      | Fixed         | 11.00%                | No            |                  3 | On Loan: No      |
| STATION CASINOS LLC                                  | Station Casinos LLC                                                              | CUSIP: 857691AH2<br>LEI: 5493004E7Q60TX54WL62 | Long             | DBT              | CORP              | US        |    175000 | PA      | $165080.11    | 0.03%             | 2031-12-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| EDELMAN FINANCIAL CENTER LLC                         | Edelman Financial Center LLC 2024 Term Loan                                      | CUSIP: 27943UAM8<br>LEI: 549300Z31KZXNP05U733 | Long             | LON              | CORP              | US        |   1244450 | PA      | $1244897.85   | 0.20%             | 2028-04-07      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| SINCLAIR TELEVISION GROU                             | Sinclair Television Group Inc                                                    | CUSIP: 829259BH2<br>LEI: 549300CQGEN0CH65UD62 | Long             | DBT              | CORP              | US        |    169000 | PA      | $173439.62    | 0.03%             | 2033-02-15      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| NISSAN MOTOR CO                                      | Nissan Motor Co Ltd                                                              | CUSIP: 654922AD5<br>LEI: 353800DRBDH1LUTNAY26 | Long             | DBT              | CORP              | JP        |    200000 | PA      | $214699.00    | 0.03%             | 2035-07-17      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| GATES CORPORATION/DE                                 | Gates Corp/DE                                                                    | CUSIP: 367398AA2<br>LEI: 984500F43C791F4C7894 | Long             | DBT              | CORP              | US        |     74000 | PA      | $76786.10     | 0.01%             | 2029-07-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| H-Food Holdings LLC                                  | H-Food Holdings LLC 2025 Exit Term Loan                                          | CUSIP: 000000000<br>LEI: 549300JY2LK0EQ95YT44 | Long             | LON              | CORP              | US        |    145645 | PA      | $146980.62    | 0.02%             | 2030-03-29      | Floating      | 10.81%                | No            |                  2 | On Loan: No      |
| ARDONAGH GROUP FINANCE                               | Ardonagh Group Finance Ltd                                                       | CUSIP: 039956AA5<br>LEI: 254900SRT1BTAJ76NW62 | Long             | DBT              | CORP              | JE        |    600000 | PA      | $630776.57    | 0.10%             | 2032-02-15      | Fixed         | 8.88%                 | 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        |     22000 | PA      | $20777.12     | 0.00%             | 2030-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Garda World Security Corporation                     | Garda World Security Corporation 2025 Term Loan B                                | CUSIP: 000000000<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | LON              | CORP              | CA        |   1882129 | PA      | $1881658.77   | 0.30%             | 2029-02-01      | Floating      | 7.17%                 | No            |                  2 | On Loan: No      |
| API GROUP DE INC                                     | APi Group DE Inc                                                                 | CUSIP: 001877AA7<br>LEI: 549300XP4G7B4QYA0G83 | Long             | DBT              | CORP              | US        |     67000 | PA      | $64575.36     | 0.01%             | 2029-07-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| KEN GARFF AUTOMOTIVE LLC                             | Ken Garff Automotive LLC                                                         | CUSIP: 48850PAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     25000 | PA      | $24477.43     | 0.00%             | 2028-09-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| NORTHERN OIL & GAS INC                               | Northern Oil & Gas Inc                                                           | CUSIP: 665531AL3<br>LEI: OKFF0PIZDDMNH4UCYE51 | Long             | DBT              | CORP              | US        |    157000 | PA      | $156378.79    | 0.03%             | 2033-10-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| GARDA WORLD SECURITY                                 | Garda World Security Corp                                                        | CUSIP: 36485MAP4<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | DBT              | CORP              | CA        |    631000 | PA      | $654994.82    | 0.11%             | 2032-11-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| GTCR EVEREST BORROWER LLC                            | GTCR Everest Borrower LLC Add on Term Loan B                                     | CUSIP: 36269YAD7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    468825 | PA      | $468787.49    | 0.08%             | 2031-09-05      | Floating      | 6.75%                 | No            |                  2 | On Loan: No      |
| Altice France SA                                     | Altice France SA 2023 USD Term Loan B14                                          | CUSIP: 000000000<br>LEI: 5493001ZMCICV4N02J21 | Long             | LON              | CORP              | FR        |   2042075 | PA      | $1970602.09   | 0.32%             | 2028-08-15      | Floating      | 9.82%                 | No            |                  3 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                             | Hilcorp Energy I LP / Hilcorp Finance Co                                         | CUSIP: 431318BE3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     97000 | PA      | $93260.59     | 0.02%             | 2034-05-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| MAYA SAS/FRANCE                                      | Maya SAS/Paris France                                                            | CUSIP: 449691AC8<br>LEI: 9695009PXA7OI9NXN582 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $203206.09    | 0.03%             | 2028-10-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| WOOF HOLDINGS INC                                    | WOOF Holdings Inc 2025 First Out Exchange Term Loan                              | CUSIP: 95004UAB5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    229215 | PA      | $181462.43    | 0.03%             | 2029-12-31      | Floating      | 7.95%                 | No            |                  2 | On Loan: No      |
| APH/APH2/APH3/AQUARIAN                               | APH Somerset Investor 2 LLC / APH2 Somerset Investor 2 LLC / APH3 Somerset Inves | CUSIP: 00188QAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     63000 | PA      | $65748.06     | 0.01%             | 2029-11-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Dynasty Acquisition Co Inc                           | Dynasty Acquisition Co Inc 2024 1st Lien Term Loan B2                            | CUSIP: 26812CAP1<br>LEI: 549300L1RCRPOAUCB870 | Long             | LON              | CORP              | US        |    874666 | PA      | $874622.60    | 0.14%             | 2031-10-31      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| SPECTRIS PLC                                         | SPECTRIS PLC USD TERM LOAN                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    240000 | PA      | $240300.00    | 0.04%             | 2032-09-24      | Floating      | 6.89%                 | No            |                  3 | On Loan: No      |
| NGL ENRGY OP/FIN CORP                                | NGL Energy Operating LLC / NGL Energy Finance Corp                               | CUSIP: 62922LAC2<br>LEI: 5299005YSRP46BE8Z459 | Long             | DBT              | CORP              | US        |     79000 | PA      | $81000.12     | 0.01%             | 2029-02-15      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| AMYNTA AGENCY/WARRANTY                               | Amynta Agency Borrower Inc and Amynta Warranty Borrower Inc                      | CUSIP: 03238AAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    106000 | PA      | $108506.48    | 0.02%             | 2033-07-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| GFL ENVIRONMENTAL INC                                | GFL Environmental Inc                                                            | CUSIP: 36168QAL8<br>LEI: 894500E7NLBY9VZRT696 | Long             | DBT              | CORP              | CA        |      8000 | PA      | $7810.24      | 0.00%             | 2028-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SOMNIGROUP INTERNATIONAL INC                         | Somnigroup International Inc Term Loan B                                         | CUSIP: 88025BAP6<br>LEI: 549300HFEKVR3US71V91 | Long             | LON              | CORP              | US        |    422631 | PA      | $424743.93    | 0.07%             | 2031-10-24      | Floating      | 6.37%                 | No            |                  2 | On Loan: No      |
| CHURCHILL DOWNS INC                                  | Churchill Downs Inc                                                              | CUSIP: 171484AJ7<br>LEI: 529900FODTBQC8MIS994 | Long             | DBT              | CORP              | US        |    188000 | PA      | $192672.78    | 0.03%             | 2031-05-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE MORTGAGE TR                               | Blackstone Mortgage Trust Inc                                                    | CUSIP: 09257WAD2<br>LEI: 549300OLDJ20R2Y2UW20 | Long             | DBT              |  | US        |    124000 | PA      | $121056.35    | 0.02%             | 2027-01-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| BEAZER HOMES USA                                     | Beazer Homes USA Inc                                                             | CUSIP: 07556QBR5<br>LEI: 549300DUPYT2T0F60I45 | Long             | DBT              | CORP              | US        |     14000 | PA      | $13991.26     | 0.00%             | 2027-10-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                                     | T-Mobile USA Inc                                                                 | CUSIP: 87264ABV6<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |     67000 | PA      | $65052.29     | 0.01%             | 2029-04-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP                                            | Sunoco LP                                                                        | CUSIP: 86765KAG4<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |     40000 | PA      | $39653.67     | 0.01%             | 2034-03-15      | Fixed         | 5.88%                 | 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        |    115000 | PA      | $117964.93    | 0.02%             | 2032-09-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| ZELIS PAYMENTS BUYER INC                             | Zelis Payments Buyer Inc 5th Amendment Term Loan                                 | CUSIP: 98932TAH6<br>LEI: 549300U8NGLZN5R1Y309 | Long             | LON              | CORP              | US        |   1723340 | PA      | $1722478.33   | 0.28%             | 2031-11-26      | Floating      | 7.41%                 | No            |                  2 | On Loan: No      |
| MAGNERA CORP                                         | Magnera Corp                                                                     | CUSIP: 55939AAA5<br>LEI: 549300LDQLQBT38QDY28 | Long             | DBT              | CORP              | US        |     33000 | PA      | $31052.34     | 0.01%             | 2031-11-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| CHOBANI LLC/FINANCE CORP                             | Chobani LLC / Chobani Finance Corp Inc                                           | CUSIP: 17027NAC6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    273000 | PA      | $284669.93    | 0.05%             | 2029-07-01      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                        | TransDigm Inc 2024 Term Loan L                                                   | CUSIP: 89364MCD4<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | LON              | CORP              | US        |    834570 | PA      | $833994.16    | 0.13%             | 2032-01-19      | Floating      | 6.50%                 | No            |                  2 | On Loan: No      |
| RHP Hotel Properties LP                              | RHP Hotel Properties LP 2024 1st Lien Term Loan B                                | CUSIP: 74958NAL0<br>LEI: 549300SJMSMA2471GA96 | Long             | LON              |  | US        |    437047 | PA      | $436684.25    | 0.07%             | 2030-05-20      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| BROOKFIELD RESID PROPERT                             | Brookfield Residential Properties Inc / Brookfield Residential US LLC            | CUSIP: 11283YAD2<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |     56000 | PA      | $52519.04     | 0.01%             | 2030-02-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| ATI INC                                              | ATI Inc                                                                          | CUSIP: 01741RAH5<br>LEI: ZW1LRE7C3H17O2ZN9B45 | Long             | DBT              | CORP              | US        |     19000 | PA      | $19036.33     | 0.00%             | 2027-12-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Ensemble RCM LLC                                     | Ensemble RCM LLC 2024 Term Loan B                                                | CUSIP: 29359BAE1<br>LEI: 254900PDXJVVI20WAQ37 | Long             | LON              | CORP              | US        |   1393409 | PA      | $1396362.75   | 0.23%             | 2029-08-01      | Floating      | 7.31%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                        | TransDigm Inc                                                                    | CUSIP: 893647BW6<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    432000 | PA      | $436787.86    | 0.07%             | 2033-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| REWORLD HOLDING CORP                                 | Reworld Holding Corp Term Loan C                                                 | CUSIP: 22282GAN7<br>LEI: 40XIFLS8XDQGGHGPGC04 | Long             | LON              | CORP              | US        |     74857 | PA      | $74856.82     | 0.01%             | 2028-11-30      | Floating      | 6.39%                 | No            |                  2 | On Loan: No      |
| PENNYMAC FIN SVCS INC                                | PennyMac Financial Services Inc                                                  | CUSIP: 70932MAE7<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |    206000 | PA      | $214499.97    | 0.03%             | 2030-11-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| BALL CORP                                            | Ball Corp                                                                        | CUSIP: 000000000<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | DBT              | CORP              | US        |    100000 | PA      | $120083.92    | 0.02%             | 2032-07-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| ENPRO INC                                            | Enpro Inc                                                                        | CUSIP: 29355XAH0<br>LEI: 549300Y5CFT2LKCFDN54 | Long             | DBT              | CORP              | US        |     49000 | PA      | $50080.12     | 0.01%             | 2033-06-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| Caesars Entertainment Inc                            | Caesars Entertainment Inc 2024 Term Loan B1                                      | CUSIP: 12768EAH9<br>LEI: 549300FA4CTCW903Y781 | Long             | LON              | CORP              | US        |   2871873 | PA      | $2862309.60   | 0.46%             | 2031-02-06      | Floating      | 6.41%                 | No            |                  2 | On Loan: No      |
| CENTERPOINT ENERGY INC                               | CenterPoint Energy Inc                                                           | CUSIP: 15189TBJ5<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | DBT              | CORP              | US        |     19000 | PA      | $20153.38     | 0.00%             | 2055-02-15      | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| BEACH ACQUISITION BIDCO                              | Beach Acquisition Bidco LLC                                                      | CUSIP: 07337JAC1<br>LEI: 254900F2FNX3GBTB6202 | Long             | DBT              | CORP              | US        |    239000 | PA      | $257800.22    | 0.04%             | 2033-07-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO                             | Clear Channel Outdoor Holdings Inc                                               | CUSIP: 18453HAD8<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |     96000 | PA      | $93236.49     | 0.02%             | 2029-06-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CENTRAL GARDEN & PET CO                              | Central Garden & Pet Co                                                          | CUSIP: 153527AN6<br>LEI: 5493004DVZLD37DJ0H83 | Long             | DBT              | CORP              | US        |     26000 | PA      | $24696.27     | 0.00%             | 2030-10-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Asplundh Tree Expert LLC                             | Asplundh Tree Expert LLC 2021 Term Loan B                                        | CUSIP: 04538FAD1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1818718 | PA      | $1817790.42   | 0.29%             | 2027-09-07      | Floating      | 6.01%                 | No            |                  2 | On Loan: No      |
| SERVICE CORP INTL                                    | Service Corp International/US                                                    | CUSIP: 817565CG7<br>LEI: 549300RKVM2ME20JHZ15 | Long             | DBT              | CORP              | US        |     49000 | PA      | $46199.35     | 0.01%             | 2031-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MEDLINE BORROWER LP                                  | Medline Borrower LP                                                              | CUSIP: 62482BAB8<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |    458000 | PA      | $454039.77    | 0.07%             | 2029-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SEALED AIR CORP                                      | Sealed Air Corp                                                                  | CUSIP: 812127AC2<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | DBT              | CORP              | US        |     23000 | PA      | $23821.31     | 0.00%             | 2032-07-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FINASTRA USA INC                                     | FINASTRA USA INC 2025 1st LIEN TERM LOAN                                         | CUSIP: 31772YAD8<br>LEI: 549300ZB2RO6QC7YTK71 | Long             | LON              | CORP              | US        |   3638000 | PA      | $3621119.68   | 0.58%             | 2032-09-15      | Floating      | 8.04%                 | No            |                  2 | On Loan: No      |
| EFESTO BIDCO SPA/US LLC                              | Efesto Bidco SpA Efesto US LLC                                                   | CUSIP: 28201XAB1<br>LEI: N/A                  | Long             | DBT              | CORP              | IT        |    444000 | PA      | $451814.40    | 0.07%             | 2032-02-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| GARRETT MOTION HLD/SARL                              | Garrett Motion Holdings Inc / Garrett LX I Sarl                                  | CUSIP: 366504AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     90000 | PA      | $94410.27     | 0.02%             | 2032-05-31      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                | Wells Fargo & Co                                                                 | CUSIP: 95002YAC7<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |     44000 | PA      | $46239.16     | 0.01%             | 2029-09-15      | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| STANDARD BUILDING SOLUTI                             | Standard Building Solutions Inc                                                  | CUSIP: 853191AA2<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |    270000 | PA      | $277025.68    | 0.04%             | 2032-08-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Avantor Funding Inc                                  | Avantor Funding Inc 2024 Term Loan B6                                            | CUSIP: 05350NAP9<br>LEI: 5493003VM0XB4U8YD238 | Long             | LON              | CORP              | US        |     99661 | PA      | $100035.22    | 0.02%             | 2027-11-08      | Floating      | 6.26%                 | No            |                  2 | On Loan: No      |
| ROCKETMTGE CO-ISSUER INC                             | Rocket Mortgage LLC / Rocket Mortgage Co-Issuer Inc                              | CUSIP: 74841CAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     20000 | PA      | $18676.88     | 0.00%             | 2031-03-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| BAUSCH HEALTH COS INC                                | Bausch Health Cos Inc                                                            | CUSIP: 071734AN7<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |     17000 | PA      | $15215.00     | 0.00%             | 2028-06-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Howden Group Holdings Ltd                            | Howden Group Holdings Ltd 2024 USD Term Loan B                                   | CUSIP: 000000000<br>LEI: 875500V3HPKZIQP10J32 | Long             | LON              | CORP              | GB        |    170128 | PA      | $169967.64    | 0.03%             | 2030-04-18      | Floating      | 7.66%                 | No            |                  2 | On Loan: No      |
