# EDGAR Filing Document

**Accession Number:** 0000828803
**File Stem:** 0001752724-25-158318
**Filing Date:** 2025-6
**Character Count:** 110225
**Document Hash:** 3d42fcac949bfb88480d8dbad418afe2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-158318.hdr.sgml**: 20250626

**ACCESSION NUMBER**: 0001752724-25-158318

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250626

**DATE AS OF CHANGE**: 20250626

**PERIOD START**: 20251031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Saba Capital Income & Opportunities Fund II
- **CENTRAL INDEX KEY:** 0000828803

**ORGANIZATION NAME:**
- **EIN:** 222864496
- **STATE OF INCORPORATION:** FL
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05459
- **FILM NUMBER:** 251077652

**BUSINESS ADDRESS:**
- **STREET 1:** 300 S.E. 2ND STREET
- **CITY:** FORT LAUDERDALE
- **STATE:** FL
- **ZIP:** 33301-1923
- **BUSINESS PHONE:** 9545277500

**MAIL ADDRESS:**
- **STREET 1:** 300 S.E. 2ND STREET
- **CITY:** FORT LAUDERDALE
- **STATE:** FL
- **ZIP:** 33301-1923

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** TEMPLETON GLOBAL INCOME FUND
- **DATE OF NAME CHANGE:** 20041029

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** TEMPLETON GLOBAL INCOME FUND INC
- **DATE OF NAME CHANGE:** 19920703

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Saba Capital Income & Opportunities Fund II

- **b. Investment Company Act file number:** 811-05459

- **c. CIK number of Registrant:** 0000828803

- **d. LEI of Registrant:** QU1AAXOSV5K4OVMXJP19

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

  - **Street Address 1:** 405 Lexington Avenue 58th Floor

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10174

  - **Telephone number:** 212-542-4644

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

- **a. Name of Series:** Saba Capital Income & Opportunities Fund II

- **c. LEI of Series:** QU1AAXOSV5K4OVMXJP19

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

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

- **b. Date as of which information is reported:** 2025-04-30

**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:** $843036160.71

**Total Liabilities:** $578789185.36

**Net Assets:** $264246975.35

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 23.82588000 | **1-Year:** 0.00000000 | **5-Year:** 102.69801930 | **10-Year:** 467.29159543 | **30-Year:** 94458.99609375

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

- **3-Month:** 48.57248690 | **1-Year:** -3189.10380042 | **5-Year:** -40034.93822647 | **10-Year:** 519.53524363 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | -2.05%               | -3.76%               | 1.12%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1527916.58              | $-8760729.98                               |
| Month 2  | $406717.03               | $-6614606.99                               |
| Month 3  | $-402765.15              | $76494.23                                  |

