# EDGAR Filing Document

**Accession Number:** 0000883622
**File Stem:** 0001752724-23-043064
**Filing Date:** 2023-2
**Character Count:** 272453
**Document Hash:** e1b0833d295ac390c1896d1b76693533
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-043064.hdr.sgml**: 20230227

**ACCESSION NUMBER**: 0001752724-23-043064

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221230

**FILED AS OF DATE**: 20230227

**DATE AS OF CHANGE**: 20230227

**PERIOD START**: 20230930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** IVY FUNDS
- **CENTRAL INDEX KEY:** 0000883622
- **IRS NUMBER:** 481112076
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-06569
- **FILM NUMBER:** 23673998

**BUSINESS ADDRESS:**
- **STREET 1:** 6300 LAMAR AVE
- **CITY:** OVERLAND PARK
- **STATE:** KS
- **ZIP:** 66202
- **BUSINESS PHONE:** 9132362000

**MAIL ADDRESS:**
- **STREET 1:** P O BOX 29217
- **CITY:** SHAWNEE MISSION
- **STATE:** KS
- **ZIP:** 66201-9217

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** IVY FUNDS INC
- **DATE OF NAME CHANGE:** 20030630

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** W&R FUNDS INC
- **DATE OF NAME CHANGE:** 20000829

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** WADDELL & REED FUNDS INC
- **DATE OF NAME CHANGE:** 19920717

## Series and Classes Contracts Data

### Delaware Ivy Multi-Asset Income Fund (Series ID: S000051066)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000160886 | Class Y      | IMAYX           |
| C000160887 | Class A      | IMAAX           |
| C000160888 | Class C      | IMACX           |
| C000160889 | Class I      | IMAIX           |
| C000160890 | Class R6     | IMURX           |

## Nport-Ex

## Schedule of investments
Delaware Ivy Multi-Asset Income Fund

December 31, 2022 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Agency Mortgage-Backed Securities — 2.30%** | &nbsp;&nbsp;**Agency Mortgage-Backed Securities — 2.30%** | &nbsp;&nbsp;**Agency Mortgage-Backed Securities — 2.30%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fannie Mae S.F. 15 yr<br> 2.50% 8/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;358877 | $329297 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fannie Mae S.F. 20 yr<br> 4.00% 9/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;63731 | &nbsp;&nbsp; 60378 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fannie Mae S.F. 30 yr |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00% 1/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;402313 | &nbsp;&nbsp; 356526 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50% 8/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;310397 | &nbsp;&nbsp; 287155 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50% 6/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;293240 | &nbsp;&nbsp; 267379 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50% 1/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;135205 | &nbsp;&nbsp; 134033 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00% 9/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;157359 | &nbsp;&nbsp; 155183 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50% 8/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;141595 | &nbsp;&nbsp; 142041 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50% 10/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;282600 | &nbsp;&nbsp; 283413 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Freddie Mac S.F. 20 yr<br> 3.00% 5/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;295160 | &nbsp;&nbsp; 267954 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Freddie Mac S.F. 30 yr |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50% 7/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;625637 | &nbsp;&nbsp; 535048 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00% 8/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;171328 | &nbsp;&nbsp; 161603 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00% 7/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;271614 | &nbsp;&nbsp; 267858 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50% 9/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;30874 | &nbsp;&nbsp; 31422 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50% 10/1/52 | &nbsp;&nbsp;&nbsp;&nbsp;84305 | &nbsp;&nbsp; 84581 |
| &nbsp;&nbsp;&nbsp;**Total Agency Mortgage-Backed Securities<br> (cost $3,689,842)** | &nbsp;&nbsp;&nbsp;**Total Agency Mortgage-Backed Securities<br> (cost $3,689,842)** | &nbsp;&nbsp; **3363871** |
| &nbsp;&nbsp;**Convertible Bond — 0.54%** | &nbsp;&nbsp;**Convertible Bond — 0.54%** | &nbsp;&nbsp;**Convertible Bond — 0.54%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New Cotai 5.00% exercise price $0.00, maturity date 2/2/27 | &nbsp;&nbsp;&nbsp;&nbsp;340864 | &nbsp;&nbsp; 785905 |
| &nbsp;&nbsp;&nbsp;**Total Convertible Bond<br> (cost $329,260)** | &nbsp;&nbsp;&nbsp;**Total Convertible Bond<br> (cost $329,260)** | &nbsp;&nbsp; **785905** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Corporate Bonds — 32.18%** | &nbsp;&nbsp;**Corporate Bonds — 32.18%** | &nbsp;&nbsp;**Corporate Bonds — 32.18%** |
| &nbsp;&nbsp;Banking — 1.38% | &nbsp;&nbsp;Banking — 1.38% | &nbsp;&nbsp;Banking — 1.38% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bank of America |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.676% 6/19/41 μ | &nbsp;&nbsp;&nbsp;&nbsp;105000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71012 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.015% 7/22/33 μ | &nbsp;&nbsp;&nbsp;&nbsp;165000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157137 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.204% 11/10/28 μ | &nbsp;&nbsp;&nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72399 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Citigroup 5.61% 9/29/26 μ | &nbsp;&nbsp;&nbsp;&nbsp;115000 | &nbsp;&nbsp;&nbsp;&nbsp;115613 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Citizens Bank 6.064% 10/24/25 μ | &nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;252998 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fifth Third Bancorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.337% 4/25/33 μ | &nbsp;&nbsp;&nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27495 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.361% 10/27/28 μ | &nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20613 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goldman Sachs Group 1.542% 9/10/27 μ | &nbsp;&nbsp;&nbsp;&nbsp;180000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155499 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.953% 2/4/32 μ | &nbsp;&nbsp;&nbsp;&nbsp;285000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;218661 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.586% 4/26/33 μ | &nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37145 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.851% 7/25/28 μ | &nbsp;&nbsp;&nbsp;&nbsp;115000 | 112289 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KeyBank 5.85% 11/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;280000 | &nbsp;&nbsp;&nbsp;&nbsp;289511 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KeyCorp 4.789% 6/1/33 \*, μ | &nbsp;&nbsp;&nbsp;&nbsp;49000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46409 |

---

---

| | | |
|:---|:---|:---|
|  | **Principalamount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** |
| &nbsp;&nbsp;Banking (continued) | &nbsp;&nbsp;Banking (continued) | &nbsp;&nbsp;Banking (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley 6.296% 10/18/28 μ | &nbsp;&nbsp;&nbsp;&nbsp;15000 | $15511 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;State Street 2.203% 2/7/28 μ | &nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp; 67480 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SVB Financial Group 4.57% 4/29/33 \*, μ | &nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp; 88751 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Toronto-Dominion Bank 4.108% 6/8/27 \* | &nbsp;&nbsp;&nbsp;&nbsp;180000 | &nbsp;&nbsp; 174287 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wells Fargo & Co. 4.808% 7/25/28 μ | &nbsp;&nbsp;&nbsp;&nbsp;85000 | &nbsp;&nbsp; 83159 |
|  |  | &nbsp;&nbsp; 2005969 |
| &nbsp;&nbsp;Basic Industry — 1.22% | &nbsp;&nbsp;Basic Industry — 1.22% | &nbsp;&nbsp;Basic Industry — 1.22% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Celanese US Holdings 6.05% 3/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;105000 | &nbsp;&nbsp; 104680 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chemours 144A 5.75% 11/15/28 # | &nbsp;&nbsp;&nbsp;&nbsp;455000 | &nbsp;&nbsp; 409318 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;First Quantum Minerals 144A 6.875% 10/15/27 # | &nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp; 188057 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FMG Resources August 2006 144A 5.875% 4/15/30 # | &nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp; 373189 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Newmont 2.60% 7/15/32 \* | &nbsp;&nbsp;&nbsp;&nbsp;15000 | &nbsp;&nbsp; 11982 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Novelis 144A 4.75% 1/30/30 # | &nbsp;&nbsp;&nbsp;&nbsp;620000 | &nbsp;&nbsp; 551069 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sherwin-Williams 3.30% 5/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp; 137597 |
|  |  | &nbsp;&nbsp; 1775892 |
| &nbsp;&nbsp;Brokerage — 0.62% | &nbsp;&nbsp;Brokerage — 0.62% | &nbsp;&nbsp;Brokerage — 0.62% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Compass Group Diversified Holdings 144A 5.25% 4/15/29 # | &nbsp;&nbsp;&nbsp;&nbsp;208000 | &nbsp;&nbsp; 178275 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NFP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.875% 8/15/28 # | &nbsp;&nbsp;&nbsp;&nbsp;709000 | &nbsp;&nbsp; 585973 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.50% 10/1/30 # | &nbsp;&nbsp;&nbsp;&nbsp;155000 | &nbsp;&nbsp; 146719 |
|  |  | &nbsp;&nbsp; 910967 |
| &nbsp;&nbsp;Capital Goods — 3.00% | &nbsp;&nbsp;Capital Goods — 3.00% | &nbsp;&nbsp;Capital Goods — 3.00% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ahern Rentals 144A 7.375% 5/15/23 # | &nbsp;&nbsp;&nbsp;&nbsp;475000 | &nbsp;&nbsp; 475000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ARD Finance 144A PIK 6.50% 6/30/27 #, > | &nbsp;&nbsp;&nbsp;&nbsp;320000 | &nbsp;&nbsp; 223076 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Canpack 144A 3.875% 11/15/29 # | &nbsp;&nbsp;&nbsp;&nbsp;154000 | &nbsp;&nbsp; 121561 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Clydesdale Acquisition Holdings 144A 8.75% 4/15/30 # | &nbsp;&nbsp;&nbsp;&nbsp;165000 | &nbsp;&nbsp; 141545 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CP Atlas Buyer 144A 7.00% 12/1/28 # | &nbsp;&nbsp;&nbsp;&nbsp;395000 | &nbsp;&nbsp; 293882 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Eaton 4.15% 3/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;120000 | &nbsp;&nbsp;&nbsp; 111934 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GFL Environmental 144A 5.125% 12/15/26 # | &nbsp;&nbsp;&nbsp;&nbsp;78000 | &nbsp;&nbsp; 74719 |

---

NQ-IV930 [12/22] 2/23 (2747686) 1

------

Delaware Ivy Multi-Asset Income Fund (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principalamount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** |
| &nbsp;&nbsp;Capital Goods (continued) | &nbsp;&nbsp;Capital Goods (continued) | &nbsp;&nbsp;Capital Goods (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lockheed Martin |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.90% 6/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;75000 | $70902 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.15% 6/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;65000 | &nbsp;&nbsp; 55499 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Madison IAQ 144A 4.125% 6/30/28 # | &nbsp;&nbsp;&nbsp;&nbsp;38000 | &nbsp;&nbsp; 31825 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NESCO Holdings II 144A 5.50% 4/15/29 # | &nbsp;&nbsp;&nbsp;&nbsp;519000 | &nbsp;&nbsp; 454800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Parker-Hannifin 4.25% 9/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;210000 | &nbsp;&nbsp; 204099 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sealed Air 144A 5.00% 4/15/29 # | &nbsp;&nbsp;&nbsp;&nbsp;220000 | &nbsp;&nbsp; 207118 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Standard Industries |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 4.375% 7/15/30 # | &nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp; 32680 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 4.75% 1/15/28 # | &nbsp;&nbsp;&nbsp;&nbsp;38000 | &nbsp;&nbsp; 34251 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TransDigm |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.625% 1/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;177000 | &nbsp;&nbsp; 155941 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50% 11/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;551000 | &nbsp;&nbsp; 518535 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United Rentals North America 144A 6.00% 12/15/29 # | &nbsp;&nbsp;&nbsp;&nbsp;215000 | &nbsp;&nbsp; 214070 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wesco Aircraft Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 8.50% 11/15/24 # | &nbsp;&nbsp;&nbsp;&nbsp;748000 | &nbsp;&nbsp; 370260 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 9.00% 11/15/26 #, \* | &nbsp;&nbsp;&nbsp;&nbsp;820000 | &nbsp;&nbsp; 555550 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 13.125% 11/15/27 # | &nbsp;&nbsp;&nbsp;&nbsp;128000 | &nbsp;&nbsp; 32320 |
|  |  | &nbsp;&nbsp; 4379567 |
| &nbsp;&nbsp;Communications — 5.94% | &nbsp;&nbsp;Communications — 5.94% | &nbsp;&nbsp;Communications — 5.94% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Advantage Sales & Marketing 144A 6.50% 11/15/28 # | &nbsp;&nbsp;&nbsp;&nbsp;806000 | &nbsp;&nbsp; 615768 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Altice Financing 144A 5.75% 8/15/29 # | &nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp; 473063 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Altice France 144A 5.125% 7/15/29 # | &nbsp;&nbsp;&nbsp;&nbsp;254000 | &nbsp;&nbsp; 190888 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AMC Networks 4.25% 2/15/29 \* | &nbsp;&nbsp;&nbsp;&nbsp;340000 | &nbsp;&nbsp; 212353 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AT&T 3.50% 9/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;385000 | &nbsp;&nbsp; 261583 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CCO Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 4.25% 2/1/31 # | &nbsp;&nbsp;&nbsp;&nbsp;43000 | &nbsp;&nbsp; 34589 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 4.50% 8/15/30 # | &nbsp;&nbsp;&nbsp;&nbsp;696000 | &nbsp;&nbsp; 576573 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.375% 6/1/29 # | &nbsp;&nbsp;&nbsp;&nbsp;890000 | &nbsp;&nbsp; 806807 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Charter Communications Operating 3.85% 4/1/61 | &nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp; 5819 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consolidated<br> Communications |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.00% 10/1/28 # | &nbsp;&nbsp;&nbsp;&nbsp;122000 | &nbsp;&nbsp; 90130 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.50% 10/1/28 # | &nbsp;&nbsp;&nbsp;&nbsp;620000 | &nbsp;&nbsp; 483328 |

---

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Principalamount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** |
| &nbsp;&nbsp;Communications (continued) | &nbsp;&nbsp;Communications (continued) | &nbsp;&nbsp;Communications (continued) | &nbsp;&nbsp;Communications (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CSC Holdings |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.00% 11/15/31 # |  | &nbsp;&nbsp;&nbsp;&nbsp;254000 | $142240 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.375% 2/1/28 # |  | &nbsp;&nbsp;&nbsp;&nbsp;285000 | &nbsp;&nbsp; 230232 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.75% 1/15/30 # |  | &nbsp;&nbsp;&nbsp;&nbsp;202000 | &nbsp;&nbsp; 114371 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cumulus Media New Holdings 144A 6.75% 7/1/26 # |  | &nbsp;&nbsp;&nbsp;&nbsp;420000 | &nbsp;&nbsp; 353464 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Digicel International Finance |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 8.00% 12/31/26 # |  | &nbsp;&nbsp;&nbsp;&nbsp;142981 | &nbsp;&nbsp; 63220 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 8.75% 5/25/24 # |  | &nbsp;&nbsp;&nbsp;&nbsp;411000 | &nbsp;&nbsp; 354109 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Directv Financing 144A 5.875% 8/15/27 # |  | &nbsp;&nbsp;&nbsp;&nbsp;338000 | &nbsp;&nbsp; 303037 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Frontier Communications<br> Holdings |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.00% 5/1/28 # |  | &nbsp;&nbsp;&nbsp;&nbsp;186000 | &nbsp;&nbsp; 162566 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.875% 10/15/27 # |  | &nbsp;&nbsp;&nbsp;&nbsp;359000 | &nbsp;&nbsp; 334146 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.875% 11/1/29 |  | &nbsp;&nbsp;&nbsp;&nbsp;310847 | &nbsp;&nbsp; 240899 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.00% 1/15/30 # |  | &nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp; 157375 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.75% 5/1/29 # |  | &nbsp;&nbsp;&nbsp;&nbsp;174000 | &nbsp;&nbsp; 144182 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gray Escrow II 144A 5.375% 11/15/31 # |  | &nbsp;&nbsp;&nbsp;&nbsp;35000 | &nbsp;&nbsp; 25285 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gray Television 144A 4.75% 10/15/30 # |  | &nbsp;&nbsp;&nbsp;&nbsp;165000 | &nbsp;&nbsp; 119625 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ligado Networks 144A PIK 15.50% 11/1/23 #, >> |  | 1027404 | &nbsp;&nbsp; 335036 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Matterhorn Telecom 3.125% 9/15/26 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;69000 | &nbsp;&nbsp; 67118 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sirius XM Radio 144A 4.125% 7/1/30 # |  | &nbsp;&nbsp;&nbsp;&nbsp;815000 | &nbsp;&nbsp; 674384 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stagwell Global 144A 5.625% 8/15/29 # |  | &nbsp;&nbsp;&nbsp;&nbsp;444000 | &nbsp;&nbsp; 366946 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Telesat Canada |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.625% 12/6/26 # |  | &nbsp;&nbsp;&nbsp;&nbsp;678000 | &nbsp;&nbsp; 312743 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.50% 10/15/27 # |  | &nbsp;&nbsp;&nbsp;&nbsp;118000 | &nbsp;&nbsp; 34318 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;T-Mobile USA 3.50% 4/15/31 |  | &nbsp;&nbsp;&nbsp;&nbsp;64000 | &nbsp;&nbsp; 55406 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Verizon Communications 3.875% 3/1/52 |  | &nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp; 57246 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;VTR Comunicaciones 144A 4.375% 4/15/29 # |  | &nbsp;&nbsp;&nbsp;&nbsp;346000 | &nbsp;&nbsp; 203156 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Warnermedia Holdings 144A 5.141% 3/15/52 # |  | &nbsp;&nbsp;&nbsp;&nbsp;90000 | &nbsp;&nbsp; 65774 |
|  |  |  | &nbsp;&nbsp; 8667779 |
| &nbsp;&nbsp;Consumer Cyclical — 4.41% | &nbsp;&nbsp;Consumer Cyclical — 4.41% | &nbsp;&nbsp;Consumer Cyclical — 4.41% | &nbsp;&nbsp;Consumer Cyclical — 4.41% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Allison Transmission 144A 5.875% 6/1/29 # |  | &nbsp;&nbsp;&nbsp;&nbsp;440000 | &nbsp;&nbsp; 413985 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amazon.com |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50% 6/3/50 \* |  | &nbsp;&nbsp;&nbsp;&nbsp;105000 | &nbsp;&nbsp; 66652 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.60% 4/13/32 \* |  | &nbsp;&nbsp;&nbsp;&nbsp;85000 | &nbsp;&nbsp; 78037 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Arches Buyer 144A 6.125% 12/1/28 # |  | &nbsp;&nbsp;&nbsp;&nbsp;409000 | &nbsp;&nbsp; 328772 |

---

2 NQ-IV930 [12/22] 2/23 (2747686)

------

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principalamount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** |
| &nbsp;&nbsp;Consumer Cyclical (continued) | &nbsp;&nbsp;Consumer Cyclical (continued) | &nbsp;&nbsp;Consumer Cyclical (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asbury Automotive Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50% 3/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;344830 | $304024 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 4.625% 11/15/29 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8000 | &nbsp;&nbsp; 6750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75% 3/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;345830 | &nbsp;&nbsp; 289701 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.00% 2/15/32 # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8000 | &nbsp;&nbsp; 6592 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Boyd Gaming |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75% 12/1/27 \* | &nbsp;&nbsp;&nbsp;&nbsp;680000 | &nbsp;&nbsp; 634331 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 4.75% 6/15/31 #, \* | &nbsp;&nbsp;&nbsp;&nbsp;15000 | &nbsp;&nbsp; 13068 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Carnival |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.75% 3/1/27 # | &nbsp;&nbsp;&nbsp;&nbsp;266000 | &nbsp;&nbsp; 190395 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.625% 3/1/26 #, \* | &nbsp;&nbsp;&nbsp;&nbsp;976000 | &nbsp;&nbsp; 775300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ford Motor 4.75% 1/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;210000 | &nbsp;&nbsp; 151210 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lithia Motors |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 3.875% 6/1/29 #, \* | &nbsp;&nbsp;&nbsp;&nbsp;199000 | &nbsp;&nbsp; 163887 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 4.375% 1/15/31 # | &nbsp;&nbsp;&nbsp;&nbsp;149000 | &nbsp;&nbsp; 121492 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 4.625% 12/15/27 # | &nbsp;&nbsp;&nbsp;&nbsp;15000 | &nbsp;&nbsp; 13555 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;LSF9 Atlantis Holdings 144A 7.75% 2/15/26 # | &nbsp;&nbsp;&nbsp;&nbsp;526000 | &nbsp;&nbsp; 466199 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Michaels |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.25% 5/1/28 # | &nbsp;&nbsp;&nbsp;&nbsp;298000 | &nbsp;&nbsp; 240109 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.875% 5/1/29 # | &nbsp;&nbsp;&nbsp;&nbsp;722000 | &nbsp;&nbsp; 483703 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PetSmart 144A 7.75% 2/15/29 # | &nbsp;&nbsp;&nbsp;&nbsp;650000 | &nbsp;&nbsp; 611694 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Royal Caribbean Cruises 144A 5.50% 4/1/28 # | &nbsp;&nbsp;&nbsp;&nbsp;339000 | &nbsp;&nbsp; 271139 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Staples |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.50% 4/15/26 # | &nbsp;&nbsp;&nbsp;&nbsp;59000 | &nbsp;&nbsp; 50902 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 10.75% 4/15/27 # | &nbsp;&nbsp;&nbsp;&nbsp;947000 | &nbsp;&nbsp; 683431 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;VICI Properties 4.95% 2/15/30 \* | &nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp; 71495 |
|  |  | &nbsp;&nbsp; 6436423 |
| &nbsp;&nbsp;Consumer Non-Cyclical — 2.37% | &nbsp;&nbsp;Consumer Non-Cyclical — 2.37% | &nbsp;&nbsp;Consumer Non-Cyclical — 2.37% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Greetings 144A 8.75% 4/15/25 # | &nbsp;&nbsp;&nbsp;&nbsp;119000 | &nbsp;&nbsp; 114509 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CVS Health 2.70% 8/21/40 | &nbsp;&nbsp;&nbsp;&nbsp;170000 | &nbsp;&nbsp; 118083 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Encompass Health 4.625% 4/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;151000 | &nbsp;&nbsp; 130029 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Endo Luxembourg Finance I 144A 6.125% 4/1/29 #, ‡ | &nbsp;&nbsp;&nbsp;&nbsp;38000 | &nbsp;&nbsp; 28898 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Grifols Escrow Issuer 144A 4.75% 10/15/28 #, \* | &nbsp;&nbsp;&nbsp;&nbsp;133000 | &nbsp;&nbsp; 114998 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hadrian Merger Sub 144A 8.50% 5/1/26 # | &nbsp;&nbsp;&nbsp;&nbsp;347000 | &nbsp;&nbsp; 307166 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;JBS USA LUX 144A 3.00% 2/2/29 # | &nbsp;&nbsp;&nbsp;&nbsp;120000 | &nbsp;&nbsp; 99578 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kronos Acquisition Holdings 144A 5.00% 12/31/26 # | &nbsp;&nbsp;&nbsp;&nbsp;270000 | &nbsp;&nbsp; 233888 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MajorDrive Holdings IV 144A 6.375% 6/1/29 # | &nbsp;&nbsp;&nbsp;&nbsp;669000 | &nbsp;&nbsp; 500072 |

