# EDGAR Filing Document

**Accession Number:** 0001859808
**File Stem:** 0001410368-26-019512
**Filing Date:** 2026-2
**Character Count:** 427088
**Document Hash:** 566933882d987db60e94e3dfb1fba81b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-26-019512.hdr.sgml**: 20260226

**ACCESSION NUMBER**: 0001410368-26-019512

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260226

**DATE AS OF CHANGE**: 20260226

**PERIOD START**: 20260930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MassMutual Advantage Funds
- **CENTRAL INDEX KEY:** 0001859808

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23703
- **FILM NUMBER:** 26688087

**BUSINESS ADDRESS:**
- **STREET 1:** 1295 STATE STREET
- **CITY:** SPRINGFIELD
- **STATE:** MA
- **ZIP:** 01111
- **BUSINESS PHONE:** (860) 562-1000

**MAIL ADDRESS:**
- **STREET 1:** 1295 STATE STREET
- **CITY:** SPRINGFIELD
- **STATE:** MA
- **ZIP:** 01111

## Series and Classes Contracts Data

### MassMutual Global Credit Income Opportunities Fund (Series ID: S000072763)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000229286 | Class I      | BXITX           |
| C000229287 | Class A      | BXIAX           |
| C000229288 | Class Y      | BXIYX           |
| C000229289 | Class C      | BXICX           |

## Nport-Ex

---

| |
|:---|
| **MML Clinton Limited Term Municipal Fund (see Note 1) — Portfolio of Investments** |
| **December 31, 2025 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| | **Principal <br>Amount** | **Value** |
| **Bonds & Notes — 98.7%** |  |  |
| **Municipal Obligations — 98.7%** |  |  |
| **Alabama — 3.6%** |  |  |
| Southeast Energy Authority A Cooperative District, AL, Revenue Bonds, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.000% 10/01/30 | $2000000 | $2148690 |
| **Arizona — 1.9%** |  |  |
| Maricopa County Industrial Development Authority, AZ, Revenue Bonds, Series D, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.000% 12/01/34 | 1000000 | 1126345 |
| **California — 1.8%** |  |  |
| City of Los Angeles Department of Airports, CA, Revenue Bonds, Series A, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.000% 5/15/36 | 1000000 | 1050990 |
| **Florida — 7.0%** |  |  |
| Capital Trust Authority, FL, Revenue Bonds, Series A, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.000% 12/01/30 | 1900000 | 2080074 |
| State of Florida, General Obligation, Series A, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.000% 6/01/26 | 2000000 | 2020524 |
|  |  | 4100598 |
| **Georgia — 5.4%** |  |  |
| Dalton Whitfield County Joint Development Authority, GA, Revenue Bonds, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.000% 8/15/27 | 2800000 | 2902318 |
| Fayette County Development Authority, GA | Fayette County Development Authority, GA | Fayette County Development Authority, GA |
| Revenue Bonds, 5.000% 10/01/26 | 150000 | 151979 |
| Revenue Bonds, 5.000% 10/01/27 | 150000 | 154725 |
|  |  | 3209022 |
| **Illinois — 10.3%** |  |  |
| City of Chicago, IL, General Obligation, Series A, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.000% 1/01/35 | 2400000 | 2311169 |
| City of Chicago, IL, Waterworks Revenue, Revenue Bonds, Series A1, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.000% 11/01/28 | 1225000 | 1247563 |
| State of Illinois, General Obligation, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.000% 2/01/33 | 2250000 | 2518183 |
|  |  | 6076915 |
| **Indiana — 4.7%** |  |  |
| Indiana Finance Authority, Revenue Bonds, Series D, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.000% 10/01/63 | 1500000 | 1651097 |
| Valparaiso 21st Century School Building Corp., IN, Revenue Bonds, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.000% 1/15/32 | 1000000 | 1118774 |
|  |  | 2769871 |

---

**MML Clinton Limited Term Municipal Fund (see Note 1) — Portfolio of Investments (Continued)**

---

| | | |
|:---|:---|:---|
| | **Principal <br>Amount** | **Value** |
| **Louisiana — 0.5%** |  |  |
| Louisiana Public Facilities Authority, Revenue Bonds, Series 2025A, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.000% 5/15/30 | $250000 | $271307 |
| **Nebraska — 2.8%** |  |  |
| Central Plains Energy Project, NE, Revenue Bonds, Series A, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.000% 9/01/32 | 1500000 | 1644670 |
| **New Jersey — 2.2%** |  |  |
| New Jersey Economic Development Authority, Revenue Bonds, Series MMM, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.000% 6/15/35 | 1290000 | 1321651 |
| **New York — 11.0%** |  |  |
| City of New York, NY, General Obligation, Series I2, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.500% VMIG1 3/01/40 | 1400000 | 1400000 |
| Metropolitan Transportation Authority, NY | Metropolitan Transportation Authority, NY | Metropolitan Transportation Authority, NY |
| Revenue Bonds, Series E, 5.000% 11/15/32 | 2000000 | 2190429 |
| Dedicated Tax Fund, Revenue Bonds, Series A, 5.250% 11/15/27 | 1700000 | 1736874 |
| New York City Municipal Water Finance Authority, NY, Revenue Bonds, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.500% VMIG1 6/15/50 | 1145000 | 1145000 |
|  |  | 6472303 |
| **North Carolina — 0.3%** |  |  |
| Charlotte-Mecklenburg Hospital Authority, NC, Revenue Bonds, Series H, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.550% VMIG1 1/15/48 | 200000 | 200000 |
| **Ohio — 4.3%** |  |  |
| State of Ohio, General Obligation, Series A, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.000% 6/15/30 | 2270000 | 2518721 |
| **Pennsylvania — 9.9%** |  |  |
| Commonwealth of Pennsylvania, General Obligation, Series 2ND, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.000% 9/15/29 | 2320000 | 2357044 |
| Lehigh County General Purpose Authority, PA | Lehigh County General Purpose Authority, PA | Lehigh County General Purpose Authority, PA |
| Revenue Bonds, 5.000% 2/01/34 | 500000 | 539077 |
| Revenue Bonds, 5.000% 2/01/37 | 525000 | 555122 |
| Pennsylvania Turnpike Commission, Revenue Bonds, Series 1ST, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.000% 6/01/26 | 2270000 | 2292824 |
| Philadelphia Authority for Industrial Development, PA, Revenue Bonds, Series B1, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.480% VMIG1 7/01/54 | 100000 | 100000 |
|  |  | 5844067 |
| **South Carolina — 8.0%** |  |  |
| South Carolina Jobs-Economic Development Authority, Revenue Bonds, Series A, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.000% 11/01/31 | 2100000 | 2342843 |
| South Carolina Public Service Authority | South Carolina Public Service Authority | South Carolina Public Service Authority |
| Revenue Bonds, Series B, 4.000% 12/01/38 | 1120000 | 1138319 |
| Revenue Bonds, Series A, 5.000% 12/01/33 | 1125000 | 1252201 |
|  |  | 4733363 |

---

**MML Clinton Limited Term Municipal Fund (see Note 1) — Portfolio of Investments (Continued)**

---

| | | | |
|:---|:---|:---|:---|
| | **Principal <br>Amount** | **Principal <br>Amount** | **Value** |
| **Texas — 19.2%** |  |  |  |
| Canutillo Independent School District, TX, General Obligation, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.000% 8/15/30 | $| 1415000 | $1564398 |
| Central Texas Turnpike System, Revenue Bonds, Series C, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.000% 8/15/31 |  | 1800000 | 2013865 |
| City of San Antonio, TX, General Obligation, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.000% 2/01/26 |  | 2390000 | 2394761 |
| Clifton Higher Education Finance Corp., TX, Revenue Bonds, Series A, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.000% 2/15/30 |  | 1990000 | 2153954 |
| Dallas Independent School District. TX, General Obligation, Series B, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.000% 2/15/26 |  | 800000 | 802340 |
| Tarrant County Cultural Education Facilities Finance Corp., TX, Revenue Bonds, Series A, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.000% 7/01/32 |  | 2200000 | 2424566 |
|  |  |  | 11353884 |
| **Virginia — 3.4%** |  |  |  |
| Virginia Commonwealth Transportation Board, Revenue Bonds, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.000% 3/15/26 |  | 2000000 | 2010225 |
| **Wisconsin — 2.4%** |  |  |  |
| University of Wisconsin Hospitals & Clinics | University of Wisconsin Hospitals & Clinics | University of Wisconsin Hospitals & Clinics | University of Wisconsin Hospitals & Clinics |
| Revenue Bonds, Series A, 5.000% 4/01/29 |  | 745000 | 800206 |
| Revenue Bonds, Series A, 5.000% 4/01/30 |  | 575000 | 629518 |
|  |  |  | 1429724 |
| **TOTAL MUNICIPAL OBLIGATIONS <br> (Cost $58,011,069)** | **TOTAL MUNICIPAL OBLIGATIONS <br> (Cost $58,011,069)** | **TOTAL MUNICIPAL OBLIGATIONS <br> (Cost $58,011,069)** | **58282346** |
| **TOTAL BONDS & NOTES <br> (Cost $58,011,069)** | **TOTAL BONDS & NOTES <br> (Cost $58,011,069)** | **TOTAL BONDS & NOTES <br> (Cost $58,011,069)** | **58282346** |
| **TOTAL LONG-TERM INVESTMENTS <br> (Cost $58,011,069)** | **TOTAL LONG-TERM INVESTMENTS <br> (Cost $58,011,069)** | **TOTAL LONG-TERM INVESTMENTS <br> (Cost $58,011,069)** | **58282346** |
| **Short-Term Investments — 0.3%** |  |  |  |
| **Repurchase Agreement — 0.3%** |  |  |  |
| Fixed Income Clearing Corp., Repurchase Agreement, dated 12/31/25, 2.000%, due 1/02/26 (a) |  | 170948 | 170948 |
| **TOTAL SHORT-TERM INVESTMENTS <br> (Cost $170,948)** | **TOTAL SHORT-TERM INVESTMENTS <br> (Cost $170,948)** | **TOTAL SHORT-TERM INVESTMENTS <br> (Cost $170,948)** | **170948** |
| **TOTAL INVESTMENTS — 99.0% <br> (Cost $58,182,017) (b)** | **TOTAL INVESTMENTS — 99.0% <br> (Cost $58,182,017) (b)** | **TOTAL INVESTMENTS — 99.0% <br> (Cost $58,182,017) (b)** | **58453294** |
| **Other Assets/(Liabilities) — 1.0%** | **Other Assets/(Liabilities) — 1.0%** | **Other Assets/(Liabilities) — 1.0%** | **594882** |
| **NET ASSETS — 100.0%** | **NET ASSETS — 100.0%** | **NET ASSETS — 100.0%** | **$59048176** |

---

---

| | |
|:---|:---|
| **Notes to Portfolio of Investments** | **Notes to Portfolio of Investments** |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. |
| (a) | Maturity value of $170,967. Collateralized by U.S. Government Agency obligations with a rate of 3.875%, maturity date of 5/31/27, and an aggregate market value, including accrued interest, of $174,451. |
| (b) | See Note 3 for aggregate cost for federal tax purposes. |

---

---

| |
|:---|
| **MML Clinton Municipal Fund (see Note 1) — Portfolio of Investments** |
| **December 31, 2025 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| | **Principal <br>Amount** | **Value** |
| **Bonds & Notes — 98.7%** |  |  |
| **Municipal Obligations — 98.7%** |  |  |
| **Alabama — 7.2%** |  |  |
| County of Jefferson, AL, Sewer Revenue, Revenue Bonds, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.250% 10/01/42 | $2250000 | $2419736 |
| Southeast Energy Authority A Cooperative District, AL, Revenue Bonds, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.000% 10/01/30 | 2000000 | 2148690 |
|  |  | 4568426 |
| **Arizona — 1.8%** |  |  |
| Maricopa County Industrial Development Authority, AZ, Revenue Bonds, Series D, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.000% 12/01/34 | 1000000 | 1126345 |
| **Florida — 2.6%** |  |  |
| Orange County Health Facilities Authority, FL, Revenue Bonds, Series 2025A, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.000% 10/01/41 | 575000 | 628545 |
| Palm Beach County Health Facilities Authority, FL, Revenue Bonds, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.000% 11/15/42 | 1000000 | 1038286 |
|  |  | 1666831 |
| **Illinois — 11.2%** |  |  |
| Chicago O'Hare International Airport, IL, Revenue Bonds, Series B, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.000% 1/01/39 | 2375000 | 2404372 |
| City of Chicago, IL, General Obligation, Series A, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.000% 1/01/35 | 2400000 | 2311169 |
| State of Illinois, General Obligation, Series B, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.000% 5/01/41 | 2250000 | 2395473 |
|  |  | 7111014 |
| **Indiana — 3.6%** |  |  |
| Concord Community Schools Building Corp., IN, Revenue Bonds, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.000% 7/15/42 | 1000000 | 1077610 |
| Indiana Finance Authority, Revenue Bonds, Series D, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.000% 10/01/63 | 1105000 | 1216308 |
|  |  | 2293918 |
| **Louisiana — 1.8%** |  |  |
| City of Lafayette, LA, Utilities Revenue, Revenue Bonds, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.000% 11/01/36 | 1000000 | 1137541 |
| **Michigan — 2.1%** |  |  |
| Grand Rapids Public Schools, MI, General Obligation, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.000% 5/01/35 | 1125000 | 1296012 |

---

***MML Clinton Municipal Fund (see Note 1) — Portfolio of Investments (Continued)***

---

| | | |
|:---|:---|:---|
| | **Principal <br>Amount** | **Value** |
| **Nebraska — 2.6%** |  |  |
| Central Plains Energy Project, NE, Revenue Bonds, Series A, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.000% 9/01/32 | $1500000 | $1644670 |
| **New Jersey — 2.1%** |  |  |
| New Jersey Economic Development Authority, Revenue Bonds, Series MMM, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.000% 6/15/35 | 1290000 | 1321651 |
| **New York — 13.9%** |  |  |
| City of New York, NY, General Obligation, Series C, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.000% 8/01/40 | 2425000 | 2426827 |
| Empire State Development Corp., NY, Revenue Bonds, Series A, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.000% 3/15/43 | 2235000 | 2168443 |
| Metropolitan Transportation Authority, NY, Dedicated Tax Fund, Revenue Bonds, Series A, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.250% 11/15/27 | 1405000 | 1435475 |
| New York City Transitional Finance Authority, NY, Future Tax Secured Revenue | New York City Transitional Finance Authority, NY, Future Tax Secured Revenue | New York City Transitional Finance Authority, NY, Future Tax Secured Revenue |
| Revenue Bonds, Series C-1, 4.000% 2/01/39 | 1045000 | 1058907 |
| Revenue Bonds, Series E, 5.000% 11/01/44 | 1615000 | 1711996 |
|  |  | 8801648 |
| **North Carolina — 0.9%** |  |  |
| Charlotte-Mecklenburg Hospital Authority, NC | Charlotte-Mecklenburg Hospital Authority, NC | Charlotte-Mecklenburg Hospital Authority, NC |
| Revenue Bonds, 2.550% VMIG1 1/15/38 | 250000 | 250000 |
| Revenue Bonds, Series H, 2.550% VMIG1 1/15/48 | 300000 | 300000 |
|  |  | 550000 |
| **Ohio — 0.6%** |  |  |
| State of Ohio, Revenue Bonds, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.500% VMIG1 1/15/50 | 400000 | 400000 |
| **Oklahoma — 0.8%** |  |  |
| Oklahoma Water Resources Board, Revenue Bonds, Series A, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.000% 10/01/48 | 505000 | 476187 |
| **Pennsylvania — 6.5%** |  |  |
| Commonwealth of Pennsylvania, General Obligation, Series 2ND, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.000% 9/15/29 | 2300000 | 2336725 |
| Lehigh County General Purpose Authority, PA | Lehigh County General Purpose Authority, PA | Lehigh County General Purpose Authority, PA |
| Revenue Bonds, 5.000% 2/01/40 | 815000 | 842164 |
| Revenue Bonds, 5.000% 2/01/41 | 900000 | 921077 |
|  |  | 4099966 |
| **South Carolina — 3.5%** |  |  |
| South Carolina Public Service Authority | South Carolina Public Service Authority | South Carolina Public Service Authority |
| Revenue Bonds, Series B, 4.000% 12/01/38 | 1120000 | 1138319 |
| Revenue Bonds, Series A, 5.000% 12/01/40 | 1000000 | 1100913 |
|  |  | 2239232 |

---

***MML Clinton Municipal Fund (see Note 1) — Portfolio of Investments (Continued)***

---

| | | | |
|:---|:---|:---|:---|
| | **Principal <br>Amount** | **Principal <br>Amount** | **Value** |
| **Tennessee — 1.7%** |  |  |  |
| Metropolitan Government Nashville & Davidson County Sports Authority, TN, Revenue Bonds, Series A, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.000% 7/01/41 | $| 1000000 | $1076800 |
| **Texas — 33.0%** |  |  |  |
| Bexar County Hospital District, TX, General Obligation, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.000% 2/15/48 |  | 1500000 | 1556606 |
| Central Texas Turnpike System, TX, Revenue Bonds, Series C, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.000% 8/15/32 |  | 1115000 | 1262181 |
| City of San Antonio, TX, General Obligation, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.000% 2/01/26 |  | 2390000 | 2394761 |
| Clifton Higher Education Finance Corp., TX | Clifton Higher Education Finance Corp., TX | Clifton Higher Education Finance Corp., TX | Clifton Higher Education Finance Corp., TX |
| Revenue Bonds, Series A, 5.000% 2/15/34 | Revenue Bonds, Series A, 5.000% 2/15/34 | 1000000 | 1127623 |
| Revenue Bonds, Series A, 5.000% 8/15/34 | Revenue Bonds, Series A, 5.000% 8/15/34 | 1160000 | 1300351 |
| Revenue Bonds, 5.000% 8/15/36 | Revenue Bonds, 5.000% 8/15/36 | 1115000 | 1248576 |
| Conroe Independent School District, TX, General Obligation, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.000% 2/15/35 |  | 1000000 | 1164552 |
| County of Parker, TX, General Obligation, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.000% 2/15/40 |  | 1600000 | 1612226 |
| East Montgomery County Improvement District, TX, Sales Tax Revenue, Revenue Bonds, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.000% 8/15/38 |  | 1000000 | 1104785 |
| Hurst-Euless-Bedford Independent School District, TX, General Obligation, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.000% 8/15/40 |  | 2000000 | 2046246 |
| Montgomery Independent School District, TX, General Obligation, Series B, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.000% 2/15/41 |  | 1110000 | 1214587 |
| Tarrant County Cultural Education Facilities Finance Corp., TX, Revenue Bonds, Series A, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.000% 7/01/32 |  | 2200000 | 2424566 |
| Texas Water Development Board, Revenue Bonds, Series A, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.000% 10/15/39 |  | 2210000 | 2480442 |
|  |  |  | 20937502 |
| **Virginia — 2.8%** |  |  |  |
| Commonwealth of Virginia, General Obligation, Series A, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.000% 6/01/40 |  | 1715000 | 1783341 |
| **TOTAL MUNICIPAL OBLIGATIONS <br> (Cost $62,539,139)** | **TOTAL MUNICIPAL OBLIGATIONS <br> (Cost $62,539,139)** | **TOTAL MUNICIPAL OBLIGATIONS <br> (Cost $62,539,139)** | **62531084** |
| **TOTAL BONDS & NOTES <br> (Cost $62,539,139)** | **TOTAL BONDS & NOTES <br> (Cost $62,539,139)** | **TOTAL BONDS & NOTES <br> (Cost $62,539,139)** | **62531084** |
| **TOTAL LONG-TERM INVESTMENTS <br> (Cost $62,539,139)** | **TOTAL LONG-TERM INVESTMENTS <br> (Cost $62,539,139)** | **TOTAL LONG-TERM INVESTMENTS <br> (Cost $62,539,139)** | **62531084** |
| **TOTAL INVESTMENTS — 98.7% <br> (Cost $62,539,139) (a)** | **TOTAL INVESTMENTS — 98.7% <br> (Cost $62,539,139) (a)** | **TOTAL INVESTMENTS — 98.7% <br> (Cost $62,539,139) (a)** | **62531084** |
| **Other Assets/(Liabilities) — 1.3%** | **Other Assets/(Liabilities) — 1.3%** | **Other Assets/(Liabilities) — 1.3%** | **838655** |
| **NET ASSETS — 100.0%** | **NET ASSETS — 100.0%** | **NET ASSETS — 100.0%** | $**63369739** |

---

***MML Clinton Municipal Fund (see Note 1) — Portfolio of Investments (Continued)***

---

| | |
|:---|:---|
| **Notes to Portfolio of Investments** | **Notes to Portfolio of Investments** |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. |
| (a) | See Note 3 for aggregate cost for federal tax purposes. |

---

---

| |
|:---|
| **MML Clinton Municipal Credit Opportunities Fund (see Note 1) — Portfolio of Investments** |
| **December 31, 2025 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| | **Principal <br>Amount** | **Value** |
| **Bonds & Notes — 98.6%** |  |  |
| **Municipal Obligations — 98.6%** |  |  |
| **Alabama — 6.3%** |  |  |
| County of Jefferson, AL, Sewer Revenue, Revenue Bonds, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.250% 10/01/42 | $2250000 | $2419736 |
| Southeast Energy Authority A Cooperative District, AL, Revenue Bonds, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.000% 10/01/30 | 1000000 | 1074345 |
|  |  | 3494081 |
| **Arizona — 0.9%** |  |  |
| Maricopa County Industrial Development Authority, AZ, Revenue Bonds, Series D, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.000% 12/01/44 | 500000 | 518484 |
| **Colorado — 5.4%** |  |  |
| Colorado Educational & Cultural Facilities Authority, Revenue Bonds, Series A, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.500% 4/01/44 (a) | 1000000 | 1001202 |
| Colorado Health Facilities Authority, Revenue Bonds, Series A2, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.000% 8/01/44 | 2000000 | 2029096 |
|  |  | 3030298 |
| **Florida — 8.5%** |  |  |
| Florida Development Finance Corp., Revenue Bonds, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.000% 11/15/38 | 2000000 | 2010904 |
| Greater Orlando Aviation Authority, FL, Revenue Bonds, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.250% 10/01/43 | 1600000 | 1712598 |
| Palm Beach County Health Facilities Authority, FL, Revenue Bonds, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.000% 11/15/42 | 1010000 | 1048669 |
|  |  | 4772171 |
| **Georgia — 2.9%** |  |  |
| Private Colleges & Universities Authority, GA, Revenue Bonds, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.000% 4/01/44 | 1690000 | 1615830 |
| **Illinois — 16.3%** |  |  |
| Chicago Board of Education, IL, General Obligation, Series A, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.000% 12/01/40 | 1750000 | 1714331 |
| Chicago O'Hare International Airport, IL | Chicago O'Hare International Airport, IL | Chicago O'Hare International Airport, IL |
| Revenue Bonds, Series B, 5.000% 1/01/39 | 1375000 | 1392005 |
| Revenue Bonds, 5.000% 1/01/41 | 1170000 | 1285567 |
| City of Chicago, IL, General Obligation, Series A, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.000% 1/01/35 | 2400000 | 2311170 |
| State of Illinois, General Obligation, Series B, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.000% 5/01/41 | 2250000 | 2395473 |
|  |  | 9098546 |

---

***MML Clinton Municipal Credit Opportunities Fund (see Note 1) — Portfolio of Investments (Continued)***

---

| | | |
|:---|:---|:---|
| | **Principal <br>Amount** | **Value** |
| **Indiana — 2.8%** |  |  |
| Indiana Finance Authority, Revenue Bonds, Series A, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.500% 3/01/44 | $1500000 | $1576429 |
| **Missouri — 1.8%** |  |  |
| Lees Summit Industrial Development Authority, MO, Revenue Bonds, Series A, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.000% 8/15/39 | 1000000 | 1031295 |
| **Nebraska — 3.9%** |  |  |
| Central Plains Energy Project, NE, Revenue Bonds, Series A, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.000% 9/01/32 | 2000000 | 2192893 |
| **New York — 22.8%** |  |  |
| City of New York, NY, General Obligation, Series C, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.000% 8/01/40 | 2425000 | 2426827 |
| Dutchess County Local Development Corp., NY, Revenue Bonds, Series A, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.000% 7/01/51 | 2375000 | 2318845 |
| Empire State Development Corp., NY, Revenue Bonds, Series A, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.000% 3/15/43 | 2240000 | 2173294 |
| Metropolitan Transportation Authority, NY | Metropolitan Transportation Authority, NY | Metropolitan Transportation Authority, NY |
| Revenue Bonds, Series B, 5.000% 11/15/43 | 800000 | 851421 |
| Revenue Bonds, Series A, 5.250% 11/15/49 | 1500000 | 1570697 |
| New York State Dormitory Authority | New York State Dormitory Authority | New York State Dormitory Authority |
| Revenue Bonds, 5.000% 7/01/40 | 1850000 | 1969924 |
| Revenue Bonds, 5.000% 5/01/43 | 1025000 | 1079804 |
| New York Transportation Development Corp., Revenue Bonds, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.000% 6/30/50 | 300000 | 318940 |
|  |  | 12709752 |
| **North Carolina — 4.7%** |  |  |
| Charlotte-Mecklenburg Hospital Authority, NC, Revenue Bonds, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.550% VMIG1 1/15/38 | 600000 | 600000 |
| North Carolina Medical Care Commission, Revenue Bonds, Series A, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.125% 10/01/54 | 2000000 | 1996842 |
|  |  | 2596842 |
| **Pennsylvania — 5.3%** |  |  |
| Lehigh County General Purpose Authority, PA | Lehigh County General Purpose Authority, PA | Lehigh County General Purpose Authority, PA |
| Revenue Bonds, 5.000% 2/01/41 | 480000 | 491241 |
| Revenue Bonds, 5.000% 2/01/42 | 1445000 | 1470536 |
| Philadelphia Authority for Industrial Development, PA, Revenue Bonds, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.000% 6/15/39 (a) | 1000000 | 1014529 |
|  |  | 2976306 |
| **South Carolina — 3.6%** |  |  |
| South Carolina Public Service Authority, Revenue Bonds, Series A, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.250% 12/01/50 | 1900000 | 1996876 |

---

***MML Clinton Municipal Credit Opportunities Fund (see Note 1) — Portfolio of Investments (Continued)***

---

| | | | |
|:---|:---|:---|:---|
| | **Principal <br>Amount** | **Principal <br>Amount** | **Value** |
| **Tennessee — 3.9%** |  |  |  |
| Shelby County Health Educational & Housing Facilities Board, TN, Revenue Bonds, Series A, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.250% 9/01/39 | $| 2000000 | $2160211 |
| **Texas — 9.5%** |  |  |  |
| Arlington Higher Education Finance Corp., TX, Revenue Bonds, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.750% 6/15/55 (a) |  | 1000000 | 1008780 |
| Texas Municipal Gas Acquisition & Supply Corp. VI, Revenue Bonds, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.000% 1/01/36 |  | 2110000 | 2258063 |
| Texas Private Activity Bond Surface Transportation Corp., Revenue Bonds, Series A, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.000% 12/31/35 |  | 2000000 | 2035248 |
|  |  |  | 5302091 |
| **TOTAL MUNICIPAL OBLIGATIONS <br> (Cost $55,528,405)** | **TOTAL MUNICIPAL OBLIGATIONS <br> (Cost $55,528,405)** | **TOTAL MUNICIPAL OBLIGATIONS <br> (Cost $55,528,405)** | **55072105** |
| **TOTAL BONDS & NOTES <br> (Cost $55,528,405)** | **TOTAL BONDS & NOTES <br> (Cost $55,528,405)** | **TOTAL BONDS & NOTES <br> (Cost $55,528,405)** | **55072105** |
| **TOTAL LONG-TERM INVESTMENTS <br> (Cost $55,528,405)** | **TOTAL LONG-TERM INVESTMENTS <br> (Cost $55,528,405)** | **TOTAL LONG-TERM INVESTMENTS <br> (Cost $55,528,405)** | **55072105** |
| **Short-Term Investments — 0.3%** |  |  |  |
| **Repurchase Agreement — 0.3%** |  |  |  |
| Fixed Income Clearing Corp., Repurchase Agreement, dated 12/31/25, 2.000%, due 1/02/26 (b) |  | 175601 | 175601 |
| **TOTAL SHORT-TERM INVESTMENTS <br> (Cost $175,601)** | **TOTAL SHORT-TERM INVESTMENTS <br> (Cost $175,601)** | **TOTAL SHORT-TERM INVESTMENTS <br> (Cost $175,601)** | **175601** |
| **TOTAL INVESTMENTS — 98.9% <br> (Cost $55,704,006) (c)** | **TOTAL INVESTMENTS — 98.9% <br> (Cost $55,704,006) (c)** | **TOTAL INVESTMENTS — 98.9% <br> (Cost $55,704,006) (c)** | **55247706** |
| **Other Assets/(Liabilities) — 1.1%** | **Other Assets/(Liabilities) — 1.1%** | **Other Assets/(Liabilities) — 1.1%** | **588769** |
| **NET ASSETS — 100.0%** | **NET ASSETS — 100.0%** | **NET ASSETS — 100.0%** | $**55836475** |

---

---

| | |
|:---|:---|
| **Notes to Portfolio of Investments** | **Notes to Portfolio of Investments** |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. |
| (a) | Security is exempt from registration under Regulation S or Rule 144A of the Securities Act of 1933. These securities are considered restricted and may be resold in transactions exempt from registration. At December 31, 2025, the aggregate market value of these securities amounted to $3,024,511 or 5.42% of net assets. |
| (b) | Maturity value of $175,620. Collateralized by U.S. Government Agency obligations with a rate of 3.875%, maturity date of 5/31/27, and an aggregate market value, including accrued interest, of $179,188. |
| (c) | See Note 3 for aggregate cost for federal tax purposes. |

---

---

| |
|:---|
| **MML Barings Global Floating Rate Fund (see Note 1) — Portfolio of Investments** |
| **December 31, 2025 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
|  | **Number of<br> Shares** | **Value** |
| **Equities — 1.0%** |  |  |
| **Common Stock — 1.0%** |  |  |
| **Communication Services — 0.2%** |  |  |
| Learfield Communications, Inc. (a) | 2805 | $314160 |
| Technicolor Creative Studios, Inc. (a) (b) (c) | 81756222 |  |
| Technicolor Creative Studios, Inc. (TCHCS FP) (a) (b) (c) | 39285 |  |
|  |  | 314160 |
| **Consumer Discretionary — 0.4%** |  |  |
| HRN Bidco AS (a) | 10600 | 252381 |
| HX Bidco AS (a) | 2135 | 14390 |
| Serta Simmons, Inc. (a) | 22009 | 203583 |
|  |  | 470354 |
| **Consumer Staples — 0.4%** |  |  |
| CTI Foods Holding Co. LLC (a) (b) (c) | 8019 | 550344 |
| **Financials — 0.0%** |  |  |
| Campfire Topco Ltd. (a) (b) (c) | 1484798 |  |
| Jubilee Topco Ltd., A1 shares (a) (b) (c) | 689 |  |
| Jubilee Topco Ltd., A2 shares (a) (b) (c) | 335454 |  |
| Jubilee Topco Ltd., A3 shares (a) (b) (c) | 215760 |  |
| Jubilee Topco Ltd., A4 shares (a) (b) (c) | 180109 |  |
| **Health Care — 0.0%** |  |  |
| Don Jersey Topco Ltd. (a) (b) (c) | 353106 |  |
| **Information Technology — 0.0%** |  |  |
| Travelex Topco Ltd. (a) (b) (c) | 3524 |  |
| **TOTAL COMMON STOCK <br> (Cost $1,432,025)** | **TOTAL COMMON STOCK <br> (Cost $1,432,025)** | **1334858** |
| **PREFERRED STOCK — 0.0%** |  |  |
| **Financials — 0.0%** |  |  |
| Veritas Kapital Assurance PLC, Series G (a) | 266 | 6251 |
| Veritas Kapital Assurance PLC, Series G-1 (a) | 184 | 4232 |
|  |  | 10483 |
| **TOTAL PREFERRED STOCK <br> (Cost $7,063)** | **TOTAL PREFERRED STOCK <br> (Cost $7,063)** | **10483** |
| **TOTAL EQUITIES <br> (Cost $1,439,088)** | **TOTAL EQUITIES <br> (Cost $1,439,088)** | **1345341** |

---

**MML Barings Global Floating Rate Fund (see Note 1) — Portfolio of Investments (Continued)**

---

| | | |
|:---|:---|:---|
| | **Principal <br>Amount** | **Value** |
| **Bonds & Notes — 91.8%** |  |  |
| **Bank Loans — 83.4%** |  |  |
| **Advertising — 0.5%** |  |  |
| Clear Channel Outdoor Holdings, Inc., 2024 Term Loan, 1 mo. USD Term SOFR + 4.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.831% VRN 8/23/28 (d) | $436761 | $436997 |
| Planet US Buyer LLC, 2024 Term Loan B, 3 mo. USD Term SOFR + 3.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.822% VRN 2/07/31 (d) | 223019 | 224292 |
|  |  | 661289 |
| **Aerospace & Defense — 0.8%** |  |  |
| Barnes Group, Inc., 2025 Term Loan B, 1 mo. USD Term SOFR + 2.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.466% VRN 1/27/32 (d) | 263372 | 263811 |
| TransDigm, Inc. | TransDigm, Inc. | TransDigm, Inc. |
| 2023 Term Loan J, 1 mo. USD Term SOFR + 2.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.216% VRN 2/28/31 (d) | 348430 | 349615 |
| 2024 Term Loan L, 1 mo. USD Term SOFR + 2.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.216% VRN 1/19/32 (d) | 374053 | 375441 |
|  |  | 988867 |
| **Airlines — 1.0%** |  |  |
| Air Canada, 2024 Term Loan B, 1 mo. USD Term SOFR + 2.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.716% VRN 3/21/31 (d) | 125875 | 126504 |
| American Airlines, Inc., 2025 Term Loan, 3 mo. USD Term SOFR + 2.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.134% VRN 4/20/28 (d) | 655174 | 656320 |
| United Airlines, Inc., 2024 1st Lien Term Loan B, 1 mo. USD Term SOFR + 2.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.732% VRN 2/22/31 (d) | 460402 | 461843 |
|  |  | 1244667 |
| **Auto Parts & Equipment — 0.3%** |  |  |
| Clarios Global LP, 2025 USD Term Loan B, 1 mo. USD Term SOFR + 2.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.466% VRN 1/28/32 (d) | 337565 | 338831 |
| **Banks — 0.6%** |  |  |
| AqGen Island Holdings, Inc., 2024 Term Loan B, 1 mo. USD Term SOFR + 3.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.716% VRN 11/24/32 (d) | 818493 | 817061 |
| **Beverages — 0.4%** |  |  |
| Sazerac Co., Inc., Term Loan B, 1 mo. USD Term SOFR + 2.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.500% VRN 7/09/32 (d) | 522838 | 523345 |
| **Biotechnology — 0.4%** |  |  |
| Advanz Pharma Corp., 2024 EUR Term Loan B, 1 mo. EURIBOR + 4.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.151% VRN 10/22/31 EUR (d) (e) | 300000 | 355733 |
| Genmab AS, Term Loan B, 3 mo. USD Term SOFR + 3.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.733% VRN 12/13/32 (d) | 195701 | 196558 |
|  |  | 552291 |

---

**MML Barings Global Floating Rate Fund (see Note 1) — Portfolio of Investments (Continued)**

---

| | | |
|:---|:---|:---|
| | **Principal <br>Amount** | **Value** |
| **Building Materials — 1.3%** |  |  |
| CP Atlas Buyer, Inc., 2025 Term Loan, 1 mo. USD Term SOFR + 5.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.966% VRN 7/08/30 (d) | $130002 | $125452 |
| Emrld Borrower LP, Term Loan B, 3 mo. USD Term SOFR + 2.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.072% VRN 5/31/30 (d) | 710545 | 711930 |
| MI Windows and Doors LLC, 2024 Term Loan B2, 1 mo. USD Term SOFR + 2.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.466% VRN 3/28/31 (d) | 165277 | 165226 |
| Wilsonart LLC, 2024 Term Loan B, 3 mo. USD Term SOFR + 4.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.922% VRN 8/05/31 (d) | 715321 | 692073 |
|  |  | 1694681 |
| **Chemicals — 4.1%** |  |  |
| AAP Buyer, Inc., Term Loan B, 1 mo. USD Term SOFR + 2.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.466% VRN 9/09/31 (d) | 174091 | 174636 |
| AI Sirona (Luxembourg) Acquisition SARL, 2021 EUR 1st Lien Term Loan B, 6 mo. EURIBOR + 4.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.664% VRN 12/18/28 EUR (d) (e) | 1000000 | 460009 |
| CPC Acquisition Corp., Term Loan, 3 mo. USD Term SOFR + 3.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.684% VRN 12/29/27 (d) | 305914 | 251807 |
| Flint Group Packaging INKS North America Holdings LLC | Flint Group Packaging INKS North America Holdings LLC | Flint Group Packaging INKS North America Holdings LLC |
| EUR PIK 2nd Lien Holdco Term Loan, 3 mo. EURIBOR + 0.100%, PIK 6.900%, Cash, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.138% VRN 12/30/28 EUR (d) (e) | 293106 | 18084 |
| EUR PIK Holdco Term Loan, 3 mo. EURIBOR + 0.100%, PIK 6.900%, Cash, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.138% VRN 12/30/28 EUR (d) (e) | 219794 | 182877 |
| Flint Group Topco Ltd. | Flint Group Topco Ltd. | Flint Group Topco Ltd. |
| USD First Lien HoldCo Facility, 3 mo. USD Term SOFR + 0.100%, PIK 6.900%, Cash, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.221% VRN 12/30/27 (d) | 1362422 | 962551 |
| USD Second Lien HoldCo Facility, 3 mo. USD Term SOFR + 0.100%, PIK 6.900%, Cash, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.221% VRN 12/31/27 (d) | 1816863 | 101744 |
| Fortis 333, Inc., USD Term Loan B, 3 mo. USD Term SOFR + 3.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.172% VRN 3/29/32 (d) | 129896 | 128402 |
| INEOS Quattro Holdings UK Ltd., 2023 EUR 1st Lien Term Loan B, 1 mo. EURIBOR + 4.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.401% VRN 4/02/29 EUR (d) (e) | 500000 | 409264 |
| New Arclin US Holding Corp., 2021 Term Loan (Acquired 3/15/23-5/22/24, Cost $314,395), 1 mo. USD Term SOFR + 3.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.316% VRN 9/30/28 (d) (f) | 318798 | 318399 |
| Nobian Finance BV, 2025 EUR Term Loan B, 3 mo. EURIBOR + 3.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.526% VRN 7/01/30 EUR (d) (e) | 650000 | 728933 |
| Nouryon Finance BV, 2024 USD Term Loan B2, 3 mo. USD Term SOFR + 3.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.162% VRN 4/03/28 (d) | 214312 | 214110 |
| PMHC II, Inc., 2022 Term Loan B, 3 mo. USD Term SOFR + 4.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.327% VRN 4/23/29 (d) | 1041448 | 573380 |
| Polar US Borrower LLC, 2024 Term Loan B1A (Acquired 9/18/24-7/28/25, Cost $413,744), 3 mo. USD Term SOFR + 5.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;9.459% VRN 10/16/28 (d) (f) | 512539 | 35237 |

---

**MML Barings Global Floating Rate Fund (see Note 1) — Portfolio of Investments (Continued)**

---

| | | |
|:---|:---|:---|
| | **Principal <br>Amount** | **Value** |
| SCIH Salt Holdings, Inc., 2025 Repriced Term Loan B, 3 mo. USD Term SOFR + 2.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.522% VRN 1/31/29 (d) | $629143 | $630061 |
|  |  | 5189494 |
| **Commercial Services — 6.7%** |  |  |
| Astro Acquisition LLC, 2025 Term Loan B, 6 mo. USD Term SOFR + 3.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.122% VRN 8/30/32 (d) | 154321 | 155286 |
| Belron Finance 2019 LLC, 2025 Repriced Term Loan B, 3 mo. USD Term SOFR + 2.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.120% VRN 10/16/31 (d) | 651114 | 654369 |
| BIFM US Finance LLC, 2025 Repriced Term Loan B, 1 mo. USD Term SOFR + 3.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.966% VRN 5/31/28 (d) | 218807 | 220083 |
| Boost Newco Borrower LLC, 2025 USD Term Loan B2, 3 mo. USD Term SOFR + 2.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.672% VRN 1/31/31 (d) | 546180 | 546524 |
| Ensemble RCM LLC, 2024 Term Loan B, 3 mo. USD Term SOFR + 3.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.840% VRN 8/01/29 (d) | 637654 | 640415 |
| Fleet Midco I Ltd., 2024 1st Lien Term Loan B, 6 mo. USD Term SOFR + 2.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.792% VRN 2/21/31 (d) | 179654 | 180328 |
| Fugue Finance BV, 2025 EUR Term Loan B, 3 mo. EURIBOR + 3.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.317% VRN 1/09/32 EUR (d) (e) | 1000000 | 1184508 |
| ION Platform Finance US, Inc., USD Term Loan, 3 mo. USD Term SOFR + 3.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.422% VRN 10/07/32 (d) | 750000 | 702052 |
| Mavis Tire Express Services Corp., 2025 Repriced Term Loan, 1 mo. USD Term SOFR + 3.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.716% VRN 5/04/28 (d) | 731324 | 733665 |
| Medical Solutions Holdings, Inc. | Medical Solutions Holdings, Inc. | Medical Solutions Holdings, Inc. |
| 2021 1st Lien Term Loan (Acquired 7/07/22-11/01/22, Cost $9,899), 3 mo. USD Term SOFR + 3.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.440% VRN 11/01/28 (d) (f) | 9899 | 2090 |
| 2021 2nd Lien Term Loan (Acquired 9/24/21, Cost $293,318), 3 mo. USD Term SOFR + 7.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;10.940% VRN 11/01/29 (d) (f) | 294737 | 59832 |
| OMNIA Partners LLC, 2024 Term Loan B, 3 mo. USD Term SOFR + 2.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.455% VRN 12/31/32 (d) | 272522 | 273350 |
| PAREXEL International Corp., 2025 Repriced Term Loan B, 1 mo. USD Term SOFR + 2.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.466% VRN 12/12/31 (d) | 742466 | 744478 |
| Pye-Barker Fire & Safety LLC, 2025 Term Loan, 3 mo. USD Term SOFR + 2.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.205% VRN 12/16/32 (d) | 173257 | 174268 |
| Raven Acquisition Holdings LLC, Term Loan B, 1 mo. USD Term SOFR + 3.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.716% VRN 11/19/31 (d) | 382086 | 383159 |
| Spin Holdco, Inc., 2021 Term Loan, 3 mo. USD Term SOFR + 4.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.022% VRN 3/04/28 (d) | 631760 | 485666 |
| Tunstall Group Holdings Ltd., 2025 EUR Incremental Super Senior Term Loan (Acquired 5/27/25, Cost $45,473), 6 mo. EURIBOR + 3.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.117% VRN 12/18/26 EUR (b) (c) (d) (e) (f) | 44141 | 48399 |

---

**MML Barings Global Floating Rate Fund (see Note 1) — Portfolio of Investments (Continued)**

---

| | | |
|:---|:---|:---|
| | **Principal <br>Amount** | **Value** |
| Verisure Holding AB, 2025 EUR Term Loan B, 3 mo. EURIBOR + 2.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.300% VRN 11/03/32 EUR (d) (e) | $500000 | $590802 |
| Wand NewCo 3, Inc., 2025 Repriced Term Loan B, 1 mo. USD Term SOFR + 2.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.216% VRN 1/30/31 (d) | 771169 | 771578 |
|  |  | 8550852 |
| **Computers — 3.1%** |  |  |
| Ahead DB Holdings LLC, 2024 Term Loan B4, 3 mo. USD Term SOFR + 2.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.172% VRN 2/03/31 (d) | 319083 | 318429 |
| Bingo Holdings I LLC, Term Loan B, 3 mo. USD Term SOFR + 4.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.422% VRN 6/30/32 (d) | 453840 | 444763 |
| Clover Holdings 2 LLC, Term Loan B, 1 mo. USD Term SOFR + 3.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.522% VRN 12/09/31 (d) | 578877 | 578332 |
| Fortress Intermediate 3, Inc., 2025 Term Loan B, 1 mo. USD Term SOFR + 3.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.784% VRN 6/27/31 (d) | 154387 | 154244 |
| Foundever Worldwide Corp., 2021 USD Term Loan, 3 mo. USD Term SOFR + 3.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.684% VRN 8/28/28 (d) | 684330 | 266889 |
| McAfee LLC, 2024 USD 1st Lien Term Loan B, 1 mo. USD Term SOFR + 3.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.716% VRN 3/01/29 (d) | 620200 | 570392 |
| Ping Identity Corp., 2025 Term Loan, 3 mo. USD Term SOFR + 2.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.625% VRN 11/15/32 (d) | 149733 | 149920 |
| Trio Bidco, Inc., 2025 Term Loan B, 3 mo. USD Term SOFR + 4.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.672% VRN 10/29/32 (d) | 230894 | 231279 |
| Vision Solutions, Inc., 2021 Incremental Term Loan, 3 mo. USD Term SOFR + 4.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.102% VRN 4/24/28 (d) | 679865 | 629384 |
| X Corp., Term Loan, 3 mo. USD Term SOFR + 6.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;10.448% VRN 10/26/29 (d) | 572832 | 562195 |
|  |  | 3905827 |
| **Cosmetics & Personal Care — 0.2%** |  |  |
| Journey Personal Care Corp., 2024 Term Loan B, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.000% 3/01/28 (g) | 215662 | 214584 |
| **Diversified Financial Services — 2.3%** |  |  |
| Advisor Group, Inc., 2025 Term Loan, 6 mo. USD Term SOFR + 3.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.595% VRN 8/02/32 (d) | 485862 | 487592 |
| CPI Holdco B LLC, 2025 Add-on Term Loan B, 1 mo. USD Term SOFR + 2.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.916% VRN 5/17/31 (d) | 249262 | 249713 |
| Franklin Square Holdings LP, 2024 Term Loan B (Acquired 4/18/24, Cost $466,174), 1 mo. USD Term SOFR + 2.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.966% VRN 4/25/31 (d) (f) | 467063 | 453051 |
| GTCR Everest Borrower LLC, Add on Term Loan B, 3 mo. USD Term SOFR + 2.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.422% VRN 9/05/31 (d) | 187030 | 187653 |

