# EDGAR Filing Document

**Accession Number:** 0001752019
**File Stem:** 0001410368-25-032214
**Filing Date:** 2025-11
**Character Count:** 944258
**Document Hash:** 9bd02a25f9e62bc57a342411fed7f383
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-25-032214.hdr.sgml**: 20251126

**ACCESSION NUMBER**: 0001410368-25-032214

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251126

**DATE AS OF CHANGE**: 20251126

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BlackRock Credit Strategies Fund
- **CENTRAL INDEX KEY:** 0001752019

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23380
- **FILM NUMBER:** 251525943

**BUSINESS ADDRESS:**
- **STREET 1:** 100 BELLEVUE PARKWAY
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19809
- **BUSINESS PHONE:** (206) 613-6700

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

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BlackRock Credit Opportunities Fund
- **DATE OF NAME CHANGE:** 20180905

## Nport-Ex

September 30, 2025

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

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

**BlackRock Credit Strategies Fund**<br>

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

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

------

Consolidated Schedule of Investments (unaudited)

September 30, 2025

**BlackRock Credit Strategies Fund**

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

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

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par* <br>*(000)*<br>| *Value* |
| **Asset-Backed Securities** | **Asset-Backed Securities** | **Asset-Backed Securities** | **Asset-Backed Securities** |
| &nbsp;&nbsp;&nbsp; 720 East CLO Ltd., Series 2022-1A, Class CR, (3-mo. <br> CME Term SOFR + 1.90%), 6.23%, 01/20/38<sup>(a)(b)</sup><br>| USD | 1000 | &nbsp;&nbsp; $1002845 |
| &nbsp;&nbsp;&nbsp; AGL CLO Ltd., Series 2021-12A, Class B, (3-mo. CME <br> Term SOFR + 1.86%), 6.19%, 07/20/34<sup>(a)(b)</sup><br>|  | 1000 | &nbsp;&nbsp; 1001780 |
| &nbsp;&nbsp;&nbsp; AIMCO CLO Ltd., Series 2020-11A, Class CR2, (3-mo. <br> CME Term SOFR + 1.90%), 6.18%, 07/17/37<sup>(a)(b)</sup><br>|  | 1000 | &nbsp;&nbsp; 1002822 |
| &nbsp;&nbsp;&nbsp; Anchorage Capital CLO Ltd., Series 2019-11A, <br> Class C1R2, (3-mo. CME Term SOFR + 2.40%), <br> 6.73%, 07/22/37<sup>(a)(b)</sup><br>|  | 1000 | &nbsp;&nbsp; 1007282 |
| Ballyrock CLO Ltd.<sup>(a)(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-2A, Class BRR, (3-mo. CME Term SOFR <br> + 2.40%), 6.60%, 02/20/36<br>|  | 1000 | &nbsp;&nbsp; 1001482 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-22A, Class B, (3-mo. CME Term SOFR + <br> 2.35%), 6.67%, 04/15/37<br>|  | 1500 | &nbsp;&nbsp; 1510462 |
| &nbsp;&nbsp;&nbsp; Battalion CLO X Ltd., Series 2016-10A, Class BR2, (3-<br> mo. CME Term SOFR + 2.31%), 6.63%, 01/25/35<sup>(a)(b)</sup><br>|  | 1000 | &nbsp;&nbsp; 1001506 |
| &nbsp;&nbsp;&nbsp; Birch Grove CLO Ltd., Series 2024-9A, Class A1, (3-mo. <br> CME Term SOFR + 1.40%), 5.73%, 10/22/37<sup>(a)(b)</sup><br>|  | 1000 | &nbsp;&nbsp; 1003594 |
| &nbsp;&nbsp;&nbsp; Bryant Park Funding Ltd., Series 2024-22A, Class C, <br> (3-mo. CME Term SOFR + 2.60%), 6.92%, <br> 04/15/37<sup>(a)(b)</sup><br>|  | 1500 | &nbsp;&nbsp; 1510835 |
| &nbsp;&nbsp;&nbsp; CarVal CLO IV Ltd., Series 2021-1A, Class D, (3-mo. <br> CME Term SOFR + 3.51%), 7.84%, 07/20/34<sup>(a)(b)</sup><br>|  | 1000 | &nbsp;&nbsp; 1003283 |
| &nbsp;&nbsp;&nbsp; CarVal CLO VC Ltd., Series 2021-2A, Class C, (3-mo. <br> CME Term SOFR + 2.46%), 6.78%, 10/15/34<sup>(a)(b)</sup><br>|  | 1000 | &nbsp;&nbsp; 1001512 |
| &nbsp;&nbsp;&nbsp; Cook Park CLO Ltd., Series 2018-1A, Class C, (3-mo. <br> CME Term SOFR + 2.01%), 6.29%, 04/17/30<sup>(a)(b)</sup><br>|  | 250 | &nbsp;&nbsp; 250476 |
| &nbsp;&nbsp;&nbsp; Elmwood CLO 21 Ltd., Series 2022-8A, Class AR, (3-mo. <br> CME Term SOFR + 1.65%), 5.98%, 10/20/36<sup>(a)(b)</sup><br>|  | 700 | &nbsp;&nbsp; 701006 |
| &nbsp;&nbsp;&nbsp; Elmwood CLO 26 Ltd., Series 2026-1A, Class C, (3-mo. <br> CME Term SOFR + 2.40%), 6.67%, 04/18/37<sup>(a)(b)</sup><br>|  | 1000 | &nbsp;&nbsp; 1007300 |
| &nbsp;&nbsp;&nbsp; Elmwood CLO 37 Ltd., Series 2024-13A, Class D1, (3-<br> mo. CME Term SOFR + 2.60%), 6.89%, 01/17/38<sup>(a)(b)</sup><br>|  | 1000 | &nbsp;&nbsp; 1004513 |
| &nbsp;&nbsp;&nbsp; Galaxy XXIV CLO Ltd., Series 2024-R, Class CR, (3-mo. <br> CME Term SOFR + 2.45%), 6.77%, 04/15/37<sup>(a)(b)</sup><br>|  | 1106 | &nbsp;&nbsp; 1113841 |
| &nbsp;&nbsp;&nbsp; Generate CLO Ltd., Series 7A, Class A1R, (3-mo. CME <br> Term SOFR + 1.62%), 5.95%, 04/22/37<sup>(a)(b)</sup><br>|  | 1000 | &nbsp;&nbsp; 1003367 |
| &nbsp;&nbsp;&nbsp; Greywolf CLO V Ltd., Series 2015-1A, Class CR, (3-mo. <br> CME Term SOFR + 3.26%), 7.58%, 01/27/31<sup>(a)(b)</sup><br>|  | 500 | &nbsp;&nbsp; 502642 |
| &nbsp;&nbsp;&nbsp; HalseyPoint CLO Ltd., Series 2021-4A, Class C, (3-mo. <br> CME Term SOFR + 2.41%), 6.74%, 04/20/34<sup>(a)(b)</sup><br>|  | 750 | &nbsp;&nbsp; 751140 |
| &nbsp;&nbsp;&nbsp; New Mountain CLO Ltd., Series CLO-3A, Class A1R, <br> (3-mo. CME Term SOFR + 1.33%), 5.61%, <br> 10/20/38<sup>(a)(b)</sup><br>|  | 1000 | &nbsp;&nbsp; 1003750 |
| &nbsp;&nbsp;&nbsp; NYACK Park CLO Ltd., Series 2021-1A, Class C, (3-mo. <br> CME Term SOFR + 2.21%), 6.54%, 10/20/34<sup>(a)(b)</sup><br>|  | 1250 | &nbsp;&nbsp; 1250000 |
| &nbsp;&nbsp;&nbsp; Oaktree CLO Ltd., Series 2024-27A, Class B, (3-mo. <br> CME Term SOFR + 1.65%), 5.98%, 10/22/37<sup>(a)(b)</sup><br>|  | 1500 | &nbsp;&nbsp; 1502805 |
| &nbsp;&nbsp;&nbsp; OCP CLO Ltd., Series 2019-17A, Class CR2, (3-mo. <br> CME Term SOFR + 2.00%), 6.33%, 07/20/37<sup>(a)(b)</sup><br>|  | 1000 | &nbsp;&nbsp; 1004353 |
| &nbsp;&nbsp;&nbsp; OHA Credit Funding Ltd., Series 2019-2A, Class D1R2, <br> (3-mo. CME Term SOFR + 2.70%), 7.03%, <br> 01/21/38<sup>(a)(b)</sup><br>|  | 1000 | &nbsp;&nbsp; 1008750 |
| &nbsp;&nbsp;&nbsp; OHA Credit Partners XV Ltd., Series 2017-15R, <br> Class D1R, (3-mo. CME Term SOFR + 3.45%), <br> 7.78%, 04/20/37<sup>(a)(b)</sup><br>|  | 1500 | &nbsp;&nbsp; 1522373 |
| &nbsp;&nbsp;&nbsp; OHA Loan Funding Ltd., Series 2013-1A, Class D1R3, <br> (3-mo. CME Term SOFR + 3.30%), 7.62%, <br> 04/23/37<sup>(a)(b)</sup><br>|  | 750 | &nbsp;&nbsp; 757368 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Asset-Backed Securities (continued)** | **Asset-Backed Securities (continued)** | **Asset-Backed Securities (continued)** | **Asset-Backed Securities (continued)** |
| &nbsp;&nbsp;&nbsp; Palmer Square CLO Ltd., Series 2021-4A, Class CR, <br> (3-mo. CME Term SOFR + 1.85%), 6.12%, <br> 07/15/38<sup>(a)(b)</sup><br>| USD | 1000 | &nbsp;&nbsp; $1002715 |
| &nbsp;&nbsp;&nbsp; Post CLO Ltd., Series 2022-1A, Class D, (3-mo. CME <br> Term SOFR + 3.20%), 7.53%, 04/20/35<sup>(a)(b)</sup><br>|  | 1000 | &nbsp;&nbsp; 1000992 |
| &nbsp;&nbsp;&nbsp; Regatta XII Funding Ltd., Series 2019-1A, Class ARR, <br> (3-mo. CME Term SOFR + 1.39%), 5.71%, <br> 10/15/37<sup>(a)(b)</sup><br>|  | 1000 | &nbsp;&nbsp; 1003151 |
| &nbsp;&nbsp;&nbsp; Silver Point CLO Ltd., Series 2024-5A, Class C, (3-mo. <br> CME Term SOFR + 2.10%), 6.43%, 10/20/37<sup>(a)(b)</sup><br>|  | 1250 | &nbsp;&nbsp; 1256462 |
| &nbsp;&nbsp;&nbsp; Sixth Street CLO XIX Ltd., Series 2021-19A, Class D1R, <br> (3-mo. CME Term SOFR + 2.80%), 7.08%, <br> 07/17/38<sup>(a)(b)</sup><br>|  | 1000 | &nbsp;&nbsp; 1005051 |
| &nbsp;&nbsp;&nbsp; Sycamore Tree CLO Ltd., Series 2024-5A, Class B, (3-<br> mo. CME Term SOFR + 2.25%), 6.58%, 04/20/36<sup>(a)(b)</sup><br>|  | 1000 | &nbsp;&nbsp; 1002780 |
| &nbsp;&nbsp;&nbsp; Unique Pub Finance Co. PLC, Series 02, Class N, <br> 6.46%, 03/30/32<sup>(c)</sup><br>| GBP | 103 | &nbsp;&nbsp; 145139 |
| &nbsp;&nbsp;&nbsp; Whitebox CLO I Ltd., Series 2019-1A, Class BRR, (3-mo. <br> CME Term SOFR + 1.75%), 6.07%, 07/24/36<sup>(a)(b)</sup><br>| USD | 2000 | &nbsp;&nbsp; 2005360 |
| &nbsp;&nbsp;&nbsp; Whitebox CLO II Ltd., Series 2020-2A, Class CR2, (3-<br> mo. CME Term SOFR + 1.95%), 6.27%, 10/24/37<sup>(a)(b)</sup><br>|  | 640 | &nbsp;&nbsp; 642364 |
| **Total Asset-Backed Securities — 6.0%** <br>**(Cost: $35,293,430)** | **Total Asset-Backed Securities — 6.0%** <br>**(Cost: $35,293,430)** | **Total Asset-Backed Securities — 6.0%** <br>**(Cost: $35,293,430)** | &nbsp;&nbsp; 35495101 |

---

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

---

| | | |
|:---|:---|:---|
|  | <br>*Shares*<br>|  |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Beverages — 0.0%** | **Beverages — 0.0%** |  |
| Juice Plus & Co. LLC<sup>(d)</sup> | 5780 | &nbsp;&nbsp; — |
| **Biotechnology — 0.2%** | **Biotechnology — 0.2%** |  |
| Anika Therapeutics, Inc.<sup>(d)</sup> | 110000 | &nbsp;&nbsp; 1034000 |
| **Broadline Retail — 0.0%** | **Broadline Retail — 0.0%** |  |
| &nbsp;&nbsp;&nbsp; Thrasio LLC, (Acquired 06/18/24, Cost: <br> $1,907,522)<sup>(d)(e)(f)</sup><br>| 20031 | &nbsp;&nbsp; — |
| **Construction & Engineering — 0.0%** | **Construction & Engineering — 0.0%** |  |
| Mcdermott International Ltd.<sup>(d)</sup> | 17 | &nbsp;&nbsp; 338 |
| **Construction Materials — 0.0%** | **Construction Materials — 0.0%** |  |
| &nbsp;&nbsp;&nbsp; Kellermeyer Bergensons Services LLC, Preference <br> Shares<sup>(d)(e)</sup><br>| 45118 | &nbsp;&nbsp; 1 |
| **Consumer Discretionary — 0.0%** | **Consumer Discretionary — 0.0%** |  |
| Virgil Holdings, Inc.<sup>(d)(e)</sup> | 79434 | &nbsp;&nbsp; 1 |
| **Diversified Consumer Services — 0.0%** | **Diversified Consumer Services — 0.0%** |  |
| &nbsp;&nbsp;&nbsp; Pluralsight LLC, (Acquired 08/22/24, Cost: <br> $77,568)<sup>(d)(e)(f)</sup><br>| 208956 | &nbsp;&nbsp; 2 |
| **Entertainment — 0.0%** | **Entertainment — 0.0%** |  |
| &nbsp;&nbsp;&nbsp; Learfield Communications LLC, (Acquired 09/06/23, <br> Cost: $2,060)<sup>(d)(e)(f)</sup><br>| 164 | &nbsp;&nbsp; 17220 |
| **Financial Services**<sup>(d)(e)</sup> **— 0.0%** | **Financial Services**<sup>(d)(e)</sup> **— 0.0%** |  |
| Aimbridge Acquisition Co., Inc. | 640 | &nbsp;&nbsp; 41299 |
| Creditex LLC | 5923 | &nbsp;&nbsp; — |
|  |  | &nbsp;&nbsp; 41299 |
| **Ground Transportation — 0.0%** | **Ground Transportation — 0.0%** |  |
| Sirva BGRS Holdings, Inc.<sup>(d)</sup> | 34 | &nbsp;&nbsp; 29 |

---

------

Consolidated Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Credit Strategies Fund**

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

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Health Care Providers & Services — 0.0%** | **Health Care Providers & Services — 0.0%** |  |
| Quorum Restructuring Equity<sup>(d)</sup> | 43661 | &nbsp;&nbsp; $32746 |
| **Health Care Technology — 0.3%** | **Health Care Technology — 0.3%** |  |
| Veradigm, Inc.<sup>(d)</sup> | 425000 | &nbsp;&nbsp; 2040000 |
| **Household Durables — 0.7%** | **Household Durables — 0.7%** |  |
| Homerenew Buyer, Inc., Series A-1<sup>(d)(e)</sup> | 1568 | &nbsp;&nbsp; 238472 |
| Homerenew Buyer, Inc., Series B-1<sup>(d)(e)</sup> | 2520 | &nbsp;&nbsp; — |
| Homerenew Buyer, Inc., Series C-1<sup>(d)(e)</sup> | 3942 | &nbsp;&nbsp; — |
| Lennar Corp., Class A | 16000 | &nbsp;&nbsp; 2016640 |
| Taylor Morrison Home Corp., Class A<sup>(d)</sup> | 30000 | &nbsp;&nbsp; 1980300 |
|  |  | &nbsp;&nbsp; 4235412 |
| **Industrial Conglomerates — 0.0%** | **Industrial Conglomerates — 0.0%** |  |
| SVP Singer<sup>(d)</sup> | 1930 | &nbsp;&nbsp; 8444 |
| **IT Services — 0.0%** | **IT Services — 0.0%** |  |
| Travelport LLC<sup>(d)(e)</sup> | 10 | &nbsp;&nbsp; 30182 |
| **Real Estate Management & Development — 0.0%** | **Real Estate Management & Development — 0.0%** |  |
| ADLER Group SA<sup>(d)(e)</sup> | 16485 | &nbsp;&nbsp; — |
| **Retail REITs — 0.3%** | **Retail REITs — 0.3%** |  |
| Pennsylvania REIT<sup>(d)</sup> | 70000 | &nbsp;&nbsp; 1697500 |
| **Specialty Retail — 0.0%** | **Specialty Retail — 0.0%** |  |
| Razor Group & Infinite Commerce<sup>(d)(e)</sup> | 23794 | &nbsp;&nbsp; — |
| **Trading Companies & Distributors — 0.0%** | **Trading Companies & Distributors — 0.0%** |  |
| TMK Hawk Midco Corp.<sup>(d)(e)</sup> | 543 | &nbsp;&nbsp; 5973 |
| **Total Common Stocks — 1.5%** <br>**(Cost: $11,581,178)** | **Total Common Stocks — 1.5%** <br>**(Cost: $11,581,178)** | &nbsp;&nbsp; 9143147 |

---

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

---

| | | | |
|:---|:---|:---|:---|
|  |  | *Par* <br>*(000)*<br>|  |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Advertising Agencies — 0.1%** | **Advertising Agencies — 0.1%** | **Advertising Agencies — 0.1%** | **Advertising Agencies — 0.1%** |
| Clear Channel Outdoor Holdings, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 7.75%, 04/15/28 | USD | 12 | &nbsp;&nbsp; 11978 |
| &nbsp;&nbsp;&nbsp; 7.50%, 06/01/29 |  | 66 | &nbsp;&nbsp; 64100 |
| &nbsp;&nbsp;&nbsp; 7.88%, 04/01/30 |  | 74 | &nbsp;&nbsp; 77702 |
| &nbsp;&nbsp;&nbsp; 7.13%, 02/15/31 |  | 65 | &nbsp;&nbsp; 67188 |
| &nbsp;&nbsp;&nbsp; 7.50%, 03/15/33 |  | 98 | &nbsp;&nbsp; 102466 |
| CMG Media Corp., 8.88%, 06/18/29<sup>(b)</sup> |  | 28 | &nbsp;&nbsp; 25716 |
| Neptune Bidco U.S., Inc., 9.29%, 04/15/29<sup>(b)</sup> |  | 73 | &nbsp;&nbsp; 71663 |
| &nbsp;&nbsp;&nbsp; Outfront Media Capital LLC/Outfront Media Capital <br> Corp.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 08/15/27 |  | 4 | &nbsp;&nbsp; 3980 |
| &nbsp;&nbsp;&nbsp; 4.63%, 03/15/30 |  | 79 | &nbsp;&nbsp; 75926 |
| Summer BC Holdco B SARL, 5.88%, 02/15/30<sup>(c)</sup> | EUR | 100 | &nbsp;&nbsp; 114671 |
|  |  |  | &nbsp;&nbsp; 615390 |
| **Aerospace & Defense — 0.2%** | **Aerospace & Defense — 0.2%** | **Aerospace & Defense — 0.2%** | **Aerospace & Defense — 0.2%** |
| Bombardier, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.00%, 02/15/28 | USD | 182 | &nbsp;&nbsp; 182460 |
| &nbsp;&nbsp;&nbsp; 8.75%, 11/15/30 |  | 33 | &nbsp;&nbsp; 35587 |
| &nbsp;&nbsp;&nbsp; 7.00%, 06/01/32 |  | 19 | &nbsp;&nbsp; 19858 |
| &nbsp;&nbsp;&nbsp; 6.75%, 06/15/33 |  | 26 | &nbsp;&nbsp; 27133 |
| Czechoslovak Group A/S, 5.25%, 01/10/31<sup>(c)</sup> | EUR | 150 | &nbsp;&nbsp; 183152 |
| Goat Holdco LLC, 6.75%, 02/01/32<sup>(b)</sup> | USD | 23 | &nbsp;&nbsp; 23575 |
| Spirit AeroSystems, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 9.38%, 11/30/29 |  | 85 | &nbsp;&nbsp; 89524 |
| &nbsp;&nbsp;&nbsp; 9.75%, 11/15/30 |  | 39 | &nbsp;&nbsp; 42892 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Aerospace & Defense (continued)** | **Aerospace & Defense (continued)** | **Aerospace & Defense (continued)** | **Aerospace & Defense (continued)** |
| TransDigm, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.38%, 05/31/33 | USD | 103 | &nbsp;&nbsp; $104158 |
| &nbsp;&nbsp;&nbsp; 6.25%, 01/31/34 |  | 15 | &nbsp;&nbsp; 15426 |
| &nbsp;&nbsp;&nbsp; 6.75%, 01/31/34 |  | 141 | &nbsp;&nbsp; 145788 |
|  |  |  | &nbsp;&nbsp; 869553 |
| **Air Freight & Logistics**<sup>(b)</sup> **— 0.0%** | **Air Freight & Logistics**<sup>(b)</sup> **— 0.0%** | **Air Freight & Logistics**<sup>(b)</sup> **— 0.0%** | **Air Freight & Logistics**<sup>(b)</sup> **— 0.0%** |
| Rand Parent LLC, 8.50%, 02/15/30 |  | 15 | &nbsp;&nbsp; 15586 |
| Stonepeak Nile Parent LLC, 7.25%, 03/15/32 |  | 7 | &nbsp;&nbsp; 7371 |
|  |  |  | &nbsp;&nbsp; 22957 |
| **Automobile Components — 0.3%** | **Automobile Components — 0.3%** | **Automobile Components — 0.3%** | **Automobile Components — 0.3%** |
| American Axle & Manufacturing, Inc.<sup>(b)(g)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 10/15/32 |  | 10 | &nbsp;&nbsp; 9983 |
| &nbsp;&nbsp;&nbsp; 10/15/33 |  | 10 | &nbsp;&nbsp; 10078 |
| Clarios Global LP/Clarios U.S. Finance Co. |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.75%, 02/15/30<sup>(b)</sup> |  | 40 | &nbsp;&nbsp; 41320 |
| &nbsp;&nbsp;&nbsp; 4.75%, 06/15/31<sup>(c)</sup> | EUR | 140 | &nbsp;&nbsp; 167464 |
| &nbsp;&nbsp;&nbsp; 6.75%, 09/15/32<sup>(b)</sup> | USD | 52 | &nbsp;&nbsp; 53152 |
| Dana, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.25%, 09/01/30 |  | 6 | &nbsp;&nbsp; 5942 |
| &nbsp;&nbsp;&nbsp; 4.50%, 02/15/32 |  | 8 | &nbsp;&nbsp; 7877 |
| Forvia SE, 5.50%, 06/15/31<sup>(c)</sup> | EUR | 200 | &nbsp;&nbsp; 241421 |
| &nbsp;&nbsp;&nbsp; Garrett Motion Holdings, Inc./Garrett LX I SARL, 7.75%, <br> 05/31/32<sup>(b)</sup><br>| USD | 10 | &nbsp;&nbsp; 10490 |
| Gestamp Automocion SA, 10/15/30<sup>(c)(g)</sup> | EUR | 100 | &nbsp;&nbsp; 117869 |
| Goodyear Tire & Rubber Co. |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.63%, 07/15/30 | USD | 13 | &nbsp;&nbsp; 13191 |
| &nbsp;&nbsp;&nbsp; 5.25%, 04/30/31 |  | 3 | &nbsp;&nbsp; 2835 |
| &nbsp;&nbsp;&nbsp; IHO Verwaltungs GmbH, (8.75% Cash or 9.50% PIK), <br> 8.75%, 05/15/28<sup>(c)(h)</sup><br>| EUR | 320 | &nbsp;&nbsp; 393487 |
| Mahle GmbH, 6.50%, 05/02/31<sup>(c)</sup> |  | 157 | &nbsp;&nbsp; 190806 |
| Qnity Electronics, Inc., 6.25%, 08/15/33<sup>(b)</sup> | USD | 17 | &nbsp;&nbsp; 17360 |
| Schaeffler AG<sup>(c)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 4.25%, 04/01/28 | EUR | 100 | &nbsp;&nbsp; 119329 |
| &nbsp;&nbsp;&nbsp; 5.38%, 04/01/31 |  | 100 | &nbsp;&nbsp; 122936 |
| Tenneco, Inc., 8.00%, 11/17/28<sup>(b)</sup> | USD | 39 | &nbsp;&nbsp; 39071 |
| ZF Europe Finance BV<sup>(c)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 2.50%, 10/23/27 | EUR | 300 | &nbsp;&nbsp; 341135 |
| &nbsp;&nbsp;&nbsp; 7.00%, 06/12/30 |  | 100 | &nbsp;&nbsp; 121870 |
|  |  |  | &nbsp;&nbsp; 2027616 |
| **Automobiles — 0.2%** | **Automobiles — 0.2%** | **Automobiles — 0.2%** | **Automobiles — 0.2%** |
| Aston Martin Capital Holdings Ltd., 10.38%, 03/31/29<sup>(c)</sup> | GBP | 226 | &nbsp;&nbsp; 295540 |
| Carvana Co.<sup>(b)(h)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; (9.00% PIK), 9.00%, 06/01/30 | USD | 40 | &nbsp;&nbsp; 42230 |
| &nbsp;&nbsp;&nbsp; (9.00% PIK), 9.00%, 06/01/31 |  | 85 | &nbsp;&nbsp; 96371 |
| Cougar JV Subsidiary LLC, 8.00%, 05/15/32<sup>(b)</sup> |  | 14 | &nbsp;&nbsp; 14885 |
| LCM Investments Holdings II LLC, 4.88%, 05/01/29<sup>(b)</sup> |  | 51 | &nbsp;&nbsp; 49967 |
| Nissan Motor Acceptance Co. LLC, 6.13%, 09/30/30<sup>(b)</sup> |  | 34 | &nbsp;&nbsp; 34012 |
| Nissan Motor Co. Ltd.<sup>(c)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.25%, 07/17/29 | EUR | 136 | &nbsp;&nbsp; 162725 |
| &nbsp;&nbsp;&nbsp; 6.38%, 07/17/33 |  | 100 | &nbsp;&nbsp; 120875 |
| RCI Banque SA<sup>(a)(c)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5-year EURIBOR ICE Swap + 2.20%), 4.75%, <br> 03/24/37<br>|  | 100 | &nbsp;&nbsp; 119454 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5-year EURIBOR ICE Swap + 2.75%), 5.50%, <br> 10/09/34<br>|  | 200 | &nbsp;&nbsp; 246993 |
| &nbsp;&nbsp;&nbsp; Rivian Holdings LLC/Rivian LLC/Rivian Automotive LLC, <br> 10.00%, 01/15/31<sup>(b)</sup><br>| USD | 14 | &nbsp;&nbsp; 13032 |
|  |  |  | &nbsp;&nbsp; 1196084 |

---

Consolidated Schedule of Investments

------

Consolidated Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Credit Strategies Fund**

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

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Banks — 0.4%** | **Banks — 0.4%** | **Banks — 0.4%** | **Banks — 0.4%** |
| &nbsp;&nbsp;&nbsp; Abanca Corp. Bancaria SA, (5-year EURIBOR ICE Swap <br> + 2.45%), 4.63%, 12/11/36<sup>(a)(c)</sup><br>| EUR | 100 | &nbsp;&nbsp; $120900 |
| &nbsp;&nbsp;&nbsp; ANB Tier 1 Sukuk Co. Ltd., (5-year CMT + 2.60%), <br> 6.40%<sup>(a)(c)(i)</sup><br>| USD | 200 | &nbsp;&nbsp; 200938 |
| &nbsp;&nbsp;&nbsp; Banca Monte dei Paschi di Siena SpA, (5-year EURIBOR <br> ICE Swap + 2.15%), 4.38%, 10/02/35<sup>(a)(c)</sup><br>| EUR | 200 | &nbsp;&nbsp; 239459 |
| &nbsp;&nbsp;&nbsp; Banco Bilbao Vizcaya Argentaria SA, (5-year EUR Swap <br> + 4.27%), 6.88%<sup>(a)(c)(i)</sup><br>|  | 200 | &nbsp;&nbsp; 253496 |
| &nbsp;&nbsp;&nbsp; Bangkok Bank PCL/Hong Kong, (5-year CMT + 1.90%), <br> 3.73%, 09/25/34<sup>(a)(c)</sup><br>| USD | 200 | &nbsp;&nbsp; 189573 |
| &nbsp;&nbsp;&nbsp; Bank of East Asia Ltd., (5-year CMT + 2.30%), 4.88%, <br> 04/22/32<sup>(a)(c)</sup><br>|  | 250 | &nbsp;&nbsp; 249180 |
| &nbsp;&nbsp;&nbsp; Chiyu Banking Corp. Ltd., (5-year CMT + 3.20%), 5.75%, <br> 04/07/32<sup>(a)(c)</sup><br>|  | 250 | &nbsp;&nbsp; 248733 |
| &nbsp;&nbsp;&nbsp; Eurobank Ergasias Services and Holdings SA, (5-year <br> EURIBOR ICE Swap + 2.00%), 4.25%, 04/30/35<sup>(a)(c)</sup><br>| EUR | 100 | &nbsp;&nbsp; 118185 |
| &nbsp;&nbsp;&nbsp; Kasikornbank PCL/Hong Kong, (5-year CMT + 1.70%), <br> 3.34%, 10/02/31<sup>(a)(c)</sup><br>| USD | 200 | &nbsp;&nbsp; 196342 |
| &nbsp;&nbsp;&nbsp; National Bank of Greece SA, (5-year EURIBOR ICE <br> Swap + 3.15%), 5.88%, 06/28/35<sup>(a)(c)</sup><br>| EUR | 150 | &nbsp;&nbsp; 189452 |
| &nbsp;&nbsp;&nbsp; Riyad Sukuk Ltd., (5-year CMT + 2.25%), 6.21%, <br> 07/14/35<sup>(a)(c)</sup><br>| USD | 400 | &nbsp;&nbsp; 407830 |
| &nbsp;&nbsp;&nbsp; Riyad T1 Sukuk Ltd., (5-year CMT + 1.91%), <br> 5.50%<sup>(a)(c)(i)</sup><br>|  | 200 | &nbsp;&nbsp; 195992 |
| Walker & Dunlop, Inc., 6.63%, 04/01/33<sup>(b)</sup> |  | 11 | &nbsp;&nbsp; 11249 |
|  |  |  | &nbsp;&nbsp; 2621329 |
| **Beverages — 0.0%** | **Beverages — 0.0%** | **Beverages — 0.0%** | **Beverages — 0.0%** |
| Juice Plus & Co. LLC, 0.00%, 08/12/27<sup>(e)</sup> |  | 34 | &nbsp;&nbsp; 34340 |
| **Biotechnology — 0.1%** | **Biotechnology — 0.1%** | **Biotechnology — 0.1%** | **Biotechnology — 0.1%** |
| Biocon Biologics Global PLC, 6.67%, 10/09/29<sup>(c)</sup> |  | 400 | &nbsp;&nbsp; 385796 |
| **Building Materials — 0.2%** | **Building Materials — 0.2%** | **Building Materials — 0.2%** | **Building Materials — 0.2%** |
| AmeriTex HoldCo Intermediate LLC, 7.63%, 08/15/33<sup>(b)</sup> |  | 17 | &nbsp;&nbsp; 17694 |
| Builders FirstSource, Inc., 6.75%, 05/15/35<sup>(b)</sup> |  | 13 | &nbsp;&nbsp; 13574 |
| CP Atlas Buyer, Inc., 9.75%, 07/15/30<sup>(b)</sup> |  | 4 | &nbsp;&nbsp; 4189 |
| EMRLD Borrower LP/Emerald Co-Issuer, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.38%, 12/15/30<sup>(c)</sup> | EUR | 103 | &nbsp;&nbsp; 126337 |
| &nbsp;&nbsp;&nbsp; 6.75%, 07/15/31<sup>(b)</sup> | USD | 48 | &nbsp;&nbsp; 49855 |
| HT Troplast GmbH, 9.38%, 07/15/28<sup>(c)</sup> | EUR | 200 | &nbsp;&nbsp; 245228 |
| Jeld-Wen, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 4.88%, 12/15/27 | USD | 23 | &nbsp;&nbsp; 22445 |
| &nbsp;&nbsp;&nbsp; 7.00%, 09/01/32 |  | 10 | &nbsp;&nbsp; 8445 |
| JH North America Holdings, Inc., 6.13%, 07/31/32<sup>(b)</sup> |  | 18 | &nbsp;&nbsp; 18437 |
| New Enterprise Stone & Lime Co., Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.25%, 07/15/28 |  | 36 | &nbsp;&nbsp; 35668 |
| &nbsp;&nbsp;&nbsp; 9.75%, 07/15/28 |  | 20 | &nbsp;&nbsp; 20044 |
| PCF GmbH, 4.75%, 04/15/29<sup>(c)</sup> | EUR | 171 | &nbsp;&nbsp; 154987 |
| Quikrete Holdings, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.38%, 03/01/32 | USD | 89 | &nbsp;&nbsp; 92190 |
| &nbsp;&nbsp;&nbsp; 6.75%, 03/01/33 |  | 27 | &nbsp;&nbsp; 28072 |
| Smyrna Ready Mix Concrete LLC, 8.88%, 11/15/31<sup>(b)</sup> |  | 18 | &nbsp;&nbsp; 19007 |
| Standard Building Solutions, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.50%, 08/15/32 |  | 17 | &nbsp;&nbsp; 17442 |
| &nbsp;&nbsp;&nbsp; 6.25%, 08/01/33 |  | 47 | &nbsp;&nbsp; 47629 |
| Wilsonart LLC, 11.00%, 08/15/32<sup>(b)</sup> |  | 24 | &nbsp;&nbsp; 23363 |
|  |  |  | &nbsp;&nbsp; 944606 |
| **Building Products**<sup>(b)</sup> **— 0.1%** | **Building Products**<sup>(b)</sup> **— 0.1%** | **Building Products**<sup>(b)</sup> **— 0.1%** | **Building Products**<sup>(b)</sup> **— 0.1%** |
| Foundation Building Materials, Inc., 6.00%, 03/01/29 |  | 2 | &nbsp;&nbsp; 2027 |
| Park River Holdings, Inc., 03/15/31<sup>(g)</sup> |  | 10 | &nbsp;&nbsp; 10127 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Building Products (continued)** | **Building Products (continued)** | **Building Products (continued)** | **Building Products (continued)** |
| QXO Building Products, Inc., 6.75%, 04/30/32 | USD | 65 | &nbsp;&nbsp; $67301 |
| White Cap Buyer LLC, 6.88%, 10/15/28 |  | 189 | &nbsp;&nbsp; 188438 |
|  |  |  | &nbsp;&nbsp; 267893 |
| **Capital Markets — 0.1%** | **Capital Markets — 0.1%** | **Capital Markets — 0.1%** | **Capital Markets — 0.1%** |
| Apollo Debt Solutions BDC |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.70%, 07/29/31 |  | 15 | &nbsp;&nbsp; 15897 |
| &nbsp;&nbsp;&nbsp; 6.55%, 03/15/32<sup>(b)</sup> |  | 4 | &nbsp;&nbsp; 4198 |
| Blackstone Private Credit Fund, 6.00%, 11/22/34 |  | 38 | &nbsp;&nbsp; 38914 |
| Blue Owl Capital Corp., 6.20%, 07/15/30 |  | 35 | &nbsp;&nbsp; 35991 |
| Blue Owl Capital Corp. II, 8.45%, 11/15/26 |  | 11 | &nbsp;&nbsp; 11396 |
| Blue Owl Technology Finance Corp., 6.75%, 04/04/29 |  | 3 | &nbsp;&nbsp; 3095 |
| Focus Financial Partners LLC, 6.75%, 09/15/31<sup>(b)</sup> |  | 40 | &nbsp;&nbsp; 40965 |
| &nbsp;&nbsp;&nbsp; HA Sustainable Infrastructure Capital, Inc., 6.38%, <br> 07/01/34<br>|  | 6 | &nbsp;&nbsp; 6106 |
| Icahn Enterprises LP/Icahn Enterprises Finance Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.25%, 05/15/27 |  | 84 | &nbsp;&nbsp; 82567 |
| &nbsp;&nbsp;&nbsp; 9.75%, 01/15/29 |  | 14 | &nbsp;&nbsp; 14129 |
| &nbsp;&nbsp;&nbsp; 4.38%, 02/01/29 |  | 3 | &nbsp;&nbsp; 2590 |
| &nbsp;&nbsp;&nbsp; 10.00%, 11/15/29<sup>(b)</sup> |  | 24 | &nbsp;&nbsp; 24106 |
| Osaic Holdings, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.75%, 08/01/32 |  | 10 | &nbsp;&nbsp; 10328 |
| &nbsp;&nbsp;&nbsp; 8.00%, 08/01/33 |  | 17 | &nbsp;&nbsp; 17619 |
|  |  |  | &nbsp;&nbsp; 307901 |
| **Chemicals — 0.6%** | **Chemicals — 0.6%** | **Chemicals — 0.6%** | **Chemicals — 0.6%** |
| &nbsp;&nbsp;&nbsp; Advancion Sciences, Inc., (9.25% Cash or 10.00% PIK), <br> 9.25%, 11/01/26<sup>(b)(h)</sup><br>|  | 28 | &nbsp;&nbsp; 24690 |
| Celanese U.S. Holdings LLC, 6.75%, 04/15/33 |  | 11 | &nbsp;&nbsp; 10953 |
| Chemours Co. |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.38%, 05/15/27 |  | 16 | &nbsp;&nbsp; 15987 |
| &nbsp;&nbsp;&nbsp; 5.75%, 11/15/28<sup>(b)</sup> |  | 15 | &nbsp;&nbsp; 14631 |
| &nbsp;&nbsp;&nbsp; 8.00%, 01/15/33<sup>(b)</sup> |  | 6 | &nbsp;&nbsp; 5968 |
| FIS Fabbrica Italiana Sintetici SpA, 5.63%, 08/01/27<sup>(c)</sup> | EUR | 300 | &nbsp;&nbsp; 354879 |
| INEOS Finance PLC<sup>(c)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.38%, 04/15/29 |  | 202 | &nbsp;&nbsp; 234860 |
| &nbsp;&nbsp;&nbsp; 7.25%, 03/31/31 |  | 164 | &nbsp;&nbsp; 192271 |
| INEOS Quattro Finance 2 PLC, 8.50%, 03/15/29<sup>(c)</sup> |  | 104 | &nbsp;&nbsp; 122066 |
| Itelyum Regeneration SpA, 5.75%, 04/15/30<sup>(c)</sup> |  | 100 | &nbsp;&nbsp; 119447 |
| &nbsp;&nbsp;&nbsp; Kronos International, Inc., Series SEP, 9.50%, <br> 03/15/29<sup>(c)</sup><br>|  | 257 | &nbsp;&nbsp; 317970 |
| Lune Holdings SARL, 5.63%, 11/15/28<sup>(c)</sup> |  | 102 | &nbsp;&nbsp; 36990 |
| Mativ Holdings, Inc., 8.00%, 10/01/29<sup>(b)</sup> | USD | 12 | &nbsp;&nbsp; 11881 |
| Methanex U.S. Operations, Inc., 6.25%, 03/15/32<sup>(b)</sup> |  | 11 | &nbsp;&nbsp; 11192 |
| Olympus Water U.S. Holding Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; 9.63%, 11/15/28<sup>(c)</sup> | EUR | 427 | &nbsp;&nbsp; 525794 |
| &nbsp;&nbsp;&nbsp; 9.75%, 11/15/28<sup>(b)</sup> | USD | 200 | &nbsp;&nbsp; 209900 |
| &nbsp;&nbsp;&nbsp; 5.38%, 10/01/29<sup>(c)</sup> | EUR | 100 | &nbsp;&nbsp; 111349 |
| &nbsp;&nbsp;&nbsp; 02/15/33<sup>(c)(g)</sup> |  | 106 | &nbsp;&nbsp; 124746 |
| &nbsp;&nbsp;&nbsp; SCIL IV LLC/SCIL USA Holdings LLC, 9.50%, <br> 07/15/28<sup>(c)</sup><br>|  | 500 | &nbsp;&nbsp; 616054 |
| WR Grace Holdings LLC<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 4.88%, 06/15/27 | USD | 3 | &nbsp;&nbsp; 2981 |
| &nbsp;&nbsp;&nbsp; 5.63%, 08/15/29 |  | 150 | &nbsp;&nbsp; 139425 |
| &nbsp;&nbsp;&nbsp; 7.38%, 03/01/31 |  | 51 | &nbsp;&nbsp; 52010 |
| &nbsp;&nbsp;&nbsp; 6.63%, 08/15/32 |  | 45 | &nbsp;&nbsp; 44495 |
|  |  |  | &nbsp;&nbsp; 3300539 |
| **Commercial Services & Supplies — 0.7%** | **Commercial Services & Supplies — 0.7%** | **Commercial Services & Supplies — 0.7%** | **Commercial Services & Supplies — 0.7%** |
| ADT Security Corp., 10/15/33<sup>(b)(g)</sup> |  | 34 | &nbsp;&nbsp; 34000 |
| &nbsp;&nbsp;&nbsp; Albion Financing 1 SARL/Aggreko Holdings, Inc., 5.38%, <br> 05/21/30<sup>(c)</sup><br>| EUR | 113 | &nbsp;&nbsp; 137625 |
| Allied Universal Holdco LLC, 7.88%, 02/15/31<sup>(b)</sup> | USD | 224 | &nbsp;&nbsp; 234863 |

---

------

Consolidated Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Credit Strategies Fund**

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

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Commercial Services & Supplies (continued)** | **Commercial Services & Supplies (continued)** | **Commercial Services & Supplies (continued)** | **Commercial Services & Supplies (continued)** |
| &nbsp;&nbsp;&nbsp; Allied Universal Holdco LLC/Allied Universal Finance <br> Corp.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.00%, 06/01/29 | USD | 200 | &nbsp;&nbsp; $196611 |
| &nbsp;&nbsp;&nbsp; 6.88%, 06/15/30 |  | 51 | &nbsp;&nbsp; 52419 |
| &nbsp;&nbsp;&nbsp; Allied Universal Holdco LLC/Allied Universal Finance <br> Corp./Atlas Luxco 4 SARL, 4.88%, 06/01/28<sup>(c)</sup><br>| GBP | 400 | &nbsp;&nbsp; 525915 |
| BCP V Modular Services Finance II PLC<sup>(c)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 4.75%, 11/30/28 | EUR | 100 | &nbsp;&nbsp; 112394 |
| &nbsp;&nbsp;&nbsp; 6.13%, 11/30/28 | GBP | 100 | &nbsp;&nbsp; 125558 |
| &nbsp;&nbsp;&nbsp; 6.50%, 07/10/31 | EUR | 191 | &nbsp;&nbsp; 209645 |
| &nbsp;&nbsp;&nbsp; BCP V Modular Services Finance PLC, 6.75%, <br> 11/30/29<sup>(c)</sup><br>|  | 129 | &nbsp;&nbsp; 113546 |
| Boels Topholding BV, 5.75%, 05/15/30<sup>(c)</sup> |  | 273 | &nbsp;&nbsp; 332419 |
| Deluxe Corp., 8.13%, 09/15/29<sup>(b)</sup> | USD | 8 | &nbsp;&nbsp; 8354 |
| EquipmentShare.com, Inc., 8.00%, 03/15/33<sup>(b)</sup> |  | 10 | &nbsp;&nbsp; 10687 |
| FTAI Aviation Investors LLC<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.50%, 05/01/28 |  | 114 | &nbsp;&nbsp; 114018 |
| &nbsp;&nbsp;&nbsp; 7.00%, 05/01/31 |  | 92 | &nbsp;&nbsp; 96237 |
| &nbsp;&nbsp;&nbsp; 7.00%, 06/15/32 |  | 48 | &nbsp;&nbsp; 50233 |
| &nbsp;&nbsp;&nbsp; 5.88%, 04/15/33 |  | 4 | &nbsp;&nbsp; 4025 |
| Garda World Security Corp.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 7.75%, 02/15/28 |  | 69 | &nbsp;&nbsp; 70732 |
| &nbsp;&nbsp;&nbsp; 6.00%, 06/01/29 |  | 4 | &nbsp;&nbsp; 3966 |
| &nbsp;&nbsp;&nbsp; 8.25%, 08/01/32 |  | 62 | &nbsp;&nbsp; 64269 |
| &nbsp;&nbsp;&nbsp; 8.38%, 11/15/32 |  | 67 | &nbsp;&nbsp; 69548 |
| Herc Holdings, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 7.00%, 06/15/30 |  | 29 | &nbsp;&nbsp; 30123 |
| &nbsp;&nbsp;&nbsp; 7.25%, 06/15/33 |  | 41 | &nbsp;&nbsp; 42800 |
| Hertz Corp., 12.63%, 07/15/29<sup>(b)</sup> |  | 9 | &nbsp;&nbsp; 9541 |
| ION Platform Finance SARL<sup>(g)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 09/30/30 | EUR | 100 | &nbsp;&nbsp; 117405 |
| &nbsp;&nbsp;&nbsp; 09/30/32 |  | 100 | &nbsp;&nbsp; 117405 |
| Kapla Holding SAS<sup>(c)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 04/30/31 |  | 200 | &nbsp;&nbsp; 237265 |
| &nbsp;&nbsp;&nbsp; (3-mo. EURIBOR + 3.50%), 5.51%, 07/31/30<sup>(a)</sup> |  | 100 | &nbsp;&nbsp; 117866 |
| Loxam SAS<sup>(c)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 4.25%, 02/15/30 |  | 147 | &nbsp;&nbsp; 173441 |
| &nbsp;&nbsp;&nbsp; 4.25%, 02/15/31 |  | 100 | &nbsp;&nbsp; 117452 |
| Pachelbel Bidco SpA<sup>(c)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 7.13%, 05/17/31 |  | 100 | &nbsp;&nbsp; 126495 |
| &nbsp;&nbsp;&nbsp; (3-mo. EURIBOR + 4.25%), 6.27%, 05/17/31<sup>(a)</sup> |  | 100 | &nbsp;&nbsp; 118281 |
| RR Donnelley & Sons Co., 9.50%, 08/01/29<sup>(b)</sup> | USD | 47 | &nbsp;&nbsp; 48169 |
| Verisure Holding AB, 7.13%, 02/01/28<sup>(c)</sup> | EUR | 139 | &nbsp;&nbsp; 168687 |
| Veritiv Operating Co., 10.50%, 11/30/30<sup>(b)</sup> | USD | 12 | &nbsp;&nbsp; 12879 |
| Wand NewCo 3, Inc., 7.63%, 01/30/32<sup>(b)</sup> |  | 57 | &nbsp;&nbsp; 60056 |
|  |  |  | &nbsp;&nbsp; 4064929 |
| **Communications Equipment — 0.0%** | **Communications Equipment — 0.0%** | **Communications Equipment — 0.0%** | **Communications Equipment — 0.0%** |
| CommScope LLC, 4.75%, 09/01/29<sup>(b)</sup> |  | 52 | &nbsp;&nbsp; 51666 |
| **Construction & Engineering — 0.1%** | **Construction & Engineering — 0.1%** | **Construction & Engineering — 0.1%** | **Construction & Engineering — 0.1%** |
| Brand Industrial Services, Inc., 10.38%, 08/01/30<sup>(b)</sup> |  | 126 | &nbsp;&nbsp; 125598 |
| Heathrow Finance PLC<sup>(c)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 3.88%, 03/01/27<sup>(j)</sup> | GBP | 126 | &nbsp;&nbsp; 165680 |
| &nbsp;&nbsp;&nbsp; 6.63%, 03/01/31 |  | 100 | &nbsp;&nbsp; 135134 |
| IRB Infrastructure Developers Ltd., 7.11%, 03/11/32<sup>(c)</sup> | USD | 400 | &nbsp;&nbsp; 414500 |
|  |  |  | &nbsp;&nbsp; 840912 |
| **Consumer Discretionary — 0.2%** | **Consumer Discretionary — 0.2%** | **Consumer Discretionary — 0.2%** | **Consumer Discretionary — 0.2%** |
| Amber Finco PLC, 6.63%, 07/15/29<sup>(c)</sup> | EUR | 265 | &nbsp;&nbsp; 327008 |
| APCOA Group GmbH, 6.00%, 04/15/31<sup>(c)</sup> |  | 255 | &nbsp;&nbsp; 303147 |
| Clarivate Science Holdings Corp.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 3.88%, 07/01/28 | USD | 12 | &nbsp;&nbsp; 11548 |
| &nbsp;&nbsp;&nbsp; 4.88%, 07/01/29 |  | 108 | &nbsp;&nbsp; 102063 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Consumer Discretionary (continued)** | **Consumer Discretionary (continued)** | **Consumer Discretionary (continued)** | **Consumer Discretionary (continued)** |
| Currenta Group Holdings SARL<sup>(c)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.50%, 05/15/30 | EUR | 100 | &nbsp;&nbsp; $120317 |
| &nbsp;&nbsp;&nbsp; (3-mo. EURIBOR + 4.00%), 6.04%, 05/15/32<sup>(a)</sup> |  | 100 | &nbsp;&nbsp; 118337 |
| Q-Park Holding I BV, 5.13%, 02/15/30<sup>(c)</sup> |  | 102 | &nbsp;&nbsp; 123692 |
| Raven Acquisition Holdings LLC, 6.88%, 11/15/31<sup>(b)</sup> | USD | 37 | &nbsp;&nbsp; 38024 |
| Williams Scotsman, Inc., 6.63%, 04/15/30<sup>(b)</sup> |  | 23 | &nbsp;&nbsp; 23673 |
|  |  |  | &nbsp;&nbsp; 1167809 |
| **Consumer Finance — 0.3%** | **Consumer Finance — 0.3%** | **Consumer Finance — 0.3%** | **Consumer Finance — 0.3%** |
| &nbsp;&nbsp;&nbsp; Bread Financial Holdings, Inc., (5-year CMT + 4.30%), <br> 8.38%, 06/15/35<sup>(a)(b)</sup><br>|  | 3 | &nbsp;&nbsp; 3081 |
| Muthoot Finance Ltd.<sup>(c)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 7.13%, 02/14/28 |  | 250 | &nbsp;&nbsp; 257735 |
| &nbsp;&nbsp;&nbsp; 6.38%, 03/02/30 |  | 825 | &nbsp;&nbsp; 835560 |
| Navient Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; 9.38%, 07/25/30 |  | 38 | &nbsp;&nbsp; 42000 |
| &nbsp;&nbsp;&nbsp; 7.88%, 06/15/32 |  | 22 | &nbsp;&nbsp; 23150 |
| OneMain Finance Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.63%, 05/15/29 |  | 21 | &nbsp;&nbsp; 21585 |
| &nbsp;&nbsp;&nbsp; 5.38%, 11/15/29 |  | 107 | &nbsp;&nbsp; 105787 |
| &nbsp;&nbsp;&nbsp; 7.50%, 05/15/31 |  | 8 | &nbsp;&nbsp; 8363 |
| &nbsp;&nbsp;&nbsp; 7.13%, 11/15/31 |  | 9 | &nbsp;&nbsp; 9333 |
| &nbsp;&nbsp;&nbsp; 6.75%, 03/15/32 |  | 27 | &nbsp;&nbsp; 27500 |
| &nbsp;&nbsp;&nbsp; 7.13%, 09/15/32 |  | 17 | &nbsp;&nbsp; 17562 |
| &nbsp;&nbsp;&nbsp; 6.50%, 03/15/33 |  | 32 | &nbsp;&nbsp; 32051 |
| Shift4 Payments LLC/Shift4 Payments Finance Sub, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.75%, 08/15/32<sup>(b)</sup> |  | 69 | &nbsp;&nbsp; 71338 |
| &nbsp;&nbsp;&nbsp; 5.50%, 05/15/33<sup>(c)</sup> | EUR | 100 | &nbsp;&nbsp; 122248 |
| WEX, Inc., 6.50%, 03/15/33<sup>(b)</sup> | USD | 24 | &nbsp;&nbsp; 24511 |
| Worldline SA<sup>(c)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 0.00%, 07/30/26<sup>(k)(l)</sup> | EUR | 12 | &nbsp;&nbsp; 13769 |
| &nbsp;&nbsp;&nbsp; 0.88%, 06/30/27 |  | 100 | &nbsp;&nbsp; 98887 |
|  |  |  | &nbsp;&nbsp; 1714460 |
| **Consumer Staples Distribution & Retail — 0.3%** | **Consumer Staples Distribution & Retail — 0.3%** | **Consumer Staples Distribution & Retail — 0.3%** | **Consumer Staples Distribution & Retail — 0.3%** |
| B&M European Value Retail SA, 6.50%, 11/27/31<sup>(c)</sup> | GBP | 200 | &nbsp;&nbsp; 272504 |
| Bellis Acquisition Co. PLC<sup>(c)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 8.13%, 05/14/30 |  | 113 | &nbsp;&nbsp; 145437 |
| &nbsp;&nbsp;&nbsp; 8.00%, 07/01/31 | EUR | 300 | &nbsp;&nbsp; 357454 |
| Boots Group Finco LP, 5.38%, 08/31/32<sup>(c)</sup> |  | 100 | &nbsp;&nbsp; 120781 |
| &nbsp;&nbsp;&nbsp; KeHE Distributors LLC/KeHE Finance Corp./NextWave <br> Distribution, Inc., 9.00%, 02/15/29<sup>(b)</sup><br>| USD | 9 | &nbsp;&nbsp; 9469 |
| &nbsp;&nbsp;&nbsp; Lion/Polaris Lux 4 SA, (3-mo. EURIBOR + 3.63%), <br> 5.64%, 07/01/29<sup>(a)(c)</sup><br>| EUR | 200 | &nbsp;&nbsp; 237424 |
| Market Bidco Finco PLC, 6.75%, 01/31/31<sup>(c)</sup> |  | 131 | &nbsp;&nbsp; 151875 |
| Ocado Group PLC, 11.00%, 06/15/30<sup>(c)</sup> | GBP | 113 | &nbsp;&nbsp; 152687 |
| United Natural Foods, Inc., 6.75%, 10/15/28<sup>(b)</sup> | USD | 18 | &nbsp;&nbsp; 17999 |
|  |  |  | &nbsp;&nbsp; 1465630 |
| **Containers & Packaging — 0.3%** | **Containers & Packaging — 0.3%** | **Containers & Packaging — 0.3%** | **Containers & Packaging — 0.3%** |
| &nbsp;&nbsp;&nbsp; Ardagh Metal Packaging Finance USA LLC/Ardagh Metal <br> Packaging Finance PLC, 4.00%, 09/01/29<sup>(b)</sup><br>|  | 200 | &nbsp;&nbsp; 185103 |
| &nbsp;&nbsp;&nbsp; Ardagh Packaging Finance PLC/Ardagh Holdings USA, <br> Inc., 2.13%, 08/15/26<sup>(c)</sup><br>| EUR | 242 | &nbsp;&nbsp; 277151 |
| Clydesdale Acquisition Holdings, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.63%, 04/15/29 |  | 23 | &nbsp;&nbsp; 23262 |
| &nbsp;&nbsp;&nbsp; 6.88%, 01/15/30 |  | 58 | &nbsp;&nbsp; 59497 |
| &nbsp;&nbsp;&nbsp; 8.75%, 04/15/30 |  | 59 | &nbsp;&nbsp; 60607 |
| &nbsp;&nbsp;&nbsp; 6.75%, 04/15/32 |  | 76 | &nbsp;&nbsp; 77965 |
| Fedrigoni SpA, 6.13%, 06/15/31<sup>(c)</sup> | EUR | 100 | &nbsp;&nbsp; 116702 |
| Fiber Midco SpA, (10.75% PIK), 10.75%, 06/15/29<sup>(c)(h)</sup> |  | 100 | &nbsp;&nbsp; 108533 |
| Kleopatra Finco SARL, 4.25%, 03/01/26<sup>(c)</sup> |  | 100 | &nbsp;&nbsp; 66089 |
| LABL, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.88%, 11/01/28 | USD | 34 | &nbsp;&nbsp; 26343 |

---

Consolidated Schedule of Investments

------

Consolidated Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Credit Strategies Fund**

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

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Containers & Packaging (continued)** | **Containers & Packaging (continued)** | **Containers & Packaging (continued)** | **Containers & Packaging (continued)** |
| LABL, Inc.<sup>(b)</sup> (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp; 9.50%, 11/01/28 | USD | 96 | &nbsp;&nbsp; $81556 |
| &nbsp;&nbsp;&nbsp; 8.63%, 10/01/31 |  | 20 | &nbsp;&nbsp; 14693 |
| Magnera Corp., 7.25%, 11/15/31<sup>(b)</sup> |  | 10 | &nbsp;&nbsp; 9410 |
| Mauser Packaging Solutions Holding Co.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 7.88%, 04/15/27 |  | 299 | &nbsp;&nbsp; 301931 |
| &nbsp;&nbsp;&nbsp; 9.25%, 04/15/27 |  | 20 | &nbsp;&nbsp; 20046 |
| OI European Group BV, 5.25%, 06/01/29<sup>(c)</sup> | EUR | 108 | &nbsp;&nbsp; 130514 |
| Sappi Papier Holding GmbH, 4.50%, 03/15/32<sup>(c)</sup> |  | 305 | &nbsp;&nbsp; 353236 |
| Sealed Air Corp., 4.00%, 12/01/27<sup>(b)</sup> | USD | 5 | &nbsp;&nbsp; 4907 |
|  |  |  | &nbsp;&nbsp; 1917545 |
| **Distributors — 0.0%** | **Distributors — 0.0%** | **Distributors — 0.0%** | **Distributors — 0.0%** |
| Gates Corp./DE, 6.88%, 07/01/29<sup>(b)</sup> |  | 22 | &nbsp;&nbsp; 22828 |
| **Diversified REITs — 0.1%** | **Diversified REITs — 0.1%** | **Diversified REITs — 0.1%** | **Diversified REITs — 0.1%** |
| Digital Realty Trust LP, 1.88%, 11/15/29<sup>(b)(k)</sup> |  | 6 | &nbsp;&nbsp; 6300 |
| &nbsp;&nbsp;&nbsp; Iron Mountain Information Management Services, Inc., <br> 5.00%, 07/15/32<sup>(b)</sup><br>|  | 63 | &nbsp;&nbsp; 60703 |
| Iron Mountain, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.25%, 01/15/33<sup>(b)</sup> |  | 16 | &nbsp;&nbsp; 16320 |
| &nbsp;&nbsp;&nbsp; 4.75%, 01/15/34<sup>(c)</sup> | EUR | 123 | &nbsp;&nbsp; 144727 |
| Millrose Properties, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.38%, 08/01/30 | USD | 41 | &nbsp;&nbsp; 41697 |
| &nbsp;&nbsp;&nbsp; 6.25%, 09/15/32 |  | 21 | &nbsp;&nbsp; 21055 |
| &nbsp;&nbsp;&nbsp; Uniti Group LP/Uniti Group Finance 2019, Inc./CSL <br> Capital LLC, 10.50%, 02/15/28<sup>(b)</sup><br>|  | 137 | &nbsp;&nbsp; 144288 |
|  |  |  | &nbsp;&nbsp; 435090 |
| **Diversified Telecommunication Services — 0.7%** | **Diversified Telecommunication Services — 0.7%** | **Diversified Telecommunication Services — 0.7%** | **Diversified Telecommunication Services — 0.7%** |
| Altice Financing SA, 3.00%, 01/15/28<sup>(c)</sup> | EUR | 100 | &nbsp;&nbsp; 90501 |
| EchoStar Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; (6.75% PIK), 6.75%, 11/30/30<sup>(h)</sup> | USD | 135 | &nbsp;&nbsp; 139440 |
| &nbsp;&nbsp;&nbsp; 10.75%, 11/30/29 |  | 130 | &nbsp;&nbsp; 143062 |
| eircom Finance DAC, 5.00%, 04/30/31<sup>(c)</sup> | EUR | 200 | &nbsp;&nbsp; 240510 |
| Eutelsat SA, 9.75%, 04/13/29<sup>(c)</sup> |  | 153 | &nbsp;&nbsp; 193933 |
| Fibercop SpA<sup>(c)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 4.75%, 06/30/30 |  | 128 | &nbsp;&nbsp; 152644 |
| &nbsp;&nbsp;&nbsp; 5.13%, 06/30/32 |  | 100 | &nbsp;&nbsp; 119332 |
| Frontier Communications Holdings LLC |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 05/01/28<sup>(b)</sup> | USD | 49 | &nbsp;&nbsp; 48890 |
| &nbsp;&nbsp;&nbsp; 6.75%, 05/01/29<sup>(b)</sup> |  | 8 | &nbsp;&nbsp; 8080 |
| &nbsp;&nbsp;&nbsp; 5.88%, 11/01/29 |  | 10 | &nbsp;&nbsp; 10526 |
| &nbsp;&nbsp;&nbsp; 6.00%, 01/15/30<sup>(b)</sup> |  | 15 | &nbsp;&nbsp; 15176 |
| &nbsp;&nbsp;&nbsp; 8.75%, 05/15/30<sup>(b)</sup> |  | 151 | &nbsp;&nbsp; 157741 |
| &nbsp;&nbsp;&nbsp; 8.63%, 03/15/31<sup>(b)</sup> |  | 12 | &nbsp;&nbsp; 12651 |
| Kaixo Bondco Telecom SA, 5.13%, 09/30/29<sup>(c)</sup> | EUR | 150 | &nbsp;&nbsp; 178254 |
| Level 3 Financing, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 3.63%, 01/15/29 | USD | 3 | &nbsp;&nbsp; 2596 |
| &nbsp;&nbsp;&nbsp; 4.88%, 06/15/29 |  | 77 | &nbsp;&nbsp; 72388 |
| &nbsp;&nbsp;&nbsp; 4.50%, 04/01/30 |  | 31 | &nbsp;&nbsp; 28171 |
| &nbsp;&nbsp;&nbsp; 3.88%, 10/15/30 |  | 7 | &nbsp;&nbsp; 5675 |
| &nbsp;&nbsp;&nbsp; 4.00%, 04/15/31 |  | 3 | &nbsp;&nbsp; 2926 |
| &nbsp;&nbsp;&nbsp; 6.88%, 06/30/33 |  | 145 | &nbsp;&nbsp; 147611 |
| &nbsp;&nbsp;&nbsp; 7.00%, 03/31/34 |  | 184 | &nbsp;&nbsp; 187185 |
| Lorca Telecom Bondco SA, 5.75%, 04/30/29<sup>(c)</sup> | EUR | 294 | &nbsp;&nbsp; 359224 |
| Lumen Technologies, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 4.13%, 04/15/29 | USD | 19 | &nbsp;&nbsp; 19087 |
| &nbsp;&nbsp;&nbsp; 4.13%, 04/15/30 |  | 20 | &nbsp;&nbsp; 19080 |
| &nbsp;&nbsp;&nbsp; 10.00%, 10/15/32 |  | 15 | &nbsp;&nbsp; 15468 |
| Maya SAS/Paris France |  |  |  |
| &nbsp;&nbsp;&nbsp; 7.00%, 10/15/28<sup>(b)</sup> |  | 289 | &nbsp;&nbsp; 293633 |
| &nbsp;&nbsp;&nbsp; 5.38%, 04/15/30<sup>(c)</sup> | EUR | 126 | &nbsp;&nbsp; 151090 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Diversified Telecommunication Services (continued)** | **Diversified Telecommunication Services (continued)** | **Diversified Telecommunication Services (continued)** | **Diversified Telecommunication Services (continued)** |
| Maya SAS/Paris France (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.88%, 04/15/31<sup>(c)</sup> | EUR | 100 | &nbsp;&nbsp; $124710 |
| SoftBank Group Corp.<sup>(c)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.38%, 01/08/29 |  | 175 | &nbsp;&nbsp; 212835 |
| &nbsp;&nbsp;&nbsp; 3.38%, 07/06/29 |  | 202 | &nbsp;&nbsp; 230566 |
| &nbsp;&nbsp;&nbsp; 5.25%, 10/10/29 |  | 100 | &nbsp;&nbsp; 121057 |
| &nbsp;&nbsp;&nbsp; 5.88%, 07/10/31 |  | 100 | &nbsp;&nbsp; 123682 |
| &nbsp;&nbsp;&nbsp; 5.75%, 07/08/32 |  | 151 | &nbsp;&nbsp; 185241 |
| &nbsp;&nbsp;&nbsp; 6.38%, 07/10/33 |  | 100 | &nbsp;&nbsp; 124834 |
| &nbsp;&nbsp;&nbsp; TalkTalk Telecom Group Ltd., (8.25% PIK), 8.25%, <br> 09/01/27<sup>(c)(h)</sup><br>| GBP | 33 | &nbsp;&nbsp; 32807 |
| Telecom Italia Capital SA, 7.72%, 06/04/38 | USD | 77 | &nbsp;&nbsp; 85300 |
| Windstream Services LLC, 10/15/33<sup>(b)(g)</sup> |  | 27 | &nbsp;&nbsp; 26993 |
| &nbsp;&nbsp;&nbsp; Windstream Services LLC/Windstream Escrow Finance <br> Corp., 8.25%, 10/01/31<sup>(b)</sup><br>|  | 109 | &nbsp;&nbsp; 112911 |
| Zayo Group Holdings, Inc.<sup>(b)(g)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 03/09/30 |  | 113 | &nbsp;&nbsp; 107949 |
| &nbsp;&nbsp;&nbsp; 09/09/30 |  | 28 | &nbsp;&nbsp; 26244 |
|  |  |  | &nbsp;&nbsp; 4330003 |
| **Electric Utilities — 0.3%** | **Electric Utilities — 0.3%** | **Electric Utilities — 0.3%** | **Electric Utilities — 0.3%** |
| Adani Transmission Step-One Ltd., 4.00%, 08/03/26<sup>(c)</sup> |  | 200 | &nbsp;&nbsp; 198000 |
| Alpha Generation LLC, 6.75%, 10/15/32<sup>(b)</sup> |  | 21 | &nbsp;&nbsp; 21678 |
| &nbsp;&nbsp;&nbsp; California Buyer Ltd./Atlantica Sustainable Infrastructure <br> PLC, 5.63%, 02/15/32<sup>(c)</sup><br>| EUR | 182 | &nbsp;&nbsp; 222374 |
| Continuum Energy Aura Pte. Ltd., 9.50%, 02/24/27<sup>(c)</sup> | USD | 200 | &nbsp;&nbsp; 206188 |
| ContourGlobal Power Holdings SA, 5.00%, 02/28/30<sup>(c)</sup> | EUR | 200 | &nbsp;&nbsp; 240360 |
| &nbsp;&nbsp;&nbsp; Edison International, Series A, (5-year CMT + 4.70%), <br> 5.38%<sup>(a)(i)</sup><br>| USD | 17 | &nbsp;&nbsp; 16505 |
| JSW Hydro Energy Ltd., 4.13%, 05/18/31<sup>(c)</sup> |  | 142 | &nbsp;&nbsp; 134545 |
| Mong Duong Finance Holdings BV, 5.13%, 05/07/29<sup>(c)</sup> |  | 339 | &nbsp;&nbsp; 334988 |
| &nbsp;&nbsp;&nbsp; Orsted A/S, (5-year EURIBOR ICE Swap + 2.59%), <br> 5.13%, 12/31/99<sup>(a)(c)</sup><br>| EUR | 100 | &nbsp;&nbsp; 120426 |
| Pike Corp., 8.63%, 01/31/31<sup>(b)</sup> | USD | 5 | &nbsp;&nbsp; 5364 |
| &nbsp;&nbsp;&nbsp; Star Energy Geothermal Wayang Windu Ltd., 6.75%, <br> 04/24/33<sup>(c)</sup><br>|  | 137 | &nbsp;&nbsp; 141435 |
| Vistra Operations Co. LLC, 6.88%, 04/15/32<sup>(b)</sup> |  | 24 | &nbsp;&nbsp; 25101 |
| &nbsp;&nbsp;&nbsp; XPLR Infrastructure Operating Partners LP, 8.38%, <br> 01/15/31<sup>(b)</sup><br>|  | 47 | &nbsp;&nbsp; 49256 |
|  |  |  | &nbsp;&nbsp; 1716220 |
| **Electronic Equipment, Instruments & Components — 0.0%** | **Electronic Equipment, Instruments & Components — 0.0%** | **Electronic Equipment, Instruments & Components — 0.0%** | **Electronic Equipment, Instruments & Components — 0.0%** |
| WESCO Distribution, Inc., 6.38%, 03/15/33<sup>(b)</sup> |  | 8 | &nbsp;&nbsp; 8293 |
| **Energy Equipment & Services — 0.1%** | **Energy Equipment & Services — 0.1%** | **Energy Equipment & Services — 0.1%** | **Energy Equipment & Services — 0.1%** |
| Archrock Partners LP/Archrock Partners Finance Corp.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.25%, 04/01/28 |  | 119 | &nbsp;&nbsp; 119165 |
| &nbsp;&nbsp;&nbsp; 6.63%, 09/01/32 |  | 35 | &nbsp;&nbsp; 35902 |
| Enerflex Ltd., 9.00%, 10/15/27<sup>(b)</sup> |  | 36 | &nbsp;&nbsp; 36654 |
| Kodiak Gas Services LLC<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 7.25%, 02/15/29 |  | 33 | &nbsp;&nbsp; 34243 |
| &nbsp;&nbsp;&nbsp; 6.50%, 10/01/33 |  | 18 | &nbsp;&nbsp; 18327 |
| &nbsp;&nbsp;&nbsp; 6.75%, 10/01/35 |  | 18 | &nbsp;&nbsp; 18482 |
| OEG Finance PLC, 7.25%, 09/27/29<sup>(c)</sup> | EUR | 216 | &nbsp;&nbsp; 265052 |
| Star Holding LLC, 8.75%, 08/01/31<sup>(b)</sup> | USD | 19 | &nbsp;&nbsp; 18852 |
| Tidewater, Inc., 9.13%, 07/15/30<sup>(b)</sup> |  | 16 | &nbsp;&nbsp; 17159 |
| &nbsp;&nbsp;&nbsp; USA Compression Partners LP/USA Compression <br> Finance Corp.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 7.13%, 03/15/29 |  | 77 | &nbsp;&nbsp; 79412 |
| &nbsp;&nbsp;&nbsp; 6.25%, 10/01/33 |  | 42 | &nbsp;&nbsp; 42161 |

---

------

Consolidated Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Credit Strategies Fund**

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

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Energy Equipment & Services (continued)** | **Energy Equipment & Services (continued)** | **Energy Equipment & Services (continued)** | **Energy Equipment & Services (continued)** |
| Weatherford International Ltd.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 8.63%, 04/30/30 | USD | 18 | &nbsp;&nbsp; $18401 |
| &nbsp;&nbsp;&nbsp; 10/15/33<sup>(g)</sup> |  | 38 | &nbsp;&nbsp; 38026 |
|  |  |  | &nbsp;&nbsp; 741836 |
| **Entertainment — 0.2%** | **Entertainment — 0.2%** | **Entertainment — 0.2%** | **Entertainment — 0.2%** |
| &nbsp;&nbsp;&nbsp; Allwyn Entertainment Financing U.K. PLC, 7.25%, <br> 04/30/30<sup>(c)</sup><br>| EUR | 450 | &nbsp;&nbsp; 554079 |
| Flutter Treasury DAC<sup>(c)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 4.00%, 06/04/31 |  | 128 | &nbsp;&nbsp; 150594 |
| &nbsp;&nbsp;&nbsp; 6.13%, 06/04/31 | GBP | 100 | &nbsp;&nbsp; 135539 |
| Lottomatica Group SpA<sup>(c)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.38%, 06/01/30 | EUR | 100 | &nbsp;&nbsp; 121660 |
| &nbsp;&nbsp;&nbsp; 4.88%, 01/31/31 |  | 107 | &nbsp;&nbsp; 129441 |
| &nbsp;&nbsp;&nbsp; (3-mo. EURIBOR + 3.25%), 5.30%, 06/01/31<sup>(a)</sup> |  | 100 | &nbsp;&nbsp; 118104 |
| &nbsp;&nbsp;&nbsp; Scientific Games Holdings LP/Scientific Games <br> U.S. FinCo, Inc., 6.63%, 03/01/30<sup>(b)</sup><br>| USD | 34 | &nbsp;&nbsp; 31610 |
|  |  |  | &nbsp;&nbsp; 1241027 |
| **Environmental, Maintenance & Security Service — 0.1%** | **Environmental, Maintenance & Security Service — 0.1%** | **Environmental, Maintenance & Security Service — 0.1%** | **Environmental, Maintenance & Security Service — 0.1%** |
| Luna 1.5 SARL, (10.50% PIK), 10.50%, 07/01/32<sup>(c)(h)</sup> | EUR | 124 | &nbsp;&nbsp; 150863 |
| Madison IAQ LLC, 5.88%, 06/30/29<sup>(b)</sup> | USD | 61 | &nbsp;&nbsp; 60262 |
| Waste Pro USA, Inc., 7.00%, 02/01/33<sup>(b)</sup> |  | 70 | &nbsp;&nbsp; 72506 |
|  |  |  | &nbsp;&nbsp; 283631 |
| **Financial Services — 0.6%** | **Financial Services — 0.6%** | **Financial Services — 0.6%** | **Financial Services — 0.6%** |
| Azorra Finance Ltd.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 7.75%, 04/15/30 |  | 12 | &nbsp;&nbsp; 12585 |
| &nbsp;&nbsp;&nbsp; 7.25%, 01/15/31 |  | 7 | &nbsp;&nbsp; 7289 |
| Bracken MidCo1 PLC, (6.75% PIK), 6.75%, 11/01/27<sup>(c)(h)</sup> | GBP | 100 | &nbsp;&nbsp; 133963 |
| &nbsp;&nbsp;&nbsp; CrossCountry Intermediate HoldCo LLC, 6.50%, <br> 10/01/30<sup>(b)</sup><br>| USD | 19 | &nbsp;&nbsp; 19070 |
| &nbsp;&nbsp;&nbsp; Deutsche Bank AG, (5-year EURIBOR ICE Swap + <br> 5.26%), 8.13%<sup>(a)(c)(i)</sup><br>| EUR | 200 | &nbsp;&nbsp; 256434 |
| &nbsp;&nbsp;&nbsp; Encore Issuances SA, Series 155, (3-mo. EURIBOR + <br> 10.00%), 12.05%, 11/06/25<sup>(a)</sup><br>|  | 12 | &nbsp;&nbsp; 13552 |
| Far East Horizon Ltd., 5.88%, 03/05/28<sup>(c)</sup> | USD | 200 | &nbsp;&nbsp; 202688 |
| Freedom Mortgage Holdings LLC<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 9.25%, 02/01/29 |  | 26 | &nbsp;&nbsp; 27357 |
| &nbsp;&nbsp;&nbsp; 9.13%, 05/15/31 |  | 20 | &nbsp;&nbsp; 21271 |
| &nbsp;&nbsp;&nbsp; 8.38%, 04/01/32 |  | 10 | &nbsp;&nbsp; 10482 |
| Garfunkelux Holdco 3 SA, 9.00%, 09/01/28<sup>(c)</sup> | EUR | 111 | &nbsp;&nbsp; 132484 |
| Global Aircraft Leasing Co. Ltd., 8.75%, 09/01/27<sup>(b)</sup> | USD | 28 | &nbsp;&nbsp; 28871 |
| Intrum Investments And Financing AB |  |  |  |
| &nbsp;&nbsp;&nbsp; 7.75%, 09/11/27 | EUR | 49 | &nbsp;&nbsp; 53340 |
| &nbsp;&nbsp;&nbsp; 8.00%, 09/11/27<sup>(c)</sup> |  | 101 | &nbsp;&nbsp; 120990 |
| &nbsp;&nbsp;&nbsp; 8.50%, 09/11/29 |  | 62 | &nbsp;&nbsp; 63284 |
| &nbsp;&nbsp;&nbsp; Series 1, 7.75%, 09/11/28<sup>(b)(c)</sup> |  | 135 | &nbsp;&nbsp; 140361 |
| Manappuram Finance Ltd., 7.38%, 05/12/28<sup>(c)</sup> | USD | 200 | &nbsp;&nbsp; 204500 |
| Muangthai Capital PCL, 7.55%, 07/21/30<sup>(c)</sup> |  | 475 | &nbsp;&nbsp; 492361 |
| Nationstar Mortgage Holdings, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.50%, 08/01/29 |  | 7 | &nbsp;&nbsp; 7181 |
| &nbsp;&nbsp;&nbsp; 7.13%, 02/01/32 |  | 42 | &nbsp;&nbsp; 43840 |
| PennyMac Financial Services, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 7.13%, 11/15/30 |  | 12 | &nbsp;&nbsp; 12495 |
| &nbsp;&nbsp;&nbsp; 6.88%, 05/15/32 |  | 22 | &nbsp;&nbsp; 22796 |
| &nbsp;&nbsp;&nbsp; 6.75%, 02/15/34 |  | 22 | &nbsp;&nbsp; 22442 |
| Phoenix Aviation Capital Ltd., 9.25%, 07/15/30<sup>(b)</sup> |  | 26 | &nbsp;&nbsp; 27662 |
| &nbsp;&nbsp;&nbsp; Piramal Capital & Housing Finance Ltd., 7.80%, <br> 01/29/28<sup>(c)</sup><br>|  | 200 | &nbsp;&nbsp; 205000 |
| PRA Group Europe Holding II SARL, 6.25%, 09/30/32<sup>(c)</sup> | EUR | 195 | &nbsp;&nbsp; 225563 |
| Progroup AG, 5.38%, 04/15/31<sup>(c)</sup> |  | 100 | &nbsp;&nbsp; 118546 |
| ProGroup AG, 5.13%, 04/15/29<sup>(c)</sup> |  | 100 | &nbsp;&nbsp; 119500 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Financial Services (continued)** | **Financial Services (continued)** | **Financial Services (continued)** | **Financial Services (continued)** |
| Rocket Cos., Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.13%, 08/01/30 | USD | 76 | &nbsp;&nbsp; $78000 |
| &nbsp;&nbsp;&nbsp; 6.38%, 08/01/33 |  | 74 | &nbsp;&nbsp; 76376 |
| Shriram Finance Ltd., 6.63%, 04/22/27<sup>(c)</sup> |  | 200 | &nbsp;&nbsp; 204250 |
| Stena International SA, 7.25%, 01/15/31<sup>(b)</sup> |  | 200 | &nbsp;&nbsp; 203904 |
| &nbsp;&nbsp;&nbsp; Titanium 2l Bondco SARL, (6.25% PIK), 6.25%, <br> 01/14/31<sup>(h)</sup><br>| EUR | 108 | &nbsp;&nbsp; 32732 |
| UWM Holdings LLC<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.63%, 02/01/30 | USD | 27 | &nbsp;&nbsp; 27467 |
| &nbsp;&nbsp;&nbsp; 6.25%, 03/15/31 |  | 14 | &nbsp;&nbsp; 13933 |
|  |  |  | &nbsp;&nbsp; 3382569 |
| **Food Products — 0.2%** | **Food Products — 0.2%** | **Food Products — 0.2%** | **Food Products — 0.2%** |
| B&G Foods, Inc., 8.00%, 09/15/28<sup>(b)</sup> |  | 7 | &nbsp;&nbsp; 6782 |
| &nbsp;&nbsp;&nbsp; Chobani Holdco II LLC, (8.75% in Cash or 9.5% in PIK), <br> 8.75%, 10/01/29<sup>(b)(h)</sup><br>|  | 104 | &nbsp;&nbsp; 110420 |
| &nbsp;&nbsp;&nbsp; Chobani LLC/Chobani Finance Corp., Inc., 7.63%, <br> 07/01/29<sup>(b)</sup><br>|  | 149 | &nbsp;&nbsp; 155369 |
| Darling Global Finance BV, 4.50%, 07/15/32<sup>(c)</sup> | EUR | 124 | &nbsp;&nbsp; 146984 |
| Elior Group SA, 5.63%, 03/15/30<sup>(c)</sup> |  | 110 | &nbsp;&nbsp; 132326 |
| Fiesta Purchaser, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 7.88%, 03/01/31 | USD | 7 | &nbsp;&nbsp; 7387 |
| &nbsp;&nbsp;&nbsp; 9.63%, 09/15/32 |  | 6 | &nbsp;&nbsp; 6478 |
| Froneri Lux FinCo SARL, 4.75%, 08/01/32<sup>(c)</sup> | EUR | 100 | &nbsp;&nbsp; 118439 |
| &nbsp;&nbsp;&nbsp; Irca SpA/Gallarate, (3-mo. EURIBOR + 3.75%), 5.76%, <br> 12/15/29<sup>(a)(c)</sup><br>|  | 100 | &nbsp;&nbsp; 118251 |
| Tereos Finance Groupe I SA, 7.25%, 04/15/28<sup>(c)</sup> |  | 300 | &nbsp;&nbsp; 362398 |
|  |  |  | &nbsp;&nbsp; 1164834 |
| **Ground Transportation**<sup>(b)</sup> **— 0.0%** | **Ground Transportation**<sup>(b)</sup> **— 0.0%** | **Ground Transportation**<sup>(b)</sup> **— 0.0%** | **Ground Transportation**<sup>(b)</sup> **— 0.0%** |
| Brightline East LLC, 11.00%, 01/31/30 | USD | 300 | &nbsp;&nbsp; 123000 |
| Watco Cos. LLC/Watco Finance Corp., 7.13%, 08/01/32 |  | 6 | &nbsp;&nbsp; 6210 |
|  |  |  | &nbsp;&nbsp; 129210 |
| **Health Care Equipment & Supplies — 0.0%** | **Health Care Equipment & Supplies — 0.0%** | **Health Care Equipment & Supplies — 0.0%** | **Health Care Equipment & Supplies — 0.0%** |
| Bausch & Lomb Corp., 8.38%, 10/01/28<sup>(b)</sup> |  | 126 | &nbsp;&nbsp; 131316 |
| &nbsp;&nbsp;&nbsp; Bausch & Lomb Netherlands BV & Bausch & Lomb, Inc., <br> (3-mo. EURIBOR + 3.88%), 5.87%, 01/15/31<sup>(a)(c)</sup><br>| EUR | 100 | &nbsp;&nbsp; 118955 |
|  |  |  | &nbsp;&nbsp; 250271 |
| **Health Care Providers & Services — 0.3%** | **Health Care Providers & Services — 0.3%** | **Health Care Providers & Services — 0.3%** | **Health Care Providers & Services — 0.3%** |
| Acadia Healthcare Co., Inc., 7.38%, 03/15/33<sup>(b)</sup> | USD | 8 | &nbsp;&nbsp; 8306 |
| AHP Health Partners, Inc., 5.75%, 07/15/29<sup>(b)</sup> |  | 63 | &nbsp;&nbsp; 62001 |
| CHS/Community Health Systems, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.00%, 01/15/29 |  | 4 | &nbsp;&nbsp; 3883 |
| &nbsp;&nbsp;&nbsp; 5.25%, 05/15/30 |  | 176 | &nbsp;&nbsp; 159217 |
| &nbsp;&nbsp;&nbsp; 4.75%, 02/15/31 |  | 17 | &nbsp;&nbsp; 14701 |
| &nbsp;&nbsp;&nbsp; 10.88%, 01/15/32 |  | 36 | &nbsp;&nbsp; 38127 |
| &nbsp;&nbsp;&nbsp; 9.75%, 01/15/34 |  | 65 | &nbsp;&nbsp; 66593 |
| Clariane SE, 7.88%, 06/27/30<sup>(c)</sup> | EUR | 100 | &nbsp;&nbsp; 120625 |
| DaVita, Inc., 6.75%, 07/15/33<sup>(b)</sup> | USD | 13 | &nbsp;&nbsp; 13406 |
| Ephios Subco 3 SARL, 7.88%, 01/31/31<sup>(c)</sup> | EUR | 134 | &nbsp;&nbsp; 167481 |
| HAH Group Holding Co. LLC, 9.75%, 10/01/31<sup>(b)</sup> | USD | 12 | &nbsp;&nbsp; 11401 |
| LifePoint Health, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 9.88%, 08/15/30 |  | 27 | &nbsp;&nbsp; 29239 |
| &nbsp;&nbsp;&nbsp; 11.00%, 10/15/30 |  | 94 | &nbsp;&nbsp; 103603 |
| &nbsp;&nbsp;&nbsp; 8.38%, 02/15/32 |  | 23 | &nbsp;&nbsp; 24511 |
| &nbsp;&nbsp;&nbsp; 10.00%, 06/01/32 |  | 18 | &nbsp;&nbsp; 18899 |
| Medline Borrower LP, 5.25%, 10/01/29<sup>(b)</sup> |  | 285 | &nbsp;&nbsp; 282536 |
| &nbsp;&nbsp;&nbsp; Medline Borrower LP/Medline Co-Issuer, Inc., 6.25%, <br> 04/01/29<sup>(b)</sup><br>|  | 3 | &nbsp;&nbsp; 3076 |
| Mehilainen Yhtiot OYJ, 5.13%, 06/30/32<sup>(c)</sup> | EUR | 100 | &nbsp;&nbsp; 119895 |
| Prime Healthcare Services, Inc., 9.38%, 09/01/29<sup>(b)</sup> | USD | 6 | &nbsp;&nbsp; 6240 |
| Star Parent, Inc., 9.00%, 10/01/30<sup>(b)</sup> |  | 90 | &nbsp;&nbsp; 95147 |

---

Consolidated Schedule of Investments

------

Consolidated Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Credit Strategies Fund**

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

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Health Care Providers & Services (continued)** | **Health Care Providers & Services (continued)** | **Health Care Providers & Services (continued)** | **Health Care Providers & Services (continued)** |
| Surgery Center Holdings, Inc., 7.25%, 04/15/32<sup>(b)</sup> | USD | 116 | &nbsp;&nbsp; $119161 |
| U.S. Acute Care Solutions LLC, 9.75%, 05/15/29<sup>(b)</sup> |  | 40 | &nbsp;&nbsp; 40959 |
|  |  |  | &nbsp;&nbsp; 1509007 |
| **Health Care REITs — 1.6%** | **Health Care REITs — 1.6%** | **Health Care REITs — 1.6%** | **Health Care REITs — 1.6%** |
| Diversified Healthcare Trust |  |  |  |
| &nbsp;&nbsp;&nbsp; 0.00%, 01/15/26<sup>(b)(l)</sup> |  | 1431 | &nbsp;&nbsp; 1415282 |
| &nbsp;&nbsp;&nbsp; 4.75%, 02/15/28 |  | 8287 | &nbsp;&nbsp; 7900381 |
| &nbsp;&nbsp;&nbsp; 7.25%, 10/15/30<sup>(b)</sup> |  | 10 | &nbsp;&nbsp; 10163 |
| MPT Operating Partnership LP/MPT Finance Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; 7.00%, 02/15/32<sup>(c)</sup> | EUR | 123 | &nbsp;&nbsp; 150896 |
| &nbsp;&nbsp;&nbsp; 8.50%, 02/15/32<sup>(b)</sup> | USD | 73 | &nbsp;&nbsp; 77567 |
|  |  |  | &nbsp;&nbsp; 9554289 |
| **Hotel & Resort REITs — 0.0%** | **Hotel & Resort REITs — 0.0%** | **Hotel & Resort REITs — 0.0%** | **Hotel & Resort REITs — 0.0%** |
| &nbsp;&nbsp;&nbsp; Park Intermediate Holdings LLC/PK Domestic Property <br> LLC/PK Finance Co-Issuer, 7.00%, 02/01/30<sup>(b)</sup><br>|  | 27 | &nbsp;&nbsp; 27834 |
| &nbsp;&nbsp;&nbsp; RHP Hotel Properties LP/RHP Finance Corp., 6.50%, <br> 06/15/33<sup>(b)</sup><br>|  | 21 | &nbsp;&nbsp; 21628 |
| Service Properties Trust |  |  |  |
| &nbsp;&nbsp;&nbsp; 0.00%, 09/30/27<sup>(b)(l)</sup> |  | 20 | &nbsp;&nbsp; 17630 |
| &nbsp;&nbsp;&nbsp; 8.63%, 11/15/31<sup>(b)</sup> |  | 153 | &nbsp;&nbsp; 162898 |
| &nbsp;&nbsp;&nbsp; 8.88%, 06/15/32 |  | 24 | &nbsp;&nbsp; 24135 |
|  |  |  | &nbsp;&nbsp; 254125 |
| **Hotels, Restaurants & Leisure — 0.7%** | **Hotels, Restaurants & Leisure — 0.7%** | **Hotels, Restaurants & Leisure — 0.7%** | **Hotels, Restaurants & Leisure — 0.7%** |
| &nbsp;&nbsp;&nbsp; Bertrand Franchise Finance SAS, (3-mo. EURIBOR + <br> 3.75%), 5.99%, 07/18/30<sup>(a)(c)</sup><br>| EUR | 100 | &nbsp;&nbsp; 112255 |
| Caesars Entertainment, Inc., 7.00%, 02/15/30<sup>(b)</sup> | USD | 79 | &nbsp;&nbsp; 81260 |
| Carnival Corp., 6.13%, 02/15/33<sup>(b)</sup> |  | 53 | &nbsp;&nbsp; 54327 |
| CPUK Finance Ltd., 4.50%, 08/28/27<sup>(c)</sup> | GBP | 116 | &nbsp;&nbsp; 152889 |
| Essendi SA<sup>(c)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.50%, 11/15/31 | EUR | 101 | &nbsp;&nbsp; 122105 |
| &nbsp;&nbsp;&nbsp; 5.63%, 05/15/32 |  | 154 | &nbsp;&nbsp; 186424 |
| &nbsp;&nbsp;&nbsp; Fertitta Entertainment LLC/Fertitta Entertainment <br> Finance Co., Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 4.63%, 01/15/29 | USD | 42 | &nbsp;&nbsp; 39973 |
| &nbsp;&nbsp;&nbsp; 6.75%, 01/15/30 |  | 6 | &nbsp;&nbsp; 5631 |
| Food Service Project SA, 5.50%, 01/21/27<sup>(c)</sup> | EUR | 200 | &nbsp;&nbsp; 235484 |
| Fortune Star BVI Ltd.<sup>(c)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 3.95%, 10/02/26 |  | 200 | &nbsp;&nbsp; 232340 |
| &nbsp;&nbsp;&nbsp; 6.80%, 09/09/29 | USD | 200 | &nbsp;&nbsp; 200200 |
| &nbsp;&nbsp;&nbsp; Great Canadian Gaming Corp./Raptor LLC, 8.75%, <br> 11/15/29<sup>(b)</sup><br>|  | 28 | &nbsp;&nbsp; 27687 |
| Light & Wonder International, Inc., 6.25%, 10/01/33<sup>(b)</sup> |  | 18 | &nbsp;&nbsp; 18031 |
| Lindblad Expeditions LLC, 7.00%, 09/15/30<sup>(b)</sup> |  | 24 | &nbsp;&nbsp; 24463 |
| MajorDrive Holdings IV LLC, 6.38%, 06/01/29<sup>(b)</sup> |  | 45 | &nbsp;&nbsp; 36876 |
| Melco Resorts Finance Ltd.<sup>(c)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.75%, 07/21/28 |  | 200 | &nbsp;&nbsp; 199900 |
| &nbsp;&nbsp;&nbsp; 7.63%, 04/17/32 |  | 200 | &nbsp;&nbsp; 209500 |
| &nbsp;&nbsp;&nbsp; Mohegan Tribal Gaming Authority/MS Digital <br> Entertainment Holdings LLC, 8.25%, 04/15/30<sup>(b)</sup><br>|  | 15 | &nbsp;&nbsp; 15586 |
| Motion Finco SARL, 7.38%, 06/15/30<sup>(c)</sup> | EUR | 200 | &nbsp;&nbsp; 211525 |
| NCL Corp. Ltd.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.88%, 01/15/31 | USD | 35 | &nbsp;&nbsp; 34999 |
| &nbsp;&nbsp;&nbsp; 6.75%, 02/01/32 |  | 15 | &nbsp;&nbsp; 15426 |
| &nbsp;&nbsp;&nbsp; 6.25%, 09/15/33 |  | 52 | &nbsp;&nbsp; 52269 |
| Pinewood Finco PLC, 6.00%, 03/27/30<sup>(c)</sup> | GBP | 246 | &nbsp;&nbsp; 332753 |
| &nbsp;&nbsp;&nbsp; Premier Entertainment Sub LLC/Premier Entertainment <br> Finance Corp.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.63%, 09/01/29 | USD | 21 | &nbsp;&nbsp; 11340 |
| &nbsp;&nbsp;&nbsp; 5.88%, 09/01/31 |  | 23 | &nbsp;&nbsp; 11858 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Hotels, Restaurants & Leisure (continued)** | **Hotels, Restaurants & Leisure (continued)** | **Hotels, Restaurants & Leisure (continued)** | **Hotels, Restaurants & Leisure (continued)** |
| &nbsp;&nbsp;&nbsp; Rivers Enterprise Borrower LLC/Rivers Enterprise <br> Finance Corp., 6.63%, 02/01/33<sup>(b)</sup><br>| USD | 13 | &nbsp;&nbsp; $13173 |
| &nbsp;&nbsp;&nbsp; Rivers Enterprise Lender LLC/Rivers Enterprise Lender <br> Corp., 10/15/30<sup>(b)(g)</sup><br>|  | 12 | &nbsp;&nbsp; 12107 |
| Sabre GLBL, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 8.63%, 06/01/27 |  | 24 | &nbsp;&nbsp; 24344 |
| &nbsp;&nbsp;&nbsp; 10.75%, 11/15/29 |  | 42 | &nbsp;&nbsp; 40589 |
| &nbsp;&nbsp;&nbsp; 11.13%, 07/15/30 |  | 24 | &nbsp;&nbsp; 23243 |
| Starz Capital Holdings 1, Inc., 6.00%, 04/15/30<sup>(b)</sup> |  | 26 | &nbsp;&nbsp; 24657 |
| Station Casinos LLC, 6.63%, 03/15/32<sup>(b)</sup> |  | 39 | &nbsp;&nbsp; 40062 |
| Stonegate Pub Co. Financing PLC<sup>(c)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 10.75%, 07/31/29 | GBP | 100 | &nbsp;&nbsp; 134858 |
| &nbsp;&nbsp;&nbsp; (3-mo. EURIBOR + 6.63%), 8.66%, 07/31/29<sup>(a)</sup> | EUR | 100 | &nbsp;&nbsp; 115698 |
| TUI Cruises GmbH, 5.00%, 05/15/30<sup>(c)</sup> |  | 100 | &nbsp;&nbsp; 120538 |
| Viking Cruises Ltd.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 9.13%, 07/15/31 | USD | 81 | &nbsp;&nbsp; 86939 |
| &nbsp;&nbsp;&nbsp; 10/15/33<sup>(g)</sup> |  | 46 | &nbsp;&nbsp; 46032 |
| Voyager Parent LLC, 9.25%, 07/01/32<sup>(b)</sup> |  | 18 | &nbsp;&nbsp; 19035 |
| Warnermedia Holdings, Inc., 5.05%, 03/15/42 |  | 107 | &nbsp;&nbsp; 85420 |
| Wynn Macau Ltd. |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.63%, 08/26/28<sup>(b)</sup> |  | 200 | &nbsp;&nbsp; 199602 |
| &nbsp;&nbsp;&nbsp; 5.63%, 08/26/28<sup>(c)</sup> |  | 200 | &nbsp;&nbsp; 199602 |
| &nbsp;&nbsp;&nbsp; 6.75%, 02/15/34<sup>(c)</sup> |  | 350 | &nbsp;&nbsp; 354795 |
| &nbsp;&nbsp;&nbsp; Wynn Resorts Finance LLC/Wynn Resorts Capital Corp., <br> 7.13%, 02/15/31<sup>(b)</sup><br>|  | 71 | &nbsp;&nbsp; 76421 |
|  |  |  | &nbsp;&nbsp; 4242216 |
| **Household Durables — 0.0%** | **Household Durables — 0.0%** | **Household Durables — 0.0%** | **Household Durables — 0.0%** |
| &nbsp;&nbsp;&nbsp; Ashton Woods USA LLC/Ashton Woods Finance Co., <br> 6.88%, 08/01/33<sup>(b)</sup><br>|  | 11 | &nbsp;&nbsp; 11094 |
| Beazer Homes USA, Inc., 5.88%, 10/15/27 |  | 4 | &nbsp;&nbsp; 3997 |
| Century Communities, Inc., 6.63%, 09/15/33<sup>(b)</sup> |  | 13 | &nbsp;&nbsp; 13114 |
| Dream Finders Homes, Inc., 8.25%, 08/15/28<sup>(b)</sup> |  | 8 | &nbsp;&nbsp; 8300 |
| Empire Communities Corp., 9.75%, 05/01/29<sup>(b)</sup> |  | 5 | &nbsp;&nbsp; 5243 |
| K Hovnanian Enterprises, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 8.00%, 04/01/31 |  | 20 | &nbsp;&nbsp; 20509 |
| &nbsp;&nbsp;&nbsp; 8.38%, 10/01/33 |  | 20 | &nbsp;&nbsp; 20505 |
| LGI Homes, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 8.75%, 12/15/28 |  | 6 | &nbsp;&nbsp; 6299 |
| &nbsp;&nbsp;&nbsp; 7.00%, 11/15/32 |  | 14 | &nbsp;&nbsp; 13670 |
| Meritage Homes Corp., 1.75%, 05/15/28<sup>(k)</sup> |  | 22 | &nbsp;&nbsp; 22516 |
| New Home Co., Inc., 9.25%, 10/01/29<sup>(b)</sup> |  | 13 | &nbsp;&nbsp; 13650 |
| Newell Brands, Inc., 8.50%, 06/01/28<sup>(b)</sup> |  | 12 | &nbsp;&nbsp; 12693 |
| STL Holding Co. LLC, 8.75%, 02/15/29<sup>(b)</sup> |  | 9 | &nbsp;&nbsp; 9431 |
| Whirlpool Corp., 6.50%, 06/15/33 |  | 13 | &nbsp;&nbsp; 12973 |
|  |  |  | &nbsp;&nbsp; 173994 |
| **Independent Power and Renewable Electricity Producers — 0.1%** | **Independent Power and Renewable Electricity Producers — 0.1%** | **Independent Power and Renewable Electricity Producers — 0.1%** | **Independent Power and Renewable Electricity Producers — 0.1%** |
| Greenko Dutch BV, 3.85%, 03/29/26<sup>(c)</sup> |  | 173 | &nbsp;&nbsp; 171314 |
| Greenko Power II Ltd., 4.30%, 12/13/28<sup>(c)</sup> |  | 160 | &nbsp;&nbsp; 152136 |
| ReNew Pvt Ltd., 5.88%, 03/05/27<sup>(c)</sup> |  | 200 | &nbsp;&nbsp; 199722 |
| &nbsp;&nbsp;&nbsp; San Miguel Global Power Holdings Corp., (5-year CMT + <br> 7.73%), 8.75%<sup>(a)(c)(i)</sup><br>|  | 200 | &nbsp;&nbsp; 205000 |
| Vistra Corp., (5-year CMT + 6.93%), 8.00%<sup>(a)(b)(i)</sup> |  | 13 | &nbsp;&nbsp; 13297 |
| XPLR Infrastructure LP<sup>(b)(k)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 0.00%, 11/15/25<sup>(l)</sup> |  | 37 | &nbsp;&nbsp; 36723 |
| &nbsp;&nbsp;&nbsp; 2.50%, 06/15/26 |  | 43 | &nbsp;&nbsp; 41925 |
|  |  |  | &nbsp;&nbsp; 820117 |
| **Industrial Conglomerates — 0.0%** | **Industrial Conglomerates — 0.0%** | **Industrial Conglomerates — 0.0%** | **Industrial Conglomerates — 0.0%** |
| Enpro, Inc., 6.13%, 06/01/33<sup>(b)</sup> |  | 12 | &nbsp;&nbsp; 12265 |
| Maxam Prill SARL, 6.00%, 07/15/30<sup>(c)</sup> | EUR | 197 | &nbsp;&nbsp; 234807 |
|  |  |  | &nbsp;&nbsp; 247072 |

