# EDGAR Filing Document

**Accession Number:** 0001717457
**File Stem:** 0001145549-23-021670
**Filing Date:** 2023-3
**Character Count:** 333691
**Document Hash:** 304768b0b41f5eea50cca71b0075e92e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-23-021670.hdr.sgml**: 20230331

**ACCESSION NUMBER**: 0001145549-23-021670

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230331

**DATE AS OF CHANGE**: 20230331

**PERIOD START**: 20231031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Calamos Long/Short Equity & Dynamic Income Trust
- **CENTRAL INDEX KEY:** 0001717457
- **IRS NUMBER:** 000000000
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23295
- **FILM NUMBER:** 23786963

**BUSINESS ADDRESS:**
- **STREET 1:** 2020 CALAMOS COURT
- **CITY:** NAPERVILLE
- **STATE:** IL
- **ZIP:** 60563
- **BUSINESS PHONE:** 630-245-7200

**MAIL ADDRESS:**
- **STREET 1:** 2020 CALAMOS COURT
- **CITY:** NAPERVILLE
- **STATE:** IL
- **ZIP:** 60563

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Calamos Long/Short Equity & Dynamic Income Term Trust
- **DATE OF NAME CHANGE:** 20190604

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Calamos Long/Short Equity & Income 2028 Term Trust
- **DATE OF NAME CHANGE:** 20171107

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Calamos Long/Short Equity Income 2028 Term Trust
- **DATE OF NAME CHANGE:** 20170919

## Nport-Ex

## Calamos Long/Short Equity & Dynamic Income Trust
 **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)**<br>

---

| | | |
|:---|:---|:---|
| **PRINCIPAL <br> AMOUNT** | | **VALUE** |
| **CORPORATE BONDS (31.8%)** | **CORPORATE BONDS (31.8%)** | **CORPORATE BONDS (31.8%)** |
|  | ***Airlines (0.3%)*** |  |
| 282250 | &nbsp;&nbsp;&nbsp;&nbsp; Air Canada Pass Through Trust Series 2015-1, Class B\*~<br> 3.875%, 09/15/24 | $281152 |
| 39333 | &nbsp;&nbsp;&nbsp;&nbsp; Air Canada Pass Through Trust Series 2015-2, Class B\*~<br> 5.000%, 06/15/25 | 38343 |
| 189724 | &nbsp;&nbsp;&nbsp;&nbsp; Alaska Airlines Pass Through Trust Series 2020-1, Class A\*~µ<br> 4.800%, 02/15/29 | 185219 |
| 110582 | &nbsp;&nbsp;&nbsp;&nbsp; Alaska Airlines Pass Through Trust Series 2020-1, Class B\*~<br> 8.000%, 02/15/27 | 112796 |
| 206083 | &nbsp;&nbsp;&nbsp;&nbsp; British Airways Pass Through Trust Series 2021-1, Class B\*~<br> 3.900%, 03/15/33 | 176209 |
| 145603 | &nbsp;&nbsp;&nbsp;&nbsp; JetBlue Pass Through Trust Series 2020-1, Class B~<br> 7.750%, 05/15/30 | 143734 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Spirit Loyalty Cayman, Ltd. / Spirit IP Cayman, Ltd.\* |  |
| 130000 | &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 09/20/25 | 133097 |
| 114000 | &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 09/20/25~ | 116376 |
| 85107 | &nbsp;&nbsp;&nbsp;&nbsp; United Airlines Pass Through Trust Series 2019-2, Class B<br> 3.500%, 11/01/29 | 76456 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1263382 |
|  | ***Communication Services (1.8%)*** |  |
| 225000 | &nbsp;&nbsp;&nbsp;&nbsp; Altice France, SA\*~<br> 5.500%, 10/15/29 | 178004 |
| 225000 | &nbsp;&nbsp;&nbsp;&nbsp; APi Group DE, Inc.\*~<br> 4.750%, 10/15/29 | 203159 |
| 335000 | &nbsp;&nbsp;&nbsp;&nbsp; Arrow Bidco, LLC\*~<br> 9.500%, 03/15/24 | 336913 |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; Ashtead Capital, Inc.\*<br> 2.450%, 08/12/31 | 161598 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Audacy Capital Corp.\* |  |
| 231000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 03/31/29 | 41513 |
| 91000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 05/01/27~ | 15844 |
| 144000 | &nbsp;&nbsp;&nbsp;&nbsp; Beasley Mezzanine Holdings, LLC\*<br> 8.625%, 02/01/26 | 94176 |
| 136000 | &nbsp;&nbsp;&nbsp;&nbsp; Cincinnati Bell Telephone Company, LLC~<br> 6.300%, 12/01/28 | 122514 |
| 45000 | &nbsp;&nbsp;&nbsp;&nbsp; CMG Media Corp.\*<br> 8.875%, 12/15/27 | 35267 |
| 285000 | &nbsp;&nbsp;&nbsp;&nbsp; Consolidated Communications,<br> Inc.\*~<br> 6.500%, 10/01/28 | 232987 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; CSC Holdings, LLC\*~ |  |
| 285000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 02/01/28 | 239782 |
| 215000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 11/15/31 | 158636 |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 01/15/30 | 126412 |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 12/01/30 | 118504 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Diamond Sports Group, LLC / Diamond Sports Finance Company\* |  |
| 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 08/15/27 | 3147 |
| 115000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 08/15/26 | 8500 |

---

---

| | | |
|:---|:---|:---|
| **PRINCIPAL <br> AMOUNT** | | **VALUE** |
| 264000 | &nbsp;&nbsp;&nbsp;&nbsp; Directv Financing, LLC / Directv Financing Co-Obligor, Inc.\*~<br> 5.875%, 08/15/27 | $239543 |
| 135000 | &nbsp;&nbsp;&nbsp;&nbsp; Embarq Corp.<br> 7.995%, 06/01/36 | 65224 |
| 195000 | &nbsp;&nbsp;&nbsp;&nbsp; Frontier California, Inc.~<br> 6.750%, 05/15/27 | 184844 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Frontier Communications Holdings, LLC\*~ |  |
| 123000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 05/01/28 | 111726 |
| 48000 | &nbsp;&nbsp;&nbsp;&nbsp; 8.750%, 05/15/30 | 49764 |
| 202000 | &nbsp;&nbsp;&nbsp;&nbsp; Frontier Florida, LLC@~<br> 6.860%, 02/01/28 | 187910 |
| 280000 | &nbsp;&nbsp;&nbsp;&nbsp; Frontier North, Inc.@<br> 6.730%, 02/15/28 | 259286 |
| 165000 | &nbsp;&nbsp;&nbsp;&nbsp; Go Daddy Operating Company, LLC / GD Finance Company, Inc.\*~<br> 3.500%, 03/01/29 | 142931 |
| 145000 | &nbsp;&nbsp;&nbsp;&nbsp; Intelsat Jackson Holdings, SA\*~@<br> 9.750%, 07/15/25 |  |
| 230000 | &nbsp;&nbsp;&nbsp;&nbsp; LCPR Senior Secured Financing DAC\*~<br> 6.750%, 10/15/27 | 224172 |
| 140686 | &nbsp;&nbsp;&nbsp;&nbsp; Ligado Networks, LLC\*<br> 15.500%, 11/01/23<br> PIK rate | 49263 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Lumen Technologies, Inc.~ |  |
| 280000 | &nbsp;&nbsp;&nbsp;&nbsp; 7.600%, 09/15/39 | 189546 |
| 92000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 01/15/29\* | 61914 |
| 95000 | &nbsp;&nbsp;&nbsp;&nbsp; Match Group Holdings II, LLC\*~<br> 3.625%, 10/01/31 | 76332 |
| 240000 | &nbsp;&nbsp;&nbsp;&nbsp; Netflix, Inc.\*~<br> 4.875%, 06/15/30 | 237902 |
| 490000 | &nbsp;&nbsp;&nbsp;&nbsp; Paramount Global~‡<br> 6.375%, 03/30/62<br> 5 year CMT + 4.00% | 426849 |
| 595000 | &nbsp;&nbsp;&nbsp;&nbsp; Rogers Communications, Inc.\*~‡<br> 5.250%, 03/15/82<br> 5 year CMT + 3.59% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;539689 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Scripps Escrow II, Inc.\*~ |  |
| 95000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 01/15/29 | 79842 |
| 48000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 01/15/31 | 38765 |
| 195000 | &nbsp;&nbsp;&nbsp;&nbsp; Scripps Escrow, Inc.\*~<br> 5.875%, 07/15/27 | 174305 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Sirius XM Radio, Inc.\*~ |  |
| 140000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 07/15/28 | 124641 |
| 90000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 09/01/26 | 81237 |
| 48000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 09/01/31 | 39541 |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Spanish Broadcasting System, Inc.\*<br> 9.750%, 03/01/26 | 59125 |
| 165000 | &nbsp;&nbsp;&nbsp;&nbsp; Sprint, LLC<br> 7.125%, 06/15/24 | 168802 |
| 165000 | &nbsp;&nbsp;&nbsp;&nbsp; Stagwell Global, LLC\*~<br> 5.625%, 08/15/29 | 144794 |
| 190000 | &nbsp;&nbsp;&nbsp;&nbsp; Telesat Canada / Telesat, LLC\*~<br> 4.875%, 06/01/27 | 87444 |
| 70000 | &nbsp;&nbsp;&nbsp;&nbsp; Time Warner Cable, LLC<br> 7.300%, 07/01/38 | 75279 |
| 320000 | &nbsp;&nbsp;&nbsp;&nbsp; United States Cellular Corp.~<br> 6.700%, 12/15/33 | 297824 |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Long/Short Equity & Dynamic Income Trust** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL <br> AMOUNT** | | **VALUE** | **VALUE** | **VALUE** |
| 395000 | &nbsp;&nbsp;&nbsp;&nbsp; Vodafone Group, PLC~‡<br> 7.000%, 04/04/79<br> U.S. 5 yr Swap + 4.87% | $| 407794 |  |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6903244 |  |
|  | ***Consumer Discretionary (3.3%)*** | ***Consumer Discretionary (3.3%)*** | ***Consumer Discretionary (3.3%)*** | **** |
| 228000 | &nbsp;&nbsp;&nbsp;&nbsp; Abercrombie & Fitch Management Company\*~^<br> 8.750%, 07/15/25 |  | 230567 |  |
| 201000 | &nbsp;&nbsp;&nbsp;&nbsp; American Axle & Manufacturing, Inc.~<br> 6.875%, 07/01/28 |  | 183388 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Ashton Woods USA, LLC / Ashton Woods Finance Company\* |  |  |  |
| 194000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 01/15/28 |  | 177588 |  |
| 167000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 08/01/29 |  | 139550 |  |
| 217000 | &nbsp;&nbsp;&nbsp;&nbsp; At Home Group, Inc.\*<br> 4.875%, 07/15/28 |  | 158731 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Bath & Body Works, Inc.~ |  |  |  |
| 254000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.694%, 01/15/27 |  | 256052 |  |
| 235000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 11/01/35 |  | 216889 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Caesars Entertainment, Inc.\* |  |  |  |
| 118000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 10/15/29^ |  | 100898 |  |
| 93000 | &nbsp;&nbsp;&nbsp;&nbsp; 8.125%, 07/01/27^ |  | 94476 |  |
| 93000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 07/01/25~ |  | 92714 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Carnival Corp.\* |  |  |  |
| 98000 | &nbsp;&nbsp;&nbsp;&nbsp; 10.500%, 02/01/26 |  | 102614 |  |
| 48000 | &nbsp;&nbsp;&nbsp;&nbsp; 7.625%, 03/01/26 |  | 43732 |  |
| 230000 | &nbsp;&nbsp;&nbsp;&nbsp; Carriage Services, Inc.\*~<br> 4.250%, 05/15/29 |  | 189451 |  |
| 145000 | &nbsp;&nbsp;&nbsp;&nbsp; Carvana Company\*~<br> 4.875%, 09/01/29 |  | 64771 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; CCO Holdings, LLC / CCO Holdings Capital Corp.\*~ |  |  |  |
| 750000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 03/01/30 |  | 656490 |  |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 08/15/30 |  | 213907 |  |
| 220000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 09/01/29 |  | 212491 |  |
| 186000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 02/01/31 |  | 155079 |  |
| 96000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 02/01/32 |  | 81680 |  |
| 96000 | &nbsp;&nbsp;&nbsp;&nbsp; CDI Escrow Issuer, Inc.\*~<br> 5.750%, 04/01/30 |  | 91098 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Dana, Inc.~ |  |  |  |
| 155000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 09/01/30 |  | 131885 |  |
| 95000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 02/15/32 |  | 80169 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; DISH DBS Corp. |  |  |  |
| 347000 | &nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 07/01/26~ |  | 281969 |  |
| 230000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 12/01/26\*~ |  | 198338 |  |
| 120000 | &nbsp;&nbsp;&nbsp;&nbsp; 7.375%, 07/01/28~ |  | 86416 |  |
| 95000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 06/01/29 |  | 60567 |  |
| 186000 | &nbsp;&nbsp;&nbsp;&nbsp; DISH Network Corp.\*<br> 11.750%, 11/15/27 |  | 193083 |  |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; Empire Resorts, Inc.\*<br> 7.750%, 11/01/26 |  | 164094 |  |
| 204000 | &nbsp;&nbsp;&nbsp;&nbsp; Everi Holdings, Inc.\*~<br> 5.000%, 07/15/29 |  | 184746 |  |
| 190000 | &nbsp;&nbsp;&nbsp;&nbsp; Ford Motor Company~<br> 6.100%, 08/19/32 |  | 186641 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Ford Motor Credit Company, LLC |  |  |  |
| 375000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.134%, 08/04/25 |  | 358657 |  |
| 350000 | &nbsp;&nbsp;&nbsp;&nbsp; 7.350%, 11/04/27 |  | 367444 |  |
| 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/13/30~ |  | 262236 |  |
| 270000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.113%, 05/03/29~ |  | 256162 |  |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 7.350%, 03/06/30 |  | 210214 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Gap, Inc.\* |  |  |  |
| 71000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 10/01/31^ |  | 53248 |  |
| 9000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 10/01/29 |  | 6926 |  |

