# EDGAR Filing Document

**Accession Number:** 0000225604
**File Stem:** 0002071691-25-009747
**Filing Date:** 2025-12
**Character Count:** 221528
**Document Hash:** d86f29f8e6874cbb5505eee6900eac5f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-25-009747.hdr.sgml**: 20251223

**ACCESSION NUMBER**: 0002071691-25-009747

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 4

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251223

**DATE AS OF CHANGE**: 20251223

**PERIOD START**: 20260131

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MFS SERIES TRUST III
- **CENTRAL INDEX KEY:** 0000225604

**ORGANIZATION NAME:**
- **EIN:** 046414785
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0131

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-02794
- **FILM NUMBER:** 251597555

**BUSINESS ADDRESS:**
- **STREET 1:** 111 HUNTINGTON AVENUE
- **STREET 2:** 21ST FLOOOR
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02199
- **BUSINESS PHONE:** 18006372929

**MAIL ADDRESS:**
- **STREET 1:** 111 HUNTINGTON AVENUE
- **STREET 2:** 21ST FLOOOR
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02199

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MFS SERIES TRUST III /MA
- **DATE OF NAME CHANGE:** 19940411

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MFS HIGH INCOME FUND
- **DATE OF NAME CHANGE:** 19930408

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MASSACHUSETTS FINANCIAL HIGH INCOME TRUST
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### MFS High Income Fund (Series ID: S000002427)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000006471 | A            | MHITX           |
| C000006472 | R4           | MHIJX           |
| C000006476 | B            | MHIBX           |
| C000006477 | C            | MHICX           |
| C000006478 | I            | MHIIX           |
| C000006480 | R1           | MHIGX           |
| C000006482 | R2           | MIHRX           |
| C000006483 | R3           | MHIHX           |
| C000116932 | R6           | MHIKX           |

## Nport-Ex

MFH-Q3

![](imge5d03ca91.gif)

**Quarterly Report**

October 31, 2025

MFS<sup>®</sup> High Income Fund

![](img7cc1e9a72.gif)

------

**Portfolio of Investments**

10/31/25 (unaudited)

The Portfolio of Investments is a complete list of all securities owned by your fund. It is categorized by broad-based asset classes.

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

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Bonds – 94.1%  | Bonds – 94.1%  | Bonds – 94.1%  |
| Aerospace & Defense – 3.0% | Aerospace & Defense – 3.0% | Aerospace & Defense – 3.0% |
| Axon Enterprise, Inc., 6.125%, 3/15/2030 (n) | $6847000 | &nbsp;&nbsp;&nbsp; $7032129 |
| Axon Enterprise, Inc., 6.25%, 3/15/2033 (n) | 2241000 | &nbsp;&nbsp;&nbsp; 2316308 |
| Bombardier, Inc., 7.5%, 2/01/2029 (n) | 1761000 | &nbsp;&nbsp;&nbsp; 1834593 |
| Bombardier, Inc., 8.75%, 11/15/2030 (n) | 1283000 | &nbsp;&nbsp;&nbsp; 1383718 |
| Bombardier, Inc., 7.25%, 7/01/2031 (n) | 3410000 | &nbsp;&nbsp;&nbsp; 3619442 |
| Bombardier, Inc., 7%, 6/01/2032 (n) | 2523000 | &nbsp;&nbsp;&nbsp; 2648875 |
| Bombardier, Inc., 6.75%, 6/15/2033 (n) | 4989000 | &nbsp;&nbsp;&nbsp; 5237193 |
| TransDigm, Inc., 6.75%, 8/15/2028 (n) | 3860000 | &nbsp;&nbsp;&nbsp; 3936146 |
| TransDigm, Inc., 4.625%, 1/15/2029  | 5775000 | &nbsp;&nbsp;&nbsp; 5680279 |
| TransDigm, Inc., 6.375%, 3/01/2029 (n) | 3773000 | &nbsp;&nbsp;&nbsp; 3875569 |
| TransDigm, Inc., 6.875%, 12/15/2030 (n) | 9903000 | &nbsp;&nbsp;&nbsp; 10281424 |
| TransDigm, Inc., 6.375%, 5/31/2033 (n) | 11465000 | &nbsp;&nbsp;&nbsp; 11686642 |
|  |  | &nbsp;&nbsp;&nbsp; $59532318 |
| Asset-Backed & Securitized – 0.0% | Asset-Backed & Securitized – 0.0% | Asset-Backed & Securitized – 0.0% |
| COBALT CMBS Commercial Mortgage Trust, 2006-2A, "F", CDO, FLR, 5.42% ((SOFR - 3mo. + 0.26161%) + 1.3% Cash or <br> PIK) to 4/26/2050 (a)(n)(p)<br>| $976590 | &nbsp;&nbsp;&nbsp; $98 |
| COBALT CMBS Commercial Mortgage Trust, 2006-2A, "G", CDO, FLR, 5.62% ((SOFR - 3mo. + 0.26161%) + 1.5% Cash or <br> PIK) to 4/26/2050 (a)(n)(p)<br>| 3124926 | &nbsp;&nbsp;&nbsp; 312 |
|  |  | &nbsp;&nbsp;&nbsp; $410 |
| Automotive – 3.2% | Automotive – 3.2% | Automotive – 3.2% |
| Allison Transmission, Inc., 3.75%, 1/30/2031 (n) | $10465000 | &nbsp;&nbsp;&nbsp; $9662208 |
| American Axle & Manufacturing, Inc., 6.375%, 10/15/2032 (n) | 2868000 | &nbsp;&nbsp;&nbsp; 2876528 |
| American Axle & Manufacturing, Inc., 7.75%, 10/15/2033 (n) | 5068000 | &nbsp;&nbsp;&nbsp; 5075138 |
| Clarios Global LP/Clarios US Finance Co., 6.75%, 2/15/2030 (n) | 3670000 | &nbsp;&nbsp;&nbsp; 3804616 |
| Clarios Global LP/Clarios US Finance Co., 4.75%, 6/15/2031 (n) | 3196000 | &nbsp;&nbsp;&nbsp; 3757538 |
| Clarios Global LP/Clarios US Finance Co., 6.75%, 9/15/2032 (n) | $1710000 | &nbsp;&nbsp;&nbsp; 1749641 |
| Dealer Tire LLC/DT Issuer LLC, 8%, 2/01/2028 (n) | 5539000 | &nbsp;&nbsp;&nbsp; 5375365 |
| Dornoch Debt Merger Sub, Inc., 6.625%, 10/15/2029 (n) | 6554000 | &nbsp;&nbsp;&nbsp; 5583275 |
| Forvia SE, 6.75%, 9/15/2033 (n) | 4934000 | &nbsp;&nbsp;&nbsp; 5004911 |
| J.B. Poindexter & Co., Inc., 8.75%, 12/15/2031 (n) | 4488000 | &nbsp;&nbsp;&nbsp; 4696521 |
| New Flyer Holdings, Inc., 9.25%, 7/01/2030 (n) | 5162000 | &nbsp;&nbsp;&nbsp; 5496121 |
| Nissan Motor Acceptance Co. LLC, 5.625%, 9/29/2028 (n) | 2852000 | &nbsp;&nbsp;&nbsp; 2849891 |
| Real Hero Merger Sub 2, Inc., 6.25%, 2/01/2029 (n) | 5102000 | &nbsp;&nbsp;&nbsp; 3050945 |
| Wabash National Corp., 4.5%, 10/15/2028 (n) | 6248000 | &nbsp;&nbsp;&nbsp; 5506472 |
|  |  | &nbsp;&nbsp;&nbsp; $64489170 |
| Broadcasting – 2.6% | Broadcasting – 2.6% | Broadcasting – 2.6% |
| Banijay Group S.A.S., 8.125%, 5/01/2029 (n) | $6897000 | &nbsp;&nbsp;&nbsp; $7157983 |
| Dotdash Meredith, Inc., 7.625%, 6/15/2032 (n) | 4594000 | &nbsp;&nbsp;&nbsp; 4130190 |
| Gray Media, Inc., 9.625%, 7/15/2032 (n) | 4529000 | &nbsp;&nbsp;&nbsp; 4551311 |
| Gray Media, Inc., 7.25%, 8/15/2033 (n) | 3425000 | &nbsp;&nbsp;&nbsp; 3353310 |
| Midas OpCo Holdings LLC, 5.625%, 8/15/2029 (n) | 6768000 | &nbsp;&nbsp;&nbsp; 6448463 |
| Scripps Escrow II, Inc., 3.875%, 1/15/2029 (n) | 4066000 | &nbsp;&nbsp;&nbsp; 3676381 |
| Sinclair Television Group, Inc., 8.125%, 2/15/2033 (n) | 6125000 | &nbsp;&nbsp;&nbsp; 6241926 |
| Univision Communications, Inc., 8%, 8/15/2028 (n) | 3409000 | &nbsp;&nbsp;&nbsp; 3509375 |
| Univision Communications, Inc., 8.5%, 7/31/2031 (n) | 6527000 | &nbsp;&nbsp;&nbsp; 6675848 |
| Versant Media Group, Inc., 7.25%, 1/30/2031 (n) | 2290000 | &nbsp;&nbsp;&nbsp; 2334259 |
| WarnerMedia Holdings, Inc., 5.05%, 3/15/2042  | 3947000 | &nbsp;&nbsp;&nbsp; 3168375 |
|  |  | &nbsp;&nbsp;&nbsp; $51247421 |
| Brokerage & Asset Managers – 1.7% | Brokerage & Asset Managers – 1.7% | Brokerage & Asset Managers – 1.7% |
| Aretec Escrow Issuer 2, Inc., 10%, 8/15/2030 (n) | $4558000 | &nbsp;&nbsp;&nbsp; $4959346 |
| Aretec Escrow Issuer, Inc., 7.5%, 4/01/2029 (n) | 1589000 | &nbsp;&nbsp;&nbsp; 1602050 |
| Hightower Holding LLC, 6.75%, 4/15/2029 (n) | 4310000 | &nbsp;&nbsp;&nbsp; 4314564 |

---

------

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Bonds – continued  | Bonds – continued  | Bonds – continued  |
| Brokerage & Asset Managers – continued | Brokerage & Asset Managers – continued | Brokerage & Asset Managers – continued |
| Hightower Holding LLC, 9.125%, 1/31/2030 (n) | $2614000 | &nbsp;&nbsp;&nbsp; $2801819 |
| Jane Street Group/JSG Finance, Inc., 6.125%, 11/01/2032 (n) | 13729000 | &nbsp;&nbsp;&nbsp; 13970301 |
| Osaic Holdings, Inc., 6.75%, 8/01/2032 (n) | 1064000 | &nbsp;&nbsp;&nbsp; 1099214 |
| Osaic Holdings, Inc., 8%, 8/01/2033 (n) | 5515000 | &nbsp;&nbsp;&nbsp; 5658070 |
|  |  | &nbsp;&nbsp;&nbsp; $34405364 |
| Building – 3.7% | Building – 3.7% | Building – 3.7% |
| AmeriTex Holdco Intermediate LLC, 7.625%, 8/15/2033 (n) | $6163000 | &nbsp;&nbsp;&nbsp; $6446970 |
| Builders FirstSource, Inc., 6.75%, 5/15/2035 (n) | 3474000 | &nbsp;&nbsp;&nbsp; 3647533 |
| Cornerstone Building Brands, Inc., 6.125%, 1/15/2029 (n) | 4999000 | &nbsp;&nbsp;&nbsp; 3799806 |
| Cornerstone Building Brands, Inc., 9.5%, 8/15/2029 (n) | 2822000 | &nbsp;&nbsp;&nbsp; 2603924 |
| Knife River Corp., 7.75%, 5/01/2031 (n) | 4950000 | &nbsp;&nbsp;&nbsp; 5185462 |
| LBM Acquisition LLC, 6.25%, 1/15/2029 (n) | 3401000 | &nbsp;&nbsp;&nbsp; 3102155 |
| LBM Acquisition LLC, 9.5%, 6/15/2031 (n) | 5141000 | &nbsp;&nbsp;&nbsp; 5378771 |
| Miter Brands Acquisition Holdco, Inc., 6.75%, 4/01/2032 (n) | 1873000 | &nbsp;&nbsp;&nbsp; 1922545 |
| MIWD Holdco II LLC/MIWD Finance Co., 5.5%, 2/01/2030 (n) | 5673000 | &nbsp;&nbsp;&nbsp; 5504506 |
| New Enterprise Stone & Lime Co., Inc., 9.75%, 7/15/2028 (n) | 2209000 | &nbsp;&nbsp;&nbsp; 2209521 |
| Patrick Industries, Inc., 6.375%, 11/01/2032 (n) | 8637000 | &nbsp;&nbsp;&nbsp; 8806259 |
| Quikrete Holdings, Inc., 6.375%, 3/01/2032 (n) | 11437000 | &nbsp;&nbsp;&nbsp; 11862594 |
| White Cap Buyer LLC, 6.875%, 10/15/2028 (n) | 7664000 | &nbsp;&nbsp;&nbsp; 7664075 |
| White Cap Supply Holding Co., 7.375%, 11/15/2030 (n)(w) | 5648000 | &nbsp;&nbsp;&nbsp; 5713248 |
|  |  | &nbsp;&nbsp;&nbsp; $73847369 |
| Business Services – 2.8% | Business Services – 2.8% | Business Services – 2.8% |
| ams-OSRAM AG, 10.5%, 3/30/2029  | 3071000 | &nbsp;&nbsp;&nbsp; $3776997 |
| athenahealth, Inc., 6.5%, 2/15/2030 (n) | $6329000 | &nbsp;&nbsp;&nbsp; 6195859 |
| CACI International, Inc., 6.375%, 6/15/2033 (n) | 6950000 | &nbsp;&nbsp;&nbsp; 7226054 |
| ION Platform Finance US, Inc., 7.875%, 9/30/2032 (n) | 5651000 | &nbsp;&nbsp;&nbsp; 5511814 |
| Iron Mountain, Inc., 5.25%, 3/15/2028 (n) | 5087000 | &nbsp;&nbsp;&nbsp; 5084352 |
| Iron Mountain, Inc., 5.625%, 7/15/2032 (n) | 7168000 | &nbsp;&nbsp;&nbsp; 7165451 |
| Iron Mountain, Inc., 6.25%, 1/15/2033 (n) | 5862000 | &nbsp;&nbsp;&nbsp; 5995226 |
| Shift4 Payments LLC/Shift4 Payments Finance Sub, Inc., 6.75%, 8/15/2032 (n) | 6612000 | &nbsp;&nbsp;&nbsp; 6829094 |
| Wulf Compute LLC, 7.75%, 10/15/2030 (n) | 8475000 | &nbsp;&nbsp;&nbsp; 8804465 |
|  |  | &nbsp;&nbsp;&nbsp; $56589312 |
| Cable TV – 4.2% | Cable TV – 4.2% | Cable TV – 4.2% |
| Cable One, Inc., 4%, 11/15/2030 (n) | $4589000 | &nbsp;&nbsp;&nbsp; $3625357 |
| CCO Holdings LLC/CCO Holdings Capital Corp., 4.75%, 3/01/2030 (n) | 19738000 | &nbsp;&nbsp;&nbsp; 18768175 |
| CCO Holdings LLC/CCO Holdings Capital Corp., 4.5%, 8/15/2030 (n) | 12408000 | &nbsp;&nbsp;&nbsp; 11631435 |
| CSC Holdings LLC, 5.375%, 2/01/2028 (n) | 7540000 | &nbsp;&nbsp;&nbsp; 6252714 |
| CSC Holdings LLC, 5.75%, 1/15/2030 (n) | 4090000 | &nbsp;&nbsp;&nbsp; 1532670 |
| CSC Holdings LLC, 4.125%, 12/01/2030 (n) | 3025000 | &nbsp;&nbsp;&nbsp; 1860711 |
| DIRECTV Financing LLC, 8.875%, 2/01/2030 (n) | 2447000 | &nbsp;&nbsp;&nbsp; 2432668 |
| DIRECTV Holdings LLC/DIRECTV Financing Co., Inc., 10%, 2/15/2031 (n) | 1773000 | &nbsp;&nbsp;&nbsp; 1765701 |
| DISH DBS Corp., 5.125%, 6/01/2029  | 5857000 | &nbsp;&nbsp;&nbsp; 5056212 |
| DISH Network Corp., 11.75%, 11/15/2027 (n) | 4823000 | &nbsp;&nbsp;&nbsp; 5077573 |
| EchoStar Corp., 10.75%, 11/30/2029  | 6077534 | &nbsp;&nbsp;&nbsp; 6690602 |
| EchoStar Corp., 6.75% (6.75% Cash or 6.75% PIK) to 5/30/2027, 6.75% Cash to 11/30/2030 (p) | 5122755 | &nbsp;&nbsp;&nbsp; 5286222 |
| Virgin Media Finance PLC, 5%, 7/15/2030 (n) | 5484000 | &nbsp;&nbsp;&nbsp; 4894877 |
| Ziggo Bond Finance B.V., 5.125%, 2/28/2030 (n) | 10139000 | &nbsp;&nbsp;&nbsp; 8971782 |
|  |  | &nbsp;&nbsp;&nbsp; $83846699 |
| Chemicals – 2.7% | Chemicals – 2.7% | Chemicals – 2.7% |
| Cerdia Finanz GmbH, 9.375%, 10/03/2031 (n) | $6331000 | &nbsp;&nbsp;&nbsp; $6595722 |
| Chemours Co., 4.625%, 11/15/2029 (n) | 7497000 | &nbsp;&nbsp;&nbsp; 6578699 |
| Consolidated Energy Finance S.A., 6.5%, 5/15/2026 (n) | 1100000 | &nbsp;&nbsp;&nbsp; 1053739 |
| Consolidated Energy Finance S.A., 5.625%, 10/15/2028 (n) | 7571000 | &nbsp;&nbsp;&nbsp; 5141315 |
| Maxam Prill S.à r.l., 6%, 7/15/2030 (n) | 5940000 | &nbsp;&nbsp;&nbsp; 6964236 |
| Qnity Electronics, Inc., 5.75%, 8/15/2032 (n) | $5099000 | &nbsp;&nbsp;&nbsp; 5188911 |

---

------

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Bonds – continued  | Bonds – continued  | Bonds – continued  |
| Chemicals – continued | Chemicals – continued | Chemicals – continued |
| Qnity Electronics, Inc., 6.25%, 8/15/2033 (n) | $2246000 | &nbsp;&nbsp;&nbsp; $2306550 |
| SCIH Salt Holdings, Inc., 6.625%, 5/01/2029 (n) | 8144000 | &nbsp;&nbsp;&nbsp; 8072221 |
| SNF Group SACA, 3.375%, 3/15/2030 (n) | 8369000 | &nbsp;&nbsp;&nbsp; 7741159 |
| Tronox, Inc., 4.625%, 3/15/2029 (n) | 1689000 | &nbsp;&nbsp;&nbsp; 1038360 |
| Tronox, Inc., 9.125%, 9/30/2030 (n) | 2273000 | &nbsp;&nbsp;&nbsp; 2074010 |
|  |  | &nbsp;&nbsp;&nbsp; $52754922 |
| Computer Software – 1.9% | Computer Software – 1.9% | Computer Software – 1.9% |
| Amentum Escrow Corp., 7.25%, 8/01/2032 (n) | $7636000 | &nbsp;&nbsp;&nbsp; $7946823 |
| Cloud Software Group, Inc., 9%, 9/30/2029 (n) | 1668000 | &nbsp;&nbsp;&nbsp; 1725279 |
| Cloud Software Group, Inc., 8.25%, 6/30/2032 (n) | 7417000 | &nbsp;&nbsp;&nbsp; 7793888 |
| Cloud Software Group, Inc., 6.625%, 8/15/2033 (n) | 4626000 | &nbsp;&nbsp;&nbsp; 4636598 |
| Fair Isaac Corp., 6%, 5/15/2033 (n) | 8268000 | &nbsp;&nbsp;&nbsp; 8415964 |
| Neptune Bidco U.S., Inc., 9.29%, 4/15/2029 (n) | 7025000 | &nbsp;&nbsp;&nbsp; 6937188 |
|  |  | &nbsp;&nbsp;&nbsp; $37455740 |
| Computer Software - Systems – 1.2% | Computer Software - Systems – 1.2% | Computer Software - Systems – 1.2% |
| Sabre GLBL, Inc., 10.75%, 11/15/2029 (n) | $2100000 | &nbsp;&nbsp;&nbsp; $1995000 |
| Sabre GLBL, Inc., 11.125%, 7/15/2030 (n) | 1703000 | &nbsp;&nbsp;&nbsp; 1609335 |
| SS&C Technologies Holdings, Inc., 5.5%, 9/30/2027 (n) | 6953000 | &nbsp;&nbsp;&nbsp; 6956908 |
| SS&C Technologies Holdings, Inc., 6.5%, 6/01/2032 (n) | 2203000 | &nbsp;&nbsp;&nbsp; 2283921 |
| Virtusa Corp., 7.125%, 12/15/2028 (n) | 3828000 | &nbsp;&nbsp;&nbsp; 3672336 |
| Zebra Technologies Corp., "A", 6.5%, 6/01/2032 (n) | 7174000 | &nbsp;&nbsp;&nbsp; 7434789 |
|  |  | &nbsp;&nbsp;&nbsp; $23952289 |
| Conglomerates – 1.5% | Conglomerates – 1.5% | Conglomerates – 1.5% |
| Amsted Industries, Inc., 6.375%, 3/15/2033 (n) | $4473000 | &nbsp;&nbsp;&nbsp; $4629264 |
| Emerald Debt Merger, 6.625%, 12/15/2030 (n) | 6226000 | &nbsp;&nbsp;&nbsp; 6400521 |
| Gates Corp., 6.875%, 7/01/2029 (n) | 4572000 | &nbsp;&nbsp;&nbsp; 4746696 |
| Husky Injection Molding Systems Ltd., 9%, 2/15/2029 (n) | 5855000 | &nbsp;&nbsp;&nbsp; 6049041 |
| SPX Flow, Inc., 8.75%, 4/01/2030 (n) | 7002000 | &nbsp;&nbsp;&nbsp; 7165084 |
|  |  | &nbsp;&nbsp;&nbsp; $28990606 |
| Construction – 1.1% | Construction – 1.1% | Construction – 1.1% |
| Empire Communities Corp., 9.75%, 5/01/2029 (n) | $6712000 | &nbsp;&nbsp;&nbsp; $6863153 |
| Mattamy Group Corp., 5.25%, 12/15/2027 (n) | 2226000 | &nbsp;&nbsp;&nbsp; 2217348 |
| Mattamy Group Corp., 4.625%, 3/01/2030 (n) | 3689000 | &nbsp;&nbsp;&nbsp; 3578508 |
| New Home Co., 8.5%, 11/01/2030 (n) | 4677000 | &nbsp;&nbsp;&nbsp; 4839844 |
| Weekley Homes LLC/Weekley Finance Corp., 4.875%, 9/15/2028 (n) | 4879000 | &nbsp;&nbsp;&nbsp; 4765109 |
|  |  | &nbsp;&nbsp;&nbsp; $22263962 |
| Consumer Products – 3.2% | Consumer Products – 3.2% | Consumer Products – 3.2% |
| Acushnet Co., 7.375%, 10/15/2028 (n) | $5636000 | &nbsp;&nbsp;&nbsp; $5846817 |
| Amer Sports Co., 6.75%, 2/16/2031 (n) | 5524000 | &nbsp;&nbsp;&nbsp; 5750219 |
| CD&R Smokey Buyer, Inc./Radio Systems Corp., 9.5%, 10/15/2029 (n) | 5136000 | &nbsp;&nbsp;&nbsp; 3594845 |
| Champ Acquisition Corp., 8.375%, 12/01/2031 (n) | 5315000 | &nbsp;&nbsp;&nbsp; 5660858 |
| Energizer Holdings, Inc., 4.375%, 3/31/2029 (n) | 4566000 | &nbsp;&nbsp;&nbsp; 4382542 |
| Energizer Holdings, Inc., 6%, 9/15/2033 (n) | 3452000 | &nbsp;&nbsp;&nbsp; 3334811 |
| MajorDrive Holdings IV LLC, 6.375%, 6/01/2029 (n) | 2506000 | &nbsp;&nbsp;&nbsp; 1957563 |
| Newell Brands, Inc., 6.375%, 5/15/2030  | 6250000 | &nbsp;&nbsp;&nbsp; 5937500 |
| Newell Brands, Inc., 6.625%, 5/15/2032  | 3575000 | &nbsp;&nbsp;&nbsp; 3360500 |
| Opal Bidco S.A.S., 5.5%, 3/31/2032 (n) | 2694000 | &nbsp;&nbsp;&nbsp; 3222281 |
| Opal Bidco S.A.S., 6.5%, 3/31/2032 (n) | $2928000 | &nbsp;&nbsp;&nbsp; 3015690 |
| Perrigo Finance Unlimited Co., 6.125%, 9/30/2032  | 7925000 | &nbsp;&nbsp;&nbsp; 7991895 |
| Prestige Consumer Healthcare, Inc., 5.125%, 1/15/2028 (n) | 4937000 | &nbsp;&nbsp;&nbsp; 4921500 |
| Prestige Consumer Healthcare, Inc., 3.75%, 4/01/2031 (n) | 5568000 | &nbsp;&nbsp;&nbsp; 5165576 |
|  |  | &nbsp;&nbsp;&nbsp; $64142597 |

