# EDGAR Filing Document

**Accession Number:** 0000910068
**File Stem:** 0000940400-26-008672
**Filing Date:** 2026-2
**Character Count:** 271542
**Document Hash:** f4becb9654504bc28fd229cb74ee95bc
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-008672.hdr.sgml**: 20260226

**ACCESSION NUMBER**: 0000940400-26-008672

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260226

**DATE AS OF CHANGE**: 20260226

**PERIOD START**: 20260930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** WESTERN ASSET HIGH INCOME OPPORTUNITY FUND INC.
- **CENTRAL INDEX KEY:** 0000910068

**ORGANIZATION NAME:**
- **EIN:** 133735236
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07920
- **FILM NUMBER:** 26687475

**BUSINESS ADDRESS:**
- **STREET 1:** 620 EIGHTH AVENUE
- **STREET 2:** 47TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10018
- **BUSINESS PHONE:** 888-777-0102

**MAIL ADDRESS:**
- **STREET 1:** 620 EIGHTH AVENUE
- **STREET 2:** 47TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10018

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** HIGH INCOME OPPORTUNITY FUND INC
- **DATE OF NAME CHANGE:** 19941230

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SMITH BARNEY HIGH INCOME OPPORTUNITY FUND INC
- **DATE OF NAME CHANGE:** 19930913

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SMITH BARNEY HIGH INCOME FUND INC
- **DATE OF NAME CHANGE:** 19930802

## Nport-Ex

Schedule of Investments (unaudited)

December 31, 2025

 **Western Asset High Income Opportunity Fund Inc.**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity <br>Date<br>| Face <br>Amount†<br>| Value |
| **Corporate Bonds & Notes — 82.0%** | **Corporate Bonds & Notes — 82.0%** | **Corporate Bonds & Notes — 82.0%** | **Corporate Bonds & Notes — 82.0%** | **Corporate Bonds & Notes — 82.0%** |
| **Communication Services — 15.2%** | **Communication Services — 15.2%** | **Communication Services — 15.2%** | **Communication Services — 15.2%** | **Communication Services — 15.2%** |
| *Diversified Telecommunication Services — 2.5%* | *Diversified Telecommunication Services — 2.5%* | *Diversified Telecommunication Services — 2.5%* | *Diversified Telecommunication Services — 2.5%* | *Diversified Telecommunication Services — 2.5%* |
| &nbsp;&nbsp;&nbsp; Altice Financing SA, Senior Secured Notes | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 1/15/28 | &nbsp;&nbsp; 2540000<br>| &nbsp;&nbsp;&nbsp; $1780692<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Altice Financing SA, Senior Secured Notes | &nbsp;&nbsp; 5.750% | &nbsp;&nbsp; 8/15/29 | &nbsp;&nbsp; 3200000<br>| &nbsp;&nbsp;&nbsp; 2222255<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Altice France Lux 3/Altice Holdings 1, Senior Notes | &nbsp;&nbsp; 10.000% | &nbsp;&nbsp; 1/15/33 | &nbsp;&nbsp; 968077<br>| &nbsp;&nbsp;&nbsp; 889061<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Altice France SA, Senior Secured Notes | &nbsp;&nbsp; 9.500% | &nbsp;&nbsp; 11/1/29 | &nbsp;&nbsp; 40000<br>| &nbsp;&nbsp;&nbsp; 41324<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Altice France SA, Senior Secured Notes | &nbsp;&nbsp; 6.500% | &nbsp;&nbsp; 4/15/32 | &nbsp;&nbsp; 577575<br>| &nbsp;&nbsp;&nbsp; 554060<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Altice France SA, Senior Secured Notes | &nbsp;&nbsp; 6.875% | &nbsp;&nbsp; 7/15/32 | &nbsp;&nbsp; 1455489<br>| &nbsp;&nbsp;&nbsp; 1396686<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Level 3 Financing Inc., Senior Notes | &nbsp;&nbsp; 8.500% | &nbsp;&nbsp; 1/15/36 | &nbsp;&nbsp; 770000<br>| &nbsp;&nbsp;&nbsp; 789510<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Level 3 Financing Inc., Senior Secured Notes | &nbsp;&nbsp; 6.875% | &nbsp;&nbsp; 6/30/33 | &nbsp;&nbsp; 430000<br>| &nbsp;&nbsp;&nbsp; 440362<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; WULF Compute LLC, Senior Secured Notes | &nbsp;&nbsp; 7.750% | &nbsp;&nbsp; 10/15/30 | &nbsp;&nbsp; 1370000<br>| &nbsp;&nbsp;&nbsp; 1412482<br> <sup>(a)</sup><br>|
| *Total Diversified Telecommunication Services* | *Total Diversified Telecommunication Services* | *Total Diversified Telecommunication Services* | *Total Diversified Telecommunication Services* | &nbsp;&nbsp; *9526432* |
| *Entertainment — 0.4%* | *Entertainment — 0.4%* | *Entertainment — 0.4%* | *Entertainment — 0.4%* | *Entertainment — 0.4%* |
| &nbsp;&nbsp;&nbsp; Warnermedia Holdings Inc., Senior Notes | &nbsp;&nbsp; 5.050% | &nbsp;&nbsp; 3/15/42 | &nbsp;&nbsp; 2520000<br>| &nbsp;&nbsp;&nbsp; *1779750*<br>|
| *Media — 8.6%* | *Media — 8.6%* | *Media — 8.6%* | *Media — 8.6%* | *Media — 8.6%* |
| &nbsp;&nbsp;&nbsp; AMC Networks Inc., Senior Secured Notes | &nbsp;&nbsp; 10.250% | &nbsp;&nbsp; 1/15/29 | &nbsp;&nbsp; 700000<br>| &nbsp;&nbsp;&nbsp; 734504<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; CCO Holdings LLC/CCO Holdings Capital Corp., Senior Notes | &nbsp;&nbsp; 4.500% | &nbsp;&nbsp; 5/1/32 | &nbsp;&nbsp; 1360000<br>| &nbsp;&nbsp;&nbsp; 1221528<br>|
| &nbsp;&nbsp;&nbsp; CCO Holdings LLC/CCO Holdings Capital Corp., Senior Notes | &nbsp;&nbsp; 4.250% | &nbsp;&nbsp; 1/15/34 | &nbsp;&nbsp; 4810000<br>| &nbsp;&nbsp;&nbsp; 4094389<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Charter Communications Operating LLC/Charter Communications <br> Operating Capital Corp., Senior Secured Notes | &nbsp;&nbsp; 3.850% | &nbsp;&nbsp; 4/1/61 | &nbsp;&nbsp; 8520000<br>| &nbsp;&nbsp;&nbsp; 5084586<br>|
| &nbsp;&nbsp;&nbsp; Clear Channel Outdoor Holdings Inc., Senior Secured Notes | &nbsp;&nbsp; 7.125% | &nbsp;&nbsp; 2/15/31 | &nbsp;&nbsp; 840000<br>| &nbsp;&nbsp;&nbsp; 882578<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; DirecTV Financing LLC, Senior Secured Notes | &nbsp;&nbsp; 8.875% | &nbsp;&nbsp; 2/1/30 | &nbsp;&nbsp; 450000<br>| &nbsp;&nbsp;&nbsp; 455870<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; DirecTV Financing LLC/DirecTV Financing Co-Obligor Inc., Senior <br> Secured Notes | &nbsp;&nbsp; 10.000% | &nbsp;&nbsp; 2/15/31 | &nbsp;&nbsp; 1450000<br>| &nbsp;&nbsp;&nbsp; 1482773<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; DISH DBS Corp., Senior Notes | &nbsp;&nbsp; 5.125% | &nbsp;&nbsp; 6/1/29 | &nbsp;&nbsp; 2768000<br>| &nbsp;&nbsp;&nbsp; 2459061<br>|
| &nbsp;&nbsp;&nbsp; DISH Network Corp., Senior Secured Notes | &nbsp;&nbsp; 11.750% | &nbsp;&nbsp; 11/15/27 | &nbsp;&nbsp; 1200000<br>| &nbsp;&nbsp;&nbsp; 1249662<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; EchoStar Corp., Senior Secured Notes | &nbsp;&nbsp; 10.750% | &nbsp;&nbsp; 11/30/29 | &nbsp;&nbsp; 3795850<br>| &nbsp;&nbsp;&nbsp; 4200416<br>|
| &nbsp;&nbsp;&nbsp; EchoStar Corp., Senior Secured Notes (6.750% Cash or 6.750% PIK) | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 11/30/30 | &nbsp;&nbsp; 2111367<br>| &nbsp;&nbsp;&nbsp; 2165668<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; Getty Images Inc., Senior Secured Notes | &nbsp;&nbsp; 11.250% | &nbsp;&nbsp; 2/21/30 | &nbsp;&nbsp; 120000<br>| &nbsp;&nbsp;&nbsp; 112626<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Getty Images Inc., Senior Secured Notes | &nbsp;&nbsp; 10.500% | &nbsp;&nbsp; 11/15/30 | &nbsp;&nbsp; 610000<br>| &nbsp;&nbsp;&nbsp; 615504<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Gray Media Inc., Secured Notes | &nbsp;&nbsp; 9.625% | &nbsp;&nbsp; 7/15/32 | &nbsp;&nbsp; 1230000<br>| &nbsp;&nbsp;&nbsp; 1277384<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; iHeartCommunications Inc., Senior Secured Notes | &nbsp;&nbsp; 9.125% | &nbsp;&nbsp; 5/1/29 | &nbsp;&nbsp; 760000<br>| &nbsp;&nbsp;&nbsp; 732579<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Univision Communications Inc., Senior Secured Notes | &nbsp;&nbsp; 9.375% | &nbsp;&nbsp; 8/1/32 | &nbsp;&nbsp; 1250000<br>| &nbsp;&nbsp;&nbsp; 1344410<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Versant Media Group Inc., Senior Secured Notes | &nbsp;&nbsp; 7.250% | &nbsp;&nbsp; 1/30/31 | &nbsp;&nbsp; 720000<br>| &nbsp;&nbsp;&nbsp; 743223<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Virgin Media Vendor Financing Notes III DAC, Senior Secured Notes | &nbsp;&nbsp; 4.875% | &nbsp;&nbsp; 7/15/28 | &nbsp;&nbsp; 2000000 <br><sup>GBP</sup><br>| &nbsp;&nbsp;&nbsp; 2635113<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; VZ Secured Financing BV, Senior Secured Notes | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 1/15/32 | &nbsp;&nbsp; 680000<br>| &nbsp;&nbsp;&nbsp; 615898<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; VZ Secured Financing BV, Senior Secured Notes | &nbsp;&nbsp; 7.500% | &nbsp;&nbsp; 1/15/33 | &nbsp;&nbsp; 530000<br>| &nbsp;&nbsp;&nbsp; 537451<br> <sup>(a)</sup><br>|
| *Total Media* | *Total Media* | *Total Media* | *Total Media* | &nbsp;&nbsp; *32645223* |
| *Wireless Telecommunication Services — 3.7%* | *Wireless Telecommunication Services — 3.7%* | *Wireless Telecommunication Services — 3.7%* | *Wireless Telecommunication Services — 3.7%* | *Wireless Telecommunication Services — 3.7%* |
| &nbsp;&nbsp;&nbsp; CSC Holdings LLC, Senior Notes | &nbsp;&nbsp; 11.750% | &nbsp;&nbsp; 1/31/29 | &nbsp;&nbsp; 1550000<br>| &nbsp;&nbsp;&nbsp; 1152537<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; CSC Holdings LLC, Senior Notes | &nbsp;&nbsp; 4.125% | &nbsp;&nbsp; 12/1/30 | &nbsp;&nbsp; 2080000<br>| &nbsp;&nbsp;&nbsp; 1277304<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; CSC Holdings LLC, Senior Notes | &nbsp;&nbsp; 4.625% | &nbsp;&nbsp; 12/1/30 | &nbsp;&nbsp; 1410000<br>| &nbsp;&nbsp;&nbsp; 504845<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; CSC Holdings LLC, Senior Notes | &nbsp;&nbsp; 4.500% | &nbsp;&nbsp; 11/15/31 | &nbsp;&nbsp; 5670000<br>| &nbsp;&nbsp;&nbsp; 3471968<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Sprint Capital Corp., Senior Notes | &nbsp;&nbsp; 8.750% | &nbsp;&nbsp; 3/15/32 | &nbsp;&nbsp; 5910000<br>| &nbsp;&nbsp;&nbsp; 7151211<br>|

---

See Notes to Schedule of Investments.