---

---

| | | |
|:---|:---|:---|
|  | **Principalamount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** |
| &nbsp;&nbsp;Consumer Non-Cyclical (continued) | &nbsp;&nbsp;Consumer Non-Cyclical (continued) | &nbsp;&nbsp;Consumer Non-Cyclical (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Medline Borrower |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 2.403% 10/1/29 # | &nbsp;&nbsp;&nbsp;&nbsp;89000 | $70849 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 3.875% 4/1/29 # | &nbsp;&nbsp;&nbsp;&nbsp;504000 | &nbsp;&nbsp; 407103 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ModivCare Escrow Issuer 144A 5.00% 10/1/29 # | &nbsp;&nbsp;&nbsp;&nbsp;478000 | &nbsp;&nbsp; 403719 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Par Pharmaceutical 144A 7.50% 4/1/27 #, ‡ | &nbsp;&nbsp;&nbsp;&nbsp;454000 | &nbsp;&nbsp; 345993 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pilgrim's Pride 144A 4.25% 4/15/31 # | &nbsp;&nbsp;&nbsp;&nbsp;406000 | &nbsp;&nbsp; 345912 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;US Renal Care 144A 10.625% 7/15/27 # | &nbsp;&nbsp;&nbsp;&nbsp;986000 | &nbsp;&nbsp; 216920 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Zoetis 5.40% 11/14/25 \* | &nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp; 25527 |
|  |  | &nbsp;&nbsp; 3463244 |
| &nbsp;&nbsp;Electric — 1.89% | &nbsp;&nbsp;Electric — 1.89% | &nbsp;&nbsp;Electric — 1.89% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Berkshire Hathaway Energy 2.85% 5/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp; 39558 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Calpine |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.00% 2/1/31 #, \* | &nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp; 210127 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.125% 3/15/28 #, \* | &nbsp;&nbsp;&nbsp;&nbsp;710000 | &nbsp;&nbsp; 634973 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Eversource Energy 2.90% 3/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;70000 | &nbsp;&nbsp; 64552 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fells Point Funding Trust 144A 3.046% 1/31/27 # | &nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp; 91152 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indianapolis Power & Light 144A 5.65% 12/1/32 # | &nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp; 61727 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nevada Power 5.90% 5/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;95000 | &nbsp;&nbsp; 101862 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NextEra Energy Capital Holdings 3.00% 1/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp; 26296 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PG&E 5.25% 7/1/30 \* | &nbsp;&nbsp;&nbsp;&nbsp;285000 | &nbsp;&nbsp; 259788 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Southern 5.70% 10/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;45000 | &nbsp;&nbsp; 46172 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TerraForm Power Operating 144A 5.00% 1/31/28 # | &nbsp;&nbsp;&nbsp;&nbsp;106000 | &nbsp;&nbsp; 95581 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vistra 144A 7.00% 12/15/26 #, μ, ψ | &nbsp;&nbsp;&nbsp;&nbsp;855000 | &nbsp;&nbsp; 779228 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vistra Operations |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 4.30% 7/15/29 # | &nbsp;&nbsp;&nbsp;&nbsp;109000 | &nbsp;&nbsp; 98297 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 4.375% 5/1/29 #, \* | &nbsp;&nbsp;&nbsp;&nbsp;163000 | &nbsp;&nbsp; 140772 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.00% 7/31/27 # | &nbsp;&nbsp;&nbsp;&nbsp;117000 | &nbsp;&nbsp; 108844 |
|  |  | &nbsp;&nbsp; 2758929 |
| &nbsp;&nbsp;Energy — 5.31% | &nbsp;&nbsp;Energy — 5.31% | &nbsp;&nbsp;Energy — 5.31% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ascent Resources Utica<br> Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.875% 6/30/29 # | &nbsp;&nbsp;&nbsp;&nbsp;174000 | &nbsp;&nbsp; 155370 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.00% 11/1/26 # | &nbsp;&nbsp;&nbsp;&nbsp;214000 | &nbsp;&nbsp; 207916 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bellatrix Exploration |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.50% 9/11/23 = | &nbsp;&nbsp;&nbsp;&nbsp;177000 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.50% 12/15/23 = | &nbsp;&nbsp;&nbsp;&nbsp;193000 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Callon Petroleum |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.50% 6/15/30 #, \* | &nbsp;&nbsp;&nbsp;&nbsp;145000 | &nbsp;&nbsp; 132863 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 8.00% 8/1/28 #, \* | &nbsp;&nbsp;&nbsp;&nbsp;465000 | &nbsp;&nbsp; 443879 |

---

NQ-IV930 [12/22] 2/23 (2747686) 3

------

Delaware Ivy Multi-Asset Income Fund (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principalamount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** |
| &nbsp;&nbsp;Energy (continued) | &nbsp;&nbsp;Energy (continued) | &nbsp;&nbsp;Energy (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CNX Midstream Partners 144A 4.75% 4/15/30 # | &nbsp;&nbsp;&nbsp;&nbsp;40000 | $32879 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CNX Resources 144A 6.00% 1/15/29 # | &nbsp;&nbsp;&nbsp;&nbsp;540000 | &nbsp;&nbsp; 497680 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Crestwood Midstream<br> Partners |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.625% 5/1/27 # | &nbsp;&nbsp;&nbsp;&nbsp;172000 | &nbsp;&nbsp; 160256 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.00% 2/1/29 # | &nbsp;&nbsp;&nbsp;&nbsp;36000 | &nbsp;&nbsp; 33082 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Energy Transfer 6.50% 11/15/26 μ, ψ | &nbsp;&nbsp;&nbsp;&nbsp;262000 | &nbsp;&nbsp; 225975 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ferrellgas 144A 5.375% 4/1/26 # | &nbsp;&nbsp;&nbsp;&nbsp;160000 | &nbsp;&nbsp; 145743 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Genesis Energy |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.75% 2/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp; 276618 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.00% 1/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;519000 | &nbsp;&nbsp; 490881 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hilcorp Energy I |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.00% 2/1/31 # | &nbsp;&nbsp;&nbsp;&nbsp;225000 | &nbsp;&nbsp; 194919 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.25% 4/15/32 # | &nbsp;&nbsp;&nbsp;&nbsp;520000 | &nbsp;&nbsp; 449481 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Laredo Petroleum 10.125% 1/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;440000 | &nbsp;&nbsp; 429763 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mesquite Energy 7.25% 2/15/23 ‡ | &nbsp;&nbsp;&nbsp;&nbsp;111000 | &nbsp;&nbsp; 1804 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Moss Creek Resources Holdings 144A 7.50% 1/15/26 # | &nbsp;&nbsp;&nbsp;&nbsp;246000 | &nbsp;&nbsp; 222177 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Murphy Oil 6.375% 7/15/28 \* | &nbsp;&nbsp;&nbsp;&nbsp;885000 | &nbsp;&nbsp; 853122 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NuStar Logistics |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00% 6/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;441000 | &nbsp;&nbsp; 425401 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.375% 10/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;445000 | &nbsp;&nbsp; 412266 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Occidental Petroleum |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.45% 9/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp; 204451 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.625% 9/1/30 | &nbsp;&nbsp;&nbsp;&nbsp;245000 | &nbsp;&nbsp; 253731 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Southwestern Energy 5.375% 3/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;870000 | &nbsp;&nbsp; 795131 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;USA Compression Partners |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.875% 4/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp; 48045 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.875% 9/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;285000 | &nbsp;&nbsp; 266932 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Valero Energy 3.65% 12/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;180000 | &nbsp;&nbsp; 127903 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Weatherford International 144A 8.625% 4/30/30 # | &nbsp;&nbsp;&nbsp;&nbsp;275000 | &nbsp;&nbsp; 264576 |
|  |  | &nbsp;&nbsp; 7752844 |
| &nbsp;&nbsp;Finance Companies — 0.31% | &nbsp;&nbsp;Finance Companies — 0.31% | &nbsp;&nbsp;Finance Companies — 0.31% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Air Lease |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.875% 1/15/32 \* | &nbsp;&nbsp;&nbsp;&nbsp;35000 | &nbsp;&nbsp; 27894 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.65% 6/15/26 \*, μ, ψ | &nbsp;&nbsp;&nbsp;&nbsp;183000 | &nbsp;&nbsp; 153394 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aviation Capital Group 144A 3.50% 11/1/27 # | &nbsp;&nbsp;&nbsp;&nbsp;105000 | &nbsp;&nbsp; 91876 |

---

---

| | | |
|:---|:---|:---|
|  | **Principalamount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** |
| &nbsp;&nbsp;Finance Companies (continued) | &nbsp;&nbsp;Finance Companies (continued) | &nbsp;&nbsp;Finance Companies (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Midcap Financial Issuer Trust 144A 6.50% 5/1/28 # | &nbsp;&nbsp;&nbsp;&nbsp;210000 | $180908 |
|  |  | &nbsp;&nbsp; 454072 |
| &nbsp;&nbsp;Financial Services — 0.31% | &nbsp;&nbsp;Financial Services — 0.31% | &nbsp;&nbsp;Financial Services — 0.31% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Highlands Holdings Bond Issuer 144A PIK 7.625% 10/15/25 #, > | &nbsp;&nbsp;&nbsp;&nbsp;475095 | &nbsp;&nbsp; 444515 |
|  |  | &nbsp;&nbsp; 444515 |
| &nbsp;&nbsp;Industrials — 0.38% | &nbsp;&nbsp;Industrials — 0.38% | &nbsp;&nbsp;Industrials — 0.38% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adtalem Global Education 144A 5.50% 3/1/28 # | &nbsp;&nbsp;&nbsp;&nbsp;548000 | &nbsp;&nbsp; 497979 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Booz Allen Hamilton 144A 3.875% 9/1/28 # | &nbsp;&nbsp;&nbsp;&nbsp;67000 | &nbsp;&nbsp; 59478 |
|  |  | &nbsp;&nbsp; 557457 |
| &nbsp;&nbsp;Insurance — 1.26% | &nbsp;&nbsp;Insurance — 1.26% | &nbsp;&nbsp;Insurance — 1.26% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ardonagh Midco 2 144A PIK 11.50% 1/15/27 #, >> | 1047743 | &nbsp;&nbsp; 1000595 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Berkshire Hathaway Finance 3.85% 3/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;205000 | &nbsp;&nbsp; 164485 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;HUB International 144A 5.625% 12/1/29 # | &nbsp;&nbsp;&nbsp;&nbsp;530000 | &nbsp;&nbsp; 463582 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Jones Deslauriers Insurance Management 144A 10.50% 12/15/30 # | &nbsp;&nbsp;&nbsp;&nbsp;215000 | &nbsp;&nbsp; 212023 |
|  |  | &nbsp;&nbsp; 1840685 |
| &nbsp;&nbsp;Natural Gas — 0.16% | &nbsp;&nbsp;Natural Gas — 0.16% | &nbsp;&nbsp;Natural Gas — 0.16% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Atmos Energy |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.85% 2/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;45000 | &nbsp;&nbsp; 29327 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75% 10/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp; 84010 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Southern Co. Gas Capital 5.15% 9/15/32 \* | &nbsp;&nbsp;&nbsp;&nbsp;115000 | &nbsp;&nbsp; 113220 |
|  |  | &nbsp;&nbsp; 226557 |
| &nbsp;&nbsp;Real Estate Investment Trusts — 0.07% | &nbsp;&nbsp;Real Estate Investment Trusts — 0.07% | &nbsp;&nbsp;Real Estate Investment Trusts — 0.07% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Homes 4 Rent 3.625% 4/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;45000 | &nbsp;&nbsp; 37973 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;HAT Holdings I 144A 3.375% 6/15/26 # | &nbsp;&nbsp;&nbsp;&nbsp;73000 | &nbsp;&nbsp; 63524 |
|  |  | &nbsp;&nbsp; 101497 |
| &nbsp;&nbsp;Technology — 3.21% | &nbsp;&nbsp;Technology — 3.21% | &nbsp;&nbsp;Technology — 3.21% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Autodesk 2.40% 12/15/31 \* | &nbsp;&nbsp;&nbsp;&nbsp;35000 | &nbsp;&nbsp; 28050 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CDW |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.276% 12/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;45000 | &nbsp;&nbsp; 38612 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.569% 12/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;470000 | &nbsp;&nbsp; 388178 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consensus Cloud Solutions |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.00% 10/15/26 # | &nbsp;&nbsp;&nbsp;&nbsp;85000 | &nbsp;&nbsp; 79858 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.50% 10/15/28 # | &nbsp;&nbsp;&nbsp;&nbsp;203000 | &nbsp;&nbsp; 186977 |

---

4 NQ-IV930 [12/22] 2/23 (2747686)

------

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principalamount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** |
| &nbsp;&nbsp;Technology (continued) | &nbsp;&nbsp;Technology (continued) | &nbsp;&nbsp;Technology (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Entegris Escrow |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 4.75% 4/15/29 # | &nbsp;&nbsp;&nbsp;&nbsp;239000 | $218435 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.95% 6/15/30 # | &nbsp;&nbsp;&nbsp;&nbsp;525000 | &nbsp;&nbsp; 484838 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Iron Mountain 144A 5.25% 7/15/30 # | 1150000 | &nbsp;&nbsp; 1042932 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NCR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.00% 10/1/28 # | &nbsp;&nbsp;&nbsp;&nbsp;318000 | &nbsp;&nbsp; 271624 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.125% 4/15/29 # | &nbsp;&nbsp;&nbsp;&nbsp;475000 | &nbsp;&nbsp; 398101 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.25% 10/1/30 # | &nbsp;&nbsp;&nbsp;&nbsp;106000 | &nbsp;&nbsp; 87623 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.125% 9/1/29 # | &nbsp;&nbsp;&nbsp;&nbsp;144000 | &nbsp;&nbsp; 134879 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oracle |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.80% 11/10/25 \* | &nbsp;&nbsp;&nbsp;&nbsp;15000 | &nbsp;&nbsp; 15352 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.15% 11/9/29 | &nbsp;&nbsp;&nbsp;&nbsp;35000 | &nbsp;&nbsp; 36412 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sabre GLBL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.375% 9/1/25 # | &nbsp;&nbsp;&nbsp;&nbsp;42000 | &nbsp;&nbsp; 40433 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 9.25% 4/15/25 # | &nbsp;&nbsp;&nbsp;&nbsp;103000 | &nbsp;&nbsp; 102781 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sensata Technologies 144A 4.00% 4/15/29 # | &nbsp;&nbsp;&nbsp;&nbsp;360000 | &nbsp;&nbsp; 310986 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SS&C Technologies 144A 5.50% 9/30/27 # | &nbsp;&nbsp;&nbsp;&nbsp;875000 | &nbsp;&nbsp; 821123 |
|  |  | &nbsp;&nbsp; 4687194 |
| &nbsp;&nbsp;Transportation — 0.34% | &nbsp;&nbsp;Transportation — 0.34% | &nbsp;&nbsp;Transportation — 0.34% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Airlines 144A 5.75% 4/20/29 # | &nbsp;&nbsp;&nbsp;&nbsp;213142 | &nbsp;&nbsp; 195187 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe 2.875% 6/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;55000 | &nbsp;&nbsp; 36932 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Grupo Aeromexico 144A 8.50% 3/17/27 # | &nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp; 265347 |
|  |  | &nbsp;&nbsp; 497466 |
| &nbsp;&nbsp;&nbsp;**Total Corporate Bonds<br> (cost $54,775,622)** | &nbsp;&nbsp;&nbsp;**Total Corporate Bonds<br> (cost $54,775,622)** | &nbsp;&nbsp; **46961057** |
| &nbsp;&nbsp;**Municipal Bonds — 0.01%** | &nbsp;&nbsp;**Municipal Bonds — 0.01%** | &nbsp;&nbsp;**Municipal Bonds — 0.01%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commonwealth of Puerto<br> Rico<br> (Restructured) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A-1 3.045% 7/1/24^ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4490 | &nbsp;&nbsp; 4163 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A-1 4.00% 7/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9800 | &nbsp;&nbsp; 8271 |
| &nbsp;&nbsp;&nbsp;**Total Municipal Bonds<br> (cost $14,190)** | &nbsp;&nbsp;&nbsp;**Total Municipal Bonds<br> (cost $14,190)** | &nbsp;&nbsp; **12434** |
| &nbsp;&nbsp;**Non-Agency Commercial Mortgage-Backed Securities — 0.53%** | &nbsp;&nbsp;**Non-Agency Commercial Mortgage-Backed Securities — 0.53%** | &nbsp;&nbsp;**Non-Agency Commercial Mortgage-Backed Securities — 0.53%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BANK |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-BN26 A4 2.403% 3/15/63 | &nbsp;&nbsp;&nbsp;&nbsp;220000 | &nbsp;&nbsp; 183819 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-BN32 A5 2.643% 4/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp; 208565 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-B17 A5 2.289% 3/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;225000 | &nbsp;&nbsp; 187098 |

---

---

| | | |
|:---|:---|:---|
|  | **Principalamount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Non-Agency Commercial Mortgage-Backed<br> Securities (continued)** | &nbsp;&nbsp;**Non-Agency Commercial Mortgage-Backed<br> Securities (continued)** | &nbsp;&nbsp;**Non-Agency Commercial Mortgage-Backed<br> Securities (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-B33 A5 3.458% 3/15/55 | &nbsp;&nbsp;&nbsp;&nbsp;225000 | $199069 |
| &nbsp;&nbsp;&nbsp;**Total Non-Agency Commercial Mortgage-Backed Securities<br> (cost $804,667)** | &nbsp;&nbsp;&nbsp;**Total Non-Agency Commercial Mortgage-Backed Securities<br> (cost $804,667)** | &nbsp;&nbsp; **778551** |
| &nbsp;&nbsp;**Loan Agreements — 3.77%** | &nbsp;&nbsp;**Loan Agreements — 3.77%** | &nbsp;&nbsp;**Loan Agreements — 3.77%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amynta Agency Borrower Tranche B 1st Lien 8.884% (LIBOR01M + 4.50%) 2/28/25 • | &nbsp;&nbsp;&nbsp;&nbsp;987545 | &nbsp;&nbsp; 938168 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Applied Systems 2nd Lien 11.33% (SOFR3M + 6.75%) 9/17/27 • | &nbsp;&nbsp;&nbsp;&nbsp;454649 | &nbsp;&nbsp; 453513 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ascent Resources Utica Holdings 2nd Lien 12.941% (LIBOR03M + 9.00%) 11/1/25 • | &nbsp;&nbsp;&nbsp;&nbsp;133000 | &nbsp;&nbsp; 140869 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CNT Holdings I 2nd Lien 10.489% (SOFR03M + 6.75%) 11/6/28 • | &nbsp;&nbsp;&nbsp;&nbsp;243000 | &nbsp;&nbsp; 230445 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CP Atlas Buyer Tranche B 7.884% (LIBOR01M + 3.50%) 11/23/27 • | &nbsp;&nbsp;&nbsp;&nbsp;555298 | &nbsp;&nbsp; 488315 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Endo Luxembourg Finance I 13.50% (LIBOR03M + 6.00%) 3/27/28 • | &nbsp;&nbsp;&nbsp;&nbsp;246875 | &nbsp;&nbsp; 201203 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foresight Energy Operating Tranche A 12.73% (LIBOR03M + 8.00%) 6/30/27 • | &nbsp;&nbsp;&nbsp;&nbsp;212307 | &nbsp;&nbsp; 210183 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Form Technologies Tranche B 9.199% (SOFR03M + 4.50%) 7/22/25 • | 1321828 | &nbsp;&nbsp; 1152194 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Jones DesLauriers Insurance<br> Management 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.813% (CDOR03M + 4.25%) 3/27/28 • | &nbsp;&nbsp;&nbsp;&nbsp;550385 | &nbsp;&nbsp; 378034 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.813% (CDOR03M + 4.25%) 3/27/28 • | &nbsp;&nbsp;&nbsp;&nbsp;125360 | &nbsp;&nbsp; 86104 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MLN US HoldCo 1st Lien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.154% (SOFR03M + 6.70%) 10/18/27 • | &nbsp;&nbsp;&nbsp;&nbsp;871480 | &nbsp;&nbsp; 705899 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.704% (SOFR03M + 9.25%)Tranche B 10/18/27 • | &nbsp;&nbsp;&nbsp;&nbsp;376000 | &nbsp;&nbsp; 291400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Swf Holdings I 8.753% (LIBOR03M + 4.00%) 10/6/28 • | &nbsp;&nbsp;&nbsp;&nbsp;167733 | &nbsp;&nbsp; 137876 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United PF Holdings 1st Lien 13.23% (LIBOR03M + 8.50%) 12/30/26 • | &nbsp;&nbsp;&nbsp;&nbsp;95743 | &nbsp;&nbsp; 86169 |

---

NQ-IV930 [12/22] 2/23 (2747686) 5

------

Delaware Ivy Multi-Asset Income Fund (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principalamount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Loan Agreements (continued)** | &nbsp;&nbsp;**Loan Agreements (continued)** | &nbsp;&nbsp;**Loan Agreements (continued)** |
| &nbsp;&nbsp;&nbsp;**Total Loan Agreements<br> (cost $6,072,329)** | &nbsp;&nbsp;&nbsp;**Total Loan Agreements<br> (cost $6,072,329)** | &nbsp;&nbsp; **5500372** |
| &nbsp;&nbsp;**US Treasury Obligations — 3.74%** | &nbsp;&nbsp;**US Treasury Obligations — 3.74%** | &nbsp;&nbsp;**US Treasury Obligations — 3.74%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;US Treasury Bond<br> 4.00% 11/15/52 | &nbsp;&nbsp;&nbsp;&nbsp;225000 | $225387 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;US Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.125% 4/30/23 | 2175900 | &nbsp;&nbsp; 2146015 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.875% 11/30/29 | &nbsp;&nbsp;&nbsp;&nbsp;675000 | &nbsp;&nbsp; 670623 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.125% 10/31/27 | &nbsp;&nbsp;&nbsp;&nbsp;860000 | &nbsp;&nbsp; 863225 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.125% 11/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;910000 | &nbsp;&nbsp; 928840 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25% 10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;605000 | &nbsp;&nbsp; 604622 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50% 11/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;15000 | &nbsp;&nbsp; 15093 |
| &nbsp;&nbsp;&nbsp;**Total US Treasury Obligations<br> (cost $5,524,026)** | &nbsp;&nbsp;&nbsp;**Total US Treasury Obligations<br> (cost $5,524,026)** | &nbsp;&nbsp; **5453805** |