---

------

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Bonds – continued  | Bonds – continued  | Bonds – continued  |
| Consumer Services – 2.8% | Consumer Services – 2.8% | Consumer Services – 2.8% |
| Allied Universal Holdco LLC, 6.875%, 6/15/2030 (n) | $2840000 | &nbsp;&nbsp;&nbsp; $2913548 |
| Allied Universal Holdco LLC, 7.875%, 2/15/2031 (n) | 5461000 | &nbsp;&nbsp;&nbsp; 5686080 |
| Anywhere Real Estate Group LLC/Realogy Co-Issuer Corp., 9.75%, 4/15/2030 (n) | 2220000 | &nbsp;&nbsp;&nbsp; 2417260 |
| Arches Buyer, Inc., 6.125%, 12/01/2028 (n) | 6936000 | &nbsp;&nbsp;&nbsp; 6757685 |
| Garda World Security Corp., 8.375%, 11/15/2032 (n) | 6936000 | &nbsp;&nbsp;&nbsp; 7057234 |
| Raven Acquisition Holdings LLC, 6.875%, 11/15/2031 (n) | 7408000 | &nbsp;&nbsp;&nbsp; 7570087 |
| Realogy Group LLC/Realogy Co-Issuer Corp., 5.25%, 4/15/2030 (n) | 4757000 | &nbsp;&nbsp;&nbsp; 4379035 |
| Service Corp. International, 5.75%, 10/15/2032  | 11391000 | &nbsp;&nbsp;&nbsp; 11556773 |
| TriNet Group, Inc., 3.5%, 3/01/2029 (n) | 5130000 | &nbsp;&nbsp;&nbsp; 4817475 |
| TriNet Group, Inc., 7.125%, 8/15/2031 (n) | 2320000 | &nbsp;&nbsp;&nbsp; 2407111 |
|  |  | &nbsp;&nbsp;&nbsp; $55562288 |
| Containers – 0.9% | Containers – 0.9% | Containers – 0.9% |
| Ball Corp., 6%, 6/15/2029  | $4589000 | &nbsp;&nbsp;&nbsp; $4701220 |
| Ball Corp., 2.875%, 8/15/2030  | 8993000 | &nbsp;&nbsp;&nbsp; 8222263 |
| Clydesdale Acquisition Holdings, Inc., 8.75%, 4/15/2030 (n) | 5378000 | &nbsp;&nbsp;&nbsp; 5388998 |
|  |  | &nbsp;&nbsp;&nbsp; $18312481 |
| Electronics – 0.2% | Electronics – 0.2% | Electronics – 0.2% |
| Diebold Nixdorf, Inc., 7.75%, 3/31/2030 (n)  | $4712000 | &nbsp;&nbsp;&nbsp; $4989787 |
| Energy - Independent – 4.1% | Energy - Independent – 4.1% | Energy - Independent – 4.1% |
| Baytex Energy Corp., 8.5%, 4/30/2030 (n) | $5086000 | &nbsp;&nbsp;&nbsp; $5213889 |
| Chord Energy Corp., 6%, 10/01/2030 (n) | 1716000 | &nbsp;&nbsp;&nbsp; 1720084 |
| Chord Energy Corp., 6.75%, 3/15/2033 (n) | 6003000 | &nbsp;&nbsp;&nbsp; 6130144 |
| Civitas Resources, Inc., 8.375%, 7/01/2028 (n) | 1288000 | &nbsp;&nbsp;&nbsp; 1330805 |
| Civitas Resources, Inc., 8.625%, 11/01/2030 (n) | 1795000 | &nbsp;&nbsp;&nbsp; 1855748 |
| Civitas Resources, Inc., 8.75%, 7/01/2031 (n) | 5187000 | &nbsp;&nbsp;&nbsp; 5332519 |
| CNX Resources Corp., 7.25%, 3/01/2032 (n) | 5827000 | &nbsp;&nbsp;&nbsp; 6075492 |
| Comstock Resources, Inc., 6.75%, 3/01/2029 (n) | 8930000 | &nbsp;&nbsp;&nbsp; 8852664 |
| Gulfport Energy Corp., 6.75%, 9/01/2029 (n) | 7257000 | &nbsp;&nbsp;&nbsp; 7409515 |
| Kraken Oil & Gas Partners LLC, 7.625%, 8/15/2029 (n) | 3952000 | &nbsp;&nbsp;&nbsp; 3869251 |
| Magnolia Oil & Gas Operating LLC/Magnolia Oil & Gas Finance Corp., 6.875%, 12/01/2032 (n) | 7546000 | &nbsp;&nbsp;&nbsp; 7650927 |
| Matador Resources Co., 6.875%, 4/15/2028 (n) | 4209000 | &nbsp;&nbsp;&nbsp; 4289194 |
| Matador Resources Co., 6.5%, 4/15/2032 (n) | 2537000 | &nbsp;&nbsp;&nbsp; 2560378 |
| Permian Resources Operating LLC, 5.875%, 7/01/2029 (n) | 4653000 | &nbsp;&nbsp;&nbsp; 4657067 |
| Permian Resources Operating LLC, 7%, 1/15/2032 (n) | 3801000 | &nbsp;&nbsp;&nbsp; 3943359 |
| Permian Resources Operating LLC, 6.25%, 2/01/2033 (n) | 1922000 | &nbsp;&nbsp;&nbsp; 1955502 |
| Vital Energy, Inc., 7.875%, 4/15/2032 (n) | 4442000 | &nbsp;&nbsp;&nbsp; 4203722 |
| Wildfire Intermediate Holdings LLC, 7.5%, 10/15/2029 (n) | 4549000 | &nbsp;&nbsp;&nbsp; 4539711 |
|  |  | &nbsp;&nbsp;&nbsp; $81589971 |
| Entertainment – 2.6% | Entertainment – 2.6% | Entertainment – 2.6% |
| Kingpin Intermediate Holdings LLC, 7.25%, 10/15/2032 (n) | $5706000 | &nbsp;&nbsp;&nbsp; $5348600 |
| Life Time, Inc., 6%, 11/15/2031 (n) | 7182000 | &nbsp;&nbsp;&nbsp; 7282907 |
| Lindblad Expeditions Holdings, Inc., 7%, 9/15/2030 (n) | 5054000 | &nbsp;&nbsp;&nbsp; 5147360 |
| NCL Corp. Ltd., 6.25%, 3/01/2030 (n) | 7212000 | &nbsp;&nbsp;&nbsp; 7326260 |
| NCL Corp. Ltd., 6.75%, 2/01/2032 (n) | 3947000 | &nbsp;&nbsp;&nbsp; 4055783 |
| Six Flags Entertainment Corp., 6.625%, 5/01/2032 (n) | 9457000 | &nbsp;&nbsp;&nbsp; 9602837 |
| Viking Cruises Ltd. Co., 5.875%, 10/15/2033 (n) | 4569000 | &nbsp;&nbsp;&nbsp; 4644693 |
| Viking Ocean Cruises Ship VII Ltd., 5.625%, 2/15/2029 (n) | 7423000 | &nbsp;&nbsp;&nbsp; 7415688 |
|  |  | &nbsp;&nbsp;&nbsp; $50824128 |
| Financial Institutions – 7.2% | Financial Institutions – 7.2% | Financial Institutions – 7.2% |
| Avation Capital S.A., 8.25% (8.25% Cash or 9% PIK), 10/31/2026 (n)(p) | $6915454 | &nbsp;&nbsp;&nbsp; $6917508 |
| Azorra Finance Ltd., 7.75%, 4/15/2030 (n) | 8777000 | &nbsp;&nbsp;&nbsp; 9253345 |
| Azorra Finance Ltd., 7.25%, 1/15/2031 (n) | 2338000 | &nbsp;&nbsp;&nbsp; 2445462 |
| Bread Financial Holdings, Inc., 6.75%, 5/15/2031 (n)(w) | 5655000 | &nbsp;&nbsp;&nbsp; 5693692 |
| Credit Acceptance Corp., 9.25%, 12/15/2028 (n) | 2721000 | &nbsp;&nbsp;&nbsp; 2853545 |

---

------

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Bonds – continued  | Bonds – continued  | Bonds – continued  |
| Financial Institutions – continued | Financial Institutions – continued | Financial Institutions – continued |
| Credit Acceptance Corp., 6.625%, 3/15/2030 (n) | $4810000 | &nbsp;&nbsp;&nbsp; $4807691 |
| CrossCountry Intermediate HoldCo LLC, 6.5%, 10/01/2030 (n) | 3941000 | &nbsp;&nbsp;&nbsp; 3977352 |
| Freedom Mortgage Holdings LLC, 9.25%, 2/01/2029 (n) | 5333000 | &nbsp;&nbsp;&nbsp; 5599650 |
| Freedom Mortgage Holdings LLC, 9.125%, 5/15/2031 (n) | 2228000 | &nbsp;&nbsp;&nbsp; 2368422 |
| FTAI Aviation Ltd., 5.5%, 5/01/2028 (n) | 6782000 | &nbsp;&nbsp;&nbsp; 6787012 |
| FTAI Aviation Ltd., 7.875%, 12/01/2030 (n) | 4279000 | &nbsp;&nbsp;&nbsp; 4547460 |
| Global Aircraft Leasing Co. Ltd., 8.75%, 9/01/2027 (n) | 5606000 | &nbsp;&nbsp;&nbsp; 5771601 |
| goeasy Ltd., 6.875%, 2/15/2031 (n) | 2815000 | &nbsp;&nbsp;&nbsp; 2750934 |
| Icahn Enterprises LP/Icahn Enterprises Finance Corp., 9.75%, 1/15/2029  | 5498000 | &nbsp;&nbsp;&nbsp; 5517518 |
| Icahn Enterprises LP/Ichan Enterprises Finance Corp., 10%, 11/15/2029 (n) | 2423000 | &nbsp;&nbsp;&nbsp; 2431876 |
| Jefferson Capital Holdings LLC, 8.25%, 5/15/2030 (n) | 6914000 | &nbsp;&nbsp;&nbsp; 7168096 |
| LFS TopCo LLC, 8.75%, 7/15/2030 (n) | 5639000 | &nbsp;&nbsp;&nbsp; 5519908 |
| OneMain Finance Corp., 6.625%, 5/15/2029  | 5494000 | &nbsp;&nbsp;&nbsp; 5649799 |
| OneMain Finance Corp., 5.375%, 11/15/2029  | 5093000 | &nbsp;&nbsp;&nbsp; 5052668 |
| OneMain Finance Corp., 7.5%, 5/15/2031  | 3459000 | &nbsp;&nbsp;&nbsp; 3613036 |
| PennyMac Financial Services, Inc., 6.875%, 2/15/2033 (n) | 13383000 | &nbsp;&nbsp;&nbsp; 13843877 |
| Phoenix Aviation Capital, 9.25%, 7/15/2030 (n) | 3945000 | &nbsp;&nbsp;&nbsp; 4155868 |
| Rocket Cos., Inc., 6.5%, 8/01/2029 (n) | 4801000 | &nbsp;&nbsp;&nbsp; 4979762 |
| Rocket Cos., Inc., 6.125%, 8/01/2030 (n) | 3850000 | &nbsp;&nbsp;&nbsp; 3971287 |
| Rocket Cos., Inc., 6.375%, 8/01/2033 (n) | 5170000 | &nbsp;&nbsp;&nbsp; 5385744 |
| Rocket Cos., Inc., 4%, 10/15/2033 (n) | 1816000 | &nbsp;&nbsp;&nbsp; 1672334 |
| TrueNoord Capital DAC, 8.75%, 3/01/2030 (n) | 4505000 | &nbsp;&nbsp;&nbsp; 4746099 |
| Walker & Dunlop, Inc., 6.625%, 4/01/2033 (n) | 5187000 | &nbsp;&nbsp;&nbsp; 5308132 |
|  |  | &nbsp;&nbsp;&nbsp; $142789678 |
| Food & Beverages – 2.8% | Food & Beverages – 2.8% | Food & Beverages – 2.8% |
| Fiesta Purchaser, Inc., 7.875%, 3/01/2031 (n) | $3187000 | &nbsp;&nbsp;&nbsp; $3363796 |
| Fiesta Purchaser, Inc., 9.625%, 9/15/2032 (n) | 3704000 | &nbsp;&nbsp;&nbsp; 3985758 |
| Performance Food Group Co., 5.5%, 10/15/2027 (n) | 5184000 | &nbsp;&nbsp;&nbsp; 5185109 |
| Performance Food Group Co., 6.125%, 9/15/2032 (n) | 3848000 | &nbsp;&nbsp;&nbsp; 3950734 |
| Post Holdings, Inc., 4.625%, 4/15/2030 (n) | 10094000 | &nbsp;&nbsp;&nbsp; 9786563 |
| Post Holdings, Inc., 6.25%, 10/15/2034 (n) | 4837000 | &nbsp;&nbsp;&nbsp; 4893656 |
| Primo Water Holdings, Inc./Triton Water Holdings, 4.375%, 4/30/2029 (n) | 8359000 | &nbsp;&nbsp;&nbsp; 8129037 |
| U.S. Foods Holding Corp., 4.75%, 2/15/2029 (n) | 9515000 | &nbsp;&nbsp;&nbsp; 9409738 |
| U.S. Foods Holding Corp., 5.75%, 4/15/2033 (n) | 2691000 | &nbsp;&nbsp;&nbsp; 2726429 |
| Viking Baked Goods Acquisition Corp., 8.625%, 11/01/2031 (n) | 4792000 | &nbsp;&nbsp;&nbsp; 4808125 |
|  |  | &nbsp;&nbsp;&nbsp; $56238945 |
| Forest & Paper Products – 0.3% | Forest & Paper Products – 0.3% | Forest & Paper Products – 0.3% |
| Veritiv Operating Co., 10.5%, 11/30/2030 (n)  | $5369000 | &nbsp;&nbsp;&nbsp; $5587400 |
| Gaming & Lodging – 3.2% | Gaming & Lodging – 3.2% | Gaming & Lodging – 3.2% |
| CDI Escrow Issuer, Inc., 5.75%, 4/01/2030 (n) | $12584000 | &nbsp;&nbsp;&nbsp; $12622683 |
| Hilton Domestic Operating Co., Inc., 4.875%, 1/15/2030  | 11580000 | &nbsp;&nbsp;&nbsp; 11563276 |
| Hilton Domestic Operating Co., Inc., 3.625%, 2/15/2032 (n) | 6399000 | &nbsp;&nbsp;&nbsp; 5895197 |
| Hilton Domestic Operating Co., Inc., 5.875%, 3/15/2033 (n) | 2980000 | &nbsp;&nbsp;&nbsp; 3054586 |
| Rivers Enterprise Lender LLC, 6.25%, 10/15/2030 (n) | 4503000 | &nbsp;&nbsp;&nbsp; 4539702 |
| Wyndham Hotels & Resorts, Inc., 4.375%, 8/15/2028 (n) | 7849000 | &nbsp;&nbsp;&nbsp; 7714857 |
| Wynn Macau Ltd., 5.625%, 8/26/2028 (n) | 7594000 | &nbsp;&nbsp;&nbsp; 7586663 |
| Wynn Macau Ltd., 6.75%, 2/15/2034 (n) | 2482000 | &nbsp;&nbsp;&nbsp; 2501156 |
| Wynn Resorts Finance LLC/Wynn Resorts Capital Corp., 5.125%, 10/01/2029 (n) | 5909000 | &nbsp;&nbsp;&nbsp; 5907345 |
| Wynn Resorts Finance LLC/Wynn Resorts Capital Corp., 7.125%, 2/15/2031 (n) | 1693000 | &nbsp;&nbsp;&nbsp; 1818067 |
|  |  | &nbsp;&nbsp;&nbsp; $63203532 |
| Industrial – 1.2% | Industrial – 1.2% | Industrial – 1.2% |
| AECOM, 6%, 8/01/2033 (n) | $8511000 | &nbsp;&nbsp;&nbsp; $8734499 |
| APi Escrow Corp., 4.75%, 10/15/2029 (n) | 10453000 | &nbsp;&nbsp;&nbsp; 10242607 |
| Brundage-Bone Concrete Pumping Holdings, Inc., 7.5%, 2/01/2032 (n) | 4666000 | &nbsp;&nbsp;&nbsp; 4707747 |
|  |  | &nbsp;&nbsp;&nbsp; $23684853 |