------

Western Asset High Income Opportunity Fund Inc. 2025 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

December 31, 2025

 **Western Asset High Income Opportunity Fund Inc.**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount†<br>| Value |
| *Wireless Telecommunication Services — continued* | *Wireless Telecommunication Services — continued* | *Wireless Telecommunication Services — continued* | *Wireless Telecommunication Services — continued* | *Wireless Telecommunication Services — continued* |
| &nbsp;&nbsp;&nbsp; Vmed O2 UK Financing I PLC, Senior Secured Notes | &nbsp;&nbsp; 4.750% | &nbsp;&nbsp; 7/15/31 | &nbsp;&nbsp; 500000<br>| &nbsp;&nbsp;&nbsp; $461999<br> <sup>(a)</sup><br>|
| *Total Wireless Telecommunication Services* | *Total Wireless Telecommunication Services* | *Total Wireless Telecommunication Services* | *Total Wireless Telecommunication Services* | &nbsp;&nbsp; *14019864* |
| **Total Communication Services** | **Total Communication Services** | **Total Communication Services** | **Total Communication Services** | &nbsp;&nbsp; **57971269** |
| **Consumer Discretionary — 13.7%** | **Consumer Discretionary — 13.7%** | **Consumer Discretionary — 13.7%** | **Consumer Discretionary — 13.7%** | **Consumer Discretionary — 13.7%** |
| *Automobile Components — 2.1%* | *Automobile Components — 2.1%* | *Automobile Components — 2.1%* | *Automobile Components — 2.1%* | *Automobile Components — 2.1%* |
| &nbsp;&nbsp;&nbsp; American Axle & Manufacturing Inc., Senior Notes | &nbsp;&nbsp; 7.750% | &nbsp;&nbsp; 10/15/33 | &nbsp;&nbsp; 1610000<br>| &nbsp;&nbsp;&nbsp; 1640813<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Clarios Global LP/Clarios US Finance Co., Senior Secured Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 2/15/30 | &nbsp;&nbsp; 980000<br>| &nbsp;&nbsp;&nbsp; 1025629<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; JB Poindexter & Co. Inc., Senior Notes | &nbsp;&nbsp; 8.750% | &nbsp;&nbsp; 12/15/31 | &nbsp;&nbsp; 1570000<br>| &nbsp;&nbsp;&nbsp; 1646500<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; ZF North America Capital Inc., Senior Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 4/23/30 | &nbsp;&nbsp; 1220000<br>| &nbsp;&nbsp;&nbsp; 1206399<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; ZF North America Capital Inc., Senior Notes | &nbsp;&nbsp; 7.500% | &nbsp;&nbsp; 3/24/31 | &nbsp;&nbsp; 970000<br>| &nbsp;&nbsp;&nbsp; 981118<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; ZF North America Capital Inc., Senior Notes | &nbsp;&nbsp; 6.875% | &nbsp;&nbsp; 4/23/32 | &nbsp;&nbsp; 1710000<br>| &nbsp;&nbsp;&nbsp; 1673543<br> <sup>(a)</sup><br>|
| *Total Automobile Components* | *Total Automobile Components* | *Total Automobile Components* | *Total Automobile Components* | &nbsp;&nbsp; *8174002* |
| *Automobiles — 1.1%* | *Automobiles — 1.1%* | *Automobiles — 1.1%* | *Automobiles — 1.1%* | *Automobiles — 1.1%* |
| &nbsp;&nbsp;&nbsp; Nissan Motor Co. Ltd., Senior Notes | &nbsp;&nbsp; 4.810% | &nbsp;&nbsp; 9/17/30 | &nbsp;&nbsp; 1040000<br>| &nbsp;&nbsp;&nbsp; 981137<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; PM General Purchaser LLC, Senior Secured Notes | &nbsp;&nbsp; 9.500% | &nbsp;&nbsp; 10/1/28 | &nbsp;&nbsp; 3500000<br>| &nbsp;&nbsp;&nbsp; 3027500<br> <sup>(a)</sup><br>|
| *Total Automobiles* | *Total Automobiles* | *Total Automobiles* | *Total Automobiles* | &nbsp;&nbsp; *4008637* |
| *Diversified Consumer Services — 0.3%* | *Diversified Consumer Services — 0.3%* | *Diversified Consumer Services — 0.3%* | *Diversified Consumer Services — 0.3%* | *Diversified Consumer Services — 0.3%* |
| &nbsp;&nbsp;&nbsp; Service Corp. International, Senior Notes | &nbsp;&nbsp; 7.500% | &nbsp;&nbsp; 4/1/27 | &nbsp;&nbsp; 1095000<br>| &nbsp;&nbsp;&nbsp; *1132323*<br>|
| *Hotels, Restaurants & Leisure — 7.6%* | *Hotels, Restaurants & Leisure — 7.6%* | *Hotels, Restaurants & Leisure — 7.6%* | *Hotels, Restaurants & Leisure — 7.6%* | *Hotels, Restaurants & Leisure — 7.6%* |
| &nbsp;&nbsp;&nbsp; Carnival Corp., Senior Notes | &nbsp;&nbsp; 6.125% | &nbsp;&nbsp; 2/15/33 | &nbsp;&nbsp; 980000<br>| &nbsp;&nbsp;&nbsp; 1012453<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Carnival PLC, Senior Notes | &nbsp;&nbsp; 1.000% | &nbsp;&nbsp; 10/28/29 | &nbsp;&nbsp; 5780000 <br><sup>EUR</sup><br>| &nbsp;&nbsp;&nbsp; 6336054<br>|
| &nbsp;&nbsp;&nbsp; Full House Resorts Inc., Senior Secured Notes | &nbsp;&nbsp; 8.250% | &nbsp;&nbsp; 2/15/28 | &nbsp;&nbsp; 3300000<br>| &nbsp;&nbsp;&nbsp; 2879250<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Melco Resorts Finance Ltd., Senior Notes | &nbsp;&nbsp; 5.375% | &nbsp;&nbsp; 12/4/29 | &nbsp;&nbsp; 1367000<br>| &nbsp;&nbsp;&nbsp; 1354296<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Melco Resorts Finance Ltd., Senior Notes | &nbsp;&nbsp; 6.500% | &nbsp;&nbsp; 9/24/33 | &nbsp;&nbsp; 420000<br>| &nbsp;&nbsp;&nbsp; 421454<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; NCL Corp. Ltd., Senior Notes | &nbsp;&nbsp; 7.750% | &nbsp;&nbsp; 2/15/29 | &nbsp;&nbsp; 1871000<br>| &nbsp;&nbsp;&nbsp; 1992852<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; NCL Finance Ltd., Senior Notes | &nbsp;&nbsp; 6.125% | &nbsp;&nbsp; 3/15/28 | &nbsp;&nbsp; 1510000<br>| &nbsp;&nbsp;&nbsp; 1557815<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Pinnacle Bidco PLC, Senior Secured Notes | &nbsp;&nbsp; 10.000% | &nbsp;&nbsp; 10/11/28 | &nbsp;&nbsp; 900000 <br><sup>GBP</sup><br>| &nbsp;&nbsp;&nbsp; 1280714<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Rivers Enterprise Lender LLC/Rivers Enterprise Lender Corp., Senior <br> Secured Notes | &nbsp;&nbsp; 6.250% | &nbsp;&nbsp; 10/15/30 | &nbsp;&nbsp; 1450000<br>| &nbsp;&nbsp;&nbsp; 1480738<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Viking Cruises Ltd., Senior Notes | &nbsp;&nbsp; 7.000% | &nbsp;&nbsp; 2/15/29 | &nbsp;&nbsp; 3000000<br>| &nbsp;&nbsp;&nbsp; 3028110<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Viking Ocean Cruises Ship VII Ltd., Senior Secured Notes | &nbsp;&nbsp; 5.625% | &nbsp;&nbsp; 2/15/29 | &nbsp;&nbsp; 2550000<br>| &nbsp;&nbsp;&nbsp; 2562730<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; VOC Escrow Ltd., Senior Secured Notes | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 2/15/28 | &nbsp;&nbsp; 140000<br>| &nbsp;&nbsp;&nbsp; 140060<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Wynn Macau Ltd., Senior Notes | &nbsp;&nbsp; 5.625% | &nbsp;&nbsp; 8/26/28 | &nbsp;&nbsp; 1970000<br>| &nbsp;&nbsp;&nbsp; 1970888<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Wynn Macau Ltd., Senior Notes | &nbsp;&nbsp; 5.125% | &nbsp;&nbsp; 12/15/29 | &nbsp;&nbsp; 1054000<br>| &nbsp;&nbsp;&nbsp; 1044898<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Wynn Resorts Finance LLC/Wynn Resorts Capital Corp., Senior Notes | &nbsp;&nbsp; 7.125% | &nbsp;&nbsp; 2/15/31 | &nbsp;&nbsp; 1730000<br>| &nbsp;&nbsp;&nbsp; 1873076<br> <sup>(a)</sup><br>|
| *Total Hotels, Restaurants & Leisure* | *Total Hotels, Restaurants & Leisure* | *Total Hotels, Restaurants & Leisure* | *Total Hotels, Restaurants & Leisure* | &nbsp;&nbsp; *28935388* |
| *Household Durables — 0.4%* | *Household Durables — 0.4%* | *Household Durables — 0.4%* | *Household Durables — 0.4%* | *Household Durables — 0.4%* |
| &nbsp;&nbsp;&nbsp; Dream Finders Homes Inc., Senior Notes | &nbsp;&nbsp; 6.875% | &nbsp;&nbsp; 9/15/30 | &nbsp;&nbsp; 1080000<br>| &nbsp;&nbsp;&nbsp; 1086826<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Newell Brands Inc., Senior Notes | &nbsp;&nbsp; 8.500% | &nbsp;&nbsp; 6/1/28 | &nbsp;&nbsp; 530000<br>| &nbsp;&nbsp;&nbsp; 556419<br> <sup>(a)</sup><br>|
| *Total Household Durables* | *Total Household Durables* | *Total Household Durables* | *Total Household Durables* | &nbsp;&nbsp; *1643245* |
| *Specialty Retail — 2.2%* | *Specialty Retail — 2.2%* | *Specialty Retail — 2.2%* | *Specialty Retail — 2.2%* | *Specialty Retail — 2.2%* |
| &nbsp;&nbsp;&nbsp; Global Auto Holdings Ltd./AAG FH UK Ltd., Senior Notes | &nbsp;&nbsp; 11.500% | &nbsp;&nbsp; 8/15/29 | &nbsp;&nbsp; 2000000<br>| &nbsp;&nbsp;&nbsp; 2102809<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Global Auto Holdings Ltd./AAG FH UK Ltd., Senior Notes | &nbsp;&nbsp; 8.750% | &nbsp;&nbsp; 1/15/32 | &nbsp;&nbsp; 780000<br>| &nbsp;&nbsp;&nbsp; 749571<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Michaels Cos. Inc., Senior Notes | &nbsp;&nbsp; 7.875% | &nbsp;&nbsp; 5/1/29 | &nbsp;&nbsp; 720000<br>| &nbsp;&nbsp;&nbsp; 665608<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Michaels Cos. Inc., Senior Secured Notes | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 5/1/28 | &nbsp;&nbsp; 1770000<br>| &nbsp;&nbsp;&nbsp; 1703648<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Sally Holdings LLC/Sally Capital Inc., Senior Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 3/1/32 | &nbsp;&nbsp; 1700000<br>| &nbsp;&nbsp;&nbsp; 1777339<br>|

---

See Notes to Schedule of Investments.

