# EDGAR Filing Document

**Accession Number:** 0000002768
**File Stem:** 0001752724-23-033195
**Filing Date:** 2023-2
**Character Count:** 214052
**Document Hash:** 5961856b67fdc22c31ec5ef28a432c33
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-033195.hdr.sgml**: 20230222

**ACCESSION NUMBER**: 0001752724-23-033195

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230222

**DATE AS OF CHANGE**: 20230222

**PERIOD START**: 20230930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Franklin High Income Trust
- **CENTRAL INDEX KEY:** 0000002768
- **IRS NUMBER:** 941693697
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0531

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-01608
- **FILM NUMBER:** 23651911

**BUSINESS ADDRESS:**
- **STREET 1:** ONE FRANKLIN PARKWAY
- **CITY:** SAN MATEO
- **STATE:** CA
- **ZIP:** 94403-1906
- **BUSINESS PHONE:** 650-312-2000

**MAIL ADDRESS:**
- **STREET 1:** ONE FRANKLIN PARKWAY
- **CITY:** SAN MATEO
- **STATE:** CA
- **ZIP:** 94403-1906

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FRANKLIN HIGH INCOME TRUST
- **DATE OF NAME CHANGE:** 19961001

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AGE HIGH INCOME FUND INC
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AGE FUND INC
- **DATE OF NAME CHANGE:** 19810128

## Series and Classes Contracts Data

### FRANKLIN HIGH INCOME FUND (Series ID: S000006840)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000018490 | Class A1      | FHAIX           |
| C000018492 | Class C       | FCHIX           |
| C000018493 | Advisor Class | FVHIX           |
| C000018494 | Class R       | FHIRX           |
| C000128780 | Class R6      | FHRRX           |
| C000199701 | Class A       | FHQRX           |

## Nport-Ex

# Schedule of Investments
(unaudited)

| Franklin High Income Fund | 2 |
| --- | --- |
| Notes to Schedule of Investments | 14 |

FRANKLIN HIGH INCOME TRUST

Schedule of Investments (unaudited), December 31, 2022

| Not FDIC Insured | May Lose Value | No Bank Guarantee |
| --- | --- | --- |

JUB-QIPN

1

# Franklin High Income Fund

|  | Country | Shares | Value |
| --- | --- | --- | --- |
| Common Stocks 0.6% |  |  |  |
| Oil, Gas & Consumable Fuels 0.6% |  |  |  |
| Knipps Energy Corp. | United States | 8,016 | $77,482 |
| Bach Permian Holdings, Inc. | United States | 690,410 | 12,902,037 |
| California Resources Corp. | United States | 1,435 | 62,002 |
| Chesapeake Energy Corp. | United States | 17,102 | 1,613,916 |
| ***Nine Point Energy Holdings, Inc. | United States | 46,695,277 | - |

2

Quarterly Schedule of Investments | See Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS (UNAUDITED)

Franklin High Income Fund (continued)

|  | Country | Principal Amount | Value |
| --- | --- | --- | --- |
| Total Common Stock (Cost $65,289,020) |  |  | 14,655,447 |
| Corporate Bonds (Continued) |  |  |  |
| Auto Components (continued) |  |  |  |
| Brent Ross Merger Sub 2, Inc., Senior Note, 144A, 6.25%, 2X1/29. | United States | 7,000,000 | $4,807,600 |
| Rights 0.5% |  |  | 42,748,999 |
| Independent Power and Renewable Electricity Producers 0.5% |  |  |  |
| Sales Expense (Cont. 3/09/23) | United States | 37,820,000 | 12,414,600 |

FRANKLIN HIGH INCOME TRUST

See Notes to Schedule of Investments 1 Quarterly Schedule of Investments 3

SCHEDULE OF INVESTMENTS (UNAUDITED)

Franklin High Income Fund (continued)

| Total Rights (Cast $) | United States | Principal Amount | 12,418,666 |
| --- | --- | --- | --- |
| Corporate Bonds (continued) |  | Warrants | 12,418,666 |
| United States | United States | 11,930,000,000 | 10,724,788,000 |
| United States | United States | 5,033 | 17,852,895 |
| Canada | Canada | 11,500,000 | 9,944,872 |

FRANKLIN HIGH INCOME TRUST

4

Quarterly Schedule of Investments. See Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS (UNAUDITED)

# Franklin High Income Fund (continued)

SCHEDULE OF INVESTMENTS (UNAUDITED)

Franklin High Income Fund (continued)

| Corporate Bonds & Other | US$ | Amount | US$ |
| --- | --- | --- | --- |
| Corporate Bonds & Other | United States | 11,700,000 | 8,392,978 |
| Corporate Bonds & Other | United States | 2,320,000,000 | 2,320,000,000 |
| Corporate Bonds & Other | Germany | 433,158 | 42,927 |
| Corporate Bonds & Other | United States | 9,400,000 | 12,384,000,000 |
| Corporate Bonds & Other | United States | 12,000,000 | 42,927,000 |
| Corporate Bonds & Other | United Kingdom | 10,272,000,000 | 10,272,000,000 |
| Corporate Bonds & Other | United States | 9,600,000 | 9,600,000 |
| Corporate Bonds & Other | United States | 9,600,000,000 | 9,600,000,000 |

FRANKLIN HIGH INCOME TRUST

6

Quarterly Schedule of Investments. See Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS (UNAUDITED)

# Franklin High Income Fund (continued)

| Article | Description | Principal |
| --- | --- | --- |
| Article 1 | Interest | 12,000,000.00 |
| Article 2 | Interest | 12,000,000.00 |
| Article 3 | Interest | 12,000,000.00 |
| Article 4 | Interest | 12,000,000.00 |
| Article 5 | Interest | 12,000,000.00 |
| Article 6 | Interest | 12,000,000.00 |
| Article 7 | Interest | 12,000,000.00 |
| Article 8 | Interest | 12,000,000.00 |
| Article 9 | Interest | 12,000,000.00 |
| Article 10 | Interest | 12,000,000.00 |

FRANKLIN HIGH INCOME TRUST

See Notes to Schedule of Investments 1 Quarterly Schedule of Investments 7

SCHEDULE OF INVESTMENTS (UNAUDITED)

Franklin High Income Fund (continued)

| Senior Securities Bank, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA | United States | 1,000,000,000 | 1,000,000,000 |
| --- | --- | --- | --- |
| Senior Securities Bank, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA | United States | 1,000,000,000 | 1,000,000,000 |
| Senior Securities Bank, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA, BAA | United States | 1,000,000,000 | 1,000,000,000 |

FRANKLIN HIGH INCOME TRUST

8

Quarterly Schedule of Investments. See Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS (UNAUDITED)

# Franklin High Income Fund (continued)

| 1. First National Bank of New York, NY, 1984 | United States | 16,100,000,000 | 16,100,000,000 |
| --- | --- | --- | --- |
| 2. First National Bank of New York, NY, 1985 | United States | 16,100,000,000 | 16,100,000,000 |
| 3. First National Bank of New York, NY, 1986 | United States | 16,100,000,000 | 16,100,000,000 |
| 4. First National Bank of New York, NY, 1987 | United States | 16,100,000,000 | 16,100,000,000 |
| 5. First National Bank of New York, NY, 1988 | United States | 2,600,000,000 | 68,800,000,000 |
| 6. First National Bank of New York, NY, 1989 | United States | 4,900,000,000 | 4,900,000,000 |
| 7. First National Bank of New York, NY, 1990 | United States | 14,400,000 | 14,400,000 |
| 8. First National Bank of New York, NY, 1991 | United States | 2,500,000,000 | 2,500,000,000 |
| 9. First National Bank of New York, NY, 1992 | United States | 2,500,000,000 | 2,500,000,000 |
| 10. First National Bank of New York, NY, 1993 | United States | 2,500,000,000 | 2,500,000,000 |
| 11. First National Bank of New York, NY, 1994 | United States | 2,500,000,000 | 2,500,000,000 |
| 12. First National Bank of New York, NY, 1995 | United States | 2,500,000,000 | 2,500,000,000 |
| 13. First National Bank of New York, NY, 1996 | United States | 2,500,000,000 | 2,500,000,000 |

FRANKLIN HIGH INCOME TRUST

See Notes to Schedule of Investments. 1 Quarterly Schedule of Investments 8

SCHEDULE OF INVESTMENTS (UNAUDITED)

Franklin High Income Fund (continued)[{"box_2d": [26, 80, 531, 145], "label": "table", "caption": "

| Bank of America, Inc. | 1,000,000 | 11,000,000 |
| --- | --- | --- |
| Bank of America, Inc. | 1,000,000 | 11,000,000 |
| Bank of America, Inc. | 1,000,000 | 11,000,000 |
| Bank of America, Inc. | 1,000,000 | 11,000,000 |
| Bank of America, Inc. | 2,100,000 | 18,100,000 |
| Bank of America, Inc. | 5,600,000 | 5,100,000 |
| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| Bank of America, Inc. | 1,000,000 | 1,000,000 |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |
| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| Bank of America, Inc. | 1,000,000 | 1,000,000 |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |
| Bank of America, Inc. | 1,000,000 | 1,000,000 |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| Bank of America, Inc. | 1,000,000 | 1,000,000 |
| --- | --- | --- |

<table><tr><td>Bank of America, Inc.</td><td>1,000,000</td><td>1,000,000</td></tr></tabletable><table><tr><td>Bank of America, Inc.</td><td>1,000,000</td><td>1,000,000</td></tr></tabletabletable><tr><td>Bank of America, Inc.</td><td>1,000,000</td><td>1,000,000</td></tr></tabletabletable><tr><td>Bank of America, Inc.</td><td>1,000,000</td><td>1,000,000</td></tr></tabletabletable><tr><td>Bank of America, Inc.</td><td>1,000,000</td><td>1,000,000</td></tr></tabletable><table><tr><td>Bank of America, Inc.</td><td>1,000,000</td><td>1,000,000</td></tr></tabletable><table><tr><td>Bank of America, Inc.</td><td>1,000,000</td><td>1,000,000</td></tr></tabletable><table><tr><td>Bank of America, Inc.</td><td>1,000,000</td><td>1,000,000</td></tr></tabletable><table><tr><td>Bank of America, Inc.</td><td>1,000,000</td><td>1,000,000</td></tr></tabletable><tr><td>Bank of America, Inc.</td><td>1,000,000</td><td>1,000,000</td></tr></tabletable><tr><td>Bank of America, Inc.</td><td>1,000,000</td><td>1,000,000</td></tr></tabletable><tr><td>Bank of America, Inc.</td><td>1,000,000</td><td>1,000,000</td></tr></tabletable><tr><td>Bank of America, Inc.</td><td>1,000,000</td><td>1,000,000</td></tr></tabletable><tr><td>Bank of America, Inc.</td><td>1,000,000</td><td>1,000,000</td></tr></tabletable><tr><td>Bank of America, Inc.</td><td>1,000,000</td><td>1,000,000</td></tr></tabletable><tr><td>Bank of America, Inc.</td><td>1,000,000</td><td>1,000,000</td></tr></tabletable><tr><td>Bank of America, Inc.</td><td>1,000,000</td><td>1,000,000</td></tr></tabletable><tr><td>Bank of America, Inc.</td><td>1,000,000</td><td>1,000,000</td></tr></tabletable><tr><td>Bank of America, Inc.</td><td>1,000,000</td><td>1,000,000</td></tr></tabletable><tr><td>Bank of America, Inc.</td><td>1,000,000</td><td>1,000,000</td></tr></tabletabletable><tr><td>Bank of America, Inc.</td><td>1,000,000</td><td>1,000,000</td></tr></tabletabletable><tr><td>Bank of America, Inc.</td><td>1,000,000</td><td>1,000,000</td></tr></tabletabletable><tr><td>Bank of America, Inc.</td><td>1,000,000</td><td>1,000,000</td></tr></tabletabletable><tr><td>Bank of America, Inc.</td><td>1,000,000</td><td>1,000,000</td></tr></tabletabletable><tr><td>Bank of America, Inc.</td><td>1,000,000</td><td>1,000,000</td></tr></tabletabletable><tr><td>Bank of America, Inc.</td><td>1,000,000</td><td>1,000,000</td></tr></tabletabletable><tr><td>Bank of America, Inc.</td><td>1,000,000</td><td>1,000,000</td></tr></tabletabletable><tr><td>Bank of America, Inc.</td><td

SCHEDULE OF INVESTMENTS (UNAUDITED)