---

---

| | | |
|:---|:---|:---|
| **PRINCIPAL <br> AMOUNT** | | **VALUE** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; General Motors Financial Company, Inc.~‡ |  |
| 465000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.700%, 09/30/30^<br> 5 year CMT + 5.00% | $433175 |
| 395000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 09/30/28<br> 3 mo. USD LIBOR + 3.44% | 373216 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; goeasy, Ltd.\*~ |  |
| 325000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 12/01/24 | 311873 |
| 177000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 05/01/26 | 159004 |
| 239000 | &nbsp;&nbsp;&nbsp;&nbsp; Goodyear Tire & Rubber Company^<br> 5.000%, 07/15/29 | 210963 |
| 79000 | &nbsp;&nbsp;&nbsp;&nbsp; Group 1 Automotive, Inc.\*~<br> 4.000%, 08/15/28 | 69510 |
| 283000 | &nbsp;&nbsp;&nbsp;&nbsp; Guitar Center, Inc.\*<br> 8.500%, 01/15/26 | 247574 |
| 190000 | &nbsp;&nbsp;&nbsp;&nbsp; Liberty Interactive, LLC~<br> 8.250%, 02/01/30 | 89731 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Life Time, Inc.\* |  |
| 144000 | &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 04/15/26^ | 140059 |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 01/15/26~ | 96784 |
| 123000 | &nbsp;&nbsp;&nbsp;&nbsp; Lindblad Expeditions, LLC\*<br> 6.750%, 02/15/27 | 120613 |
| 125000 | &nbsp;&nbsp;&nbsp;&nbsp; M/I Homes, Inc.<br> 3.950%, 02/15/30 | 105310 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Macy's Retail Holdings, LLC~ |  |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.700%, 07/15/34\* | 169168 |
| 120000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 03/15/30\* | 109921 |
| 90000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 02/15/43 | 55893 |
| 225000 | &nbsp;&nbsp;&nbsp;&nbsp; Mclaren Finance, PLC\*~<br> 7.500%, 08/01/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170424 |
| 242000 | &nbsp;&nbsp;&nbsp;&nbsp; Midwest Gaming Borrower, LLC / Midwest Gaming Finance Corp.\*~<br> 4.875%, 05/01/29 | 214279 |
| 254000 | &nbsp;&nbsp;&nbsp;&nbsp; Mohegan Tribal Gaming Authority\*~<br> 8.000%, 02/01/26 | 240889 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Newell Brands, Inc. |  |
| 45000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 09/15/27 | 45298 |
| 23000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 09/15/29^ | 23341 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Nordstrom, Inc.~ |  |
| 90000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 01/15/44 | 60655 |
| 86000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 08/01/31 | 64760 |
| 215000 | &nbsp;&nbsp;&nbsp;&nbsp; Penn Entertainment, Inc.\*<br> 4.125%, 07/01/29 | 178409 |
| 265000 | &nbsp;&nbsp;&nbsp;&nbsp; Premier Entertainment Sub, LLC / Premier Entertainment Finance Corp.\*~<br> 5.625%, 09/01/29 | 193105 |
| 473000 | &nbsp;&nbsp;&nbsp;&nbsp; Rite Aid Corp.\*<br> 8.000%, 11/15/26 | 264298 |
| 270000 | &nbsp;&nbsp;&nbsp;&nbsp; Simmons Foods, Inc. / Simmons Prepared Foods, Inc. / Simmons Pet Food, Inc. / Simmons Feed\*~<br> 4.625%, 03/01/29 | 229338 |
| 212000 | &nbsp;&nbsp;&nbsp;&nbsp; Sonic Automotive, Inc.\*~<br> 4.625%, 11/15/29 | 176469 |
| 282000 | &nbsp;&nbsp;&nbsp;&nbsp; Speedway Motorsports, LLC / Speedway Funding II, Inc.\*<br> 4.875%, 11/01/27 | 264911 |
| 450000 | &nbsp;&nbsp;&nbsp;&nbsp; Station Casinos, LLC\*~<br> 4.500%, 02/15/28 | 405504 |
| 212000 | &nbsp;&nbsp;&nbsp;&nbsp; Taylor Morrison Communities, Inc.\*<br> 5.750%, 01/15/28 | 205892 |
| 50000 | &nbsp;&nbsp;&nbsp;&nbsp; Viking Cruises, Ltd.\*~<br> 13.000%, 05/15/25 | 53067 |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Long/Short Equity & Dynamic Income Trust** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**PRINCIPAL** <br> &nbsp;&nbsp;&nbsp;&nbsp;**AMOUNT**  | | **VALUE** |
| 220000 | &nbsp;&nbsp;&nbsp;&nbsp; Vista Outdoor, Inc.\*~<br> 4.500%, 03/15/29 | $178376 |
| 47000 | &nbsp;&nbsp;&nbsp;&nbsp; Williams Scotsman<br> International, Inc.\*~<br> 4.625%, 08/15/28 | 43590 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12250360 |
|  | ***Consumer Staples (0.7%)*** |  |
| 218000 | &nbsp;&nbsp;&nbsp;&nbsp; Central Garden & Pet Company\*~<br> 4.125%, 04/30/31 | 183153 |
| 213000 | &nbsp;&nbsp;&nbsp;&nbsp; Edgewell Personal Care Company\*<br> 4.125%, 04/01/29 | 185745 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Energizer Holdings, Inc.\*~ |  |
| 263000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 03/31/29 | 228350 |
| 48000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 12/31/27 | 46924 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; JBS USA LUX, SA / JBS USA Food Company / JBS USA Finance, Inc.\* |  |
| 280000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 01/15/30~ | 272278 |
| 215000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 02/01/28~ | 210906 |
| 70000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 04/01/33 | 68950 |
| 395000 | &nbsp;&nbsp;&nbsp;&nbsp; Land O' Lakes, Inc.\*~<br> 7.000%, 09/18/28 | 349903 |
| 191000 | &nbsp;&nbsp;&nbsp;&nbsp; Performance Food Group, Inc.\*~<br> 4.250%, 08/01/29 | 170668 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; PetSmart, Inc. / PetSmart Finance Corp.\*~<br> 4.750%, 02/15/28 | 232327 |
| 140000 | &nbsp;&nbsp;&nbsp;&nbsp; Pilgrim's Pride Corp.\*<br> 4.250%, 04/15/31 | 121531 |
| 182000 | &nbsp;&nbsp;&nbsp;&nbsp; Prestige Brands, Inc.\*~<br> 3.750%, 04/01/31 | 154625 |
| 210000 | &nbsp;&nbsp;&nbsp;&nbsp; United Natural Foods, Inc.\*~<br> 6.750%, 10/15/28 | 202980 |
| 293000 | &nbsp;&nbsp;&nbsp;&nbsp; Vector Group, Ltd.\*~<br> 5.750%, 02/01/29 | 256006 |
|  |  | 2684346 |
|  | ***Energy (2.7%)*** |  |
| 190000 | &nbsp;&nbsp;&nbsp;&nbsp; Antero Resources Corp.\*~<br> 5.375%, 03/01/30 | 177369 |
| 192000 | &nbsp;&nbsp;&nbsp;&nbsp; Apache Corp.~<br> 5.100%, 09/01/40 | 167762 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Buckeye Partners, LP~ |  |
| 460000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.850%, 11/15/43 | 353919 |
| 205000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.950%, 12/01/26 | 188329 |
| 270000 | &nbsp;&nbsp;&nbsp;&nbsp; Callon Petroleum Company\*~<br> 7.500%, 06/15/30 | 261538 |
| 96000 | &nbsp;&nbsp;&nbsp;&nbsp; Cheniere Energy, Inc.~<br> 4.625%, 10/15/28 | 91562 |
| 139000 | &nbsp;&nbsp;&nbsp;&nbsp; Chesapeake Energy Corp.\*~<br> 6.750%, 04/15/29 | 137281 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Continental Resources, Inc.\* |  |
| 135000 | &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 04/01/32 | 105994 |
| 95000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 01/15/31 | 93369 |
| 350000 | &nbsp;&nbsp;&nbsp;&nbsp; DCP Midstream Operating, LP\*‡<br> 5.850%, 05/21/43<br> 3 mo. USD LIBOR + 3.85% | 346682 |
| 150000 | &nbsp;&nbsp;&nbsp;&nbsp; DT Midstream, Inc.\*~<br> 4.125%, 06/15/29 | 132473 |
| 286000 | &nbsp;&nbsp;&nbsp;&nbsp; Earthstone Energy Holdings, LLC\*~<br> 8.000%, 04/15/27 | 279285 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**PRINCIPAL** <br> &nbsp;&nbsp;&nbsp;&nbsp;**AMOUNT**  | | **VALUE** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Enbridge, Inc.‡ |  |
| 650000 | &nbsp;&nbsp;&nbsp;&nbsp; 7.375%, 01/15/83<br> 5 year CMT + 3.71% | $651047 |
| 620000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 07/15/80~<br> 5 year CMT + 5.31% | 589837 |
| 560000 | &nbsp;&nbsp;&nbsp;&nbsp; Energy Transfer, LP~‡<br> 6.500%, 11/15/26<br> 5 year CMT + 5.69% | 528472 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; EnLink Midstream Partners, LP |  |
| 835000 | &nbsp;&nbsp;&nbsp;&nbsp; 8.879%, 03/03/23‡<br> 3 mo. USD LIBOR + 4.11% | 702928 |
| 205000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 07/15/26~ | 199416 |
| 90000 | &nbsp;&nbsp;&nbsp;&nbsp; Enlink Midstream, LLC\*<br> 6.500%, 09/01/30 | 91851 |
| 185000 | &nbsp;&nbsp;&nbsp;&nbsp; Enterprise Products Operating, LLC‡<br> 7.630%, 08/16/77<br> 3 mo. USD LIBOR + 2.99% | 175883 |
| 220000 | &nbsp;&nbsp;&nbsp;&nbsp; EQM Midstream Partners, LP\*~<br> 7.500%, 06/01/27 | 220832 |
| 46000 | &nbsp;&nbsp;&nbsp;&nbsp; Genesis Energy, LP / Genesis Energy Finance Corp.<br> 8.875%, 04/15/30 | 46779 |
| 210000 | &nbsp;&nbsp;&nbsp;&nbsp; Gulfport Energy Corp.\*~<br> 8.000%, 05/17/26 | 208639 |
| 220000 | &nbsp;&nbsp;&nbsp;&nbsp; Hilcorp Energy I, LP / Hilcorp Finance Company\*~<br> 6.000%, 04/15/30 | 206186 |
| 144000 | &nbsp;&nbsp;&nbsp;&nbsp; Howard Midstream Energy Partners, LLC\*~<br> 6.750%, 01/15/27 | 140587 |
| 186000 | &nbsp;&nbsp;&nbsp;&nbsp; Magnolia Oil & Gas Operating, LLC / Magnolia Oil & Gas Finance Corp.\*~<br> 6.000%, 08/01/26 | 180186 |
| 646000 | &nbsp;&nbsp;&nbsp;&nbsp; MPLX, LP~‡<br> 6.875%, 02/15/23<br> 3 mo. USD LIBOR + 4.65% | 646413 |
| 90000 | &nbsp;&nbsp;&nbsp;&nbsp; Nabors Industries, Inc.\*<br> 7.375%, 05/15/27 | 90188 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; New Fortress Energy, Inc.\*~ |  |
| 180000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 09/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;172903 |
| 96000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 09/30/26 | 88723 |
| 169000 | &nbsp;&nbsp;&nbsp;&nbsp; Par Petroleum, LLC / Par Petroleum Finance Corp.\*~<br> 7.750%, 12/15/25 | 166977 |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; Parkland Corp.\*~<br> 5.875%, 07/15/27 | 192292 |
| 187000 | &nbsp;&nbsp;&nbsp;&nbsp; Patterson-UTI Energy, Inc.~<br> 5.150%, 11/15/29 | 174707 |
| 565000 | &nbsp;&nbsp;&nbsp;&nbsp; Plains All American Pipeline, LP‡<br> 8.716%, 03/03/23<br> 3 mo. USD LIBOR + 4.11% | 511257 |
| 175000 | &nbsp;&nbsp;&nbsp;&nbsp; Rockcliff Energy II, LLC\*<br> 5.500%, 10/15/29 | 166850 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Southwestern Energy Company~ |  |
| 140000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 03/15/30 | 130567 |
| 98000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 02/01/32 | 86459 |
| 90000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 02/01/29 | 84664 |
| 48000 | &nbsp;&nbsp;&nbsp;&nbsp; Sunoco, LP / Sunoco Finance Corp.~<br> 4.500%, 04/30/30 | 42843 |
| 92000 | &nbsp;&nbsp;&nbsp;&nbsp; Transocean, Inc.\*<br> 8.750%, 02/15/30 | 95066 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Venture Global Calcasieu Pass, LLC\* |  |
| 45000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 08/15/31~ | 39996 |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Long/Short Equity & Dynamic Income Trust** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**PRINCIPAL** <br> &nbsp;&nbsp;&nbsp;&nbsp;**AMOUNT**  | | **VALUE** |
| 45000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 08/15/29~ | $40185 |
| 10000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 01/15/30 | 10199 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Vital Energy, Inc. |  |
| 203000 | &nbsp;&nbsp;&nbsp;&nbsp; 10.125%, 01/15/28 | 202466 |
| 92000 | &nbsp;&nbsp;&nbsp;&nbsp; 9.500%, 01/15/25~ | 92915 |
| 280000 | &nbsp;&nbsp;&nbsp;&nbsp; VOC Escrow, Ltd.\*~<br> 5.000%, 02/15/28 | 246868 |
| 290000 | &nbsp;&nbsp;&nbsp;&nbsp; W&T Offshore, Inc.\*~<br> 9.750%, 11/01/23 | 290261 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Weatherford International, Ltd.\*~ |  |
| 201000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 09/15/28 | 200331 |
| 145000 | &nbsp;&nbsp;&nbsp;&nbsp; 8.625%, 04/30/30 | 146335 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10197671 |
|  | ***Financials (15.1%)*** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Acrisure, LLC / Acrisure Finance, Inc.\*~ |  |
| 283000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 08/01/29 | 233837 |
| 251000 | &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 11/15/25 | 239288 |
| 286000 | &nbsp;&nbsp;&nbsp;&nbsp; Aethon United BR, LP / Aethon United Finance Corp.\*~<br> 8.250%, 02/15/26 | 284882 |
| 311000 | &nbsp;&nbsp;&nbsp;&nbsp; AG Issuer, LLC\*~<br> 6.250%, 03/01/28 | 294299 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Alliant Holdings Intermediate, LLC / Alliant Holdings Co-Issuer\* |  |
| 875000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 10/15/27~ | 820041 |
| 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 10/15/27~ | 45916 |
| 45000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 11/01/29 | 39265 |
| 360000 | &nbsp;&nbsp;&nbsp;&nbsp; Allstate Corp.‡<br> 5.750%, 08/15/53<br> 3 mo. USD LIBOR + 2.94% | 355536 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Ally Financial, Inc.~‡ |  |
| 1236000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 05/15/26<br> 5 year CMT + 3.87% | 1018217 |
| 935000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 05/15/28<br> 7 year CMT + 3.48% | 721119 |
| 417000 | &nbsp;&nbsp;&nbsp;&nbsp; American Express Company~‡<br> 3.550%, 09/15/26<br> 5 year CMT + 2.85% | 369721 |
| 685000 | &nbsp;&nbsp;&nbsp;&nbsp; American International Group, Inc.~‡<br> 5.750%, 04/01/48<br> 3 mo. USD LIBOR + 2.87% | 675143 |
| 379000 | &nbsp;&nbsp;&nbsp;&nbsp; AmWINS Group, Inc.\*~<br> 4.875%, 06/30/29 | 334452 |
| 1160000 | &nbsp;&nbsp;&nbsp;&nbsp; Ares Finance Company III, LLC\*~‡<br> 4.125%, 06/30/51<br>5 year CMT + 3.24% | 908257 |
| 175000 | &nbsp;&nbsp;&nbsp;&nbsp; AssuredPartners, Inc.\*<br> 7.000%, 08/15/25 | 172967 |
| 208000 | &nbsp;&nbsp;&nbsp;&nbsp; Aviation Capital Group, LLC\*~µ<br> 3.500%, 11/01/27 | 186869 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Avolon Holdings Funding, Ltd.\*µ |  |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.950%, 07/01/24 | 97050 |
| 75000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 01/15/26 | 73517 |
| 835000 | &nbsp;&nbsp;&nbsp;&nbsp; AXIS Specialty Finance, LLC~‡<br> 4.900%, 01/15/40<br> 5 year CMT + 3.19% | 717724 |
| 791000 | &nbsp;&nbsp;&nbsp;&nbsp; Bank of America Corp.µ‡^<br> 6.125%, 04/27/27<br> 5 year CMT + 3.23% | 789292 |
| 405000 | &nbsp;&nbsp;&nbsp;&nbsp; Bank of Montrealµ‡<br> 4.800%, 08/25/24<br> 5 year CMT + 2.98% | 383952 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**PRINCIPAL** <br> &nbsp;&nbsp;&nbsp;&nbsp;**AMOUNT**  | | **VALUE** |
| 1560000 | &nbsp;&nbsp;&nbsp;&nbsp; Bank of New York Mellon Corp.µ‡<br> 4.700%, 09/20/25<br> 5 year CMT + 4.36% | $1529143 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Bank of Nova Scotiaµ‡ |  |
| 670000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 10/27/81<br> 5 year CMT + 2.613% | 529541 |
| 605000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 06/04/25<br> 5 year CMT + 4.55% | 588459 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Barclays, PLC~‡ |  |
| 725000 | &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 03/15/29<br> 5 year CMT + 5.43% | 727327 |
| 620000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 03/15/28<br> 5 year CMT + 3.41% | 506261 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; BP Capital Markets, PLC‡ |  |
| 810000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 03/22/30~<br> 5 year CMT + 4.40% | 757698 |
| 355000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 06/22/25<br> 5 year CMT + 4.04% | 344702 |
| 375000 | &nbsp;&nbsp;&nbsp;&nbsp; BroadStreet Partners, Inc.\*~<br> 5.875%, 04/15/29 | 331496 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Brookfield Property REIT, Inc. / BPR Cumulus, LLC / BPR Nimbus, LLC / GGSI Sellco, LLC\*~ |  |
| 385000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 04/01/27 | 339982 |
| 231000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 05/15/26 | 217912 |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; Burford Capital Global Financial, LLC\*~<br> 6.875%, 04/15/30 | 183030 |
| 823000 | &nbsp;&nbsp;&nbsp;&nbsp; Capital One Financial Corp.‡<br> 3.950%, 09/01/26<br> 5 year CMT + 3.16% | 717195 |
| 206000 | &nbsp;&nbsp;&nbsp;&nbsp; Castlelake Aviation Finance DAC\*~^<br> 5.000%, 04/15/27 | 188700 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Charles Schwab Corp.~‡ |  |
| 895000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 06/01/26<br> 5 year CMT + 3.17% | 825217 |
| 433000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 12/01/30<br> 10 year CMT + 3.08% | 372804 |
| 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 06/01/25^<br> 5 year CMT + 4.97% | 398704 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Citigroup, Inc.~‡ |  |
| 1454000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 11/15/26<br> 5 year CMT + 3.00% | 1301199 |
| 1141000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 02/18/26<br> 5 year CMT + 3.42% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1044186 |
| 445000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 12/10/25<br> 5 year CMT + 3.60% | 415759 |
| 1115000 | &nbsp;&nbsp;&nbsp;&nbsp; Citizens Financial Group, Inc.~‡<br> 4.000%, 10/06/26<br> 5 year CMT + 3.22% | 973941 |
| 180000 | &nbsp;&nbsp;&nbsp;&nbsp; Corebridge Financial, Inc.\*~‡<br> 6.875%, 12/15/52<br> 5 year CMT + 3.85% | 178099 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Credit Acceptance Corp. |  |
| 475000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 03/15/26^ | 434901 |
| 161000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 12/31/24\*~ | 151541 |
| 565000 | &nbsp;&nbsp;&nbsp;&nbsp; Credit Suisse Group, AG\*‡<br> 7.500%, 12/11/23<br> U.S. 5 yr Swap + 4.60% | 535575 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Discover Financial Services~‡ |  |
| 660000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 06/23/25<br> 5 year CMT + 5.78% | 658218 |
| 425000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 10/30/27<br> 3 mo. USD LIBOR + 3.08% | 374752 |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Long/Short Equity & Dynamic Income Trust** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**PRINCIPAL** <br> &nbsp;&nbsp;&nbsp;&nbsp;**AMOUNT**  | | **VALUE** |
| 241000 | &nbsp;&nbsp;&nbsp;&nbsp; Enact Holdings, Inc.\*~<br> 6.500%, 08/15/25 | $237761 |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; Enstar Finance, LLC~‡<br> 5.500%, 01/15/42<br> 5 year CMT + 4.01% | 165828 |
| 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; Fifth Third Bancorp~‡<br> 4.500%, 09/30/25<br> 5 year CMT + 4.22% | 1454130 |
| 275000 | &nbsp;&nbsp;&nbsp;&nbsp; Global Net Lease, Inc. / Global Net Lease Operating Partnership, LP\*~<br> 3.750%, 12/15/27 | 232458 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Group, Inc.‡ |  |
| 1180000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.400%, 02/10/25<br> 5 year CMT + 2.85% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1072679 |
| 442000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 11/10/26~<br> 5 year CMT + 2.95% | 394684 |
| 427000 | &nbsp;&nbsp;&nbsp;&nbsp; Greystar Real Estate Partners, LLC\*~<br> 5.750%, 12/01/25 | 421996 |
| 400000 | &nbsp;&nbsp;&nbsp;&nbsp; HSBC Holdings, PLCµ‡<br> 6.375%, 03/30/25<br> U.S. 5 yr Swap + 4.37% | 394856 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; HUB International, Ltd.\* |  |
| 285000 | &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 05/01/26 | 283874 |
| 276000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 12/01/29^ | 248640 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Huntington Bancshares, Inc.~‡ |  |
| 940000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.450%, 10/15/27^<br> 7 year CMT + 4.05% | 891543 |
| 375000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 07/15/30<br> 10 year CMT + 4.95% | 370035 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Icahn Enterprises, LP / Icahn Enterprises Finance Corp. |  |
| 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 05/15/27 | 140553 |
| 144000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 02/01/29~ | 125637 |
| 510000 | &nbsp;&nbsp;&nbsp;&nbsp; ILFC E-Capital Trust II\*~‡<br> 6.538%, 12/21/65<br> 3 mo. USD LIBOR + 1.80% | 344357 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; ING Groep, NV~‡ |  |
| 800000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 05/16/31<br> 5 year CMT + 2.86% | 606040 |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 05/16/27<br> 5 year CMT + 2.86% | 162838 |
| 380000 | &nbsp;&nbsp;&nbsp;&nbsp; Iron Mountain, Inc.\*<br> 5.250%, 03/15/28 | 361715 |
| 525000 | &nbsp;&nbsp;&nbsp;&nbsp; Jefferies Finance, LLC / JFIN Co- Issuer Corp.\*~<br> 5.000%, 08/15/28 | 449237 |
| 2840000 | &nbsp;&nbsp;&nbsp;&nbsp; JPMorgan Chase & Companyµ‡<br> 3.650%, 06/01/26<br> 5 year CMT + 2.85% | 2563952 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Ladder Capital Finance Holdings, LLLP / Ladder Capital Finance Corp.\*~ |  |
| 379000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 10/01/25 | 365170 |
| 95000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 06/15/29 | 79039 |
| 265000 | &nbsp;&nbsp;&nbsp;&nbsp; LD Holdings Group, LLC\*<br> 6.125%, 04/01/28 | 173077 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Level 3 Financing, Inc.\*~ |  |
| 298000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 11/15/29 | 241863 |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 07/01/28 | 158668 |
| 1085000 | &nbsp;&nbsp;&nbsp;&nbsp; Liberty Mutual Group, Inc.\*~‡<br> 4.125%, 12/15/51<br> 5 year CMT + 3.32% | 929389 |
| 575000 | &nbsp;&nbsp;&nbsp;&nbsp; Lloyds Banking Group, PLC~‡<br> 7.500%, 06/27/24<br> U.S. 5 yr Swap + 4.76% | 571194 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**PRINCIPAL** <br> &nbsp;&nbsp;&nbsp;&nbsp;**AMOUNT**  | | **VALUE** |
| 139000 | &nbsp;&nbsp;&nbsp;&nbsp; LPL Holdings, Inc.\*~<br> 4.000%, 03/15/29 | $124473 |
| 670000 | &nbsp;&nbsp;&nbsp;&nbsp; Markel Corp.~‡<br> 6.000%, 06/01/25<br> 5 year CMT + 5.66% | 667226 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MetLife, Inc.~ |  |
| 1205000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.400%, 12/15/66 | 1235390 |
| 605000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.850%, 09/15/25‡<br> 5 year CMT + 3.58% | 578029 |
| 400000 | &nbsp;&nbsp;&nbsp;&nbsp; Munich Re\*‡<br> 5.875%, 05/23/42<br> 5 year CMT + 3.98% | 409496 |
| 255000 | &nbsp;&nbsp;&nbsp;&nbsp; Nationstar Mortgage Holdings, Inc.\*~<br> 5.500%, 08/15/28 | 223064 |
| 380000 | &nbsp;&nbsp;&nbsp;&nbsp; Nationwide Financial Services, Inc.<br> 6.750%, 05/15/87 | 379016 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Navient Corp.~ |  |
| 422000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 03/15/27 | 385788 |
| 220000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 03/15/28 | 194909 |
| 220000 | &nbsp;&nbsp;&nbsp;&nbsp; Necessity Retail REIT, Inc. / American Finance Operating Partner, LP\*~<br> 4.500%, 09/30/28 | 169235 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Nordea Bank Abp\*µ‡ |  |
| 900000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 03/01/29<br> 5 year CMT + 2.60% | 715968 |
| 580000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 03/26/26<br> 5 year CMT + 4.11% | 575151 |
| 130000 | &nbsp;&nbsp;&nbsp;&nbsp; OneMain Finance Corp.~<br> 3.875%, 09/15/28 | 109668 |
| 98000 | &nbsp;&nbsp;&nbsp;&nbsp; Park Intermediate Holdings, LLC / PK Domestic Property, LLC / PK Finance Co-Issuer\*~<br> 5.875%, 10/01/28 | 90771 |
| 1148000 | &nbsp;&nbsp;&nbsp;&nbsp; PartnerRe Finance B, LLC~‡^<br> 4.500%, 10/01/50<br> 5 year CMT + 3.82% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1031375 |
| 295000 | &nbsp;&nbsp;&nbsp;&nbsp; PHH Mortgage Corp.\*~<br> 7.875%, 03/15/26 | 270070 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; PNC Financial Services Group, Inc.µ‡ |  |
| 885000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.400%, 09/15/26<br> 5 year CMT + 2.60% | 754896 |
| 425000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 05/15/27<br> 5 year CMT + 3.00% | 422246 |
| 360000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.200%, 09/15/27<br> 5 year CMT + 3.24% | 360958 |
| 785000 | &nbsp;&nbsp;&nbsp;&nbsp; QBE Insurance Group, Ltd.\*~‡<br> 5.875%, 05/12/25<br> 5 year CMT + 5.51% | 774277 |
| 220000 | &nbsp;&nbsp;&nbsp;&nbsp; RHP Hotel Properties, LP / RHP Finance Corp.\*~<br> 4.500%, 02/15/29 | 196902 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Rocket Mortgage, LLC / Rocket Mortgage Co-Issuer, Inc.\*~ |  |
| 85000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 03/01/31 | 69381 |
| 85000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 03/01/29 | 71827 |
| 45000 | &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 10/15/26 | 40185 |
| 1362000 | &nbsp;&nbsp;&nbsp;&nbsp; State Street Corp.~‡^<br> 5.625%, 12/15/23<br> 3 mo. USD LIBOR + 2.54% | 1318334 |
| 199000 | &nbsp;&nbsp;&nbsp;&nbsp; StoneX Group, Inc.\*~<br> 8.625%, 06/15/25 | 201822 |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Long/Short Equity & Dynamic Income Trust** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**PRINCIPAL** <br> **AMOUNT** | | **VALUE** |
| 918000 | &nbsp;&nbsp;&nbsp;&nbsp; SVB Financial Group~‡<br> 4.000%, 05/15/26<br> 5 year CMT + 3.20% | $738421 |
| 651000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.100%, 02/15/31<br> 10 year CMT + 3.06% | 486453 |
| 367000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 11/15/26<br> 5 year CMT + 3.07% | 293886 |
| 1075000 | &nbsp;&nbsp;&nbsp;&nbsp; Toronto-Dominion Bankµ‡<br> 8.125%, 10/31/82<br> 5 year CMT + 4.08% | 1141424 |
| 835000 | &nbsp;&nbsp;&nbsp;&nbsp; Truist Financial Corp.µ‡<br> 4.800%, 09/01/24<br> 5 year CMT + 3.00% | 805282 |
| 375000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.950%, 09/01/25<br> 5 year CMT + 4.61% | 371783 |
| 575000 | &nbsp;&nbsp;&nbsp;&nbsp; UBS Group, AG\*~‡<br> 7.000%, 01/31/24<br> U.S. 5 yr Swap + 4.34% | 573752 |
| 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 02/12/27<br> 5 year CMT + 3.40% | 360928 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; United Wholesale Mortgage, LLC\*~ |  |
| 221000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 04/15/29 | 190361 |
| 90000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 06/15/27 | 81131 |
| 90000 | &nbsp;&nbsp;&nbsp;&nbsp; Uniti Group, LP / Uniti Group Finance, Inc. / CSL Capital, LLC\*~<br> 6.500%, 02/15/29 | 62324 |
| 210000 | &nbsp;&nbsp;&nbsp;&nbsp; VZ Secured Financing, BV\*~<br> 5.000%, 01/15/32 | 180073 |
| 3170000 | &nbsp;&nbsp;&nbsp;&nbsp; Wells Fargo & Company~‡<br> 3.900%, 03/15/26<br> 5 year CMT + 3.45% | 2923533 |
| 208000 | &nbsp;&nbsp;&nbsp;&nbsp; XHR, LP\*~<br> 6.375%, 08/15/25 | 206415 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56615122 |
|  | ***Health Care (1.1%)*** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Bausch Health Companies, Inc.\* |  |
| 318000 | &nbsp;&nbsp;&nbsp;&nbsp; 11.000%, 09/30/28 | 249833 |
| 72000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 02/01/27 | 49182 |
| 62000 | &nbsp;&nbsp;&nbsp;&nbsp; 14.000%, 10/15/30 | 40044 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; CHS/Community Health Systems, Inc.\* |  |
| 610000 | &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 03/15/26~ | 593097 |
| 377000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 04/01/30~ | 229058 |
| 108000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 04/15/29~ | 68407 |
| 24000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 05/15/30 | 19384 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; DaVita, Inc.\*~ |  |
| 372000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 06/01/30 | 313641 |
| 222000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 02/15/31 | 172860 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Embecta Corp.\*~ |  |
| 144000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 02/15/30 | 118740 |
| 48000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 02/15/30 | 43298 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Encompass Health Corp.~ |  |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 02/01/30 | 91783 |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 02/01/28 | 93454 |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; Jazz Securities DAC\*~<br> 4.375%, 01/15/29 | 183066 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Medline Borrower, LP\*~ |  |
| 233000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 10/01/29^ | 195834 |
| 230000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 04/01/29 | 197000 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Organon & Company / Organon Foreign Debt Co-Issuer, BV\*~ |  |
| 350000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 04/30/31 | 315668 |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 04/30/28 | 181776 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**PRINCIPAL** <br> **AMOUNT** | | **VALUE** |
| 470000 | &nbsp;&nbsp;&nbsp;&nbsp; Tenet Healthcare Corp.~<br> 6.875%, 11/15/31 | $435666 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Teva Pharmaceutical Finance Netherlands III, BV~ |  |
| 340000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.150%, 10/01/26 | 305228 |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 01/31/25 | 202928 |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 05/09/27 | 186124 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4286071 |
|  | ***Industrials (3.3%)*** |  |
| 220000 | &nbsp;&nbsp;&nbsp;&nbsp; ACCO Brands Corp.\*~<br> 4.250%, 03/15/29 | 190485 |
| 800000 | &nbsp;&nbsp;&nbsp;&nbsp; AerCap Holdings, NV~‡^<br> 5.875%, 10/10/79<br> 5 year CMT + 4.54% | 766192 |
| 885000 | &nbsp;&nbsp;&nbsp;&nbsp; Air Lease Corp.~‡<br> 4.125%, 12/15/26<br> 5 year CMT + 3.15% | 688309 |
| 810000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.650%, 06/15/26<br> 5 year CMT + 4.08% | 720058 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Albertsons Companies, Inc. / Safeway, Inc. / New Albertsons, LP / Albertsons, LLC\*~ |  |
| 315000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 01/15/27 | 299735 |
| 185000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 03/15/29 | 159685 |
| 145000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 02/15/28 | 141901 |
| 220000 | &nbsp;&nbsp;&nbsp;&nbsp; Allegiant Travel Company\*~<br> 7.250%, 08/15/27 | 215967 |
| 50000 | &nbsp;&nbsp;&nbsp;&nbsp; American Airlines Group, Inc.\*^<br> 3.750%, 03/01/25 | 46787 |
| 220220 | &nbsp;&nbsp;&nbsp;&nbsp; American Airlines Pass Through<br> Trust Series 2021-1, Class B~<br> 3.950%, 01/11/32 | 186773 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; American Airlines, Inc. / AAdvantage Loyalty IP, Ltd.\*~ |  |
| 144000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 04/20/26 | 141336 |
| 48000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 04/20/29 | 46511 |
| 108000 | &nbsp;&nbsp;&nbsp;&nbsp; Arcosa, Inc.\*~<br> 4.375%, 04/15/29 | 96567 |
| 940000 | &nbsp;&nbsp;&nbsp;&nbsp; ARD Finance, SA\*~<br> 6.500%, 06/30/27<br> 7.250% PIK rate | 738680 |
| 70000 | &nbsp;&nbsp;&nbsp;&nbsp; Ball Corp.<br> 6.875%, 03/15/28 | 72314 |
| 151000 | &nbsp;&nbsp;&nbsp;&nbsp; Beacon Roofing Supply, Inc.\*~<br> 4.125%, 05/15/29 | 130207 |
| 191000 | &nbsp;&nbsp;&nbsp;&nbsp; BWX Technologies, Inc.\*~<br> 4.125%, 04/15/29 | 172861 |
| 90000 | &nbsp;&nbsp;&nbsp;&nbsp; Cascades, Inc. / Cascades USA, Inc.\*<br> 5.125%, 01/15/26 | 84271 |
| 47000 | &nbsp;&nbsp;&nbsp;&nbsp; Delta Air Lines, Inc.~<br> 7.375%, 01/15/26 | 49221 |
| 48000 | &nbsp;&nbsp;&nbsp;&nbsp; Delta Air Lines, Inc. / SkyMiles IP, Ltd.\*~<br> 4.750%, 10/20/28 | 46706 |
| 245000 | &nbsp;&nbsp;&nbsp;&nbsp; Deluxe Corp.\*~<br> 8.000%, 06/01/29 | 210083 |
| 96000 | &nbsp;&nbsp;&nbsp;&nbsp; Dun & Bradstreet Corp.\*~<br> 5.000%, 12/15/29 | 85740 |
| 143000 | &nbsp;&nbsp;&nbsp;&nbsp; Eco Material Technologies, Inc.\*~<br> 7.875%, 01/31/27 | 137851 |
| 230000 | &nbsp;&nbsp;&nbsp;&nbsp; Endurance International Group Holdings, Inc.\*~<br> 6.000%, 02/15/29 | 167044 |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Long/Short Equity & Dynamic Income Trust** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**PRINCIPAL** <br> **AMOUNT** | | **VALUE** |
| 85000 | &nbsp;&nbsp;&nbsp;&nbsp; EnerSys\*~<br> 4.375%, 12/15/27 | $78606 |
| 135000 | &nbsp;&nbsp;&nbsp;&nbsp; Fly Leasing, Ltd.\*~<br> 7.000%, 10/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117729 |
| 118000 | &nbsp;&nbsp;&nbsp;&nbsp; Graham Packaging Company, Inc.\*<br> 7.125%, 08/15/28 | 103866 |
| 88000 | &nbsp;&nbsp;&nbsp;&nbsp; Graphic Packaging International, LLC\*~<br> 3.500%, 03/01/29 | 77582 |
| 203000 | &nbsp;&nbsp;&nbsp;&nbsp; Great Lakes Dredge & Dock Corp.\*~<br> 5.250%, 06/01/29 | 171438 |
| 443000 | &nbsp;&nbsp;&nbsp;&nbsp; H&E Equipment Services, Inc.\*~<br> 3.875%, 12/15/28 | 391213 |
| 281000 | &nbsp;&nbsp;&nbsp;&nbsp; Hawaiian Brand Intellectual Property, Ltd. / HawaiianMiles Loyalty, Ltd.\*~<br> 5.750%, 01/20/26 | 268886 |
| 475000 | &nbsp;&nbsp;&nbsp;&nbsp; Herc Holdings, Inc.\*~<br> 5.500%, 07/15/27 | 455686 |
| 220000 | &nbsp;&nbsp;&nbsp;&nbsp; IEA Energy Services, LLC\*<br> 6.625%, 08/15/29 | 216146 |
| 290000 | &nbsp;&nbsp;&nbsp;&nbsp; JELD-WEN, Inc.\*~<br> 4.625%, 12/15/25 | 256995 |
| 305000 | &nbsp;&nbsp;&nbsp;&nbsp; Ken Garff Automotive, LLC\*~<br> 4.875%, 09/15/28 | 263078 |
| 96000 | &nbsp;&nbsp;&nbsp;&nbsp; MasTec, Inc.\*~<br> 4.500%, 08/15/28 | 89051 |
| 107000 | &nbsp;&nbsp;&nbsp;&nbsp; Moog, Inc.\*~<br> 4.250%, 12/15/27 | 99332 |
| 172000 | &nbsp;&nbsp;&nbsp;&nbsp; Novelis Corp.\*~<br> 4.750%, 01/30/30 | 157402 |
| 70000 | &nbsp;&nbsp;&nbsp;&nbsp; OI European Group, BV\*<br> 4.750%, 02/15/30 | 62992 |
| 225000 | &nbsp;&nbsp;&nbsp;&nbsp; Pactiv Evergreen Group Issuer, Inc. / Pactiv Evergreen Group Issuer, LLC\*~<br> 4.000%, 10/15/27 | 202525 |
| 285000 | &nbsp;&nbsp;&nbsp;&nbsp; Patrick Industries, Inc.\*~<br> 4.750%, 05/01/29 | 243880 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; QVC, Inc.~ |  |
| 111000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 09/01/28 | 71367 |
| 95000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 08/15/34 | 56178 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Sealed Air Corp.\* |  |
| 144000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 02/01/28 | 145397 |
| 48000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 04/15/29~ | 45563 |
| 98000 | &nbsp;&nbsp;&nbsp;&nbsp; Sensata Technologies, Inc.\*~<br> 3.750%, 02/15/31 | 83889 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Sinclair Television Group, Inc.\* |  |
| 141000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 12/01/30~ | 112256 |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 03/01/30^ | 79868 |
| 195000 | &nbsp;&nbsp;&nbsp;&nbsp; Standard Industries, Inc.\*~<br> 5.000%, 02/15/27 | 185925 |
| 315000 | &nbsp;&nbsp;&nbsp;&nbsp; Stanley Black & Decker, Inc.~‡<br> 4.000%, 03/15/60<br> 5 year CMT + 2.66% | 277241 |
| 150000 | &nbsp;&nbsp;&nbsp;&nbsp; Stericycle, Inc.\*~<br> 3.875%, 01/15/29 | 133500 |
| 145000 | &nbsp;&nbsp;&nbsp;&nbsp; STL Holding Company, LLC\*~<br> 7.500%, 02/15/26 | 128102 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TransDigm, Inc.~ |  |
| 473000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 03/15/26\* | 473307 |
| 405000 | &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 03/15/27 | 408459 |
| 141000 | &nbsp;&nbsp;&nbsp;&nbsp; Tronox, Inc.\*~<br> 4.625%, 03/15/29 | 120764 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**PRINCIPAL** <br> **AMOUNT** | | **VALUE** |
| 187000 | &nbsp;&nbsp;&nbsp;&nbsp; Vertiv Group Corp.\*~<br> 4.125%, 11/15/28 | $163152 |
| 201000 | &nbsp;&nbsp;&nbsp;&nbsp; Wabash National Corp.\*~<br> 4.500%, 10/15/28 | 177214 |
| 325000 | &nbsp;&nbsp;&nbsp;&nbsp; Waste Pro USA, Inc.\*~<br> 5.500%, 02/15/26 | 302617 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; WESCO Distribution, Inc.\*~ |  |
| 93000 | &nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 06/15/25 | 94545 |
| 45000 | &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 06/15/28 | 46316 |
| 202000 | &nbsp;&nbsp;&nbsp;&nbsp; Williams Scotsman International, Inc.\*~<br> 6.125%, 06/15/25 | 203004 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12160355 |
|  | ***Information Technology (0.7%)*** |  |
| 96000 | &nbsp;&nbsp;&nbsp;&nbsp; Booz Allen Hamilton, Inc.\*~<br> 4.000%, 07/01/29 | 86317 |
| 112000 | &nbsp;&nbsp;&nbsp;&nbsp; Coherent Corp.\*~<br> 5.000%, 12/15/29 | 102580 |
| 299000 | &nbsp;&nbsp;&nbsp;&nbsp; CommScope Technologies, LLC\*~<br> 6.000%, 06/15/25 | 283598 |
| 175000 | &nbsp;&nbsp;&nbsp;&nbsp; CommScope, Inc.\*~<br> 4.750%, 09/01/29 | 145721 |
| 56000 | &nbsp;&nbsp;&nbsp;&nbsp; Fair Isaac Corp.\*~<br> 4.000%, 06/15/28 | 52067 |
| 210000 | &nbsp;&nbsp;&nbsp;&nbsp; KBR, Inc.\*~<br> 4.750%, 09/30/28 | 191770 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MPH Acquisition Holdings, LLC\*~ |  |
| 210000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 11/01/28 | 152840 |
| 95000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 09/01/28 | 79125 |
| 96000 | &nbsp;&nbsp;&nbsp;&nbsp; NCR Corp.\*~<br> 5.125%, 04/15/29 | 83617 |
| 143000 | &nbsp;&nbsp;&nbsp;&nbsp; ON Semiconductor Corp.\*~<br> 3.875%, 09/01/28 | 130593 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Open Text Corp.\* |  |
| 129000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 02/15/28~ | 112255 |
| 90000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.900%, 12/01/27 | 92304 |
| 72000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 12/01/29~ | 60016 |
| 72000 | &nbsp;&nbsp;&nbsp;&nbsp; Open Text Holdings, Inc.\*~<br> 4.125%, 12/01/31 | 58599 |
| 96000 | &nbsp;&nbsp;&nbsp;&nbsp; Playtika Holding Corp.\*~<br> 4.250%, 03/15/29 | 79829 |
| 118000 | &nbsp;&nbsp;&nbsp;&nbsp; PTC, Inc.\*~<br> 4.000%, 02/15/28 | 110039 |
| 265000 | &nbsp;&nbsp;&nbsp;&nbsp; TTM Technologies, Inc.\*^<br> 4.000%, 03/01/29 | 231650 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Twilio, Inc.~ |  |
| 130000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 03/15/29 | 110556 |
| 47000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 03/15/31 | 39013 |
| 240000 | &nbsp;&nbsp;&nbsp;&nbsp; Viavi Solutions, Inc.\*~<br> 3.750%, 10/01/29 | 209496 |
| 220000 | &nbsp;&nbsp;&nbsp;&nbsp; ZoomInfo Technologies, LLC / ZoomInfo Finance Corp.\*~<br> 3.875%, 02/01/29 | 189981 |
|  |  | 2601966 |
|  | ***Materials (0.6%)*** |  |
| 150000 | &nbsp;&nbsp;&nbsp;&nbsp; ArcelorMittal, SA~<br> 7.000%, 10/15/39 | 162441 |
| 90000 | &nbsp;&nbsp;&nbsp;&nbsp; ATI, Inc.~<br> 5.875%, 12/01/27 | 87447 |
| 46000 | &nbsp;&nbsp;&nbsp;&nbsp; Carpenter Technology Corp.<br> 7.625%, 03/15/30 | 47267 |
| 145000 | &nbsp;&nbsp;&nbsp;&nbsp; Chemours Company\*~<br> 4.625%, 11/15/29 | 121235 |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Long/Short Equity & Dynamic Income Trust** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**PRINCIPAL** <br> **AMOUNT** | | **VALUE** | **VALUE** | **VALUE** |
| 300000 | &nbsp;&nbsp;&nbsp;&nbsp; Clearwater Paper Corp.\*~<br> 4.750%, 08/15/28 | $| 268512 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Commercial Metals Company~ |  |  |  |
| 96000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 01/15/30 |  | 86218 |  |
| 48000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 03/15/32 |  | 42509 |  |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; Constellium, SE\*~^<br> 3.750%, 04/15/29 |  | 214030 |  |
| 144000 | &nbsp;&nbsp;&nbsp;&nbsp; HB Fuller Company~<br> 4.250%, 10/15/28 |  | 127683 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Kaiser Aluminum Corp.\* |  |  |  |
| 210000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 03/01/28~ |  | 192217 |  |
| 24000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 06/01/31 |  | 20336 |  |
| 133000 | &nbsp;&nbsp;&nbsp;&nbsp; LSF11 A5 HoldCo, LLC\*<br> 6.625%, 10/15/29 |  | 111088 |  |
| 201000 | &nbsp;&nbsp;&nbsp;&nbsp; Mercer International, Inc.~<br> 5.125%, 02/01/29 |  | 172181 |  |
| 285000 | &nbsp;&nbsp;&nbsp;&nbsp; Owens-Brockway Glass Container, Inc.\*~^<br> 6.625%, 05/13/27 |  | 280594 |  |
| 80000 | &nbsp;&nbsp;&nbsp;&nbsp; Silgan Holdings, Inc.~<br> 4.125%, 02/01/28 |  | 74850 |  |
| 96000 | &nbsp;&nbsp;&nbsp;&nbsp; Trinseo Materials Operating SCA / Trinseo Materials Finance, Inc.\*<br> 5.125%, 04/01/29 |  | 69452 |  |
| 85000 | &nbsp;&nbsp;&nbsp;&nbsp; Univar Solutions USA, Inc.\*~<br> 5.125%, 12/01/27 |  | 82683 |  |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2160743 |  |
|  | ***Other (0.1%)*** |  |  |  |
| 179000 | &nbsp;&nbsp;&nbsp;&nbsp; 1375209 B.C., Ltd.\*<br> 9.000%, 01/30/28 |  | 178527 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Gen Digital, Inc.\* |  |  |  |
| 90000 | &nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 09/30/30 |  | 91448 |  |
| 90000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 09/30/27 |  | 91387 |  |
|  |  |  | 361362 |  |
|  | ***Real Estate (0.2%)*** |  |  |  |
| 152000 | &nbsp;&nbsp;&nbsp;&nbsp; EPR Properties~<br> 3.750%, 08/15/29 |  | 126997 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Forestar Group, Inc.\* |  |  |  |
| 139000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 03/01/28 |  | 122249 |  |
| 97000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.850%, 05/15/26~ |  | 87043 |  |
| 211000 | &nbsp;&nbsp;&nbsp;&nbsp; MIWD Holdco II, LLC / MIWD Finance Corp.\*~<br> 5.500%, 02/01/30 |  | 175812 |  |
| 95000 | &nbsp;&nbsp;&nbsp;&nbsp; Service Properties Trust~<br> 5.250%, 02/15/26 |  | 82408 |  |
|  |  |  | 594509 |  |
|  | ***Special Purpose Acquisition Companies (0.1%)*** | ***Special Purpose Acquisition Companies (0.1%)*** | ***Special Purpose Acquisition Companies (0.1%)*** | **** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Fertitta Entertainment, LLC / Fertitta Entertainment Finance Company, Inc.\*~ |  |  |  |
| 185000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 01/15/30 |  | 153794 |  |
| 96000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 01/15/29 |  | 84794 |  |
|  |  |  | 238588 |  |
|  | ***Utilities (1.8%)*** |  |  |  |
| 910000 | &nbsp;&nbsp;&nbsp;&nbsp; Algonquin Power & Utilities Corp.~‡<br> 4.750%, 01/18/82<br> 5 year CMT + 3.25% |  | 767567 |  |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; CenterPoint Energy, Inc.~‡<br> 6.125%, 09/01/23<br> 3 mo. USD LIBOR + 3.27% |  | 196800 |  |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**PRINCIPAL** <br> **AMOUNT** | | **VALUE** | **VALUE** |
| 390000 | &nbsp;&nbsp;&nbsp;&nbsp; CMS Energy Corp.‡<br> 4.750%, 06/01/50<br> 5 year CMT + 4.12% | $| 355142 |
| 695000 | &nbsp;&nbsp;&nbsp;&nbsp; Dominion Energy, Inc.~‡<br> 4.650%, 12/15/24<br> 5 year CMT + 2.99% |  | 651771 |
| 367000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.350%, 01/15/27<br> 5 year CMT + 3.20% |  | 327100 |
| 900000 | &nbsp;&nbsp;&nbsp;&nbsp; Duke Energy Corp.~‡<br> 4.875%, 09/16/24<br> 5 year CMT + 3.39% |  | 873243 |
| 368000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 01/15/82<br> 5 year CMT + 2.32% |  | 300229 |
| 770000 | &nbsp;&nbsp;&nbsp;&nbsp; NextEra Energy Capital Holdings, Inc.~‡<br> 3.800%, 03/15/82<br> 5 year CMT + 2.55% |  | 672117 |
| 254000 | &nbsp;&nbsp;&nbsp;&nbsp; PPL Capital Funding, Inc.‡<br> 7.395%, 03/30/67<br> 3 mo. USD LIBOR + 2.67% |  | 223642 |
| 375000 | &nbsp;&nbsp;&nbsp;&nbsp; Sempra Energy~‡<br> 4.875%, 10/15/25<br> 5 year CMT + 4.55% |  | 360559 |
| 240000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 04/01/52<br> 5 year CMT + 2.87% |  | 208795 |
| 668000 | &nbsp;&nbsp;&nbsp;&nbsp; Southern Company~‡<br> 4.000%, 01/15/51<br> 5 year CMT + 3.73% |  | 636183 |
| 280000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 09/15/51<br> 5 year CMT + 2.92% |  | 245874 |
| 375000 | &nbsp;&nbsp;&nbsp;&nbsp; Vistra Corp.\*‡<br> 8.000%, 10/15/26<br> 5 year CMT + 6.93% |  | 367894 |
| 305000 | &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 12/15/26~<br> 5 year CMT + 5.74% |  | 287859 |
| 205000 | &nbsp;&nbsp;&nbsp;&nbsp; WEC Energy Group, Inc.‡<br> 6.719%, 05/15/67<br> 3 mo. USD LIBOR + 2.11% |  | 175539 |
|  |  |  | 6650314 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL CORPORATE BONDS**<br> (Cost $131,910,516) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118968033 |
| **CONVERTIBLE BONDS (0.1%)** | **CONVERTIBLE BONDS (0.1%)** | **CONVERTIBLE BONDS (0.1%)** | **CONVERTIBLE BONDS (0.1%)** |
|  | ***Consumer Discretionary (0.1%)*** |  |  |
| 338000 | &nbsp;&nbsp;&nbsp;&nbsp; DISH Network Corp.µ<br> 2.375%, 03/15/24 |  | 315020 |
|  | ***Other (0.0%)*** |  |  |
| 95000 | &nbsp;&nbsp;&nbsp;&nbsp; Multiplan Corp.\*<br> 6.000%, 10/15/27<br> 7.000% PIK rate |  | 62163 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL CONVERTIBLE BONDS**<br> (Cost $392,941) |  | 377183 |
| **BANK LOANS (2.4%) ¡** | **BANK LOANS (2.4%) ¡** | **BANK LOANS (2.4%) ¡** | **BANK LOANS (2.4%) ¡** |
|  | ***Airlines (0.1%)*** |  |  |
| 166500 | &nbsp;&nbsp;&nbsp;&nbsp; Mileage Plus Holdings, LLC‡<br> 9.996%, 06/21/27<br> 3 mo. LIBOR + 5.25% |  | 173878 |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Long/Short Equity & Dynamic Income Trust** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**PRINCIPAL** <br> **AMOUNT** | | **VALUE** |
| 245625 | &nbsp;&nbsp;&nbsp;&nbsp; United Airlines, Inc.‡<br> 8.568%, 04/21/28<br> 3 mo. LIBOR + 3.75% | $246083 |
|  |  | 419961 |
|  | ***Communication Services (0.3%)*** |  |
| 482500 | &nbsp;&nbsp;&nbsp;&nbsp; Clear Channel Outdoor Holdings, Inc.‡<br> 8.325%, 08/21/26<br> 3 mo. LIBOR + 3.50% | 460185 |
| 1250 | &nbsp;&nbsp;&nbsp;&nbsp; Clear Channel Outdoor Holdings, Inc.‡<br> 8.070%, 08/21/26<br> 1 mo. LIBOR + 3.50% | 1192 |
| 99746 | &nbsp;&nbsp;&nbsp;&nbsp; CMG Media Corp.‡<br> 8.230%, 12/17/26<br> 3 mo. LIBOR + 3.50% | 94873 |
| 261551 | &nbsp;&nbsp;&nbsp;&nbsp; DIRECTV Financing, LLC‡<br> 9.570%, 08/02/27<br> 1 mo. LIBOR + 5.00% | 257806 |
| 284000 | &nbsp;&nbsp;&nbsp;&nbsp; Entercom Media Corp.‡<br> 7.047%, 11/18/24<br> 1 mo. LIBOR + 2.50% | 204775 |
| 73805 | &nbsp;&nbsp;&nbsp;&nbsp; Nexstar Broadcasting, Inc.‡<br> 7.070%, 09/18/26<br> 1 mo. LIBOR + 2.50% | 73928 |
| 94525 | &nbsp;&nbsp;&nbsp;&nbsp; Univision Communications, Inc.‡<br> 8.830%, 06/24/29<br> 3 mo. SOFR + 4.25% | 94643 |
|  |  | 1187402 |
|  | ***Consumer Discretionary (0.4%)*** |  |
| 90000 | &nbsp;&nbsp;&nbsp;&nbsp; Caesars Entertainment, Inc.!<br> 0.000%, 01/20/30 | 90032 |
| 64382 | &nbsp;&nbsp;&nbsp;&nbsp; Life Time Fitness, Inc.‡<br> 9.485%, 12/16/24<br> 3 mo. LIBOR + 4.75% | 64535 |
| 91739 | &nbsp;&nbsp;&nbsp;&nbsp; Penn National Gaming, Inc.‡<br> 7.411%, 05/03/29<br> 1 mo. SOFR + 2.75% | 91790 |
| 334050 | &nbsp;&nbsp;&nbsp;&nbsp; Petco Health and Wellness Company, Inc.‡<br> 7.976%, 03/03/28<br> 3 mo. LIBOR + 3.25% | 331145 |
| 315040 | &nbsp;&nbsp;&nbsp;&nbsp; PetSmart, Inc.‡<br> 8.411%, 02/11/28<br> 1 mo. LIBOR + 3.75% | 313334 |
| 180500 | &nbsp;&nbsp;&nbsp;&nbsp; SkyMiles IP, Ltd.‡<br> 8.558%, 10/20/27<br> 3 mo. LIBOR + 3.75% | 186976 |
| 126343 | &nbsp;&nbsp;&nbsp;&nbsp; TKC Holdings, Inc.‡<br> 10.070%, 05/15/28<br> 1 mo. LIBOR + 5.50% | 106076 |
| 316575 | &nbsp;&nbsp;&nbsp;&nbsp; WW International, Inc.‡<br> 8.070%, 04/13/28<br> 1 mo. LIBOR + 3.50% | 190208 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1374096 |
|  | ***Financials (0.2%)*** |  |
| 174560 | &nbsp;&nbsp;&nbsp;&nbsp; AssuredPartners, Inc.!<br> 0.000%, 02/12/27 | 172897 |
| 185000 | &nbsp;&nbsp;&nbsp;&nbsp; Hub International, Ltd.‡<br> 8.220%, 11/10/29<br> 3 mo. SOFR + 4.00% | 185144 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**PRINCIPAL** <br> **AMOUNT** | | **VALUE** |
| 199851 | &nbsp;&nbsp;&nbsp;&nbsp; Jazz Financing Lux Sarl‡<br> 8.070%, 05/05/28<br> 1 mo. LIBOR + 3.50% | $199882 |
| 257400 | &nbsp;&nbsp;&nbsp;&nbsp; VFH Parent, LLC‡<br> 7.612%, 01/13/29<br> 1 mo. SOFR + 3.00% | 256595 |
|  |  | 814518 |
|  | ***Health Care (0.4%)*** |  |
| 164989 | &nbsp;&nbsp;&nbsp;&nbsp; Amneal Pharmaceuticals, LLC‡<br> 8.125%, 05/04/25<br> 1 mo. LIBOR + 3.50% | 155949 |
| 160404 | &nbsp;&nbsp;&nbsp;&nbsp; Amneal Pharmaceuticals, LLC‡<br> 8.250%, 05/04/25<br> 3 mo. LIBOR + 3.50% | 151616 |
| 43875 | &nbsp;&nbsp;&nbsp;&nbsp; Bausch Health Companies, Inc.‡<br> 9.828%, 02/01/27<br> 1 mo. SOFR + 5.25% | 33956 |
| 125017 | &nbsp;&nbsp;&nbsp;&nbsp; Icon Luxembourg Sarl‡<br> 7.000%, 07/03/28<br> 3 mo. LIBOR + 2.25% | 125174 |
| 253144 | &nbsp;&nbsp;&nbsp;&nbsp; Mallinckrodt International Finance, SA‡<br> 9.986%, 09/30/27<br> 3 mo. LIBOR + 5.25% | 194935 |
| 207059 | &nbsp;&nbsp;&nbsp;&nbsp; Padagis, LLC‡<br> 9.538%, 07/06/28<br> 3 mo. LIBOR + 4.75% | 193255 |
| 31148 | &nbsp;&nbsp;&nbsp;&nbsp; PRA Health Sciences, Inc.‡<br> 7.000%, 07/03/28<br> 3 mo. LIBOR + 2.25% | 31187 |
| 820573 | &nbsp;&nbsp;&nbsp;&nbsp; Team Health Holdings, Inc.‡<br> 9.811%, 03/02/27<br> 1 mo. SOFR + 5.25% | 684152 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1570224 |
|  | ***Industrials (0.4%)*** |  |
| 74000 | &nbsp;&nbsp;&nbsp;&nbsp; ACProducts, Inc.‡<br> 8.980%, 05/17/28<br> 6 mo. LIBOR + 4.25% | 60228 |
| 24500 | &nbsp;&nbsp;&nbsp;&nbsp; ACProducts, Inc.‡<br> 8.980%, 05/17/28<br> 3 mo. LIBOR + 4.25% | 19941 |
| 119400 | &nbsp;&nbsp;&nbsp;&nbsp; Air Canada‡<br> 8.130%, 08/11/28<br> 3 mo. LIBOR + 3.50% | 119719 |
| 165000 | &nbsp;&nbsp;&nbsp;&nbsp; American Airlines, Inc.‡<br> 9.558%, 04/20/28<br> 3 mo. LIBOR + 4.75% | 169692 |
| 234413 | &nbsp;&nbsp;&nbsp;&nbsp; ChampionX Corp.‡<br> 7.747%, 06/07/29<br> 1 mo. SOFR + 3.25% | 234816 |
| 425776 | &nbsp;&nbsp;&nbsp;&nbsp; Dun & Bradstreet Corp.‡<br> 7.767%, 02/06/26<br> 1 mo. LIBOR + 3.25% | 425587 |
| 296774 | &nbsp;&nbsp;&nbsp;&nbsp; Granite Holdings US Acquisition Company‡<br> 8.750%, 09/30/26<br> 3 mo. LIBOR + 4.00% | 296959 |
| 199000 | &nbsp;&nbsp;&nbsp;&nbsp; Scientific Games International, Inc.‡<br> 7.578%, 04/14/29<br> 1 mo. SOFR + 3.00% | 199071 |
|  |  | 1526013 |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Long/Short Equity & Dynamic Income Trust** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**PRINCIPAL** <br> **AMOUNT** | | **VALUE** | **VALUE** | **VALUE** |
|  | ***Information Technology (0.2%)*** |  |  |  |
| 178351 | &nbsp;&nbsp;&nbsp;&nbsp; Banff Merger Sub, Inc.‡<br> 8.320%, 10/02/25<br> 1 mo. LIBOR + 3.75% | $| 175487 |  |
| 223176 | &nbsp;&nbsp;&nbsp;&nbsp; Camelot U.S. Acquisition LLC‡<br> 7.517%, 10/30/26<br> 1 mo. LIBOR + 3.00% |  | 223148 |  |
| 60531 | &nbsp;&nbsp;&nbsp;&nbsp; Camelot U.S. Acquisition LLC‡<br> 7.517%, 10/30/26<br> 1 mo. LIBOR + 3.00% |  | 60559 |  |
| 191030 | &nbsp;&nbsp;&nbsp;&nbsp; II-VI, Inc.‡<br> 7.320%, 07/02/29<br> 1 mo. LIBOR + 2.75% |  | 190970 |  |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650164 |  |
|  | ***Information Technology (0.0%)*** |  |  |  |
| 45000 | &nbsp;&nbsp;&nbsp;&nbsp; CDK Global, Inc.‡<br> 9.080%, 07/06/29<br> 3 mo. SOFR + 4.50% |  | 44965 |  |
|  | ***Materials (0.2%)*** |  |  |  |
| 150000 | &nbsp;&nbsp;&nbsp;&nbsp; American Axle and Manufacturing, Inc.‡<br> 8.033%, 12/13/29<br> 1 mo. SOFR + 3.60% |  | 150250 |  |
| 226288 | &nbsp;&nbsp;&nbsp;&nbsp; Innophos, Inc.‡<br> 7.820%, 02/05/27<br> 1 mo. LIBOR + 3.25% |  | 226146 |  |
| 95000 | &nbsp;&nbsp;&nbsp;&nbsp; LSF11 A5 HoldCo, LLC!<br> 0.000%, 10/15/28 |  | 92863 |  |
| 94288 | &nbsp;&nbsp;&nbsp;&nbsp; LSF11 A5 HoldCo, LLC‡<br> 8.176%, 10/15/28<br> 1 mo. LIBOR + 3.50% |  | 91655 |  |
|  |  |  | 560914 |  |
|  | ***Special Purpose Acquisition Companies (0.2%)*** | ***Special Purpose Acquisition Companies (0.2%)*** | ***Special Purpose Acquisition Companies (0.2%)*** | **** |
| 162500 | &nbsp;&nbsp;&nbsp;&nbsp; AP Core Holdings II, LLC‡<br> 10.070%, 09/01/27<br> 1 mo. LIBOR + 5.50% |  | 157219 |  |
| 99500 | &nbsp;&nbsp;&nbsp;&nbsp; Clydesdale Acquisition Holdings, Inc.‡<br> 8.836%, 04/13/29<br> 1 mo. SOFR + 4.18% |  | 97912 |  |
| 44663 | &nbsp;&nbsp;&nbsp;&nbsp; Fertitta Entertainment, LLC‡<br> 8.561%, 01/27/29<br> 1 mo. SOFR + 4.00% |  | 44219 |  |
| 199500 | &nbsp;&nbsp;&nbsp;&nbsp; Oscar AcquisitionCo, LLC‡<br> 9.180%, 04/29/29<br> 3 mo. SOFR + 4.50% |  | 193736 |  |
| 179550 | &nbsp;&nbsp;&nbsp;&nbsp; Patagonia Holdco, LLC‡<br> 9.960%, 08/01/29<br> 3 mo. SOFR + 5.75% |  | 151720 |  |
|  |  |  | 644806 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL BANK LOANS**<br> (Cost $9,224,696) |  | 8793063 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**NUMBER OF** <br> **SHARES** |  | **VALUE** | **VALUE** | **VALUE** |
| **CONVERTIBLE PREFERRED STOCKS (0.4%)** | **CONVERTIBLE PREFERRED STOCKS (0.4%)** | **CONVERTIBLE PREFERRED STOCKS (0.4%)** | **CONVERTIBLE PREFERRED STOCKS (0.4%)** |  |
|  | ***Communication Services (0.1%)*** |  |  |  |
| 14325 | &nbsp;&nbsp;&nbsp;&nbsp; United States Cellular Corp.µ<br> 5.500%, 06/01/70 |  | 268021 |  |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**NUMBER OF** <br> **SHARES** | | **VALUE** | **VALUE** |
|  | ***Financials (0.3%)*** |  |  |
| 3850 | &nbsp;&nbsp;&nbsp;&nbsp; Bank OZK<br> 4.625%, 11/15/26 | $| 72188 |
| 8383 | &nbsp;&nbsp;&nbsp;&nbsp; KeyCorpµ‡<br> 6.200%, 12/15/27<br> 5 year CMT + 3.13% |  | 214856 |
| 28900 | &nbsp;&nbsp;&nbsp;&nbsp; Reinsurance Group of America, Inc.µ‡<br> 7.125%, 10/15/52<br> 5 year CMT + 3.46% |  | 769896 |
|  |  |  | 1056940 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL CONVERTIBLE PREFERRED STOCKS**<br> (Cost $1,280,929) |  | 1324961 |
| **PREFERRED STOCKS (2.8%)** | **PREFERRED STOCKS (2.8%)** | **PREFERRED STOCKS (2.8%)** | **PREFERRED STOCKS (2.8%)** |
|  | ***Communication Services (0.5%)*** |  |  |
| 21155 | &nbsp;&nbsp;&nbsp;&nbsp; AT&T, Inc.<br> 4.750%, 02/18/25 |  | 443832 |
| 9450 | &nbsp;&nbsp;&nbsp;&nbsp; AT&T, Inc.<br> 5.350%, 11/01/66 |  | 226894 |
| 56730 | &nbsp;&nbsp;&nbsp;&nbsp; Qwest Corp.µ<br> 6.500%, 09/01/56 |  | 1168638 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1839364 |
|  | ***Consumer Discretionary (0.2%)*** |  |  |
| 7685 | &nbsp;&nbsp;&nbsp;&nbsp; Ford Motor Company~µ<br> 6.200%, 06/01/59 |  | 191203 |
| 7236 | &nbsp;&nbsp;&nbsp;&nbsp; Ford Motor Companyµ<br> 6.500%, 08/15/62 |  | 176341 |
| 3615 | &nbsp;&nbsp;&nbsp;&nbsp; Guitar Center, Inc.&<br> , 01/15/26 |  | 450068 |
| 1670 | &nbsp;&nbsp;&nbsp;&nbsp; Qurate Retail, Inc.µ<br> 8.000%, 03/15/31 |  | 78657 |
|  |  |  | 896269 |
|  | ***Energy (0.5%)*** |  |  |
| 31635 | &nbsp;&nbsp;&nbsp;&nbsp; Energy Transfer, LP‡<br> 7.625%, 08/15/23<br> 3 mo. USD LIBOR + 4.74 |  | 765251 |
| 24000 | &nbsp;&nbsp;&nbsp;&nbsp; NuStar Energy, LP‡<br> 10.379%, 03/02/23<br> 3 mo. USD LIBOR + 5.64% |  | 557760 |
| 17500 | &nbsp;&nbsp;&nbsp;&nbsp; NuStar Logistics, LP‡<br> 11.526%, 01/15/43<br> 3 mo. USD LIBOR + 6.73% |  | 438725 |
|  |  |  | 1761736 |
|  | ***Financials (1.1%)*** |  |  |
| 8975 | &nbsp;&nbsp;&nbsp;&nbsp; Affiliated Managers Group, Inc.<br> 4.750%, 09/30/60 |  | 179500 |
| 15560 | &nbsp;&nbsp;&nbsp;&nbsp; Annaly Capital Management, Inc.‡<br> 6.950%, 03/02/23<br> 5 year CMT + 3.16% |  | 386666 |
| 17761 | &nbsp;&nbsp;&nbsp;&nbsp; B Riley Financial, Inc.<br> 5.250%, 08/31/28 |  | 377244 |
| 7475 | &nbsp;&nbsp;&nbsp;&nbsp; B Riley Financial, Inc.<br> 6.000%, 01/31/28 |  | 165497 |
| 3675 | &nbsp;&nbsp;&nbsp;&nbsp; Capital One Financial Corp.µ<br> 4.800%, 06/01/25 |  | 76440 |
| 27375 | &nbsp;&nbsp;&nbsp;&nbsp; CNO Financial Group, Inc.<br> 5.125%, 11/25/60 |  | 497677 |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Long/Short Equity & Dynamic Income Trust** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**NUMBER OF** <br> **SHARES** | | **VALUE** | **VALUE** |
| 4608 | &nbsp;&nbsp;&nbsp;&nbsp; Cullen/Frost Bankers, Inc.µ<br> 4.450%, 12/15/25 | $| 92344 |
| 8923 | &nbsp;&nbsp;&nbsp;&nbsp; Ellington Financial, Inc.µ‡<br> 6.250%, 01/30/27<br> 5 year CMT + 4.99% |  | 175962 |
| 3184 | &nbsp;&nbsp;&nbsp;&nbsp; First Citizens BancShares, Inc.^<br>5.625%, 01/04/27 |  | 68074 |
| 7332 | &nbsp;&nbsp;&nbsp;&nbsp; First Republic Bankµ<br>4.000%, 08/30/26 |  | 134029 |
| 5687 | &nbsp;&nbsp;&nbsp;&nbsp; First Republic Bankµ<br>4.125%, 10/30/25 |  | 107143 |
| 5850 | &nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley<br>4.250%, 01/15/27 |  | 116649 |
| 5400 | &nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanleyµ<br>6.500%, 10/15/27 |  | 140616 |
| 19000 | &nbsp;&nbsp;&nbsp;&nbsp; Prospect Capital Corp.<br>5.350%, 07/01/26 |  | 325280 |
| 33732 | &nbsp;&nbsp;&nbsp;&nbsp; Selective Insurance Group, Inc.µ<br>4.600%, 12/15/25 |  | 628427 |
| 8025 | &nbsp;&nbsp;&nbsp;&nbsp; Spirit Realty Capital, Inc.µ<br>6.000%, 03/02/23 |  | 194044 |
| 18602 | &nbsp;&nbsp;&nbsp;&nbsp; Western Alliance Bancorpµ‡<br>4.250%, 09/30/26<br>5 year CMT + 3.45 |  | 399385 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4064977 |
|  | ***Industrials (0.1%)*** |  |  |
| 7275 | &nbsp;&nbsp;&nbsp;&nbsp; WESCO International, Inc.µ‡<br>10.625%, 06/22/25<br>5 year CMT + 10.33 |  | 197880 |
|  | ***Real Estate (0.2%)*** |  |  |
| 30350 | &nbsp;&nbsp;&nbsp;&nbsp; Brookfield Property Partners, LP~ 5.750%, 03/31/25 |  | 553584 |
| 12800 | &nbsp;&nbsp;&nbsp;&nbsp; Brookfield Property Partners, LP~ 6.375%, 09/30/24 |  | 254336 |
| 6245 | &nbsp;&nbsp;&nbsp;&nbsp; Global Net Lease, Inc.µ<br>6.875%, 11/26/24 |  | 147195 |
|  |  |  | 955115 |
|  | ***Utilities (0.2%)*** |  |  |
| 14975 | &nbsp;&nbsp;&nbsp;&nbsp; Brookfield Renewable Partners, LP<br>5.250%, 03/31/25 |  | 314325 |
| 13450 | &nbsp;&nbsp;&nbsp;&nbsp; DTE Energy Company~µ<br>5.250%, 12/01/77 |  | 333560 |
|  |  |  | 647885 |
|  | **TOTAL PREFERRED STOCKS**<br> (Cost $11,956,351) |  | 10363226 |
| **COMMON STOCKS (86.1%)** | **COMMON STOCKS (86.1%)** | **COMMON STOCKS (86.1%)** | **COMMON STOCKS (86.1%)** |
|  | ***Communication Services (4.7%)*** |  |  |
| 178000 | &nbsp;&nbsp;&nbsp;&nbsp; Alphabet, Inc. - Class A~^# |  | 17593520 |
| 3935 | &nbsp;&nbsp;&nbsp;&nbsp; Altice USA, Inc. - Class A# |  | 19282 |
| 1322 | &nbsp;&nbsp;&nbsp;&nbsp; Cumulus Media, Inc. - Class Aµ# |  | 8857 |
|  |  |  | 17621659 |
|  | ***Consumer Discretionary (13.6%)*** |  |  |
| 191400 | &nbsp;&nbsp;&nbsp;&nbsp; Amazon.com, Inc.~# |  | 19739082 |
| 3500 | &nbsp;&nbsp;&nbsp;&nbsp; Booking Holdings, Inc.# |  | 8519350 |
| 189000 | &nbsp;&nbsp;&nbsp;&nbsp; Caesars Entertainment, Inc.~µ# |  | 9839340 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**NUMBER OF** <br> **SHARES** | | | **VALUE** | **VALUE** | **VALUE** |
| 73000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Marriott International, Inc. - Class A | $| 12715140 |  |
|  |  |  |  | 50812912 |  |
|  |  | ***Consumer Staples (2.8%)*** |  |  |  |
| 134000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Sysco Corp.~ |  | 10379640 |  |
|  |  | ***Energy (0.1%)*** |  |  |  |
| 560 |  | &nbsp;&nbsp;&nbsp;&nbsp; Chesapeake Energy Corp.µ |  | 48563 |  |
| 12950 |  | &nbsp;&nbsp;&nbsp;&nbsp; Energy Transfer, LP |  | 171976 |  |
|  |  |  |  | 220539 |  |
|  |  | ***Financials (13.1%)*** |  |  |  |
| 500000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Huntington Bancshares, Inc.~^ |  | 7585000 |  |
| 140000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley~^ |  | 13626200 |  |
| 2545000 | GBP | &nbsp;&nbsp;&nbsp;&nbsp; NatWest Group, PLC |  | 9709319 |  |
| 65500 |  | &nbsp;&nbsp;&nbsp;&nbsp; PNC Financial Services Group, Inc.~µ^ |  | 10835665 |  |
| 158000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Wells Fargo & Company^ |  | 7405460 |  |
|  |  |  |  | 49161644 |  |
|  |  | ***Health Care (5.5%)*** |  |  |  |
| 175000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Boston Scientific Corp.~^# |  | 8093750 |  |
| 12000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Danaher Corp.~^ |  | 3172560 |  |
| 18000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Humana, Inc.~ |  | 9210600 |  |
|  |  |  |  | 20476910 |  |
|  |  | ***Industrials (30.4%)*** |  |  |  |
| 173500 |  | &nbsp;&nbsp;&nbsp;&nbsp; AerCap Holdings, NV# |  | 10966935 |  |
| 331000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Air Lease Corp. - Class A^ |  | 14885070 |  |
| 384000 |  | &nbsp;&nbsp;&nbsp;&nbsp; CSX Corp.~^ |  | 11873280 |  |
| 327000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Delta Air Lines, Inc.^# |  | 12785700 |  |
| 48000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Honeywell International, Inc.^ |  | 10007040 |  |
| 60500 |  | &nbsp;&nbsp;&nbsp;&nbsp; L3Harris Technologies, Inc.~ |  | 12996610 |  |
| 103000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Raytheon Technologies Corp.~µ |  | 10284550 |  |
| 188000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Southwest Airlines Company~ |  | 6724760 |  |
| 96000 |  | &nbsp;&nbsp;&nbsp;&nbsp; TransUnion~ |  | 6888000 |  |
| 243000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Uber Technologies, Inc.~# |  | 7515990 |  |
| 42500 |  | &nbsp;&nbsp;&nbsp;&nbsp; Union Pacific Corp.~ |  | 8678075 |  |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113606010 |  |
|  |  | ***Information Technology (14.0%)*** | ***Information Technology (14.0%)*** | ***Information Technology (14.0%)*** | **** |
| 92500 |  | &nbsp;&nbsp;&nbsp;&nbsp; Advanced Micro Devices, Inc.^# |  | 6951375 |  |
| 45000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Analog Devices, Inc.~ |  | 7716150 |  |
| 67100 |  | &nbsp;&nbsp;&nbsp;&nbsp; Microsoft Corp.^ |  | 16628051 |  |
| 16500 |  | &nbsp;&nbsp;&nbsp;&nbsp; Paycom Software, Inc.~# |  | 5345010 |  |
| 68000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Visa, Inc. - Class A~ |  | 15654280 |  |
|  |  |  |  | 52294866 |  |
|  |  | ***Materials (1.9%)*** |  |  |  |
| 22000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Linde, PLC~ |  | 7280680 |  |
|  |  | ***Real Estate (0.0%)*** |  |  |  |
| 5466 |  | &nbsp;&nbsp;&nbsp;&nbsp; American Finance Trust, Inc.µ |  | 130091 |  |
|  |  | ***Special Purpose Acquisition Company (0.0%)*** | ***Special Purpose Acquisition Company (0.0%)*** | ***Special Purpose Acquisition Company (0.0%)*** | **** |
| 1377 |  | &nbsp;&nbsp;&nbsp;&nbsp; Intelsat Emergence, SA~# |  | 32015 |  |
|  |  | **TOTAL COMMON STOCKS** |  |  |  |
|  |  | (Cost $321,236,678) |  | 322016966 |  |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Long/Short Equity & Dynamic Income Trust** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | |
|:---|:---|:---|
| **NUMBER OF<br> CONTRACTS/** <br> **NOTIONAL<br>AMOUNT** | | **VALUE** |
| **PURCHASED OPTIONS (1.6%) #** | **PURCHASED OPTIONS (1.6%) #** | **PURCHASED OPTIONS (1.6%) #** |
|  | ***Airlines (0.3%)*** |  |
| 1465 | &nbsp;&nbsp;&nbsp;&nbsp; United Airlines Holdings, Inc. |  |
| 7172640 | &nbsp;&nbsp;&nbsp;&nbsp; Call, 02/17/23, Strike $41.00 | &nbsp;&nbsp;&nbsp;&nbsp;$1193975 |
|  | ***Communication Services (0.4%)*** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Alphabet, Inc. |  |
| 1780 |  |  |
| 17593520 | &nbsp;&nbsp;&nbsp;&nbsp; Put, 02/03/23, Strike $95.00 | 237630 |
| 1780 |  |  |
| 17593520 | &nbsp;&nbsp;&nbsp;&nbsp; Call, 02/03/23, Strike $92.00 | 1299400 |
|  |  | 1537030 |
|  | ***Consumer Staples (0.0%)*** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Sysco Corp. |  |
| 1305 |  |  |
| 10108530 | &nbsp;&nbsp;&nbsp;&nbsp; Call, 02/03/23, Strike $80.00 | 19575 |
| 435 |  |  |
| 3369510 | &nbsp;&nbsp;&nbsp;&nbsp; Put, 02/03/23, Strike $74.00 | 4350 |
|  |  | 23925 |
|  | ***Health Care (0.0%)*** |  |
| 180 | &nbsp;&nbsp;&nbsp;&nbsp; Humana, Inc. |  |
| 9210600 | &nbsp;&nbsp;&nbsp;&nbsp; Put, 02/17/23, Strike $480.00 | 67500 |
|  | ***Industrials (0.0%)*** |  |
| 695 | &nbsp;&nbsp;&nbsp;&nbsp; Raytheon Technologies Corp. |  |
| 6939575 | &nbsp;&nbsp;&nbsp;&nbsp; Call, 02/17/23, Strike $100.00 | 136567 |
|  | ***Information Technology (0.2%)*** |  |
| 1090 | &nbsp;&nbsp;&nbsp;&nbsp; Advanced Micro Devices, Inc. |  |
| 8191350 | &nbsp;&nbsp;&nbsp;&nbsp; Put, 02/03/23, Strike $73.00 | 198380 |
| 900 | &nbsp;&nbsp;&nbsp;&nbsp; Apple, Inc. |  |
| 12986100 | &nbsp;&nbsp;&nbsp;&nbsp; Put, 02/17/23, Strike $130.00 | 66150 |
| 1250 | &nbsp;&nbsp;&nbsp;&nbsp; Docusign, Inc. |  |
| 7580000 | &nbsp;&nbsp;&nbsp;&nbsp; Call, 02/03/23, Strike $58.00 | 425000 |
|  |  | 689530 |
|  | ***Other (0.7%)*** |  |
| 2090 | &nbsp;&nbsp;&nbsp;&nbsp; SPDR S&P 500 ETF Trust |  |
| 84954320 | &nbsp;&nbsp;&nbsp;&nbsp; Call, 02/03/23, Strike $395.00 | 2501730 |
|  | **TOTAL PURCHASED OPTIONS**<br> (Cost $3,321,995) | 6150257 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL INVESTMENTS (125.2%)**<br>(Cost $479,324,106) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL INVESTMENTS (125.2%)**<br>(Cost $479,324,106) | 467993689 |
| LIABILITIES, LESS OTHER ASSETS (-25.2%) | LIABILITIES, LESS OTHER ASSETS (-25.2%) | (94189750) |
| **NET ASSETS (100.0%)** | **NET ASSETS (100.0%)** | $373803939 |
| **NUMBER OF**<br> **SHARES** |  | **VALUE** |
| **COMMON STOCKS SOLD SHORT (-8.0%) #** | **COMMON STOCKS SOLD SHORT (-8.0%) #** | **COMMON STOCKS SOLD SHORT (-8.0%) #** |
|  | ***Consumer Staples (-0.9%)*** |  |
| (6600) | &nbsp;&nbsp;&nbsp;&nbsp; Costco Wholesale Corp. | (3373858) |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**NUMBER OF** <br> **SHARES** | | **VALUE** | **VALUE** |
|  | ***Health Care (-0.9%)*** |  |  |
| (4700) | &nbsp;&nbsp;&nbsp;&nbsp; Regeneron Pharmaceuticals, Inc. | $| (3565142) |
|  | ***Information Technology (-6.2%)*** |  |  |
| (44000) | &nbsp;&nbsp;&nbsp;&nbsp; Apple, Inc. |  | (6348843) |
| (21000) | &nbsp;&nbsp;&nbsp;&nbsp; First Solar, Inc. |  | (3729683) |
| (19100) | &nbsp;&nbsp;&nbsp;&nbsp; Lam Research Corp. |  | (9551993) |
| (71500) | &nbsp;&nbsp;&nbsp;&nbsp; STMicroelectronics, NV |  | (3376314) |
|  |  |  | (23006833) |
|  | **TOTAL COMMON STOCKS**<br> **SOLD SHORT**<br> (Proceeds $26,845,014) |  | (29945833) |
| **EXCHANGE-TRADED FUND SOLD SHORT (-50.0%) #** | **EXCHANGE-TRADED FUND SOLD SHORT (-50.0%) #** | **EXCHANGE-TRADED FUND SOLD SHORT (-50.0%) #** | **EXCHANGE-TRADED FUND SOLD SHORT (-50.0%) #** |
|  | ***Other (-50.0%)*** |  |  |
| (459500) | &nbsp;&nbsp;&nbsp;&nbsp; SPDR S&P 500 ETF Trust<br> (Proceeds $178,885,138) |  | (186778560) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL SECURITIES SOLD SHORT**<br> (Proceeds $205,730,152) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL SECURITIES SOLD SHORT**<br> (Proceeds $205,730,152) |  | (216724393) |
| **NUMBER OF<br> CONTRACTS/** <br> **NOTIONAL<br>AMOUNT** |  | **VALUE** | **VALUE** |
| **WRITTEN OPTIONS (-0.5%) #** | **WRITTEN OPTIONS (-0.5%) #** | **WRITTEN OPTIONS (-0.5%) #** | **WRITTEN OPTIONS (-0.5%) #** |
|  | ***Airlines (0.0%)*** |  |  |
| 1165 | &nbsp;&nbsp;&nbsp;&nbsp; United Airlines Holdings, Inc. |  |  |
| 5703840 | &nbsp;&nbsp;&nbsp;&nbsp; Put, 02/17/23, Strike $45.00 |  | (44270) |
|  | ***Communication Services (-0.1%)*** |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Alphabet, Inc. |  |  |
| 350 |  |  |  |
| 3459400 | &nbsp;&nbsp;&nbsp;&nbsp; Call, 02/03/23, Strike $100.00 |  | (82075) |
| 350 |  |  |  |
| 3459400 | &nbsp;&nbsp;&nbsp;&nbsp; Put, 02/03/23, Strike $100.00 |  | (122500) |
|  |  |  | (204575) |
|  | ***Consumer Staples (0.0%)*** |  |  |
| 435 | &nbsp;&nbsp;&nbsp;&nbsp; Sysco Corp. |  |  |
| 3369510 | &nbsp;&nbsp;&nbsp;&nbsp; Put, 02/03/23, Strike $78.00 |  | (48937) |
|  | ***Energy (0.0%)*** |  |  |
| 1930 | &nbsp;&nbsp;&nbsp;&nbsp; BP, PLC |  |  |
| 6992390 | &nbsp;&nbsp;&nbsp;&nbsp; Put, 02/10/23, Strike $36.00 |  | (125450) |
|  | ***Financials (0.0%)*** |  |  |
| 240 | &nbsp;&nbsp;&nbsp;&nbsp; First Republic Bank |  |  |
| 3381120 | &nbsp;&nbsp;&nbsp;&nbsp; Call, 02/17/23, Strike $140.00 |  | (114000) |
|  | ***Health Care (-0.1%)*** |  |  |
| 360 | &nbsp;&nbsp;&nbsp;&nbsp; Humana, Inc. |  |  |
| 18421200 | &nbsp;&nbsp;&nbsp;&nbsp; Put, 05/19/23, Strike $400.00 |  | (147600) |
|  | ***Industrials (0.0%)*** |  |  |
| 960 | &nbsp;&nbsp;&nbsp;&nbsp; Transunion |  |  |
| 6888000 | &nbsp;&nbsp;&nbsp;&nbsp; Call, 02/17/23, Strike $75.00 |  | (122400) |
|  | ***Information Technology (-0.2%)*** |  |  |
| 1090 | &nbsp;&nbsp;&nbsp;&nbsp; Advanced Micro Devices, Inc. |  |  |
| 8191350 | &nbsp;&nbsp;&nbsp;&nbsp; Call, 02/17/23, Strike $83.00 |  | (142790) |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Long/Short Equity & Dynamic Income Trust** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | |
|:---|:---|:---|
| **NUMBER OF<br> CONTRACTS/** <br> **NOTIONAL**<br> **AMOUNT** | | **VALUE** |
| 170 | &nbsp;&nbsp;&nbsp;&nbsp; First Solar, Inc. |  |
| 3019200 | &nbsp;&nbsp;&nbsp;&nbsp; Call, 03/17/23, Strike $200.00 | $(81175) |
| 96 | &nbsp;&nbsp;&nbsp;&nbsp; Lam Research Corp. |  |
| 4800960 | &nbsp;&nbsp;&nbsp;&nbsp; Call, 02/03/23, Strike $475.00 | (257520) |
| 375 | &nbsp;&nbsp;&nbsp;&nbsp; STMicroelectronics, NV |  |
| 1770750 | &nbsp;&nbsp;&nbsp;&nbsp; Call, 02/17/23, Strike $46.00 | (87188) |
| 340 | &nbsp;&nbsp;&nbsp;&nbsp; Visa, Inc. |  |
| 7827140 | &nbsp;&nbsp;&nbsp;&nbsp; Call, 03/17/23, Strike $240.00 | (95200) |
|  |  | (663873) |
|  | ***Materials (0.0%)*** |  |
| 345 | &nbsp;&nbsp;&nbsp;&nbsp; Sherwin-Williams Company |  |
| 8162355 | &nbsp;&nbsp;&nbsp;&nbsp; Put, 03/17/23, Strike $200.00 | (37950) |
|  | ***Other (-0.1%)*** |  |
| 1185 | &nbsp;&nbsp;&nbsp;&nbsp; SPDR S&P 500 ETF Trust |  |
| 48167880 | &nbsp;&nbsp;&nbsp;&nbsp; Put, 03/17/23, Strike $331.00 | (58065) |
| 1165 | &nbsp;&nbsp;&nbsp;&nbsp; SPDR S&P Metals & Mining ETF |  |
| 6654480 | &nbsp;&nbsp;&nbsp;&nbsp; Call, 02/17/23, Strike $59.00 | (122325) |
|  |  | (180390) |
|  | **TOTAL WRITTEN OPTIONS**<br> (Premium $1,757,764) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1689445) |