------

Western Asset High Income Opportunity Fund Inc. 2025 Quarterly Report

------

 **Western Asset High Income Opportunity Fund Inc.**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount†<br>| Value |
| *Specialty Retail — continued* | *Specialty Retail — continued* | *Specialty Retail — continued* | *Specialty Retail — continued* | *Specialty Retail — continued* |
| &nbsp;&nbsp;&nbsp; Upbound Group Inc., Senior Notes | &nbsp;&nbsp; 6.375% | &nbsp;&nbsp; 2/15/29 | &nbsp;&nbsp; 1380000<br>| &nbsp;&nbsp;&nbsp; $1361050<br> <sup>(a)</sup><br>|
| *Total Specialty Retail* | *Total Specialty Retail* | *Total Specialty Retail* | *Total Specialty Retail* | &nbsp;&nbsp; *8360025* |
| **Total Consumer Discretionary** | **Total Consumer Discretionary** | **Total Consumer Discretionary** | **Total Consumer Discretionary** | &nbsp;&nbsp; **52253620** |
| **Energy — 15.9%** | **Energy — 15.9%** | **Energy — 15.9%** | **Energy — 15.9%** | **Energy — 15.9%** |
| *Energy Equipment & Services — 1.0%* | *Energy Equipment & Services — 1.0%* | *Energy Equipment & Services — 1.0%* | *Energy Equipment & Services — 1.0%* | *Energy Equipment & Services — 1.0%* |
| &nbsp;&nbsp;&nbsp; Nabors Industries Inc., Senior Notes | &nbsp;&nbsp; 8.875% | &nbsp;&nbsp; 8/15/31 | &nbsp;&nbsp; 1900000<br>| &nbsp;&nbsp;&nbsp; 1844476<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Noble Finance II LLC, Senior Notes | &nbsp;&nbsp; 8.000% | &nbsp;&nbsp; 4/15/30 | &nbsp;&nbsp; 850000<br>| &nbsp;&nbsp;&nbsp; 883629<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; WBI Operating LLC, Senior Notes | &nbsp;&nbsp; 6.500% | &nbsp;&nbsp; 10/15/33 | &nbsp;&nbsp; 1010000<br>| &nbsp;&nbsp;&nbsp; 1006715<br> <sup>(a)</sup><br>|
| *Total Energy Equipment & Services* | *Total Energy Equipment & Services* | *Total Energy Equipment & Services* | *Total Energy Equipment & Services* | &nbsp;&nbsp; *3734820* |
| *Oil, Gas & Consumable Fuels — 14.9%* | *Oil, Gas & Consumable Fuels — 14.9%* | *Oil, Gas & Consumable Fuels — 14.9%* | *Oil, Gas & Consumable Fuels — 14.9%* | *Oil, Gas & Consumable Fuels — 14.9%* |
| &nbsp;&nbsp;&nbsp; Blue Racer Midstream LLC/Blue Racer Finance Corp., Senior Notes | &nbsp;&nbsp; 7.250% | &nbsp;&nbsp; 7/15/32 | &nbsp;&nbsp; 500000<br>| &nbsp;&nbsp;&nbsp; 530936<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Chord Energy Corp., Senior Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 3/15/33 | &nbsp;&nbsp; 1840000<br>| &nbsp;&nbsp;&nbsp; 1903990<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Crescent Energy Finance LLC, Senior Notes | &nbsp;&nbsp; 7.375% | &nbsp;&nbsp; 1/15/33 | &nbsp;&nbsp; 2530000<br>| &nbsp;&nbsp;&nbsp; 2402518<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Crescent Energy Finance LLC, Senior Notes | &nbsp;&nbsp; 8.375% | &nbsp;&nbsp; 1/15/34 | &nbsp;&nbsp; 1320000<br>| &nbsp;&nbsp;&nbsp; 1312014<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Ecopetrol SA, Senior Notes | &nbsp;&nbsp; 5.875% | &nbsp;&nbsp; 5/28/45 | &nbsp;&nbsp; 4110000<br>| &nbsp;&nbsp;&nbsp; 3061352<br>|
| &nbsp;&nbsp;&nbsp; Energy Transfer LP, Junior Subordinated Notes (6.625% to 2/15/28 <br> then 3 mo. USD LIBOR + 4.155%) | &nbsp;&nbsp; 6.625% | &nbsp;&nbsp; 2/15/28 | &nbsp;&nbsp; 1910000<br>| &nbsp;&nbsp;&nbsp; 1909044<br> <sup>(c)(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Granite Ridge Resources Inc., Senior Notes | &nbsp;&nbsp; 8.875% | &nbsp;&nbsp; 11/5/29 | &nbsp;&nbsp; 2280000<br>| &nbsp;&nbsp;&nbsp; 2198775<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Howard Midstream Energy Partners LLC, Senior Notes | &nbsp;&nbsp; 6.625% | &nbsp;&nbsp; 1/15/34 | &nbsp;&nbsp; 880000<br>| &nbsp;&nbsp;&nbsp; 904468<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Kinder Morgan Inc., Senior Notes | &nbsp;&nbsp; 7.750% | &nbsp;&nbsp; 1/15/32 | &nbsp;&nbsp; 5920000<br>| &nbsp;&nbsp;&nbsp; 6877032<br>|
| &nbsp;&nbsp;&nbsp; New Generation Gas Gathering LLC, Senior Secured Notes (3 mo. Term <br> SOFR + 5.750%) | &nbsp;&nbsp; 9.639% | &nbsp;&nbsp; 9/30/29 | &nbsp;&nbsp; 889189<br>| &nbsp;&nbsp;&nbsp; 924757<br> <sup>(a)(d)(e)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; NGPL PipeCo LLC, Senior Notes | &nbsp;&nbsp; 7.768% | &nbsp;&nbsp; 12/15/37 | &nbsp;&nbsp; 1020000<br>| &nbsp;&nbsp;&nbsp; 1187633<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Northern Oil & Gas Inc., Senior Notes | &nbsp;&nbsp; 7.875% | &nbsp;&nbsp; 10/15/33 | &nbsp;&nbsp; 1200000<br>| &nbsp;&nbsp;&nbsp; 1169141<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Occidental Petroleum Corp., Senior Notes | &nbsp;&nbsp; 6.200% | &nbsp;&nbsp; 3/15/40 | &nbsp;&nbsp; 1070000<br>| &nbsp;&nbsp;&nbsp; 1091518<br>|
| &nbsp;&nbsp;&nbsp; Permian Resources Operating LLC, Senior Notes | &nbsp;&nbsp; 6.250% | &nbsp;&nbsp; 2/1/33 | &nbsp;&nbsp; 1940000<br>| &nbsp;&nbsp;&nbsp; 1990946<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Petrobras Global Finance BV, Senior Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 1/27/41 | &nbsp;&nbsp; 4370000<br>| &nbsp;&nbsp;&nbsp; 4397522<br>|
| &nbsp;&nbsp;&nbsp; Petroleos del Peru SA, Senior Notes | &nbsp;&nbsp; 4.750% | &nbsp;&nbsp; 6/19/32 | &nbsp;&nbsp; 1500000<br>| &nbsp;&nbsp;&nbsp; 1107262<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Petroleos Mexicanos, Senior Notes | &nbsp;&nbsp; 6.500% | &nbsp;&nbsp; 6/2/41 | &nbsp;&nbsp; 1000000<br>| &nbsp;&nbsp;&nbsp; 866665<br>|
| &nbsp;&nbsp;&nbsp; Range Resources Corp., Senior Notes | &nbsp;&nbsp; 8.250% | &nbsp;&nbsp; 1/15/29 | &nbsp;&nbsp; 620000<br>| &nbsp;&nbsp;&nbsp; 632674<br>|
| &nbsp;&nbsp;&nbsp; Rockies Express Pipeline LLC, Senior Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 3/15/33 | &nbsp;&nbsp; 320000<br>| &nbsp;&nbsp;&nbsp; 338102<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Rockies Express Pipeline LLC, Senior Notes | &nbsp;&nbsp; 6.875% | &nbsp;&nbsp; 4/15/40 | &nbsp;&nbsp; 1140000<br>| &nbsp;&nbsp;&nbsp; 1179264<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Summit Midstream Holdings LLC, Senior Secured Notes | &nbsp;&nbsp; 8.625% | &nbsp;&nbsp; 10/31/29 | &nbsp;&nbsp; 410000<br>| &nbsp;&nbsp;&nbsp; 425407<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Sunoco LP, Junior Subordinated Notes (7.875% to 9/18/30 then 5 year <br> Treasury Constant Maturity Rate + 4.230%) | &nbsp;&nbsp; 7.875% | &nbsp;&nbsp; 9/18/30 | &nbsp;&nbsp; 1971000<br>| &nbsp;&nbsp;&nbsp; 2026267<br> <sup>(a)(c)(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Sunoco LP, Senior Notes | &nbsp;&nbsp; 5.625% | &nbsp;&nbsp; 3/15/31 | &nbsp;&nbsp; 970000<br>| &nbsp;&nbsp;&nbsp; 977612<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Venture Global LNG Inc., Junior Subordinated Notes (9.000% to <br> 9/30/29 then 5 year Treasury Constant Maturity Rate + 5.440%) | &nbsp;&nbsp; 9.000% | &nbsp;&nbsp; 9/30/29 | &nbsp;&nbsp; 3180000<br>| &nbsp;&nbsp;&nbsp; 2513665<br> <sup>(a)(c)(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Venture Global LNG Inc., Senior Secured Notes | &nbsp;&nbsp; 7.000% | &nbsp;&nbsp; 1/15/30 | &nbsp;&nbsp; 390000<br>| &nbsp;&nbsp;&nbsp; 375626<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Venture Global LNG Inc., Senior Secured Notes | &nbsp;&nbsp; 9.875% | &nbsp;&nbsp; 2/1/32 | &nbsp;&nbsp; 3260000<br>| &nbsp;&nbsp;&nbsp; 3369854<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Venture Global Plaquemines LNG LLC, Senior Secured Notes | &nbsp;&nbsp; 6.500% | &nbsp;&nbsp; 6/15/34 | &nbsp;&nbsp; 690000<br>| &nbsp;&nbsp;&nbsp; 705372<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Venture Global Plaquemines LNG LLC, Senior Secured Notes | &nbsp;&nbsp; 7.750% | &nbsp;&nbsp; 5/1/35 | &nbsp;&nbsp; 640000<br>| &nbsp;&nbsp;&nbsp; 701113<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Venture Global Plaquemines LNG LLC, Senior Secured Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 1/15/36 | &nbsp;&nbsp; 530000<br>| &nbsp;&nbsp;&nbsp; 543123<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Vermilion Energy Inc., Senior Notes | &nbsp;&nbsp; 6.875% | &nbsp;&nbsp; 5/1/30 | &nbsp;&nbsp; 730000<br>| &nbsp;&nbsp;&nbsp; 722698<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Vermilion Energy Inc., Senior Notes | &nbsp;&nbsp; 7.250% | &nbsp;&nbsp; 2/15/33 | &nbsp;&nbsp; 680000<br>| &nbsp;&nbsp;&nbsp; 641182<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Western Midstream Operating LP, Senior Notes | &nbsp;&nbsp; 4.050% | &nbsp;&nbsp; 2/1/30 | &nbsp;&nbsp; 340000<br>| &nbsp;&nbsp;&nbsp; 333243<br>|
| &nbsp;&nbsp;&nbsp; Western Midstream Operating LP, Senior Notes | &nbsp;&nbsp; 5.300% | &nbsp;&nbsp; 3/1/48 | &nbsp;&nbsp; 570000<br>| &nbsp;&nbsp;&nbsp; 491893<br>|

---

See Notes to Schedule of Investments.

------

Western Asset High Income Opportunity Fund Inc. 2025 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

December 31, 2025

 **Western Asset High Income Opportunity Fund Inc.**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount†<br>| Value |
| *Oil, Gas & Consumable Fuels — continued* | *Oil, Gas & Consumable Fuels — continued* | *Oil, Gas & Consumable Fuels — continued* | *Oil, Gas & Consumable Fuels — continued* | *Oil, Gas & Consumable Fuels — continued* |
| &nbsp;&nbsp;&nbsp; Western Midstream Operating LP, Senior Notes | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 2/1/50 | &nbsp;&nbsp; 3560000<br>| &nbsp;&nbsp;&nbsp; $3049821<br>|
| &nbsp;&nbsp;&nbsp; Williams Cos. Inc., Senior Notes | &nbsp;&nbsp; 7.500% | &nbsp;&nbsp; 1/15/31 | &nbsp;&nbsp; 620000<br>| &nbsp;&nbsp;&nbsp; 704169<br>|
| &nbsp;&nbsp;&nbsp; Williams Cos. Inc., Senior Notes | &nbsp;&nbsp; 5.750% | &nbsp;&nbsp; 6/24/44 | &nbsp;&nbsp; 2690000<br>| &nbsp;&nbsp;&nbsp; 2683620<br>|
| &nbsp;&nbsp;&nbsp; YPF SA, Senior Notes | &nbsp;&nbsp; 6.950% | &nbsp;&nbsp; 7/21/27 | &nbsp;&nbsp; 530000<br>| &nbsp;&nbsp;&nbsp; 534634<br> <sup>(a)</sup><br>|
| *Total Oil, Gas & Consumable Fuels* | *Total Oil, Gas & Consumable Fuels* | *Total Oil, Gas & Consumable Fuels* | *Total Oil, Gas & Consumable Fuels* | &nbsp;&nbsp; *56784912* |
| **Total Energy** | **Total Energy** | **Total Energy** | **Total Energy** | &nbsp;&nbsp; **60519732** |
| **Financials — 8.0%** | **Financials — 8.0%** | **Financials — 8.0%** | **Financials — 8.0%** | **Financials — 8.0%** |
| *Banks — 1.6%* | *Banks — 1.6%* | *Banks — 1.6%* | *Banks — 1.6%* | *Banks — 1.6%* |
| &nbsp;&nbsp;&nbsp; BNP Paribas SA, Junior Subordinated Notes (7.750% to 8/16/29 then 5 <br> year Treasury Constant Maturity Rate + 4.899%) | &nbsp;&nbsp; 7.750% | &nbsp;&nbsp; 8/16/29 | &nbsp;&nbsp; 1470000<br>| &nbsp;&nbsp;&nbsp; 1558654<br> <sup>(a)(c)(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Citigroup Inc., Junior Subordinated Notes (6.625% to 2/15/31 then 5 <br> year Treasury Constant Maturity Rate + 3.001%) | &nbsp;&nbsp; 6.625% | &nbsp;&nbsp; 2/15/31 | &nbsp;&nbsp; 670000<br>| &nbsp;&nbsp;&nbsp; 681177<br> <sup>(c)(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; HSBC Holdings PLC, Subordinated Notes (8.113% to 11/3/32 then <br> SOFR + 4.250%) | &nbsp;&nbsp; 8.113% | &nbsp;&nbsp; 11/3/33 | &nbsp;&nbsp; 1440000<br>| &nbsp;&nbsp;&nbsp; 1688528<br> <sup>(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Lloyds Banking Group PLC, Junior Subordinated Notes (8.000% to <br> 3/27/30 then 5 year Treasury Constant Maturity Rate + 3.913%) | &nbsp;&nbsp; 8.000% | &nbsp;&nbsp; 9/27/29 | &nbsp;&nbsp; 1840000<br>| &nbsp;&nbsp;&nbsp; 1992039<br> <sup>(c)(d)</sup><br>|
| *Total Banks* | *Total Banks* | *Total Banks* | *Total Banks* | &nbsp;&nbsp; *5920398* |
| *Capital Markets — 1.2%* | *Capital Markets — 1.2%* | *Capital Markets — 1.2%* | *Capital Markets — 1.2%* | *Capital Markets — 1.2%* |
| &nbsp;&nbsp;&nbsp; B3 SA - Brasil Bolsa Balcao, Senior Notes | &nbsp;&nbsp; 4.125% | &nbsp;&nbsp; 9/20/31 | &nbsp;&nbsp; 1000000<br>| &nbsp;&nbsp;&nbsp; 939375<br> <sup>(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Credit Suisse AG AT1 Claim | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 10560000<br>| &nbsp;&nbsp;&nbsp; 0<br> \*<sup>(e)(f)(h)</sup><br>|
| &nbsp;&nbsp;&nbsp; StoneX Escrow Issuer LLC, Secured Notes | &nbsp;&nbsp; 6.875% | &nbsp;&nbsp; 7/15/32 | &nbsp;&nbsp; 660000<br>| &nbsp;&nbsp;&nbsp; 685025<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; StoneX Group Inc., Secured Notes | &nbsp;&nbsp; 7.875% | &nbsp;&nbsp; 3/1/31 | &nbsp;&nbsp; 640000<br>| &nbsp;&nbsp;&nbsp; 682432<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; UBS Group AG, Junior Subordinated Notes (9.250% to 11/13/28 then 5 <br> year Treasury Constant Maturity Rate + 4.745%) | &nbsp;&nbsp; 9.250% | &nbsp;&nbsp; 11/13/28 | &nbsp;&nbsp; 2010000<br>| &nbsp;&nbsp;&nbsp; 2211400<br> <sup>(a)(c)(d)</sup><br>|
| *Total Capital Markets* | *Total Capital Markets* | *Total Capital Markets* | *Total Capital Markets* | &nbsp;&nbsp; *4518232* |
| *Consumer Finance — 0.5%* | *Consumer Finance — 0.5%* | *Consumer Finance — 0.5%* | *Consumer Finance — 0.5%* | *Consumer Finance — 0.5%* |
| &nbsp;&nbsp;&nbsp; Midcap Financial Issuer Trust, Senior Notes | &nbsp;&nbsp; 5.370% | &nbsp;&nbsp; 4/15/29 | &nbsp;&nbsp; 1910000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *1910000*<br> <sup>(a)(e)(i)</sup><br>|
| *Financial Services — 2.5%* | *Financial Services — 2.5%* | *Financial Services — 2.5%* | *Financial Services — 2.5%* | *Financial Services — 2.5%* |
| &nbsp;&nbsp;&nbsp; Boost Newco Borrower LLC/GTCR W Dutch Finance Sub BV, Senior <br> Secured Notes | &nbsp;&nbsp; 8.500% | &nbsp;&nbsp; 1/15/31 | &nbsp;&nbsp; 1160000 <br><sup>GBP</sup><br>| &nbsp;&nbsp;&nbsp; 1674016<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Burford Capital Global Finance LLC, Senior Notes | &nbsp;&nbsp; 9.250% | &nbsp;&nbsp; 7/1/31 | &nbsp;&nbsp; 530000<br>| &nbsp;&nbsp;&nbsp; 546354<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Capstone Borrower Inc., Senior Secured Notes | &nbsp;&nbsp; 8.000% | &nbsp;&nbsp; 6/15/30 | &nbsp;&nbsp; 410000<br>| &nbsp;&nbsp;&nbsp; 422658<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Jane Street Group/JSG Finance Inc., Senior Secured Notes | &nbsp;&nbsp; 7.125% | &nbsp;&nbsp; 4/30/31 | &nbsp;&nbsp; 2640000<br>| &nbsp;&nbsp;&nbsp; 2775567<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Rocket Cos. Inc., Senior Notes | &nbsp;&nbsp; 6.125% | &nbsp;&nbsp; 8/1/30 | &nbsp;&nbsp; 1030000<br>| &nbsp;&nbsp;&nbsp; 1065282<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; SGUS LLC, Senior Secured Notes | &nbsp;&nbsp; 11.000% | &nbsp;&nbsp; 12/15/29 | &nbsp;&nbsp; 706018<br>| &nbsp;&nbsp;&nbsp; 264,757<br> \*<sup>(a)(j)</sup><br>|
| &nbsp;&nbsp;&nbsp; VFH Parent LLC/Valor Co-Issuer Inc., Senior Secured Notes | &nbsp;&nbsp; 7.500% | &nbsp;&nbsp; 6/15/31 | &nbsp;&nbsp; 780000<br>| &nbsp;&nbsp;&nbsp; 818900<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; VistaJet Malta Finance PLC/Vista Management Holding Inc., Senior <br> Notes | &nbsp;&nbsp; 7.875% | &nbsp;&nbsp; 5/1/27 | &nbsp;&nbsp; 770000<br>| &nbsp;&nbsp;&nbsp; 776246<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; VistaJet Malta Finance PLC/Vista Management Holding Inc., Senior <br> Notes | &nbsp;&nbsp; 9.500% | &nbsp;&nbsp; 6/1/28 | &nbsp;&nbsp; 380000<br>| &nbsp;&nbsp;&nbsp; 394423<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; VistaJet Malta Finance PLC/Vista Management Holding Inc., Senior <br> Notes | &nbsp;&nbsp; 6.375% | &nbsp;&nbsp; 2/1/30 | &nbsp;&nbsp; 880000<br>| &nbsp;&nbsp;&nbsp; 838120<br> <sup>(a)</sup><br>|
| *Total Financial Services* | *Total Financial Services* | *Total Financial Services* | *Total Financial Services* | &nbsp;&nbsp; *9576323* |
| *Insurance — 1.4%* | *Insurance — 1.4%* | *Insurance — 1.4%* | *Insurance — 1.4%* | *Insurance — 1.4%* |
| &nbsp;&nbsp;&nbsp; Acrisure LLC/Acrisure Finance Inc., Senior Secured Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 7/1/32 | &nbsp;&nbsp; 370000<br>| &nbsp;&nbsp;&nbsp; 382779<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; APH Somerset Investor 2 LLC/APH2 Somerset Investor 2 LLC/APH3 <br> Somerset Investor 2 LLC, Senior Notes | &nbsp;&nbsp; 7.875% | &nbsp;&nbsp; 11/1/29 | &nbsp;&nbsp; 910000<br>| &nbsp;&nbsp;&nbsp; 919777<br> <sup>(a)</sup><br>|