---

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** |  |
| &nbsp;&nbsp;**Common Stocks — 49.19%** | &nbsp;&nbsp;**Common Stocks — 49.19%** | &nbsp;&nbsp;**Common Stocks — 49.19%** |
| &nbsp;&nbsp;Basic Industry — 1.23% | &nbsp;&nbsp;Basic Industry — 1.23% | &nbsp;&nbsp;Basic Industry — 1.23% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Air Liquide | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9180 | &nbsp;&nbsp;&nbsp;&nbsp;1301059 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foresight Energy = | &nbsp;&nbsp;&nbsp;&nbsp;31163 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;478978 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Westmoreland Coal =, † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7276 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12661 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;1792698 |
| &nbsp;&nbsp;Capital Goods — 0.53% | &nbsp;&nbsp;Capital Goods — 0.53% | &nbsp;&nbsp;Capital Goods — 0.53% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Otis Worldwide | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375888 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Parker-Hannifin | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;392850 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;768738 |
| &nbsp;&nbsp;Communications — 0.52% | &nbsp;&nbsp;Communications — 0.52% | &nbsp;&nbsp;Communications — 0.52% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Orange | &nbsp;&nbsp;&nbsp;&nbsp;76228 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;757313 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;757313 |
| &nbsp;&nbsp;Consumer Cyclical — 3.40% | &nbsp;&nbsp;Consumer Cyclical — 3.40% | &nbsp;&nbsp;Consumer Cyclical — 3.40% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;adidas AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7070 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;964628 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;H & M Hennes & Mauritz Class B \* | &nbsp;&nbsp;&nbsp;&nbsp;61720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;663876 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Knorr-Bremse | &nbsp;&nbsp;&nbsp;&nbsp;11270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;615745 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Securitas Class B | &nbsp;&nbsp;&nbsp;&nbsp;128340 | &nbsp;&nbsp;&nbsp;&nbsp;1069536 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sodexo \* | &nbsp;&nbsp;&nbsp;&nbsp;10920 | &nbsp;&nbsp;&nbsp;&nbsp;1045960 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Studio City International Holdings ADR † | &nbsp;&nbsp;&nbsp;&nbsp;35484 | 211485 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Studio City International Holdings ADR † | &nbsp;&nbsp;&nbsp;&nbsp;60131 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;358381 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;True Religion Apparel =, † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33570 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;4963181 |
| &nbsp;&nbsp;Consumer Non-Cyclical — 15.82% | &nbsp;&nbsp;Consumer Non-Cyclical — 15.82% | &nbsp;&nbsp;Consumer Non-Cyclical — 15.82% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asahi Group Holdings | &nbsp;&nbsp;&nbsp;&nbsp;11400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;357792 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Clorox | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9440 | &nbsp;&nbsp;&nbsp;&nbsp;1324715 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Conagra Brands | &nbsp;&nbsp;&nbsp;&nbsp;11710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;453177 |

---

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | **Value (US $)** |
| &nbsp;&nbsp;**Common Stocks (continued)** | &nbsp;&nbsp;**Common Stocks (continued)** | &nbsp;&nbsp;**Common Stocks (continued)** |
| &nbsp;&nbsp;Consumer Non-Cyclical (continued) | &nbsp;&nbsp;Consumer Non-Cyclical (continued) | &nbsp;&nbsp;Consumer Non-Cyclical (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Danone | &nbsp;&nbsp;&nbsp;&nbsp;19380 | $1021292 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diageo | &nbsp;&nbsp;&nbsp;&nbsp;32770 | &nbsp;&nbsp; 1446031 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Essity Class B | &nbsp;&nbsp;&nbsp;&nbsp;39740 | &nbsp;&nbsp; 1040834 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fresenius Medical Care AG & Co. | &nbsp;&nbsp;&nbsp;&nbsp;17670 | &nbsp;&nbsp; 578227 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Henry Schein † | &nbsp;&nbsp;&nbsp;&nbsp;18040 | &nbsp;&nbsp; 1440855 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ingredion | &nbsp;&nbsp;&nbsp;&nbsp;11210 | &nbsp;&nbsp; 1097795 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kao \* | &nbsp;&nbsp;&nbsp;&nbsp;21300 | &nbsp;&nbsp; 852876 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kimberly-Clark | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9480 | &nbsp;&nbsp; 1286910 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Koninklijke Ahold Delhaize | &nbsp;&nbsp;&nbsp;&nbsp;60240 | &nbsp;&nbsp; 1730748 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lamb Weston Holdings | &nbsp;&nbsp;&nbsp;&nbsp;10930 | &nbsp;&nbsp; 976705 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Merck & Co. | &nbsp;&nbsp;&nbsp;&nbsp;12690 | &nbsp;&nbsp; 1407955 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nestle | &nbsp;&nbsp;&nbsp;&nbsp;14640 | &nbsp;&nbsp; 1696350 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Novo Nordisk Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7120 | &nbsp;&nbsp; 961387 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pfizer | &nbsp;&nbsp;&nbsp;&nbsp;16512 | &nbsp;&nbsp; 846075 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Roche Holding | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2670 | &nbsp;&nbsp; 838842 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Smith & Nephew | &nbsp;&nbsp;&nbsp;&nbsp;95280 | &nbsp;&nbsp; 1278019 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Swatch Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3420 | &nbsp;&nbsp; 972757 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unilever | &nbsp;&nbsp;&nbsp;&nbsp;29220 | &nbsp;&nbsp; 1477313 |
|  |  | &nbsp;&nbsp; 23086655 |
| &nbsp;&nbsp;Consumer Staples — 0.57% | &nbsp;&nbsp;Consumer Staples — 0.57% | &nbsp;&nbsp;Consumer Staples — 0.57% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Archer-Daniels-Midland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3980 | &nbsp;&nbsp; 369543 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bunge | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4579 | &nbsp;&nbsp; 456847 |
|  |  | &nbsp;&nbsp; 826390 |
| &nbsp;&nbsp;Energy — 4.09% | &nbsp;&nbsp;Energy — 4.09% | &nbsp;&nbsp;Energy — 4.09% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chesapeake Energy \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3720 | &nbsp;&nbsp; 351056 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chord Energy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1153 | &nbsp;&nbsp; 157742 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Enbridge | &nbsp;&nbsp;&nbsp;&nbsp;12772 | &nbsp;&nbsp; 499183 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EOG Resources | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5524 | &nbsp;&nbsp; 715468 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EQT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3295 | &nbsp;&nbsp;&nbsp; 111470 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KCA Deutag International =, † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7610 | &nbsp;&nbsp; 489577 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kimbell Royalty Partners | &nbsp;&nbsp;&nbsp;&nbsp;35283 | &nbsp;&nbsp; 589226 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Occidental Petroleum | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5627 | &nbsp;&nbsp; 354445 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Parex Resources | &nbsp;&nbsp;&nbsp;&nbsp;23707 | &nbsp;&nbsp; 352804 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Schlumberger | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9724 | &nbsp;&nbsp; 519845 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shell | &nbsp;&nbsp;&nbsp;&nbsp;23447 | &nbsp;&nbsp; 659334 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TC Energy \* | &nbsp;&nbsp;&nbsp;&nbsp;12051 | &nbsp;&nbsp; 480438 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Valero Energy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5426 | &nbsp;&nbsp; 688342 |
|  |  | &nbsp;&nbsp; 5968930 |
| &nbsp;&nbsp;Financial Services — 0.21% | &nbsp;&nbsp;Financial Services — 0.21% | &nbsp;&nbsp;Financial Services — 0.21% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New Cotai =, † | &nbsp;&nbsp;&nbsp;&nbsp;318315 | &nbsp;&nbsp; 293567 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Riverbed Holdings | &nbsp;&nbsp;&nbsp;&nbsp;31305 | &nbsp;&nbsp; 7826 |
|  |  | &nbsp;&nbsp; 301393 |
| &nbsp;&nbsp;Home builders — 0.03% | &nbsp;&nbsp;Home builders — 0.03% | &nbsp;&nbsp;Home builders — 0.03% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lifestyle Communities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3310 | &nbsp;&nbsp; 42976 |
|  |  | &nbsp;&nbsp; 42976 |

---

6 NQ-IV930 [12/22] 2/23 (2747686)

------

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | **Value (US $)** |
| &nbsp;&nbsp;**Common Stocks (continued)** | &nbsp;&nbsp;**Common Stocks (continued)** | &nbsp;&nbsp;**Common Stocks (continued)** |
| &nbsp;&nbsp;Industrials — 4.21% | &nbsp;&nbsp;Industrials — 4.21% | &nbsp;&nbsp;Industrials — 4.21% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aena SME 144A #, † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3706 | $465339 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ALEATICA † | &nbsp;&nbsp;&nbsp;&nbsp;582694 | &nbsp;&nbsp; 1028345 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Atlas Arteria | &nbsp;&nbsp;&nbsp;&nbsp;87494 | &nbsp;&nbsp; 393760 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CCR | &nbsp;&nbsp;&nbsp;&nbsp;232455 | &nbsp;&nbsp; 476379 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;East Japan Railway | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8900 | &nbsp;&nbsp; 509967 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Enav 144A # | &nbsp;&nbsp;&nbsp;&nbsp;119129 | &nbsp;&nbsp; 504986 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Intertek Group | &nbsp;&nbsp;&nbsp;&nbsp;14689 | &nbsp;&nbsp; 716369 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Laureate Education | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5687 | &nbsp;&nbsp; 54709 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Makita | &nbsp;&nbsp;&nbsp;&nbsp;23200 | &nbsp;&nbsp; 544468 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sacyr | &nbsp;&nbsp;&nbsp;&nbsp;177769 | &nbsp;&nbsp; 494761 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Transurban Group | &nbsp;&nbsp;&nbsp;&nbsp;53096 | &nbsp;&nbsp; 469232 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vinci | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4798 | &nbsp;&nbsp; 479139 |
|  |  | &nbsp;&nbsp; 6137454 |
| &nbsp;&nbsp;Materials — 3.73% | &nbsp;&nbsp;Materials — 3.73% | &nbsp;&nbsp;Materials — 3.73% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alcoa | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9119 | &nbsp;&nbsp; 414641 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Anglo American | &nbsp;&nbsp;&nbsp;&nbsp;20400 | &nbsp;&nbsp; 798204 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CF Industries Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3195 | &nbsp;&nbsp; 272214 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corteva | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7192 | &nbsp;&nbsp; 422746 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ERO Copper † | &nbsp;&nbsp;&nbsp;&nbsp;23077 | &nbsp;&nbsp; 317692 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Freeport-McMoRan | &nbsp;&nbsp;&nbsp;&nbsp;11400 | &nbsp;&nbsp; 433200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hudbay Minerals | &nbsp;&nbsp;&nbsp;&nbsp;50407 | &nbsp;&nbsp; 255564 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kinross Gold \* | &nbsp;&nbsp;&nbsp;&nbsp;70405 | &nbsp;&nbsp; 287956 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Newmont | &nbsp;&nbsp;&nbsp;&nbsp;11741 | &nbsp;&nbsp; 554175 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nutrien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8201 | &nbsp;&nbsp; 598919 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pan American Silver | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9325 | &nbsp;&nbsp; 152203 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sylvamo | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2451 | &nbsp;&nbsp; 119094 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vale ADR | &nbsp;&nbsp;&nbsp;&nbsp;27340 | &nbsp;&nbsp; 463960 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vale ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wheaton Precious Metals \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9109 | &nbsp;&nbsp; 355980 |
|  |  | &nbsp;&nbsp; 5446548 |
| &nbsp;&nbsp;Real Estate — 0.85% | &nbsp;&nbsp;Real Estate — 0.85% | &nbsp;&nbsp;Real Estate — 0.85% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Covivio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1160 | &nbsp;&nbsp; 68853 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mitsubishi Estate | &nbsp;&nbsp;&nbsp;&nbsp;22000 | &nbsp;&nbsp; 286818 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mitsui Fudosan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2800 | &nbsp;&nbsp; 51567 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sumitomo Realty & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8700 | &nbsp;&nbsp; 206894 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Weyerhaeuser | &nbsp;&nbsp;&nbsp;&nbsp;20435 | &nbsp;&nbsp; 633485 |
|  |  | &nbsp;&nbsp; 1247617 |
| &nbsp;&nbsp;REIT Diversified — 0.99% | &nbsp;&nbsp;REIT Diversified — 0.99% | &nbsp;&nbsp;REIT Diversified — 0.99% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aroundtown \* | &nbsp;&nbsp;&nbsp;&nbsp;24340 | &nbsp;&nbsp; 56878 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capitaland Investment | &nbsp;&nbsp;&nbsp;&nbsp;39700 | &nbsp;&nbsp; 109668 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Charter Hall Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9250 | &nbsp;&nbsp; 75448 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CK Asset Holdings | &nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp; 123119 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Derwent London | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1670 | &nbsp;&nbsp; 47809 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DigitalBridge Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3600 | &nbsp;&nbsp; 39384 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fastighets Balder Class B † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8630 | &nbsp;&nbsp; 40128 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inmobiliaria Colonial Socimi | &nbsp;&nbsp;&nbsp;&nbsp;10670 | &nbsp;&nbsp; 68644 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Land Securities Group | &nbsp;&nbsp;&nbsp;&nbsp;11020 | &nbsp;&nbsp; 82787 |

---

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | **Value (US $)** |
| &nbsp;&nbsp;**Common Stocks (continued)** | &nbsp;&nbsp;**Common Stocks (continued)** | &nbsp;&nbsp;**Common Stocks (continued)** |
| &nbsp;&nbsp;REIT Diversified (continued) | &nbsp;&nbsp;REIT Diversified (continued) | &nbsp;&nbsp;REIT Diversified (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mapletree Commercial Trust | &nbsp;&nbsp;&nbsp;&nbsp;101200 | $126179 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mapletree Logistics Trust | &nbsp;&nbsp;&nbsp;&nbsp;24100 | &nbsp;&nbsp; 28609 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nomura Real Estate Master Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp; 198720 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shaftesbury | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6970 | &nbsp;&nbsp; 31009 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sun Hung Kai Properties | &nbsp;&nbsp;&nbsp;&nbsp;18000 | &nbsp;&nbsp; 246289 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United Urban Investment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145 | &nbsp;&nbsp; 166390 |
|  |  | &nbsp;&nbsp; 1441061 |
| &nbsp;&nbsp;REIT Healthcare — 0.84% | &nbsp;&nbsp;REIT Healthcare — 0.84% | &nbsp;&nbsp;REIT Healthcare — 0.84% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aedifica | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480 | &nbsp;&nbsp; 38947 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alexandria Real Estate Equities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2880 | &nbsp;&nbsp; 419530 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;HealthCo REIT | &nbsp;&nbsp;&nbsp;&nbsp;38920 | &nbsp;&nbsp; 45843 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Healthpeak Properties | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9360 | &nbsp;&nbsp; 234655 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Welltower | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7400 | &nbsp;&nbsp; 485070 |
|  |  | &nbsp;&nbsp; 1224045 |
| &nbsp;&nbsp;REIT Industrial — 1.27% | &nbsp;&nbsp;REIT Industrial — 1.27% | &nbsp;&nbsp;REIT Industrial — 1.27% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Americold Realty Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5290 | &nbsp;&nbsp; 149760 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;First Industrial Realty Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2590 | &nbsp;&nbsp; 124993 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goodman Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9710 | &nbsp;&nbsp; 114768 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Industrial & Infrastructure Fund Investment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp; 104099 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mitsubishi Estate Logistics REIT Investment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35 | &nbsp;&nbsp; 112542 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prologis | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6487 | &nbsp;&nbsp; 731223 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rexford Industrial Realty | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3110 | &nbsp;&nbsp; 169931 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Segro | &nbsp;&nbsp;&nbsp;&nbsp;12270 | &nbsp;&nbsp; 113271 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Summit Industrial Income REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7160 | &nbsp;&nbsp; 119986 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Warehouses De Pauw CVA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3890 | &nbsp;&nbsp;&nbsp; 111180 |
|  |  | &nbsp;&nbsp; 1851753 |
| &nbsp;&nbsp;REIT Lodging — 0.18% | &nbsp;&nbsp;REIT Lodging — 0.18% | &nbsp;&nbsp;REIT Lodging — 0.18% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Apple Hospitality REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5630 | &nbsp;&nbsp; 88841 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;RLJ Lodging Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1130 | &nbsp;&nbsp; 11967 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ryman Hospitality Properties | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1420 | &nbsp;&nbsp; 116128 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Xenia Hotels & Resorts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3160 | &nbsp;&nbsp; 41649 |
|  |  | &nbsp;&nbsp; 258585 |
| &nbsp;&nbsp;REIT Mall — 0.08% | &nbsp;&nbsp;REIT Mall — 0.08% | &nbsp;&nbsp;REIT Mall — 0.08% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Simon Property Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1060 | &nbsp;&nbsp; 124529 |
|  |  | &nbsp;&nbsp; 124529 |
| &nbsp;&nbsp;REIT Manufactured Housing — 0.30% | &nbsp;&nbsp;REIT Manufactured Housing — 0.30% | &nbsp;&nbsp;REIT Manufactured Housing — 0.30% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equity LifeStyle Properties | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2670 | &nbsp;&nbsp; 172482 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sun Communities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1850 | &nbsp;&nbsp; 264550 |
|  |  | &nbsp;&nbsp; 437032 |

---

NQ-IV930 [12/22] 2/23 (2747686) 7

------

Delaware Ivy Multi-Asset Income Fund (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | **Value (US $)** |
| &nbsp;&nbsp;**Common Stocks (continued)** | &nbsp;&nbsp;**Common Stocks (continued)** | &nbsp;&nbsp;**Common Stocks (continued)** |
| &nbsp;&nbsp;REIT Multifamily — 1.04% | &nbsp;&nbsp;REIT Multifamily — 1.04% | &nbsp;&nbsp;REIT Multifamily — 1.04% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Homes 4 Rent Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7010 | $211281 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equity Residential | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5290 | &nbsp;&nbsp; 312110 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Essex Property Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp; 254304 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gecina | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;870 | &nbsp;&nbsp; 88612 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;LEG Immobilien | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1030 | &nbsp;&nbsp; 67102 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mid-America Apartment Communities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380 | &nbsp;&nbsp; 59656 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;UDR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7230 | &nbsp;&nbsp; 280018 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;UNITE Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8170 | &nbsp;&nbsp; 89882 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vonovia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6640 | &nbsp;&nbsp; 156514 |
|  |  | &nbsp;&nbsp; 1519479 |
| &nbsp;&nbsp;REIT Office — 0.30% | &nbsp;&nbsp;REIT Office — 0.30% | &nbsp;&nbsp;REIT Office — 0.30% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Boston Properties | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2140 | &nbsp;&nbsp; 144621 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Castellum \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3370 | &nbsp;&nbsp; 40773 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fabege \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4950 | &nbsp;&nbsp; 42077 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Japan Real Estate Investment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23 | &nbsp;&nbsp; 101120 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tokyu REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55 | &nbsp;&nbsp; 86959 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wihlborgs Fastigheter | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3800 | &nbsp;&nbsp; 28587 |
|  |  | &nbsp;&nbsp; 444137 |
| &nbsp;&nbsp;REIT Retail — 0.26% | &nbsp;&nbsp;REIT Retail — 0.26% | &nbsp;&nbsp;REIT Retail — 0.26% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CapitaLand Integrated Commercial Trust | &nbsp;&nbsp;&nbsp;&nbsp;65600 | &nbsp;&nbsp; 99914 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Link REIT | &nbsp;&nbsp;&nbsp;&nbsp;22823 | &nbsp;&nbsp; 167544 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SmartCentres Real Estate Investment Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3050 | &nbsp;&nbsp; 60324 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unibail-Rodamco-Westfield † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;890 | &nbsp;&nbsp; 46330 |
|  |  | &nbsp;&nbsp; 374112 |
| &nbsp;&nbsp;REIT Self-Storage — 0.65% | &nbsp;&nbsp;REIT Self-Storage — 0.65% | &nbsp;&nbsp;REIT Self-Storage — 0.65% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Big Yellow Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6550 | &nbsp;&nbsp; 90826 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Extra Space Storage | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2210 | &nbsp;&nbsp; 325268 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;National Storage REIT | &nbsp;&nbsp;&nbsp;&nbsp;42060 | &nbsp;&nbsp; 66437 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Public Storage | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1680 | &nbsp;&nbsp; 470719 |
|  |  | &nbsp;&nbsp; 953250 |
| &nbsp;&nbsp;REIT Shopping Center — 0.36% | &nbsp;&nbsp;REIT Shopping Center — 0.36% | &nbsp;&nbsp;REIT Shopping Center — 0.36% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federal Realty Investment Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1070 | &nbsp;&nbsp; 108113 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kenedix Retail REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp; 58153 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kimco Realty | &nbsp;&nbsp;&nbsp;&nbsp;11120 | &nbsp;&nbsp; 235521 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kite Realty Group Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6220 | &nbsp;&nbsp; 130931 |
|  |  | &nbsp;&nbsp; 532718 |
| &nbsp;&nbsp;REIT Single Tenant — 0.76% | &nbsp;&nbsp;REIT Single Tenant — 0.76% | &nbsp;&nbsp;REIT Single Tenant — 0.76% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Agree Realty | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4090 | &nbsp;&nbsp; 290104 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NETSTREIT \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5960 | &nbsp;&nbsp; 109247 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Realty Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7980 | &nbsp;&nbsp; 506171 |