| KBR INC                                              | KBR Inc                                                                          | CUSIP: 48242WAC0<br>LEI: 254900OFQDXZRKRCV808 | Long             | DBT              | CORP              | US        |     75000 | PA      | $74172.75     | 0.01%             | 2028-09-30      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| HOWARD MIDSTREAM ENERGY                              | Howard Midstream Energy Partners LLC                                             | CUSIP: 442722AD6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     97000 | PA      | $98898.81     | 0.02%             | 2034-01-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| TGNR INTERMEDIATE HOLDIN                             | TGNR Intermediate Holdings LLC                                                   | CUSIP: 77289KAA3<br>LEI: 5493007AZNVKZ5HEMT23 | Long             | DBT              | CORP              | US        |    135000 | PA      | $132103.51    | 0.02%             | 2029-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GRAY MEDIA INC                                       | Gray Media Inc                                                                   | CUSIP: 389375AN6<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |    133000 | PA      | $135877.85    | 0.02%             | 2032-07-15      | Fixed         | 9.63%                 | No            |                  2 | On Loan: No      |
| JETBLUE AIRWAYS/LOYALTY                              | JetBlue Airways Corp / JetBlue Loyalty LP                                        | CUSIP: 476920AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |     75000 | PA      | $76070.40     | 0.01%             | 2031-09-20      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| HERTZ CORP/THE                                       | Hertz Corp/The                                                                   | CUSIP: 428040DC0<br>LEI: 549300PD0C69OJ0NLB27 | Long             | DBT              | CORP              | US        |     36000 | PA      | $38165.29     | 0.01%             | 2029-07-15      | Fixed         | 12.63%                | No            |                  2 | On Loan: No      |
| WEC US Holdings Ltd                                  | WEC US Holdings Ltd 2024 Term Loan                                               | CUSIP: 92943LAC4<br>LEI: 5493002M6GRSU1IWMG57 | Long             | LON              | CORP              | US        |   1836580 | PA      | $1837075.79   | 0.30%             | 2031-01-27      | Floating      | 6.53%                 | No            |                  2 | On Loan: No      |
| CSC Holdings LLC                                     | CSC Holdings LLC                                                                 | CUSIP: 126307AS6<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    200000 | PA      | $175336.92    | 0.03%             | 2028-02-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| SBA COMMUNICATIONS CORP                              | SBA Communications Corp                                                          | CUSIP: 78410GAG9<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | DBT              |  | US        |    170000 | PA      | $159002.99    | 0.03%             | 2029-02-01      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| Sabre GLBL Inc                                       | Sabre GLBL Inc 2021 Term Loan B2                                                 | CUSIP: 78571YBF6<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | LON              | CORP              | US        |     54736 | PA      | $51725.48     | 0.01%             | 2027-12-17      | Floating      | 7.78%                 | No            |                  2 | On Loan: No      |
| B&G FOODS INC                                        | B&G Foods Inc                                                                    | CUSIP: 05508WAC9<br>LEI: 549300TRW1LZMDJZAQ78 | Long             | DBT              | CORP              | US        |     22000 | PA      | $21316.06     | 0.00%             | 2028-09-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| STANDARD INDUSTRI INC/NY                             | Standard Industries Inc/NY                                                       | CUSIP: 853496AH0<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |     34000 | PA      | $30789.31     | 0.00%             | 2031-01-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| TRANSOCEAN TITAN FIN LTD                             | Transocean Titan Financing Ltd                                                   | CUSIP: 89386MAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |     10524 | PA      | $10782.72     | 0.00%             | 2028-02-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| EyeCare Partners LLC                                 | EyeCare Partners LLC 2024 Superpriority New Money 1st Out Term Loan A            | CUSIP: 30233PAQ3<br>LEI: 254900ZAACWK09RJ8W93 | Long             | LON              | CORP              | US        |    684140 | PA      | $687902.51    | 0.11%             | 2028-08-31      | Floating      | 9.88%                 | No            |                  2 | On Loan: No      |
| BEACH ACQUISITION BIDCO                              | Beach Acquisition Bidco LLC                                                      | CUSIP: 000000000<br>LEI: 254900F2FNX3GBTB6202 | Long             | DBT              | CORP              | US        |    200000 | PA      | $240699.93    | 0.04%             | 2032-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                                | Level 3 Financing Inc                                                            | CUSIP: 527298CB7<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    250000 | PA      | $235025.00    | 0.04%             | 2029-06-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| BLOCK INC                                            | Block Inc                                                                        | CUSIP: 852234AU7<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |    166000 | PA      | $169990.64    | 0.03%             | 2033-08-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CACI INTERNATIONAL INC                               | CACI International Inc                                                           | CUSIP: 127190AE6<br>LEI: SYRPI2D1O9WRTS2WX210 | Long             | DBT              | CORP              | US        |    105000 | PA      | $108312.82    | 0.02%             | 2033-06-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| TruGreen Limited Partnership                         | TruGreen Limited Partnership 2020 Term Loan                                      | CUSIP: 89787RAH5<br>LEI: 549300QNRP2MNHR3QM19 | Long             | LON              | CORP              | US        |    249595 | PA      | $244707.98    | 0.04%             | 2027-11-02      | Floating      | 8.26%                 | No            |                  2 | On Loan: No      |
| Propulsion (BC) Finco S.a.r.l.                       | Propulsion (BC) Finco Sarl 2025 Term Loan B                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    193061 | PA      | $193630.71    | 0.03%             | 2029-09-14      | Floating      | 7.04%                 | No            |                  2 | On Loan: No      |
| SPRINGS WINDOWS FASHIONS LLC                         | Springs Windows Fashions LLC 2024 First Lien Second Out TL A2                    | CUSIP: 78489HAE8<br>LEI: 5493000CMZKPQ7BKPB20 | Long             | LON              | CORP              | US        |    657849 | PA      | $535159.85    | 0.09%             | 2028-10-06      | Floating      | 8.28%                 | No            |                  2 | On Loan: No      |
| MILLROSE PROPERTIES INC                              | Millrose Properties Inc                                                          | CUSIP: 601137AB8<br>LEI: N/A                  | Long             | DBT              |  | US        |     88000 | PA      | $88230.00     | 0.01%             | 2032-09-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BRAND INDUSTRIAL SERVICE                             | Brand Industrial Services Inc                                                    | CUSIP: 104931AA8<br>LEI: 549300B658W2BPDQMW42 | Long             | DBT              | CORP              | US        |    586000 | PA      | $584132.36    | 0.09%             | 2030-08-01      | Fixed         | 10.38%                | No            |                  2 | On Loan: No      |
| ODEON FINCO PLC                                      | Odeon Finco PLC                                                                  | CUSIP: 67585LAA3<br>LEI: 9845003ECF9901CC5382 | Long             | DBT              | CORP              | GB        |    519000 | PA      | $537554.77    | 0.09%             | 2027-11-01      | Fixed         | 12.75%                | No            |                  2 | On Loan: No      |
| CIENA CORPORATION                                    | Ciena Corporation 2025 Repriced Term Loan B                                      | CUSIP: 17178HAR3<br>LEI: W0CZ7N0GH8UIGXDM1H41 | Long             | LON              | CORP              | US        |   1233176 | PA      | $1233953.16   | 0.20%             | 2030-10-24      | Floating      | 5.89%                 | No            |                  2 | On Loan: No      |
| Core & Main LP                                       | Core & Main LP 2024 Term Loan E                                                  | CUSIP: 40416VAH8<br>LEI: 549300ZSLF8Q660SCD17 | Long             | LON              | CORP              | US        |    695450 | PA      | $693279.92    | 0.11%             | 2031-02-09      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| FORTREA HOLDINGS INC                                 | Fortrea Holdings Inc                                                             | CUSIP: 34965KAA5<br>LEI: 5493000FIVFABOVCDU97 | Long             | DBT              | CORP              | US        |     23000 | PA      | $21779.63     | 0.00%             | 2030-07-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                        | Carnival Corp                                                                    | CUSIP: 143658BX9<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    173000 | PA      | $177331.23    | 0.03%             | 2033-02-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| Charter NEX US, Inc.                                 | Charter NEX US Inc 2024 Term Loan B1                                             | CUSIP: 16125TAM4<br>LEI: 549300KRNU8RNVGYXG75 | Long             | LON              | CORP              | US        |   3417884 | PA      | $3427214.78   | 0.55%             | 2030-11-29      | Floating      | 6.93%                 | No            |                  2 | On Loan: No      |
| STANDARD BUILDING SOLUTI                             | Standard Building Solutions Inc                                                  | CUSIP: 853191AC8<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |    198000 | PA      | $200650.26    | 0.03%             | 2033-08-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Organon & Co                                         | Organon & Co 2024 USD Term Loan                                                  | CUSIP: 68621XAG8<br>LEI: 549300AMCKY57OK2CO56 | Long             | LON              | CORP              | US        |    466810 | PA      | $454555.93    | 0.07%             | 2031-05-19      | Floating      | 6.41%                 | No            |                  2 | On Loan: No      |
| BLOCK INC                                            | Block Inc                                                                        | CUSIP: 852234AS2<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |    438000 | PA      | $453332.63    | 0.07%             | 2032-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GARDA WORLD SECURITY                                 | Garda World Security Corp                                                        | CUSIP: 36485MAN9<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | DBT              | CORP              | CA        |    224000 | PA      | $232196.83    | 0.04%             | 2032-08-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| MKS Instruments Inc                                  | MKS Instruments Inc 2025 USD Repriced Term Loan                                  | CUSIP: 55314NAZ7<br>LEI: 549300KEQATBHAGVF505 | Long             | LON              | CORP              | US        |   1468864 | PA      | $1467335.98   | 0.24%             | 2029-08-17      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| SERVICE KING (CARNELIAN POINT)                       | SERVICE KING (CARNELIAN POINT)                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               |  | US        |      2435 | NS      | $0.02         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| HA SUSTAINABLE INF CAP                               | HA Sustainable Infrastructure Capital Inc                                        | CUSIP: 41068XAF7<br>LEI: 254900ZZRL7MWL1X8E92 | Long             | DBT              | CORP              | US        |     39000 | PA      | $39691.36     | 0.01%             | 2034-07-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| EXCELERATE ENERGY LP                                 | Excelerate Energy LP                                                             | CUSIP: 30069UAA6<br>LEI: LGL4IE90TNTFYJ55BK06 | Long             | DBT              | CORP              | US        |     57000 | PA      | $60674.73     | 0.01%             | 2030-05-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| CLARIV SCI HLD CORP                                  | Clarivate Science Holdings Corp                                                  | CUSIP: 18064PAC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    328000 | PA      | $315651.69    | 0.05%             | 2028-07-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Ontario Gaming GTA LP                                | Ontario Gaming GTA LP Term Loan B                                                | CUSIP: 000000000<br>LEI: 894500EC9KLZLOC3V025 | Long             | LON              | CORP              | CA        |    503530 | PA      | $490549.34    | 0.08%             | 2030-08-01      | Floating      | 8.24%                 | No            |                  2 | On Loan: No      |
| Sedgwick Claims Management Services Inc              | Sedgwick Claims Management Services Inc 2023 Term Loan B                         | CUSIP: 81527CAP2<br>LEI: 549300BIN4DWJG5VWF64 | Long             | LON              | CORP              | US        |   3570985 | PA      | $3565414.07   | 0.58%             | 2031-07-31      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| FTAI AVIATION INVESTORS                              | FTAI Aviation Investors LLC                                                      | CUSIP: 34960PAD3<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |    248000 | PA      | $248039.44    | 0.04%             | 2028-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SEAGATE DATA STOR                                    | Seagate Data Storage Technology Pte Ltd                                          | CUSIP: 81180LAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | SG        |     76000 | PA      | $77323.62     | 0.01%             | 2030-07-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| FOUR SEASONS HOTELS LIMITED                          | FOUR SEASONS HOTELS LIMITED 2025 TERM LOAN B                                     | CUSIP: 000000000<br>LEI: 5493009FUVX8LHYY2202 | Long             | LON              | CORP              | CA        |   2790059 | PA      | $2792960.38   | 0.45%             | 2032-09-22      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP/US FIN                             | Clarios Global LP / Clarios US Finance Co                                        | CUSIP: 18060TAE5<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    216000 | PA      | $220786.56    | 0.04%             | 2032-09-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Olympus Water US Holding Corporation                 | Olympus Water US Holding Corporation 2024 USD Term Loan                          | CUSIP: 68163YAJ4<br>LEI: 549300YU2GGVCBN3MY89 | Long             | LON              | CORP              | US        |   1945683 | PA      | $1924611.57   | 0.31%             | 2031-06-20      | Floating      | 7.00%                 | No            |                  2 | On Loan: No      |
| AZZ Inc                                              | AZZ Inc Term Loan B                                                              | CUSIP: 00247NAG7<br>LEI: 549300HD1X2NFLWPYC83 | Long             | LON              | CORP              | US        |    112087 | PA      | $112414.35    | 0.02%             | 2029-05-13      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| LCM INVESTMENTS HOLDINGS                             | LCM Investments Holdings II LLC                                                  | CUSIP: 50190EAC8<br>LEI: 549300P5V78NNQTG4428 | Long             | DBT              | CORP              | US        |     59000 | PA      | $62398.64     | 0.01%             | 2031-08-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| VITAL ENERGY INC                                     | Vital Energy Inc                                                                 | CUSIP: 516806AK2<br>LEI: 549300X0PTWU2QSLSL14 | Long             | DBT              | CORP              | US        |    128000 | PA      | $124254.37    | 0.02%             | 2032-04-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| MATCH GROUP HLD II LLC                               | Match Group Holdings II LLC                                                      | CUSIP: 57665RAL0<br>LEI: 5493003RFFE030RC9167 | Long             | DBT              | CORP              | US        |    137000 | PA      | $129395.49    | 0.02%             | 2030-08-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| EyeCare Partners LLC                                 | EyeCare Partners LLC 2024 Second Out Term Loan B                                 | CUSIP: 30233PAT7<br>LEI: 254900ZAACWK09RJ8W93 | Long             | LON              | CORP              | US        |    475438 | PA      | $298846.10    | 0.05%             | 2028-11-30      | Floating      | 5.23%                 | No            |                  2 | On Loan: No      |
| SVP SINGER                                           | SVP SINGER                                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15566 | NS      | $68101.25     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| MERITAGE HOMES CORP                                  | Meritage Homes Corp                                                              | CUSIP: 59001ABF8<br>LEI: 52990044W9UMFJO2FB97 | Long             | DBT              | CORP              | US        |     98000 | PA      | $100299.29    | 0.02%             | 2028-05-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Trans Union LLC                                      | Trans Union LLC 2024 Term Loan B8                                                | CUSIP: 89334GBF0<br>LEI: X8NPN6PWJOM1QCTYFV34 | Long             | LON              | CORP              | US        |   1873016 | PA      | $1871199.13   | 0.30%             | 2031-06-24      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| ALBION FINANCING 3 SARL                              | Albion Financing 3 SARL 2025 USD Term Loan                                       | CUSIP: 01330EAD0<br>LEI: 213800VFJ5CIN2NUQ821 | Long             | LON              | CORP              | US        |   1737423 | PA      | $1740688.91   | 0.28%             | 2031-05-21      | Floating      | 7.21%                 | No            |                  2 | On Loan: No      |
| ALBERTSONS COS/SAFEWAY                               | Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC            | CUSIP: 01309QAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    246000 | PA      | $251584.20    | 0.04%             | 2033-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| REYNOLDS CONSUMER PRODUCTS LLC                       | Reynolds Consumer Products LLC 2025 Term Loan B                                  | CUSIP: 76171JAE1<br>LEI: 549300DWNZYMOSR1X343 | Long             | LON              | CORP              | US        |    259695 | PA      | $260084.54    | 0.04%             | 2032-03-04      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| BAIN CAPITAL SPECIALTY F                             | Bain Capital Specialty Finance Inc                                               | CUSIP: 05684BAD9<br>LEI: 549300V2JL72R0EYBK64 | Long             | DBT              | CORP              | US        |     15000 | PA      | $15076.74     | 0.00%             | 2030-03-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| ALLSPRING BUYER LLC                                  | AllSpring Buyer LLC 2024 Term Loan B                                             | CUSIP: 98922AAE6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    608000 | PA      | $608760.00    | 0.10%             | 2030-11-01      | Floating      | 6.81%                 | No            |                  2 | On Loan: No      |
| Primo Brands Corporation                             | Primo Brands Corporation 2025 Term Loan B                                        | CUSIP: 89678QAD8<br>LEI: 254900J0WS4AXV2LAX55 | Long             | LON              | CORP              | US        |    823880 | PA      | $823435.43    | 0.13%             | 2028-03-31      | Floating      | 6.25%                 | No            |                  2 | On Loan: No      |
| WYNN MACAU LTD                                       | Wynn Macau Ltd                                                                   | CUSIP: 98313RAH9<br>LEI: 254900NMDQ8ENTHU1I31 | Long             | DBT              | CORP              | KY        |    400000 | PA      | $399204.00    | 0.06%             | 2028-08-26      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Orion US Finco Inc.                                  | Orion US Finco Inc 1st Lien Term Loan                                            | CUSIP: 68631KAB5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    908000 | PA      | $912540.00    | 0.15%             | 2032-05-20      | Floating      | 7.67%                 | No            |                  2 | On Loan: No      |