---

------

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Bonds – continued  | Bonds – continued  | Bonds – continued  |
| Insurance - Property & Casualty – 3.4% | Insurance - Property & Casualty – 3.4% | Insurance - Property & Casualty – 3.4% |
| Acrisure LLC/Acrisure Finance, Inc., 6%, 8/01/2029 (n) | $1423000 | &nbsp;&nbsp;&nbsp; $1408789 |
| Acrisure LLC/Acrisure Finance, Inc., 7.5%, 11/06/2030 (n) | 1832000 | &nbsp;&nbsp;&nbsp; 1894797 |
| Acrisure LLC/Acrisure Finance, Inc., 6.75%, 7/01/2032 (n) | 7685000 | &nbsp;&nbsp;&nbsp; 7881429 |
| Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer, 5.875%, 11/01/2029 (n) | 3110000 | &nbsp;&nbsp;&nbsp; 3101380 |
| Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer, 7%, 1/15/2031 (n) | 4848000 | &nbsp;&nbsp;&nbsp; 5021306 |
| Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer, 6.5%, 10/01/2031 (n) | 4605000 | &nbsp;&nbsp;&nbsp; 4722368 |
| AmWINS Group Benefits, Inc., 6.375%, 2/15/2029 (n) | 2925000 | &nbsp;&nbsp;&nbsp; 2981566 |
| AmWINS Group Benefits, Inc., 4.875%, 6/30/2029 (n) | 2273000 | &nbsp;&nbsp;&nbsp; 2195244 |
| Amynta Agency Borrower, Inc., 7.5%, 7/15/2033 (n) | 5627000 | &nbsp;&nbsp;&nbsp; 5797504 |
| Baldwin Insurance Group Holdings LLC, 7.125%, 5/15/2031 (n) | 7697000 | &nbsp;&nbsp;&nbsp; 7898384 |
| Hub International Ltd., 5.625%, 12/01/2029 (n) | 1980000 | &nbsp;&nbsp;&nbsp; 1974093 |
| Hub International Ltd., 7.25%, 6/15/2030 (n) | 6771000 | &nbsp;&nbsp;&nbsp; 7068910 |
| Hub International Ltd., 7.375%, 1/31/2032 (n) | 3413000 | &nbsp;&nbsp;&nbsp; 3537309 |
| Panther Escrow Issuer, 7.125%, 6/01/2031 (n) | 11184000 | &nbsp;&nbsp;&nbsp; 11558407 |
|  |  | &nbsp;&nbsp;&nbsp; $67041486 |
| Interactive Media Services – 0.5% | Interactive Media Services – 0.5% | Interactive Media Services – 0.5% |
| Snap, Inc., 6.875%, 3/01/2033 (n) | $7258000 | &nbsp;&nbsp;&nbsp; $7422357 |
| Snap, Inc., 6.875%, 3/15/2034 (n) | 1707000 | &nbsp;&nbsp;&nbsp; 1737549 |
|  |  | &nbsp;&nbsp;&nbsp; $9159906 |
| Machinery & Tools – 0.8% | Machinery & Tools – 0.8% | Machinery & Tools – 0.8% |
| Manitowoc Co., Inc., 9.25%, 10/01/2031 (n) | $4650000 | &nbsp;&nbsp;&nbsp; $4886918 |
| Ritchie Bros Holdings, Inc., 7.75%, 3/15/2031 (n) | 11477000 | &nbsp;&nbsp;&nbsp; 11977730 |
|  |  | &nbsp;&nbsp;&nbsp; $16864648 |
| Medical & Health Technology & Services – 3.7% | Medical & Health Technology & Services – 3.7% | Medical & Health Technology & Services – 3.7% |
| Acadia Healthcare Co., Inc., 7.375%, 3/15/2033 (n) | $4563000 | &nbsp;&nbsp;&nbsp; $4717065 |
| Bausch & Lomb Escrow Corp., 8.375%, 10/01/2028 (n) | 5049000 | &nbsp;&nbsp;&nbsp; 5276205 |
| CHS/Community Health Systems, Inc., 6.125%, 4/01/2030 (n) | 3317000 | &nbsp;&nbsp;&nbsp; 2786999 |
| CHS/Community Health Systems, Inc., 5.25%, 5/15/2030 (n) | 13390000 | &nbsp;&nbsp;&nbsp; 12551483 |
| Concentra, Inc., 6.875%, 7/15/2032 (n) | 6252000 | &nbsp;&nbsp;&nbsp; 6521061 |
| Encompass Health Corp., 4.75%, 2/01/2030  | 6698000 | &nbsp;&nbsp;&nbsp; 6627453 |
| Encompass Health Corp., 4.625%, 4/01/2031  | 2297000 | &nbsp;&nbsp;&nbsp; 2240791 |
| Fortrea Holdings, Inc., 7.5%, 7/01/2030 (n) | 1696000 | &nbsp;&nbsp;&nbsp; 1628226 |
| IQVIA, Inc., 5%, 5/15/2027 (n) | 4355000 | &nbsp;&nbsp;&nbsp; 4353612 |
| IQVIA, Inc., 6.5%, 5/15/2030 (n) | 6697000 | &nbsp;&nbsp;&nbsp; 6955156 |
| IQVIA, Inc., 6.25%, 6/01/2032 (n) | 2771000 | &nbsp;&nbsp;&nbsp; 2888119 |
| Prime Healthcare Services, Inc., 9.375%, 9/01/2029 (n) | 4519000 | &nbsp;&nbsp;&nbsp; 4754169 |
| Surgery Center Holdings, Inc., 7.25%, 4/15/2032 (n) | 5040000 | &nbsp;&nbsp;&nbsp; 5185717 |
| U.S. Acute Care Solutions LLC, 9.75%, 5/15/2029 (n) | 5946000 | &nbsp;&nbsp;&nbsp; 6054871 |
|  |  | &nbsp;&nbsp;&nbsp; $72540927 |
| Medical Equipment – 1.2% | Medical Equipment – 1.2% | Medical Equipment – 1.2% |
| Insulet Corp., 6.5%, 4/01/2033 (n) | $6922000 | &nbsp;&nbsp;&nbsp; $7211686 |
| Medline Borrower LP, 3.875%, 4/01/2029 (n) | 2747000 | &nbsp;&nbsp;&nbsp; 2668178 |
| Medline Borrower LP, 5.25%, 10/01/2029 (n) | 7992000 | &nbsp;&nbsp;&nbsp; 7961587 |
| Medline Borrower LP/Medline Co-Issuer, Inc., 6.25%, 4/01/2029 (n) | 6232000 | &nbsp;&nbsp;&nbsp; 6411189 |
|  |  | &nbsp;&nbsp;&nbsp; $24252640 |
| Metals & Mining – 2.5% | Metals & Mining – 2.5% | Metals & Mining – 2.5% |
| Baffinland Iron Mines Corp./Baffinland Iron Mines LP, 8.75%, 7/15/2026 (n) | $6198000 | &nbsp;&nbsp;&nbsp; $5574989 |
| Cleveland-Cliffs, Inc., 7%, 3/15/2032 (n) | 2814000 | &nbsp;&nbsp;&nbsp; 2877295 |
| FMG Resources Ltd., 4.375%, 4/01/2031 (n) | 9774000 | &nbsp;&nbsp;&nbsp; 9459981 |
| Mineral Resources Ltd., 9.25%, 10/01/2028 (n) | 8043000 | &nbsp;&nbsp;&nbsp; 8433134 |
| Mineral Resources Ltd., 7%, 4/01/2031 (n) | 1723000 | &nbsp;&nbsp;&nbsp; 1783744 |
| Novelis, Inc., 4.75%, 1/30/2030 (n) | 6620000 | &nbsp;&nbsp;&nbsp; 6398752 |
| Novelis, Inc., 6.875%, 1/30/2030 (n) | 3868000 | &nbsp;&nbsp;&nbsp; 4015146 |
| Novelis, Inc., 3.875%, 8/15/2031 (n) | 3318000 | &nbsp;&nbsp;&nbsp; 3040349 |

---

------

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Bonds – continued  | Bonds – continued  | Bonds – continued  |
| Metals & Mining – continued | Metals & Mining – continued | Metals & Mining – continued |
| Petra Diamonds US$ Treasury PLC, 9.75%, 3/08/2026 (z) | $2962036 | &nbsp;&nbsp;&nbsp; $1688618 |
| Taseko Mines Ltd., 8.25%, 5/01/2030 (n) | 5634000 | &nbsp;&nbsp;&nbsp; 5956614 |
|  |  | &nbsp;&nbsp;&nbsp; $49228622 |
| Midstream – 5.8% | Midstream – 5.8% | Midstream – 5.8% |
| Buckeye Partners LP, 6.75%, 2/01/2030 (n) | $5179000 | &nbsp;&nbsp;&nbsp; $5405224 |
| Buckeye Partners LP, 5.85%, 11/15/2043  | 1949000 | &nbsp;&nbsp;&nbsp; 1828702 |
| Delek Logistics Partners LP/Delek Logistics Corp., 8.625%, 3/15/2029 (n) | 7221000 | &nbsp;&nbsp;&nbsp; 7536760 |
| Delek Logistics Partners LP/Delek Logistics Corp., 7.375%, 6/30/2033 (n) | 3060000 | &nbsp;&nbsp;&nbsp; 3104410 |
| Genesis Energy LP/Genesis Energy Finance Corp., 8.25%, 1/15/2029  | 8734000 | &nbsp;&nbsp;&nbsp; 9125250 |
| NuStar Logistics LP, 6.375%, 10/01/2030  | 6671000 | &nbsp;&nbsp;&nbsp; 6947580 |
| Prairie Acquiror LP, 9%, 8/01/2029 (n) | 5273000 | &nbsp;&nbsp;&nbsp; 5412081 |
| Rockies Express Pipeline LLC, 6.75%, 3/15/2033 (n) | 3045000 | &nbsp;&nbsp;&nbsp; 3187025 |
| Rockies Express Pipeline LLC, 6.875%, 4/15/2040 (n) | 5916000 | &nbsp;&nbsp;&nbsp; 6099680 |
| Sunoco LP, 7.25%, 5/01/2032 (n) | 8261000 | &nbsp;&nbsp;&nbsp; 8709266 |
| Tallgrass Energy Partners LP, 5.5%, 1/15/2028 (n) | 9534000 | &nbsp;&nbsp;&nbsp; 9476530 |
| Tallgrass Energy Partners LP, 7.375%, 2/15/2029 (n) | 2718000 | &nbsp;&nbsp;&nbsp; 2798167 |
| Tallgrass Energy Partners LP, 6.75%, 3/15/2034 (n) | 1467000 | &nbsp;&nbsp;&nbsp; 1455719 |
| TransMontaigne Partners LLC, 8.5%, 6/15/2030 (n) | 3947000 | &nbsp;&nbsp;&nbsp; 4129154 |
| Venture Global LNG, Inc., 8.125%, 6/01/2028 (n) | 4929000 | &nbsp;&nbsp;&nbsp; 5077486 |
| Venture Global LNG, Inc., 9.5%, 2/01/2029 (n) | 5961000 | &nbsp;&nbsp;&nbsp; 6415604 |
| Venture Global LNG, Inc., 8.375%, 6/01/2031 (n) | 7967000 | &nbsp;&nbsp;&nbsp; 8179209 |
| Venture Global LNG, Inc., 9% to 9/30/2029, FLR (CMT - 5yr. + 5.44%) to 3/30/2173 (n) | 7195000 | &nbsp;&nbsp;&nbsp; 6724920 |
| Venture Global Plaquemines LNG LLC, 7.5%, 5/01/2033 (n) | 1997000 | &nbsp;&nbsp;&nbsp; 2196099 |
| Venture Global Plaquemines LNG LLC, 6.5%, 1/15/2034 (n) | 5493000 | &nbsp;&nbsp;&nbsp; 5753659 |
| Venture Global Plaquemines LNG LLC, 6.75%, 1/15/2036 (n) | 5277000 | &nbsp;&nbsp;&nbsp; 5588929 |
|  |  | &nbsp;&nbsp;&nbsp; $115151454 |
| Network & Telecom – 1.2% | Network & Telecom – 1.2% | Network & Telecom – 1.2% |
| Altice Financing S.A., 5.75%, 8/15/2029 (n) | $3235000 | &nbsp;&nbsp;&nbsp; $2353527 |
| Frontier Communications Holdings LLC, 6.75%, 5/01/2029 (n) | 5700000 | &nbsp;&nbsp;&nbsp; 5757416 |
| Iliad Holding S.A.S., 7%, 10/15/2028 (n) | 7007000 | &nbsp;&nbsp;&nbsp; 7111411 |
| Iliad Holding S.A.S., 5.375%, 4/15/2030 (n) | 1568000 | &nbsp;&nbsp;&nbsp; 1860612 |
| Iliad Holding S.A.S., 6.875%, 4/15/2031 (n) | 2469000 | &nbsp;&nbsp;&nbsp; 3048275 |
| Iliad Holding S.A.S., 6.875%, 4/15/2031  | 500000 | &nbsp;&nbsp;&nbsp; 617310 |
| Windstream Services LLC/Windstream Escrow, 8.25%, 10/01/2031 (n) | $2266000 | &nbsp;&nbsp;&nbsp; 2313917 |
|  |  | &nbsp;&nbsp;&nbsp; $23062468 |
| Oil Services – 1.1% | Oil Services – 1.1% | Oil Services – 1.1% |
| Nabors Industries, Inc., 8.875%, 8/15/2031 (n) | $6838000 | &nbsp;&nbsp;&nbsp; $6498045 |
| U.S.A. Compression Partners LP/Finance Co., 7.125%, 3/15/2029 (n) | 8607000 | &nbsp;&nbsp;&nbsp; 8889654 |
| Valaris Ltd., 8.375%, 4/30/2030 (n) | 5381000 | &nbsp;&nbsp;&nbsp; 5611882 |
|  |  | &nbsp;&nbsp;&nbsp; $20999581 |
| Pharmaceuticals – 0.8% | Pharmaceuticals – 0.8% | Pharmaceuticals – 0.8% |
| 1261229 B.C. Ltd., 10%, 4/15/2032 (n) | $5556000 | &nbsp;&nbsp;&nbsp; $5807740 |
| Bausch Health Co., Inc., 4.875%, 6/01/2028 (n) | 4914000 | &nbsp;&nbsp;&nbsp; 4471740 |
| Bausch Health Co., Inc., 5.25%, 1/30/2030 (n) | 2714000 | &nbsp;&nbsp;&nbsp; 1954473 |
| Grifols S.A., 7.125%, 5/01/2030  | 3670000 | &nbsp;&nbsp;&nbsp; 4444438 |
|  |  | &nbsp;&nbsp;&nbsp; $16678391 |
| Pollution Control – 0.8% | Pollution Control – 0.8% | Pollution Control – 0.8% |
| Clean Harbors, Inc., 5.75%, 10/15/2033 (n) | $3967000 | &nbsp;&nbsp;&nbsp; $4054254 |
| GFL Environmental, Inc., 4%, 8/01/2028 (n) | 4988000 | &nbsp;&nbsp;&nbsp; 4879521 |
| GFL Environmental, Inc., 6.75%, 1/15/2031 (n) | 3043000 | &nbsp;&nbsp;&nbsp; 3183361 |
| Wrangler Holdco Corp., 6.625%, 4/01/2032 (n) | 3680000 | &nbsp;&nbsp;&nbsp; 3841813 |
|  |  | &nbsp;&nbsp;&nbsp; $15958949 |

---

------

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Bonds – continued  | Bonds – continued  | Bonds – continued  |
| Precious Metals & Minerals – 0.9% | Precious Metals & Minerals – 0.9% | Precious Metals & Minerals – 0.9% |
| Eldorado Gold Corp., 6.25%, 9/01/2029 (n) | $6792000 | &nbsp;&nbsp;&nbsp; $6805795 |
| IAMGOLD Corp., 5.75%, 10/15/2028 (n) | 4579000 | &nbsp;&nbsp;&nbsp; 4561855 |
| New Gold, Inc., 6.875%, 4/01/2032 (n) | 6099000 | &nbsp;&nbsp;&nbsp; 6378023 |
|  |  | &nbsp;&nbsp;&nbsp; $17745673 |
| Real Estate - Healthcare – 0.3% | Real Estate - Healthcare – 0.3% | Real Estate - Healthcare – 0.3% |
| MPT Operating Partnership LP/MPT Finance Corp., REIT, 8.5%, 2/15/2032 (n) | $4199000 | &nbsp;&nbsp;&nbsp; $4399221 |
| MPT Operating Partnership LP/MPT Financial Corp., REIT, 4.625%, 8/01/2029  | 2536000 | &nbsp;&nbsp;&nbsp; 2073463 |
|  |  | &nbsp;&nbsp;&nbsp; $6472684 |
| Real Estate - Other – 1.7% | Real Estate - Other – 1.7% | Real Estate - Other – 1.7% |
| Park Intermediate Holdings LLC, 4.875%, 5/15/2029 (n) | $6055000 | &nbsp;&nbsp;&nbsp; $5880954 |
| RHP Hotel Properties LP/RHP Finance Corp., 7.25%, 7/15/2028 (n) | 9598000 | &nbsp;&nbsp;&nbsp; 9896901 |
| RHP Hotel Properties LP/RHP Finance Corp., 6.5%, 4/01/2032 (n) | 1120000 | &nbsp;&nbsp;&nbsp; 1152170 |
| Starwood Property Trust, Inc., 5.75%, 1/15/2031 (n) | 9041000 | &nbsp;&nbsp;&nbsp; 9168585 |
| XHR LP, REIT, 4.875%, 6/01/2029 (n) | 7035000 | &nbsp;&nbsp;&nbsp; 6876930 |
|  |  | &nbsp;&nbsp;&nbsp; $32975540 |
| Restaurants – 1.2% | Restaurants – 1.2% | Restaurants – 1.2% |
| 1011778 B.C. ULC/New Red Finance, Inc., 6.125%, 6/15/2029 (n) | $7456000 | &nbsp;&nbsp;&nbsp; $7661741 |
| 1011778 B.C. ULC/New Red Finance, Inc., 4%, 10/15/2030 (n) | 5590000 | &nbsp;&nbsp;&nbsp; 5284721 |
| Fertitta Entertainment LLC, 6.75%, 1/15/2030 (n) | 6787000 | &nbsp;&nbsp;&nbsp; 6291160 |
| New Red Finance, Inc., 5.625%, 9/15/2029 (n) | 4006000 | &nbsp;&nbsp;&nbsp; 4077190 |
|  |  | &nbsp;&nbsp;&nbsp; $23314812 |
| Retailers – 1.8% | Retailers – 1.8% | Retailers – 1.8% |
| Beach Acquisition Bidco LLC, 10% (10% Cash or 10.75% PIK), 7/15/2033 (n)(p) | $5599000 | &nbsp;&nbsp;&nbsp; $6011456 |
| Macy's Retail Holdings LLC, 5.875%, 3/15/2030 (n) | 417000 | &nbsp;&nbsp;&nbsp; 416968 |
| Macy's Retail Holdings LLC, 7.375%, 8/01/2033 (n) | 5591000 | &nbsp;&nbsp;&nbsp; 5891583 |
| Mavis Tire Express Services Corp., 6.5%, 5/15/2029 (n) | 4166000 | &nbsp;&nbsp;&nbsp; 4121042 |
| Maxeda DIY Holding B.V., 5.875%, 10/01/2026  | 2955000 | &nbsp;&nbsp;&nbsp; 3016200 |
| Parkland Corp., 4.625%, 5/01/2030 (n) | $6824000 | &nbsp;&nbsp;&nbsp; 6620459 |
| Parkland Corp., 6.625%, 8/15/2032 (n) | 2812000 | &nbsp;&nbsp;&nbsp; 2870791 |
| Penske Automotive Group Co., 3.75%, 6/15/2029  | 6313000 | &nbsp;&nbsp;&nbsp; 6065567 |
|  |  | &nbsp;&nbsp;&nbsp; $35014066 |
| Specialty Stores – 1.0% | Specialty Stores – 1.0% | Specialty Stores – 1.0% |
| Carvana Co., 9%, 6/01/2031 (n)(p) | $11928500 | &nbsp;&nbsp;&nbsp; $13273307 |
| Michael Cos., Inc., 5.25%, 5/01/2028 (n) | 2994000 | &nbsp;&nbsp;&nbsp; 2795741 |
| Michael Cos., Inc., 7.875%, 5/01/2029 (n) | 4252000 | &nbsp;&nbsp;&nbsp; 3731130 |
|  |  | &nbsp;&nbsp;&nbsp; $19800178 |
| Supermarkets – 1.1% | Supermarkets – 1.1% | Supermarkets – 1.1% |
| Albertsons Cos. LLC/Safeway, Inc., 5.5%, 3/31/2031 (n)(w) | $1179000 | &nbsp;&nbsp;&nbsp; $1188319 |
| Albertsons Cos. LLC/Safeway, Inc., 6.25%, 3/15/2033 (n) | 12442000 | &nbsp;&nbsp;&nbsp; 12789567 |
| KeHE Distributors LLC/KeHE Finance Corp., 9%, 2/15/2029 (n) | 7998000 | &nbsp;&nbsp;&nbsp; 8373977 |
|  |  | &nbsp;&nbsp;&nbsp; $22351863 |
| Telecommunications - Wireless – 0.8% | Telecommunications - Wireless – 0.8% | Telecommunications - Wireless – 0.8% |
| Altice France S.A., 9.5%, 11/01/2029 (n) | $2572134 | &nbsp;&nbsp;&nbsp; $2620671 |
| Altice France S.A., 6.875%, 10/15/2030 (n) | 5717992 | &nbsp;&nbsp;&nbsp; 5592008 |
| Altice France S.A., 6.5%, 3/15/2032 (n) | 1473201 | &nbsp;&nbsp;&nbsp; 1410521 |
| Zegona Finance PLC, 6.75%, 7/15/2029 (n) | 537300 | &nbsp;&nbsp;&nbsp; 654004 |
| Zegona Finance PLC, 8.625%, 7/15/2029 (n) | $4936000 | &nbsp;&nbsp;&nbsp; 5244199 |
|  |  | &nbsp;&nbsp;&nbsp; $15521403 |

