# EDGAR Filing Document

**Accession Number:** 0001552947
**File Stem:** 0001752724-25-160495
**Filing Date:** 2025-6
**Character Count:** 100152
**Document Hash:** 1e6b3f165d335c600af52f1b686d555b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-160495.hdr.sgml**: 20250627

**ACCESSION NUMBER**: 0001752724-25-160495

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250627

**DATE AS OF CHANGE**: 20250626

**PERIOD START**: 20250430

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Two Roads Shared Trust
- **CENTRAL INDEX KEY:** 0001552947

**ORGANIZATION NAME:**
- **EIN:** 000000000

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22718
- **FILM NUMBER:** 251081786

**BUSINESS ADDRESS:**
- **STREET 1:** 225 PICTORIA DRIVE
- **STREET 2:** SUITE 450
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45246
- **BUSINESS PHONE:** 402-895-1600

**MAIL ADDRESS:**
- **STREET 1:** 225 PICTORIA DRIVE
- **STREET 2:** SUITE 450
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45246

## Series and Classes Contracts Data

### Holbrook Income Fund (Series ID: S000054226)

| Class ID   | Class Name                   | Ticker Symbol   |
|:---|:---|:---|
| C000170313 | Class I                      | HOBIX           |
| C000170314 | Investor Class               | HOBEX           |
| C000228717 | Holbrook Income Fund Class A |  |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Two Roads Shared Trust

- **b. Investment Company Act file number:** 811-22718

- **c. CIK number of Registrant:** 0001552947

- **d. LEI of Registrant:** 549300REHU8QC2CK4V30

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

  - **Street Address 1:** 225 PICTORIA DRIVE

  - **City:** CINCINNATI

  - **State:** OH

  - **Foreign country:** US

  - **Zip / Postal Code:** 45246

  - **Telephone number:** 402-895-1600

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

- **a. Name of Series:** Holbrook Income Fund

- **b. EDGAR series identifier (if any):** S000054226

- **c. LEI of Series:** 549300I4FYPC6WMGV713

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

- **a. Date of fiscal year-end:** 2025-04-30

- **b. Date as of which information is reported:** 2025-04-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $2212818130.04

**Total Liabilities:** $41990236.74

**Net Assets:** $2170827893.30

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 9752.03152400 | **1-Year:** 66670.40420000 | **5-Year:** 147375.22027400 | **10-Year:** 23779.57651100 | **30-Year:** 2163.55325400

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

- **3-Month:** 16002.98787600 | **1-Year:** 38504.92079500 | **5-Year:** 42245.52264200 | **10-Year:** 4994.02520600 | **30-Year:** 3605.42362400