| GFL ENVIRONMENTAL INC                                | GFL Environmental Inc                                                            | CUSIP: 36168QAN4<br>LEI: 894500E7NLBY9VZRT696 | Long             | DBT              | CORP              | CA        |    164000 | PA      | $161755.96    | 0.03%             | 2029-06-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| RLJ LODGING TRUST LP                                 | RLJ Lodging Trust LP                                                             | CUSIP: 74965LAB7<br>LEI: 549300RX5I8Z6I6LDZ74 | Long             | DBT              |  | US        |     74000 | PA      | $69879.27     | 0.01%             | 2029-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VERTIV GROUP CORPORATION                             | Vertiv Group Corporation 2025 Term Loan                                          | CUSIP: 92537EAG3<br>LEI: 549300ZT8RQ5VK10E643 | Long             | LON              | CORP              | US        |   3492805 | PA      | $3496052.87   | 0.56%             | 2032-08-12      | Floating      | 6.03%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                                     | T-Mobile USA Inc                                                                 | CUSIP: 87264ABW4<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |     26000 | PA      | $24732.15     | 0.00%             | 2031-04-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| LUMEN TECHNOLOGIES INC                               | Lumen Technologies Inc                                                           | CUSIP: 550241AC7<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |     49941 | PA      | $48942.18     | 0.01%             | 2030-04-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC               | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | US        |         1 | NC      | $159.07       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Cobham Ultra SeniorCo Sarl                           | Cobham Ultra SeniorCo Sarl USD Term Loan B                                       | CUSIP: 000000000<br>LEI: 254900L6IKLPZKIC4F32 | Long             | LON              | CORP              | LU        |   1108411 | PA      | $1107767.72   | 0.18%             | 2029-08-03      | Floating      | 8.37%                 | No            |                  2 | On Loan: No      |
| SOLSTICE ADVANCED MATERI                             | Solstice Advanced Materials Inc                                                  | CUSIP: 83443QAA1<br>LEI: 2138004GZ4H9TW6HK435 | Long             | DBT              | CORP              | US        |    131000 | PA      | $131432.81    | 0.02%             | 2033-09-30      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| SNAP INC                                             | Snap Inc                                                                         | CUSIP: 83304AAL0<br>LEI: 549300JNC0L6VP8A2Q35 | Long             | DBT              | CORP              | US        |    239000 | PA      | $244281.57    | 0.04%             | 2033-03-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| CARVANA CO                                           | Carvana Co                                                                       | CUSIP: 146869AN2<br>LEI: 5493003WEAK2PJ5WS063 | Long             | DBT              | CORP              | US        |    170169 | PA      | $178033.70    | 0.03%             | 2030-06-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| ARES STRATEGIC INCOME FU                             | Ares Strategic Income Fund                                                       | CUSIP: 04020EAR8<br>LEI: 549300IANZJVZPTICV54 | Long             | DBT              | CORP              | US        |     55000 | PA      | $54345.05     | 0.01%             | 2031-01-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| TALEN ENERGY SUPPLY LLC                              | Talen Energy Supply LLC 2024-1 Incremental Term Loan                             | CUSIP: 87422LAY6<br>LEI: K5K33XN0PQAU1XF7NN66 | Long             | LON              | CORP              | US        |    607410 | PA      | $607537.56    | 0.10%             | 2031-12-15      | Floating      | 6.73%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                        | TransDigm Inc                                                                    | CUSIP: 893647BR7<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    129000 | PA      | $131458.61    | 0.02%             | 2028-08-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| STARWOOD PROPERTY TRUST                              | Starwood Property Trust Inc                                                      | CUSIP: 85571BBC8<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              |  | US        |     21000 | PA      | $21319.18     | 0.00%             | 2030-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| TRANSOCEAN INC                                       | Transocean International Ltd                                                     | CUSIP: 893830BX6<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | BM        |     35250 | PA      | $37089.03     | 0.01%             | 2030-02-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| PARK RIVER HOLDINGS INC                              | Park River Holdings Inc                                                          | CUSIP: 70082LAC1<br>LEI: 254900PGY077KWCROT75 | Long             | DBT              | CORP              | US        |     53000 | PA      | $53671.74     | 0.01%             | 2031-03-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Prime Security Services Borrower, LLC                | Prime Security Services Borrower LLC 2024 1st Lien Term Loan B                   | CUSIP: 03765VAP5<br>LEI: 549300O6QPZVWXV2DC15 | Long             | LON              | CORP              | US        |    869191 | PA      | $866531.14    | 0.14%             | 2030-10-13      | Floating      | 6.13%                 | No            |                  2 | On Loan: No      |
| FLUTTER FINANCING BV                                 | Flutter Financing BV 2025 Term Loan B                                            | CUSIP: 000000000<br>LEI: 635400VFWPBIKJK6GN11 | Long             | LON              | CORP              | NL        |   1202985 | PA      | $1200651.21   | 0.19%             | 2032-06-04      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC               | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | US        |         1 | NC      | $5034.09      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ENERFLEX LTD                                         | Enerflex Ltd                                                                     | CUSIP: 29269RAA3<br>LEI: 54930014N7872VUS3F89 | Long             | DBT              | CORP              | CA        |     31000 | PA      | $31563.46     | 0.01%             | 2027-10-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| RAVEN ACQUISITION HOLDIN                             | Raven Acquisition Holdings LLC                                                   | CUSIP: 75420NAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    106000 | PA      | $108932.81    | 0.02%             | 2031-11-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| ANYWHERE REAL EST/CO-ISS                             | Anywhere Real Estate Group LLC / Anywhere Co-Issuer Corp                         | CUSIP: 75606DAS0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     37393 | PA      | $37841.81     | 0.01%             | 2030-04-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Lonza Group AG                                       | Lonza Group AG USD Term Loan B                                                   | CUSIP: 000000000<br>LEI: 549300Y0CIXN5D40L888 | Long             | LON              | CORP              | US        |   1215006 | PA      | $1093663.36   | 0.18%             | 2028-07-03      | Floating      | 8.03%                 | No            |                  2 | On Loan: No      |
| WEX INC                                              | WEX Inc                                                                          | CUSIP: 96208TAD6<br>LEI: T9M5IGROL1TL1G5OV478 | Long             | DBT              | CORP              | US        |    176000 | PA      | $179745.81    | 0.03%             | 2033-03-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CLEAN HARBORS INC                                    | Clean Harbors Inc                                                                | CUSIP: 184496AQ0<br>LEI: 5493000SJVZVZJKHJF48 | Long             | DBT              | CORP              | US        |      7000 | PA      | $7168.24      | 0.00%             | 2031-02-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| ALLIANT HOLD / CO-ISSUER                             | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                   | CUSIP: 01883LAF0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    299000 | PA      | $308935.25    | 0.05%             | 2031-01-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| PREMIER ENTERTAINMENT SU                             | Premier Entertainment Sub LLC / Premier Entertainment Finance Corp               | CUSIP: 74052HAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     49000 | PA      | $25262.61     | 0.00%             | 2031-09-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| HESS MIDSTREAM OPERATION                             | Hess Midstream Operations LP                                                     | CUSIP: 428102AE7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     34000 | PA      | $32954.08     | 0.01%             | 2030-02-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| GVC Holdings (Gibraltar) Limited                     | GVC HOLDINGS GIBRALTAR LIMITED 2025 TERM LOAN B 2032                             | CUSIP: 000000000<br>LEI: 213800ATWJIEYQ8NF838 | Long             | LON              | CORP              | GI        |    328985 | PA      | $328340.66    | 0.05%             | 2032-07-31      | Floating      | 6.57%                 | No            |                  2 | On Loan: No      |
| ONESKY FLIGHT LLC                                    | OneSky Flight LLC                                                                | CUSIP: 68278CAA3<br>LEI: 549300PM6NEPXGG5B882 | Long             | DBT              | CORP              | US        |     59000 | PA      | $62041.63     | 0.01%             | 2029-12-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                               | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCK7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    102000 | PA      | $93965.59     | 0.02%             | 2031-02-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CARPENTER TECHNOLOGY                                 | Carpenter Technology Corp                                                        | CUSIP: 144285AM5<br>LEI: DX6I6ZD3X5WNNCDJKP85 | Long             | DBT              | CORP              | US        |     65000 | PA      | $66795.69     | 0.01%             | 2030-03-15      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| CNTRL PARENT/CDK GLB INC                             | Central Parent Inc / CDK Global Inc                                              | CUSIP: 15477CAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     68000 | PA      | $58551.74     | 0.01%             | 2029-06-15      | Fixed         | 7.25%                 | 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        |    650000 | PA      | $668166.85    | 0.11%             | 2030-12-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| SENSATA TECHNOLOGIES INC                             | Sensata Technologies Inc                                                         | CUSIP: 81728UAB0<br>LEI: 5493002MMDDCUNV7NY90 | Long             | DBT              | CORP              | US        |    145000 | PA      | $133817.41    | 0.02%             | 2031-02-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES INC                                | American Airlines Inc                                                            | CUSIP: 023771T40<br>LEI: IWUQB36BXD6OWD6X4T14 | Long             | DBT              | CORP              | US        |     74000 | PA      | $77193.32     | 0.01%             | 2029-05-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| ARDAGH METAL PACKAGING                               | Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC      | CUSIP: 03969YAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    285000 | PA      | $263772.25    | 0.04%             | 2029-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| AMWINS GROUP INC                                     | AmWINS Group Inc                                                                 | CUSIP: 031921AB5<br>LEI: 549300SJE7MUB8NMRG61 | Long             | DBT              | CORP              | US        |     88000 | PA      | $85526.39     | 0.01%             | 2029-06-30      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC                                    | Herc Holdings Inc                                                                | CUSIP: 42704LAG9<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |     61000 | PA      | $63678.02     | 0.01%             | 2033-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| PINNACLE BUYER LLC                                   | PINNACLE BUYER LLC TERM LOAN                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    873021 | PA      | $874112.73    | 0.14%             | 2032-09-10      | Floating      | 6.63%                 | No            |                  2 | On Loan: No      |
| Janus Henderson AAA CLO ETF                          | Janus Henderson AAA CLO ETF                                                      | CUSIP: 47103U845<br>LEI: 549300N7UZ9PO4OVKA94 | Long             | EC               | RF                | US        |    135000 | NS      | $6855300.00   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| SC GAMES HOLDIN/US FINCO                             | Scientific Games Holdings LP/Scientific Games US FinCo Inc                       | CUSIP: 80874DAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     58000 | PA      | $53923.36     | 0.01%             | 2030-03-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Aramark Services Inc                                 | Aramark Services Inc                                                             | CUSIP: 038522AQ1<br>LEI: 42YMHYH0XMHJEXDUB065 | Long             | DBT              | CORP              | US        |     41000 | PA      | $40806.66     | 0.01%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                                | Level 3 Financing Inc                                                            | CUSIP: 527298BS1<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |     18000 | PA      | $15578.14     | 0.00%             | 2029-01-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| OCEANEERING INTL INC                                 | Oceaneering International Inc                                                    | CUSIP: 675232AD4<br>LEI: 549300L6PH74701W0R30 | Long             | DBT              | CORP              | US        |     18000 | PA      | $18222.62     | 0.00%             | 2028-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| HESS MIDSTREAM OPERATION                             | Hess Midstream Operations LP                                                     | CUSIP: 428102AG2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     70000 | PA      | $72193.45     | 0.01%             | 2029-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| LAMAR MEDIA CORP                                     | Lamar Media Corp                                                                 | CUSIP: 513075CA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     67000 | PA      | $66507.14     | 0.01%             | 2033-11-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Gray Television Inc                                  | Gray Television Inc 2024 Term Loan B                                             | CUSIP: 389376BC7<br>LEI: 529900TM5726KDN7UU35 | Long             | LON              | CORP              | US        |      4400 | PA      | $4398.15      | 0.00%             | 2029-06-04      | Floating      | 9.53%                 | No            |                  2 | On Loan: No      |
| OPAL BIDCO SAS                                       | Opal Bidco SAS USD Term Loan B                                                   | CUSIP: 000000000<br>LEI: 969500R96XT7XY2UJ564 | Long             | LON              | CORP              | US        |   1775000 | PA      | $1778550.00   | 0.29%             | 2032-04-28      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| TRANSMONTAIGNE PARTNERS                              | TransMontaigne Partners LLC                                                      | CUSIP: 89377AAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     15000 | PA      | $15630.30     | 0.00%             | 2030-06-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                               | Venture Global LNG Inc                                                           | CUSIP: 92332YAF8<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |    715000 | PA      | $708621.91    | 0.11%             | 2029-09-30      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| STL HOLDING CO LLC                                   | STL Holding Co LLC                                                               | CUSIP: 861036AB7<br>LEI: 984500BC2I63E7F48656 | Long             | DBT              | CORP              | US        |     31000 | PA      | $32485.40     | 0.01%             | 2029-02-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| LUMEN TECHNOLOGIES INC                               | Lumen Technologies Inc                                                           | CUSIP: 550241AK9<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |     51002 | PA      | $51596.59     | 0.01%             | 2032-10-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Eaton Vance CDO Ltd                                  | Eaton Vance CLO 2019-1 Ltd                                                       | CUSIP: 27830XBC9<br>LEI: 5493007R7GEORNX00105 | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $2008154.60   | 0.32%             | 2037-07-15      | Floating      | 7.67%                 | No            |                  2 | On Loan: No      |
| JONES DESLAURIERS INSURA                             | Jones Deslauriers Insurance Management Inc                                       | CUSIP: 48020RAB1<br>LEI: 549300JQIWNFU00E5424 | Long             | DBT              | CORP              | CA        |    136000 | PA      | $142882.96    | 0.02%             | 2030-03-15      | Fixed         | 8.50%                 | 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        |    200000 | PA      | $193236.94    | 0.03%             | 2028-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SUBURBAN PROPANE PARTNRS                             | Suburban Propane Partners LP/Suburban Energy Finance Corp                        | CUSIP: 864486AL9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     29000 | PA      | $27593.21     | 0.00%             | 2031-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BOYNE USA INC                                        | Boyne USA Inc                                                                    | CUSIP: 103557AC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    165000 | PA      | $161880.46    | 0.03%             | 2029-05-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| RIVIAN HLD/AUTO LLC                                  | Rivian Holdings LLC/Rivian LLC/Rivian Automotive LLC                             | CUSIP: 76954LAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     73000 | PA      | $67955.37     | 0.01%             | 2031-01-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                             | CHS/Community Health Systems Inc                                                 | CUSIP: 12543DBN9<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |    209000 | PA      | $221351.27    | 0.04%             | 2032-01-15      | Fixed         | 10.88%                | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                              | Frontier Communications Holdings LLC                                             | CUSIP: 35906ABG2<br>LEI: 549300ZCZ76HYCS0H445 | Long             | DBT              | CORP              | US        |     28000 | PA      | $28279.30     | 0.00%             | 2029-05-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| NEP Group Inc                                        | NEP Group Inc 2023 Term Loan B                                                   | CUSIP: 62908HAM7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |       844 | PA      | $836.81       | 0.00%             | 2026-08-19      | Floating      | 7.71%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                                | Venture Global Plaquemines LNG LLC                                               | CUSIP: 922966AA4<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |     91000 | PA      | $100555.91    | 0.02%             | 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        |    515000 | PA      | $513179.11    | 0.08%             | 2027-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| GEN DIGITAL INC                                      | Gen Digital Inc 2025 Term Loan B                                                 | CUSIP: 66877AAG3<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | LON              | CORP              | US        |    289000 | PA      | $287627.25    | 0.05%             | 2032-04-16      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| Buckeye Partners LP                                  | Buckeye Partners LP                                                              | CUSIP: 118230AM3<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |     16000 | PA      | $14922.62     | 0.00%             | 2043-11-15      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| NAKED JUICE LLC                                      | Naked Juice LLC 2025 FLSO Term Loan                                              | CUSIP: 62984CAM5<br>LEI: 549300Y5TU1XQ1KVLJ64 | Long             | LON              | CORP              | US        |    829441 | PA      | $623565.22    | 0.10%             | 2029-01-24      | Floating      | 7.35%                 | No            |                  2 | On Loan: No      |