---

------

*Portfolio of Investments (unaudited) – continued*

---

| | | |
|:---|:---|:---|
| **Issuer** | **Shares/Par** | **Value ($)** |
| Bonds – continued  | Bonds – continued  | Bonds – continued  |
| Telephone Services – 1.0% | Telephone Services – 1.0% | Telephone Services – 1.0% |
| Level 3 Financing, Inc., 3.875%, 10/15/2030 (n) | $4326683 | &nbsp;&nbsp;&nbsp; $3876437 |
| Level 3 Financing, Inc., 6.875%, 6/30/2033 (n) | 3286899 | &nbsp;&nbsp;&nbsp; 3366728 |
| Level 3 Financing, Inc., 7%, 3/31/2034 (n) | 2827793 | &nbsp;&nbsp;&nbsp; 2905283 |
| Uniti Group/CSL Capital Co., 6.5%, 2/15/2029 (n) | 5643000 | &nbsp;&nbsp;&nbsp; 5281430 |
| Uniti Group/CSL Capital Co., 8.625%, 6/15/2032 (n) | 4192000 | &nbsp;&nbsp;&nbsp; 3925906 |
|  |  | &nbsp;&nbsp;&nbsp; $19355784 |
| Tobacco – 0.4% | Tobacco – 0.4% | Tobacco – 0.4% |
| Turning Point Brands, Inc., 7.625%, 3/15/2032 (n)  | $7159000 | &nbsp;&nbsp;&nbsp; $7580014 |
| Transportation - Services – 0.3% | Transportation - Services – 0.3% | Transportation - Services – 0.3% |
| Avis Budget Finance PLC, 7.25%, 7/31/2030 (n) | 4875000 | &nbsp;&nbsp;&nbsp; $5748079 |
| Avis Budget Finance PLC, 7.25%, 7/31/2030  | 680000 | &nbsp;&nbsp;&nbsp; 801783 |
|  |  | &nbsp;&nbsp;&nbsp; $6549862 |
| Utilities - Electric Power – 3.7% | Utilities - Electric Power – 3.7% | Utilities - Electric Power – 3.7% |
| Calpine Corp., 4.5%, 2/15/2028 (n) | $3653000 | &nbsp;&nbsp;&nbsp; $3644092 |
| Clearway Energy Operating LLC, 3.75%, 2/15/2031 (n) | 7564000 | &nbsp;&nbsp;&nbsp; 7004557 |
| ContourGlobal Power Holdings S.A., 6.75%, 2/28/2030 (n) | 1593000 | &nbsp;&nbsp;&nbsp; 1640790 |
| Hawaiian Electric Co., Inc., 6%, 10/01/2033 (n) | 4412000 | &nbsp;&nbsp;&nbsp; 4460581 |
| NRG Energy, Inc., 5.75%, 1/15/2034 (n) | 4660000 | &nbsp;&nbsp;&nbsp; 4692855 |
| NRG Energy, Inc., 6%, 1/15/2036 (n) | 8558000 | &nbsp;&nbsp;&nbsp; 8705307 |
| PG&E Corp., 5.25%, 7/01/2030  | 10334000 | &nbsp;&nbsp;&nbsp; 10226580 |
| PG&E Corp., 7.375% to 3/15/2030, FLR (CMT - 5yr. + 3.883%) to 3/15/2055  | 2900000 | &nbsp;&nbsp;&nbsp; 2982722 |
| Talen Energy Supply LLC, 6.25%, 2/01/2034 (n) | 4517000 | &nbsp;&nbsp;&nbsp; 4631954 |
| Talen Energy Supply LLC, 6.5%, 2/01/2036 (n) | 2823000 | &nbsp;&nbsp;&nbsp; 2923790 |
| TerraForm Global Operating LLC, 6.125%, 3/01/2026 (n) | 1664000 | &nbsp;&nbsp;&nbsp; 1653229 |
| TerraForm Power Operating LLC, 5%, 1/31/2028 (n) | 6745000 | &nbsp;&nbsp;&nbsp; 6720090 |
| TerraForm Power Operating LLC, 4.75%, 1/15/2030 (n) | 1494000 | &nbsp;&nbsp;&nbsp; 1433203 |
| XPLR Infrastructure Operating Partners LP, 4.5%, 9/15/2027 (n) | 3689000 | &nbsp;&nbsp;&nbsp; 3608074 |
| XPLR Infrastructure Operating Partners LP, 7.25%, 1/15/2029 (n) | 5169000 | &nbsp;&nbsp;&nbsp; 5317180 |
| XPLR Infrastructure Operating Partners LP, 8.375%, 1/15/2031 (n) | 1701000 | &nbsp;&nbsp;&nbsp; 1779717 |
| XPLR Infrastructure Operating Partners LP, 8.625%, 3/15/2033 (n) | 1369000 | &nbsp;&nbsp;&nbsp; 1436379 |
|  |  | &nbsp;&nbsp;&nbsp; $72861100 |
| **Total Bonds**  |  | &nbsp;&nbsp; **$1866783293** |
| Exchange-Traded Funds – 1.5%  | Exchange-Traded Funds – 1.5%  | Exchange-Traded Funds – 1.5%  |
| Fixed Income ETFs – 1.5% | Fixed Income ETFs – 1.5% |  |
| iShares iBoxx $ High Yield Corporate Bond ETF  | 785000 | &nbsp;&nbsp;&nbsp; $29500300 |
| Common Stocks – 0.0%  | Common Stocks – 0.0%  | Common Stocks – 0.0%  |
| Oil Services – 0.0% | Oil Services – 0.0% |  |
| LTRI Holdings LP (a)(u)  | 3250 | &nbsp;&nbsp;&nbsp; $486883 |

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Strike** <br>**Price**<br>| &nbsp;&nbsp; **First** <br>**Exercise**<br>|  |  |
| Warrants – 0.0% |  |  |  |  |
| Other Banks & Diversified Financials – 0.0% | Other Banks & Diversified Financials – 0.0% | Other Banks & Diversified Financials – 0.0% | Other Banks & Diversified Financials – 0.0% | Other Banks & Diversified Financials – 0.0% |
| Avation Capital S.A. (1 share for 1 warrant, Expiration 10/31/26) (a) | GBP 1.14 | N/A | &nbsp;&nbsp;&nbsp;&nbsp; 62563 | &nbsp;&nbsp;&nbsp; $27533 |

---

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

---

| | | |
|:---|:---|:---|
| Mutual Funds (h) – 4.0%  | Mutual Funds (h) – 4.0%  | Mutual Funds (h) – 4.0%  |
| Money Market Funds – 4.0% | Money Market Funds – 4.0% |  |
| MFS Institutional Money Market Portfolio, 4.12% (v)  | 79662886 | &nbsp;&nbsp;&nbsp; $79678819 |
| Other Assets, Less Liabilities – 0.4% |  | &nbsp;&nbsp;&nbsp; 8838518 |
| **Net Assets – 100.0%** | **Net Assets – 100.0%** | &nbsp;&nbsp; **$1985315346** |

---

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

------

*Portfolio of Investments (unaudited) – continued*

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

&nbsp;&nbsp;&nbsp;&nbsp;(a) Non-income producing security.

&nbsp;&nbsp;&nbsp;&nbsp;(h) An affiliated issuer, which may be considered one in which the fund owns 5% or more
 of the outstanding voting securities, or a company which is under common control. At period end, the aggregate values of the fund's investments in affiliated
 issuers and in unaffiliated issuers were $79,678,819 and $1,896,798,009, respectively.

&nbsp;&nbsp;&nbsp;&nbsp;(n) Securities exempt from registration under Rule 144A of the Securities Act of 1933.
 These securities may be sold in the ordinary course of business in transactions exempt from registration, normally to qualified institutional buyers.
 At period end, the aggregate value of these securities was $1,705,271,701, representing 85.9% of net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(p) Payment-in-kind (PIK) security for which interest income may be received in additional
 securities and/or cash.

&nbsp;&nbsp;&nbsp;&nbsp;(u) The security was valued using significant unobservable inputs and is considered level
 3 under the fair value hierarchy.

&nbsp;&nbsp;&nbsp;&nbsp;(v) Affiliated issuer that is available only to investment companies managed by MFS. The
 rate quoted for the MFS Institutional Money Market Portfolio is the annualized seven-day yield of the fund at period end.

&nbsp;&nbsp;&nbsp;&nbsp;(w) When-issued security.

&nbsp;&nbsp;&nbsp;&nbsp;(z) Restricted securities are not registered under the Securities Act of 1933 and are
 subject to legal restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities
 are subsequently registered. Disposal of these securities may involve time-consuming negotiations and prompt sale at an acceptable price may be difficult.
 The fund holds the following restricted securities:

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

---

| | | | |
|:---|:---|:---|:---|
| **Restricted Securities** | &nbsp;&nbsp; **Acquisition** <br>**Date**<br>| **Cost** | **Value** |
| Petra Diamonds US$ Treasury PLC, 9.75%, 3/08/2026 | 3/10/2021-3/29/2022 | $2959947 | $1688618 |
| % of Net assets |  |  | 0.1% |

---

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

---

| | |
|:---|:---|
| The following abbreviations are used in this report and are defined: | The following abbreviations are used in this report and are defined: |
| CDO | Collateralized Debt Obligation |
| CMT | Constant Maturity Treasury  |
| ETF | Exchange-Traded Fund |
| FLR | Floating Rate. Interest rate resets periodically based on the parenthetically disclosed reference rate plus a spread (if any). The period-end rate <br> reported may not be the current rate. All reference rates are USD unless otherwise noted.<br>|
| REIT | Real Estate Investment Trust |
| SOFR | Secured Overnight Financing Rate |
| Abbreviations indicate amounts shown in currencies other than the U.S. dollar. All amounts are stated in U.S. dollars unless otherwise <br> indicated. A list of abbreviations is shown below: | Abbreviations indicate amounts shown in currencies other than the U.S. dollar. All amounts are stated in U.S. dollars unless otherwise <br> indicated. A list of abbreviations is shown below: |
| EUR | Euro |
| GBP | British Pound |

---

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Derivative Contracts at 10/31/25** | **Derivative Contracts at 10/31/25** | **Derivative Contracts at 10/31/25** | **Derivative Contracts at 10/31/25** | **Derivative Contracts at 10/31/25** | **Derivative Contracts at 10/31/25** | **Derivative Contracts at 10/31/25** |
| **Forward Foreign Currency Exchange Contracts**  | **Forward Foreign Currency Exchange Contracts**  | **Forward Foreign Currency Exchange Contracts**  | **Forward Foreign Currency Exchange Contracts**  | **Forward Foreign Currency Exchange Contracts**  | **Forward Foreign Currency Exchange Contracts**  | **Forward Foreign Currency Exchange Contracts**  |
| **Currency** <br>**Purchased** | **Currency** <br>**Purchased** | &nbsp;&nbsp; **Currency** <br>**Sold** | &nbsp;&nbsp; **Currency** <br>**Sold** | **Counterparty** | &nbsp;&nbsp; **Settlement** <br>**Date**<br>| **Unrealized** <br>**Appreciation** <br>**(Depreciation)**<br>|
| **Asset Derivatives** | **Asset Derivatives** | **Asset Derivatives** | **Asset Derivatives** | **Asset Derivatives** | **Asset Derivatives** | **Asset Derivatives** |
| USD | &nbsp;&nbsp; 43182607 | EUR | &nbsp;&nbsp; 37008323 | Deutsche Bank AG | 1/16/2026 | &nbsp;&nbsp; $345907 |

---

See attached supplemental information. For more information see notes to financial statements as disclosed in the most recent semiannual or annual report.

------

**Supplemental Information**

10/31/25 (unaudited)

The fund is an investment company and accordingly follows the investment company accounting and reporting guidance of the Financial

Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services - Investment Companies.

**(1) Investment Valuations**

Subject to its oversight, the fund's Board of Trustees has delegated primary responsibility for determining or causing to be determined the value of the fund's investments to MFS as the fund's adviser, pursuant to the fund's valuation policy and procedures which have been adopted by the adviser and approved by the Board. In accordance with Rule 2a-5 under the Investment Company Act of 1940, the Board of Trustees designated the adviser as the "valuation designee" of the fund. If the adviser, as valuation designee, determines that reliable market quotations are not readily available for an investment, the investment is valued at fair value as determined in good faith by the adviser in accordance with the adviser's fair valuation policy and procedures.

Under the fund's valuation policy and procedures, equity securities, including restricted equity securities, are generally valued at the last sale or official closing price on their primary market or exchange as provided by a third-party pricing service. Equity securities, for which there were no sales reported that day, are generally valued at the last quoted daily bid quotation on their primary market or exchange as provided

by a third-party pricing service. Debt instruments and floating rate loans, including restricted debt instruments, are generally valued at an

evaluated or composite bid as provided by a third-party pricing service. Short-term instruments with a maturity at issuance of 60 days or less

may be valued at amortized cost, which approximates market value. Forward foreign currency exchange contracts are generally valued at the

mean of bid and asked prices for the time period interpolated from rates provided by a third-party pricing service for proximate time periods.

Open-end investment companies are generally valued at net asset value per share. Funds traded on a recognized securities exchange (such as Exchange Traded Funds or Closed End Funds) are generally valued at the official closing price on their primary market or exchange as provided by a third-party pricing service. If no sales are reported that day for these funds, generally they will be valued at the last quoted

daily bid quotation on their primary market or exchange as provided by a third-party pricing service. The values of foreign securities and other assets and liabilities expressed in foreign currencies are converted to U.S. dollars using the mean of bid and asked prices for rates provided by a third-party pricing service.

Under the fund's valuation policy and procedures, market quotations are not considered to be readily available for debt instruments, floating rate loans, and many types of derivatives. These investments are generally valued at fair value based on information from third-party pricing services or otherwise determined by the adviser in accordance with the adviser's fair valuation policy and procedures. Securities and other assets generally valued on the basis of information from a third-party pricing service may also be valued at a broker/dealer bid quotation. In determining values, third-party pricing services can utilize both transaction data and market information such as yield, quality, coupon rate, maturity, type of issue, trading characteristics, spreads and other market data. Pricing services generally value debt instruments assuming orderly transactions of institutional round lot sizes, but a fund may hold or transact in such securities in smaller, odd lot sizes. In instances where a fund holds an odd lot size position in a debt instrument, such position will typically be valued using the pricing agent's institutional round lot price for the debt instrument. Odd lots may trade at lower prices than institutional round lots, and the fund may receive different prices when it sells odd lot positions than it would receive for sales of institutional round lot positions. An investment may also be valued at fair value if the adviser determines that the investment's value has been materially affected by events occurring after the close of the exchange or market on which the investment is principally traded (such as foreign exchange or market) and prior to the determination of the fund's net asset value, or after the halt of trading of a specific security where trading does not resume prior to the close of the exchange or market on which the security is principally traded. The adviser generally relies on third-party pricing services or other information (such as the correlation with price movements of similar securities in the same or other markets; the type, cost and investment characteristics of the security; the business and financial condition of the issuer; and trading and other market data) to assist in determining whether to fair value and at what value to fair value an investment. The value of an investment for purposes of calculating the fund's net asset value can differ depending on the source and method used to determine value. When fair valuation is used, the value of an investment used to determine the fund's net asset value may differ from quoted or published prices for the same investment. There can be no assurance that the fund could obtain the fair value assigned to an investment if it were to sell the investment at the same time at which the fund determines its net

asset value per share.

Various inputs are used in determining the value of the fund's assets or liabilities. These inputs are categorized into three broad levels. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment's level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The fund's assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the investment. Level 1 includes unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 includes other significant observable market-based inputs (including quoted prices for similar securities, interest rates, prepayment speed, and credit risk).

------

*Supplemental Information (unaudited) – continued*

Level 3 includes significant unobservable inputs, which may include the adviser's own assumptions in determining the fair value of investments. Other financial instruments are derivative instruments, such as forward foreign currency exchange contracts. The following is a summary of the levels used as of October 31, 2025 in valuing the fund's assets and liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Financial Instruments** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Equity Securities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; United States | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $486883 | &nbsp;&nbsp;&nbsp; $486883 |
| &nbsp;&nbsp;&nbsp; United Kingdom | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 27533 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 27533 |
| U.S. Corporate Bonds | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1577618635 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1577618635 |
| Commercial Mortgage-Backed Securities | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 410 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 410 |
| Foreign Bonds | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 289164248 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 289164248 |
| Investment Companies | &nbsp;&nbsp;&nbsp; 109179119 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 109179119 |
| Total | &nbsp;&nbsp;&nbsp; $109179119 | &nbsp;&nbsp;&nbsp; $1866810826 | &nbsp;&nbsp;&nbsp; $486883 | &nbsp;&nbsp;&nbsp; $1976476828 |
| **Other Financial Instruments** |  |  |  |  |
| Forward Foreign Currency Exchange Contracts – Assets | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $345907 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $345907 |

---

For further information regarding security characteristics, see the Portfolio of Investments.

The following is a reconciliation of level 3 assets for which significant unobservable inputs were used to determine fair value. The table

presents the activity of level 3 securities held at the beginning and the end of the period.

---

| | |
|:---|:---|
|  | **Equity** <br>**Securities**<br>|
| Balance as of 1/31/25 | $739603 |
| &nbsp;&nbsp;&nbsp; Change in unrealized appreciation or depreciation | 275886 |
| &nbsp;&nbsp;&nbsp; Partial liquidation proceeds | (528606) |
| Balance as of 10/31/25 | $486883 |

---

The net change in unrealized appreciation or depreciation from investments held as level 3 at October 31, 2025 is $275,886. At October 31,

2025, the fund held one level 3 security.

**(2) Investments in Affiliated Issuers**

An affiliated issuer may be considered one in which the fund owns 5% or more of the outstanding voting securities, or a company which is under common control. For the purposes of this report, the following were affiliated issuers for the period ended October 31, 2025:

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Affiliated Issuers** | **Beginning** <br>**Value**<br>| **Purchases** | **Sales** <br>**Proceeds**<br>| **Realized** <br>**Gain** <br>**(Loss)**<br>| **Change in** <br>**Unrealized** <br>**Appreciation or** <br>**Depreciation**<br>| **Ending** <br>**Value**<br>|
| MFS Institutional Money Market Portfolio  | &nbsp;&nbsp; $66137172 | &nbsp;&nbsp; $378674966 | &nbsp;&nbsp; $365128756 | &nbsp;&nbsp; $(5286)<br>| &nbsp;&nbsp; $723 | &nbsp;&nbsp; $79678819<br>|

---

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

---

| | | |
|:---|:---|:---|
| **Affiliated Issuers** | **Dividend** <br>**Income**<br>| **Capital Gain** <br>**Distributions**<br>|
| MFS Institutional Money Market Portfolio  | &nbsp;&nbsp; $2411211 | &nbsp;&nbsp; $— |

---

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** MFS Series Trust III

- **b. Investment Company Act file number:** 811-02794

- **c. CIK number of Registrant:** 0000225604

- **d. LEI of Registrant:** 549300V6TTODTL97GD50

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

  - **Street Address 1:** 111 Huntington Avenue

  - **City:** Boston

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 02199

  - **Telephone number:** 617-954-5000

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

- **a. Name of Series:** MFS High Income Fund

- **b. EDGAR series identifier (if any):** S000002427

- **c. LEI of Series:** DMVGFZCV67YA34LSI126

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

- **a. Date of fiscal year-end:** 2026-01-31

- **b. Date as of which information is reported:** 2025-10-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $2009448450.79

**Total Liabilities:** $24133040.13

**Net Assets:** $1985315410.66

**Delayed Delivery Securities:** $12521491.70

**Cash Not Reported:** $135341.10

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -10.61441520 | **1-Year:** -655.80755620 | **5-Year:** -668.05218510 | **10-Year:** -14.17629430 | **30-Year:** 0.00000000

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

- **3-Month:** -8343.84275750 | **1-Year:** -160282.21983290 | **5-Year:** -315954.31072260 | **10-Year:** -60228.42640280 | **30-Year:** -4965.59146550