# Franklin High Income Fund (continued)

| 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. | 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. | 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. |
| --- | --- | --- |

| 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. | 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. | 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. |
| --- | --- | --- |

| 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. | 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. | 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. |
| --- | --- | --- |

| 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. | 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. | 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. |
| --- | --- | --- |

| 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. | 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. | 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. |
| --- | --- | --- |

| 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. | 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. | 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. |
| --- | --- | --- |

| 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. | 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. | 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. |
| --- | --- | --- |

| 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. | 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. | 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. |
| --- | --- | --- |

| 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. | 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. | 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. |
| --- | --- | --- |

| 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. | 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. | 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. |
| --- | --- | --- |

| 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. | 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. | 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. |
| --- | --- | --- |

| 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. | 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. | 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. |
| --- | --- | --- |

| 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. | 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. | 1. 1. 1. 1. 1. 1. 1. 1. 1. |
| --- | --- | --- |

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| 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. | 1. 1. 1. |
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| 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. | 1. 1. 1. |
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| 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. | 1. 1. 1. |
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| 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. | 1. 1. 1. |
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| 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. | 1. 1. 1. |
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| 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. | 1. 1. 1. |
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| --- | --- |

</table>

| 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. 1. | 1. 1. 1. |
| --- | --- |

</table>

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| --- | --- |

</table>

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| --- | --- |

</table>

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| --- | --- |

</table></table>

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| --- | --- |

</table></table>

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| --- | --- |

</table></table>

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| --- | --- |

</table>[{"box, [411, [411, 166, [411, 175, TRUST 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1"}]

FRANKLIN HIGH INCOME TRUST

![img-0.jpeg](img-0.jpeg)

See Notes to Schedule of Investments. 1 Quarterly Schedule of Investments 11

SCHEDULE OF INVESTMENTS (UNAUDITED)

Franklin High Income Fund (continued)

| 1. The following table provides the information in English: (1) The information is provided by the United States, which is not to be provided by the United States, which is not to be provided by the United States, which is not to be provided by the United States, which is not to be provided by the United States, which is not to be provided by the United States, which is not to be provided by the United States, which is not to be provided by the United States, which is not to be provided by the United States, which is not to be provided by the United States, which is not to be |
| --- |

FRANKLIN HIGH INCOME TRUST

12

Quarterly Schedule of Investments. See Notes to Schedule of Investments.

SCHEDULE OF INVESTMENTS (UNAUDITED)

# Franklin High Income Fund (continued)

| High Income Fund (continued) | United States | 6,100,000,000 | 6,100,000,000 |
| --- | --- | --- | --- |
| High Income Fund (continued) | United States | 15,250,000,000 | 15,250,000,000 |
| High Income Fund (continued) | United States | 12,500,000,000 | 19,250,000,000 |
| High Income Fund (continued) | United States | 7,400,000,000 | 7,400,000,000 |
| High Income Fund (continued) | United States | 6,400,000,000 | 6,400,000,000 |
| High Income Fund (continued) | United States | 12,500,000,000 | 12,500,000,000 |
| High Income Fund (continued) | United States | 4,500,000,000 | 4,500,000,000 |
| High Income Fund (continued) | United States | 12,500,000,000 | 12,500,000,000 |
| Total (continued) | United States | 22,200,000,000 | 22,200,000,000 |

# FRANKLIN HIGH INCOME TRUST

See Notes to Schedule of Investments. 1 Quarterly Schedule of Investments 33

See (H) 1000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000
Fram. 1000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000
man. 1000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000
acc. 1000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000
S46. 1000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000
S46. 1000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000
U.S. 1000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000
Crimpside Energy Corp.

FRANKLIN HIGH INCOME TRUST

# Notes to Schedule of Investments (unaudited)

# 1. Organization

14 | Quarterly Schedule of Investments

NOTES TO SCHEDULE OF INVESTMENTS (UNAUDITED)

2. Funds that are not available to the Bank of America, including the Bank of America's Stockholders' Equity, are subject to the terms and conditions of the Fund's Investment Plan, including the Bank of America's Stockholders' Equity, and the Bank of America's Stockholders' Equity, respectively. The Fund's Investment Plan is subject to the terms and conditions of the Fund's Investment Plan, including the Bank of America's Stockholders' Equity, and the Bank of America's Stockholders' Equity, respectively. The Fund's Investment Plan is subject to the terms and conditions of the Fund's Investment Plan, including the Bank of America's Stockholders' Equity, and the Bank of America's Stockholders' Equity, respectively.

FRANKLIN HIGH INCOME TRUST

# 3. Restricted Securities

Quarterly Schedule of Investments 35

NOTES TO SCHEDULE OF INVESTMENTS (UNAUDITED)

“Enact Open Stock with Open Stock Company, Inc. Senior Note, 1444, 3%,
and has been issued and issued by the Board of Directors of the Company and its subsidiaries. The Board of Directors of the Company and its subsidiaries is not a member of the Board of Directors of the Company and its subsidiaries. The Board of Directors of the Company and its subsidiaries is not a member of the Board of Directors of the Company and its subsidiaries. The Board of Directors of the Company and its subsidiaries is not a member of the Board of Directors of the Company and its subsidiaries. The Board of Directors of the Company and its subsidiaries is not a member of the Board of Directors of the Company and its subsidiaries.

FRANKLIN HIGH INCOME TRUST

# 6. Fair Value Measurements

18 | Quarterly Schedule of Investments

NOTES TO SCHEDULE OF INVESTMENTS (UNAUDITED)

The Form 1043 of Financial Accounting Act, 1933, is amended by the 2,946,000,000 2,699,700,627
* Less: A certain amount of interest in the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company

FRANKLIN HIGH INCOME TRUST

# 6. Fair Value Measurements

---

Quarterly Schedule of Investments 8 27

---

NOTES TO SCHEDULE OF INVESTMENTS (UNAUDITED)

| Total Senior Floating Rate Interests (Cost $70,712,807) | 63,752,815 |
| --- | --- |
| Accounts Receivable (Net) for the period 31, 2022, in relation to the Fund's current financial position. | 63,752,815 |
| Investments in the Fund's current financial position. | 63,752,815 |
| Investments in the Fund's current financial position. | 63,752,815 |
| Investments in the Fund's current financial position. | 63,752,815 |
| Investments in the Fund's current financial position. | 63,752,815 |

FRANKLIN HIGH INCOME TRUST

# **Abbreviations**

annual shareholder report.

28 | Quarterly Schedule of Investments

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or

The conduct took shown represents the sole inclusive of any steps or floors, if applicable, as defined at present and
Investment Management. The investment management was valued at the closing hour. Investment Management for any steps is a request for the
Investment Management. The investment management is based on investment management. The investment management is based on investment management. The investment management is based on investment management. The investment management is based on investment management. The investment management is based on investment management. The investment management is based on investment management. The investment management is based on investment management. The investment management is based on investment management. The investment management is based on investment management. The investment management is based on investment management. The investment management is based on investment management. The investment management is based on investment management

future of the investment are discounted to calculate fair value. Dover's 1986 can be applied due to the net 1986 tax on the basis of the investment. Due to the net 1986 tax on the basis of the investment, the investment is based on the disposition of the investment. Due to the net 1986 tax on the basis of the investment, the investment is based on the disposition of the investment. Due to the net 1986 tax on the basis of the investment, the investment is based on the disposition of the investment. Due to the net 1986 tax on the basis of the investment, the investment is based on the disposition of the investment. Due to the net 1986 tax on the basis of the investment, the investment is based on the disposition of the investment.

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |
| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |
| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

| Commercial Services & Services | 101,281,863 | 24,451,292 | - | - | 24,466,363 |
| --- | --- | --- | --- | --- | --- |

</table>

| Accounts Payable Statements determined in loan-to-value at December 31, 2013 | 26,212,677 | - | 26,212,677 |
| --- | --- | --- | --- |
| Electrical Equipment |  |  |  |
| Electronic Equipment Instruments & |  |  |  |
| A recommendation in which Level 3 inputs are used in determining fair value is presented when there are significant losses |  |  |  |
| Investments |  |  |  |
| Investments | 78,556,379 | - | 78,556,379 |
| Entertainment | 41,064,655 | - | 41,064,655 |
| Equity Real Estate Investment Trusts (REITs) | 77,762,097 | - | 77,762,097 |
| Food Products | 19,173,479 | - | 19,173,479 |
| Health Care Equipment & Supplies | 24,375,881 | - | 24,375,881 |
| Health Care Providers & Services | 118,000,948 | - | 118,000,948 |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Franklin High Income Trust

- **b. Investment Company Act file number:** 811-01608

- **c. CIK number of Registrant:** 0000002768

- **d. LEI of Registrant:** 549300PR23B957L1CF10

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

  - **Street Address 1:** One Franklin Parkway

  - **City:** San Mateo

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 94403-1906

  - **Telephone number:** 650-312-2000

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

- **a. Name of Series:** Franklin High Income Fund

- **b. EDGAR series identifier (if any):** S000006840

- **c. LEI of Series:** Z1846KCY9PS334NJ7L60

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

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

- **b. Date as of which information is reported:** 2022-12-31

**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:** $2524415581.14

**Total Liabilities:** $10012004.03

**Net Assets:** $2514403577.11

**Delayed Delivery Securities:** $1423913.04

**Cash Not Reported:** $3861166.26

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0.00000000 | **1-Year:** -3768.07000000 | **5-Year:** -38665.17000000 | **10-Year:** -27669.90000000 | **30-Year:** 0.00000000