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000170313 | 0.93%                | 0.18%                | 0.16%                |
| Class ID C000170314 | 0.89%                | 0.14%                | 0.22%                |
| Class ID C000228717 | 1.02%                | 0.15%                | 0.14%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $4421786.55              | $7971224.34                                |
| Month 2  | $8640546.70              | $-14765152.94                              |
| Month 3  | $10757724.02             | $-20263309.83                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Ammc Clo 15 Ltd/Corp                                                      | AMMC 2014-15A BR3       | CUSIP: 00175MBQ2<br>LEI: 549300D0GYBG49KJD582 | Long             | ABS-CBDO         | CORP              | KY        |   1125000 | PA      | $1125741.38   | 0.05%             | 2032-01-15      | Floating      | 6.17%                 | Yes           |                  2 | On Loan: No      |
| AMMC CLO XII Ltd.                                                         | AMMC 2013-12A DR        | CUSIP: 00176CAU5<br>LEI: 549300YZO1X7UK2OVY35 | Long             | ABS-CBDO         | CORP              | KY        |   3100000 | PA      | $3096047.50   | 0.14%             | 2030-11-10      | Floating      | 7.26%                 | Yes           |                  2 | On Loan: No      |
| ACRES Commercial Realty Corp                                              | ACR 5 3/4 08/15/26      | CUSIP: 00489QAA0<br>LEI: 549300RUJWPCMY4JFR46 | Long             | DBT              | CORP              | US        |  12456000 | PA      | $12219293.15  | 0.56%             | 2026-08-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Allegro CLO X Ltd.                                                        | ALLEG 2019-1A CRR       | CUSIP: 01750FAW6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    645000 | PA      | $642897.30    | 0.03%             | 2032-04-20      | Floating      | 6.32%                 | Yes           |                  2 | On Loan: No      |
| American National Group Inc.                                              | ANGINC 6 5/8 PERP       | CUSIP: 025676867<br>LEI: 549300RK5RZQ740FPL83 | Long             | EP               | CORP              | US        |    837945 | NS      | $21082696.20  | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| MidCap Financial Investment Corp                                          | MFIC 4 1/2 07/16/26     | CUSIP: 03761UAH9<br>LEI: 5493005P14I7WFB3FW47 | Long             | DBT              | CORP              | US        |   1935000 | PA      | $1898718.75   | 0.09%             | 2026-07-16      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Ares XXXVII Clo Limited                                                   | ARES 2015-4A CRR        | CUSIP: 04015NAU8<br>LEI: 635400YF4AHA6NB2CU53 | Long             | ABS-CBDO         | CORP              | KY        |   2500000 | PA      | $2493007.50   | 0.11%             | 2030-10-15      | Floating      | 7.01%                 | Yes           |                  2 | On Loan: No      |
| Ares Xlv Clo Ltd                                                          | ARES 2017-45A DR        | CUSIP: 04016QAL0<br>LEI: 549300VFCO6SQG8OL714 | Long             | ABS-CBDO         | CORP              | US        |    375000 | PA      | $372903.75    | 0.02%             | 2030-10-15      | Floating      | 6.36%                 | Yes           |                  2 | On Loan: No      |
| Ares XLVII CLO Ltd.                                                       | ARES 2018-47A C         | CUSIP: 04016VAG0<br>LEI: 5493001J0ZSE1Y09WE50 | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1494238.50   | 0.07%             | 2030-04-15      | Floating      | 6.27%                 | Yes           |                  2 | On Loan: No      |
| Ellington Financial Inc                                                   | AAIC 6                  | CUSIP: 041356809<br>LEI: 60GS1D1R1YY5G1W7IT74 | Long             | EP               | CORP              | US        |    208443 | NS      | $5023476.30   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Atlanticus Holdings Corp.                                                 | ATLC 9 1/4              | CUSIP: 04914Y409<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    237555 | NS      | $5981634.90   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Atlas Sr Ln Fd Vii Ltd                                                    | ATCLO 2016-7A CR        | CUSIP: 04941TAY6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   7000000 | PA      | $7013650.00   | 0.32%             | 2031-11-27      | Floating      | 7.08%                 | Yes           |                  2 | On Loan: No      |
| Atlas Senior Loan Fund XI Ltd                                             | ATCLO 2018-11A C        | CUSIP: 04941YAL3<br>LEI: 635400RPGP64VI1SZW03 | Long             | ABS-CBDO         | CORP              | KY        |   3275000 | PA      | $3270722.85   | 0.15%             | 2031-07-26      | Floating      | 6.49%                 | Yes           |                  2 | On Loan: No      |
| Atlas Senior Secured Loan Fund VIII Ltd/Llc                               | ATCLO 2017-8A C         | CUSIP: 04943AAG4<br>LEI: 2549008VGBH29LRDN709 | Long             | ABS-CBDO         | CORP              | KY        |   2095000 | PA      | $2098381.33   | 0.10%             | 2030-01-16      | Floating      | 7.07%                 | Yes           |                  2 | On Loan: No      |
| Atrium Xiii                                                               | ATRM 13A C              | CUSIP: 04966HAG1<br>LEI: 549300BF3YFW8EHN6F75 | Long             | ABS-CBDO         | CORP              | KY        |   1010000 | PA      | $1006402.38   | 0.05%             | 2030-11-21      | Floating      | 6.34%                 | Yes           |                  2 | On Loan: No      |
| BB-UBS Trust 2012-Show                                                    | BBUBS 2012-TFT A        | CUSIP: 05490AAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2268469 | PA      | $2187660.43   | 0.10%             | 2030-06-05      | Fixed         | 2.89%                 | Yes           |                  2 | On Loan: No      |
| B. Riley Financial Inc                                                    | RILY 5 1/2              | CUSIP: 05580M827<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     69029 | NS      | $962954.55    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| B. Riley Financial Inc                                                    | RILY 8 01/01/28         | CUSIP: 05580MAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  87753000 | PA      | $85997940.00  | 3.96%             | 2028-01-01      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| BPR TRUST 2021-WILL                                                       | BPR 2021-WILL A         | CUSIP: 05591VAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5485013 | PA      | $5434311.60   | 0.25%             | 2038-06-15      | Floating      | 6.19%                 | Yes           |                  2 | On Loan: No      |
| BX TRUST                                                                  | BX 2019-IMC E           | CUSIP: 05608BAN0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   9500000 | PA      | $9284791.75   | 0.43%             | 2034-04-15      | Floating      | 6.52%                 | Yes           |                  2 | On Loan: No      |
| Babcock & Wilcox Enterprises Inc.                                         | BW 8 1/8                | CUSIP: 05614L308<br>LEI: 5493006H661OZN2C0T54 | Long             | EP               | CORP              | US        |   2483435 | NS      | $46738246.70  | 2.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Babcock & Wilcox Enterprises Inc.                                         | BW 6 1/2                | CUSIP: 05614L506<br>LEI: 5493006H661OZN2C0T54 | Long             | EP               | CORP              | US        |   1622903 | NS      | $25658096.43  | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Babson CLO 2015-I LLC                                                     | BABSN 2015-IA DR        | CUSIP: 056162AU4<br>LEI: 549300QR3VQZ1T0JUI29 | Long             | ABS-CBDO         | CORP              | KY        |   4900000 | PA      | $4894541.40   | 0.23%             | 2031-01-20      | Floating      | 7.13%                 | Yes           |                  2 | On Loan: No      |
| Bain Capital Credit Clo 2018-2 Limited                                    | BCC 2018-2A CR          | CUSIP: 05682VAS4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | IE        |   7000000 | PA      | $6966414.00   | 0.32%             | 2031-07-19      | Floating      | 6.22%                 | Yes           |                  2 | On Loan: No      |
| Battalion CLO VIII Ltd.                                                   | BATLN 2015-8A BR2       | CUSIP: 07132ACG6<br>LEI: 549300WH2OE0BGHQQP83 | Long             | ABS-CBDO         | CORP              | KY        |   2260000 | PA      | $2266529.14   | 0.10%             | 2030-07-18      | Floating      | 6.53%                 | Yes           |                  2 | On Loan: No      |
| Battalion Clo Xii Ltd                                                     | BATLN 2018-12A DRR      | CUSIP: 07133RBC8<br>LEI: 549300JIE0P78OIZGS60 | Long             | ABS-CBDO         | CORP              | KY        |   8500000 | PA      | $8449000.00   | 0.39%             | 2031-05-17      | Floating      | 6.92%                 | Yes           |                  2 | On Loan: No      |
| Betony Clo Ltd.                                                           | BTNY2 2018-1A B         | CUSIP: 08763QAE2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    905000 | PA      | $902752.89    | 0.04%             | 2031-04-30      | Floating      | 6.39%                 | Yes           |                  2 | On Loan: No      |
| Blue Owl Technology Finance Corp.                                         | OTFINC 6.1 03/15/28     | CUSIP: 095924AA4<br>LEI: 254900G5EZJSOD3UKL16 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4962423.80   | 0.23%             | 2028-03-15      | Fixed         | 6.10%                 | Yes           |                  2 | On Loan: No      |
| Bluemountain CLO 2013-2 Ltd.                                              | BLUEM 2013-2A CR        | CUSIP: 09626YAU4<br>LEI: 549300KGXMRFX2DKIX03 | Long             | ABS-CBDO         | CORP              | KY        |   2337500 | PA      | $2336027.38   | 0.11%             | 2030-10-22      | Floating      | 6.48%                 | Yes           |                  2 | On Loan: No      |
| Bluemountain CLO 2015-3 Ltd.                                              | BLUEM 2015-3A CR        | CUSIP: 09628JAS0<br>LEI: 5493009UJ1T6R11V4458 | Long             | ABS-CBDO         | CORP              | KY        |   5000000 | PA      | $4978945.00   | 0.23%             | 2031-04-20      | Floating      | 7.13%                 | Yes           |                  2 | On Loan: No      |
| Bluemountain CLO 2015-4 Ltd.                                              | BLUEM 2015-4A CR        | CUSIP: 09628NAU6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2330000 | PA      | $2326873.14   | 0.11%             | 2030-04-20      | Floating      | 6.43%                 | Yes           |                  2 | On Loan: No      |
| BLUEMOUNTAIN CLO 2016-3 Ltd.                                              | BLUEM 2016-3A CR        | CUSIP: 09628VAS3<br>LEI: 549300EYIDIF4X8MHI21 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $999376.00    | 0.05%             | 2030-11-15      | Floating      | 6.78%                 | Yes           |                  2 | On Loan: No      |
| Bluemountain Fuji U.S. CLO I                                              | BLUEM 2017-2A B         | CUSIP: 09629EAG6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $998882.00    | 0.05%             | 2030-10-20      | Floating      | 6.68%                 | Yes           |                  2 | On Loan: No      |