---

**MML Barings Global Floating Rate Fund (see Note 1) — Portfolio of Investments (Continued)**

---

| | | |
|:---|:---|:---|
| | **Principal <br>Amount** | **Value** |
| LSF10 XL Bidco SCA, 2025 EUR Term Loan B5, 3 mo. EURIBOR + 4.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.768% VRN 4/30/31 EUR (d) (e) | $1000000 | $1188573 |
| OID-OL Intermediate I LLC | OID-OL Intermediate I LLC | OID-OL Intermediate I LLC |
| Term Loan 2, 3 mo. USD Term SOFR + 4.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.240% VRN 2/01/29 (d) | 159615 | 132548 |
| Term Loan 1, 3 mo. USD Term SOFR + 6.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;9.840% VRN 2/01/29 (d) | 104763 | 107338 |
| Victory Capital Holdings, Inc., 2025 Term Loan, 3 mo. USD Term SOFR + 2.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.672% VRN 9/23/32 (d) | 120035 | 120557 |
|  |  | 2927025 |
| **Electric — 1.2%** |  |  |
| Alpha Generation LLC, Term Loan B, 1 mo. USD Term SOFR + 2.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.716% VRN 9/30/31 (d) | 220301 | 220874 |
| Calpine Corp., 2024 Term Loan B10, 1 mo. USD Term SOFR + 1.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.466% VRN 1/31/31 (d) | 248750 | 248723 |
| Constellation Renewables LLC, 2020 Term Loan, 3 mo. USD Term SOFR + 2.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.822% VRN 12/15/27 (d) | 744561 | 746735 |
| EFS Cogen Holdings I LLC, 2025 Term Loan B, 3 mo. USD Term SOFR + 3.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.672% VRN 10/03/31 (d) | 115618 | 116443 |
| Kohler Energy Co. LLC, USD Term Loan B, 3 mo. USD Term SOFR + 3.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.422% VRN 5/01/31 (d) | 180974 | 181788 |
|  |  | 1514563 |
| **Electrical Components & Equipment — 0.3%** |  |  |
| SGB-SMIT Management GmbH, EUR Term Loan B, 1 mo. EURIBOR + 4.000%, PIK 1.000%, Cash, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.884% VRN 4/18/28 EUR (d) (e) | 287817 | 341203 |
| **Electronics — 0.6%** |  |  |
| LSF12 Crown US Commercial Bidco LLC, 2025 Term Loan B, 1 mo. USD Term SOFR + 3.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.373% VRN 12/02/31 (d) | 557580 | 560541 |
| MV Holding GmbH, 2025 USD Term Loan B, 1 mo. USD Term SOFR + 2.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.721% VRN 3/17/32 (d) | 110951 | 111136 |
| Pinnacle Buyer LLC, Term Loan, 3 mo. USD Term SOFR + 2.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.485% VRN 10/01/32 (d) | 88054 | 88329 |
|  |  | 760006 |
| **Engineering & Construction — 1.7%** |  |  |
| Brown Group Holding LLC | Brown Group Holding LLC | Brown Group Holding LLC |
| Term Loan B, 1 mo. USD Term SOFR + 2.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.216% VRN 7/01/31 (d) | 188189 | 189046 |
| 2022 Incremental Term Loan B2, 1 mo. USD Term SOFR + 2.750%, 3 mo. USD Term SOFR + 2.750%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.466% - 6.590% VRN 7/01/31 (d) | 297543 | 298876 |

---

**MML Barings Global Floating Rate Fund (see Note 1) — Portfolio of Investments (Continued)**

---

| | | |
|:---|:---|:---|
| | **Principal <br>Amount** | **Value** |
| DG Investment Intermediate Holdings 2, Inc., 2025 Term Loan, 1 mo. USD Term SOFR + 3.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.466% VRN 7/09/32 (d) | $320003 | $320003 |
| Green Infrastructure Partners, Inc., USD Term Loan B, 3 mo. USD Term SOFR + 2.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.427% VRN 9/24/32 (d) | 456635 | 456635 |
| KKR Apple Bidco LLC, 2025 Term Loan, 1 mo. USD Term SOFR + 2.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.216% VRN 9/23/31 (d) | 260738 | 262005 |
| Newly Weds Foods, Inc., Term Loan B, 1 mo. USD Term SOFR + 2.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.984% VRN 3/15/32 (d) | 233736 | 233638 |
| TRC Companies LLC, 2025 Term Loan B, 1 mo. USD Term SOFR + 3.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.716% VRN 12/08/28 (d) | 457600 | 458603 |
|  |  | 2218806 |
| **Entertainment — 3.5%** |  |  |
| CTI Foods Holding Co. LLC | CTI Foods Holding Co. LLC | CTI Foods Holding Co. LLC |
| 2024 2nd Lien 1st Out Incremental TL, 3 mo. USD Term SOFR + 10.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;14.130% VRN 5/01/26 (b) (c) (d) | 100395 | 100395 |
| 2024 2nd Lien 1st Out Term Loan, 3 mo. USD Term SOFR + 10.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;14.130% VRN 3/15/27 (b) (c) (d) | 203673 | 203673 |
| EOC Borrower LLC, Term Loan B, 1 mo. USD Term SOFR + 3.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.716% VRN 3/24/32 (d) | 260572 | 261729 |
| Flutter Financing BV, 2025 Term Loan B, 3 mo. USD Term SOFR + 2.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.672% VRN 6/04/32 (d) | 521715 | 521715 |
| J&J Ventures Gaming LLC, 2025 Repriced Term Loan B, 1 mo. USD Term SOFR + 3.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.216% VRN 4/26/30 (d) | 600625 | 595652 |
| Motion Finco SARL, 2023 EUR Term Loan B, 3 mo. EURIBOR + 3.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.769% VRN 11/12/29 EUR (d) (e) | 1000000 | 1042203 |
| Scientific Games Holdings LP, 2024 USD Term Loan B, 3 mo. USD Term SOFR + 3.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.934% VRN 4/04/29 (d) | 659914 | 647462 |
| Technicolor Creative Studios, Inc. | Technicolor Creative Studios, Inc. | Technicolor Creative Studios, Inc. |
| EUR PIK Super Senior Term Loan, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.000% 3/31/26 EUR (b) (c) (e) (h) | 110963 |  |
| EUR PIK Tranche 2 Note Term Loan, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.000% 3/31/26 EUR (b) (c) (e) (h) | 79190 |  |
| EUR Tranche 4 Term Loan, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.000% 3/31/26 EUR (b) (c) (e) (h) | 45514 |  |
| 2023 EUR PIK Reinstated Term Loan B, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.000% 9/15/26 EUR (e) (h) | 261906 | 1539 |
| 2023 EUR PIK Term Loan, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.000% 3/28/33 EUR (b) (c) (e) (h) | 246435 |  |
| EUR PIK Tranche 3 Note Term Loan, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.000% 3/31/26 EUR (b) (c) (e) (h) | 39403 |  |
| TKO Worldwide Holdings LLC, 2025 Term Loan, 3 mo. USD Term SOFR + 2.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.869% VRN 11/21/31 (d) | 136593 | 137142 |
| Voyager Parent LLC, Term Loan B, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.000% 7/01/32 (g) | 191618 | 191518 |

---

**MML Barings Global Floating Rate Fund (see Note 1) — Portfolio of Investments (Continued)**

---

| | | |
|:---|:---|:---|
| | **Principal <br>Amount** | **Value** |
| Vue Entertainment International Ltd. |  |  |
| 2023 EUR Floating PIK Reinstated Term Loan B, 6 mo. EURIBOR + 0.000%, PIK 8.000%, Cash, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.103% VRN 12/31/27 EUR (d) (e) | $279257 | $206755 |
| 2023 EUR Floating PIK Term Loan, 6 mo. EURIBOR + 0.100%, PIK 8.400%, Cash, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.203% VRN 12/31/27 EUR (d) (e) | 178218 | 201064 |
| 2023 EUR Floating PIK Super Senior Term Loan, 6 mo. EURIBOR + 8.000%, PIK 1.000%, Cash, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;10.103% VRN 6/30/27 EUR (d) (e) | 95943 | 116135 |
| Vue International Bidco PLC, 2022 EUR Term Loan, 6 mo. EURIBOR + 8.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;10.103% VRN 6/30/27 EUR (d) (e) | 146160 | 172627 |
|  |  | 4399609 |
| **Food — 2.0%** |  |  |
| Chobani, LLC, 2025 Term Loan B, 1 mo. USD Term SOFR + 2.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.966% VRN 10/28/32 (d) | 600000 | 602400 |
| CTI Foods Holding Co. LLC | CTI Foods Holding Co. LLC | CTI Foods Holding Co. LLC |
| 2nd Lien 2nd Out Term Loan, 3 mo. USD Term SOFR + 7.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;11.130% VRN 5/01/26 (d) | 381447 | 381199 |
| 2nd Lien 3rd Out Term Loan, 3 mo. USD Term SOFR + 9.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;13.130% VRN 5/01/26 (d) | 262147 | 248869 |
| Froneri Lux Finco SARL, 2024 EUR Term Loan B3, 6 mo. EURIBOR + 2.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.833% VRN 9/30/31 EUR (d) (e) | 1000000 | 1176281 |
| Savor Acquisition, Inc., Term Loan B, 3 mo. USD Term SOFR + 3.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.723% - 6.840% VRN 2/19/32 (d) | 100044 | 100377 |
|  |  | 2509126 |
| **Gas — 0.1%** |  |  |
| Meade Pipeline Co. LLC, Term Loan B, 3 mo. USD Term SOFR + 2.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.695% VRN 9/22/32 (d) | 109522 | 110069 |
| **Hand & Machine Tools — 0.1%** |  |  |
| Madison Safety & Flow LLC, 2025 1st Lien Term Loan B, 1 mo. USD Term SOFR + 2.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.227% VRN 9/26/31 (d) | 97823 | 98414 |
| **Health Care - Products — 0.6%** |  |  |
| Bausch & Lomb Corp., 2025 Term Loan B, 1 mo. USD Term SOFR + 4.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.966% VRN 1/15/31 (d) | 185241 | 186908 |
| Medline Borrower LP, 2025 Term Loan B, 1 mo. USD Term SOFR + 1.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.466% VRN 10/23/28 (d) | 208508 | 209069 |
| QuidelOrtho Corp., Term Loan, 1 mo. USD Term SOFR + 4.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.716% VRN 8/20/32 (d) | 343177 | 342748 |
|  |  | 738725 |
| **Health Care - Services — 4.8%** |  |  |
| Aveanna Healthcare LLC, 2025 Term Loan B, 1 mo. USD Term SOFR + 3.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.466% VRN 9/17/32 (d) | 482175 | 484697 |

---

**MML Barings Global Floating Rate Fund (see Note 1) — Portfolio of Investments (Continued)**

---

| | | |
|:---|:---|:---|
| | **Principal <br>Amount** | **Value** |
| Charlotte Buyer, Inc., 2025 Repriced Term Loan B, 1 mo. USD Term SOFR + 4.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.011% VRN 2/11/28 (d) | $642766 | $630412 |
| Concentra Health Services, Inc., 2025 Repriced Term Loan B, 1 mo. USD Term SOFR + 2.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.716% VRN 7/26/31 (d) | 379365 | 381736 |
| Electron BidCo, Inc., 2021 Term Loan, 1 mo. USD Term SOFR + 2.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.216% VRN 11/01/28 (d) | 416367 | 418283 |
| Global Medical Response, Inc., 2025 Term Loan B, 3 mo. USD Term SOFR + 3.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.384% VRN 10/01/32 (d) | 277778 | 279353 |
| Heartland Dental LLC, 2025 Term Loan, 1 mo. USD Term SOFR + 3.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.466% VRN 8/25/32 (d) | 488819 | 490486 |
| LifePoint Health, Inc., 2024 1st Lien Term Loan B (Acquired 9/12/24-12/11/24, Cost $636,281), 3 mo. USD Term SOFR + 3.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.655% VRN 5/19/31 (d) (f) | 636674 | 638431 |
| Midwest Physician Administrative Services LLC, 2021 Term Loan, 3 mo. USD Term SOFR + 3.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.934% VRN 3/12/28 (d) (g) | 698616 | 632443 |
| NAPA Management Services Corp., Term Loan B, 1 mo. USD Term SOFR + 5.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;9.066% VRN 2/23/29 (d) | 705222 | 485940 |
| Radiology Partners, Inc., 2025 Term Loan, 3 mo. USD Term SOFR + 4.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.172% VRN 6/30/32 (d) | 960058 | 957360 |
| Select Medical Corp., 2024 Term Loan B, 1 mo. USD Term SOFR + 2.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.716% VRN 12/03/31 (d) | 175584 | 175145 |
| Star Parent, Inc., Term Loan B, 3 mo. USD Term SOFR + 4.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.672% VRN 9/27/30 (d) | 192923 | 193073 |
| Tunstall Group Holdings Ltd. | Tunstall Group Holdings Ltd. | Tunstall Group Holdings Ltd. |
| 2023 EUR Reinstated Term Loan B (Acquired 11/30/23-11/28/25, Cost $411,759), 6 mo. EURIBOR + 0.100%, PIK 4.900%, Cash, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.217% VRN 12/20/27 EUR (b) (c) (d) (e) (f) | 391261 | 195419 |
| 2023 EUR Super Senior Term Loan (Acquired 11/30/23-11/28/25, Cost $158,013), 6 mo. EURIBOR + 12.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;14.117% VRN 12/18/26 EUR (b) (c) (d) (e) (f) | 146025 | 160110 |
|  |  | 6122888 |
| **Insurance — 4.4%** |  |  |
| Alliant Holdings Intermediate, LLC, 2025 Term Loan B, 1 mo. USD Term SOFR + 2.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.216% VRN 9/19/31 (d) | 942329 | 944195 |
| AmWINS Group, Inc., 2025 Term Loan B, 1 mo. USD Term SOFR + 2.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.966% VRN 1/30/32 (d) | 315205 | 315993 |
| Asurion LLC | Asurion LLC | Asurion LLC |
| 2024 Term Loan B12, 1 mo. USD Term SOFR + 4.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.966% VRN 9/19/30 (d) | 432972 | 432769 |
| 2021 Second Lien Term Loan B4, 1 mo. USD Term SOFR + 5.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;9.081% VRN 1/20/29 (d) | 1051724 | 1030690 |
| Broadstreet Partners, Inc., 2024 Term Loan B4, 1 mo. USD Term SOFR + 2.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.466% VRN 6/13/31 (d) | 1189622 | 1193060 |
| HUB International Ltd., 2025 Term Loan B, 3 mo. USD Term SOFR + 2.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.120% VRN 6/20/30 (d) | 426846 | 428869 |

---

**MML Barings Global Floating Rate Fund (see Note 1) — Portfolio of Investments (Continued)**

---

| | | |
|:---|:---|:---|
| | **Principal <br>Amount** | **Value** |
| Sedgwick Claims Management Services, Inc., 2023 Term Loan B, 1 mo. USD Term SOFR + 2.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.216% VRN 7/31/31 (d) | $1011854 | $1014809 |
| USI, Inc., 2024 Term Loan D, 3 mo. USD Term SOFR + 2.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.922% VRN 11/21/29 (d) | 190453 | 190826 |
|  |  | 5551211 |
| **Internet — 1.1%** |  |  |
| MH Sub I LLC | MH Sub I LLC | MH Sub I LLC |
| 2023 Term Loan, 3 mo. USD Term SOFR + 4.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.922% VRN 5/03/28 (d) | 291036 | 269936 |
| 2024 Term Loan B4, 1 mo. USD Term SOFR + 4.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.966% VRN 12/31/31 (d) | 182031 | 155267 |
| Proofpoint, Inc., 2025 Repriced Term Loan, 3 mo. USD Term SOFR + 3.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.672% VRN 8/31/28 (d) | 438148 | 440001 |
| team.blue Finco Sarl, 2025 EUR Term Loan B, 3 mo. EURIBOR + 3.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.518% VRN 9/30/29 EUR (d) (e) | 500000 | 588887 |
|  |  | 1454091 |
| **Investment Companies — 0.9%** |  |  |
| Hurtigruten ASA | Hurtigruten ASA | Hurtigruten ASA |
| 2025 EUR Term Loan A, 6 mo. EURIBOR + 7.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;9.583% VRN 2/12/30 EUR (d) (e) | 532652 | 638492 |
| 2025 EUR Term Loan B, 6 mo. EURIBOR + 8.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;10.083% VRN 8/12/30 EUR (d) (e) | 130133 | 137638 |
| Nvent Electric Public Ltd. Co., Term Loan B, 1 mo. USD Term SOFR + 3.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.843% VRN 1/30/32 (d) | 429957 | 432511 |
|  |  | 1208641 |
| **Lodging — 2.6%** |  |  |
| Casper BidCo SAS, 2025 EUR Term Loan B, 6 mo. EURIBOR + 3.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.873% VRN 3/21/31 EUR (d) (e) | 1000000 | 1183180 |
| Hilton Grand Vacations Borrower LLC | Hilton Grand Vacations Borrower LLC | Hilton Grand Vacations Borrower LLC |
| 2021 Term Loan B, 1 mo. USD Term SOFR + 2.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.716% VRN 8/02/28 (d) | 83020 | 83206 |
| 2024 Incremental Term Loan B, 1 mo. USD Term SOFR + 2.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.716% VRN 1/17/31 (d) | 404266 | 402018 |
| Sandy BidCo BV, EUR Term Loan B, 6 mo. EURIBOR + 3.850% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.959% VRN 8/17/29 EUR (d) (e) | 1000000 | 1160181 |
| Station Casinos LLC, 2024 Term Loan B, 1 mo. USD Term SOFR + 2.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.716% VRN 3/14/31 (d) | 364918 | 365878 |
| Turquoise Topco Ltd., Term Loan B, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.000% 8/13/32 (g) | 165017 | 162747 |
|  |  | 3357210 |
| **Machinery - Diversified — 0.4%** |  |  |
| Pro Mach Group, Inc., 2025 1st Lien Term Loan B, 1 mo. USD Term SOFR + 2.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.466% VRN 10/16/32 (d) | 546295 | 549584 |

---

**MML Barings Global Floating Rate Fund (see Note 1) — Portfolio of Investments (Continued)**

---

| | | |
|:---|:---|:---|
| | **Principal <br>Amount** | **Value** |
| **Media — 3.1%** |  |  |
| Cumulus Media New Holdings, Inc., 2024 Term Loan B, 3 mo. USD Term SOFR + 5.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.901% VRN 5/02/29 (d) | $512172 | $140463 |
| DirecTV Financing LLC, 2024 Term Loan, 3 mo. USD Term SOFR + 5.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;9.352% VRN 8/02/29 (d) | 764662 | 766352 |
| Houghton Mifflin Harcourt Publishing Co., 2022 Term Loan, 1 mo. USD Term SOFR + 5.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;9.066% VRN 4/09/29 (d) | 56986 | 49999 |
| Learfield Communications LLC, 2024 Term Loan B, 1 mo. USD Term SOFR + 4.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.466% VRN 6/30/28 (d) | 547241 | 547536 |
| McGraw-Hill Global Education Holdings LLC, 2025 1st Lien Term Loan B, 1 mo. USD Term SOFR + 2.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.466% VRN 8/06/31 (d) | 185407 | 186864 |
| Sunrise Financing Partnership, Term Loan AAA, 6 mo. USD Term SOFR + 2.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.691% VRN 2/15/32 (d) | 608398 | 610156 |
| Telenet Financing USD LLC, 2020 USD Term Loan AR, 1 mo. USD Term SOFR + 2.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.865% VRN 4/30/28 (d) | 1000000 | 999250 |
| Virgin Media Bristol LLC, 2023 USD Term Loan Y, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.000% 3/31/31 (g) | 700000 | 692601 |
|  |  | 3993221 |
| **Metal Fabricate & Hardware — 0.2%** |  |  |
| Grinding Media, Inc., 2024 Term Loan B, 3 mo. USD Term SOFR + 3.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.335% VRN 10/12/28 (d) | 264784 | 264784 |
| **Mining — 0.1%** |  |  |
| Arsenal AIC Parent LLC, 2025 Term Loan B, 1 mo. USD Term SOFR + 2.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.466% VRN 8/19/30 (d) | 165060 | 165266 |
| **Miscellaneous - Manufacturing — 0.1%** |  |  |
| John Bean Technologies Corp., Term Loan, 1 mo. USD Term SOFR + 1.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.466% VRN 1/02/32 (d) | 76344 | 76439 |
| **Oil & Gas Services — 0.1%** |  |  |
| Deep Blue Operating I LLC, Term Loan, 1 mo. USD Term SOFR + 2.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.593% VRN 10/01/32 (d) | 144509 | 144840 |
| **Packaging & Containers — 5.8%** |  |  |
| BradyPlus Holdings LLC, 2025 Term Loan B, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.000% 12/13/32 (g) | 313500 | 309841 |
| Charter NEX US, Inc., 2024 Term Loan B1, 1 mo. USD Term SOFR + 2.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.500% VRN 11/29/30 (d) | 1175287 | 1176956 |
| Clydesdale Acquisition Holdings, Inc., Term Loan B, 1 mo. USD Term SOFR + 3.175% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.891% VRN 4/13/29 (d) | 1073354 | 1073537 |
| Five Star Intermediate Holding LLC, Term Loan, 3 mo. USD Term SOFR + 4.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.988% VRN 5/05/29 (d) | 671530 | 667500 |

---

**MML Barings Global Floating Rate Fund (see Note 1) — Portfolio of Investments (Continued)**

---

| | | |
|:---|:---|:---|
| | **Principal <br>Amount** | **Value** |
| Mauser Packaging Solutions Holding Co., 2025 Term Loan B, 1 mo. USD Term SOFR + 3.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.232% VRN 4/15/30 (d) | $853783 | $835110 |
| Node AcquiCo GmbH, EUR Term Loan, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.000% 12/08/32 EUR (e) (g) | 750000 | 885719 |
| Pretium Packaging LLC, Second Out Term Loan A1, 3 mo. USD Term SOFR + 4.600%, PIK 0.000%, Cash, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.501% VRN 10/02/28 (d) | 403125 | 158658 |
| Pretium PKG Holdings, Inc., 2021 2nd Lien Term Loan, 3 mo. USD Term SOFR + 6.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;10.855% VRN 10/01/29 (d) | 254237 | 6175 |
| Proampac PG Borrower LLC, 2024 Term Loan, 3 mo. USD Term SOFR + 4.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.878% - 7.905% VRN 9/15/28 (d) | 784210 | 784642 |
| Ring Container Technologies Group LLC, 2025 Term Loan B, 1 mo. USD Term SOFR + 2.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.216% VRN 9/15/32 (d) | 628425 | 629852 |
| Trident TPI Holdings, Inc., 2024 Term Loan B7, 3 mo. USD Term SOFR + 3.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.422% VRN 9/15/28 (d) | 942223 | 903356 |
|  |  | 7431346 |
| **Pharmaceuticals — 5.0%** |  |  |
| AI Sirona (Luxembourg) Acquisition SARL, 2025 EUR 1st Lien Term Loan B, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.000% 10/07/32 EUR (e) (g) | 500000 | 590174 |
| Amneal Pharmaceuticals LLC, 2025 Term Loan B, 1 mo. USD Term SOFR + 3.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.216% VRN 8/01/32 (d) | 592247 | 596689 |
| Bausch Health Cos., Inc., 2025 Term Loan B, 1 mo. USD Term SOFR + 6.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;9.966% VRN 10/08/30 (d) | 410780 | 400358 |
| Gainwell Acquisition Corp., Term Loan B, 3 mo. USD Term SOFR + 4.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.772% VRN 10/01/27 (d) | 1193521 | 1170546 |
| Grifols Worldwide Operations USA, Inc., 2019 USD Term Loan B, 3 mo. USD Term SOFR + 2.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.972% VRN 11/15/27 (d) | 680838 | 680551 |
| IVC Acquisition Ltd., 2025 EUR Repriced Term Loan B, 3 mo. EURIBOR + 4.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.035% VRN 12/12/28 EUR (d) (e) | 737000 | 871319 |
| Jazz Financing Lux SARL, 2024 1st Lien Term Loan B2, 1 mo. USD Term SOFR + 2.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.966% VRN 5/05/28 (d) | 552537 | 554609 |
| Nidda Healthcare Holding AG, 2025 EUR Repriced Term Loan B, 3 mo. EURIBOR + 3.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.540% VRN 12/09/32 EUR (d) (e) | 925000 | 1093626 |
| Organon & Co., 2024 USD Term Loan, 1 mo. USD Term SOFR + 2.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.966% VRN 5/19/31 (d) | 130513 | 125423 |
| Vizient, Inc., 2024 Term Loan B, 1 mo. USD Term SOFR + 1.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.466% VRN 8/01/31 (d) | 294013 | 294566 |
|  |  | 6377861 |

---

**MML Barings Global Floating Rate Fund (see Note 1) — Portfolio of Investments (Continued)**

---

| | | |
|:---|:---|:---|
| | **Principal <br>Amount** | **Value** |
| **Pipelines — 0.2%** |  |  |
| GIP Pilot Acquisition Partners LP, 2025 Term Loan B, 3 mo. USD Term SOFR + 2.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.936% VRN 10/04/30 (d) | $198489 | $198704 |
| **Retail — 3.4%** |  |  |
| CD&R Firefly Bidco Ltd., 2025 GBP Term Loan, 3 mo. GBP Term SONIA + 4.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.719% VRN 4/29/29 GBP (d) (e) | 1000000 | 1356375 |
| Flynn Restaurant Group LP, 2025 Incremental Term Loan, 1 mo. USD Term SOFR + 3.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.466% VRN 1/28/32 (d) | 456264 | 457761 |
| Great Outdoors Group LLC, 2025 Term Loan B, 1 mo. USD Term SOFR + 3.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.966% VRN 1/23/32 (d) | 528292 | 530934 |
| Gulfside Supply, Inc., Term Loan B, 3 mo. USD Term SOFR + 3.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.672% VRN 6/17/31 (d) | 50102 | 49319 |
| Harbor Freight Tools USA, Inc., 2024 Term Loan B, 1 mo. USD Term SOFR + 2.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.966% VRN 6/11/31 (d) | 735081 | 727208 |
| IRB Holding Corp., 2025 Term Loan B, 1 mo. USD Term SOFR + 2.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.216% VRN 12/16/30 (d) | 603644 | 604803 |
| Kodiak Building Partners, Inc., 2024 Term Loan B, 1 mo. USD Term SOFR + 3.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.466% VRN 12/04/31 (d) | 115951 | 112943 |
| LBM Acquisition LLC, 2024 Incremental Term Loan B, 1 mo. USD Term SOFR + 3.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.584% VRN 6/06/31 (d) | 207723 | 194501 |
| White Cap Buyer LLC, 2024 Term Loan B, 1 mo. USD Term SOFR + 3.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.966% VRN 10/19/29 (d) | 320896 | 322125 |
|  |  | 4355969 |
| **Semiconductors — 0.4%** |  |  |
| MKS Instruments, Inc., 2025 USD Repriced Term Loan, 1 mo. USD Term SOFR + 2.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.716% VRN 8/17/29 (d) | 528192 | 530062 |
| **Software — 11.4%** |  |  |
| Ascend Learning LLC, 2025 Repriced Term Loan B, 1 mo. USD Term SOFR + 3.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.716% VRN 12/11/28 (d) | 504727 | 505898 |
| Athenahealth Group, Inc., 2022 Term Loan B, 1 mo. USD Term SOFR + 2.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.466% VRN 2/15/29 (d) | 1036265 | 1037343 |
| Avalara, Inc., 2025 Term Loan, 3 mo. USD Term SOFR + 2.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.422% VRN 3/26/32 (d) | 321272 | 322432 |
| BCPE Pequod Buyer, Inc., USD Term Loan B, 1 mo. USD Term SOFR + 3.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.716% VRN 11/25/31 (d) | 796495 | 797738 |
| Boxer Parent Co., Inc. | Boxer Parent Co., Inc. | Boxer Parent Co., Inc. |
| 2025 USD Term Loan B, 3 mo. USD Term SOFR + 3.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.822% VRN 7/30/31 (d) | 810767 | 808019 |
| 2024 2nd Lien Term Loan, 1 mo. USD Term SOFR + 5.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;9.466% VRN 7/30/32 (d) | 335155 | 322000 |

---

**MML Barings Global Floating Rate Fund (see Note 1) — Portfolio of Investments (Continued)**

---

| | | |
|:---|:---|:---|
| | **Principal <br>Amount** | **Value** |
| Cloud Software Group, Inc. | Cloud Software Group, Inc. | Cloud Software Group, Inc. |
| 2025 Term Loan B (2031), 3 mo. USD Term SOFR + 3.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.922% VRN 3/21/31 (d) | $200746 | $200903 |
| 2025 Term Loan B (2032), 3 mo. USD Term SOFR + 3.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.922% VRN 8/13/32 (d) | 439692 | 439969 |
| Cloudera, Inc., 2021 Term Loan, 1 mo. USD Term SOFR + 3.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.566% VRN 10/08/28 (d) | 328285 | 312691 |
| CoreLogic, Inc., Term Loan, 1 mo. USD Term SOFR + 3.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.331% VRN 6/02/28 (d) | 302430 | 302321 |
| Cornerstone OnDemand, Inc., 2021 Term Loan, 1 mo. USD Term SOFR + 3.750%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.581% FRN 10/16/28 (d) (g) | 207498 | 189860 |
| Cotiviti Corp., 2024 Term Loan, 1 mo. USD Term SOFR + 2.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.623% VRN 5/01/31 (d) | 942783 | 904289 |
| Dayforce, Inc., 2025 Term Loan, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.000% 8/20/32 (g) | 627376 | 625137 |
| Ellucian Holdings, Inc., 2024 1st Lien Term Loan B, 1 mo. USD Term SOFR + 2.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.466% VRN 10/09/29 (d) | 269541 | 270888 |
| Genesys Cloud Services Holdings II LLC, 2025 USD Term Loan B, 1 mo. USD Term SOFR + 2.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.216% VRN 1/30/32 (d) | 579280 | 577473 |
| Ivanti Software, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 1st Lien Term Loan, 3 mo. USD Term SOFR + 4.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.639% VRN 6/01/29 (d) | 224841 | 186618 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 Newco Term Loan, 3 mo. USD Term SOFR + 5.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;9.639% VRN 6/01/29 (d) | 93740 | 96709 |
| Kaseya, Inc. | Kaseya, Inc. | Kaseya, Inc. |
| 2025 1st Lien Term Loan B, 1 mo. USD Term SOFR + 3.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.716% VRN 3/20/32 (d) | 314074 | 314118 |
| 2025 2nd Lien Term Loan B, 1 mo. USD Term SOFR + 5.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.716% VRN 3/18/33 (d) | 127241 | 124245 |
| Loyalty Ventures, Inc., Term Loan B, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.000% 11/03/27 (h) | 1440555 | 97237 |
| MedAssets Software Intermediate Holdings, Inc. | MedAssets Software Intermediate Holdings, Inc. | MedAssets Software Intermediate Holdings, Inc. |
| 2024 First Out Term Loan, 3 mo. USD Term SOFR + 4.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.695% VRN 12/15/28 (d) | 257292 | 231162 |
| 2024 Second Out Term Loan, 1 mo. USD Term SOFR + 4.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.845% VRN 12/15/28 (d) | 665361 | 451288 |
| 2024 Term Loan A, 3 mo. USD Term SOFR + 5.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.945% VRN 12/15/28 (d) | 77694 | 71479 |
| 2024 Third Out Term Loan, 1 mo. USD Term SOFR + 6.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;10.595% VRN 12/17/29 (d) | 41610 | 23856 |
| Mermaid Bidco, Inc., 2024 USD Term Loan B, 3 mo. USD Term SOFR + 3.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.151% VRN 7/03/31 (d) | 325355 | 326168 |
| Mitchell International, Inc. | Mitchell International, Inc. | Mitchell International, Inc. |
| 2024 1st Lien Term Loan, 1 mo. USD Term SOFR + 3.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.966% VRN 6/17/31 (d) | 740625 | 742580 |
| 2024 2nd Lien Term Loan, 1 mo. USD Term SOFR + 5.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.966% VRN 6/17/32 (d) | 500000 | 494500 |
| Project Boost Purchaser LLC, 2025 Refinancing Term Loan, 3 mo. USD Term SOFR + 2.564% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.296% VRN 7/16/31 (d) | 914529 | 916432 |

---

**MML Barings Global Floating Rate Fund (see Note 1) — Portfolio of Investments (Continued)**

---

| | | |
|:---|:---|:---|
| | **Principal <br>Amount** | **Value** |
| Project Ruby Ultimate Parent Corp., 2025 Term Loan B, 1 mo. USD Term SOFR + 2.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.581% VRN 3/10/28 (d) | $815026 | $816917 |
| Red Planet Borrower LLC, 2025 Term Loan B, 1 mo. USD Term SOFR + 4.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.716% VRN 9/08/32 (d) | 500000 | 500470 |
| Renaissance Holding Corp., 2024 1st Lien Term Loan, 1 mo. USD Term SOFR + 4.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.716% VRN 4/05/30 (d) | 219500 | 191189 |
| Skopima Merger Sub, Inc., 2024 Repriced Term Loan, 1 mo. USD Term SOFR + 3.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.466% VRN 5/12/28 (d) (g) | 179144 | 162928 |
| SolarWinds Holdings, Inc., 2025 Term Loan, 3 mo. USD Term SOFR + 4.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.701% VRN 4/16/32 (d) | 195229 | 194741 |
| Sovos Compliance LLC, 2025 Repriced Term Loan B, 1 mo. USD Term SOFR + 3.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.966% VRN 8/13/29 (d) | 125465 | 125750 |
| SS&C Technologies, Inc., 2024 Term Loan B8, 1 mo. USD Term SOFR + 2.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.716% VRN 5/09/31 (d) | 446723 | 449158 |
| VS Buyer LLC, 2025 Term Loan B, 3 mo. USD Term SOFR + 2.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.090% VRN 4/12/31 (d) | 457208 | 458351 |
|  |  | 14592857 |
| **Telecommunications — 6.7%** |  |  |
| Delta TopCo, Inc., 2025 Term Loan B, 1 mo. USD Term SOFR + 2.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.436% - 6.585% VRN 11/30/29 (d) (g) | 651387 | 647564 |
| Eircom Finco SARL, 2025 EUR Term Loan B6, 1 mo. EURIBOR + 2.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.665% VRN 5/15/32 EUR (e) | 1000000 | 1178726 |
| Ensono LP, 2021 Term Loan, 1 mo. USD Term SOFR + 4.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.831% VRN 5/26/28 (d) | 326404 | 325960 |
| Iridium Satellite LLC, 2024 Term Loan B, 1 mo. USD Term SOFR + 2.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.966% VRN 9/20/30 (d) | 200793 | 195132 |
| Level 3 Financing, Inc., 2025 Repriced Term Loan B4, 1 mo. USD Term SOFR + 3.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.966% VRN 3/29/32 (d) | 750000 | 751687 |
| MasOrange Finco PLC, 2025 EUR Term Loan B, 6 mo. EURIBOR + 2.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.634% VRN 3/25/31 EUR (d) (e) | 1390000 | 1636272 |
| Matterhorn Telecom Holding SA, EUR Term Loan B, 3 mo. EURIBOR + 2.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.522% VRN 1/30/32 EUR (d) (e) | 1000000 | 1181005 |
| Nuuday AS, EUR Term Loan B, 3 mo. EURIBOR + 6.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.582% VRN 2/03/28 EUR (d) (e) | 1000000 | 1186071 |
| Windstream Services LLC, 2025 Term Loan B, 1 mo. USD Term SOFR + 4.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.716% VRN 10/06/32 (d) | 196602 | 197094 |
| Zegona Communications PLC, EUR Term Loan B, 6 mo. EURIBOR + 2.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.829% VRN 7/17/29 EUR (d) (e) | 1000000 | 1180782 |
|  |  | 8480293 |

---

**MML Barings Global Floating Rate Fund (see Note 1) — Portfolio of Investments (Continued)**

---

| | | |
|:---|:---|:---|
| | **Principal <br>Amount** | **Value** |
| **Transportation — 0.9%** |  |  |
| First Student Bidco, Inc. | First Student Bidco, Inc. | First Student Bidco, Inc. |
| 2025 Term Loan B, 3 mo. USD Term SOFR + 2.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.172% VRN 8/15/30 (d) | $584348 | $585955 |
| 2025 Term Loan C, 3 mo. USD Term SOFR + 2.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.172% VRN 8/15/30 (d) | 106921 | 107143 |
| Kenan Advantage Group, Inc., 2024 Term Loan B4, 1 mo. USD Term SOFR + 3.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.966% VRN 1/25/29 (d) | 479774 | 474857 |
|  |  | 1167955 |
| **TOTAL BANK LOANS <br> (Cost $111,756,346)** | **TOTAL BANK LOANS <br> (Cost $111,756,346)** | **106322557** |
| **Corporate Debt — 8.4%** |  |  |
| **Advertising — 0.5%** |  |  |
| Summer BC Holdco B SARL 3 mo. EURIBOR + 4.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.314% FRN 2/15/30 EUR (d) (e) (i) | 600000 | 660986 |
| **Building Materials — 0.1%** |  |  |
| PCF GmbH |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.750% 4/15/29 EUR (e) (i) | 300000 | 164298 |
| **Commercial Services — 1.9%** |  |  |
| APCOA Group GmbH 3 mo. EURIBOR + 4.125% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.151% FRN 4/15/31 EUR (d) (e) (i) | 250000 | 296072 |
| BCP V Modular Services Finance II PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.750% 11/30/28 EUR (e) (i) | 200000 | 221947 |
| Techem Verwaltungsgesellschaft 675 GmbH 3 mo. EURIBOR + 3.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.074% FRN 7/15/32 EUR (d) (e) (i) | 1000000 | 1185720 |
| Travelex Issuerco 2 PLC, (Acquired 5/07/24-11/05/25, Cost $980,937), PIK 3.000% , Cash |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.010% 3/31/29 GBP (c) (e) (f) (i) | 772328 | 703548 |
|  |  | 2407287 |
| **Computers — 0.4%** |  |  |
| Atos SE | Atos SE | Atos SE |
| 5.200% STEP 12/18/30 EUR (e) (i) | 200000 | 231782 |
| 9.360% STEP 12/18/29 EUR (e) (i) | 243803 | 328261 |
|  |  | 560043 |
| **Diversified Financial Services — 0.0%** |  |  |
| Travelex Financing PLC, (Acquired 1/13/20, Cost $274,579), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.000% 5/15/22 EUR (e) (f) (h) (i) (j) | 250000 | 1102 |
| **Electric — 0.2%** |  |  |
| Energia Group Roi Financeco DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.875% 7/31/28 EUR (e) (i) | 200000 | 243480 |
| **Engineering & Construction — 0.5%** |  |  |
| Assemblin Caverion Group AB 3 mo. EURIBOR + 3.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.526% FRN 7/01/31 EUR (d) (e) (i) | 250000 | 296541 |

---

**MML Barings Global Floating Rate Fund (see Note 1) — Portfolio of Investments (Continued)**

---

| | | |
|:---|:---|:---|
| | **Principal <br>Amount** | **Value** |
| Gatwick Airport Finance PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.000% 11/21/30 GBP (e) (i) | $200000 | $270030 |
|  |  | 566571 |
| **Environmental Controls — 0.1%** |  |  |
| Luna 2 5SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.500% 7/01/32 EUR (e) (i) | 107000 | 128045 |
| **Forest Products & Paper — 0.2%** |  |  |
| Fedrigoni SpA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.125% 6/15/31 EUR (e) (i) | 250000 | 286321 |
| **Health Care - Services — 0.4%** |  |  |
| Mehilainen Yhtiot OYJ | Mehilainen Yhtiot OYJ | Mehilainen Yhtiot OYJ |
| 5.125% 6/30/32 EUR (e) (i) | 227000 | 270820 |
| 3 mo. EURIBOR + 3.375% 5.393% FRN 6/30/32 EUR (d) (e) (i) | 190000 | 225495 |
|  |  | 496315 |
| **Holding Company - Diversified — 0.2%** |  |  |
| Progroup AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.125% 4/15/29 EUR (e) (i) | 250000 | 301700 |
| **Internet — 0.6%** |  |  |
| Cerved Group SpA 3 mo. EURIBOR + 5.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.350% FRN 2/15/29 EUR (d) (e) (i) | 300000 | 330096 |
| Engineering - Ingegneria Informatica - SpA | Engineering - Ingegneria Informatica - SpA | Engineering - Ingegneria Informatica - SpA |
| 3 mo. EURIBOR + 5.750% 7.769% FRN 2/15/30 EUR (d) (e) (i) | 100000 | 119599 |
| 11.125% 5/15/28 EUR (e) (i) | 200000 | 248798 |
|  |  | 698493 |
| **Leisure Time — 0.0%** |  |  |
| HX Holdings Co. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.000% STEP 2/12/30 EUR (e) | 39459 | 36547 |
| **Lodging — 0.2%** |  |  |
| TVL Finance PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;10.250% 4/28/28 GBP (e) (i) | 150000 | 205723 |
| **Machinery - Diversified — 0.0%** |  |  |
| Galapagos SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1.000% 6/15/21 EUR (d) (e) (h) (i) (j) | 20000 | 118 |
| **Media — 0.4%** |  |  |
| Sunrise FinCo I BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.625% 5/15/32 EUR (e) (i) | 410000 | 486665 |
| **Pharmaceuticals — 1.2%** |  |  |
| Grifols SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.125% 5/01/30 EUR (e) (i) | 829000 | 1022122 |
| Nidda Healthcare Holding GmbH 3 mo. EURIBOR + 3.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.814% FRN 10/23/30 EUR (d) (e) (i) | 415000 | 494473 |
|  |  | 1516595 |

---

**MML Barings Global Floating Rate Fund (see Note 1) — Portfolio of Investments (Continued)**

---

| | | |
|:---|:---|:---|
| | **Principal <br>Amount** | **Value** |
| **Retail — 0.0%** |  |  |
| House of Fraser Funding PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1.000% 9/15/20 GBP (e) (h) (i) (j) | 300000 | $202 |
| **Software — 0.1%** |  |  |
| TeamSystem SpA 3 mo. EURIBOR + 3.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.276% FRN 7/01/32 EUR (d) (e) (i) | 100000 | 118154 |
| **Telecommunications — 1.4%** |  |  |
| Fibercop SpA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.125% 6/30/32 EUR (e) (i) | 275000 | 328459 |
| Odido Holding BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.750% 1/15/29 EUR (e) (i) | 500000 | 587938 |
| PLT VII Finance SARL 3 mo. EURIBOR + 3.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.600% FRN 6/15/31 EUR (d) (e) (i) | 500000 | 591009 |
| Vmed O2 UK Financing I PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.500% 7/15/31 GBP (e) (i) | 250000 | 298592 |
|  |  | 1805998 |
| **TOTAL CORPORATE DEBT <br> (Cost $11,031,914)** | **TOTAL CORPORATE DEBT <br> (Cost $11,031,914)** | **10684643** |
| **TOTAL BONDS & NOTES <br> (Cost $122,788,260)** | **TOTAL BONDS & NOTES <br> (Cost $122,788,260)** | **117007200** |
|  | **Number of<br> Shares** |  |
| **Warrants — 0.0%** |  |  |
| **Technology — 0.0%** |  |  |
| Travelex International Ltd. (a) (c) | 285 |  |
| **TOTAL WARRANTS <br> (Cost $0)** | **TOTAL WARRANTS <br> (Cost $0)** | **—** |
| **TOTAL LONG-TERM INVESTMENTS <br> (Cost $124,227,348)** | **TOTAL LONG-TERM INVESTMENTS <br> (Cost $124,227,348)** | **118352541** |
| **Short-Term Investments — 4.9%** |  |  |
|  | **Principal<br> Amount** |  |
| **Repurchase Agreement — 4.9%** |  |  |
| Fixed Income Clearing Corp., Repurchase Agreement, dated 12/31/25, 2.000%, due 1/02/26 (k) | 6246413 | 6246413 |
| **TOTAL SHORT-TERM INVESTMENTS <br> (Cost $6,246,413)** | **TOTAL SHORT-TERM INVESTMENTS <br> (Cost $6,246,413)** | **6246413** |
| **TOTAL INVESTMENTS — 97.7% <br> (Cost $130,473,761) (l)** | **TOTAL INVESTMENTS — 97.7% <br> (Cost $130,473,761) (l)** | **124598954** |
| **Other Assets/(Liabilities) — 2.3%** | **Other Assets/(Liabilities) — 2.3%** | **2877376** |
| **NET ASSETS — 100.0%** | **NET ASSETS — 100.0%** | $**127476330** |

---

**MML Barings Global Floating Rate Fund (see Note 1) — Portfolio of Investments (Continued)**

---

| | |
|:---|:---|
| **Abbreviation Legend** | **Abbreviation Legend** |
| EURIBOR | Euro Inter-Bank Offered Rate |
| FRN | Floating Rate Note |
| PIK | Payment-in-kind - security which may pay interest/dividends in additional par/shares and/or in cash. Rates shown are the current rate and possible payment rates. |
| SOFR | Secured Overnight Financing Rate |
| SONIA | Sterling Overnight Index Average |
| STEP | Step Coupon Bond |
| VRN | Variable Rate Note |

