# EDGAR Filing Document

**Accession Number:** 0001580353
**File Stem:** 0001752724-25-203947
**Filing Date:** 2025-8
**Character Count:** 136714
**Document Hash:** 807a08a5c7b953f81449dae01c10084d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-203947.hdr.sgml**: 20250826

**ACCESSION NUMBER**: 0001752724-25-203947

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250826

**DATE AS OF CHANGE**: 20250826

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Forethought Variable Insurance Trust
- **CENTRAL INDEX KEY:** 0001580353

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1213

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22865
- **FILM NUMBER:** 251253755

**BUSINESS ADDRESS:**
- **STREET 1:** 10 WEST MARKET STREET
- **STREET 2:** SUITE 2300
- **CITY:** INDIANAPOLIS
- **STATE:** IN
- **ZIP:** 46204
- **BUSINESS PHONE:** 317-223-2700

**MAIL ADDRESS:**
- **STREET 1:** 10 WEST MARKET STREET
- **STREET 2:** SUITE 2300
- **CITY:** INDIANAPOLIS
- **STATE:** IN
- **ZIP:** 46204

## Series and Classes Contracts Data

### Global Atlantic BlackRock High Yield Portfolio (Series ID: S000052678)

| Class ID   | Class Name                                                     | Ticker Symbol   |
|:---|:---|:---|
| C000165384 | Global Atlantic BlackRock High Yield Portfolio Class I Shares  |  |
| C000165385 | Global Atlantic BlackRock High Yield Portfolio Class II Shares |  |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Forethought Variable Insurance Trust

- **b. Investment Company Act file number:** 811-22865

- **c. CIK number of Registrant:** 0001580353

- **d. LEI of Registrant:** 5493006EQMR1BNKF6A36

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

  - **Street Address 1:** 10 West Market Street

  - **City:** Indianapolis

  - **State:** IN

  - **Foreign country:** US

  - **Zip / Postal Code:** 46204

  - **Telephone number:** 877-355-1820

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

- **a. Name of Series:** Global Atlantic BlackRock High Yield Portfolio

- **b. EDGAR series identifier (if any):** S000052678

- **c. LEI of Series:** 549300R5K42RYBV8GI96

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

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

- **b. Date as of which information is reported:** 2025-06-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $44878169.23

**Total Liabilities:** $149803.29

**Net Assets:** $44728365.94

**Delayed Delivery Securities:** $70000.00

**Cash Not Reported:** $2856.55

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 1.71399000 | **1-Year:** 441.55152000 | **5-Year:** 900.33661000 | **10-Year:** 129.60869000 | **30-Year:** 0.00000000