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000006471 | 1.13%                | 0.53%                | 0.21%                |
| Class ID C000006482 | 1.12%                | 0.82%                | 0.18%                |
| Class ID C000006472 | 1.48%                | 0.54%                | 0.23%                |
| Class ID C000006476 | 1.07%                | 0.78%                | 0.14%                |
| Class ID C000006478 | 1.16%                | 0.86%                | 0.23%                |
| Class ID C000006480 | 1.07%                | 0.78%                | 0.14%                |
| Class ID C000116932 | 1.49%                | 0.55%                | 0.24%                |
| Class ID C000006483 | 1.14%                | 0.84%                | 0.21%                |
| Class ID C000006477 | 1.39%                | 0.46%                | 0.14%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $922134.01               | $14935699.20                               |
| Month 2  | $-938511.63              | $4012258.19                                |
| Month 3  | $573954.25               | $-7883335.69                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Bombardier, Inc.                                                | Bombardier, Inc.                                                | CUSIP: 097751CB5<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |   3410000 | PA      | $3619442.20   | 0.18%             | 2031-07-01      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| LFS Topco LLC                                                   | LFS Topco LLC                                                   | CUSIP: 50203TAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5639000 | PA      | $5519908.27   | 0.28%             | 2030-07-15      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| Energizer Holdings, Inc.                                        | Energizer Holdings, Inc.                                        | CUSIP: 29272WAD1<br>LEI: 5493000D6NN0V57UME20 | Long             | DBT              | CORP              | US        |   4566000 | PA      | $4382542.23   | 0.22%             | 2029-03-31      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Iron Mountain, Inc.                                             | Iron Mountain, Inc.                                             | CUSIP: 46284VAL5<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |   7168000 | PA      | $7165450.34   | 0.36%             | 2032-07-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Diebold Nixdorf, Inc.                                           | Diebold Nixdorf, Inc.                                           | CUSIP: 253651AK9<br>LEI: 549300XZK6EWDBAZSY16 | Long             | DBT              | CORP              | US        |   4712000 | PA      | $4989786.54   | 0.25%             | 2030-03-31      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Clydesdale Acquisition Holdings, Inc.                           | Clydesdale Acquisition Holdings, Inc.                           | CUSIP: 18972EAB1<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |   5378000 | PA      | $5388998.01   | 0.27%             | 2030-04-15      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| Credit Acceptance Corp.                                         | Credit Acceptance Corp.                                         | CUSIP: 225310AS0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4810000 | PA      | $4807691.20   | 0.24%             | 2030-03-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Baldwin Insurance Group Holdings LLC                            | Baldwin Insurance Group Holdings LLC                            | CUSIP: 05825XAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   7697000 | PA      | $7898384.31   | 0.40%             | 2031-05-15      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| Talen Energy Supply LLC                                         | Talen Energy Supply LLC                                         | CUSIP: 87422VAM0<br>LEI: K5K33XN0PQAU1XF7NN66 | Long             | DBT              | CORP              | US        |   4517000 | PA      | $4631954.40   | 0.23%             | 2034-02-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Bausch + Lomb Corp.                                             | Bausch + Lomb Corp.                                             | CUSIP: 071705AA5<br>LEI: 549300NY6OZM39SO6475 | Long             | DBT              | CORP              | CA        |   5049000 | PA      | $5276205.00   | 0.27%             | 2028-10-01      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| Warnermedia Holdings, Inc.                                      | Warnermedia Holdings, Inc.                                      | CUSIP: 55903VBW2<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |   3947000 | PA      | $3168375.31   | 0.16%             | 2042-03-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| SNF Group SACA                                                  | SNF Group SACA                                                  | CUSIP: 7846ELAE7<br>LEI: 969500F7036FEDYPRV54 | Long             | DBT              | CORP              | FR        |   8369000 | PA      | $7741159.29   | 0.39%             | 2030-03-15      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| Matador Resources Co.                                           | Matador Resources Co.                                           | CUSIP: 576485AF3<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | DBT              | CORP              | US        |   4209000 | PA      | $4289194.08   | 0.22%             | 2028-04-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| APi Group DE, Inc.                                              | APi Group DE, Inc.                                              | CUSIP: 00185PAA9<br>LEI: 549300XP4G7B4QYA0G83 | Long             | DBT              | CORP              | US        |  10453000 | PA      | $10242607.24  | 0.52%             | 2029-10-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Genesis Energy LP                                               | Genesis Energy LP                                               | CUSIP: 37185LAP7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   8734000 | PA      | $9125250.19   | 0.46%             | 2029-01-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Permian Resources Operating LLC                                 | Permian Resources Operating LLC                                 | CUSIP: 71424VAB6<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |   1922000 | PA      | $1955502.38   | 0.10%             | 2033-02-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Mineral Resources Ltd.                                          | Mineral Resources Ltd.                                          | CUSIP: 603051AE3<br>LEI: 5299007V1ACKFFX2P066 | Long             | DBT              | CORP              | AU        |   8043000 | PA      | $8433133.76   | 0.42%             | 2028-10-01      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| Avis Budget Finance plc                                         | Avis Budget Finance plc                                         | CUSIP: N/A<br>LEI: 549300W3BJJPGKCIOI13       | Long             | DBT              | CORP              | JE        |    680000 | PA      | $801783.25    | 0.04%             | 2030-07-31      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Nissan Motor Acceptance Co. LLC                                 | Nissan Motor Acceptance Co. LLC                                 | CUSIP: 65480CAK1<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |   2852000 | PA      | $2849891.06   | 0.14%             | 2028-09-29      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Tallgrass Energy Partners LP                                    | Tallgrass Energy Partners LP                                    | CUSIP: 87470LAM3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1467000 | PA      | $1455718.92   | 0.07%             | 2034-03-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Real Hero Merger Sub 2, Inc.                                    | Real Hero Merger Sub 2, Inc.                                    | CUSIP: 75602BAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5102000 | PA      | $3050944.98   | 0.15%             | 2029-02-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Parkland Corp.                                                  | Parkland Corp.                                                  | CUSIP: 70137WAL2<br>LEI: 549300UY5C6HUV0XLS53 | Long             | DBT              | CORP              | CA        |   6824000 | PA      | $6620459.19   | 0.33%             | 2030-05-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| XPLR Infrastructure Operating Partners LP                       | XPLR Infrastructure Operating Partners LP                       | CUSIP: 98380MAA3<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |   1701000 | PA      | $1779717.18   | 0.09%             | 2031-01-15      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| Wrangler Holdco Corp.                                           | Wrangler Holdco Corp.                                           | CUSIP: 37441QAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3680000 | PA      | $3841813.28   | 0.19%             | 2032-04-01      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| New Gold, Inc.                                                  | New Gold, Inc.                                                  | CUSIP: 644535AJ5<br>LEI: 5493005G0GNCHP0H6L96 | Long             | DBT              | CORP              | CA        |   6099000 | PA      | $6378023.15   | 0.32%             | 2032-04-01      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Credit Acceptance Corp.                                         | Credit Acceptance Corp.                                         | CUSIP: 225310AQ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2721000 | PA      | $2853545.35   | 0.14%             | 2028-12-15      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| Allison Transmission, Inc.                                      | Allison Transmission, Inc.                                      | CUSIP: 019736AG2<br>LEI: MWKQ3I0U1GXP2YDSZW75 | Long             | DBT              | CORP              | US        |  10465000 | PA      | $9662207.56   | 0.49%             | 2031-01-30      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                             | Forward Foreign Currency Contract                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $345906.92    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| ams-OSRAM AG                                                    | ams-OSRAM AG                                                    | CUSIP: N/A<br>LEI: 5299001JPPT2QFTV5D76       | Long             | DBT              | CORP              | AT        |   3071000 | PA      | $3776997.29   | 0.19%             | 2029-03-30      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| Icahn Enterprises LP                                            | Icahn Enterprises LP                                            | CUSIP: 451102CK1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2423000 | PA      | $2431875.45   | 0.12%             | 2029-11-15      | Fixed         | 10.00%                | Yes           |                  2 | On Loan: No      |
| MFS Institutional Money Market Portfolio                        | MFS Institutional Money Market Portfolio, Class A               | CUSIP: 55291X109<br>LEI: 5L2W638H85N8T1136O07 | Long             | STIV             | RF                | US        |  79366991 | NS      | $79382864.66  | 4.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Six Flags Entertainment Corp.                                   | Six Flags Entertainment Corp.                                   | CUSIP: 83002YAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   9457000 | PA      | $9602836.40   | 0.48%             | 2032-05-01      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| TransMontaigne Partners LLC                                     | TransMontaigne Partners LLC                                     | CUSIP: 89377AAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3947000 | PA      | $4129154.05   | 0.21%             | 2030-06-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| HUB International Ltd.                                          | HUB International Ltd.                                          | CUSIP: 44332PAG6<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |   1980000 | PA      | $1974092.87   | 0.10%             | 2029-12-01      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| AmeriTex HoldCo Intermediate LLC                                | AmeriTex HoldCo Intermediate LLC                                | CUSIP: 030727AB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6163000 | PA      | $6446970.33   | 0.32%             | 2033-08-15      | Fixed         | 7.62%                 | Yes           |                  2 | On Loan: No      |
| Prime Healthcare Services, Inc.                                 | Prime Healthcare Services, Inc.                                 | CUSIP: 74165HAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4519000 | PA      | $4754168.76   | 0.24%             | 2029-09-01      | Fixed         | 9.38%                 | Yes           |                  2 | On Loan: No      |
| Hilton Domestic Operating Co., Inc.                             | Hilton Domestic Operating Co., Inc.                             | CUSIP: 432833AF8<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |  11580000 | PA      | $11563276.16  | 0.58%             | 2030-01-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Global Aircraft Leasing Co. Ltd.                                | Global Aircraft Leasing Co. Ltd.                                | CUSIP: 37960JAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |   5606000 | PA      | $5771601.24   | 0.29%             | 2027-09-01      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| Brundage-Bone Concrete Pumping Holdings, Inc.                   | Brundage-Bone Concrete Pumping Holdings, Inc.                   | CUSIP: 66981QAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4666000 | PA      | $4707746.70   | 0.24%             | 2032-02-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| US Foods, Inc.                                                  | US Foods, Inc.                                                  | CUSIP: 90290MAD3<br>LEI: 5493000JOOFAOUY1JZ87 | Long             | DBT              | CORP              | US        |   9515000 | PA      | $9409738.41   | 0.47%             | 2029-02-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| RHP Hotel Properties LP                                         | RHP Hotel Properties LP                                         | CUSIP: 749571AK1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1120000 | PA      | $1152169.76   | 0.06%             | 2032-04-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| WULF Compute LLC                                                | WULF Compute LLC                                                | CUSIP: 982911AA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   8475000 | PA      | $8804465.12   | 0.44%             | 2030-10-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| CCO Holdings LLC                                                | CCO Holdings LLC                                                | CUSIP: 1248EPCD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  19738000 | PA      | $18768175.34  | 0.95%             | 2030-03-01      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Magnolia Oil & Gas Operating LLC                                | Magnolia Oil & Gas Operating LLC                                | CUSIP: 559665AB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   7546000 | PA      | $7650927.13   | 0.39%             | 2032-12-01      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Quikrete Holdings, Inc.                                         | Quikrete Holdings, Inc.                                         | CUSIP: 74843PAA8<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |  11437000 | PA      | $11862593.64  | 0.60%             | 2032-03-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Newell Brands, Inc.                                             | Newell Brands, Inc.                                             | CUSIP: 651229BF2<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |   6250000 | PA      | $5937500.00   | 0.30%             | 2030-05-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Chord Energy Corp.                                              | Chord Energy Corp.                                              | CUSIP: 674215AQ1<br>LEI: 529900FA4V2YNIKZ0M71 | Long             | DBT              | CORP              | US        |   1716000 | PA      | $1720083.89   | 0.09%             | 2030-10-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Dornoch Debt Merger Sub, Inc.                                   | Dornoch Debt Merger Sub, Inc.                                   | CUSIP: 25830JAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6554000 | PA      | $5583275.52   | 0.28%             | 2029-10-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Wynn Resorts Finance LLC                                        | Wynn Resorts Finance LLC                                        | CUSIP: 983133AA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5909000 | PA      | $5907345.13   | 0.30%             | 2029-10-01      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| XPLR Infrastructure Operating Partners LP                       | XPLR Infrastructure Operating Partners LP                       | CUSIP: 98380MAB1<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |   1369000 | PA      | $1436379.44   | 0.07%             | 2033-03-15      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| DISH Network Corp.                                              | DISH Network Corp.                                              | CUSIP: 25470MAG4<br>LEI: 529900U350CWHH15G169 | Long             | DBT              | CORP              | US        |   4823000 | PA      | $5077572.41   | 0.26%             | 2027-11-15      | Fixed         | 11.75%                | Yes           |                  2 | On Loan: No      |
| Cornerstone Building Brands, Inc.                               | Cornerstone Building Brands, Inc.                               | CUSIP: 21925DAB5<br>LEI: 549300IW41QEWQ6T0H29 | Long             | DBT              | CORP              | US        |   2822000 | PA      | $2603924.02   | 0.13%             | 2029-08-15      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| Sabre GLBL, Inc.                                                | Sabre GLBL, Inc.                                                | CUSIP: 78573NAM4<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | DBT              | CORP              | US        |   1703000 | PA      | $1609335.00   | 0.08%             | 2030-07-15      | Fixed         | 11.12%                | Yes           |                  2 | On Loan: No      |
| Iliad Holding SAS                                               | Iliad Holding SAS                                               | CUSIP: N/A<br>LEI: 9695009BGMXB527HV965       | Long             | DBT              | CORP              | FR        |    500000 | PA      | $617309.60    | 0.03%             | 2031-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Buckeye Partners LP                                             | Buckeye Partners LP                                             | CUSIP: 118230AM3<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |   1949000 | PA      | $1828702.26   | 0.09%             | 2043-11-15      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| Amynta Agency Borrower, Inc. and Amynta Warranty Borrower, Inc. | Amynta Agency Borrower, Inc. and Amynta Warranty Borrower, Inc. | CUSIP: 03238AAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5627000 | PA      | $5797503.73   | 0.29%             | 2033-07-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Eldorado Gold Corp.                                             | Eldorado Gold Corp.                                             | CUSIP: 284902AF0<br>LEI: 5493004PWQ01YDD1IH62 | Long             | DBT              | CORP              | CA        |   6792000 | PA      | $6805794.55   | 0.34%             | 2029-09-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Windstream Services LLC                                         | Windstream Services LLC                                         | CUSIP: 97381AAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2266000 | PA      | $2313916.65   | 0.12%             | 2031-10-01      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| Icahn Enterprises LP                                            | Icahn Enterprises LP                                            | CUSIP: 451102CF2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5498000 | PA      | $5517517.90   | 0.28%             | 2029-01-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| Surgery Center Holdings, Inc.                                   | Surgery Center Holdings, Inc.                                   | CUSIP: 86881WAF9<br>LEI: 54930054EVI5HWPPW113 | Long             | DBT              | CORP              | US        |   5040000 | PA      | $5185716.48   | 0.26%             | 2032-04-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Jefferson Capital Holdings LLC                                  | Jefferson Capital Holdings LLC                                  | CUSIP: 472481AC4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6914000 | PA      | $7168096.41   | 0.36%             | 2030-05-15      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| Panther Escrow Issuer LLC                                       | Panther Escrow Issuer LLC                                       | CUSIP: 69867RAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  11184000 | PA      | $11558406.77  | 0.58%             | 2031-06-01      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| Mattamy Group Corp.                                             | Mattamy Group Corp.                                             | CUSIP: 57701RAM4<br>LEI: 5493008TNY7A82WCXU31 | Long             | DBT              | CORP              | CA        |   3689000 | PA      | $3578507.81   | 0.18%             | 2030-03-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Encompass Health Corp.                                          | Encompass Health Corp.                                          | CUSIP: 29261AAB6<br>LEI: 549300FVRPM9DRQZRG64 | Long             | DBT              | CORP              | US        |   6698000 | PA      | $6627452.65   | 0.33%             | 2030-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Bombardier, Inc.                                                | Bombardier, Inc.                                                | CUSIP: 097751BZ3<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |   1761000 | PA      | $1834593.18   | 0.09%             | 2029-02-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Clarios Global LP                                               | Clarios Global LP                                               | CUSIP: 18060TAE5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1710000 | PA      | $1749641.27   | 0.09%             | 2032-09-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Snap, Inc.                                                      | Snap, Inc.                                                      | CUSIP: 83304AAL0<br>LEI: 549300JNC0L6VP8A2Q35 | Long             | DBT              | CORP              | US        |   7258000 | PA      | $7422357.41   | 0.37%             | 2033-03-01      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Arches Buyer, Inc.                                              | Arches Buyer, Inc.                                              | CUSIP: 039524AB9<br>LEI: 2549009ADY4208OH2Y47 | Long             | DBT              | CORP              | US        |   6936000 | PA      | $6757684.46   | 0.34%             | 2028-12-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Service Corp. International                                     | Service Corp. International                                     | CUSIP: 817565CH5<br>LEI: 549300RKVM2ME20JHZ15 | Long             | DBT              | CORP              | US        |  11391000 | PA      | $11556773.22  | 0.58%             | 2032-10-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Directv Financing LLC                                           | Directv Financing LLC                                           | CUSIP: 25461LAD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1773000 | PA      | $1765701.09   | 0.09%             | 2031-02-15      | Fixed         | 10.00%                | Yes           |                  2 | On Loan: No      |
| Community Health Systems, Inc.                                  | Community Health Systems, Inc.                                  | CUSIP: 12543DBM1<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |  13390000 | PA      | $12551483.39  | 0.63%             | 2030-05-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| LBM Acquisition LLC                                             | LBM Acquisition LLC                                             | CUSIP: 05552BAA4<br>LEI: 549300FAEB3VWZL4NI86 | Long             | DBT              | CORP              | US        |   3401000 | PA      | $3102154.61   | 0.16%             | 2029-01-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Level 3 Financing, Inc.                                         | Level 3 Financing, Inc.                                         | CUSIP: 527298CM3<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |   3286899 | PA      | $3366727.92   | 0.17%             | 2033-06-30      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Taseko Mines Ltd.                                               | Taseko Mines Ltd.                                               | CUSIP: 876511AG1<br>LEI: 549300XKUO1JSLU7KX54 | Long             | DBT              | CORP              | CA        |   5634000 | PA      | $5956614.11   | 0.30%             | 2030-05-01      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| Medline Borrower LP                                             | Medline Borrower LP                                             | CUSIP: 62482BAA0<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |   2747000 | PA      | $2668178.68   | 0.13%             | 2029-04-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Iliad Holding SAS                                               | Iliad Holding SAS                                               | CUSIP: 449691AC8<br>LEI: 9695009BGMXB527HV965 | Long             | DBT              | CORP              | FR        |   7007000 | PA      | $7111411.31   | 0.36%             | 2028-10-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Viking Baked Goods Acquisition Corp.                            | Viking Baked Goods Acquisition Corp.                            | CUSIP: 92676AAA5<br>LEI: 254900DBFD2H1FJK0893 | Long             | DBT              | CORP              | US        |   4792000 | PA      | $4808125.08   | 0.24%             | 2031-11-01      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| Delek Logistics Partners LP                                     | Delek Logistics Partners LP                                     | CUSIP: 24665FAD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   7221000 | PA      | $7536759.89   | 0.38%             | 2029-03-15      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| Cloud Software Group, Inc.                                      | Cloud Software Group, Inc.                                      | CUSIP: 18912UAC6<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |   7417000 | PA      | $7793887.44   | 0.39%             | 2032-06-30      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| Michaels Cos., Inc. (The)                                       | Michaels Cos., Inc. (The)                                       | CUSIP: 55916AAB0<br>LEI: 549300H9LWMBP7HYLR98 | Long             | DBT              | CORP              | US        |   4252000 | PA      | $3731130.00   | 0.19%             | 2029-05-01      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| Prestige Brands, Inc.                                           | Prestige Brands, Inc.                                           | CUSIP: 74112BAM7<br>LEI: 549300JBVP4J6D42I235 | Long             | DBT              | CORP              | US        |   5568000 | PA      | $5165576.14   | 0.26%             | 2031-04-01      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                             | Avation plc                                                     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DO               |  | GB        |     62563 | NS      | $27533.33     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Univision Communications, Inc.                                  | Univision Communications, Inc.                                  | CUSIP: 914906AZ5<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |   6527000 | PA      | $6675848.24   | 0.34%             | 2031-07-31      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Patrick Industries, Inc.                                        | Patrick Industries, Inc.                                        | CUSIP: 703343AH6<br>LEI: 549300FZ5ZTCCJ3Z5W14 | Long             | DBT              | CORP              | US        |   8637000 | PA      | $8806259.29   | 0.44%             | 2032-11-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Novelis Corp.                                                   | Novelis Corp.                                                   | CUSIP: 670001AL0<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |   3868000 | PA      | $4015146.46   | 0.20%             | 2030-01-30      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Iliad Holding SAS                                               | Iliad Holding SAS                                               | CUSIP: N/A<br>LEI: 9695009BGMXB527HV965       | Long             | DBT              | CORP              | FR        |   1568000 | PA      | $1860612.21   | 0.09%             | 2030-04-15      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Community Health Systems, Inc.                                  | Community Health Systems, Inc.                                  | CUSIP: 12543DBL3<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |   3317000 | PA      | $2786998.79   | 0.14%             | 2030-04-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| MPT Operating Partnership LP                                    | MPT Operating Partnership LP                                    | CUSIP: 55342UAQ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4199000 | PA      | $4399220.92   | 0.22%             | 2032-02-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Mineral Resources Ltd.                                          | Mineral Resources Ltd.                                          | CUSIP: 603051AF0<br>LEI: 5299007V1ACKFFX2P066 | Long             | DBT              | CORP              | AU        |   1723000 | PA      | $1783744.37   | 0.09%             | 2031-04-01      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Grifols SA                                                      | Grifols SA                                                      | CUSIP: N/A<br>LEI: 959800HSSNXWRKBK4N60       | Long             | DBT              | CORP              | ES        |   3670000 | PA      | $4444438.12   | 0.22%             | 2030-05-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| TriNet Group, Inc.                                              | TriNet Group, Inc.                                              | CUSIP: 896288AC1<br>LEI: 5299003FJVBETSFKE990 | Long             | DBT              | CORP              | US        |   2320000 | PA      | $2407111.36   | 0.12%             | 2031-08-15      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| NuStar Logistics LP                                             | NuStar Logistics LP                                             | CUSIP: 67059TAH8<br>LEI: N62BF2PKP51FIIOIUN20 | Long             | DBT              | CORP              | US        |   6671000 | PA      | $6947579.66   | 0.35%             | 2030-10-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| PG&E Corp.                                                      | PG&E Corp.                                                      | CUSIP: 69331CAJ7<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | DBT              | CORP              | US        |  10334000 | PA      | $10226580.14  | 0.52%             | 2030-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Talen Energy Supply LLC                                         | Talen Energy Supply LLC                                         | CUSIP: 87422VAN8<br>LEI: K5K33XN0PQAU1XF7NN66 | Long             | DBT              | CORP              | US        |   2823000 | PA      | $2923790.27   | 0.15%             | 2036-02-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Knife River Corp.                                               | Knife River Corp.                                               | CUSIP: 498894AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5516000 | PA      | $5778385.09   | 0.29%             | 2031-05-01      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Sinclair Television Group, Inc.                                 | Sinclair Television Group, Inc.                                 | CUSIP: 829259BH2<br>LEI: 549300CQGEN0CH65UD62 | Long             | DBT              | CORP              | US        |   6125000 | PA      | $6241926.25   | 0.31%             | 2033-02-15      | Fixed         | 8.12%                 | Yes           |                  2 | On Loan: No      |