---

---

| | |
|:---|:---|
| **Notes to Portfolio of Investments** | **Notes to Portfolio of Investments** |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. |
| (a) | Non-income producing security. |
| (b) | Investment is valued using significant unobservable inputs. |
| (c) | This security is fair valued in good faith in accordance with procedures approved by the Board of Trustees. At December 31, 2025, these securities amounted to a value of $1,961,888 or 1.54% of net assets. |
| (d) | Floating rate or variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available. |
| (e) | The principal amount of the security is in foreign currency. The market value is in U.S. dollars. |
| (f) | Restricted security. Certain securities are restricted to resale. At December 31, 2025, these securities amounted to a value of $2,615,618 or 2.05% of net assets. The Fund generally bears the costs, if any, associated with the disposition of restricted securities. |
| (g) | All or a portion of the security represents unsettled bank loan commitments at December 31, 2025, where the rate may not be determined until the time of settlement. |
| (h) | Security is currently in default due to bankruptcy or failure to make payment of principal or interest of the issuer. Income is not being accrued. At December 31, 2025, these securities amounted to a value of $100,198 or 0.08% of net assets. |
| (i) | Security is exempt from registration under Regulation S or Rule 144A of the Securities Act of 1933. These securities are considered restricted and may be resold in transactions exempt from registration. At December 31, 2025, the aggregate market value of these securities amounted to $10,648,096 or 8.35% of net assets. |
| (j) | The maturity date of the security has been extended past the date disclosed. The new maturity date is not available as of December 31, 2025. |
| (k) | Maturity value of $6,247,107. Collateralized by U.S. Government Agency obligations with a rate of 3.875%, maturity date of 5/31/27, and an aggregate market value, including accrued interest, of $6,371,540. |
| (l) | See Note 3 for aggregate cost for federal tax purposes. |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Forward contracts** | **Forward contracts** | **Forward contracts** | **Forward contracts** | **Forward contracts** | **Forward contracts** | **Forward contracts** |
| **Counterparty** | **Settlement Date** | **Currency Purchased** | **Currency Purchased** | **Currency Sold** | **Currency Sold** | **Unrealized Appreciation (Depreciation)** |
| Canadian Imperial Bank Of Commerce | 1/22/26 | USD | 37236399 | EUR | 31581592 | $91813 |
| Canadian Imperial Bank Of Commerce | 1/22/26 | USD | 250011 | NOK | 2544000 | (2396) |
| Morgan Stanley & Co. LLC | 1/22/26 | USD | 2918566 | GBP | 2174354 | (12296) |
|  |  |  |  |  |  | $77121 |

---

**MML Barings Global Floating Rate Fund (see Note 1) — Portfolio of Investments (Continued)**

---

| | |
|:---|:---|
| **Currency Legend** | **Currency Legend** |
| EUR | Euro |
| GBP | British Pound |
| NOK | Norwegian Krone |
| USD | U.S. Dollar |

---

---

| |
|:---|
| **MML Barings Unconstrained Income Fund (see Note 1) — Portfolio of Investments** |
| **December 31, 2025 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
|  | **Number of<br> Shares** | **Value** |
| **Equities — 0.2%** |  |  |
| **Common Stock — 0.2%** |  |  |
| **France — 0.0%** |  |  |
| Technicolor Creative Studios, Inc. (TCHCS FP) (a) (b) (c) | 146 | $— |
| **Germany — 0.0%** |  |  |
| Campfire Topco Ltd. (a) (b) (c) | 448154 |  |
| **Norway — 0.1%** |  |  |
| HRN Bidco AS (b) | 5296 | 126096 |
| HX Bidco AS (b) | 1067 | 7191 |
|  |  | 133287 |
| **Spain — 0.0%** |  |  |
| Bahia De Las Isletas SL Class A (a) (b) (c) | 5454162 |  |
| **United Kingdom — 0.0%** |  |  |
| Don Jersey Topco Ltd. (a) (b) (c) | 292774 |  |
| Jubilee Topco Ltd., A1 shares (a) (b) (c) | 746 |  |
| Jubilee Topco Ltd., A2 shares (a) (b) (c) | 363125 |  |
| Jubilee Topco Ltd., A3 shares (a) (b) (c) | 233558 |  |
| Jubilee Topco Ltd., A4 shares (a) (b) (c) | 194966 |  |
| Travelex Topco Ltd. (a) (b) (c) | 9365 |  |
| **United States — 0.1%** |  |  |
| Serta Simmons, Inc. (b) | 14736 | 136308 |
| Technicolor Creative Studios, Inc. (a) (b) (c) | 17217094 |  |
|  |  | 136308 |
| **TOTAL COMMON STOCK <br> (Cost $555,049)** | **TOTAL COMMON STOCK <br> (Cost $555,049)** | **269595** |
| **PREFERRED STOCK — 0.0%** |  |  |
| **United States — 0.0%** |  |  |
| Veritas Kapital Assurance PLC, Series G (b) | 1017 | 23899 |
| Veritas Kapital Assurance PLC, Series G-1 (b) | 702 | 16146 |
|  |  | 40045 |
| **TOTAL PREFERRED STOCK <br> (Cost $26,980)** | **TOTAL PREFERRED STOCK <br> (Cost $26,980)** | **40045** |
| **TOTAL EQUITIES <br> (Cost $582,029)** | **TOTAL EQUITIES <br> (Cost $582,029)** | **309640** |

---

**MML Barings Unconstrained Income Fund (see Note 1) — Portfolio of Investments (Continued)**

---

| | | |
|:---|:---|:---|
| | **Principal <br>Amount** | **Value** |
| **Bonds & Notes — 95.6%** |  |  |
| **Bank Loans — 41.9%** |  |  |
| **Belgium — 0.4%** |  |  |
| United Petfood Finance BV, 2025 EUR Term Loan B, 6 mo. EURIBOR + 2.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.577% VRN 2/26/32 EUR (d) (e) | $500000 | $591590 |
| **Canada — 0.6%** |  |  |
| Balcan Innovations, Inc., Term Loan B, 3 mo. USD Term SOFR + 4.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.590% VRN 10/18/31 (d) | 464950 | 362661 |
| Green Infrastructure Partners, Inc., USD Term Loan B, 3 mo. USD Term SOFR + 2.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.427% VRN 9/24/32 (d) | 153029 | 153029 |
| WestJet Loyalty LP, Term Loan B, 3 mo. USD Term SOFR + 3.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.922% VRN 2/14/31 (d) | 213688 | 214406 |
|  |  | 730096 |
| **Denmark — 0.4%** |  |  |
| Auris Luxembourg III SARL, 2025 EUR Term Loan B, 6 mo. EURIBOR + 3.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.873% VRN 2/28/29 EUR (d) (e) | 500000 | 585396 |
| **France — 0.7%** |  |  |
| AI Sirona (Luxembourg) Acquisition SARL, 2021 EUR 1st Lien Term Loan B, 6 mo. EURIBOR + 4.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.664% VRN 12/18/28 EUR (d) (e) | 500000 | 230004 |
| Ceva Sante Animale, 2025 EUR Term Loan B, 3 mo. EURIBOR + 3.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.019% VRN 11/08/30 EUR (d) (e) | 500000 | 592313 |
| Foundever Worldwide Corp., 2021 USD Term Loan, 3 mo. USD Term SOFR + 3.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.684% VRN 8/28/28 (d) | 150038 | 58515 |
| Technicolor Creative Studios, Inc. | Technicolor Creative Studios, Inc. | Technicolor Creative Studios, Inc. |
| EUR PIK Super Senior Term Loan, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.000% 3/31/26 EUR (a) (c) (e) (f) | 7820 |  |
| EUR PIK Tranche 2 Note Term Loan, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.000% 3/31/26 EUR (a) (c) (e) (f) | 5581 |  |
| EUR Tranche 4 Term Loan, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.000% 3/31/26 EUR (a) (c) (e) (f) | 3208 |  |
| 2023 EUR PIK Reinstated Term Loan B, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.000% 9/15/26 EUR (e) (f) | 87302 | 513 |
| 2023 EUR PIK Term Loan, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.000% 3/28/33 EUR (a) (c) (e) (f) | 82145 |  |
| EUR PIK Tranche 3 Note Term Loan, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;18.116% 3/31/26 EUR (a) (c) (e) (f) | 2777 |  |
|  |  | 881345 |
| **Germany — 2.6%** |  |  |
| Amedes Holding AG, 2021 EUR Term Loan B, 3 mo. EURIBOR + 3.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.816% VRN 11/20/28 EUR (d) (e) | 500000 | 497697 |
| Arvos HoldCo SARL, 2024 USD HoldCo Term Loan B2, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.500% 8/29/27 | 48317 | 9986 |

---

**MML Barings Unconstrained Income Fund (see Note 1) — Portfolio of Investments (Continued)**

---

| | | |
|:---|:---|:---|
| | **Principal <br>Amount** | **Value** |
| Arvos Holding GmbH, 2024 USD Opco Term Loan B4, 3 mo. USD Term SOFR + 5.762% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;9.602% VRN 8/29/27 (d) (g) | $268308 | $222248 |
| Motel One GmbH, EUR Repriced Term Loan B, 1 mo. EURIBOR + 3.625% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.657% VRN 6/04/32 EUR (d) (e) | 800000 | 946976 |
| Nidda Healthcare Holding AG, 2025 EUR Repriced Term Loan B, 3 mo. EURIBOR + 3.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.540% VRN 12/09/32 EUR (d) (e) | 500000 | 591149 |
| Node AcquiCo GmbH, EUR Term Loan, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.000% 12/08/32 EUR (e) (h) | 500000 | 590479 |
| Techem Verwaltungsgesellschaft 675 GmbH, 2025 EUR Term Loan B, 3 mo. EURIBOR + 3.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.255% VRN 7/15/32 EUR (d) (e) | 500000 | 591502 |
|  |  | 3450037 |
| **Luxembourg — 2.2%** |  |  |
| Albion Financing 3 SARL, 2025 EUR Term Loan, 3 mo. EURIBOR + 3.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.010% VRN 5/21/31 EUR (d) (e) | 510000 | 605969 |
| CCP Lux Holding SARL, 2023 EUR Term Loan B, 6 mo. EURIBOR + 4.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.853% VRN 1/05/28 EUR (d) (e) | 500000 | 566299 |
| Flint Group Midco Ltd., USD Opco Term Loan, 3 mo. USD Term SOFR + 4.250%, PIK 0.750%, Cash, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.371% VRN 12/31/26 (d) | 177454 | 167584 |
| Ineos Finance PLC, 2024 EUR Term Loan B1, 1 mo. EURIBOR + 3.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.151% VRN 2/07/31 EUR (d) (e) | 500000 | 480510 |
| Summer (BC) Holdco B SARL | Summer (BC) Holdco B SARL | Summer (BC) Holdco B SARL |
| 2024 EUR Term Loan B, 3 mo. EURIBOR + 4.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.543% VRN 1/31/29 EUR (d) (e) | 432997 | 476072 |
| 2024 USD Term Loan B, 3 mo. USD Term SOFR + 5.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.932% VRN 2/15/29 (d) | 379374 | 352344 |
| Venga Finance SARL, 2025 USD Term Loan B, 3 mo. USD Term SOFR + 3.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.834% VRN 6/28/29 (d) | 292508 | 292946 |
|  |  | 2941724 |
| **Netherlands — 1.7%** |  |  |
| Nouryon Finance BV, 2024 USD Term Loan B1, 6 mo. USD Term SOFR + 3.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.036% VRN 4/03/28 (d) | 184609 | 184456 |
| TMF Group Holding BV, 2025 EUR Term Loan B, 3 mo. EURIBOR + 3.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.249% VRN 5/03/28 EUR (d) (e) | 500000 | 593523 |
| Trivium Packaging BV, EUR Repriced Term Loan, 3 mo. EURIBOR + 3.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.810% VRN 5/28/30 EUR (d) (e) | 700000 | 824524 |
| Ziggo BV, 2019 EUR Term Loan H, 1 mo. EURIBOR + 3.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.935% VRN 1/31/29 EUR (d) (e) | 500000 | 583927 |
|  |  | 2186430 |
| **Norway — 0.3%** |  |  |
| Hurtigruten ASA | Hurtigruten ASA | Hurtigruten ASA |

---

**MML Barings Unconstrained Income Fund (see Note 1) — Portfolio of Investments (Continued)**

---

| | | |
|:---|:---|:---|
| | **Principal <br>Amount** | **Value** |
| 2025 EUR Term Loan A, 6 mo. EURIBOR + 7.500% | | |
| &nbsp;&nbsp;&nbsp;&nbsp;9.583% VRN 2/12/30 EUR (d) (e) | $266326 | $319246 |
| 2025 EUR Term Loan B, 6 mo. EURIBOR + 8.000% | | |
| &nbsp;&nbsp;&nbsp;&nbsp;10.083% VRN 8/12/30 EUR (d) (e) | 65066 | 68819 |
| |  | 388065 |
| **Spain — 0.6%** |  |  |
| Grifols SA, EUR 2019 Term Loan B, 3 mo. EURIBOR + 2.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.316% VRN 11/15/27 EUR (d) (e) | 680836 | 800470 |
| **Sweden — 0.5%** |  |  |
| Verisure Holding AB, 2025 EUR Term Loan B, 3 mo. EURIBOR + 2.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.300% VRN 11/03/32 EUR (d) (e) | 600000 | 708963 |
| **United Kingdom — 3.2%** |  |  |
| Flint Group Packaging INKS North America Holdings LLC | Flint Group Packaging INKS North America Holdings LLC | Flint Group Packaging INKS North America Holdings LLC |
| EUR PIK 2nd lien Holdco Term Loan, 3 mo. EURIBOR + 0.100%, PIK 6.900%, Cash, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.138% VRN 12/30/28 EUR (d) (e) | 438177 | 27035 |
| EUR Opco Term Loan, 3 mo. EURIBOR + 4.250%, PIK 0.750%, Cash, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.288% VRN 12/31/27 EUR (d) (e) | 561496 | 626467 |
| Flint Group Topco Ltd. | Flint Group Topco Ltd. | Flint Group Topco Ltd. |
| USD First Lien HoldCo Facility, 3 mo. USD Term SOFR + 0.100%, PIK 6.900%, Cash |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.221% VRN 12/30/27 (d) | 108383 | 76572 |
| USD Second Lien HoldCo Facility, 3 mo. USD Term SOFR + 0.100%, PIK 6.900%, Cash |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.221% VRN 12/31/27 (d) | 144534 | 8094 |
| Froneri Lux FinCo SARL, 2025 EUR Term Loan, 3 mo. EURIBOR + 2.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.873% VRN 9/30/32 EUR (d) (e) | 500000 | 588752 |
| Lernen Bidco Ltd., 2025 EUR Term Loan B3, 6 mo. EURIBOR + 3.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.871% VRN 4/25/29 EUR (d) (e) | 500000 | 593699 |
| MasOrange Finco PLC, 2025 EUR Term Loan B, 6 mo. EURIBOR + 2.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.634% VRN 3/25/31 EUR (d) (e) | 660000 | 776935 |
| Motion Finco SARL, 2023 EUR Term Loan B, 3 mo. EURIBOR + 3.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.769% VRN 11/12/29 EUR (d) (e) | 500000 | 521101 |
| Tunstall Group Holdings Ltd. | Tunstall Group Holdings Ltd. | Tunstall Group Holdings Ltd. |
| 2023 EUR Reinstated Term Loan B (Acquired 11/30/23-11/28/25, Cost $375,237), 6 mo. EURIBOR + 0.100%, PIK 4.900%, Cash |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.217% VRN 12/20/27 EUR (a) (c) (d) (e) (i) | 343904 | 171766 |
| 2025 EUR Incremental Super Senior Term Loan (Acquired 5/27/25, Cost $39,969), 6 mo. EURIBOR + 3.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.117% VRN 12/18/26 EUR (a) (c) (d) (e) (i) | 38799 | 42541 |
| Vue Entertainment International Ltd. | Vue Entertainment International Ltd. | Vue Entertainment International Ltd. |
| 2023 EUR Floating PIK Reinstated Term Loan B, 6 mo. EURIBOR + 0.000%, PIK 8.000%, Cash |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.103% VRN 12/31/27 EUR (d) (e) | 302293 | 223810 |
| 2023 EUR Floating PIK Term Loan, 6 mo. EURIBOR + 0.100%, PIK 8.400%, Cash, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.203% VRN 12/31/27 EUR (d) (e) | 192919 | 217650 |
| 2023 EUR Floating PIK Super Senior Term Loan, 6 mo. EURIBOR + 8.000%, PIK 1.000%, Cash, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;10.103% VRN 6/30/27 EUR (d) (e) | 103858 | 125715 |

---

**MML Barings Unconstrained Income Fund (see Note 1) — Portfolio of Investments (Continued)**

---

| | | |
|:---|:---|:---|
| | **Principal <br>Amount** | **Value** |
| Vue International Bidco PLC, 2022 EUR Term Loan, 6 mo. EURIBOR + 8.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;10.103% VRN 6/30/27 EUR (d) (e) | $158216 | $186866 |
|  |  | 4187003 |
| **United States — 28.7%** |  |  |
| AAP Buyer, Inc., Term Loan B, 1 mo. USD Term SOFR + 2.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.466% VRN 9/09/31 (d) | 252955 | 253747 |
| Ahead DB Holdings LLC, 2024 Term Loan B4, 3 mo. USD Term SOFR + 2.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.172% VRN 2/03/31 (d) | 248753 | 248243 |
| AlixPartners LLP, 2025 USD Term Loan, 1 mo. USD Term SOFR + 2.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.716% VRN 8/12/32 (d) | 392285 | 392701 |
| Alliance Laundry Systems LLC, 2024 Term Loan B, 1 mo. USD Term SOFR + 2.250%, 3 mo. USD Term SOFR + 2.250 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.984% - 6.107% VRN 8/19/31 (d) | 123421 | 123883 |
| Alpha Generation LLC, Term Loan B, 1 mo. USD Term SOFR + 2.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.716% VRN 9/30/31 (d) | 230931 | 231531 |
| Altium Packaging LLC, 2024 Term Loan B, 1 mo. USD Term SOFR + 2.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.216% VRN 6/11/31 (d) | 295500 | 284788 |
| AMC Entertainment Holdings, Inc., 2024 Term Loan, 1 mo. USD Term SOFR + 7.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;10.731% VRN 1/04/29 (d) (h) | 448376 | 448421 |
| American Airlines, Inc., 2024 1st Lien Term Loan B, 6 mo. USD Term SOFR + 2.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.000% VRN 2/15/28 (d) | 247449 | 248016 |
| Amneal Pharmaceuticals LLC, 2025 Term Loan B, 1 mo. USD Term SOFR + 3.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.216% VRN 8/01/32 (d) | 498750 | 502491 |
| AmWINS Group, Inc., 2025 Term Loan B, 1 mo. USD Term SOFR + 2.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.966% VRN 1/30/32 (d) | 219431 | 219980 |
| Apro LLC, 2024 Term Loan B, 3 mo. USD Term SOFR + 3.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.677% VRN 7/09/31 (d) | 194390 | 195179 |
| Aretec Group, Inc., 2025 Repriced Term Loan, 1 mo. USD Term SOFR + 3.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.716% VRN 8/09/30 (d) | 198500 | 199121 |
| Ascend Learning LLC, 2025 Repriced Term Loan B, 1 mo. USD Term SOFR + 3.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.716% VRN 12/11/28 (d) | 337551 | 338334 |
| Asurion LLC | Asurion LLC | Asurion LLC |
| 2022 Term Loan B10, 1 mo. USD Term SOFR + 4.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.816% VRN 8/19/28 (d) | 297179 | 297367 |
| 2021 Second Lien Term Loan B4, 1 mo. USD Term SOFR + 5.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;9.081% VRN 1/20/29 (d) | 225862 | 221345 |
| Athenahealth Group, Inc., 2022 Term Loan B, 1 mo. USD Term SOFR + 2.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.466% VRN 2/15/29 (d) | 197525 | 197730 |
| Aveanna Healthcare LLC, 2025 Term Loan B, 1 mo. USD Term SOFR + 3.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.466% VRN 9/17/32 (d) | 323267 | 324958 |
| Bally's Corp., 2021 Term Loan B, 3 mo. USD Term SOFR + 3.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.369% VRN 10/02/28 (d) (h) | 300000 | 295467 |

---

**MML Barings Unconstrained Income Fund (see Note 1) — Portfolio of Investments (Continued)**

---

| | | |
|:---|:---|:---|
| | **Principal <br>Amount** | **Value** |
| Barnes Group, Inc., 2025 Term Loan B, 1 mo. USD Term SOFR + 2.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.466% VRN 1/27/32 (d) | $184360 | $184668 |
| Bausch & Lomb Corp. | Bausch & Lomb Corp. | Bausch & Lomb Corp. |
| 2025 Repriced Term Loan, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.000% 1/15/31 (h) | 161666 | 163121 |
| 2025 Term Loan B, 1 mo. USD Term SOFR + 4.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.966% VRN 1/15/31 (d) | 111145 | 112145 |
| Bausch Health Cos., Inc., 2025 Term Loan B, 1 mo. USD Term SOFR + 6.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;9.966% VRN 10/08/30 (d) | 373353 | 363881 |
| Bayonne Energy Center LLC, Term Loan B, 3 mo. USD Term SOFR + 3.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.672% VRN 10/01/32 (d) | 146077 | 146900 |
| Belron Finance 2019 LLC, 2025 Repriced Term Loan B, 3 mo. USD Term SOFR + 2.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.120% VRN 10/16/31 (d) | 198500 | 199493 |
| Bingo Holdings I LLC, Term Loan B, 3 mo. USD Term SOFR + 4.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.422% VRN 6/30/32 (d) | 145181 | 142277 |
| Boxer Parent Co., Inc. | Boxer Parent Co., Inc. | Boxer Parent Co., Inc. |
| 2025 USD Term Loan B, 3 mo. USD Term SOFR + 3.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.822% VRN 7/30/31 (d) | 549151 | 547289 |
| 2024 2nd Lien Term Loan, 1 mo. USD Term SOFR + 5.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;9.466% VRN 7/30/32 (d) | 200000 | 192150 |
| BradyPlus Holdings LLC, 2025 Term Loan B, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.000% 12/13/32 (h) | 223928 | 221315 |
| Broadstreet Partners, Inc., 2024 Term Loan B4, 1 mo. USD Term SOFR + 2.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.466% VRN 6/13/31 (d) | 287936 | 288768 |
| Caesars Entertainment, Inc., Term Loan B, 1 mo. USD Term SOFR + 2.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.966% VRN 2/06/30 (d) | 244012 | 241816 |
| Charlotte Buyer, Inc., 2025 Repriced Term Loan B, 1 mo. USD Term SOFR + 4.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.011% VRN 2/11/28 (d) | 296753 | 291050 |
| Clarios Global LP, 2025 USD Term Loan B, 1 mo. USD Term SOFR + 2.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.466% VRN 1/28/32 (d) | 278943 | 279989 |
| Cloud Software Group, Inc., 2025 Term Loan B (2031), 3 mo. USD Term SOFR + 3.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.922% VRN 3/21/31 (d) | 199000 | 199155 |
| Cloudera, Inc., 2021 Second Lien Term Loan, 1 mo. USD Term SOFR + 6.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;9.816% VRN 10/08/29 (d) | 266667 | 231136 |
| Clydesdale Acquisition Holdings, Inc., Term Loan B, 1 mo. USD Term SOFR + 3.175% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.891% VRN 4/13/29 (d) | 229430 | 229469 |
| CMG Media Corp., 2024 Term Loan, 3 mo. USD Term SOFR + 3.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.272% VRN 6/18/29 (d) (h) | 249367 | 232041 |
| CommScope, Inc., 2024 Term Loan, 1 mo. USD Term SOFR + 4.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.466% VRN 12/17/29 (d) | 300000 | 300141 |
| Connect Holding II LLC, Delayed Draw Term Loan, 1 mo. USD Term SOFR + 4.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.977% - 7.986% VRN 4/03/31 (d) | 150000 | 130266 |
| Cornerstone OnDemand, Inc., 2021 Term Loan, 1 mo. USD Term SOFR + 3.750%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.000% VRN10/16/28 (d) (h) | 56960 | 52118 |

---

**MML Barings Unconstrained Income Fund (see Note 1) — Portfolio of Investments (Continued)**

---

| | | |
|:---|:---|:---|
| | **Principal <br>Amount** | **Value** |
| Cotiviti Corp. | Cotiviti Corp. | Cotiviti Corp. |
| 2024 Term Loan, 1 mo. USD Term SOFR + 2.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.623% VRN 5/01/31 (d) | $294418 | $282397 |
| 2025 2nd Amendment Term Loan, 1 mo. USD Term SOFR + 2.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.623% VRN 3/26/32 (d) | 199499 | 191146 |
| CPC Acquisition Corp. | CPC Acquisition Corp. | CPC Acquisition Corp. |
| Term Loan, 3 mo. USD Term SOFR + 3.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.684% VRN 12/29/27 (d) | 179227 | 147527 |
| Second Lien Term Loan, 3 mo. USD Term SOFR + 7.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;11.684% VRN 12/29/28 (d) | 350000 | 112875 |
| CSC Holdings LLC, 2019 Term Loan B5, 3 mo. U.S. (Fed) Prime Rate + 1.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.250% VRN 4/15/27 (d) | 299206 | 260950 |
| Dayforce, Inc., 2025 Term Loan, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.000% 8/20/32 (h) | 376426 | 375082 |
| Deep Blue Operating I LLC, Term Loan, 1 mo. USD Term SOFR + 2.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.593% VRN 10/01/32 (d) | 101156 | 101388 |
| DG Investment Intermediate Holdings 2, Inc., 2025 Term Loan, 1 mo. USD Term SOFR + 3.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.466% VRN 7/09/32 (d) | 223977 | 223977 |
| DXP Enterprises, Inc., 2025 Repriced Term Loan B, 1 mo. USD Term SOFR + 3.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.148% VRN 10/11/30 (d) | 230233 | 231902 |
| Edelman Financial Center LLC, 2024 2nd Lien Term Loan, 1 mo. USD Term SOFR + 5.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.966% VRN 10/06/28 (d) | 300000 | 299001 |
| Electron BidCo, Inc., 2021 Term Loan, 1 mo. USD Term SOFR + 2.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.216% VRN 11/01/28 (d) | 246231 | 247364 |
| Emrld Borrower LP, Term Loan B, 3 mo. USD Term SOFR + 2.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.072% VRN 5/31/30 (d) | 241928 | 242400 |
| Ensemble RCM LLC, 2024 Term Loan B, 3 mo. USD Term SOFR + 3.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.840% VRN 8/01/29 (d) | 128559 | 129115 |
| First Student Bidco, Inc. | First Student Bidco, Inc. | First Student Bidco, Inc. |
| 2025 Term Loan B, 3 mo. USD Term SOFR + 2.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.172% VRN 8/15/30 (d) | 237127 | 237779 |
| 2025 Term Loan C, 3 mo. USD Term SOFR + 2.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.172% VRN 8/15/30 (d) | 43388 | 43479 |
| Five Star Intermediate Holding LLC, Term Loan, 3 mo. USD Term SOFR + 4.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.988% VRN 5/05/29 (d) | 221520 | 220191 |
| Flint Group Packaging INKS North America Holdings LLC, EUR PIK Holdco Term Loan, 3 mo. EURIBOR + 0.100%, PIK 6.900%, Cash |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.138% VRN 12/30/28 EUR (d) (e) | 328579 | 273391 |
| Fluid-Flow Products, Inc., 2025 Term Loan B, 1 mo. USD Term SOFR + 3.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.966% VRN 3/31/28 (d) (h) | 294637 | 295604 |
| Flynn Restaurant Group LP, 2025 Incremental Term Loan, 1 mo. USD Term SOFR + 3.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.466% VRN 1/28/32 (d) | 259692 | 260544 |
| Franklin Square Holdings LP, 2024 Term Loan B (Acquired 4/18/24, Cost $224,849), 1 mo. USD Term SOFR + 2.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.966% VRN 4/25/31 (d) (i) | 225278 | 218519 |
| Freeport LNG Investments LLLP, 2025 Term Loan B, 3 mo. USD Term SOFR + 3.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.120% VRN 12/21/28 (d) | 228129 | 228795 |

---

**MML Barings Unconstrained Income Fund (see Note 1) — Portfolio of Investments (Continued)**

---

| | | |
|:---|:---|:---|
| | **Principal <br>Amount** | **Value** |
| Gainwell Acquisition Corp., Term Loan B, 3 mo. USD Term SOFR + 4.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.772% VRN 10/01/27 (d) | $241078 | $236437 |
| Genesys Cloud Services Holdings II LLC, 2025 USD Term Loan B, 1 mo. USD Term SOFR + 2.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.216% VRN 1/30/32 (d) | 308949 | 307986 |
| GFL Environmental, Inc., 2025 Term Loan B, 3 mo. USD Term SOFR + 2.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.273% VRN 3/03/32 (d) | 257885 | 258659 |
| Graham Packaging Co., Inc., 2024 Term Loan B, 1 mo. USD Term SOFR + 2.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.216% VRN 8/04/27 (d) | 215952 | 216654 |
| Great Outdoors Group LLC, 2025 Term Loan B, 1 mo. USD Term SOFR + 3.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.966% VRN 1/23/32 (d) | 276606 | 277989 |
| Grinding Media, Inc., 2024 Term Loan B, 3 mo. USD Term SOFR + 3.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.335% VRN 10/12/28 (d) | 188677 | 188677 |
| Gryphon Acquire Newco LLC, Term Loan B, 6 mo. USD Term SOFR + 3.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.854% VRN 9/13/32 (d) | 136719 | 137588 |
| Harbor Freight Tools USA, Inc., 2024 Term Loan B, 1 mo. USD Term SOFR + 2.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.966% VRN 6/11/31 (d) | 211905 | 209636 |
| Heartland Dental LLC, 2025 Term Loan, 1 mo. USD Term SOFR + 3.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.466% VRN 8/25/32 (d) | 197249 | 197921 |
| Highline Aftermarket Acquisition LLC, 2025 Term Loan B, 3 mo. USD Term SOFR + 3.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.322% VRN 2/19/30 (d) | 198496 | 199366 |
| HUB International Ltd., 2025 Term Loan B, 3 mo. USD Term SOFR + 2.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.120% VRN 6/20/30 (d) | 407 | 409 |
| Hyperion Materials & Technologies, Inc., 2021 Term Loan B, 1 mo. USD Term SOFR + 4.500%, 3 mo. USD Term SOFR + 4.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.331% - 8.584% VRN 8/30/28 (d) | 363128 | 317131 |
| INEOS Quattro Holdings UK Ltd., 2023 USD 1st Lien Term Loan B, 1 mo. USD Term SOFR + 4.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.066% VRN 4/02/29 (d) | 494962 | 346474 |
| IRB Holding Corp., 2025 Term Loan B, 1 mo. USD Term SOFR + 2.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.216% VRN 12/16/30 (d) | 490417 | 491359 |
| Ivanti Software, Inc. | Ivanti Software, Inc. | Ivanti Software, Inc. |
| 2025 1st Lien Term Loan, 3 mo. USD Term SOFR + 4.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.639% VRN 6/01/29 (d) | 856951 | 711269 |
| 2025 Newco Term Loan, 3 mo. USD Term SOFR + 5.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;9.639% VRN 6/01/29 (d) | 92294 | 95217 |
| J&J Ventures Gaming LLC, 2025 Repriced Term Loan B, 1 mo. USD Term SOFR + 3.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.216% VRN 4/26/30 (d) | 149248 | 148012 |
| Johnstone Supply LLC, Term Loan B, 1 mo. USD Term SOFR + 2.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.230% VRN 6/09/31 (d) | 275581 | 276921 |
| Journey Personal Care Corp., 2024 Term Loan B, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.000% 3/01/28 (h) | 149621 | 148873 |
| Learfield Communications LLC, 2024 Term Loan B, 1 mo. USD Term SOFR + 4.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.466% VRN 6/30/28 (d) | 143739 | 143817 |

---

**MML Barings Unconstrained Income Fund (see Note 1) — Portfolio of Investments (Continued)**

---

| | | |
|:---|:---|:---|
| | **Principal <br>Amount** | **Value** |
| Level 3 Financing, Inc., 2025 Repriced Term Loan B4, 1 mo. USD Term SOFR + 3.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.966% VRN 3/29/32 (d) | $200000 | $200450 |
| LifePoint Health, Inc., 2024 1st Lien Term Loan B (Acquired 10/15/24, Cost $578,583), 3 mo. USD Term SOFR + 3.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.655% VRN 5/19/31 (d) (i) | 578781 | 580379 |
| Lightning Power LLC, Term Loan B, 1 mo. USD Term SOFR + 2.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.966% VRN 8/18/31 (d) | 185543 | 186318 |
| LSF12 Crown US Commercial Bidco LLC, 2025 Term Loan B, 1 mo. USD Term SOFR + 3.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.373% VRN 12/02/31 (d) | 185725 | 186711 |
| Lumen Technologies, Inc., 2024 Extended Term Loan B1, 1 mo. USD Term SOFR + 2.350% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.350% VRN 4/16/29 (d) | 148479 | 147551 |
| Madison Safety & Flow LLC, 2025 1st Lien Term Loan B, 1 mo. USD Term SOFR + 2.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.227% VRN 9/26/31 (d) | 208226 | 209484 |
| Mavis Tire Express Services Corp., 2025 Repriced Term Loan, 1 mo. USD Term SOFR + 3.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.716% VRN 5/04/28 (d) | 513907 | 515551 |
| MedAssets Software Intermediate Holdings, Inc. | MedAssets Software Intermediate Holdings, Inc. | MedAssets Software Intermediate Holdings, Inc. |
| 2024 First Out Term Loan, 3 mo. USD Term SOFR + 4.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.695% VRN 12/15/28 (d) | 471518 | 423631 |
| 2024 Second Out Term Loan, 1 mo. USD Term SOFR + 4.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.845% VRN 12/15/28 (d) | 702998 | 476815 |
| 2024 Term Loan A, 3 mo. USD Term SOFR + 5.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.945% VRN 12/15/28 (d) | 36030 | 33147 |
| 2024 Third Out Term Loan, 1 mo. USD Term SOFR + 6.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;10.595% VRN 12/17/29 (d) | 27740 | 15904 |
| Medical Solutions Holdings, Inc., 2021 2nd Lien Term Loan (Acquired 9/24/21, Cost $146,660), 3 mo. USD Term SOFR + 7.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;10.940% VRN 11/01/29 (d) (i) | 147368 | 29916 |
| MH Sub I LLC, 2024 Term Loan B4, 1 mo. USD Term SOFR + 4.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.966% VRN 12/31/31 (d) | 88281 | 75301 |
| Midwest Physician Administrative Services LLC, 2021 Term Loan, 3 mo. USD Term SOFR + 3.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.934% VRN 3/12/28 (d) | 405395 | 366996 |
| Mitchell International, Inc., 2024 2nd Lien Term Loan, 1 mo. USD Term SOFR + 5.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.966% VRN 6/17/32 (d) | 197802 | 195626 |
| MKS Instruments, Inc., 2025 USD Repriced Term Loan, 1 mo. USD Term SOFR + 2.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.716% VRN 8/17/29 (d) | 140492 | 140989 |
| NAPA Management Services Corp., Term Loan B, 1 mo. USD Term SOFR + 5.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;9.066% VRN 2/23/29 (d) | 403820 | 278256 |
| Neptune Bidco US, Inc., 2022 USD Term Loan B, 3 mo. USD Term SOFR + 5.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;9.027% VRN 4/11/29 (d) | 143621 | 141861 |
| New Arclin US Holding Corp., 2021 Term Loan (Acquired 5/22/24, Cost $190,598), 1 mo. USD Term SOFR + 3.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.316% VRN 9/30/28 (d) (i) | 190909 | 190670 |
| Nielsen Consumer, Inc., 2025 USD Term Loan, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.000% 3/06/28 (h) | 207293 | 207336 |

---

**MML Barings Unconstrained Income Fund (see Note 1) — Portfolio of Investments (Continued)**

---

| | | |
|:---|:---|:---|
| | **Principal <br>Amount** | **Value** |
| Nvent Electric Public Ltd. Co., Term Loan B, 1 mo. USD Term SOFR + 3.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.843% VRN 1/30/32 (d) | $214978 | $216255 |
| OID-OL Intermediate I LLC | OID-OL Intermediate I LLC | OID-OL Intermediate I LLC |
| Term Loan 2, 3 mo. USD Term SOFR + 4.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.240% VRN 2/01/29 (d) (h) | 691665 | 574373 |
| Term Loan 1, 3 mo. USD Term SOFR + 6.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;9.840% VRN 2/01/29 (d) | 139635 | 143068 |
| Olympus Water US Holding Corp., 2025 USD Term Loan B, 3 mo. USD Term SOFR + 3.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.922% VRN 11/03/32 (d) | 115473 | 114680 |
| Orion US Finco, Inc., 1st Lien Term Loan, 3 mo. USD Term SOFR + 3.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.427% VRN 10/08/32 (d) | 187874 | 188636 |
| Oryx Midstream Services Permian Basin LLC, 2025 Term Loan B, 1 mo. USD Term SOFR + 2.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.977% VRN 10/05/28 (d) | 246877 | 247827 |
| Padagis LLC, Term Loan B, 3 mo. USD Term SOFR + 4.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.949% VRN 7/06/28 (d) | 322807 | 304246 |
| Paradigm Parent LLC, 1st Lien Term Loan, 3 mo. USD Term SOFR + 4.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.172% VRN 4/16/32 (d) | 467230 | 409850 |
| PMHC II, Inc., 2022 Term Loan B, 3 mo. USD Term SOFR + 4.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.327% VRN 4/23/29 (d) | 260140 | 143223 |
| Polar US Borrower LLC | Polar US Borrower LLC | Polar US Borrower LLC |
| 2024 Term Loan B1A (Acquired 9/18/24-7/28/25, Cost $370,462), 3 mo. USD Term SOFR + 5.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;9.459% VRN 10/16/28 (d) (i) | 437020 | 30045 |
| 2024 Term Loan B1B (Acquired 9/18/24-7/28/25, Cost $239,176), 3 mo. USD Term SOFR + 5.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;9.459% VRN 10/16/28 (d) (i) | 300668 | 20671 |
| Pretium Packaging LLC | Pretium Packaging LLC | Pretium Packaging LLC |
| Second Out Term Loan A1, 3 mo. USD Term SOFR + 4.600%, PIK 0.000%, Cash, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.501% VRN 10/02/28 (d) | 78787 | 31008 |
| First Out Term Loan A, 3 mo. USD Term SOFR + 5.000%, PIK 0.000%, Cash, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.901% VRN 10/02/28 (d) | 353633 | 353081 |
| Proampac PG Borrower LLC, 2024 Term Loan, 3 mo. USD Term SOFR + 4.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.878% - 7.905% VRN 9/15/28 (d) | 341158 | 341346 |
| Project Ruby Ultimate Parent Corp., 2025 Term Loan B, 1 mo. USD Term SOFR + 2.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.581% VRN 3/10/28 (d) | 291800 | 292477 |
| QuidelOrtho Corp., Term Loan, 1 mo. USD Term SOFR + 4.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.716% VRN 8/20/32 (d) | 147076 | 146892 |
| Quikrete Holdings, Inc. | Quikrete Holdings, Inc. | Quikrete Holdings, Inc. |
| 2025 Term Loan B1, 1 mo. USD Term SOFR + 2.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.966% VRN 4/14/31 (d) | 171905 | 172343 |
| 2025 Term Loan B, 1 mo. USD Term SOFR + 2.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.966% VRN 2/10/32 (d) | 141029 | 141432 |
| Radiology Partners, Inc., 2025 Term Loan, 3 mo. USD Term SOFR + 4.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.172% VRN 6/30/32 (d) | 192012 | 191472 |
| Radnet Management, Inc., 2024 1st Lien Term Loan B, 3 mo. USD Term SOFR + 2.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.072% VRN 4/18/31 (d) | 246932 | 247611 |

---

**MML Barings Unconstrained Income Fund (see Note 1) — Portfolio of Investments (Continued)**

---

| | | |
|:---|:---|:---|
| | **Principal <br>Amount** | **Value** |
| Raising Cane's Restaurants LLC, 2024 Term Loan B, 1 mo. USD Term SOFR + 2.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.716% VRN 9/18/31 (d) | $238096 | $238453 |
| Raven Acquisition Holdings LLC, Term Loan B, 1 mo. USD Term SOFR + 3.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.716% VRN 11/19/31 (d) | 205248 | 205825 |
| Recess Holdings, Inc., 2025 Repriced Term Loan, 3 mo. USD Term SOFR + 3.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.615% VRN 2/20/30 (d) | 355628 | 357573 |
| Red Planet Borrower LLC, 2025 Term Loan B, 1 mo. USD Term SOFR + 4.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.716% VRN 9/08/32 (d) | 700000 | 700658 |
| Renaissance Holding Corp., 2024 1st Lien Term Loan, 1 mo. USD Term SOFR + 4.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.716% VRN 4/05/30 (d) | 195215 | 170036 |
| Ring Container Technologies Group LLC, 2025 Term Loan B, 1 mo. USD Term SOFR + 2.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.216% VRN 9/15/32 (d) | 198000 | 198449 |
| Sazerac Co., Inc., Term Loan B, 1 mo. USD Term SOFR + 2.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.500% VRN 7/09/32 (d) | 224349 | 224566 |
| Scientific Games Holdings LP, 2024 USD Term Loan B, 3 mo. USD Term SOFR + 3.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.934% VRN 4/04/29 (d) | 246379 | 241730 |
| Sedgwick Claims Management Services, Inc., 2023 Term Loan B, 1 mo. USD Term SOFR + 2.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.216% VRN 7/31/31 (d) | 216001 | 216632 |
| Skopima Merger Sub, Inc., 2024 Repriced Term Loan, 1 mo. USD Term SOFR + 3.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.466% VRN 5/12/28 (d) | 225416 | 205012 |
| Spin Holdco, Inc., 2021 Term Loan, 3 mo. USD Term SOFR + 4.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.022% VRN 3/04/28 (d) | 145278 | 111683 |
| Star Parent, Inc., Term Loan B, 3 mo. USD Term SOFR + 4.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.672% VRN 9/27/30 (d) | 193442 | 193592 |
| Stonepeak Bayou Holdings LP, Term Loan B, 3 mo. USD Term SOFR + 2.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.422% VRN 10/01/32 (d) | 96231 | 86247 |
| Summer (BC) Holdco B SARL, 2024 EUR Term Loan, 3 mo. EURIBOR + 4.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.543% VRN 1/31/29 EUR (d) (e) | 67003 | 73669 |
| Tacala LLC, 2025 Repriced Term Loan B, 1 mo. USD Term SOFR + 3.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.716% VRN 1/31/31 (d) | 176362 | 177432 |
| Team Health Holdings, Inc., 2025 Term Loan B, 3 mo. USD Term SOFR + 4.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.340% VRN 6/30/28 (d) | 313628 | 314412 |
| Third Coast Infrastructure LLC, 2025 Repriced Term Loan B, 1 mo. USD Term SOFR + 3.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.466% VRN 9/25/30 (d) (h) | 323238 | 325798 |
| TKO Worldwide Holdings LLC, 2025 Term Loan, 3 mo. USD Term SOFR + 2.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.868% VRN 11/21/31 (d) | 262666 | 263722 |
| Trident TPI Holdings, Inc., 2024 Term Loan B7, 3 mo. USD Term SOFR + 3.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.422% VRN 9/15/28 (d) | 601294 | 576491 |
| Trio Bidco, Inc., 2025 Term Loan B, 3 mo. USD Term SOFR + 4.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.672% VRN 10/29/32 (d) | 230894 | 231279 |

---

**MML Barings Unconstrained Income Fund (see Note 1) — Portfolio of Investments (Continued)**

---

| | | |
|:---|:---|:---|
| | **Principal <br>Amount** | **Value** |
| United Talent Agency LLC, 2025 Repriced Term Loan B, 1 mo. USD Term SOFR + 3.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.750% VRN 6/10/32 (d) | $200000 | $201250 |
| Upbound Group, Inc., 2025 Term Loan B, 3 mo. USD Term SOFR + 2.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.634% VRN 8/13/32 (d) | 125543 | 126171 |
| US Fertility Enterprises LLC, 2025 Term Loan, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.000% 12/10/32 (h) | 126947 | 127264 |
| Varsity Brands, Inc., 2025 1st Lien Term Loan, 3 mo. USD Term SOFR + 3.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.672% VRN 8/26/31 (d) | 363998 | 365138 |
| Virgin Media Bristol LLC, 2023 USD Term Loan Y, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.052% 3/31/31 (d) | 700000 | 692601 |
| Vision Solutions, Inc., 2021 Incremental Term Loan, 3 mo. USD Term SOFR + 4.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.102% VRN 4/24/28 (d) | 228421 | 211461 |
| Vistra Zero Operating Co. LLC, Term Loan B, 1 mo. USD Term SOFR + 2.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.716% VRN 4/30/31 (d) | 322876 | 319092 |
| VS Buyer LLC, 2025 Term Loan B, 3 mo. USD Term SOFR + 2.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.090% VRN 4/12/31 (d) | 236858 | 237450 |
| Wand NewCo 3, Inc., 2025 Repriced Term Loan B, 1 mo. USD Term SOFR + 2.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.216% VRN 1/30/31 (d) | 291964 | 292119 |
| White Cap Buyer LLC, 2024 Term Loan B, 1 mo. USD Term SOFR + 3.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.966% VRN 10/19/29 (d) | 240016 | 240935 |
| Wilsonart LLC, 2024 Term Loan B, 3 mo. USD Term SOFR + 4.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.922% VRN 8/05/31 (d) (h) | 149621 | 144759 |
| Windstream Services LLC, 2025 Term Loan B, 1 mo. USD Term SOFR + 4.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.716% VRN 10/06/32 (d) | 159635 | 160034 |
| X Corp. | X Corp. | X Corp. |
| 2025 Fixed Term Loan, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;9.500% 10/26/29 | 876803 | 873041 |
| Term Loan, 3 mo. USD Term SOFR + 6.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;10.448% VRN 10/26/29 (d) | 249357 | 244727 |
| Zayo Group Holdings, Inc., 2025 USD Term Loan, 1 mo. USD Term SOFR + 3.000%, PIK 0.500%, Cash, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.831% VRN 3/11/30 (d) | 387093 | 366326 |
|  |  | 37935366 |
| **TOTAL BANK LOANS <br> (Cost $57,471,802)** | **TOTAL BANK LOANS <br> (Cost $57,471,802)** | **55386485** |
| **Corporate Debt — 45.9%** |  |  |
| **Angola — 0.2%** |  |  |
| Azule Energy Finance PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.125% 1/23/30 (j) | 200000 | 200241 |
| **Argentina — 0.3%** |  |  |
| Telecom Argentina SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;9.250% 5/28/33 (j) | 100000 | 104461 |
| Transportadora de Gas del Sur SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.500% 7/24/31 (j) | 108000 | 112157 |