---

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | **Value (US $)** |
| &nbsp;&nbsp;**Common Stocks (continued)** | &nbsp;&nbsp;**Common Stocks (continued)** | &nbsp;&nbsp;**Common Stocks (continued)** |
| &nbsp;&nbsp;REIT Single Tenant (continued) | &nbsp;&nbsp;REIT Single Tenant (continued) | &nbsp;&nbsp;REIT Single Tenant (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Spirit Realty Capital | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5050 | $201646 |
|  |  | &nbsp;&nbsp; 1107168 |
| &nbsp;&nbsp;REIT Specialty — 0.05% | &nbsp;&nbsp;REIT Specialty — 0.05% | &nbsp;&nbsp;REIT Specialty — 0.05% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Invitation Homes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2580 | &nbsp;&nbsp; 76471 |
|  |  | &nbsp;&nbsp; 76471 |
| &nbsp;&nbsp;Technology — 3.39% | &nbsp;&nbsp;Technology — 3.39% | &nbsp;&nbsp;Technology — 3.39% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amadeus IT Group † | &nbsp;&nbsp;&nbsp;&nbsp;25770 | &nbsp;&nbsp; 1339276 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Tower | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;580 | &nbsp;&nbsp; 122879 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cellnex Telecom 144A # | &nbsp;&nbsp;&nbsp;&nbsp;16214 | &nbsp;&nbsp; 536656 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Digital Core REIT Management Pte | &nbsp;&nbsp;&nbsp;&nbsp;41500 | &nbsp;&nbsp; 22825 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Digital Realty Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4210 | &nbsp;&nbsp; 422137 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equinix | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;540 | &nbsp;&nbsp; 353716 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NEXTDC † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5980 | &nbsp;&nbsp; 37050 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SAP | &nbsp;&nbsp;&nbsp;&nbsp;12280 | &nbsp;&nbsp; 1267059 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SBA Communications | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240 | &nbsp;&nbsp; 67274 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Visa Class A \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3760 | &nbsp;&nbsp; 781178 |
|  |  | &nbsp;&nbsp; 4950050 |
| &nbsp;&nbsp;Utilities — 3.53% | &nbsp;&nbsp;Utilities — 3.53% | &nbsp;&nbsp;Utilities — 3.53% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;APA Group | &nbsp;&nbsp;&nbsp;&nbsp;33369 | &nbsp;&nbsp; 244459 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Enel | &nbsp;&nbsp;&nbsp;&nbsp;92386 | &nbsp;&nbsp; 497440 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hydro One 144A # | &nbsp;&nbsp;&nbsp;&nbsp;18034 | &nbsp;&nbsp; 483082 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;National Grid | &nbsp;&nbsp;&nbsp;&nbsp;40901 | &nbsp;&nbsp; 493187 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Orsted 144A # | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5746 | &nbsp;&nbsp; 522176 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PPL | &nbsp;&nbsp;&nbsp;&nbsp;16464 | &nbsp;&nbsp; 481078 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Severn Trent | &nbsp;&nbsp;&nbsp;&nbsp;15344 | &nbsp;&nbsp; 491764 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Snam | &nbsp;&nbsp;&nbsp;&nbsp;102442 | &nbsp;&nbsp; 496426 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SSE | &nbsp;&nbsp;&nbsp;&nbsp;24051 | &nbsp;&nbsp; 497789 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Terna - Rete Elettrica Nazionale | &nbsp;&nbsp;&nbsp;&nbsp;62886 | &nbsp;&nbsp; 464483 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United Utilities Group | &nbsp;&nbsp;&nbsp;&nbsp;39500 | &nbsp;&nbsp; 473428 |
|  |  | &nbsp;&nbsp; 5145312 |
| &nbsp;&nbsp;&nbsp;**Total Common Stocks<br> (cost $77,070,075)** | &nbsp;&nbsp;&nbsp;**Total Common Stocks<br> (cost $77,070,075)** | &nbsp;&nbsp; **71779595** |
| &nbsp;&nbsp;**Preferred Stock — 0.01%** | &nbsp;&nbsp;**Preferred Stock — 0.01%** | &nbsp;&nbsp;**Preferred Stock — 0.01%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;True Religion Apparel 0.000% =, ω | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp; 10280 |
| &nbsp;&nbsp;&nbsp;**Total Preferred Stock<br> (cost $33,831)** | &nbsp;&nbsp;&nbsp;**Total Preferred Stock<br> (cost $33,831)** | &nbsp;&nbsp; **10280** |
| &nbsp;&nbsp;**Exchange-Traded Funds — 5.75%** | &nbsp;&nbsp;**Exchange-Traded Funds — 5.75%** | &nbsp;&nbsp;**Exchange-Traded Funds — 5.75%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SPDR S&P Global Natural Resources ETF\* | &nbsp;&nbsp;&nbsp;&nbsp;13291 | &nbsp;&nbsp; 757853 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vanguard Global ex-U.S. Real Estate ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330 | &nbsp;&nbsp; 13642 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vanguard High Dividend Yield ETF | &nbsp;&nbsp;&nbsp;&nbsp;41242 | &nbsp;&nbsp; 4462797 |

---

8 NQ-IV930 [12/22] 2/23 (2747686)

------

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | **Value (US $)** |
| &nbsp;&nbsp;**Exchange-Traded Funds (continued)** | &nbsp;&nbsp;**Exchange-Traded Funds (continued)** | &nbsp;&nbsp;**Exchange-Traded Funds (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vanguard International High Dividend Yield ETF | &nbsp;&nbsp;&nbsp;&nbsp;50022 | $2979810 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vanguard Real Estate ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190 | &nbsp;&nbsp;&nbsp; 15671 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vanguard S&P 500 ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470 | &nbsp;&nbsp;&nbsp; 165130 |
| &nbsp;&nbsp;&nbsp;**Total Exchange-Traded Funds<br> (cost $8,601,976)** | &nbsp;&nbsp;&nbsp;**Total Exchange-Traded Funds<br> (cost $8,601,976)** | &nbsp;&nbsp; **8394903** |
| &nbsp;&nbsp;**Master Limited Partnerships — 0.39%** | &nbsp;&nbsp;**Master Limited Partnerships — 0.39%** | &nbsp;&nbsp;**Master Limited Partnerships — 0.39%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Black Stone Minerals | &nbsp;&nbsp;&nbsp;&nbsp;33507 | &nbsp;&nbsp;&nbsp; 565263 |
| &nbsp;&nbsp;&nbsp;**Total Master Limited Partnerships<br> (cost $347,984)** | &nbsp;&nbsp;&nbsp;**Total Master Limited Partnerships<br> (cost $347,984)** | &nbsp;&nbsp; **565263** |
| &nbsp;&nbsp;**Warrant — 0.01%** | &nbsp;&nbsp;**Warrant — 0.01%** | &nbsp;&nbsp;**Warrant — 0.01%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Resources 36.00% † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1167 | &nbsp;&nbsp;&nbsp; 14704 |
| &nbsp;&nbsp;&nbsp;**Total Warrant<br> (cost $101,593)** | &nbsp;&nbsp;&nbsp;**Total Warrant<br> (cost $101,593)** | &nbsp;&nbsp; **14704** |
| &nbsp;&nbsp;&nbsp;**Total Value of Securities Before<br> Securities Lending Collateral—98.42%<br> (cost $157,365,395)** | &nbsp;&nbsp;&nbsp;**Total Value of Securities Before<br> Securities Lending Collateral—98.42%<br> (cost $157,365,395)** | &nbsp;&nbsp; **143620740** |
| &nbsp;&nbsp;**Securities Lending Collateral — 3.00%** | &nbsp;&nbsp;**Securities Lending Collateral — 3.00%** | &nbsp;&nbsp;**Securities Lending Collateral — 3.00%** |
| &nbsp;&nbsp;Money Market Mutual Fund — 3.00% | &nbsp;&nbsp;Money Market Mutual Fund — 3.00% | &nbsp;&nbsp;Money Market Mutual Fund — 3.00% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dreyfus Institutional Preference Government Money Market Fund - Institutional Shares (seven-day effective yield 4.31%) | 4372099 | &nbsp;&nbsp;&nbsp; 4372099 |
| &nbsp;&nbsp;&nbsp;**Total Securities Lending Collateral<br> (cost $4,372,099)** | &nbsp;&nbsp;&nbsp;**Total Securities Lending Collateral<br> (cost $4,372,099)** | &nbsp;&nbsp; **4372099** |
| &nbsp;&nbsp;&nbsp;**Total Value of Securities—101.42%<br> (cost $161,737,494)** |  | &nbsp;&nbsp;**147,992,839■** |
| &nbsp;&nbsp;&nbsp;**Obligation to Return<br> Securities Lending<br> Collateral — (3.00%)** |  | &nbsp;&nbsp;&nbsp; **(4372099)** |
| &nbsp;&nbsp;&nbsp;**Receivables and Other Assets Net of Liabilities — 1.58%** |  | &nbsp;&nbsp;&nbsp; **2305908** |
| &nbsp;&nbsp;&nbsp;**Net Assets Applicable to 15,960,852 Shares Outstanding—100.00%** |  | &nbsp;&nbsp; **$145926648** |

---

---

| | |
|:---|:---|
| <sup>°</sup> | Principal amount shown is stated in USD unless noted that the security is denominated in another currency. |
| <sup>μ</sup> | Fixed to variable rate investment. The rate shown reflects the fixed rate in effect at December 31, 2022. Rate will reset at a future date. |
| <sup>\*</sup> | Fully or partially on loan. |

---

---

| | |
|:---|:---|
| <sup>#</sup> | Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. At December 31, 2022, the aggregate value of Rule 144A securities was $36,822,555, which represents 25.23% of the Fund's net assets. |
| <sup>></sup> | PIK. 100% of the income received was in the form of cash. |
| <sup>>></sup> | PIK. 100% of the income received was in the form of principal. |
| <sup>‡</sup> | Non-income producing security. Security is currently in default. |
| <sup>ψ</sup> | Perpetual security. Maturity date represents next call date. |
| <sup>=</sup> | The value of this security was determined using significant unobservable inputs and is reported as a Level 3 security. |
| <sup>^</sup> | Zero-coupon security. The rate shown is the effective yield at the time of purchase. |
| • | Variable rate investment. Rates reset periodically. Rate shown reflects the rate in effect at December 31, 2022. For securities based on a published reference rate and spread, the reference rate and spread are indicated in their descriptions. The reference rate descriptions (i.e. LIBOR03M, LIBOR06M, etc.) used in this report are identical for different securities, but the underlying reference rates may differ due to the timing of the reset period. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions, or for mortgage-backed securities, are impacted by the individual mortgages which are paying off over time. These securities do not indicate a reference rate and spread in their descriptions. |
| <sup>†</sup> | Non-income producing security. |
| <sup>ω</sup> | Perpetual security with no stated maturity date. |
| ■ | Includes $9,984,685 of securities loaned for which the counterparty pledged additional non-cash collateral valued at $6,013,539. |

---

NQ-IV930 [12/22] 2/23 (2747686) 9

------

Delaware Ivy Multi-Asset Income Fund (Unaudited)

The following foreign currency exchange contracts and futures contracts were outstanding at December 31, 2022:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Foreign Currency Exchange Contracts** | **Foreign Currency Exchange Contracts** | **Foreign Currency Exchange Contracts** | **Foreign Currency Exchange Contracts** |  |  |  |
| Counterparty | Currency to<br> Receive (Deliver) | In Exchange For | In Exchange For | Settlement<br> Date | Unrealized<br> Appreciation | Unrealized<br> Depreciation |
| BNYM CAD | &nbsp;&nbsp;&nbsp;17301 | USD | &nbsp;&nbsp;(12762) | &nbsp;&nbsp;1/3/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$16 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— |
| BNYM CAD | &nbsp;&nbsp;(47128) | USD | &nbsp;&nbsp;34763 | &nbsp;&nbsp;1/3/23 | &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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(45) |
| TD CAD | (695000) | USD | 522446 | 1/20/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Total Foreign Currency Exchange Contracts | Total Foreign Currency Exchange Contracts | Total Foreign Currency Exchange Contracts | Total Foreign Currency Exchange Contracts | Total Foreign Currency Exchange Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(45) |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Futures Contracts<br> Exchange-Traded** | **Futures Contracts<br> Exchange-Traded** | **Futures Contracts<br> Exchange-Traded** | **Futures Contracts<br> Exchange-Traded** | **Futures Contracts<br> Exchange-Traded** | **Futures Contracts<br> Exchange-Traded** | **Futures Contracts<br> Exchange-Traded** |
| Contracts to Buy (Sell) | Contracts to Buy (Sell) | Notional<br> Amount | Notional<br> Cost<br> (Proceeds) | Expiration<br> Date | Value/<br> Unrealized<br> Appreciation | Variation<br> Margin<br> Due from<br> (Due to)<br> Brokers |
| 4 | US Treasury 2 yr Notes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$820312 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$819572 | 3/31/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$741 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(625) |
| (5) | US Treasury 10 yr Notes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(561484) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(568832) | 3/22/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7347 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;703 |
| (4) | US Treasury 10 yr Ultra Notes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(473125) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(478865) | 3/22/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 |
| 2 | US Treasury Long Bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250688 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250646 | 3/22/23 | &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;42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(312) |
| Total Futures Contracts | Total Futures Contracts | Total Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$22521 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$13870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$16 |

---

The use of foreign exchange contracts and futures contracts involves elements of market risk and risks in excess of the amounts disclosed in the schedule of investments. The foreign currency exchange contracts and notional amounts presented above represent the Fund's total exposure in such contracts, whereas only the net unrealized appreciation (depreciation) and variation margin are reflected in the Fund's net assets.

---

| |
|:---|
| **Summary of abbreviations:** |
| ADR – American Depositary Receipt |
| AG – Aktiengesellschaft |
| BNYM – Bank of New York Mellon |
| CDOR03M – 3 Month Canadian Dollar Offered Rate |
| CVA – Certified Dutch Certificate |
| ETF – Exchange-Traded Fund |
| ICE – Intercontinental Exchange, Inc. |
| LIBOR – London Interbank Offered Rate |
| LIBOR01M – ICE LIBOR USD 1 Month |
| LIBOR03M – ICE LIBOR USD 3 Month |
| LIBOR06M – ICE LIBOR USD 6 Month |
| PIK – Payment-in-kind |
| REIT – Real Estate Investment Trust |
| S&P – Standard & Poor's Financial Services LLC |
| S.F. – Single Family |
| SOFR – Secured Overnight Financing Rate |
| SOFR03M – Secured Overnight Financing Rate 3 Month |
| SPDR – Standard & Poor's Depositary Receipt |
| TD – TD Bank |

---

10 NQ-IV930 [12/22] 2/23 (2747686)

------

(Unaudited)

---

| |
|:---|
| **Summary of abbreviations: (continued)** |
| yr – Year |

---

---

| |
|:---|
| **Summary of currencies:** |
| CAD – Canadian Dollar |
| EUR – European Monetary Unit |
| USD – US Dollar |

---

NQ-IV930 [12/22] 2/23 (2747686) 11

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** IVY FUNDS

- **b. Investment Company Act file number:** 811-06569

- **c. CIK number of Registrant:** 0000883622

- **d. LEI of Registrant:** UJ5MWG3K37CY01MVRY13

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

  - **Street Address 1:** 100 Independence

  - **City:** Philadelphia

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 19106

  - **Telephone number:** 215-255-1200

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

- **a. Name of Series:** Delaware Ivy Multi-Asset Income Fund

- **b. EDGAR series identifier (if any):** S000051066

- **c. LEI of Series:** 549300YPB448OHVVAT69

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

- **a. Date of fiscal year-end:** 2023-09-30

- **b. Date as of which information is reported:** 2022-12-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $151336023.76

**Total Liabilities:** $5108249.91

**Net Assets:** $146227773.85

**Cash Not Reported:** $205285.23

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0.00000000 | **1-Year:** 282.91689000 | **5-Year:** 3672.01416000 | **10-Year:** 2823.57863000 | **30-Year:** 622.93160000