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

- **3-Month:** 101.24254000 | **1-Year:** 4419.81519000 | **5-Year:** 5343.64049000 | **10-Year:** 386.36753000 | **30-Year:** 1.49575000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000165384 | -0.77%               | 1.32%                | 1.85%                |
| Class ID C000165385 | -0.77%               | 1.32%                | 1.74%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-347848.73              | $-274831.35                                |
| Month 2  | $-453948.70              | $807185.20                                 |
| Month 3  | $103300.06               | $420513.66                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| SABRE GLBL INC                              | Sabre GLBL Inc                                                                  | CUSIP: 78573NAH5<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | DBT              | CORP              | US        |     86000 | PA      | $89947.40     | 0.20%             | 2027-12-15      | Fixed         | 11.25%                | No            |                  2 | On Loan: No      |
| NEXSTAR MEDIA INC                           | Nexstar Media Inc                                                               | CUSIP: 65343HAA9<br>LEI: 5493006PK6I4I2OOT688 | Long             | DBT              | CORP              | US        |    158000 | PA      | $157630.37    | 0.35%             | 2027-07-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| PHINIA INC                                  | Phinia Inc                                                                      | CUSIP: 71880KAA9<br>LEI: 254900HG6MORZE1FFM18 | Long             | DBT              | CORP              | US        |     88000 | PA      | $90815.38     | 0.20%             | 2029-04-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| PENNYMAC FIN SVCS INC                       | PennyMac Financial Services Inc                                                 | CUSIP: 70932MAD9<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |     78000 | PA      | $82828.43     | 0.19%             | 2029-12-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| NORDSTROM INC                               | Nordstrom Inc                                                                   | CUSIP: 655664AS9<br>LEI: 549300S3IZB5P35KNV16 | Long             | DBT              | CORP              | US        |     21000 | PA      | $20541.31     | 0.05%             | 2027-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BATH & BODY WORKS INC                       | Bath & Body Works Inc                                                           | CUSIP: 532716AN7<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | DBT              | CORP              | US        |     32000 | PA      | $32627.04     | 0.07%             | 2037-07-15      | Fixed         | 7.60%                 | No            |                  2 | On Loan: No      |
| HELIX ENERGY SOLUTIONS                      | Helix Energy Solutions Group Inc                                                | CUSIP: 42330PAL1<br>LEI: 416AP2JOUTCWEGSOZW41 | Long             | DBT              | CORP              | US        |    127000 | PA      | $134248.89    | 0.30%             | 2029-03-01      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| SINCLAIR TELEVISION GROU                    | Sinclair Television Group Inc                                                   | CUSIP: 829259BH2<br>LEI: 549300CQGEN0CH65UD62 | Long             | DBT              | CORP              | US        |     66000 | PA      | $66798.60     | 0.15%             | 2033-02-15      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| INTELSAT JACKSON HLDG                       | Intelsat Jackson Holdings SA                                                    | CUSIP: 45824TBC8<br>LEI: 8XJ8KF85PBKK1TLMFN29 | Long             | DBT              | CORP              | LU        |     49000 | PA      | $49795.64     | 0.11%             | 2030-03-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| COMPASS MINERALS INTERNA                    | Compass Minerals International Inc                                              | CUSIP: 20451NAJ0<br>LEI: 2549008X9G8XP7YJGC47 | Long             | DBT              | CORP              | US        |    155000 | PA      | $160021.22    | 0.36%             | 2030-07-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| HLF FIN SARL LLC/HERBALI                    | HLF Financing Sarl LLC / Herbalife International Inc                            | CUSIP: 40390DAC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     34000 | PA      | $28586.11     | 0.06%             | 2029-06-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| PENNYMAC FIN SVCS INC                       | PennyMac Financial Services Inc                                                 | CUSIP: 70932MAG2<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |    150000 | PA      | $152983.54    | 0.34%             | 2032-05-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| CREDIT ACCEPTANC                            | Credit Acceptance Corp                                                          | CUSIP: 225310AQ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    284000 | PA      | $300632.46    | 0.67%             | 2028-12-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| INSULET CORPORATION                         | Insulet Corp                                                                    | CUSIP: 45784PAL5<br>LEI: 549300TZTYD2PYN92D43 | Long             | DBT              | CORP              | US        |    198000 | PA      | $205728.34    | 0.46%             | 2033-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GAP INC/THE                                 | Gap Inc/The                                                                     | CUSIP: 364760AP3<br>LEI: T2ZG1WRWZ4BUCMQL9224 | Long             | DBT              | CORP              | US        |    130000 | PA      | $120745.39    | 0.27%             | 2029-10-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS                    | Univision Communications Inc                                                    | CUSIP: 914906AY8<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |    125000 | PA      | $126843.51    | 0.28%             | 2028-08-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| CNX MIDSTREAM PART LP                       | CNX Midstream Partners LP                                                       | CUSIP: 12654AAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    144000 | PA      | $136003.32    | 0.30%             | 2030-04-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| SUNRISE HOLDCO IV BV                        | Sunrise HoldCo IV BV                                                            | CUSIP: 90320LAG2<br>LEI: 213800G1DU7LKI6ZCD69 | Long             | DBT              | CORP              | NL        |     25000 | PA      | $24842.29     | 0.06%             | 2028-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| KBR INC                                     | KBR Inc                                                                         | CUSIP: 48242WAC0<br>LEI: 254900OFQDXZRKRCV808 | Long             | DBT              | CORP              | US        |     38000 | PA      | $36385.21     | 0.08%             | 2028-09-30      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| STARWOOD PROPERTY TRUST                     | Starwood Property Trust Inc                                                     | CUSIP: 85571BBB0<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              | CORP              | US        |    132000 | PA      | $138796.02    | 0.31%             | 2029-04-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| OCEANEERING INTL INC                        | Oceaneering International Inc                                                   | CUSIP: 675232AD4<br>LEI: 549300L6PH74701W0R30 | Long             | DBT              | CORP              | US        |     65000 | PA      | $65518.00     | 0.15%             | 2028-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GENTING NY LLC/GENNY CAP                    | Genting New York LLC / GENNY Capital Inc                                        | CUSIP: 37255JAB8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    177000 | PA      | $183828.13    | 0.41%             | 2029-10-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| LIGHT & WONDER INTL INC                     | Light & Wonder International Inc                                                | CUSIP: 531968AA3<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | DBT              | CORP              | US        |    219000 | PA      | $229166.86    | 0.51%             | 2031-09-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| GGAM FINANCE LTD                            | GGAM Finance Ltd                                                                | CUSIP: 36170JAA4<br>LEI: 254900X2QXEN0FVXRF65 | Long             | DBT              | CORP              | KY        |     28000 | PA      | $29640.07     | 0.07%             | 2028-06-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| MACY'S RETAIL HLDGS LLC                     | Macy's Retail Holdings LLC                                                      | CUSIP: 55617LAQ5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    109000 | PA      | $106406.20    | 0.24%             | 2030-03-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| SEADRILL FINANCE LTD                        | Seadrill Finance Ltd                                                            | CUSIP: 81172QAA2<br>LEI: 213800WMN3OHFUDHD642 | Long             | DBT              | CORP              | BM        |     65000 | PA      | $66213.16     | 0.15%             | 2030-08-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| STARWOOD PROPERTY TRUST                     | Starwood Property Trust Inc                                                     | CUSIP: 85571BAU9<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              | CORP              | US        |     56000 | PA      | $55175.16     | 0.12%             | 2026-07-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| QXO BUILDING PRODUCTS                       | QXO Building Products Inc                                                       | CUSIP: 74825NAA5<br>LEI: 549300HDXQWWCBOYXP31 | Long             | DBT              | CORP              | US        |    338000 | PA      | $348022.38    | 0.78%             | 2032-04-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                        | OneMain Finance Corp                                                            | CUSIP: 682691AF7<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    213000 | PA      | $222491.86    | 0.50%             | 2031-05-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| GRAY MEDIA INC                              | Gray Media Inc                                                                  | CUSIP: 389375AM8<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |     21000 | PA      | $22547.60     | 0.05%             | 2029-07-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| GLOBAL PART/GLP FINANCE                     | Global Partners LP / GLP Finance Corp                                           | CUSIP: 37954FAK0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    193000 | PA      | $202924.25    | 0.45%             | 2032-01-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| CARVANA CO                                  | Carvana Co                                                                      | CUSIP: 146869AM4<br>LEI: 5493003WEAK2PJ5WS063 | Long             | DBT              | CORP              | US        |    107000 | PA      | $126777.99    | 0.28%             | 2031-06-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| PERENTI FINANCE PTY LTD                     | Perenti Finance Pty Ltd                                                         | CUSIP: 71367VAB5<br>LEI: 894500ZDIIAOXSQHE612 | Long             | DBT              | CORP              | AU        |    140000 | PA      | $144719.40    | 0.32%             | 2029-04-26      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| UNITED WHOLESALE MTGE LL                    | United Wholesale Mortgage LLC                                                   | CUSIP: 913229AA8<br>LEI: 549300HW662MN1WU8550 | Long             | DBT              | CORP              | US        |     43000 | PA      | $41746.74     | 0.09%             | 2029-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NCR ATLEOS LLC                              | NCR Atleos Corp                                                                 | CUSIP: 638962AA8<br>LEI: 9845005FC3S0VA714741 | Long             | DBT              | CORP              | US        |    251000 | PA      | $275010.91    | 0.61%             | 2029-04-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                               | TransDigm Inc                                                                   | CUSIP: 893647BV8<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |     46000 | PA      | $47639.12     | 0.11%             | 2032-03-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| BURFORD CAPITAL GLBL FIN                    | Burford Capital Global Finance LLC                                              | CUSIP: 12116LAC3<br>LEI: 549300JVAOO67CSCH406 | Long             | DBT              | CORP              | US        |    105000 | PA      | $104851.37    | 0.23%             | 2030-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| MOLINA HEALTHCARE INC                       | Molina Healthcare Inc                                                           | CUSIP: 60855RAM2<br>LEI: 549300NQQCEQ46YHZ591 | Long             | DBT              | CORP              | US        |    155000 | PA      | $157534.56    | 0.35%             | 2033-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| DAVITA INC                                  | DaVita Inc                                                                      | CUSIP: 23918KAW8<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |    188000 | PA      | $194808.42    | 0.44%             | 2032-09-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| JANE STREET GRP/JSG FIN                     | Jane Street Group / JSG Finance Inc                                             | CUSIP: 47077WAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     42000 | PA      | $44200.13     | 0.10%             | 2031-04-30      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| ROCKET COS INC                              | Rocket Cos Inc                                                                  | CUSIP: 77311WAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     55000 | PA      | $56018.60     | 0.13%             | 2030-08-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                       | Level 3 Financing Inc                                                           | CUSIP: 527298BZ5<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    222000 | PA      | $251970.00    | 0.56%             | 2030-12-15      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| ASCENT RESOURCES/ARU FIN                    | Ascent Resources Utica Holdings LLC / ARU Finance Corp                          | CUSIP: 04364VAU7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $50086.55     | 0.11%             | 2029-06-30      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| BRAND INDUSTRIAL SERVICE                    | Brand Industrial Services Inc                                                   | CUSIP: 104931AA8<br>LEI: 549300B658W2BPDQMW42 | Long             | DBT              | CORP              | US        |     50000 | PA      | $46384.78     | 0.10%             | 2030-08-01      | Fixed         | 10.38%                | No            |                  2 | On Loan: No      |