---

---

| | |
|:---|:---|
| **NOTES TO SCHEDULE OF INVESTMENTS** | **NOTES TO SCHEDULE OF INVESTMENTS** |
| \* | Securities issued and sold pursuant to a Rule 144A transaction are exempted from the registration requirement of the Securities Act of 1933, as amended. These securities may only be sold to qualified institutional buyers ("QIBs"), such as the Fund. Any resale of these securities must generally be effected through a sale that is registered under the Act or otherwise exempted from such registration requirements. |

---

---

| | |
|:---|:---|
| **~** | Security, or portion of security, is segregated as collateral (or potential collateral for future transactions) for written options. The aggregate value of such securities is $157,415,737. |
| **µ** | Security, or portion of security, is held in a segregated account as collateral for note payable aggregating a total value of $30,934,364. |
| **@** | In default status and considered non-income producing. |
| **‡** | Variable rate security. The rate shown is the rate in effect at January 31, 2023. |
| **^** | Security, or portion of security, is on loan. |
| **¡** | Bank loans generally are subject to mandatory and/or optional prepayment. As a result, the actual remaining maturity of bank loans may be substantially less than the stated maturities shown. |
| **!** | This position represents an unsettled loan commitment at period end. Certain details associated with this purchase are not known prior to the settlement date, including coupon rate, which will be adjusted on settlement date. |
| **&** | Illiquid security. |
| **#** | Non-income producing security. |
| **FOREIGN CURRENCY ABBREVIATIONS** | **FOREIGN CURRENCY ABBREVIATIONS** |
| **CAD** | Canadian Dollar |
| **GBP** | British Pound Sterling |
| **JPY** | Japanese Yen |
| *Note: Value for securities denominated in foreign currencies is shown in U.S. dollars. The date on options represents the expiration date of the option contract. The option contract may be exercised at any date on or before the date shown.* | *Note: Value for securities denominated in foreign currencies is shown in U.S. dollars. The date on options represents the expiration date of the option contract. The option contract may be exercised at any date on or before the date shown.* |

---

See accompanying Notes to Schedule of Investments

------

**Note 1 – Organization and Significant Accounting Policies** 

**Organization.** Calamos Long/Short Equity & Dynamic Income Trust (the "Fund") was organized as a Delaware statutory trust on September 21, 2017 and is registered under the Investment Company Act of 1940 (the "1940 Act") as a diversified, closed-end management investment company. The Fund commenced operations on November 29, 2019.

**Significant Accounting Policies.** The Schedule of Investments has been prepared in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP) and the Fund is considered an investment company under U.S. GAAP and follows the accounting and reporting guidance applicable to investment companies. The following summarizes the significant accounting policies of the Fund:

**Fund Valuation.** The Trust's Board of Trustees, including a majority of the Trustees who are not "interested persons" of the Trust, have designated Calamos Advisors LLC ("Calamos Advisors") to perfom fair valuation determinations related to all Fund investments under the oversight of the Board. As "valuation designee" the Calamos Advisors has adopted procedures to guide the determination of the NAV on any day on which the Fund's NAVs are dertermined. The valuation of the Fund's investments is in accordance with these procedures.

Fund securities that are traded on U.S. securities exchanges, except option securities, are valued at the official closing price, which is the last current reported sales price on its principal exchange at the time each Fund determines its net asset value ("NAV"). Securities traded in the over-the-counter market and quoted on The NASDAQ Stock Market are valued at the NASDAQ Official Closing Price, as determined by NASDAQ, or lacking a NASDAQ Official Closing Price, the last current reported sale price on NASDAQ at the time the Fund determines its NAV. When a last sale or closing price is not available, equity securities, other than option securities, that are traded on a U.S. securities exchange and other equity securities traded in the over-the-counter market are valued at the mean between the most recent bid and asked quotations on its principal exchange in accordance with guidelines adopted by the board of trustees. Each option security traded on a U.S. securities exchange is valued at the mid-point of the consolidated bid/ask quote for the option security, also in accordance with guidelines adopted by the board of trustees. Each over-the-counter option that is not traded through the Options Clearing Corporation is valued either by an independent pricing agent approved by the board of trustees or based on a quotation provided by the counterparty to such option under the ultimate supervision of the board of trustees.

Fixed income securities, bank loans, certain convertible preferred securities, and non-exchange traded derivatives are normally valued by independent pricing services or by dealers or brokers who make markets in such securities. Valuations of such fixed income securities, bank loans, certain convertible preferred securities, and non-exchange traded derivatives consider yield or price of equivalent securities of comparable quality, coupon rate, maturity, type of issue, trading characteristics and other market data and do not rely exclusively upon exchange or over-the-counter prices.

Trading on European and Far Eastern exchanges and over-the-counter markets is typically completed at various times before the close of business on each day on which the New York Stock Exchange ("NYSE") is open. Each security trading on these exchanges or in over-the-counter markets may be valued utilizing a systematic fair valuation model provided by an independent pricing service approved by the board of trustees. The valuation of each security that meets certain criteria in relation to the valuation model is systematically adjusted to reflect the impact of movement in the U.S. market after the foreign markets close. Securities that do not meet the criteria, or that are principally traded in other foreign markets, are valued as of the last reported sale price at the time the Fund determines its NAV, or when reliable market prices or quotations are not readily available, at the mean between the most recent bid and asked quotations as of the close of the appropriate exchange or other designated time. Trading of foreign securities may not take place on every NYSE business day. In addition, trading may take place in various foreign markets on Saturdays or on other days when the NYSE is not open and on which the Fund's NAV is not calculated.

If the pricing committee determines that the valuation of a security in accordance with the methods described above is not reflective of a fair value for such security, the security is valued at a fair value by the pricing committee.

The Fund also may use fair value pricing, pursuant to guidelines adopted by Calamos Advisors, if trading in the security is halted or if the value of a security it holds is materially affected by events occurring before the Fund's pricing time but after the close of the primary market or exchange on which the security is listed. Those procedures may utilize valuations furnished by pricing services approved by Calamos Advisors, which may be based on market transactions for comparable securities and various relationships between securities that are generally recognized by institutional traders, a computerized matrix system, or appraisals derived from information concerning the securities or similar securities received from recognized dealers in those securities.

When fair value pricing of securities is employed, the prices of securities used by a Fund to calculate its NAV may differ from market quotations or official closing prices. There can be no assurance that the Fund could purchase or sell a portfolio security at the price used to calculate the Fund's net asset value ("NAV").