---

------

Consolidated Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Credit Strategies Fund**

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

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Insurance — 0.5%** | **Insurance — 0.5%** | **Insurance — 0.5%** | **Insurance — 0.5%** |
| Acrisure LLC/Acrisure Finance, Inc., 6.75%, 07/01/32<sup>(b)</sup> | USD | 8 | &nbsp;&nbsp; $8237 |
| &nbsp;&nbsp;&nbsp; Alliant Holdings Intermediate LLC/Alliant Holdings Co-<br> Issuer<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 4.25%, 10/15/27 |  | 139 | &nbsp;&nbsp; 136692 |
| &nbsp;&nbsp;&nbsp; 6.75%, 10/15/27 |  | 165 | &nbsp;&nbsp; 165355 |
| &nbsp;&nbsp;&nbsp; 7.38%, 10/01/32 |  | 102 | &nbsp;&nbsp; 105104 |
| AmWINS Group, Inc., 4.88%, 06/30/29<sup>(b)</sup> |  | 32 | &nbsp;&nbsp; 31101 |
| &nbsp;&nbsp;&nbsp; Amynta Agency Borrower, Inc. and Amynta Warranty <br> Borrower, Inc., 7.50%, 07/15/33<sup>(b)</sup><br>|  | 25 | &nbsp;&nbsp; 25591 |
| &nbsp;&nbsp;&nbsp; APH Somerset Investor 2 LLC/APH2 Somerset Investor <br> 2 LLC/APH3 Somerset Investor 2 LLC, 7.88%, <br> 11/01/29<sup>(b)</sup><br>|  | 17 | &nbsp;&nbsp; 17742 |
| Ardonagh Finco Ltd., 6.88%, 02/15/31<sup>(c)</sup> | EUR | 266 | &nbsp;&nbsp; 322797 |
| &nbsp;&nbsp;&nbsp; Howden U.K. Refinance PLC/Howden U.K. Refinance <br> 2 PLC/Howden U.S. Refinance LLC<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 7.25%, 02/15/31 | USD | 107 | &nbsp;&nbsp; 110164 |
| &nbsp;&nbsp;&nbsp; 8.13%, 02/15/32 |  | 65 | &nbsp;&nbsp; 67437 |
| HUB International Ltd.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 7.25%, 06/15/30 |  | 139 | &nbsp;&nbsp; 144964 |
| &nbsp;&nbsp;&nbsp; 7.38%, 01/31/32 |  | 241 | &nbsp;&nbsp; 250963 |
| Jones Deslauriers Insurance Management, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 8.50%, 03/15/30 |  | 43 | &nbsp;&nbsp; 45176 |
| &nbsp;&nbsp;&nbsp; 6.88%, 10/01/33 |  | 27 | &nbsp;&nbsp; 26859 |
| &nbsp;&nbsp;&nbsp; Meiji Yasuda Life Insurance Co., (5-year CMT + 2.91%), <br> 6.10%, 06/11/55<sup>(a)(c)</sup><br>|  | 600 | &nbsp;&nbsp; 624278 |
| &nbsp;&nbsp;&nbsp; Nanshan Life Pte. Ltd., (5-year CMT + 1.85%), 5.88%, <br> 03/17/41<sup>(a)(c)</sup><br>|  | 200 | &nbsp;&nbsp; 202966 |
| Nassau Cos., of New York, 7.88%, 07/15/30<sup>(b)</sup> |  | 6 | &nbsp;&nbsp; 6128 |
| Panther Escrow Issuer LLC, 7.13%, 06/01/31<sup>(b)</sup> |  | 193 | &nbsp;&nbsp; 200743 |
| RLGH Finance Bermuda Ltd., 6.75%, 07/02/35<sup>(c)</sup> |  | 275 | &nbsp;&nbsp; 293393 |
| &nbsp;&nbsp;&nbsp; Sumitomo Life Insurance Co., (5-year CMT + 2.84%), <br> 5.88%<sup>(a)(c)(i)</sup><br>|  | 200 | &nbsp;&nbsp; 204832 |
| Unipol Assicurazioni SpA, 4.90%, 05/23/34<sup>(c)</sup> | EUR | 100 | &nbsp;&nbsp; 123629 |
|  |  |  | &nbsp;&nbsp; 3114151 |
| **Interactive Media & Services — 0.9%** | **Interactive Media & Services — 0.9%** | **Interactive Media & Services — 0.9%** | **Interactive Media & Services — 0.9%** |
| iliad SA, 4.25%, 01/09/32<sup>(c)</sup> |  | 100 | &nbsp;&nbsp; 118042 |
| Snap, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.88%, 03/01/33 | USD | 48 | &nbsp;&nbsp; 49061 |
| &nbsp;&nbsp;&nbsp; 6.88%, 03/15/34 |  | 40 | &nbsp;&nbsp; 40485 |
| Telegram Group, Inc., 9.00%, 06/05/30<sup>(c)</sup> |  | 5000 | &nbsp;&nbsp; 5087948 |
|  |  |  | &nbsp;&nbsp; 5295536 |
| **Internet Software & Services — 0.1%** | **Internet Software & Services — 0.1%** | **Internet Software & Services — 0.1%** | **Internet Software & Services — 0.1%** |
| Engineering - Ingegneria Informatica - SpA<sup>(c)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 11.13%, 05/15/28 | EUR | 116 | &nbsp;&nbsp; 145127 |
| &nbsp;&nbsp;&nbsp; 8.63%, 02/15/30 |  | 100 | &nbsp;&nbsp; 126475 |
| Getty Images, Inc., 11.25%, 02/21/30<sup>(b)</sup> | USD | 20 | &nbsp;&nbsp; 19099 |
| ION Trading Technologies SARL, 5.75%, 05/15/28<sup>(b)</sup> |  | 200 | &nbsp;&nbsp; 196266 |
| Match Group Holdings II LLC, 6.13%, 09/15/33<sup>(b)</sup> |  | 26 | &nbsp;&nbsp; 26228 |
| Rakuten Group, Inc., 9.75%, 04/15/29<sup>(c)</sup> |  | 200 | &nbsp;&nbsp; 224893 |
|  |  |  | &nbsp;&nbsp; 738088 |
| **IT Services — 0.2%** | **IT Services — 0.2%** | **IT Services — 0.2%** | **IT Services — 0.2%** |
| &nbsp;&nbsp;&nbsp; Almaviva-The Italian Innovation Co. SpA, 5.00%, <br> 10/30/30<sup>(c)</sup><br>| EUR | 212 | &nbsp;&nbsp; 252840 |
| Amentum Holdings, Inc., 7.25%, 08/01/32<sup>(b)</sup> | USD | 19 | &nbsp;&nbsp; 19729 |
| Atos SE<sup>(c)(j)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.20%, 12/18/30 | EUR | 180 | &nbsp;&nbsp; 199298 |
| &nbsp;&nbsp;&nbsp; 9.36%, 12/18/29 |  | 229 | &nbsp;&nbsp; 308790 |
| CA Magnum Holdings, 5.38%, 10/31/26<sup>(c)</sup> | USD | 200 | &nbsp;&nbsp; 199025 |
| CACI International, Inc., 6.38%, 06/15/33<sup>(b)</sup> |  | 26 | &nbsp;&nbsp; 26820 |
| &nbsp;&nbsp;&nbsp; Cedacri SpA, (3-mo. EURIBOR + 4.63%), 6.66%, <br> 05/15/28<sup>(a)(c)</sup><br>| EUR | 100 | &nbsp;&nbsp; 118077 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **IT Services (continued)** | **IT Services (continued)** | **IT Services (continued)** | **IT Services (continued)** |
| Fortress Intermediate 3, Inc., 7.50%, 06/01/31<sup>(b)</sup> | USD | 68 | &nbsp;&nbsp; $71199 |
| McAfee Corp., 7.38%, 02/15/30<sup>(b)</sup> |  | 62 | &nbsp;&nbsp; 57511 |
| OVH Groupe SA, 4.75%, 02/05/31<sup>(c)</sup> | EUR | 116 | &nbsp;&nbsp; 138681 |
| &nbsp;&nbsp;&nbsp; Science Applications International Corp., 5.88%, <br> 11/01/33<sup>(b)</sup><br>| USD | 18 | &nbsp;&nbsp; 18006 |
|  |  |  | &nbsp;&nbsp; 1409976 |
| **Leisure Products**<sup>(c)</sup> **— 0.1%** | **Leisure Products**<sup>(c)</sup> **— 0.1%** | **Leisure Products**<sup>(c)</sup> **— 0.1%** | **Leisure Products**<sup>(c)</sup> **— 0.1%** |
| Deuce Finco PLC, 5.50%, 06/15/27 | GBP | 100 | &nbsp;&nbsp; 134239 |
| Dometic Group AB, 5.00%, 09/11/30 | EUR | 100 | &nbsp;&nbsp; 117837 |
| Pinnacle Bidco PLC, 10.00%, 10/11/28 | GBP | 312 | &nbsp;&nbsp; 442698 |
|  |  |  | &nbsp;&nbsp; 694774 |
| **Machinery — 0.1%** | **Machinery — 0.1%** | **Machinery — 0.1%** | **Machinery — 0.1%** |
| Chart Industries, Inc., 9.50%, 01/01/31<sup>(b)</sup> | USD | 40 | &nbsp;&nbsp; 42854 |
| &nbsp;&nbsp;&nbsp; Husky Injection Molding Systems Ltd./Titan Co-Borrower <br> LLC, 9.00%, 02/15/29<sup>(b)</sup><br>|  | 76 | &nbsp;&nbsp; 79434 |
| &nbsp;&nbsp;&nbsp; IMA Industria Macchine Automatiche SpA, (3-mo. <br> EURIBOR + 3.75%), 5.78%, 04/15/29<sup>(a)(c)</sup><br>| EUR | 200 | &nbsp;&nbsp; 236984 |
| Manitowoc Co., Inc., 9.25%, 10/01/31<sup>(b)</sup> | USD | 8 | &nbsp;&nbsp; 8394 |
| TK Elevator U.S. Newco, Inc., 5.25%, 07/15/27<sup>(b)</sup> |  | 295 | &nbsp;&nbsp; 293957 |
|  |  |  | &nbsp;&nbsp; 661623 |
| **Media — 0.5%** | **Media — 0.5%** | **Media — 0.5%** | **Media — 0.5%** |
| CCO Holdings LLC/CCO Holdings Capital Corp.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 7.38%, 03/01/31 |  | 306 | &nbsp;&nbsp; 315726 |
| &nbsp;&nbsp;&nbsp; 4.25%, 01/15/34 |  | 2 | &nbsp;&nbsp; 1729 |
| CSC Holdings LLC, 11.25%, 05/15/28<sup>(b)</sup> |  | 200 | &nbsp;&nbsp; 185152 |
| Directv Financing LLC, 8.88%, 02/01/30<sup>(b)</sup> |  | 36 | &nbsp;&nbsp; 35558 |
| &nbsp;&nbsp;&nbsp; Directv Financing LLC/Directv Financing Co-Obligor, <br> Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.88%, 08/15/27 |  | 26 | &nbsp;&nbsp; 25971 |
| &nbsp;&nbsp;&nbsp; 10.00%, 02/15/31 |  | 48 | &nbsp;&nbsp; 47930 |
| DISH DBS Corp.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.25%, 12/01/26 |  | 72 | &nbsp;&nbsp; 70747 |
| &nbsp;&nbsp;&nbsp; 5.75%, 12/01/28 |  | 55 | &nbsp;&nbsp; 52725 |
| DISH Network Corp., 11.75%, 11/15/27<sup>(b)</sup> |  | 102 | &nbsp;&nbsp; 107942 |
| Gray Media, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 10.50%, 07/15/29 |  | 35 | &nbsp;&nbsp; 37844 |
| &nbsp;&nbsp;&nbsp; 9.63%, 07/15/32 |  | 32 | &nbsp;&nbsp; 32692 |
| &nbsp;&nbsp;&nbsp; 7.25%, 08/15/33 |  | 37 | &nbsp;&nbsp; 36665 |
| Live Nation Entertainment, Inc., 4.75%, 10/15/27<sup>(b)</sup> |  | 4 | &nbsp;&nbsp; 3973 |
| Midcontinent Communications, 8.00%, 08/15/32<sup>(b)</sup> |  | 40 | &nbsp;&nbsp; 41212 |
| Sinclair Television Group, Inc., 8.13%, 02/15/33<sup>(b)</sup> |  | 39 | &nbsp;&nbsp; 40024 |
| Tele Columbus AG, (10.00% PIK), 10.00%, 01/01/29<sup>(c)(h)</sup> | EUR | 127 | &nbsp;&nbsp; 100331 |
| Univision Communications, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 8.00%, 08/15/28 | USD | 66 | &nbsp;&nbsp; 68390 |
| &nbsp;&nbsp;&nbsp; 8.50%, 07/31/31 |  | 29 | &nbsp;&nbsp; 29947 |
| &nbsp;&nbsp;&nbsp; 9.38%, 08/01/32 |  | 42 | &nbsp;&nbsp; 44758 |
| &nbsp;&nbsp;&nbsp; Virgin Media O2 Vendor Financing Notes V DAC, 7.88%, <br> 03/15/32<sup>(c)</sup><br>| GBP | 126 | &nbsp;&nbsp; 175133 |
| Virgin Media Secured Finance PLC<sup>(c)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.25%, 05/15/29 |  | 500 | &nbsp;&nbsp; 656327 |
| &nbsp;&nbsp;&nbsp; 4.25%, 01/15/30 |  | 100 | &nbsp;&nbsp; 124731 |
| VZ Secured Financing BV, 5.25%, 01/15/33<sup>(c)</sup> | EUR | 161 | &nbsp;&nbsp; 189014 |
| VZ Vendor Financing II BV, 2.88%, 01/15/29<sup>(c)</sup> |  | 196 | &nbsp;&nbsp; 216925 |
|  |  |  | &nbsp;&nbsp; 2641446 |
| **Metals & Mining — 0.2%** | **Metals & Mining — 0.2%** | **Metals & Mining — 0.2%** | **Metals & Mining — 0.2%** |
| Arsenal AIC Parent LLC, 11.50%, 10/01/31<sup>(b)</sup> | USD | 125 | &nbsp;&nbsp; 138828 |
| &nbsp;&nbsp;&nbsp; Big River Steel LLC/BRS Finance Corp., 6.63%, <br> 01/31/29<sup>(b)</sup><br>|  | 169 | &nbsp;&nbsp; 169066 |
| Cleveland-Cliffs, Inc., 6.88%, 11/01/29<sup>(b)</sup> |  | 25 | &nbsp;&nbsp; 25477 |
| JSW Steel Ltd., 3.95%, 04/05/27<sup>(c)</sup> |  | 200 | &nbsp;&nbsp; 196400 |
| Kaiser Aluminum Corp., 4.50%, 06/01/31<sup>(b)</sup> |  | 139 | &nbsp;&nbsp; 131012 |

---

Consolidated Schedule of Investments

------

Consolidated Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Credit Strategies Fund**

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

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Metals & Mining (continued)** | **Metals & Mining (continued)** | **Metals & Mining (continued)** | **Metals & Mining (continued)** |
| New Gold, Inc., 6.88%, 04/01/32<sup>(b)</sup> | USD | 22 | &nbsp;&nbsp; $23043 |
| Novelis Corp.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.88%, 01/30/30 |  | 25 | &nbsp;&nbsp; 25924 |
| &nbsp;&nbsp;&nbsp; 3.88%, 08/15/31 |  | 96 | &nbsp;&nbsp; 87522 |
| &nbsp;&nbsp;&nbsp; 6.38%, 08/15/33 |  | 56 | &nbsp;&nbsp; 56579 |
|  |  |  | &nbsp;&nbsp; 853851 |
| **Mortgage Real Estate Investment Trusts (REITs)**<sup>(b)</sup> **— 0.0%** | **Mortgage Real Estate Investment Trusts (REITs)**<sup>(b)</sup> **— 0.0%** | **Mortgage Real Estate Investment Trusts (REITs)**<sup>(b)</sup> **— 0.0%** | **Mortgage Real Estate Investment Trusts (REITs)**<sup>(b)</sup> **— 0.0%** |
| Arbor Realty SR, Inc., 7.88%, 07/15/30 |  | 11 | &nbsp;&nbsp; 11566 |
| Blackstone Mortgage Trust, Inc., 3.75%, 01/15/27 |  | 10 | &nbsp;&nbsp; 9763 |
| Starwood Property Trust, Inc., 6.50%, 07/01/30 |  | 12 | &nbsp;&nbsp; 12412 |
|  |  |  | &nbsp;&nbsp; 33741 |
| **Multi-Utilities — 0.0%** | **Multi-Utilities — 0.0%** | **Multi-Utilities — 0.0%** | **Multi-Utilities — 0.0%** |
| &nbsp;&nbsp;&nbsp; AmeriGas Partners LP/AmeriGas Finance Corp., 9.50%, <br> 06/01/30<sup>(b)</sup><br>|  | 6 | &nbsp;&nbsp; 6281 |
| **Oil, Gas & Consumable Fuels — 0.7%** | **Oil, Gas & Consumable Fuels — 0.7%** | **Oil, Gas & Consumable Fuels — 0.7%** | **Oil, Gas & Consumable Fuels — 0.7%** |
| &nbsp;&nbsp;&nbsp; Aethon United BR LP/Aethon United Finance Corp., <br> 7.50%, 10/01/29<sup>(b)</sup><br>|  | 21 | &nbsp;&nbsp; 21901 |
| &nbsp;&nbsp;&nbsp; Ascent Resources Utica Holdings LLC/ARU Finance <br> Corp.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 9.00%, 11/01/27 |  | 2 | &nbsp;&nbsp; 2416 |
| &nbsp;&nbsp;&nbsp; 6.63%, 07/15/33 |  | 13 | &nbsp;&nbsp; 13217 |
| Caturus Energy LLC, 8.50%, 02/15/30<sup>(b)</sup> |  | 43 | &nbsp;&nbsp; 44770 |
| CD&R Firefly Bidco PLC, 8.63%, 04/30/29<sup>(c)</sup> | GBP | 337 | &nbsp;&nbsp; 476179 |
| Chord Energy Corp., 6.75%, 03/15/33<sup>(b)</sup> | USD | 5 | &nbsp;&nbsp; 5066 |
| CITGO Petroleum Corp., 8.38%, 01/15/29<sup>(b)</sup> |  | 68 | &nbsp;&nbsp; 70665 |
| Civitas Resources, Inc., 8.38%, 07/01/28<sup>(b)</sup> |  | 46 | &nbsp;&nbsp; 47681 |
| CNX Resources Corp., 7.25%, 03/01/32<sup>(b)</sup> |  | 9 | &nbsp;&nbsp; 9337 |
| Comstock Resources, Inc., 6.75%, 03/01/29<sup>(b)</sup> |  | 104 | &nbsp;&nbsp; 103830 |
| Crescent Energy Finance LLC<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 7.63%, 04/01/32 |  | 42 | &nbsp;&nbsp; 41710 |
| &nbsp;&nbsp;&nbsp; 7.38%, 01/15/33 |  | 42 | &nbsp;&nbsp; 40894 |
| &nbsp;&nbsp;&nbsp; 8.38%, 01/15/34 |  | 29 | &nbsp;&nbsp; 29383 |
| &nbsp;&nbsp;&nbsp; Delek Logistics Partners LP/Delek Logistics Finance <br> Corp., 7.38%, 06/30/33<sup>(b)</sup><br>|  | 22 | &nbsp;&nbsp; 22372 |
| &nbsp;&nbsp;&nbsp; Diamond Foreign Asset Co./Diamond Finance LLC, <br> 8.50%, 10/01/30<sup>(b)</sup><br>|  | 18 | &nbsp;&nbsp; 19074 |
| Enbridge, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.70%, 11/15/53 |  | 530 | &nbsp;&nbsp; 591879 |
| &nbsp;&nbsp;&nbsp; (5-year CMT + 2.97%), 7.20%, 06/27/54<sup>(a)</sup> |  | 15 | &nbsp;&nbsp; 15906 |
| &nbsp;&nbsp;&nbsp; (5-year CMT + 3.12%), 7.38%, 03/15/55<sup>(a)</sup> |  | 15 | &nbsp;&nbsp; 15870 |
| &nbsp;&nbsp;&nbsp; Energy Transfer LP, (5-year CMT + 2.83%), 7.13%, <br> 10/01/54<sup>(a)</sup><br>|  | 21 | &nbsp;&nbsp; 21736 |
| Excelerate Energy LP, 8.00%, 05/15/30<sup>(b)</sup> |  | 13 | &nbsp;&nbsp; 13838 |
| Genesis Energy LP/Genesis Energy Finance Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; 7.75%, 02/01/28 |  | 2 | &nbsp;&nbsp; 2014 |
| &nbsp;&nbsp;&nbsp; 7.88%, 05/15/32 |  | 21 | &nbsp;&nbsp; 21902 |
| &nbsp;&nbsp;&nbsp; 8.00%, 05/15/33 |  | 15 | &nbsp;&nbsp; 15689 |
| &nbsp;&nbsp;&nbsp; Global Partners LP/GLP Finance Corp., 7.13%, <br> 07/01/33<sup>(b)</sup><br>|  | 8 | &nbsp;&nbsp; 8200 |
| Harvest Midstream I LP, 7.50%, 05/15/32<sup>(b)</sup> |  | 28 | &nbsp;&nbsp; 28602 |
| Hilcorp Energy I LP/Hilcorp Finance Co.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 8.38%, 11/01/33 |  | 101 | &nbsp;&nbsp; 106078 |
| &nbsp;&nbsp;&nbsp; 6.88%, 05/15/34 |  | 25 | &nbsp;&nbsp; 24036 |
| &nbsp;&nbsp;&nbsp; 7.25%, 02/15/35 |  | 10 | &nbsp;&nbsp; 9773 |
| Howard Midstream Energy Partners LLC<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 7.38%, 07/15/32 |  | 19 | &nbsp;&nbsp; 19723 |
| &nbsp;&nbsp;&nbsp; 6.63%, 01/15/34 |  | 23 | &nbsp;&nbsp; 23450 |
| Ithaca Energy North Sea PLC, 5.50%, 10/01/31<sup>(c)</sup> | EUR | 100 | &nbsp;&nbsp; 118432 |
| ITT Holdings LLC, 6.50%, 08/01/29<sup>(b)</sup> | USD | 11 | &nbsp;&nbsp; 10815 |
| &nbsp;&nbsp;&nbsp; Magnolia Oil & Gas Operating LLC/Magnolia Oil & Gas <br> Finance Corp., 6.88%, 12/01/32<sup>(b)</sup><br>|  | 11 | &nbsp;&nbsp; 11288 |
| MPLX LP, 4.95%, 03/14/52 |  | 400 | &nbsp;&nbsp; 341232 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Oil, Gas & Consumable Fuels (continued)** | **Oil, Gas & Consumable Fuels (continued)** | **Oil, Gas & Consumable Fuels (continued)** | **Oil, Gas & Consumable Fuels (continued)** |
| Nabors Industries, Inc., 7.38%, 05/15/27<sup>(b)</sup> | USD | 54 | &nbsp;&nbsp; $54816 |
| &nbsp;&nbsp;&nbsp; NGL Energy Operating LLC/NGL Energy Finance <br> Corp.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 8.13%, 02/15/29 |  | 20 | &nbsp;&nbsp; 20506 |
| &nbsp;&nbsp;&nbsp; 8.38%, 02/15/32 |  | 86 | &nbsp;&nbsp; 88120 |
| Noble Finance II LLC, 8.00%, 04/15/30<sup>(b)</sup> |  | 2 | &nbsp;&nbsp; 2070 |
| Northern Oil & Gas, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 8.13%, 03/01/28 |  | 116 | &nbsp;&nbsp; 117638 |
| &nbsp;&nbsp;&nbsp; 10/15/33<sup>(g)</sup> |  | 36 | &nbsp;&nbsp; 35858 |
| Northriver Midstream Finance LP, 6.75%, 07/15/32<sup>(b)</sup> |  | 13 | &nbsp;&nbsp; 13294 |
| Prairie Acquiror LP, 9.00%, 08/01/29<sup>(b)</sup> |  | 11 | &nbsp;&nbsp; 11452 |
| Sunoco LP<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.63%, 03/15/31 |  | 10 | &nbsp;&nbsp; 9926 |
| &nbsp;&nbsp;&nbsp; 6.25%, 07/01/33 |  | 20 | &nbsp;&nbsp; 20357 |
| &nbsp;&nbsp;&nbsp; 5.88%, 03/15/34 |  | 10 | &nbsp;&nbsp; 9913 |
| &nbsp;&nbsp;&nbsp; Tallgrass Energy Partners LP/Tallgrass Energy Finance <br> Corp., 7.38%, 02/15/29<sup>(b)</sup><br>|  | 41 | &nbsp;&nbsp; 42224 |
| TGNR Intermediate Holdings LLC, 5.50%, 10/15/29<sup>(b)</sup> |  | 3 | &nbsp;&nbsp; 2936 |
| TransMontaigne Partners LLC, 8.50%, 06/15/30<sup>(b)</sup> |  | 4 | &nbsp;&nbsp; 4168 |
| Transocean International Ltd.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 8.00%, 02/01/27 |  | 43 | &nbsp;&nbsp; 42940 |
| &nbsp;&nbsp;&nbsp; 8.25%, 05/15/29 |  | 17 | &nbsp;&nbsp; 16760 |
| &nbsp;&nbsp;&nbsp; 8.75%, 02/15/30 |  | 43 | &nbsp;&nbsp; 44980 |
| &nbsp;&nbsp;&nbsp; 8.50%, 05/15/31 |  | 13 | &nbsp;&nbsp; 12740 |
| &nbsp;&nbsp;&nbsp; 10/15/32<sup>(g)</sup> |  | 12 | &nbsp;&nbsp; 12000 |
| Valaris Ltd., 8.38%, 04/30/30<sup>(b)</sup> |  | 54 | &nbsp;&nbsp; 56044 |
| Venture Global LNG, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 9.50%, 02/01/29 |  | 89 | &nbsp;&nbsp; 98080 |
| &nbsp;&nbsp;&nbsp; 8.38%, 06/01/31 |  | 115 | &nbsp;&nbsp; 120747 |
| &nbsp;&nbsp;&nbsp; 9.88%, 02/01/32 |  | 72 | &nbsp;&nbsp; 78388 |
| Venture Global Plaquemines LNG LLC<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 7.50%, 05/01/33 |  | 29 | &nbsp;&nbsp; 32045 |
| &nbsp;&nbsp;&nbsp; 6.50%, 01/15/34 |  | 66 | &nbsp;&nbsp; 69475 |
| &nbsp;&nbsp;&nbsp; 7.75%, 05/01/35 |  | 25 | &nbsp;&nbsp; 28218 |
| &nbsp;&nbsp;&nbsp; 6.75%, 01/15/36 |  | 69 | &nbsp;&nbsp; 73290 |
| Vital Energy, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 7.75%, 07/31/29<sup>(b)</sup> |  | 10 | &nbsp;&nbsp; 9903 |
| &nbsp;&nbsp;&nbsp; 9.75%, 10/15/30 |  | 37 | &nbsp;&nbsp; 38630 |
| &nbsp;&nbsp;&nbsp; 7.88%, 04/15/32<sup>(b)</sup> |  | 46 | &nbsp;&nbsp; 44654 |
| Wildfire Intermediate Holdings LLC, 7.50%, 10/15/29<sup>(b)</sup> |  | 32 | &nbsp;&nbsp; 32332 |
| &nbsp;&nbsp;&nbsp; Wintershall Dea Finance 2 BV, (5-year EURIBOR ICE <br> Swap + 3.94%), 6.12%<sup>(a)(c)(i)</sup><br>| EUR | 200 | &nbsp;&nbsp; 245377 |
|  |  |  | &nbsp;&nbsp; 3838839 |
| **Passenger Airlines — 0.1%** | **Passenger Airlines — 0.1%** | **Passenger Airlines — 0.1%** | **Passenger Airlines — 0.1%** |
| American Airlines, Inc., 8.50%, 05/15/29<sup>(b)</sup> | USD | 14 | &nbsp;&nbsp; 14604 |
| &nbsp;&nbsp;&nbsp; American Airlines, Inc./AAdvantage Loyalty IP Ltd., <br> 5.75%, 04/20/29<sup>(b)</sup><br>|  | 3 | &nbsp;&nbsp; 3011 |
| &nbsp;&nbsp;&nbsp; Deutsche Lufthansa AG, (5-year EURIBOR ICE Swap + <br> 2.86%), 5.25%, 01/15/55<sup>(a)(c)</sup><br>| EUR | 200 | &nbsp;&nbsp; 242293 |
| &nbsp;&nbsp;&nbsp; JetBlue Airways Corp./JetBlue Loyalty LP, 9.88%, <br> 09/20/31<sup>(b)</sup><br>| USD | 25 | &nbsp;&nbsp; 25357 |
| OneSky Flight LLC, 8.88%, 12/15/29<sup>(b)</sup> |  | 14 | &nbsp;&nbsp; 14722 |
|  |  |  | &nbsp;&nbsp; 299987 |
| **Personal Care Products — 1.1%** | **Personal Care Products — 1.1%** | **Personal Care Products — 1.1%** | **Personal Care Products — 1.1%** |
| Beauty Health Co.<sup>(b)(k)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 1.25%, 10/01/26 |  | 4250 | &nbsp;&nbsp; 3827125 |
| &nbsp;&nbsp;&nbsp; 7.95%, 11/15/28 |  | 2500 | &nbsp;&nbsp; 2700478 |
| Opal Bidco SAS, 5.50%, 03/31/32<sup>(c)</sup> | EUR | 100 | &nbsp;&nbsp; 121513 |
|  |  |  | &nbsp;&nbsp; 6649116 |
| **Pharmaceuticals — 0.3%** | **Pharmaceuticals — 0.3%** | **Pharmaceuticals — 0.3%** | **Pharmaceuticals — 0.3%** |
| 1261229 B.C. Ltd., 10.00%, 04/15/32<sup>(b)</sup> | USD | 200 | &nbsp;&nbsp; 205010 |
| Amneal Pharmaceuticals LLC, 6.88%, 08/01/32<sup>(b)</sup> |  | 14 | &nbsp;&nbsp; 14479 |

---

------

Consolidated Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Credit Strategies Fund**

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

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** |
| Bausch Health Cos., Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 4.88%, 06/01/28 | USD | 4 | &nbsp;&nbsp; $3580 |
| &nbsp;&nbsp;&nbsp; 11.00%, 09/30/28 |  | 103 | &nbsp;&nbsp; 107122 |
| Dolcetto Holdco SpA, 5.63%, 07/14/32<sup>(c)</sup> | EUR | 102 | &nbsp;&nbsp; 122777 |
| Grifols SA, 7.13%, 05/01/30<sup>(c)</sup> |  | 234 | &nbsp;&nbsp; 289392 |
| Gruenenthal GmbH, 4.63%, 11/15/31<sup>(c)</sup> |  | 226 | &nbsp;&nbsp; 270909 |
| Nidda Healthcare Holding GmbH<sup>(c)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 7.00%, 02/21/30 |  | 277 | &nbsp;&nbsp; 339019 |
| &nbsp;&nbsp;&nbsp; (3-mo. EURIBOR + 3.75%), 5.79%, 10/23/30<sup>(a)</sup> |  | 100 | &nbsp;&nbsp; 117615 |
| Rossini SARL<sup>(c)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.75%, 12/31/29 |  | 250 | &nbsp;&nbsp; 309652 |
| &nbsp;&nbsp;&nbsp; (3-mo. EURIBOR + 3.88%), 5.88%, 12/31/29<sup>(a)</sup> |  | 60 | &nbsp;&nbsp; 71648 |
|  |  |  | &nbsp;&nbsp; 1851203 |
| **Real Estate Management & Development — 0.6%** | **Real Estate Management & Development — 0.6%** | **Real Estate Management & Development — 0.6%** | **Real Estate Management & Development — 0.6%** |
| &nbsp;&nbsp;&nbsp; Adler Financing SARL, Series 1L, (8.25% PIK), 8.25%, <br> 12/31/28<sup>(h)</sup><br>|  | 377 | &nbsp;&nbsp; 471148 |
| &nbsp;&nbsp;&nbsp; Aldar Properties PJSC, (5-year CMT + 2.04%), 6.62%, <br> 04/15/55<sup>(a)(c)</sup><br>| USD | 250 | &nbsp;&nbsp; 261875 |
| Alexandrite Lake Lux Holdings SARL, 6.75%, 07/30/30<sup>(c)</sup> | EUR | 140 | &nbsp;&nbsp; 168151 |
| Alstria Office AG, 5.50%, 03/20/31<sup>(c)</sup> |  | 200 | &nbsp;&nbsp; 244160 |
| &nbsp;&nbsp;&nbsp; Anywhere Real Estate Group LLC/Anywhere Co-Issuer <br> Corp., 7.00%, 04/15/30<sup>(b)</sup><br>| USD | 39 | &nbsp;&nbsp; 38672 |
| &nbsp;&nbsp;&nbsp; Anywhere Real Estate Group LLC/Realogy Co-Issuer <br> Corp., 9.75%, 04/15/30<sup>(b)</sup><br>|  | 9 | &nbsp;&nbsp; 9822 |
| Aroundtown Finance SARL<sup>(a)(i)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; (5-year EURIBOR ICE Swap + 4.51%), 7.13% | EUR | 388 | &nbsp;&nbsp; 480364 |
| &nbsp;&nbsp;&nbsp; (5-year UK Government Bond + 4.49%), 8.63% | GBP | 100 | &nbsp;&nbsp; 138496 |
| Citycon Treasury BV, 5.38%, 07/08/31<sup>(c)</sup> | EUR | 300 | &nbsp;&nbsp; 354173 |
| &nbsp;&nbsp;&nbsp; Cushman & Wakefield U.S. Borrower LLC, 8.88%, <br> 09/01/31<sup>(b)</sup><br>| USD | 20 | &nbsp;&nbsp; 21346 |
| &nbsp;&nbsp;&nbsp; DEMIRE Deutsche Mittelstand Real Estate AG, 5.00%, <br> 12/31/27<sup>(c)(j)</sup><br>| EUR | 88 | &nbsp;&nbsp; 97265 |
| Fantasia Holdings Group Co. Ltd.<sup>(c)(d)(m)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 11.75%, 04/17/22 | USD | 710 | &nbsp;&nbsp; 7987 |
| &nbsp;&nbsp;&nbsp; 12.25%, 10/18/22 |  | 200 | &nbsp;&nbsp; 4125 |
| Five Point Operating Co. LP, 8.00%, 10/01/30<sup>(b)</sup> |  | 5 | &nbsp;&nbsp; 5074 |
| &nbsp;&nbsp;&nbsp; Grand City Properties SA, (5-year EUR Swap + 2.18%), <br> 1.50%<sup>(a)(c)(i)</sup><br>| EUR | 100 | &nbsp;&nbsp; 114812 |
| &nbsp;&nbsp;&nbsp; Modern Land China Co. Ltd., (2.00% Cash and 9.00% <br> PIK), 9.00%, 12/30/26<sup>(c)(d)(h)(m)</sup><br>| USD | — <br><sup>(n)</sup><br>| &nbsp;&nbsp; — |
| New Immo Holding SA<sup>(c)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 2.75%, 11/26/26 | EUR | 100 | &nbsp;&nbsp; 116038 |
| &nbsp;&nbsp;&nbsp; 3.25%, 07/23/27 |  | 200 | &nbsp;&nbsp; 231373 |
| &nbsp;&nbsp;&nbsp; 5.88%, 04/17/28 |  | 100 | &nbsp;&nbsp; 121225 |
| PCPD Capital Ltd., 5.13%, 06/18/26<sup>(c)</sup> | USD | 200 | &nbsp;&nbsp; 194376 |
| &nbsp;&nbsp;&nbsp; Vivion Investments SARL, (6.50% PIK), 6.50%, <br> 08/31/28<sup>(c)(h)</sup><br>| EUR | 148 | &nbsp;&nbsp; 173574 |
| Vonovia SE, Series B, 0.88%, 05/20/32<sup>(c)(k)</sup> |  | 100 | &nbsp;&nbsp; 117764 |
|  |  |  | &nbsp;&nbsp; 3371820 |
| **Retail REITs — 0.0%** | **Retail REITs — 0.0%** | **Retail REITs — 0.0%** | **Retail REITs — 0.0%** |
| &nbsp;&nbsp;&nbsp; Brookfield Property REIT, Inc./BPR Cumulus LLC/BPR <br> Nimbus LLC/GGSI Sellco LLC, 4.50%, 04/01/27<sup>(b)</sup><br>| USD | 14 | &nbsp;&nbsp; 13750 |
| **Semiconductors & Semiconductor Equipment — 0.0%** | **Semiconductors & Semiconductor Equipment — 0.0%** | **Semiconductors & Semiconductor Equipment — 0.0%** | **Semiconductors & Semiconductor Equipment — 0.0%** |
| Amkor Technology, Inc., 5.88%, 10/01/33<sup>(b)</sup> |  | 6 | &nbsp;&nbsp; 6061 |
| ams-OSRAM AG, 10.50%, 03/30/29<sup>(c)</sup> | EUR | 100 | &nbsp;&nbsp; 125087 |
| MKS, Inc., 1.25%, 06/01/30<sup>(k)</sup> | USD | 24 | &nbsp;&nbsp; 26280 |
| ON Semiconductor Corp., 0.50%, 03/01/29<sup>(k)</sup> |  | 16 | &nbsp;&nbsp; 14763 |
|  |  |  | &nbsp;&nbsp; 172191 |
| **Software — 1.4%** | **Software — 1.4%** | **Software — 1.4%** | **Software — 1.4%** |
| AthenaHealth Group, Inc., 6.50%, 02/15/30<sup>(b)</sup> |  | 268 | &nbsp;&nbsp; 265807 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Software (continued)** | **Software (continued)** | **Software (continued)** | **Software (continued)** |
| Camelot Finance SA, 4.50%, 11/01/26<sup>(b)</sup> | USD | 2 | &nbsp;&nbsp; $1993 |
| Capstone Borrower, Inc., 8.00%, 06/15/30<sup>(b)</sup> |  | 69 | &nbsp;&nbsp; 72160 |
| Central Parent, Inc./CDK Global, Inc., 7.25%, 06/15/29<sup>(b)</sup> |  | 53 | &nbsp;&nbsp; 45636 |
| Cloud Software Group, Inc.<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.50%, 03/31/29 |  | 195 | &nbsp;&nbsp; 196759 |
| &nbsp;&nbsp;&nbsp; 9.00%, 09/30/29 |  | 257 | &nbsp;&nbsp; 266562 |
| &nbsp;&nbsp;&nbsp; 8.25%, 06/30/32 |  | 134 | &nbsp;&nbsp; 142141 |
| CoreLogic, Inc., 4.50%, 05/01/28<sup>(b)</sup> |  | 118 | &nbsp;&nbsp; 114413 |
| CoreWeave, Inc., 9.25%, 06/01/30<sup>(b)</sup> |  | 17 | &nbsp;&nbsp; 17557 |
| Electronic Arts, Inc., 2.95%, 02/15/51 |  | 12 | &nbsp;&nbsp; 10407 |
| Ellucian Holdings, Inc., 6.50%, 12/01/29<sup>(b)</sup> |  | 49 | &nbsp;&nbsp; 49780 |
| &nbsp;&nbsp;&nbsp; Helios Software Holdings, Inc./ION Corporate Solutions <br> Finance SARL, 7.88%, 05/01/29<sup>(c)</sup><br>| EUR | 271 | &nbsp;&nbsp; 332925 |
| IPD 3 BV, 5.50%, 06/15/31<sup>(c)</sup> |  | 204 | &nbsp;&nbsp; 243225 |
| Skillz, Inc., 10.25%, 12/15/26<sup>(b)</sup> | USD | 2518 | &nbsp;&nbsp; 2492820 |
| &nbsp;&nbsp;&nbsp; TeamSystem SpA, (3-mo. EURIBOR + 3.50%), 5.53%, <br> 07/31/31<sup>(a)(c)</sup><br>| EUR | 100 | &nbsp;&nbsp; 117746 |
| UKG, Inc., 6.88%, 02/01/31<sup>(b)</sup> | USD | 191 | &nbsp;&nbsp; 197080 |
| X.AI LLC/X.AI Co. Issuer Corp., 12.50%, 06/30/30 |  | 3600 | &nbsp;&nbsp; 3775313 |
|  |  |  | &nbsp;&nbsp; 8342324 |
| **Specialty Retail — 0.1%** | **Specialty Retail — 0.1%** | **Specialty Retail — 0.1%** | **Specialty Retail — 0.1%** |
| Advance Auto Parts, Inc., 7.00%, 08/01/30<sup>(b)</sup> |  | 11 | &nbsp;&nbsp; 11317 |
| Afflelou SAS, 6.00%, 07/25/29<sup>(c)</sup> | EUR | 244 | &nbsp;&nbsp; 298817 |
| Bubbles Bidco SpA<sup>(c)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 6.50%, 09/30/31 |  | 100 | &nbsp;&nbsp; 120250 |
| &nbsp;&nbsp;&nbsp; (3-mo. EURIBOR + 4.25%), 6.25%, 09/30/31<sup>(a)</sup> |  | 100 | &nbsp;&nbsp; 118307 |
| &nbsp;&nbsp;&nbsp; Duomo Bidco SpA, (3-mo. EURIBOR + 4.13%), 6.15%, <br> 07/15/31<sup>(a)(c)</sup><br>|  | 128 | &nbsp;&nbsp; 151178 |
| Goldstory SAS, 6.75%, 02/01/30<sup>(c)</sup> |  | 100 | &nbsp;&nbsp; 121908 |
| Staples, Inc., 10.75%, 09/01/29<sup>(b)</sup> | USD | 9 | &nbsp;&nbsp; 8899 |
|  |  |  | &nbsp;&nbsp; 830676 |
| **Textiles, Apparel & Luxury Goods — 0.1%** | **Textiles, Apparel & Luxury Goods — 0.1%** | **Textiles, Apparel & Luxury Goods — 0.1%** | **Textiles, Apparel & Luxury Goods — 0.1%** |
| Beach Acquisition Bidco LLC, 5.25%, 07/15/32<sup>(c)</sup> | EUR | 100 | &nbsp;&nbsp; 120350 |
| European TopSoho SARL, 4.00%, 09/21/21<sup>(c)(d)(k)(m)</sup> |  | 300 | &nbsp;&nbsp; 286049 |
| &nbsp;&nbsp;&nbsp; PrestigeBidCo GmbH, (3-mo. EURIBOR + 3.75%), <br> 5.78%, 07/01/29<sup>(a)(c)</sup><br>|  | 200 | &nbsp;&nbsp; 236142 |
| VF Corp., 4.25%, 03/07/29 |  | 100 | &nbsp;&nbsp; 117610 |
|  |  |  | &nbsp;&nbsp; 760151 |
| **Transportation Infrastructure — 0.2%** | **Transportation Infrastructure — 0.2%** | **Transportation Infrastructure — 0.2%** | **Transportation Infrastructure — 0.2%** |
| Edge Finco PLC, 8.13%, 08/15/31<sup>(c)</sup> | GBP | 283 | &nbsp;&nbsp; 405822 |
| gategroup Finance Luxembourg SA, 3.00%, 02/28/27<sup>(c)</sup> | CHF | 265 | &nbsp;&nbsp; 329305 |
| Mobico Group PLC<sup>(c)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 4.88%, 09/26/31 | EUR | 135 | &nbsp;&nbsp; 124768 |
| &nbsp;&nbsp;&nbsp; (5-year UK Government Bond + 4.14%), 4.25%<sup>(a)(i)</sup> | GBP | 200 | &nbsp;&nbsp; 164222 |
| &nbsp;&nbsp;&nbsp; SGL Group ApS, (3-mo. EURIBOR + 4.75%), 6.75%, <br> 04/22/30<sup>(a)</sup><br>| EUR | 100 | &nbsp;&nbsp; 116369 |
|  |  |  | &nbsp;&nbsp; 1140486 |
| **Wireless Telecommunication Services — 1.4%** | **Wireless Telecommunication Services — 1.4%** | **Wireless Telecommunication Services — 1.4%** | **Wireless Telecommunication Services — 1.4%** |
| Altice France SA |  |  |  |
| &nbsp;&nbsp;&nbsp; 3.38%, 01/15/28<sup>(c)</sup> |  | 326 | &nbsp;&nbsp; 329157 |
| &nbsp;&nbsp;&nbsp; 5.50%, 01/15/28<sup>(b)</sup> | USD | 2100 | &nbsp;&nbsp; 1848000 |
| &nbsp;&nbsp;&nbsp; 5.13%, 07/15/29<sup>(b)</sup> |  | 1700 | &nbsp;&nbsp; 1451800 |
| &nbsp;&nbsp;&nbsp; 5.50%, 10/15/29<sup>(b)</sup> |  | 2748 | &nbsp;&nbsp; 2376845 |
| &nbsp;&nbsp;&nbsp; Ligado Networks LLC, (15.50% PIK), 15.50%, <br> 11/01/23<sup>(b)(d)(h)(m)</sup><br>|  | 3725 | &nbsp;&nbsp; 1219839 |
| Odido Holding BV, 3.75%, 01/15/29<sup>(c)</sup> | EUR | 173 | &nbsp;&nbsp; 201353 |

---

Consolidated Schedule of Investments

------

Consolidated Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Credit Strategies Fund**

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

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Wireless Telecommunication Services (continued)** | **Wireless Telecommunication Services (continued)** | **Wireless Telecommunication Services (continued)** | **Wireless Telecommunication Services (continued)** |
| Vmed O2 U.K. Financing I PLC, 5.63%, 04/15/32<sup>(c)</sup> | EUR | 200 | &nbsp;&nbsp; $240706 |
| Zegona Finance PLC, 6.75%, 07/15/29<sup>(c)</sup> |  | 313 | &nbsp;&nbsp; 389412 |
|  |  |  | &nbsp;&nbsp; 8057112 |
| **Total Corporate Bonds — 17.8%** <br>**(Cost: $104,305,444)** | **Total Corporate Bonds — 17.8%** <br>**(Cost: $104,305,444)** | **Total Corporate Bonds — 17.8%** <br>**(Cost: $104,305,444)** | &nbsp;&nbsp; 105100709 |
| **Fixed Rate Loan Interests** | **Fixed Rate Loan Interests** | **Fixed Rate Loan Interests** | **Fixed Rate Loan Interests** |
| **Distributors — 0.0%** | **Distributors — 0.0%** | **Distributors — 0.0%** | **Distributors — 0.0%** |
| &nbsp;&nbsp;&nbsp; TMK Hawk Parent Corp., 2024 PIK Term Loan, 11.00%, <br> 12/15/31<sup>(e)</sup><br>| USD | 1 | &nbsp;&nbsp; — |
| **Diversified Consumer Services — 0.0%** | **Diversified Consumer Services — 0.0%** | **Diversified Consumer Services — 0.0%** | **Diversified Consumer Services — 0.0%** |
| &nbsp;&nbsp;&nbsp; Clover Holdings SPV III LLC, 2024 USD Term Loan, <br> 15.00%, 12/09/27<br>|  | 3 | &nbsp;&nbsp; 2739 |
| **IT Services — 1.1%** | **IT Services — 1.1%** | **IT Services — 1.1%** | **IT Services — 1.1%** |
| &nbsp;&nbsp;&nbsp; Clover Holdings 2 LLC, Fixed Term Loan B, 7.75%, <br> 12/09/31<br>|  | 214 | &nbsp;&nbsp; 215670 |
| X Corp., 2025 Fixed Term Loan, 9.50%, 10/26/29 |  | 6009 | &nbsp;&nbsp; 6023181 |
|  |  |  | &nbsp;&nbsp; 6238851 |
| **Media — 0.4%** | **Media — 0.4%** | **Media — 0.4%** | **Media — 0.4%** |
| Terraboost Media, Term Loan, 10.98%, 08/21/26<sup>(e)</sup> |  | 2501 | &nbsp;&nbsp; 2475893 |
| **Software — 0.0%** | **Software — 0.0%** | **Software — 0.0%** | **Software — 0.0%** |
| Cotiviti, Inc., 2024 Fixed Term Loan B, 7.63%, 05/01/31 |  | 50 | &nbsp;&nbsp; 50141 |
| **Wireless Telecommunication Services — 1.5%** | **Wireless Telecommunication Services — 1.5%** | **Wireless Telecommunication Services — 1.5%** | **Wireless Telecommunication Services — 1.5%** |
| Ligado Networks LLC |  |  |  |
| &nbsp;&nbsp;&nbsp; 2025 Fixed DIP Roll-Up Term Loan, 17.50%, 12/31/49 |  | 6947 | &nbsp;&nbsp; 6112550 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 New Money DIP Term Loan, 17.50%, <br> 12/31/49<sup>(e)</sup><br>|  | 2910 | &nbsp;&nbsp; 2560726 |
|  |  |  | &nbsp;&nbsp; 8673276 |
| **Total Fixed Rate Loan Interests — 3.0%** <br>**(Cost: $17,143,589)** | **Total Fixed Rate Loan Interests — 3.0%** <br>**(Cost: $17,143,589)** | **Total Fixed Rate Loan Interests — 3.0%** <br>**(Cost: $17,143,589)** | &nbsp;&nbsp; 17440900 |
| **Floating Rate Loan Interests**<sup>(a)</sup> | **Floating Rate Loan Interests**<sup>(a)</sup> | **Floating Rate Loan Interests**<sup>(a)</sup> | **Floating Rate Loan Interests**<sup>(a)</sup> |
| **Advertising Agencies — 1.3%** | **Advertising Agencies — 1.3%** | **Advertising Agencies — 1.3%** | **Advertising Agencies — 1.3%** |
| &nbsp;&nbsp;&nbsp; Clear Channel Outdoor Holdings, Inc., 2024 Term Loan, <br> (1-mo. CME Term SOFR at 0.00% Floor + 4.11%), <br> 8.28%, 08/23/28<br>|  | 30 | &nbsp;&nbsp; 30476 |
| &nbsp;&nbsp;&nbsp; Outfront Media Capital LLC, 2025 Term Loan B, 0.00%, <br> 09/24/32<br>|  | 38 | &nbsp;&nbsp; 37976 |
| &nbsp;&nbsp;&nbsp; Planet U.S. Buyer LLC, 2024 Term Loan B, (3-mo. CME <br> Term SOFR + 3.00%), 7.20%, 02/07/31<br>|  | 22 | &nbsp;&nbsp; 21914 |
| Research Now Group, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 First Lien First Out Term Loan, (3-mo. CME Term <br> SOFR at 1.00% Floor + 5.26%), 9.46%, 07/15/28<br>|  | 2763 | &nbsp;&nbsp; 2750887 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 First Lien Second Out Term Loan, (3-mo. CME <br> Term SOFR at 1.00% Floor + 5.76%), 9.96%, <br> 10/15/28<br>|  | 5708 | &nbsp;&nbsp; 4646954 |
| &nbsp;&nbsp;&nbsp; Summer BC Holdco B SARL, 2024 USD Term Loan B, <br> (3-mo. CME Term SOFR at 0.00% Floor + 5.26%), <br> 9.26%, 02/15/29<br>|  | 14 | &nbsp;&nbsp; 13674 |
|  |  |  | &nbsp;&nbsp; 7501881 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Aerospace & Defense — 1.6%** | **Aerospace & Defense — 1.6%** | **Aerospace & Defense — 1.6%** | **Aerospace & Defense — 1.6%** |
| Aras Corp.<sup>(e)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Revolver, (3-mo. CME Term SOFR at 1.00% Floor + <br> 5.00%), 9.00%, 04/27/27<br>| USD | 438 | &nbsp;&nbsp; $438478 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan, (3-mo. CME Term SOFR at 1.00% Floor + <br> 5.00%), 9.00%, 04/13/29<br>|  | 3574 | &nbsp;&nbsp; 3602917 |
| &nbsp;&nbsp;&nbsp; Bleriot U.S. Bidco, Inc., 2023 Term Loan B, (3-mo. CME <br> Term SOFR at 0.00% Floor + 2.50%), 6.50%, <br> 10/31/30<br>|  | 54 | &nbsp;&nbsp; 54272 |
| &nbsp;&nbsp;&nbsp; Cobham Ultra SeniorCo SARL, USD Term Loan B, (6-<br> mo. CME Term SOFR + 4.18%), 8.37%, 08/03/29<br>|  | 57 | &nbsp;&nbsp; 56544 |
| Dynasty Acquisition Co., Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 1st Lien Term Loan B1, (1-mo. CME Term SOFR <br> at 0.00% Floor + 2.00%), 6.16%, 10/31/31<br>|  | 114 | &nbsp;&nbsp; 113761 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 1st Lien Term Loan B2, (1-mo. CME Term SOFR <br> at 0.00% Floor + 2.00%), 6.16%, 10/31/31<br>|  | 43 | &nbsp;&nbsp; 43279 |
| &nbsp;&nbsp;&nbsp; Engineering Research and Consulting LLC, 2024 Term <br> Loan, (6-mo. CME Term SOFR at 0.00% Floor + <br> 5.00%), 9.29%, 08/29/31<sup>(e)</sup><br>|  | 4963 | &nbsp;&nbsp; 4788812 |
| &nbsp;&nbsp;&nbsp; Goat Holdco LLC, 2025 Term Loan B, (1-mo. CME Term <br> SOFR at 0.00% Floor + 2.75%), 6.91%, 01/27/32<br>|  | 26 | &nbsp;&nbsp; 25884 |
| Kaman Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Delayed Draw Term Loan, (3-mo. CME Term <br> SOFR at 0.50% Floor + 2.50%), 6.83%, 02/26/32<br>|  | — <br><sup>(n)</sup><br>| &nbsp;&nbsp; 283 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, (3-mo. CME Term SOFR at 0.50% <br> Floor + 2.50%), 6.66%, 02/26/32<br>|  | 32 | &nbsp;&nbsp; 32055 |
| &nbsp;&nbsp;&nbsp; Propulsion BC Finco SARL, 2025 Term Loan B, (3-mo. <br> CME Term SOFR at 0.50% Floor + 2.75%), 7.04%, <br> 09/14/29<br>|  | 11 | &nbsp;&nbsp; 10867 |
| &nbsp;&nbsp;&nbsp; Skydio, Inc., Term Loan, (1-mo. CME Term SOFR at <br> 0.00% Floor + 2.75%, 2.75% PIK), 9.75%, <br> 12/04/29<sup>(e)(h)</sup><br>|  | 51 | &nbsp;&nbsp; 50581 |
| TransDigm, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 Term Loan J, (3-mo. CME Term SOFR at 0.00% <br> Floor + 2.50%), 6.50%, 02/28/31<br>|  | 243 | &nbsp;&nbsp; 242742 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan L, (3-mo. CME Term SOFR at 0.00% <br> Floor + 2.50%), 6.50%, 01/19/32<br>|  | 87 | &nbsp;&nbsp; 87060 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan K, (3-mo. CME Term SOFR at 0.00% <br> Floor + 2.25%), 6.25%, 03/22/30<br>|  | 13 | &nbsp;&nbsp; 12820 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan M, (1-mo. CME Term SOFR at 0.00% <br> Floor + 2.50%), 6.66%, 08/19/32<br>|  | 151 | &nbsp;&nbsp; 150807 |
|  |  |  | &nbsp;&nbsp; 9711162 |
| **Air Freight & Logistics — 0.0%** | **Air Freight & Logistics — 0.0%** | **Air Freight & Logistics — 0.0%** | **Air Freight & Logistics — 0.0%** |
| &nbsp;&nbsp;&nbsp; Rand Parent LLC, 2025 Term Loan B, (3-mo. CME Term <br> SOFR at 0.00% Floor + 3.00%), 7.00%, 03/18/30<br>|  | 62 | &nbsp;&nbsp; 61203 |
| &nbsp;&nbsp;&nbsp; Stonepeak Nile Parent LLC, 2025 Term Loan B, <br> 04/09/32<sup>(o)</sup><br>|  | 25 | &nbsp;&nbsp; 24969 |
|  |  |  | &nbsp;&nbsp; 86172 |
| **Automobile Components — 0.2%** | **Automobile Components — 0.2%** | **Automobile Components — 0.2%** | **Automobile Components — 0.2%** |
| &nbsp;&nbsp;&nbsp; Arrow Purchaser, Inc., Revolver, (3-mo. CME Term <br> SOFR + 6.75%), 11.01%, 04/15/26<sup>(e)</sup><br>|  | 51 | &nbsp;&nbsp; 51169 |
| Clarios Global LP |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 USD Term Loan B, (1-mo. CME Term SOFR + <br> 2.50%), 6.66%, 05/06/30<br>|  | 164 | &nbsp;&nbsp; 163299 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 USD Term Loan B, (1-mo. CME Term SOFR at <br> 0.00% Floor + 2.75%), 6.91%, 01/28/32<br>|  | 79 | &nbsp;&nbsp; 78976 |
| &nbsp;&nbsp;&nbsp; Emerald Electronics Manufacturing Services, Term Loan, <br> (3-mo. CME Term SOFR at 1.00% Floor + 6.40%), <br> 10.60%, 12/29/27<sup>(e)</sup><br>|  | 1352 | &nbsp;&nbsp; 932935 |

---

------

Consolidated Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Credit Strategies Fund**

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

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Automobile Components (continued)** | **Automobile Components (continued)** | **Automobile Components (continued)** | **Automobile Components (continued)** |
| &nbsp;&nbsp;&nbsp; Garrett LX I SARL, 2025 USD Term Loan B, (3-mo. CME <br> Term SOFR at 0.50% Floor + 2.00%), 6.31%, <br> 01/30/32<br>| USD | 5 | &nbsp;&nbsp; $4963 |
| &nbsp;&nbsp;&nbsp; RealTruck Group, Inc., 2023 Incremental Term Loan, <br> (1-mo. CME Term SOFR + 5.11%), 9.28%, 01/31/28<br>|  | 21 | &nbsp;&nbsp; 19356 |
| &nbsp;&nbsp;&nbsp; Tenneco, Inc., 2022 Term Loan B, (3-mo. CME Term <br> SOFR + 5.10%), 9.30%, 11/17/28<br>|  | 74 | &nbsp;&nbsp; 72312 |
|  |  |  | &nbsp;&nbsp; 1323010 |
| **Automobiles — 0.1%** | **Automobiles — 0.1%** | **Automobiles — 0.1%** | **Automobiles — 0.1%** |
| &nbsp;&nbsp;&nbsp; Arrow Purchaser, Inc., Term Loan, (3-mo. CME Term <br> SOFR at 1.00% Floor + 6.75%), 11.01%, 04/15/26<sup>(e)</sup><br>|  | 833 | &nbsp;&nbsp; 833331 |
| **Banks — 0.1%** | **Banks — 0.1%** | **Banks — 0.1%** | **Banks — 0.1%** |
| &nbsp;&nbsp;&nbsp; Security Services Acquisition Sub Corp., 2024 11th <br> Amendment Term Loan A, (1-mo. CME Term SOFR at <br> 1.00% Floor + 5.75%), 10.01%, 09/30/27<sup>(e)</sup><br>|  | 517 | &nbsp;&nbsp; 512268 |
| **Beverages — 0.1%** | **Beverages — 0.1%** | **Beverages — 0.1%** | **Beverages — 0.1%** |
| &nbsp;&nbsp;&nbsp; JP Intermediate B LLC, 2025 Takeback Term Loan A, <br> 11/20/27<sup>(d)(m)(o)</sup><br>|  | 578 | &nbsp;&nbsp; 575038 |
| Naked Juice LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 FLFO Term Loan, (3-mo. CME Term SOFR at <br> 1.00% Floor + 5.50%), 9.50%, 01/24/29<br>|  | 103 | &nbsp;&nbsp; 103411 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 FLSO Term Loan, (3-mo. CME Term SOFR at <br> 0.50% Floor + 3.35%), 7.35%, 01/24/29<br>|  | 39 | &nbsp;&nbsp; 29713 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 FLTO Term Loan, (3-mo. CME Term SOFR at <br> 0.50% Floor + 6.10%), 10.10%, 01/24/30<br>|  | 27 | &nbsp;&nbsp; 11081 |
| &nbsp;&nbsp;&nbsp; Primo Brands Corp., 2025 Term Loan B, (3-mo. CME <br> Term SOFR at 0.50% Floor + 2.25%), 6.25%, <br> 03/31/28<br>|  | 43 | &nbsp;&nbsp; 42609 |
| &nbsp;&nbsp;&nbsp; Sazerac Co., Inc., Term Loan B, (1-mo. CME Term SOFR <br> at 0.00% Floor + 2.50%), 6.70%, 07/09/32<br>|  | 52 | &nbsp;&nbsp; 52289 |
|  |  |  | &nbsp;&nbsp; 814141 |
| **Building Products — 2.2%** | **Building Products — 2.2%** | **Building Products — 2.2%** | **Building Products — 2.2%** |
| &nbsp;&nbsp;&nbsp; AHF Parent Holding, Inc., Term Loan, (3-mo. CME Term <br> SOFR at 0.75% Floor + 6.25%), 10.51%, 02/01/28<br>|  | 1727 | &nbsp;&nbsp; 1574865 |
| &nbsp;&nbsp;&nbsp; Alpine Holding Corp., Term Loan, (3-mo. CME Term <br> SOFR at 1.00% Floor + 6.00%), 10.00%, 08/01/30<sup>(e)</sup><br>|  | 3971 | &nbsp;&nbsp; 3994585 |
| &nbsp;&nbsp;&nbsp; Chariot Buyer LLC, 2025 Term Loan B, (1-mo. CME Term <br> SOFR at 0.00% Floor + 3.00%), 7.16%, 09/08/32<br>|  | 197 | &nbsp;&nbsp; 196625 |
| &nbsp;&nbsp;&nbsp; CP Atlas Buyer, Inc., 2025 Term Loan, (1-mo. CME Term <br> SOFR at 0.00% Floor + 5.25%), 9.41%, 07/08/30<br>|  | 50 | &nbsp;&nbsp; 48875 |
| &nbsp;&nbsp;&nbsp; CP Iris Holdco I, Inc., 2021 Term Loan, (1-mo. CME Term <br> SOFR + 3.50%), 7.66%, 10/02/28<br>|  | 62 | &nbsp;&nbsp; 62281 |
| EMRLD Borrower LP |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, (6-mo. CME Term SOFR at 0.00% <br> Floor + 2.25%), 6.12%, 08/04/31<br>|  | 84 | &nbsp;&nbsp; 84044 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, (3-mo. CME Term SOFR at 0.00% Floor <br> + 2.25%), 6.45%, 05/31/30<br>|  | 149 | &nbsp;&nbsp; 148465 |
| &nbsp;&nbsp;&nbsp; Foundation Building Materials, Inc., 2024 Term Loan B2, <br> (3-mo. CME Term SOFR at 0.00% Floor + 4.00%), <br> 8.31%, 01/29/31<br>|  | 112 | &nbsp;&nbsp; 112547 |
| &nbsp;&nbsp;&nbsp; Gulfside Supply, Inc., Term Loan B, (3-mo. CME Term <br> SOFR at 0.00% Floor + 3.00%), 7.00%, 06/17/31<br>|  | 24 | &nbsp;&nbsp; 24078 |
| &nbsp;&nbsp;&nbsp; HP PHRG Borrower LLC, 2025 Term Loan B, (3-mo. <br> CME Term SOFR at 0.00% Floor + 4.00%), 8.00%, <br> 02/20/32<br>|  | 4988 | &nbsp;&nbsp; 4968797 |
| &nbsp;&nbsp;&nbsp; New AMI I LLC, 2022 Term Loan B, (1-mo. CME Term <br> SOFR at 0.50% Floor + 6.00%), 10.16%, 03/08/29<br>|  | 18 | &nbsp;&nbsp; 16657 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Building Products (continued)** | **Building Products (continued)** | **Building Products (continued)** | **Building Products (continued)** |
| &nbsp;&nbsp;&nbsp; Porcelain Acquisition Corp., Term Loan, (1-mo. CME <br> Term SOFR at 1.00% Floor + 6.00%), 10.26%, <br> 04/30/27<sup>(e)</sup><br>| USD | 1207 | &nbsp;&nbsp; $878464 |
| &nbsp;&nbsp;&nbsp; Potters Borrower LP, 2025 Repriced Term Loan B, (1-mo. <br> CME Term SOFR at 0.75% Floor + 3.00%), 7.16%, <br> 12/14/27<br>|  | 23 | &nbsp;&nbsp; 22708 |
| Quikrete Holdings, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B1, (1-mo. CME Term SOFR + <br> 2.25%), 6.41%, 03/19/29<br>|  | 64 | &nbsp;&nbsp; 64202 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, (1-mo. CME Term SOFR at 0.00% <br> Floor + 2.25%), 6.41%, 02/10/32<br>|  | 35 | &nbsp;&nbsp; 34801 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B1, (1-mo. CME Term SOFR at <br> 0.00% Floor + 2.25%), 6.41%, 04/14/31<br>|  | 91 | &nbsp;&nbsp; 90983 |
| &nbsp;&nbsp;&nbsp; QXO, Inc., Term Loan B, (1-mo. CME Term SOFR at <br> 0.00% Floor + 3.00%), 7.16%, 04/30/32<br>|  | 23 | &nbsp;&nbsp; 22839 |
| &nbsp;&nbsp;&nbsp; Standard Industries, Inc., 2021 Term Loan B, (1-mo. <br> CME Term SOFR + 1.75%), 5.89%, 09/22/28<br>|  | 20 | &nbsp;&nbsp; 20052 |
| &nbsp;&nbsp;&nbsp; White Cap Supply Holdings LLC, 2024 Term Loan B, <br> (1-mo. CME Term SOFR at 0.00% Floor + 3.25%), <br> 7.42%, 10/19/29<br>|  | 195 | &nbsp;&nbsp; 195001 |
| &nbsp;&nbsp;&nbsp; Wilsonart LLC, 2024 Term Loan B, (3-mo. CME Term <br> SOFR at 0.00% Floor + 4.25%), 8.25%, 08/05/31<br>|  | 154 | &nbsp;&nbsp; 148224 |
| &nbsp;&nbsp;&nbsp; Zurn LLC, 2021 Term Loan B, (1-mo. CME Term SOFR + <br> 2.11%), 6.28%, 10/04/28<br>|  | 20 | &nbsp;&nbsp; 20384 |
|  |  |  | &nbsp;&nbsp; 12729477 |
| **Capital Markets — 1.4%** | **Capital Markets — 1.4%** | **Capital Markets — 1.4%** | **Capital Markets — 1.4%** |
| &nbsp;&nbsp;&nbsp; Acuren Delaware Holdco, Inc., 2025 Term Loan, (1-mo. <br> CME Term SOFR at 0.00% Floor + 2.75%), 6.91%, <br> 07/30/31<br>|  | 20 | &nbsp;&nbsp; 19965 |
| &nbsp;&nbsp;&nbsp; Allspring Buyer LLC, 2024 Term Loan B, (3-mo. CME <br> Term SOFR at 0.00% Floor + 2.75%), 6.75%, <br> 11/01/30<br>|  | 28 | &nbsp;&nbsp; 28035 |
| &nbsp;&nbsp;&nbsp; AqGen Island Holdings, Inc., 2024 Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 3.00%), 7.16%, <br> 08/02/28<br>|  | 93 | &nbsp;&nbsp; 92749 |
| &nbsp;&nbsp;&nbsp; Aretec Group, Inc., 2024 1st Lien Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 3.50%), 7.66%, <br> 08/09/30<br>|  | 30 | &nbsp;&nbsp; 30470 |
| Astra Acquisition Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 2nd Lien Term Loan, (Defaulted), 0.00%, <br> 10/25/29<sup>(d)(e)(m)</sup><br>|  | 4702 | &nbsp;&nbsp; 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 New Money Term Loan A, (Defaulted), 0.00%, <br> 02/25/28<sup>(d)(m)</sup><br>|  | 1174 | &nbsp;&nbsp; 230403 |
| &nbsp;&nbsp;&nbsp; 2024 Term Loan B, (Defaulted), 0.00%, 10/25/28 |  | 3791 | &nbsp;&nbsp; 9478 |
| &nbsp;&nbsp;&nbsp; Citadel Securities LP, 2024 First Lien Term Loan, (1-mo. <br> CME Term SOFR at 0.00% Floor + 2.00%), 6.16%, <br> 10/31/31<br>|  | 70 | &nbsp;&nbsp; 69594 |
| &nbsp;&nbsp;&nbsp; Edelman Financial Engines Center LLC, 2024 Term <br> Loan, (1-mo. CME Term SOFR at 0.00% Floor + <br> 3.00%), 7.16%, 04/07/28<br>|  | 68 | &nbsp;&nbsp; 67509 |
| &nbsp;&nbsp;&nbsp; Focus Financial Partners LLC, 2025 Incremental Term <br> Loan B, (1-mo. CME Term SOFR at 0.00% Floor + <br> 2.75%), 6.91%, 09/15/31<br>|  | 71 | &nbsp;&nbsp; 71431 |
| &nbsp;&nbsp;&nbsp; GC Champion Acquisition LLC, 1st Lien Term Loan, (6-<br> mo. CME Term SOFR at 1.00% Floor + 5.00%), <br> 9.21%, 08/21/28<sup>(e)</sup><br>|  | 2999 | &nbsp;&nbsp; 2974366 |
| &nbsp;&nbsp;&nbsp; Gryphon Acquire NewCo LLC, Term Loan B, (6-mo. CME <br> Term SOFR at 0.00% Floor + 3.00%), 6.88%, <br> 09/13/32<br>|  | 39 | &nbsp;&nbsp; 39085 |

---

Consolidated Schedule of Investments

------

Consolidated Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Credit Strategies Fund**

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

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Capital Markets (continued)** | **Capital Markets (continued)** | **Capital Markets (continued)** | **Capital Markets (continued)** |
| &nbsp;&nbsp;&nbsp; GTCR Everest Borrower LLC, Add on Term Loan B, (3-<br> mo. CME Term SOFR at 0.00% Floor + 2.75%), <br> 6.75%, 09/05/31<br>| USD | 24 | &nbsp;&nbsp; $23938 |
| &nbsp;&nbsp;&nbsp; Guardian U.S. Holdco LLC, 2023 Term Loan B, (3-mo. <br> CME Term SOFR at 0.50% Floor + 3.50%), 7.50%, <br> 01/31/30<br>|  | 15 | &nbsp;&nbsp; 14883 |
| &nbsp;&nbsp;&nbsp; Jane Street Group LLC, 2024 Term Loan B1, (3-mo. <br> CME Term SOFR at 0.00% Floor + 2.00%), 6.20%, <br> 12/15/31<br>|  | 110 | &nbsp;&nbsp; 109139 |
| &nbsp;&nbsp;&nbsp; Osaic Holdings, Inc., 2025 Term Loan, (1-mo. CME Term <br> SOFR at 0.00% Floor + 3.00%), 7.16%, 07/30/32<br>|  | 100 | &nbsp;&nbsp; 99926 |
| Pico Quantitative Trading Holdings LLC<sup>(e)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan, (3-mo. CME Term SOFR at 1.50% <br> Floor + 7.25%), 11.82%, 02/08/27<br>|  | 404 | &nbsp;&nbsp; 404055 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 10th Amendment Term Loan, (3-mo. CME Term <br> SOFR at 1.50% Floor + 7.25%), 11.71%, 02/08/27<br>|  | 3344 | &nbsp;&nbsp; 3343507 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan, (3-mo. CME Term SOFR at 1.50% Floor + <br> 7.25%), 11.83%, 02/08/27<br>|  | 439 | &nbsp;&nbsp; 441095 |
| &nbsp;&nbsp;&nbsp; Rialto Management Group LLC, 2024 Term Loan, (1-mo. <br> CME Term SOFR at 0.75% Floor + 5.00%), 9.16%, <br> 12/05/30<sup>(e)</sup><br>|  | 46 | &nbsp;&nbsp; 46669 |
| &nbsp;&nbsp;&nbsp; Summit Acquisition, Inc., 2025 Add-on Term Loan, (1-mo. <br> CME Term SOFR at 0.00% Floor + 3.50%), 7.66%, <br> 10/16/31<br>|  | 8 | &nbsp;&nbsp; 8023 |
|  |  |  | &nbsp;&nbsp; 8124321 |
| **Chemicals — 0.2%** | **Chemicals — 0.2%** | **Chemicals — 0.2%** | **Chemicals — 0.2%** |
| &nbsp;&nbsp;&nbsp; Axalta Coating Systems U.S. Holdings, Inc., 2024 Term <br> Loan B7, (3-mo. CME Term SOFR at 0.50% Floor + <br> 1.75%), 5.75%, 12/20/29<br>|  | 75 | &nbsp;&nbsp; 75336 |
| &nbsp;&nbsp;&nbsp; Chemours Co., 2023 USD Term Loan B, (1-mo. CME <br> Term SOFR + 3.00%), 7.16%, 08/18/28<br>|  | 30 | &nbsp;&nbsp; 30006 |
| &nbsp;&nbsp;&nbsp; Derby Buyer LLC, 2024 Repriced Term Loan B, (1-mo. <br> CME Term SOFR at 0.50% Floor + 3.00%), 7.18%, <br> 11/01/30<br>|  | 76 | &nbsp;&nbsp; 75813 |
| &nbsp;&nbsp;&nbsp; Discovery Purchaser Corp., Term Loan, (3-mo. CME <br> Term SOFR at 0.50% Floor + 3.75%), 8.08%, <br> 10/04/29<br>|  | 7 | &nbsp;&nbsp; 6890 |
| &nbsp;&nbsp;&nbsp; Ecovyst Catalyst Technologies LLC, 2024 Term Loan B, <br> (3-mo. CME Term SOFR at 0.00% Floor + 2.00%), <br> 6.31%, 06/12/31<br>|  | 61 | &nbsp;&nbsp; 60465 |
| &nbsp;&nbsp;&nbsp; Element Solutions, Inc., 2023 Term Loan B, (1-mo. CME <br> Term SOFR + 1.75%), 5.91%, 12/18/30<br>|  | 70 | &nbsp;&nbsp; 70578 |
| &nbsp;&nbsp;&nbsp; Fortis 333, Inc., USD Term Loan B, (3-mo. CME Term <br> SOFR at 0.00% Floor + 3.50%), 7.50%, 03/29/32<br>|  | 28 | &nbsp;&nbsp; 27744 |
| &nbsp;&nbsp;&nbsp; HB Fuller Co., 2025 Term Loan B, (1-mo. CME Term <br> SOFR at 0.50% Floor + 1.75%), 5.91%, 02/15/30<br>|  | 45 | &nbsp;&nbsp; 45336 |
| &nbsp;&nbsp;&nbsp; INEOS U.S. Finance LLC, 2023 USD Term Loan B, (1-<br> mo. CME Term SOFR at 0.00% Floor + 3.25%), <br> 7.41%, 02/18/30<br>|  | 29 | &nbsp;&nbsp; 26603 |
| &nbsp;&nbsp;&nbsp; INEOS U.S. Petrochem LLC, 2024 USD Term Loan B, <br> (1-mo. CME Term SOFR at 0.00% Floor + 4.25%), <br> 8.41%, 10/07/31<br>|  | 25 | &nbsp;&nbsp; 21310 |
| &nbsp;&nbsp;&nbsp; Lonza Group AG, USD Term Loan B, (3-mo. CME Term <br> SOFR at 0.75% Floor + 4.03%), 8.03%, 07/03/28<br>|  | 84 | &nbsp;&nbsp; 75341 |
| &nbsp;&nbsp;&nbsp; Minerals Technologies, Inc., 2024 Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 2.00%), 6.16%, <br> 11/26/31<sup>(e)</sup><br>|  | 60 | &nbsp;&nbsp; 59550 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Chemicals (continued)** | **Chemicals (continued)** | **Chemicals (continued)** | **Chemicals (continued)** |
| &nbsp;&nbsp;&nbsp; Momentive Performance Materials, Inc., 2023 Term <br> Loan, (1-mo. CME Term SOFR + 4.00%), 8.16%, <br> 03/29/28<br>| USD | 67 | &nbsp;&nbsp; $67651 |
| &nbsp;&nbsp;&nbsp; Nouryon Finance BV, 2024 USD Term Loan B1, (1-mo. <br> CME Term SOFR at 0.00% Floor + 3.25%), 7.50%, <br> 04/03/28<br>|  | 58 | &nbsp;&nbsp; 57668 |
| Olympus Water U.S. Holding Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 USD Term Loan, (3-mo. CME Term SOFR at <br> 0.50% Floor + 3.00%), 7.00%, 06/20/31<br>|  | 109 | &nbsp;&nbsp; 107718 |
| &nbsp;&nbsp;&nbsp; 2025 USD Term Loan B, 0.00%, 07/23/32 |  | 77 | &nbsp;&nbsp; 76368 |
| &nbsp;&nbsp;&nbsp; Oxea Holding Drei GmbH, 2017 USD Term Loan B2, <br> (3-mo. CME Term SOFR at 0.00% Floor + 4.35%), <br> 8.64%, 04/08/31<br>|  | 73 | &nbsp;&nbsp; 67080 |
| &nbsp;&nbsp;&nbsp; Paint Intermediate III LLC, 2024 Term Loan B, (3-mo. <br> CME Term SOFR at 0.00% Floor + 3.00%), 7.24%, <br> 10/09/31<br>|  | 24 | &nbsp;&nbsp; 23820 |
| Qnity Electronics, Inc., Term Loan B, 08/12/32<sup>(o)</sup> |  | 82 | &nbsp;&nbsp; 81898 |
| &nbsp;&nbsp;&nbsp; Solstice Advanced Materials, Inc., Term Loan B, <br> 09/17/32<sup>(o)</sup><br>|  | 43 | &nbsp;&nbsp; 43027 |
| &nbsp;&nbsp;&nbsp; Sparta U.S. HoldCo LLC, 2024 Term Loan B, (1-mo. <br> CME Term SOFR at 0.75% Floor + 3.00%), 7.28%, <br> 08/02/30<br>|  | 95 | &nbsp;&nbsp; 93965 |
| &nbsp;&nbsp;&nbsp; WR Grace Holdings LLC, 2025 Term Loan B, (3-mo. <br> CME Term SOFR at 0.50% Floor + 3.00%), 7.00%, <br> 08/19/32<br>|  | 40 | &nbsp;&nbsp; 40067 |
|  |  |  | &nbsp;&nbsp; 1234234 |
| **Commercial Services & Supplies — 1.5%** | **Commercial Services & Supplies — 1.5%** | **Commercial Services & Supplies — 1.5%** | **Commercial Services & Supplies — 1.5%** |
| &nbsp;&nbsp;&nbsp; Aggreko Holdings, Inc., 2025 USD Term Loan, (3-mo. <br> CME Term SOFR at 0.50% Floor + 3.00%), 7.21%, <br> 05/21/31<br>|  | 97 | &nbsp;&nbsp; 97459 |
| &nbsp;&nbsp;&nbsp; AlixPartners LLP, 2025 USD Term Loan, (1-mo. CME <br> Term SOFR at 0.00% Floor + 2.00%), 6.16%, <br> 08/12/32<br>|  | 127 | &nbsp;&nbsp; 126150 |
| &nbsp;&nbsp;&nbsp; Allied Universal Holdco LLC, 2025 USD Term Loan B, <br> (1-mo. CME Term SOFR at 0.00% Floor + 3.35%), <br> 7.51%, 08/20/32<br>|  | 249 | &nbsp;&nbsp; 249941 |
| &nbsp;&nbsp;&nbsp; Belron Finance LLC, 2025 Repriced Term Loan B, (3-mo. <br> CME Term SOFR at 0.50% Floor + 2.50%), 6.74%, <br> 10/16/31<br>|  | 172 | &nbsp;&nbsp; 173040 |
| &nbsp;&nbsp;&nbsp; Bright Horizons Family Solutions LLC, 2025 Term Loan <br> B, (1-mo. CME Term SOFR at 0.50% Floor + 1.75%), <br> 5.91%, 08/23/32<br>|  | 62 | &nbsp;&nbsp; 61890 |
| &nbsp;&nbsp;&nbsp; Champions Financing, Inc., 2024 Term Loan B, (3-mo. <br> CME Term SOFR at 0.00% Floor + 4.75%), 8.95%, <br> 02/23/29<br>|  | 8 | &nbsp;&nbsp; 7463 |
| &nbsp;&nbsp;&nbsp; CHG Healthcare Services, Inc., 2025 Term Loan B1, <br> (3-mo. CME Term SOFR at 0.50% Floor + 2.75%), <br> 7.05%, 09/29/28<br>|  | 55 | &nbsp;&nbsp; 54965 |
| &nbsp;&nbsp;&nbsp; Creative Artists Agency LLC, 2025 Repriced Term Loan <br> B, (1-mo. CME Term SOFR at 0.00% Floor + 2.50%), <br> 6.66%, 10/01/31<br>|  | 163 | &nbsp;&nbsp; 163549 |
| &nbsp;&nbsp;&nbsp; Ensemble RCM LLC, 2024 Term Loan B, (3-mo. CME <br> Term SOFR at 0.00% Floor + 3.00%), 7.31%, <br> 08/01/29<br>|  | 74 | &nbsp;&nbsp; 74629 |
| &nbsp;&nbsp;&nbsp; Fusion Holding Corp., Term Loan, (3-mo. CME Term <br> SOFR at 0.75% Floor + 6.25%), 10.25%, 09/14/29<sup>(e)</sup><br>|  | 225 | &nbsp;&nbsp; 219653 |
| &nbsp;&nbsp;&nbsp; Galaxy U.S. Opco, Inc., Term Loan, (3-mo. CME Term <br> SOFR + 2.00%, 3.75% PIK), 10.06%, 07/31/30<sup>(h)</sup><br>|  | 30 | &nbsp;&nbsp; 26815 |

---

------

Consolidated Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Credit Strategies Fund**

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

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Commercial Services & Supplies (continued)** | **Commercial Services & Supplies (continued)** | **Commercial Services & Supplies (continued)** | **Commercial Services & Supplies (continued)** |
| &nbsp;&nbsp;&nbsp; Garda World Security Corp., 2025 Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 3.00%), 7.17%, <br> 02/01/29<br>| USD | 98 | &nbsp;&nbsp; $97737 |
| &nbsp;&nbsp;&nbsp; Grant Thornton Advisors LLC, 2025 Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 2.50%), 6.66%, <br> 06/02/31<br>|  | 23 | &nbsp;&nbsp; 22480 |
| &nbsp;&nbsp;&nbsp; Herc Holdings, Inc., Term Loan B, (1-mo. CME Term <br> SOFR at 0.00% Floor + 2.00%), 6.25%, 06/02/32<br>|  | 15 | &nbsp;&nbsp; 15056 |
| Hertz Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan B, (3-mo. CME Term SOFR + <br> 3.76%), 8.07%, 06/30/28<br>|  | 54 | &nbsp;&nbsp; 48594 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan C, (3-mo. CME Term SOFR + <br> 3.76%), 8.07%, 06/30/28<br>|  | 11 | &nbsp;&nbsp; 9565 |
| &nbsp;&nbsp;&nbsp; Kellermeyer Bergensons Services LLC, <br> 2024 Amendment No. 8 Term Loan, (3-mo. CME Term <br> SOFR at 1.00% Floor + 1.75%, 3.50% PIK), 9.71%, <br> 11/06/28<sup>(e)(h)</sup><br>|  | 374 | &nbsp;&nbsp; 374420 |
| &nbsp;&nbsp;&nbsp; KUEHG Corp., 2025 Term Loan, (3-mo. CME Term <br> SOFR at 0.50% Floor + 2.75%), 6.75%, 06/12/30<br>|  | 21 | &nbsp;&nbsp; 21216 |
| &nbsp;&nbsp;&nbsp; Learning Care Group U.S. No. 2, Inc., 2024 Term Loan <br> B, (3-mo. CME Term SOFR + 4.00%), 8.29%, <br> 08/11/28<sup>(e)</sup><br>|  | 10 | &nbsp;&nbsp; 9605 |
| &nbsp;&nbsp;&nbsp; Mavis Tire Express Services Topco Corp., 2025 Repriced <br> Term Loan, (3-mo. CME Term SOFR at 0.75% Floor + <br> 3.00%), 7.20%, 05/04/28<br>|  | 156 | &nbsp;&nbsp; 155912 |
| Prime Security Services Borrower LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 1st Lien Term Loan B, (6-mo. CME Term SOFR <br> at 0.00% Floor + 2.00%), 6.13%, 10/13/30<br>|  | 38 | &nbsp;&nbsp; 38396 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Incremental Term Loan B, (1-mo. CME Term <br> SOFR at 0.00% Floor + 1.75%), 6.00%, 03/07/32<br>|  | 85 | &nbsp;&nbsp; 83790 |
| Pueblo Mechanical and Controls LLC<sup>(e)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 Delayed Draw Term Loan, (3-mo. CME Term <br> SOFR at 0.75% Floor + 5.00%), 9.00%, 08/23/28<br>|  | 488 | &nbsp;&nbsp; 482426 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 Term Loan, (3-mo. CME Term SOFR at 0.75% <br> Floor + 5.00%), 9.00%, 08/23/28<br>|  | 703 | &nbsp;&nbsp; 695486 |
| Razor Group GmbH<sup>(e)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Tranche Term Loan 2 A, (3-mo. CME Term <br> SOFR at 2.50% Floor + 5.00%), 9.20%, 12/20/29<br>|  | 210 | &nbsp;&nbsp; 210601 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Tranche Term Loan 2 B, (3-mo. CME Term <br> SOFR at 2.50% Floor + 5.00%), 9.00%, 12/20/29<br>|  | 93 | &nbsp;&nbsp; 92684 |
| &nbsp;&nbsp;&nbsp; Ryan LLC, Term Loan, (1-mo. CME Term SOFR at 0.50% <br> Floor + 3.50%), 7.66%, 11/14/30<br>|  | 5 | &nbsp;&nbsp; 4931 |
| &nbsp;&nbsp;&nbsp; Thermostat Purchaser III, Inc., 2nd Lien Term Loan, (3-<br> mo. CME Term SOFR at 0.75% Floor + 7.25%), <br> 11.60%, 08/31/29<sup>(e)</sup><br>|  | 1388 | &nbsp;&nbsp; 1387806 |
| &nbsp;&nbsp;&nbsp; Thunder Purchaser, Inc., 2024 Incremental Term Loan, <br> (3-mo. CME Term SOFR at 1.00% Floor + 5.25%), <br> 9.40%, 06/30/28<sup>(e)</sup><br>|  | 386 | &nbsp;&nbsp; 382467 |
| &nbsp;&nbsp;&nbsp; Topsail Debtco LLC, Term Loan, (3-mo. CME Term SOFR <br> at 1.00% Floor + 6.00%), 10.00%, 12/27/30<sup>(e)</sup><br>|  | 97 | &nbsp;&nbsp; 96427 |
| &nbsp;&nbsp;&nbsp; TouchTunes Music Group LLC, 2024 Incremental Term <br> Loan, (3-mo. CME Term SOFR + 4.75%), 8.75%, <br> 04/02/29<br>|  | 3563 | &nbsp;&nbsp; 3503222 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Commercial Services & Supplies (continued)** | **Commercial Services & Supplies (continued)** | **Commercial Services & Supplies (continued)** | **Commercial Services & Supplies (continued)** |
| &nbsp;&nbsp;&nbsp; Vortex Opco LLC, Second Out Term Loan, (3-mo. CME <br> Term SOFR at 0.50% Floor + 4.36%), 8.37%, <br> 12/17/28<br>| USD | 44 | &nbsp;&nbsp; $9642 |
| &nbsp;&nbsp;&nbsp; Wand NewCo 3, Inc., 2025 Repriced Term Loan B, (1-<br> mo. CME Term SOFR at 0.00% Floor + 2.50%), <br> 6.66%, 01/30/31<br>|  | 103 | &nbsp;&nbsp; 102483 |
|  |  |  | &nbsp;&nbsp; 9100500 |
| **Communications Equipment — 0.0%** | **Communications Equipment — 0.0%** | **Communications Equipment — 0.0%** | **Communications Equipment — 0.0%** |
| &nbsp;&nbsp;&nbsp; Ciena Corp., 2025 Repriced Term Loan B, (1-mo. CME <br> Term SOFR at 0.00% Floor + 1.75%), 5.89%, <br> 10/24/30<br>|  | 72 | &nbsp;&nbsp; 71713 |
| &nbsp;&nbsp;&nbsp; ORBCOMM, Inc., Term Loan B, (1-mo. CME Term SOFR <br> at 0.75% Floor + 4.51%), 8.62%, 09/01/28<br>|  | 29 | &nbsp;&nbsp; 26280 |
|  |  |  | &nbsp;&nbsp; 97993 |
| **Construction & Engineering — 2.5%** | **Construction & Engineering — 2.5%** | **Construction & Engineering — 2.5%** | **Construction & Engineering — 2.5%** |
| &nbsp;&nbsp;&nbsp; Apple Bidco LLC, 2025 Term Loan, (1-mo. CME Term <br> SOFR at 0.00% Floor + 2.50%), 6.66%, 09/23/31<br>|  | 155 | &nbsp;&nbsp; 154747 |
| &nbsp;&nbsp;&nbsp; Brand Industrial Services, Inc., 2024 Term Loan B, (3-<br> mo. CME Term SOFR at 0.50% Floor + 4.50%), <br> 8.80%, 08/01/30<br>|  | 123 | &nbsp;&nbsp; 111649 |
| &nbsp;&nbsp;&nbsp; Brown Group Holding LLC, 2022 Incremental Term Loan <br> B2, (1-mo. CME Term SOFR at 0.50% Floor + 2.75%), <br> 6.99%, 07/01/31<br>|  | 62 | &nbsp;&nbsp; 62575 |
| &nbsp;&nbsp;&nbsp; Construction Partners, Inc., Term Loan B, (1-mo. CME <br> Term SOFR at 0.00% Floor + 2.50%), 6.66%, <br> 11/03/31<br>|  | 15 | &nbsp;&nbsp; 14920 |
| &nbsp;&nbsp;&nbsp; Cube Industrials Buyer, Inc., 2024 Term Loan, (3-mo. <br> CME Term SOFR at 0.00% Floor + 3.25%), 7.58%, <br> 10/17/31<br>|  | 14 | &nbsp;&nbsp; 13965 |
| Homerenew Buyer, Inc.<sup>(e)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Super Priority Term Loan, (3-mo. CME Term <br> SOFR at 2.50% Floor + 9.50%), 13.88%, 04/14/30<br>|  | 1436 | &nbsp;&nbsp; 1436331 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Super Priority Term Loan 1, (3-mo. CME Term <br> SOFR at 2.00% Floor + 8.00%), 12.38%, 04/14/30<br>|  | 329 | &nbsp;&nbsp; 329470 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan, (3-mo. CME Term SOFR at 2.50% <br> Floor + 6.50%), 10.88%, 04/14/30<br>|  | 758 | &nbsp;&nbsp; 757639 |
| &nbsp;&nbsp;&nbsp; Legence Holdings LLC, 2025 Term Loan B, (1-mo. CME <br> Term SOFR at 0.75% Floor + 3.00%), 7.16%, <br> 12/18/28<br>|  | 10 | &nbsp;&nbsp; 9887 |
| Lighthouse Parent Holdings, Inc.<sup>(e)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Delayed Draw Term Loan, (3-mo. CME Term SOFR at <br> 0.75% Floor + 4.75%), 8.90%, 12/22/31<br>|  | 11 | &nbsp;&nbsp; 10608 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan, (3-mo. CME Term SOFR at 0.75% Floor + <br> 4.75%), 9.07%, 12/22/31<br>|  | 59 | &nbsp;&nbsp; 58428 |
| LJ Avalon Holdings LLC<sup>(e)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 1st Amendment Delayed Draw Term Loan, (3-<br> mo. CME Term SOFR at 1.00% Floor + 4.50%), <br> 8.81%, 02/01/30<br>|  | 783 | &nbsp;&nbsp; 782774 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 3rd Amendment Delayed Draw Term Loan, (3-<br> mo. CME Term SOFR at 1.00% Floor + 4.50%), <br> 8.67%, 02/01/30<br>|  | 83 | &nbsp;&nbsp; 82787 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Delayed Draw Term Loan, (3-mo. CME Term SOFR at <br> 1.00% Floor + 4.50%), 8.67%, 02/01/30<br>|  | 108 | &nbsp;&nbsp; 107677 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan, (1-mo. CME Term SOFR at 1.00% Floor + <br> 4.50%), 8.77%, 02/01/30<br>|  | 280 | &nbsp;&nbsp; 279667 |

---

Consolidated Schedule of Investments

------

Consolidated Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Credit Strategies Fund**

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

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Construction & Engineering (continued)** | **Construction & Engineering (continued)** | **Construction & Engineering (continued)** | **Construction & Engineering (continued)** |
| Playpower, Inc.<sup>(e)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan, (3-mo. CME Term SOFR at 0.75% <br> Floor + 5.25%), 9.25%, 08/28/30<br>| USD | 4300 | &nbsp;&nbsp; $4244100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Incremental Term Loan, (3-mo. CME Term SOFR <br> at 0.75% Floor + 5.25%), 9.25%, 08/28/30<br>|  | 631 | &nbsp;&nbsp; 624981 |
| &nbsp;&nbsp;&nbsp; RBS Buyer, Inc., Term Loan, (3-mo. CME Term SOFR at <br> 1.00% Floor + 5.00%), 9.31%, 07/31/31<sup>(e)</sup><br>|  | 2040 | &nbsp;&nbsp; 2015520 |
| &nbsp;&nbsp;&nbsp; SBA Senior Finance II LLC, 2024 Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 1.75%), 5.92%, <br> 01/25/31<br>|  | 92 | &nbsp;&nbsp; 92396 |
| &nbsp;&nbsp;&nbsp; Titan Home Improvement LLC, Term Loan, (3-mo. CME <br> Term SOFR at 1.00% Floor + 4.75%), 8.95%, <br> 05/31/30<sup>(e)</sup><br>|  | 3693 | &nbsp;&nbsp; 3729954 |
|  |  |  | &nbsp;&nbsp; 14920075 |
| **Construction Materials — 0.0%** | **Construction Materials — 0.0%** | **Construction Materials — 0.0%** | **Construction Materials — 0.0%** |
| &nbsp;&nbsp;&nbsp; Kellermeyer Bergensons Services LLC, 2023 6th <br> Amendment Term Loan, (Defaulted), 0.00%, <br> 11/06/28<sup>(e)</sup><br>|  | 170 | &nbsp;&nbsp; 88881 |
| **Consumer Discretionary — 0.1%** | **Consumer Discretionary — 0.1%** | **Consumer Discretionary — 0.1%** | **Consumer Discretionary — 0.1%** |
| &nbsp;&nbsp;&nbsp; APi Group DE, Inc., 2025 Term Loan, (1-mo. CME Term <br> SOFR at 0.00% Floor + 1.75%), 5.91%, 01/03/29<br>|  | 128 | &nbsp;&nbsp; 128218 |
| &nbsp;&nbsp;&nbsp; Camelot U.S. Acquisition LLC, 2024 Term Loan B, (1-mo. <br> CME Term SOFR + 2.75%), 6.91%, 01/31/31<br>|  | 41 | &nbsp;&nbsp; 40417 |
| &nbsp;&nbsp;&nbsp; Element Materials Technology Group U.S. Holdings, Inc., <br> 2022 USD Term Loan, (3-mo. CME Term SOFR at <br> 0.50% Floor + 3.68%), 7.68%, 07/06/29<br>|  | 31 | &nbsp;&nbsp; 31656 |
| &nbsp;&nbsp;&nbsp; Fleet U.S. Bidco, Inc., 2024 1st Lien Term Loan B, (6-mo. <br> CME Term SOFR at 0.00% Floor + 2.50%), 6.54%, <br> 02/21/31<sup>(e)</sup><br>|  | 18 | &nbsp;&nbsp; 17820 |
| &nbsp;&nbsp;&nbsp; OMNIA Partners LLC, 2024 Term Loan B, (3-mo. CME <br> Term SOFR at 0.00% Floor + 2.50%), 6.81%, <br> 07/25/30<br>|  | 30 | &nbsp;&nbsp; 29695 |
| Peer Holding III BV, 2025 USD Term Loan B, 09/27/32<sup>(o)</sup> |  | 17 | &nbsp;&nbsp; 17000 |
| &nbsp;&nbsp;&nbsp; PG Polaris BidCo SARL, Term Loan B, (1-mo. CME Term <br> SOFR at 0.00% Floor + 2.75%), 6.91%, 03/26/31<br>|  | 34 | &nbsp;&nbsp; 33813 |
| &nbsp;&nbsp;&nbsp; Raven Acquisition Holdings LLC, Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 3.00%), 7.16%, <br> 11/19/31<br>|  | 27 | &nbsp;&nbsp; 26836 |
| &nbsp;&nbsp;&nbsp; Sellerx, 2024 Revolver, (3-mo. CME Term SOFR at <br> 1.00% Floor + 5.00%), 9.32%, 10/28/26<sup>(e)</sup><br>|  | 78 | &nbsp;&nbsp; 78206 |
| &nbsp;&nbsp;&nbsp; Supergoop LLC, Revolver, (1-mo. CME Term SOFR + <br> 5.75%), 9.87%, 12/29/27<sup>(e)</sup><br>|  | 147 | &nbsp;&nbsp; 145987 |
| &nbsp;&nbsp;&nbsp; TruGreen LP, 2020 Term Loan, (1-mo. CME Term SOFR <br> + 4.10%), 8.26%, 11/02/27<br>|  | 18 | &nbsp;&nbsp; 17709 |
|  |  |  | &nbsp;&nbsp; 567357 |
| **Consumer Finance — 0.2%** | **Consumer Finance — 0.2%** | **Consumer Finance — 0.2%** | **Consumer Finance — 0.2%** |
| &nbsp;&nbsp;&nbsp; Barri Financial Group LLC, Term Loan, (1-mo. CME Term <br> SOFR + 8.25%), 12.51%, 12/14/27<sup>(e)</sup><br>|  | 391 | &nbsp;&nbsp; 383709 |
| &nbsp;&nbsp;&nbsp; Boost Newco Borrower LLC, 2025 USD Term Loan B2, <br> (3-mo. CME Term SOFR at 0.00% Floor + 2.00%), <br> 6.00%, 01/31/31<br>|  | 205 | &nbsp;&nbsp; 205561 |
| &nbsp;&nbsp;&nbsp; Citrin Cooperman Advisors LLC, 2025 Term Loan B, <br> (3-mo. CME Term SOFR at 0.00% Floor + 3.00%), <br> 7.00%, 04/01/32<br>|  | 39 | &nbsp;&nbsp; 38725 |
| &nbsp;&nbsp;&nbsp; Corpay Technologies Operating Co. LLC, Term Loan B5, <br> (1-mo. CME Term SOFR at 0.00% Floor + 1.75%), <br> 5.91%, 04/28/28<br>|  | 145 | &nbsp;&nbsp; 144398 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Consumer Finance (continued)** | **Consumer Finance (continued)** | **Consumer Finance (continued)** | **Consumer Finance (continued)** |
| &nbsp;&nbsp;&nbsp; Shift4 Payments LLC, 2025 Term Loan, (3-mo. CME <br> Term SOFR at 0.00% Floor + 2.50%), 6.50%, <br> 06/30/32<br>| USD | 36 | &nbsp;&nbsp; $36255 |
| Trans Union LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B8, (1-mo. CME Term SOFR at <br> 0.00% Floor + 1.75%), 5.91%, 06/24/31<br>|  | 56 | &nbsp;&nbsp; 56374 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B9, (1-mo. CME Term SOFR at <br> 0.50% Floor + 1.75%), 5.91%, 06/24/31<br>|  | 132 | &nbsp;&nbsp; 131788 |
| WEX, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B2, (1-mo. CME Term SOFR at <br> 0.00% Floor + 1.75%), 5.91%, 03/31/28<br>|  | 15 | &nbsp;&nbsp; 14863 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Incremental Term Loan B, (1-mo. CME Term <br> SOFR at 0.00% Floor + 1.75%), 5.91%, 03/05/32<br>|  | 30 | &nbsp;&nbsp; 29710 |
|  |  |  | &nbsp;&nbsp; 1041383 |
| **Consumer Staples Distribution & Retail — 0.0%** | **Consumer Staples Distribution & Retail — 0.0%** | **Consumer Staples Distribution & Retail — 0.0%** | **Consumer Staples Distribution & Retail — 0.0%** |
| &nbsp;&nbsp;&nbsp; Boots Group Finco LP, USD Term Loan, (3-mo. CME <br> Term SOFR at 0.00% Floor + 3.50%), 7.70%, <br> 08/30/32<br>|  | 60 | &nbsp;&nbsp; 60125 |
| &nbsp;&nbsp;&nbsp; U.S. Foods, Inc., 2024 1st Lien Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 1.75%), 5.91%, <br> 10/03/31<br>|  | 28 | &nbsp;&nbsp; 27948 |
|  |  |  | &nbsp;&nbsp; 88073 |
| **Containers & Packaging — 0.3%** | **Containers & Packaging — 0.3%** | **Containers & Packaging — 0.3%** | **Containers & Packaging — 0.3%** |
| &nbsp;&nbsp;&nbsp; Asplundh Tree Expert LLC, 2021 Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 1.85%), 6.01%, <br> 09/07/27<br>|  | 59 | &nbsp;&nbsp; 59483 |
| &nbsp;&nbsp;&nbsp; Brook & Whittle Holding Corp., 2025 Term Loan C, (3-<br> mo. CME Term SOFR at 1.00% Floor + 9.25%), <br> 13.48%, 12/14/29<sup>(d)(e)(m)</sup><br>|  | 3154 | &nbsp;&nbsp; 1229964 |
| &nbsp;&nbsp;&nbsp; Charter Next Generation, Inc., 2024 Term Loan B1, (1-<br> mo. CME Term SOFR at 0.75% Floor + 2.75%), <br> 6.93%, 11/29/30<br>|  | 181 | &nbsp;&nbsp; 181979 |
| Clydesdale Acquisition Holdings, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Delayed Draw Term Loan, (1-mo. CME Term <br> SOFR at 0.00% Floor + 3.25%), 7.41%, 04/01/32<br>|  | — <br><sup>(n)</sup><br>| &nbsp;&nbsp; 44 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, (1-mo. CME Term SOFR at 0.00% <br> Floor + 3.25%), 7.41%, 04/01/32<br>|  | 85 | &nbsp;&nbsp; 84482 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, (1-mo. CME Term SOFR + 3.18%), <br> 7.34%, 04/13/29<br>|  | 10 | &nbsp;&nbsp; 9983 |
| &nbsp;&nbsp;&nbsp; LABL, Inc., 2021 USD 1st Lien Term Loan, (1-mo. CME <br> Term SOFR at 0.50% Floor + 5.10%), 9.26%, <br> 10/30/28<br>|  | 83 | &nbsp;&nbsp; 68156 |
| &nbsp;&nbsp;&nbsp; Mauser Packaging Solutions Holding Co., 2024 Term <br> Loan B, (1-mo. CME Term SOFR + 3.00%), 7.28%, <br> 04/15/27<br>|  | 45 | &nbsp;&nbsp; 44747 |
| &nbsp;&nbsp;&nbsp; Pregis TopCo Corp., 2025 Refinancing Term Loan, (1-<br> mo. CME Term SOFR at 0.00% Floor + 4.00%), <br> 8.16%, 02/01/29<br>|  | 37 | &nbsp;&nbsp; 36797 |
| &nbsp;&nbsp;&nbsp; Proampac PG Borrower LLC, 2024 Term Loan, (3-mo. <br> CME Term SOFR + 4.00%), 8.26%, 09/15/28<br>|  | 9 | &nbsp;&nbsp; 8997 |
| &nbsp;&nbsp;&nbsp; Ring Container Technologies Group LLC, 2025 Term <br> Loan B, (1-mo. CME Term SOFR at 0.50% Floor + <br> 2.50%), 6.66%, 09/15/32<br>|  | 26 | &nbsp;&nbsp; 25948 |
| &nbsp;&nbsp;&nbsp; Trident TPI Holdings, Inc., 2024 Term Loan B7, (3-mo. <br> CME Term SOFR at 0.50% Floor + 3.75%), 7.75%, <br> 09/15/28<br>|  | 51 | &nbsp;&nbsp; 50280 |
|  |  |  | &nbsp;&nbsp; 1800860 |