**Designated Index Information**

- **Index Name:** Markit iBoxx USD Liquid High Yield Index

- **Index Identifier:** IBOXHY

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Vertical Aerospace Ltd                               | Vertical Aerospace, Ltd.                               | CUSIP: G9471C131<br>LEI: 9845002F3CF4E56DA491 | N/A              | DE               | CORP              | GB        |    249443 | NC      | $187082.25    | 0.07%             |  |  |  | No            | 3                  | On Loan: No      |
| Evolution Ab                                         | Evolution AB                                           | CUSIP: N/A<br>LEI: 549300SUH6ZR1RF6TA88       | Long             | EC               | CORP              | SE        |     16104 | NS      | $1123306.27   | 0.43%             |  |  |  | Yes           | 1                  | On Loan: No      |
| J.Crew                                               | J.Crew 9/24 TLB 1L                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   4394428 | PA      | $4183868.98   | 1.58%             | 2031-09-17      | Floating      | 10.59%                | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                              | Recv Jemi Ln Trs:b5zzy91                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $66228.81     | 0.03%             |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                              | Recv Sdp Ln Trs:0791887                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $4689.19      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Herald Investment Trust Plc                          | Herald Investment Trust PLC                            | CUSIP: G4410F105<br>LEI: 213800U7G1ROCTJYRR70 | Long             | EC               | RF                | GB        |     36669 | NS      | $977370.86    | 0.37%             |  |  |  | No            | 1                  | On Loan: No      |
| Paysafe Ltd                                          | Paysafe, Ltd.                                          | CUSIP: G6964L206<br>LEI: 2138003K6PVDCI5TBN11 | Short            | EC               | CORP              | BM        |     -6202 | NS      | $-94456.46    | -0.04%            |  |  |  | No            | 1                  | On Loan: No      |
| New Holland Special Opportunities Aggregator LP      | New Holland Special Opportunities Aggregator LP        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      4809 | NS      | $4817420.29   | 1.82%             |  |  |  | No            | N/A                | On Loan: No      |
| N/A                                                  | TD.TR BROKER SWEEP                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | RF                | US        |  11198927 | NS      | $11198927.35  | 4.24%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                              | Recv Hsl Ln Trs:0906506                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $1809783.68   | 0.68%             |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                              | Baillie Gifford UK Growth Trust PLC                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $55720.45     | 0.02%             |  |  |  | No            | 2                  | On Loan: No      |
| Blackrock Esg Capital Allocation Term Trust          | BlackRock ESG Capital Allocation Term Trust            | CUSIP: 09262F100<br>LEI: 549300EWOI5G0PSVIX17 | Long             | EC               | RF                | US        |    121074 | NS      | $1859696.64   | 0.70%             |  |  |  | No            | 1                  | On Loan: No      |
| Gp-act Iii Acquisition Corp                          | GP-Act III Acquisition Corp Class B Warrants           | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | KY        |     21362 | NC      | $108.95       | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| N/A                                                  | Forward Contracts: EUR 05/12/2025                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |         1 | NC      | $1700309.00   | 0.64%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                                  | Forward Contracts: GBP 07/02/2025                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |         1 | NC      | $-7598203.00  | -2.88%            |  |  |  | No            | 2                  | On Loan: No      |
| Platinum Capital Ltd                                 | Platinum Capital, Ltd.                                 | CUSIP: Q7665H105<br>LEI: 7KW5LRH3I6FMWUBNKK59 | Long             | EC               | CORP              | AU        |   2149942 | NS      | $1859144.29   | 0.70%             |  |  |  | No            | 1                  | On Loan: No      |
| New Holland Special Opps Aggregator LP Series Y      | New Holland Special Opps Aggregator LP Series Y        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |       819 | NS      | $806115.67    | 0.31%             |  |  |  | No            | N/A                | On Loan: No      |
| J.P. Morgan Chase & Co.                              | Recv Ipu Ln Trs:b1fl3c7                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $275263.94    | 0.10%             |  |  |  | No            | 2                  | On Loan: No      |
| Allspring Global Dividend Opportunity Fund           | Allspring Global Dividend Opportunity Fund             | CUSIP: 94987C103<br>LEI: 5493000KZPDD7O5F1562 | Long             | EC               | RF                | US        |      3068 | NS      | $15401.36     | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Fannie Mae                                           | FNMA, Series 23-52, Class IO                           | CUSIP: 3136BQQE2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   6436302 | PA      | $1219389.67   | 0.46%             | 2051-05-25      | Fixed         | 3.00%                 | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                              | Recv Gsct Ln Trs:bklxd97                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $450822.25    | 0.17%             |  |  |  | No            | 2                  | On Loan: No      |
| China Evergrande Group                               | China Evergrande Group                                 | CUSIP: N/A<br>LEI: 549300CUF7B1LAB15T90       | Long             | DBT              | CORP              | KY        |  57621000 | PA      | $1152420.00   | 0.44%             | 2025-06-28      | Fixed         | 8.75%                 | No            | 2                  | On Loan: No      |
| Spartannash Co                                       | SpartanNash Co.                                        | CUSIP: 847215100<br>LEI: 549300TV3QCCSQLF5X16 | Short            | EC               | CORP              | US        |     -6642 | NS      | $-131777.28   | -0.05%            |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                  | New Providence Holdings III, LLC CL A                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     15759 | NS      | $157590.00    | 0.06%             |  |  |  | No            | 3                  | On Loan: No      |
| Blackrock Resources & Commodities Strategy Trust     | BlackRock Resources & Commodities Strategy Trust       | CUSIP: 09257A108<br>LEI: 8DZAUY8151XS5PISSX42 | Long             | EC               | RF                | US        |      4066 | NS      | $36472.02     | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Gabelli Healthcare & Wellnessrx Trust/the            | Gabelli Healthcare & WellnessRx Trust                  | CUSIP: 36246K103<br>LEI: 549300XULWZNLHFTG832 | Long             | EC               | RF                | US        |     23912 | NS      | $234337.60    | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Gp-act Iii Acquisition Corp                          | GP-Act III Acquisition Corp Class A Sponsor Shares     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KY        |     17094 | NS      | $9743.58      | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| Level 3 Financing Inc                                | Level 3 Financing, Inc.                                | CUSIP: 527298BU6<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |   2778000 | PA      | $3014130.00   | 1.14%             | 2030-05-15      | Fixed         | 10.50%                | Yes           | 2                  | On Loan: No      |
| Weibo Corp                                           | Weibo Corp.                                            | CUSIP: 948596101<br>LEI: 549300Q9ID4640FE0422 | Long             | EC               | CORP              | KY        |    343192 | NS      | $2779855.20   | 1.05%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                              | Recv Divi Ln Trs:b65tlw2                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $837262.19    | 0.32%             |  |  |  | No            | 2                  | On Loan: No      |
| Bny Mellon Municipal Bond Infrastructure Fund Inc    | BNY Mellon Municipal Bond Infrastructure Fund, Inc.    | CUSIP: 09662W109<br>LEI: 5493003OUY2BKGFZ2414 | Long             | EC               | RF                | US        |       387 | NS      | $3920.31      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| New Providence Acquisition Corp Iii                  | New Providence Acquisition Corp. III                   | CUSIP: G6476A128<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     18544 | NS      | $187294.40    | 0.07%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                              | Recv Bgs Ln Trs:bfxyh24                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $250634.26    | 0.09%             |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                              | Mercantile Investment Trust PLC                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $2967104.88   | 1.12%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                                  | Sizzle II VO Sponsor II, LLC Class A                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     72306 | NS      | $216.92       | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| Tribeca Global Natural Resources Ltd                 | Tribeca Global Natural Resources, Ltd.                 | CUSIP: Q9217M103<br>LEI: 549300BYPPXY2BGKOZ26 | Long             | EC               | CORP              | AU        |      1796 | NS      | $1604.85      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| China Evergrande Group                               | China Evergrande Group                                 | CUSIP: G2119WAP1<br>LEI: 549300CUF7B1LAB15T90 | Long             | DBT              | CORP              | KY        |   4372000 | PA      | $87440.00     | 0.03%             | 2024-04-11      | Fixed         | 10.50%                | No            | 2                  | On Loan: No      |
| N/A                                                  | Soulpower Acquisition Sponsor LLC Class A              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    120459 | NS      | $481.84       | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| J.P. Morgan Chase & Co.                              | Recv Jii Ln Trs:0345035                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $81734.10     | 0.03%             |  |  |  | No            | 2                  | On Loan: No      |
| Allspring Utilities And High Income Fund             | Allspring Utilities and High Income Fund               | CUSIP: 94987E109<br>LEI: 549300FUV7SPMTSLG229 | Long             | EC               | RF                | US        |      2107 | NS      | $22797.74     | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Allfunds Group Plc                                   | Allfunds Group PLC                                     | CUSIP: N/A<br>LEI: 9598005U8TZQ8Q64SC71       | Long             | EC               | CORP              | GB        |    235106 | NS      | $1321044.67   | 0.50%             |  |  |  | No            | 1                  | On Loan: No      |
| Arbutus Biopharma Corp                               | Arbutus Biopharma Corp.                                | CUSIP: 03879J100<br>LEI: 25490064CESONAUIAS23 | Long             | EC               | CORP              | CA        |    117906 | NS      | $418566.30    | 0.16%             |  |  |  | No            | 1                  | On Loan: No      |