| CAPSTONE BORROWER INC                                | Capstone Borrower Inc                                                            | CUSIP: 140944AA7<br>LEI: 254900YSP2BAI3YKIX08 | Long             | DBT              | CORP              | US        |    280000 | PA      | $292821.48    | 0.05%             | 2030-06-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| LIFEPOINT HEALTH INC                                 | LifePoint Health Inc                                                             | CUSIP: 53219LAX7<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | DBT              | CORP              | US        |    218000 | PA      | $228891.06    | 0.04%             | 2032-06-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| SUNOCO LP                                            | Sunoco LP                                                                        | CUSIP: 86765KAF6<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |     40000 | PA      | $39704.92     | 0.01%             | 2031-03-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Delta 2 (LUX) S.a.r.l.                               | Delta 2 (LUX) Sarl 2024 Term Loan B1                                             | CUSIP: 000000000<br>LEI: 549300BBG8Z3D6QSYP53 | Long             | LON              | CORP              | LU        |   1712431 | PA      | $1711899.91   | 0.28%             | 2031-09-30      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| HILTON DOMESTIC OPERATIN                             | Hilton Domestic Operating Co Inc                                                 | CUSIP: 432833AR2<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |    304000 | PA      | $310321.98    | 0.05%             | 2033-03-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| NOVELIS CORP                                         | Novelis Corp                                                                     | CUSIP: 670001AL0<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |    123000 | PA      | $127547.80    | 0.02%             | 2030-01-30      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                             | Hilcorp Energy I LP / Hilcorp Finance Co                                         | CUSIP: 431318BC7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    144000 | PA      | $151240.03    | 0.02%             | 2033-11-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| ALTAGAS LTD                                          | AltaGas Ltd                                                                      | CUSIP: 021361AD2<br>LEI: 2549008X5V70MOS4HM10 | Long             | DBT              | CORP              | CA        |     52000 | PA      | $53789.48     | 0.01%             | 2054-10-15      | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| NEP/NCP Holdco Inc                                   | NEP/NCP Holdco Inc 2018 1st Lien Term Loan                                       | CUSIP: 62908HAD7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    144511 | PA      | $142102.41    | 0.02%             | 2026-08-19      | Floating      | 7.53%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                                       | Bombardier Inc                                                                   | CUSIP: 097751CD1<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |    106000 | PA      | $110617.19    | 0.02%             | 2033-06-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| FLUTTER TREASURY DAC                                 | Flutter Treasury DAC                                                             | CUSIP: 344045AB5<br>LEI: 635400JE8VLL9UFVIC38 | Long             | DBT              | CORP              | IE        |    200000 | PA      | $203004.00    | 0.03%             | 2031-06-04      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| White Cap Buyer LLC                                  | White Cap Buyer LLC 2024 Term Loan B                                             | CUSIP: 96350TAH3<br>LEI: 254900L2N0T6GULCL366 | Long             | LON              | CORP              | US        |   3470918 | PA      | $3470188.84   | 0.56%             | 2029-10-19      | Floating      | 7.42%                 | No            |                  2 | On Loan: No      |
| USI Inc                                              | USI Inc 2024 Term Loan D                                                         | CUSIP: 90351NAR6<br>LEI: 2549006D7UF7072T7I27 | Long             | LON              | CORP              | US        |   3612178 | PA      | $3607374.16   | 0.58%             | 2029-11-21      | Floating      | 6.25%                 | No            |                  2 | On Loan: No      |
| NORTHRIVER MIDSTREAM FIN                             | Northriver Midstream Finance LP                                                  | CUSIP: 66679NAB6<br>LEI: 549300SOLNLY3BL6GF18 | Long             | DBT              | CORP              | CA        |     42000 | PA      | $42949.02     | 0.01%             | 2032-07-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| SPIRIT AEROSYSTEMS INC                               | Spirit AeroSystems Inc                                                           | CUSIP: 85205TAN0<br>LEI: ZD2NBKV6GCC3UMGBM518 | Long             | DBT              | CORP              | US        |    111000 | PA      | $116907.31    | 0.02%             | 2029-11-30      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| WR GRACE HOLDING LLC                                 | WR Grace Holdings LLC                                                            | CUSIP: 92943GAA9<br>LEI: 549300WNOVFRGYOAEB12 | Long             | DBT              | CORP              | US        |   1071000 | PA      | $995492.14    | 0.16%             | 2029-08-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                               | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCS0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    227000 | PA      | $230118.07    | 0.04%             | 2029-09-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| SABRE GLBL INC                                       | Sabre GLBL Inc                                                                   | CUSIP: 78573NAM4<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | DBT              | CORP              | US        |    121000 | PA      | $117182.45    | 0.02%             | 2030-07-15      | Fixed         | 11.13%                | No            |                  2 | On Loan: No      |
| Station Casinos LLC                                  | Station Casinos LLC 2024 Term Loan B                                             | CUSIP: 85769EBB6<br>LEI: 5493004E7Q60TX54WL62 | Long             | LON              | CORP              | US        |   1874064 | PA      | $1873389.30   | 0.30%             | 2031-03-14      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| Ellucian Holdings, Inc.                              | Ellucian Holdings Inc 2024 1st Lien Term Loan B                                  | CUSIP: 28917XAB6<br>LEI: 549300RP8NIJ7FY7OS79 | Long             | LON              | CORP              | US        |   2861726 | PA      | $2859952.21   | 0.46%             | 2029-10-09      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                        | TransDigm Inc                                                                    | CUSIP: 893647BU0<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    181000 | PA      | $185054.58    | 0.03%             | 2029-03-01      | Fixed         | 6.38%                 | 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        |     89000 | PA      | $91769.68     | 0.01%             | 2027-09-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Fortress Intermediate 3, Inc                         | Fortress Intermediate 3 Inc 2025 Term Loan B                                     | CUSIP: 34966LAD6<br>LEI: 254900NLAZ3JQJW5JP75 | Long             | LON              | CORP              | US        |    562859 | PA      | $564266.59    | 0.09%             | 2031-06-27      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| SS&C TECHNOLOGIES INC                                | SS&C Technologies Inc                                                            | CUSIP: 78466CAD8<br>LEI: 549300KY09TR3J12JU49 | Long             | DBT              | CORP              | US        |    374000 | PA      | $386655.08    | 0.06%             | 2032-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| OLA Netherlands BV                                   | OLA Netherlands BV Term Loan                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | NL        |    718893 | PA      | $713501.00    | 0.12%             | 2026-12-15      | Floating      | 10.51%                | No            |                  2 | On Loan: No      |
| SOTHEBY'S/BIDFAIR HLD                                | Sotheby's/Bidfair Holdings Inc                                                   | CUSIP: 83600GAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    202000 | PA      | $184058.60    | 0.03%             | 2029-06-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE SA                                     | Altice France SA                                                                 | CUSIP: 02156LAH4<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $172987.27    | 0.03%             | 2029-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CITRIN COOPERMAN ADVISORS LLC                        | Citrin Cooperman Advisors LLC 2025 Term Loan B                                   | CUSIP: 17737EAC7<br>LEI: 254900DPG9ZEAP5MK895 | Long             | LON              | CORP              | US        |    736165 | PA      | $732255.56    | 0.12%             | 2032-04-01      | Floating      | 7.00%                 | No            |                  2 | On Loan: No      |
| ELEMENT SOLUTIONS INC                                | Element Solutions Inc                                                            | CUSIP: 28618MAA4<br>LEI: 549300FLGN6P5CU20J91 | Long             | DBT              | CORP              | US        |    590000 | PA      | $571787.76    | 0.09%             | 2028-09-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| TEMPO ACQUISITION LLC                                | Tempo Acquisition LLC 2025 Repriced Term Loan B                                  | CUSIP: 88023HAJ9<br>LEI: 549300VV0B2RPMHQGA61 | Long             | LON              | CORP              | US        |    981500 | PA      | $958326.62    | 0.15%             | 2028-08-31      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                                | LEVEL 3 FINANCING INC 2025 REPRICED TERM LOAN B4                                 | CUSIP: 000000000<br>LEI: 254900AE5FEFIJOXWL19 | Long             | LON              | CORP              | US        |    459000 | PA      | $459000.00    | 0.07%             | 2032-03-29      | Floating      | 7.42%                 | No            |                  2 | On Loan: No      |
| DIVERSIFIED HEALTHCARE T                             | Diversified Healthcare Trust                                                     | CUSIP: 25525PAE7<br>LEI: N/A                  | Long             | DBT              |  | US        |     43000 | PA      | $43702.17     | 0.01%             | 2030-10-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| TEREX CORP                                           | Terex Corp                                                                       | CUSIP: 880779BB8<br>LEI: YAWJZJYEQ7M1SYMOS462 | Long             | DBT              | CORP              | US        |     43000 | PA      | $43803.93     | 0.01%             | 2032-10-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Cushman & Wakefield U.S. Borrower, LLC               | Cushman & Wakefield US Borrower LLC 2025 Term Loan B3                            | CUSIP: 23340DAW2<br>LEI: 549300870CMN3WI5IF97 | Long             | LON              | CORP              | US        |    550498 | PA      | $551532.44    | 0.09%             | 2030-01-31      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                                 | OneMain Finance Corp                                                             | CUSIP: 682691AG5<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |     52000 | PA      | $53923.12     | 0.01%             | 2031-11-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| MIDCONTINENT COMMUNICATI                             | Midcontinent Communications                                                      | CUSIP: 59565XAD2<br>LEI: 549300ZI9GDQBS28C408 | Long             | DBT              | CORP              | US        |    111000 | PA      | $114363.63    | 0.02%             | 2032-08-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Charter Communications Operating LLC                 | Charter Communications Operating LLC 2023 Term Loan B4                           | CUSIP: 16117LCB3<br>LEI: 549300TPZNMN50BJ3745 | Long             | LON              | CORP              | US        |   1230948 | PA      | $1229150.33   | 0.20%             | 2030-12-07      | Floating      | 6.29%                 | No            |                  2 | On Loan: No      |
| SENSATA TECHNOLOGIES BV                              | Sensata Technologies BV                                                          | CUSIP: 81725WAK9<br>LEI: PUCKW5P5O3XMOZVH7T53 | Long             | DBT              | CORP              | NL        |     36000 | PA      | $34548.20     | 0.01%             | 2029-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| AMERICAN AXLE & MFG INC                              | American Axle & Manufacturing Inc                                                | CUSIP: 02406PBC3<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | DBT              | CORP              | US        |     48000 | PA      | $47918.96     | 0.01%             | 2032-10-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| PENNYMAC FIN SVCS INC                                | PennyMac Financial Services Inc                                                  | CUSIP: 70932MAD9<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |     52000 | PA      | $55187.44     | 0.01%             | 2029-12-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| LIONS GATE CAPITAL HOL 1                             | Starz Capital Holdings 1 Inc                                                     | CUSIP: 535939AA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     54000 | PA      | $51210.36     | 0.01%             | 2030-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NOURYON FINANCE BV                                   | Nouryon Finance BV 2024 USD Term Loan B1                                         | CUSIP: 000000000<br>LEI: 549300GD4NJGLPVYB245 | Long             | LON              | CORP              | NL        |   1093546 | PA      | $1094235.37   | 0.18%             | 2028-04-03      | Floating      | 7.50%                 | No            |                  2 | On Loan: No      |
| SERVICE PROPERTIES TRUST                             | Service Properties Trust                                                         | CUSIP: 81761LAE2<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              |  | US        |    113000 | PA      | $113634.95    | 0.02%             | 2032-06-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| AMENTUM HOLDINGS INC                                 | Amentum Holdings Inc                                                             | CUSIP: 02352BAA3<br>LEI: 2549009FJIBLW40CU216 | Long             | DBT              | CORP              | US        |     63000 | PA      | $65417.06     | 0.01%             | 2032-08-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Clover Holdings SPV III LLC                          | Clover Holdings SPV III LLC 2024 USD Term Loan                                   | CUSIP: 000000000<br>LEI: 549300RFUWCPWS8FQ104 | Long             | LON              | CORP              | US        |      9462 | PA      | $9674.91      | 0.00%             | 2027-12-09      | Fixed         | 15.00%                | No            |                  2 | On Loan: No      |
| QUIKRETE HOLDINGS INC                                | Quikrete Holdings Inc 2025 Term Loan B                                           | CUSIP: 74839XAL3<br>LEI: 5493007KIN86DIZWZT22 | Long             | LON              | CORP              | US        |   2216860 | PA      | $2215352.54   | 0.36%             | 2032-02-10      | Floating      | 6.41%                 | No            |                  2 | On Loan: No      |
| CHEMOURS CO                                          | Chemours Co/The                                                                  | CUSIP: 163851AE8<br>LEI: 549300M1BOLNXL8DOV14 | Long             | DBT              | CORP              | US        |     96000 | PA      | $95920.68     | 0.02%             | 2027-05-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| FERTITTA ENTERTAINMENT                               | Fertitta Entertainment LLC / Fertitta Entertainment Finance Co Inc               | CUSIP: 31556TAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    139000 | PA      | $132291.60    | 0.02%             | 2029-01-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| WINDSTREAM SERVICES LLC                              | Windstream Services LLC                                                          | CUSIP: 97382BAB5<br>LEI: 549300KT9GVEBYCD2N29 | Long             | DBT              | CORP              | US        |    112000 | PA      | $111969.76    | 0.02%             | 2033-10-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| XPLR INFRAST OPERATING                               | XPLR Infrastructure Operating Partners LP                                        | CUSIP: 98380MAA3<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |    304000 | PA      | $318592.00    | 0.05%             | 2031-01-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| CLOVER HOLDINGS 2 LLC                                | Clover Holdings 2 LLC Term Loan B                                                | CUSIP: 18914DAB4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2991375 | PA      | $2990447.67   | 0.48%             | 2031-12-09      | Floating      | 7.94%                 | No            |                  2 | On Loan: No      |
| TURBO CAYMAN LIMITED WARRANTS EQUITY WARRANT EXP     | TURBO CAYMAN LIMITED WARRANTS EQUITY WARRANT EXP                                 | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               |  | KY        |         1 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                             | Hilcorp Energy I LP / Hilcorp Finance Co                                         | CUSIP: 431318AZ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      5000 | PA      | $4796.74      | 0.00%             | 2032-04-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| TRANS UNION LLC                                      | Trans Union LLC 2024 Term Loan B9                                                | CUSIP: 89334GBG8<br>LEI: X8NPN6PWJOM1QCTYFV34 | Long             | LON              | CORP              | US        |   1589010 | PA      | $1587389.52   | 0.26%             | 2031-06-24      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| ATLAS LUXCO 4 / ALL UNI                              | Allied Universal Holdco LLC/Allied Universal Finance Corp/Atlas Luxco 4 Sarl     | CUSIP: 019579AA9<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    200000 | PA      | $196033.50    | 0.03%             | 2028-06-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Lumen Technologies Inc                               | Lumen Technologies Inc 2024 Extended Term Loan B1                                | CUSIP: 55024EAF2<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | LON              | CORP              | US        |   1060918 | PA      | $1053109.51   | 0.17%             | 2029-04-16      | Floating      | 6.63%                 | No            |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS                             | Univision Communications Inc                                                     | CUSIP: 914906BA9<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |    127000 | PA      | $135339.71    | 0.02%             | 2032-08-01      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| Ziggo Financing Partnership                          | Ziggo Financing Partnership USD Term Loan I                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    978631 | PA      | $975577.25    | 0.16%             | 2028-04-30      | Floating      | 6.76%                 | No            |                  2 | On Loan: No      |
| Hunter Douglas Inc.                                  | Hunter Douglas Inc 2025 USD Term Loan B                                          | CUSIP: 000000000<br>LEI: 529900811T142NS3H544 | Long             | LON              | CORP              | US        |   1977779 | PA      | $1977778.89   | 0.32%             | 2032-01-20      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| DREAM FINDERS HOMES INC                              | Dream Finders Homes Inc                                                          | CUSIP: 26154DAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     26000 | PA      | $26973.83     | 0.00%             | 2028-08-15      | Fixed         | 8.25%                 | 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        |    140000 | PA      | $147692.02    | 0.02%             | 2031-02-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| SNAP INC                                             | Snap Inc                                                                         | CUSIP: 83304AAM8<br>LEI: 549300JNC0L6VP8A2Q35 | Long             | DBT              | CORP              | US        |    103000 | PA      | $104249.54    | 0.02%             | 2034-03-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| WR Grace & Co-Conn                                   | WR Grace & Co-Conn 2025 Term Loan B                                              | CUSIP: 92943HAD1<br>LEI: 549300WNOVFRGYOAEB12 | Long             | LON              | CORP              | US        |   1227000 | PA      | $1229049.09   | 0.20%             | 2032-08-19      | Floating      | 7.00%                 | No            |                  2 | On Loan: No      |
