# EDGAR Filing Document

**Accession Number:** 0000822977
**File Stem:** 0001410368-25-007896
**Filing Date:** 2025-9
**Character Count:** 635903
**Document Hash:** 7d532693540adc77729593a5b904ac7e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-25-007896.hdr.sgml**: 20250922

**ACCESSION NUMBER**: 0001410368-25-007896

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20250922

**DATE AS OF CHANGE**: 20250922

**PERIOD START**: 20251031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** GOLDMAN SACHS TRUST
- **CENTRAL INDEX KEY:** 0000822977

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05349
- **FILM NUMBER:** 251329126

**BUSINESS ADDRESS:**
- **STREET 1:** 71  SOUTH WACKER DRIVE
- **STREET 2:** C/O GOLDMAN SACHS & CO
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606
- **BUSINESS PHONE:** 3126554400

**MAIL ADDRESS:**
- **STREET 1:** 200 WEST STREET
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10282

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** GOLDMAN SACHS SHORT INTERMEDIATE GOVERNMENT FUND
- **DATE OF NAME CHANGE:** 19910711

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SHORT INTERMEDIATE GOVERNMENT FUND
- **DATE OF NAME CHANGE:** 19900104

## Series and Classes Contracts Data

### Goldman Sachs Income Builder Fund (Series ID: S000009342)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000025613 | Institutional   | GSBIX           |
| C000025615 | Class A         | GSBFX           |
| C000025617 | Class C         | GSBCX           |
| C000091959 | Investor Shares | GKIRX           |
| C000161511 | Class R6 Shares | GSBUX           |
| C000201720 | Class P Shares  | GGKPX           |

## Nport-Ex

GOLDMAN SACHS INCOME BUILDER FUND

## Schedule of Investments
*July 31, 2025 (Unaudited)* 

---

| | | | |
|:---|:---|:---|:---|
| **Principal**<br> **Amount** | **Interest**<br> **Rate** | **Maturity**<br> **Date** | **Value** |
| **Corporate Obligations** – **45.1%** | **Corporate Obligations** – **45.1%** | **Corporate Obligations** – **45.1%** | **Corporate Obligations** – **45.1%** |
| **Advertising<sup>(a)(b)</sup>** – **0.2%** | **Advertising<sup>(a)(b)</sup>** – **0.2%** | **Advertising<sup>(a)(b)</sup>** – **0.2%** | **Advertising<sup>(a)(b)</sup>** – **0.2%** |
| Clear Channel Outdoor Holdings, Inc. | Clear Channel Outdoor Holdings, Inc. | Clear Channel Outdoor Holdings, Inc. | Clear Channel Outdoor Holdings, Inc. |
| 3080000 | 7.875% | 04/01/30 | $3169536 |
| 883000 | 7.125 | 02/15/31 | 881764 |
| 980000 | 7.500 | 03/15/33 | 977295 |
|  |  |  | 5028595 |
| **Aerospace & Defense<sup>(a)</sup>** – **0.9%** | **Aerospace & Defense<sup>(a)</sup>** – **0.9%** | **Aerospace & Defense<sup>(a)</sup>** – **0.9%** | **Aerospace & Defense<sup>(a)</sup>** – **0.9%** |
| Boeing Co. | Boeing Co. | Boeing Co. | Boeing Co. |
| 3292000 | 5.150 | 05/01/30 | 3344014 |
| 1587000 | 5.805 | 05/01/50 | 1528630 |
| Bombardier, Inc.<sup>(b)</sup> | Bombardier, Inc.<sup>(b)</sup> | Bombardier, Inc.<sup>(b)</sup> | Bombardier, Inc.<sup>(b)</sup> |
| 4165000 | 7.000 | 06/01/32 | 4310442 |
| Czechoslovak Group AS<sup>(b)</sup>  | Czechoslovak Group AS<sup>(b)</sup>  | Czechoslovak Group AS<sup>(b)</sup>  | Czechoslovak Group AS<sup>(b)</sup>  |
| 100000 | 5.250 | 01/10/31 | 117258 |
| 200000 | 6.500 | 01/10/31 | 202178 |
| Spirit AeroSystems, Inc.<sup>(b)</sup> | Spirit AeroSystems, Inc.<sup>(b)</sup> | Spirit AeroSystems, Inc.<sup>(b)</sup> | Spirit AeroSystems, Inc.<sup>(b)</sup> |
| 2735000 | 9.750 | 11/15/30 | 3012356 |
| TransDigm, Inc. | TransDigm, Inc. | TransDigm, Inc. | TransDigm, Inc. |
| 1965000 | 6.750 <sup>(b)</sup> | 08/15/28 | 2005224 |
| 6615000 | 4.625 | 01/15/29 | 6466427 |
| 2156000 | 4.875 | 05/01/29 | 2115036 |
| 95000 | 7.125 <sup>(b)</sup> | 12/01/31 | 98944 |
|  |  |  | 23200509 |
| **Agriculture<sup>(a)</sup>** – **0.2%** | **Agriculture<sup>(a)</sup>** – **0.2%** | **Agriculture<sup>(a)</sup>** – **0.2%** | **Agriculture<sup>(a)</sup>** – **0.2%** |
| BAT Capital Corp. | BAT Capital Corp. | BAT Capital Corp. | BAT Capital Corp. |
| 6715000 | 4.390 | 08/15/37 | 5998107 |
| **Airlines** – **0.6%** | **Airlines** – **0.6%** | **Airlines** – **0.6%** | **Airlines** – **0.6%** |
| American Airlines, Inc./AAdvantage Loyalty IP Ltd.<sup>(b)</sup> | American Airlines, Inc./AAdvantage Loyalty IP Ltd.<sup>(b)</sup> | American Airlines, Inc./AAdvantage Loyalty IP Ltd.<sup>(b)</sup> | American Airlines, Inc./AAdvantage Loyalty IP Ltd.<sup>(b)</sup> |
| 1647000 | 5.750 | 04/20/29 | 1646374 |
| Delta Air Lines, Inc.<sup>(a)</sup> | Delta Air Lines, Inc.<sup>(a)</sup> | Delta Air Lines, Inc.<sup>(a)</sup> | Delta Air Lines, Inc.<sup>(a)</sup> |
| 3455000 | 7.375 | 01/15/26 | 3484955 |
| Latam Airlines Group SA<sup>(a)(b)</sup> | Latam Airlines Group SA<sup>(a)(b)</sup> | Latam Airlines Group SA<sup>(a)(b)</sup> | Latam Airlines Group SA<sup>(a)(b)</sup> |
| 750000 | 7.875 | 04/15/30 | 774150 |
| OneSky Flight LLC<sup>(a)(b)</sup> | OneSky Flight LLC<sup>(a)(b)</sup> | OneSky Flight LLC<sup>(a)(b)</sup> | OneSky Flight LLC<sup>(a)(b)</sup> |
| 2400000 | 8.875 | 12/15/29 | 2529336 |
| United Airlines, Inc.<sup>(a)(b)</sup> | United Airlines, Inc.<sup>(a)(b)</sup> | United Airlines, Inc.<sup>(a)(b)</sup> | United Airlines, Inc.<sup>(a)(b)</sup> |
| 1995000 | 4.625 | 04/15/29 | 1947120 |
| VistaJet Malta Finance PLC/Vista Management Holding, Inc.<sup>(a)(b)</sup> | VistaJet Malta Finance PLC/Vista Management Holding, Inc.<sup>(a)(b)</sup> | VistaJet Malta Finance PLC/Vista Management Holding, Inc.<sup>(a)(b)</sup> | VistaJet Malta Finance PLC/Vista Management Holding, Inc.<sup>(a)(b)</sup> |
| 2294000 | 7.875 | 05/01/27 | 2301846 |
| 2392000 | 9.500 | 06/01/28 | 2457660 |
|  |  |  | 15141441 |
| **Apparel<sup>(a)(b)</sup>** – **0.3%** | **Apparel<sup>(a)(b)</sup>** – **0.3%** | **Apparel<sup>(a)(b)</sup>** – **0.3%** | **Apparel<sup>(a)(b)</sup>** – **0.3%** |
| Beach Acquisition Bidco LLC | Beach Acquisition Bidco LLC | Beach Acquisition Bidco LLC | Beach Acquisition Bidco LLC |
| 676000 | 5.250 | 07/15/32 | 784311 |
| (PIK 10.750%, Cash 10.000%) | (PIK 10.750%, Cash 10.000%) | (PIK 10.750%, Cash 10.000%) | (PIK 10.750%, Cash 10.000%) |
| 1860000 | 10.000 <sup>(c)</sup> | 07/15/33 | 1939478 |
| Champ Acquisition Corp. | Champ Acquisition Corp. | Champ Acquisition Corp. | Champ Acquisition Corp. |
| 3710000 | 8.375 | 12/01/31 | 3928111 |
|  |  |  | 6651900 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal**<br> **Amount** | **Interest**<br> **Rate** | **Maturity**<br> **Date** | **Value** |
| **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** |
| **Auto Parts & Equipment<sup>(a)</sup>** – **0.0%** | **Auto Parts & Equipment<sup>(a)</sup>** – **0.0%** | **Auto Parts & Equipment<sup>(a)</sup>** – **0.0%** | **Auto Parts & Equipment<sup>(a)</sup>** – **0.0%** |
| Tupy Overseas SA | Tupy Overseas SA | Tupy Overseas SA | Tupy Overseas SA |
| 200000 | 4.500% | 02/16/31 | $173002 |
| **Automotive<sup>(a)</sup>** – **1.1%** | **Automotive<sup>(a)</sup>** – **1.1%** | **Automotive<sup>(a)</sup>** – **1.1%** | **Automotive<sup>(a)</sup>** – **1.1%** |
| Adient Global Holdings Ltd.<sup>(b)</sup> | Adient Global Holdings Ltd.<sup>(b)</sup> | Adient Global Holdings Ltd.<sup>(b)</sup> | Adient Global Holdings Ltd.<sup>(b)</sup> |
| 1920000 | 7.000 | 04/15/28 | 1965466 |
| Clarios Global LP/Clarios U.S. Finance Co.<sup>(b)</sup> | Clarios Global LP/Clarios U.S. Finance Co.<sup>(b)</sup> | Clarios Global LP/Clarios U.S. Finance Co.<sup>(b)</sup> | Clarios Global LP/Clarios U.S. Finance Co.<sup>(b)</sup> |
| 1775000 | 8.500 | 05/15/27 | 1784692 |
| 2525000 | 6.750 | 02/15/30 | 2599134 |
| Dana, Inc. | Dana, Inc. | Dana, Inc. | Dana, Inc. |
| 1990000 | 4.250 | 09/01/30 | 1958299 |
| Dealer Tire LLC/DT Issuer LLC<sup>(b)</sup> | Dealer Tire LLC/DT Issuer LLC<sup>(b)</sup> | Dealer Tire LLC/DT Issuer LLC<sup>(b)</sup> | Dealer Tire LLC/DT Issuer LLC<sup>(b)</sup> |
| 4322000 | 8.000 | 02/01/28 | 4235560 |
| Ford Motor Credit Co. LLC | Ford Motor Credit Co. LLC | Ford Motor Credit Co. LLC | Ford Motor Credit Co. LLC |
| 210000 | 3.375 | 11/13/25 | 208790 |
| General Motors Financial Co., Inc. | General Motors Financial Co., Inc. | General Motors Financial Co., Inc. | General Motors Financial Co., Inc. |
| 1895000 | 5.650 | 01/17/29 | 1938301 |
| 3935000 | 3.100 | 01/12/32 | 3470946 |
| Hyundai Capital America<sup>(b)</sup> | Hyundai Capital America<sup>(b)</sup> | Hyundai Capital America<sup>(b)</sup> | Hyundai Capital America<sup>(b)</sup> |
| 3885000 | 5.700 | 06/26/30 | 4013671 |
| Phinia, Inc.<sup>(b)</sup> | Phinia, Inc.<sup>(b)</sup> | Phinia, Inc.<sup>(b)</sup> | Phinia, Inc.<sup>(b)</sup> |
| 4109000 | 6.750 | 04/15/29 | 4229229 |
| 895000 | 6.625 | 10/15/32 | 911459 |
|  |  |  | 27315547 |
| **Banks** – **4.8%** | **Banks** – **4.8%** | **Banks** – **4.8%** | **Banks** – **4.8%** |
| Absa Group Ltd.<sup>(a)(d)</sup> (5 yr. CMT + 5.411%) | Absa Group Ltd.<sup>(a)(d)</sup> (5 yr. CMT + 5.411%) | Absa Group Ltd.<sup>(a)(d)</sup> (5 yr. CMT + 5.411%) | Absa Group Ltd.<sup>(a)(d)</sup> (5 yr. CMT + 5.411%) |
| 200000 | 6.375 | 05/27/26 | 199000 |
| Access Bank PLC<sup>(b)</sup> | Access Bank PLC<sup>(b)</sup> | Access Bank PLC<sup>(b)</sup> | Access Bank PLC<sup>(b)</sup> |
| 900000 | 6.125 | 09/21/26 | 891801 |
| Akbank TAS<sup>(a)(d)</sup> (5 yr. CMT + 5.270%) | Akbank TAS<sup>(a)(d)</sup> (5 yr. CMT + 5.270%) | Akbank TAS<sup>(a)(d)</sup> (5 yr. CMT + 5.270%) | Akbank TAS<sup>(a)(d)</sup> (5 yr. CMT + 5.270%) |
| 490000 | 9.369 | 03/14/29 | 508375 |
| Alfa Bank AO Via Alfa Bond Issuance PLC<sup>(a)(d)(e)</sup> (5 yr. CMT + 4.546%) | Alfa Bank AO Via Alfa Bond Issuance PLC<sup>(a)(d)(e)</sup> (5 yr. CMT + 4.546%) | Alfa Bank AO Via Alfa Bond Issuance PLC<sup>(a)(d)(e)</sup> (5 yr. CMT + 4.546%) | Alfa Bank AO Via Alfa Bond Issuance PLC<sup>(a)(d)(e)</sup> (5 yr. CMT + 4.546%) |
| 360000 | 5.950 | 04/15/30 |  |
| Banca Transilvania SA<sup>(a)(d)</sup> (1 yr. EURIBOR ICE Swap + 5.580%) | Banca Transilvania SA<sup>(a)(d)</sup> (1 yr. EURIBOR ICE Swap + 5.580%) | Banca Transilvania SA<sup>(a)(d)</sup> (1 yr. EURIBOR ICE Swap + 5.580%) | Banca Transilvania SA<sup>(a)(d)</sup> (1 yr. EURIBOR ICE Swap + 5.580%) |
| 200000 | 8.875 | 04/27/27 | 236547 |
| Banco Continental SAECA<sup>(a)</sup>  | Banco Continental SAECA<sup>(a)</sup>  | Banco Continental SAECA<sup>(a)</sup>  | Banco Continental SAECA<sup>(a)</sup>  |
| 600000 | 2.750 | 12/10/25 | 593760 |
| Banco Davivienda SA<sup>(a)(b)(d)</sup> (10 yr. CMT + 5.097%) | Banco Davivienda SA<sup>(a)(b)(d)</sup> (10 yr. CMT + 5.097%) | Banco Davivienda SA<sup>(a)(b)(d)</sup> (10 yr. CMT + 5.097%) | Banco Davivienda SA<sup>(a)(b)(d)</sup> (10 yr. CMT + 5.097%) |
| 200000 | 6.650 | 04/22/31 | 177625 |
| Banco GNB Sudameris SA<sup>(a)(d)</sup> (5 yr. CMT + 6.660%) | Banco GNB Sudameris SA<sup>(a)(d)</sup> (5 yr. CMT + 6.660%) | Banco GNB Sudameris SA<sup>(a)(d)</sup> (5 yr. CMT + 6.660%) | Banco GNB Sudameris SA<sup>(a)(d)</sup> (5 yr. CMT + 6.660%) |
| 200000 | 7.500 | 04/16/31 | 198392 |
| Banco Industrial SA<sup>(a)(b)(d)</sup> (5 yr. CMT + 4.442%) | Banco Industrial SA<sup>(a)(b)(d)</sup> (5 yr. CMT + 4.442%) | Banco Industrial SA<sup>(a)(b)(d)</sup> (5 yr. CMT + 4.442%) | Banco Industrial SA<sup>(a)(b)(d)</sup> (5 yr. CMT + 4.442%) |
| 930000 | 4.875 | 01/29/31 | 927675 |
| Banco Mercantil del Norte SA<sup>(a)(d)</sup> (5 yr. CMT + 4.643%) | Banco Mercantil del Norte SA<sup>(a)(d)</sup> (5 yr. CMT + 4.643%) | Banco Mercantil del Norte SA<sup>(a)(d)</sup> (5 yr. CMT + 4.643%) | Banco Mercantil del Norte SA<sup>(a)(d)</sup> (5 yr. CMT + 4.643%) |
| 460000 | 5.875 | 01/24/27 | 450943 |
| Banco Santander SA | Banco Santander SA | Banco Santander SA | Banco Santander SA |
| 2000000 | 3.490 | 05/28/30 | 1895880 |
| (1 yr. CMT + 1.600%) | (1 yr. CMT + 1.600%) | (1 yr. CMT + 1.600%) | (1 yr. CMT + 1.600%) |
| 3400000 | 3.225 <sup>(a)(d)</sup> | 11/22/32 | 3039532 |
| Bancolombia SA<sup>(a)(d)</sup> (5 yr. CMT + 4.320%) | Bancolombia SA<sup>(a)(d)</sup> (5 yr. CMT + 4.320%) | Bancolombia SA<sup>(a)(d)</sup> (5 yr. CMT + 4.320%) | Bancolombia SA<sup>(a)(d)</sup> (5 yr. CMT + 4.320%) |
| 260000 | 8.625 | 12/24/34 | 275990 |

---

------

GOLDMAN SACHS INCOME BUILDER FUND

## Schedule of Investments (continued)
*July 31, 2025 (Unaudited)* 

---

| | | | |
|:---|:---|:---|:---|
| **Principal**<br> **Amount** | **Interest**<br> **Rate** | **Maturity**<br> **Date** | **Value** |
| **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** |
| **Banks** – **(continued)** | **Banks** – **(continued)** | **Banks** – **(continued)** | **Banks** – **(continued)** |
| Bank of America Corp.<sup>(a)(d)</sup>  | Bank of America Corp.<sup>(a)(d)</sup>  | Bank of America Corp.<sup>(a)(d)</sup>  | Bank of America Corp.<sup>(a)(d)</sup>  |
| (5 yr. CMT + 2.351%) | (5 yr. CMT + 2.351%) | (5 yr. CMT + 2.351%) | (5 yr. CMT + 2.351%) |
| 2000000 | 6.250% | 07/26/30 | $1997160 |
| (5 yr. CMT + 2.684%) | (5 yr. CMT + 2.684%) | (5 yr. CMT + 2.684%) | (5 yr. CMT + 2.684%) |
| 6000000 | 6.625 | 05/01/30 | 6160620 |
| Bank of New York Mellon Corp.<sup>(a)(d)</sup>  | Bank of New York Mellon Corp.<sup>(a)(d)</sup>  | Bank of New York Mellon Corp.<sup>(a)(d)</sup>  | Bank of New York Mellon Corp.<sup>(a)(d)</sup>  |
| (5 yr. CMT + 2.297%) | (5 yr. CMT + 2.297%) | (5 yr. CMT + 2.297%) | (5 yr. CMT + 2.297%) |
| 1720000 | 6.300 | 03/20/30 | 1765150 |
| (5 yr. CMT + 3.352%) | (5 yr. CMT + 3.352%) | (5 yr. CMT + 3.352%) | (5 yr. CMT + 3.352%) |
| 960000 | 3.700 | 03/20/26 | 948048 |
| (5 yr. CMT + 4.358%) | (5 yr. CMT + 4.358%) | (5 yr. CMT + 4.358%) | (5 yr. CMT + 4.358%) |
| 1920000 | 4.700 | 09/20/25 | 1916218 |
| Barclays PLC<sup>(a)(d)</sup>  | Barclays PLC<sup>(a)(d)</sup>  | Barclays PLC<sup>(a)(d)</sup>  | Barclays PLC<sup>(a)(d)</sup>  |
| (1 yr. CMT + 3.000%) | (1 yr. CMT + 3.000%) | (1 yr. CMT + 3.000%) | (1 yr. CMT + 3.000%) |
| 4610000 | 5.746 | 08/09/33 | 4776467 |
| (5 yr. CMT + 5.431%) | (5 yr. CMT + 5.431%) | (5 yr. CMT + 5.431%) | (5 yr. CMT + 5.431%) |
| 3573000 | 8.000 | 03/15/29 | 3785022 |
| BNP Paribas SA<sup>(a)(b)(d)</sup> (5 yr. CMT + 4.354%) | BNP Paribas SA<sup>(a)(b)(d)</sup> (5 yr. CMT + 4.354%) | BNP Paribas SA<sup>(a)(b)(d)</sup> (5 yr. CMT + 4.354%) | BNP Paribas SA<sup>(a)(b)(d)</sup> (5 yr. CMT + 4.354%) |
| 2800000 | 8.500 | 08/14/28 | 2985416 |
| BPCE SA<sup>(a)(b)(d)</sup> (Secured Overnight Financing Rate + 1.730%) | BPCE SA<sup>(a)(b)(d)</sup> (Secured Overnight Financing Rate + 1.730%) | BPCE SA<sup>(a)(b)(d)</sup> (Secured Overnight Financing Rate + 1.730%) | BPCE SA<sup>(a)(b)(d)</sup> (Secured Overnight Financing Rate + 1.730%) |
| 2100000 | 3.116 | 10/19/32 | 1830255 |
| Citigroup, Inc.<sup>(a)(d)</sup>  | Citigroup, Inc.<sup>(a)(d)</sup>  | Citigroup, Inc.<sup>(a)(d)</sup>  | Citigroup, Inc.<sup>(a)(d)</sup>  |
| (10 yr. CMT + 2.757%) | (10 yr. CMT + 2.757%) | (10 yr. CMT + 2.757%) | (10 yr. CMT + 2.757%) |
| 2110000 | 7.000 | 08/15/34 | 2194020 |
| (3 mo. USD Term SOFR + 4.779%) | (3 mo. USD Term SOFR + 4.779%) | (3 mo. USD Term SOFR + 4.779%) | (3 mo. USD Term SOFR + 4.779%) |
| 1815000 | 6.250 | 08/15/26 | 1826525 |
| (5 yr. CMT + 2.890%) | (5 yr. CMT + 2.890%) | (5 yr. CMT + 2.890%) | (5 yr. CMT + 2.890%) |
| 2000000 | 6.875 | 08/15/30 | 2021160 |
| (5 yr. CMT + 3.209%) | (5 yr. CMT + 3.209%) | (5 yr. CMT + 3.209%) | (5 yr. CMT + 3.209%) |
| 2880000 | 7.375 | 05/15/28 | 2993472 |
| (5 yr. CMT + 3.211%) | (5 yr. CMT + 3.211%) | (5 yr. CMT + 3.211%) | (5 yr. CMT + 3.211%) |
| 2062000 | 7.625 | 11/15/28 | 2152975 |
| (5 yr. CMT + 3.597%) | (5 yr. CMT + 3.597%) | (5 yr. CMT + 3.597%) | (5 yr. CMT + 3.597%) |
| 960000 | 4.000 | 12/10/25 | 953280 |
| (Secured Overnight Financing Rate + 1.351%) | (Secured Overnight Financing Rate + 1.351%) | (Secured Overnight Financing Rate + 1.351%) | (Secured Overnight Financing Rate + 1.351%) |
| 3190000 | 3.057 | 01/25/33 | 2855528 |
| (Secured Overnight Financing Rate + 3.914%) | (Secured Overnight Financing Rate + 3.914%) | (Secured Overnight Financing Rate + 3.914%) | (Secured Overnight Financing Rate + 3.914%) |
| 865000 | 4.412 | 03/31/31 | 854966 |
| Citizens Financial Group, Inc.<sup>(a)(d)</sup> (5 yr. CMT + 5.313%) | Citizens Financial Group, Inc.<sup>(a)(d)</sup> (5 yr. CMT + 5.313%) | Citizens Financial Group, Inc.<sup>(a)(d)</sup> (5 yr. CMT + 5.313%) | Citizens Financial Group, Inc.<sup>(a)(d)</sup> (5 yr. CMT + 5.313%) |
| 960000 | 5.650 | 10/06/25 | 959875 |
| Commerzbank AG<sup>(a)(d)</sup> (5 yr. USD SOFR ICE Swap + 4.322%) | Commerzbank AG<sup>(a)(d)</sup> (5 yr. USD SOFR ICE Swap + 4.322%) | Commerzbank AG<sup>(a)(d)</sup> (5 yr. USD SOFR ICE Swap + 4.322%) | Commerzbank AG<sup>(a)(d)</sup> (5 yr. USD SOFR ICE Swap + 4.322%) |
| 2400000 | 7.500 | 10/09/30 | 2480544 |
| Credit Bank of Moscow Via CBOM Finance PLC<sup>(e)</sup> | Credit Bank of Moscow Via CBOM Finance PLC<sup>(e)</sup> | Credit Bank of Moscow Via CBOM Finance PLC<sup>(e)</sup> | Credit Bank of Moscow Via CBOM Finance PLC<sup>(e)</sup> |
| 260000 | 4.700 <sup>(b)</sup> | 01/29/25 |  |
| (5 yr. USD Swap + 5.416%) | (5 yr. USD Swap + 5.416%) | (5 yr. USD Swap + 5.416%) | (5 yr. USD Swap + 5.416%) |
| 280000 | 7.500 <sup>(a)(d)</sup> | 10/05/27 |  |
| Deutsche Bank AG<sup>(a)(d)</sup> (5 yr. CMT + 4.524%) | Deutsche Bank AG<sup>(a)(d)</sup> (5 yr. CMT + 4.524%) | Deutsche Bank AG<sup>(a)(d)</sup> (5 yr. CMT + 4.524%) | Deutsche Bank AG<sup>(a)(d)</sup> (5 yr. CMT + 4.524%) |
| 800000 | 6.000 | 10/30/25 | 798744 |
| Fifth Third Bancorp<sup>(a)(d)</sup> (5 yr. CMT + 4.215%) | Fifth Third Bancorp<sup>(a)(d)</sup> (5 yr. CMT + 4.215%) | Fifth Third Bancorp<sup>(a)(d)</sup> (5 yr. CMT + 4.215%) | Fifth Third Bancorp<sup>(a)(d)</sup> (5 yr. CMT + 4.215%) |
| 960000 | 4.500 | 09/30/25 | 957494 |
| Freedom Mortgage Corp.<sup>(a)(b)</sup> | Freedom Mortgage Corp.<sup>(a)(b)</sup> | Freedom Mortgage Corp.<sup>(a)(b)</sup> | Freedom Mortgage Corp.<sup>(a)(b)</sup> |
| 2505000 | 6.625 | 01/15/27 | 2506002 |
| Grupo Aval Ltd.<sup>(a)</sup> | Grupo Aval Ltd.<sup>(a)</sup> | Grupo Aval Ltd.<sup>(a)</sup> | Grupo Aval Ltd.<sup>(a)</sup> |
| 200000 | 4.375 | 02/04/30 | 183400 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal**<br> **Amount** | **Interest**<br> **Rate** | **Maturity**<br> **Date** | **Value** |
| **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** |
| **Banks** – **(continued)** | **Banks** – **(continued)** | **Banks** – **(continued)** | **Banks** – **(continued)** |
| Huntington Bancshares, Inc.<sup>(a)(d)</sup> (7 yr. CMT + 4.045%) | Huntington Bancshares, Inc.<sup>(a)(d)</sup> (7 yr. CMT + 4.045%) | Huntington Bancshares, Inc.<sup>(a)(d)</sup> (7 yr. CMT + 4.045%) | Huntington Bancshares, Inc.<sup>(a)(d)</sup> (7 yr. CMT + 4.045%) |
| 960000 | 4.450% | 10/15/27 | $943766 |
| Ipoteka-Bank ATIB | Ipoteka-Bank ATIB | Ipoteka-Bank ATIB | Ipoteka-Bank ATIB |
| 710000 | 5.500 | 11/19/25 | 706450 |
| JPMorgan Chase & Co.<sup>(a)(d)</sup>  | JPMorgan Chase & Co.<sup>(a)(d)</sup>  | JPMorgan Chase & Co.<sup>(a)(d)</sup>  | JPMorgan Chase & Co.<sup>(a)(d)</sup>  |
| (3 mo. USD Term SOFR + 2.515%) | (3 mo. USD Term SOFR + 2.515%) | (3 mo. USD Term SOFR + 2.515%) | (3 mo. USD Term SOFR + 2.515%) |
| 2556000 | 2.956 | 05/13/31 | 2365731 |
| (5 yr. CMT + 2.152%) | (5 yr. CMT + 2.152%) | (5 yr. CMT + 2.152%) | (5 yr. CMT + 2.152%) |
| 2435000 | 6.500 | 04/01/30 | 2499430 |
| (5 yr. CMT + 2.737%) | (5 yr. CMT + 2.737%) | (5 yr. CMT + 2.737%) | (5 yr. CMT + 2.737%) |
| 3592000 | 6.875 | 06/01/29 | 3762189 |
| Morgan Stanley<sup>(a)(d)</sup> (Secured Overnight Financing Rate + 1.290%) | Morgan Stanley<sup>(a)(d)</sup> (Secured Overnight Financing Rate + 1.290%) | Morgan Stanley<sup>(a)(d)</sup> (Secured Overnight Financing Rate + 1.290%) | Morgan Stanley<sup>(a)(d)</sup> (Secured Overnight Financing Rate + 1.290%) |
| 1870000 | 2.943 | 01/21/33 | 1670321 |
| NatWest Group PLC<sup>(a)(d)</sup> (5 yr. CMT + 3.752%) | NatWest Group PLC<sup>(a)(d)</sup> (5 yr. CMT + 3.752%) | NatWest Group PLC<sup>(a)(d)</sup> (5 yr. CMT + 3.752%) | NatWest Group PLC<sup>(a)(d)</sup> (5 yr. CMT + 3.752%) |
| 2000000 | 8.125 | 11/10/33 | 2188360 |
| NBK Tier 1 Ltd.<sup>(a)(b)(d)</sup> (6 yr. CMT + 2.403%) | NBK Tier 1 Ltd.<sup>(a)(b)(d)</sup> (6 yr. CMT + 2.403%) | NBK Tier 1 Ltd.<sup>(a)(b)(d)</sup> (6 yr. CMT + 2.403%) | NBK Tier 1 Ltd.<sup>(a)(b)(d)</sup> (6 yr. CMT + 2.403%) |
| 520000 | 6.375 | 01/10/31 | 527842 |
| PNC Financial Services Group, Inc.<sup>(a)(d)</sup>  | PNC Financial Services Group, Inc.<sup>(a)(d)</sup>  | PNC Financial Services Group, Inc.<sup>(a)(d)</sup>  | PNC Financial Services Group, Inc.<sup>(a)(d)</sup>  |
| (5 yr. CMT + 3.000%) | (5 yr. CMT + 3.000%) | (5 yr. CMT + 3.000%) | (5 yr. CMT + 3.000%) |
| 1920000 | 6.000 | 05/15/27 | 1924627 |
| (5 yr. CMT + 3.238%) | (5 yr. CMT + 3.238%) | (5 yr. CMT + 3.238%) | (5 yr. CMT + 3.238%) |
| 2880000 | 6.200 | 09/15/27 | 2917382 |
| (7 yr. CMT + 2.808%) | (7 yr. CMT + 2.808%) | (7 yr. CMT + 2.808%) | (7 yr. CMT + 2.808%) |
| 1920000 | 6.250 | 03/15/30 | 1949434 |
| Royal Bank of Canada<sup>(a)(d)</sup> (5 yr. CMT + 2.887%) | Royal Bank of Canada<sup>(a)(d)</sup> (5 yr. CMT + 2.887%) | Royal Bank of Canada<sup>(a)(d)</sup> (5 yr. CMT + 2.887%) | Royal Bank of Canada<sup>(a)(d)</sup> (5 yr. CMT + 2.887%) |
| 3115000 | 7.500 | 05/02/84 | 3245705 |
| Standard Chartered PLC<sup>(a)(b)(d)</sup> (5 yr. CMT + 3.805%) | Standard Chartered PLC<sup>(a)(b)(d)</sup> (5 yr. CMT + 3.805%) | Standard Chartered PLC<sup>(a)(b)(d)</sup> (5 yr. CMT + 3.805%) | Standard Chartered PLC<sup>(a)(b)(d)</sup> (5 yr. CMT + 3.805%) |
| 4055000 | 4.750 | 01/14/31 | 3727194 |
| State Street Corp.<sup>(a)(d)</sup>  | State Street Corp.<sup>(a)(d)</sup>  | State Street Corp.<sup>(a)(d)</sup>  | State Street Corp.<sup>(a)(d)</sup>  |
| (5 yr. CMT + 2.135%) | (5 yr. CMT + 2.135%) | (5 yr. CMT + 2.135%) | (5 yr. CMT + 2.135%) |
| 1950000 | 6.450 | 09/15/30 | 1983677 |
| (5 yr. CMT + 2.628%) | (5 yr. CMT + 2.628%) | (5 yr. CMT + 2.628%) | (5 yr. CMT + 2.628%) |
| 1920000 | 6.700 | 09/15/29 | 1997357 |
| Toronto-Dominion Bank<sup>(a)(d)</sup> (5 yr. CMT + 4.075%) | Toronto-Dominion Bank<sup>(a)(d)</sup> (5 yr. CMT + 4.075%) | Toronto-Dominion Bank<sup>(a)(d)</sup> (5 yr. CMT + 4.075%) | Toronto-Dominion Bank<sup>(a)(d)</sup> (5 yr. CMT + 4.075%) |
| 2000000 | 8.125 | 10/31/82 | 2104300 |
| Truist Financial Corp.<sup>(a)(d)</sup> | Truist Financial Corp.<sup>(a)(d)</sup> | Truist Financial Corp.<sup>(a)(d)</sup> | Truist Financial Corp.<sup>(a)(d)</sup> |
| (10 yr. CMT + 4.349%) | (10 yr. CMT + 4.349%) | (10 yr. CMT + 4.349%) | (10 yr. CMT + 4.349%) |
| 2147000 | 5.100 | 03/01/30 | 2116470 |
| (5 yr. CMT + 4.605%) | (5 yr. CMT + 4.605%) | (5 yr. CMT + 4.605%) | (5 yr. CMT + 4.605%) |
| 960000 | 4.950 | 09/01/25 | 958147 |
| Turkiye Garanti Bankasi AS<sup>(a)(b)(d)</sup> (5 yr. CMT + 4.090%) | Turkiye Garanti Bankasi AS<sup>(a)(b)(d)</sup> (5 yr. CMT + 4.090%) | Turkiye Garanti Bankasi AS<sup>(a)(b)(d)</sup> (5 yr. CMT + 4.090%) | Turkiye Garanti Bankasi AS<sup>(a)(b)(d)</sup> (5 yr. CMT + 4.090%) |
| 200000 | 8.375 | 02/28/34 | 205214 |
| U.S. Bancorp<sup>(a)(d)</sup>  | U.S. Bancorp<sup>(a)(d)</sup>  | U.S. Bancorp<sup>(a)(d)</sup>  | U.S. Bancorp<sup>(a)(d)</sup>  |
| (3 mo. USD Term SOFR + 3.176%) | (3 mo. USD Term SOFR + 3.176%) | (3 mo. USD Term SOFR + 3.176%) | (3 mo. USD Term SOFR + 3.176%) |
| 1000000 | 5.300 | 04/15/27 | 996280 |
| (5 yr. CMT + 2.541%) | (5 yr. CMT + 2.541%) | (5 yr. CMT + 2.541%) | (5 yr. CMT + 2.541%) |
| 960000 | 3.700 | 01/15/27 | 924835 |
| UBS Group AG<sup>(a)(d)</sup>  | UBS Group AG<sup>(a)(d)</sup>  | UBS Group AG<sup>(a)(d)</sup>  | UBS Group AG<sup>(a)(d)</sup>  |
| (5 yr. CMT + 4.745%) | (5 yr. CMT + 4.745%) | (5 yr. CMT + 4.745%) | (5 yr. CMT + 4.745%) |
| 5365000 | 9.250 <sup>(b)</sup> | 11/13/28 | 5889965 |
| (5 yr. USD SOFR ICE Swap + 3.179%) | (5 yr. USD SOFR ICE Swap + 3.179%) | (5 yr. USD SOFR ICE Swap + 3.179%) | (5 yr. USD SOFR ICE Swap + 3.179%) |
| 3105000 | 7.125 <sup>(b)</sup> | 08/10/34 | 3141825 |
| (5 yr. USD Swap + 4.590%) | (5 yr. USD Swap + 4.590%) | (5 yr. USD Swap + 4.590%) | (5 yr. USD Swap + 4.590%) |
| 3800000 | 6.875 | 08/07/25 | 3800000 |

---

------

GOLDMAN SACHS INCOME BUILDER FUND

*July 31, 2025 (Unaudited)* 

---

| | | | |
|:---|:---|:---|:---|
| **Principal**<br> **Amount** | **Interest**<br> **Rate** | **Maturity**<br> **Date** | **Value** |
| **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** |
| **Banks** – **(continued)** | **Banks** – **(continued)** | **Banks** – **(continued)** | **Banks** – **(continued)** |
| UBS GROUP AG<sup>(a)(d)</sup>  | UBS GROUP AG<sup>(a)(d)</sup>  | UBS GROUP AG<sup>(a)(d)</sup>  | UBS GROUP AG<sup>(a)(d)</sup>  |
| (5 yr. USD SOFR ICE Swap + 3.122%) | (5 yr. USD SOFR ICE Swap + 3.122%) | (5 yr. USD SOFR ICE Swap + 3.122%) | (5 yr. USD SOFR ICE Swap + 3.122%) |
| 2123000 | 7.000% | 12/31/99 | $2123000 |
| (5 yr. USD SOFR ICE Swap + 3.296%) | (5 yr. USD SOFR ICE Swap + 3.296%) | (5 yr. USD SOFR ICE Swap + 3.296%) | (5 yr. USD SOFR ICE Swap + 3.296%) |
| 1139000 | 7.000 | 12/31/99 | 1139000 |
| UniCredit SpA<sup>(a)(b)(d)</sup> (5 yr. CMT + 4.750%) | UniCredit SpA<sup>(a)(b)(d)</sup> (5 yr. CMT + 4.750%) | UniCredit SpA<sup>(a)(b)(d)</sup> (5 yr. CMT + 4.750%) | UniCredit SpA<sup>(a)(b)(d)</sup> (5 yr. CMT + 4.750%) |
| 1525000 | 5.459 | 06/30/35 | 1515027 |
| Uzbek Industrial & Construction Bank ATB<sup>(b)</sup> | Uzbek Industrial & Construction Bank ATB<sup>(b)</sup> | Uzbek Industrial & Construction Bank ATB<sup>(b)</sup> | Uzbek Industrial & Construction Bank ATB<sup>(b)</sup> |
| 970000 | 8.950 | 07/24/29 | 1026163 |
| Walker & Dunlop, Inc.<sup>(a)(b)</sup> | Walker & Dunlop, Inc.<sup>(a)(b)</sup> | Walker & Dunlop, Inc.<sup>(a)(b)</sup> | Walker & Dunlop, Inc.<sup>(a)(b)</sup> |
| 1075000 | 6.625 | 04/01/33 | 1096382 |
| Wells Fargo & Co.<sup>(a)(d)</sup>  | Wells Fargo & Co.<sup>(a)(d)</sup>  | Wells Fargo & Co.<sup>(a)(d)</sup>  | Wells Fargo & Co.<sup>(a)(d)</sup>  |
| (5 yr. CMT + 2.767%) | (5 yr. CMT + 2.767%) | (5 yr. CMT + 2.767%) | (5 yr. CMT + 2.767%) |
| 2185000 | 6.850 | 09/15/29 | 2258613 |
| (5 yr. CMT + 3.453%) | (5 yr. CMT + 3.453%) | (5 yr. CMT + 3.453%) | (5 yr. CMT + 3.453%) |
| 960000 | 3.900 | 03/15/26 | 950102 |
| (5 yr. CMT + 3.606%) | (5 yr. CMT + 3.606%) | (5 yr. CMT + 3.606%) | (5 yr. CMT + 3.606%) |
| 960000 | 7.625 | 09/15/28 | 1024829 |
| Yapi ve Kredi Bankasi AS<sup>(a)(b)(d)</sup>  | Yapi ve Kredi Bankasi AS<sup>(a)(b)(d)</sup>  | Yapi ve Kredi Bankasi AS<sup>(a)(b)(d)</sup>  | Yapi ve Kredi Bankasi AS<sup>(a)(b)(d)</sup>  |
| (5 yr. CMT + 5.278%) | (5 yr. CMT + 5.278%) | (5 yr. CMT + 5.278%) | (5 yr. CMT + 5.278%) |
| 450000 | 9.250 | 01/17/34 | 472244 |
| (5 yr. CMT + 5.499%) | (5 yr. CMT + 5.499%) | (5 yr. CMT + 5.499%) | (5 yr. CMT + 5.499%) |
| 470000 | 9.743 | 04/04/29 | 492766 |
|  |  |  | 123942488 |
| **Beverages<sup>(a)</sup>** – **0.3%** | **Beverages<sup>(a)</sup>** – **0.3%** | **Beverages<sup>(a)</sup>** – **0.3%** | **Beverages<sup>(a)</sup>** – **0.3%** |
| Anadolu Efes Biracilik Ve Malt Sanayii AS<sup>(b)</sup> | Anadolu Efes Biracilik Ve Malt Sanayii AS<sup>(b)</sup> | Anadolu Efes Biracilik Ve Malt Sanayii AS<sup>(b)</sup> | Anadolu Efes Biracilik Ve Malt Sanayii AS<sup>(b)</sup> |
| 220000 | 3.375 | 06/29/28 | 199100 |
| Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc. | Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc. | Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc. | Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc. |
| 4549000 | 4.700 | 02/01/36 | 4414395 |
| Becle SAB de CV | Becle SAB de CV | Becle SAB de CV | Becle SAB de CV |
| 200000 | 2.500 | 10/14/31 | 166600 |
| Central American Bottling Corp./CBC Bottling Holdco SL/Beliv Holdco SL<sup>(b)</sup> | Central American Bottling Corp./CBC Bottling Holdco SL/Beliv Holdco SL<sup>(b)</sup> | Central American Bottling Corp./CBC Bottling Holdco SL/Beliv Holdco SL<sup>(b)</sup> | Central American Bottling Corp./CBC Bottling Holdco SL/Beliv Holdco SL<sup>(b)</sup> |
| 200000 | 5.250 | 04/27/29 | 193558 |
| Constellation Brands, Inc. | Constellation Brands, Inc. | Constellation Brands, Inc. | Constellation Brands, Inc. |
| 3815000 | 2.250 | 08/01/31 | 3305889 |
| Keurig Dr. Pepper, Inc. | Keurig Dr. Pepper, Inc. | Keurig Dr. Pepper, Inc. | Keurig Dr. Pepper, Inc. |
| 298000 | 3.800 | 05/01/50 | 217957 |
|  |  |  | 8497499 |
| **Building Materials<sup>(a)</sup>** – **0.8%** | **Building Materials<sup>(a)</sup>** – **0.8%** | **Building Materials<sup>(a)</sup>** – **0.8%** | **Building Materials<sup>(a)</sup>** – **0.8%** |
| Builders FirstSource, Inc.<sup>(b)</sup> | Builders FirstSource, Inc.<sup>(b)</sup> | Builders FirstSource, Inc.<sup>(b)</sup> | Builders FirstSource, Inc.<sup>(b)</sup> |
| 1725000 | 5.000 | 03/01/30 | 1690103 |
| Cemex SAB de CV<sup>(b)(d)</sup> (5 yr. CMT + 3.520%) | Cemex SAB de CV<sup>(b)(d)</sup> (5 yr. CMT + 3.520%) | Cemex SAB de CV<sup>(b)(d)</sup> (5 yr. CMT + 3.520%) | Cemex SAB de CV<sup>(b)(d)</sup> (5 yr. CMT + 3.520%) |
| 200000 | 7.200 | 06/10/30 | 203900 |
| JH North America Holdings, Inc.<sup>(b)</sup> | JH North America Holdings, Inc.<sup>(b)</sup> | JH North America Holdings, Inc.<sup>(b)</sup> | JH North America Holdings, Inc.<sup>(b)</sup> |
| 890000 | 5.875 | 01/31/31 | 893898 |
| 890000 | 6.125 | 07/31/32 | 900075 |
| Limak Cimento Sanayi ve Ticaret AS | Limak Cimento Sanayi ve Ticaret AS | Limak Cimento Sanayi ve Ticaret AS | Limak Cimento Sanayi ve Ticaret AS |
| 990000 | 9.750 | 07/25/29 | 1013819 |
| Quikrete Holdings, Inc.<sup>(b)</sup> | Quikrete Holdings, Inc.<sup>(b)</sup> | Quikrete Holdings, Inc.<sup>(b)</sup> | Quikrete Holdings, Inc.<sup>(b)</sup> |
| 1605000 | 6.375 | 03/01/32 | 1647244 |
| 1745000 | 6.750 | 03/01/33 | 1790038 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal**<br> **Amount** | **Interest**<br> **Rate** | **Maturity**<br> **Date** | **Value** |
| **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** |
| **Building Materials<sup>(a)</sup>** – **(continued)** | **Building Materials<sup>(a)</sup>** – **(continued)** | **Building Materials<sup>(a)</sup>** – **(continued)** | **Building Materials<sup>(a)</sup>** – **(continued)** |
| Smyrna Ready Mix Concrete LLC<sup>(b)</sup>  | Smyrna Ready Mix Concrete LLC<sup>(b)</sup>  | Smyrna Ready Mix Concrete LLC<sup>(b)</sup>  | Smyrna Ready Mix Concrete LLC<sup>(b)</sup>  |
| 4253000 | 8.875% | 11/15/31 | $4477729 |
| Standard Building Solutions, Inc.<sup>(b)</sup> | Standard Building Solutions, Inc.<sup>(b)</sup> | Standard Building Solutions, Inc.<sup>(b)</sup> | Standard Building Solutions, Inc.<sup>(b)</sup> |
| 2615000 | 6.500 | 08/15/32 | 2670569 |
| Standard Industries, Inc.<sup>(b)</sup> | Standard Industries, Inc.<sup>(b)</sup> | Standard Industries, Inc.<sup>(b)</sup> | Standard Industries, Inc.<sup>(b)</sup> |
| 1805000 | 4.375 | 07/15/30 | 1709010 |
| 3889000 | 3.375 | 01/15/31 | 3475288 |
|  |  |  | 20471673 |
| **Chemicals<sup>(a)</sup>** – **1.4%** |  |  |  |
| Ashland, Inc.<sup>(b)</sup> | Ashland, Inc.<sup>(b)</sup> | Ashland, Inc.<sup>(b)</sup> | Ashland, Inc.<sup>(b)</sup> |
| 3095000 | 3.375 | 09/01/31 | 2720443 |
| Avient Corp.<sup>(b)</sup> | Avient Corp.<sup>(b)</sup> | Avient Corp.<sup>(b)</sup> | Avient Corp.<sup>(b)</sup> |
| 1655000 | 7.125 | 08/01/30 | 1697169 |
| Axalta Coating Systems LLC<sup>(b)</sup> | Axalta Coating Systems LLC<sup>(b)</sup> | Axalta Coating Systems LLC<sup>(b)</sup> | Axalta Coating Systems LLC<sup>(b)</sup> |
| 2950000 | 3.375 | 02/15/29 | 2763619 |
| Braskem Netherlands Finance BV | Braskem Netherlands Finance BV | Braskem Netherlands Finance BV | Braskem Netherlands Finance BV |
| 200000 | 4.500 | 01/10/28 | 153000 |
| Celanese U.S. Holdings LLC | Celanese U.S. Holdings LLC | Celanese U.S. Holdings LLC | Celanese U.S. Holdings LLC |
| 1580000 | 6.500 | 04/15/30 | 1598628 |
| 2250000 | 6.750 | 04/15/33 | 2270183 |
| Chemours Co.<sup>(b)</sup> | Chemours Co.<sup>(b)</sup> | Chemours Co.<sup>(b)</sup> | Chemours Co.<sup>(b)</sup> |
| 4375000 | 4.625 | 11/15/29 | 3707419 |
| 530000 | 8.000 | 01/15/33 | 493091 |
| FMC Corp.<sup>(d)</sup> (5 yr. CMT + 4.366%) | FMC Corp.<sup>(d)</sup> (5 yr. CMT + 4.366%) | FMC Corp.<sup>(d)</sup> (5 yr. CMT + 4.366%) | FMC Corp.<sup>(d)</sup> (5 yr. CMT + 4.366%) |
| 1365000 | 8.450 | 11/01/55 | 1411041 |
| Huntsman International LLC | Huntsman International LLC | Huntsman International LLC | Huntsman International LLC |
| 2019000 | 4.500 | 05/01/29 | 1919524 |
| Ingevity Corp.<sup>(b)</sup> | Ingevity Corp.<sup>(b)</sup> | Ingevity Corp.<sup>(b)</sup> | Ingevity Corp.<sup>(b)</sup> |
| 1250000 | 3.875 | 11/01/28 | 1187750 |
| Inversion Escrow Issuer LLC<sup>(b)</sup> | Inversion Escrow Issuer LLC<sup>(b)</sup> | Inversion Escrow Issuer LLC<sup>(b)</sup> | Inversion Escrow Issuer LLC<sup>(b)</sup> |
| 2391000 | 6.750 | 08/01/32 | 2361830 |
| Methanex U.S. Operations, Inc.<sup>(b)</sup> | Methanex U.S. Operations, Inc.<sup>(b)</sup> | Methanex U.S. Operations, Inc.<sup>(b)</sup> | Methanex U.S. Operations, Inc.<sup>(b)</sup> |
| 1200000 | 6.250 | 03/15/32 | 1189356 |
| Minerals Technologies, Inc.<sup>(b)</sup> | Minerals Technologies, Inc.<sup>(b)</sup> | Minerals Technologies, Inc.<sup>(b)</sup> | Minerals Technologies, Inc.<sup>(b)</sup> |
| 1625000 | 5.000 | 07/01/28 | 1600755 |
| OCP SA | OCP SA | OCP SA | OCP SA |
| 960000 | 5.125 | 06/23/51 | 735667 |
| Olympus Water U.S. Holding Corp.<sup>(b)</sup> | Olympus Water U.S. Holding Corp.<sup>(b)</sup> | Olympus Water U.S. Holding Corp.<sup>(b)</sup> | Olympus Water U.S. Holding Corp.<sup>(b)</sup> |
| 2300000 | 9.750 | 11/15/28 | 2412217 |
| 1925000 | 7.250 | 06/15/31 | 1967716 |
| Orbia Advance Corp. SAB de CV<sup>(b)</sup> | Orbia Advance Corp. SAB de CV<sup>(b)</sup> | Orbia Advance Corp. SAB de CV<sup>(b)</sup> | Orbia Advance Corp. SAB de CV<sup>(b)</sup> |
| 240000 | 6.800 | 05/13/30 | 245443 |
| Sasol Financing USA LLC | Sasol Financing USA LLC | Sasol Financing USA LLC | Sasol Financing USA LLC |
| 890000 | 5.500 | 03/18/31 | 738211 |
| SNF Group SACA<sup>(b)</sup> | SNF Group SACA<sup>(b)</sup> | SNF Group SACA<sup>(b)</sup> | SNF Group SACA<sup>(b)</sup> |
| 740000 | 3.125 | 03/15/27 | 713952 |
| 925000 | 3.375 | 03/15/30 | 850066 |
| Valvoline, Inc.<sup>(b)</sup> | Valvoline, Inc.<sup>(b)</sup> | Valvoline, Inc.<sup>(b)</sup> | Valvoline, Inc.<sup>(b)</sup> |
| 850000 | 3.625 | 06/15/31 | 765255 |
| WR Grace Holdings LLC<sup>(b)</sup> | WR Grace Holdings LLC<sup>(b)</sup> | WR Grace Holdings LLC<sup>(b)</sup> | WR Grace Holdings LLC<sup>(b)</sup> |
| 1780000 | 5.625 | 08/15/29 | 1642815 |
|  |  |  | 35145150 |

---

------

GOLDMAN SACHS INCOME BUILDER FUND

*July 31, 2025 (Unaudited)* 

---

| | | | |
|:---|:---|:---|:---|
| **Principal**<br> **Amount** | **Interest**<br> **Rate** | **Maturity**<br> **Date** | **Value** |
| **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** |
| **Coal<sup>(a)(b)</sup>** – **0.0%** | **Coal<sup>(a)(b)</sup>** – **0.0%** | **Coal<sup>(a)(b)</sup>** – **0.0%** | **Coal<sup>(a)(b)</sup>** – **0.0%** |
| Mongolian Mining Corp. | Mongolian Mining Corp. | Mongolian Mining Corp. | Mongolian Mining Corp. |
| 330000 | 8.440% | 04/03/30 | $317295 |
| **Commercial Services<sup>(a)</sup>** – **1.5%** | **Commercial Services<sup>(a)</sup>** – **1.5%** | **Commercial Services<sup>(a)</sup>** – **1.5%** | **Commercial Services<sup>(a)</sup>** – **1.5%** |
| ADT Security Corp.<sup>(b)</sup> | ADT Security Corp.<sup>(b)</sup> | ADT Security Corp.<sup>(b)</sup> | ADT Security Corp.<sup>(b)</sup> |
| 4207000 | 4.125 | 08/01/29 | 4026982 |
| APi Group DE, Inc.<sup>(b)</sup> | APi Group DE, Inc.<sup>(b)</sup> | APi Group DE, Inc.<sup>(b)</sup> | APi Group DE, Inc.<sup>(b)</sup> |
| 3865000 | 4.125 | 07/15/29 | 3686669 |
| 550000 | 4.750 | 10/15/29 | 532130 |
| Avis Budget Car Rental LLC/Avis Budget Finance, Inc.<sup>(b)</sup> | Avis Budget Car Rental LLC/Avis Budget Finance, Inc.<sup>(b)</sup> | Avis Budget Car Rental LLC/Avis Budget Finance, Inc.<sup>(b)</sup> | Avis Budget Car Rental LLC/Avis Budget Finance, Inc.<sup>(b)</sup> |
| 910000 | 8.375 | 06/15/32 | 938583 |
| Belron U.K. Finance PLC<sup>(b)</sup> | Belron U.K. Finance PLC<sup>(b)</sup> | Belron U.K. Finance PLC<sup>(b)</sup> | Belron U.K. Finance PLC<sup>(b)</sup> |
| 1321000 | 5.750 | 10/15/29 | 1333615 |
| Bidvest Group U.K. PLC | Bidvest Group U.K. PLC | Bidvest Group U.K. PLC | Bidvest Group U.K. PLC |
| 515000 | 3.625 <sup>(b)</sup> | 09/23/26 | 506147 |
| 260000 | 3.625 | 09/23/26 | 255531 |
| Garda World Security Corp.<sup>(b)</sup> | Garda World Security Corp.<sup>(b)</sup> | Garda World Security Corp.<sup>(b)</sup> | Garda World Security Corp.<sup>(b)</sup> |
| 1732000 | 7.750 | 02/15/28 | 1783250 |
| 1000000 | 8.250 | 08/01/32 | 1031120 |
| 715000 | 8.375 | 11/15/32 | 736657 |
| HealthEquity, Inc.<sup>(b)</sup> | HealthEquity, Inc.<sup>(b)</sup> | HealthEquity, Inc.<sup>(b)</sup> | HealthEquity, Inc.<sup>(b)</sup> |
| 1013000 | 4.500 | 10/01/29 | 976421 |
| Herc Holdings, Inc.<sup>(b)</sup> | Herc Holdings, Inc.<sup>(b)</sup> | Herc Holdings, Inc.<sup>(b)</sup> | Herc Holdings, Inc.<sup>(b)</sup> |
| 1570000 | 7.000 | 06/15/30 | 1621151 |
| Hertz Corp.<sup>(b)</sup> | Hertz Corp.<sup>(b)</sup> | Hertz Corp.<sup>(b)</sup> | Hertz Corp.<sup>(b)</sup> |
| 1325000 | 12.625 | 07/15/29 | 1384996 |
| Limak Iskenderun Uluslararasi Liman Isletmeciligi AS | Limak Iskenderun Uluslararasi Liman Isletmeciligi AS | Limak Iskenderun Uluslararasi Liman Isletmeciligi AS | Limak Iskenderun Uluslararasi Liman Isletmeciligi AS |
| 875081 | 9.500 <sup>(b)</sup> | 07/10/36 | 875353 |
| 194463 | 9.500 | 07/10/36 | 194523 |
| Mavis Tire Express Services Topco Corp.<sup>(b)</sup> | Mavis Tire Express Services Topco Corp.<sup>(b)</sup> | Mavis Tire Express Services Topco Corp.<sup>(b)</sup> | Mavis Tire Express Services Topco Corp.<sup>(b)</sup> |
| 2516000 | 6.500 | 05/15/29 | 2486789 |
| Mersin Uluslararasi Liman Isletmeciligi AS<sup>(b)</sup> | Mersin Uluslararasi Liman Isletmeciligi AS<sup>(b)</sup> | Mersin Uluslararasi Liman Isletmeciligi AS<sup>(b)</sup> | Mersin Uluslararasi Liman Isletmeciligi AS<sup>(b)</sup> |
| 200000 | 8.250 | 11/15/28 | 208250 |
| Verisure Holding AB<sup>(b)</sup>  | Verisure Holding AB<sup>(b)</sup>  | Verisure Holding AB<sup>(b)</sup>  | Verisure Holding AB<sup>(b)</sup>  |
| 725000 | 3.250 | 02/15/27 | 825276 |
| 2033000 | 5.500 | 05/15/30 | 2422930 |
| Verisure Midholding AB | Verisure Midholding AB | Verisure Midholding AB | Verisure Midholding AB |
| 800000 | 5.250 <sup>(b)</sup> | 02/15/29 | 920172 |
| 1350000 | 5.250 | 02/15/29 | 1552790 |
| Veritiv Operating Co.<sup>(b)</sup>  | Veritiv Operating Co.<sup>(b)</sup>  | Veritiv Operating Co.<sup>(b)</sup>  | Veritiv Operating Co.<sup>(b)</sup>  |
| 100000 | 10.500 | 11/30/30 | 108417 |
| VT Topco, Inc.<sup>(b)</sup> | VT Topco, Inc.<sup>(b)</sup> | VT Topco, Inc.<sup>(b)</sup> | VT Topco, Inc.<sup>(b)</sup> |
| 5067000 | 8.500 | 08/15/30 | 5394734 |
| Wand NewCo 3, Inc.<sup>(b)</sup> | Wand NewCo 3, Inc.<sup>(b)</sup> | Wand NewCo 3, Inc.<sup>(b)</sup> | Wand NewCo 3, Inc.<sup>(b)</sup> |
| 2824000 | 7.625 | 01/30/32 | 2967855 |
| Williams Scotsman, Inc.<sup>(b)</sup> | Williams Scotsman, Inc.<sup>(b)</sup> | Williams Scotsman, Inc.<sup>(b)</sup> | Williams Scotsman, Inc.<sup>(b)</sup> |
| 1878000 | 6.625 | 06/15/29 | 1926171 |
|  |  |  | 38696512 |
| **Computers<sup>(a)</sup>** – **0.9%** | **Computers<sup>(a)</sup>** – **0.9%** | **Computers<sup>(a)</sup>** – **0.9%** | **Computers<sup>(a)</sup>** – **0.9%** |
| Ahead DB Holdings LLC<sup>(b)</sup> | Ahead DB Holdings LLC<sup>(b)</sup> | Ahead DB Holdings LLC<sup>(b)</sup> | Ahead DB Holdings LLC<sup>(b)</sup> |
| 3200000 | 6.625 | 05/01/28 | 3206272 |
| Atos SE<sup>(f)</sup>  | Atos SE<sup>(f)</sup>  | Atos SE<sup>(f)</sup>  | Atos SE<sup>(f)</sup>  |
| 1795000 | 9.000 | 12/18/29 | 2269973 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal**<br> **Amount** | **Interest**<br> **Rate** | **Maturity**<br> **Date** | **Value** |
| **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** |
| **Computers<sup>(a)</sup>** – **(continued)** | **Computers<sup>(a)</sup>** – **(continued)** | **Computers<sup>(a)</sup>** – **(continued)** | **Computers<sup>(a)</sup>** – **(continued)** |
| Booz Allen Hamilton, Inc.<sup>(b)</sup>  | Booz Allen Hamilton, Inc.<sup>(b)</sup>  | Booz Allen Hamilton, Inc.<sup>(b)</sup>  | Booz Allen Hamilton, Inc.<sup>(b)</sup>  |
| 2413000 | 3.875% | 09/01/28 | $2340489 |
| CACI International, Inc.<sup>(b)</sup> | CACI International, Inc.<sup>(b)</sup> | CACI International, Inc.<sup>(b)</sup> | CACI International, Inc.<sup>(b)</sup> |
| 955000 | 6.375 | 06/15/33 | 977557 |
| Dell International LLC/EMC Corp. | Dell International LLC/EMC Corp. | Dell International LLC/EMC Corp. | Dell International LLC/EMC Corp. |
| 2589000 | 8.100 | 07/15/36 | 3113065 |
| Diebold Nixdorf, Inc.<sup>(b)</sup> | Diebold Nixdorf, Inc.<sup>(b)</sup> | Diebold Nixdorf, Inc.<sup>(b)</sup> | Diebold Nixdorf, Inc.<sup>(b)</sup> |
| 2300000 | 7.750 | 03/31/30 | 2437931 |
| Hewlett Packard Enterprise Co. | Hewlett Packard Enterprise Co. | Hewlett Packard Enterprise Co. | Hewlett Packard Enterprise Co. |
| 2620000 | 6.200 | 10/15/35 | 2763314 |
| KBR, Inc.<sup>(b)</sup> | KBR, Inc.<sup>(b)</sup> | KBR, Inc.<sup>(b)</sup> | KBR, Inc.<sup>(b)</sup> |
| 1116000 | 4.750 | 09/30/28 | 1075623 |
| McAfee Corp.<sup>(b)</sup> | McAfee Corp.<sup>(b)</sup> | McAfee Corp.<sup>(b)</sup> | McAfee Corp.<sup>(b)</sup> |
| 3295000 | 7.375 | 02/15/30 | 3058090 |
| Virtusa Corp.<sup>(b)</sup> | Virtusa Corp.<sup>(b)</sup> | Virtusa Corp.<sup>(b)</sup> | Virtusa Corp.<sup>(b)</sup> |
| 2186000 | 7.125 | 12/15/28 | 2088417 |
|  |  |  | 23330731 |
| **Cosmetics & Personal Care<sup>(a)</sup>** – **0.0%** | **Cosmetics & Personal Care<sup>(a)</sup>** – **0.0%** | **Cosmetics & Personal Care<sup>(a)</sup>** – **0.0%** | **Cosmetics & Personal Care<sup>(a)</sup>** – **0.0%** |
| Perrigo Finance Unlimited Co. | Perrigo Finance Unlimited Co. | Perrigo Finance Unlimited Co. | Perrigo Finance Unlimited Co. |
| 825000 | 6.125 | 09/30/32 | 830354 |
| **Distribution & Wholesale<sup>(a)(b)</sup>** – **0.1%** | **Distribution & Wholesale<sup>(a)(b)</sup>** – **0.1%** | **Distribution & Wholesale<sup>(a)(b)</sup>** – **0.1%** | **Distribution & Wholesale<sup>(a)(b)</sup>** – **0.1%** |
| American Builders & Contractors Supply Co., Inc. | American Builders & Contractors Supply Co., Inc. | American Builders & Contractors Supply Co., Inc. | American Builders & Contractors Supply Co., Inc. |
| 2650000 | 3.875 | 11/15/29 | 2496406 |
| Telecommunications Co. Telekom Srbija AD Belgrade | Telecommunications Co. Telekom Srbija AD Belgrade | Telecommunications Co. Telekom Srbija AD Belgrade | Telecommunications Co. Telekom Srbija AD Belgrade |
| 200000 | 7.000 | 10/28/29 | 199888 |
|  |  |  | 2696294 |
| **Diversified Financial Services** – **2.6%** | **Diversified Financial Services** – **2.6%** | **Diversified Financial Services** – **2.6%** | **Diversified Financial Services** – **2.6%** |
| AerCap Ireland Capital DAC/AerCap Global Aviation Trust<sup>(a)(d)</sup>  | AerCap Ireland Capital DAC/AerCap Global Aviation Trust<sup>(a)(d)</sup>  | AerCap Ireland Capital DAC/AerCap Global Aviation Trust<sup>(a)(d)</sup>  | AerCap Ireland Capital DAC/AerCap Global Aviation Trust<sup>(a)(d)</sup>  |
| (5 yr. CMT + 2.720%) | (5 yr. CMT + 2.720%) | (5 yr. CMT + 2.720%) | (5 yr. CMT + 2.720%) |
| 1850000 | 6.950 | 03/10/55 | 1928070 |
| AG TTMT Escrow Issuer LLC<sup>(a)(b)</sup> | AG TTMT Escrow Issuer LLC<sup>(a)(b)</sup> | AG TTMT Escrow Issuer LLC<sup>(a)(b)</sup> | AG TTMT Escrow Issuer LLC<sup>(a)(b)</sup> |
| 985000 | 8.625 | 09/30/27 | 1011506 |
| Air Lease Corp.<sup>(a)(d)</sup> (5 yr. CMT + 2.560%) | Air Lease Corp.<sup>(a)(d)</sup> (5 yr. CMT + 2.560%) | Air Lease Corp.<sup>(a)(d)</sup> (5 yr. CMT + 2.560%) | Air Lease Corp.<sup>(a)(d)</sup> (5 yr. CMT + 2.560%) |
| 3186000 | 6.000 | 09/24/29 | 3112435 |
| Ally Financial, Inc. | Ally Financial, Inc. | Ally Financial, Inc. | Ally Financial, Inc. |
| 3840000 | 8.000 | 11/01/31 | 4337011 |
| (7 yr. CMT + 3.481%) | (7 yr. CMT + 3.481%) | (7 yr. CMT + 3.481%) | (7 yr. CMT + 3.481%) |
| 3275000 | 4.700 <sup>(a)(d)</sup> | 05/15/28 | 2987128 |
| American Express Co.<sup>(a)(d)</sup> (5 yr. CMT + 2.854%) | American Express Co.<sup>(a)(d)</sup> (5 yr. CMT + 2.854%) | American Express Co.<sup>(a)(d)</sup> (5 yr. CMT + 2.854%) | American Express Co.<sup>(a)(d)</sup> (5 yr. CMT + 2.854%) |
| 960000 | 3.550 | 09/15/26 | 938333 |
| Avolon Holdings Funding Ltd.<sup>(a)(b)</sup> | Avolon Holdings Funding Ltd.<sup>(a)(b)</sup> | Avolon Holdings Funding Ltd.<sup>(a)(b)</sup> | Avolon Holdings Funding Ltd.<sup>(a)(b)</sup> |
| 1245000 | 3.250 | 02/15/27 | 1213302 |
| Charles Schwab Corp.<sup>(a)(d)</sup> (5 yr. CMT + 3.168%) | Charles Schwab Corp.<sup>(a)(d)</sup> (5 yr. CMT + 3.168%) | Charles Schwab Corp.<sup>(a)(d)</sup> (5 yr. CMT + 3.168%) | Charles Schwab Corp.<sup>(a)(d)</sup> (5 yr. CMT + 3.168%) |
| 2760000 | 4.000 | 06/01/26 | 2717993 |
| Credit Acceptance Corp.<sup>(a)(b)</sup> | Credit Acceptance Corp.<sup>(a)(b)</sup> | Credit Acceptance Corp.<sup>(a)(b)</sup> | Credit Acceptance Corp.<sup>(a)(b)</sup> |
| 1635000 | 6.625 | 03/15/30 | 1656124 |
| Focus Financial Partners LLC<sup>(a)(b)</sup> | Focus Financial Partners LLC<sup>(a)(b)</sup> | Focus Financial Partners LLC<sup>(a)(b)</sup> | Focus Financial Partners LLC<sup>(a)(b)</sup> |
| 2135000 | 6.750 | 09/15/31 | 2181564 |
| Freedom Mortgage Holdings LLC<sup>(a)(b)</sup> | Freedom Mortgage Holdings LLC<sup>(a)(b)</sup> | Freedom Mortgage Holdings LLC<sup>(a)(b)</sup> | Freedom Mortgage Holdings LLC<sup>(a)(b)</sup> |
| 4870000 | 9.250 | 02/01/29 | 5092364 |
| Jane Street Group/JSG Finance, Inc.<sup>(a)(b)</sup> | Jane Street Group/JSG Finance, Inc.<sup>(a)(b)</sup> | Jane Street Group/JSG Finance, Inc.<sup>(a)(b)</sup> | Jane Street Group/JSG Finance, Inc.<sup>(a)(b)</sup> |
| 2535000 | 6.125 | 11/01/32 | 2516545 |