---

------

Consolidated Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Credit Strategies Fund**

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

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Distributors — 0.1%** | **Distributors — 0.1%** | **Distributors — 0.1%** | **Distributors — 0.1%** |
| &nbsp;&nbsp;&nbsp; American Builders & Contractors Supply Co., Inc., <br> 2024 Term Loan B, (1-mo. CME Term SOFR at 0.00% <br> Floor + 1.75%), 5.91%, 01/31/31<br>| USD | 74 | &nbsp;&nbsp; $74111 |
| &nbsp;&nbsp;&nbsp; Bad Boy Mowers JV Acquisition LLC, 2023 Term Loan, <br> (1-mo. CME Term SOFR at 0.75% Floor + 5.25%), <br> 9.39%, 11/09/29<sup>(e)</sup><br>|  | 68 | &nbsp;&nbsp; 68542 |
| Core & Main LP |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan D, (1-mo. CME Term SOFR at 0.00% <br> Floor + 2.00%), 6.17%, 07/27/28<br>|  | 120 | &nbsp;&nbsp; 120021 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan E, (1-mo. CME Term SOFR at 0.00% <br> Floor + 2.00%), 6.17%, 02/09/31<br>|  | 35 | &nbsp;&nbsp; 34369 |
| &nbsp;&nbsp;&nbsp; Dealer Tire Financial LLC, 2024 1st Lien Term Loan B, <br> (1-mo. CME Term SOFR at 0.00% Floor + 3.00%), <br> 7.16%, 07/02/31<br>|  | 64 | &nbsp;&nbsp; 63975 |
| &nbsp;&nbsp;&nbsp; Gates Corp./DE, 2024 Term Loan B5, (1-mo. CME Term <br> SOFR + 1.75%), 5.91%, 06/04/31<br>|  | 113 | &nbsp;&nbsp; 112777 |
| &nbsp;&nbsp;&nbsp; PAI Holdco, Inc., 2020 Term Loan B, (3-mo. CME Term <br> SOFR + 4.01%), 8.32%, 10/28/27<br>|  | 23 | &nbsp;&nbsp; 19024 |
| &nbsp;&nbsp;&nbsp; Resideo Funding, Inc., 2025 Incremental Term Loan, <br> (3-mo. CME Term SOFR at 0.00% Floor + 2.00%), <br> 6.04%, 08/13/32<br>|  | 50 | &nbsp;&nbsp; 49969 |
| &nbsp;&nbsp;&nbsp; TMK Hawk Parent Corp., 2024 Term Loan B, (1-mo. <br> CME Term SOFR at 1.00% Floor + 5.25%, 3.25% <br> PIK), 12.66%, 06/30/29<sup>(h)</sup><br>|  | 42 | &nbsp;&nbsp; 14897 |
|  |  |  | &nbsp;&nbsp; 557685 |
| **Diversified Consumer Services — 1.2%** | **Diversified Consumer Services — 1.2%** | **Diversified Consumer Services — 1.2%** | **Diversified Consumer Services — 1.2%** |
| &nbsp;&nbsp;&nbsp; Anticimex International AB, 2024 Term Loan B6, (3-mo. <br> SOFR + 3.40%), 7.76%, 11/16/28<br>|  | 30 | &nbsp;&nbsp; 29894 |
| &nbsp;&nbsp;&nbsp; Express Wash Acquisition Co. LLC, 2025 Term Loan, <br> (3-mo. CME Term SOFR at 1.00% Floor + 6.25%), <br> 10.58%, 04/10/31<sup>(e)</sup><br>|  | 4710 | &nbsp;&nbsp; 4635058 |
| &nbsp;&nbsp;&nbsp; Homerenew Buyer, Inc., 2025 SP Delayed Draw Term <br> Loan, (3-mo. CME Term SOFR + 9.50%), 13.65%, <br> 04/14/30<sup>(e)</sup><br>|  | 433 | &nbsp;&nbsp; 433257 |
| &nbsp;&nbsp;&nbsp; Pluralsight, Inc., 2024 Second Priority Term Loan B, (3-<br> mo. CME Term SOFR at 1.00% Floor + 7.50%), <br> 11.70%, 08/22/29<sup>(e)</sup><br>|  | 708 | &nbsp;&nbsp; 645505 |
| &nbsp;&nbsp;&nbsp; Razor Group GmbH, 2025 Tranche Term Loan 3 B, <br> (Defaulted), 0.00%, 12/20/29<sup>(e)</sup><br>|  | 1401 | &nbsp;&nbsp; 1096257 |
| &nbsp;&nbsp;&nbsp; TL Voltron Purchaser LLC, Term Loan, (1-mo. CME Term <br> SOFR at 0.00% Floor + 5.25%), 9.41%, 12/31/30<sup>(e)</sup><br>|  | 81 | &nbsp;&nbsp; 79178 |
|  |  |  | &nbsp;&nbsp; 6919149 |
| **Diversified Telecommunication Services — 0.1%** | **Diversified Telecommunication Services — 0.1%** | **Diversified Telecommunication Services — 0.1%** | **Diversified Telecommunication Services — 0.1%** |
| &nbsp;&nbsp;&nbsp; Altice Financing SA, USD 2017 1st Lien Term Loan, <br> (Prime + 1.75%), 9.00%, 01/31/26<sup>(e)</sup><br>|  | 79 | &nbsp;&nbsp; 75822 |
| Lumen Technologies, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Extended Term Loan B1, (1-mo. CME Term <br> SOFR at 2.00% Floor + 2.46%), 6.63%, 04/16/29<br>|  | 51 | &nbsp;&nbsp; 50196 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Extended Term Loan B2, (1-mo. CME Term <br> SOFR at 2.00% Floor + 2.46%), 6.63%, 04/15/30<br>|  | 66 | &nbsp;&nbsp; 66041 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan A, (1-mo. CME Term SOFR + 6.00%), <br> 10.16%, 06/01/28<br>|  | 10 | &nbsp;&nbsp; 9931 |
| &nbsp;&nbsp;&nbsp; Zayo Group Holdings, Inc., 1st Lien Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 3.50%), 7.61%, <br> 03/11/30<br>|  | 194 | &nbsp;&nbsp; 190621 |
|  |  |  | &nbsp;&nbsp; 392611 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Electric Utilities — 0.0%** | **Electric Utilities — 0.0%** | **Electric Utilities — 0.0%** | **Electric Utilities — 0.0%** |
| &nbsp;&nbsp;&nbsp; Constellation Renewables LLC, 2020 Term Loan, (3-mo. <br> CME Term SOFR at 1.00% Floor + 2.25%), 6.45%, <br> 12/15/27<br>| USD | 19 | &nbsp;&nbsp; $18891 |
| &nbsp;&nbsp;&nbsp; Talen Energy Supply LLC, 2024-1 Incremental Term <br> Loan, (3-mo. CME Term SOFR at 0.00% Floor + <br> 2.50%), 6.73%, 12/15/31<br>|  | 30 | &nbsp;&nbsp; 29781 |
| &nbsp;&nbsp;&nbsp; Vistra Operations Co. LLC, 1st Lien Term Loan B3, (1-<br> mo. CME Term SOFR + 1.75%), 5.91%, 12/20/30<br>|  | 59 | &nbsp;&nbsp; 59393 |
|  |  |  | &nbsp;&nbsp; 108065 |
| **Electrical Equipment**<sup>(e)</sup> **— 0.0%** | **Electrical Equipment**<sup>(e)</sup> **— 0.0%** | **Electrical Equipment**<sup>(e)</sup> **— 0.0%** | **Electrical Equipment**<sup>(e)</sup> **— 0.0%** |
| Sparkstone Electrical Group |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Revolver, (3-mo. CME Term SOFR + 5.25%), 9.46%, <br> 10/15/31<br>|  | 2 | &nbsp;&nbsp; 1860 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan, (3-mo. CME Term SOFR + 5.25%), 9.44%, <br> 10/15/31<br>|  | 56 | &nbsp;&nbsp; 51405 |
|  |  |  | &nbsp;&nbsp; 53265 |
| **Electronic Equipment, Instruments & Components — 0.0%** | **Electronic Equipment, Instruments & Components — 0.0%** | **Electronic Equipment, Instruments & Components — 0.0%** | **Electronic Equipment, Instruments & Components — 0.0%** |
| &nbsp;&nbsp;&nbsp; Celestica, Inc., 2024 Term Loan B, (1-mo. CME Term <br> SOFR at 0.00% Floor + 1.75%), 5.92%, 06/20/31<sup>(e)</sup><br>|  | 20 | &nbsp;&nbsp; 19849 |
| &nbsp;&nbsp;&nbsp; Coherent Corp., 2025 1st Lien Term Loan B2, (1-mo. <br> CME Term SOFR at 0.50% Floor + 1.75%), 5.94%, <br> 07/02/29<br>|  | 46 | &nbsp;&nbsp; 45283 |
| &nbsp;&nbsp;&nbsp; Lsf12 Crown U.S. Commercial Bidco LLC, 2025 Term <br> Loan B, 12/02/31<sup>(o)</sup><br>|  | 37 | &nbsp;&nbsp; 37023 |
| Pinnacle Buyer LLC<sup>(o)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; Delayed Draw Term Loan, 09/10/32 |  | 8 | &nbsp;&nbsp; 8340 |
| &nbsp;&nbsp;&nbsp; Term Loan, 09/10/32 |  | 43 | &nbsp;&nbsp; 43367 |
| &nbsp;&nbsp;&nbsp; Project Aurora U.S. Finco, Inc., USD Term Loan, <br> 09/24/32<sup>(e)(o)</sup><br>|  | 12 | &nbsp;&nbsp; 12015 |
| Sanmina Corp., Term Loan B, 08/06/32<sup>(e)(o)</sup> |  | 40 | &nbsp;&nbsp; 39900 |
|  |  |  | &nbsp;&nbsp; 205777 |
| **Energy Equipment & Services — 0.0%** | **Energy Equipment & Services — 0.0%** | **Energy Equipment & Services — 0.0%** | **Energy Equipment & Services — 0.0%** |
| &nbsp;&nbsp;&nbsp; Meade Pipeline Co. LLC, Term Loan B, (3-mo. CME <br> Term SOFR at 0.00% Floor + 2.00%), 6.00%, <br> 09/22/32<br>|  | 13 | &nbsp;&nbsp; 12984 |
| **Entertainment — 0.0%** | **Entertainment — 0.0%** | **Entertainment — 0.0%** | **Entertainment — 0.0%** |
| &nbsp;&nbsp;&nbsp; Bally's Corp., 2021 Term Loan B, (3-mo. CME Term <br> SOFR at 0.50% Floor + 3.51%), 7.84%, 10/02/28<br>|  | 38 | &nbsp;&nbsp; 36602 |
| &nbsp;&nbsp;&nbsp; Delta 2 Lux SARL, 2024 1st Lien Term Loan B, (3-mo. <br> CME Term SOFR at 0.50% Floor + 2.00%), 6.00%, <br> 09/30/31<br>|  | 122 | &nbsp;&nbsp; 121788 |
|  |  |  | &nbsp;&nbsp; 158390 |
| **Environmental, Maintenance & Security Service — 0.1%** | **Environmental, Maintenance & Security Service — 0.1%** | **Environmental, Maintenance & Security Service — 0.1%** | **Environmental, Maintenance & Security Service — 0.1%** |
| &nbsp;&nbsp;&nbsp; Action Environmental Group, Inc., 2023 Term Loan B, <br> (3-mo. CME Term SOFR at 0.50% Floor + 3.25%), <br> 7.25%, 10/24/30<sup>(e)</sup><br>|  | 39 | &nbsp;&nbsp; 38989 |
| Clean Harbors, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, (1-mo. CME Term SOFR at 0.00% <br> Floor + 1.75%), 5.91%, 10/09/28<br>|  | 57 | &nbsp;&nbsp; 56964 |
| &nbsp;&nbsp;&nbsp; 2025 Term Loan, 09/24/32<sup>(o)</sup> |  | 37 | &nbsp;&nbsp; 37046 |
| &nbsp;&nbsp;&nbsp; Filtration Group Corp., 2025 USD Term Loan, (1-mo. <br> CME Term SOFR at 0.50% Floor + 2.75%), 6.91%, <br> 10/21/28<br>|  | 154 | &nbsp;&nbsp; 154939 |
| &nbsp;&nbsp;&nbsp; GFL ES US LLC, 2025 Term Loan B, (3-mo. CME Term <br> SOFR at 0.00% Floor + 2.50%), 6.67%, 03/03/32<br>|  | 120 | &nbsp;&nbsp; 119843 |
| &nbsp;&nbsp;&nbsp; JFL-Tiger Acquisition Co., Inc., Term Loan B, (1-mo. <br> CME Term SOFR at 0.50% Floor + 3.75%), 7.89%, <br> 10/17/30<br>|  | 31 | &nbsp;&nbsp; 30560 |

---

Consolidated Schedule of Investments

------

Consolidated Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Credit Strategies Fund**

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

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Environmental, Maintenance & Security Service (continued)** | **Environmental, Maintenance & Security Service (continued)** | **Environmental, Maintenance & Security Service (continued)** | **Environmental, Maintenance & Security Service (continued)** |
| Madison IAQ LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, (6-mo. CME Term SOFR at 0.50% <br> Floor + 3.25%), 7.45%, 05/06/32<br>| USD | 77 | &nbsp;&nbsp; $77126 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan, (6-mo. CME Term SOFR at 0.50% Floor + <br> 2.50%), 6.70%, 06/21/28<br>|  | 189 | &nbsp;&nbsp; 188878 |
| &nbsp;&nbsp;&nbsp; Packers Holdings LLC, 2021 Term Loan, (3-mo. CME <br> Term SOFR at 0.75% Floor + 3.35%), 7.66%, <br> 03/09/28<br>|  | 52 | &nbsp;&nbsp; 16360 |
| &nbsp;&nbsp;&nbsp; Reworld Holding Corp., 2025 1st Lien Term Loan B, <br> 01/15/31<sup>(o)</sup><br>|  | 19 | &nbsp;&nbsp; 18941 |
|  |  |  | &nbsp;&nbsp; 739646 |
| **Financial Services — 5.5%** | **Financial Services — 5.5%** | **Financial Services — 5.5%** | **Financial Services — 5.5%** |
| &nbsp;&nbsp;&nbsp; 1475 Holdings LLC, Term Loan, (1-mo. CME Term SOFR <br> + 5.25%), 9.41%, 01/18/30<sup>(e)</sup><br>|  | 79 | &nbsp;&nbsp; 78431 |
| &nbsp;&nbsp;&nbsp; Accordion Partners LLC, 2024 Delayed Draw Term Loan, <br> (3-mo. CME Term SOFR at 0.75% Floor + 5.00%), <br> 9.19%, 11/17/31<sup>(e)</sup><br>|  | 4 | &nbsp;&nbsp; 4120 |
| &nbsp;&nbsp;&nbsp; Accuserve Solutions, Inc., 2024 Incremental Term Loan, <br> (3-mo. CME Term SOFR + 5.25%), 9.48%, <br> 03/15/30<sup>(e)</sup><br>|  | 595 | &nbsp;&nbsp; 575289 |
| &nbsp;&nbsp;&nbsp; Apex Group Treasury LLC, 2025 USD Term Loan B, <br> (3-mo. CME Term SOFR at 0.00% Floor + 3.50%), <br> 7.75%, 02/27/32<br>|  | 76 | &nbsp;&nbsp; 73853 |
| &nbsp;&nbsp;&nbsp; Beekeeper Buyer, Inc., Term Loan, (Prime + 4.25%), <br> 11.50%, 06/30/31<sup>(e)</sup><br>|  | 3009 | &nbsp;&nbsp; 2981984 |
| &nbsp;&nbsp;&nbsp; CPI Holdco B LLC, 2024 Term Loan, (1-mo. CME Term <br> SOFR + 2.00%), 6.16%, 05/19/31<br>|  | 137 | &nbsp;&nbsp; 136873 |
| Foreside Financial<sup>(e)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 Revolver, (3-mo. CME Term SOFR at 1.00% <br> Floor + 5.25%), 9.46%, 09/30/27<br>|  | 12 | &nbsp;&nbsp; 12203 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Incremental Delayed Draw Term Loan, (3-mo. <br> CME Term SOFR at 1.00% Floor + 5.25%), 9.40%, <br> 09/30/27<br>|  | 336 | &nbsp;&nbsp; 338099 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Incremental Term Loan, (1-mo. CME Term SOFR + <br> 5.25%), 9.60%, 09/30/27<br>|  | 1935 | &nbsp;&nbsp; 1934646 |
| &nbsp;&nbsp;&nbsp; GC Champion Acquisition LLC, 1st Lien Delayed Draw <br> Term Loan, (6-mo. CME Term SOFR at 1.00% Floor + <br> 5.00%), 9.21%, 08/21/28<sup>(e)</sup><br>|  | 47 | &nbsp;&nbsp; 47120 |
| &nbsp;&nbsp;&nbsp; GC Waves Holdings, Inc., 2024 Replacing Term Loan, <br> (1-mo. CME Term SOFR at 0.75% Floor + 4.75%), <br> 9.01%, 10/04/30<sup>(e)</sup><br>|  | 3848 | &nbsp;&nbsp; 3848118 |
| &nbsp;&nbsp;&nbsp; ION Platform Finance U.S., Inc., USD Term Loan, <br> 09/30/32<sup>(e)(o)</sup><br>|  | 169 | &nbsp;&nbsp; 167521 |
| Lucky U.S. Buyerco LLC<sup>(e)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Revolver, (3-mo. CME Term SOFR at 1.00% Floor + <br> 7.50%), 11.51%, 03/29/29<br>|  | 9 | &nbsp;&nbsp; 9050 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, (3-mo. CME Term SOFR at 1.00% Floor <br> + 7.50%), 11.50%, 03/29/29<br>|  | 85 | &nbsp;&nbsp; 83445 |
| &nbsp;&nbsp;&nbsp; Nxgen Buyer, Inc., 2024 11th Amendment Incremental <br> Term Loan, (1-mo. CME Term SOFR at 1.00% Floor + <br> 4.75%), 8.91%, 11/01/27<sup>(e)</sup><br>|  | 3806 | &nbsp;&nbsp; 3798405 |
| &nbsp;&nbsp;&nbsp; Oak Purchaser, Inc., 2024 Delayed Draw Term Loan, <br> (6-mo. CME Term SOFR at 0.75% Floor + 5.50%), <br> 9.37%, 05/31/28<sup>(e)</sup><br>|  | 64 | &nbsp;&nbsp; 63611 |
| &nbsp;&nbsp;&nbsp; Oasis Financial LLC, 2nd Lien Term Loan, (1-mo. CME <br> Term SOFR at 1.00% Floor + 8.50%), 12.78%, <br> 07/05/26<sup>(e)</sup><br>|  | 833 | &nbsp;&nbsp; 841667 |
| &nbsp;&nbsp;&nbsp; Orion U.S. Finco, Inc., 1st Lien Term Loan, 0.00%, <br> 05/20/32<br>|  | 46 | &nbsp;&nbsp; 46230 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Financial Services (continued)** | **Financial Services (continued)** | **Financial Services (continued)** | **Financial Services (continued)** |
| &nbsp;&nbsp;&nbsp; PMA Parent Holdings LLC, Term Loan, (3-mo. CME Term <br> SOFR + 4.75%), 8.75%, 01/31/31<sup>(e)</sup><br>| USD | 87 | &nbsp;&nbsp; $86202 |
| &nbsp;&nbsp;&nbsp; PREIT Associates LP, 2024 Term Loan, (1-mo. CME <br> Term SOFR at 0.00% Floor + 7.00%), 11.19%, <br> 04/01/29<br>|  | 3596 | &nbsp;&nbsp; 3686433 |
| &nbsp;&nbsp;&nbsp; SitusAMC Holdings Corp., 2025 Incremental Term Loan, <br> (3-mo. CME Term SOFR at 0.75% Floor + 5.50%), <br> 9.50%, 05/14/31<sup>(e)</sup><br>|  | 4937 | &nbsp;&nbsp; 4966804 |
| Smarsh, Inc.<sup>(e)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 Revolver, (1-mo. CME Term SOFR at 0.75% <br> Floor + 4.75%), 8.82%, 02/16/29<br>|  | 27 | &nbsp;&nbsp; 26667 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan, (3-mo. CME Term SOFR at 0.75% <br> Floor + 4.75%), 8.75%, 02/16/29<br>|  | 1714 | &nbsp;&nbsp; 1714286 |
| Wealth Enhancement Group LLC<sup>(e)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 August Delayed Draw Term Loan, (3-mo. CME <br> Term SOFR + 4.50%), 8.79%, 10/02/28<br>|  | 1167 | &nbsp;&nbsp; 1161696 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 11th Amendment Delayed Draw Term Loan, <br> (3-mo. CME Term SOFR at 1.00% Floor + 5.00%), <br> 8.79%, 10/02/28<br>|  | 3514 | &nbsp;&nbsp; 3496693 |
| &nbsp;&nbsp;&nbsp; Wharf Street Ratings Acquisition LLC, 2025 Term Loan, <br> (1-mo. CME Term SOFR at 0.75% Floor + 4.75%), <br> 8.91%, 09/16/32<br>|  | 2455 | &nbsp;&nbsp; 2430000 |
|  |  |  | &nbsp;&nbsp; 32609446 |
| **Food Products — 0.1%** | **Food Products — 0.1%** | **Food Products — 0.1%** | **Food Products — 0.1%** |
| &nbsp;&nbsp;&nbsp; Aramark Services, Inc., 2024 Term Loan B8, (1-mo. CME <br> Term SOFR at 0.00% Floor + 2.00%), 6.17%, <br> 06/22/30<br>|  | 117 | &nbsp;&nbsp; 116851 |
| &nbsp;&nbsp;&nbsp; Chobani LLC, 2025 Repriced Term Loan B, (1-mo. CME <br> Term SOFR at 0.00% Floor + 2.50%), 6.66%, <br> 10/25/27<br>|  | 232 | &nbsp;&nbsp; 231998 |
| Froneri U.S., Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 USD Term Loan B4, (6-mo. CME Term SOFR at <br> 0.00% Floor + 2.00%), 6.20%, 09/30/31<br>|  | 158 | &nbsp;&nbsp; 157106 |
| &nbsp;&nbsp;&nbsp; 2025 USD Term Loan, 08/02/32<sup>(o)</sup> |  | 49 | &nbsp;&nbsp; 48870 |
| &nbsp;&nbsp;&nbsp; H-Food Holdings LLC, 2025 Exit Term Loan, (3-mo. CME <br> Term SOFR at 2.00% Floor + 6.50%), 10.81%, <br> 03/29/30<br>|  | 12 | &nbsp;&nbsp; 11759 |
| &nbsp;&nbsp;&nbsp; Nomad Foods U.S. LLC, 2023 Term Loan B5, (6-mo. <br> CME Term SOFR at 0.50% Floor + 2.50%), 6.54%, <br> 11/12/29<br>|  | 31 | &nbsp;&nbsp; 31375 |
| &nbsp;&nbsp;&nbsp; UTZ Quality Foods LLC, 2025 Term Loan B, (3-mo. CME <br> Term SOFR at 0.00% Floor + 2.50%), 6.50%, <br> 01/29/32<br>|  | 94 | &nbsp;&nbsp; 93769 |
| Wellness Pet LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 First Out Exchange Term Loan, (3-mo. CME <br> Term SOFR at 0.00% Floor + 3.95%), 7.95%, <br> 12/31/29<br>|  | 9 | &nbsp;&nbsp; 7162 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Second Out Exchange Term Loan, (3-mo. CME <br> Term SOFR at 0.75% Floor + 4.01%), 8.01%, <br> 12/31/29<br>|  | 5 | &nbsp;&nbsp; 2170 |
|  |  |  | &nbsp;&nbsp; 701060 |
| **Ground Transportation — 0.9%** | **Ground Transportation — 0.9%** | **Ground Transportation — 0.9%** | **Ground Transportation — 0.9%** |
| &nbsp;&nbsp;&nbsp; Genesee & Wyoming, Inc., 2024 Term Loan, (3-mo. CME <br> Term SOFR at 0.00% Floor + 1.75%), 5.75%, <br> 04/10/31<br>|  | 215 | &nbsp;&nbsp; 213955 |
| Keep Truckin, Inc.<sup>(e)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan, (1-mo. CME Term SOFR at 1.00% <br> Floor + 7.25%), 11.53%, 04/08/27<br>|  | 500 | &nbsp;&nbsp; 504000 |

---

------

Consolidated Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Credit Strategies Fund**

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

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Ground Transportation (continued)** | **Ground Transportation (continued)** | **Ground Transportation (continued)** | **Ground Transportation (continued)** |
| Keep Truckin, Inc.<sup>(e)</sup> (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Delayed Draw Term Loan, (1-mo. CME Term SOFR at <br> 1.00% Floor + 7.25%), 11.53%, 04/08/27<br>| USD | 988 | &nbsp;&nbsp; $995998 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Delayed Draw Term Loan 2, (1-mo. CME Term SOFR <br> at 1.00% Floor + 7.25%), 11.53%, 04/08/27<br>|  | 1512 | &nbsp;&nbsp; 1524002 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan, (1-mo. CME Term SOFR at 1.00% Floor + <br> 7.25%), 11.53%, 04/08/27<br>|  | 2000 | &nbsp;&nbsp; 2016000 |
|  |  |  | &nbsp;&nbsp; 5253955 |
| **Health Care Equipment & Supplies — 0.0%** | **Health Care Equipment & Supplies — 0.0%** | **Health Care Equipment & Supplies — 0.0%** | **Health Care Equipment & Supplies — 0.0%** |
| &nbsp;&nbsp;&nbsp; Avantor Funding, Inc., 2024 Term Loan B6, (1-mo. CME <br> Term SOFR at 0.50% Floor + 2.10%), 6.26%, <br> 11/08/27<br>|  | 6 | &nbsp;&nbsp; 5343 |
| Bausch & Lomb Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 Incremental Term Loan, (1-mo. CME Term SOFR <br> at 0.00% Floor + 4.00%), 8.17%, 09/29/28<br>|  | 39 | &nbsp;&nbsp; 39151 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, (1-mo. CME Term SOFR at 0.00% <br> Floor + 4.25%), 8.41%, 01/15/31<br>|  | 93 | &nbsp;&nbsp; 93082 |
| &nbsp;&nbsp;&nbsp; QuidelOrtho Corp., Term Loan, (3-mo. CME Term SOFR <br> at 0.00% Floor + 4.00%), 8.00%, 08/20/32<br>|  | 36 | &nbsp;&nbsp; 35790 |
|  |  |  | &nbsp;&nbsp; 173366 |
| **Health Care Providers & Services — 3.4%** | **Health Care Providers & Services — 3.4%** | **Health Care Providers & Services — 3.4%** | **Health Care Providers & Services — 3.4%** |
| &nbsp;&nbsp;&nbsp; AHP Health Partners, Inc., 2025 Term Loan B, <br> 09/20/32<sup>(o)</sup><br>|  | 9 | &nbsp;&nbsp; 8757 |
| BW NHHC Holdco, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 1st Lien Second Out Term Loan, (3-mo. CME <br> Term SOFR at 2.00% Floor + 5.75%), 9.75%, <br> 01/15/26<br>|  | 4429 | &nbsp;&nbsp; 4102832 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 2nd Lien Third Out Term Loan, (3-mo. CME Term <br> SOFR + 9.20%), 13.20%, 11/15/26<sup>(e)</sup><br>|  | 2089 | &nbsp;&nbsp; 208878 |
| &nbsp;&nbsp;&nbsp; CareRing Health LLC, Delayed Draw Term Loan, (3-mo. <br> CME Term SOFR at 0.75% Floor + 6.00%), 10.20%, <br> 05/04/28<sup>(e)</sup><br>|  | 667 | &nbsp;&nbsp; 654771 |
| CBI-Gator Acquisition LLC<sup>(e)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Revolver, (3-mo. CME Term SOFR at 1.00% Floor + <br> 6.50%), 10.78%, 10/25/27<br>|  | 234 | &nbsp;&nbsp; 224159 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan, (3-mo. CME Term SOFR + 6.50%), <br> 10.76%, 10/25/27<br>|  | 2808 | &nbsp;&nbsp; 2686883 |
| &nbsp;&nbsp;&nbsp; Concentra Health Services, Inc., 2025 Repriced Term <br> Loan B, (1-mo. CME Term SOFR at 0.00% Floor + <br> 2.00%), 6.16%, 07/26/31<br>|  | 33 | &nbsp;&nbsp; 32893 |
| &nbsp;&nbsp;&nbsp; Examworks Bidco, Inc., 2021 Term Loan, (1-mo. CME <br> Term SOFR at 0.50% Floor + 2.75%), 6.91%, <br> 11/01/28<br>|  | 109 | &nbsp;&nbsp; 109534 |
| EyeCare Partners LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Second Out Term Loan B, (6-mo. CME Term <br> SOFR at 0.00% Floor + 1.00%, 3.61% PIK), 8.84%, <br> 11/30/28<sup>(h)</sup><br>|  | 26 | &nbsp;&nbsp; 16694 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Third Out Term Loan C, (3-mo. CME Term SOFR <br> at 0.00% Floor + 6.85%), 10.98%, 11/30/28<sup>(d)(m)</sup><br>|  | 7 | &nbsp;&nbsp; 1415 |
| &nbsp;&nbsp;&nbsp; ICON Luxembourg SARL, 2024 LUX Term Loan B, (3-<br> mo. CME Term SOFR at 0.50% Floor + 2.00%), <br> 6.00%, 07/03/28<br>|  | 25 | &nbsp;&nbsp; 25188 |
| &nbsp;&nbsp;&nbsp; Ivyrehab Intermediate II LLC, 2024 2nd Amendment <br> Tranche A Delayed Draw Term Loan, (3-mo. CME <br> Term SOFR at 0.75% Floor + 5.25%), 9.51%, <br> 04/23/29<sup>(e)</sup><br>|  | 100 | &nbsp;&nbsp; 99077 |
| &nbsp;&nbsp;&nbsp; IvyRehab Intermediate II LLC, 2025 Incremental Delayed <br> Draw Term Loan, (3-mo. CME Term SOFR at 0.75% <br> Floor + 5.00%), 9.22%, 04/23/29<sup>(e)</sup><br>|  | 291 | &nbsp;&nbsp; 286648 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Health Care Providers & Services (continued)** | **Health Care Providers & Services (continued)** | **Health Care Providers & Services (continued)** | **Health Care Providers & Services (continued)** |
| &nbsp;&nbsp;&nbsp; LifePoint Health, Inc., 2024 1st Lien Term Loan B, (3-mo. <br> CME Term SOFR at 0.00% Floor + 3.75%), 8.07%, <br> 05/19/31<br>| USD | 55 | &nbsp;&nbsp; $54619 |
| Medical Solutions Holdings, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 1st Lien Term Loan, (3-mo. CME Term SOFR at <br> 0.50% Floor + 3.60%), 7.91%, 11/01/28<br>|  | — <br><sup>(n)</sup><br>| &nbsp;&nbsp; 15 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 2nd Lien Term Loan, (3-mo. CME Term SOFR at <br> 0.50% Floor + 7.10%), 11.41%, 11/01/29<br>|  | 80 | &nbsp;&nbsp; 16134 |
| Medline Borrower LP |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Incremental Term Loan B, (1-mo. CME Term <br> SOFR at 0.50% Floor + 2.00%), 6.16%, 10/23/30<br>|  | 15 | &nbsp;&nbsp; 14953 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, (1-mo. CME Term SOFR at 0.50% <br> Floor + 2.00%), 6.16%, 10/23/28<br>|  | 369 | &nbsp;&nbsp; 369520 |
| &nbsp;&nbsp;&nbsp; Parexel International Corp., 2025 Term Loan B, (1-mo. <br> CME Term SOFR at 0.50% Floor + 2.50%), 6.66%, <br> 11/15/28<br>|  | 120 | &nbsp;&nbsp; 119921 |
| &nbsp;&nbsp;&nbsp; Patriot Home Care, Term Loan, (3-mo. CME Term SOFR <br> at 0.75% Floor + 6.00%), 10.20%, 05/05/28<sup>(e)</sup><br>|  | 2875 | &nbsp;&nbsp; 2822792 |
| PTSH Intermediate Holdings LLC<sup>(e)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Delayed Draw Term Loan, (3-mo. CME Term SOFR at <br> 0.75% Floor + 5.50%), 9.65%, 12/17/27<br>|  | 465 | &nbsp;&nbsp; 465150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan, (3-mo. CME Term SOFR at 0.75% Floor + <br> 5.50%), 9.65%, 12/17/27<br>|  | 2444 | &nbsp;&nbsp; 2444211 |
| &nbsp;&nbsp;&nbsp; Quorum Health Corp., 2020 Term Loan, (3-mo. CME <br> Term SOFR at 1.00% Floor + 6.60%), 10.60%, <br> 01/28/28<br>|  | 3711 | &nbsp;&nbsp; 2653143 |
| &nbsp;&nbsp;&nbsp; Sotera Health Holdings LLC, 2025 Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 2.50%), 6.66%, <br> 05/30/31<br>|  | 99 | &nbsp;&nbsp; 99037 |
| &nbsp;&nbsp;&nbsp; Star Parent, Inc., Term Loan B, (3-mo. CME Term SOFR <br> at 0.00% Floor + 4.00%), 8.00%, 09/27/30<br>|  | 42 | &nbsp;&nbsp; 42163 |
| &nbsp;&nbsp;&nbsp; Surgery Center Holdings, Inc., 2025 Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 2.50%), 6.66%, <br> 12/19/30<br>|  | 75 | &nbsp;&nbsp; 75105 |
| &nbsp;&nbsp;&nbsp; Team Health Holdings, Inc., 2025 Term Loan B, (3-mo. <br> CME Term SOFR at 0.00% Floor + 4.50%), 8.80%, <br> 06/30/28<br>|  | 20 | &nbsp;&nbsp; 19896 |
| &nbsp;&nbsp;&nbsp; Team Public Choices LLC, Second Lien Term Loan, (3-<br> mo. CME Term SOFR + 9.00%), 13.57%, 12/18/28<sup>(e)</sup><br>|  | 2265 | &nbsp;&nbsp; 2253309 |
|  |  |  | &nbsp;&nbsp; 19907697 |
| **Health Care Technology**<sup>(e)</sup> **— 1.7%** | **Health Care Technology**<sup>(e)</sup> **— 1.7%** | **Health Care Technology**<sup>(e)</sup> **— 1.7%** | **Health Care Technology**<sup>(e)</sup> **— 1.7%** |
| &nbsp;&nbsp;&nbsp; Appriss Health LLC, Term Loan, (1-mo. CME Term SOFR <br> at 1.00% Floor + 4.75%), 9.02%, 05/06/27<br>|  | 691 | &nbsp;&nbsp; 697593 |
| ESO Solutions, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Incremental Term Loan, (3-mo. CME Term SOFR <br> at 1.00% Floor + 6.75%), 10.95%, 05/03/27<br>|  | 964 | &nbsp;&nbsp; 959849 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Revolver, (3-mo. CME Term SOFR at 1.00% Floor + <br> 6.75%), 10.95%, 05/03/27<br>|  | 304 | &nbsp;&nbsp; 302466 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan, (3-mo. CME Term SOFR at 1.00% Floor + <br> 6.75%), 10.95%, 05/03/27<br>|  | 3696 | &nbsp;&nbsp; 3681534 |
| &nbsp;&nbsp;&nbsp; MRO Parent Corp., Term Loan, (3-mo. CME Term SOFR <br> at 0.75% Floor + 4.50%), 8.62%, 06/09/32<br>|  | 4259 | &nbsp;&nbsp; 4225185 |
|  |  |  | &nbsp;&nbsp; 9866627 |
| **Hotel & Resort REITs — 0.0%** | **Hotel & Resort REITs — 0.0%** | **Hotel & Resort REITs — 0.0%** | **Hotel & Resort REITs — 0.0%** |
| &nbsp;&nbsp;&nbsp; RHP Hotel Properties LP, 2024 1st Lien Term Loan B, <br> (1-mo. CME Term SOFR at 0.00% Floor + 2.00%), <br> 6.16%, 05/20/30<br>|  | 32 | &nbsp;&nbsp; 31938 |

---

Consolidated Schedule of Investments

------

Consolidated Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Credit Strategies Fund**

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

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Hotels, Restaurants & Leisure — 3.7%** | **Hotels, Restaurants & Leisure — 3.7%** | **Hotels, Restaurants & Leisure — 3.7%** | **Hotels, Restaurants & Leisure — 3.7%** |
| Aimbridge Acquisition Co., Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 1st Lien Second Out Term Loan, (1-mo. CME <br> Term SOFR at 1.00% Floor + 1.61%, 6.00% PIK), <br> 11.76%, 03/11/30<sup>(h)</sup><br>| USD | 10 | &nbsp;&nbsp; $9878 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 First Out Term Loan, (1-mo. CME Term SOFR at <br> 1.00% Floor + 5.61%), 9.76%, 03/11/30<br>|  | 11 | &nbsp;&nbsp; 10787 |
| &nbsp;&nbsp;&nbsp; Alterra Mountain Co., 2025 Term Loan B8, (1-mo. CME <br> Term SOFR at 0.00% Floor + 2.50%), 6.66%, <br> 05/31/30<br>|  | 59 | &nbsp;&nbsp; 58573 |
| &nbsp;&nbsp;&nbsp; Burger King (Restaurant Brands International Inc.)/New <br> Red Finance, Inc., 2024 Term Loan B6, (1-mo. CME <br> Term SOFR at 0.00% Floor + 1.75%), 5.91%, <br> 09/20/30<br>|  | 104 | &nbsp;&nbsp; 103774 |
| Caesars Entertainment, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B1, (1-mo. CME Term SOFR + <br> 2.25%), 6.41%, 02/06/31<br>|  | 205 | &nbsp;&nbsp; 204382 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, (1-mo. CME Term SOFR + 2.25%), <br> 6.41%, 02/06/30<br>|  | 27 | &nbsp;&nbsp; 26804 |
| &nbsp;&nbsp;&nbsp; EOC Borrower LLC, Term Loan B, (1-mo. CME Term <br> SOFR at 0.00% Floor + 3.00%), 7.16%, 03/24/32<br>|  | 169 | &nbsp;&nbsp; 168493 |
| &nbsp;&nbsp;&nbsp; Fertitta Entertainment LLC/NV, 2022 Term Loan B, (1-<br> mo. CME Term SOFR at 0.50% Floor + 3.25%), <br> 7.41%, 01/27/29<br>|  | 231 | &nbsp;&nbsp; 230908 |
| Flutter Financing BV |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, (3-mo. CME Term SOFR at 0.50% <br> Floor + 1.75%), 5.75%, 11/30/30<br>|  | 170 | &nbsp;&nbsp; 169250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, (3-mo. CME Term SOFR at 0.50% <br> Floor + 2.00%), 6.00%, 06/04/32<br>|  | 64 | &nbsp;&nbsp; 63716 |
| &nbsp;&nbsp;&nbsp; Four Seasons Hotels Ltd., 2025 Term Loan B, (1-mo. <br> CME Term SOFR at 0.50% Floor + 1.75%), 5.91%, <br> 09/22/32<br>|  | 154 | &nbsp;&nbsp; 153781 |
| &nbsp;&nbsp;&nbsp; Great Canadian Gaming Corp., 2024 Term Loan B, (3-<br> mo. CME Term SOFR at 0.00% Floor + 4.75%), <br> 8.75%, 11/01/29<br>|  | 41 | &nbsp;&nbsp; 39466 |
| Gympass<sup>(e)(h)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 2nd Amendment Delayed Draw Term Loan, (1-<br> mo. CME Term SOFR at 1.50% Floor + 3.25%, <br> 3.25% PIK), 10.78%, 08/29/29<br>|  | 4863 | &nbsp;&nbsp; 4912125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan, (1-mo. CME Term SOFR + 3.25%, 3.25% <br> PIK), 10.78%, 07/08/27<br>|  | 283 | &nbsp;&nbsp; 285411 |
| &nbsp;&nbsp;&nbsp; Herschend Entertainment Co. LLC, 2025 Term Loan B, <br> (1-mo. CME Term SOFR at 0.00% Floor + 3.25%), <br> 7.41%, 05/27/32<br>|  | 46 | &nbsp;&nbsp; 46009 |
| &nbsp;&nbsp;&nbsp; Hilton Domestic Operating Co., Inc., 2023 Term Loan B4, <br> (1-mo. CME Term SOFR + 1.75%), 5.91%, 11/08/30<br>|  | 97 | &nbsp;&nbsp; 97341 |
| &nbsp;&nbsp;&nbsp; IRB Holding Corp., 2024 1st Lien Term Loan B, (1-mo. <br> CME Term SOFR at 0.75% Floor + 2.50%), 6.66%, <br> 12/15/27<br>|  | 83 | &nbsp;&nbsp; 83321 |
| &nbsp;&nbsp;&nbsp; Light & Wonder International, Inc., 2024 Term Loan B2, <br> (1-mo. CME Term SOFR at 0.50% Floor + 2.25%), <br> 6.39%, 04/14/29<br>|  | 101 | &nbsp;&nbsp; 101243 |
| &nbsp;&nbsp;&nbsp; Motion Finco SARL, 2024 USD Term Loan B, (3-mo. <br> CME Term SOFR at 0.00% Floor + 3.50%), 7.50%, <br> 11/12/29<br>|  | 94 | &nbsp;&nbsp; 84065 |
| &nbsp;&nbsp;&nbsp; Ontario Gaming GTA LP, Term Loan B, (3-mo. CME Term <br> SOFR at 0.50% Floor + 4.25%), 8.24%, 08/01/30<br>|  | 25 | &nbsp;&nbsp; 24306 |
| &nbsp;&nbsp;&nbsp; Oravel Stays Singapore Pte. Ltd., 2025 Term Loan B, <br> (3-mo. CME Term SOFR at 1.00% Floor + 8.00%), <br> 12.00%, 01/08/30<br>|  | 5963 | &nbsp;&nbsp; 6100332 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Hotels, Restaurants & Leisure (continued)** | **Hotels, Restaurants & Leisure (continued)** | **Hotels, Restaurants & Leisure (continued)** | **Hotels, Restaurants & Leisure (continued)** |
| &nbsp;&nbsp;&nbsp; Penn Entertainment, Inc., 2022 Term Loan B, (1-mo. <br> CME Term SOFR at 0.50% Floor + 2.50%), 6.66%, <br> 05/03/29<br>| USD | 91 | &nbsp;&nbsp; $91273 |
| Sabre GLBL, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan B1, (1-mo. CME Term SOFR at <br> 0.50% Floor + 3.61%), 7.78%, 12/17/27<br>|  | 10 | &nbsp;&nbsp; 9566 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan B2, (1-mo. CME Term SOFR at <br> 0.50% Floor + 3.61%), 7.78%, 12/17/27<br>|  | 3 | &nbsp;&nbsp; 3132 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 1st Lien Term Loan B, (1-mo. CME Term SOFR <br> + 5.10%), 9.26%, 06/30/28<br>|  | 1 | &nbsp;&nbsp; 1209 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B1, (1-mo. CME Term SOFR at <br> 0.50% Floor + 6.10%), 10.26%, 11/15/29<sup>(e)</sup><br>|  | 26 | &nbsp;&nbsp; 24188 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B2, (1-mo. CME Term SOFR at <br> 0.50% Floor + 6.10%), 10.26%, 11/15/29<sup>(e)</sup><br>|  | 14 | &nbsp;&nbsp; 13259 |
| &nbsp;&nbsp;&nbsp; SeaWorld Parks & Entertainment, Inc., 2024 Term Loan <br> B3, (1-mo. CME Term SOFR at 0.50% Floor + 2.00%), <br> 6.16%, 12/04/31<br>|  | 23 | &nbsp;&nbsp; 23321 |
| &nbsp;&nbsp;&nbsp; Showtime Acquisition LLC, 2024 1st Lien Term Loan, <br> (3-mo. CME Term SOFR at 0.00% Floor + 4.75%), <br> 8.94%, 08/16/31<sup>(e)</sup><br>|  | 4944 | &nbsp;&nbsp; 4900624 |
| &nbsp;&nbsp;&nbsp; Six Flags Entertainment Corp., 2024 Term Loan B, (1-<br> mo. CME Term SOFR at 0.00% Floor + 2.00%), <br> 6.16%, 05/01/31<br>|  | 17 | &nbsp;&nbsp; 16616 |
| &nbsp;&nbsp;&nbsp; Station Casinos LLC, 2024 Term Loan B, (1-mo. CME <br> Term SOFR at 0.00% Floor + 2.00%), 6.16%, <br> 03/14/31<br>|  | 121 | &nbsp;&nbsp; 121111 |
| &nbsp;&nbsp;&nbsp; Stonebridge Cos. LLC, Term Loan B, (1-mo. CME Term <br> SOFR at 0.75% Floor + 5.00%), 9.16%, 05/16/31<sup>(e)</sup><br>|  | 3250 | &nbsp;&nbsp; 3211161 |
| Turquoise Topco Ltd., Term Loan B, 08/13/32<sup>(o)</sup> |  | 40 | &nbsp;&nbsp; 40025 |
| &nbsp;&nbsp;&nbsp; Voyager Parent LLC, Term Loan B, (3-mo. CME Term <br> SOFR at 0.00% Floor + 4.75%), 8.75%, 07/01/32<br>|  | 60 | &nbsp;&nbsp; 60082 |
| &nbsp;&nbsp;&nbsp; Whatabrands LLC, 2024 1st Lien Term Loan B, (1-mo. <br> CME Term SOFR at 0.50% Floor + 2.50%), 6.66%, <br> 08/03/28<br>|  | 55 | &nbsp;&nbsp; 54537 |
| &nbsp;&nbsp;&nbsp; Wyndham Hotels & Resorts, Inc., 2024 Term Loan, (1-<br> mo. CME Term SOFR at 0.00% Floor + 1.75%), <br> 5.91%, 05/24/30<br>|  | 61 | &nbsp;&nbsp; 61022 |
|  |  |  | &nbsp;&nbsp; 21605091 |
| **Household Durables — 0.1%** | **Household Durables — 0.1%** | **Household Durables — 0.1%** | **Household Durables — 0.1%** |
| &nbsp;&nbsp;&nbsp; AI Aqua Merger Sub, Inc., 2024 1st Lien Term Loan B, <br> (1-mo. CME Term SOFR at 0.50% Floor + 3.00%), <br> 7.28%, 07/31/28<br>|  | 114 | &nbsp;&nbsp; 114207 |
| &nbsp;&nbsp;&nbsp; Hunter Douglas, Inc., 2025 USD Term Loan B, (3-mo. <br> CME Term SOFR at 0.50% Floor + 3.25%), 7.25%, <br> 01/20/32<br>|  | 105 | &nbsp;&nbsp; 104565 |
| &nbsp;&nbsp;&nbsp; Somnigroup International, Inc., Term Loan B, (1-mo. <br> SOFR + 2.25%), 6.37%, 10/24/31<br>|  | 27 | &nbsp;&nbsp; 27401 |
| Springs Windows Fashions LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 First Lien Second Out Term Loan A2, (1-mo. <br> CME Term SOFR at 1.00% Floor + 4.11%), 8.28%, <br> 10/06/28<br>|  | 27 | &nbsp;&nbsp; 21846 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 FLFO A1 Term Loan, (1-mo. CME Term SOFR at <br> 1.00% Floor + 4.50%), 8.66%, 12/19/29<br>|  | 11 | &nbsp;&nbsp; 11124 |
| &nbsp;&nbsp;&nbsp; Weber-Stephen Products LLC, 2025 Term Loan B, <br> 09/17/32<sup>(o)</sup><br>|  | 75 | &nbsp;&nbsp; 74156 |
|  |  |  | &nbsp;&nbsp; 353299 |

---

------

Consolidated Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Credit Strategies Fund**

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

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Household Products — 0.0%** | **Household Products — 0.0%** | **Household Products — 0.0%** | **Household Products — 0.0%** |
| &nbsp;&nbsp;&nbsp; Lavender U.S. HoldCo 1, Inc., USD Term Loan, <br> 09/27/32<sup>(e)(o)</sup><br>| USD | 43 | &nbsp;&nbsp; $43000 |
| &nbsp;&nbsp;&nbsp; Reynolds Consumer Products LLC, 2025 Term Loan B, <br> (1-mo. CME Term SOFR at 0.00% Floor + 1.75%), <br> 5.91%, 03/04/32<br>|  | 13 | &nbsp;&nbsp; 12954 |
|  |  |  | &nbsp;&nbsp; 55954 |
| **Independent Power and Renewable Electricity Producers — 0.0%** | **Independent Power and Renewable Electricity Producers — 0.0%** | **Independent Power and Renewable Electricity Producers — 0.0%** | **Independent Power and Renewable Electricity Producers — 0.0%** |
| &nbsp;&nbsp;&nbsp; Calpine Construction Finance Co. LP, 2023 Refinancing <br> Term Loan B, (1-mo. CME Term SOFR at 0.00% Floor <br> + 2.00%), 6.16%, 07/31/30<br>|  | 83 | &nbsp;&nbsp; 83720 |
| &nbsp;&nbsp;&nbsp; Calpine Corp., 2024 Term Loan B10, (1-mo. CME Term <br> SOFR at 0.00% Floor + 1.75%), 5.91%, 01/31/31<br>|  | 37 | &nbsp;&nbsp; 36821 |
| &nbsp;&nbsp;&nbsp; NRG Energy, Inc., 2024 Term Loan, (3-mo. CME Term <br> SOFR at 0.00% Floor + 1.75%), 6.06%, 04/16/31<br>|  | 164 | &nbsp;&nbsp; 163721 |
|  |  |  | &nbsp;&nbsp; 284262 |
| **Industrial Conglomerates — 0.1%** | **Industrial Conglomerates — 0.1%** | **Industrial Conglomerates — 0.1%** | **Industrial Conglomerates — 0.1%** |
| &nbsp;&nbsp;&nbsp; Nxgen Buyer, Inc., 2025 12th Amendment Incremental <br> Term Loan, (1-mo. CME Term SOFR at 1.00% Floor + <br> 4.75%), 8.91%, 11/01/27<br>|  | 274 | &nbsp;&nbsp; 272570 |
| &nbsp;&nbsp;&nbsp; Stitch Acquisition Corp., 2024 2nd Out Term Loan, (3-mo. <br> CME Term SOFR + 7.50%), 11.76%, 12/31/29<br>|  | 26 | &nbsp;&nbsp; 21353 |
|  |  |  | &nbsp;&nbsp; 293923 |
| **Insurance — 1.8%** | **Insurance — 1.8%** | **Insurance — 1.8%** | **Insurance — 1.8%** |
| &nbsp;&nbsp;&nbsp; Alliant Holdings Intermediate LLC, 2025 Term Loan B, <br> (1-mo. CME Term SOFR at 0.00% Floor + 2.50%), <br> 6.67%, 09/19/31<br>|  | 345 | &nbsp;&nbsp; 344146 |
| &nbsp;&nbsp;&nbsp; AmWINS Group, Inc., 2025 Term Loan B, (3-mo. CME <br> Term SOFR at 0.75% Floor + 2.25%), 6.25%, <br> 01/30/32<br>|  | 161 | &nbsp;&nbsp; 160679 |
| &nbsp;&nbsp;&nbsp; Amynta Agency Borrower, Inc., 2025 Term Loan B, (1-<br> mo. CME Term SOFR at 0.00% Floor + 2.75%), <br> 6.91%, 12/29/31<br>|  | 108 | &nbsp;&nbsp; 107937 |
| &nbsp;&nbsp;&nbsp; Ardonagh Group Finco Pty. Ltd., 2024 USD Term Loan B, <br> (3-mo. CME Term SOFR at 0.00% Floor + 2.75%), <br> 6.94%, 02/15/31<br>|  | 102 | &nbsp;&nbsp; 101888 |
| Asurion LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 2nd Lien Term Loan B3, (1-mo. CME Term <br> SOFR + 5.36%), 9.53%, 01/31/28<br>|  | 76 | &nbsp;&nbsp; 73910 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 Term Loan B11, (1-mo. CME Term SOFR at <br> 0.00% Floor + 4.35%), 8.51%, 08/19/28<br>|  | 59 | &nbsp;&nbsp; 59389 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B12, (1-mo. CME Term SOFR at <br> 0.00% Floor + 4.25%), 8.41%, 09/19/30<br>|  | 15 | &nbsp;&nbsp; 14862 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B13, (1-mo. CME Term SOFR at <br> 0.00% Floor + 4.25%), 8.41%, 09/19/30<br>|  | 126 | &nbsp;&nbsp; 125432 |
| &nbsp;&nbsp;&nbsp; Baldwin Insurance Group Holdings LLC, 2025 Term Loan <br> B2, (3-mo. CME Term SOFR at 0.00% Floor + 2.50%), <br> 6.64%, 05/26/31<br>|  | 48 | &nbsp;&nbsp; 48194 |
| Higginbotham Insurance Agency, Inc.<sup>(e)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 5th Amendment Term Loan, (1-mo. CME Term <br> SOFR at 1.00% Floor + 4.50%), 8.67%, 11/24/28<br>|  | 2397 | &nbsp;&nbsp; 2396561 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Amendment No 4 Delayed Draw Term Loan, <br> (1-mo. CME Term SOFR at 1.00% Floor + 4.75%), <br> 8.91%, 11/24/28<br>|  | 1458 | &nbsp;&nbsp; 1458388 |
| &nbsp;&nbsp;&nbsp; Howden Group Holdings Ltd., 2024 USD Term Loan B, <br> (1-mo. CME Term SOFR at 0.50% Floor + 3.50%), <br> 7.66%, 04/18/30<br>|  | 9 | &nbsp;&nbsp; 8946 |
| &nbsp;&nbsp;&nbsp; HUB International Ltd., 2025 Term Loan B, (3-mo. CME <br> Term SOFR at 0.00% Floor + 2.25%), 6.58%, <br> 06/20/30<br>|  | 211 | &nbsp;&nbsp; 211400 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Insurance (continued)** | **Insurance (continued)** | **Insurance (continued)** | **Insurance (continued)** |
| &nbsp;&nbsp;&nbsp; Hyperion Refinance SARL, 2025 USD Term Loan B, <br> (1-mo. CME Term SOFR at 0.50% Floor + 2.75%), <br> 6.91%, 02/15/31<br>| USD | 100 | &nbsp;&nbsp; $99751 |
| &nbsp;&nbsp;&nbsp; Integrity Marketing Acquisition LLC, 2024 Term Loan, <br> (3-mo. CME Term SOFR at 0.75% Floor + 5.00%), <br> 9.20%, 08/25/28<sup>(e)</sup><br>|  | 1574 | &nbsp;&nbsp; 1574158 |
| IT Parent LLC<sup>(e)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan, (3-mo. CME Term SOFR at 1.00% <br> Floor + 5.50%), 9.80%, 10/01/26<br>|  | 305 | &nbsp;&nbsp; 306371 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Revolver, (3-mo. CME Term SOFR + 5.50%), 9.91%, <br> 10/01/26<br>|  | 359 | &nbsp;&nbsp; 358618 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan, (3-mo. CME Term SOFR at 1.00% Floor + <br> 5.50%), 9.80%, 10/01/26<br>|  | 2391 | &nbsp;&nbsp; 2403041 |
| &nbsp;&nbsp;&nbsp; Jones Deslauriers Insurance Management, Inc., <br> 2025 Term Loan B, (3-mo. CME Term SOFR at 0.00% <br> Floor + 2.75%), 7.06%, 03/15/30<br>|  | 51 | &nbsp;&nbsp; 51080 |
| &nbsp;&nbsp;&nbsp; OneDigital Borrower LLC, 2025 Repriced Term Loan, <br> (1-mo. CME Term SOFR at 0.50% Floor + 3.00%), <br> 7.16%, 07/02/31<br>|  | 13 | &nbsp;&nbsp; 12951 |
| &nbsp;&nbsp;&nbsp; Ryan Specialty LLC, 2024 USD Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 2.00%), 6.16%, <br> 09/15/31<br>|  | 132 | &nbsp;&nbsp; 131817 |
| &nbsp;&nbsp;&nbsp; Sedgwick Claims Management Services, Inc., 2023 Term <br> Loan B, (1-mo. CME Term SOFR at 0.00% Floor + <br> 2.50%), 6.66%, 07/31/31<br>|  | 178 | &nbsp;&nbsp; 178158 |
| Truist Insurance Holdings LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, (3-mo. CME Term SOFR at 0.00% <br> Floor + 2.75%), 6.75%, 05/06/31<br>|  | 205 | &nbsp;&nbsp; 204173 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2nd Lien Term Loan, (3-mo. CME Term SOFR at <br> 0.00% Floor + 4.75%), 8.75%, 05/06/32<br>|  | 34 | &nbsp;&nbsp; 34263 |
| USI, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan C, (3-mo. CME Term SOFR at 0.00% <br> Floor + 2.25%), 6.25%, 09/29/30<br>|  | 91 | &nbsp;&nbsp; 90583 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan D, (3-mo. CME Term SOFR at 0.00% <br> Floor + 2.25%), 6.25%, 11/21/29<br>|  | 173 | &nbsp;&nbsp; 172571 |
|  |  |  | &nbsp;&nbsp; 10729267 |
| **Interactive Media & Services — 1.7%** | **Interactive Media & Services — 1.7%** | **Interactive Media & Services — 1.7%** | **Interactive Media & Services — 1.7%** |
| &nbsp;&nbsp;&nbsp; Delivery Hero Finco LLC, 2024 USD Term Loan B, (3-<br> mo. CME Term SOFR + 5.00%), 9.23%, 12/12/29<br>|  | 6029 | &nbsp;&nbsp; 6089459 |
| Kid Distro Holdings LLC<sup>(e)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 Incremental Term Loan, (6-mo. CME Term SOFR <br> at 1.00% Floor + 4.75%), 9.20%, 10/01/27<br>|  | 354 | &nbsp;&nbsp; 354251 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan, (6-mo. CME Term SOFR at 1.00% Floor + <br> 4.75%), 9.20%, 10/01/27<br>|  | 3255 | &nbsp;&nbsp; 3254550 |
| MH Sub I LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 Term Loan, (3-mo. CME Term SOFR at 0.50% <br> Floor + 4.25%), 8.25%, 05/03/28<br>|  | 31 | &nbsp;&nbsp; 29745 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B4, (1-mo. CME Term SOFR at <br> 0.50% Floor + 4.25%), 8.41%, 12/31/31<br>|  | 30 | &nbsp;&nbsp; 27191 |
| &nbsp;&nbsp;&nbsp; Speedster Bidco GmbH, 2024 USD Term Loan B, (3-mo. <br> CME Term SOFR at 0.50% Floor + 3.25%), 7.24%, <br> 12/10/31<br>|  | 114 | &nbsp;&nbsp; 114498 |
|  |  |  | &nbsp;&nbsp; 9869694 |
| **Internet Software & Services — 0.6%** | **Internet Software & Services — 0.6%** | **Internet Software & Services — 0.6%** | **Internet Software & Services — 0.6%** |
| &nbsp;&nbsp;&nbsp; Barracuda Networks, Inc., 2022 Term Loan, (3-mo. CME <br> Term SOFR at 0.50% Floor + 4.50%), 8.81%, <br> 08/15/29<br>|  | 56 | &nbsp;&nbsp; 47208 |
| &nbsp;&nbsp;&nbsp; CNT Holdings I Corp., 2025 Term Loan, (3-mo. CME <br> Term SOFR at 0.75% Floor + 2.25%), 6.56%, <br> 11/08/32<br>|  | 60 | &nbsp;&nbsp; 60090 |

---

Consolidated Schedule of Investments

------

Consolidated Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Credit Strategies Fund**

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

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Internet Software & Services (continued)** | **Internet Software & Services (continued)** | **Internet Software & Services (continued)** | **Internet Software & Services (continued)** |
| Gen Digital, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, (1-mo. CME Term SOFR + <br> 1.75%), 5.91%, 09/12/29<br>| USD | 157 | &nbsp;&nbsp; $156209 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, (1-mo. CME Term SOFR at 0.50% <br> Floor + 1.75%), 5.91%, 04/16/32<br>|  | 26 | &nbsp;&nbsp; 25812 |
| Go Daddy Operating Co. LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B7, (1-mo. CME Term SOFR + <br> 1.75%), 5.91%, 05/30/31<br>|  | 31 | &nbsp;&nbsp; 31542 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B8, (1-mo. CME Term SOFR at <br> 0.00% Floor + 1.75%), 5.91%, 11/09/29<br>|  | 82 | &nbsp;&nbsp; 81654 |
| Proofpoint, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan, (1-mo. CME Term SOFR at 0.50% <br> Floor + 3.00%), 7.16%, 08/31/28<br>|  | 152 | &nbsp;&nbsp; 152174 |
| &nbsp;&nbsp;&nbsp; 2025 Fungible Term Loan, 08/31/28<sup>(o)</sup> |  | 16 | &nbsp;&nbsp; 16042 |
| &nbsp;&nbsp;&nbsp; StubHub Holdco Sub LLC, 2024 Extended Term Loan B, <br> (1-mo. CME Term SOFR + 4.75%), 8.91%, 03/15/30<br>|  | 1912 | &nbsp;&nbsp; 1891932 |
| Thrasio LLC<sup>(e)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 1st Out Take Back Term Loan, (3-mo. CME Term <br> SOFR + 10.00%), 14.58%, 06/18/29<br>|  | 438 | &nbsp;&nbsp; 372133 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 2nd Out Take Back Term Loan, (Defaulted), <br> 0.00%, 06/18/29<sup>(d)(m)</sup><br>|  | 1270 | &nbsp;&nbsp; 955351 |
|  |  |  | &nbsp;&nbsp; 3790147 |
| **IT Services — 6.1%** | **IT Services — 6.1%** | **IT Services — 6.1%** | **IT Services — 6.1%** |
| Acquia, Inc.<sup>(e)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Revolver, (3-mo. CME Term SOFR at 1.00% Floor + <br> 6.00%), 10.45%, 10/30/26<br>|  | 36 | &nbsp;&nbsp; 35951 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan, (3-mo. CME Term SOFR at 1.00% Floor + <br> 6.00%), 10.43%, 10/30/26<br>|  | 481 | &nbsp;&nbsp; 480902 |
| &nbsp;&nbsp;&nbsp; Amentum Holdings, Inc., 2024 Term Loan B, (1-mo. CME <br> Term SOFR at 0.00% Floor + 2.25%), 6.41%, <br> 09/29/31<br>|  | 62 | &nbsp;&nbsp; 61527 |
| &nbsp;&nbsp;&nbsp; Applause App Quality, Inc., 2024 7th Amendment <br> Refinancing Term Loan, (3-mo. CME Term SOFR at <br> 1.50% Floor + 5.75%), 9.76%, 10/24/29<sup>(e)</sup><br>|  | 81 | &nbsp;&nbsp; 80323 |
| &nbsp;&nbsp;&nbsp; Arctera U.S. Holdings LLC, 2024 Priority Term Loan, <br> (3-mo. CME Term SOFR at 2.50% Floor + 8.00%, <br> 4.50% PIK), 12.00%, 12/09/29<sup>(h)</sup><br>|  | 4297 | &nbsp;&nbsp; 4336658 |
| Avalara, Inc., 2025 Term Loan, 03/26/32<sup>(o)</sup> |  | 6 | &nbsp;&nbsp; 5983 |
| &nbsp;&nbsp;&nbsp; Aventiv Technologies LLC, 2025 5th Amendment <br> Incremental Bridge Loan, (3-mo. CME Term SOFR at <br> 1.00% Floor + 10.26%), 14.58%, 03/25/26<br>|  | 3000 | &nbsp;&nbsp; 3135000 |
| Bynder Holding BV<sup>(e)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan Tranche A, (6-mo. CME Term SOFR at <br> 1.00% Floor + 6.00%), 10.14%, 01/26/29<br>|  | 15 | &nbsp;&nbsp; 15019 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan Tranche B, (6-mo. CME Term SOFR at <br> -5.00% Floor + 6.00%), 10.14%, 01/26/29<br>|  | 54 | &nbsp;&nbsp; 54444 |
| &nbsp;&nbsp;&nbsp; Capstone Borrower, Inc., 2025 Term Loan B, (3-mo. CME <br> Term SOFR at 0.00% Floor + 2.75%), 6.75%, <br> 06/17/30<br>|  | 63 | &nbsp;&nbsp; 63236 |
| &nbsp;&nbsp;&nbsp; CivicPlus LLC, 2025 Refinancing Term Loan, (3-mo. <br> CME Term SOFR at 0.75% Floor + 5.50%), 9.70%, <br> 08/23/30<sup>(e)</sup><br>|  | 1852 | &nbsp;&nbsp; 1838315 |
| &nbsp;&nbsp;&nbsp; Clever Devices Ltd., Revolver, (1-mo. CME Term SOFR <br> + 6.00%), 10.16%, 06/12/30<sup>(e)</sup><br>|  | 148 | &nbsp;&nbsp; 147594 |
| &nbsp;&nbsp;&nbsp; Clover Holdings 2 LLC, Term Loan B, (1-mo. CME Term <br> SOFR at 0.00% Floor + 3.75%), 7.94%, 12/09/31<br>|  | 180 | &nbsp;&nbsp; 180054 |
| &nbsp;&nbsp;&nbsp; Dayforce, Inc., 2025 Term Loan B, (3-mo. CME Term <br> SOFR at 0.00% Floor + 2.00%), 6.31%, 03/01/31<sup>(e)</sup><br>|  | 120 | &nbsp;&nbsp; 119527 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **IT Services (continued)** | **IT Services (continued)** | **IT Services (continued)** | **IT Services (continued)** |
| Docupace Technologies LLC<sup>(e)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Delayed Draw Term Loan B, (3-mo. CME Term SOFR <br> + 5.75%), 10.05%, 07/15/30<br>| USD | 54 | &nbsp;&nbsp; $53080 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIK Delayed Draw Term Loan, (3-mo. CME Term <br> SOFR + 5.75%), 9.91%, 07/15/30<br>|  | 127 | &nbsp;&nbsp; 125471 |
| &nbsp;&nbsp;&nbsp; Elastic Path Software, Inc., Term Loan, (3-mo. CME Term <br> SOFR at 1.00% Floor + 7.50%), 12.04%, 01/05/26<sup>(e)</sup><br>|  | 1342 | &nbsp;&nbsp; 1342496 |
| &nbsp;&nbsp;&nbsp; Finastra USA, Inc., 2025 1st Lien Term Loan, (3-mo. <br> CME Term SOFR at 0.00% Floor + 4.00%), 8.04%, <br> 07/30/32<br>|  | 195 | &nbsp;&nbsp; 194095 |
| &nbsp;&nbsp;&nbsp; Fortress Intermediate 3, Inc., 2025 Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 3.00%), 7.25%, <br> 06/27/31<br>|  | 29 | &nbsp;&nbsp; 28854 |
| G-3 Apollo Acquisition Corp.<sup>(e)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Revolver, (3-mo. CME Term SOFR at 1.00% Floor + <br> 5.00%), 9.12%, 03/10/31<br>|  | 1 | &nbsp;&nbsp; 950 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan, (3-mo. CME Term SOFR at 1.00% Floor + <br> 5.00%), 9.07%, 03/10/31<br>|  | 66 | &nbsp;&nbsp; 66367 |
| &nbsp;&nbsp;&nbsp; Honey Intermediate, Inc., Term Loan, (1-mo. CME Term <br> SOFR + 2.88%, 3.38% PIK), 10.41%, 09/30/31<sup>(e)(h)</sup><br>|  | 91 | &nbsp;&nbsp; 89842 |
| &nbsp;&nbsp;&nbsp; Huckabee Acquisition LLC, Term Loan, (3-mo. CME Term <br> SOFR at 1.00% Floor + 5.25%), 9.31%, 01/16/30<sup>(e)</sup><br>|  | 73 | &nbsp;&nbsp; 73081 |
| Integratecom, Inc.<sup>(e)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Delayed Draw Term Loan, (3-mo. CME Term SOFR at <br> 1.00% Floor + 6.75%), 10.90%, 12/15/27<br>|  | 103 | &nbsp;&nbsp; 99106 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Revolver, (3-mo. CME Term SOFR at 1.00% Floor + <br> 6.75%), 10.90%, 12/15/27<br>|  | 134 | &nbsp;&nbsp; 128699 |
| &nbsp;&nbsp;&nbsp; Intercept Bidco, Inc., Term Loan, (3-mo. CME Term <br> SOFR at 1.00% Floor + 6.00%), 10.17%, 06/03/30<sup>(e)</sup><br>|  | 3611 | &nbsp;&nbsp; 3567778 |
| Lightspeed Solution LLC<sup>(e)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 2nd Amendment Incremental Term Loan, (1-mo. <br> CME Term SOFR + 6.00%), 10.17%, 03/01/28<br>|  | 92 | &nbsp;&nbsp; 91183 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Delayed Draw Term Loan, (1-mo. CME Term SOFR at <br> 0.75% Floor + 6.00%), 10.17%, 03/01/28<br>|  | 28 | &nbsp;&nbsp; 27337 |
| &nbsp;&nbsp;&nbsp; LogicMonitor, Inc., 2024 Term Loan, (3-mo. CME Term <br> SOFR at 0.75% Floor + 5.50%), 9.81%, 11/19/31<sup>(e)</sup><br>|  | 81 | &nbsp;&nbsp; 80259 |
| &nbsp;&nbsp;&nbsp; Madison Logic Holdings, Inc., Term Loan, (1-mo. CME <br> Term SOFR + 7.50%), 11.66%, 12/30/28<sup>(e)</sup><br>|  | 88 | &nbsp;&nbsp; 82999 |
| Magenta Security Holdings LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 First Out Term Loan, (3-mo. CME Term SOFR at <br> 0.75% Floor + 7.01%), 11.32%, 07/27/28<br>|  | 19 | &nbsp;&nbsp; 15250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Second Out Term Loan, (3-mo. CME Term <br> SOFR at 0.75% Floor + 7.26%), 11.57%, 07/27/28<br>|  | 316 | &nbsp;&nbsp; 136650 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Super Priority Term Loan, (3-mo. CME Term <br> SOFR at 1.00% Floor + 6.25%), 10.56%, 07/27/28<br>|  | 9385 | &nbsp;&nbsp; 9501081 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Third Out Term Loan, (Defaulted), 0.00%, <br> 07/27/28<sup>(d)(m)</sup><br>|  | 1256 | &nbsp;&nbsp; 250124 |
| &nbsp;&nbsp;&nbsp; McAfee Corp., 2024 USD 1st Lien Term Loan B, (1-mo. <br> CME Term SOFR at 0.50% Floor + 3.00%), 7.22%, <br> 03/01/29<br>|  | 92 | &nbsp;&nbsp; 87352 |
| &nbsp;&nbsp;&nbsp; Oak Purchaser, Inc., Revolver, (6-mo. CME Term SOFR <br> at 0.75% Floor + 5.50%), 14.50%, 05/31/28<sup>(e)</sup><br>|  | 19 | &nbsp;&nbsp; 19189 |
| &nbsp;&nbsp;&nbsp; Peraton Corp., Term Loan B, (1-mo. CME Term SOFR at <br> 0.75% Floor + 3.85%), 8.01%, 02/01/28<br>|  | 89 | &nbsp;&nbsp; 74564 |
| &nbsp;&nbsp;&nbsp; Persado, Inc., Term Loan, (1-mo. CME Term SOFR at <br> 1.80% Floor + 7.50%), 11.78%, 06/10/27<sup>(e)</sup><br>|  | 87 | &nbsp;&nbsp; 93363 |
| &nbsp;&nbsp;&nbsp; Pluralsight, Inc., 2024 First Priority Term Loan, (3-mo. <br> CME Term SOFR at 1.00% Floor + 3.00%, 1.50% <br> PIK), 8.70%, 08/22/29<sup>(e)(h)</sup><br>|  | 423 | &nbsp;&nbsp; 423346 |

---

------

Consolidated Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Credit Strategies Fund**

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

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **IT Services (continued)** | **IT Services (continued)** | **IT Services (continued)** | **IT Services (continued)** |
| &nbsp;&nbsp;&nbsp; Polaris Newco LLC, USD Term Loan B, (3-mo. CME <br> Term SOFR at 0.50% Floor + 4.26%), 8.57%, <br> 06/02/28<br>| USD | 76 | &nbsp;&nbsp; $73352 |
| &nbsp;&nbsp;&nbsp; Project Alpha Intermediate Holding, Inc., 2024 1st Lien <br> Term Loan B, (3-mo. CME Term SOFR at 0.50% Floor <br> + 3.25%), 7.25%, 10/26/30<br>|  | 43 | &nbsp;&nbsp; 42843 |
| &nbsp;&nbsp;&nbsp; Quartz Acquireco LLC, 2025 Term Loan B, (3-mo. CME <br> Term SOFR at 0.00% Floor + 2.25%), 6.25%, <br> 06/28/30<br>|  | 72 | &nbsp;&nbsp; 71624 |
| &nbsp;&nbsp;&nbsp; Serrano Parent LLC, Term Loan, (6-mo. CME Term <br> SOFR at 1.00% Floor + 6.50%), 10.71%, 05/13/30<sup>(e)</sup><br>|  | 90 | &nbsp;&nbsp; 87120 |
| &nbsp;&nbsp;&nbsp; Skopima Consilio Parent LLC, 2024 Repriced Term Loan, <br> (1-mo. CME Term SOFR at 0.50% Floor + 3.75%), <br> 7.91%, 05/12/28<br>|  | 43 | &nbsp;&nbsp; 36057 |
| &nbsp;&nbsp;&nbsp; SMX Group LLC, Term Loan, (1-mo. CME Term SOFR at <br> 0.00% Floor + 4.50%), 8.66%, 02/06/32<br>|  | 2456 | &nbsp;&nbsp; 2465618 |
| Suited Connector LLC<sup>(e)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Revolver, (3-mo. CME Term SOFR at 1.00% Floor + <br> 6.00%), 10.40%, 12/01/27<br>|  | 421 | &nbsp;&nbsp; 290390 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan, (3-mo. CME Term SOFR + 7.00%), <br> 11.43%, 12/01/27<br>|  | 2725 | &nbsp;&nbsp; 1880502 |
| &nbsp;&nbsp;&nbsp; Tempo Acquisition LLC, 2025 Repriced Term Loan B, <br> (1-mo. CME Term SOFR at 0.00% Floor + 1.75%), <br> 5.91%, 08/31/28<br>|  | 49 | &nbsp;&nbsp; 47828 |
| &nbsp;&nbsp;&nbsp; X Corp., Term Loan, (3-mo. CME Term SOFR at 0.50% <br> Floor + 6.65%), 10.96%, 10/26/29<br>|  | 4134 | &nbsp;&nbsp; 4051938 |
|  |  |  | &nbsp;&nbsp; 36254321 |
| **Leisure Products — 0.0%** | **Leisure Products — 0.0%** | **Leisure Products — 0.0%** | **Leisure Products — 0.0%** |
| &nbsp;&nbsp;&nbsp; Bombardier Recreational Products, Inc., 2024 Term Loan <br> B4, 01/22/31<sup>(o)</sup><br>|  | 26 | &nbsp;&nbsp; 26016 |
| &nbsp;&nbsp;&nbsp; City Football Group Ltd., 2024 Term Loan, (1-mo. CME <br> Term SOFR at 0.50% Floor + 3.61%), 7.70%, <br> 07/22/30<br>|  | 61 | &nbsp;&nbsp; 60832 |
|  |  |  | &nbsp;&nbsp; 86848 |
| **Machinery — 1.2%** | **Machinery — 1.2%** | **Machinery — 1.2%** | **Machinery — 1.2%** |
| &nbsp;&nbsp;&nbsp; Arcline FM Holdings LLC, 2025 Term Loan, (6-mo. CME <br> Term SOFR at 0.75% Floor + 3.50%), 7.58%, <br> 06/24/30<br>|  | 2540 | &nbsp;&nbsp; 2537654 |
| &nbsp;&nbsp;&nbsp; Chart Industries, Inc., 2024 Term Loan B, (3-mo. CME <br> Term SOFR + 2.50%), 6.79%, 03/15/30<br>|  | 22 | &nbsp;&nbsp; 22680 |
| &nbsp;&nbsp;&nbsp; Generac Power Systems, Inc., 2024 Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 1.75%), 6.03%, <br> 07/03/31<br>|  | 15 | &nbsp;&nbsp; 14906 |
| &nbsp;&nbsp;&nbsp; Husky Injection Molding Systems Ltd., 2024 Term Loan <br> B, (1-mo. CME Term SOFR at 0.00% Floor + 3.75%), <br> 7.75%, 02/15/29<br>|  | 221 | &nbsp;&nbsp; 221305 |
| &nbsp;&nbsp;&nbsp; Indicor LLC, 2024 USD 1st Lien Term Loan B, (3-mo. <br> CME Term SOFR at 0.50% Floor + 2.75%), 6.75%, <br> 11/22/29<br>|  | 36 | &nbsp;&nbsp; 35930 |
| &nbsp;&nbsp;&nbsp; Madison Safety & Flow LLC, 2025 Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 2.75%), 6.91%, <br> 09/26/31<br>|  | 24 | &nbsp;&nbsp; 24009 |
| Sonny's Enterprises LLC<sup>(e)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 Restatement Date Term Loan, (3-mo. CME Term <br> SOFR at 1.00% Floor + 5.50%), 9.89%, 08/05/28<br>|  | 3767 | &nbsp;&nbsp; 3601313 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 1st Amendment Delayed Draw Term Loan, (3-<br> mo. CME Term SOFR at 1.00% Floor + 5.50%), <br> 9.96%, 08/05/28<br>|  | 93 | &nbsp;&nbsp; 88900 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Machinery (continued)** | **Machinery (continued)** | **Machinery (continued)** | **Machinery (continued)** |
| &nbsp;&nbsp;&nbsp; SPX Flow, Inc., 2025 Term Loan, (1-mo. CME Term <br> SOFR at 0.50% Floor + 2.75%), 6.91%, 04/05/29<br>| USD | 134 | &nbsp;&nbsp; $134465 |
| &nbsp;&nbsp;&nbsp; TK Elevator U.S. Newco, Inc., 2025 USD Term Loan B, <br> (6-mo. CME Term SOFR at 0.50% Floor + 3.00%), <br> 7.20%, 04/30/30<br>|  | 124 | &nbsp;&nbsp; 124647 |
| &nbsp;&nbsp;&nbsp; Vertiv Group Corp., 2025 Term Loan, (1-mo. CME Term <br> SOFR at 0.00% Floor + 1.75%), 6.03%, 08/12/32<br>|  | 191 | &nbsp;&nbsp; 191091 |
| &nbsp;&nbsp;&nbsp; WEC U.S. Holdings, Inc., 2024 Term Loan, (1-mo. CME <br> Term SOFR at 0.00% Floor + 2.25%), 6.53%, <br> 01/27/31<br>|  | 93 | &nbsp;&nbsp; 93325 |
|  |  |  | &nbsp;&nbsp; 7090225 |
| **Media — 1.2%** | **Media — 1.2%** | **Media — 1.2%** | **Media — 1.2%** |
| Charter Communications Operating LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 Term Loan B4, (3-mo. CME Term SOFR at <br> 0.00% Floor + 2.00%), 6.29%, 12/07/30<br>|  | 54 | &nbsp;&nbsp; 54281 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B5, (3-mo. CME Term SOFR at <br> 0.00% Floor + 2.25%), 6.54%, 12/15/31<br>|  | 43 | &nbsp;&nbsp; 42775 |
| &nbsp;&nbsp;&nbsp; Crown Finance U.S., Inc., 2025 Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 4.50%), 8.78%, <br> 12/02/31<br>|  | 50 | &nbsp;&nbsp; 49558 |
| CSC Holdings LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2019 Term Loan B5, (Prime + 1.50%), 8.75%, <br> 04/15/27<br>|  | 143 | &nbsp;&nbsp; 137880 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 Term Loan B6, (1-mo. CME Term SOFR at <br> 0.00% Floor + 4.50%), 8.65%, 01/18/28<br>|  | 4018 | &nbsp;&nbsp; 3989356 |
| &nbsp;&nbsp;&nbsp; DirecTV Financing LLC, Term Loan, (3-mo. CME Term <br> SOFR at 0.75% Floor + 5.26%), 9.57%, 08/02/27<br>|  | 6 | &nbsp;&nbsp; 6213 |
| &nbsp;&nbsp;&nbsp; DK Crown Holdings, Inc., 2025 Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 1.75%), 6.00%, <br> 03/04/32<br>|  | 95 | &nbsp;&nbsp; 94348 |
| &nbsp;&nbsp;&nbsp; ECL Entertainment LLC, 2025 Term Loan B, (1-mo. CME <br> Term SOFR at 0.00% Floor + 3.00%), 7.16%, <br> 08/30/30<br>|  | 32 | &nbsp;&nbsp; 31526 |
| &nbsp;&nbsp;&nbsp; Gray Television, Inc., 2024 Term Loan B, (1-mo. CME <br> Term SOFR + 5.25%), 9.53%, 06/04/29<br>|  | — <br><sup>(n)</sup><br>| &nbsp;&nbsp; 300 |
| &nbsp;&nbsp;&nbsp; GVC Holdings Gibraltar Ltd., 2025 Term Loan B5 (2032), <br> 07/31/32<sup>(o)</sup><br>|  | 16 | &nbsp;&nbsp; 15968 |
| &nbsp;&nbsp;&nbsp; Learfield Communications LLC, 2024 Term Loan B, (1-<br> mo. CME Term SOFR at 0.00% Floor + 4.50%), <br> 8.66%, 06/30/28<br>|  | 41 | &nbsp;&nbsp; 41106 |
| &nbsp;&nbsp;&nbsp; Live Nation Entertainment, Inc., Term Loan B4, (1-mo. <br> CME Term SOFR at 0.00% Floor + 1.85%), 5.99%, <br> 10/19/26<br>|  | 78 | &nbsp;&nbsp; 78051 |
| MSM Acquisitions, Inc.<sup>(e)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 Delayed Draw Term Loan, (3-mo. CME Term <br> SOFR at 1.00% Floor + 6.00%), 10.20%, 12/09/26<br>|  | 83 | &nbsp;&nbsp; 74036 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Delayed Draw Term Loan, (3-mo. CME Term SOFR at <br> 1.00% Floor + 6.00%), 10.20%, 12/09/26<br>|  | 359 | &nbsp;&nbsp; 318952 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Revolver, (3-mo. CME Term SOFR + 6.00%), 10.20%, <br> 12/09/26<br>|  | 135 | &nbsp;&nbsp; 120361 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan, (3-mo. CME Term SOFR at 1.00% Floor + <br> 6.00%), 10.20%, 12/09/26<br>|  | 1088 | &nbsp;&nbsp; 967340 |
| NEP Group, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2018 1st Lien Term Loan, (1-mo. CME Term SOFR at <br> 0.00% Floor + 3.36%), 7.53%, 08/19/26<br>|  | 10 | &nbsp;&nbsp; 9900 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2018 2nd Lien Term Loan, (3-mo. CME Term SOFR at <br> 0.00% Floor + 7.00%), 11.46%, 10/19/26<sup>(e)</sup><br>|  | 141 | &nbsp;&nbsp; 135542 |

---

Consolidated Schedule of Investments

------

Consolidated Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Credit Strategies Fund**

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

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Media (continued)** | **Media (continued)** | **Media (continued)** | **Media (continued)** |
| &nbsp;&nbsp;&nbsp; Radiate Holdco LLC, 2025 FLFO Term Loan, (1-mo. <br> CME Term SOFR at 0.00% Floor + 3.61%, 1.50% <br> PIK), 9.28%, 09/25/29<sup>(h)</sup><br>| USD | 188 | &nbsp;&nbsp; $151027 |
| &nbsp;&nbsp;&nbsp; Scientific Games Holdings LP, 2024 USD Term Loan B, <br> (3-mo. CME Term SOFR at 0.50% Floor + 3.00%), <br> 7.29%, 04/04/29<br>|  | 36 | &nbsp;&nbsp; 35398 |
| Streamland Media Midco LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 2nd Amendment First Out Delayed Draw TL, <br> (3-mo. CME Term SOFR at 1.00% Floor + 5.50%), <br> 9.82%, 04/02/29<br>|  | 2 | &nbsp;&nbsp; 2438 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 2nd Amendment First Out Term Loan, (3-mo. <br> CME Term SOFR at 1.00% Floor + 4.50%, 1.00% <br> PIK), 9.76%, 04/02/29<sup>(e)(h)</sup><br>|  | 31 | &nbsp;&nbsp; 30503 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 2nd Amendment Last Out Term Loan, <br> (Defaulted), 0.00%, 04/02/29<sup>(e)</sup><br>|  | 27 | &nbsp;&nbsp; 23301 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Revolver, (3-mo. CME Term SOFR at 1.00% <br> Floor + 5.50%), 10.00%, 04/02/29<sup>(e)</sup><br>|  | 4 | &nbsp;&nbsp; 4243 |
| &nbsp;&nbsp;&nbsp; Telenet Financing USD LLC, 2020 USD Term Loan AR, <br> 04/30/28<sup>(o)</sup><br>|  | 15 | &nbsp;&nbsp; 14866 |
| &nbsp;&nbsp;&nbsp; UFC Holdings LLC, 1st Lien Term Loan B5, (3-mo. CME <br> Term SOFR at 0.00% Floor + 2.00%), 6.04%, <br> 11/21/31<br>|  | 174 | &nbsp;&nbsp; 174121 |
| &nbsp;&nbsp;&nbsp; Virgin Media Bristol LLC, 2020 USD Term Loan Q, (1-mo. <br> CME Term SOFR + 3.36%), 7.51%, 01/31/29<br>|  | 78 | &nbsp;&nbsp; 77925 |
| &nbsp;&nbsp;&nbsp; WMG Acquisition Corp., 2024 Term Loan J, (3-mo. CME <br> Term SOFR at 0.00% Floor + 1.75%), 5.95%, <br> 01/24/31<br>|  | 165 | &nbsp;&nbsp; 165602 |
| &nbsp;&nbsp;&nbsp; Ziggo Financing Partnership, USD Term Loan I, (1-mo. <br> CME Term SOFR at 0.00% Floor + 2.61%), 6.76%, <br> 04/30/28<br>|  | 49 | &nbsp;&nbsp; 49342 |
|  |  |  | &nbsp;&nbsp; 6896259 |
| **Metals & Mining — 0.7%** | **Metals & Mining — 0.7%** | **Metals & Mining — 0.7%** | **Metals & Mining — 0.7%** |
| &nbsp;&nbsp;&nbsp; AZZ, Inc., Term Loan B, (1-mo. CME Term SOFR + <br> 1.75%), 5.91%, 05/13/29<br>|  | 15 | &nbsp;&nbsp; 14646 |
| &nbsp;&nbsp;&nbsp; Covia Holdings LLC, 2025 Repriced Term Loan B, (3-mo. <br> CME Term SOFR at 0.00% Floor + 2.75%), 6.95%, <br> 02/26/32<br>|  | 20 | &nbsp;&nbsp; 20025 |
| &nbsp;&nbsp;&nbsp; Novelis Holdings, Inc., 2025 Term Loan B, (3-mo. CME <br> Term SOFR at 0.00% Floor + 1.75%), 5.75%, <br> 03/11/32<br>|  | 124 | &nbsp;&nbsp; 124558 |
| &nbsp;&nbsp;&nbsp; Trulite Holding Corp., Term Loan, (3-mo. CME Term <br> SOFR + 6.00%), 10.29%, 03/01/30<sup>(e)</sup><br>|  | 4010 | &nbsp;&nbsp; 3990365 |
|  |  |  | &nbsp;&nbsp; 4149594 |
| **Mortgage Real Estate Investment Trusts (REITs) — 0.5%** | **Mortgage Real Estate Investment Trusts (REITs) — 0.5%** | **Mortgage Real Estate Investment Trusts (REITs) — 0.5%** | **Mortgage Real Estate Investment Trusts (REITs) — 0.5%** |
| &nbsp;&nbsp;&nbsp; Greystone Affordable Housing Initiatives LLC, Delayed <br> Draw Term Loan, (6-mo. CME Term SOFR at 1.25% <br> Floor + 6.00%), 10.63%, 03/02/26<sup>(e)</sup><br>|  | 2800 | &nbsp;&nbsp; 2763600 |
| **Oil, Gas & Consumable Fuels — 0.1%** | **Oil, Gas & Consumable Fuels — 0.1%** | **Oil, Gas & Consumable Fuels — 0.1%** | **Oil, Gas & Consumable Fuels — 0.1%** |
| Buckeye Partners LP |  |  |  |
| &nbsp;&nbsp;&nbsp; 2025 Term Loan B, 09/24/32<sup>(o)</sup> |  | 6 | &nbsp;&nbsp; 5977 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B2, (1-mo. CME Term SOFR at <br> 0.00% Floor + 1.75%), 5.91%, 11/22/30<br>|  | 15 | &nbsp;&nbsp; 14930 |
| &nbsp;&nbsp;&nbsp; Colossus Acquireco LLC, Term Loan B, (3-mo. SOFR + <br> 1.75%), 5.87%, 07/30/32<br>|  | 82 | &nbsp;&nbsp; 81474 |
| &nbsp;&nbsp;&nbsp; EG America LLC, 2025 USD Repriced Term Loan, (3-mo. <br> CME Term SOFR at 0.00% Floor + 3.50%), 7.70%, <br> 02/07/28<br>|  | 17 | &nbsp;&nbsp; 16908 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Oil, Gas & Consumable Fuels (continued)** | **Oil, Gas & Consumable Fuels (continued)** | **Oil, Gas & Consumable Fuels (continued)** | **Oil, Gas & Consumable Fuels (continued)** |
| &nbsp;&nbsp;&nbsp; Freeport LNG Investments LLLP, 2025 Term Loan B, <br> (3-mo. CME Term SOFR at 0.50% Floor + 3.25%), <br> 7.58%, 12/21/28<br>| USD | 103 | &nbsp;&nbsp; $103401 |
| &nbsp;&nbsp;&nbsp; GIP Pilot Acquisition Partners LP, 2025 Term Loan B, <br> (3-mo. CME Term SOFR at 0.00% Floor + 2.00%), <br> 6.29%, 10/04/30<br>|  | 12 | &nbsp;&nbsp; 11523 |
| &nbsp;&nbsp;&nbsp; Hilcorp Energy I LP, Term Loan B, (1-mo. CME Term <br> SOFR at 0.00% Floor + 2.00%), 6.15%, 02/11/30<br>|  | 40 | &nbsp;&nbsp; 39800 |
| &nbsp;&nbsp;&nbsp; M6 ETX Holdings II Midco LLC, 2025 Term Loan B, <br> (Prime + 2.00%), 9.25%, 04/01/32<br>|  | 30 | &nbsp;&nbsp; 29925 |
| &nbsp;&nbsp;&nbsp; Murphy USA, Inc., Term Loan B, (1-mo. CME Term <br> SOFR at 0.50% Floor + 1.75%), 6.03%, 04/07/32<br>|  | 16 | &nbsp;&nbsp; 16117 |
| &nbsp;&nbsp;&nbsp; Oryx Midstream Services Permian Basin LLC, 2025 Term <br> Loan B, (1-mo. CME Term SOFR at 0.50% Floor + <br> 2.25%), 6.42%, 10/05/28<br>|  | 129 | &nbsp;&nbsp; 128985 |
| &nbsp;&nbsp;&nbsp; Palmdale Oil Co, Inc., Term Loan, (1-mo. CME Term <br> SOFR at 1.00% Floor + 6.75%), 10.90%, 10/02/29<sup>(e)</sup><br>|  | 98 | &nbsp;&nbsp; 98250 |
| &nbsp;&nbsp;&nbsp; Stakeholder Midstream LLC, Term Loan, (3-mo. CME <br> Term SOFR at 0.00% Floor + 4.00%), 8.04%, <br> 01/01/31<br>|  | 30 | &nbsp;&nbsp; 29962 |
| &nbsp;&nbsp;&nbsp; Whitewater Matterhorn Holdings LLC, 2025 Term Loan B, <br> (3-mo. CME Term SOFR at 0.00% Floor + 2.25%), <br> 6.25%, 06/16/32<br>|  | 12 | &nbsp;&nbsp; 11987 |
|  |  |  | &nbsp;&nbsp; 589239 |
| **Paper & Forest Products — 0.0%** | **Paper & Forest Products — 0.0%** | **Paper & Forest Products — 0.0%** | **Paper & Forest Products — 0.0%** |
| &nbsp;&nbsp;&nbsp; FSK Pallet Holding Corp., Term Loan, (3-mo. CME Term <br> SOFR + 6.50%), 10.98%, 12/23/26<sup>(e)</sup><br>|  | 93 | &nbsp;&nbsp; 93129 |
| **Passenger Airlines — 0.1%** | **Passenger Airlines — 0.1%** | **Passenger Airlines — 0.1%** | **Passenger Airlines — 0.1%** |
| &nbsp;&nbsp;&nbsp; AAdvantage Loyalty IP Ltd., 2025 Term Loan B, (3-mo. <br> CME Term SOFR at 0.00% Floor + 3.25%), 7.58%, <br> 05/28/32<br>|  | 33 | &nbsp;&nbsp; 33041 |
| &nbsp;&nbsp;&nbsp; Air Canada, 2024 Term Loan B, (1-mo. CME Term SOFR <br> at 0.00% Floor + 2.00%), 6.17%, 03/21/31<br>|  | 75 | &nbsp;&nbsp; 75503 |
| American Airlines, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series AA, 2017 1st Lien Term Loan, (6-mo. CME <br> Term SOFR at 0.00% Floor + 1.85%), 5.98%, <br> 01/29/27<br>|  | 36 | &nbsp;&nbsp; 36227 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 1st Lien Term Loan, (6-mo. CME Term SOFR at <br> 0.00% Floor + 2.25%), 6.26%, 06/04/29<br>|  | 63 | &nbsp;&nbsp; 63171 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 1st Lien Term Loan B, (6-mo. CME Term SOFR <br> at 0.00% Floor + 2.25%), 6.50%, 02/15/28<br>|  | 58 | &nbsp;&nbsp; 57516 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan, (3-mo. CME Term SOFR at 0.00% <br> Floor + 2.25%), 6.58%, 04/20/28<br>|  | 44 | &nbsp;&nbsp; 43530 |
| &nbsp;&nbsp;&nbsp; JetBlue Airways Corp., 2024 Term Loan B, (3-mo. CME <br> Term SOFR at 0.50% Floor + 4.75%), 8.75%, <br> 08/27/29<br>|  | 54 | &nbsp;&nbsp; 51332 |
| &nbsp;&nbsp;&nbsp; United Airlines, Inc., 2024 1st Lien Term Loan B, (3-mo. <br> CME Term SOFR at 0.00% Floor + 2.00%), 6.20%, <br> 02/22/31<br>|  | 53 | &nbsp;&nbsp; 52857 |
|  |  |  | &nbsp;&nbsp; 413177 |
| **Personal Care Products — 0.1%** | **Personal Care Products — 0.1%** | **Personal Care Products — 0.1%** | **Personal Care Products — 0.1%** |
| &nbsp;&nbsp;&nbsp; ACP Tara Holdings, Inc., 2025 Term Loan B, <br> 09/17/32<sup>(e)(o)</sup><br>|  | 13 | &nbsp;&nbsp; 13000 |
| &nbsp;&nbsp;&nbsp; Opal U.S. LLC, USD Term Loan B, (3-mo. CME Term <br> SOFR at 0.00% Floor + 3.25%), 7.25%, 04/28/32<br>|  | 90 | &nbsp;&nbsp; 90180 |
| &nbsp;&nbsp;&nbsp; Traack Technologies, Inc., Term Loan, (6-mo. CME Term <br> SOFR + 7.50%), 11.35%, 09/15/26<sup>(e)</sup><br>|  | 400 | &nbsp;&nbsp; 396700 |
|  |  |  | &nbsp;&nbsp; 499880 |

---

------

Consolidated Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Credit Strategies Fund**