| CABLE ONE INC                                        | Cable One Inc                                                                    | CUSIP: 12685JAG0<br>LEI: 549300648QS85T0XSH18 | Long             | DBT              | CORP              | US        |    111000 | PA      | $94738.50     | 0.02%             | 2028-03-15      | Fixed         | 1.13%                 | No            |                  2 | On Loan: No      |
| NEW ENTERPRISE STONE & L                             | New Enterprise Stone & Lime Co Inc                                               | CUSIP: 644274AH5<br>LEI: 549300O5DQ5Y61B8VF38 | Long             | DBT              | CORP              | US        |     26000 | PA      | $25760.06     | 0.00%             | 2028-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| AMNEAL PHARMACEUTICALS L                             | Amneal Pharmaceuticals LLC                                                       | CUSIP: 03168LAA3<br>LEI: 54930037VIXE7LRZ1M66 | Long             | DBT              | CORP              | US        |     56000 | PA      | $57915.89     | 0.01%             | 2032-08-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| GLOBAL PART/GLP FINANCE                              | Global Partners LP / GLP Finance Corp                                            | CUSIP: 37954FAL8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     39000 | PA      | $39974.34     | 0.01%             | 2033-07-01      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| UNITED AIRLINES INC                                  | United Airlines Inc 2024 1st Lien Term Loan B                                    | CUSIP: 90932RAP9<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | LON              | CORP              | US        |   1205501 | PA      | $1207514.06   | 0.20%             | 2031-02-22      | Floating      | 6.20%                 | No            |                  2 | On Loan: No      |
| PARKLAND CORP                                        | Parkland Corp                                                                    | CUSIP: 70137WAN8<br>LEI: 549300UY5C6HUV0XLS53 | Long             | DBT              | CORP              | CA        |     45000 | PA      | $46240.29     | 0.01%             | 2032-08-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| 1011778 BC / NEW RED FIN                             | 1011778 BC ULC / New Red Finance Inc                                             | CUSIP: 68245XAM1<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    193000 | PA      | $181887.72    | 0.03%             | 2030-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                                 | OneMain Finance Corp                                                             | CUSIP: 682691AF7<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |     21000 | PA      | $21952.60     | 0.00%             | 2031-05-15      | Fixed         | 7.50%                 | 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        |    460000 | PA      | $476503.14    | 0.08%             | 2031-10-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| VAIL RESORTS INC                                     | Vail Resorts Inc                                                                 | CUSIP: 91879QAP4<br>LEI: 529900PSZHRNU9HKH870 | Long             | DBT              | CORP              | US        |     90000 | PA      | $93055.50     | 0.02%             | 2032-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| MIDWEST GMNG BOR/MWG FIN                             | Midwest Gaming Borrower LLC / Midwest Gaming Finance Corp                        | CUSIP: 59833DAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     40000 | PA      | $38884.02     | 0.01%             | 2029-05-01      | Fixed         | 4.88%                 | 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        |     84000 | PA      | $86510.76     | 0.01%             | 2033-06-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Bally's Corporation                                  | Bally's Corporation 2021 Term Loan B                                             | CUSIP: 05875CAB0<br>LEI: 549300NS4D5IK406VT62 | Long             | LON              | CORP              | US        |    802769 | PA      | $778019.47    | 0.13%             | 2028-10-02      | Floating      | 7.84%                 | No            |                  2 | On Loan: No      |
| VS BUYER LLC                                         | VS Buyer LLC 2025 Term Loan B                                                    | CUSIP: 91834WAG5<br>LEI: 254900G5QLDMHSCYJK25 | Long             | LON              | CORP              | US        |   2364285 | PA      | $2357641.10   | 0.38%             | 2031-04-12      | Floating      | 6.56%                 | No            |                  2 | On Loan: No      |
| American Airlines, Inc.                              | American Airlines Inc 2025 Term Loan                                             | CUSIP: 02376CBS3<br>LEI: IWUQB36BXD6OWD6X4T14 | Long             | LON              | CORP              | KY        |    813821 | PA      | $812128.47    | 0.13%             | 2028-04-20      | Floating      | 6.58%                 | No            |                  2 | On Loan: No      |
| Cloud Software Group Inc                             | Cloud Software Group Inc 2025 Term Loan B (2031)                                 | CUSIP: 88632NBK5<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | LON              | CORP              | US        |   2712562 | PA      | $2721893.08   | 0.44%             | 2031-03-21      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| M6 ETX HOLDINGS II MIDCO LLC                         | M6 ETX Holdings II Midco LLC 2025 Term Loan B                                    | CUSIP: 55285DAG6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    539648 | PA      | $539647.50    | 0.09%             | 2032-04-01      | Floating      | 9.25%                 | No            |                  2 | On Loan: No      |
| Murphy USA Inc                                       | Murphy USA Inc Term Loan B                                                       | CUSIP: 62675KAB5<br>LEI: N32S6DTR2ZZ5222WHV58 | Long             | LON              | CORP              | US        |    313000 | PA      | $315281.77    | 0.05%             | 2032-04-07      | Floating      | 6.03%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                       | NRG Energy Inc                                                                   | CUSIP: 629377CW0<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    186000 | PA      | $188896.21    | 0.03%             | 2033-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MAGENTA SECURITY HOLDINGS LLC                        | Magenta Security Holdings LLC 2024 First Out Term Loan                           | CUSIP: 55909UAE9<br>LEI: 254900F51KU7HIRXTS68 | Long             | LON              | CORP              | US        |    307457 | PA      | $251173.91    | 0.04%             | 2028-07-27      | Floating      | 11.32%                | No            |                  2 | On Loan: No      |
| BUCKEYE PARTNERS LP                                  | Buckeye Partners LP 2025 Term Loan B2                                            | CUSIP: 11823LAQ8<br>LEI: 549300C1PQJLVEIUBK50 | Long             | LON              | CORP              | US        |    348250 | PA      | $348375.37    | 0.06%             | 2030-11-22      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| PRA Health Sciences Inc                              | PRA Health Sciences Inc 2024 US Term Loan B                                      | CUSIP: 000000000<br>LEI: 549300R1HR1VWWHIAK47 | Long             | LON              | CORP              | US        |    121751 | PA      | $121650.22    | 0.02%             | 2028-07-03      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                         | UBS Group AG                                                                     | CUSIP: 902613BK3<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    200000 | PA      | $215842.00    | 0.03%             | 2031-04-12      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| APEX GROUP TREASURY LLC                              | Apex Group Treasury LLC 2025 USD Term Loan B                                     | CUSIP: 000000000<br>LEI: 254900N6HRPDDNW7HP03 | Long             | LON              | CORP              | US        |   1493020 | PA      | $1457560.78   | 0.24%             | 2032-02-27      | Floating      | 7.75%                 | No            |                  2 | On Loan: No      |
| LIGHT & WONDER INTL INC                              | Light & Wonder International Inc                                                 | CUSIP: 531968AA3<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | DBT              | CORP              | US        |     41000 | PA      | $42638.28     | 0.01%             | 2031-09-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| ATS CORP                                             | ATS Corp                                                                         | CUSIP: 001940AC9<br>LEI: 5493005KP4RP3IU7HQ41 | Long             | DBT              | CORP              | CA        |     35000 | PA      | $33533.34     | 0.01%             | 2028-12-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                                       | Bombardier Inc                                                                   | CUSIP: 097751CB5<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |    112000 | PA      | $118723.61    | 0.02%             | 2031-07-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| WHIRLPOOL CORP                                       | Whirlpool Corp                                                                   | CUSIP: 963320BD7<br>LEI: WHENKOULSSK7WUM60H03 | Long             | DBT              | CORP              | US        |     51000 | PA      | $51399.44     | 0.01%             | 2030-06-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| Roper Industrial Products Investment Company LLC     | Roper Industrial Products Investment Company LLC 2024 USD 1st Lien Term Loan B   | CUSIP: 77669LAK9<br>LEI: 254900RXO1EICEHOLG29 | Long             | LON              | CORP              | US        |    791486 | PA      | $792150.37    | 0.13%             | 2029-11-22      | Floating      | 6.75%                 | 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        |     93000 | PA      | $96989.33     | 0.02%             | 2029-10-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| QUIKRETE HOLDINGS INC                                | Quikrete Holdings Inc                                                            | CUSIP: 74843PAB6<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |     80000 | PA      | $83175.50     | 0.01%             | 2033-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| DIRECTV FINANCING LLC                                | Directv Financing LLC                                                            | CUSIP: 254945AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    154000 | PA      | $152109.08    | 0.02%             | 2030-02-01      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| ALLIED UNIVERSAL                                     | Allied Universal Holdco LLC / Allied Universal Finance Corp                      | CUSIP: 019576AF4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    220000 | PA      | $226122.60    | 0.04%             | 2030-06-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| BLUE RACER MID LLC/FINAN                             | Blue Racer Midstream LLC / Blue Racer Finance Corp                               | CUSIP: 095796AJ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     56000 | PA      | $58068.20     | 0.01%             | 2029-07-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| GOODYEAR TIRE & RUBBER                               | Goodyear Tire & Rubber Co/The                                                    | CUSIP: 382550BS9<br>LEI: 5493002BI0S2ZQUY3437 | Long             | DBT              | CORP              | US        |     52000 | PA      | $52762.28     | 0.01%             | 2030-07-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| ZAYO GROUP HOLDINGS INC                              | Zayo Group Holdings Inc                                                          | CUSIP: 98919VAC9<br>LEI: 529900Z6OTS7RT0V0I47 | Long             | DBT              | CORP              | US        |    461135 | PA      | $441536.46    | 0.07%             | 2030-03-09      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| Hertz Corporation, (The)                             | Hertz Corporation (The) 2021 Term Loan C                                         | CUSIP: 42804VBC4<br>LEI: 549300PD0C69OJ0NLB27 | Long             | LON              | CORP              | US        |    198772 | PA      | $178091.99    | 0.03%             | 2028-06-30      | Floating      | 8.07%                 | No            |                  2 | On Loan: No      |
| FREEDOM MORTGAGE HOLD                                | Freedom Mortgage Holdings LLC                                                    | CUSIP: 35641AAA6<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |     42000 | PA      | $44191.38     | 0.01%             | 2029-02-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| SPEEDSTER BIDCO GMBH                                 | Speedster Bidco GmbH 2024 USD Term Loan B                                        | CUSIP: 000000000<br>LEI: 254900LE837QB2YYV824 | Long             | LON              | CORP              | DE        |   2151204 | PA      | $2152558.78   | 0.35%             | 2031-12-10      | Floating      | 7.24%                 | No            |                  2 | On Loan: No      |
| DARLING INGREDIENTS INC                              | Darling Ingredients Inc                                                          | CUSIP: 237266AJ0<br>LEI: L1N0SPPKS7EXZYUMZ898 | Long             | DBT              | CORP              | US        |    151000 | PA      | $152443.71    | 0.02%             | 2030-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Aramark Services Inc                                 | Aramark Services Inc 2024 Term Loan B8                                           | CUSIP: 03852JAV3<br>LEI: 42YMHYH0XMHJEXDUB065 | Long             | LON              | CORP              | US        |    946148 | PA      | $947132.00    | 0.15%             | 2030-06-22      | Floating      | 6.20%                 | No            |                  2 | On Loan: No      |
| LIFEPOINT HEALTH INC                                 | LifePoint Health Inc                                                             | CUSIP: 53219LAY5<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | DBT              | CORP              | US        |     49000 | PA      | $52219.70     | 0.01%             | 2032-02-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Foundation Building Materials Holding Company LLC    | Foundation Building Materials Holding Company LLC 2024 Term Loan B2              | CUSIP: 35039KAD8<br>LEI: 549300ZVE6MONHB01I28 | Long             | LON              | CORP              | US        |   2147718 | PA      | $2150402.31   | 0.35%             | 2031-01-29      | Floating      | 8.31%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC               | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | US        |         1 | NC      | $-122.69      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| SERVICE PROPERTIES TRUST                             | Service Properties Trust                                                         | CUSIP: 81761LAC6<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              |  | US        |    556000 | PA      | $591969.86    | 0.10%             | 2031-11-15      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| ASCENT RESOURCES/ARU FIN                             | Ascent Resources Utica Holdings LLC / ARU Finance Corp                           | CUSIP: 04364VBA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     54000 | PA      | $54899.72     | 0.01%             | 2033-07-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                                       | Bombardier Inc                                                                   | CUSIP: 097751CC3<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |     62000 | PA      | $64801.35     | 0.01%             | 2032-06-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| STITCH AQUISITION CORPORATION                        | Stitch Aquisition Corporation 2024 2nd Out Term Loan                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    211346 | PA      | $172247.16    | 0.03%             | 2029-12-31      | Floating      | 11.76%                | No            |                  2 | On Loan: No      |
| OUTFRONT MEDIA CAPITAL LLC                           | OUTFRONT MEDIA CAPITAL LLC 2025 TERM LOAN B                                      | CUSIP: 000000000<br>LEI: 5493005WC7J0FDMW0610 | Long             | LON              | CORP              | US        |    738000 | PA      | $737542.44    | 0.12%             | 2032-09-24      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| AAR ESCROW ISSUER LLC                                | AAR Escrow Issuer LLC                                                            | CUSIP: 00253PAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     80000 | PA      | $82353.97     | 0.01%             | 2029-03-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ANYWHERE RE GRP/REALOGY                              | Anywhere Real Estate Group LLC / Realogy Co-Issuer Corp                          | CUSIP: 75606DAV3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     42000 | PA      | $45835.99     | 0.01%             | 2030-04-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                              | Frontier Communications Holdings LLC                                             | CUSIP: 35908MAB6<br>LEI: 549300ZCZ76HYCS0H445 | Long             | DBT              | CORP              | US        |     59000 | PA      | $59694.02     | 0.01%             | 2030-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD                                  | NCL Corp Ltd                                                                     | CUSIP: 62886HBZ3<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |    218000 | PA      | $219128.32    | 0.04%             | 2033-09-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| MEDLINE BORROWER LP                                  | Medline Borrower LP 2025 Incremental Term Loan B                                 | CUSIP: 58503UAJ2<br>LEI: 254900QT3R363TVK6F09 | Long             | LON              | CORP              | US        |    244388 | PA      | $244235.98    | 0.04%             | 2030-10-23      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| REWORLD HOLDING CORP                                 | REWORLD HOLDING CORP 2025 1st LIEN TERM LOAN B                                   | CUSIP: 22282GAR8<br>LEI: 40XIFLS8XDQGGHGPGC04 | Long             | LON              | CORP              | US        |    365000 | PA      | $363861.20    | 0.06%             | 2031-01-15      | Floating      | 6.41%                 | No            |                  2 | On Loan: No      |
| KAISER ALUMINUM CORP                                 | Kaiser Aluminum Corp                                                             | CUSIP: 483007AJ9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     63000 | PA      | $62294.50     | 0.01%             | 2028-03-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| UWM HOLDINGS LLC                                     | UWM Holdings LLC                                                                 | CUSIP: 903522AB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     56000 | PA      | $55733.29     | 0.01%             | 2031-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| SS&C Technologies Inc                                | SS&C Technologies Inc 2024 Term Loan B8                                          | CUSIP: 78466DBJ2<br>LEI: 549300KY09TR3J12JU49 | Long             | LON              | CORP              | US        |   2631552 | PA      | $2637394.51   | 0.43%             | 2031-05-09      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| NOVELIS CORP                                         | Novelis Corp                                                                     | CUSIP: 670001AH9<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |     81000 | PA      | $73846.74     | 0.01%             | 2031-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Intrado Corporation                                  | Intrado Corporation 2023 Term Loan B                                             | CUSIP: 40147EAB5<br>LEI: 254900OSYC6XQ21DY128 | Long             | LON              | CORP              | US        |    287542 | PA      | $287481.12    | 0.05%             | 2030-01-31      | Floating      | 7.50%                 | No            |                  2 | On Loan: No      |