---

------

GOLDMAN SACHS INCOME BUILDER FUND

*July 31, 2025 (Unaudited)* 

---

| | | | |
|:---|:---|:---|:---|
| **Principal**<br> **Amount** | **Interest**<br> **Rate** | **Maturity**<br> **Date** | **Value** |
| **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** |
| **Diversified Financial Services** – **(continued)** | **Diversified Financial Services** – **(continued)** | **Diversified Financial Services** – **(continued)** | **Diversified Financial Services** – **(continued)** |
| Jefferies Finance LLC/JFIN Co-Issuer Corp.<sup>(a)(b)</sup>  | Jefferies Finance LLC/JFIN Co-Issuer Corp.<sup>(a)(b)</sup>  | Jefferies Finance LLC/JFIN Co-Issuer Corp.<sup>(a)(b)</sup>  | Jefferies Finance LLC/JFIN Co-Issuer Corp.<sup>(a)(b)</sup>  |
| 3069000 | 5.000% | 08/15/28 | $2960235 |
| Macquarie Airfinance Holdings Ltd.<sup>(a)(b)</sup> | Macquarie Airfinance Holdings Ltd.<sup>(a)(b)</sup> | Macquarie Airfinance Holdings Ltd.<sup>(a)(b)</sup> | Macquarie Airfinance Holdings Ltd.<sup>(a)(b)</sup> |
| 340000 | 6.400 | 03/26/29 | 353637 |
| Midcap Financial Issuer Trust<sup>(a)(b)</sup> | Midcap Financial Issuer Trust<sup>(a)(b)</sup> | Midcap Financial Issuer Trust<sup>(a)(b)</sup> | Midcap Financial Issuer Trust<sup>(a)(b)</sup> |
| 2367000 | 6.500 | 05/01/28 | 2346857 |
| 810000 | 5.625 | 01/15/30 | 760882 |
| Nationstar Mortgage Holdings, Inc.<sup>(a)(b)</sup> | Nationstar Mortgage Holdings, Inc.<sup>(a)(b)</sup> | Nationstar Mortgage Holdings, Inc.<sup>(a)(b)</sup> | Nationstar Mortgage Holdings, Inc.<sup>(a)(b)</sup> |
| 2541000 | 5.500 | 08/15/28 | 2538408 |
| Navient Corp.<sup>(a)</sup> | Navient Corp.<sup>(a)</sup> | Navient Corp.<sup>(a)</sup> | Navient Corp.<sup>(a)</sup> |
| 2293000 | 5.500 | 03/15/29 | 2243563 |
| 1645000 | 9.375 | 07/25/30 | 1799202 |
| OneMain Finance Corp. | OneMain Finance Corp. | OneMain Finance Corp. | OneMain Finance Corp. |
| 536000 | 7.125 | 03/15/26 | 542303 |
| 1740000 | 6.625 <sup>(a)</sup> | 05/15/29 | 1776836 |
| 1578000 | 4.000 <sup>(a)</sup> | 09/15/30 | 1443602 |
| 4525000 | 7.125 <sup>(a)</sup> | 09/15/32 | 4665637 |
| Osaic Holdings, Inc.<sup>(a)(b)</sup> | Osaic Holdings, Inc.<sup>(a)(b)</sup> | Osaic Holdings, Inc.<sup>(a)(b)</sup> | Osaic Holdings, Inc.<sup>(a)(b)</sup> |
| 57000 | 6.750 | 08/01/32 | 57692 |
| 57000 | 8.000 | 08/01/33 | 57918 |
| Oxford Finance LLC/Oxford Finance Co-Issuer II, Inc.<sup>(a)(b)</sup> | Oxford Finance LLC/Oxford Finance Co-Issuer II, Inc.<sup>(a)(b)</sup> | Oxford Finance LLC/Oxford Finance Co-Issuer II, Inc.<sup>(a)(b)</sup> | Oxford Finance LLC/Oxford Finance Co-Issuer II, Inc.<sup>(a)(b)</sup> |
| 1310000 | 6.375 | 02/01/27 | 1309240 |
| PennyMac Financial Services, Inc.<sup>(a)(b)</sup> | PennyMac Financial Services, Inc.<sup>(a)(b)</sup> | PennyMac Financial Services, Inc.<sup>(a)(b)</sup> | PennyMac Financial Services, Inc.<sup>(a)(b)</sup> |
| 1760000 | 6.875 | 05/15/32 | 1793722 |
| Rocket Cos., Inc.<sup>(a)(b)</sup> | Rocket Cos., Inc.<sup>(a)(b)</sup> | Rocket Cos., Inc.<sup>(a)(b)</sup> | Rocket Cos., Inc.<sup>(a)(b)</sup> |
| 1840000 | 6.125 | 08/01/30 | 1867158 |
| 1580000 | 6.375 | 08/01/33 | 1611979 |
| Rocket Mortgage LLC/Rocket Mortgage Co-Issuer, Inc.<sup>(a)(b)</sup> | Rocket Mortgage LLC/Rocket Mortgage Co-Issuer, Inc.<sup>(a)(b)</sup> | Rocket Mortgage LLC/Rocket Mortgage Co-Issuer, Inc.<sup>(a)(b)</sup> | Rocket Mortgage LLC/Rocket Mortgage Co-Issuer, Inc.<sup>(a)(b)</sup> |
| 2587000 | 4.000 | 10/15/33 | 2290375 |
| SLM Corp.<sup>(a)</sup> | SLM Corp.<sup>(a)</sup> | SLM Corp.<sup>(a)</sup> | SLM Corp.<sup>(a)</sup> |
| 970000 | 6.500 | 01/31/30 | 1007520 |
| Stonex Escrow Issuer LLC<sup>(a)(b)</sup> | Stonex Escrow Issuer LLC<sup>(a)(b)</sup> | Stonex Escrow Issuer LLC<sup>(a)(b)</sup> | Stonex Escrow Issuer LLC<sup>(a)(b)</sup> |
| 945000 | 6.875 | 07/15/32 | 962870 |
| StoneX Group, Inc.<sup>(a)(b)</sup> | StoneX Group, Inc.<sup>(a)(b)</sup> | StoneX Group, Inc.<sup>(a)(b)</sup> | StoneX Group, Inc.<sup>(a)(b)</sup> |
| 1715000 | 7.875 | 03/01/31 | 1805381 |
| United Wholesale Mortgage LLC<sup>(a)(b)</sup> | United Wholesale Mortgage LLC<sup>(a)(b)</sup> | United Wholesale Mortgage LLC<sup>(a)(b)</sup> | United Wholesale Mortgage LLC<sup>(a)(b)</sup> |
| 3065000 | 5.500 | 04/15/29 | 2999378 |
| VFH Parent LLC/Valor Co-Issuer, Inc.<sup>(a)(b)</sup> | VFH Parent LLC/Valor Co-Issuer, Inc.<sup>(a)(b)</sup> | VFH Parent LLC/Valor Co-Issuer, Inc.<sup>(a)(b)</sup> | VFH Parent LLC/Valor Co-Issuer, Inc.<sup>(a)(b)</sup> |
| 1505000 | 7.500 | 06/15/31 | 1566028 |
|  |  |  | 68452798 |
| **Electrical** – **1.1%** | **Electrical** – **1.1%** | **Electrical** – **1.1%** | **Electrical** – **1.1%** |
| Adani Electricity Mumbai Ltd. | Adani Electricity Mumbai Ltd. | Adani Electricity Mumbai Ltd. | Adani Electricity Mumbai Ltd. |
| 410000 | 3.949 | 02/12/30 | 376995 |
| AES Panama Generation Holdings SRL<sup>(a)</sup> | AES Panama Generation Holdings SRL<sup>(a)</sup> | AES Panama Generation Holdings SRL<sup>(a)</sup> | AES Panama Generation Holdings SRL<sup>(a)</sup> |
| 225801 | 4.375 | 05/31/30 | 205253 |
| California Buyer Ltd./Atlantica Sustainable Infrastructure PLC<sup>(a)(b)</sup> | California Buyer Ltd./Atlantica Sustainable Infrastructure PLC<sup>(a)(b)</sup> | California Buyer Ltd./Atlantica Sustainable Infrastructure PLC<sup>(a)(b)</sup> | California Buyer Ltd./Atlantica Sustainable Infrastructure PLC<sup>(a)(b)</sup> |
| 2630000 | 6.375 | 02/15/32 | 2654433 |
| Calpine Corp.<sup>(a)(b)</sup> | Calpine Corp.<sup>(a)(b)</sup> | Calpine Corp.<sup>(a)(b)</sup> | Calpine Corp.<sup>(a)(b)</sup> |
| 4045000 | 3.750 | 03/01/31 | 3802988 |
| EnfraGen Energia Sur SA/EnfraGen Spain SA/Prime Energia SpA<sup>(a)</sup> | EnfraGen Energia Sur SA/EnfraGen Spain SA/Prime Energia SpA<sup>(a)</sup> | EnfraGen Energia Sur SA/EnfraGen Spain SA/Prime Energia SpA<sup>(a)</sup> | EnfraGen Energia Sur SA/EnfraGen Spain SA/Prime Energia SpA<sup>(a)</sup> |
| 400000 | 5.375 | 12/30/30 | 363140 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal**<br> **Amount** | **Interest**<br> **Rate** | **Maturity**<br> **Date** | **Value** |
| **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** |
| **Electrical** – **(continued)** | **Electrical** – **(continued)** | **Electrical** – **(continued)** | **Electrical** – **(continued)** |
| Eskom Holdings SOC Ltd. | Eskom Holdings SOC Ltd. | Eskom Holdings SOC Ltd. | Eskom Holdings SOC Ltd. |
| 458000 | 8.450% | 08/10/28 | $483190 |
| FIEMEX Energia - Banco Actinver SA Institucion de Banca Multiple<sup>(a)(b)</sup> | FIEMEX Energia - Banco Actinver SA Institucion de Banca Multiple<sup>(a)(b)</sup> | FIEMEX Energia - Banco Actinver SA Institucion de Banca Multiple<sup>(a)(b)</sup> | FIEMEX Energia - Banco Actinver SA Institucion de Banca Multiple<sup>(a)(b)</sup> |
| 495254 | 7.250 | 01/31/41 | 506397 |
| Lightning Power LLC<sup>(a)(b)</sup> | Lightning Power LLC<sup>(a)(b)</sup> | Lightning Power LLC<sup>(a)(b)</sup> | Lightning Power LLC<sup>(a)(b)</sup> |
| 4213000 | 7.250 | 08/15/32 | 4407851 |
| Mong Duong Finance Holdings BV<sup>(a)</sup> | Mong Duong Finance Holdings BV<sup>(a)</sup> | Mong Duong Finance Holdings BV<sup>(a)</sup> | Mong Duong Finance Holdings BV<sup>(a)</sup> |
| 589512 | 5.125 | 05/07/29 | 576047 |
| NextEra Energy Capital Holdings, Inc.<sup>(a)(d)</sup>  | NextEra Energy Capital Holdings, Inc.<sup>(a)(d)</sup>  | NextEra Energy Capital Holdings, Inc.<sup>(a)(d)</sup>  | NextEra Energy Capital Holdings, Inc.<sup>(a)(d)</sup>  |
| (5 yr. CMT + 1.979%) | (5 yr. CMT + 1.979%) | (5 yr. CMT + 1.979%) | (5 yr. CMT + 1.979%) |
| 1645000 | 6.500 | 08/15/55 | 1700864 |
| (5 yr. CMT + 2.053%) | (5 yr. CMT + 2.053%) | (5 yr. CMT + 2.053%) | (5 yr. CMT + 2.053%) |
| 1125000 | 6.375 | 08/15/55 | 1155375 |
| NRG Energy, Inc.<sup>(a)</sup> | NRG Energy, Inc.<sup>(a)</sup> | NRG Energy, Inc.<sup>(a)</sup> | NRG Energy, Inc.<sup>(a)</sup> |
| 110000 | 5.750 | 01/15/28 | 110180 |
| 428000 | 3.375 <sup>(b)</sup> | 02/15/29 | 401811 |
| 4943000 | 5.750 <sup>(b)</sup> | 07/15/29 | 4935882 |
| Pacific Gas & Electric Co.<sup>(a)</sup> | Pacific Gas & Electric Co.<sup>(a)</sup> | Pacific Gas & Electric Co.<sup>(a)</sup> | Pacific Gas & Electric Co.<sup>(a)</sup> |
| 1410000 | 3.500 | 08/01/50 | 922958 |
| Pike Corp.<sup>(a)(b)</sup> | Pike Corp.<sup>(a)(b)</sup> | Pike Corp.<sup>(a)(b)</sup> | Pike Corp.<sup>(a)(b)</sup> |
| 2320000 | 5.500 | 09/01/28 | 2310442 |
| 785000 | 8.625 | 01/31/31 | 845406 |
| San Miguel Global Power Holdings Corp.<sup>(a)(d)</sup> (1 yr. CMT + 6.404%) | San Miguel Global Power Holdings Corp.<sup>(a)(d)</sup> (1 yr. CMT + 6.404%) | San Miguel Global Power Holdings Corp.<sup>(a)(d)</sup> (1 yr. CMT + 6.404%) | San Miguel Global Power Holdings Corp.<sup>(a)(d)</sup> (1 yr. CMT + 6.404%) |
| 350000 | 8.125 | 12/02/29 | 343875 |
| Sempra <sup>(a)(d)</sup> (5 yr. CMT + 4.550%) | Sempra <sup>(a)(d)</sup> (5 yr. CMT + 4.550%) | Sempra <sup>(a)(d)</sup> (5 yr. CMT + 4.550%) | Sempra <sup>(a)(d)</sup> (5 yr. CMT + 4.550%) |
| 3200000 | 4.875 | 10/15/25 | 3184544 |
|  |  |  | 29287631 |
| **Electrical Components & Equipment<sup>(a)(b)</sup>** – **0.1%** | **Electrical Components & Equipment<sup>(a)(b)</sup>** – **0.1%** | **Electrical Components & Equipment<sup>(a)(b)</sup>** – **0.1%** | **Electrical Components & Equipment<sup>(a)(b)</sup>** – **0.1%** |
| WESCO Distribution, Inc. | WESCO Distribution, Inc. | WESCO Distribution, Inc. | WESCO Distribution, Inc. |
| 960000 | 6.375 | 03/15/29 | 984403 |
| 730000 | 6.625 | 03/15/32 | 753127 |
|  |  |  | 1737530 |
| **Electronics<sup>(a)(b)</sup>** – **0.2%** | **Electronics<sup>(a)(b)</sup>** – **0.2%** | **Electronics<sup>(a)(b)</sup>** – **0.2%** | **Electronics<sup>(a)(b)</sup>** – **0.2%** |
| Imola Merger Corp. | Imola Merger Corp. | Imola Merger Corp. | Imola Merger Corp. |
| 4318000 | 4.750 | 05/15/29 | 4186474 |
| TTM Technologies, Inc. | TTM Technologies, Inc. | TTM Technologies, Inc. | TTM Technologies, Inc. |
| 769000 | 4.000 | 03/01/29 | 732588 |
|  |  |  | 4919062 |
| **Engineering & Construction<sup>(a)</sup>** – **0.7%** | **Engineering & Construction<sup>(a)</sup>** – **0.7%** | **Engineering & Construction<sup>(a)</sup>** – **0.7%** | **Engineering & Construction<sup>(a)</sup>** – **0.7%** |
| AECOM<sup>(b)</sup> | AECOM<sup>(b)</sup> | AECOM<sup>(b)</sup> | AECOM<sup>(b)</sup> |
| 3369000 | 6.000 | 08/01/33 | 3396289 |
| Aeropuerto Internacional de Tocumen SA | Aeropuerto Internacional de Tocumen SA | Aeropuerto Internacional de Tocumen SA | Aeropuerto Internacional de Tocumen SA |
| 1040000 | 5.125 | 08/11/61 | 745493 |
| Aeropuertos Dominicanos Siglo XXI SA<sup>(b)</sup> | Aeropuertos Dominicanos Siglo XXI SA<sup>(b)</sup> | Aeropuertos Dominicanos Siglo XXI SA<sup>(b)</sup> | Aeropuertos Dominicanos Siglo XXI SA<sup>(b)</sup> |
| 690000 | 7.000 | 06/30/34 | 711631 |
| Arcosa, Inc.<sup>(b)</sup> | Arcosa, Inc.<sup>(b)</sup> | Arcosa, Inc.<sup>(b)</sup> | Arcosa, Inc.<sup>(b)</sup> |
| 1171000 | 4.375 | 04/15/29 | 1129031 |
| 590000 | 6.875 | 08/15/32 | 610072 |

---

------

GOLDMAN SACHS INCOME BUILDER FUND

*July 31, 2025 (Unaudited)* 

---

| | | | |
|:---|:---|:---|:---|
| **Principal**<br> **Amount** | **Interest**<br> **Rate** | **Maturity**<br> **Date** | **Value** |
| **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** |
| **Engineering & Construction<sup>(a)</sup>** – **(continued)** | **Engineering & Construction<sup>(a)</sup>** – **(continued)** | **Engineering & Construction<sup>(a)</sup>** – **(continued)** | **Engineering & Construction<sup>(a)</sup>** – **(continued)** |
| ATP Tower Holdings/Andean Telecom Partners Chile SpA/Andean Tower Partners C<sup>(b)</sup>  | ATP Tower Holdings/Andean Telecom Partners Chile SpA/Andean Tower Partners C<sup>(b)</sup>  | ATP Tower Holdings/Andean Telecom Partners Chile SpA/Andean Tower Partners C<sup>(b)</sup>  | ATP Tower Holdings/Andean Telecom Partners Chile SpA/Andean Tower Partners C<sup>(b)</sup>  |
| 420000 | 7.875% | 02/03/30 | $425439 |
| Dycom Industries, Inc.<sup>(b)</sup> | Dycom Industries, Inc.<sup>(b)</sup> | Dycom Industries, Inc.<sup>(b)</sup> | Dycom Industries, Inc.<sup>(b)</sup> |
| 2654000 | 4.500 | 04/15/29 | 2572204 |
| Global Infrastructure Solutions, Inc.<sup>(b)</sup> | Global Infrastructure Solutions, Inc.<sup>(b)</sup> | Global Infrastructure Solutions, Inc.<sup>(b)</sup> | Global Infrastructure Solutions, Inc.<sup>(b)</sup> |
| 4255000 | 5.625 | 06/01/29 | 4231682 |
| 1335000 | 7.500 | 04/15/32 | 1372740 |
| IHS Holding Ltd. | IHS Holding Ltd. | IHS Holding Ltd. | IHS Holding Ltd. |
| 293000 | 5.625 <sup>(b)</sup> | 11/29/26 | 287506 |
| 200000 | 6.250 <sup>(b)</sup> | 11/29/28 | 196640 |
| 270000 | 8.250 | 11/29/31 | 275041 |
| International Airport Finance SA | International Airport Finance SA | International Airport Finance SA | International Airport Finance SA |
| 618191 | 12.000 | 03/15/33 | 660587 |
| Kingston Airport Revenue Finance Ltd.<sup>(b)</sup> | Kingston Airport Revenue Finance Ltd.<sup>(b)</sup> | Kingston Airport Revenue Finance Ltd.<sup>(b)</sup> | Kingston Airport Revenue Finance Ltd.<sup>(b)</sup> |
| 739000 | 6.750 | 12/15/36 | 743545 |
| Mexico City Airport Trust | Mexico City Airport Trust | Mexico City Airport Trust | Mexico City Airport Trust |
| 240000 | 3.875 | 04/30/28 | 232920 |
| 320000 | 5.500 | 10/31/46 | 269026 |
| 300000 | 5.500 | 07/31/47 | 251304 |
|  |  |  | 18111150 |
| **Entertainment<sup>(a)</sup>** – **1.3%** | **Entertainment<sup>(a)</sup>** – **1.3%** | **Entertainment<sup>(a)</sup>** – **1.3%** | **Entertainment<sup>(a)</sup>** – **1.3%** |
| AMC Entertainment Holdings, Inc.<sup>(b)</sup> | AMC Entertainment Holdings, Inc.<sup>(b)</sup> | AMC Entertainment Holdings, Inc.<sup>(b)</sup> | AMC Entertainment Holdings, Inc.<sup>(b)</sup> |
| 818000 | 7.500 | 02/15/29 | 695930 |
| Boyne USA, Inc.<sup>(b)</sup> | Boyne USA, Inc.<sup>(b)</sup> | Boyne USA, Inc.<sup>(b)</sup> | Boyne USA, Inc.<sup>(b)</sup> |
| 2596000 | 4.750 | 05/15/29 | 2518977 |
| Caesars Entertainment, Inc.<sup>(b)</sup> | Caesars Entertainment, Inc.<sup>(b)</sup> | Caesars Entertainment, Inc.<sup>(b)</sup> | Caesars Entertainment, Inc.<sup>(b)</sup> |
| 4323000 | 4.625 | 10/15/29 | 4087094 |
| 1325000 | 6.000 | 10/15/32 | 1279380 |
| Cinemark USA, Inc.<sup>(b)</sup> | Cinemark USA, Inc.<sup>(b)</sup> | Cinemark USA, Inc.<sup>(b)</sup> | Cinemark USA, Inc.<sup>(b)</sup> |
| 3687000 | 5.250 | 07/15/28 | 3662666 |
| 1065000 | 7.000 | 08/01/32 | 1099634 |
| Cirsa Finance International SARL<sup>(b)</sup>  | Cirsa Finance International SARL<sup>(b)</sup>  | Cirsa Finance International SARL<sup>(b)</sup>  | Cirsa Finance International SARL<sup>(b)</sup>  |
| 511000 | 6.500 | 03/15/29 | 610223 |
| Light & Wonder International, Inc.<sup>(b)</sup>  | Light & Wonder International, Inc.<sup>(b)</sup>  | Light & Wonder International, Inc.<sup>(b)</sup>  | Light & Wonder International, Inc.<sup>(b)</sup>  |
| 480000 | 7.000 | 05/15/28 | 480619 |
| Penn Entertainment, Inc.<sup>(b)</sup> | Penn Entertainment, Inc.<sup>(b)</sup> | Penn Entertainment, Inc.<sup>(b)</sup> | Penn Entertainment, Inc.<sup>(b)</sup> |
| 2942000 | 4.125 | 07/01/29 | 2726999 |
| Rivers Enterprise Borrower LLC/Rivers Enterprise Finance Corp.<sup>(b)</sup> | Rivers Enterprise Borrower LLC/Rivers Enterprise Finance Corp.<sup>(b)</sup> | Rivers Enterprise Borrower LLC/Rivers Enterprise Finance Corp.<sup>(b)</sup> | Rivers Enterprise Borrower LLC/Rivers Enterprise Finance Corp.<sup>(b)</sup> |
| 2340000 | 6.625 | 02/01/33 | 2361996 |
| SeaWorld Parks & Entertainment, Inc.<sup>(b)</sup> | SeaWorld Parks & Entertainment, Inc.<sup>(b)</sup> | SeaWorld Parks & Entertainment, Inc.<sup>(b)</sup> | SeaWorld Parks & Entertainment, Inc.<sup>(b)</sup> |
| 4680000 | 5.250 | 08/15/29 | 4565012 |
| Six Flags Entertainment Corp.<sup>(b)</sup> | Six Flags Entertainment Corp.<sup>(b)</sup> | Six Flags Entertainment Corp.<sup>(b)</sup> | Six Flags Entertainment Corp.<sup>(b)</sup> |
| 1779000 | 5.500 | 04/15/27 | 1775388 |
| Starz Capital Holdings LLC<sup>(b)</sup> | Starz Capital Holdings LLC<sup>(b)</sup> | Starz Capital Holdings LLC<sup>(b)</sup> | Starz Capital Holdings LLC<sup>(b)</sup> |
| 2435000 | 5.500 | 04/15/29 | 2015669 |
| Vail Resorts, Inc.<sup>(b)</sup> | Vail Resorts, Inc.<sup>(b)</sup> | Vail Resorts, Inc.<sup>(b)</sup> | Vail Resorts, Inc.<sup>(b)</sup> |
| 1420000 | 5.625 | 07/15/30 | 1427398 |
| Warnermedia Holdings, Inc. | Warnermedia Holdings, Inc. | Warnermedia Holdings, Inc. | Warnermedia Holdings, Inc. |
| 2205000 | 4.054 | 03/15/29 | 2074640 |
| 2660000 | 4.279 | 03/15/32 | 2239667 |
|  |  |  | 33621292 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal**<br> **Amount** | **Interest**<br> **Rate** | **Maturity**<br> **Date** | **Value** |
| **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** |
| **Environmental<sup>(a)</sup>** – **0.7%** | **Environmental<sup>(a)</sup>** – **0.7%** | **Environmental<sup>(a)</sup>** – **0.7%** | **Environmental<sup>(a)</sup>** – **0.7%** |
| Ambipar Lux SARL | Ambipar Lux SARL | Ambipar Lux SARL | Ambipar Lux SARL |
| 350000 | 9.875% | 02/06/31 | $317188 |
| GFL Environmental, Inc.<sup>(b)</sup> | GFL Environmental, Inc.<sup>(b)</sup> | GFL Environmental, Inc.<sup>(b)</sup> | GFL Environmental, Inc.<sup>(b)</sup> |
| 6695000 | 4.000 | 08/01/28 | 6485848 |
| Luna 2 5SARL<sup>(b)</sup>  | Luna 2 5SARL<sup>(b)</sup>  | Luna 2 5SARL<sup>(b)</sup>  | Luna 2 5SARL<sup>(b)</sup>  |
| 932000 | 5.500 | 07/01/32 | 1099601 |
| Madison IAQ LLC<sup>(b)</sup>  | Madison IAQ LLC<sup>(b)</sup>  | Madison IAQ LLC<sup>(b)</sup>  | Madison IAQ LLC<sup>(b)</sup>  |
| 4119000 | 4.125 | 06/30/28 | 3986739 |
| 1594000 | 5.875 | 06/30/29 | 1554166 |
| Reworld Holding Corp. | Reworld Holding Corp. | Reworld Holding Corp. | Reworld Holding Corp. |
| 645000 | 5.000 | 09/01/30 | 612208 |
| Waste Pro USA, Inc.<sup>(b)</sup> | Waste Pro USA, Inc.<sup>(b)</sup> | Waste Pro USA, Inc.<sup>(b)</sup> | Waste Pro USA, Inc.<sup>(b)</sup> |
| 4305000 | 7.000 | 02/01/33 | 4468159 |
|  |  |  | 18523909 |
| **Food & Drug Retailing** – **1.1%** | **Food & Drug Retailing** – **1.1%** | **Food & Drug Retailing** – **1.1%** | **Food & Drug Retailing** – **1.1%** |
| Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC<sup>(a)(b)</sup> | Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC<sup>(a)(b)</sup> | Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC<sup>(a)(b)</sup> | Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC<sup>(a)(b)</sup> |
| 2490000 | 4.625 | 01/15/27 | 2471250 |
| 1915000 | 5.875 | 02/15/28 | 1914349 |
| 482000 | 4.875 | 02/15/30 | 470177 |
| Aragvi Finance International DAC<sup>(a)(b)</sup> | Aragvi Finance International DAC<sup>(a)(b)</sup> | Aragvi Finance International DAC<sup>(a)(b)</sup> | Aragvi Finance International DAC<sup>(a)(b)</sup> |
| 440000 | 11.125 | 11/20/29 | 441316 |
| Arcor SAIC<sup>(a)(b)</sup> | Arcor SAIC<sup>(a)(b)</sup> | Arcor SAIC<sup>(a)(b)</sup> | Arcor SAIC<sup>(a)(b)</sup> |
| 240000 | 7.600 | 07/31/33 | 239640 |
| BRF GmbH | BRF GmbH | BRF GmbH | BRF GmbH |
| 317000 | 4.350 | 09/29/26 | 313868 |
| BRF SA<sup>(a)</sup> | BRF SA<sup>(a)</sup> | BRF SA<sup>(a)</sup> | BRF SA<sup>(a)</sup> |
| 206000 | 5.750 | 09/21/50 | 168535 |
| Chobani Holdco II LLC<sup>(a)(b)(c)</sup> (PIK 9.500%, Cash 8.750%) | Chobani Holdco II LLC<sup>(a)(b)(c)</sup> (PIK 9.500%, Cash 8.750%) | Chobani Holdco II LLC<sup>(a)(b)(c)</sup> (PIK 9.500%, Cash 8.750%) | Chobani Holdco II LLC<sup>(a)(b)(c)</sup> (PIK 9.500%, Cash 8.750%) |
| 438461 | 8.750 | 10/01/29 | 471297 |
| Fiesta Purchaser, Inc.<sup>(a)(b)</sup> | Fiesta Purchaser, Inc.<sup>(a)(b)</sup> | Fiesta Purchaser, Inc.<sup>(a)(b)</sup> | Fiesta Purchaser, Inc.<sup>(a)(b)</sup> |
| 1193000 | 9.625 | 09/15/32 | 1263769 |
| Grupo Nutresa SA<sup>(a)(b)</sup> | Grupo Nutresa SA<sup>(a)(b)</sup> | Grupo Nutresa SA<sup>(a)(b)</sup> | Grupo Nutresa SA<sup>(a)(b)</sup> |
| 300000 | 8.000 | 05/12/30 | 316200 |
| 300000 | 9.000 | 05/12/35 | 328050 |
| Kraft Heinz Foods Co.<sup>(a)</sup> | Kraft Heinz Foods Co.<sup>(a)</sup> | Kraft Heinz Foods Co.<sup>(a)</sup> | Kraft Heinz Foods Co.<sup>(a)</sup> |
| 2208000 | 5.000 | 07/15/35 | 2135511 |
| 2487000 | 4.375 | 06/01/46 | 1976469 |
| Performance Food Group, Inc.<sup>(a)(b)</sup> | Performance Food Group, Inc.<sup>(a)(b)</sup> | Performance Food Group, Inc.<sup>(a)(b)</sup> | Performance Food Group, Inc.<sup>(a)(b)</sup> |
| 1105000 | 5.500 | 10/15/27 | 1103884 |
| Post Holdings, Inc.<sup>(a)(b)</sup> | Post Holdings, Inc.<sup>(a)(b)</sup> | Post Holdings, Inc.<sup>(a)(b)</sup> | Post Holdings, Inc.<sup>(a)(b)</sup> |
| 5739000 | 4.625 | 04/15/30 | 5482122 |
| 3611000 | 6.375 | 03/01/33 | 3618222 |
| U.S. Foods, Inc.<sup>(a)(b)</sup> | U.S. Foods, Inc.<sup>(a)(b)</sup> | U.S. Foods, Inc.<sup>(a)(b)</sup> | U.S. Foods, Inc.<sup>(a)(b)</sup> |
| 2580000 | 4.750 | 02/15/29 | 2529303 |
| 980000 | 4.625 | 06/01/30 | 944995 |
| United Natural Foods, Inc.<sup>(a)(b)</sup> | United Natural Foods, Inc.<sup>(a)(b)</sup> | United Natural Foods, Inc.<sup>(a)(b)</sup> | United Natural Foods, Inc.<sup>(a)(b)</sup> |
| 1970000 | 6.750 | 10/15/28 | 1961726 |
|  |  |  | 28150683 |
| **Hand/Machine Tools<sup>(a)</sup>** – **0.1%** | **Hand/Machine Tools<sup>(a)</sup>** – **0.1%** | **Hand/Machine Tools<sup>(a)</sup>** – **0.1%** | **Hand/Machine Tools<sup>(a)</sup>** – **0.1%** |
| Regal Rexnord Corp. | Regal Rexnord Corp. | Regal Rexnord Corp. | Regal Rexnord Corp. |
| 1940000 | 6.300 | 02/15/30 | 2031471 |

---

------

GOLDMAN SACHS INCOME BUILDER FUND

*July 31, 2025 (Unaudited)* 

---

| | | | |
|:---|:---|:---|:---|
| **Principal**<br> **Amount** | **Interest**<br> **Rate** | **Maturity**<br> **Date** | **Value** |
| **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** |
| **Healthcare Providers & Services<sup>(a)</sup>** – **1.2%** | **Healthcare Providers & Services<sup>(a)</sup>** – **1.2%** | **Healthcare Providers & Services<sup>(a)</sup>** – **1.2%** | **Healthcare Providers & Services<sup>(a)</sup>** – **1.2%** |
| CAB SELAS | CAB SELAS | CAB SELAS | CAB SELAS |
| 1075000 | 3.375 %<sup>(b)</sup> | 02/01/28 | $1175007 |
| 1207000 | 3.375 | 02/01/28 | 1319287 |
| DaVita, Inc. <sup>(b)</sup>  | DaVita, Inc. <sup>(b)</sup>  | DaVita, Inc. <sup>(b)</sup>  | DaVita, Inc. <sup>(b)</sup>  |
| 6785000 | 3.750 | 02/15/31 | 6155081 |
| 1915000 | 6.750 | 07/15/33 | 1974250 |
| Encompass Health Corp. | Encompass Health Corp. | Encompass Health Corp. | Encompass Health Corp. |
| 1150000 | 4.500 | 02/01/28 | 1132669 |
| LifePoint Health, Inc.<sup>(b)</sup> | LifePoint Health, Inc.<sup>(b)</sup> | LifePoint Health, Inc.<sup>(b)</sup> | LifePoint Health, Inc.<sup>(b)</sup> |
| 3465000 | 5.375 | 01/15/29 | 3253392 |
| Medline Borrower LP<sup>(b)</sup> | Medline Borrower LP<sup>(b)</sup> | Medline Borrower LP<sup>(b)</sup> | Medline Borrower LP<sup>(b)</sup> |
| 3135000 | 3.875 | 04/01/29 | 2989661 |
| 4389000 | 5.250 | 10/01/29 | 4306575 |
| Molina Healthcare, Inc.<sup>(b)</sup> | Molina Healthcare, Inc.<sup>(b)</sup> | Molina Healthcare, Inc.<sup>(b)</sup> | Molina Healthcare, Inc.<sup>(b)</sup> |
| 1818000 | 3.875 | 05/15/32 | 1587405 |
| 2275000 | 6.250 | 01/15/33 | 2244970 |
| Prime Healthcare Services, Inc.<sup>(b)</sup> | Prime Healthcare Services, Inc.<sup>(b)</sup> | Prime Healthcare Services, Inc.<sup>(b)</sup> | Prime Healthcare Services, Inc.<sup>(b)</sup> |
| 1535000 | 9.375 | 09/01/29 | 1525022 |
| Team Health Holdings, Inc.<sup>(b)</sup> | Team Health Holdings, Inc.<sup>(b)</sup> | Team Health Holdings, Inc.<sup>(b)</sup> | Team Health Holdings, Inc.<sup>(b)</sup> |
| 654000 | 8.375 | 06/30/28 | 657185 |
| Tenet Healthcare Corp. | Tenet Healthcare Corp. | Tenet Healthcare Corp. | Tenet Healthcare Corp. |
| 3154000 | 6.125 | 06/15/30 | 3183458 |
|  |  |  | 31503962 |
| **Home Builders** – **0.5%** | **Home Builders** – **0.5%** | **Home Builders** – **0.5%** | **Home Builders** – **0.5%** |
| Brookfield Residential Properties, Inc./Brookfield Residential U.S.<br>LLC<sup>(a)(b)</sup> | Brookfield Residential Properties, Inc./Brookfield Residential U.S.<br>LLC<sup>(a)(b)</sup> | Brookfield Residential Properties, Inc./Brookfield Residential U.S.<br>LLC<sup>(a)(b)</sup> | Brookfield Residential Properties, Inc./Brookfield Residential U.S.<br>LLC<sup>(a)(b)</sup> |
| 1577000 | 4.875 | 02/15/30 | 1435937 |
| Installed Building Products, Inc.<sup>(a)(b)</sup> | Installed Building Products, Inc.<sup>(a)(b)</sup> | Installed Building Products, Inc.<sup>(a)(b)</sup> | Installed Building Products, Inc.<sup>(a)(b)</sup> |
| 770000 | 5.750 | 02/01/28 | 767998 |
| KB Home<sup>(a)</sup> | KB Home<sup>(a)</sup> | KB Home<sup>(a)</sup> | KB Home<sup>(a)</sup> |
| 1730000 | 7.250 | 07/15/30 | 1780464 |
| New Home Co., Inc.<sup>(a)(b)</sup> | New Home Co., Inc.<sup>(a)(b)</sup> | New Home Co., Inc.<sup>(a)(b)</sup> | New Home Co., Inc.<sup>(a)(b)</sup> |
| 3250000 | 8.500 | 11/01/30 | 3320428 |
| PulteGroup, Inc. | PulteGroup, Inc. | PulteGroup, Inc. | PulteGroup, Inc. |
| 2880000 | 7.875 | 06/15/32 | 3361651 |
| Taylor Morrison Communities, Inc.<sup>(a)(b)</sup> | Taylor Morrison Communities, Inc.<sup>(a)(b)</sup> | Taylor Morrison Communities, Inc.<sup>(a)(b)</sup> | Taylor Morrison Communities, Inc.<sup>(a)(b)</sup> |
| 1246000 | 5.125 | 08/01/30 | 1228220 |
|  |  |  | 11894698 |
| **Home Furnishings<sup>(a)(b)</sup>** – **0.0%** | **Home Furnishings<sup>(a)(b)</sup>** – **0.0%** | **Home Furnishings<sup>(a)(b)</sup>** – **0.0%** | **Home Furnishings<sup>(a)(b)</sup>** – **0.0%** |
| Somnigroup International, Inc. | Somnigroup International, Inc. | Somnigroup International, Inc. | Somnigroup International, Inc. |
| 1455000 | 3.875 | 10/15/31 | 1313821 |
| **Household Products<sup>(a)</sup>** – **0.1%** | **Household Products<sup>(a)</sup>** – **0.1%** | **Household Products<sup>(a)</sup>** – **0.1%** | **Household Products<sup>(a)</sup>** – **0.1%** |
| Central Garden & Pet Co. | Central Garden & Pet Co. | Central Garden & Pet Co. | Central Garden & Pet Co. |
| 1325000 | 4.125 | 10/15/30 | 1245354 |
| Kronos Acquisition Holdings, Inc.<sup>(b)</sup> | Kronos Acquisition Holdings, Inc.<sup>(b)</sup> | Kronos Acquisition Holdings, Inc.<sup>(b)</sup> | Kronos Acquisition Holdings, Inc.<sup>(b)</sup> |
| 1230000 | 8.250 | 06/30/31 | 1067320 |
| Spectrum Brands, Inc.<sup>(b)</sup> | Spectrum Brands, Inc.<sup>(b)</sup> | Spectrum Brands, Inc.<sup>(b)</sup> | Spectrum Brands, Inc.<sup>(b)</sup> |
| 442000 | 3.875 | 03/15/31 | 352239 |
|  |  |  | 2664913 |
| **Housewares<sup>(a)</sup>** – **0.2%** | **Housewares<sup>(a)</sup>** – **0.2%** | **Housewares<sup>(a)</sup>** – **0.2%** | **Housewares<sup>(a)</sup>** – **0.2%** |
| Newell Brands, Inc. | Newell Brands, Inc. | Newell Brands, Inc. | Newell Brands, Inc. |
| 860000 | 8.500 <sup>(b)</sup> | 06/01/28 | 902149 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal**<br> **Amount** | **Interest**<br> **Rate** | **Maturity**<br> **Date** | **Value** |
| **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** |
| **Housewares<sup>(a)</sup>** – **(continued)** | **Housewares<sup>(a)</sup>** – **(continued)** | **Housewares<sup>(a)</sup>** – **(continued)** | **Housewares<sup>(a)</sup>** – **(continued)** |
| 475000 | 6.375% | 05/15/30 | $461705 |
| 730000 | 6.625 | 05/15/32 | 698376 |
| 1325000 | 7.000 | 04/01/46 | 1136108 |
| Scotts Miracle-Gro Co. | Scotts Miracle-Gro Co. | Scotts Miracle-Gro Co. | Scotts Miracle-Gro Co. |
| 3552000 | 4.000 | 04/01/31 | 3245107 |
|  |  |  | 6443445 |
| **Insurance** – **1.7%** | **Insurance** – **1.7%** | **Insurance** – **1.7%** | **Insurance** – **1.7%** |
| Acrisure LLC/Acrisure Finance, Inc.<sup>(a)(b)</sup> | Acrisure LLC/Acrisure Finance, Inc.<sup>(a)(b)</sup> | Acrisure LLC/Acrisure Finance, Inc.<sup>(a)(b)</sup> | Acrisure LLC/Acrisure Finance, Inc.<sup>(a)(b)</sup> |
| 895000 | 8.250 | 02/01/29 | 924499 |
| 2140000 | 4.250 | 02/15/29 | 2042095 |
| 2390000 | 6.000 | 08/01/29 | 2330680 |
| 1065000 | 6.750 | 07/01/32 | 1078355 |
| Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer<sup>(a)(b)</sup> | Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer<sup>(a)(b)</sup> | Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer<sup>(a)(b)</sup> | Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer<sup>(a)(b)</sup> |
| 1596000 | 6.750 | 10/15/27 | 1599990 |
| 5275000 | 6.750 | 04/15/28 | 5346160 |
| 1660000 | 7.375 | 10/01/32 | 1706779 |
| APH Somerset Investor 2 LLC/APH2 Somerset Investor 2 LLC/APH3 Somerset Investor 2 LLC<sup>(a)(b)</sup> | APH Somerset Investor 2 LLC/APH2 Somerset Investor 2 LLC/APH3 Somerset Investor 2 LLC<sup>(a)(b)</sup> | APH Somerset Investor 2 LLC/APH2 Somerset Investor 2 LLC/APH3 Somerset Investor 2 LLC<sup>(a)(b)</sup> | APH Somerset Investor 2 LLC/APH2 Somerset Investor 2 LLC/APH3 Somerset Investor 2 LLC<sup>(a)(b)</sup> |
| 3140000 | 7.875 | 11/01/29 | 3235707 |
| Ardonagh Group Finance Ltd.<sup>(a)(b)</sup> | Ardonagh Group Finance Ltd.<sup>(a)(b)</sup> | Ardonagh Group Finance Ltd.<sup>(a)(b)</sup> | Ardonagh Group Finance Ltd.<sup>(a)(b)</sup> |
| 6551000 | 8.875 | 02/15/32 | 6892504 |
| BroadStreet Partners, Inc.<sup>(a)(b)</sup> | BroadStreet Partners, Inc.<sup>(a)(b)</sup> | BroadStreet Partners, Inc.<sup>(a)(b)</sup> | BroadStreet Partners, Inc.<sup>(a)(b)</sup> |
| 4409000 | 5.875 | 04/15/29 | 4378710 |
| Howden U.K. Refinance PLC/Howden U.K. Refinance 2 PLC/Howden U.S. Refinance LLC<sup>(a)(b)</sup> | Howden U.K. Refinance PLC/Howden U.K. Refinance 2 PLC/Howden U.S. Refinance LLC<sup>(a)(b)</sup> | Howden U.K. Refinance PLC/Howden U.K. Refinance 2 PLC/Howden U.S. Refinance LLC<sup>(a)(b)</sup> | Howden U.K. Refinance PLC/Howden U.K. Refinance 2 PLC/Howden U.S. Refinance LLC<sup>(a)(b)</sup> |
| 2975000 | 8.125 | 02/15/32 | 3098046 |
| HUB International Ltd.<sup>(a)(b)</sup> | HUB International Ltd.<sup>(a)(b)</sup> | HUB International Ltd.<sup>(a)(b)</sup> | HUB International Ltd.<sup>(a)(b)</sup> |
| 1470000 | 7.375 | 01/31/32 | 1531005 |
| MetLife, Inc.<sup>(a)(d)</sup> (5 yr. CMT + 2.078%) | MetLife, Inc.<sup>(a)(d)</sup> (5 yr. CMT + 2.078%) | MetLife, Inc.<sup>(a)(d)</sup> (5 yr. CMT + 2.078%) | MetLife, Inc.<sup>(a)(d)</sup> (5 yr. CMT + 2.078%) |
| 3045000 | 6.350 | 03/15/55 | 3128463 |
| Nassau Cos., of New York<sup>(a)(b)</sup> | Nassau Cos., of New York<sup>(a)(b)</sup> | Nassau Cos., of New York<sup>(a)(b)</sup> | Nassau Cos., of New York<sup>(a)(b)</sup> |
| 2253000 | 7.875 | 07/15/30 | 2273953 |
| Prudential Financial, Inc. <sup>(a)(d)</sup> (5 yr. CMT + 3.234%) | Prudential Financial, Inc. <sup>(a)(d)</sup> (5 yr. CMT + 3.234%) | Prudential Financial, Inc. <sup>(a)(d)</sup> (5 yr. CMT + 3.234%) | Prudential Financial, Inc. <sup>(a)(d)</sup> (5 yr. CMT + 3.234%) |
| 2400000 | 6.000 | 09/01/52 | 2433336 |
| Ryan Specialty LLC<sup>(a)(b)</sup> | Ryan Specialty LLC<sup>(a)(b)</sup> | Ryan Specialty LLC<sup>(a)(b)</sup> | Ryan Specialty LLC<sup>(a)(b)</sup> |
| 1260000 | 5.875 | 08/01/32 | 1263566 |
| Transatlantic Holdings, Inc. | Transatlantic Holdings, Inc. | Transatlantic Holdings, Inc. | Transatlantic Holdings, Inc. |
| 70000 | 8.000 | 11/30/39 | 87016 |
| USI, Inc.<sup>(a)(b)</sup> | USI, Inc.<sup>(a)(b)</sup> | USI, Inc.<sup>(a)(b)</sup> | USI, Inc.<sup>(a)(b)</sup> |
| 1125000 | 7.500 | 01/15/32 | 1188135 |
|  |  |  | 44538999 |
| **Internet<sup>(a)</sup>** – **0.7%** | **Internet<sup>(a)</sup>** – **0.7%** | **Internet<sup>(a)</sup>** – **0.7%** | **Internet<sup>(a)</sup>** – **0.7%** |
| ANGI Group LLC<sup>(b)</sup> | ANGI Group LLC<sup>(b)</sup> | ANGI Group LLC<sup>(b)</sup> | ANGI Group LLC<sup>(b)</sup> |
| 2499000 | 3.875 | 08/15/28 | 2327543 |
| Expedia Group, Inc. | Expedia Group, Inc. | Expedia Group, Inc. | Expedia Group, Inc. |
| 3285000 | 3.250 | 02/15/30 | 3098051 |
| Gen Digital, Inc.<sup>(b)</sup> | Gen Digital, Inc.<sup>(b)</sup> | Gen Digital, Inc.<sup>(b)</sup> | Gen Digital, Inc.<sup>(b)</sup> |
| 1170000 | 6.250 | 04/01/33 | 1193002 |
| GrubHub Holdings, Inc.<sup>(b)</sup> | GrubHub Holdings, Inc.<sup>(b)</sup> | GrubHub Holdings, Inc.<sup>(b)</sup> | GrubHub Holdings, Inc.<sup>(b)</sup> |
| 3260000 | 5.500 | 07/01/27 | 3189910 |
| ION Trading Technologies SARL<sup>(b)</sup> | ION Trading Technologies SARL<sup>(b)</sup> | ION Trading Technologies SARL<sup>(b)</sup> | ION Trading Technologies SARL<sup>(b)</sup> |
| 1980000 | 9.500 | 05/30/29 | 2067417 |

---

------

GOLDMAN SACHS INCOME BUILDER FUND

*July 31, 2025 (Unaudited)* 

---

| | | | |
|:---|:---|:---|:---|
| **Principal**<br> **Amount** | **Interest**<br> **Rate** | **Maturity**<br> **Date** | **Value** |
| **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** |
| **Internet<sup>(a)</sup>** – **(continued)** | **Internet<sup>(a)</sup>** – **(continued)** | **Internet<sup>(a)</sup>** – **(continued)** | **Internet<sup>(a)</sup>** – **(continued)** |
| Match Group Holdings II LLC<sup>(b)</sup>  | Match Group Holdings II LLC<sup>(b)</sup>  | Match Group Holdings II LLC<sup>(b)</sup>  | Match Group Holdings II LLC<sup>(b)</sup>  |
| 1155000 | 5.625% | 02/15/29 | $1150646 |
| 883000 | 3.625 | 10/01/31 | 790073 |
| Rakuten Group, Inc.<sup>(b)(d)</sup> (5 yr. CMT + 4.250%) | Rakuten Group, Inc.<sup>(b)(d)</sup> (5 yr. CMT + 4.250%) | Rakuten Group, Inc.<sup>(b)(d)</sup> (5 yr. CMT + 4.250%) | Rakuten Group, Inc.<sup>(b)(d)</sup> (5 yr. CMT + 4.250%) |
| 1125000 | 8.125 | 12/15/29 | 1117069 |
| Snap, Inc.<sup>(b)</sup>  | Snap, Inc.<sup>(b)</sup>  | Snap, Inc.<sup>(b)</sup>  | Snap, Inc.<sup>(b)</sup>  |
| 740000 | 6.875 | 03/01/33 | 758374 |
| United Group BV | United Group BV | United Group BV | United Group BV |
| 1125000 | 4.625 <sup>(b)</sup> | 08/15/28 | 1281012 |
| (3 mo. EUR EURIBOR + 4.250%) | (3 mo. EUR EURIBOR + 4.250%) | (3 mo. EUR EURIBOR + 4.250%) | (3 mo. EUR EURIBOR + 4.250%) |
| 1125000 | 6.393 <sup>(d)</sup> | 02/15/31 | 1285454 |
|  |  |  | 18258551 |
| **Investment Companies<sup>(a)(b)</sup>** – **0.1%** | **Investment Companies<sup>(a)(b)</sup>** – **0.1%** | **Investment Companies<sup>(a)(b)</sup>** – **0.1%** | **Investment Companies<sup>(a)(b)</sup>** – **0.1%** |
| Icahn Enterprises LP/Icahn Enterprises Finance Corp. | Icahn Enterprises LP/Icahn Enterprises Finance Corp. | Icahn Enterprises LP/Icahn Enterprises Finance Corp. | Icahn Enterprises LP/Icahn Enterprises Finance Corp. |
| 1905000 | 10.000 | 11/15/29 | 1929041 |
| **Iron/Steel<sup>(a)</sup>** – **0.3%** | **Iron/Steel<sup>(a)</sup>** – **0.3%** | **Iron/Steel<sup>(a)</sup>** – **0.3%** | **Iron/Steel<sup>(a)</sup>** – **0.3%** |
| Cleveland-Cliffs, Inc. | Cleveland-Cliffs, Inc. | Cleveland-Cliffs, Inc. | Cleveland-Cliffs, Inc. |
| 2160000 | 5.875 | 06/01/27 | 2162376 |
| 1230000 | 6.875 <sup>(b)</sup> | 11/01/29 | 1230443 |
| 1555000 | 4.875 <sup>(b)</sup> | 03/01/31 | 1373982 |
| 810000 | 7.500 <sup>(b)</sup> | 09/15/31 | 809627 |
| CSN Inova Ventures | CSN Inova Ventures | CSN Inova Ventures | CSN Inova Ventures |
| 520000 | 6.750 | 01/28/28 | 493652 |
| Metinvest BV | Metinvest BV | Metinvest BV | Metinvest BV |
| 200000 | 8.500 | 04/23/26 | 177000 |
| Samarco Mineracao SA<sup>(c)</sup> (PIK 9.049%, Cash 9.000%) | Samarco Mineracao SA<sup>(c)</sup> (PIK 9.049%, Cash 9.000%) | Samarco Mineracao SA<sup>(c)</sup> (PIK 9.049%, Cash 9.000%) | Samarco Mineracao SA<sup>(c)</sup> (PIK 9.049%, Cash 9.000%) |
| 815822 | 9.500 | 06/30/31 | 806644 |
|  |  |  | 7053724 |
| **Leisure Time<sup>(a)(b)</sup>** – **0.7%** | **Leisure Time<sup>(a)(b)</sup>** – **0.7%** | **Leisure Time<sup>(a)(b)</sup>** – **0.7%** | **Leisure Time<sup>(a)(b)</sup>** – **0.7%** |
| Acushnet Co. | Acushnet Co. | Acushnet Co. | Acushnet Co. |
| 310000 | 7.375 | 10/15/28 | 323680 |
| Carnival Corp. | Carnival Corp. | Carnival Corp. | Carnival Corp. |
| 2305000 | 5.750 | 03/15/30 | 2339921 |
| 1795000 | 6.125 | 02/15/33 | 1825766 |
| Carnival PLC | Carnival PLC | Carnival PLC | Carnival PLC |
| 2443000 | 4.125 | 07/15/31 | 2830076 |
| MajorDrive Holdings IV LLC | MajorDrive Holdings IV LLC | MajorDrive Holdings IV LLC | MajorDrive Holdings IV LLC |
| 3765000 | 6.375 | 06/01/29 | 3109062 |
| NCL Corp. Ltd. | NCL Corp. Ltd. | NCL Corp. Ltd. | NCL Corp. Ltd. |
| 1875000 | 6.750 | 02/01/32 | 1925944 |
| Royal Caribbean Cruises Ltd. | Royal Caribbean Cruises Ltd. | Royal Caribbean Cruises Ltd. | Royal Caribbean Cruises Ltd. |
| 2425000 | 5.625 | 09/30/31 | 2442897 |
| 4121000 | 6.250 | 03/15/32 | 4226662 |
|  |  |  | 19024008 |
| **Lodging** – **0.5%** | **Lodging** – **0.5%** | **Lodging** – **0.5%** | **Lodging** – **0.5%** |
| Genting New York LLC/GENNY Capital, Inc.<sup>(a)(b)</sup> | Genting New York LLC/GENNY Capital, Inc.<sup>(a)(b)</sup> | Genting New York LLC/GENNY Capital, Inc.<sup>(a)(b)</sup> | Genting New York LLC/GENNY Capital, Inc.<sup>(a)(b)</sup> |
| 4225000 | 7.250 | 10/01/29 | 4353693 |
| Hilton Grand Vacations Borrower LLC/Hilton Grand Vacations Borrower, Inc.<sup>(a)(b)</sup> | Hilton Grand Vacations Borrower LLC/Hilton Grand Vacations Borrower, Inc.<sup>(a)(b)</sup> | Hilton Grand Vacations Borrower LLC/Hilton Grand Vacations Borrower, Inc.<sup>(a)(b)</sup> | Hilton Grand Vacations Borrower LLC/Hilton Grand Vacations Borrower, Inc.<sup>(a)(b)</sup> |
| 3640000 | 5.000 | 06/01/29 | 3482643 |
| Las Vegas Sands Corp.<sup>(a)</sup>  | Las Vegas Sands Corp.<sup>(a)</sup>  | Las Vegas Sands Corp.<sup>(a)</sup>  | Las Vegas Sands Corp.<sup>(a)</sup>  |
| 170000 | 6.000 | 06/14/30 | 174642 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal**<br> **Amount** | **Interest**<br> **Rate** | **Maturity**<br> **Date** | **Value** |
| **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** |
| **Lodging** – **(continued)** | **Lodging** – **(continued)** | **Lodging** – **(continued)** | **Lodging** – **(continued)** |
| Melco Resorts Finance Ltd.<sup>(a)</sup>  | Melco Resorts Finance Ltd.<sup>(a)</sup>  | Melco Resorts Finance Ltd.<sup>(a)</sup>  | Melco Resorts Finance Ltd.<sup>(a)</sup>  |
| 430000 | 5.625% | 07/17/27 | $428925 |
| 1360000 | 7.625 <sup>(b)</sup> | 04/17/32 | 1395700 |
| MGM Resorts International<sup>(a)</sup> | MGM Resorts International<sup>(a)</sup> | MGM Resorts International<sup>(a)</sup> | MGM Resorts International<sup>(a)</sup> |
| 1757000 | 4.750 | 10/15/28 | 1734897 |
| Travel & Leisure Co.<sup>(a)(b)</sup> | Travel & Leisure Co.<sup>(a)(b)</sup> | Travel & Leisure Co.<sup>(a)(b)</sup> | Travel & Leisure Co.<sup>(a)(b)</sup> |
| 573000 | 6.625 | 07/31/26 | 577366 |
| Wynn Macau Ltd.<sup>(b)(g)</sup> | Wynn Macau Ltd.<sup>(b)(g)</sup> | Wynn Macau Ltd.<sup>(b)(g)</sup> | Wynn Macau Ltd.<sup>(b)(g)</sup> |
| 310000 | 4.500 | 03/07/29 | 319920 |
|  |  |  | 12467786 |
| **Machinery - Construction & Mining<sup>(a)(b)</sup>** – **0.2%** | **Machinery - Construction & Mining<sup>(a)(b)</sup>** – **0.2%** | **Machinery - Construction & Mining<sup>(a)(b)</sup>** – **0.2%** | **Machinery - Construction & Mining<sup>(a)(b)</sup>** – **0.2%** |
| BWX Technologies, Inc. | BWX Technologies, Inc. | BWX Technologies, Inc. | BWX Technologies, Inc. |
| 983000 | 4.125 | 06/30/28 | 951396 |
| Terex Corp. | Terex Corp. | Terex Corp. | Terex Corp. |
| 1015000 | 6.250 | 10/15/32 | 1016492 |
| Vertiv Group Corp. | Vertiv Group Corp. | Vertiv Group Corp. | Vertiv Group Corp. |
| 2836000 | 4.125 | 11/15/28 | 2757046 |
|  |  |  | 4724934 |
| **Machinery-Diversified<sup>(a)(b)</sup>** – **0.2%** | **Machinery-Diversified<sup>(a)(b)</sup>** – **0.2%** | **Machinery-Diversified<sup>(a)(b)</sup>** – **0.2%** | **Machinery-Diversified<sup>(a)(b)</sup>** – **0.2%** |
| Chart Industries, Inc. | Chart Industries, Inc. | Chart Industries, Inc. | Chart Industries, Inc. |
| 1665000 | 7.500 | 01/01/30 | 1744237 |
| Husky Injection Molding Systems Ltd./Titan Co-Borrower LLC | Husky Injection Molding Systems Ltd./Titan Co-Borrower LLC | Husky Injection Molding Systems Ltd./Titan Co-Borrower LLC | Husky Injection Molding Systems Ltd./Titan Co-Borrower LLC |
| 2935000 | 9.000 | 02/15/29 | 3028451 |
|  |  |  | 4772688 |
| **Media<sup>(a)</sup>** – **2.2%** | **Media<sup>(a)</sup>** – **2.2%** | **Media<sup>(a)</sup>** – **2.2%** | **Media<sup>(a)</sup>** – **2.2%** |
| AMC Networks, Inc.<sup>(b)</sup> | AMC Networks, Inc.<sup>(b)</sup> | AMC Networks, Inc.<sup>(b)</sup> | AMC Networks, Inc.<sup>(b)</sup> |
| 980000 | 10.250 | 01/15/29 | 1007048 |
| CCO Holdings LLC/CCO Holdings Capital Corp.<sup>(b)</sup> | CCO Holdings LLC/CCO Holdings Capital Corp.<sup>(b)</sup> | CCO Holdings LLC/CCO Holdings Capital Corp.<sup>(b)</sup> | CCO Holdings LLC/CCO Holdings Capital Corp.<sup>(b)</sup> |
| 4780000 | 4.750 | 03/01/30 | 4540570 |
| 5885000 | 4.250 | 02/01/31 | 5370298 |
| 4605000 | 4.750 | 02/01/32 | 4252441 |
| Charter Communications Operating LLC/Charter Communications Operating Capital | Charter Communications Operating LLC/Charter Communications Operating Capital | Charter Communications Operating LLC/Charter Communications Operating Capital | Charter Communications Operating LLC/Charter Communications Operating Capital |
| 11515000 | 6.384 | 10/23/35 | 11926776 |
| Cumulus Media New Holdings, Inc.<sup>(b)</sup> | Cumulus Media New Holdings, Inc.<sup>(b)</sup> | Cumulus Media New Holdings, Inc.<sup>(b)</sup> | Cumulus Media New Holdings, Inc.<sup>(b)</sup> |
| 2205000 | 8.000 | 07/01/29 | 577798 |
| Directv Financing LLC/Directv Financing Co-Obligor, Inc.<sup>(b)</sup> | Directv Financing LLC/Directv Financing Co-Obligor, Inc.<sup>(b)</sup> | Directv Financing LLC/Directv Financing Co-Obligor, Inc.<sup>(b)</sup> | Directv Financing LLC/Directv Financing Co-Obligor, Inc.<sup>(b)</sup> |
| 5735000 | 5.875 | 08/15/27 | 5700361 |
| DISH DBS Corp.<sup>(b)</sup> | DISH DBS Corp.<sup>(b)</sup> | DISH DBS Corp.<sup>(b)</sup> | DISH DBS Corp.<sup>(b)</sup> |
| 1650000 | 5.250 | 12/01/26 | 1551940 |
| DISH Network Corp.<sup>(b)</sup> | DISH Network Corp.<sup>(b)</sup> | DISH Network Corp.<sup>(b)</sup> | DISH Network Corp.<sup>(b)</sup> |
| 1740000 | 11.750 | 11/15/27 | 1811705 |
| Gray Media, Inc.<sup>(b)</sup> | Gray Media, Inc.<sup>(b)</sup> | Gray Media, Inc.<sup>(b)</sup> | Gray Media, Inc.<sup>(b)</sup> |
| 758000 | 7.250 | 08/15/33 | 754104 |
| iHeartCommunications, Inc.<sup>(b)</sup> | iHeartCommunications, Inc.<sup>(b)</sup> | iHeartCommunications, Inc.<sup>(b)</sup> | iHeartCommunications, Inc.<sup>(b)</sup> |
| 2174000 | 10.875 | 05/01/30 | 1087435 |
| 420000 | 7.000 | 01/15/31 | 317176 |
| News Corp.<sup>(b)</sup> | News Corp.<sup>(b)</sup> | News Corp.<sup>(b)</sup> | News Corp.<sup>(b)</sup> |
| 2370000 | 3.875 | 05/15/29 | 2265175 |
| Nexstar Media, Inc.<sup>(b)</sup> | Nexstar Media, Inc.<sup>(b)</sup> | Nexstar Media, Inc.<sup>(b)</sup> | Nexstar Media, Inc.<sup>(b)</sup> |
| 1440000 | 5.625 | 07/15/27 | 1437509 |