| GEO GROUP INC/THE                           | GEO Group Inc/The                                                               | CUSIP: 36162JAG1<br>LEI: 54930024XOXET7NQVZ63 | Long             | DBT              | CORP              | US        |    248000 | PA      | $262565.03    | 0.59%             | 2029-04-15      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| PITNEY BOWES INC                            | Pitney Bowes Inc                                                                | CUSIP: 724479AQ3<br>LEI: 549300N2O26NW4ST6W55 | Long             | DBT              | CORP              | US        |    151000 | PA      | $153340.95    | 0.34%             | 2029-03-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| LIONS GATE CAPITAL HOL 1                    | Starz Capital Holdings 1 Inc                                                    | CUSIP: 535939AA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     98000 | PA      | $85168.86     | 0.19%             | 2029-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SUNCOKE ENERGY INC                          | SunCoke Energy Inc                                                              | CUSIP: 86722AAD5<br>LEI: 1KF1J2NXQE2PI0QOB943 | Long             | DBT              | CORP              | US        |     70000 | PA      | $65133.29     | 0.15%             | 2029-06-30      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| POST HOLDINGS INC                           | Post Holdings Inc                                                               | CUSIP: 737446AP9<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |    133000 | PA      | $132379.12    | 0.30%             | 2029-12-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| TITAN INTERNATIONAL INC                     | Titan International Inc                                                         | CUSIP: 88830MAM4<br>LEI: 254900CXRGBE7C4B5A06 | Long             | DBT              | CORP              | US        |    145000 | PA      | $145586.38    | 0.33%             | 2028-04-30      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| SEAGATE HDD CAYMAN                          | Seagate HDD Cayman                                                              | CUSIP: 81180WBM2<br>LEI: 529900BD50TRWEG1SF63 | Long             | DBT              | CORP              | KY        |     71000 | PA      | $80036.45     | 0.18%             | 2032-12-01      | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| WINDSTREAM SERVICES/ESCR                    | Windstream Services LLC / Windstream Escrow Finance Corp                        | CUSIP: 97381AAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    183000 | PA      | $191572.64    | 0.43%             | 2031-10-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| DAVITA INC                                  | DaVita Inc                                                                      | CUSIP: 23918KAS7<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |    338000 | PA      | $324043.41    | 0.72%             | 2030-06-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                       | Tenet Healthcare Corp                                                           | CUSIP: 88033GDQ0<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    117000 | PA      | $118945.29    | 0.27%             | 2030-06-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| DELUXE CORP                                 | Deluxe Corp                                                                     | CUSIP: 248019AW1<br>LEI: KWGNKB8TX9LE5TV29231 | Long             | DBT              | CORP              | US        |     60000 | PA      | $61909.50     | 0.14%             | 2029-09-15      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| UNITED WHOLESALE MTGE LL                    | United Wholesale Mortgage LLC                                                   | CUSIP: 913229AC4<br>LEI: 549300HW662MN1WU8550 | Long             | DBT              | CORP              | US        |    230000 | PA      | $229411.55    | 0.51%             | 2027-06-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| TEGNA INC                                   | TEGNA Inc                                                                       | CUSIP: 87901JAJ4<br>LEI: 549300YC5EDBGX85AO10 | Long             | DBT              | CORP              | US        |    214000 | PA      | $207970.38    | 0.46%             | 2028-03-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| ROBLOX CORP                                 | ROBLOX Corp                                                                     | CUSIP: 771049AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     11000 | PA      | $10374.95     | 0.02%             | 2030-05-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| FORTRESS TRANS & INFRAST                    | Fortress Transportation and Infrastructure Investors LLC                        | CUSIP: 34960PAG6<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |    165000 | PA      | $170443.35    | 0.38%             | 2032-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| LIGHT & WONDER INTL INC                     | Light & Wonder International Inc                                                | CUSIP: 80874YBE9<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | DBT              | CORP              | US        |    168000 | PA      | $173066.95    | 0.39%             | 2029-11-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| NATIONSTAR MTG HLD INC                      | Nationstar Mortgage Holdings Inc                                                | CUSIP: 63861CAF6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     37000 | PA      | $38429.87     | 0.09%             | 2032-02-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| WHIRLPOOL CORP                              | Whirlpool Corp                                                                  | CUSIP: 963320BD7<br>LEI: WHENKOULSSK7WUM60H03 | Long             | DBT              | CORP              | US        |     40000 | PA      | $40315.90     | 0.09%             | 2030-06-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| COINBASE GLOBAL INC                         | Coinbase Global Inc                                                             | CUSIP: 19260QAC1<br>LEI: 5493004G3J2SC154DU06 | Long             | DBT              | CORP              | US        |    404000 | PA      | $379255.00    | 0.85%             | 2028-10-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| VF CORP                                     | VF Corp                                                                         | CUSIP: 918204AT5<br>LEI: CWAJJ9DJ5Z7P057HV541 | Long             | DBT              | CORP              | US        |     56000 | PA      | $48988.45     | 0.11%             | 2037-11-01      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                        | OneMain Finance Corp                                                            | CUSIP: 682691AE0<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    129000 | PA      | $136954.53    | 0.31%             | 2030-03-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| NEW GOLD INC                                | New Gold Inc                                                                    | CUSIP: 644535AJ5<br>LEI: 5493005G0GNCHP0H6L96 | Long             | DBT              | CORP              | CA        |    153000 | PA      | $157640.49    | 0.35%             | 2032-04-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                       | Level 3 Financing Inc                                                           | CUSIP: 527298CM3<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |     95000 | PA      | $96645.34     | 0.22%             | 2033-06-30      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                       | Tenet Healthcare Corp                                                           | CUSIP: 88033GDU1<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |     13000 | PA      | $13444.63     | 0.03%             | 2031-05-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| UWM HOLDINGS LLC                            | UWM Holdings LLC                                                                | CUSIP: 903522AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    108000 | PA      | $108065.65    | 0.24%             | 2030-02-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| CROWN AMERICAS LLC                          | Crown Americas LLC                                                              | CUSIP: 228180AC9<br>LEI: RPPGGRL1J75WGF2DFO04 | Long             | DBT              | CORP              | US        |     75000 | PA      | $75495.38     | 0.17%             | 2033-06-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| DELEK LOG PART/FINANCE                      | Delek Logistics Partners LP / Delek Logistics Finance Corp                      | CUSIP: 24665FAD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    265000 | PA      | $275026.01    | 0.61%             | 2029-03-15      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| Fidelity Government Portfolio               | Fidelity Government Portfolio                                                   | CUSIP: 316175108<br>LEI: 549300FQDFZGLUOCWN51 | Long             | STIV             | RF                | US        |   1044752 | NS      | $1044751.67   | 2.34%             |  |  |  | No            |                  2 | On Loan: No      |
| CELANESE US HOLDINGS LLC                    | Celanese US Holdings LLC                                                        | CUSIP: 15089QAM6<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |     10000 | PA      | $10353.74     | 0.02%             | 2027-07-15      | Variable      | 6.42%                 | No            |                  2 | On Loan: No      |
| SNAP INC                                    | Snap Inc                                                                        | CUSIP: 83304AAL0<br>LEI: 549300JNC0L6VP8A2Q35 | Long             | DBT              | CORP              | US        |    300000 | PA      | $307701.60    | 0.69%             | 2033-03-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| VALLOUREC SACA                              | Vallourec SACA                                                                  | CUSIP: 92023RAA8<br>LEI: 969500P2Q1B47H4MCJ34 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $314449.50    | 0.70%             | 2032-04-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| PITNEY BOWES INC                            | Pitney Bowes Inc                                                                | CUSIP: 724479AP5<br>LEI: 549300N2O26NW4ST6W55 | Long             | DBT              | CORP              | US        |     15000 | PA      | $15136.26     | 0.03%             | 2027-03-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| SMYRNA READY MIX CONCRET                    | Smyrna Ready Mix Concrete LLC                                                   | CUSIP: 83283WAE3<br>LEI: 549300S7RFWHQFOIOY93 | Long             | DBT              | CORP              | US        |     66000 | PA      | $69204.76     | 0.15%             | 2031-11-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| US FOODS INC                                | US Foods Inc                                                                    | CUSIP: 90290MAH4<br>LEI: 5493000JOOFAOUY1JZ87 | Long             | DBT              | CORP              | US        |    130000 | PA      | $136815.90    | 0.31%             | 2032-01-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                      | CCO Holdings LLC / CCO Holdings Capital Corp                                    | CUSIP: 1248EPCL5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    161000 | PA      | $147161.15    | 0.33%             | 2033-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BRANDYWINE OPER PARTNERS                    | Brandywine Operating Partnership LP                                             | CUSIP: 105340AS2<br>LEI: IXBXSCONLDQ1ZI73YU71 | Long             | DBT              | CORP              | US        |     84000 | PA      | $90995.55     | 0.20%             | 2029-04-12      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| ADTALEM GLOBAL EDUCATION                    | Adtalem Global Education Inc                                                    | CUSIP: 00737WAA7<br>LEI: 549300Z467EZLMODV621 | Long             | DBT              | CORP              | US        |    148000 | PA      | $146803.82    | 0.33%             | 2028-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| DELEK LOG PART/FINANCE                      | Delek Logistics Partners LP / Delek Logistics Finance Corp                      | CUSIP: 24665FAE2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $49772.60     | 0.11%             | 2033-06-30      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC. | US 5YR NOTE (CBT)                                                               | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |        10 | NC      | $11059.70     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| RYAN SPECIALTY                              | Ryan Specialty LLC                                                              | CUSIP: 78351GAA3<br>LEI: 549300K52N7QBO3PYY45 | Long             | DBT              | CORP              | US        |     85000 | PA      | $85668.54     | 0.19%             | 2032-08-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CPI CG INC                                  | CPI CG Inc                                                                      | CUSIP: 12598FAC3<br>LEI: 254900H3R50WH1B1LB48 | Long             | DBT              | CORP              | US        |    130000 | PA      | $138125.00    | 0.31%             | 2029-07-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| GENESIS ENERGY LP/FIN                       | Genesis Energy LP / Genesis Energy Finance Corp                                 | CUSIP: 37185LAL6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     97000 | PA      | $98439.09     | 0.22%             | 2028-02-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| GOEASY LTD                                  | goeasy Ltd                                                                      | CUSIP: 380355AJ6<br>LEI: 5493009DJVZG2P8YV435 | Long             | DBT              | CORP              | CA        |    114000 | PA      | $117517.30    | 0.26%             | 2029-07-01      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| PRAIRIE ACQUIROR LP                         | Prairie Acquiror LP                                                             | CUSIP: 73943NAA4<br>LEI: 254900Q6KU2LVSIISH22 | Long             | DBT              | CORP              | US        |     35000 | PA      | $36394.96     | 0.08%             | 2029-08-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| STARWOOD PROPERTY TRUST                     | Starwood Property Trust Inc                                                     | CUSIP: 85571BBC8<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              | CORP              | US        |     23000 | PA      | $23247.28     | 0.05%             | 2030-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| WEATHERFORD INTERNATIONA                    | Weatherford International Ltd                                                   | CUSIP: 947075AU1<br>LEI: 549300A2JKMG5PGOGF82 | Long             | DBT              | CORP              | BM        |    155000 | PA      | $159570.29    | 0.36%             | 2030-04-30      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| AMS-OSRAM AG                                | ams-OSRAM AG                                                                    | CUSIP: 03217CAB2<br>LEI: 5299001JPPT2QFTV5D76 | Long             | DBT              | CORP              | AT        |    140000 | PA      | $149027.89    | 0.33%             | 2029-03-30      | Fixed         | 12.25%                | No            |                  2 | On Loan: No      |