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

- **3-Month:** 20.73583000 | **1-Year:** 3332.04260000 | **5-Year:** 13713.22448000 | **10-Year:** 1051.84160000 | **30-Year:** 11.64221000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000160888 | 4.50%                | 5.48%                | -0.73%               |
| Class ID C000160890 | 4.50%                | 5.70%                | -0.62%               |
| Class ID C000160887 | 4.50%                | 5.59%                | -0.73%               |
| Class ID C000160889 | 4.61%                | 5.59%                | -0.62%               |
| Class ID C000160886 | 4.50%                | 5.59%                | -0.62%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-1668284.60             | $8228882.38                                |
| Month 2  | $-3223637.31             | $11345705.22                               |
| Month 3  | $-1425424.96             | $-149935.42                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| MEDLINE BORROWER LP                            | Medline Borrower LP                                                             | CUSIP: 62482BAB8<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |     89000 | PA      | $70848.90     | 0.05%             | 2029-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ENCOMPASS HEALTH CORP                          | Encompass Health Corp                                                           | CUSIP: 29261AAE0<br>LEI: 549300FVRPM9DRQZRG64 | Long             | DBT              | CORP              | US        |    151000 | PA      | $130029.39    | 0.09%             | 2031-04-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Severn Trent PLC                               | Severn Trent PLC                                                                | CUSIP: 000000000<br>LEI: 213800RPBXRETY4A4C59 | Long             | EC               | CORP              | GB        |     15344 | NS      | $491763.91    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Hudbay Minerals Inc                            | Hudbay Minerals Inc                                                             | CUSIP: 443628102<br>LEI: 549300WI524AL577IX21 | Long             | EC               | CORP              | CA        |     50407 | NS      | $255563.49    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Aedifica SA                                    | Aedifica SA                                                                     | CUSIP: 000000000<br>LEI: 529900DTKNXL0AXQFN28 | Long             | EC               | CORP              | BE        |       480 | NS      | $38947.25     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Unilever PLC                                   | Unilever PLC                                                                    | CUSIP: 000000000<br>LEI: 549300MKFYEKVRWML317 | Long             | EC               | CORP              | GB        |     29220 | NS      | $1477313.20   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co Inc                                 | Merck & Co Inc                                                                  | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |     12690 | NS      | $1407955.50   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| CSC HOLDINGS LLC                               | CSC Holdings LLC                                                                | CUSIP: 126307BK2<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    254000 | PA      | $142240.00    | 0.10%             | 2031-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CO GAS CAPITAL                        | Southern Co Gas Capital Corp                                                    | CUSIP: 8426EPAF5<br>LEI: E8CD46SWUD2TSN8PA636 | Long             | DBT              | CORP              | US        |    115000 | PA      | $113219.66    | 0.08%             | 2032-09-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: —       |
| WESTMORELAND COAL                              | WESTMORELAND COAL                                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7276 | NS      | $12660.24     | 0.01%             |  |  |  | No            |                  3 | On Loan: No      |
| BELLATRIX EXPLORATION                          | Bellatrix Exploration Ltd                                                       | CUSIP: 078314AF8<br>LEI: 549300S2235IL73TH941 | Long             | DBT              | CORP              | CA        |    177000 | PA      | $0.00         | 0.00%             | 2023-09-11      | Fixed         | 8.50%                 | No            |                  3 | On Loan: No      |
| NEXTERA ENERGY CAPITAL                         | NextEra Energy Capital Holdings Inc                                             | CUSIP: 65339KCA6<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |     40000 | PA      | $26295.89     | 0.02%             | 2052-01-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Kimbell Royalty Partners LP                    | Kimbell Royalty Partners LP                                                     | CUSIP: 49435R102<br>LEI: 5493007FC11POVYRB841 | Long             | EC               | CORP              | US        |     35283 | NS      | $589226.10    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| ALEATICA SAB de CV                             | ALEATICA SAB de CV                                                              | CUSIP: 000000000<br>LEI: 529900YI9E9NDAYEDU63 | Long             | EC               | CORP              | MX        |    582694 | NS      | $1028345.09   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| CF Industries Holdings Inc                     | CF Industries Holdings Inc                                                      | CUSIP: 125269100<br>LEI: 529900CG8YAQFZ2JMV97 | Long             | EC               | CORP              | US        |      3195 | NS      | $272214.00    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| TORONTO-DOMINION BANK                          | Toronto-Dominion Bank/The                                                       | CUSIP: 89115A2C5<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |    180000 | PA      | $174287.25    | 0.12%             | 2027-06-08      | Fixed         | 4.11%                 | No            |                  2 | On Loan: —       |
| CNT HOLDINGS I CORP                            | CNT Holdings I Corp                                                             | CUSIP: 12656AAE9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    243000 | PA      | $230444.92    | 0.16%             | 2028-11-06      | Floating      | 11.12%                | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES/AADVAN                       | American Airlines Inc/AAdvantage Loyalty IP Ltd                                 | CUSIP: 00253XAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |    213142 | PA      | $195187.09    | 0.13%             | 2029-04-20      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| SS&C TECHNOLOGIES INC                          | SS&C Technologies Inc                                                           | CUSIP: 78466CAC0<br>LEI: 549300KY09TR3J12JU49 | Long             | DBT              | CORP              | US        |    875000 | PA      | $821122.84    | 0.56%             | 2027-09-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Schlumberger Ltd                               | Schlumberger Ltd                                                                | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | US        |      9724 | NS      | $519845.04    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Henry Schein Inc                               | Henry Schein Inc                                                                | CUSIP: 806407102<br>LEI: VGO3WGL8H45T73F4RR92 | Long             | EC               | CORP              | US        |     18040 | NS      | $1440854.80   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| KCA-KELLY TOPCO                                | KCA-KELLY TOPCO                                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7610 | NS      | $489576.67    | 0.33%             |  |  |  | No            |                  3 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                       | Charter Communications Operating LLC / Charter Communications Operating Capital | CUSIP: 161175BY9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     10000 | PA      | $5818.82      | 0.00%             | 2061-04-01      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| MICHAELS COS INC/THE                           | Michaels Cos Inc/The                                                            | CUSIP: 55916AAB0<br>LEI: 549300H9LWMBP7HYLR98 | Long             | DBT              | CORP              | US        |    722000 | PA      | $483702.67    | 0.33%             | 2029-05-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                       | Occidental Petroleum Corp                                                       | CUSIP: 674599ED3<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    245000 | PA      | $253730.58    | 0.17%             | 2030-09-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| SHERWIN-WILLIAMS CO                            | Sherwin-Williams Co/The                                                         | CUSIP: 824348BM7<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | DBT              | CORP              | US        |    200000 | PA      | $137597.34    | 0.09%             | 2050-05-15      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| CLYDESDALE ACQUISITION                         | Clydesdale Acquisition Holdings Inc                                             | CUSIP: 18972EAB1<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |    165000 | PA      | $141544.67    | 0.10%             | 2030-04-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| SAP SE                                         | SAP SE                                                                          | CUSIP: 000000000<br>LEI: 529900D6BF99LW9R2E68 | Long             | EC               | CORP              | DE        |     12280 | NS      | $1267058.70   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| NOVELIS CORP                                   | Novelis Corp                                                                    | CUSIP: 670001AE6<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |    620000 | PA      | $551068.40    | 0.38%             | 2030-01-30      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CRESTWOOD MID PARTNER LP                       | Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp              | CUSIP: 226373AR9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     36000 | PA      | $33082.41     | 0.02%             | 2029-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Enav SpA                                       | Enav SpA                                                                        | CUSIP: 000000000<br>LEI: 81560048ECF8D2059980 | Long             | EC               | CORP              | IT        |    119129 | NS      | $504985.69    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| CALLON PETROLEUM                               | Callon Petroleum Co                                                             | CUSIP: 13123XBD3<br>LEI: 549300EFOWPEB0WLZW21 | Long             | DBT              | CORP              | US        |    465000 | PA      | $443879.14    | 0.30%             | 2028-08-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| TERRAFORM POWER OPERATIN                       | TerraForm Power Operating LLC                                                   | CUSIP: 88104LAE3<br>LEI: 5493000S2OLR3UT5BE13 | Long             | DBT              | CORP              | US        |    106000 | PA      | $95581.26     | 0.07%             | 2028-01-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Big Yellow Group PLC                           | Big Yellow Group PLC                                                            | CUSIP: 000000000<br>LEI: 213800W7Q4V2ZI8LIW31 | Long             | EC               | CORP              | GB        |      6550 | NS      | $90826.60     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Parex Resources Inc                            | Parex Resources Inc                                                             | CUSIP: 69946Q104<br>LEI: 549300U7LWRGTY6XWK67 | Long             | EC               | CORP              | CA        |     23707 | NS      | $352803.58    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Asahi Group Holdings Ltd                       | Asahi Group Holdings Ltd                                                        | CUSIP: 000000000<br>LEI: 353800KAJ02XNHLCJW79 | Long             | EC               | CORP              | JP        |     11400 | NS      | $357791.83    | 0.24%             |  |  |  | No            |                  1 | On Loan: —       |
| Transurban Group                               | Transurban Group                                                                | CUSIP: 000000000<br>LEI: 549300ZR71SUQ4VUTM79 | Long             | EC               | CORP              | AU        |     53096 | NS      | $469232.34    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| FERRELLGAS LP/FERRELLGAS                       | Ferrellgas LP / Ferrellgas Finance Corp                                         | CUSIP: 315289AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    160000 | PA      | $145743.52    | 0.10%             | 2026-04-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| KEYCORP                                        | KeyCorp                                                                         | CUSIP: 49326EEN9<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | DBT              | CORP              | US        |     49000 | PA      | $46408.81     | 0.03%             | 2033-06-01      | Fixed         | 4.79%                 | No            |                  2 | On Loan: —       |
| Valero Energy Corp                             | Valero Energy Corp                                                              | CUSIP: 91913Y100<br>LEI: 549300XTO5VR8SKV1V74 | Long             | EC               | CORP              | US        |      5426 | NS      | $688342.36    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsubishi Estate Co Ltd                       | Mitsubishi Estate Co Ltd                                                        | CUSIP: 000000000<br>LEI: 353800KOFMRGOXSJ5Z65 | Long             | EC               | CORP              | JP        |     22000 | NS      | $286818.04    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| US RENAL CARE INC                              | US Renal Care Inc                                                               | CUSIP: 07335BAA4<br>LEI: 54930058SS5MF69JGN89 | Long             | DBT              | CORP              | US        |    986000 | PA      | $216920.00    | 0.15%             | 2027-07-15      | Fixed         | 10.62%                | No            |                  2 | On Loan: No      |
| ASBURY AUTOMOTIVE GROUP                        | Asbury Automotive Group Inc                                                     | CUSIP: 043436AX2<br>LEI: 549300JH4DTA7U42GL91 | Long             | DBT              | CORP              | US        |      8000 | PA      | $6592.00      | 0.00%             | 2032-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CDW LLC/CDW FINANCE                            | CDW LLC / CDW Finance Corp                                                      | CUSIP: 12513GBH1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     45000 | PA      | $38611.58     | 0.03%             | 2028-12-01      | Fixed         | 3.28%                 | No            |                  2 | On Loan: No      |
| Prologis Inc                                   | Prologis Inc                                                                    | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               | CORP              | US        |      6506 | NS      | $733477.75    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| CNX RESOURCES CORP                             | CNX Resources Corp                                                              | CUSIP: 12653CAJ7<br>LEI: 549300JK3KH8PWM3B226 | Long             | DBT              | CORP              | US        |    540000 | PA      | $497679.71    | 0.34%             | 2029-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Lamb Weston Holdings Inc                       | Lamb Weston Holdings Inc                                                        | CUSIP: 513272104<br>LEI: 5493005SMYID1D2OY946 | Long             | EC               | CORP              | US        |     11030 | NS      | $985640.80    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsubishi Estate Logistics RE                 | Mitsubishi Estate Logistics REIT Investment Corp                                | CUSIP: 000000000<br>LEI: 353800YYSGZU31ICQK38 | Long             | EC               | CORP              | JP        |        35 | NS      | $112541.91    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Public Storage                                 | Public Storage                                                                  | CUSIP: 74460D109<br>LEI: 549300LMZF40TKJ6DM64 | Long             | EC               | CORP              | US        |      1680 | NS      | $470719.20    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| GRAY ESCROW II INC                             | Gray Escrow II Inc                                                              | CUSIP: 389286AA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     35000 | PA      | $25285.23     | 0.02%             | 2031-11-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| United Utilities Group PLC                     | United Utilities Group PLC                                                      | CUSIP: 000000000<br>LEI: 2138002IEYQAOC88ZJ59 | Long             | EC               | CORP              | GB        |     39500 | NS      | $473428.45    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| STAPLES INC                                    | Staples Inc                                                                     | CUSIP: 855030AN2<br>LEI: XQM2JINI1UL7642TU573 | Long             | DBT              | CORP              | US        |     59000 | PA      | $50901.66     | 0.03%             | 2026-04-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                            | JPMorgan Chase & Co                                                             | CUSIP: 46647PDC7<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |     40000 | PA      | $37145.15     | 0.03%             | 2033-04-26      | Fixed         | 4.59%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                                                 | CUSIP: 31418EJF8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    157359 | PA      | $155183.27    | 0.11%             | 2052-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GRUPO AEROMEXICO SAB                           | Grupo Aeromexico SAB de CV                                                      | CUSIP: 40054JAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | MX        |    300000 | PA      | $265347.48    | 0.18%             | 2027-03-17      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Vinci SA                                       | Vinci SA                                                                        | CUSIP: 000000000<br>LEI: 213800WFQ334R8UXUG83 | Long             | EC               | CORP              | FR        |      4798 | NS      | $479139.22    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| MAYFIELD AGENCY BORROWER                       | Amynta Agency Borrower Inc                                                      | CUSIP: 57810JAC2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    990130 | PA      | $940623.12    | 0.64%             | 2025-02-28      | Floating      | 8.74%                 | No            |                  2 | On Loan: No      |
| Conagra Brands Inc                             | Conagra Brands Inc                                                              | CUSIP: 205887102<br>LEI: 54930035UDEIH090K650 | Long             | EC               | CORP              | US        |     11980 | NS      | $463626.00    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| SBA Communications Corp                        | SBA Communications Corp                                                         | CUSIP: 78410G104<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | EC               | CORP              | US        |       240 | NS      | $67274.40     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Welltower Inc                                  | Welltower Inc                                                                   | CUSIP: 95040Q104<br>LEI: T6IZ0MBEG5ACZDTR7D06 | Long             | EC               | CORP              | US        |      7400 | NS      | $485070.00    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN GREETINGS CORP                        | American Greetings Corp                                                         | CUSIP: 026375AR6<br>LEI: 549300WMJOT8C9DNMF90 | Long             | DBT              | CORP              | US        |    119000 | PA      | $114508.94    | 0.08%             | 2025-04-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Enel SpA                                       | Enel SpA                                                                        | CUSIP: 000000000<br>LEI: WOCMU6HCI0OJWNPRZS33 | Long             | EC               | CORP              | IT        |     92386 | NS      | $497439.81    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Xenia Hotels & Resorts Inc                     | Xenia Hotels & Resorts Inc                                                      | CUSIP: 984017103<br>LEI: 54930075IWIPHF5IQL62 | Long             | EC               | CORP              | US        |      3160 | NS      | $41648.80     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Clorox Co/The                                  | Clorox Co/The                                                                   | CUSIP: 189054109<br>LEI: 54930044KVSC06Z79I06 | Long             | EC               | CORP              | US        |      9510 | NS      | $1334538.30   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Sun Communities Inc                            | Sun Communities Inc                                                             | CUSIP: 866674104<br>LEI: 549300H5GEOJYN41ZG57 | Long             | EC               | CORP              | US        |      1850 | NS      | $264550.00    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.    | CBOT 10 Year US Treasury Note                                                   | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |        -5 | NC      | $7347.00      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| MADISON IAQ LLC                                | Madison IAQ LLC                                                                 | CUSIP: 55760LAA5<br>LEI: 549300IXDNBXNHUPBU73 | Long             | DBT              | CORP              | US        |     38000 | PA      | $31825.00     | 0.02%             | 2028-06-30      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Lifestyle Communities Ltd                      | Lifestyle Communities Ltd                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |      3310 | NS      | $42976.41     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| US TREASURY N/B                                | United States Treasury Note/Bond                                                | CUSIP: 91282CFU0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    860000 | PA      | $863225.00    | 0.59%             | 2027-10-31      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                        | Royal Caribbean Cruises Ltd                                                     | CUSIP: 780153BG6<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |    339000 | PA      | $271138.98    | 0.19%             | 2028-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                       | Benchmark 2020-B17 Mortgage Trust                                               | CUSIP: 08162MAX6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    225000 | PA      | $187098.14    | 0.13%             | 2053-03-15      | Fixed         | 2.29%                 | No            |                  2 | On Loan: No      |
| NUSTAR LOGISTICS LP                            | NuStar Logistics LP                                                             | CUSIP: 67059TAH8<br>LEI: N62BF2PKP51FIIOIUN20 | Long             | DBT              | CORP              | US        |    445000 | PA      | $412265.67    | 0.28%             | 2030-10-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Bank                                           | BANK 2020-BNK26                                                                 | CUSIP: 06540JBG6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    220000 | PA      | $183818.78    | 0.13%             | 2063-03-15      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                           | Bank of America Corp                                                            | CUSIP: 06051GJE0<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    105000 | PA      | $71011.62     | 0.05%             | 2041-06-19      | Fixed         | 2.68%                 | No            |                  2 | On Loan: No      |
| Makita Corp                                    | Makita Corp                                                                     | CUSIP: 000000000<br>LEI: 529900CDR9E94BCM6294 | Long             | EC               | CORP              | JP        |     23200 | NS      | $544468.15    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| ASCENT RESOURCES/ARU FIN                       | Ascent Resources Utica Holdings LLC / ARU Finance Corp                          | CUSIP: 04364VAG8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    214000 | PA      | $207915.87    | 0.14%             | 2026-11-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.    | CBOT 2 Year US Treasury Note                                                    | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |         4 | NC      | $740.72       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| BOOZ ALLEN HAMILTON INC                        | Booz Allen Hamilton Inc                                                         | CUSIP: 09951LAA1<br>LEI: 549300D7XCH2480XU542 | Long             | DBT              | CORP              | US        |     67000 | PA      | $59478.08     | 0.04%             | 2028-09-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Amadeus IT Group SA                            | Amadeus IT Group SA                                                             | CUSIP: 000000000<br>LEI: 9598004A3FTY3TEHHN09 | Long             | EC               | CORP              | ES        |     25770 | NS      | $1339275.86   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| TRANSDIGM INC                                  | TransDigm Inc                                                                   | CUSIP: 893647BP1<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    177000 | PA      | $155941.43    | 0.11%             | 2029-01-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Knorr-Bremse AG                                | Knorr-Bremse AG                                                                 | CUSIP: 000000000<br>LEI: 5299001GRRO0Z25YZT52 | Long             | EC               | CORP              | DE        |     11270 | NS      | $615745.11    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Danone SA                                      | Danone SA                                                                       | CUSIP: 000000000<br>LEI: 969500KMUQ2B6CBAF162 | Long             | EC               | CORP              | FR        |     19380 | NS      | $1021292.15   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Pfizer Inc                                     | Pfizer Inc                                                                      | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | EC               | CORP              | US        |     16722 | NS      | $856835.28    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| ERO Copper Corp                                | ERO Copper Corp                                                                 | CUSIP: 296006109<br>LEI: 549300KL8A21SEIO8I47 | Long             | EC               | CORP              | CA        |     23707 | NS      | $326365.20    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| CSC HOLDINGS LLC                               | CSC Holdings LLC                                                                | CUSIP: 126307AS6<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    285000 | PA      | $230231.55    | 0.16%             | 2028-02-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                               | T-Mobile USA Inc                                                                | CUSIP: 87264ABW4<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |     64000 | PA      | $55406.36     | 0.04%             | 2031-04-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Extra Space Storage Inc                        | Extra Space Storage Inc                                                         | CUSIP: 30225T102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2240 | NS      | $329683.20    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Aroundtown SA                                  | Aroundtown SA                                                                   | CUSIP: 000000000<br>LEI: 529900H4DWG3KWMBMQ39 | Long             | EC               | CORP              | LU        |     24340 | NS      | $56877.53     | 0.04%             |  |  |  | No            |                  1 | On Loan: —       |
| NEW COTAI EQUITY                               | NEW COTAI EQUITY                                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    340864 | PA      | $785904.61    | 0.54%             | 2027-02-02      | Fixed         | 5.00%                 | No            |                  3 | On Loan: No      |
| FRONTIER COMMUNICATIONS                        | Frontier Communications Holdings LLC                                            | CUSIP: 35906ABG2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    174000 | PA      | $144181.62    | 0.10%             | 2029-05-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| JONES DESLAURIERS INSURA                       | Jones Deslauriers Insurance Management Inc                                      | CUSIP: 000000000<br>LEI: 549300JQIWNFU00E5424 | Long             | LON              | CORP              | CA        |    550385 | PA      | $378034.25    | 0.26%             | 2028-03-26      | Floating      | 9.11%                 | No            |                  2 | On Loan: No      |
| MOSS CREEK RESOURCES HLD                       | Moss Creek Resources Holdings Inc                                               | CUSIP: 61965RAA3<br>LEI: 54930037SLMSPWKYIX36 | Long             | DBT              | CORP              | US        |    246000 | PA      | $222177.36    | 0.15%             | 2026-01-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| NESCO HOLDINGS II INC                          | NESCO Holdings II Inc                                                           | CUSIP: 64083YAA9<br>LEI: 254900FAHT0HW9T6L409 | Long             | DBT              | CORP              | US        |    519000 | PA      | $454799.70    | 0.31%             | 2029-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Mid-America Apartment Communit                 | Mid-America Apartment Communities Inc                                           | CUSIP: 59522J103<br>LEI: 549300FQZKFR5YNSHZ21 | Long             | EC               | CORP              | US        |       380 | NS      | $59656.20     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| AT&T INC                                       | AT&T Inc                                                                        | CUSIP: 00206RKJ0<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    385000 | PA      | $261582.51    | 0.18%             | 2053-09-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Apple Hospitality REIT Inc                     | Apple Hospitality REIT Inc                                                      | CUSIP: 03784Y200<br>LEI: 549300EVZAR0FBZO4F16 | Long             | EC               | CORP              | US        |      5630 | NS      | $88841.40     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY                                 | Morgan Stanley                                                                  | CUSIP: 61747YEV3<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     15000 | PA      | $15511.17     | 0.01%             | 2028-10-18      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| SABRE GLBL INC                                 | Sabre GLBL Inc                                                                  | CUSIP: 78573NAC6<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | DBT              | CORP              | US        |    103000 | PA      | $102781.33    | 0.07%             | 2025-04-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                       | Benchmark 2022-B33 Mortgage Trust                                               | CUSIP: 08163PBG4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    225000 | PA      | $199069.36    | 0.14%             | 2055-03-15      | Fixed         | 3.46%                 | No            |                  2 | On Loan: No      |
| Kenedix Retail REIT Corp                       | Kenedix Retail REIT Corp                                                        | CUSIP: 000000000<br>LEI: 353800IOH9ONLGE3AQ55 | Long             | EC               | CORP              | JP        |        30 | NS      | $58153.00     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Otis Worldwide Corp                            | Otis Worldwide Corp                                                             | CUSIP: 68902V107<br>LEI: 549300ZLBKR8VSU25153 | Long             | EC               | CORP              | US        |      4990 | NS      | $390766.90    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| VERIZON COMMUNICATIONS                         | Verizon Communications Inc                                                      | CUSIP: 92343VGP3<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |     75000 | PA      | $57246.16     | 0.04%             | 2052-03-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| ARDONAGH MIDCO 2 PLC                           | Ardonagh Midco 2 PLC                                                            | CUSIP: 03985RAA1<br>LEI: 9845003AD1386OH58D80 | Long             | DBT              | CORP              | GB        |   1047744 | PA      | $1000595.28   | 0.68%             | 2027-01-15      | Fixed         | 11.50%                | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                | United States Treasury Note/Bond                                                | CUSIP: 91282CFP1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    605000 | PA      | $604621.88    | 0.41%             | 2025-10-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| DIG INTL FIN/DIG INTL HL                       | Digicel International Finance Ltd/Digicel international Holdings Ltd            | CUSIP: 25381VAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |    411000 | PA      | $354109.38    | 0.24%             | 2024-05-25      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Orange SA                                      | Orange SA                                                                       | CUSIP: 000000000<br>LEI: 969500MCOONR8990S771 | Long             | EC               | CORP              | FR        |     76228 | NS      | $757313.48    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| ASBURY AUTOMOTIVE GROUP                        | Asbury Automotive Group Inc                                                     | CUSIP: 043436AW4<br>LEI: 549300JH4DTA7U42GL91 | Long             | DBT              | CORP              | US        |      8000 | PA      | $6750.56      | 0.00%             | 2029-11-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Fresenius Medical Care AG & Co                 | Fresenius Medical Care AG & Co KGaA                                             | CUSIP: 000000000<br>LEI: 549300CP8NY40UP89Q40 | Long             | EC               | CORP              | DE        |     17670 | NS      | $578227.01    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| NEXTDC Ltd                                     | NEXTDC Ltd                                                                      | CUSIP: 000000000<br>LEI: 529900RTERU3X7G3D672 | Long             | EC               | CORP              | AU        |      5980 | NS      | $37050.50     | 0.03%             |  |  |  | No            |                  1 | On Loan: —       |