---

See Notes to Schedule of Investments.

------

Western Asset High Income Opportunity Fund Inc. 2025 Quarterly Report

------

 **Western Asset High Income Opportunity Fund Inc.**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount†<br>| Value |
| *Insurance — continued* | *Insurance — continued* | *Insurance — continued* | *Insurance — continued* | *Insurance — continued* |
| &nbsp;&nbsp;&nbsp; Asurion LLC and Asurion Co-Issuer Inc., Senior Secured Notes | &nbsp;&nbsp; 8.000% | &nbsp;&nbsp; 12/31/32 | &nbsp;&nbsp; 2700000<br>| &nbsp;&nbsp;&nbsp; $2802942<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; MetLife Capital Trust IV, Junior Subordinated Notes | &nbsp;&nbsp; 7.875% | &nbsp;&nbsp; 12/15/37 | &nbsp;&nbsp; 1010000<br>| &nbsp;&nbsp;&nbsp; 1120726<br> <sup>(a)</sup><br>|
| *Total Insurance* | *Total Insurance* | *Total Insurance* | *Total Insurance* | &nbsp;&nbsp; *5226224* |
| *Mortgage Real Estate Investment Trusts (REITs) — 0.8%* | *Mortgage Real Estate Investment Trusts (REITs) — 0.8%* | *Mortgage Real Estate Investment Trusts (REITs) — 0.8%* | *Mortgage Real Estate Investment Trusts (REITs) — 0.8%* | *Mortgage Real Estate Investment Trusts (REITs) — 0.8%* |
| &nbsp;&nbsp;&nbsp; Apollo Commercial Real Estate Finance Inc., Senior Secured Notes | &nbsp;&nbsp; 4.625% | &nbsp;&nbsp; 6/15/29 | &nbsp;&nbsp; 420000<br>| &nbsp;&nbsp;&nbsp; 406568<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Arbor Realty SR Inc., Senior Notes | &nbsp;&nbsp; 8.500% | &nbsp;&nbsp; 12/15/28 | &nbsp;&nbsp; 510000<br>| &nbsp;&nbsp;&nbsp; 508127<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Arbor Realty SR Inc., Senior Notes | &nbsp;&nbsp; 7.875% | &nbsp;&nbsp; 7/15/30 | &nbsp;&nbsp; 1330000<br>| &nbsp;&nbsp;&nbsp; 1272549<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Starwood Property Trust Inc., Senior Notes | &nbsp;&nbsp; 7.250% | &nbsp;&nbsp; 4/1/29 | &nbsp;&nbsp; 750000<br>| &nbsp;&nbsp;&nbsp; 793014<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Starwood Property Trust Inc., Senior Notes | &nbsp;&nbsp; 6.000% | &nbsp;&nbsp; 4/15/30 | &nbsp;&nbsp; 190000<br>| &nbsp;&nbsp;&nbsp; 195708<br> <sup>(a)</sup><br>|
| *Total Mortgage Real Estate Investment Trusts (REITs)* | *Total Mortgage Real Estate Investment Trusts (REITs)* | *Total Mortgage Real Estate Investment Trusts (REITs)* | *Total Mortgage Real Estate Investment Trusts (REITs)* | &nbsp;&nbsp; *3175966* |
| **Total Financials** | **Total Financials** | **Total Financials** | **Total Financials** | &nbsp;&nbsp; **30327143** |
| **Health Care — 7.2%** | **Health Care — 7.2%** | **Health Care — 7.2%** | **Health Care — 7.2%** | **Health Care — 7.2%** |
| *Health Care Providers & Services — 4.4%* | *Health Care Providers & Services — 4.4%* | *Health Care Providers & Services — 4.4%* | *Health Care Providers & Services — 4.4%* | *Health Care Providers & Services — 4.4%* |
| &nbsp;&nbsp;&nbsp; CHS/Community Health Systems Inc., Secured Notes | &nbsp;&nbsp; 6.875% | &nbsp;&nbsp; 4/15/29 | &nbsp;&nbsp; 1790000<br>| &nbsp;&nbsp;&nbsp; 1594801<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; CHS/Community Health Systems Inc., Senior Secured Notes | &nbsp;&nbsp; 4.750% | &nbsp;&nbsp; 2/15/31 | &nbsp;&nbsp; 1910000<br>| &nbsp;&nbsp;&nbsp; 1702880<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; CHS/Community Health Systems Inc., Senior Secured Notes | &nbsp;&nbsp; 10.875% | &nbsp;&nbsp; 1/15/32 | &nbsp;&nbsp; 2286000<br>| &nbsp;&nbsp;&nbsp; 2497889<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; CHS/Community Health Systems Inc., Senior Secured Notes | &nbsp;&nbsp; 9.750% | &nbsp;&nbsp; 1/15/34 | &nbsp;&nbsp; 1460000<br>| &nbsp;&nbsp;&nbsp; 1535305<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; HCA Inc., Senior Notes | &nbsp;&nbsp; 7.500% | &nbsp;&nbsp; 11/15/95 | &nbsp;&nbsp; 6033000<br>| &nbsp;&nbsp;&nbsp; 6564800<br>|
| &nbsp;&nbsp;&nbsp; LifePoint Health Inc., Senior Secured Notes | &nbsp;&nbsp; 9.875% | &nbsp;&nbsp; 8/15/30 | &nbsp;&nbsp; 1720000<br>| &nbsp;&nbsp;&nbsp; 1854062<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Sotera Health Holdings LLC, Senior Secured Notes | &nbsp;&nbsp; 7.375% | &nbsp;&nbsp; 6/1/31 | &nbsp;&nbsp; 990000<br>| &nbsp;&nbsp;&nbsp; 1039571<br> <sup>(a)</sup><br>|
| *Total Health Care Providers & Services* | *Total Health Care Providers & Services* | *Total Health Care Providers & Services* | *Total Health Care Providers & Services* | &nbsp;&nbsp; *16789308* |
| *Pharmaceuticals — 2.8%* | *Pharmaceuticals — 2.8%* | *Pharmaceuticals — 2.8%* | *Pharmaceuticals — 2.8%* | *Pharmaceuticals — 2.8%* |
| &nbsp;&nbsp;&nbsp; 1261229 BC Ltd., Senior Secured Notes | &nbsp;&nbsp; 10.000% | &nbsp;&nbsp; 4/15/32 | &nbsp;&nbsp; 3693000<br>| &nbsp;&nbsp;&nbsp; 3843552<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Bausch Health Americas Inc., Senior Notes | &nbsp;&nbsp; 8.500% | &nbsp;&nbsp; 1/31/27 | &nbsp;&nbsp; 10000<br>| &nbsp;&nbsp;&nbsp; 9909<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Bausch Health Cos. Inc., Senior Notes | &nbsp;&nbsp; 6.250% | &nbsp;&nbsp; 2/15/29 | &nbsp;&nbsp; 210000<br>| &nbsp;&nbsp;&nbsp; 169312<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Bausch Health Cos. Inc., Senior Secured Notes | &nbsp;&nbsp; 4.875% | &nbsp;&nbsp; 6/1/28 | &nbsp;&nbsp; 820000<br>| &nbsp;&nbsp;&nbsp; 734515<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Teva Pharmaceutical Finance Netherlands III BV, Senior Notes | &nbsp;&nbsp; 5.125% | &nbsp;&nbsp; 5/9/29 | &nbsp;&nbsp; 880000<br>| &nbsp;&nbsp;&nbsp; 890658<br>|
| &nbsp;&nbsp;&nbsp; Teva Pharmaceutical Finance Netherlands III BV, Senior Notes | &nbsp;&nbsp; 8.125% | &nbsp;&nbsp; 9/15/31 | &nbsp;&nbsp; 1150000<br>| &nbsp;&nbsp;&nbsp; 1325594<br>|
| &nbsp;&nbsp;&nbsp; Teva Pharmaceutical Finance Netherlands III BV, Senior Notes | &nbsp;&nbsp; 6.000% | &nbsp;&nbsp; 12/1/32 | &nbsp;&nbsp; 1420000<br>| &nbsp;&nbsp;&nbsp; 1491381<br>|
| &nbsp;&nbsp;&nbsp; Teva Pharmaceutical Finance Netherlands III BV, Senior Notes | &nbsp;&nbsp; 4.100% | &nbsp;&nbsp; 10/1/46 | &nbsp;&nbsp; 2550000<br>| &nbsp;&nbsp;&nbsp; 1931739<br>|
| *Total Pharmaceuticals* | *Total Pharmaceuticals* | *Total Pharmaceuticals* | *Total Pharmaceuticals* | &nbsp;&nbsp; *10396660* |
| **Total Health Care** | **Total Health Care** | **Total Health Care** | **Total Health Care** | &nbsp;&nbsp; **27185968** |
| **Industrials — 10.8%** | **Industrials — 10.8%** | **Industrials — 10.8%** | **Industrials — 10.8%** | **Industrials — 10.8%** |
| *Aerospace & Defense — 1.7%* | *Aerospace & Defense — 1.7%* | *Aerospace & Defense — 1.7%* | *Aerospace & Defense — 1.7%* | *Aerospace & Defense — 1.7%* |
| &nbsp;&nbsp;&nbsp; Axon Enterprise Inc., Senior Notes | &nbsp;&nbsp; 6.125% | &nbsp;&nbsp; 3/15/30 | &nbsp;&nbsp; 380000<br>| &nbsp;&nbsp;&nbsp; 393241<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Axon Enterprise Inc., Senior Notes | &nbsp;&nbsp; 6.250% | &nbsp;&nbsp; 3/15/33 | &nbsp;&nbsp; 190000<br>| &nbsp;&nbsp;&nbsp; 198454<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Bombardier Inc., Senior Notes | &nbsp;&nbsp; 7.500% | &nbsp;&nbsp; 2/1/29 | &nbsp;&nbsp; 2990000<br>| &nbsp;&nbsp;&nbsp; 3119963<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Bombardier Inc., Senior Notes | &nbsp;&nbsp; 7.250% | &nbsp;&nbsp; 7/1/31 | &nbsp;&nbsp; 500000<br>| &nbsp;&nbsp;&nbsp; 533449<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Bombardier Inc., Senior Notes | &nbsp;&nbsp; 7.000% | &nbsp;&nbsp; 6/1/32 | &nbsp;&nbsp; 80000<br>| &nbsp;&nbsp;&nbsp; 84631<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; TransDigm Inc., Senior Secured Notes | &nbsp;&nbsp; 7.125% | &nbsp;&nbsp; 12/1/31 | &nbsp;&nbsp; 875000<br>| &nbsp;&nbsp;&nbsp; 920693<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; TransDigm Inc., Senior Secured Notes | &nbsp;&nbsp; 6.625% | &nbsp;&nbsp; 3/1/32 | &nbsp;&nbsp; 1020000<br>| &nbsp;&nbsp;&nbsp; 1062502<br> <sup>(a)</sup><br>|
| *Total Aerospace & Defense* | *Total Aerospace & Defense* | *Total Aerospace & Defense* | *Total Aerospace & Defense* | &nbsp;&nbsp; *6312933* |
| *Building Products — 0.6%* | *Building Products — 0.6%* | *Building Products — 0.6%* | *Building Products — 0.6%* | *Building Products — 0.6%* |
| &nbsp;&nbsp;&nbsp; Masterbrand Inc., Senior Notes | &nbsp;&nbsp; 7.000% | &nbsp;&nbsp; 7/15/32 | &nbsp;&nbsp; 500000<br>| &nbsp;&nbsp;&nbsp; 518615<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Quikrete Holdings Inc., Senior Secured Notes | &nbsp;&nbsp; 6.375% | &nbsp;&nbsp; 3/1/32 | &nbsp;&nbsp; 1700000<br>| &nbsp;&nbsp;&nbsp; 1770610<br> <sup>(a)</sup><br>|
| *Total Building Products* | *Total Building Products* | *Total Building Products* | *Total Building Products* | &nbsp;&nbsp; *2289225* |

---

See Notes to Schedule of Investments.