| Bluemountain CLO Ltd.                                                     | BLUEM 2018-1A C         | CUSIP: 09629TAJ7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $249719.75    | 0.01%             | 2030-07-30      | Floating      | 6.59%                 | Yes           |                  2 | On Loan: No      |
| Bluemountain CLO 2018-3 LLC                                               | BLUEM 2018-2A C         | CUSIP: 09629VAG8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    480000 | PA      | $479446.56    | 0.02%             | 2031-08-15      | Floating      | 6.78%                 | Yes           |                  2 | On Loan: No      |
| Bluemountain CLO 2018-3 LTD/LLC                                           | BLUEM 2018-3A C         | CUSIP: 09630AAJ5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   5100000 | PA      | $5096822.70   | 0.23%             | 2030-10-25      | Floating      | 6.74%                 | Yes           |                  2 | On Loan: No      |
| Briggs & Stratton Corporation                                             | BGG 6 7/8 12/15/20      | CUSIP: 109043AG4<br>LEI: 549300OYTIWYSPR42284 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $9375.00      | 0.00%             | 2020-12-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Broadmark Realty Capital Inc                                              | BRMK 5 11/15/26         | CUSIP: 11135BAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1414337.18   | 0.07%             | 2026-11-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Cbam 2017-4 Limited                                                       | CBAM 2017-4A D          | CUSIP: 12481NAF9<br>LEI: 635400U9D8ZDLM1G7T76 | Long             | ABS-CBDO         | CORP              | KY        |  15000000 | PA      | $14948325.00  | 0.69%             | 2031-01-15      | Floating      | 7.12%                 | Yes           |                  2 | On Loan: No      |
| Cbam 2018-6 Ltd / Llc                                                     | CBAM 2018-6A B2R        | CUSIP: 12481XAU4<br>LEI: 254900FSYLEH1VUJJF28 | Long             | ABS-CBDO         | CORP              | KY        |    690000 | PA      | $690000.00    | 0.03%             | 2031-01-15      | Floating      | 6.62%                 | Yes           |                  2 | On Loan: No      |
| CIFC Funding 2013-IV Ltd                                                  | CIFC 2013-4A DR2        | CUSIP: 12549FCA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  10000000 | PA      | $9942590.00   | 0.46%             | 2031-04-27      | Floating      | 6.18%                 | Yes           |                  2 | On Loan: No      |
| CIFC Funding 2017-II, Ltd.                                                | CIFC 2017-2A CR         | CUSIP: 12550YAS3<br>LEI: 2549005S1LQJ8MBPXW05 | Long             | ABS-CBDO         | CORP              | KY        |   1350000 | PA      | $1348579.80   | 0.06%             | 2030-04-20      | Floating      | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Comm 2016 Cor1 Mgt                                                        | COMM 2016-COR1 B        | CUSIP: 12594MBE7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   7000000 | PA      | $6475220.50   | 0.30%             | 2049-10-10      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Canyon Capital CLO 2014-1 Ltd.                                            | CANYC 2014-1A BR        | CUSIP: 13875LAS7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    665000 | PA      | $663396.02    | 0.03%             | 2031-01-30      | Floating      | 6.34%                 | Yes           |                  2 | On Loan: No      |
| Canyon Clo 2016-1 Ltd.                                                    | CANYC 2018-1A B         | CUSIP: 13877BAC2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   5000000 | PA      | $4996475.00   | 0.23%             | 2031-07-15      | Floating      | 6.22%                 | Yes           |                  2 | On Loan: No      |
| Canyon CLO 2016-1 Ltd / Canyon CLO 2016-1 LLC                             | CANYC 2016-1A BR        | CUSIP: 13887PAM7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    290000 | PA      | $289933.88    | 0.01%             | 2031-07-15      | Floating      | 6.22%                 | Yes           |                  2 | On Loan: No      |
| Capital Southwest Corporation                                             | CSWC 3 3/8 10/01/26     | CUSIP: 140501AC1<br>LEI: 54930023YZ4YEJEDBO56 | Long             | DBT              | RF                | US        |   6110000 | PA      | $5917046.20   | 0.27%             | 2026-10-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Capital Southwest Corporation                                             | CSWC 5 1/8 11/15/29     | CUSIP: 140501AE7<br>LEI: 54930023YZ4YEJEDBO56 | Long             | DBT              | RF                | US        |  10000000 | PA      | $9363572.40   | 0.43%             | 2029-11-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Carbone CLO, Limited / Carbone CLO LLC                                    | CRBN 2017-1A B          | CUSIP: 141312AE8<br>LEI: 5493005I53NEC017LN87 | Long             | ABS-CBDO         | CORP              | KY        |    952000 | PA      | $948482.36    | 0.04%             | 2031-01-20      | Floating      | 6.33%                 | Yes           |                  2 | On Loan: No      |
| Carlyle Global Market Strategies Clo 2013-3 LLC                           | CGMS 2013-3A CR         | CUSIP: 14310GAW0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  18000000 | PA      | $17947933.20  | 0.83%             | 2030-10-15      | Floating      | 6.97%                 | Yes           |                  2 | On Loan: No      |
| Carlyle Global Market Strategies CLO 2014-3 Ltd.                          | CGMS 2014-5A CRR        | CUSIP: 14311AAY8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    750000 | PA      | $750222.00    | 0.03%             | 2031-07-15      | Floating      | 6.77%                 | Yes           |                  2 | On Loan: No      |
| CARLYLE US CLO 2018-2 LTD                                                 | CGMS 2018-2A B          | CUSIP: 14317PAE3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $249657.25    | 0.01%             | 2031-10-15      | Floating      | 6.57%                 | Yes           |                  2 | On Loan: No      |
| Catamaran CLO Ltd. 2014-1 Ltd.                                            | CRMN 2014-1A BR         | CUSIP: 14889DAQ1<br>LEI: 549300C8Q7ISEHHDRH76 | Long             | ABS-CBDO         | CORP              | KY        |   7176000 | PA      | $7201272.44   | 0.33%             | 2030-04-22      | Floating      | 6.69%                 | Yes           |                  2 | On Loan: No      |
| Charah Solutions Inc                                                      | CHRA 8 1/2              | CUSIP: 15957P204<br>LEI: 549300I6O29493834F54 | Long             | EP               | CORP              | US        |   2168902 | NS      | $45460185.92  | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Crescent Capital BDC, Inc.                                                | CCABDC 5                | CUSIP: 225655208<br>LEI: 549300VPIZMU6OEE0V68 | Long             | EP               | CORP              | US        |    797794 | NS      | $19817202.96  | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Cumulus Media New Holdings Inc                                            | CUMINT 6 3/4 07/01/26   | CUSIP: 23110AAA4<br>LEI: 5493001D9VBAVY1OKJ46 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $1950000.00   | 0.09%             | 2026-07-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Dakota Financial Llc                                                      | DAKFIN 5 09/30/26       | CUSIP: 23422TAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $962402.09    | 0.04%             | 2026-09-30      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Dryden 53 Clo Ltd                                                         | DRSLF 2017-53A C        | CUSIP: 26243EAC5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   5000000 | PA      | $4975500.00   | 0.23%             | 2031-01-15      | Floating      | 6.22%                 | Yes           |                  2 | On Loan: No      |
| Dryden 41 Senior Loan Fund LLC                                            | DRSLF 2015-41A CR       | CUSIP: 26244KAS5<br>LEI: 5493000CMI5L15ZSNM78 | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $497923.00    | 0.02%             | 2031-04-15      | Floating      | 6.27%                 | Yes           |                  2 | On Loan: No      |
| Dryden 50 Senior Loan Fund & LLC                                          | DRSLF 2017-49A CR       | CUSIP: 26244QAS2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1497736.50   | 0.07%             | 2030-07-18      | Floating      | 6.58%                 | Yes           |                  2 | On Loan: No      |
| DRYDEN 54 SENIOR LOAN FUND LLC                                            | DRSLF 2017-54A C        | CUSIP: 26244RAC5<br>LEI: 54930064P37IJ78XTR63 | Long             | ABS-CBDO         | CORP              | KY        |    355000 | PA      | $355006.75    | 0.02%             | 2029-10-19      | Floating      | 6.68%                 | Yes           |                  2 | On Loan: No      |
| Dryden Senior Loan Fnd                                                    | DRSLF 2018-55A C        | CUSIP: 26245MAJ0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1100000 | PA      | $1098297.20   | 0.05%             | 2031-04-15      | Floating      | 6.42%                 | Yes           |                  2 | On Loan: No      |
| Dryden 70 clo ltd/llc                                                     | DRSLF 2018-70A B        | CUSIP: 26252EAE9<br>LEI: 549300S32UW0TE4JM250 | Long             | ABS-CBDO         | CORP              | NL        |    280290 | PA      | $280210.40    | 0.01%             | 2032-01-16      | Floating      | 6.22%                 | Yes           |                  2 | On Loan: No      |
| Eagle Point Enhanced Income Trust                                         | EAGLPO Float 11/15/29   | CUSIP: 269806AA3<br>LEI: 254900X2NX42WZSOAZ97 | Long             | DBT              | CORP              | US        |  25000000 | PA      | $24546545.75  | 1.13%             | 2029-11-15      | Floating      | 8.82%                 | No            |                  2 | On Loan: No      |
| Eagle Point Defensive Income Trust                                        | EGPNTD Float 04/30/28   | CUSIP: 26982MAA6<br>LEI: 254900J2H3BOAUD0N649 | Long             | DBT              | CORP              | US        |  25000000 | PA      | $24998400.00  | 1.15%             | 2028-04-30      | Floating      | 8.08%                 | Yes           |                  2 | On Loan: No      |
| Eaton Vance CLO 2015-1 LLC                                                | EATON 2015-1A DR        | CUSIP: 27830KBA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1498221.00   | 0.07%             | 2030-01-20      | Floating      | 7.03%                 | Yes           |                  2 | On Loan: No      |
| Eaton Vance Clo 2014-1 Ltd                                                | EATON 2014-1RA C        | CUSIP: 27830TAG0<br>LEI: 549300FPTLP8I41O7F48 | Long             | ABS-CBDO         | CORP              | KY        |   2110000 | PA      | $2107632.58   | 0.10%             | 2030-07-15      | Floating      | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Elevation CLO 2018-10 Ltd.                                                | AWPT 2018-10A DR        | CUSIP: 28623CAS0<br>LEI: 5493005Q4N14IP6ASK07 | Long             | ABS-CBDO         | CORP              | KY        |   9000000 | PA      | $8932149.00   | 0.41%             | 2031-10-20      | Floating      | 6.67%                 | Yes           |                  2 | On Loan: No      |
| Ellington Clo Ii Llc                                                      | ECLO 2017-2A C          | CUSIP: 28852EAE9<br>LEI: 254900YE647HYXEP3N43 | Long             | ABS-CBDO         | CORP              | US        |   7914211 | PA      | $7941847.20   | 0.37%             | 2029-02-15      | Floating      | 7.48%                 | Yes           |                  2 | On Loan: No      |