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

- **3-Month:** -1310.79000000 | **1-Year:** -68510.34000000 | **5-Year:** -555955.19000000 | **10-Year:** -205786.30000000 | **30-Year:** -28292.61000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000018494 | 3.03%                | 2.42%                | -0.15%               |
| Class ID C000128780 | 3.16%                | 2.53%                | -0.72%               |
| Class ID C000018493 | 2.49%                | 2.52%                | -0.11%               |
| Class ID C000018490 | 3.12%                | 2.50%                | -0.74%               |
| Class ID C000199701 | 3.15%                | 2.52%                | -0.75%               |
| Class ID C000018492 | 3.03%                | 2.42%                | -0.17%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-17196290.30            | $79468781.70                               |
| Month 2  | $-10511770.11            | $59749319.01                               |
| Month 3  | $10433246.44             | $-19738400.73                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Royal Caribbean Cruises Ltd.                                                      | Royal Caribbean Cruises Ltd.                                                      | CUSIP: 780153BJ0<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |  11200000 | PA      | $9436000.00   | 0.38%             | 2026-08-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Digicel Group Holdings Ltd.                                                       | Digicel Group Holdings Ltd.                                                       | CUSIP: 25381YAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    451194 | PA      | $43427.42     | 0.00%             | 2023-01-17      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| DISH DBS Corp.                                                                    | DISH DBS Corp.                                                                    | CUSIP: 25470XAW5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   9700000 | PA      | $9033550.73   | 0.36%             | 2024-11-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| McAfee Corp.                                                                      | McAfee Corp., Term Loan B-1                                                       | CUSIP: 57906HAD9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  10374000 | PA      | $9684855.18   | 0.39%             | 2029-03-01      | Variable      | 7.97%                 | No            |                  2 | On Loan: No      |
| Standard Industries, Inc.                                                         | Standard Industries, Inc.                                                         | CUSIP: 853496AG2<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |   6800000 | PA      | $5555665.08   | 0.22%             | 2030-07-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Nabors Industries Ltd.                                                            | Nabors Industries Ltd.                                                            | CUSIP: 629571AA8<br>LEI: 5493008TXYN3II3PU369 | Long             | DBT              | CORP              | BM        |   9900000 | PA      | $9345391.61   | 0.37%             | 2026-01-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Owens-Brockway Glass Container, Inc.                                              | Owens-Brockway Glass Container, Inc.                                              | CUSIP: 69073TAR4<br>LEI: V2UQUCDZJ9WY98W8QU33 | Long             | DBT              | CORP              | US        |   2680000 | PA      | $2671765.06   | 0.11%             | 2023-08-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Trivium Packaging Finance BV                                                      | Trivium Packaging Finance BV                                                      | CUSIP: 89686QAA4<br>LEI: 724500GMZWW3PVYET548 | Long             | DBT              | CORP              | NL        |   5600000 | PA      | $5146879.42   | 0.20%             | 2026-08-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CCO Holdings LLC / CCO Holdings Capital Corp.                                     | CCO Holdings LLC / CCO Holdings Capital Corp.                                     | CUSIP: 1248EPBX0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2730585.00   | 0.11%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chesapeake Energy Corp.                                                           | Chesapeake Energy Corp.                                                           | CUSIP: 92735LAA0<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | DBT              | CORP              | US        |  13300000 | PA      | $12966835.00  | 0.52%             | 2029-04-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Sinclair Television Group, Inc.                                                   | Sinclair Television Group, Inc.                                                   | CUSIP: 829259AY6<br>LEI: 549300CQGEN0CH65UD62 | Long             | DBT              | CORP              | US        |  13500000 | PA      | $9461677.50   | 0.38%             | 2030-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Cablevision Lightpath LLC                                                         | Cablevision Lightpath LLC                                                         | CUSIP: 12687GAA7<br>LEI: 5493002ZVBLRLGES1R71 | Long             | DBT              | CORP              | US        |   8500000 | PA      | $7046190.35   | 0.28%             | 2027-09-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Ardagh Packaging Finance plc / Ardagh Holdings USA, Inc.                          | Ardagh Packaging Finance plc / Ardagh Holdings USA, Inc.                          | CUSIP: 03969AAR1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   8100000 | PA      | $6069509.66   | 0.24%             | 2027-08-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Celanese US Holdings LLC                                                          | Celanese US Holdings LLC                                                          | CUSIP: 15089QAN4<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |  14000000 | PA      | $13632839.08  | 0.54%             | 2029-07-15      | Fixed         | 6.33%                 | No            |                  2 | On Loan: No      |
| Hilcorp Energy I LP / Hilcorp Finance Co.                                         | Hilcorp Energy I LP / Hilcorp Finance Co.                                         | CUSIP: 431318AZ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4300000 | PA      | $3716858.94   | 0.15%             | 2032-04-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| MGIC Investment Corp.                                                             | MGIC Investment Corp.                                                             | CUSIP: 552848AG8<br>LEI: 254900S8483WM4M98R28 | Long             | DBT              | CORP              | US        |   8400000 | PA      | $7759626.42   | 0.31%             | 2028-08-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Vistra Operations Co. LLC                                                         | Vistra Operations Co. LLC                                                         | CUSIP: 92840VAB8<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |  21300000 | PA      | $20253371.25  | 0.81%             | 2027-02-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| CNO Financial Group, Inc.                                                         | CNO Financial Group, Inc.                                                         | CUSIP: 12621EAL7<br>LEI: 11XPYHB76MPM4Y4P2897 | Long             | DBT              | CORP              | US        |   2100000 | PA      | $2005203.94   | 0.08%             | 2029-05-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Necessity Retail REIT, Inc. (The) / American Finance Operating Partner LP         | Necessity Retail REIT, Inc. (The) / American Finance Operating Partner LP         | CUSIP: 02608AAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  10200000 | PA      | $7511994.00   | 0.30%             | 2028-09-30      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Real Hero Merger Sub 2, Inc.                                                      | Real Hero Merger Sub 2, Inc.                                                      | CUSIP: 75602BAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   7000000 | PA      | $4807600.00   | 0.19%             | 2029-02-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| athenahealth Group, Inc.                                                          | athenahealth Group, Inc., Term Loan                                               | CUSIP: 04686RAC7<br>LEI: 254900AA3KZN4Q7A5Z33 | Long             | LON              | CORP              | US        |    474638 | PA      | $429717.97    | 0.02%             | 2029-02-15      | Variable      | 7.82%                 | No            |                  2 | On Loan: No      |
| Centene Corp.                                                                     | Centene Corp.                                                                     | CUSIP: 15135BAZ4<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |   1400000 | PA      | $1102815.00   | 0.04%             | 2031-08-01      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| Lithia Motors, Inc.                                                               | Lithia Motors, Inc.                                                               | CUSIP: 536797AE3<br>LEI: SE8N1EZEHPZQBCBVKD53 | Long             | DBT              | CORP              | US        |   8600000 | PA      | $7771472.90   | 0.31%             | 2027-12-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Allison Transmission, Inc.                                                        | Allison Transmission, Inc.                                                        | CUSIP: 019736AG2<br>LEI: MWKQ3I0U1GXP2YDSZW75 | Long             | DBT              | CORP              | US        |   5400000 | PA      | $4448250.00   | 0.18%             | 2031-01-30      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Manitowoc Co., Inc. (The)                                                         | Manitowoc Co., Inc. (The)                                                         | CUSIP: 563571AL2<br>LEI: 2RTSLGQ89VMY18RHX631 | Long             | DBT              | CORP              | US        |  17100000 | PA      | $16097822.01  | 0.64%             | 2026-04-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| HAT Holdings I LLC / HAT Holdings II LLC                                          | HAT Holdings I LLC / HAT Holdings II LLC                                          | CUSIP: 418751AB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4900000 | PA      | $4753000.00   | 0.19%             | 2025-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Gartner, Inc.                                                                     | Gartner, Inc.                                                                     | CUSIP: 366651AE7<br>LEI: PP55B5R38BFB8O8HH686 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $5181014.10   | 0.21%             | 2030-10-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Hughes Satellite Systems Corp.                                                    | Hughes Satellite Systems Corp.                                                    | CUSIP: 444454AF9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2950000 | PA      | $2756745.50   | 0.11%             | 2026-08-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| LCPR Senior Secured Financing DAC                                                 | LCPR Senior Secured Financing DAC                                                 | CUSIP: 50201DAA1<br>LEI: 549300LE5FM8IKMXSP90 | Long             | DBT              | CORP              | IE        |   8990000 | PA      | $8426506.80   | 0.34%             | 2027-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| 1375209 BC Ltd.                                                                   | 1375209 BC Ltd.                                                                   | CUSIP: 68251PAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   6021000 | PA      | $5893053.75   | 0.23%             | 2028-01-30      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| T-Mobile USA, Inc.                                                                | T-Mobile USA, Inc.                                                                | CUSIP: 87264ABW4<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4328622.10   | 0.17%             | 2031-04-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Presidio Holdings, Inc.                                                           | Presidio Holdings, Inc.                                                           | CUSIP: 74101XAF7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3700000 | PA      | $3436042.00   | 0.14%             | 2028-02-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| OneMain Finance Corp.                                                             | OneMain Finance Corp.                                                             | CUSIP: 85172FAQ2<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |  10400000 | PA      | $9594832.00   | 0.38%             | 2028-01-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Diamond BC BV                                                                     | Diamond BC BV                                                                     | CUSIP: 25257DAA6<br>LEI: 549300SWLHWJF3D4N658 | Long             | DBT              | CORP              | NL        |   4100000 | PA      | $3295580.00   | 0.13%             | 2029-10-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Boyne USA, Inc.                                                                   | Boyne USA, Inc.                                                                   | CUSIP: 103557AC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   8600000 | PA      | $7622345.98   | 0.30%             | 2029-05-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Bausch Health Cos., Inc.                                                          | Bausch Health Cos., Inc.                                                          | CUSIP: 071734AQ0<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |  10692000 | PA      | $8391558.68   | 0.33%             | 2028-09-30      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| Sunoco LP / Sunoco Finance Corp.                                                  | Sunoco LP / Sunoco Finance Corp.                                                  | CUSIP: 86765LAQ0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  12600000 | PA      | $12428874.49  | 0.49%             | 2027-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Cogent Communications Group, Inc.                                                 | Cogent Communications Group, Inc.                                                 | CUSIP: 19240CAC7<br>LEI: 549300KFWFYF8Q1U0Y26 | Long             | DBT              | CORP              | US        |   7200000 | PA      | $6549750.00   | 0.26%             | 2026-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Clear Channel Outdoor Holdings, Inc.                                              | Clear Channel Outdoor Holdings, Inc.                                              | CUSIP: 18453HAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5700000 | PA      | $4951305.00   | 0.20%             | 2027-08-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Prime Security Services Borrower LLC / Prime Finance, Inc.                        | Prime Security Services Borrower LLC / Prime Finance, Inc.                        | CUSIP: 74166MAF3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  11100000 | PA      | $9598831.56   | 0.38%             | 2027-08-31      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Netflix, Inc.                                                                     | Netflix, Inc.                                                                     | CUSIP: 64110LAN6<br>LEI: 549300Y7VHGU0I7CE873 | Long             | DBT              | CORP              | US        |  10200000 | PA      | $9835044.00   | 0.39%             | 2026-11-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Chesapeake Energy Corp.                                                           | Chesapeake Energy Corp.                                                           | CUSIP: 165167735<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | EC               | CORP              | US        |     17102 | NS      | $1613915.74   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Goodyear Tire & Rubber Co. (The)                                                  | Goodyear Tire & Rubber Co. (The)                                                  | CUSIP: 382550BH3<br>LEI: 5493002BI0S2ZQUY3437 | Long             | DBT              | CORP              | US        |   9100000 | PA      | $9365104.02   | 0.37%             | 2025-05-31      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Kobe US Midco 2, Inc.                                                             | Kobe US Midco 2, Inc.                                                             | CUSIP: 499894AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4800000 | PA      | $3384000.00   | 0.13%             | 2026-11-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| Dornoch Debt Merger Sub, Inc.                                                     | Dornoch Debt Merger Sub, Inc.                                                     | CUSIP: 25830JAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  16500000 | PA      | $11596301.15  | 0.46%             | 2029-10-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Match Group Holdings II LLC                                                       | Match Group Holdings II LLC                                                       | CUSIP: 57667JAA0<br>LEI: 5493003RFFE030RC9167 | Long             | DBT              | CORP              | US        |   3300000 | PA      | $2534941.17   | 0.10%             | 2031-10-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Centene Corp.                                                                     | Centene Corp.                                                                     | CUSIP: 15135BAR2<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |  12700000 | PA      | $11938866.27  | 0.47%             | 2027-12-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Howard Hughes Corp. (The)                                                         | Howard Hughes Corp. (The)                                                         | CUSIP: 44267DAD9<br>LEI: 549300BVHY25JZC1KI49 | Long             | DBT              | CORP              | US        |   9200000 | PA      | $8303000.00   | 0.33%             | 2028-08-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Goodyear Tire & Rubber Co. (The)                                                  | Goodyear Tire & Rubber Co. (The)                                                  | CUSIP: 382550BN0<br>LEI: 5493002BI0S2ZQUY3437 | Long             | DBT              | CORP              | US        |  15000000 | PA      | $12531744.00  | 0.50%             | 2029-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CommScope Technologies LLC                                                        | CommScope Technologies LLC                                                        | CUSIP: 20337YAA5<br>LEI: M4TWC4QDOKW45N7T6Y12 | Long             | DBT              | CORP              | US        |   1635000 | PA      | $1491218.10   | 0.06%             | 2025-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CCO Holdings LLC / CCO Holdings Capital Corp.                                     | CCO Holdings LLC / CCO Holdings Capital Corp.                                     | CUSIP: 1248EPBR3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2400000 | PA      | $2327353.25   | 0.09%             | 2026-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CommScope, Inc.                                                                   | CommScope, Inc.                                                                   | CUSIP: 20338QAD5<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2312375.00   | 0.09%             | 2026-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Condor Merger Sub, Inc.                                                           | Condor Merger Sub, Inc.                                                           | CUSIP: 579063AB4<br>LEI: 254900SAGUYT3MBUU161 | Long             | DBT              | CORP              | US        |   9400000 | PA      | $7574669.46   | 0.30%             | 2030-02-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Murray Energy Corp.                                                               | Murray Energy Corp.                                                               | CUSIP: 62704PAM5<br>LEI: 549300WM5IIFYHZYTT63 | Long             | DBT              | CORP              | US        |  18564500 | PA      | $0.00         | 0.00%             | 2024-04-15      | Fixed         | 12.00%                | No            |                  3 | On Loan: No      |