------

Western Asset High Income Opportunity Fund Inc. 2025 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

December 31, 2025

 **Western Asset High Income Opportunity Fund Inc.**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount†<br>| Value |
| *Commercial Services & Supplies — 4.0%* | *Commercial Services & Supplies — 4.0%* | *Commercial Services & Supplies — 4.0%* | *Commercial Services & Supplies — 4.0%* | *Commercial Services & Supplies — 4.0%* |
| &nbsp;&nbsp;&nbsp; CoreCivic Inc., Senior Notes | &nbsp;&nbsp; 4.750% | &nbsp;&nbsp; 10/15/27 | &nbsp;&nbsp; 280000<br>| &nbsp;&nbsp;&nbsp; $278580<br>|
| &nbsp;&nbsp;&nbsp; CoreCivic Inc., Senior Notes | &nbsp;&nbsp; 8.250% | &nbsp;&nbsp; 4/15/29 | &nbsp;&nbsp; 3330000<br>| &nbsp;&nbsp;&nbsp; 3503400<br>|
| &nbsp;&nbsp;&nbsp; GEO Group Inc., Senior Notes | &nbsp;&nbsp; 10.250% | &nbsp;&nbsp; 4/15/31 | &nbsp;&nbsp; 3160000<br>| &nbsp;&nbsp;&nbsp; 3460747<br>|
| &nbsp;&nbsp;&nbsp; GEO Group Inc., Senior Secured Notes | &nbsp;&nbsp; 8.625% | &nbsp;&nbsp; 4/15/29 | &nbsp;&nbsp; 1210000<br>| &nbsp;&nbsp;&nbsp; 1273504<br>|
| &nbsp;&nbsp;&nbsp; GFL Environmental Inc., Senior Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 1/15/31 | &nbsp;&nbsp; 550000<br>| &nbsp;&nbsp;&nbsp; 577732<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Neptune Bidco US Inc., Senior Secured Notes | &nbsp;&nbsp; 10.375% | &nbsp;&nbsp; 5/15/31 | &nbsp;&nbsp; 1890000<br>| &nbsp;&nbsp;&nbsp; 1938972<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; RB Global Holdings Inc., Senior Notes | &nbsp;&nbsp; 7.750% | &nbsp;&nbsp; 3/15/31 | &nbsp;&nbsp; 1250000<br>| &nbsp;&nbsp;&nbsp; 1308394<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; RR Donnelley & Sons Co., Secured Notes | &nbsp;&nbsp; 10.875% | &nbsp;&nbsp; 8/1/29 | &nbsp;&nbsp; 630000<br>| &nbsp;&nbsp;&nbsp; 644769<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; RR Donnelley & Sons Co., Senior Secured Notes | &nbsp;&nbsp; 9.500% | &nbsp;&nbsp; 8/1/29 | &nbsp;&nbsp; 2180000<br>| &nbsp;&nbsp;&nbsp; 2254654<br> <sup>(a)</sup><br>|
| *Total Commercial Services & Supplies* | *Total Commercial Services & Supplies* | *Total Commercial Services & Supplies* | *Total Commercial Services & Supplies* | &nbsp;&nbsp; *15240752* |
| *Construction & Engineering — 0.8%* | *Construction & Engineering — 0.8%* | *Construction & Engineering — 0.8%* | *Construction & Engineering — 0.8%* | *Construction & Engineering — 0.8%* |
| &nbsp;&nbsp;&nbsp; Arcosa Inc., Senior Notes | &nbsp;&nbsp; 6.875% | &nbsp;&nbsp; 8/15/32 | &nbsp;&nbsp; 620000<br>| &nbsp;&nbsp;&nbsp; 655956<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Tutor Perini Corp., Senior Notes | &nbsp;&nbsp; 11.875% | &nbsp;&nbsp; 4/30/29 | &nbsp;&nbsp; 2070000<br>| &nbsp;&nbsp;&nbsp; 2307532<br> <sup>(a)</sup><br>|
| *Total Construction & Engineering* | *Total Construction & Engineering* | *Total Construction & Engineering* | *Total Construction & Engineering* | &nbsp;&nbsp; *2963488* |
| *Ground Transportation — 0.6%* | *Ground Transportation — 0.6%* | *Ground Transportation — 0.6%* | *Ground Transportation — 0.6%* | *Ground Transportation — 0.6%* |
| &nbsp;&nbsp;&nbsp; Carriage Purchaser Inc., Senior Notes | &nbsp;&nbsp; 7.875% | &nbsp;&nbsp; 10/15/29 | &nbsp;&nbsp; 2020000<br>| &nbsp;&nbsp;&nbsp; 1940549<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; XPO Inc., Senior Notes | &nbsp;&nbsp; 7.125% | &nbsp;&nbsp; 2/1/32 | &nbsp;&nbsp; 500000<br>| &nbsp;&nbsp;&nbsp; 527734<br> <sup>(a)</sup><br>|
| *Total Ground Transportation* | *Total Ground Transportation* | *Total Ground Transportation* | *Total Ground Transportation* | &nbsp;&nbsp; *2468283* |
| *Machinery — 0.6%* | *Machinery — 0.6%* | *Machinery — 0.6%* | *Machinery — 0.6%* | *Machinery — 0.6%* |
| &nbsp;&nbsp;&nbsp; Park-Ohio Industries Inc., Senior Secured Notes | &nbsp;&nbsp; 8.500% | &nbsp;&nbsp; 8/1/30 | &nbsp;&nbsp; 1290000<br>| &nbsp;&nbsp;&nbsp; 1330977<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Titan International Inc., Senior Secured Notes | &nbsp;&nbsp; 7.000% | &nbsp;&nbsp; 4/30/28 | &nbsp;&nbsp; 960000<br>| &nbsp;&nbsp;&nbsp; 965556<br>|
| *Total Machinery* | *Total Machinery* | *Total Machinery* | *Total Machinery* | &nbsp;&nbsp; *2296533* |
| *Passenger Airlines — 2.0%* | *Passenger Airlines — 2.0%* | *Passenger Airlines — 2.0%* | *Passenger Airlines — 2.0%* | *Passenger Airlines — 2.0%* |
| &nbsp;&nbsp;&nbsp; American Airlines Inc., Senior Secured Notes | &nbsp;&nbsp; 7.250% | &nbsp;&nbsp; 2/15/28 | &nbsp;&nbsp; 3670000<br>| &nbsp;&nbsp;&nbsp; 3753678<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; American Airlines Inc., Senior Secured Notes | &nbsp;&nbsp; 8.500% | &nbsp;&nbsp; 5/15/29 | &nbsp;&nbsp; 1980000<br>| &nbsp;&nbsp;&nbsp; 2072104<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; JetBlue Airways Corp./JetBlue Loyalty LP, Senior Secured Notes | &nbsp;&nbsp; 9.875% | &nbsp;&nbsp; 9/20/31 | &nbsp;&nbsp; 1890000<br>| &nbsp;&nbsp;&nbsp; 1905755<br> <sup>(a)</sup><br>|
| *Total Passenger Airlines* | *Total Passenger Airlines* | *Total Passenger Airlines* | *Total Passenger Airlines* | &nbsp;&nbsp; *7731537* |
| *Trading Companies & Distributors — 0.5%* | *Trading Companies & Distributors — 0.5%* | *Trading Companies & Distributors — 0.5%* | *Trading Companies & Distributors — 0.5%* | *Trading Companies & Distributors — 0.5%* |
| &nbsp;&nbsp;&nbsp; Herc Holdings Inc., Senior Notes | &nbsp;&nbsp; 7.000% | &nbsp;&nbsp; 6/15/30 | &nbsp;&nbsp; 170000<br>| &nbsp;&nbsp;&nbsp; 179014<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Herc Holdings Inc., Senior Notes | &nbsp;&nbsp; 7.250% | &nbsp;&nbsp; 6/15/33 | &nbsp;&nbsp; 710000<br>| &nbsp;&nbsp;&nbsp; 753292<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; United Rentals North America Inc., Senior Notes | &nbsp;&nbsp; 6.125% | &nbsp;&nbsp; 3/15/34 | &nbsp;&nbsp; 1000000<br>| &nbsp;&nbsp;&nbsp; 1042923<br> <sup>(a)</sup><br>|
| *Total Trading Companies & Distributors* | *Total Trading Companies & Distributors* | *Total Trading Companies & Distributors* | *Total Trading Companies & Distributors* | &nbsp;&nbsp; *1975229* |
| **Total Industrials** | **Total Industrials** | **Total Industrials** | **Total Industrials** | &nbsp;&nbsp; **41277980** |
| **Information Technology — 4.7%** | **Information Technology — 4.7%** | **Information Technology — 4.7%** | **Information Technology — 4.7%** | **Information Technology — 4.7%** |
| *Communications Equipment — 1.6%* | *Communications Equipment — 1.6%* | *Communications Equipment — 1.6%* | *Communications Equipment — 1.6%* | *Communications Equipment — 1.6%* |
| &nbsp;&nbsp;&nbsp; CommScope LLC, Senior Notes | &nbsp;&nbsp; 7.125% | &nbsp;&nbsp; 7/1/28 | &nbsp;&nbsp; 190000<br>| &nbsp;&nbsp;&nbsp; 191150<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; CommScope LLC, Senior Secured Notes | &nbsp;&nbsp; 9.500% | &nbsp;&nbsp; 12/15/31 | &nbsp;&nbsp; 1110000<br>| &nbsp;&nbsp;&nbsp; 1122099<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Connect Finco SARL/Connect US Finco LLC, Senior Secured Notes | &nbsp;&nbsp; 9.000% | &nbsp;&nbsp; 9/15/29 | &nbsp;&nbsp; 3490000<br>| &nbsp;&nbsp;&nbsp; 3706343<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Viasat Inc., Senior Notes | &nbsp;&nbsp; 7.500% | &nbsp;&nbsp; 5/30/31 | &nbsp;&nbsp; 1200000<br>| &nbsp;&nbsp;&nbsp; 1142455<br> <sup>(a)</sup><br>|
| *Total Communications Equipment* | *Total Communications Equipment* | *Total Communications Equipment* | *Total Communications Equipment* | &nbsp;&nbsp; *6162047* |
| *Electronic Equipment, Instruments & Components — 0.8%* | *Electronic Equipment, Instruments & Components — 0.8%* | *Electronic Equipment, Instruments & Components — 0.8%* | *Electronic Equipment, Instruments & Components — 0.8%* | *Electronic Equipment, Instruments & Components — 0.8%* |
| &nbsp;&nbsp;&nbsp; EquipmentShare.com Inc., Secured Notes | &nbsp;&nbsp; 8.625% | &nbsp;&nbsp; 5/15/32 | &nbsp;&nbsp; 600000<br>| &nbsp;&nbsp;&nbsp; 634513<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; EquipmentShare.com Inc., Secured Notes | &nbsp;&nbsp; 8.000% | &nbsp;&nbsp; 3/15/33 | &nbsp;&nbsp; 2200000<br>| &nbsp;&nbsp;&nbsp; 2317654<br> <sup>(a)</sup><br>|
| *Total Electronic Equipment, Instruments & Components* | *Total Electronic Equipment, Instruments & Components* | *Total Electronic Equipment, Instruments & Components* | *Total Electronic Equipment, Instruments & Components* | &nbsp;&nbsp; *2952167* |
| *IT Services — 1.0%* | *IT Services — 1.0%* | *IT Services — 1.0%* | *IT Services — 1.0%* | *IT Services — 1.0%* |
| &nbsp;&nbsp;&nbsp; APLD ComputeCo LLC, Senior Secured Notes | &nbsp;&nbsp; 9.250% | &nbsp;&nbsp; 12/15/30 | &nbsp;&nbsp; 690000<br>| &nbsp;&nbsp;&nbsp; 677356<br> <sup>(a)</sup><br>|

---

See Notes to Schedule of Investments.