---

**MML Barings Unconstrained Income Fund (see Note 1) — Portfolio of Investments (Continued)**

---

| | | |
|:---|:---|:---|
| | **Principal <br>Amount** | **Value** |
| YPF SA | YPF SA | YPF SA |
| 8.250% 1/17/34 (j) | $100000 | $102196 |
| 8.500% 6/27/29 (j) | 30000 | 31120 |
| 9.000% STEP 6/30/29 (j) | 9662 | 10068 |
|  |  | 360002 |
| **Bahrain — 0.1%** |  |  |
| Bapco Energies Sukuk Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.250% 4/08/29 (j) | 200000 | 198897 |
| **Belgium — 0.1%** |  |  |
| Elia Group SA 5 yr. EURIBOR ICE Swap + 2.506% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.850% VRN EUR (d) (e) (j) (k) | 100000 | 123142 |
| **Brazil — 0.3%** |  |  |
| Petrobras Global Finance BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.250% 1/10/36 | 250000 | 245296 |
| Samarco Mineracao SA PIK 6.750%, Cash |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;9.500% 6/30/31 (j) | 87935 | 89074 |
|  |  | 334370 |
| **Canada — 1.2%** |  |  |
| 1011778 BC ULC/New Red Finance, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.625% 9/15/29 (j) | 200000 | 203637 |
| Bausch Health Cos., Inc. | Bausch Health Cos., Inc. | Bausch Health Cos., Inc. |
| 4.875% 6/01/28 (j) | 150000 | 134250 |
| 5.000% 1/30/28 (j) | 112000 | 98000 |
| Enbridge, Inc., Series NC5, 5 yr. CMT + 3.785% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.250% VRN 1/15/84 (d) | 551000 | 589587 |
| Northriver Midstream Finance LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.750% 7/15/32 (j) | 200000 | 203811 |
| Ontario Gaming GTA LP/OTG Co-Issuer, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.000% 8/01/30 (j) | 195000 | 184898 |
| Superior Plus LP/Superior General Partner, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.500% 3/15/29 (j) | 200000 | 195231 |
|  |  | 1609414 |
| **Chile — 0.3%** |  |  |
| Banco de Credito e Inversiones SA 5 yr. CMT + 4.944% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.750% VRN (d) (j) (k) | 200000 | 216180 |
| VTR Comunicaciones SpA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.375% 4/15/29 (j) | 200000 | 194022 |
|  |  | 410202 |
| **Colombia — 0.1%** |  |  |
| Geopark Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.750% 1/31/30 (j) | 200000 | 186564 |
| **Finland — 0.1%** |  |  |
| Mehilainen Yhtiot OYJ 3 mo. EURIBOR + 3.375% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.393% FRN 6/30/32 EUR (d) (e) (j) | 100000 | 118682 |

---

**MML Barings Unconstrained Income Fund (see Note 1) — Portfolio of Investments (Continued)**

---

| | | |
|:---|:---|:---|
| | **Principal <br>Amount** | **Value** |
| **France — 2.1%** |  |  |
| Altice France SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.500% 4/15/32 (j) | $200000 | $191736 |
| Atos SE | Atos SE | Atos SE |
| 5.200% STEP 12/18/30 EUR (e) (j) | 250000 | 289727 |
| 9.360% STEP 12/18/29 EUR (e) (j) | 250000 | 336605 |
| Electricite de France SA | Electricite de France SA | Electricite de France SA |
| 5 yr. U.K. Government Bond + 3.775% 7.375% VRN GBP (d) (e) (j) (k) | 100000 | 138150 |
| 5 yr. CMT + 5.411% 9.125% VRN (d) (j) (k) | 200000 | 232591 |
| Emeria SASU |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.375% 3/31/28 EUR (e) (j) | 150000 | 154058 |
| iliad SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.250% 1/09/32 EUR (e) (j) | 100000 | 118548 |
| La Poste SA 5 yr. EURIBOR ICE Swap + 2.679% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.000% VRN EUR (d) (e) (j) (k) | 100000 | 121369 |
| Orange SA 5 yr. EUR Swap + 2.659% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.375% VRN EUR (d) (e) (j) (k) | 100000 | 124581 |
| Veolia Environnement SA 5 yr. EURIBOR ICE Swap + 1.837% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.322% VRN EUR (d) (e) (j) (k) | 300000 | 350830 |
| Viridien |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;10.000% 10/15/30 (j) | 361000 | 380668 |
| Worldline SA | Worldline SA | Worldline SA |
| 5.250% 11/27/29 EUR (e) (j) (l) | 200000 | 207439 |
| 5.500% 6/10/30 EUR (e) (j) (l) | 100000 | 102510 |
|  |  | 2748812 |
| **Germany — 2.6%** |  |  |
| Bayer AG | Bayer AG | Bayer AG |
| 5 yr. EUR Swap + 4.458% 5.375% VRN 3/25/82 EUR (d) (e) (j) | 200000 | 241197 |
| 5 yr. EUR Swap + 3.896% 7.000% VRN 9/25/83 EUR (d) (e) (j) | 200000 | 258250 |
| Dynamo Newco II GmbH |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.250% 10/15/31 EUR (e) (j) | 100000 | 119699 |
| Grand City Properties SA 5 yr. EUR Swap + 2.184% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1.500% VRN EUR (d) (e) (j) (k) | 300000 | 347073 |
| IHO Verwaltungs GmbH PIK 7.75% , Cash |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.000% 11/15/31 EUR (e) (j) | 250000 | 317196 |
| Nidda Healthcare Holding GmbH |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.375% 10/23/30 EUR (e) (j) | 200000 | 240187 |
| PCF GmbH |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.750% 4/15/29 EUR (e) (j) | 250000 | 136915 |
| Progroup AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.375% 4/15/31 EUR (e) (j) (l) | 300000 | 360390 |
| SGL Carbon SE, Convertible, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.750% 6/28/28 EUR (e) (j) | 200000 | 228356 |
| Techem Verwaltungsgesellschaft 675 GmbH 3 mo. EURIBOR + 3.000% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.074% FRN 7/15/32 EUR (d) (e) (j) | 150000 | 177858 |
| Volkswagen International Finance NV 8 yr. EURIBOR ICE Swap + 3.494% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.994% VRN EUR (d) (e) (j) (k) | 400000 | 486435 |
| Wintershall Dea Finance 2 BV 5 yr. EURIBOR ICE Swap + 3.940% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.117% VRN EUR (d) (e) (j) (k) | 270000 | 323700 |
| ZF Europe Finance BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.000% 6/12/30 EUR (e) (j) | 200000 | 247612 |
|  |  | 3484868 |

---

**MML Barings Unconstrained Income Fund (see Note 1) — Portfolio of Investments (Continued)**

---

| | | |
|:---|:---|:---|
| | **Principal <br>Amount** | **Value** |
| **Guatemala — 0.1%** |  |  |
| Energuate Trust 2 0 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.350% 9/15/35 (j) | $200000 | $199923 |
| **Hong Kong — 0.1%** |  |  |
| Seaspan Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.500% 8/01/29 (j) | 200000 | 189928 |
| **India — 0.2%** |  |  |
| Vedanta Resources Finance II PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;9.850% 4/24/33 (j) | 200000 | 206850 |
| **Indonesia — 0.3%** |  |  |
| Medco Maple Tree Pte. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.960% 4/27/29 (j) | 400000 | 417103 |
| **Ireland — 0.6%** |  |  |
| eircom Finance DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.000% 4/30/31 EUR (e) (j) | 175000 | 209159 |
| Flutter Treasury DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.875% 6/04/31 (j) | 200000 | 202780 |
| GGAM Finance Ltd. | GGAM Finance Ltd. | GGAM Finance Ltd. |
| 5.875% 3/15/30 (j) | 221000 | 224269 |
| 8.000% 2/15/27 (j) | 200000 | 204544 |
|  |  | 840752 |
| **Italy — 1.1%** |  |  |
| Cerved Group SpA 3 mo. EURIBOR + 5.250% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.350% FRN 2/15/29 EUR (d) (e) (j) | 199000 | 218964 |
| Enel SpA 5 yr. EURIBOR ICE Swap + 2.196% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.500% VRN EUR (d) (e) (j) (k) | 200000 | 236678 |
| Engineering - Ingegneria Informatica - SpA | Engineering - Ingegneria Informatica - SpA | Engineering - Ingegneria Informatica - SpA |
| 8.625% 2/15/30 EUR (e) (j) | 100000 | 126020 |
| 11.125% 5/15/28 EUR (e) (j) | 200000 | 248798 |
| Fedrigoni SpA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.125% 6/15/31 EUR (e) (j) (l) | 100000 | 114528 |
| Fibercop SpA | Fibercop SpA | Fibercop SpA |
| 5.125% 6/30/32 EUR (e) (j) | 160000 | 191103 |
| 6.375% 11/15/33 (j) | 250000 | 247734 |
| TeamSystem SpA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.000% 7/01/31 EUR (e) (j) | 110000 | 130463 |
|  |  | 1514288 |
| **Jamaica — 0.2%** |  |  |
| Digicel International Finance Ltd./Difl US LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.625% 8/01/32 (j) | 200000 | 207489 |
| **Luxembourg — 0.8%** |  |  |
| Cidron Aida Finco SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;9.125% 10/27/31 GBP (e) (j) (l) | 270000 | 374942 |
| ION Platform Finance SARL | ION Platform Finance SARL | ION Platform Finance SARL |
| 6.500% 9/30/30 EUR (e) (j) | 100000 | 113724 |
| 6.875% 9/30/32 EUR (e) (j) | 100000 | 112412 |

---

**MML Barings Unconstrained Income Fund (see Note 1) — Portfolio of Investments (Continued)**

---

| | | |
|:---|:---|:---|
| | **Principal <br>Amount** | **Value** |
| Luna 1.5 SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;10.500% 7/01/32 EUR (e) (j) | $133000 | $162526 |
| Luna 2 5SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.500% 7/01/32 EUR (e) (j) | 100000 | 119669 |
| PLT VII Finance SARL 3 mo. EURIBOR + 3.500% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.600% FRN 6/15/31 EUR (d) (e) (j) | 100000 | 118202 |
| Summer BC Holdco B SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.875% 2/15/30 EUR (e) (j) | 100000 | 108300 |
|  |  | 1109775 |
| **Macau — 0.4%** |  |  |
| MGM China Holdings Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.125% 6/26/31 (j) | 300000 | 317516 |
| Wynn Macau Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.750% 2/15/34 (j) | 200000 | 202574 |
|  |  | 520090 |
| **Mexico — 0.8%** |  |  |
| Petroleos Mexicanos | Petroleos Mexicanos | Petroleos Mexicanos |
| 6.700% 2/16/32 | 647000 | 645273 |
| 7.690% 1/23/50 | 250000 | 224049 |
| Saavi Energia SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.875% 2/10/35 (j) | 200000 | 216910 |
|  |  | 1086232 |
| **Morocco — 0.2%** |  |  |
| OCP SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.700% 3/01/36 (j) | 200000 | 214492 |
| **Netherlands — 0.4%** |  |  |
| Odido Group Holding BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.500% 1/15/30 EUR (e) (j) | 150000 | 177450 |
| Sunrise FinCo I BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.625% 5/15/32 EUR (e) (j) | 100000 | 118699 |
| Trivium Packaging Finance BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.625% 7/15/30 EUR (e) (j) | 140000 | 173245 |
|  |  | 469394 |
| **Norway — 0.2%** |  |  |
| Var Energi ASA 5 yr. EURIBOR ICE Swap + 4.765% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.862% VRN 11/15/83 EUR (d) (e) (j) | 200000 | 258059 |
| **Pakistan — 0.1%** |  |  |
| Veon Midco BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.375% 11/25/27 (j) | 200000 | 189581 |
| **Peru — 0.2%** |  |  |
| Banco BBVA Peru SA 5 yr. CMT + 2.002% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.200% VRN 6/07/34 (d) (j) | 300000 | 310470 |

---

**MML Barings Unconstrained Income Fund (see Note 1) — Portfolio of Investments (Continued)**

---

| | | |
|:---|:---|:---|
| | **Principal <br>Amount** | **Value** |
| **Portugal — 0.4%** |  |  |
| EDP SA | EDP SA | EDP SA |
| 5 yr. EURIBOR ICE Swap + 1.923% 4.375% VRN 12/02/55 EUR (d) (e) (j) | $100000 | $116749 |
| 5 yr. EURIBOR ICE Swap + 2.239% 4.500% VRN 5/27/55 EUR (d) (e) (j) | 300000 | 357837 |
|  |  | 474586 |
| **Russia — 0.0%** |  |  |
| Sovcombank, 5 yr. CMT + 6.380%, VRN, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.750% (a) (c) (d) (f) (j) (k) | 500000 |  |
| **Slovenia — 0.1%** |  |  |
| United Group BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.500% 10/31/31 EUR (e) (j) | 150000 | 179930 |
| **South Africa — 0.2%** |  |  |
| Bidvest Group UK PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.200% 9/17/32 (j) | 200000 | 203782 |
| **Spain — 0.6%** |  |  |
| Anarafe SL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;14.776% 12/31/26 EUR (e) (j) | 110699 | 95873 |
| Cellnex Telecom SA, Convertible, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.750% 11/20/31 EUR (e) (j) | 200000 | 211611 |
| Grifols SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.125% 5/01/30 EUR (e) (j) | 130000 | 160284 |
| Telefonica Europe BV | Telefonica Europe BV | Telefonica Europe BV |
| 8 yr. EURIBOR ICE Swap + 3.121% 5.752% VRN EUR (d) (e) (j) (k) | 200000 | 248799 |
| 7 yr. EUR Swap + 3.347% 6.135% VRN EUR (d) (e) (j) (k) | 100000 | 125398 |
|  |  | 841965 |
| **Sweden — 0.2%** |  |  |
| Intrum Investments & Financing AB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.750% 9/11/27 EUR (e) | 189861 | 211978 |
| **Switzerland — 0.3%** |  |  |
| Consolidated Energy Finance SA | Consolidated Energy Finance SA | Consolidated Energy Finance SA |
| 5.625% 10/15/28 (j) | 150000 | 97500 |
| 6.500% 5/15/26 (j) | 300000 | 289886 |
|  |  | 387386 |
| **Tanzania, United Republic Of — 0.3%** |  |  |
| HTA Group Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.500% 6/04/29 (j) | 367000 | 378735 |
| **Thailand — 0.2%** |  |  |
| GC Treasury Center Co. Ltd. 5 yr. CMT + 3.162% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.125% VRN (d) (j) (k) | 200000 | 203317 |
| **Turkey — 0.6%** |  |  |
| Turkcell Iletisim Hizmetleri AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.650% 1/24/32 (j) | 200000 | 212618 |
| Turkiye Garanti Bankasi AS 5 yr. CMT + 4.090% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.375% VRN 2/28/34 (d) (j) | 220000 | 229691 |

---

**MML Barings Unconstrained Income Fund (see Note 1) — Portfolio of Investments (Continued)**

---

| | | |
|:---|:---|:---|
| | **Principal <br>Amount** | **Value** |
| WE Soda Investments Holding PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;9.500% 10/06/28 (j) | $306000 | $308651 |
|  |  | 750960 |
| **United Kingdom — 5.1%** |  |  |
| BCP V Modular Services Finance II PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.750% 11/30/28 EUR (e) (j) | 200000 | 221947 |
| BCP V Modular Services Finance PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.750% 11/30/29 EUR (e) (j) | 150000 | 135966 |
| Brightstar Lottery PLC/Brightstar Global Solutions Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.750% 1/15/33 (j) | 300000 | 297851 |
| British Telecommunications PLC 5 yr. U.K. Government Bond + 2.282% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.375% VRN 12/03/55 GBP (d) (e) (j) | 180000 | 248022 |
| California Buyer Ltd./Atlantica Sustainable Infrastructure PLC | California Buyer Ltd./Atlantica Sustainable Infrastructure PLC | California Buyer Ltd./Atlantica Sustainable Infrastructure PLC |
| 5.625% 2/15/32 EUR (e) (j) | 120000 | 144059 |
| 6.375% 2/15/32 (j) | 350000 | 350577 |
| Centrica PLC 5 yr. U.K. Government Bond + 2.512% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.500% VRN 5/21/55 GBP (d) (e) (j) | 200000 | 277681 |
| Gatwick Airport Finance PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.000% 11/21/30 GBP (e) (j) | 250000 | 337537 |
| Heathrow Finance PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.625% 3/01/31 GBP (e) (j) | 350000 | 474387 |
| House of Fraser Funding PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1.000% 9/15/20 GBP (e) (f) (j) (m) | 150000 | 101 |
| Ocado Group PLC | Ocado Group PLC | Ocado Group PLC |
| Convertible, 6.250% 8/06/29 GBP (e) (j) | 200000 | 244737 |
| 10.500% 8/08/29 GBP (e) (j) | 270000 | 365180 |
| Pinewood Finco PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.000% 3/27/30 GBP (e) (j) | 300000 | 406661 |
| Sherwood Financing PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.625% 12/15/29 EUR (e) (j) (l) | 200000 | 228214 |
| Travelex Financing PLC, (Acquired 1/13/20, Cost $1,178,955), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.000% 5/15/22 EUR (e) (f) (i) (j) (m) | 1050000 | 4627 |
| Travelex Issuerco 2 PLC, (Acquired 5/07/24-11/06/25, Cost $2,598,204), PIK 3.000% , Cash |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.010% 3/31/29 GBP (c) (e) (i) (j) | 2048526 | 1866094 |
| TVL Finance PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;10.250% 4/28/28 GBP (e) (j) | 200000 | 274298 |
| Virgin Media Finance PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.000% 7/15/30 (j) | 300000 | 264482 |
| Vmed O2 UK Financing I PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.500% 7/15/31 GBP (e) (j) | 200000 | 238873 |
| Vodafone Group PLC | Vodafone Group PLC | Vodafone Group PLC |
| 5 yr. EUR Swap + 3.477% 3.000% VRN 8/27/80 EUR (d) (e) (j) | 100000 | 113219 |
| 5 yr. EUR Swap + 3.489% 6.500% VRN 8/30/84 EUR (d) (e) (j) | 150000 | 191371 |
|  |  | 6685884 |
| **United States — 24.1%** |  |  |
| AdaptHealth LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.125% 3/01/30 (j) (l) | 200000 | 195042 |
| ADT Security Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.875% 7/15/32 (j) | 350000 | 339002 |
| Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer | Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer | Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer |
| 6.750% 4/15/28 (j) | 150000 | 152726 |

---

**MML Barings Unconstrained Income Fund (see Note 1) — Portfolio of Investments (Continued)**

---

| | | |
|:---|:---|:---|
| | **Principal <br>Amount** | **Value** |
| 7.000% 1/15/31 (j) | $251000 | $260406 |
| Alpha Generation LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.750% 10/15/32 (j) | 190000 | 196686 |
| Alta Equipment Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;9.000% 6/01/29 (j) | 250000 | 225775 |
| Amentum Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.250% 8/01/32 (j) | 150000 | 158113 |
| AmWINS Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.375% 2/15/29 (j) | 183000 | 188199 |
| Aretec Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;10.000% 8/15/30 (j) | 180000 | 194246 |
| AS Mileage Plan IP Ltd. | AS Mileage Plan IP Ltd. | AS Mileage Plan IP Ltd. |
| 5.021% 10/20/29 (j) | 150000 | 151041 |
| 5.308% 10/20/31 (j) | 150000 | 151352 |
| Azorra Finance Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.250% 1/15/31 (j) | 122000 | 127836 |
| B&G Foods, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.000% 9/15/28 (j) | 31000 | 30500 |
| BCPE Flavor Debt Merger Sub LLC & BCPE Flavor Issuer, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;9.500% 7/01/32 (j) | 200000 | 191130 |
| Boost Newco Borrower LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.500% 1/15/31 (j) | 200000 | 212570 |
| CACI International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.375% 6/15/33 (j) | 61000 | 63115 |
| Caesars Entertainment, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.000% 10/15/32 (j) | 200000 | 194490 |
| Carvana Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;9.000% 6/01/31 (j) | 321000 | 362226 |
| CCO Holdings LLC/CCO Holdings Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.250% 2/01/31 (j) | 325000 | 298626 |
| Celanese US Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.879% STEP 7/15/32 | 200000 | 208125 |
| CHS/Community Health Systems, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;10.875% 1/15/32 (j) | 270000 | 294689 |
| Clarios Global LP/Clarios US Finance Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.750% 2/15/30 (j) | 217000 | 226507 |
| Clear Channel Outdoor Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.125% 2/15/31 (j) | 162000 | 169637 |
| Cloud Software Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.500% 3/31/29 (j) | 200000 | 202618 |
| Clydesdale Acquisition Holdings, Inc. | Clydesdale Acquisition Holdings, Inc. | Clydesdale Acquisition Holdings, Inc. |
| 6.625% 4/15/29 (j) | 150000 | 152617 |
| 8.750% 4/15/30 (j) | 180000 | 183002 |
| CMG Media Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.875% 6/18/29 (j) | 250000 | 214765 |
| CommScope LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.125% 7/01/28 (j) | 150000 | 150589 |
| CSC Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.625% 12/01/30 (j) | 300000 | 107157 |
| CVR Energy, Inc. | CVR Energy, Inc. | CVR Energy, Inc. |
| 5.750% 2/15/28 (j) | 150000 | 147911 |
| 8.500% 1/15/29 (j) | 150000 | 154177 |
| DBR Land Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.250% 12/01/30 (j) | 95000 | 97174 |

---

**MML Barings Unconstrained Income Fund (see Note 1) — Portfolio of Investments (Continued)**

---

| | | |
|:---|:---|:---|
| | **Principal <br>Amount** | **Value** |
| DISH Network Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;11.750% 11/15/27 (j) | $250000 | $260195 |
| EchoStar Corp. | EchoStar Corp. | EchoStar Corp. |
| PIK 6.750%, Cash 6.750% 11/30/30 | 155568 | 159375 |
| 10.750% 11/30/29 | 250000 | 276450 |
| Edison International 5 yr. CMT + 3.864% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.125% VRN 6/15/53 (d) | 188000 | 195618 |
| EMRLD Borrower LP/Emerald Co-Issuer, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.750% 7/15/31 (j) | 200000 | 210802 |
| Encore Capital Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.625% 4/15/31 (j) | 200000 | 200999 |
| Energizer Holdings, Inc. | Energizer Holdings, Inc. | Energizer Holdings, Inc. |
| 4.375% 3/31/29 (j) | 400000 | 382202 |
| 6.000% 9/15/33 (j) | 150000 | 143881 |
| Enpro, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.125% 6/01/33 (j) | 200000 | 206379 |
| ESC Briggs & Stratton, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.875% 12/15/49 (a) (c) (f) | 514000 |  |
| Focus Financial Partners LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.750% 9/15/31 (j) | 186000 | 191230 |
| Full House Resorts, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.250% 2/15/28 (j) (l) | 450000 | 390938 |
| Genesis Energy LP/Genesis Energy Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.000% 5/15/33 | 250000 | 259526 |
| GFL Environmental, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.750% 1/15/31 (j) | 200000 | 209834 |
| Global Infrastructure Solutions, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.625% 6/01/29 (j) | 200000 | 200000 |
| Global Partners LP/GLP Finance Corp. | Global Partners LP/GLP Finance Corp. | Global Partners LP/GLP Finance Corp. |
| 7.125% 7/01/33 (j) | 35000 | 35639 |
| 8.250% 1/15/32 (j) | 142000 | 149565 |
| Goat Holdco LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.750% 2/01/32 (j) | 18000 | 18487 |
| Graham Holdings Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.625% 12/01/33 (j) | 127000 | 128221 |
| Graham Packaging Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.125% 8/15/28 (j) | 40000 | 40034 |
| GrubHub Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;13.000% 7/31/30 (j) (l) | 84197 | 68537 |
| HAT Holdings I LLC/HAT Holdings II LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.000% 6/15/27 (j) | 200000 | 207595 |
| Herbalife Ltd., Convertible, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.250% 6/15/28 | 727000 | 782979 |
| Hilcorp Energy I LP/Hilcorp Finance Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.000% 4/15/30 (j) | 200000 | 194341 |
| Hilton Domestic Operating Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.750% 9/15/33 (j) | 185000 | 189332 |
| HLF Financing SARL LLC/Herbalife International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;12.250% 4/15/29 (j) | 200000 | 215948 |
| Icahn Enterprises LP/Icahn Enterprises Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.250% 5/15/27 | 150000 | 147938 |
| Inversion Escrow Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.750% 8/01/32 (j) | 300000 | 298841 |
| ION Platform Finance US, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.875% 9/30/32 (j) | 250000 | 237214 |

---

**MML Barings Unconstrained Income Fund (see Note 1) — Portfolio of Investments (Continued)**

---

| | | |
|:---|:---|:---|
| | **Principal <br>Amount** | **Value** |
| Iron Mountain, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.000% 7/15/28 (j) | $300000 | $299618 |
| ITT Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.500% 8/01/29 (j) | 400000 | 383861 |
| Jacobs Entertainment, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.750% 2/15/29 (j) | 200000 | 195970 |
| JB Poindexter & Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.750% 12/15/31 (j) | 103000 | 107890 |
| JBS USA Holding Lux SARL/JBS USA Food Co./JBS Lux Co. SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.750% 12/01/31 | 150000 | 142442 |
| Jefferson Capital Holdings LLC | Jefferson Capital Holdings LLC | Jefferson Capital Holdings LLC |
| 8.250% 5/15/30 (j) | 226000 | 237686 |
| 9.500% 2/15/29 (j) | 150000 | 157527 |
| JetBlue Airways Corp./JetBlue Loyalty LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;9.875% 9/20/31 (j) | 150000 | 151119 |
| JH North America Holdings, Inc. | JH North America Holdings, Inc. | JH North America Holdings, Inc. |
| 5.875% 1/31/31 (j) | 35000 | 35725 |
| 6.125% 7/31/32 (j) | 36000 | 36956 |
| K Hovnanian Enterprises, Inc. | K Hovnanian Enterprises, Inc. | K Hovnanian Enterprises, Inc. |
| 8.000% 4/01/31 (j) | 50000 | 51028 |
| 8.375% 10/01/33 (j) | 50000 | 50814 |
| LBM Acquisition LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;9.500% 6/15/31 (j) | 200000 | 208488 |
| Level 3 Financing, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.000% 3/31/34 (j) | 197000 | 203023 |
| LifePoint Health, Inc. | LifePoint Health, Inc. | LifePoint Health, Inc. |
| (Acquired 1/15/25-6/24/25, Cost $346,740), 10.000% 6/01/32 (i) (j) (l) | 350000 | 371729 |
| (Acquired 6/24/25, Cost $271,745), 11.000% 10/15/30 (i) (j) | 250000 | 274159 |
| Lightning Power LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.250% 8/15/32 (j) | 250000 | 265838 |
| Mauser Packaging Solutions Holding Co. | Mauser Packaging Solutions Holding Co. | Mauser Packaging Solutions Holding Co. |
| 7.875% 4/15/30 (j) | 450000 | 446450 |
| 9.250% 4/15/30 (j) | 300000 | 288000 |
| McGraw-Hill Education, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.375% 9/01/31 (j) | 215000 | 226837 |
| Molina Healthcare, Inc. | Molina Healthcare, Inc. | Molina Healthcare, Inc. |
| 6.250% 1/15/33 (j) | 200000 | 203893 |
| 6.500% 2/15/31 (j) | 297000 | 305028 |
| NCL Corp. Ltd. | NCL Corp. Ltd. | NCL Corp. Ltd. |
| Convertible, 0.875% 4/15/30 (j) | 88000 | 97955 |
| 6.750% 2/01/32 (j) | 206000 | 210928 |
| NESCO Holdings II, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.500% 4/15/29 (j) | 150000 | 147759 |
| Newell Brands, Inc. | Newell Brands, Inc. | Newell Brands, Inc. |
| 6.375% 5/15/30 (l) | 190000 | 185547 |
| 6.625% 9/15/29 | 150000 | 149454 |
| 6.625% 5/15/32 (l) | 150000 | 145524 |
| 7.500% STEP 4/01/46 | 100000 | 83451 |
| 8.500% 6/01/28 (j) | 74000 | 77593 |
| Nexstar Media, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.750% 11/01/28 (j) | 87000 | 86369 |
| NGL Energy Operating LLC/NGL Energy Finance Corp. | NGL Energy Operating LLC/NGL Energy Finance Corp. | NGL Energy Operating LLC/NGL Energy Finance Corp. |
| 8.125% 2/15/29 (j) | 83000 | 86151 |
| 8.375% 2/15/32 (j) | 247000 | 255785 |

---

**MML Barings Unconstrained Income Fund (see Note 1) — Portfolio of Investments (Continued)**

---

| | | |
|:---|:---|:---|
| | **Principal <br>Amount** | **Value** |
| Olympus Water US Holding Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.250% 10/01/28 (j) | $210000 | $203850 |
| OneMain Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.875% 9/15/28 | 400000 | 389850 |
| OneSky Flight LLC, (Acquired 12/12/24, Cost $202,888), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.875% 12/15/29 (i) (j) | 200000 | 214027 |
| Osaic Holdings, Inc. | Osaic Holdings, Inc. | Osaic Holdings, Inc. |
| 6.750% 8/01/32 (j) | 150000 | 156693 |
| 8.000% 8/01/33 (j) | 114000 | 118525 |
| Paradigm Parent LLC & Paradigm Parent Co-Issuer, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.750% 4/17/32 (j) | 139000 | 125880 |
| Parsons Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.625% 3/01/29 | 347000 | 356716 |
| Performance Food Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.125% 9/15/32 (j) | 202000 | 208243 |
| Perrigo Finance Unlimited Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.125% 9/30/32 | 250000 | 243517 |
| PG&E Corp. | PG&E Corp. | PG&E Corp. |
| 5.000% 7/01/28 | 150000 | 149585 |
| 5.250% 7/01/30 | 150000 | 148938 |
| Phinia, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.625% 10/15/32 (j) | 297000 | 307527 |
| Post Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.500% 9/15/31 (j) | 150000 | 142207 |
| PRA Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.375% 2/01/28 (j) | 290000 | 296303 |
| PROG Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.000% 11/15/29 (j) | 250000 | 247018 |
| QXO Building Products, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.750% 4/30/32 (j) | 229000 | 239172 |
| Radiology Partners, Inc. | Radiology Partners, Inc. | Radiology Partners, Inc. |
| 8.500% 7/15/32 (j) | 277000 | 289365 |
| PIK 9.781% , Cash 9.781% 2/15/30 (j) | 440079 | 423576 |
| Raven Acquisition Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.875% 11/15/31 (j) | 205000 | 211220 |
| Resideo Funding, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.500% 7/15/32 (j) | 200000 | 204707 |
| RHP Hotel Properties LP/RHP Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.500% 6/15/33 (j) | 101000 | 104993 |
| Rivers Enterprise Lender LLC/Rivers Enterprise Lender Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.250% 10/15/30 (j) | 134000 | 136778 |
| Rocket Cos., Inc. | Rocket Cos., Inc. | Rocket Cos., Inc. |
| 6.125% 8/01/30 (j) | 115000 | 118873 |
| 6.375% 8/01/33 (j) | 115000 | 119901 |
| Royal Caribbean Cruises Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.500% 8/31/26 (j) | 300000 | 300462 |
| Sabre Financial Borrower LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;11.125% 6/15/29 (j) | 167000 | 169227 |
| Sabre GLBL, Inc. | Sabre GLBL, Inc. | Sabre GLBL, Inc. |
| Convertible, 7.320% 8/01/26 | 200000 | 201100 |
| 10.750% 11/15/29 (j) | 24000 | 20408 |
| 10.750% 3/15/30 (j) | 30000 | 24670 |
| Service Properties Trust | Service Properties Trust | Service Properties Trust |
| 0.000% 9/30/28 (j) | 254000 | 229529 |
| 4.950% 2/15/27 | 225000 | 225965 |

---

**MML Barings Unconstrained Income Fund (see Note 1) — Portfolio of Investments (Continued)**

---

| | | |
|:---|:---|:---|
| | **Principal <br>Amount** | **Value** |
| 8.875% 6/15/32 | $150000 | $147968 |
| Six Flags Entertainment Corp./Six Flags Theme Parks, Inc./Canada's Wonderland Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.625% 5/01/32 (j) | 300000 | 302524 |
| Smyrna Ready Mix Concrete LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.000% 11/01/28 (j) | 200000 | 200924 |
| Stonebriar ABF Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.125% 12/15/30 (j) | 102000 | 104978 |
| Suburban Propane Partners LP/Suburban Energy Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.000% 6/01/31 (j) | 98000 | 94083 |
| Sunoco LP | Sunoco LP | Sunoco LP |
| 5.625% 3/15/31 (j) | 135000 | 135989 |
| 5.875% 3/15/34 (j) | 53000 | 52995 |
| 6.625% 8/15/32 (j) | 206000 | 211730 |
| Surgery Center Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.250% 4/15/32 (j) | 200000 | 202294 |
| Synergy Infrastructure Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.875% 12/01/30 (j) | 78000 | 80864 |
| Talen Energy Supply LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.625% 6/01/30 (j) | 500000 | 529377 |
| Taylor Morrison Communities, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.750% 11/15/32 (j) | 51000 | 52473 |
| Team Health Holdings, Inc. | Team Health Holdings, Inc. | Team Health Holdings, Inc. |
| 8.375% 6/30/28 (j) | 141000 | 142699 |
| PIK 4.500% , Cash 13.500% 6/30/28 (j) | 311351 | 328475 |
| Tenet Healthcare Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.000% 11/15/33 (j) | 70000 | 72072 |
| TransDigm, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.750% 8/15/28 (j) | 350000 | 356166 |
| Trident TPI Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;12.750% 12/31/28 (j) | 351000 | 359642 |
| UKG, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.875% 2/01/31 (j) | 259000 | 266048 |
| Uniti Group LP/Uniti Group Finance 2019, Inc./CSL Capital LLC | Uniti Group LP/Uniti Group Finance 2019, Inc./CSL Capital LLC | Uniti Group LP/Uniti Group Finance 2019, Inc./CSL Capital LLC |
| 6.500% 2/15/29 (j) | 300000 | 288095 |
| 8.625% 6/15/32 (j) | 300000 | 295512 |
| Uniti Group, Inc., Convertible, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.500% 12/01/27 | 120000 | 132204 |
| Upbound Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.375% 2/15/29 (j) | 134000 | 131991 |
| US Foods, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.750% 4/15/33 (j) | 300000 | 305578 |
| Venture Global LNG, Inc. | Venture Global LNG, Inc. | Venture Global LNG, Inc. |
| 7.000% 1/15/30 (j) (l) | 250000 | 240607 |
| 9.875% 2/01/32 (j) | 400000 | 413229 |
| Venture Global Plaquemines LNG LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.500% 1/15/34 (j) | 98000 | 100376 |
| Vibrantz Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;9.000% 2/15/30 (j) | 238000 | 79028 |
| Voyager Parent LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;9.250% 7/01/32 (j) | 150000 | 159168 |
| Watco Cos. LLC/Watco Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.125% 8/01/32 (j) | 317000 | 331996 |
| WBI Operating LLC | WBI Operating LLC | WBI Operating LLC |
| 6.250% 10/15/30 (j) | 225000 | 226357 |

---

**MML Barings Unconstrained Income Fund (see Note 1) — Portfolio of Investments (Continued)**

---

| | | |
|:---|:---|:---|
| | **Principal <br>Amount** | **Value** |
| 6.500% 10/15/33 (j) | $125000 | $124527 |
| Weatherford International Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.750% 10/15/33 (j) | 168000 | 172051 |
| Wilsonart LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;11.000% 8/15/32 (j) | 200000 | 178716 |
| Windstream Services LLC/Windstream Escrow Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.250% 10/01/31 (j) | 250000 | 262442 |
| XPLR Infrastructure Operating Partners LP | XPLR Infrastructure Operating Partners LP | XPLR Infrastructure Operating Partners LP |
| 8.375% 1/15/31 (j) | 122000 | 128055 |
| 8.625% 3/15/33 (j) | 129000 | 135710 |
| Zayo Group Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;9.250% 3/09/30 (j) | 541 | 514 |
|  |  | 31851028 |
| **Uzbekistan — 0.3%** |  |  |
| Uzbek Industrial & Construction Bank ATB | Uzbek Industrial & Construction Bank ATB | Uzbek Industrial & Construction Bank ATB |
| 8.950% 7/24/29 (j) | 200000 | 214442 |
| 5 yr. CMT + 5.792% 9.450% VRN (d) (j) (k) | 200000 | 201205 |
|  |  | 415647 |
| **Zambia — 0.4%** |  |  |
| First Quantum Minerals Ltd. | First Quantum Minerals Ltd. | First Quantum Minerals Ltd. |
| 7.250% 2/15/34 (j) | 281000 | 295417 |
| 9.375% 3/01/29 (j) | 245000 | 257988 |
|  |  | 553405 |
| **TOTAL CORPORATE DEBT <br> (Cost $62,227,562)** | **TOTAL CORPORATE DEBT <br> (Cost $62,227,562)** | **60648223** |
| **Non-U.S. Government Agency Obligations — 7.5%** |  |  |
| **Cayman Islands — 3.8%** |  |  |
| Diameter Capital CLO 9 Ltd. Series 2025-9A, Class E, 3 mo. USD Term SOFR + 4.700% |  |  |
| 8.584% FRN 4/20/2038 (d) (j) | 750000 | 754086 |
| Elmwood CLO 39 Ltd. Series 2025-2A, Class E1, 3 mo. USD Term SOFR + 4.400% |  |  |
| 8.282% FRN 4/17/38 (d) (j) | 750000 | 743957 |
| Madison Park Funding XIII Ltd. Series 2014-13A, Class SUB, |  |  |
| 0.000% VRN 4/19/30 (d) (g) (j) | 500000 | 8239 |
| Magnetite VII Ltd. Series 2012-7A, Class SUB, |  |  |
| 0.000% VRN 1/15/28 (d) (g) (j) | 2000000 | 93254 |
| Octagon 74 Ltd. Series 2025-2A, Class E, 3 mo. USD Term SOFR + 5.100% |  |  |
| 8.957% FRN 4/22/38 (d) (j) | 1000000 | 980638 |
| RR 20 Ltd. Series 2022-20A, Class DR, 3 mo. USD Term SOFR + 4.500% |  |  |
| 8.405% FRN 7/15/37 (d) (j) | 1500000 | 1453936 |
| Texas Debt Capital CLO Ltd. Series 2025-1A, Class E, 3 mo. USD Term SOFR + 4.500% |  |  |
| 8.365% FRN 4/24/38 (d) (j) | 1000000 | 993953 |
|  |  | 5028063 |

---

**MML Barings Unconstrained Income Fund (see Note 1) — Portfolio of Investments (Continued)**

---

| | | |
|:---|:---|:---|
| | **Principal<br> Amount<br> Value**  | **Value** |
| **Ireland — 3.1%** |  |  |
| ARES European CLO XVIII DAC Series 18A, Class ER, 3 mo. EUR EURIBOR + 5.650% |  |  |
| 7.624% FRN 10/15/38 EUR (d) (e) (j) | $1000000 | $1163416 |
| Bain Capital Euro CLO DAC Series 2021-2A, Class E, 3 mo. EURIBOR + 6.220% |  |  |
| 8.236% FRN 7/17/34 EUR (d) (e) (j) | 800000 | 923202 |
| BlackRock European CLO VII DAC Series 7X, Class E, 3 mo. EURIBOR + 5.170% |  |  |
| 7.196% FRN 10/15/31 EUR (d) (e) (j) | 725000 | 852156 |
| Tymon Park CLO DAC Series 1A, Class DRR, 3 mo. EURIBOR + 6.160% |  |  |
| 8.170% FRN 7/21/34 EUR (d) (e) (j) | 1000000 | 1181031 |
|  |  | 4119805 |
| **United Kingdom — 0.6%** |  |  |
| Canyon Capital CLO Ltd. Series 2022-2A, Class ER, 3 mo. USD Term SOFR + 4.750% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.655% FRN 4/15/38 (d) (j) | 825000 | 795468 |
| **TOTAL NON-U.S. GOVERNMENT AGENCY OBLIGATIONS <br> (Cost $12,210,881)** | **TOTAL NON-U.S. GOVERNMENT AGENCY OBLIGATIONS <br> (Cost $12,210,881)** | **9943336** |
| **Sovereign Debt Obligations — 0.3%** |  |  |
| **Uzbekistan — 0.3%** |  |  |
| National Bank of Uzbekistan |  |  |
| 8.500% 7/05/29 (j) | 300000 | 321066 |
| **TOTAL SOVEREIGN DEBT OBLIGATIONS <br> (Cost $297,775)** | **TOTAL SOVEREIGN DEBT OBLIGATIONS <br> (Cost $297,775)** | **321066** |
| **TOTAL BONDS & NOTES <br> (Cost $132,208,020)** | **TOTAL BONDS & NOTES <br> (Cost $132,208,020)** | **126299110** |
|  | **Number of <br>Shares** |  |
| **Warrants — 0.0%** |  |  |
| **United Kingdom — 0.0%** |  |  |
| Travelex International Ltd. (b) (c) | 837 |  |
| **TOTAL WARRANTS <br> (Cost $0)** | **TOTAL WARRANTS <br> (Cost $0)** | **—** |
| **Rights — 0.0%** |  |  |
| **United Kingdom — 0.0%** |  |  |
| Innovation Group PLC (a) (b) (c) | 83667 |  |

---

**MML Barings Unconstrained Income Fund (see Note 1) — Portfolio of Investments (Continued)**

---

| | | |
|:---|:---|:---|
| | **Number of <br>Shares** | **Value** |
| **TOTAL RIGHTS <br> (Cost $0)** | **TOTAL RIGHTS <br> (Cost $0)** | $**—** |
| **TOTAL LONG-TERM INVESTMENTS <br> (Cost $132,790,049)** | **TOTAL LONG-TERM INVESTMENTS <br> (Cost $132,790,049)** | **126608750** |
| **Short-Term Investments — 5.2%** |  |  |
| **Investment of Cash Collateral from Securities Loaned — 2.0%** |  |  |
| State Street Navigator Securities Lending Government Money Market Portfolio, 3.804% (n) | 2587831 | 2587831 |
|  | **Principal <br>Amount** |  |
| **Repurchase Agreement — 3.2%** |  |  |
| Fixed Income Clearing Corp., Repurchase Agreement, dated 12/31/25, 2.000%, due 1/02/26 (o) | 4232243 | 4232243 |
| **TOTAL SHORT-TERM INVESTMENTS <br> (Cost $6,820,074)** | **TOTAL SHORT-TERM INVESTMENTS <br> (Cost $6,820,074)** | **6820074** |
| **TOTAL INVESTMENTS — 101.0% <br> (Cost $139,610,123) (p)** | **TOTAL INVESTMENTS — 101.0% <br> (Cost $139,610,123) (p)** | **133428824** |
| **Other Assets/(Liabilities) — (1.0)%** | **Other Assets/(Liabilities) — (1.0)%** | **(1298696)** |
| **NET ASSETS — 100.0%** | **NET ASSETS — 100.0%** | $**132130128** |

---

---

| | |
|:---|:---|
| **Abbreviation Legend** | **Abbreviation Legend** |
| CLO | Collateralized Loan Obligation |
| CMT | Constant Maturity Treasury Index |
| EURIBOR | Euro Inter-Bank Offered Rate |
| FRN | Floating Rate Note |
| ICE | Inter-Continental Exchange |
| PIK | Payment-in-kind - security which may pay interest/dividends in additional par/shares and/or in cash. Rates shown are the current rate and possible payment rates. |
| SOFR | Secured Overnight Financing Rate |
| STEP | Step Coupon Bond |
| VRN | Variable Rate Note |

---

---

| | |
|:---|:---|
| **Notes to Portfolio of Investments** | **Notes to Portfolio of Investments** |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. |
| (a) | Investment is valued using significant unobservable inputs. |
| (b) | Non-income producing security. |
| (c) | This security is fair valued in good faith in accordance with procedures approved by the Board of Trustees. At December 31, 2025, these securities amounted to a value of $2,080,401 or 1.57% of net assets. |
| (d) | Floating rate or variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available. |
| (e) | The principal amount of the security is in foreign currency. The market value is in U.S. dollars. |
| (f) | Security is currently in default due to bankruptcy or failure to make payment of principal or interest of the issuer. Income is not being accrued. At December 31, 2025, these securities amounted to a value of $5,241 or 0.00% of net assets. |

---

**MML Barings Unconstrained Income Fund (see Note 1) — Portfolio of Investments (Continued)**

---

| | |
|:---|:---|
| **Notes to Portfolio of Investments (Continued)** | **Notes to Portfolio of Investments (Continued)** |
| (g) | Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above. The rates shown are the current interest rates at December 31, 2025. |
| (h) | All or a portion of the security represents unsettled bank loan commitments at December 31, 2025, where the rate may not be determined until the time of settlement. |
| (i) | Restricted security. Certain securities are restricted to resale. At December 31, 2025, these securities amounted to a value of $4,015,143 or 3.04% of net assets. The Fund generally bears the costs, if any, associated with the disposition of restricted securities. |
| (j) | Security is exempt from registration under Regulation S or Rule 144A of the Securities Act of 1933. These securities are considered restricted and may be resold in transactions exempt from registration. At December 31, 2025, the aggregate market value of these securities amounted to $64,264,170 or 48.64% of net assets. |
| (k) | Security is perpetual and has no stated maturity date. |
| (l) | Denotes all or a portion of security on loan. The total value of securities on loan as of December 31, 2025, was $2,536,405 or 1.92% of net assets. (Note 2). |
| (m) | The maturity date of the security has been extended past the date disclosed. The new maturity date is not available as of December 31, 2025. |
| (n) | Represents investment of security lending cash collateral and 7-day effective yield as of December 31, 2025. (Note 2). |
| (o) | Maturity value of $4,232,713. Collateralized by U.S. Government Agency obligations with a rate of 3.875%, maturity date of 5/31/27, and an aggregate market value, including accrued interest, of $4,317,033. |
| (p) | See Note 3 for aggregate cost for federal tax purposes. |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Forward contracts** | | | | | | |
| **Counterparty** | **Settlement Date** | **Currency Purchased** | **Currency Purchased** | **Currency Sold** | **Currency Sold** | **Unrealized Appreciation (Depreciation)** |
| Bank of America N.A. | 1/22/26 | USD | 124847 | NOK | 1271040 | $(1260) |
| Barclays Bank PLC | 1/22/26 | USD | 23582 | EUR | 20000 | 59 |
| Canadian Imperial Bank of Commerce | 1/22/26 | EUR | 5556138 | USD | 6520403 | 14430 |
| Canadian Imperial Bank of Commerce | 1/22/26 | USD | 23751 | EUR | 20181 | 15 |
| Citibank N.A. | 1/22/26 | USD | 38756082 | EUR | 32885824 | 77528 |
| Citibank N.A. | 1/22/26 | USD | 96989 | CAD | 133156 | (112) |
| Citibank N.A. | 1/22/26 | USD | 5681680 | GBP | 4235719 | (27745) |
|  |  |  |  |  |  | $62915 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Futures contracts** | **Futures contracts** | **Futures contracts** | **Futures contracts** | **Futures contracts** |
| | **Expiration<br> Date** | **Number of<br> Contracts** | **Notional<br> Amount** | **Value/Net Unrealized<br> Appreciation<br> (Depreciation)** |
| **Long** |  |  |  |  |
| Euro-BOBL | 3/06/26 | 26 | $3564622 | $(15330) |

---

---

| | |
|:---|:---|
| **Currency Legend** | **Currency Legend** |
| CAD | Canadian Dollar |
| EUR | Euro |
| GBP | British Pound |
| NOK | Norwegian Krone |
| USD | U.S. Dollar |

---

**Notes to Portfolio of Investments (Unaudited)**

*1. The Funds*

MassMutual Advantage Funds (the "Trust") is registered under the Investment Company Act of 1940, as amended, as an open-end management investment company. The Trust is organized under the laws of the Commonwealth of Massachusetts as a Massachusetts business trust pursuant to an Agreement and Declaration of Trust dated April 26, 2021. The Trust consists of the following series (each individually referred to as a "Fund" or collectively as the "Funds"):

MML Clinton Limited Term Municipal Fund (formerly known as MassMutual Clinton Limited Term Municipal Fund) ("Limited Term Municipal Fund")

MML Clinton Municipal Fund (formerly known as MassMutual Clinton Municipal Fund) ("Municipal Fund")

MML Clinton Municipal Credit Opportunities Fund (formerly known as MassMutual Clinton Municipal Credit Opportunities Fund) ("Municipal Credit Opportunities Fund")

MML Barings Global Floating Rate Fund (formerly known as MassMutual Global Floating Rate Fund) ("Global Floating Rate Fund")

MML Barings Unconstrained Income Fund (formerly known as MassMutual Global Credit Income Opportunities Fund) ("Unconstrained Income Fund")

*2. Significant Accounting Policies*

Each Fund is an investment company and accordingly follows the investment company accounting and reporting guidance of the Financial Accounting Standards Board ("FASB") Accounting Standards Codification Topic 946, Financial Services – Investment Companies.