| The Options Clearing Corporation                     | Russell 2000 Index/Old-RUT US 05/16/25 C2340           | CUSIP: 47399NN70<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |       141 | NC      | $33840.00     | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Snap Inc                                             | Snap, Inc.                                             | CUSIP: 83304A106<br>LEI: 549300JNC0L6VP8A2Q35 | Long             | EC               | CORP              | US        |    221998 | NS      | $1767104.08   | 0.67%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                              | Recv Asl Ln Trs:0006655                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $6681.09      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Rr Donnelley & Sons Co                               | RR Donnelley & Sons Co.                                | CUSIP: 257867BK6<br>LEI: SU4X0P4WWRGOQDTSV032 | Long             | DBT              | CORP              | US        |   2572000 | PA      | $2443400.00   | 0.92%             | 2029-08-01      | Fixed         | 10.88%                | Yes           | 2                  | On Loan: No      |
| Jpmorgan Us Treasury Plus Money Market Fund          | JPMorgan US Treasury Plus Money Market Fund            | CUSIP: 4812C2734<br>LEI: 549300WIC5LVF25Z1127 | Long             | STIV             | RF                | US        |  27845143 | NS      | $27845142.89  | 10.54%            |  |  |  | No            | 1                  | On Loan: No      |
| Gabelli Dividend & Income Trust/the                  | Gabelli Dividend & Income Trust                        | CUSIP: 36242H104<br>LEI: 549300082N1MHBT8NI60 | Long             | EC               | RF                | US        |     59672 | NS      | $1404678.88   | 0.53%             |  |  |  | No            | 1                  | On Loan: No      |
| Baidu Inc                                            | Baidu, Inc.                                            | CUSIP: 056752108<br>LEI: 254900AL64IANZYI1E02 | Long             | EC               | CORP              | KY        |     13235 | NS      | $1162297.70   | 0.44%             |  |  |  | No            | 1                  | On Loan: No      |
| Chs/community Health Sys                             | Community Health Systems, Inc.                         | CUSIP: 12543DBG4<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |    443000 | PA      | $433586.25    | 0.16%             | 2027-03-15      | Fixed         | 5.62%                 | Yes           | 2                  | On Loan: No      |
| N/A                                                  | Forward Contracts: AUD 05/12/2025                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |         1 | NC      | $-17360497.00 | -6.57%            |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                              | Recv Mte Ln Trs:bm8h3x0                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $1534850.66   | 0.58%             |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                              | Recv Pct Ln Trs:0422002                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $4361972.67   | 1.65%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                                  | Forward Contracts: EUR 07/02/2025                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |         1 | NC      | $-1251086.00  | -0.47%            |  |  |  | No            | 2                  | On Loan: No      |
| Virtus Dividend Interest & Premium Strategy Fund     | Virtus Dividend Interest & Premium Strategy Fund       | CUSIP: 92840R101<br>LEI: 549300535GECAFITZP67 | Long             | EC               | RF                | US        |     15274 | NS      | $177636.62    | 0.07%             |  |  |  | No            | 1                  | On Loan: No      |
| Blackrock Muniholdings New York Quality Fund Inc     | BlackRock MuniHoldings New York Quality Fund, Inc.     | CUSIP: 09255C106<br>LEI: YP1D2S6Y4JY0A7W3DV93 | Long             | EC               | RF                | US        |       149 | NS      | $1481.06      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Vertex Inc                                           | Vertex, Inc.                                           | CUSIP: 92538J106<br>LEI: 549300QMYW171MP1PL50 | Long             | EC               | CORP              | US        |     13438 | NS      | $537923.14    | 0.20%             |  |  |  | No            | 1                  | On Loan: No      |
| Us Treasury N/b                                      | U.S. Treasury Note                                     | CUSIP: 91282CMY4<br>LEI: 254900HROIFWPRGM1V77 | Short            | DBT              | UST               | US        | -89505000 | PA      | $-89744497.48 | -33.96%           | 2027-04-30      | Fixed         | 3.75%                 | No            | 1                  | On Loan: No      |
| N/A                                                  | New Providence Holdings III, LLC CL A                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    126069 | NS      | $378.21       | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| China Evergrande Group                               | China Evergrande Group                                 | CUSIP: AM9155384<br>LEI: 549300CUF7B1LAB15T90 | Long             | DBT              | CORP              | KY        |  16395000 | PA      | $327900.00    | 0.12%             | 2025-03-23      | Fixed         | 8.25%                 | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                              | Recv Jmg Ln Trs:bmxwn18                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $307.69       | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| BEEHERO LTD                                          | G-ILS Transporation, Ltd.                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | IL        |      2000 | NS      | $2023331.00   | 0.77%             |  |  |  | No            | 3                  | On Loan: No      |
| J.P. Morgan Chase & Co.                              | JPMorgan European Discovery Trust PLC                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $626239.41    | 0.24%             |  |  |  | No            | 2                  | On Loan: No      |
| Abrdn Total Dynamic Dividend Fund                    | abrdn Total Dynamic Dividend Fund                      | CUSIP: 00326L100<br>LEI: 254900D48NKNOGZ95B43 | Long             | EC               | RF                | US        |      1337 | NS      | $11016.88     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                              | RIT Capital Partners PLC TRS                           | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $1225572.37   | 0.46%             |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                              | European Assets Trust PLC TRS                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $226196.39    | 0.09%             |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                              | Recv Ipo Ln Trs:b128j45                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | US        |         1 | NC      | $378028.45    | 0.14%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                                  | Forward Contracts: AUD 05/12/2025                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |         1 | NC      | $10826288.00  | 4.10%             |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                              | Aberdeen Diversified Income and Growth Trust PLC       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $1234534.00   | 0.47%             |  |  |  | No            | 2                  | On Loan: No      |
| The Options Clearing Corporation                     | Russell 2000 Index/Old-RUT US 05/16/25 C2305           | CUSIP: 47399NN05<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |        25 | NC      | $6000.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Adams Natural Resources Fund Inc                     | Adams Natural Resources Fund, Inc.                     | CUSIP: 00548F105<br>LEI: 549300LPTQAH0G3NGD42 | Long             | EC               | RF                | US        |     37130 | NS      | $740743.50    | 0.28%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                  | NewHold Investment Corp III Sponsor Shs Class B        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      8378 | NS      | $83780.00     | 0.03%             |  |  |  | No            | 3                  | On Loan: No      |
| N/A                                                  | Forward Contracts: AUD 05/12/2025                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |         1 | NC      | $-8968523.00  | -3.39%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                                  | Forward Contracts: GBP 07/02/2025                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |         1 | NC      | $3999054.00   | 1.51%             |  |  |  | No            | 2                  | On Loan: No      |
| Sizzle Acquisition Corp Ii                           | Sizzle Acquisition Corp. II                            | CUSIP: G8193F125<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |      9267 | NS      | $92855.34     | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                              | Recv Grid Ln Trs:bfx3k77                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $67572.41     | 0.03%             |  |  |  | No            | 2                  | On Loan: No      |
| China Evergrande Group                               | China Evergrande Group                                 | CUSIP: G2119WAQ9<br>LEI: 549300CUF7B1LAB15T90 | Long             | DBT              | CORP              | KY        |   7568000 | PA      | $151360.00    | 0.06%             | 2049-12-31      | Fixed         | 10.00%                | No            | 2                  | On Loan: No      |
| Titan N.V.                                           | Titan Acquisition Sponsor Holdco, LLC Class A          | CUSIP: N/A<br>LEI: 724500IS1M4H9S4SDD39       | Long             | EC               | CORP              | US        |     72306 | NS      | $289.22       | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| Commscope Holding Co Inc                             | CommScope Holding Co., Inc.                            | CUSIP: 20337X109<br>LEI: 254900AW4CEPCQWSRI58 | Long             | EC               | CORP              | US        |     73821 | NS      | $276090.54    | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| Modivcare Inc                                        | ModivCare, Inc.                                        | CUSIP: 60783LAC4<br>LEI: 549300EFZIFW7F7I0Q28 | Long             | LON              | CORP              | US        |    955610 | PA      | $656685.43    | 0.25%             | 2031-07-01      | Floating      | 4.75%                 | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                              | Recv Cyn Ln Trs:0035392                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $2156276.99   | 0.82%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                                  | Critical Metals Corp.                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     38669 | NS      | $193345.00    | 0.07%             |  |  |  | No            | 1                  | On Loan: No      |
| Abrdn Life Sciences Investors                        | abrdn Life Sciences Investors                          | CUSIP: 87911K100<br>LEI: 5493007BYZPSOVVS0M04 | Long             | EC               | RF                | US        |    114020 | NS      | $1462876.60   | 0.55%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                              | Scottish American Investment Co. PLC TRS               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $112519.80    | 0.04%             |  |  |  | No            | 2                  | On Loan: No      |