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

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Pharmaceuticals — 0.3%** | **Pharmaceuticals — 0.3%** | **Pharmaceuticals — 0.3%** | **Pharmaceuticals — 0.3%** |
| Alcami Corp.<sup>(e)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 Delayed Draw Term Loan, (1-mo. CME Term <br> SOFR at 1.00% Floor + 7.00%), 11.24%, 12/21/28<br>| USD | 5 | &nbsp;&nbsp; $5099 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 Term Loan, (3-mo. CME Term SOFR at 1.00% <br> Floor + 7.00%), 11.35%, 12/21/28<br>|  | 69 | &nbsp;&nbsp; 69274 |
| &nbsp;&nbsp;&nbsp; Amneal Pharmaceuticals LLC, 2025 Term Loan B, (1-mo. <br> CME Term SOFR at 0.50% Floor + 3.50%), 7.66%, <br> 08/01/32<br>|  | 108 | &nbsp;&nbsp; 107820 |
| &nbsp;&nbsp;&nbsp; Elanco Animal Health, Inc., Term Loan B, (1-mo. CME <br> Term SOFR + 1.85%), 6.13%, 08/01/27<br>|  | 34 | &nbsp;&nbsp; 34097 |
| &nbsp;&nbsp;&nbsp; Endo Finance Holdings, Inc., 2024 1st Lien Term Loan, <br> 04/23/31<sup>(o)</sup><br>|  | 30 | &nbsp;&nbsp; 29968 |
| Gainwell Acquisition Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2nd Lien Term Loan, (3-mo. CME Term SOFR at <br> 1.00% Floor + 8.00%), 12.39%, 10/02/28<sup>(e)</sup><br>|  | 994 | &nbsp;&nbsp; 973230 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, (3-mo. CME Term SOFR at 0.75% Floor <br> + 4.10%), 8.10%, 10/01/27<br>|  | 36 | &nbsp;&nbsp; 35895 |
| &nbsp;&nbsp;&nbsp; Jazz Financing Lux SARL, 2024 1st Lien Term Loan B2, <br> (1-mo. CME Term SOFR + 2.25%), 6.41%, 05/05/28<br>|  | 99 | &nbsp;&nbsp; 98905 |
| &nbsp;&nbsp;&nbsp; Option Care Health, Inc., 2025 Term Loan B, (1-mo. CME <br> Term SOFR at 0.00% Floor + 1.75%), 5.89%, <br> 09/16/32<br>|  | 80 | &nbsp;&nbsp; 79488 |
| &nbsp;&nbsp;&nbsp; Organon & Co., 2024 USD Term Loan, (1-mo. CME Term <br> SOFR at 0.50% Floor + 2.25%), 6.41%, 05/19/31<br>|  | 24 | &nbsp;&nbsp; 23163 |
| &nbsp;&nbsp;&nbsp; Perrigo Investments LLC, 2024 Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 2.00%), 6.16%, <br> 04/20/29<br>|  | 28 | &nbsp;&nbsp; 28012 |
| &nbsp;&nbsp;&nbsp; PRA Health Sciences, Inc., 2024 US Term Loan B, (3-<br> mo. CME Term SOFR at 0.50% Floor + 2.00%), <br> 6.00%, 07/03/28<br>|  | 6 | &nbsp;&nbsp; 6324 |
| &nbsp;&nbsp;&nbsp; Vizient, Inc., 2024 Term Loan B, (1-mo. CME Term SOFR <br> at 0.50% Floor + 1.75%), 5.91%, 08/01/31<br>|  | 21 | &nbsp;&nbsp; 20820 |
|  |  |  | &nbsp;&nbsp; 1512095 |
| **Professional Services — 4.8%** | **Professional Services — 4.8%** | **Professional Services — 4.8%** | **Professional Services — 4.8%** |
| &nbsp;&nbsp;&nbsp; Accordion Partners LLC, 2024 Term Loan, (3-mo. CME <br> Term SOFR at 0.75% Floor + 5.00%), 9.00%, <br> 11/17/31<sup>(e)</sup><br>|  | 154 | &nbsp;&nbsp; 153722 |
| &nbsp;&nbsp;&nbsp; Applause App Quality, Inc., 2024 7th Amendment <br> Refinancing Revolver, (3-mo. CME Term SOFR at <br> 1.50% Floor + 5.75%), 10.07%, 10/24/29<sup>(e)</sup><br>|  | 2 | &nbsp;&nbsp; 1606 |
| Bullhorn, Inc.<sup>(e)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2019 Revolver, (1-mo. CME Term SOFR at 1.00% <br> Floor + 5.00%), 8.89%, 10/01/29<br>|  | 37 | &nbsp;&nbsp; 36037 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 Term Loan, (1-mo. CME Term SOFR at 1.00% <br> Floor + 5.00%), 9.16%, 10/01/29<br>|  | 4064 | &nbsp;&nbsp; 4033511 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 8th Amendment Delayed Draw Term Loan 1, <br> (1-mo. CME Term SOFR + 5.00%), 9.16%, <br> 10/01/29<br>|  | 544 | &nbsp;&nbsp; 539483 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 8th Amendment Delayed Draw Term Loan 2, <br> (1-mo. CME Term SOFR at 1.00% Floor + 5.00%), <br> 9.16%, 10/01/29<br>|  | 63 | &nbsp;&nbsp; 62276 |
| Chronicle Bidco, Inc.<sup>(e)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Delayed Draw Term Loan, (3-mo. CME Term <br> SOFR at 1.00% Floor + 5.00%), 9.33%, 04/15/31<br>|  | 133 | &nbsp;&nbsp; 132870 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan, (3-mo. CME Term SOFR at 1.00% <br> Floor + 5.00%), 9.32%, 04/15/31<br>|  | 5118 | &nbsp;&nbsp; 5118345 |
| &nbsp;&nbsp;&nbsp; Compsych Investments Corp., 2024 Term Loan, (3-mo. <br> CME Term SOFR at 0.75% Floor + 4.75%), 9.08%, <br> 07/22/31<sup>(e)</sup><br>|  | 3283 | &nbsp;&nbsp; 3316055 |
| Deep Blue Operating I LLC, Term Loan, 09/17/32<sup>(o)</sup> |  | 14 | &nbsp;&nbsp; 14000 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Professional Services (continued)** | **Professional Services (continued)** | **Professional Services (continued)** | **Professional Services (continued)** |
| &nbsp;&nbsp;&nbsp; DTI Holdco, Inc., 2025 Term Loan B, (1-mo. CME Term <br> SOFR at 0.75% Floor + 4.00%), 8.16%, 04/26/29<br>| USD | 4863 | &nbsp;&nbsp; $4313090 |
| &nbsp;&nbsp;&nbsp; Employ, Inc., Term Loan, (3-mo. CME Term SOFR + <br> 7.50%), 11.73%, 08/07/28<sup>(e)</sup><br>|  | 250 | &nbsp;&nbsp; 246458 |
| HSI Halo Acquisition, Inc.<sup>(e)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Delayed Draw Term Loan, (3-mo. CME Term <br> SOFR at 0.75% Floor + 5.00%), 9.00%, 06/30/31<br>|  | 206 | &nbsp;&nbsp; 207532 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan, (3-mo. CME Term SOFR at 0.75% <br> Floor + 5.00%), 9.00%, 06/30/31<br>|  | 2295 | &nbsp;&nbsp; 2312944 |
| Job & Talent USA, Inc.<sup>(e)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3rd Incremental Term Loan, (1-mo. CME Term SOFR <br> at 1.00% Floor + 7.00%), 11.16%, 10/15/28<br>|  | 1991 | &nbsp;&nbsp; 2027150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Delayed Draw Term Loan, (1-mo. CME Term SOFR at <br> 1.00% Floor + 7.00%), 11.16%, 10/15/28<br>|  | 498 | &nbsp;&nbsp; 506788 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Initial Term Loan, (1-mo. CME Term SOFR at 1.00% <br> Floor + 7.00%), 11.16%, 10/15/28<br>|  | 1493 | &nbsp;&nbsp; 1520363 |
| &nbsp;&nbsp;&nbsp; Pueblo Mechanical and Controls LLC, 2022 Revolver, <br> (3-mo. CME Term SOFR at 0.75% Floor + 5.00%), <br> 9.00%, 08/23/27<sup>(e)</sup><br>|  | 39 | &nbsp;&nbsp; 38821 |
| &nbsp;&nbsp;&nbsp; Secretariat Advisors LLC, 2025 Term Loan B, (3-mo. <br> CME Term SOFR at 0.00% Floor + 4.00%), 8.00%, <br> 02/28/32<br>|  | 1266 | &nbsp;&nbsp; 1265690 |
| Security Services Acquisition Sub Corp.<sup>(e)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 12th Amendment Term Loan A, (1-mo. CME <br> Term SOFR at 1.00% Floor + 5.75%), 10.01%, <br> 09/30/27<br>|  | 927 | &nbsp;&nbsp; 918177 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan, (1-mo. CME Term SOFR at 1.00% <br> Floor + 5.75%), 10.01%, 09/30/27<br>|  | 1840 | &nbsp;&nbsp; 1821450 |
| &nbsp;&nbsp;&nbsp; Vensure Employer Services, Inc., 2024 Term Loan, (3-<br> mo. CME Term SOFR at 0.50% Floor + 5.00%), <br> 9.02%, 09/29/31<sup>(e)</sup><br>|  | 91 | &nbsp;&nbsp; 89699 |
|  |  |  | &nbsp;&nbsp; 28676067 |
| **Real Estate Management & Development — 0.5%** | **Real Estate Management & Development — 0.5%** | **Real Estate Management & Development — 0.5%** | **Real Estate Management & Development — 0.5%** |
| CoreLogic, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2nd Lien Term Loan, (1-mo. CME Term SOFR + <br> 6.61%), 10.78%, 06/04/29<br>|  | 30 | &nbsp;&nbsp; 29765 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan, (1-mo. CME Term SOFR at 0.50% Floor + <br> 3.61%), 7.78%, 06/02/28<br>|  | 93 | &nbsp;&nbsp; 92877 |
| &nbsp;&nbsp;&nbsp; Cushman & Wakefield U.S. Borrower LLC, 2025 Term <br> Loan B3, (1-mo. CME Term SOFR at 0.50% Floor + <br> 2.75%), 6.91%, 01/31/30<br>|  | 23 | &nbsp;&nbsp; 22783 |
| &nbsp;&nbsp;&nbsp; Greystone Affordable Housing Initiatives LLC, 2022 Term <br> Loan, (1-mo. CME Term SOFR + 6.50%), 10.78%, <br> 03/08/27<sup>(e)</sup><br>|  | 1636 | &nbsp;&nbsp; 1626965 |
| &nbsp;&nbsp;&nbsp; HowlCo LLC, Term Loan, (3-mo. CME Term SOFR at <br> 1.00% Floor + 3.00%, 3.50% PIK), 10.97%, <br> 10/22/27<sup>(e)(h)</sup><br>|  | 1162 | &nbsp;&nbsp; 1145096 |
|  |  |  | &nbsp;&nbsp; 2917486 |
| **Semiconductors & Semiconductor Equipment — 0.1%** | **Semiconductors & Semiconductor Equipment — 0.1%** | **Semiconductors & Semiconductor Equipment — 0.1%** | **Semiconductors & Semiconductor Equipment — 0.1%** |
| &nbsp;&nbsp;&nbsp; Emerald Technologies U.S. Acquisitionco, Inc., Revolver, <br> (6-mo. CME Term SOFR + 6.00%), 10.22%, <br> 12/29/26<sup>(e)</sup><br>|  | 411 | &nbsp;&nbsp; 280760 |
| &nbsp;&nbsp;&nbsp; Entegris, Inc., 2023 Term Loan B, (1-mo. CME Term <br> SOFR at 0.00% Floor + 1.75%), 5.79%, 07/06/29<br>|  | 28 | &nbsp;&nbsp; 28442 |
| &nbsp;&nbsp;&nbsp; MKS Instruments, Inc., 2025 USD Repriced Term Loan, <br> (1-mo. CME Term SOFR at 0.50% Floor + 2.00%), <br> 6.17%, 08/17/29<br>|  | 113 | &nbsp;&nbsp; 112413 |
|  |  |  | &nbsp;&nbsp; 421615 |

---

Consolidated Schedule of Investments

------

Consolidated Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Credit Strategies Fund**

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

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Software — 6.0%** | **Software — 6.0%** | **Software — 6.0%** | **Software — 6.0%** |
| &nbsp;&nbsp;&nbsp; Alphasense, Inc., 2024 Term Loan, (3-mo. CME Term <br> SOFR at 2.00% Floor + 6.25%), 10.24%, 06/27/29<sup>(e)</sup><br>| USD | 4167 | &nbsp;&nbsp; $4150559 |
| &nbsp;&nbsp;&nbsp; Applied Systems, Inc., 2024 1st Lien Term Loan, (3-mo. <br> CME Term SOFR at 0.00% Floor + 2.25%), 6.25%, <br> 02/24/31<br>|  | 181 | &nbsp;&nbsp; 181154 |
| &nbsp;&nbsp;&nbsp; AthenaHealth Group, Inc., 2022 Term Loan B, (1-mo. <br> CME Term SOFR at 0.50% Floor + 2.75%), 6.91%, <br> 02/15/29<br>|  | 207 | &nbsp;&nbsp; 206945 |
| &nbsp;&nbsp;&nbsp; BCPE Pequod Buyer, Inc., USD Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 3.00%), 7.16%, <br> 11/25/31<br>|  | 62 | &nbsp;&nbsp; 61922 |
| &nbsp;&nbsp;&nbsp; Boxer Parent Co., Inc., 2025 USD Term Loan B, (3-mo. <br> CME Term SOFR at 0.00% Floor + 3.00%), 7.20%, <br> 07/30/31<br>|  | 162 | &nbsp;&nbsp; 161830 |
| &nbsp;&nbsp;&nbsp; CCC Intelligent Solutions, Inc., Term Loan, (1-mo. CME <br> Term SOFR + 2.00%), 6.16%, 01/23/32<br>|  | 153 | &nbsp;&nbsp; 152517 |
| &nbsp;&nbsp;&nbsp; Central Parent LLC, 2024 Term Loan B, (3-mo. CME <br> Term SOFR at 0.00% Floor + 3.25%), 7.25%, <br> 07/06/29<br>|  | 141 | &nbsp;&nbsp; 121558 |
| &nbsp;&nbsp;&nbsp; Clearwater Analytics LLC, 2025 Term Loan B, (6-mo. <br> CME Term SOFR at 0.00% Floor + 2.25%), 6.46%, <br> 04/21/32<br>|  | 46 | &nbsp;&nbsp; 46000 |
| &nbsp;&nbsp;&nbsp; Clever Devices Ltd., Term Loan, (1-mo. CME Term SOFR <br> at 1.00% Floor + 6.00%), 10.16%, 06/12/30<sup>(e)</sup><br>|  | 2630 | &nbsp;&nbsp; 2651162 |
| Cloud Software Group, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B (2031), (3-mo. CME Term SOFR at <br> 0.00% Floor + 3.25%), 7.25%, 03/21/31<br>|  | 132 | &nbsp;&nbsp; 132520 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B (2032), (3-mo. CME Term SOFR at <br> 0.00% Floor + 3.25%), 7.25%, 08/13/32<br>|  | 236 | &nbsp;&nbsp; 236902 |
| &nbsp;&nbsp;&nbsp; Cloudera, Inc., 2021 Term Loan, (1-mo. CME Term <br> SOFR at 0.50% Floor + 3.85%), 8.01%, 10/08/28<br>|  | 35 | &nbsp;&nbsp; 34200 |
| &nbsp;&nbsp;&nbsp; Cotiviti, Inc., 2024 Term Loan, (1-mo. CME Term SOFR + <br> 2.75%), 7.03%, 05/01/31<br>|  | 148 | &nbsp;&nbsp; 145291 |
| DNAnexus, Inc.<sup>(e)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Delayed Draw Term Loan, (1-mo. CME Term <br> SOFR at 0.00% Floor + 5.25%), 9.39%, 12/18/29<br>|  | 5 | &nbsp;&nbsp; 4950 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan, (1-mo. CME Term SOFR at 0.00% <br> Floor + 5.25%), 9.39%, 12/18/29<br>|  | 25 | &nbsp;&nbsp; 24750 |
| &nbsp;&nbsp;&nbsp; Docupace Technologies LLC, Term Loan, (3-mo. CME <br> Term SOFR + 5.75%), 10.05%, 07/15/30<sup>(e)</sup><br>|  | 2064 | &nbsp;&nbsp; 2034750 |
| &nbsp;&nbsp;&nbsp; DS Admiral Bidco LLC, 2024 Term Loan B, (1-mo. CME <br> Term SOFR + 4.25%), 8.41%, 06/26/31<br>|  | 31 | &nbsp;&nbsp; 31125 |
| Ellucian Holdings, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 1st Lien Term Loan B, (1-mo. CME Term SOFR <br> at 0.50% Floor + 2.75%), 6.91%, 10/09/29<br>|  | 157 | &nbsp;&nbsp; 156844 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 2nd Lien Term Loan, (1-mo. CME Term SOFR at <br> 0.50% Floor + 4.75%), 8.91%, 11/22/32<br>|  | 26 | &nbsp;&nbsp; 26542 |
| &nbsp;&nbsp;&nbsp; Emburse, Inc., Term Loan, (3-mo. CME Term SOFR at <br> 0.75% Floor + 4.25%), 8.25%, 05/28/32<sup>(e)</sup><br>|  | 3684 | &nbsp;&nbsp; 3698947 |
| &nbsp;&nbsp;&nbsp; Epicor Software Corp., 2024 Term Loan F, (1-mo. CME <br> Term SOFR at 0.75% Floor + 2.50%), 6.66%, <br> 05/30/31<br>|  | 152 | &nbsp;&nbsp; 151892 |
| Firstup, Inc.<sup>(e)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amendment No. 2 Term Loan, (3-mo. CME Term <br> SOFR + 6.75%), 10.75%, 07/13/27<br>|  | 430 | &nbsp;&nbsp; 426607 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan, (3-mo. CME Term SOFR + 6.75%), <br> 10.75%, 07/13/27<br>|  | 4183 | &nbsp;&nbsp; 4149227 |
| &nbsp;&nbsp;&nbsp; Genesys Cloud Services, Inc., 2025 USD Term Loan B, <br> (1-mo. CME Term SOFR at 0.00% Floor + 2.50%), <br> 6.66%, 01/30/32<br>|  | 274 | &nbsp;&nbsp; 272499 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Software (continued)** | **Software (continued)** | **Software (continued)** | **Software (continued)** |
| &nbsp;&nbsp;&nbsp; Informatica LLC, 2024 Term Loan B, (1-mo. CME Term <br> SOFR at 0.00% Floor + 2.25%), 6.41%, 10/27/28<br>| USD | 60 | &nbsp;&nbsp; $59972 |
| &nbsp;&nbsp;&nbsp; Integratecom, Inc., Term Loan, (3-mo. CME Term SOFR <br> at 1.00% Floor + 6.75%), 10.90%, 12/15/27<sup>(e)</sup><br>|  | 1622 | &nbsp;&nbsp; 1559373 |
| &nbsp;&nbsp;&nbsp; Kaseya, Inc., 2025 1st Lien Term Loan B, (1-mo. CME <br> Term SOFR at 0.00% Floor + 3.25%), 7.41%, <br> 03/20/32<br>|  | 159 | &nbsp;&nbsp; 159382 |
| &nbsp;&nbsp;&nbsp; Lightspeed Solution LLC, Term Loan, (1-mo. CME Term <br> SOFR at 0.75% Floor + 6.00%), 10.17%, 03/01/28<sup>(e)</sup><br>|  | 417 | &nbsp;&nbsp; 414479 |
| Mitchell International, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 1st Lien Term Loan, (1-mo. CME Term SOFR at <br> 0.50% Floor + 3.25%), 7.41%, 06/17/31<br>|  | 105 | &nbsp;&nbsp; 104784 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 2nd Lien Term Loan, (1-mo. CME Term SOFR + <br> 5.25%), 9.41%, 06/17/32<br>|  | 15 | &nbsp;&nbsp; 14805 |
| &nbsp;&nbsp;&nbsp; Modena Buyer LLC, Term Loan, (3-mo. CME Term SOFR <br> at 0.00% Floor + 4.50%), 8.81%, 07/01/31<br>|  | 30 | &nbsp;&nbsp; 29346 |
| Oak Purchaser, Inc.<sup>(e)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan, (3-mo. CME Term SOFR at 0.75% <br> Floor + 5.50%), 9.37%, 05/31/28<br>|  | 262 | &nbsp;&nbsp; 261926 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Delayed Draw Term Loan, (6-mo. CME Term SOFR at <br> 0.75% Floor + 5.50%), 9.37%, 05/31/28<br>|  | 1439 | &nbsp;&nbsp; 1450667 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan, (6-mo. CME Term SOFR at 0.75% Floor + <br> 5.50%), 9.37%, 05/31/28<br>|  | 2159 | &nbsp;&nbsp; 2176000 |
| &nbsp;&nbsp;&nbsp; Planview Parent, Inc., 2024 1st Lien Term Loan, (3-mo. <br> CME Term SOFR at 0.00% Floor + 3.50%), 7.50%, <br> 12/17/27<br>|  | 18 | &nbsp;&nbsp; 17516 |
| &nbsp;&nbsp;&nbsp; Pluralsight, Inc., 2024 Term Loan, (3-mo. CME Term <br> SOFR at 1.00% Floor + 3.00%, 1.50% PIK), 8.70%, <br> 08/22/29<sup>(e)(h)</sup><br>|  | 227 | &nbsp;&nbsp; 226724 |
| &nbsp;&nbsp;&nbsp; PointClickCare Technologies, Inc., 2025 Term Loan B, <br> (3-mo. CME Term SOFR at 0.00% Floor + 2.75%), <br> 6.75%, 11/03/31<br>|  | 47 | &nbsp;&nbsp; 46614 |
| &nbsp;&nbsp;&nbsp; Project Boost Purchaser LLC, 2025 Refinancing Term <br> Loan, (3-mo. CME Term SOFR at 0.00% Floor + <br> 2.75%), 7.07%, 07/16/31<br>|  | 109 | &nbsp;&nbsp; 108342 |
| &nbsp;&nbsp;&nbsp; RealPage, Inc., 1st Lien Term Loan, (3-mo. CME Term <br> SOFR + 3.26%), 7.26%, 04/24/28<br>|  | 94 | &nbsp;&nbsp; 93662 |
| &nbsp;&nbsp;&nbsp; Spartan Bidco Pty. Ltd., Term Loan, (3-mo. CME Term <br> SOFR at 0.75% Floor + 6.50%), 10.96%, 01/24/28<sup>(e)</sup><br>|  | 2139 | &nbsp;&nbsp; 2130342 |
| &nbsp;&nbsp;&nbsp; SS&C Technologies, Inc., 2024 Term Loan B8, (1-mo. <br> CME Term SOFR at 0.00% Floor + 2.00%), 6.16%, <br> 05/09/31<br>|  | 155 | &nbsp;&nbsp; 155496 |
| Thunder Purchaser, Inc.<sup>(e)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Incremental Delayed Draw Term Loan, (3-mo. <br> CME Term SOFR at 1.00% Floor + 5.25%), 9.40%, <br> 06/30/28<br>|  | 689 | &nbsp;&nbsp; 682976 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Refinancing Term Loan, (3-mo. CME Term <br> SOFR at 1.00% Floor + 5.25%), 9.40%, 06/30/28<br>|  | 3049 | &nbsp;&nbsp; 3024086 |
| &nbsp;&nbsp;&nbsp; UKG, Inc., 2024 Term Loan B, (3-mo. CME Term SOFR <br> at 0.00% Floor + 2.50%), 6.81%, 02/10/31<br>|  | 196 | &nbsp;&nbsp; 196028 |
| &nbsp;&nbsp;&nbsp; VS Buyer LLC, 2025 Term Loan B, (3-mo. CME Term <br> SOFR at 0.00% Floor + 2.25%), 6.56%, 04/12/31<br>|  | 180 | &nbsp;&nbsp; 179923 |
| Waystar Technologies, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 2025 Add-on Term Loan B, 10/22/29<sup>(o)</sup> |  | 24 | &nbsp;&nbsp; 23963 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, (1-mo. CME Term SOFR at 0.00% <br> Floor + 2.00%), 6.16%, 10/22/29<br>|  | 70 | &nbsp;&nbsp; 69922 |
| &nbsp;&nbsp;&nbsp; West Technology Group LLC, 2023 Term Loan B3, (3-<br> mo. CME Term SOFR + 4.25%), 8.56%, 04/10/27<br>|  | 996 | &nbsp;&nbsp; 446111 |
| &nbsp;&nbsp;&nbsp; X.AI Corp., Term Loan, (6-mo. CME Term SOFR at <br> 0.00% Floor + 7.25%), 11.12%, 06/28/30<br>|  | 541 | &nbsp;&nbsp; 523106 |

---

------

Consolidated Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Credit Strategies Fund**

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

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Software (continued)** | **Software (continued)** | **Software (continued)** | **Software (continued)** |
| Zelis Payments Buyer, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5th Amendment Term Loan, (1-mo. CME Term SOFR <br> at 0.00% Floor + 3.25%), 7.41%, 11/26/31<br>| USD | 101 | &nbsp;&nbsp; $101184 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, (1-mo. CME Term SOFR + 2.75%), <br> 6.91%, 09/28/29<br>|  | 60 | &nbsp;&nbsp; 59673 |
| Zilliant, Inc.<sup>(e)(h)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Delayed Draw Term Loan, (1-mo. CME Term SOFR at <br> 0.75% Floor + 2.00%, 5.00% PIK), 11.26%, <br> 12/21/27<br>|  | 325 | &nbsp;&nbsp; 311006 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan, (1-mo. CME Term SOFR at 0.75% Floor + <br> 2.00%, 5.00% PIK), 11.26%, 12/21/27<br>|  | 1775 | &nbsp;&nbsp; 1698551 |
|  |  |  | &nbsp;&nbsp; 35586652 |
| **Specialty Retail — 2.0%** | **Specialty Retail — 2.0%** | **Specialty Retail — 2.0%** | **Specialty Retail — 2.0%** |
| &nbsp;&nbsp;&nbsp; Cart.Com, Inc., Term Loan, (1-mo. CME Term SOFR at <br> 1.50% Floor + 7.75%), 11.91%, 05/30/30<sup>(e)</sup><br>|  | 5000 | &nbsp;&nbsp; 4980000 |
| &nbsp;&nbsp;&nbsp; Hanna Andersson LLC, Term Loan, (3-mo. CME Term <br> SOFR at 1.00% Floor + 6.25%), 10.66%, 07/02/26<sup>(e)</sup><br>|  | 2922 | &nbsp;&nbsp; 2922500 |
| &nbsp;&nbsp;&nbsp; LS Group OpCo Acquistion LLC, 2025 Term Loan B, <br> (1-mo. CME Term SOFR at 0.00% Floor + 2.50%), <br> 6.70%, 04/23/31<br>|  | 49 | &nbsp;&nbsp; 48483 |
| &nbsp;&nbsp;&nbsp; Restoration Hardware, Inc., Term Loan B, (1-mo. CME <br> Term SOFR at 0.50% Floor + 2.61%), 6.78%, <br> 10/20/28<br>|  | 40 | &nbsp;&nbsp; 38637 |
| Sellerx<sup>(e)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Revolver, (3-mo. CME Term SOFR + 5.00%), <br> 9.01%, 12/31/28<br>|  | 1054 | &nbsp;&nbsp; 1054617 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Tranche A1 Term Loan, (3-mo. CME Term SOFR <br> + 9.00%), 13.00%, 12/31/28<br>|  | 736 | &nbsp;&nbsp; 736058 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Tranche A2 Term Loan, (3-mo. CME Term SOFR <br> + 9.00%), 13.00%, 12/31/28<br>|  | 736 | &nbsp;&nbsp; 735630 |
| &nbsp;&nbsp;&nbsp; Supergoop LLC, Term Loan, (1-mo. CME Term SOFR + <br> 5.75%), 10.01%, 12/29/28<sup>(e)</sup><br>|  | 1155 | &nbsp;&nbsp; 1144794 |
|  |  |  | &nbsp;&nbsp; 11660719 |
| **Technology Hardware, Storage & Peripherals — 0.7%** | **Technology Hardware, Storage & Peripherals — 0.7%** | **Technology Hardware, Storage & Peripherals — 0.7%** | **Technology Hardware, Storage & Peripherals — 0.7%** |
| Cubic Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Second Out Term Loan B, (3-mo. CME Term <br> SOFR at 0.75% Floor + 4.51%), 8.83%, 05/25/29<br>|  | 173 | &nbsp;&nbsp; 98837 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Second Out Term Loan C, (3-mo. CME Term <br> SOFR at 0.75% Floor + 4.51%), 8.57%, 05/25/29<br>|  | 24 | &nbsp;&nbsp; 13646 |
| &nbsp;&nbsp;&nbsp; SumUp Holdings Luxembourg, 2024 Delayed Draw Term <br> Loan A, (3-mo. CME Term SOFR + 6.50%), 10.70%, <br> 04/22/31<sup>(e)</sup><br>|  | 4000 | &nbsp;&nbsp; 4048000 |
|  |  |  | &nbsp;&nbsp; 4160483 |
| **Textiles, Apparel & Luxury Goods — 1.6%** | **Textiles, Apparel & Luxury Goods — 1.6%** | **Textiles, Apparel & Luxury Goods — 1.6%** | **Textiles, Apparel & Luxury Goods — 1.6%** |
| ABG Intermediate Holdings 2 LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 1st Lien Term Loan B, (1-mo. CME Term SOFR <br> at 0.00% Floor + 2.25%), 6.41%, 12/21/28<br>|  | 63 | &nbsp;&nbsp; 63193 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Delayed Draw Term Loan, (1-mo. CME Term <br> SOFR at 0.00% Floor + 2.25%), 6.41%, 02/13/32<br>|  | 30 | &nbsp;&nbsp; 29726 |
| &nbsp;&nbsp;&nbsp; Beach Acquisition Bidco LLC, USD Term Loan B, (3-mo. <br> CME Term SOFR at 0.00% Floor + 3.25%), 7.31%, <br> 09/12/32<br>|  | 16 | &nbsp;&nbsp; 16067 |
| James Perse Enterprises, Inc.<sup>(e)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Revolver, (3-mo. CME Term SOFR at 1.00% Floor + <br> 6.25%), 10.32%, 09/08/27<br>|  | 123 | &nbsp;&nbsp; 123333 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Textiles, Apparel & Luxury Goods (continued)** | **Textiles, Apparel & Luxury Goods (continued)** | **Textiles, Apparel & Luxury Goods (continued)** | **Textiles, Apparel & Luxury Goods (continued)** |
| James Perse Enterprises, Inc.<sup>(e)</sup> (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan, (12-mo. CME Term SOFR at 1.00% Floor <br> + 6.25%), 10.31%, 09/08/27<br>| USD | 4000 | &nbsp;&nbsp; $4000000 |
| &nbsp;&nbsp;&nbsp; WH Borrower LLC, 2025 Term Loan B, (3-mo. CME Term <br> SOFR at 0.50% Floor + 4.75%), 8.95%, 02/20/32<br>|  | 4988 | &nbsp;&nbsp; 4986702 |
|  |  |  | &nbsp;&nbsp; 9219021 |
| **Transportation Infrastructure — 0.0%** | **Transportation Infrastructure — 0.0%** | **Transportation Infrastructure — 0.0%** | **Transportation Infrastructure — 0.0%** |
| &nbsp;&nbsp;&nbsp; OLA Netherlands BV, Term Loan, (1-mo. CME Term <br> SOFR at 0.75% Floor + 6.35%), 10.51%, 12/15/26<br>|  | 109 | &nbsp;&nbsp; 107909 |
| &nbsp;&nbsp;&nbsp; SIRVA Worldwide, Inc., 2024 Term Loan, (3-mo. CME <br> Term SOFR at 2.00% Floor + 8.00%), 12.20%, <br> 08/20/29<br>|  | 40 | &nbsp;&nbsp; 15359 |
|  |  |  | &nbsp;&nbsp; 123268 |
| **Wireless Telecommunication Services — 2.2%** | **Wireless Telecommunication Services — 2.2%** | **Wireless Telecommunication Services — 2.2%** | **Wireless Telecommunication Services — 2.2%** |
| &nbsp;&nbsp;&nbsp; Altice France SA, 2023 USD Term Loan B14, (3-mo. <br> CME Term SOFR at 0.00% Floor + 5.50%), 9.82%, <br> 08/15/28<sup>(e)</sup><br>|  | 3903 | &nbsp;&nbsp; 3766491 |
| &nbsp;&nbsp;&nbsp; Digicel International Finance Ltd., 2025 Term Loan B, <br> (3-mo. CME Term SOFR at 0.00% Floor + 5.25%), <br> 9.49%, 08/06/32<br>|  | 27 | &nbsp;&nbsp; 26966 |
| &nbsp;&nbsp;&nbsp; GOGO Intermediate Holdings LLC, Term Loan B, (1-mo. <br> CME Term SOFR + 3.86%), 8.03%, 04/30/28<br>|  | 44 | &nbsp;&nbsp; 43606 |
| &nbsp;&nbsp;&nbsp; Level 3 Financing, Inc., 2025 Repriced Term Loan B4, <br> (1-mo. CME Term SOFR at 0.00% Floor + 3.25%), <br> 7.42%, 03/29/32<br>|  | 174 | &nbsp;&nbsp; 174000 |
| Ligado Networks LLC, <sup>(e)</sup> |  | 4714 | &nbsp;&nbsp; 3927695 |
| &nbsp;&nbsp;&nbsp; OpenMarket, Inc., 2025 Refinancing Term Loan, (3-mo. <br> CME Term SOFR at 0.75% Floor + 5.75%), 9.75%, <br> 06/11/29<sup>(e)</sup><br>|  | 4900 | &nbsp;&nbsp; 4849645 |
| &nbsp;&nbsp;&nbsp; Windstream Services, LLC, 2025 Term Loan B, <br> 09/24/32<sup>(e)(o)</sup><br>|  | 64 | &nbsp;&nbsp; 63360 |
|  |  |  | &nbsp;&nbsp; 12851763 |
| **Total Floating Rate Loan Interests — 61.1%** <br>**(Cost: $375,569,160)** | **Total Floating Rate Loan Interests — 61.1%** <br>**(Cost: $375,569,160)** | **Total Floating Rate Loan Interests — 61.1%** <br>**(Cost: $375,569,160)** | &nbsp;&nbsp; 361213858 |
| **Foreign Agency Obligations** | **Foreign Agency Obligations** | **Foreign Agency Obligations** | **Foreign Agency Obligations** |
| **Mongolia — 0.0%** | **Mongolia — 0.0%** | **Mongolia — 0.0%** |  |
| &nbsp;&nbsp;&nbsp; Mongolia Government International Bonds, 3.50%, <br> 07/07/27<sup>(c)</sup><br>|  | 200 | &nbsp;&nbsp; 192300 |
| **Pakistan — 0.1%** | **Pakistan — 0.1%** | **Pakistan — 0.1%** |  |
| &nbsp;&nbsp;&nbsp; Pakistan Government International Bonds, 6.00%, <br> 04/08/26<sup>(c)</sup><br>|  | 300 | &nbsp;&nbsp; 298500 |
| **Sri Lanka — 0.1%** | **Sri Lanka — 0.1%** | **Sri Lanka — 0.1%** |  |
| Sri Lanka Government International Bonds<sup>(b)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 4.00%, 04/15/28 |  | 89 | &nbsp;&nbsp; 85543 |
| &nbsp;&nbsp;&nbsp; 3.35%, 01/15/30<sup>(j)</sup> |  | 94 | &nbsp;&nbsp; 88421 |
| &nbsp;&nbsp;&nbsp; 3.60%, 03/15/33<sup>(j)</sup> |  | 185 | &nbsp;&nbsp; 158646 |
| &nbsp;&nbsp;&nbsp; 5.10%, 06/15/35<sup>(j)</sup> |  | 125 | &nbsp;&nbsp; 91080 |
| &nbsp;&nbsp;&nbsp; 3.85%, 05/15/36<sup>(j)</sup> |  | 87 | &nbsp;&nbsp; 76555 |
| &nbsp;&nbsp;&nbsp; 3.85%, 02/15/38<sup>(j)</sup> |  | 173 | &nbsp;&nbsp; 154042 |
|  |  |  | &nbsp;&nbsp; 654287 |
| **Total Foreign Agency Obligations — 0.2%** <br>**(Cost: $1,049,876)** | **Total Foreign Agency Obligations — 0.2%** <br>**(Cost: $1,049,876)** | **Total Foreign Agency Obligations — 0.2%** <br>**(Cost: $1,049,876)** | &nbsp;&nbsp; 1145087 |

---

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

Consolidated Schedule of Investments

------

Consolidated Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Credit Strategies Fund**

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

---

| | | |
|:---|:---|:---|
| *Security* | <br>*Shares*<br>| *Value* |
| **Investment Companies** | **Investment Companies** | **Investment Companies** |
| **Equity Funds — 0.0%** | **Equity Funds — 0.0%** |  |
| Hearthside Equity | 671 | &nbsp;&nbsp; $12869 |
| **Fixed Income Funds — 0.8%** | **Fixed Income Funds — 0.8%** |  |
| Igloo Parent Holdings LLC<sup>(e)</sup> | 21 | &nbsp;&nbsp; 1693507 |
| Invesco Senior Loan ETF | 58600 | &nbsp;&nbsp; 1226498 |
| iShares JP Morgan USD Emerging Markets Bond ETF<sup>(p)</sup> | 18476 | &nbsp;&nbsp; 1758730 |
|  |  | &nbsp;&nbsp; 4678735 |
| **Total Investment Companies — 0.8%** <br>**(Cost: $5,013,131)** | **Total Investment Companies — 0.8%** <br>**(Cost: $5,013,131)** | &nbsp;&nbsp; 4691604 |

---

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

---

| | | | |
|:---|:---|:---|:---|
|  |  | *Par* <br>*(000)*<br>|  |
| **Municipal Bonds** | **Municipal Bonds** | **Municipal Bonds** | **Municipal Bonds** |
| **California — 0.7%** | **California — 0.7%** | **California — 0.7%** |  |
| &nbsp;&nbsp;&nbsp; California Infrastructure & Economic Development Bank, <br> Refunding RB, Series A, Class B, AMT, Sustainability <br> Bonds, 9.50%, 01/01/65<sup>(b)</sup><br>| USD | 4835 | &nbsp;&nbsp; 4408914 |
| **Florida — 0.1%** | **Florida — 0.1%** | **Florida — 0.1%** |  |
| &nbsp;&nbsp;&nbsp; Florida Development Finance Corp., Refunding RB, <br> AMT, 5.00%, 07/01/41<br>|  | 500 | &nbsp;&nbsp; 415171 |
| **Total Municipal Bonds — 0.8%** <br>**(Cost: $4,582,576)** | **Total Municipal Bonds — 0.8%** <br>**(Cost: $4,582,576)** | **Total Municipal Bonds — 0.8%** <br>**(Cost: $4,582,576)** | &nbsp;&nbsp; 4824085 |
| **Preferred Securities** | **Preferred Securities** | **Preferred Securities** | **Preferred Securities** |
| **Capital Trusts — 2.5%** | **Capital Trusts — 2.5%** | **Capital Trusts — 2.5%** | **Capital Trusts — 2.5%** |
| **Automobiles**<sup>(a)(c)(i)</sup> **— 0.1%** | **Automobiles**<sup>(a)(c)(i)</sup> **— 0.1%** | **Automobiles**<sup>(a)(c)(i)</sup> **— 0.1%** |  |
| RCI Banque SA, 6.13% | EUR | 200 | &nbsp;&nbsp; 234693 |
| Volkswagen International Finance NV, 5.99% |  | 100 | &nbsp;&nbsp; 121839 |
|  |  |  | &nbsp;&nbsp; 356532 |
| **Banks**<sup>(a)(i)</sup> **— 1.3%** | **Banks**<sup>(a)(i)</sup> **— 1.3%** | **Banks**<sup>(a)(i)</sup> **— 1.3%** |  |
| Axis Bank Ltd., 4.10%<sup>(c)</sup> | USD | 200 | &nbsp;&nbsp; 197000 |
| Bank of America Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.25% |  | 40 | &nbsp;&nbsp; 40511 |
| &nbsp;&nbsp;&nbsp; 6.63% |  | 90 | &nbsp;&nbsp; 93644 |
| Barclays PLC, 8.00% |  | 4150 | &nbsp;&nbsp; 4392969 |
| BPER Banca SpA, 6.50%<sup>(c)</sup> | EUR | 200 | &nbsp;&nbsp; 245694 |
| Citigroup, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.88%, 12/31/99 | USD | 15 | &nbsp;&nbsp; 15458 |
| &nbsp;&nbsp;&nbsp; Series CC, 7.13% |  | 60 | &nbsp;&nbsp; 61987 |
| &nbsp;&nbsp;&nbsp; Series DD, 7.00% |  | 15 | &nbsp;&nbsp; 15932 |
| &nbsp;&nbsp;&nbsp; Series EE, 6.75% |  | 29 | &nbsp;&nbsp; 29443 |
| &nbsp;&nbsp;&nbsp; Series FF, 6.95% |  | 15 | &nbsp;&nbsp; 15405 |
| HDFC Bank Ltd., 3.70%<sup>(c)</sup> |  | 200 | &nbsp;&nbsp; 196400 |
| HSBC Holdings PLC, 7.05% |  | 400 | &nbsp;&nbsp; 416426 |
| Krung Thai Bank PCL/Cayman Islands, 4.40%<sup>(c)</sup> |  | 200 | &nbsp;&nbsp; 198875 |
| Mitsubishi UFJ Financial Group, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.35% |  | 400 | &nbsp;&nbsp; 408341 |
| &nbsp;&nbsp;&nbsp; 8.20% |  | 425 | &nbsp;&nbsp; 466011 |
| Standard Chartered PLC<sup>(c)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 7.63% |  | 200 | &nbsp;&nbsp; 212000 |
| &nbsp;&nbsp;&nbsp; 7.88% |  | 400 | &nbsp;&nbsp; 428173 |
| Wells Fargo & Co., 6.85% |  | 16 | &nbsp;&nbsp; 16814 |
|  |  |  | &nbsp;&nbsp; 7451083 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Building Products — 0.1%** | **Building Products — 0.1%** | **Building Products — 0.1%** |  |
| Nationwide Building Society, 7.50%<sup>(a)(c)(i)</sup> | GBP | 200 | &nbsp;&nbsp; $275753 |
| **Diversified Telecommunication Services**<sup>(a)(c)</sup> **— 0.1%** | **Diversified Telecommunication Services**<sup>(a)(c)</sup> **— 0.1%** | **Diversified Telecommunication Services**<sup>(a)(c)</sup> **— 0.1%** |  |
| British Telecommunications PLC |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.13%, 10/03/54 | EUR | 116 | &nbsp;&nbsp; 142200 |
| &nbsp;&nbsp;&nbsp; 8.38%, 12/20/83 | GBP | 107 | &nbsp;&nbsp; 154412 |
| Telefonica Europe BV, 6.75%<sup>(i)</sup> | EUR | 300 | &nbsp;&nbsp; 393292 |
|  |  |  | &nbsp;&nbsp; 689904 |
| **Electric Utilities**<sup>(a)</sup> **— 0.1%** | **Electric Utilities**<sup>(a)</sup> **— 0.1%** | **Electric Utilities**<sup>(a)</sup> **— 0.1%** |  |
| AES Corp., 7.60%, 01/15/55 | USD | 19 | &nbsp;&nbsp; 19681 |
| CenterPoint Energy, Inc., Series B, 6.85%, 02/15/55 |  | 6 | &nbsp;&nbsp; 6364 |
| Dominion Energy, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.63%, 05/15/55 |  | 10 | &nbsp;&nbsp; 10349 |
| &nbsp;&nbsp;&nbsp; Series B, 7.00%, 06/01/54 |  | 355 | &nbsp;&nbsp; 384922 |
| Electricite de France SA, <sup>(c)(g)(i)</sup> | EUR | 300 | &nbsp;&nbsp; 349574 |
|  |  |  | &nbsp;&nbsp; 770890 |
| **Financial Services**<sup>(a)</sup> **— 0.2%** | **Financial Services**<sup>(a)</sup> **— 0.2%** | **Financial Services**<sup>(a)</sup> **— 0.2%** |  |
| Brookfield Finance, Inc., 6.30%, 01/15/55 | USD | 45 | &nbsp;&nbsp; 44616 |
| Credit Agricole SA, 5.88%<sup>(c)(i)</sup> | EUR | 100 | &nbsp;&nbsp; 119277 |
| Deutsche Bank AG, 7.38%<sup>(c)(i)</sup> |  | 200 | &nbsp;&nbsp; 253069 |
| Goldman Sachs Group, Inc., 6.85%<sup>(i)</sup> | USD | 30 | &nbsp;&nbsp; 31162 |
| Nomura Holdings, Inc., 7.00%<sup>(i)</sup> |  | 200 | &nbsp;&nbsp; 207019 |
| Royal Capital BV, 5.00%<sup>(c)(i)</sup> |  | 200 | &nbsp;&nbsp; 199000 |
| Sumitomo Mitsui Financial Group, Inc., 6.45%<sup>(i)</sup> |  | 300 | &nbsp;&nbsp; 306238 |
|  |  |  | &nbsp;&nbsp; 1160381 |
| **Independent Power and Renewable Electricity Producers**<sup>(a)(b)(i)</sup> **— 0.0%** | **Independent Power and Renewable Electricity Producers**<sup>(a)(b)(i)</sup> **— 0.0%** | **Independent Power and Renewable Electricity Producers**<sup>(a)(b)(i)</sup> **— 0.0%** |  |
| NRG Energy, Inc., 10.25% |  | 93 | &nbsp;&nbsp; 101404 |
| Vistra Corp., 7.00% |  | 67 | &nbsp;&nbsp; 68023 |
|  |  |  | &nbsp;&nbsp; 169427 |
| **Insurance**<sup>(c)</sup> **— 0.2%** | **Insurance**<sup>(c)</sup> **— 0.2%** | **Insurance**<sup>(c)</sup> **— 0.2%** |  |
| FWD Group Holdings Ltd. |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.25%, 09/22/30 |  | 475 | &nbsp;&nbsp; 475986 |
| &nbsp;&nbsp;&nbsp; 5.84%, 09/22/35 |  | 475 | &nbsp;&nbsp; 480678 |
| NN Group NV, 5.75%<sup>(a)(i)</sup> | EUR | 200 | &nbsp;&nbsp; 237914 |
|  |  |  | &nbsp;&nbsp; 1194578 |
| **Metals & Mining — 0.0%** | **Metals & Mining — 0.0%** | **Metals & Mining — 0.0%** |  |
| Prysmian SpA, 5.25%<sup>(a)(c)(i)</sup> |  | 175 | &nbsp;&nbsp; 214322 |
| **Multi-Utilities — 0.0%** | **Multi-Utilities — 0.0%** | **Multi-Utilities — 0.0%** |  |
| AltaGas Ltd., 7.20%, 10/15/54<sup>(a)(b)</sup> | USD | 16 | &nbsp;&nbsp; 16551 |
| **Oil, Gas & Consumable Fuels**<sup>(a)</sup> **— 0.1%** | **Oil, Gas & Consumable Fuels**<sup>(a)</sup> **— 0.1%** | **Oil, Gas & Consumable Fuels**<sup>(a)</sup> **— 0.1%** |  |
| Eni SpA, 4.50%<sup>(c)(i)</sup> | EUR | 100 | &nbsp;&nbsp; 119866 |
| Sunoco LP, 7.88%<sup>(b)(i)</sup> | USD | 110 | &nbsp;&nbsp; 111728 |
| Var Energi ASA, 7.86%, 11/15/83<sup>(c)</sup> | EUR | 300 | &nbsp;&nbsp; 390553 |
| Venture Global LNG, Inc., 9.00%<sup>(b)(i)</sup> | USD | 215 | &nbsp;&nbsp; 213082 |
|  |  |  | &nbsp;&nbsp; 835229 |
| **Passenger Airlines — 0.0%** | **Passenger Airlines — 0.0%** | **Passenger Airlines — 0.0%** |  |
| Air France-KLM, 5.75%<sup>(a)(c)(i)</sup> | EUR | 100 | &nbsp;&nbsp; 119803 |
| **Pharmaceuticals — 0.1%** | **Pharmaceuticals — 0.1%** | **Pharmaceuticals — 0.1%** |  |
| Bayer AG, 5.38%, 03/25/82<sup>(a)(c)</sup> |  | 400 | &nbsp;&nbsp; 482556 |
| **Real Estate Management & Development**<sup>(c)(i)</sup> **— 0.1%** | **Real Estate Management & Development**<sup>(c)(i)</sup> **— 0.1%** | **Real Estate Management & Development**<sup>(c)(i)</sup> **— 0.1%** |  |
| Heimstaden Bostad AB, 2.63%<sup>(a)</sup> |  | 116 | &nbsp;&nbsp; 131067 |
| NWD Finance BVI Ltd.<sup>(d)(m)</sup> <br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 4.13% | USD | 200 | &nbsp;&nbsp; 74350 |
| &nbsp;&nbsp;&nbsp; 5.25% |  | 200 | &nbsp;&nbsp; 86750 |
|  |  |  | &nbsp;&nbsp; 292167 |
| **Specialty Retail — 0.0%** | **Specialty Retail — 0.0%** | **Specialty Retail — 0.0%** |  |
| Unibail-Rodamco-Westfield SE, 4.75%<sup>(a)(c)(i)</sup> | EUR | 200 | &nbsp;&nbsp; 238510 |

---

------

Consolidated Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Credit Strategies Fund**

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

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Transportation Infrastructure — 0.0%** | **Transportation Infrastructure — 0.0%** | **Transportation Infrastructure — 0.0%** |  |
| La Poste SA, 5.00%<sup>(a)(c)(i)</sup> | EUR | 100 | &nbsp;&nbsp; $121929 |
| **Utilities**<sup>(a)(c)(i)</sup> **— 0.1%** | **Utilities**<sup>(a)(c)(i)</sup> **— 0.1%** | **Utilities**<sup>(a)(c)(i)</sup> **— 0.1%** |  |
| Electricite de France SA, 5.13% |  | 200 | &nbsp;&nbsp; 242311 |
| Veolia Environnement SA, 4.32% |  | 100 | &nbsp;&nbsp; 117638 |
|  |  |  | &nbsp;&nbsp; 359949 |
|  |  |  | &nbsp;&nbsp; 14749564 |

---

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

---

| | | |
|:---|:---|:---|
|  | <br>*Shares*<br>|  |
| **Preferred Stocks — 1.3%** | **Preferred Stocks — 1.3%** | **Preferred Stocks — 1.3%** |
| **Broadline Retail — 0.6%** | **Broadline Retail — 0.6%** |  |
| StubHub, Inc., Series K, 12/31/49<sup>(d)(e)</sup> | 3000 | &nbsp;&nbsp; 3538417 |
| **Construction Materials — 0.0%** | **Construction Materials — 0.0%** |  |
| Kellermeyer Bergensons Services LLC<sup>(d)(e)</sup> | 45118 | &nbsp;&nbsp; — |
| **Consumer Discretionary — 0.2%** | **Consumer Discretionary — 0.2%** |  |
| Sellerx, Series Z<sup>(d)(e)</sup> | 4707471 | &nbsp;&nbsp; 1318092 |
| **Consumer Finance — 0.0%** | **Consumer Finance — 0.0%** |  |
| &nbsp;&nbsp;&nbsp; WorldRemit Ltd., Series X, (Acquired 06/24/24, Cost: <br> $0)<sup>(d)(e)(f)</sup><br>| 136 | &nbsp;&nbsp; 15598 |
| **Ground Transportation — 0.0%** | **Ground Transportation — 0.0%** |  |
| Sirva BGRS Holdings, Inc., 07/21/30<sup>(d)</sup> | 8 | &nbsp;&nbsp; 1375 |
| **Insurance — 0.0%** | **Insurance — 0.0%** |  |
| &nbsp;&nbsp;&nbsp; Alliant Cali, Inc., (Acquired 09/24/24, Cost: $83,725), <br> 12/31/79<sup>(e)(f)</sup><br>| 85 | &nbsp;&nbsp; 89740 |
| **Interactive Media & Services**<sup>(d)(e)(f)</sup> **— 0.3%** | **Interactive Media & Services**<sup>(d)(e)(f)</sup> **— 0.3%** |  |
| &nbsp;&nbsp;&nbsp; ByteDance Ltd., Series E-1, (Acquired 11/11/20, Cost: <br> $681,004)<br>| 6215 | &nbsp;&nbsp; 1571587 |
| &nbsp;&nbsp;&nbsp; Streamland Media Holdings LLC, (Acquired 03/31/25, <br> Cost: $42,479)<br>| 264 | &nbsp;&nbsp; — |
|  |  | &nbsp;&nbsp; 1571587 |
| **IT Services**<sup>(d)(e)</sup> **— 0.0%** | **IT Services**<sup>(d)(e)</sup> **— 0.0%** |  |
| Veritas Kapital Assurance PLC |  |  |
| &nbsp;&nbsp;&nbsp; Series G | 219 | &nbsp;&nbsp; 4982 |
| &nbsp;&nbsp;&nbsp; Series G-1 | 161 | &nbsp;&nbsp; 3663 |
|  |  | &nbsp;&nbsp; 8645 |
| **Professional Services — 0.2%** | **Professional Services — 0.2%** |  |
| Job and Talent Holding Ltd., 0.00%<sup>(d)(e)(f)</sup> | 18083 | &nbsp;&nbsp; 1026299 |
| **Specialty Retail**<sup>(d)(e)</sup> **— 0.0%** | **Specialty Retail**<sup>(d)(e)</sup> **— 0.0%** |  |
| Razor Group & Infinite Commerce, 0.00% | 3511744 | &nbsp;&nbsp; 35 |
| Razor Group GmbH |  |  |
| &nbsp;&nbsp;&nbsp; , 09/30/28<sup>(m)</sup> | 3182164 | &nbsp;&nbsp; 32 |
| &nbsp;&nbsp;&nbsp; Common Unit, 09/30/28 | 31821 | &nbsp;&nbsp; — |
|  |  | &nbsp;&nbsp; 67 |
|  |  | &nbsp;&nbsp; 7569820 |
| **Total Preferred Securities — 3.8%** <br>**(Cost: $23,097,854)** | **Total Preferred Securities — 3.8%** <br>**(Cost: $23,097,854)** | &nbsp;&nbsp; 22319384 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Warrants** | **Warrants** | **Warrants** |
| **Capital Markets — 0.0%** | **Capital Markets — 0.0%** |  |
| &nbsp;&nbsp;&nbsp; Pico Quantitative Trade Holding LLC, (Acquired <br> 02/07/20, Cost: $—), (Issued 02/07/20, Expires <br> 02/07/30))<sup>(d)(e)(f)(q)</sup><br>| 142 | &nbsp;&nbsp; $26534 |
| **Consumer Finance — 0.0%** | **Consumer Finance — 0.0%** |  |
| &nbsp;&nbsp;&nbsp; WorldRemit Ltd., Series D, (Issued/Exercisable 02/11/21, <br> 1,596 Shares for 1 Warrant, Expires 02/11/31, Strike <br> Price USD 37.59)<sup>(d)(e)</sup><br>| 1596 | &nbsp;&nbsp; 1332 |
| **Financial Services — 0.0%** | **Financial Services — 0.0%** |  |
| &nbsp;&nbsp;&nbsp; Service King (Carnelian Point), (Exercisable 01/14/23, <br> 1 Share for 1 Warrant, Expires 06/30/27, Strike Price <br> USD 10.00)<sup>(d)</sup><br>| 129 | &nbsp;&nbsp; — |
| **Ground Transportation — 0.0%** | **Ground Transportation — 0.0%** |  |
| Motive Technologies, Inc., (Expires 12/31/49)<sup>(d)(e)</sup> | 75000 | &nbsp;&nbsp; 70500 |
| **Interactive Media & Services — 0.0%** | **Interactive Media & Services — 0.0%** |  |
| &nbsp;&nbsp;&nbsp; Research Now, Inc., (Issued 07/15/24, Exercisable <br> 07/15/29, Expires 07/15/29, Strike Price USD <br> 37.72)<sup>(d)</sup><br>| 2857 | &nbsp;&nbsp; 357 |
| **Media — 0.0%**  | **Media — 0.0%**  |  |
| &nbsp;&nbsp;&nbsp; Suited Connector LLC, (Issued/Exercisable 03/06/23, <br> 1 Share for 1 Warrant, Expires 03/06/33, Strike Price <br> USD 33.71)<sup>(d)(e)</sup><br>| 20348 | &nbsp;&nbsp; — |
| **Software — 0.0%** | **Software — 0.0%** |  |
| &nbsp;&nbsp;&nbsp; Grey Orange, (Issued/Exercisable 05/06/22, 1 Share for <br> 1 Warrant, Expires 05/06/32, Strike Price USD <br> 28.93)<sup>(d)(e)</sup><br>| 460 | &nbsp;&nbsp; 92 |
| **Specialty Retail**<sup>(d)(e)</sup> **— 0.0%** | **Specialty Retail**<sup>(d)(e)</sup> **— 0.0%** |  |
| &nbsp;&nbsp;&nbsp; Razor Group GmbH, (Issued/Exercisable 03/24/23, <br> 568 Shares for 1 Warrant, Expires 04/28/30, Strike <br> Price EUR 6,306.84)<br>| 14 | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; Razor Group GmbH, (Issued/Exercisable 04/30/21, <br> 1,854 Shares for 1 Warrant, Expires 04/30/28, Strike <br> Price EUR 911.97)<br>| 46 | &nbsp;&nbsp; — |
| **Total Warrants — 0.0%** <br>**(Cost: $30)** | **Total Warrants — 0.0%** <br>**(Cost: $30)** | &nbsp;&nbsp; 98815 |
| **Total Long-Term Investments — 95.0%** <br>**(Cost: $577,636,268)** | **Total Long-Term Investments — 95.0%** <br>**(Cost: $577,636,268)** | &nbsp;&nbsp; 561472690 |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 2.6%** | **Money Market Funds — 2.6%** |  |
| &nbsp;&nbsp;&nbsp; BlackRock Liquidity Funds, T-Fund, Institutional Shares, <br> 4.01%<sup>(p)(r)</sup><br>| 15494966 | &nbsp;&nbsp; 15494966 |
| **Total Short-Term Securities — 2.6%** <br>**(Cost: $15,494,966)** | **Total Short-Term Securities — 2.6%** <br>**(Cost: $15,494,966)** | &nbsp;&nbsp; 15494966 |
| **Options Purchased — 0.0%** <br>**(Cost: $44,351)** | **Options Purchased — 0.0%** <br>**(Cost: $44,351)** | &nbsp;&nbsp; 88536 |
| **Total Investments — 97.6%** <br>**(Cost: $593,175,585)** | **Total Investments — 97.6%** <br>**(Cost: $593,175,585)** | &nbsp;&nbsp; 577056192 |
| **Other Assets Less Liabilities — 2.4%** | **Other Assets Less Liabilities — 2.4%** | &nbsp;&nbsp; 14358415 |
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | &nbsp;&nbsp; $591414607 |

---

Consolidated Schedule of Investments

------

Consolidated Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Credit Strategies Fund**

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

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

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

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

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

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

<sup>(f)</sup> Restricted security as to resale, excluding 144A securities. The Fund held restricted securities with a current value of $2,746,980, representing 0.5% of its net assets as of period end, and an original cost of $3,007,517. 

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

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

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

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

<sup>(j)</sup> Step coupon security. Coupon rate will either increase (step-up bond) or decrease (step- down bond) at regular intervals until maturity. Interest rate shown reflects the rate currently in effect. 

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

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

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

<sup>(n)</sup> Rounds to less than 1,000.

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

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

<sup>(q)</sup> All or a portion of the security is held by a wholly-owned subsidiary.

<sup>(r)</sup> Annualized 7-day yield as of period end.

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

**Affiliates**

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

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*12/31/24*<br>| *Purchases* <br>*at Cost*<br>| *Proceeds* <br>*from Sales*<br>| *Net* <br>*Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*09/30/25*<br>| *Shares* <br>*Held at* <br>*09/30/25*<br>| *Income* | *Capital Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Liquidity Funds, T-Fund, Institutional Shares | $73339862 | $— | $(57844896 )<sup>(a)</sup><br>| &nbsp;&nbsp; $— | $— | $15494966 | 15494966 | $732791 | $— |
| iShares JP Morgan USD Emerging Markets Bond ETF | 1645104 |  | (1)<br>| &nbsp;&nbsp; — | 113627 | 1758730 | 18476 | 59621 |  |
|  |  |  |  | &nbsp;&nbsp; $— | $113627 | $17253696 |  | $792412 | $— |

---

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

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

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

**Futures Contracts** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Description* | *Number of* <br>*Contracts*<br>| &nbsp;&nbsp;&nbsp; *Expiration* <br>*Date*<br>| &nbsp;&nbsp;&nbsp; *Notional* <br>*Amount (000)*<br>| &nbsp;&nbsp;&nbsp; *Value/* <br>*Unrealized* <br>*Appreciation* <br>&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| Long Contracts  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; 10-Year U.S. Ultra Long Treasury Note | &nbsp;&nbsp; 18 | &nbsp;&nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp;&nbsp; $2071 | &nbsp;&nbsp;&nbsp;&nbsp; $17874 |
| &nbsp;&nbsp;&nbsp; U.S. Long Bond | &nbsp;&nbsp; 8 | &nbsp;&nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp;&nbsp; 933 | &nbsp;&nbsp;&nbsp;&nbsp; 23673 |
| &nbsp;&nbsp;&nbsp; 2-Year U.S. Treasury Note | &nbsp;&nbsp; 39 | &nbsp;&nbsp;&nbsp;&nbsp; 12/31/25 | &nbsp;&nbsp;&nbsp;&nbsp; 8126 | &nbsp;&nbsp;&nbsp;&nbsp; 13931 |
| &nbsp;&nbsp;&nbsp; 5-Year U.S. Treasury Note | &nbsp;&nbsp; 453 | &nbsp;&nbsp;&nbsp;&nbsp; 12/31/25 | &nbsp;&nbsp;&nbsp;&nbsp; 49455 | &nbsp;&nbsp;&nbsp;&nbsp; 104179 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 159657 |
| Short Contracts  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; 10-Year U.S. Treasury Note | &nbsp;&nbsp; 298 | &nbsp;&nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp;&nbsp; 33525 | &nbsp;&nbsp;&nbsp;&nbsp; (239867)<br>|
| &nbsp;&nbsp;&nbsp; Ultra U.S. Treasury Bond | &nbsp;&nbsp; 19 | &nbsp;&nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp;&nbsp; 2284 | &nbsp;&nbsp;&nbsp;&nbsp; (71003)<br>|
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; (310870)<br>|
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; $(151213)<br>|

---

**Forward Foreign Currency Exchange Contracts** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *Currency Purchased* | *Currency Purchased* | *Currency Sold* | *Currency Sold* | *Counterparty* | *Settlement Date* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Unrealized* <br>*Appreciation* <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| USD | 340382 | CHF | 270000 | Morgan Stanley & Co. International PLC | 10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $672 |
| USD | 11766 | EUR | 10000 | Deutsche Bank AG | 10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16 |

---

------

Consolidated Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Credit Strategies Fund**

**Forward Foreign Currency Exchange Contracts (continued)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *Currency* <br> *Purchased* | *Currency* <br> *Purchased* | *Currency Sold* | *Currency Sold* | *Counterparty* | *Settlement Date* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Unrealized*<br> *Appreciation*<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| USD | 224053 | EUR | 190000 | Morgan Stanley & Co. International PLC | 10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $807 |
| USD | 36634808 | EUR | 31150000 | Morgan Stanley & Co. International PLC | 10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 34107 |
| USD | 6810804 | GBP | 5020000 | Morgan Stanley & Co. International PLC | 10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 58906 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 94508 |
| USD | 58452 | EUR | 50000 | Deutsche Bank AG | 10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (297)<br>|
| USD | 70310 | EUR | 60000 | Deutsche Bank AG | 10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (189)<br>|
| USD | 435085 | EUR | 370000 | JPMorgan Chase Bank N.A. | 12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1219)<br>|
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1705)<br>|
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $92803 |

---

**Exchange-Traded Options Purchased** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| *Description* | *Number of* <br>*Contracts*<br>| &nbsp;&nbsp; *Expiration* <br>*Date*<br>| *Exercise Price* | *Exercise Price* | &nbsp;&nbsp;&nbsp; *Notional* <br>*Amount (000)* | &nbsp;&nbsp;&nbsp; *Notional* <br>*Amount (000)* | *Value* |
| Call  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; iShares MSCI Emerging Markets ETF | &nbsp;&nbsp; 1904 | &nbsp;&nbsp;&nbsp;&nbsp; 10/17/25 | USD | 54.00 | USD | 10167 | &nbsp;&nbsp;&nbsp;&nbsp; $88536 |

---

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

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Reference Obligation/Index* | *Financing* <br>*Rate Received* <br>*by the Fund*<br>| &nbsp;&nbsp;&nbsp; *Payment* <br>*Frequency*<br>| &nbsp;&nbsp;&nbsp; *Termination* <br>*Date*<br>| &nbsp;&nbsp;&nbsp; *Notional* <br>*Amount (000)*<sup>(b)</sup>  | &nbsp;&nbsp;&nbsp; *Notional* <br>*Amount (000)*<sup>(b)</sup>  | *Value* | &nbsp;&nbsp; *Upfront* <br>*Premium* <br>*Paid* <br>*(Received)*<br>| &nbsp;&nbsp; *Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>|
| CDX.NA.HY.44.V1 | 5.00<br> % <br>| Quarterly | 06/20/30<br> B | USD | 8250 | &nbsp;&nbsp;&nbsp; $670172 | &nbsp;&nbsp;&nbsp; $545143 | &nbsp;&nbsp;&nbsp; $125029 |

---

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

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

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

**OTC Credit Default Swaps — Sell Protection** 

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Reference Obligation/Index* | *Financing* <br>*Rate Received* <br>*by the Fund*<br>| &nbsp;&nbsp; *Payment* <br>*Frequency*<br>| *Counterparty* | *Termination* <br>*Date*<br>| *Credit* <br>*Rating*<sup>(a)</sup> <br>| *Notional* <br>*Amount (000)*<sup>(b)</sup>  | *Notional* <br>*Amount (000)*<sup>(b)</sup>  | *Value* | *Upfront* <br>*Premium* <br>*Paid* <br>*(Received)*<br>| *Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>|
| Faurecia SE | 5.00<br> % <br>| Quarterly | Goldman Sachs International | 06/20/29 | BB- | EUR | 49 | $6207 | $4341 | $1866 |
| Faurecia SE | 5.00 | Quarterly | Goldman Sachs International | 12/20/29 | BB- | EUR | 80 | 10072 | 4950 | 5122 |
| iTraxx.XO.42.V3 20-35% | 5.00 | Quarterly | BNP Paribas SA | 12/20/29 | B | EUR | 114 | 18706 | 14606 | 4100 |
| iTraxx.XO.42.V3 20-35% | 5.00 | Quarterly | Goldman Sachs International | 12/20/29 | B | EUR | 95 | 15589 | 14989 | 600 |
| Zegona Finance PLC | 5.00 | Quarterly | BNP Paribas SA | 06/20/30 | BB | EUR | 40 | 7254 | 6691 | 563 |
| Zegona Finance PLC | 5.00 | Quarterly | Deutsche Bank AG | 06/20/30 | BB | EUR | 40 | 7222 | 5306 | 1916 |
| Virgin Media Finance PLC | 5.00 | Quarterly | Goldman Sachs International | 12/20/30 | B- | EUR | 38 | 3558 | 3691 | (133)<br>|
|  |  |  |  |  |  |  |  | $68608 | $54574 | $14034 |

---

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

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

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

**Fair Value Hierarchy as of Period End**

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

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

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

Consolidated Schedule of Investments

------

Consolidated Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Credit Strategies Fund**

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

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Long-Term Investments  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset-Backed Securities | &nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $35495101 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $35495101 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common Stocks  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Beverages | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Biotechnology | &nbsp;&nbsp; 1034000 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1034000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Broadline Retail | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Construction & Engineering | &nbsp;&nbsp; 338 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 338 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Construction Materials | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer Discretionary | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Diversified Consumer Services | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Entertainment | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 17220 | &nbsp;&nbsp;&nbsp;&nbsp; 17220 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial Services | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 41299 | &nbsp;&nbsp;&nbsp;&nbsp; 41299 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ground Transportation | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 29 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 29 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health Care Providers & Services | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 32746 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 32746 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health Care Technology | &nbsp;&nbsp; 2040000 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2040000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Household Durables | &nbsp;&nbsp; 3996940 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 238472 | &nbsp;&nbsp;&nbsp;&nbsp; 4235412 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industrial Conglomerates | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 8444 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 8444 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; IT Services | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 30182 | &nbsp;&nbsp;&nbsp;&nbsp; 30182 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Real Estate Management & Development | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Retail REITs | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1697500 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1697500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Specialty Retail | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Trading Companies & Distributors | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 5973 | &nbsp;&nbsp;&nbsp;&nbsp; 5973 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Corporate Bonds  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Advertising Agencies | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 615390 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 615390 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aerospace & Defense | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 869553 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 869553 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Air Freight & Logistics | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 22957 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 22957 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Automobile Components | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2027616 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2027616 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Automobiles | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1196084 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1196084 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Banks | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2621329 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2621329 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Beverages | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 34340 | &nbsp;&nbsp;&nbsp;&nbsp; 34340 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Biotechnology | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 385796 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 385796 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Building Materials | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 944606 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 944606 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Building Products | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 267893 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 267893 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital Markets | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 307901 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 307901 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chemicals | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3300539 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3300539 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Commercial Services & Supplies | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4064929 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4064929 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Communications Equipment | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 51666 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 51666 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Construction & Engineering | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 840912 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 840912 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer Discretionary | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1167809 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1167809 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer Finance | &nbsp;&nbsp; 13769 | &nbsp;&nbsp;&nbsp;&nbsp; 1700691 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1714460 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer Staples Distribution & Retail | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1465630 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1465630 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Containers & Packaging | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1917545 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1917545 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Distributors | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 22828 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 22828 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Diversified REITs | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 435090 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 435090 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Diversified Telecommunication Services | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4330003 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4330003 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Electric Utilities | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1716220 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1716220 |

---

------

Consolidated Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Credit Strategies Fund**

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Corporate Bonds (continued) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Electronic Equipment, Instruments & Components | &nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $8293 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $8293 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energy Equipment & Services | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 741836 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 741836 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Entertainment | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1241027 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1241027 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Environmental, Maintenance & Security Service | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 283631 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 283631 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial Services | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3382569 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3382569 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Food Products | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1164834 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1164834 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ground Transportation | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 129210 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 129210 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health Care Equipment & Supplies | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 250271 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 250271 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health Care Providers & Services | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1509007 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1509007 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health Care REITs | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 9554289 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 9554289 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hotel & Resort REITs | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 254125 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 254125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hotels, Restaurants & Leisure | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4242216 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4242216 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Household Durables | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 173994 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 173994 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Independent Power and Renewable Electricity Producers | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 820117 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 820117 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industrial Conglomerates | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 247072 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 247072 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Insurance | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3114151 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3114151 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interactive Media & Services | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 5295536 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 5295536 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Internet Software & Services | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 738088 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 738088 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; IT Services | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1409976 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1409976 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Leisure Products | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 694774 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 694774 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Machinery | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 661623 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 661623 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Media | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2641446 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2641446 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Metals & Mining | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 853851 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 853851 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortgage Real Estate Investment Trusts (REITs) | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 33741 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 33741 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Multi-Utilities | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 6281 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 6281 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Oil, Gas & Consumable Fuels | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3838839 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3838839 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Passenger Airlines | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 299987 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 299987 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Personal Care Products | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 6649116 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 6649116 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pharmaceuticals | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1851203 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1851203 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Real Estate Management & Development | &nbsp;&nbsp; 117764 | &nbsp;&nbsp;&nbsp;&nbsp; 3254056 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3371820 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Retail REITs | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 13750 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 13750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Semiconductors & Semiconductor Equipment | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 172191 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 172191 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Software | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 8342324 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 8342324 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Specialty Retail | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 830676 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 830676 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Textiles, Apparel & Luxury Goods | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 760151 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 760151 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transportation Infrastructure | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1140486 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1140486 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wireless Telecommunication Services | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 8057112 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 8057112 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fixed Rate Loan Interests | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 12404281 | &nbsp;&nbsp;&nbsp;&nbsp; 5036619 | &nbsp;&nbsp;&nbsp;&nbsp; 17440900 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Floating Rate Loan Interests | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 115468524 | &nbsp;&nbsp;&nbsp;&nbsp; 245745334 | &nbsp;&nbsp;&nbsp;&nbsp; 361213858 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign Agency Obligations | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1145087 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1145087 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investment Companies  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity Funds | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 12869 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 12869 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fixed Income Funds | &nbsp;&nbsp; 2985228 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1693507 | &nbsp;&nbsp;&nbsp;&nbsp; 4678735 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Municipal Bonds | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4824085 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4824085 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Preferred Securities |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital Trusts | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 14749564 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 14749564 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Preferred Stocks | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1375 | &nbsp;&nbsp;&nbsp;&nbsp; 7568445 | &nbsp;&nbsp;&nbsp;&nbsp; 7569820 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Warrants | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 357 | &nbsp;&nbsp;&nbsp;&nbsp; 98458 | &nbsp;&nbsp;&nbsp;&nbsp; 98815 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-Term Securities  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp; 15494966 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 15494966 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Options Purchased  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity Contracts | &nbsp;&nbsp; 88536 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 88536 |
| &nbsp;&nbsp;&nbsp; Unfunded Floating Rate Loan Interests<sup>(a)</sup> | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 11932 | &nbsp;&nbsp;&nbsp;&nbsp; 94280 | &nbsp;&nbsp;&nbsp;&nbsp; 106212 |
| Liabilities |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Unfunded Floating Rate Loan Interests<sup>(a)</sup> | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (106)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (118265)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (118371)<br>|
|  | &nbsp;&nbsp; $25771541 | &nbsp;&nbsp;&nbsp;&nbsp; $290786624 | &nbsp;&nbsp;&nbsp;&nbsp; $260485868 | &nbsp;&nbsp;&nbsp;&nbsp; $577044033 |
| Derivative Financial Instruments<sup>(b)</sup> <br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Assets  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Credit Contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $139196 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $139196 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign Currency Exchange Contracts | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 94508 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 94508 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest Rate Contracts | &nbsp;&nbsp; 159657 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 159657 |

---

Consolidated Schedule of Investments

------

Consolidated Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Credit Strategies Fund**

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| &nbsp;&nbsp;&nbsp; Liabilities  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Credit Contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $(133)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $(133)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign Currency Exchange Contracts | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (1705)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (1705)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest Rate Contracts | &nbsp;&nbsp; (310870)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (310870)<br>|
|  | &nbsp;&nbsp; $(151213)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $231866 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $80653 |

---

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

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

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

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

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Asset-Backed* <br>*Securities*<br>| *Common* <br>*Stocks*<br>| *Corporate* <br>*Bonds*<br>| *Fixed* <br>*Rate Loan* <br>*Interests*<br>| *Floating* <br>*Rate Loan* <br>*Interests*<br>| *Investment* <br>*Companies*<br>| *Preferred* <br>*Stocks*<br>| *Unfunded* <br>*Floating* <br>*Rate Loan* <br>*Interests*<br>|
| **Assets** |  |  |  |  |  |  |  |  |
| Opening balance, as of December 31, 2024 | &nbsp;&nbsp; $1000000 | $1352233 | $85458 | $3646756 | $258529849 | $— | $5491882 | $(88115)<br>|
| Transfers into Level 3 | &nbsp;&nbsp; — |  |  | 687 | 1639141 |  |  |  |
| Transfers out of Level 3 | &nbsp;&nbsp; (1000000)<br>|  | (85458)<br>| (744541)<br>| (7633637)<br>|  |  | 1891 |
| Accrued discounts/premiums | &nbsp;&nbsp; — |  |  | (1014)<br>| 650580 |  |  |  |
| Net realized gain (loss) | &nbsp;&nbsp; — | 513935 |  | (415994)<br>| (14911140)<br>|  | 45644 |  |
| Net change in unrealized appreciation (depreciation)<sup>(a)</sup> | &nbsp;&nbsp; — | (739560)<br>|  | 601774 | 9164211 | (77110)<br>| 968077 | 62239 |
| Purchases | &nbsp;&nbsp; — | 615216 | 34340 | 2613573 | 73845469 | 1770617 | 1644342 |  |
| Sales | &nbsp;&nbsp; — | (1408674)<br>|  | (664622)<br>| (75539139)<br>|  | (581500)<br>|  |
| Closing balance, as of September 30, 2025 | &nbsp;&nbsp; $— | $333150 | $34340 | $5036619 | $245745334 | $1693507 | $7568445 | $(23985)<br>|
| &nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) on investments still held <br> at September 30, 2025<sup>(a)</sup><br>| &nbsp;&nbsp; $— | $(615317)<br>| $— | $119149 | $(1597692)<br>| $(77110)<br>| $968077 | $29381 |

---

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

---

| | | |
|:---|:---|:---|
|  | *Warrants* | *Total*  |
| **Assets** |  |  |
| Opening balance, as of December 31, 2024 | &nbsp;&nbsp; $27419 | $270045482 |
| Transfers into Level 3 | &nbsp;&nbsp; — | 1639828 |
| Transfers out of Level 3 | &nbsp;&nbsp; (286)<br>| (9462031)<br>|
| Accrued discounts/premiums | &nbsp;&nbsp; — | 649566 |
| Net realized gain (loss) | &nbsp;&nbsp; — | (14767555)<br>|
| Net change in unrealized appreciation (depreciation)<sup>(a)</sup> | &nbsp;&nbsp; 71325 | 10050956 |
| Purchases | &nbsp;&nbsp; — | 80523557 |
| Sales | &nbsp;&nbsp; — | (78193935)<br>|
| Closing balance, as of September 30, 2025 | &nbsp;&nbsp; $98458 | $260485868 |
| Net change in unrealized appreciation (depreciation) on investments still held at September 30, 2025<sup>(a)</sup> | &nbsp;&nbsp; $71325 | $(1102187)<br>|

---

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

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

The following table summarizes the valuation approaches used and unobservable inputs utilized by the Valuation Committee to determine the value of certain of the Fund's Level 3 financial instruments as of period end. The table does not include Level 3 financial instruments with values based upon unadjusted third-party pricing information in the amount of $53,257,647.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | *Value* | &nbsp;&nbsp;&nbsp; *Valuation* <br>*Approach*<br>| &nbsp;&nbsp;&nbsp; *Unobservable* <br>*Inputs*<br>| &nbsp;&nbsp;&nbsp; *Range of* <br>*Unobservable* <br>*Inputs* <br>*Utilized*<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp; *Weighted* <br>*Average of* <br>*Unobservable* <br>*Inputs Based* <br>*on Fair Value* <br>|
| **Assets** |  |  |  |  |  |
| Floating Rate Loan Interests | &nbsp;&nbsp; $196756935 | Income | Discount Rate | 8% - 27% | 10% |
|  |  | Market | Revenue Multiple | 0.33x -1.40x | 0.68x |
|  |  |  | EBITDA Multiple | 4.00x - 10.00x | 6.93x |

---

------

Consolidated Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Credit Strategies Fund**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | *Value* | &nbsp;&nbsp;&nbsp; *Valuation*<br> *Approach*<br>| &nbsp;&nbsp;&nbsp; *Unobservable*<br> *Inputs*<br>| &nbsp;&nbsp;&nbsp; *Range of*<br> *Unobservable*<br> *Inputs*<br> *Utilized*<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; *Weighted*<br> *Average of*<br> *Unobservable*<br> *Inputs Based*<br> *on Fair Value* <br>|
| Common Stock | &nbsp;&nbsp; 30182 | Market | EBITDA Multiple | 13.25x |  |
|  |  |  | Revenue Multiple | 0.33x |  |
| Fixed Rate Loan Interests | &nbsp;&nbsp; 2475893 | Income | Discount Rate | 0.12 |  |
| Preferred Stocks | &nbsp;&nbsp; 7559732 | Income | Discount Rate | 10% -15% | 15% |
|  |  | Market | Revenue Multiple | 0.50x - 1.50x | 1.10x |
|  |  |  | Time to Exit | 2.0 years |  |
|  |  |  | Volatility | 0.45 |  |
|  |  |  | EBITDA Multiple | 4.00x - 30.42x | 4.31x |
|  |  |  | Discount for lack of marketability | 10% -15% | 10% |
| Warrants | &nbsp;&nbsp; 405479 | Market | Revenue Multiple | 5.00x |  |
|  |  |  | Time to Exit | 2.0 years |  |
|  |  |  | Volatility | 0.45 |  |
|  |  |  | EBITDA Multiple | 30.42x |  |
|  |  |  | Discount for lack of marketability | 0.15 |  |
|  |  | Income | Discount Rate | 12% -15% | 12% |
|  | &nbsp;&nbsp; $207228221 |  |  |  |  |

---

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

<sup>(a)</sup> A significant change in unobservable input could result in a correlated or inverse change in value.

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

---

| | |
|:---|:---|
| **Currency Abbreviation**  | **Currency Abbreviation**  |
| CHF | Swiss Franc |
| EUR | Euro |
| GBP | British Pound |
| USD | United States Dollar |

---

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

---

| | |
|:---|:---|
| **Portfolio Abbreviation**  | **Portfolio Abbreviation**  |
| AMT | Alternative Minimum Tax |
| CLO | Collateralized Loan Obligation |
| CME | Chicago Mercantile Exchange  |
| CMT | Constant Maturity Treasury |
| DAC | Designated Activity Company  |
| DIP | Debtor-In-Possession |
| ETF | Exchange-Traded Fund |
| EURIBOR | Euro Interbank Offered Rate |
| GO | General Obligation Bonds |
| MSCI | Morgan Stanley Capital International |
| PCL | Public Company Limited |
| PIK | Payment-in-Kind |
| PJSC | Public Joint Stock Company |
| RB | Revenue Bonds |
| REIT | Real Estate Investment Trust |
| SOFR | Secured Overnight Financing Rate |

---

Consolidated Schedule of Investments

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** BlackRock Credit Strategies Fund

- **b. Investment Company Act file number:** 811-23380

- **c. CIK number of Registrant:** 0001752019

- **d. LEI of Registrant:** 549300NKFMDROHVOFA80

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

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

  - **City:** Wilmington

  - **State:** DE

  - **Foreign country:** US

  - **Zip / Postal Code:** 19809

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

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

- **a. Name of Series:** BlackRock Credit Strategies Fund

- **c. LEI of Series:** 549300NKFMDROHVOFA80

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

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

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $643187554.97

**Total Liabilities:** $55236646.86

**Net Assets:** $587950908.11

**Delayed Delivery Securities:** $12875700.82

**Cash Not Reported:** $1600394.27

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 10028.90000000 | **1-Year:** 102.32000000 | **5-Year:** 1712.47000000 | **10-Year:** 1331.70000000 | **30-Year:** 1272.01000000

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

- **3-Month:** 76709.06000000 | **1-Year:** 6780.15000000 | **5-Year:** 51708.22000000 | **10-Year:** 3930.12000000 | **30-Year:** 918.14000000

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | 0.68%                | 1.15%                | 0.77%                |
| Class ID N/A | 0.70%                | 1.18%                | 0.91%                |
| Class ID N/A | 0.68%                | 1.16%                | 0.77%                |
| Class ID N/A | 0.68%                | 1.15%                | 0.89%                |
| Class ID N/A | 0.74%                | 1.22%                | 0.84%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-1587396.57             | $-153589.80                                |
| Month 2  | $953213.73               | $3043447.67                                |
| Month 3  | $-300798.61              | $1166877.52                                |

**Designated Index Information**

- **Index Name:** Fund`s Designated Reference Portfolio is the Fund`s Securities Portfolio

- **Index Identifier:** Fund`s Designated Reference Portfolio is the Fund`s Securities Portfolio