Effective October 1, 2024, each Fund adopted FASB Accounting Standards Update 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures ("ASU 2023-07"). ASU 2023-07 impacts financial statement disclosures only and does not affect each Fund's financial position or the results of its operations. An operating segment is defined in Topic 280 as a component of a public entity that engages in business activities from which it may recognize revenues and incur expenses, has operating results that are regularly reviewed by the public entity's chief operating decision maker ("CODM") to make decisions about resources to be allocated to the segment and assess its performance, and has discrete financial information available. MML Investment Advisers, LLC ("MML Advisers") acts as each Fund's CODM. Each Fund represents a single operating segment, and the CODM monitors the operating results of each Fund as a whole and each Fund's long-term strategic asset allocation is pre-determined in accordance with the terms of its prospectus, based on a defined investment strategy which is executed by each Fund's portfolio managers as a team. The financial information in the form of each Fund's portfolio composition, total returns, expense ratios, and changes in net assets, which are used by the CODM to assess the segment's performance versus each Fund's comparative benchmark(s) and to make resource allocation decisions for each Fund's single segment, is consistent with that presented within each Fund's financial statements.

Investment Valuation

The net asset value of each Fund's shares is determined once daily as of the close of regular trading on the New York Stock Exchange ("NYSE"), on each day the NYSE is open for trading (a "business day"). The NYSE normally closes at 4:00 p.m. Eastern Time, but may close earlier on some days. If the NYSE is scheduled to close early, the business day will be considered to end as of the time of the NYSE's scheduled close. A Fund will not treat an intraday disruption in NYSE trading or other event that causes an unscheduled closing of the NYSE as a close of business of the NYSE for these purposes; instead, MML Advisers will determine the fair value of a Fund's securities in accordance with MML Advisers' fair valuation policy and procedures. On holidays and other days when the NYSE is closed, each Fund's net asset value generally is not calculated and the Funds do not anticipate accepting buy or sell orders. However, the value of each Fund's assets may still be affected on such days to the extent that a Fund holds foreign securities that trade on days that foreign securities markets are open.

Equity securities and derivative contracts that are actively traded on a national securities exchange or contract market are valued on the basis of information furnished by a pricing service, which provides the last reported sale price, or, in the case of futures contracts, the settlement price, for securities or derivatives listed on the exchange or contract market or the official closing price on the NASDAQ National Market System ("NASDAQ System"), or in the case of over-the-counter ("OTC") securities for which an official closing price is unavailable or not reported on the NASDAQ System, the last reported bid price. Portfolio securities traded on more than one national securities exchange are valued at the last price at the close of the exchange representing the principal market for such securities. Debt securities are valued on the basis of valuations furnished by a pricing service, which generally determines valuations taking into account factors such as institutional-size trading in similar securities, yield, quality, coupon rate, maturity, type of issue, trading characteristics, and other market data. Shares of other open-end mutual funds are valued at their closing net asset values as reported on each business day.

Investments for which market quotations are readily available are marked to market daily based on those quotations. Market quotations may be provided by third-party vendors or market makers, and may be determined on the basis of a variety of factors, such as broker quotations, financial modeling, and other market data, such as market indexes and yield curves, counterparty information, and foreign exchange rates. U.S. Government and agency securities may be valued on the basis of market quotations or using a model that may incorporate market observable data such as reported sales of similar securities, broker quotes, yields, bids, offers, quoted market prices, and reference data. The fair values of OTC derivative contracts, including forward, swap, and option contracts related to interest rates, foreign currencies, credit standing of reference entities, equity prices, or commodity prices, may be based on market quotations or may be modeled using a series of techniques, including simulation models, depending on the contract and the terms of the transaction. The fair values of asset-backed securities and mortgage-backed securities are estimated based on models that consider the estimated cash flows of each debt tranche of the issuer, established benchmark yield, and estimated tranche-specific spread to the benchmark yield based on the unique attributes of the tranche, including, but not limited to, prepayment speed assumptions and attributes of the collateral.

The Board of Trustees ("Trustees") have designated MML Advisers as the Funds' "valuation designee," responsible for determining the fair value, in good faith, of securities and other instruments held by the Funds for which market quotations are not readily available or for which such market quotations or values are considered by MML Advisers or a subadviser to be unreliable (including, for example, certain foreign securities, thinly-traded securities, certain restricted securities, certain initial public offerings, or securities whose values may have been affected by a significant event). It is possible that a significant amount of a Fund's assets will be subject to fair valuation in accordance with MML Advisers' fair valuation policy and procedures. The fair value determined for an investment by MML Advisers may differ from recent market prices for the investment and may be significantly different from the value realized upon the sale of such investment.

The Funds may invest in securities that are traded principally in foreign markets and that trade on weekends and other days when the Funds do not price their shares. As a result, the values of the Funds' portfolio securities may change on days when the prices of the Funds' shares are not calculated. The prices of the Funds' shares will reflect any such changes when the prices of the Funds' shares are next calculated, which is the next business day. The Funds may use fair value pricing more frequently for securities primarily traded in foreign markets because, among other things, most foreign markets close well before the Funds value their securities. The earlier close of these foreign markets gives rise to the possibility that significant events, including broad market moves, may have occurred in the interim. The Funds' investments may be priced based on fair values provided by a third-party vendor, based on certain factors and methodologies applied by such vendor, in the event that there is movement in the U.S. market, between the close of the foreign market and the time the Funds calculate their net asset values. All assets and liabilities expressed in foreign currencies are converted into U.S. dollars at the mean between the buying and selling rates of such currencies against the U.S. dollar at the end of each business day.

**Notes to Portfolio of Investments (Unaudited) (Continued)**

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A three-tier hierarchy is utilized to maximize the use of observable market data inputs and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk, for example, the risk inherent in a particular valuation technique used to measure fair value (such as a pricing model) and/or the risk inherent in the inputs to the valuation technique. Inputs may be observable or unobservable. Observable inputs are inputs that reflect the assumptions market participants would use in pricing the asset or liability and are developed based on market data obtained from sources independent of the reporting entity. Unobservable inputs are inputs that reflect the reporting entity's own assumptions about the assumptions market participants would use in pricing the asset or liability and are developed based on the best information available in the circumstances. The three-tier hierarchy of inputs is summarized in the three broad Levels listed below. The inputs or methodology used for valuing investments are not necessarily an indication of the risk associated with investing in those investments and the determination of the significance of a particular input to the fair value measurement in its entirety requires judgment and consideration of factors specific to each security.

Level 1 – quoted prices (unadjusted) in active markets for identical investments that the Funds can access at the measurement date

Level 2 – other significant observable inputs (including fair value factors, quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)

Level 3 – significant unobservable inputs, to the extent observable inputs are not available (including the Funds' own assumptions in determining the fair value of investments)

The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example, the type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3.

Changes in valuation techniques may result in transfers in or out of an investment's assigned Level within the hierarchy. In addition, in periods of market dislocation, the observability of prices and inputs may be reduced for many instruments. This condition, as well as changes related to liquidity of investments, could cause a security to be reclassified between Levels.

In certain cases, the inputs used to measure fair value may fall into different Levels of the fair value hierarchy. In such cases, for disclosure purposes, the Level in the fair value hierarchy within which the fair value measurement falls is determined based on the lowest Level input that is significant to the overall fair value measurement.

The Limited Term Municipal Fund, Municipal Fund, and Municipal Credit Opportunities Fund characterized all investments at Level 2, as of December 31, 2025. For each Fund noted in the preceding sentence, the level classification by major category of investments is the same as the category presentation in the Portfolio of Investments.

**Notes to Portfolio of Investments (Unaudited) (Continued)**

The following is the aggregate value by input level, as of December 31, 2025, for the remaining Funds' investments:

**Global Floating Rate Fund**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Asset Investments** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Common Stock | $— | $784514 | $550344 | $1334858 |
| Preferred Stock |  | 10483 |  | 10483 |
| Bank Loans |  | 105614561 | 707996 | 106322557 |
| Corporate Debt |  | 10684643 |  | 10684643 |
| Warrants |  |  |  |  |
| Short-Term Investments |  | 6246413 |  | 6246413 |
| Unfunded Bank Loan Commitments\* |  | 705 |  | 705 |
| Total Investments | $— | $123341319 | $1258340 | $124599659 |
| **Liability Investments** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unfunded Bank Loan Commitments\* | $— | $(1 | $— | $(1) |
| **Asset Derivatives** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Forward Contracts | $— | $91813 | $— | $91813 |
| **Liability Derivatives** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Forward Contracts | $— | $(14692 | $— | $(14692) |

---

**Notes to Portfolio of Investments (Unaudited) (Continued)**

**Unconstrained Income Fund**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Asset Investments** | **Level 1** | **Level 2** | **Level 3** |  | **Total** |
| Common Stock |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;France | $— | $— | $— | <sup>+</sup> | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Germany |  |  |  | <sup>+</sup> |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Norway |  | 133287 |  |  | 133287 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Spain |  |  |  | <sup>+</sup> |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United Kingdom |  |  |  | <sup>+</sup> |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United States |  | 136308 |  | <sup>+</sup> | 136308 |
| Preferred Stock |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United States |  | 40045 |  |  | 40045 |
| Bank Loans |  | 55172178 | 214307 |  | 55386485 |
| Corporate Debt |  | 60648223 |  | <sup>+</sup> | 60648223 |
| Non-U.S. Government Agency Obligations |  | 9943336 |  |  | 9943336 |
| Sovereign Debt Obligations |  | 321066 |  |  | 321066 |
| Warrants |  |  |  |  |  |
| Rights |  |  |  | <sup>+</sup> |  |
| Short-Term Investments | 2587831 | 4232243 |  |  | 6820074 |
| Unfunded Bank Loan Commitments\* |  | 555 |  |  | 555 |
| Total Investments | $2587831 | $130627241 | $214307 |  | $133429379 |
| **Asset Derivatives** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Forward Contracts | $— | $92032 | $— |  | $92032 |
| **Liability Derivatives** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Forward Contracts | $— | $(29117) | $— |  | $(29117) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures Contracts | (15330) |  |  |  | (15330) |
| Total | $(15330) | $(29117) | $— |  | $(44447) |

---

---

| | |
|:---|:---|
| \* | *Unfunded bank loan commitments are valued at the unrealized appreciation (depreciation) on the commitment.* |
| + | Represents a security at $0 value as of December 31, 2025. |

---

**Notes to Portfolio of Investments (Unaudited) (Continued)**

Derivative Instruments

Derivatives are financial instruments whose values are based on the values of one or more underlying indicators, such as a security, asset, currency, interest rate, or index. Derivative transactions can create investment leverage and may be highly volatile. Losses from derivatives can be substantially greater than the derivatives' original cost and can sometimes be unlimited. A Fund may not be able to close out a derivative transaction at a favorable time or price.

Please refer to the Funds' most recent Form N-CSR and Prospectus(es) and SAI(s) Statement(s) of Additional Information which can be found on the Securities and Exchange Commission's EDGAR database on its website at <u>https://www.sec.gov</u> for more information regarding the derivatives and other investments held by the Fund(s).

*Securities Lending*

Each Fund, other than the Limited Term Municipal Fund, Municipal Fund, and Municipal Credit Opportunities Fund, may lend its securities; however, lending cannot exceed 33% of the total assets of the Fund taken at current value. The Funds' securities lending activities are governed by a Securities Lending Agency Agreement ("Lending Agreement") between each Fund and the lending agent ("Agent"). The Lending Agreement authorizes the Agent to lend portfolio securities held by a Fund to approved borrowers (each, a "Borrower").

Each Fund expects that in connection with any securities on loan, the loan will be secured continuously by collateral consisting of cash (U.S. currency) and/or securities (U.S. Treasury and Agency obligations) adjusted daily to have value at least equal to the current market value of the securities loaned. The market value of the loaned securities is determined at the close of business of a Fund and any additional collateral is delivered to the Fund the next business day. The Funds bear the risk of loss with respect to the investment of cash collateral. As with other extensions of credit, the Funds may bear the risk of delay in recovery of the loaned securities or even loss of rights in the collateral should the Borrower of the securities fail financially. Pursuant to the Lending Agreement, the Agent has provided indemnification to the Funds in the event of default by a Borrower with respect to a loan. The Funds receive compensation for lending their securities in the form of a securities loan fee paid by the Borrower, as well as a share of the income earned on investment of the cash collateral received for the loaned securities. At December 31, 2025, the Funds' collateral was equal to or greater than 100% of the market value of securities on loan and all of the Funds' cash collateral was invested in the State Street Navigator Securities Lending Government Money Market Portfolio.

Subject to the terms of the Lending Agreement and the agreement between the Agent and the applicable Borrower ("Borrowing Agreement"), security loans can be terminated by the Agent, the Fund, or the Borrower and the related securities must be returned within the earlier of the customary settlement period for such securities or the period of time specified in the Borrowing Agreement.

Accounting for Investment Transactions

Investment transactions are accounted for on the trade date. Realized gains and losses on sales of investments and unrealized appreciation and depreciation of investments are computed by the specific identification cost method. Proceeds received from litigation, if any, are included in realized gains on investment transactions for any investments that are no longer held in the portfolio and as a reduction in cost for investments that continue to be held in the portfolio. Interest income, adjusted for amortization of discounts and premiums on debt securities, is earned from the settlement date and is recorded on the accrual basis. Dividend income is recorded on the ex-dividend date. Withholding taxes on foreign interest, dividends, and capital gains have been provided for in accordance with the applicable country's tax rules and rates. Foreign dividend income is recorded on the ex-dividend date or as soon as practicable after the Fund determines the existence of a dividend declaration after exercising reasonable due diligence. Distributions received on securities that represent a return of capital or capital gains are recorded as a reduction of cost of investments and/or as a realized gain.

Foreign Currency Translation

The books and records of the Funds are maintained in U.S. dollars. The market values of foreign currencies, foreign securities, and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars at the mean of the buying and selling rates of such currencies against the U.S. dollar at the end of each business day. Purchases and sales of foreign securities and income and expense items are translated at the rates of exchange prevailing on the respective dates of such transactions. The Funds do not isolate that portion of the results of operations arising from changes in the exchange rates from that portion arising from changes in the market prices of securities. Net realized foreign currency gains and losses resulting from changes in exchange rates include foreign currency gains and losses between trade date and settlement date on investment securities transactions, foreign currency transactions, and the difference between the amounts of dividends or interest recorded on the books of the Funds and the amount actually received.

*Foreign Securities*

The Unconstrained Income Fund invests a significant amount of its assets in foreign securities. Foreign securities, including American Depositary Receipts, are subject to additional risks compared to securities of U.S. issuers, including international trade, currency, political, regulatory, public health, and diplomatic risks. In addition, fluctuations in currency exchange rates may favorably or unfavorably affect the values of foreign securities and the price of a Fund's shares. Emerging markets securities are subject to greater risks than securities issued in developed foreign markets, including less liquidity, less stringent investor protection and disclosure standards, less reliable settlement practices, greater price volatility, higher relative rates of inflation, greater political, economic, and social instability, greater custody and operational risks, greater risk of new or inconsistent government treatment of or restrictions on issuers and instruments, and greater volatility in currency exchange rates, and are more susceptible to environmental problems.

Market Risk

The value of a Fund's portfolio securities may decline, at times sharply and unpredictably, as a result of unfavorable market-induced changes affecting particular industries, sectors, or issuers. Stock and bond markets can decline significantly in response to issuer, market, economic, industry, political, regulatory, geopolitical, public health, and other conditions, as well as investor perceptions of these conditions. A Fund is subject to risks affecting issuers, such as management performance, financial leverage, industry problems, and reduced demand for goods or services.

Dividends and Distributions to Shareholders

Dividends from net investment income are declared daily and paid monthly. Dividends from net investment income may also be distributed at other times throughout the year as required to satisfy tax or regulatory requirements. Distributions of any net realized capital gains of each Fund are declared and paid annually and at other times as may be required to satisfy tax or regulatory requirements.

**Notes to Portfolio of Investments (Unaudited) (Continued)**

Distributions to shareholders are recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from generally accepted accounting principles. As a result, net investment income and net realized capital gains on investment transactions for a reporting period may differ significantly from distributions during such period.

3. Federal Income Tax Information

It is each Fund's intent to continue to comply with the provisions of Subchapter M of the Internal Revenue Code of 1986, as amended, applicable to a regulated investment company. Under such provisions, the Funds would not be subject to U.S. federal income taxes on their ordinary income and net realized capital gains to the extent they are distributed or deemed to have been distributed to their shareholders. Therefore, the Funds have not made any provision for U.S. federal income tax.

At December 31, 2025, the aggregate cost of investments and the unrealized appreciation (depreciation) in the value of all investments owned by the Fund(s), as computed on a U.S. federal income tax basis, were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Federal Income Tax Cost | Tax Basis Unrealized Appreciation | Tax Basis Unrealized (Depreciation) | Net Unrealized Appreciation (Depreciation) |
| Limited Term Municipal Fund | $58182017 | $441606 | $(170329) | $271277 |
| Municipal Fund | 62539139 | 484192 | (492247) | (8055) |
| Municipal Credit Opportunities Fund | 55704006 | 341678 | (797978) | (456300) |
| Global Floating Rate Fund | 130473761 | 2949663 | (8824470) | (5874807) |
| Unconstrained Income Fund | 139610123 | 3117616 | (9298915) | (6181299) |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** MassMutual Advantage Funds

- **b. Investment Company Act file number:** 811-23703

- **c. CIK number of Registrant:** 0001859808

- **d. LEI of Registrant:** 5493000RE63N3B1HWL58

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

  - **Street Address 1:** 1295 STATE STREET

  - **City:** SPRINGFIELD

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 01111-0001

  - **Telephone number:** 413-744-1000

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

- **a. Name of Series:** MassMutual Global Credit Income Opportunities Fund

- **b. EDGAR series identifier (if any):** S000072763

- **c. LEI of Series:** 5493003NSCR9BZO1UC68

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

- **a. Date of fiscal year-end:** 2026-09-30

- **b. Date as of which information is reported:** 2025-12-31

**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:** $142486225.68

**Total Liabilities:** $10570939.92

**Net Assets:** $131915285.76

**Delayed Delivery Securities:** $3436139.87

**Cash Not Reported:** $802338.82

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -12.82000000 | **1-Year:** -365.04000000 | **5-Year:** -1122.75000000 | **10-Year:** -436.12000000 | **30-Year:** 0.00000000