| Amc Entertainment Hldgs                              | AMC Entertainment Holdings, Inc.                       | CUSIP: 00164CAD7<br>LEI: 549300ZO77UNR6NRBR11 | Long             | LON              | CORP              | US        |   1277010 | PA      | $1260785.55   | 0.48%             | 2029-01-04      | Floating      | 11.32%                | No            | 2                  | On Loan: No      |
| Diversified United Investment Ltd                    | Diversified United Investment, Ltd.                    | CUSIP: Q3212S108<br>LEI: 254900ENGLQ9SQJJCR84 | Long             | EC               | CORP              | AU        |    159966 | NS      | $528725.15    | 0.20%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                  | JP.CS BROKER SWEEP                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | RF                | US        |  50049885 | NS      | $50049884.74  | 18.94%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                              | Recv Att Ln Trs:bng2m15                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $1905951.08   | 0.72%             |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                              | Recv Nait Ln Trs:bj00z30                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $974904.95    | 0.37%             |  |  |  | No            | 2                  | On Loan: No      |
| Us Treasury N/b                                      | U.S. Treasury Note                                     | CUSIP: 91282CMU2<br>LEI: 254900HROIFWPRGM1V77 | Short            | DBT              | UST               | US        | -30000000 | PA      | $-30358008.00 | -11.49%           | 2030-03-31      | Fixed         | 4.00%                 | No            | 1                  | On Loan: No      |
| N/A                                                  | Forward Contracts: EUR 05/12/2025                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |         1 | NC      | $1586955.00   | 0.60%             |  |  |  | No            | 2                  | On Loan: No      |
| Geo Group Inc/the                                    | GEO Group, Inc.                                        | CUSIP: 36162J106<br>LEI: 54930024XOXET7NQVZ63 | Long             | EC               | CORP              | US        |     10444 | NS      | $326688.32    | 0.12%             |  |  |  | No            | 1                  | On Loan: No      |
| Goldman Sachs                                        | MARKIT CDX HY S42 06/29 ICE                            | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCR              | CORP              | US        |         1 | NC      | $106587.43    | 0.04%             |  |  |  | No            | 2                  | On Loan: No      |
| Level 3 Financing Inc                                | Level 3 Financing, Inc.                                | CUSIP: 527298CF8<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |   1556800 | PA      | $1233764.00   | 0.47%             | 2030-10-15      | Fixed         | 3.88%                 | Yes           | 2                  | On Loan: No      |
| Wcm Global Growth Ltd                                | WCM Global Growth, Ltd.                                | CUSIP: Q28266106<br>LEI: 2138004UDNFCPX5I6A77 | Long             | EC               | CORP              | AU        |    158002 | NS      | $166487.29    | 0.06%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                              | Recv Anni Ln Trs:0604877                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $414494.64    | 0.16%             |  |  |  | No            | 2                  | On Loan: No      |
| Argo Global Listed Infrastructure Ltd                | Argo Global Listed Infrastructure, Ltd.                | CUSIP: Q05194107<br>LEI: 213800D6B28GSXHHX388 | Long             | EC               | CORP              | AU        |     83741 | NS      | $123908.96    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                              | Recv Bion Sw Trs:7117884                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | CH        |         1 | NC      | $1166175.08   | 0.44%             |  |  |  | No            | 2                  | On Loan: No      |
| Bumble Inc                                           | Bumble, Inc.                                           | CUSIP: 12047B105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    479549 | NS      | $2023696.78   | 0.77%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                              | Recv Usa Ln Trs:bdfghw4                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $10748548.88  | 4.07%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                                  | Forward Contracts: GBP 05/12/2025                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |         1 | NC      | $1199441.00   | 0.45%             |  |  |  | No            | 2                  | On Loan: No      |
| Goldman Sachs                                        | R.R. Donnelley & Sons Company                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCR              | CORP              | US        |         1 | NC      | $73923.08     | 0.03%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                                  | Forward Contracts: GBP 07/02/2025                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |         1 | NC      | $1466320.00   | 0.55%             |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                              | Recv Bgfd Ln Trs:0048583                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $583460.97    | 0.22%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                                  | Forward Contracts: GBP 07/02/2025                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |         1 | NC      | $52480925.00  | 19.86%            |  |  |  | No            | 2                  | On Loan: No      |
| REVLON INTERMEDIATE HOLDINGS IV LLC                  | Revlon Intermediate Holdings IV LLC, Term Loan         | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   6111000 | PA      | $5805450.00   | 2.20%             | 2028-05-02      | Floating      | 12.32%                | No            | 2                  | On Loan: No      |
| Pimco California Municipal Income Fund Ii            | PIMCO California Municipal Income Fund II              | CUSIP: 72200M108<br>LEI: 1R86W760D611I8RHLX24 | Long             | EC               | RF                | US        |      3588 | NS      | $19985.16     | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Royal Bank Of Canada                                 | MARKIT CDX HY S43 5Y 2/29 ICE                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCR              | CORP              | US        |         1 | NC      | $-4835638.91  | -1.83%            |  |  |  | No            | 2                  | On Loan: No      |
| Vertical Aerospace Ltd                               | Vertical Aerospace, Ltd.                               | CUSIP: G9471C149<br>LEI: 9845002F3CF4E56DA491 | N/A              | DE               | CORP              | GB        |    249443 | NC      | $386636.65    | 0.15%             |  |  |  | No            | 3                  | On Loan: No      |
| Compass Diversified Holdings                         | Compass Diversified Holdings                           | CUSIP: 20451Q104<br>LEI: 5299001SM1LBYANJRR58 | Long             | EC               | CORP              | US        |     17627 | NS      | $303008.13    | 0.11%             |  |  |  | No            | 1                  | On Loan: No      |
| Hearts And Minds Investments Ltd/fund                | Hearts and Minds Investments, Ltd.                     | CUSIP: Q4524H103<br>LEI: 2549002S6SA5DJZXRD63 | Long             | EC               | CORP              | AU        |   1751531 | NS      | $3186315.33   | 1.21%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                  | GS.FU BROKER SWEEP                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | RF                | US        |   4121935 | NS      | $4121934.85   | 1.56%             |  |  |  | No            | 1                  | On Loan: No      |
| Vortex Opco Llc                                      | Vortex Opco LLC                                        | CUSIP: G9158TAC4<br>LEI: N/A                  | Long             | LON              | CORP              | KY        |   1690000 | PA      | $1689391.60   | 0.64%             | 2030-04-30      | Floating      | 10.55%                | No            | 2                  | On Loan: No      |
| Icahn Enterprises/fin                                | Icahn Enterprises LP / Icahn Enterprises Finance Corp. | CUSIP: 451102BZ9<br>LEI: 549300T0G4GS0SINS786 | Short            | DBT              | CORP              | US        |  -1637000 | PA      | $-1565381.25  | -0.59%            | 2027-05-15      | Fixed         | 5.25%                 | No            | 2                  | On Loan: No      |
| Bitwise 10 Crypto Index Fund                         | Bitwise 10 Crypto Index Fund                           | CUSIP: 091749101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    160548 | NS      | $8756287.92   | 3.31%             |  |  |  | No            | 1                  | On Loan: No      |
| Bny Mellon Strategic Municipals Inc                  | BNY Mellon Strategic Municipals, Inc.                  | CUSIP: 05588W108<br>LEI: 549300FH0LKMOBY7N332 | Long             | EC               | RF                | US        |     21897 | NS      | $128097.45    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Dish Network Corp                                    | DISH Network Corp.                                     | CUSIP: 25470MAG4<br>LEI: 529900U350CWHH15G169 | Long             | DBT              | CORP              | US        |   1430000 | PA      | $1504181.25   | 0.57%             | 2027-11-15      | Fixed         | 11.75%                | Yes           | 2                  | On Loan: No      |
| N/A                                                  | Forward Contracts: JPY 05/12/2025                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |         1 | NC      | $-1694470.00  | -0.64%            |  |  |  | No            | 2                  | On Loan: No      |
| Cannae Holdings Inc                                  | Cannae Holdings, Inc.                                  | CUSIP: 13765N107<br>LEI: 549300OGRF1ICI7D2V77 | Long             | EC               | CORP              | US        |    240554 | NS      | $4260211.34   | 1.61%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                              | Baillie Gifford European Growth Trust PLC              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $996831.09    | 0.38%             |  |  |  | No            | 2                  | On Loan: No      |
| Tortoise Energy Infrastructure Corp                  | Tortoise Energy Infrastructure Fund, Inc.              | CUSIP: 89147L886<br>LEI: 5493008P735YB22YPB89 | Long             | EC               | RF                | US        |     25793 | NS      | $1025775.09   | 0.39%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                              | Recv Rmmc Ln Trs:bndmjp1                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $364299.24    | 0.14%             |  |  |  | No            | 2                  | On Loan: No      |
| Grayscale Bitcoin Trust Etf                          | Grayscale Bitcoin Trust ETF                            | CUSIP: 389637109<br>LEI: 549300XZGUJEF0EHBE41 | Short            | EC               | RF                | US        |    -96815 | NS      | $-7190450.05  | -2.72%            |  |  |  | No            | 1                  | On Loan: No      |
| Altice France Sa                                     | Altice France SA                                       | CUSIP: 02156LAH4<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |    736000 | PA      | $606280.00    | 0.23%             | 2029-10-15      | Fixed         | 5.50%                 | Yes           | 2                  | On Loan: No      |