| Ellington Clo I Limted                                                    | ECLO 2018-3A C          | CUSIP: 28852LAJ2<br>LEI: 254900V20GCNJI0I7591 | Long             | ABS-CBDO         | CORP              | KY        |   7000000 | PA      | $6997333.00   | 0.32%             | 2030-07-20      | Floating      | 6.78%                 | Yes           |                  2 | On Loan: No      |
| Equify Financial LLC                                                      | EQUIFY 9 1/2 04/30/30   | CUSIP: 29446PAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5000000.00   | 0.23%             | 2030-04-30      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| FMC GMSR ISSUER TRUST                                                     | FMMSR 2022-GT1 A        | CUSIP: 30259RAM7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2000000 | PA      | $2014855.20   | 0.09%             | 2027-04-25      | Fixed         | 6.19%                 | Yes           |                  2 | On Loan: No      |
| FS KKR Capital Corp                                                       | FSK 3 1/8 10/12/28      | CUSIP: 302635AK3<br>LEI: 549300TYRSI1T21B1360 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2706799.26   | 0.12%             | 2028-10-12      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| Fremf 2012 Kf01 Mortgage Trust                                            | FREMF 2016-K56 C        | CUSIP: 30289UAU6<br>LEI: N/A                  | Long             | ABS-O            | USGSE             | US        |   2100000 | PA      | $2077854.03   | 0.10%             | 2049-06-25      | Floating      | 4.09%                 | Yes           |                  2 | On Loan: No      |
| Fremf Mtg Tr 2016-K57                                                     | FREMF 2016-K57 C        | CUSIP: 30295DAJ1<br>LEI: N/A                  | Long             | ABS-O            | USGSE             | US        |   2000000 | PA      | $1976027.60   | 0.09%             | 2049-08-25      | Floating      | 4.05%                 | Yes           |                  2 | On Loan: No      |
| Fidus Investment Corporation                                              | FDUS 4 3/4 01/31/26     | CUSIP: 316500AB3<br>LEI: 549300836CRWCROFBC02 | Long             | DBT              | CORP              | US        |  29075000 | PA      | $28757007.60  | 1.32%             | 2026-01-31      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Fidus Investment Corporation                                              | FDUS 3 1/2 11/15/26     | CUSIP: 316500AC1<br>LEI: 549300836CRWCROFBC02 | Long             | DBT              | CORP              | US        |   9090000 | PA      | $8691986.81   | 0.40%             | 2026-11-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fidus Investment Corporation                                              | FDUS 6 3/4 03/19/30     | CUSIP: 316500AD9<br>LEI: 549300836CRWCROFBC02 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $9868960.50   | 0.45%             | 2030-03-19      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Finance of America Structured Securities Trust 2022-S3                    | FASST 2022-S3 A1        | CUSIP: 31739PAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  14352606 | PA      | $14261461.32  | 0.66%             | 2052-06-25      | Floating      | 2.00%                 | Yes           |                  2 | On Loan: No      |
| First American Funds Inc.                                                 | FRST AM-GV OB-X         | CUSIP: 31846V336<br>LEI: 549300J5J5SJCZ9IA369 | Long             | STIV             | RF                | US        | 143926506 | PA      | $143926505.83 | 6.63%             |  |  |  | No            |                  1 | On Loan: No      |
| First Help Financial LLC                                                  | FIHEFI 6 11/15/26       | CUSIP: 32050FAA6<br>LEI: 549300N8R7JO1WEZGT69 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1929011.44   | 0.09%             | 2026-11-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| First Maryland Capital I                                                  | MTB Float 01/15/27      | CUSIP: 320808AD0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1965726.38   | 0.09%             | 2027-01-15      | Floating      | 5.52%                 | No            |                  2 | On Loan: No      |
| First Maryland Capital II                                                 | MTB Float 02/01/27      | CUSIP: 32082CAC1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  18114000 | PA      | $17639334.59  | 0.81%             | 2027-02-01      | Floating      | 5.40%                 | No            |                  2 | On Loan: No      |
| 522 Funding Clo 2018-3(A) Ltd.                                            | MORGN 2018-3A CR        | CUSIP: 33835NAE1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $249714.50    | 0.01%             | 2031-10-20      | Floating      | 6.58%                 | Yes           |                  2 | On Loan: No      |
| FORTRESS CREDIT BSL VIII LTD                                              | FCBSL 2019-2A CR        | CUSIP: 34962DAU0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    290000 | PA      | $289053.73    | 0.01%             | 2032-10-20      | Floating      | 6.27%                 | Yes           |                  2 | On Loan: No      |
| Galaxy XXI CLO Ltd                                                        | GALXY 2015-21A DR       | CUSIP: 36320WAS5<br>LEI: 549300BW4412X0TZDD77 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $996614.00    | 0.05%             | 2031-04-20      | Floating      | 7.18%                 | Yes           |                  2 | On Loan: No      |
| Galaxy XXVIII Clo Ltd / Llc                                               | GALXY 2018-28A C        | CUSIP: 36321JAJ3<br>LEI: 549300QR0537E9AXFW42 | Long             | ABS-CBDO         | CORP              | KY        |    730000 | PA      | $729618.94    | 0.03%             | 2031-07-15      | Floating      | 6.47%                 | Yes           |                  2 | On Loan: No      |
| Gladstone Capital Corporation                                             | GLAD 5 1/8 01/31/26     | CUSIP: 376535AC4<br>LEI: 549300AWMOT9JR1SIJ74 | Long             | DBT              | CORP              | US        |  34384000 | PA      | $34373340.96  | 1.58%             | 2026-01-31      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Gladstone Investment Corporation                                          | GAIN 5                  | CUSIP: 376546800<br>LEI: 549300HFFTVIBC98Z362 | Long             | EP               | CORP              | US        |    997378 | NS      | $24934450.00  | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Great Elm Capital Corporation                                             | GECC 5 7/8              | CUSIP: 390320604<br>LEI: 549300JTA9ODXNIVFC33 | Long             | EP               | CORP              | US        |    667424 | NS      | $16812410.56  | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Greystone Sdof Pfd Equity LLC                                             | GRSDOF 6 3/4            | CUSIP: 39808B206<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    408000 | NS      | $9873600.00   | 0.45%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Greywolf CLO V Ltd.                                                       | GWOLF 2015-1A BR        | CUSIP: 39808PAQ9<br>LEI: 549300RJBZLY8V18YD77 | Long             | ABS-CBDO         | CORP              | KY        |   1175000 | PA      | $1173901.38   | 0.05%             | 2031-01-27      | Floating      | 6.54%                 | Yes           |                  2 | On Loan: No      |
| HRR FUNDING LLC                                                           | HRR 2021-1 B            | CUSIP: 40390PAB4<br>LEI: 549300VSTRU4XB27Q639 | Long             | ABS-O            | CORP              | US        |   2175080 | PA      | $1261546.39   | 0.06%             | 2036-12-20      | Fixed         | 9.00%                 | Yes           |                  3 | On Loan: No      |
| HC Government Realty Trust Inc.                                           | HCGRTI 7                | CUSIP: 40417L205<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    210500 | NS      | $3946875.00   | 0.18%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Hps Loan Management 3-2014 Ltd & Hps Loan Management 3-2014 Llc           | HLM 3A-2014 A2R         | CUSIP: 40436XAE7<br>LEI: 5493006ZY0SLETMEU160 | Long             | ABS-CBDO         | CORP              | KY        |    114269 | PA      | $114243.55    | 0.01%             | 2029-07-18      | Floating      | 6.23%                 | Yes           |                  2 | On Loan: No      |
| Hps Loan Management 3-2014 Ltd & Hps Loan Management 3-2014 Llc           | HLM 3A-2014 BR          | CUSIP: 40436XAG2<br>LEI: 5493006ZY0SLETMEU160 | Long             | ABS-CBDO         | CORP              | KY        |   2750000 | PA      | $2749054.00   | 0.13%             | 2029-07-18      | Floating      | 6.93%                 | Yes           |                  2 | On Loan: No      |
| HPS Loan Management 13-2018 Ltd.                                          | HLM 13A-18 CR           | CUSIP: 40437LAU6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    563000 | PA      | $562199.98    | 0.03%             | 2030-10-15      | Floating      | 6.41%                 | Yes           |                  2 | On Loan: No      |
| Halcyon Ln Advisors Fdg 2018-2 Ltd/Llc                                    | HLA 2018-2A B           | CUSIP: 40490AAG5<br>LEI: 549300OG6D5MQUG20S28 | Long             | ABS-CBDO         | CORP              | KY        |   8650000 | PA      | $8646514.05   | 0.40%             | 2031-01-22      | Floating      | 6.88%                 | Yes           |                  2 | On Loan: No      |
| HALCYON LOAN ADVISORS FUNDING 2017-2 LTD                                  | HLA 2017-2A B           | CUSIP: 40490BAE8<br>LEI: 549300IKIM3YK4H3N895 | Long             | ABS-CBDO         | CORP              | KY        |   3628000 | PA      | $3626860.81   | 0.17%             | 2030-01-17      | Floating      | 6.64%                 | Yes           |                  2 | On Loan: No      |
| Halcyon Loan Advisors Funding 2017-1 Ltd                                  | HLA 2017-1A BR          | CUSIP: 40538PAS0<br>LEI: 549300DR1B057AG4RV71 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1000003.00   | 0.05%             | 2029-06-25      | Floating      | 6.79%                 | Yes           |                  2 | On Loan: No      |
| Harbourview Clo VII Ltd.                                                  | HARV7 7RA B             | CUSIP: 41165TAE1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $500286.00    | 0.02%             | 2031-07-18      | Floating      | 6.23%                 | Yes           |                  2 | On Loan: No      |
| Horizon Technology Finance Corporation                                    | HRZN 4 7/8              | CUSIP: 44045A409<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    504151 | NS      | $12502944.80  | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| HPS LOAN MANAGEMENT 5-2015 LTD                                            | HLM 5A-2015 DR3         | CUSIP: 44331DAY5<br>LEI: 54930067MZ9NV8B3SZ80 | Long             | ABS-CBDO         | CORP              | KY        |   7350000 | PA      | $7328207.25   | 0.34%             | 2030-10-15      | Floating      | 7.26%                 | Yes           |                  2 | On Loan: No      |
| Hudson's Bay Simon JV Trust                                               | HBCT 2015-HB10 B10      | CUSIP: 44422PBW1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5520000 | PA      | $5440240.42   | 0.25%             | 2034-08-05      | Fixed         | 4.91%                 | Yes           |                  2 | On Loan: No      |