| TIDEWATER INC                               | Tidewater Inc                                                                   | CUSIP: 88642RAE9<br>LEI: 2549000JA5GRUPLMUH98 | Long             | DBT              | CORP              | US        |     25000 | PA      | $25721.06     | 0.06%             | 2030-07-15      | Fixed         | 9.12%                 | No            |                  2 | On Loan: No      |
| BELRON UK FINANCE PLC                       | Belron UK Finance PLC                                                           | CUSIP: 080782AA3<br>LEI: 9845006BC9D1A77B8178 | Long             | DBT              | CORP              | GB        |    157000 | PA      | $158226.48    | 0.35%             | 2029-10-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| AVIS BUDGET CAR/FINANCE                     | Avis Budget Car Rental LLC / Avis Budget Finance Inc                            | CUSIP: 053773BJ5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     89000 | PA      | $92893.75     | 0.21%             | 2030-01-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| DIEBOLD NIXDORF INC                         | Diebold Nixdorf Inc                                                             | CUSIP: 253651AK9<br>LEI: 549300XZK6EWDBAZSY16 | Long             | DBT              | CORP              | US        |     25000 | PA      | $26552.95     | 0.06%             | 2030-03-31      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| SINCLAIR TELEVISION GROU                    | Sinclair Television Group Inc                                                   | CUSIP: 829259BF6<br>LEI: 549300CQGEN0CH65UD62 | Long             | DBT              | CORP              | US        |    233000 | PA      | $163319.02    | 0.37%             | 2032-12-31      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                      | CCO Holdings LLC / CCO Holdings Capital Corp                                    | CUSIP: 1248EPCP6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     26000 | PA      | $23145.85     | 0.05%             | 2034-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| WAYFAIR LLC                                 | Wayfair LLC                                                                     | CUSIP: 94419NAA5<br>LEI: 549300CTUWTZGOXMYI40 | Long             | DBT              | CORP              | US        |    263000 | PA      | $262930.75    | 0.59%             | 2029-10-31      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| VIASAT INC                                  | Viasat Inc                                                                      | CUSIP: 92552VAL4<br>LEI: UFC8NYMNFSYIHNSM2I38 | Long             | DBT              | CORP              | US        |    105000 | PA      | $104588.84    | 0.23%             | 2027-04-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| CVR ENERGY INC                              | CVR Energy Inc                                                                  | CUSIP: 12662PAF5<br>LEI: 529900SOYZIXZBTXB558 | Long             | DBT              | CORP              | US        |    165000 | PA      | $165097.02    | 0.37%             | 2029-01-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| NISSAN MOTOR ACCEPTANCE                     | Nissan Motor Acceptance Co LLC                                                  | CUSIP: 65480CAF2<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |     43000 | PA      | $43924.94     | 0.10%             | 2028-09-15      | Fixed         | 7.05%                 | No            |                  2 | On Loan: No      |
| PATRICK INDUSTRIES INC                      | Patrick Industries Inc                                                          | CUSIP: 703343AH6<br>LEI: 549300FZ5ZTCCJ3Z5W14 | Long             | DBT              | CORP              | US        |    194000 | PA      | $194477.63    | 0.43%             | 2032-11-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| TALEN ENERGY SUPPLY LLC                     | Talen Energy Supply LLC                                                         | CUSIP: 87422VAK4<br>LEI: K5K33XN0PQAU1XF7NN66 | Long             | DBT              | CORP              | US        |     90000 | PA      | $96399.46     | 0.22%             | 2030-06-01      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| VFH PARENT / VALOR CO                       | VFH Parent LLC / Valor Co-Issuer Inc                                            | CUSIP: 91824YAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    252000 | PA      | $264418.68    | 0.59%             | 2031-06-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| STARWOOD PROPERTY TRUST                     | Starwood Property Trust Inc                                                     | CUSIP: 85571BBE4<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              | CORP              | US        |     89000 | PA      | $91887.43     | 0.21%             | 2030-10-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CARVANA CO                                  | Carvana Co                                                                      | CUSIP: 146869AN2<br>LEI: 5493003WEAK2PJ5WS063 | Long             | DBT              | CORP              | US        |     75000 | PA      | $78851.13     | 0.18%             | 2030-06-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| AMER SPORTS COMPANY                         | Amer Sports Co                                                                  | CUSIP: 02352NAA7<br>LEI: 549300NRKH9WF70VFC95 | Long             | DBT              | CORP              | US        |    309000 | PA      | $321577.85    | 0.72%             | 2031-02-16      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| TELECOM ITALIA CAPITAL                      | Telecom Italia Capital SA                                                       | CUSIP: 87927VAF5<br>LEI: 549300777DJZOR5C4L39 | Long             | DBT              | CORP              | LU        |     34000 | PA      | $35450.58     | 0.08%             | 2033-11-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| RESORTS WORLD/RWLV CAP                      | Resorts World Las Vegas LLC / RWLV Capital Inc                                  | CUSIP: 76120HAD9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    211000 | PA      | $208715.44    | 0.47%             | 2030-07-27      | Fixed         | 8.45%                 | No            |                  2 | On Loan: No      |
| JANE STREET GRP/JSG FIN                     | Jane Street Group / JSG Finance Inc                                             | CUSIP: 47077WAE8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     90000 | PA      | $92549.88     | 0.21%             | 2033-05-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| COGENT COMMS GRP / FIN                      | Cogent Communications Group LLC / Cogent Finance Inc                            | CUSIP: 19240WAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     85000 | PA      | $85153.77     | 0.19%             | 2027-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                      | CCO Holdings LLC / CCO Holdings Capital Corp                                    | CUSIP: 1248EPCN1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    146000 | PA      | $135967.19    | 0.30%             | 2032-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CNX RESOURCES CORP                          | CNX Resources Corp                                                              | CUSIP: 12653CAJ7<br>LEI: 549300JK3KH8PWM3B226 | Long             | DBT              | CORP              | US        |     89000 | PA      | $89360.18     | 0.20%             | 2029-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GLOBAL PART/GLP FINANCE                     | Global Partners LP / GLP Finance Corp                                           | CUSIP: 37954FAJ3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    147000 | PA      | $149269.24    | 0.33%             | 2029-01-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| PERFORMANCE FOOD GROUP I                    | Performance Food Group Inc                                                      | CUSIP: 71376LAF7<br>LEI: 549300OMUOGBYK0FFO76 | Long             | DBT              | CORP              | US        |    139000 | PA      | $142154.47    | 0.32%             | 2032-09-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| ELDORADO GOLD CORP                          | Eldorado Gold Corp                                                              | CUSIP: 284902AF0<br>LEI: 5493004PWQ01YDD1IH62 | Long             | DBT              | CORP              | CA        |    233000 | PA      | $233228.81    | 0.52%             | 2029-09-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| SLM CORP                                    | SLM Corp                                                                        | CUSIP: 78442PGF7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $209852.40    | 0.47%             | 2030-01-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| RITHM CAPITAL CORP                          | Rithm Capital Corp                                                              | CUSIP: 64828TAB8<br>LEI: 549300WNTHGEO5LP2G31 | Long             | DBT              | CORP              | US        |    313000 | PA      | $316187.91    | 0.71%             | 2029-04-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| HECLA MINING CO                             | Hecla Mining Co                                                                 | CUSIP: 422704AH9<br>LEI: 5493009Y6HOBZD1QD537 | Long             | DBT              | CORP              | US        |      4000 | PA      | $4031.40      | 0.01%             | 2028-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| OWENS-BROCKWAY                              | Owens-Brockway Glass Container Inc                                              | CUSIP: 69073TAT0<br>LEI: V2UQUCDZJ9WY98W8QU33 | Long             | DBT              | CORP              | US        |     90000 | PA      | $90033.21     | 0.20%             | 2027-05-13      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                               | TransDigm Inc                                                                   | CUSIP: 893647BY2<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    115000 | PA      | $115268.30    | 0.26%             | 2033-05-31      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| COMSTOCK RESOURCES INC                      | Comstock Resources Inc                                                          | CUSIP: 205768AU8<br>LEI: I03QQGEA4SS774AURI46 | Long             | DBT              | CORP              | US        |     96000 | PA      | $95688.58     | 0.21%             | 2029-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC. | US 10YR NOTE (CBT)                                                              | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |         7 | NC      | $12685.75     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| TALOS PRODUCTION INC                        | Talos Production Inc                                                            | CUSIP: 87485LAE4<br>LEI: 549300GZ2DZZE2Y8TX15 | Long             | DBT              | CORP              | US        |    182000 | PA      | $185840.56    | 0.42%             | 2031-02-01      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| FREEDOM MORTGAGE HOLD                       | Freedom Mortgage Holdings LLC                                                   | CUSIP: 35641AAA6<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |     96000 | PA      | $99713.28     | 0.22%             | 2029-02-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| PILGRIM'S PRIDE CORP                        | Pilgrim's Pride Corp                                                            | CUSIP: 72147KAL2<br>LEI: 549300ZSLGV64ZL3HD75 | Long             | DBT              | CORP              | US        |    178000 | PA      | $194822.07    | 0.44%             | 2034-05-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| STARWOOD PROPERTY TRUST                     | Starwood Property Trust Inc                                                     | CUSIP: 85571BBD6<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              | CORP              | US        |    134000 | PA      | $138434.34    | 0.31%             | 2030-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ROCKET COS INC                              | Rocket Cos Inc                                                                  | CUSIP: 77311WAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     65000 | PA      | $66448.65     | 0.15%             | 2033-08-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| ZEGONA FINANCE PLC                          | Zegona Finance PLC                                                              | CUSIP: 98927UAA5<br>LEI: 254900B3KC1SS7T2TE92 | Long             | DBT              | CORP              | GB        |    340000 | PA      | $362950.00    | 0.81%             | 2029-07-15      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| TRINET GROUP INC                            | TriNet Group Inc                                                                | CUSIP: 896288AC1<br>LEI: 5299003FJVBETSFKE990 | Long             | DBT              | CORP              | US        |    128000 | PA      | $132966.40    | 0.30%             | 2031-08-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| BROOKFIELD RESID PROPERT                    | Brookfield Residential Properties Inc / Brookfield Residential US LLC           | CUSIP: 11283YAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |     84000 | PA      | $83620.17     | 0.19%             | 2027-09-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| LIFE TIME INC                               | Life Time Inc                                                                   | CUSIP: 53190FAE5<br>LEI: 549300PALKE96VYH4X17 | Long             | DBT              | CORP              | US        |    191000 | PA      | $194046.45    | 0.43%             | 2031-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                      | CCO Holdings LLC / CCO Holdings Capital Corp                                    | CUSIP: 1248EPCB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     75000 | PA      | $74800.22     | 0.17%             | 2029-06-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| TALOS PRODUCTION INC                        | Talos Production Inc                                                            | CUSIP: 87485LAD6<br>LEI: 549300GZ2DZZE2Y8TX15 | Long             | DBT              | CORP              | US        |    