---

------

GOLDMAN SACHS INCOME BUILDER FUND

*July 31, 2025 (Unaudited)* 

---

| | | | |
|:---|:---|:---|:---|
| **Principal**<br> **Amount** | **Interest**<br> **Rate** | **Maturity**<br> **Date** | **Value** |
| **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** |
| **Media<sup>(a)</sup>** – **(continued)** | **Media<sup>(a)</sup>** – **(continued)** | **Media<sup>(a)</sup>** – **(continued)** | **Media<sup>(a)</sup>** – **(continued)** |
| Sinclair Television Group, Inc.<sup>(b)</sup>  | Sinclair Television Group, Inc.<sup>(b)</sup>  | Sinclair Television Group, Inc.<sup>(b)</sup>  | Sinclair Television Group, Inc.<sup>(b)</sup>  |
| 1160000 | 5.125% | 02/15/27 | $1119968 |
| Sirius XM Radio LLC<sup>(b)</sup> | Sirius XM Radio LLC<sup>(b)</sup> | Sirius XM Radio LLC<sup>(b)</sup> | Sirius XM Radio LLC<sup>(b)</sup> |
| 785000 | 3.125 | 09/01/26 | 767581 |
| 4815000 | 4.000 | 07/15/28 | 4586480 |
| 2170000 | 3.875 | 09/01/31 | 1914743 |
| TEGNA, Inc. | TEGNA, Inc. | TEGNA, Inc. | TEGNA, Inc. |
| 2205000 | 4.625 | 03/15/28 | 2154902 |
| Telecomunicaciones Digitales SA | Telecomunicaciones Digitales SA | Telecomunicaciones Digitales SA | Telecomunicaciones Digitales SA |
| 560000 | 4.500 | 01/30/30 | 522200 |
| Univision Communications, Inc.<sup>(b)</sup> | Univision Communications, Inc.<sup>(b)</sup> | Univision Communications, Inc.<sup>(b)</sup> | Univision Communications, Inc.<sup>(b)</sup> |
| 1600000 | 9.375 | 08/01/32 | 1660224 |
| Ziggo Bond Co. BV<sup>(b)</sup>  | Ziggo Bond Co. BV<sup>(b)</sup>  | Ziggo Bond Co. BV<sup>(b)</sup>  | Ziggo Bond Co. BV<sup>(b)</sup>  |
| 675000 | 3.375 | 02/28/30 | 666765 |
| Ziggo BV<sup>(b)</sup>  | Ziggo BV<sup>(b)</sup>  | Ziggo BV<sup>(b)</sup>  | Ziggo BV<sup>(b)</sup>  |
| 1628000 | 4.875 | 01/15/30 | 1502481 |
|  |  |  | 57495680 |
| **Mining** – **0.5%** | **Mining** – **0.5%** | **Mining** – **0.5%** | **Mining** – **0.5%** |
| Constellium SE<sup>(a)(b)</sup> | Constellium SE<sup>(a)(b)</sup> | Constellium SE<sup>(a)(b)</sup> | Constellium SE<sup>(a)(b)</sup> |
| 2585000 | 3.750 | 04/15/29 | 2426565 |
| Endeavour Mining PLC<sup>(a)(b)</sup> | Endeavour Mining PLC<sup>(a)(b)</sup> | Endeavour Mining PLC<sup>(a)(b)</sup> | Endeavour Mining PLC<sup>(a)(b)</sup> |
| 200000 | 7.000 | 05/28/30 | 203376 |
| First Quantum Minerals Ltd.<sup>(a)(b)</sup> | First Quantum Minerals Ltd.<sup>(a)(b)</sup> | First Quantum Minerals Ltd.<sup>(a)(b)</sup> | First Quantum Minerals Ltd.<sup>(a)(b)</sup> |
| 260000 | 6.875 | 10/15/27 | 259675 |
| 250000 | 8.625 | 06/01/31 | 259375 |
| 235000 | 8.000 | 03/01/33 | 242050 |
| Freeport-McMoRan, Inc.<sup>(a)</sup> | Freeport-McMoRan, Inc.<sup>(a)</sup> | Freeport-McMoRan, Inc.<sup>(a)</sup> | Freeport-McMoRan, Inc.<sup>(a)</sup> |
| 1920000 | 5.400 | 11/14/34 | 1939642 |
| Glencore Finance Canada Ltd.<sup>(b)</sup> | Glencore Finance Canada Ltd.<sup>(b)</sup> | Glencore Finance Canada Ltd.<sup>(b)</sup> | Glencore Finance Canada Ltd.<sup>(b)</sup> |
| 2880000 | 5.550 | 10/25/42 | 2750170 |
| Glencore Funding LLC<sup>(a)(b)</sup> | Glencore Funding LLC<sup>(a)(b)</sup> | Glencore Funding LLC<sup>(a)(b)</sup> | Glencore Funding LLC<sup>(a)(b)</sup> |
| 2855000 | 2.850 | 04/27/31 | 2568558 |
| Navoi Mining & Metallurgical Combinat<sup>(b)</sup> | Navoi Mining & Metallurgical Combinat<sup>(b)</sup> | Navoi Mining & Metallurgical Combinat<sup>(b)</sup> | Navoi Mining & Metallurgical Combinat<sup>(b)</sup> |
| 200000 | 6.700 | 10/17/28 | 204876 |
| 200000 | 6.950 | 10/17/31 | 206626 |
| Novelis Corp.<sup>(a)(b)</sup> | Novelis Corp.<sup>(a)(b)</sup> | Novelis Corp.<sup>(a)(b)</sup> | Novelis Corp.<sup>(a)(b)</sup> |
| 2305000 | 4.750 | 01/30/30 | 2208351 |
| 630000 | 6.875 | 01/30/30 | 648730 |
| Vedanta Resources Finance II PLC<sup>(a)(b)</sup> | Vedanta Resources Finance II PLC<sup>(a)(b)</sup> | Vedanta Resources Finance II PLC<sup>(a)(b)</sup> | Vedanta Resources Finance II PLC<sup>(a)(b)</sup> |
| 400000 | 11.250 | 12/03/31 | 416500 |
|  |  |  | 14334494 |
| **Miscellaneous Manufacturing<sup>(a)</sup>** – **0.2%** | **Miscellaneous Manufacturing<sup>(a)</sup>** – **0.2%** | **Miscellaneous Manufacturing<sup>(a)</sup>** – **0.2%** | **Miscellaneous Manufacturing<sup>(a)</sup>** – **0.2%** |
| Amsted Industries, Inc.<sup>(b)</sup> | Amsted Industries, Inc.<sup>(b)</sup> | Amsted Industries, Inc.<sup>(b)</sup> | Amsted Industries, Inc.<sup>(b)</sup> |
| 580000 | 6.375 | 03/15/33 | 588694 |
| Axon Enterprise, Inc.<sup>(b)</sup> | Axon Enterprise, Inc.<sup>(b)</sup> | Axon Enterprise, Inc.<sup>(b)</sup> | Axon Enterprise, Inc.<sup>(b)</sup> |
| 755000 | 6.125 | 03/15/30 | 772509 |
| 770000 | 6.250 | 03/15/33 | 789627 |
| Hillenbrand, Inc. | Hillenbrand, Inc. | Hillenbrand, Inc. | Hillenbrand, Inc. |
| 1090000 | 6.250 | 02/15/29 | 1104704 |
| 1294000 | 3.750 | 03/01/31 | 1159463 |
|  |  |  | 4414997 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal**<br> **Amount** | **Interest**<br> **Rate** | **Maturity**<br> **Date** | **Value** |
| **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** |
| **Office & Business Equipment<sup>(a)(b)</sup>** – **0.0%** | **Office & Business Equipment<sup>(a)(b)</sup>** – **0.0%** | **Office & Business Equipment<sup>(a)(b)</sup>** – **0.0%** | **Office & Business Equipment<sup>(a)(b)</sup>** – **0.0%** |
| Xerox Holdings Corp. | Xerox Holdings Corp. | Xerox Holdings Corp. | Xerox Holdings Corp. |
| 271000 | 5.000% | 08/15/25 | $270599 |
| **Oil Field Services** – **3.2%** | **Oil Field Services** – **3.2%** | **Oil Field Services** – **3.2%** | **Oil Field Services** – **3.2%** |
| Aethon United BR LP/Aethon United Finance Corp.<sup>(a)(b)</sup> | Aethon United BR LP/Aethon United Finance Corp.<sup>(a)(b)</sup> | Aethon United BR LP/Aethon United Finance Corp.<sup>(a)(b)</sup> | Aethon United BR LP/Aethon United Finance Corp.<sup>(a)(b)</sup> |
| 928000 | 7.500 | 10/01/29 | 972024 |
| Archrock Partners LP/Archrock Partners Finance Corp.<sup>(a)(b)</sup> | Archrock Partners LP/Archrock Partners Finance Corp.<sup>(a)(b)</sup> | Archrock Partners LP/Archrock Partners Finance Corp.<sup>(a)(b)</sup> | Archrock Partners LP/Archrock Partners Finance Corp.<sup>(a)(b)</sup> |
| 1680000 | 6.625 | 09/01/32 | 1705250 |
| Aris Water Holdings LLC<sup>(a)(b)</sup> | Aris Water Holdings LLC<sup>(a)(b)</sup> | Aris Water Holdings LLC<sup>(a)(b)</sup> | Aris Water Holdings LLC<sup>(a)(b)</sup> |
| 1485000 | 7.250 | 04/01/30 | 1523862 |
| Azule Energy Finance PLC<sup>(a)(b)</sup> | Azule Energy Finance PLC<sup>(a)(b)</sup> | Azule Energy Finance PLC<sup>(a)(b)</sup> | Azule Energy Finance PLC<sup>(a)(b)</sup> |
| 750000 | 8.125 | 01/23/30 | 753300 |
| California Resources Corp.<sup>(a)(b)</sup> | California Resources Corp.<sup>(a)(b)</sup> | California Resources Corp.<sup>(a)(b)</sup> | California Resources Corp.<sup>(a)(b)</sup> |
| 396000 | 7.125 | 02/01/26 | 396131 |
| Chesapeake Energy Corp.<sup>(h)</sup> | Chesapeake Energy Corp.<sup>(h)</sup> | Chesapeake Energy Corp.<sup>(h)</sup> | Chesapeake Energy Corp.<sup>(h)</sup> |
| 2000000 | 5.500 | 09/15/26 | 6600 |
| Chord Energy Corp.<sup>(a)(b)</sup> | Chord Energy Corp.<sup>(a)(b)</sup> | Chord Energy Corp.<sup>(a)(b)</sup> | Chord Energy Corp.<sup>(a)(b)</sup> |
| 1860000 | 6.750 | 03/15/33 | 1896828 |
| Civitas Resources, Inc.<sup>(a)(b)</sup> | Civitas Resources, Inc.<sup>(a)(b)</sup> | Civitas Resources, Inc.<sup>(a)(b)</sup> | Civitas Resources, Inc.<sup>(a)(b)</sup> |
| 1265000 | 8.375 | 07/01/28 | 1302381 |
| 925000 | 9.625 | 06/15/33 | 951187 |
| CNX Resources Corp.<sup>(a)(b)</sup> | CNX Resources Corp.<sup>(a)(b)</sup> | CNX Resources Corp.<sup>(a)(b)</sup> | CNX Resources Corp.<sup>(a)(b)</sup> |
| 1865000 | 7.250 | 03/01/32 | 1920931 |
| Continental Resources, Inc.<sup>(a)(b)</sup> | Continental Resources, Inc.<sup>(a)(b)</sup> | Continental Resources, Inc.<sup>(a)(b)</sup> | Continental Resources, Inc.<sup>(a)(b)</sup> |
| 1251000 | 5.750 | 01/15/31 | 1257468 |
| Crescent Energy Finance LLC<sup>(a)(b)</sup> | Crescent Energy Finance LLC<sup>(a)(b)</sup> | Crescent Energy Finance LLC<sup>(a)(b)</sup> | Crescent Energy Finance LLC<sup>(a)(b)</sup> |
| 455000 | 7.625 | 04/01/32 | 444772 |
| 5345000 | 7.375 | 01/15/33 | 5117410 |
| DNO ASA<sup>(a)</sup> | DNO ASA<sup>(a)</sup> | DNO ASA<sup>(a)</sup> | DNO ASA<sup>(a)</sup> |
| 330000 | 9.250 | 06/04/29 | 341385 |
| 890000 | 8.500 | 03/27/30 | 908690 |
| Ecopetrol SA<sup>(a)</sup> | Ecopetrol SA<sup>(a)</sup> | Ecopetrol SA<sup>(a)</sup> | Ecopetrol SA<sup>(a)</sup> |
| 110000 | 8.625 | 01/19/29 | 118080 |
| 60000 | 6.875 | 04/29/30 | 60078 |
| 270000 | 5.875 | 11/02/51 | 184410 |
| EQT Corp.<sup>(a)(b)</sup> | EQT Corp.<sup>(a)(b)</sup> | EQT Corp.<sup>(a)(b)</sup> | EQT Corp.<sup>(a)(b)</sup> |
| 2210000 | 7.500 | 06/01/27 | 2248984 |
| 1835000 | 3.625 | 05/15/31 | 1700917 |
| Expand Energy Corp.<sup>(a)</sup> | Expand Energy Corp.<sup>(a)</sup> | Expand Energy Corp.<sup>(a)</sup> | Expand Energy Corp.<sup>(a)</sup> |
| 1385000 | 4.750 | 02/01/32 | 1345195 |
| Guara Norte SARL | Guara Norte SARL | Guara Norte SARL | Guara Norte SARL |
| 499389 | 5.198 | 06/15/34 | 480112 |
| Hunt Oil Co. of Peru LLC Sucursal Del Peru<sup>(a)(b)</sup> | Hunt Oil Co. of Peru LLC Sucursal Del Peru<sup>(a)(b)</sup> | Hunt Oil Co. of Peru LLC Sucursal Del Peru<sup>(a)(b)</sup> | Hunt Oil Co. of Peru LLC Sucursal Del Peru<sup>(a)(b)</sup> |
| 460000 | 7.750 | 11/05/38 | 486082 |
| Kodiak Gas Services LLC<sup>(a)(b)</sup> | Kodiak Gas Services LLC<sup>(a)(b)</sup> | Kodiak Gas Services LLC<sup>(a)(b)</sup> | Kodiak Gas Services LLC<sup>(a)(b)</sup> |
| 3670000 | 7.250 | 02/15/29 | 3764172 |
| Kosmos Energy Ltd.<sup>(a)(b)</sup> | Kosmos Energy Ltd.<sup>(a)(b)</sup> | Kosmos Energy Ltd.<sup>(a)(b)</sup> | Kosmos Energy Ltd.<sup>(a)(b)</sup> |
| 910000 | 8.750 | 10/01/31 | 702065 |
| Lukoil Securities BV | Lukoil Securities BV | Lukoil Securities BV | Lukoil Securities BV |
| 250000 | 3.875 | 05/06/30 | 180000 |
| Matador Resources Co.<sup>(a)(b)</sup> | Matador Resources Co.<sup>(a)(b)</sup> | Matador Resources Co.<sup>(a)(b)</sup> | Matador Resources Co.<sup>(a)(b)</sup> |
| 2680000 | 6.875 | 04/15/28 | 2723068 |
| 1340000 | 6.500 | 04/15/32 | 1342211 |
| 1900000 | 6.250 | 04/15/33 | 1881741 |

---

------

GOLDMAN SACHS INCOME BUILDER FUND

*July 31, 2025 (Unaudited)* 

---

| | | | |
|:---|:---|:---|:---|
| **Principal**<br> **Amount** | **Interest**<br> **Rate** | **Maturity**<br> **Date** | **Value** |
| **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** |
| **Oil Field Services** – **(continued)** | **Oil Field Services** – **(continued)** | **Oil Field Services** – **(continued)** | **Oil Field Services** – **(continued)** |
| MEG Energy Corp.<sup>(a)(b)</sup>  | MEG Energy Corp.<sup>(a)(b)</sup>  | MEG Energy Corp.<sup>(a)(b)</sup>  | MEG Energy Corp.<sup>(a)(b)</sup>  |
| 1200000 | 5.875% | 02/01/29 | $1200312 |
| Murphy Oil Corp.<sup>(a)</sup> | Murphy Oil Corp.<sup>(a)</sup> | Murphy Oil Corp.<sup>(a)</sup> | Murphy Oil Corp.<sup>(a)</sup> |
| 1388000 | 6.000 | 10/01/32 | 1330426 |
| Noble Finance II LLC<sup>(a)(b)</sup> | Noble Finance II LLC<sup>(a)(b)</sup> | Noble Finance II LLC<sup>(a)(b)</sup> | Noble Finance II LLC<sup>(a)(b)</sup> |
| 3665000 | 8.000 | 04/15/30 | 3728588 |
| Occidental Petroleum Corp.<sup>(a)</sup> | Occidental Petroleum Corp.<sup>(a)</sup> | Occidental Petroleum Corp.<sup>(a)</sup> | Occidental Petroleum Corp.<sup>(a)</sup> |
| 2445000 | 6.625 | 09/01/30 | 2580575 |
| Permian Resources Operating LLC<sup>(a)(b)</sup> | Permian Resources Operating LLC<sup>(a)(b)</sup> | Permian Resources Operating LLC<sup>(a)(b)</sup> | Permian Resources Operating LLC<sup>(a)(b)</sup> |
| 1038000 | 5.875 | 07/01/29 | 1038073 |
| 980000 | 7.000 | 01/15/32 | 1012575 |
| 1180000 | 6.250 | 02/01/33 | 1184897 |
| Petroleos Mexicanos | Petroleos Mexicanos | Petroleos Mexicanos | Petroleos Mexicanos |
| 96000 | 6.490 <sup>(a)</sup> | 01/23/27 | 96000 |
| 428000 | 6.500 | 03/13/27 | 427884 |
| 550000 | 5.350 | 02/12/28 | 535398 |
| Pluspetrol SA<sup>(a)(b)</sup> | Pluspetrol SA<sup>(a)(b)</sup> | Pluspetrol SA<sup>(a)(b)</sup> | Pluspetrol SA<sup>(a)(b)</sup> |
| 200000 | 8.500 | 05/30/32 | 203375 |
| Raizen Fuels Finance SA<sup>(a)</sup> | Raizen Fuels Finance SA<sup>(a)</sup> | Raizen Fuels Finance SA<sup>(a)</sup> | Raizen Fuels Finance SA<sup>(a)</sup> |
| 200000 | 5.700 | 01/17/35 | 186300 |
| 320000 | 6.700 <sup>(b)</sup> | 02/25/37 | 311296 |
| 260000 | 6.950 <sup>(b)</sup> | 03/05/54 | 242840 |
| SEPLAT Energy PLC<sup>(a)(b)</sup> | SEPLAT Energy PLC<sup>(a)(b)</sup> | SEPLAT Energy PLC<sup>(a)(b)</sup> | SEPLAT Energy PLC<sup>(a)(b)</sup> |
| 1110000 | 9.125 | 03/21/30 | 1140525 |
| ShaMaran Petroleum Corp.<sup>(a)</sup> | ShaMaran Petroleum Corp.<sup>(a)</sup> | ShaMaran Petroleum Corp.<sup>(a)</sup> | ShaMaran Petroleum Corp.<sup>(a)</sup> |
| 201813 | 12.000 | 07/30/29 | 207174 |
| Sitio Royalties Operating Partnership LP/Sitio Finance Corp.<sup>(a)(b)</sup> | Sitio Royalties Operating Partnership LP/Sitio Finance Corp.<sup>(a)(b)</sup> | Sitio Royalties Operating Partnership LP/Sitio Finance Corp.<sup>(a)(b)</sup> | Sitio Royalties Operating Partnership LP/Sitio Finance Corp.<sup>(a)(b)</sup> |
| 3917000 | 7.875 | 11/01/28 | 4086880 |
| SM Energy Co.<sup>(a)(b)</sup> | SM Energy Co.<sup>(a)(b)</sup> | SM Energy Co.<sup>(a)(b)</sup> | SM Energy Co.<sup>(a)(b)</sup> |
| 935000 | 6.750 | 08/01/29 | 935729 |
| 1495000 | 7.000 | 08/01/32 | 1480050 |
| Sunoco LP<sup>(a)(b)</sup> | Sunoco LP<sup>(a)(b)</sup> | Sunoco LP<sup>(a)(b)</sup> | Sunoco LP<sup>(a)(b)</sup> |
| 1280000 | 7.000 | 05/01/29 | 1329216 |
| 980000 | 7.250 | 05/01/32 | 1027491 |
| Sunoco LP/Sunoco Finance Corp.<sup>(a)</sup> | Sunoco LP/Sunoco Finance Corp.<sup>(a)</sup> | Sunoco LP/Sunoco Finance Corp.<sup>(a)</sup> | Sunoco LP/Sunoco Finance Corp.<sup>(a)</sup> |
| 6685000 | 4.500 | 05/15/29 | 6467470 |
| TechnipFMC PLC<sup>(a)(b)</sup> | TechnipFMC PLC<sup>(a)(b)</sup> | TechnipFMC PLC<sup>(a)(b)</sup> | TechnipFMC PLC<sup>(a)(b)</sup> |
| 3490000 | 6.500 | 02/01/26 | 3488813 |
| Tengizchevroil Finance Co. International Ltd.<sup>(a)</sup> | Tengizchevroil Finance Co. International Ltd.<sup>(a)</sup> | Tengizchevroil Finance Co. International Ltd.<sup>(a)</sup> | Tengizchevroil Finance Co. International Ltd.<sup>(a)</sup> |
| 830000 | 2.625 | 08/15/25 | 825933 |
| Tidewater, Inc.<sup>(a)(b)</sup> | Tidewater, Inc.<sup>(a)(b)</sup> | Tidewater, Inc.<sup>(a)(b)</sup> | Tidewater, Inc.<sup>(a)(b)</sup> |
| 2600000 | 9.125 | 07/15/30 | 2726152 |
| Transocean Poseidon Ltd.<sup>(a)(b)</sup> | Transocean Poseidon Ltd.<sup>(a)(b)</sup> | Transocean Poseidon Ltd.<sup>(a)(b)</sup> | Transocean Poseidon Ltd.<sup>(a)(b)</sup> |
| 525525 | 6.875 | 02/01/27 | 525578 |
| Transocean Titan Financing Ltd.<sup>(a)(b)</sup> | Transocean Titan Financing Ltd.<sup>(a)(b)</sup> | Transocean Titan Financing Ltd.<sup>(a)(b)</sup> | Transocean Titan Financing Ltd.<sup>(a)(b)</sup> |
| 705714 | 8.375 | 02/01/28 | 723590 |
| Transocean, Inc.<sup>(a)(b)</sup> | Transocean, Inc.<sup>(a)(b)</sup> | Transocean, Inc.<sup>(a)(b)</sup> | Transocean, Inc.<sup>(a)(b)</sup> |
| 1250000 | 8.250 | 05/15/29 | 1181150 |
| 276000 | 8.750 | 02/15/30 | 286052 |
| 1260000 | 8.500 | 05/15/31 | 1159502 |
| USA Compression Partners LP/USA Compression Finance Corp.<sup>(a)(b)</sup> | USA Compression Partners LP/USA Compression Finance Corp.<sup>(a)(b)</sup> | USA Compression Partners LP/USA Compression Finance Corp.<sup>(a)(b)</sup> | USA Compression Partners LP/USA Compression Finance Corp.<sup>(a)(b)</sup> |
| 2210000 | 7.125 | 03/15/29 | 2259305 |
| Vista Energy Argentina SAU<sup>(a)</sup> | Vista Energy Argentina SAU<sup>(a)</sup> | Vista Energy Argentina SAU<sup>(a)</sup> | Vista Energy Argentina SAU<sup>(a)</sup> |
| 360000 | 7.625 | 12/10/35 | 351882 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal**<br> **Amount** | **Interest**<br> **Rate** | **Maturity**<br> **Date** | **Value** |
| **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** |
| **Oil Field Services** – **(continued)** | **Oil Field Services** – **(continued)** | **Oil Field Services** – **(continued)** | **Oil Field Services** – **(continued)** |
| Wildfire Intermediate Holdings LLC<sup>(a)(b)</sup>  | Wildfire Intermediate Holdings LLC<sup>(a)(b)</sup>  | Wildfire Intermediate Holdings LLC<sup>(a)(b)</sup>  | Wildfire Intermediate Holdings LLC<sup>(a)(b)</sup>  |
| 925000 | 7.500% | 10/15/29 | $921022 |
| YPF SA<sup>(a)(b)</sup> | YPF SA<sup>(a)(b)</sup> | YPF SA<sup>(a)(b)</sup> | YPF SA<sup>(a)(b)</sup> |
| 180000 | 9.500 | 01/17/31 | 189956 |
| 190000 | 8.250 | 01/17/34 | 191330 |
|  |  |  | 82298673 |
| **Packaging** – **0.6%** | **Packaging** – **0.6%** | **Packaging** – **0.6%** | **Packaging** – **0.6%** |
| ARD Finance SA<sup>(a)(c)</sup> (PIK 5.750%, Cash 5.000%) | ARD Finance SA<sup>(a)(c)</sup> (PIK 5.750%, Cash 5.000%) | ARD Finance SA<sup>(a)(c)</sup> (PIK 5.750%, Cash 5.000%) | ARD Finance SA<sup>(a)(c)</sup> (PIK 5.750%, Cash 5.000%) |
| 2802736 | 5.000 | 06/30/27 | 132801 |
| (PIK 7.250%, Cash 6.500%) | (PIK 7.250%, Cash 6.500%) | (PIK 7.250%, Cash 6.500%) | (PIK 7.250%, Cash 6.500%) |
| 2179842 | 6.500 <sup>(b)</sup> | 06/30/27 | 159085 |
| Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC<sup>(a)</sup> | Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC<sup>(a)</sup> | Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC<sup>(a)</sup> | Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC<sup>(a)</sup> |
| 523000 | 6.000 <sup>(b)</sup> | 06/15/27 | 523528 |
| 2426000 | 3.000 | 09/01/29 | 2505316 |
| 1463000 | 4.000 <sup>(b)</sup> | 09/01/29 | 1332266 |
| Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc.<sup>(a)(b)</sup> | Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc.<sup>(a)(b)</sup> | Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc.<sup>(a)(b)</sup> | Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc.<sup>(a)(b)</sup> |
| 3095000 | 5.250 | 08/15/27 | 1532335 |
| Ball Corp. <sup>(a)</sup> | Ball Corp. <sup>(a)</sup> | Ball Corp. <sup>(a)</sup> | Ball Corp. <sup>(a)</sup> |
| 3735000 | 6.000 | 06/15/29 | 3801744 |
| Efesto Bidco SpA Efesto U.S. LLC<sup>(a)(b)</sup> | Efesto Bidco SpA Efesto U.S. LLC<sup>(a)(b)</sup> | Efesto Bidco SpA Efesto U.S. LLC<sup>(a)(b)</sup> | Efesto Bidco SpA Efesto U.S. LLC<sup>(a)(b)</sup> |
| 2523000 | 7.500 | 02/15/32 | 2582770 |
| LABL, Inc.<sup>(a)(b)</sup> | LABL, Inc.<sup>(a)(b)</sup> | LABL, Inc.<sup>(a)(b)</sup> | LABL, Inc.<sup>(a)(b)</sup> |
| 755000 | 8.625 | 10/01/31 | 626401 |
| SAN Miguel Industrias Pet SA/NG PET R&P Latin America SA<sup>(a)(b)</sup> | SAN Miguel Industrias Pet SA/NG PET R&P Latin America SA<sup>(a)(b)</sup> | SAN Miguel Industrias Pet SA/NG PET R&P Latin America SA<sup>(a)(b)</sup> | SAN Miguel Industrias Pet SA/NG PET R&P Latin America SA<sup>(a)(b)</sup> |
| 290000 | 3.750 | 08/02/28 | 273870 |
| Sealed Air Corp.<sup>(b)</sup> | Sealed Air Corp.<sup>(b)</sup> | Sealed Air Corp.<sup>(b)</sup> | Sealed Air Corp.<sup>(b)</sup> |
| 1768000 | 6.875 | 07/15/33 | 1887835 |
|  |  |  | 15357951 |
| **Pharmaceuticals<sup>(a)</sup>** – **0.8%** | **Pharmaceuticals<sup>(a)</sup>** – **0.8%** | **Pharmaceuticals<sup>(a)</sup>** – **0.8%** | **Pharmaceuticals<sup>(a)</sup>** – **0.8%** |
| 1261229 BC Ltd.<sup>(b)</sup> | 1261229 BC Ltd.<sup>(b)</sup> | 1261229 BC Ltd.<sup>(b)</sup> | 1261229 BC Ltd.<sup>(b)</sup> |
| 1395000 | 10.000 | 04/15/32 | 1419971 |
| AdaptHealth LLC<sup>(b)</sup> | AdaptHealth LLC<sup>(b)</sup> | AdaptHealth LLC<sup>(b)</sup> | AdaptHealth LLC<sup>(b)</sup> |
| 1385000 | 6.125 | 08/01/28 | 1379363 |
| 645000 | 4.625 | 08/01/29 | 604513 |
| 980000 | 5.125 | 03/01/30 | 921259 |
| Amneal Pharmaceuticals LLC<sup>(b)</sup> | Amneal Pharmaceuticals LLC<sup>(b)</sup> | Amneal Pharmaceuticals LLC<sup>(b)</sup> | Amneal Pharmaceuticals LLC<sup>(b)</sup> |
| 533000 | 6.875 | 08/01/32 | 540968 |
| CVS Health Corp. | CVS Health Corp. | CVS Health Corp. | CVS Health Corp. |
| 6490000 | 3.750 | 04/01/30 | 6224689 |
| Opal Bidco SAS<sup>(b)</sup> | Opal Bidco SAS<sup>(b)</sup> | Opal Bidco SAS<sup>(b)</sup> | Opal Bidco SAS<sup>(b)</sup> |
| 3650000 | 6.500 | 03/31/32 | 3690807 |
| Organon & Co./Organon Foreign Debt Co-Issuer BV<sup>(b)</sup> | Organon & Co./Organon Foreign Debt Co-Issuer BV<sup>(b)</sup> | Organon & Co./Organon Foreign Debt Co-Issuer BV<sup>(b)</sup> | Organon & Co./Organon Foreign Debt Co-Issuer BV<sup>(b)</sup> |
| 700000 | 4.125 | 04/30/28 | 662214 |
| 1950000 | 5.125 | 04/30/31 | 1686730 |
| Prestige Brands, Inc.<sup>(b)</sup> | Prestige Brands, Inc.<sup>(b)</sup> | Prestige Brands, Inc.<sup>(b)</sup> | Prestige Brands, Inc.<sup>(b)</sup> |
| 1780000 | 3.750 | 04/01/31 | 1629181 |
| Teva Pharmaceutical Finance Netherlands IV BV | Teva Pharmaceutical Finance Netherlands IV BV | Teva Pharmaceutical Finance Netherlands IV BV | Teva Pharmaceutical Finance Netherlands IV BV |
| 1200000 | 5.750 | 12/01/30 | 1217676 |
|  |  |  | 19977371 |

---

------

GOLDMAN SACHS INCOME BUILDER FUND

*July 31, 2025 (Unaudited)* 

---

| | | | |
|:---|:---|:---|:---|
| **Principal**<br> **Amount** | **Interest**<br> **Rate** | **Maturity**<br> **Date** | **Value** |
| **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** |
| **Pipelines** – **4.1%** | **Pipelines** – **4.1%** | **Pipelines** – **4.1%** | **Pipelines** – **4.1%** |
| Acu Petroleo Luxembourg SARL<sup>(a)</sup>  | Acu Petroleo Luxembourg SARL<sup>(a)</sup>  | Acu Petroleo Luxembourg SARL<sup>(a)</sup>  | Acu Petroleo Luxembourg SARL<sup>(a)</sup>  |
| 716198 | 7.500% | 07/13/35 | $721197 |
| Antero Midstream Partners LP/Antero Midstream Finance Corp.<sup>(a)(b)</sup> | Antero Midstream Partners LP/Antero Midstream Finance Corp.<sup>(a)(b)</sup> | Antero Midstream Partners LP/Antero Midstream Finance Corp.<sup>(a)(b)</sup> | Antero Midstream Partners LP/Antero Midstream Finance Corp.<sup>(a)(b)</sup> |
| 2340000 | 6.625 | 02/01/32 | 2402712 |
| Blue Racer Midstream LLC/Blue Racer Finance Corp.<sup>(a)(b)</sup>  | Blue Racer Midstream LLC/Blue Racer Finance Corp.<sup>(a)(b)</sup>  | Blue Racer Midstream LLC/Blue Racer Finance Corp.<sup>(a)(b)</sup>  | Blue Racer Midstream LLC/Blue Racer Finance Corp.<sup>(a)(b)</sup>  |
| 675000 | 7.000 | 07/15/29 | 700056 |
| 680000 | 7.250 | 07/15/32 | 717067 |
| Buckeye Partners LP<sup>(a)</sup>  | Buckeye Partners LP<sup>(a)</sup>  | Buckeye Partners LP<sup>(a)</sup>  | Buckeye Partners LP<sup>(a)</sup>  |
| 889000 | 4.125 | 12/01/27 | 867504 |
| 1167000 | 4.500 <sup>(b)</sup> | 03/01/28 | 1139610 |
| 2245000 | 6.875 <sup>(b)</sup> | 07/01/29 | 2308893 |
| 780000 | 6.750 <sup>(b)</sup> | 02/01/30 | 807940 |
| CNX Midstream PartnersLP<sup>(a)(b)</sup>  | CNX Midstream PartnersLP<sup>(a)(b)</sup>  | CNX Midstream PartnersLP<sup>(a)(b)</sup>  | CNX Midstream PartnersLP<sup>(a)(b)</sup>  |
| 2292000 | 4.750 | 04/15/30 | 2162594 |
| CQP Holdco LP/BIP-V Chinook Holdco LLC<sup>(a)(b)</sup>  | CQP Holdco LP/BIP-V Chinook Holdco LLC<sup>(a)(b)</sup>  | CQP Holdco LP/BIP-V Chinook Holdco LLC<sup>(a)(b)</sup>  | CQP Holdco LP/BIP-V Chinook Holdco LLC<sup>(a)(b)</sup>  |
| 3880000 | 5.500 | 06/15/31 | 3792933 |
| DCP Midstream Operating LP<sup>(b)</sup>  | DCP Midstream Operating LP<sup>(b)</sup>  | DCP Midstream Operating LP<sup>(b)</sup>  | DCP Midstream Operating LP<sup>(b)</sup>  |
| 3840000 | 6.750 | 09/15/37 | 4042291 |
| Delek Logistics Partners LP/Delek Logistics Finance Corp.<sup>(a)(b)</sup>  | Delek Logistics Partners LP/Delek Logistics Finance Corp.<sup>(a)(b)</sup>  | Delek Logistics Partners LP/Delek Logistics Finance Corp.<sup>(a)(b)</sup>  | Delek Logistics Partners LP/Delek Logistics Finance Corp.<sup>(a)(b)</sup>  |
| 1405000 | 8.625 | 03/15/29 | 1461720 |
| 2435000 | 7.375 | 06/30/33 | 2405415 |
| DT Midstream, Inc.<sup>(a)(b)</sup>  | DT Midstream, Inc.<sup>(a)(b)</sup>  | DT Midstream, Inc.<sup>(a)(b)</sup>  | DT Midstream, Inc.<sup>(a)(b)</sup>  |
| 3960000 | 4.375 | 06/15/31 | 3770554 |
| Energy Transfer LP | Energy Transfer LP | Energy Transfer LP | Energy Transfer LP |
| 2865000 | 6.625 | 10/15/36 | 3071509 |
| Enterprise Products Operating LLC<sup>(a)(d)</sup> (3 mo. USD Term SOFR + 3.039%) | Enterprise Products Operating LLC<sup>(a)(d)</sup> (3 mo. USD Term SOFR + 3.039%) | Enterprise Products Operating LLC<sup>(a)(d)</sup> (3 mo. USD Term SOFR + 3.039%) | Enterprise Products Operating LLC<sup>(a)(d)</sup> (3 mo. USD Term SOFR + 3.039%) |
| 960000 | 7.369 | 06/01/67 | 955085 |
| Excelerate Energy LP<sup>(a)(b)</sup>  | Excelerate Energy LP<sup>(a)(b)</sup>  | Excelerate Energy LP<sup>(a)(b)</sup>  | Excelerate Energy LP<sup>(a)(b)</sup>  |
| 1765000 | 8.000 | 05/15/30 | 1848326 |
| Genesis Energy LP/Genesis Energy Finance Corp.<sup>(a)</sup>  | Genesis Energy LP/Genesis Energy Finance Corp.<sup>(a)</sup>  | Genesis Energy LP/Genesis Energy Finance Corp.<sup>(a)</sup>  | Genesis Energy LP/Genesis Energy Finance Corp.<sup>(a)</sup>  |
| 1930000 | 7.750 | 02/01/28 | 1949319 |
| 2700000 | 7.875 | 05/15/32 | 2794149 |
| Global Partners LP/GLP Finance Corp.<sup>(a)</sup>  | Global Partners LP/GLP Finance Corp.<sup>(a)</sup>  | Global Partners LP/GLP Finance Corp.<sup>(a)</sup>  | Global Partners LP/GLP Finance Corp.<sup>(a)</sup>  |
| 3762000 | 6.875 | 01/15/29 | 3811696 |
| Howard Midstream Energy Partners LLC<sup>(a)(b)</sup>  | Howard Midstream Energy Partners LLC<sup>(a)(b)</sup>  | Howard Midstream Energy Partners LLC<sup>(a)(b)</sup>  | Howard Midstream Energy Partners LLC<sup>(a)(b)</sup>  |
| 1550000 | 8.875 | 07/15/28 | 1619951 |
| 1395000 | 7.375 | 07/15/32 | 1442569 |
| Kinder Morgan Energy Partners LP | Kinder Morgan Energy Partners LP | Kinder Morgan Energy Partners LP | Kinder Morgan Energy Partners LP |
| 6715000 | 7.300 | 08/15/33 | 7535640 |
| Kinetik Holdings LP<sup>(a)(b)</sup>  | Kinetik Holdings LP<sup>(a)(b)</sup>  | Kinetik Holdings LP<sup>(a)(b)</sup>  | Kinetik Holdings LP<sup>(a)(b)</sup>  |
| 650000 | 6.625 | 12/15/28 | 663689 |
| 3350000 | 5.875 | 06/15/30 | 3351373 |
| MPLX LP<sup>(a)</sup> | MPLX LP<sup>(a)</sup> | MPLX LP<sup>(a)</sup> | MPLX LP<sup>(a)</sup> |
| 5685000 | 2.650 | 08/15/30 | 5150155 |
| NuStar Logistics LP<sup>(a)</sup>  | NuStar Logistics LP<sup>(a)</sup>  | NuStar Logistics LP<sup>(a)</sup>  | NuStar Logistics LP<sup>(a)</sup>  |
| 2464000 | 6.375 | 10/01/30 | 2539522 |
| Prairie Acquiror LP<sup>(a)(b)</sup>  | Prairie Acquiror LP<sup>(a)(b)</sup>  | Prairie Acquiror LP<sup>(a)(b)</sup>  | Prairie Acquiror LP<sup>(a)(b)</sup>  |
| 3335000 | 9.000 | 08/01/29 | 3457294 |
| Rockies Express Pipeline LLC<sup>(a)(b)</sup>  | Rockies Express Pipeline LLC<sup>(a)(b)</sup>  | Rockies Express Pipeline LLC<sup>(a)(b)</sup>  | Rockies Express Pipeline LLC<sup>(a)(b)</sup>  |
| 1435000 | 6.750 | 03/15/33 | 1488138 |
| Summit Midstream Holdings LLC<sup>(a)(b)</sup>  | Summit Midstream Holdings LLC<sup>(a)(b)</sup>  | Summit Midstream Holdings LLC<sup>(a)(b)</sup>  | Summit Midstream Holdings LLC<sup>(a)(b)</sup>  |
| 4215000 | 8.625 | 10/31/29 | 4289816 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal**<br> **Amount** | **Interest**<br> **Rate** | **Maturity**<br> **Date** | **Value** |
| **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** |
| **Pipelines** – **(continued)** | **Pipelines** – **(continued)** | **Pipelines** – **(continued)** | **Pipelines** – **(continued)** |
| Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp.<sup>(a)(b)</sup> | Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp.<sup>(a)(b)</sup> | Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp.<sup>(a)(b)</sup> | Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp.<sup>(a)(b)</sup> |
| 1795000 | 7.375% | 02/15/29 | $1840898 |
| 505000 | 6.000 | 12/31/30 | 494870 |
| 4305000 | 6.000 | 09/01/31 | 4211495 |
| Targa Resources Partners LP/Targa Resources Partners Finance Corp.<sup>(a)</sup>  | Targa Resources Partners LP/Targa Resources Partners Finance Corp.<sup>(a)</sup>  | Targa Resources Partners LP/Targa Resources Partners Finance Corp.<sup>(a)</sup>  | Targa Resources Partners LP/Targa Resources Partners Finance Corp.<sup>(a)</sup>  |
| 1835000 | 4.875 | 02/01/31 | 1815054 |
| TransMontaigne Partners LLC<sup>(a)(b)</sup> | TransMontaigne Partners LLC<sup>(a)(b)</sup> | TransMontaigne Partners LLC<sup>(a)(b)</sup> | TransMontaigne Partners LLC<sup>(a)(b)</sup> |
| 4115000 | 8.500 | 06/15/30 | 4300134 |
| Venture Global Calcasieu Pass LLC<sup>(a)(b)</sup> | Venture Global Calcasieu Pass LLC<sup>(a)(b)</sup> | Venture Global Calcasieu Pass LLC<sup>(a)(b)</sup> | Venture Global Calcasieu Pass LLC<sup>(a)(b)</sup> |
| 3113000 | 4.125 | 08/15/31 | 2874700 |
| Venture Global LNG, Inc.<sup>(a)(b)</sup> | Venture Global LNG, Inc.<sup>(a)(b)</sup> | Venture Global LNG, Inc.<sup>(a)(b)</sup> | Venture Global LNG, Inc.<sup>(a)(b)</sup> |
| 3845000 | 8.125 | 06/01/28 | 3977922 |
| 2380000 | 9.500 | 02/01/29 | 2595009 |
| 1325000 | 7.000 | 01/15/30 | 1343868 |
| Venture Global Plaquemines LNG LLC<sup>(a)(b)</sup> | Venture Global Plaquemines LNG LLC<sup>(a)(b)</sup> | Venture Global Plaquemines LNG LLC<sup>(a)(b)</sup> | Venture Global Plaquemines LNG LLC<sup>(a)(b)</sup> |
| 1380000 | 6.500 | 01/15/34 | 1419440 |
| 1380000 | 6.750 | 01/15/36 | 1419454 |
| Williams Cos., Inc. | Williams Cos., Inc. | Williams Cos., Inc. | Williams Cos., Inc. |
| 6715000 | 7.500 | 01/15/31 | 7526441 |
|  |  |  | 107088002 |
| **Real Estate<sup>(a)</sup>** – **0.1%** | **Real Estate<sup>(a)</sup>** – **0.1%** | **Real Estate<sup>(a)</sup>** – **0.1%** | **Real Estate<sup>(a)</sup>** – **0.1%** |
| Anywhere Real Estate Group LLC/Realogy Co-Issuer Corp.<sup>(b)</sup> | Anywhere Real Estate Group LLC/Realogy Co-Issuer Corp.<sup>(b)</sup> | Anywhere Real Estate Group LLC/Realogy Co-Issuer Corp.<sup>(b)</sup> | Anywhere Real Estate Group LLC/Realogy Co-Issuer Corp.<sup>(b)</sup> |
| 3565000 | 5.750 | 01/15/29 | 3174811 |
| Howard Hughes Corp.<sup>(b)</sup> | Howard Hughes Corp.<sup>(b)</sup> | Howard Hughes Corp.<sup>(b)</sup> | Howard Hughes Corp.<sup>(b)</sup> |
| 704000 | 4.125 | 02/01/29 | 671672 |
| Redsun Properties Group Ltd.<sup>(i)</sup> | Redsun Properties Group Ltd.<sup>(i)</sup> | Redsun Properties Group Ltd.<sup>(i)</sup> | Redsun Properties Group Ltd.<sup>(i)</sup> |
| 230000 | 7.300 | 01/13/25 | 3450 |
| Yuzhou Group Holdings Co. Ltd.<sup>(i)</sup> (-1X 5 yr. CMT + 8.527%) | Yuzhou Group Holdings Co. Ltd.<sup>(i)</sup> (-1X 5 yr. CMT + 8.527%) | Yuzhou Group Holdings Co. Ltd.<sup>(i)</sup> (-1X 5 yr. CMT + 8.527%) | Yuzhou Group Holdings Co. Ltd.<sup>(i)</sup> (-1X 5 yr. CMT + 8.527%) |
| 380000 | 5.375 | 09/29/25 | 5700 |
|  |  |  | 3855633 |
| **Real Estate Investment Trust<sup>(a)</sup>** – **1.0%** | **Real Estate Investment Trust<sup>(a)</sup>** – **1.0%** | **Real Estate Investment Trust<sup>(a)</sup>** – **1.0%** | **Real Estate Investment Trust<sup>(a)</sup>** – **1.0%** |
| Brookfield Property REIT, Inc./BPR Cumulus LLC/BPR Nimbus LLC/GGSI Sellco LLC<sup>(b)</sup>  | Brookfield Property REIT, Inc./BPR Cumulus LLC/BPR Nimbus LLC/GGSI Sellco LLC<sup>(b)</sup>  | Brookfield Property REIT, Inc./BPR Cumulus LLC/BPR Nimbus LLC/GGSI Sellco LLC<sup>(b)</sup>  | Brookfield Property REIT, Inc./BPR Cumulus LLC/BPR Nimbus LLC/GGSI Sellco LLC<sup>(b)</sup>  |
| 376000 | 5.750 | 05/15/26 | 374797 |
| CIBANCO SA Institucion de Banca Multiple Trust CIB/3332<sup>(b)</sup> | CIBANCO SA Institucion de Banca Multiple Trust CIB/3332<sup>(b)</sup> | CIBANCO SA Institucion de Banca Multiple Trust CIB/3332<sup>(b)</sup> | CIBANCO SA Institucion de Banca Multiple Trust CIB/3332<sup>(b)</sup> |
| 1630000 | 4.375 | 07/22/31 | 1331710 |
| Crown Castle, Inc. | Crown Castle, Inc. | Crown Castle, Inc. | Crown Castle, Inc. |
| 290000 | 4.150 | 07/01/50 | 222056 |
| Iron Mountain Information Management Services, Inc.<sup>(b)</sup> | Iron Mountain Information Management Services, Inc.<sup>(b)</sup> | Iron Mountain Information Management Services, Inc.<sup>(b)</sup> | Iron Mountain Information Management Services, Inc.<sup>(b)</sup> |
| 9118000 | 5.000 | 07/15/32 | 8704863 |
| MPT Operating Partnership LP/MPT Finance Corp. | MPT Operating Partnership LP/MPT Finance Corp. | MPT Operating Partnership LP/MPT Finance Corp. | MPT Operating Partnership LP/MPT Finance Corp. |
| 2880000 | 5.000 | 10/15/27 | 2641997 |
| 2570000 | 3.500 | 03/15/31 | 1755824 |
| 105000 | 8.500 <sup>(b)</sup> | 02/15/32 | 109226 |
| RHP Hotel Properties LP/RHP Finance Corp.<sup>(b)</sup> | RHP Hotel Properties LP/RHP Finance Corp.<sup>(b)</sup> | RHP Hotel Properties LP/RHP Finance Corp.<sup>(b)</sup> | RHP Hotel Properties LP/RHP Finance Corp.<sup>(b)</sup> |
| 410000 | 6.500 | 06/15/33 | 419820 |
| SBA Communications Corp. | SBA Communications Corp. | SBA Communications Corp. | SBA Communications Corp. |
| 2532000 | 3.875 | 02/15/27 | 2486905 |
| Starwood Property Trust, Inc.<sup>(b)</sup> | Starwood Property Trust, Inc.<sup>(b)</sup> | Starwood Property Trust, Inc.<sup>(b)</sup> | Starwood Property Trust, Inc.<sup>(b)</sup> |
| 2040000 | 6.500 | 07/01/30 | 2098507 |

---

------

GOLDMAN SACHS INCOME BUILDER FUND

*July 31, 2025 (Unaudited)* 

---

| | | | |
|:---|:---|:---|:---|
| **Principal**<br> **Amount** | **Interest**<br> **Rate** | **Maturity**<br> **Date** | **Value** |
| **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** |
| **Real Estate Investment Trust<sup>(a)</sup>** – **(continued)** | **Real Estate Investment Trust<sup>(a)</sup>** – **(continued)** | **Real Estate Investment Trust<sup>(a)</sup>** – **(continued)** | **Real Estate Investment Trust<sup>(a)</sup>** – **(continued)** |
| Trust Fibra Uno | Trust Fibra Uno | Trust Fibra Uno | Trust Fibra Uno |
| 200000 | 4.869% | 01/15/30 | $190774 |
| Uniti Group LP/Uniti Group Finance 2019, Inc./CSL Capital LLC<sup>(b)</sup> | Uniti Group LP/Uniti Group Finance 2019, Inc./CSL Capital LLC<sup>(b)</sup> | Uniti Group LP/Uniti Group Finance 2019, Inc./CSL Capital LLC<sup>(b)</sup> | Uniti Group LP/Uniti Group Finance 2019, Inc./CSL Capital LLC<sup>(b)</sup> |
| 2055000 | 4.750 | 04/15/28 | 1994624 |
| XHR LP<sup>(b)</sup> | XHR LP<sup>(b)</sup> | XHR LP<sup>(b)</sup> | XHR LP<sup>(b)</sup> |
| 2650000 | 4.875 | 06/01/29 | 2560748 |
|  |  |  | 24891851 |
| **Retailing<sup>(a)</sup>** – **1.2%** | **Retailing<sup>(a)</sup>** – **1.2%** | **Retailing<sup>(a)</sup>** – **1.2%** | **Retailing<sup>(a)</sup>** – **1.2%** |
| Arko Corp.<sup>(b)</sup> | Arko Corp.<sup>(b)</sup> | Arko Corp.<sup>(b)</sup> | Arko Corp.<sup>(b)</sup> |
| 1590000 | 5.125 | 11/15/29 | 1303641 |
| Asbury Automotive Group, Inc.<sup>(b)</sup> | Asbury Automotive Group, Inc.<sup>(b)</sup> | Asbury Automotive Group, Inc.<sup>(b)</sup> | Asbury Automotive Group, Inc.<sup>(b)</sup> |
| 1402000 | 4.625 | 11/15/29 | 1345612 |
| 774000 | 5.000 | 02/15/32 | 732684 |
| AutoNation, Inc. | AutoNation, Inc. | AutoNation, Inc. | AutoNation, Inc. |
| 921000 | 4.750 | 06/01/30 | 913006 |
| Cougar JV Subsidiary LLC<sup>(b)</sup> | Cougar JV Subsidiary LLC<sup>(b)</sup> | Cougar JV Subsidiary LLC<sup>(b)</sup> | Cougar JV Subsidiary LLC<sup>(b)</sup> |
| 3252000 | 8.000 | 05/15/32 | 3437787 |
| Foundation Building Materials, Inc.<sup>(b)</sup> | Foundation Building Materials, Inc.<sup>(b)</sup> | Foundation Building Materials, Inc.<sup>(b)</sup> | Foundation Building Materials, Inc.<sup>(b)</sup> |
| 2435000 | 6.000 | 03/01/29 | 2284663 |
| Group 1 Automotive, Inc.<sup>(b)</sup> | Group 1 Automotive, Inc.<sup>(b)</sup> | Group 1 Automotive, Inc.<sup>(b)</sup> | Group 1 Automotive, Inc.<sup>(b)</sup> |
| 480000 | 6.375 | 01/15/30 | 489730 |
| GYP Holdings III Corp.<sup>(b)</sup> | GYP Holdings III Corp.<sup>(b)</sup> | GYP Holdings III Corp.<sup>(b)</sup> | GYP Holdings III Corp.<sup>(b)</sup> |
| 1777000 | 4.625 | 05/01/29 | 1796138 |
| LCM Investments Holdings II LLC<sup>(b)</sup> | LCM Investments Holdings II LLC<sup>(b)</sup> | LCM Investments Holdings II LLC<sup>(b)</sup> | LCM Investments Holdings II LLC<sup>(b)</sup> |
| 2895000 | 4.875 | 05/01/29 | 2813506 |
| 1155000 | 8.250 | 08/01/31 | 1221181 |
| Lowe's Cos., Inc. | Lowe's Cos., Inc. | Lowe's Cos., Inc. | Lowe's Cos., Inc. |
| 1977000 | 3.750 | 04/01/32 | 1856858 |
| 4220000 | 5.000 | 04/15/33 | 4248358 |
| Penske Automotive Group, Inc. | Penske Automotive Group, Inc. | Penske Automotive Group, Inc. | Penske Automotive Group, Inc. |
| 2089000 | 3.750 | 06/15/29 | 1977447 |
| QXO Building Products, Inc.<sup>(b)</sup> | QXO Building Products, Inc.<sup>(b)</sup> | QXO Building Products, Inc.<sup>(b)</sup> | QXO Building Products, Inc.<sup>(b)</sup> |
| 1245000 | 6.750 | 04/30/32 | 1282549 |
| Staples, Inc.<sup>(b)</sup> | Staples, Inc.<sup>(b)</sup> | Staples, Inc.<sup>(b)</sup> | Staples, Inc.<sup>(b)</sup> |
| 650000 | 10.750 | 09/01/29 | 609017 |
| Suburban Propane Partners LP/Suburban Energy Finance Corp.<sup>(b)</sup> | Suburban Propane Partners LP/Suburban Energy Finance Corp.<sup>(b)</sup> | Suburban Propane Partners LP/Suburban Energy Finance Corp.<sup>(b)</sup> | Suburban Propane Partners LP/Suburban Energy Finance Corp.<sup>(b)</sup> |
| 2155000 | 5.000 | 06/01/31 | 2024256 |
| Vivo Energy Investments BV | Vivo Energy Investments BV | Vivo Energy Investments BV | Vivo Energy Investments BV |
| 290000 | 5.125 | 09/24/27 | 285050 |
| Yum! Brands, Inc.<sup>(b)</sup> | Yum! Brands, Inc.<sup>(b)</sup> | Yum! Brands, Inc.<sup>(b)</sup> | Yum! Brands, Inc.<sup>(b)</sup> |
| 2939000 | 4.750 | 01/15/30 | 2896179 |
|  |  |  | 31517662 |
| **Semiconductors<sup>(a)</sup>** – **0.3%** | **Semiconductors<sup>(a)</sup>** – **0.3%** | **Semiconductors<sup>(a)</sup>** – **0.3%** | **Semiconductors<sup>(a)</sup>** – **0.3%** |
| Broadcom, Inc.<sup>(b)</sup> | Broadcom, Inc.<sup>(b)</sup> | Broadcom, Inc.<sup>(b)</sup> | Broadcom, Inc.<sup>(b)</sup> |
| 1984000 | 3.469 | 04/15/34 | 1763617 |
| 1781000 | 3.137 | 11/15/35 | 1496165 |
| 3184000 | 3.187 | 11/15/36 | 2627978 |
| NXP BV/NXP Funding LLC/NXP USA, Inc. | NXP BV/NXP Funding LLC/NXP USA, Inc. | NXP BV/NXP Funding LLC/NXP USA, Inc. | NXP BV/NXP Funding LLC/NXP USA, Inc. |
| 942000 | 3.400 | 05/01/30 | 891113 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal**<br> **Amount** | **Interest**<br> **Rate** | **Maturity**<br> **Date** | **Value** |
| **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** |
| **Semiconductors<sup>(a)</sup>** – **(continued)** | **Semiconductors<sup>(a)</sup>** – **(continued)** | **Semiconductors<sup>(a)</sup>** – **(continued)** | **Semiconductors<sup>(a)</sup>** – **(continued)** |
| Qorvo, Inc. | Qorvo, Inc. | Qorvo, Inc. | Qorvo, Inc. |
| 720000 | 4.375% | 10/15/29 | $698364 |
|  |  |  | 7477237 |
| **Software<sup>(a)</sup>** – **1.7%** | **Software<sup>(a)</sup>** – **1.7%** | **Software<sup>(a)</sup>** – **1.7%** | **Software<sup>(a)</sup>** – **1.7%** |
| AthenaHealth Group, Inc.<sup>(b)</sup> | AthenaHealth Group, Inc.<sup>(b)</sup> | AthenaHealth Group, Inc.<sup>(b)</sup> | AthenaHealth Group, Inc.<sup>(b)</sup> |
| 4570000 | 6.500 | 02/15/30 | 4492813 |
| Castle U.S. Holding Corp.<sup>(b)</sup> | Castle U.S. Holding Corp.<sup>(b)</sup> | Castle U.S. Holding Corp.<sup>(b)</sup> | Castle U.S. Holding Corp.<sup>(b)</sup> |
| 3735000 | 10.000 | 06/30/31 | 1401858 |
| Clarivate Science Holdings Corp.<sup>(b)</sup> | Clarivate Science Holdings Corp.<sup>(b)</sup> | Clarivate Science Holdings Corp.<sup>(b)</sup> | Clarivate Science Holdings Corp.<sup>(b)</sup> |
| 3369000 | 3.875 | 07/01/28 | 3225986 |
| 2306000 | 4.875 | 07/01/29 | 2162867 |
| Cloud Software Group, Inc.<sup>(b)</sup> | Cloud Software Group, Inc.<sup>(b)</sup> | Cloud Software Group, Inc.<sup>(b)</sup> | Cloud Software Group, Inc.<sup>(b)</sup> |
| 2848000 | 9.000 | 09/30/29 | 2947338 |
| 1585000 | 8.250 | 06/30/32 | 1688088 |
| CoreWeave, Inc.<sup>(b)</sup> | CoreWeave, Inc.<sup>(b)</sup> | CoreWeave, Inc.<sup>(b)</sup> | CoreWeave, Inc.<sup>(b)</sup> |
| 3230000 | 9.250 | 06/01/30 | 3246408 |
| 4187000 | 9.000 | 02/01/31 | 4179631 |
| Elastic NV<sup>(b)</sup> | Elastic NV<sup>(b)</sup> | Elastic NV<sup>(b)</sup> | Elastic NV<sup>(b)</sup> |
| 1760000 | 4.125 | 07/15/29 | 1673566 |
| Open Text Corp.<sup>(b)</sup> | Open Text Corp.<sup>(b)</sup> | Open Text Corp.<sup>(b)</sup> | Open Text Corp.<sup>(b)</sup> |
| 6665000 | 3.875 | 12/01/29 | 6238307 |
| Oracle Corp. | Oracle Corp. | Oracle Corp. | Oracle Corp. |
| 1935000 | 4.900 | 02/06/33 | 1928247 |
| 1350000 | 3.600 | 04/01/50 | 927814 |
| ROBLOX Corp.<sup>(b)</sup> | ROBLOX Corp.<sup>(b)</sup> | ROBLOX Corp.<sup>(b)</sup> | ROBLOX Corp.<sup>(b)</sup> |
| 1895000 | 3.875 | 05/01/30 | 1781698 |
| SS&C Technologies, Inc.<sup>(b)</sup> | SS&C Technologies, Inc.<sup>(b)</sup> | SS&C Technologies, Inc.<sup>(b)</sup> | SS&C Technologies, Inc.<sup>(b)</sup> |
| 815000 | 5.500 | 09/30/27 | 815041 |
| 3530000 | 6.500 | 06/01/32 | 3633147 |
| TeamSystem SpA<sup>(b)</sup> | TeamSystem SpA<sup>(b)</sup> | TeamSystem SpA<sup>(b)</sup> | TeamSystem SpA<sup>(b)</sup> |
| 2975000 | 3.500 | 02/15/28 | 3369605 |
| ZoomInfo Technologies LLC/ZoomInfo Finance Corp.<sup>(b)</sup> | ZoomInfo Technologies LLC/ZoomInfo Finance Corp.<sup>(b)</sup> | ZoomInfo Technologies LLC/ZoomInfo Finance Corp.<sup>(b)</sup> | ZoomInfo Technologies LLC/ZoomInfo Finance Corp.<sup>(b)</sup> |
| 1390000 | 3.875 | 02/01/29 | 1306711 |
|  |  |  | 45019125 |
| **Sovereign<sup>(a)</sup>** – **0.2%** | **Sovereign<sup>(a)</sup>** – **0.2%** | **Sovereign<sup>(a)</sup>** – **0.2%** | **Sovereign<sup>(a)</sup>** – **0.2%** |
| CoBank ACB<sup>(d)</sup> (3 mo. USD LIBOR + 4.660%) | CoBank ACB<sup>(d)</sup> (3 mo. USD LIBOR + 4.660%) | CoBank ACB<sup>(d)</sup> (3 mo. USD LIBOR + 4.660%) | CoBank ACB<sup>(d)</sup> (3 mo. USD LIBOR + 4.660%) |
| 5135000 | 6.250 | 10/01/26 | 5153825 |
| Eagle Funding Luxco SARL<sup>(b)</sup> | Eagle Funding Luxco SARL<sup>(b)</sup> | Eagle Funding Luxco SARL<sup>(b)</sup> | Eagle Funding Luxco SARL<sup>(b)</sup> |
| 250000 | 5.500 | 08/17/30 | 251675 |
|  |  |  | 5405500 |
| **Telecommunication Services** – **1.1%** | **Telecommunication Services** – **1.1%** | **Telecommunication Services** – **1.1%** | **Telecommunication Services** – **1.1%** |
| Altice France SA<sup>(a)(b)</sup> | Altice France SA<sup>(a)(b)</sup> | Altice France SA<sup>(a)(b)</sup> | Altice France SA<sup>(a)(b)</sup> |
| 4695000 | 5.500 | 10/15/29 | 4079438 |
| AT&T, Inc.<sup>(a)</sup> | AT&T, Inc.<sup>(a)</sup> | AT&T, Inc.<sup>(a)</sup> | AT&T, Inc.<sup>(a)</sup> |
| 3335000 | 2.250 | 02/01/32 | 2863331 |
| Axian Telecom Holding & Management PLC<sup>(a)(b)</sup> | Axian Telecom Holding & Management PLC<sup>(a)(b)</sup> | Axian Telecom Holding & Management PLC<sup>(a)(b)</sup> | Axian Telecom Holding & Management PLC<sup>(a)(b)</sup> |
| 200000 | 7.250 | 07/11/30 | 200200 |
| CAS Capital No. 1 Ltd.<sup>(a)(d)</sup> (5 yr. CMT + 3.642%) | CAS Capital No. 1 Ltd.<sup>(a)(d)</sup> (5 yr. CMT + 3.642%) | CAS Capital No. 1 Ltd.<sup>(a)(d)</sup> (5 yr. CMT + 3.642%) | CAS Capital No. 1 Ltd.<sup>(a)(d)</sup> (5 yr. CMT + 3.642%) |
| 204000 | 4.000 | 07/12/26 | 200838 |
| CommScope LLC<sup>(a)(b)</sup> | CommScope LLC<sup>(a)(b)</sup> | CommScope LLC<sup>(a)(b)</sup> | CommScope LLC<sup>(a)(b)</sup> |
| 549000 | 8.250 | 03/01/27 | 549291 |
| 1195000 | 9.500 | 12/15/31 | 1257248 |