| IMPERIAL FUND MORTGAGE TRUST 2022-NQM7                                    | IMPRL 2022-NQM7 A1      | CUSIP: 452763AA3<br>LEI: 984500DDE091107DY398 | Long             | ABS-O            | CORP              | US        |   2114918 | PA      | $2127585.34   | 0.10%             | 2067-11-25      | Floating      | 7.37%                 | Yes           |                  2 | On Loan: No      |
| Investcorp CR Mgmt BDC Inc                                                | ICMB 4 7/8 04/01/26     | CUSIP: 46090RAA2<br>LEI: 549300ZRNRCSKPLGYQ55 | Long             | DBT              | CORP              | US        |  20190000 | PA      | $19658551.96  | 0.91%             | 2026-04-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Investco Llc                                                              | INVECO 5 1/8 08/13/26   | CUSIP: 46090UAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4000000 | PA      | $3857000.00   | 0.18%             | 2026-08-13      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| J P Morgan Chase Commercial Mortgage Securities Trust 2019-MFP            | JPMCC 2019-MFP D        | CUSIP: 46651MAL0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3224075 | PA      | $3187275.15   | 0.15%             | 2036-07-15      | Floating      | 6.03%                 | Yes           |                  2 | On Loan: No      |
| Jamestown Clo Limited                                                     | JTWN 2018-11A A2        | CUSIP: 47049QAC0<br>LEI: 549300ICXRO4NIJIWJ29 | Long             | ABS-CBDO         | CORP              | KY        |   2800000 | PA      | $2799896.40   | 0.13%             | 2031-07-14      | Floating      | 6.20%                 | Yes           |                  2 | On Loan: No      |
| JEFFERSON MILL CLO LTD                                                    | JEFFM 2015-1A CRR       | CUSIP: 47421MBN2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  12400000 | PA      | $12444082.00  | 0.57%             | 2031-10-20      | Floating      | 6.82%                 | No            |                  2 | On Loan: No      |
| KKR Financial CLO 2013-1 Ltd.                                             | KKR 2013-1A BR2         | CUSIP: 48249VBA8<br>LEI: 549300ZUUB37M3VWNC17 | Long             | ABS-CBDO         | CORP              | KY        |   3450000 | PA      | $3449306.55   | 0.16%             | 2029-04-15      | Floating      | 6.21%                 | Yes           |                  2 | On Loan: No      |
| Kuvare United States Holdings Inc                                         | KUVARE 7 02/17/51       | CUSIP: 50149XAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  43241000 | PA      | $43225459.18  | 1.99%             | 2051-02-17      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| LCM XV Limited Partnership                                                | LCM 15A CR              | CUSIP: 50184NAP7<br>LEI: 549300HV40B88JRNJD93 | Long             | ABS-CBDO         | CORP              | KY        |   7750000 | PA      | $7745528.25   | 0.36%             | 2030-07-20      | Floating      | 6.93%                 | Yes           |                  2 | On Loan: No      |
| Lcm Xxv Ltd/Lcm Xxv Llc                                                   | LCM 25A C2              | CUSIP: 50189PAN2<br>LEI: 549300FY8UGGJMQNCO13 | Long             | ABS-CBDO         | CORP              | KY        |   6021334 | PA      | $6018811.06   | 0.28%             | 2030-07-20      | Floating      | 6.83%                 | Yes           |                  2 | On Loan: No      |
| Lcm XVII LP                                                               | LCM 17A CRR             | CUSIP: 50190AAT9<br>LEI: 549300K6S4MWQOINB710 | Long             | ABS-CBDO         | CORP              | KY        |   4080000 | PA      | $4075352.88   | 0.19%             | 2031-10-15      | Floating      | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Lcm 30 Ltd / Lcm 30 Llc                                                   | LCM 30A CR              | CUSIP: 50200YAU2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3750000 | PA      | $3744206.25   | 0.17%             | 2031-04-20      | Floating      | 6.53%                 | Yes           |                  2 | On Loan: No      |
| Lcm XXIII Ltd/ Lcm XXIII Llc                                              | LCM 23A BR              | CUSIP: 52111PAK7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    854152 | PA      | $854296.75    | 0.04%             | 2029-10-20      | Floating      | 6.73%                 | Yes           |                  2 | On Loan: No      |
| Logan Ridge Finance Corporation                                           | LRFC 5 1/4 10/30/26     | CUSIP: 541098AB5<br>LEI: 5493007DZ22O2I4VJ124 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10054000.00  | 0.46%             | 2026-10-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Mp Clo Iii, Ltd                                                           | MP3 2013-1A DR          | CUSIP: 553205AJ4<br>LEI: 549300FWSFBNCWDD1P18 | Long             | ABS-CBDO         | CORP              | KY        |   3000000 | PA      | $2985219.00   | 0.14%             | 2030-10-20      | Floating      | 7.58%                 | Yes           |                  2 | On Loan: No      |
| MP CLO VII LLC                                                            | MP7 2015-1A CRR         | CUSIP: 55320RAL1<br>LEI: 5493005EOEZ6JX072G15 | Long             | ABS-CBDO         | CORP              | KY        |   3695000 | PA      | $3693932.15   | 0.17%             | 2028-10-18      | Floating      | 6.73%                 | Yes           |                  2 | On Loan: No      |
| MMP Capital LLC                                                           | MMPCAP 9 1/2 10/18/29   | CUSIP: 55330PAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4975000.00   | 0.23%             | 2029-10-18      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| Madison Park Funding XXIV Ltd                                             | MDPK 2016-24A CR2       | CUSIP: 55820NBA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    940000 | PA      | $937760.92    | 0.04%             | 2029-10-20      | Floating      | 6.32%                 | Yes           |                  2 | On Loan: No      |
| MADISON PARK FUNDING XL LTD                                               | ATRM 9A CR2             | CUSIP: 55821CAE4<br>LEI: 549300UTF8S11AHH4P70 | Long             | ABS-CBDO         | CORP              | KY        |   4655000 | PA      | $4654953.45   | 0.21%             | 2030-05-28      | Floating      | 6.57%                 | Yes           |                  2 | On Loan: No      |
| Main Street Capital Corp.                                                 | MAIN 6.95 03/01/29      | CUSIP: 56035LAH7<br>LEI: 5493001FS9QJLJNF3E20 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10243089.10  | 0.47%             | 2029-03-01      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| Main Street Capital Corp.                                                 | MAIN 6 1/2 06/04/27     | CUSIP: 56035LAJ3<br>LEI: 5493001FS9QJLJNF3E20 | Long             | DBT              | CORP              | US        |  14413000 | PA      | $14649045.02  | 0.67%             | 2027-06-04      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Medallion Financial Corp.                                                 | MFIN 7 1/2 12/30/27     | CUSIP: 583928AE6<br>LEI: 549300FJ4FMGJ2C34Y48 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1933751.00   | 0.09%             | 2027-12-30      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Medallion Financial Corp.                                                 | MFIN 7 1/4 02/26/26     | CUSIP: 583928AG1<br>LEI: 549300FJ4FMGJ2C34Y48 | Long             | DBT              | CORP              | US        |   3250000 | PA      | $3198955.50   | 0.15%             | 2026-02-26      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Midocean Credit CLO IX                                                    | MIDO 2018-9A B          | CUSIP: 59802MAE7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    855000 | PA      | $854979.48    | 0.04%             | 2031-07-20      | Floating      | 6.28%                 | Yes           |                  2 | On Loan: No      |
| MidOcean Credit CLO III/MidOcean Credit CLO III LLC                       | MIDO 2014-3A BR         | CUSIP: 59802UAN9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    525238 | PA      | $524980.57    | 0.02%             | 2031-04-21      | Floating      | 6.33%                 | Yes           |                  2 | On Loan: No      |
| MidOcean Credit CLO III/MidOcean Credit CLO III LLC                       | MIDO 2014-3A CR         | CUSIP: 59802UAQ2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2050000 | PA      | $2052562.50   | 0.09%             | 2031-04-21      | Floating      | 6.53%                 | Yes           |                  2 | On Loan: No      |
| Midocean Credit CLO II / LLC                                              | MIDO 2013-2A DR         | CUSIP: 59863KAQ0<br>LEI: 549300EKSLXKVD2RWW61 | Long             | ABS-CBDO         | CORP              | KY        |   6000000 | PA      | $5994432.00   | 0.28%             | 2030-01-29      | Floating      | 7.29%                 | Yes           |                  2 | On Loan: No      |
| Monroe                                                                    | MRCC 4 3/4 02/15/26     | CUSIP: 610335AB7<br>LEI: 549300RZ898DGFGWKV04 | Long             | DBT              | RF                | US        |  31543000 | PA      | $31115507.18  | 1.43%             | 2026-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY CAPITAL I TRUST 2024-BPR2                                  | MSC 2024-BPR2 A         | CUSIP: 61776EAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  12351120 | PA      | $12958641.99  | 0.60%             | 2029-05-05      | Fixed         | 7.29%                 | Yes           |                  2 | On Loan: No      |
| MORGAN STANLEY CAPITAL I TRUST 2024-BPR2                                  | MSC 2024-BPR2 B         | CUSIP: 61776EAE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  17620000 | PA      | $18553833.57  | 0.85%             | 2029-05-05      | Fixed         | 8.54%                 | Yes           |                  2 | On Loan: No      |
| MORGAN STANLEY CAPITAL I TRUST 2024-BPR2                                  | MSC 2024-BPR2 C         | CUSIP: 61776EAG8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1600000 | PA      | $1649800.64   | 0.08%             | 2029-05-05      | Floating      | 9.04%                 | Yes           |                  2 | On Loan: No      |
| Mountain View CLO IX Ltd.                                                 | MVEW 2017-2A C          | CUSIP: 62432LAE1<br>LEI: 549300URXZ1TS31FK720 | Long             | ABS-CBDO         | CORP              | KY        |    700000 | PA      | $698722.50    | 0.03%             | 2031-01-16      | Floating      | 6.42%                 | Yes           |                  2 | On Loan: No      |
| National Funding Inc                                                      | NATLFD 5 3/4 08/31/26   | CUSIP: 636190AA8<br>LEI: 254900M755T2IVN0F977 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $3821213.08   | 0.18%             | 2026-08-31      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| New Mountain Finance Corporation                                          | NMFC 6.2 10/15/27       | CUSIP: 647551AG5<br>LEI: 549300L1MPTT1H7SES77 | Long             | DBT              | CORP              | US        |  15000000 | PA      | $14989500.15  | 0.69%             | 2027-10-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| New Residential Mtg LLC / Nrz Fnt Excess LLC                              | NZES 2020-FNT1 A        | CUSIP: 64830YAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1299421 | PA      | $1297170.22   | 0.06%             | 2025-06-25      | Fixed         | 5.44%                 | Yes           |                  2 | On Loan: No      |
| New Residential Mtg LLC / Nrz Fnt Excess LLC                              | NZES 2020-FNT2 A        | CUSIP: 64830YAB3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    649995 | PA      | $648511.76    | 0.03%             | 2025-07-25      | Fixed         | 5.44%                 | Yes           |                  2 | On Loan: No      |