192000 | PA      | $196538.88    | 0.44%             | 2029-02-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| CANADIAN IMPERIAL BANK                      | Canadian Imperial Bank of Commerce                                              | CUSIP: 13607PNF7<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | DBT              | CORP              | CA        |    280000 | PA      | $280791.28    | 0.63%             | 2085-01-28      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| CORECIVIC INC                               | CoreCivic Inc                                                                   | CUSIP: 21871NAC5<br>LEI: 529900JFA3K6PTLT8B15 | Long             | DBT              | CORP              | US        |    173000 | PA      | $183385.36    | 0.41%             | 2029-04-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| POST HOLDINGS INC                           | Post Holdings Inc                                                               | CUSIP: 737446AX2<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |    135000 | PA      | $135751.28    | 0.30%             | 2034-10-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| GARRETT MOTION HLD/SARL                     | Garrett Motion Holdings Inc / Garrett LX I Sarl                                 | CUSIP: 366504AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    330000 | PA      | $343585.44    | 0.77%             | 2032-05-31      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| ASTON MARTIN CAPITAL HOL                    | Aston Martin Capital Holdings Ltd                                               | CUSIP: 04625HAJ8<br>LEI: 213800H4GKEF3CJ8C774 | Long             | DBT              | CORP              | JE        |    242000 | PA      | $229125.50    | 0.51%             | 2029-03-31      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| BREAD FINANCIAL HLDGS                       | Bread Financial Holdings Inc                                                    | CUSIP: 018581AP3<br>LEI: 549300G8S4PO686J7H97 | Long             | DBT              | CORP              | US        |    205000 | PA      | $220757.74    | 0.49%             | 2029-03-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| VALARIS LTD                                 | Valaris Ltd                                                                     | CUSIP: 91889FAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    355000 | PA      | $364231.51    | 0.81%             | 2030-04-30      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| GREENFIRE RESOURCES LTD                     | Greenfire Resources Ltd                                                         | CUSIP: 39525UAA5<br>LEI: 254900MTS0G2VGMJW059 | Long             | DBT              | CORP              | CA        |    111000 | PA      | $116764.12    | 0.26%             | 2028-10-01      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                           | Iron Mountain Inc                                                               | CUSIP: 46284VAP6<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |     75000 | PA      | $77640.83     | 0.17%             | 2029-02-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC. | US 2YR NOTE (CBT)                                                               | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |         1 | NC      | $797.37       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| TELECOM ITALIA CAPITAL                      | Telecom Italia Capital SA                                                       | CUSIP: 87927VAV0<br>LEI: 549300777DJZOR5C4L39 | Long             | DBT              | CORP              | LU        |    186000 | PA      | $200422.52    | 0.45%             | 2038-06-04      | Fixed         | 7.72%                 | No            |                  2 | On Loan: No      |
| BATH & BODY WORKS INC                       | Bath & Body Works Inc                                                           | CUSIP: 501797AL8<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | DBT              | CORP              | US        |     43000 | PA      | $44374.62     | 0.10%             | 2035-11-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| COREWEAVE INC                               | CoreWeave Inc                                                                   | CUSIP: 21873SAB4<br>LEI: 984500511DP2B6186053 | Long             | DBT              | CORP              | US        |    404000 | PA      | $412915.07    | 0.92%             | 2030-06-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                    | Vistra Operations Co LLC                                                        | CUSIP: 92840VAP7<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    325000 | PA      | $345679.83    | 0.77%             | 2031-10-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                      | Venture Global LNG Inc                                                          | CUSIP: 92332YAA9<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |     88000 | PA      | $90969.46     | 0.20%             | 2028-06-01      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| DIRECTV FIN LLC/COINC                       | Directv Financing LLC / Directv Financing Co-Obligor Inc                        | CUSIP: 25461LAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    339000 | PA      | $337647.67    | 0.75%             | 2027-08-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| WARRIOR MET COAL INC                        | Warrior Met Coal Inc                                                            | CUSIP: 93627CAB7<br>LEI: 549300152B1S9YKBYV79 | Long             | DBT              | CORP              | US        |     36000 | PA      | $36599.94     | 0.08%             | 2028-12-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| CALDERYS FINANCING LLC                      | Calderys Financing LLC                                                          | CUSIP: 128786AA8<br>LEI: 254900ZIKDM74XNEFV84 | Long             | DBT              | CORP              | US        |     54000 | PA      | $57294.47     | 0.13%             | 2028-06-01      | Fixed         | 11.25%                | No            |                  2 | On Loan: No      |
| ALBERTSONS COS/SAFEWAY                      | Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC           | CUSIP: 01309QAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     64000 | PA      | $65526.59     | 0.15%             | 2028-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| SK INVICTUS INTERMEDIATE                    | SK Invictus Intermediate II Sarl                                                | CUSIP: 29977LAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    237000 | PA      | $229430.10    | 0.51%             | 2029-10-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                           | Iron Mountain Inc                                                               | CUSIP: 46284VAQ4<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |     23000 | PA      | $23648.40     | 0.05%             | 2033-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| NATIONSTAR MTG HLD INC                      | Nationstar Mortgage Holdings Inc                                                | CUSIP: 63861CAE9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    241000 | PA      | $244837.93    | 0.55%             | 2031-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| GENESIS ENERGY LP/FIN                       | Genesis Energy LP / Genesis Energy Finance Corp                                 | CUSIP: 37185LAN2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     81000 | PA      | $86023.46     | 0.19%             | 2030-04-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| STONEX ESCROW ISSUER LLC                    | Stonex Escrow Issuer LLC                                                        | CUSIP: 86189AAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     45000 | PA      | $45449.81     | 0.10%             | 2032-07-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| PENNYMAC FIN SVCS INC                       | PennyMac Financial Services Inc                                                 | CUSIP: 70932MAF4<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |     70000 | PA      | $71750.00     | 0.16%             | 2033-02-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| NOVA CHEMICALS CORP                         | NOVA Chemicals Corp                                                             | CUSIP: 66977WAU3<br>LEI: 549300ZOD6N7RI2FJP09 | Long             | DBT              | CORP              | CA        |     75000 | PA      | $80903.10     | 0.18%             | 2030-02-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| RIVIAN HLD/AUTO LLC                         | Rivian Holdings LLC/Rivian LLC/Rivian Automotive LLC                            | CUSIP: 76954LAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    125000 | PA      | $123006.58    | 0.28%             | 2031-01-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| RHP HOTEL PPTY/RHP FINAN                    | RHP Hotel Properties LP / RHP Finance Corp                                      | CUSIP: 749571AJ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     68000 | PA      | $70511.85     | 0.16%             | 2028-07-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| ALGOMA STEEL INC                            | Algoma Steel Inc                                                                | CUSIP: 01566MAD7<br>LEI: 5493006RXIB5GVHWJS53 | Long             | DBT              | CORP              | CA        |    155000 | PA      | $143338.22    | 0.32%             | 2029-04-15      | Fixed         | 9.12%                 | No            |                  2 | On Loan: No      |
| MAGNOLIA OIL GAS/MAG FIN                    | Magnolia Oil & Gas Operating LLC / Magnolia Oil & Gas Finance Corp              | CUSIP: 559665AB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    219000 | PA      | $220568.72    | 0.49%             | 2032-12-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| MAUSER PACKAGING SOLUT                      | Mauser Packaging Solutions Holding Co                                           | CUSIP: 57763RAD9<br>LEI: 549300DNGHXL0OMHW304 | Long             | DBT              | CORP              | US        |     97000 | PA      | $98607.39     | 0.22%             | 2027-04-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| MIDWEST GMNG BOR/MWG FIN                    | Midwest Gaming Borrower LLC / Midwest Gaming Finance Corp                       | CUSIP: 59833DAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     40000 | PA      | $38527.75     | 0.09%             | 2029-05-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| ESAB CORP                                   | Esab Corp                                                                       | CUSIP: 29605JAA4<br>LEI: 549300ZNV0SWBXEIWT04 | Long             | DBT              | CORP              | US        |     11000 | PA      | $11262.58     | 0.03%             | 2029-04-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BRISTOW GROUP INC                           | Bristow Group Inc                                                               | CUSIP: 11040GAA1<br>LEI: 5493005Q24EN3UC1PV68 | Long             | DBT              | CORP              | US        |    122000 | PA      | $122603.05    | 0.27%             | 2028-03-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| VIRGIN MEDIA SECURED FIN                    | Virgin Media Secured Finance PLC                                                | CUSIP: 92769XAP0<br>LEI: 213800X3RLP4NOTPY579 | Long             | DBT              | CORP              | GB        |    118000 | PA      | $116177.18    | 0.26%             | 2029-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CNX RESOURCES CORP                          | CNX Resources Corp                                                              | CUSIP: 12653CAK4<br>LEI: 549300JK3KH8PWM3B226 | Long             | DBT              | CORP              | US        |    149000 | PA      | $155403.28    | 0.35%             | 2031-01-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| STATION CASINOS LLC                         | Station Casinos LLC                                                             | CUSIP: 857691AJ8<br>LEI: 5493004E7Q60TX54WL62 | Long             | DBT              | CORP              | US        |     89000 | PA      | $91242.27     | 0.20%             | 2032-03-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| COGENT COMM GROUP LLC                       | Cogent Communications Group LLC                                                 | CUSIP: 19240CAE3<br>LEI: 549300KFWFYF8Q1U0Y26 | Long             | DBT              | CORP              | US        |    210000 | PA      | $210948.57    | 0.47%             | 2027-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| AMERIGAS PART/FIN CORP                      | AmeriGas Partners LP / AmeriGas Finance Corp                                    | CUSIP: 030981AM6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    192000 | PA      | $197540.54    | 0.44%             | 2028-06-01      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                      | CCO Holdings LLC / CCO Holdings Capital Corp                                    | CUSIP: 1248EPCK7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     94000 | PA      | $87799.90     | 0.20%             | 2031-02-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| WESCO DISTRIBUTION INC                      | WESCO Distribution Inc                                                          | CUSIP: 95081QAS3<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |     25000 | PA      | $25848.33     | 0.06%             | 2033-03-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                               | TransDigm Inc                                                                   | CUSIP: 893647BR7<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    159000 | PA      | $162372.66    | 0.36%             | 2028-08-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                               | TransDigm Inc                                                                   | CUSIP: 893647BS5<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    232000 | PA      | $240956.59    | 0.54%             | 2030-12-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| TEXAS CAPITAL BANCSHARES                    | Texas Capital Bancshares Inc                                                    | CUSIP: 88224QAA5<br>LEI: 549300466Q2SXRX0YM48 | Long             | DBT              | CORP              | US        |     52000 | PA      | $50468.71     | 0.11%             | 2031-05-06      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEXSTAR MEDIA INC                           | Nexstar Media Inc                                                               | CUSIP: 65336YAN3<br>LEI: 5493006PK6I4I2OOT688 | Long             | DBT              | CORP              | US        |    256000 | PA      | $249269.19    | 0.56%             | 2028-11-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| AVIS BUDGET CAR/FINANCE                     | Avis Budget Car Rental LLC / Avis Budget Finance Inc                            | CUSIP: 053773BH9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     61000 | PA      | $62879.41     | 0.14%             | 2031-02-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| TELECOM ITALIA CAPITAL                      | Telecom Italia Capital SA                                                       | CUSIP: 87927VAR9<br>LEI: 549300777DJZOR5C4L39 | Long             | DBT              | CORP              | LU        |     60000 | PA      | $63418.80     | 0.14%             | 2036-07-18      | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| MPT OPER PARTNERSP/FINL                     | MPT Operating Partnership LP / MPT Finance Corp                                 | CUSIP: 55342UAQ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    246000 | PA      | $257261.39    | 0.58%             | 2032-02-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| NOBLE FINANCE II LLC                        | Noble Finance II LLC                                                            | CUSIP: 65505PAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    280000 | PA      | $284942.56    | 0.64%             | 2030-04-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| UNDER ARMOUR INC                            | Under Armour Inc                                                                | CUSIP: 904311AD9<br>LEI: 549300D4549QKWETZ406 | Long             | DBT              | CORP              | US        |    154000 | PA      | $155972.12    | 0.35%             | 2030-07-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| STENA INTERNATIONAL SA                      | Stena International SA                                                          | CUSIP: 85858EAD5<br>LEI: 213800A4LTGG4W55QP46 | Long             | DBT              | CORP              | LU        |     75000 | PA      | $75232.58     | 0.17%             | 2031-01-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| HERTZ CORP/THE                              | Hertz Corp/The                                                                  | CUSIP: 428040DC0<br>LEI: 549300PD0C69OJ0NLB27 | Long             | DBT              | CORP              | US        |     67000 | PA      | $70031.15     | 0.16%             | 2029-07-15      | Fixed         | 12.62%                | No            |                  2 | On Loan: No      |