| PILGRIM'S PRIDE CORP                           | Pilgrim's Pride Corp                                                            | CUSIP: 72147KAF5<br>LEI: 549300ZSLGV64ZL3HD75 | Long             | DBT              | CORP              | US        |    406000 | PA      | $345912.00    | 0.24%             | 2031-04-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Digital Core REIT Management P                 | Digital Core REIT Management Pte Ltd                                            | CUSIP: 000000000<br>LEI: 549300IIGO612K0POE26 | Long             | EC               | CORP              | SG        |     41500 | NS      | $22825.00     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| VTR COMUNICACIONES SPA                         | VTR Comunicaciones SpA                                                          | CUSIP: 918367AC7<br>LEI: 213800XDZJKMC1AEUV94 | Long             | DBT              | CORP              | CL        |    346000 | PA      | $203155.63    | 0.14%             | 2029-04-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Laureate Education Inc                         | Laureate Education Inc                                                          | CUSIP: 518613203<br>LEI: 5JL7TMOH5TY3IUYSUP91 | Long             | EC               | CORP              | US        |      5687 | NS      | $54708.94     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.    | CBOT US Long Bond                                                               | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |         2 | NC      | $41.84        | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| CALIFORNIA RESOURCES CORP                      | CALIFORNIA RESOURCES -CW27                                                      | CUSIP: 13057Q123<br>LEI: 5493003Q8F0T4F4YMR48 | Long             | EC               | CORP              | US        |      1167 | NS      | $14704.20     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| MICHAELS COS INC/THE                           | Michaels Cos Inc/The                                                            | CUSIP: 55916AAA2<br>LEI: 549300H9LWMBP7HYLR98 | Long             | DBT              | CORP              | US        |    298000 | PA      | $240109.24    | 0.16%             | 2028-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| STANDARD INDUSTRIES INC                        | Standard Industries Inc/NJ                                                      | CUSIP: 853496AD9<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |     38000 | PA      | $34251.30     | 0.02%             | 2028-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| BERKSHIRE HATHAWAY FIN                         | Berkshire Hathaway Finance Corp                                                 | CUSIP: 084664DB4<br>LEI: 549300RLHFT5RU20WM87 | Long             | DBT              | CORP              | US        |    205000 | PA      | $164485.28    | 0.11%             | 2052-03-15      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| CP ATLAS BUYER INC                             | CP Atlas Buyer Inc                                                              | CUSIP: 12597YAA7<br>LEI: 2549006ZZ07G0NDDCR36 | Long             | DBT              | CORP              | US        |    395000 | PA      | $293881.82    | 0.20%             | 2028-12-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| TRUE RELIGION PREFERRED                        | TRUE RELIGION PREFERRED                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |         2 | NS      | $10280.00     | 0.01%             |  |  |  | No            |                  3 | On Loan: No      |
| Invitation Homes Inc                           | Invitation Homes Inc                                                            | CUSIP: 46187W107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2580 | NS      | $76471.20     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| LEG Immobilien SE                              | LEG Immobilien SE                                                               | CUSIP: 000000000<br>LEI: 391200SO40AKONBO0Z96 | Long             | EC               | CORP              | DE        |      1030 | NS      | $67102.01     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| SABRE GLBL INC                                 | Sabre GLBL Inc                                                                  | CUSIP: 78573NAF9<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | DBT              | CORP              | US        |     42000 | PA      | $40433.19     | 0.03%             | 2025-09-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Freddie Mac Pool                                                                | CUSIP: 3133KJNE8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    625637 | PA      | $535048.17    | 0.37%             | 2050-07-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| STANDARD INDUSTRIES INC                        | Standard Industries Inc/NJ                                                      | CUSIP: 853496AG2<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |     40000 | PA      | $32680.38     | 0.02%             | 2030-07-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| THE TORONTO-DOMINION BANK                      | CAD/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: PT3QB789TSUIDF371261 | N/A              | DFE              | CORP              | US        |         1 | NC      | $9098.79      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                  | TransDigm Inc                                                                   | CUSIP: 893647BL0<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    551000 | PA      | $518535.08    | 0.35%             | 2027-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CELANESE US HOLDINGS LLC                       | Celanese US Holdings LLC                                                        | CUSIP: 15089QAL8<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |    105000 | PA      | $104680.23    | 0.07%             | 2025-03-15      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| Bank                                           | BANK 2021-BNK32                                                                 | CUSIP: 06542BBH9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    250000 | PA      | $208564.43    | 0.14%             | 2054-04-15      | Fixed         | 2.64%                 | No            |                  2 | On Loan: No      |
| LOCKHEED MARTIN CORP                           | Lockheed Martin Corp                                                            | CUSIP: 539830BS7<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | DBT              | CORP              | US        |     65000 | PA      | $55499.02     | 0.04%             | 2053-06-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE SA                               | Altice France SA/France                                                         | CUSIP: 02156LAF8<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |    254000 | PA      | $190888.16    | 0.13%             | 2029-07-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| ARCHES BUYER INC                               | Arches Buyer Inc                                                                | CUSIP: 039524AB9<br>LEI: 2549009ADY4208OH2Y47 | Long             | DBT              | CORP              | US        |    409000 | PA      | $328772.61    | 0.22%             | 2028-12-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| AIR LEASE CORP                                 | Air Lease Corp                                                                  | CUSIP: 00914AAS1<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |     35000 | PA      | $27893.90     | 0.02%             | 2032-01-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: —       |
| AMC NETWORKS INC                               | AMC Networks Inc                                                                | CUSIP: 00164VAF0<br>LEI: 549300VGG9K75226LR46 | Long             | DBT              | CORP              | US        |    340000 | PA      | $212352.95    | 0.15%             | 2029-02-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: —       |
| Novo Nordisk A/S                               | Novo Nordisk A/S                                                                | CUSIP: 000000000<br>LEI: 549300DAQ1CVT6CXN342 | Long             | EC               | CORP              | DK        |      7120 | NS      | $961386.54    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| US TREASURY N/B                                | United States Treasury Note/Bond                                                | CUSIP: 91282CFV8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    955000 | PA      | $974771.46    | 0.67%             | 2032-11-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Vanguard High Dividend Yield ETF               | Vanguard High Dividend Yield ETF                                                | CUSIP: 921946406<br>LEI: N/A                  | Long             | EC               | RF                | US        |     41242 | NS      | $4462796.82   | 3.05%             |  |  |  | No            |                  1 | On Loan: No      |
| FRONTIER COMMUNICATIONS                        | Frontier Communications Holdings LLC                                            | CUSIP: 35906ABF4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    186000 | PA      | $162565.86    | 0.11%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WEATHERFORD INTERNATIONA                       | Weatherford International Ltd                                                   | CUSIP: 947075AU1<br>LEI: 549300A2JKMG5PGOGF82 | Long             | DBT              | CORP              | BM        |    275000 | PA      | $264575.63    | 0.18%             | 2030-04-30      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| LITHIA MOTORS INC                              | Lithia Motors Inc                                                               | CUSIP: 536797AE3<br>LEI: SE8N1EZEHPZQBCBVKD53 | Long             | DBT              | CORP              | US        |     15000 | PA      | $13554.89     | 0.01%             | 2027-12-15      | Fixed         | 4.62%                 | 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        |    338000 | PA      | $303037.28    | 0.21%             | 2027-08-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Sylvamo Corp                                   | Sylvamo Corp                                                                    | CUSIP: 871332102<br>LEI: 5493001AOYU1ZOWOC971 | Long             | EC               | CORP              | US        |      2451 | NS      | $119094.09    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| PPL Corp                                       | PPL Corp                                                                        | CUSIP: 69351T106<br>LEI: 9N3UAJSNOUXFKQLF3V18 | Long             | EC               | CORP              | US        |     16464 | NS      | $481078.08    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| BURLINGTN NORTH SANTA FE                       | Burlington Northern Santa Fe LLC                                                | CUSIP: 12189LBH3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     55000 | PA      | $36931.98     | 0.03%             | 2052-06-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                             | Energy Transfer LP                                                              | CUSIP: 29273VAN0<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    262000 | PA      | $225975.00    | 0.15%             | N/A             | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| NCR CORP                                       | NCR Corp                                                                        | CUSIP: 62886EAZ1<br>LEI: 549300YKTY8JX1DV2R67 | Long             | DBT              | CORP              | US        |    106000 | PA      | $87623.31     | 0.06%             | 2030-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| WESCO AIRCRAFT HOLDINGS                        | Wesco Aircraft Holdings Inc                                                     | CUSIP: 97789LAA4<br>LEI: 529900P5VTXZS191P208 | Long             | DBT              | CORP              | US        |    128000 | PA      | $32320.00     | 0.02%             | 2027-11-15      | Fixed         | 13.12%                | No            |                  2 | On Loan: No      |
| Summit Industrial Income REIT                  | Summit Industrial Income REIT                                                   | CUSIP: 866120116<br>LEI: 2549002JNRHTJ9H0MR86 | Long             | EC               | CORP              | CA        |      7160 | NS      | $119985.52    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Anglo American PLC                             | Anglo American PLC                                                              | CUSIP: 000000000<br>LEI: 549300S9XF92D1X8ME43 | Long             | EC               | CORP              | GB        |     20400 | NS      | $798204.40    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| CALPINE CORP                                   | Calpine Corp                                                                    | CUSIP: 131347CN4<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |    710000 | PA      | $634972.74    | 0.43%             | 2028-03-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: —       |
| CCO HLDGS LLC/CAP CORP                         | CCO Holdings LLC / CCO Holdings Capital Corp                                    | CUSIP: 1248EPCK7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     43000 | PA      | $34589.20     | 0.02%             | 2031-02-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| DREYFUS INST PREF GOVT PLUS MMF - SL #4134     | DREYFUS INST PREF GOVT PLUS MMF - SL #4134                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   4372099 | NS      | $4372098.99   | 2.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Industrial & Infrastructure Fu                 | Industrial & Infrastructure Fund Investment Corp                                | CUSIP: 000000000<br>LEI: 353800WCHFY04YKYCI19 | Long             | EC               | CORP              | JP        |        90 | NS      | $104099.36    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| CONSENSUS CLOUD SOLUTION                       | Consensus Cloud Solutions Inc                                                   | CUSIP: 20848VAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     85000 | PA      | $79857.98     | 0.05%             | 2026-10-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| HealthCo REIT                                  | HealthCo REIT                                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |     38920 | NS      | $45842.72     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| National Storage REIT                          | National Storage REIT                                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |     42060 | NS      | $66436.80     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| CSC HOLDINGS LLC                               | CSC Holdings LLC                                                                | CUSIP: 126307BA4<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    202000 | PA      | $114371.39    | 0.08%             | 2030-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| APA Group                                      | APA Group                                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |     33369 | NS      | $244459.49    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                       | Vistra Operations Co LLC                                                        | CUSIP: 92840VAE2<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    109000 | PA      | $98297.44     | 0.07%             | 2029-07-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| LSF9 ATL HLDG/VICTRA FIN                       | LSF9 Atlantis Holdings LLC / Victra Finance Corp                                | CUSIP: 50220MAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    526000 | PA      | $466199.06    | 0.32%             | 2026-02-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Realty Income Corp                             | Realty Income Corp                                                              | CUSIP: 756109104<br>LEI: 549300CUWDAUZSH43859 | Long             | EC               | CORP              | US        |      7980 | NS      | $506171.40    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| KRONOS ACQ / KIK CUSTOM                        | Kronos Acquisition Holdings Inc / KIK Custom Products Inc                       | CUSIP: 50106GAE2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    270000 | PA      | $233887.50    | 0.16%             | 2026-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Freddie Mac Pool                                                                | CUSIP: 3133KPZH4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     30874 | PA      | $31421.80     | 0.02%             | 2052-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| United Urban Investment Corp                   | United Urban Investment Corp                                                    | CUSIP: 000000000<br>LEI: 353800GYZWBD7BDCN841 | Long             | EC               | CORP              | JP        |       145 | NS      | $166389.82    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| TRUE RELIGION COMMON                           | TRUE RELIGION COMMON                                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         2 | NS      | $33570.07     | 0.02%             |  |  |  | No            |                  3 | On Loan: No      |
| CapitaLand Integrated Commerci                 | CapitaLand Integrated Commercial Trust                                          | CUSIP: 000000000<br>LEI: 54930031292WUTXF0L29 | Long             | EC               | CORP              | SG        |     65600 | NS      | $99913.39     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| US TREASURY N/B                                | United States Treasury Note/Bond                                                | CUSIP: 91282CFW6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     15000 | PA      | $15092.58     | 0.01%             | 2025-11-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CITIZENS BANK NA/RI                            | Citizens Bank NA/Providence RI                                                  | CUSIP: 75524KPT5<br>LEI: DRMSV1Q0EKMEXLAU1P80 | Long             | DBT              | CORP              | US        |    250000 | PA      | $252997.78    | 0.17%             | 2025-10-24      | Fixed         | 6.06%                 | No            |                  2 | On Loan: No      |
| ENTEGRIS ESCROW CORP                           | Entegris Escrow Corp                                                            | CUSIP: 29365BAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    239000 | PA      | $218434.60    | 0.15%             | 2029-04-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                       | Vistra Operations Co LLC                                                        | CUSIP: 92840VAH5<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    163000 | PA      | $140772.00    | 0.10%             | 2029-05-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: —       |
| MLN US HOLDCO LLC                              | MLN US HOLDCO LLC                                                               | CUSIP: 55292HAL7<br>LEI: 549300QKU7NPW6O86862 | Long             | LON              | CORP              | US        |    376000 | PA      | $291400.00    | 0.20%             | 2027-10-18      | Floating      | 13.67%                | No            |                  2 | On Loan: No      |
| PAR PHARMACEUTICAL INC                         | Par Pharmaceutical Inc                                                          | CUSIP: 69888XAA7<br>LEI: 549300KK5WR4MGN4YT97 | Long             | DBT              | CORP              | US        |    454000 | PA      | $345993.26    | 0.24%             | 2027-04-01      | Variable      | 7.50%                 | No            |                  2 | On Loan: No      |
| CP ATLAS BUYER INC                             | CP Atlas Buyer Inc                                                              | CUSIP: 12658HAG7<br>LEI: 2549006ZZ07G0NDDCR36 | Long             | LON              | CORP              | US        |    555297 | PA      | $488314.70    | 0.33%             | 2027-11-23      | Floating      | 7.87%                 | No            |                  2 | On Loan: No      |
| First Industrial Realty Trust                  | First Industrial Realty Trust Inc                                               | CUSIP: 32054K103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2590 | NS      | $124993.40    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| ADTALEM GLOBAL EDUCATION                       | Adtalem Global Education Inc                                                    | CUSIP: 00737WAA7<br>LEI: 549300Z467EZLMODV621 | Long             | DBT              | CORP              | US        |    548000 | PA      | $497978.56    | 0.34%             | 2028-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MAR BIDCO SARL                                 | MAR Bidco Sarl                                                                  | CUSIP: 000000000<br>LEI: 259400BFVFGTIQA6ZC28 | Long             | LON              | CORP              | LU        |        21 | PA      | $19.04        | 0.00%             | 2028-06-28      | Floating      | 8.63%                 | No            |                  2 | On Loan: No      |
| CDW LLC/CDW FINANCE                            | CDW LLC / CDW Finance Corp                                                      | CUSIP: 12513GBJ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    470000 | PA      | $388178.26    | 0.27%             | 2031-12-01      | Fixed         | 3.57%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                        | Goldman Sachs Group Inc/The                                                     | CUSIP: 38141GYG3<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    180000 | PA      | $155499.35    | 0.11%             | 2027-09-10      | Fixed         | 1.54%                 | No            |                  2 | On Loan: No      |
| FMG RESOURCES AUG 2006                         | FMG Resources August 2006 Pty Ltd                                               | CUSIP: 30251GBD8<br>LEI: 549300EFD6S2NFE9D745 | Long             | DBT              | CORP              | AU        |    400000 | PA      | $373189.00    | 0.26%             | 2030-04-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Gecina SA                                      | Gecina SA                                                                       | CUSIP: 000000000<br>LEI: 9695003E4MMA10IBTR26 | Long             | EC               | CORP              | FR        |       870 | NS      | $88612.39     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinix Inc                                    | Equinix Inc                                                                     | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               | CORP              | US        |       540 | NS      | $353716.20    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Atlas Arteria Ltd                              | Atlas Arteria Ltd                                                               | CUSIP: 000000000<br>LEI: 254900SGF4ZQDBH2YC59 | Long             | EC               | CORP              | AU        |     87494 | NS      | $393759.62    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| WESCO AIRCRAFT HOLDINGS                        | Wesco Aircraft Holdings Inc                                                     | CUSIP: 97789LAB2<br>LEI: 529900P5VTXZS191P208 | Long             | DBT              | CORP              | US        |    820000 | PA      | $555550.00    | 0.38%             | 2026-11-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: —       |
| CUMULUS MEDIA NEW HLDGS                        | Cumulus Media New Holdings Inc                                                  | CUSIP: 23110AAA4<br>LEI: 5493001D9VBAVY1OKJ46 | Long             | DBT              | CORP              | US        |    420000 | PA      | $353463.60    | 0.24%             | 2026-07-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Intertek Group PLC                             | Intertek Group PLC                                                              | CUSIP: 000000000<br>LEI: 2138003GAT25WW1RN369 | Long             | EC               | CORP              | GB        |     14689 | NS      | $716368.47    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| ASCENT RESOURCES UTICA                         | Ascent Resources Utica Holdings LLC                                             | CUSIP: 000000000<br>LEI: 549300EGLQ2M2CL7JZ89 | Long             | LON              | CORP              | US        |    133000 | PA      | $140869.21    | 0.10%             | 2025-11-01      | Floating      | 13.37%                | No            |                  2 | On Loan: No      |
| AMAZON.COM INC                                 | Amazon.com Inc                                                                  | CUSIP: 023135BT2<br>LEI: ZXTILKJKG63JELOEG630 | Long             | DBT              | CORP              | US        |    105000 | PA      | $66652.19     | 0.05%             | 2050-06-03      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                                                 | CUSIP: 3140QP4F1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    141595 | PA      | $142041.28    | 0.10%             | 2052-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| LIGADO NETWORKS LLC                            | Ligado Networks LLC                                                             | CUSIP: 53225HAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1027404 | PA      | $335036.38    | 0.23%             | 2023-11-01      | Fixed         | 15.50%                | No            |                  2 | On Loan: No      |
| MESQUITE ENERGY INC                            | MESQUITE ENERGY INC                                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    111000 | PA      | $1803.75      | 0.00%             | 2023-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| TELESAT CANADA/TELESAT L                       | Telesat Canada / Telesat LLC                                                    | CUSIP: 87952VAR7<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    678000 | PA      | $312742.96    | 0.21%             | 2026-12-06      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| LITHIA MOTORS INC                              | Lithia Motors Inc                                                               | CUSIP: 536797AF0<br>LEI: SE8N1EZEHPZQBCBVKD53 | Long             | DBT              | CORP              | US        |    149000 | PA      | $121491.66    | 0.08%             | 2031-01-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| NFP CORP                                       | NFP Corp                                                                        | CUSIP: 65342RAD2<br>LEI: VO2L9FZNXDJNQNEYH039 | Long             | DBT              | CORP              | US        |    709000 | PA      | $585973.61    | 0.40%             | 2028-08-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| BERKSHIRE HATHAWAY ENERG                       | Berkshire Hathaway Energy Co                                                    | CUSIP: 084659BC4<br>LEI: 549300JD0S5IZJE9LY15 | Long             | DBT              | CORP              | US        |     60000 | PA      | $39558.38     | 0.03%             | 2051-05-15      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| Boston Properties Inc                          | Boston Properties Inc                                                           | CUSIP: 101121101<br>LEI: 549300OF70FSEUQBT254 | Long             | EC               | CORP              | US        |      2140 | NS      | $144621.20    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Land Securities Group PLC                      | Land Securities Group PLC                                                       | CUSIP: 000000000<br>LEI: 213800V8IAVKS37D6B88 | Long             | EC               | CORP              | GB        |     11020 | NS      | $82786.82     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Segro PLC                                      | Segro PLC                                                                       | CUSIP: 000000000<br>LEI: 213800XC35KGM9NFC641 | Long             | EC               | CORP              | GB        |     12270 | NS      | $113271.02    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Spirit Realty Capital Inc                      | Spirit Realty Capital Inc                                                       | CUSIP: 84860W300<br>LEI: 549300LTU6LVPZSHMJ25 | Long             | EC               | CORP              | US        |      5050 | NS      | $201646.50    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Weyerhaeuser Co                                | Weyerhaeuser Co                                                                 | CUSIP: 962166104<br>LEI: 08IRJODWFYBI7QWRGS31 | Long             | EC               | CORP              | US        |     20435 | NS      | $633485.00    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Freddie Mac                                    | Freddie Mac Pool                                                                | CUSIP: 3133KPPB8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    271614 | PA      | $267857.94    | 0.18%             | 2052-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CANPACK SA/CANPACK US                          | Canpack SA / Canpack US LLC                                                     | CUSIP: 13806CAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |    154000 | PA      | $121561.39    | 0.08%             | 2029-11-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| EVERSOURCE ENERGY                              | Eversource Energy                                                               | CUSIP: 30040WAQ1<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | DBT              | CORP              | US        |     70000 | PA      | $64552.28     | 0.04%             | 2027-03-01      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| Sodexo SA                                      | Sodexo SA                                                                       | CUSIP: 000000000<br>LEI: 969500LCBOG12HXPYM84 | Long             | EC               | CORP              | FR        |     10920 | NS      | $1045959.82   | 0.72%             |  |  |  | No            |                  1 | On Loan: —       |
| Sacyr SA                                       | Sacyr SA                                                                        | CUSIP: 000000000<br>LEI: 959800XKAB9VNAVN9425 | Long             | EC               | CORP              | ES        |    177769 | NS      | $494761.35    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Occidental Petroleum Corp                      | Occidental Petroleum Corp                                                       | CUSIP: 674599105<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | EC               | CORP              | US        |      5627 | NS      | $354444.73    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF AMERICA CORP                           | Bank of America Corp                                                            | CUSIP: 06051GLC1<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     70000 | PA      | $72398.80     | 0.05%             | 2028-11-10      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                                                 | CUSIP: 3140XF5E7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    135205 | PA      | $134033.30    | 0.09%             | 2050-01-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Digital Realty Trust Inc                       | Digital Realty Trust Inc                                                        | CUSIP: 253868103<br>LEI: 549300HKCZ31D08NEI41 | Long             | EC               | CORP              | US        |      4210 | NS      | $422136.70    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| NEW COTAI EQUITY                               | NEW COTAI EQUITY                                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    318315 | NS      | $293566.32    | 0.20%             |  |  |  | No            |                  3 | On Loan: No      |