---

------

GOLDMAN SACHS INCOME BUILDER FUND

*July 31, 2025 (Unaudited)* 

---

| | | | |
|:---|:---|:---|:---|
| **Principal**<br> **Amount** | **Interest**<br> **Rate** | **Maturity**<br> **Date** | **Value** |
| **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** |
| **Telecommunication Services** – **(continued)** | **Telecommunication Services** – **(continued)** | **Telecommunication Services** – **(continued)** | **Telecommunication Services** – **(continued)** |
| Digicel International Finance Ltd./Difl U.S. LLC<sup>(a)(b)</sup> | Digicel International Finance Ltd./Difl U.S. LLC<sup>(a)(b)</sup> | Digicel International Finance Ltd./Difl U.S. LLC<sup>(a)(b)</sup> | Digicel International Finance Ltd./Difl U.S. LLC<sup>(a)(b)</sup> |
| 200000 | 8.625% | 08/01/32 | $202056 |
| EchoStar Corp.<sup>(a)</sup> | EchoStar Corp.<sup>(a)</sup> | EchoStar Corp.<sup>(a)</sup> | EchoStar Corp.<sup>(a)</sup> |
| 3085000 | 10.750 | 11/30/29 | 3250757 |
| (PIK 6.750%, Cash 6.750%) | (PIK 6.750%, Cash 6.750%) | (PIK 6.750%, Cash 6.750%) | (PIK 6.750%, Cash 6.750%) |
| 1286035 | 6.750 <sup>(c)</sup> | 11/30/30 | 1218762 |
| Fibercop SpA<sup>(a)(b)</sup> | Fibercop SpA<sup>(a)(b)</sup> | Fibercop SpA<sup>(a)(b)</sup> | Fibercop SpA<sup>(a)(b)</sup> |
| 1348000 | 7.200 | 07/18/36 | 1332889 |
| 674000 | 7.721 | 06/04/38 | 672039 |
| Hughes Satellite Systems Corp. | Hughes Satellite Systems Corp. | Hughes Satellite Systems Corp. | Hughes Satellite Systems Corp. |
| 1140000 | 6.625 | 08/01/26 | 866024 |
| Iliad Holding SASU<sup>(a)(b)</sup> | Iliad Holding SASU<sup>(a)(b)</sup> | Iliad Holding SASU<sup>(a)(b)</sup> | Iliad Holding SASU<sup>(a)(b)</sup> |
| 1400000 | 7.000 | 04/15/32 | 1438458 |
| Level 3 Financing, Inc.<sup>(a)(b)</sup> | Level 3 Financing, Inc.<sup>(a)(b)</sup> | Level 3 Financing, Inc.<sup>(a)(b)</sup> | Level 3 Financing, Inc.<sup>(a)(b)</sup> |
| 2155000 | 6.875 | 06/30/33 | 2186334 |
| Nokia of America Corp. | Nokia of America Corp. | Nokia of America Corp. | Nokia of America Corp. |
| 2880000 | 6.450 | 03/15/29 | 2814019 |
| Sprint Capital Corp. | Sprint Capital Corp. | Sprint Capital Corp. | Sprint Capital Corp. |
| 1105000 | 8.750 | 03/15/32 | 1335028 |
| Telecom Italia Capital SA | Telecom Italia Capital SA | Telecom Italia Capital SA | Telecom Italia Capital SA |
| 432000 | 7.200 | 07/18/36 | 454391 |
| 311000 | 7.721 | 06/04/38 | 335451 |
| Telefonica Celular del Paraguay SA<sup>(a)</sup> | Telefonica Celular del Paraguay SA<sup>(a)</sup> | Telefonica Celular del Paraguay SA<sup>(a)</sup> | Telefonica Celular del Paraguay SA<sup>(a)</sup> |
| 203000 | 5.875 | 04/15/27 | 202683 |
| T-Mobile USA, Inc.<sup>(a)</sup> | T-Mobile USA, Inc.<sup>(a)</sup> | T-Mobile USA, Inc.<sup>(a)</sup> | T-Mobile USA, Inc.<sup>(a)</sup> |
| 1821000 | 4.500 | 04/15/50 | 1496134 |
| Total Play Telecomunicaciones SA de CV<sup>(a)</sup> | Total Play Telecomunicaciones SA de CV<sup>(a)</sup> | Total Play Telecomunicaciones SA de CV<sup>(a)</sup> | Total Play Telecomunicaciones SA de CV<sup>(a)</sup> |
| 250000 | 10.500 | 12/31/28 | 240707 |
| Windstream Services LLC/Windstream Escrow Finance Corp.<sup>(a)(b)</sup> | Windstream Services LLC/Windstream Escrow Finance Corp.<sup>(a)(b)</sup> | Windstream Services LLC/Windstream Escrow Finance Corp.<sup>(a)(b)</sup> | Windstream Services LLC/Windstream Escrow Finance Corp.<sup>(a)(b)</sup> |
| 865000 | 8.250 | 10/01/31 | 906269 |
|  |  |  | 28102347 |
| **Toys/Games/Hobbies<sup>(a)(b)</sup>** – **0.1%** | **Toys/Games/Hobbies<sup>(a)(b)</sup>** – **0.1%** | **Toys/Games/Hobbies<sup>(a)(b)</sup>** – **0.1%** | **Toys/Games/Hobbies<sup>(a)(b)</sup>** – **0.1%** |
| Mattel, Inc. | Mattel, Inc. | Mattel, Inc. | Mattel, Inc. |
| 2095000 | 3.375 | 04/01/26 | 2071620 |
| **Transportation** – **0.3%** | **Transportation** – **0.3%** | **Transportation** – **0.3%** | **Transportation** – **0.3%** |
| Beacon Mobility Corp.<sup>(a)(b)</sup> | Beacon Mobility Corp.<sup>(a)(b)</sup> | Beacon Mobility Corp.<sup>(a)(b)</sup> | Beacon Mobility Corp.<sup>(a)(b)</sup> |
| 1330000 | 7.250 | 08/01/30 | 1355057 |
| MV24 Capital BV | MV24 Capital BV | MV24 Capital BV | MV24 Capital BV |
| 417422 | 6.748 | 06/01/34 | 413457 |
| Rand Parent LLC<sup>(a)(b)</sup> | Rand Parent LLC<sup>(a)(b)</sup> | Rand Parent LLC<sup>(a)(b)</sup> | Rand Parent LLC<sup>(a)(b)</sup> |
| 2790000 | 8.500 | 02/15/30 | 2805485 |
| RXO, Inc.<sup>(a)(b)</sup> | RXO, Inc.<sup>(a)(b)</sup> | RXO, Inc.<sup>(a)(b)</sup> | RXO, Inc.<sup>(a)(b)</sup> |
| 1675000 | 7.500 | 11/15/27 | 1709555 |
| Transnet SOC Ltd.<sup>(b)</sup> | Transnet SOC Ltd.<sup>(b)</sup> | Transnet SOC Ltd.<sup>(b)</sup> | Transnet SOC Ltd.<sup>(b)</sup> |
| 400000 | 8.250 | 02/06/28 | 415932 |
| XPO, Inc.<sup>(a)(b)</sup> | XPO, Inc.<sup>(a)(b)</sup> | XPO, Inc.<sup>(a)(b)</sup> | XPO, Inc.<sup>(a)(b)</sup> |
| 1315000 | 7.125 | 02/01/32 | 1369007 |
|  |  |  | 8068493 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Amount** | **Principal**<br> **Amount** | **Interest**<br> **Rate** | **Maturity**<br> **Date** | **Value** |
| **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** | **Corporate Obligations** – **(continued)** |
|  **Trucking & Leasing<sup>(a)(b)</sup>** – **0.1%** | **Trucking & Leasing<sup>(a)(b)</sup>** – **0.1%** | **Trucking & Leasing<sup>(a)(b)</sup>** – **0.1%** | **Trucking & Leasing<sup>(a)(b)</sup>** – **0.1%** | **Trucking & Leasing<sup>(a)(b)</sup>** – **0.1%** |
|  FTAI Aviation Investors LLC | FTAI Aviation Investors LLC | FTAI Aviation Investors LLC | FTAI Aviation Investors LLC | FTAI Aviation Investors LLC |
|  $ | 2130000 | 5.500% | 05/01/28 | $2130639 |
| **TOTAL CORPORATE OBLIGATIONS<br>(Cost $1,186,415,970)** | **TOTAL CORPORATE OBLIGATIONS<br>(Cost $1,186,415,970)** | **TOTAL CORPORATE OBLIGATIONS<br>(Cost $1,186,415,970)** | **TOTAL CORPORATE OBLIGATIONS<br>(Cost $1,186,415,970)** | $1168641067 |

---

---

| | | |
|:---|:---|:---|
| **<br>Shares** | **Description** | **Value** |
| **Common Stocks** – **35.6%** | **Common Stocks** – **35.6%** | **Common Stocks** – **35.6%** |
| **Aerospace & Defense** – **1.0%** | **Aerospace & Defense** – **1.0%** | **Aerospace & Defense** – **1.0%** |
| &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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74033 | General Electric Co. | $20068865 |
| 24213 | L3Harris Technologies, Inc. | 6654217 |
|  |  | 26723082 |
| **Banks** – **3.7%** | **Banks** – **3.7%** | **Banks** – **3.7%** |
| 773785 | Banco Bilbao Vizcaya |  |
|  | Argentaria SA ADR | 12945423 |
| 395306 | Bank of America Corp. | 18686115 |
| 130615 | JPMorgan Chase & Co. | 38693388 |
| 198523 | Truist Financial Corp. | 8677440 |
| 209499 | Wells Fargo & Co. | 16891904 |
|  |  | 95894270 |
| **Beverages** – **0.7%** | **Beverages** – **0.7%** | **Beverages** – **0.7%** |
| 108352 | Coca-Cola Co. | 7356017 |
| 110846 | Coca-Cola Europacific Partners PLC | 10743195 |
|  |  | 18099212 |
| **Biotechnology** – **0.8%** | **Biotechnology** – **0.8%** | **Biotechnology** – **0.8%** |
| 55269 | AbbVie, Inc. | 10446946 |
| 35698 | Amgen, Inc. | 10534480 |
|  |  | 20981426 |
| **Capital Markets** – **1.3%** | **Capital Markets** – **1.3%** | **Capital Markets** – **1.3%** |
| 71673 | Blackstone, Inc. | 12396562 |
| 82769 | KKR & Co., Inc. | 12132280 |
| 337511 | Singapore Exchange Ltd. ADR | 8267332 |
|  |  | 32796174 |
| **Chemicals** – **0.7%** | **Chemicals** – **0.7%** | **Chemicals** – **0.7%** |
| 37132 | Linde PLC | 17090374 |
| **Commercial Services & Supplies** – **0.3%** | **Commercial Services & Supplies** – **0.3%** | **Commercial Services & Supplies** – **0.3%** |
| 39305 | Republic Services, Inc. | 9065698 |
| **Communications Equipment** – **0.6%** | **Communications Equipment** – **0.6%** | **Communications Equipment** – **0.6%** |
| 212983 | Cisco Systems, Inc. | 14499883 |
| 35685 | Intelsat SA<sup>(e)(i)</sup> | 0 |
|  |  | 14499883 |
| **Construction & Engineering** – **0.2%** | **Construction & Engineering** – **0.2%** | **Construction & Engineering** – **0.2%** |
| 146778 | Vinci SA ADR | 5082922 |
| **Consumer Finance** – **0.5%** | **Consumer Finance** – **0.5%** | **Consumer Finance** – **0.5%** |
| 40930 | American Express Co. | 12250758 |

---

------

GOLDMAN SACHS INCOME BUILDER FUND

*July 31, 2025 (Unaudited)* 

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> **Shares** | **Description** | **Value** |
| **Common Stocks** – **(continued)** | **Common Stocks** – **(continued)** | **Common Stocks** – **(continued)** |
| **Consumer Staples Distribution & Retail** – **1.5%** | **Consumer Staples Distribution & Retail** – **1.5%** | **Consumer Staples Distribution & Retail** – **1.5%** |
| &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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9876 | Costco Wholesale Corp. | $9279885 |
| 239393 | Koninklijke Ahold Delhaize NV ADR | 9444054 |
| 200152 | Walmart, Inc. | 19610893 |
|  |  | 38334832 |
| **Containers & Packaging** – **0.3%** | **Containers & Packaging** – **0.3%** | **Containers & Packaging** – **0.3%** |
| 158378 | International Paper Co. | 7402588 |
| **Diversified Telecommunication Services** – **0.4%** | **Diversified Telecommunication Services** – **0.4%** | **Diversified Telecommunication Services** – **0.4%** |
| 391517 | AT&T, Inc. | 10731481 |
| **Electric Utilities** – **1.3%** | **Electric Utilities** – **1.3%** | **Electric Utilities** – **1.3%** |
| 148404 | Iberdrola SA ADR | 10425381 |
| 159195 | NextEra Energy, Inc. | 11312396 |
| 174513 | Xcel Energy, Inc. | 12816235 |
|  |  | 34554012 |
| **Electrical Equipment** – **0.9%** | **Electrical Equipment** – **0.9%** | **Electrical Equipment** – **0.9%** |
| 39010 | Eaton Corp. PLC | 15007927 |
| 175321 | Schneider Electric SE ADR | 9160523 |
|  |  | 24168450 |
| **Energy Equipment & Services** – **0.1%** | **Energy Equipment & Services** – **0.1%** | **Energy Equipment & Services** – **0.1%** |
| 63962 | Noble Corp. PLC | 1714821 |
| **Financial Services** – **0.3%** | **Financial Services** – **0.3%** | **Financial Services** – **0.3%** |
| 19390 | Visa, Inc. Class A | 6698663 |
| **Food Products** – **0.3%** | **Food Products** – **0.3%** | **Food Products** – **0.3%** |
| 80560 | Nestle SA ADR | 7007109 |
| **Ground Transportation** – **0.3%** | **Ground Transportation** – **0.3%** | **Ground Transportation** – **0.3%** |
| 24030 | Norfolk Southern Corp. | 6680340 |
| **Health Care Equipment & Supplies** – **0.7%** | **Health Care Equipment & Supplies** – **0.7%** | **Health Care Equipment & Supplies** – **0.7%** |
| 100887 | Abbott Laboratories | 12730931 |
| 48655 | Hoya Corp. ADR | 6203512 |
|  |  | 18934443 |
| **Health Care Providers & Services** – **0.6%** | **Health Care Providers & Services** – **0.6%** | **Health Care Providers & Services** – **0.6%** |
| 111802 | CVS Health Corp. | 6942904 |
| 32705 | UnitedHealth Group, Inc. | 8161860 |
|  |  | 15104764 |
| **Health Care REITs** – **0.2%** | **Health Care REITs** – **0.2%** | **Health Care REITs** – **0.2%** |
| 272545 | Healthpeak Properties, Inc. | 4616912 |
| **Hotels, Restaurants & Leisure** – **1.3%** | **Hotels, Restaurants & Leisure** – **1.3%** | **Hotels, Restaurants & Leisure** – **1.3%** |
| 38544 | Hilton Worldwide Holdings, Inc. | 10332876 |
| 52947 | McDonald's Corp. | 15887806 |
| 92934 | Starbucks Corp. | 8285995 |
|  |  | 34506677 |
| **Household Durables** – **0.3%** | **Household Durables** – **0.3%** | **Household Durables** – **0.3%** |
| 58194 | DR Horton, Inc. | 8312431 |
| **Household Products** – **0.6%** | **Household Products** – **0.6%** | **Household Products** – **0.6%** |
| 109429 | Procter & Gamble Co. | 16465782 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> **Shares** | **Description** | **Value** |
| **Common Stocks** – **(continued)** | **Common Stocks** – **(continued)** | **Common Stocks** – **(continued)** |
| **Industrial Conglomerates** – **0.6%** | **Industrial Conglomerates** – **0.6%** | **Industrial Conglomerates** – **0.6%** |
| &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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65262 | Honeywell International, Inc. | $14511006 |
| **Industrial REITs** – **0.3%** | **Industrial REITs** – **0.3%** | **Industrial REITs** – **0.3%** |
| 79750 | Prologis, Inc. | 8515705 |
| **Insurance** – **1.1%** | **Insurance** – **1.1%** | **Insurance** – **1.1%** |
| 47013 | Allstate Corp. | 9555392 |
| 40622 | Marsh & McLennan Cos., Inc. | 8091903 |
| 301837 | Zurich Insurance Group AG ADR | 10353009 |
|  |  | 28000304 |
| **Interactive Media & Services** – **0.5%** | **Interactive Media & Services** – **0.5%** | **Interactive Media & Services** – **0.5%** |
| 66399 | Alphabet, Inc. Class A | 12741968 |
| **IT Services<sup>(i)</sup>** – **0.0%** | **IT Services<sup>(i)</sup>** – **0.0%** | **IT Services<sup>(i)</sup>** – **0.0%** |
| 4535 | DSG TopCo, Inc. | 60846 |
| **Life Sciences Tools & Services** – **0.4%** | **Life Sciences Tools & Services** – **0.4%** | **Life Sciences Tools & Services** – **0.4%** |
| 56090 | Danaher Corp. | 11058704 |
| **Machinery** – **0.6%** | **Machinery** – **0.6%** | **Machinery** – **0.6%** |
| 22228 | Caterpillar, Inc. | 9736309 |
| 23534 | Illinois Tool Works, Inc. | 6023998 |
|  |  | 15760307 |
| **Media** – **0.5%** | **Media** – **0.5%** | **Media** – **0.5%** |
| 4011 | Audacy Capital Corp. Class B<sup>(i)</sup> | 52143 |
| 36581 | Audacy Capital LLC Class A<sup>(i)</sup> | 461835 |
| 194739 | Bright Pattern Holdco<sup>(e)(i)</sup> | 195 |
| 635140 | iHeartMedia, Inc. Class A<sup>(i)</sup> | 1187712 |
| 105780 | New York Times Co. Class A | 5488924 |
| 77677 | Omnicom Group, Inc. | 5596628 |
| 35685 | SES SA<sup>(i)</sup> | 410377 |
|  |  | 13197814 |
| **Metals & Mining** – **0.9%** | **Metals & Mining** – **0.9%** | **Metals & Mining** – **0.9%** |
| 227251 | Freeport-McMoRan, Inc. | 9144580 |
| 222350 | Rio Tinto PLC ADR | 13289860 |
|  |  | 22434440 |
| **Multi-Utilities** – **2.0%** | **Multi-Utilities** – **2.0%** | **Multi-Utilities** – **2.0%** |
| 127834 | Ameren Corp. | 12927852 |
| 161920 | CMS Energy Corp. | 11949696 |
| 186524 | Dominion Energy, Inc. | 10902328 |
| 143990 | National Grid PLC ADR | 10135456 |
| 87156 | Sempra | 7118902 |
|  |  | 53034234 |
| **Office REITs** – **0.1%** | **Office REITs** – **0.1%** | **Office REITs** – **0.1%** |
| 57966 | BXP, Inc. | 3792715 |
| **Oil, Gas & Consumable Fuels** – **2.4%** | **Oil, Gas & Consumable Fuels** – **2.4%** | **Oil, Gas & Consumable Fuels** – **2.4%** |
| 168899 | BP PLC ADR | 5430103 |
| 108058 | ConocoPhillips | 10302250 |
| 58591 | EOG Resources, Inc. | 7032092 |
| 2642 | Expand Energy Corp. | 276829 |
| 150144 | Exxon Mobil Corp. | 16762076 |
| 53601 | Phillips 66 | 6624011 |

---

------

GOLDMAN SACHS INCOME BUILDER FUND

*July 31, 2025 (Unaudited)* 

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **Common Stocks** – **(continued)** | **Common Stocks** – **(continued)** | **Common Stocks** – **(continued)** |
| **Oil, Gas & Consumable Fuels** – **(continued)** | **Oil, Gas & Consumable Fuels** – **(continued)** | **Oil, Gas & Consumable Fuels** – **(continued)** |
| &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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230926 | Shell PLC ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$16675166 |
|  |  | 63102527 |
| **Personal Products** – **0.7%** | **Personal Products** – **0.7%** | **Personal Products** – **0.7%** |
| 404070 | Kenvue, Inc. | 8663261 |
| 150607 | Unilever PLC ADR | 8799967 |
|  |  | 17463228 |
| **Pharmaceuticals** – **1.9%** | **Pharmaceuticals** – **1.9%** | **Pharmaceuticals** – **1.9%** |
| 128221 | AstraZeneca PLC ADR | 9371673 |
| 6260 | Eli Lilly & Co. | 4632838 |
| 110501 | Johnson & Johnson | 18203935 |
| 113250 | Merck & Co., Inc. | 8847090 |
| 203042 | Roche Holding AG ADR | 7900364 |
|  |  | 48955900 |
| **Real Estate Management & Development<sup>(b)</sup>** – **0.0%** | **Real Estate Management & Development<sup>(b)</sup>** – **0.0%** | **Real Estate Management & Development<sup>(b)</sup>** – **0.0%** |
| 122732 | Sunac Services Holdings Ltd. | 27964 |
| **Residential REITs** – **0.2%** | **Residential REITs** – **0.2%** | **Residential REITs** – **0.2%** |
| 34248 | AvalonBay Communities, Inc. | 6379717 |
| **Retail REITs** – **0.2%** | **Retail REITs** – **0.2%** | **Retail REITs** – **0.2%** |
| 78311 | Regency Centers Corp. | 5591405 |
| **Semiconductors & Semiconductor Equipment** – **1.3%** | **Semiconductors & Semiconductor Equipment** – **1.3%** | **Semiconductors & Semiconductor Equipment** – **1.3%** |
| 23240 | Broadcom, Inc. | 6825588 |
| 7297 | KLA Corp. | 6414282 |
| 58342 | Taiwan Semiconductor |  |
|  | Manufacturing Co. Ltd. ADR | 14096594 |
| 30959 | Texas Instruments, Inc. | 5605437 |
|  |  | 32941901 |
| **Software** – **1.4%** | **Software** – **1.4%** | **Software** – **1.4%** |
| 22119 | Microsoft Corp. | 11800487 |
| 69514 | Oracle Corp. | 17640568 |
| 31437 | Salesforce, Inc. | 8121120 |
|  |  | 37562175 |
| **Specialized REITs** – **0.2%** | **Specialized REITs** – **0.2%** | **Specialized REITs** – **0.2%** |
| 34042 | Digital Realty Trust, Inc. | 6006371 |
| **Specialty Retail** – **0.5%** | **Specialty Retail** – **0.5%** | **Specialty Retail** – **0.5%** |
| 52578 | Lowe's Cos., Inc. | 11754864 |
| **Technology Hardware, Storage & Peripherals** – **0.3%** | **Technology Hardware, Storage & Peripherals** – **0.3%** | **Technology Hardware, Storage & Peripherals** – **0.3%** |
| 327651 | Hewlett Packard Enterprise Co. | 6779099 |
| **Trading Companies & Distributors** – **0.4%** | **Trading Companies & Distributors** – **0.4%** | **Trading Companies & Distributors** – **0.4%** |
| 249066 | Fastenal Co. | 11489415 |
| **Water Utilities** – **0.2%** | **Water Utilities** – **0.2%** | **Water Utilities** – **0.2%** |
| 40234 | American Water Works Co., Inc. | 5642416 |
| **TOTAL COMMON STOCKS**<br> **(Cost $667,860,405)** | **TOTAL COMMON STOCKS**<br> **(Cost $667,860,405)** | $924522129 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal**<br> **Amount** | **Interest**<br> **Rate** | **Maturity**<br> **Date** | **Value** |
| **Bank Loans<sup>(j)</sup>** – **6.0%** | **Bank Loans<sup>(j)</sup>** – **6.0%** | **Bank Loans<sup>(j)</sup>** – **6.0%** | **Bank Loans<sup>(j)</sup>** – **6.0%** |
| **Aerospace & Defense** – **0.3%** | **Aerospace & Defense** – **0.3%** | **Aerospace & Defense** – **0.3%** | **Aerospace & Defense** – **0.3%** |
| Bleriot U.S. Bidco, Inc. (3 mo. USD Term SOFR + 2.750%) | Bleriot U.S. Bidco, Inc. (3 mo. USD Term SOFR + 2.750%) | Bleriot U.S. Bidco, Inc. (3 mo. USD Term SOFR + 2.750%) | Bleriot U.S. Bidco, Inc. (3 mo. USD Term SOFR + 2.750%) |
| 1262274 | 6.808% | 10/31/30 | $1263460 |
| Dynasty Acquisition Co., Inc. | Dynasty Acquisition Co., Inc. | Dynasty Acquisition Co., Inc. | Dynasty Acquisition Co., Inc. |
| (1 mo. USD Term SOFR + 2.000%) | (1 mo. USD Term SOFR + 2.000%) | (1 mo. USD Term SOFR + 2.000%) | (1 mo. USD Term SOFR + 2.000%) |
| 1940250 | 6.356 | 10/31/31 | 1944500 |
| Kaman Corp. | Kaman Corp. | Kaman Corp. | Kaman Corp. |
| (3 mo. USD Term SOFR + 2.750%) | (3 mo. USD Term SOFR + 2.750%) | (3 mo. USD Term SOFR + 2.750%) | (3 mo. USD Term SOFR + 2.750%) |
| 310345 | 7.079 | 02/26/32 | 310441 |
| 3289655 | 7.083 | 02/26/32 | 3290675 |
|  |  |  | 6809076 |
| **Auto Parts & Equipment** – **0.4%** | **Auto Parts & Equipment** – **0.4%** | **Auto Parts & Equipment** – **0.4%** | **Auto Parts & Equipment** – **0.4%** |
| First Brands Group LLC | First Brands Group LLC | First Brands Group LLC | First Brands Group LLC |
| (3 mo. USD Term SOFR + 8.500%) | (3 mo. USD Term SOFR + 8.500%) | (3 mo. USD Term SOFR + 8.500%) | (3 mo. USD Term SOFR + 8.500%) |
| 2900000 | 13.070 | 03/30/28 | 2711500 |
| (3 mo. USD Term SOFR + 5.000%) | (3 mo. USD Term SOFR + 5.000%) | (3 mo. USD Term SOFR + 5.000%) | (3 mo. USD Term SOFR + 5.000%) |
| 3899097 | 9.570 | 03/30/27 | 3805784 |
| Garrett LX I SARL (3 mo. USD Term SOFR + 2.250%) | Garrett LX I SARL (3 mo. USD Term SOFR + 2.250%) | Garrett LX I SARL (3 mo. USD Term SOFR + 2.250%) | Garrett LX I SARL (3 mo. USD Term SOFR + 2.250%) |
| 2702228 | 6.308 | 01/30/32 | 2707308 |
|  |  |  | 9224592 |
| **Beverages** – **0.1%** | **Beverages** – **0.1%** | **Beverages** – **0.1%** | **Beverages** – **0.1%** |
| Sazerac Co., Inc. (3 mo. USD Term SOFR + 2.500%) | Sazerac Co., Inc. (3 mo. USD Term SOFR + 2.500%) | Sazerac Co., Inc. (3 mo. USD Term SOFR + 2.500%) | Sazerac Co., Inc. (3 mo. USD Term SOFR + 2.500%) |
| 2100000 | 6.840 | 07/09/32 | 2106573 |
| **Building & Construction** – **0.2%** | **Building & Construction** – **0.2%** | **Building & Construction** – **0.2%** | **Building & Construction** – **0.2%** |
| AAL Delaware Holdco, Inc. (1 mo. USD Term SOFR + 2.750%) | AAL Delaware Holdco, Inc. (1 mo. USD Term SOFR + 2.750%) | AAL Delaware Holdco, Inc. (1 mo. USD Term SOFR + 2.750%) | AAL Delaware Holdco, Inc. (1 mo. USD Term SOFR + 2.750%) |
| 4515932 | 7.106 | 07/30/31 | 4515932 |
| **Building Materials** – **0.3%** | **Building Materials** – **0.3%** | **Building Materials** – **0.3%** | **Building Materials** – **0.3%** |
| Chamberlain Group, Inc. (1 mo. USD Term SOFR + 3.250%) | Chamberlain Group, Inc. (1 mo. USD Term SOFR + 3.250%) | Chamberlain Group, Inc. (1 mo. USD Term SOFR + 3.250%) | Chamberlain Group, Inc. (1 mo. USD Term SOFR + 3.250%) |
| 4270125 | 7.706 | 11/03/28 | 4269442 |
| Icebox Holdco III, Inc. | Icebox Holdco III, Inc. | Icebox Holdco III, Inc. | Icebox Holdco III, Inc. |
| (3 mo. USD Term SOFR + 3.500%) | (3 mo. USD Term SOFR + 3.500%) | (3 mo. USD Term SOFR + 3.500%) | (3 mo. USD Term SOFR + 3.500%) |
| 2154556 | 8.057 | 12/22/28 | 2160459 |
| (3 mo. USD Term SOFR + 6.750%) | (3 mo. USD Term SOFR + 6.750%) | (3 mo. USD Term SOFR + 6.750%) | (3 mo. USD Term SOFR + 6.750%) |
| 625000 | 11.307 | 12/21/29 | 632031 |
|  |  |  | 7061932 |
| **Chemicals** – **0.3%** | **Chemicals** – **0.3%** | **Chemicals** – **0.3%** | **Chemicals** – **0.3%** |
| Illuminate Buyer LLC (1 mo. USD Term SOFR + 3.000%) | Illuminate Buyer LLC (1 mo. USD Term SOFR + 3.000%) | Illuminate Buyer LLC (1 mo. USD Term SOFR + 3.000%) | Illuminate Buyer LLC (1 mo. USD Term SOFR + 3.000%) |
| 4515875 | 7.356 | 12/31/29 | 4522332 |
| Nouryon Finance BV (3 mo. USD Term SOFR + 3.250%) | Nouryon Finance BV (3 mo. USD Term SOFR + 3.250%) | Nouryon Finance BV (3 mo. USD Term SOFR + 3.250%) | Nouryon Finance BV (3 mo. USD Term SOFR + 3.250%) |
| 4439113 | 7.510 | 04/03/28 | 4436361 |
|  |  |  | 8958693 |
| **Commercial Services** – **0.9%** | **Commercial Services** – **0.9%** | **Commercial Services** – **0.9%** | **Commercial Services** – **0.9%** |
| Albion Financing 3 SARL (1 mo. USD Term SOFR + 3.000%) | Albion Financing 3 SARL (1 mo. USD Term SOFR + 3.000%) | Albion Financing 3 SARL (1 mo. USD Term SOFR + 3.000%) | Albion Financing 3 SARL (1 mo. USD Term SOFR + 3.000%) |
| 2932949 | 7.316 | 05/21/31 | 2943214 |
| Ankura Consulting Group LLC (3 mo. USD Term SOFR + 3.500%) | Ankura Consulting Group LLC (3 mo. USD Term SOFR + 3.500%) | Ankura Consulting Group LLC (3 mo. USD Term SOFR + 3.500%) | Ankura Consulting Group LLC (3 mo. USD Term SOFR + 3.500%) |
| 4900375 | 7.802 | 12/29/31 | 4912626 |
| Anticimex International AB (3 mo. USD Term SOFR + 3.400%) | Anticimex International AB (3 mo. USD Term SOFR + 3.400%) | Anticimex International AB (3 mo. USD Term SOFR + 3.400%) | Anticimex International AB (3 mo. USD Term SOFR + 3.400%) |
| 4817599 | 7.660 | 11/16/28 | 4823532 |
| Fugue Finance LLC (1 mo. USD Term SOFR + 2.750%) | Fugue Finance LLC (1 mo. USD Term SOFR + 2.750%) | Fugue Finance LLC (1 mo. USD Term SOFR + 2.750%) | Fugue Finance LLC (1 mo. USD Term SOFR + 2.750%) |
| 4613437 | 7.097 | 01/09/32 | 4629077 |

---

------

GOLDMAN SACHS INCOME BUILDER FUND

*July 31, 2025 (Unaudited)* 

---

| | | | |
|:---|:---|:---|:---|
| **Principal**<br> **Amount** | **Interest**<br> **Rate** | **Maturity**<br> **Date** | **Value** |
| **Bank Loans<sup>(j)</sup>** – **(continued)** | **Bank Loans<sup>(j)</sup>** – **(continued)** | **Bank Loans<sup>(j)</sup>** – **(continued)** | **Bank Loans<sup>(j)</sup>** – **(continued)** |
| **Commercial Services** – **(continued)** | **Commercial Services** – **(continued)** | **Commercial Services** – **(continued)** | **Commercial Services** – **(continued)** |
| TruGreen LP (3 mo. USD Term SOFR + 8.500%) | TruGreen LP (3 mo. USD Term SOFR + 8.500%) | TruGreen LP (3 mo. USD Term SOFR + 8.500%) | TruGreen LP (3 mo. USD Term SOFR + 8.500%) |
| 1750000 | 13.070% | 11/02/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1443750 |
| Veritiv Corp. (3 mo. USD Term SOFR + 4.000%) | Veritiv Corp. (3 mo. USD Term SOFR + 4.000%) | Veritiv Corp. (3 mo. USD Term SOFR + 4.000%) | Veritiv Corp. (3 mo. USD Term SOFR + 4.000%) |
| 4626692 | 8.296 | 11/30/30 | 4641173 |
|  |  |  | 23393372 |
| **Computers** – **0.4%** | **Computers** – **0.4%** | **Computers** – **0.4%** | **Computers** – **0.4%** |
| Kaseya, Inc. | Kaseya, Inc. | Kaseya, Inc. | Kaseya, Inc. |
| (1 mo. USD Term SOFR + 3.250%) | (1 mo. USD Term SOFR + 3.250%) | (1 mo. USD Term SOFR + 3.250%) | (1 mo. USD Term SOFR + 3.250%) |
| 3441375 | 7.606 | 03/20/32 | 3448912 |
| (1 mo. USD Term SOFR + 5.000%) | (1 mo. USD Term SOFR + 5.000%) | (1 mo. USD Term SOFR + 5.000%) | (1 mo. USD Term SOFR + 5.000%) |
| 2525000 | 9.356 | 03/18/33 | 2532903 |
| McAfee LLC (1 mo. USD Term SOFR + 3.000%) | McAfee LLC (1 mo. USD Term SOFR + 3.000%) | McAfee LLC (1 mo. USD Term SOFR + 3.000%) | McAfee LLC (1 mo. USD Term SOFR + 3.000%) |
| 3930250 | 7.327 | 03/01/29 | 3791866 |
| Virtusa Corp. (1 mo. USD Term SOFR + 3.250%) | Virtusa Corp. (1 mo. USD Term SOFR + 3.250%) | Virtusa Corp. (1 mo. USD Term SOFR + 3.250%) | Virtusa Corp. (1 mo. USD Term SOFR + 3.250%) |
| 1855530 | 7.606 | 02/15/29 | 1853211 |
|  |  |  | 11626892 |
| **Diversified Financial Services** – **0.1%** | **Diversified Financial Services** – **0.1%** | **Diversified Financial Services** – **0.1%** | **Diversified Financial Services** – **0.1%** |
| Fiserv Investment Solutions, Inc. (3 mo. USD Term SOFR + 4.000%) | Fiserv Investment Solutions, Inc. (3 mo. USD Term SOFR + 4.000%) | Fiserv Investment Solutions, Inc. (3 mo. USD Term SOFR + 4.000%) | Fiserv Investment Solutions, Inc. (3 mo. USD Term SOFR + 4.000%) |
| 617500 | 8.322 | 02/18/27 | 608237 |
| FNZ Group Services Ltd. (3 mo. USD Term SOFR + 5.000%) | FNZ Group Services Ltd. (3 mo. USD Term SOFR + 5.000%) | FNZ Group Services Ltd. (3 mo. USD Term SOFR + 5.000%) | FNZ Group Services Ltd. (3 mo. USD Term SOFR + 5.000%) |
| 1246875 | 9.260 | 11/05/31 | 1004981 |
| GEN II Fund Services LLC (6 mo. USD Term SOFR + 2.750%) | GEN II Fund Services LLC (6 mo. USD Term SOFR + 2.750%) | GEN II Fund Services LLC (6 mo. USD Term SOFR + 2.750%) | GEN II Fund Services LLC (6 mo. USD Term SOFR + 2.750%) |
| 2294250 | 6.967 | 11/26/31 | 2297118 |
|  |  |  | 3910336 |
| **Electric** – **0.2%** | **Electric** – **0.2%** | **Electric** – **0.2%** | **Electric** – **0.2%** |
| Kohler Energy Co. LLC (3 mo. USD Term SOFR + 3.750%) | Kohler Energy Co. LLC (3 mo. USD Term SOFR + 3.750%) | Kohler Energy Co. LLC (3 mo. USD Term SOFR + 3.750%) | Kohler Energy Co. LLC (3 mo. USD Term SOFR + 3.750%) |
| 4292792 | 8.046 | 05/01/31 | 4310220 |
| **Electronics** – **0.1%** | **Electronics** – **0.1%** | **Electronics** – **0.1%** | **Electronics** – **0.1%** |
| LSF12 Crown U.S. Commercial Bidco LLC (1 mo.USD Term SOFR + 3.500%) | LSF12 Crown U.S. Commercial Bidco LLC (1 mo.USD Term SOFR + 3.500%) | LSF12 Crown U.S. Commercial Bidco LLC (1 mo.USD Term SOFR + 3.500%) | LSF12 Crown U.S. Commercial Bidco LLC (1 mo.USD Term SOFR + 3.500%) |
| 2100000 | 7.856 | 12/02/31 | 2111382 |
| **Engineering & Construction** – **0.2%** | **Engineering & Construction** – **0.2%** | **Engineering & Construction** – **0.2%** | **Engineering & Construction** – **0.2%** |
| Brown Group Holding LLC | Brown Group Holding LLC | Brown Group Holding LLC | Brown Group Holding LLC |
| (1 mo. USD Term SOFR + 2.500%) | (1 mo. USD Term SOFR + 2.500%) | (1 mo. USD Term SOFR + 2.500%) | (1 mo. USD Term SOFR + 2.500%) |
| 957726 | 6.856 | 07/01/31 | 958387 |
| (1 mo. USD Term SOFR + 2.500%) – (3 mo. USD Term SOFR + 2.500%) | (1 mo. USD Term SOFR + 2.500%) – (3 mo. USD Term SOFR + 2.500%) | (1 mo. USD Term SOFR + 2.500%) – (3 mo. USD Term SOFR + 2.500%) | (1 mo. USD Term SOFR + 2.500%) – (3 mo. USD Term SOFR + 2.500%) |
| 1621826 | 6.833 – 7.106 | 07/01/31 | 1623432 |
| Construction Partners, Inc. (1 mo. USD Term SOFR + 2.500%) | Construction Partners, Inc. (1 mo. USD Term SOFR + 2.500%) | Construction Partners, Inc. (1 mo. USD Term SOFR + 2.500%) | Construction Partners, Inc. (1 mo. USD Term SOFR + 2.500%) |
| 597000 | 6.856 | 11/03/31 | 599239 |
| TRC Cos. LLC (1 mo.USD Term SOFR + 3.000%) | TRC Cos. LLC (1 mo.USD Term SOFR + 3.000%) | TRC Cos. LLC (1 mo.USD Term SOFR + 3.000%) | TRC Cos. LLC (1 mo.USD Term SOFR + 3.000%) |
| 3359189 | 7.356 | 12/08/28 | 3355830 |
|  |  |  | 6536888 |
| **Entertainment** – **0.1%** | **Entertainment** – **0.1%** | **Entertainment** – **0.1%** | **Entertainment** – **0.1%** |
| Crown Finance U.S., Inc. (1 mo. USD Term SOFR + 4.500%) | Crown Finance U.S., Inc. (1 mo. USD Term SOFR + 4.500%) | Crown Finance U.S., Inc. (1 mo. USD Term SOFR + 4.500%) | Crown Finance U.S., Inc. (1 mo. USD Term SOFR + 4.500%) |
| 2611875 | 8.829 | 12/02/31 | 2601349 |
| **Health Care Services** – **0.1%** | **Health Care Services** – **0.1%** | **Health Care Services** – **0.1%** | **Health Care Services** – **0.1%** |
| LifePoint Health, Inc. | LifePoint Health, Inc. | LifePoint Health, Inc. | LifePoint Health, Inc. |
| (3 mo. USD Term SOFR + 3.750%) | (3 mo. USD Term SOFR + 3.750%) | (3 mo. USD Term SOFR + 3.750%) | (3 mo. USD Term SOFR + 3.750%) |
| 1276740 | 8.068 | 05/19/31 | 1273420 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal**<br> **Amount** | **Interest**<br> **Rate** | **Maturity**<br> **Date** | **Value** |
| **Bank Loans<sup>(j)</sup>** – **(continued)** | **Bank Loans<sup>(j)</sup>** – **(continued)** | **Bank Loans<sup>(j)</sup>** – **(continued)** | **Bank Loans<sup>(j)</sup>** – **(continued)** |
| **Health Care Services** – **(continued)** | **Health Care Services** – **(continued)** | **Health Care Services** – **(continued)** | **Health Care Services** – **(continued)** |
| Onex TSG Intermediate Corp.<sup>(k)</sup>  | Onex TSG Intermediate Corp.<sup>(k)</sup>  | Onex TSG Intermediate Corp.<sup>(k)</sup>  | Onex TSG Intermediate Corp.<sup>(k)</sup>  |
| 1325000 | 0.000% | 07/23/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1326100 |
|  |  |  | 2599520 |
| **Insurance** – **0.3%** | **Insurance** – **0.3%** | **Insurance** – **0.3%** | **Insurance** – **0.3%** |
| Asurion LLC (1 mo. USD Term SOFR + 3.250%) | Asurion LLC (1 mo. USD Term SOFR + 3.250%) | Asurion LLC (1 mo. USD Term SOFR + 3.250%) | Asurion LLC (1 mo. USD Term SOFR + 3.250%) |
| 2453594 | 7.721 | 07/31/27 | 2452269 |
| Broadstreet Partners, Inc. (1 mo. USD Term SOFR + 2.750%) | Broadstreet Partners, Inc. (1 mo. USD Term SOFR + 2.750%) | Broadstreet Partners, Inc. (1 mo. USD Term SOFR + 2.750%) | Broadstreet Partners, Inc. (1 mo. USD Term SOFR + 2.750%) |
| 650000 | 7.106 | 06/13/31 | 650370 |
| Truist Insurance Holdings LLC (3 mo. USD Term SOFR + 2.750%) | Truist Insurance Holdings LLC (3 mo. USD Term SOFR + 2.750%) | Truist Insurance Holdings LLC (3 mo. USD Term SOFR + 2.750%) | Truist Insurance Holdings LLC (3 mo. USD Term SOFR + 2.750%) |
| 4650000 | 7.046 | 05/06/31 | 4648047 |
|  |  |  | 7750686 |
| **Internet** – **0.2%** | **Internet** – **0.2%** | **Internet** – **0.2%** | **Internet** – **0.2%** |
| Diamond Sports Group LLC (Fixed + 15.000%) | Diamond Sports Group LLC (Fixed + 15.000%) | Diamond Sports Group LLC (Fixed + 15.000%) | Diamond Sports Group LLC (Fixed + 15.000%) |
| 88378 | 0.000 | 01/02/28 | 76889 |
| Plano HoldCo, Inc. (3 mo. USD Term SOFR + 3.500%) | Plano HoldCo, Inc. (3 mo. USD Term SOFR + 3.500%) | Plano HoldCo, Inc. (3 mo. USD Term SOFR + 3.500%) | Plano HoldCo, Inc. (3 mo. USD Term SOFR + 3.500%) |
| 3092250 | 7.796 | 10/02/31 | 2991752 |
| Syndigo LLC (3 mo. USD Term SOFR + 4.500%) | Syndigo LLC (3 mo. USD Term SOFR + 4.500%) | Syndigo LLC (3 mo. USD Term SOFR + 4.500%) | Syndigo LLC (3 mo. USD Term SOFR + 4.500%) |
| 1986813 | 9.094 | 12/15/27 | 1988064 |
|  |  |  | 5056705 |
| **Leisure Time** – **0.1%** | **Leisure Time** – **0.1%** | **Leisure Time** – **0.1%** | **Leisure Time** – **0.1%** |
| Arcis Golf LLC (1 mo. USD Term SOFR + 2.750%) | Arcis Golf LLC (1 mo. USD Term SOFR + 2.750%) | Arcis Golf LLC (1 mo. USD Term SOFR + 2.750%) | Arcis Golf LLC (1 mo. USD Term SOFR + 2.750%) |
| 1970064 | 7.106 | 11/24/28 | 1970064 |
| **Machinery-Diversified** – **0.3%** | **Machinery-Diversified** – **0.3%** | **Machinery-Diversified** – **0.3%** | **Machinery-Diversified** – **0.3%** |
| Clark Equipment Co. (3 mo. USD Term SOFR + 2.000%) | Clark Equipment Co. (3 mo. USD Term SOFR + 2.000%) | Clark Equipment Co. (3 mo. USD Term SOFR + 2.000%) | Clark Equipment Co. (3 mo. USD Term SOFR + 2.000%) |
| 297939 | 6.296 | 04/20/29 | 298872 |
| Engineered Machinery Holdings, Inc. | Engineered Machinery Holdings, Inc. | Engineered Machinery Holdings, Inc. | Engineered Machinery Holdings, Inc. |
| (3 mo. EUR Euribor + 3.750%) | (3 mo. EUR Euribor + 3.750%) | (3 mo. EUR Euribor + 3.750%) | (3 mo. EUR Euribor + 3.750%) |
| 842188 | 5.730 | 05/21/28 | 962305 |
| (3 mo. USD Term SOFR + 3.500%) | (3 mo. USD Term SOFR + 3.500%) | (3 mo. USD Term SOFR + 3.500%) | (3 mo. USD Term SOFR + 3.500%) |
| 1805635 | 8.057 | 05/19/28 | 1814013 |
| TK Elevator Midco GmbH (6 mo. USD Term SOFR + 3.000%) | TK Elevator Midco GmbH (6 mo. USD Term SOFR + 3.000%) | TK Elevator Midco GmbH (6 mo. USD Term SOFR + 3.000%) | TK Elevator Midco GmbH (6 mo. USD Term SOFR + 3.000%) |
| 4549520 | 7.197 | 04/30/30 | 4572268 |
|  |  |  | 7647458 |
| **Media** – **0.0%** | **Media** – **0.0%** | **Media** – **0.0%** | **Media** – **0.0%** |
| Audacy Capital Corp. | Audacy Capital Corp. | Audacy Capital Corp. | Audacy Capital Corp. |
| (1 mo. USD Term SOFR + 6.000%) | (1 mo. USD Term SOFR + 6.000%) | (1 mo. USD Term SOFR + 6.000%) | (1 mo. USD Term SOFR + 6.000%) |
| 1069140 | 10.471 | 10/01/29 | 859321 |
| (1 mo. USD Term SOFR + 7.000%) | (1 mo. USD Term SOFR + 7.000%) | (1 mo. USD Term SOFR + 7.000%) | (1 mo. USD Term SOFR + 7.000%) |
| 119349 | 11.471 | 10/02/28 | 118156 |
| Cumulus Media New Holdings, Inc. (3 mo. USD Term SOFR + 5.000%) | Cumulus Media New Holdings, Inc. (3 mo. USD Term SOFR + 5.000%) | Cumulus Media New Holdings, Inc. (3 mo. USD Term SOFR + 5.000%) | Cumulus Media New Holdings, Inc. (3 mo. USD Term SOFR + 5.000%) |
| 572401 | 9.260 | 05/02/29 | 145962 |
| DirecTV Financing LLC (3 mo. USD Term SOFR + 5.000%) | DirecTV Financing LLC (3 mo. USD Term SOFR + 5.000%) | DirecTV Financing LLC (3 mo. USD Term SOFR + 5.000%) | DirecTV Financing LLC (3 mo. USD Term SOFR + 5.000%) |
| 288253 | 9.570 | 08/02/27 | 288740 |
|  |  |  | 1412179 |
| **Metal Fabricate & Hardware** – **0.1%** | **Metal Fabricate & Hardware** – **0.1%** | **Metal Fabricate & Hardware** – **0.1%** | **Metal Fabricate & Hardware** – **0.1%** |
| Grinding Media, Inc. (3 mo. USD Term SOFR + 3.500%) | Grinding Media, Inc. (3 mo. USD Term SOFR + 3.500%) | Grinding Media, Inc. (3 mo. USD Term SOFR + 3.500%) | Grinding Media, Inc. (3 mo. USD Term SOFR + 3.500%) |
| 2575289 | 7.830 | 10/12/28 | 2568851 |

---

------

GOLDMAN SACHS INCOME BUILDER FUND

*July 31, 2025 (Unaudited)* 

---

| | | | |
|:---|:---|:---|:---|
| **Principal**<br> **Amount** | **Interest<br>Rate** | **Maturity<br>Date** | **Value** |
| **Bank Loans<sup>(j)</sup>** – **(continued)** | **Bank Loans<sup>(j)</sup>** – **(continued)** | **Bank Loans<sup>(j)</sup>** – **(continued)** | **Bank Loans<sup>(j)</sup>** – **(continued)** |
| **Office & Business Equipment** – **0.1%** | **Office & Business Equipment** – **0.1%** | **Office & Business Equipment** – **0.1%** | **Office & Business Equipment** – **0.1%** |
| Pitney Bowes, Inc. (1 mo. USD Term SOFR + 3.750%) | Pitney Bowes, Inc. (1 mo. USD Term SOFR + 3.750%) | Pitney Bowes, Inc. (1 mo. USD Term SOFR + 3.750%) | Pitney Bowes, Inc. (1 mo. USD Term SOFR + 3.750%) |
| 3341625 | 8.106% | 03/19/32 | $3341625 |
| **Packaging** – **0.1%** | **Packaging** – **0.1%** | **Packaging** – **0.1%** | **Packaging** – **0.1%** |
| LABL, Inc. (1 mo. USD Term SOFR + 5.000%) | LABL, Inc. (1 mo. USD Term SOFR + 5.000%) | LABL, Inc. (1 mo. USD Term SOFR + 5.000%) | LABL, Inc. (1 mo. USD Term SOFR + 5.000%) |
| 1833500 | 9.456 | 10/30/28 | 1655559 |
| **Pipelines** – **0.5%** | **Pipelines** – **0.5%** | **Pipelines** – **0.5%** | **Pipelines** – **0.5%** |
| AL GCX Holdings LLC (1 mo. USD Term SOFR + 2.000%) | AL GCX Holdings LLC (1 mo. USD Term SOFR + 2.000%) | AL GCX Holdings LLC (1 mo. USD Term SOFR + 2.000%) | AL GCX Holdings LLC (1 mo. USD Term SOFR + 2.000%) |
| 5771890 | 6.325 | 05/17/29 | 5775988 |
| CQP Holdco LP (3 mo. USD Term SOFR + 2.000%) | CQP Holdco LP (3 mo. USD Term SOFR + 2.000%) | CQP Holdco LP (3 mo. USD Term SOFR + 2.000%) | CQP Holdco LP (3 mo. USD Term SOFR + 2.000%) |
| 2947759 | 6.296 | 12/31/30 | 2948879 |
| Prairie Acquiror LP (1 mo. USD Term SOFR + 3.750%) | Prairie Acquiror LP (1 mo. USD Term SOFR + 3.750%) | Prairie Acquiror LP (1 mo. USD Term SOFR + 3.750%) | Prairie Acquiror LP (1 mo. USD Term SOFR + 3.750%) |
| 3300062 | 8.106 | 08/01/29 | 3318642 |
|  |  |  | 12043509 |
| **Retail** – **0.0%** | **Retail** – **0.0%** | **Retail** – **0.0%** | **Retail** – **0.0%** |
| Harbor Freight Tools USA, Inc. (1 mo. USD Term SOFR + 2.250%) | Harbor Freight Tools USA, Inc. (1 mo. USD Term SOFR + 2.250%) | Harbor Freight Tools USA, Inc. (1 mo. USD Term SOFR + 2.250%) | Harbor Freight Tools USA, Inc. (1 mo. USD Term SOFR + 2.250%) |
| 1369970 | 6.606 | 06/11/31 | 1339283 |
| **Software** – **0.6%** | **Software** – **0.6%** | **Software** – **0.6%** | **Software** – **0.6%** |
| Athenahealth Group, Inc. (1 mo. USD Term SOFR + 2.750%) | Athenahealth Group, Inc. (1 mo. USD Term SOFR + 2.750%) | Athenahealth Group, Inc. (1 mo. USD Term SOFR + 2.750%) | Athenahealth Group, Inc. (1 mo. USD Term SOFR + 2.750%) |
| 2340971 | 7.106 | 02/15/29 | 2337530 |
| ConnectWise LLC (3 mo. USD Term SOFR + 3.500%) | ConnectWise LLC (3 mo. USD Term SOFR + 3.500%) | ConnectWise LLC (3 mo. USD Term SOFR + 3.500%) | ConnectWise LLC (3 mo. USD Term SOFR + 3.500%) |
| 4589331 | 8.057 | 09/29/28 | 4601631 |
| Drake Software LLC (3 mo. USD Term SOFR + 4.250%) | Drake Software LLC (3 mo. USD Term SOFR + 4.250%) | Drake Software LLC (3 mo. USD Term SOFR + 4.250%) | Drake Software LLC (3 mo. USD Term SOFR + 4.250%) |
| 2183340 | 8.546 | 06/26/31 | 2179257 |
| Dun & Bradstreet Corp. (1 mo. USD Term SOFR + 2.250%) | Dun & Bradstreet Corp. (1 mo. USD Term SOFR + 2.250%) | Dun & Bradstreet Corp. (1 mo. USD Term SOFR + 2.250%) | Dun & Bradstreet Corp. (1 mo. USD Term SOFR + 2.250%) |
| 3285266 | 6.603 | 01/18/29 | 3284214 |
| iSolved, Inc. (1 mo. USD Term SOFR + 2.750%) | iSolved, Inc. (1 mo. USD Term SOFR + 2.750%) | iSolved, Inc. (1 mo. USD Term SOFR + 2.750%) | iSolved, Inc. (1 mo. USD Term SOFR + 2.750%) |
| 1210917 | 7.103 | 10/14/30 | 1213944 |
| UKG, Inc. (3 mo. USD Term SOFR + 2.500%) | UKG, Inc. (3 mo. USD Term SOFR + 2.500%) | UKG, Inc. (3 mo. USD Term SOFR + 2.500%) | UKG, Inc. (3 mo. USD Term SOFR + 2.500%) |
| 1207649 | 6.810 | 02/10/31 | 1207166 |
|  |  |  | 14823742 |
| **TOTAL BANK LOANS**<br> **(Cost $157,950,899)** | **TOTAL BANK LOANS**<br> **(Cost $157,950,899)** | **TOTAL BANK LOANS**<br> **(Cost $157,950,899)** | $155376418 |
| **Shares** | **Dividend**<br> **Rate** | **Dividend**<br> **Rate** | **Value** |
| **Preferred Stocks** – **0.3%** | **Preferred Stocks** – **0.3%** | **Preferred Stocks** – **0.3%** | **Preferred Stocks** – **0.3%** |
| **Capital Markets** – **0.2%** | **Capital Markets** – **0.2%** | **Capital Markets** – **0.2%** | **Capital Markets** – **0.2%** |
| Morgan Stanley | Morgan Stanley | Morgan Stanley | Morgan Stanley |
| 183597 | 6.375% | 6.375% | $4577073 |
| **Diversified Telecommunication Services** – **0.0%** | **Diversified Telecommunication Services** – **0.0%** | **Diversified Telecommunication Services** – **0.0%** | **Diversified Telecommunication Services** – **0.0%** |
| Qwest Corp. | Qwest Corp. | Qwest Corp. | Qwest Corp. |
| 43276 | 6.500 | 6.500 | 856865 |
| **Insurance<sup>(d)</sup>** – **0.1%** | **Insurance<sup>(d)</sup>** – **0.1%** | **Insurance<sup>(d)</sup>** – **0.1%** | **Insurance<sup>(d)</sup>** – **0.1%** |
| Delphi Financial Group, Inc. (3 mo. USD Term SOFR + 3.452%) | Delphi Financial Group, Inc. (3 mo. USD Term SOFR + 3.452%) | Delphi Financial Group, Inc. (3 mo. USD Term SOFR + 3.452%) | Delphi Financial Group, Inc. (3 mo. USD Term SOFR + 3.452%) |
| 143849 | 7.778 | 7.778 | 3506319 |
| **TOTAL PREFERRED STOCKS**<br> **(Cost $8,780,988)** | **TOTAL PREFERRED STOCKS**<br> **(Cost $8,780,988)** | **TOTAL PREFERRED STOCKS**<br> **(Cost $8,780,988)** | $8940257 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal**<br> **Amount** | **Interest**<br> **Rate** | **Maturity<br>Date** | **Value** |
| **Sovereign Debt Obligations – 0.2%** | **Sovereign Debt Obligations – 0.2%** | **Sovereign Debt Obligations – 0.2%** | **Sovereign Debt Obligations – 0.2%** |
| **United States Dollar** – **0.2%** | **United States Dollar** – **0.2%** | **United States Dollar** – **0.2%** | **United States Dollar** – **0.2%** |
| Angola Government International Bonds | Angola Government International Bonds | Angola Government International Bonds | Angola Government International Bonds |
| 200000 | 9.125% | 11/26/49 | $158312 |
| Benin Government International Bonds | Benin Government International Bonds | Benin Government International Bonds | Benin Government International Bonds |
| 131000 | 4.875 | 01/19/32 | 137083 |
| 220000 | 7.960 | 02/13/38 | 212782 |
| Ecuador Government International Bonds | Ecuador Government International Bonds | Ecuador Government International Bonds | Ecuador Government International Bonds |
| 57283 | 0.000 <sup>(h)</sup> | 07/31/30 | 41072 |
| 128344 | 6.900 <sup>(f)</sup> | 07/31/35 | 95488 |
| Egypt Government International Bonds | Egypt Government International Bonds | Egypt Government International Bonds | Egypt Government International Bonds |
| 200000 | 8.875 | 05/29/50 | 167190 |
| El Salvador Government International Bonds<sup>(a)</sup> | El Salvador Government International Bonds<sup>(a)</sup> | El Salvador Government International Bonds<sup>(a)</sup> | El Salvador Government International Bonds<sup>(a)</sup> |
| 720000 | 7.125 | 01/20/50 | 588636 |
| Hungary Government International Bonds | Hungary Government International Bonds | Hungary Government International Bonds | Hungary Government International Bonds |
| 730000 | 3.125 | 09/21/51 | 438460 |
| Ivory Coast Government International Bonds<sup>(b)</sup> | Ivory Coast Government International Bonds<sup>(b)</sup> | Ivory Coast Government International Bonds<sup>(b)</sup> | Ivory Coast Government International Bonds<sup>(b)</sup> |
| 212000 | 6.375 | 03/03/28 | 213325 |
| National Bank of Uzbekistan<sup>(a)</sup> | National Bank of Uzbekistan<sup>(a)</sup> | National Bank of Uzbekistan<sup>(a)</sup> | National Bank of Uzbekistan<sup>(a)</sup> |
| 786000 | 8.500 | 07/05/29 | 831195 |
| Nigeria Government International Bonds | Nigeria Government International Bonds | Nigeria Government International Bonds | Nigeria Government International Bonds |
| 400000 | 7.625 | 11/28/47 | 325624 |
| 320000 | 8.250 | 09/28/51 | 273200 |
| Pakistan Government International Bonds | Pakistan Government International Bonds | Pakistan Government International Bonds | Pakistan Government International Bonds |
| 540000 | 8.875 | 04/08/51 | 467100 |
| Panama Government International Bonds | Panama Government International Bonds | Panama Government International Bonds | Panama Government International Bonds |
| 930000 | 4.300 | 04/29/53 | 609964 |
| Republic of South Africa Government International Bonds | Republic of South Africa Government International Bonds | Republic of South Africa Government International Bonds | Republic of South Africa Government International Bonds |
| 710000 | 5.000 | 10/12/46 | 495225 |
| Romania Government International Bonds | Romania Government International Bonds | Romania Government International Bonds | Romania Government International Bonds |
| 150000 | 6.625 <sup>(b)</sup> | 05/16/36 | 150000 |
| 200000 | 4.000 | 02/14/51 | 129430 |
| Ukraine Government International Bonds<sup>(b)(f)</sup> | Ukraine Government International Bonds<sup>(b)(f)</sup> | Ukraine Government International Bonds<sup>(b)(f)</sup> | Ukraine Government International Bonds<sup>(b)(f)</sup> |
| 63457 | 1.750 | 02/01/29 | 38709 |
| 5777 | 0.000 | 02/01/30 | 2730 |
| 21588 | 0.000 | 02/01/34 | 8149 |
| 42304 | 1.750 | 02/01/34 | 21786 |
| 18243 | 0.000 | 02/01/35 | 8620 |
| 15203 | 0.000 | 02/01/36 | 7183 |
| **TOTAL SOVEREIGN DEBT OBLIGATIONS**<br> **(Cost $5,070,525)** | **TOTAL SOVEREIGN DEBT OBLIGATIONS**<br> **(Cost $5,070,525)** | **TOTAL SOVEREIGN DEBT OBLIGATIONS**<br> **(Cost $5,070,525)** | $5421263 |
| **Units** | **Expiration**<br> **Date** | **Expiration**<br> **Date** | **Value** |
| **Rights<sup>(i)</sup>** – **0.0%** | **Rights<sup>(i)</sup>** – **0.0%** | **Rights<sup>(i)</sup>** – **0.0%** | **Rights<sup>(i)</sup>** – **0.0%** |
| Cineworld Group PLC | Cineworld Group PLC | Cineworld Group PLC | Cineworld Group PLC |
| 27900 | 12/31/99 | 12/31/99 | $621640 |
| **(Cost $708,939)** | **(Cost $708,939)** | **(Cost $708,939)** | **(Cost $708,939)** |
| **Warrants<sup>(i)</sup>** – **0.0%** | **Warrants<sup>(i)</sup>** – **0.0%** | **Warrants<sup>(i)</sup>** – **0.0%** | **Warrants<sup>(i)</sup>** – **0.0%** |
| Aspect Software, Inc.<sup>(e)</sup> | Aspect Software, Inc.<sup>(e)</sup> | Aspect Software, Inc.<sup>(e)</sup> | Aspect Software, Inc.<sup>(e)</sup> |
| 194739 | 12/31/99 | 12/31/99 | $195 |

---

------

GOLDMAN SACHS INCOME BUILDER FUND

*July 31, 2025 (Unaudited)* 

---

| | | |
|:---|:---|:---|
| **Units** | **Expiration**<br> **Date** | **Value** |
| **Warrants<sup>(i)</sup>** **– (continued)** | **Warrants<sup>(i)</sup>** **– (continued)** | **Warrants<sup>(i)</sup>** **– (continued)** |
| Expand Energy Corp. | Expand Energy Corp. | Expand Energy Corp. |
| 287 | 02/09/26 | $25296 |
| Noble Corp. PLC | Noble Corp. PLC | Noble Corp. PLC |
| 5288 | 02/04/28 | 61526 |
| **TOTAL WARRANTS**<br> **(Cost $13,220)** | **TOTAL WARRANTS**<br> **(Cost $13,220)** | $87017 |
| **Principal**<br> **Amount** | **Interest**<br> **Rate** | **Value** |
| **Mortgage-Backed Obligations<sup>(a)(d)</sup>** **– 0.0%** | **Mortgage-Backed Obligations<sup>(a)(d)</sup>** **– 0.0%** | **Mortgage-Backed Obligations<sup>(a)(d)</sup>** **– 0.0%** |
| **Collateralized Mortgage Obligations** – **0.0%** | **Collateralized Mortgage Obligations** – **0.0%** | **Collateralized Mortgage Obligations** – **0.0%** |
| **Sequential Floating Rate** – **0.0%** | **Sequential Floating Rate** – **0.0%** | **Sequential Floating Rate** – **0.0%** |
| Merrill Lynch Alternative Note Asset Trust Series 2007-OAR3, Class A1 (1 mo. USD Term SOFR + 0.494%) | Merrill Lynch Alternative Note Asset Trust Series 2007-OAR3, Class A1 (1 mo. USD Term SOFR + 0.494%) | Merrill Lynch Alternative Note Asset Trust Series 2007-OAR3, Class A1 (1 mo. USD Term SOFR + 0.494%) |
| 98724 | 4.847% | $86930 |
| **TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS** | **TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS** | 86930 |
| **TOTAL MORTGAGE-BACKED OBLIGATIONS**<br> **(Cost $38,256)** | **TOTAL MORTGAGE-BACKED OBLIGATIONS**<br> **(Cost $38,256)** | $86930 |
| **Shares** | **Description** | **Value** |
| **Exchange Traded Funds** – **3.9%** | **Exchange Traded Funds** – **3.9%** | **Exchange Traded Funds** – **3.9%** |
| 1820504 | Goldman Sachs Nasdaq-100<br>Core Premium Income<br>ETF(l) | $91880837 |
| 43398 | iShares U.S. Technology<br>ETF | 7868491 |
| **TOTAL EXCHANGE TRADED FUNDS**<br> **(Cost $92,571,475)** | **TOTAL EXCHANGE TRADED FUNDS**<br> **(Cost $92,571,475)** | $99749328 |
| **Shares** | **Dividend**<br> **Rate** | **Value** |
| **Investment Companies<sup>(l)</sup>** – **5.2%** | **Investment Companies<sup>(l)</sup>** – **5.2%** | **Investment Companies<sup>(l)</sup>** – **5.2%** |
| Goldman Sachs Financial Square Government Fund — Class R6 | Goldman Sachs Financial Square Government Fund — Class R6 | Goldman Sachs Financial Square Government Fund — Class R6 |
| 51379129 | 4.191% | $51379129 |
| Goldman Sachs Financial Square Government Fund — Institutional Shares | Goldman Sachs Financial Square Government Fund — Institutional Shares | Goldman Sachs Financial Square Government Fund — Institutional Shares |
| 43243258 | 4.191 | 43243258 |
| Goldman Sachs MLP Energy Infrastructure Fund — Class R6 | Goldman Sachs MLP Energy Infrastructure Fund — Class R6 | Goldman Sachs MLP Energy Infrastructure Fund — Class R6 |
| 996629 | 4.832 | 39217347 |
| **TOTAL INVESTMENT COMPANIES**<br> **(Cost $113,295,499)** | **TOTAL INVESTMENT COMPANIES**<br> **(Cost $113,295,499)** | $133839734 |
| **TOTAL INVESTMENTS** – **96.3%**<br> **(Cost $2,232,706,176)** | **TOTAL INVESTMENTS** – **96.3%**<br> **(Cost $2,232,706,176)** | $2497285783 |
| **OTHER ASSETS IN EXCESS OF**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**LIABILITIES** – **3.7%** | **OTHER ASSETS IN EXCESS OF**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**LIABILITIES** – **3.7%** | 96836231 |
| **NET ASSETS** – **100.0%** | **NET ASSETS** – **100.0%** | $2594122014 |

---

The percentage shown for each investment category reflects the value of investments in that category as a percentage of net assets.

(a) Security with "Call" features with resetting interest rates. Maturity dates disclosed are the final maturity dates.

(b) Exempt from registration under Rule 144A of the Securities Act of 1933.

(c) Pay-in-kind securities.

(d) Variable rate security. Except for floating rate notes (for which final maturity is disclosed), maturity date disclosed is the next interest reset date. Interest rate disclosed is that which is in effect on
July 31, 2025.