| M/I Homes, Inc.                                                                   | M/I Homes, Inc.                                                                   | CUSIP: 55305BAV3<br>LEI: 5299005M71FH9CCSFB69 | Long             | DBT              | CORP              | US        |  12600000 | PA      | $10189788.46  | 0.41%             | 2030-02-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Forestar Group, Inc.                                                              | Forestar Group, Inc.                                                              | CUSIP: 346232AF8<br>LEI: 549300BC2UB0GHV60V70 | Long             | DBT              | CORP              | US        |  11000000 | PA      | $9659215.39   | 0.38%             | 2026-05-15      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| Sealed Air Corp.                                                                  | Sealed Air Corp.                                                                  | CUSIP: 81211KAY6<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | DBT              | CORP              | US        |  13200000 | PA      | $11996911.48  | 0.48%             | 2027-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Delta Air Lines, Inc. / SkyMiles IP Ltd.                                          | Delta Air Lines, Inc. / SkyMiles IP Ltd.                                          | CUSIP: 830867AB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  10200000 | PA      | $9603397.21   | 0.38%             | 2028-10-20      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Venture Global Calcasieu Pass LLC                                                 | Venture Global Calcasieu Pass LLC                                                 | CUSIP: 92328MAA1<br>LEI: 549300GKHS6RS20NLH85 | Long             | DBT              | CORP              | US        |   5900000 | PA      | $5172854.50   | 0.21%             | 2029-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| CHS/Community Health Systems, Inc.                                                | CHS/Community Health Systems, Inc.                                                | CUSIP: 12543DBG4<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |   5900000 | PA      | $5069752.00   | 0.20%             | 2027-03-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| CHS/Community Health Systems, Inc.                                                | CHS/Community Health Systems, Inc.                                                | CUSIP: 12543DBC3<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4562500.00   | 0.18%             | 2026-03-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Calpine Corp.                                                                     | Calpine Corp.                                                                     | CUSIP: 131347CN4<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |  12900000 | PA      | $11536828.62  | 0.46%             | 2028-03-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| ASP Unifrax Holdings, Inc.                                                        | ASP Unifrax Holdings, Inc.                                                        | CUSIP: 90473LAA0<br>LEI: 549300RRU6BWJLD0YT71 | Long             | DBT              | CORP              | US        |   5500000 | PA      | $4432954.35   | 0.18%             | 2028-09-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Radian Group, Inc.                                                                | Radian Group, Inc.                                                                | CUSIP: 750236AX9<br>LEI: 54930005OUP720S5U385 | Long             | DBT              | CORP              | US        |  14900000 | PA      | $14723131.04  | 0.59%             | 2025-03-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Vertiv Group Corp.                                                                | Vertiv Group Corp.                                                                | CUSIP: 92535UAB0<br>LEI: 549300ZT8RQ5VK10E643 | Long             | DBT              | CORP              | US        |  16400000 | PA      | $13959352.00  | 0.56%             | 2028-11-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Bath & Body Works, Inc.                                                           | Bath & Body Works, Inc.                                                           | CUSIP: 501797AW4<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | DBT              | CORP              | US        |   8700000 | PA      | $8178983.10   | 0.33%             | 2030-10-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| CHS/Community Health Systems, Inc.                                                | CHS/Community Health Systems, Inc.                                                | CUSIP: 12543DBM1<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |   6500000 | PA      | $4912843.98   | 0.20%             | 2030-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Sunoco LP / Sunoco Finance Corp.                                                  | Sunoco LP / Sunoco Finance Corp.                                                  | CUSIP: 86765LAT4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4600000 | PA      | $4030267.00   | 0.16%             | 2029-05-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CHS/Community Health Systems, Inc.                                                | CHS/Community Health Systems, Inc.                                                | CUSIP: 12543DBD1<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1088031.49   | 0.04%             | 2027-12-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Tenet Healthcare Corp.                                                            | Tenet Healthcare Corp.                                                            | CUSIP: 88033GDL1<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |   8500000 | PA      | $7379232.50   | 0.29%             | 2029-06-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Motion Bondco DAC                                                                 | Motion Bondco DAC                                                                 | CUSIP: 61978XAA5<br>LEI: 635400KFD3IETNQLA755 | Long             | DBT              | CORP              | IE        |   4400000 | PA      | $3794748.89   | 0.15%             | 2027-11-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Charles River Laboratories International, Inc.                                    | Charles River Laboratories International, Inc.                                    | CUSIP: 159864AG2<br>LEI: 549300BSQ0R4UZ5KX287 | Long             | DBT              | CORP              | US        |   2400000 | PA      | $2126028.00   | 0.08%             | 2029-03-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Medline Borrower LP                                                               | Medline Borrower LP                                                               | CUSIP: 62482BAA0<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |   8200000 | PA      | $6623509.00   | 0.26%             | 2029-04-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| CCO Holdings LLC / CCO Holdings Capital Corp.                                     | CCO Holdings LLC / CCO Holdings Capital Corp.                                     | CUSIP: 1248EPCK7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3400000 | PA      | $2734960.00   | 0.11%             | 2031-02-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Iliad Holding SASU                                                                | Iliad Holding SASU                                                                | CUSIP: 449691AC8<br>LEI: 9695009PXA7OI9NXN582 | Long             | DBT              | CORP              | FR        |  10400000 | PA      | $9413248.52   | 0.37%             | 2028-10-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Altice France Holding SA                                                          | Altice France Holding SA                                                          | CUSIP: 02156TAB0<br>LEI: 5299000JVHXKJPOE6H40 | Long             | DBT              | CORP              | LU        |  22400000 | PA      | $17128160.00  | 0.68%             | 2027-05-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| Michaels Cos., Inc. (The)                                                         | Michaels Cos., Inc. (The)                                                         | CUSIP: 55916AAB0<br>LEI: 549300H9LWMBP7HYLR98 | Long             | DBT              | CORP              | US        |  15600000 | PA      | $10451193.17  | 0.42%             | 2029-05-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| OI European Group BV                                                              | OI European Group BV                                                              | CUSIP: 67777LAD5<br>LEI: 72450053F5WRDY8CDZ66 | Long             | DBT              | CORP              | NL        |   9800000 | PA      | $8596021.00   | 0.34%             | 2030-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Altice France Holding SA                                                          | Altice France Holding SA                                                          | CUSIP: 02156TAA2<br>LEI: 5299000JVHXKJPOE6H40 | Long             | DBT              | CORP              | LU        |   8100000 | PA      | $4798777.93   | 0.19%             | 2028-02-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Apollo Commercial Real Estate Finance, Inc.                                       | Apollo Commercial Real Estate Finance, Inc.                                       | CUSIP: 03762UAD7<br>LEI: 549300E0AN7M2AQHSY29 | Long             | DBT              | CORP              | US        |  20800000 | PA      | $16675152.00  | 0.66%             | 2029-06-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| B&G Foods, Inc.                                                                   | B&G Foods, Inc.                                                                   | CUSIP: 05508WAB1<br>LEI: 549300TRW1LZMDJZAQ78 | Long             | DBT              | CORP              | US        |   6800000 | PA      | $5225583.49   | 0.21%             | 2027-09-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Gartner, Inc.                                                                     | Gartner, Inc.                                                                     | CUSIP: 366651AG2<br>LEI: PP55B5R38BFB8O8HH686 | Long             | DBT              | CORP              | US        |   4400000 | PA      | $3871670.00   | 0.15%             | 2029-06-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| CHS/Community Health Systems, Inc.                                                | CHS/Community Health Systems, Inc.                                                | CUSIP: 12543DBL3<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |   6800000 | PA      | $3379961.35   | 0.13%             | 2030-04-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| 24 Hour Fitness Worldwide, Inc.                                                   | 24 Hour Fitness Worldwide, Inc.                                                   | CUSIP: 90132BAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  23000000 | PA      | $0.00         | 0.00%             | 2022-06-01      | Fixed         | 8.00%                 | No            |                  3 | On Loan: No      |
| Element Solutions, Inc.                                                           | Element Solutions, Inc.                                                           | CUSIP: 28618MAA4<br>LEI: 549300FLGN6P5CU20J91 | Long             | DBT              | CORP              | US        |   5400000 | PA      | $4598640.00   | 0.18%             | 2028-09-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Royal Caribbean Cruises Ltd.                                                      | Royal Caribbean Cruises Ltd.                                                      | CUSIP: 780153BK7<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |   5800000 | PA      | $4703515.57   | 0.19%             | 2027-07-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| MPT Operating Partnership LP / MPT Finance Corp.                                  | MPT Operating Partnership LP / MPT Finance Corp.                                  | CUSIP: 55342UAM6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  16200000 | PA      | $11138692.16  | 0.44%             | 2031-03-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Kinetik Holdings LP                                                               | Kinetik Holdings LP                                                               | CUSIP: 49461MAA8<br>LEI: 549300RD6AJIMYC0HY12 | Long             | DBT              | CORP              | US        |  12200000 | PA      | $11457422.60  | 0.46%             | 2030-06-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CSC Holdings LLC                                                                  | CSC Holdings LLC                                                                  | CUSIP: 126307AH0<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |  21000000 | PA      | $19582500.00  | 0.78%             | 2024-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Mauser Packaging Solutions Holding Co.                                            | Mauser Packaging Solutions Holding Co.                                            | CUSIP: 12429TAE4<br>LEI: 549300DNGHXL0OMHW304 | Long             | DBT              | CORP              | US        |  30000000 | PA      | $27803301.30  | 1.11%             | 2025-04-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Viper Energy Partners LP                                                          | Viper Energy Partners LP                                                          | CUSIP: 92763MAA3<br>LEI: 5299009LINL232255G03 | Long             | DBT              | CORP              | US        |   8200000 | PA      | $7800089.85   | 0.31%             | 2027-11-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Teva Pharmaceutical Finance Netherlands III BV                                    | Teva Pharmaceutical Finance Netherlands III BV                                    | CUSIP: 88167AAP6<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |  10600000 | PA      | $9594587.24   | 0.38%             | 2027-05-09      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Calumet Specialty Products Partners LP / Calumet Finance Corp.                    | Calumet Specialty Products Partners LP / Calumet Finance Corp.                    | CUSIP: 131477AV3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  17000000 | PA      | $15916250.00  | 0.63%             | 2027-01-15      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| United Airlines, Inc.                                                             | United Airlines, Inc.                                                             | CUSIP: 90932LAH0<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | DBT              | CORP              | US        |   5500000 | PA      | $4798478.85   | 0.19%             | 2029-04-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Harbour Energy plc                                                                | Harbour Energy plc                                                                | CUSIP: 411618AB7<br>LEI: 213800YPC42DYBKVPF97 | Long             | DBT              | CORP              | GB        |  14800000 | PA      | $13290918.00  | 0.53%             | 2026-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Novelis Corp.                                                                     | Novelis Corp.                                                                     | CUSIP: 670001AE6<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |   7700000 | PA      | $6843914.00   | 0.27%             | 2030-01-30      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Victoria's Secret & Co.                                                           | Victoria's Secret & Co.                                                           | CUSIP: 926400AA0<br>LEI: 5493006T3O70U3UWVF17 | Long             | DBT              | CORP              | US        |   5300000 | PA      | $4167920.00   | 0.17%             | 2029-07-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| EnLink Midstream LLC                                                              | EnLink Midstream LLC                                                              | CUSIP: 29336TAC4<br>LEI: 54930000GY1H533OBE23 | Long             | DBT              | CORP              | US        |   4400000 | PA      | $4197108.39   | 0.17%             | 2028-01-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Birch Permian Holdings, Inc.                                                      | Birch Permian Holdings, Inc.                                                      | CUSIP: 09075C104<br>LEI: 5493008GXCEAUIZGCH60 | Long             | EC               | CORP              | US        |     78499 | NS      | $1466950.06   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Banijay Entertainment SASU                                                        | Banijay Entertainment SASU                                                        | CUSIP: 060335AA4<br>LEI: 969500CE0IE2EZ5VBG13 | Long             | DBT              | CORP              | FR        |  21900000 | PA      | $20730102.00  | 0.82%             | 2025-03-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Advanced Drainage Systems, Inc.                                                   | Advanced Drainage Systems, Inc.                                                   | CUSIP: 00790RAB0<br>LEI: 6QQTOZ5MF5DHM7K92I60 | Long             | DBT              | CORP              | US        |   9100000 | PA      | $8854391.00   | 0.35%             | 2030-06-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| EnLink Midstream LLC                                                              | EnLink Midstream LLC                                                              | CUSIP: 29336TAD2<br>LEI: 54930000GY1H533OBE23 | Long             | DBT              | CORP              | US        |  12200000 | PA      | $12090810.00  | 0.48%             | 2030-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                                              | JPMorgan Chase & Co., Series R                                                    | CUSIP: 48126HAA8<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |  15000000 | PA      | $14709000.00  | 0.58%             | 2023-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: —       |