| KEY BANK NA                                    | KeyBank NA/Cleveland OH                                                         | CUSIP: 49327M3F9<br>LEI: HUX2X73FUCYHUVH1BK78 | Long             | DBT              | CORP              | US        |    280000 | PA      | $289511.10    | 0.20%             | 2027-11-15      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH                             | Commonwealth of Puerto Rico                                                     | CUSIP: 74514L3L9<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |      9800 | PA      | $8270.81      | 0.01%             | 2035-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Diageo PLC                                     | Diageo PLC                                                                      | CUSIP: 000000000<br>LEI: 213800ZVIELEA55JMJ32 | Long             | EC               | CORP              | GB        |     32770 | NS      | $1446031.14   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| ALLISON TRANSMISSION INC                       | Allison Transmission Inc                                                        | CUSIP: 019736AF4<br>LEI: MWKQ3I0U1GXP2YDSZW75 | Long             | DBT              | CORP              | US        |    440000 | PA      | $413985.00    | 0.28%             | 2029-06-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ARD FINANCE SA                                 | ARD Finance SA                                                                  | CUSIP: 00191AAD8<br>LEI: 6354006P6QPGGPVJW880 | Long             | DBT              | CORP              | LU        |    320000 | PA      | $223076.00    | 0.15%             | 2027-06-30      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ASBURY AUTOMOTIVE GROUP                        | Asbury Automotive Group Inc                                                     | CUSIP: 043436AV6<br>LEI: 549300JH4DTA7U42GL91 | Long             | DBT              | CORP              | US        |    345830 | PA      | $289700.62    | 0.20%             | 2030-03-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Kimco Realty Corp                              | Kimco Realty Corp                                                               | CUSIP: 49446R109<br>LEI: 549300EA7I6T15IBYS12 | Long             | EC               | CORP              | US        |     11120 | NS      | $235521.60    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard S&P 500 ETF                           | Vanguard S&P 500 ETF                                                            | CUSIP: 922908363<br>LEI: N/A                  | Long             | EC               | RF                | US        |       470 | NS      | $165129.80    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| CONSOLIDATED COMMUNICATI                       | Consolidated Communications Inc                                                 | CUSIP: 20903XAF0<br>LEI: 549300WW675Y48HDVX34 | Long             | DBT              | CORP              | US        |    620000 | PA      | $483327.63    | 0.33%             | 2028-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CK Asset Holdings Ltd                          | CK Asset Holdings Ltd                                                           | CUSIP: 000000000<br>LEI: 5299006GJZSGP78B8S35 | Long             | EC               | CORP              | HK        |     20000 | NS      | $123119.10    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| GRAY TELEVISION INC                            | Gray Television Inc                                                             | CUSIP: 389375AL0<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |    165000 | PA      | $119625.00    | 0.08%             | 2030-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| MIDAS OPCO HOLDINGS LLC                        | Stagwell Global LLC                                                             | CUSIP: 59565JAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    444000 | PA      | $366946.02    | 0.25%             | 2029-08-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                        | Frontier Communications Holdings LLC                                            | CUSIP: 35908MAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $157374.56    | 0.11%             | 2030-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Corteva Inc                                    | Corteva Inc                                                                     | CUSIP: 22052L104<br>LEI: 549300WZN9I2QKLS0O94 | Long             | EC               | CORP              | US        |      7192 | NS      | $422745.76    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Vale SA                                        | Vale SA                                                                         | CUSIP: 91912E105<br>LEI: 254900SMTWBX7RU2SR20 | Long             | EC               | CORP              | BR        |     27340 | NS      | $463959.80    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITE Group PLC/The                            | UNITE Group PLC/The                                                             | CUSIP: 000000000<br>LEI: 213800BBUUWVDH9YI827 | Long             | EC               | CORP              | GB        |      8170 | NS      | $89881.81     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| AIR LEASE CORP                                 | Air Lease Corp                                                                  | CUSIP: 00912XBJ2<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |    183000 | PA      | $153394.24    | 0.10%             | N/A             | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                       | Hilcorp Energy I LP / Hilcorp Finance Co                                        | CUSIP: 431318AV6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    225000 | PA      | $194919.46    | 0.13%             | 2031-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NCR CORP                                       | NCR Corp                                                                        | CUSIP: 62886EAV0<br>LEI: 549300YKTY8JX1DV2R67 | Long             | DBT              | CORP              | US        |    144000 | PA      | $134879.04    | 0.09%             | 2029-09-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| ZOETIS INC                                     | Zoetis Inc                                                                      | CUSIP: 98978VAU7<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | DBT              | CORP              | US        |     25000 | PA      | $25526.71     | 0.02%             | 2025-11-14      | Fixed         | 5.40%                 | No            |                  2 | On Loan: —       |
| VALERO ENERGY CORP                             | Valero Energy Corp                                                              | CUSIP: 91913YBD1<br>LEI: 549300XTO5VR8SKV1V74 | Long             | DBT              | CORP              | US        |    180000 | PA      | $127903.46    | 0.09%             | 2051-12-01      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| Tokyu REIT Inc                                 | Tokyu REIT Inc                                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |        55 | NS      | $86959.01     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Vonovia SE                                     | Vonovia SE                                                                      | CUSIP: 000000000<br>LEI: 5299005A2ZEP6AP7KM81 | Long             | EC               | CORP              | DE        |      6640 | NS      | $156513.49    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| NCR CORP                                       | NCR Corp                                                                        | CUSIP: 62886EAY4<br>LEI: 549300YKTY8JX1DV2R67 | Long             | DBT              | CORP              | US        |    318000 | PA      | $271624.25    | 0.19%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Rexford Industrial Realty Inc                  | Rexford Industrial Realty Inc                                                   | CUSIP: 76169C100<br>LEI: 549300MSLO0DF0EMX355 | Long             | EC               | CORP              | US        |      3110 | NS      | $169930.40    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Americold Realty Trust Inc                     | Americold Realty Trust Inc                                                      | CUSIP: 03064D108<br>LEI: 549300R7N1V5YV8MWH02 | Long             | EC               | CORP              | US        |      5290 | NS      | $149759.90    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| STAPLES INC                                    | Staples Inc                                                                     | CUSIP: 855030AP7<br>LEI: XQM2JINI1UL7642TU573 | Long             | DBT              | CORP              | US        |    947000 | PA      | $683430.96    | 0.47%             | 2027-04-15      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| TC Energy Corp                                 | TC Energy Corp                                                                  | CUSIP: 87807B107<br>LEI: 549300UGKOFV2IWJJG27 | Long             | EC               | CORP              | CA        |     12051 | NS      | $480437.95    | 0.33%             |  |  |  | No            |                  1 | On Loan: —       |
| Fannie Mae                                     | Fannie Mae Pool                                                                 | CUSIP: 3140JVP71<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    310397 | PA      | $287155.29    | 0.20%             | 2049-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                       | Occidental Petroleum Corp                                                       | CUSIP: 674599DF9<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    200000 | PA      | $204451.00    | 0.14%             | 2036-09-15      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| WESCO AIRCRAFT HOLDINGS                        | Wesco Aircraft Holdings Inc                                                     | CUSIP: 97789LAC0<br>LEI: 529900P5VTXZS191P208 | Long             | DBT              | CORP              | US        |    748000 | PA      | $370260.00    | 0.25%             | 2024-11-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| East Japan Railway Co                          | East Japan Railway Co                                                           | CUSIP: 000000000<br>LEI: 353800SENYJ2DSM6PS44 | Long             | EC               | CORP              | JP        |      8900 | NS      | $509966.47    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsui Fudosan Co Ltd                          | Mitsui Fudosan Co Ltd                                                           | CUSIP: 000000000<br>LEI: 353800ND4ZKNZDYKMF33 | Long             | EC               | CORP              | JP        |      2800 | NS      | $51566.60     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Ingredion Inc                                  | Ingredion Inc                                                                   | CUSIP: 457187102<br>LEI: PKSTQ48QDN0XSVS7YK88 | Long             | EC               | CORP              | US        |     11210 | NS      | $1097795.30   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Mapletree Pan Asia Commercial                  | Mapletree Pan Asia Commercial Trust                                             | CUSIP: 000000000<br>LEI: 549300BF18K4IC5LZ208 | Long             | EC               | CORP              | SG        |    101200 | NS      | $126178.89    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| NETSTREIT Corp                                 | NETSTREIT Corp                                                                  | CUSIP: 64119V303<br>LEI: 254900CJL0EDMEQ25Q84 | Long             | EC               | CORP              | US        |      6210 | NS      | $113829.30    | 0.08%             |  |  |  | No            |                  1 | On Loan: —       |
| CCO HLDGS LLC/CAP CORP                         | CCO Holdings LLC / CCO Holdings Capital Corp                                    | CUSIP: 1248EPCB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    890000 | PA      | $806807.25    | 0.55%             | 2029-06-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Koninklijke Ahold Delhaize NV                  | Koninklijke Ahold Delhaize NV                                                   | CUSIP: 000000000<br>LEI: 724500C9GNBV20UYRX36 | Long             | EC               | CORP              | NL        |     60240 | NS      | $1730748.09   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| H & M Hennes & Mauritz AB                      | H & M Hennes & Mauritz AB                                                       | CUSIP: 000000000<br>LEI: 529900O5RR7R39FRDM42 | Long             | EC               | CORP              | SE        |     61720 | NS      | $663876.61    | 0.45%             |  |  |  | No            |                  1 | On Loan: —       |
| Nutrien Ltd                                    | Nutrien Ltd                                                                     | CUSIP: 67077M108<br>LEI: 5493002QQ7GD21OWF963 | Long             | EC               | CORP              | CA        |      8201 | NS      | $598919.03    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Fastighets AB Balder                           | Fastighets AB Balder                                                            | CUSIP: 000000000<br>LEI: 549300GHKJCEZOAEUU82 | Long             | EC               | CORP              | SE        |      8630 | NS      | $40127.80     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| CHEMOURS CO                                    | Chemours Co/The                                                                 | CUSIP: 163851AF5<br>LEI: 549300M1BOLNXL8DOV14 | Long             | DBT              | CORP              | US        |    455000 | PA      | $409318.00    | 0.28%             | 2028-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| SOUTHWESTERN ENERGY CO                         | Southwestern Energy Co                                                          | CUSIP: 845467AS8<br>LEI: EFWMP121W54QV9MGOP87 | Long             | DBT              | CORP              | US        |    870000 | PA      | $795131.28    | 0.54%             | 2030-03-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| NEVADA POWER CO                                | Nevada Power Co                                                                 | CUSIP: 641423CF3<br>LEI: MJZFGXRJ52U8U4MKJ519 | Long             | DBT              | CORP              | US        |     95000 | PA      | $101861.54    | 0.07%             | 2053-05-01      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| MURPHY OIL CORP                                | Murphy Oil Corp                                                                 | CUSIP: 626717AN2<br>LEI: QBKYQD0ODE7DC7PDIN91 | Long             | DBT              | CORP              | US        |    885000 | PA      | $853122.03    | 0.58%             | 2028-07-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: —       |
| Hydro One Ltd                                  | Hydro One Ltd                                                                   | CUSIP: 448811208<br>LEI: 5493007QZDXTP1W2VL44 | Long             | EC               | CORP              | CA        |     18034 | NS      | $483082.11    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| ASCENT RESOURCES/ARU FIN                       | Ascent Resources Utica Holdings LLC / ARU Finance Corp                          | CUSIP: 04364VAU7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    174000 | PA      | $155369.82    | 0.11%             | 2029-06-30      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CALLON PETROLEUM CO                            | Callon Petroleum Co                                                             | CUSIP: 13123XBF8<br>LEI: 549300EFOWPEB0WLZW21 | Long             | DBT              | CORP              | US        |    145000 | PA      | $132863.50    | 0.09%             | 2030-06-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: —       |
| INDIANAPOLIS PWR & LIGHT                       | Indianapolis Power & Light Co                                                   | CUSIP: 455434BV1<br>LEI: 2T85JNP2R2B2GTSFND21 | Long             | DBT              | CORP              | US        |     60000 | PA      | $61726.68     | 0.04%             | 2032-12-01      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Equity Residential                             | Equity Residential                                                              | CUSIP: 29476L107<br>LEI: 5493008RACSH5EP3PI59 | Long             | EC               | CORP              | US        |      5290 | NS      | $312110.00    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| US TREASURY N/B                                | United States Treasury Note/Bond                                                | CUSIP: 912810TL2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    225000 | PA      | $225386.73    | 0.15%             | 2052-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| USA COM PART/USA COM FIN                       | USA Compression Partners LP / USA Compression Finance Corp                      | CUSIP: 91740PAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $48044.75     | 0.03%             | 2026-04-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| SEALED AIR CORP                                | Sealed Air Corp                                                                 | CUSIP: 81211KBA7<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | DBT              | CORP              | US        |    220000 | PA      | $207117.90    | 0.14%             | 2029-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FIRST QUANTUM MINERALS L                       | First Quantum Minerals Ltd                                                      | CUSIP: 335934AT2<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |    200000 | PA      | $188056.66    | 0.13%             | 2027-10-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                                                 | CUSIP: 31418EJ84<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     94432 | PA      | $94740.20     | 0.06%             | 2052-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Roche Holding AG                               | Roche Holding AG                                                                | CUSIP: 000000000<br>LEI: 549300U41AUUVOAAOB37 | Long             | EC               | CORP              | CH        |      2670 | NS      | $838841.72    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| US TREASURY N/B                                | United States Treasury Note/Bond                                                | CUSIP: 91282CFY2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    675000 | PA      | $670623.03    | 0.46%             | 2029-11-30      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| BELLATRIX EXPLORATION                          | Bellatrix Exploration Ltd                                                       | CUSIP: 078314AK7<br>LEI: 549300S2235IL73TH941 | Long             | DBT              | CORP              | CA        |    193000 | PA      | $0.00         | 0.00%             | 2023-12-15      | Variable      | 12.50%                | No            |                  3 | On Loan: No      |
| SVB FINANCIAL GROUP                            | SVB Financial Group                                                             | CUSIP: 78486QAS0<br>LEI: 549300D2KJ20JMXE7542 | Long             | DBT              | CORP              | US        |    100000 | PA      | $88750.66     | 0.06%             | 2033-04-29      | Fixed         | 4.57%                 | No            |                  2 | On Loan: —       |
| CVS HEALTH CORP                                | CVS Health Corp                                                                 | CUSIP: 126650DP2<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    170000 | PA      | $118083.31    | 0.08%             | 2040-08-21      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| ENDO LUXEMBOURG FINANCE                        | Endo Luxembourg Finance Co I Sarl                                               | CUSIP: 000000000<br>LEI: 222100B15VY0VVCTG251 | Long             | LON              | CORP              | LU        |    246875 | PA      | $201203.13    | 0.14%             | 2028-03-25      | Floating      | 9.39%                 | No            |                  2 | On Loan: No      |
| USA COM PART/USA COM FIN                       | USA Compression Partners LP / USA Compression Finance Corp                      | CUSIP: 91740PAF5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    285000 | PA      | $266932.51    | 0.18%             | 2027-09-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| HADRIAN MERGER SUB                             | Hadrian Merger Sub Inc                                                          | CUSIP: 42239PAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    347000 | PA      | $307166.14    | 0.21%             | 2026-05-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| MEDLINE BORROWER LP                            | Medline Borrower LP                                                             | CUSIP: 62482BAA0<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |    504000 | PA      | $407103.48    | 0.28%             | 2029-04-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Terna - Rete Elettrica Naziona                 | Terna - Rete Elettrica Nazionale                                                | CUSIP: 000000000<br>LEI: 8156009E94ED54DE7C31 | Long             | EC               | CORP              | IT        |     62886 | NS      | $464482.60    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| LAREDO PETROLEUM INC                           | Laredo Petroleum Inc                                                            | CUSIP: 516806AG1<br>LEI: 549300X0PTWU2QSLSL14 | Long             | DBT              | CORP              | US        |    440000 | PA      | $429763.09    | 0.29%             | 2028-01-15      | Fixed         | 10.12%                | No            |                  2 | On Loan: No      |
| Simon Property Group Inc                       | Simon Property Group Inc                                                        | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EC               | CORP              | US        |      1060 | NS      | $124528.80    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| NEWMONT CORP                                   | Newmont Corp                                                                    | CUSIP: 651639AZ9<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | DBT              | CORP              | US        |     15000 | PA      | $11982.29     | 0.01%             | 2032-07-15      | Fixed         | 2.60%                 | No            |                  2 | On Loan: —       |
| SIRIUS XM RADIO INC                            | Sirius XM Radio Inc                                                             | CUSIP: 82967NBG2<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |    815000 | PA      | $674383.98    | 0.46%             | 2030-07-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Unibail-Rodamco-Westfield                      | Unibail-Rodamco-Westfield                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | FR        |       890 | NS      | $46329.83     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Shaftesbury PLC                                | Shaftesbury PLC                                                                 | CUSIP: 000000000<br>LEI: 213800N7LHKFNTDKAT98 | Long             | EC               | CORP              | GB        |      6970 | NS      | $31009.08     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| COMPASS GROUP DIVERSIFIE                       | Compass Group Diversified Holdings LLC                                          | CUSIP: 20451RAB8<br>LEI: 549300I6PTUQPX21TE93 | Long             | DBT              | CORP              | US        |    208000 | PA      | $178274.93    | 0.12%             | 2029-04-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| National Grid PLC                              | National Grid PLC                                                               | CUSIP: 000000000<br>LEI: 8R95QZMKZLJX5Q2XR704 | Long             | EC               | CORP              | GB        |     40901 | NS      | $493187.01    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| SSE PLC                                        | SSE PLC                                                                         | CUSIP: 000000000<br>LEI: 549300KI75VYLLMSK856 | Long             | EC               | CORP              | GB        |     24051 | NS      | $497788.93    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| SmartCentres Real Estate Inves                 | SmartCentres Real Estate Investment Trust                                       | CUSIP: 83179X108<br>LEI: 549300HKEP2IYWZ14H97 | Long             | EC               | CORP              | CA        |      3050 | NS      | $60324.22     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| ORACLE CORP                                    | Oracle Corp                                                                     | CUSIP: 68389XCF0<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |     15000 | PA      | $15352.48     | 0.01%             | 2025-11-10      | Fixed         | 5.80%                 | No            |                  2 | On Loan: —       |
| PUERTO RICO CMWLTH                             | Commonwealth of Puerto Rico                                                     | CUSIP: 74514L3Q8<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |      4490 | PA      | $4163.22      | 0.00%             | 2024-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Capitaland Investment Ltd/Sing                 | Capitaland Investment Ltd/Singapore                                             | CUSIP: 000000000<br>LEI: 254900AT4UQDU7SNXX49 | Long             | EC               | CORP              | SG        |     39700 | NS      | $109668.51    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| ENDO LUX FIN CO I SARL                         | Endo Luxembourg Finance Co I Sarl / Endo US Inc                                 | CUSIP: 29280BAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |     38000 | PA      | $28898.00     | 0.02%             | 2029-04-01      | Variable      | 6.12%                 | No            |                  2 | On Loan: No      |
| Nestle SA                                      | Nestle SA                                                                       | CUSIP: 000000000<br>LEI: KY37LUS27QQX7BB93L28 | Long             | EC               | CORP              | CH        |     14640 | NS      | $1696349.54   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| GENESIS ENERGY LP/FIN                          | Genesis Energy LP / Genesis Energy Finance Corp                                 | CUSIP: 37185LAL6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $276618.00    | 0.19%             | 2028-02-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| ENTEGRIS ESCROW CORP                           | Entegris Escrow Corp                                                            | CUSIP: 29365BAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    525000 | PA      | $484837.50    | 0.33%             | 2030-06-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Black Stone Minerals LP                        | Black Stone Minerals LP                                                         | CUSIP: 09225M101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     33507 | NS      | $565263.09    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| VISTRA CORP                                    | Vistra Corp                                                                     | CUSIP: 92840MAC6<br>LEI: 549300KP43CPCUJOOG15 | Long             | DBT              | CORP              | US        |    855000 | PA      | $779228.36    | 0.53%             | N/A             | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Agree Realty Corp                              | Agree Realty Corp                                                               | CUSIP: 008492100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4090 | NS      | $290103.70    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| ALTICE FINANCING SA                            | Altice Financing SA                                                             | CUSIP: 02154CAH6<br>LEI: 549300DIYGW8HVDF7Q17 | Long             | DBT              | CORP              | LU        |    600000 | PA      | $473062.74    | 0.32%             | 2029-08-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Cellnex Telecom SA                             | Cellnex Telecom SA                                                              | CUSIP: 000000000<br>LEI: 5493008T4YG3AQUI7P67 | Long             | EC               | CORP              | ES        |     16214 | NS      | $536656.06    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Kimberly-Clark Corp                            | Kimberly-Clark Corp                                                             | CUSIP: 494368103<br>LEI: MP3J6QPYPGN75NVW2S34 | Long             | EC               | CORP              | US        |      9580 | NS      | $1300485.00   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| EOG Resources Inc                              | EOG Resources Inc                                                               | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |      5524 | NS      | $715468.48    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Wihlborgs Fastigheter AB                       | Wihlborgs Fastigheter AB                                                        | CUSIP: 000000000<br>LEI: 549300RC1YDJPITF8X06 | Long             | EC               | CORP              | SE        |      3800 | NS      | $28586.90     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| GENESIS ENERGY LP/FIN                          | Genesis Energy LP / Genesis Energy Finance Corp                                 | CUSIP: 37185LAM4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    519000 | PA      | $490880.58    | 0.34%             | 2027-01-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| JONES DESLAURIERS INSURA                       | Jones Deslauriers Insurance Management Inc                                      | CUSIP: 48020RAA3<br>LEI: 549300JQIWNFU00E5424 | Long             | DBT              | CORP              | CA        |    215000 | PA      | $212023.13    | 0.14%             | 2030-12-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| VISTRA CORP                                    | Vistra Operations Co LLC                                                        | CUSIP: 92840VAF9<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    117000 | PA      | $108844.34    | 0.07%             | 2027-07-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Parker-Hannifin Corp                           | Parker-Hannifin Corp                                                            | CUSIP: 701094104<br>LEI: 5493002CONDB4N2HKI23 | Long             | EC               | CORP              | US        |      1390 | NS      | $404490.00    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Enbridge Inc                                   | Enbridge Inc                                                                    | CUSIP: 29250N105<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | EC               | CORP              | CA        |     12772 | NS      | $499183.34    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Castellum AB                                   | Castellum AB                                                                    | CUSIP: 000000000<br>LEI: 549300GU5OHTR1T5IY68 | Long             | EC               | CORP              | SE        |      3370 | NS      | $40773.23     | 0.03%             |  |  |  | No            |                  1 | On Loan: —       |
| Visa Inc                                       | Visa Inc                                                                        | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |      3760 | NS      | $781177.60    | 0.53%             |  |  |  | No            |                  1 | On Loan: —       |
| Fabege AB                                      | Fabege AB                                                                       | CUSIP: 000000000<br>LEI: 549300JNPI46XNH0PM97 | Long             | EC               | CORP              | SE        |      4950 | NS      | $42076.79     | 0.03%             |  |  |  | No            |                  1 | On Loan: —       |
| Charter Hall Group                             | Charter Hall Group                                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |      9250 | NS      | $75448.39     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| PG&E CORP                                      | PG&E Corp                                                                       | CUSIP: 69331CAJ7<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | DBT              | CORP              | US        |    285000 | PA      | $259787.48    | 0.18%             | 2030-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: —       |
| Covivio                                        | Covivio                                                                         | CUSIP: 000000000<br>LEI: 969500P8M3W2XX376054 | Long             | EC               | CORP              | FR        |      1160 | NS      | $68853.48     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Healthpeak Properties Inc                      | Healthpeak Properties Inc                                                       | CUSIP: 42250P103<br>LEI: PZ9HF5U52KPF0MH0QN75 | Long             | EC               | CORP              | US        |      9440 | NS      | $236660.80    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| TELESAT CANADA/TELESAT L                       | Telesat Canada / Telesat LLC                                                    | CUSIP: 87952VAM8<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    118000 | PA      | $34318.09     | 0.02%             | 2027-10-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FORM TECHNOLOGIES LLC                          | Form Technologies LLC                                                           | CUSIP: 000000000<br>LEI: X7KHAIMGSSPZ1XIJIL51 | Long             | LON              | CORP              | US        |   1321828 | PA      | $1152193.94   | 0.79%             | 2025-07-22      | Floating      | 9.14%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                | United States Treasury Note/Bond                                                | CUSIP: 91282CBX8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2175900 | PA      | $2146015.54   | 1.47%             | 2023-04-30      | Fixed         | 0.12%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                              | Iron Mountain Inc                                                               | CUSIP: 46284VAJ0<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |   1150000 | PA      | $1001943.25   | 0.69%             | 2030-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MODIVCARE ESCROW ISSUER                        | ModivCare Escrow Issuer Inc                                                     | CUSIP: 60783XAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    478000 | PA      | $403718.80    | 0.28%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                  | Carnival Corp                                                                   | CUSIP: 143658BN1<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    266000 | PA      | $190394.82    | 0.13%             | 2027-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| APPLIED SYSTEMS INC                            | Applied Systems Inc                                                             | CUSIP: 000000000<br>LEI: 549300NSKGF0SY5SWQ62 | Long             | LON              | CORP              | US        |    454649 | PA      | $453512.60    | 0.31%             | 2027-09-19      | Floating      | 11.08%                | No            |                  2 | On Loan: No      |
| MATTERHORN TELECOM SA                          | Matterhorn Telecom SA                                                           | CUSIP: 000000000<br>LEI: 549300MTB0YI26SMUT22 | Long             | DBT              | CORP              | LU        |     69000 | PA      | $67117.83     | 0.05%             | 2026-09-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| Essex Property Trust Inc                       | Essex Property Trust Inc                                                        | CUSIP: 297178105<br>LEI: 549300TR2H2VEFX0NC60 | Long             | EC               | CORP              | US        |      1200 | NS      | $254304.00    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| CCR SA                                         | CCR SA                                                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |    232455 | NS      | $476379.20    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Sun Hung Kai Properties Ltd                    | Sun Hung Kai Properties Ltd                                                     | CUSIP: 000000000<br>LEI: 529900LUMD393RD3S874 | Long             | EC               | CORP              | HK        |     18000 | NS      | $246289.45    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Freddie Mac                                    | Freddie Mac Pool                                                                | CUSIP: 3133KYTE9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    295160 | PA      | $267954.09    | 0.18%             | 2040-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Smith & Nephew PLC                             | Smith & Nephew PLC                                                              | CUSIP: 000000000<br>LEI: 213800ZTMDN8S67S1H61 | Long             | EC               | CORP              | GB        |     95280 | NS      | $1278019.25   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| ORACLE CORP                                    | Oracle Corp                                                                     | CUSIP: 68389XCH6<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |     35000 | PA      | $36411.64     | 0.02%             | 2029-11-09      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| GFL ENVIRONMENTAL INC                          | GFL Environmental Inc                                                           | CUSIP: 36168QAF1<br>LEI: 549300FYK4MBXWIVZU26 | Long             | DBT              | CORP              | CA        |     78000 | PA      | $74719.13     | 0.05%             | 2026-12-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Freeport-McMoRan Inc                           | Freeport-McMoRan Inc                                                            | CUSIP: 35671D857<br>LEI: 549300IRDTHJQ1PVET45 | Long             | EC               | CORP              | US        |     11400 | NS      | $433200.00    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Studio City International Hold                 | Studio City International Holdings Ltd                                          | CUSIP: 86389T106<br>LEI: N/A                  | Long             | EC               | CORP              | HK        |     35484 | NS      | $211484.64    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Inmobiliaria Colonial Socimi S                 | Inmobiliaria Colonial Socimi SA                                                 | CUSIP: 000000000<br>LEI: 95980020140005007414 | Long             | EC               | CORP              | ES        |     10670 | NS      | $68644.43     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Mapletree Logistics Trust                      | Mapletree Logistics Trust                                                       | CUSIP: 000000000<br>LEI: 549300M9EBZIYH387075 | Long             | EC               | CORP              | SG        |     24100 | NS      | $28609.08     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| RLJ Lodging Trust                              | RLJ Lodging Trust                                                               | CUSIP: 74965L101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1130 | NS      | $11966.70     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| AMAZON.COM INC                                 | Amazon.com Inc                                                                  | CUSIP: 023135CH7<br>LEI: ZXTILKJKG63JELOEG630 | Long             | DBT              | CORP              | US        |     85000 | PA      | $78036.76     | 0.05%             | 2032-04-13      | Fixed         | 3.60%                 | No            |                  2 | On Loan: —       |