(e) Significant unobservable inputs were used in the valuation of this portfolio security; i.e., Level 3.

(f) Coupon changes periodically based upon a predetermined schedule. Interest rate disclosed is that which is in effect on July 31, 2025.

(g) Security with "Put" features and resetting interest rates. Maturity dates disclosed are the puttable dates. Interest rate disclosed is that which is in effect on July 31, 2025.

(h) Issued with a zero coupon. Income is recognized through the accretion of discount.

(i) Security is currently in default and/or non-income producing.

(j) Bank Loans often require prepayments from excess cash flows or permit the borrower to repay at its election. The degree to which borrowers repay, whether as a contractual requirement or at their election, cannot be
predicted with accuracy. As a result, the actual remaining maturity may be substantially less than the stated maturities shown. As bank loan positions may involve multiple underlying tranches for which the aggregate position is presented, the stated
interest rate represents the weighted average interest rate of all contracts on July 31, 2025. Bank Loans typically have rates of interest which are predetermined either daily, monthly, quarterly or semi-annually by reference to a base lending
rate, plus a premium. These base lending rates are primarily the Secured Overnight Financing Rate ("SOFR"), and secondarily the prime rate offered by one or more major United States banks (the "Prime Rate") and the
certificate of deposit ("CD") rate or other base lending rates used by commercial lenders.

(k) This position 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.

(l) Represents an affiliated issuer.

------

GOLDMAN SACHS INCOME BUILDER FUND

*July 31, 2025 (Unaudited)* 

**ADDITIONAL INVESTMENT INFORMATION** 

**FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** — At July 31, 2025, the Fund had the following forward foreign currency exchange contracts:

**FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS WITH UNREALIZED GAIN** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Currency**<br> **Purchased** | **Currency**<br> **Purchased** | **Currency**<br> **Sold** | **Currency**<br> **Sold** | **Settlement<br>Date** | **Unrealized<br>Gain** |
|  MS & Co. Int. PLC | USD | 27778443 | EUR | 23570127 | 09/23/25 | $781247 |

---

**FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS WITH UNREALIZED LOSS** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Currency<br>Purchased** | **Currency<br>Purchased** | **Currency**<br> **Sold** | **Currency**<br> **Sold** | **Settlement<br>Date** | **Unrealized<br>Loss** |
|  MS & Co. Int. PLC | EUR | 49899 | USD | 57854 | 09/23/25 | $(699) |

---

**FUTURES CONTRACTS** — At July 31, 2025, the Fund had the following futures contracts:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Number of<br>Contracts** | **Expiration<br>Date** | **Notional<br>Amount** | **Unrealized<br>Appreciation/**<br> **(Depreciation)** |
|  **Long position contracts:** |  |  |  |  |
|  10 Year U.S. Treasury Notes | 174 | 09/19/25 | $1110625 | $21484 |
|  20 Year U.S. Treasury Bonds | 382 | 09/19/25 | 3083062 | 982564 |
|  5 Year U.S. Treasury Notes | 1578 | 09/30/25 | 170695219 | 551327 |
|  Euro Stoxx 50 Index | 102 | 09/19/25 | 6215885 | (37411) |
|  S&P 500 E-Mini Index | 122 | 09/19/25 | 38882925 | 1445695 |
|  Ultra 10-Year U.S. Treasury Notes | 4 | 09/19/25 | 452313 | 6759 |
|  Ultra Long U.S. Treasury Bonds | 448 | 09/19/25 | 938500 | 864952 |
|  **Total** |  |  |  | $3835370 |
|  **Short position contracts:** |  |  |  |  |
|  5 Year German Euro-Bobl | (39) | 09/08/25 | (5219310) | 37322 |
|  5 Year German Euro-Bund | (26) | 09/08/25 | (3848353) | 43871 |
|  5 Year U.S. Treasury Notes | (1013) | 09/30/25 | (757203) | (348620) |
|  Ultra 10-Year U.S. Treasury Notes | (114) | 09/19/25 | (12890906) | (64553) |
|  **Total** | **Total** | **Total** | **Total** | $(331980) |
|  **TOTAL FUTURES CONTRACTS** | **TOTAL FUTURES CONTRACTS** | **TOTAL FUTURES CONTRACTS** | **TOTAL FUTURES CONTRACTS** | $3503390 |

---

**SWAP CONTRACTS** — At July 31, 2025, the Fund had the following swap contracts:

**CENTRALLY CLEARED INTEREST RATE SWAP CONTRACTS** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Payments Made**<br> **by the Fund** | **Termination<br>Date** | **Notional<br>Amount<br>(000s)<sup>(a)</sup>** | **Market<br>Value** | **Upfront<br>Premium<br>(Received)<br>Paid** | **Unrealized<br>Appreciation/<br>(Depreciation)** |
|  3.750%<sup>(b)</sup> <br> 12M SOFR<sup>(b)</sup> | 09/17/26 | $2440 | $4998 | $2123 | $2875 |
|  12M SOFR<sup>(c)</sup> <br> 3.750%<sup>(c)</sup> | 09/17/27 | 1310 | 2790 | 3119 | (329) |
|  12M SOFR<sup>(c)</sup> <br> 3.750<sup>(c)</sup> | 09/17/28 | 25740 | 145426 | 139835 | 5591 |
|  12M SOFR<sup>(c)</sup> <br> 3.750<sup>(c)</sup> | 09/17/30 | 154070 | 1263806 | 766034 | 497772 |
| 2.000<sup>(c)</sup> <br> 6M EURO<sup>(d)</sup> | 09/17/30 | 380 | 7705 | 5508 | 2197 |
| 3.750<sup>(c)</sup> <br> 12M SOFR<sup>(c)</sup> | 09/17/32 | $3700 | (18036) | (53251) | 35215 |
| 2.000<sup>(c)</sup> <br> 6M EURO<sup>(d)</sup> | 09/17/32 | 210 | 7933 | 6306 | 1627 |
|  12M SOFR<sup>(c)</sup> <br> 3.750<sup>(c)</sup> | 09/17/35 | $150520 | (962861) | (1049381) | 86520 |

---

------

GOLDMAN SACHS INCOME BUILDER FUND

*July 31, 2025 (Unaudited)* 

**ADDITIONAL INVESTMENT INFORMATION (continued)** 

**CENTRALLY CLEARED INTEREST RATE SWAP CONTRACTS (continued)** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Payments Made**<br> **by the Fund** | **Termination<br>Date** | **Notional<br>Amount<br>(000s)<sup>(a)</sup>** | **Market<br>Value** | **Upfront<br>Premium<br>(Received)<br>Paid** | **Unrealized<br>Appreciation/<br>(Depreciation)** |
|  3.750%<sup>(c)</sup> <br> 12M SOFR<sup>(c)</sup> | 09/17/45 | $350 | $16715 | $10362 | $6353 |
|  12M SOFR<sup>(c)</sup> <br> 3.500%<sup>(c)</sup> | 09/17/55 | 14150 | (1318235) | (1351637) | 33402 |
|  **TOTAL** |  |  | $(849759) | $(1520982) | $671223 |

---

(a) Represents forward starting interest rate swaps whose effective dates of commencement of accruals and cash flows occur subsequent to July 31, 2025.

(b) Payments made at maturity.

(c) Payments made annually.

(d) Payments made semi-annually.

**WRITTEN OPTIONS CONTRACTS** — At July 31, 2025, the Fund had the following written options:

**OVER-THE-COUNTER OPTIONS ON EQUITIES** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Counterparty** | **Exercise<br>Price** | **Expiration<br>Date** | **Number of<br>Contracts** | **Notional<br>Amount** | **Market<br>Value** | **Premiums Paid<br>(Received)<br>by Fund** | **Unrealized<br>Appreciation/<br>(Depreciation)** |
|  **Written option contract** | **Written option contract** | **Written option contract** | **Written option contract** | **Written option contract** | **Written option contract** | **Written option contract** | **Written option contract** | **Written option contract** |
|  **Calls** |  |  |  |  |  |  |  |  |
|  MS & Co. Int. PLC |  | $5458.240 | 08/29/2025 | (3613) | $(1972062112) | $(113431) | $(109882) | $(3549) |

---

---

| | |
|:---|:---|
| **Currency Abbreviations:** | **Currency Abbreviations:** |
| EUR | — Euro |
| USD | — U.S. Dollar |
| **Investment Abbreviations:** | **Investment Abbreviations:** |
| ADR | — American Depositary Receipt |
| CMT | — Constant Maturity Treasury Indexes |
| ETF | — Exchange Traded Fund |
| EURIBOR | — Euro Interbank Offered Rate |
| ICE | — Inter-Continental Exchange |
| LIBOR | — London Interbank Offered Rate |
| LLC | — Limited Liability Company |
| LP | — Limited Partnership |
| MLP | — Master Limited Partnership |
| PIK | — Payment in kind |
| PLC | — Public Limited Company |
| REIT | — Real Estate Investment Trust |
| SOFR | — Secured Overnight Financing Rate |
| **Abbreviations:** | **Abbreviations:** |
| EURO | — Euro Offered Rate |
| MS & Co. Int. PLC | — Morgan Stanley & Co. International PLC |
| SOFR | — Secured Overnight Financing Rate |

---

------

GOLDMAN SACHS RISING DIVIDEND GROWTH FUND

## Schedule of Investments
*July 31, 2025 (Unaudited)* 

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **Common Stocks – 97.1%** | **Common Stocks – 97.1%** |  |
| **Banks – 2.1%** | **Banks – 2.1%** | **Banks – 2.1%** |
| 1715 | First Citizens BancShares, Inc. Class A | $3421014 |
| 18555 | JPMorgan Chase & Co. | 5496733 |
|  |  | 8917747 |
| **Beverages – 0.8%** | **Beverages – 0.8%** | **Beverages – 0.8%** |
| 20685 | Constellation Brands, Inc. Class A | 3455222 |
| **Biotechnology – 2.1%** | **Biotechnology – 2.1%** |  |
| 25170 | AbbVie, Inc. | 4757633 |
| 15460 | Amgen, Inc. | 4562246 |
|  |  | 9319879 |
| **Broadline Retail – 0.5%** | **Broadline Retail – 0.5%** | **Broadline Retail – 0.5%** |
| 4770 | Dillard's, Inc. Class A | 2227256 |
| **Building Products – 2.2%** | **Building Products – 2.2%** |  |
| 33000 | A.O. Smith Corp. | 2336070 |
| 16310 | Griffon Corp. | 1325514 |
| 5210 | Lennox International, Inc. | 3172890 |
| 40855 | Masco Corp. | 2783451 |
|  |  | 9617925 |
| **Capital Markets – 3.8%** | **Capital Markets – 3.8%** | **Capital Markets – 3.8%** |
| 54077 | Charles Schwab Corp. | 5284945 |
| 8977 | Evercore, Inc. Class A | 2703334 |
| 10145 | MarketAxess Holdings, Inc. | 2084798 |
| 25550 | Moelis & Co. Class A | 1792077 |
| 8870 | Moody's Corp. | 4574525 |
|  |  | 16439679 |
| **Chemicals – 1.0%** | **Chemicals – 1.0%** | **Chemicals – 1.0%** |
| 12839 | Sherwin-Williams Co. | 4248168 |
| **Commercial Services & Supplies – 0.8%** | **Commercial Services & Supplies – 0.8%** |  |
| 60456 | Rollins, Inc. | 3462315 |
| **Communications Equipment – 1.5%** | **Communications Equipment – 1.5%** |  |
| 14663 | Motorola Solutions, Inc. | 6436764 |
| **Consumer Finance – 1.1%** | **Consumer Finance – 1.1%** |  |
| 15730 | American Express Co. | 4708146 |
| **Consumer Staples Distribution & Retail – 2.7%** | **Consumer Staples Distribution & Retail – 2.7%** |  |
| 5023 | Costco Wholesale Corp. | 4719812 |
| 29725 | Dollar General Corp. | 3118152 |
| 53522 | Kroger Co. | 3751892 |
|  |  | 11589856 |
| **Diversified Telecommunication Services – 0.5%** | **Diversified Telecommunication Services – 0.5%** | **Diversified Telecommunication Services – 0.5%** |
| 51520 | Cogent Communications Holdings, Inc. | 2348797 |
| **Electric Utilities – 2.0%** | **Electric Utilities – 2.0%** |  |
| 124931 | NextEra Energy, Inc. | 8877597 |
| **Electronic Equipment, Instruments & Components – 5.6%** | **Electronic Equipment, Instruments & Components – 5.6%** | **Electronic Equipment, Instruments & Components – 5.6%** |
| 67809 | Amphenol Corp. Class A | 7222337 |
| 12650 | Badger Meter, Inc. | 2387814 |
| 28205 | CDW Corp. | 4918388 |
| 75020 | Cognex Corp. | 3058565 |
| 11441 | Littelfuse, Inc. | 2944113 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **Common Stocks – (continued)** | **Common Stocks – (continued)** |  |
| **Electronic Equipment, Instruments & Components – (continued)** | **Electronic Equipment, Instruments & Components – (continued)** | **Electronic Equipment, Instruments & Components – (continued)** |
| 26890 | TD SYNNEX Corp. | $3882647 |
|  |  | 24413864 |
| **Energy Equipment & Services – 0.7%** | **Energy Equipment & Services – 0.7%** | **Energy Equipment & Services – 0.7%** |
| 42864 | Archrock, Inc. | 1001303 |
| 31074 | Kodiak Gas Services, Inc. | 1004623 |
| 48671 | USA Compression Partners LP | 1160803 |
|  |  | 3166729 |
| **Financial Services – 2.4%** | **Financial Services – 2.4%** | **Financial Services – 2.4%** |
| 9562 | Mastercard, Inc. Class A | 5416586 |
| 14798 | Visa, Inc. Class A | 5112265 |
|  |  | 10528851 |
| **Food Products – 0.9%** | **Food Products – 0.9%** | **Food Products – 0.9%** |
| 62805 | Mondelez International, Inc. Class A | 4062855 |
| **Gas Utilities – 0.2%** | **Gas Utilities – 0.2%** |  |
| 44435 | Suburban Propane Partners LP | 836711 |
| **Ground Transportation – 0.3%** | **Ground Transportation – 0.3%** |  |
| 10660 | Landstar System, Inc. | 1421724 |
| **Health Care Providers & Services – 1.8%** | **Health Care Providers & Services – 1.8%** |  |
| 1 | CVS Health Corp. | 62 |
| 15289 | Humana, Inc. | 3820263 |
| 16729 | UnitedHealth Group, Inc. | 4174889 |
|  |  | 7995214 |
| **Hotels, Restaurants & Leisure – 1.6%** | **Hotels, Restaurants & Leisure – 1.6%** | **Hotels, Restaurants & Leisure – 1.6%** |
| 6645 | Domino's Pizza, Inc. | 3078030 |
| 23565 | Papa John's International, Inc. | 999392 |
| 14750 | Texas Roadhouse, Inc. | 2730668 |
|  |  | 6808090 |
| **Insurance – 3.1%** | **Insurance – 3.1%** | **Insurance – 3.1%** |
| 21585 | Allstate Corp. | 4387151 |
| 20510 | American Financial Group, Inc. | 2561699 |
| 22030 | Marsh & McLennan Cos., Inc. | 4388376 |
| 8550 | Primerica, Inc. | 2271137 |
|  |  | 13608363 |
| **IT Services – 2.3%** | **IT Services – 2.3%** | **IT Services – 2.3%** |
| 25220 | Accenture PLC Class A | 6736262 |
| 40445 | Amdocs Ltd. | 3452385 |
|  |  | 10188647 |
| **Life Sciences Tools & Services – 2.2%** | **Life Sciences Tools & Services – 2.2%** | **Life Sciences Tools & Services – 2.2%** |
| 22519 | Danaher Corp. | 4439846 |
| 10903 | Thermo Fisher Scientific, Inc. | 5099115 |
|  |  | 9538961 |
| **Machinery – 2.4%** | **Machinery – 2.4%** | **Machinery – 2.4%** |
| 31153 | Graco, Inc. | 2616229 |
| 14925 | Illinois Tool Works, Inc. | 3820352 |
| 26411 | Toro Co. | 1961017 |
| 8340 | Watts Water Technologies, Inc. Class A | 2187749 |
|  |  | 10585347 |

---

------

GOLDMAN SACHS RISING DIVIDEND GROWTH FUND

## Schedule of Investments (continued)
*July 31, 2025 (Unaudited)* 

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **Common Stocks – (continued)** | **Common Stocks – (continued)** |  |
| **Media – 4.2%** | **Media – 4.2%** |  |
| 291659 | Comcast Corp. Class A | $9691829 |
| 88538 | New York Times Co. Class A | 4594237 |
| 20285 | Nexstar Media Group, Inc. | 3795526 |
|  |  | 18081592 |
| **Metals & Mining – 0.6%** | **Metals & Mining – 0.6%** |  |
| 9435 | Reliance, Inc. | 2737377 |
| **Oil, Gas & Consumable Fuels – 14.1%** | **Oil, Gas & Consumable Fuels – 14.1%** |  |
| 35452 | BKV Corp.\* | 731729 |
| 31876 | Cheniere Energy Partners LP | 1838289 |
| 8512 | Cheniere Energy, Inc. | 2007811 |
| 14830 | Delek Logistics Partners LP | 683811 |
| 21100 | DT Midstream, Inc. | 2167603 |
| 442040 | Energy Transfer LP | 7974402 |
| 194243 | Enterprise Products Partners LP | 6019591 |
| 3198 | Expand Energy Corp. | 335086 |
| 77337 | Genesis Energy LP | 1342570 |
| 16148 | Global Partners LP | 847770 |
| 122124 | Hess Midstream LP Class A | 5316058 |
| 46056 | Kinetik Holdings, Inc. | 1997909 |
| 164745 | MPLX LP | 8649112 |
| 12122 | ONEOK, Inc. | 995337 |
| 281974 | Plains All American Pipeline LP | 5146026 |
| 108283 | Sunoco LP | 5989133 |
| 11930 | Targa Resources Corp. | 1985271 |
| 9418 | Venture Global, Inc. Class A | 144378 |
| 122423 | Western Midstream Partners LP | 4986289 |
| 36554 | Williams Cos., Inc. | 2191412 |
|  |  | 61349587 |
| **Personal Products – 0.3%** | **Personal Products – 0.3%** |  |
| 10890 | Interparfums, Inc. | 1313334 |
| **Pharmaceuticals – 1.9%** | **Pharmaceuticals – 1.9%** |  |
| 6436 | Eli Lilly & Co. | 4763091 |
| 25270 | Zoetis, Inc. | 3684113 |
|  |  | 8447204 |
| **Professional Services – 0.3%** | **Professional Services – 0.3%** |  |
| 34280 | Robert Half, Inc. | 1265275 |
| **Residential REITs – 0.5%** | **Residential REITs – 0.5%** |  |
| 32262 | Equity LifeStyle Properties, Inc. | 1933139 |
| **Semiconductors & Semiconductor Equipment – 10.0%** | **Semiconductors & Semiconductor Equipment – 10.0%** |  |
| 35134 | Applied Materials, Inc. | 6326228 |
| 7216 | KLA Corp. | 6343081 |
| 67237 | Lam Research Corp. | 6376757 |
| 7485 | Monolithic Power Systems, Inc. | 5323631 |
| 46744 | NVIDIA Corp. | 8314355 |
| 31817 | Power Integrations, Inc. | 1543761 |
| 48303 | Skyworks Solutions, Inc. | 3310688 |
| 32649 | Texas Instruments, Inc. | 5911428 |
|  |  | 43449929 |
| **Software – 8.3%** | **Software – 8.3%** |  |
| 41125 | Dolby Laboratories, Inc. Class A | 3098358 |
| 12000 | InterDigital, Inc. | 3098400 |
| 9596 | Intuit, Inc. | 7534107 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **Common Stocks – (continued)** | **Common Stocks – (continued)** |  |
| **Software – (continued)** | **Software – (continued)** |  |
| 15048 | Microsoft Corp. | $8028108 |
| 31940 | Oracle Corp. | 8105414 |
| 11027 | Roper Technologies, Inc. | 6069261 |
|  |  | 35933648 |
| **Specialized REITs – 1.3%** | **Specialized REITs – 1.3%** |  |
| 14769 | American Tower Corp. | 3077712 |
| 17904 | Extra Space Storage, Inc. | 2405581 |
|  |  | 5483293 |
| **Specialty Retail – 5.9%** | **Specialty Retail – 5.9%** |  |
| 40999 | Best Buy Co., Inc. | 2667395 |
| 14201 | Home Depot, Inc. | 5219010 |
| 21155 | Lowe's Cos., Inc. | 4729623 |
| 38165 | TJX Cos., Inc. | 4752687 |
| 64350 | Tractor Supply Co. | 3664732 |
| 19311 | Williams-Sonoma, Inc. | 3612123 |
| 3040 | Winmark Corp. | 1147357 |
|  |  | 25792927 |
| **Technology Hardware, Storage & Peripherals – 2.2%** | **Technology Hardware, Storage & Peripherals – 2.2%** |  |
| 198193 | HP, Inc. | 4915186 |
| 46169 | NetApp, Inc. | 4807578 |
|  |  | 9722764 |
| **Textiles, Apparel & Luxury Goods – 1.3%** | **Textiles, Apparel & Luxury Goods – 1.3%** |  |
| 61975 | NIKE, Inc. Class B | 4628913 |
| 22340 | Oxford Industries, Inc. | 852941 |
|  |  | 5481854 |
| **Trading Companies & Distributors – 1.6%** | **Trading Companies & Distributors – 1.6%** |  |
| 87561 | Fastenal Co. | 4039189 |
| 6372 | Watsco, Inc. | 2873007 |
|  |  | 6912196 |
| **TOTAL COMMON STOCKS**<br> **(Cost $303,511,227)** | **TOTAL COMMON STOCKS**<br> **(Cost $303,511,227)** | $422708826 |
| **Shares** | **Dividend**<br> **Rate** | **Value** |
| **Investment Companies<sup>(a)</sup> – 1.6%** | **Investment Companies<sup>(a)</sup> – 1.6%** |  |
| Goldman Sachs Financial Square Government Fund — Class R6 | Goldman Sachs Financial Square Government Fund — Class R6 | Goldman Sachs Financial Square Government Fund — Class R6 |
| 6588146 | 4.191% | $6588146 |
| Goldman Sachs Financial Square Government Fund — Institutional<br>Shares | Goldman Sachs Financial Square Government Fund — Institutional<br>Shares | Goldman Sachs Financial Square Government Fund — Institutional<br>Shares |
| 549262 | 4.191 | 549262 |
| **TOTAL INVESTMENT COMPANIES**<br> **(Cost $7,137,408)** | **TOTAL INVESTMENT COMPANIES**<br> **(Cost $7,137,408)** | $7137408 |
| **TOTAL INVESTMENTS – 98.7%**<br> **(Cost $310,648,635)** | **TOTAL INVESTMENTS – 98.7%**<br> **(Cost $310,648,635)** | $429846234 |
| **OTHER ASSETS IN EXCESS OF**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**LIABILITIES – 1.3%** | **OTHER ASSETS IN EXCESS OF**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**LIABILITIES – 1.3%** | 5706827 |
| **NET ASSETS – 100.0%** | **NET ASSETS – 100.0%** | $435553061 |

---

------

GOLDMAN SACHS RISING DIVIDEND GROWTH FUND

*July 31, 2025 (Unaudited)* 

The percentage shown for each investment category reflects the value of investments in that category as a percentage of net assets.

\* Non-income producing security.

(a) Represents an affiliated issuer.

**ADDITIONAL INVESTMENT INFORMATION** 

**FUTURES CONTRACTS** — At July 31, 2025, the Fund had the following futures contracts:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Number of<br>Contracts** | **Expiration<br>Date** | **Notional<br>Amount** | **Unrealized<br>Appreciation/<br>(Depreciation)** |
|  **Long position contracts:** |  |  |  |  |
|  S&P 500 E-Mini Index | 43 | 09/19/25 | $9880088 | $463197 |

---

---

| | |
|:---|:---|
| **Investment Abbreviations:** | **Investment Abbreviations:** |
| LP | — Limited Partnership |
| PLC | — Public Limited Company |

---

------

GOLDMAN SACHS DIVIDEND FOCUS FUNDS

*July 31, 2025 (Unaudited)* 

**NOTES TO THE SCHEDULE OF INVESTMENTS** 

**Investment Valuation** — The Funds' valuation policy is to value investments at fair value.

**Investments and Fair Value Measurements** — U.S. GAAP defines the fair value of a financial instrument as the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (i.e., the exit price); the Funds' policy is to use the market approach. GAAP establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. 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). The level in the fair value hierarchy within which the fair value measurement in its entirety falls shall be determined based on the lowest level input that is significant to the fair value measurement in its entirety. The levels used for classifying investments are not necessarily an indication of the risk associated with investing in these investments. The three levels of the fair value hierarchy are described below:

Level 1 — Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities;

Level 2 — Quoted prices in markets that are not active or financial instruments for which significant inputs are observable (including, but not limited to, quoted prices for similar investments, interest rates, foreign exchange rates, volatility and credit spreads), either directly or indirectly;

Level 3 — Prices or valuations that require significant unobservable inputs (including GSAM's assumptions in determining fair value measurement).

The Board of Trustees ("Trustees") has approved Valuation Procedures that govern the valuation of the portfolio investments held by the Funds, including investments for which market quotations are not readily available. With respect to the Funds' investments that do not have readily available market quotations, the Trustees have designated GSAM as the valuation designee to perform fair valuations pursuant to Rule 2a-5 under the Investment Company Act of 1940 (the "Valuation Designee"). GSAM has day-to-day responsibility for implementing and maintaining internal controls and procedures related to the valuation of the Funds' investments. To assess the continuing appropriateness of pricing sources and methodologies, GSAM regularly performs price verification procedures and issues challenges as necessary to third party pricing vendors or brokers, and any differences are reviewed in accordance with the Valuation Procedures.

**Level 1 and Level 2 Fair Value Investments** — The valuation techniques and significant inputs used in determining the fair values for investments classified as Level 1 and Level 2 are as follows:

**Equity Securities** — Equity securities traded on a United States ("U.S.") securities exchange or the NASDAQ system, or those located on certain foreign exchanges, including but not limited to the Americas, are valued daily at their last sale price or official closing price on the principal exchange or system on which they are traded. If there is no sale or official closing price or such price is believed by GSAM to not represent fair value, equity securities will be valued at the valid closing bid price for long positions and at the valid closing ask price for short positions (i.e., where there is sufficient volume, during normal exchange trading hours). If no valid bid/ask price is available, the equity security will be valued pursuant to the Valuation Procedures and consistent with applicable regulatory guidance. To the extent these investments are actively traded, they are classified as Level 1 of the fair value hierarchy, otherwise they are generally classified as Level 2. Certain equity securities containing unique attributes may be classified as Level 2.

Unlisted equity securities for which market quotations are available are valued at the last sale price on the valuation date, or if no sale occurs, at the last bid price for long positions or the last ask price for short positions, and are generally classified as Level 2. Securities traded on certain foreign securities exchanges are valued daily at fair value determined by an independent fair value service (if available) under the Valuation Procedures and consistent with applicable regulatory guidance. The independent fair value service takes into account multiple factors including, but not limited to, movements in the securities markets, certain depositary receipts, futures contracts and foreign currency exchange rates that have occurred subsequent to the close of the foreign securities exchange. These investments are generally classified as Level 2 of the fair value hierarchy.

------

GOLDMAN SACHS DIVIDEND FOCUS FUNDS

*July 31, 2025 (Unaudited)* 

**NOTES TO THE SCHEDULE OF INVESTMENTS (continued)** 

**Underlying Funds (including Money Market Funds)** — Underlying funds ("Underlying Funds") include exchange-traded funds ("ETFs") and other investment companies. Investments in the Underlying Funds (except ETFs) are valued at the NAV per share on the day of valuation. ETFs are valued daily at the last sale price or official closing price on the principal exchange or system on which the investment is traded. Because the Funds invest in Underlying Funds that fluctuate in value, the Fund's shares will correspondingly fluctuate in value. Underlying Funds are generally classified as Level 1 of the fair value hierarchy. To the extent that underlying ETFs are actively traded, they are classified as Level 1 of the fair value hierarchy, otherwise they are generally classified as Level 2. For information regarding an Underlying Fund's accounting policies and investment holdings, please see the Underlying Fund's shareholder report.

**Debt Securities** — Debt securities for which market quotations are readily available are valued daily on the basis of quotations supplied by dealers or an independent pricing service. The pricing services may use valuation models or matrix pricing, which consider: (i) yield or price with respect to bonds that are considered comparable in characteristics such as rating, interest rate and maturity date or (ii) quotations from securities dealers to determine current value. With the exception of treasury securities of G7 countries, which are generally classified as Level 1, these investments are generally classified as Level 2 of the fair value hierarchy.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**i. Bank Loans** — Bank loans ("Loans") are interests in amounts owed by corporate, governmental, or other borrowers to lenders or lending syndicates. Loans are arranged through private negotiations between the borrower and one or more financial institutions ("Lenders"). A Fund's investments in Loans are in the form of either participations in Loans ("Participations") or assignments of all or a portion of Loans from third parties ("Assignments"). With respect to Participations, a Fund has the right to receive payments of principal, interest and any fees to which it is entitled from the Lender selling the Participations and only upon receipt by the Lender of the payments from the borrower. A Fund generally has no right to enforce compliance by the borrower with the terms of the loan agreement with respect to Participations. Conversely, assignments result in a Fund having a direct contractual relationship with the borrower, and the Fund may be permitted to enforce compliance by the borrower with the terms of the loan agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**ii. Mortgage-Backed and Asset-Backed Securities** — Mortgage-backed securities represent direct or indirect participations in, or are collateralized by and payable from, mortgage loans secured by residential and/or commercial real estate property. Asset-backed securities include securities whose principal and interest payments are collateralized by pools of other assets or receivables. The value of certain mortgage-backed and asset-backed securities (including adjustable rate mortgage loans) may be particularly sensitive to changes in prevailing interest rates. The value of these securities may also fluctuate in response to the market's perception of the creditworthiness of the issuers.

Asset-backed securities may present credit risks that are not presented by mortgage-backed securities because they generally do not have the benefit of a security interest in collateral that is comparable to mortgage assets. Some asset-backed securities may only have a subordinated claim on collateral.

**Derivative Contracts** — A derivative is an instrument whose value is derived from underlying assets, indices, reference rates or a combination of these factors. A Fund enters into derivative transactions to hedge against changes in interest rates, securities prices, and/or currency exchange rates, to increase total return, or to gain access to certain markets or attain exposure to other underliers. For financial reporting purposes, cash collateral that has been pledged to cover obligations of a Fund and cash collateral received, if any, is reported separately on the Statements of Assets and Liabilities as either due to broker/receivable for collateral on certain derivative contracts. Non-cash collateral pledged by a Fund, if any, is noted in the Schedules of Investments.

Exchange-traded derivatives, including futures and options contracts, are generally valued at the last sale or settlement price on the exchange where they are principally traded. Exchange-traded options without settlement prices are generally valued at the midpoint of the bid and ask prices on the exchange where they are principally traded (or, in the absence of two-way trading, at the last bid price for long positions and the last ask price for short positions). Exchange-traded derivatives typically fall within Level 1 of the fair value hierarchy. Over-the-counter ("OTC") and centrally cleared derivatives are valued using market transactions and other market evidence, including market-based inputs to models, calibration to market-clearing transactions, broker or dealer quotations, or other alternative pricing sources. Where models are used, the selection of a particular model to value OTC and centrally cleared derivatives depends upon the contractual terms of, and specific risks inherent in, the instrument, as well as the

------

GOLDMAN SACHS DIVIDEND FOCUS FUNDS

*July 31, 2025 (Unaudited)* 

**NOTES TO THE SCHEDULE OF INVESTMENTS (continued)** 

availability of pricing information in the market. Valuation models require a variety of inputs, including contractual terms, market prices, yield curves, credit curves, measures of volatility, voluntary and involuntary prepayment rates, loss severity rates and correlations of such inputs. For OTC and centrally cleared derivatives that trade in liquid markets, model inputs can generally be verified and model selection does not involve significant management judgment. OTC and centrally cleared derivatives are classified within Level 2 of the fair value hierarchy when significant inputs are corroborated by market evidence.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. **Forward Contracts** — A forward contract is a contract between two parties to buy or sell an asset at a specified price on a future date. A forward contract settlement can occur on a cash or delivery basis. Forward contracts are marked-to-market daily using independent vendor prices, and the change in value, if any, is recorded as an unrealized gain or loss. Cash and certain investments may be used to collateralize forward contracts.

A *forward foreign currency exchange contract* is a forward contract in which a Fund agrees to receive or deliver a fixed quantity of one currency for another, at a pre-determined price at a future date. All forward foreign currency exchange contracts are marked to market daily by using the outright forward rates or interpolating based upon maturity dates, where available. Non-deliverable forward foreign currency exchange contracts are settled with the counterparty in cash without the delivery of foreign currency.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**ii. Futures Contracts** — Futures contracts are contracts to buy or sell a standardized quantity of a specified commodity or security. Upon entering into a futures contract, a Fund deposits cash or securities in an account on behalf of the broker in an amount sufficient to meet the initial margin requirement. Subsequent payments are made or received by a Fund equal to the daily change in the contract value and are recorded as variation margin receivable or payable with a corresponding offset to unrealized gains or losses.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**iii. Options** — When a Fund writes call or put options, an amount equal to the premium received is recorded as a liability and is subsequently marked-to-market to reflect the current value of the option written. Swaptions are options on swap contracts.

Upon the purchase of a call option or a put option by a Fund, the premium paid is recorded as an investment and subsequently marked-to-market to reflect the current value of the option. Certain options may be purchased with premiums to be determined on a future date. The premiums for these options are based upon implied volatility parameters at specified terms.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**iv. Swap Contracts** — Bilateral swap contracts are agreements in which a Fund and a counterparty agree to exchange periodic payments on a specified notional amount or make a net payment upon termination. Bilateral swap transactions are privately negotiated in the OTC market and payments are settled through direct payments between a Fund and the counterparty. By contrast, certain swap transactions are subject to mandatory central clearing. These swaps are executed through a derivatives clearing member ("DCM"), acting in an agency capacity, and submitted to a central counterparty ("CCP") ("centrally cleared swaps"), in which case all payments are settled with the CCP through the DCM. Swaps are marked-to-market daily using pricing vendor quotations, counterparty or clearinghouse prices or model prices, and the change in value, if any, is recorded as an unrealized gain or loss. Upon entering into a swap contract, a Fund is required to satisfy an initial margin requirement by delivering cash or securities to the counterparty (or in some cases, segregated in a triparty account on behalf of the counterparty), which can be adjusted by any mark-to-market gains or losses pursuant to bilateral or centrally cleared arrangements. For centrally cleared swaps the daily change in valuation, if any, is recorded as a receivable or payable for variation margin.

An *interest rate swap* is an agreement that obligates two parties to exchange a series of cash flows at specified intervals, based upon or calculated by reference to changes in interest rates on a specified notional principal amount. The payment flows are usually netted against each other, with the difference being paid by one party to the other.

**Level 3 Fair Value Investments** — To the extent that significant inputs to valuation models and other alternative pricing sources are unobservable, or if quotations are not readily available, or if GSAM believes that such quotations do not accurately reflect fair value, the fair value of a Fund's investments may be determined under the Valuation Procedures. GSAM, consistent

------

GOLDMAN SACHS DIVIDEND FOCUS FUNDS

*July 31, 2025 (Unaudited)* 

**NOTES TO THE SCHEDULE OF INVESTMENTS (continued)** 

with its procedures and applicable regulatory guidance, may make an adjustment to the most recent valuation prices of either domestic or foreign securities in light of significant events to reflect what it believes to be the fair value of the securities at the time of determining a Fund's NAV. To the extent investments are valued using single source broker quotations obtained directly from the broker or passed through from third party pricing vendors, such investments are classified as Level 3 investments.

**Fair Value Hierarchy** — The following is a summary of the Funds' investments and derivatives classified in the fair value hierarchy as of July 31, 2025:

---

| | | | |
|:---|:---|:---|:---|
| **INCOME BUILDER FUND**<br>**Investment Type** | <br>**Level 1** | <br>**Level 2** | <br>**Level 3** |
| **Assets** | **Assets** | **Assets** | **Assets** |
|  Fixed Income |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Corporate Obligations | $— | $1168641067 | $— |
| &nbsp;&nbsp;&nbsp;&nbsp; Bank Loans |  | 155376418 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Sovereign Debt Obligations |  | 5421263 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Mortgage-Backed Obligations |  | 86930 |  |
|  Common Stock and/or Other Equity Investments<sup>(a)</sup>  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Asia | 28567438 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Europe | 160139297 | 410377 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; North America | 734802034 | 602788 | 195 |
|  Preferred Stocks |  | 8940257 |  |
|  Rights |  | 621640 |  |
|  Warrants |  | 86822 | 195 |
|  Exchange Traded Funds | 99749328 |  |  |
|  Investment Companies | 133839734 |  |  |
| **Total** | $1157097831 | $1340187562 | $390 |
| **Derivative Type** |  |  |  |
| **Assets** |  |  |  |
|  Forward Foreign Currency Exchange Contracts | $— | $781247 | $— |
|  Futures Contracts | 3953974 |  |  |
|  Interest Rate Swap Contracts |  | 671552 |  |
| **Total** | $3953974 | $1452799 | $— |
| **Liabilities** |  |  |  |
|  Forward Foreign Currency Exchange Contracts | $— | $(699) | $— |
|  Futures Contracts | (450584) |  |  |
|  Interest Rate Swap Contracts |  | (329) |  |
|  Written Option Contracts |  | (113431) |  |
| **Total** | $(450584) | $(114459) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |

---

(a) Amounts are disclosed by continent to highlight the impact of time zone differences between local market close and the calculation of NAV. Security valuations are based on the principal exchange or system on which they
are traded, which may differ from country of domicile. The Fund utilizes fair value model prices provided by an independent fair value service for international equities, resulting in a Level 2 classification.

------

GOLDMAN SACHS DIVIDEND FOCUS FUNDS

*July 31, 2025 (Unaudited)* 

**NOTES TO THE SCHEDULE OF INVESTMENTS (continued)** 

---

| | | | |
|:---|:---|:---|:---|
| **RISING DIVIDEND GROWTH FUND**<br>**Investment Type** | <br>**Level 1** | <br>**Level 2** | <br>**Level 3** |
| **Assets** |  |  |  |
|  Common Stock and/or Other Equity Investments<sup>(a)</sup>  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Asia | $731729 | $— | $— |
| &nbsp;&nbsp;&nbsp;&nbsp; Europe | 6736262 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; North America | 415240835 |  |  |
|  Investment Companies | 7137408 |  |  |
| **Total** | $&nbsp;&nbsp;&nbsp;&nbsp;429846234 | $— | $— |
| **Derivative Type** |  |  |  |
| **Assets** |  |  |  |
|  Futures Contracts | $463197 | $&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |

---

(a) Amounts are disclosed by continent to highlight the impact of time zone differences between local market close and the calculation of NAV. Security valuations are based on the principal exchange or system on which they
are traded, which may differ from country of domicile. The Fund utilizes fair value model prices provided by an independent fair value service for international equities, resulting in a Level 2 classification.

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

The Funds' risks include, but are not limited to, the following:

**Derivatives Risk** — The Funds' use of derivatives and other similar instruments (collectively referred to in this paragraph as "derivatives") may result in loss, including due to adverse market movements. Derivatives, which may pose risks in addition to and greater than those associated with investing directly in securities, currencies or other assets and instruments, may increase market exposure and be illiquid or less liquid, volatile, difficult to price and leveraged so that small changes in the value of the underlying assets or instruments may produce disproportionate losses to the Funds. Certain derivatives are also subject to counterparty risk, which is the risk that the other party in the transaction will not, or lacks the capacity or authority to, fulfill its contractual obligations, liquidity risk, which includes the risk that the Funds will not be able to exit the derivative when it is advantageous to do so, and risks arising from margin requirements, which include the risk that the Funds will be required to pay additional margin or set aside additional collateral to maintain open derivative positions. The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with investments in more traditional securities and instruments. Losses from derivatives can also result from a lack of correlation between changes in the value of derivative instruments and the portfolio assets (if any) being hedged.

**Dividend-Paying Investments Risk** — A Fund's investments in dividend-paying securities could cause a Fund to underperform other portfolios. Securities that pay dividends, as a group, can fall out of favor with the market, causing such securities to underperform securities that do not pay dividends. Depending upon market conditions and political and legislative responses to such conditions, dividend-paying securities that meet a Fund's investment criteria may not be widely available and/or may be highly concentrated in only a few market sectors. In addition, issuers that have paid regular dividends or distributions to shareholders may not continue to do so at the same level or at all in the future. This may limit the ability of a Fund to produce current income.

**Foreign and Emerging Countries Risk** — Investing in foreign markets may involve special risks and considerations not typically associated with investing in the U.S. Foreign securities may be subject to risk of loss because of more or less foreign government regulation; less public information; less stringent investor protections; less stringent accounting, corporate governance, financial reporting and disclosure standards; and less economic, political and social stability in the countries in which the Fund invests. The imposition of sanctions, exchange controls (including repatriation restrictions), confiscation of assets and property,

------

GOLDMAN SACHS DIVIDEND FOCUS FUNDS

*July 31, 2025 (Unaudited)* 

**NOTES TO THE SCHEDULE OF INVESTMENTS (continued)** 

trade restrictions (including tariffs) and other government restrictions by the U.S. or other governments, or from problems in registration, settlement or custody, may also result in losses. The type and severity of sanctions and other similar measures, including counter sanctions and other retaliatory actions, that may be imposed could vary broadly in scope, and their impact is impossible to predict. For example, the imposition of sanctions and other similar measures could, among other things, cause a decline in the value and/or liquidity of securities issued by the sanctioned country or companies located in or economically tied to the sanctioned country and increase market volatility and disruption in the sanctioned country and throughout the world. Sanctions and other similar measures could limit or prevent the Fund from buying and selling securities (in the sanctioned country and other markets), significantly delay or prevent the settlement of securities transactions, and significantly impact the Fund's liquidity and performance. Foreign risk also involves the risk of negative foreign currency exchange rate fluctuations, which may cause the value of securities denominated in such foreign currency (or other instruments through which the Fund has exposure to foreign currencies) to decline in value. Currency exchange rates may fluctuate significantly over short periods of time. To the extent that a Fund also invests in securities of issuers located in, or economically tied to, emerging markets, these risks may be more pronounced.

**Interest Rate Risk** — When interest rates increase, fixed income securities or instruments held by a Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. A wide variety of market factors can cause interest rates to rise, including central bank monetary policy, rising inflation and changes in general economic conditions. Changing interest rates may have unpredictable effects on the markets, may result in heightened market volatility and may detract from Fund performance. In addition, changes in monetary policy may exacerbate the risks associated with changing interest rates. Funds with longer average portfolio durations will generally be more sensitive to changes in interest rates than funds with a shorter average portfolio duration. Fluctuations in interest rates may also affect the liquidity of fixed income securities and instruments held by the Funds. A sudden or unpredictable increase in interest rates may cause volatility in the market and may decrease the liquidity of a Fund's investments, which would make it harder for the Fund to sell its investments at an advantageous time.

**Investment Style Risk** — Different investment styles (e.g., "growth", "value" or "quantitative") tend to shift in and out of favor depending upon market and economic conditions and investor sentiment. The Funds may outperform or underperform other funds that invest in similar asset classes but employ different investment styles.

**Large Shareholder Transactions Risk** — A Fund may experience adverse effects when certain large shareholders, such as other funds, institutional investors (including those trading by use of non-discretionary mathematical formulas), financial intermediaries (who may make investment decisions on behalf of underlying clients and/or include a Fund in their investment model), individuals, accounts and Goldman Sachs affiliates, purchase or redeem large amounts of shares of a Fund. Such large shareholder redemptions, which may occur rapidly or unexpectedly, may cause a Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact a Fund's NAV and liquidity. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in a Fund's current expenses being allocated over a smaller asset base, leading to an increase in the Fund's expense ratio. Similarly, large Fund share purchases may adversely affect a Fund's performance to the extent that the Fund is delayed in investing new cash or otherwise maintains a larger cash position than it ordinarily would.

**Market and Credit Risks** — In the normal course of business, a Fund trades financial instruments and enters into financial transactions where risk of potential loss exists due to changes in the market (market risk). The value of the securities in which a Fund invests may go up or down in response to the prospects of individual companies, particular sectors or governments and/or general economic conditions throughout the world due to increasingly interconnected global economies and financial markets. Events such as war, military conflict, geopolitical disputes, acts of terrorism, social or political unrest, natural disasters, recessions, inflation, rapid interest rate changes, supply chain disruptions, tariffs and other restrictions on trade, sanctions or the spread of infectious illness or other public health threats, or the threat or potential of one or more such events and developments, could also significantly impact a Fund and its investments. Additionally, a Fund may also be exposed to credit risk in the event that an issuer or guarantor fails to perform or that an institution or entity with which a Fund has unsettled or open transactions defaults.

------

GOLDMAN SACHS DIVIDEND FOCUS FUNDS

*July 31, 2025 (Unaudited)* 

**NOTES TO THE SCHEDULE OF INVESTMENTS (continued)** 

**Master Limited Partnership Risk** — Investments in securities of MLPs involve risks that differ from investments in common stock, including risks related to limited control and limited rights to vote on matters affecting the MLP, risks related to potential conflicts of interest between the MLP and the MLP's general partner, cash flow risks, dilution risks, limited liquidity and risks related to the general partner's right to require unit-holders to sell their common units at an undesirable time or price.

**Other Investments Risk** — By investing in pooled investment vehicles (including investment companies and ETFs), partnerships and REITs indirectly through the Fund, investors will incur a proportionate share of the expenses of the other pooled investment vehicles, partnerships and REITs held by the Fund (including operating costs and investment management fees) in addition to the fees and expenses regularly borne by the Fund. In addition, the Fund will be affected by the investment policies, practices and performance of such investments in direct proportion to the amount of assets the Fund invests therein.

**REIT Risk** — Risks associated with investments in the real estate industry (such as REITs) include, among others: possible declines in the value of real estate; risks related to general and local economic conditions; possible lack of availability of mortgage financing, variations in rental income, neighborhood values or the appeal of property to tenants; interest rates; overbuilding; extended vacancies of properties; increases in competition, property taxes and operating expenses; and changes in zoning laws. REITs whose underlying properties are concentrated in a particular industry or geographic region are subject to risks affecting such industries and regions. The securities of REITs involve greater risks than those associated with larger, more established companies and may be subject to more abrupt or erratic price movements because of interest rate changes, economic conditions and other factors. Securities of such issuers may lack sufficient market liquidity to enable the Fund to effect sales at an advantageous time or without a substantial drop in price.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** GOLDMAN SACHS TRUST

- **b. Investment Company Act file number:** 811-05349

- **c. CIK number of Registrant:** 0000822977

- **d. LEI of Registrant:** S2FHCT8U6D2VORP0J605

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

  - **Street Address 1:** 71  SOUTH WACKER DRIVE

  - **City:** CHICAGO

  - **State:** IL

  - **Foreign country:** US

  - **Zip / Postal Code:** 60606

  - **Telephone number:** 312-655-4400

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

- **a. Name of Series:** Goldman Sachs Income Builder Fund

- **b. EDGAR series identifier (if any):** S000009342

- **c. LEI of Series:** J2WM8Q8H6QHKH0TBNJ23

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

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

- **b. Date as of which information is reported:** 2025-07-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $2613469589.23

**Total Liabilities:** $22057129.13

**Net Assets:** $2591412460.10

**Delayed Delivery Securities:** $10730932.50

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -836.11000000 | **1-Year:** -12501.33000000 | **5-Year:** -63217.25000000 | **10-Year:** -57471.14000000 | **30-Year:** -13114.10000000

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

- **3-Month:** -3785.88000000 | **1-Year:** -91118.65000000 | **5-Year:** -201044.47000000 | **10-Year:** -39423.20000000 | **30-Year:** -7067.56000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000161511 | 2.17%                | 2.52%                | 0.56%                |
| Class ID C000201720 | 2.17%                | 2.55%                | 0.56%                |
| Class ID C000025613 | 2.17%                | 2.51%                | 0.56%                |
| Class ID C000091959 | 2.17%                | 2.52%                | 0.59%                |
| Class ID C000025615 | 2.13%                | 2.53%                | 0.54%                |
| Class ID C000025617 | 2.07%                | 2.44%                | 0.49%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1597265.00              | $46891704.99                               |
| Month 2  | $-562815.93              | $49058795.72                               |
| Month 3  | $-1508146.98             | $10962956.00                               |

**Designated Index Information**

- **Index Name:** Russell 1000 Value Index (60%) and ICE BofAML BB to B U.S. High Yield Constrained Index (40%)