**Foreign Currency Translation.** Values of investments and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars using a rate quoted by a major bank or dealer in the particular currency market, as reported by a recognized quotation dissemination service.

**Option Transactions.** For hedging and investment purposes, the Fund may purchase or write (sell) put and call options. One of the risks associated with purchasing an option is that the Fund pays a premium whether or not the option is exercised. Additionally, the Fund bears the risk of loss of premium and change in value should the counterparty not perform under the contract. The Fund as writer of an option bears the market risk of an unfavorable change in the price of the security underlying the written option.

**Note 2 – Investments** 

The cost basis of investments for federal income tax purposes at January 31, 2023 was as follows\*:

---

| | |
|:---|:---|
|  Cost basis of investments | $271796922 |
|  Gross unrealized appreciation | 14671765 |
|  Gross unrealized depreciation | (36926345) |
|  Net unrealized appreciation (depreciation) | $(22254580) |

---

------

\* Because tax adjustments are calculated annually, the above table does not reflect tax adjustments. For the previous fiscal year's federal income tax information, please refer to the Notes to Financial Statements section in the Fund's most recent semi-annual or annual report.

**Note 3 – Short Sales** 

Securities sold short represent obligations to deliver the securities at a future date. The Fund may sell a security it does not own in anticipation of a decline in the value of that security before the delivery date. When a Fund sells a security short, it must borrow the security sold short and deliver it to the broker-dealer through which it made the short sale. Dividends paid on securities sold short are disclosed as an expense on the Statement of Operations. A gain, limited to the price at which a Fund sold the security short, or a loss, unlimited in size, will be realized upon the termination of a short sale.

To secure its obligation to deliver to the broker-dealer the securities sold short, the Fund must segregate an amount of cash or liquid securities with its custodian equal to any excess of the current market value of the securities sold short over any cash or liquid securities deposited as collateral with the broker in connection with the short sale (not including the proceeds of the short sale). As a result of that requirement, the Fund will not gain any leverage merely by selling short, except to the extent that it earns interest or other income or gains on the segregated cash or liquid securities while also being subject to the possibility of gain or loss from the securities sold short.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Calamos Long/Short Equity & Dynamic Income Trust

- **b. Investment Company Act file number:** 811-23295

- **c. CIK number of Registrant:** 0001717457

- **d. LEI of Registrant:** 54930028TUOZZMUQBY94

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

  - **Street Address 1:** 2020 Calamos Court

  - **City:** Naperville

  - **State:** IL

  - **Foreign country:** US

  - **Zip / Postal Code:** 60563

  - **Telephone number:** 6302457200

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

- **a. Name of Series:** Calamos Long/Short Equity & Dynamic Income Trust

- **c. LEI of Series:** 54930028TUOZZMUQBY94

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

- **a. Date of fiscal year-end:** 2023-10-31

- **b. Date as of which information is reported:** 2023-01-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $508279830.42

**Total Liabilities:** $134496702.20

**Net Assets:** $373783128.22

**Cash Not Reported:** $19933891.96

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -47.828299600000 | **1-Year:** -2302.530000000000 | **5-Year:** -6706.980000000000 | **10-Year:** -9140.690000000000 | **30-Year:** -12042.620000000000

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

- **3-Month:** -156.901059400000 | **1-Year:** -6559.900000000000 | **5-Year:** -20627.660000000000 | **10-Year:** -14456.440000000000 | **30-Year:** -16027.660000000000

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | 6.21%                | -3.77%               | 8.24%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $5475747.74              | $12866504.78                               |
| Month 2  | $3275691.21              | $-17252951.29                              |
| Month 3  | $8526071.77              | $14953853.96                               |