| Blackrock Science And Technology Term Trust          | BlackRock Science and Technology Term Trust            | CUSIP: 09260K101<br>LEI: 549300NQ3IL1NKVC9M67 | Long             | EC               | RF                | US        |     70730 | NS      | $1254750.20   | 0.47%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                              | Recv Prsr Ln Trs:bf01nh5                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $83856.07     | 0.03%             |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                              | Templeton EM Investment Trust PLC TRS                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $537853.30    | 0.20%             |  |  |  | No            | 2                  | On Loan: No      |
| Future Generation Global Ltd                         | Future Generation Global, Ltd.                         | CUSIP: Q39694106<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |     97988 | NS      | $88500.27     | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| Hennessy Capital Investment Corp Vii                 | Hennessy Capital Investment Corp. VII                  | CUSIP: G4405D115<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      7305 | NC      | $1534.05      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Gsr Iii Acquisition Corp                             | GSR III Acquisition Corp.                              | CUSIP: G4R103131<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      1021 | NC      | $2399.35      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| BNY Mellon U.S. Treasury Fund                        | BNY Mellon U.S. Treasury Fund                          | CUSIP: G1206E136<br>LEI: N/A                  | Long             | STIV             | RF                | IE        |  10291123 | NS      | $10291122.96  | 3.89%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                              | Herald Investment Trust PLC                            | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $10114691.61  | 3.83%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                                  | Forward Contracts: GBP 05/12/2025                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |         1 | NC      | $-666356.00   | -0.25%            |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                              | Recv Hint Ln Trs:b3phcs8                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $1363966.23   | 0.52%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                                  | Forward Contracts: GBP 05/12/2025                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |         1 | NC      | $-1679648.00  | -0.64%            |  |  |  | No            | 2                  | On Loan: No      |
| Real Asset Acquisition Corp                          | Real Asset Acquisition Corp.                           | CUSIP: G73944129<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     36801 | NS      | $372058.11    | 0.14%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                              | Recv Mut Ln Trs:0611112                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $344310.09    | 0.13%             |  |  |  | No            | 2                  | On Loan: No      |
| Israel Acquisitions Corp                             | Israel Acquisitions Corp.                              | CUSIP: G49667119<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     18390 | NC      | $2298.75      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                  | Sizzle II VO Sponsor II, LLC Class B                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     90383 | NS      | $90383.00     | 0.03%             |  |  |  | No            | 3                  | On Loan: No      |
| Gamco Natural Resources Gold & Income Trust          | GAMCO Natural Resources Gold & Income Trust            | CUSIP: 36465E101<br>LEI: 23EBEGZ81713Q1VCP222 | Long             | EC               | RF                | US        |      3364 | NS      | $19982.16     | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Asurion Llc                                          | Asurion LLC                                            | CUSIP: 04649VBC3<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |    758684 | PA      | $737414.29    | 0.28%             | 2028-08-21      | Floating      | 8.68%                 | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                              | Recv Aas Ln Trs:bmf19b5                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $203578.48    | 0.08%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                                  | Forward Contracts: GBP 07/02/2025                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |         1 | NC      | $-2799338.00  | -1.06%            |  |  |  | No            | 2                  | On Loan: No      |
| Anywhere Real Estate Inc                             | Anywhere Real Estate, Inc.                             | CUSIP: 75605Y106<br>LEI: 5493004HBTOTE9DI9P12 | Long             | EC               | CORP              | US        |     92268 | NS      | $319247.28    | 0.12%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                              | Recv Sst Ln Trs:0783613                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $32816.25     | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                                  | Forward Contracts: GBP 05/12/2025                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |         1 | NC      | $5330849.00   | 2.02%             |  |  |  | No            | 2                  | On Loan: No      |
| Newhold Investment Corp Iii                          | NewHold Investment Corp. III                           | CUSIP: G6486E110<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      2084 | NC      | $437.64       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| The Options Clearing Corporation                     | Russell 2000 Index/Old-RUT US 05/16/25 C2330           | CUSIP: 47399NN54<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |        66 | NC      | $15840.00     | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Clear Channel Outdoor Holdings, Inc.                 | Clear Channel Outdoor Holdings, Inc.                   | CUSIP: 18453HAD8<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |   2377000 | PA      | $1955082.50   | 0.74%             | 2029-06-01      | Fixed         | 7.50%                 | Yes           | 2                  | On Loan: No      |
| N/A                                                  | Forward Contracts: GBP 07/02/2025                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |         1 | NC      | $-1066415.00  | -0.40%            |  |  |  | No            | 2                  | On Loan: No      |
| 1261229 Bc Ltd                                       | 1261229 BC, Ltd.                                       | CUSIP: 68288AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   1557000 | PA      | $1529752.50   | 0.58%             | 2032-04-15      | Fixed         | 10.00%                | Yes           | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                              | Recv Pac Ln Trs:0667438                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $415966.74    | 0.16%             |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                              | Recv Scp Ln Trs:0610841                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $1229603.50   | 0.47%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                                  | Forward Contracts: CAD 05/12/2025                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |         1 | NC      | $-2757831.00  | -1.04%            |  |  |  | No            | 2                  | On Loan: No      |
| Labl Inc                                             | LABL, Inc.                                             | CUSIP: 50168QAF2<br>LEI: 5493004FUZN8R6Y3VB98 | Long             | DBT              | CORP              | US        |   1111000 | PA      | $911020.00    | 0.34%             | 2031-10-01      | Fixed         | 8.62%                 | Yes           | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                              | Recv Pey Ln Trs:b28c2r2                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GG        |         1 | NC      | $265715.00    | 0.10%             |  |  |  | No            | 2                  | On Loan: No      |
| Pioneer Municipal High Income Opportunities Fund Inc | Pioneer Municipal High Income Opportunities Fund, Inc. | CUSIP: 723760104<br>LEI: 5493005BKX8X756MKL25 | Long             | EC               | RF                | US        |      4798 | NS      | $56280.54     | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| China Evergrande Group                               | China Evergrande Group                                 | CUSIP: N/A<br>LEI: 549300CUF7B1LAB15T90       | Long             | DBT              | CORP              | KY        |  11802000 | PA      | $236040.00    | 0.09%             | 2023-06-28      | Fixed         | 7.50%                 | No            | 2                  | On Loan: No      |
| Dave & Buster's Entertainment Inc                    | Dave & Buster's Entertainment, Inc.                    | CUSIP: 238337109<br>LEI: 529900WTVU85QZLYHR86 | Long             | EC               | CORP              | US        |     14430 | NS      | $276911.70    | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                              | Recv Tpou Ln Trs:b1yq721                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | US        |         1 | NC      | $468198.20    | 0.18%             |  |  |  | No            | 2                  | On Loan: No      |
| Arbe Robotics Ltd                                    | Arbe Robotics, Ltd.                                    | CUSIP: M1R95N100<br>LEI: N/A                  | Long             | EC               | CORP              | IL        |    111764 | NS      | $148646.12    | 0.06%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                  | Forward Contracts: GBP 07/02/2025                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |         1 | NC      | $1999527.00   | 0.76%             |  |  |  | No            | 2                  | On Loan: No      |
| Caesars Entertain Inc                                | Caesars Entertainment, Inc.                            | CUSIP: 12769GAC4<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |    922000 | PA      | $928915.00    | 0.35%             | 2032-02-15      | Fixed         | 6.50%                 | Yes           | 2                  | On Loan: No      |
| Texas Ventures Acquisition Iii Corp                  | Texas Ventures Acquisition III Corp.                   | CUSIP: G8772L121<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     14835 | NS      | $148498.35    | 0.06%             |  |  |  | No            | 1                  | On Loan: No      |
| European Smaller Companies/the                       | European Smaller Companies                             | CUSIP: G9T57B100<br>LEI: 213800N1B1HCQG2W4V90 | Long             | EC               | CORP              | GB        |    150000 | NS      | $370622.10    | 0.14%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                  | Forward Contracts: GBP 05/12/2025                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |         1 | NC      | $11861138.00  | 4.49%             |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                              | Recv Gcl Ln Trs:b15fw33                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | JE        |         1 | NC      | $262512.03    | 0.10%             |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                              | Recv Vsl Ln Trs:bvg6x43                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $249656.01    | 0.09%             |  |  |  | No            | 2                  | On Loan: No      |
| Amcil Ltd/fund                                       | AMCIL, Ltd.                                            | CUSIP: Q0306W102<br>LEI: 254900DZF83Q53ZPPP82 | Short            | EC               | CORP              | AU        |      -123 | NS      | $-83.91       | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| China Evergrande Group                               | China Evergrande Group                                 | CUSIP: G2119WAY2<br>LEI: 549300CUF7B1LAB15T90 | Long             | DBT              | CORP              | KY        |  19888000 | PA      | $397760.00    | 0.15%             | 2024-01-22      | Fixed         | 12.00%                | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                              | Lowland Investment Company PLC TRS                     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $3076916.15   | 1.16%             |  |  |  | No            | 2                  | On Loan: No      |