### Schedule of Portfolio Investments

| Name                                                  | Title                                                                            | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| CHS/COMMUNITY HEALTH SYS                              | CHS/Community Health Systems Inc                                                 | CUSIP: 12543DBH2<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |      4000 | PA      | $3882.56      | 0.00%             | 2029-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| AMS-OSRAM AG                                          | ams-OSRAM AG                                                                     | CUSIP: 000000000<br>LEI: 5299001JPPT2QFTV5D76 | Long             | DBT              | CORP              | AT        |    100000 | PA      | $125087.29    | 0.02%             | 2029-03-30      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| SCIENTIFIC GAMES HOLDINGS LP                          | Scientific Games Holdings LP 2024 USD Term Loan B                                | CUSIP: 80875CAE7<br>LEI: 549300W5GPFXXB6TQ330 | Long             | LON              | CORP              | US        |     35715 | PA      | $35398.02     | 0.01%             | 2029-04-04      | Floating      | 7.29%                 | No            |                  2 | On Loan: No      |
| ADLER Group SA                                        | ADLER Group SA                                                                   | CUSIP: 000000000<br>LEI: 391200OYYFJ3DWAMEC69 | Long             | EC               | CORP              | LU        |     16485 | NS      | $0.19         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| SUNOCO LP                                             | Sunoco LP                                                                        | CUSIP: 86765KAE9<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |    110000 | PA      | $111728.10    | 0.02%             | 2030-09-18      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| X.AI LLC/X.AI CO ISSUER                               | X.AI LLC / X.AI Co Issuer Corp                                                   | CUSIP: 983984AA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3600000 | PA      | $3775312.80   | 0.64%             | 2030-06-30      | Fixed         | 12.50%                | No            |                  2 | On Loan: No      |
| TK ELEVATOR MIDCO GMBH                                | TK Elevator Midco GmbH 2025 USD Term Loan B                                      | CUSIP: 000000000<br>LEI: 549300C2AFWPAYWS5574 | Long             | LON              | CORP              | US        |    124376 | PA      | $124646.92    | 0.02%             | 2030-04-30      | Floating      | 7.20%                 | No            |                  2 | On Loan: No      |
| Tele Columbus AG                                      | Tele Columbus AG                                                                 | CUSIP: 000000000<br>LEI: 3912004GMFDLY04RUQ19 | Long             | DBT              | CORP              | DE        |    126817 | PA      | $100330.73    | 0.02%             | 2029-01-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| TKO WORLDWIDE HOLDINGS LLC                            | TKO WORLDWIDE HOLDINGS LLC 2025 TERM LOAN                                        | CUSIP: 90266UAL7<br>LEI: 549300JEOTH7UMZ3C491 | Long             | LON              | CORP              | US        |     40898 | PA      | $40942.08     | 0.01%             | 2031-11-21      | Floating      | 6.04%                 | No            |                  2 | On Loan: No      |
| CROWN FINANCE US INC                                  | Crown Finance US Inc 2025 Term Loan B                                            | CUSIP: 22834KAV3<br>LEI: 254900ABTWPQTCKKR839 | Long             | LON              | CORP              | US        |     49700 | PA      | $49557.74     | 0.01%             | 2031-12-02      | Floating      | 8.78%                 | No            |                  2 | On Loan: No      |
| OUTFRONT MEDIA CAP LLC/C                              | Outfront Media Capital LLC / Outfront Media Capital Corp                         | CUSIP: 69007TAC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     79000 | PA      | $75926.19     | 0.01%             | 2030-03-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| NISSAN MOTOR ACCEPTANCE                               | Nissan Motor Acceptance Co LLC                                                   | CUSIP: 65480CAL9<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |     34000 | PA      | $34011.61     | 0.01%             | 2030-09-30      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AG                                      | Deutsche Bank AG                                                                 | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    200000 | PA      | $256433.80    | 0.04%             | 2029-10-30      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| Core & Main LP                                        | Core & Main LP 2024 Term Loan D                                                  | CUSIP: 40416VAG0<br>LEI: 549300ZSLF8Q660SCD17 | Long             | LON              | CORP              | US        |    120072 | PA      | $120021.39    | 0.02%             | 2028-07-27      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| CHART INDUSTRIES INC                                  | Chart Industries Inc 2024 Term Loan B                                            | CUSIP: 16115EAT4<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | LON              | CORP              | US        |     22595 | PA      | $22680.17     | 0.00%             | 2030-03-15      | Floating      | 6.79%                 | No            |                  2 | On Loan: No      |
| PLURALSIGHT LLC                                       | PLURALSIGHT LLC                                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    208956 | NS      | $2.09         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Hanna Andersson LLC                                   | Hanna Andersson LLC Term Loan                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2922500 | PA      | $2922500.00   | 0.50%             | 2026-07-02      | Floating      | 10.66%                | No            |                  3 | On Loan: No      |
| ESSENDI SA                                            | Essendi SA                                                                       | CUSIP: 000000000<br>LEI: 2221000MD2YP7WLTNC52 | Long             | DBT              | CORP              | LU        |    154000 | PA      | $186424.33    | 0.03%             | 2032-05-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| ZAYO GROUP HOLDINGS INC                               | Zayo Group Holdings Inc                                                          | CUSIP: 98919VAD7<br>LEI: 529900Z6OTS7RT0V0I47 | Long             | DBT              | CORP              | US        |     27698 | PA      | $26244.33     | 0.00%             | 2030-09-09      | Fixed         | 13.75%                | No            |                  2 | On Loan: No      |
| Penn Entertainment Inc                                | PENN Entertainment Inc 2022 Term Loan B                                          | CUSIP: 70757DAZ2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     91387 | PA      | $91272.95     | 0.02%             | 2029-05-03      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| American Airlines, Inc.                               | American Airlines Inc 2025 Term Loan B                                           | CUSIP: 02376CBT1<br>LEI: IWUQB36BXD6OWD6X4T14 | Long             | LON              | CORP              | KY        |     32918 | PA      | $33040.94     | 0.01%             | 2032-05-28      | Floating      | 7.58%                 | No            |                  2 | On Loan: No      |
| FLUTTER TREASURY DAC                                  | Flutter Treasury DAC                                                             | CUSIP: 000000000<br>LEI: 635400JE8VLL9UFVIC38 | Long             | DBT              | CORP              | IE        |    128000 | PA      | $150593.93    | 0.03%             | 2031-06-04      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Madison Safety & Flow LLC                             | Madison Safety & Flow LLC 2025 Term Loan B                                       | CUSIP: 55822DAM3<br>LEI: 5493007D2J7BBIFYBY65 | Long             | LON              | CORP              | US        |     23994 | PA      | $24008.94     | 0.00%             | 2031-09-26      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| SUMITOMO LIFE INSUR                                   | Sumitomo Life Insurance Co                                                       | CUSIP: 000000000<br>LEI: 549300I5OQCDADQSPI57 | Long             | DBT              | CORP              | JP        |    200000 | PA      | $204831.80    | 0.03%             | 2034-01-18      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Amentum Government Services Holdings LLC              | Amentum Government Services Holdings LLC 2024 Term Loan B                        | CUSIP: 02351XAB4<br>LEI: 2549009FJIBLW40CU216 | Long             | LON              | CORP              | US        |     61600 | PA      | $61526.68     | 0.01%             | 2031-09-29      | Floating      | 6.41%                 | No            |                  2 | On Loan: No      |
| ALLIED UNIVERSAL HOLDCO                               | Allied Universal Holdco LLC                                                      | CUSIP: 019576AD9<br>LEI: 98450038B4549046D794 | Long             | DBT              | CORP              | US        |    224000 | PA      | $234863.04    | 0.04%             | 2031-02-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| NEPTUNE BIDCO US INC                                  | Neptune Bidco US Inc                                                             | CUSIP: 640695AA0<br>LEI: 549300VG15T3VCYZ4531 | Long             | DBT              | CORP              | US        |     73000 | PA      | $71663.37     | 0.01%             | 2029-04-15      | Fixed         | 9.29%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                              | Hilcorp Energy I LP / Hilcorp Finance Co                                         | CUSIP: 431318BG8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     10000 | PA      | $9772.87      | 0.00%             | 2035-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| ALLIED UNIVERSAL HOLDCO LLC                           | Allied Universal Holdco LLC 2025 USD Term Loan B                                 | CUSIP: 01957TAX5<br>LEI: 98450038B4549046D794 | Long             | LON              | CORP              | US        |    249148 | PA      | $249940.76    | 0.04%             | 2032-08-20      | Floating      | 7.51%                 | No            |                  2 | On Loan: No      |
| PACHELBEL BIDCO SPA                                   | Pachelbel Bidco SpA                                                              | CUSIP: 000000000<br>LEI: 8156005DA07CDD50CC46 | Long             | DBT              | CORP              | IT        |    100000 | PA      | $126494.54    | 0.02%             | 2031-05-17      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| OHA Loan Funding Ltd                                  | OHA Loan Funding 2013-1 Ltd                                                      | CUSIP: 67706HCC0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    750000 | PA      | $757367.55    | 0.13%             | 2037-04-23      | Floating      | 7.62%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SRI LANKA                                 | Sri Lanka Government International Bond                                          | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |    184902 | PA      | $158645.92    | 0.03%             | 2033-03-15      | Variable      | 3.35%                 | No            |                  2 | On Loan: No      |
| GRIFOLS SA                                            | Grifols SA                                                                       | CUSIP: 000000000<br>LEI: 959800HSSNXWRKBK4N60 | Long             | DBT              | CORP              | ES        |    234000 | PA      | $289391.54    | 0.05%             | 2030-05-01      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| Oak Hill Credit                                       | OHA Credit Funding 2 LTD                                                         | CUSIP: 67707ECA0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1008750.20   | 0.17%             | 2038-01-21      | Floating      | 7.03%                 | No            |                  2 | On Loan: No      |
| ION TRADING TECHNOLOGIES                              | ION Trading Technologies Sarl                                                    | CUSIP: 46205YAA9<br>LEI: 5493009ZVXOKZLQ6QJ12 | Long             | DBT              | CORP              | LU        |    200000 | PA      | $196265.64    | 0.03%             | 2028-05-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| iShares J.P. Morgan USD Emerging Markets Bond ETF     | iShares J.P. Morgan USD Emerging Markets Bond ETF                                | CUSIP: 464288281<br>LEI: 54930070R8WH6MNUJG74 | Long             | EC               | RF                | US        |     18476 | NS      | $1758730.44   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Oasis Financial LLC                                   | Oasis Financial LLC 2nd Lien Term Loan                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    833333 | PA      | $841666.66    | 0.14%             | 2026-07-05      | Floating      | 12.78%                | No            |                  3 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                           | SWAP/CDSWAP/SCDS: (VMED)                                                         | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              |  | GB        |     38000 | OU      | $3557.41      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP                                     | Clarios Global LP 2025 USD Term Loan B                                           | CUSIP: 000000000<br>LEI: 549300474L1ZLXZY2P98 | Long             | LON              | CORP              | US        |     79000 | PA      | $78975.51     | 0.01%             | 2032-01-28      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| IRCA SPA/GALLARATE                                    | Irca SpA/Gallarate                                                               | CUSIP: 000000000<br>LEI: 815600CDE52BA2426216 | Long             | DBT              | CORP              | IT        |    100000 | PA      | $118250.85    | 0.02%             | 2029-12-15      | Floating      | 5.76%                 | No            |                  2 | On Loan: No      |
| ADVANCE AUTO PARTS                                    | Advance Auto Parts Inc                                                           | CUSIP: 00751YAK2<br>LEI: 529900UCNQ5H9FSL0Y70 | Long             | DBT              | CORP              | US        |     11000 | PA      | $11317.38     | 0.00%             | 2030-08-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Flutter Financing BV                                  | Flutter Financing BV 2024 Term Loan B                                            | CUSIP: 000000000<br>LEI: 635400VFWPBIKJK6GN11 | Long             | LON              | CORP              | NL        |    169972 | PA      | $169250.12    | 0.03%             | 2030-11-30      | Floating      | 5.75%                 | No            |                  2 | On Loan: No      |
| NASSAU COMPANIES OF NY                                | Nassau Cos of New York/The                                                       | CUSIP: 63155AAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      6000 | PA      | $6127.89      | 0.00%             | 2030-07-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| ARDONAGH FINCO LTD                                    | Ardonagh Finco Ltd                                                               | CUSIP: 000000000<br>LEI: 254900D2T84O1K03BA28 | Long             | DBT              | CORP              | JE        |    266000 | PA      | $322796.94    | 0.05%             | 2031-02-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| TL Voltron Purchaser LLC                              | TL Voltron Purchaser LLC Term Loan                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     80548 | PA      | $79178.31     | 0.01%             | 2030-12-31      | Floating      | 9.41%                 | No            |                  3 | On Loan: No      |
| TEREOS FINANCE GROUPE I                               | Tereos Finance Groupe I SA                                                       | CUSIP: 000000000<br>LEI: 969500183Z46A3QF8W69 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $362397.96    | 0.06%             | 2028-04-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Clear Channel Outdoor Holdings Inc                    | Clear Channel Outdoor Holdings Inc 2024 Term Loan                                | CUSIP: 18452RAF2<br>LEI: 254900XBEE6V1ENYS150 | Long             | LON              | CORP              | US        |     30453 | PA      | $30475.65     | 0.01%             | 2028-08-23      | Floating      | 8.28%                 | No            |                  2 | On Loan: No      |
| TouchTunes Interactive Networks Inc                   | TouchTunes Interactive Networks Inc 2024 Incremental Term Loan                   | CUSIP: 87222BAD6<br>LEI: 254900M8EWU7MLR0PW90 | Long             | LON              | CORP              | US        |   3562611 | PA      | $3503222.00   | 0.60%             | 2029-04-02      | Floating      | 8.75%                 | No            |                  2 | On Loan: No      |
| US FOODS INC                                          | US Foods Inc 2024 1st Lien Term Loan B                                           | CUSIP: 90351HAG3<br>LEI: 5493000JOOFAOUY1JZ87 | Long             | LON              | CORP              | US        |     27790 | PA      | $27948.68     | 0.00%             | 2031-10-03      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AG                                      | SWAP/CDSWAP/SCDS: (ZEGLN)                                                        | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DCR              |  | GB        |     39824 | OU      | $7221.94      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ZF EUROPE FINANCE BV                                  | ZF Europe Finance BV                                                             | CUSIP: 000000000<br>LEI: 549300RI533US2G6G542 | Long             | DBT              | CORP              | NL        |    100000 | PA      | $121869.61    | 0.02%             | 2030-06-12      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| MELCO RESORTS FINANCE                                 | Melco Resorts Finance Ltd                                                        | CUSIP: 000000000<br>LEI: 5493000FQDBWKDBZEF60 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $209500.00    | 0.04%             | 2032-04-17      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| VAR ENERGI ASA                                        | Var Energi ASA                                                                   | CUSIP: 000000000<br>LEI: 549300LIVN3FFOJN2K47 | Long             | DBT              | CORP              | NO        |    300000 | PA      | $390552.91    | 0.07%             | 2083-11-15      | Fixed         | 7.86%                 | No            |                  2 | On Loan: No      |
| DISH NETWORK CORP                                     | DISH Network Corp                                                                | CUSIP: 25470MAG4<br>LEI: 529900U350CWHH15G169 | Long             | DBT              | CORP              | US        |    102000 | PA      | $107942.21    | 0.02%             | 2027-11-15      | Fixed         | 11.75%                | No            |                  2 | On Loan: No      |
| DELUXE CORP                                           | Deluxe Corp                                                                      | CUSIP: 248019AW1<br>LEI: KWGNKB8TX9LE5TV29231 | Long             | DBT              | CORP              | US        |      8000 | PA      | $8353.73      | 0.00%             | 2029-09-15      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| FIESTA PURCHASER INC                                  | Fiesta Purchaser Inc                                                             | CUSIP: 31659AAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      7000 | PA      | $7387.33      | 0.00%             | 2031-03-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| KEHE DIST/FIN / NEXTWAVE                              | KeHE Distributors LLC / KeHE Finance Corp / NextWave Distribution Inc            | CUSIP: 487526AC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      9000 | PA      | $9469.38      | 0.00%             | 2029-02-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                         | TransDigm Inc                                                                    | CUSIP: 893647CA3<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    141000 | PA      | $145788.22    | 0.02%             | 2034-01-31      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Camelot US Acquisition LLC                            | Camelot US Acquisition LLC 2024 Term Loan B                                      | CUSIP: 000000000<br>LEI: 549300U6VBJHQP2SFL81 | Long             | LON              | CORP              | US        |     40683 | PA      | $40416.52     | 0.01%             | 2031-01-31      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE PRIVATE CRE                                | Blackstone Private Credit Fund                                                   | CUSIP: 09261HBW6<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |     38000 | PA      | $38913.79     | 0.01%             | 2034-11-22      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Cloudera Inc                                          | Cloudera Inc 2021 Term Loan                                                      | CUSIP: 74339VAB4<br>LEI: 549300PGONC4JOI0RG62 | Long             | LON              | CORP              | US        |     34824 | PA      | $34199.88     | 0.01%             | 2028-10-08      | Floating      | 8.01%                 | No            |                  2 | On Loan: No      |
| WILDFIRE INTERMEDIATE HO                              | Wildfire Intermediate Holdings LLC                                               | CUSIP: 96812HAA6<br>LEI: 5493003RHEMQJZEXIR02 | Long             | DBT              | CORP              | US        |     32000 | PA      | $32332.00     | 0.01%             | 2029-10-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SRI LANKA                                 | Sri Lanka Government International Bond                                          | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |     89294 | PA      | $85543.27     | 0.01%             | 2028-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SUMITOMO MITSUI FINL GRP                              | Sumitomo Mitsui Financial Group Inc                                              | CUSIP: 86562MDW7<br>LEI: 35380028MYWPB6AUO129 | Long             | DBT              | CORP              | JP        |    300000 | PA      | $306238.50    | 0.05%             | 2035-06-05      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| Mobico Group PLC                                      | Mobico Group PLC                                                                 | CUSIP: 000000000<br>LEI: 213800A8IQEMY8PA5X34 | Long             | DBT              | CORP              | GB        |    135000 | PA      | $124768.00    | 0.02%             | 2031-09-26      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO                              | Clear Channel Outdoor Holdings Inc                                               | CUSIP: 18453HAG1<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |     65000 | PA      | $67187.38     | 0.01%             | 2031-02-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| WINTERSHALL DEA FIN 2BV                               | Wintershall Dea Finance 2 BV                                                     | CUSIP: 000000000<br>LEI: 529900DV88FUQZSVVL48 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $245376.59    | 0.04%             | 2030-05-08      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                                | Venture Global LNG Inc                                                           | CUSIP: 92332YAD3<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |     72000 | PA      | $78388.07     | 0.01%             | 2032-02-01      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| Oryx Midstream Services Permian Basin LLC             | Oryx Midstream Services Permian Basin LLC 2025 Term Loan B                       | CUSIP: 68764JAJ0<br>LEI: 254900YYHRDANYFAHC43 | Long             | LON              | CORP              | US        |    129058 | PA      | $128984.71    | 0.02%             | 2028-10-05      | Floating      | 6.42%                 | No            |                  2 | On Loan: No      |
| ATOS SE                                               | Atos SE                                                                          | CUSIP: 000000000<br>LEI: 5493001EZOOA66PTBR68 | Long             | SN               | CORP              | FR        |    180000 | PA      | $199297.39    | 0.03%             | 2030-12-18      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| BOOTS GROUP BIDCO LTD                                 | BOOTS GROUP BIDCO LTD USD TERM LOAN                                              | CUSIP: 09947PAB7<br>LEI: 254900YVLYOVF1PF1N93 | Long             | LON              | CORP              | US        |     60000 | PA      | $60124.80     | 0.01%             | 2032-08-30      | Floating      | 7.70%                 | No            |                  2 | On Loan: No      |
| COMMSCOPE LLC                                         | CommScope LLC                                                                    | CUSIP: 203372AX5<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |     52000 | PA      | $51666.16     | 0.01%             | 2029-09-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| RAKUTEN GROUP INC                                     | Rakuten Group Inc                                                                | CUSIP: 000000000<br>LEI: 529900IMXUCQKUL1H943 | Long             | DBT              | CORP              | JP        |    200000 | PA      | $224892.96    | 0.04%             | 2029-04-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| LGI HOMES INC                                         | LGI Homes Inc                                                                    | CUSIP: 50187TAH9<br>LEI: 549300W02B4WNV8CV109 | Long             | DBT              | CORP              | US        |      6000 | PA      | $6298.92      | 0.00%             | 2028-12-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Keep Truckin Inc                                      | Keep Truckin Inc Delayed Draw Term Loan 2                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1511906 | PA      | $1524001.51   | 0.26%             | 2027-04-08      | Floating      | 11.53%                | No            |                  3 | On Loan: No      |
| Thermostat Purchaser III Inc                          | Thermostat Purchaser III Inc 2nd Lien Term Loan                                  | CUSIP: 000000000<br>LEI: 254900K7OD47ERJZN242 | Long             | LON              | CORP              | US        |   1387806 | PA      | $1387805.51   | 0.24%             | 2029-08-31      | Floating      | 11.60%                | No            |                  3 | On Loan: No      |
| Florida Development Finance Corp                      | FLORIDA ST DEV FIN CORP                                                          | CUSIP: 340618DQ7<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    500000 | PA      | $415171.40    | 0.07%             | 2041-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DEEP BLUE OPERATING I LLC                             | DEEP BLUE OPERATING I LLC TERM LOAN                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     14000 | PA      | $14000.00     | 0.00%             | 2032-09-17      | Floating      | 6.88%                 | No            |                  2 | On Loan: No      |
| Lightspeed Solution,LLC                               | Lightspeed SolutionLLC 2025 2nd Amendment Incremental Term Loan                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     91844 | PA      | $91182.84     | 0.02%             | 2028-03-01      | Floating      | 10.17%                | No            |                  3 | On Loan: No      |
| Bynder Holding BV                                     | Bynder Holding BV Term Loan Tranche B                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | NL        |     54375 | PA      | $54443.72     | 0.01%             | 2029-01-26      | Floating      | 10.14%                | No            |                  3 | On Loan: No      |
| HSBC HOLDINGS PLC                                     | HSBC Holdings PLC                                                                | CUSIP: 404280FA2<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    400000 | PA      | $416425.60    | 0.07%             | 2030-06-05      | Fixed         | 7.05%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                              | CHS/Community Health Systems Inc                                                 | CUSIP: 12543DBK5<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |     17000 | PA      | $14700.72     | 0.00%             | 2031-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Jobandtalent USA Inc                                  | Jobandtalent USA Inc 3rd Incremental Term Loan                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1991307 | PA      | $2027150.19   | 0.34%             | 2025-08-17      | Floating      | 11.16%                | No            |                  3 | On Loan: No      |
| HAH GROUP HOLDING CO LLC                              | HAH Group Holding Co LLC                                                         | CUSIP: 40518JAA7<br>LEI: 254900FFJQHW9R90FL74 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11400.94     | 0.00%             | 2031-10-01      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| Thrasio LLC                                           | Thrasio LLC 2024 2nd Out Take Back Term Loan                                     | CUSIP: 88552XAP9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1270027 | PA      | $955350.95    | 0.16%             | 2029-06-18      | Floating      | 12.14%                | No            |                  3 | On Loan: No      |
| INFORMATICA LLC                                       | Informatica LLC 2024 Term Loan B                                                 | CUSIP: 45673YAL0<br>LEI: 5493007SV33RZV7RPS40 | Long             | LON              | CORP              | US        |     59897 | PA      | $59972.13     | 0.01%             | 2028-10-27      | Floating      | 6.41%                 | No            |                  2 | On Loan: No      |
| ALDAR PROPERTIES PJSC                                 | Aldar Properties PJSC                                                            | CUSIP: 000000000<br>LEI: 98450048CD8AEF13B480 | Long             | DBT              | CORP              | AE        |    250000 | PA      | $261875.00    | 0.04%             | 2055-04-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| CITY FOOTBALL GROUP LIMITED                           | City Football Group Limited 2024 Term Loan                                       | CUSIP: 17781XAD8<br>LEI: 213800K6VVWALRH9UJ69 | Long             | LON              | CORP              | GB        |     60882 | PA      | $60831.60     | 0.01%             | 2030-07-22      | Floating      | 7.78%                 | No            |                  2 | On Loan: No      |
| ABG Intermediate Holdings 2 LLC                       | ABG Intermediate Holdings 2 LLC 2025 Delayed Draw Term Loan                      | CUSIP: 00076VBM1<br>LEI: 54930020NXD0RJB64985 | Long             | LON              | CORP              | US        |     29788 | PA      | $29725.70     | 0.01%             | 2032-02-13      | Floating      | 6.41%                 | No            |                  2 | On Loan: No      |
| MKS INC                                               | MKS Inc                                                                          | CUSIP: 55306NAB0<br>LEI: 549300KEQATBHAGVF505 | Long             | DBT              | CORP              | US        |     24000 | PA      | $26280.00     | 0.00%             | 2030-06-01      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| Heritage-Crystal Clean Inc                            | Heritage-Crystal Clean Inc Term Loan B                                           | CUSIP: 465966AB5<br>LEI: 254900KPFL42CYD2VY03 | Long             | LON              | CORP              | US        |     30509 | PA      | $30560.43     | 0.01%             | 2030-10-17      | Floating      | 7.89%                 | No            |                  2 | On Loan: No      |
| FLUTTER TREASURY DAC                                  | Flutter Treasury DAC                                                             | CUSIP: 000000000<br>LEI: 635400JE8VLL9UFVIC38 | Long             | DBT              | CORP              | IE        |    100000 | PA      | $135539.44    | 0.02%             | 2031-06-04      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| SIRVA BGRS HOLDINGS PREFERRED                         | SIRVA BGRS HOLDINGS PREFERRED                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |         8 | NS      | $1375.50      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| STONEBRIDGE COMPANIES LLC                             | Stonebridge Companies LLC Term Loan B                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3250163 | PA      | $3211161.16   | 0.55%             | 2031-05-16      | Floating      | 9.16%                 | No            |                  3 | On Loan: No      |
| TENNECO INC                                           | Tenneco Inc                                                                      | CUSIP: 880349AU9<br>LEI: 549300U0EXXFAQFAD785 | Long             | DBT              | CORP              | US        |     39000 | PA      | $39071.20     | 0.01%             | 2028-11-17      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Ballyrock Ltd                                         | Ballyrock CLO 22 Ltd                                                             | CUSIP: 05877GAG8<br>LEI: 254900XC0FEB91ZCO167 | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1510461.90   | 0.26%             | 2037-04-15      | Floating      | 6.67%                 | No            |                  2 | On Loan: No      |
| ODIDO HOLD BV                                         | Odido Holding BV                                                                 | CUSIP: 000000000<br>LEI: 7245000O9YOLPPM9YB33 | Long             | DBT              | CORP              | NL        |    173000 | PA      | $201353.14    | 0.03%             | 2029-01-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| MATIV HOLDINGS INC                                    | Mativ Holdings Inc                                                               | CUSIP: 808541AC0<br>LEI: 549300Z1FU4IDULG1R21 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11880.71     | 0.00%             | 2029-10-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| ECO SERVICES OPERATIONS CORP                          | ECO Services Operations Corp 2024 Term Loan B                                    | CUSIP: 27922JAC0<br>LEI: 254900NH3N3I82Z6Q744 | Long             | LON              | CORP              | US        |     60560 | PA      | $60465.23     | 0.01%             | 2031-06-12      | Floating      | 6.31%                 | No            |                  2 | On Loan: No      |
| ALSTRIA OFFICE AG                                     | Alstria Office AG                                                                | CUSIP: 000000000<br>LEI: 529900QIJIGPI0DRL085 | Long             | DBT              | CORP              | DE        |    200000 | PA      | $244160.27    | 0.04%             | 2031-03-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BPER BANCA                                            | BPER Banca SPA                                                                   | CUSIP: 000000000<br>LEI: N747OI7JINV7RUUH6190 | Long             | DBT              | CORP              | IT        |    200000 | PA      | $245694.05    | 0.04%             | 2030-03-20      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FREEPORT LNG INVESTMENTS LLLP                         | Freeport LNG Investments LLLP 2025 Term Loan B                                   | CUSIP: 35670CAC2<br>LEI: 549300LR5YVRZH4YPQ33 | Long             | LON              | CORP              | US        |    103493 | PA      | $103400.80    | 0.02%             | 2028-12-21      | Floating      | 7.58%                 | No            |                  2 | On Loan: No      |
| MOTIVE TECHNOLOGIES                                   | MOTIVE TECHNOLOGIES                                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     75000 | NS      | $70500.00     | 0.01%             |  |  |  | No            |                  3 | On Loan: No      |
| UNITI GROUP INC                                       | Uniti Group Inc                                                                  | CUSIP: 91325VAB4<br>LEI: 549300V3NU625PJUVA84 | Long             | DBT              | CORP              | US        |    800000 | PA      | $862345.04    | 0.15%             | 2027-12-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Six Flags Entertainment Corporation                   | Six Flags Entertainment Corporation 2024 Term Loan B                             | CUSIP: 15018LAN1<br>LEI: 529900AS2CYWYFHRS781 | Long             | LON              | CORP              | US        |     16738 | PA      | $16616.28     | 0.00%             | 2031-05-01      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| TIDEWATER INC                                         | Tidewater Inc                                                                    | CUSIP: 88642RAE9<br>LEI: 2549000JA5GRUPLMUH98 | Long             | DBT              | CORP              | US        |     16000 | PA      | $17159.20     | 0.00%             | 2030-07-15      | Fixed         | 9.13%                 | No            |                  2 | On Loan: No      |
| GFL ENVIRONMENTAL INC                                 | GFL Environmental Inc 2025 Term Loan B                                           | CUSIP: 36257SAB8<br>LEI: 254900PGDQWC19PRP053 | Long             | LON              | CORP              | US        |    120000 | PA      | $119842.80    | 0.02%             | 2032-03-03      | Floating      | 6.67%                 | No            |                  2 | On Loan: No      |
| Madison Logic Holdings Inc                            | Madison Logic Holdings Inc Term Loan                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     88485 | PA      | $82999.31     | 0.01%             | 2028-12-30      | Floating      | 11.66%                | No            |                  3 | On Loan: No      |
| TL ALPINE HOLDING CORP                                | TL Alpine Holding Corp Term Loan                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3970761 | PA      | $3994585.46   | 0.68%             | 2030-08-01      | Floating      | 10.00%                | No            |                  3 | On Loan: No      |
| PINNACLE BIDCO PLC                                    | Pinnacle Bidco PLC                                                               | CUSIP: 000000000<br>LEI: 2138006Z5V8OBL2A2Q06 | Long             | DBT              | CORP              | GB        |    312000 | PA      | $442697.98    | 0.08%             | 2028-10-11      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| JOB AND TALENT HOLDING LTD                            | JOB AND TALENT HOLDING LTD                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1130 | NS      | $56692.85     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| MSM Acquisitions Inc                                  | MSM Acquisitions Inc Delayed Draw Term Loan                                      | CUSIP: 83089HAC6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    359665 | PA      | $319742.20    | 0.05%             | 2026-12-09      | Floating      | 10.20%                | No            |                  3 | On Loan: No      |
| SHIFT4 PAYMENTS LLC                                   | Shift4 Payments LLC 2025 Term Loan                                               | CUSIP: 000000000<br>LEI: 254900GTEMR7L40VPI74 | Long             | LON              | CORP              | US        |     36000 | PA      | $36254.88     | 0.01%             | 2032-06-30      | Floating      | 6.50%                 | No            |                  2 | On Loan: No      |
| Truist Insurance Holdings LLC                         | Truist Insurance Holdings LLC 2nd Lien Term Loan                                 | CUSIP: 89788VAE2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     33684 | PA      | $34263.24     | 0.01%             | 2032-05-06      | Floating      | 8.75%                 | No            |                  2 | On Loan: No      |
| WEATHERFORD INTERNATIONA                              | Weatherford International Ltd                                                    | CUSIP: 947075AW7<br>LEI: 549300A2JKMG5PGOGF82 | Long             | DBT              | CORP              | BM        |     38000 | PA      | $38026.43     | 0.01%             | 2033-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| VISTRA CORP                                           | Vistra Corp                                                                      | CUSIP: 92840MAC6<br>LEI: 549300KP43CPCUJOOG15 | Long             | DBT              | CORP              | US        |     67000 | PA      | $68023.09     | 0.01%             | 2026-12-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                                | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCP6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      2000 | PA      | $1729.13      | 0.00%             | 2034-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| EDGE FINCO PLC                                        | Edge Finco PLC                                                                   | CUSIP: 000000000<br>LEI: 648835NI8LJE5190NT73 | Long             | DBT              | CORP              | GB        |    283000 | PA      | $405822.07    | 0.07%             | 2031-08-15      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| 1011778 BC Unlimited Liability Company                | 1011778 BC Unlimited Liability Company 2024 Term Loan B6                         | CUSIP: 000000000<br>LEI: 549300RHSHNRWI5LLA86 | Long             | LON              | CORP              | CA        |    104209 | PA      | $103773.99    | 0.02%             | 2030-09-20      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| Options Clearing Corp.                                | ISHARES MSCI EMERGING MARKETS                                                    | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      1904 | NC      | $88536.00     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| TMK HAWK MIDCO CORP 1                                 | TMK HAWK MIDCO CORP 1                                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       543 | NS      | $5973.22      | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| COUGAR JV SUBSIDIARY LLC                              | Cougar JV Subsidiary LLC                                                         | CUSIP: 22208WAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     14000 | PA      | $14884.77     | 0.00%             | 2032-05-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| CHORD ENERGY CORP                                     | Chord Energy Corp                                                                | CUSIP: 674215AN8<br>LEI: 529900FA4V2YNIKZ0M71 | Long             | DBT              | CORP              | US        |      5000 | PA      | $5065.94      | 0.00%             | 2033-03-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| IT Parent LLC                                         | IT Parent LLC Term Loan                                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2391086 | PA      | $2403041.12   | 0.41%             | 2026-10-01      | Floating      | 9.80%                 | No            |                  3 | On Loan: No      |
| LINDBLAD EXPEDITIONS LLC                              | Lindblad Expeditions LLC                                                         | CUSIP: 53523LAB6<br>LEI: 549300MPUWOG67Y2R254 | Long             | DBT              | CORP              | US        |     24000 | PA      | $24462.96     | 0.00%             | 2030-09-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| RADIATE HOLDCO LLC                                    | Radiate Holdco LLC 2025 FLFO Term Loan                                           | CUSIP: 75025KAM0<br>LEI: 5493000GQJ5RDX9DNJ71 | Long             | LON              | CORP              | US        |    187289 | PA      | $150825.70    | 0.03%             | 2029-09-25      | Floating      | 7.78%                 | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                      | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DFE              |  | US        |         1 | NC      | $16.22        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| PCPD CAPITAL                                          | PCPD Capital Ltd                                                                 | CUSIP: 000000000<br>LEI: 8945006ZVZH8L5TKDT89 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $194376.00    | 0.03%             | 2026-06-18      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| BOOST NEWCO BORROWER LLC                              | Boost Newco Borrower LLC 2025 USD Term Loan B2                                   | CUSIP: 92943EAG1<br>LEI: 254900S8RE1OL7TTCU64 | Long             | LON              | CORP              | US        |    205475 | PA      | $205561.26    | 0.03%             | 2031-01-31      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| Mauser Packaging Solutions Holding Company            | Mauser Packaging Solutions Holding Company 2024 Term Loan B                      | CUSIP: 57763TAE3<br>LEI: 549300DNGHXL0OMHW304 | Long             | LON              | CORP              | US        |     44765 | PA      | $44747.12     | 0.01%             | 2027-04-15      | Floating      | 7.28%                 | No            |                  2 | On Loan: No      |
| Galaxy US Opco Inc                                    | Galaxy US Opco Inc Term Loan                                                     | CUSIP: 36321DAB3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     29699 | PA      | $26895.89     | 0.00%             | 2030-07-31      | Floating      | 6.31%                 | No            |                  2 | On Loan: No      |
| ICAHN ENTERPRISES/FIN                                 | Icahn Enterprises LP / Icahn Enterprises Finance Corp                            | CUSIP: 451102CF2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     14000 | PA      | $14129.50     | 0.00%             | 2029-01-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                         | Citigroup Inc                                                                    | CUSIP: 172967PM7<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     15000 | PA      | $15932.25     | 0.00%             | 2034-08-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Potters Industries, LLC                               | Potters Industries LLC 2025 Repriced Term Loan B                                 | CUSIP: 73813HAF3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     22713 | PA      | $22765.37     | 0.00%             | 2027-12-14      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| PG Investment Company 59 Sa rl                        | PG Investment Company 59 Sa rl Term Loan B                                       | CUSIP: 91728NAB5<br>LEI: 254900XMCCB3IEZ2A005 | Long             | LON              | CORP              | LU        |     33830 | PA      | $33897.66     | 0.01%             | 2031-03-26      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| OLYMPUS WTR US HLDG CORP                              | Olympus Water US Holding Corp                                                    | CUSIP: 000000000<br>LEI: 549300YU2GGVCBN3MY89 | Long             | DBT              | CORP              | US        |    100000 | PA      | $111348.73    | 0.02%             | 2029-10-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Battalion CLO LTD                                     | Battalion CLO X Ltd                                                              | CUSIP: 07132JBG8<br>LEI: 549300RRK5G3IT4Y7N27 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1001506.20   | 0.17%             | 2035-01-25      | Floating      | 6.63%                 | No            |                  2 | On Loan: No      |
| New Immo Holding SA                                   | New Immo Holding SA                                                              | CUSIP: 000000000<br>LEI: 5493007LOTJ0I8E94R81 | Long             | DBT              | CORP              | FR        |    100000 | PA      | $116037.53    | 0.02%             | 2026-11-26      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Pico Quantitative Trading Holdings, LLC               | Pico Quantitative Trading Holdings LLC 2024 10th Amendment Term Loan             | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3343507 | PA      | $3343507.44   | 0.57%             | 2027-02-08      | Floating      | 11.71%                | No            |                  3 | On Loan: No      |
| PointClickCare Technologies, Inc.                     | PointClickCare Technologies Inc 2025 Term Loan B                                 | CUSIP: 000000000<br>LEI: 5493001Z0LHHBZLVDX36 | Long             | LON              | CORP              | CA        |     46588 | PA      | $46613.66     | 0.01%             | 2031-11-03      | Floating      | 6.75%                 | No            |                  2 | On Loan: No      |
| Genesee & Wyoming Inc (New)                           | Genesee & Wyoming Inc (New) 2024 Term Loan                                       | CUSIP: 37156QAZ9<br>LEI: G617XSG94Z7G0RMW3L02 | Long             | LON              | CORP              | US        |    214875 | PA      | $213955.01    | 0.04%             | 2031-04-10      | Floating      | 5.75%                 | No            |                  2 | On Loan: No      |
| VOYAGER PARENT LLC                                    | Voyager Parent LLC                                                               | CUSIP: 92921EAA0<br>LEI: 2549002DYVI4ACSV4V71 | Long             | DBT              | CORP              | US        |     18000 | PA      | $19034.82     | 0.00%             | 2032-07-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| SUMMER BC HOLDCO B SARL                               | Summer BC Holdco B SARL                                                          | CUSIP: 000000000<br>LEI: 984500NRF59D5DB9B654 | Long             | DBT              | CORP              | LU        |    100000 | PA      | $114671.15    | 0.02%             | 2030-02-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Sparta US HoldCo LLC                                  | Sparta US HoldCo LLC 2024 Term Loan B                                            | CUSIP: 84673EAE9<br>LEI: 5493004EFF9NBQ1A8453 | Long             | LON              | CORP              | US        |     95575 | PA      | $94209.11     | 0.02%             | 2030-08-02      | Floating      | 7.28%                 | No            |                  2 | On Loan: No      |
| GOLDSTORY SASU                                        | Goldstory SAS                                                                    | CUSIP: 000000000<br>LEI: 969500NWR67ONUJD4A26 | Long             | DBT              | CORP              | FR        |    100000 | PA      | $121907.84    | 0.02%             | 2030-02-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| The Action Environmental Group Inc                    | The Action Environmental Group Inc 2023 Term Loan B                              | CUSIP: 00507JAF3<br>LEI: 549300BB30QUQC86W666 | Long             | LON              | CORP              | US        |     39037 | PA      | $38988.53     | 0.01%             | 2030-10-24      | Floating      | 7.25%                 | No            |                  3 | On Loan: No      |
| EDISON INTERNATIONAL                                  | Edison International                                                             | CUSIP: 281020AS6<br>LEI: 549300I7ROF15MAEVP56 | Long             | DBT              | CORP              | US        |     17000 | PA      | $16504.79     | 0.00%             | 2026-03-09      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| NATIONSTAR MTG HLD INC                                | Nationstar Mortgage Holdings Inc                                                 | CUSIP: 63861CAF6<br>LEI: 549300DQF6YN0E43PM71 | Long             | DBT              | CORP              | US        |     42000 | PA      | $43839.73     | 0.01%             | 2032-02-01      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| IVYREHAB INTERMEDIATE II LLC                          | IvyRehab Intermediate II LLC 2024 2nd Amendment Tranche A Delayed Draw Term Loan | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     99692 | PA      | $99077.42     | 0.02%             | 2029-04-23      | Floating      | 9.68%                 | No            |                  3 | On Loan: No      |
| LEGENCE HOLDINGS LLC                                  | Legence Holdings LLC 2025 Term Loan B                                            | CUSIP: 75865HAK4<br>LEI: 2549003DYOLJRQR9G070 | Long             | LON              | CORP              | US        |      9877 | PA      | $9887.18      | 0.00%             | 2028-12-18      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| McAfee, LLC                                           | McAfee LLC 2024 USD 1st Lien Term Loan B                                         | CUSIP: 57906HAF4<br>LEI: 2549009UKR8UEZYVCR93 | Long             | LON              | CORP              | US        |     91618 | PA      | $87352.16     | 0.01%             | 2029-03-01      | Floating      | 7.22%                 | No            |                  2 | On Loan: No      |
| FREEDOM MORTGAGE HOLD                                 | Freedom Mortgage Holdings LLC                                                    | CUSIP: 35641AAB4<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |     20000 | PA      | $21271.04     | 0.00%             | 2031-05-15      | Fixed         | 9.13%                 | No            |                  2 | On Loan: No      |
| Oak Purchaser Inc                                     | Oak Purchaser Inc 2024 Term Loan                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    261926 | PA      | $261925.93    | 0.04%             | 2028-05-31      | Floating      | 9.37%                 | No            |                  3 | On Loan: No      |
| Gogo Intermediate Holdings LLC                        | GOGO Intermediate Holdings LLC Term Loan B                                       | CUSIP: 38046JAB0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     43977 | PA      | $43605.75     | 0.01%             | 2028-04-30      | Floating      | 8.03%                 | No            |                  2 | On Loan: No      |
| SBA Senior Finance II LLC                             | SBA Senior Finance II LLC 2024 Term Loan B                                       | CUSIP: 78404XAJ4<br>LEI: 549300PVT2ADFWMYEW87 | Long             | LON              | CORP              | US        |     92124 | PA      | $92396.09     | 0.02%             | 2031-01-25      | Floating      | 5.92%                 | No            |                  2 | On Loan: No      |
| AVALARA INC                                           | AVALARA INC 2025 TERM LOAN                                                       | CUSIP: 05338KAD9<br>LEI: 549300Q16CMW239SS315 | Long             | LON              | CORP              | US        |      6000 | PA      | $5998.32      | 0.00%             | 2032-03-26      | Floating      | 6.88%                 | No            |                  2 | On Loan: No      |
| CLARIANE SE                                           | Clariane SE                                                                      | CUSIP: 000000000<br>LEI: 969500WEPS61H6TJM037 | Long             | DBT              | CORP              | FR        |    100000 | PA      | $120625.28    | 0.02%             | 2030-06-27      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| FWD GROUP HOLDINGS LTD                                | FWD Group Holdings Ltd                                                           | CUSIP: 000000000<br>LEI: 254900HEGGDS8WU5QZ97 | Long             | DBT              | CORP              | KY        |    475000 | PA      | $475985.63    | 0.08%             | 2030-09-22      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ACCORDION PARTNERS LLC                                | Accordion Partners LLC 2024 Term Loan                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    153722 | PA      | $153721.62    | 0.03%             | 2031-11-17      | Floating      | 9.00%                 | No            |                  3 | On Loan: No      |
| CUSHMAN & WAKEFIELD US                                | Cushman & Wakefield US Borrower LLC                                              | CUSIP: 23166MAC7<br>LEI: 549300870CMN3WI5IF97 | Long             | DBT              | CORP              | US        |     20000 | PA      | $21346.44     | 0.00%             | 2031-09-01      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| TRIDENT TPI HOLDINGS INC                              | Trident TPI Holdings Inc 2024 Term Loan B7                                       | CUSIP: 00216EAL3<br>LEI: 549300TPLK304J3RNC85 | Long             | LON              | CORP              | US        |     51262 | PA      | $50279.63     | 0.01%             | 2028-09-15      | Floating      | 7.75%                 | No            |                  2 | On Loan: No      |
| ARSENAL AIC PARENT LLC                                | Arsenal AIC Parent LLC                                                           | CUSIP: 04288BAC4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    125000 | PA      | $138828.38    | 0.02%             | 2031-10-01      | Fixed         | 11.50%                | No            |                  2 | On Loan: No      |
| VIVION INVESTMENTS                                    | Vivion Investments Sarl                                                          | CUSIP: 000000000<br>LEI: 529900SJ7X71ESJK9N76 | Long             | DBT              | CORP              | LU        |    148198 | PA      | $173574.41    | 0.03%             | 2028-08-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                  | Bank of America Corp                                                             | CUSIP: 06055HAH6<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     90000 | PA      | $93644.01     | 0.02%             | 2030-05-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| GYMPASS                                               | Gympass 2024 2nd Amendment Delayed Draw Term Loan                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4863490 | PA      | $4912124.90   | 0.84%             | 2029-08-29      | Floating      | 7.53%                 | No            |                  3 | On Loan: No      |
| EG AMERICA LLC                                        | EG America LLC 2025 USD Repriced Term Loan                                       | CUSIP: 000000000<br>LEI: 549300BY1CRYVPEG9R57 | Long             | LON              | CORP              | US        |     16830 | PA      | $16908.41     | 0.00%             | 2028-02-07      | Floating      | 7.70%                 | No            |                  2 | On Loan: No      |
| FORTIS 333 INC                                        | Fortis 333 Inc USD Term Loan B                                                   | CUSIP: 34958SAB5<br>LEI: 254900SLITS19RU1VB55 | Long             | LON              | CORP              | US        |     27930 | PA      | $27743.71     | 0.00%             | 2032-03-29      | Floating      | 7.50%                 | No            |                  2 | On Loan: No      |
| Silver Point CLO, Ltd                                 | Silver Point Clo 5 Ltd                                                           | CUSIP: 82809BAG1<br>LEI: 254900IB4JHW6SUR0Q75 | Long             | ABS-CBDO         | CORP              | KY        |   1250000 | PA      | $1256462.13   | 0.21%             | 2037-10-20      | Floating      | 6.43%                 | No            |                  2 | On Loan: No      |
| ACRISURE LLC / FIN INC                                | Acrisure LLC / Acrisure Finance Inc                                              | CUSIP: 004961AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      8000 | PA      | $8237.47      | 0.00%             | 2032-07-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Anika Therapeutics Inc                                | Anika Therapeutics Inc                                                           | CUSIP: 035255108<br>LEI: 529900R9LS3Z0O6QH455 | Long             | EC               | CORP              | US        |    132111 | NS      | $1241843.40   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| GRAY MEDIA INC                                        | Gray Media Inc                                                                   | CUSIP: 389375AM8<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |     35000 | PA      | $37843.79     | 0.01%             | 2029-07-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| BEACH ACQUISITION BIDCO                               | Beach Acquisition Bidco LLC                                                      | CUSIP: 000000000<br>LEI: 254900F2FNX3GBTB6202 | Long             | DBT              | CORP              | US        |    100000 | PA      | $120349.96    | 0.02%             | 2032-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Heathrow Finance PLC                                  | Heathrow Finance PLC                                                             | CUSIP: 000000000<br>LEI: 549300F740QSGMPHQJ60 | Long             | DBT              | CORP              | GB        |    126000 | PA      | $165680.03    | 0.03%             | 2027-03-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Emerald Technologies (US) Acquisitionco Inc           | Emerald Technologies (US) Acquisitionco Inc Term Loan                            | CUSIP: 29102UAB5<br>LEI: 549300PVODJ41V7YM574 | Long             | LON              | CORP              | US        |   1352080 | PA      | $932935.18    | 0.16%             | 2027-12-29      | Floating      | 10.60%                | No            |                  3 | On Loan: No      |
| ATLAS CC ACQUISITION CORP                             | Atlas CC Acquisition Corp 2025 Second Out Term Loan C                            | CUSIP: 04921TAS3<br>LEI: 6HHLXIOGCDNZ4IRAIW26 | Long             | LON              | CORP              | US        |     23952 | PA      | $13645.47     | 0.00%             | 2029-05-25      | Floating      | 8.57%                 | No            |                  2 | On Loan: No      |
| GOAT HOLDCO LLC                                       | Goat Holdco LLC                                                                  | CUSIP: 38021MAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     23000 | PA      | $23574.99     | 0.00%             | 2032-02-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| KEEP TRUCKIN INC                                      | Keep Truckin Inc 2024 Term Loan                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    500000 | PA      | $504000.00    | 0.09%             | 2027-04-08      | Floating      | 11.53%                | No            |                  3 | On Loan: No      |
| HOWARD MIDSTREAM ENERGY                               | Howard Midstream Energy Partners LLC                                             | CUSIP: 442722AC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     19000 | PA      | $19722.48     | 0.00%             | 2032-07-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Dynasty Acquisition Co Inc                            | Dynasty Acquisition Co Inc 2024 1st Lien Term Loan B1                            | CUSIP: 26812CAN6<br>LEI: 549300L1RCRPOAUCB870 | Long             | LON              | CORP              | US        |    113767 | PA      | $113761.53    | 0.02%             | 2031-10-31      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| KAIXO BONDCO TELECOM SA                               | Kaixo Bondco Telecom SA                                                          | CUSIP: 000000000<br>LEI: 959800ULWB3MZHZ69055 | Long             | DBT              | CORP              | ES        |    150000 | PA      | $178253.69    | 0.03%             | 2029-09-30      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| ROCKET COS INC                                        | Rocket Cos Inc                                                                   | CUSIP: 77311WAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     76000 | PA      | $78000.32     | 0.01%             | 2030-08-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| TALLGRASS NRG PRTNR/FIN                               | Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp                     | CUSIP: 87470LAL5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     41000 | PA      | $42223.56     | 0.01%             | 2029-02-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| AAL Delaware Holdco Inc                               | AAL Delaware Holdco Inc 2025 Term Loan                                           | CUSIP: 00036YAD5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     19950 | PA      | $19964.71     | 0.00%             | 2031-07-30      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| AIMBRIDGE ACQUISITION CO INC                          | Aimbridge Acquisition Co Inc 2025 1st Lien Second Out Term Loan                  | CUSIP: 00900YAH9<br>LEI: 549300SPGKLVE9WYCQ20 | Long             | LON              | CORP              | US        |      9915 | PA      | $9878.30      | 0.00%             | 2030-03-11      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| MOHEGAN TRIBAL / MS DIG                               | Mohegan Tribal Gaming Authority / MS Digital Entertainment Holdings LLC          | CUSIP: 60832QAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     15000 | PA      | $15585.60     | 0.00%             | 2030-04-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| MH Sub I LLC                                          | MH Sub I LLC 2023 Term Loan                                                      | CUSIP: 45567YAN5<br>LEI: 2549005VFKP807SR8N49 | Long             | LON              | CORP              | US        |     30971 | PA      | $29745.14     | 0.01%             | 2028-05-03      | Floating      | 8.25%                 | No            |                  2 | On Loan: No      |
| BANCA MONTE DEI PASCHI S                              | Banca Monte dei Paschi di Siena SpA                                              | CUSIP: 000000000<br>LEI: J4CP7MHCXR8DAQMKIL78 | Long             | DBT              | CORP              | IT        |    200000 | PA      | $239459.37    | 0.04%             | 2035-10-02      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Sabre GLBL Inc                                        | Sabre GLBL Inc 2022 1st Lien Term Loan B                                         | CUSIP: 78571YBJ8<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | LON              | CORP              | US        |      1293 | PA      | $1209.06      | 0.00%             | 2028-06-30      | Floating      | 9.26%                 | No            |                  2 | On Loan: No      |
| ONEDIGITAL BORROWER LLC                               | OneDigital Borrower LLC 2025 Repriced Term Loan                                  | CUSIP: 68277FAN9<br>LEI: 2549009GTKWWAO1E9X77 | Long             | LON              | CORP              | US        |     13000 | PA      | $12984.01     | 0.00%             | 2031-07-02      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| DOLCETTO HOLDCO SPA                                   | Dolcetto Holdco SpA                                                              | CUSIP: 000000000<br>LEI: 81560029E819F2CE4A42 | Long             | DBT              | CORP              | IT        |    102000 | PA      | $122776.77    | 0.02%             | 2032-07-14      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| WALKER & DUNLOP INC                                   | Walker & Dunlop Inc                                                              | CUSIP: 93148PAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     11000 | PA      | $11249.11     | 0.00%             | 2033-04-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| American Airlines Inc                                 | American Airlines Inc 2017 1st Lien Term Loan                                    | CUSIP: 02376CAX3<br>LEI: IWUQB36BXD6OWD6X4T14 | Long             | LON              | CORP              | US        |     36348 | PA      | $36227.17     | 0.01%             | 2027-01-29      | Floating      | 5.98%                 | No            |                  2 | On Loan: No      |
| GREY ORANGE WARRANTS                                  | GREY ORANGE WARRANTS                                                             | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               |  | US        |       460 | NS      | $92.00        | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Sabre GLBL Inc                                        | Sabre GLBL Inc 2021 Term Loan B1                                                 | CUSIP: 78571YBG4<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | LON              | CORP              | US        |     10123 | PA      | $9566.02      | 0.00%             | 2027-12-17      | Floating      | 7.78%                 | No            |                  2 | On Loan: No      |
| MONGOLIA INTL BOND                                    | Mongolia Government International Bond                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | MN        |    200000 | PA      | $192300.00    | 0.03%             | 2027-07-07      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Rand Parent, LLC                                      | Rand Parent LLC 2025 Term Loan B                                                 | CUSIP: 75223LAD8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     61522 | PA      | $61203.68     | 0.01%             | 2030-03-18      | Floating      | 7.00%                 | No            |                  2 | On Loan: No      |
| LJ Avalon Holdings LLC                                | LJ Avalon Holdings LLC Term Loan                                                 | CUSIP: 000000000<br>LEI: 254900GH43JWLMR1ZG27 | Long             | LON              | CORP              | US        |    279667 | PA      | $279667.23    | 0.05%             | 2030-02-01      | Floating      | 8.77%                 | No            |                  3 | On Loan: No      |
| FSK Pallet Holding Corp                               | FSK Pallet Holding Corp Term Loan                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     93212 | PA      | $93128.54     | 0.02%             | 2026-12-23      | Floating      | 10.98%                | No            |                  3 | On Loan: No      |
| WESCO DISTRIBUTION INC                                | WESCO Distribution Inc                                                           | CUSIP: 95081QAS3<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |      8000 | PA      | $8293.03      | 0.00%             | 2033-03-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Carval CLO LTD                                        | CarVal CLO IV Ltd                                                                | CUSIP: 14687EAJ9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1003283.40   | 0.17%             | 2034-07-20      | Floating      | 7.84%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                         | Citigroup Inc                                                                    | CUSIP: 172967PK1<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     60000 | PA      | $61987.38     | 0.01%             | 2029-08-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| VITAL ENERGY INC                                      | Vital Energy Inc                                                                 | CUSIP: 516806AJ5<br>LEI: 549300X0PTWU2QSLSL14 | Long             | DBT              | CORP              | US        |     37000 | PA      | $38630.15     | 0.01%             | 2030-10-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| Baldwin Insurance Group Holdings LLC                  | Baldwin Insurance Group Holdings LLC 2025 Term Loan B2                           | CUSIP: 05825HAH7<br>LEI: 5493004GCDREAQPPYG20 | Long             | LON              | CORP              | US        |     48355 | PA      | $48315.02     | 0.01%             | 2031-05-26      | Floating      | 6.64%                 | No            |                  2 | On Loan: No      |
| PANTHER ESCROW ISSUER                                 | Panther Escrow Issuer LLC                                                        | CUSIP: 69867RAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    193000 | PA      | $200742.77    | 0.03%             | 2031-06-01      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| Acquia Inc                                            | Acquia Inc Term Loan                                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    480902 | PA      | $480901.66    | 0.08%             | 2026-10-30      | Floating      | 10.43%                | No            |                  3 | On Loan: No      |
| Zelis Payments Buyer Inc                              | Zelis Payments Buyer Inc Term Loan B                                             | CUSIP: 98932TAG8<br>LEI: 549300U8NGLZN5R1Y309 | Long             | LON              | CORP              | US        |     60000 | PA      | $59824.80     | 0.01%             | 2029-09-28      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| ALIXPARTNERS LLP                                      | AlixPartners LLP 2025 USD Term Loan                                              | CUSIP: 01642PBE5<br>LEI: 5493005G2MHUFTGARL57 | Long             | LON              | CORP              | US        |    127068 | PA      | $126150.30    | 0.02%             | 2032-08-12      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| VIRGIN MEDIA SECURED FIN                              | Virgin Media Secured Finance PLC                                                 | CUSIP: 000000000<br>LEI: 213800X3RLP4NOTPY579 | Long             | DBT              | CORP              | GB        |    500000 | PA      | $656327.04    | 0.11%             | 2029-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| UNITED NATURAL FOODS INC                              | United Natural Foods Inc                                                         | CUSIP: 911163AA1<br>LEI: 549300GKGW6WPZ282D40 | Long             | DBT              | CORP              | US        |     18000 | PA      | $17998.57     | 0.00%             | 2028-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| LION/POLARIS LUX 4 SA                                 | Lion/Polaris Lux 4 SA                                                            | CUSIP: 000000000<br>LEI: 984500BFD3F99A7UB874 | Long             | DBT              | CORP              | LU        |    200000 | PA      | $237423.63    | 0.04%             | 2029-07-01      | Floating      | 5.56%                 | No            |                  2 | On Loan: No      |
| WH Borrower LLC                                       | WH Borrower LLC 2025 Term Loan B                                                 | CUSIP: 92942LAG6<br>LEI: 2549009H920CQUE3R944 | Long             | LON              | CORP              | US        |   5000000 | PA      | $4999200.00   | 0.85%             | 2032-02-20      | Floating      | 8.95%                 | No            |                  2 | On Loan: No      |
| CNX RESOURCES CORP                                    | CNX Resources Corp                                                               | CUSIP: 12653CAL2<br>LEI: 549300JK3KH8PWM3B226 | Long             | DBT              | CORP              | US        |      9000 | PA      | $9336.84      | 0.00%             | 2032-03-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE SA                                      | Altice France SA                                                                 | CUSIP: 000000000<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |    326000 | PA      | $329156.84    | 0.06%             | 2028-01-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| ABANCA CORP BANCARIA SA                               | Abanca Corp Bancaria SA                                                          | CUSIP: 000000000<br>LEI: 54930056IRBXK0Q1FP96 | Long             | DBT              | CORP              | ES        |    100000 | PA      | $120900.33    | 0.02%             | 2036-12-11      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| NORTHERN OIL & GAS INC                                | Northern Oil & Gas Inc                                                           | CUSIP: 665531AG4<br>LEI: OKFF0PIZDDMNH4UCYE51 | Long             | DBT              | CORP              | US        |    116000 | PA      | $117637.80    | 0.02%             | 2028-03-01      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| HOMERENEW BUYER INC                                   | HomeRenew Buyer Inc 2025 Term Loan                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    757639 | PA      | $757639.36    | 0.13%             | 2030-04-14      | Floating      | 10.88%                | No            |                  3 | On Loan: No      |
| Parexel International Corporation                     | Parexel International Corporation 2025 Term Loan B                               | CUSIP: 71911KAE4<br>LEI: 254900PHGVI5379Z9791 | Long             | LON              | CORP              | US        |    119859 | PA      | $119920.89    | 0.02%             | 2028-11-15      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| JAZZ FINANCING LUX SARL                               | Jazz Financing Lux Sarl 2024 1st Lien Term Loan B2                               | CUSIP: 000000000<br>LEI: 635400WUEO2NSG5OIU34 | Long             | LON              | CORP              | LU        |     98858 | PA      | $98905.46     | 0.02%             | 2028-05-05      | Floating      | 6.41%                 | No            |                  2 | On Loan: No      |
| Intercontinental Exchange, Inc.                       | SWAP/CDSWAP/ICE: (CDX.NA.HY.44.V1)                                               | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              |  | US        |   8250000 | OU      | $670171.56    | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| CLEAN HARBORS INC                                     | CLEAN HARBORS INC 2025 TERM LOAN                                                 | CUSIP: 18449EAJ9<br>LEI: 5493000SJVZVZJKHJF48 | Long             | LON              | CORP              | US        |     37000 | PA      | $37046.25     | 0.01%             | 2032-09-24      | Floating      | 5.64%                 | No            |                  2 | On Loan: No      |
| Charter Communications Operating, LLC                 | Charter Communications Operating LLC 2024 Term Loan B5                           | CUSIP: 16117LCE7<br>LEI: 549300TPZNMN50BJ3745 | Long             | LON              | CORP              | US        |     42796 | PA      | $42774.74     | 0.01%             | 2031-12-15      | Floating      | 6.54%                 | No            |                  2 | On Loan: No      |
| ICAHN ENTERPRISES/FIN                                 | Icahn Enterprises LP / Icahn Enterprises Finance Corp                            | CUSIP: 451102CC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      3000 | PA      | $2589.63      | 0.00%             | 2029-02-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| OUTFRONT MEDIA CAP LLC/C                              | Outfront Media Capital LLC / Outfront Media Capital Corp                         | CUSIP: 69007TAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      4000 | PA      | $3979.90      | 0.00%             | 2027-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OPENMARKET INC                                        | OpenMarket Inc 2025 Refinancing Term Loan                                        | CUSIP: 45676QAB6<br>LEI: 254900XMJZPK4MZYYM65 | Long             | LON              | CORP              | US        |   4900330 | PA      | $4849644.73   | 0.82%             | 2029-06-11      | Floating      | 9.75%                 | No            |                  3 | On Loan: No      |
| AMERICAN AIRLINES INC                                 | American Airlines Inc 2024 1st Lien Term Loan B                                  | CUSIP: 02376CBR5<br>LEI: IWUQB36BXD6OWD6X4T14 | Long             | LON              | CORP              | US        |     57612 | PA      | $57515.91     | 0.01%             | 2028-02-15      | Floating      | 6.50%                 | No            |                  2 | On Loan: No      |
| VIKING CRUISES LTD                                    | Viking Cruises Ltd                                                               | CUSIP: 92676XAG2<br>LEI: 549300IJP90T4MV2GL84 | Long             | DBT              | CORP              | BM        |     81000 | PA      | $86938.92     | 0.01%             | 2031-07-15      | Fixed         | 9.13%                 | No            |                  2 | On Loan: No      |
| Whitebox CLO Ltd                                      | Whitebox Clo II Ltd                                                              | CUSIP: 96466CBC1<br>LEI: 549300C89ZJ5IWOT1F21 | Long             | ABS-CBDO         | CORP              | KY        |    640000 | PA      | $642364.29    | 0.11%             | 2037-10-24      | Floating      | 6.27%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                                 | Level 3 Financing Inc                                                            | CUSIP: 527298CM3<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    144833 | PA      | $147610.90    | 0.03%             | 2033-06-30      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| ACP TARA HOLDINGS INC                                 | ACP TARA HOLDINGS INC 2025 TERM LOAN B                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     13000 | PA      | $13000.00     | 0.00%             | 2032-09-17      | Floating      | 7.38%                 | No            |                  3 | On Loan: No      |
| ALLIED UNIVERSAL                                      | Allied Universal Holdco LLC / Allied Universal Finance Corp                      | CUSIP: 019576AC1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $196610.78    | 0.03%             | 2029-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NABORS INDUSTRIES INC                                 | Nabors Industries Inc                                                            | CUSIP: 62957HAJ4<br>LEI: 549300VFQWRKICUFNU92 | Long             | DBT              | CORP              | US        |     54000 | PA      | $54815.83     | 0.01%             | 2027-05-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| PLURALSIGHT INC                                       | Pluralsight Inc 2024 Second Priority Term Loan B                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    708343 | PA      | $645504.58    | 0.11%             | 2029-08-22      | Floating      | 11.70%                | No            |                  3 | On Loan: No      |
| ENGINEERING SPA                                       | Engineering - Ingegneria Informatica - SpA                                       | CUSIP: 000000000<br>LEI: 81560042F5E23EE61346 | Long             | DBT              | CORP              | IT        |    116000 | PA      | $145127.34    | 0.02%             | 2028-05-15      | Fixed         | 11.13%                | No            |                  2 | On Loan: No      |
| QUIKRETE HOLDINGS INC                                 | Quikrete Holdings Inc                                                            | CUSIP: 74843PAA8<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |     89000 | PA      | $92190.12     | 0.02%             | 2032-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Fertitta Entertainment LLC                            | Fertitta Entertainment LLC 2022 Term Loan B                                      | CUSIP: 31556PAB3<br>LEI: 984500A0805D8V551D35 | Long             | LON              | CORP              | US        |    231315 | PA      | $230908.05    | 0.04%             | 2029-01-27      | Floating      | 7.41%                 | No            |                  2 | On Loan: No      |
| WASTE PRO USA INC                                     | Waste Pro USA Inc                                                                | CUSIP: 94107JAC7<br>LEI: 549300BY1QXU5BI3UF28 | Long             | DBT              | CORP              | US        |     70000 | PA      | $72505.79     | 0.01%             | 2033-02-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                                 | Venture Global Plaquemines LNG LLC                                               | CUSIP: 922966AB2<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |     25000 | PA      | $28217.71     | 0.00%             | 2035-05-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                  | Bank of America Corp                                                             | CUSIP: 06055HAK9<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     40000 | PA      | $40511.06     | 0.01%             | 2030-07-26      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Project Boost Purchaser LLC                           | Project Boost Purchaser LLC 2025 Refinancing Term Loan                           | CUSIP: 74339NAG1<br>LEI: 254900SVSL94NTLSDY26 | Long             | LON              | CORP              | US        |    108681 | PA      | $108341.84    | 0.02%             | 2031-07-16      | Floating      | 7.07%                 | No            |                  2 | On Loan: No      |
| CP Atlas Buyer, Inc.                                  | CP Atlas Buyer Inc 2025 Term Loan                                                | CUSIP: 12658HAL6<br>LEI: 2549006ZZ07G0NDDCR36 | Long             | LON              | CORP              | US        |     50000 | PA      | $48875.00     | 0.01%             | 2030-07-08      | Floating      | 9.41%                 | No            |                  2 | On Loan: No      |
| ROSSINI SARL                                          | Rossini Sarl                                                                     | CUSIP: 000000000<br>LEI: 549300EC5JCCW6F83R11 | Long             | DBT              | CORP              | LU        |     60246 | PA      | $71647.99     | 0.01%             | 2029-12-31      | Floating      | 5.88%                 | No            |                  2 | On Loan: No      |
| WEX INC                                               | WEX Inc 2025 Incremental Term Loan B                                             | CUSIP: 96208UAX9<br>LEI: T9M5IGROL1TL1G5OV478 | Long             | LON              | CORP              | US        |     29850 | PA      | $29710.00     | 0.01%             | 2032-03-05      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| LABL INC                                              | LABL Inc                                                                         | CUSIP: 50168QAC9<br>LEI: 5493004FUZN8R6Y3VB98 | Long             | DBT              | CORP              | US        |     34000 | PA      | $26343.38     | 0.00%             | 2028-11-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Sellerx                                               | Sellerx 2025 Tranche A1 Term Loan                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | IE        |    736059 | PA      | $736058.57    | 0.13%             | 2028-12-31      | Floating      | 13.00%                | No            |                  3 | On Loan: No      |
| Peraton Corp                                          | Peraton Corp Term Loan B                                                         | CUSIP: 71360HAB3<br>LEI: 549300EQPCK07ZW63836 | Long             | LON              | CORP              | US        |     88595 | PA      | $74564.40     | 0.01%             | 2028-02-01      | Floating      | 8.01%                 | No            |                  2 | On Loan: No      |
| PLANVIEW PARENT INC                                   | Planview Parent Inc 2024 1st Lien Term Loan                                      | CUSIP: 72751PAJ3<br>LEI: 549300SEALM1D9FKMA32 | Long             | LON              | CORP              | US        |     17813 | PA      | $17515.65     | 0.00%             | 2027-12-17      | Floating      | 7.50%                 | No            |                  2 | On Loan: No      |
| SOFTBANK GROUP CORP                                   | SoftBank Group Corp                                                              | CUSIP: 000000000<br>LEI: 5493003BZYYYCDIO0R13 | Long             | DBT              | CORP              | JP        |    100000 | PA      | $123681.58    | 0.02%             | 2031-07-10      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| IHO VERWALTUNGS GMBH                                  | IHO Verwaltungs GmbH                                                             | CUSIP: 000000000<br>LEI: 529900JL0HDVGZMUJF32 | Long             | DBT              | CORP              | DE        |    320000 | PA      | $393486.53    | 0.07%             | 2028-05-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Summer (BC) Holdco B Sa rl                            | Summer (BC) Holdco B Sa rl 2024 USD Term Loan B                                  | CUSIP: 000000000<br>LEI: 984500NRF59D5DB9B654 | Long             | LON              | CORP              | LU        |     13929 | PA      | $13674.15     | 0.00%             | 2029-02-15      | Floating      | 9.26%                 | No            |                  2 | On Loan: No      |
| ASURION LLC                                           | Asurion LLC 2024 Term Loan B12                                                   | CUSIP: 04649VBD1<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |     14925 | PA      | $14861.64     | 0.00%             | 2030-09-19      | Floating      | 8.41%                 | No            |                  2 | On Loan: No      |
| CNT HOLDINGS I CORP                                   | CNT Holdings I Corp 2025 Term Loan                                               | CUSIP: 12656AAF6<br>LEI: 254900SYIEHMSB69WT08 | Long             | LON              | CORP              | US        |     60294 | PA      | $60241.21     | 0.01%             | 2032-11-08      | Floating      | 6.56%                 | No            |                  2 | On Loan: No      |
| AMERITEX HOLDCO INTERMED                              | AmeriTex HoldCo Intermediate LLC                                                 | CUSIP: 030727AB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     17000 | PA      | $17693.40     | 0.00%             | 2033-08-15      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| GO DADDY OPERATING COMPANY LLC                        | Go Daddy Operating Company LLC 2024 Term Loan B7                                 | CUSIP: 38017BAW6<br>LEI: 5493005GJOH8HLL11157 | Long             | LON              | CORP              | US        |     31600 | PA      | $31541.85     | 0.01%             | 2031-05-30      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| CHRONICLE BIDCO INC                                   | Chronicle Bidco Inc 2025 Term Loan                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   5131173 | PA      | $5131172.81   | 0.87%             | 2031-04-15      | Floating      | 9.32%                 | No            |                  3 | On Loan: No      |
| RAZOR GROUP GMBH                                      | Razor Group Gmbh 2025 Tranche Term Loan 2 B                                      | CUSIP: 000000000<br>LEI: 984500A70HT9566EC150 | Long             | LON              | CORP              | DE        |     92601 | PA      | $92684.49     | 0.02%             | 2029-12-20      | Floating      | 9.00%                 | No            |                  3 | On Loan: No      |
| Brook and Whittle Holding Corp.                       | Brook and Whittle Holding Corp 2025 Term Loan C                                  | CUSIP: 000000000<br>LEI: 254900BJ2380A12DX857 | Long             | LON              | CORP              | US        |   3153753 | PA      | $1229963.62   | 0.21%             | 2029-03-14      | Floating      | 13.48%                | No            |                  3 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                           | SWAP/CDSWAP/SCDS: (EOFP)                                                         | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              |  | DE        |     49000 | OU      | $6207.26      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF SRI LANKA                                 | Sri Lanka Government International Bond                                          | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |     86650 | PA      | $76555.28     | 0.01%             | 2036-05-15      | Variable      | 3.60%                 | No            |                  2 | On Loan: No      |
| Higginbotham Insurance Agency, Inc.                   | Higginbotham Insurance Agency Inc 2024 5th Amendment Term Loan                   | CUSIP: 000000000<br>LEI: 549300IY2QEM8MQC2K06 | Long             | LON              | CORP              | US        |   2396561 | PA      | $2396561.38   | 0.41%             | 2028-11-24      | Floating      | 8.67%                 | No            |                  3 | On Loan: No      |
| 1261229 BC LTD                                        | 1261229 BC Ltd                                                                   | CUSIP: 68288AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    200000 | PA      | $205010.41    | 0.03%             | 2032-04-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| FOCUS FINANCIAL PARTNERS LLC                          | Focus Financial Partners LLC 2025 Incremental Term Loan B                        | CUSIP: 34416DBD9<br>LEI: 5493007L0E0VKRC2CP39 | Long             | LON              | CORP              | US        |     71423 | PA      | $71430.56     | 0.01%             | 2031-09-15      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| VERITAS SERIES G PREFERRED STO                        | VERITAS SERIES G PREFERRED STO                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |       219 | NS      | $4982.25      | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| ARCLINE FM HOLDINGS LLC                               | Arcline FM Holdings LLC 2025 Term Loan                                           | CUSIP: 03960DAH6<br>LEI: 2549000HKCEC1E8UTO17 | Long             | LON              | CORP              | US        |   2539635 | PA      | $2537654.09   | 0.43%             | 2030-06-24      | Floating      | 7.58%                 | No            |                  2 | On Loan: No      |
| ECHOSTAR CORP                                         | EchoStar Corp                                                                    | CUSIP: 278768AC0<br>LEI: 549300EE20907QZ9GT38 | Long             | DBT              | CORP              | US        |    130036 | PA      | $143061.71    | 0.02%             | 2029-11-30      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| STANDARD CHARTERED PLC                                | Standard Chartered PLC                                                           | CUSIP: 000000000<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $212000.00    | 0.04%             | 2032-01-16      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| MPT OPER PARTNERSP/FINL                               | MPT Operating Partnership LP / MPT Finance Corp                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              |  | US        |    123000 | PA      | $150895.87    | 0.03%             | 2032-02-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| VERISURE HOLDING AB                                   | Verisure Holding AB                                                              | CUSIP: 000000000<br>LEI: 549300VQQCWGISM3N408 | Long             | DBT              | CORP              | SE        |    139000 | PA      | $168687.24    | 0.03%             | 2028-02-01      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| Lightspeed SolutionLLC                                | Lightspeed SolutionLLC Delayed Draw Term Loan                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     27535 | PA      | $27337.12     | 0.00%             | 2028-03-01      | Floating      | 10.17%                | No            |                  3 | On Loan: No      |
| ONEMAIN FINANCE CORP                                  | OneMain Finance Corp                                                             | CUSIP: 682691AM2<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |     32000 | PA      | $32050.56     | 0.01%             | 2033-03-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| MAXAM PRILL SARL                                      | Maxam Prill Sarl                                                                 | CUSIP: 000000000<br>LEI: 984500C4C5B820A6B691 | Long             | DBT              | CORP              | LU        |    197000 | PA      | $234807.35    | 0.04%             | 2030-07-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| SABRE GLBL INC                                        | Sabre GLBL Inc                                                                   | CUSIP: 78573NAL6<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | DBT              | CORP              | US        |     42000 | PA      | $40588.75     | 0.01%             | 2029-11-15      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| ALMAVIVA THE ITALIAN INN                              | Almaviva-The Italian Innovation Co SpA                                           | CUSIP: 000000000<br>LEI: 815600A862DA4DD9E211 | Long             | DBT              | CORP              | IT        |    212000 | PA      | $252840.30    | 0.04%             | 2030-10-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHOBANI LLC                                           | Chobani LLC 2025 Repriced Term Loan B                                            | CUSIP: 17026YAK5<br>LEI: 549300ISVDMZ91KNTR38 | Long             | LON              | CORP              | US        |    231468 | PA      | $231998.03    | 0.04%             | 2027-10-25      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| DELTA 2 LUX SARL                                      | Delta 2 (LUX) Sarl 2024 Term Loan B2                                             | CUSIP: 000000000<br>LEI: 549300BBG8Z3D6QSYP53 | Long             | LON              | CORP              | LU        |     40883 | PA      | $40870.52     | 0.01%             | 2031-09-30      | Floating      | 5.99%                 | No            |                  2 | On Loan: No      |
| Prime Security Services Borrower, LLC                 | Prime Security Services Borrower LLC 2025 Incremental Term Loan B                | CUSIP: 03765VAQ3<br>LEI: 549300O6QPZVWXV2DC15 | Long             | LON              | CORP              | US        |     84650 | PA      | $83789.77     | 0.01%             | 2032-03-07      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| OSAIC HOLDINGS INC                                    | Osaic Holdings Inc                                                               | CUSIP: 00791GAC1<br>LEI: 549300XL60BDV6UW5C86 | Long             | DBT              | CORP              | US        |     17000 | PA      | $17618.75     | 0.00%             | 2033-08-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| WOOF HOLDINGS INC                                     | WOOF Holdings Inc 2025 Second Out Exchange Term Loan                             | CUSIP: 95004UAC3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      5046 | PA      | $2169.82      | 0.00%             | 2029-12-31      | Floating      | 8.01%                 | No            |                  2 | On Loan: No      |
| PREMIER ENTERTAINMENT SU                              | Premier Entertainment Sub LLC / Premier Entertainment Finance Corp               | CUSIP: 74052HAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     21000 | PA      | $11340.00     | 0.00%             | 2029-09-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| LABL INC                                              | LABL Inc                                                                         | CUSIP: 50168QAF2<br>LEI: 5493004FUZN8R6Y3VB98 | Long             | DBT              | CORP              | US        |     20000 | PA      | $14692.67     | 0.00%             | 2031-10-01      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| MUANGTHAI CAPITAL PCL                                 | Muangthai Capital PCL                                                            | CUSIP: 000000000<br>LEI: 254900ZI1FO2W9132C98 | Long             | DBT              | CORP              | TH        |    475000 | PA      | $492361.25    | 0.08%             | 2030-07-21      | Fixed         | 7.55%                 | No            |                  2 | On Loan: No      |
| James Perse Enterprises Inc                           | James Perse Enterprises Inc Term Loan                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4000000 | PA      | $4000000.00   | 0.68%             | 2027-09-08      | Floating      | 10.31%                | No            |                  3 | On Loan: No      |
| NATIONSTAR MTG HLD INC                                | Nationstar Mortgage Holdings Inc                                                 | CUSIP: 63861CAG4<br>LEI: 549300DQF6YN0E43PM71 | Long             | DBT              | CORP              | US        |      7000 | PA      | $7181.22      | 0.00%             | 2029-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| WILSONART LLC                                         | Wilsonart LLC 2024 Term Loan B                                                   | CUSIP: 97246FAM8<br>LEI: 549300SAZRUMYKDJBY14 | Long             | LON              | CORP              | US        |    153600 | PA      | $148223.63    | 0.03%             | 2031-08-05      | Floating      | 8.25%                 | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GROUP INC                              | Cloud Software Group Inc 2025 Term Loan B (2032)                                 | CUSIP: 88632NBL3<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | LON              | CORP              | US        |    236229 | PA      | $236902.06    | 0.04%             | 2032-08-13      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| Altice Financing SA                                   | Altice Financing SA USD 2017 1st Lien Term Loan                                  | CUSIP: 000000000<br>LEI: 549300DIYGW8HVDF7Q17 | Long             | LON              | CORP              | LU        |     78981 | PA      | $75822.12     | 0.01%             | 2026-01-31      | Floating      | 9.00%                 | No            |                  3 | On Loan: No      |
| Coherent Corp                                         | Coherent Corp 2025 1st Lien Term Loan B2                                         | CUSIP: 45173JAS3<br>LEI: 549300O5C25A0MMHHU33 | Long             | LON              | CORP              | US        |     28764 | PA      | $28708.09     | 0.00%             | 2029-07-02      | Floating      | 6.13%                 | No            |                  2 | On Loan: No      |
| EUTELSAT SA                                           | Eutelsat SA                                                                      | CUSIP: 000000000<br>LEI: 549300MCOOY1V7P2PG30 | Long             | DBT              | CORP              | FR        |    153000 | PA      | $193932.80    | 0.03%             | 2029-04-13      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| CPUK FINANCE LTD                                      | CPUK Finance Ltd                                                                 | CUSIP: 000000000<br>LEI: 6354003CVDDPNXREIR29 | Long             | DBT              | CORP              | JE        |    116000 | PA      | $152888.91    | 0.03%             | 2027-08-28      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CoreLogic Inc                                         | CoreLogic Inc Term Loan                                                          | CUSIP: 21870FBA6<br>LEI: 54930086CD8K2UIL0516 | Long             | LON              | CORP              | US        |     92964 | PA      | $92876.53     | 0.02%             | 2028-06-02      | Floating      | 7.78%                 | No            |                  2 | On Loan: No      |
| WEBER STEPHEN PRODUCTS LLC                            | WEBER STEPHEN PRODUCTS LLC 2025 TERM LOAN B                                      | CUSIP: 000000000<br>LEI: 549300XU8TJBBGLK8V26 | Long             | LON              | CORP              | US        |     75000 | PA      | $74156.25     | 0.01%             | 2032-09-17      | Floating      | 7.88%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                | US 2YR NOTE (CBT) DEC25                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        39 | NC      | $13930.95     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| THAMES WATER UTIL LTD                                 | Thames Water Utilities Ltd                                                       | CUSIP: 000000000<br>LEI: 213800JKM5UQHFJOTZ25 | Long             | DBT              | CORP              | GB        |      3276 | PA      | $3767.06      | 0.00%             | 2027-03-22      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| API GROUP DE INC                                      | APi Group DE Inc 2025 Term Loan                                                  | CUSIP: 00186XAN3<br>LEI: 549300XP4G7B4QYA0G83 | Long             | LON              | CORP              | US        |    128342 | PA      | $128217.57    | 0.02%             | 2029-01-03      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| BCP MODULAR SERVICES                                  | BCP V Modular Services Finance II PLC                                            | CUSIP: 000000000<br>LEI: 213800227GGD6UI7PI97 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $112393.61    | 0.02%             | 2028-11-30      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CLYDESDALE ACQUISITION                                | Clydesdale Acquisition Holdings Inc                                              | CUSIP: 18972EAB1<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |     59000 | PA      | $60607.34     | 0.01%             | 2030-04-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| SERVICE PROPERTIES TRUST                              | Service Properties Trust                                                         | CUSIP: 81761LAF9<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              |  | US        |     20000 | PA      | $17630.61     | 0.00%             | 2027-09-30      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ALLIANT CALI INC                                      | ALLIANT CALI INC                                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        85 | NS      | $89739.60     | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| TOPSAIL DEBTCO LLC                                    | Topsail Debtco LLC Term Loan                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     97500 | PA      | $96427.50     | 0.02%             | 2030-12-27      | Floating      | 10.00%                | No            |                  3 | On Loan: No      |
| PIRAMAL FINANCE LTD                                   | Piramal Capital & Housing Finance Ltd                                            | CUSIP: 000000000<br>LEI: 335800M751HM7MSTFQ19 | Long             | DBT              | CORP              | IN        |    200000 | PA      | $205000.00    | 0.03%             | 2028-01-29      | Fixed         | 7.80%                 | No            |                  2 | On Loan: No      |
| IPS Corporation                                       | IPS Corporation 2021 Term Loan                                                   | CUSIP: 12659EAC2<br>LEI: 25490024F0AS5UR7DB02 | Long             | LON              | CORP              | US        |     62378 | PA      | $62280.54     | 0.01%             | 2028-10-02      | Floating      | 7.66%                 | No            |                  2 | On Loan: No      |
| VERITAS SERIES G 1 PREFERRED                          | VERITAS SERIES G 1 PREFERRED                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |       161 | NS      | $3662.75      | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| CREATIVE ARTISTS AGENCY LLC                           | Creative Artists Agency LLC 2025 Repriced Term Loan B                            | CUSIP: 22526WAU2<br>LEI: 5493008FV5TCFL3KHH96 | Long             | LON              | CORP              | US        |    163379 | PA      | $163549.08    | 0.03%             | 2031-10-01      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| TransDigm Inc                                         | TransDigm Inc 2025 Term Loan M                                                   | CUSIP: 89364MCE2<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | LON              | CORP              | US        |    151000 | PA      | $150806.72    | 0.03%             | 2032-08-19      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| K HOVNANIAN ENTERPRISES                               | K Hovnanian Enterprises Inc                                                      | CUSIP: 48251UAQ1<br>LEI: 549300JJCQ0KAI7CJG32 | Long             | DBT              | CORP              | US        |     20000 | PA      | $20505.04     | 0.00%             | 2033-10-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Nomad Foods US LLC                                    | Nomad Foods US LLC 2023 Term Loan B5                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     31363 | PA      | $31374.96     | 0.01%             | 2029-11-12      | Floating      | 6.54%                 | No            |                  2 | On Loan: No      |
| Astrion Group, LLC                                    | Astrion Group LLC 2024 Term Loan                                                 | CUSIP: 29288KAE7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4962500 | PA      | $4788812.50   | 0.81%             | 2031-08-29      | Floating      | 9.29%                 | No            |                  3 | On Loan: No      |
| X Corp.                                               | X Corp Term Loan                                                                 | CUSIP: 90184NAG3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4134040 | PA      | $4051938.25   | 0.69%             | 2029-10-26      | Floating      | 10.96%                | No            |                  2 | On Loan: No      |
| FIESTA PURCHASER INC                                  | Fiesta Purchaser Inc                                                             | CUSIP: 31659AAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      6000 | PA      | $6477.55      | 0.00%             | 2032-09-15      | Fixed         | 9.63%                 | No            |                  2 | On Loan: No      |
| RAZOR GROUP GMBH                                      | Razor Group Gmbh 2025 Tranche Term Loan 3 B                                      | CUSIP: 000000000<br>LEI: 984500A70HT9566EC150 | Long             | LON              | CORP              | DE        |   1400431 | PA      | $1096257.40   | 0.19%             | 2029-12-20      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| CRESCENT ENERGY FINANCE                               | Crescent Energy Finance LLC                                                      | CUSIP: 45344LAG8<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |     29000 | PA      | $29382.73     | 0.00%             | 2034-01-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| BIG RIVER STEEL/BRS FIN                               | Big River Steel LLC / BRS Finance Corp                                           | CUSIP: 08949LAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    169000 | PA      | $169066.08    | 0.03%             | 2029-01-31      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| ALLWYN ENTERTAINMENT FIN                              | Allwyn Entertainment Financing UK PLC                                            | CUSIP: 000000000<br>LEI: 315700J7ZTIN8XGCX365 | Long             | DBT              | CORP              | GB        |    450000 | PA      | $554078.53    | 0.09%             | 2030-04-30      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| DISH DBS CORP                                         | DISH DBS Corp                                                                    | CUSIP: 25470XBF1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     55000 | PA      | $52725.20     | 0.01%             | 2028-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| QUORUM RESTRUCTURING EQUITY                           | QUORUM RESTRUCTURING EQUITY                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     43661 | NS      | $32745.75     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| BULLHORN INC                                          | Bullhorn Inc 2025 8th Amendment Delayed Draw Term Loan 2                         | CUSIP: 000000000<br>LEI: 549300GYR0T2960RHV38 | Long             | LON              | CORP              | US        |     62746 | PA      | $62275.88     | 0.01%             | 2029-10-01      | Floating      | 9.16%                 | No            |                  3 | On Loan: No      |
| Medical Solutions Holdings Inc                        | Medical Solutions Holdings Inc 2021 1st Lien Term Loan                           | CUSIP: 58462QAH4<br>LEI: 549300JH2XHZ7TIKYR39 | Long             | LON              | CORP              | US        |        45 | PA      | $15.35        | 0.00%             | 2028-11-01      | Floating      | 7.91%                 | No            |                  2 | On Loan: No      |
| Citadel Securities LP                                 | Citadel Securities LP 2024 First Lien Term Loan                                  | CUSIP: 17288YAN2<br>LEI: 549300NV5RXBUS3X7L47 | Long             | LON              | CORP              | US        |     69480 | PA      | $69593.62     | 0.01%             | 2031-10-31      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| Oravel Stays Singapore Pte. Ltd.                      | Oravel Stays Singapore Pte Ltd 2025 Term Loan B                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | SG        |   8955000 | PA      | $9190068.75   | 1.56%             | 2030-01-08      | Floating      | 12.00%                | No            |                  2 | On Loan: No      |
| KLEOPATRA FINCO SARL                                  | Kleopatra Finco Sarl                                                             | CUSIP: 000000000<br>LEI: 222100M6T1N8VIC8M726 | Long             | DBT              | CORP              | LU        |    100000 | PA      | $66088.83     | 0.01%             | 2026-03-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| SIRVA BGRS HOLDINGS INC                               | SIRVA BGRS HOLDINGS INC                                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        34 | NS      | $28.50        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ALEXANDRITE LAKE LUX HOL                              | Alexandrite Lake Lux Holdings Sarl                                               | CUSIP: 000000000<br>LEI: 213800RY78YHYF5J8L55 | Long             | DBT              | CORP              | LU        |    140000 | PA      | $168150.66    | 0.03%             | 2030-07-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ALPHA GENERATION LLC                                  | Alpha Generation LLC                                                             | CUSIP: 02073LAA9<br>LEI: 254900K5V62L4YGVKF49 | Long             | DBT              | CORP              | US        |     21000 | PA      | $21678.10     | 0.00%             | 2032-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| GOODYEAR TIRE & RUBBER                                | Goodyear Tire & Rubber Co/The                                                    | CUSIP: 382550BJ9<br>LEI: 5493002BI0S2ZQUY3437 | Long             | DBT              | CORP              | US        |      3000 | PA      | $2835.00      | 0.00%             | 2031-04-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Corpay Technologies Operating Company LLC             | Corpay Technologies Operating Company LLC Term Loan B5                           | CUSIP: 33903RAZ2<br>LEI: 549300FKKKZCXLK48427 | Long             | LON              | CORP              | US        |    144668 | PA      | $144397.95    | 0.02%             | 2028-04-28      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| X.AI Corp                                             | XAI Corp Term Loan                                                               | CUSIP: 98402XAC9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3541378 | PA      | $3421856.01   | 0.58%             | 2030-06-28      | Floating      | 11.12%                | No            |                  2 | On Loan: No      |
| TITANIUM 2L BONDCO SARL                               | Titanium 2l Bondco Sarl                                                          | CUSIP: 000000000<br>LEI: 636700S4QMU2DWYOSF67 | Long             | DBT              | CORP              | LU        |    107900 | PA      | $32732.18     | 0.01%             | 2031-01-14      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| LOTTOMATICA GROUP SPA                                 | Lottomatica Group Spa                                                            | CUSIP: 000000000<br>LEI: 549300R72LKEGT4EX026 | Long             | DBT              | CORP              | IT        |    100000 | PA      | $121660.07    | 0.02%             | 2030-06-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Elanco Animal Health Incorporated                     | Elanco Animal Health Inc Term Loan B                                             | CUSIP: 28414BAF3<br>LEI: 549300SHPNDCE059M934 | Long             | LON              | CORP              | US        |     36985 | PA      | $36935.72     | 0.01%             | 2027-08-01      | Floating      | 6.13%                 | No            |                  2 | On Loan: No      |
| Aretec Group Inc                                      | Aretec Group Inc 2024 1st Lien Term Loan B                                       | CUSIP: 04009DAH7<br>LEI: 549300NV2T8A33L0PQ58 | Long             | LON              | CORP              | US        |     30475 | PA      | $30470.18     | 0.01%             | 2030-08-09      | Floating      | 7.66%                 | No            |                  2 | On Loan: No      |
| X Corp.                                               | X Corp 2025 Fixed Term Loan                                                      | CUSIP: 90184NAK4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   6009000 | PA      | $6023181.24   | 1.02%             | 2029-10-26      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| NAKED JUICE LLC                                       | Naked Juice LLC 2025 FLTO Term Loan                                              | CUSIP: 62984CAN3<br>LEI: 549300Y5TU1XQ1KVLJ64 | Long             | LON              | CORP              | US        |     27248 | PA      | $11081.04     | 0.00%             | 2030-01-24      | Floating      | 10.10%                | No            |                  2 | On Loan: No      |
| GARDA WORLD SECURITY                                  | Garda World Security Corp                                                        | CUSIP: 36485MAM1<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | DBT              | CORP              | CA        |     69000 | PA      | $70732.18     | 0.01%             | 2028-02-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Learning Care Group (US) No 2 Inc                     | Learning Care Group (US) No 2 Inc 2024 Term Loan B                               | CUSIP: 52200MAL4<br>LEI: 5493000VMN44LK8QID23 | Long             | LON              | CORP              | US        |      9801 | PA      | $9604.85      | 0.00%             | 2028-08-11      | Floating      | 8.32%                 | No            |                  3 | On Loan: No      |
| SPARKSTONE ELECTRICAL GROUP                           | Sparkstone Electrical Group Delayed Draw Term Loan                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     22414 | PA      | $20665.51     | 0.00%             | 2031-10-15      | Fixed         | 0.50%                 | No            |                  3 | On Loan: No      |
| SCHAEFFLER AG                                         | Schaeffler AG                                                                    | CUSIP: 000000000<br>LEI: 549300Q7E782X7GC1P43 | Long             | DBT              | CORP              | DE        |    100000 | PA      | $119328.98    | 0.02%             | 2028-04-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| LABL Inc                                              | LABL Inc 2021 USD 1st Lien Term Loan                                             | CUSIP: 50168EAN2<br>LEI: 5493004FUZN8R6Y3VB98 | Long             | LON              | CORP              | US        |     83371 | PA      | $68155.88     | 0.01%             | 2028-10-30      | Floating      | 9.26%                 | No            |                  2 | On Loan: No      |
| NGL ENRGY OP/FIN CORP                                 | NGL Energy Operating LLC / NGL Energy Finance Corp                               | CUSIP: 62922LAD0<br>LEI: 5299005YSRP46BE8Z459 | Long             | DBT              | CORP              | US        |     86000 | PA      | $88119.56     | 0.01%             | 2032-02-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| KAPLA HOLDING SAS                                     | Kapla Holding SAS                                                                | CUSIP: 000000000<br>LEI: 894500PJ28XTH66K4X83 | Long             | DBT              | CORP              | FR        |    100000 | PA      | $117866.46    | 0.02%             | 2030-07-31      | Floating      | 5.51%                 | No            |                  2 | On Loan: No      |
| VIRGIN MEDIA SECURED FIN                              | Virgin Media Secured Finance PLC                                                 | CUSIP: 000000000<br>LEI: 213800X3RLP4NOTPY579 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $124730.83    | 0.02%             | 2030-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                      | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DFE              |  | US        |         1 | NC      | $-188.59      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                        | NRG Energy Inc                                                                   | CUSIP: 629377CU4<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |     93000 | PA      | $101404.04    | 0.02%             | 2028-03-15      | Fixed         | 10.25%                | No            |                  2 | On Loan: No      |
| WORLDREMIT LTD                                        | WORLDREMIT LTD                                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |       136 | NS      | $15598.29     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ZAYO GROUP HOLDINGS INC                               | ZAYO GROUP HOLDINGS INC 2025 USD TERM LOAN                                       | CUSIP: 98919XAH4<br>LEI: 529900Z6OTS7RT0V0I47 | Long             | LON              | CORP              | US        |     10000 | PA      | $9691.70      | 0.00%             | 2030-03-11      | Floating      | 7.61%                 | No            |                  2 | On Loan: No      |
| APOLLO DEBT SOLUTIONS BD                              | Apollo Debt Solutions BDC                                                        | CUSIP: 03770DAE3<br>LEI: 549300UMUGX092P8DW87 | Long             | DBT              | CORP              | US        |      4000 | PA      | $4197.54      | 0.00%             | 2032-03-15      | Fixed         | 6.55%                 | No            |                  2 | On Loan: No      |
| GENERAC POWER SYSTEMS INC                             | Generac Power Systems Inc 2024 Term Loan B                                       | CUSIP: 36874VAQ1<br>LEI: 549300JQWLGGW8KC1X38 | Long             | LON              | CORP              | US        |     14850 | PA      | $14905.69     | 0.00%             | 2031-07-03      | Floating      | 6.03%                 | No            |                  2 | On Loan: No      |
| Astra Acquisition Corp                                | Astra Acquisition Corp 2021 2nd Lien Term Loan                                   | CUSIP: 04629UAL0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4702287 | PA      | $0.47         | 0.00%             | 2029-10-25      | Variable      | 14.47%                | No            |                  3 | On Loan: No      |
| Post CLO LTD                                          | Post CLO 2022-1 LTD                                                              | CUSIP: 73742YAG0<br>LEI: 5493007CUC7FI0ONIF25 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1000992.00   | 0.17%             | 2035-04-20      | Floating      | 7.53%                 | No            |                  2 | On Loan: No      |
| Thrasio LLC                                           | Thrasio LLC 2024 1st Out Take Back Term Loan                                     | CUSIP: 88552XAQ7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    437804 | PA      | $372133.43    | 0.06%             | 2029-06-18      | Floating      | 14.58%                | No            |                  3 | On Loan: No      |
| ELECTRICITE DE FRANCE SA                              | Electricite de France SA                                                         | CUSIP: 000000000<br>LEI: 549300X3UK4GG3FNMO06 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $242310.70    | 0.04%             | 2029-09-17      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                      | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DFE              |  | US        |         1 | NC      | $-297.46      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| OEG FINANCE PLC                                       | OEG Finance PLC                                                                  | CUSIP: 000000000<br>LEI: 254900KMBHWF9UK63G44 | Long             | DBT              | CORP              | GB        |    216000 | PA      | $265051.90    | 0.05%             | 2029-09-27      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| ROSSINI SARL                                          | Rossini Sarl                                                                     | CUSIP: 000000000<br>LEI: 549300EC5JCCW6F83R11 | Long             | DBT              | CORP              | LU        |    250000 | PA      | $309652.16    | 0.05%             | 2029-12-31      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| FOCUS FINANCIAL PARTNERS                              | Focus Financial Partners LLC                                                     | CUSIP: 34417VAA5<br>LEI: 5493007L0E0VKRC2CP39 | Long             | DBT              | CORP              | US        |     40000 | PA      | $40964.72     | 0.01%             | 2031-09-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP INC                                | Cloud Software Group Inc                                                         | CUSIP: 18912UAC6<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |    140000 | PA      | $148505.47    | 0.03%             | 2032-06-30      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| DIRECTV FIN LLC/COINC                                 | Directv Financing LLC / Directv Financing Co-Obligor Inc                         | CUSIP: 25461LAD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     48000 | PA      | $47929.54     | 0.01%             | 2031-02-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                         | Citigroup Inc                                                                    | CUSIP: 172967PR6<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     29000 | PA      | $29442.72     | 0.01%             | 2030-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| MCAFEE CORP                                           | McAfee Corp                                                                      | CUSIP: 579063AB4<br>LEI: 2549009UKR8UEZYVCR93 | Long             | DBT              | CORP              | US        |     62000 | PA      | $57510.67     | 0.01%             | 2030-02-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| KELLERMEYER BERGENSONS PREF                           | KELLERMEYER BERGENSONS PREF                                                      | CUSIP: 000000000<br>LEI: 54930034MXTH6MFOLN53 | Long             | EP               | CORP              | US        |     45118 | NS      | $0.45         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| DIGITAL REALTY TRUST LP                               | Digital Realty Trust LP                                                          | CUSIP: 25389JAX4<br>LEI: CD4SPTZ3YBTHY0C1AH38 | Long             | DBT              |  | US        |      6000 | PA      | $6300.00      | 0.00%             | 2029-11-15      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| NWD FINANCE (BVI) LTD                                 | NWD Finance BVI Ltd                                                              | CUSIP: 000000000<br>LEI: 25490076V8K09HMNCT88 | Long             | DBT              | CORP              | VG        |    200000 | PA      | $74350.00     | 0.01%             | 2028-03-10      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| AI AQUA MERGER SUB INC                                | AI Aqua Merger Sub Inc 2024 1st Lien Term Loan B                                 | CUSIP: 00132UAP9<br>LEI: 5493005QMH1D47U26R45 | Long             | LON              | CORP              | US        |    114289 | PA      | $114493.67    | 0.02%             | 2028-07-31      | Floating      | 7.28%                 | No            |                  2 | On Loan: No      |
| WR GRACE HOLDING LLC                                  | WR Grace Holdings LLC                                                            | CUSIP: 92943GAE1<br>LEI: 549300WNOVFRGYOAEB12 | Long             | DBT              | CORP              | US        |     51000 | PA      | $52010.26     | 0.01%             | 2031-03-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| KAISER ALUMINUM CORP                                  | Kaiser Aluminum Corp                                                             | CUSIP: 483007AL4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    139000 | PA      | $131011.73    | 0.02%             | 2031-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| DOMINION ENERGY INC                                   | Dominion Energy Inc                                                              | CUSIP: 25746UDU0<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |    355000 | PA      | $384921.89    | 0.07%             | 2054-06-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ITT HOLDINGS LLC                                      | ITT Holdings LLC                                                                 | CUSIP: 45074JAA2<br>LEI: 549300TH2PHOLK31LB42 | Long             | DBT              | CORP              | US        |     11000 | PA      | $10814.48     | 0.00%             | 2029-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Cotiviti Corporation                                  | Cotiviti Corporation 2024 Fixed Term Loan B                                      | CUSIP: 22164MAD9<br>LEI: 254900YAQHVRTG4IFI64 | Long             | LON              | CORP              | US        |     50000 | PA      | $50140.50     | 0.01%             | 2031-05-01      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| CHEMOURS CO                                           | Chemours Co/The                                                                  | CUSIP: 163851AJ7<br>LEI: 549300M1BOLNXL8DOV14 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5967.99      | 0.00%             | 2033-01-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| BW NHHC Holdco Inc                                    | BW NHHC Holdco Inc 2022 1st Lien Second Out Term Loan                            | CUSIP: 05606CAR1<br>LEI: 549300Y5ZHAEE7MHCH51 | Long             | LON              | CORP              | US        |   4429508 | PA      | $4102832.16   | 0.70%             | 2026-01-15      | Floating      | 9.75%                 | No            |                  2 | On Loan: No      |
| ADLER FINANCING SARL                                  | Adler Financing Sarl                                                             | CUSIP: 000000000<br>LEI: 213800BAQB59IVKP7S93 | Long             | DBT              | CORP              | LU        |    377016 | PA      | $471148.52    | 0.08%             | 2028-12-31      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA REIT NEW COMMON S                        | PENNSYLVANIA REIT NEW COMMON S                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             |  | US        |     70000 | NS      | $1697500.00   | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Barracuda Networks Inc                                | Barracuda Networks Inc 2022 Term Loan                                            | CUSIP: 06832FAB3<br>LEI: 549300CXGRZWNMPU8080 | Long             | LON              | CORP              | US        |     56544 | PA      | $47207.77     | 0.01%             | 2029-08-15      | Floating      | 8.81%                 | No            |                  2 | On Loan: No      |
| Vistra Operations Company LLC                         | Vistra Operations Company LLC 1st Lien Term Loan B3                              | CUSIP: 88233FAK6<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | LON              | CORP              | US        |     59346 | PA      | $59392.61     | 0.01%             | 2030-12-20      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| Nyack Park CLO, Ltd.                                  | NYACK Park CLO Ltd                                                               | CUSIP: 67080PAJ5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1250000 | PA      | $1250000.00   | 0.21%             | 2034-10-20      | Floating      | 6.54%                 | No            |                  2 | On Loan: No      |
| Tenneco Inc                                           | Tenneco Inc 2022 Term Loan B                                                     | CUSIP: 88037HAP9<br>LEI: 549300U0EXXFAQFAD785 | Long             | LON              | CORP              | US        |     74000 | PA      | $72312.06     | 0.01%             | 2028-11-17      | Floating      | 9.30%                 | No            |                  2 | On Loan: No      |
| SPRINGS WINDOWS FASHIONS LLC                          | Springs Windows Fashions LLC 2024 FLFO A1 Term Loan                              | CUSIP: 78489HAG3<br>LEI: 5493000CMZKPQ7BKPB20 | Long             | LON              | CORP              | US        |     11110 | PA      | $11123.61     | 0.00%             | 2029-12-19      | Floating      | 8.66%                 | No            |                  2 | On Loan: No      |