| Rivers Enterprise Lender LLC                                    | Rivers Enterprise Lender LLC                                    | CUSIP: 76884GAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4503000 | PA      | $4539701.75   | 0.23%             | 2030-10-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Cerdia Finanz GmbH                                              | Cerdia Finanz GmbH                                              | CUSIP: 15679GAC6<br>LEI: 391200KURNDJSX9GX570 | Long             | DBT              | CORP              | DE        |   6331000 | PA      | $6595721.71   | 0.33%             | 2031-10-03      | Fixed         | 9.38%                 | Yes           |                  2 | On Loan: No      |
| OneMain Finance Corp.                                           | OneMain Finance Corp.                                           | CUSIP: 682691AH3<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |   5494000 | PA      | $5649798.85   | 0.28%             | 2029-05-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Bombardier, Inc.                                                | Bombardier, Inc.                                                | CUSIP: 097751CA7<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |   1283000 | PA      | $1383718.07   | 0.07%             | 2030-11-15      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| Venture Global Plaquemines LNG LLC                              | Venture Global Plaquemines LNG LLC                              | CUSIP: 922966AA4<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |   1997000 | PA      | $2196098.90   | 0.11%             | 2033-05-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Novelis Corp.                                                   | Novelis Corp.                                                   | CUSIP: 670001AE6<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |   6620000 | PA      | $6398751.66   | 0.32%             | 2030-01-30      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Azorra Finance Ltd.                                             | Azorra Finance Ltd.                                             | CUSIP: 05480AAB1<br>LEI: 254900MC1HXDAVUUP395 | Long             | DBT              | CORP              | KY        |   2338000 | PA      | $2445461.49   | 0.12%             | 2031-01-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Petra Diamonds US Treasury plc                                  | Petra Diamonds US Treasury plc                                  | CUSIP: N/A<br>LEI: 635400LZYOO6WHAO2H58       | Long             | DBT              | CORP              | GB        |   2962036 | PA      | $1688617.88   | 0.09%             | 2026-03-08      | Fixed         | 9.75%                 | Yes           |                  2 | On Loan: No      |
| Acrisure LLC                                                    | Acrisure LLC                                                    | CUSIP: 00489LAH6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1700000 | PA      | $1683022.47   | 0.08%             | 2029-08-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| USA Compression Partners LP                                     | USA Compression Partners LP                                     | CUSIP: 91740PAG3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   8607000 | PA      | $8889653.88   | 0.45%             | 2029-03-15      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| Forvia SE                                                       | Forvia SE                                                       | CUSIP: 31209DAC9<br>LEI: 969500F0VMZLK2IULV85 | Long             | DBT              | CORP              | FR        |   4934000 | PA      | $5004911.45   | 0.25%             | 2033-09-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Ball Corp.                                                      | Ball Corp.                                                      | CUSIP: 058498AW6<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | DBT              | CORP              | US        |   8993000 | PA      | $8222263.39   | 0.41%             | 2030-08-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| Allied Universal Holdco LLC                                     | Allied Universal Holdco LLC                                     | CUSIP: 019576AD9<br>LEI: 98450038B4549046D794 | Long             | DBT              | CORP              | US        |   5461000 | PA      | $5686079.65   | 0.29%             | 2031-02-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| Amsted Industries, Inc.                                         | Amsted Industries, Inc.                                         | CUSIP: 032177AK3<br>LEI: N2VLGYMEEBIU3PFSUY86 | Long             | DBT              | CORP              | US        |   4473000 | PA      | $4629264.26   | 0.23%             | 2033-03-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| PennyMac Financial Services, Inc.                               | PennyMac Financial Services, Inc.                               | CUSIP: 70932MAF4<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |  13383000 | PA      | $13843877.06  | 0.70%             | 2033-02-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| CWCapital COBALT II LLC                                         | CWCapital COBALT II LLC, Series 2006-2A, Class F                | CUSIP: 12668CAG6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    976590 | PA      | $97.66        | 0.00%             | 2050-04-26      | Floating      | 2.29%                 | Yes           |                  2 | On Loan: No      |
| Encompass Health Corp.                                          | Encompass Health Corp.                                          | CUSIP: 29261AAE0<br>LEI: 549300FVRPM9DRQZRG64 | Long             | DBT              | CORP              | US        |   2297000 | PA      | $2240791.26   | 0.11%             | 2031-04-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Venture Global LNG, Inc.                                        | Venture Global LNG, Inc.                                        | CUSIP: 92332YAF8<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |   7195000 | PA      | $6724920.43   | 0.34%             | 2029-09-30      | Variable      | 9.00%                 | Yes           |                  2 | On Loan: No      |
| Valaris Ltd.                                                    | Valaris Ltd.                                                    | CUSIP: 91889FAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   5381000 | PA      | $5611882.57   | 0.28%             | 2030-04-30      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| Iron Mountain, Inc.                                             | Iron Mountain, Inc.                                             | CUSIP: 46284VAE1<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |   5087000 | PA      | $5084352.22   | 0.26%             | 2028-03-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Clarios Global LP                                               | Clarios Global LP                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | CA        |   3196000 | PA      | $3757538.28   | 0.19%             | 2031-06-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Acushnet Co.                                                    | Acushnet Co.                                                    | CUSIP: 005095AA2<br>LEI: 549300H805O14KEFES79 | Long             | DBT              | CORP              | US        |   5636000 | PA      | $5846817.34   | 0.29%             | 2028-10-15      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Phoenix Aviation Capital Ltd.                                   | Phoenix Aviation Capital Ltd.                                   | CUSIP: 71910DAA9<br>LEI: 8945008YQAKXZQ3VYJ15 | Long             | DBT              | CORP              | IE        |   3945000 | PA      | $4155868.14   | 0.21%             | 2030-07-15      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| LTRI Holdings LP                                                | LTRI Holdings LP                                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      3250 | NS      | $486882.50    | 0.02%             |  |  |  | No            |                  3 | On Loan: No      |
| Directv Financing LLC                                           | Directv Financing LLC                                           | CUSIP: 25461LAB8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2447000 | PA      | $2432667.43   | 0.12%             | 2030-02-01      | Fixed         | 8.88%                 | Yes           |                  2 | On Loan: No      |
| Macy's Retail Holdings LLC                                      | Macy's Retail Holdings LLC                                      | CUSIP: 55617LAS1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5591000 | PA      | $5891583.34   | 0.30%             | 2033-08-01      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| OneMain Finance Corp.                                           | OneMain Finance Corp.                                           | CUSIP: 682691AF7<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |   3459000 | PA      | $3613036.19   | 0.18%             | 2031-05-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Carvana Co.                                                     | Carvana Co.                                                     | CUSIP: 146869AM4<br>LEI: 5493003WEAK2PJ5WS063 | Long             | DBT              | CORP              | US        |  11928500 | PA      | $13273307.16  | 0.67%             | 2031-06-01      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| Zebra Technologies Corp.                                        | Zebra Technologies Corp.                                        | CUSIP: 989207AD7<br>LEI: PO0I32GKZ3HZMMDPZZ08 | Long             | DBT              | CORP              | US        |   7174000 | PA      | $7434789.25   | 0.37%             | 2032-06-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Mattamy Group Corp.                                             | Mattamy Group Corp.                                             | CUSIP: 57701RAJ1<br>LEI: 5493008TNY7A82WCXU31 | Long             | DBT              | CORP              | CA        |   2226000 | PA      | $2217347.98   | 0.11%             | 2027-12-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Tallgrass Energy Partners LP                                    | Tallgrass Energy Partners LP                                    | CUSIP: 87470LAD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   9534000 | PA      | $9476530.00   | 0.48%             | 2028-01-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Opal Bidco SAS                                                  | Opal Bidco SAS                                                  | CUSIP: 68348BAA1<br>LEI: 969500R96XT7XY2UJ564 | Long             | DBT              | CORP              | FR        |   2928000 | PA      | $3015689.47   | 0.15%             | 2032-03-31      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Bausch Health Cos., Inc.                                        | Bausch Health Cos., Inc.                                        | CUSIP: 071734AJ6<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |   2714000 | PA      | $1954473.53   | 0.10%             | 2030-01-30      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Calpine Corp.                                                   | Calpine Corp.                                                   | CUSIP: 131347CM6<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |   3653000 | PA      | $3644091.79   | 0.18%             | 2028-02-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Venture Global Plaquemines LNG LLC                              | Venture Global Plaquemines LNG LLC                              | CUSIP: 922966AC0<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |   5493000 | PA      | $5753659.33   | 0.29%             | 2034-01-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| MPT Operating Partnership LP                                    | MPT Operating Partnership LP                                    | CUSIP: 55342UAJ3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2536000 | PA      | $2073463.27   | 0.10%             | 2029-08-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Performance Food Group, Inc.                                    | Performance Food Group, Inc.                                    | CUSIP: 69346VAA7<br>LEI: 549300OMUOGBYK0FFO76 | Long             | DBT              | CORP              | US        |   5184000 | PA      | $5185109.38   | 0.26%             | 2027-10-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| SCIH Salt Holdings, Inc.                                        | SCIH Salt Holdings, Inc.                                        | CUSIP: 78433BAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   8144000 | PA      | $8072220.74   | 0.41%             | 2029-05-01      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Husky Injection Molding Systems Ltd.                            | Husky Injection Molding Systems Ltd.                            | CUSIP: 44805RAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   5855000 | PA      | $6049040.56   | 0.30%             | 2029-02-15      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| IQVIA, Inc.                                                     | IQVIA, Inc.                                                     | CUSIP: 46266TAA6<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |   4355000 | PA      | $4353611.93   | 0.22%             | 2027-05-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Chemours Co. (The)                                              | Chemours Co. (The)                                              | CUSIP: 163851AH1<br>LEI: 549300M1BOLNXL8DOV14 | Long             | DBT              | CORP              | US        |   7497000 | PA      | $6578699.22   | 0.33%             | 2029-11-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Qnity Electronics, Inc.                                         | Qnity Electronics, Inc.                                         | CUSIP: 74743LAB6<br>LEI: 254900RSUG4J9TFFZX53 | Long             | DBT              | CORP              | US        |   2246000 | PA      | $2306549.91   | 0.12%             | 2033-08-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| IQVIA, Inc.                                                     | IQVIA, Inc.                                                     | CUSIP: 46266TAG3<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |   2771000 | PA      | $2888119.09   | 0.15%             | 2032-06-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Freedom Mortgage Holdings LLC                                   | Freedom Mortgage Holdings LLC                                   | CUSIP: 35641AAA6<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |   5333000 | PA      | $5599650.00   | 0.28%             | 2029-02-01      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| goeasy Ltd.                                                     | goeasy Ltd.                                                     | CUSIP: 380355AR8<br>LEI: 5493009DJVZG2P8YV435 | Long             | DBT              | CORP              | CA        |   2815000 | PA      | $2750933.98   | 0.14%             | 2031-02-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Alliant Holdings Intermediate LLC                               | Alliant Holdings Intermediate LLC                               | CUSIP: 01883LAD5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3110000 | PA      | $3101379.70   | 0.16%             | 2029-11-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Anywhere Real Estate Group LLC                                  | Anywhere Real Estate Group LLC                                  | CUSIP: 75606DAQ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4757000 | PA      | $4379034.94   | 0.22%             | 2030-04-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| TransDigm, Inc.                                                 | TransDigm, Inc.                                                 | CUSIP: 893647BR7<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |   3860000 | PA      | $3936146.22   | 0.20%             | 2028-08-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Ziggo Bond Co. BV                                               | Ziggo Bond Co. BV                                               | CUSIP: 98953GAD7<br>LEI: 213800JYI4P7V5QDOG59 | Long             | DBT              | CORP              | NL        |  10139000 | PA      | $8971782.40   | 0.45%             | 2030-02-28      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Fortescue Treasury Pty. Ltd.                                    | Fortescue Treasury Pty. Ltd.                                    | CUSIP: 30251GBC0<br>LEI: 549300EFD6S2NFE9D745 | Long             | DBT              | CORP              | AU        |   9774000 | PA      | $9459980.93   | 0.48%             | 2031-04-01      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Buckeye Partners LP                                             | Buckeye Partners LP                                             | CUSIP: 118230AW1<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |   5179000 | PA      | $5405223.90   | 0.27%             | 2030-02-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Vital Energy, Inc.                                              | Vital Energy, Inc.                                              | CUSIP: 516806AK2<br>LEI: 549300X0PTWU2QSLSL14 | Long             | DBT              | CORP              | US        |   4442000 | PA      | $4203722.24   | 0.21%             | 2032-04-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| AmWINS Group, Inc.                                              | AmWINS Group, Inc.                                              | CUSIP: 031921AB5<br>LEI: 549300SJE7MUB8NMRG61 | Long             | DBT              | CORP              | US        |   2273000 | PA      | $2195243.62   | 0.11%             | 2029-06-30      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| CD&R Smokey Buyer, Inc.                                         | CD&R Smokey Buyer, Inc.                                         | CUSIP: 12515KAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5136000 | PA      | $3594844.59   | 0.18%             | 2029-10-15      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| Axon Enterprise, Inc.                                           | Axon Enterprise, Inc.                                           | CUSIP: 05464CAC5<br>LEI: 549300QP2IEEGFE16681 | Long             | DBT              | CORP              | US        |   6847000 | PA      | $7032129.32   | 0.35%             | 2030-03-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Hilton Domestic Operating Co., Inc.                             | Hilton Domestic Operating Co., Inc.                             | CUSIP: 432833AN1<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |   6399000 | PA      | $5895196.94   | 0.30%             | 2032-02-15      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| Altice France SA                                                | Altice France SA                                                | CUSIP: 02090DAD0<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |   1473201 | PA      | $1410520.63   | 0.07%             | 2032-03-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Scripps Escrow II, Inc.                                         | Scripps Escrow II, Inc.                                         | CUSIP: 81105DAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4066000 | PA      | $3676381.20   | 0.19%             | 2029-01-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Tronox, Inc.                                                    | Tronox, Inc.                                                    | CUSIP: 897051AD0<br>LEI: 549300EPZ4YXC7E5P181 | Long             | DBT              | CORP              | US        |   2273000 | PA      | $2074010.44   | 0.10%             | 2030-09-30      | Fixed         | 9.12%                 | Yes           |                  2 | On Loan: No      |
| Altice Financing SA                                             | Altice Financing SA                                             | CUSIP: 02154CAH6<br>LEI: 549300DIYGW8HVDF7Q17 | Long             | DBT              | CORP              | LU        |   3235000 | PA      | $2353527.20   | 0.12%             | 2029-08-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Manitowoc Co., Inc. (The)                                       | Manitowoc Co., Inc. (The)                                       | CUSIP: 563571AN8<br>LEI: 2RTSLGQ89VMY18RHX631 | Long             | DBT              | CORP              | US        |   4650000 | PA      | $4886917.50   | 0.25%             | 2031-10-01      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| Venture Global Plaquemines LNG LLC                              | Venture Global Plaquemines LNG LLC                              | CUSIP: 922966AD8<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |   5277000 | PA      | $5588928.75   | 0.28%             | 2036-01-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Clean Harbors, Inc.                                             | Clean Harbors, Inc.                                             | CUSIP: 184496AR8<br>LEI: 5493000SJVZVZJKHJF48 | Long             | DBT              | CORP              | US        |   3967000 | PA      | $4054253.69   | 0.20%             | 2033-10-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Maxeda DIY Holding BV                                           | Maxeda DIY Holding BV                                           | CUSIP: N/A<br>LEI: 724500KEZU4CPEQLGZ87       | Long             | DBT              | CORP              | NL        |   2955000 | PA      | $3016200.21   | 0.15%             | 2026-10-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Versant Media Group, Inc.                                       | Versant Media Group, Inc.                                       | CUSIP: 925283AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2290000 | PA      | $2334259.17   | 0.12%             | 2031-01-30      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| White Cap Buyer LLC                                             | White Cap Buyer LLC                                             | CUSIP: 96350RAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   7664000 | PA      | $7664074.49   | 0.39%             | 2028-10-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Cornerstone Building Brands, Inc.                               | Cornerstone Building Brands, Inc.                               | CUSIP: 21925DAA7<br>LEI: 549300IW41QEWQ6T0H29 | Long             | DBT              | CORP              | US        |   4999000 | PA      | $3799806.39   | 0.19%             | 2029-01-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Beach Acquisition Bidco LLC                                     | Beach Acquisition Bidco LLC                                     | CUSIP: 07337JAC1<br>LEI: 254900F2FNX3GBTB6202 | Long             | DBT              | CORP              | US        |   5599000 | PA      | $6011455.93   | 0.30%             | 2033-07-15      | Fixed         | 10.00%                | Yes           |                  2 | On Loan: No      |
| MIWD Holdco II LLC                                              | MIWD Holdco II LLC                                              | CUSIP: 55337PAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5673000 | PA      | $5504506.23   | 0.28%             | 2030-02-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| 1011778 BC ULC                                                  | 1011778 BC ULC                                                  | CUSIP: 68245XAR0<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   7456000 | PA      | $7661740.86   | 0.39%             | 2029-06-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| SPX FLOW, Inc.                                                  | SPX FLOW, Inc.                                                  | CUSIP: 758071AA2<br>LEI: 5493003YXEKRBINIEM78 | Long             | DBT              | CORP              | US        |   7002000 | PA      | $7165083.58   | 0.36%             | 2030-04-01      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| Banijay Entertainment SAS                                       | Banijay Entertainment SAS                                       | CUSIP: 060335AB2<br>LEI: 969500CE0IE2EZ5VBG13 | Long             | DBT              | CORP              | FR        |   6897000 | PA      | $7157982.48   | 0.36%             | 2029-05-01      | Fixed         | 8.12%                 | Yes           |                  2 | On Loan: No      |
| RB Global Holdings, Inc.                                        | RB Global Holdings, Inc.                                        | CUSIP: 76774LAC1<br>LEI: 254900LH3N0EGB1LQ203 | Long             | DBT              | CORP              | US        |  11477000 | PA      | $11977730.03  | 0.60%             | 2031-03-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| GFL Environmental, Inc.                                         | GFL Environmental, Inc.                                         | CUSIP: 36168QAL8<br>LEI: 894500E7NLBY9VZRT696 | Long             | DBT              | CORP              | CA        |   4988000 | PA      | $4879520.98   | 0.25%             | 2028-08-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Macy's Retail Holdings LLC                                      | Macy's Retail Holdings LLC                                      | CUSIP: 55617LAQ5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    417000 | PA      | $416968.02    | 0.02%             | 2030-03-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Post Holdings, Inc.                                             | Post Holdings, Inc.                                             | CUSIP: 737446AQ7<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |  10094000 | PA      | $9786563.00   | 0.49%             | 2030-04-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| CWCapital COBALT II LLC                                         | CWCapital COBALT II LLC, Series 2006-2A, Class G                | CUSIP: 12668CAH4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3124927 | PA      | $312.49       | 0.00%             | 2050-04-26      | Floating      | 2.49%                 | Yes           |                  2 | On Loan: No      |
| US Acute Care Solutions LLC                                     | US Acute Care Solutions LLC                                     | CUSIP: 90367UAD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5946000 | PA      | $6054871.26   | 0.30%             | 2029-05-15      | Fixed         | 9.75%                 | Yes           |                  2 | On Loan: No      |
| Cloud Software Group, Inc.                                      | Cloud Software Group, Inc.                                      | CUSIP: 18912UAA0<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |   1668000 | PA      | $1725279.12   | 0.09%             | 2029-09-30      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| SS&C Technologies, Inc.                                         | SS&C Technologies, Inc.                                         | CUSIP: 78466CAC0<br>LEI: 549300KY09TR3J12JU49 | Long             | DBT              | CORP              | US        |   6953000 | PA      | $6956907.59   | 0.35%             | 2027-09-30      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Clarios Global LP                                               | Clarios Global LP                                               | CUSIP: 18060TAD7<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   3670000 | PA      | $3804615.60   | 0.19%             | 2030-02-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Delek Logistics Partners LP                                     | Delek Logistics Partners LP                                     | CUSIP: 24665FAE2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3060000 | PA      | $3104409.78   | 0.16%             | 2033-06-30      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Hawaiian Electric Co., Inc.                                     | Hawaiian Electric Co., Inc.                                     | CUSIP: 419866AV0<br>LEI: 549300PQE8D806LWQV52 | Long             | DBT              | CORP              | US        |   4412000 | PA      | $4460580.53   | 0.22%             | 2033-10-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Qnity Electronics, Inc.                                         | Qnity Electronics, Inc.                                         | CUSIP: 74743LAA8<br>LEI: 254900RSUG4J9TFFZX53 | Long             | DBT              | CORP              | US        |   5099000 | PA      | $5188910.67   | 0.26%             | 2032-08-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Viking Ocean Cruises Ship VII Ltd.                              | Viking Ocean Cruises Ship VII Ltd.                              | CUSIP: 92682RAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   7423000 | PA      | $7415688.35   | 0.37%             | 2029-02-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Bread Financial Holdings, Inc.                                  | Bread Financial Holdings, Inc.                                  | CUSIP: 018581AR9<br>LEI: 549300G8S4PO686J7H97 | Long             | DBT              | CORP              | US        |   5655000 | PA      | $5693691.74   | 0.29%             | 2031-05-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Level 3 Financing, Inc.                                         | Level 3 Financing, Inc.                                         | CUSIP: 527298CN1<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |   2827793 | PA      | $2905283.01   | 0.15%             | 2034-03-31      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Medline Borrower LP                                             | Medline Borrower LP                                             | CUSIP: 58506DAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6232000 | PA      | $6411188.70   | 0.32%             | 2029-04-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| FTAI Aviation Investors LLC                                     | FTAI Aviation Investors LLC                                     | CUSIP: 34960PAE1<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |   4279000 | PA      | $4547460.18   | 0.23%             | 2030-12-01      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| Altice France SA                                                | Altice France SA                                                | CUSIP: 02090DAA6<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |   2572134 | PA      | $2620670.86   | 0.13%             | 2029-11-01      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| Fiesta Purchaser, Inc.                                          | Fiesta Purchaser, Inc.                                          | CUSIP: 31659AAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3704000 | PA      | $3985757.91   | 0.20%             | 2032-09-15      | Fixed         | 9.62%                 | Yes           |                  2 | On Loan: No      |