| Wynn Resorts Finance LLC / Wynn Resorts Capital Corp.                             | Wynn Resorts Finance LLC / Wynn Resorts Capital Corp.                             | CUSIP: 983133AB5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  15200000 | PA      | $15139753.28  | 0.60%             | 2025-04-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Primo Water Holdings, Inc.                                                        | Primo Water Holdings, Inc.                                                        | CUSIP: 74168LAA4<br>LEI: 9845008F9A5F2E1D4832 | Long             | DBT              | CORP              | US        |  11500000 | PA      | $9944872.37   | 0.40%             | 2029-04-30      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| DT Midstream, Inc.                                                                | DT Midstream, Inc.                                                                | CUSIP: 23345MAB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3900000 | PA      | $3276975.00   | 0.13%             | 2031-06-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Owens-Brockway Glass Container, Inc.                                              | Owens-Brockway Glass Container, Inc.                                              | CUSIP: 69073TAT0<br>LEI: V2UQUCDZJ9WY98W8QU33 | Long             | DBT              | CORP              | US        |   4961000 | PA      | $4820888.26   | 0.19%             | 2027-05-13      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Clearway Energy Operating LLC                                                     | Clearway Energy Operating LLC                                                     | CUSIP: 18539UAC9<br>LEI: 549300Z3NFMM54NWBB87 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $9244956.70   | 0.37%             | 2028-03-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ASP Unifrax Holdings, Inc.                                                        | ASP Unifrax Holdings, Inc.                                                        | CUSIP: 90473LAC6<br>LEI: 549300RRU6BWJLD0YT71 | Long             | DBT              | CORP              | US        |   4200000 | PA      | $2671200.00   | 0.11%             | 2029-09-30      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Virgin Media Secured Finance plc                                                  | Virgin Media Secured Finance plc                                                  | CUSIP: 92769XAR6<br>LEI: 213800X3RLP4NOTPY579 | Long             | DBT              | CORP              | GB        |  18500000 | PA      | $15488200.00  | 0.62%             | 2030-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Venture Global Calcasieu Pass LLC                                                 | Venture Global Calcasieu Pass LLC                                                 | CUSIP: 92328MAB9<br>LEI: 549300GKHS6RS20NLH85 | Long             | DBT              | CORP              | US        |   5900000 | PA      | $5037125.00   | 0.20%             | 2031-08-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Sirius XM Radio, Inc.                                                             | Sirius XM Radio, Inc.                                                             | CUSIP: 82967NBJ6<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |  12600000 | PA      | $10989972.00  | 0.44%             | 2028-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Weatherford International Ltd.                                                    | Weatherford International Ltd.                                                    | CUSIP: 947075AT4<br>LEI: 549300A2JKMG5PGOGF82 | Long             | DBT              | CORP              | BM        |   8600000 | PA      | $8442964.00   | 0.34%             | 2028-09-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| athenahealth Group, Inc.                                                          | athenahealth Group, Inc., Term Loan                                               | CUSIP: 04686RAB9<br>LEI: 254900AA3KZN4Q7A5Z33 | Long             | LON              | CORP              | US        |  11145442 | PA      | $10090637.41  | 0.40%             | 2029-02-15      | Variable      | 7.82%                 | No            |                  2 | On Loan: No      |
| VM Consolidated, Inc.                                                             | VM Consolidated, Inc.                                                             | CUSIP: 91835HAA0<br>LEI: 549300GCTGJLEBXJUK89 | Long             | DBT              | CORP              | US        |   8800000 | PA      | $7762128.00   | 0.31%             | 2029-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Carnival Corp.                                                                    | Carnival Corp.                                                                    | CUSIP: 143658BL5<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |   7300000 | PA      | $5798862.46   | 0.23%             | 2026-03-01      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| Tenet Healthcare Corp.                                                            | Tenet Healthcare Corp.                                                            | CUSIP: 88033GCY4<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4738363.70   | 0.19%             | 2026-01-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Party City Holdings, Inc.                                                         | Party City Holdings, Inc.                                                         | CUSIP: N/A<br>LEI: 5493005PYM1JS6EZN307       | Long             | DBT              | CORP              | US        |   1851810 | PA      | $504618.23    | 0.02%             | 2025-07-15      | Floating      | 5.75%                 | No            |                  2 | On Loan: No      |
| Endeavor Energy Resources LP / EER Finance, Inc.                                  | Endeavor Energy Resources LP / EER Finance, Inc.                                  | CUSIP: 29260FAE0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  19100000 | PA      | $18319765.00  | 0.73%             | 2028-01-30      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Clear Channel Outdoor Holdings, Inc.                                              | Clear Channel Outdoor Holdings, Inc., Term Loan B                                 | CUSIP: 18452RAD7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2946701 | PA      | $2690705.92   | 0.11%             | 2026-08-21      | Variable      | 7.91%                 | No            |                  2 | On Loan: No      |
| Calpine Corp.                                                                     | Calpine Corp.                                                                     | CUSIP: 131347CM6<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |  12200000 | PA      | $10909035.04  | 0.43%             | 2028-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Anagram International, Inc. / Anagram Holdings LLC                                | Anagram International, Inc. / Anagram Holdings LLC                                | CUSIP: 03254TAC7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1706906 | PA      | $1135092.49   | 0.05%             | 2026-08-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| B&G Foods, Inc.                                                                   | B&G Foods, Inc.                                                                   | CUSIP: 05508RAE6<br>LEI: 549300TRW1LZMDJZAQ78 | Long             | DBT              | CORP              | US        |   9100000 | PA      | $7993373.48   | 0.32%             | 2025-04-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| FMG Resources August 2006 Pty. Ltd.                                               | FMG Resources August 2006 Pty. Ltd.                                               | CUSIP: 30251GBC0<br>LEI: 549300EFD6S2NFE9D745 | Long             | DBT              | CORP              | AU        |   9500000 | PA      | $7919280.66   | 0.31%             | 2031-04-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Williams Scotsman International, Inc.                                             | Williams Scotsman International, Inc.                                             | CUSIP: 96950GAE2<br>LEI: 549300V3TCHCBOBTGH07 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4520500.00   | 0.18%             | 2028-08-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Bausch Health Cos., Inc.                                                          | Bausch Health Cos., Inc.                                                          | CUSIP: 071734AR8<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |   2114000 | PA      | $1265538.72   | 0.05%             | 2030-10-15      | Fixed         | 14.00%                | No            |                  2 | On Loan: No      |
| Chesapeake Energy Corp.                                                           | Chesapeake Energy Corp., Escrow Account                                           | CUSIP: 165167DG9<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4744650.75   | 0.19%             | 2029-02-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Station Casinos LLC                                                               | Station Casinos LLC                                                               | CUSIP: 857691AG4<br>LEI: 5493004E7Q60TX54WL62 | Long             | DBT              | CORP              | US        |   9800000 | PA      | $8535131.25   | 0.34%             | 2028-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| United Wholesale Mortgage LLC                                                     | United Wholesale Mortgage LLC                                                     | CUSIP: 91153LAA5<br>LEI: 549300HW662MN1WU8550 | Long             | DBT              | CORP              | US        |   7100000 | PA      | $6404767.15   | 0.25%             | 2025-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CSI Compressco LP / CSI Compressco Finance, Inc.                                  | CSI Compressco LP / CSI Compressco Finance, Inc.                                  | CUSIP: 12652HAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3001000 | PA      | $2810676.34   | 0.11%             | 2025-04-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CHS/Community Health Systems, Inc.                                                | CHS/Community Health Systems, Inc.                                                | CUSIP: 12543DBH2<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $5026680.00   | 0.20%             | 2029-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Atlas LuxCo 4 SARL / Allied Universal Holdco LLC / Allied Universal Finance Corp. | Allied Universal Holdco LLC / Allied Universal Finance Corp. / Atlas LuxCo 4 SARL | CUSIP: 049362AA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2600000 | PA      | $2111311.93   | 0.08%             | 2028-06-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Jaguar Land Rover Automotive plc                                                  | Jaguar Land Rover Automotive plc                                                  | CUSIP: 47010BAM6<br>LEI: 529900L73GEWN1O5NH84 | Long             | DBT              | CORP              | GB        |  25000000 | PA      | $17737652.50  | 0.71%             | 2029-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Directv Financing LLC / Directv Financing Co-Obligor, Inc.                        | Directv Financing LLC / Directv Financing Co-Obligor, Inc.                        | CUSIP: 25461LAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  10400000 | PA      | $9324224.00   | 0.37%             | 2027-08-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| International Game Technology plc                                                 | International Game Technology plc                                                 | CUSIP: 460599AF0<br>LEI: 549300UQ6KHRCZDRGZ76 | Long             | DBT              | CORP              | GB        |   3800000 | PA      | $3549026.72   | 0.14%             | 2026-04-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| TTM Technologies, Inc.                                                            | TTM Technologies, Inc.                                                            | CUSIP: 87305RAK5<br>LEI: 549300SC4BDOIS008048 | Long             | DBT              | CORP              | US        |   9300000 | PA      | $7988607.00   | 0.32%             | 2029-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PRA Group, Inc.                                                                   | PRA Group, Inc.                                                                   | CUSIP: 69354NAD8<br>LEI: 549300Q5HW3JSSB86K27 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4132350.00   | 0.16%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Cornerstone Building Brands, Inc.                                                 | Cornerstone Building Brands, Inc.                                                 | CUSIP: 21925DAA7<br>LEI: 549300IW41QEWQ6T0H29 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1411740.00   | 0.06%             | 2029-01-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Darling Ingredients, Inc.                                                         | Darling Ingredients, Inc.                                                         | CUSIP: 237266AJ0<br>LEI: L1N0SPPKS7EXZYUMZ898 | Long             | DBT              | CORP              | US        |   3200000 | PA      | $3132320.00   | 0.12%             | 2030-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Diamond Sports Group LLC                                                          | Diamond Sports Group LLC, First Lien Term Loan                                    | CUSIP: 25277BAE8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2644257 | PA      | $2512599.58   | 0.10%             | 2026-05-25      | Variable      | 12.32%                | No            |                  2 | On Loan: No      |
| DKT Finance ApS                                                                   | DKT Finance ApS                                                                   | CUSIP: 255882AA0<br>LEI: 529900CPZ2SMDPG5RV48 | Long             | DBT              | CORP              | DK        |  10400000 | PA      | $10309000.00  | 0.41%             | 2023-06-17      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| American Airlines Inc/AAdvantage Loyalty IP Ltd.                                  | American Airlines Inc/AAdvantage Loyalty IP Ltd.                                  | CUSIP: 00253XAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  17000000 | PA      | $16377825.50  | 0.65%             | 2026-04-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Grand Canyon University                                                           | Grand Canyon University                                                           | CUSIP: 38528UAE6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  14300000 | PA      | $13489047.00  | 0.54%             | 2028-10-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Kontoor Brands, Inc.                                                              | Kontoor Brands, Inc.                                                              | CUSIP: 50050NAA1<br>LEI: 549300M0CPXV65RFF271 | Long             | DBT              | CORP              | US        |   6300000 | PA      | $5157211.06   | 0.21%             | 2029-11-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Papa John's International, Inc.                                                   | Papa John's International, Inc.                                                   | CUSIP: 698813AA0<br>LEI: HZYLD3DK5XOX0WBVNB56 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $5017650.00   | 0.20%             | 2029-09-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Royal Caribbean Cruises Ltd.                                                      | Royal Caribbean Cruises Ltd.                                                      | CUSIP: 780153BL5<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |  13900000 | PA      | $13982844.00  | 0.56%             | 2027-08-15      | Fixed         | 11.62%                | No            |                  2 | On Loan: No      |
| Nine Point Energy Holdings, Inc.                                                  | Nine Point Energy Holdings, Inc.                                                  | CUSIP: N/A<br>LEI: 549300P7VQ6Y0BZIKN47       | Long             | EC               | CORP              | US        |  46695277 | NS      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Bausch Health Cos., Inc.                                                          | Bausch Health Cos., Inc.                                                          | CUSIP: 071734AP2<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |   3100000 | PA      | $2141728.00   | 0.09%             | 2027-02-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Occidental Petroleum Corp.                                                        | Occidental Petroleum Corp.                                                        | CUSIP: 674599DF9<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |  15200000 | PA      | $15538276.00  | 0.62%             | 2036-09-15      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| News Corp.                                                                        | News Corp.                                                                        | CUSIP: 65249BAA7<br>LEI: 549300ITS31QK8VRBQ14 | Long             | DBT              | CORP              | US        |   4400000 | PA      | $3822874.00   | 0.15%             | 2029-05-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Pactiv Evergreen Group Issuer, Inc./Pactiv Evergreen Group Issuer LLC             | Pactiv Evergreen Group Issuer, Inc./Pactiv Evergreen Group Issuer LLC             | CUSIP: 76174LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  22800000 | PA      | $20261228.66  | 0.81%             | 2027-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Herc Holdings, Inc.                                                               | Herc Holdings, Inc.                                                               | CUSIP: 42704LAA2<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $3739120.00   | 0.15%             | 2027-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Gap, Inc. (The)                                                                   | Gap, Inc. (The)                                                                   | CUSIP: 364760AP3<br>LEI: T2ZG1WRWZ4BUCMQL9224 | Long             | DBT              | CORP              | US        |  12800000 | PA      | $9046144.00   | 0.36%             | 2029-10-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Northwest Fiber LLC / Northwest Fiber Finance Sub, Inc.                           | Northwest Fiber LLC / Northwest Fiber Finance Sub, Inc.                           | CUSIP: 667449AC6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4500000 | PA      | $3489900.03   | 0.14%             | 2028-02-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Jefferson Capital Holdings LLC                                                    | Jefferson Capital Holdings LLC                                                    | CUSIP: 472481AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  17600000 | PA      | $14587760.00  | 0.58%             | 2026-08-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Birch Permian Holdings, Inc.                                                      | Birch Permian Holdings, Inc.                                                      | CUSIP: 09075C203<br>LEI: 5493008GXCEAUIZGCH60 | Long             | EC               | CORP              | US        |    611911 | NS      | $11435086.81  | 0.45%             |  |  |  | No            |                  2 | On Loan: No      |
| Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp.               | Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp.               | CUSIP: 505742AP1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5700000 | PA      | $4610331.00   | 0.18%             | 2029-06-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Ardagh Packaging Finance plc / Ardagh Holdings USA, Inc.                          | Ardagh Packaging Finance plc / Ardagh Holdings USA, Inc.                          | CUSIP: 03969AAQ3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  11400000 | PA      | $10867486.96  | 0.43%             | 2025-04-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Five Point Operating Co. LP / Five Point Capital Corp.                            | Five Point Operating Co. LP / Five Point Capital Corp.                            | CUSIP: 33834YAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  19900000 | PA      | $16759800.50  | 0.67%             | 2025-11-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| California Resources Corp.                                                        | California Resources Corp.                                                        | CUSIP: 13057Q123<br>LEI: 5493003Q8F0T4F4YMR48 | Long             |  | CORP              | US        |      3278 | NS      | $41302.80     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| MPT Operating Partnership LP / MPT Finance Corp.                                  | MPT Operating Partnership LP / MPT Finance Corp.                                  | CUSIP: 55342UAG9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  14400000 | PA      | $13138632.00  | 0.52%             | 2026-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ModivCare Escrow Issuer, Inc.                                                     | ModivCare Escrow Issuer, Inc.                                                     | CUSIP: 60783XAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   8500000 | PA      | $7179100.00   | 0.29%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| T-Mobile USA, Inc.                                                                | T-Mobile USA, Inc.                                                                | CUSIP: 87264ABT1<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |   9200000 | PA      | $7614639.44   | 0.30%             | 2031-02-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| SunCoke Energy, Inc.                                                              | SunCoke Energy, Inc.                                                              | CUSIP: 86722AAD5<br>LEI: 1KF1J2NXQE2PI0QOB943 | Long             | DBT              | CORP              | US        |  12600000 | PA      | $10832062.50  | 0.43%             | 2029-06-30      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| RHP Hotel Properties LP / RHP Finance Corp.                                       | RHP Hotel Properties LP / RHP Finance Corp.                                       | CUSIP: 749571AG0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  10000000 | PA      | $8638685.40   | 0.34%             | 2029-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Presidio Holdings, Inc.                                                           | Presidio Holdings, Inc.                                                           | CUSIP: 74101XAE0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   7500000 | PA      | $6851100.00   | 0.27%             | 2027-02-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| XHR LP                                                                            | XHR LP                                                                            | CUSIP: 98372MAC9<br>LEI: 549300M88BPT83ZL2164 | Long             | DBT              | CORP              | US        |   7300000 | PA      | $5989111.99   | 0.24%             | 2029-06-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| EnLink Midstream LLC                                                              | EnLink Midstream LLC                                                              | CUSIP: 29336TAA8<br>LEI: 54930000GY1H533OBE23 | Long             | DBT              | CORP              | US        |   2100000 | PA      | $1946611.95   | 0.08%             | 2029-06-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| H&E Equipment Services, Inc.                                                      | H&E Equipment Services, Inc.                                                      | CUSIP: 404030AJ7<br>LEI: 254900KVLRCDMQRYY541 | Long             | DBT              | CORP              | US        |  10900000 | PA      | $9303640.50   | 0.37%             | 2028-12-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Ahern Rentals, Inc.                                                               | Ahern Rentals, Inc.                                                               | CUSIP: 008674AH6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  13500000 | PA      | $13500000.00  | 0.54%             | 2023-05-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| MPH Acquisition Holdings LLC                                                      | MPH Acquisition Holdings LLC                                                      | CUSIP: 553283AC6<br>LEI: 5493002WXOPRPTXWTU06 | Long             | DBT              | CORP              | US        |  24600000 | PA      | $16413420.37  | 0.65%             | 2028-11-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Endo Luxembourg Finance Co. I SARL / Endo US, Inc.                                | Endo Luxembourg Finance Co. I SARL / Endo US, Inc.                                | CUSIP: 29280BAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |   4700000 | PA      | $3574225.83   | 0.14%             | 2029-04-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Weatherford International Ltd.                                                    | Weatherford International Ltd.                                                    | CUSIP: 947075AP2<br>LEI: 549300A2JKMG5PGOGF82 | Long             | DBT              | CORP              | BM        |    354000 | PA      | $362416.05    | 0.01%             | 2024-12-01      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| Ashton Woods USA LLC / Ashton Woods Finance Co.                                   | Ashton Woods USA LLC / Ashton Woods Finance Co.                                   | CUSIP: 045086AM7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  13000000 | PA      | $10429909.36  | 0.41%             | 2029-08-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Pilgrim's Pride Corp.                                                             | Pilgrim's Pride Corp.                                                             | CUSIP: 72147KAG3<br>LEI: 549300ZSLGV64ZL3HD75 | Long             | DBT              | CORP              | US        |   3600000 | PA      | $2822202.00   | 0.11%             | 2032-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Eco Material Technologies, Inc.                                                   | Eco Material Technologies, Inc.                                                   | CUSIP: 27900QAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  10500000 | PA      | $10043860.37  | 0.40%             | 2027-01-31      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Netflix, Inc.                                                                     | Netflix, Inc.                                                                     | CUSIP: 64110LAY2<br>LEI: 549300Y7VHGU0I7CE873 | Long             | DBT              | CORP              | US        |   7300000 | PA      | $7001065.00   | 0.28%             | 2025-06-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Weatherford International Ltd.                                                    | Weatherford International Ltd.                                                    | CUSIP: 947075AU1<br>LEI: 549300A2JKMG5PGOGF82 | Long             | DBT              | CORP              | BM        |  14100000 | PA      | $13565514.40  | 0.54%             | 2030-04-30      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| Diamond Sports Group LLC / Diamond Sports Finance Co.                             | Diamond Sports Group LLC / Diamond Sports Finance Co.                             | CUSIP: 25277LAC0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  11300000 | PA      | $127125.00    | 0.01%             | 2027-08-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Trivium Packaging Finance BV                                                      | Trivium Packaging Finance BV                                                      | CUSIP: 89686QAB2<br>LEI: 724500GMZWW3PVYET548 | Long             | DBT              | CORP              | NL        |   2100000 | PA      | $1930120.31   | 0.08%             | 2027-08-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| JP Morgan Structured Products BV                                                  | Chaparral Energy, Inc.                                                            | CUSIP: 15942R141<br>LEI: XZYUUT6IYN31D9K77X08 | Long             |  | CORP              | NL        |        13 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| DT Midstream, Inc.                                                                | DT Midstream, Inc.                                                                | CUSIP: 23345MAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  10800000 | PA      | $9299178.00   | 0.37%             | 2029-06-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Arcosa, Inc.                                                                      | Arcosa, Inc.                                                                      | CUSIP: 039653AA8<br>LEI: 549300WFHLTCZV7D6V29 | Long             | DBT              | CORP              | US        |   5400000 | PA      | $4689660.29   | 0.19%             | 2029-04-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Antero Resources Corp.                                                            | Antero Resources Corp.                                                            | CUSIP: 03674XAQ9<br>LEI: APVBKPOULHUX7YZLKU17 | Long             | DBT              | CORP              | US        |   4422000 | PA      | $4452295.87   | 0.18%             | 2029-02-01      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp.               | Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp.               | CUSIP: 226373AR9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  13700000 | PA      | $12589692.41  | 0.50%             | 2029-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Wynn Macau Ltd.                                                                   | Wynn Macau Ltd.                                                                   | CUSIP: 98313RAH9<br>LEI: 254900NMDQ8ENTHU1I31 | Long             | DBT              | CORP              | KY        |   4800000 | PA      | $4110216.00   | 0.16%             | 2028-08-26      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Endo Dac / Endo Finance LLC / Endo Finco, Inc.                                    | Endo Dac / Endo Finance LLC / Endo Finco, Inc.                                    | CUSIP: 29273DAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   7104000 | PA      | $1003440.00   | 0.04%             | 2027-07-31      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Amplify Energy Corp.                                                              | Amplify Energy Corp.                                                              | CUSIP: 03212B103<br>LEI: J0TW5YQRAZXYN7VEU787 | Long             | EC               | CORP              | US        |      8816 | NS      | $77492.64     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Bausch Health Cos., Inc.                                                          | Bausch Health Cos., Inc.                                                          | CUSIP: 071734AN7<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |   9800000 | PA      | $6251535.93   | 0.25%             | 2028-06-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Cheniere Energy Partners LP                                                       | Cheniere Energy Partners LP                                                       | CUSIP: 16411QAG6<br>LEI: 5493005UEC8AZ34LDV29 | Long             | DBT              | CORP              | US        |   5600000 | PA      | $5048268.06   | 0.20%             | 2029-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CCO Holdings LLC / CCO Holdings Capital Corp.                                     | CCO Holdings LLC / CCO Holdings Capital Corp.                                     | CUSIP: 1248EPCS0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   8000000 | PA      | $7533320.00   | 0.30%             | 2029-09-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| DISH DBS Corp.                                                                    | DISH DBS Corp.                                                                    | CUSIP: 25470XBF1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  10000000 | PA      | $8000000.00   | 0.32%             | 2028-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Organon & Co. / Organon Foreign Debt Co-Issuer BV                                 | Organon & Co. / Organon Foreign Debt Co-Issuer BV                                 | CUSIP: 68622TAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  19000000 | PA      | $16855850.00  | 0.67%             | 2028-04-30      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| CCO Holdings LLC / CCO Holdings Capital Corp.                                     | CCO Holdings LLC / CCO Holdings Capital Corp.                                     | CUSIP: 1248EPCB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  10900000 | PA      | $9881122.50   | 0.39%             | 2029-06-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Caesars Resort Collection LLC / CRC Finco, Inc.                                   | Caesars Resort Collection LLC / CRC Finco, Inc.                                   | CUSIP: 12770RAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   7000000 | PA      | $6862562.49   | 0.27%             | 2025-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Michaels Cos., Inc. (The)                                                         | Michaels Cos., Inc. (The)                                                         | CUSIP: 55916AAA2<br>LEI: 549300H9LWMBP7HYLR98 | Long             | DBT              | CORP              | US        |   4200000 | PA      | $3384089.81   | 0.13%             | 2028-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| United Airlines, Inc.                                                             | United Airlines, Inc.                                                             | CUSIP: 90932LAG2<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | DBT              | CORP              | US        |   2700000 | PA      | $2507290.20   | 0.10%             | 2026-04-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| CCO Holdings LLC / CCO Holdings Capital Corp.                                     | CCO Holdings LLC / CCO Holdings Capital Corp.                                     | CUSIP: 1248EPCE1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  10500000 | PA      | $8698305.00   | 0.35%             | 2030-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Par Pharmaceutical, Inc.                                                          | Par Pharmaceutical, Inc.                                                          | CUSIP: 69888XAA7<br>LEI: 549300KK5WR4MGN4YT97 | Long             | DBT              | CORP              | US        |   4273000 | PA      | $3256451.85   | 0.13%             | 2027-04-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Horizon Therapeutics USA, Inc.                                                    | Horizon Therapeutics USA, Inc.                                                    | CUSIP: 44055PAA4<br>LEI: 254900IS87RLPXY88S03 | Long             | DBT              | CORP              | US        |  13000000 | PA      | $13363805.00  | 0.53%             | 2027-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Alpha Natural Resources, Inc.                                                     | Alpha Natural Resources, Inc., Escrow Account                                     | CUSIP: N/A<br>LEI: 549300RMR3HIT7XBWP96       | Long             | EC               | CORP              | US        |  25000000 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Ashton Woods USA LLC / Ashton Woods Finance Co.                                   | Ashton Woods USA LLC / Ashton Woods Finance Co.                                   | CUSIP: 045086AP0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   8000000 | PA      | $6431279.92   | 0.26%             | 2030-04-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Oxford Finance LLC / Oxford Finance Co-Issuer II, Inc.                            | Oxford Finance LLC / Oxford Finance Co-Issuer II, Inc.                            | CUSIP: 69145LAC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3400000 | PA      | $3169174.00   | 0.13%             | 2027-02-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Sensata Technologies BV                                                           | Sensata Technologies BV                                                           | CUSIP: 81725WAK9<br>LEI: PUCKW5P5O3XMOZVH7T53 | Long             | DBT              | CORP              | NL        |  16500000 | PA      | $14253525.00  | 0.57%             | 2029-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Constellium SE                                                                    | Constellium SE                                                                    | CUSIP: 21039CAB0<br>LEI: 724500KRJEMC79KAAU28 | Long             | DBT              | CORP              | FR        |  16000000 | PA      | $13019398.24  | 0.52%             | 2029-04-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Tenet Healthcare Corp.                                                            | Tenet Healthcare Corp.                                                            | CUSIP: 88033GCX6<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |  14500000 | PA      | $13956830.00  | 0.56%             | 2027-02-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Hexion Holdings Corp.                                                             | Hexion Holdings Corp., First Lien Term Loan                                       | CUSIP: 00217XAB2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   8678250 | PA      | $7493668.88   | 0.30%             | 2029-03-15      | Variable      | 8.93%                 | No            |                  2 | On Loan: No      |