- **Index Identifier:** CUGSINC0YD

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Honeywell International Inc                             | Honeywell International Inc                                                                            | CUSIP: 438516106<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | EC               | CORP              | US        |     66854 | NS      | $14864986.90  | 0.57%             |  |  |  | No            |                  1 | 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        |   4549520 | PA      | $4572268.00   | 0.18%             | 2030-04-30      | Floating      | 7.20%                 | No            |                  2 | On Loan: No      |
| MATADOR RESOURCES CO                                    | Matador Resources Co                                                                                   | CUSIP: 576485AG1<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | DBT              | CORP              | US        |   1340000 | PA      | $1342211.00   | 0.05%             | 2032-04-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| IHS HOLDING LTD                                         | IHS Holding Ltd                                                                                        | CUSIP: 44963HAA3<br>LEI: 213800CLGMKL63VKTD94 | Long             | DBT              | CORP              | KY        |    293000 | PA      | $287506.25    | 0.01%             | 2026-11-29      | Fixed         | 5.62%                 | 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        |   2611875 | PA      | $2601349.14   | 0.10%             | 2031-12-02      | Floating      | 8.83%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                     | Petroleos Mexicanos                                                                                    | CUSIP: 71654QCK6<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    550000 | PA      | $535397.50    | 0.02%             | 2028-02-12      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| HILTON GRAND VAC LLC/INC                                | Hilton Grand Vacations Borrower LLC / Hilton Grand Vacations Borrower Inc                              | CUSIP: 43284MAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3640000 | PA      | $3482642.80   | 0.13%             | 2029-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LUNA 2 5SARL                                            | Luna 2 5SARL                                                                                           | CUSIP: 000000000<br>LEI: 894500N8J2QVEYP0UI86 | Long             | DBT              | CORP              | LU        |    932000 | PA      | $1099600.69   | 0.04%             | 2032-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| VERISURE MIDHOLDING AB                                  | Verisure Midholding AB                                                                                 | CUSIP: 000000000<br>LEI: 549300496LYEZ55X1M49 | Long             | DBT              | CORP              | SE        |    800000 | PA      | $920171.96    | 0.04%             | 2029-02-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                            | Broadcom Inc                                                                                           | CUSIP: 11135FBQ3<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |   3184000 | PA      | $2627978.08   | 0.10%             | 2036-11-15      | Fixed         | 3.19%                 | No            |                  2 | On Loan: No      |
| NAVOI MINING METALLURGIC                                | Navoi Mining & Metallurgical Combinat                                                                  | CUSIP: 63890CAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | UZ        |    200000 | PA      | $204876.00    | 0.01%             | 2028-10-17      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| LIMAK CIMENTO SANAYI                                    | Limak Cimento Sanayi ve Ticaret AS                                                                     | CUSIP: 000000000<br>LEI: 789000EEUQIGHI88WH47 | Long             | DBT              | CORP              | TR        |    990000 | PA      | $1013819.40   | 0.04%             | 2029-07-25      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| ANTERO MIDSTREAM PART/FI                                | Antero Midstream Partners LP / Antero Midstream Finance Corp                                           | CUSIP: 03690AAK2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2340000 | PA      | $2402712.00   | 0.09%             | 2032-02-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                     | Petroleos Mexicanos                                                                                    | CUSIP: 71654QDB5<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |     96000 | PA      | $96000.00     | 0.00%             | 2027-01-23      | Fixed         | 6.49%                 | No            |                  2 | On Loan: No      |
| LIGHTNING POWER LLC                                     | Lightning Power LLC                                                                                    | CUSIP: 53229KAA7<br>LEI: 254900BWCHJ03XRL8K59 | Long             | DBT              | CORP              | US        |   4213000 | PA      | $4407851.25   | 0.17%             | 2032-08-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| SPECTRUM BRANDS INC                                     | Spectrum Brands Inc                                                                                    | CUSIP: 84762LAX3<br>LEI: 549300VU3EH2E73C1Q04 | Long             | DBT              | CORP              | US        |    442000 | PA      | $352238.64    | 0.01%             | 2031-03-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL                                  | NextEra Energy Capital Holdings Inc                                                                    | CUSIP: 65339KDE7<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |   1125000 | PA      | $1155375.00   | 0.04%             | 2055-08-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Shell PLC                                               | Shell PLC                                                                                              | CUSIP: 780259305<br>LEI: 21380068P1DRHMJ8KU70 | Long             | EC               | CORP              | GB        |    236561 | NS      | $17082069.81  | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Cisco Systems Inc                                       | Cisco Systems Inc                                                                                      | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |    218180 | NS      | $14853694.40  | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| ION TRADING TECHNOLOGIES                                | ION Trading Technologies Sarl                                                                          | CUSIP: 46205YAB7<br>LEI: 5493009ZVXOKZLQ6QJ12 | Long             | DBT              | CORP              | LU        |   1980000 | PA      | $2067417.00   | 0.08%             | 2029-05-30      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| BROADSTREET PARTNERS INC                                | Broadstreet Partners Inc 2024 Term Loan B4                                                             | CUSIP: 11132VAY5<br>LEI: 549300BS9N54G8DD0R75 | Long             | LON              | CORP              | US        |    650000 | PA      | $650370.50    | 0.03%             | 2031-06-13      | Floating      | 7.11%                 | No            |                  2 | On Loan: No      |
| AUDACY CAPITAL CORP                                     | AUDACY CAPITAL CORP                                                                                    | CUSIP: 000000000<br>LEI: 549300S5JUSXRHNCHD80 | Long             | EC               | CORP              | US        |      4011 | NS      | $52143.00     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Salesforce Inc                                          | Salesforce Inc                                                                                         | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |     32204 | NS      | $8319259.32   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| MGM RESORTS INTL                                        | MGM Resorts International                                                                              | CUSIP: 552953CH2<br>LEI: 54930066VBP7DZEGGJ87 | Long             | DBT              | CORP              | US        |   1757000 | PA      | $1734896.94   | 0.07%             | 2028-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| VERISURE HOLDING AB                                     | Verisure Holding AB                                                                                    | CUSIP: 000000000<br>LEI: 549300VQQCWGISM3N408 | Long             | DBT              | CORP              | SE        |   2033000 | PA      | $2422929.92   | 0.09%             | 2030-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| UKRAINE GOVERNMENT                                      | Ukraine Government International Bond                                                                  | CUSIP: 903724CG5<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |     15203 | PA      | $7183.42      | 0.00%             | 2036-02-01      | Variable      | 0.00%                 | 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        |   2253000 | PA      | $2273952.90   | 0.09%             | 2030-07-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| FNZ GROUP SERVICES LTD                                  | FNZ Group Services Ltd 2024 USD Term Loan B                                                            | CUSIP: 30339HAD3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1246875 | PA      | $1004981.25   | 0.04%             | 2031-11-05      | Floating      | 9.26%                 | No            |                  2 | On Loan: No      |
| L3Harris Technologies Inc                               | L3Harris Technologies Inc                                                                              | CUSIP: 502431109<br>LEI: 549300UTE50ZMDBG8A20 | Long             | EC               | CORP              | US        |     24803 | NS      | $6816360.46   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| NEW HOME CO INC/THE                                     | New Home Co Inc/The                                                                                    | CUSIP: 645370AG2<br>LEI: 549300PLCE8TB3TVRQ85 | Long             | DBT              | CORP              | US        |   3250000 | PA      | $3320427.50   | 0.13%             | 2030-11-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                  | US 10YR ULTRA FUT SEP25                                                                                | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |         4 | NC      | $6571.12      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| CUMULUS MEDIA NEW HLDGS                                 | Cumulus Media New Holdings Inc                                                                         | CUSIP: 23110AAB2<br>LEI: 5493001D9VBAVY1OKJ46 | Long             | DBT              | CORP              | US        |   2205000 | PA      | $577798.20    | 0.02%             | 2029-07-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| CONSTELLATION BRANDS INC                                | Constellation Brands Inc                                                                               | CUSIP: 21036PBH0<br>LEI: 5493005GKEG8QCVY7037 | Long             | DBT              | CORP              | US        |   3815000 | PA      | $3305888.25   | 0.13%             | 2031-08-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| DISH NETWORK CORP                                       | DISH Network Corp                                                                                      | CUSIP: 25470MAG4<br>LEI: 529900U350CWHH15G169 | Long             | DBT              | CORP              | US        |   1740000 | PA      | $1811705.40   | 0.07%             | 2027-11-15      | Fixed         | 11.75%                | No            |                  2 | On Loan: No      |
| Sunac Services Holdings Ltd                             | Sunac Services Holdings Ltd                                                                            | CUSIP: 000000000<br>LEI: 549300K4OFRSVPWF2W77 | Long             | EC               | CORP              | KY        |    122732 | NS      | $27964.18     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| MELCO RESORTS FINANCE                                   | Melco Resorts Finance Ltd                                                                              | CUSIP: 58547DAH2<br>LEI: 5493000FQDBWKDBZEF60 | Long             | DBT              | CORP              | KY        |   1360000 | PA      | $1395700.00   | 0.05%             | 2032-04-17      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| STANDARD INDUSTRI INC/NY                                | Standard Industries Inc/NY                                                                             | CUSIP: 853496AG2<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |   1805000 | PA      | $1709010.10   | 0.07%             | 2030-07-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| GRUPO NUTRESA SA                                        | Grupo Nutresa SA                                                                                       | CUSIP: 40055CAB9<br>LEI: 254900KKAX7B7RJUE255 | Long             | DBT              | CORP              | CO        |    300000 | PA      | $328050.00    | 0.01%             | 2035-05-12      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| US FOODS INC                                            | US Foods Inc                                                                                           | CUSIP: 90290MAE1<br>LEI: 5493000JOOFAOUY1JZ87 | Long             | DBT              | CORP              | US        |    980000 | PA      | $944994.40    | 0.04%             | 2030-06-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| WILDFIRE INTERMEDIATE HO                                | Wildfire Intermediate Holdings LLC                                                                     | CUSIP: 96812HAA6<br>LEI: 5493003RHEMQJZEXIR02 | Long             | DBT              | CORP              | US        |    925000 | PA      | $921022.50    | 0.04%             | 2029-10-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                                    | Royal Bank of Canada                                                                                   | CUSIP: 780082AR4<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |   3115000 | PA      | $3245705.40   | 0.13%             | 2084-05-02      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO                                | Clear Channel Outdoor Holdings Inc                                                                     | CUSIP: 18453HAG1<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |    883000 | PA      | $881763.80    | 0.03%             | 2031-02-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| PIKE CORP                                               | Pike Corp                                                                                              | CUSIP: 721283AA7<br>LEI: 549300P4EKEP6HK0NC58 | Long             | DBT              | CORP              | US        |   2320000 | PA      | $2310441.60   | 0.09%             | 2028-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CHAMP ACQUISITION CORP                                  | Champ Acquisition Corp                                                                                 | CUSIP: 15807XAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3710000 | PA      | $3928110.90   | 0.15%             | 2031-12-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| SS&C Technologies Inc                                   | SS&C Technologies Inc                                                                                  | CUSIP: 78466CAC0<br>LEI: 549300KY09TR3J12JU49 | Long             | DBT              | CORP              | US        |    815000 | PA      | $815040.75    | 0.03%             | 2027-09-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BLUE RACER MID LLC/FINAN                                | Blue Racer Midstream LLC / Blue Racer Finance Corp                                                     | CUSIP: 095796AK4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    680000 | PA      | $717066.80    | 0.03%             | 2032-07-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Nigeria Government International Bonds                  | Nigeria Government International Bonds                                                                 | CUSIP: 000000000<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |    400000 | PA      | $325624.00    | 0.01%             | 2047-11-28      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                     | JPMorgan Chase & Co                                                                                    | CUSIP: 48128BAQ4<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   3592000 | PA      | $3762188.96   | 0.15%             | 2029-06-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO                                     | American Express Co                                                                                    | CUSIP: 025816CH0<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    960000 | PA      | $938332.80    | 0.04%             | 2026-09-15      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| MOLINA HEALTHCARE INC                                   | Molina Healthcare Inc                                                                                  | CUSIP: 60855RAM2<br>LEI: 549300NQQCEQ46YHZ591 | Long             | DBT              | CORP              | US        |   2275000 | PA      | $2244970.00   | 0.09%             | 2033-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| ARKO CORP                                               | Arko Corp                                                                                              | CUSIP: 041242AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1590000 | PA      | $1303641.00   | 0.05%             | 2029-11-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| UKRAINE GOVERNMENT                                      | Ukraine Government International Bond                                                                  | CUSIP: 903724CA8<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |     42304 | PA      | $21786.56     | 0.00%             | 2034-02-01      | Variable      | 1.75%                 | No            |                  2 | On Loan: No      |
| IHS HOLDING LTD                                         | IHS Holding Ltd                                                                                        | CUSIP: 44963HAB1<br>LEI: 213800CLGMKL63VKTD94 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $196640.00    | 0.01%             | 2028-11-29      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| PHINIA INC                                              | Phinia Inc                                                                                             | CUSIP: 71880KAA9<br>LEI: 254900HG6MORZE1FFM18 | Long             | DBT              | CORP              | US        |   4109000 | PA      | $4229229.34   | 0.16%             | 2029-04-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| BENIN INTL GOV BOND                                     | Benin Government International Bond                                                                    | CUSIP: 000000000<br>LEI: 635400Q11P6AE5A5Y230 | Long             | DBT              | NUSS              | BJ        |    220000 | PA      | $212781.80    | 0.01%             | 2038-02-13      | Fixed         | 7.96%                 | No            |                  2 | On Loan: No      |
| AG TTMT ESCROW ISSUER                                   | AG TTMT Escrow Issuer LLC                                                                              | CUSIP: 00840KAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    985000 | PA      | $1011506.35   | 0.04%             | 2027-09-30      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| ADAPTHEALTH LLC                                         | AdaptHealth LLC                                                                                        | CUSIP: 00653VAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    645000 | PA      | $604513.35    | 0.02%             | 2029-08-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| GENTING NY LLC/GENNY CAP                                | Genting New York LLC / GENNY Capital Inc                                                               | CUSIP: 37255JAB8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4225000 | PA      | $4353693.50   | 0.17%             | 2029-10-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| TALLGRASS NRG PRTNR/FIN                                 | Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp                                           | CUSIP: 87470LAJ0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    505000 | PA      | $494869.70    | 0.02%             | 2030-12-31      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Banco Bilbao Vizcaya Argentaria SA                      | Banco Bilbao Vizcaya Argentaria SA                                                                     | CUSIP: 05946K101<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | EC               | CORP              | ES        |    792667 | NS      | $13261318.91  | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Hoya Corp                                               | Hoya Corp                                                                                              | CUSIP: 443251103<br>LEI: 353800X4VR3BHEUCJB42 | Long             | EC               | CORP              | JP        |     49842 | NS      | $6354855.00   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| SUMMIT MIDSTREAM HOLDING                                | Summit Midstream Holdings LLC                                                                          | CUSIP: 86614JAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4215000 | PA      | $4289816.25   | 0.17%             | 2029-10-31      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| KINETIK HOLDINGS LP                                     | Kinetik Holdings LP                                                                                    | CUSIP: 49461MAA8<br>LEI: 549300RD6AJIMYC0HY12 | Long             | DBT              | CORP              | US        |   3350000 | PA      | $3351373.50   | 0.13%             | 2030-06-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| MATADOR RESOURCES CO                                    | Matador Resources Co                                                                                   | CUSIP: 576485AF3<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | DBT              | CORP              | US        |   2680000 | PA      | $2723067.60   | 0.11%             | 2028-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| ALBERTSONS COS/SAFEWAY                                  | Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC                                  | CUSIP: 013092AB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1915000 | PA      | $1914348.90   | 0.07%             | 2028-02-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| TRC Companies LLC                                       | TRC Companies LLC 2025 Term Loan B                                                                     | CUSIP: 29280KAH8<br>LEI: 254900PXZ95ALUX12V67 | Long             | LON              | CORP              | US        |   3359189 | PA      | $3355829.60   | 0.13%             | 2028-12-08      | Floating      | 7.36%                 | No            |                  2 | On Loan: No      |
| Rio Tinto PLC                                           | Rio Tinto PLC                                                                                          | CUSIP: 767204100<br>LEI: 213800YOEO5OQ72G2R82 | Long             | EC               | CORP              | GB        |    227775 | NS      | $13614111.75  | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| YUZHOU GROUP                                            | Yuzhou Group Holdings Co Ltd                                                                           | CUSIP: 000000000<br>LEI: 213800MP59KHGJSPHE82 | Long             | DBT              | CORP              | KY        |    380000 | PA      | $5700.00      | 0.00%             | 2025-09-29      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| American Water Works Co Inc                             | American Water Works Co Inc                                                                            | CUSIP: 030420103<br>LEI: 549300DXHIJQMD5WFW18 | Long             | EC               | CORP              | US        |     41215 | NS      | $5779991.60   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| TIDEWATER INC                                           | Tidewater Inc                                                                                          | CUSIP: 88642RAE9<br>LEI: 2549000JA5GRUPLMUH98 | Long             | DBT              | CORP              | US        |   2600000 | PA      | $2726152.00   | 0.11%             | 2030-07-15      | Fixed         | 9.12%                 | No            |                  2 | On Loan: No      |
| Dominion Energy Inc                                     | Dominion Energy Inc                                                                                    | CUSIP: 25746U109<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | EC               | CORP              | US        |    191075 | NS      | $11168333.75  | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| KRONOS ACQUISITION HOLDI                                | Kronos Acquisition Holdings Inc                                                                        | CUSIP: 50106GAG7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1230000 | PA      | $1067320.20   | 0.04%             | 2031-06-30      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| BECLE SA DE CV                                          | Becle SAB de CV                                                                                        | CUSIP: 000000000<br>LEI: 529900JY55CZKMJLCE09 | Long             | DBT              | CORP              | MX        |    200000 | PA      | $166600.00    | 0.01%             | 2031-10-14      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| ENTERPRISE PRODUCTS OPER                                | Enterprise Products Operating LLC                                                                      | CUSIP: 29379VAN3<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |    960000 | PA      | $955084.80    | 0.04%             | 2067-06-01      | Variable      | 7.37%                 | No            |                  2 | On Loan: No      |
| Johnson & Johnson                                       | Johnson & Johnson                                                                                      | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |    113197 | NS      | $18648073.78  | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| COUGAR JV SUBSIDIARY LLC                                | Cougar JV Subsidiary LLC                                                                               | CUSIP: 22208WAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3252000 | PA      | $3437786.76   | 0.13%             | 2032-05-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| McDonald's Corp                                         | McDonald's Corp                                                                                        | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Long             | EC               | CORP              | US        |     54240 | NS      | $16275796.80  | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| CHORD ENERGY CORP                                       | Chord Energy Corp                                                                                      | CUSIP: 674215AN8<br>LEI: 529900FA4V2YNIKZ0M71 | Long             | DBT              | CORP              | US        |   1860000 | PA      | $1896828.00   | 0.07%             | 2033-03-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CIRSA FINANCE INTER                                     | Cirsa Finance International Sarl                                                                       | CUSIP: 000000000<br>LEI: 254900KUJN6DHWH2K029 | Long             | DBT              | CORP              | LU        |    511000 | PA      | $610222.89    | 0.02%             | 2029-03-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| AZULE ENERGY FINANCE PLC                                | Azule Energy Finance Plc                                                                               | CUSIP: 05501YAA6<br>LEI: 2138006X6O82RJSQDB63 | Long             | DBT              | CORP              | GB        |    750000 | PA      | $753300.00    | 0.03%             | 2030-01-23      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| LIMAK ISKENDERUN                                        | Limak Iskenderun Uluslararasi Liman Isletmeciligi AS                                                   | CUSIP: 53263TAA5<br>LEI: 5299001DUZ9PI7TCRC47 | Long             | DBT              | CORP              | TR        |    875081 | PA      | $875352.63    | 0.03%             | 2036-07-10      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL                                  | NextEra Energy Capital Holdings Inc                                                                    | CUSIP: 65339KDF4<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |   1645000 | PA      | $1700864.20   | 0.07%             | 2055-08-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES                                  | PNC Financial Services Group Inc/The                                                                   | CUSIP: 693475BF1<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |   2880000 | PA      | $2917382.40   | 0.11%             | 2027-09-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                           | TransDigm Inc                                                                                          | CUSIP: 893647BT3<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |     95000 | PA      | $98944.40     | 0.00%             | 2031-12-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Aspect Software, Inc.                                   | Aspect Class B Warrants                                                                                | CUSIP: 000000000<br>LEI: 549300DDK3ZCQPZWVP70 | N/A              | DE               |  | US        |    194739 | NS      | $194.74       | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| CITIGROUP INC                                           | Citigroup Inc                                                                                          | CUSIP: 172967PM7<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   2110000 | PA      | $2194020.20   | 0.08%             | 2034-08-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| BROOKFIELD PPTY REIT INC                                | Brookfield Property REIT Inc / BPR Cumulus LLC / BPR Nimbus LLC / GGSI Sellco LL                       | CUSIP: 11284DAA3<br>LEI: N/A                  | Long             | DBT              |  | US        |    376000 | PA      | $374796.80    | 0.01%             | 2026-05-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| SASOL FINANCING USA LLC                                 | Sasol Financing USA LLC                                                                                | CUSIP: 80386WAD7<br>LEI: 549300XRB1PFMESFEL85 | Long             | DBT              | CORP              | US        |    890000 | PA      | $738210.50    | 0.03%             | 2031-03-18      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ANKURA CONSULTING GROUP LLC                             | Ankura Consulting Group LLC 2024 Repriced Term Loan B                                                  | CUSIP: 03539PAJ7<br>LEI: 549300VJ5EU1KWD54I45 | Long             | LON              | CORP              | US        |   4900375 | PA      | $4912625.94   | 0.19%             | 2031-12-29      | Floating      | 7.80%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                           | Citigroup Inc                                                                                          | CUSIP: 172967MP3<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    865000 | PA      | $854966.00    | 0.03%             | 2031-03-31      | Fixed         | 4.41%                 | No            |                  2 | On Loan: No      |
| Teneo Holdings LLC                                      | Teneo Holdings LLC 2024 Term Loan B                                                                    | CUSIP: 88033CAM1<br>LEI: 254900JYFK02V3OP5U96 | Long             | LON              | CORP              | US        |   3250314 | PA      | $3268060.79   | 0.13%             | 2031-03-13      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| VISTAJET MALTA/VM HOLDS                                 | VistaJet Malta Finance PLC / Vista Management Holding Inc                                              | CUSIP: 92841HAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |   2392000 | PA      | $2457660.40   | 0.09%             | 2028-06-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| UnitedHealth Group Inc                                  | UnitedHealth Group Inc                                                                                 | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |     33503 | NS      | $8361008.68   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| TEGNA INC                                               | TEGNA Inc                                                                                              | CUSIP: 87901JAJ4<br>LEI: 549300YC5EDBGX85AO10 | Long             | DBT              | CORP              | US        |   2205000 | PA      | $2154902.40   | 0.08%             | 2028-03-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| ZI TECH LLC/ZI FIN CORP                                 | ZoomInfo Technologies LLC/ZoomInfo Finance Corp                                                        | CUSIP: 98981BAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1390000 | PA      | $1306711.20   | 0.05%             | 2029-02-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| UZBEK INDUSTRIAL AND CON                                | Uzbek Industrial and Construction Bank ATB                                                             | CUSIP: 917935AA6<br>LEI: 213800C2NIFPFTXYIU69 | Long             | DBT              | CORP              | UZ        |    970000 | PA      | $1026163.00   | 0.04%             | 2029-07-24      | Fixed         | 8.95%                 | No            |                  2 | On Loan: No      |
| MAVIS TIRE EXPRESS SERVI                                | Mavis Tire Express Services Topco Corp                                                                 | CUSIP: 59155LAA0<br>LEI: 254900NVDM4GTLBL9E56 | Long             | DBT              | CORP              | US        |   2516000 | PA      | $2486789.24   | 0.10%             | 2029-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ARCOR SAIC                                              | Arcor SAIC                                                                                             | CUSIP: 03965PAE1<br>LEI: 529900B2ROYOJG45VO88 | Long             | DBT              | CORP              | AR        |    240000 | PA      | $239640.00    | 0.01%             | 2033-07-31      | Fixed         | 7.60%                 | No            |                  2 | On Loan: No      |
| DYCOM INDUSTRIES INC                                    | Dycom Industries Inc                                                                                   | CUSIP: 267475AD3<br>LEI: 549300F56EKTHQI3WT60 | Long             | DBT              | CORP              | US        |   2654000 | PA      | $2572203.72   | 0.10%             | 2029-04-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                                | Charter Communications Operating LLC / Charter Communications Operating Capital                        | CUSIP: 161175AZ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  11515000 | PA      | $11926776.40  | 0.46%             | 2035-10-23      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| MOLINA HEALTHCARE INC                                   | Molina Healthcare Inc                                                                                  | CUSIP: 60855RAL4<br>LEI: 549300NQQCEQ46YHZ591 | Long             | DBT              | CORP              | US        |   1818000 | PA      | $1587404.88   | 0.06%             | 2032-05-15      | Fixed         | 3.88%                 | 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        |   3930250 | PA      | $3791865.90   | 0.15%             | 2029-03-01      | Floating      | 7.33%                 | No            |                  2 | On Loan: No      |
| BUCKEYE PARTNERS LP                                     | Buckeye Partners LP                                                                                    | CUSIP: 118230AV3<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |   2245000 | PA      | $2308892.70   | 0.09%             | 2029-07-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                                  | Venture Global LNG Inc                                                                                 | CUSIP: 92332YAA9<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |   3845000 | PA      | $3977921.65   | 0.15%             | 2028-06-01      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| FIEMEX ENERGIA - BANC AC                                | FIEMEX Energia - Banco Actinver SA Institucion de Banca Multiple                                       | CUSIP: 05974EAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | MX        |    495254 | PA      | $506396.90    | 0.02%             | 2041-01-31      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| COMMSCOPE LLC                                           | CommScope LLC                                                                                          | CUSIP: 20338MAA0<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |   1195000 | PA      | $1257247.55   | 0.05%             | 2031-12-15      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| PRESTIGE BRANDS INC                                     | Prestige Brands Inc                                                                                    | CUSIP: 74112BAM7<br>LEI: 549300JBVP4J6D42I235 | Long             | DBT              | CORP              | US        |   1780000 | PA      | $1629180.60   | 0.06%             | 2031-04-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| AXALTA COATING SYSTEMS                                  | Axalta Coating Systems LLC                                                                             | CUSIP: 05453GAC9<br>LEI: 549300G80QONCHILSF69 | Long             | DBT              | CORP              | US        |   2950000 | PA      | $2763619.00   | 0.11%             | 2029-02-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| BEACON MOBILITY CORP                                    | Beacon Mobility Corp                                                                                   | CUSIP: 073644AA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1330000 | PA      | $1355057.20   | 0.05%             | 2030-08-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                    | Bank of America Corp                                                                                   | CUSIP: 06055HAH6<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $6160620.00   | 0.24%             | 2030-05-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| VIRTUSA CORPORATION                                     | Virtusa Corporation 2024 Term Loan B                                                                   | CUSIP: 92828KAP7<br>LEI: C77OMXDER63WLJCSKT03 | Long             | LON              | CORP              | US        |   1855530 | PA      | $1853210.86   | 0.07%             | 2029-02-15      | Floating      | 7.61%                 | No            |                  2 | On Loan: No      |
| SAN MIGUEL GLOBAL POWER                                 | San Miguel Global Power Holdings Corp                                                                  | CUSIP: 000000000<br>LEI: 549300HBCE80QXKII590 | Long             | DBT              | CORP              | PH        |    350000 | PA      | $343875.00    | 0.01%             | 2029-12-02      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| NEWELL BRANDS INC                                       | Newell Brands Inc                                                                                      | CUSIP: 651229BE5<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |    730000 | PA      | $698376.40    | 0.03%             | 2032-05-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| CINEMARK USA INC                                        | Cinemark USA Inc                                                                                       | CUSIP: 172441BH9<br>LEI: 54930008H2137JSCPQ09 | Long             | DBT              | CORP              | US        |   1065000 | PA      | $1099633.80   | 0.04%             | 2032-08-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                                | Occidental Petroleum Corp                                                                              | CUSIP: 674599ED3<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |   2445000 | PA      | $2580575.25   | 0.10%             | 2030-09-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co                                        | Wells Fargo & Co                                                                                       | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               | CORP              | US        |    214611 | NS      | $17304084.93  | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| ACRISURE LLC / FIN INC                                  | Acrisure LLC / Acrisure Finance Inc                                                                    | CUSIP: 004961AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1065000 | PA      | $1078355.10   | 0.04%             | 2032-07-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| LAS VEGAS SANDS CORP                                    | Las Vegas Sands Corp                                                                                   | CUSIP: 517834AN7<br>LEI: 549300DUOO1KXOHPM605 | Long             | DBT              | CORP              | US        |    170000 | PA      | $174641.73    | 0.01%             | 2030-06-14      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                            | Broadcom Inc                                                                                           | CUSIP: 11135FBP5<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |   1781000 | PA      | $1496164.67   | 0.06%             | 2035-11-15      | Fixed         | 3.14%                 | No            |                  2 | On Loan: No      |
| AXON ENTERPRISE INC                                     | Axon Enterprise Inc                                                                                    | CUSIP: 05464CAD3<br>LEI: 549300QP2IEEGFE16681 | Long             | DBT              | CORP              | US        |    770000 | PA      | $789627.30    | 0.03%             | 2033-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| CZECHOSLOVAK GROUP                                      | Czechoslovak Group AS                                                                                  | CUSIP: 000000000<br>LEI: 315700SWFD7G70AVG768 | Long             | DBT              | CORP              | CZ        |    200000 | PA      | $202178.00    | 0.01%             | 2031-01-10      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ADAPTHEALTH LLC                                         | AdaptHealth LLC                                                                                        | CUSIP: 00653VAE1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    980000 | PA      | $921258.80    | 0.04%             | 2030-03-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| ECOPETROL SA                                            | Ecopetrol SA                                                                                           | CUSIP: 279158AN9<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | CORP              | CO        |     60000 | PA      | $60078.00     | 0.00%             | 2030-04-29      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Noble Corp PLC                                          | Noble Corp PLC                                                                                         | CUSIP: 000000000<br>LEI: 549300I3HBUNXO0OG954 | N/A              | DE               |  | GB        |      2644 | NS      | $42330.44     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| NextEra Energy Inc                                      | NextEra Energy Inc                                                                                     | CUSIP: 65339F101<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EC               | CORP              | US        |    163079 | NS      | $11588393.74  | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Hilton Worldwide Holdings Inc                           | Hilton Worldwide Holdings Inc                                                                          | CUSIP: 43300A203<br>LEI: 549300HVGPK36ICB0B89 | Long             | EC               | CORP              | US        |     39484 | NS      | $10584870.72  | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| HOWARD MIDSTREAM ENERGY                                 | Howard Midstream Energy Partners LLC                                                                   | CUSIP: 442722AC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1395000 | PA      | $1442569.50   | 0.06%             | 2032-07-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| ROCKETMTGE CO-ISSUER INC                                | Rocket Mortgage LLC / Rocket Mortgage Co-Issuer Inc                                                    | CUSIP: 77313LAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2295000 | PA      | $2031855.30   | 0.08%             | 2033-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Dynasty Acquisition Co Inc                              | Dynasty Acquisition Co Inc 2024 1st Lien Term Loan B1                                                  | CUSIP: 26812CAN6<br>LEI: 549300L1RCRPOAUCB870 | Long             | LON              | CORP              | US        |   1405603 | PA      | $1408681.60   | 0.05%             | 2031-10-31      | Floating      | 6.36%                 | No            |                  2 | On Loan: No      |
| ROCKET COS INC                                          | Rocket Cos Inc                                                                                         | CUSIP: 77311WAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1840000 | PA      | $1867158.40   | 0.07%             | 2030-08-01      | Fixed         | 6.12%                 | 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        |   1795000 | PA      | $1840898.15   | 0.07%             | 2029-02-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| DR Horton Inc                                           | DR Horton Inc                                                                                          | CUSIP: 23331A109<br>LEI: 529900ZIUEYVSB8QDD25 | Long             | EC               | CORP              | US        |     59614 | NS      | $8515263.76   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| AAL Delaware Holdco Inc                                 | AAL Delaware Holdco Inc 2025 Term Loan                                                                 | CUSIP: 00036YAD5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4515932 | PA      | $4515931.88   | 0.17%             | 2031-07-30      | Floating      | 7.11%                 | No            |                  2 | On Loan: No      |
| FUGUE FINANCE BV                                        | FUGUE FINANCE BV 2025 REPRICED TERM LOAN                                                               | CUSIP: 000000000<br>LEI: 254900Y4DWBRGAFENC88 | Long             | LON              | CORP              | US        |   4613438 | PA      | $4629077.05   | 0.18%             | 2032-01-09      | Floating      | 7.10%                 | No            |                  2 | On Loan: No      |
| ARD FINANCE SA                                          | ARD Finance SA                                                                                         | CUSIP: 00191AAD8<br>LEI: 6354006P6QPGGPVJW880 | Long             | DBT              | CORP              | LU        |   2179842 | PA      | $159084.87    | 0.01%             | 2027-06-30      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ATP TOW/ANDEAN TELECOM                                  | ATP Tower Holdings / Andean Telecom Partners Chile SpA / Andean Tower Partners C                       | CUSIP: 00193BAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    420000 | PA      | $425439.00    | 0.02%             | 2030-02-03      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| CREDIT BANK OF MOSCOW (C                                | Credit Bank of Moscow Via CBOM Finance PLC                                                             | CUSIP: 12504PAH3<br>LEI: 635400Y22HQLUDCVZX38 | Long             | DBT              | CORP              | IE        |    260000 | PA      | $0.00         | 0.00%             | 2025-01-29      | Fixed         | 4.70%                 | No            |                  3 | On Loan: No      |
| XEROX HOLDINGS CORP                                     | Xerox Holdings Corp                                                                                    | CUSIP: 98421MAA4<br>LEI: 5493000Y33XDVO2CXC18 | Long             | DBT              | CORP              | US        |    271000 | PA      | $270598.92    | 0.01%             | 2025-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Clark Equipment Company                                 | Clark Equipment Company 2024 Term Loan                                                                 | CUSIP: 18143EAL3<br>LEI: 549300X1FKNY520VPF71 | Long             | LON              | CORP              | US        |    297939 | PA      | $298871.60    | 0.01%             | 2029-04-20      | Floating      | 6.30%                 | No            |                  2 | On Loan: No      |
| WALKER & DUNLOP INC                                     | Walker & Dunlop Inc                                                                                    | CUSIP: 93148PAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1075000 | PA      | $1096381.75   | 0.04%             | 2033-04-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| iHeartMedia Inc                                         | iHeartMedia Inc                                                                                        | CUSIP: 45174J509<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    635140 | NS      | $1187711.80   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| AMSTED INDUSTRIES                                       | Amsted Industries Inc                                                                                  | CUSIP: 032177AK3<br>LEI: N2VLGYMEEBIU3PFSUY86 | Long             | DBT              | CORP              | US        |    580000 | PA      | $588694.20    | 0.02%             | 2033-03-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| CQP HOLDCO LP/BIP-V CHIN                                | CQP Holdco LP / BIP-V Chinook Holdco LLC                                                               | CUSIP: 12657NAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3880000 | PA      | $3792932.80   | 0.15%             | 2031-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| IVORY COAST                                             | Ivory Coast Government International Bond                                                              | CUSIP: 221625AM8<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |    212000 | PA      | $213325.00    | 0.01%             | 2028-03-03      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| CREDIT ACCEPTANC                                        | Credit Acceptance Corp                                                                                 | CUSIP: 225310AS0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1635000 | PA      | $1656124.20   | 0.06%             | 2030-03-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| AbbVie Inc                                              | AbbVie Inc                                                                                             | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |     56617 | NS      | $10701745.34  | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| BANCA TRANSILVANIA                                      | Banca Transilvania SA                                                                                  | CUSIP: 000000000<br>LEI: 549300RG3H390KEL8896 | Long             | DBT              | CORP              | RO        |    200000 | PA      | $236546.68    | 0.01%             | 2027-04-27      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| Freeport-McMoRan Inc                                    | Freeport-McMoRan Inc                                                                                   | CUSIP: 35671DBJ3<br>LEI: 549300IRDTHJQ1PVET45 | Long             | DBT              | CORP              | US        |   1920000 | PA      | $1939641.60   | 0.07%             | 2034-11-14      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| UNITED NATURAL FOODS INC                                | United Natural Foods Inc                                                                               | CUSIP: 911163AA1<br>LEI: 549300GKGW6WPZ282D40 | Long             | DBT              | CORP              | US        |   1970000 | PA      | $1961726.00   | 0.08%             | 2028-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| METLIFE INC                                             | MetLife Inc                                                                                            | CUSIP: 59156RCQ9<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | DBT              | CORP              | US        |   3045000 | PA      | $3128463.45   | 0.12%             | 2055-03-15      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| Iberdrola SA                                            | Iberdrola SA                                                                                           | CUSIP: 450737101<br>LEI: 5QK37QC7NWOJ8D7WVQ45 | Long             | EC               | CORP              | ES        |    152025 | NS      | $10679756.25  | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| WESCO DISTRIBUTION INC                                  | WESCO Distribution Inc                                                                                 | CUSIP: 95081QAR5<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |    730000 | PA      | $753126.40    | 0.03%             | 2032-03-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| CNX RESOURCES CORP                                      | CNX Resources Corp                                                                                     | CUSIP: 12653CAL2<br>LEI: 549300JK3KH8PWM3B226 | Long             | DBT              | CORP              | US        |   1865000 | PA      | $1920931.35   | 0.07%             | 2032-03-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                           | TransDigm Inc                                                                                          | CUSIP: 893647BQ9<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |   2156000 | PA      | $2115036.00   | 0.08%             | 2029-05-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Chamberlain Group Inc                                   | Chamberlain Group Inc Term Loan B                                                                      | CUSIP: 15963CAC0<br>LEI: 25490092IFNOZBRVE539 | Long             | LON              | CORP              | US        |   4270125 | PA      | $4269441.76   | 0.16%             | 2028-11-03      | Floating      | 7.71%                 | No            |                  2 | On Loan: No      |
| SHAMARAN PETROLEUM CORP                                 | ShaMaran Petroleum Corp                                                                                | CUSIP: 000000000<br>LEI: 529900227RVB89NZH924 | Long             | DBT              | CORP              | CA        |    201813 | PA      | $207173.66    | 0.01%             | 2029-07-30      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| VIVO ENERGY INVESTMENTS                                 | Vivo Energy Investments BV                                                                             | CUSIP: 000000000<br>LEI: 724500P3OXMB2IERLM56 | Long             | DBT              | CORP              | NL        |    290000 | PA      | $285049.70    | 0.01%             | 2027-09-24      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                | Long: BR233953  IRS USD R V 00MSOFR 1 CCPOIS / Short: BR233953  IRS USD P F  3.75000 2 CCPOIS          | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    350000 | OU      | $16715.12     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| HILLENBRAND INC                                         | Hillenbrand Inc                                                                                        | CUSIP: 431571AE8<br>LEI: U246OE781574J2BUD366 | Long             | DBT              | CORP              | US        |   1294000 | PA      | $1159462.82   | 0.04%             | 2031-03-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                                   | Level 3 Financing Inc                                                                                  | CUSIP: 527298CM3<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |   2155000 | PA      | $2186333.70   | 0.08%             | 2033-06-30      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| STATE STREET CORP                                       | State Street Corp                                                                                      | CUSIP: 857477CS0<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |   1950000 | PA      | $1983676.50   | 0.08%             | 2030-09-15      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| First Brands Group LLC                                  | First Brands Group LLC 2021 Term Loan                                                                  | CUSIP: 31935HAD9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3216556 | PA      | $3140163.15   | 0.12%             | 2027-03-30      | Floating      | 9.57%                 | No            |                  2 | On Loan: No      |
| QUIKRETE HOLDINGS INC                                   | Quikrete Holdings Inc                                                                                  | CUSIP: 74843PAA8<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |   1605000 | PA      | $1647243.60   | 0.06%             | 2032-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| WASTE PRO USA INC                                       | Waste Pro USA Inc                                                                                      | CUSIP: 94107JAC7<br>LEI: 549300BY1QXU5BI3UF28 | Long             | DBT              | CORP              | US        |   4305000 | PA      | $4468159.50   | 0.17%             | 2033-02-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA BUYER/ATLANTI                                | California Buyer Ltd / Atlantica Sustainable Infrastructure PLC                                        | CUSIP: 13005HAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |   2630000 | PA      | $2654432.70   | 0.10%             | 2032-02-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                    | Bank of America Corp                                                                                   | CUSIP: 06055HAK9<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1997160.00   | 0.08%             | 2030-07-26      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                                  | General Motors Financial Co Inc                                                                        | CUSIP: 37045XCS3<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |   1895000 | PA      | $1938300.75   | 0.07%             | 2029-01-17      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| HUNT OIL CO OF PERU                                     | Hunt Oil Co of Peru LLC Sucursal Del Peru                                                              | CUSIP: 445640AD7<br>LEI: 549300SVO0550J3IKN50 | Long             | DBT              | CORP              | PE        |    460000 | PA      | $486082.00    | 0.02%             | 2038-11-05      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| DELEK LOG PART/FINANCE                                  | Delek Logistics Partners LP / Delek Logistics Finance Corp                                             | CUSIP: 24665FAD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1405000 | PA      | $1461719.85   | 0.06%             | 2029-03-15      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| Sealed Air Corp                                         | Sealed Air Corp                                                                                        | CUSIP: 81211KAK6<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | DBT              | CORP              | US        |   1768000 | PA      | $1887835.04   | 0.07%             | 2033-07-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Fiserv Investment Solutions Inc                         | Fiserv Investment Solutions Inc 2020 Term Loan B                                                       | CUSIP: 33774UAC2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    617500 | PA      | $608237.43    | 0.02%             | 2027-02-18      | Floating      | 8.32%                 | No            |                  2 | On Loan: No      |
| Costco Wholesale Corp                                   | Costco Wholesale Corp                                                                                  | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               | CORP              | US        |     10118 | NS      | $9507277.52   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Syndigo LLC                                             | Syndigo LLC 2020 Term Loan                                                                             | CUSIP: 87167XAC7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1986812 | PA      | $1988064.19   | 0.08%             | 2027-12-15      | Floating      | 9.09%                 | No            |                  2 | On Loan: No      |
| YPF SOCIEDAD ANONIMA                                    | YPF SA                                                                                                 | CUSIP: 984245BB5<br>LEI: 5493003N7447U18U5U53 | Long             | DBT              | CORP              | AR        |    190000 | PA      | $191330.00    | 0.01%             | 2034-01-17      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| CIBANCO SA INS DE BANCA                                 | CIBANCO SA Institucion de Banca Multiple Trust CIB/3332                                                | CUSIP: 171653AA6<br>LEI: 549300PN33H8IMG2PD83 | Long             | DBT              |  | MX        |   1630000 | PA      | $1331710.00   | 0.05%             | 2031-07-22      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Panama Government International Bonds                   | Panama Government International Bonds                                                                  | CUSIP: 698299BB9<br>LEI: 549300SHS4T08CL0LP14 | Long             | DBT              | NUSS              | PA        |    930000 | PA      | $609963.75    | 0.02%             | 2053-04-29      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| 1261229 BC LTD                                          | 1261229 BC Ltd                                                                                         | CUSIP: 68288AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   1155000 | PA      | $1175674.50   | 0.05%             | 2032-04-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| ALLIANT HOLD / CO-ISSUER                                | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                                         | CUSIP: 01883LAE3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5275000 | PA      | $5346159.75   | 0.21%             | 2028-04-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ECHOSTAR CORP                                           | EchoStar Corp                                                                                          | CUSIP: 278768AC0<br>LEI: 549300EE20907QZ9GT38 | Long             | DBT              | CORP              | US        |   3085000 | PA      | $3250757.05   | 0.13%             | 2029-11-30      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                  | US ULTRA BOND CBT SEP25                                                                                | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |       448 | NC      | $738952.09    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| MEXICO CITY ARPT TRUST                                  | Mexico City Airport Trust                                                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | MX        |    300000 | PA      | $251304.00    | 0.01%             | 2047-07-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| EOG Resources Inc                                       | EOG Resources Inc                                                                                      | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |     60020 | NS      | $7203600.40   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| VALVOLINE INC                                           | Valvoline Inc                                                                                          | CUSIP: 92047WAG6<br>LEI: 549300CMHPBEY6VPOT75 | Long             | DBT              | CORP              | US        |    850000 | PA      | $765255.00    | 0.03%             | 2031-06-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| SIRIUS XM RADIO LLC                                     | Sirius XM Radio LLC                                                                                    | CUSIP: 82967NBM9<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |   2170000 | PA      | $1914742.90   | 0.07%             | 2031-09-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc                                           | Citigroup Inc                                                                                          | CUSIP: 172967KM2<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   1815000 | PA      | $1826525.25   | 0.07%             | 2026-08-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Eurex Deutschland                                       | EURO STOXX 50 SEP25                                                                                    | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DE               |  | DE        |       102 | NC      | $-37410.55    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| API GROUP DE INC                                        | APi Group DE Inc                                                                                       | CUSIP: 00185PAA9<br>LEI: 549300XP4G7B4QYA0G83 | Long             | DBT              | CORP              | US        |    550000 | PA      | $532130.50    | 0.02%             | 2029-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| BRIGHT PATTERN HOLDCO                                   | BRIGHT PATTERN HOLDCO                                                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    194739 | NS      | $194.74       | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| ASBURY AUTOMOTIVE GROUP                                 | Asbury Automotive Group Inc                                                                            | CUSIP: 043436AX2<br>LEI: 549300JH4DTA7U42GL91 | Long             | DBT              | CORP              | US        |    774000 | PA      | $732683.88    | 0.03%             | 2032-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OSAIC HOLDINGS INC                                      | Osaic Holdings Inc                                                                                     | CUSIP: 00791GAC1<br>LEI: 549300XL60BDV6UW5C86 | Long             | DBT              | CORP              | US        |     57000 | PA      | $57918.27     | 0.00%             | 2033-08-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                           | TransDigm Inc                                                                                          | CUSIP: 893647BP1<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |   6615000 | PA      | $6466427.10   | 0.25%             | 2029-01-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP                                               | Sunoco LP                                                                                              | CUSIP: 86765KAB5<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |   1280000 | PA      | $1329216.00   | 0.05%             | 2029-05-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| LABL INC                                                | LABL Inc                                                                                               | CUSIP: 50168QAF2<br>LEI: 5493004FUZN8R6Y3VB98 | Long             | DBT              | CORP              | US        |    755000 | PA      | $626400.85    | 0.02%             | 2031-10-01      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| TALLGRASS NRG PRTNR/FIN                                 | Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp                                           | CUSIP: 87470LAK7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4305000 | PA      | $4211495.40   | 0.16%             | 2031-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Regency Centers Corp                                    | Regency Centers Corp                                                                                   | CUSIP: 758849103<br>LEI: 529900053A7X7FJ97S58 | Long             | EC               |  | US        |     80221 | NS      | $5727779.40   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| KOSMOS ENERGY LTD                                       | Kosmos Energy Ltd                                                                                      | CUSIP: 500688AJ5<br>LEI: 213800YDFJ3OT9B5P157 | Long             | DBT              | CORP              | US        |    910000 | PA      | $702065.00    | 0.03%             | 2031-10-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| STONEX ESCROW ISSUER LLC                                | Stonex Escrow Issuer LLC                                                                               | CUSIP: 86189AAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    945000 | PA      | $962869.95    | 0.04%             | 2032-07-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| GUARA NORTE SARL                                        | Guara Norte Sarl                                                                                       | CUSIP: 000000000<br>LEI: 549300U2I4L03BBA3485 | Long             | DBT              | CORP              | LU        |    499388 | PA      | $480112.10    | 0.02%             | 2034-06-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| OPEN TEXT CORP                                          | Open Text Corp                                                                                         | CUSIP: 683715AD8<br>LEI: 549300HP7ONDQODZJV16 | Long             | DBT              | CORP              | CA        |   6665000 | PA      | $6238306.70   | 0.24%             | 2029-12-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| MEG ENERGY CORP                                         | MEG Energy Corp                                                                                        | CUSIP: 552704AF5<br>LEI: 5493002WXPTG5ZC1T326 | Long             | DBT              | CORP              | CA        |   1200000 | PA      | $1200312.00   | 0.05%             | 2029-02-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Sprint Capital Corp                                     | Sprint Capital Corp                                                                                    | CUSIP: 852060AT9<br>LEI: 549300L17W0GQBR1PO80 | Long             | DBT              | CORP              | US        |   1105000 | PA      | $1335027.85   | 0.05%             | 2032-03-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Omnicom Group Inc                                       | Omnicom Group Inc                                                                                      | CUSIP: 681919106<br>LEI: HKUPACFHSSASQK8HLS17 | Long             | EC               | CORP              | US        |     79572 | NS      | $5733162.60   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITI GROUP/CSL CAPITAL                                 | Uniti Group LP / Uniti Group Finance 2019 Inc / CSL Capital LLC                                        | CUSIP: 91327BAB6<br>LEI: N/A                  | Long             | DBT              |  | US        |   2055000 | PA      | $1994624.10   | 0.08%             | 2028-04-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| REGAL REXNORD CORP                                      | Regal Rexnord Corp                                                                                     | CUSIP: 758750AN3<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | DBT              | CORP              | US        |   1940000 | PA      | $2031471.00   | 0.08%             | 2030-02-15      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| GEN DIGITAL INC                                         | Gen Digital Inc                                                                                        | CUSIP: 668771AM0<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | DBT              | CORP              | US        |   1170000 | PA      | $1193002.20   | 0.05%             | 2033-04-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BROADSTREET PARTNERS INC                                | BroadStreet Partners Inc                                                                               | CUSIP: 11135RAA3<br>LEI: 549300BS9N54G8DD0R75 | Long             | DBT              | CORP              | US        |   4409000 | PA      | $4378710.17   | 0.17%             | 2029-04-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| YAPI VE KREDI BANKASI AS                                | Yapi ve Kredi Bankasi AS                                                                               | CUSIP: 984848AS0<br>LEI: B85ZYWEZ5IZCZ2WNIO12 | Long             | DBT              | CORP              | TR        |    470000 | PA      | $492765.63    | 0.02%             | 2029-04-04      | Fixed         | 9.74%                 | No            |                  2 | On Loan: No      |
| FIESTA PURCHASER INC                                    | Fiesta Purchaser Inc                                                                                   | CUSIP: 31659AAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1193000 | PA      | $1263768.76   | 0.05%             | 2032-09-15      | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| CNTL AMR BOTTLING CORP                                  | Central American Bottling Corp / CBC Bottling Holdco SL / Beliv Holdco SL                              | CUSIP: 15239XAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | VG        |    200000 | PA      | $193558.00    | 0.01%             | 2029-04-27      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Xcel Energy Inc                                         | Xcel Energy Inc                                                                                        | CUSIP: 98389B100<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | EC               | CORP              | US        |    178771 | NS      | $13128942.24  | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| IHEARTCOMMUNICATIONS INC                                | iHeartCommunications Inc                                                                               | CUSIP: 45174HBL0<br>LEI: 54930076J6KDZL504O62 | Long             | DBT              | CORP              | US        |   2174000 | PA      | $1087434.80   | 0.04%             | 2030-05-01      | Fixed         | 10.88%                | No            |                  2 | On Loan: No      |
| NXP BV/NXP FDG/NXP USA                                  | NXP BV / NXP Funding LLC / NXP USA Inc                                                                 | CUSIP: 62954HAY4<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    942000 | PA      | $891113.16    | 0.03%             | 2030-05-01      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| POST HOLDINGS INC                                       | Post Holdings Inc                                                                                      | CUSIP: 737446AV6<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |   3611000 | PA      | $3618222.00   | 0.14%             | 2033-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| GROUP 1 AUTOMOTIVE INC                                  | Group 1 Automotive Inc                                                                                 | CUSIP: 398905AQ2<br>LEI: 549300US8QAZJLWYAF63 | Long             | DBT              | CORP              | US        |    480000 | PA      | $489729.60    | 0.02%             | 2030-01-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| CAS CAPITAL NO1 LTD                                     | CAS Capital No 1 Ltd                                                                                   | CUSIP: 000000000<br>LEI: 254900REJZW5L9QRTD85 | Long             | DBT              | CORP              | VG        |    204000 | PA      | $200838.00    | 0.01%             | 2026-07-12      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GRUPO AVAL LTD                                          | Grupo Aval Ltd                                                                                         | CUSIP: 000000000<br>LEI: 549300J4FW1ELLQ80113 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $183400.00    | 0.01%             | 2030-02-04      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| RED SUN PROPERTIES GRP                                  | Redsun Properties Group Ltd                                                                            | CUSIP: 000000000<br>LEI: 549300TYWIIKAOK07L47 | Long             | DBT              | CORP              | KY        |    230000 | PA      | $3450.00      | 0.00%             | 2025-01-13      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ROCKIES EXPRESS PIPELINE                                | ROCKIES EXPRESS PIPELINE                                                                               | CUSIP: 77340RAU1<br>LEI: W2ZGZGZKY5GGNY6F3V51 | Long             | DBT              | CORP              | US        |   1435000 | PA      | $1488138.05   | 0.06%             | 2033-03-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| MEDLINE BORROWER LP                                     | Medline Borrower LP                                                                                    | CUSIP: 62482BAA0<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |   3135000 | PA      | $2989661.40   | 0.12%             | 2029-04-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Icebox Holdco III Inc                                   | Icebox Holdco III Inc 2021 2nd Lien Term Loan                                                          | CUSIP: 45114NAF4<br>LEI: 254900DLB65AKI8CQ466 | Long             | LON              | CORP              | US        |    625000 | PA      | $632031.25    | 0.02%             | 2029-12-21      | Floating      | 11.31%                | No            |                  2 | On Loan: No      |
| UKRAINE GOVERNMENT                                      | Ukraine Government International Bond                                                                  | CUSIP: 903724BZ4<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |     63457 | PA      | $38708.77     | 0.00%             | 2029-02-01      | Variable      | 1.75%                 | No            |                  2 | On Loan: No      |
| SOMNIGROUP INTL INC                                     | Somnigroup International Inc                                                                           | CUSIP: 88023UAJ0<br>LEI: 549300HFEKVR3US71V91 | Long             | DBT              | CORP              | US        |   1455000 | PA      | $1313821.35   | 0.05%             | 2031-10-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| TUPY OVERSEAS SA                                        | Tupy Overseas SA                                                                                       | CUSIP: 000000000<br>LEI: 222100ZREIYU6AS2OO19 | Long             | DBT              | CORP              | LU        |    200000 | PA      | $173002.00    | 0.01%             | 2031-02-16      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BELRON UK FINANCE PLC                                   | Belron UK Finance PLC                                                                                  | CUSIP: 080782AA3<br>LEI: 9845006BC9D1A77B8178 | Long             | DBT              | CORP              | GB        |   1321000 | PA      | $1333615.55   | 0.05%             | 2029-10-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| AVOLON HOLDINGS FNDG LTD                                | Avolon Holdings Funding Ltd                                                                            | CUSIP: 05401AAJ0<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |   1245000 | PA      | $1213302.30   | 0.05%             | 2027-02-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Kraft Heinz Foods Co                                    | Kraft Heinz Foods Co                                                                                   | CUSIP: 50077LAB2<br>LEI: 5493003STKEZ2S0RNU91 | Long             | DBT              | CORP              | US        |   2487000 | PA      | $1976468.64   | 0.08%             | 2046-06-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| GARDA WORLD SECURITY                                    | Garda World Security Corp                                                                              | CUSIP: 36485MAM1<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | DBT              | CORP              | CA        |   1732000 | PA      | $1783249.88   | 0.07%             | 2028-02-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                                     | Petroleos Mexicanos                                                                                    | CUSIP: 71654QCG5<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    428000 | PA      | $427884.44    | 0.02%             | 2027-03-13      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. LLC                                | PURCHASED USD / SOLD EUR                                                                               | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              |  | US        |         1 | NC      | $4099.25      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| MIDCAP FINANCIAL                                        | Midcap Financial Issuer Trust                                                                          | CUSIP: 59590AAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    810000 | PA      | $760881.60    | 0.03%             | 2030-01-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| COMMERZBANK AG                                          | Commerzbank AG                                                                                         | CUSIP: 000000000<br>LEI: 851WYGNLUQLFZBSYGB56 | Long             | DBT              | CORP              | DE        |   2400000 | PA      | $2480544.00   | 0.10%             | 2030-10-09      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| LABL Inc                                                | LABL Inc 2021 USD 1st Lien Term Loan                                                                   | CUSIP: 50168EAN2<br>LEI: 5493004FUZN8R6Y3VB98 | Long             | LON              | CORP              | US        |   1833500 | PA      | $1655558.83   | 0.06%             | 2028-10-30      | Floating      | 9.46%                 | No            |                  2 | On Loan: No      |
| ANYWHERE RE GRP/REALOGY                                 | Anywhere Real Estate Group LLC / Realogy Co-Issuer Corp                                                | CUSIP: 75606DAL5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3565000 | PA      | $3174810.75   | 0.12%             | 2029-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Nokia of America Corp                                   | Nokia of America Corp                                                                                  | CUSIP: 549463AE7<br>LEI: 529900BF8WCYOHYGIJ13 | Long             | DBT              | CORP              | US        |   2880000 | PA      | $2814019.20   | 0.11%             | 2029-03-15      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| WILLIAMS COMPANIES INC                                  | Williams Cos Inc/The                                                                                   | CUSIP: 969457BB5<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |   6715000 | PA      | $7526440.60   | 0.29%             | 2031-01-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Republic of South Africa Government International Bonds | Republic of South Africa Government International Bonds                                                | CUSIP: 836205AV6<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    710000 | PA      | $495225.00    | 0.02%             | 2046-10-12      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOWE'S COS INC                                          | Lowe's Cos Inc                                                                                         | CUSIP: 548661EL7<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |   4220000 | PA      | $4248358.40   | 0.16%             | 2033-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| XPO INC                                                 | XPO Inc                                                                                                | CUSIP: 983793AK6<br>LEI: 54930096DB9LCLPN7H13 | Long             | DBT              | CORP              | US        |   1315000 | PA      | $1369007.05   | 0.05%             | 2032-02-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| OLYMPUS WTR US HLDG CORP                                | Olympus Water US Holding Corp                                                                          | CUSIP: 681639AD2<br>LEI: 549300YU2GGVCBN3MY89 | Long             | DBT              | CORP              | US        |   1925000 | PA      | $1967715.75   | 0.08%             | 2031-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                            | Broadcom Inc                                                                                           | CUSIP: 11135FBL4<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |   1984000 | PA      | $1763617.28   | 0.07%             | 2034-04-15      | Fixed         | 3.47%                 | No            |                  2 | On Loan: No      |
| BIDVEST GROUP UK PLC                                    | Bidvest Group UK PLC/The                                                                               | CUSIP: 000000000<br>LEI: 984500A80C777F496830 | Long             | DBT              | CORP              | GB        |    260000 | PA      | $255530.60    | 0.01%             | 2026-09-23      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| MELCO RESORTS FINANCE                                   | Melco Resorts Finance Ltd                                                                              | CUSIP: 000000000<br>LEI: 5493000FQDBWKDBZEF60 | Long             | DBT              | CORP              | KY        |    430000 | PA      | $428925.00    | 0.02%             | 2027-07-17      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                | Long: SR233950  IRS USD R F  3.75000 2 CCPOIS / Short: SR233950  IRS USD P V 00MSOFR 1 CCPOIS          | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        | 156610000 | OU      | $-1001818.51  | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                             | S+P500 EMINI FUT SEP25                                                                                 | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               |  | US        |       102 | NC      | $1443983.60   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Unilever PLC                                            | Unilever PLC                                                                                           | CUSIP: 904767704<br>LEI: 549300MKFYEKVRWML317 | Long             | EC               | CORP              | GB        |    154282 | NS      | $9014697.26   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| AMC NETWORKS INC                                        | AMC Networks Inc                                                                                       | CUSIP: 00164VAG8<br>LEI: 549300VGG9K75226LR46 | Long             | DBT              | CORP              | US        |    980000 | PA      | $1007048.00   | 0.04%             | 2029-01-15      | Fixed         | 10.25%                | No            |                  2 | On Loan: No      |
| SUNOCO LP/FINANCE CORP                                  | Sunoco LP / Sunoco Finance Corp                                                                        | CUSIP: 86765LAT4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6685000 | PA      | $6467470.10   | 0.25%             | 2029-05-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Truist Financial Corp                                   | Truist Financial Corp                                                                                  | CUSIP: 89832Q109<br>LEI: 549300DRQQI75D2JP341 | Long             | EC               | CORP              | US        |    203367 | NS      | $8889171.57   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| FOCUS FINANCIAL PARTNERS                                | Focus Financial Partners LLC                                                                           | CUSIP: 34417VAA5<br>LEI: 5493007L0E0VKRC2CP39 | Long             | DBT              | CORP              | US        |   2135000 | PA      | $2181564.35   | 0.08%             | 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        |   1585000 | PA      | $1688088.40   | 0.07%             | 2032-06-30      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| MCAFEE CORP                                             | McAfee Corp                                                                                            | CUSIP: 579063AB4<br>LEI: 2549009UKR8UEZYVCR93 | Long             | DBT              | CORP              | US        |   3295000 | PA      | $3058089.50   | 0.12%             | 2030-02-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| SCOTTS MIRACLE-GRO CO                                   | Scotts Miracle-Gro Co/The                                                                              | CUSIP: 810186AX4<br>LEI: 2TH9E0JTOUXOEGI2R879 | Long             | DBT              | CORP              | US        |   3552000 | PA      | $3245107.20   | 0.13%             | 2031-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CAESARS ENTERTAIN INC                                   | Caesars Entertainment Inc                                                                              | CUSIP: 12769GAA8<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |   4323000 | PA      | $4087093.89   | 0.16%             | 2029-10-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| CHEMOURS CO                                             | Chemours Co/The                                                                                        | CUSIP: 163851AJ7<br>LEI: 549300M1BOLNXL8DOV14 | Long             | DBT              | CORP              | US        |    530000 | PA      | $493090.80    | 0.02%             | 2033-01-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Texas Instruments Inc                                   | Texas Instruments Inc                                                                                  | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | EC               | CORP              | US        |     31714 | NS      | $5742136.84   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| QXO BUILDING PRODUCTS                                   | QXO Building Products Inc                                                                              | CUSIP: 74825NAA5<br>LEI: 549300HDXQWWCBOYXP31 | Long             | DBT              | CORP              | US        |   1245000 | PA      | $1282549.20   | 0.05%             | 2032-04-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| BANCO SANTANDER SA                                      | Banco Santander SA                                                                                     | CUSIP: 05971KAL3<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |   3400000 | PA      | $3039532.00   | 0.12%             | 2032-11-22      | Fixed         | 3.23%                 | No            |                  2 | On Loan: No      |
| UKRAINE GOVERNMENT                                      | Ukraine Government International Bond                                                                  | CUSIP: 903724CE0<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |     21588 | PA      | $8149.47      | 0.00%             | 2034-02-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| Oracle Corp                                             | Oracle Corp                                                                                            | CUSIP: 68389XBX2<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   1350000 | PA      | $927814.50    | 0.04%             | 2050-04-01      | Fixed         | 3.60%                 | 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        |   5735000 | PA      | $5700360.60   | 0.22%             | 2027-08-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| TRANSOCEAN INC                                          | Transocean Inc                                                                                         | CUSIP: 893830BY4<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | KY        |   1250000 | PA      | $1181150.00   | 0.05%             | 2029-05-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Alphabet Inc                                            | Alphabet Inc                                                                                           | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     68019 | NS      | $13052846.10  | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| DAVITA INC                                              | DaVita Inc                                                                                             | CUSIP: 23918KAT5<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |   6785000 | PA      | $6155080.60   | 0.24%             | 2031-02-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Transocean Poseidon Ltd                                 | Transocean Poseidon Ltd                                                                                | CUSIP: 89383JAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    525525 | PA      | $525577.55    | 0.02%             | 2027-02-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| BXP Inc                                                 | BXP Inc                                                                                                | CUSIP: 101121101<br>LEI: 549300OF70FSEUQBT254 | Long             | EC               |  | US        |     59380 | NS      | $3885233.40   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| ARCIS GOLF LLC                                          | Arcis Golf LLC 2025 Term Loan B                                                                        | CUSIP: 03958MAF4<br>LEI: 254900ZMGXNNIX4SXQ48 | Long             | LON              | CORP              | US        |   1970064 | PA      | $1970064.13   | 0.08%             | 2028-11-24      | Floating      | 7.11%                 | 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        |   2435000 | PA      | $2405414.75   | 0.09%             | 2033-06-30      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| NEWELL BRANDS INC                                       | Newell Brands Inc                                                                                      | CUSIP: 651229BG0<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |    860000 | PA      | $902148.60    | 0.03%             | 2028-06-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Phillips 66                                             | Phillips 66                                                                                            | CUSIP: 718546104<br>LEI: 5493005JBO5YSIGK1814 | Long             | EC               | CORP              | US        |     54908 | NS      | $6785530.64   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| UKRAINE GOVERNMENT                                      | Ukraine Government International Bond                                                                  | CUSIP: 903724CD2<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |      5777 | PA      | $2729.63      | 0.00%             | 2030-02-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| Prologis Inc                                            | Prologis Inc                                                                                           | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               |  | US        |     81696 | NS      | $8723498.88   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| ILLUMINATE BUYER LLC                                    | Illuminate Buyer LLC 2024 1st Lien Term Loan B                                                         | CUSIP: 45232UAG3<br>LEI: 549300K1Y0YC1YC1H809 | Long             | LON              | CORP              | US        |   4515875 | PA      | $4522332.70   | 0.17%             | 2029-12-31      | Floating      | 7.36%                 | No            |                  2 | On Loan: No      |
| AVIENT CORP                                             | Avient Corp                                                                                            | CUSIP: 05368VAA4<br>LEI: SM8L9RZYIB34LNTWO040 | Long             | DBT              | CORP              | US        |   1655000 | PA      | $1697169.40   | 0.07%             | 2030-08-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| National Grid PLC                                       | National Grid PLC                                                                                      | CUSIP: 636274409<br>LEI: 8R95QZMKZLJX5Q2XR704 | Long             | EC               | CORP              | GB        |    147503 | NS      | $10382736.17  | 0.40%             |  |  |  | No            |                  1 | On Loan: —       |
| First Brands Group LLC                                  | First Brands Group LLC 2021 2nd Lien Term Loan                                                         | CUSIP: 31935HAF4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2900000 | PA      | $2711500.00   | 0.10%             | 2028-03-30      | Floating      | 13.07%                | No            |                  2 | On Loan: No      |
| STATE STREET CORP                                       | State Street Corp                                                                                      | CUSIP: 857477CM3<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |   1920000 | PA      | $1997356.80   | 0.08%             | 2029-09-15      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| MINERALS TECHNOLOGIES IN                                | Minerals Technologies Inc                                                                              | CUSIP: 603158AA4<br>LEI: 549300D3I1QU67GP6403 | Long             | DBT              | CORP              | US        |   1625000 | PA      | $1600755.00   | 0.06%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CRESCENT ENERGY FINANCE                                 | Crescent Energy Finance LLC                                                                            | CUSIP: 45344LAD5<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |    455000 | PA      | $444771.60    | 0.02%             | 2032-04-01      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                | Long: BR233943  IRS USD R V 00MSOFR 1 CCPOIS / Short: BR233943  IRS USD P F  3.75000 2 CCPOIS          | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   2440000 | OU      | $4997.61      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Visa Inc                                                | Visa Inc                                                                                               | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |     19864 | NS      | $6862416.08   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Hewlett Packard Enterprise Co                           | Hewlett Packard Enterprise Co                                                                          | CUSIP: 42824C109<br>LEI: 549300BX44RGX6ANDV88 | Long             | EC               | CORP              | US        |    335646 | NS      | $6944515.74   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| INTELSAT EMERGENCE SA                                   | INTELSAT EMERGENCE SA                                                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | LU        |     35685 | NS      | $0.04         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| DNO ASA                                                 | DNO ASA                                                                                                | CUSIP: 000000000<br>LEI: 5967007LIEEXZXH3K072 | Long             | DBT              | CORP              | NO        |    330000 | PA      | $341385.00    | 0.01%             | 2029-06-04      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| CAB                                                     | CAB SELAS                                                                                              | CUSIP: 000000000<br>LEI: 9695008EGX5O9K1MS743 | Long             | DBT              | CORP              | FR        |   1207000 | PA      | $1319286.53   | 0.05%             | 2028-02-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| AXIAN TELE HOLD PLC                                     | Axian Telecom Holding & Management PLC                                                                 | CUSIP: 05465QAA7<br>LEI: 984500B7DCD97EB04857 | Long             | DBT              | CORP              | AE        |    200000 | PA      | $200200.00    | 0.01%             | 2030-07-11      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| TRANSATLANTIC HOLDINGS                                  | Transatlantic Holdings Inc                                                                             | CUSIP: 893521AB0<br>LEI: RN37QJVS1BV19MNIC295 | Long             | DBT              | CORP              | US        |     70000 | PA      | $87016.30     | 0.00%             | 2039-11-30      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| NATIONSTAR MTG HLD INC                                  | Nationstar Mortgage Holdings Inc                                                                       | CUSIP: 63861CAC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2541000 | PA      | $2538408.18   | 0.10%             | 2028-08-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| HOWDEN UK REFINANCE / US                                | Howden UK Refinance PLC / Howden UK Refinance 2 PLC / Howden US Refinance LLC                          | CUSIP: 44287DAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |   2975000 | PA      | $3098046.00   | 0.12%             | 2032-02-15      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| INTL AIRPORT FINANCE SA                                 | International Airport Finance SA                                                                       | CUSIP: 000000000<br>LEI: 959800M9M5LP0KXUP789 | Long             | DBT              | CORP              | ES        |    618191 | PA      | $660586.78    | 0.03%             | 2033-03-15      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| UNITED WHOLESALE MTGE LL                                | United Wholesale Mortgage LLC                                                                          | CUSIP: 913229AA8<br>LEI: 549300HW662MN1WU8550 | Long             | DBT              | CORP              | US        |   3065000 | PA      | $2999378.35   | 0.12%             | 2029-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ARDAGH PKG FIN/HLDGS USA                                | Ardagh Packaging Finance PLC / Ardagh Holdings USA Inc                                                 | CUSIP: 03969AAR1<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |   3095000 | PA      | $1532334.50   | 0.06%             | 2027-08-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TRUIST FINANCIAL CORP                                   | Truist Financial Corp                                                                                  | CUSIP: 89832QAE9<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |    960000 | PA      | $958147.20    | 0.04%             | 2025-09-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| DIAMOND SPORTS GROUP LLC                                | Diamond Sports Group LLC 2025 PIK Exit Term Loan                                                       | CUSIP: 25277EAB8<br>LEI: 549300MPO5H6LGX4RJ82 | Long             | LON              | CORP              | US        |     88378 | PA      | $76889.18     | 0.00%             | 2028-01-02      | Floating      | 15.00%                | No            |                  2 | On Loan: No      |