| HUB INTERNATIONAL LTD                                | HUB International Ltd                                                            | CUSIP: 44332PAH4<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |   1007000 | PA      | $1050205.46   | 0.17%             | 2030-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| SIRIUS XM RADIO LLC                                  | Sirius XM Radio LLC                                                              | CUSIP: 82967NBA5<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |     24000 | PA      | $23884.75     | 0.00%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Banco Espirito Santo SA                              | Banco Espirito Santo SA                                                          | CUSIP: 000000000<br>LEI: 635400JV7IJL16OWIT96 | Long             | DBT              | CORP              | PT        |    100000 | PA      | $25829.11     | 0.00%             | 2017-05-08      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| SHIFT4 PAYMENTS LLC/FIN                              | Shift4 Payments LLC / Shift4 Payments Finance Sub Inc                            | CUSIP: 82453AAB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    262000 | PA      | $270879.44    | 0.04%             | 2032-08-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| INSULET CORPORATION                                  | Insulet Corp                                                                     | CUSIP: 45784PAL5<br>LEI: 549300TZTYD2PYN92D43 | Long             | DBT              | CORP              | US        |    144000 | PA      | $149707.01    | 0.02%             | 2033-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Bright Horizons Family Solutions LLC                 | Bright Horizons Family Solutions LLC 2025 Term Loan B                            | CUSIP: 10919RAR0<br>LEI: 254900BHOU40CFNXWQ75 | Long             | LON              | CORP              | US        |   1139422 | PA      | $1142987.99   | 0.18%             | 2032-08-23      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| BLUE OWL TECHNOLOGY FIN                              | Blue Owl Technology Finance Corp II                                              | CUSIP: 69121JAB3<br>LEI: 254900G5EZJSOD3UKL16 | Long             | DBT              | CORP              | US        |     16000 | PA      | $16507.44     | 0.00%             | 2029-04-04      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Crash Champions LLC                                  | Crash Champions LLC 2024 Term Loan B                                             | CUSIP: 15870MAC0<br>LEI: 391200ZDD75EGEUJ7625 | Long             | LON              | CORP              | US        |    155527 | PA      | $145417.29    | 0.02%             | 2029-02-23      | Floating      | 8.95%                 | No            |                  2 | On Loan: No      |
| CARNIVAL PLC                                         | Carnival PLC                                                                     | CUSIP: 000000000<br>LEI: 4DR1VPDQMHD3N3QW8W95 | Long             | DBT              | CORP              | GB        |    125000 | PA      | $148563.41    | 0.02%             | 2031-07-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| MATTAMY GROUP CORP                                   | Mattamy Group Corp                                                               | CUSIP: 57701RAM4<br>LEI: 5493008TNY7A82WCXU31 | Long             | DBT              | CORP              | CA        |     72000 | PA      | $69490.94     | 0.01%             | 2030-03-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| CENTURY COMMUNITIES                                  | Century Communities Inc                                                          | CUSIP: 156504AN2<br>LEI: 5299002QMB2O7ZL1CA26 | Long             | DBT              | CORP              | US        |     55000 | PA      | $55481.76     | 0.01%             | 2033-09-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| PERMIAN RESOURC OPTG LLC                             | Permian Resources Operating LLC                                                  | CUSIP: 71424VAB6<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |    135000 | PA      | $137518.43    | 0.02%             | 2033-02-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| FORTRESS INTERMEDIATE                                | Fortress Intermediate 3 Inc                                                      | CUSIP: 34966MAA0<br>LEI: 254900NLAZ3JQJW5JP75 | Long             | DBT              | CORP              | US        |    210000 | PA      | $219878.61    | 0.04%             | 2031-06-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| MGM RESORTS INTL                                     | MGM Resorts International                                                        | CUSIP: 552953CK5<br>LEI: 54930066VBP7DZEGGJ87 | Long             | DBT              | CORP              | US        |     97000 | PA      | $98726.35     | 0.02%             | 2029-09-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| IRIDIUM SATELLITE LLC                                | Iridium Satellite LLC 2024 Term Loan B                                           | CUSIP: 46269KAT1<br>LEI: 254900615BJ7139TFM33 | Long             | LON              | CORP              | US        |    571944 | PA      | $540807.12    | 0.09%             | 2030-09-20      | Floating      | 6.41%                 | No            |                  2 | On Loan: No      |
| Hilton Domestic Operating Company Inc                | Hilton Domestic Operating Company Inc 2023 Term Loan B4                          | CUSIP: 43289DAK9<br>LEI: 5493003EG7H0N1E4XV50 | Long             | LON              | CORP              | US        |    696000 | PA      | $696445.44    | 0.11%             | 2030-11-08      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| ALTERRA MOUNTAIN COMPANY                             | Alterra Mountain Company 2025 Term Loan B8                                       | CUSIP: 46124CAS6<br>LEI: 549300C5O4FSVNUEI843 | Long             | LON              | CORP              | US        |    923743 | PA      | $924325.20    | 0.15%             | 2030-05-31      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| COMSTOCK RESOURCES INC                               | Comstock Resources Inc                                                           | CUSIP: 205768AS3<br>LEI: I03QQGEA4SS774AURI46 | Long             | DBT              | CORP              | US        |    316000 | PA      | $315483.85    | 0.05%             | 2029-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Lumen Technologies Inc                               | Lumen Technologies Inc 2024 Term Loan A                                          | CUSIP: 55024EAD7<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | LON              | CORP              | US        |    120661 | PA      | $122547.10    | 0.02%             | 2028-06-01      | Floating      | 10.16%                | No            |                  2 | On Loan: No      |
| UWM HOLDINGS LLC                                     | UWM Holdings LLC                                                                 | CUSIP: 903522AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    187000 | PA      | $190231.95    | 0.03%             | 2030-02-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| ADT SEC CORP                                         | ADT Security Corp/The                                                            | CUSIP: 74166NAA2<br>LEI: 5493009JEEDYLVRA0J13 | Long             | DBT              | CORP              | US        |     55000 | PA      | $53264.56     | 0.01%             | 2032-07-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| DERBY BUYER LLC                                      | Derby Buyer LLC 2024 Repriced Term Loan B                                        | CUSIP: 24968CAE3<br>LEI: 2549003XRO7JUBUWQX87 | Long             | LON              | CORP              | US        |   1661028 | PA      | $1662755.03   | 0.27%             | 2030-11-01      | Floating      | 7.18%                 | No            |                  2 | On Loan: No      |
| TALLGRASS NRG PRTNR/FIN                              | Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp                     | CUSIP: 87470LAD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     35000 | PA      | $34821.94     | 0.01%             | 2028-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| USI INC/NY                                           | USI Inc/NY                                                                       | CUSIP: 90346KAB5<br>LEI: 2549006D7UF7072T7I27 | Long             | DBT              | CORP              | US        |    119000 | PA      | $124792.72    | 0.02%             | 2032-01-15      | Fixed         | 7.50%                 | 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        |    200000 | PA      | $199951.76    | 0.03%             | 2027-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                        | TransDigm Inc                                                                    | CUSIP: 893647BY2<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    384000 | PA      | $388317.29    | 0.06%             | 2033-05-31      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP                                            | SUNOCO LP                                                                        | CUSIP: 86765KAD1<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |     66000 | PA      | $67177.59     | 0.01%             | 2033-07-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| LEARFIELD COMMUNICATIONS LLC                         | LEARFIELD COMMUNICATIONS LLC                                                     | CUSIP: 000000000<br>LEI: 549300177GK4LMS8T214 | Long             | EC               | CORP              | US        |      3626 | NS      | $380730.00    | 0.06%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CONSTRUCTION PARTNERS INC                            | Construction Partners Inc Term Loan B                                            | CUSIP: 21043XAH5<br>LEI: 549300MHLFL4E8JLZU44 | Long             | LON              | CORP              | US        |    373180 | PA      | $373997.26    | 0.06%             | 2031-11-03      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                             | CHS/Community Health Systems Inc                                                 | CUSIP: 12543DBM1<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |    202000 | PA      | $182738.12    | 0.03%             | 2030-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                                | Level 3 Financing Inc                                                            | CUSIP: 527298CN1<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    585000 | PA      | $595125.82    | 0.10%             | 2034-03-31      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| STANDARD INDUSTRI INC/NY                             | Standard Industries Inc/NY                                                       | CUSIP: 000000000<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |     73291 | PA      | $85442.75     | 0.01%             | 2026-11-21      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                                       | Bombardier Inc                                                                   | CUSIP: 097751BX8<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |    105000 | PA      | $105265.44    | 0.02%             | 2028-02-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ORBCOMM Inc                                          | Orbcomm Inc Term Loan B                                                          | CUSIP: 68558RAB9<br>LEI: 529900PSC8WVCY267I23 | Long             | LON              | CORP              | US        |    504516 | PA      | $453751.47    | 0.07%             | 2028-09-01      | Floating      | 8.71%                 | No            |                  2 | On Loan: No      |
| AHP Health Partners, Inc.                            | AHP HEALTH PARTNERS INC 2025 TERM LOAN B                                         | CUSIP: 00130MAL8<br>LEI: 549300QMM8MQ6SM5KX05 | Long             | LON              | CORP              | US        |    199345 | PA      | $199656.12    | 0.03%             | 2032-09-20      | Floating      | 6.39%                 | No            |                  2 | On Loan: No      |
| FERTITTA ENTERTAINMENT                               | Fertitta Entertainment LLC / Fertitta Entertainment Finance Co Inc               | CUSIP: 31556TAC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    586000 | PA      | $549921.64    | 0.09%             | 2030-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| JONES DESLAURIERS INSURA                             | Jones Deslauriers Insurance Management Inc                                       | CUSIP: 48020RAE5<br>LEI: 549300JQIWNFU00E5424 | Long             | DBT              | CORP              | CA        |    112000 | PA      | $111412.91    | 0.02%             | 2033-10-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Banco Espirito Santo SA                              | BANCO ESPIRITO SANTO SA                                                          | CUSIP: 000000000<br>LEI: UBGVXZLX4SCS302CM391 | Long             | DBT              | CORP              | PT        |    100000 | PA      | $25829.11     | 0.00%             | 2022-01-21      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| TRANSOCEAN INC                                       | Transocean International Ltd                                                     | CUSIP: 893830BZ1<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | BM        |     63000 | PA      | $61741.93     | 0.01%             | 2031-05-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| CARVANA CO                                           | Carvana Co                                                                       | CUSIP: 146869AM4<br>LEI: 5493003WEAK2PJ5WS063 | Long             | DBT              | CORP              | US        |    630981 | PA      | $714414.36    | 0.12%             | 2031-06-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Star Parent Inc                                      | Star Parent Inc Term Loan B                                                      | CUSIP: 87169DAB1<br>LEI: 254900GRGCJYRMDRWT73 | Long             | LON              | CORP              | US        |    873785 | PA      | $873417.58    | 0.14%             | 2030-09-27      | Floating      | 8.00%                 | No            |                  2 | On Loan: No      |
| CROWN AMERICAS LLC                                   | Crown Americas LLC                                                               | CUSIP: 228180AC9<br>LEI: RPPGGRL1J75WGF2DFO04 | Long             | DBT              | CORP              | US        |    165000 | PA      | $166668.34    | 0.03%             | 2033-06-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| VOYAGER PARENT LLC                                   | Voyager Parent LLC Term Loan B                                                   | CUSIP: 92921HAC9<br>LEI: 2549002DYVI4ACSV4V71 | Long             | LON              | CORP              | US        |   1038000 | PA      | $1039422.06   | 0.17%             | 2032-07-01      | Floating      | 8.75%                 | No            |                  2 | On Loan: No      |
| CIVITAS RESOURCES INC                                | Civitas Resources Inc                                                            | CUSIP: 17888HAA1<br>LEI: IIVIHPH28S64K95M2381 | Long             | DBT              | CORP              | US        |     57000 | PA      | $59083.29     | 0.01%             | 2028-07-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Jones DesLauriers Insurance Management Inc.          | Jones DesLauriers Insurance Management Inc 2025 Term Loan B                      | CUSIP: 000000000<br>LEI: 549300JQIWNFU00E5424 | Long             | LON              | CORP              | CA        |   1106764 | PA      | $1100886.77   | 0.18%             | 2030-03-15      | Floating      | 7.06%                 | No            |                  2 | On Loan: No      |
| VAIL RESORTS INC                                     | Vail Resorts Inc                                                                 | CUSIP: 91879QAQ2<br>LEI: 529900PSZHRNU9HKH870 | Long             | DBT              | CORP              | US        |     65000 | PA      | $65406.25     | 0.01%             | 2030-07-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Invesco Senior Loan ETF                              | Invesco Senior Loan ETF                                                          | CUSIP: 46138G508<br>LEI: 549300SIHU6DQELRNG59 | Long             | EC               | RF                | US        |   1021200 | NS      | $21373716.00  | 3.45%             |  |  |  | No            |                  1 | On Loan: No      |
| COLOSSUS ACQUIRECO LLC                               | Colossus Acquireco LLC Term Loan B                                               | CUSIP: 19682LAB4<br>LEI: 2549009FT92RXWA46910 | Long             | LON              | CORP              | US        |   1591000 | PA      | $1580801.69   | 0.26%             | 2032-07-30      | Floating      | 5.87%                 | No            |                  2 | On Loan: No      |
| BLOCK INC                                            | Block Inc                                                                        | CUSIP: 852234AT0<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |    108000 | PA      | $109423.22    | 0.02%             | 2030-08-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I LP                                  | Hilcorp Energy I LP Term Loan B                                                  | CUSIP: 431319AH5<br>LEI: 549300ITPIHLG0LHEC09 | Long             | LON              | CORP              | US        |    688540 | PA      | $688540.00    | 0.11%             | 2030-02-11      | Floating      | 6.15%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                       | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |         1 | NC      | $2.81         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Ryan LLC                                             | Ryan LLC Term Loan                                                               | CUSIP: 78350LAZ8<br>LEI: 549300TG86D8HZC6TE67 | Long             | LON              | CORP              | US        |     73875 | PA      | $73967.34     | 0.01%             | 2030-11-14      | Floating      | 7.66%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                               | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCQ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     37000 | PA      | $34216.19     | 0.01%             | 2032-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                                 | OneMain Finance Corp                                                             | CUSIP: 682691AJ9<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    160000 | PA      | $162963.36    | 0.03%             | 2032-03-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Modena Buyer LLC                                     | Modena Buyer LLC Term Loan                                                       | CUSIP: 60753DAC8<br>LEI: 254900B0G2IU0VBDOY26 | Long             | LON              | CORP              | US        |    607037 | PA      | $598799.39    | 0.10%             | 2031-07-01      | Floating      | 8.81%                 | No            |                  2 | On Loan: No      |
| GEN DIGITAL INC                                      | Gen Digital Inc 2024 Term Loan B                                                 | CUSIP: 66877AAF5<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | LON              | CORP              | US        |   2845409 | PA      | $2836531.25   | 0.46%             | 2029-09-12      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                                 | OneMain Finance Corp                                                             | CUSIP: 85172FAR0<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |     70000 | PA      | $69206.39     | 0.01%             | 2029-11-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| HOWDEN UK REFINANCE / US                             | Howden UK Refinance PLC / Howden UK Refinance 2 PLC / Howden US Refinance LLC    | CUSIP: 44287GAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |    400000 | PA      | $411828.40    | 0.07%             | 2031-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD                                  | NCL Corp Ltd                                                                     | CUSIP: 62886HBR1<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |    110000 | PA      | $113127.47    | 0.02%             | 2032-02-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| TK ELEVATOR MIDCO GMBH                               | TK Elevator Midco GmbH                                                           | CUSIP: 000000000<br>LEI: 254900K869UN2ZWVB351 | Long             | DBT              | CORP              | DE        |    200000 | PA      | $235073.62    | 0.04%             | 2027-07-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                                    | Iron Mountain Inc                                                                | CUSIP: 46284VAQ4<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              |  | US        |    217000 | PA      | $221343.26    | 0.04%             | 2033-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| ALLIANT HOLD / CO-ISSUER                             | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                   | CUSIP: 01883LAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    275000 | PA      | $270434.18    | 0.04%             | 2027-10-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| LCM INVESTMENTS HOLDINGS                             | LCM Investments Holdings II LLC                                                  | CUSIP: 50190EAA2<br>LEI: 549300P5V78NNQTG4428 | Long             | DBT              | CORP              | US        |     91000 | PA      | $89157.49     | 0.01%             | 2029-05-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| MATCH GROUP HLD II LLC                               | Match Group Holdings II LLC                                                      | CUSIP: 57667JAA0<br>LEI: 5493003RFFE030RC9167 | Long             | DBT              | CORP              | US        |     65000 | PA      | $58911.04     | 0.01%             | 2031-10-01      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| Clydesdale Acquisition Holdings Inc                  | Clydesdale Acquisition Holdings Inc 2025 Term Loan B                             | CUSIP: 18972FAE2<br>LEI: 254900QKSDYFR3K5YD98 | Long             | LON              | CORP              | US        |   1453871 | PA      | $1451239.65   | 0.23%             | 2032-04-01      | Floating      | 7.41%                 | No            |                  2 | On Loan: No      |
| AIMBRIDGE ACQUISITION CO INC                         | Aimbridge Acquisition Co Inc 2025 First Out Term Loan                            | CUSIP: 00900YAG1<br>LEI: 549300SPGKLVE9WYCQ20 | Long             | LON              | CORP              | US        |    203341 | PA      | $202493.12    | 0.03%             | 2030-03-11      | Floating      | 9.76%                 | No            |                  2 | On Loan: No      |
| MH SUB I LLC                                         | MH Sub I LLC 2024 Term Loan B4                                                   | CUSIP: 000000000<br>LEI: 2549005VFKP807SR8N49 | Long             | LON              | CORP              | US        |    526798 | PA      | $483995.88    | 0.08%             | 2031-12-31      | Floating      | 8.41%                 | No            |                  2 | On Loan: No      |