| California Resources Corp.                                                        | California Resources Corp.                                                        | CUSIP: 13057Q305<br>LEI: 5493003Q8F0T4F4YMR48 | Long             | EC               | CORP              | US        |      1425 | NS      | $62001.75     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Chesapeake Energy Corp.                                                           | Chesapeake Energy Corp.                                                           | CUSIP: 165167DF1<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1932550.02   | 0.08%             | 2026-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| First Student Bidco, Inc. / First Transit Parent, Inc.                            | First Student Bidco, Inc. / First Transit Parent, Inc.                            | CUSIP: 337120AA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  21700000 | PA      | $17980020.65  | 0.72%             | 2029-07-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Hilcorp Energy I LP / Hilcorp Finance Co.                                         | Hilcorp Energy I LP / Hilcorp Finance Co.                                         | CUSIP: 431318AV6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4331543.40   | 0.17%             | 2031-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CSI Compressco LP / CSI Compressco Finance, Inc.                                  | CSI Compressco LP / CSI Compressco Finance, Inc.                                  | CUSIP: 12652HAE8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  17833800 | PA      | $14746947.56  | 0.59%             | 2026-04-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| GPD Cos., Inc.                                                                    | GPD Cos., Inc.                                                                    | CUSIP: 64051NAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  19500000 | PA      | $16654560.00  | 0.66%             | 2026-04-01      | Fixed         | 10.12%                | No            |                  2 | On Loan: No      |
| Carnival Corp.                                                                    | Carnival Corp.                                                                    | CUSIP: 143658BN1<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |  24000000 | PA      | $17178480.00  | 0.68%             | 2027-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Outfront Media Capital LLC / Outfront Media Capital Corp.                         | Outfront Media Capital LLC / Outfront Media Capital Corp.                         | CUSIP: 69007TAE4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   8000000 | PA      | $6648040.00   | 0.26%             | 2029-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Camelot Finance SA                                                                | Camelot Finance SA                                                                | CUSIP: 13323AAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |  14600000 | PA      | $13706489.05  | 0.55%             | 2026-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PROG Holdings, Inc.                                                               | PROG Holdings, Inc.                                                               | CUSIP: 74319RAA9<br>LEI: 549300DHYTLBOVRXIG52 | Long             | DBT              | CORP              | US        |  18600000 | PA      | $14991228.00  | 0.60%             | 2029-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Talen Energy Supply LLC                                                           | Talen Energy Supply LLC                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | US        |  37620000 | PA      | $12414600.00  | 0.49%             | 2049-02-20      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Novelis Corp.                                                                     | Novelis Corp.                                                                     | CUSIP: 670001AG1<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |   1600000 | PA      | $1436408.00   | 0.06%             | 2026-11-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Univision Communications, Inc.                                                    | Univision Communications, Inc.                                                    | CUSIP: 914906AV4<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $3352540.00   | 0.13%             | 2029-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Iliad Holding SASU                                                                | Iliad Holding SASU                                                                | CUSIP: 449691AA2<br>LEI: 9695009PXA7OI9NXN582 | Long             | DBT              | CORP              | FR        |   5200000 | PA      | $4831755.97   | 0.19%             | 2026-10-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Sunoco LP / Sunoco Finance Corp.                                                  | Sunoco LP / Sunoco Finance Corp.                                                  | CUSIP: 86765LAZ0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  10000000 | PA      | $8694000.00   | 0.35%             | 2030-04-30      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp.               | Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp.               | CUSIP: 67421QAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6000000 | PA      | $5979301.86   | 0.24%             | 2029-04-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Vistra Operations Co. LLC                                                         | Vistra Operations Co. LLC                                                         | CUSIP: 92840VAG7<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |   5700000 | PA      | $5201134.12   | 0.21%             | 2027-01-30      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Hilcorp Energy I LP / Hilcorp Finance Co.                                         | Hilcorp Energy I LP / Hilcorp Finance Co.                                         | CUSIP: 431318AY0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4000000 | PA      | $3562884.00   | 0.14%             | 2030-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| EQT Corp.                                                                         | EQT Corp.                                                                         | CUSIP: 26884LAM1<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2300837.70   | 0.09%             | 2026-05-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| Clearway Energy Operating LLC                                                     | Clearway Energy Operating LLC                                                     | CUSIP: 18539UAD7<br>LEI: 549300Z3NFMM54NWBB87 | Long             | DBT              | CORP              | US        |   7000000 | PA      | $5820667.79   | 0.23%             | 2031-02-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Clear Channel Outdoor Holdings, Inc.                                              | Clear Channel Outdoor Holdings, Inc.                                              | CUSIP: 18453HAD8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  10700000 | PA      | $7876751.50   | 0.31%             | 2029-06-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Glatfelter Corp.                                                                  | Glatfelter Corp.                                                                  | CUSIP: 377320AA4<br>LEI: 549300LDQLQBT38QDY28 | Long             | DBT              | CORP              | US        |   8200000 | PA      | $4941324.18   | 0.20%             | 2029-11-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Institutional Fiduciary Trust Money Market Portfolio                              | Institutional Fiduciary Trust Money Market Portfolio                              | CUSIP: 457756500<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   7334000 | NS      | $7334000.00   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Tenet Healthcare Corp.                                                            | Tenet Healthcare Corp.                                                            | CUSIP: 88033GDP2<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |  14600000 | PA      | $13936503.00  | 0.55%             | 2030-06-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Rocket Software, Inc.                                                             | Rocket Software, Inc.                                                             | CUSIP: 77314EAA6<br>LEI: 549300PVG26ISP5X1556 | Long             | DBT              | CORP              | US        |  18500000 | PA      | $14608084.70  | 0.58%             | 2029-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| JP Morgan Structured Products BV                                                  | Chaparral Energy, Inc.                                                            | CUSIP: 15942R133<br>LEI: XZYUUT6IYN31D9K77X08 | Long             |  | CORP              | NL        |        13 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Hexion Holdings Corp.                                                             | Hexion Holdings Corp., Second Lien Term Loan                                      | CUSIP: 42829JAB5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   9279070 | PA      | $7376860.47   | 0.29%             | 2030-03-15      | Variable      | 11.86%                | No            |                  2 | On Loan: No      |
| Alpha Metallurgical Resources, Inc.                                               | Alpha Metallurgical Resources, Inc.                                               | CUSIP: 21241B118<br>LEI: N/A                  | Long             |  | CORP              | US        |      5033 | NS      | $608993.00    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| VICI Properties LP / VICI Note Co., Inc.                                          | VICI Properties LP / VICI Note Co., Inc.                                          | CUSIP: 92564RAD7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   8000000 | PA      | $7275000.00   | 0.29%             | 2027-02-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Pactiv Evergreen Group Issuer LLC / Pactiv Evergreen Group Issuer, Inc.           | Pactiv Evergreen Group Issuer LLC / Pactiv Evergreen Group Issuer, Inc.           | CUSIP: 69527AAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2800000 | PA      | $2505090.00   | 0.10%             | 2028-10-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Centene Corp.                                                                     | Centene Corp.                                                                     | CUSIP: 15135BAX9<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |  15000000 | PA      | $11765971.65  | 0.47%             | 2031-03-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Outfront Media Capital LLC / Outfront Media Capital Corp.                         | Outfront Media Capital LLC / Outfront Media Capital Corp.                         | CUSIP: 69007TAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1900000 | PA      | $1713413.20   | 0.07%             | 2027-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CSI Compressco LP / CSI Compressco Finance, Inc.                                  | CSI Compressco LP / CSI Compressco Finance, Inc.                                  | CUSIP: 12652HAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4500000 | PA      | $4214609.64   | 0.17%             | 2025-04-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Caesars Entertainment, Inc.                                                       | Caesars Entertainment, Inc.                                                       | CUSIP: 28470RAH5<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |  15600000 | PA      | $15189805.80  | 0.60%             | 2025-07-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| JELD-WEN, Inc.                                                                    | JELD-WEN, Inc.                                                                    | CUSIP: 475795AC4<br>LEI: 549300XWE6NM0N1HFW16 | Long             | DBT              | CORP              | US        |   7600000 | PA      | $6375488.00   | 0.25%             | 2025-12-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Gartner, Inc.                                                                     | Gartner, Inc.                                                                     | CUSIP: 366651AC1<br>LEI: PP55B5R38BFB8O8HH686 | Long             | DBT              | CORP              | US        |   9300000 | PA      | $8687130.00   | 0.35%             | 2028-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Global Net Lease, Inc. / Global Net Lease Operating Partnership LP                | Global Net Lease, Inc. / Global Net Lease Operating Partnership LP                | CUSIP: 37892AAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  15900000 | PA      | $13171826.80  | 0.52%             | 2027-12-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Netflix, Inc.                                                                     | Netflix, Inc.                                                                     | CUSIP: 64110LAU0<br>LEI: 549300Y7VHGU0I7CE873 | Long             | DBT              | CORP              | US        |   3600000 | PA      | $3498390.00   | 0.14%             | 2029-11-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| JELD-WEN, Inc.                                                                    | JELD-WEN, Inc.                                                                    | CUSIP: 475795AD2<br>LEI: 549300XWE6NM0N1HFW16 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $3771250.00   | 0.15%             | 2027-12-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Diamond Sports Group LLC / Diamond Sports Finance Co.                             | Diamond Sports Group LLC / Diamond Sports Finance Co.                             | CUSIP: 25277LAF3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  13300000 | PA      | $1579375.00   | 0.06%             | 2026-08-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Cheniere Energy Partners LP                                                       | Cheniere Energy Partners LP                                                       | CUSIP: 16411QAK7<br>LEI: 5493005UEC8AZ34LDV29 | Long             | DBT              | CORP              | US        |  28000000 | PA      | $23875880.00  | 0.95%             | 2031-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fertitta Entertainment LLC                                                        | Fertitta Entertainment LLC, Term Loan B                                           | CUSIP: 31556PAB3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  13001750 | PA      | $12387482.32  | 0.49%             | 2029-01-27      | Variable      | 8.32%                 | No            |                  2 | On Loan: No      |
| APX Group, Inc.                                                                   | APX Group, Inc.                                                                   | CUSIP: 00213MAW4<br>LEI: 549300OMQVKPRU98OE64 | Long             | DBT              | CORP              | US        |  15300000 | PA      | $12691148.35  | 0.50%             | 2029-07-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| DaVita, Inc.                                                                      | DaVita, Inc.                                                                      | CUSIP: 23918KAS7<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |  16700000 | PA      | $13469246.22  | 0.54%             | 2030-06-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Braskem Idesa SAPI                                                                | Braskem Idesa SAPI                                                                | CUSIP: 10554NAB4<br>LEI: YH0V7ZHY352ITDGEYB83 | Long             | DBT              | CORP              | MX        |   4100000 | PA      | $2934425.10   | 0.12%             | 2032-02-20      | Fixed         | 6.99%                 | No            |                  2 | On Loan: No      |
| Camelot Return Merger Sub, Inc.                                                   | Camelot Return Merger Sub, Inc.                                                   | CUSIP: 13323NAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  15400000 | PA      | $14151445.00  | 0.56%             | 2028-08-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Consolidated Energy Finance SA                                                    | Consolidated Energy Finance SA                                                    | CUSIP: 20914UAF3<br>LEI: 549300PUNIS0USNSL750 | Long             | DBT              | CORP              | LU        |  12700000 | PA      | $10807404.98  | 0.43%             | 2028-10-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| EQM Midstream Partners LP                                                         | EQM Midstream Partners LP                                                         | CUSIP: 26885BAM2<br>LEI: 549300NELT611CL6XM83 | Long             | DBT              | CORP              | US        |   1900000 | PA      | $1863111.50   | 0.07%             | 2027-06-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Altice France SA                                                                  | Altice France SA                                                                  | CUSIP: 02156LAC5<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |   7500000 | PA      | $5889525.00   | 0.23%             | 2028-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CommScope, Inc.                                                                   | CommScope, Inc.                                                                   | CUSIP: 203372AV9<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |  11700000 | PA      | $8382977.58   | 0.33%             | 2028-07-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| PMHC II, Inc.                                                                     | PMHC II, Inc., Term Loan                                                          | CUSIP: 69346EAG2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  13067250 | PA      | $11110559.99  | 0.44%             | 2029-04-23      | Variable      | 8.49%                 | No            |                  2 | On Loan: No      |