| NewtekOne Inc                                                             | NEWT 8 3/8 04/01/30     | CUSIP: 652526AE4<br>LEI: 549300YLU78IA8GKJ688 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4998178.00   | 0.23%             | 2030-04-01      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| NexBank Capital, Inc.                                                     | NEXBAN FLOAT PERP       | CUSIP: 65341T305<br>LEI: 549300H29S945S4X7A03 | Long             | EP               | CORP              | US        |     36000 | PA      | $35820000.00  | 1.65%             |  |  |  | No            |                  2 | On Loan: No      |
| Nexpoint Real Estate Finance Inc                                          | NREF 5 3/4 05/01/26     | CUSIP: 65342VAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  15000000 | PA      | $14576042.55  | 0.67%             | 2026-05-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Northwoods Capital Ltd                                                    | WOODS 2018-12BA CR      | CUSIP: 66858CAS6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  12350000 | PA      | $12229501.05  | 0.56%             | 2031-06-15      | Floating      | 6.35%                 | No            |                  2 | On Loan: No      |
| OCP CLO 2014-5 Ltd.                                                       | OCP 2014-5A BR          | CUSIP: 67102SAQ7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    505000 | PA      | $503727.40    | 0.02%             | 2031-04-26      | Floating      | 6.34%                 | Yes           |                  2 | On Loan: No      |
| OFS Cap Corp                                                              | OFS 4 3/4 02/10/26      | CUSIP: 67103BAA8<br>LEI: 549300XTK3HSWPDBJD13 | Long             | DBT              | RF                | US        |  20270000 | PA      | $19779453.43  | 0.91%             | 2026-02-10      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| OCP CLO 2014-7 Ltd.                                                       | OCP 2014-7A B1RR        | CUSIP: 67107KBD7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1499986.50   | 0.07%             | 2029-07-20      | Floating      | 6.78%                 | Yes           |                  2 | On Loan: No      |
| Ozlm Vi                                                                   | OZLM 2014-6A B1T        | CUSIP: 67108LBP7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1095000 | PA      | $1095243.09   | 0.05%             | 2031-04-17      | Floating      | 6.28%                 | Yes           |                  2 | On Loan: No      |
| Ozlm Vi                                                                   | OZLM 2014-6A CT         | CUSIP: 67108LBR3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  16470000 | PA      | $16445097.36  | 0.76%             | 2031-04-17      | Floating      | 7.18%                 | Yes           |                  2 | On Loan: No      |
| Ozlm Ltd                                                                  | OZLM 2018-22A C         | CUSIP: 67111VAJ5<br>LEI: 549300SDDOLWC85Q9Q65 | Long             | ABS-CBDO         | CORP              | KY        |   1952000 | PA      | $1944629.25   | 0.09%             | 2031-01-17      | Floating      | 7.19%                 | Yes           |                  2 | On Loan: No      |
| Ozlm Xviii Limited                                                        | OZLM 2018-18A C         | CUSIP: 67112GAE8<br>LEI: 5493002SZMQH8ZTTHX49 | Long             | ABS-CBDO         | CORP              | US        |   1275000 | PA      | $1274665.95   | 0.06%             | 2031-04-15      | Floating      | 6.37%                 | Yes           |                  2 | On Loan: No      |
| Ozlm Xxi.. Ltd                                                            | OZLM 2018-20A B         | CUSIP: 67112MAE5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   3755000 | PA      | $3751361.41   | 0.17%             | 2031-04-20      | Floating      | 6.48%                 | Yes           |                  2 | On Loan: No      |
| Ows Cre Funding I LLC                                                     | OWSCRE 2021-MARG A      | CUSIP: 67114QAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  29071501 | PA      | $28983992.49  | 1.34%             | 2025-09-15      | Floating      | 9.86%                 | Yes           |                  2 | On Loan: No      |
| Octagon Investment Partners XXII Ltd.                                     | OCT22 2014-1A CRR       | CUSIP: 67572YBU5<br>LEI: 549300MQ9W5DWZ8QX450 | Long             | ABS-CBDO         | CORP              | KY        |   1250000 | PA      | $1246885.00   | 0.06%             | 2030-01-22      | Floating      | 6.43%                 | Yes           |                  2 | On Loan: No      |
| Octagon Investment Partners XIV Ltd / Octagon Investment Partners XIV LLC | OCT14 2012-1A BRR       | CUSIP: 67590ABV3<br>LEI: 549300QEN35HTPJ3BX33 | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $500345.00    | 0.02%             | 2029-07-15      | Floating      | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Octagon Investment Partners XV Ltd./ Octagon Investment Partners XV LLC   | OCT15 2013-1A CRR       | CUSIP: 67590EBL7<br>LEI: 549300VYCI9AZ4NZBX86 | Long             | ABS-CBDO         | CORP              | KY        |   1585000 | PA      | $1580417.77   | 0.07%             | 2030-07-19      | Floating      | 6.53%                 | Yes           |                  2 | On Loan: No      |
| Octagon Investment Partners Ltd                                           | OCT26 2016-1A CR        | CUSIP: 67590YAS9<br>LEI: 549300ZYOSZSIH0Y3392 | Long             | ABS-CBDO         | CORP              | KY        |   2500000 | PA      | $2493100.00   | 0.11%             | 2030-07-15      | Floating      | 6.32%                 | Yes           |                  2 | On Loan: No      |
| Blue Owl Technology Finance Corp.                                         | OTFINC 3 3/4 06/17/26   | CUSIP: 691205AE8<br>LEI: 254900G5EZJSOD3UKL16 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2926914.39   | 0.13%             | 2026-06-17      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| PDOF Msn Issuer LLC                                                       | PDOFMS FLOAT 03/01/25   | CUSIP: 69429PAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4989266 | PA      | $4882925.75   | 0.22%             | 2026-03-01      | Floating      | 8.86%                 | Yes           |                  2 | On Loan: No      |
| PAGAYA AI DEBT TRUST 2024-2                                               | PAID 2024-2 A           | CUSIP: 694961AA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    369108 | PA      | $372605.13    | 0.02%             | 2031-08-15      | Fixed         | 6.32%                 | Yes           |                  2 | On Loan: No      |
| PAGAYA AI DEBT TRUST 2024-3                                               | PAID 2024-3 A           | CUSIP: 69547XAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    403151 | PA      | $406748.03    | 0.02%             | 2031-10-15      | Fixed         | 6.26%                 | Yes           |                  2 | On Loan: No      |
| PennantPark Investment Corporation                                        | PNNT 4 1/2 05/01/26     | CUSIP: 708062AC8<br>LEI: 529900OK432R4C6NQQ73 | Long             | DBT              | CORP              | US        |  31064000 | PA      | $30240513.86  | 1.39%             | 2026-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PennantPark Investment Corporation                                        | PNNT 4 11/01/26         | CUSIP: 708062AD6<br>LEI: 529900OK432R4C6NQQ73 | Long             | DBT              | CORP              | US        |  32813000 | PA      | $31473826.00  | 1.45%             | 2026-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Pennantpark Floating Rate Capital Ltd.                                    | PFLT 4 1/4 04/01/26     | CUSIP: 70806AAA4<br>LEI: 529900BH3IP6381K4L72 | Long             | DBT              | RF                | US        |  38965000 | PA      | $37869221.20  | 1.74%             | 2026-04-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| PennyMac Mortgage Investment Trust                                        | PMT 8 1/2               | CUSIP: 70931T608<br>LEI: 549300BSSOQO1ZWDUJ97 | Long             | EP               | CORP              | US        |    231989 | NS      | $5876281.37   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Portman Ridge Finance Corporation                                         | PTMN 4 7/8 04/30/26     | CUSIP: 73688FAC6<br>LEI: 254900YM5BVQKA01I468 | Long             | DBT              | CORP              | US        |  38500000 | PA      | $37528622.29  | 1.73%             | 2026-04-30      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| RAD CLO 4 LTD                                                             | RAD 2019-4A DR          | CUSIP: 749984AG5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   6700000 | PA      | $6695631.60   | 0.31%             | 2032-04-25      | Floating      | 7.53%                 | Yes           |                  2 | On Loan: No      |
| READY CAPITAL MORTGAGE FINANCING 2023-FL11 LLC                            | RCMT 2023-FL11 A        | CUSIP: 75575RAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   2374286 | PA      | $2378017.91   | 0.11%             | 2039-10-25      | Floating      | 6.70%                 | Yes           |                  2 | On Loan: No      |
| ReadyCap Holdings LLC                                                     | RDYCAP 9 3/8 03/01/28   | CUSIP: 755763AE9<br>LEI: 549300W908MAGNC9E420 | Long             | DBT              | CORP              | US        |  50238000 | PA      | $50073309.79  | 2.31%             | 2028-03-01      | Fixed         | 9.38%                 | Yes           |                  2 | On Loan: No      |
| Regatta Funding Limited/Corp                                              | REG13 2018-2A CR        | CUSIP: 75888FAS4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  16515000 | PA      | $16478369.73  | 0.76%             | 2031-07-15      | Floating      | 6.96%                 | Yes           |                  2 | On Loan: No      |
| REGATTA XIV FUNDING LTD                                                   | REG14 2018-3A DR        | CUSIP: 75888MAR1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1425000 | PA      | $1420368.75   | 0.07%             | 2031-10-25      | Floating      | 7.08%                 | Yes           |                  2 | On Loan: No      |
| Regents Capital Corporation                                               | REGCAP 6 12/28/26       | CUSIP: 75902UAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1925820.12   | 0.09%             | 2026-12-28      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Sachem Capital Corp                                                       | SACH 6                  | CUSIP: 78590A604<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    303563 | NS      | $6456785.01   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Saranac CLO VII Ltd.                                                      | SRANC 2014-2A CR        | CUSIP: 80317EAJ8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |   4000000 | PA      | $3998832.00   | 0.18%             | 2029-11-20      | Floating      | 6.83%                 | Yes           |                  2 | On Loan: No      |