**Designated Index Information**

- **Index Name:** Calamos Blended Benchmark

- **Index Identifier:** CI_Blend

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AMWINS GROUP INC                                    | AMWINS GROUP INC SR UNSECURED 144A 06/29 4.875           | CUSIP: 031921AB5<br>LEI: 549300SJE7MUB8NMRG61 | Long             | DBT              | CORP              | US        |    379000 | PA      | $334452.34     | 0.09%             | 2029-06-30      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| ANTERO RESOURCES CORP                               | ANTERO RESOURCES CORP COMPANY GUAR 144A 03/30 5.375      | CUSIP: 03674XAS5<br>LEI: APVBKPOULHUX7YZLKU17 | Long             | DBT              | CORP              | US        |    190000 | PA      | $177368.80     | 0.05%             | 2030-03-01      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| BATH & BODY WORKS INC                               | BATH + BODY WORKS INC COMPANY GUAR 11/35 6.875           | CUSIP: 501797AL8<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | DBT              | CORP              | US        |    235000 | PA      | $216888.55     | 0.06%             | 2035-11-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| LCPR SR SECURED FIN DAC                             | LCPR SR SECURED FIN DAC SR SECURED 144A 10/27 6.75       | CUSIP: 50201DAA1<br>LEI: 549300LE5FM8IKMXSP90 | Long             | DBT              | CORP              | IE        |    230000 | PA      | $224171.80     | 0.06%             | 2027-10-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| JELD-WEN INC                                        | JELD WEN INC COMPANY GUAR 144A 12/25 4.625               | CUSIP: 475795AC4<br>LEI: 549300XWE6NM0N1HFW16 | Long             | DBT              | CORP              | US        |    290000 | PA      | $256995.10     | 0.07%             | 2025-12-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                 | JPMORGAN CHASE + CO JR SUBORDINA 12/99 VAR               | CUSIP: 48128BAN1<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   2840000 | PA      | $2563952.00    | 0.69%             | 2063-01-31      | Variable      | 3.65%                 | No            |                  2 | On Loan: No      |
| AMER AIRLINE 21-1B PTT                              | AMER AIRLINE 21 1B PTT PASS THRU CE 01/32 3.95           | CUSIP: 02376LAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    220220 | PA      | $186772.99     | 0.05%             | 2030-07-11      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| AMERICAN INTL GROUP                                 | AMERICAN INTL GROUP JR SUBORDINA 04/48 VAR               | CUSIP: 026874DM6<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | DBT              | CORP              | US        |    685000 | PA      | $675142.85     | 0.18%             | 2048-04-01      | Variable      | 5.75%                 | No            |                  2 | On Loan: No      |
| AG ISSUER LLC                                       | AG ISSUER LLC SR SECURED 144A 03/28 6.25                 | CUSIP: 00119LAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    311000 | PA      | $294299.30     | 0.08%             | 2028-03-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| MIWD HLDCO II/MIWD FIN                              | MIWD HLDCO II/MIWD FIN COMPANY GUAR 144A 02/30 5.5       | CUSIP: 55337PAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    211000 | PA      | $175811.53     | 0.05%             | 2030-02-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| LPL HOLDINGS INC                                    | LPL HOLDINGS INC COMPANY GUAR 144A 03/29 4               | CUSIP: 50212YAD6<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |    139000 | PA      | $124473.11     | 0.03%             | 2029-03-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| LSF11 A5 HOLDCO LLC                                 | LSF11 A5 HOLDCO LLC TERM LOAN                            | CUSIP: 50216YAB6<br>LEI: 254900FPK7P5WNA66Y10 | Long             | LON              | CORP              | US        |     94288 | PA      | $91655.46      | 0.02%             | 2028-10-13      | Floating      | 9.37%                 | No            |                  2 | On Loan: No      |
| APACHE CORP                                         | APACHE CORP SR UNSECURED 09/40 5.1                       | CUSIP: 037411AW5<br>LEI: 72ZZ1XRHOOU9P9X16K08 | Long             | DBT              | CORP              | US        |    192000 | PA      | $167761.92     | 0.04%             | 2040-09-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| ARCELORMITTAL                                       | ARCELORMITTAL SR UNSECURED 10/39 7                       | CUSIP: 03938LAP9<br>LEI: 549300MP4YSRSQ39ZG33 | Long             | DBT              | CORP              | LU        |    150000 | PA      | $162441.00     | 0.04%             | 2039-10-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| KBR INC                                             | KBR INC COMPANY GUAR 144A 09/28 4.75                     | CUSIP: 48242WAC0<br>LEI: 254900OFQDXZRKRCV808 | Long             | DBT              | CORP              | US        |    210000 | PA      | $191769.90     | 0.05%             | 2028-09-30      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| KAISER ALUMINUM CORP                                | KAISER ALUMINUM CORP COMPANY GUAR 144A 03/28 4.625       | CUSIP: 483007AJ9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    210000 | PA      | $192217.20     | 0.05%             | 2028-03-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| ACCO BRANDS CORP                                    | ACCO BRANDS CORP COMPANY GUAR 144A 03/29 4.25            | CUSIP: 00081TAK4<br>LEI: JCT8P4Y190IH4I1NX328 | Long             | DBT              | CORP              | US        |    220000 | PA      | $190484.80     | 0.05%             | 2029-03-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                              | CCO HLDGS LLC/CAP CORP SR UNSECURED 144A 03/30 4.75      | CUSIP: 1248EPCD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    750000 | PA      | $656490.00     | 0.18%             | 2030-03-01      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| AMNEAL PHARMACEUTICALS LLC                          | AMNEAL PHARMACEUTICALS LLC TERM LOAN B                   | CUSIP: 03167DAH7<br>LEI: 54930037VIXE7LRZ1M66 | Long             | LON              | CORP              | US        |    325393 | PA      | $307564.76     | 0.08%             | 2025-05-04      | Floating      | 8.22%                 | No            |                  2 | On Loan: No      |
| DTE ENERGY CO                                       | DTE ENERGY CO PREFERRED STOCK 12/77 5.25                 | CUSIP: 233331859<br>LEI: 549300IX8SD6XXD71I78 | Long             | EP               | CORP              | US        |     13450 | NS      | $333560.00     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| MATCH GROUP HLD II LLC                              | MATCH GROUP HLD II LLC SR UNSECURED 144A 10/31 3.625     | CUSIP: 57667JAA0<br>LEI: 5493003RFFE030RC9167 | Long             | DBT              | CORP              | US        |     95000 | PA      | $76332.50      | 0.02%             | 2031-10-01      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| MOHEGAN TRIBAL GAMING AU                            | MOHEGAN TRIBAL GAMING AU SECURED 144A 02/26 8            | CUSIP: 608328BH2<br>LEI: 549300UB083Z2NRDHC48 | Long             | DBT              | CORP              | US        |    254000 | PA      | $240888.52     | 0.06%             | 2026-02-01      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| ARCOSA INC                                          | ARCOSA INC COMPANY GUAR 144A 04/29 4.375                 | CUSIP: 039653AA8<br>LEI: 549300WFHLTCZV7D6V29 | Long             | DBT              | CORP              | US        |    108000 | PA      | $96567.12      | 0.03%             | 2029-04-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| ARES FINANCE CO                                     | ARES FINANCE CO COMPANY GUAR 144A 06/51 VAR              | CUSIP: 04018VAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1160000 | PA      | $908256.80     | 0.24%             | 2051-06-30      | Variable      | 4.12%                 | Yes           |                  2 | On Loan: No      |
| LIFE TIME FITNESS INC                               | LIFE TIME FITNESS INC 2021 TERM LOAN B                   | CUSIP: 50218KAG3<br>LEI: 549300PALKE96VYH4X17 | Long             | LON              | CORP              | US        |     64382 | PA      | $64535.26      | 0.02%             | 2024-12-15      | Floating      | 9.73%                 | No            |                  2 | On Loan: No      |
| LADDER CAP FIN LLLP/CORP                            | LADDER CAP FIN LLLP/CORP COMPANY GUAR 144A 10/25 5.25    | CUSIP: 505742AG1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    379000 | PA      | $365170.29     | 0.10%             | 2025-10-01      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                              | CCO HLDGS LLC/CAP CORP SR UNSECURED 144A 08/30 4.5       | CUSIP: 1248EPCE1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $213907.50     | 0.06%             | 2030-08-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                              | CCO HLDGS LLC/CAP CORP SR UNSECURED 144A 02/31 4.25      | CUSIP: 1248EPCK7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    186000 | PA      | $155079.36     | 0.04%             | 2031-02-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| KAISER ALUMINUM CORP                                | KAISER ALUMINUM CORP COMPANY GUAR 144A 06/31 4.5         | CUSIP: 483007AL4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     24000 | PA      | $20335.92      | 0.01%             | 2031-06-01      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| KEN GARFF AUTOMOTIVE LLC                            | KEN GARFF AUTOMOTIVE LLC SR UNSECURED 144A 09/28 4.875   | CUSIP: 48850PAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    305000 | PA      | $263077.75     | 0.07%             | 2028-09-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| ARROW BIDCO LLC                                     | ARROW BIDCO LLC SR SECURED 144A 03/24 9.5                | CUSIP: 042728AA3<br>LEI: 549300YHZN08M0H3O128 | Long             | DBT              | CORP              | US        |    335000 | PA      | $336912.85     | 0.09%             | 2024-03-15      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| ASHTEAD CAPITAL INC                                 | ASHTEAD CAPITAL INC COMPANY GUAR 144A 08/31 2.45         | CUSIP: 045054AP8<br>LEI: 213800J1134IW58IC398 | Long             | DBT              | CORP              | US        |    200000 | PA      | $161598.00     | 0.04%             | 2031-08-12      | Fixed         | 2.45%                 | Yes           |                  2 | On Loan: No      |
| DELTA AIR LINES INC                                 | DELTA AIR LINES INC COMMON STOCK USD.0001                | CUSIP: 247361702<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | EC               | CORP              | US        |    327000 | NS      | $12785700.00   | 3.42%             |  |  |  | No            |                  1 | On Loan: —       |
| FIRST REPUBLIC BANK                                 | FIRST REPUBLIC BANK PREFERRED STOCK 4                    | CUSIP: 33616C720<br>LEI: YWC0TIKBQM2JV8L4IV08 | Long             | EP               | CORP              | US        |      7332 | NS      | $134028.96     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| LADDER CAP FIN LLLP/CORP                            | LADDER CAP FIN LLLP/CORP COMPANY GUAR 144A 06/29 4.75    | CUSIP: 505742AP1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     95000 | PA      | $79039.05      | 0.02%             | 2029-06-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| LAND O'LAKES INC                                    | LAND O LAKES INC JR SUBORDINA 144A 12/99 7               | CUSIP: 514666AN6<br>LEI: 4ONCJWH5BBCYSJIJYX61 | Long             | DBT              | CORP              | US        |    395000 | PA      | $349902.85     | 0.09%             | 2063-09-18      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                              | CCO HLDGS LLC/CAP CORP SR UNSECURED 144A 02/32 4.75      | CUSIP: 1248EPCQ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     96000 | PA      | $81679.68      | 0.02%             | 2032-02-01      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                              | CCO HLDGS LLC/CAP CORP SR UNSECURED 144A 09/29 6.375     | CUSIP: 1248EPCS0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    220000 | PA      | $212491.40     | 0.06%             | 2029-09-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| AIR CANADA 2015-1B PTT                              | AIR CANADA 2015 1B PTT PASS THRU CE 144A 09/24 3.875     | CUSIP: 009090AB7<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    282250 | PA      | $281152.53     | 0.08%             | 2023-03-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| AIR LEASE CORP                                      | AIR LEASE CORP JR SUBORDINA 12/99 VAR                    | CUSIP: 00912XBJ2<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |    810000 | PA      | $720057.60     | 0.19%             | 2063-01-31      | Variable      | 4.65%                 | No            |                  2 | On Loan: No      |
| BATH & BODY WORKS INC                               | BATH + BODY WORKS INC COMPANY GUAR 01/27 6.694           | CUSIP: 501797AQ7<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | DBT              | CORP              | US        |    254000 | PA      | $256052.32     | 0.07%             | 2027-01-15      | Fixed         | 6.69%                 | No            |                  2 | On Loan: No      |
| LSF11 A5 HOLDCO LLC                                 | LSF11 A5 HOLDCO LLC SR UNSECURED 144A 10/29 6.625        | CUSIP: 50221DAA7<br>LEI: 254900FPK7P5WNA66Y10 | Long             | DBT              | CORP              | US        |    133000 | PA      | $111088.25     | 0.03%             | 2029-10-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| ASHTON WOODS USA/FINANCE                            | ASHTON WOODS USA/FINANCE SR UNSECURED 144A 01/28 6.625   | CUSIP: 045086AK1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    194000 | PA      | $177587.60     | 0.05%             | 2028-01-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| ASHTON WOODS USA/FINANCE                            | ASHTON WOODS USA/FINANCE SR UNSECURED 144A 08/29 4.625   | CUSIP: 045086AM7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    167000 | PA      | $139550.21     | 0.04%             | 2029-08-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| RITE AID CORP                                       | RITE AID CORP SR SECURED 144A 11/26 8                    | CUSIP: 767754CL6<br>LEI: 529900W353T1JY1DKT44 | Long             | DBT              | CORP              | US        |    473000 | PA      | $264298.21     | 0.07%             | 2026-11-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| SELECTIVE INSURANCE GROU                            | SELECTIVE INSURANCE GROU PREFERRED STOCK 4.6             | CUSIP: 816300503<br>LEI: 549300R3WGJWLE40R258 | Long             | EP               | CORP              | US        |     33732 | NS      | $628427.16     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| VITAL ENERGY INC                                    | VITAL ENERGY INC COMPANY GUAR 01/25 9.5                  | CUSIP: 516806AF3<br>LEI: 549300X0PTWU2QSLSL14 | Long             | DBT              | CORP              | US        |     92000 | PA      | $92915.40      | 0.02%             | 2025-01-15      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| VITAL ENERGY INC                                    | VITAL ENERGY INC COMPANY GUAR 01/28 10.125               | CUSIP: 516806AG1<br>LEI: 549300X0PTWU2QSLSL14 | Long             | DBT              | CORP              | US        |    203000 | PA      | $202466.11     | 0.05%             | 2028-01-15      | Fixed         | 10.12%                | No            |                  2 | On Loan: No      |
| API GROUP DE INC                                    | API GROUP DE INC COMPANY GUAR 144A 10/29 4.75            | CUSIP: 00185PAA9<br>LEI: 549300XP4G7B4QYA0G83 | Long             | DBT              | CORP              | US        |    225000 | PA      | $203159.25     | 0.05%             | 2029-10-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| AP CORE HOLDINGS II LLC                             | AP CORE HOLDINGS II LLC HIGH YIELD TERM LOAN B2          | CUSIP: 00187GAD1<br>LEI: 549300PND8ZZ4RWYRZ56 | Long             | LON              | CORP              | US        |    162500 | PA      | $157218.75     | 0.04%             | 2027-09-01      | Floating      | 11.10%                | No            |                  2 | On Loan: No      |
| LUMEN TECHNOLOGIES INC                              | LUMEN TECHNOLOGIES INC SR UNSECURED 144A 01/29 4.5       | CUSIP: 156700BD7<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |     92000 | PA      | $61914.16      | 0.02%             | 2029-01-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| CHAMPIONX CORPORATION                               | CHAMPIONX CORPORATION TERM LOAN B 1                      | CUSIP: 15872NAC6<br>LEI: 549300EP2909K6DYYP38 | Long             | LON              | CORP              | US        |    234412 | PA      | $234815.69     | 0.06%             | 2029-06-07      | Floating      | 8.25%                 | No            |                  2 | On Loan: No      |
| ENTERCOM MEDIA CORP.                                | ENTERCOM MEDIA CORP 2019 TERM LOAN                       | CUSIP: 12506KAE9<br>LEI: 549300S5JUSXRHNCHD80 | Long             | LON              | CORP              | US        |    284000 | PA      | $204775.36     | 0.05%             | 2024-11-17      | Floating      | 7.74%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                            | CHS/COMMUNITY HEALTH SYS SR SECURED 144A 03/26 8         | CUSIP: 12543DBC3<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |    610000 | PA      | $593096.90     | 0.16%             | 2026-03-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| BRITISH AIR 21-1 B PTT                              | BRITISH AIR 21 1 B PTT PASS THRU CE 144A 03/33 3.9       | CUSIP: 11042CAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    206083 | PA      | $176209.40     | 0.05%             | 2031-09-15      | Fixed         | 3.90%                 | Yes           |                  2 | On Loan: No      |
| BROADSTREET PARTNERS INC                            | BROADSTREET PARTNERS INC SR UNSECURED 144A 04/29 5.875   | CUSIP: 11135RAA3<br>LEI: 549300BS9N54G8DD0R75 | Long             | DBT              | CORP              | US        |    375000 | PA      | $331496.25     | 0.09%             | 2029-04-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| AT&T INC                                            | AT+T INC PREFERRED STOCK 11/66 5.35                      | CUSIP: 00206R300<br>LEI: 549300Z40J86GGSTL398 | Long             | EP               | CORP              | US        |      9450 | NS      | $226894.50     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| AT&T INC                                            | AT+T INC PREFERRED STOCK 4.75                            | CUSIP: 00206R706<br>LEI: 549300Z40J86GGSTL398 | Long             | EP               | CORP              | US        |     21155 | NS      | $443831.90     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| CMG MEDIA CORPORATION                               | CMG MEDIA CORPORATION COMPANY GUAR 144A 12/27 8.875      | CUSIP: 88146LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     45000 | PA      | $35267.40      | 0.01%             | 2027-12-15      | Fixed         | 8.88%                 | Yes           |                  2 | On Loan: No      |
| ALLSTATE CORP                                       | ALLSTATE CORP SUBORDINATED 08/53 VAR                     | CUSIP: 020002BB6<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | DBT              | CORP              | US        |    360000 | PA      | $355536.00     | 0.10%             | 2053-08-15      | Variable      | 5.75%                 | No            |                  2 | On Loan: No      |
| ALLY FINANCIAL INC                                  | ALLY FINANCIAL INC JR SUBORDINA 12/99 VAR                | CUSIP: 02005NBM1<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |   1236000 | PA      | $1018216.80    | 0.27%             | 2063-01-31      | Variable      | 4.70%                 | No            |                  2 | On Loan: No      |
| ADVANCED MICRO DEVICES INC                          | ADVANCED MICRO DEVICES COMMON STOCK USD.01               | CUSIP: N/A<br>LEI: R2I72C950HOYXII45366       | Long             | EC               | CORP              | US        |    109000 | NS      | $8191350.00    | 2.19%             |  |  |  | No            |                  1 | On Loan: —       |
| AFFILIATED MANAGERS GROU                            | AFFILIATED MANAGERS GROU PREFERRED STOCK 09/60 4.75      | CUSIP: N/A<br>LEI: 2JE75BUE3T1BLCYYGK54       | Long             | EP               | CORP              | US        |      8975 | NS      | $179500.00     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| ALLY FINANCIAL INC                                  | ALLY FINANCIAL INC JR SUBORDINA 12/99 VAR                | CUSIP: 02005NBN9<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |    935000 | PA      | $721118.75     | 0.19%             | 2063-01-31      | Variable      | 4.70%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE SA                                    | ALTICE FRANCE SA SR SECURED 144A 10/29 5.5               | CUSIP: 02156LAH4<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |    225000 | PA      | $178004.25     | 0.05%             | 2029-10-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| AIR LEASE CORP                                      | AIR LEASE CORP JR SUBORDINA 12/99 VAR                    | CUSIP: 00912XBK9<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |    885000 | PA      | $688308.75     | 0.18%             | 2063-01-31      | Variable      | 4.12%                 | No            |                  2 | On Loan: No      |
| ALASKA AIRLINES 2020 TR                             | ALASKA AIRLINES 2020 TR PASS THRU CE 144A 02/29 4.8      | CUSIP: 01166VAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    189724 | PA      | $185218.53     | 0.05%             | 2027-08-15      | Fixed         | 4.80%                 | Yes           |                  2 | On Loan: No      |
| BEACON ROOFING SUPPLY IN                            | BEACON ROOFING SUPPLY IN COMPANY GUAR 144A 05/29 4.125   | CUSIP: 073685AH2<br>LEI: 549300HDXQWWCBOYXP31 | Long             | DBT              | CORP              | US        |    151000 | PA      | $130207.30     | 0.03%             | 2029-05-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| CASCADES INC/USA INC                                | CASCADES INC/USA INC COMPANY GUAR 144A 01/26 5.125       | CUSIP: 14739LAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     90000 | PA      | $84270.60      | 0.02%             | 2026-01-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| ALASKA AIR 2020-1 CL B                              | ALASKA AIR 2020 1 CL B PASS THRU CE 144A 02/27 8         | CUSIP: 01166WAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    110582 | PA      | $112796.30     | 0.03%             | 2025-08-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| ALBERTSONS COS/SAFEWAY                              | ALBERTSONS COS/SAFEWAY COMPANY GUAR 144A 02/28 5.875     | CUSIP: 013092AB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    145000 | PA      | $141901.35     | 0.04%             | 2028-02-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| AIR LEASE CORP                                      | AIR LEASE CORP COMMON STOCK USD.01                       | CUSIP: 00912X302<br>LEI: 5493004NW4M4P8TMMK63 | Long             | EC               | CORP              | US        |    331000 | NS      | $14885070.00   | 3.98%             |  |  |  | No            |                  1 | On Loan: —       |
| ALPHABET INC                                        | ALPHABET INC CL A COMMON STOCK USD.001                   | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |    178000 | NS      | $17593520.00   | 4.71%             |  |  |  | No            |                  1 | On Loan: —       |
| MPH ACQUISITION HOLDINGS                            | MPH ACQUISITION HOLDINGS COMPANY GUAR 144A 11/28 5.75    | CUSIP: 553283AC6<br>LEI: 5493002WXOPRPTXWTU06 | Long             | DBT              | CORP              | US        |    210000 | PA      | $152840.10     | 0.04%             | 2028-11-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| MPLX LP                                             | MPLX LP JR SUBORDINA VAR                                 | CUSIP: 55336VAU4<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |    646000 | PA      | $646413.44     | 0.17%             | 2063-01-31      | Variable      | 6.88%                 | No            |                  2 | On Loan: No      |
| ALTICE USA INC                                      | ALTICE USA INC  A COMMON STOCK USD.01                    | CUSIP: 02156K103<br>LEI: 54930064K3612MGCER95 | Long             | EC               | CORP              | US        |      3935 | NS      | $19281.50      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| AMAZON.COM INC                                      | AMAZON.COM INC COMMON STOCK USD.01                       | CUSIP: N/A<br>LEI: ZXTILKJKG63JELOEG630       | Long             | EC               | CORP              | US        |    191400 | NS      | $19739082.00   | 5.28%             |  |  |  | No            |                  1 | On Loan: No      |
| ALBERTSONS COS/SAFEWAY                              | ALBERTSONS COS/SAFEWAY COMPANY GUAR 144A 01/27 4.625     | CUSIP: 013092AC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    315000 | PA      | $299735.10     | 0.08%             | 2027-01-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| ALBERTSONS COS/SAFEWAY                              | ALBERTSONS COS/SAFEWAY COMPANY GUAR 144A 03/29 3.5       | CUSIP: 013092AG6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    185000 | PA      | $159684.60     | 0.04%             | 2029-03-15      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| CENTERPOINT ENERGY INC                              | CENTERPOINT ENERGY INC JR SUBORDINA 12/99 VAR            | CUSIP: 15189TAS6<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | DBT              | CORP              | US        |    200000 | PA      | $196800.00     | 0.05%             | 2063-01-31      | Variable      | 6.12%                 | No            |                  2 | On Loan: No      |
| CENTRAL GARDEN & PET CO                             | CENTRAL GARDEN + PET CO COMPANY GUAR 144A 04/31 4.125    | CUSIP: 153527AP1<br>LEI: 5493004DVZLD37DJ0H83 | Long             | DBT              | CORP              | US        |    218000 | PA      | $183152.70     | 0.05%             | 2031-04-30      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| MACY'S RETAIL HLDGS LLC                             | MACY S RETAIL HLDGS LLC COMPANY GUAR 02/43 4.3           | CUSIP: 55616XAJ6<br>LEI: 549300JMONK27O4SQQ19 | Long             | DBT              | CORP              | US        |     90000 | PA      | $55892.70      | 0.01%             | 2043-02-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| MACY'S RETAIL HLDGS LLC                             | MACY S RETAIL HLDGS LLC SR SECURED 144A 07/34 6.7        | CUSIP: 55617LAL6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $169168.00     | 0.05%             | 2034-07-15      | Fixed         | 6.70%                 | Yes           |                  2 | On Loan: No      |
| NECESSITY RETAIL REIT IN                            | NECESSITY RETAIL REIT IN PREFERRED STOCK 7.5             | CUSIP: 02607T406<br>LEI: 549300GN4H0K3IUS8983 | Long             | EC               | CORP              | US        |      5466 | NS      | $130090.80     | 0.03%             | 2049-12-31      | Fixed         | 7.50%                 | No            |                  1 | On Loan: No      |
| ANALOG DEVICES INC                                  | ANALOG DEVICES INC COMMON STOCK USD.167                  | CUSIP: N/A<br>LEI: GYVOE5EZ4GDAVTU4CQ61       | Long             | EC               | CORP              | US        |     45000 | NS      | $7716150.00    | 2.06%             |  |  |  | No            |                  1 | On Loan: No      |
| ALGONQUIN PWR & UTILITY                             | ALGONQUIN PWR + UTILITY JR SUBORDINA 01/82 VAR           | CUSIP: 015857AH8<br>LEI: 549300K5VIUTJXQL7X75 | Long             | DBT              | CORP              | CA        |    910000 | PA      | $767566.80     | 0.21%             | 2082-01-18      | Variable      | 4.75%                 | No            |                  2 | On Loan: No      |
| ATI INC                                             | ATI INC SR UNSECURED 12/27 5.875                         | CUSIP: 01741RAH5<br>LEI: ZW1LRE7C3H17O2ZN9B45 | Long             | DBT              | CORP              | US        |     90000 | PA      | $87446.70      | 0.02%             | 2027-12-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CDK GLOBAL INC.                                     | CDK GLOBAL, INC. 2022 USD TERM LOAN B                    | CUSIP: 15477BAB3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     45000 | PA      | $44964.90      | 0.01%             | 2029-07-06      | Floating      | 9.31%                 | No            |                  2 | On Loan: No      |
| LUMEN TECHNOLOGIES INC                              | LUMEN TECHNOLOGIES INC SR UNSECURED 09/39 7.6            | CUSIP: 156700AM8<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |    280000 | PA      | $189546.00     | 0.05%             | 2039-09-15      | Fixed         | 7.60%                 | No            |                  2 | On Loan: No      |
| MACY'S RETAIL HLDGS LLC                             | MACY S RETAIL HLDGS LLC COMPANY GUAR 144A 03/30 5.875    | CUSIP: 55617LAQ5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    120000 | PA      | $109921.20     | 0.03%             | 2030-03-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| MAGNOLIA OIL GAS/MAG FIN                            | MAGNOLIA OIL GAS/MAG FIN COMPANY GUAR 144A 08/26 6       | CUSIP: 559665AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    186000 | PA      | $180185.64     | 0.05%             | 2026-08-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| CHEMOURS CO                                         | CHEMOURS CO COMPANY GUAR 144A 11/29 4.625                | CUSIP: 163851AH1<br>LEI: 549300M1BOLNXL8DOV14 | Long             | DBT              | CORP              | US        |    145000 | PA      | $121234.50     | 0.03%             | 2029-11-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| CHENIERE ENERGY INC                                 | CHENIERE ENERGY INC SR UNSECURED 10/28 4.625             | CUSIP: 16411RAK5<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | DBT              | CORP              | US        |     96000 | PA      | $91561.92      | 0.02%             | 2028-10-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| MARKEL CORP                                         | MARKEL CORP JR SUBORDINA 12/99 VAR                       | CUSIP: 570535AW4<br>LEI: 549300SCNO12JLWIK605 | Long             | DBT              | CORP              | US        |    670000 | PA      | $667226.20     | 0.18%             | 2063-01-31      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| MASTEC INC                                          | MASTEC INC COMPANY GUAR 144A 08/28 4.5                   | CUSIP: 576323AP4<br>LEI: 549300TMDIT8WREDOF45 | Long             | DBT              | CORP              | US        |     96000 | PA      | $89050.56      | 0.02%             | 2028-08-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| ALLEGIANT TRAVEL CO                                 | ALLEGIANT TRAVEL CO SR SECURED 144A 08/27 7.25           | CUSIP: 01748XAD4<br>LEI: 549300JM9OZXOHWL2K18 | Long             | DBT              | CORP              | US        |    220000 | PA      | $215967.40     | 0.06%             | 2027-08-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| ALLIANT HOLD / CO-ISSUER                            | ALLIANT HOLD / CO ISSUER SR UNSECURED 144A 10/27 6.75    | CUSIP: 01883LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    875000 | PA      | $820041.25     | 0.22%             | 2027-10-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| MULTIPLAN CORP                                      | MULTIPLAN CORP SR UNSECURED 144A 10/27 6                 | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | US        |     95000 | PA      | $62163.25      | 0.02%             | 2027-10-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| CINC BELL TEL                                       | CINC BELL TEL SR SECURED 12/28 6.3                       | CUSIP: 171875AD9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    136000 | PA      | $122514.24     | 0.03%             | 2028-12-01      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| ALLIANT HOLD / CO-ISSUER                            | ALLIANT HOLD / CO ISSUER SR SECURED 144A 10/27 4.25      | CUSIP: 01883LAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $45916.00      | 0.01%             | 2027-10-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| ALLIANT HOLD / CO-ISSUER                            | ALLIANT HOLD / CO ISSUER SR UNSECURED 144A 11/29 5.875   | CUSIP: 01883LAD5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     45000 | PA      | $39265.20      | 0.01%             | 2029-11-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| MCLAREN FINANCE PLC                                 | MCLAREN FINANCE PLC SR SECURED 144A 08/26 7.5            | CUSIP: 58175LAA8<br>LEI: 213800BKPDWMWX3GSG36 | Long             | DBT              | CORP              | GB        |    225000 | PA      | $170424.00     | 0.05%             | 2026-08-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| MERCER INTL INC                                     | MERCER INTL INC SR UNSECURED 02/29 5.125                 | CUSIP: 588056BB6<br>LEI: 549300Z5IAG39VRTY874 | Long             | DBT              | CORP              | US        |    201000 | PA      | $172180.62     | 0.05%             | 2029-02-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                       | CITIGROUP INC JR SUBORDINA 12/99 VAR                     | CUSIP: 172967MU2<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    445000 | PA      | $415759.05     | 0.11%             | 2063-01-31      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                       | CITIGROUP INC JR SUBORDINA 12/99 VAR                     | CUSIP: 172967MV0<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   1141000 | PA      | $1044186.15    | 0.28%             | 2063-01-31      | Variable      | 3.88%                 | No            |                  2 | On Loan: No      |
| AVOLON HOLDINGS FNDG LTD                            | AVOLON HOLDINGS FNDG LTD COMPANY GUAR 144A 07/24 3.95    | CUSIP: 05401AAF8<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |    100000 | PA      | $97050.00      | 0.03%             | 2024-07-01      | Fixed         | 3.95%                 | Yes           |                  2 | On Loan: No      |
| BAUSCH HEALTH COS INC                               | BAUSCH HEALTH COS INC SR SECURED 144A 02/27 6.125        | CUSIP: 071734AP2<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |     72000 | PA      | $49181.76      | 0.01%             | 2027-02-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| BAUSCH HEALTH COS INC                               | BAUSCH HEALTH COS INC SECURED 144A 10/30 14              | CUSIP: 071734AR8<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |     62000 | PA      | $40043.94      | 0.01%             | 2030-10-15      | Fixed         | 14.00%                | Yes           |                  2 | On Loan: No      |
| BEASLEY MEZ HLDGS LLC                               | BEASLEY MEZ HLDGS LLC SR SECURED 144A 02/26 8.625        | CUSIP: 07403VAA7<br>LEI: 549300VK8LJV1TK18D38 | Long             | DBT              | CORP              | US        |    144000 | PA      | $94176.00      | 0.03%             | 2026-02-01      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| METLIFE INC                                         | METLIFE INC JR SUBORDINA 12/66 6.4                       | CUSIP: 59156RAP3<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | DBT              | CORP              | US        |   1205000 | PA      | $1235390.10    | 0.33%             | 2036-12-15      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| METLIFE INC                                         | METLIFE INC JR SUBORDINA 12/99 VAR                       | CUSIP: 59156RCA4<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | DBT              | CORP              | US        |    605000 | PA      | $578029.10     | 0.15%             | 2063-01-31      | Variable      | 3.85%                 | No            |                  2 | On Loan: No      |
| BROOKFIELD PPTY REIT INC                            | BROOKFIELD PPTY REIT INC SR SECURED 144A 05/26 5.75      | CUSIP: 11284DAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    231000 | PA      | $217911.54     | 0.06%             | 2026-05-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| BROOKFIELD PPTY REIT INC                            | BROOKFIELD PPTY REIT INC SR SECURED 144A 04/27 4.5       | CUSIP: 11284DAC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    385000 | PA      | $339981.95     | 0.09%             | 2027-04-01      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| CITIGROUP INC                                       | CITIGROUP INC JR SUBORDINA 12/99 VAR                     | CUSIP: 172967NB3<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   1454000 | PA      | $1301199.14    | 0.35%             | 2063-01-31      | Variable      | 4.15%                 | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HOLDINGS INC.                 | CLEAR CHANNEL OUTDOOR HLDNGS I TERM LOAN B               | CUSIP: 18452RAD7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    483750 | PA      | $461376.56     | 0.12%             | 2026-08-21      | Floating      | 8.27%                 | No            |                  2 | On Loan: No      |
| LD HOLDINGS GROUP LLC                               | LD HOLDINGS GROUP LLC COMPANY GUAR 144A 04/28 6.125      | CUSIP: 521088AC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    265000 | PA      | $173076.80     | 0.05%             | 2028-04-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                               | LEVEL 3 FINANCING INC SR SECURED 144A 11/29 3.875        | CUSIP: 527298BQ5<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    298000 | PA      | $241862.76     | 0.06%             | 2029-11-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| ANNALY CAPITAL MGMT                                 | ANNALY CAPITAL MGMT PREFERRED STOCK VAR                  | CUSIP: N/A<br>LEI: 2DTL0G3FPRYUT58TI025       | Long             | EP               | CORP              | US        |     15560 | NS      | $386666.00     | 0.10%             | 2063-11-30      | Variable      | 9.97%                 | No            |                  1 | On Loan: No      |
| APPLE INC                                           | APPLE INC COMMON STOCK USD.00001                         | CUSIP: N/A<br>LEI: HWUPKR0MPOU8FGXBT394       | Short            | EC               | CORP              | US        |    -44000 | NS      | $-6348760.00   | -1.70%            |  |  |  | No            |                  1 | On Loan: No      |
| MIDAS OPCO HOLDINGS LLC                             | MIDAS OPCO HOLDINGS LLC COMPANY GUAR 144A 08/29 5.625    | CUSIP: 59565JAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    165000 | PA      | $144794.10     | 0.04%             | 2029-08-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| MIDWEST GMNG BOR/MWG FIN                            | MIDWEST GMNG BOR/MWG FIN SR SECURED 144A 05/29 4.875     | CUSIP: 59833DAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    242000 | PA      | $214278.90     | 0.06%             | 2029-05-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| BOOZ ALLEN HAMILTON INC                             | BOOZ ALLEN HAMILTON INC COMPANY GUAR 144A 07/29 4        | CUSIP: 09951LAB9<br>LEI: 549300D7XCH2480XU542 | Long             | DBT              | CORP              | US        |     96000 | PA      | $86317.44      | 0.02%             | 2029-07-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| CDI ESCROW ISSUER INC SR UNSECURED 144A 04/30 5.75  | CDI ESCROW ISSUER INC SR UNSECURED 144A 04/30 5.75       | CUSIP: 12511VAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     96000 | PA      | $91098.24      | 0.02%             | 2030-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CLEARWATER PAPER CORP                               | CLEARWATER PAPER CORP COMPANY GUAR 144A 08/28 4.75       | CUSIP: 18538RAJ2<br>LEI: 549300HCVV19GXN4P292 | Long             | DBT              | CORP              | US        |    300000 | PA      | $268512.00     | 0.07%             | 2028-08-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| COMMERCIAL METALS CO                                | COMMERCIAL METALS CO SR UNSECURED 01/30 4.125            | CUSIP: 201723AQ6<br>LEI: 549300OQS2LO07ZJ7N73 | Long             | DBT              | CORP              | US        |     96000 | PA      | $86217.60      | 0.02%             | 2030-01-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| MILEAGE PLUS HOLDINGS LLC                           | MILEAGE PLUS HOLDINGS LLC 2020 TERM LOAN B               | CUSIP: 59921PAB2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    166500 | PA      | $173878.45     | 0.05%             | 2027-06-20      | Floating      | 10.10%                | No            |                  2 | On Loan: No      |
| MOOG INC                                            | MOOG INC COMPANY GUAR 144A 12/27 4.25                    | CUSIP: 615394AM5<br>LEI: 549300WM2I4U7OBAHG07 | Long             | DBT              | CORP              | US        |    107000 | PA      | $99332.38      | 0.03%             | 2027-12-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                            | CHS/COMMUNITY HEALTH SYS SECURED 144A 04/29 6.875        | CUSIP: 12543DBJ8<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |    108000 | PA      | $68407.20      | 0.02%             | 2029-04-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                            | CHS/COMMUNITY HEALTH SYS SECURED 144A 04/30 6.125        | CUSIP: 12543DBL3<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |    377000 | PA      | $229057.66     | 0.06%             | 2030-04-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| B RILEY FINANCIAL INC                               | B RILEY FINANCIAL INC PREFERRED STOCK 08/28 5.25         | CUSIP: 05580M819<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     17761 | NS      | $377243.64     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| B RILEY FINANCIAL INC                               | B RILEY FINANCIAL INC PREFERRED STOCK                    | CUSIP: 05580M835<br>LEI: N/A                  | Long             | EP               | CORP              | US        |      7686 | NS      | $170168.04     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| CAESARS ENTERTAINMENT CORP                          | CAESARS ENTERTAINMENT CORP TERM LOAN B                   | CUSIP: 12768EAG1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     90000 | PA      | $90032.40      | 0.02%             | 2030-01-25      | Floating      | 8.06%                 | No            |                  2 | On Loan: No      |
| FLY LEASING LTD                                     | FLY LEASING LTD SR UNSECURED 144A 10/24 7                | CUSIP: 14308CAA1<br>LEI: 549300LI58A0MHGHTZ98 | Long             | DBT              | CORP              | BM        |    135000 | PA      | $117729.45     | 0.03%             | 2024-10-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| BANK OZK                                            | BANK OZK PREFERRED STOCK 4.625                           | CUSIP: 06417N202<br>LEI: 549300VYK2WBD7SST478 | Long             | EP               | CORP              | US        |      3850 | NS      | $72187.50      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| BOOKING HOLDINGS INC                                | BOOKING HOLDINGS INC COMMON STOCK USD.008                | CUSIP: 09857L108<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | EC               | CORP              | US        |      5100 | NS      | $12413910.00   | 3.32%             |  |  |  | No            |                  1 | On Loan: No      |
| CARNIVAL CORP                                       | CARNIVAL CORP SECURED 144A 02/26 10.5                    | CUSIP: 143658BG6<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |     98000 | PA      | $102613.84     | 0.03%             | 2026-02-01      | Fixed         | 10.50%                | Yes           |                  2 | On Loan: No      |
| CARNIVAL CORP                                       | CARNIVAL CORP SR UNSECURED 144A 03/26 7.625              | CUSIP: 143658BL5<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |     48000 | PA      | $43731.84      | 0.01%             | 2026-03-01      | Fixed         | 7.62%                 | Yes           |                  2 | On Loan: No      |
| COMMERCIAL METALS CO                                | COMMERCIAL METALS CO SR UNSECURED 03/32 4.375            | CUSIP: 201723AR4<br>LEI: 549300OQS2LO07ZJ7N73 | Long             | DBT              | CORP              | US        |     48000 | PA      | $42508.80      | 0.01%             | 2032-03-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| DCP MIDSTREAM OPERATING                             | DCP MIDSTREAM OPERATING COMPANY GUAR 144A 05/43 VAR      | CUSIP: 23311RAH9<br>LEI: VQOHU6HCVU6YY1KUKU03 | Long             | DBT              | CORP              | US        |    350000 | PA      | $346682.00     | 0.09%             | 2043-05-21      | Variable      | 5.85%                 | Yes           |                  2 | On Loan: No      |
| MEDLINE BORROWER LP                                 | MEDLINE BORROWER LP SR SECURED 144A 04/29 3.875          | CUSIP: 62482BAA0<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |    230000 | PA      | $196999.60     | 0.05%             | 2029-04-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| MEDLINE BORROWER LP                                 | MEDLINE BORROWER LP SR UNSECURED 144A 10/29 5.25         | CUSIP: 62482BAB8<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |    233000 | PA      | $195834.17     | 0.05%             | 2029-10-01      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: —       |
| BOSTON SCIENTIFIC CORP                              | BOSTON SCIENTIFIC CORP COMMON STOCK USD.01               | CUSIP: 101137107<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Long             | EC               | CORP              | US        |    175000 | NS      | $8093750.00    | 2.17%             |  |  |  | No            |                  1 | On Loan: —       |
| CNO FINANCIAL GROUP INC                             | CNO FINANCIAL GROUP INC PREFERRED STOCK 11/60 5.125      | CUSIP: N/A<br>LEI: 11XPYHB76MPM4Y4P2897       | Long             | EP               | CORP              | US        |     27375 | NS      | $497677.50     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| CARPENTER TECHNOLOGY                                | CARPENTER TECHNOLOGY SR UNSECURED 03/30 7.625            | CUSIP: 144285AM5<br>LEI: DX6I6ZD3X5WNNCDJKP85 | Long             | DBT              | CORP              | US        |     46000 | PA      | $47267.30      | 0.01%             | 2030-03-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| CLYDESDALE ACQUISITION HOLDINGS INC                 | CLYDESDALE ACQ HOLDINGS INC. TERM LOAN B                 | CUSIP: 18972FAC6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     99500 | PA      | $97911.98      | 0.03%             | 2029-04-13      | Floating      | 9.87%                 | No            |                  2 | On Loan: No      |
| DT MIDSTREAM INC                                    | DT MIDSTREAM INC COMPANY GUAR 144A 06/29 4.125           | CUSIP: 23345MAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $132472.50     | 0.04%             | 2029-06-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| DANA INC                                            | DANA INC SR UNSECURED 09/30 4.25                         | CUSIP: 235825AH9<br>LEI: KVWHW7YLZPFJM8QYNJ51 | Long             | DBT              | CORP              | US        |    155000 | PA      | $131884.85     | 0.04%             | 2030-09-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| MUNICH RE                                           | MUNICH RE SUBORDINATED 144A 05/42 VAR                    | CUSIP: 62582PAA8<br>LEI: 529900MUF4C20K50JS49 | Long             | DBT              | CORP              | DE        |    400000 | PA      | $409496.00     | 0.11%             | 2042-05-23      | Variable      | 5.88%                 | Yes           |                  2 | On Loan: No      |
| NCR CORP                                            | NCR CORP COMPANY GUAR 144A 04/29 5.125                   | CUSIP: 62886EBA5<br>LEI: 549300YKTY8JX1DV2R67 | Long             | DBT              | CORP              | US        |     96000 | PA      | $83616.96      | 0.02%             | 2029-04-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| CSX CORP                                            | CSX CORP COMMON STOCK USD1.0                             | CUSIP: 126408103<br>LEI: 549300JVQR4N1MMP3Q88 | Long             | EC               | CORP              | US        |    384000 | NS      | $11873280.00   | 3.18%             |  |  |  | No            |                  1 | On Loan: —       |
| CAESARS ENTERTAINMENT INC                           | CAESARS ENTERTAINMENT INC COMMON STOCK                   | CUSIP: 12769G100<br>LEI: 549300FA4CTCW903Y781 | Long             | EC               | CORP              | US        |    189000 | NS      | $9839340.00    | 2.63%             |  |  |  | No            |                  1 | On Loan: No      |