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

- **3-Month:** -314.97000000 | **1-Year:** -10174.29000000 | **5-Year:** -26125.67000000 | **10-Year:** -5041.68000000 | **30-Year:** -956.51000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000229286 | 0.17%                | 0.06%                | 0.18%                |
| Class ID C000229287 | 0.14%                | 0.04%                | 0.15%                |
| Class ID C000229288 | 0.04%                | 0.19%                | 0.04%                |
| Class ID C000229289 | 0.08%                | -0.02%               | 0.08%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $236534.66               | $-1752373.00                               |
| Month 2  | $-125978.10              | $-255912.19                                |
| Month 3  | $660547.80               | $-750610.54                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AAP Buyer Inc                                         | AAP Buyer Inc Term Loan B                                                               | CUSIP: 00036FAB0<br>LEI: 254900BOO8W9IR1VYO11 | Long             | LON              | CORP              | US        |    252955 | PA      | $253746.63    | 0.19%             | 2031-09-09      | Floating      | 6.47%                 | No            |                  2 | On Loan: No      |
| AMC Entertainment Holdings, Inc.                      | AMC Entertainment Holdings Inc 2024 Term Loan                                           | CUSIP: 00164CAD7<br>LEI: 549300ZO77UNR6NRBR11 | Long             | LON              | CORP              | US        |    448376 | PA      | $448421.09    | 0.34%             | 2029-01-04      | Floating      | 10.73%                | No            |                  2 | On Loan: No      |
| Learfield Communications, LLC                         | Learfield Communications LLC 2024 Term Loan B                                           | CUSIP: 00165HAL7<br>LEI: 549300177GK4LMS8T214 | Long             | LON              | CORP              | US        |    143739 | PA      | $143816.68    | 0.11%             | 2028-06-30      | Floating      | 8.47%                 | No            |                  2 | On Loan: No      |
| Trident TPI Holdings Inc                              | Trident TPI Holdings Inc 2024 Term Loan B7                                              | CUSIP: 00216EAL3<br>LEI: 549300TPLK304J3RNC85 | Long             | LON              | CORP              | US        |    601294 | PA      | $576491.03    | 0.44%             | 2028-09-15      | Floating      | 7.42%                 | No            |                  2 | On Loan: No      |
| AS MILEAGE PLAN IP LTD                                | AS Mileage Plan IP Ltd                                                                  | CUSIP: 00218QAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    150000 | PA      | $151041.09    | 0.11%             | 2029-10-20      | Fixed         | 5.02%                 | Yes           |                  2 | On Loan: No      |
| AS MILEAGE PLAN IP LTD                                | AS Mileage Plan IP Ltd                                                                  | CUSIP: 00218QAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    150000 | PA      | $151352.19    | 0.11%             | 2031-10-20      | Fixed         | 5.31%                 | Yes           |                  2 | On Loan: No      |
| ADAPTHEALTH LLC                                       | AdaptHealth LLC                                                                         | CUSIP: 00653VAE1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $195041.78    | 0.15%             | 2030-03-01      | Fixed         | 5.13%                 | Yes           |                  2 | On Loan: —       |
| OSAIC HOLDINGS INC                                    | Osaic Holdings Inc                                                                      | CUSIP: 00791GAB3<br>LEI: 549300XL60BDV6UW5C86 | Long             | DBT              | CORP              | US        |    150000 | PA      | $156692.97    | 0.12%             | 2032-08-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| OSAIC HOLDINGS INC                                    | Osaic Holdings Inc                                                                      | CUSIP: 00791GAC1<br>LEI: 549300XL60BDV6UW5C86 | Long             | DBT              | CORP              | US        |    114000 | PA      | $118525.36    | 0.09%             | 2033-08-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Ahead DB Holdings LLC                                 | Ahead DB Holdings LLC 2024 Term Loan B4                                                 | CUSIP: 00866HAH8<br>LEI: 254900L07WFL833JX193 | Long             | LON              | CORP              | US        |    248753 | PA      | $248243.20    | 0.19%             | 2031-02-03      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| Albion Financing 3 SARL                               | Albion Financing 3 SARL 2025 EUR Term Loan                                              | CUSIP: 01330EAC2<br>LEI: 259400QTZA08U7DIP580 | Long             | LON              | CORP              | LU        |    510000 | PA      | $605968.84    | 0.46%             | 2031-05-21      | Floating      | 5.01%                 | No            |                  2 | On Loan: No      |
| AlixPartners LLP                                      | AlixPartners LLP 2025 USD Term Loan                                                     | CUSIP: 01642PBE5<br>LEI: 5493005G2MHUFTGARL57 | Long             | LON              | CORP              | US        |    392285 | PA      | $392701.24    | 0.30%             | 2032-08-12      | Floating      | 5.72%                 | No            |                  2 | On Loan: No      |
| Alliance Laundry Systems LLC                          | Alliance Laundry Systems LLC 2024 Term Loan B                                           | CUSIP: 01862LBA5<br>LEI: 549300YBOGK6MBI5ND34 | Long             | LON              | CORP              | US        |    123421 | PA      | $123883.34    | 0.09%             | 2031-08-19      | Floating      | 6.11%                 | No            |                  2 | On Loan: No      |
| ALLIANT HOLD / CO-ISSUER                              | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                          | CUSIP: 01883LAE3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $152726.32    | 0.12%             | 2028-04-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| ALLIANT HOLD / CO-ISSUER                              | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                          | CUSIP: 01883LAF0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    251000 | PA      | $260406.33    | 0.20%             | 2031-01-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Alpha Generation LLC                                  | Alpha Generation LLC Term Loan B                                                        | CUSIP: 02072UAC6<br>LEI: 254900K5V62L4YGVKF49 | Long             | LON              | CORP              | US        |    230931 | PA      | $231531.15    | 0.18%             | 2031-09-30      | Floating      | 5.72%                 | No            |                  2 | On Loan: No      |
| ALPHA GENERATION LLC                                  | Alpha Generation LLC                                                                    | CUSIP: 02073LAA9<br>LEI: 254900K5V62L4YGVKF49 | Long             | DBT              | CORP              | US        |    190000 | PA      | $196686.04    | 0.15%             | 2032-10-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| ALTICE FRANCE SA                                      | Altice France SA                                                                        | CUSIP: 02090DAD0<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $191736.38    | 0.15%             | 2032-04-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ALTA EQUIPMENT GROUP                                  | Alta Equipment Group Inc                                                                | CUSIP: 02128LAC0<br>LEI: 549300DGOB28CLGS1X27 | Long             | DBT              | CORP              | US        |    250000 | PA      | $225774.55    | 0.17%             | 2029-06-01      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| AMENTUM HOLDINGS INC                                  | Amentum Holdings Inc                                                                    | CUSIP: 02352BAA3<br>LEI: 2549009FJIBLW40CU216 | Long             | DBT              | CORP              | US        |    150000 | PA      | $158112.60    | 0.12%             | 2032-08-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| American Airlines Inc                                 | American Airlines Inc 2024 1st Lien Term Loan B                                         | CUSIP: 02376CBR5<br>LEI: IWUQB36BXD6OWD6X4T14 | Long             | LON              | CORP              | US        |    247449 | PA      | $248015.64    | 0.19%             | 2028-02-15      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| Amneal Pharmaceuticals LLC                            | Amneal Pharmaceuticals LLC 2025 Term Loan B                                             | CUSIP: 03167DAR5<br>LEI: 54930037VIXE7LRZ1M66 | Long             | LON              | CORP              | US        |    498750 | PA      | $502490.63    | 0.38%             | 2032-08-01      | Floating      | 7.22%                 | No            |                  2 | On Loan: No      |
| AMWINS GROUP INC                                      | AmWINS Group Inc                                                                        | CUSIP: 031921AC3<br>LEI: 549300SJE7MUB8NMRG61 | Long             | DBT              | CORP              | US        |    183000 | PA      | $188199.40    | 0.14%             | 2029-02-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| AmWINS Group Inc                                      | AmWINS Group Inc 2025 Term Loan B                                                       | CUSIP: 03234TBA5<br>LEI: 549300SJE7MUB8NMRG61 | Long             | LON              | CORP              | US        |    219431 | PA      | $219979.97    | 0.17%             | 2032-01-30      | Floating      | 5.97%                 | No            |                  2 | On Loan: No      |
| Apro LLC                                              | Apro LLC 2024 Term Loan B                                                               | CUSIP: 03834XAP8<br>LEI: 549300HALLMPVGYAKP14 | Long             | LON              | CORP              | US        |    194390 | PA      | $195178.97    | 0.15%             | 2031-07-09      | Floating      | 7.68%                 | No            |                  2 | On Loan: No      |
| New Arclin US Holding Corp                            | New Arclin US Holding Corp 2021 Term Loan                                               | CUSIP: 03880YAC8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    190909 | PA      | $190670.31    | 0.14%             | 2028-09-30      | Floating      | 7.32%                 | Yes           |                  2 | On Loan: No      |
| ARETEC GROUP INC                                      | Aretec Group Inc 2025 Repriced Term Loan                                                | CUSIP: 04009DAJ3<br>LEI: 549300NV2T8A33L0PQ58 | Long             | LON              | CORP              | US        |    198500 | PA      | $199121.31    | 0.15%             | 2030-08-09      | Floating      | 6.72%                 | No            |                  2 | On Loan: No      |
| ARETEC GROUP INC                                      | Aretec Group Inc                                                                        | CUSIP: 04020JAA4<br>LEI: 549300NV2T8A33L0PQ58 | Long             | DBT              | CORP              | US        |    180000 | PA      | $194245.74    | 0.15%             | 2030-08-15      | Fixed         | 10.00%                | Yes           |                  2 | On Loan: No      |
| Ascend Learning LLC                                   | Ascend Learning LLC 2025 Repriced Term Loan B                                           | CUSIP: 04349HAN4<br>LEI: 549300T466HKRLVCD610 | Long             | LON              | CORP              | US        |    337551 | PA      | $338333.89    | 0.26%             | 2028-12-11      | Floating      | 6.72%                 | No            |                  2 | On Loan: No      |
| Asurion LLC                                           | Asurion LLC 2021 Second Lien Term Loan B4                                               | CUSIP: 04649VBA7<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |    225862 | PA      | $221344.83    | 0.17%             | 2029-01-20      | Floating      | 9.08%                 | No            |                  2 | On Loan: No      |
| Asurion LLC                                           | Asurion LLC 2022 Term Loan B10                                                          | CUSIP: 04649VBB5<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |    297179 | PA      | $297366.69    | 0.23%             | 2028-08-19      | Floating      | 7.82%                 | No            |                  2 | On Loan: No      |
| Athenahealth Group Inc                                | Athenahealth Group Inc 2022 Term Loan B                                                 | CUSIP: 04686RAB9<br>LEI: 254900AA3KZN4Q7A5Z33 | Long             | LON              | CORP              | US        |    197525 | PA      | $197730.05    | 0.15%             | 2029-02-15      | Floating      | 6.47%                 | No            |                  2 | On Loan: No      |
| AZORRA FINANCE                                        | Azorra Finance Ltd                                                                      | CUSIP: 05480AAB1<br>LEI: 254900MC1HXDAVUUP395 | Long             | DBT              | CORP              | KY        |    122000 | PA      | $127835.55    | 0.10%             | 2031-01-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| B&G FOODS INC                                         | B&G Foods Inc                                                                           | CUSIP: 05508WAC9<br>LEI: 549300TRW1LZMDJZAQ78 | Long             | DBT              | CORP              | US        |     31000 | PA      | $30499.97     | 0.02%             | 2028-09-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Aveanna Healthcare LLC                                | Aveanna Healthcare LLC 2025 Term Loan B                                                 | CUSIP: 05549DAN8<br>LEI: 5493006D6JRLPIY8YV18 | Long             | LON              | CORP              | US        |    323267 | PA      | $324958.07    | 0.25%             | 2032-09-17      | Floating      | 7.47%                 | No            |                  2 | On Loan: No      |
| Nvent Electric Public Limited Company                 | Nvent Electric Public Limited Company Term Loan B                                       | CUSIP: 05614GAC5<br>LEI: 254900LK60A9DK5W5N81 | Long             | LON              | CORP              | US        |    214978 | PA      | $216255.42    | 0.16%             | 2032-01-30      | Floating      | 6.84%                 | No            |                  2 | On Loan: No      |
| Bally's Corporation                                   | Bally's Corporation 2021 Term Loan B                                                    | CUSIP: 05875CAB0<br>LEI: 549300NS4D5IK406VT62 | Long             | LON              | CORP              | US        |    300000 | PA      | $295467.00    | 0.22%             | 2028-10-02      | Floating      | 7.37%                 | No            |                  2 | On Loan: No      |
| BANC CREDITO INVERSIONES                              | Banco de Credito e Inversiones SA                                                       | CUSIP: 05890PAC0<br>LEI: 549300E9E5Y3PKW24142 | Long             | DBT              | CORP              | CL        |    200000 | PA      | $216180.00    | 0.16%             | 2029-05-08      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| BOXER PARENT COMPANY INC                              | Boxer Parent Company Inc 2024 2nd Lien Term Loan                                        | CUSIP: 05988HAN7<br>LEI: 5493006T045HLTF7YX04 | Long             | LON              | CORP              | US        |    200000 | PA      | $192150.00    | 0.15%             | 2032-07-30      | Floating      | 9.47%                 | No            |                  2 | On Loan: No      |
| Boxer Parent Company Inc                              | Boxer Parent Company Inc 2025 USD Term Loan B                                           | CUSIP: 05988HAQ0<br>LEI: 5493006T045HLTF7YX04 | Long             | LON              | CORP              | US        |    549151 | PA      | $547289.15    | 0.41%             | 2031-07-30      | Floating      | 6.82%                 | No            |                  2 | On Loan: No      |
| Great Outdoors Group LLC                              | Great Outdoors Group LLC 2025 Term Loan B                                               | CUSIP: 07014QAP6<br>LEI: 549300IYLDI2E8I2AU46 | Long             | LON              | CORP              | US        |    276606 | PA      | $277989.35    | 0.21%             | 2032-01-23      | Floating      | 6.97%                 | No            |                  2 | On Loan: No      |
| BAUSCH HEALTH COS INC                                 | Bausch Health Cos Inc                                                                   | CUSIP: 071734AH0<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |    112000 | PA      | $98000.00     | 0.07%             | 2028-01-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BAUSCH HEALTH COS INC                                 | Bausch Health Cos Inc                                                                   | CUSIP: 071734AN7<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |    150000 | PA      | $134250.00    | 0.10%             | 2028-06-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Bayonne Energy Center LLC                             | Bayonne Energy Center LLC Term Loan B                                                   | CUSIP: 07288VAF6<br>LEI: 54930011FOZUNGHGHM74 | Long             | LON              | CORP              | US        |    146077 | PA      | $146899.83    | 0.11%             | 2032-10-01      | Floating      | 6.67%                 | No            |                  2 | On Loan: No      |
| BCPE FLAVOR DEBT/ISSUER                               | BCPE Flavor Debt Merger Sub LLC and BCPE Flavor Issuer Inc                              | CUSIP: 072933AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $191129.92    | 0.14%             | 2032-07-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Belron Finance 2019 LLC                               | Belron Finance 2019 LLC 2025 Repriced Term Loan B                                       | CUSIP: 08078UAN3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    198500 | PA      | $199492.51    | 0.15%             | 2031-10-16      | Floating      | 6.12%                 | No            |                  2 | On Loan: No      |
| Bingo Holdings I LLC                                  | Bingo Holdings I LLC Term Loan B                                                        | CUSIP: 09081AAC4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    145181 | PA      | $142277.24    | 0.11%             | 2032-06-30      | Floating      | 8.42%                 | No            |                  2 | On Loan: No      |
| BRIGHTSTAR LOT/BRIGHSTAR                              | Brightstar Lottery PLC/ Brightstar Global Solutions Corp                                | CUSIP: 108922AA3<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |    300000 | PA      | $297850.47    | 0.23%             | 2033-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ESC GCB BRIGGS STRAT                                  | ESC GCB BRIGGS   STRAT                                                                  | CUSIP: 109ESCAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    514000 | PA      | $0.00         | 0.00%             | 2049-12-15      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| Broadstreet Partners Inc                              | Broadstreet Partners Inc 2024 Term Loan B4                                              | CUSIP: 11132VAY5<br>LEI: 549300BS9N54G8DD0R75 | Long             | LON              | CORP              | US        |    287936 | PA      | $288768.24    | 0.22%             | 2031-06-13      | Floating      | 6.47%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                                | CCO Holdings LLC / CCO Holdings Capital Corp                                            | CUSIP: 1248EPCK7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    325000 | PA      | $298626.28    | 0.23%             | 2031-02-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| VIRIDIEN                                              | Viridien                                                                                | CUSIP: 12531QAA3<br>LEI: 969500FCVQ5SLAAUJV59 | Long             | DBT              | CORP              | FR        |    361000 | PA      | $380667.86    | 0.29%             | 2030-10-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                              | CHS/Community Health Systems Inc                                                        | CUSIP: 12543DBN9<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |    270000 | PA      | $294688.80    | 0.22%             | 2032-01-15      | Fixed         | 10.88%                | Yes           |                  2 | On Loan: No      |
| Charlotte Buyer Inc                                   | Charlotte Buyer Inc 2025 Repriced Term Loan B                                           | CUSIP: 12568YAH7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    296753 | PA      | $291049.52    | 0.22%             | 2028-02-11      | Floating      | 8.01%                 | No            |                  2 | On Loan: No      |
| CMG MEDIA CORPORATION                                 | CMG Media Corp                                                                          | CUSIP: 125773AA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $214765.00    | 0.16%             | 2029-06-18      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                                      | CSC Holdings LLC                                                                        | CUSIP: 126307BD8<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    300000 | PA      | $107157.33    | 0.08%             | 2030-12-01      | Fixed         | 4.63%                 | Yes           |                  2 | On Loan: No      |
| CPC Acquisition Corp                                  | CPC Acquisition Corp Term Loan                                                          | CUSIP: 12656UAB1<br>LEI: 254900UFA4AMH3PZZW32 | Long             | LON              | CORP              | US        |    179227 | PA      | $147527.22    | 0.11%             | 2027-12-29      | Floating      | 7.68%                 | No            |                  2 | On Loan: No      |
| CVR ENERGY INC                                        | CVR Energy Inc                                                                          | CUSIP: 12662PAD0<br>LEI: 529900SOYZIXZBTXB558 | Long             | DBT              | CORP              | US        |    150000 | PA      | $147911.31    | 0.11%             | 2028-02-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| CVR ENERGY INC                                        | CVR Energy Inc                                                                          | CUSIP: 12662PAF5<br>LEI: 529900SOYZIXZBTXB558 | Long             | DBT              | CORP              | US        |    150000 | PA      | $154177.10    | 0.12%             | 2029-01-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| CACI INTERNATIONAL INC                                | CACI International Inc                                                                  | CUSIP: 127190AE6<br>LEI: SYRPI2D1O9WRTS2WX210 | Long             | DBT              | CORP              | US        |     61000 | PA      | $63115.40     | 0.05%             | 2033-06-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Caesars Entertainment Inc                             | Caesars Entertainment Inc Term Loan B                                                   | CUSIP: 12768EAG1<br>LEI: 549300FA4CTCW903Y781 | Long             | LON              | CORP              | US        |    244012 | PA      | $241815.87    | 0.18%             | 2030-02-06      | Floating      | 5.97%                 | No            |                  2 | On Loan: No      |
| CAESARS ENTERTAIN INC                                 | Caesars Entertainment Inc                                                               | CUSIP: 12769GAD2<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |    200000 | PA      | $194489.78    | 0.15%             | 2032-10-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA BUYER/ATLANTI                              | California Buyer Ltd / Atlantica Sustainable Infrastructure PLC                         | CUSIP: 13005HAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |    350000 | PA      | $350577.15    | 0.27%             | 2032-02-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Canyon Capital CLO Ltd                                | Canyon Capital CLO 2022-2 Ltd                                                           | CUSIP: 13877MAN4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |    825000 | PA      | $795467.48    | 0.60%             | 2038-04-15      | Floating      | 8.65%                 | No            |                  2 | On Loan: No      |
| CARVANA CO                                            | Carvana Co                                                                              | CUSIP: 146869AM4<br>LEI: 5493003WEAK2PJ5WS063 | Long             | DBT              | CORP              | US        |    321000 | PA      | $362225.67    | 0.27%             | 2031-06-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| CELANESE US HOLDINGS LLC                              | Celanese US Holdings LLC                                                                | CUSIP: 15089QAP9<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |    200000 | PA      | $208124.85    | 0.16%             | 2032-07-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP/US FIN                              | Clarios Global LP / Clarios US Finance Co                                               | CUSIP: 18060TAD7<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    217000 | PA      | $226506.77    | 0.17%             | 2030-02-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO                              | Clear Channel Outdoor Holdings Inc                                                      | CUSIP: 18453HAG1<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |    162000 | PA      | $169637.26    | 0.13%             | 2031-02-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| CLYDESDALE ACQUISITION                                | Clydesdale Acquisition Holdings Inc                                                     | CUSIP: 18972EAA3<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |    150000 | PA      | $152617.35    | 0.12%             | 2029-04-15      | Fixed         | 6.63%                 | Yes           |                  2 | On Loan: No      |
| CLYDESDALE ACQUISITION                                | Clydesdale Acquisition Holdings Inc                                                     | CUSIP: 18972EAB1<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |    180000 | PA      | $183002.22    | 0.14%             | 2030-04-15      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| Clydesdale Acquisition Holdings Inc                   | Clydesdale Acquisition Holdings Inc Term Loan B                                         | CUSIP: 18972FAC6<br>LEI: 254900QKSDYFR3K5YD98 | Long             | LON              | CORP              | US        |    229430 | PA      | $229468.95    | 0.17%             | 2029-04-13      | Floating      | 6.89%                 | No            |                  2 | On Loan: No      |
| COMMSCOPE LLC                                         | CommScope LLC                                                                           | CUSIP: 203372AV9<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |    150000 | PA      | $150589.05    | 0.11%             | 2028-07-01      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| Connect Holding II LLC                                | Connect Holding II LLC Delayed Draw Term Loan                                           | CUSIP: 20752KAP8<br>LEI: 254900LCX7S2QHYUOI31 | Long             | LON              | CORP              | US        |    150000 | PA      | $130266.00    | 0.10%             | 2031-04-03      | Floating      | 7.99%                 | No            |                  2 | On Loan: No      |
| Altium Packaging LLC                                  | Altium Packaging LLC 2024 Term Loan B                                                   | CUSIP: 20902CAX8<br>LEI: 549300FG8OPBIML5F686 | Long             | LON              | CORP              | US        |    295500 | PA      | $284788.13    | 0.22%             | 2031-06-11      | Floating      | 6.22%                 | No            |                  2 | On Loan: No      |
| CONSOLIDATED ENERGY FIN                               | Consolidated Energy Finance SA                                                          | CUSIP: 20914UAE6<br>LEI: 549300PUNIS0USNSL750 | Long             | DBT              | CORP              | LU        |    300000 | PA      | $289885.98    | 0.22%             | 2026-05-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| CONSOLIDATED ENERGY FIN                               | Consolidated Energy Finance SA                                                          | CUSIP: 20914UAF3<br>LEI: 549300PUNIS0USNSL750 | Long             | DBT              | CORP              | LU        |    150000 | PA      | $97500.00     | 0.07%             | 2028-10-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Cotiviti Corporation                                  | Cotiviti Corporation 2024 Term Loan                                                     | CUSIP: 22164MAB3<br>LEI: 254900YAQHVRTG4IFI64 | Long             | LON              | CORP              | US        |    294418 | PA      | $282397.16    | 0.21%             | 2031-05-01      | Floating      | 6.62%                 | No            |                  2 | On Loan: No      |
| Cotiviti Corporation                                  | Cotiviti Corporation 2025 2nd Amendment Term Loan                                       | CUSIP: 22164MAF4<br>LEI: 254900YAQHVRTG4IFI64 | Long             | LON              | CORP              | US        |    199499 | PA      | $191145.74    | 0.14%             | 2032-03-26      | Floating      | 6.62%                 | No            |                  2 | On Loan: No      |
| DXP Enterprises, Inc.                                 | DXP ENTERPRISES INC 2025 REPRICED TERM LOAN B                                           | CUSIP: 23338DAS5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    230233 | PA      | $231901.75    | 0.18%             | 2030-10-11      | Floating      | 6.97%                 | No            |                  2 | On Loan: No      |
| DG Investment Intermediate Holdings 2, Inc.           | DG Investment Intermediate Holdings 2 Inc 2025 Term Loan                                | CUSIP: 23344MAM0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    223977 | PA      | $223976.74    | 0.17%             | 2032-07-09      | Floating      | 7.47%                 | No            |                  2 | On Loan: No      |
| DAYFORCE INC                                          | DAYFORCE INC 2025 TERM LOAN                                                             | CUSIP: 23923YAB7<br>LEI: 549300T64GVCHFJ8L449 | Long             | LON              | CORP              | US        |    376426 | PA      | $375082.02    | 0.28%             | 2032-08-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| DBR LAND HOLDINGS LLC                                 | DBR Land Holdings LLC                                                                   | CUSIP: 24024BAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     95000 | PA      | $97173.60     | 0.07%             | 2030-12-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Deep Blue Operating I LLC                             | Deep Blue Operating I LLC Term Loan                                                     | CUSIP: 24369TAD3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    101156 | PA      | $101387.72    | 0.08%             | 2032-10-01      | Floating      | 6.59%                 | No            |                  2 | On Loan: No      |
| Diameter Capital CLO                                  | Diameter Capital CLO 9 Ltd                                                              | CUSIP: 25254BAC9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    750000 | PA      | $754086.00    | 0.57%             | 2038-04-20      | Floating      | 8.58%                 | Yes           |                  2 | On Loan: No      |
| DISH NETWORK CORP                                     | DISH Network Corp                                                                       | CUSIP: 25470MAG4<br>LEI: 529900U350CWHH15G169 | Long             | DBT              | CORP              | US        |    250000 | PA      | $260195.00    | 0.20%             | 2027-11-15      | Fixed         | 11.75%                | Yes           |                  2 | On Loan: No      |
| Citibank NA                                           | PURCHASED USD / SOLD EUR                                                                | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |         1 | NC      | $77528.20     | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Citibank NA                                           | PURCHASED USD / SOLD CAD                                                                | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |         1 | NC      | $-112.63      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Citibank NA                                           | PURCHASED USD / SOLD GBP                                                                | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |         1 | NC      | $-27744.56    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Bank of America NA                                    | PURCHASED USD / SOLD NOK                                                                | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              |  | US        |         1 | NC      | $-1261.58     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Canadian Imperial Bank of Commerce                    | PURCHASED EUR / SOLD USD                                                                | CUSIP: 000000000<br>LEI: 2IGI19DL77OX0HC3ZE78 | N/A              | DFE              |  | XX        |         1 | NC      | $8037.61      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Canadian Imperial Bank of Commerce                    | PURCHASED EUR / SOLD USD                                                                | CUSIP: 000000000<br>LEI: 2IGI19DL77OX0HC3ZE78 | N/A              | DFE              |  | XX        |         1 | NC      | $6392.91      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Canadian Imperial Bank of Commerce                    | PURCHASED USD / SOLD EUR                                                                | CUSIP: 000000000<br>LEI: 2IGI19DL77OX0HC3ZE78 | N/A              | DFE              |  | US        |         1 | NC      | $15.68        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                     | PURCHASED USD / SOLD EUR                                                                | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |         1 | NC      | $59.43        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| EMRLD Borrower LP                                     | EMRLD Borrower LP Term Loan B                                                           | CUSIP: 26872NAC3<br>LEI: 5493000GJYE7GAQCUC61 | Long             | LON              | CORP              | US        |    241928 | PA      | $242399.57    | 0.18%             | 2030-05-31      | Floating      | 6.07%                 | No            |                  2 | On Loan: No      |
| EMRLD BOR / EMRLD CO-ISS                              | EMRLD Borrower LP / Emerald Co-Issuer Inc                                               | CUSIP: 26873CAB8<br>LEI: 98450099EE3A0ZD5F786 | Long             | DBT              | CORP              | US        |    200000 | PA      | $210802.40    | 0.16%             | 2031-07-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ECHOSTAR CORP                                         | EchoStar Corp                                                                           | CUSIP: 278768AA4<br>LEI: 549300EE20907QZ9GT38 | Long             | DBT              | CORP              | US        |    155568 | PA      | $159374.53    | 0.12%             | 2030-11-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ECHOSTAR CORP                                         | EchoStar Corp                                                                           | CUSIP: 278768AC0<br>LEI: 549300EE20907QZ9GT38 | Long             | DBT              | CORP              | US        |    250000 | PA      | $276450.30    | 0.21%             | 2029-11-30      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| Edelman Financial Center LLC                          | Edelman Financial Center LLC 2024 2nd Lien Term Loan                                    | CUSIP: 27943TAC3<br>LEI: 549300Z31KZXNP05U733 | Long             | LON              | CORP              | US        |    300000 | PA      | $299001.00    | 0.23%             | 2028-10-06      | Floating      | 8.97%                 | No            |                  2 | On Loan: No      |
| EDISON INTERNATIONAL                                  | Edison International                                                                    | CUSIP: 281020AX5<br>LEI: 549300I7ROF15MAEVP56 | Long             | DBT              | CORP              | US        |    188000 | PA      | $195617.96    | 0.15%             | 2053-06-15      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| Electron BidCo Inc                                    | Electron BidCo Inc 2021 Term Loan                                                       | CUSIP: 28542CAC3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    246231 | PA      | $247363.58    | 0.19%             | 2028-11-01      | Floating      | 6.22%                 | No            |                  2 | On Loan: No      |
| Elmwood CLO 39 Ltd                                    | Elmwood CLO 39 Ltd                                                                      | CUSIP: 289911AA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    750000 | PA      | $743956.50    | 0.56%             | 2038-04-17      | Floating      | 8.28%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                                          | Enbridge Inc                                                                            | CUSIP: 29250NBS3<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    551000 | PA      | $589587.08    | 0.45%             | 2084-01-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| ENCORE CAPITAL GROUP INC                              | Encore Capital Group Inc                                                                | CUSIP: 292554AS1<br>LEI: 5493000UVC6H49CIH830 | Long             | DBT              | CORP              | US        |    200000 | PA      | $200998.62    | 0.15%             | 2031-04-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| ENERGIZER HOLDINGS INC                                | Energizer Holdings Inc                                                                  | CUSIP: 29272WAD1<br>LEI: 5493000D6NN0V57UME20 | Long             | DBT              | CORP              | US        |    400000 | PA      | $382202.26    | 0.29%             | 2029-03-31      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| ENERGIZER HOLDINGS INC                                | Energizer Holdings Inc                                                                  | CUSIP: 29272WAG4<br>LEI: 5493000D6NN0V57UME20 | Long             | DBT              | CORP              | US        |    150000 | PA      | $143880.66    | 0.11%             | 2033-09-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ENPRO INC                                             | Enpro Inc                                                                               | CUSIP: 29355XAH0<br>LEI: 549300Y5CFT2LKCFDN54 | Long             | DBT              | CORP              | US        |    200000 | PA      | $206379.20    | 0.16%             | 2033-06-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| Ensemble RCM LLC                                      | Ensemble RCM LLC 2024 Term Loan B                                                       | CUSIP: 29359BAE1<br>LEI: 254900PDXJVVI20WAQ37 | Long             | LON              | CORP              | US        |    128559 | PA      | $129115.30    | 0.10%             | 2029-08-01      | Floating      | 6.84%                 | No            |                  2 | On Loan: No      |
| Franklin Square Holdings LP                           | Franklin Square Holdings LP 2024 Term Loan B                                            | CUSIP: 30259HAG2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    225278 | PA      | $218519.40    | 0.17%             | 2031-04-25      | Floating      | 5.97%                 | Yes           |                  2 | On Loan: No      |
| Fluid-Flow Products, Inc.                             | Fluid-Flow Products Inc 2025 Term Loan B                                                | CUSIP: 30260UAK1<br>LEI: 254900BHD5AK9H7EKF91 | Long             | LON              | CORP              | US        |    294637 | PA      | $295603.90    | 0.22%             | 2028-03-31      | Floating      | 6.97%                 | No            |                  2 | On Loan: No      |
| MedAssets Software Intermediate Holdings Inc          | MedAssets Software Intermediate Holdings Inc 2024 Term Loan A                           | CUSIP: 31810YAB6<br>LEI: 25490077VXHBSKJ52J14 | Long             | LON              | CORP              | US        |     36030 | PA      | $33147.40     | 0.03%             | 2028-12-15      | Floating      | 8.94%                 | No            |                  2 | On Loan: No      |
| MedAssets Software Intermediate Holdings Inc          | MedAssets Software Intermediate Holdings Inc 2024 First Out Term Loan                   | CUSIP: 31810YAC4<br>LEI: 25490077VXHBSKJ52J14 | Long             | LON              | CORP              | US        |    471518 | PA      | $423630.71    | 0.32%             | 2028-12-15      | Floating      | 7.69%                 | No            |                  2 | On Loan: No      |
| MedAssets Software Intermediate Holdings Inc          | MedAssets Software Intermediate Holdings Inc 2024 Second Out Term Loan                  | CUSIP: 31810YAD2<br>LEI: 25490077VXHBSKJ52J14 | Long             | LON              | CORP              | US        |    702998 | PA      | $476815.29    | 0.36%             | 2028-12-15      | Floating      | 7.84%                 | No            |                  2 | On Loan: No      |
| MedAssets Software Intermediate Holdings Inc          | MedAssets Software Intermediate Holdings Inc 2024 Third Out Term Loan                   | CUSIP: 31810YAE0<br>LEI: 25490077VXHBSKJ52J14 | Long             | LON              | CORP              | US        |     27740 | PA      | $15904.02     | 0.01%             | 2029-12-17      | Floating      | 10.59%                | No            |                  2 | On Loan: No      |
| First Student Bidco Inc                               | First Student Bidco Inc 2025 Term Loan B                                                | CUSIP: 33718FAN0<br>LEI: 2549006DRO2F06AA1391 | Long             | LON              | CORP              | US        |    237127 | PA      | $237779.30    | 0.18%             | 2030-08-15      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| First Student Bidco Inc                               | First Student Bidco Inc 2025 Term Loan C                                                | CUSIP: 33718FAP5<br>LEI: 2549006DRO2F06AA1391 | Long             | LON              | CORP              | US        |     43388 | PA      | $43478.62     | 0.03%             | 2030-08-15      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| Five Star Intermediate Holding LLC                    | Five Star Intermediate Holding LLC Term Loan                                            | CUSIP: 33835TAB4<br>LEI: 254900USK2F26ED28A72 | Long             | LON              | CORP              | US        |    221520 | PA      | $220190.75    | 0.17%             | 2029-05-05      | Floating      | 7.99%                 | No            |                  2 | On Loan: No      |
| FLUTTER TREASURY DAC                                  | Flutter Treasury DAC                                                                    | CUSIP: 344045AB5<br>LEI: 635400JE8VLL9UFVIC38 | Long             | DBT              | CORP              | IE        |    200000 | PA      | $202780.00    | 0.15%             | 2031-06-04      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Flynn Restaurant Group LP                             | Flynn Restaurant Group LP 2025 Incremental Term Loan                                    | CUSIP: 34410JAG6<br>LEI: 5493008VE8TQONGO3817 | Long             | LON              | CORP              | US        |    259692 | PA      | $260543.50    | 0.20%             | 2032-01-28      | Floating      | 7.47%                 | No            |                  2 | On Loan: No      |
| FOCUS FINANCIAL PARTNERS                              | Focus Financial Partners LLC                                                            | CUSIP: 34417VAA5<br>LEI: 5493007L0E0VKRC2CP39 | Long             | DBT              | CORP              | US        |    186000 | PA      | $191230.06    | 0.14%             | 2031-09-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Freeport LNG Investments LLLP                         | Freeport LNG Investments LLLP 2025 Term Loan B                                          | CUSIP: 35670CAC2<br>LEI: 549300LR5YVRZH4YPQ33 | Long             | LON              | CORP              | US        |    228129 | PA      | $228795.48    | 0.17%             | 2028-12-21      | Floating      | 7.12%                 | No            |                  2 | On Loan: No      |
| FULL HOUSE RESORTS INC                                | Full House Resorts Inc                                                                  | CUSIP: 359678AC3<br>LEI: 5493009DKIWW0H901Y82 | Long             | DBT              | CORP              | US        |    450000 | PA      | $390937.50    | 0.30%             | 2028-02-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: —       |
| GFL ENVIRONMENTAL INC                                 | GFL Environmental Inc                                                                   | CUSIP: 36168QAQ7<br>LEI: 894500E7NLBY9VZRT696 | Long             | DBT              | CORP              | CA        |    200000 | PA      | $209834.40    | 0.16%             | 2031-01-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| GGAM FINANCE LTD                                      | GGAM Finance Ltd                                                                        | CUSIP: 36170JAC0<br>LEI: 254900X2QXEN0FVXRF65 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $204544.00    | 0.16%             | 2027-02-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| GGAM FINANCE LTD                                      | GGAM Finance Ltd                                                                        | CUSIP: 36170JAE6<br>LEI: 254900X2QXEN0FVXRF65 | Long             | DBT              | CORP              | KY        |    221000 | PA      | $224268.59    | 0.17%             | 2030-03-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Skopima Merger Sub Inc                                | Skopima Merger Sub Inc 2024 Repriced Term Loan                                          | CUSIP: 36171NAG1<br>LEI: 254900K3R60UMIODZD21 | Long             | LON              | CORP              | US        |    225416 | PA      | $205011.65    | 0.16%             | 2028-05-12      | Floating      | 7.47%                 | No            |                  2 | On Loan: No      |
| GFL Environmental Inc                                 | GFL Environmental Inc 2025 Term Loan B                                                  | CUSIP: 36257SAB8<br>LEI: 254900PGDQWC19PRP053 | Long             | LON              | CORP              | US        |    257885 | PA      | $258658.87    | 0.20%             | 2032-03-03      | Floating      | 6.27%                 | No            |                  2 | On Loan: No      |
| BOOST NEWCO BORROWER LLC                              | Boost Newco Borrower LLC                                                                | CUSIP: 36268NAA8<br>LEI: 254900S8RE1OL7TTCU64 | Long             | DBT              | CORP              | US        |    200000 | PA      | $212570.00    | 0.16%             | 2031-01-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| GENESIS ENERGY LP/FIN                                 | Genesis Energy LP / Genesis Energy Finance Corp                                         | CUSIP: 37185LAR3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $259525.50    | 0.20%             | 2033-05-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| GLOBAL PART/GLP FINANCE                               | Global Partners LP / GLP Finance Corp                                                   | CUSIP: 37954FAK0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    142000 | PA      | $149565.19    | 0.11%             | 2032-01-15      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| GLOBAL PART/GLP FINANCE                               | Global Partners LP / GLP Finance Corp                                                   | CUSIP: 37954FAL8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     35000 | PA      | $35638.51     | 0.03%             | 2033-07-01      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| GLOBAL INFRASTRUCTURE SO                              | Global Infrastructure Solutions Inc                                                     | CUSIP: 37960XAA5<br>LEI: 2549003BGLQITAJ6ZT28 | Long             | DBT              | CORP              | US        |    200000 | PA      | $199999.60    | 0.15%             | 2029-06-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Barnes Group Inc                                      | Barnes Group Inc 2025 Term Loan B                                                       | CUSIP: 38021CAC2<br>LEI: G1MSYD2DQZX30V5DMX12 | Long             | LON              | CORP              | US        |    184360 | PA      | $184667.93    | 0.14%             | 2032-01-27      | Floating      | 6.47%                 | No            |                  2 | On Loan: No      |
| GOAT HOLDCO LLC                                       | Goat Holdco LLC                                                                         | CUSIP: 38021MAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     18000 | PA      | $18487.17     | 0.01%             | 2032-02-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| GRAHAM HOLDINGS CO                                    | Graham Holdings Co                                                                      | CUSIP: 384637AC8<br>LEI: 529900BOSCEEEMAFQJ29 | Long             | DBT              | CORP              | US        |    127000 | PA      | $128221.49    | 0.10%             | 2033-12-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Graham Packaging Company Inc                          | Graham Packaging Company Inc 2024 Term Loan B                                           | CUSIP: 38469EAE3<br>LEI: 549300YS0ZFT826HIK72 | Long             | LON              | CORP              | US        |    215952 | PA      | $216654.11    | 0.16%             | 2027-08-04      | Floating      | 6.22%                 | No            |                  2 | On Loan: No      |
| GRAHAM PACKAGING/GPC CAP                              | Graham Packaging Co Inc                                                                 | CUSIP: 384701AA6<br>LEI: 549300YS0ZFT826HIK72 | Long             | DBT              | CORP              | US        |     40000 | PA      | $40034.12     | 0.03%             | 2028-08-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| Genesys Cloud Services Holdings II LLC                | Genesys Cloud Services Holdings II LLC 2025 USD Term Loan B                             | CUSIP: 39479UAY9<br>LEI: 254900CRMBG6WX4HX396 | Long             | LON              | CORP              | US        |    308949 | PA      | $307985.50    | 0.23%             | 2032-01-30      | Floating      | 6.22%                 | No            |                  2 | On Loan: No      |
| Grifols SA                                            | Grifols SA EUR 2019 Term Loan B                                                         | CUSIP: 39843PAH6<br>LEI: 959800HSSNXWRKBK4N60 | Long             | LON              | CORP              | ES        |    680836 | PA      | $800470.20    | 0.61%             | 2027-11-15      | Floating      | 4.32%                 | No            |                  2 | On Loan: No      |
| Grinding Media Inc.                                   | Grinding Media Inc 2024 Term Loan B                                                     | CUSIP: 39854KAC4<br>LEI: 254900IYFJ03EGFQ8C34 | Long             | LON              | CORP              | US        |    188677 | PA      | $188676.66    | 0.14%             | 2028-10-12      | Floating      | 7.34%                 | No            |                  2 | On Loan: No      |
| GRUBHUB HOLDINGS INC                                  | GrubHub Holdings Inc                                                                    | CUSIP: 40010PAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     84197 | PA      | $68536.89     | 0.05%             | 2030-07-31      | Fixed         | 13.00%                | No            |                  2 | On Loan: —       |
| Gryphon Acquire Newco, LLC                            | Gryphon Acquire Newco LLC Term Loan B                                                   | CUSIP: 40054QAB9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    136719 | PA      | $137588.28    | 0.10%             | 2032-09-13      | Floating      | 6.85%                 | No            |                  2 | On Loan: No      |
| HLF FIN SARL LLC/HERBALI                              | HLF Financing Sarl LLC / Herbalife International Inc                                    | CUSIP: 40390DAD7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $215948.20    | 0.16%             | 2029-04-15      | Fixed         | 12.25%                | Yes           |                  2 | On Loan: No      |
| Harbor Freight Tools USA Inc                          | Harbor Freight Tools USA Inc 2024 Term Loan B                                           | CUSIP: 41151PAR6<br>LEI: 549300Y48HLCFTTB4249 | Long             | LON              | CORP              | US        |    211905 | PA      | $209635.56    | 0.16%             | 2031-06-11      | Floating      | 5.97%                 | No            |                  2 | On Loan: No      |
| HAT HOLDINGS I LLC/HAT                                | HAT Holdings I LLC / HAT Holdings II LLC                                                | CUSIP: 418751AL7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $207594.71    | 0.16%             | 2027-06-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Heartland Dental LLC                                  | Heartland Dental LLC 2025 Term Loan                                                     | CUSIP: 42236WAX5<br>LEI: 5493008FRC0GRKBN1075 | Long             | LON              | CORP              | US        |    197249 | PA      | $197921.36    | 0.15%             | 2032-08-25      | Floating      | 7.47%                 | No            |                  2 | On Loan: No      |
| HERBALIFE LTD                                         | Herbalife Ltd                                                                           | CUSIP: 42703MAF0<br>LEI: 549300BA7TYPBSZZIA41 | Long             | DBT              | CORP              | KY        |    727000 | PA      | $782979.00    | 0.59%             | 2028-06-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Highline Aftermarket Acquisition, LLC                 | Highline Aftermarket Acquisition LLC 2025 Term Loan B                                   | CUSIP: 43110HAF6<br>LEI: 254900Q5W6G5KG3GHJ04 | Long             | LON              | CORP              | US        |    198496 | PA      | $199365.66    | 0.15%             | 2030-02-19      | Floating      | 7.32%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                              | Hilcorp Energy I LP / Hilcorp Finance Co                                                | CUSIP: 431318AY0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $194340.82    | 0.15%             | 2030-04-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| HILTON DOMESTIC OPERATIN                              | Hilton Domestic Operating Co Inc                                                        | CUSIP: 432833AS0<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |    185000 | PA      | $189331.78    | 0.14%             | 2033-09-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| SERVICE PROPERTIES TRUST                              | Service Properties Trust                                                                | CUSIP: 44106MAW2<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              |  | US        |    225000 | PA      | $225964.76    | 0.17%             | 2027-02-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| HUB International Limited                             | HUB International Limited 2025 Term Loan B                                              | CUSIP: 44332EAZ9<br>LEI: 549300JQT6ATTUNS5E06 | Long             | LON              | CORP              | US        |       407 | PA      | $409.09       | 0.00%             | 2030-06-20      | Floating      | 6.12%                 | No            |                  2 | On Loan: No      |
| Hyperion Materials & Technologies Inc                 | Hyperion Materials & Technologies Inc 2021 Term Loan B                                  | CUSIP: 44915KAG2<br>LEI: 254900G04G2BDNO0XY89 | Long             | LON              | CORP              | US        |    363128 | PA      | $317130.56    | 0.24%             | 2028-08-30      | Floating      | 8.58%                 | No            |                  2 | On Loan: No      |
| CPC Acquisition Corp                                  | CPC Acquisition Corp Second Lien Term Loan                                              | CUSIP: 44931VAH6<br>LEI: 254900UFA4AMH3PZZW32 | Long             | LON              | CORP              | US        |    350000 | PA      | $112875.00    | 0.09%             | 2028-12-29      | Floating      | 11.68%                | No            |                  2 | On Loan: No      |
| IRB HOLDING CORP                                      | IRB Holding Corp 2025 Term Loan B                                                       | CUSIP: 44988LAM9<br>LEI: 549300HVW4WNWYBXN830 | Long             | LON              | CORP              | US        |    490417 | PA      | $491358.54    | 0.37%             | 2030-12-16      | Floating      | 6.22%                 | No            |                  2 | On Loan: No      |
| ITT HOLDINGS LLC                                      | ITT Holdings LLC                                                                        | CUSIP: 45074JAA2<br>LEI: 549300TH2PHOLK31LB42 | Long             | DBT              | CORP              | US        |    400000 | PA      | $383860.60    | 0.29%             | 2029-08-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| ICAHN ENTERPRISES/FIN                                 | Icahn Enterprises LP / Icahn Enterprises Finance Corp                                   | CUSIP: 451102BZ9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $147938.28    | 0.11%             | 2027-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MH Sub I LLC                                          | MH Sub I LLC 2024 Term Loan B4                                                          | CUSIP: 45567YAP0<br>LEI: 2549005VFKP807SR8N49 | Long             | LON              | CORP              | US        |     88281 | PA      | $75300.87     | 0.06%             | 2031-12-31      | Floating      | 7.97%                 | No            |                  2 | On Loan: No      |
| NIELSEN CONSUMER INC                                  | Nielsen Consumer Inc 2025 USD Term Loan                                                 | CUSIP: 45674PAR5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    207293 | PA      | $207336.17    | 0.16%             | 2028-03-06      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| INVERSION ESCROW ISSUER                               | Inversion Escrow Issuer LLC                                                             | CUSIP: 46150DAA0<br>LEI: 254900P6GHORGRVLKI95 | Long             | DBT              | CORP              | US        |    300000 | PA      | $298840.95    | 0.23%             | 2032-08-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ION PLATFORM FINANCE US                               | ION Platform Finance US Inc                                                             | CUSIP: 46205QAB4<br>LEI: 213800FKHT3BRRKMCC89 | Long             | DBT              | CORP              | US        |    250000 | PA      | $237214.33    | 0.18%             | 2032-09-30      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                                     | Iron Mountain Inc                                                                       | CUSIP: 46284VAG6<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              |  | US        |    300000 | PA      | $299617.65    | 0.23%             | 2028-07-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Ivanti Software Inc                                   | Ivanti Software Inc 2025 1st Lien Term Loan                                             | CUSIP: 46583DAH2<br>LEI: 254900GHAXAYKWDX9F60 | Long             | LON              | CORP              | US        |    856951 | PA      | $711269.45    | 0.54%             | 2029-06-01      | Floating      | 8.64%                 | Yes           |                  2 | On Loan: No      |
| Ivanti Software Inc                                   | Ivanti Software Inc 2025 Newco Term Loan                                                | CUSIP: 46583VAB5<br>LEI: 254900GHAXAYKWDX9F60 | Long             | LON              | CORP              | US        |     92294 | PA      | $95217.34     | 0.07%             | 2029-06-01      | Floating      | 9.64%                 | Yes           |                  2 | On Loan: No      |
| JBS USA HOLD/FOOD/LUX CO                              | JBS USA Holding Lux Sarl/ JBS USA Food Co/ JBS Lux Co Sarl                              | CUSIP: 46590XAM8<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    150000 | PA      | $142441.90    | 0.11%             | 2031-12-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| JH NORTH AMERICA HOLDING                              | JH North America Holdings Inc                                                           | CUSIP: 46593WAA3<br>LEI: 254900A6FXA0D81TL967 | Long             | DBT              | CORP              | US        |     35000 | PA      | $35725.38     | 0.03%             | 2031-01-31      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| JH NORTH AMERICA HOLDING                              | JH North America Holdings Inc                                                           | CUSIP: 46593WAB1<br>LEI: 254900A6FXA0D81TL967 | Long             | DBT              | CORP              | US        |     36000 | PA      | $36956.05     | 0.03%             | 2032-07-31      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| JB POINDEXTER & CO INC                                | JB Poindexter & Co Inc                                                                  | CUSIP: 465965AC5<br>LEI: 549300W6P81HOZZGPQ16 | Long             | DBT              | CORP              | US        |    103000 | PA      | $107890.04    | 0.08%             | 2031-12-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| J&J Ventures Gaming, LLC                              | J&J Ventures Gaming LLC 2025 Repriced Term Loan B                                       | CUSIP: 46604BAH1<br>LEI: 549300BYPH8FLKS5ZS70 | Long             | LON              | CORP              | US        |    149248 | PA      | $148012.35    | 0.11%             | 2030-04-26      | Floating      | 7.22%                 | No            |                  2 | On Loan: No      |
| JACOBS ENTERTAINMENT INC                              | Jacobs Entertainment Inc                                                                | CUSIP: 469815AK0<br>LEI: 5493004U9JIWY3HSUO63 | Long             | DBT              | CORP              | US        |    200000 | PA      | $195970.00    | 0.15%             | 2029-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| JEFFERSON CAPITAL HOLDIN                              | Jefferson Capital Holdings LLC                                                          | CUSIP: 472481AB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $157527.45    | 0.12%             | 2029-02-15      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| JEFFERSON CAPITAL HOLDIN                              | Jefferson Capital Holdings LLC                                                          | CUSIP: 472481AC4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    226000 | PA      | $237685.78    | 0.18%             | 2030-05-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| JETBLUE AIRWAYS/LOYALTY                               | JetBlue Airways Corp / JetBlue Loyalty LP                                               | CUSIP: 476920AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    150000 | PA      | $151119.18    | 0.11%             | 2031-09-20      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| Johnstone Supply LLC                                  | Johnstone Supply LLC Term Loan B                                                        | CUSIP: 47947BAF9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    275581 | PA      | $276920.75    | 0.21%             | 2031-06-09      | Floating      | 6.23%                 | No            |                  2 | On Loan: No      |
| Journey Personal Care Corp                            | Journey Personal Care Corp 2024 Term Loan B                                             | CUSIP: 48114NAF8<br>LEI: 5493000G9KGROJ41TP46 | Long             | LON              | CORP              | US        |    149621 | PA      | $148873.07    | 0.11%             | 2028-03-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| K HOVNANIAN ENTERPRISES                               | K Hovnanian Enterprises Inc                                                             | CUSIP: 48251UAP3<br>LEI: 549300JJCQ0KAI7CJG32 | Long             | DBT              | CORP              | US        |     50000 | PA      | $51028.35     | 0.04%             | 2031-04-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| K HOVNANIAN ENTERPRISES                               | K Hovnanian Enterprises Inc                                                             | CUSIP: 48251UAQ1<br>LEI: 549300JJCQ0KAI7CJG32 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50814.47     | 0.04%             | 2033-10-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| LSF12 Crown US Commercial Bidco LLC                   | LSF12 Crown US Commercial Bidco LLC 2025 Term Loan B                                    | CUSIP: 50221UAD3<br>LEI: 254900FI2OCFTJ9PAJ18 | Long             | LON              | CORP              | US        |    185725 | PA      | $186711.07    | 0.14%             | 2031-12-02      | Floating      | 7.37%                 | No            |                  2 | On Loan: No      |
| LBM ACQUISITION LLC                                   | LBM Acquisition LLC                                                                     | CUSIP: 52109SAB5<br>LEI: 549300FAEB3VWZL4NI86 | Long             | DBT              | CORP              | US        |    200000 | PA      | $208488.00    | 0.16%             | 2031-06-15      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                                 | Level 3 Financing Inc                                                                   | CUSIP: 527298CN1<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    197000 | PA      | $203022.68    | 0.15%             | 2034-03-31      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Level 3 Financing Inc                                 | Level 3 Financing Inc 2025 Repriced Term Loan B4                                        | CUSIP: 52729KAU0<br>LEI: 254900AE5FEFIJOXWL19 | Long             | LON              | CORP              | US        |    200000 | PA      | $200450.00    | 0.15%             | 2032-03-29      | Floating      | 6.97%                 | No            |                  2 | On Loan: No      |
| LIFEPOINT HEALTH INC                                  | LifePoint Health Inc                                                                    | CUSIP: 53219LAW9<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | DBT              | CORP              | US        |    250000 | PA      | $274158.73    | 0.21%             | 2030-10-15      | Fixed         | 11.00%                | Yes           |                  2 | On Loan: No      |