------

Western Asset High Income Opportunity Fund Inc. 2025 Quarterly Report

------

 **Western Asset High Income Opportunity Fund Inc.**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount†<br>| Value |
| *IT Services — continued* | *IT Services — continued* | *IT Services — continued* | *IT Services — continued* | *IT Services — continued* |
| &nbsp;&nbsp;&nbsp; CoreWeave Inc., Senior Notes | &nbsp;&nbsp; 9.250% | &nbsp;&nbsp; 6/1/30 | &nbsp;&nbsp; 2830000<br>| &nbsp;&nbsp;&nbsp; $2634185<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Shift4 Payments LLC/Shift4 Payments Finance Sub Inc., Senior Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 8/15/32 | &nbsp;&nbsp; 540000<br>| &nbsp;&nbsp;&nbsp; 557867<br> <sup>(a)</sup><br>|
| *Total IT Services* | *Total IT Services* | *Total IT Services* | *Total IT Services* | &nbsp;&nbsp; *3869408* |
| *Semiconductors & Semiconductor Equipment — 0.3%* | *Semiconductors & Semiconductor Equipment — 0.3%* | *Semiconductors & Semiconductor Equipment — 0.3%* | *Semiconductors & Semiconductor Equipment — 0.3%* | *Semiconductors & Semiconductor Equipment — 0.3%* |
| &nbsp;&nbsp;&nbsp; Qnity Electronics Inc., Senior Notes | &nbsp;&nbsp; 6.250% | &nbsp;&nbsp; 8/15/33 | &nbsp;&nbsp; 1120000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *1162338*<br> <sup>(a)</sup><br>|
| *Software — 0.8%* | *Software — 0.8%* | *Software — 0.8%* | *Software — 0.8%* | *Software — 0.8%* |
| &nbsp;&nbsp;&nbsp; Cloud Software Group Inc., Senior Secured Notes | &nbsp;&nbsp; 8.250% | &nbsp;&nbsp; 6/30/32 | &nbsp;&nbsp; 1870000<br>| &nbsp;&nbsp;&nbsp; 1955254<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Cloud Software Group Inc., Senior Secured Notes | &nbsp;&nbsp; 6.625% | &nbsp;&nbsp; 8/15/33 | &nbsp;&nbsp; 680000<br>| &nbsp;&nbsp;&nbsp; 674340<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Gen Digital Inc., Senior Notes | &nbsp;&nbsp; 6.250% | &nbsp;&nbsp; 4/1/33 | &nbsp;&nbsp; 560000<br>| &nbsp;&nbsp;&nbsp; 579847<br> <sup>(a)</sup><br>|
| *Total Software* | *Total Software* | *Total Software* | *Total Software* | &nbsp;&nbsp; *3209441* |
| *Technology Hardware, Storage & Peripherals — 0.2%* | *Technology Hardware, Storage & Peripherals — 0.2%* | *Technology Hardware, Storage & Peripherals — 0.2%* | *Technology Hardware, Storage & Peripherals — 0.2%* | *Technology Hardware, Storage & Peripherals — 0.2%* |
| &nbsp;&nbsp;&nbsp; Diebold Nixdorf Inc., Senior Secured Notes | &nbsp;&nbsp; 7.750% | &nbsp;&nbsp; 3/31/30 | &nbsp;&nbsp; 610000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *650666*<br> <sup>(a)</sup><br>|
| **Total Information Technology** | **Total Information Technology** | **Total Information Technology** | **Total Information Technology** | &nbsp;&nbsp; **18006067** |
| **Materials — 2.8%** | **Materials — 2.8%** | **Materials — 2.8%** | **Materials — 2.8%** | **Materials — 2.8%** |
| *Chemicals — 0.6%* | *Chemicals — 0.6%* | *Chemicals — 0.6%* | *Chemicals — 0.6%* | *Chemicals — 0.6%* |
| &nbsp;&nbsp;&nbsp; Celanese US Holdings LLC, Senior Notes | &nbsp;&nbsp; 7.000% | &nbsp;&nbsp; 2/15/31 | &nbsp;&nbsp; 410000<br>| &nbsp;&nbsp;&nbsp; 420026<br>|
| &nbsp;&nbsp;&nbsp; Cerdia Finanz GmbH, Senior Secured Notes | &nbsp;&nbsp; 9.375% | &nbsp;&nbsp; 10/3/31 | &nbsp;&nbsp; 1820000<br>| &nbsp;&nbsp;&nbsp; 1890525<br> <sup>(a)</sup><br>|
| *Total Chemicals* | *Total Chemicals* | *Total Chemicals* | *Total Chemicals* | &nbsp;&nbsp; *2310551* |
| *Metals & Mining — 2.2%* | *Metals & Mining — 2.2%* | *Metals & Mining — 2.2%* | *Metals & Mining — 2.2%* | *Metals & Mining — 2.2%* |
| &nbsp;&nbsp;&nbsp; Capstone Copper Corp., Senior Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 3/31/33 | &nbsp;&nbsp; 650000<br>| &nbsp;&nbsp;&nbsp; 675094<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; First Quantum Minerals Ltd., Secured Notes | &nbsp;&nbsp; 9.375% | &nbsp;&nbsp; 3/1/29 | &nbsp;&nbsp; 920000<br>| &nbsp;&nbsp;&nbsp; 969922<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; First Quantum Minerals Ltd., Senior Notes | &nbsp;&nbsp; 8.625% | &nbsp;&nbsp; 6/1/31 | &nbsp;&nbsp; 2120000<br>| &nbsp;&nbsp;&nbsp; 2233619<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; First Quantum Minerals Ltd., Senior Notes | &nbsp;&nbsp; 8.000% | &nbsp;&nbsp; 3/1/33 | &nbsp;&nbsp; 3410000<br>| &nbsp;&nbsp;&nbsp; 3645962<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; First Quantum Minerals Ltd., Senior Notes | &nbsp;&nbsp; 7.250% | &nbsp;&nbsp; 2/15/34 | &nbsp;&nbsp; 790000<br>| &nbsp;&nbsp;&nbsp; 831167<br> <sup>(a)</sup><br>|
| *Total Metals & Mining* | *Total Metals & Mining* | *Total Metals & Mining* | *Total Metals & Mining* | &nbsp;&nbsp; *8355764* |
| **Total Materials** | **Total Materials** | **Total Materials** | **Total Materials** | &nbsp;&nbsp; **10666315** |
| **Real Estate — 2.0%** | **Real Estate — 2.0%** | **Real Estate — 2.0%** | **Real Estate — 2.0%** | **Real Estate — 2.0%** |
| *Diversified REITs — 0.4%* | *Diversified REITs — 0.4%* | *Diversified REITs — 0.4%* | *Diversified REITs — 0.4%* | *Diversified REITs — 0.4%* |
| &nbsp;&nbsp;&nbsp; MPT Operating Partnership LP/MPT Finance Corp., Senior Notes | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 10/15/27 | &nbsp;&nbsp; 880000<br>| &nbsp;&nbsp;&nbsp; 852924<br>|
| &nbsp;&nbsp;&nbsp; MPT Operating Partnership LP/MPT Finance Corp., Senior Notes | &nbsp;&nbsp; 3.692% | &nbsp;&nbsp; 6/5/28 | &nbsp;&nbsp; 140000 <br><sup>GBP</sup><br>| &nbsp;&nbsp;&nbsp; 160897<br>|
| &nbsp;&nbsp;&nbsp; MPT Operating Partnership LP/MPT Finance Corp., Senior Secured <br> Notes | &nbsp;&nbsp; 8.500% | &nbsp;&nbsp; 2/15/32 | &nbsp;&nbsp; 460000<br>| &nbsp;&nbsp;&nbsp; 491592<br> <sup>(a)</sup><br>|
| *Total Diversified REITs* | *Total Diversified REITs* | *Total Diversified REITs* | *Total Diversified REITs* | &nbsp;&nbsp; *1505413* |
| *Health Care REITs — 0.2%* | *Health Care REITs — 0.2%* | *Health Care REITs — 0.2%* | *Health Care REITs — 0.2%* | *Health Care REITs — 0.2%* |
| &nbsp;&nbsp;&nbsp; Diversified Healthcare Trust, Senior Notes | &nbsp;&nbsp; 4.375% | &nbsp;&nbsp; 3/1/31 | &nbsp;&nbsp; 240000<br>| &nbsp;&nbsp;&nbsp; 212337<br>|
| &nbsp;&nbsp;&nbsp; Diversified Healthcare Trust, Senior Secured Notes | &nbsp;&nbsp; 7.250% | &nbsp;&nbsp; 10/15/30 | &nbsp;&nbsp; 800000<br>| &nbsp;&nbsp;&nbsp; 818990<br> <sup>(a)</sup><br>|
| *Total Health Care REITs* | *Total Health Care REITs* | *Total Health Care REITs* | *Total Health Care REITs* | &nbsp;&nbsp; *1031327* |
| *Real Estate Management & Development — 0.7%* | *Real Estate Management & Development — 0.7%* | *Real Estate Management & Development — 0.7%* | *Real Estate Management & Development — 0.7%* | *Real Estate Management & Development — 0.7%* |
| &nbsp;&nbsp;&nbsp; Add Hero Holdings Ltd., Senior Secured Notes (7.500% Cash or <br> 8.500% PIK) | &nbsp;&nbsp; 8.500% | &nbsp;&nbsp; 9/30/29 | &nbsp;&nbsp; 319090<br>| &nbsp;&nbsp;&nbsp; 15157<br> <sup>(b)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Add Hero Holdings Ltd., Senior Secured Notes (8.000% Cash or <br> 9.000% PIK) | &nbsp;&nbsp; 9.000% | &nbsp;&nbsp; 9/30/30 | &nbsp;&nbsp; 259874<br>| &nbsp;&nbsp;&nbsp; 5197<br> <sup>(b)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Add Hero Holdings Ltd., Senior Secured Notes (8.800% Cash or <br> 9.800% PIK) | &nbsp;&nbsp; 9.800% | &nbsp;&nbsp; 9/30/31 | &nbsp;&nbsp; 343038<br>| &nbsp;&nbsp;&nbsp; 6861<br> <sup>(b)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; China Aoyuan Group Ltd., Senior Notes, Step bond (0.000% to 9/30/31 <br> then 1.000%) | &nbsp;&nbsp; 0.000% | &nbsp;&nbsp; 3/30/2173 | &nbsp;&nbsp; 450290<br>| &nbsp;&nbsp;&nbsp; 3377<br> <sup>(c)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; China Aoyuan Group Ltd., Senior Secured Notes (5.500% PIK) | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 9/30/31 | &nbsp;&nbsp; 125474<br>| &nbsp;&nbsp;&nbsp; 2196<br> <sup>(b)(g)</sup><br>|

---

See Notes to Schedule of Investments.

------

Western Asset High Income Opportunity Fund Inc. 2025 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