| UNITI GROUP/CSL CAPITAL                     | Uniti Group LP / Uniti Group Finance 2019 Inc / CSL Capital LLC                 | CUSIP: 91327TAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    258000 | PA      | $273678.66    | 0.61%             | 2028-02-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                     | Royal Caribbean Cruises Ltd                                                     | CUSIP: 780153BJ0<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |     61000 | PA      | $61214.11     | 0.14%             | 2026-08-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| WHIRLPOOL CORP                              | Whirlpool Corp                                                                  | CUSIP: 963320BE5<br>LEI: WHENKOULSSK7WUM60H03 | Long             | DBT              | CORP              | US        |    110000 | PA      | $110300.58    | 0.25%             | 2033-06-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| NORTHERN OIL & GAS INC                      | Northern Oil & Gas Inc                                                          | CUSIP: 665530AB7<br>LEI: OKFF0PIZDDMNH4UCYE51 | Long             | DBT              | CORP              | US        |    111000 | PA      | $114381.95    | 0.26%             | 2031-06-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                           | Iron Mountain Inc                                                               | CUSIP: 46284VAE1<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |     89000 | PA      | $88610.26     | 0.20%             | 2028-03-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ICAHN ENTERPRISES/FIN                       | Icahn Enterprises LP / Icahn Enterprises Finance Corp                           | CUSIP: 451102CF2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    130000 | PA      | $126286.17    | 0.28%             | 2029-01-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| RITHM CAPITAL CORP                          | Rithm Capital Corp                                                              | CUSIP: 64828TAC6<br>LEI: 549300WNTHGEO5LP2G31 | Long             | DBT              | CORP              | US        |     55000 | PA      | $55781.00     | 0.12%             | 2030-07-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| FAIR ISAAC CORP                             | Fair Isaac Corp                                                                 | CUSIP: 303250AG9<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | DBT              | CORP              | US        |     70000 | PA      | $70696.79     | 0.16%             | 2033-05-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CNX RESOURCES CORP                          | CNX Resources Corp                                                              | CUSIP: 12653CAL2<br>LEI: 549300JK3KH8PWM3B226 | Long             | DBT              | CORP              | US        |    148000 | PA      | $153194.80    | 0.34%             | 2032-03-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| DELEK LOG PART/FINANCE                      | Delek Logistics Partners LP / Delek Logistics Finance Corp                      | CUSIP: 24665FAC6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     14000 | PA      | $14051.46     | 0.03%             | 2028-06-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| PATRICK INDUSTRIES INC                      | Patrick Industries Inc                                                          | CUSIP: 703343AD5<br>LEI: 549300FZ5ZTCCJ3Z5W14 | Long             | DBT              | CORP              | US        |     68000 | PA      | $66027.65     | 0.15%             | 2029-05-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| PG&E CORP                                   | PG&E Corp                                                                       | CUSIP: 69331CAH1<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | DBT              | CORP              | US        |    125000 | PA      | $121716.27    | 0.27%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INTESA SANPAOLO SPA                         | Intesa Sanpaolo SpA                                                             | CUSIP: 46115HBV8<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | DBT              | CORP              | IT        |    200000 | PA      | $232181.63    | 0.52%             | 2033-11-21      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| CHAMPION IRON CANADA INC                    | Champion Iron Canada Inc                                                        | CUSIP: 15853BAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |     50000 | PA      | $50670.21     | 0.11%             | 2032-07-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                      | Venture Global LNG Inc                                                          | CUSIP: 92332YAC5<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |    123000 | PA      | $133999.77    | 0.30%             | 2029-02-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE MORTGAGE TR                      | Blackstone Mortgage Trust Inc                                                   | CUSIP: 09257WAF7<br>LEI: 549300OLDJ20R2Y2UW20 | Long             | DBT              | CORP              | US        |    220000 | PA      | $233554.64    | 0.52%             | 2029-12-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| ALLY FINANCIAL INC                          | Ally Financial Inc                                                              | CUSIP: 02005NBY5<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |    149000 | PA      | $146503.85    | 0.33%             | 2040-01-17      | Fixed         | 6.65%                 | No            |                  2 | On Loan: No      |
| CUSHMAN & WAKEFIELD US                      | Cushman & Wakefield US Borrower LLC                                             | CUSIP: 23166MAC7<br>LEI: 549300870CMN3WI5IF97 | Long             | DBT              | CORP              | US        |     99000 | PA      | $106680.92    | 0.24%             | 2031-09-01      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| NORDSTROM INC                               | Nordstrom Inc                                                                   | CUSIP: 655664AR1<br>LEI: 549300S3IZB5P35KNV16 | Long             | DBT              | CORP              | US        |    127000 | PA      | $88031.15     | 0.20%             | 2044-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHURCHILL DOWNS INC                         | Churchill Downs Inc                                                             | CUSIP: 171484AJ7<br>LEI: 529900FODTBQC8MIS994 | Long             | DBT              | CORP              | US        |    148000 | PA      | $152122.24    | 0.34%             | 2031-05-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| NISSAN MOTOR ACCEPTANCE                     | Nissan Motor Acceptance Co LLC                                                  | CUSIP: 65480CAE5<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |    135000 | PA      | $136326.11    | 0.30%             | 2026-09-15      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| BURFORD CAPITAL GLBL FIN                    | Burford Capital Global Finance LLC                                              | CUSIP: 12116LAE9<br>LEI: 549300JVAOO67CSCH406 | Long             | DBT              | CORP              | US        |    262000 | PA      | $275678.76    | 0.62%             | 2031-07-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| ENOVA INTERNATIONAL INC                     | Enova International Inc                                                         | CUSIP: 29357KAK9<br>LEI: 549300O8XOCQSB49UO63 | Long             | DBT              | CORP              | US        |    147000 | PA      | $154758.81    | 0.35%             | 2029-08-01      | Fixed         | 9.12%                 | No            |                  2 | On Loan: No      |
| HUDSON PACIFIC PROPERTIE                    | Hudson Pacific Properties LP                                                    | CUSIP: 44409MAC0<br>LEI: 5493007NTUGLGZ8T3526 | Long             | DBT              | CORP              | US        |     37000 | PA      | $30269.83     | 0.07%             | 2030-01-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| GENESIS ENERGY LP/FIN                       | Genesis Energy LP / Genesis Energy Finance Corp                                 | CUSIP: 37185LAR3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     35000 | PA      | $36591.66     | 0.08%             | 2033-05-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| RHP HOTEL PPTY/RHP FINAN                    | RHP Hotel Properties LP / RHP Finance Corp                                      | CUSIP: 749571AF2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     68000 | PA      | $67621.13     | 0.15%             | 2027-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| TASEKO MINES LTD                            | Taseko Mines Ltd                                                                | CUSIP: 876511AG1<br>LEI: 549300XKUO1JSLU7KX54 | Long             | DBT              | CORP              | CA        |    186000 | PA      | $194681.36    | 0.44%             | 2030-05-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| MGM RESORTS INTL                            | MGM Resorts International                                                       | CUSIP: 552953CK5<br>LEI: 54930066VBP7DZEGGJ87 | Long             | DBT              | CORP              | US        |     37000 | PA      | $37626.56     | 0.08%             | 2029-09-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| DIRECTV FIN LLC/COINC                       | Directv Financing LLC / Directv Financing Co-Obligor Inc                        | CUSIP: 25461LAD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    231000 | PA      | $223986.45    | 0.50%             | 2031-02-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| HTA GROUP LTD                               | HTA Group Ltd/Mauritius                                                         | CUSIP: 40435WAC4<br>LEI: 213800WEFU8O8X6EPU13 | Long             | DBT              | CORP              | MU        |    355000 | PA      | $363946.00    | 0.81%             | 2029-06-04      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                      | CCO Holdings LLC / CCO Holdings Capital Corp                                    | CUSIP: 1248EPCQ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    175000 | PA      | $165995.99    | 0.37%             | 2032-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| NORDSTROM INC                               | Nordstrom Inc                                                                   | CUSIP: 655664AY6<br>LEI: 549300S3IZB5P35KNV16 | Long             | DBT              | CORP              | US        |     24000 | PA      | $21084.59     | 0.05%             | 2031-08-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| HOWARD HUGHES CORP                          | Howard Hughes Corp/The                                                          | CUSIP: 44267DAE7<br>LEI: 549300BVHY25JZC1KI49 | Long             | DBT              | CORP              | US        |      9000 | PA      | $8570.56      | 0.02%             | 2029-02-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| EZCORP INC                                  | EZCORP Inc                                                                      | CUSIP: 302301AJ5<br>LEI: 5493003K6PG3ZQ7TUQ63 | Long             | DBT              | CORP              | US        |    149000 | PA      | $156654.43    | 0.35%             | 2032-04-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| NORDSTROM INC                               | Nordstrom Inc                                                                   | CUSIP: 655664AT7<br>LEI: 549300S3IZB5P35KNV16 | Long             | DBT              | CORP              | US        |    130000 | PA      | $119870.06    | 0.27%             | 2030-04-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| KNIFE RIVER CORP                            | Knife River Corp                                                                | CUSIP: 498894AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    163000 | PA      | $171873.72    | 0.38%             | 2031-05-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| RAKUTEN GROUP INC                           | Rakuten Group Inc                                                               | CUSIP: 75102WAK4<br>LEI: 529900IMXUCQKUL1H943 | Long             | DBT              | CORP              | JP        |    165000 | PA      | $180905.55    | 0.40%             | 2029-04-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| STONEX GROUP INC                            | StoneX Group Inc                                                                | CUSIP: 861896AA6<br>LEI: 549300JUF07L8VF02M60 | Long             | DBT              | CORP              | US        |    257000 | PA      | $269399.15    | 0.60%             | 2031-03-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| FIRSTCASH INC                               | FirstCash Inc                                                                   | CUSIP: 33767DAD7<br>LEI: 549300V2X3UU7K0DG350 | Long             | DBT              | CORP              | US        |    265000 | PA      | $274236.43    | 0.61%             | 2032-03-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| HUDSON