| Saratoga Investment Corp.                                                 | SAR 6                   | CUSIP: 80349A802<br>LEI: 54930023WJCWPAGSWE41 | Long             | EP               | CORP              | US        |    971809 | NS      | $23974528.03  | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Saratoga Investment Corp.                                                 | SAR 4 3/8 02/28/26      | CUSIP: 80349AAD1<br>LEI: 54930023WJCWPAGSWE41 | Long             | DBT              | CORP              | US        |  38719000 | PA      | $37886341.32  | 1.75%             | 2026-02-28      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Saratoga Investment Corp.                                                 | SAR 4.35 02/28/27       | CUSIP: 80349AAF6<br>LEI: 54930023WJCWPAGSWE41 | Long             | DBT              | CORP              | US        |  12512000 | PA      | $11765819.73  | 0.54%             | 2027-02-28      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| Shackleton 2014-V-R Clo Ltd / Llc                                         | SHACK 2014-5RA C        | CUSIP: 81881JAG7<br>LEI: 549300OM5GJJFIKCOZ48 | Long             | ABS-CBDO         | CORP              | KY        |   2750000 | PA      | $2753536.50   | 0.13%             | 2031-05-07      | Floating      | 6.71%                 | Yes           |                  2 | On Loan: No      |
| Shackleton 2013-Iii Clo Ltd                                               | SHACK 2013-3A CR        | CUSIP: 81881QAW6<br>LEI: 549300S9WB2KLCOJR134 | Long             | ABS-CBDO         | CORP              | KY        |   5000000 | PA      | $5013716.00   | 0.23%             | 2030-07-15      | Floating      | 6.47%                 | Yes           |                  2 | On Loan: No      |
| Shenergy Co Ltd.                                                          | SHACK 2013-4RA B        | CUSIP: 81882HAE5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | CN        |   1555000 | PA      | $1551089.18   | 0.07%             | 2031-04-13      | Floating      | 6.40%                 | Yes           |                  2 | On Loan: No      |
| Sound Point CLO V Limited                                                 | SNDPT 2014-1RA B        | CUSIP: 83607EAC6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1000012.00   | 0.05%             | 2031-07-18      | Floating      | 6.28%                 | Yes           |                  2 | On Loan: No      |
| Sound Point CLO V Limited                                                 | SNDPT 2014-1RA C        | CUSIP: 83607EAE2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  10500000 | PA      | $10493437.50  | 0.48%             | 2031-07-18      | Floating      | 6.63%                 | Yes           |                  2 | On Loan: No      |
| Sound Point CLO II Ltd.                                                   | SNDPT 2013-1A A3R       | CUSIP: 83608GAS5<br>LEI: 549300Q00FJ0WHHYC788 | Long             | ABS-CBDO         | CORP              | KY        |   5500000 | PA      | $5489968.00   | 0.25%             | 2031-01-26      | Floating      | 6.39%                 | Yes           |                  2 | On Loan: No      |
| Sound Point Clo Ix  Ltd                                                   | SNDPT 2015-2A CRRR      | CUSIP: 83609GBS3<br>LEI: 549300W2FX6HEXN27U70 | Long             | ABS-CBDO         | CORP              | KY        |  10000000 | PA      | $9990340.00   | 0.46%             | 2032-07-20      | Floating      | 7.03%                 | Yes           |                  2 | On Loan: No      |
| SOUND POINT CLO XV LTD                                                    | SNDPT 2017-1A D         | CUSIP: 83609RAG6<br>LEI: 549300YVZ0M0XDDYS744 | Long             | ABS-CBDO         | CORP              | KY        |  13971744 | PA      | $13961363.33  | 0.64%             | 2029-01-23      | Floating      | 8.14%                 | Yes           |                  2 | On Loan: No      |
| Sound Point CLO XI Ltd                                                    | SNDPT 2013-3RA C        | CUSIP: 83609YAG1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   8440000 | PA      | $8434708.12   | 0.39%             | 2031-04-18      | Floating      | 6.78%                 | Yes           |                  2 | On Loan: No      |
| SOUND POINT CLO VII-R                                                     | SNDPT 2014-3RA C        | CUSIP: 83610HAG5<br>LEI: 549300IYECLSB6ZQZB89 | Long             | ABS-CBDO         | CORP              | KY        |   2500000 | PA      | $2498487.50   | 0.12%             | 2031-10-23      | Floating      | 6.79%                 | Yes           |                  2 | On Loan: No      |
| Sound Point  Clo Xvi Limited                                              | SNDPT 2017-2A CR        | CUSIP: 83610KAN3<br>LEI: 549300ZK5CJ7PM7YBH85 | Long             | ABS-CBDO         | CORP              | KY        |   2890000 | PA      | $2888849.78   | 0.13%             | 2030-07-25      | Floating      | 6.74%                 | Yes           |                  2 | On Loan: No      |
| Sound Point Clo XXII Ltd.                                                 | SNDPT 2019-1A CRR       | CUSIP: 83611KBA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  20000000 | PA      | $19951140.00  | 0.92%             | 2032-01-20      | Floating      | 6.32%                 | Yes           |                  2 | On Loan: No      |
| Sound Point Clo III Inc.                                                  | SNDPT 2013-2RA D        | CUSIP: 83611LAG5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3915010 | PA      | $3912382.90   | 0.18%             | 2029-04-15      | Floating      | 7.47%                 | Yes           |                  2 | On Loan: No      |
| Sound Pt Clo Xxi Ltd / Llc                                                | SNDPT 2018-3A B         | CUSIP: 83613HAG2<br>LEI: 5493001O6AOY43J70E72 | Long             | ABS-CBDO         | CORP              | KY        |   3000000 | PA      | $3012164.70   | 0.14%             | 2031-10-26      | Floating      | 6.74%                 | Yes           |                  2 | On Loan: No      |
| Steele Creek Clo 2016 1 Ltd                                               | STCR 2016-1A CR         | CUSIP: 858102AZ9<br>LEI: 5493003PZ3HX9NW9PS65 | Long             | ABS-CBDO         | CORP              | IE        |    250000 | PA      | $249280.75    | 0.01%             | 2031-06-15      | Floating      | 6.46%                 | Yes           |                  2 | On Loan: No      |
| Steel Partners Holdings L.P.                                              | SPLP 6                  | CUSIP: 85814R206<br>LEI: 5493009U8Z59G5SIZ389 | Long             | EP               | CORP              | US        |    876566 | NS      | $21142771.92  | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Steele Creek Clo 2017 1 Ltd                                               | STCR 2017-1A C          | CUSIP: 85816VAC0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1425000 | PA      | $1424666.55   | 0.07%             | 2030-10-15      | Floating      | 6.42%                 | Yes           |                  2 | On Loan: No      |
| Steele Creek CLO 2014-1 Ltd./LLC                                          | STCR 2014-1RA C         | CUSIP: 85816WAG9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1480000 | PA      | $1479477.56   | 0.07%             | 2031-04-21      | Floating      | 6.48%                 | Yes           |                  2 | On Loan: No      |
| Stellus Capital Investment Corporation                                    | SCM 7 1/4 04/01/30      | CUSIP: 858568AC2<br>LEI: 5493001DZV6QC1KUSC43 | Long             | DBT              | RF                | US        |  10000000 | PA      | $9981172.80   | 0.46%             | 2030-04-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Symphony Clo XV LLC                                                       | SYMP 2014-15A CR3       | CUSIP: 87154EBL3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    480000 | PA      | $479679.36    | 0.02%             | 2032-01-17      | Floating      | 6.89%                 | Yes           |                  2 | On Loan: No      |
| Symphony CLO XVI Ltd.                                                     | SYMP 2015-16A C1RR      | CUSIP: 87165VBB4<br>LEI: 5493004PWOYFPAFQVT02 | Long             | ABS-CBDO         | CORP              | KY        |   3505000 | PA      | $3499567.25   | 0.16%             | 2031-10-15      | Floating      | 6.46%                 | Yes           |                  2 | On Loan: No      |
| Symphony Clo XIX                                                          | SYMP 2018-19A D         | CUSIP: 87165YAJ2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1250000 | PA      | $1243498.75   | 0.06%             | 2031-04-16      | Floating      | 7.07%                 | Yes           |                  2 | On Loan: No      |
| Tci-Symphony Clo 2017-1 Ltd                                               | TSYMP 2017-1A CR        | CUSIP: 87232BAK8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2662000 | PA      | $2655270.46   | 0.12%             | 2030-07-15      | Floating      | 6.32%                 | Yes           |                  2 | On Loan: No      |
| Thl Credit Wr 2014-3K Clo Ltd                                             | WINDR 2014-3KRA C       | CUSIP: 88390BAG3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  10800000 | PA      | $10827831.60  | 0.50%             | 2030-10-15      | Floating      | 6.82%                 | Yes           |                  2 | On Loan: No      |
| Wind River 2015-1 CLO Ltd.                                                | WINDR 2015-1A C1        | CUSIP: 88432FBC2<br>LEI: 549300H4V7OE3OL7II20 | Long             | ABS-CBDO         | CORP              | KY        |    750000 | PA      | $749581.50    | 0.03%             | 2030-10-20      | Floating      | 6.68%                 | Yes           |                  2 | On Loan: No      |
| Wind River 2015-1 CLO Ltd.                                                | WINDR 2015-1A DR        | CUSIP: 88432FBG3<br>LEI: 549300H4V7OE3OL7II20 | Long             | ABS-CBDO         | CORP              | KY        |   6000000 | PA      | $6012715.80   | 0.28%             | 2030-10-20      | Floating      | 7.53%                 | Yes           |                  2 | On Loan: No      |
| Tiaa CLO IV Ltd / Tiaa CLO IV LLC                                         | TIA 2018-1A BR          | CUSIP: 88631YAS6<br>LEI: 5493000Q4E256SBMCY29 | Long             | ABS-CBDO         | CORP              | KY        |   1895000 | PA      | $1889222.15   | 0.09%             | 2032-01-20      | Floating      | 6.42%                 | Yes           |                  2 | On Loan: No      |
| Trinity Capital Inc.                                                      | TRIN 4 3/8 08/24/26     | CUSIP: 896442AG5<br>LEI: 549300YGT4SBRQYDVU48 | Long             | DBT              | CORP              | US        |  26423000 | PA      | $25795000.60  | 1.19%             | 2026-08-24      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Trinity Capital Inc.                                                      | TRIN 4 1/4 12/15/26     | CUSIP: 896442AH3<br>LEI: 549300YGT4SBRQYDVU48 | Long             | DBT              | CORP              | US        |  19837000 | PA      | $18797709.22  | 0.87%             | 2026-12-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Uirc-Gsa International, Llc                                               | UIRCIN 6 PERP           | CUSIP: 90278W303<br>LEI: N/A                  | Long             | EP               | CORP              | US        |      9180 | NS      | $8262000.00   | 0.38%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Uirc-Gsa International, Llc                                               | UIRCIN 6 1/2 PERP       | CUSIP: 90278W402<br>LEI: N/A                  | Long             | EP               | CORP              | US        |      3950 | NS      | $3476000.00   | 0.16%             |  |  |  | Yes           |                  1 | On Loan: No      |