December 31, 2025

 **Western Asset High Income Opportunity Fund Inc.**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount†<br>| Value |
| *Real Estate Management & Development — continued* | *Real Estate Management & Development — continued* | *Real Estate Management & Development — continued* | *Real Estate Management & Development — continued* | *Real Estate Management & Development — continued* |
| &nbsp;&nbsp;&nbsp; Country Garden Holdings Co. Ltd., Senior Secured Notes | &nbsp;&nbsp; — | &nbsp;&nbsp; 1/27/24 | &nbsp;&nbsp; 2016000<br>| &nbsp;&nbsp;&nbsp; $195,814<br> \*<sup>(g)(k)</sup><br>|
| &nbsp;&nbsp;&nbsp; Cushman & Wakefield US Borrower LLC, Senior Secured Notes | &nbsp;&nbsp; 8.875% | &nbsp;&nbsp; 9/1/31 | &nbsp;&nbsp; 420000<br>| &nbsp;&nbsp;&nbsp; 449677<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Five Point Operating Co. LP, Senior Notes | &nbsp;&nbsp; 8.000% | &nbsp;&nbsp; 10/1/30 | &nbsp;&nbsp; 1830000<br>| &nbsp;&nbsp;&nbsp; 1914647<br> <sup>(a)</sup><br>|
| *Total Real Estate Management & Development* | *Total Real Estate Management & Development* | *Total Real Estate Management & Development* | *Total Real Estate Management & Development* | &nbsp;&nbsp; *2592926* |
| *Specialized REITs — 0.7%* | *Specialized REITs — 0.7%* | *Specialized REITs — 0.7%* | *Specialized REITs — 0.7%* | *Specialized REITs — 0.7%* |
| &nbsp;&nbsp;&nbsp; Iron Mountain Inc., Senior Notes | &nbsp;&nbsp; 7.000% | &nbsp;&nbsp; 2/15/29 | &nbsp;&nbsp; 540000<br>| &nbsp;&nbsp;&nbsp; 555039<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Millrose Properties Inc., Senior Notes | &nbsp;&nbsp; 6.375% | &nbsp;&nbsp; 8/1/30 | &nbsp;&nbsp; 1520000<br>| &nbsp;&nbsp;&nbsp; 1556281<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Millrose Properties Inc., Senior Notes | &nbsp;&nbsp; 6.250% | &nbsp;&nbsp; 9/15/32 | &nbsp;&nbsp; 440000<br>| &nbsp;&nbsp;&nbsp; 444294<br> <sup>(a)</sup><br>|
| *Total Specialized REITs* | *Total Specialized REITs* | *Total Specialized REITs* | *Total Specialized REITs* | &nbsp;&nbsp; *2555614* |
| **Total Real Estate** | **Total Real Estate** | **Total Real Estate** | **Total Real Estate** | &nbsp;&nbsp; **7685280** |
| **Utilities — 1.7%** | **Utilities — 1.7%** | **Utilities — 1.7%** | **Utilities — 1.7%** | **Utilities — 1.7%** |
| *Electric Utilities — 1.5%* | *Electric Utilities — 1.5%* | *Electric Utilities — 1.5%* | *Electric Utilities — 1.5%* | *Electric Utilities — 1.5%* |
| &nbsp;&nbsp;&nbsp; Alpha Generation LLC, Senior Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 10/15/32 | &nbsp;&nbsp; 940000<br>| &nbsp;&nbsp;&nbsp; 973591<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; NRG Energy Inc., Senior Notes | &nbsp;&nbsp; 6.000% | &nbsp;&nbsp; 1/15/36 | &nbsp;&nbsp; 2090000<br>| &nbsp;&nbsp;&nbsp; 2118776<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Talen Energy Supply LLC, Senior Notes | &nbsp;&nbsp; 6.500% | &nbsp;&nbsp; 2/1/36 | &nbsp;&nbsp; 610000<br>| &nbsp;&nbsp;&nbsp; 631176<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Vistra Operations Co. LLC, Senior Notes | &nbsp;&nbsp; 7.750% | &nbsp;&nbsp; 10/15/31 | &nbsp;&nbsp; 920000<br>| &nbsp;&nbsp;&nbsp; 974875<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Vistra Operations Co. LLC, Senior Notes | &nbsp;&nbsp; 6.875% | &nbsp;&nbsp; 4/15/32 | &nbsp;&nbsp; 860000<br>| &nbsp;&nbsp;&nbsp; 906346<br> <sup>(a)</sup><br>|
| *Total Electric Utilities* | *Total Electric Utilities* | *Total Electric Utilities* | *Total Electric Utilities* | &nbsp;&nbsp; *5604764* |
| *Independent Power and Renewable Electricity Producers — 0.2%* | *Independent Power and Renewable Electricity Producers — 0.2%* | *Independent Power and Renewable Electricity Producers — 0.2%* | *Independent Power and Renewable Electricity Producers — 0.2%* | *Independent Power and Renewable Electricity Producers — 0.2%* |
| &nbsp;&nbsp;&nbsp; Lightning Power LLC, Senior Secured Notes | &nbsp;&nbsp; 7.250% | &nbsp;&nbsp; 8/15/32 | &nbsp;&nbsp; 940000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *1000081*<br> <sup>(a)</sup><br>|
| **Total Utilities** | **Total Utilities** | **Total Utilities** | **Total Utilities** | &nbsp;&nbsp; **6604845** |
| **Total Corporate Bonds & Notes (Cost — $292,945,002)** | **Total Corporate Bonds & Notes (Cost — $292,945,002)** | **Total Corporate Bonds & Notes (Cost — $292,945,002)** | **Total Corporate Bonds & Notes (Cost — $292,945,002)** | &nbsp;&nbsp; **312498219** |
| **Senior Loans — 7.1%** | **Senior Loans — 7.1%** | **Senior Loans — 7.1%** | **Senior Loans — 7.1%** | **Senior Loans — 7.1%** |
| **Communication Services — 0.9%** | **Communication Services — 0.9%** | **Communication Services — 0.9%** | **Communication Services — 0.9%** | **Communication Services — 0.9%** |
| *Interactive Media & Services — 0.4%* | *Interactive Media & Services — 0.4%* | *Interactive Media & Services — 0.4%* | *Interactive Media & Services — 0.4%* | *Interactive Media & Services — 0.4%* |
| &nbsp;&nbsp;&nbsp; X Corp., Term Loan B1 (6 mo. Term SOFR + 6.750%) | 10.448% | &nbsp;&nbsp; 10/26/29 | &nbsp;&nbsp; 228235<br>| &nbsp;&nbsp;&nbsp; 224731<br> <sup>(d)(l)(m)</sup><br>|
| &nbsp;&nbsp;&nbsp; X Corp., Term Loan B3 | 9.500% | &nbsp;&nbsp; 10/26/29 | &nbsp;&nbsp; 1310000<br>| &nbsp;&nbsp;&nbsp; 1307891<br> <sup>(l)(m)</sup><br>|
| *Total Interactive Media & Services* | *Total Interactive Media & Services* | *Total Interactive Media & Services* | *Total Interactive Media & Services* | &nbsp;&nbsp; *1532622* |
| *Media — 0.5%* | *Media — 0.5%* | *Media — 0.5%* | *Media — 0.5%* | *Media — 0.5%* |
| &nbsp;&nbsp;&nbsp; Diamond Sports Net LLC, First Lien Exit Term Loan (15.000% PIK) | 15.000% | &nbsp;&nbsp; 1/2/28 | &nbsp;&nbsp; 1740069<br>| &nbsp;&nbsp;&nbsp; 682350<br> <sup>(b)(l)(m)</sup><br>|
| &nbsp;&nbsp;&nbsp; iHeartCommunications Inc., Refinanced Term Loan B (1 mo. Term SOFR <br> + 5.889%) | 9.606% | &nbsp;&nbsp; 5/1/29 | &nbsp;&nbsp; 1354320<br>| &nbsp;&nbsp;&nbsp; 1243557<br> <sup>(d)(l)(m)</sup><br>|
| *Total Media* | *Total Media* | *Total Media* | *Total Media* | &nbsp;&nbsp; *1925907* |
| **Total Communication Services** | **Total Communication Services** | **Total Communication Services** | **Total Communication Services** | &nbsp;&nbsp; **3458529** |
| **Consumer Discretionary — 2.1%** | **Consumer Discretionary — 2.1%** | **Consumer Discretionary — 2.1%** | **Consumer Discretionary — 2.1%** | **Consumer Discretionary — 2.1%** |
| *Automobile Components — 0.6%* | *Automobile Components — 0.6%* | *Automobile Components — 0.6%* | *Automobile Components — 0.6%* | *Automobile Components — 0.6%* |
| &nbsp;&nbsp;&nbsp; ABC Technologies Inc., Term Loan B | 11.922-11.966% | &nbsp;&nbsp; 1/2/40 | &nbsp;&nbsp; 1319729<br>| &nbsp;&nbsp;&nbsp; 1319728<br> <sup>(d)(e)(f)(l)(m)</sup><br>|
| &nbsp;&nbsp;&nbsp; Clarios Global LP, 2024 Term Loan B (1 mo. Term SOFR + 2.500%) | 6.216% | &nbsp;&nbsp; 5/6/30 | &nbsp;&nbsp; 990000<br>| &nbsp;&nbsp;&nbsp; 992579<br> <sup>(d)(l)(m)</sup><br>|
| &nbsp;&nbsp;&nbsp; First Brands Group LLC, 2022 Incremental Term Loan (1 mo. Term SOFR <br> + 7.114%) | 10.987% | &nbsp;&nbsp; 3/30/27 | &nbsp;&nbsp; 337240<br>| &nbsp;&nbsp;&nbsp; 1818<br> <sup>(d)(l)(m)</sup><br>|
| &nbsp;&nbsp;&nbsp; First Brands Group LLC, DIP Roll Up Term Loan (1 mo. Term SOFR + <br> 7.000%) | 10.843% | &nbsp;&nbsp; 6/29/26 | &nbsp;&nbsp; 430757<br>| &nbsp;&nbsp;&nbsp; 7538<br> <sup>(d)(l)(m)</sup><br>|
| &nbsp;&nbsp;&nbsp; First Brands Group LLC, USD DIP Term Loan (1 mo. Term SOFR + <br> 10.000%) | 13.843% | &nbsp;&nbsp; 6/29/26 | &nbsp;&nbsp; 149888<br>| &nbsp;&nbsp;&nbsp; 29603<br> <sup>(d)(l)(m)</sup><br>|
| *Total Automobile Components* | *Total Automobile Components* | *Total Automobile Components* | *Total Automobile Components* | &nbsp;&nbsp; *2351266* |

---

See Notes to Schedule of Investments.

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Western Asset High Income Opportunity Fund Inc. 2025 Quarterly Report

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 **Western Asset High Income Opportunity Fund Inc.**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount†<br>| Value |
| *Diversified Consumer Services — 0.4%* | *Diversified Consumer Services — 0.4%* | *Diversified Consumer Services — 0.4%* | *Diversified Consumer Services — 0.4%* | *Diversified Consumer Services — 0.4%* |
| &nbsp;&nbsp;&nbsp; Prime Security Services Borrower LLC, Term Loan B1 (1 mo. Term SOFR <br> + 2.000%) | 6.129% | &nbsp;&nbsp; 10/13/30 | &nbsp;&nbsp; 886975<br>| &nbsp;&nbsp;&nbsp; $889388<br> <sup>(d)(l)(m)</sup><br>|
| &nbsp;&nbsp;&nbsp; WW International Inc., Take-Back Term Loan (3 mo. Term SOFR + <br> 6.800%) | 10.489% | &nbsp;&nbsp; 6/24/30 | &nbsp;&nbsp; 868802<br>| &nbsp;&nbsp;&nbsp; 769511<br> <sup>(d)(l)(m)</sup><br>|
| *Total Diversified Consumer Services* | *Total Diversified Consumer Services* | *Total Diversified Consumer Services* | *Total Diversified Consumer Services* | &nbsp;&nbsp; *1658899* |
| *Hotels, Restaurants & Leisure — 0.8%* | *Hotels, Restaurants & Leisure — 0.8%* | *Hotels, Restaurants & Leisure — 0.8%* | *Hotels, Restaurants & Leisure — 0.8%* | *Hotels, Restaurants & Leisure — 0.8%* |
| &nbsp;&nbsp;&nbsp; 1011778 BC Unlimited Liability Co., Term Loan B6 (1 mo. Term SOFR + <br> 1.750%) | 5.466% | &nbsp;&nbsp; 9/20/30 | &nbsp;&nbsp; 942895<br>| &nbsp;&nbsp;&nbsp; 945252<br> <sup>(d)(l)(m)</sup><br>|
| &nbsp;&nbsp;&nbsp; Fertitta Entertainment LLC, Initial Term Loan B (1 mo. Term SOFR + <br> 3.250%) | 6.966% | &nbsp;&nbsp; 1/27/29 | &nbsp;&nbsp; 1224555<br>| &nbsp;&nbsp;&nbsp; 1225669<br> <sup>(d)(l)(m)</sup><br>|
| &nbsp;&nbsp;&nbsp; Station Casinos LLC, Term Loan Facility B (1 mo. Term SOFR + 2.000%) | 5.716% | &nbsp;&nbsp; 3/14/31 | &nbsp;&nbsp; 736875<br>| &nbsp;&nbsp;&nbsp; 740114<br> <sup>(d)(l)(m)</sup><br>|
| *Total Hotels, Restaurants & Leisure* | *Total Hotels, Restaurants & Leisure* | *Total Hotels, Restaurants & Leisure* | *Total Hotels, Restaurants & Leisure* | &nbsp;&nbsp; *2911035* |
| *Specialty Retail — 0.3%* | *Specialty Retail — 0.3%* | *Specialty Retail — 0.3%* | *Specialty Retail — 0.3%* | *Specialty Retail — 0.3%* |
| &nbsp;&nbsp;&nbsp; Petco Health and Wellness Co. Inc., First Lien Initial Term Loan (3 mo. <br> Term SOFR + 3.512%)  | 7.184% | &nbsp;&nbsp; 3/3/28 | &nbsp;&nbsp; 988030<br>| &nbsp;&nbsp;&nbsp;&nbsp; *979572*<br> <sup>(d)(l)(m)(n)</sup><br>|
| **Total Consumer Discretionary** | **Total Consumer Discretionary** | **Total Consumer Discretionary** | **Total Consumer Discretionary** | &nbsp;&nbsp; **7900772** |
| **Consumer Staples — 0.3%** | **Consumer Staples — 0.3%** | **Consumer Staples — 0.3%** | **Consumer Staples — 0.3%** | **Consumer Staples — 0.3%** |
| *Beverages — 0.3%* | *Beverages — 0.3%* | *Beverages — 0.3%* | *Beverages — 0.3%* | *Beverages — 0.3%* |
| &nbsp;&nbsp;&nbsp; Triton Water Holdings Inc., 2025 Refinancing Term Loan (3 mo. Term <br> SOFR + 2.250%)  | 5.922% | &nbsp;&nbsp; 3/31/28 | &nbsp;&nbsp; 1224809<br>| &nbsp;&nbsp;&nbsp;&nbsp; **1229715**<br> <sup>(d)(l)(m)</sup><br>|
| **Financials — 0.8%** | **Financials — 0.8%** | **Financials — 0.8%** | **Financials — 0.8%** | **Financials — 0.8%** |
| *Banks — 0.2%* | *Banks — 0.2%* | *Banks — 0.2%* | *Banks — 0.2%* | *Banks — 0.2%* |
| &nbsp;&nbsp;&nbsp; Ascensus Group Holdings Inc., 2024 Term Loan B (1 mo. Term SOFR + <br> 3.000%)  | 6.716% | &nbsp;&nbsp; 11/24/32 | &nbsp;&nbsp; 589010<br>| &nbsp;&nbsp;&nbsp;&nbsp; *589128*<br> <sup>(d)(l)(m)</sup><br>|
| *Consumer Finance — 0.1%* | *Consumer Finance — 0.1%* | *Consumer Finance — 0.1%* | *Consumer Finance — 0.1%* | *Consumer Finance — 0.1%* |
| &nbsp;&nbsp;&nbsp; Blackhawk Network Holdings Inc., Term Loan B (3 mo. Term SOFR + <br> 4.000%)  | 7.672% | &nbsp;&nbsp; 3/12/29 | &nbsp;&nbsp; 462974<br>| &nbsp;&nbsp;&nbsp;&nbsp; *465758*<br> <sup>(d)(l)(m)</sup><br>|
| *Financial Services — 0.5%* | *Financial Services — 0.5%* | *Financial Services — 0.5%* | *Financial Services — 0.5%* | *Financial Services — 0.5%* |
| &nbsp;&nbsp;&nbsp; Boost Newco Borrower LLC, Term Loan B2 (3 mo. Term SOFR + 2.000%) | 5.672% | &nbsp;&nbsp; 1/31/31 | &nbsp;&nbsp; 990019<br>| &nbsp;&nbsp;&nbsp; 992806<br> <sup>(d)(l)(m)</sup><br>|
| &nbsp;&nbsp;&nbsp; Nexus Buyer LLC, Amendment No. 10 Term Loan (1 mo. Term SOFR + <br> 4.000%) | 7.716% | &nbsp;&nbsp; 7/31/31 | &nbsp;&nbsp; 249375<br>| &nbsp;&nbsp;&nbsp; 247869<br> <sup>(d)(l)(m)</sup><br>|
| &nbsp;&nbsp;&nbsp; Nexus Buyer LLC, Amendment No. 9 Refinancing Term Loan (1 mo. <br> Term SOFR + 3.500%) | 7.216% | &nbsp;&nbsp; 7/31/31 | &nbsp;&nbsp; 691280<br>| &nbsp;&nbsp;&nbsp; 682677<br> <sup>(d)(l)(m)</sup><br>|
| *Total Financial Services* | *Total Financial Services* | *Total Financial Services* | *Total Financial Services* | &nbsp;&nbsp; *1923352* |
| **Total Financials** | **Total Financials** | **Total Financials** | **Total Financials** | &nbsp;&nbsp; **2978238** |
| **Health Care — 0.7%** | **Health Care — 0.7%** | **Health Care — 0.7%** | **Health Care — 0.7%** | **Health Care — 0.7%** |
| *Health Care Equipment & Supplies — 0.1%* | *Health Care Equipment & Supplies — 0.1%* | *Health Care Equipment & Supplies — 0.1%* | *Health Care Equipment & Supplies — 0.1%* | *Health Care Equipment & Supplies — 0.1%* |
| &nbsp;&nbsp;&nbsp; Medline Borrower LP, 2028 Refinancing Term Loan (1 mo. Term SOFR + <br> 1.750%)  | 5.466% | &nbsp;&nbsp; 10/23/28 | &nbsp;&nbsp; 397751<br>| &nbsp;&nbsp;&nbsp;&nbsp; *399380*<br> <sup>(d)(l)(m)</sup><br>|
| *Health Care Providers & Services — 0.6%* | *Health Care Providers & Services — 0.6%* | *Health Care Providers & Services — 0.6%* | *Health Care Providers & Services — 0.6%* | *Health Care Providers & Services — 0.6%* |
| &nbsp;&nbsp;&nbsp; LifePoint Health Inc., Term Loan B (3 mo. Term SOFR + 3.750%)  | 7.655% | &nbsp;&nbsp; 5/16/31 | &nbsp;&nbsp; 2468813<br>| &nbsp;&nbsp;&nbsp;&nbsp; *2479676*<br> <sup>(d)(l)(m)</sup><br>|
| **Total Health Care** | **Total Health Care** | **Total Health Care** | **Total Health Care** | &nbsp;&nbsp; **2879056** |
| **Industrials — 1.2%** | **Industrials — 1.2%** | **Industrials — 1.2%** | **Industrials — 1.2%** | **Industrials — 1.2%** |
| *Aerospace & Defense — 0.3%* | *Aerospace & Defense — 0.3%* | *Aerospace & Defense — 0.3%* | *Aerospace & Defense — 0.3%* | *Aerospace & Defense — 0.3%* |
| &nbsp;&nbsp;&nbsp; TransDigm Inc., Term Loan J (1 mo. Term SOFR + 2.500%)  | 6.216% | &nbsp;&nbsp; 2/28/31 | &nbsp;&nbsp; 982538<br>| &nbsp;&nbsp;&nbsp;&nbsp; *987337*<br> <sup>(d)(l)(m)</sup><br>|
| *Building Products — 0.3%* | *Building Products — 0.3%* | *Building Products — 0.3%* | *Building Products — 0.3%* | *Building Products — 0.3%* |
| &nbsp;&nbsp;&nbsp; ACProducts Holdings Inc., Initial Term Loan (3 mo. Term SOFR + <br> 4.512%) | 8.184% | &nbsp;&nbsp; 5/17/28 | &nbsp;&nbsp; 391795<br>| &nbsp;&nbsp;&nbsp; 321305<br> <sup>(d)(l)(m)</sup><br>|