| COREWEAVE INC                                           | CoreWeave Inc                                                                                          | CUSIP: 21873SAB4<br>LEI: 984500511DP2B6186053 | Long             | DBT              | CORP              | US        |   3230000 | PA      | $3246408.40   | 0.13%             | 2030-06-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| EQT CORP                                                | EQT Corp                                                                                               | CUSIP: 26884LAN9<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |   1835000 | PA      | $1700916.55   | 0.07%             | 2031-05-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| ECOPETROL SA                                            | Ecopetrol SA                                                                                           | CUSIP: 279158AQ2<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | CORP              | CO        |    270000 | PA      | $184410.00    | 0.01%             | 2051-11-02      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ConnectWise LLC                                         | ConnectWise LLC 2021 Term Loan B                                                                       | CUSIP: 20786NAC1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4589332 | PA      | $4601631.03   | 0.18%             | 2028-09-29      | Floating      | 8.06%                 | No            |                  2 | On Loan: No      |
| HP ENTERPRISE CO                                        | Hewlett Packard Enterprise Co                                                                          | CUSIP: 42824CAX7<br>LEI: 549300BX44RGX6ANDV88 | Long             | DBT              | CORP              | US        |   2620000 | PA      | $2763314.00   | 0.11%             | 2035-10-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| BRASKEM NETHERLANDS                                     | Braskem Netherlands Finance BV                                                                         | CUSIP: 000000000<br>LEI: 2549000TLMHFQ74DS330 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $153000.00    | 0.01%             | 2028-01-10      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Icebox Holdco III Inc                                   | Icebox Holdco III Inc 2021 1st Lien Term Loan                                                          | CUSIP: 45114NAB3<br>LEI: 254900DLB65AKI8CQ466 | Long             | LON              | CORP              | US        |   2154556 | PA      | $2160459.47   | 0.08%             | 2028-12-22      | Floating      | 8.06%                 | No            |                  2 | On Loan: No      |
| Veritiv Corporation                                     | Veritiv Corporation Term Loan B                                                                        | CUSIP: 92338TAB2<br>LEI: 5493004G8OK5L1UTIY12 | Long             | LON              | CORP              | US        |   4626692 | PA      | $4641173.27   | 0.18%             | 2030-11-30      | Floating      | 8.30%                 | No            |                  2 | On Loan: No      |
| EXPEDIA GROUP INC                                       | Expedia Group Inc                                                                                      | CUSIP: 30212PAR6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3285000 | PA      | $3098050.65   | 0.12%             | 2030-02-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| TENGIZCHEVROIL FIN CO IN                                | Tengizchevroil Finance Co International Ltd                                                            | CUSIP: 000000000<br>LEI: 5493001VEV2XTJIBZH31 | Long             | DBT              | CORP              | BM        |    830000 | PA      | $825933.00    | 0.03%             | 2025-08-15      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| SPIRIT AEROSYSTEMS INC                                  | Spirit AeroSystems Inc                                                                                 | CUSIP: 85205TAR1<br>LEI: ZD2NBKV6GCC3UMGBM518 | Long             | DBT              | CORP              | US        |   2735000 | PA      | $3012356.35   | 0.12%             | 2030-11-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| Procter & Gamble Co/The                                 | Procter & Gamble Co/The                                                                                | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |    112099 | NS      | $16867536.53  | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Kaman Corporation                                       | Kaman Corporation 2025 Term Loan B                                                                     | CUSIP: 48354VAM4<br>LEI: 5493003YK076OLTEQF95 | Long             | LON              | CORP              | US        |   3289655 | PA      | $3290674.96   | 0.13%             | 2032-02-26      | Floating      | 7.08%                 | No            |                  2 | On Loan: No      |
| PERRIGO FINANCE UNLIMITE                                | Perrigo Finance Unlimited Co                                                                           | CUSIP: 71429MAD7<br>LEI: 549300E86RB6YCTMRM83 | Long             | DBT              | CORP              | IE        |    825000 | PA      | $830354.25    | 0.03%             | 2032-09-30      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| WYNN MACAU LTD                                          | Wynn Macau Ltd                                                                                         | CUSIP: 98313RAJ5<br>LEI: 254900NMDQ8ENTHU1I31 | Long             | DBT              | CORP              | KY        |    310000 | PA      | $319920.00    | 0.01%             | 2029-03-07      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CZECHOSLOVAK GROUP                                      | Czechoslovak Group AS                                                                                  | CUSIP: 000000000<br>LEI: 315700SWFD7G70AVG768 | Long             | DBT              | CORP              | CZ        |    100000 | PA      | $117258.25    | 0.00%             | 2031-01-10      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                | Long: BR233965  IRS EUR R V 06MEURIB 1 CCPVANILLA / Short: BR233965  IRS EUR P F  2.00000 2 CCPVANILLA | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | GB        |    210000 | OU      | $7933.37      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ALLIANT HOLD / CO-ISSUER                                | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                                         | CUSIP: 01883LAH6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1660000 | PA      | $1706778.80   | 0.07%             | 2032-10-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| BENIN INTL GOV BOND                                     | Benin Government International Bond                                                                    | CUSIP: 000000000<br>LEI: 635400Q11P6AE5A5Y230 | Long             | DBT              | NUSS              | BJ        |    131000 | PA      | $137082.89    | 0.01%             | 2032-01-19      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| OLYMPUS WTR US HLDG CORP                                | Olympus Water US Holding Corp                                                                          | CUSIP: 25259KAA8<br>LEI: 549300YU2GGVCBN3MY89 | Long             | DBT              | CORP              | US        |   2300000 | PA      | $2412217.00   | 0.09%             | 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        |   9118000 | PA      | $8704863.42   | 0.34%             | 2032-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA RESOURCES CRP                                | California Resources Corp                                                                              | CUSIP: 13057QAH0<br>LEI: 5493003Q8F0T4F4YMR48 | Long             | DBT              | CORP              | US        |    396000 | PA      | $396130.68    | 0.02%             | 2026-02-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Lowe's Cos Inc                                          | Lowe's Cos Inc                                                                                         | CUSIP: 548661107<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | EC               | CORP              | US        |     53861 | NS      | $12041703.77  | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| CABLE ONDA SA                                           | Telecomunicaciones Digitales SA                                                                        | CUSIP: 000000000<br>LEI: 5299008Q5GONPYNF9J32 | Long             | DBT              | CORP              | PA        |    560000 | PA      | $522200.00    | 0.02%             | 2030-01-30      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Romania Government International Bonds                  | Romania Government International Bonds                                                                 | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |    200000 | PA      | $129430.00    | 0.00%             | 2051-02-14      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| KINGSTON AIRPORT REV FIN                                | Kingston Airport Revenue Finance Ltd                                                                   | CUSIP: 49647QAA6<br>LEI: 254900SK2YRR95AVHU30 | Long             | DBT              | CORP              | KY        |    739000 | PA      | $743544.85    | 0.03%             | 2036-12-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ACRISURE LLC / FIN INC                                  | Acrisure LLC / Acrisure Finance Inc                                                                    | CUSIP: 00489LAK9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    895000 | PA      | $924499.20    | 0.04%             | 2029-02-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| DAVITA INC                                              | DaVita Inc                                                                                             | CUSIP: 23918KAY4<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |   1915000 | PA      | $1974250.10   | 0.08%             | 2033-07-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| GRAY MEDIA INC                                          | Gray Media Inc                                                                                         | CUSIP: 389375AP1<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |    758000 | PA      | $754103.88    | 0.03%             | 2033-08-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                                  | CCO Holdings LLC / CCO Holdings Capital Corp                                                           | CUSIP: 1248EPCD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4780000 | PA      | $4540569.80   | 0.18%             | 2030-03-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| NBK TIER 1 LTD                                          | NBK Tier 1 Ltd                                                                                         | CUSIP: 62879NAB3<br>LEI: 5493000G4QCCEE8YHF19 | Long             | DBT              | CORP              | AE        |    520000 | PA      | $527841.60    | 0.02%             | 2031-01-10      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| US Bancorp                                              | US Bancorp                                                                                             | CUSIP: 902973AZ9<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $996280.00    | 0.04%             | 2027-04-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| FIBERCOP SPA                                            | Fibercop SpA                                                                                           | CUSIP: 683879AH3<br>LEI: 8156007022402E114A31 | Long             | DBT              | CORP              | IT        |    674000 | PA      | $672038.66    | 0.03%             | 2038-06-04      | Fixed         | 7.72%                 | No            |                  2 | On Loan: No      |
| SMYRNA READY MIX CONCRET                                | Smyrna Ready Mix Concrete LLC                                                                          | CUSIP: 83283WAE3<br>LEI: 549300S7RFWHQFOIOY93 | Long             | DBT              | CORP              | US        |   4253000 | PA      | $4477728.52   | 0.17%             | 2031-11-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| TELECOM ITALIA CAPITAL                                  | Telecom Italia Capital SA                                                                              | CUSIP: 87927VAV0<br>LEI: 549300777DJZOR5C4L39 | Long             | DBT              | CORP              | LU        |    311000 | PA      | $335450.82    | 0.01%             | 2038-06-04      | Fixed         | 7.72%                 | No            |                  2 | On Loan: No      |
| BIDVEST GROUP UK PLC                                    | Bidvest Group UK PLC/The                                                                               | CUSIP: 88332EAA1<br>LEI: 984500A80C777F496830 | Long             | DBT              | CORP              | GB        |    515000 | PA      | $506147.15    | 0.02%             | 2026-09-23      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| CALPINE CORP                                            | Calpine Corp                                                                                           | CUSIP: 131347CR5<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |   4045000 | PA      | $3802987.65   | 0.15%             | 2031-03-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| US FOODS INC                                            | US Foods Inc                                                                                           | CUSIP: 90290MAD3<br>LEI: 5493000JOOFAOUY1JZ87 | Long             | DBT              | CORP              | US        |   2580000 | PA      | $2529303.00   | 0.10%             | 2029-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ANHEUSER-BUSCH CO/INBEV                                 | Anheuser-Busch Cos LLC / Anheuser-Busch InBev Worldwide Inc                                            | CUSIP: 03522AAH3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4549000 | PA      | $4414395.09   | 0.17%             | 2036-02-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                   | Wells Fargo & Co                                                                                       | CUSIP: 949746TD3<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    960000 | PA      | $950102.40    | 0.04%             | 2026-03-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Nasdaq-100 Premium Income ETF             | Goldman Sachs Nasdaq-100 Premium Income ETF                                                            | CUSIP: 38149W630<br>LEI: N/A                  | Long             | EC               | RF                | US        |   1820504 | NS      | $91880836.88  | 3.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Norfolk Southern Corp                                   | Norfolk Southern Corp                                                                                  | CUSIP: 655844108<br>LEI: 54930036C8MWP850MI84 | Long             | EC               | CORP              | US        |     24617 | NS      | $6843526.00   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp                                          | Microsoft Corp                                                                                         | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     22659 | NS      | $12088576.50  | 0.47%             |  |  |  | No            |                  1 | 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        |   2210000 | PA      | $2259305.10   | 0.09%             | 2029-03-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Schneider Electric SE                                   | Schneider Electric SE                                                                                  | CUSIP: 80687P106<br>LEI: 969500A1YF1XUYYXS284 | Long             | EC               | CORP              | FR        |    179599 | NS      | $9384047.75   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| CUMULUS MEDIA NEW HOLDINGS INC                          | Cumulus Media New Holdings Inc 2024 Term Loan B                                                        | CUSIP: 23110BAB0<br>LEI: 5493001D9VBAVY1OKJ46 | Long             | LON              | CORP              | US        |    572401 | PA      | $145962.31    | 0.01%             | 2029-05-02      | Floating      | 9.26%                 | No            |                  2 | On Loan: No      |
| ORGANON & CO/ORGANON FOR                                | Organon & Co / Organon Foreign Debt Co-Issuer BV                                                       | CUSIP: 68622TAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1950000 | PA      | $1686730.50   | 0.07%             | 2031-04-30      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| IHS HOLDING LTD                                         | IHS Holding Ltd                                                                                        | CUSIP: 000000000<br>LEI: 213800CLGMKL63VKTD94 | Long             | DBT              | CORP              | KY        |    270000 | PA      | $275040.90    | 0.01%             | 2031-11-29      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| CONSTELLIUM SE                                          | Constellium SE                                                                                         | CUSIP: 21039CAB0<br>LEI: 724500KRJEMC79KAAU28 | Long             | DBT              | CORP              | FR        |   2585000 | PA      | $2426565.35   | 0.09%             | 2029-04-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| GRINDING MEDIA INC                                      | Grinding Media Inc 2024 Term Loan B                                                                    | CUSIP: 39854KAC4<br>LEI: 254900IYFJ03EGFQ8C34 | Long             | LON              | CORP              | US        |   2575289 | PA      | $2568851.06   | 0.10%             | 2028-10-12      | Floating      | 7.83%                 | 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        |   1596000 | PA      | $1599990.00   | 0.06%             | 2027-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| NAVIENT CORP                                            | Navient Corp                                                                                           | CUSIP: 63938CAN8<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |   1645000 | PA      | $1799202.30   | 0.07%             | 2030-07-25      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| BANCO SANTANDER SA                                      | Banco Santander SA                                                                                     | CUSIP: 05971KAF6<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |   2000000 | PA      | $1895880.00   | 0.07%             | 2030-05-28      | Fixed         | 3.49%                 | No            |                  2 | On Loan: No      |
| CLEVELAND-CLIFFS INC                                    | Cleveland-Cliffs Inc                                                                                   | CUSIP: 185899AL5<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |   1555000 | PA      | $1373982.45   | 0.05%             | 2031-03-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| PRIME HEALTHCARE SERVICE                                | Prime Healthcare Services Inc                                                                          | CUSIP: 74165HAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1535000 | PA      | $1525022.50   | 0.06%             | 2029-09-01      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| CEMEX SAB DE CV                                         | Cemex SAB de CV                                                                                        | CUSIP: 151290CC5<br>LEI: 549300RIG2CXWN6IV731 | Long             | DBT              | CORP              | MX        |    200000 | PA      | $203900.00    | 0.01%             | 2030-06-10      | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| SM ENERGY CO                                            | SM Energy Co                                                                                           | CUSIP: 78454LAX8<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |    935000 | PA      | $935729.30    | 0.04%             | 2029-08-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| VT TOPCO INC                                            | VT Topco Inc                                                                                           | CUSIP: 91838PAA9<br>LEI: 5493007T812R37X02Y38 | Long             | DBT              | CORP              | US        |   5067000 | PA      | $5394733.56   | 0.21%             | 2030-08-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| NATWEST GROUP PLC                                       | NatWest Group PLC                                                                                      | CUSIP: 639057AQ1<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |   2000000 | PA      | $2188360.00   | 0.08%             | 2033-11-10      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| TARGA RESOURCES PARTNERS                                | Targa Resources Partners LP / Targa Resources Partners Finance Corp                                    | CUSIP: 87612BBS0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1835000 | PA      | $1815053.55   | 0.07%             | 2031-02-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| PERMIAN RESOURC OPTG LLC                                | Permian Resources Operating LLC                                                                        | CUSIP: 19416MAB5<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |   1038000 | PA      | $1038072.66   | 0.04%             | 2029-07-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| SITIO ROYAL OP / SIT FIN                                | Sitio Royalties Operating Partnership LP / Sitio Finance Corp                                          | CUSIP: 82983MAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3917000 | PA      | $4086880.29   | 0.16%             | 2028-11-01      | Fixed         | 7.88%                 | 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        |   4650000 | PA      | $4648047.00   | 0.18%             | 2031-05-06      | Floating      | 7.05%                 | No            |                  2 | On Loan: No      |
| UNICREDIT SPA                                           | UniCredit SpA                                                                                          | CUSIP: 904678AS8<br>LEI: 549300TRUWO2CD2G5692 | Long             | DBT              | CORP              | IT        |   1525000 | PA      | $1515026.50   | 0.06%             | 2035-06-30      | Fixed         | 5.46%                 | No            |                  2 | On Loan: No      |
| ALLY FINANCIAL INC                                      | Ally Financial Inc                                                                                     | CUSIP: 02005NBN9<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |   3275000 | PA      | $2987127.50   | 0.12%             | 2028-05-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| KODIAK GAS SERVICES LLC                                 | Kodiak Gas Services LLC                                                                                | CUSIP: 50012LAC8<br>LEI: 549300ZQBRWEUOVOM131 | Long             | DBT              | CORP              | US        |   3670000 | PA      | $3764172.20   | 0.15%             | 2029-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA                                | AerCap Ireland Capital DAC / AerCap Global Aviation Trust                                              | CUSIP: 00774MBK0<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |   1850000 | PA      | $1928070.00   | 0.07%             | 2055-03-10      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| TELECOMMUNICATIONS CO TE                                | Telecommunications co Telekom Srbija AD Belgrade                                                       | CUSIP: 87945BAA8<br>LEI: 254900OVY0XI1DFYC092 | Long             | DBT              | CORP              | RS        |    200000 | PA      | $199888.42    | 0.01%             | 2029-10-28      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ONEX TSG INTERMEDIATE CORP                              | ONEX TSG INTERMEDIATE CORP 2025 TERM LOAN B                                                            | CUSIP: 000000000<br>LEI: 5493006IJC5WXT1WJK88 | Long             | LON              | CORP              | US        |   1325000 | PA      | $1326099.75   | 0.05%             | 2032-08-06      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| DRAKE SOFTWARE LLC                                      | Drake Software LLC 2024 Term Loan B                                                                    | CUSIP: 23344UAF7<br>LEI: 25490030X7DBAF7KCR65 | Long             | LON              | CORP              | US        |   2183340 | PA      | $2179257.33   | 0.08%             | 2031-06-26      | Floating      | 8.55%                 | No            |                  2 | On Loan: No      |
| WILLIAMS SCOTSMAN INC                                   | Williams Scotsman Inc                                                                                  | CUSIP: 96949VAM5<br>LEI: 549300DAKDS8SCO1OT57 | Long             | DBT              | CORP              | US        |   1878000 | PA      | $1926170.70   | 0.07%             | 2029-06-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| BALL CORP                                               | Ball Corp                                                                                              | CUSIP: 058498AZ9<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | DBT              | CORP              | US        |   3735000 | PA      | $3801744.45   | 0.15%             | 2029-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CRESCENT ENERGY FINANCE                                 | Crescent Energy Finance LLC                                                                            | CUSIP: 45344LAE3<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |   5345000 | PA      | $5117409.90   | 0.20%             | 2033-01-15      | Fixed         | 7.38%                 | 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        |    105000 | PA      | $109226.25    | 0.00%             | 2032-02-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| ZIGGO BOND CO BV                                        | Ziggo Bond Co BV                                                                                       | CUSIP: 000000000<br>LEI: 213800JYI4P7V5QDOG59 | Long             | DBT              | CORP              | NL        |    675000 | PA      | $666764.62    | 0.03%             | 2030-02-28      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| ANGI GROUP LLC                                          | ANGI Group LLC                                                                                         | CUSIP: 001846AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2499000 | PA      | $2327543.61   | 0.09%             | 2028-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| AL GCX Holdings LLC                                     | AL GCX Holdings LLC Term Loan B                                                                        | CUSIP: 00162DAB1<br>LEI: 2549009G4C2J89LNWS21 | Long             | LON              | CORP              | US        |   5771890 | PA      | $5775987.84   | 0.22%             | 2029-05-17      | Floating      | 6.33%                 | No            |                  2 | On Loan: No      |
| HUNTINGTON BANCSHARES                                   | Huntington Bancshares Inc/OH                                                                           | CUSIP: 446150AV6<br>LEI: 549300XTVCVV9I7B5T19 | Long             | DBT              | CORP              | US        |    960000 | PA      | $943766.40    | 0.04%             | 2027-10-15      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| GLENCORE FUNDING LLC                                    | Glencore Funding LLC                                                                                   | CUSIP: 378272BE7<br>LEI: 213800STG1QDNBY87K49 | Long             | DBT              | CORP              | US        |   2855000 | PA      | $2568557.85   | 0.10%             | 2031-04-27      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| UNITED AIRLINES INC                                     | United Airlines Inc                                                                                    | CUSIP: 90932LAH0<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | DBT              | CORP              | US        |   1995000 | PA      | $1947120.00   | 0.08%             | 2029-04-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| BANK OF NY MELLON CORP                                  | Bank of New York Mellon Corp/The                                                                       | CUSIP: 064058AH3<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |   1920000 | PA      | $1916217.60   | 0.07%             | 2025-09-20      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INC                                        | Crown Castle Inc                                                                                       | CUSIP: 22822VAQ4<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              |  | US        |    290000 | PA      | $222055.90    | 0.01%             | 2050-07-01      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| AstraZeneca PLC                                         | AstraZeneca PLC                                                                                        | CUSIP: 046353108<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | EC               | CORP              | GB        |    131349 | NS      | $9600298.41   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| VERITIV OPERATING CO                                    | Veritiv Operating Co                                                                                   | CUSIP: 92339LAA0<br>LEI: 5493004G8OK5L1UTIY12 | Long             | DBT              | CORP              | US        |    100000 | PA      | $108417.00    | 0.00%             | 2030-11-30      | Fixed         | 10.50%                | 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        |   1621827 | PA      | $1623432.33   | 0.06%             | 2031-07-01      | Floating      | 6.86%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                | Long: SR233955  IRS USD R F  3.50000 2 CCPOIS / Short: SR233955  IRS USD P V 00MSOFR 1 CCPOIS          | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |  14150000 | OU      | $-1318233.81  | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| ENFRAGEN ENERGIA SUR SA                                 | EnfraGen Energia Sur SA / EnfraGen Spain SA / Prime Energia SpA                                        | CUSIP: 000000000<br>LEI: 2549002TO75PYMY3VY07 | Long             | DBT              | CORP              | ES        |    400000 | PA      | $363140.00    | 0.01%             | 2030-12-30      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Qwest Corp                                              | Qwest Corp                                                                                             | CUSIP: 74913G881<br>LEI: 549300R2L4N683OO1509 | Long             | EP               | CORP              | US        |     43276 | NS      | $856864.80    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                                  | General Motors Financial Co Inc                                                                        | CUSIP: 37045XDS2<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |   3935000 | PA      | $3470945.45   | 0.13%             | 2032-01-12      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| AXON ENTERPRISE INC                                     | Axon Enterprise Inc                                                                                    | CUSIP: 05464CAC5<br>LEI: 549300QP2IEEGFE16681 | Long             | DBT              | CORP              | US        |    755000 | PA      | $772508.45    | 0.03%             | 2030-03-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Sempra                                                  | Sempra                                                                                                 | CUSIP: 816851109<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | EC               | CORP              | US        |     89282 | NS      | $7292553.76   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF NY MELLON CORP                                  | Bank of New York Mellon Corp/The                                                                       | CUSIP: 064058AN0<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |   1720000 | PA      | $1765150.00   | 0.07%             | 2030-03-20      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| IHEARTCOMMUNICATIONS INC                                | iHeartCommunications Inc                                                                               | CUSIP: 45174HBK2<br>LEI: 54930076J6KDZL504O62 | Long             | DBT              | CORP              | US        |    420000 | PA      | $317175.60    | 0.01%             | 2031-01-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp                                         | CVS Health Corp                                                                                        | CUSIP: 126650100<br>LEI: 549300EJG376EN5NQE29 | Long             | EC               | CORP              | US        |    114530 | NS      | $7112313.00   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| ACU PETROLEO LUXEMBOURG                                 | Acu Petroleo Luxembourg Sarl                                                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    716198 | PA      | $721197.02    | 0.03%             | 2032-01-13      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| IPOTEKA-BANK ATIB                                       | Ipoteka-Bank ATIB                                                                                      | CUSIP: 000000000<br>LEI: 213800UWVX5JSNXJS434 | Long             | DBT              | CORP              | UZ        |    710000 | PA      | $706450.00    | 0.03%             | 2025-11-19      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SAMARCO MINERACAO SA                                    | Samarco Mineracao SA                                                                                   | CUSIP: 000000000<br>LEI: 529900U8HKV15GJC4O60 | Long             | DBT              | CORP              | BR        |    815822 | PA      | $806644.00    | 0.03%             | 2031-06-30      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| CNX MIDSTREAM PART LP                                   | CNX Midstream Partners LP                                                                              | CUSIP: 12654AAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2292000 | PA      | $2162593.68   | 0.08%             | 2030-04-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| BRF GMBH                                                | BRF GmbH                                                                                               | CUSIP: 000000000<br>LEI: 5299002S6DY5RA2IOQ11 | Long             | DBT              | CORP              | AT        |    317000 | PA      | $313868.04    | 0.01%             | 2026-09-29      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| Linde PLC                                               | Linde PLC                                                                                              | CUSIP: 000000000<br>LEI: 5299003QR1WT0EF88V51 | Long             | EC               | CORP              | IE        |     38039 | NS      | $17507830.14  | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| EXPAND ENERGY CORP                                      | Expand Energy Corp                                                                                     | CUSIP: 845467AT6<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | DBT              | CORP              | US        |   1385000 | PA      | $1345195.10   | 0.05%             | 2032-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| MADISON IAQ LLC                                         | Madison IAQ LLC                                                                                        | CUSIP: 55760LAB3<br>LEI: 549300IXDNBXNHUPBU73 | Long             | DBT              | CORP              | US        |   1594000 | PA      | $1554165.94   | 0.06%             | 2029-06-30      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ENCOMPASS HEALTH CORP                                   | Encompass Health Corp                                                                                  | CUSIP: 29261AAA8<br>LEI: 549300FVRPM9DRQZRG64 | Long             | DBT              | CORP              | US        |   1150000 | PA      | $1132669.50   | 0.04%             | 2028-02-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BANCO MERCANTIL DE NORTE                                | Banco Mercantil del Norte SA/Grand Cayman                                                              | CUSIP: 000000000<br>LEI: 549300QTVYRPFHS0J362 | Long             | DBT              | CORP              | MX        |    460000 | PA      | $450942.60    | 0.02%             | 2027-01-24      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                                | Warnermedia Holdings Inc                                                                               | CUSIP: 55903VBQ5<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |   2660000 | PA      | $2239666.80   | 0.09%             | 2032-03-15      | Fixed         | 4.28%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                                   | Venture Global Plaquemines LNG LLC                                                                     | CUSIP: 922966AD8<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |   1380000 | PA      | $1419454.20   | 0.05%             | 2036-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| SIRIUS XM RADIO LLC                                     | Sirius XM Radio LLC                                                                                    | CUSIP: 82967NBJ6<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |   4815000 | PA      | $4586480.10   | 0.18%             | 2028-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Marsh & McLennan Cos Inc                                | Marsh & McLennan Cos Inc                                                                               | CUSIP: 571748102<br>LEI: 549300XMP3KDCKJXIU47 | Long             | EC               | CORP              | US        |     41613 | NS      | $8289309.60   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Walmart Inc                                             | Walmart Inc                                                                                            | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |    205036 | NS      | $20089427.28  | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| NRG ENERGY INC                                          | NRG Energy Inc                                                                                         | CUSIP: 629377CY6<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |   4943000 | PA      | $4935882.08   | 0.19%             | 2029-07-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| MATCH GROUP HLD II LLC                                  | Match Group Holdings II LLC                                                                            | CUSIP: 57665RAJ5<br>LEI: 5493003RFFE030RC9167 | Long             | DBT              | CORP              | US        |   1155000 | PA      | $1150645.65   | 0.04%             | 2029-02-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| UKRAINE GOVERNMENT                                      | Ukraine Government International Bond                                                                  | CUSIP: 903724CF7<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |     18243 | PA      | $8619.82      | 0.00%             | 2035-02-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| COMMSCOPE LLC                                           | CommScope LLC                                                                                          | CUSIP: 20338QAA1<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |    549000 | PA      | $549290.97    | 0.02%             | 2027-03-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| PENNYMAC FIN SVCS INC                                   | PennyMac Financial Services Inc                                                                        | CUSIP: 70932MAG2<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |   1760000 | PA      | $1793721.60   | 0.07%             | 2032-05-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Coca-Cola Co/The                                        | Coca-Cola Co/The                                                                                       | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | EC               | CORP              | US        |    110996 | NS      | $7535518.44   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Nigeria Government International Bonds                  | Nigeria Government International Bonds                                                                 | CUSIP: 000000000<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |    320000 | PA      | $273200.00    | 0.01%             | 2051-09-28      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| ATOS SE                                                 | Atos SE                                                                                                | CUSIP: 000000000<br>LEI: 5493001EZOOA66PTBR68 | Long             | SN               | CORP              | FR        |   1795000 | PA      | $2269972.76   | 0.09%             | 2029-12-18      | Variable      | 9.00%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                          | Morgan Stanley                                                                                         | CUSIP: 61747YEL5<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   1870000 | PA      | $1670321.40   | 0.06%             | 2033-01-21      | Fixed         | 2.94%                 | No            |                  2 | On Loan: No      |
| OXFORD FIN LLC/CO-ISS II                                | Oxford Finance LLC / Oxford Finance Co-Issuer II Inc                                                   | CUSIP: 69145LAC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1310000 | PA      | $1309240.20   | 0.05%             | 2027-02-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| MPT OPER PARTNERSP/FINL                                 | MPT Operating Partnership LP / MPT Finance Corp                                                        | CUSIP: 55342UAH7<br>LEI: N/A                  | Long             | DBT              |  | US        |   2880000 | PA      | $2641996.80   | 0.10%             | 2027-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WAND NEWCO 3 INC                                        | Wand NewCo 3 Inc                                                                                       | CUSIP: 933940AA6<br>LEI: 549300Y3VZEWMSQW8494 | Long             | DBT              | CORP              | US        |   2824000 | PA      | $2967854.56   | 0.11%             | 2032-01-30      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| CIVITAS RESOURCES INC                                   | Civitas Resources Inc                                                                                  | CUSIP: 17888HAD5<br>LEI: IIVIHPH28S64K95M2381 | Long             | DBT              | CORP              | US        |    925000 | PA      | $951186.75    | 0.04%             | 2033-06-15      | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| SINCLAIR TELEVISION GROU                                | Sinclair Television Group Inc                                                                          | CUSIP: 829259AW0<br>LEI: 549300CQGEN0CH65UD62 | Long             | DBT              | CORP              | US        |   1160000 | PA      | $1119968.40   | 0.04%             | 2027-02-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| DEALER TIRE LLC/DT ISSR                                 | Dealer Tire LLC / DT Issuer LLC                                                                        | CUSIP: 24229JAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4322000 | PA      | $4235560.00   | 0.16%             | 2028-02-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| ISLAMIC REP OF PAKISTAN                                 | Pakistan Government International Bond                                                                 | CUSIP: 000000000<br>LEI: 529900LOP29R5WKHOD86 | Long             | DBT              | NUSS              | PK        |    540000 | PA      | $467100.00    | 0.02%             | 2051-04-08      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| Singapore Exchange Ltd                                  | Singapore Exchange Ltd                                                                                 | CUSIP: 82929W105<br>LEI: 549300IQ650PPXM76X03 | Long             | EC               | CORP              | SG        |    345747 | NS      | $8469072.77   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| ALBERTSONS COS/SAFEWAY                                  | Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC                                  | CUSIP: 013092AE1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    482000 | PA      | $470176.54    | 0.02%             | 2030-02-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| UNITED GROUP BV                                         | United Group BV                                                                                        | CUSIP: 000000000<br>LEI: 213800PC85O8BJ7DU398 | Long             | DBT              | CORP              | NL        |   1125000 | PA      | $1285454.21   | 0.05%             | 2031-02-15      | Floating      | 6.39%                 | No            |                  2 | On Loan: No      |
| GEN II FUND SERVICES LLC                                | GEN II Fund Services LLC 2024 Term Loan B                                                              | CUSIP: 69381MAB1<br>LEI: 2138006XMWHEBFQ55Z05 | Long             | LON              | CORP              | US        |   2294250 | PA      | $2297117.81   | 0.09%             | 2031-11-26      | Floating      | 6.97%                 | No            |                  2 | On Loan: No      |
| Exxon Mobil Corp                                        | Exxon Mobil Corp                                                                                       | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |    153807 | NS      | $17171013.48  | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Ecuador Government International Bonds                  | Ecuador Government International Bonds                                                                 | CUSIP: 000000000<br>LEI: 5299003Y2U5XK0A35H71 | Long             | DBT              | NUSS              | EC        |    128344 | PA      | $95487.94     | 0.00%             | 2035-07-31      | Fixed         | 6.90%                 | No            |                  2 | On Loan: No      |
| SES S A                                                 | SES S A                                                                                                | CUSIP: 000000000<br>LEI: 5493008JPA4HYMH1HX51 | Long             | EC               | CORP              | LU        |     35685 | NS      | $410377.50    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| CMS Energy Corp                                         | CMS Energy Corp                                                                                        | CUSIP: 125896100<br>LEI: 549300IA9XFBAGNIBW29 | Long             | EC               | CORP              | US        |    165871 | NS      | $12241279.80  | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| GLOBAL PART/GLP FINANCE                                 | Global Partners LP / GLP Finance Corp                                                                  | CUSIP: 37954FAJ3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3762000 | PA      | $3811696.02   | 0.15%             | 2029-01-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| RAIZEN FUELS FINANCE                                    | Raizen Fuels Finance SA                                                                                | CUSIP: 75102XAE6<br>LEI: 52990010NH26VC32Q522 | Long             | DBT              | CORP              | LU        |    320000 | PA      | $311296.00    | 0.01%             | 2037-02-25      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| CHOBANI HOLDCO II LLC                                   | Chobani Holdco II LLC                                                                                  | CUSIP: 169918AA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    438461 | PA      | $471297.34    | 0.02%             | 2029-10-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                                | PURCHASED USD / SOLD EUR                                                                               | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              |  | US        |         1 | NC      | $57575.44     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CQP HOLDCO LP                                           | CQP Holdco LP 2024 1st Lien Term Loan B                                                                | CUSIP: 12657QAE3<br>LEI: 549300LPL012JY5D4B69 | Long             | LON              | CORP              | US        |   2947759 | PA      | $2948879.27   | 0.11%             | 2030-12-31      | Floating      | 6.30%                 | No            |                  2 | On Loan: No      |
| Bleriot US Bidco Inc                                    | Bleriot US Bidco Inc 2023 Term Loan B                                                                  | CUSIP: 09353TAJ9<br>LEI: 254900ALCQ2A2VYD5Z08 | Long             | LON              | CORP              | US        |   1262274 | PA      | $1263460.45   | 0.05%             | 2030-10-31      | Floating      | 6.81%                 | 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        |   1930000 | PA      | $1949319.30   | 0.08%             | 2028-02-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| DSG TOPCO INC.                                          | DSG TOPCO INC.                                                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4535 | NS      | $60846.10     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| DISH DBS CORP                                           | DISH DBS Corp                                                                                          | CUSIP: 25470XBE4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1650000 | PA      | $1551940.50   | 0.06%             | 2026-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CLEVELAND-CLIFFS INC                                    | Cleveland-Cliffs Inc                                                                                   | CUSIP: 185899AQ4<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |   1230000 | PA      | $1230442.80   | 0.05%             | 2029-11-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                | Long: SR233945  IRS USD R F  3.75000 2 CCPOIS / Short: SR233945  IRS USD P V 00MSOFR 1 CCPOIS          | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |  25740000 | OU      | $145425.85    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| OPAL BIDCO SAS                                          | OPAL BIDCO                                                                                             | CUSIP: 68348BAA1<br>LEI: 969500R96XT7XY2UJ564 | Long             | DBT              | CORP              | FR        |   3650000 | PA      | $3690807.00   | 0.14%             | 2032-03-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| DANA INC                                                | Dana Inc                                                                                               | CUSIP: 235825AH9<br>LEI: KVWHW7YLZPFJM8QYNJ51 | Long             | DBT              | CORP              | US        |   1990000 | PA      | $1958299.30   | 0.08%             | 2030-09-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| MV24 CAPITAL BV                                         | MV24 Capital BV                                                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | NL        |    417422 | PA      | $413456.89    | 0.02%             | 2034-06-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| TRUIST FINANCIAL CORP                                   | Truist Financial Corp                                                                                  | CUSIP: 89832QAF6<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |   2147000 | PA      | $2116469.66   | 0.08%             | 2030-03-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| AEROPUERTO INTL TOCUMEN                                 | Aeropuerto Internacional de Tocumen SA                                                                 | CUSIP: 000000000<br>LEI: 254900FO1PHX49ZIGB14 | Long             | DBT              | CORP              | PA        |   1040000 | PA      | $745492.80    | 0.03%             | 2061-08-11      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| CASTLE US HOLDING CORP                                  | Castle US Holding Corp                                                                                 | CUSIP: 14852LAB9<br>LEI: 254900VXLMLPIE9ID612 | Long             | DBT              | CORP              | US        |   3735000 | PA      | $1401857.55   | 0.05%             | 2031-06-30      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| MIDCAP FINANCIAL ISSR TR                                | Midcap Financial Issuer Trust                                                                          | CUSIP: 59567LAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2367000 | PA      | $2346856.83   | 0.09%             | 2028-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ABSA GROUP LTD                                          | Absa Group Ltd                                                                                         | CUSIP: 000000000<br>LEI: 2138006IPPRD4N6XLT30 | Long             | DBT              | CORP              | ZA        |    200000 | PA      | $199000.00    | 0.01%             | 2026-05-27      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| HUB INTERNATIONAL LTD                                   | HUB International Ltd                                                                                  | CUSIP: 44332PAJ0<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |   1470000 | PA      | $1531005.00   | 0.06%             | 2032-01-31      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| SM ENERGY CO                                            | SM Energy Co                                                                                           | CUSIP: 78454LAY6<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |   1495000 | PA      | $1480050.00   | 0.06%             | 2032-08-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| AthenaHealth Group Inc                                  | Athenahealth Group Inc 2022 Term Loan B                                                                | CUSIP: 04686RAB9<br>LEI: 254900AA3KZN4Q7A5Z33 | Long             | LON              | CORP              | US        |   2340971 | PA      | $2337529.69   | 0.09%             | 2029-02-15      | Floating      | 7.11%                 | No            |                  2 | On Loan: No      |
| Engineered Machinery Holdings Inc                       | Engineered Machinery Holdings Inc 2021 EUR Incremental Term Loan                                       | CUSIP: 26658NAL3<br>LEI: 5493008AR0NPSLW8EW07 | Long             | LON              | CORP              | US        |    842188 | PA      | $962305.37    | 0.04%             | 2028-05-21      | Floating      | 5.73%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                           | Citigroup Inc                                                                                          | CUSIP: 17327CBC6<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2021160.00   | 0.08%             | 2030-08-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP INC                                  | Cloud Software Group Inc                                                                               | CUSIP: 18912UAA0<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |   2848000 | PA      | $2947338.24   | 0.11%             | 2029-09-30      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| El Salvador Government International Bonds              | El Salvador Government International Bonds                                                             | CUSIP: 000000000<br>LEI: 529900AKDMUSFSDOM949 | Long             | DBT              | NUSS              | SV        |    720000 | PA      | $588636.00    | 0.02%             | 2050-01-20      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| POST HOLDINGS INC                                       | Post Holdings Inc                                                                                      | CUSIP: 737446AQ7<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |   5739000 | PA      | $5482122.36   | 0.21%             | 2030-04-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Kaseya Inc                                              | Kaseya Inc 2025 1st Lien Term Loan B                                                                   | CUSIP: 48578AAB4<br>LEI: 254900MISXMLRZ63NH46 | Long             | LON              | CORP              | US        |   3441375 | PA      | $3448911.61   | 0.13%             | 2032-03-20      | Floating      | 7.61%                 | No            |                  2 | On Loan: No      |
| TRANSNET SOC LTD                                        | Transnet SOC Ltd                                                                                       | CUSIP: 89378TAD5<br>LEI: 378900B07CD6F01EA796 | Long             | DBT              | CORP              | ZA        |    400000 | PA      | $415932.00    | 0.02%             | 2028-02-06      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| BUCKEYE PARTNERS LP                                     | Buckeye Partners LP                                                                                    | CUSIP: 118230AU5<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |   1167000 | PA      | $1139610.51   | 0.04%             | 2028-03-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| SAN MIGUEL INDUSTRIAS                                   | SAN Miguel Industrias Pet SA / NG PET R&P Latin America SA                                             | CUSIP: 79911QAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | PE        |    290000 | PA      | $273870.20    | 0.01%             | 2028-08-02      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| MONG DUONG FIN HLDGS BV                                 | Mong Duong Finance Holdings BV                                                                         | CUSIP: 000000000<br>LEI: 549300995KGQFMWSV879 | Long             | DBT              | CORP              | NL        |    589512 | PA      | $576047.24    | 0.02%             | 2029-05-07      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| NRG Energy Inc                                          | NRG Energy Inc                                                                                         | CUSIP: 629377CE0<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    110000 | PA      | $110180.40    | 0.00%             | 2028-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                                   | Venture Global Plaquemines LNG LLC                                                                     | CUSIP: 922966AC0<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |   1380000 | PA      | $1419440.40   | 0.05%             | 2034-01-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ROCKET COS INC                                          | Rocket Cos Inc                                                                                         | CUSIP: 77311WAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1580000 | PA      | $1611979.20   | 0.06%             | 2033-08-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| PRUDENTIAL FINANCIAL INC                                | Prudential Financial Inc                                                                               | CUSIP: 744320BK7<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | DBT              | CORP              | US        |   2400000 | PA      | $2433336.00   | 0.09%             | 2052-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Brown Group Holding LLC                                 | Brown Group Holding LLC Term Loan B                                                                    | CUSIP: 11565HAB2<br>LEI: 25490094PF4HHK9QS109 | Long             | LON              | CORP              | US        |    957726 | PA      | $958386.98    | 0.04%             | 2031-07-01      | Floating      | 6.86%                 | No            |                  2 | On Loan: No      |
| ASBURY AUTOMOTIVE GROUP                                 | Asbury Automotive Group Inc                                                                            | CUSIP: 043436AW4<br>LEI: 549300JH4DTA7U42GL91 | Long             | DBT              | CORP              | US        |   1402000 | PA      | $1345611.56   | 0.05%             | 2029-11-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| UKG Inc                                                 | UKG Inc 2024 Term Loan B                                                                               | CUSIP: 89841EAB1<br>LEI: 529900FKHWSTQ1GXK240 | Long             | LON              | CORP              | US        |   1207649 | PA      | $1207165.66   | 0.05%             | 2031-02-10      | Floating      | 6.81%                 | No            |                  2 | On Loan: No      |
| ARAGVI FINANCE INTL                                     | Aragvi Finance International DAC                                                                       | CUSIP: 03851RAC8<br>LEI: 635400VKAYT1VT6VBF50 | Long             | DBT              | CORP              | IE        |    440000 | PA      | $441315.73    | 0.02%             | 2029-11-20      | Fixed         | 11.12%                | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                                  | Venture Global LNG Inc                                                                                 | CUSIP: 92332YAC5<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |   2380000 | PA      | $2595009.20   | 0.10%             | 2029-02-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| FIFTH THIRD BANCORP                                     | Fifth Third Bancorp                                                                                    | CUSIP: 316773DB3<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |    960000 | PA      | $957494.40    | 0.04%             | 2025-09-30      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Roche Holding AG                                        | Roche Holding AG                                                                                       | CUSIP: 771195104<br>LEI: 549300U41AUUVOAAOB37 | Long             | EC               | CORP              | CH        |    207996 | NS      | $8093124.36   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| JH NORTH AMERICA HOLDING                                | JH North America Holdings Inc                                                                          | CUSIP: 46593WAB1<br>LEI: 254900A6FXA0D81TL967 | Long             | DBT              | CORP              | US        |    890000 | PA      | $900074.80    | 0.03%             | 2032-07-31      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Audacy Capital Corp                                     | Audacy Capital Corp 2024 Term Loan B                                                                   | CUSIP: 05070XAB7<br>LEI: 549300S5JUSXRHNCHD80 | Long             | LON              | CORP              | US        |   1069140 | PA      | $859320.91    | 0.03%             | 2029-10-01      | Floating      | 10.47%                | No            |                  2 | On Loan: No      |
| SBA COMMUNICATIONS CORP                                 | SBA Communications Corp                                                                                | CUSIP: 78410GAD6<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | DBT              |  | US        |   2532000 | PA      | $2486905.08   | 0.10%             | 2027-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                | Long: BR233948  IRS USD R V 00MSOFR 1 CCPOIS / Short: BR233948  IRS USD P F  3.75000 2 CCPOIS          | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   9390000 | OU      | $-45772.49    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs Financial Square Government Fund          | Goldman Sachs Financial Square Government Fund                                                         | CUSIP: 38141W273<br>LEI: 549300BRJMXN4GUWZ402 | Long             | EC               | RF                | US        |  43105802 | NS      | $43105802.16  | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Egypt Government International Bonds                    | Egypt Government International Bonds                                                                   | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |    200000 | PA      | $167190.00    | 0.01%             | 2050-05-29      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| FOUNDATION BUILDING M                                   | Foundation Building Materials Inc                                                                      | CUSIP: 350392AA4<br>LEI: 549300ZVE6MONHB01I28 | Long             | DBT              | CORP              | US        |   2435000 | PA      | $2284663.10   | 0.09%             | 2029-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| LSF12 Crown US Commercial Bidco LLC                     | LSF12 CROWN US COMRCL BDCO LLC 2025 TERM LOAN B                                                        | CUSIP: 50221UAD3<br>LEI: 254900FI2OCFTJ9PAJ18 | Long             | LON              | CORP              | US        |   2100000 | PA      | $2111382.00   | 0.08%             | 2031-12-02      | Floating      | 7.86%                 | No            |                  2 | On Loan: No      |
| VIRTUSA CORP                                            | Virtusa Corp                                                                                           | CUSIP: 92837TAA0<br>LEI: C77OMXDER63WLJCSKT03 | Long             | DBT              | CORP              | US        |   2186000 | PA      | $2088416.96   | 0.08%             | 2028-12-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| ACRISURE LLC / FIN INC                                  | Acrisure LLC / Acrisure Finance Inc                                                                    | CUSIP: 00489LAF0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2140000 | PA      | $2042095.00   | 0.08%             | 2029-02-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                                | Ford Motor Credit Co LLC                                                                               | CUSIP: 345397B28<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    210000 | PA      | $208790.40    | 0.01%             | 2025-11-13      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Directv Financing LLC                                   | DirecTV Financing LLC Term Loan                                                                        | CUSIP: 25460HAB8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    288253 | PA      | $288740.08    | 0.01%             | 2027-08-02      | Floating      | 9.57%                 | No            |                  2 | On Loan: No      |
| VERTIV GROUP CORPORATION                                | Vertiv Group Corp                                                                                      | CUSIP: 92535UAB0<br>LEI: 549300ZT8RQ5VK10E643 | Long             | DBT              | CORP              | US        |   2836000 | PA      | $2757045.76   | 0.11%             | 2028-11-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| KB HOME                                                 | KB Home                                                                                                | CUSIP: 48666KBA6<br>LEI: 549300LGUCWQURMWLG09 | Long             | DBT              | CORP              | US        |   1730000 | PA      | $1780464.10   | 0.07%             | 2030-07-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| ROMANIA                                                 | Romanian Government International Bond                                                                 | CUSIP: 77586RAX8<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |    150000 | PA      | $150000.00    | 0.01%             | 2036-05-16      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Republic Services Inc                                   | Republic Services Inc                                                                                  | CUSIP: 760759100<br>LEI: NKNQHM6BLECKVOQP7O46 | Long             | EC               | CORP              | US        |     40264 | NS      | $9286891.60   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| CITIGROUP INC                                           | Citigroup Inc                                                                                          | CUSIP: 172967PC9<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   2880000 | PA      | $2993472.00   | 0.12%             | 2028-05-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| AT&T Inc                                                | AT&T Inc                                                                                               | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |    401070 | NS      | $10993328.70  | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                                  | US 5YR NOTE (CBT) SEP25                                                                                | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |     -1013 | NC      | $-356534.77   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Hungary Government International Bonds                  | Hungary Government International Bonds                                                                 | CUSIP: 000000000<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |    730000 | PA      | $438459.90    | 0.02%             | 2051-09-21      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| LIFEPOINT HEALTH INC                                    | LifePoint Health Inc                                                                                   | CUSIP: 53219LAU3<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | DBT              | CORP              | US        |   3465000 | PA      | $3253392.45   | 0.13%             | 2029-01-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                                    | OneMain Finance Corp                                                                                   | CUSIP: 682691AK6<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |   4525000 | PA      | $4665637.00   | 0.18%             | 2032-09-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Broadcom Inc                                            | Broadcom Inc                                                                                           | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |     23808 | NS      | $6992409.60   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Amgen Inc                                               | Amgen Inc                                                                                              | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               | CORP              | US        |     36570 | NS      | $10791807.00  | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Anticimex International AB                              | Anticimex International AB 2024 Term Loan B6                                                           | CUSIP: 03703HAB2<br>LEI: 54930005SBU6WYFBEB41 | Long             | LON              | CORP              | SE        |   2884484 | PA      | $2888695.41   | 0.11%             | 2028-11-16      | Floating      | 7.66%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp                                    | Bank of America Corp                                                                                   | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |    404952 | NS      | $19142081.04  | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| JH NORTH AMERICA HOLDING                                | JH North America Holdings Inc                                                                          | CUSIP: 46593WAA3<br>LEI: 254900A6FXA0D81TL967 | Long             | DBT              | CORP              | US        |    890000 | PA      | $893898.20    | 0.03%             | 2031-01-31      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                                    | OneMain Finance Corp                                                                                   | CUSIP: 682691AH3<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |   1740000 | PA      | $1776835.80   | 0.07%             | 2029-05-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| TEAM HEALTH HOLDINGS INC                                | Team Health Holdings Inc                                                                               | CUSIP: 87817AAE7<br>LEI: 549300PVTQ4UDTTMQT11 | Long             | DBT              | CORP              | US        |    654000 | PA      | $657184.98    | 0.03%             | 2028-06-30      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| STOXX Ltd.                                              | IOP015882 EQO. STOX EUR                                                                                | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               |  | DE        |     -3519 | NC      | $0.00         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| AEROPUERTOS DOMINICANOS                                 | Aeropuertos Dominicanos Siglo XXI SA                                                                   | CUSIP: 007866AE6<br>LEI: 254900KJA5MXNPYB4W32 | Long             | DBT              | CORP              | DO        |    690000 | PA      | $711631.50    | 0.03%             | 2034-06-30      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| PRAIRIE ACQUIROR LP                                     | Prairie Acquiror LP                                                                                    | CUSIP: 73943NAA4<br>LEI: 254900Q6KU2LVSIISH22 | Long             | DBT              | CORP              | US        |   3335000 | PA      | $3457294.45   | 0.13%             | 2029-08-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| TOTAL PLAY TELECOM                                      | Total Play Telecomunicaciones SA de CV                                                                 | CUSIP: 000000000<br>LEI: 4469000001BSAPAMOQ06 | Long             | DBT              | CORP              | MX        |    250000 | PA      | $240707.50    | 0.01%             | 2028-12-31      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| AECOM                                                   | AECOM                                                                                                  | CUSIP: 00766TAE0<br>LEI: 0EEB8GF0W0NPCIHZX097 | Long             | DBT              | CORP              | US        |   3369000 | PA      | $3396288.90   | 0.13%             | 2033-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MPLX LP                                                 | MPLX LP                                                                                                | CUSIP: 55336VBQ2<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |   5685000 | PA      | $5150155.20   | 0.20%             | 2030-08-15      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL CALCASIEU                                | Venture Global Calcasieu Pass LLC                                                                      | CUSIP: 92328MAB9<br>LEI: 549300GKHS6RS20NLH85 | Long             | DBT              | CORP              | US        |   3113000 | PA      | $2874699.85   | 0.11%             | 2031-08-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| PERMIAN RESOURC OPTG LLC                                | Permian Resources Operating LLC                                                                        | CUSIP: 71424VAA8<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |    980000 | PA      | $1012575.20   | 0.04%             | 2032-01-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Koninklijke Ahold Delhaize NV                           | Koninklijke Ahold Delhaize NV                                                                          | CUSIP: 500467501<br>LEI: 724500C9GNBV20UYRX36 | Long             | EC               | CORP              | NL        |    245234 | NS      | $9674481.30   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| CAB                                                     | CAB SELAS                                                                                              | CUSIP: 000000000<br>LEI: 9695008EGX5O9K1MS743 | Long             | DBT              | CORP              | FR        |   1075000 | PA      | $1175006.65   | 0.05%             | 2028-02-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| EQT CORP                                                | EQT Corp                                                                                               | CUSIP: 26884LBG3<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |   2210000 | PA      | $2248984.40   | 0.09%             | 2027-06-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA                                 | Hyundai Capital America                                                                                | CUSIP: 44891ACJ4<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |   3885000 | PA      | $4013671.20   | 0.15%             | 2030-06-26      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| ACCESS BANK PLC                                         | Access Bank PLC                                                                                        | CUSIP: 00434G2B5<br>LEI: 029200328C3N9YI2D660 | Long             | DBT              | CORP              | NG        |    900000 | PA      | $891801.00    | 0.03%             | 2026-09-21      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| TELECOM ITALIA CAPITAL                                  | Telecom Italia Capital SA                                                                              | CUSIP: 87927VAR9<br>LEI: 549300777DJZOR5C4L39 | Long             | DBT              | CORP              | LU        |    432000 | PA      | $454390.56    | 0.02%             | 2036-07-18      | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| VEDANTA RESOURCES                                       | Vedanta Resources Finance II PLC                                                                       | CUSIP: 92243XAK7<br>LEI: 8945002DGA3BBXO3N634 | Long             | DBT              | CORP              | GB        |    400000 | PA      | $416500.00    | 0.02%             | 2031-12-03      | Fixed         | 11.25%                | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                                   | Tenet Healthcare Corp                                                                                  | CUSIP: 88033GDQ0<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |   3154000 | PA      | $3183458.36   | 0.12%             | 2030-06-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| WESCO DISTRIBUTION INC                                  | WESCO Distribution Inc                                                                                 | CUSIP: 95081QAQ7<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |    960000 | PA      | $984403.20    | 0.04%             | 2029-03-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP/US FIN                                | Clarios Global LP / Clarios US Finance Co                                                              | CUSIP: 18060TAD7<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |   2525000 | PA      | $2599134.00   | 0.10%             | 2030-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| GRUPO NUTRESA SA                                        | Grupo Nutresa SA                                                                                       | CUSIP: 40055CAA1<br>LEI: 254900KKAX7B7RJUE255 | Long             | DBT              | CORP              | CO        |    300000 | PA      | $316200.00    | 0.01%             | 2030-05-12      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| OSAIC HOLDINGS INC                                      | Osaic Holdings Inc                                                                                     | CUSIP: 00791GAB3<br>LEI: 549300XL60BDV6UW5C86 | Long             | DBT              | CORP              | US        |     57000 | PA      | $57691.98     | 0.00%             | 2032-08-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Expand Energy Corp                                      | Expand Energy Corp                                                                                     | CUSIP: 165167180<br>LEI: X2MT1W32SPAZ9WSKLE78 | N/A              | DE               |  | US        |       287 | NS      | $25296.18     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CELANESE US HOLDINGS LLC                                | Celanese US Holdings LLC                                                                               | CUSIP: 15089QBA1<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |   2250000 | PA      | $2270182.50   | 0.09%             | 2033-04-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| DELPHI FINANCIAL GROUP                                  | Delphi Financial Group Inc                                                                             | CUSIP: 247131303<br>LEI: 5493001NGT0EEYMZG011 | Long             | EP               | CORP              | US        |    143849 | NS      | $3506319.38   | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                             | BNP Paribas SA                                                                                         | CUSIP: 05565A5R0<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   2800000 | PA      | $2985416.00   | 0.12%             | 2028-08-14      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| AKBANK TAS                                              | Akbank TAS                                                                                             | CUSIP: 000000000<br>LEI: 789000TUMN63Z28TJ497 | Long             | DBT              | CORP              | TR        |    490000 | PA      | $508375.00    | 0.02%             | 2029-03-14      | Fixed         | 9.37%                 | No            |                  2 | On Loan: No      |
| KOHLER ENERGY CO LLC                                    | Kohler Energy Co LLC USD Term Loan B                                                                   | CUSIP: 25472PAB6<br>LEI: 254900T31FAYMRQSAA12 | Long             | LON              | CORP              | US        |   4292792 | PA      | $4310220.49   | 0.17%             | 2031-05-01      | Floating      | 8.05%                 | No            |                  2 | On Loan: No      |
| ROBLOX CORP                                             | ROBLOX Corp                                                                                            | CUSIP: 771049AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1895000 | PA      | $1781697.95   | 0.07%             | 2030-05-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| GENESIS ENERGY LP/FIN                                   | Genesis Energy LP / Genesis Energy Finance Corp                                                        | CUSIP: 37185LAQ5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2700000 | PA      | $2794149.00   | 0.11%             | 2032-05-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| GLOBAL INFRASTRUCTURE SO                                | Global Infrastructure Solutions Inc                                                                    | CUSIP: 37960XAA5<br>LEI: 2549003BGLQITAJ6ZT28 | Long             | DBT              | CORP              | US        |   4255000 | PA      | $4231682.60   | 0.16%             | 2029-06-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Noble Corp PLC                                          | Noble Corp PLC                                                                                         | CUSIP: 000000000<br>LEI: 549300I3HBUNXO0OG954 | Long             | EC               | CORP              | GB        |     63962 | NS      | $1714821.22   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| ANADOLU EFES BIR                                        | Anadolu Efes Biracilik Ve Malt Sanayii AS                                                              | CUSIP: 032523AB8<br>LEI: 7890006LGARYVIPOJX03 | Long             | DBT              | CORP              | TR        |    220000 | PA      | $199100.00    | 0.01%             | 2028-06-29      | Fixed         | 3.38%                 | 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        |   1647000 | PA      | $1646374.14   | 0.06%             | 2029-04-20      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| INVERSION ESCROW ISSUER                                 | Inversion Escrow Issuer LLC                                                                            | CUSIP: 46150DAA0<br>LEI: 254900P6GHORGRVLKI95 | Long             | DBT              | CORP              | US        |   2391000 | PA      | $2361829.80   | 0.09%             | 2032-08-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| NAVOI MINING METALLURGIC                                | Navoi Mining & Metallurgical Combinat                                                                  | CUSIP: 63890CAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | UZ        |    200000 | PA      | $206626.00    | 0.01%             | 2031-10-17      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| LIMAK ISKENDERUN                                        | Limak Iskenderun Uluslararasi Liman Isletmeciligi AS                                                   | CUSIP: 000000000<br>LEI: 5299001DUZ9PI7TCRC47 | Long             | DBT              | CORP              | TR        |    194463 | PA      | $194522.80    | 0.01%             | 2036-07-10      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Garrett LX I SARL                                       | Garrett LX I SARL 2025 Term Loan B                                                                     | CUSIP: 36649XAG3<br>LEI: 549300LKYJ4RR1ELO069 | Long             | LON              | CORP              | LU        |   2702228 | PA      | $2707307.69   | 0.10%             | 2032-01-30      | Floating      | 6.56%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                   | Wells Fargo & Co                                                                                       | CUSIP: 95002YAA1<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    960000 | PA      | $1024828.80   | 0.04%             | 2028-09-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| MONGOLIAN MINING CORP                                   | Mongolian Mining Corp                                                                                  | CUSIP: 000000000<br>LEI: 254900XQ2EY5O3SAYL47 | Long             | DBT              | CORP              | KY        |    330000 | PA      | $317295.00    | 0.01%             | 2030-04-03      | Fixed         | 8.44%                 | 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        |   1905000 | PA      | $1929041.10   | 0.07%             | 2029-11-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO                                | Clear Channel Outdoor Holdings Inc                                                                     | CUSIP: 18453HAF3<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |   3080000 | PA      | $3169535.60   | 0.12%             | 2030-04-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| CLARIV SCI HLD CORP                                     | Clarivate Science Holdings Corp                                                                        | CUSIP: 18064PAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2306000 | PA      | $2162866.58   | 0.08%             | 2029-07-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| OFFICE CHERIFIEN DES PHO                                | OCP SA                                                                                                 | CUSIP: 000000000<br>LEI: 213800D26TAPVTCVWG40 | Long             | DBT              | CORP              | MA        |    960000 | PA      | $735667.20    | 0.03%             | 2051-06-23      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| SIRIUS XM RADIO LLC                                     | Sirius XM Radio LLC                                                                                    | CUSIP: 82967NBL1<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |    785000 | PA      | $767580.85    | 0.03%             | 2026-09-01      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| UNITED GROUP BV                                         | United Group BV                                                                                        | CUSIP: 000000000<br>LEI: 213800PC85O8BJ7DU398 | Long             | DBT              | CORP              | NL        |   1125000 | PA      | $1281012.10   | 0.05%             | 2028-08-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Abbott Laboratories                                     | Abbott Laboratories                                                                                    | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |    103348 | NS      | $13041484.12  | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| JANE STREET GRP/JSG FIN                                 | Jane Street Group / JSG Finance Inc                                                                    | CUSIP: 47077WAD0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2535000 | PA      | $2516545.20   | 0.10%             | 2032-11-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| AMC ENTERTAINMENT HLDGS                                 | AMC Entertainment Holdings Inc                                                                         | CUSIP: 00165CBA1<br>LEI: 549300ZO77UNR6NRBR11 | Long             | DBT              | CORP              | US        |    818000 | PA      | $695929.86    | 0.03%             | 2029-02-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Engineered Machinery Holdings Inc                       | Engineered Machinery Holdings Inc 2021 USD Incremental Term Loan                                       | CUSIP: 26658NAP4<br>LEI: 5493008AR0NPSLW8EW07 | Long             | LON              | CORP              | US        |   1805635 | PA      | $1814012.83   | 0.07%             | 2028-05-19      | Floating      | 8.06%                 | No            |                  2 | On Loan: No      |
| BUILDERS FIRSTSOURCE INC                                | Builders FirstSource Inc                                                                               | CUSIP: 12008RAN7<br>LEI: 549300W0SKP6L3H7DP63 | Long             | DBT              | CORP              | US        |   1725000 | PA      | $1690103.25   | 0.07%             | 2030-03-01      | Fixed         | 5.00%                 | 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        |   2935000 | PA      | $3028450.40   | 0.12%             | 2029-02-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| DELTA AIR LINES INC                                     | Delta Air Lines Inc                                                                                    | CUSIP: 247361ZZ4<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | DBT              | CORP              | US        |   3455000 | PA      | $3484954.85   | 0.13%             | 2026-01-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| RAND PARENT LLC                                         | Rand Parent LLC                                                                                        | CUSIP: 753272AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2790000 | PA      | $2805484.50   | 0.11%             | 2030-02-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| DELL INT LLC / EMC CORP                                 | Dell International LLC / EMC Corp                                                                      | CUSIP: 24703TAJ5<br>LEI: 254900ZARLSVK41DKO78 | Long             | DBT              | CORP              | US        |   2589000 | PA      | $3113065.38   | 0.12%             | 2036-07-15      | Fixed         | 8.10%                 | No            |                  2 | On Loan: No      |
| US BANCORP                                              | US Bancorp                                                                                             | CUSIP: 902973BC9<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |    960000 | PA      | $924835.20    | 0.04%             | 2027-01-15      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Kenvue Inc                                              | Kenvue Inc                                                                                             | CUSIP: 49177J102<br>LEI: 5493008HSF8L4M2LIJ82 | Long             | EC               | CORP              | US        |    413930 | NS      | $8874659.20   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| PENN ENTERTAINMENT INC                                  | Penn Entertainment Inc                                                                                 | CUSIP: 707569AV1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2942000 | PA      | $2726998.64   | 0.11%             | 2029-07-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| SAZERAC COMPANY INC                                     | SAZERAC COMPANY INC TERM LOAN B                                                                        | CUSIP: 80583EAN6<br>LEI: 9QU0CG1O4LSOB6IFK895 | Long             | LON              | CORP              | US        |   2100000 | PA      | $2106573.00   | 0.08%             | 2032-07-09      | Floating      | 6.83%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                             | CITIBANK NA DDCA                                                                                       | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | Long             | STIV             | RF                | US        |  10045001 | NS      | $10045001.11  | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| ARCOSA INC                                              | Arcosa Inc                                                                                             | CUSIP: 039653AA8<br>LEI: 549300WFHLTCZV7D6V29 | Long             | DBT              | CORP              | US        |   1171000 | PA      | $1129031.36   | 0.04%             | 2029-04-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| FMC CORP                                                | FMC Corp                                                                                               | CUSIP: 302491AZ8<br>LEI: CKDHZ2X64EEBQCSP7013 | Long             | DBT              | CORP              | US        |   1365000 | PA      | $1411041.45   | 0.05%             | 2055-11-01      | Fixed         | 8.45%                 | No            |                  2 | On Loan: No      |
| NOBLE FINANCE II LLC                                    | Noble Finance II LLC                                                                                   | CUSIP: 65505PAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3665000 | PA      | $3728587.75   | 0.14%             | 2030-04-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| YAPI VE KREDI BANKASI AS                                | Yapi ve Kredi Bankasi AS                                                                               | CUSIP: 984848AR2<br>LEI: B85ZYWEZ5IZCZ2WNIO12 | Long             | DBT              | CORP              | TR        |    450000 | PA      | $472243.50    | 0.02%             | 2034-01-17      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| ARDONAGH GROUP FINANCE                                  | Ardonagh Group Finance Ltd                                                                             | CUSIP: 039956AA5<br>LEI: 254900SRT1BTAJ76NW62 | Long             | DBT              | CORP              | JE        |   6551000 | PA      | $6892503.63   | 0.27%             | 2032-02-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| API GROUP DE INC                                        | APi Group DE Inc                                                                                       | CUSIP: 001877AA7<br>LEI: 549300XP4G7B4QYA0G83 | Long             | DBT              | CORP              | US        |   3865000 | PA      | $3686668.90   | 0.14%             | 2029-07-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| HUNTSMAN INTERNATIONAL L                                | Huntsman International LLC                                                                             | CUSIP: 44701QBE1<br>LEI: 3YTEJFW18LGIUQ2N5J61 | Long             | DBT              | CORP              | US        |   2019000 | PA      | $1919523.87   | 0.07%             | 2029-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| DCP MIDSTREAM OPERATING                                 | DCP Midstream Operating LP                                                                             | CUSIP: 23311RAA4<br>LEI: 549300Y6CTBSE0QIPL28 | Long             | DBT              | CORP              | US        |   3840000 | PA      | $4042291.20   | 0.16%             | 2037-09-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| GARDA WORLD SECURITY                                    | Garda World Security Corp                                                                              | CUSIP: 36485MAP4<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | DBT              | CORP              | CA        |    715000 | PA      | $736657.35    | 0.03%             | 2032-11-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| AT&T INC                                                | AT&T Inc                                                                                               | CUSIP: 00206RKH4<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |   3335000 | PA      | $2863330.95   | 0.11%             | 2032-02-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC                                  | Pacific Gas and Electric Co                                                                            | CUSIP: 694308JJ7<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |   1410000 | PA      | $922957.80    | 0.04%             | 2050-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| CHEMOURS CO                                             | Chemours Co/The                                                                                        | CUSIP: 163851AH1<br>LEI: 549300M1BOLNXL8DOV14 | Long             | DBT              | CORP              | US        |   4375000 | PA      | $3707418.75   | 0.14%             | 2029-11-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                                 | Royal Caribbean Cruises Ltd                                                                            | CUSIP: 780153BW1<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |   2425000 | PA      | $2442896.50   | 0.09%             | 2031-09-30      | Fixed         | 5.62%                 | 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        |   3140000 | PA      | $3235707.20   | 0.12%             | 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        |    534647 | PA      | $535817.55    | 0.02%             | 2031-10-31      | Floating      | 6.36%                 | No            |                  2 | On Loan: No      |
| Eurex Deutschland                                       | EURO-BUND FUTURE SEP25                                                                                 | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              |  | DE        |       -26 | NC      | $48024.89     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| AUDACY CAPITAL CORP                                     | Audacy Capital Corp 2024 Term Loan A                                                                   | CUSIP: 05070XAC5<br>LEI: 549300S5JUSXRHNCHD80 | Long             | LON              | CORP              | US        |    119349 | PA      | $118155.52    | 0.00%             | 2028-10-02      | Floating      | 11.47%                | No            |                  2 | On Loan: No      |
| Goldman Sachs MLP Energy Infrastructure Fund            | Goldman Sachs MLP Energy Infrastructure Fund                                                           | CUSIP: 38150C887<br>LEI: 549300QNI1STTSJRLK10 | Long             | EC               | RF                | US        |    996629 | NS      | $39217346.62  | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| GFL ENVIRONMENTAL INC                                   | GFL Environmental Inc                                                                                  | CUSIP: 36168QAL8<br>LEI: 549300FYK4MBXWIVZU26 | Long             | DBT              | CORP              | CA        |   6695000 | PA      | $6485848.20   | 0.25%             | 2028-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LATAM AIRLINES GROUP SA                                 | Latam Airlines Group SA                                                                                | CUSIP: 51817RAD8<br>LEI: 549300HX3UUDPEFTG707 | Long             | DBT              | CORP              | CL        |    750000 | PA      | $774150.00    | 0.03%             | 2030-04-15      | Fixed         | 7.88%                 | 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        |   1680000 | PA      | $1705250.40   | 0.07%             | 2032-09-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Freeport-McMoRan Inc                                    | Freeport-McMoRan Inc                                                                                   | CUSIP: 35671D857<br>LEI: 549300IRDTHJQ1PVET45 | Long             | EC               | CORP              | US        |    232796 | NS      | $9367711.04   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| ELASTIC NV                                              | Elastic NV                                                                                             | CUSIP: 28415LAA1<br>LEI: 2549003I48WHHH937I59 | Long             | DBT              | CORP              | NL        |   1760000 | PA      | $1673566.40   | 0.06%             | 2029-07-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                                 | Royal Caribbean Cruises Ltd                                                                            | CUSIP: 780153BU5<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |   4121000 | PA      | $4226662.44   | 0.16%             | 2032-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AG                                        | Deutsche Bank AG                                                                                       | CUSIP: 251525AX9<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    800000 | PA      | $798744.00    | 0.03%             | 2025-10-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ZIGGO BV                                                | Ziggo BV                                                                                               | CUSIP: 98955DAA8<br>LEI: 213800TQASLF9JXH5J59 | Long             | DBT              | CORP              | NL        |   1628000 | PA      | $1502481.20   | 0.06%             | 2030-01-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| BROOKFIELD RESID PROPERT                                | Brookfield Residential Properties Inc / Brookfield Residential US LLC                                  | CUSIP: 11283YAD2<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   1577000 | PA      | $1435937.35   | 0.06%             | 2030-02-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| AvalonBay Communities Inc                               | AvalonBay Communities Inc                                                                              | CUSIP: 053484101<br>LEI: K9G90K85RBWD2LAGQX17 | Long             | EC               |  | US        |     35083 | NS      | $6535261.24   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| AUTONATION INC                                          | AutoNation Inc                                                                                         | CUSIP: 05329WAQ5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    921000 | PA      | $913005.72    | 0.04%             | 2030-06-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                     | JPMorgan Chase & Co                                                                                    | CUSIP: 46647PBP0<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   2556000 | PA      | $2365731.36   | 0.09%             | 2031-05-13      | Fixed         | 2.96%                 | No            |                  2 | On Loan: No      |