| CREDIT ACCEPTANC                                    | CREDIT ACCEPTANC COMPANY GUAR 144A 12/24 5.125           | CUSIP: 225310AN1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    161000 | PA      | $151541.25     | 0.04%             | 2024-12-31      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| CREDIT SUISSE GROUP AG                              | CREDIT SUISSE GROUP AG JR SUBORDINA 144A 12/49 VAR       | CUSIP: 22546DAB2<br>LEI: 549300506SI9CRFV9Z86 | Long             | DBT              | CORP              | CH        |    565000 | PA      | $535574.80     | 0.14%             | 2063-06-11      | Variable      | 7.50%                 | Yes           |                  2 | On Loan: No      |
| DANA INC                                            | DANA INC SR UNSECURED 02/32 4.5                          | CUSIP: 235825AJ5<br>LEI: KVWHW7YLZPFJM8QYNJ51 | Long             | DBT              | CORP              | US        |     95000 | PA      | $80168.60      | 0.02%             | 2032-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| DAVITA INC                                          | DAVITA INC COMPANY GUAR 144A 06/30 4.625                 | CUSIP: 23918KAS7<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |    372000 | PA      | $313640.64     | 0.08%             | 2030-06-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| NABORS INDUSTRIES INC                               | NABORS INDUSTRIES INC COMPANY GUAR 144A 05/27 7.375      | CUSIP: 62957HAJ4<br>LEI: 549300VFQWRKICUFNU92 | Long             | DBT              | CORP              | US        |     90000 | PA      | $90188.10      | 0.02%             | 2027-05-15      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| NATIONWIDE FINANCIAL SER                            | NATIONWIDE FINANCIAL SER JR SUBORDINA 05/87 6.75         | CUSIP: 638612AJ0<br>LEI: 5493001H7AZNDS6BKJ36 | Long             | DBT              | CORP              | US        |    380000 | PA      | $379015.80     | 0.10%             | 2037-05-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                            | CAPITAL ONE FINANCIAL CO PREFERRED STOCK 4.8             | CUSIP: 14040H782<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | EP               | CORP              | US        |      3675 | NS      | $76440.00      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| CHESAPEAKE ENERGY CORP                              | CHESAPEAKE ENERGY CORP COMMON STOCK USD.01               | CUSIP: 165167735<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | EC               | CORP              | US        |       560 | NS      | $48563.20      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| DAVITA INC                                          | DAVITA INC COMPANY GUAR 144A 02/31 3.75                  | CUSIP: 23918KAT5<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |    222000 | PA      | $172860.30     | 0.05%             | 2031-02-15      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| ROCKCLIFF ENERGY II LLC                             | ROCKCLIFF ENERGY II LLC SR UNSECURED 144A 10/29 5.5      | CUSIP: 77289KAA3<br>LEI: 5493007AZNVKZ5HEMT23 | Long             | DBT              | CORP              | US        |    175000 | PA      | $166850.25     | 0.04%             | 2029-10-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| SCRIPPS ESCROW II INC SR SECURED 144A 01/29 3.875   | SCRIPPS ESCROW II INC SR SECURED 144A 01/29 3.875        | CUSIP: 81105DAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     95000 | PA      | $79841.80      | 0.02%             | 2029-01-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| SCRIPPS ESCROW II INC SR UNSECURED 144A 01/31 5.375 | SCRIPPS ESCROW II INC SR UNSECURED 144A 01/31 5.375      | CUSIP: 81105DAB1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     48000 | PA      | $38765.28      | 0.01%             | 2031-01-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| NATIONSTAR MTG HLD INC                              | NATIONSTAR MTG HLD INC COMPANY GUAR 144A 08/28 5.5       | CUSIP: 63861CAC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    255000 | PA      | $223063.80     | 0.06%             | 2028-08-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| NEW FORTRESS ENERGY INC                             | NEW FORTRESS ENERGY INC SR SECURED 144A 09/25 6.75       | CUSIP: 644393AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    180000 | PA      | $172902.60     | 0.05%             | 2025-09-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| ROCKETMTGE CO-ISSUER INC                            | ROCKETMTGE CO ISSUER INC COMPANY GUAR 144A 10/26 2.875   | CUSIP: 77313LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     45000 | PA      | $40185.00      | 0.01%             | 2026-10-15      | Fixed         | 2.88%                 | Yes           |                  2 | On Loan: No      |
| ROGERS COMMUNICATIONS IN                            | ROGERS COMMUNICATIONS IN SUBORDINATED 144A 03/82 VAR     | CUSIP: 775109BS9<br>LEI: 54930030NVF3Y2OL0A78 | Long             | DBT              | CORP              | CA        |    595000 | PA      | $539688.80     | 0.14%             | 2082-03-15      | Variable      | 5.25%                 | Yes           |                  2 | On Loan: No      |
| SVB FINANCIAL GROUP                                 | SVB FINANCIAL GROUP JR SUBORDINA 12/99 VAR               | CUSIP: 78486QAG6<br>LEI: 549300D2KJ20JMXE7542 | Long             | DBT              | CORP              | US        |    651000 | PA      | $486453.24     | 0.13%             | 2063-01-31      | Variable      | 4.10%                 | No            |                  2 | On Loan: No      |
| SVB FINANCIAL GROUP                                 | SVB FINANCIAL GROUP JR SUBORDINA 12/99 VAR               | CUSIP: 78486QAJ0<br>LEI: 549300D2KJ20JMXE7542 | Long             | DBT              | CORP              | US        |    918000 | PA      | $738420.84     | 0.20%             | 2063-01-31      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW FORTRESS ENERGY INC                             | NEW FORTRESS ENERGY INC SR SECURED 144A 09/26 6.5        | CUSIP: 644393AB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     96000 | PA      | $88723.20      | 0.02%             | 2026-09-30      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| NEWELL BRANDS INC                                   | NEWELL BRANDS INC SR UNSECURED 09/27 6.375               | CUSIP: 651229BC9<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |     45000 | PA      | $45297.90      | 0.01%             | 2027-09-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| SVB FINANCIAL GROUP                                 | SVB FINANCIAL GROUP JR SUBORDINA 12/99 VAR               | CUSIP: 78486QAP6<br>LEI: 549300D2KJ20JMXE7542 | Long             | DBT              | CORP              | US        |    367000 | PA      | $293886.26     | 0.08%             | 2063-01-31      | Variable      | 4.25%                 | No            |                  2 | On Loan: No      |
| CHARLES SCHWAB CORP                                 | CHARLES SCHWAB CORP JR SUBORDINA 12/99 VAR               | CUSIP: 808513BD6<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |    400000 | PA      | $398704.00     | 0.11%             | 2063-01-31      | Variable      | 5.38%                 | No            |                  2 | On Loan: —       |
| SEALED AIR CORP                                     | SEALED AIR CORP COMPANY GUAR 144A 04/29 5                | CUSIP: 81211KBA7<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | DBT              | CORP              | US        |     48000 | PA      | $45562.56      | 0.01%             | 2029-04-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| SEALED AIR CORP                                     | SEALED AIR CORP SR UNSECURED 144A 02/28 6.125            | CUSIP: 812127AA6<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | DBT              | CORP              | US        |    144000 | PA      | $145396.80     | 0.04%             | 2028-02-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| COSTCO WHOLESALE CORP                               | COSTCO WHOLESALE CORP COMMON STOCK USD.005               | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Short            | EC               | CORP              | US        |     -6600 | NS      | $-3373524.00   | -0.90%            |  |  |  | No            |                  1 | On Loan: No      |
| CULLEN/FROST BANKERS INC                            | CULLEN/FROST BANKERS INC PREFERRED STOCK 4.45            | CUSIP: 229899307<br>LEI: 529900V2E9G9AY665O34 | Long             | EP               | CORP              | US        |      4608 | NS      | $92344.32      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| CHARLES SCHWAB CORP                                 | CHARLES SCHWAB CORP JR SUBORDINA 12/99 VAR               | CUSIP: 808513BJ3<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |    433000 | PA      | $372804.34     | 0.10%             | 2063-01-31      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| CHARLES SCHWAB CORP                                 | CHARLES SCHWAB CORP JR SUBORDINA 12/99 VAR               | CUSIP: 808513BK0<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |    895000 | PA      | $825216.85     | 0.22%             | 2063-01-31      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| SEMPRA ENERGY                                       | SEMPRA ENERGY JR SUBORDINA 04/52 VAR                     | CUSIP: 816851BM0<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |    240000 | PA      | $208795.20     | 0.06%             | 2052-04-01      | Variable      | 4.12%                 | No            |                  2 | On Loan: No      |
| SIMMONS FOOD INC/SIMMONS                            | SIMMONS FOOD INC/SIMMONS SECURED 144A 03/29 4.625        | CUSIP: 82873MAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    270000 | PA      | $229338.00     | 0.06%             | 2029-03-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                               | LEVEL 3 FINANCING INC COMPANY GUAR 144A 07/28 4.25       | CUSIP: 527298BR3<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    200000 | PA      | $158668.00     | 0.04%             | 2028-07-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| LIBERTY INTERACTIVE LLC                             | LIBERTY INTERACTIVE LLC SR UNSECURED 02/30 8.25          | CUSIP: 530715AJ0<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |    190000 | PA      | $89731.30      | 0.02%             | 2030-02-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| SCIENTIFIC GAMES INTERNATIONAL INC.                 | SCIENTIFIC GAMES INTL INC 2022 USD TERM LOAN             | CUSIP: N/A<br>LEI: RLTHESQ0RNFQJWPBJN60       | Long             | LON              | CORP              | US        |    199000 | PA      | $199070.65     | 0.05%             | 2029-04-14      | Floating      | 8.66%                 | No            |                  2 | On Loan: No      |
| SCRIPPS ESCROW INC COMPANY GUAR 144A 07/27 5.875    | SCRIPPS ESCROW INC COMPANY GUAR 144A 07/27 5.875         | CUSIP: 81104PAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    195000 | PA      | $174304.65     | 0.05%             | 2027-07-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| SINCLAIR TELEVISION GROU                            | SINCLAIR TELEVISION GROU COMPANY GUAR 144A 03/30 5.5     | CUSIP: 829259AY6<br>LEI: 549300CQGEN0CH65UD62 | Long             | DBT              | CORP              | US        |    100000 | PA      | $79868.00      | 0.02%             | 2030-03-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: —       |
| SINCLAIR TELEVISION GROU                            | SINCLAIR TELEVISION GROU SR SECURED 144A 12/30 4.125     | CUSIP: 829259BA7<br>LEI: 549300CQGEN0CH65UD62 | Long             | DBT              | CORP              | US        |    141000 | PA      | $112255.74     | 0.03%             | 2030-12-01      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| NEWELL BRANDS INC                                   | NEWELL BRANDS INC SR UNSECURED 09/29 6.625               | CUSIP: 651229BD7<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |     23000 | PA      | $23340.86      | 0.01%             | 2029-09-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: —       |
| NEXSTAR BROADCASTING INC.                           | NEXSTAR BROADCASTING INC 2019 TERM LOAN B4               | CUSIP: 65336RAW8<br>LEI: 5493006PK6I4I2OOT688 | Long             | LON              | CORP              | US        |     73805 | PA      | $73927.46      | 0.02%             | 2026-09-18      | Floating      | 7.85%                 | No            |                  1 | On Loan: No      |
| ASSUREDPARTNERS INC                                 | ASSUREDPARTNERS INC SR UNSECURED 144A 08/25 7            | CUSIP: 04624VAA7<br>LEI: 549300HNDSDQWQ3L2P80 | Long             | DBT              | CORP              | US        |    175000 | PA      | $172966.50     | 0.05%             | 2025-08-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| DELTA AIR LINES INC                                 | DELTA AIR LINES INC SR UNSECURED 01/26 7.375             | CUSIP: 247361ZZ4<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | DBT              | CORP              | US        |     47000 | PA      | $49221.22      | 0.01%             | 2026-01-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| DELTA AIR LINES/SKYMILES                            | DELTA AIR LINES/SKYMILES SR SECURED 144A 10/28 4.75      | CUSIP: 830867AB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     48000 | PA      | $46705.92      | 0.01%             | 2028-10-20      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| TAYLOR MORRISON COMM                                | TAYLOR MORRISON COMM COMPANY GUAR 144A 01/28 5.75        | CUSIP: 87724RAB8<br>LEI: 549300O1Z08HI2MRK572 | Long             | DBT              | CORP              | US        |    212000 | PA      | $205892.28     | 0.06%             | 2028-01-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| SIRIUS XM RADIO INC                                 | SIRIUS XM RADIO INC COMPANY GUAR 144A 07/28 4            | CUSIP: 82967NBJ6<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |    140000 | PA      | $124640.60     | 0.03%             | 2028-07-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| SIRIUS XM RADIO INC                                 | SIRIUS XM RADIO INC COMPANY GUAR 144A 09/26 3.125        | CUSIP: 82967NBL1<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |     90000 | PA      | $81236.70      | 0.02%             | 2026-09-01      | Fixed         | 3.12%                 | Yes           |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL                              | NEXTERA ENERGY CAPITAL COMPANY GUAR 03/82 VAR            | CUSIP: 65339KCB4<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |    770000 | PA      | $672117.60     | 0.18%             | 2082-03-15      | Variable      | 3.80%                 | No            |                  2 | On Loan: No      |
| NORDEA BANK ABP                                     | NORDEA BANK ABP JR SUBORDINA 144A 12/99 VAR              | CUSIP: 65559CAA9<br>LEI: 529900ODI3047E2LIV03 | Long             | DBT              | CORP              | FI        |    580000 | PA      | $575151.20     | 0.15%             | 2063-01-31      | Variable      | 6.62%                 | Yes           |                  2 | On Loan: No      |
| TEAM HEALTH HOLDINGS INC.                           | TEAM HEALTH HOLDINGS, INC. 2022 TERM LOAN B              | CUSIP: 87817JAG3<br>LEI: 549300PVTQ4UDTTMQT11 | Long             | LON              | CORP              | US        |    820573 | PA      | $684152.43     | 0.18%             | 2027-02-02      | Floating      | 10.60%                | No            |                  2 | On Loan: No      |
| TELESAT CANADA/TELESAT L                            | TELESAT CANADA/TELESAT L SR SECURED 144A 06/27 4.875     | CUSIP: 87952VAP1<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    190000 | PA      | $87443.70      | 0.02%             | 2027-06-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| SIRIUS XM RADIO INC                                 | SIRIUS XM RADIO INC COMPANY GUAR 144A 09/31 3.875        | CUSIP: 82967NBM9<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |     48000 | PA      | $39541.44      | 0.01%             | 2031-09-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| SONIC AUTOMOTIVE INC                                | SONIC AUTOMOTIVE INC COMPANY GUAR 144A 11/29 4.625       | CUSIP: 83545GBD3<br>LEI: 549300NTLRGJ2JCBZU03 | Long             | DBT              | CORP              | US        |    212000 | PA      | $176468.80     | 0.05%             | 2029-11-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                               | TENET HEALTHCARE CORP SR UNSECURED 11/31 6.875           | CUSIP: 88033GAV2<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    470000 | PA      | $435666.50     | 0.12%             | 2031-11-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| CMG MEDIA CORPORATION                               | CMG MEDIA CORPORATION 2021 TERM LOAN                     | CUSIP: 88145LAE4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     99746 | PA      | $94872.98      | 0.03%             | 2026-12-17      | Floating      | 8.74%                 | No            |                  2 | On Loan: No      |
| LIBERTY MUTUAL GROUP INC                            | LIBERTY MUTUAL GROUP INC COMPANY GUAR 144A 12/51 VAR     | CUSIP: 53079EBM5<br>LEI: QUR0DG15Z6FFGYCHH861 | Long             | DBT              | CORP              | US        |   1085000 | PA      | $929389.30     | 0.25%             | 2051-12-15      | Variable      | 4.12%                 | Yes           |                  2 | On Loan: No      |
| LIFE TIME INC                                       | LIFE TIME INC SR SECURED 144A 01/26 5.75                 | CUSIP: 53190FAA3<br>LEI: 549300PALKE96VYH4X17 | Long             | DBT              | CORP              | US        |    100000 | PA      | $96784.00      | 0.03%             | 2026-01-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| TRANSDIGM INC                                       | TRANSDIGM INC COMPANY GUAR 03/27 7.5                     | CUSIP: 893647BH9<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    405000 | PA      | $408458.70     | 0.11%             | 2027-03-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| VIAVI SOLUTIONS INC                                 | VIAVI SOLUTIONS INC COMPANY GUAR 144A 10/29 3.75         | CUSIP: 925550AF2<br>LEI: 5493006K3E3N1QOBF092 | Long             | DBT              | CORP              | US        |    240000 | PA      | $209496.00     | 0.06%             | 2029-10-01      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| SOUTHERN CO                                         | SOUTHERN CO JR SUBORDINA 01/51 VAR                       | CUSIP: 842587DF1<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |    668000 | PA      | $636183.16     | 0.17%             | 2051-01-15      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CO                                         | SOUTHERN CO JR SUBORDINA 09/51 VAR                       | CUSIP: 842587DJ3<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |    280000 | PA      | $245873.60     | 0.07%             | 2051-09-15      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| TRANSOCEAN INC                                      | TRANSOCEAN INC SR SECURED 144A 02/30 8.75                | CUSIP: 893830BX6<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | KY        |     92000 | PA      | $95066.36      | 0.03%             | 2030-02-15      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| TRINSEO OP / TRINSEO FIN                            | TRINSEO OP / TRINSEO FIN COMPANY GUAR 144A 04/29 5.125   | CUSIP: 89668QAF5<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |     96000 | PA      | $69452.16      | 0.02%             | 2029-04-01      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| NORDEA BANK ABP                                     | NORDEA BANK ABP JR SUBORDINA 144A 12/99 VAR              | CUSIP: 65559CAD3<br>LEI: 529900ODI3047E2LIV03 | Long             | DBT              | CORP              | FI        |    900000 | PA      | $715968.00     | 0.19%             | 2063-01-31      | Variable      | 3.75%                 | Yes           |                  2 | On Loan: No      |
| NORDSTROM INC                                       | NORDSTROM INC SR UNSECURED 01/44 5                       | CUSIP: 655664AR1<br>LEI: 549300S3IZB5P35KNV16 | Long             | DBT              | CORP              | US        |     90000 | PA      | $60654.60      | 0.02%             | 2044-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIKING CRUISES LTD                                  | VIKING CRUISES LTD SR SECURED 144A 05/25 13              | CUSIP: 92676XAE7<br>LEI: 549300IJP90T4MV2GL84 | Long             | DBT              | CORP              | BM        |     50000 | PA      | $53066.50      | 0.01%             | 2025-05-15      | Fixed         | 13.00%                | Yes           |                  2 | On Loan: No      |
| WESCO DISTRIBUTION INC                              | WESCO DISTRIBUTION INC COMPANY GUAR 144A 06/28 7.25      | CUSIP: 95081QAP9<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |     45000 | PA      | $46316.25      | 0.01%             | 2028-06-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| TKC HOLDINGS INC.                                   | TKC HOLDINGS INC 2021 TERM LOAN                          | CUSIP: 87256FAH7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    126343 | PA      | $106075.46     | 0.03%             | 2028-05-14      | Floating      | 10.23%                | No            |                  2 | On Loan: No      |
| TIME WARNER CABLE LLC                               | TIME WARNER CABLE LLC SR SECURED 07/38 7.3               | CUSIP: 88732JAN8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     70000 | PA      | $75278.70      | 0.02%             | 2038-07-01      | Fixed         | 7.30%                 | No            |                  2 | On Loan: No      |
| TRONOX INC                                          | TRONOX INC COMPANY GUAR 144A 03/29 4.625                 | CUSIP: 897051AC2<br>LEI: 549300EPZ4YXC7E5P181 | Long             | DBT              | CORP              | US        |    141000 | PA      | $120763.68     | 0.03%             | 2029-03-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| TRUIST FINANCIAL CORP                               | TRUIST FINANCIAL CORP JR SUBORDINA 12/99 VAR             | CUSIP: 89832QAD1<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |    835000 | PA      | $805282.35     | 0.22%             | 2063-01-31      | Variable      | 4.80%                 | No            |                  2 | On Loan: No      |
| CUMULUS MEDIA INC                                   | CUMULUS MEDIA INC CL A COMMON STOCK USD.01               | CUSIP: 231082801<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1322 | NS      | $8857.40       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| DANAHER CORP                                        | DANAHER CORP COMMON STOCK USD.01                         | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |     12000 | NS      | $3172560.00    | 0.85%             |  |  |  | No            |                  1 | On Loan: —       |
| TORONTO-DOMINION BANK                               | TORONTO DOMINION BANK JR SUBORDINA 10/82 VAR             | CUSIP: 89117F8Z5<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   1075000 | PA      | $1141424.25    | 0.31%             | 2082-10-31      | Variable      | 8.12%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                       | TRANSDIGM INC SR SECURED 144A 03/26 6.25                 | CUSIP: 893647BE6<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    473000 | PA      | $473307.45     | 0.13%             | 2026-03-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| EMPIRE RESORTS INC                                  | EMPIRE RESORTS INC SR SECURED 144A 11/26 7.75            | CUSIP: 292052AF4<br>LEI: 549300WBFN23L9HI5N68 | Long             | DBT              | CORP              | US        |    200000 | PA      | $164094.00     | 0.04%             | 2026-11-01      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| ENBRIDGE INC                                        | ENBRIDGE INC SUBORDINATED 07/80 VAR                      | CUSIP: 29250NBC8<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    620000 | PA      | $589837.00     | 0.16%             | 2080-07-15      | Variable      | 5.75%                 | No            |                  2 | On Loan: No      |
| TRUIST FINANCIAL CORP                               | TRUIST FINANCIAL CORP JR SUBORDINA 12/99 VAR             | CUSIP: 89832QAE9<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |    375000 | PA      | $371782.50     | 0.10%             | 2063-01-31      | Variable      | 4.95%                 | No            |                  2 | On Loan: No      |
| TWILIO INC                                          | TWILIO INC COMPANY GUAR 03/29 3.625                      | CUSIP: 90138FAC6<br>LEI: 5493004W8TRGD63APX93 | Long             | DBT              | CORP              | US        |    130000 | PA      | $110555.90     | 0.03%             | 2029-03-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| PARAMOUNT GLOBAL                                    | PARAMOUNT GLOBAL JR SUBORDINA 03/62 VAR                  | CUSIP: 92556HAE7<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |    490000 | PA      | $426848.80     | 0.11%             | 2062-03-30      | Variable      | 6.38%                 | No            |                  2 | On Loan: No      |
| VISTRA CORP                                         | VISTRA CORP JR SUBORDINA 144A 12/99 VAR                  | CUSIP: 92840MAC6<br>LEI: 549300KP43CPCUJOOG15 | Long             | DBT              | CORP              | US        |    305000 | PA      | $287859.00     | 0.08%             | 2063-01-31      | Variable      | 7.00%                 | Yes           |                  2 | On Loan: No      |
| ENBRIDGE INC                                        | ENBRIDGE INC JR SUBORDINA 01/83 VAR                      | CUSIP: 29250NBN4<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    650000 | PA      | $651046.50     | 0.17%             | 2083-01-15      | Variable      | 7.38%                 | No            |                  2 | On Loan: No      |
| ENCOMPASS HEALTH CORP                               | ENCOMPASS HEALTH CORP COMPANY GUAR 02/28 4.5             | CUSIP: 29261AAA8<br>LEI: 549300FVRPM9DRQZRG64 | Long             | DBT              | CORP              | US        |    100000 | PA      | $93454.00      | 0.03%             | 2028-02-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| UNITED NATURAL FOODS INC                            | UNITED NATURAL FOODS INC COMPANY GUAR 144A 10/28 6.75    | CUSIP: 911163AA1<br>LEI: 549300GKGW6WPZ282D40 | Long             | DBT              | CORP              | US        |    210000 | PA      | $202979.70     | 0.05%             | 2028-10-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| US CELLULAR CORP                                    | US CELLULAR CORP SR UNSECURED 12/33 6.7                  | CUSIP: 911684AD0<br>LEI: 549300B164AZXESI6E03 | Long             | DBT              | CORP              | US        |    320000 | PA      | $297824.00     | 0.08%             | 2033-12-15      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| VODAFONE GROUP PLC                                  | VODAFONE GROUP PLC JR SUBORDINA 04/79 VAR                | CUSIP: 92857WBQ2<br>LEI: 213800TB53ELEUKM7Q61 | Long             | DBT              | CORP              | GB        |    395000 | PA      | $407794.05     | 0.11%             | 2079-04-04      | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| W & T OFFSHORE INC                                  | W + T OFFSHORE INC SECURED 144A 11/23 9.75               | CUSIP: 92922PAL0<br>LEI: 549300Q7EOY2YIO3YK85 | Long             | DBT              | CORP              | US        |    290000 | PA      | $290261.00     | 0.08%             | 2023-11-01      | Fixed         | 9.75%                 | Yes           |                  2 | On Loan: No      |
| WW INTERNATIONAL INC.                               | WW INTERNATIONAL, INC. 2021 TERM LOAN B                  | CUSIP: 92941PAC7<br>LEI: SGT8R1MU6ESIC7UJC518 | Long             | LON              | CORP              | US        |    316575 | PA      | $190207.76     | 0.05%             | 2028-04-13      | Floating      | 9.30%                 | No            |                  2 | On Loan: No      |
| WABASH NATIONAL CORP                                | WABASH NATIONAL CORP COMPANY GUAR 144A 10/28 4.5         | CUSIP: 929566AL1<br>LEI: 5299004ZAWHQZI5XO485 | Long             | DBT              | CORP              | US        |    201000 | PA      | $177213.66     | 0.05%             | 2028-10-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| SEMPRA ENERGY                                       | SEMPRA ENERGY JR SUBORDINA 12/99 VAR                     | CUSIP: 816851BK4<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |    375000 | PA      | $360558.75     | 0.10%             | 2063-01-31      | Variable      | 4.88%                 | No            |                  2 | On Loan: No      |
| SENSATA TECHNOLOGIES INC                            | SENSATA TECHNOLOGIES INC COMPANY GUAR 144A 02/31 3.75    | CUSIP: 81728UAB0<br>LEI: 5493002MMDDCUNV7NY90 | Long             | DBT              | CORP              | US        |     98000 | PA      | $83888.98      | 0.02%             | 2031-02-15      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| UNITED WHOLESALE MTGE LL                            | UNITED WHOLESALE MTGE LL SR UNSECURED 144A 04/29 5.5     | CUSIP: 913229AA8<br>LEI: 549300HW662MN1WU8550 | Long             | DBT              | CORP              | US        |    221000 | PA      | $190360.56     | 0.05%             | 2029-04-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| VZ SECURED FINANCING BV                             | VZ SECURED FINANCING BV SR SECURED 144A 01/32 5          | CUSIP: 91845AAA3<br>LEI: 549300MG611MYCOWY949 | Long             | DBT              | CORP              | NL        |    210000 | PA      | $180072.90     | 0.05%             | 2032-01-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| WASTE PRO USA INC                                   | WASTE PRO USA INC SR UNSECURED 144A 02/26 5.5            | CUSIP: 94107JAA1<br>LEI: 549300BY1QXU5BI3UF28 | Long             | DBT              | CORP              | US        |    325000 | PA      | $302617.25     | 0.08%             | 2026-02-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| ARD FINANCE SA                                      | ARD FINANCE SA SR SECURED 144A 06/27 6.5                 | CUSIP: 00191AAD8<br>LEI: 6354006P6QPGGPVJW880 | Long             | DBT              | CORP              | LU        |    940000 | PA      | $738680.20     | 0.20%             | 2027-06-30      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| AMERICAN AIRLINES/AADVAN                            | AMERICAN AIRLINES/AADVAN SR SECURED 144A 04/26 5.5       | CUSIP: 00253XAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    144000 | PA      | $141336.00     | 0.04%             | 2026-04-20      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| VENTURE GLOBAL CALCASIEU                            | VENTURE GLOBAL CALCASIEU SR SECURED 144A 01/30 6.25      | CUSIP: 92328MAE3<br>LEI: 549300GKHS6RS20NLH85 | Long             | DBT              | CORP              | US        |     10000 | PA      | $10199.10      | 0.00%             | 2030-01-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| VISTRA CORP                                         | VISTRA CORP JR SUBORDINA 144A VAR                        | CUSIP: 92840MAB8<br>LEI: 549300KP43CPCUJOOG15 | Long             | DBT              | CORP              | US        |    375000 | PA      | $367893.75     | 0.10%             | 2063-01-31      | Variable      | 8.00%                 | Yes           |                  2 | On Loan: No      |
| WEATHERFORD INTERNATIONA                            | WEATHERFORD INTERNATIONA SR SECURED 144A 09/28 6.5       | CUSIP: 947075AT4<br>LEI: 549300A2JKMG5PGOGF82 | Long             | DBT              | CORP              | BM        |    201000 | PA      | $200330.67     | 0.05%             | 2028-09-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| SILGAN HOLDINGS INC                                 | SILGAN HOLDINGS INC COMPANY GUAR 02/28 4.125             | CUSIP: 827048AW9<br>LEI: KAF673KJXD92C8KSLU49 | Long             | DBT              | CORP              | US        |     80000 | PA      | $74850.40      | 0.02%             | 2028-02-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| ENCOMPASS HEALTH CORP                               | ENCOMPASS HEALTH CORP COMPANY GUAR 02/30 4.75            | CUSIP: 29261AAB6<br>LEI: 549300FVRPM9DRQZRG64 | Long             | DBT              | CORP              | US        |    100000 | PA      | $91783.00      | 0.02%             | 2030-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ENERGIZER HOLDINGS INC                              | ENERGIZER HOLDINGS INC COMPANY GUAR 144A 03/29 4.375     | CUSIP: 29272WAD1<br>LEI: 5493000D6NN0V57UME20 | Long             | DBT              | CORP              | US        |    263000 | PA      | $228349.75     | 0.06%             | 2029-03-31      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| ENERGIZER HOLDINGS INC                              | ENERGIZER HOLDINGS INC COMPANY GUAR 144A 12/27 6.5       | CUSIP: 29272WAF6<br>LEI: 5493000D6NN0V57UME20 | Long             | DBT              | CORP              | US        |     48000 | PA      | $46924.32      | 0.01%             | 2027-12-31      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| ENLINK MIDSTREAM LLC                                | ENLINK MIDSTREAM LLC COMPANY GUAR 144A 09/30 6.5         | CUSIP: 29336TAD2<br>LEI: 54930000GY1H533OBE23 | Long             | DBT              | CORP              | US        |     90000 | PA      | $91851.30      | 0.02%             | 2030-09-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| ENLINK MIDSTREAM PARTNER                            | ENLINK MIDSTREAM PARTNER SR UNSECURED 07/26 4.85         | CUSIP: 29336UAF4<br>LEI: 88CPW63VL7KHJWS0NY83 | Long             | DBT              | CORP              | US        |    205000 | PA      | $199415.80     | 0.05%             | 2026-07-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| ENLINK MIDSTREAM PARTNER                            | ENLINK MIDSTREAM PARTNER JR SUBORDINA 12/99 VAR          | CUSIP: 29336UAH0<br>LEI: 88CPW63VL7KHJWS0NY83 | Long             | EP               | CORP              | US        |    835000 | PA      | $702928.05     | 0.19%             | 2063-09-21      | Variable      | 8.96%                 | No            |                  2 | On Loan: No      |
| SOUTHWEST AIRLINES CO                               | SOUTHWEST AIRLINES CO COMMON STOCK USD1.0                | CUSIP: 844741108<br>LEI: UDTZ87G0STFETI6HGH41 | Long             | EC               | CORP              | US        |    188000 | NS      | $6724760.00    | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| SPIRIT REALTY CAPITAL IN                            | SPIRIT REALTY CAPITAL IN PREFERRED STOCK 6               | CUSIP: 84860W201<br>LEI: 549300LTU6LVPZSHMJ25 | Long             | EC               | CORP              | US        |      8025 | NS      | $194044.50     | 0.05%             | 2049-12-31      | Fixed         | 6.00%                 | No            |                  1 | On Loan: No      |
| ENSTAR FINANCE LLC                                  | ENSTAR FINANCE LLC COMPANY GUAR 01/42 VAR                | CUSIP: 29360AAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $165828.00     | 0.04%             | 2042-01-15      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| ENTERCOM MEDIA CORP                                 | ENTERCOM MEDIA CORP SECURED 144A 05/27 6.5               | CUSIP: 29365DAA7<br>LEI: 549300S5JUSXRHNCHD80 | Long             | DBT              | CORP              | US        |     91000 | PA      | $15844.01      | 0.00%             | 2027-05-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| ENTERPRISE PRODUCTS OPER                            | ENTERPRISE PRODUCTS OPER COMPANY GUAR 08/77 VAR          | CUSIP: 29379VBM4<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |    185000 | PA      | $175883.20     | 0.05%             | 2077-08-16      | Variable      | 7.63%                 | No            |                  2 | On Loan: No      |
| EVERI HOLDINGS INC                                  | EVERI HOLDINGS INC COMPANY GUAR 144A 07/29 5             | CUSIP: 30034TAA1<br>LEI: 5299006DK5S7BG10K532 | Long             | DBT              | CORP              | US        |    204000 | PA      | $184746.48     | 0.05%             | 2029-07-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| AMERICAN AIRLINES/AADVAN                            | AMERICAN AIRLINES/AADVAN SR SECURED 144A 04/29 5.75      | CUSIP: 00253XAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     48000 | PA      | $46511.04      | 0.01%             | 2029-04-20      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| ABERCROMBIE & FITCH MANA                            | ABERCROMBIE + FITCH MANA SR SECURED 144A 07/25 8.75      | CUSIP: 003000AA4<br>LEI: 5493003QMCFDA98NPT74 | Long             | DBT              | CORP              | US        |    228000 | PA      | $230567.28     | 0.06%             | 2025-07-15      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: —       |
| FAIR ISAAC CORP                                     | FAIR ISAAC CORP SR UNSECURED 144A 06/28 4                | CUSIP: 303250AF1<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | DBT              | CORP              | US        |     56000 | PA      | $52067.12      | 0.01%             | 2028-06-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| FERTITTA ENTERTAINMENT LLC                          | FERTITTA ENTERTAINMENT, LLC 2022 TERM LOAN B             | CUSIP: 31556PAB3<br>LEI: 984500A0805D8V551D35 | Long             | LON              | CORP              | US        |     44662 | PA      | $44219.00      | 0.01%             | 2029-01-27      | Floating      | 8.67%                 | No            |                  2 | On Loan: No      |
| FERTITTA ENTERTAINMENT                              | FERTITTA ENTERTAINMENT SR SECURED 144A 01/29 4.625       | CUSIP: 31556TAA7<br>LEI: 984500A0805D8V551D35 | Long             | DBT              | CORP              | US        |     96000 | PA      | $84793.92      | 0.02%             | 2029-01-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| FERTITTA ENTERTAINMENT                              | FERTITTA ENTERTAINMENT COMPANY GUAR 144A 01/30 6.75      | CUSIP: 31556TAC3<br>LEI: 984500A0805D8V551D35 | Long             | DBT              | CORP              | US        |    185000 | PA      | $153794.20     | 0.04%             | 2030-01-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| FIFTH THIRD BANCORP                                 | FIFTH THIRD BANCORP JR SUBORDINA 12/99 VAR               | CUSIP: 316773DB3<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1454130.00    | 0.39%             | 2063-01-31      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR COMPANY                                  | FORD MOTOR COMPANY SR UNSECURED 08/32 6.1                | CUSIP: 345370DB3<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |    190000 | PA      | $186640.80     | 0.05%             | 2032-08-19      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| LIFE TIME INC                                       | LIFE TIME INC COMPANY GUAR 144A 04/26 8                  | CUSIP: 53190FAC9<br>LEI: 549300PALKE96VYH4X17 | Long             | DBT              | CORP              | US        |    144000 | PA      | $140058.72     | 0.04%             | 2026-04-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: —       |
| LIGADO NETWORKS LLC                                 | LIGADO NETWORKS LLC SR SECURED 144A 11/23 15.5           | CUSIP: 53225HAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    140686 | PA      | $49262.61      | 0.01%             | 2023-11-01      | Fixed         | 15.50%                | Yes           |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                            | FORD MOTOR CREDIT CO LLC SR UNSECURED 11/30 4            | CUSIP: 345397B36<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    300000 | PA      | $262236.00     | 0.07%             | 2030-11-13      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                            | FORD MOTOR CREDIT CO LLC SR UNSECURED 11/27 7.35         | CUSIP: 345397C35<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    350000 | PA      | $367444.00     | 0.10%             | 2027-11-04      | Fixed         | 7.35%                 | No            |                  2 | On Loan: No      |
| NORDSTROM INC                                       | NORDSTROM INC SR UNSECURED 08/31 4.25                    | CUSIP: 655664AY6<br>LEI: 549300S3IZB5P35KNV16 | Long             | DBT              | CORP              | US        |     86000 | PA      | $64759.72      | 0.02%             | 2031-08-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| GEN DIGITAL INC                                     | GEN DIGITAL INC COMPANY GUAR 144A 09/27 6.75             | CUSIP: 668771AK4<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | DBT              | CORP              | US        |     90000 | PA      | $91386.90      | 0.02%             | 2027-09-30      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                            | FORD MOTOR CREDIT CO LLC SR UNSECURED 08/25 4.134        | CUSIP: 345397XL2<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    375000 | PA      | $358657.50     | 0.10%             | 2025-08-04      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| FORESTAR GROUP INC                                  | FORESTAR GROUP INC COMPANY GUAR 144A 03/28 5             | CUSIP: 346232AE1<br>LEI: 549300BC2UB0GHV60V70 | Long             | DBT              | CORP              | US        |    139000 | PA      | $122249.11     | 0.03%             | 2028-03-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| LINDBLAD EXPEDITIONS LLC                            | LINDBLAD EXPEDITIONS LLC SR SECURED 144A 02/27 6.75      | CUSIP: 53523LAA8<br>LEI: 549300MPUWOG67Y2R254 | Long             | DBT              | CORP              | US        |    123000 | PA      | $120612.57     | 0.03%             | 2027-02-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| LLOYDS BANKING GROUP PLC                            | LLOYDS BANKING GROUP PLC JR SUBORDINA 04/49 VAR          | CUSIP: 539439AG4<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |    575000 | PA      | $571193.50     | 0.15%             | 2063-01-31      | Variable      | 7.50%                 | No            |                  2 | On Loan: No      |
| FORESTAR GROUP INC                                  | FORESTAR GROUP INC COMPANY GUAR 144A 05/26 3.85          | CUSIP: 346232AF8<br>LEI: 549300BC2UB0GHV60V70 | Long             | DBT              | CORP              | US        |     97000 | PA      | $87042.95      | 0.02%             | 2026-05-15      | Fixed         | 3.85%                 | Yes           |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                             | FRONTIER COMMUNICATIONS SR SECURED 144A 05/28 5          | CUSIP: 35906ABF4<br>LEI: 549300ZCZ76HYCS0H445 | Long             | DBT              | CORP              | US        |    123000 | PA      | $111725.82     | 0.03%             | 2028-05-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| M/I HOMES INC                                       | M/I HOMES INC COMPANY GUAR 02/30 3.95                    | CUSIP: 55305BAV3<br>LEI: 5299005M71FH9CCSFB69 | Long             | DBT              | CORP              | US        |    125000 | PA      | $105310.00     | 0.03%             | 2030-02-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| MPH ACQUISITION HOLDINGS                            | MPH ACQUISITION HOLDINGS SR SECURED 144A 09/28 5.5       | CUSIP: 553283AD4<br>LEI: 5493002WXOPRPTXWTU06 | Long             | DBT              | CORP              | US        |     95000 | PA      | $79124.55      | 0.02%             | 2028-09-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| NAVIENT CORP                                        | NAVIENT CORP SR UNSECURED 03/27 5                        | CUSIP: 63938CAK4<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |    422000 | PA      | $385788.18     | 0.10%             | 2027-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NETFLIX INC                                         | NETFLIX INC SR UNSECURED 144A 06/30 4.875                | CUSIP: 64110LAV8<br>LEI: 549300Y7VHGU0I7CE873 | Long             | DBT              | CORP              | US        |    240000 | PA      | $237902.40     | 0.06%             | 2030-06-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                             | FRONTIER COMMUNICATIONS SR SECURED 144A 05/30 8.75       | CUSIP: 35908MAD2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     48000 | PA      | $49763.52      | 0.01%             | 2030-05-15      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| ORGANON & CO/ORG                                    | ORGANON + CO/ORG SR UNSECURED 144A 04/31 5.125           | CUSIP: 68622TAB7<br>LEI: 549300SH15FO4Y2G3V63 | Long             | DBT              | CORP              | US        |    350000 | PA      | $315668.50     | 0.08%             | 2031-04-30      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| FRONTIER CALIFORNIA INC                             | FRONTIER CALIFORNIA INC SR UNSECURED 05/27 6.75          | CUSIP: 362311AG7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    195000 | PA      | $184844.40     | 0.05%             | 2027-05-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| FRONTIER FLORIDA LLC                                | FRONTIER FLORIDA LLC SR UNSECURED 02/28 6.86             | CUSIP: 362333AH9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    202000 | PA      | $187910.50     | 0.05%             | 2028-02-01      | Fixed         | 6.86%                 | No            |                  2 | On Loan: No      |
| PENN ENTERTAINMENT INC                              | PENN ENTERTAINMENT INC SR UNSECURED 144A 07/29 4.125     | CUSIP: 707569AV1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    215000 | PA      | $178409.15     | 0.05%             | 2029-07-01      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| PENN NATIONAL GAMING INC.                           | PENN NATIONAL GAMING, INC. 2022 TERM LOAN B              | CUSIP: 70757DAZ2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     91739 | PA      | $91789.92      | 0.02%             | 2029-05-03      | Floating      | 7.54%                 | No            |                  2 | On Loan: No      |
| PETCO HEALTH AND WELLNESS COMPANY INC.              | PETCO HEALTH AND WELLNESS COMP 2021 TERM LOAN B          | CUSIP: 71601HAB2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    334050 | PA      | $331145.44     | 0.09%             | 2028-03-04      | Floating      | 7.87%                 | No            |                  2 | On Loan: No      |
| WILLIAMS SCOTSMAN INTL                              | WILLIAMS SCOTSMAN INTL SR SECURED 144A 08/28 4.625       | CUSIP: 96950GAE2<br>LEI: 549300V3TCHCBOBTGH07 | Long             | DBT              | CORP              | US        |     47000 | PA      | $43590.15      | 0.01%             | 2028-08-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| WEC ENERGY GROUP INC                                | WEC ENERGY GROUP INC JR SUBORDINA 05/67 VAR              | CUSIP: 976657AH9<br>LEI: 549300IGLYTZUK3PVP70 | Long             | DBT              | CORP              | US        |    205000 | PA      | $175539.45     | 0.05%             | 2067-05-15      | Variable      | 6.72%                 | No            |                  2 | On Loan: No      |
| ACPRODUCTS INC.                                     | ACPRODUCTS INC 2021 TERM LOAN B                          | CUSIP: 00488YAB2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     98500 | PA      | $80171.12      | 0.02%             | 2028-05-17      | Floating      | 9.49%                 | No            |                  2 | On Loan: No      |
| ACRISURE LLC / FIN INC                              | ACRISURE LLC / FIN INC SR UNSECURED 144A 11/25 7         | CUSIP: 00489LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    251000 | PA      | $239288.34     | 0.06%             | 2025-11-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| FRONTIER NORTH INC                                  | FRONTIER NORTH INC SR UNSECURED 02/28 6.73               | CUSIP: 362337AK3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    280000 | PA      | $259285.60     | 0.07%             | 2028-02-15      | Fixed         | 6.73%                 | No            |                  2 | On Loan: No      |
| GAP INC/THE                                         | GAP INC/THE COMPANY GUAR 144A 10/29 3.625                | CUSIP: 364760AP3<br>LEI: T2ZG1WRWZ4BUCMQL9224 | Long             | DBT              | CORP              | US        |      9000 | PA      | $6925.77       | 0.00%             | 2029-10-01      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| GAP INC/THE                                         | GAP INC/THE COMPANY GUAR 144A 10/31 3.875                | CUSIP: 364760AQ1<br>LEI: T2ZG1WRWZ4BUCMQL9224 | Long             | DBT              | CORP              | US        |     71000 | PA      | $53247.87      | 0.01%             | 2031-10-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: —       |
| GENERAL MOTORS FINL CO                              | GENERAL MOTORS FINL CO JR SUBORDINA 12/99 VAR            | CUSIP: 37045XCM6<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    395000 | PA      | $373215.75     | 0.10%             | 2063-01-31      | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| GEN DIGITAL INC                                     | GEN DIGITAL INC COMPANY GUAR 144A 09/30 7.125            | CUSIP: 668771AL2<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | DBT              | CORP              | US        |     90000 | PA      | $91448.10      | 0.02%             | 2030-09-30      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| NOVELIS CORP                                        | NOVELIS CORP COMPANY GUAR 144A 01/30 4.75                | CUSIP: 670001AE6<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |    172000 | PA      | $157402.36     | 0.04%             | 2030-01-30      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| OI EUROPEAN GROUP BV                                | OI EUROPEAN GROUP BV COMPANY GUAR 144A 02/30 4.75        | CUSIP: 67777LAD5<br>LEI: 72450053F5WRDY8CDZ66 | Long             | DBT              | CORP              | NL        |     70000 | PA      | $62992.30      | 0.02%             | 2030-02-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES                              | PNC FINANCIAL SERVICES JR SUBORDINA 12/99 VAR            | CUSIP: 693475BF1<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |    360000 | PA      | $360957.60     | 0.10%             | 2063-01-31      | Variable      | 6.20%                 | No            |                  2 | On Loan: —       |