| BOYD GAMING CORP                               | Boyd Gaming Corp                                                                | CUSIP: 103304BV2<br>LEI: 254900787YGRYS2A1Z35 | Long             | DBT              | CORP              | US        |     15000 | PA      | $13067.70     | 0.01%             | 2031-06-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| AUTODESK INC                                   | Autodesk Inc                                                                    | CUSIP: 052769AH9<br>LEI: FRKKVKAIQEF3FCSTPG55 | Long             | DBT              | CORP              | US        |     35000 | PA      | $28049.74     | 0.02%             | 2031-12-15      | Fixed         | 2.40%                 | No            |                  2 | On Loan: —       |
| PARKER-HANNIFIN CORP                           | Parker-Hannifin Corp                                                            | CUSIP: 701094AR5<br>LEI: 5493002CONDB4N2HKI23 | Long             | DBT              | CORP              | US        |    210000 | PA      | $204098.48    | 0.14%             | 2027-09-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| LOCKHEED MARTIN CORP                           | Lockheed Martin Corp                                                            | CUSIP: 539830BR9<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | DBT              | CORP              | US        |     75000 | PA      | $70901.44     | 0.05%             | 2032-06-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| EQT Corp                                       | EQT Corp                                                                        | CUSIP: 26884L109<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | EC               | CORP              | US        |      3295 | NS      | $111469.85    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| BOYD GAMING CORP                               | Boyd Gaming Corp                                                                | CUSIP: 103304BU4<br>LEI: 254900787YGRYS2A1Z35 | Long             | DBT              | CORP              | US        |    680000 | PA      | $634331.20    | 0.43%             | 2027-12-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: —       |
| FORESIGHT ENERGY LLC                           | Foresight Energy LLC                                                            | CUSIP: 34552KAB2<br>LEI: 549300HM3UR1W0JJ7F28 | Long             | LON              | CORP              | US        |    212307 | PA      | $210183.51    | 0.14%             | 2027-06-30      | Floating      | 12.37%                | No            |                  2 | On Loan: No      |
| CALPINE CORP                                   | Calpine Corp                                                                    | CUSIP: 131347CQ7<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |    250000 | PA      | $210127.23    | 0.14%             | 2031-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pan American Silver Corp                       | Pan American Silver Corp                                                        | CUSIP: 697900108<br>LEI: 549300MKTF5851TYIB83 | Long             | EC               | CORP              | CA        |      9325 | NS      | $152202.73    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| AVIATION CAPITAL GROUP                         | Aviation Capital Group LLC                                                      | CUSIP: 05369AAA9<br>LEI: 549300ODEK8HY3445C77 | Long             | DBT              | CORP              | US        |    105000 | PA      | $91876.14     | 0.06%             | 2027-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| FORESIGHT ENERGY                               | FORESIGHT ENERGY                                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     31163 | NS      | $478978.08    | 0.33%             |  |  |  | No            |                  3 | On Loan: No      |
| STUDIO CITY INTL ADR                           | STUDIO CITY INTL ADR                                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     60131 | NS      | $358380.76    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITED PF HOLDINGS LLC                         | United PF Holdings LLC                                                          | CUSIP: 91132UAK9<br>LEI: 2549002AF6PASVP2G486 | Long             | LON              | CORP              | US        |     95743 | PA      | $86168.82     | 0.06%             | 2026-11-12      | Floating      | 12.79%                | No            |                  2 | On Loan: No      |
| Kinross Gold Corp                              | Kinross Gold Corp                                                               | CUSIP: 496902404<br>LEI: 549300UEBMAQDN0K0R06 | Long             | EC               | CORP              | CA        |     70405 | NS      | $287956.45    | 0.20%             |  |  |  | No            |                  1 | On Loan: —       |
| Goodman Group                                  | Goodman Group                                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |      9710 | NS      | $114767.89    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| MLN US HOLDCO LLC                              | MLN US HOLDCO LLC                                                               | CUSIP: 55292HAJ2<br>LEI: 549300QKU7NPW6O86862 | Long             | LON              | CORP              | US        |    871480 | PA      | $705899.10    | 0.48%             | 2027-10-18      | Floating      | 11.12%                | No            |                  2 | On Loan: No      |
| SOUTHERN CO                                    | Southern Co/The                                                                 | CUSIP: 842587DL8<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |     45000 | PA      | $46171.49     | 0.03%             | 2032-10-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                  | Citigroup Inc                                                                   | CUSIP: 172967NX5<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    115000 | PA      | $115612.89    | 0.08%             | 2026-09-29      | Fixed         | 5.61%                 | No            |                  2 | On Loan: No      |
| JBS USA/FOOD/FINANCE                           | JBS USA LUX SA / JBS USA Food Co / JBS USA Finance Inc                          | CUSIP: 46590XAF3<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |    120000 | PA      | $99577.75     | 0.07%             | 2029-02-02      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                        | Frontier Communications Holdings LLC                                            | CUSIP: 35908MAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    310847 | PA      | $240898.90    | 0.16%             | 2029-11-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Equity LifeStyle Properties In                 | Equity LifeStyle Properties Inc                                                 | CUSIP: 29472R108<br>LEI: 529900PEQG66LENB6798 | Long             | EC               | CORP              | US        |      2710 | NS      | $175066.00    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| ATMOS ENERGY CORP                              | Atmos Energy Corp                                                               | CUSIP: 049560AY1<br>LEI: QVLWEGTD2S8GJMO8D383 | Long             | DBT              | CORP              | US        |     80000 | PA      | $84010.60     | 0.06%             | 2052-10-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Alcoa Corp                                     | Alcoa Corp                                                                      | CUSIP: 013872106<br>LEI: 549300T12EZ1F6PWWU29 | Long             | EC               | CORP              | US        |      9119 | NS      | $414640.93    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Chesapeake Energy Corp                         | Chesapeake Energy Corp                                                          | CUSIP: 165167735<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | EC               | CORP              | US        |      3720 | NS      | $351056.40    | 0.24%             |  |  |  | No            |                  1 | On Loan: —       |
| EATON CORP                                     | Eaton Corp                                                                      | CUSIP: 278062AH7<br>LEI: 0NZWDMRCE180888QQE14 | Long             | DBT              | CORP              | US        |    120000 | PA      | $111933.73    | 0.08%             | 2033-03-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Essity AB                                      | Essity AB                                                                       | CUSIP: 000000000<br>LEI: 549300G8E6YUVJ1DA153 | Long             | EC               | CORP              | SE        |     39740 | NS      | $1040833.55   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN HOMES 4 RENT                          | American Homes 4 Rent LP                                                        | CUSIP: 02666TAE7<br>LEI: 549300N4PXZ37U8QKI55 | Long             | DBT              | CORP              | US        |     45000 | PA      | $37972.70     | 0.03%             | 2032-04-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Kite Realty Group Trust                        | Kite Realty Group Trust                                                         | CUSIP: 49803T300<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6220 | NS      | $130931.00    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Sumitomo Realty & Development                  | Sumitomo Realty & Development Co Ltd                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      8700 | NS      | $206893.48    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Federal Realty Investment Trus                 | Federal Realty Investment Trust                                                 | CUSIP: 313745101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1070 | NS      | $108112.80    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                                                 | CUSIP: 3140QK6D5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    293240 | PA      | $267379.06    | 0.18%             | 2051-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                           | Bank of America Corp                                                            | CUSIP: 06051GKY4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    165000 | PA      | $157136.91    | 0.11%             | 2033-07-22      | Fixed         | 5.01%                 | No            |                  2 | On Loan: No      |
| Alexandria Real Estate Equitie                 | Alexandria Real Estate Equities Inc                                             | CUSIP: 015271109<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | EC               | CORP              | US        |      2880 | NS      | $419529.60    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR S&P Global Natural Resources ETF          | SPDR S&P Global Natural Resources ETF                                           | CUSIP: 78463X541<br>LEI: 549300TY1RVQ2C1UO359 | Long             | EC               | RF                | US        |     13291 | NS      | $757852.82    | 0.52%             |  |  |  | No            |                  1 | On Loan: —       |
| MAJORDRIVE HOLDINGS IV L                       | MajorDrive Holdings IV LLC                                                      | CUSIP: 56085RAA8<br>LEI: 25490044R1FR5N8FIT62 | Long             | DBT              | CORP              | US        |    669000 | PA      | $500071.48    | 0.34%             | 2029-06-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Vanguard Global ex-U.S. Real Estate ETF        | Vanguard Global ex-U.S. Real Estate ETF                                         | CUSIP: 922042676<br>LEI: N/A                  | Long             | EC               | RF                | US        |       330 | NS      | $13642.20     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| American Homes 4 Rent                          | American Homes 4 Rent                                                           | CUSIP: 02665T306<br>LEI: 549300ZJUO7A58PNUW40 | Long             | EC               | CORP              | US        |      7010 | NS      | $211281.40    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Kao Corp                                       | Kao Corp                                                                        | CUSIP: 000000000<br>LEI: 353800HM38HFCB8RGL63 | Long             | EC               | CORP              | JP        |     21300 | NS      | $852876.41    | 0.58%             |  |  |  | No            |                  1 | On Loan: —       |
| Air Liquide SA                                 | Air Liquide SA                                                                  | CUSIP: 000000000<br>LEI: 969500MMPQVHK671GT54 | Long             | EC               | CORP              | FR        |      9180 | NS      | $1301059.18   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| STATE STREET CORP                              | State Street Corp                                                               | CUSIP: 857477BS1<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |     75000 | PA      | $67479.51     | 0.05%             | 2028-02-07      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Freddie Mac Pool                                                                | CUSIP: 3132DNVR1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    171328 | PA      | $161602.93    | 0.11%             | 2052-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ASBURY AUTOMOTIVE GROUP                        | Asbury Automotive Group Inc                                                     | CUSIP: 043436AU8<br>LEI: 549300JH4DTA7U42GL91 | Long             | DBT              | CORP              | US        |    344830 | PA      | $304024.54    | 0.21%             | 2028-03-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| VICI PROPERTIES LP                             | VICI Properties LP                                                              | CUSIP: 925650AC7<br>LEI: 254900X4QE7SGKQLLN38 | Long             | DBT              | CORP              | US        |     75000 | PA      | $71495.05     | 0.05%             | 2030-02-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: —       |
| Link REIT                                      | Link REIT                                                                       | CUSIP: 000000000<br>LEI: 529900XUE70U36QX5M62 | Long             | EC               | CORP              | HK        |     22823 | NS      | $167544.20    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITED RENTALS NORTH AM                        | United Rentals North America Inc                                                | CUSIP: 911365BQ6<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |    215000 | PA      | $214070.13    | 0.15%             | 2029-12-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| HAT HOLDINGS I LLC/HAT                         | HAT Holdings I LLC / HAT Holdings II LLC                                        | CUSIP: 418751AE3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     73000 | PA      | $63523.87     | 0.04%             | 2026-06-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| CRESTWOOD MID PARTNER LP                       | Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp              | CUSIP: 226373AQ1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    172000 | PA      | $160255.84    | 0.11%             | 2027-05-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| HUB INTERNATIONAL LTD                          | HUB International Ltd                                                           | CUSIP: 44332PAG6<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |    530000 | PA      | $463581.67    | 0.32%             | 2029-12-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| FELLS POINT FUNDING TR                         | Fells Point Funding Trust                                                       | CUSIP: 314382AA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $91151.65     | 0.06%             | 2027-01-31      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| adidas AG                                      | adidas AG                                                                       | CUSIP: 000000000<br>LEI: 549300JSX0Z4CW0V5023 | Long             | EC               | CORP              | DE        |      7070 | NS      | $964627.67    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| GRIFOLS ESCROW ISSUER                          | Grifols Escrow Issuer SA                                                        | CUSIP: 39843UAA0<br>LEI: 959800HLB3PGTGSLVV62 | Long             | DBT              | CORP              | ES        |    133000 | PA      | $114998.45    | 0.08%             | 2028-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: —       |
| Snam SpA                                       | Snam SpA                                                                        | CUSIP: 000000000<br>LEI: 8156002278562044AF79 | Long             | EC               | CORP              | IT        |    102442 | NS      | $496426.47    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Wheaton Precious Metals Corp                   | Wheaton Precious Metals Corp                                                    | CUSIP: 962879102<br>LEI: 549300XSFG5ZCGVYD886 | Long             | EC               | CORP              | CA        |      9109 | NS      | $355979.72    | 0.24%             |  |  |  | No            |                  1 | On Loan: —       |
| MIDCAP FINANCIAL ISSR TR                       | Midcap Financial Issuer Trust                                                   | CUSIP: 59567LAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    210000 | PA      | $180907.65    | 0.12%             | 2028-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                          | Wells Fargo & Co                                                                | CUSIP: 95000U3A9<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |     85000 | PA      | $83159.21     | 0.06%             | 2028-07-25      | Fixed         | 4.81%                 | No            |                  2 | On Loan: No      |
| NCR CORP                                       | NCR Corp                                                                        | CUSIP: 62886EBA5<br>LEI: 549300YKTY8JX1DV2R67 | Long             | DBT              | CORP              | US        |    475000 | PA      | $398101.40    | 0.27%             | 2029-04-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Japan Real Estate Investment C                 | Japan Real Estate Investment Corp                                               | CUSIP: 000000000<br>LEI: 3538003YAIR3CBGJJ928 | Long             | EC               | CORP              | JP        |        23 | NS      | $101120.09    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Securitas AB                                   | Securitas AB                                                                    | CUSIP: 000000000<br>LEI: 635400TTYKE8EIWDS617 | Long             | EC               | CORP              | SE        |    128340 | NS      | $1069535.87   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| FRONTIER COMMUNICATIONS                        | Frontier Communications Holdings LLC                                            | CUSIP: 35906ABE7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    359000 | PA      | $334146.43    | 0.23%             | 2027-10-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Vanguard International High Dividend Yield ETF | Vanguard International High Dividend Yield ETF                                  | CUSIP: 921946794<br>LEI: N/A                  | Long             | EC               | RF                | US        |     50022 | NS      | $2979810.54   | 2.04%             |  |  |  | No            |                  1 | On Loan: No      |
| FORD MOTOR COMPANY                             | Ford Motor Co                                                                   | CUSIP: 345370CQ1<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |    210000 | PA      | $151210.06    | 0.10%             | 2043-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| JONES DESLAURIERS INSURA                       | Jones Deslauriers Insurance Management Inc                                      | CUSIP: 000000000<br>LEI: 549300JQIWNFU00E5424 | Long             | LON              | CORP              | CA        |    125360 | PA      | $86104.17     | 0.06%             | 2028-03-26      | Floating      | 9.11%                 | No            |                  2 | On Loan: No      |
| Vanguard Real Estate ETF                       | Vanguard Real Estate ETF                                                        | CUSIP: 922908553<br>LEI: N/A                  | Long             | EC               | RF                | US        |       190 | NS      | $15671.20     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Aena SME SA                                    | Aena SME SA                                                                     | CUSIP: 000000000<br>LEI: 959800R7QMXKF0NFMT29 | Long             | EC               | CORP              | ES        |      3706 | NS      | $465339.39    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| American Tower Corp                            | American Tower Corp                                                             | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |       580 | NS      | $122878.80    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                         | CCO Holdings LLC / CCO Holdings Capital Corp                                    | CUSIP: 1248EPCE1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    696000 | PA      | $576573.36    | 0.39%             | 2030-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FIFTH THIRD BANCORP                            | Fifth Third Bancorp                                                             | CUSIP: 316773DF4<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |     30000 | PA      | $27495.34     | 0.02%             | 2033-04-25      | Fixed         | 4.34%                 | No            |                  2 | On Loan: No      |
| CNX MIDSTREAM PART LP                          | CNX Midstream Partners LP                                                       | CUSIP: 12654AAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     40000 | PA      | $32878.60     | 0.02%             | 2030-04-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                                                 | CUSIP: 3140K45H9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    402312 | PA      | $356525.58    | 0.24%             | 2050-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                       | Warnermedia Holdings Inc                                                        | CUSIP: 55903VAQ6<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |     90000 | PA      | $65774.46     | 0.04%             | 2052-03-15      | Fixed         | 5.14%                 | No            |                  2 | On Loan: No      |
| PETSMART INC/PETSMART FI                       | PetSmart Inc / PetSmart Finance Corp                                            | CUSIP: 71677KAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    650000 | PA      | $611693.88    | 0.42%             | 2029-02-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| ATMOS ENERGY CORP                              | Atmos Energy Corp                                                               | CUSIP: 049560AW5<br>LEI: QVLWEGTD2S8GJMO8D383 | Long             | DBT              | CORP              | US        |     45000 | PA      | $29326.95     | 0.02%             | 2052-02-15      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| Riverbed Holdings Inc.                         | Riverbed Holdings Inc.                                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     31305 | NS      | $7826.25      | 0.01%             |  |  |  | No            |                  3 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                                                 | CUSIP: 31418DRV6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    358877 | PA      | $329296.39    | 0.23%             | 2035-08-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Chord Energy Corp                              | Chord Energy Corp                                                               | CUSIP: 674215207<br>LEI: 529900FA4V2YNIKZ0M71 | Long             | EC               | CORP              | US        |      1153 | NS      | $157741.93    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Ryman Hospitality Properties I                 | Ryman Hospitality Properties Inc                                                | CUSIP: 78377T107<br>LEI: 529900GCCWW9SRMPJR11 | Long             | EC               | CORP              | US        |      1420 | NS      | $116127.60    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMORGAN CHASE & CO                            | JPMorgan Chase & Co                                                             | CUSIP: 46647PBX3<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    285000 | PA      | $218660.98    | 0.15%             | 2032-02-04      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| NUSTAR LOGISTICS LP                            | NuStar Logistics LP                                                             | CUSIP: 67059TAF2<br>LEI: N62BF2PKP51FIIOIUN20 | Long             | DBT              | CORP              | US        |    441000 | PA      | $425400.60    | 0.29%             | 2026-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                                                 | CUSIP: 3140QQPB5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    188168 | PA      | $188673.37    | 0.13%             | 2052-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SENSATA TECHNOLOGIES BV                        | Sensata Technologies BV                                                         | CUSIP: 81725WAK9<br>LEI: PUCKW5P5O3XMOZVH7T53 | Long             | DBT              | CORP              | NL        |    360000 | PA      | $310986.00    | 0.21%             | 2029-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Derwent London PLC                             | Derwent London PLC                                                              | CUSIP: 000000000<br>LEI: 213800BXKQ9KZNUR1M61 | Long             | EC               | CORP              | GB        |      1670 | NS      | $47808.65     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMORGAN CHASE & CO                            | JPMorgan Chase & Co                                                             | CUSIP: 46647PDG8<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    115000 | PA      | $112288.90    | 0.08%             | 2028-07-25      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Nomura Real Estate Master Fund                 | Nomura Real Estate Master Fund Inc                                              | CUSIP: 000000000<br>LEI: 353800TNNZOQ1CPZE086 | Long             | EC               | CORP              | JP        |       160 | NS      | $198719.90    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| DIG INTL FIN/DIG INTL HL                       | Digicel International Finance Ltd/Digicel international Holdings Ltd            | CUSIP: 25381XAC7<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |    142981 | PA      | $63220.48     | 0.04%             | 2026-12-31      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Swatch Group AG/The                            | Swatch Group AG/The                                                             | CUSIP: 000000000<br>LEI: 529900NTES2LEON1JZ55 | Long             | EC               | CORP              | CH        |      3420 | NS      | $972757.26    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Bunge Ltd                                      | Bunge Ltd                                                                       | CUSIP: 000000000<br>LEI: 5493007M0RIN8HY3MM77 | Long             | EC               | CORP              | US        |      4579 | NS      | $456846.83    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.    | US TREASURY LONG BOND                                                           | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |        -4 | NC      | $5740.12      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Warehouses De Pauw CVA                         | Warehouses De Pauw CVA                                                          | CUSIP: 000000000<br>LEI: 549300HWDYC5JXC85138 | Long             | EC               | CORP              | BE        |      3890 | NS      | $111180.15    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Freddie Mac                                    | Freddie Mac Pool                                                                | CUSIP: 3132DWE82<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     84305 | PA      | $84580.91     | 0.06%             | 2052-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| UDR Inc                                        | UDR Inc                                                                         | CUSIP: 902653104<br>LEI: P3CH2EG5X6Z1XWU1OO74 | Long             | EC               | CORP              | US        |      7230 | NS      | $280017.90    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| NFP CORP                                       | NFP Corp                                                                        | CUSIP: 65342RAF7<br>LEI: VO2L9FZNXDJNQNEYH039 | Long             | DBT              | CORP              | US        |    155000 | PA      | $146718.92    | 0.10%             | 2030-10-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                       | Hilcorp Energy I LP / Hilcorp Finance Co                                        | CUSIP: 431318AZ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    520000 | PA      | $449480.62    | 0.31%             | 2032-04-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| FIFTH THIRD BANCORP                            | Fifth Third Bancorp                                                             | CUSIP: 316773DJ6<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |     20000 | PA      | $20613.29     | 0.01%             | 2028-10-27      | Fixed         | 6.36%                 | No            |                  2 | On Loan: No      |
| CONSOLIDATED COMMUNICATI                       | Consolidated Communications Inc                                                 | CUSIP: 20903XAH6<br>LEI: 549300WW675Y48HDVX34 | Long             | DBT              | CORP              | US        |    122000 | PA      | $90129.61     | 0.06%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AHERN RENTALS INC                              | Ahern Rentals Inc                                                               | CUSIP: 008674AH6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    475000 | PA      | $475000.00    | 0.32%             | 2023-05-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                  | Carnival Corp                                                                   | CUSIP: 143658BL5<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    976000 | PA      | $775299.95    | 0.53%             | 2026-03-01      | Fixed         | 7.62%                 | No            |                  2 | On Loan: —       |
| Shell PLC                                      | Shell PLC                                                                       | CUSIP: 000000000<br>LEI: 21380068P1DRHMJ8KU70 | Long             | EC               | CORP              | GB        |     23447 | NS      | $659333.79    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                                                 | CUSIP: 31418EHF0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     63731 | PA      | $60377.39     | 0.04%             | 2042-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SUNSET DEBT MERGER SUB INC                     | Sunset Debt Merger Sub Inc                                                      | CUSIP: 78489HAB4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    168155 | PA      | $138223.41    | 0.09%             | 2028-10-06      | Floating      | 8.37%                 | No            |                  2 | On Loan: No      |
| Archer-Daniels-Midland Co                      | Archer-Daniels-Midland Co                                                       | CUSIP: 039483102<br>LEI: 549300LO13MQ9HYSTR83 | Long             | EC               | CORP              | US        |      3980 | NS      | $369543.00    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| DigitalBridge Group Inc                        | DigitalBridge Group Inc                                                         | CUSIP: 25401T603<br>LEI: 549300XG87L902AGBO89 | Long             | EC               | CORP              | US        |      3600 | NS      | $39384.00     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| HIGHLAND HOLDINGS BOND                         | Highlands Holdings Bond Issuer Ltd / Highlands Holdings Bond Co-Issuer Inc      | CUSIP: 43103QAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |    475095 | PA      | $444514.66    | 0.30%             | 2025-10-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| ADVANTAGE SALES & MARKET                       | Advantage Sales & Marketing Inc                                                 | CUSIP: 00775PAA5<br>LEI: 549300T4O24KQDED1182 | Long             | DBT              | CORP              | US        |    806000 | PA      | $615767.88    | 0.42%             | 2028-11-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CONSENSUS CLOUD SOLUTION                       | Consensus Cloud Solutions Inc                                                   | CUSIP: 20848VAB1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    203000 | PA      | $186976.91    | 0.13%             | 2028-10-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Newmont Corp                                   | Newmont Corp                                                                    | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | EC               | CORP              | US        |     11741 | NS      | $554175.20    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Orsted AS                                      | Orsted AS                                                                       | CUSIP: 000000000<br>LEI: W9NG6WMZIYEU8VEDOG48 | Long             | EC               | CORP              | DK        |      5746 | NS      | $522175.65    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| LITHIA MOTORS INC                              | Lithia Motors Inc                                                               | CUSIP: 536797AG8<br>LEI: SE8N1EZEHPZQBCBVKD53 | Long             | DBT              | CORP              | US        |    199000 | PA      | $163887.45    | 0.11%             | 2029-06-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: —       |

### Signature

**Date Signed:** 2023-02-22

**Name of Applicant:** IVY FUNDS

**Signature:** Dan Geatens

**Name of Signer:** Dan Geatens

**Title:** Division Director - Head of US Fund Administration