| Mff Capital Investments Ltd                          | MFF Capital Investments, Ltd.                          | CUSIP: Q6S61B118<br>LEI: 549300OYTXE8HSZSYH82 | Long             | EC               | CORP              | AU        |    735232 | NS      | $1930904.71   | 0.73%             |  |  |  | No            | 1                  | On Loan: No      |
| Alliancebernstein National Municipal Income Fund Inc | AllianceBernstein National Municipal Income Fund, Inc. | CUSIP: 01864U106<br>LEI: MNYPOOOZYY8V01GEIT28 | Long             | EC               | RF                | US        |     79712 | NS      | $826613.44    | 0.31%             |  |  |  | No            | 1                  | On Loan: No      |
| Roman Dbdr Acquisition Corp Ii                       | Roman DBDR Acquisition Corp. II                        | CUSIP: G7633M112<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |        33 | NC      | $12.79        | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                  | Forward Contracts: GBP 07/02/2025                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |         1 | NC      | $666509.00    | 0.25%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                                  | PK Fund 2023, LLC                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |       759 | NS      | $759407.60    | 0.29%             |  |  |  | No            | 3                  | On Loan: No      |
| Realreal Inc/the                                     | RealReal, Inc.                                         | CUSIP: 88339P101<br>LEI: 549300O00VUGT4H1PE90 | Long             | EC               | CORP              | US        |     45739 | NS      | $265286.20    | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                  | Forward Contracts: SEK 05/12/2025                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |         1 | NC      | $-1449342.00  | -0.55%            |  |  |  | No            | 2                  | On Loan: No      |
| China Evergrande Group                               | China Evergrande Group                                 | CUSIP: ZS0897653<br>LEI: 549300CUF7B1LAB15T90 | Long             | DBT              | CORP              | KY        |   6148000 | PA      | $122960.00    | 0.05%             | 2049-12-31      | Fixed         | 9.50%                 | No            | 2                  | On Loan: No      |
| N/A                                                  | Forward Contracts: GBP 07/02/2025                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |         1 | NC      | $-1999527.00  | -0.76%            |  |  |  | No            | 2                  | On Loan: No      |
| X Corp                                               | X Corp.                                                | CUSIP: 90184NAK4<br>LEI: 549300I8RX485XMK6836 | Long             | LON              | CORP              | US        |    959353 | PA      | $937167.96    | 0.35%             | 2029-10-29      | Floating      | 9.50%                 | No            | 2                  | On Loan: No      |
| Platinum Asia Investments Ltd                        | Platinum Asia Investments, Ltd.                        | CUSIP: Q7663V106<br>LEI: 549300836DYWB3XCP779 | Long             | EC               | CORP              | AU        |   8924981 | NS      | $5716890.65   | 2.16%             |  |  |  | No            | 1                  | On Loan: No      |
| John Hancock Diversified Income Fund                 | John Hancock Diversified Income Fund                   | CUSIP: 47804L102<br>LEI: TXPTLN9B34V0S0MTR071 | Long             | EC               | RF                | US        |       137 | NS      | $1387.23      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| T Rowe Price High Yield Fund Inc                     | T Rowe Price High Yield Fund, Inc.                     | CUSIP: 741481105<br>LEI: 2F9VPFCSWR3EU5WBPH73 | Long             | EC               | RF                | US        |     61090 | NS      | $356152.27    | 0.13%             |  |  |  | No            | 1                  | On Loan: No      |
| Inflection Point Acquisition Corp Iii                | Inflection Point Acquisition Corp. III                 | CUSIP: G47875128<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     54192 | NS      | $548964.96    | 0.21%             |  |  |  | No            | 1                  | On Loan: No      |
| Calamos Long/short Equity & Dynamic Income Trust     | Calamos Long/Short Equity & Dynamic Income Trust       | CUSIP: 12812C106<br>LEI: 54930028TUOZZMUQBY94 | Long             | EC               | RF                | US        |      2178 | NS      | $33192.72     | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                              | Recv Ibt Ln Trs:0455934                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $244472.25    | 0.09%             |  |  |  | No            | 2                  | On Loan: No      |
| ALTERNATIVE CAPITAL INVESTMENTS FUND III             | Alternative Capital Investments Fund III LP            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |       424 | NS      | $461025.56    | 0.17%             |  |  |  | No            | N/A                | On Loan: No      |
| J.P. Morgan Chase & Co.                              | Recv Egl Ln Trs:bd3v464                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $2259771.55   | 0.86%             |  |  |  | No            | 2                  | On Loan: No      |
| Soulpower Acquisition Corp                           | Soulpower Acquisition Corp.                            | CUSIP: G82745129<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     18534 | NS      | $185710.68    | 0.07%             |  |  |  | No            | 1                  | On Loan: No      |
| China Evergrande Group                               | China Evergrande Group                                 | CUSIP: G2119WAZ9<br>LEI: 549300CUF7B1LAB15T90 | Long             | DBT              | CORP              | KY        |   4600000 | PA      | $92000.00     | 0.03%             | 2049-12-31      | Fixed         | 11.50%                | No            | 2                  | On Loan: No      |
| Grayscale Ethereum Classic Trust                     | Grayscale Ethereum Classic Trust                       | CUSIP: 38963Q107<br>LEI: 54930092HET8DVEQYD83 | Long             | EC               | RF                | US        |    971939 | NS      | $7338139.45   | 2.78%             |  |  |  | No            | 1                  | On Loan: No      |
| Titan Acquisition Corp                               | Titan Acquisition Corp.                                | CUSIP: G8901A129<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     18540 | NS      | $185958.05    | 0.07%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                  | Forward Contracts: GBP 07/02/2025                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |         1 | NC      | $4265658.00   | 1.61%             |  |  |  | No            | 2                  | On Loan: No      |
| Polestar Automotive Holding Uk Plc                   | Polestar Automotive Holding UK PLC                     | CUSIP: 731105201<br>LEI: 894500HDA1DJKHYN4D83 | Long             | EC               | CORP              | GB        |    275435 | NS      | $286452.40    | 0.11%             |  |  |  | No            | 1                  | On Loan: No      |
| Goldman Sachs                                        | CSC Holdings, LLC                                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCR              | CORP              | US        |         1 | NC      | $-56673.39    | -0.02%            |  |  |  | No            | 2                  | On Loan: No      |
| GEO Group                                            | The GEO Group, Inc., Term B Loan                       | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   1247954 | PA      | $1267060.53   | 0.48%             | 2029-04-01      | Floating      | 9.58%                 | No            | 2                  | On Loan: No      |
| ALTERNATIVE CAPITAL INVESTMENTS FUND III             | Alternative Capital Investments Fund III LP 2          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      2521 | NS      | $4428628.11   | 1.68%             |  |  |  | No            | N/A                | On Loan: No      |
| Rapid7 Inc                                           | Rapid7, Inc.                                           | CUSIP: 753422104<br>LEI: 549300GNVG5D60KEYN14 | Short            | EC               | CORP              | US        |      -906 | NS      | $-21399.72    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                  | TV Partners III, LLC CL B                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    209841 | NS      | $209841.00    | 0.08%             |  |  |  | No            | 3                  | On Loan: No      |
| Winnebago Industries Inc                             | Winnebago Industries, Inc.                             | CUSIP: 974637100<br>LEI: 549300B7OYKYJLTE3G11 | Long             | EC               | CORP              | US        |     11042 | NS      | $351356.44    | 0.13%             |  |  |  | No            | 1                  | On Loan: No      |
| Core Scientific Inc                                  | Core Scientific, Inc.                                  | CUSIP: 21874A106<br>LEI: 5299003RGB2LAZ65RK73 | Long             | EC               | CORP              | US        |     73266 | NS      | $593454.60    | 0.22%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                              | Recv Jugi Ln Trs:bf7l8p1                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $4812.85      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Plum Acquisition Corp Iv                             | Plum Acquisition Corp. IV                              | CUSIP: G7134A120<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      4175 | NC      | $626.25       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Uber Technologies Inc                                | Uber Technologies, Inc.                                | CUSIP: 90353T100<br>LEI: 549300B2FTG34FILDR98 | Long             | EC               | CORP              | US        |      6162 | NS      | $499183.62    | 0.19%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                              | Worldwide Healthcare Trust PLC TRS                     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $1443616.93   | 0.55%             |  |  |  | No            | 2                  | On Loan: No      |
| Icahn Enterprises/fin                                | Icahn Enterprises LP / Icahn Enterprises Finance Corp. | CUSIP: 451102CC9<br>LEI: 549300T0G4GS0SINS786 | Short            | DBT              | CORP              | US        |   -355000 | PA      | $-296425.00   | -0.11%            | 2029-02-01      | Fixed         | 4.38%                 | No            | 2                  | On Loan: No      |
| N/A                                                  | Forward Contracts: EUR 05/12/2025                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |         1 | NC      | $-16322962.00 | -6.18%            |  |  |  | No            | 2                  | On Loan: No      |
| Gogo Intermediate Holdin                             | Gogo Intermediate Holdings LLC                         | CUSIP: 38046JAB0<br>LEI: 2549003PQSV921SNHM89 | Long             | LON              | CORP              | US        |   2389000 | PA      | $2270290.59   | 0.86%             | 2028-04-28      | Floating      | 8.19%                 | No            | 2                  | On Loan: No      |
| Cbre Group Inc                                       | CBRE Group, Inc.                                       | CUSIP: 12504L109<br>LEI: 52990016II9MJ2OSWA10 | Long             | EC               | CORP              | US        |      2997 | NS      | $366173.46    | 0.14%             |  |  |  | No            | 1                  | On Loan: No      |