| LIFEPOINT HEALTH INC                                  | LifePoint Health Inc                                                                    | CUSIP: 53219LAX7<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | DBT              | CORP              | US        |    350000 | PA      | $371729.40    | 0.28%             | 2032-06-01      | Fixed         | 10.00%                | Yes           |                  2 | On Loan: —       |
| LIGHTNING POWER LLC                                   | Lightning Power LLC                                                                     | CUSIP: 53229KAA7<br>LEI: 254900BWCHJ03XRL8K59 | Long             | DBT              | CORP              | US        |    250000 | PA      | $265837.75    | 0.20%             | 2032-08-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Lightning Power LLC                                   | Lightning Power LLC Term Loan B                                                         | CUSIP: 53229LAB3<br>LEI: 254900BWCHJ03XRL8K59 | Long             | LON              | CORP              | US        |    185543 | PA      | $186318.36    | 0.14%             | 2031-08-18      | Floating      | 5.97%                 | No            |                  2 | On Loan: No      |
| Lumen Technologies Inc                                | Lumen Technologies Inc 2024 Extended Term Loan B1                                       | CUSIP: 55024EAF2<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | LON              | CORP              | US        |    148479 | PA      | $147550.61    | 0.11%             | 2029-04-16      | Floating      | 6.18%                 | No            |                  2 | On Loan: No      |
| MKS Instruments Inc                                   | MKS Instruments Inc 2025 USD Repriced Term Loan                                         | CUSIP: 55314NAZ7<br>LEI: 549300KEQATBHAGVF505 | Long             | LON              | CORP              | US        |    140492 | PA      | $140989.15    | 0.11%             | 2029-08-17      | Floating      | 5.72%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                              | Madison Park Funding XIII Ltd                                                           | CUSIP: 55818NAE5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $8239.00      | 0.01%             | 2030-04-19      | Variable      | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Madison Safety & Flow LLC                             | Madison Safety & Flow LLC 2025 1st Lien Term Loan B                                     | CUSIP: 55822DAN1<br>LEI: 5493007D2J7BBIFYBY65 | Long             | LON              | CORP              | US        |    208226 | PA      | $209483.99    | 0.16%             | 2031-09-26      | Floating      | 6.23%                 | No            |                  2 | On Loan: No      |
| Magnetite CLO Ltd                                     | Magnetite VII Ltd                                                                       | CUSIP: 55952XAC3<br>LEI: 549300B54XJTQC6DWJ15 | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $93254.00     | 0.07%             | 2028-01-15      | Variable      | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Red Planet Borrower LLC                               | Red Planet Borrower LLC 2025 Term Loan B                                                | CUSIP: 57165KAE6<br>LEI: 254900LGTHBRY5NA0C90 | Long             | LON              | CORP              | US        |    700000 | PA      | $700658.00    | 0.53%             | 2032-09-08      | Floating      | 7.72%                 | No            |                  2 | On Loan: No      |
| MAUSER PACKAGING SOLUT                                | Mauser Packaging Solutions Holding Co                                                   | CUSIP: 57763RAE7<br>LEI: 549300DNGHXL0OMHW304 | Long             | DBT              | CORP              | US        |    450000 | PA      | $446449.66    | 0.34%             | 2030-04-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| MAUSER PACKAGING SOLUT                                | Mauser Packaging Solutions Holding Co                                                   | CUSIP: 57763RAF4<br>LEI: 549300DNGHXL0OMHW304 | Long             | DBT              | CORP              | US        |    300000 | PA      | $288000.00    | 0.22%             | 2030-04-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| Mavis Tire Express Services Corp.                     | Mavis Tire Express Services Corp 2025 Repriced Term Loan                                | CUSIP: 57777YAG1<br>LEI: 254900NVDM4GTLBL9E56 | Long             | LON              | CORP              | US        |    513906 | PA      | $515551.00    | 0.39%             | 2028-05-04      | Floating      | 6.72%                 | No            |                  2 | On Loan: No      |
| MCGRAW-HILL EDUCATION                                 | McGraw-Hill Education Inc                                                               | CUSIP: 58064LAA2<br>LEI: 254900U6YJ9QZ4IQOR26 | Long             | DBT              | CORP              | US        |    215000 | PA      | $226837.26    | 0.17%             | 2031-09-01      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Medical Solutions Holdings Inc                        | Medical Solutions Holdings Inc 2021 2nd Lien Term Loan                                  | CUSIP: 58462QAM3<br>LEI: 549300JH2XHZ7TIKYR39 | Long             | LON              | CORP              | US        |    147368 | PA      | $29915.79     | 0.02%             | 2029-11-01      | Floating      | 10.94%                | Yes           |                  2 | On Loan: No      |
| Midwest Physician Administrative Services LLC         | Midwest Physician Administrative Services LLC 2021 Term Loan                            | CUSIP: 59835XAC8<br>LEI: 5493001F7B0DCPKBGK48 | Long             | LON              | CORP              | US        |    405395 | PA      | $366995.63    | 0.28%             | 2028-03-12      | Floating      | 6.93%                 | No            |                  2 | On Loan: No      |
| Gainwell Acquisition Corp                             | Gainwell Acquisition Corp Term Loan B                                                   | CUSIP: 59909TAC8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    241078 | PA      | $236437.35    | 0.18%             | 2027-10-01      | Floating      | 7.77%                 | No            |                  2 | On Loan: No      |
| Mitchell International Inc                            | Mitchell International Inc 2024 2nd Lien Term Loan                                      | CUSIP: 60662WAZ5<br>LEI: 5493002RDNIGEM7SSV41 | Long             | LON              | CORP              | US        |    197802 | PA      | $195626.37    | 0.15%             | 2032-06-17      | Floating      | 8.97%                 | No            |                  2 | On Loan: No      |
| MOLINA HEALTHCARE INC                                 | Molina Healthcare Inc                                                                   | CUSIP: 60855RAM2<br>LEI: 549300NQQCEQ46YHZ591 | Long             | DBT              | CORP              | US        |    200000 | PA      | $203892.96    | 0.15%             | 2033-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| MOLINA HEALTHCARE INC                                 | Molina Healthcare Inc                                                                   | CUSIP: 60855RAN0<br>LEI: 549300NQQCEQ46YHZ591 | Long             | DBT              | CORP              | US        |    297000 | PA      | $305027.90    | 0.23%             | 2031-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD                                   | NCL Corp Ltd                                                                            | CUSIP: 62886HBR1<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |    206000 | PA      | $210928.00    | 0.16%             | 2032-02-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| NCL CORPORATION LTD                                   | NCL Corp Ltd                                                                            | CUSIP: 62886HBS9<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |     88000 | PA      | $97955.00     | 0.07%             | 2030-04-15      | Fixed         | 0.88%                 | No            |                  2 | On Loan: No      |
| NGL ENRGY OP/FIN CORP                                 | NGL Energy Operating LLC / NGL Energy Finance Corp                                      | CUSIP: 62922LAC2<br>LEI: 5299005YSRP46BE8Z459 | Long             | DBT              | CORP              | US        |     83000 | PA      | $86151.03     | 0.07%             | 2029-02-15      | Fixed         | 8.13%                 | Yes           |                  2 | On Loan: No      |
| NGL ENRGY OP/FIN CORP                                 | NGL Energy Operating LLC / NGL Energy Finance Corp                                      | CUSIP: 62922LAD0<br>LEI: 5299005YSRP46BE8Z459 | Long             | DBT              | CORP              | US        |    247000 | PA      | $255784.56    | 0.19%             | 2032-02-15      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| NAPA Management Services Corporation                  | NAPA Management Services Corporation Term Loan B                                        | CUSIP: 63035HAC3<br>LEI: 549300C5SN85QZ48R870 | Long             | LON              | CORP              | US        |    403820 | PA      | $278256.23    | 0.21%             | 2029-02-23      | Floating      | 9.07%                 | No            |                  2 | On Loan: No      |
| Neptune Bidco US Inc                                  | Neptune Bidco US Inc 2022 USD Term Loan B                                               | CUSIP: 64069JAC6<br>LEI: 549300VG15T3VCYZ4531 | Long             | LON              | CORP              | US        |    143621 | PA      | $141861.36    | 0.11%             | 2029-04-11      | Floating      | 9.03%                 | No            |                  2 | On Loan: No      |
| CSC Holdings LLC                                      | CSC Holdings LLC 2019 Term Loan B5                                                      | CUSIP: 64072UAK8<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | LON              | CORP              | US        |    299206 | PA      | $260949.83    | 0.20%             | 2027-04-15      | Floating      | 8.25%                 | No            |                  2 | On Loan: No      |
| NESCO HOLDINGS II INC                                 | NESCO Holdings II Inc                                                                   | CUSIP: 64083YAA9<br>LEI: 254900FAHT0HW9T6L409 | Long             | DBT              | CORP              | US        |    150000 | PA      | $147758.51    | 0.11%             | 2029-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NEWELL BRANDS INC                                     | Newell Brands Inc                                                                       | CUSIP: 651229AY2<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |    100000 | PA      | $83451.45     | 0.06%             | 2046-04-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| NEWELL BRANDS INC                                     | Newell Brands Inc                                                                       | CUSIP: 651229BD7<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |    150000 | PA      | $149453.82    | 0.11%             | 2029-09-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| NEWELL BRANDS INC                                     | Newell Brands Inc                                                                       | CUSIP: 651229BE5<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |    150000 | PA      | $145524.20    | 0.11%             | 2032-05-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: —       |
| NEWELL BRANDS INC                                     | Newell Brands Inc                                                                       | CUSIP: 651229BF2<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |    190000 | PA      | $185546.71    | 0.14%             | 2030-05-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: —       |
| NEWELL BRANDS INC                                     | Newell Brands Inc                                                                       | CUSIP: 651229BG0<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |     74000 | PA      | $77592.92     | 0.06%             | 2028-06-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| NEXSTAR MEDIA INC                                     | Nexstar Media Inc                                                                       | CUSIP: 65336YAN3<br>LEI: 5493006PK6I4I2OOT688 | Long             | DBT              | CORP              | US        |     87000 | PA      | $86368.80     | 0.07%             | 2028-11-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| NORTHRIVER MIDSTREAM FIN                              | Northriver Midstream Finance LP                                                         | CUSIP: 66679NAB6<br>LEI: 549300SOLNLY3BL6GF18 | Long             | DBT              | CORP              | CA        |    200000 | PA      | $203810.70    | 0.15%             | 2032-07-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| OID-OL Intermediate I LLC                             | OID-OL Intermediate I LLC Term Loan 1                                                   | CUSIP: 67089SAB7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    139635 | PA      | $143067.62    | 0.11%             | 2029-02-01      | Floating      | 9.84%                 | No            |                  2 | On Loan: No      |
| OID-OL Intermediate I LLC                             | OID-OL Intermediate I LLC Term Loan 2                                                   | CUSIP: 67089SAD3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    691665 | PA      | $574372.58    | 0.44%             | 2029-02-01      | Floating      | 8.24%                 | No            |                  2 | On Loan: No      |
| Octagon 74 Ltd                                        | Octagon 74 Ltd                                                                          | CUSIP: 675960AA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $980638.00    | 0.74%             | 2038-04-22      | Floating      | 8.96%                 | No            |                  2 | On Loan: No      |
| OLYMPUS WTR US HLDG CORP                              | Olympus Water US Holding Corp                                                           | CUSIP: 681639AA8<br>LEI: 549300YU2GGVCBN3MY89 | Long             | DBT              | CORP              | US        |    210000 | PA      | $203850.15    | 0.15%             | 2028-10-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Olympus Water US Holding Corporation                  | Olympus Water US Holding Corporation 2025 USD Term Loan B                               | CUSIP: 68163YAK1<br>LEI: 549300YU2GGVCBN3MY89 | Long             | LON              | CORP              | US        |    115473 | PA      | $114680.14    | 0.09%             | 2032-11-03      | Floating      | 6.92%                 | No            |                  2 | On Loan: No      |
| 1011778 BC / NEW RED FIN                              | 1011778 BC ULC / New Red Finance Inc                                                    | CUSIP: 68245XAT6<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    200000 | PA      | $203637.20    | 0.15%             | 2029-09-15      | Fixed         | 5.63%                 | Yes           |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                                  | OneMain Finance Corp                                                                    | CUSIP: 682691AC4<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    400000 | PA      | $389850.48    | 0.30%             | 2028-09-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| ONESKY FLIGHT LLC                                     | OneSky Flight LLC                                                                       | CUSIP: 68278CAA3<br>LEI: 549300PM6NEPXGG5B882 | Long             | DBT              | CORP              | US        |    200000 | PA      | $214027.03    | 0.16%             | 2029-12-15      | Fixed         | 8.88%                 | Yes           |                  2 | On Loan: No      |
| ONT GAMING GTA/OTG CO-IS                              | Ontario Gaming GTA LP/OTG Co-Issuer Inc                                                 | CUSIP: 68306MAA7<br>LEI: 894500EC9KLZLOC3V025 | Long             | DBT              | CORP              | CA        |    195000 | PA      | $184897.76    | 0.14%             | 2030-08-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| FIBERCOP SPA                                          | Fibercop SpA                                                                            | CUSIP: 683879AB6<br>LEI: 8156007022402E114A31 | Long             | DBT              | CORP              | IT        |    250000 | PA      | $247734.38    | 0.19%             | 2033-11-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Orion US Finco Inc.                                   | Orion US Finco Inc 1st Lien Term Loan                                                   | CUSIP: 68631KAB5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    187874 | PA      | $188636.39    | 0.14%             | 2032-10-08      | Floating      | 7.43%                 | No            |                  2 | On Loan: No      |
| Oryx Midstream Services Permian Basin LLC             | Oryx Midstream Services Permian Basin LLC 2025 Term Loan B                              | CUSIP: 68764JAJ0<br>LEI: 254900YYHRDANYFAHC43 | Long             | LON              | CORP              | US        |    246877 | PA      | $247827.25    | 0.19%             | 2028-10-05      | Floating      | 5.98%                 | No            |                  2 | On Loan: No      |
| PG&E CORP                                             | PG&E Corp                                                                               | CUSIP: 69331CAH1<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | DBT              | CORP              | US        |    150000 | PA      | $149584.58    | 0.11%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PG&E CORP                                             | PG&E Corp                                                                               | CUSIP: 69331CAJ7<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | DBT              | CORP              | US        |    150000 | PA      | $148937.60    | 0.11%             | 2030-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PMHC II Inc                                           | PMHC II Inc 2022 Term Loan B                                                            | CUSIP: 69346EAG2<br>LEI: 549300GYZ1T3S8OPH343 | Long             | LON              | CORP              | US        |    260140 | PA      | $143222.85    | 0.11%             | 2029-04-23      | Floating      | 8.33%                 | No            |                  2 | On Loan: No      |
| PRA GROUP INC                                         | PRA Group Inc                                                                           | CUSIP: 69354NAE6<br>LEI: 549300Q5HW3JSSB86K27 | Long             | DBT              | CORP              | US        |    290000 | PA      | $296303.44    | 0.22%             | 2028-02-01      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| VIBRANTZ TECH INC                                     | Vibrantz Technologies Inc                                                               | CUSIP: 69357VAA3<br>LEI: 549300GYZ1T3S8OPH343 | Long             | DBT              | CORP              | US        |    238000 | PA      | $79027.51     | 0.06%             | 2030-02-15      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| Padagis LLC                                           | Padagis LLC Term Loan B                                                                 | CUSIP: 69526PAC8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    322807 | PA      | $304245.80    | 0.23%             | 2028-07-06      | Floating      | 8.95%                 | No            |                  2 | On Loan: No      |
| Paradigm Parent LLC                                   | Paradigm Parent LLC 1st Lien Term Loan                                                  | CUSIP: 69902BAB5<br>LEI: 254900EDT9YE5UFH3458 | Long             | LON              | CORP              | US        |    467230 | PA      | $409849.91    | 0.31%             | 2032-04-16      | Floating      | 8.17%                 | No            |                  2 | On Loan: No      |
| PARADIGM PRNT/CO-ISSUER                               | Paradigm Parent LLC and Paradigm Parent CO-Issuer Inc                                   | CUSIP: 69902PAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    139000 | PA      | $125879.79    | 0.10%             | 2032-04-17      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| PARSONS CORP                                          | Parsons Corp                                                                            | CUSIP: 70202LAD4<br>LEI: 549300ZXH0VRBSEPX752 | Long             | DBT              | CORP              | US        |    347000 | PA      | $356716.00    | 0.27%             | 2029-03-01      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| Vision Solutions Inc                                  | Vision Solutions Inc 2021 Incremental Term Loan                                         | CUSIP: 70477BAE2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    228421 | PA      | $211460.76    | 0.16%             | 2028-04-24      | Floating      | 8.10%                 | No            |                  2 | On Loan: No      |
| PERFORMANCE FOOD GROUP I                              | Performance Food Group Inc                                                              | CUSIP: 71376LAF7<br>LEI: 549300OMUOGBYK0FFO76 | Long             | DBT              | CORP              | US        |    202000 | PA      | $208243.42    | 0.16%             | 2032-09-15      | Fixed         | 6.13%                 | Yes           |                  2 | On Loan: No      |
| PERRIGO FINANCE UNLIMITE                              | Perrigo Finance Unlimited Co                                                            | CUSIP: 71429MAD7<br>LEI: 549300E86RB6YCTMRM83 | Long             | DBT              | CORP              | IE        |    250000 | PA      | $243516.73    | 0.18%             | 2032-09-30      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                                   | Petroleos Mexicanos                                                                     | CUSIP: 71643VAB1<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    647000 | PA      | $645272.65    | 0.49%             | 2032-02-16      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| PETROBRAS GLOBAL FINANCE                              | Petrobras Global Finance BV                                                             | CUSIP: 71647NBN8<br>LEI: 549300FNENFFSMO3GT38 | Long             | DBT              | CORP              | NL        |    250000 | PA      | $245295.68    | 0.19%             | 2036-01-10      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                                   | Petroleos Mexicanos                                                                     | CUSIP: 71654QDD1<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    250000 | PA      | $224049.04    | 0.17%             | 2050-01-23      | Fixed         | 7.69%                 | No            |                  2 | On Loan: No      |
| PHINIA INC                                            | Phinia Inc                                                                              | CUSIP: 71880KAB7<br>LEI: 254900HG6MORZE1FFM18 | Long             | DBT              | CORP              | US        |    297000 | PA      | $307527.14    | 0.23%             | 2032-10-15      | Fixed         | 6.63%                 | Yes           |                  2 | On Loan: No      |
| Recess Holdings Inc                                   | Recess Holdings Inc 2025 Repriced Term Loan                                             | CUSIP: 72811HAJ9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    355628 | PA      | $357573.05    | 0.27%             | 2030-02-20      | Floating      | 7.62%                 | No            |                  2 | On Loan: No      |
| Polar US Borrower LLC                                 | Polar US Borrower LLC 2024 Term Loan B1A                                                | CUSIP: 73103NAB8<br>LEI: 549300VWTN2NKZWJ5F70 | Long             | LON              | CORP              | US        |    437020 | PA      | $30045.09     | 0.02%             | 2028-10-16      | Floating      | 9.46%                 | Yes           |                  2 | On Loan: No      |
| Polar US Borrower LLC                                 | Polar US Borrower LLC 2024 Term Loan B1B                                                | CUSIP: 73103NAC6<br>LEI: 549300VWTN2NKZWJ5F70 | Long             | LON              | CORP              | US        |    300668 | PA      | $20670.92     | 0.02%             | 2028-10-16      | Floating      | 9.46%                 | Yes           |                  2 | On Loan: No      |
| POST HOLDINGS INC                                     | Post Holdings Inc                                                                       | CUSIP: 737446AR5<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |    150000 | PA      | $142207.03    | 0.11%             | 2031-09-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Pretium Packaging LLC                                 | Pretium Packaging LLC First Out Term Loan A                                             | CUSIP: 74142KAJ8<br>LEI: 254900S6SXME9YWLU075 | Long             | LON              | CORP              | US        |    353633 | PA      | $353081.35    | 0.27%             | 2028-10-02      | Floating      | 8.90%                 | No            |                  2 | On Loan: No      |
| Pretium Packaging LLC                                 | Pretium Packaging LLC Second Out Term Loan A1                                           | CUSIP: 74142KAK5<br>LEI: 254900S6SXME9YWLU075 | Long             | LON              | CORP              | US        |     78787 | PA      | $31008.25     | 0.02%             | 2028-10-02      | Floating      | 8.50%                 | No            |                  2 | On Loan: No      |
| ADT SEC CORP                                          | ADT Security Corp/The                                                                   | CUSIP: 74166NAA2<br>LEI: 5493009JEEDYLVRA0J13 | Long             | DBT              | CORP              | US        |    350000 | PA      | $339001.93    | 0.26%             | 2032-07-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Proampac PG Borrower LLC                              | Proampac PG Borrower LLC 2024 Term Loan                                                 | CUSIP: 74274NAL7<br>LEI: 549300ZI6LTXYFEY1578 | Long             | LON              | CORP              | US        |    341158 | PA      | $341345.85    | 0.26%             | 2028-09-15      | Floating      | 7.90%                 | No            |                  2 | On Loan: No      |
| PROG HOLDINGS INC                                     | PROG Holdings Inc                                                                       | CUSIP: 74319RAA9<br>LEI: 549300DHYTLBOVRXIG52 | Long             | DBT              | CORP              | US        |    250000 | PA      | $247017.50    | 0.19%             | 2029-11-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Project Ruby Ultimate Parent Corp.                    | Project Ruby Ultimate Parent Corp 2025 Term Loan B                                      | CUSIP: 74339UBA7<br>LEI: 549300UGGIEE7YT1C741 | Long             | LON              | CORP              | US        |    291800 | PA      | $292477.06    | 0.22%             | 2028-03-10      | Floating      | 6.58%                 | No            |                  2 | On Loan: No      |
| Cloudera Inc                                          | Cloudera Inc 2021 Second Lien Term Loan                                                 | CUSIP: 74339VAE8<br>LEI: 549300PGONC4JOI0RG62 | Long             | LON              | CORP              | US        |    266667 | PA      | $231136.00    | 0.18%             | 2029-10-08      | Floating      | 9.82%                 | No            |                  2 | On Loan: No      |
| QXO BUILDING PRODUCTS                                 | QXO Building Products Inc                                                               | CUSIP: 74825NAA5<br>LEI: 549300HDXQWWCBOYXP31 | Long             | DBT              | CORP              | US        |    229000 | PA      | $239171.88    | 0.18%             | 2032-04-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Quikrete Holdings Inc                                 | Quikrete Holdings Inc 2025 Term Loan B                                                  | CUSIP: 74839XAL3<br>LEI: 5493007KIN86DIZWZT22 | Long             | LON              | CORP              | US        |    141029 | PA      | $141432.48    | 0.11%             | 2032-02-10      | Floating      | 5.97%                 | No            |                  2 | On Loan: No      |
| Quikrete Holdings Inc                                 | Quikrete Holdings Inc 2025 Term Loan B1                                                 | CUSIP: 74839XAM1<br>LEI: 5493007KIN86DIZWZT22 | Long             | LON              | CORP              | US        |    171905 | PA      | $172342.96    | 0.13%             | 2031-04-14      | Floating      | 5.97%                 | No            |                  2 | On Loan: No      |
| QuidelOrtho Corp                                      | QuidelOrtho Corp Term Loan                                                              | CUSIP: 74840YAH7<br>LEI: 549300YU8CMO9HF53113 | Long             | LON              | CORP              | US        |    147076 | PA      | $146891.85    | 0.11%             | 2032-08-20      | Floating      | 7.72%                 | No            |                  2 | On Loan: No      |
| RHP HOTEL PPTY/RHP FINAN                              | RHP Hotel Properties LP / RHP Finance Corp                                              | CUSIP: 749571AL9<br>LEI: N/A                  | Long             | DBT              |  | US        |    101000 | PA      | $104993.24    | 0.08%             | 2033-06-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| RR Ltd                                                | RR 20 Ltd                                                                               | CUSIP: 74989TAJ5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | BM        |   1500000 | PA      | $1453936.50   | 1.10%             | 2037-07-15      | Floating      | 8.40%                 | No            |                  2 | On Loan: No      |
| Radiology Partners Inc                                | Radiology Partners Inc 2025 Term Loan                                                   | CUSIP: 75041EAN2<br>LEI: 549300SFTAG2177WUZ08 | Long             | LON              | CORP              | US        |    192012 | PA      | $191472.00    | 0.15%             | 2032-06-30      | Floating      | 8.17%                 | No            |                  2 | On Loan: No      |
| RADIOLOGY PARTNERS INC                                | Radiology Partners Inc                                                                  | CUSIP: 75041VAC8<br>LEI: 549300SFTAG2177WUZ08 | Long             | DBT              | CORP              | US        |    440079 | PA      | $423576.04    | 0.32%             | 2030-02-15      | Fixed         | 9.78%                 | Yes           |                  2 | On Loan: No      |
| RADIOLOGY PARTNERS INC                                | Radiology Partners Inc                                                                  | CUSIP: 75041VAE4<br>LEI: 549300SFTAG2177WUZ08 | Long             | DBT              | CORP              | US        |    277000 | PA      | $289364.59    | 0.22%             | 2032-07-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Radnet Management Inc                                 | Radnet Management Inc 2024 1st Lien Term Loan B                                         | CUSIP: 75049EAR5<br>LEI: 549300T3TJ6A0P5TXM13 | Long             | LON              | CORP              | US        |    246932 | PA      | $247610.91    | 0.19%             | 2031-04-18      | Floating      | 6.07%                 | No            |                  2 | On Loan: No      |
| Raising Cane's Restaurants, LLC                       | Raising Cane's Restaurants LLC 2024 Term Loan B                                         | CUSIP: 75101XAP2<br>LEI: 254900V6ADXFWHYOED66 | Long             | LON              | CORP              | US        |    238096 | PA      | $238453.32    | 0.18%             | 2031-09-18      | Floating      | 5.72%                 | No            |                  2 | On Loan: No      |
| Raven Acquisition Holdings LLC                        | Raven Acquisition Holdings LLC Term Loan B                                              | CUSIP: 75419XAC8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    205248 | PA      | $205824.69    | 0.16%             | 2031-11-19      | Floating      | 6.72%                 | No            |                  2 | On Loan: No      |
| Raven Acquisition Holdings LLC                        | Raven Acquisition Holdings LLC Delayed Draw Term Loan                                   | CUSIP: 75419XAD6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     14734 | PA      | $14775.64     | 0.01%             | 2031-11-19      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| RAVEN ACQUISITION HOLDIN                              | Raven Acquisition Holdings LLC                                                          | CUSIP: 75420NAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    205000 | PA      | $211219.91    | 0.16%             | 2031-11-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| LifePoint Health Inc                                  | LifePoint Health Inc 2024 1st Lien Term Loan B                                          | CUSIP: 75915TAK8<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | LON              | CORP              | US        |    578781 | PA      | $580378.91    | 0.44%             | 2031-05-19      | Floating      | 7.65%                 | Yes           |                  2 | On Loan: No      |
| Renaissance Holding Corp.                             | Renaissance Holding Corp 2024 1st Lien Term Loan                                        | CUSIP: 75972JAK0<br>LEI: 549300UKKEC0Y6TXNF09 | Long             | LON              | CORP              | US        |    195215 | PA      | $170036.35    | 0.13%             | 2030-04-05      | Floating      | 7.72%                 | No            |                  2 | On Loan: No      |
| UPBOUND GROUP INC                                     | Upbound Group Inc                                                                       | CUSIP: 76009NAL4<br>LEI: 529900QUHE15UQNCCJ63 | Long             | DBT              | CORP              | US        |    134000 | PA      | $131991.11    | 0.10%             | 2029-02-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Upbound Group Inc                                     | Upbound Group Inc 2025 Term Loan B                                                      | CUSIP: 76009WAX8<br>LEI: 529900QUHE15UQNCCJ63 | Long             | LON              | CORP              | US        |    125543 | PA      | $126171.19    | 0.10%             | 2032-08-13      | Floating      | 6.63%                 | No            |                  2 | On Loan: No      |
| RESIDEO FUNDING INC                                   | Resideo Funding Inc                                                                     | CUSIP: 76119LAD3<br>LEI: 5493000IFJ6XJKH66598 | Long             | DBT              | CORP              | US        |    200000 | PA      | $204706.60    | 0.16%             | 2032-07-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Ring Container Technologies Group, LLC                | Ring Container Technologies Group LLC 2025 Term Loan B                                  | CUSIP: 76680YAJ1<br>LEI: 254900MFUG4RPN6Y4A98 | Long             | LON              | CORP              | US        |    198000 | PA      | $198449.46    | 0.15%             | 2032-09-15      | Floating      | 6.22%                 | No            |                  2 | On Loan: No      |
| RIVERS ENTERPRISE                                     | Rivers Enterprise Lender LLC / Rivers Enterprise Lender Corp                            | CUSIP: 76884GAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    134000 | PA      | $136777.69    | 0.10%             | 2030-10-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| ROCKET COS INC                                        | Rocket Cos Inc                                                                          | CUSIP: 77311WAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    115000 | PA      | $118873.10    | 0.09%             | 2030-08-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| ROCKET COS INC                                        | Rocket Cos Inc                                                                          | CUSIP: 77311WAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    115000 | PA      | $119901.19    | 0.09%             | 2033-08-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                               | Royal Caribbean Cruises Ltd                                                             | CUSIP: 780153BJ0<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |    300000 | PA      | $300462.35    | 0.23%             | 2026-08-31      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| SABRE GLBL INC                                        | Sabre GLBL Inc                                                                          | CUSIP: 78573NAK8<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | DBT              | CORP              | US        |    200000 | PA      | $201100.00    | 0.15%             | 2026-08-01      | Fixed         | 7.32%                 | No            |                  2 | On Loan: No      |
| SABRE GLBL INC                                        | Sabre GLBL Inc                                                                          | CUSIP: 78573NAL6<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | DBT              | CORP              | US        |     24000 | PA      | $20407.87     | 0.02%             | 2029-11-15      | Fixed         | 10.75%                | Yes           |                  2 | On Loan: No      |
| SABRE GLBL INC                                        | Sabre GLBL Inc                                                                          | CUSIP: 78573NAN2<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | DBT              | CORP              | US        |     30000 | PA      | $24669.91     | 0.02%             | 2030-03-15      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| SABRE FINANCIAL BORROWER                              | Sabre Financial Borrower LLC                                                            | CUSIP: 78573XAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    167000 | PA      | $169227.39    | 0.13%             | 2029-06-15      | Fixed         | 11.13%                | No            |                  2 | On Loan: No      |
| Sazerac Company Inc                                   | Sazerac Company Inc Term Loan B                                                         | CUSIP: 80583EAN6<br>LEI: 9QU0CG1O4LSOB6IFK895 | Long             | LON              | CORP              | US        |    224349 | PA      | $224566.27    | 0.17%             | 2032-07-09      | Floating      | 6.50%                 | No            |                  2 | On Loan: No      |
| Scientific Games Holdings LP                          | Scientific Games Holdings LP 2024 USD Term Loan B                                       | CUSIP: 80875CAE7<br>LEI: 549300W5GPFXXB6TQ330 | Long             | LON              | CORP              | US        |    246379 | PA      | $241729.61    | 0.18%             | 2029-04-04      | Floating      | 6.93%                 | No            |                  2 | On Loan: No      |
| SEASPAN CORP                                          | Seaspan Corp                                                                            | CUSIP: 81254UAK2<br>LEI: 5493007Z8Q1H45KT7W98 | Long             | DBT              | CORP              | MH        |    200000 | PA      | $189928.49    | 0.14%             | 2029-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Sedgwick Claims Management Services Inc               | Sedgwick Claims Management Services Inc 2023 Term Loan B                                | CUSIP: 81527CAP2<br>LEI: 549300BIN4DWJG5VWF64 | Long             | LON              | CORP              | US        |    216001 | PA      | $216631.60    | 0.16%             | 2031-07-31      | Floating      | 6.22%                 | No            |                  2 | On Loan: No      |
| SERVICE PROPERTIES TRUST                              | Service Properties Trust                                                                | CUSIP: 81761LAE2<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              |  | US        |    150000 | PA      | $147967.93    | 0.11%             | 2032-06-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| SERVICE PROPERTIES TRUST                              | Service Properties Trust                                                                | CUSIP: 81761LAF9<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              |  | US        |    254000 | PA      | $229528.67    | 0.17%             | 2027-09-30      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Foundever Worldwide Corporation                       | Foundever Worldwide Corporation 2021 USD Term Loan                                      | CUSIP: 82981MAC6<br>LEI: 5493007DS8CM3ZGION43 | Long             | LON              | CORP              | US        |    150038 | PA      | $58514.89     | 0.04%             | 2028-08-28      | Floating      | 7.68%                 | No            |                  2 | On Loan: No      |
| SIX FLAGS ENT/SIX FLAG                                | Six Flags Entertainment Corp /Six Flags Theme Parks Inc/ Canada's Wonderland Co         | CUSIP: 83002YAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $302524.18    | 0.23%             | 2032-05-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Spin Holdco Inc                                       | Spin Holdco Inc 2021 Term Loan                                                          | CUSIP: 84850XAK8<br>LEI: 549300QAS44U2GUXGK45 | Long             | LON              | CORP              | US        |    145278 | PA      | $111682.60    | 0.08%             | 2028-03-04      | Floating      | 8.02%                 | No            |                  2 | On Loan: No      |
| SMYRNA READY MIX CONCRET                              | Smyrna Ready Mix Concrete LLC                                                           | CUSIP: 85236FAA1<br>LEI: 549300S7RFWHQFOIOY93 | Long             | DBT              | CORP              | US        |    200000 | PA      | $200924.40    | 0.15%             | 2028-11-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Fixed Income Clearing Corp                            | FIXED INC CLEARING CORP.REPO                                                            | CUSIP: 000000000<br>LEI: 549300H47WTHXPU08X20 | Long             | RA               | CORP              | US        |   4232243 | PA      | $4232242.60   | 3.21%             |  |  |  | No            |                  2 | On Loan: No      |
| STONEBRIAR ABF LLC                                    | Stonebriar ABF Issuer LLC                                                               | CUSIP: 86177CAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    102000 | PA      | $104978.40    | 0.08%             | 2030-12-15      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| Stonepeak Bayou Holdings LP                           | Stonepeak Bayou Holdings LP Term Loan B                                                 | CUSIP: 86185AAB9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     96231 | PA      | $86246.99     | 0.07%             | 2032-10-01      | Floating      | 6.42%                 | No            |                  2 | On Loan: No      |
| SUBURBAN PROPANE PARTNRS                              | Suburban Propane Partners LP/Suburban Energy Finance Corp                               | CUSIP: 864486AL9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     98000 | PA      | $94082.68     | 0.07%             | 2031-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP                                             | Sunoco LP                                                                               | CUSIP: 86765KAF6<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |    135000 | PA      | $135989.15    | 0.10%             | 2031-03-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP                                             | Sunoco LP                                                                               | CUSIP: 86765KAG4<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |     53000 | PA      | $52995.31     | 0.04%             | 2034-03-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP                                             | Sunoco LP                                                                               | CUSIP: 86765KAL3<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |    206000 | PA      | $211730.21    | 0.16%             | 2032-08-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Cornerstone OnDemand Inc                              | Cornerstone OnDemand Inc 2021 Term Loan                                                 | CUSIP: 86803YAB9<br>LEI: 549300Z402F16H5EGH48 | Long             | LON              | CORP              | US        |     56960 | PA      | $52118.46     | 0.04%             | 2028-10-16      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| SUPERIOR PLUS/GEN PRTNR                               | Superior Plus LP / Superior General Partner Inc                                         | CUSIP: 86828LAC6<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    200000 | PA      | $195231.68    | 0.15%             | 2029-03-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Surgery Center Holdings Inc                           | Surgery Center Holdings Inc 2025 Term Loan B                                            | CUSIP: 86880NBD4<br>LEI: 54930054EVI5HWPPW113 | Long             | LON              | CORP              | US        |         0 | PA      | $0.00         | 0.00%             | 2030-12-19      | Floating      | 6.22%                 | No            |                  2 | On Loan: No      |
| SURGERY CENTER HOLDINGS                               | Surgery Center Holdings Inc                                                             | CUSIP: 86881WAF9<br>LEI: 54930054EVI5HWPPW113 | Long             | DBT              | CORP              | US        |    200000 | PA      | $202293.66    | 0.15%             | 2032-04-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Star Parent Inc                                       | Star Parent Inc Term Loan B                                                             | CUSIP: 87169DAB1<br>LEI: 254900GRGCJYRMDRWT73 | Long             | LON              | CORP              | US        |    193442 | PA      | $193592.45    | 0.15%             | 2030-09-27      | Floating      | 7.67%                 | No            |                  2 | On Loan: No      |
| SYNERGY INFRASTRUCTURE H                              | Synergy Infrastructure Holdings LLC                                                     | CUSIP: 87191JAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     78000 | PA      | $80864.38     | 0.06%             | 2030-12-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| TACALA LLC                                            | Tacala LLC 2025 Repriced Term Loan B                                                    | CUSIP: 87339PAE3<br>LEI: 549300XTM341KBSTDI88 | Long             | LON              | CORP              | US        |    176362 | PA      | $177432.35    | 0.13%             | 2031-01-31      | Floating      | 6.72%                 | No            |                  2 | On Loan: No      |
| TALEN ENERGY SUPPLY LLC                               | Talen Energy Supply LLC                                                                 | CUSIP: 87422VAK4<br>LEI: K5K33XN0PQAU1XF7NN66 | Long             | DBT              | CORP              | US        |    500000 | PA      | $529377.13    | 0.40%             | 2030-06-01      | Fixed         | 8.63%                 | Yes           |                  2 | On Loan: No      |
| TAYLOR MORRISON COMM                                  | Taylor Morrison Communities Inc                                                         | CUSIP: 87724RAK8<br>LEI: 549300O1Z08HI2MRK572 | Long             | DBT              | CORP              | US        |     51000 | PA      | $52473.49     | 0.04%             | 2032-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| TEAM HEALTH HOLDINGS INC                              | Team Health Holdings Inc                                                                | CUSIP: 87817AAB3<br>LEI: 549300PVTQ4UDTTMQT11 | Long             | DBT              | CORP              | US        |    311351 | PA      | $328475.31    | 0.25%             | 2028-06-30      | Fixed         | 13.50%                | Yes           |                  2 | On Loan: No      |
| TEAM HEALTH HOLDINGS INC                              | Team Health Holdings Inc                                                                | CUSIP: 87817AAE7<br>LEI: 549300PVTQ4UDTTMQT11 | Long             | DBT              | CORP              | US        |    141000 | PA      | $142699.05    | 0.11%             | 2028-06-30      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Team Health Holdings Inc                              | Team Health Holdings Inc 2025 Term Loan B                                               | CUSIP: 87817JAH1<br>LEI: 549300PVTQ4UDTTMQT11 | Long             | LON              | CORP              | US        |    313628 | PA      | $314412.25    | 0.24%             | 2028-06-30      | Floating      | 8.34%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                                 | Tenet Healthcare Corp                                                                   | CUSIP: 88033GDV9<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |     70000 | PA      | $72071.58     | 0.05%             | 2033-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CMG Media Corporation                                 | CMG Media Corporation 2024 Term Loan                                                    | CUSIP: 88145LAF1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    249367 | PA      | $232041.37    | 0.18%             | 2029-06-18      | Floating      | 7.27%                 | No            |                  2 | On Loan: No      |
| Texas Debt Capital CLO, Ltd                           | Texas Debt Capital CLO 2025-I Ltd                                                       | CUSIP: 881947AA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $993953.00    | 0.75%             | 2038-04-24      | Floating      | 8.37%                 | No            |                  2 | On Loan: No      |
| Third Coast Infrastructure LLC                        | Third Coast Infrastructure LLC 2025 Repriced Term Loan B                                | CUSIP: 88412KAD4<br>LEI: 5493006R4EN78GPJ4M96 | Long             | LON              | CORP              | US        |    323238 | PA      | $325798.13    | 0.25%             | 2030-09-25      | Floating      | 7.47%                 | No            |                  2 | On Loan: No      |
| Cloud Software Group Inc                              | Cloud Software Group Inc 2025 Term Loan B (2031)                                        | CUSIP: 88632NBK5<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | LON              | CORP              | US        |    199000 | PA      | $199155.22    | 0.15%             | 2031-03-21      | Floating      | 6.92%                 | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP INC                                | Cloud Software Group Inc                                                                | CUSIP: 88632QAE3<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |    200000 | PA      | $202617.58    | 0.15%             | 2029-03-31      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| TRANSDIGM INC                                         | TransDigm Inc                                                                           | CUSIP: 893647BR7<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    350000 | PA      | $356165.58    | 0.27%             | 2028-08-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| TRIDENT TPI HOLDINGS INC                              | Trident TPI Holdings Inc                                                                | CUSIP: 89616RAC3<br>LEI: 549300TPLK304J3RNC85 | Long             | DBT              | CORP              | US        |    351000 | PA      | $359641.97    | 0.27%             | 2028-12-31      | Fixed         | 12.75%                | Yes           |                  2 | On Loan: No      |
| X Corp.                                               | X Corp Term Loan                                                                        | CUSIP: 90184NAG3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    249357 | PA      | $244726.76    | 0.19%             | 2029-10-26      | Floating      | 10.45%                | No            |                  2 | On Loan: No      |
| X Corp.                                               | X Corp 2025 Fixed Term Loan                                                             | CUSIP: 90184NAK4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    876803 | PA      | $873041.06    | 0.66%             | 2029-10-26      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| TKO Worldwide Holdings LLC                            | TKO Worldwide Holdings LLC 2025 Term Loan                                               | CUSIP: 90266UAL7<br>LEI: 549300JEOTH7UMZ3C491 | Long             | LON              | CORP              | US        |    262666 | PA      | $263721.72    | 0.20%             | 2031-11-21      | Floating      | 5.87%                 | No            |                  2 | On Loan: No      |
| UKG INC                                               | UKG Inc                                                                                 | CUSIP: 90279XAA0<br>LEI: 529900FKHWSTQ1GXK240 | Long             | DBT              | CORP              | US        |    259000 | PA      | $266048.17    | 0.20%             | 2031-02-01      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| US FOODS INC                                          | US Foods Inc                                                                            | CUSIP: 90290MAJ0<br>LEI: 5493000JOOFAOUY1JZ87 | Long             | DBT              | CORP              | US        |    300000 | PA      | $305578.20    | 0.23%             | 2033-04-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| US FERTILITY ENTERPRISES LLC                          | US FERTILITY ENTERPRISES LLC 2025 TERM LOAN                                             | CUSIP: 90356EAG5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    126947 | PA      | $127264.36    | 0.10%             | 2032-12-10      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| US FERTILITY ENTERPRISES LLC                          | US FERTILITY ENTERPRISES LLC 2025 DELAYED DRAW Term Loan                                | CUSIP: 90356EAH3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     19234 | PA      | $19282.49     | 0.01%             | 2032-12-10      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| UNITED TALENT AGENCY LLC                              | UNITED TALENT AGENCY LLC 2025 REPRICED TERM LOAN B                                      | CUSIP: 91301QAP2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    200000 | PA      | $201250.00    | 0.15%             | 2032-06-10      | Floating      | 6.75%                 | No            |                  2 | On Loan: No      |
| UNITI GROUP INC                                       | Uniti Group Inc                                                                         | CUSIP: 91325VAB4<br>LEI: 549300V3NU625PJUVA84 | Long             | DBT              | CORP              | US        |    120000 | PA      | $132204.00    | 0.10%             | 2027-12-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| UNITI GROUP/CSL CAPITAL                               | Uniti Group LP / Uniti Group Finance 2019 Inc / CSL Capital LLC                         | CUSIP: 91327BAA8<br>LEI: N/A                  | Long             | DBT              |  | US        |    300000 | PA      | $288095.04    | 0.22%             | 2029-02-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| UNITI GROUP/CSL CAPITAL                               | Uniti Group LP / Uniti Group Finance 2019 Inc / CSL Capital LLC                         | CUSIP: 91327TAC5<br>LEI: N/A                  | Long             | DBT              |  | US        |    300000 | PA      | $295512.31    | 0.22%             | 2032-06-15      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| VS Buyer LLC                                          | VS Buyer LLC 2025 Term Loan B                                                           | CUSIP: 91834WAG5<br>LEI: 254900G5QLDMHSCYJK25 | Long             | LON              | CORP              | US        |    236858 | PA      | $237449.65    | 0.18%             | 2031-04-12      | Floating      | 6.09%                 | No            |                  2 | On Loan: No      |
| Varsity Brands Inc                                    | Varsity Brands Inc 2025 1st Lien Term Loan                                              | CUSIP: 92227QAG1<br>LEI: 254900PLBJA0I5NSTT38 | Long             | LON              | CORP              | US        |    363998 | PA      | $365137.51    | 0.28%             | 2031-08-26      | Floating      | 6.67%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                                 | Venture Global Plaquemines LNG LLC                                                      | CUSIP: 922966AC0<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |     98000 | PA      | $100375.52    | 0.08%             | 2034-01-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                                | Venture Global LNG Inc                                                                  | CUSIP: 92332YAD3<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |    400000 | PA      | $413228.97    | 0.31%             | 2032-02-01      | Fixed         | 9.88%                 | Yes           |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                                | Venture Global LNG Inc                                                                  | CUSIP: 92332YAE1<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |    250000 | PA      | $240607.34    | 0.18%             | 2030-01-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: —       |
| VIRGIN MEDIA FINANCE PLC                              | Virgin Media Finance PLC                                                                | CUSIP: 92769VAJ8<br>LEI: 2138001LVYC87DDHT482 | Long             | DBT              | CORP              | GB        |    300000 | PA      | $264482.16    | 0.20%             | 2030-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Vistra Zero Operating Company LLC                     | Vistra Zero Operating Company LLC Term Loan B                                           | CUSIP: 92841DAB7<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | LON              | CORP              | US        |    322876 | PA      | $319092.34    | 0.24%             | 2031-04-30      | Floating      | 5.72%                 | No            |                  2 | On Loan: No      |
| VOYAGER PARENT LLC                                    | Voyager Parent LLC                                                                      | CUSIP: 92921EAA0<br>LEI: 2549002DYVI4ACSV4V71 | Long             | DBT              | CORP              | US        |    150000 | PA      | $159168.15    | 0.12%             | 2032-07-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| WBI OPERATING LLC                                     | WBI Operating LLC                                                                       | CUSIP: 92944BAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    225000 | PA      | $226356.75    | 0.17%             | 2030-10-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| WBI OPERATING LLC                                     | WBI Operating LLC                                                                       | CUSIP: 92944BAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    125000 | PA      | $124526.56    | 0.09%             | 2033-10-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Wand NewCo 3 Inc                                      | Wand NewCo 3 Inc 2025 Repriced Term Loan B                                              | CUSIP: 93369PAM6<br>LEI: 549300Y3VZEWMSQW8494 | Long             | LON              | CORP              | US        |    291964 | PA      | $292118.70    | 0.22%             | 2031-01-30      | Floating      | 6.22%                 | No            |                  2 | On Loan: No      |
| TRAVELEX TOPCO LIMITED                                | TRAVELEX TOPCO LIMITED                                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | GB        |      9365 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| DON JERSEY TOPCO LIMITED                              | DON JERSEY TOPCO LIMITED                                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | GB        |    292774 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Amedes Holding AG                                     | Amedes Holding AG 2021 EUR Term Loan B                                                  | CUSIP: 000000000<br>LEI: 529900XZ3LKWM6FHN332 | Long             | LON              | CORP              | DE        |    500000 | PA      | $497697.20    | 0.38%             | 2028-11-20      | Floating      | 5.82%                 | No            |                  2 | On Loan: No      |
| TOURMALINE OIL CORP                                   | TOURMALINE OIL CORP                                                                     | CUSIP: 000000000<br>LEI: 894500I7AXG91VB3PM28 | Long             | EC               | CORP              | CA        |    122953 | NS      | $89579.93     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| JUBILEE TOPCO LIMITED                                 | JUBILEE TOPCO LIMITED                                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | GB        |       746 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| JUBILEE TOPCO LIMITED                                 | JUBILEE TOPCO LIMITED                                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | GB        |    194966 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| JUBILEE TOPCO LIMITED                                 | JUBILEE TOPCO LIMITED                                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | GB        |    363125 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| CAMPFIRE TOPCO LIMITED                                | CAMPFIRE TOPCO LIMITED                                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | DE        |    448154 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| VUE TOPCO EQUITY A3                                   | VUE TOPCO EQUITY A3                                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | LT        |    233558 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| SERTA SIMMONS COMMON                                  | SERTA SIMMONS COMMON                                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     14736 | NS      | $136308.00    | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| INNOVATION INTERNATIONAL HOLDI                        | INNOVATION INTERNATIONAL HOLDI                                                          | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               |  | GB        |     83667 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| BAHIA DE LAS ISLETAS SL                               | BAHIA DE LAS ISLETAS SL                                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | ES        |   5454162 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| WATCO COS LLC/FINANCE CO                              | Watco Cos LLC / Watco Finance Corp                                                      | CUSIP: 941130AD8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    317000 | PA      | $331996.32    | 0.25%             | 2032-08-01      | Fixed         | 7.13%                 | Yes           |                  2 | On Loan: No      |
| AI Sirona (Luxembourg) Acquisition Sarl               | AI Sirona (Luxembourg) Acquisition Sarl 2021 EUR 1st Lien Term Loan B                   | CUSIP: 000000000<br>LEI: 549300MQC452SFMN5167 | Long             | LON              | CORP              | FR        |    500000 | PA      | $230004.27    | 0.17%             | 2028-12-18      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| WEATHERFORD INTERNATIONA                              | Weatherford International Ltd                                                           | CUSIP: 947075AW7<br>LEI: 549300A2JKMG5PGOGF82 | Long             | DBT              | CORP              | BM        |    168000 | PA      | $172050.82    | 0.13%             | 2033-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Technicolor Creative Studios                          | Technicolor Creative Studios 2023 EUR PIK Reinstated Term Loan B                        | CUSIP: 000000000<br>LEI: 54930064SP2SSEVKFJ48 | Long             | LON              | CORP              | FR        |     87302 | PA      | $512.99       | 0.00%             | 2026-09-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Technicolor Creative Studios                          | Technicolor Creative Studios 2023 EUR PIK Term Loan                                     | CUSIP: 000000000<br>LEI: 54930064SP2SSEVKFJ48 | Long             | LON              | CORP              | FR        |     82145 | PA      | $0.00         | 0.00%             | 2033-03-28      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| Vue International Bidco plc                           | Vue International Bidco plc 2022 EUR Term Loan                                          | CUSIP: 000000000<br>LEI: 9845009F4EIBBC5BB612 | Long             | LON              | CORP              | JE        |    158216 | PA      | $186865.60    | 0.14%             | 2027-06-30      | Floating      | 10.10%                | No            |                  2 | On Loan: No      |
| Tunstall Group Holdings Limited                       | Tunstall Group Holdings Limited 2023 EUR Reinstated Term Loan B                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | GB        |    343904 | PA      | $171766.26    | 0.13%             | 2027-12-20      | Floating      | 4.90%                 | Yes           |                  3 | On Loan: No      |
| CCP Lux Holding Sa rl                                 | CCP Lux Holding Sa rl 2023 EUR Term Loan B                                              | CUSIP: 000000000<br>LEI: 549300FR83YTVF5SBN40 | Long             | LON              | CORP              | LU        |    500000 | PA      | $566299.50    | 0.43%             | 2028-01-05      | Floating      | 6.85%                 | No            |                  2 | On Loan: No      |
| Motion Finco Sarl                                     | Motion Finco Sarl 2023 EUR Term Loan B                                                  | CUSIP: 000000000<br>LEI: 2549002L1LBQZKA7UN30 | Long             | LON              | CORP              | LU        |    500000 | PA      | $521101.30    | 0.40%             | 2029-11-12      | Floating      | 5.77%                 | No            |                  2 | On Loan: No      |
| Flint Group Midco Limited                             | Flint Group Midco Limited USD Opco Term Loan                                            | CUSIP: 000000000<br>LEI: 549300KLX20KIO31CV35 | Long             | LON              | CORP              | US        |    177454 | PA      | $167583.79    | 0.13%             | 2026-12-31      | Floating      | 8.37%                 | No            |                  2 | On Loan: No      |
| Flint Group Topco Limited                             | Flint Group Topco Limited USD First Lien HoldCo Facility                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | JE        |    108383 | PA      | $76572.34     | 0.06%             | 2027-12-30      | Floating      | 6.90%                 | No            |                  2 | On Loan: No      |
| Flint Group Topco Limited                             | Flint Group Topco Limited USD Second Lien HoldCo Facility                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | JE        |    144534 | PA      | $8093.91      | 0.01%             | 2027-12-31      | Floating      | 6.90%                 | No            |                  2 | On Loan: No      |