| ASCENT RESOURCES/ARU FIN                              | Ascent Resources Utica Holdings LLC / ARU Finance Corp                           | CUSIP: 04364VAK9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      2000 | PA      | $2416.30      | 0.00%             | 2027-11-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| QXO BUILDING PRODUCTS                                 | QXO Building Products Inc                                                        | CUSIP: 74825NAA5<br>LEI: 549300HDXQWWCBOYXP31 | Long             | DBT              | CORP              | US        |     65000 | PA      | $67300.75     | 0.01%             | 2032-04-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| DIRECTV FIN LLC/COINC                                 | Directv Financing LLC / Directv Financing Co-Obligor Inc                         | CUSIP: 25461LAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     26000 | PA      | $25970.83     | 0.00%             | 2027-08-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| RAZOR INFINITE PRIOR 5C PREF                          | RAZOR INFINITE PRIOR 5C PREF                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |   2815463 | NS      | $28.15        | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| AES CORP/THE                                          | AES Corp/The                                                                     | CUSIP: 00130HCK9<br>LEI: 2NUNNB7D43COUIRE5295 | Long             | DBT              | CORP              | US        |     19000 | PA      | $19681.26     | 0.00%             | 2055-01-15      | Fixed         | 7.60%                 | No            |                  2 | On Loan: No      |
| PREGIS TOPCO CORPORATION                              | Pregis TopCo Corporation 2025 Refinancing Term Loan                              | CUSIP: 74045BAG2<br>LEI: 549300LJXHJYHS1GM034 | Long             | LON              | CORP              | US        |     36569 | PA      | $36797.40     | 0.01%             | 2029-02-01      | Floating      | 8.16%                 | No            |                  2 | On Loan: No      |
| LIGHT & WONDER INTL INC                               | Light & Wonder International Inc                                                 | CUSIP: 531968AB1<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | DBT              | CORP              | US        |     18000 | PA      | $18030.60     | 0.00%             | 2033-10-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| RENEW POWER PVT LTD                                   | ReNew Pvt Ltd                                                                    | CUSIP: 000000000<br>LEI: 335800BITJZHVZ1CN475 | Long             | DBT              | CORP              | IN        |    200000 | PA      | $199722.00    | 0.03%             | 2027-03-05      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| TRANSOCEAN INC                                        | Transocean International Ltd                                                     | CUSIP: 893830BY4<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | BM        |     17000 | PA      | $16759.73     | 0.00%             | 2029-05-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| HUB INTERNATIONAL LIMITED                             | HUB International Limited 2025 Term Loan B                                       | CUSIP: 44332EAZ9<br>LEI: 549300JQT6ATTUNS5E06 | Long             | LON              | CORP              | US        |    211143 | PA      | $211400.22    | 0.04%             | 2030-06-20      | Floating      | 6.58%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                         | TRANSDIGM INC 2025 TERM LOAN K                                                   | CUSIP: 89364MCF9<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | LON              | CORP              | US        |     12835 | PA      | $12819.58     | 0.00%             | 2030-03-22      | Floating      | 6.25%                 | No            |                  2 | On Loan: No      |
| STATION CASINOS LLC                                   | Station Casinos LLC                                                              | CUSIP: 857691AJ8<br>LEI: 5493004E7Q60TX54WL62 | Long             | DBT              | CORP              | US        |     39000 | PA      | $40062.52     | 0.01%             | 2032-03-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC                | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | US        |         1 | NC      | $806.69       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| DELEK LOG PART/FINANCE                                | Delek Logistics Partners LP / Delek Logistics Finance Corp                       | CUSIP: 24665FAE2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     22000 | PA      | $22371.71     | 0.00%             | 2033-06-30      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| GREENKO POWER II LTD                                  | Greenko Power II Ltd                                                             | CUSIP: 000000000<br>LEI: 254900YYA4B6O2O4JM12 | Long             | DBT              | CORP              | MU        |    159500 | PA      | $152135.89    | 0.03%             | 2028-12-13      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| NEWELL BRANDS INC                                     | Newell Brands Inc                                                                | CUSIP: 651229BG0<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |     12000 | PA      | $12692.83     | 0.00%             | 2028-06-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| PLAYPOWER INC                                         | Playpower Inc 2024 Term Loan                                                     | CUSIP: 000000000<br>LEI: 549300SUBBD4NQQD2G45 | Long             | LON              | CORP              | US        |   4300000 | PA      | $4244099.98   | 0.72%             | 2030-08-28      | Floating      | 9.25%                 | No            |                  3 | On Loan: No      |
| TRAVELPORT                                            | TRAVELPORT                                                                       | CUSIP: 000000000<br>LEI: IO4AG7EXK7ETMHT8ZR57 | Long             | EC               | CORP              | US        |        10 | NS      | $30182.30     | 0.01%             |  |  |  | No            |                  3 | On Loan: No      |
| Mitchell International, Inc.                          | Mitchell International Inc 2024 1st Lien Term Loan                               | CUSIP: 60662WAW2<br>LEI: 5493002RDNIGEM7SSV41 | Long             | LON              | CORP              | US        |    104940 | PA      | $104783.64    | 0.02%             | 2031-06-17      | Floating      | 7.41%                 | No            |                  2 | On Loan: No      |
| Kellermeyer Bergensons Services LLC                   | Kellermeyer Bergensons Services LLC 2024 Amendment No 8 Term Loan                | CUSIP: 000000000<br>LEI: 54930034MXTH6MFOLN53 | Long             | LON              | CORP              | US        |    374420 | PA      | $374420.05    | 0.06%             | 2028-11-06      | Floating      | 6.21%                 | No            |                  3 | On Loan: No      |
| EMPIRE COMMUNITIES CORP                               | Empire Communities Corp                                                          | CUSIP: 29163VAG8<br>LEI: 549300JM1L6KK2QFP273 | Long             | DBT              | CORP              | CA        |      5000 | PA      | $5242.60      | 0.00%             | 2029-05-01      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| HELIOS SOFT/ION CORP SOL                              | Helios Software Holdings Inc / ION Corporate Solutions Finance Sarl              | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    271000 | PA      | $332924.92    | 0.06%             | 2029-05-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| MEDLINE BORROWER LP                                   | Medline Borrower LP 2025 Term Loan B                                             | CUSIP: 58503UAH6<br>LEI: 254900QT3R363TVK6F09 | Long             | LON              | CORP              | US        |    369542 | PA      | $369519.56    | 0.06%             | 2028-10-23      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| OLYMPUS WTR US HLDG CORP                              | Olympus Water US Holding Corp                                                    | CUSIP: 000000000<br>LEI: 549300YU2GGVCBN3MY89 | Long             | DBT              | CORP              | US        |    427000 | PA      | $525793.75    | 0.09%             | 2028-11-15      | Fixed         | 9.63%                 | No            |                  2 | On Loan: No      |
| BEACH ACQUISITION BIDCO LLC                           | BEACH ACQUISITION BIDCO LLC USD TERM LOAN B                                      | CUSIP: 07337FAB1<br>LEI: 254900F2FNX3GBTB6202 | Long             | LON              | CORP              | US        |     16000 | PA      | $16066.72     | 0.00%             | 2032-09-12      | Floating      | 7.31%                 | No            |                  2 | On Loan: No      |
| MSM Acquisitions Inc                                  | MSM Acquisitions Inc 2021 Delayed Draw Term Loan                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     83486 | PA      | $74219.10     | 0.01%             | 2026-12-09      | Floating      | 10.20%                | No            |                  3 | On Loan: No      |
| KUEHG CORP                                            | KUEHG Corp 2025 Term Loan                                                        | CUSIP: 50118YAH2<br>LEI: 549300YNT566T1NYJX62 | Long             | LON              | CORP              | US        |     21238 | PA      | $21216.25     | 0.00%             | 2030-06-12      | Floating      | 6.75%                 | No            |                  2 | On Loan: No      |
| CRESCENT ENERGY FINANCE                               | Crescent Energy Finance LLC                                                      | CUSIP: 45344LAD5<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |     42000 | PA      | $41709.91     | 0.01%             | 2032-04-01      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| Zayo Group Holdings Inc                               | Zayo Group Holdings Inc USD Term Loan                                            | CUSIP: 98919XAB7<br>LEI: 529900Z6OTS7RT0V0I47 | Long             | LON              | CORP              | US        |    180194 | PA      | $177378.89    | 0.03%             | 2027-03-09      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| WILLIAMS SCOTSMAN INC                                 | Williams Scotsman Inc                                                            | CUSIP: 96949VAN3<br>LEI: 549300DAKDS8SCO1OT57 | Long             | DBT              | CORP              | US        |     23000 | PA      | $23673.10     | 0.00%             | 2030-04-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Zurn Holdings Inc                                     | Zurn Holdings Inc 2021 Term Loan B                                               | CUSIP: 76168JAS5<br>LEI: 549300XLZXRC2KJ6VK87 | Long             | LON              | CORP              | US        |     20291 | PA      | $20384.25     | 0.00%             | 2028-10-04      | Floating      | 6.28%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                         | Citigroup Inc                                                                    | CUSIP: 17327CAV5<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     15000 | PA      | $15405.11     | 0.00%             | 2030-02-15      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| NEW ENTERPRISE STONE & L                              | New Enterprise Stone & Lime Co Inc                                               | CUSIP: 644274AG7<br>LEI: 549300O5DQ5Y61B8VF38 | Long             | DBT              | CORP              | US        |     20000 | PA      | $20044.39     | 0.00%             | 2028-07-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| VENSURE EMPLOYER SERVICES INC                         | Vensure Employer Services Inc 2024 Term Loan                                     | CUSIP: 92276AAU5<br>LEI: 549300OI92ZMA6M8UW59 | Long             | LON              | CORP              | US        |     90504 | PA      | $89699.08     | 0.02%             | 2031-09-29      | Floating      | 9.33%                 | No            |                  3 | On Loan: No      |
| HOWDEN UK REFINANCE / US                              | Howden UK Refinance PLC / Howden UK Refinance 2 PLC / Howden US Refinance LLC    | CUSIP: 44287DAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |     65000 | PA      | $67437.37     | 0.01%             | 2032-02-15      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| Restoration Hardware Inc                              | Restoration Hardware Inc Term Loan B                                             | CUSIP: 76133MAB7<br>LEI: 549300H9H1H3OC7C3H47 | Long             | LON              | CORP              | US        |     39747 | PA      | $38637.22     | 0.01%             | 2028-10-20      | Floating      | 6.78%                 | No            |                  2 | On Loan: No      |
| BAUSCH + LOMB CORP                                    | Bausch + Lomb Corp                                                               | CUSIP: 071705AA5<br>LEI: 549300NY6OZM39SO6475 | Long             | DBT              | CORP              | CA        |    126000 | PA      | $131315.63    | 0.02%             | 2028-10-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| FTAI AVIATION INVESTORS                               | FTAI Aviation Investors LLC                                                      | CUSIP: 34960PAF8<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |     92000 | PA      | $96237.34     | 0.02%             | 2031-05-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| GREAT CAN GAMING/RAPTOR                               | Great Canadian Gaming Corp/Raptor LLC                                            | CUSIP: 389925AA6<br>LEI: 549300FU60SSFLTE0M84 | Long             | DBT              | CORP              | XX        |     28000 | PA      | $27687.41     | 0.00%             | 2029-11-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| COREWEAVE INC                                         | CoreWeave Inc                                                                    | CUSIP: 21873SAB4<br>LEI: 984500511DP2B6186053 | Long             | DBT              | CORP              | US        |     17000 | PA      | $17557.50     | 0.00%             | 2030-06-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| CCC Intelligent Solutions Inc                         | CCC Intelligent Solutions Inc Term Loan                                          | CUSIP: 12511BAC6<br>LEI: 5493006JEEL9RIWY5T17 | Long             | LON              | CORP              | US        |    152755 | PA      | $152516.63    | 0.03%             | 2032-01-23      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE SA                                      | Altice France SA                                                                 | CUSIP: 02156LAC5<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |   2100000 | PA      | $1848000.00   | 0.31%             | 2028-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| INTRUM INV AND FIN                                    | Intrum Investments And Financing AB                                              | CUSIP: 000000000<br>LEI: 984500D7B1EFD7460452 | Long             | DBT              | CORP              | SE        |    135433 | PA      | $140360.86    | 0.02%             | 2028-09-11      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| HOMERENEW BUYER INC                                   | HomeRenew Buyer Inc 2025 Super Priority Term Loan                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1436331 | PA      | $1436331.31   | 0.24%             | 2030-04-14      | Floating      | 13.88%                | No            |                  3 | On Loan: No      |
| EOC Borrower LLC                                      | EOC Borrower LLC Term Loan B                                                     | CUSIP: 26875YAB8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    168578 | PA      | $168493.21    | 0.03%             | 2032-03-24      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| SURGERY CENTER HOLDINGS INC                           | Surgery Center Holdings Inc 2025 Term Loan B                                     | CUSIP: 86880NBD4<br>LEI: 54930054EVI5HWPPW113 | Long             | LON              | CORP              | US        |     75091 | PA      | $75105.22     | 0.01%             | 2030-12-19      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| Cvent, Inc.                                           | Cvent Inc 2025 Term Loan B                                                       | CUSIP: 14071CAE8<br>LEI: 254900YSP2BAI3YKIX08 | Long             | LON              | CORP              | US        |     63408 | PA      | $63236.22     | 0.01%             | 2030-06-17      | Floating      | 6.75%                 | No            |                  2 | On Loan: No      |
| Gainwell Acquisition Corp                             | Gainwell Acquisition Corp Term Loan B                                            | CUSIP: 59909TAC8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     36526 | PA      | $35895.61     | 0.01%             | 2027-10-01      | Floating      | 8.10%                 | No            |                  2 | On Loan: No      |
| WHATABRANDS LLC                                       | Whatabrands LLC 2024 1st Lien Term Loan B                                        | CUSIP: 96244UAJ6<br>LEI: 254900HMMX4HTWIP0085 | Long             | LON              | CORP              | US        |     54509 | PA      | $54537.21     | 0.01%             | 2028-08-03      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| Lennar Corp                                           | Lennar Corp                                                                      | CUSIP: 526057104<br>LEI: 529900G61XVRLX5TJX09 | Long             | EC               | CORP              | US        |     20000 | NS      | $2520800.00   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| CHART INDUSTRIES INC                                  | Chart Industries Inc                                                             | CUSIP: 16115QAG5<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | DBT              | CORP              | US        |     40000 | PA      | $42854.28     | 0.01%             | 2031-01-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Hertz Corporation, (The)                              | Hertz Corporation (The) 2021 Term Loan B                                         | CUSIP: 42804VBB6<br>LEI: 549300PD0C69OJ0NLB27 | Long             | LON              | CORP              | US        |     54237 | PA      | $48594.35     | 0.01%             | 2028-06-30      | Floating      | 8.07%                 | No            |                  2 | On Loan: No      |
| DEALER TIRE FINANCIAL LLC                             | Dealer Tire Financial LLC 2024 1st Lien Term Loan B                              | CUSIP: 24228HAR9<br>LEI: 894500QBE5Z2XQWCJ779 | Long             | LON              | CORP              | US        |     64350 | PA      | $63974.92     | 0.01%             | 2031-07-02      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| UNITI GROUP/CSL CAPITAL                               | Uniti Group LP / Uniti Group Finance 2019 Inc / CSL Capital LLC                  | CUSIP: 91327TAA9<br>LEI: N/A                  | Long             | DBT              |  | US        |    137000 | PA      | $144288.40    | 0.02%             | 2028-02-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| FAR EAST HORIZON LTD                                  | Far East Horizon Ltd                                                             | CUSIP: 000000000<br>LEI: 549300S9XRGO1ZPUHE62 | Long             | DBT              | CORP              | HK        |    200000 | PA      | $202688.00    | 0.03%             | 2028-03-05      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Employ Inc                                            | Employ Inc Term Loan                                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    250000 | PA      | $246457.75    | 0.04%             | 2028-08-07      | Floating      | 11.73%                | No            |                  3 | On Loan: No      |
| INEOS FINANCE PLC                                     | INEOS Finance PLC                                                                | CUSIP: 000000000<br>LEI: 2138002D68XDR4LZCG32 | Long             | DBT              | CORP              | GB        |    202000 | PA      | $234860.57    | 0.04%             | 2029-04-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Great Canadian Gaming Corporation                     | Great Canadian Gaming Corporation 2024 Term Loan B                               | CUSIP: 000000000<br>LEI: 549300FU60SSFLTE0M84 | Long             | LON              | CORP              | CA        |     41083 | PA      | $39465.81     | 0.01%             | 2029-11-01      | Floating      | 8.75%                 | No            |                  2 | On Loan: No      |
| Bausch & Lomb Corporation                             | Bausch & Lomb Corporation 2025 Term Loan B                                       | CUSIP: 000000000<br>LEI: 549300NY6OZM39SO6475 | Long             | LON              | CORP              | CA        |     93159 | PA      | $93081.97     | 0.02%             | 2031-01-15      | Floating      | 8.41%                 | No            |                  2 | On Loan: No      |
| TRANSOCEAN INC                                        | Transocean International Ltd                                                     | CUSIP: 893830BL2<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | BM        |     43000 | PA      | $42940.22     | 0.01%             | 2027-02-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| WORLDLINE SA/FRANCE                                   | Worldline SA/France                                                              | CUSIP: 000000000<br>LEI: 549300CJMQNCA0U4TS33 | Long             | DBT              | CORP              | FR        |     12300 | PA      | $13769.32     | 0.00%             | 2026-07-30      | None          | 0.00%                 | No            |                  1 | On Loan: No      |
| 720 East CLO Ltd.                                     | 720 East CLO 2022-I Ltd                                                          | CUSIP: 81785AAQ1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1002844.80   | 0.17%             | 2038-01-20      | Floating      | 6.23%                 | No            |                  2 | On Loan: No      |
| SPIRIT AEROSYSTEMS INC                                | Spirit AeroSystems Inc                                                           | CUSIP: 85205TAR1<br>LEI: ZD2NBKV6GCC3UMGBM518 | Long             | DBT              | CORP              | US        |     39000 | PA      | $42891.97     | 0.01%             | 2030-11-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| VONOVIA SE                                            | Vonovia SE                                                                       | CUSIP: 000000000<br>LEI: 5299005A2ZEP6AP7KM81 | Long             | DBT              | CORP              | DE        |    100000 | PA      | $117763.86    | 0.02%             | 2032-05-20      | Fixed         | 0.88%                 | No            |                  1 | On Loan: No      |
| VIRGIN MEDIA O2 V DAC                                 | Virgin Media O2 Vendor Financing Notes V DAC                                     | CUSIP: 000000000<br>LEI: 635400ASSEVCXAPVGC36 | Long             | DBT              | CORP              | IE        |    126000 | PA      | $175132.59    | 0.03%             | 2032-03-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Alphasense,Inc.                                       | AlphasenseInc 2024 Term Loan                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4166667 | PA      | $4150558.79   | 0.71%             | 2029-06-27      | Floating      | 10.24%                | No            |                  3 | On Loan: No      |
| Kaman Corporation                                     | Kaman Corporation 2025 Term Loan B                                               | CUSIP: 48354VAM4<br>LEI: 5493003YK076OLTEQF95 | Long             | LON              | CORP              | US        |     32247 | PA      | $32123.60     | 0.01%             | 2032-02-26      | Floating      | 6.70%                 | No            |                  2 | On Loan: No      |
| HOMERENEW BUYER INC                                   | HomeRenew Buyer Inc 2025 Super Priority Term Loan 1                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    329470 | PA      | $329469.92    | 0.06%             | 2030-04-14      | Floating      | 12.38%                | No            |                  3 | On Loan: No      |
| Whitebox CLO Ltd                                      | Whitebox Clo I Ltd                                                               | CUSIP: 96467FAY6<br>LEI: 549300E4AC0513DYO913 | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $2005359.80   | 0.34%             | 2036-07-24      | Floating      | 6.07%                 | No            |                  2 | On Loan: No      |
| VIZIENT INC                                           | Vizient Inc 2024 Term Loan B                                                     | CUSIP: 92855LAR7<br>LEI: 5493007V6T3HZ7777P70 | Long             | LON              | CORP              | US        |     20794 | PA      | $20820.07     | 0.00%             | 2031-08-01      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| WINDSTREAM SERVICES LLC                               | WINDSTREAM SERVICES LLC 2025 TERM LOAN B                                         | CUSIP: 000000000<br>LEI: 549300KT9GVEBYCD2N29 | Long             | LON              | CORP              | US        |     64000 | PA      | $63360.00     | 0.01%             | 2032-09-24      | Floating      | 8.14%                 | No            |                  3 | On Loan: No      |
| THAMES WATER UTILITIES FINANCE PLC                    | THAMES WATER UTILITIES FINANCE PLC                                               | CUSIP: 04649VAZ3<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |     76000 | PA      | $73910.00     | 0.01%             | 2028-01-31      | Floating      | 9.53%                 | No            |                  2 | On Loan: No      |
| Digicel International Finance Limited                 | Digicel International Finance Limited 2025 Term Loan B                           | CUSIP: 000000000<br>LEI: 5493007V023VOEW4FK27 | Long             | LON              | CORP              | BM        |     27000 | PA      | $26966.25     | 0.00%             | 2032-08-06      | Floating      | 9.49%                 | No            |                  2 | On Loan: No      |
| OCADO GROUP PLC                                       | Ocado Group PLC                                                                  | CUSIP: 000000000<br>LEI: 213800LO8F61YB8MBC74 | Long             | DBT              | CORP              | GB        |    113000 | PA      | $152687.55    | 0.03%             | 2030-06-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| Greywolf CLO Ltd                                      | Greywolf CLO V Ltd                                                               | CUSIP: 39808PAS5<br>LEI: 549300RJBZLY8V18YD77 | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $502642.15    | 0.09%             | 2031-01-27      | Floating      | 7.58%                 | No            |                  2 | On Loan: No      |
| Perrigo Investments, LLC                              | Perrigo Investments LLC 2024 Term Loan B                                         | CUSIP: 71429TAF7<br>LEI: 549300POZGC78VHAAJ73 | Long             | LON              | CORP              | US        |     28059 | PA      | $28011.91     | 0.00%             | 2029-04-20      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| PMA Parent Holdings LLC                               | PMA Parent Holdings LLC Term Loan                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     87063 | PA      | $86202.14     | 0.01%             | 2031-01-31      | Floating      | 8.75%                 | No            |                  3 | On Loan: No      |
| American Builders & Contractors Supply Co Inc         | American Builders & Contractors Supply Co Inc 2024 Term Loan B                   | CUSIP: 02474RAJ2<br>LEI: 549300H5GQ4C1BEKG397 | Long             | LON              | CORP              | US        |     73983 | PA      | $74111.15     | 0.01%             | 2031-01-31      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| SHOWTIME ACQUISITION LLC                              | Showtime Acquisition LLC 2024 1st Lien Term Loan                                 | CUSIP: 82540EAC8<br>LEI: 54930002EOYTEFEJFW69 | Long             | LON              | CORP              | US        |   4975000 | PA      | $4931600.74   | 0.84%             | 2031-08-16      | Floating      | 8.94%                 | No            |                  3 | On Loan: No      |
| ALLIANT HOLD / CO-ISSUER                              | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                   | CUSIP: 01883LAH6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    102000 | PA      | $105104.10    | 0.02%             | 2032-10-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| GIP Pilot Acquisition Partners LP                     | GIP Pilot Acquisition Partners LP 2025 Term Loan B                               | CUSIP: 31773HAE2<br>LEI: 254900NQOAOPPA12X060 | Long             | LON              | CORP              | US        |     11548 | PA      | $11522.48     | 0.00%             | 2030-10-04      | Floating      | 6.29%                 | No            |                  2 | On Loan: No      |
| OLYMPUS WTR US HLDG CORP                              | Olympus Water US Holding Corp                                                    | CUSIP: 25259KAA8<br>LEI: 549300YU2GGVCBN3MY89 | Long             | DBT              | CORP              | US        |    200000 | PA      | $209900.00    | 0.04%             | 2028-11-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INFO MGMT                               | Iron Mountain Information Management Services Inc                                | CUSIP: 46285MAA8<br>LEI: N/A                  | Long             | DBT              |  | US        |     63000 | PA      | $60703.08     | 0.01%             | 2032-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SIRVA Worldwide Inc                                   | SIRVA Worldwide Inc 2024 Term Loan                                               | CUSIP: 000000000<br>LEI: 549300NHGBSB7RBY2786 | Long             | LON              | CORP              | US        |     40418 | PA      | $15358.82     | 0.00%             | 2029-08-20      | Floating      | 12.20%                | No            |                  2 | On Loan: No      |
| DOCUPACE TECHNOLOGIES LLC                             | Docupace Technologies LLC Term Loan                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2063641 | PA      | $2034750.13   | 0.35%             | 2030-07-15      | Floating      | 10.05%                | No            |                  3 | On Loan: No      |
| BNP PARIBAS SA                                        | SWAP/CDSWAP/CDS: (ITRAXX.XO.42.V2 20-35%)                                        | CUSIP: 000000000<br>LEI: QHSFEYI7HUOXXZ413E03 | N/A              | DCR              |  | FR        |    114000 | OU      | $18706.50     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                               | Frontier Communications Holdings LLC                                             | CUSIP: 35908MAD2<br>LEI: 549300ZCZ76HYCS0H445 | Long             | DBT              | CORP              | US        |    162000 | PA      | $169232.49    | 0.03%             | 2030-05-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| BROOKFIELD PPTY REIT INC                              | Brookfield Property REIT Inc / BPR Cumulus LLC / BPR Nimbus LLC / GGSI Sellco LL | CUSIP: 11284DAC9<br>LEI: N/A                  | Long             | DBT              |  | US        |     14000 | PA      | $13750.13     | 0.00%             | 2027-04-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PROGROUP AG                                           | Progroup AG                                                                      | CUSIP: 000000000<br>LEI: 529900YI5W5TQ8F2FP82 | Long             | DBT              | CORP              | DE        |    100000 | PA      | $119499.64    | 0.02%             | 2029-04-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| ATLAS CC ACQUISITION CORP                             | Atlas CC Acquisition Corp 2025 Second Out Term Loan B                            | CUSIP: 04921TAR5<br>LEI: 6HHLXIOGCDNZ4IRAIW26 | Long             | LON              | CORP              | US        |    173928 | PA      | $99084.95     | 0.02%             | 2029-05-25      | Floating      | 8.83%                 | No            |                  2 | On Loan: No      |
| PTSH Intermediate Holdings LLC                        | PTSH Intermediate Holdings LLC Term Loan                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2444211 | PA      | $2444210.52   | 0.42%             | 2027-12-17      | Floating      | 9.65%                 | No            |                  3 | On Loan: No      |
| Polaris Newco LLC                                     | Polaris Newco LLC USD Term Loan B                                                | CUSIP: 73108RAB4<br>LEI: 254900LEPDAG7EDOA064 | Long             | LON              | CORP              | US        |     76397 | PA      | $73543.21     | 0.01%             | 2028-06-02      | Floating      | 8.57%                 | No            |                  2 | On Loan: No      |
| LOGICMONITOR INC                                      | LogicMonitor Inc 2024 Term Loan                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     81197 | PA      | $80258.83     | 0.01%             | 2031-11-19      | Floating      | 9.81%                 | No            |                  3 | On Loan: No      |
| OMNIA PARTNERS LLC                                    | OMNIA Partners LLC 2024 Term Loan B                                              | CUSIP: 68218HAE7<br>LEI: 254900ZD1P5CVG9GOS22 | Long             | LON              | CORP              | US        |     29700 | PA      | $29695.26     | 0.01%             | 2030-07-25      | Floating      | 6.81%                 | No            |                  2 | On Loan: No      |
| NAVIENT CORP                                          | Navient Corp                                                                     | CUSIP: 63938CAQ1<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |     22000 | PA      | $23149.68     | 0.00%             | 2032-06-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Minerals Technologies Inc                             | Minerals Technologies Inc 2024 Term Loan B                                       | CUSIP: 60315GAH1<br>LEI: 549300D3I1QU67GP6403 | Long             | LON              | CORP              | US        |     59550 | PA      | $59550.00     | 0.01%             | 2031-11-26      | Floating      | 6.16%                 | No            |                  3 | On Loan: No      |
| GARDA WORLD SECURITY                                  | Garda World Security Corp                                                        | CUSIP: 36485MAL3<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | DBT              | CORP              | CA        |      4000 | PA      | $3965.70      | 0.00%             | 2029-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| OLYMPUS WATER US HOLDING CORP                         | OLYMPUS WATER US HOLDING CORP 2025 USD TERM LOAN B                               | CUSIP: 68163YAK1<br>LEI: 549300YU2GGVCBN3MY89 | Long             | LON              | CORP              | US        |     77000 | PA      | $76367.83     | 0.01%             | 2032-07-23      | Floating      | 7.39%                 | No            |                  2 | On Loan: No      |
| DAYFORCE INC                                          | Dayforce Inc 2025 Term Loan B                                                    | CUSIP: 23958CAD9<br>LEI: 549300T64GVCHFJ8L449 | Long             | LON              | CORP              | US        |    119527 | PA      | $119526.70    | 0.02%             | 2031-03-01      | Floating      | 6.31%                 | No            |                  3 | On Loan: No      |
| SGL GROUP APS                                         | SGL Group ApS                                                                    | CUSIP: 000000000<br>LEI: 636700YQKGLXCPPUYE74 | Long             | DBT              | CORP              | DK        |    100000 | PA      | $116368.87    | 0.02%             | 2030-04-22      | Floating      | 6.75%                 | No            |                  2 | On Loan: No      |
| Lumen Technologies Inc                                | Lumen Technologies Inc 2024 Extended Term Loan B2                                | CUSIP: 55024EAG0<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | LON              | CORP              | US        |     66637 | PA      | $66146.28     | 0.01%             | 2030-04-15      | Floating      | 6.63%                 | No            |                  2 | On Loan: No      |
| CLYDESDALE ACQUISITION                                | Clydesdale Acquisition Holdings Inc                                              | CUSIP: 18972EAC9<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |     58000 | PA      | $59496.93     | 0.01%             | 2030-01-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| DAVITA INC                                            | DaVita Inc                                                                       | CUSIP: 23918KAY4<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |     13000 | PA      | $13405.57     | 0.00%             | 2033-07-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Huckabee Acquisition LLC                              | Huckabee Acquisition LLC Term Loan                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     73081 | PA      | $73080.67     | 0.01%             | 2030-01-16      | Floating      | 9.31%                 | No            |                  3 | On Loan: No      |
| Barri Financial Group LLC                             | Barri Financial Group LLC 2022 Term Loan                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    390742 | PA      | $383708.70    | 0.07%             | 2027-12-14      | Floating      | 12.51%                | No            |                  3 | On Loan: No      |
| GRAY MEDIA INC                                        | Gray Media Inc                                                                   | CUSIP: 389375AP1<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |     37000 | PA      | $36665.25     | 0.01%             | 2033-08-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| AMNEAL PHARMACEUTICALS LLC                            | Amneal Pharmaceuticals LLC 2025 Term Loan B                                      | CUSIP: 03167DAR5<br>LEI: 54930037VIXE7LRZ1M66 | Long             | LON              | CORP              | US        |    108000 | PA      | $107819.64    | 0.02%             | 2032-08-01      | Floating      | 7.66%                 | No            |                  2 | On Loan: No      |
| SMYRNA READY MIX CONCRET                              | Smyrna Ready Mix Concrete LLC                                                    | CUSIP: 83283WAE3<br>LEI: 549300S7RFWHQFOIOY93 | Long             | DBT              | CORP              | US        |     18000 | PA      | $19006.97     | 0.00%             | 2031-11-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| BULLHORN INC                                          | Bullhorn Inc 2024 8th Amendment Delayed Draw Term Loan 1                         | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | Long             | LON              | CORP              | US        |    543560 | PA      | $539482.93    | 0.09%             | 2029-10-01      | Floating      | 9.16%                 | No            |                  3 | On Loan: No      |
| TELECOM ITALIA CAPITAL                                | Telecom Italia Capital SA                                                        | CUSIP: 87927VAV0<br>LEI: 549300777DJZOR5C4L39 | Long             | DBT              | CORP              | LU        |     77000 | PA      | $85300.00     | 0.01%             | 2038-06-04      | Fixed         | 7.72%                 | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                               | Frontier Communications Holdings LLC                                             | CUSIP: 35908MAE0<br>LEI: 549300ZCZ76HYCS0H445 | Long             | DBT              | CORP              | US        |     12000 | PA      | $12651.13     | 0.00%             | 2031-03-15      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| Aimco                                                 | Aimco CLO 11 Ltd                                                                 | CUSIP: 00140NBA7<br>LEI: 549300VLRW0CEQ83RF89 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1002822.30   | 0.17%             | 2037-07-17      | Floating      | 6.22%                 | No            |                  2 | On Loan: No      |
| INTRUM INV AND FIN                                    | Intrum Investments And Financing AB                                              | CUSIP: 000000000<br>LEI: 984500D7B1EFD7460452 | Long             | DBT              | CORP              | SE        |     61561 | PA      | $63284.34     | 0.01%             | 2029-09-11      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| MAYA SAS/FRANCE                                       | Maya SAS/Paris France                                                            | CUSIP: 000000000<br>LEI: 9695009PXA7OI9NXN582 | Long             | DBT              | CORP              | FR        |    100000 | PA      | $124710.50    | 0.02%             | 2031-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS SA                                        | SWAP/CDSWAP/SCDS: (ZEGLN)                                                        | CUSIP: 000000000<br>LEI: QHSFEYI7HUOXXZ413E03 | N/A              | DCR              |  | FR        |     40000 | OU      | $7253.85      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                | US 10YR ULTRA FUT DEC25                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        18 | NC      | $17873.84     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| BCP MODULAR SERVICES                                  | BCP V Modular Services Finance II PLC                                            | CUSIP: 000000000<br>LEI: 213800227GGD6UI7PI97 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $125557.55    | 0.02%             | 2028-11-30      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| HOMERENEW BUYER CLASS A 1                             | HOMERENEW BUYER CLASS A 1                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1568 | NS      | $238471.97    | 0.04%             |  |  |  | No            |                  3 | On Loan: No      |
| NISSAN MOTOR CO                                       | Nissan Motor Co Ltd                                                              | CUSIP: 000000000<br>LEI: 353800DRBDH1LUTNAY26 | Long             | DBT              | CORP              | JP        |    100000 | PA      | $120874.76    | 0.02%             | 2033-07-17      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| US ACUTE CARE SOLUTIONS                               | US Acute Care Solutions LLC                                                      | CUSIP: 90367UAD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     40000 | PA      | $40959.29     | 0.01%             | 2029-05-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| Waystar Technologies, Inc.                            | Waystar Technologies Inc 2025 Term Loan B                                        | CUSIP: 63939WAN3<br>LEI: 549300BIRBTAWWHCSZ09 | Long             | LON              | CORP              | US        |     69951 | PA      | $69921.70     | 0.01%             | 2029-10-22      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| Axalta Coating Systems U.S. Holdings, Inc.            | Axalta Coating Systems US Holdings Inc 2024 Term Loan B7                         | CUSIP: 90347BAP3<br>LEI: 549300NZ43V4QV4UGN28 | Long             | LON              | CORP              | US        |     75109 | PA      | $75335.88     | 0.01%             | 2029-12-20      | Floating      | 5.75%                 | No            |                  2 | On Loan: No      |
| BRIGHTLINE EAST LLC                                   | Brightline East LLC                                                              | CUSIP: 093536AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $123000.00    | 0.02%             | 2030-01-31      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| Alcami Corporation                                    | Alcami Corporation 2022 Term Loan                                                | CUSIP: 000000000<br>LEI: 549300N6RRHE77KDYX80 | Long             | LON              | CORP              | US        |     69274 | PA      | $69274.00     | 0.01%             | 2028-12-21      | Floating      | 11.35%                | No            |                  3 | 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        |     77000 | PA      | $79411.95     | 0.01%             | 2029-03-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| Keep Truckin Inc                                      | Keep Truckin Inc Delayed Draw Term Loan                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    988094 | PA      | $995998.49    | 0.17%             | 2027-04-08      | Floating      | 11.53%                | No            |                  3 | On Loan: No      |
| SCIENCE APPLICATIONS INT                              | Science Applications International Corp                                          | CUSIP: 808625AB3<br>LEI: 549300LZPNZIXQGZPZ48 | Long             | DBT              | CORP              | US        |     18000 | PA      | $18005.59     | 0.00%             | 2033-11-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Integrity Marketing Acquisition, LLC                  | Integrity Marketing Acquisition LLC 2024 Term Loan                               | CUSIP: 000000000<br>LEI: 254900P6AN86ES0J9460 | Long             | LON              | CORP              | US        |   1574158 | PA      | $1574158.21   | 0.27%             | 2028-08-25      | Floating      | 9.20%                 | No            |                  3 | On Loan: No      |
| MEDLINE BORROWER/MEDL CO                              | Medline Borrower LP/Medline Co-Issuer Inc                                        | CUSIP: 58506DAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      3000 | PA      | $3076.21      | 0.00%             | 2029-04-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| CITGO PETROLEUM CORP                                  | CITGO Petroleum Corp                                                             | CUSIP: 17302XAN6<br>LEI: YX52P86PXMLYDOTUQ225 | Long             | DBT              | CORP              | US        |     68000 | PA      | $70665.06     | 0.01%             | 2029-01-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Appriss Health LLC                                    | Appriss Health LLC Term Loan                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    690686 | PA      | $697592.67    | 0.12%             | 2027-05-06      | Floating      | 9.02%                 | No            |                  3 | On Loan: No      |
| BEAUTY HEALTH CO/THE                                  | Beauty Health Co/The                                                             | CUSIP: 88331LAC2<br>LEI: 5493001Z2JZQT4C63C50 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2700478.00   | 0.46%             | 2028-11-15      | Fixed         | 7.95%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                                 | Level 3 Financing Inc                                                            | CUSIP: 527298CD3<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |     30830 | PA      | $28170.91     | 0.00%             | 2030-04-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BREAD FINANCIAL HLDGS                                 | Bread Financial Holdings Inc                                                     | CUSIP: 018581AQ1<br>LEI: 549300G8S4PO686J7H97 | Long             | DBT              | CORP              | US        |      3000 | PA      | $3080.52      | 0.00%             | 2035-06-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| ITELYUM REGENERATION SPA                              | Itelyum Regeneration Spa                                                         | CUSIP: 000000000<br>LEI: 815600051FBC23AA8A45 | Long             | DBT              | CORP              | IT        |    100000 | PA      | $119447.14    | 0.02%             | 2030-04-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CAESARS ENTERTAIN INC                                 | Caesars Entertainment Inc                                                        | CUSIP: 12769GAB6<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |     85000 | PA      | $87431.63     | 0.01%             | 2030-02-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Project Alpha Intermediate Holding, Inc.              | Project Alpha Intermediate Holding Inc 2024 1st Lien Term Loan B                 | CUSIP: 74339DAN8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     42854 | PA      | $42951.73     | 0.01%             | 2030-10-26      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| Oxea Holding Drei GmbH                                | Oxea Holding Drei GmbH 2017 USD Term Loan B2                                     | CUSIP: 000000000<br>LEI: 529900MSP24R2FE9U796 | Long             | LON              | CORP              | US        |     73046 | PA      | $67079.94     | 0.01%             | 2031-04-08      | Floating      | 8.64%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                               | Goldman Sachs Group Inc/The                                                      | CUSIP: 38141GC28<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |     30000 | PA      | $31161.84     | 0.01%             | 2030-02-10      | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| Whitewater Matterhorn Holdings LLC                    | Whitewater Matterhorn Holdings LLC 2025 Term Loan B                              | CUSIP: 000000000<br>LEI: 2138009J7G187M6C4Q91 | Long             | LON              | CORP              | US        |     12000 | PA      | $11986.92     | 0.00%             | 2032-06-16      | Floating      | 6.25%                 | No            |                  2 | On Loan: No      |
| TKO Worldwide Holdings, LLC                           | TKO Worldwide Holdings LLC 2024 Term Loan B4                                     | CUSIP: 90266UAK9<br>LEI: 549300JEOTH7UMZ3C491 | Long             | LON              | CORP              | US        |    133367 | PA      | $133512.78    | 0.02%             | 2031-11-21      | Floating      | 6.46%                 | No            |                  2 | On Loan: No      |
| WEX INC                                               | WEX Inc 2024 Term Loan B2                                                        | CUSIP: 96208UAW1<br>LEI: T9M5IGROL1TL1G5OV478 | Long             | LON              | CORP              | US        |     14887 | PA      | $14863.26     | 0.00%             | 2028-03-31      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| ALLIANT HOLD / CO-ISSUER                              | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                   | CUSIP: 01883LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    165000 | PA      | $165355.41    | 0.03%             | 2027-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| MPLX LP                                               | MPLX LP                                                                          | CUSIP: 55336VBT6<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |    400000 | PA      | $341232.16    | 0.06%             | 2052-03-14      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| NAVIENT CORP                                          | Navient Corp                                                                     | CUSIP: 63938CAN8<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |     38000 | PA      | $42000.22     | 0.01%             | 2030-07-25      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC                                     | Herc Holdings Inc Term Loan B                                                    | CUSIP: 000000000<br>LEI: 549300TP80QLITMSBP82 | Long             | LON              | CORP              | US        |     15000 | PA      | $15056.25     | 0.00%             | 2032-06-02      | Floating      | 6.25%                 | No            |                  2 | On Loan: No      |
| Jeld-Wen Inc                                          | JELD-WEN Inc                                                                     | CUSIP: 475795AD2<br>LEI: 549300XWE6NM0N1HFW16 | Long             | DBT              | CORP              | US        |     23000 | PA      | $22444.71     | 0.00%             | 2027-12-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| PTSH Intermediate Holdings LLC                        | PTSH Intermediate Holdings LLC Delayed Draw Term Loan                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    465150 | PA      | $465149.99    | 0.08%             | 2027-12-17      | Floating      | 9.65%                 | No            |                  3 | On Loan: No      |
| LEVEL 3 FINANCING INC                                 | Level 3 Financing Inc                                                            | CUSIP: 527298CH4<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |      3403 | PA      | $2925.76      | 0.00%             | 2031-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                    | Energy Transfer LP                                                               | CUSIP: 29273VBC3<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |     21000 | PA      | $21736.41     | 0.00%             | 2054-10-01      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| PRIME HEALTHCARE SERVICE                              | Prime Healthcare Services Inc                                                    | CUSIP: 74165HAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      6000 | PA      | $6240.00      | 0.00%             | 2029-09-01      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| PLURALSIGHT INC                                       | Pluralsight Inc 2024 Term Loan                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    226724 | PA      | $226723.52    | 0.04%             | 2029-08-22      | Floating      | 7.20%                 | No            |                  3 | On Loan: No      |
| Smarsh, Inc.                                          | Smarsh Inc 2025 Term Loan                                                        | CUSIP: 000000000<br>LEI: 549300DEPB8M6RR0JB42 | Long             | LON              | CORP              | US        |   1714286 | PA      | $1714285.71   | 0.29%             | 2029-02-16      | Floating      | 8.75%                 | No            |                  3 | On Loan: No      |
| AMBER FINCO PLC                                       | Amber Finco PLC                                                                  | CUSIP: 000000000<br>LEI: 9845004C0870D380O790 | Long             | DBT              | CORP              | GB        |    265000 | PA      | $327007.85    | 0.06%             | 2029-07-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| VALARIS LTD                                           | Valaris Ltd                                                                      | CUSIP: 91889FAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |     54000 | PA      | $56043.59     | 0.01%             | 2030-04-30      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| CHAMBERLAIN GROUP INC                                 | CHAMBERLAIN GROUP INC 2025 TERM LOAN B                                           | CUSIP: 15963CAE6<br>LEI: 25490092IFNOZBRVE539 | Long             | LON              | CORP              | US        |    197035 | PA      | $197118.21    | 0.03%             | 2032-09-08      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| ASTON MARTIN CAPITAL HOL                              | Aston Martin Capital Holdings Ltd                                                | CUSIP: 000000000<br>LEI: 213800H4GKEF3CJ8C774 | Long             | DBT              | CORP              | JE        |    226000 | PA      | $295539.99    | 0.05%             | 2029-03-31      | Fixed         | 10.38%                | No            |                  2 | On Loan: No      |
| Celestica Inc                                         | Celestica Inc 2024 Term Loan B                                                   | CUSIP: 000000000<br>LEI: 549300J3CG5T6RZWLN53 | Long             | LON              | CORP              | CA        |     19750 | PA      | $19848.75     | 0.00%             | 2031-06-20      | Floating      | 5.92%                 | No            |                  3 | On Loan: No      |
| LA POSTE SA                                           | La Poste SA                                                                      | CUSIP: 000000000<br>LEI: 9695000YG7TR7PAP0L59 | Long             | DBT              | CORP              | FR        |    100000 | PA      | $121929.16    | 0.02%             | 2031-04-16      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VINGILHOLDING(SELLERX HOLDCO)                         | VINGILHOLDING(SELLERX HOLDCO)                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     79434 | NS      | $0.79         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| AGL CLO Ltd.                                          | AGL CLO 12 Ltd                                                                   | CUSIP: 00120BAE0<br>LEI: 54930005OE1IFBESDA27 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1001780.00   | 0.17%             | 2034-07-20      | Floating      | 6.19%                 | No            |                  2 | On Loan: No      |
| DIAMOND FRGN/DIAMOND FIN                              | Diamond Foreign Asset Co / Diamond Finance LLC                                   | CUSIP: 25260WAD3<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |     18000 | PA      | $19074.35     | 0.00%             | 2030-10-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Anchorage Capital CLO LTD                             | Anchorage Capital Clo 11 Ltd                                                     | CUSIP: 03330NAY0<br>LEI: 549300NPGT86ACOLIL14 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1007282.20   | 0.17%             | 2037-07-22      | Floating      | 6.73%                 | No            |                  2 | On Loan: No      |
| Truist Insurance Holdings LLC                         | Truist Insurance Holdings LLC 2024 Term Loan B                                   | CUSIP: 89788VAG7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    204492 | PA      | $204172.93    | 0.03%             | 2031-05-06      | Floating      | 6.75%                 | No            |                  2 | On Loan: No      |
| DTI HOLDCO INC                                        | DTI Holdco Inc 2025 Term Loan B                                                  | CUSIP: 23358EAK5<br>LEI: 549300QQVMUL3P8XVJ27 | Long             | LON              | CORP              | US        |   4863217 | PA      | $4313090.00   | 0.73%             | 2029-04-26      | Floating      | 8.16%                 | No            |                  2 | On Loan: No      |
| K HOVNANIAN ENTERPRISES                               | K Hovnanian Enterprises Inc                                                      | CUSIP: 48251UAP3<br>LEI: 549300JJCQ0KAI7CJG32 | Long             | DBT              | CORP              | US        |     20000 | PA      | $20508.66     | 0.00%             | 2031-04-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| SECRETARIAT ADVISORS LLC                              | Secretariat Advisors LLC 2025 Term Loan B                                        | CUSIP: 81368NAN5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1266476 | PA      | $1265690.40   | 0.22%             | 2032-02-28      | Floating      | 8.00%                 | No            |                  2 | On Loan: No      |
| BEEKEEPER BUYER INC                                   | Beekeeper Buyer Inc Term Loan                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3009066 | PA      | $2981983.99   | 0.51%             | 2031-06-30      | Floating      | 11.50%                | No            |                  3 | On Loan: No      |
| KODIAK GAS SERVICES LLC                               | Kodiak Gas Services LLC                                                          | CUSIP: 50012LAC8<br>LEI: 549300ZQBRWEUOVOM131 | Long             | DBT              | CORP              | US        |     33000 | PA      | $34242.95     | 0.01%             | 2029-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| RESEARCH NOW INC WARRANT                              | RESEARCH NOW INC WARRANT                                                         | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               |  | US        |      2857 | NS      | $357.13       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| STAR PARENT INC                                       | Star Parent Inc                                                                  | CUSIP: 855170AA4<br>LEI: 254900GRGCJYRMDRWT73 | Long             | DBT              | CORP              | US        |     90000 | PA      | $95147.37     | 0.02%             | 2030-10-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Gulfside Supply Inc                                   | Gulfside Supply Inc Term Loan B                                                  | CUSIP: 40273UAE9<br>LEI: 5493009BEGVKVXE2HW08 | Long             | LON              | CORP              | US        |     24074 | PA      | $24078.41     | 0.00%             | 2031-06-17      | Floating      | 7.00%                 | No            |                  2 | On Loan: No      |
| STAR HOLDING LLC                                      | Star Holding LLC                                                                 | CUSIP: 85513AAA6<br>LEI: 254900BDGPE9N1WAKD59 | Long             | DBT              | CORP              | US        |     19000 | PA      | $18851.88     | 0.00%             | 2031-08-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SRI LANKA                                 | Sri Lanka Government International Bond                                          | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |    124852 | PA      | $91079.53     | 0.02%             | 2035-06-15      | Variable      | 3.60%                 | No            |                  2 | On Loan: No      |
| PINNACLE BUYER LLC                                    | PINNACLE BUYER LLC DELAYED DRAW TERM LOAN                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      8329 | PA      | $8339.78      | 0.00%             | 2032-09-10      | Floating      | 6.63%                 | No            |                  2 | On Loan: No      |
| Element Materials Technology Group US Holdings Inc    | Element Materials Technology Group US Holdings Inc 2022 USD Term Loan            | CUSIP: 000000000<br>LEI: 213800EGOJGGUKUGEZ30 | Long             | LON              | CORP              | US        |     31489 | PA      | $31656.46     | 0.01%             | 2029-07-06      | Floating      | 7.68%                 | No            |                  2 | On Loan: No      |
| DRAKE SOFTWARE LLC                                    | Drake Software LLC 2024 Term Loan B                                              | CUSIP: 23344UAF7<br>LEI: 25490030X7DBAF7KCR65 | Long             | LON              | CORP              | US        |     31177 | PA      | $31124.76     | 0.01%             | 2031-06-26      | Floating      | 8.41%                 | No            |                  2 | On Loan: No      |
| CRESCENT ENERGY FINANCE                               | Crescent Energy Finance LLC                                                      | CUSIP: 45344LAE3<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |     42000 | PA      | $40893.91     | 0.01%             | 2033-01-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Mavis Tire Express Services Corp.                     | Mavis Tire Express Services Corp 2025 Repriced Term Loan                         | CUSIP: 57777YAG1<br>LEI: 254900NVDM4GTLBL9E56 | Long             | LON              | CORP              | US        |    156003 | PA      | $155912.35    | 0.03%             | 2028-05-04      | Floating      | 7.20%                 | No            |                  2 | On Loan: No      |
| DANA INC                                              | Dana Inc                                                                         | CUSIP: 235825AJ5<br>LEI: KVWHW7YLZPFJM8QYNJ51 | Long             | DBT              | CORP              | US        |      8000 | PA      | $7877.29      | 0.00%             | 2032-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| LUMEN TECHNOLOGIES INC                                | Lumen Technologies Inc                                                           | CUSIP: 550241AB9<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |     19467 | PA      | $19087.00     | 0.00%             | 2029-04-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| MPT OPER PARTNERSP/FINL                               | MPT Operating Partnership LP / MPT Finance Corp                                  | CUSIP: 55342UAQ7<br>LEI: N/A                  | Long             | DBT              |  | US        |     73000 | PA      | $77567.03     | 0.01%             | 2032-02-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| EIRCOM FINANCE DAC                                    | eircom Finance DAC                                                               | CUSIP: 000000000<br>LEI: 254900NA4DUH50UERM85 | Long             | DBT              | CORP              | IE        |    200000 | PA      | $240509.67    | 0.04%             | 2031-04-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHEMOURS CO                                           | Chemours Co/The                                                                  | CUSIP: 163851AF5<br>LEI: 549300M1BOLNXL8DOV14 | Long             | DBT              | CORP              | US        |     15000 | PA      | $14630.62     | 0.00%             | 2028-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Entegris Inc                                          | Entegris Inc 2023 Term Loan B                                                    | CUSIP: 29362LAM6<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | LON              | CORP              | US        |     28272 | PA      | $28441.88     | 0.00%             | 2029-07-06      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| Streamland Media Holdings LLC                         | Streamland Media Holdings LLC                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       264 | NS      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| BAUSCH HEALTH COS INC                                 | Bausch Health Cos Inc                                                            | CUSIP: 071734AQ0<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |    103000 | PA      | $107121.97    | 0.02%             | 2028-09-30      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| QUIKRETE HOLDINGS INC                                 | Quikrete Holdings Inc 2025 Term Loan B1                                          | CUSIP: 74839XAM1<br>LEI: 5493007KIN86DIZWZT22 | Long             | LON              | CORP              | US        |     91035 | PA      | $90982.68     | 0.02%             | 2031-04-14      | Floating      | 6.41%                 | No            |                  2 | On Loan: No      |
| LIGADO NETWORKS LLC                                   | Ligado Networks LLC                                                              | CUSIP: 53225HAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3724698 | PA      | $1219838.60   | 0.21%             | 2023-11-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MAUSER PACKAGING SOLUT                                | Mauser Packaging Solutions Holding Co                                            | CUSIP: 57763RAC1<br>LEI: 549300DNGHXL0OMHW304 | Long             | DBT              | CORP              | US        |     20000 | PA      | $20045.76     | 0.00%             | 2027-04-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| SAN MIGUEL GLOBAL POWER                               | San Miguel Global Power Holdings Corp                                            | CUSIP: 000000000<br>LEI: 549300HBCE80QXKII590 | Long             | DBT              | CORP              | PH        |    200000 | PA      | $205000.00    | 0.03%             | 2029-06-12      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Trulite Holding Corp                                  | Trulite Holding Corp Term Loan                                                   | CUSIP: 89789MAB7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4036458 | PA      | $4016276.03   | 0.68%             | 2030-03-01      | Floating      | 10.29%                | No            |                  3 | On Loan: No      |
| Packers Holdings LLC                                  | Packers Holdings LLC 2021 Term Loan                                              | CUSIP: 69519UAF9<br>LEI: 549300X0L6OJNRPME518 | Long             | LON              | CORP              | US        |     52437 | PA      | $16360.34     | 0.00%             | 2028-03-09      | Floating      | 7.66%                 | No            |                  2 | On Loan: No      |
| AROUNDTOWN FINANCE SARL                               | Aroundtown Finance Sarl                                                          | CUSIP: 000000000<br>LEI: 8945006LEXV2KWSWVP51 | Long             | DBT              | CORP              | LU        |    388000 | PA      | $480364.11    | 0.08%             | 2030-01-16      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| FORTUNE STAR BVI LTD                                  | Fortune Star BVI Ltd                                                             | CUSIP: 000000000<br>LEI: 2549008CU8NYQQRSNU62 | Long             | DBT              | CORP              | VG        |    200000 | PA      | $232339.93    | 0.04%             | 2026-10-02      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| ASHTON WOODS USA/FINANCE                              | Ashton Woods USA LLC / Ashton Woods Finance Co                                   | CUSIP: 045086AR6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     11000 | PA      | $11094.35     | 0.00%             | 2033-08-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Zilliant Incorporated                                 | Zilliant Inc Delayed Draw Term Loan                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    324980 | PA      | $311005.45    | 0.05%             | 2027-12-21      | Floating      | 6.26%                 | No            |                  3 | On Loan: No      |
| DEMIRE REAL ESTATE AG                                 | DEMIRE Deutsche Mittelstand Real Estate AG                                       | CUSIP: 000000000<br>LEI: 391200FHEFGXUKL2BO93 | Long             | DBT              | CORP              | DE        |     88076 | PA      | $97264.94     | 0.02%             | 2027-12-31      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW GOLD INC                                          | New Gold Inc                                                                     | CUSIP: 644535AJ5<br>LEI: 5493005G0GNCHP0H6L96 | Long             | DBT              | CORP              | CA        |     22000 | PA      | $23043.31     | 0.00%             | 2032-04-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| SCIL IV LLC / SCIL USA H                              | SCIL IV LLC / SCIL USA Holdings LLC                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $616053.75    | 0.10%             | 2028-07-15      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| HEARTHSIDE EQUITY                                     | HEARTHSIDE EQUITY                                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       671 | NS      | $12869.11     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Pueblo Mechanical and Controls LLC                    | Pueblo Mechanical and Controls LLC 2022 Delayed Draw Term Loan                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    487812 | PA      | $482426.35    | 0.08%             | 2028-08-23      | Floating      | 9.00%                 | No            |                  3 | On Loan: No      |
| ADANI TRANS STEP-ONE LTD                              | Adani Transmission Step-One Ltd                                                  | CUSIP: 000000000<br>LEI: 335800Z8CGS7O7D72N41 | Long             | DBT              | CORP              | IN        |    200000 | PA      | $198000.00    | 0.03%             | 2026-08-03      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WAND NEWCO 3 INC                                      | Wand NewCo 3 Inc 2025 Repriced Term Loan B                                       | CUSIP: 93369PAM6<br>LEI: 549300Y3VZEWMSQW8494 | Long             | LON              | CORP              | US        |    102888 | PA      | $102482.72    | 0.02%             | 2031-01-30      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| HOWDEN GROUP HOLDINGS LTD                             | Howden Group Holdings Ltd 2025 USD Term Loan B                                   | CUSIP: 000000000<br>LEI: 213800R6D9EVRN5D3117 | Long             | LON              | CORP              | LU        |     99770 | PA      | $99750.65     | 0.02%             | 2031-02-15      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| ESO Solutions Inc                                     | ESO Solutions Inc Revolver                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    303681 | PA      | $302466.11    | 0.05%             | 2027-05-03      | Floating      | 10.96%                | No            |                  3 | On Loan: No      |
| Elastic Path Software Inc                             | Elastic Path Software Inc Term Loan                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | CA        |   1342496 | PA      | $1342496.10   | 0.23%             | 2026-01-05      | Floating      | 12.04%                | No            |                  3 | On Loan: No      |
| VERITIV OPERATING CO                                  | Veritiv Operating Co                                                             | CUSIP: 92339LAA0<br>LEI: 5493004G8OK5L1UTIY12 | Long             | DBT              | CORP              | US        |     12000 | PA      | $12878.74     | 0.00%             | 2030-11-30      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| CALIFORNIA BUYER/ATLANTI                              | California Buyer Ltd / Atlantica Sustainable Infrastructure PLC                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |    182000 | PA      | $222374.01    | 0.04%             | 2032-02-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| HOMERENEW BUYER CLASS B 1                             | HOMERENEW BUYER CLASS B 1                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | GB        |      2520 | NS      | $0.03         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| BlackRock Liquidity Funds                             | BlackRock Liquidity Funds: T-Fund, Institutional Shares                          | CUSIP: 09248U718<br>LEI: 5493007YVNX55LTRQ706 | Long             | STIV             | RF                | US        |  15494966 | NS      | $15494966.46  | 2.64%             |  |  |  | No            |                  1 | On Loan: No      |
| LES SCHWAB TIRE CENTERS                               | Les Schwab Tire Centers 2025 Term Loan B                                         | CUSIP: 50220KAD6<br>LEI: 549300GJM1TKHPYFPF83 | Long             | LON              | CORP              | US        |     48635 | PA      | $48483.05     | 0.01%             | 2031-04-23      | Floating      | 6.70%                 | No            |                  2 | On Loan: No      |
| Brown Group Holding LLC                               | Brown Group Holding LLC 2022 Incremental Term Loan B2                            | CUSIP: 11565HAD8<br>LEI: 25490094PF4HHK9QS109 | Long             | LON              | CORP              | US        |     62473 | PA      | $62574.82     | 0.01%             | 2031-07-01      | Floating      | 7.06%                 | No            |                  2 | On Loan: No      |
| Ellucian Holdings, Inc.                               | Ellucian Holdings Inc 2024 2nd Lien Term Loan                                    | CUSIP: 28917XAE0<br>LEI: 549300RP8NIJ7FY7OS79 | Long             | LON              | CORP              | US        |     26000 | PA      | $26541.58     | 0.00%             | 2032-11-22      | Floating      | 8.91%                 | No            |                  2 | On Loan: No      |
| Wealth Enhancement Group LLC                          | Wealth Enhancement Group LLC 2021 August Delayed Draw Term Loan                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1167339 | PA      | $1161695.95   | 0.20%             | 2028-10-02      | Floating      | 8.80%                 | No            |                  3 | On Loan: No      |
| KRONOS INTERNATIONAL INC                              | Kronos International Inc                                                         | CUSIP: 000000000<br>LEI: 529900NTVDLUSYY9F493 | Long             | DBT              | CORP              | US        |    257000 | PA      | $317970.31    | 0.05%             | 2029-03-15      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| FWD GROUP HOLDINGS LTD                                | FWD Group Holdings Ltd                                                           | CUSIP: 000000000<br>LEI: 254900HEGGDS8WU5QZ97 | Long             | DBT              | CORP              | KY        |    475000 | PA      | $480678.63    | 0.08%             | 2035-09-22      | Fixed         | 5.84%                 | No            |                  2 | On Loan: No      |
| CAMELOT FINANCE SA                                    | Camelot Finance SA                                                               | CUSIP: 13323AAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |      2000 | PA      | $1993.14      | 0.00%             | 2026-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GETTY IMAGES INC                                      | Getty Images Inc                                                                 | CUSIP: 374276AM5<br>LEI: 5493005NV20IG4VEKZ40 | Long             | DBT              | CORP              | US        |     20000 | PA      | $19098.60     | 0.00%             | 2030-02-21      | Fixed         | 11.25%                | No            |                  2 | On Loan: No      |
| XPLR INFRASTRUCTURE LP                                | XPLR Infrastructure LP                                                           | CUSIP: 65341BAD8<br>LEI: 5493008F4ZOQFNG3WN54 | Long             | DBT              | CORP              | US        |     37000 | PA      | $36722.50     | 0.01%             | 2025-11-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CAPITAL CORP II                              | Blue Owl Capital Corp II                                                         | CUSIP: 69121DAD2<br>LEI: 549300MMNWZO5XKDDX47 | Long             | DBT              | CORP              | US        |     11000 | PA      | $11395.55     | 0.00%             | 2026-11-15      | Fixed         | 8.45%                 | No            |                  2 | On Loan: No      |
| SUMMIT ACQUISITION INC                                | Summit Acquisition Inc 2025 Add-on Term Loan                                     | CUSIP: 86600DAH7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      8000 | PA      | $8023.36      | 0.00%             | 2031-10-16      | Floating      | 7.66%                 | No            |                  2 | On Loan: No      |
| SPX FLOW INC                                          | SPX Flow Inc 2025 Term Loan                                                      | CUSIP: 78470DAW8<br>LEI: 5493003YXEKRBINIEM78 | Long             | LON              | CORP              | US        |    133963 | PA      | $134465.53    | 0.02%             | 2029-04-05      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| BERTRAND FRANCHISE                                    | Bertrand Franchise Finance SAS                                                   | CUSIP: 000000000<br>LEI: 969500HGPPEHSTNJFW57 | Long             | DBT              | CORP              | FR        |    100000 | PA      | $112254.81    | 0.02%             | 2030-07-18      | Floating      | 5.77%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CAPITAL CORP                                 | Blue Owl Capital Corp                                                            | CUSIP: 69121KAJ3<br>LEI: 2549000BD79OOCPF2L94 | Long             | DBT              | CORP              | US        |     35000 | PA      | $35990.55     | 0.01%             | 2030-07-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| INH Buyer Inc                                         | INH Buyer Inc 2021 Term Loan                                                     | CUSIP: 44988TAB6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3297854 | PA      | $873931.32    | 0.15%             | 2028-06-28      | Floating      | 12.45%                | No            |                  3 | On Loan: No      |
| OCP CLO Ltd                                           | OCP Clo 2019-17 Ltd                                                              | CUSIP: 67113LBA3<br>LEI: 2549003HLFPQ7ATPYA23 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1004352.60   | 0.17%             | 2037-07-20      | Floating      | 6.33%                 | No            |                  2 | On Loan: No      |
| EUROPEAN TOPSOHO SARL                                 | European TopSoho Sarl                                                            | CUSIP: 000000000<br>LEI: 222100WPZ89Z7MJRFX19 | Long             | DBT              | CORP              | LU        |    300000 | PA      | $286048.76    | 0.05%             | 2021-09-21      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| STANDARD CHARTERED PLC                                | Standard Chartered PLC                                                           | CUSIP: 000000000<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |    400000 | PA      | $428173.16    | 0.07%             | 2030-03-08      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Virgin Media Bristol LLC                              | Virgin Media Bristol LLC 2020 USD Term Loan Q                                    | CUSIP: 000000000<br>LEI: 213800IQ982XX69LE276 | Long             | LON              | CORP              | US        |     78000 | PA      | $77925.12     | 0.01%             | 2029-01-31      | Floating      | 7.51%                 | No            |                  2 | On Loan: No      |
| SOTERA HEALTH HOLDINGS LLC                            | SOTERA HEALTH HOLDINGS LLC 2025 TERM LOAN B                                      | CUSIP: 83600VAH4<br>LEI: 549300OVT7MBXFLOFU20 | Long             | LON              | CORP              | US        |     98995 | PA      | $99036.60     | 0.02%             | 2031-05-30      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| PCF GMBH                                              | PCF GmbH                                                                         | CUSIP: 000000000<br>LEI: 5299001ZMR76CCHGY076 | Long             | DBT              | CORP              | DE        |    171000 | PA      | $154987.18    | 0.03%             | 2029-04-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Associated Materials Inc                              | Associated Materials Inc 2022 Term Loan B                                        | CUSIP: 88607CAB1<br>LEI: 254900KM84WNG9539P42 | Long             | LON              | CORP              | US        |     18068 | PA      | $16656.63     | 0.00%             | 2029-03-08      | Floating      | 10.16%                | No            |                  2 | On Loan: No      |
| Greystone Affordable Housing Initiatives LLC          | Greystone Affordable Housing Initiatives LLC 2022 Term Loan                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1636364 | PA      | $1626965.20   | 0.28%             | 2027-03-08      | Floating      | 10.78%                | No            |                  3 | On Loan: No      |
| FIVE POINT OPERATING CO                               | Five Point Operating Co LP                                                       | CUSIP: 33834YAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      5000 | PA      | $5073.86      | 0.00%             | 2030-10-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| RAZOR GROUP GMBH WARRANT                              | RAZOR GROUP GMBH WARRANT                                                         | CUSIP: 000000000<br>LEI: 984500A70HT9566EC150 | N/A              | DE               |  | DE        |        14 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| VF Corp.                                              | VF Corp.                                                                         | CUSIP: 000000000<br>LEI: CWAJJ9DJ5Z7P057HV541 | Long             | DBT              | CORP              | US        |    100000 | PA      | $117609.48    | 0.02%             | 2029-03-07      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| TMK HAWK PARENT CORP                                  | TMK Hawk Parent Corp 2024 Term Loan B                                            | CUSIP: 87258WAV7<br>LEI: 5493005BF4TIZRN1TY89 | Long             | LON              | CORP              | US        |     42261 | PA      | $14897.01     | 0.00%             | 2029-06-30      | Floating      | 9.41%                 | No            |                  2 | On Loan: No      |
| Skopima Merger Sub Inc                                | Skopima Merger Sub Inc 2024 Repriced Term Loan                                   | CUSIP: 36171NAG1<br>LEI: 254900K3R60UMIODZD21 | Long             | LON              | CORP              | US        |     42702 | PA      | $36057.04     | 0.01%             | 2028-05-12      | Floating      | 7.91%                 | No            |                  2 | On Loan: No      |
| AMYNTA AGENCY BORROWER INC                            | Amynta Agency Borrower Inc 2025 Term Loan B                                      | CUSIP: 57810JAM0<br>LEI: 5493000GP6HBRVTWBO85 | Long             | LON              | CORP              | US        |    108383 | PA      | $107937.25    | 0.02%             | 2031-12-29      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| NEW FORTRESS ENERGY INC                               | New Fortress Energy Inc 2025 Incremental Term Loan B                             | CUSIP: 64439HAC3<br>LEI: 254900EICTYTCHA5X705 | Long             | LON              | CORP              | US        |         0 | PA      | $0.00         | 0.00%             | 2028-10-30      | Floating      | 9.57%                 | No            |                  2 | On Loan: No      |
| Herschend Entertainment Company, LLC                  | Herschend Entertainment Company LLC 2025 Term Loan B                             | CUSIP: 42778EAG6<br>LEI: 54930087KQ7RPDXK0716 | Long             | LON              | CORP              | US        |     45885 | PA      | $46009.35     | 0.01%             | 2032-05-27      | Floating      | 7.41%                 | No            |                  2 | On Loan: No      |
| EQUIPMENTSHARE.COM INC                                | EquipmentShare.com Inc                                                           | CUSIP: 29450YAC3<br>LEI: 254900PWJK48CGPKPI80 | Long             | DBT              | CORP              | US        |     10000 | PA      | $10687.42     | 0.00%             | 2033-03-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Calpine Corporation                                   | Calpine Corporation 2024 Term Loan B10                                           | CUSIP: 13134MBW2<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | LON              | CORP              | US        |     36865 | PA      | $36821.50     | 0.01%             | 2031-01-31      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| PLAYPOWER INC                                         | Playpower Inc 2025 Incremental Term Loan                                         | CUSIP: 000000000<br>LEI: 549300SUBBD4NQQD2G45 | Long             | LON              | CORP              | US        |    631294 | PA      | $624980.97    | 0.11%             | 2030-08-28      | Floating      | 9.25%                 | No            |                  3 | On Loan: No      |
| RAZOR GROUP GMBH CLASS A                              | RAZOR GROUP GMBH CLASS A                                                         | CUSIP: 000000000<br>LEI: 984500A70HT9566EC150 | Long             | EP               | CORP              | US        |   3182164 | NS      | $31.82        | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Caesars Entertainment Inc                             | Caesars Entertainment Inc Term Loan B                                            | CUSIP: 12768EAG1<br>LEI: 549300FA4CTCW903Y781 | Long             | LON              | CORP              | US        |     26895 | PA      | $26803.83     | 0.00%             | 2030-02-06      | Floating      | 6.41%                 | No            |                  2 | On Loan: No      |
| NEW HOME CO INC/THE                                   | New Home Co Inc/The                                                              | CUSIP: 645370AF4<br>LEI: 549300PLCE8TB3TVRQ85 | Long             | DBT              | CORP              | US        |     13000 | PA      | $13650.44     | 0.00%             | 2029-10-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| ITHACA ENERGY NORTH                                   | Ithaca Energy North Sea PLC                                                      | CUSIP: 000000000<br>LEI: 213800BMMUN3AKWBIO91 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $118431.49    | 0.02%             | 2031-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Weber-Stephen Products LLC                            | Weber-Stephen Products LLC Term Loan B                                           | CUSIP: 94767KAN1<br>LEI: 549300XU8TJBBGLK8V26 | Long             | LON              | CORP              | US        |     41888 | PA      | $41417.25     | 0.01%             | 2027-10-30      | Floating      | 7.53%                 | No            |                  2 | On Loan: No      |
| MADISON IAQ LLC                                       | Madison IAQ LLC                                                                  | CUSIP: 55760LAB3<br>LEI: 549300IXDNBXNHUPBU73 | Long             | DBT              | CORP              | US        |     61000 | PA      | $60261.91     | 0.01%             | 2029-06-30      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| GENESIS ENERGY LP/FIN                                 | Genesis Energy LP / Genesis Energy Finance Corp                                  | CUSIP: 37185LAR3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     15000 | PA      | $15689.23     | 0.00%             | 2033-05-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Live Nation Entertainment Inc                         | Live Nation Entertainment Inc Term Loan B4                                       | CUSIP: 53803HAM2<br>LEI: 5493007B9BM9ZXJINO78 | Long             | LON              | CORP              | US        |     78222 | PA      | $78050.68     | 0.01%             | 2026-10-19      | Floating      | 5.99%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                                 | Venture Global Plaquemines LNG LLC                                               | CUSIP: 922966AD8<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |     69000 | PA      | $73290.21     | 0.01%             | 2036-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Galaxy CLO Ltd                                        | Galaxy Xxiv Clo Ltd                                                              | CUSIP: 36321BAL5<br>LEI: 6354006LLTU5DRVJLQ86 | Long             | ABS-CBDO         | CORP              | KY        |   1106000 | PA      | $1113840.77   | 0.19%             | 2037-04-15      | Floating      | 6.77%                 | No            |                  2 | On Loan: No      |
| Gainwell Acquisition Corp                             | Gainwell Acquisition Corp 2nd Lien Term Loan                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    993802 | PA      | $973230.30    | 0.17%             | 2028-10-02      | Floating      | 12.39%                | No            |                  3 | On Loan: No      |
| OPTION CARE HEALTH INC                                | OPTION CARE HEALTH INC 2025 TERM LOAN B                                          | CUSIP: 68404YAD6<br>LEI: 549300DI3Q5ACSYJRI17 | Long             | LON              | CORP              | US        |     79621 | PA      | $79487.68     | 0.01%             | 2032-09-16      | Floating      | 5.89%                 | No            |                  2 | On Loan: No      |
| AMERICAN AXLE & MFG INC                               | American Axle & Manufacturing Inc                                                | CUSIP: 02406PBD1<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | DBT              | CORP              | US        |     10000 | PA      | $10077.96     | 0.00%             | 2033-10-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Elmwood CLO 37 Ltd                                    | Elmwood CLO 37 Ltd                                                               | CUSIP: 29004UAJ7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1004512.70   | 0.17%             | 2038-01-17      | Floating      | 6.92%                 | No            |                  2 | On Loan: No      |
| ARDAGH PKG FIN/HLDGS USA                              | Ardagh Packaging Finance PLC / Ardagh Holdings USA Inc                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    142000 | PA      | $162119.02    | 0.03%             | 2026-08-15      | Fixed         | 2.13%                 | No            |                  2 | On Loan: No      |
| Medical Solutions Holdings Inc                        | Medical Solutions Holdings Inc 2021 2nd Lien Term Loan                           | CUSIP: 58462QAM3<br>LEI: 549300JH2XHZ7TIKYR39 | Long             | LON              | CORP              | US        |     80000 | PA      | $16133.60     | 0.00%             | 2029-11-01      | Floating      | 11.41%                | No            |                  2 | On Loan: No      |
| ELECTRICITE DE FRANCE SA                              | Electricite de France SA                                                         | CUSIP: 000000000<br>LEI: 549300X3UK4GG3FNMO06 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $349573.58    | 0.06%             | 2031-01-06      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Oak Purchaser Inc                                     | Oak Purchaser Inc Term Loan                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2158730 | PA      | $2176000.00   | 0.37%             | 2028-05-31      | Floating      | 9.37%                 | No            |                  3 | On Loan: No      |
| HDFC BANK LTD                                         | HDFC Bank Ltd                                                                    | CUSIP: 000000000<br>LEI: 335800ZQ6I4E2JXENC50 | Long             | DBT              | CORP              | IN        |    200000 | PA      | $196400.00    | 0.03%             | 2026-08-25      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| CoreLogic Inc                                         | CoreLogic Inc 2nd Lien Term Loan                                                 | CUSIP: 000000000<br>LEI: 54930086CD8K2UIL0516 | Long             | LON              | CORP              | US        |     30000 | PA      | $29765.30     | 0.01%             | 2029-06-04      | Floating      | 10.78%                | No            |                  2 | On Loan: No      |
| PENNYMAC FIN SVCS INC                                 | PennyMac Financial Services Inc                                                  | CUSIP: 70932MAG2<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |     22000 | PA      | $22796.33     | 0.00%             | 2032-05-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Ring Container Technologies Group, LLC                | RING CONTAINR TECHNO GROUP LLC 2025 TERM LOAN B                                  | CUSIP: 76680YAJ1<br>LEI: 254900MFUG4RPN6Y4A98 | Long             | LON              | CORP              | US        |     26000 | PA      | $25948.00     | 0.00%             | 2032-09-15      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| ABG Intermediate Holdings 2 LLC                       | ABG Intermediate Holdings 2 LLC 2024 1st Lien Term Loan B                        | CUSIP: 00076VBL3<br>LEI: 54930020NXD0RJB64985 | Long             | LON              | CORP              | US        |     63362 | PA      | $63193.45     | 0.01%             | 2028-12-21      | Floating      | 6.41%                 | No            |                  2 | On Loan: No      |
| LUNE HOLDINGS SARL                                    | Lune Holdings Sarl                                                               | CUSIP: 000000000<br>LEI: 54930003WQ56T0558M33 | Long             | DBT              | CORP              | LU        |    102000 | PA      | $36989.78     | 0.01%             | 2028-11-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| ATOS SE                                               | Atos SE                                                                          | CUSIP: 000000000<br>LEI: 5493001EZOOA66PTBR68 | Long             | SN               | CORP              | FR        |    228624 | PA      | $308790.15    | 0.05%             | 2029-12-18      | Variable      | 9.00%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC                | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | US        |         1 | NC      | $34107.01     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Froneri Lux Finco Sarl                                | Froneri Lux Finco Sarl 2024 USD Term Loan B4                                     | CUSIP: 000000000<br>LEI: 9845005YBZ75E5AA3B94 | Long             | LON              | CORP              | US        |    158731 | PA      | $157441.76    | 0.03%             | 2031-09-30      | Floating      | 6.20%                 | No            |                  2 | On Loan: No      |
| FREEDOM MORTGAGE HOLD                                 | Freedom Mortgage Holdings LLC                                                    | CUSIP: 35641AAC2<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |     10000 | PA      | $10481.50     | 0.00%             | 2032-04-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| DNANEXUS INC                                          | DNAnexus Inc 2024 Term Loan                                                      | CUSIP: 000000000<br>LEI: 2549004EZ089NLG8KF78 | Long             | LON              | CORP              | US        |     25000 | PA      | $24750.00     | 0.00%             | 2029-12-18      | Floating      | 9.39%                 | No            |                  3 | On Loan: No      |
| Sonny's Enterprises LLC                               | Sonny's Enterprises LLC 2024 1st Amendment Delayed Draw Term Loan                | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     93227 | PA      | $89124.78     | 0.02%             | 2028-08-05      | Floating      | 9.96%                 | No            |                  3 | On Loan: No      |
| Chicago Board of Trade                                | US ULTRA BOND CBT DEC25                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |       -19 | NC      | $-71003.38    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| UNIVISION COMMUNICATIONS                              | Univision Communications Inc                                                     | CUSIP: 914906AY8<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |     66000 | PA      | $68390.52     | 0.01%             | 2028-08-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| SOFTBANK GROUP CORP                                   | SoftBank Group Corp                                                              | CUSIP: 000000000<br>LEI: 5493003BZYYYCDIO0R13 | Long             | DBT              | CORP              | JP        |    175000 | PA      | $212835.27    | 0.04%             | 2029-01-08      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| NIDDA HEALTHCARE HOLDING                              | Nidda Healthcare Holding GmbH                                                    | CUSIP: 000000000<br>LEI: 549300Q89C4WAO6L0L19 | Long             | DBT              | CORP              | DE        |    100000 | PA      | $117615.17    | 0.02%             | 2030-10-23      | Floating      | 5.79%                 | No            |                  2 | On Loan: No      |
| Constellation Renewables, LLC                         | Constellation Renewables LLC 2020 Term Loan                                      | CUSIP: 30204KAD8<br>LEI: 5493004JBPWTPTK8LB51 | Long             | LON              | CORP              | US        |     18938 | PA      | $18890.93     | 0.00%             | 2027-12-15      | Floating      | 6.45%                 | No            |                  2 | On Loan: No      |
| WEST TECHNOLOGY GRP LLC                               | West Technology Group LLC                                                        | CUSIP: 956187AA6<br>LEI: 5493005Z5DB0O5S30R71 | Long             | DBT              | CORP              | US        |    457000 | PA      | $32561.25     | 0.01%             | 2027-04-10      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| WAND NEWCO 3 INC                                      | Wand NewCo 3 Inc                                                                 | CUSIP: 933940AA6<br>LEI: 549300Y3VZEWMSQW8494 | Long             | DBT              | CORP              | US        |     57000 | PA      | $60056.34     | 0.01%             | 2032-01-30      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| KODIAK GAS SERVICES LLC                               | Kodiak Gas Services LLC                                                          | CUSIP: 50012LAD6<br>LEI: 549300ZQBRWEUOVOM131 | Long             | DBT              | CORP              | US        |     18000 | PA      | $18327.17     | 0.00%             | 2033-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| RESIDEO FUNDING INC                                   | Resideo Funding Inc 2025 Incremental Term Loan                                   | CUSIP: 76090LAM6<br>LEI: 5493000IFJ6XJKH66598 | Long             | LON              | CORP              | US        |     50000 | PA      | $49969.00     | 0.01%             | 2032-08-13      | Floating      | 6.04%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                         | TransDigm Inc                                                                    | CUSIP: 893647BZ9<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |     15000 | PA      | $15426.28     | 0.00%             | 2034-01-31      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| QUIDELORTHO CORP                                      | QUIDELORTHO CORP TERM LOAN                                                       | CUSIP: 74840YAH7<br>LEI: 549300YU8CMO9HF53113 | Long             | LON              | CORP              | US        |     36000 | PA      | $35790.12     | 0.01%             | 2032-08-20      | Floating      | 8.00%                 | No            |                  2 | On Loan: No      |
| Endo Luxembourg Finance Company I S.a r.l.            | Endo Luxembourg Finance Company I Sa rl 2024 1st Lien Term Loan                  | CUSIP: 29280UAD5<br>LEI: 222100B15VY0VVCTG251 | Long             | LON              | CORP              | US        |     30000 | PA      | $30043.80     | 0.01%             | 2031-04-23      | Floating      | 8.17%                 | No            |                  2 | On Loan: No      |
| Clydesdale Acquisition Holdings Inc                   | Clydesdale Acquisition Holdings Inc Term Loan B                                  | CUSIP: 18972FAC6<br>LEI: 254900QKSDYFR3K5YD98 | Long             | LON              | CORP              | US        |     10000 | PA      | $9983.10      | 0.00%             | 2029-04-13      | Floating      | 7.34%                 | No            |                  2 | On Loan: No      |
| Element Solutions Inc                                 | Element Solutions Inc 2023 Term Loan B                                           | CUSIP: 72766TAH2<br>LEI: 549300FLGN6P5CU20J91 | Long             | LON              | CORP              | US        |     70198 | PA      | $70578.00     | 0.01%             | 2030-12-18      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| BROOKFIELD FINANCE INC                                | Brookfield Finance Inc                                                           | CUSIP: 11271LAN2<br>LEI: 549300XH8D8K6OYWGD17 | Long             | DBT              | CORP              | CA        |     45000 | PA      | $44616.06     | 0.01%             | 2055-01-15      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| BAUSCH & LOMB NL BV/INC                               | Bausch + Lomb Netherlands BV and Bausch & Lomb Inc                               | CUSIP: 000000000<br>LEI: 549300NY6OZM39SO6475 | Long             | DBT              | CORP              | XX        |    100000 | PA      | $118955.52    | 0.02%             | 2031-01-15      | Floating      | 5.87%                 | No            |                  2 | On Loan: No      |
| MITCHELL INTERNATIONAL INC                            | Mitchell International Inc 2024 2nd Lien Term Loan                               | CUSIP: 60662WAZ5<br>LEI: 5493002RDNIGEM7SSV41 | Long             | LON              | CORP              | US        |     15000 | PA      | $14805.00     | 0.00%             | 2032-06-17      | Floating      | 9.41%                 | No            |                  2 | On Loan: No      |
| CSC Holdings LLC                                      | CSC Holdings LLC 2019 Term Loan B5                                               | CUSIP: 64072UAK8<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | LON              | CORP              | US        |    132650 | PA      | $128214.46    | 0.02%             | 2027-04-15      | Floating      | 8.75%                 | No            |                  2 | On Loan: No      |
| CORELOGIC INC                                         | CoreLogic Inc                                                                    | CUSIP: 21871DAD5<br>LEI: 54930086CD8K2UIL0516 | Long             | DBT              | CORP              | US        |    118000 | PA      | $114413.06    | 0.02%             | 2028-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| VEOLIA ENVIRONNEMENT SA                               | Veolia Environnement SA                                                          | CUSIP: 000000000<br>LEI: 969500LENY69X51OOT31 | Long             | DBT              | CORP              | FR        |    100000 | PA      | $117638.23    | 0.02%             | 2032-10-24      | Fixed         | 4.32%                 | No            |                  2 | On Loan: No      |
| ZF EUROPE FINANCE BV                                  | ZF Europe Finance BV                                                             | CUSIP: 000000000<br>LEI: 549300RI533US2G6G542 | Long             | DBT              | CORP              | NL        |    300000 | PA      | $341134.99    | 0.06%             | 2027-10-23      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| MITSUBISHI UFJ FIN GRP                                | Mitsubishi UFJ Financial Group Inc                                               | CUSIP: 606822DP6<br>LEI: 353800V2V8PUY9TK3E06 | Long             | DBT              | CORP              | JP        |    400000 | PA      | $408340.40    | 0.07%             | 2036-01-15      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| DARLING GLOBAL FINANCE                                | Darling Global Finance BV                                                        | CUSIP: 000000000<br>LEI: 724500R2BQXOR6YG2Y67 | Long             | DBT              | CORP              | NL        |    124000 | PA      | $146983.83    | 0.02%             | 2032-07-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| WHIRLPOOL CORP                                        | Whirlpool Corp                                                                   | CUSIP: 963320BE5<br>LEI: WHENKOULSSK7WUM60H03 | Long             | DBT              | CORP              | US        |     13000 | PA      | $12973.24     | 0.00%             | 2033-06-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| JetBlue Airways Corporation                           | JetBlue Airways Corporation 2024 Term Loan B                                     | CUSIP: 000000000<br>LEI: 54930070J9H97ZO93T57 | Long             | LON              | CORP              | US        |     53610 | PA      | $51331.58     | 0.01%             | 2029-08-27      | Floating      | 8.75%                 | No            |                  2 | On Loan: No      |
| GESTAMP AUTOMOCION SA                                 | Gestamp Automocion SA                                                            | CUSIP: 000000000<br>LEI: 95980020140005484363 | Long             | DBT              | CORP              | ES        |    100000 | PA      | $117869.04    | 0.02%             | 2030-10-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Zilliant Incorporated                                 | Zilliant Inc Term Loan                                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1774871 | PA      | $1698551.37   | 0.29%             | 2027-12-21      | Floating      | 6.26%                 | No            |                  3 | On Loan: No      |
| SEALED AIR CORP                                       | Sealed Air Corp                                                                  | CUSIP: 81211KAY6<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | DBT              | CORP              | US        |      5000 | PA      | $4906.95      | 0.00%             | 2027-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| AMERIGAS PART/FIN CORP                                | AmeriGas Partners LP / AmeriGas Finance Corp                                     | CUSIP: 030981AP9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      6000 | PA      | $6281.27      | 0.00%             | 2030-06-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| TransDigm Inc                                         | TransDigm Inc 2023 Term Loan J                                                   | CUSIP: 89364MCA0<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | LON              | CORP              | US        |    242900 | PA      | $242741.82    | 0.04%             | 2031-02-28      | Floating      | 6.50%                 | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP                                     | Clarios Global LP 2024 USD Term Loan B                                           | CUSIP: 000000000<br>LEI: 549300474L1ZLXZY2P98 | Long             | LON              | CORP              | US        |    163452 | PA      | $163298.69    | 0.03%             | 2030-05-06      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| PARK INTERMED HOLDINGS                                | Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co-Issuer | CUSIP: 70052LAD5<br>LEI: N/A                  | Long             | DBT              |  | US        |     27000 | PA      | $27834.14     | 0.00%             | 2030-02-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| FANTASIA HOLDINGS GROUP                               | Fantasia Holdings Group Co Ltd                                                   | CUSIP: 000000000<br>LEI: 5493005JQNLB3I01JW62 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $4125.00      | 0.00%             | 2022-10-18      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BELRON FINANCE 2019 LLC                               | Belron Finance 2019 LLC 2025 Repriced Term Loan B                                | CUSIP: 08078UAN3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    172285 | PA      | $173039.65    | 0.03%             | 2031-10-16      | Floating      | 6.74%                 | No            |                  2 | On Loan: No      |
| X.AI Corp                                             | XAI Corp Fixed Term Loan                                                         | CUSIP: 98402XAB1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2000000 | PA      | $2068920.00   | 0.35%             | 2030-06-28      | Fixed         | 12.50%                | No            |                  2 | On Loan: No      |
| CHOBANI HOLDCO II LLC                                 | Chobani Holdco II LLC                                                            | CUSIP: 169918AA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    104195 | PA      | $110419.71    | 0.02%             | 2029-10-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| BELLIS ACQUISITION CO PL                              | Bellis Acquisition Co PLC                                                        | CUSIP: 000000000<br>LEI: 259400CYE2267UB4A481 | Long             | DBT              | CORP              | GB        |    300000 | PA      | $357454.44    | 0.06%             | 2031-07-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| ESO SOLUTIONS INC                                     | ESO Solutions Inc 2024 Incremental Term Loan                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    963704 | PA      | $959848.90    | 0.16%             | 2027-05-03      | Floating      | 10.95%                | No            |                  3 | On Loan: No      |
| Bleriot US Bidco Inc                                  | Bleriot US Bidco Inc 2023 Term Loan B                                            | CUSIP: 09353TAJ9<br>LEI: 254900ALCQ2A2VYD5Z08 | Long             | LON              | CORP              | US        |     54286 | PA      | $54271.63     | 0.01%             | 2030-10-31      | Floating      | 6.50%                 | No            |                  2 | On Loan: No      |
| GENESIS ENERGY LP/FIN                                 | Genesis Energy LP / Genesis Energy Finance Corp                                  | CUSIP: 37185LAL6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      2000 | PA      | $2014.09      | 0.00%             | 2028-02-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| MOTION FINCO SARL                                     | Motion Finco Sarl                                                                | CUSIP: 000000000<br>LEI: 2549002L1LBQZKA7UN30 | Long             | DBT              | CORP              | LU        |    200000 | PA      | $211524.92    | 0.04%             | 2030-06-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| DEUCE FINCO                                           | Deuce Finco PLC                                                                  | CUSIP: 000000000<br>LEI: 9845007DA2BC863E8437 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $134238.98    | 0.02%             | 2027-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| LIFEPOINT HEALTH INC                                  | LifePoint Health Inc                                                             | CUSIP: 53219LAW9<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | DBT              | CORP              | US        |     94000 | PA      | $103602.76    | 0.02%             | 2030-10-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| DISH DBS CORP                                         | DISH DBS Corp                                                                    | CUSIP: 25470XBE4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     72000 | PA      | $70746.79     | 0.01%             | 2026-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| THRASIO LLC                                           | THRASIO LLC                                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20031 | NS      | $0.20         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CLEVELAND-CLIFFS INC                                  | Cleveland-Cliffs Inc                                                             | CUSIP: 185899AQ4<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |     25000 | PA      | $25476.65     | 0.00%             | 2029-11-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| GATES GLOBAL LLC                                      | Gates Global LLC 2024 Term Loan B5                                               | CUSIP: 36740UAY8<br>LEI: 984500F43C791F4C7894 | Long             | LON              | CORP              | US        |    112983 | PA      | $112776.71    | 0.02%             | 2031-06-04      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| Electricite de France SA                              | Electricite de France SA                                                         | CUSIP: 000000000<br>LEI: 549300X3UK4GG3FNMO06 | Long             | DBT              | CORP              | FR        |    400000 | PA      | $539609.98    | 0.09%             | 2026-01-29      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| EMRLD BOR / EMRLD CO-ISS                              | EMRLD Borrower LP / Emerald Co-Issuer Inc                                        | CUSIP: 000000000<br>LEI: 98450099EE3A0ZD5F786 | Long             | DBT              | CORP              | US        |    103000 | PA      | $126336.80    | 0.02%             | 2030-12-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| IMA INDUSTRIA MACCHINE                                | IMA Industria Macchine Automatiche SpA                                           | CUSIP: 000000000<br>LEI: 815600D86992FDA7B908 | Long             | DBT              | CORP              | IT        |    200000 | PA      | $236983.81    | 0.04%             | 2029-04-15      | Floating      | 5.78%                 | No            |                  2 | On Loan: No      |
| Discovery Purchaser Corporation                       | Discovery Purchaser Corporation Term Loan                                        | CUSIP: 25471NAC0<br>LEI: 2549001LSO1ZBIPA5D65 | Long             | LON              | CORP              | US        |     16965 | PA      | $16866.13     | 0.00%             | 2029-10-04      | Floating      | 8.08%                 | No            |                  2 | On Loan: No      |
| BELLIS ACQUISITION CO PL                              | Bellis Acquisition Co PLC                                                        | CUSIP: 000000000<br>LEI: 259400CYE2267UB4A481 | Long             | DBT              | CORP              | GB        |    113000 | PA      | $145436.58    | 0.02%             | 2030-05-14      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| TELEGRAM GROUP INC                                    | Telegram Group Inc                                                               | CUSIP: 000000000<br>LEI: 254900BJBDIA1F0KKJ52 | Long             | DBT              | CORP              | VG        |   5000000 | PA      | $5087947.65   | 0.87%             | 2030-06-05      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Standard Industries Inc                               | Standard Industries Inc 2021 Term Loan B                                         | CUSIP: 85350EAB2<br>LEI: 54930064UHXCIUWVI755 | Long             | LON              | CORP              | US        |     20031 | PA      | $20052.07     | 0.00%             | 2028-09-22      | Floating      | 5.89%                 | No            |                  2 | On Loan: No      |
| STONEPEAK NILE PARENT LLC                             | STONEPEAK NILE PARENT LLC TERM LOAN                                              | CUSIP: 86184XAD6<br>LEI: 254900TJV3VAFZD0GU41 | Long             | LON              | CORP              | US        |     25000 | PA      | $24968.75     | 0.00%             | 2032-04-09      | Floating      | 6.40%                 | No            |                  2 | On Loan: No      |
| WATCO COS LLC/FINANCE CO                              | Watco Cos LLC / Watco Finance Corp                                               | CUSIP: 941130AD8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      6000 | PA      | $6210.42      | 0.00%             | 2032-08-01      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| RAZOR GROUP GMBH                                      | RAZOR GROUP GMBH                                                                 | CUSIP: 000000000<br>LEI: 984500A70HT9566EC150 | N/A              | DE               |  | US        |        46 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| VITAL ENERGY INC                                      | Vital Energy Inc                                                                 | CUSIP: 516806AH9<br>LEI: 549300X0PTWU2QSLSL14 | Long             | DBT              | CORP              | US        |     10000 | PA      | $9903.10      | 0.00%             | 2029-07-31      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| DANA INC                                              | Dana Inc                                                                         | CUSIP: 235825AH9<br>LEI: KVWHW7YLZPFJM8QYNJ51 | Long             | DBT              | CORP              | US        |      6000 | PA      | $5942.06      | 0.00%             | 2030-09-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| ICON Luxembourg Sarl                                  | ICON Luxembourg SARL 2024 LUX Term Loan B                                        | CUSIP: 000000000<br>LEI: 635400PUWMHSPI2DDA35 | Long             | LON              | CORP              | LU        |     25209 | PA      | $25187.74     | 0.00%             | 2028-07-03      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                | US LONG BOND(CBT) DEC25                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |         8 | NC      | $23673.58     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| QNITY ELECTRONICS INC                                 | Qnity Electronics Inc                                                            | CUSIP: 74743LAB6<br>LEI: 254900RSUG4J9TFFZX53 | Long             | DBT              | CORP              | US        |     17000 | PA      | $17360.16     | 0.00%             | 2033-08-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| WMG ACQUISITION CORP                                  | WMG Acquisition Corp 2024 Term Loan J                                            | CUSIP: 92929LBA5<br>LEI: 549300NAS11NXI33CP80 | Long             | LON              | CORP              | US        |    165498 | PA      | $165602.26    | 0.03%             | 2031-01-24      | Floating      | 5.95%                 | No            |                  2 | On Loan: No      |
| Titan Acquisition Limited                             | Titan Acquisition Limited 2024 Term Loan B                                       | CUSIP: 000000000<br>LEI: 5493003ZDHRVP2N4C109 | Long             | LON              | CORP              | CA        |    220876 | PA      | $221304.60    | 0.04%             | 2029-02-15      | Floating      | 7.92%                 | No            |                  2 | On Loan: No      |
| BUBBLES BIDCO SPA                                     | Bubbles Bidco SPA                                                                | CUSIP: 000000000<br>LEI: 815600073942740CEB24 | Long             | DBT              | CORP              | IT        |    100000 | PA      | $118307.59    | 0.02%             | 2031-09-30      | Floating      | 6.25%                 | No            |                  2 | On Loan: No      |
| SMX Group LLC                                         | SMX Group LLC Term Loan                                                          | CUSIP: 89617EAB3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2456406 | PA      | $2465617.76   | 0.42%             | 2032-02-06      | Floating      | 8.66%                 | No            |                  2 | On Loan: No      |
| Spartan Bidco Pty Ltd                                 | Spartan Bidco Pty Ltd Term Loan                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | AU        |   2139298 | PA      | $2130342.08   | 0.36%             | 2028-01-24      | Floating      | 10.96%                | No            |                  3 | On Loan: No      |
| Realtruck Group Inc                                   | RealTruck Group Inc 2023 Incremental Term Loan                                   | CUSIP: 89778PAH0<br>LEI: 54930007KT5CX7XNSD31 | Long             | LON              | CORP              | US        |     20841 | PA      | $19356.36     | 0.00%             | 2028-01-31      | Floating      | 9.28%                 | No            |                  2 | On Loan: No      |
| USI Inc                                               | USI Inc 2024 Term Loan C                                                         | CUSIP: 90351NAQ8<br>LEI: 2549006D7UF7072T7I27 | Long             | LON              | CORP              | US        |     90728 | PA      | $90582.39     | 0.02%             | 2030-09-29      | Floating      | 6.25%                 | No            |                  2 | On Loan: No      |
| ALTICE FINANCING SA                                   | Altice Financing SA                                                              | CUSIP: 000000000<br>LEI: 549300DIYGW8HVDF7Q17 | Long             | DBT              | CORP              | LU        |    100000 | PA      | $90501.35     | 0.02%             | 2028-01-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| HUB INTERNATIONAL LTD                                 | HUB International Ltd                                                            | CUSIP: 44332PAJ0<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |    241000 | PA      | $250962.70    | 0.04%             | 2032-01-31      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| AthenaHealth Group Inc                                | Athenahealth Group Inc 2022 Term Loan B                                          | CUSIP: 04686RAB9<br>LEI: 254900AA3KZN4Q7A5Z33 | Long             | LON              | CORP              | US        |    207464 | PA      | $206945.35    | 0.04%             | 2029-02-15      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| Planet US Buyer LLC                                   | Planet US Buyer LLC 2024 Term Loan B                                             | CUSIP: 72706RAB2<br>LEI: 254900ZE51SEX2EFFH74 | Long             | LON              | CORP              | US        |     21817 | PA      | $21914.08     | 0.00%             | 2031-02-07      | Floating      | 7.20%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                         | Citigroup Inc                                                                    | CUSIP: 17327CBC6<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     15000 | PA      | $15458.36     | 0.00%             | 2030-08-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Mcdermott International Ltd                           | Mcdermott International Ltd                                                      | CUSIP: 000000000<br>LEI: 54930004RAXI4B3L4752 | Long             | EC               | CORP              | BM        |        17 | NS      | $338.30       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| NOVELIS CORPORATION                                   | Novelis Corporation 2025 Term Loan B                                             | CUSIP: 67000LAB8<br>LEI: 549300ZJQN1PEAT42X90 | Long             | LON              | CORP              | US        |    124688 | PA      | $124870.79    | 0.02%             | 2032-03-11      | Floating      | 5.75%                 | No            |                  2 | On Loan: No      |
| Regatta XII Funding Ltd.                              | Regatta XII Funding Ltd                                                          | CUSIP: 75888HAW1<br>LEI: 2549001ZYXDVCT6R4I31 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1003151.00   | 0.17%             | 2037-10-15      | Floating      | 5.71%                 | No            |                  2 | On Loan: No      |
| ESO Solutions Inc                                     | ESO Solutions Inc Term Loan                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3696319 | PA      | $3681533.89   | 0.63%             | 2027-05-03      | Floating      | 10.95%                | No            |                  3 | On Loan: No      |
| B&M EUROPEAN VALUE RET                                | B&M European Value Retail SA                                                     | CUSIP: 000000000<br>LEI: 213800UK7ZRLY2K1X530 | Long             | DBT              | CORP              | LU        |    200000 | PA      | $272503.84    | 0.05%             | 2031-11-27      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP INC                                | Cloud Software Group Inc                                                         | CUSIP: 18912UAA0<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |    257000 | PA      | $266562.04    | 0.05%             | 2029-09-30      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| PUG LLC                                               | PUG LLC 2024 Extended Term Loan B                                                | CUSIP: 74530DAH8<br>LEI: 549300NL9JUFIOARLW93 | Long             | LON              | CORP              | US        |   1911854 | PA      | $1891932.47   | 0.32%             | 2030-03-15      | Floating      | 8.91%                 | No            |                  2 | On Loan: No      |
| SANMINA CORP                                          | SANMINA CORP TERM LOAN B                                                         | CUSIP: 000000000<br>LEI: X5K24XLM8QYRXF00EB42 | Long             | LON              | CORP              | US        |     40000 | PA      | $39900.00     | 0.01%             | 2032-08-06      | Floating      | 6.17%                 | No            |                  3 | On Loan: No      |
| MAUSER PACKAGING SOLUT                                | Mauser Packaging Solutions Holding Co                                            | CUSIP: 57763RAD9<br>LEI: 549300DNGHXL0OMHW304 | Long             | DBT              | CORP              | US        |    299000 | PA      | $301931.10    | 0.05%             | 2027-04-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| West Corporation                                      | West Corporation 2023 Term Loan B3                                               | CUSIP: 68162RAH4<br>LEI: 5493005Z5DB0O5S30R71 | Long             | LON              | CORP              | US        |    995784 | PA      | $446111.04    | 0.08%             | 2027-04-10      | Floating      | 8.56%                 | No            |                  2 | On Loan: No      |
| Kaseya Inc                                            | Kaseya Inc 2025 1st Lien Term Loan B                                             | CUSIP: 48578AAB4<br>LEI: 254900MISXMLRZ63NH46 | Long             | LON              | CORP              | US        |    159237 | PA      | $159382.32    | 0.03%             | 2032-03-20      | Floating      | 7.41%                 | No            |                  2 | On Loan: No      |
| VISTRA CORP                                           | Vistra Corp                                                                      | CUSIP: 92840MAB8<br>LEI: 549300KP43CPCUJOOG15 | Long             | DBT              | CORP              | US        |     13000 | PA      | $13297.15     | 0.00%             | 2026-10-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Concentra Health Services Inc                         | Concentra Health Services Inc 2025 Repriced Term Loan B                          | CUSIP: 20602RAD2<br>LEI: 984500GB84105F75DE32 | Long             | LON              | CORP              | US        |     32790 | PA      | $32892.85     | 0.01%             | 2031-07-26      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| AIR FRANCE-KLM                                        | Air France-KLM                                                                   | CUSIP: 000000000<br>LEI: 969500AQW31GYO8JZD66 | Long             | DBT              | CORP              | FR        |    100000 | PA      | $119803.21    | 0.02%             | 2030-05-21      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| XPLR INFRASTRUCTURE LP                                | XPLR Infrastructure LP                                                           | CUSIP: 65341BAG1<br>LEI: 5493008F4ZOQFNG3WN54 | Long             | DBT              | CORP              | US        |     43000 | PA      | $41925.00     | 0.01%             | 2026-06-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Lucky US Buyerco LLC                                  | Lucky US Buyerco LLC Term Loan B                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     84867 | PA      | $83444.76     | 0.01%             | 2029-03-29      | Floating      | 11.50%                | No            |                  3 | On Loan: No      |
| CROSSCOUNTRY INTER                                    | CrossCountry Intermediate HoldCo LLC                                             | CUSIP: 22757VAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     19000 | PA      | $19069.91     | 0.00%             | 2030-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| MODERN LAND CHINA CO LTD                              | Modern Land China Co Ltd                                                         | CUSIP: 000000000<br>LEI: 549300PDOU6AR9Z9IN08 | Long             | DBT              | CORP              | KY        |         1 | PA      | $0.01         | 0.00%             | 2026-12-30      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| RCI BANQUE SA                                         | RCI Banque SA                                                                    | CUSIP: 000000000<br>LEI: 96950001WI712W7PQG45 | Long             | DBT              | CORP              | FR        |    100000 | PA      | $119454.02    | 0.02%             | 2037-03-24      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| MONG DUONG FIN HLDGS BV                               | Mong Duong Finance Holdings BV                                                   | CUSIP: 000000000<br>LEI: 549300995KGQFMWSV879 | Long             | DBT              | CORP              | NL        |    338800 | PA      | $334988.32    | 0.06%             | 2029-05-07      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                                 | Venture Global Plaquemines LNG LLC                                               | CUSIP: 922966AC0<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |     66000 | PA      | $69475.39     | 0.01%             | 2034-01-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| AHF Parent Holding Inc                                | AHF Parent Holding Inc Term Loan                                                 | CUSIP: 00128UAB6<br>LEI: 254900R3WYBXK1O4V655 | Long             | LON              | CORP              | US        |   1727450 | PA      | $1574864.74   | 0.27%             | 2028-02-01      | Floating      | 10.51%                | No            |                  2 | On Loan: No      |
| Kid Distro Holdings LLC                               | Kid Distro Holdings LLC Term Loan                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3254550 | PA      | $3254550.34   | 0.55%             | 2027-10-01      | Floating      | 9.20%                 | No            |                  3 | On Loan: No      |
| ROCKET COS INC                                        | Rocket Cos Inc                                                                   | CUSIP: 77311WAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     74000 | PA      | $76376.44     | 0.01%             | 2033-08-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| GC Champion Acquisition LLC                           | GC Champion Acquisition LLC 1st Lien Term Loan                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2999441 | PA      | $2974365.78   | 0.51%             | 2028-08-21      | Floating      | 9.21%                 | No            |                  3 | On Loan: No      |