| Blade Air Mobility Inc                               | Blade Air Mobility, Inc.                               | CUSIP: 092667104<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -12237 | NS      | $-32428.05    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                              | Bankers Investment Trust PLC TRS                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $4036893.89   | 1.53%             |  |  |  | No            | 2                  | On Loan: No      |
| Nuveen Pennsylvania Quality Municipal Income Fund    | Nuveen Pennsylvania Quality Municipal Income Fund      | CUSIP: 670972108<br>LEI: 5493000C1CS4Q000GF67 | Long             | EC               | RF                | US        |    115188 | NS      | $1301624.40   | 0.49%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                              | Recv Ausc Ln Trs:0295958                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $2764895.57   | 1.05%             |  |  |  | No            | 2                  | On Loan: No      |
| Cpi Property Group Sa                                | CPI Property Group SA                                  | CUSIP: BT3966533<br>LEI: 222100CO2ZOTEPGJO223 | Short            | DBT              | CORP              | LU        |  -1257000 | PA      | $-1180282.46  | -0.45%            | 2030-01-14      | Fixed         | 1.75%                 | No            | 2                  | On Loan: No      |
| Chicago Mercantile Exchange                          | S&P 500 Mini Future                                    | CUSIP: N/A<br>LEI: SNZ2OJLFK8MNNCLQOF39       | N/A              | DE               | CORP              | US        |      -156 | NC      | $-43578600.00 | -16.49%           |  |  |  | No            | 1                  | On Loan: No      |
| Vgi Partners Global Investments Ltd                  | VGI Partners Global Investments, Ltd.                  | CUSIP: Q9395Z108<br>LEI: 549300JHME36HG5U2Y72 | Long             | EC               | CORP              | AU        |    627796 | NS      | $621297.51    | 0.24%             |  |  |  | No            | 1                  | On Loan: No      |
| GDS Holdings Ltd                                     | GDS Holdings, Ltd.                                     | CUSIP: 36165L108<br>LEI: 391200MGV8DDCHTN2R77 | Long             | EC               | CORP              | KY        |     17773 | NS      | $448057.33    | 0.17%             |  |  |  | No            | 1                  | On Loan: No      |
| Abn Amro Euro Sustainable Money Market               | ABN Amro Euro Sustainable Money Market                 | CUSIP: N/A<br>LEI: 969500ZZMMN1N7HTVV44       | Long             | EC               | CORP              | US        |        64 | NS      | $64450.00     | 0.02%             |  |  |  | No            | 3                  | On Loan: No      |
| Blackrock Enhanced Global Dividend Trust             | BlackRock Enhanced Global Dividend Trust               | CUSIP: 092501105<br>LEI: U48QD6ILUF60LKMSND68 | Long             | EC               | RF                | US        |      2153 | NS      | $23123.22     | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                  | TV Partners III, LLC CL A                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    167872 | NS      | $503.62       | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| J.P. Morgan Chase & Co.                              | Recv Basc Ln Trs:0346340                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $769428.27    | 0.29%             |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                              | Recv Biog Ln Trs:0038551                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $29378.86     | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| Capri Holdings Ltd                                   | Capri Holdings, Ltd.                                   | CUSIP: G1890L107<br>LEI: 549300LPG8W0H1OX3A26 | Long             | EC               | CORP              | VG        |     14621 | NS      | $219899.84    | 0.08%             |  |  |  | No            | 1                  | On Loan: No      |
| System1 Inc                                          | System1, Inc.                                          | CUSIP: 87200P109<br>LEI: N/A                  | Short            | EC               | CORP              | KY        |    -40300 | NS      | $-23285.34    | -0.01%            |  |  |  | No            | 1                  | On Loan: No      |
| Staples Inc                                          | Staples, Inc.                                          | CUSIP: 855030AQ5<br>LEI: XQM2JINI1UL7642TU573 | Long             | DBT              | CORP              | US        |   1739000 | PA      | $1517277.50   | 0.57%             | 2029-09-01      | Fixed         | 10.75%                | Yes           | 2                  | On Loan: No      |
| Chicago Mercantile Exchange                          | NASDAQ 100 E-MINI Jun25                                | CUSIP: N/A<br>LEI: SNZ2OJLFK8MNNCLQOF39       | N/A              | DE               | CORP              | US        |       -28 | NC      | $-11008760.00 | -4.17%            |  |  |  | No            | 1                  | On Loan: No      |
| Mfs High Income Municipal Trust                      | MFS High Income Municipal Trust                        | CUSIP: 59318D104<br>LEI: 0G9TCUWY2FBUXSJY2691 | Long             | EC               | RF                | US        |     29418 | NS      | $105022.26    | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| GRAF GLOBAL SPONSOR                                  | GRAF Global Sponsor LCC Class B Warrants               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | KY        |     19276 | NC      | $106.02       | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| STONERIDGE OPPORTUNITIES FUND LLP                    | Stone Ridge Opportunities Fund LLP                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KY        |     24000 | NS      | $29040000.00  | 10.99%            |  |  |  | No            | N/A                | On Loan: No      |
| J.P. Morgan Chase & Co.                              | Smithson Investment Trust PLC TRS                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $7730850.21   | 2.93%             |  |  |  | No            | 2                  | On Loan: No      |
| Keystone Positive Change Investment Trust Plc        | Keystone Positive Change Investment Trust PLC          | CUSIP: G5251R108<br>LEI: 5493002H3JXLXLIGC563 | Long             | EC               | RF                | GB        |     32016 | NS      | $95148.57     | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                              | Recv Phi Ln Trs:0666747                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $97654.46     | 0.04%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                                  | Titan Acquisition Sponsor Holdco, LLC Class B          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     90383 | NS      | $90383.00     | 0.03%             |  |  |  | No            | 3                  | On Loan: No      |
| Vertical Aerospace Ltd                               | Vertical Aerospace, Ltd.                               | CUSIP: G9471C206<br>LEI: 9845002F3CF4E56DA491 | Long             | EC               | CORP              | KY        |    498886 | NS      | $1845878.20   | 0.70%             |  |  |  | No            | 1                  | On Loan: No      |
| Gp-act Iii Acquisition Corp                          | GP-Act III Acquisition Corp.                           | CUSIP: G4035N129<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     23593 | NC      | $4409.53      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Abrdn Healthcare Investors                           | abrdn Healthcare Investors                             | CUSIP: 87911J103<br>LEI: 549300SNASESIFOS6V75 | Long             | EC               | RF                | US        |     19940 | NS      | $323825.60    | 0.12%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                              | Recv Uem Ln Trs:bd45s96                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $384042.11    | 0.15%             |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                              | Recv Smt Ln Trs:bldyk61                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $10627283.62  | 4.02%             |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                              | Blackrock Throgmorton Trust PLC TRS                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $1056368.90   | 0.40%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                                  | Soulpower Acquisition Sponsor LLC Class B              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     15057 | NS      | $150570.00    | 0.06%             |  |  |  | No            | 3                  | On Loan: No      |
| Pengana International Equities Ltd                   | Pengana International Equities, Ltd.                   | CUSIP: Q7377W101<br>LEI: 549300CHRVZUD361YS09 | Long             | EC               | CORP              | AU        |   1664780 | NS      | $1231661.65   | 0.47%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                              | Recv Arr Ln Trs:0063326                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $3119.30      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Blackrock New York Municipal Income Trust            | BlackRock New York Municipal Income Trust              | CUSIP: 09248L106<br>LEI: PJKTUMDJPIZ89SB71052 | Long             | EC               | RF                | US        |     17222 | NS      | $170842.24    | 0.06%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                              | Recv Pcft Ln Trs:b9xqt11                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $2642530.12   | 1.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Intercontinental Exchange                            | CZR CDS USD 12/29 GS                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCR              | CORP              | US        |         1 | NC      | $-78491.98    | -0.03%            |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                              | Recv Bbh Ln Trs:bzcnll9                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $1429896.88   | 0.54%             |  |  |  | No            | 2                  | On Loan: No      |
| Morgan Stanley                                       | Recv Fncl 6 6/24 Tba Cfd                               | CUSIP: TRF060667<br>LEI: N/A                  | N/A              | DCR              | CORP              | US        |         1 | NC      | $177249.75    | 0.07%             |  |  |  | No            | 2                  | On Loan: No      |
| Middlefield Canadian Income Pc                       | Middlefield Canadian Income PC                         | CUSIP: G6072Z105<br>LEI: 2138007ENW3JEJXC8658 | Long             | EC               | CORP              | GB        |    254234 | NS      | $387097.33    | 0.15%             |  |  |  | No            | 1                  | On Loan: No      |
| ALTERNATIVE CAPITAL INVETMTS FUND III LP 2           | ALTERNATIVE CAPITAL INVETMTS FUND III LP 2             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     10595 | NS      | $10595000.50  | 4.01%             |  |  |  | No            | N/A                | On Loan: No      |
| XTEND                                                | XTEND Preferred B-2 Shares                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | IL        |    579633 | NS      | $495841.25    | 0.19%             |  |  |  | No            | 3                  | On Loan: No      |