PACIFIC PROPERTIE                    | Hudson Pacific Properties LP                                                    | CUSIP: 44409MAD8<br>LEI: 5493007NTUGLGZ8T3526 | Long             | DBT              | CORP              | US        |     68000 | PA      | $66298.54     | 0.15%             | 2028-02-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| GOEASY LTD                                  | goeasy Ltd                                                                      | CUSIP: 380355AH0<br>LEI: 5493009DJVZG2P8YV435 | Long             | DBT              | CORP              | CA        |    244000 | PA      | $258192.75    | 0.58%             | 2028-12-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| ENPRO INC                                   | Enpro Inc                                                                       | CUSIP: 29355XAH0<br>LEI: 549300Y5CFT2LKCFDN54 | Long             | DBT              | CORP              | US        |     35000 | PA      | $35781.26     | 0.08%             | 2033-06-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| NOVELIS CORP                                | Novelis Corp                                                                    | CUSIP: 670001AL0<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |    165000 | PA      | $170860.89    | 0.38%             | 2030-01-30      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| SYNCHRONY FINANCIAL                         | Synchrony Financial                                                             | CUSIP: 87165BAU7<br>LEI: 549300RS7EWPM9MA6C78 | Long             | DBT              | CORP              | US        |    342000 | PA      | $358102.86    | 0.80%             | 2033-02-02      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| AMERIGAS PART/FIN CORP                      | AmeriGas Partners LP / AmeriGas Finance Corp                                    | CUSIP: 030981AL8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    113000 | PA      | $112145.90    | 0.25%             | 2027-05-20      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| AMERIGAS PART/FIN CORP                      | AmeriGas Partners LP / AmeriGas Finance Corp                                    | CUSIP: 030981AP9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     65000 | PA      | $67425.74     | 0.15%             | 2030-06-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| LUMEN TECHNOLOGIES INC                      | Lumen Technologies Inc                                                          | CUSIP: 550241AK9<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |    150000 | PA      | $153187.50    | 0.34%             | 2032-10-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| NORTHERN OIL & GAS INC                      | Northern Oil & Gas Inc                                                          | CUSIP: 665531AG4<br>LEI: OKFF0PIZDDMNH4UCYE51 | Long             | DBT              | CORP              | US        |    222000 | PA      | $223962.70    | 0.50%             | 2028-03-01      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| ITHACA ENERGY NORTH                         | Ithaca Energy North Sea PLC                                                     | CUSIP: 46567TAC8<br>LEI: 213800BMMUN3AKWBIO91 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $205970.40    | 0.46%             | 2029-10-15      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| HOWARD HUGHES CORP                          | Howard Hughes Corp/The                                                          | CUSIP: 44267DAD9<br>LEI: 549300BVHY25JZC1KI49 | Long             | DBT              | CORP              | US        |     78000 | PA      | $77567.66     | 0.17%             | 2028-08-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| PG&E CORP                                   | PG&E Corp                                                                       | CUSIP: 69331CAJ7<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | DBT              | CORP              | US        |     51000 | PA      | $48658.55     | 0.11%             | 2030-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| DANAOS CORP                                 | Danaos Corp                                                                     | CUSIP: 23585WAA2<br>LEI: 734IM3DNDNT36T7YTD24 | Long             | DBT              | CORP              | MH        |     56000 | PA      | $56708.18     | 0.13%             | 2028-03-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| NATIONSTAR MTG HLD INC                      | Nationstar Mortgage Holdings Inc                                                | CUSIP: 63861CAG4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     70000 | PA      | $71501.78     | 0.16%             | 2029-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GLOBAL NET LEASE/GLOBAL                     | Global Net Lease Inc / Global Net Lease Operating Partnership LP                | CUSIP: 37892AAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    231000 | PA      | $220635.31    | 0.49%             | 2027-12-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| ENERGEAN PLC                                | Energean PLC                                                                    | CUSIP: 29280EAA7<br>LEI: 549300RVMKU0CYUZBB05 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $196000.00    | 0.44%             | 2027-04-30      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CACI INTERNATIONAL INC                      | CACI International Inc                                                          | CUSIP: 127190AE6<br>LEI: SYRPI2D1O9WRTS2WX210 | Long             | DBT              | CORP              | US        |    167000 | PA      | $172145.35    | 0.38%             | 2033-06-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| GEN DIGITAL INC                             | Gen Digital Inc                                                                 | CUSIP: 668771AL2<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | DBT              | CORP              | US        |     56000 | PA      | $58118.14     | 0.13%             | 2030-09-30      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| AVIS BUDGET CAR/FINANCE                     | Avis Budget Car Rental LLC / Avis Budget Finance Inc                            | CUSIP: 053773BK2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    197000 | PA      | $206152.03    | 0.46%             | 2032-06-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| FREEDOM MORTGAGE HOLD                       | Freedom Mortgage Holdings LLC                                                   | CUSIP: 35641AAB4<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |     50000 | PA      | $51610.95     | 0.12%             | 2031-05-15      | Fixed         | 9.12%                 | No            |                  2 | On Loan: No      |
| POST HOLDINGS INC                           | Post Holdings Inc                                                               | CUSIP: 737446AV6<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |    278000 | PA      | $280632.94    | 0.63%             | 2033-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| TEGNA INC                                   | TEGNA Inc                                                                       | CUSIP: 87901JAH8<br>LEI: 549300YC5EDBGX85AO10 | Long             | DBT              | CORP              | US        |     22000 | PA      | $21013.53     | 0.05%             | 2029-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BELLRING BRANDS INC                         | BellRing Brands Inc                                                             | CUSIP: 07831CAA1<br>LEI: 549300S3BOK5CMTS8054 | Long             | DBT              | CORP              | US        |    177000 | PA      | $184348.33    | 0.41%             | 2030-03-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| WINDSOR HOLDINGS III LLC                    | Windsor Holdings III LLC                                                        | CUSIP: 97360AAA5<br>LEI: 254900IXUJZ9H146T437 | Long             | DBT              | CORP              | US        |     45000 | PA      | $48179.79     | 0.11%             | 2030-06-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| GCI LLC                                     | GCI LLC                                                                         | CUSIP: 36166TAB6<br>LEI: 549300N3IE9H88Q20221 | Long             | DBT              | CORP              | US        |    258000 | PA      | $249446.68    | 0.56%             | 2028-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                      | CCO Holdings LLC / CCO Holdings Capital Corp                                    | CUSIP: 1248EPCE1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     26000 | PA      | $24788.09     | 0.06%             | 2030-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| NEW FLYER HOLDINGS                          | New Flyer Holdings Inc                                                          | CUSIP: 64438WAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $158148.67    | 0.35%             | 2030-07-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| ENOVA INTERNATIONAL INC                     | Enova International Inc                                                         | CUSIP: 29357KAH6<br>LEI: 549300O8XOCQSB49UO63 | Long             | DBT              | CORP              | US        |    175000 | PA      | $187994.10    | 0.42%             | 2028-12-15      | Fixed         | 11.25%                | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                        | OneMain Finance Corp                                                            | CUSIP: 682691AH3<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    130000 | PA      | $133534.42    | 0.30%             | 2029-05-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                      | Venture Global LNG Inc                                                          | CUSIP: 92332YAD3<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |    166000 | PA      | $179280.45    | 0.40%             | 2032-02-01      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| CREDIT ACCEPTANC                            | Credit Acceptance Corp                                                          | CUSIP: 225310AS0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     67000 | PA      | $67974.18     | 0.15%             | 2030-03-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| CQP HOLDCO LP/BIP-V CHIN                    | CQP Holdco LP / BIP-V Chinook Holdco LLC                                        | CUSIP: 12657NAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $49405.36     | 0.11%             | 2031-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| STRATHCONA RESOURCES                        | Strathcona Resources Ltd/Alberta                                                | CUSIP: 86304TAA6<br>LEI: 549300YNIUISTSZMLF56 | Long             | DBT              | CORP              | CA        |    198000 | PA      | $198283.73    | 0.44%             | 2026-08-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| THOR INDUSTRIES                             | Thor Industries Inc                                                             | CUSIP: 885160AA9<br>LEI: 254900XZO1228PDSG060 | Long             | DBT              | CORP              | US        |    198000 | PA      | $185509.01    | 0.41%             | 2029-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA RESOURCES CRP                    | California Resources Corp                                                       | CUSIP: 13057QAK3<br>LEI: 5493003Q8F0T4F4YMR48 | Long             | DBT              | CORP              | US        |    347000 | PA      | $356111.18    | 0.80%             | 2029-06-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| ACRISURE LLC / FIN INC                      | Acrisure LLC / Acrisure Finance Inc                                             | CUSIP: 004961AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     30000 | PA      | $30420.63     | 0.07%             | 2032-07-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                      | CCO Holdings LLC / CCO Holdings Capital Corp                                    | CUSIP: 1248EPCD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    142000 | PA      | $137553.21    | 0.31%             | 2030-03-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| GLOBAL NET LEASE INC                        | Global Net Lease Inc                                                            | CUSIP: 02608AAA7<br>LEI: 549300NUYANCT5SU8Z65 | Long             | DBT              | CORP              | US        |    227000 | PA      | $219858.88    | 0.49%             | 2028-09-30      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ICAHN ENTERPRISES/FIN                       | Icahn Enterprises LP / Icahn Enterprises Finance Corp                           | CUSIP: 451102CJ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    120000 | PA      | $112432.16    | 0.25%             | 2030-06-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| CONNECT FINCO SARL/CONNE                    | Connect Finco SARL / Connect US Finco LLC                                       | CUSIP: 20752TAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |    205000 | PA      | $206053.29    | 0.46%             | 2029-09-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| MILLICOM INTL CELLULAR                      | Millicom International Cellular SA                                              | CUSIP: 600814AQ0<br>LEI: 549300CTHC1CP86P2G96 | Long             | DBT              | CORP              | LU        |    135000 | PA      | $135318.87    | 0.30%             | 2029-03-25      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| DOMTAR CORP                                 | Domtar Corp                                                                     | CUSIP: 70478JAA2<br>LEI: XYSIJOU3HNVROZWNA008 | Long             | DBT              | CORP              | US        |     98000 | PA      | $88766.62     | 0.20%             | 2028-10-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CHORD ENERGY CORP                           | Chord Energy Corp                                                               | CUSIP: 674215AN8<br>LEI: 529900FA4V2YNIKZ0M71 | Long             | DBT              | CORP              | US        |    256000 | PA      | $260744.70    | 0.58%             | 2033-03-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| AG TTMT ESCROW ISSUER                       | AG TTMT Escrow Issuer LLC                                                       | CUSIP: 00840KAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     75000 | PA      | $77656.43     | 0.17%             | 2027-09-30      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| GENESIS ENERGY LP/FIN                       | Genesis Energy LP / Genesis Energy Finance Corp                                 | CUSIP: 37185LAQ5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     91000 | PA      | $94615.79     | 0.21%             | 2032-05-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| RAIN CARBON INC                             | Rain Carbon Inc                                                                 | CUSIP: 75079LAB7<br>LEI: 25490038N6JQH7QXUK52 | Long             | DBT              | CORP              | US        |    187000 | PA      | $200512.06    | 0.45%             | 2029-09-01      | Fixed         | 12.25%                | No            |                  2 | On Loan: No      |