| SOFTBANK GROUP CORP                                   | SoftBank Group Corp                                                              | CUSIP: 000000000<br>LEI: 5493003BZYYYCDIO0R13 | Long             | DBT              | CORP              | JP        |    100000 | PA      | $124834.45    | 0.02%             | 2033-07-10      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| LIGADO NETWORKS LLC                                   | Ligado Networks LLC 2025 Fixed DIP Roll-Up Term Loan                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4982591 | PA      | $4384679.73   | 0.75%             | 2049-12-31      | Fixed         | 17.50%                | No            |                  2 | On Loan: No      |
| FTAI AVIATION INVESTORS                               | FTAI Aviation Investors LLC                                                      | CUSIP: 34960PAG6<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |     48000 | PA      | $50233.06     | 0.01%             | 2032-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| QUARTZ ACQUIRECO LLC                                  | Quartz Acquireco LLC 2025 Term Loan B                                            | CUSIP: 74773KAE5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     71904 | PA      | $71575.18     | 0.01%             | 2030-06-28      | Floating      | 6.25%                 | No            |                  2 | On Loan: No      |
| Persado Inc                                           | Persado Inc Term Loan                                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     87500 | PA      | $93362.76     | 0.02%             | 2027-06-10      | Floating      | 11.78%                | No            |                  3 | On Loan: No      |
| ADVANCION SCIENCES INC                                | Advancion Sciences Inc                                                           | CUSIP: 499894AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     27898 | PA      | $24689.73     | 0.00%             | 2026-11-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| DK CROWN HOLDINGS INC                                 | DK Crown Holdings Inc 2025 Term Loan B                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     94525 | PA      | $94348.24     | 0.02%             | 2032-03-04      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| Security Services Acquisition Sub Corp                | Security Services Acquisition Sub Corp 2024 Term Loan                            | CUSIP: 000000000<br>LEI: 549300TS3U4JKMR1B479 | Long             | LON              | CORP              | US        |   1839823 | PA      | $1821449.83   | 0.31%             | 2027-09-30      | Floating      | 10.01%                | No            |                  3 | On Loan: No      |
| JSW STEEL LTD                                         | JSW Steel Ltd                                                                    | CUSIP: 000000000<br>LEI: 335800EK6HZSC4CVAJ09 | Long             | DBT              | CORP              | IN        |    200000 | PA      | $196400.00    | 0.03%             | 2027-04-05      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| PRESTIGEBIDCO GMBH                                    | PrestigeBidCo GmbH                                                               | CUSIP: 000000000<br>LEI: 529900CSF1DNOCHMI763 | Long             | DBT              | CORP              | DE        |    200000 | PA      | $236142.46    | 0.04%             | 2029-07-01      | Floating      | 5.78%                 | No            |                  2 | On Loan: No      |
| Learfield Communications, LLC                         | Learfield Communications LLC 2024 Term Loan B                                    | CUSIP: 00165HAL7<br>LEI: 549300177GK4LMS8T214 | Long             | LON              | CORP              | US        |     40749 | PA      | $41105.89     | 0.01%             | 2028-06-30      | Floating      | 8.66%                 | No            |                  2 | On Loan: No      |
| CHG HEALTHCARE SERVICES INC                           | CHG Healthcare Services Inc 2025 Term Loan B1                                    | CUSIP: 12541HAX1<br>LEI: 54930016Y1HPAVB9PZ54 | Long             | LON              | CORP              | US        |     54968 | PA      | $54965.50     | 0.01%             | 2028-09-29      | Floating      | 7.05%                 | No            |                  2 | On Loan: No      |
| CLEAN HARBORS INC                                     | Clean Harbors Inc 2024 Term Loan B                                               | CUSIP: 18449EAH3<br>LEI: 5493000SJVZVZJKHJF48 | Long             | LON              | CORP              | US        |     56964 | PA      | $56964.28     | 0.01%             | 2028-10-09      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| ARBOR REALTY SR INC                                   | Arbor Realty SR Inc                                                              | CUSIP: 03881NAJ6<br>LEI: 549300TW7RTL2CI3CN08 | Long             | DBT              |  | US        |     11000 | PA      | $11565.83     | 0.00%             | 2030-07-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| UKG Inc                                               | UKG Inc 2024 Term Loan B                                                         | CUSIP: 89841EAB1<br>LEI: 529900FKHWSTQ1GXK240 | Long             | LON              | CORP              | US        |    196281 | PA      | $196028.06    | 0.03%             | 2031-02-10      | Floating      | 6.81%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                                | Venture Global LNG Inc                                                           | CUSIP: 92332YAC5<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |     89000 | PA      | $98080.23     | 0.02%             | 2029-02-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| AqGen Island Holdings Inc                             | AqGen Island Holdings Inc 2024 Term Loan B                                       | CUSIP: 03836BAH2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     92888 | PA      | $92749.09     | 0.02%             | 2028-08-02      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| Q-PARK HOLDING I BV                                   | Q-Park Holding I BV                                                              | CUSIP: 000000000<br>LEI: 2549003839B7HE3NDP48 | Long             | DBT              | CORP              | NL        |    102000 | PA      | $123692.45    | 0.02%             | 2030-02-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Proofpoint, Inc.                                      | Proofpoint Inc 2024 Term Loan                                                    | CUSIP: 74345HAG6<br>LEI: 529900C5FODDK0WSR085 | Long             | LON              | CORP              | US        |    151778 | PA      | $152174.24    | 0.03%             | 2028-08-31      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| UKG INC                                               | UKG Inc                                                                          | CUSIP: 90279XAA0<br>LEI: 529900FKHWSTQ1GXK240 | Long             | DBT              | CORP              | US        |    191000 | PA      | $197080.49    | 0.03%             | 2031-02-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| ACADIA HEALTHCARE CO INC                              | Acadia Healthcare Co Inc                                                         | CUSIP: 00404AAQ2<br>LEI: 5493005CW985Y9D0NC11 | Long             | DBT              | CORP              | US        |      8000 | PA      | $8305.51      | 0.00%             | 2033-03-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| MAHLE GMBH                                            | Mahle GmbH                                                                       | CUSIP: 000000000<br>LEI: 52990098TR1QJBWIYG58 | Long             | DBT              | CORP              | DE        |    157000 | PA      | $190805.79    | 0.03%             | 2031-05-02      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| PROOFPOINT INC                                        | PROOFPOINT INC 2025 FUNGIBLE TERM LOAN                                           | CUSIP: 74345HAJ0<br>LEI: 529900C5FODDK0WSR085 | Long             | LON              | CORP              | US        |     16000 | PA      | $16041.76     | 0.00%             | 2028-08-31      | Floating      | 7.15%                 | No            |                  2 | On Loan: No      |
| Bad Boy Mowers Acquisition LLC                        | Bad Boy Mowers Acquisition LLC 2023 Term Loan                                    | CUSIP: 05648EAB2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     68201 | PA      | $68541.53     | 0.01%             | 2029-11-09      | Floating      | 9.39%                 | No            |                  3 | On Loan: No      |
| Sellerx                                               | Sellerx 2025 Tranche A2 Term Loan                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | IE        |    735630 | PA      | $735629.59    | 0.13%             | 2028-12-31      | Floating      | 13.00%                | No            |                  3 | On Loan: No      |
| JH NORTH AMERICA HOLDING                              | JH North America Holdings Inc                                                    | CUSIP: 46593WAB1<br>LEI: 254900A6FXA0D81TL967 | Long             | DBT              | CORP              | US        |     24000 | PA      | $24582.58     | 0.00%             | 2032-07-31      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| UTZ QUALITY FOODS LLC                                 | UTZ Quality Foods LLC 2025 Term Loan B                                           | CUSIP: 91809EAG6<br>LEI: 549300K2HU2ISL0R2Q75 | Long             | LON              | CORP              | US        |     93816 | PA      | $93768.75     | 0.02%             | 2032-01-29      | Floating      | 6.50%                 | No            |                  2 | On Loan: No      |
| RAZOR GROUP GMBH                                      | Razor Group Gmbh 2025 Tranche Term Loan 2 A                                      | CUSIP: 000000000<br>LEI: 984500A70HT9566EC150 | Long             | LON              | CORP              | DE        |    210411 | PA      | $210600.59    | 0.04%             | 2029-12-20      | Floating      | 9.20%                 | No            |                  3 | On Loan: No      |
| JSW HYDRO ENERGY LTD                                  | JSW Hydro Energy Ltd                                                             | CUSIP: 000000000<br>LEI: 3358006ZP5KO7VUH2790 | Long             | DBT              | CORP              | IN        |    142000 | PA      | $134545.00    | 0.02%             | 2031-05-18      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| RIVERS ENTERPRISE                                     | Rivers Enterprise Lender LLC / Rivers Enterprise Lender Corp                     | CUSIP: 76884GAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     12000 | PA      | $12107.00     | 0.00%             | 2030-10-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| STREAMLAND MEDIA MIDCO LLC                            | Streamland Media Midco LLC 2025 2nd Amendment First Out Term Loan                | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     30503 | PA      | $30502.70     | 0.01%             | 2029-04-02      | Floating      | 8.76%                 | No            |                  3 | On Loan: No      |
| FOUNDATION BUILDING M                                 | Foundation Building Materials Inc                                                | CUSIP: 350392AA4<br>LEI: 549300ZVE6MONHB01I28 | Long             | DBT              | CORP              | US        |      2000 | PA      | $2027.22      | 0.00%             | 2029-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| EPHIOS SUBCO SARL                                     | Ephios Subco 3 Sarl                                                              | CUSIP: 000000000<br>LEI: 213800E4EG6VFUFVEH64 | Long             | DBT              | CORP              | LU        |    134000 | PA      | $167481.12    | 0.03%             | 2031-01-31      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| LSF12 Crown US Commercial Bidco LLC                   | LSF12 Crown US Commercial Bidco LLC 2025 Term Loan B                             | CUSIP: 50221UAD3<br>LEI: 254900FI2OCFTJ9PAJ18 | Long             | LON              | CORP              | US        |     37000 | PA      | $37023.31     | 0.01%             | 2031-12-02      | Floating      | 7.64%                 | No            |                  2 | On Loan: No      |
| SOLSTICE ADVANCED MTRIALS INC                         | SOLSTICE ADVANCED MTRIALS INC TERM LOAN B                                        | CUSIP: 000000000<br>LEI: 2138004GZ4H9TW6HK435 | Long             | LON              | CORP              | US        |     43000 | PA      | $43027.09     | 0.01%             | 2032-09-17      | Floating      | 5.88%                 | No            |                  2 | On Loan: No      |
| LJ AVALON HOLDINGS LLC                                | LJ Avalon Holdings LLC 2024 1st Amendment Delayed Draw Term Loan                 | CUSIP: 000000000<br>LEI: 254900GH43JWLMR1ZG27 | Long             | LON              | CORP              | US        |    782774 | PA      | $782774.26    | 0.13%             | 2030-02-01      | Floating      | 8.81%                 | No            |                  3 | On Loan: No      |
| RR DONNELLEY & SONS CO                                | RR Donnelley & Sons Co                                                           | CUSIP: 257867BJ9<br>LEI: SU4X0P4WWRGOQDTSV032 | Long             | DBT              | CORP              | US        |     47000 | PA      | $48168.66     | 0.01%             | 2029-08-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| NEW IMMO HOLDING SA                                   | New Immo Holding SA                                                              | CUSIP: 000000000<br>LEI: 5493007LOTJ0I8E94R81 | Long             | DBT              | CORP              | FR        |    100000 | PA      | $121224.73    | 0.02%             | 2028-04-17      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Oak Hill Credit                                       | OHA Credit Partners XV Ltd                                                       | CUSIP: 67707BAR1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1522372.80   | 0.26%             | 2037-04-20      | Floating      | 7.78%                 | No            |                  2 | On Loan: No      |
| Directv Financing LLC                                 | DirecTV Financing LLC Term Loan                                                  | CUSIP: 25460HAB8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      6212 | PA      | $6212.70      | 0.00%             | 2027-08-02      | Floating      | 9.57%                 | No            |                  2 | On Loan: No      |
| ZEGONA FINANCE PLC                                    | Zegona Finance PLC                                                               | CUSIP: 000000000<br>LEI: 254900B3KC1SS7T2TE92 | Long             | DBT              | CORP              | GB        |    313300 | PA      | $389412.00    | 0.07%             | 2029-07-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| AMKOR TECHNOLOGY INC                                  | Amkor Technology Inc                                                             | CUSIP: 031652BL3<br>LEI: 529900VHLRTKPWZJBM84 | Long             | DBT              | CORP              | US        |      6000 | PA      | $6061.10      | 0.00%             | 2033-10-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| VORTEX OPCO LLC                                       | Vortex Opco LLC Second Out Term Loan                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | KY        |     43827 | PA      | $9641.87      | 0.00%             | 2028-12-17      | Floating      | 8.37%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                              | CHS/Community Health Systems Inc                                                 | CUSIP: 12543DBQ2<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |     65000 | PA      | $66592.50     | 0.01%             | 2034-01-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| Security Services Acquisition Sub Corp                | Security Services Acquisition Sub Corp 2024 11th Amendment Term Loan A           | CUSIP: 000000000<br>LEI: 549300TS3U4JKMR1B479 | Long             | LON              | CORP              | US        |    517435 | PA      | $512267.69    | 0.09%             | 2027-09-30      | Floating      | 10.01%                | No            |                  3 | On Loan: No      |
| KODIAK GAS SERVICES LLC                               | Kodiak Gas Services LLC                                                          | CUSIP: 50012LAE4<br>LEI: 549300ZQBRWEUOVOM131 | Long             | DBT              | CORP              | US        |     18000 | PA      | $18481.61     | 0.00%             | 2035-10-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| GREENKO DUTCH BV                                      | Greenko Dutch BV                                                                 | CUSIP: 000000000<br>LEI: 724500PT585P4JPVRP08 | Long             | DBT              | CORP              | NL        |    173000 | PA      | $171314.34    | 0.03%             | 2026-03-29      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| STAKEHOLDER MIDSTREAM LLC                             | STAKEHOLDER MIDSTREAM LLC TERM LOAN                                              | CUSIP: 000000000<br>LEI: 254900BG1PE2KGG26017 | Long             | LON              | CORP              | US        |     29925 | PA      | $29962.41     | 0.01%             | 2031-01-01      | Floating      | 8.04%                 | No            |                  2 | On Loan: No      |
| FRONERI LUX FINCO SARL                                | Froneri Lux FinCo SARL                                                           | CUSIP: 000000000<br>LEI: 9845005YBZ75E5AA3B94 | Long             | DBT              | CORP              | LU        |    100000 | PA      | $118439.22    | 0.02%             | 2032-08-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Security Services Acquisition Sub Corp                | Security Services Acquisition Sub Corp 2024 12th Amendment Term Loan A           | CUSIP: 000000000<br>LEI: 549300TS3U4JKMR1B479 | Long             | LON              | CORP              | US        |    927439 | PA      | $918177.26    | 0.16%             | 2027-09-30      | Floating      | 10.01%                | No            |                  3 | On Loan: No      |
| DEUTSCHE BANK AG                                      | Deutsche Bank AG                                                                 | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    200000 | PA      | $253068.97    | 0.04%             | 2031-10-30      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| CONTINUUM ENERGY AURA                                 | Continuum Energy Aura Pte Ltd                                                    | CUSIP: 000000000<br>LEI: 984500AB52D7C8GC2E33 | Long             | DBT              | CORP              | SG        |    200000 | PA      | $206188.00    | 0.04%             | 2027-02-24      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| QNITY ELECTRONICS INC                                 | QNITY ELECTRONICS INC TERM LOAN B                                                | CUSIP: 74737SAB9<br>LEI: 254900RSUG4J9TFFZX53 | Long             | LON              | CORP              | US        |     82000 | PA      | $81897.50     | 0.01%             | 2032-08-12      | Floating      | 6.13%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                                  | OneMain Finance Corp                                                             | CUSIP: 682691AK6<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |     17000 | PA      | $17561.64     | 0.00%             | 2032-09-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS                              | Univision Communications Inc                                                     | CUSIP: 914906AZ5<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |     29000 | PA      | $29946.62     | 0.01%             | 2031-07-31      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| BARNES GROUP INC                                      | Barnes Group Inc 2025 Term Loan B                                                | CUSIP: 38021CAC2<br>LEI: G1MSYD2DQZX30V5DMX12 | Long             | LON              | CORP              | US        |     25870 | PA      | $25883.97     | 0.00%             | 2032-01-27      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| AZORRA FINANCE                                        | Azorra Finance Ltd                                                               | CUSIP: 05480AAA3<br>LEI: 254900MC1HXDAVUUP395 | Long             | DBT              | CORP              | KY        |     12000 | PA      | $12585.00     | 0.00%             | 2030-04-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                              | Warnermedia Holdings Inc                                                         | CUSIP: 55903VBW2<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |    107000 | PA      | $85420.24     | 0.01%             | 2042-03-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Anticimex International AB                            | Anticimex International AB 2024 Term Loan B6                                     | CUSIP: 03703HAB2<br>LEI: 54930005SBU6WYFBEB41 | Long             | LON              | CORP              | SE        |     29849 | PA      | $29893.65     | 0.01%             | 2028-11-16      | Floating      | 7.76%                 | No            |                  2 | On Loan: No      |
| MELCO RESORTS FINANCE                                 | Melco Resorts Finance Ltd                                                        | CUSIP: 000000000<br>LEI: 5493000FQDBWKDBZEF60 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $199900.00    | 0.03%             | 2028-07-21      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| NAKED JUICE LLC                                       | Naked Juice LLC 2025 FLFO Term Loan                                              | CUSIP: 62984CAK9<br>LEI: 549300Y5TU1XQ1KVLJ64 | Long             | LON              | CORP              | US        |    102896 | PA      | $103410.75    | 0.02%             | 2029-01-24      | Floating      | 9.50%                 | No            |                  2 | On Loan: No      |
| Jobandtalent USA Inc                                  | Jobandtalent USA Inc Delayed Draw Term Loan                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    497827 | PA      | $506787.54    | 0.09%             | 2025-08-17      | Floating      | 11.16%                | No            |                  3 | On Loan: No      |
| AHP HEALTH PARTN                                      | AHP Health Partners Inc                                                          | CUSIP: 00150LAB7<br>LEI: 549300QMM8MQ6SM5KX05 | Long             | DBT              | CORP              | US        |     63000 | PA      | $62001.20     | 0.01%             | 2029-07-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| FANTASIA HOLDINGS GROUP                               | Fantasia Holdings Group Co Ltd                                                   | CUSIP: 000000000<br>LEI: 5493005JQNLB3I01JW62 | Long             | DBT              | CORP              | KY        |    710000 | PA      | $7987.50      | 0.00%             | 2022-04-17      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| AIMBRIDGE                                             | AIMBRIDGE                                                                        | CUSIP: 000000000<br>LEI: 549300SPGKLVE9WYCQ20 | Long             | EC               | CORP              | US        |       640 | NS      | $41298.71     | 0.01%             |  |  |  | No            |                  3 | On Loan: No      |
| ONEMAIN FINANCE CORP                                  | OneMain Finance Corp                                                             | CUSIP: 682691AH3<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |     21000 | PA      | $21585.29     | 0.00%             | 2029-05-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Oak Purchaser Inc                                     | Oak Purchaser Inc Delayed Draw Term Loan                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1439153 | PA      | $1450666.67   | 0.25%             | 2028-05-31      | Floating      | 9.37%                 | No            |                  3 | On Loan: No      |
| NCL CORPORATION LTD                                   | NCL Corp Ltd                                                                     | CUSIP: 62886HBY6<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |     37000 | PA      | $36998.61     | 0.01%             | 2031-01-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CONTOURGLOBAL POWER HLDG                              | ContourGlobal Power Holdings SA                                                  | CUSIP: 000000000<br>LEI: 549300O5AGIFK0PQ1516 | Long             | DBT              | CORP              | LU        |    200000 | PA      | $240359.96    | 0.04%             | 2030-02-28      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PRAIRIE ACQUIROR LP                                   | Prairie Acquiror LP                                                              | CUSIP: 73943NAA4<br>LEI: 254900Q6KU2LVSIISH22 | Long             | DBT              | CORP              | US        |     11000 | PA      | $11452.15     | 0.00%             | 2029-08-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| CLYDESDALE ACQUISITION                                | Clydesdale Acquisition Holdings Inc                                              | CUSIP: 18972EAD7<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |     76000 | PA      | $77965.36     | 0.01%             | 2032-04-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| JP Intermediate B LLC                                 | JP Intermediate B LLC 2023 Term Loan                                             | CUSIP: 46650KAE1<br>LEI: 549300PC0CHCVUMNS121 | Long             | LON              | CORP              | US        |   1442635 | PA      | $43279.06     | 0.01%             | 2027-11-20      | Floating      | 10.08%                | No            |                  2 | On Loan: No      |
| Carering Health LLC                                   | Carering Health LLC Delayed Draw Term Loan                                       | CUSIP: 000000000<br>LEI: 2549002WYLIWEO0Z7665 | Long             | LON              | CORP              | US        |    668531 | PA      | $656412.49    | 0.11%             | 2028-05-04      | Floating      | 10.20%                | No            |                  3 | On Loan: No      |
| ARCHROCK PARTNERS LP/FIN                              | Archrock Partners LP / Archrock Partners Finance Corp                            | CUSIP: 03959KAC4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    119000 | PA      | $119164.58    | 0.02%             | 2028-04-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| MADISON IAQ LLC                                       | Madison IAQ LLC 2025 Term Loan B                                                 | CUSIP: 55759VAD0<br>LEI: 549300IXDNBXNHUPBU73 | Long             | LON              | CORP              | US        |     76808 | PA      | $77126.25     | 0.01%             | 2032-05-06      | Floating      | 7.45%                 | No            |                  2 | On Loan: No      |
| Carval CLO LTD                                        | CarVal CLO VC Ltd                                                                | CUSIP: 14687MAE2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1001512.20   | 0.17%             | 2034-10-15      | Floating      | 6.78%                 | No            |                  2 | On Loan: No      |
| EyeCare Partners LLC                                  | EyeCare Partners LLC 2024 Third Out Term Loan C                                  | CUSIP: 30233PAR1<br>LEI: 254900ZAACWK09RJ8W93 | Long             | LON              | CORP              | US        |      6580 | PA      | $1414.65      | 0.00%             | 2028-11-30      | Floating      | 11.08%                | No            |                  2 | On Loan: No      |
| Bausch & Lomb Corporation                             | Bausch & Lomb Corporation 2023 Incremental Term Loan                             | CUSIP: 000000000<br>LEI: 549300NY6OZM39SO6475 | Long             | LON              | CORP              | CA        |     39200 | PA      | $39151.00     | 0.01%             | 2028-09-29      | Floating      | 8.17%                 | No            |                  2 | On Loan: No      |
| Porcelain Acquisition Corporation                     | Porcelain Acquisition Corporation Term Loan                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1206681 | PA      | $878464.12    | 0.15%             | 2027-04-30      | Floating      | 10.26%                | No            |                  3 | On Loan: No      |
| CLARIOS GLOBAL LP/US FIN                              | Clarios Global LP / Clarios US Finance Co                                        | CUSIP: 18060TAD7<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |     40000 | PA      | $41320.40     | 0.01%             | 2030-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| STUBHUB SRS K PREF STOCK                              | STUBHUB SRS K PREF STOCK                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |      3000 | NS      | $3538416.61   | 0.60%             |  |  |  | No            |                  3 | On Loan: No      |
| LIFEPOINT HEALTH INC                                  | LifePoint Health Inc                                                             | CUSIP: 53219LAV1<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | DBT              | CORP              | US        |     27000 | PA      | $29239.33     | 0.00%             | 2030-08-15      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| JOB AND TALENT HOLDING LTD                            | JOB AND TALENT HOLDING LTD                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     16953 | NS      | $969605.73    | 0.16%             |  |  |  | Yes           |                  3 | On Loan: No      |
| HOMERENEW BUYER CLASS C 1                             | HOMERENEW BUYER CLASS C 1                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3942 | NS      | $0.04         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| IRB Holding Corp                                      | IRB Holding Corp 2024 1st Lien Term Loan B                                       | CUSIP: 44988LAL1<br>LEI: 549300HVW4WNWYBXN830 | Long             | LON              | CORP              | US        |     83317 | PA      | $83321.06     | 0.01%             | 2027-12-15      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| FIRSTUP INC                                           | Firstup Inc Term Loan                                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4182688 | PA      | $4149226.71   | 0.71%             | 2027-07-13      | Floating      | 10.75%                | No            |                  3 | On Loan: No      |
| OSAIC HOLDINGS INC                                    | Osaic Holdings Inc                                                               | CUSIP: 00791GAB3<br>LEI: 549300XL60BDV6UW5C86 | Long             | DBT              | CORP              | US        |     10000 | PA      | $10328.36     | 0.00%             | 2032-08-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                               | Frontier Communications Holdings LLC                                             | CUSIP: 35906ABF4<br>LEI: 549300ZCZ76HYCS0H445 | Long             | DBT              | CORP              | US        |     49000 | PA      | $48889.80     | 0.01%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chemours Company (The)                                | Chemours Company (The) 2023 USD Term Loan B                                      | CUSIP: 16384YAJ6<br>LEI: 549300M1BOLNXL8DOV14 | Long             | LON              | CORP              | US        |     30082 | PA      | $30006.32     | 0.01%             | 2028-08-18      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| CELANESE US HOLDINGS LLC                              | Celanese US Holdings LLC                                                         | CUSIP: 15089QBA1<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |     11000 | PA      | $10953.59     | 0.00%             | 2033-04-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| AMWINS GROUP INC                                      | AmWINS Group Inc 2025 Term Loan B                                                | CUSIP: 03234TBA5<br>LEI: 549300SJE7MUB8NMRG61 | Long             | LON              | CORP              | US        |    160785 | PA      | $160678.88    | 0.03%             | 2032-01-30      | Floating      | 6.25%                 | No            |                  2 | On Loan: No      |
| MILLROSE PROPERTIES INC                               | Millrose Properties Inc                                                          | CUSIP: 601137AA0<br>LEI: N/A                  | Long             | DBT              |  | US        |     41000 | PA      | $41696.59     | 0.01%             | 2030-08-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| COTIVITI CORPORATION                                  | Cotiviti Corporation 2024 Term Loan                                              | CUSIP: 22164MAB3<br>LEI: 254900YAQHVRTG4IFI64 | Long             | LON              | CORP              | US        |    148067 | PA      | $145290.82    | 0.02%             | 2031-05-01      | Floating      | 7.03%                 | No            |                  2 | On Loan: No      |
| CA MAGNUM HOLDINGS                                    | CA Magnum Holdings                                                               | CUSIP: 000000000<br>LEI: 549300ZRDHFR078MFZ78 | Long             | DBT              | CORP              | MU        |    200000 | PA      | $199025.00    | 0.03%             | 2026-10-31      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Wyndham Hotels & Resorts Inc                          | Wyndham Hotels & Resorts Inc 2024 Term Loan                                      | CUSIP: 98310CAF9<br>LEI: 549300FE3MQ4RVXXC673 | Long             | LON              | CORP              | US        |     60848 | PA      | $61021.80     | 0.01%             | 2030-05-24      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| BW NHHC Holdco Inc                                    | BW NHHC Holdco Inc 2022 2nd Lien Third Out Term Loan                             | CUSIP: 05606CAT7<br>LEI: 549300Y5ZHAEE7MHCH51 | Long             | LON              | CORP              | US        |   2088778 | PA      | $208877.84    | 0.04%             | 2026-11-15      | Floating      | 13.20%                | No            |                  3 | On Loan: No      |
| GENESIS ENERGY LP/FIN                                 | Genesis Energy LP / Genesis Energy Finance Corp                                  | CUSIP: 37185LAQ5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     21000 | PA      | $21902.03     | 0.00%             | 2032-05-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| PHOENIX AVIATION CAPITAL                              | Phoenix Aviation Capital Ltd                                                     | CUSIP: 71910DAA9<br>LEI: 8945008YQAKXZQ3VYJ15 | Long             | DBT              | CORP              | IE        |     26000 | PA      | $27661.76     | 0.00%             | 2030-07-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| MAGENTA SECURITY HOLDINGS LLC                         | Magenta Security Holdings LLC 2024 Second Out Term Loan                          | CUSIP: 55909UAF6<br>LEI: 254900F51KU7HIRXTS68 | Long             | LON              | CORP              | US        |    315588 | PA      | $136649.68    | 0.02%             | 2028-07-27      | Floating      | 11.57%                | No            |                  2 | On Loan: No      |
| AZORRA FINANCE                                        | Azorra Finance Ltd                                                               | CUSIP: 05480AAB1<br>LEI: 254900MC1HXDAVUUP395 | Long             | DBT              | CORP              | KY        |      7000 | PA      | $7289.04      | 0.00%             | 2031-01-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES/AADVAN                              | American Airlines Inc/AAdvantage Loyalty IP Ltd                                  | CUSIP: 00253XAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |      3000 | PA      | $3011.48      | 0.00%             | 2029-04-20      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                                     | Iron Mountain Inc                                                                | CUSIP: 000000000<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              |  | US        |    123000 | PA      | $144726.80    | 0.02%             | 2034-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| SeaWorld Parks & Entertainment Inc                    | SeaWorld Parks & Entertainment Inc 2024 Term Loan B3                             | CUSIP: 78488CAL4<br>LEI: 549300UZV72O3371JJ53 | Long             | LON              | CORP              | US        |     23379 | PA      | $23320.49     | 0.00%             | 2031-12-04      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| WILSONART LLC                                         | Wilsonart LLC                                                                    | CUSIP: 97246JAA6<br>LEI: 549300SAZRUMYKDJBY14 | Long             | DBT              | CORP              | US        |     24000 | PA      | $23362.77     | 0.00%             | 2032-08-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| Motion Finco Sarl                                     | Motion Finco Sarl 2024 USD Term Loan B                                           | CUSIP: 000000000<br>LEI: 2549002L1LBQZKA7UN30 | Long             | LON              | CORP              | LU        |     94006 | PA      | $84064.74     | 0.01%             | 2029-11-12      | Floating      | 7.50%                 | No            |                  2 | On Loan: No      |
| Garrett LX I SARL                                     | Garrett LX I SARL 2025 USD Term Loan B                                           | CUSIP: 36649XAG3<br>LEI: 549300LKYJ4RR1ELO069 | Long             | LON              | CORP              | LU        |      4975 | PA      | $4962.56      | 0.00%             | 2032-01-30      | Floating      | 6.31%                 | No            |                  2 | On Loan: No      |
| LGI HOMES INC                                         | LGI Homes Inc                                                                    | CUSIP: 50187TAK2<br>LEI: 549300W02B4WNV8CV109 | Long             | DBT              | CORP              | US        |     14000 | PA      | $13669.95     | 0.00%             | 2032-11-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ICAHN ENTERPRISES/FIN                                 | Icahn Enterprises LP / Icahn Enterprises Finance Corp                            | CUSIP: 451102CK1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     24000 | PA      | $24106.02     | 0.00%             | 2029-11-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| JELD-WEN INC                                          | JELD-WEN Inc                                                                     | CUSIP: 47580PAA1<br>LEI: 549300XWE6NM0N1HFW16 | Long             | DBT              | CORP              | US        |     10000 | PA      | $8444.78      | 0.00%             | 2032-09-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO                              | Clear Channel Outdoor Holdings Inc                                               | CUSIP: 18453HAF3<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |     74000 | PA      | $77701.92     | 0.01%             | 2030-04-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                              | Vistra Operations Co LLC                                                         | CUSIP: 92840VAR3<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |     24000 | PA      | $25101.04     | 0.00%             | 2032-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| CLARIV SCI HLD CORP                                   | Clarivate Science Holdings Corp                                                  | CUSIP: 18064PAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    108000 | PA      | $102063.10    | 0.02%             | 2029-07-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| MRO Parent Corporaton                                 | MRO Parent Corporaton Term Loan                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4259259 | PA      | $4225185.19   | 0.72%             | 2032-06-09      | Floating      | 8.62%                 | No            |                  3 | On Loan: No      |
| CZECHOSLOVAK GROUP                                    | Czechoslovak Group AS                                                            | CUSIP: 000000000<br>LEI: 315700SWFD7G70AVG768 | Long             | DBT              | CORP              | CZ        |    150000 | PA      | $183151.90    | 0.03%             | 2031-01-10      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| VIKING CRUISES LTD                                    | Viking Cruises Ltd                                                               | CUSIP: 92676XAH0<br>LEI: 549300IJP90T4MV2GL84 | Long             | DBT              | CORP              | BM        |     46000 | PA      | $46032.28     | 0.01%             | 2033-10-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ANB TIER 1 SUKUK CO LTD                               | ANB Tier 1 Sukuk Co Ltd                                                          | CUSIP: 000000000<br>LEI: 2549002ATOBA47FG6E54 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $200937.50    | 0.03%             | 2030-09-09      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| KAPLA HOLDING SAS                                     | Kapla Holding SAS                                                                | CUSIP: 000000000<br>LEI: 894500PJ28XTH66K4X83 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $237265.52    | 0.04%             | 2031-04-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEAMSYSTEM SPA                                        | TeamSystem SpA                                                                   | CUSIP: 000000000<br>LEI: 81560062081DF3AB7A90 | Long             | DBT              | CORP              | IT        |    100000 | PA      | $117745.80    | 0.02%             | 2031-07-31      | Floating      | 5.53%                 | No            |                  2 | On Loan: No      |
| DOMINION ENERGY INC                                   | Dominion Energy Inc                                                              | CUSIP: 25746UDV8<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |     10000 | PA      | $10349.28     | 0.00%             | 2055-05-15      | Fixed         | 6.63%                 | 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        |    306000 | PA      | $315726.21    | 0.05%             | 2031-03-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                | US 5YR NOTE (CBT) DEC25                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |       453 | NC      | $104179.11    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Fusion Holding Corp                                   | Fusion Holding Corp Term Loan                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    224776 | PA      | $219653.09    | 0.04%             | 2029-09-14      | Floating      | 10.25%                | No            |                  3 | On Loan: No      |
| Emrld Borrower LP                                     | EMRLD Borrower LP Term Loan B                                                    | CUSIP: 26872NAC3<br>LEI: 5493000GJYE7GAQCUC61 | Long             | LON              | CORP              | US        |    148970 | PA      | $148465.02    | 0.03%             | 2030-05-31      | Floating      | 6.45%                 | No            |                  2 | On Loan: No      |
| FIRSTUP INC                                           | Firstup Inc Amendment No 2 Term Loan                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    430047 | PA      | $426607.07    | 0.07%             | 2027-07-13      | Floating      | 10.75%                | No            |                  3 | On Loan: No      |
| CPI HOLDCO B LLC                                      | CPI Holdco B LLC 2024 Term Loan                                                  | CUSIP: 1261MAAB6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    137044 | PA      | $136872.57    | 0.02%             | 2031-05-19      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| Cook Park CLO, Ltd                                    | Cook Park CLO Ltd                                                                | CUSIP: 21623PAG2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $250475.80    | 0.04%             | 2030-04-17      | Floating      | 6.33%                 | No            |                  2 | On Loan: No      |
| Fleet Midco I Limited                                 | Fleet Midco I Limited 2024 1st Lien Term Loan B                                  | CUSIP: 33902UAD5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     17865 | PA      | $17865.00     | 0.00%             | 2031-02-21      | Floating      | 6.54%                 | No            |                  3 | On Loan: No      |
| SHIFT4 PAYMENTS LLC/FIN                               | Shift4 Payments LLC / Shift4 Payments Finance Sub Inc                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $122248.42    | 0.02%             | 2033-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ELLUCIAN HOLDINGS INC                                 | Ellucian Holdings Inc                                                            | CUSIP: 289178AA3<br>LEI: 549300RP8NIJ7FY7OS79 | Long             | DBT              | CORP              | US        |     49000 | PA      | $49779.98     | 0.01%             | 2029-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| G-3 Apollo Acquisition Corp.                          | G-3 Apollo Acquisition Corp Term Loan                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     66500 | PA      | $66367.00     | 0.01%             | 2031-03-10      | Floating      | 9.07%                 | No            |                  3 | On Loan: No      |
| MARKET BIDCO FINCO PLC                                | Market Bidco Finco PLC                                                           | CUSIP: 000000000<br>LEI: 549300UGYX6EBVHRVG53 | Long             | DBT              | CORP              | GB        |    131000 | PA      | $151874.82    | 0.03%             | 2031-01-31      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| RAVEN ACQUISITION HOLDINGS LLC                        | Raven Acquisition Holdings LLC Term Loan B                                       | CUSIP: 75419XAC8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     26853 | PA      | $26836.36     | 0.00%             | 2031-11-19      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| Suited Connector LLC                                  | Suited Connector LLC Term Loan                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2725365 | PA      | $1880502.19   | 0.32%             | 2027-12-01      | Floating      | 11.43%                | No            |                  3 | On Loan: No      |
| EMRLD BOR / EMRLD CO-ISS                              | EMRLD Borrower LP / Emerald Co-Issuer Inc                                        | CUSIP: 26873CAB8<br>LEI: 98450099EE3A0ZD5F786 | Long             | DBT              | CORP              | US        |     48000 | PA      | $49855.39     | 0.01%             | 2031-07-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CBI-Gator Acquisition LLC                             | CBI-Gator Acquisition LLC Term Loan                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2807610 | PA      | $2686882.52   | 0.46%             | 2027-10-25      | Floating      | 10.76%                | No            |                  3 | On Loan: No      |
| PACHELBEL BIDCO SPA                                   | Pachelbel Bidco SpA                                                              | CUSIP: 000000000<br>LEI: 8156005DA07CDD50CC46 | Long             | DBT              | CORP              | IT        |    100000 | PA      | $118280.58    | 0.02%             | 2031-05-17      | Floating      | 6.27%                 | No            |                  2 | On Loan: No      |
| LORCA TELECOM BONDCO                                  | Lorca Telecom Bondco SA                                                          | CUSIP: 000000000<br>LEI: 9598004HFBAS82YM7X35 | Long             | DBT              | CORP              | ES        |    294000 | PA      | $359223.96    | 0.06%             | 2029-04-30      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| FIBER MIDCO SPA                                       | Fiber Midco Spa                                                                  | CUSIP: 000000000<br>LEI: 8156000AFE5C06C4D309 | Long             | DBT              | CORP              | IT        |    100000 | PA      | $108532.94    | 0.02%             | 2029-06-15      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| PENNYMAC FIN SVCS INC                                 | PennyMac Financial Services Inc                                                  | CUSIP: 70932MAH0<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |     22000 | PA      | $22441.89     | 0.00%             | 2034-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Boxer Parent Company Inc                              | Boxer Parent Company Inc 2025 USD Term Loan B                                    | CUSIP: 05988HAQ0<br>LEI: 5493006T045HLTF7YX04 | Long             | LON              | CORP              | US        |    162185 | PA      | $161829.81    | 0.03%             | 2031-07-30      | Floating      | 7.20%                 | No            |                  2 | On Loan: No      |
| BCPE Pequod Buyer Inc                                 | BCPE Pequod Buyer Inc USD Term Loan B                                            | CUSIP: 05624AAB8<br>LEI: 254900HEEOS2IWC84V94 | Long             | LON              | CORP              | US        |     61845 | PA      | $61922.31     | 0.01%             | 2031-11-25      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| HUSKY INJECTION / TITAN                               | Husky Injection Molding Systems Ltd / Titan Co-Borrower LLC                      | CUSIP: 44805RAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |     76000 | PA      | $79434.51     | 0.01%             | 2029-02-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| RAND PARENT LLC                                       | Rand Parent LLC                                                                  | CUSIP: 753272AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     15000 | PA      | $15585.98     | 0.00%             | 2030-02-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| ON SEMICONDUCTOR CORP                                 | ON Semiconductor Corp                                                            | CUSIP: 682189AU9<br>LEI: ZV20P4CNJVT8V1ZGJ064 | Long             | DBT              | CORP              | US        |     16000 | PA      | $14762.74     | 0.00%             | 2029-03-01      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                                      | CSC Holdings LLC                                                                 | CUSIP: 126307BM8<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    200000 | PA      | $185151.58    | 0.03%             | 2028-05-15      | Fixed         | 11.25%                | No            |                  2 | On Loan: No      |
| Veritas US Inc                                        | Veritas US Inc 2024 Priority Term Loan                                           | CUSIP: 000000000<br>LEI: 549300RFUWCPWS8FQ104 | Long             | LON              | CORP              | US        |   4248277 | PA      | $4287233.41   | 0.73%             | 2029-12-09      | Floating      | 12.00%                | No            |                  2 | On Loan: No      |
| FTAI AVIATION INVESTORS                               | FTAI Aviation Investors LLC                                                      | CUSIP: 34960PAH4<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |      4000 | PA      | $4025.09      | 0.00%             | 2033-04-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| NRG Energy Inc                                        | NRG Energy Inc 2024 Term Loan                                                    | CUSIP: 62937NBC0<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | LON              | CORP              | US        |    163771 | PA      | $163720.68    | 0.03%             | 2031-04-16      | Floating      | 6.06%                 | No            |                  2 | On Loan: No      |
| SAZERAC COMPANY INC                                   | Sazerac Company Inc Term Loan B                                                  | CUSIP: 80583EAN6<br>LEI: 9QU0CG1O4LSOB6IFK895 | Long             | LON              | CORP              | US        |     52000 | PA      | $52289.12     | 0.01%             | 2032-07-09      | Floating      | 6.70%                 | No            |                  2 | On Loan: No      |
| SITUSAMC HOLDINGS CORPORATION                         | SitusAMC Holdings Corporation 2025 Incremental Term Loan                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4937181 | PA      | $4966804.40   | 0.84%             | 2031-05-14      | Floating      | 9.50%                 | No            |                  3 | On Loan: No      |
| Accuserve Solutions Inc                               | Accuserve Solutions Inc 2024 Incremental Term Loan                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    594922 | PA      | $575289.54    | 0.10%             | 2030-03-15      | Floating      | 9.48%                 | No            |                  3 | On Loan: No      |
| Air Canada                                            | Air Canada 2024 Term Loan B                                                      | CUSIP: 000000000<br>LEI: 4B4HI3CGXMBDC0G6BM51 | Long             | LON              | CORP              | CA        |     75790 | PA      | $75694.83     | 0.01%             | 2031-03-21      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| MAGNOLIA OIL GAS/MAG FIN                              | Magnolia Oil & Gas Operating LLC / Magnolia Oil & Gas Finance Corp               | CUSIP: 559665AB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     11000 | PA      | $11288.37     | 0.00%             | 2032-12-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| NOVELIS CORP                                          | Novelis Corp                                                                     | CUSIP: 670001AN6<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |     56000 | PA      | $56578.80     | 0.01%             | 2033-08-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| JP INTERMEDIATE B LLC                                 | JP Intermediate B LLC 2023 Revolver                                              | CUSIP: 000000000<br>LEI: 549300PC0CHCVUMNS121 | Long             | LON              | CORP              | US        |    379909 | PA      | $10922.39     | 0.00%             | 2027-08-12      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| Asurion LLC                                           | Asurion LLC 2023 Term Loan B11                                                   | CUSIP: 04649VBC3<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |     59221 | PA      | $59389.39     | 0.01%             | 2028-08-19      | Floating      | 8.51%                 | No            |                  2 | On Loan: No      |
| NOBLE FINANCE II LLC                                  | Noble Finance II LLC                                                             | CUSIP: 65505PAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      2000 | PA      | $2070.12      | 0.00%             | 2030-04-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| RLGH FINANCE BERMUDA LTD                              | RLGH Finance Bermuda Ltd                                                         | CUSIP: 000000000<br>LEI: 549300JARQYXR76TRX40 | Long             | DBT              | CORP              | BM        |    275000 | PA      | $293393.31    | 0.05%             | 2035-07-02      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                                          | Enbridge Inc                                                                     | CUSIP: 29250NCF0<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |     15000 | PA      | $15906.42     | 0.00%             | 2054-06-27      | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| TMK Hawk Parent Corp                                  | TMK Hawk Parent Corp 2024 PIK Term Loan                                          | CUSIP: 87258WAW5<br>LEI: 5493005BF4TIZRN1TY89 | Long             | LON              | CORP              | US        |      1407 | PA      | $0.00         | 0.00%             | 2031-12-15      | Fixed         | 11.00%                | No            |                  3 | On Loan: No      |
| EDELMAN FINANCIAL CENTER LLC                          | Edelman Financial Center LLC 2024 Term Loan                                      | CUSIP: 27943UAM8<br>LEI: 549300Z31KZXNP05U733 | Long             | LON              | CORP              | US        |     67485 | PA      | $67509.09     | 0.01%             | 2028-04-07      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| SINCLAIR TELEVISION GROU                              | Sinclair Television Group Inc                                                    | CUSIP: 829259BH2<br>LEI: 549300CQGEN0CH65UD62 | Long             | DBT              | CORP              | US        |     39000 | PA      | $40024.53     | 0.01%             | 2033-02-15      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| GATES CORPORATION/DE                                  | Gates Corp/DE                                                                    | CUSIP: 367398AA2<br>LEI: 984500F43C791F4C7894 | Long             | DBT              | CORP              | US        |     22000 | PA      | $22828.30     | 0.00%             | 2029-07-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Honey Intermediate Inc                                | Honey Intermediate Inc Term Loan                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     91302 | PA      | $89841.55     | 0.02%             | 2031-09-30      | Floating      | 7.04%                 | No            |                  3 | On Loan: No      |
| H-Food Holdings LLC                                   | H-Food Holdings LLC 2025 Exit Term Loan                                          | CUSIP: 000000000<br>LEI: 549300JY2LK0EQ95YT44 | Long             | LON              | CORP              | US        |     11653 | PA      | $11759.36     | 0.00%             | 2030-03-29      | Floating      | 10.81%                | No            |                  2 | On Loan: No      |
| KASIKORNBANK PCL HK                                   | Kasikornbank PCL/Hong Kong                                                       | CUSIP: 000000000<br>LEI: 5493004COSQ54937AW41 | Long             | DBT              | CORP              | TH        |    200000 | PA      | $196342.00    | 0.03%             | 2031-10-02      | Fixed         | 3.34%                 | No            |                  2 | On Loan: No      |
| BAYER AG                                              | Bayer AG                                                                         | CUSIP: 000000000<br>LEI: 549300J4U55H3WP1XT59 | Long             | DBT              | CORP              | DE        |    400000 | PA      | $482556.23    | 0.08%             | 2082-03-25      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Garda World Security Corporation                      | Garda World Security Corporation 2025 Term Loan B                                | CUSIP: 000000000<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | LON              | CORP              | CA        |     97761 | PA      | $97737.03     | 0.02%             | 2029-02-01      | Floating      | 7.17%                 | No            |                  2 | On Loan: No      |
| UNIPOL ASSICURAZIONI SPA                              | Unipol Assicurazioni SpA                                                         | CUSIP: 000000000<br>LEI: 8156005CE5E7340CCA86 | Long             | DBT              | CORP              | IT        |    100000 | PA      | $123629.05    | 0.02%             | 2034-05-23      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| MANAPPURAM FINANCE LTD                                | Manappuram Finance Ltd                                                           | CUSIP: 000000000<br>LEI: 335800JL5WTUSKOSPN77 | Long             | DBT              | CORP              | IN        |    200000 | PA      | $204500.00    | 0.03%             | 2028-05-12      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| NORTHERN OIL & GAS INC                                | Northern Oil & Gas Inc                                                           | CUSIP: 665531AL3<br>LEI: OKFF0PIZDDMNH4UCYE51 | Long             | DBT              | CORP              | US        |     36000 | PA      | $35857.56     | 0.01%             | 2033-10-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| GARDA WORLD SECURITY                                  | Garda World Security Corp                                                        | CUSIP: 36485MAP4<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | DBT              | CORP              | CA        |     67000 | PA      | $69547.79     | 0.01%             | 2032-11-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| GTCR EVEREST BORROWER LLC                             | GTCR Everest Borrower LLC Add on Term Loan B                                     | CUSIP: 36269YAD7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     23940 | PA      | $23938.08     | 0.00%             | 2031-09-05      | Floating      | 6.75%                 | No            |                  2 | On Loan: No      |
| EMBURSE INC                                           | Emburse Inc Term Loan                                                            | CUSIP: 29081UAE4<br>LEI: 254900S7YGF4KOG3HP83 | Long             | LON              | CORP              | US        |   3684211 | PA      | $3698947.37   | 0.63%             | 2032-05-28      | Floating      | 8.25%                 | No            |                  3 | On Loan: No      |
| INEOS QUATTRO FINANCE 2                               | INEOS Quattro Finance 2 Plc                                                      | CUSIP: 000000000<br>LEI: 213800V48W4Y5MT5Q131 | Long             | DBT              | CORP              | GB        |    104000 | PA      | $122066.12    | 0.02%             | 2029-03-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Express Wash Acquisition Company, LLC                 | Express Wash Acquisition Company LLC 2025 Term Loan                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4722231 | PA      | $4646675.08   | 0.79%             | 2031-04-10      | Floating      | 10.58%                | No            |                  3 | On Loan: No      |
| THAMES WATER UTILITIES FINANCE PLC                    | Thames Water Utilities Finance PLC                                               | CUSIP: 000000000<br>LEI: 213800ESMPQ4RQ7G8351 | Long             | DBT              | CORP              | GB        |    400000 | PA      | $327248.25    | 0.06%             | 2029-04-18      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                                          | Enbridge Inc                                                                     | CUSIP: 29250NBZ7<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    530000 | PA      | $591878.69    | 0.10%             | 2053-11-15      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| Altice France SA                                      | Altice France SA 2023 USD Term Loan B14                                          | CUSIP: 000000000<br>LEI: 5493001ZMCICV4N02J21 | Long             | LON              | CORP              | FR        |   3903100 | PA      | $3766491.15   | 0.64%             | 2028-08-15      | Floating      | 9.82%                 | No            |                  3 | On Loan: No      |
| BANK OF EAST ASIA LTD                                 | Bank of East Asia Ltd/The                                                        | CUSIP: 000000000<br>LEI: CO6GC26LCGGRTUESIP55 | Long             | DBT              | CORP              | HK        |    250000 | PA      | $249180.00    | 0.04%             | 2032-04-22      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                              | Hilcorp Energy I LP / Hilcorp Finance Co                                         | CUSIP: 431318BE3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     25000 | PA      | $24036.24     | 0.00%             | 2034-05-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| MAYA SAS/FRANCE                                       | Maya SAS/Paris France                                                            | CUSIP: 449691AC8<br>LEI: 9695009PXA7OI9NXN582 | Long             | DBT              | CORP              | FR        |    289000 | PA      | $293632.79    | 0.05%             | 2028-10-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| WOOF HOLDINGS INC                                     | WOOF Holdings Inc 2025 First Out Exchange Term Loan                              | CUSIP: 95004UAB5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      9047 | PA      | $7162.10      | 0.00%             | 2029-12-31      | Floating      | 7.95%                 | No            |                  2 | On Loan: No      |
| APH/APH2/APH3/AQUARIAN                                | APH Somerset Investor 2 LLC / APH2 Somerset Investor 2 LLC / APH3 Somerset Inves | CUSIP: 00188QAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     17000 | PA      | $17741.54     | 0.00%             | 2029-11-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Dynasty Acquisition Co Inc                            | Dynasty Acquisition Co Inc 2024 1st Lien Term Loan B2                            | CUSIP: 26812CAP1<br>LEI: 549300L1RCRPOAUCB870 | Long             | LON              | CORP              | US        |     43281 | PA      | $43278.63     | 0.01%             | 2031-10-31      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| SPECTRIS PLC                                          | SPECTRIS PLC USD TERM LOAN                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     12000 | PA      | $12015.00     | 0.00%             | 2032-09-24      | Floating      | 6.89%                 | No            |                  3 | On Loan: No      |
| NGL ENRGY OP/FIN CORP                                 | NGL Energy Operating LLC / NGL Energy Finance Corp                               | CUSIP: 62922LAC2<br>LEI: 5299005YSRP46BE8Z459 | Long             | DBT              | CORP              | US        |     20000 | PA      | $20506.36     | 0.00%             | 2029-02-15      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| AMYNTA AGENCY/WARRANTY                                | Amynta Agency Borrower Inc and Amynta Warranty Borrower Inc                      | CUSIP: 03238AAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     25000 | PA      | $25591.15     | 0.00%             | 2033-07-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| SOMNIGROUP INTERNATIONAL INC                          | Somnigroup International Inc Term Loan B                                         | CUSIP: 88025BAP6<br>LEI: 549300HFEKVR3US71V91 | Long             | LON              | CORP              | US        |     27265 | PA      | $27400.87     | 0.00%             | 2031-10-24      | Floating      | 6.37%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE MORTGAGE TR                                | Blackstone Mortgage Trust Inc                                                    | CUSIP: 09257WAD2<br>LEI: 549300OLDJ20R2Y2UW20 | Long             | DBT              |  | US        |     10000 | PA      | $9762.61      | 0.00%             | 2027-01-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| BEAZER HOMES USA                                      | Beazer Homes USA Inc                                                             | CUSIP: 07556QBR5<br>LEI: 549300DUPYT2T0F60I45 | Long             | DBT              | CORP              | US        |      4000 | PA      | $3997.50      | 0.00%             | 2027-10-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP                                             | Sunoco LP                                                                        | CUSIP: 86765KAG4<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |     10000 | PA      | $9913.42      | 0.00%             | 2034-03-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ARCHROCK PARTNERS LP/FIN                              | Archrock Partners LP / Archrock Partners Finance Corp                            | CUSIP: 03959KAD2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     35000 | PA      | $35902.37     | 0.01%             | 2032-09-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| ZELIS PAYMENTS BUYER INC                              | Zelis Payments Buyer Inc 5th Amendment Term Loan                                 | CUSIP: 98932TAH6<br>LEI: 549300U8NGLZN5R1Y309 | Long             | LON              | CORP              | US        |    101490 | PA      | $101439.26    | 0.02%             | 2031-11-26      | Floating      | 7.41%                 | No            |                  2 | On Loan: No      |
| MAGNERA CORP                                          | Magnera Corp                                                                     | CUSIP: 55939AAA5<br>LEI: 549300LDQLQBT38QDY28 | Long             | DBT              | CORP              | US        |     10000 | PA      | $9409.80      | 0.00%             | 2031-11-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| VOLKSWAGEN INTL FIN NV                                | Volkswagen International Finance NV                                              | CUSIP: 000000000<br>LEI: 5299004PWNHKYTR23649 | Long             | DBT              | CORP              | NL        |    100000 | PA      | $121839.63    | 0.02%             | 2033-11-15      | Fixed         | 5.99%                 | No            |                  2 | On Loan: No      |
| CHOBANI LLC/FINANCE CORP                              | Chobani LLC / Chobani Finance Corp Inc                                           | CUSIP: 17027NAC6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    149000 | PA      | $155369.30    | 0.03%             | 2029-07-01      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| Patriot Home Care                                     | Patriot Home Care Term Loan                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2874905 | PA      | $2822792.18   | 0.48%             | 2028-05-05      | Floating      | 10.20%                | No            |                  3 | On Loan: No      |
| TRANSDIGM INC                                         | TransDigm Inc 2024 Term Loan L                                                   | CUSIP: 89364MCD4<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | LON              | CORP              | US        |     87120 | PA      | $87059.89     | 0.01%             | 2032-01-19      | Floating      | 6.50%                 | No            |                  2 | On Loan: No      |
| BOOTS GROUP FINCO LP                                  | Boots Group Finco LP                                                             | CUSIP: 000000000<br>LEI: 254900YVLYOVF1PF1N93 | Long             | DBT              | CORP              | US        |    100000 | PA      | $120781.03    | 0.02%             | 2032-08-31      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Integratecom Inc                                      | Integratecom Inc Term Loan                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1621802 | PA      | $1559373.16   | 0.27%             | 2027-12-15      | Floating      | 10.90%                | No            |                  3 | On Loan: No      |
| STONEGATE PUB FIN                                     | Stonegate Pub Co Financing 2019 PLC                                              | CUSIP: 000000000<br>LEI: 254900L5266ML3505282 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $115698.20    | 0.02%             | 2029-07-31      | Floating      | 8.66%                 | No            |                  2 | On Loan: No      |
| RHP Hotel Properties LP                               | RHP Hotel Properties LP 2024 1st Lien Term Loan B                                | CUSIP: 74958NAL0<br>LEI: 549300SJMSMA2471GA96 | Long             | LON              |  | US        |     31965 | PA      | $31938.33     | 0.01%             | 2030-05-20      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| ASTRA ACQUISITION CORP                                | Astra Acquisition Corp 2024 Term Loan B                                          | CUSIP: 04629UAR7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3791343 | PA      | $9478.36      | 0.00%             | 2028-10-25      | Floating      | 9.58%                 | No            |                  2 | On Loan: No      |
| Ensemble RCM LLC                                      | Ensemble RCM LLC 2024 Term Loan B                                                | CUSIP: 29359BAE1<br>LEI: 254900PDXJVVI20WAQ37 | Long             | LON              | CORP              | US        |     74471 | PA      | $74628.72     | 0.01%             | 2029-08-01      | Floating      | 7.31%                 | No            |                  2 | On Loan: No      |
| STENA INTERNATIONAL SA                                | Stena International SA                                                           | CUSIP: 85858EAD5<br>LEI: 213800A4LTGG4W55QP46 | Long             | DBT              | CORP              | LU        |    200000 | PA      | $203903.80    | 0.03%             | 2031-01-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| PENNYMAC FIN SVCS INC                                 | PennyMac Financial Services Inc                                                  | CUSIP: 70932MAE7<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |     18000 | PA      | $18742.72     | 0.00%             | 2030-11-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| GRAND CITY PROPERTIES SA                              | Grand City Properties SA                                                         | CUSIP: 000000000<br>LEI: 5299002QLUYKK2WBMB18 | Long             | DBT              | CORP              | LU        |    100000 | PA      | $114811.68    | 0.02%             | 2026-03-09      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| SOFTBANK GROUP CORP                                   | SoftBank Group Corp                                                              | CUSIP: 000000000<br>LEI: 5493003BZYYYCDIO0R13 | Long             | DBT              | CORP              | JP        |    100000 | PA      | $121057.34    | 0.02%             | 2029-10-10      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ENPRO INC                                             | Enpro Inc                                                                        | CUSIP: 29355XAH0<br>LEI: 549300Y5CFT2LKCFDN54 | Long             | DBT              | CORP              | US        |     12000 | PA      | $12264.52     | 0.00%             | 2033-06-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| INTRUM INV AND FIN                                    | Intrum Investments And Financing AB                                              | CUSIP: 000000000<br>LEI: 984500D7B1EFD7460452 | Long             | DBT              | CORP              | SE        |     49249 | PA      | $53339.63     | 0.01%             | 2027-09-11      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Caesars Entertainment Inc                             | Caesars Entertainment Inc 2024 Term Loan B1                                      | CUSIP: 12768EAH9<br>LEI: 549300FA4CTCW903Y781 | Long             | LON              | CORP              | US        |    205065 | PA      | $204382.28    | 0.03%             | 2031-02-06      | Floating      | 6.41%                 | No            |                  2 | On Loan: No      |
| CENTERPOINT ENERGY INC                                | CenterPoint Energy Inc                                                           | CUSIP: 15189TBJ5<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | DBT              | CORP              | US        |      6000 | PA      | $6364.22      | 0.00%             | 2055-02-15      | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO                              | Clear Channel Outdoor Holdings Inc                                               | CUSIP: 18453HAD8<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |     66000 | PA      | $64100.08     | 0.01%             | 2029-06-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| DUOMO BIDCO SPA                                       | Duomo Bidco SpA                                                                  | CUSIP: 000000000<br>LEI: 8156008BEDB552B30829 | Long             | DBT              | CORP              | IT        |    128000 | PA      | $151177.61    | 0.03%             | 2031-07-15      | Floating      | 6.15%                 | No            |                  2 | On Loan: No      |
| Asplundh Tree Expert LLC                              | Asplundh Tree Expert LLC 2021 Term Loan B                                        | CUSIP: 04538FAD1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     59514 | PA      | $59483.17     | 0.01%             | 2027-09-07      | Floating      | 6.01%                 | No            |                  2 | On Loan: No      |
| BIOCON BIOLOGICS GLOBAL                               | Biocon Biologics Global PLC                                                      | CUSIP: 000000000<br>LEI: 254900PMQN51VACG2D55 | Long             | DBT              | CORP              | GB        |    400000 | PA      | $385796.00    | 0.07%             | 2029-10-09      | Fixed         | 6.67%                 | No            |                  2 | On Loan: No      |
| Options Clearing Corp.                                | ISHARES RUSSELL 2000 ETF                                                         | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -841 | NC      | $-841.00      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| EUROBANK ERG SVCS HLDGS                               | Eurobank Ergasias Services and Holdings SA                                       | CUSIP: 000000000<br>LEI: JEUVK5RWVJEN8W0C9M24 | Long             | DBT              | CORP              | GR        |    100000 | PA      | $118185.26    | 0.02%             | 2035-04-30      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| MEDLINE BORROWER LP                                   | Medline Borrower LP                                                              | CUSIP: 62482BAB8<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |    285000 | PA      | $282535.66    | 0.05%             | 2029-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| GC WAVES HOLDINGS INC                                 | GC Waves Holdings Inc 2024 Replacing Term Loan                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3848118 | PA      | $3848118.02   | 0.65%             | 2030-10-04      | Floating      | 9.01%                 | No            |                  3 | On Loan: No      |
| FINASTRA USA INC                                      | FINASTRA USA INC 2025 1st LIEN TERM LOAN                                         | CUSIP: 31772YAD8<br>LEI: 549300ZB2RO6QC7YTK71 | Long             | LON              | CORP              | US        |    195000 | PA      | $194095.20    | 0.03%             | 2032-09-15      | Floating      | 8.04%                 | No            |                  2 | On Loan: No      |
| CLEVER DEVICES LTD                                    | Clever Devices Ltd Term Loan                                                     | CUSIP: 000000000<br>LEI: 549300AQXGWXIDMXEI81 | Long             | LON              | CORP              | US        |   2630121 | PA      | $2651162.04   | 0.45%             | 2030-06-12      | Floating      | 10.16%                | No            |                  3 | 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        |     10000 | PA      | $10490.03     | 0.00%             | 2032-05-31      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                 | Wells Fargo & Co                                                                 | CUSIP: 95002YAC7<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |     16000 | PA      | $16814.24     | 0.00%             | 2029-09-15      | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| BCP V MODULAR SERVICES                                | BCP V Modular Services Finance PLC                                               | CUSIP: 000000000<br>LEI: 213800K8U94KVZL98H64 | Long             | DBT              | CORP              | GB        |    129000 | PA      | $113546.02    | 0.02%             | 2029-11-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| STANDARD BUILDING SOLUTI                              | Standard Building Solutions Inc                                                  | CUSIP: 853191AA2<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |     17000 | PA      | $17442.36     | 0.00%             | 2032-08-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Avantor Funding Inc                                   | Avantor Funding Inc 2024 Term Loan B6                                            | CUSIP: 05350NAP9<br>LEI: 5493003VM0XB4U8YD238 | Long             | LON              | CORP              | US        |      5323 | PA      | $5343.03      | 0.00%             | 2027-11-08      | Floating      | 6.26%                 | No            |                  2 | On Loan: No      |
| BAUSCH HEALTH COS INC                                 | Bausch Health Cos Inc                                                            | CUSIP: 071734AN7<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |      4000 | PA      | $3580.00      | 0.00%             | 2028-06-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Howden Group Holdings Ltd                             | Howden Group Holdings Ltd 2024 USD Term Loan B                                   | CUSIP: 000000000<br>LEI: 875500V3HPKZIQP10J32 | Long             | LON              | CORP              | GB        |      8954 | PA      | $8945.66      | 0.00%             | 2030-04-18      | Floating      | 7.66%                 | No            |                  2 | On Loan: No      |
| HOWARD MIDSTREAM ENERGY                               | Howard Midstream Energy Partners LLC                                             | CUSIP: 442722AD6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     23000 | PA      | $23450.23     | 0.00%             | 2034-01-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Kellermeyer Bergensons Services LLC                   | Kellermeyer Bergensons Services LLC 2023 6th Amendment Term Loan                 | CUSIP: 000000000<br>LEI: 54930034MXTH6MFOLN53 | Long             | LON              | CORP              | US        |    169619 | PA      | $88880.60     | 0.02%             | 2028-11-06      | Floating      | 6.00%                 | No            |                  3 | On Loan: No      |
| TGNR INTERMEDIATE HOLDIN                              | TGNR Intermediate Holdings LLC                                                   | CUSIP: 77289KAA3<br>LEI: 5493007AZNVKZ5HEMT23 | Long             | DBT              | CORP              | US        |      3000 | PA      | $2935.63      | 0.00%             | 2029-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GRAY MEDIA INC                                        | Gray Media Inc                                                                   | CUSIP: 389375AN6<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |     32000 | PA      | $32692.42     | 0.01%             | 2032-07-15      | Fixed         | 9.63%                 | No            |                  2 | On Loan: No      |
| JETBLUE AIRWAYS/LOYALTY                               | JetBlue Airways Corp / JetBlue Loyalty LP                                        | CUSIP: 476920AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |     25000 | PA      | $25356.80     | 0.00%             | 2031-09-20      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| HERTZ CORP/THE                                        | Hertz Corp/The                                                                   | CUSIP: 428040DC0<br>LEI: 549300PD0C69OJ0NLB27 | Long             | DBT              | CORP              | US        |      9000 | PA      | $9541.32      | 0.00%             | 2029-07-15      | Fixed         | 12.63%                | No            |                  2 | On Loan: No      |
| OLYMPUS WTR US HLDG CORP                              | Olympus Water US Holding Corp                                                    | CUSIP: 000000000<br>LEI: 549300YU2GGVCBN3MY89 | Long             | DBT              | CORP              | US        |    106000 | PA      | $124745.65    | 0.02%             | 2033-02-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| BANCO BILBAO VIZCAYA ARG                              | Banco Bilbao Vizcaya Argentaria SA                                               | CUSIP: 000000000<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | DBT              | CORP              | ES        |    200000 | PA      | $253495.38    | 0.04%             | 2030-12-13      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| WEC US Holdings Ltd                                   | WEC US Holdings Ltd 2024 Term Loan                                               | CUSIP: 92943LAC4<br>LEI: 5493002M6GRSU1IWMG57 | Long             | LON              | CORP              | US        |     93299 | PA      | $93324.64     | 0.02%             | 2031-01-27      | Floating      | 6.53%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                | US 10YR NOTE (CBT)DEC25                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |      -298 | NC      | $-239866.80   | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Bryant Park Funding Ltd                               | Bryant Park Funding 2024-22 Ltd                                                  | CUSIP: 11766CAG9<br>LEI: 5493000N8L82QL1KEO96 | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1510834.95   | 0.26%             | 2037-04-15      | Floating      | 6.92%                 | No            |                  2 | On Loan: No      |
| Taylor Morrison Home Corp                             | Taylor Morrison Home Corp                                                        | CUSIP: 87724P106<br>LEI: 5299009UDLLGLKOOJE30 | Long             | EC               | CORP              | US        |     46000 | NS      | $3036460.00   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Sabre GLBL Inc                                        | Sabre GLBL Inc 2021 Term Loan B2                                                 | CUSIP: 78571YBF6<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | LON              | CORP              | US        |      3314 | PA      | $3131.63      | 0.00%             | 2027-12-17      | Floating      | 7.78%                 | No            |                  2 | On Loan: No      |
| B&G FOODS INC                                         | B&G Foods Inc                                                                    | CUSIP: 05508WAC9<br>LEI: 549300TRW1LZMDJZAQ78 | Long             | DBT              | CORP              | US        |      7000 | PA      | $6782.38      | 0.00%             | 2028-09-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| SCHAEFFLER AG                                         | SCHAEFFLER AG                                                                    | CUSIP: 000000000<br>LEI: 549300Q7E782X7GC1P43 | Long             | DBT              | CORP              | DE        |    100000 | PA      | $122935.70    | 0.02%             | 2031-04-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| HSI HALO ACQUISITION INC                              | HSI Halo Acquisition Inc 2024 Term Loan                                          | CUSIP: 40444TAC0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2294587 | PA      | $2312943.85   | 0.39%             | 2031-06-30      | Floating      | 9.00%                 | No            |                  3 | On Loan: No      |
| MSM Acquisitions Inc                                  | MSM Acquisitions Inc Term Loan                                                   | CUSIP: 83089HAB8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1090839 | PA      | $969755.69    | 0.16%             | 2026-12-09      | Floating      | 10.20%                | No            |                  3 | On Loan: No      |
| LEVEL 3 FINANCING INC                                 | Level 3 Financing Inc                                                            | CUSIP: 527298CB7<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |     77000 | PA      | $72387.70     | 0.01%             | 2029-06-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| CACI INTERNATIONAL INC                                | CACI International Inc                                                           | CUSIP: 127190AE6<br>LEI: SYRPI2D1O9WRTS2WX210 | Long             | DBT              | CORP              | US        |     26000 | PA      | $26820.32     | 0.00%             | 2033-06-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| TruGreen Limited Partnership                          | TruGreen Limited Partnership 2020 Term Loan                                      | CUSIP: 89787RAH5<br>LEI: 549300QNRP2MNHR3QM19 | Long             | LON              | CORP              | US        |     18063 | PA      | $17709.16     | 0.00%             | 2027-11-02      | Floating      | 8.26%                 | No            |                  2 | On Loan: No      |
| NIDDA HEALTHCARE HOLDING                              | Nidda Healthcare Holding GmbH                                                    | CUSIP: 000000000<br>LEI: 549300Q89C4WAO6L0L19 | Long             | DBT              | CORP              | DE        |    277000 | PA      | $339019.21    | 0.06%             | 2030-02-21      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Terraboost Media                                      | Terraboost Media Term Loan                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2500902 | PA      | $2475892.82   | 0.42%             | 2026-08-21      | Fixed         | 10.98%                | No            |                  3 | On Loan: No      |
| Propulsion (BC) Finco S.a.r.l.                        | Propulsion (BC) Finco Sarl 2025 Term Loan B                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     10835 | PA      | $10867.02     | 0.00%             | 2029-09-14      | Floating      | 7.04%                 | No            |                  2 | On Loan: No      |
| LUNA 1.5 SARL                                         | Luna 1.5 Sarl                                                                    | CUSIP: 000000000<br>LEI: 64884UZ60Y77J5XK5C41 | Long             | DBT              | CORP              | LU        |    124000 | PA      | $150863.28    | 0.03%             | 2032-07-01      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| KRUNG THAI BANK/CAYMAN                                | Krung Thai Bank PCL/Cayman Islands                                               | CUSIP: 000000000<br>LEI: 54930007ZQMYCRFQGE36 | Long             | DBT              | CORP              | TH        |    200000 | PA      | $198875.00    | 0.03%             | 2026-03-25      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| SPRINGS WINDOWS FASHIONS LLC                          | Springs Windows Fashions LLC 2024 First Lien Second Out TL A2                    | CUSIP: 78489HAE8<br>LEI: 5493000CMZKPQ7BKPB20 | Long             | LON              | CORP              | US        |     26855 | PA      | $21846.52     | 0.00%             | 2028-10-06      | Floating      | 8.28%                 | No            |                  2 | On Loan: No      |
| MILLROSE PROPERTIES INC                               | Millrose Properties Inc                                                          | CUSIP: 601137AB8<br>LEI: N/A                  | Long             | DBT              |  | US        |     21000 | PA      | $21054.89     | 0.00%             | 2032-09-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BRAND INDUSTRIAL SERVICE                              | Brand Industrial Services Inc                                                    | CUSIP: 104931AA8<br>LEI: 549300B658W2BPDQMW42 | Long             | DBT              | CORP              | US        |    126000 | PA      | $125598.43    | 0.02%             | 2030-08-01      | Fixed         | 10.38%                | No            |                  2 | On Loan: No      |
| CIENA CORPORATION                                     | Ciena Corporation 2025 Repriced Term Loan B                                      | CUSIP: 17178HAR3<br>LEI: W0CZ7N0GH8UIGXDM1H41 | Long             | LON              | CORP              | US        |     71668 | PA      | $71713.62     | 0.01%             | 2030-10-24      | Floating      | 5.89%                 | No            |                  2 | On Loan: No      |
| Core & Main LP                                        | Core & Main LP 2024 Term Loan E                                                  | CUSIP: 40416VAH8<br>LEI: 549300ZSLF8Q660SCD17 | Long             | LON              | CORP              | US        |     34477 | PA      | $34369.41     | 0.01%             | 2031-02-09      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| PRYSMIAN SPA                                          | Prysmian SpA                                                                     | CUSIP: 000000000<br>LEI: 529900X0H1IO3RS1A464 | Long             | DBT              | CORP              | IT        |    175000 | PA      | $214322.36    | 0.04%             | 2030-05-21      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                         | Carnival Corp                                                                    | CUSIP: 143658BX9<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |     58000 | PA      | $59452.09     | 0.01%             | 2033-02-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| NEP/NCP Holdco Inc                                    | NEP/NCP Holdco Inc 2018 2nd Lien Term Loan                                       | CUSIP: 62908HAB1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    141190 | PA      | $135542.41    | 0.02%             | 2026-10-19      | Floating      | 11.46%                | No            |                  3 | On Loan: No      |
| Charter NEX US, Inc.                                  | Charter NEX US Inc 2024 Term Loan B1                                             | CUSIP: 16125TAM4<br>LEI: 549300KRNU8RNVGYXG75 | Long             | LON              | CORP              | US        |    181483 | PA      | $181978.77    | 0.03%             | 2030-11-29      | Floating      | 6.93%                 | No            |                  2 | On Loan: No      |
| ELIOR GROUP SA                                        | Elior Group SA                                                                   | CUSIP: 000000000<br>LEI: 969500LYSYS0E800SQ95 | Long             | DBT              | CORP              | FR        |    110000 | PA      | $132325.91    | 0.02%             | 2030-03-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| GRUENENTHAL GMBH                                      | Gruenenthal GmbH                                                                 | CUSIP: 000000000<br>LEI: 529900SH895E31PGLA72 | Long             | DBT              | CORP              | DE        |    226000 | PA      | $270908.76    | 0.05%             | 2031-11-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| STANDARD BUILDING SOLUTI                              | Standard Building Solutions Inc                                                  | CUSIP: 853191AC8<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |     47000 | PA      | $47629.10     | 0.01%             | 2033-08-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Organon & Co                                          | Organon & Co 2024 USD Term Loan                                                  | CUSIP: 68621XAG8<br>LEI: 549300AMCKY57OK2CO56 | Long             | LON              | CORP              | US        |     23787 | PA      | $23162.69     | 0.00%             | 2031-05-19      | Floating      | 6.41%                 | No            |                  2 | On Loan: No      |
| GARDA WORLD SECURITY                                  | Garda World Security Corp                                                        | CUSIP: 36485MAN9<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | DBT              | CORP              | CA        |     62000 | PA      | $64268.77     | 0.01%             | 2032-08-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Palmdale Oil Company LLC                              | Palmdale Oil Company LLC Term Loan                                               | CUSIP: 69674FAB2<br>LEI: 5493007F3CPZV0Z79E95 | Long             | LON              | CORP              | US        |     98500 | PA      | $98500.00     | 0.02%             | 2029-10-02      | Floating      | 10.90%                | No            |                  3 | On Loan: No      |
| MKS Instruments Inc                                   | MKS Instruments Inc 2025 USD Repriced Term Loan                                  | CUSIP: 55314NAZ7<br>LEI: 549300KEQATBHAGVF505 | Long             | LON              | CORP              | US        |    113032 | PA      | $112914.22    | 0.02%             | 2029-08-17      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| Wharf Street Rating Acquisition LLC                   | Wharf Street Rating Acquisition LLC  2025 Term Loan                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2454545 | PA      | $2430000.01   | 0.41%             | 2032-09-16      | Floating      | 8.91%                 | No            |                  2 | On Loan: No      |
| Kid Distro Holdings, LLC                              | Kid Distro Holdings LLC 2023 Incremental Term Loan                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    354251 | PA      | $354250.70    | 0.06%             | 2027-10-01      | Floating      | 9.20%                 | No            |                  3 | On Loan: No      |
| Bullhorn Inc                                          | Bullhorn Inc 2020 Term Loan                                                      | CUSIP: 12022JAC1<br>LEI: 549300GYR0T2960RHV38 | Long             | LON              | CORP              | US        |   4063991 | PA      | $4033511.25   | 0.69%             | 2029-10-01      | Floating      | 9.16%                 | No            |                  3 | On Loan: No      |
| SERVICE KING (CARNELIAN POINT)                        | SERVICE KING (CARNELIAN POINT)                                                   | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               |  | US        |       129 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| HA SUSTAINABLE INF CAP                                | HA Sustainable Infrastructure Capital Inc                                        | CUSIP: 41068XAF7<br>LEI: 254900ZZRL7MWL1X8E92 | Long             | DBT              | CORP              | US        |      6000 | PA      | $6106.36      | 0.00%             | 2034-07-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Pueblo Mechanical and Controls LLC                    | Pueblo Mechanical and Controls LLC 2022 Term Loan                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    703250 | PA      | $695485.71    | 0.12%             | 2028-08-23      | Floating      | 9.00%                 | No            |                  3 | On Loan: No      |
| EXCELERATE ENERGY LP                                  | Excelerate Energy LP                                                             | CUSIP: 30069UAA6<br>LEI: LGL4IE90TNTFYJ55BK06 | Long             | DBT              | CORP              | US        |     13000 | PA      | $13838.10     | 0.00%             | 2030-05-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| CLARIV SCI HLD CORP                                   | Clarivate Science Holdings Corp                                                  | CUSIP: 18064PAC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     12000 | PA      | $11548.23     | 0.00%             | 2028-07-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Ontario Gaming GTA LP                                 | Ontario Gaming GTA LP Term Loan B                                                | CUSIP: 000000000<br>LEI: 894500EC9KLZLOC3V025 | Long             | LON              | CORP              | CA        |     24975 | PA      | $24330.83     | 0.00%             | 2030-08-01      | Floating      | 8.24%                 | No            |                  2 | On Loan: No      |
| Sedgwick Claims Management Services Inc               | Sedgwick Claims Management Services Inc 2023 Term Loan B                         | CUSIP: 81527CAP2<br>LEI: 549300BIN4DWJG5VWF64 | Long             | LON              | CORP              | US        |    178884 | PA      | $178604.86    | 0.03%             | 2031-07-31      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| Aras Corporation                                      | Aras Corporation Term Loan                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3574322 | PA      | $3602916.83   | 0.61%             | 2029-04-13      | Floating      | 9.00%                 | No            |                  3 | On Loan: No      |
| DIVERSIFIED HEALTHCARE T                              | Diversified Healthcare Trust                                                     | CUSIP: 81721MAM1<br>LEI: N/A                  | Long             | DBT              |  | US        |   8637000 | PA      | $8234051.99   | 1.40%             | 2028-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| FTAI AVIATION INVESTORS                               | FTAI Aviation Investors LLC                                                      | CUSIP: 34960PAD3<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |    114000 | PA      | $114018.13    | 0.02%             | 2028-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| New Mountain CLO Ltd                                  | New Mountain CLO 3 Ltd                                                           | CUSIP: 647550AQ5<br>LEI: 549300CEYMYPINCEX579 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1003750.00   | 0.17%             | 2038-10-20      | Floating      | 5.61%                 | No            |                  2 | On Loan: No      |
| FOUR SEASONS HOTELS LIMITED                           | FOUR SEASONS HOTELS LIMITED 2025 TERM LOAN B                                     | CUSIP: 000000000<br>LEI: 5493009FUVX8LHYY2202 | Long             | LON              | CORP              | CA        |    153621 | PA      | $153780.38    | 0.03%             | 2032-09-22      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| PRA GROUP EUROPE HOLDING                              | PRA Group Europe Holding II Sarl                                                 | CUSIP: 000000000<br>LEI: 635400CWOMLGBIP4GA24 | Long             | DBT              | CORP              | LU        |    195000 | PA      | $225563.02    | 0.04%             | 2032-09-30      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Veradigm Inc                                          | Veradigm Inc                                                                     | CUSIP: 01988P108<br>LEI: Y68YJHVB1GU4TAU3C223 | Long             | EC               | CORP              | US        |    586444 | NS      | $2814931.20   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| CEDACRI SPA                                           | Cedacri SpA                                                                      | CUSIP: 000000000<br>LEI: 815600E85FCD78B3EE61 | Long             | DBT              | CORP              | IT        |    100000 | PA      | $118077.10    | 0.02%             | 2028-05-15      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| RIYAD T1 SUKUK LTD                                    | Riyad T1 Sukuk Ltd                                                               | CUSIP: 000000000<br>LEI: 254900U0H7PYCRKOV841 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $195992.00    | 0.03%             | 2029-10-03      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| STONEGATE PUB FIN                                     | Stonegate Pub Co Financing 2019 PLC                                              | CUSIP: 000000000<br>LEI: 254900L5266ML3505282 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $134857.76    | 0.02%             | 2029-07-31      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| NISSAN MOTOR CO                                       | Nissan Motor Co Ltd                                                              | CUSIP: 000000000<br>LEI: 353800DRBDH1LUTNAY26 | Long             | DBT              | CORP              | JP        |    136000 | PA      | $162724.90    | 0.03%             | 2029-07-17      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP/US FIN                              | Clarios Global LP / Clarios US Finance Co                                        | CUSIP: 18060TAE5<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |     52000 | PA      | $53152.32     | 0.01%             | 2032-09-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| RBS Buyer Inc                                         | RBS Buyer Inc Term Loan                                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2040000 | PA      | $2015520.00   | 0.34%             | 2031-07-31      | Floating      | 9.31%                 | No            |                  3 | On Loan: No      |
| Bytedance Ltd                                         | Bytedance Ltd                                                                    | CUSIP: 000000000<br>LEI: 54930057HU24VGK3CO92 | Long             | EP               | CORP              | US        |      6215 | NS      | $1571587.05   | 0.27%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Olympus Water US Holding Corporation                  | Olympus Water US Holding Corporation 2024 USD Term Loan                          | CUSIP: 68163YAJ4<br>LEI: 549300YU2GGVCBN3MY89 | Long             | LON              | CORP              | US        |    108897 | PA      | $107717.96    | 0.02%             | 2031-06-20      | Floating      | 7.00%                 | No            |                  2 | On Loan: No      |
| Sycamore Tree CLO Ltd                                 | Sycamore Tree CLO 2024-5 Ltd                                                     | CUSIP: 87122YAE5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1002780.00   | 0.17%             | 2036-04-20      | Floating      | 6.58%                 | No            |                  2 | On Loan: No      |
| AZZ Inc                                               | AZZ Inc Term Loan B                                                              | CUSIP: 00247NAG7<br>LEI: 549300HD1X2NFLWPYC83 | Long             | LON              | CORP              | US        |     14604 | PA      | $14646.55     | 0.00%             | 2029-05-13      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| VITAL ENERGY INC                                      | Vital Energy Inc                                                                 | CUSIP: 516806AK2<br>LEI: 549300X0PTWU2QSLSL14 | Long             | DBT              | CORP              | US        |     46000 | PA      | $44653.92     | 0.01%             | 2032-04-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| TITAN HOME IMPROVEMENT LLC                            | Titan Home Improvement LLC Term Loan                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3693023 | PA      | $3729953.47   | 0.63%             | 2030-05-31      | Floating      | 8.95%                 | No            |                  3 | On Loan: No      |
| EyeCare Partners LLC                                  | EyeCare Partners LLC 2024 Second Out Term Loan B                                 | CUSIP: 30233PAT7<br>LEI: 254900ZAACWK09RJ8W93 | Long             | LON              | CORP              | US        |     26559 | PA      | $16694.00     | 0.00%             | 2028-11-30      | Floating      | 5.23%                 | No            |                  2 | On Loan: No      |
| SVP SINGER                                            | SVP SINGER                                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1930 | NS      | $8443.75      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CIVICPLUS LLC                                         | CivicPlus LLC 2025 Refinancing Term Loan                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1851999 | PA      | $1838315.00   | 0.31%             | 2030-08-23      | Floating      | 9.70%                 | No            |                  3 | On Loan: No      |
| MERITAGE HOMES CORP                                   | Meritage Homes Corp                                                              | CUSIP: 59001ABF8<br>LEI: 52990044W9UMFJO2FB97 | Long             | DBT              | CORP              | US        |     22000 | PA      | $22516.17     | 0.00%             | 2028-05-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Trans Union LLC                                       | Trans Union LLC 2024 Term Loan B8                                                | CUSIP: 89334GBF0<br>LEI: X8NPN6PWJOM1QCTYFV34 | Long             | LON              | CORP              | US        |     56429 | PA      | $56373.82     | 0.01%             | 2031-06-24      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| ALBION FINANCING 3 SARL                               | Albion Financing 3 SARL 2025 USD Term Loan                                       | CUSIP: 01330EAD0<br>LEI: 213800VFJ5CIN2NUQ821 | Long             | LON              | CORP              | US        |     97276 | PA      | $97459.31     | 0.02%             | 2031-05-21      | Floating      | 7.21%                 | No            |                  2 | On Loan: No      |
| APPLAUSE APP QUALITY INC                              | Applause App Quality Inc 2024 7th Amendment Refinancing Term Loan                | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     80808 | PA      | $80323.23     | 0.01%             | 2029-10-24      | Floating      | 9.76%                 | No            |                  3 | On Loan: No      |
| REYNOLDS CONSUMER PRODUCTS LLC                        | Reynolds Consumer Products LLC 2025 Term Loan B                                  | CUSIP: 76171JAE1<br>LEI: 549300DWNZYMOSR1X343 | Long             | LON              | CORP              | US        |     12935 | PA      | $12954.40     | 0.00%             | 2032-03-04      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| IT Parent LLC                                         | IT Parent LLC Revolver                                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    358618 | PA      | $358618.04    | 0.06%             | 2026-10-01      | Floating      | 11.75%                | No            |                  3 | On Loan: No      |
| ALLSPRING BUYER LLC                                   | AllSpring Buyer LLC 2024 Term Loan B                                             | CUSIP: 98922AAE6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     28000 | PA      | $28035.00     | 0.00%             | 2030-11-01      | Floating      | 6.75%                 | No            |                  2 | On Loan: No      |
| Pico Quantitative Trading Holdings LLC                | Pico Quantitative Trading Holdings LLC 2021 Term Loan                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    404055 | PA      | $404054.81    | 0.07%             | 2027-02-08      | Floating      | 11.82%                | No            |                  3 | On Loan: No      |
| Primo Brands Corporation                              | Primo Brands Corporation 2025 Term Loan B                                        | CUSIP: 89678QAD8<br>LEI: 254900J0WS4AXV2LAX55 | Long             | LON              | CORP              | US        |     42633 | PA      | $42609.52     | 0.01%             | 2028-03-31      | Floating      | 6.25%                 | No            |                  2 | On Loan: No      |
| WYNN MACAU LTD                                        | Wynn Macau Ltd                                                                   | CUSIP: 98313RAH9<br>LEI: 254900NMDQ8ENTHU1I31 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $199602.00    | 0.03%             | 2028-08-26      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Orion US Finco Inc.                                   | Orion US Finco Inc 1st Lien Term Loan                                            | CUSIP: 68631KAB5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     46000 | PA      | $46230.00     | 0.01%             | 2032-05-20      | Floating      | 7.67%                 | No            |                  2 | On Loan: No      |
| VERTIV GROUP CORPORATION                              | Vertiv Group Corporation 2025 Term Loan                                          | CUSIP: 92537EAG3<br>LEI: 549300ZT8RQ5VK10E643 | Long             | LON              | CORP              | US        |    191392 | PA      | $191570.48    | 0.03%             | 2032-08-12      | Floating      | 6.03%                 | No            |                  2 | On Loan: No      |
| ROYAL CAPITAL BV                                      | Royal Capital BV                                                                 | CUSIP: 000000000<br>LEI: 72450057BWJ6BYW0TI63 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $199000.00    | 0.03%             | 2026-02-05      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RESEARCH NOW GROUP INC                                | Research Now Group Inc 2024 First Lien First Out Term Loan                       | CUSIP: 76100MAB6<br>LEI: 549300XTHJNIVC5Q8K50 | Long             | LON              | CORP              | US        |   2763544 | PA      | $2750886.99   | 0.47%             | 2028-07-15      | Floating      | 9.46%                 | No            |                  2 | On Loan: No      |
| LUMEN TECHNOLOGIES INC                                | Lumen Technologies Inc                                                           | CUSIP: 550241AC7<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |     19469 | PA      | $19079.62     | 0.00%             | 2030-04-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Lighthouse Parent Holdings Inc                        | Lighthouse Parent Holdings Inc Term Loan                                         | CUSIP: 53229NAD5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     59466 | PA      | $58574.34     | 0.01%             | 2031-12-22      | Floating      | 9.07%                 | No            |                  3 | On Loan: No      |
| Cobham Ultra SeniorCo Sarl                            | Cobham Ultra SeniorCo Sarl USD Term Loan B                                       | CUSIP: 000000000<br>LEI: 254900L6IKLPZKIC4F32 | Long             | LON              | CORP              | LU        |     56577 | PA      | $56544.24     | 0.01%             | 2029-08-03      | Floating      | 8.37%                 | No            |                  2 | On Loan: No      |
| SNAP INC                                              | Snap Inc                                                                         | CUSIP: 83304AAL0<br>LEI: 549300JNC0L6VP8A2Q35 | Long             | DBT              | CORP              | US        |     48000 | PA      | $49060.73     | 0.01%             | 2033-03-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| CURRENTA GROUP HOLDINGS                               | Currenta Group Holdings Sarl                                                     | CUSIP: 000000000<br>LEI: 222100SF79KCJKYUPE47 | Long             | DBT              | CORP              | LU        |    100000 | PA      | $120316.81    | 0.02%             | 2030-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CARVANA CO                                            | Carvana Co                                                                       | CUSIP: 146869AN2<br>LEI: 5493003WEAK2PJ5WS063 | Long             | DBT              | CORP              | US        |     40365 | PA      | $42230.55     | 0.01%             | 2030-06-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| UNIBAIL-RODAMCO-WESTFLD                               | Unibail-Rodamco-Westfield SE                                                     | CUSIP: 000000000<br>LEI: 969500SHQITWXSIS7N89 | Long             | DBT              |  | FR        |    200000 | PA      | $238510.07    | 0.04%             | 2031-06-11      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| VZ VENDOR FINANCING                                   | VZ Vendor Financing II BV                                                        | CUSIP: 000000000<br>LEI: 724500DRKUUR3GFOSK76 | Long             | DBT              | CORP              | NL        |    196000 | PA      | $216925.33    | 0.04%             | 2029-01-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| Lightspeed SolutionLLC                                | Lightspeed SolutionLLC Term Loan                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    417483 | PA      | $414478.80    | 0.07%             | 2028-03-01      | Floating      | 10.17%                | No            |                  3 | On Loan: No      |
| TALEN ENERGY SUPPLY LLC                               | Talen Energy Supply LLC 2024-1 Incremental Term Loan                             | CUSIP: 87422LAY6<br>LEI: K5K33XN0PQAU1XF7NN66 | Long             | LON              | CORP              | US        |     29775 | PA      | $29781.25     | 0.01%             | 2031-12-15      | Floating      | 6.73%                 | No            |                  2 | On Loan: No      |
| Suited Connector LLC                                  | Suited Connector LLC Revolver                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    420855 | PA      | $290390.23    | 0.05%             | 2027-12-01      | Floating      | 10.43%                | No            |                  3 | On Loan: No      |
| TRANSOCEAN INC                                        | Transocean International Ltd                                                     | CUSIP: 893830BX6<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | BM        |     42750 | PA      | $44980.31     | 0.01%             | 2030-02-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| PARK RIVER HOLDINGS INC                               | Park River Holdings Inc                                                          | CUSIP: 70082LAC1<br>LEI: 254900PGY077KWCROT75 | Long             | DBT              | CORP              | US        |     10000 | PA      | $10126.74     | 0.00%             | 2031-03-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Prime Security Services Borrower, LLC                 | Prime Security Services Borrower LLC 2024 1st Lien Term Loan B                   | CUSIP: 03765VAP5<br>LEI: 549300O6QPZVWXV2DC15 | Long             | LON              | CORP              | US        |     38514 | PA      | $38396.37     | 0.01%             | 2030-10-13      | Floating      | 6.13%                 | No            |                  2 | On Loan: No      |
| FLUTTER FINANCING BV                                  | Flutter Financing BV 2025 Term Loan B                                            | CUSIP: 000000000<br>LEI: 635400VFWPBIKJK6GN11 | Long             | LON              | CORP              | NL        |     63840 | PA      | $63716.15     | 0.01%             | 2032-06-04      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| Sixth Street CLO LTD.                                 | Sixth Street CLO XIX Ltd                                                         | CUSIP: 83012KAU1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1005051.50   | 0.17%             | 2038-07-17      | Floating      | 7.08%                 | No            |                  2 | On Loan: No      |
| ENERFLEX LTD                                          | Enerflex Ltd                                                                     | CUSIP: 29269RAA3<br>LEI: 54930014N7872VUS3F89 | Long             | DBT              | CORP              | CA        |     36000 | PA      | $36654.34     | 0.01%             | 2027-10-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| INEOS FINANCE PLC                                     | INEOS Finance PLC                                                                | CUSIP: 000000000<br>LEI: 2138002D68XDR4LZCG32 | Long             | DBT              | CORP              | GB        |    164000 | PA      | $192271.14    | 0.03%             | 2031-03-31      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| RAVEN ACQUISITION HOLDIN                              | Raven Acquisition Holdings LLC                                                   | CUSIP: 75420NAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     37000 | PA      | $38023.72     | 0.01%             | 2031-11-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| ANYWHERE REAL EST/CO-ISS                              | Anywhere Real Estate Group LLC / Anywhere Co-Issuer Corp                         | CUSIP: 75606DAS0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     38213 | PA      | $38671.65     | 0.01%             | 2030-04-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Lonza Group AG                                        | Lonza Group AG USD Term Loan B                                                   | CUSIP: 000000000<br>LEI: 549300Y0CIXN5D40L888 | Long             | LON              | CORP              | US        |     83700 | PA      | $75341.19     | 0.01%             | 2028-07-03      | Floating      | 8.03%                 | No            |                  2 | On Loan: No      |
| WEX INC                                               | WEX Inc                                                                          | CUSIP: 96208TAD6<br>LEI: T9M5IGROL1TL1G5OV478 | Long             | DBT              | CORP              | US        |     24000 | PA      | $24510.79     | 0.00%             | 2033-03-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| RAZOR INFINITE PRIORITY 4 PREF                        | RAZOR INFINITE PRIORITY 4 PREF                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    696280 | NS      | $6.96         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| PREMIER ENTERTAINMENT SU                              | Premier Entertainment Sub LLC / Premier Entertainment Finance Corp               | CUSIP: 74052HAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     23000 | PA      | $11857.96     | 0.00%             | 2031-09-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Serrano Parent LLC                                    | Serrano Parent LLC Term Loan                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     90000 | PA      | $87120.00     | 0.01%             | 2030-05-13      | Floating      | 10.71%                | No            |                  3 | On Loan: No      |
| GVC Holdings (Gibraltar) Limited                      | GVC HOLDINGS GIBRALTAR LIMITED 2025 TERM LOAN B 2032                             | CUSIP: 000000000<br>LEI: 213800ATWJIEYQ8NF838 | Long             | LON              | CORP              | GI        |     15999 | PA      | $15967.93     | 0.00%             | 2032-07-31      | Floating      | 6.57%                 | No            |                  2 | On Loan: No      |
| INH BUYER INC                                         | INH Buyer Inc 2025 8th Amendment PIK Term Loan                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    104324 | PA      | $104323.61    | 0.02%             | 2026-03-02      | Floating      | 12.45%                | No            |                  3 | On Loan: No      |
| ONESKY FLIGHT LLC                                     | OneSky Flight LLC                                                                | CUSIP: 68278CAA3<br>LEI: 549300PM6NEPXGG5B882 | Long             | DBT              | CORP              | US        |     14000 | PA      | $14721.74     | 0.00%             | 2029-12-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| IGLOO PARENT HOLDINGS LLC SPV                         | IGLOO PARENT HOLDINGS LLC SPV                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        21 | NS      | $1693506.91   | 0.29%             |  |  |  | No            |                  3 | On Loan: No      |
| CNTRL PARENT/CDK GLB INC                              | Central Parent Inc / CDK Global Inc                                              | CUSIP: 15477CAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     53000 | PA      | $45635.92     | 0.01%             | 2029-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES INC                                 | American Airlines Inc                                                            | CUSIP: 023771T40<br>LEI: IWUQB36BXD6OWD6X4T14 | Long             | DBT              | CORP              | US        |     14000 | PA      | $14604.14     | 0.00%             | 2029-05-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| MOBICO GROUP PLC                                      | Mobico Group PLC                                                                 | CUSIP: 000000000<br>LEI: 213800A8IQEMY8PA5X34 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $164221.77    | 0.03%             | 2025-11-26      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| ARDAGH METAL PACKAGING                                | Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC      | CUSIP: 03969YAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    200000 | PA      | $185103.33    | 0.03%             | 2029-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NWD FINANCE (BVI) LTD                                 | NWD Finance BVI Ltd                                                              | CUSIP: 000000000<br>LEI: 25490076V8K09HMNCT88 | Long             | DBT              | CORP              | VG        |    200000 | PA      | $86750.00     | 0.01%             | 2026-03-22      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| AMWINS GROUP INC                                      | AmWINS Group Inc                                                                 | CUSIP: 031921AB5<br>LEI: 549300SJE7MUB8NMRG61 | Long             | DBT              | CORP              | US        |     32000 | PA      | $31100.51     | 0.01%             | 2029-06-30      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC                                     | Herc Holdings Inc                                                                | CUSIP: 42704LAG9<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |     41000 | PA      | $42799.98     | 0.01%             | 2033-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| PINNACLE BUYER LLC                                    | PINNACLE BUYER LLC TERM LOAN                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     43313 | PA      | $43366.84     | 0.01%             | 2032-09-10      | Floating      | 6.63%                 | No            |                  2 | On Loan: No      |
| SC GAMES HOLDIN/US FINCO                              | Scientific Games Holdings LP/Scientific Games US FinCo Inc                       | CUSIP: 80874DAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     34000 | PA      | $31610.24     | 0.01%             | 2030-03-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                                 | Level 3 Financing Inc                                                            | CUSIP: 527298BS1<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |      3000 | PA      | $2596.36      | 0.00%             | 2029-01-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| Gray Television Inc                                   | Gray Television Inc 2024 Term Loan B                                             | CUSIP: 389376BC7<br>LEI: 529900TM5726KDN7UU35 | Long             | LON              | CORP              | US        |       300 | PA      | $299.87       | 0.00%             | 2029-06-04      | Floating      | 9.53%                 | No            |                  2 | On Loan: No      |
| NATIONWIDE BLDG SOCIETY                               | Nationwide Building Society                                                      | CUSIP: 000000000<br>LEI: 549300XFX12G42QIKN82 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $275752.81    | 0.05%             | 2030-12-20      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| OPAL BIDCO SAS                                        | Opal Bidco SAS USD Term Loan B                                                   | CUSIP: 000000000<br>LEI: 969500R96XT7XY2UJ564 | Long             | LON              | CORP              | US        |     90000 | PA      | $90180.00     | 0.02%             | 2032-04-28      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| TRANSMONTAIGNE PARTNERS                               | TransMontaigne Partners LLC                                                      | CUSIP: 89377AAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      4000 | PA      | $4168.08      | 0.00%             | 2030-06-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                                | Venture Global LNG Inc                                                           | CUSIP: 92332YAF8<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |    215000 | PA      | $213082.11    | 0.04%             | 2029-09-30      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| AROUNDTOWN FINANCE SARL                               | Aroundtown Finance Sarl                                                          | CUSIP: 000000000<br>LEI: 8945006LEXV2KWSWVP51 | Long             | DBT              | CORP              | LU        |    100000 | PA      | $138496.05    | 0.02%             | 2029-05-07      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| STL HOLDING CO LLC                                    | STL Holding Co LLC                                                               | CUSIP: 861036AB7<br>LEI: 984500BC2I63E7F48656 | Long             | DBT              | CORP              | US        |      9000 | PA      | $9431.24      | 0.00%             | 2029-02-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| LUMEN TECHNOLOGIES INC                                | Lumen Technologies Inc                                                           | CUSIP: 550241AK9<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |     15290 | PA      | $15468.25     | 0.00%             | 2032-10-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| WYNN MACAU LTD                                        | Wynn Macau Ltd                                                                   | CUSIP: 000000000<br>LEI: 254900NMDQ8ENTHU1I31 | Long             | DBT              | CORP              | KY        |    350000 | PA      | $354795.00    | 0.06%             | 2034-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| RAZOR INFINITE EQUITY SHARES                          | RAZOR INFINITE EQUITY SHARES                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     23794 | NS      | $0.24         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| NXGEN BUYER INC                                       | Nxgen Buyer Inc 2024 11th Amendment Incremental Term Loan                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3806017 | PA      | $3798404.60   | 0.65%             | 2027-11-01      | Floating      | 8.91%                 | No            |                  3 | On Loan: No      |
| HT TROPLAST AG                                        | HT Troplast GmbH                                                                 | CUSIP: 000000000<br>LEI: 529900Y2N2GAY3FXGP86 | Long             | DBT              | CORP              | DE        |    200000 | PA      | $245228.24    | 0.04%             | 2028-07-15      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| JONES DESLAURIERS INSURA                              | Jones Deslauriers Insurance Management Inc                                       | CUSIP: 48020RAB1<br>LEI: 549300JQIWNFU00E5424 | Long             | DBT              | CORP              | CA        |     43000 | PA      | $45176.23     | 0.01%             | 2030-03-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Team Services Group                                   | Team Services Group Second Lien Term Loan                                        | CUSIP: 87821EAE3<br>LEI: 2549000UQACQVCO13Y82 | Long             | LON              | CORP              | US        |   2264633 | PA      | $2253309.37   | 0.38%             | 2028-12-18      | Floating      | 13.57%                | No            |                  3 | On Loan: No      |
| Foreside Financial                                    | Foreside Financial Incremental Term Loan                                         | CUSIP: 34553YAF2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1939635 | PA      | $1939634.59   | 0.33%             | 2027-09-30      | Floating      | 9.60%                 | No            |                  3 | 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        |     14000 | PA      | $13032.54     | 0.00%             | 2031-01-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| CHIYU BANKING CORP LTD                                | Chiyu Banking Corp Ltd                                                           | CUSIP: 000000000<br>LEI: 254900HY5QFETBNN7892 | Long             | DBT              | CORP              | HK        |    250000 | PA      | $248732.50    | 0.04%             | 2032-04-07      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| PHRG INTERMEDIATE LLC                                 | PHRG Intermediate LLC 2025 Term Loan B                                           | CUSIP: 40445XAC0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   5000000 | PA      | $4981250.00   | 0.85%             | 2032-02-20      | Floating      | 8.00%                 | No            |                  2 | On Loan: No      |
| ARDAGH PKG FIN/HLDGS USA                              | Ardagh Packaging Finance PLC / Ardagh Holdings USA Inc                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    100000 | PA      | $115031.79    | 0.02%             | 2026-08-15      | Fixed         | 2.13%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                              | CHS/Community Health Systems Inc                                                 | CUSIP: 12543DBN9<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |     36000 | PA      | $38127.49     | 0.01%             | 2032-01-15      | Fixed         | 10.88%                | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                               | Frontier Communications Holdings LLC                                             | CUSIP: 35906ABG2<br>LEI: 549300ZCZ76HYCS0H445 | Long             | DBT              | CORP              | US        |      8000 | PA      | $8079.80      | 0.00%             | 2029-05-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| SELLERX SERIES Z PREFERRED                            | SELLERX SERIES Z PREFERRED                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   4707471 | NS      | $1318091.84   | 0.22%             |  |  |  | No            |                  3 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                                 | Venture Global Plaquemines LNG LLC                                               | CUSIP: 922966AA4<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |     29000 | PA      | $32045.29     | 0.01%             | 2033-05-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| OI EUROPEAN GROUP BV                                  | OI European Group BV                                                             | CUSIP: 000000000<br>LEI: 72450053F5WRDY8CDZ66 | Long             | DBT              | CORP              | NL        |    108000 | PA      | $130514.29    | 0.02%             | 2029-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SRI LANKA                                 | Sri Lanka Government International Bond                                          | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |    173373 | PA      | $154041.91    | 0.03%             | 2038-02-15      | Variable      | 3.60%                 | No            |                  2 | On Loan: No      |