| WAYSTAR TECHNOLOGIES INC                             | WAYSTAR TECHNOLOGIES INC 2025 FUNG Add-On TERM LOAN B                            | CUSIP: 63939WAP8<br>LEI: 549300BIRBTAWWHCSZ09 | Long             | LON              | CORP              | US        |    468225 | PA      | $468027.93    | 0.08%             | 2029-10-22      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| HEALTHEQUITY INC                                     | HealthEquity Inc                                                                 | CUSIP: 42226AAA5<br>LEI: 529900LRJU1RAFQHM467 | Long             | DBT              | CORP              | US        |    496000 | PA      | $480934.10    | 0.08%             | 2029-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| LABL INC                                             | LABL Inc                                                                         | CUSIP: 50168QAE5<br>LEI: 5493004FUZN8R6Y3VB98 | Long             | DBT              | CORP              | US        |    131000 | PA      | $111289.48    | 0.02%             | 2028-11-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Central Parent Inc                                   | Central Parent Inc 2024 Term Loan B                                              | CUSIP: 15477BAE7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2762549 | PA      | $2383444.44   | 0.38%             | 2029-07-06      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| GRAFTECH GLOBAL ENTERPRI                             | GrafTech Global Enterprises Inc                                                  | CUSIP: 38431AAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     35000 | PA      | $29837.50     | 0.00%             | 2029-12-23      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| AVIENT CORP                                          | Avient Corp                                                                      | CUSIP: 05368VAB2<br>LEI: SM8L9RZYIB34LNTWO040 | Long             | DBT              | CORP              | US        |     37000 | PA      | $37574.37     | 0.01%             | 2031-11-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| ATHENAHEALTH GROUP INC                               | AthenaHealth Group Inc                                                           | CUSIP: 60337JAA4<br>LEI: 254900AA3KZN4Q7A5Z33 | Long             | DBT              | CORP              | US        |   1274000 | PA      | $1263576.09   | 0.20%             | 2030-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| QXO INC                                              | QXO Inc Term Loan B                                                              | CUSIP: 07368RAJ0<br>LEI: 549300HDXQWWCBOYXP31 | Long             | LON              | CORP              | US        |    419711 | PA      | $422896.72    | 0.07%             | 2032-04-30      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| Telenet Financing USD LLC                            | Telenet Financing USD LLC 2020 USD Term Loan AR                                  | CUSIP: 000000000<br>LEI: 213800BMPOX34U6DWN81 | Long             | LON              | CORP              | US        |    325000 | PA      | $322088.00    | 0.05%             | 2028-04-30      | Floating      | 6.28%                 | No            |                  2 | On Loan: No      |
| KKR APPLE BIDCO LLC                                  | KKR Apple Bidco LLC 2025 Term Loan                                               | CUSIP: 48254EAG6<br>LEI: 2549001SCJD3WEYJFM53 | Long             | LON              | CORP              | US        |   2839064 | PA      | $2838041.68   | 0.46%             | 2031-09-23      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| Brand Industrial Services Inc                        | Brand Industrial Services Inc 2024 Term Loan B                                   | CUSIP: 10524MAS6<br>LEI: 549300B658W2BPDQMW42 | Long             | LON              | CORP              | US        |   2501016 | PA      | $2260918.45   | 0.37%             | 2030-08-01      | Floating      | 8.80%                 | No            |                  2 | On Loan: No      |
| CP ATLAS BUYER INC                                   | CP Atlas Buyer Inc                                                               | CUSIP: 12597YAC3<br>LEI: 2549006ZZ07G0NDDCR36 | Long             | DBT              | CORP              | US        |     22000 | PA      | $23040.60     | 0.00%             | 2030-07-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| SABRE GLBL INC                                       | Sabre GLBL Inc 2024 Term Loan B2                                                 | CUSIP: 78571YBL3<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | LON              | CORP              | US        |    234525 | PA      | $220453.27    | 0.04%             | 2029-11-15      | Floating      | 10.26%                | No            |                  3 | On Loan: No      |
| Proampac PG Borrower LLC                             | Proampac PG Borrower LLC 2024 Term Loan                                          | CUSIP: 74274NAL7<br>LEI: 549300ZI6LTXYFEY1578 | Long             | LON              | CORP              | US        |    178547 | PA      | $178948.57    | 0.03%             | 2028-09-15      | Floating      | 8.32%                 | No            |                  2 | On Loan: No      |
| SK INVICTUS INTERMEDIATE                             | SK Invictus Intermediate II Sarl                                                 | CUSIP: 29977LAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    185000 | PA      | $181070.15    | 0.03%             | 2029-10-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Momentive Performance Materials Inc                  | Momentive Performance Materials Inc 2023 Term Loan                               | CUSIP: 60877JAG7<br>LEI: H2OFQI2FJX0T8IHKL414 | Long             | LON              | CORP              | US        |   1274635 | PA      | $1278458.72   | 0.21%             | 2028-03-29      | Floating      | 8.16%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE SA                                     | Altice France SA                                                                 | CUSIP: 02156LAF8<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |    400000 | PA      | $341600.00    | 0.06%             | 2029-07-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Grant Thornton Advisors LLC                          | Grant Thornton Advisors LLC 2025 Term Loan B                                     | CUSIP: 38821UAD2<br>LEI: 254900XS1SHU0YY3WF58 | Long             | LON              | CORP              | US        |    565914 | PA      | $562060.22    | 0.09%             | 2031-06-02      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| BOOST NEWCO BORROWER LLC                             | Boost Newco Borrower LLC                                                         | CUSIP: 36268NAA8<br>LEI: 254900S8RE1OL7TTCU64 | Long             | DBT              | CORP              | US        |    400000 | PA      | $424357.60    | 0.07%             | 2031-01-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| ECL ENTERTAINMENT LLC                                | ECL Entertainment LLC 2025 Term Loan B                                           | CUSIP: 26826TAM5<br>LEI: 254900UPSGHOBB360Z85 | Long             | LON              | CORP              | US        |    941891 | PA      | $940242.65    | 0.15%             | 2030-08-30      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| FRONERI LUX FINCO SARL                               | FRONERI LUX FINCO SARL 2025 USD TERM LOAN                                        | CUSIP: 000000000<br>LEI: 9845005YBZ75E5AA3B94 | Long             | LON              | CORP              | US        |    323000 | PA      | $322140.82    | 0.05%             | 2032-07-16      | Floating      | 6.63%                 | No            |                  2 | On Loan: No      |
| MEADE PIPELINE CO LLC                                | MEADE PIPELINE CO LLC TERM LOAN B                                                | CUSIP: 000000000<br>LEI: 254900UZE9CEDHUYSZ47 | Long             | LON              | CORP              | US        |    267000 | PA      | $266666.25    | 0.04%             | 2032-09-22      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| Gryphon Acquire Newco, LLC                           | GRYPHON ACQUIRE NEWCO LLC TERM LOAN B                                            | CUSIP: 40054QAB9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    727000 | PA      | $728592.13    | 0.12%             | 2032-09-13      | Floating      | 6.88%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES                               | PNC Financial Services Group Inc/The                                             | CUSIP: 693475BP9<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |     30000 | PA      | $30783.03     | 0.00%             | 2030-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| PEBBLEBROOK HOTEL/FINANC                             | Pebblebrook Hotel LP / PEB Finance Corp                                          | CUSIP: 70510LAA7<br>LEI: N/A                  | Long             | DBT              |  | US        |     29000 | PA      | $29432.36     | 0.00%             | 2029-10-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| LIVE NATION ENTERTAINMEN                             | Live Nation Entertainment Inc                                                    | CUSIP: 538034AR0<br>LEI: 5493007B9BM9ZXJINO78 | Long             | DBT              | CORP              | US        |     58000 | PA      | $57616.23     | 0.01%             | 2027-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| GGAM FINANCE LTD                                     | GGAM Finance Ltd                                                                 | CUSIP: 36170JAE6<br>LEI: 254900X2QXEN0FVXRF65 | Long             | DBT              | CORP              | KY        |    209000 | PA      | $211873.75    | 0.03%             | 2030-03-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| PAINT INTERMEDIATE III LLC                           | Paint Intermediate III LLC 2024 Term Loan B                                      | CUSIP: 69575EAL3<br>LEI: 549300C2JJM7BNZTR054 | Long             | LON              | CORP              | US        |    504735 | PA      | $503473.16    | 0.08%             | 2031-10-09      | Floating      | 7.24%                 | No            |                  2 | On Loan: No      |
| Alliant Holdings Intermediate, LLC                   | Alliant Holdings Intermediate LLC 2025 Term Loan B                               | CUSIP: 01881UAN5<br>LEI: 5493006Q26653NF8SI73 | Long             | LON              | CORP              | US        |   6767278 | PA      | $6747652.83   | 1.09%             | 2031-09-19      | Floating      | 6.67%                 | No            |                  2 | On Loan: No      |
| WR GRACE HOLDING LLC                                 | WR Grace Holdings LLC                                                            | CUSIP: 92943GAF8<br>LEI: 549300WNOVFRGYOAEB12 | Long             | DBT              | CORP              | US        |    169000 | PA      | $167103.82    | 0.03%             | 2032-08-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| WEATHERFORD INTERNATIONA                             | Weatherford International Ltd                                                    | CUSIP: 947075AU1<br>LEI: 549300A2JKMG5PGOGF82 | Long             | DBT              | CORP              | BM        |    137000 | PA      | $140048.39    | 0.02%             | 2030-04-30      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| Banco Espirito Santo SA                              | BANCO ESPIRITO SANTO SA SR UNSECURED REGS 01/18 4.75                             | CUSIP: 000000000<br>LEI: 635400JV7IJL16OWIT96 | Long             | DBT              | CORP              | LU        |    200000 | PA      | $51658.23     | 0.01%             | 2022-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ASURION LLC                                          | Asurion LLC 2025 Term Loan B13                                                   | CUSIP: 04649VBE9<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |   1690660 | PA      | $1678690.46   | 0.27%             | 2030-09-19      | Floating      | 8.41%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                         | Barclays PLC                                                                     | CUSIP: 06738EBT1<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $191866.30    | 0.03%             | 2028-03-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| FTAI AVIATION INVESTORS                              | FTAI Aviation Investors LLC                                                      | CUSIP: 34960PAE1<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |    161000 | PA      | $171086.17    | 0.03%             | 2030-12-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| TURQUOISE TOPCO LTD                                  | TURQUOISE TOPCO LTD TERM LOAN B                                                  | CUSIP: 000000000<br>LEI: 254900RI25V4FBT02P38 | Long             | LON              | CORP              | US        |    734000 | PA      | $734462.42    | 0.12%             | 2032-07-31      | Floating      | 7.38%                 | No            |                  2 | On Loan: No      |
| STONEPEAK NILE PARENT                                | Stonepeak Nile Parent LLC                                                        | CUSIP: 861932AA9<br>LEI: 254900TJV3VAFZD0GU41 | Long             | DBT              | CORP              | US        |     30000 | PA      | $31590.96     | 0.01%             | 2032-03-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| MANITOWOC COMPANY INC                                | Manitowoc Co Inc/The                                                             | CUSIP: 563571AN8<br>LEI: 2RTSLGQ89VMY18RHX631 | Long             | DBT              | CORP              | US        |     32000 | PA      | $33574.80     | 0.01%             | 2031-10-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| INEOS QUATTRO HOLDINGS UK LTD                        | INEOS Quattro Holdings UK Ltd 2024 USD Term Loan B                               | CUSIP: 000000000<br>LEI: 213800HKSMBSJQ32CA45 | Long             | LON              | CORP              | US        |    523370 | PA      | $448355.38    | 0.07%             | 2031-10-07      | Floating      | 8.41%                 | No            |                  2 | On Loan: No      |
| QNITY ELECTRONICS INC                                | Qnity Electronics Inc                                                            | CUSIP: 74743LAA8<br>LEI: 254900RSUG4J9TFFZX53 | Long             | DBT              | CORP              | US        |     88000 | PA      | $88671.16     | 0.01%             | 2032-08-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO                             | Clear Channel Outdoor Holdings Inc                                               | CUSIP: 18453HAH9<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |    320000 | PA      | $334582.08    | 0.05%             | 2033-03-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| ARCOSA INC                                           | Arcosa Inc                                                                       | CUSIP: 039653AC4<br>LEI: 549300WFHLTCZV7D6V29 | Long             | DBT              | CORP              | US        |    125000 | PA      | $130561.63    | 0.02%             | 2032-08-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Quikrete Holdings Inc                                | Quikrete Holdings Inc 2024 Term Loan B1                                          | CUSIP: 74839XAK5<br>LEI: 5493007KIN86DIZWZT22 | Long             | LON              | CORP              | US        |   1009473 | PA      | $1009735.66   | 0.16%             | 2029-03-19      | Floating      | 6.41%                 | No            |                  2 | On Loan: No      |
| Columbus McKinnon Corporation                        | Columbus McKinnon Corporation 2024 Term Loan                                     | CUSIP: 19933MAQ6<br>LEI: 549300W3HQB0HO1F3G69 | Long             | LON              | CORP              | US        |    267170 | PA      | $267169.52    | 0.04%             | 2028-05-14      | Floating      | 6.50%                 | No            |                  3 | On Loan: No      |
| NATIONSTAR MTG HLD INC                               | Nationstar Mortgage Holdings Inc                                                 | CUSIP: 63861CAD1<br>LEI: 549300DQF6YN0E43PM71 | Long             | DBT              | CORP              | US        |     21000 | PA      | $21184.80     | 0.00%             | 2030-12-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| VALLOUREC SACA                                       | Vallourec SACA                                                                   | CUSIP: 92023RAA8<br>LEI: 969500P2Q1B47H4MCJ34 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $213093.00    | 0.03%             | 2032-04-15      | Fixed         | 7.50%                 | 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        |   3401610 | PA      | $3402562.43   | 0.55%             | 2031-02-24      | Floating      | 6.25%                 | No            |                  2 | On Loan: No      |
| SERVICE CORP INTL                                    | Service Corp International/US                                                    | CUSIP: 817565CH5<br>LEI: 549300RKVM2ME20JHZ15 | Long             | DBT              | CORP              | US        |    420000 | PA      | $425492.76    | 0.07%             | 2032-10-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                                         | Enbridge Inc                                                                     | CUSIP: 29250NCG8<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |     54000 | PA      | $57131.46     | 0.01%             | 2055-03-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| CLOVER HOLDINGS 2 LLC                                | Clover Holdings 2 LLC Fixed Term Loan B                                          | CUSIP: 18914DAC2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1667820 | PA      | $1677209.83   | 0.27%             | 2031-12-09      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Calpine Construction Finance Company LP              | Calpine Construction Finance Company LP 2023 Refinancing Term Loan B             | CUSIP: 13134NAH4<br>LEI: V0Q3DOB0FIB2XI1KWU77 | Long             | LON              | CORP              | US        |   1646447 | PA      | $1646249.47   | 0.27%             | 2030-07-31      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                               | Venture Global LNG Inc                                                           | CUSIP: 92332YAB7<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |    233000 | PA      | $244643.08    | 0.04%             | 2031-06-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| H.B. Fuller Company                                  | HB Fuller Company 2025 Term Loan B                                               | CUSIP: 40409VAW4<br>LEI: JSMX3Z5FOYM8V0Q52357 | Long             | LON              | CORP              | US        |    259082 | PA      | $259893.04    | 0.04%             | 2030-02-15      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| NOVELIS CORP                                         | Novelis Corp                                                                     | CUSIP: 670001AE6<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |    195000 | PA      | $187914.68    | 0.03%             | 2030-01-30      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Covia Holdings Corporation                           | Covia Holdings Corporation 2025 Repriced Term Loan B                             | CUSIP: 22305CAF6<br>LEI: 213800IE4YGTGVTQ1806 | Long             | LON              | CORP              | US        |    299250 | PA      | $300372.19    | 0.05%             | 2032-02-26      | Floating      | 6.95%                 | No            |                  2 | On Loan: No      |
| CLEARWATER ANALYTICS LLC                             | Clearwater Analytics LLC 2025 Term Loan B                                        | CUSIP: 18512EAF9<br>LEI: 894500N8DN2JO5ZDRQ11 | Long             | LON              | CORP              | US        |    961000 | PA      | $961000.00    | 0.16%             | 2032-04-21      | Floating      | 6.46%                 | No            |                  2 | On Loan: No      |
| American Airlines Inc                                | American Airlines Inc 2023 1st Lien Term Loan                                    | CUSIP: 02376CBM6<br>LEI: IWUQB36BXD6OWD6X4T14 | Long             | LON              | CORP              | US        |   1262370 | PA      | $1259605.41   | 0.20%             | 2029-06-04      | Floating      | 6.26%                 | No            |                  2 | On Loan: No      |
| WHITE CAP BUYER LLC                                  | White Cap Buyer LLC                                                              | CUSIP: 96350RAA2<br>LEI: 254900L2N0T6GULCL366 | Long             | DBT              | CORP              | US        |    737000 | PA      | $734810.74    | 0.12%             | 2028-10-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Venture Holdings                                     | VENTURE HLDGS TR                                                                 | CUSIP: 92326YAH2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5150000 | PA      | $0.52         | 0.00%             | 2049-07-01      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO                             | Clear Channel Outdoor Holdings Inc                                               | CUSIP: 18453HAC0<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |    188000 | PA      | $187658.14    | 0.03%             | 2028-04-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Advisor Group Inc                                    | Advisor Group Inc 2025 Term Loan                                                 | CUSIP: 68773JAG5<br>LEI: 549300XL60BDV6UW5C86 | Long             | LON              | CORP              | US        |   1837000 | PA      | $1835640.62   | 0.30%             | 2032-07-30      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| PAI Holdco Inc                                       | PAI Holdco Inc 2020 Term Loan B                                                  | CUSIP: 69315JAG8<br>LEI: 2549001NJ55NUV372F56 | Long             | LON              | CORP              | US        |    363022 | PA      | $302397.41    | 0.05%             | 2027-10-28      | Floating      | 8.32%                 | No            |                  2 | On Loan: No      |