| TURNING POINT BRANDS INC                    | Turning Point Brands Inc                                                        | CUSIP: 90041LAG0<br>LEI: 549300IYG00QF0VVP302 | Long             | DBT              | CORP              | US        |    138000 | PA      | $144484.90    | 0.32%             | 2032-03-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| HLF FIN SARL LLC/HERBALI                    | HLF Financing Sarl LLC / Herbalife International Inc                            | CUSIP: 40390DAD7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     57000 | PA      | $62039.43     | 0.14%             | 2029-04-15      | Fixed         | 12.25%                | No            |                  2 | On Loan: No      |
| BALDWIN INSUR GRP/FIN                       | Baldwin Insurance Group Holdings LLC / Baldwin Insurance Group Holdings Finance | CUSIP: 05825XAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    275000 | PA      | $285856.45    | 0.64%             | 2031-05-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| GYP HOLDINGS III CORP                       | GYP Holdings III Corp                                                           | CUSIP: 36261NAA5<br>LEI: 549300055I1KJWZH9690 | Long             | DBT              | CORP              | US        |     55000 | PA      | $55159.01     | 0.12%             | 2029-05-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| CVR PARTNERS/CVR NITROGE                    | CVR Partners LP / CVR Nitrogen Finance Corp                                     | CUSIP: 12663QAC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    256000 | PA      | $255701.58    | 0.57%             | 2028-06-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                      | CCO Holdings LLC / CCO Holdings Capital Corp                                    | CUSIP: 1248EPBX0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     46000 | PA      | $45570.22     | 0.10%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GULFPORT ENERGY OP CORP                     | Gulfport Energy Operating Corp                                                  | CUSIP: 402635AT3<br>LEI: 549300FJX18IDUFPHD40 | Long             | DBT              | CORP              | US        |    283000 | PA      | $289830.77    | 0.65%             | 2029-09-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| STEELCASE INC                               | Steelcase Inc                                                                   | CUSIP: 858155AE4<br>LEI: GIE4CCPBJDI8SMV1OX95 | Long             | DBT              | CORP              | US        |    202000 | PA      | $201129.38    | 0.45%             | 2029-01-18      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| INFRABUILD AUSTRALIA PTY                    | Infrabuild Australia Pty Ltd                                                    | CUSIP: 45682RAC4<br>LEI: 549300W2CPB5W6GFH859 | Long             | DBT              | CORP              | AU        |     70000 | PA      | $75549.77     | 0.17%             | 2028-11-15      | Fixed         | 14.50%                | No            |                  2 | On Loan: No      |
| USA COM PART/USA COM FIN                    | USA Compression Partners LP / USA Compression Finance Corp                      | CUSIP: 91740PAG3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    147000 | PA      | $150652.66    | 0.34%             | 2029-03-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| WAYFAIR LLC                                 | Wayfair LLC                                                                     | CUSIP: 94419NAB3<br>LEI: 549300CTUWTZGOXMYI40 | Long             | DBT              | CORP              | US        |    135000 | PA      | $135820.67    | 0.30%             | 2030-09-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                       | Tenet Healthcare Corp                                                           | CUSIP: 88033GDK3<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    221000 | PA      | $221274.70    | 0.49%             | 2028-10-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| ICAHN ENTERPRISES/FIN                       | Icahn Enterprises LP / Icahn Enterprises Finance Corp                           | CUSIP: 451102CK1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    151000 | PA      | $149480.28    | 0.33%             | 2029-11-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| WALGREENS BOOTS ALLIANCE                    | Walgreens Boots Alliance Inc                                                    | CUSIP: 931427AW8<br>LEI: 549300RPTUOIXG4LIH86 | Long             | DBT              | CORP              | US        |    373000 | PA      | $395504.21    | 0.88%             | 2029-08-15      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| BATH & BODY WORKS INC                       | Bath & Body Works Inc                                                           | CUSIP: 532716AK3<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | DBT              | CORP              | US        |     53000 | PA      | $54536.58     | 0.12%             | 2033-03-01      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| US FOODS INC                                | US Foods Inc                                                                    | CUSIP: 90290MAG6<br>LEI: 5493000JOOFAOUY1JZ87 | Long             | DBT              | CORP              | US        |    129000 | PA      | $133450.89    | 0.30%             | 2028-09-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                               | TransDigm Inc                                                                   | CUSIP: 893647BT3<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    250000 | PA      | $261883.00    | 0.59%             | 2031-12-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| BLUELINX HOLDING                            | BlueLinx Holdings Inc                                                           | CUSIP: 09624HAA7<br>LEI: 549300YSX7GU28F5I540 | Long             | DBT              | CORP              | US        |      5000 | PA      | $4809.54      | 0.01%             | 2029-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| UPBOUND GROUP INC                           | Upbound Group Inc                                                               | CUSIP: 76009NAL4<br>LEI: 529900QUHE15UQNCCJ63 | Long             | DBT              | CORP              | US        |    158000 | PA      | $155381.45    | 0.35%             | 2029-02-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| CARVANA CO                                  | Carvana Co                                                                      | CUSIP: 146869AL6<br>LEI: 5493003WEAK2PJ5WS063 | Long             | DBT              | CORP              | US        |     42971 | PA      | $44099.35     | 0.10%             | 2028-12-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| PG&E CORP                                   | PG&E Corp                                                                       | CUSIP: 69331CAM0<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | DBT              | CORP              | US        |    105000 | PA      | $99358.22     | 0.22%             | 2055-03-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| FIRSTCASH INC                               | FirstCash Inc                                                                   | CUSIP: 31944TAA8<br>LEI: 549300V2X3UU7K0DG350 | Long             | DBT              | CORP              | US        |    120000 | PA      | $119630.26    | 0.27%             | 2030-01-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP                                   | Sunoco LP                                                                       | CUSIP: 86765KAB5<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |     50000 | PA      | $52060.60     | 0.12%             | 2029-05-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| GENESIS ENERGY LP/FIN                       | Genesis Energy LP / Genesis Energy Finance Corp                                 | CUSIP: 37185LAP7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     64000 | PA      | $66925.82     | 0.15%             | 2029-01-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| AETHON UN/AETHIN UN FIN                     | Aethon United BR LP / Aethon United Finance Corp                                | CUSIP: 00810GAD6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    125000 | PA      | $131112.63    | 0.29%             | 2029-10-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| HUDSON PACIFIC PROPERTIE                    | Hudson Pacific Properties LP                                                    | CUSIP: 44409MAB2<br>LEI: 5493007NTUGLGZ8T3526 | Long             | DBT              | CORP              | US        |    147000 | PA      | $132038.46    | 0.30%             | 2029-04-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| VIRIDIEN                                    | Viridien                                                                        | CUSIP: 12531QAA3<br>LEI: 969500FCVQ5SLAAUJV59 | Long             | DBT              | CORP              | FR        |    110000 | PA      | $108245.67    | 0.24%             | 2030-10-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| SIRIUS XM RADIO LLC                         | Sirius XM Radio LLC                                                             | CUSIP: 82967NBC1<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |     45000 | PA      | $44774.71     | 0.10%             | 2029-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                      | CCO Holdings LLC / CCO Holdings Capital Corp                                    | CUSIP: 1248EPCT8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    371000 | PA      | $387105.11    | 0.87%             | 2031-03-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| FOOT LOCKER INC                             | Foot Locker Inc                                                                 | CUSIP: 344849AA2<br>LEI: 549300X383CBNP6MTV94 | Long             | DBT              | CORP              | US        |     41000 | PA      | $38670.90     | 0.09%             | 2029-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| POPULAR INC                                 | Popular Inc                                                                     | CUSIP: 733174AL0<br>LEI: 5493008CARDZMVQ3LO89 | Long             | DBT              | CORP              | US        |    166000 | PA      | $176296.65    | 0.39%             | 2028-03-13      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| MATCH GROUP HLD II LLC                      | Match Group Holdings II LLC                                                     | CUSIP: 57665RAJ5<br>LEI: 5493003RFFE030RC9167 | Long             | DBT              | CORP              | US        |    142000 | PA      | $140948.36    | 0.32%             | 2029-02-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| FTAI INFRA ESC HLDGS LLC                    | FTAI Infra Escrow Holdings LLC                                                  | CUSIP: 30327TAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    175000 | PA      | $181788.60    | 0.41%             | 2027-06-01      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| RAKUTEN GROUP INC                           | Rakuten Group Inc                                                               | CUSIP: 75102WAG3<br>LEI: 529900IMXUCQKUL1H943 | Long             | DBT              | CORP              | JP        |    265000 | PA      | $287742.13    | 0.64%             | 2027-02-15      | Fixed         | 11.25%                | No            |                  2 | On Loan: No      |
| BRINKER INTERNATIONAL IN                    | Brinker International Inc                                                       | CUSIP: 109641AK6<br>LEI: 52990067JY6PBGJNTG76 | Long             | DBT              | CORP              | US        |    153000 | PA      | $163054.09    | 0.36%             | 2030-07-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| OWENS-BROCKWAY                              | Owens-Brockway Glass Container Inc                                              | CUSIP: 69073TAV5<br>LEI: V2UQUCDZJ9WY98W8QU33 | Long             | DBT              | CORP              | US        |    106000 | PA      | $107974.67    | 0.24%             | 2032-06-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| FORTRESS TRANS & INFRAST                    | Fortress Transportation and Infrastructure Investors LLC                        | CUSIP: 34960PAE1<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |    125000 | PA      | $132583.75    | 0.30%             | 2030-12-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| PHINIA INC                                  | Phinia Inc                                                                      | CUSIP: 71880KAB7<br>LEI: 254900HG6MORZE1FFM18 | Long             | DBT              | CORP              | US        |    230000 | PA      | $233469.55    | 0.52%             | 2032-10-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| GEO GROUP INC/THE                           | GEO Group Inc/The                                                               | CUSIP: 36162JAH9<br>LEI: 54930024XOXET7NQVZ63 | Long             | DBT              | CORP              | US        |    100000 | PA      | $109675.80    | 0.25%             | 2031-04-15      | Fixed         | 10.25%                | No            |                  2 | On Loan: No      |
| GEN DIGITAL INC                             | Gen Digital Inc                                                                 | CUSIP: 668771AM0<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | DBT              | CORP              | US        |     23000 | PA      | $23620.59     | 0.05%             | 2033-04-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| MILLICOM INTL CELLULAR                      | Millicom International Cellular SA                                              | CUSIP: 600814AS6<br>LEI: 549300CTHC1CP86P2G96 | Long             | DBT              | CORP              | LU        |    205000 | PA      | $210361.78    | 0.47%             | 2032-04-02      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| FMG RESOURCES AUG 2006                      | FMG Resources August 2006 Pty Ltd                                               | CUSIP: 30251GBE6<br>LEI: 549300EFD6S2NFE9D745 | Long             | DBT              | CORP              | AU        |    207000 | PA      | $210508.44    | 0.47%             | 2032-04-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| SEAGATE DATA STOR                           | Seagate Data Storage Technology Pte Ltd                                         | CUSIP: 81180LAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | SG        |     70000 | PA      | $71045.03     | 0.16%             | 2030-07-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| VT TOPCO INC                                | VT Topco Inc                                                                    | CUSIP: 91838PAA9<br>LEI: 5493007T812R37X02Y38 | Long             | DBT              | CORP              | US        |     27000 | PA      | $28468.56     | 0.06%             | 2030-08-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-25

**Name of Applicant:** Forethought Variable Insurance Trust

**Signature:** Cameron Jeffreys, CFA

**Name of Signer:** Cameron Jeffreys, CFA

**Title:** Senior Vice President