| TK ELEVATOR US NEWCO INC                              | TK Elevator US Newco Inc                                                         | CUSIP: 92537RAA7<br>LEI: 549300C2AFWPAYWS5574 | Long             | DBT              | CORP              | US        |    295000 | PA      | $293956.97    | 0.05%             | 2027-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| GEN DIGITAL INC                                       | Gen Digital Inc 2025 Term Loan B                                                 | CUSIP: 66877AAG3<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | LON              | CORP              | US        |     26000 | PA      | $25876.50     | 0.00%             | 2032-04-16      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| NAKED JUICE LLC                                       | Naked Juice LLC 2025 FLSO Term Loan                                              | CUSIP: 62984CAM5<br>LEI: 549300Y5TU1XQ1KVLJ64 | Long             | LON              | CORP              | US        |     39522 | PA      | $29712.58     | 0.01%             | 2029-01-24      | Floating      | 7.35%                 | No            |                  2 | On Loan: No      |
| CAPSTONE BORROWER INC                                 | Capstone Borrower Inc                                                            | CUSIP: 140944AA7<br>LEI: 254900YSP2BAI3YKIX08 | Long             | DBT              | CORP              | US        |     69000 | PA      | $72159.58     | 0.01%             | 2030-06-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Gympass                                               | Gympass Term Loan                                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    282585 | PA      | $285410.38    | 0.05%             | 2027-07-08      | Floating      | 7.53%                 | No            |                  3 | On Loan: No      |
| Oaktree CLO Ltd                                       | Oaktree CLO 2024-27 Ltd                                                          | CUSIP: 67402UAE6<br>LEI: 2549005VHJ8BB9WPL105 | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1502804.70   | 0.26%             | 2037-10-22      | Floating      | 5.98%                 | No            |                  2 | On Loan: No      |
| Wealth Enhancement Group LLC                          | Wealth Enhancement Group LLC 2024 11th Amendment Delayed Draw Term Loan          | CUSIP: 000000000<br>LEI: 254900REFAEILHE3RX56 | Long             | LON              | CORP              | US        |   3513678 | PA      | $3496693.54   | 0.59%             | 2028-10-02      | Floating      | 8.80%                 | No            |                  3 | On Loan: No      |
| LIFEPOINT HEALTH INC                                  | LifePoint Health Inc                                                             | CUSIP: 53219LAX7<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | DBT              | CORP              | US        |     18000 | PA      | $18899.26     | 0.00%             | 2032-06-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| SUNOCO LP                                             | Sunoco LP                                                                        | CUSIP: 86765KAF6<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |     10000 | PA      | $9926.23      | 0.00%             | 2031-03-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Delta 2 (LUX) S.a.r.l.                                | Delta 2 (LUX) Sarl 2024 Term Loan B1                                             | CUSIP: 000000000<br>LEI: 549300BBG8Z3D6QSYP53 | Long             | LON              | CORP              | LU        |     80942 | PA      | $80917.09     | 0.01%             | 2031-09-30      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| NOVELIS CORP                                          | Novelis Corp                                                                     | CUSIP: 670001AL0<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |     25000 | PA      | $25924.35     | 0.00%             | 2030-01-30      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                              | Hilcorp Energy I LP / Hilcorp Finance Co                                         | CUSIP: 431318BC7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    101000 | PA      | $106078.08    | 0.02%             | 2033-11-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| ALTAGAS LTD                                           | AltaGas Ltd                                                                      | CUSIP: 021361AD2<br>LEI: 2549008X5V70MOS4HM10 | Long             | DBT              | CORP              | CA        |     16000 | PA      | $16550.61     | 0.00%             | 2054-10-15      | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| NEP/NCP Holdco Inc                                    | NEP/NCP Holdco Inc 2018 1st Lien Term Loan                                       | CUSIP: 62908HAD7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     10068 | PA      | $9900.23      | 0.00%             | 2026-08-19      | Floating      | 7.53%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                                        | Bombardier Inc                                                                   | CUSIP: 097751CD1<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |     26000 | PA      | $27132.52     | 0.00%             | 2033-06-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Palmer Square CLO Ltd                                 | Palmer Square CLO 2021-4 Ltd                                                     | CUSIP: 69702EAS4<br>LEI: 254900HTQ89UZTKY6247 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1002715.50   | 0.17%             | 2038-07-15      | Floating      | 6.12%                 | No            |                  2 | On Loan: No      |
| INTERCEPT BIDCO INC                                   | Intercept Bidco Inc Term Loan                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3611111 | PA      | $3567777.78   | 0.61%             | 2030-06-03      | Floating      | 10.17%                | No            |                  3 | On Loan: No      |
| ENGINEERING SPA                                       | Engineering - Ingegneria Informatica - SpA                                       | CUSIP: 000000000<br>LEI: 81560042F5E23EE61346 | Long             | DBT              | CORP              | IT        |    100000 | PA      | $126475.45    | 0.02%             | 2030-02-15      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| White Cap Buyer LLC                                   | White Cap Buyer LLC 2024 Term Loan B                                             | CUSIP: 96350TAH3<br>LEI: 254900L2N0T6GULCL366 | Long             | LON              | CORP              | US        |    195042 | PA      | $195000.63    | 0.03%             | 2029-10-19      | Floating      | 7.42%                 | No            |                  2 | On Loan: No      |
| USI Inc                                               | USI Inc 2024 Term Loan D                                                         | CUSIP: 90351NAR6<br>LEI: 2549006D7UF7072T7I27 | Long             | LON              | CORP              | US        |    172800 | PA      | $172570.46    | 0.03%             | 2029-11-21      | Floating      | 6.25%                 | No            |                  2 | On Loan: No      |
| NORTHRIVER MIDSTREAM FIN                              | Northriver Midstream Finance LP                                                  | CUSIP: 66679NAB6<br>LEI: 549300SOLNLY3BL6GF18 | Long             | DBT              | CORP              | CA        |     13000 | PA      | $13293.75     | 0.00%             | 2032-07-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| SPIRIT AEROSYSTEMS INC                                | Spirit AeroSystems Inc                                                           | CUSIP: 85205TAN0<br>LEI: ZD2NBKV6GCC3UMGBM518 | Long             | DBT              | CORP              | US        |     85000 | PA      | $89523.62     | 0.02%             | 2029-11-30      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| WR GRACE HOLDING LLC                                  | WR Grace Holdings LLC                                                            | CUSIP: 92943GAA9<br>LEI: 549300WNOVFRGYOAEB12 | Long             | DBT              | CORP              | US        |    150000 | PA      | $139424.67    | 0.02%             | 2029-08-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| MUTHOOT FINANCE LTD                                   | Muthoot Finance Ltd                                                              | CUSIP: 62828M2C4<br>LEI: 335800HAMJMBFL4RRF02 | Long             | DBT              | CORP              | IN        |    250000 | PA      | $257735.00    | 0.04%             | 2028-02-14      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| STREAMLAND MEDIA MIDCO LLC                            | Streamland Media Midco LLC 2025 2nd Amendment Last Out Term Loan                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     27000 | PA      | $23300.95     | 0.00%             | 2029-04-02      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| NANSHAN LIFE PTE LTD                                  | Nanshan Life Pte Ltd                                                             | CUSIP: 000000000<br>LEI: 2138006QCWSN6N7E1140 | Long             | DBT              | CORP              | SG        |    200000 | PA      | $202966.00    | 0.03%             | 2041-03-17      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| BCP MODULAR SERVICES                                  | BCP V Modular Services Finance II PLC                                            | CUSIP: 000000000<br>LEI: 213800227GGD6UI7PI97 | Long             | DBT              | CORP              | GB        |    191000 | PA      | $209645.00    | 0.04%             | 2031-07-10      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| SABRE GLBL INC                                        | Sabre GLBL Inc                                                                   | CUSIP: 78573NAM4<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | DBT              | CORP              | US        |     24000 | PA      | $23242.80     | 0.00%             | 2030-07-15      | Fixed         | 11.13%                | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC                | PURCHASED USD / SOLD CHF                                                         | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | US        |         1 | NC      | $672.42       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Station Casinos LLC                                   | Station Casinos LLC 2024 Term Loan B                                             | CUSIP: 85769EBB6<br>LEI: 5493004E7Q60TX54WL62 | Long             | LON              | CORP              | US        |    121155 | PA      | $121111.38    | 0.02%             | 2031-03-14      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| Ellucian Holdings, Inc.                               | Ellucian Holdings Inc 2024 1st Lien Term Loan B                                  | CUSIP: 28917XAB6<br>LEI: 549300RP8NIJ7FY7OS79 | Long             | LON              | CORP              | US        |    156941 | PA      | $156843.63    | 0.03%             | 2029-10-09      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| GLOBAL AIR LEASE CO LTD                               | Global Aircraft Leasing Co Ltd                                                   | CUSIP: 37960JAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |     28000 | PA      | $28871.36     | 0.00%             | 2027-09-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| HOMERENEW BUYER INC                                   | HomeRenew Buyer Inc 2025 SP Delayed Draw Term Loan                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    433256 | PA      | $433256.42    | 0.07%             | 2030-04-14      | Floating      | 13.65%                | No            |                  3 | On Loan: No      |
| Fortress Intermediate 3, Inc                          | Fortress Intermediate 3 Inc 2025 Term Loan B                                     | CUSIP: 34966LAD6<br>LEI: 254900NLAZ3JQJW5JP75 | Long             | LON              | CORP              | US        |     28782 | PA      | $28854.46     | 0.00%             | 2031-06-27      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| OLA Netherlands BV                                    | OLA Netherlands BV Term Loan                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | NL        |    108724 | PA      | $107908.86    | 0.02%             | 2026-12-15      | Floating      | 10.51%                | No            |                  2 | On Loan: No      |
| LIGADO NETWORKS LLC                                   | Ligado Networks LLC 2025 New Money DIP Term Loan                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2909915 | PA      | $2560725.51   | 0.44%             | 2049-12-31      | Fixed         | 17.50%                | No            |                  3 | On Loan: No      |
| ALTICE FRANCE SA                                      | Altice France SA                                                                 | CUSIP: 02156LAH4<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |   2748000 | PA      | $2376845.09   | 0.40%             | 2029-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CITRIN COOPERMAN ADVISORS LLC                         | Citrin Cooperman Advisors LLC 2025 Term Loan B                                   | CUSIP: 17737EAC7<br>LEI: 254900DPG9ZEAP5MK895 | Long             | LON              | CORP              | US        |     38932 | PA      | $38725.06     | 0.01%             | 2032-04-01      | Floating      | 7.00%                 | No            |                  2 | On Loan: No      |
| TEMPO ACQUISITION LLC                                 | Tempo Acquisition LLC 2025 Repriced Term Loan B                                  | CUSIP: 88023HAJ9<br>LEI: 549300VV0B2RPMHQGA61 | Long             | LON              | CORP              | US        |     48985 | PA      | $47828.17     | 0.01%             | 2028-08-31      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                                 | LEVEL 3 FINANCING INC 2025 REPRICED TERM LOAN B4                                 | CUSIP: 000000000<br>LEI: 254900AE5FEFIJOXWL19 | Long             | LON              | CORP              | US        |     25000 | PA      | $25000.00     | 0.00%             | 2032-03-29      | Floating      | 7.42%                 | No            |                  2 | On Loan: No      |
| DIVERSIFIED HEALTHCARE T                              | Diversified Healthcare Trust                                                     | CUSIP: 25525PAE7<br>LEI: N/A                  | Long             | DBT              |  | US        |     10000 | PA      | $10163.30     | 0.00%             | 2030-10-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| IRB INFRASTRUCTURE DEVE                               | IRB INFRASTRUCTURE DEVE                                                          | CUSIP: 000000000<br>LEI: 335800XGO3AITGW6AK27 | Long             | DBT              | CORP              | IN        |    400000 | PA      | $414500.00    | 0.07%             | 2032-03-11      | Fixed         | 7.11%                 | No            |                  2 | On Loan: No      |
| Cushman & Wakefield U.S. Borrower, LLC                | Cushman & Wakefield US Borrower LLC 2025 Term Loan B3                            | CUSIP: 23340DAW2<br>LEI: 549300870CMN3WI5IF97 | Long             | LON              | CORP              | US        |     22740 | PA      | $22782.75     | 0.00%             | 2030-01-31      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                                  | OneMain Finance Corp                                                             | CUSIP: 682691AG5<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |      9000 | PA      | $9332.85      | 0.00%             | 2031-11-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| MIDCONTINENT COMMUNICATI                              | Midcontinent Communications                                                      | CUSIP: 59565XAD2<br>LEI: 549300ZI9GDQBS28C408 | Long             | DBT              | CORP              | US        |     40000 | PA      | $41212.12     | 0.01%             | 2032-08-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Magenta Security Holdings LLC                         | Magenta Security Holdings LLC 2024 Super Priority Term Loan                      | CUSIP: 55909UAC3<br>LEI: 254900F51KU7HIRXTS68 | Long             | LON              | CORP              | US        |   9384795 | PA      | $9502105.32   | 1.62%             | 2028-07-27      | Floating      | 10.56%                | No            |                  2 | On Loan: No      |
| Charter Communications Operating LLC                  | Charter Communications Operating LLC 2023 Term Loan B4                           | CUSIP: 16117LCB3<br>LEI: 549300TPZNMN50BJ3745 | Long             | LON              | CORP              | US        |     54361 | PA      | $54281.25     | 0.01%             | 2030-12-07      | Floating      | 6.29%                 | No            |                  2 | On Loan: No      |
| AMERICAN AXLE & MFG INC                               | American Axle & Manufacturing Inc                                                | CUSIP: 02406PBC3<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | DBT              | CORP              | US        |     10000 | PA      | $9983.12      | 0.00%             | 2032-10-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| INTRUM INV AND FIN                                    | Intrum Investments And Financing AB                                              | CUSIP: 000000000<br>LEI: 984500D7B1EFD7460452 | Long             | DBT              | CORP              | SE        |    101337 | PA      | $120990.43    | 0.02%             | 2027-09-11      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| NN GROUP NV                                           | NN Group NV                                                                      | CUSIP: 000000000<br>LEI: 724500OHYNDT9OY6Q215 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $237913.85    | 0.04%             | 2034-09-11      | Fixed         | 5.75%                 | 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        |     26000 | PA      | $24656.84     | 0.00%             | 2030-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NOURYON FINANCE BV                                    | Nouryon Finance BV 2024 USD Term Loan B1                                         | CUSIP: 000000000<br>LEI: 549300GD4NJGLPVYB245 | Long             | LON              | CORP              | NL        |     57632 | PA      | $57668.49     | 0.01%             | 2028-04-03      | Floating      | 7.50%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                           | SWAP/CDSWAP/SCDS: (EOFP)                                                         | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              |  | DE        |     80000 | OU      | $10071.96     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| SERVICE PROPERTIES TRUST                              | Service Properties Trust                                                         | CUSIP: 81761LAE2<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              |  | US        |     24000 | PA      | $24134.86     | 0.00%             | 2032-06-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| AMENTUM HOLDINGS INC                                  | Amentum Holdings Inc                                                             | CUSIP: 02352BAA3<br>LEI: 2549009FJIBLW40CU216 | Long             | DBT              | CORP              | US        |     19000 | PA      | $19728.95     | 0.00%             | 2032-08-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Clover Holdings SPV III LLC                           | Clover Holdings SPV III LLC 2024 USD Term Loan                                   | CUSIP: 000000000<br>LEI: 549300RFUWCPWS8FQ104 | Long             | LON              | CORP              | US        |      2679 | PA      | $2739.13      | 0.00%             | 2027-12-09      | Fixed         | 15.00%                | No            |                  2 | On Loan: No      |
| BOELS TOPHOLDING BV                                   | Boels Topholding BV                                                              | CUSIP: 000000000<br>LEI: 724500V913SEHSEW2O75 | Long             | DBT              | CORP              | NL        |    273000 | PA      | $332418.90    | 0.06%             | 2030-05-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| QUIKRETE HOLDINGS INC                                 | Quikrete Holdings Inc 2025 Term Loan B                                           | CUSIP: 74839XAL3<br>LEI: 5493007KIN86DIZWZT22 | Long             | LON              | CORP              | US        |     34825 | PA      | $34801.32     | 0.01%             | 2032-02-10      | Floating      | 6.41%                 | No            |                  2 | On Loan: No      |
| CartCom Inc                                           | CartCom Inc Term Loan                                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   5000000 | PA      | $4980000.00   | 0.85%             | 2030-05-30      | Floating      | 11.91%                | No            |                  3 | On Loan: No      |
| CHEMOURS CO                                           | Chemours Co/The                                                                  | CUSIP: 163851AE8<br>LEI: 549300M1BOLNXL8DOV14 | Long             | DBT              | CORP              | US        |     16000 | PA      | $15986.78     | 0.00%             | 2027-05-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| FERTITTA ENTERTAINMENT                                | Fertitta Entertainment LLC / Fertitta Entertainment Finance Co Inc               | CUSIP: 31556TAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     42000 | PA      | $39973.00     | 0.01%             | 2029-01-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| WINDSTREAM SERVICES LLC                               | Windstream Services LLC                                                          | CUSIP: 97382BAB5<br>LEI: 549300KT9GVEBYCD2N29 | Long             | DBT              | CORP              | US        |     27000 | PA      | $26992.71     | 0.00%             | 2033-10-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| XPLR INFRAST OPERATING                                | XPLR Infrastructure Operating Partners LP                                        | CUSIP: 98380MAA3<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |     47000 | PA      | $49256.00     | 0.01%             | 2031-01-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| CLOVER HOLDINGS 2 LLC                                 | Clover Holdings 2 LLC Term Loan B                                                | CUSIP: 18914DAB4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    180110 | PA      | $180054.17    | 0.03%             | 2031-12-09      | Floating      | 7.94%                 | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE SA                                    | Credit Agricole SA                                                               | CUSIP: 000000000<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |    100000 | PA      | $119276.74    | 0.02%             | 2035-03-23      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| PICO QUANT PICO QUANTITATIVE                          | PICO QUANTITATIVE TRADING                                                        | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |       142 | NS      | $26533.67     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| TRANS UNION LLC                                       | Trans Union LLC 2024 Term Loan B9                                                | CUSIP: 89334GBG8<br>LEI: X8NPN6PWJOM1QCTYFV34 | Long             | LON              | CORP              | US        |    131922 | PA      | $131787.81    | 0.02%             | 2031-06-24      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| ESSENDI SA                                            | Essendi SA                                                                       | CUSIP: 000000000<br>LEI: 2221000MD2YP7WLTNC52 | Long             | DBT              | CORP              | LU        |    101000 | PA      | $122105.00    | 0.02%             | 2031-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Lumen Technologies Inc                                | Lumen Technologies Inc 2024 Extended Term Loan B1                                | CUSIP: 55024EAF2<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | LON              | CORP              | US        |     50698 | PA      | $50324.57     | 0.01%             | 2029-04-16      | Floating      | 6.63%                 | No            |                  2 | On Loan: No      |
| WYNN MACAU LTD                                        | Wynn Macau Ltd                                                                   | CUSIP: 000000000<br>LEI: 254900NMDQ8ENTHU1I31 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $199602.00    | 0.03%             | 2028-08-26      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS                              | Univision Communications Inc                                                     | CUSIP: 914906BA9<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |     42000 | PA      | $44758.01     | 0.01%             | 2032-08-01      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| Ziggo Financing Partnership                           | Ziggo Financing Partnership USD Term Loan I                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     49496 | PA      | $49341.69     | 0.01%             | 2028-04-30      | Floating      | 6.76%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC                | PURCHASED USD / SOLD GBP                                                         | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | US        |         1 | NC      | $58905.86     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Hunter Douglas Inc.                                   | Hunter Douglas Inc 2025 USD Term Loan B                                          | CUSIP: 000000000<br>LEI: 529900811T142NS3H544 | Long             | LON              | CORP              | US        |    104565 | PA      | $104564.54    | 0.02%             | 2032-01-20      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| DREAM FINDERS HOMES INC                               | Dream Finders Homes Inc                                                          | CUSIP: 26154DAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      8000 | PA      | $8299.64      | 0.00%             | 2028-08-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| PROGROUP AG                                           | Progroup AG                                                                      | CUSIP: 000000000<br>LEI: 529900YI5W5TQ8F2FP82 | Long             | DBT              | CORP              | DE        |    100000 | PA      | $118546.24    | 0.02%             | 2031-04-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| PREIT Associates LP                                   | PREIT Associates LP 2024 Term Loan                                               | CUSIP: 74044UAW6<br>LEI: 54930041KOX8ORVMNG55 | Long             | LON              | CORP              | US        |   3596520 | PA      | $3686433.46   | 0.63%             | 2029-04-01      | Floating      | 11.19%                | No            |                  2 | On Loan: No      |
| SNAP INC                                              | Snap Inc                                                                         | CUSIP: 83304AAM8<br>LEI: 549300JNC0L6VP8A2Q35 | Long             | DBT              | CORP              | US        |     40000 | PA      | $40485.26     | 0.01%             | 2034-03-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| WR Grace & Co-Conn                                    | WR Grace & Co-Conn 2025 Term Loan B                                              | CUSIP: 92943HAD1<br>LEI: 549300WNOVFRGYOAEB12 | Long             | LON              | CORP              | US        |     40000 | PA      | $40066.80     | 0.01%             | 2032-08-19      | Floating      | 7.00%                 | No            |                  2 | On Loan: No      |
| HowlCo LLC                                            | HowlCo LLC Term Loan                                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1162328 | PA      | $1145096.28   | 0.19%             | 2027-10-22      | Floating      | 7.47%                 | No            |                  3 | On Loan: No      |
| NEW ENTERPRISE STONE & L                              | New Enterprise Stone & Lime Co Inc                                               | CUSIP: 644274AH5<br>LEI: 549300O5DQ5Y61B8VF38 | Long             | DBT              | CORP              | US        |     36000 | PA      | $35667.77     | 0.01%             | 2028-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| AMNEAL PHARMACEUTICALS L                              | Amneal Pharmaceuticals LLC                                                       | CUSIP: 03168LAA3<br>LEI: 54930037VIXE7LRZ1M66 | Long             | DBT              | CORP              | US        |     14000 | PA      | $14478.97     | 0.00%             | 2032-08-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| GLOBAL PART/GLP FINANCE                               | Global Partners LP / GLP Finance Corp                                            | CUSIP: 37954FAL8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      8000 | PA      | $8199.86      | 0.00%             | 2033-07-01      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| UNITED AIRLINES INC                                   | United Airlines Inc 2024 1st Lien Term Loan B                                    | CUSIP: 90932RAP9<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | LON              | CORP              | US        |     52769 | PA      | $52857.11     | 0.01%             | 2031-02-22      | Floating      | 6.20%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                                  | OneMain Finance Corp                                                             | CUSIP: 682691AF7<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |      8000 | PA      | $8362.89      | 0.00%             | 2031-05-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| FEDRIGONI SPA                                         | Fedrigoni SpA                                                                    | CUSIP: 000000000<br>LEI: 8156004CE82074779D19 | Long             | DBT              | CORP              | IT        |    100000 | PA      | $116702.21    | 0.02%             | 2031-06-15      | Fixed         | 6.13%                 | 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        |    109000 | PA      | $112910.53    | 0.02%             | 2031-10-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| RHP HOTEL PPTY/RHP FINAN                              | RHP Hotel Properties LP / RHP Finance Corp                                       | CUSIP: 749571AL9<br>LEI: N/A                  | Long             | DBT              |  | US        |     21000 | PA      | $21627.69     | 0.00%             | 2033-06-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Oak Purchaser Inc                                     | Oak Purchaser Inc 2024 Delayed Draw Term Loan                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     63611 | PA      | $63610.58     | 0.01%             | 2028-05-31      | Floating      | 9.37%                 | No            |                  3 | On Loan: No      |
| Bally's Corporation                                   | Bally's Corporation 2021 Term Loan B                                             | CUSIP: 05875CAB0<br>LEI: 549300NS4D5IK406VT62 | Long             | LON              | CORP              | US        |     37864 | PA      | $36696.99     | 0.01%             | 2028-10-02      | Floating      | 7.84%                 | No            |                  2 | On Loan: No      |
| DOMETIC GROUP AB                                      | Dometic Group AB                                                                 | CUSIP: 000000000<br>LEI: 549300STIPMK5VSA7Y59 | Long             | DBT              | CORP              | SE        |    100000 | PA      | $117836.99    | 0.02%             | 2030-09-11      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VS BUYER LLC                                          | VS Buyer LLC 2025 Term Loan B                                                    | CUSIP: 91834WAG5<br>LEI: 254900G5QLDMHSCYJK25 | Long             | LON              | CORP              | US        |    180430 | PA      | $179923.38    | 0.03%             | 2031-04-12      | Floating      | 6.56%                 | No            |                  2 | On Loan: No      |
| ORSTED A/S                                            | Orsted AS                                                                        | CUSIP: 000000000<br>LEI: W9NG6WMZIYEU8VEDOG48 | Long             | DBT              | CORP              | DK        |    100000 | PA      | $120426.42    | 0.02%             | 2099-12-31      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| American Airlines, Inc.                               | American Airlines Inc 2025 Term Loan                                             | CUSIP: 02376CBS3<br>LEI: IWUQB36BXD6OWD6X4T14 | Long             | LON              | CORP              | KY        |     43621 | PA      | $43530.18     | 0.01%             | 2028-04-20      | Floating      | 6.58%                 | No            |                  2 | On Loan: No      |
| Cloud Software Group Inc                              | Cloud Software Group Inc 2025 Term Loan B (2031)                                 | CUSIP: 88632NBK5<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | LON              | CORP              | US        |    132066 | PA      | $132520.36    | 0.02%             | 2031-03-21      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| VMED O2 UK FINANCING I                                | Vmed O2 UK Financing I PLC                                                       | CUSIP: 000000000<br>LEI: 213800MRR46ECNGZ7L69 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $240705.92    | 0.04%             | 2032-04-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| M6 ETX HOLDINGS II MIDCO LLC                          | M6 ETX Holdings II Midco LLC 2025 Term Loan B                                    | CUSIP: 55285DAG6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     29925 | PA      | $29925.00     | 0.01%             | 2032-04-01      | Floating      | 9.25%                 | No            |                  2 | On Loan: No      |
| Murphy USA Inc                                        | Murphy USA Inc Term Loan B                                                       | CUSIP: 62675KAB5<br>LEI: N32S6DTR2ZZ5222WHV58 | Long             | LON              | CORP              | US        |     16000 | PA      | $16116.64     | 0.00%             | 2032-04-07      | Floating      | 6.03%                 | No            |                  2 | On Loan: No      |
| ENI SPA                                               | Eni SpA                                                                          | CUSIP: 000000000<br>LEI: BUCRF72VH5RBN7X3VL35 | Long             | DBT              | CORP              | IT        |    100000 | PA      | $119865.48    | 0.02%             | 2031-01-21      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GARFUNKELUX HOLDCO 3 SA                               | Garfunkelux Holdco 3 SA                                                          | CUSIP: 000000000<br>LEI: 2221007QVSNJV7EWBX69 | Long             | DBT              | CORP              | LU        |    111000 | PA      | $132483.65    | 0.02%             | 2028-09-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| MAGENTA SECURITY HOLDINGS LLC                         | Magenta Security Holdings LLC 2024 First Out Term Loan                           | CUSIP: 55909UAE9<br>LEI: 254900F51KU7HIRXTS68 | Long             | LON              | CORP              | US        |     18667 | PA      | $15249.61     | 0.00%             | 2028-07-27      | Floating      | 11.32%                | No            |                  2 | On Loan: No      |
| BUCKEYE PARTNERS LP                                   | Buckeye Partners LP 2025 Term Loan B2                                            | CUSIP: 11823LAQ8<br>LEI: 549300C1PQJLVEIUBK50 | Long             | LON              | CORP              | US        |     14925 | PA      | $14930.37     | 0.00%             | 2030-11-22      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| PRA Health Sciences Inc                               | PRA Health Sciences Inc 2024 US Term Loan B                                      | CUSIP: 000000000<br>LEI: 549300R1HR1VWWHIAK47 | Long             | LON              | CORP              | US        |      6329 | PA      | $6323.94      | 0.00%             | 2028-07-03      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| VZ SECURED FINANCING BV                               | VZ Secured Financing BV                                                          | CUSIP: 000000000<br>LEI: 549300MG611MYCOWY949 | Long             | DBT              | CORP              | NL        |    161000 | PA      | $189013.61    | 0.03%             | 2033-01-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Pico Quantitative Trading Holdings LLC                | Pico Quantitative Trading Holdings LLC Term Loan                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    438900 | PA      | $441094.99    | 0.08%             | 2027-02-08      | Floating      | 11.83%                | No            |                  3 | On Loan: No      |
| APEX GROUP TREASURY LLC                               | Apex Group Treasury LLC 2025 USD Term Loan B                                     | CUSIP: 000000000<br>LEI: 254900N6HRPDDNW7HP03 | Long             | LON              | CORP              | US        |     75840 | PA      | $74038.80     | 0.01%             | 2032-02-27      | Floating      | 7.75%                 | No            |                  2 | On Loan: No      |
| GATEGROUP FINANCE LUX SA                              | gategroup Finance Luxembourg SA                                                  | CUSIP: 000000000<br>LEI: 529900Q1OR7LI4GOGW68 | Long             | DBT              | CORP              | LU        |    265000 | PA      | $329304.92    | 0.06%             | 2027-02-28      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MEIJI YASUDA LIFE INSURA                              | Meiji Yasuda Life Insurance Co                                                   | CUSIP: 000000000<br>LEI: 549300SLU4LP6YMRLK07 | Long             | DBT              | CORP              | JP        |    600000 | PA      | $624278.40    | 0.11%             | 2055-06-11      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| Roper Industrial Products Investment Company LLC      | Roper Industrial Products Investment Company LLC 2024 USD 1st Lien Term Loan B   | CUSIP: 77669LAK9<br>LEI: 254900RXO1EICEHOLG29 | Long             | LON              | CORP              | US        |     35899 | PA      | $35929.65     | 0.01%             | 2029-11-22      | Floating      | 6.75%                 | No            |                  2 | On Loan: No      |
| AETHON UN/AETHIN UN FIN                               | Aethon United BR LP / Aethon United Finance Corp                                 | CUSIP: 00810GAD6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     21000 | PA      | $21900.82     | 0.00%             | 2029-10-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| QUIKRETE HOLDINGS INC                                 | Quikrete Holdings Inc                                                            | CUSIP: 74843PAB6<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |     27000 | PA      | $28071.73     | 0.00%             | 2033-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| DIRECTV FINANCING LLC                                 | Directv Financing LLC                                                            | CUSIP: 254945AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     36000 | PA      | $35557.97     | 0.01%             | 2030-02-01      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| ALLIED UNIVERSAL                                      | Allied Universal Holdco LLC / Allied Universal Finance Corp                      | CUSIP: 019576AF4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     51000 | PA      | $52419.33     | 0.01%             | 2030-06-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| FABBRICA ITA SINTETICI                                | FIS Fabbrica Italiana Sintetici SpA                                              | CUSIP: 000000000<br>LEI: 8156004D7056C63EC525 | Long             | DBT              | CORP              | IT        |    300000 | PA      | $354879.50    | 0.06%             | 2027-08-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| GOODYEAR TIRE & RUBBER                                | Goodyear Tire & Rubber Co/The                                                    | CUSIP: 382550BS9<br>LEI: 5493002BI0S2ZQUY3437 | Long             | DBT              | CORP              | US        |     13000 | PA      | $13190.57     | 0.00%             | 2030-07-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| ZAYO GROUP HOLDINGS INC                               | Zayo Group Holdings Inc                                                          | CUSIP: 98919VAC9<br>LEI: 529900Z6OTS7RT0V0I47 | Long             | DBT              | CORP              | US        |    111180 | PA      | $106455.28    | 0.02%             | 2030-03-09      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SRI LANKA                                 | Sri Lanka Government International Bond                                          | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |     94266 | PA      | $88421.51     | 0.02%             | 2030-01-15      | Variable      | 3.10%                 | No            |                  2 | On Loan: No      |
| Hertz Corporation, (The)                              | Hertz Corporation (The) 2021 Term Loan C                                         | CUSIP: 42804VBC4<br>LEI: 549300PD0C69OJ0NLB27 | Long             | LON              | CORP              | US        |     10676 | PA      | $9564.85      | 0.00%             | 2028-06-30      | Floating      | 8.07%                 | No            |                  2 | On Loan: No      |
| FREEDOM MORTGAGE HOLD                                 | Freedom Mortgage Holdings LLC                                                    | CUSIP: 35641AAA6<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |     26000 | PA      | $27356.57     | 0.00%             | 2029-02-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| Avis Budget Car Rental LLC                            | Avis Budget Car Rental LLC 2020 Term Loan B                                      | CUSIP: 05377JAR3<br>LEI: XN8R4HH1TVC1XOCL5P21 | Long             | LON              | CORP              | US        |         0 | PA      | $0.00         | 0.00%             | 2027-08-06      | Floating      | 6.19%                 | No            |                  2 | On Loan: No      |
| Greystone Affordable Housing Initiatives LLC          | Greystone Affordable Housing Initiatives LLC Delayed Draw Term Loan              | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2800000 | PA      | $2763600.00   | 0.47%             | 2026-03-02      | Floating      | 10.63%                | No            |                  3 | On Loan: No      |
| SPEEDSTER BIDCO GMBH                                  | Speedster Bidco GmbH 2024 USD Term Loan B                                        | CUSIP: 000000000<br>LEI: 254900LE837QB2YYV824 | Long             | LON              | CORP              | DE        |    114426 | PA      | $114497.81    | 0.02%             | 2031-12-10      | Floating      | 7.24%                 | No            |                  2 | On Loan: No      |
| Aramark Services Inc                                  | Aramark Services Inc 2024 Term Loan B8                                           | CUSIP: 03852JAV3<br>LEI: 42YMHYH0XMHJEXDUB065 | Long             | LON              | CORP              | US        |    116729 | PA      | $116850.74    | 0.02%             | 2030-06-22      | Floating      | 6.20%                 | No            |                  2 | On Loan: No      |
| LIFEPOINT HEALTH INC                                  | LifePoint Health Inc                                                             | CUSIP: 53219LAY5<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | DBT              | CORP              | US        |     23000 | PA      | $24511.29     | 0.00%             | 2032-02-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Elmwood CLO 21 Ltd                                    | Elmwood CLO 21 Ltd                                                               | CUSIP: 289907AN7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    700000 | PA      | $701006.04    | 0.12%             | 2036-10-20      | Floating      | 5.98%                 | No            |                  2 | On Loan: No      |
| Foundation Building Materials Holding Company LLC     | Foundation Building Materials Holding Company LLC 2024 Term Loan B2              | CUSIP: 35039KAD8<br>LEI: 549300ZVE6MONHB01I28 | Long             | LON              | CORP              | US        |    112406 | PA      | $112546.73    | 0.02%             | 2031-01-29      | Floating      | 8.31%                 | No            |                  2 | On Loan: No      |
| SERVICE PROPERTIES TRUST                              | Service Properties Trust                                                         | CUSIP: 81761LAC6<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              |  | US        |    153000 | PA      | $162898.18    | 0.03%             | 2031-11-15      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| ASCENT RESOURCES/ARU FIN                              | Ascent Resources Utica Holdings LLC / ARU Finance Corp                           | CUSIP: 04364VBA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     13000 | PA      | $13216.60     | 0.00%             | 2033-07-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                                        | Bombardier Inc                                                                   | CUSIP: 097751CC3<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |     19000 | PA      | $19858.48     | 0.00%             | 2032-06-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| SKILLZ INC                                            | Skillz Inc                                                                       | CUSIP: 83067LAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2518000 | PA      | $2492820.00   | 0.42%             | 2026-12-15      | Fixed         | 10.25%                | No            |                  2 | On Loan: No      |
| STITCH AQUISITION CORPORATION                         | Stitch Aquisition Corporation 2024 2nd Out Term Loan                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     26200 | PA      | $21352.95     | 0.00%             | 2029-12-31      | Floating      | 11.76%                | No            |                  2 | On Loan: No      |
| FORTUNE STAR BVI LTD                                  | Fortune Star BVI Ltd                                                             | CUSIP: 000000000<br>LEI: 2549008CU8NYQQRSNU62 | Long             | DBT              | CORP              | VG        |    200000 | PA      | $200200.00    | 0.03%             | 2029-09-09      | Fixed         | 6.80%                 | No            |                  2 | On Loan: No      |
| OUTFRONT MEDIA CAPITAL LLC                            | OUTFRONT MEDIA CAPITAL LLC 2025 TERM LOAN B                                      | CUSIP: 000000000<br>LEI: 5493005WC7J0FDMW0610 | Long             | LON              | CORP              | US        |     38000 | PA      | $37976.44     | 0.01%             | 2032-09-24      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| ANYWHERE RE GRP/REALOGY                               | Anywhere Real Estate Group LLC / Realogy Co-Issuer Corp                          | CUSIP: 75606DAV3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      9000 | PA      | $9822.00      | 0.00%             | 2030-04-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| Elmwood CLO 26 Ltd                                    | Elmwood CLO 26 Ltd                                                               | CUSIP: 29004CAG3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1007300.10   | 0.17%             | 2037-04-18      | Floating      | 6.73%                 | No            |                  2 | On Loan: No      |
| SUITED CONNECTOR WARRANTS                             | SUITED CONNECTOR WARRANTS                                                        | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               |  | US        |     20348 | NS      | $0.20         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| FRONTIER COMMUNICATIONS                               | Frontier Communications Holdings LLC                                             | CUSIP: 35908MAB6<br>LEI: 549300ZCZ76HYCS0H445 | Long             | DBT              | CORP              | US        |     15000 | PA      | $15176.45     | 0.00%             | 2030-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD                                   | NCL Corp Ltd                                                                     | CUSIP: 62886HBZ3<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |     52000 | PA      | $52269.14     | 0.01%             | 2033-09-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| MEDLINE BORROWER LP                                   | Medline Borrower LP 2025 Incremental Term Loan B                                 | CUSIP: 58503UAJ2<br>LEI: 254900QT3R363TVK6F09 | Long             | LON              | CORP              | US        |     14962 | PA      | $14953.22     | 0.00%             | 2030-10-23      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| RIALTO MANAGEMENT GROUP LLC                           | Rialto Management Group LLC 2024 Term Loan                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     46207 | PA      | $46668.95     | 0.01%             | 2030-12-05      | Floating      | 9.16%                 | No            |                  3 | On Loan: No      |
| REWORLD HOLDING CORP                                  | REWORLD HOLDING CORP 2025 1st LIEN TERM LOAN B                                   | CUSIP: 22282GAR8<br>LEI: 40XIFLS8XDQGGHGPGC04 | Long             | LON              | CORP              | US        |     19000 | PA      | $18940.72     | 0.00%             | 2031-01-15      | Floating      | 6.41%                 | No            |                  2 | On Loan: No      |
| ENCORE ISSUANCES SA                                   | Encore Issuances SA                                                              | CUSIP: 000000000<br>LEI: 529900AZGF6OODGSBY09 | Long             | DBT              | CORP              | LU        |     11782 | PA      | $13551.87     | 0.00%             | 2025-11-06      | Floating      | 12.05%                | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP/US FIN                              | Clarios Global LP / Clarios US Finance Co                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    140000 | PA      | $167464.17    | 0.03%             | 2031-06-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| APCOA HOLDINGS GMBH                                   | APCOA Group GmbH/Germany                                                         | CUSIP: 000000000<br>LEI: 529900H8FIYAOV5FUW68 | Long             | DBT              | CORP              | DE        |    255000 | PA      | $303146.68    | 0.05%             | 2031-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| UWM HOLDINGS LLC                                      | UWM Holdings LLC                                                                 | CUSIP: 903522AB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     14000 | PA      | $13933.32     | 0.00%             | 2031-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| SS&C Technologies Inc                                 | SS&C Technologies Inc 2024 Term Loan B8                                          | CUSIP: 78466DBJ2<br>LEI: 549300KY09TR3J12JU49 | Long             | LON              | CORP              | US        |    155152 | PA      | $155496.17    | 0.03%             | 2031-05-09      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| NOVELIS CORP                                          | Novelis Corp                                                                     | CUSIP: 670001AH9<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |     96000 | PA      | $87522.06     | 0.01%             | 2031-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Intrado Corporation                                   | Intrado Corporation 2023 Term Loan B                                             | CUSIP: 40147EAB5<br>LEI: 254900OSYC6XQ21DY128 | Long             | LON              | CORP              | US        |     14886 | PA      | $14883.30     | 0.00%             | 2030-01-31      | Floating      | 7.50%                 | No            |                  2 | On Loan: No      |
| HUB INTERNATIONAL LTD                                 | HUB International Ltd                                                            | CUSIP: 44332PAH4<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |    139000 | PA      | $144963.81    | 0.02%             | 2030-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Jobandtalent USA Inc                                  | Jobandtalent USA Inc Initial Term Loan                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1493480 | PA      | $1520362.65   | 0.26%             | 2025-08-17      | Floating      | 11.16%                | No            |                  3 | On Loan: No      |
| SHIFT4 PAYMENTS LLC/FIN                               | Shift4 Payments LLC / Shift4 Payments Finance Sub Inc                            | CUSIP: 82453AAB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     69000 | PA      | $71338.48     | 0.01%             | 2032-08-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Bright Horizons Family Solutions LLC                  | Bright Horizons Family Solutions LLC 2025 Term Loan B                            | CUSIP: 10919RAR0<br>LEI: 254900BHOU40CFNXWQ75 | Long             | LON              | CORP              | US        |     61697 | PA      | $61889.78     | 0.01%             | 2032-08-23      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| BLUE OWL TECHNOLOGY FIN                               | Blue Owl Technology Finance Corp II                                              | CUSIP: 69121JAB3<br>LEI: 254900G5EZJSOD3UKL16 | Long             | DBT              | CORP              | US        |      3000 | PA      | $3095.15      | 0.00%             | 2029-04-04      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Crash Champions LLC                                   | Crash Champions LLC 2024 Term Loan B                                             | CUSIP: 15870MAC0<br>LEI: 391200ZDD75EGEUJ7625 | Long             | LON              | CORP              | US        |      8002 | PA      | $7481.51      | 0.00%             | 2029-02-23      | Floating      | 8.95%                 | No            |                  2 | On Loan: No      |
| CENTURY COMMUNITIES                                   | Century Communities Inc                                                          | CUSIP: 156504AN2<br>LEI: 5299002QMB2O7ZL1CA26 | Long             | DBT              | CORP              | US        |     13000 | PA      | $13113.87     | 0.00%             | 2033-09-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| NATIONAL BANK GREECE SA                               | National Bank of Greece SA                                                       | CUSIP: 000000000<br>LEI: 5UMCZOEYKCVFAW8ZLO05 | Long             | DBT              | CORP              | GR        |    150000 | PA      | $189452.35    | 0.03%             | 2035-06-28      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| FORTRESS INTERMEDIATE                                 | Fortress Intermediate 3 Inc                                                      | CUSIP: 34966MAA0<br>LEI: 254900NLAZ3JQJW5JP75 | Long             | DBT              | CORP              | US        |     68000 | PA      | $71198.79     | 0.01%             | 2031-06-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Hilton Domestic Operating Company Inc                 | Hilton Domestic Operating Company Inc 2023 Term Loan B4                          | CUSIP: 43289DAK9<br>LEI: 5493003EG7H0N1E4XV50 | Long             | LON              | CORP              | US        |     97279 | PA      | $97341.26     | 0.02%             | 2030-11-08      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| ALTERRA MOUNTAIN COMPANY                              | Alterra Mountain Company 2025 Term Loan B8                                       | CUSIP: 46124CAS6<br>LEI: 549300C5O4FSVNUEI843 | Long             | LON              | CORP              | US        |     58536 | PA      | $58573.01     | 0.01%             | 2030-05-31      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| WORLD REMIT WARRANTS                                  | WORLD REMIT WARRANTS                                                             | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               |  | US        |      1596 | NS      | $1332.29      | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| COMSTOCK RESOURCES INC                                | Comstock Resources Inc                                                           | CUSIP: 205768AS3<br>LEI: I03QQGEA4SS774AURI46 | Long             | DBT              | CORP              | US        |    104000 | PA      | $103830.13    | 0.02%             | 2029-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Lumen Technologies Inc                                | Lumen Technologies Inc 2024 Term Loan A                                          | CUSIP: 55024EAD7<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | LON              | CORP              | US        |      9778 | PA      | $9930.64      | 0.00%             | 2028-06-01      | Floating      | 10.16%                | No            |                  2 | On Loan: No      |
| UWM HOLDINGS LLC                                      | UWM Holdings LLC                                                                 | CUSIP: 903522AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     27000 | PA      | $27466.65     | 0.00%             | 2030-02-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| DERBY BUYER LLC                                       | Derby Buyer LLC 2024 Repriced Term Loan B                                        | CUSIP: 24968CAE3<br>LEI: 2549003XRO7JUBUWQX87 | Long             | LON              | CORP              | US        |     75734 | PA      | $75813.12     | 0.01%             | 2030-11-01      | Floating      | 7.18%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                         | TransDigm Inc                                                                    | CUSIP: 893647BY2<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    103000 | PA      | $104158.02    | 0.02%             | 2033-05-31      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP                                             | SUNOCO LP                                                                        | CUSIP: 86765KAD1<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |     20000 | PA      | $20356.84     | 0.00%             | 2033-07-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                           | SWAP/CDSWAP/CDS: (ITRAXX.XO.42 20-35%)                                           | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              |  | GB        |     95000 | OU      | $15588.74     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LEARFIELD COMMUNICATIONS LLC                          | LEARFIELD COMMUNICATIONS LLC                                                     | CUSIP: 000000000<br>LEI: 549300177GK4LMS8T214 | Long             | EC               | CORP              | US        |       264 | NS      | $27720.00     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CONSTRUCTION PARTNERS INC                             | Construction Partners Inc Term Loan B                                            | CUSIP: 21043XAH5<br>LEI: 549300MHLFL4E8JLZU44 | Long             | LON              | CORP              | US        |     14888 | PA      | $14920.10     | 0.00%             | 2031-11-03      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| SHRIRAM FINANCE LTD                                   | Shriram Finance Ltd                                                              | CUSIP: 000000000<br>LEI: 335800TM2YO24B76XL26 | Long             | DBT              | CORP              | IN        |    200000 | PA      | $204250.00    | 0.03%             | 2027-04-22      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                              | CHS/Community Health Systems Inc                                                 | CUSIP: 12543DBM1<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |    176000 | PA      | $159217.38    | 0.03%             | 2030-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| OVH GROUPE SAS                                        | OVH Groupe SA                                                                    | CUSIP: 000000000<br>LEI: 9695001J8OSOVX4TP939 | Long             | DBT              | CORP              | FR        |    116000 | PA      | $138681.35    | 0.02%             | 2031-02-05      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| 1475 Holdings, LLC                                    | 1475 Holdings LLC Term Loan                                                      | CUSIP: 000000000<br>LEI: 213800FPT7J2XF6H4Q09 | Long             | LON              | CORP              | US        |     78571 | PA      | $78430.88     | 0.01%             | 2030-01-18      | Floating      | 9.41%                 | No            |                  3 | On Loan: No      |
| LEVEL 3 FINANCING INC                                 | Level 3 Financing Inc                                                            | CUSIP: 527298CN1<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    184000 | PA      | $187184.87    | 0.03%             | 2034-03-31      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                                        | Bombardier Inc                                                                   | CUSIP: 097751BX8<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |    182000 | PA      | $182460.10    | 0.03%             | 2028-02-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ORBCOMM Inc                                           | Orbcomm Inc Term Loan B                                                          | CUSIP: 68558RAB9<br>LEI: 529900PSC8WVCY267I23 | Long             | LON              | CORP              | US        |     29220 | PA      | $26279.82     | 0.00%             | 2028-09-01      | Floating      | 8.71%                 | No            |                  2 | On Loan: No      |
| Delivery Hero SE                                      | Delivery Hero SE 2024 USD Term Loan B                                            | CUSIP: 000000000<br>LEI: 529900KR9IO53KSCSQ67 | Long             | LON              | CORP              | US        |   8049546 | PA      | $8130041.71   | 1.38%             | 2029-12-12      | Floating      | 9.23%                 | No            |                  2 | On Loan: No      |
| HalseyPoint CLO Ltd.                                  | HalseyPoint CLO 4 Ltd                                                            | CUSIP: 40637LAE0<br>LEI: 549300CMJUK1VCINNF57 | Long             | ABS-CBDO         | CORP              | KY        |    750000 | PA      | $751139.63    | 0.13%             | 2034-04-20      | Floating      | 6.74%                 | No            |                  2 | On Loan: No      |
| PINEWOOD FINCO PLC                                    | Pinewood Finco PLC                                                               | CUSIP: 000000000<br>LEI: 984500EF3F7CA63ND769 | Long             | DBT              | CORP              | GB        |    246000 | PA      | $332752.78    | 0.06%             | 2030-03-27      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| AHP Health Partners, Inc.                             | AHP HEALTH PARTNERS INC 2025 TERM LOAN B                                         | CUSIP: 00130MAL8<br>LEI: 549300QMM8MQ6SM5KX05 | Long             | LON              | CORP              | US        |      8743 | PA      | $8756.85      | 0.00%             | 2032-09-20      | Floating      | 6.39%                 | No            |                  2 | On Loan: No      |
| FERTITTA ENTERTAINMENT                                | Fertitta Entertainment LLC / Fertitta Entertainment Finance Co Inc               | CUSIP: 31556TAC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      6000 | PA      | $5630.60      | 0.00%             | 2030-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ILIAD SA                                              | iliad SA                                                                         | CUSIP: 000000000<br>LEI: 969500FZ9BTRZS3JNB97 | Long             | DBT              | CORP              | FR        |    100000 | PA      | $118042.41    | 0.02%             | 2032-01-09      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Sonny's Enterprises LLC                               | Sonny's Enterprises LLC 2023 Restatement Date Term Loan                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3767064 | PA      | $3601313.33   | 0.61%             | 2028-08-05      | Floating      | 9.89%                 | No            |                  3 | On Loan: No      |
| JONES DESLAURIERS INSURA                              | Jones Deslauriers Insurance Management Inc                                       | CUSIP: 48020RAE5<br>LEI: 549300JQIWNFU00E5424 | Long             | DBT              | CORP              | CA        |     27000 | PA      | $26858.47     | 0.00%             | 2033-10-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| TRANSOCEAN INC                                        | Transocean International Ltd                                                     | CUSIP: 893830BZ1<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | BM        |     13000 | PA      | $12740.40     | 0.00%             | 2031-05-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| CARVANA CO                                            | Carvana Co                                                                       | CUSIP: 146869AM4<br>LEI: 5493003WEAK2PJ5WS063 | Long             | DBT              | CORP              | US        |     85116 | PA      | $96370.72     | 0.02%             | 2031-06-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| BRITISH TELECOMMUNICATIO                              | British Telecommunications PLC                                                   | CUSIP: 000000000<br>LEI: 549300OWFMSO9NYV4H90 | Long             | DBT              | CORP              | GB        |    116000 | PA      | $142200.23    | 0.02%             | 2054-10-03      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Star Parent Inc                                       | Star Parent Inc Term Loan B                                                      | CUSIP: 87169DAB1<br>LEI: 254900GRGCJYRMDRWT73 | Long             | LON              | CORP              | US        |     42181 | PA      | $42163.04     | 0.01%             | 2030-09-27      | Floating      | 8.00%                 | No            |                  2 | On Loan: No      |
| OPAL BIDCO SAS                                        | OPAL BIDCO SAS                                                                   | CUSIP: 000000000<br>LEI: 969500R96XT7XY2UJ564 | Long             | DBT              | CORP              | FR        |    100000 | PA      | $121512.61    | 0.02%             | 2032-03-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| VOYAGER PARENT LLC                                    | Voyager Parent LLC Term Loan B                                                   | CUSIP: 92921HAC9<br>LEI: 2549002DYVI4ACSV4V71 | Long             | LON              | CORP              | US        |     60000 | PA      | $60082.20     | 0.01%             | 2032-07-01      | Floating      | 8.75%                 | No            |                  2 | On Loan: No      |
| BANGKOK BANK PCL/HK                                   | Bangkok Bank PCL/Hong Kong                                                       | CUSIP: 000000000<br>LEI: 549300CCL2BKJGMYXV60 | Long             | DBT              | CORP              | TH        |    200000 | PA      | $189573.00    | 0.03%             | 2034-09-25      | Fixed         | 3.73%                 | No            |                  2 | On Loan: No      |
| PLURALSIGHT INC                                       | Pluralsight Inc 2024 First Priority Term Loan                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    423346 | PA      | $423345.79    | 0.07%             | 2029-08-22      | Floating      | 7.20%                 | No            |                  3 | On Loan: No      |
| CIVITAS RESOURCES INC                                 | Civitas Resources Inc                                                            | CUSIP: 17888HAA1<br>LEI: IIVIHPH28S64K95M2381 | Long             | DBT              | CORP              | US        |     46000 | PA      | $47681.25     | 0.01%             | 2028-07-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Jones DesLauriers Insurance Management Inc.           | Jones DesLauriers Insurance Management Inc 2025 Term Loan B                      | CUSIP: 000000000<br>LEI: 549300JQIWNFU00E5424 | Long             | LON              | CORP              | CA        |     51353 | PA      | $51079.91     | 0.01%             | 2030-03-15      | Floating      | 7.06%                 | No            |                  2 | On Loan: No      |
| Invesco Senior Loan ETF                               | Invesco Senior Loan ETF                                                          | CUSIP: 46138G508<br>LEI: 549300SIHU6DQELRNG59 | Long             | EC               | RF                | US        |     58600 | NS      | $1226498.00   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| COLOSSUS ACQUIRECO LLC                                | Colossus Acquireco LLC Term Loan B                                               | CUSIP: 19682LAB4<br>LEI: 2549009FT92RXWA46910 | Long             | LON              | CORP              | US        |     82000 | PA      | $81474.38     | 0.01%             | 2032-07-30      | Floating      | 5.87%                 | No            |                  2 | On Loan: No      |
| California Infrastructure & Economic Development Bank | CALIFORNIA ST INFRASTRUCTURE & ECON DEV BANK REVENUE                             | CUSIP: 13034A6B1<br>LEI: 549300C1OG9RDIM8ET06 | Long             | DBT              | MUN               | US        |   4835000 | PA      | $4408913.40   | 0.75%             | 2065-01-01      | Floating      | 9.50%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I LP                                   | Hilcorp Energy I LP Term Loan B                                                  | CUSIP: 431319AH5<br>LEI: 549300ITPIHLG0LHEC09 | Long             | LON              | CORP              | US        |     39800 | PA      | $39800.00     | 0.01%             | 2030-02-11      | Floating      | 6.15%                 | No            |                  2 | On Loan: No      |
| IPD 3 BV                                              | IPD 3 BV                                                                         | CUSIP: 000000000<br>LEI: 724500RBP2J59JMQB629 | Long             | DBT              | CORP              | NL        |    204000 | PA      | $243224.60    | 0.04%             | 2031-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Ryan LLC                                              | Ryan LLC Term Loan                                                               | CUSIP: 78350LAZ8<br>LEI: 549300TG86D8HZC6TE67 | Long             | LON              | CORP              | US        |      4925 | PA      | $4931.16      | 0.00%             | 2030-11-14      | Floating      | 7.66%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                                  | OneMain Finance Corp                                                             | CUSIP: 682691AJ9<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |     27000 | PA      | $27500.07     | 0.00%             | 2032-03-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Modena Buyer LLC                                      | Modena Buyer LLC Term Loan                                                       | CUSIP: 60753DAC8<br>LEI: 254900B0G2IU0VBDOY26 | Long             | LON              | CORP              | US        |     29750 | PA      | $29346.41     | 0.00%             | 2031-07-01      | Floating      | 8.81%                 | No            |                  2 | On Loan: No      |
| GEN DIGITAL INC                                       | Gen Digital Inc 2024 Term Loan B                                                 | CUSIP: 66877AAF5<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | LON              | CORP              | US        |    157311 | PA      | $156819.74    | 0.03%             | 2029-09-12      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| SPARKSTONE ELECTRICAL GROUP                           | Sparkstone Electrical Group Term Loan                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     55754 | PA      | $51405.46     | 0.01%             | 2031-10-15      | Floating      | 9.44%                 | No            |                  3 | On Loan: No      |
| Arrow Purchaser Inc                                   | Arrow Purchaser Inc Term Loan                                                    | CUSIP: 00160KAB7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    833331 | PA      | $833331.47    | 0.14%             | 2026-04-15      | Floating      | 11.01%                | No            |                  3 | On Loan: No      |
| ONEMAIN FINANCE CORP                                  | OneMain Finance Corp                                                             | CUSIP: 85172FAR0<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    107000 | PA      | $105786.91    | 0.02%             | 2029-11-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| BRACKEN MIDCO ONE                                     | Bracken MidCo1 PLC                                                               | CUSIP: 000000000<br>LEI: 213800AFGHKES7J58805 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $133963.02    | 0.02%             | 2027-11-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| HOWDEN UK REFINANCE / US                              | Howden UK Refinance PLC / Howden UK Refinance 2 PLC / Howden US Refinance LLC    | CUSIP: 44287GAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |    107000 | PA      | $110164.10    | 0.02%             | 2031-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Keep Truckin Inc                                      | Keep Truckin Inc Term Loan                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2000000 | PA      | $2016000.00   | 0.34%             | 2027-04-08      | Floating      | 11.53%                | No            |                  3 | On Loan: No      |
| NCL CORPORATION LTD                                   | NCL Corp Ltd                                                                     | CUSIP: 62886HBR1<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |     22000 | PA      | $22625.49     | 0.00%             | 2032-02-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                                     | Iron Mountain Inc                                                                | CUSIP: 46284VAQ4<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              |  | US        |     34000 | PA      | $34680.51     | 0.01%             | 2033-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| ALLIANT HOLD / CO-ISSUER                              | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                   | CUSIP: 01883LAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    139000 | PA      | $136692.19    | 0.02%             | 2027-10-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| LCM INVESTMENTS HOLDINGS                              | LCM Investments Holdings II LLC                                                  | CUSIP: 50190EAA2<br>LEI: 549300P5V78NNQTG4428 | Long             | DBT              | CORP              | US        |     51000 | PA      | $49967.39     | 0.01%             | 2029-05-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Clydesdale Acquisition Holdings Inc                   | Clydesdale Acquisition Holdings Inc 2025 Term Loan B                             | CUSIP: 18972FAE2<br>LEI: 254900QKSDYFR3K5YD98 | Long             | LON              | CORP              | US        |     84635 | PA      | $84481.79     | 0.01%             | 2032-04-01      | Floating      | 7.41%                 | No            |                  2 | On Loan: No      |
| HEIMSTADEN BOSTAD AB                                  | Heimstaden Bostad AB                                                             | CUSIP: 000000000<br>LEI: 549300TJR3PR8EXILG79 | Long             | DBT              | CORP              | SE        |    116000 | PA      | $131066.82    | 0.02%             | 2027-02-01      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| Birch Grove CLO Ltd.                                  | Birch Grove Clo 9 Ltd                                                            | CUSIP: 09077WAA6<br>LEI: 254900VS6E4BD1HWHW18 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1003594.00   | 0.17%             | 2037-10-22      | Floating      | 5.73%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                          | Barclays PLC                                                                     | CUSIP: 06738EBX2<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   4150000 | PA      | $4392968.72   | 0.75%             | 2029-03-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| AIMBRIDGE ACQUISITION CO INC                          | Aimbridge Acquisition Co Inc 2025 First Out Term Loan                            | CUSIP: 00900YAG1<br>LEI: 549300SPGKLVE9WYCQ20 | Long             | LON              | CORP              | US        |     10832 | PA      | $10787.08     | 0.00%             | 2030-03-11      | Floating      | 9.76%                 | No            |                  2 | On Loan: No      |
| MH SUB I LLC                                          | MH Sub I LLC 2024 Term Loan B4                                                   | CUSIP: 000000000<br>LEI: 2549005VFKP807SR8N49 | Long             | LON              | CORP              | US        |     29596 | PA      | $27191.10     | 0.00%             | 2031-12-31      | Floating      | 8.41%                 | No            |                  2 | On Loan: No      |
| WAYSTAR TECHNOLOGIES INC                              | WAYSTAR TECHNOLOGIES INC 2025 FUNG Add-On TERM LOAN B                            | CUSIP: 63939WAP8<br>LEI: 549300BIRBTAWWHCSZ09 | Long             | LON              | CORP              | US        |     23973 | PA      | $23963.03     | 0.00%             | 2029-10-22      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| LABL INC                                              | LABL Inc                                                                         | CUSIP: 50168QAE5<br>LEI: 5493004FUZN8R6Y3VB98 | Long             | DBT              | CORP              | US        |     96000 | PA      | $81555.65     | 0.01%             | 2028-11-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Central Parent Inc                                    | Central Parent Inc 2024 Term Loan B                                              | CUSIP: 15477BAE7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    140893 | PA      | $121558.19    | 0.02%             | 2029-07-06      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| BUBBLES BIDCO SPA                                     | Bubbles Bidco SPA                                                                | CUSIP: 000000000<br>LEI: 815600073942740CEB24 | Long             | DBT              | CORP              | IT        |    100000 | PA      | $120250.27    | 0.02%             | 2031-09-30      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ATHENAHEALTH GROUP INC                                | AthenaHealth Group Inc                                                           | CUSIP: 60337JAA4<br>LEI: 254900AA3KZN4Q7A5Z33 | Long             | DBT              | CORP              | US        |    268000 | PA      | $265807.22    | 0.05%             | 2030-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| QXO INC                                               | QXO Inc Term Loan B                                                              | CUSIP: 07368RAJ0<br>LEI: 549300HDXQWWCBOYXP31 | Long             | LON              | CORP              | US        |     22667 | PA      | $22838.71     | 0.00%             | 2032-04-30      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| Telenet Financing USD LLC                             | Telenet Financing USD LLC 2020 USD Term Loan AR                                  | CUSIP: 000000000<br>LEI: 213800BMPOX34U6DWN81 | Long             | LON              | CORP              | US        |     15000 | PA      | $14865.60     | 0.00%             | 2028-04-30      | Floating      | 6.28%                 | No            |                  2 | On Loan: No      |
| IT Parent LLC                                         | IT Parent LLC 2021 Term Loan                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    304847 | PA      | $306371.16    | 0.05%             | 2026-10-01      | Floating      | 9.80%                 | No            |                  3 | On Loan: No      |
| KKR APPLE BIDCO LLC                                   | KKR Apple Bidco LLC 2025 Term Loan                                               | CUSIP: 48254EAG6<br>LEI: 2549001SCJD3WEYJFM53 | Long             | LON              | CORP              | US        |    154803 | PA      | $154746.93    | 0.03%             | 2031-09-23      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| Brand Industrial Services Inc                         | Brand Industrial Services Inc 2024 Term Loan B                                   | CUSIP: 10524MAS6<br>LEI: 549300B658W2BPDQMW42 | Long             | LON              | CORP              | US        |    123493 | PA      | $111637.64    | 0.02%             | 2030-08-01      | Floating      | 8.80%                 | No            |                  2 | On Loan: No      |
| STAR ENERGY GEOTHERMAL                                | Star Energy Geothermal Wayang Windu Ltd                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | VG        |    136900 | PA      | $141434.81    | 0.02%             | 2033-04-24      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CP ATLAS BUYER INC                                    | CP Atlas Buyer Inc                                                               | CUSIP: 12597YAC3<br>LEI: 2549006ZZ07G0NDDCR36 | Long             | DBT              | CORP              | US        |      4000 | PA      | $4189.20      | 0.00%             | 2030-07-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| SABRE GLBL INC                                        | Sabre GLBL Inc 2024 Term Loan B2                                                 | CUSIP: 78571YBL3<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | LON              | CORP              | US        |     14105 | PA      | $13258.45     | 0.00%             | 2029-11-15      | Floating      | 10.26%                | No            |                  3 | On Loan: No      |
| Proampac PG Borrower LLC                              | Proampac PG Borrower LLC 2024 Term Loan                                          | CUSIP: 74274NAL7<br>LEI: 549300ZI6LTXYFEY1578 | Long             | LON              | CORP              | US        |      8977 | PA      | $8997.42      | 0.00%             | 2028-09-15      | Floating      | 8.32%                 | No            |                  2 | On Loan: No      |
| Momentive Performance Materials Inc                   | Momentive Performance Materials Inc 2023 Term Loan                               | CUSIP: 60877JAG7<br>LEI: H2OFQI2FJX0T8IHKL414 | Long             | LON              | CORP              | US        |     67449 | PA      | $67651.20     | 0.01%             | 2028-03-29      | Floating      | 8.16%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE SA                                      | Altice France SA                                                                 | CUSIP: 02156LAF8<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |   1700000 | PA      | $1451800.00   | 0.25%             | 2029-07-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| BRITISH TELECOMMUNICATIO                              | British Telecommunications PLC                                                   | CUSIP: 000000000<br>LEI: 549300OWFMSO9NYV4H90 | Long             | DBT              | CORP              | GB        |    107000 | PA      | $154411.39    | 0.03%             | 2083-12-20      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Grant Thornton Advisors LLC                           | Grant Thornton Advisors LLC 2025 Term Loan B                                     | CUSIP: 38821UAD2<br>LEI: 254900XS1SHU0YY3WF58 | Long             | LON              | CORP              | US        |     22634 | PA      | $22479.62     | 0.00%             | 2031-06-02      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| AXIS BANK GANDHINAGAR                                 | Axis Bank Ltd/Gandhinagar                                                        | CUSIP: 000000000<br>LEI: 549300HVNWMJPOFVNI41 | Long             | DBT              | CORP              | IN        |    200000 | PA      | $197000.00    | 0.03%             | 2026-09-08      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| LOTTOMATICA GROUP SPA                                 | Lottomatica Group Spa                                                            | CUSIP: 000000000<br>LEI: 549300R72LKEGT4EX026 | Long             | DBT              | CORP              | IT        |    107000 | PA      | $129440.85    | 0.02%             | 2031-01-31      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Integratecom Inc                                      | Integratecom Inc Delayed Draw Term Loan                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    103074 | PA      | $99105.93     | 0.02%             | 2027-12-15      | Floating      | 10.90%                | No            |                  3 | On Loan: No      |
| MAYA SAS/FRANCE                                       | Maya SAS/Paris France                                                            | CUSIP: 000000000<br>LEI: 9695009PXA7OI9NXN582 | Long             | DBT              | CORP              | FR        |    126000 | PA      | $151089.98    | 0.03%             | 2030-04-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| FIBERCOP SPA                                          | Fibercop SpA                                                                     | CUSIP: 000000000<br>LEI: 8156007022402E114A31 | Long             | DBT              | CORP              | IT        |    128000 | PA      | $152643.72    | 0.03%             | 2030-06-30      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ATLAS LUXCO 4 / ALL UNI                               | Allied Universal Holdco LLC/Allied Universal Finance Corp/Atlas Luxco 4 Sarl     | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    400000 | PA      | $525914.75    | 0.09%             | 2028-06-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| ECL ENTERTAINMENT LLC                                 | ECL Entertainment LLC 2025 Term Loan B                                           | CUSIP: 26826TAM5<br>LEI: 254900UPSGHOBB360Z85 | Long             | LON              | CORP              | US        |     31581 | PA      | $31525.73     | 0.01%             | 2030-08-30      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| FRONERI LUX FINCO SARL                                | FRONERI LUX FINCO SARL 2025 USD TERM LOAN                                        | CUSIP: 000000000<br>LEI: 9845005YBZ75E5AA3B94 | Long             | LON              | CORP              | US        |     49000 | PA      | $48869.66     | 0.01%             | 2032-07-16      | Floating      | 6.63%                 | No            |                  2 | On Loan: No      |
| MEADE PIPELINE CO LLC                                 | MEADE PIPELINE CO LLC TERM LOAN B                                                | CUSIP: 000000000<br>LEI: 254900UZE9CEDHUYSZ47 | Long             | LON              | CORP              | US        |     13000 | PA      | $12983.75     | 0.00%             | 2032-09-22      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| Gryphon Acquire Newco, LLC                            | GRYPHON ACQUIRE NEWCO LLC TERM LOAN B                                            | CUSIP: 40054QAB9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     39000 | PA      | $39085.41     | 0.01%             | 2032-09-13      | Floating      | 6.88%                 | No            |                  2 | On Loan: No      |
| LIVE NATION ENTERTAINMEN                              | Live Nation Entertainment Inc                                                    | CUSIP: 538034AR0<br>LEI: 5493007B9BM9ZXJINO78 | Long             | DBT              | CORP              | US        |      4000 | PA      | $3973.53      | 0.00%             | 2027-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| PAINT INTERMEDIATE III LLC                            | Paint Intermediate III LLC 2024 Term Loan B                                      | CUSIP: 69575EAL3<br>LEI: 549300C2JJM7BNZTR054 | Long             | LON              | CORP              | US        |     23940 | PA      | $23880.15     | 0.00%             | 2031-10-09      | Floating      | 7.24%                 | No            |                  2 | On Loan: No      |
| GC Champion Acquisition LLC                           | GC Champion Acquisition LLC 1st Lien Delayed Draw Term Loan                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     47517 | PA      | $47119.79     | 0.01%             | 2028-08-21      | Floating      | 9.21%                 | No            |                  3 | On Loan: No      |
| Alliant Holdings Intermediate, LLC                    | Alliant Holdings Intermediate LLC 2025 Term Loan B                               | CUSIP: 01881UAN5<br>LEI: 5493006Q26653NF8SI73 | Long             | LON              | CORP              | US        |    345146 | PA      | $344145.53    | 0.06%             | 2031-09-19      | Floating      | 6.67%                 | No            |                  2 | On Loan: No      |
| WR GRACE HOLDING LLC                                  | WR Grace Holdings LLC                                                            | CUSIP: 92943GAF8<br>LEI: 549300WNOVFRGYOAEB12 | Long             | DBT              | CORP              | US        |     45000 | PA      | $44495.10     | 0.01%             | 2032-08-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| WEATHERFORD INTERNATIONA                              | Weatherford International Ltd                                                    | CUSIP: 947075AU1<br>LEI: 549300A2JKMG5PGOGF82 | Long             | DBT              | CORP              | BM        |     18000 | PA      | $18400.52     | 0.00%             | 2030-04-30      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| ASURION LLC                                           | Asurion LLC 2025 Term Loan B13                                                   | CUSIP: 04649VBE9<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |    126643 | PA      | $125746.15    | 0.02%             | 2030-09-19      | Floating      | 8.41%                 | No            |                  2 | On Loan: No      |
| INH BUYER INC                                         | INH BUYER INC                                                                    | CUSIP: 000000000<br>LEI: 549300ACX5KO3W14VI97 | Long             | EC               | CORP              | US        |   1491737 | NS      | $14.92        | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| MUTHOOT FINANCE LTD                                   | Muthoot Finance Ltd                                                              | CUSIP: 62828M2E0<br>LEI: 335800HAMJMBFL4RRF02 | Long             | DBT              | CORP              | IN        |    825000 | PA      | $835560.00    | 0.14%             | 2030-03-02      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| TURQUOISE TOPCO LTD                                   | TURQUOISE TOPCO LTD TERM LOAN B                                                  | CUSIP: 000000000<br>LEI: 254900RI25V4FBT02P38 | Long             | LON              | CORP              | US        |     40000 | PA      | $40025.20     | 0.01%             | 2032-07-31      | Floating      | 7.38%                 | No            |                  2 | On Loan: No      |
| STONEPEAK NILE PARENT                                 | Stonepeak Nile Parent LLC                                                        | CUSIP: 861932AA9<br>LEI: 254900TJV3VAFZD0GU41 | Long             | DBT              | CORP              | US        |      7000 | PA      | $7371.22      | 0.00%             | 2032-03-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| SOFTBANK GROUP CORP                                   | SoftBank Group Corp                                                              | CUSIP: 000000000<br>LEI: 5493003BZYYYCDIO0R13 | Long             | DBT              | CORP              | JP        |    202000 | PA      | $230566.32    | 0.04%             | 2029-07-06      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| MANITOWOC COMPANY INC                                 | Manitowoc Co Inc/The                                                             | CUSIP: 563571AN8<br>LEI: 2RTSLGQ89VMY18RHX631 | Long             | DBT              | CORP              | US        |      8000 | PA      | $8393.70      | 0.00%             | 2031-10-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| INEOS QUATTRO HOLDINGS UK LTD                         | INEOS Quattro Holdings UK Ltd 2024 USD Term Loan B                               | CUSIP: 000000000<br>LEI: 213800HKSMBSJQ32CA45 | Long             | LON              | CORP              | US        |     24875 | PA      | $21309.67     | 0.00%             | 2031-10-07      | Floating      | 8.41%                 | No            |                  2 | On Loan: No      |
| LOXAM SAS                                             | Loxam SAS                                                                        | CUSIP: 000000000<br>LEI: 969500BNA2YRNE1R5K91 | Long             | DBT              | CORP              | FR        |    147000 | PA      | $173441.30    | 0.03%             | 2030-02-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO                              | Clear Channel Outdoor Holdings Inc                                               | CUSIP: 18453HAH9<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |     98000 | PA      | $102465.76    | 0.02%             | 2033-03-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE LUFTHANSA AG                                 | Deutsche Lufthansa AG                                                            | CUSIP: 000000000<br>LEI: 529900PH63HYJ86ASW55 | Long             | DBT              | CORP              | DE        |    200000 | PA      | $242293.12    | 0.04%             | 2055-01-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SAPPI PAPIER HOLDNG GMBH                              | Sappi Papier Holding GmbH                                                        | CUSIP: 000000000<br>LEI: 549300XBCUMUR5CI0181 | Long             | DBT              | CORP              | AT        |    305000 | PA      | $353235.54    | 0.06%             | 2032-03-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| LOTTOMATICA GROUP SPA                                 | Lottomatica Group Spa                                                            | CUSIP: 000000000<br>LEI: 549300R72LKEGT4EX026 | Long             | DBT              | CORP              | IT        |    100000 | PA      | $118104.12    | 0.02%             | 2031-06-01      | Floating      | 5.30%                 | No            |                  2 | On Loan: No      |
| Quikrete Holdings Inc                                 | Quikrete Holdings Inc 2024 Term Loan B1                                          | CUSIP: 74839XAK5<br>LEI: 5493007KIN86DIZWZT22 | Long             | LON              | CORP              | US        |     64186 | PA      | $64202.51     | 0.01%             | 2029-03-19      | Floating      | 6.41%                 | No            |                  2 | On Loan: No      |
| TUI CRUISES GMBH                                      | TUI Cruises GmbH                                                                 | CUSIP: 000000000<br>LEI: 529900SVD83QUUIZYY18 | Long             | DBT              | CORP              | DE        |    100000 | PA      | $120538.48    | 0.02%             | 2030-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TALKTALK TELECOM GROUP                                | TalkTalk Telecom Group Ltd                                                       | CUSIP: 000000000<br>LEI: 213800WF53FVDRRHRF44 | Long             | DBT              | CORP              | GB        |     33188 | PA      | $32807.20     | 0.01%             | 2027-09-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| BEAUTY HEALTH CO/THE                                  | Beauty Health Co/The                                                             | CUSIP: 88331LAA6<br>LEI: 5493001Z2JZQT4C63C50 | Long             | DBT              | CORP              | US        |   4250000 | PA      | $3827125.00   | 0.65%             | 2026-10-01      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| Applied Systems Inc                                   | Applied Systems Inc 2024 1st Lien Term Loan                                      | CUSIP: 03827FBD2<br>LEI: 549300NSKGF0SY5SWQ62 | Long             | LON              | CORP              | US        |    181104 | PA      | $181154.34    | 0.03%             | 2031-02-24      | Floating      | 6.25%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                                          | Enbridge Inc                                                                     | CUSIP: 29250NCG8<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |     15000 | PA      | $15869.85     | 0.00%             | 2055-03-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| ASTRA ACQUISITION CORP                                | Astra Acquisition Corp 2024 New Money Term Loan A                                | CUSIP: 04629UAN6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1174026 | PA      | $230402.69    | 0.04%             | 2028-02-25      | Floating      | 11.08%                | No            |                  2 | On Loan: No      |
| CLOVER HOLDINGS 2 LLC                                 | Clover Holdings 2 LLC Fixed Term Loan B                                          | CUSIP: 18914DAC2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    214462 | PA      | $215669.92    | 0.04%             | 2031-12-09      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Calpine Construction Finance Company LP               | Calpine Construction Finance Company LP 2023 Refinancing Term Loan B             | CUSIP: 13134NAH4<br>LEI: V0Q3DOB0FIB2XI1KWU77 | Long             | LON              | CORP              | US        |     83730 | PA      | $83719.56     | 0.01%             | 2030-07-31      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| Supergoop LLC                                         | Supergoop LLC Term Loan                                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1155000 | PA      | $1144794.09   | 0.19%             | 2028-12-29      | Floating      | 10.01%                | No            |                  3 | On Loan: No      |
| VENTURE GLOBAL LNG INC                                | Venture Global LNG Inc                                                           | CUSIP: 92332YAB7<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |    115000 | PA      | $120746.59    | 0.02%             | 2031-06-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| FIBERCOP SPA                                          | Fibercop SpA                                                                     | CUSIP: 000000000<br>LEI: 8156007022402E114A31 | Long             | DBT              | CORP              | IT        |    100000 | PA      | $119331.99    | 0.02%             | 2032-06-30      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| ALBION FINANCING 1SARL /                              | Albion Financing 1 SARL / Aggreko Holdings Inc                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    113000 | PA      | $137625.27    | 0.02%             | 2030-05-21      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| H.B. Fuller Company                                   | HB Fuller Company 2025 Term Loan B                                               | CUSIP: 40409VAW4<br>LEI: JSMX3Z5FOYM8V0Q52357 | Long             | LON              | CORP              | US        |     45194 | PA      | $45335.84     | 0.01%             | 2030-02-15      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| Covia Holdings Corporation                            | Covia Holdings Corporation 2025 Repriced Term Loan B                             | CUSIP: 22305CAF6<br>LEI: 213800IE4YGTGVTQ1806 | Long             | LON              | CORP              | US        |     19950 | PA      | $20024.81     | 0.00%             | 2032-02-26      | Floating      | 6.95%                 | No            |                  2 | On Loan: No      |
| KELLERMEYER BERGENSONS COMMON                         | KELLERMEYER BERGENSONS COMMON                                                    | CUSIP: 000000000<br>LEI: 54930034MXTH6MFOLN53 | Long             | EC               | CORP              | US        |     45118 | NS      | $0.45         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| CLEARWATER ANALYTICS LLC                              | Clearwater Analytics LLC 2025 Term Loan B                                        | CUSIP: 18512EAF9<br>LEI: 894500N8DN2JO5ZDRQ11 | Long             | LON              | CORP              | US        |     46000 | PA      | $46000.00     | 0.01%             | 2032-04-21      | Floating      | 6.46%                 | No            |                  2 | On Loan: No      |
| American Airlines Inc                                 | American Airlines Inc 2023 1st Lien Term Loan                                    | CUSIP: 02376CBM6<br>LEI: IWUQB36BXD6OWD6X4T14 | Long             | LON              | CORP              | US        |     63310 | PA      | $63171.35     | 0.01%             | 2029-06-04      | Floating      | 6.26%                 | No            |                  2 | On Loan: No      |
| WHITE CAP BUYER LLC                                   | White Cap Buyer LLC                                                              | CUSIP: 96350RAA2<br>LEI: 254900L2N0T6GULCL366 | Long             | DBT              | CORP              | US        |    189000 | PA      | $188438.58    | 0.03%             | 2028-10-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| LOXAM SAS                                             | Loxam SAS                                                                        | CUSIP: 000000000<br>LEI: 969500BNA2YRNE1R5K91 | Long             | DBT              | CORP              | FR        |    100000 | PA      | $117451.86    | 0.02%             | 2031-02-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO                              | Clear Channel Outdoor Holdings Inc                                               | CUSIP: 18453HAC0<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11978.18     | 0.00%             | 2028-04-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Advisor Group Inc                                     | Advisor Group Inc 2025 Term Loan                                                 | CUSIP: 68773JAG5<br>LEI: 549300XL60BDV6UW5C86 | Long             | LON              | CORP              | US        |    100000 | PA      | $99926.00     | 0.02%             | 2032-07-30      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| PAI Holdco Inc                                        | PAI Holdco Inc 2020 Term Loan B                                                  | CUSIP: 69315JAG8<br>LEI: 2549001NJ55NUV372F56 | Long             | LON              | CORP              | US        |     22838 | PA      | $19023.96     | 0.00%             | 2027-10-28      | Floating      | 8.32%                 | No            |                  2 | On Loan: No      |
| WORLDLINE SA/FRANCE                                   | Worldline SA/France                                                              | CUSIP: 000000000<br>LEI: 549300CJMQNCA0U4TS33 | Long             | DBT              | CORP              | FR        |    100000 | PA      | $98886.94     | 0.02%             | 2027-06-30      | Fixed         | 0.88%                 | No            |                  2 | On Loan: No      |
| RYAN SPECIALTY GROUP LLC                              | Ryan Specialty Group LLC 2024 USD Term Loan B                                    | CUSIP: 78350UAJ4<br>LEI: 549300K52N7QBO3PYY45 | Long             | LON              | CORP              | US        |    131858 | PA      | $131817.24    | 0.02%             | 2031-09-15      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| JANE STREET GROUP LLC                                 | Jane Street Group LLC 2024 Term Loan B1                                          | CUSIP: 47077DAM2<br>LEI: 5493002N1IVX6KHGYO08 | Long             | LON              | CORP              | US        |    110056 | PA      | $109139.25    | 0.02%             | 2031-12-15      | Floating      | 6.20%                 | No            |                  2 | On Loan: No      |
| Acquia Inc                                            | Acquia Inc Revolver                                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     35951 | PA      | $35950.58     | 0.01%             | 2026-10-30      | Floating      | 10.45%                | No            |                  3 | On Loan: No      |
| APOLLO DEBT SOLUTIONS BD                              | Apollo Debt Solutions BDC                                                        | CUSIP: 03770DAD5<br>LEI: 549300UMUGX092P8DW87 | Long             | DBT              | CORP              | US        |     15000 | PA      | $15897.17     | 0.00%             | 2031-07-29      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| Altice USA Inc                                        | Altice USA Inc                                                                   | CUSIP: 02156K103<br>LEI: 54930064K3612MGCER95 | Long             | EC               | CORP              | US        |    173678 | NS      | $418563.98    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| CSC Holdings LLC                                      | CSC Holdings LLC 2022 Term Loan B6                                               | CUSIP: 64072UAM4<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | LON              | CORP              | US        |  10017761 | PA      | $9946935.89   | 1.69%             | 2028-01-18      | Floating      | 8.65%                 | No            |                  2 | On Loan: No      |
| ICAHN ENTERPRISES/FIN                                 | Icahn Enterprises LP / Icahn Enterprises Finance Corp                            | CUSIP: 451102BZ9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     84000 | PA      | $82567.48     | 0.01%             | 2027-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TELEFONICA EUROPE BV                                  | Telefonica Europe BV                                                             | CUSIP: 000000000<br>LEI: 7245007FZS0M65WUGP67 | Long             | DBT              | CORP              | NL        |    300000 | PA      | $393292.30    | 0.07%             | 2031-06-07      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CITYCON TREASURY BV                                   | Citycon Treasury BV                                                              | CUSIP: 000000000<br>LEI: 549300WAE0CGQ0IE1H63 | Long             | DBT              | CORP              | NL        |    300000 | PA      | $354173.21    | 0.06%             | 2031-07-08      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| SOFTBANK GROUP CORP                                   | SoftBank Group Corp                                                              | CUSIP: 000000000<br>LEI: 5493003BZYYYCDIO0R13 | Long             | DBT              | CORP              | JP        |    151000 | PA      | $185240.92    | 0.03%             | 2032-07-08      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Ballyrock Ltd                                         | Ballyrock CLO 2019-2 Ltd                                                         | CUSIP: 05875MAZ5<br>LEI: 254900IF22Z7SA13VI60 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1001482.40   | 0.17%             | 2036-02-20      | Floating      | 6.60%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                                 | Level 3 Financing Inc                                                            | CUSIP: 527298CF8<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |      6500 | PA      | $5675.11      | 0.00%             | 2030-10-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP INC                                | Cloud Software Group Inc                                                         | CUSIP: 88632QAE3<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |    195000 | PA      | $196758.96    | 0.03%             | 2029-03-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| THUNDER PURCHASER INC                                 | Thunder Purchaser Inc 2024 Refinancing Term Loan                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3049328 | PA      | $3024086.03   | 0.51%             | 2028-06-30      | Floating      | 9.40%                 | No            |                  3 | On Loan: No      |
| Aventiv Technologies LLC                              | Aventiv Technologies LLC 2025 5th Amendment Incremental Bridge Loan              | CUSIP: 05358AAV6<br>LEI: 549300EBCNNXVCJ2FW66 | Long             | LON              | CORP              | US        |   3000000 | PA      | $3135000.00   | 0.53%             | 2026-03-25      | Floating      | 14.58%                | No            |                  2 | On Loan: No      |
| Pakistan Government International Bonds               | Pakistan Government International Bonds                                          | CUSIP: 000000000<br>LEI: 529900LOP29R5WKHOD86 | Long             | DBT              | NUSS              | PK        |    300000 | PA      | $298500.00    | 0.05%             | 2026-04-08      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| STARWOOD PROPERTY TRUST                               | Starwood Property Trust Inc                                                      | CUSIP: 85571BBD6<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              |  | US        |     12000 | PA      | $12412.12     | 0.00%             | 2030-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| SABRE GLBL INC                                        | Sabre GLBL Inc 2024 Term Loan B1                                                 | CUSIP: 78571YBK5<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | LON              | CORP              | US        |     25732 | PA      | $24188.30     | 0.00%             | 2029-11-15      | Floating      | 10.26%                | No            |                  3 | On Loan: No      |
| Light and Wonder International, Inc.                  | Light and Wonder International Inc 2024 Term Loan B2                             | CUSIP: 80875AAW1<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | LON              | CORP              | US        |    101179 | PA      | $101243.10    | 0.02%             | 2029-04-14      | Floating      | 6.39%                 | No            |                  2 | On Loan: No      |
| Madison IAQ LLC                                       | Madison IAQ LLC Term Loan                                                        | CUSIP: 55759VAB4<br>LEI: 549300IXDNBXNHUPBU73 | Long             | LON              | CORP              | US        |    188846 | PA      | $188877.76    | 0.03%             | 2028-06-21      | Floating      | 6.70%                 | No            |                  2 | On Loan: No      |
| CURRENTA GROUP HOLDINGS                               | Currenta Group Holdings Sarl                                                     | CUSIP: 000000000<br>LEI: 222100SF79KCJKYUPE47 | Long             | DBT              | CORP              | LU        |    100000 | PA      | $118336.91    | 0.02%             | 2032-05-15      | Floating      | 6.04%                 | No            |                  2 | On Loan: No      |
| RealPage Inc                                          | RealPage Inc 1st Lien Term Loan                                                  | CUSIP: 75605VAD4<br>LEI: 5493001RSFZX4122A604 | Long             | LON              | CORP              | US        |     83921 | PA      | $83689.73     | 0.01%             | 2028-04-24      | Floating      | 7.26%                 | No            |                  2 | On Loan: No      |
| BUILDERS FIRSTSOURCE INC                              | Builders FirstSource Inc                                                         | CUSIP: 12008RAT4<br>LEI: 549300W0SKP6L3H7DP63 | Long             | DBT              | CORP              | US        |     13000 | PA      | $13573.72     | 0.00%             | 2035-05-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| HARVEST MIDSTREAM I LP                                | Harvest Midstream I LP                                                           | CUSIP: 417558AB9<br>LEI: 549300DW5M17KJOXCY66 | Long             | DBT              | CORP              | US        |     28000 | PA      | $28602.14     | 0.00%             | 2032-05-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| RCI BANQUE SA                                         | RCI Banque SA                                                                    | CUSIP: 000000000<br>LEI: 96950001WI712W7PQG45 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $234692.73    | 0.04%             | 2030-09-24      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| SKYDIO INC                                            | SKYDIO Inc Term Loan                                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     51041 | PA      | $50581.38     | 0.01%             | 2029-12-04      | Floating      | 7.00%                 | No            |                  3 | On Loan: No      |
| RAZOR GROUP GMBH COMMON UNITS                         | RAZOR GROUP GMBH COMMON UNITS                                                    | CUSIP: 000000000<br>LEI: 984500A70HT9566EC150 | Long             | EC               | CORP              | US        |     31821 | NS      | $0.32         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| ComPsych Investment Corp                              | ComPsych Investment Corp 2024 Term Loan                                          | CUSIP: 000000000<br>LEI: 2549006F606IHEKYP436 | Long             | LON              | CORP              | US        |   3291509 | PA      | $3324423.92   | 0.57%             | 2031-07-22      | Floating      | 9.08%                 | No            |                  3 | On Loan: No      |
| Electron BidCo Inc                                    | Electron BidCo Inc 2021 Term Loan                                                | CUSIP: 28542CAC3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    109622 | PA      | $109809.39    | 0.02%             | 2028-11-01      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| Go Daddy Operating Company LLC                        | Go Daddy Operating Company LLC 2024 Term Loan B8                                 | CUSIP: 38017BAX4<br>LEI: 5493005GJOH8HLL11157 | Long             | LON              | CORP              | US        |     81774 | PA      | $81653.72     | 0.01%             | 2029-11-09      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| CMG MEDIA CORPORATION                                 | CMG Media Corp                                                                   | CUSIP: 125773AA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     28000 | PA      | $25715.76     | 0.00%             | 2029-06-18      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| CLYDESDALE ACQUISITION                                | Clydesdale Acquisition Holdings Inc                                              | CUSIP: 18972EAA3<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |     23000 | PA      | $23261.99     | 0.00%             | 2029-04-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| RESEARCH NOW GROUP INC                                | Research Now Group Inc 2024 First Lien Second Out Term Loan                      | CUSIP: 76100MAC4<br>LEI: 549300XTHJNIVC5Q8K50 | Long             | LON              | CORP              | US        |   5707596 | PA      | $4646953.61   | 0.79%             | 2028-10-15      | Floating      | 9.96%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC                                     | Herc Holdings Inc                                                                | CUSIP: 42704LAF1<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |     29000 | PA      | $30123.05     | 0.01%             | 2030-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| WYNN RESORTS FINANCE LLC                              | Wynn Resorts Finance LLC / Wynn Resorts Capital Corp                             | CUSIP: 983133AC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     71000 | PA      | $76420.55     | 0.01%             | 2031-02-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| ARDONAGH MIDCO 3 PLC                                  | Ardonagh Midco 3 PLC 2024 USD Term Loan B                                        | CUSIP: 000000000<br>LEI: 254900YP2E642AGM4G32 | Long             | LON              | CORP              | AU        |    112485 | PA      | $111829.21    | 0.02%             | 2031-02-15      | Floating      | 6.95%                 | No            |                  2 | On Loan: No      |
| USA COM PART/USA COM FIN                              | USA Compression Partners LP / USA Compression Finance Corp                       | CUSIP: 91740PAH1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     42000 | PA      | $42160.66     | 0.01%             | 2033-10-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| MEHILAINEN YHTIOT OY                                  | Mehilainen Yhtiot Oy                                                             | CUSIP: 000000000<br>LEI: 2138006X78HGYRHS5865 | Long             | DBT              | CORP              | FI        |    100000 | PA      | $119895.24    | 0.02%             | 2032-06-30      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| FILTRATION GROUP CORPORATION                          | Filtration Group Corporation 2025 USD Term Loan                                  | CUSIP: 31732FAX4<br>LEI: 549300ZA0D9WN5ECE978 | Long             | LON              | CORP              | US        |    154360 | PA      | $154939.09    | 0.03%             | 2028-10-21      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| TEAM HEALTH HOLDINGS INC                              | Team Health Holdings Inc 2025 Term Loan B                                        | CUSIP: 87817JAH1<br>LEI: 549300PVTQ4UDTTMQT11 | Long             | LON              | CORP              | US        |     19950 | PA      | $19895.94     | 0.00%             | 2028-06-30      | Floating      | 8.80%                 | No            |                  2 | On Loan: No      |
| Genesys Cloud Services Holdings II LLC                | Genesys Cloud Services Holdings II LLC 2025 USD Term Loan B                      | CUSIP: 39479UAY9<br>LEI: 254900CRMBG6WX4HX396 | Long             | LON              | CORP              | US        |    274500 | PA      | $272499.23    | 0.05%             | 2032-01-30      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| CD&R FIREFLY BIDCO LTD                                | CD&R Firefly Bidco PLC                                                           | CUSIP: 000000000<br>LEI: 213800OAU5VX61DYZ558 | Long             | DBT              | CORP              | GB        |    337000 | PA      | $476179.38    | 0.08%             | 2029-04-30      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| PIKE CORP                                             | Pike Corp                                                                        | CUSIP: 721283AB5<br>LEI: 549300P4EKEP6HK0NC58 | Long             | DBT              | CORP              | US        |      5000 | PA      | $5363.74      | 0.00%             | 2031-01-31      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| Generate CLO Ltd.                                     | Generate CLO 7 Ltd                                                               | CUSIP: 37149LAL1<br>LEI: 25490036G9JNQQPHIX69 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1003366.70   | 0.17%             | 2037-04-22      | Floating      | 5.95%                 | No            |                  2 | On Loan: No      |
| EPICOR SOFTWARE CORPORATION                           | Epicor Software Corporation 2024 Term Loan F                                     | CUSIP: 29426NAZ7<br>LEI: JGNXVGGGXR4O1L5I7S73 | Long             | LON              | CORP              | US        |    151775 | PA      | $151892.09    | 0.03%             | 2031-05-30      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| EMRLD BORROWER LP                                     | EMRLD Borrower LP 2024 Term Loan B                                               | CUSIP: 26872NAD1<br>LEI: 5493000GJYE7GAQCUC61 | Long             | LON              | CORP              | US        |     84450 | PA      | $84043.70     | 0.01%             | 2031-08-04      | Floating      | 6.12%                 | No            |                  2 | On Loan: No      |
| METHANEX US OPERATIONS                                | Methanex US Operations Inc                                                       | CUSIP: 59151LAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     11000 | PA      | $11192.15     | 0.00%             | 2032-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| CUBE INDUSTRIALS BUYER INC                            | Cube Industrials Buyer Inc 2024 Term Loan                                        | CUSIP: 22971EAB4<br>LEI: 25490058FG1NWDNJ5K52 | Long             | LON              | CORP              | US        |     13930 | PA      | $13964.83     | 0.00%             | 2031-10-17      | Floating      | 7.58%                 | No            |                  2 | On Loan: No      |
| SABRE GLBL INC                                        | Sabre GLBL Inc                                                                   | CUSIP: 78573NAJ1<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | DBT              | CORP              | US        |     24000 | PA      | $24343.69     | 0.00%             | 2027-06-01      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| Options Clearing Corp.                                | ISHARES RUSSELL 2000 ETF                                                         | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |       841 | NC      | $2102.50      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| FORVIA SE                                             | Forvia SE                                                                        | CUSIP: 000000000<br>LEI: 969500F0VMZLK2IULV85 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $241420.73    | 0.04%             | 2031-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| UNIQUE PUB FINANCE CO                                 | Unique Pub Finance Co PLC/The                                                    | CUSIP: 000000000<br>LEI: 213800FOMWLKHQTI5562 | Long             | ABS-O            | CORP              | GB        |    103396 | PA      | $145139.17    | 0.02%             | 2032-03-30      | Fixed         | 6.46%                 | No            |                  2 | On Loan: No      |
| MAGENTA SECURITY HOLDINGS LLC                         | Magenta Security Holdings LLC 2024 Third Out Term Loan                           | CUSIP: 55909UAG4<br>LEI: 254900F51KU7HIRXTS68 | Long             | LON              | CORP              | US        |   1255833 | PA      | $250124.16    | 0.04%             | 2028-07-27      | Floating      | 10.48%                | No            |                  2 | On Loan: No      |
| MITSUBISHI UFJ FIN GRP                                | Mitsubishi UFJ Financial Group Inc                                               | CUSIP: 606822DD3<br>LEI: 353800V2V8PUY9TK3E06 | Long             | DBT              | CORP              | JP        |    425000 | PA      | $466010.38    | 0.08%             | 2029-01-15      | Fixed         | 8.20%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                                | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |         1 | NC      | $-1218.67     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                                        | Bombardier Inc                                                                   | CUSIP: 097751CA7<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |     33000 | PA      | $35586.94     | 0.01%             | 2030-11-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| MATCH GROUP HLD II LLC                                | Match Group Holdings II LLC                                                      | CUSIP: 57667JAC6<br>LEI: 5493003RFFE030RC9167 | Long             | DBT              | CORP              | US        |     26000 | PA      | $26228.41     | 0.00%             | 2033-09-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| Alcami Corporation                                    | Alcami Corporation 2022 Delayed Draw Term Loan                                   | CUSIP: 000000000<br>LEI: 549300N6RRHE77KDYX80 | Long             | LON              | CORP              | US        |      5099 | PA      | $5098.61      | 0.00%             | 2028-12-21      | Floating      | 11.24%                | No            |                  3 | On Loan: No      |
| RCI BANQUE SA                                         | RCI Banque SA                                                                    | CUSIP: 000000000<br>LEI: 96950001WI712W7PQG45 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $246992.79    | 0.04%             | 2034-10-09      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| THUNDER PURCHASER INC                                 | Thunder Purchaser Inc 2024 Incremental Term Loan                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    385644 | PA      | $382466.71    | 0.07%             | 2028-06-30      | Floating      | 9.40%                 | No            |                  3 | On Loan: No      |
| RIVERS ENTERPRISE                                     | Rivers Enterprise Borrower LLC / Rivers Enterprise Finance Corp                  | CUSIP: 76883NAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     13000 | PA      | $13173.34     | 0.00%             | 2033-02-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| FOOD SERVICE PROJECT SL                               | Food Service Project SA                                                          | CUSIP: 000000000<br>LEI: 95980020140005812514 | Long             | DBT              | CORP              | ES        |    200000 | PA      | $235484.33    | 0.04%             | 2027-01-21      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Quorum Health Corporation                             | Quorum Health Corporation 2020 Term Loan                                         | CUSIP: 74909HAE9<br>LEI: 549300PO3E4YREFT1I57 | Long             | LON              | CORP              | US        |   3673198 | PA      | $2626336.66   | 0.45%             | 2028-01-28      | Floating      | 10.60%                | No            |                  2 | On Loan: No      |
| AFFLELOU SAS                                          | Afflelou SAS                                                                     | CUSIP: 000000000<br>LEI: 969500I7CS80FNB7CZ43 | Long             | DBT              | CORP              | FR        |    244000 | PA      | $298816.66    | 0.05%             | 2029-07-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| INEOS US Finance LLC                                  | Ineos US Finance LLC 2023 USD Term Loan B                                        | CUSIP: 000000000<br>LEI: 5493008MHJ4R367SNK31 | Long             | LON              | CORP              | US        |     29477 | PA      | $26603.21     | 0.00%             | 2030-02-18      | Floating      | 7.41%                 | No            |                  2 | On Loan: No      |
| NEW IMMO HOLDING SA                                   | New Immo Holding SA                                                              | CUSIP: 000000000<br>LEI: 5493007LOTJ0I8E94R81 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $231372.71    | 0.04%             | 2027-07-23      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| DIVERSIFIED HEALTHCARE T                              | Diversified Healthcare Trust                                                     | CUSIP: 25525PAC1<br>LEI: N/A                  | Long             | DBT              |  | US        |   1431000 | PA      | $1415282.18   | 0.24%             | 2026-01-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Spartan Bidco Pty Ltd                                 | Spartan Bidco Pty Ltd Revolver                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | AU        |    230769 | PA      | $229803.15    | 0.04%             | 2028-01-24      | Fixed         | 0.50%                 | No            |                  3 | On Loan: No      |
| Traack Technologies Inc                               | Traack Technologies Inc Term Loan                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    400000 | PA      | $396700.14    | 0.07%             | 2025-09-15      | Floating      | 11.35%                | No            |                  3 | On Loan: No      |
| Bynder Holding BV                                     | Bynder Holding BV Term Loan Tranche A                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | NL        |     15000 | PA      | $15018.96     | 0.00%             | 2029-01-26      | Floating      | 10.14%                | No            |                  3 | On Loan: No      |
| CATURUS ENERGY LLC                                    | Caturus Energy LLC                                                               | CUSIP: 49446BAA2<br>LEI: 254900LM244SIFQ1QY31 | Long             | DBT              | CORP              | US        |     43000 | PA      | $44770.25     | 0.01%             | 2030-02-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| NOMURA HOLDINGS INC                                   | Nomura Holdings Inc                                                              | CUSIP: 65535HCC1<br>LEI: 549300B3CEAHYG7K8164 | Long             | DBT              | CORP              | JP        |    200000 | PA      | $207019.20    | 0.04%             | 2030-07-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                               | Frontier Communications Holdings LLC                                             | CUSIP: 35908MAA8<br>LEI: 549300ZCZ76HYCS0H445 | Long             | DBT              | CORP              | US        |     10416 | PA      | $10525.61     | 0.00%             | 2029-11-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| MAJORDRIVE HOLDINGS IV L                              | MajorDrive Holdings IV LLC                                                       | CUSIP: 56085RAA8<br>LEI: 25490044R1FR5N8FIT62 | Long             | DBT              | CORP              | US        |     45000 | PA      | $36876.31     | 0.01%             | 2029-06-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| STAPLES INC                                           | Staples Inc                                                                      | CUSIP: 855030AQ5<br>LEI: XQM2JINI1UL7642TU573 | Long             | DBT              | CORP              | US        |      9000 | PA      | $8898.93      | 0.00%             | 2029-09-01      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| ECHOSTAR CORP                                         | EchoStar Corp                                                                    | CUSIP: 278768AA4<br>LEI: 549300EE20907QZ9GT38 | Long             | DBT              | CORP              | US        |    135254 | PA      | $139440.11    | 0.02%             | 2030-11-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| LIFEPOINT HEALTH INC                                  | LifePoint Health Inc 2024 1st Lien Term Loan B                                   | CUSIP: 75915TAK8<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | LON              | CORP              | US        |     54762 | PA      | $54619.43     | 0.01%             | 2031-05-19      | Floating      | 8.07%                 | No            |                  2 | On Loan: No      |
| SURGERY CENTER HOLDINGS                               | Surgery Center Holdings Inc                                                      | CUSIP: 86881WAF9<br>LEI: 54930054EVI5HWPPW113 | Long             | DBT              | CORP              | US        |    116000 | PA      | $119160.54    | 0.02%             | 2032-04-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| RIYAD SUKUK                                           | Riyad Sukuk Ltd                                                                  | CUSIP: 000000000<br>LEI: 549300P8GI2KKEMZUH97 | Long             | DBT              | CORP              | KY        |    400000 | PA      | $407830.00    | 0.07%             | 2035-07-14      | Fixed         | 6.21%                 | No            |                  2 | On Loan: No      |
| WR GRACE HOLDING LLC                                  | WR Grace Holdings LLC                                                            | CUSIP: 92943GAD3<br>LEI: 549300WNOVFRGYOAEB12 | Long             | DBT              | CORP              | US        |      3000 | PA      | $2981.40      | 0.00%             | 2027-06-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| HEATHROW FINANCE PLC                                  | Heathrow Finance PLC                                                             | CUSIP: 000000000<br>LEI: 549300F740QSGMPHQJ60 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $135133.44    | 0.02%             | 2031-03-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| LJ Avalon Holdings LLC                                | LJ Avalon Holdings LLC Delayed Draw Term Loan                                    | CUSIP: 000000000<br>LEI: 254900GH43JWLMR1ZG27 | Long             | LON              | CORP              | US        |    107677 | PA      | $107676.53    | 0.02%             | 2030-02-01      | Floating      | 8.67%                 | No            |                  3 | On Loan: No      |

### Signature

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

**Name of Applicant:** BlackRock Credit Strategies Fund

**Signature:** Chuck Pulsfort

**Name of Signer:** Chuck Pulsfort

**Title:** Assistant Treasurer