| Wabash National Corp.                                           | Wabash National Corp.                                           | CUSIP: 929566AL1<br>LEI: 5299004ZAWHQZI5XO485 | Long             | DBT              | CORP              | US        |   6248000 | PA      | $5506471.74   | 0.28%             | 2028-10-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Kingpin Intermediate Holdings LLC                               | Kingpin Intermediate Holdings LLC                               | CUSIP: 49579RAB4<br>LEI: 549300HRZOJTMNZCST05 | Long             | DBT              | CORP              | US        |   5706000 | PA      | $5348600.13   | 0.27%             | 2032-10-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| AECOM                                                           | AECOM                                                           | CUSIP: 00766TAE0<br>LEI: 0EEB8GF0W0NPCIHZX097 | Long             | DBT              | CORP              | US        |   8511000 | PA      | $8734498.86   | 0.44%             | 2033-08-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| XHR LP                                                          | XHR LP                                                          | CUSIP: 98372MAC9<br>LEI: 549300M88BPT83ZL2164 | Long             | DBT              | CORP              | US        |   7035000 | PA      | $6876929.88   | 0.35%             | 2029-06-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Acrisure LLC                                                    | Acrisure LLC                                                    | CUSIP: 004961AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   7685000 | PA      | $7881428.60   | 0.40%             | 2032-07-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Primo Water Holdings, Inc.                                      | Primo Water Holdings, Inc.                                      | CUSIP: 74168RAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   8359000 | PA      | $8129036.97   | 0.41%             | 2029-04-30      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Parkland Corp.                                                  | Parkland Corp.                                                  | CUSIP: 70137WAN8<br>LEI: 549300UY5C6HUV0XLS53 | Long             | DBT              | CORP              | CA        |   2812000 | PA      | $2870790.48   | 0.14%             | 2032-08-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| TransDigm, Inc.                                                 | TransDigm, Inc.                                                 | CUSIP: 893647BP1<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |   5775000 | PA      | $5680279.03   | 0.29%             | 2029-01-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Avation Capital SA                                              | Avation Capital SA                                              | CUSIP: 05351CAA5<br>LEI: 54930056OEYSV06OMD90 | Long             | DBT              | CORP              | LU        |   6915454 | PA      | $6917507.47   | 0.35%             | 2026-10-31      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| Wynn Macau Ltd.                                                 | Wynn Macau Ltd.                                                 | CUSIP: 98313RAL0<br>LEI: 254900NMDQ8ENTHU1I31 | Long             | DBT              | CORP              | KY        |   2482000 | PA      | $2501156.08   | 0.13%             | 2034-02-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Dealer Tire LLC                                                 | Dealer Tire LLC                                                 | CUSIP: 24229JAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5539000 | PA      | $5375364.65   | 0.27%             | 2028-02-01      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Builders FirstSource, Inc.                                      | Builders FirstSource, Inc.                                      | CUSIP: 12008RAT4<br>LEI: 549300W0SKP6L3H7DP63 | Long             | DBT              | CORP              | US        |   3474000 | PA      | $3647533.25   | 0.18%             | 2035-05-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Matador Resources Co.                                           | Matador Resources Co.                                           | CUSIP: 576485AG1<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | DBT              | CORP              | US        |   2537000 | PA      | $2560378.46   | 0.13%             | 2032-04-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Kraken Oil & Gas Partners LLC                                   | Kraken Oil & Gas Partners LLC                                   | CUSIP: 50076PAA6<br>LEI: 549300DR5HSL4YAU3X12 | Long             | DBT              | CORP              | US        |   3952000 | PA      | $3869251.44   | 0.19%             | 2029-08-15      | Fixed         | 7.62%                 | Yes           |                  2 | On Loan: No      |
| Iliad Holding SAS                                               | Iliad Holding SAS                                               | CUSIP: N/A<br>LEI: 9695009BGMXB527HV965       | Long             | DBT              | CORP              | FR        |   2469000 | PA      | $3048274.79   | 0.15%             | 2031-04-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| CSC Holdings LLC                                                | CSC Holdings LLC                                                | CUSIP: 126307AS6<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |   7540000 | PA      | $6252713.52   | 0.31%             | 2028-02-01      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| TrueNoord Capital DAC                                           | TrueNoord Capital DAC                                           | CUSIP: 89785GAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |   4505000 | PA      | $4746098.59   | 0.24%             | 2030-03-01      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| KeHE Distributors LLC                                           | KeHE Distributors LLC                                           | CUSIP: 487526AC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   7998000 | PA      | $8373976.94   | 0.42%             | 2029-02-15      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| NRG Energy, Inc.                                                | NRG Energy, Inc.                                                | CUSIP: 629377DD1<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |   8558000 | PA      | $8705306.80   | 0.44%             | 2036-01-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Wynn Macau Ltd.                                                 | Wynn Macau Ltd.                                                 | CUSIP: 98313RAH9<br>LEI: 254900NMDQ8ENTHU1I31 | Long             | DBT              | CORP              | KY        |   7594000 | PA      | $7586663.44   | 0.38%             | 2028-08-26      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Tallgrass Energy Partners LP                                    | Tallgrass Energy Partners LP                                    | CUSIP: 87470LAL5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2718000 | PA      | $2798167.41   | 0.14%             | 2029-02-15      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| IAMGOLD Corp.                                                   | IAMGOLD Corp.                                                   | CUSIP: 450913AF5<br>LEI: 254900E7II30XAB9LA72 | Long             | DBT              | CORP              | CA        |   4579000 | PA      | $4561855.31   | 0.23%             | 2028-10-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Bausch Health Cos., Inc.                                        | Bausch Health Cos., Inc.                                        | CUSIP: 071734AN7<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |   4914000 | PA      | $4471740.00   | 0.23%             | 2028-06-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Alliant Holdings Intermediate LLC                               | Alliant Holdings Intermediate LLC                               | CUSIP: 01883LAF0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4848000 | PA      | $5021306.30   | 0.25%             | 2031-01-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Weekley Homes LLC                                               | Weekley Homes LLC                                               | CUSIP: 948565AD8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4879000 | PA      | $4765109.02   | 0.24%             | 2028-09-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Venture Global LNG, Inc.                                        | Venture Global LNG, Inc.                                        | CUSIP: 92332YAB7<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |   7967000 | PA      | $8179209.01   | 0.41%             | 2031-06-01      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| Axon Enterprise, Inc.                                           | Axon Enterprise, Inc.                                           | CUSIP: 05464CAD3<br>LEI: 549300QP2IEEGFE16681 | Long             | DBT              | CORP              | US        |   2241000 | PA      | $2316308.31   | 0.12%             | 2033-03-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| EMRLD Borrower LP                                               | EMRLD Borrower LP                                               | CUSIP: 29103CAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6226000 | PA      | $6400521.01   | 0.32%             | 2030-12-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Michaels Cos., Inc. (The)                                       | Michaels Cos., Inc. (The)                                       | CUSIP: 55916AAA2<br>LEI: 549300H9LWMBP7HYLR98 | Long             | DBT              | CORP              | US        |   2994000 | PA      | $2795741.09   | 0.14%             | 2028-05-01      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Alliant Holdings Intermediate LLC                               | Alliant Holdings Intermediate LLC                               | CUSIP: 01883LAG8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4605000 | PA      | $4722367.64   | 0.24%             | 2031-10-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Shift4 Payments LLC                                             | Shift4 Payments LLC                                             | CUSIP: 82453AAB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6612000 | PA      | $6829094.24   | 0.34%             | 2032-08-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| 1011778 BC ULC                                                  | 1011778 BC ULC                                                  | CUSIP: 68245XAT6<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   4006000 | PA      | $4077190.43   | 0.21%             | 2029-09-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| IQVIA, Inc.                                                     | IQVIA, Inc.                                                     | CUSIP: 46266TAD0<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |   6697000 | PA      | $6955155.96   | 0.35%             | 2030-05-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| CCO Holdings LLC                                                | CCO Holdings LLC                                                | CUSIP: 1248EPCE1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  12408000 | PA      | $11631435.39  | 0.59%             | 2030-08-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Park Intermediate Holdings LLC                                  | Park Intermediate Holdings LLC                                  | CUSIP: 70052LAC7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6055000 | PA      | $5880954.47   | 0.30%             | 2029-05-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Uniti Group LP                                                  | Uniti Group LP                                                  | CUSIP: 91327TAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4192000 | PA      | $3925906.09   | 0.20%             | 2032-06-15      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| CNX Resources Corp.                                             | CNX Resources Corp.                                             | CUSIP: 12653CAL2<br>LEI: 549300JK3KH8PWM3B226 | Long             | DBT              | CORP              | US        |   5827000 | PA      | $6075492.42   | 0.31%             | 2032-03-01      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Post Holdings, Inc.                                             | Post Holdings, Inc.                                             | CUSIP: 737446AX2<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |   4837000 | PA      | $4893655.78   | 0.25%             | 2034-10-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| NRG Energy, Inc.                                                | NRG Energy, Inc.                                                | CUSIP: 629377DC3<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |   4660000 | PA      | $4692855.14   | 0.24%             | 2034-01-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Rocket Mortgage LLC                                             | Rocket Mortgage LLC                                             | CUSIP: 77313LAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1816000 | PA      | $1672334.24   | 0.08%             | 2033-10-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Consolidated Energy Finance SA                                  | Consolidated Energy Finance SA                                  | CUSIP: 20914UAE6<br>LEI: 549300PUNIS0USNSL750 | Long             | DBT              | CORP              | LU        |   1100000 | PA      | $1053738.95   | 0.05%             | 2026-05-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Terraform Global Operating LP                                   | Terraform Global Operating LP                                   | CUSIP: 88104UAC7<br>LEI: 549300LC7QMVR79H5O86 | Long             | DBT              | CORP              | US        |   1664000 | PA      | $1653228.76   | 0.08%             | 2026-03-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Gulfport Energy Operating Corp.                                 | Gulfport Energy Operating Corp.                                 | CUSIP: 402635AT3<br>LEI: 549300FJX18IDUFPHD40 | Long             | DBT              | CORP              | US        |   7257000 | PA      | $7409514.56   | 0.37%             | 2029-09-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Wyndham Hotels & Resorts, Inc.                                  | Wyndham Hotels & Resorts, Inc.                                  | CUSIP: 98311AAB1<br>LEI: 549300FE3MQ4RVXXC673 | Long             | DBT              | CORP              | US        |   7849000 | PA      | $7714856.74   | 0.39%             | 2028-08-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| JB Poindexter & Co., Inc.                                       | JB Poindexter & Co., Inc.                                       | CUSIP: 465965AC5<br>LEI: 549300W6P81HOZZGPQ16 | Long             | DBT              | CORP              | US        |   4488000 | PA      | $4696521.46   | 0.24%             | 2031-12-15      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| Civitas Resources, Inc.                                         | Civitas Resources, Inc.                                         | CUSIP: 17888HAB9<br>LEI: IIVIHPH28S64K95M2381 | Long             | DBT              | CORP              | US        |   5187000 | PA      | $5332519.00   | 0.27%             | 2031-07-01      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| Gray Media, Inc.                                                | Gray Media, Inc.                                                | CUSIP: 389375AP1<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |   3425000 | PA      | $3353309.61   | 0.17%             | 2033-08-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Opal Bidco SAS                                                  | Opal Bidco SAS                                                  | CUSIP: N/A<br>LEI: 969500R96XT7XY2UJ564       | Long             | DBT              | CORP              | FR        |   2694000 | PA      | $3222281.43   | 0.16%             | 2032-03-31      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Allied Universal Holdco LLC                                     | Allied Universal Holdco LLC                                     | CUSIP: 019576AF4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2840000 | PA      | $2913547.48   | 0.15%             | 2030-06-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Permian Resources Operating LLC                                 | Permian Resources Operating LLC                                 | CUSIP: 71424VAA8<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |   3801000 | PA      | $3943358.85   | 0.20%             | 2032-01-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| XPLR Infrastructure Operating Partners LP                       | XPLR Infrastructure Operating Partners LP                       | CUSIP: 65342QAM4<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |   5169000 | PA      | $5317179.72   | 0.27%             | 2029-01-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Azorra Finance Ltd.                                             | Azorra Finance Ltd.                                             | CUSIP: 05480AAA3<br>LEI: 254900MC1HXDAVUUP395 | Long             | DBT              | CORP              | KY        |   8777000 | PA      | $9253345.34   | 0.47%             | 2030-04-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| New Flyer Holdings, Inc.                                        | New Flyer Holdings, Inc.                                        | CUSIP: 64438WAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5162000 | PA      | $5496120.77   | 0.28%             | 2030-07-01      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| AmWINS Group, Inc.                                              | AmWINS Group, Inc.                                              | CUSIP: 031921AC3<br>LEI: 549300SJE7MUB8NMRG61 | Long             | DBT              | CORP              | US        |   2925000 | PA      | $2981566.58   | 0.15%             | 2029-02-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Dotdash Meredith, Inc.                                          | Dotdash Meredith, Inc.                                          | CUSIP: 25849JAA8<br>LEI: 549300R2AA7U9CJUQO13 | Long             | DBT              | CORP              | US        |   4594000 | PA      | $4130189.76   | 0.21%             | 2032-06-15      | Fixed         | 7.62%                 | Yes           |                  2 | On Loan: No      |
| Neptune Bidco US, Inc.                                          | Neptune Bidco US, Inc.                                          | CUSIP: 640695AA0<br>LEI: 549300VG15T3VCYZ4531 | Long             | DBT              | CORP              | US        |   7025000 | PA      | $6937187.50   | 0.35%             | 2029-04-15      | Fixed         | 9.29%                 | Yes           |                  2 | On Loan: No      |
| HUB International Ltd.                                          | HUB International Ltd.                                          | CUSIP: 44332PAH4<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |   6771000 | PA      | $7068910.46   | 0.36%             | 2030-06-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Univision Communications, Inc.                                  | Univision Communications, Inc.                                  | CUSIP: 914906AY8<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |   3409000 | PA      | $3509374.60   | 0.18%             | 2028-08-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| EchoStar Corp.                                                  | EchoStar Corp.                                                  | CUSIP: 278768AC0<br>LEI: 549300EE20907QZ9GT38 | Long             | DBT              | CORP              | US        |   6077534 | PA      | $6690601.96   | 0.34%             | 2029-11-30      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| Concentra Health Services, Inc.                                 | Concentra Health Services, Inc.                                 | CUSIP: 20600DAA1<br>LEI: 984500GB84105F75DE32 | Long             | DBT              | CORP              | US        |   6252000 | PA      | $6521061.07   | 0.33%             | 2032-07-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| iShares Broad USD High Yield Corporate Bond ETF                 | iShares Broad USD High Yield Corporate Bond ETF                 | CUSIP: 46435U853<br>LEI: 549300X7H67ZLUE3IZ46 | Long             |  | RF                | US        |    785000 | NS      | $29500300.00  | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Hightower Holding LLC                                           | Hightower Holding LLC                                           | CUSIP: 43118DAA8<br>LEI: 254900MKOSB7RTMA9K12 | Long             | DBT              | CORP              | US        |   4310000 | PA      | $4314564.29   | 0.22%             | 2029-04-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Ball Corp.                                                      | Ball Corp.                                                      | CUSIP: 058498AZ9<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | DBT              | CORP              | US        |   4589000 | PA      | $4701219.41   | 0.24%             | 2029-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Comstock Resources, Inc.                                        | Comstock Resources, Inc.                                        | CUSIP: 205768AS3<br>LEI: I03QQGEA4SS774AURI46 | Long             | DBT              | CORP              | US        |   8930000 | PA      | $8852663.52   | 0.45%             | 2029-03-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Insulet Corp.                                                   | Insulet Corp.                                                   | CUSIP: 45784PAL5<br>LEI: 549300TZTYD2PYN92D43 | Long             | DBT              | CORP              | US        |   6922000 | PA      | $7211685.70   | 0.36%             | 2033-04-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| ION Platform Finance US, Inc.                                   | ION Platform Finance US, Inc.                                   | CUSIP: 46205QAB4<br>LEI: 213800FKHT3BRRKMCC89 | Long             | DBT              | CORP              | US        |   5651000 | PA      | $5511814.12   | 0.28%             | 2032-09-30      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| Performance Food Group, Inc.                                    | Performance Food Group, Inc.                                    | CUSIP: 71376LAF7<br>LEI: 549300OMUOGBYK0FFO76 | Long             | DBT              | CORP              | US        |   3848000 | PA      | $3950733.90   | 0.20%             | 2032-09-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Energizer Holdings, Inc.                                        | Energizer Holdings, Inc.                                        | CUSIP: 29272WAG4<br>LEI: 5493000D6NN0V57UME20 | Long             | DBT              | CORP              | US        |   3452000 | PA      | $3334811.16   | 0.17%             | 2033-09-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Chord Energy Corp.                                              | Chord Energy Corp.                                              | CUSIP: 674215AN8<br>LEI: 529900FA4V2YNIKZ0M71 | Long             | DBT              | CORP              | US        |   6003000 | PA      | $6130143.54   | 0.31%             | 2033-03-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Rocket Cos., Inc.                                               | Rocket Cos., Inc.                                               | CUSIP: 77311WAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4801000 | PA      | $4979762.35   | 0.25%             | 2029-08-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Zegona Finance plc                                              | Zegona Finance plc                                              | CUSIP: N/A<br>LEI: 254900B3KC1SS7T2TE92       | Long             | DBT              | CORP              | GB        |    537300 | PA      | $654004.44    | 0.03%             | 2029-07-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Maxam Prill Sarl                                                | Maxam Prill Sarl                                                | CUSIP: N/A<br>LEI: 984500C4C5B820A6B691       | Long             | DBT              | CORP              | LU        |   5940000 | PA      | $6964236.42   | 0.35%             | 2030-07-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Osaic Holdings, Inc.                                            | Osaic Holdings, Inc.                                            | CUSIP: 00791GAC1<br>LEI: 549300XL60BDV6UW5C86 | Long             | DBT              | CORP              | US        |   5515000 | PA      | $5658070.13   | 0.28%             | 2033-08-01      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Wildfire Intermediate Holdings LLC                              | Wildfire Intermediate Holdings LLC                              | CUSIP: 96812HAA6<br>LEI: 5493003RHEMQJZEXIR02 | Long             | DBT              | CORP              | US        |   4549000 | PA      | $4539710.49   | 0.23%             | 2029-10-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Baffinland Iron Mines Corp.                                     | Baffinland Iron Mines Corp.                                     | CUSIP: 056623AA9<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   6198000 | PA      | $5574989.44   | 0.28%             | 2026-07-15      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| EchoStar Corp.                                                  | EchoStar Corp.                                                  | CUSIP: 278768AA4<br>LEI: 549300EE20907QZ9GT38 | Long             | DBT              | CORP              | US        |   5122755 | PA      | $5286222.11   | 0.27%             | 2030-11-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Raven Acquisition Holdings LLC                                  | Raven Acquisition Holdings LLC                                  | CUSIP: 75420NAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   7408000 | PA      | $7570087.04   | 0.38%             | 2031-11-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| American Axle & Manufacturing, Inc.                             | American Axle & Manufacturing, Inc.                             | CUSIP: 02406PBD1<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | DBT              | CORP              | US        |   5068000 | PA      | $5075137.82   | 0.26%             | 2033-10-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| TerraForm Power Operating LLC                                   | TerraForm Power Operating LLC                                   | CUSIP: 88104LAG8<br>LEI: 5493000S2OLR3UT5BE13 | Long             | DBT              | CORP              | US        |   1494000 | PA      | $1433202.98   | 0.07%             | 2030-01-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Albertsons Cos., Inc.                                           | Albertsons Cos., Inc.                                           | CUSIP: 01309QAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  12442000 | PA      | $12789567.27  | 0.64%             | 2033-03-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| NCL Corp. Ltd.                                                  | NCL Corp. Ltd.                                                  | CUSIP: 62886HBP5<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |   7212000 | PA      | $7326259.72   | 0.37%             | 2030-03-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Clearway Energy Operating LLC                                   | Clearway Energy Operating LLC                                   | CUSIP: 18539UAD7<br>LEI: 549300Z3NFMM54NWBB87 | Long             | DBT              | CORP              | US        |   7564000 | PA      | $7004556.73   | 0.35%             | 2031-02-15      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| American Axle & Manufacturing, Inc.                             | American Axle & Manufacturing, Inc.                             | CUSIP: 02406PBC3<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | DBT              | CORP              | US        |   2868000 | PA      | $2876527.68   | 0.14%             | 2032-10-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Altice France SA                                                | Altice France SA                                                | CUSIP: 02090DAB4<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |   5717992 | PA      | $5592008.28   | 0.28%             | 2030-10-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Gray Media, Inc.                                                | Gray Media, Inc.                                                | CUSIP: 389375AN6<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |   4529000 | PA      | $4551311.03   | 0.23%             | 2032-07-15      | Fixed         | 9.62%                 | Yes           |                  2 | On Loan: No      |
| Mavis Tire Express Services Topco Corp.                         | Mavis Tire Express Services Topco Corp.                         | CUSIP: 59155LAA0<br>LEI: 254900NVDM4GTLBL9E56 | Long             | DBT              | CORP              | US        |   4166000 | PA      | $4121042.19   | 0.21%             | 2029-05-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| TerraForm Power Operating LLC                                   | TerraForm Power Operating LLC                                   | CUSIP: 88104LAE3<br>LEI: 5493000S2OLR3UT5BE13 | Long             | DBT              | CORP              | US        |   6745000 | PA      | $6720089.77   | 0.34%             | 2028-01-31      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| New Home Co., Inc. (The)                                        | New Home Co., Inc. (The)                                        | CUSIP: 645370AG2<br>LEI: 549300PLCE8TB3TVRQ85 | Long             | DBT              | CORP              | US        |   4677000 | PA      | $4839843.79   | 0.24%             | 2030-11-01      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Fiesta Purchaser, Inc.                                          | Fiesta Purchaser, Inc.                                          | CUSIP: 31659AAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3187000 | PA      | $3363795.64   | 0.17%             | 2031-03-01      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| DISH DBS Corp.                                                  | DISH DBS Corp.                                                  | CUSIP: 25470XBD6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5857000 | PA      | $5056211.69   | 0.25%             | 2029-06-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Permian Resources Operating LLC                                 | Permian Resources Operating LLC                                 | CUSIP: 19416MAB5<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |   4653000 | PA      | $4657066.72   | 0.23%             | 2029-07-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| US Foods, Inc.                                                  | US Foods, Inc.                                                  | CUSIP: 90290MAJ0<br>LEI: 5493000JOOFAOUY1JZ87 | Long             | DBT              | CORP              | US        |   2691000 | PA      | $2726429.38   | 0.14%             | 2033-04-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| RHP Hotel Properties LP                                         | RHP Hotel Properties LP                                         | CUSIP: 749571AJ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   9598000 | PA      | $9896900.92   | 0.50%             | 2028-07-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| PG&E Corp.                                                      | PG&E Corp.                                                      | CUSIP: 69331CAM0<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | DBT              | CORP              | US        |   2900000 | PA      | $2982722.50   | 0.15%             | 2055-03-15      | Variable      | 7.38%                 | No            |                  2 | On Loan: No      |