| Flint Group Packaging INKS North America Holdings LLC | Flint Group Packaging INKS North America Holdings LLC EUR Opco Term Loan                | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | JE        |    561496 | PA      | $626467.13    | 0.47%             | 2027-12-31      | Floating      | 6.29%                 | No            |                  2 | On Loan: No      |
| Flint Group Packaging INKS North America Holdings LLC | Flint Group Packaging INKS North America Holdings LLC EUR PIK 2nd Lien Holdco Term Loan | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | JE        |    438177 | PA      | $27034.65     | 0.02%             | 2028-12-30      | Floating      | 6.90%                 | No            |                  2 | On Loan: No      |
| Flint Group Packaging INKS North America Holdings LLC | Flint Group Packaging INKS North America Holdings LLC EUR PIK Holdco Term Loan          | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    328579 | PA      | $273391.02    | 0.21%             | 2028-12-30      | Floating      | 6.90%                 | No            |                  2 | On Loan: No      |
| HRN BIDCO AS                                          | HRN BIDCO AS                                                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | NO        |      5296 | NS      | $126095.24    | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| HX BIDCO AS                                           | HX BIDCO AS                                                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | NO        |      1067 | NS      | $7191.32      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| TECHNICOLOR CREATIVE STUDIOS                          | TECHNICOLOR CREATIVE STUDIOS                                                            | CUSIP: 000000000<br>LEI: 54930064SP2SSEVKFJ48 | Long             | EC               | CORP              | US        |  17217094 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| VERITAS SERIES G 1 PREFERRED                          | VERITAS SERIES G 1 PREFERRED                                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |       702 | NS      | $16146.00     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| White Cap Buyer LLC                                   | White Cap Buyer LLC 2024 Term Loan B                                                    | CUSIP: 96350TAH3<br>LEI: 254900L2N0T6GULCL366 | Long             | LON              | CORP              | US        |    240016 | PA      | $240935.44    | 0.18%             | 2029-10-19      | Floating      | 6.97%                 | No            |                  2 | On Loan: No      |
| VERITAS SERIES G PREFERRED STO                        | VERITAS SERIES G PREFERRED STO                                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |      1017 | NS      | $23899.50     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Wilsonart LLC                                         | Wilsonart LLC 2024 Term Loan B                                                          | CUSIP: 97246FAM8<br>LEI: 549300SAZRUMYKDJBY14 | Long             | LON              | CORP              | US        |    149621 | PA      | $144758.52    | 0.11%             | 2031-08-05      | Floating      | 7.92%                 | No            |                  2 | On Loan: No      |
| WILSONART LLC                                         | Wilsonart LLC                                                                           | CUSIP: 97246JAA6<br>LEI: 549300SAZRUMYKDJBY14 | Long             | DBT              | CORP              | US        |    200000 | PA      | $178716.44    | 0.14%             | 2032-08-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| WINDSTREAM SERVICES/ESCR                              | Windstream Services LLC / Windstream Escrow Finance Corp                                | CUSIP: 97381AAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $262442.39    | 0.20%             | 2031-10-01      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| Windstream Services LLC                               | Windstream Services LLC 2025 Term Loan B                                                | CUSIP: 97381JAK9<br>LEI: 549300KT9GVEBYCD2N29 | Long             | LON              | CORP              | US        |    159635 | PA      | $160034.20    | 0.12%             | 2032-10-06      | Floating      | 7.72%                 | No            |                  2 | On Loan: No      |
| SWAP CANADIAN IMPERIAL BANK BO                        | SWAP CANADIAN IMPERIAL BANK BO                                                          | CUSIP: 000000000<br>LEI: 2IGI19DL77OX0HC3ZE78 | Short            | STIV             | CORP              | US        |    -20000 | NS      | $-20000.00    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| XPLR INFRAST OPERATING                                | XPLR Infrastructure Operating Partners LP                                               | CUSIP: 98380MAA3<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |    122000 | PA      | $128054.98    | 0.10%             | 2031-01-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| XPLR INFRAST OPERATING                                | XPLR Infrastructure Operating Partners LP                                               | CUSIP: 98380MAB1<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |    129000 | PA      | $135709.84    | 0.10%             | 2033-03-15      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| ZAYO GROUP HOLDINGS INC                               | Zayo Group Holdings Inc                                                                 | CUSIP: 98919VAC9<br>LEI: 529900Z6OTS7RT0V0I47 | Long             | DBT              | CORP              | US        |       541 | PA      | $513.95       | 0.00%             | 2030-03-09      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| Zayo Group Holdings Inc                               | Zayo Group Holdings Inc 2025 USD Term Loan                                              | CUSIP: 98919XAH4<br>LEI: 529900Z6OTS7RT0V0I47 | Long             | LON              | CORP              | US        |    387093 | PA      | $366325.69    | 0.28%             | 2030-03-11      | Floating      | 6.83%                 | No            |                  2 | On Loan: No      |
| HOUSE OF FRASER FUNDING                               | House of Fraser Funding PLC                                                             | CUSIP: 000000000<br>LEI: 213800P7RKFZN1OO5R52 | Long             | DBT              | CORP              | GB        |    150000 | PA      | $101.10       | 0.00%             | 2020-09-15      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| TRAVELEX FINANCING PLC                                | Travelex Financing PLC                                                                  | CUSIP: 000000000<br>LEI: 6354009XFWVZER7G5X35 | Long             | DBT              | CORP              | GB        |   1050000 | PA      | $4627.35      | 0.00%             | 2022-05-15      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| BlackRock European CLO DAC                            | Blackrock European CLO VII DAC                                                          | CUSIP: 000000000<br>LEI: 635400IDVZFM7YPKHY80 | Long             | ABS-CBDO         | CORP              | IE        |    725000 | PA      | $852155.47    | 0.65%             | 2031-10-15      | Floating      | 7.18%                 | Yes           |                  2 | On Loan: No      |
| SOVCOMBANK (SOVCOM CAPT)                              | Sovcombank Via SovCom Capital DAC                                                       | CUSIP: 000000000<br>LEI: 635400EQFFCXMNLYU680 | Long             | DBT              | CORP              | IE        |    500000 | PA      | $0.00         | 0.00%             | 2030-05-06      | Fixed         | 7.75%                 | Yes           |                  3 | On Loan: No      |
| Travelex International Ltd.                           | Travelex International Ltd.                                                             | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               |  | GB        |       837 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| VODAFONE GROUP PLC                                    | Vodafone Group PLC                                                                      | CUSIP: 000000000<br>LEI: 213800TB53ELEUKM7Q61 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $113219.47    | 0.09%             | 2080-08-27      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| TRAVELEX ISSUERCO 2 PLC                               | Travelex Issuerco 2 PLC                                                                 | CUSIP: 000000000<br>LEI: 213800X5CA5ZLTI55177 | Long             | DBT              | CORP              | GB        |   2048526 | PA      | $1866094.42   | 1.41%             | 2029-03-31      | Fixed         | 3.01%                 | Yes           |                  2 | On Loan: No      |
| GRAND CITY PROPERTIES SA                              | Grand City Properties SA                                                                | CUSIP: 000000000<br>LEI: 5299002QLUYKK2WBMB18 | Long             | DBT              | CORP              | LU        |    300000 | PA      | $347073.43    | 0.26%             | 2026-03-09      | Fixed         | 1.50%                 | Yes           |                  2 | On Loan: No      |
| EMERIA SASU                                           | Emeria SASU                                                                             | CUSIP: 000000000<br>LEI: 969500SA2FHM81LPJ311 | Long             | DBT              | CORP              | FR        |    150000 | PA      | $154058.38    | 0.12%             | 2028-03-31      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| BAPCO ENERGIES SUKUK LTD                              | Bapco Energies Sukuk Ltd                                                                | CUSIP: 000000000<br>LEI: 54930062R6OFRHBRAI29 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $198897.12    | 0.15%             | 2029-04-08      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| PCF GMBH                                              | PCF GmbH                                                                                | CUSIP: 000000000<br>LEI: 5299001ZMR76CCHGY076 | Long             | DBT              | CORP              | DE        |    250000 | PA      | $136915.10    | 0.10%             | 2029-04-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| VMED O2 UK FINAN                                      | Vmed O2 UK Financing I PLC                                                              | CUSIP: 000000000<br>LEI: 213800MRR46ECNGZ7L69 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $238873.45    | 0.18%             | 2031-07-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Tymon Park CLO Ltd                                    | Tymon Park CLO DAC                                                                      | CUSIP: 000000000<br>LEI: 549300Y293DUMFBSH733 | Long             | ABS-CBDO         | CORP              | IE        |   1000000 | PA      | $1181031.33   | 0.90%             | 2034-07-21      | Floating      | 8.17%                 | Yes           |                  2 | On Loan: No      |
| Bain Capital Euro CLO                                 | Bain Capital Euro CLO 2021-2 DAC                                                        | CUSIP: 000000000<br>LEI: 5493009FIQULGQV8VN86 | Long             | ABS-CBDO         | CORP              | IE        |    800000 | PA      | $923202.33    | 0.70%             | 2034-07-17      | Floating      | 8.24%                 | Yes           |                  2 | On Loan: No      |
| BCP MODULAR SERVICES                                  | BCP V Modular Services Finance II PLC                                                   | CUSIP: 000000000<br>LEI: 213800227GGD6UI7PI97 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $221947.12    | 0.17%             | 2028-11-30      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| BCP V MODULAR SERVICES                                | BCP V Modular Services Finance PLC                                                      | CUSIP: 000000000<br>LEI: 213800K8U94KVZL98H64 | Long             | DBT              | CORP              | GB        |    150000 | PA      | $135965.48    | 0.10%             | 2029-11-30      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| ODIDO GROUP HOLDING BV                                | Odido Group Holding BV                                                                  | CUSIP: 000000000<br>LEI: 724500FOAL1MNGOJKP07 | Long             | DBT              | CORP              | NL        |    150000 | PA      | $177449.60    | 0.13%             | 2030-01-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| CERVED INFORMATION SOLUT                              | Cerved Group SpA                                                                        | CUSIP: 000000000<br>LEI: 8156005E0EF91772E207 | Long             | DBT              | CORP              | IT        |    199000 | PA      | $218963.60    | 0.17%             | 2029-02-15      | Floating      | 7.35%                 | Yes           |                  2 | On Loan: No      |
| BAYER AG                                              | Bayer AG                                                                                | CUSIP: 000000000<br>LEI: 549300J4U55H3WP1XT59 | Long             | DBT              | CORP              | DE        |    200000 | PA      | $241197.00    | 0.18%             | 2082-03-25      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| TELEFONICA EUROPE BV                                  | Telefonica Europe BV                                                                    | CUSIP: 000000000<br>LEI: 7245007FZS0M65WUGP67 | Long             | DBT              | CORP              | NL        |    100000 | PA      | $125397.81    | 0.10%             | 2030-02-03      | Fixed         | 6.14%                 | Yes           |                  2 | On Loan: No      |
| ELIA GROUP SA/NV                                      | Elia Group SA/NV                                                                        | CUSIP: 000000000<br>LEI: 549300S1MP1NFDIKT460 | Long             | DBT              | CORP              | BE        |    100000 | PA      | $123141.77    | 0.09%             | 2028-03-15      | Fixed         | 5.85%                 | Yes           |                  2 | On Loan: No      |
| ORANGE SA                                             | Orange SA                                                                               | CUSIP: 000000000<br>LEI: 969500MCOONR8990S771 | Long             | DBT              | CORP              | FR        |    100000 | PA      | $124581.32    | 0.09%             | 2030-01-18      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| TVL FINANCE PLC                                       | TVL Finance PLC                                                                         | CUSIP: 000000000<br>LEI: 549300DUQXE7VXG8YA50 | Long             | DBT              | CORP              | JE        |    200000 | PA      | $274297.79    | 0.21%             | 2028-04-28      | Fixed         | 10.25%                | Yes           |                  2 | On Loan: No      |
| ENGINEERING SPA                                       | Engineering - Ingegneria Informatica - SpA                                              | CUSIP: 000000000<br>LEI: 81560042F5E23EE61346 | Long             | DBT              | CORP              | IT        |    200000 | PA      | $248798.30    | 0.19%             | 2028-05-15      | Fixed         | 11.13%                | Yes           |                  2 | On Loan: No      |
| VODAFONE GROUP PLC                                    | Vodafone Group PLC                                                                      | CUSIP: 000000000<br>LEI: 213800TB53ELEUKM7Q61 | Long             | DBT              | CORP              | GB        |    150000 | PA      | $191371.32    | 0.15%             | 2084-08-30      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| SGL CARBON SE                                         | SGL Carbon SE                                                                           | CUSIP: 000000000<br>LEI: 52990038IB31TYK07X63 | Long             | DBT              | CORP              | DE        |    200000 | PA      | $228355.46    | 0.17%             | 2028-06-28      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| BAYER AG                                              | Bayer AG                                                                                | CUSIP: 000000000<br>LEI: 549300J4U55H3WP1XT59 | Long             | DBT              | CORP              | DE        |    200000 | PA      | $258250.43    | 0.20%             | 2083-09-25      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| VAR ENERGI ASA                                        | Var Energi ASA                                                                          | CUSIP: 000000000<br>LEI: 549300LIVN3FFOJN2K47 | Long             | DBT              | CORP              | NO        |    200000 | PA      | $258059.25    | 0.20%             | 2083-11-15      | Fixed         | 7.86%                 | Yes           |                  2 | On Loan: No      |
| TURKIYE GARANTI BANKASI                               | Turkiye Garanti Bankasi AS                                                              | CUSIP: 000000000<br>LEI: 5493002XSS7K7RHN1V37 | Long             | DBT              | CORP              | TR        |    220000 | PA      | $229691.21    | 0.17%             | 2034-02-28      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| TELEFONICA EUROPE BV                                  | Telefonica Europe BV                                                                    | CUSIP: 000000000<br>LEI: 7245007FZS0M65WUGP67 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $248798.76    | 0.19%             | 2032-01-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| HEATHROW FINANCE PLC                                  | Heathrow Finance PLC                                                                    | CUSIP: 000000000<br>LEI: 549300F740QSGMPHQJ60 | Long             | DBT              | CORP              | GB        |    350000 | PA      | $474386.58    | 0.36%             | 2031-03-01      | Fixed         | 6.63%                 | Yes           |                  2 | On Loan: No      |
| PINEWOOD FINCO PLC                                    | Pinewood Finco PLC                                                                      | CUSIP: 000000000<br>LEI: 984500EF3F7CA63ND769 | Long             | DBT              | CORP              | GB        |    300000 | PA      | $406660.79    | 0.31%             | 2030-03-27      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| PROGROUP AG                                           | Progroup AG                                                                             | CUSIP: 000000000<br>LEI: 529900YI5W5TQ8F2FP82 | Long             | DBT              | CORP              | DE        |    300000 | PA      | $360389.47    | 0.27%             | 2031-04-15      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: —       |
| FEDRIGONI SPA                                         | Fedrigoni SpA                                                                           | CUSIP: 000000000<br>LEI: 8156004CE82074779D19 | Long             | DBT              | CORP              | IT        |    100000 | PA      | $114528.34    | 0.09%             | 2031-06-15      | Fixed         | 6.13%                 | Yes           |                  2 | On Loan: —       |
| CENTRICA PLC                                          | Centrica PLC                                                                            | CUSIP: 000000000<br>LEI: E26EDV109X6EEPBKVH76 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $277680.50    | 0.21%             | 2055-05-21      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| HTA GROUP LTD                                         | HTA Group Ltd/Mauritius                                                                 | CUSIP: 000000000<br>LEI: 213800WEFU8O8X6EPU13 | Long             | DBT              | CORP              | MU        |    367000 | PA      | $378734.81    | 0.29%             | 2029-06-04      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| VEON MIDCO BV                                         | Veon Midco BV                                                                           | CUSIP: 000000000<br>LEI: 213800GOFSH7EPKBRE50 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $189581.02    | 0.14%             | 2027-11-25      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| PLT VII FINANCE SARL                                  | PLT VII Finance Sarl                                                                    | CUSIP: 000000000<br>LEI: 894500SKZV4JDP64R249 | Long             | DBT              | CORP              | LU        |    100000 | PA      | $118201.79    | 0.09%             | 2031-06-15      | Floating      | 5.60%                 | Yes           |                  2 | On Loan: No      |
| NATIONAL BANK OF UZBEKIS                              | National Bank of Uzbekistan                                                             | CUSIP: 000000000<br>LEI: 253400TZJ7T1YULTGN68 | Long             | DBT              | NUSS              | UZ        |    300000 | PA      | $321065.83    | 0.24%             | 2029-07-05      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| UZBEK INDUSTRIAL AND CON                              | Uzbek Industrial and Construction Bank ATB                                              | CUSIP: 000000000<br>LEI: 213800C2NIFPFTXYIU69 | Long             | DBT              | CORP              | UZ        |    200000 | PA      | $214441.89    | 0.16%             | 2029-07-24      | Fixed         | 8.95%                 | Yes           |                  2 | On Loan: No      |
| OCADO GROUP PLC                                       | Ocado Group PLC                                                                         | CUSIP: 000000000<br>LEI: 213800LO8F61YB8MBC74 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $244737.45    | 0.19%             | 2029-08-06      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| OCADO GROUP PLC                                       | Ocado Group PLC                                                                         | CUSIP: 000000000<br>LEI: 213800LO8F61YB8MBC74 | Long             | DBT              | CORP              | GB        |    270000 | PA      | $365179.93    | 0.28%             | 2029-08-08      | Fixed         | 10.50%                | Yes           |                  2 | On Loan: No      |
| ELECTRICITE DE FRANCE SA                              | Electricite de France SA                                                                | CUSIP: 000000000<br>LEI: 549300X3UK4GG3FNMO06 | Long             | DBT              | CORP              | FR        |    100000 | PA      | $138149.71    | 0.10%             | 2035-06-17      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| DYNAMO NEWCO II GMBH                                  | Dynamo Newco II GmbH                                                                    | CUSIP: 000000000<br>LEI: 391200FDSPYB8FKV7F97 | Long             | DBT              | CORP              | DE        |    100000 | PA      | $119699.34    | 0.09%             | 2031-10-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| IHO VERWALTUNGS GMBH                                  | IHO Verwaltungs GmbH                                                                    | CUSIP: 000000000<br>LEI: 529900JL0HDVGZMUJF32 | Long             | DBT              | CORP              | DE        |    250000 | PA      | $317195.76    | 0.24%             | 2031-11-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| UNITED GROUP BV                                       | United Group BV                                                                         | CUSIP: 000000000<br>LEI: 213800PC85O8BJ7DU398 | Long             | DBT              | CORP              | NL        |    150000 | PA      | $179930.46    | 0.14%             | 2031-10-31      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| CALIFORNIA BUYER/ATLANTI                              | California Buyer Ltd / Atlantica Sustainable Infrastructure PLC                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |    120000 | PA      | $144058.82    | 0.11%             | 2032-02-15      | Fixed         | 5.63%                 | Yes           |                  2 | On Loan: No      |
| WORLDLINE SA/FRANCE                                   | Worldline SA/France                                                                     | CUSIP: 000000000<br>LEI: 549300CJMQNCA0U4TS33 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $207439.34    | 0.16%             | 2029-11-27      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: —       |
| SHERWOOD FINANCING PLC                                | Sherwood Financing PLC                                                                  | CUSIP: 000000000<br>LEI: 259400SSZWSSPNYW7K08 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $228213.61    | 0.17%             | 2029-12-15      | Fixed         | 7.63%                 | Yes           |                  2 | On Loan: —       |
| GRIFOLS SA                                            | Grifols SA                                                                              | CUSIP: 000000000<br>LEI: 959800HSSNXWRKBK4N60 | Long             | DBT              | CORP              | ES        |    130000 | PA      | $160284.49    | 0.12%             | 2030-05-01      | Fixed         | 7.13%                 | Yes           |                  2 | On Loan: No      |
| ENEL SPA                                              | Enel SpA                                                                                | CUSIP: 000000000<br>LEI: WOCMU6HCI0OJWNPRZS33 | Long             | DBT              | CORP              | IT        |    200000 | PA      | $236678.23    | 0.18%             | 2032-10-14      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| LA POSTE SA                                           | La Poste SA                                                                             | CUSIP: 000000000<br>LEI: 9695000YG7TR7PAP0L59 | Long             | DBT              | CORP              | FR        |    100000 | PA      | $121368.39    | 0.09%             | 2031-04-16      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| AZULE ENERGY FINANCE PLC                              | Azule Energy Finance Plc                                                                | CUSIP: 000000000<br>LEI: 2138006X6O82RJSQDB63 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $200241.00    | 0.15%             | 2030-01-23      | Fixed         | 8.13%                 | Yes           |                  2 | On Loan: No      |
| TURKCELL ILETISIM HIZMET                              | Turkcell Iletisim Hizmetleri AS                                                         | CUSIP: 000000000<br>LEI: 7890003EX1LTLS2FFL84 | Long             | DBT              | CORP              | TR        |    200000 | PA      | $212617.76    | 0.16%             | 2032-01-24      | Fixed         | 7.65%                 | Yes           |                  2 | On Loan: No      |
| ENGINEERING SPA                                       | Engineering - Ingegneria Informatica - SpA                                              | CUSIP: 000000000<br>LEI: 81560042F5E23EE61346 | Long             | DBT              | CORP              | IT        |    100000 | PA      | $126019.47    | 0.10%             | 2030-02-15      | Fixed         | 8.63%                 | Yes           |                  2 | On Loan: No      |
| SUMMER BC HOLDCO B SARL                               | Summer BC Holdco B SARL                                                                 | CUSIP: 000000000<br>LEI: 984500NRF59D5DB9B654 | Long             | DBT              | CORP              | LU        |    100000 | PA      | $108299.93    | 0.08%             | 2030-02-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| CIDRON AIDA FINCO SARL                                | Cidron Aida Finco Sarl                                                                  | CUSIP: 000000000<br>LEI: 98450036A07991DEBF10 | Long             | DBT              | CORP              | LU        |    270000 | PA      | $374942.19    | 0.28%             | 2031-10-27      | Fixed         | 9.13%                 | Yes           |                  2 | On Loan: —       |
| OFFICE CHERIFIEN DES PHO                              | OCP SA                                                                                  | CUSIP: 000000000<br>LEI: 213800D26TAPVTCVWG40 | Long             | DBT              | CORP              | MA        |    200000 | PA      | $214492.18    | 0.16%             | 2036-03-01      | Fixed         | 6.70%                 | Yes           |                  2 | On Loan: No      |
| WINTERSHALL DEA FIN 2BV                               | Wintershall Dea Finance 2 BV                                                            | CUSIP: 000000000<br>LEI: 529900DV88FUQZSVVL48 | Long             | DBT              | CORP              | NL        |    270000 | PA      | $323700.21    | 0.25%             | 2030-05-08      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| NIDDA HEALTHCARE HOLDING                              | Nidda Healthcare Holding GmbH                                                           | CUSIP: 000000000<br>LEI: 549300Q89C4WAO6L0L19 | Long             | DBT              | CORP              | DE        |    200000 | PA      | $240187.16    | 0.18%             | 2030-10-23      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| VOLKSWAGEN INTL FIN NV                                | Volkswagen International Finance NV                                                     | CUSIP: 000000000<br>LEI: 5299004PWNHKYTR23649 | Long             | DBT              | CORP              | NL        |    400000 | PA      | $486435.02    | 0.37%             | 2033-11-15      | Fixed         | 5.99%                 | Yes           |                  2 | On Loan: No      |
| EDP SA                                                | EDP SA                                                                                  | CUSIP: 000000000<br>LEI: 529900CLC3WDMGI9VH80 | Long             | DBT              | CORP              | PT        |    300000 | PA      | $357836.94    | 0.27%             | 2055-05-27      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| SUNRISE FINCO I BV                                    | Sunrise FinCo I BV                                                                      | CUSIP: 000000000<br>LEI: 213800MNFBDEQRS6HZ22 | Long             | DBT              | CORP              | NL        |    100000 | PA      | $118698.70    | 0.09%             | 2032-05-15      | Fixed         | 4.63%                 | Yes           |                  2 | On Loan: No      |
| TRIVIUM PACKAGING FIN                                 | Trivium Packaging Finance BV                                                            | CUSIP: 000000000<br>LEI: 724500GMZWW3PVYET548 | Long             | DBT              | CORP              | NL        |    140000 | PA      | $173245.41    | 0.13%             | 2030-07-15      | Fixed         | 6.63%                 | Yes           |                  2 | On Loan: No      |
| BRITISH TELECOMMUNICATIO                              | British Telecommunications PLC                                                          | CUSIP: 000000000<br>LEI: 549300OWFMSO9NYV4H90 | Long             | DBT              | CORP              | GB        |    180000 | PA      | $248022.07    | 0.19%             | 2055-12-03      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| WORLDLINE SA/FRANCE                                   | Worldline SA/France                                                                     | CUSIP: 000000000<br>LEI: 549300CJMQNCA0U4TS33 | Long             | DBT              | CORP              | FR        |    100000 | PA      | $102509.64    | 0.08%             | 2030-06-10      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: —       |
| ZF EUROPE FINANCE BV                                  | ZF Europe Finance BV                                                                    | CUSIP: 000000000<br>LEI: 549300RI533US2G6G542 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $247611.92    | 0.19%             | 2030-06-12      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| MEHILAINEN YHTIOT OY                                  | Mehilainen Yhtiot Oy                                                                    | CUSIP: 000000000<br>LEI: 2138006X78HGYRHS5865 | Long             | DBT              | CORP              | FI        |    100000 | PA      | $118681.78    | 0.09%             | 2032-06-30      | Floating      | 5.39%                 | Yes           |                  2 | On Loan: No      |
| TEAMSYSTEM SPA                                        | TeamSystem SpA                                                                          | CUSIP: 000000000<br>LEI: 81560062081DF3AB7A90 | Long             | DBT              | CORP              | IT        |    110000 | PA      | $130462.76    | 0.10%             | 2031-07-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| FIBERCOP SPA                                          | Fibercop SpA                                                                            | CUSIP: 000000000<br>LEI: 8156007022402E114A31 | Long             | DBT              | CORP              | IT        |    160000 | PA      | $191103.41    | 0.14%             | 2032-06-30      | Fixed         | 5.13%                 | Yes           |                  2 | On Loan: No      |
| LUNA 2 5SARL                                          | Luna 2 5SARL                                                                            | CUSIP: 000000000<br>LEI: 894500N8J2QVEYP0UI86 | Long             | DBT              | CORP              | LU        |    100000 | PA      | $119668.57    | 0.09%             | 2032-07-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| TECHEM VERWALTUNGSGESELL                              | Techem Verwaltungsgesellschaft 675 mbH                                                  | CUSIP: 000000000<br>LEI: 529900N0M7FQHNAV1A41 | Long             | DBT              | CORP              | DE        |    150000 | PA      | $177857.97    | 0.13%             | 2032-07-15      | Floating      | 5.07%                 | Yes           |                  2 | On Loan: No      |
| INTRUM INV AND FIN                                    | Intrum Investments And Financing AB                                                     | CUSIP: 000000000<br>LEI: 984500D7B1EFD7460452 | Long             | DBT              | CORP              | SE        |    189861 | PA      | $211978.03    | 0.16%             | 2027-09-11      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| LUNA 1.5 SARL                                         | Luna 1.5 Sarl                                                                           | CUSIP: 000000000<br>LEI: 64884UZ60Y77J5XK5C41 | Long             | DBT              | CORP              | LU        |    133000 | PA      | $162526.47    | 0.12%             | 2032-07-01      | Fixed         | 10.50%                | Yes           |                  2 | On Loan: No      |
| ILIAD SA                                              | iliad SA                                                                                | CUSIP: 000000000<br>LEI: 969500FZ9BTRZS3JNB97 | Long             | DBT              | CORP              | FR        |    100000 | PA      | $118548.30    | 0.09%             | 2032-01-09      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| BIDVEST GROUP UK PLC                                  | Bidvest Group UK PLC/The                                                                | CUSIP: 000000000<br>LEI: 984500A80C777F496830 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $203782.00    | 0.15%             | 2032-09-17      | Fixed         | 6.20%                 | Yes           |                  2 | On Loan: No      |
| VEOLIA ENVIRONNEMENT SA                               | Veolia Environnement SA                                                                 | CUSIP: 000000000<br>LEI: 969500LENY69X51OOT31 | Long             | DBT              | CORP              | FR        |    300000 | PA      | $350829.63    | 0.27%             | 2032-10-24      | Fixed         | 4.32%                 | Yes           |                  2 | On Loan: No      |
| ION PLATFORM FINANCE SAR                              | ION Platform Finance SARL                                                               | CUSIP: 000000000<br>LEI: 6488IU1F9M51Z3P60R77 | Long             | DBT              | CORP              | LU        |    100000 | PA      | $112412.11    | 0.09%             | 2032-09-30      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| ION PLATFORM FINANCE SAR                              | ION Platform Finance SARL                                                               | CUSIP: 000000000<br>LEI: 6488IU1F9M51Z3P60R77 | Long             | DBT              | CORP              | LU        |    100000 | PA      | $113723.64    | 0.09%             | 2030-09-30      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| UZBEK INDUSTRIAL AND CON                              | Uzbek Industrial and Construction Bank ATB                                              | CUSIP: 000000000<br>LEI: 213800C2NIFPFTXYIU69 | Long             | DBT              | CORP              | UZ        |    200000 | PA      | $201204.78    | 0.15%             | 2030-10-23      | Fixed         | 9.45%                 | Yes           |                  2 | On Loan: No      |
| GATWICK AIRPORT FINANCE                               | Gatwick Airport Finance PLC                                                             | CUSIP: 000000000<br>LEI: 213800BDRHDHRGTQ1D63 | Long             | DBT              | CORP              | GB        |    250000 | PA      | $337536.92    | 0.26%             | 2030-11-21      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| EIRCOM FINANCE DAC                                    | eircom Finance DAC                                                                      | CUSIP: 000000000<br>LEI: 254900NA4DUH50UERM85 | Long             | DBT              | CORP              | IE        |    175000 | PA      | $209159.50    | 0.16%             | 2031-04-30      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Ares Euro CLO                                         | Ares European Clo XVIII DAC                                                             | CUSIP: 000000000<br>LEI: 635400UY4RYTL5ZYBG66 | Long             | ABS-CBDO         | CORP              | IE        |   1000000 | PA      | $1163416.26   | 0.88%             | 2038-10-15      | Floating      | 7.62%                 | No            |                  2 | On Loan: No      |
| EDP SA                                                | EDP SA                                                                                  | CUSIP: 000000000<br>LEI: 529900CLC3WDMGI9VH80 | Long             | DBT              | CORP              | PT        |    100000 | PA      | $116749.07    | 0.09%             | 2055-12-02      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Eurex Deutschland                                     | EURO-BOBL FUTURE MAR26                                                                  | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              |  | DE        |        26 | NC      | $-15330.15    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Vue Entertainment International Limited               | Vue Entertainment International Limited 2023 EUR Floating PIK Reinstated Term Loan B    | CUSIP: 000000000<br>LEI: 9845009F4EIBBC5BB612 | Long             | LON              | CORP              | GB        |    302293 | PA      | $223810.52    | 0.17%             | 2027-12-31      | Floating      | 8.00%                 | No            |                  2 | On Loan: No      |
| Vue Entertainment International Limited               | Vue Entertainment International Limited 2023 EUR Floating PIK Term Loan                 | CUSIP: 000000000<br>LEI: 9845009F4EIBBC5BB612 | Long             | LON              | CORP              | GB        |    192919 | PA      | $217649.52    | 0.16%             | 2027-12-31      | Floating      | 8.40%                 | No            |                  2 | On Loan: No      |
| Vue Entertainment International Limited               | Vue Entertainment International Limited 2023 EUR Floating PIK Super Senior Term Loan    | CUSIP: 000000000<br>LEI: 9845009F4EIBBC5BB612 | Long             | LON              | CORP              | GB        |    103858 | PA      | $125714.96    | 0.10%             | 2027-06-30      | Floating      | 10.10%                | No            |                  2 | On Loan: No      |
| Boluda Towage SL                                      | Boluda Towage SL 2024 EUR Term Loan B                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | ES        |         0 | PA      | $0.00         | 0.00%             | 2030-01-31      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| Tech 7 SAS                                            | Tech 7 SAS EUR PIK Super Senior Term Loan                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | FR        |      7820 | PA      | $0.00         | 0.00%             | 2026-03-31      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| Summer (BC) Holdco B Sa rl                            | Summer (BC) Holdco B Sa rl 2024 EUR Term Loan                                           | CUSIP: 000000000<br>LEI: 213800CCW2O2WZ7YV169 | Long             | LON              | CORP              | US        |     67003 | PA      | $73669.02     | 0.06%             | 2029-01-31      | Floating      | 6.54%                 | No            |                  2 | On Loan: No      |
| Arvos HoldCo Sarl                                     | Arvos HoldCo Sarl 2024 USD HoldCo Term Loan B2                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | DE        |     48317 | PA      | $9985.59      | 0.01%             | 2027-08-29      | Fixed         | 0.50%                 | Yes           |                  2 | On Loan: No      |
| Arvos Holding GmbH                                    | Arvos Holding GmbH 2024 USD Opco Term Loan B4                                           | CUSIP: 000000000<br>LEI: 529900J81Q647PKOFM08 | Long             | LON              | CORP              | DE        |    268308 | PA      | $222247.95    | 0.17%             | 2027-08-29      | Floating      | 9.60%                 | No            |                  2 | On Loan: No      |
| TECH 7 SAS                                            | Tech 7 SAS EUR PIK Tranche 2 Note Term Loan                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | FR        |      5581 | PA      | $0.00         | 0.00%             | 2026-03-31      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| TECH 7 SAS                                            | Tech 7 SAS EUR PIK Tranche 3 Note Term Loan                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | FR        |      2777 | PA      | $0.00         | 0.00%             | 2026-03-31      | None          | 18.12%                | No            |                  3 | On Loan: No      |
| TECH 7 SAS                                            | Tech 7 SAS EUR Tranche 4 Term Loan                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | FR        |      3208 | PA      | $0.00         | 0.00%             | 2026-03-31      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| CommScope Inc                                         | CommScope Inc 2024 Term Loan                                                            | CUSIP: 000000000<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | LON              | CORP              | US        |    300000 | PA      | $300141.00    | 0.23%             | 2029-12-17      | Floating      | 8.47%                 | No            |                  2 | On Loan: No      |
| TMF Group Holding B.V.                                | TMF Group Holding BV 2025 EUR Term Loan B                                               | CUSIP: 000000000<br>LEI: 213800H27OKZZZ2CB779 | Long             | LON              | CORP              | NL        |    500000 | PA      | $593523.00    | 0.45%             | 2028-05-03      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| Casper BidCo SAS                                      | Casper BidCo SAS 2025 EUR Term Loan B                                                   | CUSIP: 000000000<br>LEI: 969500OUD0VB2606MD53 | Long             | LON              | CORP              | FR        |         0 | PA      | $0.00         | 0.00%             | 2031-03-21      | Floating      | 5.87%                 | No            |                  2 | On Loan: No      |
| United Petfood Finance BV                             | United Petfood Finance BV 2025 EUR Term Loan B                                          | CUSIP: 000000000<br>LEI: 984500FD3FH360C3C633 | Long             | LON              | CORP              | BE        |    500000 | PA      | $591589.80    | 0.45%             | 2032-02-26      | Floating      | 4.58%                 | No            |                  2 | On Loan: No      |
| Hurtigruten ASA                                       | Hurtigruten ASA 2025 EUR Term Loan B                                                    | CUSIP: 000000000<br>LEI: 213800EVBYLGF87O9I05 | Long             | LON              | CORP              | NO        |     65066 | PA      | $68819.29     | 0.05%             | 2030-08-12      | Floating      | 10.08%                | No            |                  2 | On Loan: No      |
| Ceva Sante Animale                                    | Ceva Sante Animale 2025 EUR Term Loan B                                                 | CUSIP: 000000000<br>LEI: 969500FG3VYTO80D0A13 | Long             | LON              | CORP              | FR        |    500000 | PA      | $592312.55    | 0.45%             | 2030-11-08      | Floating      | 5.02%                 | No            |                  2 | On Loan: No      |
| Hurtigruten ASA                                       | Hurtigruten ASA 2025 EUR Term Loan A                                                    | CUSIP: 000000000<br>LEI: 213800EVBYLGF87O9I05 | Long             | LON              | CORP              | NO        |    266326 | PA      | $319246.00    | 0.24%             | 2030-02-12      | Floating      | 9.58%                 | No            |                  2 | On Loan: No      |
| MasOrange Finco Plc                                   | MasOrange Finco Plc 2025 EUR Term Loan B                                                | CUSIP: 000000000<br>LEI: 549300PONZMYNJTH6970 | Long             | LON              | CORP              | GB        |    660000 | PA      | $776935.05    | 0.59%             | 2031-03-25      | Floating      | 4.63%                 | No            |                  2 | On Loan: No      |
| Tunstall Group Holdings Limited                       | Tunstall Group Holdings Limited 2025 EUR Incremental Super Senior Term Loan             | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | GB        |     38799 | PA      | $42541.18     | 0.03%             | 2026-12-18      | Floating      | 5.12%                 | Yes           |                  3 | On Loan: No      |
| Auris Luxembourg III Sarl                             | Auris Luxembourg III Sarl 2025 EUR Term Loan B                                          | CUSIP: 000000000<br>LEI: 213800VO63L2OE6QXG55 | Long             | LON              | CORP              | DK        |    500000 | PA      | $585396.49    | 0.44%             | 2029-02-28      | Floating      | 5.87%                 | No            |                  2 | On Loan: No      |
| BCP V Modular Services Holdings IV Limited            | BCP V Modular Services Holdings IV Limited 2025 EUR Term Loan                           | CUSIP: 000000000<br>LEI: 549300C6IE8LNURFZG55 | Long             | LON              | CORP              | GB        |         0 | PA      | $0.00         | 0.00%             | 2031-07-10      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Node AcquiCo GmbH                                     | Node AcquiCo GmbH EUR Term Loan                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | DE        |    500000 | PA      | $590479.23    | 0.45%             | 2032-12-08      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Techem Verwaltungsgesellschaft 675 mbH                | Techem Verwaltungsgesellschaft 675 mbH 2025 EUR Term Loan B                             | CUSIP: 000000000<br>LEI: 529900N0M7FQHNAV1A41 | Long             | LON              | CORP              | DE        |    500000 | PA      | $591501.66    | 0.45%             | 2032-07-15      | Floating      | 5.26%                 | No            |                  2 | On Loan: No      |
| Green Infrastructure Partners Inc                     | Green Infrastructure Partners Inc USD Term Loan B                                       | CUSIP: 000000000<br>LEI: 549300W1V7LSCKWMX505 | Long             | LON              | CORP              | CA        |    153029 | PA      | $153029.36    | 0.12%             | 2032-09-24      | Floating      | 6.42%                 | No            |                  2 | On Loan: No      |
| TRIO BIDCO INC                                        | Trio Bidco Inc 2025 Term Loan B                                                         | CUSIP: 000000000<br>LEI: 254900K9XN994FY4HJ57 | Long             | LON              | CORP              | US        |    230894 | PA      | $231279.45    | 0.18%             | 2032-10-29      | Floating      | 7.67%                 | No            |                  2 | On Loan: No      |
| TRIO BIDCO INC                                        | Trio Bidco Inc 2025 Delayed Draw Term Loan                                              | CUSIP: 000000000<br>LEI: 254900K9XN994FY4HJ57 | Long             | LON              | CORP              | US        |     24305 | PA      | $24345.21     | 0.02%             | 2032-10-29      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| TRIVIUM PACKAGING BV                                  | TRIVIUM PACKAGING BV EUR REPRICED TERM LOAN                                             | CUSIP: 000000000<br>LEI: 724500GMZWW3PVYET548 | Long             | LON              | CORP              | NL        |    700000 | PA      | $824523.84    | 0.63%             | 2030-05-28      | Floating      | 5.81%                 | No            |                  2 | On Loan: No      |
| MOTEL ONE GMBH                                        | MOTEL ONE GMBH EUR REPRICED TERM LOAN B                                                 | CUSIP: 000000000<br>LEI: 529900OZ5000U0NZHM90 | Long             | LON              | CORP              | DE        |    800000 | PA      | $946976.15    | 0.72%             | 2032-06-04      | Floating      | 5.66%                 | No            |                  2 | On Loan: No      |
| NIDDA HEALTHCARE HOLDING AG                           | NIDDA HEALTHCARE HOLDING AG 2025 EUR 1st LIEN TERM LOAN B                               | CUSIP: 000000000<br>LEI: 549300Q89C4WAO6L0L19 | Long             | LON              | CORP              | DE        |    500000 | PA      | $591149.10    | 0.45%             | 2032-12-09      | Floating      | 5.54%                 | No            |                  2 | On Loan: No      |
| BRADYPLUS HOLDINGS LLC                                | BRADYPLUS HOLDINGS LLC 2025 TERM LOAN B                                                 | CUSIP: 000000000<br>LEI: 254900LMURL5G873DV35 | Long             | LON              | CORP              | US        |    223928 | PA      | $221315.11    | 0.17%             | 2030-12-11      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| LERNEN BIDCO LIMITED                                  | Lernen Bidco Limited 2025 EUR Term Loan B3                                              | CUSIP: 000000000<br>LEI: 894500YKKF2CXAP6DR25 | Long             | LON              | CORP              | GB        |    500000 | PA      | $593699.28    | 0.45%             | 2029-04-25      | Floating      | 5.87%                 | No            |                  2 | On Loan: No      |
| CELLNEX TELECOM SA                                    | Cellnex Telecom SA                                                                      | CUSIP: 000000000<br>LEI: 5493008T4YG3AQUI7P67 | Long             | DBT              | CORP              | ES        |    200000 | PA      | $211611.08    | 0.16%             | 2031-11-20      | Fixed         | 0.75%                 | Yes           |                  2 | On Loan: No      |
| ANARAFE SLU                                           | Anarafe SL                                                                              | CUSIP: 000000000<br>LEI: 959800AW60HWZ3N4R995 | Long             | DBT              | CORP              | ES        |    110699 | PA      | $95873.21     | 0.07%             | 2026-12-31      | Fixed         | 14.78%                | Yes           |                  2 | On Loan: No      |
| Technicolor Creative Studios SA                       | Technicolor Creative Studios SA                                                         | CUSIP: 000000000<br>LEI: 54930064SP2SSEVKFJ48 | Long             | EC               | CORP              | FR        |       146 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| ATOS SE                                               | Atos SE                                                                                 | CUSIP: 000000000<br>LEI: 5493001EZOOA66PTBR68 | Long             | SN               | CORP              | FR        |    250000 | PA      | $289727.20    | 0.22%             | 2030-12-18      | Variable      | 5.20%                 | Yes           |                  2 | On Loan: No      |
| ATOS SE                                               | Atos SE                                                                                 | CUSIP: 000000000<br>LEI: 5493001EZOOA66PTBR68 | Long             | SN               | CORP              | FR        |    250000 | PA      | $336604.82    | 0.26%             | 2029-12-18      | Variable      | 9.36%                 | Yes           |                  2 | On Loan: No      |
| Balcan Innovations Inc                                | Balcan Innovations Inc Term Loan B                                                      | CUSIP: 000000000<br>LEI: 549300C2CLNRVCUDIH93 | Long             | LON              | CORP              | CA        |    464950 | PA      | $362660.92    | 0.27%             | 2031-10-18      | Floating      | 8.59%                 | No            |                  2 | On Loan: No      |
| Bausch & Lomb Corporation                             | Bausch & Lomb Corporation 2025 Term Loan B                                              | CUSIP: 000000000<br>LEI: 549300NY6OZM39SO6475 | Long             | LON              | CORP              | CA        |    111145 | PA      | $112144.83    | 0.09%             | 2031-01-15      | Floating      | 7.97%                 | No            |                  2 | On Loan: No      |
| BAUSCH + LOMB CORPORATION                             | BAUSCH + LOMB CORPORATION 2025 REPRICED TERM LOAN                                       | CUSIP: 000000000<br>LEI: 549300NY6OZM39SO6475 | Long             | LON              | CORP              | CA        |    161666 | PA      | $163120.74    | 0.12%             | 2031-01-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| FIRST QUANTUM MINERALS L                              | First Quantum Minerals Ltd                                                              | CUSIP: 000000000<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |    245000 | PA      | $257988.28    | 0.20%             | 2029-03-01      | Fixed         | 9.38%                 | Yes           |                  2 | On Loan: No      |
| FIRST QUANTUM MINERALS L                              | First Quantum Minerals Ltd                                                              | CUSIP: 000000000<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |    281000 | PA      | $295416.65    | 0.22%             | 2034-02-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Bausch Health Companies Inc                           | Bausch Health Companies Inc 2025 Term Loan B                                            | CUSIP: 000000000<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | LON              | CORP              | CA        |    373353 | PA      | $363881.25    | 0.28%             | 2030-10-08      | Floating      | 9.97%                 | No            |                  2 | On Loan: No      |
| Clarios Global LP                                     | Clarios Global LP 2025 USD Term Loan B                                                  | CUSIP: 000000000<br>LEI: 549300474L1ZLXZY2P98 | Long             | LON              | CORP              | US        |    278943 | PA      | $279988.99    | 0.21%             | 2032-01-28      | Floating      | 6.47%                 | No            |                  2 | On Loan: No      |
| WestJet Loyalty LP                                    | WestJet Loyalty LP Term Loan B                                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | CA        |    213688 | PA      | $214405.57    | 0.16%             | 2031-02-14      | Floating      | 6.92%                 | No            |                  2 | On Loan: No      |
| ELECTRICITE DE FRANCE SA                              | Electricite de France SA                                                                | CUSIP: 000000000<br>LEI: 549300X3UK4GG3FNMO06 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $232590.80    | 0.18%             | 2033-03-15      | Fixed         | 9.13%                 | Yes           |                  2 | On Loan: No      |
| State Street Global Advisors                          | State Street Navigator Securities Lending Government Money Market Portfolio             | CUSIP: 857509301<br>LEI: 5493008BJIBKQ5KTIF74 | Long             | STIV             | RF                | US        |   2585154 | NS      | $2585154.00   | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| DIG INTL FIN/DIFL US LLC                              | Digicel International Finance Ltd / Difl US LLC                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    200000 | PA      | $207489.44    | 0.16%             | 2032-08-01      | Fixed         | 8.63%                 | Yes           |                  2 | On Loan: No      |
| ENERGUATE TRUST 2 0                                   | Energuate Trust 2 0                                                                     | CUSIP: 000000000<br>LEI: 2549000ZL9MU01FZK194 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $199922.96    | 0.15%             | 2035-09-15      | Fixed         | 6.35%                 | Yes           |                  2 | On Loan: No      |
| Froneri Lux Finco Sarl                                | Froneri Lux Finco Sarl 2025 EUR Term Loan                                               | CUSIP: 000000000<br>LEI: 9845005YBZ75E5AA3B94 | Long             | LON              | CORP              | LU        |    500000 | PA      | $588751.69    | 0.45%             | 2032-09-30      | Floating      | 4.87%                 | No            |                  2 | On Loan: No      |
| GEOPARK LTD                                           | Geopark Ltd                                                                             | CUSIP: 000000000<br>LEI: 529900ZR5QI19AH4KZ07 | Long             | DBT              | CORP              | BM        |    200000 | PA      | $186564.02    | 0.14%             | 2030-01-31      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| Ineos Finance PLC                                     | Ineos Finance PLC 2024 EUR Term Loan B1                                                 | CUSIP: 000000000<br>LEI: 2138002D68XDR4LZCG32 | Long             | LON              | CORP              | GB        |    500000 | PA      | $480509.90    | 0.36%             | 2031-02-07      | Floating      | 5.15%                 | No            |                  2 | On Loan: No      |
| INEOS Quattro Holdings UK Ltd                         | INEOS Quattro Holdings UK Ltd 2023 USD 1st Lien Term Loan B                             | CUSIP: 000000000<br>LEI: 213800HKSMBSJQ32CA45 | Long             | LON              | CORP              | US        |    494962 | PA      | $346473.54    | 0.26%             | 2029-04-02      | Floating      | 8.07%                 | No            |                  2 | On Loan: No      |
| MGM CHINA HOLDINGS LTD                                | MGM China Holdings Ltd                                                                  | CUSIP: 000000000<br>LEI: 529900VZFN87OS7WJM66 | Long             | DBT              | CORP              | KY        |    300000 | PA      | $317515.93    | 0.24%             | 2031-06-26      | Fixed         | 7.13%                 | Yes           |                  2 | On Loan: No      |
| Virgin Media Bristol LLC                              | Virgin Media Bristol LLC 2023 USD Term Loan Y                                           | CUSIP: 000000000<br>LEI: 213800IQ982XX69LE276 | Long             | LON              | CORP              | US        |    700000 | PA      | $692601.00    | 0.53%             | 2031-03-31      | Floating      | 7.05%                 | No            |                  2 | On Loan: No      |
| WE SODA INV HOLDING PLC                               | WE Soda Investments Holding PLC                                                         | CUSIP: 000000000<br>LEI: 984500SE38C07DB47A90 | Long             | DBT              | CORP              | GB        |    306000 | PA      | $308650.72    | 0.23%             | 2028-10-06      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| WYNN MACAU LTD                                        | Wynn Macau Ltd                                                                          | CUSIP: 000000000<br>LEI: 254900NMDQ8ENTHU1I31 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $202573.86    | 0.15%             | 2034-02-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| VEDANTA RESOURCES                                     | Vedanta Resources Finance II PLC                                                        | CUSIP: 000000000<br>LEI: 8945002DGA3BBXO3N634 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $206849.80    | 0.16%             | 2033-04-24      | Fixed         | 9.85%                 | Yes           |                  2 | On Loan: No      |
| SAAVI ENERGIA SARL                                    | Saavi Energia Sarl                                                                      | CUSIP: 000000000<br>LEI: 254900A2V0IO8K56UH35 | Long             | DBT              | CORP              | LU        |    200000 | PA      | $216910.00    | 0.16%             | 2035-02-10      | Fixed         | 8.88%                 | Yes           |                  2 | On Loan: No      |
| Summer (BC) Holdco B S.a r.l                          | Summer (BC) Holdco B Sa rl 2024 EUR Term Loan B                                         | CUSIP: 000000000<br>LEI: 984500NRF59D5DB9B654 | Long             | LON              | CORP              | LU        |    432997 | PA      | $476071.91    | 0.36%             | 2029-01-31      | Floating      | 6.54%                 | No            |                  2 | On Loan: No      |
| Summer (BC) Holdco B Sa rl                            | Summer (BC) Holdco B Sa rl 2024 USD Term Loan B                                         | CUSIP: 000000000<br>LEI: 984500NRF59D5DB9B654 | Long             | LON              | CORP              | LU        |    379374 | PA      | $352343.93    | 0.27%             | 2029-02-15      | Floating      | 8.93%                 | No            |                  2 | On Loan: No      |
| Venga Finance Sarl                                    | Venga Finance Sarl 2025 USD Term Loan B                                                 | CUSIP: 000000000<br>LEI: 9845005B0E54C498F641 | Long             | LON              | CORP              | LU        |    292508 | PA      | $292946.26    | 0.22%             | 2029-06-28      | Floating      | 7.83%                 | No            |                  2 | On Loan: No      |
| Nouryon Finance BV                                    | Nouryon Finance BV 2024 USD Term Loan B1                                                | CUSIP: 000000000<br>LEI: 549300GD4NJGLPVYB245 | Long             | LON              | CORP              | NL        |    184609 | PA      | $184455.69    | 0.14%             | 2028-04-03      | Floating      | 7.04%                 | No            |                  2 | On Loan: No      |
| Ziggo BV                                              | Ziggo BV 2019 EUR Term Loan H                                                           | CUSIP: 000000000<br>LEI: 213800TQASLF9JXH5J59 | Long             | LON              | CORP              | NL        |    500000 | PA      | $583927.49    | 0.44%             | 2029-01-31      | Floating      | 4.94%                 | No            |                  2 | On Loan: No      |
| BANCO BBVA PERU SA                                    | Banco BBVA Peru SA                                                                      | CUSIP: 000000000<br>LEI: 549300H1JNU0HLNFU552 | Long             | DBT              | CORP              | PE        |    300000 | PA      | $310469.70    | 0.24%             | 2034-06-07      | Fixed         | 6.20%                 | Yes           |                  2 | On Loan: No      |
| SAMARCO MINERACAO SA                                  | Samarco Mineracao SA                                                                    | CUSIP: 000000000<br>LEI: 529900U8HKV15GJC4O60 | Long             | DBT              | CORP              | BR        |     87935 | PA      | $89074.20     | 0.07%             | 2031-06-30      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| TELECOM ARGENTINA SA                                  | Telecom Argentina SA                                                                    | CUSIP: 000000000<br>LEI: 549300MKPIRSJD8SB782 | Long             | DBT              | CORP              | AR        |    100000 | PA      | $104461.10    | 0.08%             | 2033-05-28      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| TRANSPORT DE GAS DEL SUR                              | Transportadora de Gas del Sur SA                                                        | CUSIP: 000000000<br>LEI: 5299002TRC7IFQYSW596 | Long             | DBT              | CORP              | AR        |    108000 | PA      | $112156.92    | 0.09%             | 2031-07-24      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| VTR COMUNICACIONES SPA                                | VTR Comunicaciones SpA                                                                  | CUSIP: 000000000<br>LEI: 213800XDZJKMC1AEUV94 | Long             | DBT              | CORP              | CL        |    200000 | PA      | $194021.76    | 0.15%             | 2029-04-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| YPF SOCIEDAD ANONIMA                                  | YPF SA                                                                                  | CUSIP: 000000000<br>LEI: 5493003N7447U18U5U53 | Long             | DBT              | CORP              | AR        |     30000 | PA      | $31119.84     | 0.02%             | 2029-06-27      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| YPF SOCIEDAD ANONIMA                                  | YPF SA                                                                                  | CUSIP: 000000000<br>LEI: 5493003N7447U18U5U53 | Long             | DBT              | CORP              | AR        |      9662 | PA      | $10067.45     | 0.01%             | 2029-06-30      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| YPF SOCIEDAD ANONIMA                                  | YPF SA                                                                                  | CUSIP: 000000000<br>LEI: 5493003N7447U18U5U53 | Long             | DBT              | CORP              | AR        |    100000 | PA      | $102196.20    | 0.08%             | 2034-01-17      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| Verisure Holding AB                                   | Verisure Holding AB 2025 EUR Term Loan B                                                | CUSIP: 000000000<br>LEI: 549300VQQCWGISM3N408 | Long             | LON              | CORP              | SE        |    600000 | PA      | $708962.90    | 0.54%             | 2032-11-03      | Floating      | 4.30%                 | No            |                  2 | On Loan: No      |
| GC TREASURY CENTRE CO                                 | GC Treasury Center Co Ltd                                                               | CUSIP: 000000000<br>LEI: 549300LUFQBC2EQNAR40 | Long             | DBT              | CORP              | TH        |    200000 | PA      | $203317.50    | 0.15%             | 2035-03-10      | Fixed         | 7.13%                 | Yes           |                  2 | On Loan: No      |
| MEDCO MAPLE TREE PTE LTD                              | Medco Maple Tree Pte Ltd                                                                | CUSIP: 000000000<br>LEI: 254900T5AQZNR0THA508 | Long             | DBT              | CORP              | SG        |    400000 | PA      | $417103.20    | 0.32%             | 2029-04-27      | Fixed         | 8.96%                 | Yes           |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-27

**Name of Applicant:** MassMutual Advantage Funds

**Signature:** Renee Hitchcock

**Name of Signer:** Renee Hitchcock

**Title:** CFO and Treasurer