| American Coastal Insurance Corp.                                          | UIHC 6 1/4 12/15/27     | CUSIP: 910710AA0<br>LEI: 5299002P9105LJQA8G51 | Long             | DBT              | CORP              | US        |  10800000 | PA      | $10206000.00  | 0.47%             | 2027-12-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                              | TII 3 7/8 04/15/29      | CUSIP: 912810FH6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  25000000 | PA      | $53377322.31  | 2.46%             | 2029-04-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                              | TII 2 1/2 01/15/29      | CUSIP: 912810PZ5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  35000000 | PA      | $54421342.29  | 2.51%             | 2029-01-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                              | TII 0 1/4 07/15/29      | CUSIP: 9128287D6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  50000000 | PA      | $59942042.49  | 2.76%             | 2029-07-15      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                              | TII 1 5/8 10/15/29      | CUSIP: 91282CLV1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  25000000 | PA      | $25741618.34  | 1.19%             | 2029-10-15      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| Venture XIII CLO Ltd.                                                     | VENTR 2013-13A CR       | CUSIP: 92329NAS9<br>LEI: 549300ZVVNSDW7WU0O73 | Long             | ABS-CBDO         | CORP              | KY        |   3000000 | PA      | $2998605.00   | 0.14%             | 2029-09-10      | Floating      | 6.86%                 | Yes           |                  2 | On Loan: No      |
| Venture XIII CLO Ltd.                                                     | VENTR 2013-13A DR       | CUSIP: 92329NAU4<br>LEI: 549300ZVVNSDW7WU0O73 | Long             | ABS-CBDO         | CORP              | KY        |   4000000 | PA      | $3999724.00   | 0.18%             | 2029-09-10      | Floating      | 7.86%                 | Yes           |                  2 | On Loan: No      |
| Venture XXVIII CLO Ltd                                                    | VENTR 2017-28A C2R      | CUSIP: 92331ABE3<br>LEI: 54930010DKR017G3JK24 | Long             | ABS-CBDO         | CORP              | KY        |   3500000 | PA      | $3512101.25   | 0.16%             | 2030-07-20      | Floating      | 6.73%                 | Yes           |                  2 | On Loan: No      |
| VENTURE XXX CLO LTD                                                       | VENTR 2017-30A C        | CUSIP: 92331NAG1<br>LEI: 5493001R7OPCYBM5NH78 | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1497708.00   | 0.07%             | 2031-01-15      | Floating      | 6.47%                 | Yes           |                  2 | On Loan: No      |
| VERUS SECURITIZATION TRUST 2023-5                                         | VERUS 2023-5 A1         | CUSIP: 924934AA0<br>LEI: 984500BADC7CFE3B0756 | Long             | ABS-O            | CORP              | US        |    446741 | PA      | $449963.93    | 0.02%             | 2068-06-25      | Floating      | 6.48%                 | Yes           |                  2 | On Loan: No      |
| VERUS SECURITIZATION TRUST 2023-1                                         | VERUS 2023-1 A1         | CUSIP: 92539BAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    339056 | PA      | $338816.03    | 0.02%             | 2067-12-25      | Floating      | 5.85%                 | Yes           |                  2 | On Loan: No      |
| VERUS SECURITIZATION TRUST 2023-3                                         | VERUS 2023-3 A2         | CUSIP: 92539GAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    155878 | PA      | $156420.09    | 0.01%             | 2068-03-25      | Floating      | 6.44%                 | Yes           |                  2 | On Loan: No      |
| Vinebrook Homes Trust Inc                                                 | VINBRK 6 1/2            | CUSIP: 92737L209<br>LEI: 5493007VIZSKYNAKUH78 | Long             | EP               | CORP              | US        |    124000 | NS      | $2790000.00   | 0.13%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Voya CLO 2014-2 Ltd.                                                      | VOYA 2014-2A BRR        | CUSIP: 92912VBE4<br>LEI: 549300L8S87K3SMP0R77 | Long             | ABS-CBDO         | CORP              | KY        |   3355000 | PA      | $3352107.99   | 0.15%             | 2030-04-17      | Floating      | 6.64%                 | Yes           |                  2 | On Loan: No      |
| Voya Clo 2015-1 Ltd                                                       | VOYA 2015-1A BR         | CUSIP: 92914NAN1<br>LEI: 54930085W413OSH6FR69 | Long             | ABS-CBDO         | CORP              | KY        |    171313 | PA      | $171363.35    | 0.01%             | 2029-01-18      | Floating      | 6.23%                 | Yes           |                  2 | On Loan: No      |
| Voya Clo 2015-1 Ltd                                                       | VOYA 2015-1A CR         | CUSIP: 92914NAQ4<br>LEI: 54930085W413OSH6FR69 | Long             | ABS-CBDO         | CORP              | KY        |   2740000 | PA      | $2736399.64   | 0.13%             | 2029-01-18      | Floating      | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Voya CLO 2014-4 Ltd                                                       | VOYA 2014-4A BR2        | CUSIP: 92914RBC5<br>LEI: 549300JHU3YI1LLL3V27 | Long             | ABS-CBDO         | CORP              | KY        |   4700000 | PA      | $4695958.00   | 0.22%             | 2031-07-14      | Floating      | 6.59%                 | Yes           |                  2 | On Loan: No      |
| Voya Clo 2016-3 Ltd.                                                      | VOYA 2016-3A BR2        | CUSIP: 92915HBC6<br>LEI: 549300001G5S0D8B8343 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $249593.00    | 0.01%             | 2031-10-18      | Floating      | 6.52%                 | Yes           |                  2 | On Loan: No      |
| Voya CLO 2013-1 Ltd / Voya CLO 2013-1 LLC                                 | INGIM 2013-1A BR        | CUSIP: 92917CAL6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2500000 | PA      | $2497955.00   | 0.12%             | 2030-10-15      | Floating      | 6.42%                 | Yes           |                  2 | On Loan: No      |
| Voya CLO 2018-3 LLC                                                       | VOYA 2018-3A CR2        | CUSIP: 92917KAW4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    950000 | PA      | $948438.20    | 0.04%             | 2031-10-15      | Floating      | 6.61%                 | Yes           |                  2 | On Loan: No      |
| W & T Offshore Inc.                                                       | WTI 10 3/4 02/01/29     | CUSIP: 92922PAN6<br>LEI: 549300Q7EOY2YIO3YK85 | Long             | DBT              | CORP              | US        |  15430000 | PA      | $12181241.27  | 0.56%             | 2029-02-01      | Fixed         | 10.75%                | Yes           |                  2 | On Loan: No      |
| Whitehorse Finance Inc.                                                   | WHF 4 12/15/26          | CUSIP: 96524VAB2<br>LEI: 5493006LP9COIV2ZIB05 | Long             | DBT              | RF                | US        |   4000000 | PA      | $3853109.96   | 0.18%             | 2026-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Wind River 2019-3 Clo Ltd / Llc                                           | WINDR 2019-3A CR2       | CUSIP: 97314JAN5<br>LEI: 549300QKM4OHZM4I5C40 | Long             | ABS-CBDO         | CORP              | KY        |    785000 | PA      | $777723.84    | 0.04%             | 2031-04-15      | Floating      | 6.26%                 | Yes           |                  2 | On Loan: No      |
| XCAL 2019-IL-1 MORTGAGE TRUST                                             | XCAL 2019-1 A           | CUSIP: 98370LAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1328038 | PA      | $458844.39    | 0.02%             | 2025-12-31      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| X-Caliber Funding Llc                                                     | XCALFD 5 09/01/24       | CUSIP: 98373XAC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3000000 | PA      | $2965921.80   | 0.14%             | 2025-10-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| X-Caliber Funding Llc                                                     | XCALFD 5 03/01/25       | CUSIP: 98373XAX8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2000000 | PA      | $1994089.20   | 0.09%             | 2026-03-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| X-Caliber Funding Llc                                                     | XCAL 2023-MF9 A         | CUSIP: 98373XBD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2868852 | PA      | $2865712.79   | 0.13%             | 2025-06-30      | Floating      | 7.58%                 | Yes           |                  2 | On Loan: No      |
| X-Caliber Funding Llc                                                     | XCAL 2024-MSD A         | CUSIP: 98373XBW9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4000000 | PA      | $4006484.00   | 0.18%             | 2027-01-01      | Floating      | 8.57%                 | Yes           |                  2 | On Loan: No      |
| X-CALI 2020-5 MORTGAGE TRUST                                              | XCALI 2020-5 A          | CUSIP: 98401JAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1873572 | PA      | $1870295.41   | 0.09%             | 2025-12-31      | Floating      | 7.69%                 | Yes           |                  2 | On Loan: No      |
| Z CAPITAL CREDIT PARTNERS CLO 2018-1 LTD                                  | ZCCP 2018-1A B          | CUSIP: 98878CAG1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   7000000 | PA      | $7017430.00   | 0.32%             | 2031-01-16      | Floating      | 6.97%                 | Yes           |                  2 | On Loan: No      |
| Zais Clo 3 Ltd/Llc                                                        | ZCLO3 2015-3A BR        | CUSIP: 98887HAN4<br>LEI: 549300SYHU0CNKIXQ691 | Long             | ABS-CBDO         | CORP              | KY        |   2075000 | PA      | $2083041.66   | 0.10%             | 2031-07-15      | Floating      | 7.17%                 | Yes           |                  2 | On Loan: No      |
| ZAIS CLO 7 LTD                                                            | ZAIS7 2017-2A C         | CUSIP: 98887VAE3<br>LEI: 549300XFDOUEB0QTZS87 | Long             | ABS-CBDO         | CORP              | KY        |  12400000 | PA      | $12421724.80  | 0.57%             | 2030-04-15      | Floating      | 6.97%                 | Yes           |                  2 | On Loan: No      |
| ZAIS CLO 11 LIMITED                                                       | ZAIS 2018-11A CR        | CUSIP: 98887YAS6<br>LEI: 549300FPW2E2MXLOFH93 | Long             | ABS-CBDO         | CORP              | KY        |   8825000 | PA      | $8849514.09   | 0.41%             | 2032-01-20      | Floating      | 6.72%                 | Yes           |                  2 | On Loan: No      |
| Zais Matrix CDO I                                                         | ZAIS 2020-14A DR2       | CUSIP: 98888BBQ8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   5000000 | PA      | $4989175.00   | 0.23%             | 2032-04-15      | Floating      | 7.56%                 | No            |                  2 | On Loan: No      |
| Shelf Drilling North Sea Holdings Ltd.                                    | SHLFNS 9 7/8 11/22/28   | CUSIP: G23639AB6<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |  14900000 | PA      | $13931500.00  | 0.64%             | 2028-11-22      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| N/A                                                                       | B. RILEY FIN 7R WARRANT | CUSIP: N/A<br>LEI: N/A                        | Long             | DO               | CORP              | US        |    351012 | NS      | $110393.27    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| SpecialTransportHolding                                                   | SpecialTransportHolding | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      3242 | NS      | $9659929.37   | 0.44%             |  |  |  | No            |                  3 | On Loan: No      |
| Synchronoss First Ln TL                                                   | Synchronoss First Ln TL | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |  25000000 | PA      | $24500000.00  | 1.13%             | 2029-04-24      | Variable      | 0.04%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-05-28

**Name of Applicant:** Two Roads Shared Trust

**Signature:** Laura Szalyga

**Name of Signer:** Laura Szalyga

**Title:** Treasurer