| Perrigo Finance Unlimited Co.                                   | Perrigo Finance Unlimited Co., Series USD                       | CUSIP: 71429MAD7<br>LEI: 549300E86RB6YCTMRM83 | Long             | DBT              | CORP              | IE        |   7925000 | PA      | $7991894.93   | 0.40%             | 2032-09-30      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Avis Budget Finance plc                                         | Avis Budget Finance plc                                         | CUSIP: N/A<br>LEI: 549300W3BJJPGKCIOI13       | Long             | DBT              | CORP              | JE        |   4875000 | PA      | $5748078.44   | 0.29%             | 2030-07-31      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Jane Street Group                                               | Jane Street Group                                               | CUSIP: 47077WAD0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  13729000 | PA      | $13970300.90  | 0.70%             | 2032-11-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| LBM Acquisition LLC                                             | LBM Acquisition LLC                                             | CUSIP: 52109SAB5<br>LEI: 549300FAEB3VWZL4NI86 | Long             | DBT              | CORP              | US        |   5141000 | PA      | $5378771.25   | 0.27%             | 2031-06-15      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| TransDigm, Inc.                                                 | TransDigm, Inc.                                                 | CUSIP: 893647BU0<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |   3773000 | PA      | $3875569.01   | 0.20%             | 2029-03-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Empire Communities Corp.                                        | Empire Communities Corp.                                        | CUSIP: 29163VAG8<br>LEI: 549300JM1L6KK2QFP273 | Long             | DBT              | CORP              | CA        |   6712000 | PA      | $6863153.30   | 0.35%             | 2029-05-01      | Fixed         | 9.75%                 | Yes           |                  2 | On Loan: No      |
| Starwood Property Trust, Inc.                                   | Starwood Property Trust, Inc.                                   | CUSIP: 85571BBG9<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              | CORP              | US        |   9041000 | PA      | $9168584.96   | 0.46%             | 2031-01-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Prairie Acquiror LP                                             | Prairie Acquiror LP                                             | CUSIP: 73943NAA4<br>LEI: 254900Q6KU2LVSIISH22 | Long             | DBT              | CORP              | US        |   5273000 | PA      | $5412080.65   | 0.27%             | 2029-08-01      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| Miter Brands Acquisition Holdco, Inc.                           | Miter Brands Acquisition Holdco, Inc.                           | CUSIP: 60672JAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1873000 | PA      | $1922544.60   | 0.10%             | 2032-04-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Venture Global LNG, Inc.                                        | Venture Global LNG, Inc.                                        | CUSIP: 92332YAC5<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |   5961000 | PA      | $6415603.74   | 0.32%             | 2029-02-01      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| Stagwell Global LLC                                             | Stagwell Global LLC                                             | CUSIP: 59565JAA9<br>LEI: 984500904E015Z0C1F82 | Long             | DBT              | CORP              | US        |   6768000 | PA      | $6448463.03   | 0.32%             | 2029-08-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Virgin Media Finance plc                                        | Virgin Media Finance plc                                        | CUSIP: 92769VAJ8<br>LEI: 2138001LVYC87DDHT482 | Long             | DBT              | CORP              | GB        |   5484000 | PA      | $4894876.91   | 0.25%             | 2030-07-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| FTAI Aviation Investors LLC                                     | FTAI Aviation Investors LLC                                     | CUSIP: 34960PAD3<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |   6782000 | PA      | $6787011.90   | 0.34%             | 2028-05-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Walker & Dunlop, Inc.                                           | Walker & Dunlop, Inc.                                           | CUSIP: 93148PAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5187000 | PA      | $5308132.01   | 0.27%             | 2033-04-01      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Turning Point Brands, Inc.                                      | Turning Point Brands, Inc.                                      | CUSIP: 90041LAG0<br>LEI: 549300IYG00QF0VVP302 | Long             | DBT              | CORP              | US        |   7159000 | PA      | $7580013.63   | 0.38%             | 2032-03-15      | Fixed         | 7.62%                 | Yes           |                  2 | On Loan: No      |
| Venture Global LNG, Inc.                                        | Venture Global LNG, Inc.                                        | CUSIP: 92332YAA9<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |   4929000 | PA      | $5077486.13   | 0.26%             | 2028-06-01      | Fixed         | 8.12%                 | Yes           |                  2 | On Loan: No      |
| CrossCountry Intermediate HoldCo LLC                            | CrossCountry Intermediate HoldCo LLC                            | CUSIP: 22757VAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3941000 | PA      | $3977352.30   | 0.20%             | 2030-10-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| ContourGlobal Power Holdings SA                                 | ContourGlobal Power Holdings SA                                 | CUSIP: 21220LAB9<br>LEI: 549300O5AGIFK0PQ1516 | Long             | DBT              | CORP              | LU        |   1593000 | PA      | $1640790.00   | 0.08%             | 2030-02-28      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| SS&C Technologies, Inc.                                         | SS&C Technologies, Inc.                                         | CUSIP: 78466CAD8<br>LEI: 549300KY09TR3J12JU49 | Long             | DBT              | CORP              | US        |   2203000 | PA      | $2283920.60   | 0.12%             | 2032-06-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| NCL Corp. Ltd.                                                  | NCL Corp. Ltd.                                                  | CUSIP: 62886HBR1<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |   3947000 | PA      | $4055783.27   | 0.20%             | 2032-02-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Hilton Domestic Operating Co., Inc.                             | Hilton Domestic Operating Co., Inc.                             | CUSIP: 432833AR2<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |   2980000 | PA      | $3054585.94   | 0.15%             | 2033-03-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Albertsons Cos., Inc.                                           | Albertsons Cos., Inc.                                           | CUSIP: 01309QAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1179000 | PA      | $1188319.02   | 0.06%             | 2031-03-31      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Sabre GLBL, Inc.                                                | Sabre GLBL, Inc.                                                | CUSIP: 78573NAL6<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | DBT              | CORP              | US        |   2100000 | PA      | $1995000.00   | 0.10%             | 2029-11-15      | Fixed         | 10.75%                | Yes           |                  2 | On Loan: No      |
| Nabors Industries, Inc.                                         | Nabors Industries, Inc.                                         | CUSIP: 62957HAQ8<br>LEI: 549300VFQWRKICUFNU92 | Long             | DBT              | CORP              | US        |   6838000 | PA      | $6498044.73   | 0.33%             | 2031-08-15      | Fixed         | 8.88%                 | Yes           |                  2 | On Loan: No      |
| Rockies Express Pipeline LLC                                    | Rockies Express Pipeline LLC                                    | CUSIP: 77340RAM9<br>LEI: W2ZGZGZKY5GGNY6F3V51 | Long             | DBT              | CORP              | US        |   5916000 | PA      | $6099679.97   | 0.31%             | 2040-04-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Cleveland-Cliffs, Inc.                                          | Cleveland-Cliffs, Inc.                                          | CUSIP: 185899AP6<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |   2814000 | PA      | $2877294.94   | 0.14%             | 2032-03-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Cable One, Inc.                                                 | Cable One, Inc.                                                 | CUSIP: 12685JAC9<br>LEI: 549300648QS85T0XSH18 | Long             | DBT              | CORP              | US        |   4589000 | PA      | $3625357.04   | 0.18%             | 2030-11-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Uniti Group LP                                                  | Uniti Group LP                                                  | CUSIP: 91327BAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5643000 | PA      | $5281429.74   | 0.27%             | 2029-02-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Frontier Communications Holdings LLC                            | Frontier Communications Holdings LLC                            | CUSIP: 35906ABG2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5700000 | PA      | $5757416.10   | 0.29%             | 2029-05-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Consolidated Energy Finance SA                                  | Consolidated Energy Finance SA                                  | CUSIP: 20914UAF3<br>LEI: 549300PUNIS0USNSL750 | Long             | DBT              | CORP              | LU        |   7571000 | PA      | $5141314.68   | 0.26%             | 2028-10-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Fair Isaac Corp.                                                | Fair Isaac Corp.                                                | CUSIP: 303250AG9<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | DBT              | CORP              | US        |   8268000 | PA      | $8415964.13   | 0.42%             | 2033-05-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| 1011778 BC ULC                                                  | 1011778 BC ULC                                                  | CUSIP: 68245XAM1<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   5590000 | PA      | $5284720.60   | 0.27%             | 2030-10-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Fortrea Holdings, Inc.                                          | Fortrea Holdings, Inc.                                          | CUSIP: 34965KAA5<br>LEI: 5493000FIVFABOVCDU97 | Long             | DBT              | CORP              | US        |   1696000 | PA      | $1628226.48   | 0.08%             | 2030-07-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Rocket Cos., Inc.                                               | Rocket Cos., Inc.                                               | CUSIP: 77311WAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3850000 | PA      | $3971286.55   | 0.20%             | 2030-08-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Bombardier, Inc.                                                | Bombardier, Inc.                                                | CUSIP: 097751CC3<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |   2523000 | PA      | $2648874.99   | 0.13%             | 2032-06-01      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Penske Automotive Group, Inc.                                   | Penske Automotive Group, Inc.                                   | CUSIP: 70959WAK9<br>LEI: 549300W7UTQ0M4C7LB15 | Long             | DBT              | CORP              | US        |   6313000 | PA      | $6065567.02   | 0.31%             | 2029-06-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| OneMain Finance Corp.                                           | OneMain Finance Corp.                                           | CUSIP: 85172FAR0<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |   5093000 | PA      | $5052667.51   | 0.25%             | 2029-11-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Champ Acquisition Corp.                                         | Champ Acquisition Corp.                                         | CUSIP: 15807XAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5315000 | PA      | $5660857.68   | 0.29%             | 2031-12-01      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| Wynn Resorts Finance LLC                                        | Wynn Resorts Finance LLC                                        | CUSIP: 983133AC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1693000 | PA      | $1818066.99   | 0.09%             | 2031-02-15      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| 1261229 BC Ltd.                                                 | 1261229 BC Ltd.                                                 | CUSIP: 68288AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   5556000 | PA      | $5807739.75   | 0.29%             | 2032-04-15      | Fixed         | 10.00%                | Yes           |                  2 | On Loan: No      |
| White Cap Supply Holdings LLC                                   | White Cap Supply Holdings LLC                                   | CUSIP: 96467GAC2<br>LEI: 254900L2N0T6GULCL366 | Long             | DBT              | CORP              | US        |   5648000 | PA      | $5713248.35   | 0.29%             | 2030-11-15      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Freedom Mortgage Holdings LLC                                   | Freedom Mortgage Holdings LLC                                   | CUSIP: 35641AAB4<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |   2228000 | PA      | $2368421.93   | 0.12%             | 2031-05-15      | Fixed         | 9.12%                 | Yes           |                  2 | On Loan: No      |
| Fertitta Entertainment LLC                                      | Fertitta Entertainment LLC                                      | CUSIP: 31556TAC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6787000 | PA      | $6291159.83   | 0.32%             | 2030-01-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Rocket Cos., Inc.                                               | Rocket Cos., Inc.                                               | CUSIP: 77311WAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5170000 | PA      | $5385744.10   | 0.27%             | 2033-08-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Tronox, Inc.                                                    | Tronox, Inc.                                                    | CUSIP: 897051AC2<br>LEI: 549300EPZ4YXC7E5P181 | Long             | DBT              | CORP              | US        |   1689000 | PA      | $1038360.43   | 0.05%             | 2029-03-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Aretec Group, Inc.                                              | Aretec Group, Inc.                                              | CUSIP: 040133AA8<br>LEI: 549300NV2T8A33L0PQ58 | Long             | DBT              | CORP              | US        |   1589000 | PA      | $1602050.46   | 0.08%             | 2029-04-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Amer Sports Co.                                                 | Amer Sports Co.                                                 | CUSIP: 02352NAA7<br>LEI: 549300NRKH9WF70VFC95 | Long             | DBT              | CORP              | US        |   5524000 | PA      | $5750218.85   | 0.29%             | 2031-02-16      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| EURO                                                            | EURO                                                            | CUSIP: N/A<br>LEI: N/A                        | Short            | STIV             |  | XX        |   -645760 | OU      | $-744334.86   | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Aretec Group, Inc.                                              | Aretec Group, Inc.                                              | CUSIP: 04020JAA4<br>LEI: 549300NV2T8A33L0PQ58 | Long             | DBT              | CORP              | US        |   4558000 | PA      | $4959345.57   | 0.25%             | 2030-08-15      | Fixed         | 10.00%                | Yes           |                  2 | On Loan: No      |
| Osaic Holdings, Inc.                                            | Osaic Holdings, Inc.                                            | CUSIP: 00791GAB3<br>LEI: 549300XL60BDV6UW5C86 | Long             | DBT              | CORP              | US        |   1064000 | PA      | $1099214.14   | 0.06%             | 2032-08-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Amentum Holdings, Inc.                                          | Amentum Holdings, Inc.                                          | CUSIP: 02352BAA3<br>LEI: 2549009FJIBLW40CU216 | Long             | DBT              | CORP              | US        |   7636000 | PA      | $7946823.38   | 0.40%             | 2032-08-01      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Zegona Finance plc                                              | Zegona Finance plc                                              | CUSIP: 98927UAA5<br>LEI: 254900B3KC1SS7T2TE92 | Long             | DBT              | CORP              | GB        |   4936000 | PA      | $5244198.90   | 0.26%             | 2029-07-15      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| Novelis Corp.                                                   | Novelis Corp.                                                   | CUSIP: 670001AH9<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |   3318000 | PA      | $3040348.76   | 0.15%             | 2031-08-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Rockies Express Pipeline LLC                                    | Rockies Express Pipeline LLC                                    | CUSIP: 77340RAU1<br>LEI: W2ZGZGZKY5GGNY6F3V51 | Long             | DBT              | CORP              | US        |   3045000 | PA      | $3187024.89   | 0.16%             | 2033-03-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Newell Brands, Inc.                                             | Newell Brands, Inc.                                             | CUSIP: 651229BE5<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |   3575000 | PA      | $3360500.00   | 0.17%             | 2032-05-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Hightower Holding LLC                                           | Hightower Holding LLC                                           | CUSIP: 43118DAB6<br>LEI: 254900MKOSB7RTMA9K12 | Long             | DBT              | CORP              | US        |   2614000 | PA      | $2801818.51   | 0.14%             | 2030-01-31      | Fixed         | 9.12%                 | Yes           |                  2 | On Loan: No      |
| MajorDrive Holdings IV LLC                                      | MajorDrive Holdings IV LLC                                      | CUSIP: 56085RAA8<br>LEI: 25490044R1FR5N8FIT62 | Long             | DBT              | CORP              | US        |   2506000 | PA      | $1957562.90   | 0.10%             | 2029-06-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Acrisure LLC                                                    | Acrisure LLC                                                    | CUSIP: 00489LAL7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1832000 | PA      | $1894797.30   | 0.10%             | 2030-11-06      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Anywhere Real Estate Group LLC                                  | Anywhere Real Estate Group LLC                                  | CUSIP: 75606DAV3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2220000 | PA      | $2417260.32   | 0.12%             | 2030-04-15      | Fixed         | 9.75%                 | Yes           |                  2 | On Loan: No      |
| AthenaHealth Group, Inc.                                        | AthenaHealth Group, Inc.                                        | CUSIP: 60337JAA4<br>LEI: 254900AA3KZN4Q7A5Z33 | Long             | DBT              | CORP              | US        |   6329000 | PA      | $6195858.73   | 0.31%             | 2030-02-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| CSC Holdings LLC                                                | CSC Holdings LLC                                                | CUSIP: 126307BA4<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |   4090000 | PA      | $1532670.24   | 0.08%             | 2030-01-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| TriNet Group, Inc.                                              | TriNet Group, Inc.                                              | CUSIP: 896288AA5<br>LEI: 5299003FJVBETSFKE990 | Long             | DBT              | CORP              | US        |   5130000 | PA      | $4817475.27   | 0.24%             | 2029-03-01      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| Lindblad Expeditions LLC                                        | Lindblad Expeditions LLC                                        | CUSIP: 53523LAB6<br>LEI: 549300MPUWOG67Y2R254 | Long             | DBT              | CORP              | US        |   5054000 | PA      | $5147359.76   | 0.26%             | 2030-09-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Level 3 Financing, Inc.                                         | Level 3 Financing, Inc.                                         | CUSIP: 527298CF8<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |   4326683 | PA      | $3876437.55   | 0.20%             | 2030-10-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| TransDigm, Inc.                                                 | TransDigm, Inc.                                                 | CUSIP: 893647BS5<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |   9903000 | PA      | $10281423.34  | 0.52%             | 2030-12-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| CACI International, Inc.                                        | CACI International, Inc.                                        | CUSIP: 127190AE6<br>LEI: SYRPI2D1O9WRTS2WX210 | Long             | DBT              | CORP              | US        |   6950000 | PA      | $7226054.00   | 0.36%             | 2033-06-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Medline Borrower LP                                             | Medline Borrower LP                                             | CUSIP: 62482BAB8<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |   7992000 | PA      | $7961587.24   | 0.40%             | 2029-10-01      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Life Time, Inc.                                                 | Life Time, Inc.                                                 | CUSIP: 53190FAE5<br>LEI: 549300PALKE96VYH4X17 | Long             | DBT              | CORP              | US        |   7182000 | PA      | $7282907.10   | 0.37%             | 2031-11-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Cloud Software Group, Inc.                                      | Cloud Software Group, Inc.                                      | CUSIP: 18912UAG7<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |   4626000 | PA      | $4636598.17   | 0.23%             | 2033-08-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Veritiv Operating Co.                                           | Veritiv Operating Co.                                           | CUSIP: 92339LAA0<br>LEI: 5493004G8OK5L1UTIY12 | Long             | DBT              | CORP              | US        |   5369000 | PA      | $5587400.18   | 0.28%             | 2030-11-30      | Fixed         | 10.50%                | Yes           |                  2 | On Loan: No      |
| Virtusa Corp.                                                   | Virtusa Corp.                                                   | CUSIP: 92837TAA0<br>LEI: C77OMXDER63WLJCSKT03 | Long             | DBT              | CORP              | US        |   3828000 | PA      | $3672336.29   | 0.18%             | 2028-12-15      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| Viking Cruises Ltd.                                             | Viking Cruises Ltd.                                             | CUSIP: 92676XAH0<br>LEI: 549300IJP90T4MV2GL84 | Long             | DBT              | CORP              | BM        |   4569000 | PA      | $4644692.80   | 0.23%             | 2033-10-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Prestige Brands, Inc.                                           | Prestige Brands, Inc.                                           | CUSIP: 74112BAL9<br>LEI: 549300JBVP4J6D42I235 | Long             | DBT              | CORP              | US        |   4937000 | PA      | $4921499.79   | 0.25%             | 2028-01-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Churchill Downs, Inc.                                           | Churchill Downs, Inc.                                           | CUSIP: 12511VAA6<br>LEI: 529900FODTBQC8MIS994 | Long             | DBT              | CORP              | US        |  12584000 | PA      | $12622683.22  | 0.64%             | 2030-04-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Snap, Inc.                                                      | Snap, Inc.                                                      | CUSIP: 83304AAM8<br>LEI: 549300JNC0L6VP8A2Q35 | Long             | DBT              | CORP              | US        |   1707000 | PA      | $1737548.47   | 0.09%             | 2034-03-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| GFL Environmental, Inc.                                         | GFL Environmental, Inc.                                         | CUSIP: 36168QAQ7<br>LEI: 894500E7NLBY9VZRT696 | Long             | DBT              | CORP              | CA        |   3043000 | PA      | $3183361.42   | 0.16%             | 2031-01-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| HUB International Ltd.                                          | HUB International Ltd.                                          | CUSIP: 44332PAJ0<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |   3413000 | PA      | $3537309.14   | 0.18%             | 2032-01-31      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Bombardier, Inc.                                                | Bombardier, Inc.                                                | CUSIP: 097751CD1<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |   4989000 | PA      | $5237192.92   | 0.26%             | 2033-06-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| XPLR Infrastructure Operating Partners LP                       | XPLR Infrastructure Operating Partners LP                       | CUSIP: 65342QAB8<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |   3689000 | PA      | $3608074.04   | 0.18%             | 2027-09-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| TransDigm, Inc.                                                 | TransDigm, Inc.                                                 | CUSIP: 893647BY2<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |  11465000 | PA      | $11686641.38  | 0.59%             | 2033-05-31      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| CSC Holdings LLC                                                | CSC Holdings LLC                                                | CUSIP: 126307BB2<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |   3025000 | PA      | $1860711.08   | 0.09%             | 2030-12-01      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Acadia Healthcare Co., Inc.                                     | Acadia Healthcare Co., Inc.                                     | CUSIP: 00404AAQ2<br>LEI: 5493005CW985Y9D0NC11 | Long             | DBT              | CORP              | US        |   4563000 | PA      | $4717065.13   | 0.24%             | 2033-03-15      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| New Enterprise Stone & Lime Co., Inc.                           | New Enterprise Stone & Lime Co., Inc.                           | CUSIP: 644274AG7<br>LEI: 549300O5DQ5Y61B8VF38 | Long             | DBT              | CORP              | US        |   2209000 | PA      | $2209521.41   | 0.11%             | 2028-07-15      | Fixed         | 9.75%                 | Yes           |                  2 | On Loan: No      |
| Civitas Resources, Inc.                                         | Civitas Resources, Inc.                                         | CUSIP: 17888HAC7<br>LEI: IIVIHPH28S64K95M2381 | Long             | DBT              | CORP              | US        |   1795000 | PA      | $1855748.19   | 0.09%             | 2030-11-01      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| Civitas Resources, Inc.                                         | Civitas Resources, Inc.                                         | CUSIP: 17888HAA1<br>LEI: IIVIHPH28S64K95M2381 | Long             | DBT              | CORP              | US        |   1288000 | PA      | $1330805.39   | 0.07%             | 2028-07-01      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| Sunoco LP                                                       | Sunoco LP                                                       | CUSIP: 86765KAC3<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |   8261000 | PA      | $8709266.64   | 0.44%             | 2032-05-01      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Garda World Security Corp.                                      | Garda World Security Corp.                                      | CUSIP: 36485MAP4<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | DBT              | CORP              | CA        |   6936000 | PA      | $7057234.34   | 0.36%             | 2032-11-15      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| Baytex Energy Corp.                                             | Baytex Energy Corp.                                             | CUSIP: 07317QAJ4<br>LEI: 549300R5LTV2H7I1I079 | Long             | DBT              | CORP              | CA        |   5086000 | PA      | $5213888.59   | 0.26%             | 2030-04-30      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Iron Mountain, Inc.                                             | Iron Mountain, Inc.                                             | CUSIP: 46284VAQ4<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |   5862000 | PA      | $5995225.67   | 0.30%             | 2033-01-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Gates Corp.                                                     | Gates Corp.                                                     | CUSIP: 367398AA2<br>LEI: 984500F43C791F4C7894 | Long             | DBT              | CORP              | US        |   4572000 | PA      | $4746696.12   | 0.24%             | 2029-07-01      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-12-01

**Name of Applicant:** MFS Series Trust III

**Signature:** James Byrne

**Name of Signer:** James Byrne

**Title:** Assistant Treasurer