| GENERAL MOTORS FINL CO                              | GENERAL MOTORS FINL CO JR SUBORDINA 12/99 VAR            | CUSIP: 37045XDB9<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    465000 | PA      | $433175.40     | 0.12%             | 2063-01-31      | Variable      | 5.70%                 | No            |                  2 | On Loan: —       |
| GENESIS ENERGY LP/FIN                               | GENESIS ENERGY LP/FIN SR UNSECURED 04/30 8.875           | CUSIP: 37185LAN2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     46000 | PA      | $46779.24      | 0.01%             | 2030-04-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| ENACT HOLDINGS INC                                  | ENACT HOLDINGS INC SR UNSECURED 144A 08/25 6.5           | CUSIP: 37255LAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    241000 | PA      | $237760.96     | 0.06%             | 2025-08-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| GLOBAL NET LEASE/GLOBAL                             | GLOBAL NET LEASE/GLOBAL COMPANY GUAR 144A 12/27 3.75     | CUSIP: 37892AAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    275000 | PA      | $232457.50     | 0.06%             | 2027-12-15      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| GO DADDY OPCO/FINCO                                 | GO DADDY OPCO/FINCO COMPANY GUAR 144A 03/29 3.5          | CUSIP: 38016LAC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    165000 | PA      | $142931.25     | 0.04%             | 2029-03-01      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| GOEASY LTD                                          | GOEASY LTD COMPANY GUAR 144A 12/24 5.375                 | CUSIP: 380355AD9<br>LEI: 5493009DJVZG2P8YV435 | Long             | DBT              | CORP              | CA        |    325000 | PA      | $311873.25     | 0.08%             | 2024-12-01      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| ACRISURE LLC / FIN INC                              | ACRISURE LLC / FIN INC SR UNSECURED 144A 08/29 6         | CUSIP: 00489LAH6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    283000 | PA      | $233837.24     | 0.06%             | 2029-08-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| AERCAP HOLDINGS NV                                  | AERCAP HOLDINGS NV COMPANY GUAR 10/79 VAR                | CUSIP: 00774YAA7<br>LEI: 549300SZYINBBLJQU475 | Long             | DBT              | CORP              | NL        |    800000 | PA      | $766192.00     | 0.20%             | 2079-10-10      | Variable      | 5.88%                 | No            |                  2 | On Loan: —       |
| GOEASY LTD                                          | GOEASY LTD COMPANY GUAR 144A 05/26 4.375                 | CUSIP: 380355AF4<br>LEI: 5493009DJVZG2P8YV435 | Long             | DBT              | CORP              | CA        |    177000 | PA      | $159004.41     | 0.04%             | 2026-05-01      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                             | GOLDMAN SACHS GROUP INC JR SUBORDINA 12/99 VAR           | CUSIP: 38141GYU2<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    442000 | PA      | $394683.90     | 0.11%             | 2063-01-31      | Variable      | 4.12%                 | No            |                  2 | On Loan: No      |
| PPL CAPITAL FUNDING INC                             | PPL CAPITAL FUNDING INC COMPANY GUAR 03/67 VAR           | CUSIP: 69352PAC7<br>LEI: 549300MROK5WY0D2NU17 | Long             | DBT              | CORP              | US        |    254000 | PA      | $223641.92     | 0.06%             | 2067-03-30      | Variable      | 7.39%                 | No            |                  2 | On Loan: No      |
| PHH MORTGAGE CORP                                   | PHH MORTGAGE CORP SR SECURED 144A 03/26 7.875            | CUSIP: 69356NAA2<br>LEI: PAOOWF3GUFM46FBSP561 | Long             | DBT              | CORP              | US        |    295000 | PA      | $270069.55     | 0.07%             | 2026-03-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| PTC INC                                             | PTC INC COMPANY GUAR 144A 02/28 4                        | CUSIP: 69370CAC4<br>LEI: 54930050SSMU8SKDJ030 | Long             | DBT              | CORP              | US        |    118000 | PA      | $110038.54     | 0.03%             | 2028-02-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| PADAGIS LLC                                         | PADAGIS LLC TERM LOAN B                                  | CUSIP: 69526PAC8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    207059 | PA      | $193255.24     | 0.05%             | 2028-07-06      | Floating      | 9.77%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                             | GOLDMAN SACHS GROUP INC JR SUBORDINA 12/99 VAR           | CUSIP: 38144GAC5<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   1180000 | PA      | $1072679.00    | 0.29%             | 2063-01-31      | Variable      | 4.40%                 | No            |                  2 | On Loan: No      |
| GOODYEAR TIRE & RUBBER                              | GOODYEAR TIRE + RUBBER COMPANY GUAR 07/29 5              | CUSIP: 382550BN0<br>LEI: 5493002BI0S2ZQUY3437 | Long             | DBT              | CORP              | US        |    144000 | PA      | $127107.36     | 0.03%             | 2029-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: —       |
| GRAHAM PACKAGING/GPC CAP                            | GRAHAM PACKAGING/GPC CAP COMPANY GUAR 144A 08/28 7.125   | CUSIP: 384701AA6<br>LEI: 549300YS0ZFT826HIK72 | Long             | DBT              | CORP              | US        |    118000 | PA      | $103865.96     | 0.03%             | 2028-08-15      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| GRANITE HOLDINGS US ACQUISITION CO.                 | GRANITE HOLDINGS US ACQ CO 2021 TERM LOAN B              | CUSIP: 38740TAE1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    296774 | PA      | $296959.04     | 0.08%             | 2026-09-30      | Floating      | 9.01%                 | No            |                  2 | On Loan: No      |
| GRAPHIC PACKAGING INTERN                            | GRAPHIC PACKAGING INTERN COMPANY GUAR 144A 03/29 3.5     | CUSIP: 38869AAC1<br>LEI: SO75N4VY5NXGQSK8YQ65 | Long             | DBT              | CORP              | US        |     88000 | PA      | $77581.68      | 0.02%             | 2029-03-01      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| GREAT LAKES DREDGE&DOCK                             | GREAT LAKES DREDGE+DOCK COMPANY GUAR 144A 06/29 5.25     | CUSIP: 390607AF6<br>LEI: 549300H65E3MZ1CX0P05 | Long             | DBT              | CORP              | US        |    203000 | PA      | $171437.56     | 0.05%             | 2029-06-01      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| GREYSTAR REAL ESTATE PAR                            | GREYSTAR REAL ESTATE PAR SR SECURED 144A 12/25 5.75      | CUSIP: 39807UAB2<br>LEI: 254900HGC806SXAS4M46 | Long             | DBT              | CORP              | US        |    427000 | PA      | $421995.56     | 0.11%             | 2025-12-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| GROUP 1 AUTOMOTIVE INC                              | GROUP 1 AUTOMOTIVE INC COMPANY GUAR 144A 08/28 4         | CUSIP: 398905AN9<br>LEI: 549300US8QAZJLWYAF63 | Long             | DBT              | CORP              | US        |     79000 | PA      | $69509.73      | 0.02%             | 2028-08-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| STMICROELECTRONICS NV                               | STMICROELECTRONICS NV NY SHS NY REG SHRS                 | CUSIP: 861012102<br>LEI: 213800Z8NOHIKRI42W10 | Short            | EC               | CORP              | NL        |    -71500 | NS      | $-3376230.00   | -0.90%            |  |  |  | No            |                  1 | On Loan: No      |
| SYSCO CORP                                          | SYSCO CORP COMMON STOCK USD1.0                           | CUSIP: 871829107<br>LEI: 5RGWIFLMGH3YS7KWI652 | Long             | EC               | CORP              | US        |    134000 | NS      | $10379640.00   | 2.78%             |  |  |  | No            |                  1 | On Loan: No      |
| GUITAR CENTER INC                                   | GUITAR CENTER INC SR SECURED 144A 01/26 8.5              | CUSIP: 40204BAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    283000 | PA      | $247574.06     | 0.07%             | 2026-01-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| GULFPORT ENERGY OP CORP                             | GULFPORT ENERGY OP CORP COMPANY GUAR 144A 05/26 8        | CUSIP: 402635AR7<br>LEI: 549300FJX18IDUFPHD40 | Long             | DBT              | CORP              | US        |    210000 | PA      | $208639.20     | 0.06%             | 2026-05-17      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| H&E EQUIPMENT SERVICES                              | H+E EQUIPMENT SERVICES COMPANY GUAR 144A 12/28 3.875     | CUSIP: 404030AJ7<br>LEI: 254900KVLRCDMQRYY541 | Long             | DBT              | CORP              | US        |    443000 | PA      | $391213.30     | 0.10%             | 2028-12-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| H.B. FULLER CO                                      | H.B. FULLER CO SR UNSECURED 10/28 4.25                   | CUSIP: 40410KAA3<br>LEI: JSMX3Z5FOYM8V0Q52357 | Long             | DBT              | CORP              | US        |    144000 | PA      | $127683.36     | 0.03%             | 2028-10-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                                   | HSBC HOLDINGS PLC JR SUBORDINA 12/49 VAR                 | CUSIP: 404280AT6<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    400000 | PA      | $394856.00     | 0.11%             | 2063-03-30      | Variable      | 6.38%                 | No            |                  2 | On Loan: No      |
| HAWAIIAN BRAND INTELLECT                            | HAWAIIAN BRAND INTELLECT SR SECURED 144A 01/26 5.75      | CUSIP: 41984LAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    281000 | PA      | $268886.09     | 0.07%             | 2026-01-20      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| TRANSUNION                                          | TRANSUNION COMMON STOCK USD.01                           | CUSIP: 89400J107<br>LEI: 549300ZS772LUNUMRB03 | Long             | EC               | CORP              | US        |     96000 | NS      | $6888000.00    | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| UBER TECHNOLOGIES INC                               | UBER TECHNOLOGIES INC COMMON STOCK USD.00001             | CUSIP: 90353T100<br>LEI: 549300B2FTG34FILDR98 | Long             | EC               | CORP              | US        |    243000 | NS      | $7515990.00    | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| HERC HOLDINGS INC                                   | HERC HOLDINGS INC COMPANY GUAR 144A 07/27 5.5            | CUSIP: 42704LAA2<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |    475000 | PA      | $455686.50     | 0.12%             | 2027-07-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                            | HILCORP ENERGY I/HILCORP SR UNSECURED 144A 04/30 6       | CUSIP: 431318AY0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    220000 | PA      | $206186.20     | 0.06%             | 2030-04-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| PAR PETRO LLC / FIN CORP                            | PAR PETRO LLC / FIN CORP SR SECURED 144A 12/25 7.75      | CUSIP: 69889MAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    169000 | PA      | $166977.07     | 0.04%             | 2025-12-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| PARK INTERMED HOLDINGS                              | PARK INTERMED HOLDINGS SR SECURED 144A 10/28 5.875       | CUSIP: 70052LAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     98000 | PA      | $90770.54      | 0.02%             | 2028-10-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| HUNTINGTON BANCSHARES                               | HUNTINGTON BANCSHARES JR SUBORDINA 12/99 VAR             | CUSIP: 446150AV6<br>LEI: 549300XTVCVV9I7B5T19 | Long             | DBT              | CORP              | US        |    940000 | PA      | $891543.00     | 0.24%             | 2063-01-31      | Variable      | 4.45%                 | No            |                  2 | On Loan: —       |
| ICAHN ENTERPRISES/FIN                               | ICAHN ENTERPRISES/FIN COMPANY GUAR 05/27 5.25            | CUSIP: 451102BZ9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $140553.00     | 0.04%             | 2027-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ICAHN ENTERPRISES/FIN                               | ICAHN ENTERPRISES/FIN COMPANY GUAR 02/29 4.375           | CUSIP: 451102CC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    144000 | PA      | $125637.12     | 0.03%             | 2029-02-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| II-VI INCORPORATED                                  | II VI INCORPORATED 2022 TERM LOAN B                      | CUSIP: 45173JAQ7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    191030 | PA      | $190970.19     | 0.05%             | 2029-07-01      | Floating      | 8.35%                 | No            |                  2 | On Loan: No      |
| IEA ENERGY SERVICES LLC                             | IEA ENERGY SERVICES LLC COMPANY GUAR 144A 08/29 6.625    | CUSIP: 45174AAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    220000 | PA      | $216145.60     | 0.06%             | 2029-08-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| ING GROEP NV                                        | ING GROEP NV JR SUBORDINA 12/99 VAR                      | CUSIP: 456837AY9<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $162838.00     | 0.04%             | 2063-05-16      | Variable      | 3.88%                 | No            |                  2 | On Loan: No      |
| ING GROEP NV                                        | ING GROEP NV JR SUBORDINA 12/99 VAR                      | CUSIP: 456837AZ6<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |    800000 | PA      | $606040.00     | 0.16%             | 2063-01-31      | Variable      | 4.25%                 | No            |                  2 | On Loan: No      |
| INNOPHOS INC.                                       | INNOPHOS INC 2020 TERM LOAN B                            | CUSIP: 45778EAG9<br>LEI: XQ0331QX53IRX25OY417 | Long             | LON              | CORP              | US        |    226288 | PA      | $226146.07     | 0.06%             | 2027-02-07      | Floating      | 8.99%                 | No            |                  2 | On Loan: No      |
| UNION PACIFIC CORP                                  | UNION PACIFIC CORP COMMON STOCK USD2.5                   | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |     42500 | NS      | $8678075.00    | 2.32%             |  |  |  | No            |                  1 | On Loan: No      |
| US CELLULAR CORP                                    | US CELLULAR CORP PREFERRED STOCK 06/70 5.5               | CUSIP: 911684884<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     14325 | NS      | $268020.75     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | ESC CB144A INTELSAT JA 07/25 9.75                        | CUSIP: N/A<br>LEI: 8XJ8KF85PBKK1TLMFN29       | Long             | DBT              | CORP              | LU        |    145000 | PA      | $0.15          | 0.00%             | 2025-07-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| STONEX GROUP INC                                    | STONEX GROUP INC SR SECURED 144A 06/25 8.625             | CUSIP: 46116VAE5<br>LEI: 549300JUF07L8VF02M60 | Long             | DBT              | CORP              | US        |    199000 | PA      | $201821.82     | 0.05%             | 2025-06-15      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| SPDR S&P 500 ETF TRUST                              | SPDR S+P 500 ETF TRUST MAR23 331 PUT                     | CUSIP: N/A<br>LEI: 549300NZAMSJ8FXPQQ63       | N/A              | DE               |  | US        |     -1185 | NC      | $-58065.00     | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| TRANSUNION                                          | TRANSUNION FEB23 75 CALL                                 | CUSIP: N/A<br>LEI: 549300ZS772LUNUMRB03       | N/A              | DE               |  | US        |      -960 | NC      | $-122400.00    | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| UNITED AIRLINES HOLDINGS INC                        | UNITED AIRLINES HOLDINGS INC FEB23 45 PUT                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     -1165 | NC      | $-44270.00     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| PARKLAND CORP                                       | PARKLAND CORP COMPANY GUAR 144A 07/27 5.875              | CUSIP: 70137TAP0<br>LEI: 549300XHQS1JYWBNK868 | Long             | DBT              | CORP              | CA        |    200000 | PA      | $192292.00     | 0.05%             | 2027-07-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| PARTNERRE FINANCE B LLC                             | PARTNERRE FINANCE B LLC COMPANY GUAR 10/50 VAR           | CUSIP: 70213BAC5<br>LEI: 549300O0FAGHK2F79881 | Long             | DBT              | CORP              | US        |   1148000 | PA      | $1031374.68    | 0.28%             | 2050-10-01      | Variable      | 4.50%                 | No            |                  2 | On Loan: —       |
| IRON MOUNTAIN INC                                   | IRON MOUNTAIN INC COMPANY GUAR 144A 03/28 5.25           | CUSIP: 46284VAE1<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |    380000 | PA      | $361714.40     | 0.10%             | 2028-03-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| JBS USA/FOOD/FINANCE                                | JBS USA/FOOD/FINANCE SR UNSECURED 144A 01/30 5.5         | CUSIP: 46590XAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    280000 | PA      | $272277.60     | 0.07%             | 2030-01-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| JBS USA/FOOD/FINANCE                                | JBS USA/FOOD/FINANCE COMPANY GUAR 144A 02/28 5.125       | CUSIP: 46590XAG1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    215000 | PA      | $210906.40     | 0.06%             | 2028-02-01      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| JBS USA/FOOD/FINANCE                                | JBS USA/FOOD/FINANCE COMPANY GUAR 144A 04/33 5.75        | CUSIP: 46590XAH9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     70000 | PA      | $68950.00      | 0.02%             | 2033-04-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| JEFFERIES FIN LLC / JFIN                            | JEFFERIES FIN LLC / JFIN SR UNSECURED 144A 08/28 5       | CUSIP: 47232MAF9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    525000 | PA      | $449237.25     | 0.12%             | 2028-08-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| 1375209 BC LTD                                      | 1375209 BC LTD SR SECURED 144A 01/28 9                   | CUSIP: 68251PAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    179000 | PA      | $178527.44     | 0.05%             | 2028-01-30      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                                | ONEMAIN FINANCE CORP COMPANY GUAR 09/28 3.875            | CUSIP: 682691AC4<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    130000 | PA      | $109668.00     | 0.03%             | 2028-09-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| OPEN TEXT CORP                                      | OPEN TEXT CORP COMPANY GUAR 144A 02/28 3.875             | CUSIP: 683715AC0<br>LEI: 549300HP7ONDQODZJV16 | Long             | DBT              | CORP              | CA        |    129000 | PA      | $112254.51     | 0.03%             | 2028-02-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| OPEN TEXT CORP                                      | OPEN TEXT CORP COMPANY GUAR 144A 12/29 3.875             | CUSIP: 683715AD8<br>LEI: 549300HP7ONDQODZJV16 | Long             | DBT              | CORP              | CA        |     72000 | PA      | $60016.32      | 0.02%             | 2029-12-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| OPEN TEXT CORP                                      | OPEN TEXT CORP SR SECURED 144A 12/27 6.9                 | CUSIP: 683715AF3<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |     90000 | PA      | $92304.00      | 0.02%             | 2027-12-01      | Fixed         | 6.90%                 | Yes           |                  2 | On Loan: No      |
| OPEN TEXT HOLDINGS INC                              | OPEN TEXT HOLDINGS INC COMPANY GUAR 144A 12/31 4.125     | CUSIP: 683720AC0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     72000 | PA      | $58599.36      | 0.02%             | 2031-12-01      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| OSCAR ACQUISITIONCO LLC                             | OSCAR ACQUISITIONCO, LLC TERM LOAN B                     | CUSIP: 68778DAB4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    199500 | PA      | $193736.45     | 0.05%             | 2029-04-29      | Floating      | 9.22%                 | No            |                  2 | On Loan: No      |
| OWENS-BROCKWAY                                      | OWENS BROCKWAY COMPANY GUAR 144A 05/27 6.625             | CUSIP: 69073TAT0<br>LEI: V2UQUCDZJ9WY98W8QU33 | Long             | DBT              | CORP              | US        |    285000 | PA      | $280593.90     | 0.08%             | 2027-05-13      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: —       |
| ROCKETMTGE CO-ISSUER INC                            | ROCKETMTGE CO ISSUER INC COMPANY GUAR 144A 03/31 3.875   | CUSIP: 74841CAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     85000 | PA      | $69381.25      | 0.02%             | 2031-03-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| TTM TECHNOLOGIES INC                                | TTM TECHNOLOGIES INC COMPANY GUAR 144A 03/29 4           | CUSIP: 87305RAK5<br>LEI: 549300SC4BDOIS008048 | Long             | DBT              | CORP              | US        |    265000 | PA      | $231649.75     | 0.06%             | 2029-03-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: —       |
| RHP HOTEL PPTY/RHP FINAN                            | RHP HOTEL PPTY/RHP FINAN COMPANY GUAR 144A 02/29 4.5     | CUSIP: 749571AG0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    220000 | PA      | $196902.20     | 0.05%             | 2029-02-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| PACTIV EVERGREEN GROUP                              | PACTIV EVERGREEN GROUP SR SECURED 144A 10/27 4           | CUSIP: 76174LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    225000 | PA      | $202524.75     | 0.05%             | 2027-10-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| UBS GROUP AG                                        | UBS GROUP AG JR SUBORDINA 144A 12/99 VAR                 | CUSIP: 90352JAF0<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    575000 | PA      | $573752.25     | 0.15%             | 2063-01-31      | Variable      | 7.00%                 | Yes           |                  2 | On Loan: No      |
| ADVANCED MICRO DEVICES INC                          | ADVANCED MICRO DEVICES INC FEB23 73 PUT                  | CUSIP: N/A<br>LEI: R2I72C950HOYXII45366       | N/A              | DE               |  | US        |      1090 | NC      | $198380.00     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| ADVANCED MICRO DEVICES INC                          | ADVANCED MICRO DEVICES INC FEB23 83 CALL                 | CUSIP: N/A<br>LEI: R2I72C950HOYXII45366       | N/A              | DE               |  | US        |     -1090 | NC      | $-142790.00    | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| SYSCO CORP                                          | SYSCO CORP FEB23 78 CALL                                 | CUSIP: N/A<br>LEI: 5RGWIFLMGH3YS7KWI652       | N/A              | DE               |  | US        |      -435 | NC      | $-25012.50     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| SYSCO CORP                                          | SYSCO CORP FEB23 74 PUT                                  | CUSIP: N/A<br>LEI: 5RGWIFLMGH3YS7KWI652       | N/A              | DE               |  | US        |       435 | NC      | $4350.00       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| AETHON UN/AETHIN UN FIN                             | AETHON UN/AETHIN UN FIN SR UNSECURED 144A 02/26 8.25     | CUSIP: 00810GAC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    286000 | PA      | $284881.74     | 0.08%             | 2026-02-15      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| AIR CANADA 2015-2B PTT                              | AIR CANADA 2015 2B PTT PASS THRU CE 144A 06/25 5         | CUSIP: 009088AC9<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |     39333 | PA      | $38343.20      | 0.01%             | 2023-12-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| PATAGONIA HOLDCO LLC                                | PATAGONIA HOLDCO LLC TERM LOAN B1                        | CUSIP: 70289FAD3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    179550 | PA      | $151719.75     | 0.04%             | 2029-08-01      | Floating      | 9.97%                 | No            |                  2 | On Loan: No      |
| PATRICK INDUSTRIES INC                              | PATRICK INDUSTRIES INC COMPANY GUAR 144A 05/29 4.75      | CUSIP: 703343AD5<br>LEI: 549300FZ5ZTCCJ3Z5W14 | Long             | DBT              | CORP              | US        |    285000 | PA      | $243880.20     | 0.07%             | 2029-05-01      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                 | ELLINGTON FINANCIAL PREFERRED STOCK VAR                  | CUSIP: N/A<br>LEI: 60GS1D1R1YY5G1W7IT74       | Long             | EC               | CORP              | US        |      8923 | NS      | $175961.56     | 0.05%             | 2049-12-31      | Variable      | 6.25%                 | No            |                  1 | On Loan: No      |
| FIRST REPUBLIC BANK                                 | FIRST REPUBLIC BANK PREFERRED STOCK 4.125                | CUSIP: 33616C761<br>LEI: YWC0TIKBQM2JV8L4IV08 | Long             | EP               | CORP              | US        |      5687 | NS      | $107143.08     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN AIRLINES INC.                              | AMERICAN AIRLINES, INC. 2021 TERM LOAN                   | CUSIP: 02376CBJ3<br>LEI: N/A                  | Long             | LON              | CORP              | KY        |    165000 | PA      | $169691.78     | 0.05%             | 2028-04-20      | Floating      | 9.77%                 | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES GROUP                             | AMERICAN AIRLINES GROUP COMPANY GUAR 144A 03/25 3.75     | CUSIP: 02376RAE2<br>LEI: IWUQB36BXD6OWD6X4T14 | Long             | DBT              | CORP              | US        |     50000 | PA      | $46787.50      | 0.01%             | 2025-03-01      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: —       |
| AMERICAN AXLE AND MANUFACTURING INC.                | AMERICAN AXLE + MANUFACTURING 2022 TERM LOAN B           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    150000 | PA      | $150249.75     | 0.04%             | 2029-12-13      | Floating      | 9.12%                 | No            |                  2 | On Loan: No      |
| AMERICAN AXLE & MFG INC                             | AMERICAN AXLE + MFG INC COMPANY GUAR 07/28 6.875         | CUSIP: 02406PBA7<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | DBT              | CORP              | US        |    201000 | PA      | $183388.38     | 0.05%             | 2028-07-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| FIRST SOLAR INC                                     | FIRST SOLAR INC COMMON STOCK USD.001                     | CUSIP: 336433107<br>LEI: 549300NPYMLM4NHTOF27 | Short            | EC               | CORP              | US        |    -21000 | NS      | $-3729600.00   | -1.00%            |  |  |  | No            |                  1 | On Loan: No      |
| FORD MOTOR COMPANY                                  | FORD MOTOR COMPANY PREFERRED STOCK 08/62 6.5             | CUSIP: 345370811<br>LEI: N/A                  | Long             | EP               | CORP              | US        |      7236 | NS      | $176341.32     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN EXPRESS CO                                 | AMERICAN EXPRESS CO JR SUBORDINA 12/99 VAR               | CUSIP: 025816CH0<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    417000 | PA      | $369720.54     | 0.10%             | 2063-01-31      | Variable      | 3.55%                 | No            |                  2 | On Loan: No      |
| NECESS RETAIL/AFIN OP LP                            | NECESS RETAIL/AFIN OP LP COMPANY GUAR 144A 09/28 4.5     | CUSIP: 02608AAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    220000 | PA      | $169235.00     | 0.05%             | 2028-09-30      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| ASSUREDPARTNERS INC.                                | ASSUREDPARTNERS INC 2022 TERM LOAN                       | CUSIP: 04621HAT0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    174560 | PA      | $172896.74     | 0.05%             | 2027-02-13      | Floating      | 9.12%                 | No            |                  2 | On Loan: No      |
| AT HOME GROUP INC                                   | AT HOME GROUP INC SR SECURED 144A 07/28 4.875            | CUSIP: 04650YAA8<br>LEI: 549300LGPR0P05O30I24 | Long             | DBT              | CORP              | US        |    217000 | PA      | $158731.16     | 0.04%             | 2028-07-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| AVIATION CAPITAL GROUP                              | AVIATION CAPITAL GROUP SR UNSECURED 144A 11/27 3.5       | CUSIP: 05369AAA9<br>LEI: 549300ODEK8HY3445C77 | Long             | DBT              | CORP              | US        |    208000 | PA      | $186869.28     | 0.05%             | 2027-11-01      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| AVOLON HOLDINGS FNDG LTD                            | AVOLON HOLDINGS FNDG LTD SR UNSECURED 144A 01/26 5.5     | CUSIP: 05401AAK7<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |     75000 | PA      | $73517.25      | 0.02%             | 2026-01-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| AXIS SPECIALTY FINANCE                              | AXIS SPECIALTY FINANCE COMPANY GUAR 01/40 VAR            | CUSIP: 05463HAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    835000 | PA      | $717724.25     | 0.19%             | 2040-01-15      | Variable      | 4.90%                 | No            |                  2 | On Loan: No      |
| BP CAPITAL MARKETS PLC                              | BP CAPITAL MARKETS PLC COMPANY GUAR 12/99 VAR            | CUSIP: 05565QDU9<br>LEI: 549300CRVT18MXX0AG93 | Long             | DBT              | CORP              | GB        |    355000 | PA      | $344701.45     | 0.09%             | 2063-01-31      | Variable      | 4.38%                 | No            |                  2 | On Loan: No      |
| BP CAPITAL MARKETS PLC                              | BP CAPITAL MARKETS PLC COMPANY GUAR 12/99 VAR            | CUSIP: 05565QDV7<br>LEI: 549300CRVT18MXX0AG93 | Long             | DBT              | CORP              | GB        |    810000 | PA      | $757698.30     | 0.20%             | 2063-01-31      | Variable      | 4.88%                 | No            |                  2 | On Loan: No      |
| BWX TECHNOLOGIES INC                                | BWX TECHNOLOGIES INC COMPANY GUAR 144A 04/29 4.125       | CUSIP: 05605HAC4<br>LEI: 549300NP85N265KWMS58 | Long             | DBT              | CORP              | US        |    191000 | PA      | $172860.73     | 0.05%             | 2029-04-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| BALL CORP                                           | BALL CORP COMPANY GUAR 03/28 6.875                       | CUSIP: 058498AY2<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | DBT              | CORP              | US        |     70000 | PA      | $72314.20      | 0.02%             | 2028-03-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| BUCKEYE PARTNERS LP                                 | BUCKEYE PARTNERS LP SR UNSECURED 11/43 5.85              | CUSIP: 118230AM3<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |    460000 | PA      | $353919.40     | 0.09%             | 2043-11-15      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| BUCKEYE PARTNERS LP                                 | BUCKEYE PARTNERS LP SR UNSECURED 12/26 3.95              | CUSIP: 118230AQ4<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |    205000 | PA      | $188329.40     | 0.05%             | 2026-12-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| BANFF MERGER SUB INC                                | BANFF MERGER SUB INC 2021 USD TERM LOAN                  | CUSIP: 05988HAE7<br>LEI: 5493006T045HLTF7YX04 | Long             | LON              | CORP              | US        |    178351 | PA      | $175486.92     | 0.05%             | 2025-10-02      | Floating      | 9.37%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                | BANK OF AMERICA CORP JR SUBORDINA 12/99 VAR              | CUSIP: 06055HAB9<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    791000 | PA      | $789291.44     | 0.21%             | 2063-01-31      | Variable      | 6.12%                 | No            |                  2 | On Loan: —       |
| CHS/COMMUNITY HEALTH SYS                            | CHS/COMMUNITY HEALTH SYS SR SECURED 144A 05/30 5.25      | CUSIP: 12543DBM1<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |     24000 | PA      | $19383.60      | 0.01%             | 2030-05-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| CMS ENERGY CORP                                     | CMS ENERGY CORP JR SUBORDINA 06/50 VAR                   | CUSIP: 125896BU3<br>LEI: 549300IA9XFBAGNIBW29 | Long             | DBT              | CORP              | US        |    390000 | PA      | $355141.80     | 0.10%             | 2050-06-01      | Variable      | 4.75%                 | No            |                  2 | On Loan: No      |
| BANK OF MONTREAL                                    | BANK OF MONTREAL JR SUBORDINA 12/99 VAR                  | CUSIP: 06368B5P9<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |    405000 | PA      | $383952.15     | 0.10%             | 2063-01-31      | Variable      | 4.80%                 | No            |                  2 | On Loan: No      |
| BANK OF NY MELLON CORP                              | BANK OF NY MELLON CORP JR SUBORDINA 12/99 VAR            | CUSIP: 064058AH3<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |   1560000 | PA      | $1529143.20    | 0.41%             | 2063-01-31      | Variable      | 4.70%                 | No            |                  2 | On Loan: No      |
| BANK OF NOVA SCOTIA                                 | BANK OF NOVA SCOTIA JR SUBORDINA 10/81 VAR               | CUSIP: 0641598N9<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |    670000 | PA      | $529541.20     | 0.14%             | 2081-10-27      | Variable      | 3.62%                 | No            |                  2 | On Loan: No      |
| BANK OF NOVA SCOTIA                                 | BANK OF NOVA SCOTIA JR SUBORDINA 12/99 VAR               | CUSIP: 064159VJ2<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |    605000 | PA      | $588459.30     | 0.16%             | 2063-01-31      | Variable      | 4.90%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                        | BARCLAYS PLC JR SUBORDINA 12/99 VAR                      | CUSIP: 06738EBT1<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    620000 | PA      | $506261.00     | 0.14%             | 2063-01-31      | Variable      | 4.38%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                        | BARCLAYS PLC JR SUBORDINA 12/99 8                        | CUSIP: 06738EBX2<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |    725000 | PA      | $727327.25     | 0.19%             | 2063-03-15      | Variable      | 8.00%                 | No            |                  2 | On Loan: No      |
| BAUSCH HEALTH COS INC                               | BAUSCH HEALTH COS INC SR SECURED 144A 09/28 11           | CUSIP: 071734AQ0<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |    318000 | PA      | $249833.52     | 0.07%             | 2028-09-30      | Fixed         | 11.00%                | Yes           |                  2 | On Loan: No      |
| DELUXE CORP                                         | DELUXE CORP COMPANY GUAR 144A 06/29 8                    | CUSIP: 248019AU5<br>LEI: KWGNKB8TX9LE5TV29231 | Long             | DBT              | CORP              | US        |    245000 | PA      | $210082.60     | 0.06%             | 2029-06-01      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| DIAMOND SPORTS GR/DIAMON                            | DIAMOND SPORTS GR/DIAMON COMPANY GUAR 144A 08/27 6.625   | CUSIP: 25277LAC0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $3147.00       | 0.00%             | 2027-08-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| DIAMOND SPORTS GR/DIAMON                            | DIAMOND SPORTS GR/DIAMON SECURED 144A 08/26 5.375        | CUSIP: 25277LAF3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    115000 | PA      | $8499.65       | 0.00%             | 2026-08-15      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| DIRECTV FINANCING LLC                               | DIRECTV FINANCING LLC TERM LOAN                          | CUSIP: 25460HAB8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    261551 | PA      | $257806.06     | 0.07%             | 2027-08-02      | Floating      | 10.62%                | No            |                  2 | On Loan: No      |
| DIRECTV FIN LLC/COINC                               | DIRECTV FIN LLC/COINC SR SECURED 144A 08/27 5.875        | CUSIP: 25461LAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    264000 | PA      | $239543.04     | 0.06%             | 2027-08-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| DISCOVER FINANCIAL SVS                              | DISCOVER FINANCIAL SVS JR SUBORDINA 12/99 VAR            | CUSIP: 254709AN8<br>LEI: Z1YLO2USPORE63VVUL20 | Long             | DBT              | CORP              | US        |    425000 | PA      | $374752.25     | 0.10%             | 2063-01-31      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| DISCOVER FINANCIAL SVS                              | DISCOVER FINANCIAL SVS JR SUBORDINA 12/99 VAR            | CUSIP: 254709AQ1<br>LEI: Z1YLO2USPORE63VVUL20 | Long             | DBT              | CORP              | US        |    660000 | PA      | $658218.00     | 0.18%             | 2063-01-31      | Variable      | 6.12%                 | No            |                  2 | On Loan: No      |
| DISH NETWORK CORP                                   | DISH NETWORK CORP SR UNSECURED 03/24 2.375               | CUSIP: N/A<br>LEI: 529900U350CWHH15G169       | Long             | DBT              | CORP              | US        |    338000 | PA      | $315019.38     | 0.08%             | 2024-03-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| DISH NETWORK CORP                                   | DISH NETWORK CORP SR SECURED 144A 11/27 11.75            | CUSIP: 25470MAG4<br>LEI: 529900U350CWHH15G169 | Long             | DBT              | CORP              | US        |    186000 | PA      | $193082.88     | 0.05%             | 2027-11-15      | Fixed         | 11.75%                | Yes           |                  2 | On Loan: No      |
| DISH DBS CORP                                       | DISH DBS CORP COMPANY GUAR 07/26 7.75                    | CUSIP: 25470XAY1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    347000 | PA      | $281968.73     | 0.08%             | 2026-07-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| DISH DBS CORP                                       | DISH DBS CORP COMPANY GUAR 07/28 7.375                   | CUSIP: 25470XBB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    120000 | PA      | $86415.60      | 0.02%             | 2028-07-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| DISH DBS CORP                                       | DISH DBS CORP COMPANY GUAR 06/29 5.125                   | CUSIP: 25470XBD6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     95000 | PA      | $60567.25      | 0.02%             | 2029-06-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| DISH DBS CORP                                       | DISH DBS CORP SR SECURED 144A 12/26 5.25                 | CUSIP: 25470XBE4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    230000 | PA      | $198338.20     | 0.05%             | 2026-12-01      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                                    | CSC HOLDINGS LLC COMPANY GUAR 144A 02/28 5.375           | CUSIP: 126307AS6<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    285000 | PA      | $239781.90     | 0.06%             | 2028-02-01      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                                    | CSC HOLDINGS LLC SR UNSECURED 144A 01/30 5.75            | CUSIP: 126307BA4<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    200000 | PA      | $126412.00     | 0.03%             | 2030-01-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| DOMINION ENERGY INC                                 | DOMINION ENERGY INC JR SUBORDINA 12/99 VAR               | CUSIP: 25746UDD8<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |    695000 | PA      | $651771.00     | 0.17%             | 2063-01-31      | Variable      | 4.65%                 | No            |                  2 | On Loan: No      |
| DOMINION ENERGY INC                                 | DOMINION ENERGY INC JR SUBORDINA 12/99 VAR               | CUSIP: 25746UDM8<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |    367000 | PA      | $327099.76     | 0.09%             | 2063-01-31      | Variable      | 4.35%                 | No            |                  2 | On Loan: No      |
| PATTERSON-UTI ENERGY INC                            | PATTERSON UTI ENERGY INC SR UNSECURED 11/29 5.15         | CUSIP: 703481AC5<br>LEI: 254900XGFBKIXD6G0697 | Long             | DBT              | CORP              | US        |    187000 | PA      | $174706.62     | 0.05%             | 2029-11-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| PERFORMANCE FOOD GROUP I                            | PERFORMANCE FOOD GROUP I COMPANY GUAR 144A 08/29 4.25    | CUSIP: 71376LAE0<br>LEI: 549300OMUOGBYK0FFO76 | Long             | DBT              | CORP              | US        |    191000 | PA      | $170668.05     | 0.05%             | 2029-08-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| DUKE ENERGY CORP                                    | DUKE ENERGY CORP JR SUBORDINA 12/99 VAR                  | CUSIP: 26441CBG9<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |    900000 | PA      | $873243.00     | 0.23%             | 2063-01-31      | Variable      | 4.88%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CORP                                    | DUKE ENERGY CORP JR SUBORDINA 01/82 VAR                  | CUSIP: 26441CBP9<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |    368000 | PA      | $300229.12     | 0.08%             | 2082-01-15      | Variable      | 3.25%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                                    | CSC HOLDINGS LLC SR UNSECURED 144A 12/30 4.625           | CUSIP: 126307BD8<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    200000 | PA      | $118504.00     | 0.03%             | 2030-12-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                                    | CSC HOLDINGS LLC COMPANY GUAR 144A 11/31 4.5             | CUSIP: 126307BH9<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    215000 | PA      | $158635.60     | 0.04%             | 2031-11-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| DUN & BRADSTREET CORP                               | DUN + BRADSTREET CORP COMPANY GUAR 144A 12/29 5          | CUSIP: 26483EAL4<br>LEI: RI37BMPWE56BCJ747E14 | Long             | DBT              | CORP              | US        |     96000 | PA      | $85740.48      | 0.02%             | 2029-12-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| DUN & BRADSTREET CORPORATION (THE)                  | DUN + BRADSTREET CORP TERM LOAN                          | CUSIP: 26483NAN0<br>LEI: RI37BMPWE56BCJ747E14 | Long             | LON              | CORP              | US        |    425776 | PA      | $425586.78     | 0.11%             | 2026-02-08      | Floating      | 8.49%                 | No            |                  2 | On Loan: No      |
| PETSMART INC.                                       | PETSMART INC 2021 TERM LOAN B                            | CUSIP: 71677HAL9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    315040 | PA      | $313333.59     | 0.08%             | 2028-02-12      | Floating      | 9.15%                 | No            |                  2 | On Loan: No      |
| PETSMART INC/PETSMART FI                            | PETSMART INC/PETSMART FI SR SECURED 144A 02/28 4.75      | CUSIP: 71677KAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $232327.50     | 0.06%             | 2028-02-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| EPR PROPERTIES                                      | EPR PROPERTIES SR UNSECURED 08/29 3.75                   | CUSIP: 26884UAF6<br>LEI: 549300YSSXFHMPOWZ492 | Long             | DBT              | CORP              | US        |    152000 | PA      | $126997.52     | 0.03%             | 2029-08-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| EQM MIDSTREAM PARTNERS L                            | EQM MIDSTREAM PARTNERS L SR UNSECURED 144A 06/27 7.5     | CUSIP: 26885BAM2<br>LEI: 549300NELT611CL6XM83 | Long             | DBT              | CORP              | US        |    220000 | PA      | $220831.60     | 0.06%             | 2027-06-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| EARTHSTONE ENERGY HOL                               | EARTHSTONE ENERGY HOL COMPANY GUAR 144A 04/27 8          | CUSIP: 27034RAA1<br>LEI: 549300HGVO86L8G72J25 | Long             | DBT              | CORP              | US        |    286000 | PA      | $279284.72     | 0.07%             | 2027-04-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| ECO MATERIAL TECH INC                               | ECO MATERIAL TECH INC SR SECURED 144A 01/27 7.875        | CUSIP: 27900QAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    143000 | PA      | $137850.57     | 0.04%             | 2027-01-31      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| EDGEWELL PERSONAL CARE                              | EDGEWELL PERSONAL CARE COMPANY GUAR 144A 04/29 4.125     | CUSIP: 28035QAB8<br>LEI: 549300CY8QZDL4Z3RU59 | Long             | DBT              | CORP              | US        |    213000 | PA      | $185744.52     | 0.05%             | 2029-04-01      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| CAESARS ENTERTAIN INC                               | CAESARS ENTERTAIN INC SR SECURED 144A 07/25 6.25         | CUSIP: 28470RAH5<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |     93000 | PA      | $92713.56      | 0.02%             | 2025-07-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| CAESARS ENTERTAIN INC                               | CAESARS ENTERTAIN INC SR UNSECURED 144A 07/27 8.125      | CUSIP: 28470RAK8<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |     93000 | PA      | $94475.91      | 0.03%             | 2027-07-01      | Fixed         | 8.12%                 | Yes           |                  2 | On Loan: —       |
| EMBARQ CORP                                         | EMBARQ CORP SR UNSECURED 06/36 7.995                     | CUSIP: 29078EAA3<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |    135000 | PA      | $65223.90      | 0.02%             | 2036-06-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| EMBECTA CORP                                        | EMBECTA CORP SR SECURED 144A 02/30 5                     | CUSIP: 29082KAA3<br>LEI: 549300RPG8GXVDHNXZ62 | Long             | DBT              | CORP              | US        |    144000 | PA      | $118739.52     | 0.03%             | 2030-02-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| EMBECTA CORP                                        | EMBECTA CORP SR SECURED 144A 02/30 6.75                  | CUSIP: 29082KAB1<br>LEI: 549300RPG8GXVDHNXZ62 | Long             | DBT              | CORP              | US        |     48000 | PA      | $43298.40      | 0.01%             | 2030-02-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| SYSCO CORP                                          | SYSCO CORP FEB23 78 PUT                                  | CUSIP: N/A<br>LEI: 5RGWIFLMGH3YS7KWI652       | N/A              | DE               |  | US        |      -435 | NC      | $-48937.50     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| SPDR S&P 500 ETF TRUST                              | SPDR S+P 500 ETF TRUST FEB23 395 CALL                    | CUSIP: N/A<br>LEI: 549300NZAMSJ8FXPQQ63       | N/A              | DE               |  | US        |      2090 | NC      | $2501730.00    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| ENERGY TRANSFER LP                                  | ENERGY TRANSFER LP MLP                                   | CUSIP: 29273V100<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | EC               | CORP              | US        |     12950 | NS      | $171976.00     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| ENERGY TRANSFER LP                                  | ENERGY TRANSFER LP PREFERRED STOCK VAR                   | CUSIP: 29273V506<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | EP               | CORP              | US        |     31635 | NS      | $765250.65     | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| SNOWFLAKE INC                                       | SNOWFLAKE INC FEB23 150 CALL                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       540 | NC      | $720900.00     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| SNOWFLAKE INC                                       | SNOWFLAKE INC FEB23 125 PUT                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -270 | NC      | $-27810.00     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| ENERGY TRANSFER LP                                  | ENERGY TRANSFER LP JR SUBORDINA 12/99 VAR                | CUSIP: 29273VAN0<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    560000 | PA      | $528472.00     | 0.14%             | 2063-01-31      | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| ENERSYS                                             | ENERSYS COMPANY GUAR 144A 12/27 4.375                    | CUSIP: 29275YAC6<br>LEI: 7ZS3DE5PN30BYUJFWP05 | Long             | DBT              | CORP              | US        |     85000 | PA      | $78606.30      | 0.02%             | 2027-12-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| ENTERCOM MEDIA CORP                                 | ENTERCOM MEDIA CORP SECURED 144A 03/29 6.75              | CUSIP: 29365DAB5<br>LEI: 549300S5JUSXRHNCHD80 | Long             | DBT              | CORP              | US        |    231000 | PA      | $41513.01      | 0.01%             | 2029-03-31      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| FIRST CITIZENS BANCSHARE                            | FIRST CITIZENS BANCSHARE PREFERRED STOCK 5.625           | CUSIP: 31959X202<br>LEI: 549300N3Z00ZHE2XC526 | Long             | EP               | CORP              | US        |      3184 | NS      | $68073.92      | 0.02%             |  |  |  | No            |                  1 | On Loan: —       |