| 1011778 BC ULC / New Red Finance, Inc.                                            | 1011778 BC ULC / New Red Finance, Inc.                                            | CUSIP: 68245XAM1<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |  12700000 | PA      | $10311066.50  | 0.41%             | 2030-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Univision Communications, Inc.                                                    | Univision Communications, Inc.                                                    | CUSIP: 914906AS1<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |   8500000 | PA      | $8112571.70   | 0.32%             | 2025-02-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Clear Channel Outdoor Holdings, Inc.                                              | Clear Channel Outdoor Holdings, Inc.                                              | CUSIP: 18453HAC0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5700000 | PA      | $4168434.62   | 0.17%             | 2028-04-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| NCL Corp. Ltd.                                                                    | NCL Corp. Ltd.                                                                    | CUSIP: 62886HBA8<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |   5700000 | PA      | $4487040.00   | 0.18%             | 2026-03-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Martin Midstream Partners LP / Martin Midstream Finance Corp.                     | Martin Midstream Partners LP / Martin Midstream Finance Corp.                     | CUSIP: 573334AH2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  28805087 | PA      | $28854631.75  | 1.15%             | 2025-02-28      | Fixed         | 11.50%                | No            |                  2 | On Loan: No      |
| Jones Deslauriers Insurance Management, Inc.                                      | Jones Deslauriers Insurance Management, Inc.                                      | CUSIP: 48020RAA3<br>LEI: 549300JQIWNFU00E5424 | Long             | DBT              | CORP              | CA        |  12000000 | PA      | $11833848.84  | 0.47%             | 2030-12-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| InterGen NV                                                                       | InterGen NV                                                                       | CUSIP: 45867XAG9<br>LEI: 549300E3XRGX2JMPEC79 | Long             | DBT              | CORP              | NL        |  30400000 | PA      | $29553629.34  | 1.18%             | 2023-06-30      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Antero Resources Corp.                                                            | Antero Resources Corp.                                                            | CUSIP: 03674XAS5<br>LEI: APVBKPOULHUX7YZLKU17 | Long             | DBT              | CORP              | US        |   4300000 | PA      | $3992378.00   | 0.16%             | 2030-03-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Studio City Finance Ltd.                                                          | Studio City Finance Ltd.                                                          | CUSIP: 86389QAG7<br>LEI: 254900D6R731QAUIG324 | Long             | DBT              | CORP              | VG        |  21500000 | PA      | $15904517.50  | 0.63%             | 2029-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Oscar AcquisitionCo LLC / Oscar Finance, Inc.                                     | Oscar AcquisitionCo LLC / Oscar Finance, Inc.                                     | CUSIP: 687785AB1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2800000 | PA      | $2516360.00   | 0.10%             | 2030-04-15      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Clearway Energy Operating LLC                                                     | Clearway Energy Operating LLC                                                     | CUSIP: 18539UAE5<br>LEI: 549300Z3NFMM54NWBB87 | Long             | DBT              | CORP              | US        |   8800000 | PA      | $7087129.46   | 0.28%             | 2032-01-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Mauser Packaging Solutions Holding Co.                                            | Mauser Packaging Solutions Holding Co.                                            | CUSIP: 57763RAA5<br>LEI: 549300DNGHXL0OMHW304 | Long             | DBT              | CORP              | US        |  10500000 | PA      | $10342059.42  | 0.41%             | 2024-04-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| OneMain Finance Corp.                                                             | OneMain Finance Corp.                                                             | CUSIP: 85172FAR0<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |   7600000 | PA      | $6228660.26   | 0.25%             | 2029-11-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Teva Pharmaceutical Finance Netherlands III BV                                    | Teva Pharmaceutical Finance Netherlands III BV                                    | CUSIP: 88167AAN1<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |   9300000 | PA      | $9262986.00   | 0.37%             | 2025-01-31      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| WESCO Distribution, Inc.                                                          | WESCO Distribution, Inc.                                                          | CUSIP: 95081QAP9<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |   4600000 | PA      | $4670007.26   | 0.19%             | 2028-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Ashtead Capital, Inc.                                                             | Ashtead Capital, Inc.                                                             | CUSIP: 045054AN3<br>LEI: 213800J1134IW58IC398 | Long             | DBT              | CORP              | US        |   1800000 | PA      | $1538294.96   | 0.06%             | 2026-08-12      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Institutional Fiduciary Trust - Money Market Portfolio                            | Institutional Fiduciary Trust - Money Market Portfolio                            | CUSIP: 457756500<br>LEI: 549300M4TP89K77LG374 | Long             | STIV             | RF                | US        |  89730167 | NS      | $89730166.57  | 3.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Fertitta Entertainment LLC / Fertitta Entertainment Finance Co., Inc.             | Fertitta Entertainment LLC / Fertitta Entertainment Finance Co., Inc.             | CUSIP: 31556TAC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  10600000 | PA      | $8569835.00   | 0.34%             | 2030-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Cheniere Energy, Inc.                                                             | Cheniere Energy, Inc.                                                             | CUSIP: 16411RAK5<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | DBT              | CORP              | US        |   9300000 | PA      | $8423868.86   | 0.34%             | 2028-10-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| KB Home                                                                           | KB Home                                                                           | CUSIP: 48666KBA6<br>LEI: 549300LGUCWQURMWLG09 | Long             | DBT              | CORP              | US        |   9000000 | PA      | $8756460.00   | 0.35%             | 2030-07-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Rain CII Carbon LLC / CII Carbon Corp.                                            | Rain CII Carbon LLC / CII Carbon Corp.                                            | CUSIP: 75079RAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  14500000 | PA      | $13384660.00  | 0.53%             | 2025-04-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Novelis Corp.                                                                     | Novelis Corp.                                                                     | CUSIP: 670001AH9<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |   2200000 | PA      | $1799033.35   | 0.07%             | 2031-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| T-Mobile USA, Inc.                                                                | T-Mobile USA, Inc.                                                                | CUSIP: 87264ABS3<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |   9200000 | PA      | $7800503.36   | 0.31%             | 2029-02-15      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| CrownRock LP / CrownRock Finance, Inc.                                            | CrownRock LP / CrownRock Finance, Inc.                                            | CUSIP: 228701AG3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5100000 | PA      | $4609613.48   | 0.18%             | 2029-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Enerflex Ltd.                                                                     | Enerflex Ltd.                                                                     | CUSIP: 29269RAA3<br>LEI: 54930014N7872VUS3F89 | Long             | DBT              | CORP              | CA        |  15100000 | PA      | $15078407.00  | 0.60%             | 2027-10-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Nabors Industries, Inc.                                                           | Nabors Industries, Inc.                                                           | CUSIP: 62957HAJ4<br>LEI: 549300VFQWRKICUFNU92 | Long             | DBT              | CORP              | US        |  10300000 | PA      | $9989452.22   | 0.40%             | 2027-05-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Chesapeake Energy Corp.                                                           | Chesapeake Energy Corp., Escrow Account                                           | CUSIP: 165ESCAJ3<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | DBT              | CORP              | US        |  13700000 | PA      | $308250.00    | 0.01%             | 2026-10-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Cogent Communications Group, Inc.                                                 | Cogent Communications Group, Inc.                                                 | CUSIP: 19240CAE3<br>LEI: 549300KFWFYF8Q1U0Y26 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $9811780.90   | 0.39%             | 2027-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Occidental Petroleum Corp.                                                        | Occidental Petroleum Corp.                                                        | CUSIP: 674599EA9<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |  17500000 | PA      | $19786978.75  | 0.79%             | 2030-07-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| Standard Industries, Inc.                                                         | Standard Industries, Inc.                                                         | CUSIP: 853496AD9<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |   9200000 | PA      | $8292420.00   | 0.33%             | 2028-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Vibrantz Technologies, Inc.                                                       | Vibrantz Technologies, Inc.                                                       | CUSIP: 69357VAA3<br>LEI: 549300GYZ1T3S8OPH343 | Long             | DBT              | CORP              | US        |  11800000 | PA      | $8920335.43   | 0.35%             | 2030-02-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Teva Pharmaceutical Finance Netherlands III BV                                    | Teva Pharmaceutical Finance Netherlands III BV                                    | CUSIP: 88167AAQ4<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |    900000 | PA      | $802662.43    | 0.03%             | 2029-05-09      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp.               | Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp.               | CUSIP: 226373AP3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  14000000 | PA      | $13643280.00  | 0.54%             | 2025-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                    | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                    | CUSIP: 01883LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6900000 | PA      | $6216969.00   | 0.25%             | 2027-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| VICI Properties LP / VICI Note Co., Inc.                                          | VICI Properties LP / VICI Note Co., Inc.                                          | CUSIP: 92564RAL9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   7000000 | PA      | $6145154.54   | 0.24%             | 2029-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Endo Dac / Endo Finance LLC / Endo Finco, Inc.                                    | Endo Dac / Endo Finance LLC / Endo Finco, Inc.                                    | CUSIP: 29273DAC4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4473000 | PA      | $246015.00    | 0.01%             | 2028-06-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Chart Industries, Inc.                                                            | Chart Industries, Inc.                                                            | CUSIP: 16115QAF7<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | DBT              | CORP              | US        |  11400000 | PA      | $11474556.00  | 0.46%             | 2030-01-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Medline Borrower LP                                                               | Medline Borrower LP                                                               | CUSIP: 62482BAB8<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |  10300000 | PA      | $8199366.50   | 0.33%             | 2029-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Standard Industries, Inc.                                                         | Standard Industries, Inc.                                                         | CUSIP: 853496AC1<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4621090.30   | 0.18%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Howard Hughes Corp. (The)                                                         | Howard Hughes Corp. (The)                                                         | CUSIP: 44267DAE7<br>LEI: 549300BVHY25JZC1KI49 | Long             | DBT              | CORP              | US        |   5700000 | PA      | $4781986.50   | 0.19%             | 2029-02-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| American Airlines Inc/AAdvantage Loyalty IP Ltd.                                  | American Airlines Inc/AAdvantage Loyalty IP Ltd.                                  | CUSIP: 00253XAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1831521.68   | 0.07%             | 2029-04-20      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Talen Energy Supply LLC                                                           | Talen Energy Supply LLC                                                           | CUSIP: 87422VAA6<br>LEI: K5K33XN0PQAU1XF7NN66 | Long             | DBT              | CORP              | US        |  24950000 | PA      | $11726500.00  | 0.47%             | 2025-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Prestige Brands, Inc.                                                             | Prestige Brands, Inc.                                                             | CUSIP: 74112BAL9<br>LEI: 549300JBVP4J6D42I235 | Long             | DBT              | CORP              | US        |   5300000 | PA      | $4983493.01   | 0.20%             | 2028-01-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| HCA, Inc.                                                                         | HCA, Inc.                                                                         | CUSIP: 404121AH8<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   4600000 | PA      | $4555060.58   | 0.18%             | 2026-09-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Centene Corp.                                                                     | Centene Corp.                                                                     | CUSIP: 15135BAT8<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |   4300000 | PA      | $3939190.53   | 0.16%             | 2029-12-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Garden Spinco Corp.                                                               | Garden Spinco Corp.                                                               | CUSIP: 365417AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   9000000 | PA      | $9553005.00   | 0.38%             | 2030-07-20      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| Hilcorp Energy I LP / Hilcorp Finance Co.                                         | Hilcorp Energy I LP / Hilcorp Finance Co.                                         | CUSIP: 431318AU8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   7600000 | PA      | $6775488.08   | 0.27%             | 2029-02-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Premier Entertainment Sub LLC / Premier Entertainment Finance Corp.               | Premier Entertainment Sub LLC / Premier Entertainment Finance Corp.               | CUSIP: 74052HAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6200000 | PA      | $4393940.00   | 0.17%             | 2031-09-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Carnival Holdings Bermuda Ltd.                                                    | Carnival Holdings Bermuda Ltd.                                                    | CUSIP: 14366RAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10283850.00  | 0.41%             | 2028-05-01      | Fixed         | 10.38%                | No            |                  2 | On Loan: No      |
| Premier Entertainment Sub LLC / Premier Entertainment Finance Corp.               | Premier Entertainment Sub LLC / Premier Entertainment Finance Corp.               | CUSIP: 74052HAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   7800000 | PA      | $5761860.00   | 0.23%             | 2029-09-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Clear Channel International BV                                                    | Clear Channel International BV                                                    | CUSIP: 18452MAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | NL        |   3000000 | PA      | $2867352.48   | 0.11%             | 2025-08-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Jane Street Group / JSG Finance, Inc.                                             | Jane Street Group / JSG Finance, Inc.                                             | CUSIP: 47077WAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5700000 | PA      | $4910236.50   | 0.20%             | 2029-11-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Match Group Holdings II LLC                                                       | Match Group Holdings II LLC                                                       | CUSIP: 57665RAN6<br>LEI: 5493003RFFE030RC9167 | Long             | DBT              | CORP              | US        |  10400000 | PA      | $9289592.00   | 0.37%             | 2028-06-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-30

**Name of Applicant:** Franklin High Income Trust

**Signature:** Ryan Wheeler

**Name of Signer:** Ryan Wheeler

**Title:** Assistant Treasurer