| BEACH ACQUISITION BIDCO                                 | Beach Acquisition Bidco LLC                                                                            | CUSIP: 07337JAC1<br>LEI: 254900F2FNX3GBTB6202 | Long             | DBT              | CORP              | US        |   1860000 | PA      | $1939477.80   | 0.07%             | 2033-07-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| CINEWORLD RIGHTS                                        | CINEWORLD RIGHTS                                                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             |  | US        |     27900 | NS      | $621639.90    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                  | US 10YR NOTE (CBT)SEP25                                                                                | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        10 | NC      | $11389.73     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| ADAPTHEALTH LLC                                         | AdaptHealth LLC                                                                                        | CUSIP: 00653VAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1385000 | PA      | $1379363.05   | 0.05%             | 2028-08-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| CENTRAL GARDEN & PET CO                                 | Central Garden & Pet Co                                                                                | CUSIP: 153527AN6<br>LEI: 5493004DVZLD37DJ0H83 | Long             | DBT              | CORP              | US        |   1325000 | PA      | $1245354.25   | 0.05%             | 2030-10-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| BANCO DAVIVIENDA SA                                     | Banco Davivienda SA                                                                                    | CUSIP: 059501AD8<br>LEI: 549300P161V4IPKAQS70 | Long             | DBT              | CORP              | CO        |    200000 | PA      | $177625.00    | 0.01%             | 2031-04-22      | Fixed         | 6.65%                 | No            |                  2 | On Loan: No      |
| SNF GROUP SACA                                          | SNF Group SACA                                                                                         | CUSIP: 7846ELAD9<br>LEI: 969500F7036FEDYPRV54 | Long             | DBT              | CORP              | FR        |    740000 | PA      | $713952.00    | 0.03%             | 2027-03-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| BANCO CONTINENTAL S.A.E.                                | Banco Continental SAECA                                                                                | CUSIP: 000000000<br>LEI: 8945005Q0D60A6FCEM55 | Long             | DBT              | CORP              | PY        |    600000 | PA      | $593760.00    | 0.02%             | 2025-12-10      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| MEDLINE BORROWER LP                                     | Medline Borrower LP                                                                                    | CUSIP: 62482BAB8<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |   4389000 | PA      | $4306574.58   | 0.17%             | 2029-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TEVA PHARM FIN IV                                       | Teva Pharmaceutical Finance Netherlands IV BV                                                          | CUSIP: 881937AA4<br>LEI: 549300GKSD1RG56QRY33 | Long             | DBT              | CORP              | NL        |   1200000 | PA      | $1217676.00   | 0.05%             | 2030-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| BANCOLOMBIA SA                                          | Bancolombia SA                                                                                         | CUSIP: 05968LAN2<br>LEI: 54930052NWJRPNMP1W58 | Long             | DBT              | CORP              | CO        |    260000 | PA      | $275990.00    | 0.01%             | 2034-12-24      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| International Paper Co                                  | International Paper Co                                                                                 | CUSIP: 460146103<br>LEI: 824LMFJDH41EY779Q875 | Long             | EC               | CORP              | US        |    162242 | NS      | $7583191.08   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| EFESTO BIDCO SPA/US LLC                                 | EFESTO BIDCO SPA/US LLC                                                                                | CUSIP: 28201XAB1<br>LEI: N/A                  | Long             | DBT              | CORP              | IT        |   2523000 | PA      | $2582769.87   | 0.10%             | 2032-02-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                   | Wells Fargo & Co                                                                                       | CUSIP: 95002YAC7<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   2185000 | PA      | $2258612.65   | 0.09%             | 2029-09-15      | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| Nestle SA                                               | Nestle SA                                                                                              | CUSIP: 641069406<br>LEI: KY37LUS27QQX7BB93L28 | Long             | EC               | CORP              | CH        |     82525 | NS      | $7178024.50   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| General Electric Co                                     | General Electric Co                                                                                    | CUSIP: 369604301<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | EC               | CORP              | US        |     75839 | NS      | $20558436.12  | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| CHARLES SCHWAB CORP                                     | Charles Schwab Corp/The                                                                                | CUSIP: 808513BK0<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |   2760000 | PA      | $2717992.80   | 0.10%             | 2026-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| STANDARD BUILDING SOLUTI                                | Standard Building Solutions Inc                                                                        | CUSIP: 853191AA2<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |   2615000 | PA      | $2670568.75   | 0.10%             | 2032-08-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| TURKIYE GARANTI BANKASI                                 | Turkiye Garanti Bankasi AS                                                                             | CUSIP: 900148AF4<br>LEI: 5493002XSS7K7RHN1V37 | Long             | DBT              | CORP              | TR        |    200000 | PA      | $205214.00    | 0.01%             | 2034-02-28      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| FIRST QUANTUM MINERALS L                                | First Quantum Minerals Ltd                                                                             | CUSIP: 335934AT2<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |    260000 | PA      | $259675.00    | 0.01%             | 2027-10-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| AHEAD DB HOLDINGS LLC                                   | Ahead DB Holdings LLC                                                                                  | CUSIP: 00867FAA6<br>LEI: 254900L07WFL833JX193 | Long             | DBT              | CORP              | US        |   3200000 | PA      | $3206272.00   | 0.12%             | 2028-05-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| KBR INC                                                 | KBR Inc                                                                                                | CUSIP: 48242WAC0<br>LEI: 254900OFQDXZRKRCV808 | Long             | DBT              | CORP              | US        |   1116000 | PA      | $1075623.12   | 0.04%             | 2028-09-30      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| FIRST QUANTUM MINERALS L                                | First Quantum Minerals Ltd                                                                             | CUSIP: 335934AW5<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |    235000 | PA      | $242050.00    | 0.01%             | 2033-03-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| CoBank ACB                                              | CoBank ACB                                                                                             | CUSIP: 19075QAC6<br>LEI: P0J8I7M2E0A77CKF1705 | Long             | DBT              | USGA              | US        |   5135000 | PA      | $5153824.91   | 0.20%             | 2026-10-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| HERTZ CORP/THE                                          | Hertz Corp/The                                                                                         | CUSIP: 428040DC0<br>LEI: 549300PD0C69OJ0NLB27 | Long             | DBT              | CORP              | US        |   1325000 | PA      | $1384996.00   | 0.05%             | 2029-07-15      | Fixed         | 12.62%                | No            |                  2 | On Loan: No      |
| Illinois Tool Works Inc                                 | Illinois Tool Works Inc                                                                                | CUSIP: 452308109<br>LEI: 76NA4I14SZCFAYMNSV04 | Long             | EC               | CORP              | US        |     24108 | NS      | $6170924.76   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| FIBERCOP SPA                                            | Fibercop SpA                                                                                           | CUSIP: 683879AF7<br>LEI: 8156007022402E114A31 | Long             | DBT              | CORP              | IT        |   1348000 | PA      | $1332888.92   | 0.05%             | 2036-07-18      | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| HARBOR FREIGHT TOOLS USA INC                            | Harbor Freight Tools USA Inc 2024 Term Loan B                                                          | CUSIP: 41151PAR6<br>LEI: 549300Y48HLCFTTB4249 | Long             | LON              | CORP              | US        |   1371859 | PA      | $1341129.65   | 0.05%             | 2031-06-11      | Floating      | 6.61%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                                | PURCHASED USD / SOLD EUR                                                                               | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              |  | US        |         1 | NC      | $614369.34    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| VISTAJET MALTA/VM HOLDS                                 | VistaJet Malta Finance PLC / Vista Management Holding Inc                                              | CUSIP: 92840JAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |   2294000 | PA      | $2301845.48   | 0.09%             | 2027-05-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| SEMPRA                                                  | Sempra                                                                                                 | CUSIP: 816851BK4<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |   3200000 | PA      | $3184544.00   | 0.12%             | 2025-10-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| PITNEY BOWES INC                                        | Pitney Bowes Inc 2025 Term Loan B                                                                      | CUSIP: 72448FAW5<br>LEI: 549300N2O26NW4ST6W55 | Long             | LON              | CORP              | US        |   3341625 | PA      | $3341625.00   | 0.13%             | 2032-03-19      | Floating      | 8.11%                 | No            |                  2 | On Loan: No      |
| BPCE SA                                                 | BPCE SA                                                                                                | CUSIP: 05578QAF0<br>LEI: 9695005MSX1OYEMGDF46 | Long             | DBT              | CORP              | FR        |   2100000 | PA      | $1830255.00   | 0.07%             | 2032-10-19      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| STANDARD INDUSTRI INC/NY                                | Standard Industries Inc/NY                                                                             | CUSIP: 853496AH0<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |   3889000 | PA      | $3475288.18   | 0.13%             | 2031-01-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| TRANSOCEAN TITAN FIN LTD                                | Transocean Titan Financing Ltd                                                                         | CUSIP: 89386MAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    705714 | PA      | $723590.04    | 0.03%             | 2028-02-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| BEACH ACQUISITION BIDCO                                 | Beach Acquisition Bidco LLC                                                                            | CUSIP: 000000000<br>LEI: 254900F2FNX3GBTB6202 | Long             | DBT              | CORP              | US        |    676000 | PA      | $784310.93    | 0.03%             | 2032-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CACI INTERNATIONAL INC                                  | CACI International Inc                                                                                 | CUSIP: 127190AE6<br>LEI: SYRPI2D1O9WRTS2WX210 | Long             | DBT              | CORP              | US        |    955000 | PA      | $977557.10    | 0.04%             | 2033-06-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| SEPLAT ENERGY PLC                                       | SEPLAT Energy PLC                                                                                      | CUSIP: 81733MAA3<br>LEI: 029200711C4S4CB2E982 | Long             | DBT              | CORP              | NG        |   1110000 | PA      | $1140525.00   | 0.04%             | 2030-03-21      | Fixed         | 9.12%                 | No            |                  2 | On Loan: No      |
| ENDEAVOUR MINING PLC                                    | Endeavour Mining PLC                                                                                   | CUSIP: 29261HAB1<br>LEI: 529900NI5MXQ91GHXR07 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $203376.00    | 0.01%             | 2030-05-28      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Ameren Corp                                             | Ameren Corp                                                                                            | CUSIP: 023608102<br>LEI: XRZQ5S7HYJFPHJ78L959 | Long             | EC               | CORP              | US        |    130953 | NS      | $13243276.89  | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| CARNIVAL CORP                                           | Carnival Corp                                                                                          | CUSIP: 143658BX9<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |   1795000 | PA      | $1825766.30   | 0.07%             | 2033-02-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| CLEVELAND-CLIFFS INC                                    | Cleveland-Cliffs Inc                                                                                   | CUSIP: 185899AS0<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |    810000 | PA      | $809627.40    | 0.03%             | 2031-09-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Oracle Corp                                             | Oracle Corp                                                                                            | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |     71210 | NS      | $18070961.70  | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                                | PURCHASED USD / SOLD EUR                                                                               | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              |  | US        |         1 | NC      | $95027.75     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                | Long: SR233944  IRS USD R F  3.75000 2 CCPOIS / Short: SR233944  IRS USD P V 00MSOFR 1 CCPOIS          | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | GB        |   1310000 | OU      | $2790.04      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GARDA WORLD SECURITY                                    | Garda World Security Corp                                                                              | CUSIP: 36485MAN9<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | DBT              | CORP              | CA        |   1000000 | PA      | $1031120.00   | 0.04%             | 2032-08-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                            | UBS Group AG                                                                                           | CUSIP: 225401BJ6<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   3105000 | PA      | $3141825.30   | 0.12%             | 2034-08-10      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| KKR & Co Inc                                            | KKR & Co Inc                                                                                           | CUSIP: 48251W104<br>LEI: 54930013V5I303TF9571 | Long             | EC               | CORP              | US        |     84788 | NS      | $12428225.04  | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| ECOPETROL SA                                            | Ecopetrol SA                                                                                           | CUSIP: 279158AT6<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | CORP              | CO        |    110000 | PA      | $118079.50    | 0.00%             | 2029-01-19      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| Anticimex International AB                              | Anticimex International AB 2021 USD Term Loan B1                                                       | CUSIP: 000000000<br>LEI: 54930005SBU6WYFBEB41 | Long             | LON              | CORP              | SE        |   1933115 | PA      | $1934835.56   | 0.07%             | 2028-11-16      | Floating      | 7.66%                 | No            |                  2 | On Loan: No      |
| EXCELERATE ENERGY LP                                    | Excelerate Energy LP                                                                                   | CUSIP: 30069UAA6<br>LEI: LGL4IE90TNTFYJ55BK06 | Long             | DBT              | CORP              | US        |   1765000 | PA      | $1848325.65   | 0.07%             | 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        |   3369000 | PA      | $3225985.95   | 0.12%             | 2028-07-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| TELFON CELUAR DEL PARAGU                                | Telefonica Celular del Paraguay SA                                                                     | CUSIP: 000000000<br>LEI: 254900R8A8IKGF4THL54 | Long             | DBT              | CORP              | PY        |    203000 | PA      | $202683.32    | 0.01%             | 2027-04-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                | Long: BR233964  IRS EUR R V 06MEURIB 1 CCPVANILLA / Short: BR233964  IRS EUR P F  2.00000 2 CCPVANILLA | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | GB        |    380000 | OU      | $7705.03      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| VERISURE HOLDING AB                                     | Verisure Holding AB                                                                                    | CUSIP: 000000000<br>LEI: 549300VQQCWGISM3N408 | Long             | DBT              | CORP              | SE        |    725000 | PA      | $825276.37    | 0.03%             | 2027-02-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| FORTRESS TRANS & INFRAST                                | FTAI Aviation Investors LLC                                                                            | CUSIP: 34960PAD3<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |   2130000 | PA      | $2130639.00   | 0.08%             | 2028-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Newell Brands Inc                                       | Newell Brands Inc                                                                                      | CUSIP: 651229AY2<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |   1325000 | PA      | $1136108.00   | 0.04%             | 2046-04-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Buckeye Partners LP                                     | Buckeye Partners LP                                                                                    | CUSIP: 118230AR2<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |    889000 | PA      | $867503.98    | 0.03%             | 2027-12-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Noble Corp PLC                                          | Noble Corp PLC                                                                                         | CUSIP: 000000000<br>LEI: 549300I3HBUNXO0OG954 | N/A              | DE               |  | GB        |      2644 | NS      | $19195.44     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                           | Citigroup Inc                                                                                          | CUSIP: 172967PE5<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   2062000 | PA      | $2152975.44   | 0.08%             | 2028-11-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| MATTEL INC                                              | Mattel Inc                                                                                             | CUSIP: 577081BE1<br>LEI: 549300VELLG24KHTJ564 | Long             | DBT              | CORP              | US        |   2095000 | PA      | $2071619.80   | 0.08%             | 2026-04-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| INSTALLED BUILDING PRODU                                | Installed Building Products Inc                                                                        | CUSIP: 45780RAA9<br>LEI: 549300I95Y9P9YM5FI86 | Long             | DBT              | CORP              | US        |    770000 | PA      | $767998.00    | 0.03%             | 2028-02-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| QORVO INC                                               | Qorvo Inc                                                                                              | CUSIP: 74736KAH4<br>LEI: 254900YAUJV2EUEVBR11 | Long             | DBT              | CORP              | US        |    720000 | PA      | $698364.00    | 0.03%             | 2029-10-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Blackstone Inc                                          | Blackstone Inc                                                                                         | CUSIP: 09260D107<br>LEI: 5299004LW4QWGZUB8Y96 | Long             | EC               | CORP              | US        |     73421 | NS      | $12698896.16  | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| LCM INVESTMENTS HOLDINGS                                | LCM Investments Holdings II LLC                                                                        | CUSIP: 50190EAC8<br>LEI: 549300P5V78NNQTG4428 | Long             | DBT              | CORP              | US        |   1155000 | PA      | $1221181.50   | 0.05%             | 2031-08-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| TEAMSYSTEM SPA                                          | TeamSystem SpA                                                                                         | CUSIP: 000000000<br>LEI: 81560062081DF3AB7A90 | Long             | DBT              | CORP              | IT        |   2975000 | PA      | $3369605.41   | 0.13%             | 2028-02-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| MEXICO CITY ARPT TRUST                                  | Mexico City Airport Trust                                                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | MX        |    240000 | PA      | $232920.00    | 0.01%             | 2028-04-30      | Fixed         | 3.88%                 | 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        |   2932949 | PA      | $2943214.38   | 0.11%             | 2031-05-21      | Floating      | 7.32%                 | No            |                  2 | On Loan: No      |
| Eskom Holdings SOC Ltd                                  | Eskom Holdings SOC Ltd                                                                                 | CUSIP: 000000000<br>LEI: 3789001900ED06F65111 | Long             | DBT              | CORP              | ZA        |    458000 | PA      | $483190.00    | 0.02%             | 2028-08-10      | Fixed         | 8.45%                 | No            |                  2 | On Loan: No      |
| Allstate Corp/The                                       | Allstate Corp/The                                                                                      | CUSIP: 020002101<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | EC               | CORP              | US        |     48161 | NS      | $9788723.25   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares U.S. Technology ETF                             | iShares U.S. Technology ETF                                                                            | CUSIP: 464287721<br>LEI: 5493003RR427QZS78C77 | Long             | EC               | RF                | US        |     43398 | NS      | $7868491.38   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| NEXSTAR MEDIA INC                                       | Nexstar Media Inc                                                                                      | CUSIP: 65343HAA9<br>LEI: 5493006PK6I4I2OOT688 | Long             | DBT              | CORP              | US        |   1440000 | PA      | $1437508.80   | 0.06%             | 2027-07-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Asurion LLC                                             | Asurion LLC 2021 Term Loan B9                                                                          | CUSIP: 04649VAY6<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |   2453594 | PA      | $2452268.81   | 0.09%             | 2027-07-31      | Floating      | 7.72%                 | No            |                  2 | On Loan: No      |
| TRAVEL + LEISURE CO                                     | Travel + Leisure Co                                                                                    | CUSIP: 98310WAS7<br>LEI: T4VNTWMFQ7JQB65L7T35 | Long             | DBT              | CORP              | US        |    573000 | PA      | $577366.26    | 0.02%             | 2026-07-31      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| STONEX GROUP INC                                        | StoneX Group Inc                                                                                       | CUSIP: 861896AA6<br>LEI: 549300JUF07L8VF02M60 | Long             | DBT              | CORP              | US        |   1715000 | PA      | $1805380.50   | 0.07%             | 2031-03-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| ACUSHNET CO                                             | Acushnet Co                                                                                            | CUSIP: 005095AA2<br>LEI: 549300H805O14KEFES79 | Long             | DBT              | CORP              | US        |    310000 | PA      | $323680.30    | 0.01%             | 2028-10-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Dun & Bradstreet Corporation (The)                      | Dun & Bradstreet Corporation (The) 2024 Term Loan                                                      | CUSIP: 26483NAW0<br>LEI: RI37BMPWE56BCJ747E14 | Long             | LON              | CORP              | US        |   3285266 | PA      | $3284214.53   | 0.13%             | 2029-01-18      | Floating      | 6.60%                 | No            |                  2 | On Loan: No      |
| TRUST FIBRAUNO                                          | Trust Fibra Uno                                                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              |  | MX        |    200000 | PA      | $190774.00    | 0.01%             | 2030-01-15      | Fixed         | 4.87%                 | No            |                  2 | On Loan: No      |
| TAYLOR MORRISON COMM                                    | Taylor Morrison Communities Inc                                                                        | CUSIP: 87724RAJ1<br>LEI: 549300O1Z08HI2MRK572 | Long             | DBT              | CORP              | US        |   1246000 | PA      | $1228219.58   | 0.05%             | 2030-08-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| SNAP INC                                                | Snap Inc                                                                                               | CUSIP: 83304AAL0<br>LEI: 549300JNC0L6VP8A2Q35 | Long             | DBT              | CORP              | US        |    740000 | PA      | $758374.20    | 0.03%             | 2033-03-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| LIONS GATE CAPITAL HOLD                                 | Starz Capital Holdings LLC                                                                             | CUSIP: 53627NAE1<br>LEI: 549300MWJHNLR35C0837 | Long             | DBT              | CORP              | US        |   2435000 | PA      | $2015668.65   | 0.08%             | 2029-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PLANO HOLDCO INC                                        | Plano HoldCo Inc Term Loan B                                                                           | CUSIP: 72712EAB3<br>LEI: 254900C53JLEP3CCOQ10 | Long             | LON              | CORP              | US        |   3092250 | PA      | $2991751.88   | 0.12%             | 2031-10-02      | Floating      | 7.80%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP                                               | Sunoco LP                                                                                              | CUSIP: 86765KAC3<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |    980000 | PA      | $1027490.80   | 0.04%             | 2032-05-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| CONTINENTAL RESOURCES                                   | Continental Resources Inc/OK                                                                           | CUSIP: 212015AT8<br>LEI: XXRTID9RYWOZ0UPIVR53 | Long             | DBT              | CORP              | US        |   1251000 | PA      | $1257467.67   | 0.05%             | 2031-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| SNF GROUP SACA                                          | SNF Group SACA                                                                                         | CUSIP: 7846ELAE7<br>LEI: 969500F7036FEDYPRV54 | Long             | DBT              | CORP              | FR        |    925000 | PA      | $850065.75    | 0.03%             | 2030-03-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| AES PANAMA GENERATION HL                                | AES Panama Generation Holdings SRL                                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | PA        |    225801 | PA      | $205253.31    | 0.01%             | 2030-05-31      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                                        | T-Mobile USA Inc                                                                                       | CUSIP: 87264AAZ8<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |   1821000 | PA      | $1496133.60   | 0.06%             | 2050-04-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                           | TransDigm Inc                                                                                          | CUSIP: 893647BR7<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |   1965000 | PA      | $2005223.55   | 0.08%             | 2028-08-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| IMOLA MERGER CORP                                       | Imola Merger Corp                                                                                      | CUSIP: 45258LAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4318000 | PA      | $4186473.72   | 0.16%             | 2029-05-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| TRANSOCEAN INC                                          | Transocean Inc                                                                                         | CUSIP: 893830BX6<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | KY        |    276000 | PA      | $286051.92    | 0.01%             | 2030-02-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Dcert Buyer Inc                                         | DCert Buyer Inc 2021 2nd Lien Term Loan                                                                | CUSIP: 24022KAJ8<br>LEI: 549300EF826JEEUCHZ67 | Long             | LON              | CORP              | US        |         0 | PA      | $0.00         | 0.00%             | 2029-02-19      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| KEURIG DR PEPPER INC                                    | Keurig Dr Pepper Inc                                                                                   | CUSIP: 49271VAK6<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | DBT              | CORP              | US        |    298000 | PA      | $217957.20    | 0.01%             | 2050-05-01      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| YUM! BRANDS INC                                         | Yum! Brands Inc                                                                                        | CUSIP: 988498AL5<br>LEI: 549300JE8XHZZ7OHN517 | Long             | DBT              | CORP              | US        |   2939000 | PA      | $2896178.77   | 0.11%             | 2030-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| DT MIDSTREAM INC                                        | DT Midstream Inc                                                                                       | CUSIP: 23345MAB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3960000 | PA      | $3770553.60   | 0.15%             | 2031-06-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Starbucks Corp                                          | Starbucks Corp                                                                                         | CUSIP: 855244109<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | EC               | CORP              | US        |     95201 | NS      | $8488121.16   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| HOWARD MIDSTREAM ENERGY                                 | Howard Midstream Energy Partners LLC                                                                   | CUSIP: 442722AB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1550000 | PA      | $1619951.50   | 0.06%             | 2028-07-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| ONESKY FLIGHT LLC                                       | OneSky Flight LLC                                                                                      | CUSIP: 68278CAA3<br>LEI: 549300PM6NEPXGG5B882 | Long             | DBT              | CORP              | US        |   2400000 | PA      | $2529336.00   | 0.10%             | 2029-12-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| MADISON IAQ LLC                                         | Madison IAQ LLC                                                                                        | CUSIP: 55760LAA5<br>LEI: 549300IXDNBXNHUPBU73 | Long             | DBT              | CORP              | US        |   4119000 | PA      | $3986738.91   | 0.15%             | 2028-06-30      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| ALBERTSONS COS/SAFEWAY                                  | Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC                                  | CUSIP: 013092AC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2490000 | PA      | $2471250.30   | 0.10%             | 2027-01-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                                  | CCO Holdings LLC / CCO Holdings Capital Corp                                                           | CUSIP: 1248EPCK7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5885000 | PA      | $5370297.90   | 0.21%             | 2031-02-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                          | NRG Energy Inc                                                                                         | CUSIP: 629377CQ3<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    428000 | PA      | $401810.68    | 0.02%             | 2029-02-15      | Fixed         | 3.38%                 | 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        |   1463000 | PA      | $1332266.32   | 0.05%             | 2029-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Angola Government International Bonds                   | Angola Government International Bonds                                                                  | CUSIP: 000000000<br>LEI: 549300QHR2R3J8JSGK83 | Long             | DBT              | NUSS              | AO        |    200000 | PA      | $158312.00    | 0.01%             | 2049-11-26      | Fixed         | 9.12%                 | No            |                  2 | On Loan: No      |
| Vinci SA                                                | Vinci SA                                                                                               | CUSIP: 927320101<br>LEI: 213800WFQ334R8UXUG83 | Long             | EC               | CORP              | FR        |    150359 | NS      | $5206932.17   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| KINDER MORGAN ENER PART                                 | Kinder Morgan Energy Partners LP                                                                       | CUSIP: 494550AQ9<br>LEI: 549300PDHUGWPWGOT525 | Long             | DBT              | CORP              | US        |   6715000 | PA      | $7535640.15   | 0.29%             | 2033-08-15      | Fixed         | 7.30%                 | No            |                  2 | On Loan: No      |
| PULTEGROUP INC                                          | PulteGroup Inc                                                                                         | CUSIP: 745867AM3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2880000 | PA      | $3361651.20   | 0.13%             | 2032-06-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| TRANSMONTAIGNE PARTNERS                                 | TransMontaigne Partners LLC                                                                            | CUSIP: 89377AAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4115000 | PA      | $4300133.85   | 0.17%             | 2030-06-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| NAVIENT CORP                                            | Navient Corp                                                                                           | CUSIP: 63938CAM0<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |   2293000 | PA      | $2243562.92   | 0.09%             | 2029-03-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                                         | CVS Health Corp                                                                                        | CUSIP: 126650DJ6<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |   6490000 | PA      | $6224688.80   | 0.24%             | 2030-04-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ECUADOR                                     | Ecuador Government International Bond                                                                  | CUSIP: 000000000<br>LEI: 5299003Y2U5XK0A35H71 | Long             | DBT              | NUSS              | EC        |     57283 | PA      | $41071.91     | 0.00%             | 2030-07-31      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| JEFFERIES FIN LLC / JFIN                                | Jefferies Finance LLC / JFIN Co-Issuer Corp                                                            | CUSIP: 47232MAF9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3069000 | PA      | $2960234.64   | 0.11%             | 2028-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SUBURBAN PROPANE PARTNRS                                | Suburban Propane Partners LP/Suburban Energy Finance Corp                                              | CUSIP: 864486AL9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2155000 | PA      | $2024256.15   | 0.08%             | 2031-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BOYNE USA INC                                           | Boyne USA Inc                                                                                          | CUSIP: 103557AC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2596000 | PA      | $2518976.68   | 0.10%             | 2029-05-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| SIX FLAGS ENTERTAINME                                   | Six Flags Entertainment Corp                                                                           | CUSIP: 83001AAC6<br>LEI: 529900AS2CYWYFHRS781 | Long             | DBT              | CORP              | US        |   1779000 | PA      | $1775388.63   | 0.07%             | 2027-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. LLC                                | PURCHASED USD / SOLD EUR                                                                               | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              |  | US        |         1 | NC      | $10175.56     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CINEMARK USA INC                                        | Cinemark USA Inc                                                                                       | CUSIP: 172441BF3<br>LEI: 54930008H2137JSCPQ09 | Long             | DBT              | CORP              | US        |   3687000 | PA      | $3662665.80   | 0.14%             | 2028-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| HUGHES SATELLITE SYSTEMS                                | Hughes Satellite Systems Corp                                                                          | CUSIP: 444454AF9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1140000 | PA      | $866023.80    | 0.03%             | 2026-08-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| TruGreen Limited Partnership                            | TruGreen Limited Partnership 2020 2nd Lien Term Loan                                                   | CUSIP: 89787RAK8<br>LEI: 549300QNRP2MNHR3QM19 | Long             | LON              | CORP              | US        |   1750000 | PA      | $1443750.00   | 0.06%             | 2028-11-02      | Floating      | 13.07%                | No            |                  2 | On Loan: No      |
| AUDACY CLASS A                                          | AUDACY CLASS A                                                                                         | CUSIP: 948WML906<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     36581 | NS      | $461835.13    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley                                          | Morgan Stanley                                                                                         | CUSIP: 61761J406<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |    183597 | NS      | $4577073.21   | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| ORGANON & CO/ORGANON FOR                                | Organon & Co / Organon Foreign Debt Co-Issuer BV                                                       | CUSIP: 68622TAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    700000 | PA      | $662214.00    | 0.03%             | 2028-04-30      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| ARIS WATER HOLDINGS LLC                                 | Aris Water Holdings LLC                                                                                | CUSIP: 04041NAA0<br>LEI: 5493007AWQW8ZKCHVV46 | Long             | DBT              | CORP              | US        |   1485000 | PA      | $1523862.45   | 0.06%             | 2030-04-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| NOVELIS CORP                                            | Novelis Corp                                                                                           | CUSIP: 670001AL0<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |    630000 | PA      | $648729.90    | 0.03%             | 2030-01-30      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| PLUSPETROL SA                                           | Pluspetrol SA                                                                                          | CUSIP: 72942BAA3<br>LEI: 254900QSCHBUBX6J6H71 | Long             | DBT              | CORP              | AR        |    200000 | PA      | $203375.00    | 0.01%             | 2032-05-30      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| RXO INC                                                 | RXO Inc                                                                                                | CUSIP: 98379JAA3<br>LEI: 549300KL8CA6GP8XPM30 | Long             | DBT              | CORP              | US        |   1675000 | PA      | $1709555.25   | 0.07%             | 2027-11-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CLEVELAND-CLIFFS INC                                    | Cleveland-Cliffs Inc                                                                                   | CUSIP: 185899AH4<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |   2160000 | PA      | $2162376.00   | 0.08%             | 2027-06-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                  | US 10YR NOTE (CBT)SEP25                                                                                | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |       -44 | NC      | $-11083.60    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| ASHLAND INC                                             | Ashland Inc                                                                                            | CUSIP: 04433LAA0<br>LEI: 529900E4L9R04SB8HB11 | Long             | DBT              | CORP              | US        |   3095000 | PA      | $2720443.10   | 0.10%             | 2031-09-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| WR GRACE HOLDING LLC                                    | WR Grace Holdings LLC                                                                                  | CUSIP: 92943GAA9<br>LEI: 549300WNOVFRGYOAEB12 | Long             | DBT              | CORP              | US        |   1780000 | PA      | $1642815.40   | 0.06%             | 2029-08-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Caterpillar Inc                                         | Caterpillar Inc                                                                                        | CUSIP: 149123101<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | EC               | CORP              | US        |     22771 | NS      | $9974153.42   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| SS&C TECHNOLOGIES INC                                   | SS&C Technologies Inc                                                                                  | CUSIP: 78466CAD8<br>LEI: 549300KY09TR3J12JU49 | Long             | DBT              | CORP              | US        |   3530000 | PA      | $3633146.60   | 0.14%             | 2032-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ADT SEC CORP                                            | ADT Security Corp/The                                                                                  | CUSIP: 00109LAA1<br>LEI: 5493009JEEDYLVRA0J13 | Long             | DBT              | CORP              | US        |   4207000 | PA      | $4026982.47   | 0.16%             | 2029-08-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE SA                                        | Altice France SA                                                                                       | CUSIP: 02156LAH4<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |   4695000 | PA      | $4079438.55   | 0.16%             | 2029-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ABC SUPPLY CO INC                                       | American Builders & Contractors Supply Co Inc                                                          | CUSIP: 024747AG2<br>LEI: 549300H5GQ4C1BEKG397 | Long             | DBT              | CORP              | US        |   2650000 | PA      | $2496406.00   | 0.10%             | 2029-11-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| ORBIA ADVANCE CORP SAB                                  | Orbia Advance Corp SAB de CV                                                                           | CUSIP: 68560EAC2<br>LEI: 549300MVHZ20SBIOEQ79 | Long             | DBT              | CORP              | MX        |    240000 | PA      | $245443.20    | 0.01%             | 2030-05-13      | Fixed         | 6.80%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                                  | Venture Global LNG Inc                                                                                 | CUSIP: 92332YAE1<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |   1325000 | PA      | $1343868.00   | 0.05%             | 2030-01-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ADIENT GLOBAL HOLDINGS                                  | Adient Global Holdings Ltd                                                                             | CUSIP: 00687YAB1<br>LEI: 213800VA38VCKE6M8790 | Long             | DBT              | CORP              | JE        |   1920000 | PA      | $1965465.60   | 0.08%             | 2028-04-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| TEREX CORP                                              | Terex Corp                                                                                             | CUSIP: 880779BB8<br>LEI: YAWJZJYEQ7M1SYMOS462 | Long             | DBT              | CORP              | US        |   1015000 | PA      | $1016492.05   | 0.04%             | 2032-10-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BOEING CO                                               | Boeing Co/The                                                                                          | CUSIP: 097023CY9<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   3292000 | PA      | $3344013.60   | 0.13%             | 2030-05-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| CSN ISLANDS XI CORP                                     | CSN Inova Ventures                                                                                     | CUSIP: 000000000<br>LEI: 222100R8R68DM7VM3661 | Long             | DBT              | CORP              | KY        |    520000 | PA      | $493651.60    | 0.02%             | 2028-01-28      | Fixed         | 6.75%                 | 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        |   4439113 | PA      | $4436360.71   | 0.17%             | 2028-04-03      | Floating      | 7.51%                 | No            |                  2 | On Loan: No      |
| Kaman Corporation                                       | Kaman Corporation 2025 Delayed Draw Term Loan                                                          | CUSIP: 48354VAN2<br>LEI: 5493003YK076OLTEQF95 | Long             | LON              | CORP              | US        |    310345 | PA      | $310441.04    | 0.01%             | 2032-02-26      | Floating      | 7.08%                 | No            |                  2 | On Loan: No      |
| BANK OF NY MELLON CORP                                  | Bank of New York Mellon Corp/The                                                                       | CUSIP: 064058AJ9<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |    960000 | PA      | $948048.00    | 0.04%             | 2026-03-20      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS                                | Univision Communications Inc                                                                           | CUSIP: 914906BA9<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |   1600000 | PA      | $1660224.00   | 0.06%             | 2032-08-01      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                             | Oracle Corp                                                                                            | CUSIP: 68389XCP8<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   1935000 | PA      | $1928246.85   | 0.07%             | 2033-02-06      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| ADANI ELECTRICITY MUMBAI                                | Adani Electricity Mumbai Ltd                                                                           | CUSIP: 000000000<br>LEI: 335800AIC1B5EBFVUC38 | Long             | DBT              | CORP              | IN        |    410000 | PA      | $376995.00    | 0.01%             | 2030-02-12      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| HOWARD HUGHES CORP                                      | Howard Hughes Corp/The                                                                                 | CUSIP: 44267DAE7<br>LEI: 549300BVHY25JZC1KI49 | Long             | DBT              | CORP              | US        |    704000 | PA      | $671672.32    | 0.03%             | 2029-02-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| MURPHY OIL CORP                                         | Murphy Oil Corp                                                                                        | CUSIP: 626717AP7<br>LEI: QBKYQD0ODE7DC7PDIN91 | Long             | DBT              | CORP              | US        |   1388000 | PA      | $1330425.76   | 0.05%             | 2032-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| TECHNIPFMC PLC                                          | TechnipFMC PLC                                                                                         | CUSIP: 87854XAE1<br>LEI: 549300D5I93QWCJTCK36 | Long             | DBT              | CORP              | GB        |   3490000 | PA      | $3488813.40   | 0.13%             | 2026-02-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| AMNEAL PHARMACEUTICALS L                                | Amneal Pharmaceuticals LLC                                                                             | CUSIP: 03168LAA3<br>LEI: 54930037VIXE7LRZ1M66 | Long             | DBT              | CORP              | US        |    533000 | PA      | $540968.35    | 0.02%             | 2032-08-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| ESC CB CHESAPEAKE ENER                                  | ESC CB CHESAPEAKE ENER                                                                                 | CUSIP: 165ESCAC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2000000 | PA      | $6600.00      | 0.00%             | 2026-09-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PENSKE AUTOMOTIVE GROUP                                 | Penske Automotive Group Inc                                                                            | CUSIP: 70959WAK9<br>LEI: 549300W7UTQ0M4C7LB15 | Long             | DBT              | CORP              | US        |   2089000 | PA      | $1977447.40   | 0.08%             | 2029-06-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| KLA Corp                                                | KLA Corp                                                                                               | CUSIP: 482480100<br>LEI: 549300H0BF5JCG96TJ81 | Long             | EC               | CORP              | US        |      7476 | NS      | $6571628.28   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| NEWS CORP                                               | News Corp                                                                                              | CUSIP: 65249BAA7<br>LEI: 549300ITS31QK8VRBQ14 | Long             | DBT              | CORP              | US        |   2370000 | PA      | $2265174.90   | 0.09%             | 2029-05-15      | Fixed         | 3.88%                 | 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        |    865000 | PA      | $906269.15    | 0.03%             | 2031-10-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| CREDIT BANK OF MOSCOW (C                                | Credit Bank of Moscow Via CBOM Finance PLC                                                             | CUSIP: 000000000<br>LEI: 635400Y22HQLUDCVZX38 | Long             | DBT              | CORP              | IE        |    280000 | PA      | $0.00         | 0.00%             | 2027-10-05      | Variable      | 7.50%                 | No            |                  3 | On Loan: No      |
| RHP HOTEL PPTY/RHP FINAN                                | RHP Hotel Properties LP / RHP Finance Corp                                                             | CUSIP: 749571AL9<br>LEI: N/A                  | Long             | DBT              |  | US        |    410000 | PA      | $419819.50    | 0.02%             | 2033-06-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| RAKUTEN GROUP INC                                       | Rakuten Group Inc                                                                                      | CUSIP: 75102WAM0<br>LEI: 529900IMXUCQKUL1H943 | Long             | DBT              | CORP              | JP        |   1125000 | PA      | $1117068.75   | 0.04%             | 2029-12-15      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES                                  | PNC Financial Services Group Inc/The                                                                   | CUSIP: 693475BD6<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |   1920000 | PA      | $1924627.20   | 0.07%             | 2027-05-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| VISTA OIL & GAS ARGENTIN                                | Vista Energy Argentina SAU                                                                             | CUSIP: 000000000<br>LEI: 549300FE4UJNCG1DB123 | Long             | DBT              | CORP              | AR        |    360000 | PA      | $351882.00    | 0.01%             | 2035-12-10      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                           | Citigroup Inc                                                                                          | CUSIP: 172967MU2<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    960000 | PA      | $953280.00    | 0.04%             | 2025-12-10      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| First Brands Group LLC                                  | First Brands Group LLC 2022 Incremental Term Loan                                                      | CUSIP: 31935HAG2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    682541 | PA      | $665620.82    | 0.03%             | 2027-03-30      | Floating      | 9.57%                 | No            |                  2 | On Loan: No      |
| SEAWORLD PARKS & ENTERTA                                | SeaWorld Parks & Entertainment Inc                                                                     | CUSIP: 81282UAG7<br>LEI: 549300UZV72O3371JJ53 | Long             | DBT              | CORP              | US        |   4680000 | PA      | $4565012.40   | 0.18%             | 2029-08-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                     | JPMorgan Chase & Co                                                                                    | CUSIP: 48128AAJ2<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   2435000 | PA      | $2499430.10   | 0.10%             | 2030-04-01      | Fixed         | 6.50%                 | 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        |    928000 | PA      | $972024.32    | 0.04%             | 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        |   1745000 | PA      | $1790038.45   | 0.07%             | 2033-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| LIGHT & WONDER INTL INC                                 | Light & Wonder International Inc                                                                       | CUSIP: 80874YBC3<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | DBT              | CORP              | US        |    480000 | PA      | $480619.20    | 0.02%             | 2028-05-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| CINEMARK USA INC                                        | Cinemark USA Inc 2025 Term Loan B                                                                      | CUSIP: 172442AV7<br>LEI: 54930008H2137JSCPQ09 | Long             | LON              | CORP              | US        |         0 | PA      | $0.00         | 0.00%             | 2030-05-24      | Floating      | 6.61%                 | No            |                  2 | On Loan: No      |
| BLUE RACER MID LLC/FINAN                                | Blue Racer Midstream LLC / Blue Racer Finance Corp                                                     | CUSIP: 095796AJ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    675000 | PA      | $700056.00    | 0.03%             | 2029-07-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| HILLENBRAND INC                                         | Hillenbrand Inc                                                                                        | CUSIP: 431571AF5<br>LEI: U246OE781574J2BUD366 | Long             | DBT              | CORP              | US        |   1090000 | PA      | $1104704.10   | 0.04%             | 2029-02-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| MACQUARIE AIRFINANCE HLD                                | Macquarie Airfinance Holdings Ltd                                                                      | CUSIP: 55609NAC2<br>LEI: 549300MCGUSL5B852H65 | Long             | DBT              | CORP              | GB        |    340000 | PA      | $353637.40    | 0.01%             | 2029-03-26      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| BP PLC                                                  | BP PLC                                                                                                 | CUSIP: 055622104<br>LEI: 213800LH1BZH3DI6G760 | Long             | EC               | CORP              | GB        |    173020 | NS      | $5562593.00   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| RAIZEN FUELS FINANCE                                    | Raizen Fuels Finance SA                                                                                | CUSIP: 000000000<br>LEI: 52990010NH26VC32Q522 | Long             | DBT              | CORP              | LU        |    200000 | PA      | $186300.00    | 0.01%             | 2035-01-17      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| REWORLD HOLDING CORP                                    | Reworld Holding Corp                                                                                   | CUSIP: 22282EAJ1<br>LEI: 40XIFLS8XDQGGHGPGC04 | Long             | DBT              | CORP              | US        |    645000 | PA      | $612208.20    | 0.02%             | 2030-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FREEDOM MORTGAGE HOLD                                   | Freedom Mortgage Holdings LLC                                                                          | CUSIP: 35641AAA6<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |   4870000 | PA      | $5092364.20   | 0.20%             | 2029-02-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| Danaher Corp                                            | Danaher Corp                                                                                           | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |     57458 | NS      | $11328419.28  | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| CLARIOS GLOBAL LP/US FIN                                | Clarios Global LP / Clarios US Finance Co                                                              | CUSIP: 69867DAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |   1775000 | PA      | $1784691.50   | 0.07%             | 2027-05-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| GLOBAL INFRASTRUCTURE SO                                | Global Infrastructure Solutions Inc                                                                    | CUSIP: 37960XAB3<br>LEI: 2549003BGLQITAJ6ZT28 | Long             | DBT              | CORP              | US        |   1335000 | PA      | $1372740.45   | 0.05%             | 2032-04-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| MATADOR RESOURCES CO                                    | Matador Resources Co                                                                                   | CUSIP: 576485AH9<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | DBT              | CORP              | US        |   1900000 | PA      | $1881741.00   | 0.07%             | 2033-04-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                | Long: SR233947  IRS USD R F  3.75000 2 CCPOIS / Short: SR233947  IRS USD P V 00MSOFR 1 CCPOIS          | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        | 165000000 | OU      | $1353462.00   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                           | Citigroup Inc                                                                                          | CUSIP: 17327CAQ6<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   3190000 | PA      | $2855528.50   | 0.11%             | 2033-01-25      | Fixed         | 3.06%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                                          | Bombardier Inc                                                                                         | CUSIP: 097751CC3<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |   4165000 | PA      | $4310441.80   | 0.17%             | 2032-06-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Financial Square Government Fund          | Goldman Sachs Financial Square Government Fund                                                         | CUSIP: 38148U619<br>LEI: 549300BRJMXN4GUWZ402 | Long             | EC               | RF                | US        |  51177323 | NS      | $51177322.63  | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Eurex Deutschland                                       | EURO-BOBL FUTURE SEP25                                                                                 | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              |  | DE        |       -39 | NC      | $38657.25     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| KINETIK HOLDINGS LP                                     | Kinetik Holdings LP                                                                                    | CUSIP: 49461MAB6<br>LEI: 549300RD6AJIMYC0HY12 | Long             | DBT              | CORP              | US        |    650000 | PA      | $663689.00    | 0.03%             | 2028-12-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| UBS Group AG                                            | UBS Group AG                                                                                           | CUSIP: 000000000<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   3800000 | PA      | $3800000.00   | 0.15%             | 2025-08-07      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co Ltd               | Taiwan Semiconductor Manufacturing Co Ltd                                                              | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |     59765 | NS      | $14440419.30  | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| LUKOIL SECURITIES BV                                    | Lukoil Securities BV                                                                                   | CUSIP: 000000000<br>LEI: 724500IVNQ6LF8OFIO42 | Long             | DBT              | CORP              | NL        |    250000 | PA      | $180000.00    | 0.01%             | 2030-05-06      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                  | US LONG BOND(CBT) SEP25                                                                                | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |       382 | NC      | $934814.49    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| CARNIVAL PLC                                            | Carnival PLC                                                                                           | CUSIP: 000000000<br>LEI: 4DR1VPDQMHD3N3QW8W95 | Long             | DBT              | CORP              | GB        |   2443000 | PA      | $2830076.23   | 0.11%             | 2031-07-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| LOWE'S COS INC                                          | Lowe's Cos Inc                                                                                         | CUSIP: 548661EH6<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |   1977000 | PA      | $1856857.71   | 0.07%             | 2032-04-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| GLENCORE FINANCE CANADA                                 | Glencore Finance Canada Ltd                                                                            | CUSIP: 98417EAR1<br>LEI: 5493005TTO0UJ33KCK70 | Long             | DBT              | CORP              | CA        |   2880000 | PA      | $2750169.60   | 0.11%             | 2042-10-25      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| MPT OPER PARTNERSP/FINL                                 | MPT Operating Partnership LP / MPT Finance Corp                                                        | CUSIP: 55342UAM6<br>LEI: N/A                  | Long             | DBT              |  | US        |   2570000 | PA      | $1755824.00   | 0.07%             | 2031-03-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| PRAIRIE ECI ACQUIROR LP                                 | PRAIRIE ECI ACQUIROR LP 2025 REPRICED TERM LOAN B                                                      | CUSIP: 73955HAF1<br>LEI: 254900Q6KU2LVSIISH22 | Long             | LON              | CORP              | US        |   3300062 | PA      | $3318641.85   | 0.13%             | 2029-08-01      | Floating      | 8.11%                 | No            |                  2 | On Loan: No      |
| PERFORMANCE FOOD GROUP I                                | Performance Food Group Inc                                                                             | CUSIP: 69346VAA7<br>LEI: 549300OMUOGBYK0FFO76 | Long             | DBT              | CORP              | US        |   1105000 | PA      | $1103883.95   | 0.04%             | 2027-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PERMIAN RESOURC OPTG LLC                                | Permian Resources Operating LLC                                                                        | CUSIP: 71424VAB6<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |   1180000 | PA      | $1184897.00   | 0.05%             | 2033-02-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| New York Times Co/The                                   | New York Times Co/The                                                                                  | CUSIP: 650111107<br>LEI: 529900J1WEMMIW7BOH57 | Long             | EC               | CORP              | US        |    108361 | NS      | $5622852.29   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| COREWEAVE INC                                           | CoreWeave Inc                                                                                          | CUSIP: 21873SAC2<br>LEI: 984500511DP2B6186053 | Long             | DBT              | CORP              | US        |   4187000 | PA      | $4179630.88   | 0.16%             | 2031-02-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| FREEDOM MORTGAGE CORP                                   | Freedom Mortgage Corp                                                                                  | CUSIP: 35640YAJ6<br>LEI: 549300LYRWPSYPK6S325 | Long             | DBT              | CORP              | US        |   2505000 | PA      | $2506002.00   | 0.10%             | 2027-01-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Digital Realty Trust Inc                                | Digital Realty Trust Inc                                                                               | CUSIP: 253868103<br>LEI: 549300HKCZ31D08NEI41 | Long             | EC               |  | US        |     34872 | NS      | $6152815.68   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| ACRISURE LLC / FIN INC                                  | Acrisure LLC / Acrisure Finance Inc                                                                    | CUSIP: 00489LAH6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2390000 | PA      | $2330680.20   | 0.09%             | 2029-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| USI INC/NY                                              | USI Inc/NY                                                                                             | CUSIP: 90346KAB5<br>LEI: 2549006D7UF7072T7I27 | Long             | DBT              | CORP              | US        |   1125000 | PA      | $1188135.00   | 0.05%             | 2032-01-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| ARDAGH METAL PACKAGING                                  | Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC                            | CUSIP: 03969YAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    523000 | PA      | $523528.23    | 0.02%             | 2027-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BOEING CO                                               | Boeing Co/The                                                                                          | CUSIP: 097023CW3<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   1587000 | PA      | $1528630.14   | 0.06%             | 2050-05-01      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| VFH PARENT / VALOR CO                                   | VFH Parent LLC / Valor Co-Issuer Inc                                                                   | CUSIP: 91824YAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1505000 | PA      | $1566027.75   | 0.06%             | 2031-06-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CONSTRUCTION PARTNERS INC                               | Construction Partners Inc Term Loan B                                                                  | CUSIP: 21043XAH5<br>LEI: 549300MHLFL4E8JLZU44 | Long             | LON              | CORP              | US        |    597000 | PA      | $599238.75    | 0.02%             | 2031-11-03      | Floating      | 6.86%                 | No            |                  2 | On Loan: No      |
| BAT Capital Corp                                        | BAT Capital Corp                                                                                       | CUSIP: 05526DBD6<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |   6715000 | PA      | $5998106.60   | 0.23%             | 2037-08-15      | Fixed         | 4.39%                 | No            |                  2 | On Loan: No      |
| GRUBHUB HOLDINGS INC                                    | GrubHub Holdings Inc                                                                                   | CUSIP: 40010PAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3260000 | PA      | $3189910.00   | 0.12%             | 2027-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| XHR LP                                                  | XHR LP                                                                                                 | CUSIP: 98372MAC9<br>LEI: 549300M88BPT83ZL2164 | Long             | DBT              |  | US        |   2650000 | PA      | $2560748.00   | 0.10%             | 2029-06-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| EAGLE FUNDING LUXCO SARL                                | Eagle Funding Luxco Sarl                                                                               | CUSIP: 26951TAA8<br>LEI: 894500VDP08MVIZ6OA60 | Long             | DBT              | NUSS              | LU        |    250000 | PA      | $251675.00    | 0.01%             | 2030-08-17      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NEWELL BRANDS INC                                       | Newell Brands Inc                                                                                      | CUSIP: 651229BF2<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |    475000 | PA      | $461704.75    | 0.02%             | 2030-05-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| CAESARS ENTERTAIN INC                                   | Caesars Entertainment Inc                                                                              | CUSIP: 12769GAD2<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |   1325000 | PA      | $1279380.25   | 0.05%             | 2032-10-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                                | Warnermedia Holdings Inc                                                                               | CUSIP: 55903VBY8<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |   2205000 | PA      | $2074640.40   | 0.08%             | 2029-03-15      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| TRANSOCEAN INC                                          | Transocean Inc                                                                                         | CUSIP: 893830BZ1<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | KY        |   1260000 | PA      | $1159502.40   | 0.04%             | 2031-05-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| BWX TECHNOLOGIES INC                                    | BWX Technologies Inc                                                                                   | CUSIP: 05605HAB6<br>LEI: 549300NP85N265KWMS58 | Long             | DBT              | CORP              | US        |    983000 | PA      | $951396.55    | 0.04%             | 2028-06-30      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| CIVITAS RESOURCES INC                                   | Civitas Resources Inc                                                                                  | CUSIP: 17888HAA1<br>LEI: IIVIHPH28S64K95M2381 | Long             | DBT              | CORP              | US        |   1265000 | PA      | $1302380.75   | 0.05%             | 2028-07-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| VERISURE MIDHOLDING AB                                  | Verisure Midholding AB                                                                                 | CUSIP: 000000000<br>LEI: 549300496LYEZ55X1M49 | Long             | DBT              | CORP              | SE        |   1350000 | PA      | $1552790.18   | 0.06%             | 2029-02-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| VAIL RESORTS INC                                        | Vail Resorts Inc                                                                                       | CUSIP: 91879QAQ2<br>LEI: 529900PSZHRNU9HKH870 | Long             | DBT              | CORP              | US        |   1420000 | PA      | $1427398.20   | 0.06%             | 2030-07-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                                | PURCHASED EUR / SOLD USD                                                                               | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              |  | XX        |         1 | NC      | $-699.55      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                                  | CCO Holdings LLC / CCO Holdings Capital Corp                                                           | CUSIP: 1248EPCQ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4605000 | PA      | $4252441.20   | 0.16%             | 2032-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| MEXICO CITY ARPT TRUST                                  | Mexico City Airport Trust                                                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | MX        |    320000 | PA      | $269025.60    | 0.01%             | 2046-10-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BRF SA                                                  | BRF SA                                                                                                 | CUSIP: 000000000<br>LEI: 254900MTXR9LUVQFU480 | Long             | DBT              | CORP              | BR        |    206000 | PA      | $168535.38    | 0.01%             | 2050-09-21      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CITIZENS FINANCIAL GROUP                                | Citizens Financial Group Inc                                                                           | CUSIP: 174610AU9<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | DBT              | CORP              | US        |    960000 | PA      | $959875.20    | 0.04%             | 2025-10-06      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                                    | OneMain Finance Corp                                                                                   | CUSIP: 85172FAN9<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    536000 | PA      | $542303.36    | 0.02%             | 2026-03-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD                                     | NCL Corp Ltd                                                                                           | CUSIP: 62886HBR1<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |   1875000 | PA      | $1925943.75   | 0.07%             | 2032-02-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| BANCO INDUSTRIAL SA                                     | Banco Industrial SA/Guatemala                                                                          | CUSIP: 05991CAA1<br>LEI: 529900GF99QF67JEQU85 | Long             | DBT              | CORP              | GT        |    930000 | PA      | $927675.00    | 0.04%             | 2031-01-29      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| LCM INVESTMENTS HOLDINGS                                | LCM Investments Holdings II LLC                                                                        | CUSIP: 50190EAA2<br>LEI: 549300P5V78NNQTG4428 | Long             | DBT              | CORP              | US        |   2895000 | PA      | $2813505.75   | 0.11%             | 2029-05-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| ARD FINANCE SA                                          | ARD Finance SA                                                                                         | CUSIP: 000000000<br>LEI: 6354006P6QPGGPVJW880 | Long             | DBT              | CORP              | LU        |   2802736 | PA      | $132800.93    | 0.01%             | 2027-06-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MATCH GROUP HLD II LLC                                  | Match Group Holdings II LLC                                                                            | CUSIP: 57667JAA0<br>LEI: 5493003RFFE030RC9167 | Long             | DBT              | CORP              | US        |    883000 | PA      | $790073.08    | 0.03%             | 2031-10-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                            | Barclays PLC                                                                                           | CUSIP: 06738EBX2<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   3573000 | PA      | $3785021.82   | 0.15%             | 2029-03-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Kaseya Inc                                              | Kaseya Inc 2025 2nd Lien Term Loan B                                                                   | CUSIP: 48578AAE8<br>LEI: 254900MISXMLRZ63NH46 | Long             | LON              | CORP              | US        |   2525000 | PA      | $2532903.25   | 0.10%             | 2033-03-18      | Floating      | 9.36%                 | No            |                  2 | On Loan: No      |
| HEALTHEQUITY INC                                        | HealthEquity Inc                                                                                       | CUSIP: 42226AAA5<br>LEI: 529900LRJU1RAFQHM467 | Long             | DBT              | CORP              | US        |   1013000 | PA      | $976420.57    | 0.04%             | 2029-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BOOZ ALLEN HAMILTON INC                                 | Booz Allen Hamilton Inc                                                                                | CUSIP: 09951LAA1<br>LEI: 549300D7XCH2480XU542 | Long             | DBT              | CORP              | US        |   2413000 | PA      | $2340489.35   | 0.09%             | 2028-09-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| CELANESE US HOLDINGS LLC                                | Celanese US Holdings LLC                                                                               | CUSIP: 15089QAZ7<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |   1580000 | PA      | $1598628.20   | 0.06%             | 2030-04-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ATHENAHEALTH GROUP INC                                  | AthenaHealth Group Inc                                                                                 | CUSIP: 60337JAA4<br>LEI: 254900AA3KZN4Q7A5Z33 | Long             | DBT              | CORP              | US        |   4570000 | PA      | $4492812.70   | 0.17%             | 2030-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| NUSTAR LOGISTICS LP                                     | NuStar Logistics LP                                                                                    | CUSIP: 67059TAH8<br>LEI: N62BF2PKP51FIIOIUN20 | Long             | DBT              | CORP              | US        |   2464000 | PA      | $2539521.60   | 0.10%             | 2030-10-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| NATIONAL BANK OF UZBEKIS                                | National Bank of Uzbekistan                                                                            | CUSIP: 000000000<br>LEI: 253400TZJ7T1YULTGN68 | Long             | DBT              | NUSS              | UZ        |    786000 | PA      | $831195.00    | 0.03%             | 2029-07-05      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                  | US 5YR NOTE (CBT) SEP25                                                                                | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |      1518 | NC      | $563293.19    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| AMBIPAR LUX SARL                                        | Ambipar Lux Sarl                                                                                       | CUSIP: 000000000<br>LEI: 9845008C0E14F9BDEK55 | Long             | DBT              | CORP              | LU        |    350000 | PA      | $317187.50    | 0.01%             | 2031-02-06      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES                                  | PNC Financial Services Group Inc/The                                                                   | CUSIP: 693475BP9<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |   1920000 | PA      | $1949433.60   | 0.08%             | 2030-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Coca-Cola Europacific Partners PLC                      | Coca-Cola Europacific Partners PLC                                                                     | CUSIP: 000000000<br>LEI: 549300LTH67W4GWMRF57 | Long             | EC               | CORP              | GB        |    113550 | NS      | $11005266.00  | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co Inc                                          | Merck & Co Inc                                                                                         | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |    116013 | NS      | $9062935.56   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| ALFA BANK (ALFA BOND)                                   | Alfa Bank AO Via Alfa Bond Issuance PLC                                                                | CUSIP: 000000000<br>LEI: 54930015QM0G7XTNYR27 | Long             | DBT              | CORP              | IE        |    360000 | PA      | $0.00         | 0.00%             | 2030-04-15      | Fixed         | 5.95%                 | No            |                  3 | On Loan: No      |
| Healthpeak Properties Inc                               | Healthpeak Properties Inc                                                                              | CUSIP: 42250P103<br>LEI: 254900M6MTMZM0I22L81 | Long             | EC               |  | US        |    279195 | NS      | $4729563.30   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| ILIAD HOLDING SAS                                       | Iliad Holding SASU                                                                                     | CUSIP: 449691AG9<br>LEI: 9695009PXA7OI9NXN582 | Long             | DBT              | CORP              | FR        |   1400000 | PA      | $1438458.00   | 0.06%             | 2032-04-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Expand Energy Corp                                      | Expand Energy Corp                                                                                     | CUSIP: 165167735<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | EC               | CORP              | US        |      2642 | NS      | $276828.76    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| DIEBOLD NIXDORF INC                                     | Diebold Nixdorf Inc                                                                                    | CUSIP: 253651AK9<br>LEI: 549300XZK6EWDBAZSY16 | Long             | DBT              | CORP              | US        |   2300000 | PA      | $2437931.00   | 0.09%             | 2030-03-31      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO                                | Clear Channel Outdoor Holdings Inc                                                                     | CUSIP: 18453HAH9<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |    980000 | PA      | $977295.20    | 0.04%             | 2033-03-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| ARCOSA INC                                              | Arcosa Inc                                                                                             | CUSIP: 039653AC4<br>LEI: 549300WFHLTCZV7D6V29 | Long             | DBT              | CORP              | US        |    590000 | PA      | $610071.80    | 0.02%             | 2032-08-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Kraft Heinz Foods Co                                    | Kraft Heinz Foods Co                                                                                   | CUSIP: 50077LAL0<br>LEI: 5493003STKEZ2S0RNU91 | Long             | DBT              | CORP              | US        |   2208000 | PA      | $2135511.36   | 0.08%             | 2035-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Eli Lilly & Co                                          | Eli Lilly & Co                                                                                         | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |      6413 | NS      | $4746068.91   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| GYP HOLDINGS III CORP                                   | GYP Holdings III Corp                                                                                  | CUSIP: 36261NAA5<br>LEI: 549300055I1KJWZH9690 | Long             | DBT              | CORP              | US        |   1777000 | PA      | $1796138.29   | 0.07%             | 2029-05-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| SLM CORP                                                | SLM Corp                                                                                               | CUSIP: 78442PGF7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    970000 | PA      | $1007519.60   | 0.04%             | 2030-01-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ISOLVED INC                                             | ISOLVED INC 2025 TERM LOAN                                                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1210917 | PA      | $1213943.97   | 0.05%             | 2030-10-14      | Floating      | 7.10%                 | No            |                  2 | On Loan: No      |
| NOVELIS CORP                                            | Novelis Corp                                                                                           | CUSIP: 670001AE6<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |   2305000 | PA      | $2208351.35   | 0.09%             | 2030-01-30      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| RAIZEN FUELS FINANCE                                    | Raizen Fuels Finance SA                                                                                | CUSIP: 75102XAC0<br>LEI: 52990010NH26VC32Q522 | Long             | DBT              | CORP              | LU        |    260000 | PA      | $242840.00    | 0.01%             | 2054-03-05      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co                                     | JPMorgan Chase & Co                                                                                    | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |    133803 | NS      | $39637800.72  | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| ARDAGH METAL PACKAGING                                  | Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |   2426000 | PA      | $2505316.19   | 0.10%             | 2029-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| DNO ASA                                                 | DNO ASA                                                                                                | CUSIP: 000000000<br>LEI: 5967007LIEEXZXH3K072 | Long             | DBT              | CORP              | NO        |    890000 | PA      | $908690.00    | 0.04%             | 2030-03-27      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| AVIS BUDGET CAR/FINANCE                                 | Avis Budget Car Rental LLC / Avis Budget Finance Inc                                                   | CUSIP: 053773BK2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    910000 | PA      | $938583.10    | 0.04%             | 2032-06-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                            | Barclays PLC                                                                                           | CUSIP: 06738ECA1<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   4610000 | PA      | $4776467.10   | 0.18%             | 2033-08-09      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Metinvest BV                                            | Metinvest BV                                                                                           | CUSIP: 000000000<br>LEI: 635400TMCKVEU87EJ582 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $177000.00    | 0.01%             | 2026-04-23      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                           | Carnival Corp                                                                                          | CUSIP: 143658BY7<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |   2305000 | PA      | $2339920.75   | 0.09%             | 2030-03-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                      | Energy Transfer LP                                                                                     | CUSIP: 29273RAF6<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   2865000 | PA      | $3071509.20   | 0.12%             | 2036-10-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                  | US 10YR ULTRA FUT SEP25                                                                                | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |      -114 | NC      | $-59209.10    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| INGEVITY CORP                                           | Ingevity Corp                                                                                          | CUSIP: 45688CAB3<br>LEI: 5493009UTFC4B5IMGF87 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1187750.00   | 0.05%             | 2028-11-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| STARWOOD PROPERTY TRUST                                 | Starwood Property Trust Inc                                                                            | CUSIP: 85571BBD6<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              |  | US        |   2040000 | PA      | $2098507.20   | 0.08%             | 2030-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| PHINIA INC                                              | Phinia Inc                                                                                             | CUSIP: 71880KAB7<br>LEI: 254900HG6MORZE1FFM18 | Long             | DBT              | CORP              | US        |    895000 | PA      | $911459.05    | 0.04%             | 2032-10-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| AIR LEASE CORP                                          | Air Lease Corp                                                                                         | CUSIP: 00912XBQ6<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |   3186000 | PA      | $3112435.26   | 0.12%             | 2029-09-24      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| TTM TECHNOLOGIES INC                                    | TTM Technologies Inc                                                                                   | CUSIP: 87305RAK5<br>LEI: 549300SC4BDOIS008048 | Long             | DBT              | CORP              | US        |    769000 | PA      | $732587.85    | 0.03%             | 2029-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| STANDARD CHARTERED PLC                                  | Standard Chartered PLC                                                                                 | CUSIP: 853254BX7<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |   4055000 | PA      | $3727193.80   | 0.14%             | 2031-01-14      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Ally Financial Inc                                      | Ally Financial Inc                                                                                     | CUSIP: 36186CBY8<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |   3840000 | PA      | $4337011.20   | 0.17%             | 2031-11-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                                    | OneMain Finance Corp                                                                                   | CUSIP: 682691AA8<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |   1578000 | PA      | $1443601.74   | 0.06%             | 2030-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC                                       | Herc Holdings Inc                                                                                      | CUSIP: 42704LAF1<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |   1570000 | PA      | $1621150.60   | 0.06%             | 2030-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| American Express Co                                     | American Express Co                                                                                    | CUSIP: 025816109<br>LEI: R4PP93JZOLY261QX3811 | Long             | EC               | CORP              | US        |     41929 | NS      | $12549768.99  | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Zurich Insurance Group AG                               | Zurich Insurance Group AG                                                                              | CUSIP: 989825104<br>LEI: 529900QVNRBND50TXP03 | Long             | EC               | CORP              | CH        |    309202 | NS      | $10605628.60  | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| BUCKEYE PARTNERS LP                                     | Buckeye Partners LP                                                                                    | CUSIP: 118230AW1<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |    780000 | PA      | $807939.60    | 0.03%             | 2030-02-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| PIKE CORP                                               | Pike Corp                                                                                              | CUSIP: 721283AB5<br>LEI: 549300P4EKEP6HK0NC58 | Long             | DBT              | CORP              | US        |    785000 | PA      | $845405.75    | 0.03%             | 2031-01-31      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| METHANEX US OPERATIONS                                  | Methanex US Operations Inc                                                                             | CUSIP: 59151LAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1189356.00   | 0.05%             | 2032-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Merrill Lynch Alternative Note Asset                    | Merrill Lynch Alternative Note Asset Trust Series 2007-OAR3                                            | CUSIP: 59024JAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     98724 | PA      | $86929.69     | 0.00%             | 2047-07-25      | Floating      | 4.85%                 | No            |                  2 | On Loan: No      |
| Fastenal Co                                             | Fastenal Co                                                                                            | CUSIP: 311900104<br>LEI: 529900PP0C7H2HHPSJ32 | Long             | EC               | CORP              | US        |    255143 | NS      | $11769746.59  | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| MERSIN ULUSLARARASI LIMA                                | Mersin Uluslararasi Liman Isletmeciligi AS                                                             | CUSIP: 590454AC8<br>LEI: 635400DAFN6NT43HM530 | Long             | DBT              | CORP              | TR        |    200000 | PA      | $208250.00    | 0.01%             | 2028-11-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| YPF SOCIEDAD ANONIMA                                    | YPF SA                                                                                                 | CUSIP: 984245AX8<br>LEI: 5493003N7447U18U5U53 | Long             | DBT              | CORP              | AR        |    180000 | PA      | $189955.80    | 0.01%             | 2031-01-17      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Eaton Corp PLC                                          | Eaton Corp PLC                                                                                         | CUSIP: 000000000<br>LEI: 549300VDIGTMXUNT7H71 | Long             | EC               | CORP              | IE        |     39962 | NS      | $15374180.64  | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| RIVERS ENTERPRISE                                       | Rivers Enterprise Borrower LLC / Rivers Enterprise Finance Corp                                        | CUSIP: 76883NAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2340000 | PA      | $2361996.00   | 0.09%             | 2033-02-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| RYAN SPECIALTY                                          | Ryan Specialty LLC                                                                                     | CUSIP: 78351GAA3<br>LEI: 549300K52N7QBO3PYY45 | Long             | DBT              | CORP              | US        |   1260000 | PA      | $1263565.80   | 0.05%             | 2032-08-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                            | UBS Group AG                                                                                           | CUSIP: 902613BF4<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   5365000 | PA      | $5889965.25   | 0.23%             | 2028-11-13      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| CHART INDUSTRIES INC                                    | Chart Industries Inc                                                                                   | CUSIP: 16115QAF7<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | DBT              | CORP              | US        |   1665000 | PA      | $1744237.35   | 0.07%             | 2030-01-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| ConocoPhillips                                          | ConocoPhillips                                                                                         | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |    110694 | NS      | $10553565.96  | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| MAJORDRIVE HOLDINGS IV L                                | MajorDrive Holdings IV LLC                                                                             | CUSIP: 56085RAA8<br>LEI: 25490044R1FR5N8FIT62 | Long             | DBT              | CORP              | US        |   3765000 | PA      | $3109061.70   | 0.12%             | 2029-06-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| STAPLES INC                                             | Staples Inc                                                                                            | CUSIP: 855030AQ5<br>LEI: XQM2JINI1UL7642TU573 | Long             | DBT              | CORP              | US        |    650000 | PA      | $609017.50    | 0.02%             | 2029-09-01      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| BANCO GNB SUDAMERIS SA                                  | Banco GNB Sudameris SA                                                                                 | CUSIP: 000000000<br>LEI: 549300SO7QUETMQD9D84 | Long             | DBT              | CORP              | CO        |    200000 | PA      | $198392.00    | 0.01%             | 2031-04-16      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| ECHOSTAR CORP                                           | EchoStar Corp                                                                                          | CUSIP: 278768AA4<br>LEI: 549300EE20907QZ9GT38 | Long             | DBT              | CORP              | US        |   1286035 | PA      | $1218762.51   | 0.05%             | 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        |   1276740 | PA      | $1273420.46   | 0.05%             | 2031-05-19      | Floating      | 8.07%                 | No            |                  2 | On Loan: No      |
| FIRST QUANTUM MINERALS L                                | First Quantum Minerals Ltd                                                                             | CUSIP: 335934AU9<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |    250000 | PA      | $259375.00    | 0.01%             | 2031-06-01      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| TORONTO-DOMINION BANK                                   | Toronto-Dominion Bank/The                                                                              | CUSIP: 89117F8Z5<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |   2000000 | PA      | $2104300.00   | 0.08%             | 2082-10-31      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-09-02

**Name of Applicant:** GOLDMAN SACHS TRUST

**Signature:** Peter Fortner

**Name of Signer:** Peter Fortner

**Title:** Vice President