| Pioneer Municipal High Income Advantage Fund Inc     | Pioneer Municipal High Income Advantage Fund, Inc.     | CUSIP: 723762100<br>LEI: UE8ZNXHQH48NNA19I459 | Long             | EC               | RF                | US        |     39278 | NS      | $320508.48    | 0.12%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                              | AT&T, Inc.                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCR              | CORP              | US        |         1 | NC      | $1791.00      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Dun & Bradstreet Holdings Inc                        | Dun & Bradstreet Holdings, Inc.                        | CUSIP: 26484T106<br>LEI: 254900LNALVKD1ZX7U27 | Short            | EC               | CORP              | US        |   -177016 | NS      | $-1587833.52  | -0.60%            |  |  |  | No            | 1                  | On Loan: No      |
| Digital Asset Acquisition Corp                       | Digital Asset Acquisition Corp.                        | CUSIP: G2868C129<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     36801 | NS      | $376658.24    | 0.14%             |  |  |  | No            | 1                  | On Loan: No      |
| Ellsworth Growth And Income Fund Ltd                 | Ellsworth Growth and Income Fund, Ltd.                 | CUSIP: 289074106<br>LEI: 549300GYFOXHCDQTI772 | Long             | EC               | RF                | US        |      5295 | NS      | $47866.80     | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Us Treasury N/b                                      | U.S. Treasury Note                                     | CUSIP: 91282CMM0<br>LEI: 254900HROIFWPRGM1V77 | Short            | DBT              | UST               | US        | -57876000 | PA      | $-59967221.93 | -22.69%           | 2035-02-15      | Fixed         | 4.62%                 | No            | 1                  | On Loan: No      |
| N/A                                                  | MS.TB BROKER SWEEP                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | RF                | US        |   4710700 | NS      | $4710700.00   | 1.78%             |  |  |  | No            | 1                  | On Loan: No      |
| Iren Ltd                                             | IREN, Ltd.                                             | CUSIP: Q4982L109<br>LEI: 254900FZF02RB3NNGB71 | Long             | EC               | CORP              | AU        |     78097 | NS      | $477172.67    | 0.18%             |  |  |  | No            | 1                  | On Loan: No      |
| Pioneer Municipal High Income Fund Trust             | Pioneer Municipal High Income Fund Trust               | CUSIP: 723763108<br>LEI: 1SKUXW31ZFWF61CETQ82 | Long             | EC               | RF                | US        |     24447 | NS      | $222956.64    | 0.08%             |  |  |  | No            | 1                  | On Loan: No      |
| Star Holdings                                        | Star Holdings                                          | CUSIP: 85512G106<br>LEI: 549300NXTGWF12PTMW64 | Long             | EC               | CORP              | US        |    130599 | NS      | $880237.26    | 0.33%             |  |  |  | No            | 1                  | On Loan: No      |
| K&f Growth Acquisition Corp Ii                       | K&F Growth Acquisition Corp. II                        | CUSIP: G52258129<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      4142 | NC      | $414.20       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| The Options Clearing Corporation                     | Russell 2000 Index/Old-RUT US 05/16/25 C2300           | CUSIP: 47399NMZ9<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |        37 | NC      | $1572.50      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                  | NewHold Investment Corp III Sponsor Shs Class A        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     67027 | NS      | $249.81       | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| J.P. Morgan Chase & Co.                              | Recv Iem Ln Trs:3123249                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $2613578.68   | 0.99%             |  |  |  | No            | 2                  | On Loan: No      |
| Eaton Vance New York Municipal Bond Fund             | Eaton Vance New York Municipal Bond Fund               | CUSIP: 27827Y109<br>LEI: 5493003LD9U89XVQ7W91 | Long             | EC               | RF                | US        |     19040 | NS      | $178214.40    | 0.07%             |  |  |  | No            | 1                  | On Loan: No      |
| BEEHERO LTD                                          | BEEHERO LTD                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | IL        |       178 | NS      | $180310.45    | 0.07%             |  |  |  | No            | 3                  | On Loan: No      |
| N/A                                                  | NewHold Investment Corp III Warrants                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | US        |      4189 | NC      | $0.00         | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| The Options Clearing Corporation                     | Russell 2000 Index/Old-RUT US 05/16/25 C2350           | CUSIP: 47399NRS0<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               | CORP              | US        |        31 | NC      | $7440.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| China Evergrande Group                               | China Evergrande Group                                 | CUSIP: G2119WAC0<br>LEI: 549300CUF7B1LAB15T90 | Long             | DBT              | CORP              | KY        |   4420000 | PA      | $88400.00     | 0.03%             | 2024-03-29      | Fixed         | 9.50%                 | No            | 2                  | On Loan: No      |
| Sable Offshore                                       | Sable Offshore Ord Shs Class A PIPE                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     44801 | NS      | $835986.66    | 0.32%             |  |  |  | No            | 1                  | On Loan: No      |
| Pagseguro Digital Ltd                                | Pagseguro Digital, Ltd.                                | CUSIP: G68707101<br>LEI: 391200VY4YW47I4HGH62 | Long             | EC               | CORP              | KY        |    140185 | NS      | $1406055.55   | 0.53%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                  | Forward Contracts: GBP 07/02/2025                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |         1 | NC      | $-2266131.00  | -0.86%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                                  | Forward Contracts: GBP 05/12/2025                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |         1 | NC      | $-1561902.00  | -0.59%            |  |  |  | No            | 2                  | On Loan: No      |
| GRAF GLOBAL SPONSOR                                  | GRAF Global Sponsor LLC Class A Shares                 | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KY        |     15421 | NS      | $7556.29      | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| J.P. Morgan Chase & Co.                              | Recv Hbmn Sw Trs:b01tcc1                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | CH        |         1 | NC      | $784663.48    | 0.30%             |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                              | Recv Brsc Ln Trs:0643610                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $2574137.21   | 0.97%             |  |  |  | No            | 2                  | On Loan: No      |
| Dynamix Corp                                         | Dynamix Corp.                                          | CUSIP: G2949D112<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      1681 | NC      | $521.11       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                  | Critical Metals Corp. Warrants                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | US        |     38669 | NC      | $0.00         | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Nyli Cbre Global Infrastructure Megatrends Term Fund | NYLI CBRE Global Infrastructure Megatrends Term Fund   | CUSIP: 56064Q107<br>LEI: 549300TWA0SUTWA4FE65 | Long             | EC               | RF                | US        |     60263 | NS      | $804511.05    | 0.30%             |  |  |  | No            | 1                  | On Loan: No      |
| Destra Multi-alternative Fund                        | Destra Multi-Alternative Fund                          | CUSIP: 25065A502<br>LEI: 549300SP0KUS5HR5P569 | Long             | EC               | RF                | US        |      2947 | NS      | $24754.80     | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. Morgan Chase & Co.                              | Monks Investment Trust PLC TRS                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $1833014.74   | 0.69%             |  |  |  | No            | 2                  | On Loan: No      |
| Labl Inc                                             | Multi-Color Corp, Term Loan                            | CUSIP: 50168EAN2<br>LEI: 5493004FUZN8R6Y3VB98 | Long             | LON              | CORP              | US        |   1535166 | PA      | $1329683.83   | 0.50%             | 2028-10-30      | Floating      | 9.43%                 | No            | 2                  | On Loan: No      |
| Alight Inc                                           | Alight, Inc.                                           | CUSIP: 01626W101<br>LEI: 549300600ESCO1HTVN74 | Short            | EC               | CORP              | US        |   -105138 | NS      | $-537255.18   | -0.20%            |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley                                       | Recv Fncl 6/24 Tba Cfd                                 | CUSIP: TRF052664<br>LEI: N/A                  | N/A              | DCR              | CORP              | US        |         1 | NC      | $652841.00    | 0.25%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                                  | Forward Contracts: SEK 05/12/2025                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |         1 | NC      | $-1242293.00  | -0.47%            |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                              | Recv Mct Ln Trs:b15pv03                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $1581001.91   | 0.60%             |  |  |  | No            | 2                  | On Loan: No      |
| Csc Holdings Llc                                     | CSC Holdings LLC                                       | CUSIP: 126307BF3<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    270000 | PA      | $181575.00    | 0.07%             | 2031-02-15      | Fixed         | 3.38%                 | Yes           | 2                  | On Loan: No      |
| Community Health Systems Inc                         | Community Health Systems, Inc.                         | CUSIP: 203668108<br>LEI: 549300BQWM4WENQ3YW73 | Long             | EC               | CORP              | US        |     74136 | NS      | $202391.28    | 0.08%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                                  | Forward Contracts: GBP 05/12/2025                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              | CORP              | N/A       |         1 | NC      | $15964807.00  | 6.04%             |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                              | Recv Vof Ln Trs:byxvt88                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GG        |         1 | NC      | $383122.10    | 0.14%             |  |  |  | No            | 2                  | On Loan: No      |
| J.P. Morgan Chase & Co.                              | Edinburgh Worldwide Investment Trust PLC               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |         1 | NC      | $5122956.03   | 1.94%             |  |  |  | No            | 2                  | On Loan: No      |
| Wolfspeed Inc                                        | Wolfspeed, Inc.                                        | CUSIP: 977852AB8<br>LEI: 549300OGU88P3AW3TO93 | Long             | DBT              | CORP              | US        |   1346000 | PA      | $385161.94    | 0.15%             | 2028-02-15      | Fixed         | 0.25%                 | No            | 2                  | On Loan: No      |

### Signature

**Date Signed:** 2025-05-30

**Name of Applicant:** Saba Capital Income & Opportunities Fund II

**Signature:** Troy Statczar

**Name of Signer:** Troy Statczar

**Title:** Principal Financial Officer