| FORD MOTOR CREDIT CO LLC                            | FORD MOTOR CREDIT CO LLC SR UNSECURED 03/30 7.35         | CUSIP: 345397C68<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    200000 | PA      | $210214.00     | 0.06%             | 2030-03-06      | Fixed         | 7.35%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                            | FORD MOTOR CREDIT CO LLC SR UNSECURED 05/29 5.113        | CUSIP: 345397ZR7<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    270000 | PA      | $256162.50     | 0.07%             | 2029-05-03      | Fixed         | 5.11%                 | No            |                  2 | On Loan: No      |
| SERVICE PROPERTIES TRUST                            | SERVICE PROPERTIES TRUST SR UNSECURED 02/26 5.25         | CUSIP: 44106MAV4<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              | CORP              | US        |     95000 | PA      | $82407.75      | 0.02%             | 2026-02-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| HOWARD MIDSTREAM ENERGY                             | HOWARD MIDSTREAM ENERGY SR UNSECURED 144A 01/27 6.75     | CUSIP: 442722AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    144000 | PA      | $140587.20     | 0.04%             | 2027-01-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| HUB INTERNATIONAL LIMITED                           | HUB INTERNATIONAL LTD 2022 TERM LOAN B                   | CUSIP: 44332EAV8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    185000 | PA      | $185144.30     | 0.05%             | 2029-11-10      | Floating      | 8.86%                 | No            |                  2 | On Loan: No      |
| HUB INTERNATIONAL LTD                               | HUB INTERNATIONAL LTD COMPANY GUAR 144A 05/26 7          | CUSIP: 44332PAD3<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |    285000 | PA      | $283874.25     | 0.08%             | 2026-05-01      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| HUB INTERNATIONAL LTD                               | HUB INTERNATIONAL LTD SR UNSECURED 144A 12/29 5.625      | CUSIP: 44332PAG6<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |    276000 | PA      | $248640.12     | 0.07%             | 2029-12-01      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: —       |
| HUNTINGTON BANCSHARES INC/OH                        | HUNTINGTON BANCSHARES INC COMMON STOCK USD.01            | CUSIP: 446150104<br>LEI: 549300XTVCVV9I7B5T19 | Long             | EC               | CORP              | US        |    500000 | NS      | $7585000.00    | 2.03%             |  |  |  | No            |                  1 | On Loan: —       |
| HUNTINGTON BANCSHARES                               | HUNTINGTON BANCSHARES JR SUBORDINA 12/99 VAR             | CUSIP: 446150AT1<br>LEI: 549300XTVCVV9I7B5T19 | Long             | DBT              | CORP              | US        |    375000 | PA      | $370035.00     | 0.10%             | 2063-01-31      | Variable      | 5.62%                 | No            |                  2 | On Loan: No      |
| ILFC E-CAPITAL TRUST II                             | ILFC E CAPITAL TRUST II LIMITD GUARA 144A 12/65 VAR      | CUSIP: 44965UAA2<br>LEI: N/A                  | Long             | SN               | CORP              | US        |    510000 | PA      | $344357.10     | 0.09%             | 2065-12-21      | Variable      | 6.54%                 | Yes           |                  2 | On Loan: No      |
| JAZZ SECURITIES DAC                                 | JAZZ SECURITIES DAC SR SECURED 144A 01/29 4.375          | CUSIP: 47216FAA5<br>LEI: 6354009DV8VV7K6KOO02 | Long             | DBT              | CORP              | IE        |    200000 | PA      | $183066.00     | 0.05%             | 2029-01-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| JETBLUE 2020-1 CLASS B                              | JETBLUE 2020 1 CLASS B PASS THRU CE 05/30 7.75           | CUSIP: 477164AB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    145603 | PA      | $143733.84     | 0.04%             | 2028-11-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| KEYCORP                                             | KEYCORP PREFERRED STOCK VAR                              | CUSIP: 493267843<br>LEI: N/A                  | Long             | EP               | CORP              | US        |      8383 | NS      | $214856.29     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| L3HARRIS TECHNOLOGIES INC                           | L3HARRIS TECHNOLOGIES INC COMMON STOCK USD1.0            | CUSIP: 502431109<br>LEI: 549300UTE50ZMDBG8A20 | Long             | EC               | CORP              | US        |     60500 | NS      | $12996610.00   | 3.48%             |  |  |  | No            |                  1 | On Loan: No      |
| LAM RESEARCH CORP                                   | LAM RESEARCH CORP COMMON STOCK USD.001                   | CUSIP: 512807108<br>LEI: 549300I4GMO6D34U1T02 | Short            | EC               | CORP              | US        |    -19100 | NS      | $-9551910.00   | -2.56%            |  |  |  | No            |                  1 | On Loan: No      |
| MARRIOTT INTERNATIONAL INC/MD                       | MARRIOTT INTERNATIONAL  CL A COMMON STOCK USD.01         | CUSIP: 571903202<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | EC               | CORP              | US        |     73000 | NS      | $12715140.00   | 3.40%             |  |  |  | No            |                  1 | On Loan: No      |
| MICROSOFT CORP                                      | MICROSOFT CORP COMMON STOCK USD.00000625                 | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     67100 | NS      | $16628051.00   | 4.45%             |  |  |  | No            |                  1 | On Loan: —       |
| MORGAN STANLEY                                      | MORGAN STANLEY COMMON STOCK USD.01                       | CUSIP: 617446448<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EC               | CORP              | US        |    140000 | NS      | $13626200.00   | 3.65%             |  |  |  | No            |                  1 | On Loan: —       |
| MORGAN STANLEY                                      | MORGAN STANLEY PREFFERD STOCK                            | CUSIP: 61762V853<br>LEI: N/A                  | Long             | EP               | CORP              | US        |      5400 | NS      | $140616.00     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY                                      | MORGAN STANLEY PREFERRED STOCK 4.25                      | CUSIP: 61762V861<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |      5850 | NS      | $116649.00     | 0.03%             |  |  |  | No            |                  1 | On Loan: —       |
| NUSTAR ENERGY LP                                    | NUSTAR ENERGY LP PREFERRED STOCK VAR                     | CUSIP: 67058H300<br>LEI: 5493003BMLTUIEG2LG44 | Long             | EP               | CORP              | US        |     24000 | NS      | $557760.00     | 0.15%             | 2063-02-28      | Variable      | 10.56%                | No            |                  1 | On Loan: No      |
| NUSTAR LOGISTICS LP                                 | NUSTAR LOGISTICS LP PREFERRED STOCK 01/43 VAR            | CUSIP: 67059T204<br>LEI: N62BF2PKP51FIIOIUN20 | Long             | EP               | CORP              | US        |     17500 | NS      | $438725.00     | 0.12%             | 2043-01-15      | Variable      | 11.58%                | No            |                  1 | On Loan: No      |
| PNC FINANCIAL SERVICES GROUP INC/THE                | PNC FINANCIAL SERVICES GROUP COMMON STOCK USD5.0         | CUSIP: 693475105<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | EC               | CORP              | US        |     65500 | NS      | $10835665.00   | 2.90%             |  |  |  | No            |                  1 | On Loan: —       |
| PNC FINANCIAL SERVICES                              | PNC FINANCIAL SERVICES JR SUBORDINA 12/99 VAR            | CUSIP: 693475BC8<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |    885000 | PA      | $754896.15     | 0.20%             | 2063-01-31      | Variable      | 3.40%                 | No            |                  2 | On Loan: No      |
| PAYCOM SOFTWARE INC                                 | PAYCOM SOFTWARE INC COMMON STOCK USD.01                  | CUSIP: 70432V102<br>LEI: 254900LSB0HNJUDC6Q18 | Long             | EC               | CORP              | US        |     16500 | NS      | $5345010.00    | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| PROSPECT CAPITAL CORP                               | PROSPECT CAPITAL CORP PREFERRED STOCK 5.35               | CUSIP: 74348T565<br>LEI: 549300FSD8T39P5Q0O47 | Long             | EP               | CORP              | US        |     19000 | NS      | $325280.00     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| SOUTHWESTERN ENERGY CO                              | SOUTHWESTERN ENERGY CO COMPANY GUAR 02/29 5.375          | CUSIP: 845467AR0<br>LEI: EFWMP121W54QV9MGOP87 | Long             | DBT              | CORP              | US        |     90000 | PA      | $84663.90      | 0.02%             | 2029-02-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| SOUTHWESTERN ENERGY CO                              | SOUTHWESTERN ENERGY CO COMPANY GUAR 03/30 5.375          | CUSIP: 845467AS8<br>LEI: EFWMP121W54QV9MGOP87 | Long             | DBT              | CORP              | US        |    140000 | PA      | $130566.80     | 0.03%             | 2030-03-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| SOUTHWESTERN ENERGY CO                              | SOUTHWESTERN ENERGY CO COMPANY GUAR 02/32 4.75           | CUSIP: 845467AT6<br>LEI: EFWMP121W54QV9MGOP87 | Long             | DBT              | CORP              | US        |     98000 | PA      | $86458.54      | 0.02%             | 2032-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| SPEEDWAY MOT/SPEEDWAY FD                            | SPEEDWAY MOT/SPEEDWAY FD SR UNSECURED 144A 11/27 4.875   | CUSIP: 84779MAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    282000 | PA      | $264910.80     | 0.07%             | 2027-11-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| SPIRIT LOYALTY KY LTD/IP                            | SPIRIT LOYALTY KY LTD/IP SR SECURED 144A 09/25 8         | CUSIP: 84859BAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    114000 | PA      | $116375.76     | 0.03%             | 2025-09-20      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| SPIRIT LOYALTY KY LTD/IP                            | SPIRIT LOYALTY KY LTD/IP SR SECURED 144A 09/25 8         | CUSIP: 84859BAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    130000 | PA      | $133096.60     | 0.04%             | 2025-09-20      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| DOCUSIGN INC                                        | DOCUSIGN INC FEB23 58 CALL                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      1250 | NC      | $425000.00     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| LAM RESEARCH CORP                                   | LAM RESEARCH CORP FEB23 475 CALL                         | CUSIP: N/A<br>LEI: 549300I4GMO6D34U1T02       | N/A              | DE               |  | US        |       -96 | NC      | $-257520.00    | -0.07%            |  |  |  | No            |                  1 | On Loan: No      |
| SPRINT LLC                                          | SPRINT LLC COMPANY GUAR 06/24 7.125                      | CUSIP: 85207UAH8<br>LEI: 549300ZTTY7CXOLJ6539 | Long             | DBT              | CORP              | US        |    165000 | PA      | $168801.60     | 0.05%             | 2024-06-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| STANDARD INDUSTRIES INC                             | STANDARD INDUSTRIES INC SR UNSECURED 144A 02/27 5        | CUSIP: 853496AC1<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |    195000 | PA      | $185924.70     | 0.05%             | 2027-02-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| RAYTHEON TECHNOLOGIES CORP                          | RAYTHEON TECHNOLOGIES CORP FEB23 100 CALL                | CUSIP: N/A<br>LEI: I07WOS4YJ0N7YRFE7309       | N/A              | DE               |  | US        |       695 | NC      | $136567.50     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR S&P METALS & MINING ETF                        | SPDR S+P METALS + MINING ETF FEB23 59 CALL               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     -1165 | NC      | $-122325.00    | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| STANLEY BLACK & DECKER I                            | STANLEY BLACK + DECKER I JR SUBORDINA 03/60 VAR          | CUSIP: 854502AM3<br>LEI: 549300DJ09SMTO561131 | Long             | DBT              | CORP              | US        |    315000 | PA      | $277240.95     | 0.07%             | 2060-03-15      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| STATE STREET CORP                                   | STATE STREET CORP JR SUBORDINA 12/99 VAR                 | CUSIP: 857477BA0<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |   1362000 | PA      | $1318334.28    | 0.35%             | 2063-01-31      | Variable      | 5.62%                 | No            |                  2 | On Loan: —       |
| STATION CASINOS LLC                                 | STATION CASINOS LLC COMPANY GUAR 144A 02/28 4.5          | CUSIP: 857691AG4<br>LEI: 5493004E7Q60TX54WL62 | Long             | DBT              | CORP              | US        |    450000 | PA      | $405504.00     | 0.11%             | 2028-02-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| STERICYCLE INC                                      | STERICYCLE INC COMPANY GUAR 144A 01/29 3.875             | CUSIP: 858912AG3<br>LEI: B8PTJH2P0AXSWSMP2136 | Long             | DBT              | CORP              | US        |    150000 | PA      | $133500.00     | 0.04%             | 2029-01-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| STL HOLDING CO LLC                                  | STL HOLDING CO LLC SR UNSECURED 144A 02/26 7.5           | CUSIP: 861036AA9<br>LEI: 984500BC2I63E7F48656 | Long             | DBT              | CORP              | US        |    145000 | PA      | $128101.70     | 0.03%             | 2026-02-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| SUNOCO LP/FINANCE CORP                              | SUNOCO LP/FINANCE CORP COMPANY GUAR 04/30 4.5            | CUSIP: 86765LAZ0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     48000 | PA      | $42843.36      | 0.01%             | 2030-04-30      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| TEVA PHARMACEUTICALS NE                             | TEVA PHARMACEUTICALS NE COMPANY GUAR 10/26 3.15          | CUSIP: 88167AAE1<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |    340000 | PA      | $305228.20     | 0.08%             | 2026-10-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| TEVA PHARMACEUTICALS NE                             | TEVA PHARMACEUTICALS NE COMPANY GUAR 01/25 7.125         | CUSIP: 88167AAN1<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $202928.00     | 0.05%             | 2025-01-31      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| ENDURANCE INTERNATIONAL                             | ENDURANCE INTERNATIONAL SR UNSECURED 144A 02/29 6        | CUSIP: 29279XAA8<br>LEI: 549300UTQC2651SB0W88 | Long             | DBT              | CORP              | US        |    230000 | PA      | $167044.40     | 0.04%             | 2029-02-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| TEVA PHARMACEUTICAL INDU                            | TEVA PHARMACEUTICAL INDU COMPANY GUAR 05/27 4.75         | CUSIP: 88167AAP6<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $186124.00     | 0.05%             | 2027-05-09      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| HUMANA INC                                          | HUMANA INC FEB23 480 PUT                                 | CUSIP: N/A<br>LEI: 529900YLDW34GJAO4J06       | N/A              | DE               |  | US        |       180 | NC      | $67500.00      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| BP PLC                                              | BP PLC FEB23 36 PUT                                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     -1930 | NC      | $-125450.00    | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| ALPHABET INC                                        | ALPHABET INC FEB23 100 PUT                               | CUSIP: N/A<br>LEI: 5493006MHB84DD0ZWV18       | N/A              | DE               |  | US        |      -350 | NC      | $-122500.00    | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| WILLIAMS SCOTSMAN INTL                              | WILLIAMS SCOTSMAN INTL SR SECURED 144A 06/25 6.125       | CUSIP: 71953LAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    202000 | PA      | $203003.94     | 0.05%             | 2025-06-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| PILGRIM'S PRIDE CORP                                | PILGRIM S PRIDE CORP COMPANY GUAR 144A 04/31 4.25        | CUSIP: 72147KAF5<br>LEI: 549300ZSLGV64ZL3HD75 | Long             | DBT              | CORP              | US        |    140000 | PA      | $121531.20     | 0.03%             | 2031-04-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| ICON LUXEMBOURG S.A.R.L.                            | ICON LUXEMBOURG SARL LUX TERM LOAN                       | CUSIP: N/A<br>LEI: 635400PUWMHSPI2DDA35       | Long             | LON              | CORP              | LU        |    125017 | PA      | $125173.65     | 0.03%             | 2028-07-01      | Floating      | 7.50%                 | No            |                  2 | On Loan: No      |
| PRA HEALTH SCIENCES INC.                            | PRA HEALTH SCIENCES, INC. US TERM LOAN                   | CUSIP: N/A<br>LEI: 549300R1HR1VWWHIAK47       | Long             | LON              | CORP              | US        |     31148 | PA      | $31187.10      | 0.01%             | 2028-07-01      | Floating      | 7.50%                 | No            |                  2 | On Loan: No      |
| PLAINS ALL AMERICAN PIPE                            | PLAINS ALL AMERICAN PIPE JR SUBORDINA 12/99 VAR          | CUSIP: 726503AE5<br>LEI: 5521FA2ITF25TVH63740 | Long             | EP               | CORP              | US        |    565000 | PA      | $511257.20     | 0.14%             | 2063-10-10      | Variable      | 8.99%                 | No            |                  2 | On Loan: No      |
| PLAYTIKA HOLDING CORP                               | PLAYTIKA HOLDING CORP COMPANY GUAR 144A 03/29 4.25       | CUSIP: 72815LAA5<br>LEI: 254900E35Z4TKA4UFG64 | Long             | DBT              | CORP              | US        |     96000 | PA      | $79828.80      | 0.02%             | 2029-03-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| MALLINCKRODT INTERNATIONAL FINANCE S.A.             | MALLINCKRODT INTERNA FIN SA 2022 USD TERM LOAN           | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | LU        |    253144 | PA      | $194934.66     | 0.05%             | 2027-09-30      | Floating      | 10.26%                | No            |                  2 | On Loan: No      |
| PREMIER ENTERTAINMENT SU                            | PREMIER ENTERTAINMENT SU COMPANY GUAR 144A 09/29 5.625   | CUSIP: 74052HAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    265000 | PA      | $193105.50     | 0.05%             | 2029-09-01      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| PRESTIGE BRANDS INC                                 | PRESTIGE BRANDS INC COMPANY GUAR 144A 04/31 3.75         | CUSIP: 74112BAM7<br>LEI: 549300JBVP4J6D42I235 | Long             | DBT              | CORP              | US        |    182000 | PA      | $154625.38     | 0.04%             | 2031-04-01      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| FORD MOTOR COMPANY                                  | FORD MOTOR COMPANY PREFERRED STOCK 06/59 6.2             | CUSIP: 345370845<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | EP               | CORP              | US        |      7685 | NS      | $191202.80     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| GLOBAL NET LEASE INC                                | GLOBAL NET LEASE INC PUBLIC USD25.0                      | CUSIP: 379378409<br>LEI: 549300NUYANCT5SU8Z65 | Long             | EC               | CORP              | US        |      6245 | NS      | $147194.65     | 0.04%             | 2049-12-31      | Fixed         | 6.88%                 | No            |                  1 | On Loan: No      |
| QVC INC                                             | QVC INC SR SECURED 08/34 5.45                            | CUSIP: 747262AW3<br>LEI: 549300WBLU5NKPX5X472 | Long             | DBT              | CORP              | US        |     95000 | PA      | $56178.25      | 0.02%             | 2034-08-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| QVC INC                                             | QVC INC SR SECURED 09/28 4.375                           | CUSIP: 747262AZ6<br>LEI: 549300WBLU5NKPX5X472 | Long             | DBT              | CORP              | US        |    111000 | PA      | $71367.45      | 0.02%             | 2028-09-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| QBE INSURANCE GROUP LTD                             | QBE INSURANCE GROUP LTD JR SUBORDINA 144A 12/99 VAR      | CUSIP: 74728GAE0<br>LEI: 549300D2FBW76FPUSG65 | Long             | DBT              | CORP              | AU        |    785000 | PA      | $774276.90     | 0.21%             | 2063-01-31      | Variable      | 5.88%                 | Yes           |                  2 | On Loan: No      |
| ROCKETMTGE CO-ISSUER INC                            | ROCKETMTGE CO ISSUER INC COMPANY GUAR 144A 03/29 3.625   | CUSIP: 74841CAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     85000 | PA      | $71826.70      | 0.02%             | 2029-03-01      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| HONEYWELL INTERNATIONAL INC                         | HONEYWELL INTERNATIONAL INC COMMON STOCK USD1.0          | CUSIP: 438516106<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | EC               | CORP              | US        |     48000 | NS      | $10007040.00   | 2.68%             |  |  |  | No            |                  1 | On Loan: —       |
| HUMANA INC                                          | HUMANA INC COMMON STOCK USD.1666666                      | CUSIP: 444859102<br>LEI: 529900YLDW34GJAO4J06 | Long             | EC               | CORP              | US        |     18000 | NS      | $9210600.00    | 2.46%             |  |  |  | No            |                  1 | On Loan: No      |
| ON SEMICONDUCTOR CORP                               | ON SEMICONDUCTOR CORP COMPANY GUAR 144A 09/28 3.875      | CUSIP: 682189AQ8<br>LEI: ZV20P4CNJVT8V1ZGJ064 | Long             | DBT              | CORP              | US        |    143000 | PA      | $130593.32     | 0.03%             | 2028-09-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| ORGANON & CO/ORG                                    | ORGANON + CO/ORG SR SECURED 144A 04/28 4.125             | CUSIP: 68622TAA9<br>LEI: 549300SH15FO4Y2G3V63 | Long             | DBT              | CORP              | US        |    200000 | PA      | $181776.00     | 0.05%             | 2028-04-30      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES                              | PNC FINANCIAL SERVICES JR SUBORDINA 12/99 VAR            | CUSIP: 693475BD6<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |    425000 | PA      | $422246.00     | 0.11%             | 2063-01-31      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| QWEST CORP                                          | QWEST CORP PREFERRED STOCK 09/56 6.5                     | CUSIP: 74913G881<br>LEI: 549300R2L4N683OO1509 | Long             | EP               | CORP              | US        |     56730 | NS      | $1168638.00    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| CAESARS ENTERTAIN INC                               | CAESARS ENTERTAIN INC SR UNSECURED 144A 10/29 4.625      | CUSIP: 12769GAA8<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |    118000 | PA      | $100898.26     | 0.03%             | 2029-10-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: —       |
| CALLON PETROLEUM CO                                 | CALLON PETROLEUM CO COMPANY GUAR 144A 06/30 7.5          | CUSIP: 13123XBF8<br>LEI: 549300EFOWPEB0WLZW21 | Long             | DBT              | CORP              | US        |    270000 | PA      | $261538.20     | 0.07%             | 2030-06-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| QURATE RETAIL INC                                   | QURATE RETAIL INC PREFERRED STOCK 03/31 8                | CUSIP: 74915M308<br>LEI: 549300PSXEKU4PHLCR04 | Long             | EP               | CORP              | US        |      1670 | NS      | $78657.00      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| RAYTHEON TECHNOLOGIES CORP                          | RAYTHEON TECHNOLOGIES CORP COMMON STOCK USD1.0           | CUSIP: N/A<br>LEI: I07WOS4YJ0N7YRFE7309       | Long             | EC               | CORP              | US        |    103000 | NS      | $10284550.00   | 2.75%             |  |  |  | No            |                  1 | On Loan: No      |
| NAVIENT CORP                                        | NAVIENT CORP SR UNSECURED 03/28 4.875                    | CUSIP: 63938CAL2<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |    220000 | PA      | $194909.00     | 0.05%             | 2028-03-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                            | CAPITAL ONE FINANCIAL CO JR SUBORDINA 12/99 VAR          | CUSIP: 14040HCF0<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    823000 | PA      | $717195.12     | 0.19%             | 2063-01-31      | Variable      | 3.95%                 | No            |                  2 | On Loan: No      |
| CARRIAGE SERVICES INC                               | CARRIAGE SERVICES INC COMPANY GUAR 144A 05/29 4.25       | CUSIP: 143905AP2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    230000 | PA      | $189451.00     | 0.05%             | 2029-05-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| CARVANA CO                                          | CARVANA CO COMPANY GUAR 144A 09/29 4.875                 | CUSIP: 146869AH5<br>LEI: 5493003WEAK2PJ5WS063 | Long             | DBT              | CORP              | US        |    145000 | PA      | $64771.50      | 0.02%             | 2029-09-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| CASTLELAKE AVIATION FIN                             | CASTLELAKE AVIATION FIN SR UNSECURED 144A 04/27 5        | CUSIP: 14856HAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |    206000 | PA      | $188700.12     | 0.05%             | 2027-04-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: —       |
| REGENERON PHARMACEUTICALS INC                       | REGENERON PHARMACEUTICALS COMMON STOCK USD.001           | CUSIP: 75886F107<br>LEI: 549300RCBFWIRX3HYQ56 | Short            | EC               | CORP              | US        |     -4700 | NS      | $-3564809.00   | -0.95%            |  |  |  | No            |                  1 | On Loan: No      |
| REINSURANCE GRP OF AMER                             | REINSURANCE GRP OF AMER PREFFERD STOCK                   | CUSIP: 759351885<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     28900 | NS      | $769896.00     | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| CITIZENS FINANCIAL GROUP                            | CITIZENS FINANCIAL GROUP JR SUBORDINA 12/99 VAR          | CUSIP: 174610BD6<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | DBT              | CORP              | US        |   1115000 | PA      | $973941.35     | 0.26%             | 2063-01-31      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| COMMSCOPE INC                                       | COMMSCOPE INC SR SECURED 144A 09/29 4.75                 | CUSIP: 203372AX5<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |    175000 | PA      | $145720.75     | 0.04%             | 2029-09-01      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| SPDR S&P 500 ETF TRUST                              | SPDR S+P 500 ETF TRUST SPDR S+P 500 ETF TRUST            | CUSIP: 78462F103<br>LEI: 549300NZAMSJ8FXPQQ63 | Short            | EC               | RF                | US        |   -459500 | NS      | $-186777560.00 | -49.97%           |  |  |  | No            |                  1 | On Loan: No      |
| COMMSCOPE TECH LLC                                  | COMMSCOPE TECH LLC COMPANY GUAR 144A 06/25 6             | CUSIP: 20337YAA5<br>LEI: M4TWC4QDOKW45N7T6Y12 | Long             | DBT              | CORP              | US        |    299000 | PA      | $283598.51     | 0.08%             | 2025-06-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| CONSOLIDATED COMMUNICATI                            | CONSOLIDATED COMMUNICATI SR SECURED 144A 10/28 6.5       | CUSIP: 20903XAF0<br>LEI: 549300WW675Y48HDVX34 | Long             | DBT              | CORP              | US        |    285000 | PA      | $232987.50     | 0.06%             | 2028-10-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| CONSTELLIUM SE                                      | CONSTELLIUM SE COMPANY GUAR 144A 04/29 3.75              | CUSIP: 21039CAB0<br>LEI: 724500KRJEMC79KAAU28 | Long             | DBT              | CORP              | FR        |    250000 | PA      | $214030.00     | 0.06%             | 2029-04-15      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: —       |
| CONTINENTAL RESOURCES                               | CONTINENTAL RESOURCES COMPANY GUAR 144A 01/31 5.75       | CUSIP: 212015AT8<br>LEI: XXRTID9RYWOZ0UPIVR53 | Long             | DBT              | CORP              | US        |     95000 | PA      | $93368.85      | 0.02%             | 2031-01-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| CONTINENTAL RESOURCES                               | CONTINENTAL RESOURCES COMPANY GUAR 144A 04/32 2.875      | CUSIP: 212015AV3<br>LEI: XXRTID9RYWOZ0UPIVR53 | Long             | DBT              | CORP              | US        |    135000 | PA      | $105993.90     | 0.03%             | 2032-04-01      | Fixed         | 2.88%                 | Yes           |                  2 | On Loan: No      |
| COREBRIDGE FINANCIAL INC                            | COREBRIDGE FINANCIAL INC JR SUBORDINA 144A 12/52 VAR     | CUSIP: 21871XAN9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    180000 | PA      | $178099.20     | 0.05%             | 2052-12-15      | Variable      | 6.88%                 | Yes           |                  2 | On Loan: No      |
| CREDIT ACCEPTANC                                    | CREDIT ACCEPTANC COMPANY GUAR 03/26 6.625                | CUSIP: 225310AM3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    475000 | PA      | $434900.50     | 0.12%             | 2026-03-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: —       |
| SKYMILES IP LTD.                                    | SKYMILES IP LTD. 2020 SKYMILES TERM LOAN B               | CUSIP: 24736CBS2<br>LEI: 2549008L7P4I8VB90936 | Long             | LON              | CORP              | US        |    180500 | PA      | $186976.34     | 0.05%             | 2027-10-20      | Floating      | 8.77%                 | No            |                  2 | On Loan: No      |
| TWILIO INC                                          | TWILIO INC COMPANY GUAR 03/31 3.875                      | CUSIP: 90138FAD4<br>LEI: 5493004W8TRGD63APX93 | Long             | DBT              | CORP              | US        |     47000 | PA      | $39013.29      | 0.01%             | 2031-03-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| COHERENT CORP                                       | COHERENT CORP COMPANY GUAR 144A 12/29 5                  | CUSIP: 902104AC2<br>LEI: 549300O5C25A0MMHHU33 | Long             | DBT              | CORP              | US        |    112000 | PA      | $102579.68     | 0.03%             | 2029-12-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| UBS GROUP AG                                        | UBS GROUP AG JR SUBORDINA 144A 12/99 4.875               | CUSIP: 902613AJ7<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    400000 | PA      | $360928.00     | 0.10%             | 2063-01-31      | Variable      | 4.88%                 | Yes           |                  2 | On Loan: No      |
| UNITED AIR 2019-2 B PTT                             | UNITED AIR 2019 2 B PTT PASS THRU CE 11/29 3.5           | CUSIP: 90932KAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     85107 | PA      | $76456.04      | 0.02%             | 2028-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| UNITED AIRLINES INC.                                | UNITED AIRLINES, INC. 2021 TERM LOAN B                   | CUSIP: 90932RAJ3<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | LON              | CORP              | US        |    245625 | PA      | $246083.09     | 0.07%             | 2028-04-21      | Floating      | 8.76%                 | No            |                  2 | On Loan: No      |
| UNITED WHOLESALE MTGE LL                            | UNITED WHOLESALE MTGE LL SR UNSECURED 144A 06/27 5.75    | CUSIP: 913229AC4<br>LEI: 549300HW662MN1WU8550 | Long             | DBT              | CORP              | US        |     90000 | PA      | $81131.40      | 0.02%             | 2027-06-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| UNITI GROUP/CSL CAPITAL                             | UNITI GROUP/CSL CAPITAL COMPANY GUAR 144A 02/29 6.5      | CUSIP: 91327BAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     90000 | PA      | $62324.10      | 0.02%             | 2029-02-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| UNIVAR SOLUTIONS USA INC                            | UNIVAR SOLUTIONS USA INC COMPANY GUAR 144A 12/27 5.125   | CUSIP: 91337CAA4<br>LEI: 5493008FTB9VZW6CVA82 | Long             | DBT              | CORP              | US        |     85000 | PA      | $82682.90      | 0.02%             | 2027-12-01      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS INC.                       | UNIVISION COMMUNICATIONS INC 2022 FIRST LIEN TERM LOAN B | CUSIP: 914908BD9<br>LEI: 549300YQDE2JSGTL8V47 | Long             | LON              | CORP              | US        |     94525 | PA      | $94643.16      | 0.03%             | 2029-06-24      | Floating      | 9.06%                 | No            |                  2 | On Loan: No      |
| VFH PARENT LLC                                      | VFH PARENT LLC 2022 TERM LOAN B                          | CUSIP: N/A<br>LEI: 549300FRO9M476YHHY64       | Long             | LON              | CORP              | US        |    257400 | PA      | $256595.63     | 0.07%             | 2029-01-13      | Floating      | 8.62%                 | No            |                  2 | On Loan: No      |
| VOC ESCROW LTD SR SECURED 144A 02/28 5              | VOC ESCROW LTD SR SECURED 144A 02/28 5                   | CUSIP: 91832VAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    280000 | PA      | $246867.60     | 0.07%             | 2028-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VECTOR GROUP LTD                                    | VECTOR GROUP LTD SR SECURED 144A 02/29 5.75              | CUSIP: 92240MBL1<br>LEI: 549300TUIF4WWN6NDN50 | Long             | DBT              | CORP              | US        |    293000 | PA      | $256005.82     | 0.07%             | 2029-02-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| VENTURE GLOBAL CALCASIEU                            | VENTURE GLOBAL CALCASIEU SR SECURED 144A 08/29 3.875     | CUSIP: 92328MAA1<br>LEI: 549300GKHS6RS20NLH85 | Long             | DBT              | CORP              | US        |     45000 | PA      | $40185.00      | 0.01%             | 2029-08-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| VENTURE GLOBAL CALCASIEU                            | VENTURE GLOBAL CALCASIEU SR SECURED 144A 08/31 4.125     | CUSIP: 92328MAB9<br>LEI: 549300GKHS6RS20NLH85 | Long             | DBT              | CORP              | US        |     45000 | PA      | $39996.45      | 0.01%             | 2031-08-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| VERTIV GROUP CORPORATION                            | VERTIV GROUP CORPORATION SR SECURED 144A 11/28 4.125     | CUSIP: 92535UAB0<br>LEI: 549300ZT8RQ5VK10E643 | Long             | DBT              | CORP              | US        |    187000 | PA      | $163151.89     | 0.04%             | 2028-11-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| CHESAPEAKE ENERGY CORP                              | CHESAPEAKE ENERGY CORP COMPANY GUAR 144A 04/29 6.75      | CUSIP: 92735LAA0<br>LEI: 254900PNIMG4CPJH6R25 | Long             | DBT              | CORP              | US        |    139000 | PA      | $137280.57     | 0.04%             | 2029-04-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| VISTA OUTDOOR INC                                   | VISTA OUTDOOR INC COMPANY GUAR 144A 03/29 4.5            | CUSIP: 928377AC4<br>LEI: 549300QI2D33ESTJLN81 | Long             | DBT              | CORP              | US        |    220000 | PA      | $178376.00     | 0.05%             | 2029-03-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| WEATHERFORD INTERNATIONA                            | WEATHERFORD INTERNATIONA COMPANY GUAR 144A 04/30 8.625   | CUSIP: 947075AU1<br>LEI: 549300A2JKMG5PGOGF82 | Long             | DBT              | CORP              | BM        |    145000 | PA      | $146335.45     | 0.04%             | 2030-04-30      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| LSF11 A5 HOLDCO LLC                                 | LSF11 A5 HOLDCO LLC 2023 INCREMENTAL TERM LOAN B         | CUSIP: N/A<br>LEI: 254900FPK7P5WNA66Y10       | Long             | LON              | CORP              | US        |     95000 | PA      | $92862.50      | 0.02%             | 2028-10-15      | Floating      | 9.34%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                               | WELLS FARGO + COMPANY JR SUBORDINA 12/99 VAR             | CUSIP: 949746TD3<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   3170000 | PA      | $2923532.50    | 0.78%             | 2063-01-31      | Variable      | 3.90%                 | No            |                  2 | On Loan: No      |
| WESCO DISTRIBUTION INC                              | WESCO DISTRIBUTION INC COMPANY GUAR 144A 06/25 7.125     | CUSIP: 95081QAN4<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |     93000 | PA      | $94544.73      | 0.03%             | 2025-06-15      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| XHR LP                                              | XHR LP SR SECURED 144A 08/25 6.375                       | CUSIP: 98372MAA3<br>LEI: 549300M88BPT83ZL2164 | Long             | DBT              | CORP              | US        |    208000 | PA      | $206415.04     | 0.06%             | 2025-08-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| ZI TECH LLC/ZI FIN CORP                             | ZI TECH LLC/ZI FIN CORP COMPANY GUAR 144A 02/29 3.875    | CUSIP: 98981BAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    220000 | PA      | $189981.00     | 0.05%             | 2029-02-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| AIR CANADA                                          | AIR CANADA 2021 TERM LOAN B                              | CUSIP: N/A<br>LEI: 4B4HI3CGXMBDC0G6BM51       | Long             | LON              | CORP              | CA        |    119400 | PA      | $119719.40     | 0.03%             | 2028-08-11      | Floating      | 8.34%                 | No            |                  2 | On Loan: No      |
| BAUSCH HEALTH COMPANIES INC.                        | BAUSCH HEALTH COMPANIES, INC. 2022 TERM LOAN B           | CUSIP: N/A<br>LEI: B3BS7ACMDUWISF18KY76       | Long             | LON              | CORP              | CA        |     43875 | PA      | $33955.96      | 0.01%             | 2027-02-01      | Floating      | 10.66%                | No            |                  2 | On Loan: No      |
| JAZZ FINANCING LUX S.A.R.L.                         | JAZZ FINANCING LUX SARL USD TERM LOAN                    | CUSIP: N/A<br>LEI: 635400WUEO2NSG5OIU34       | Long             | LON              | CORP              | LU        |    199851 | PA      | $199881.79     | 0.05%             | 2028-05-05      | Floating      | 8.71%                 | No            |                  2 | On Loan: No      |
| CAMELOT U.S. ACQUISITION LLC                        | CAMELOT U.S. ACQUISITION 1 CO TERM LOAN B                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    223176 | PA      | $223147.69     | 0.06%             | 2026-10-31      | Floating      | 8.23%                 | No            |                  2 | On Loan: No      |
| CAMELOT U.S. ACQUISITION LLC                        | CAMELOT US ACQUISITION 1 CO. 2020 INCREMENTAL TERM LOAN  | CUSIP: N/A<br>LEI: 549300U6VBJHQP2SFL81       | Long             | LON              | CORP              | US        |     60531 | PA      | $60558.98      | 0.02%             | 2026-10-31      | Floating      | 7.98%                 | No            |                  2 | On Loan: No      |
| VISA INC                                            | VISA INC CLASS A SHARES COMMON STOCK USD.0001            | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |     68000 | NS      | $15654280.00   | 4.19%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | GUITAR CENTER INC                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |      3615 | NS      | $450067.50     | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| WELLS FARGO & CO                                    | WELLS FARGO + CO COMMON STOCK USD1.666                   | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               | CORP              | US        |    158000 | NS      | $7405460.00    | 1.98%             |  |  |  | No            |                  1 | On Loan: —       |
| WESCO INTERNATIONAL INC                             | WESCO INTERNATIONAL INC PUBLIC VAR                       | CUSIP: 95082P303<br>LEI: 529900TXOGREY3WNJ434 | Long             | EP               | CORP              | US        |      7275 | NS      | $197880.00     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| SPANISH BROADCASTING SYS                            | SPANISH BROADCASTING SYS SR SECURED 144A 03/26 9.75      | CUSIP: 846425AQ9<br>LEI: 5493005DKYB1X4C9LH64 | Long             | DBT              | CORP              | US        |    100000 | PA      | $59125.00      | 0.02%             | 2026-03-01      | Fixed         | 9.75%                 | Yes           |                  2 | On Loan: No      |
| WESTERN ALLIANCE BANCORP                            | WESTERN ALLIANCE BANCORP PREFERRED STOCK VAR             | CUSIP: 957638406<br>LEI: 5493003VJXZ5JXT9S762 | Long             | EP               | CORP              | US        |     18602 | NS      | $399384.94     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| APPLE INC                                           | APPLE INC FEB23 130 PUT                                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       900 | NC      | $66150.00      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITED AIRLINES HOLDINGS INC                        | UNITED AIRLINES HOLDINGS INC FEB23 41 CALL               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      1465 | NC      | $1193975.00    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| ALPHABET INC                                        | ALPHABET INC FEB23 92 CALL                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      1780 | NC      | $1299400.00    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| ALPHABET INC                                        | ALPHABET INC FEB23 100 CALL                              | CUSIP: N/A<br>LEI: 5493006MHB84DD0ZWV18       | N/A              | DE               |  | US        |      -350 | NC      | $-82075.00     | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| SYSCO CORP                                          | SYSCO CORP FEB23 80 CALL                                 | CUSIP: N/A<br>LEI: 5RGWIFLMGH3YS7KWI652       | N/A              | DE               |  | US        |      1305 | NC      | $19575.00      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRST REPUBLIC BANK/CA                              | FIRST REPUBLIC BANK/CA FEB23 140 CALL                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -240 | NC      | $-114000.00    | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| HUMANA INC                                          | HUMANA INC MAY23 400 PUT                                 | CUSIP: N/A<br>LEI: 529900YLDW34GJAO4J06       | N/A              | DE               |  | US        |      -360 | NC      | $-147600.00    | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| SHERWIN-WILLIAMS CO/THE                             | SHERWIN-WILLIAMS CO/THE MAR23 200 PUT                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -345 | NC      | $-37950.00     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| FIRST SOLAR INC                                     | FIRST SOLAR INC MAR23 200 CALL                           | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -170 | NC      | $-81175.00     | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| STMICROELECTRONICS NV                               | STMICROELECTRONICS NV FEB23 46 CALL                      | CUSIP: N/A<br>LEI: 213800Z8NOHIKRI42W10       | N/A              | DE               |  | US        |      -375 | NC      | $-87187.50     | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| VISA INC                                            | VISA INC MAR23 240 CALL                                  | CUSIP: N/A<br>LEI: 549300JZ4OKEHW3DPJ59       | N/A              | DE               |  | US        |      -340 | NC      | $-95200.00     | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| ALPHABET INC                                        | ALPHABET INC FEB23 95 PUT                                | CUSIP: N/A<br>LEI: 5493006MHB84DD0ZWV18       | N/A              | DE               |  | US        |      1780 | NC      | $237630.00     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| NATWEST GROUP PLC                                   | NATWEST GROUP PLC COMMON STOCK GBP1.0769                 | CUSIP: N/A<br>LEI: 2138005O9XJIJN4JPN90       | Long             | EC               | CORP              | GB        |   2875000 | NS      | $10968287.57   | 2.93%             |  |  |  | No            |                  2 | On Loan: No      |
| BROOKFIELD PROPERTY PART                            | BROOKFIELD PROPERTY PART PREFERRED STOCK 6.375           | CUSIP: EP0575654<br>LEI: 5493004J5Z0TZW83NU62 | Long             | EP               | CORP              | BM        |     12800 | NS      | $254336.00     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| BROOKFIELD PROPERTY PART                            | BROOKFIELD PROPERTY PART PREFERRED STOCK 5.75            | CUSIP: EP0585729<br>LEI: 5493004J5Z0TZW83NU62 | Long             | EP               | CORP              | BM        |     30350 | NS      | $553584.00     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| BROOKFIELD RENEWABLE PAR                            | BROOKFIELD RENEWABLE PAR PREFERRED STOCK 5.25            | CUSIP: EP0586206<br>LEI: VA8DFMRI2GY8Y7V79H93 | Long             | EP               | CORP              | BM        |     14975 | NS      | $314325.25     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| LINDE PLC                                           | LINDE PLC COMMON STOCK EUR.001                           | CUSIP: N/A<br>LEI: 8945002PAZHZLBGKGF02       | Long             | EC               | CORP              | IE        |     22000 | NS      | $7280680.00    | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                 | INTELSAT EMERGENCE SA COMMON STOCK                       | CUSIP: N/A<br>LEI: 549300YV2L21F4K80V46       | Long             | EC               | CORP              | LU        |      1377 | NS      | $32015.25      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| AERCAP HOLDINGS NV                                  | AERCAP HOLDINGS NV COMMON STOCK EUR.01                   | CUSIP: N/A<br>LEI: 549300SZYINBBLJQU475       | Long             | EC               | CORP              | NL        |    173500 | NS      | $10966935.00   | 2.93%             |  |  |  | No            |                  1 | On Loan: No      |
| BURFORD CAPITAL GLBL FIN                            | BURFORD CAPITAL GLBL FIN COMPANY GUAR 144A 04/30 6.875   | CUSIP: 12116LAC3<br>LEI: 549300JVAOO67CSCH406 | Long             | DBT              | CORP              | US        |    200000 | PA      | $183030.00     | 0.05%             | 2030-04-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-03-31

**Name of Applicant:** Calamos Long/Short Equity & Dynamic Income Trust

**Signature:** Stephen Atkins

**Name of Signer:** Stephen Atkins

**Title:** Treasurer