| HILTON DOMESTIC OPERATIN                             | Hilton Domestic Operating Co Inc                                                 | CUSIP: 432833AS0<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |     11000 | PA      | $11146.85     | 0.00%             | 2033-09-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| RYAN SPECIALTY GROUP LLC                             | Ryan Specialty Group LLC 2024 USD Term Loan B                                    | CUSIP: 78350UAJ4<br>LEI: 549300K52N7QBO3PYY45 | Long             | LON              | CORP              | US        |   1869650 | PA      | $1869070.10   | 0.30%             | 2031-09-15      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| JANE STREET GROUP LLC                                | Jane Street Group LLC 2024 Term Loan B1                                          | CUSIP: 47077DAM2<br>LEI: 5493002N1IVX6KHGYO08 | Long             | LON              | CORP              | US        |   1967304 | PA      | $1950916.84   | 0.32%             | 2031-12-15      | Floating      | 6.20%                 | No            |                  2 | On Loan: No      |
| APOLLO DEBT SOLUTIONS BD                             | Apollo Debt Solutions BDC                                                        | CUSIP: 03770DAD5<br>LEI: 549300UMUGX092P8DW87 | Long             | DBT              | CORP              | US        |     35000 | PA      | $37093.40     | 0.01%             | 2031-07-29      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| CSC Holdings LLC                                     | CSC Holdings LLC 2022 Term Loan B6                                               | CUSIP: 64072UAM4<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | LON              | CORP              | US        |    372990 | PA      | $370352.57    | 0.06%             | 2028-01-18      | Floating      | 8.65%                 | No            |                  2 | On Loan: No      |
| ICAHN ENTERPRISES/FIN                                | Icahn Enterprises LP / Icahn Enterprises Finance Corp                            | CUSIP: 451102BZ9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    170000 | PA      | $167100.86    | 0.03%             | 2027-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                             | Hilcorp Energy I LP / Hilcorp Finance Co                                         | CUSIP: 431318AY0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      5000 | PA      | $4913.74      | 0.00%             | 2030-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                               | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    376000 | PA      | $373492.68    | 0.06%             | 2029-06-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| CLEARWAY ENERGY OP LLC                               | Clearway Energy Operating LLC                                                    | CUSIP: 18539UAE5<br>LEI: 549300Z3NFMM54NWBB87 | Long             | DBT              | CORP              | US        |    202000 | PA      | $181323.02    | 0.03%             | 2032-01-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                                | Level 3 Financing Inc                                                            | CUSIP: 527298CF8<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |     33000 | PA      | $28812.09     | 0.00%             | 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        |    688000 | PA      | $694205.97    | 0.11%             | 2029-03-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| INGEVITY CORP                                        | Ingevity Corp                                                                    | CUSIP: 45688CAB3<br>LEI: 5493009UTFC4B5IMGF87 | Long             | DBT              | CORP              | US        |     23000 | PA      | $22099.06     | 0.00%             | 2028-11-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| STARWOOD PROPERTY TRUST                              | Starwood Property Trust Inc                                                      | CUSIP: 85571BBD6<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              |  | US        |     41000 | PA      | $42408.08     | 0.01%             | 2030-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| SABRE GLBL INC                                       | Sabre GLBL Inc 2024 Term Loan B1                                                 | CUSIP: 78571YBK5<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | LON              | CORP              | US        |    459808 | PA      | $432219.60    | 0.07%             | 2029-11-15      | Floating      | 10.26%                | No            |                  3 | On Loan: No      |
| Light and Wonder International, Inc.                 | Light and Wonder International Inc 2024 Term Loan B2                             | CUSIP: 80875AAW1<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | LON              | CORP              | US        |    977823 | PA      | $978438.72    | 0.16%             | 2029-04-14      | Floating      | 6.39%                 | No            |                  2 | On Loan: No      |
| Madison IAQ LLC                                      | Madison IAQ LLC Term Loan                                                        | CUSIP: 55759VAB4<br>LEI: 549300IXDNBXNHUPBU73 | Long             | LON              | CORP              | US        |   3178808 | PA      | $3179348.23   | 0.51%             | 2028-06-21      | Floating      | 6.70%                 | No            |                  2 | On Loan: No      |
| RealPage Inc                                         | RealPage Inc 1st Lien Term Loan                                                  | CUSIP: 75605VAD4<br>LEI: 5493001RSFZX4122A604 | Long             | LON              | CORP              | US        |   1641015 | PA      | $1636486.00   | 0.26%             | 2028-04-24      | Floating      | 7.26%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                        | Carnival Corp                                                                    | CUSIP: 143658BZ4<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |     66000 | PA      | $67633.04     | 0.01%             | 2031-06-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| BUILDERS FIRSTSOURCE INC                             | Builders FirstSource Inc                                                         | CUSIP: 12008RAT4<br>LEI: 549300W0SKP6L3H7DP63 | Long             | DBT              | CORP              | US        |     52000 | PA      | $54294.89     | 0.01%             | 2035-05-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| HARVEST MIDSTREAM I LP                               | Harvest Midstream I LP                                                           | CUSIP: 417558AB9<br>LEI: 549300DW5M17KJOXCY66 | Long             | DBT              | CORP              | US        |     25000 | PA      | $25537.63     | 0.00%             | 2032-05-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Electron BidCo Inc                                   | Electron BidCo Inc 2021 Term Loan                                                | CUSIP: 28542CAC3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2013435 | PA      | $2016877.59   | 0.33%             | 2028-11-01      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| Go Daddy Operating Company LLC                       | Go Daddy Operating Company LLC 2024 Term Loan B8                                 | CUSIP: 38017BAX4<br>LEI: 5493005GJOH8HLL11157 | Long             | LON              | CORP              | US        |   1239257 | PA      | $1237435.04   | 0.20%             | 2029-11-09      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| CMG MEDIA CORPORATION                                | CMG Media Corp                                                                   | CUSIP: 125773AA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     47000 | PA      | $43165.74     | 0.01%             | 2029-06-18      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| CLYDESDALE ACQUISITION                               | Clydesdale Acquisition Holdings Inc                                              | CUSIP: 18972EAA3<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |     49000 | PA      | $49558.16     | 0.01%             | 2029-04-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                                 | OneMain Finance Corp                                                             | CUSIP: 682691AA8<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |     95000 | PA      | $88307.83     | 0.01%             | 2030-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC                                    | Herc Holdings Inc                                                                | CUSIP: 42704LAF1<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |    120000 | PA      | $124647.12    | 0.02%             | 2030-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| WYNN RESORTS FINANCE LLC                             | Wynn Resorts Finance LLC / Wynn Resorts Capital Corp                             | CUSIP: 983133AC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    313000 | PA      | $336896.21    | 0.05%             | 2031-02-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| iShares Broad USD High Yield Corporate Bond ETF      | iShares Broad USD High Yield Corporate Bond ETF                                  | CUSIP: 46435U853<br>LEI: 549300X7H67ZLUE3IZ46 | Long             | EC               | RF                | US        |    285000 | NS      | $10767300.00  | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| ARDONAGH MIDCO 3 PLC                                 | Ardonagh Midco 3 PLC 2024 USD Term Loan B                                        | CUSIP: 000000000<br>LEI: 254900YP2E642AGM4G32 | Long             | LON              | CORP              | AU        |   2457244 | PA      | $2442917.79   | 0.39%             | 2031-02-15      | Floating      | 6.95%                 | No            |                  2 | On Loan: No      |
| USA COM PART/USA COM FIN                             | USA Compression Partners LP / USA Compression Finance Corp                       | CUSIP: 91740PAH1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    177000 | PA      | $177677.06    | 0.03%             | 2033-10-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BUCKEYE PARTNERS LP                                  | Buckeye Partners LP                                                              | CUSIP: 118230AW1<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |     23000 | PA      | $23888.93     | 0.00%             | 2030-02-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| FILTRATION GROUP CORPORATION                         | Filtration Group Corporation 2025 USD Term Loan                                  | CUSIP: 31732FAX4<br>LEI: 549300ZA0D9WN5ECE978 | Long             | LON              | CORP              | US        |   3054000 | PA      | $3065452.86   | 0.50%             | 2028-10-21      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| TEAM HEALTH HOLDINGS INC                             | Team Health Holdings Inc 2025 Term Loan B                                        | CUSIP: 87817JAH1<br>LEI: 549300PVTQ4UDTTMQT11 | Long             | LON              | CORP              | US        |    472815 | PA      | $471533.67    | 0.08%             | 2028-06-30      | Floating      | 8.80%                 | 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        |   5144911 | PA      | $5107404.26   | 0.82%             | 2032-01-30      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| CROCS INC                                            | Crocs Inc                                                                        | CUSIP: 227046AB5<br>LEI: 549300B0J6YCXD63OG72 | Long             | DBT              | CORP              | US        |     13000 | PA      | $11909.92     | 0.00%             | 2031-08-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| PIKE CORP                                            | Pike Corp                                                                        | CUSIP: 721283AB5<br>LEI: 549300P4EKEP6HK0NC58 | Long             | DBT              | CORP              | US        |     23000 | PA      | $24673.18     | 0.00%             | 2031-01-31      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| EPICOR SOFTWARE CORPORATION                          | Epicor Software Corporation 2024 Term Loan F                                     | CUSIP: 29426NAZ7<br>LEI: JGNXVGGGXR4O1L5I7S73 | Long             | LON              | CORP              | US        |   2614979 | PA      | $2616992.62   | 0.42%             | 2031-05-30      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| EMRLD BORROWER LP                                    | EMRLD Borrower LP 2024 Term Loan B                                               | CUSIP: 26872NAD1<br>LEI: 5493000GJYE7GAQCUC61 | Long             | LON              | CORP              | US        |   1793284 | PA      | $1784658.38   | 0.29%             | 2031-08-04      | Floating      | 6.12%                 | No            |                  2 | On Loan: No      |
| METHANEX US OPERATIONS                               | Methanex US Operations Inc                                                       | CUSIP: 59151LAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     51000 | PA      | $51890.87     | 0.01%             | 2032-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| CUBE INDUSTRIALS BUYER INC                           | Cube Industrials Buyer Inc 2024 Term Loan                                        | CUSIP: 22971EAB4<br>LEI: 25490058FG1NWDNJ5K52 | Long             | LON              | CORP              | US        |    193030 | PA      | $193512.58    | 0.03%             | 2031-10-17      | Floating      | 7.58%                 | No            |                  2 | On Loan: No      |
| SABRE GLBL INC                                       | Sabre GLBL Inc                                                                   | CUSIP: 78573NAJ1<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | DBT              | CORP              | US        |     25000 | PA      | $25358.01     | 0.00%             | 2027-06-01      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| MAGENTA SECURITY HOLDINGS LLC                        | Magenta Security Holdings LLC 2024 Third Out Term Loan                           | CUSIP: 55909UAG4<br>LEI: 254900F51KU7HIRXTS68 | Long             | LON              | CORP              | US        |    975942 | PA      | $194378.40    | 0.03%             | 2028-07-27      | Floating      | 10.82%                | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                                       | Bombardier Inc                                                                   | CUSIP: 097751CA7<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |     44000 | PA      | $47449.25     | 0.01%             | 2030-11-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| MATCH GROUP HLD II LLC                               | Match Group Holdings II LLC                                                      | CUSIP: 57667JAC6<br>LEI: 5493003RFFE030RC9167 | Long             | DBT              | CORP              | US        |    108000 | PA      | $108948.78    | 0.02%             | 2033-09-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| SunPower Corp                                        | SunPower Corp                                                                    | CUSIP: 867652406<br>LEI: 549300TXO070764WUH65 | Long             | EC               | CORP              | US        |      1707 | NS      | $0.02         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| CNT PRNT/CDK GLO II/FIN                              | Central Parent LLC / CDK Global II LLC / CDK Financing Co Inc                    | CUSIP: 154915AA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    219000 | PA      | $192995.09    | 0.03%             | 2029-06-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| RIVERS ENTERPRISE                                    | Rivers Enterprise Borrower LLC / Rivers Enterprise Finance Corp                  | CUSIP: 76883NAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     43000 | PA      | $43573.36     | 0.01%             | 2033-02-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| CHOBANI LLC/FINANCE CORP                             | Chobani LLC / Chobani Finance Corp Inc                                           | CUSIP: 17027NAB8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    258000 | PA      | $255118.58    | 0.04%             | 2028-11-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| RYAN SPECIALTY                                       | Ryan Specialty LLC                                                               | CUSIP: 78351GAA3<br>LEI: 549300K52N7QBO3PYY45 | Long             | DBT              | CORP              | US        |    265000 | PA      | $267964.29    | 0.04%             | 2032-08-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| INEOS US Finance LLC                                 | Ineos US Finance LLC 2023 USD Term Loan B                                        | CUSIP: 000000000<br>LEI: 5493008MHJ4R367SNK31 | Long             | LON              | CORP              | US        |    604284 | PA      | $545365.97    | 0.09%             | 2030-02-18      | Floating      | 7.41%                 | 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        |      8000 | PA      | $7797.03      | 0.00%             | 2028-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CATURUS ENERGY LLC                                   | Caturus Energy LLC                                                               | CUSIP: 49446BAA2<br>LEI: 254900LM244SIFQ1QY31 | Long             | DBT              | CORP              | US        |    176000 | PA      | $183245.66    | 0.03%             | 2030-02-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| CHART INDUSTRIES INC                                 | Chart Industries Inc                                                             | CUSIP: 16115QAF7<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | DBT              | CORP              | US        |    213000 | PA      | $221676.56    | 0.04%             | 2030-01-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP/US FIN                             | Clarios Global LP / Clarios US Finance Co                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    100000 | PA      | $119617.26    | 0.02%             | 2031-06-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                              | Frontier Communications Holdings LLC                                             | CUSIP: 35908MAA8<br>LEI: 549300ZCZ76HYCS0H445 | Long             | DBT              | CORP              | US        |     46336 | PA      | $46823.58     | 0.01%             | 2029-11-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CIVITAS RESOURCES INC                                | Civitas Resources Inc                                                            | CUSIP: 17888HAB9<br>LEI: IIVIHPH28S64K95M2381 | Long             | DBT              | CORP              | US        |     48000 | PA      | $49176.53     | 0.01%             | 2031-07-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| MAJORDRIVE HOLDINGS IV L                             | MajorDrive Holdings IV LLC                                                       | CUSIP: 56085RAA8<br>LEI: 25490044R1FR5N8FIT62 | Long             | DBT              | CORP              | US        |     78000 | PA      | $63918.93     | 0.01%             | 2029-06-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| STAPLES INC                                          | Staples Inc                                                                      | CUSIP: 855030AQ5<br>LEI: XQM2JINI1UL7642TU573 | Long             | DBT              | CORP              | US        |     45000 | PA      | $44494.63     | 0.01%             | 2029-09-01      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| ECHOSTAR CORP                                        | EchoStar Corp                                                                    | CUSIP: 278768AA4<br>LEI: 549300EE20907QZ9GT38 | Long             | DBT              | CORP              | US        |    698305 | PA      | $719917.54    | 0.12%             | 2030-11-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| LIFEPOINT HEALTH INC                                 | LifePoint Health Inc 2024 1st Lien Term Loan B                                   | CUSIP: 75915TAK8<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | LON              | CORP              | US        |   1060299 | PA      | $1057542.37   | 0.17%             | 2031-05-19      | Floating      | 8.07%                 | No            |                  2 | On Loan: No      |
| SURGERY CENTER HOLDINGS                              | Surgery Center Holdings Inc                                                      | CUSIP: 86881WAF9<br>LEI: 54930054EVI5HWPPW113 | Long             | DBT              | CORP              | US        |    292000 | PA      | $299955.83    | 0.05%             | 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        |     86000 | PA      | $89300.85     | 0.01%             | 2032-07-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| WR GRACE HOLDING LLC                                 | WR Grace Holdings LLC                                                            | CUSIP: 92943GAD3<br>LEI: 549300WNOVFRGYOAEB12 | Long             | DBT              | CORP              | US        |     49000 | PA      | $48696.12     | 0.01%             | 2027-06-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-29

**Name of Applicant:** BlackRock Debt Strategies Fund, Inc.

**Signature:** Chuck Pulsfort

**Name of Signer:** Chuck Pulsfort

**Title:** Assistant Treasurer