---

See Notes to Schedule of Investments.

------

Western Asset High Income Opportunity Fund Inc. 2025 Quarterly Report

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Schedule of Investments (unaudited) (cont'd)

December 31, 2025

 **Western Asset High Income Opportunity Fund Inc.**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount†<br>| Value |
| *Building Products — continued* | *Building Products — continued* | *Building Products — continued* | *Building Products — continued* | *Building Products — continued* |
| &nbsp;&nbsp;&nbsp; Quikrete Holdings Inc., Term Loan B3 (1 mo. Term SOFR + 2.250%) | 5.966% | &nbsp;&nbsp; 2/10/32 | &nbsp;&nbsp; 893250<br>| &nbsp;&nbsp;&nbsp; $897015<br> <sup>(d)(l)(m)</sup><br>|
| *Total Building Products* | *Total Building Products* | *Total Building Products* | *Total Building Products* | &nbsp;&nbsp; *1218320* |
| *Machinery — 0.3%* | *Machinery — 0.3%* | *Machinery — 0.3%* | *Machinery — 0.3%* | *Machinery — 0.3%* |
| &nbsp;&nbsp;&nbsp; TK Elevator Midco GmbH, USD Term Loan B (6 mo. Term SOFR + <br> 2.750%)  | 6.947% | &nbsp;&nbsp; 4/30/30 | &nbsp;&nbsp; 980174<br>| &nbsp;&nbsp;&nbsp;&nbsp; *987383*<br> <sup>(d)(l)(m)</sup><br>|
| *Passenger Airlines — 0.3%* | *Passenger Airlines — 0.3%* | *Passenger Airlines — 0.3%* | *Passenger Airlines — 0.3%* | *Passenger Airlines — 0.3%* |
| &nbsp;&nbsp;&nbsp; Spirit Airlines LLC, Contingent DIP Facility |  | &nbsp;&nbsp; 1/1/30 | &nbsp;&nbsp; 1559051<br>| &nbsp;&nbsp;&nbsp; 635,625<br> \*<sup>(e)(f)(j)</sup><br>|
| &nbsp;&nbsp;&nbsp; Spirit Airlines LLC, New Money Term Loan (1 mo. Term SOFR + <br> 8.000%) | 11.750% | &nbsp;&nbsp; 1/2/40 | &nbsp;&nbsp; 340188<br>| &nbsp;&nbsp;&nbsp; 339125<br> <sup>(d)(l)(m)</sup><br>|
| &nbsp;&nbsp;&nbsp; Spirit Airlines LLC, Second New Money Term Loan |  | &nbsp;&nbsp; 7/14/26 | &nbsp;&nbsp; 84369<br>| &nbsp;&nbsp;&nbsp; 72980<br> <sup>(n)</sup><br>|
| &nbsp;&nbsp;&nbsp; Spirit Airlines LLC, Third DIP New Money Term Loan |  | &nbsp;&nbsp; 7/14/26 | &nbsp;&nbsp; 166632<br>| &nbsp;&nbsp;&nbsp; 166111<br> <sup>(n)</sup><br>|
| *Total Passenger Airlines* | *Total Passenger Airlines* | *Total Passenger Airlines* | *Total Passenger Airlines* | &nbsp;&nbsp; *1213841* |
| **Total Industrials** | **Total Industrials** | **Total Industrials** | **Total Industrials** | &nbsp;&nbsp; **4406881** |
| **Information Technology — 1.0%** | **Information Technology — 1.0%** | **Information Technology — 1.0%** | **Information Technology — 1.0%** | **Information Technology — 1.0%** |
| *Software — 1.0%* | *Software — 1.0%* | *Software — 1.0%* | *Software — 1.0%* | *Software — 1.0%* |
| &nbsp;&nbsp;&nbsp; Modena Buyer LLC, Initial Term Loan (3 mo. Term SOFR + 4.250%) | 8.090% | &nbsp;&nbsp; 7/1/31 | &nbsp;&nbsp; 792000<br>| &nbsp;&nbsp;&nbsp; 789461<br> <sup>(d)(l)(m)</sup><br>|
| &nbsp;&nbsp;&nbsp; Red Planet Borrower LLC, Initial Term Loan (1 mo. Term SOFR + <br> 4.000%) | 7.716% | &nbsp;&nbsp; 9/8/32 | &nbsp;&nbsp; 670000<br>| &nbsp;&nbsp;&nbsp; 672094<br> <sup>(d)(l)(m)</sup><br>|
| &nbsp;&nbsp;&nbsp; X.Ai Corp., Initial Term Loan | 12.500% | &nbsp;&nbsp; 6/30/28 | &nbsp;&nbsp; 2238750<br>| &nbsp;&nbsp;&nbsp; 2357919<br> <sup>(l)(m)</sup><br>|
| *Total Software* | *Total Software* | *Total Software* | *Total Software* | &nbsp;&nbsp; *3819474* |
| *Technology Hardware, Storage & Peripherals — 0.0%††* | *Technology Hardware, Storage & Peripherals — 0.0%††* | *Technology Hardware, Storage & Peripherals — 0.0%††* | *Technology Hardware, Storage & Peripherals — 0.0%††* | *Technology Hardware, Storage & Peripherals — 0.0%††* |
| &nbsp;&nbsp;&nbsp; Vericast Corp., 2024 Extended Term Loan (6 mo. Term SOFR + 7.750%)  | 11.622% | &nbsp;&nbsp; 6/14/30 | &nbsp;&nbsp; 32063<br>| &nbsp;&nbsp;&nbsp;&nbsp; *31211*<br> <sup>(d)(l)(m)</sup><br>|
| **Total Information Technology** | **Total Information Technology** | **Total Information Technology** | **Total Information Technology** | &nbsp;&nbsp; **3850685** |
| **Materials — 0.1%** | **Materials — 0.1%** | **Materials — 0.1%** | **Materials — 0.1%** | **Materials — 0.1%** |
| *Chemicals — 0.1%* | *Chemicals — 0.1%* | *Chemicals — 0.1%* | *Chemicals — 0.1%* | *Chemicals — 0.1%* |
| &nbsp;&nbsp;&nbsp; Hexion Holdings Corp., 2024 Refinancing Term Loan  |  | &nbsp;&nbsp; 3/15/29 | &nbsp;&nbsp; 500000<br>| &nbsp;&nbsp;&nbsp;&nbsp; **483483**<br> <sup>(n)</sup><br>|
| **Total Senior Loans (Cost — $28,550,838)** | **Total Senior Loans (Cost — $28,550,838)** | **Total Senior Loans (Cost — $28,550,838)** | **Total Senior Loans (Cost — $28,550,838)** | &nbsp;&nbsp; **27187359** |
| **Asset-Backed Securities — 7.1%** | **Asset-Backed Securities — 7.1%** | **Asset-Backed Securities — 7.1%** | **Asset-Backed Securities — 7.1%** | **Asset-Backed Securities — 7.1%** |
| &nbsp;&nbsp;&nbsp; 720 East CLO Ltd., 2025-7A E (3 mo. Term SOFR + 4.750%) | &nbsp;&nbsp; 8.634% | &nbsp;&nbsp; 4/20/37 | &nbsp;&nbsp; 390000<br>| &nbsp;&nbsp;&nbsp; 385772<br> <sup>(a)(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; AGL CLO Ltd., 2022-17A ER (3 mo. Term SOFR + 4.650%) | &nbsp;&nbsp; 8.520% | &nbsp;&nbsp; 1/21/35 | &nbsp;&nbsp; 1240000<br>| &nbsp;&nbsp;&nbsp; 1194158<br> <sup>(a)(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; AGL CLO Ltd., 2025-44A E (3 mo. Term SOFR + 4.750%) | &nbsp;&nbsp; 8.703% | &nbsp;&nbsp; 10/22/37 | &nbsp;&nbsp; 745000<br>| &nbsp;&nbsp;&nbsp; 748482<br> <sup>(a)(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; AMMC CLO Ltd., 2021-24A DR (3 mo. Term SOFR + 2.950%) | &nbsp;&nbsp; 6.834% | &nbsp;&nbsp; 1/20/35 | &nbsp;&nbsp; 480000<br>| &nbsp;&nbsp;&nbsp; 481194<br> <sup>(a)(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Apex Credit CLO LLC, 2021-2A CR (3 mo. Term SOFR + 3.750%) | &nbsp;&nbsp; 7.634% | &nbsp;&nbsp; 10/20/34 | &nbsp;&nbsp; 500000<br>| &nbsp;&nbsp;&nbsp; 500236<br> <sup>(a)(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Apex Credit CLO Ltd., 2019-2A ERR (3 mo. Term SOFR + 7.670%) | &nbsp;&nbsp; 11.528% | &nbsp;&nbsp; 1/25/38 | &nbsp;&nbsp; 820000<br>| &nbsp;&nbsp;&nbsp; 808081<br> <sup>(a)(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Apidos Loan Fund Ltd., 2024-1A D1R (3 mo. Term SOFR + 2.700%) | &nbsp;&nbsp; 6.827% | &nbsp;&nbsp; 10/25/38 | &nbsp;&nbsp; 610000<br>| &nbsp;&nbsp;&nbsp; 613412<br> <sup>(a)(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Balboa Bay Loan Funding Ltd., 2023-1A ERR (3 mo. Term SOFR + <br> 5.400%) | &nbsp;&nbsp; 9.284% | &nbsp;&nbsp; 4/20/36 | &nbsp;&nbsp; 980000<br>| &nbsp;&nbsp;&nbsp; 973391<br> <sup>(a)(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Bear Mountain Park CLO Ltd., 2022-1A ER (3 mo. Term SOFR + 5.950%) | &nbsp;&nbsp; 9.855% | &nbsp;&nbsp; 7/15/37 | &nbsp;&nbsp; 770000<br>| &nbsp;&nbsp;&nbsp; 773236<br> <sup>(a)(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Black Diamond CLO Ltd., 2021-1A CR (3 mo. Term SOFR + 3.900%) | &nbsp;&nbsp; 7.757% | &nbsp;&nbsp; 11/22/34 | &nbsp;&nbsp; 770000<br>| &nbsp;&nbsp;&nbsp; 773784<br> <sup>(a)(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; CarVal CLO Ltd., 2024-3A E (3 mo. Term SOFR + 6.350%) | &nbsp;&nbsp; 10.234% | &nbsp;&nbsp; 10/20/37 | &nbsp;&nbsp; 1020000<br>| &nbsp;&nbsp;&nbsp; 1035167<br> <sup>(a)(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; CIFC Funding Ltd., 2022-2A ER (3 mo. Term SOFR + 4.750%) | &nbsp;&nbsp; 8.634% | &nbsp;&nbsp; 4/19/35 | &nbsp;&nbsp; 300000<br>| &nbsp;&nbsp;&nbsp; 299331<br> <sup>(a)(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Clover CLO LLC, 2021-3A DR (3 mo. Term SOFR + 2.550%) | &nbsp;&nbsp; 6.408% | &nbsp;&nbsp; 1/25/35 | &nbsp;&nbsp; 480000<br>| &nbsp;&nbsp;&nbsp; 481209<br> <sup>(a)(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Dryden CLO Ltd., 2022-113A D1R3 (3 mo. Term SOFR + 3.000%) | &nbsp;&nbsp; 6.905% | &nbsp;&nbsp; 10/15/37 | &nbsp;&nbsp; 670000<br>| &nbsp;&nbsp;&nbsp; 674425<br> <sup>(a)(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Fort Greene Park CLO LLC, 2025-2A ER (3 mo. Term SOFR + 4.400%) | &nbsp;&nbsp; 8.257% | &nbsp;&nbsp; 4/22/34 | &nbsp;&nbsp; 1080000<br>| &nbsp;&nbsp;&nbsp; 1066013<br> <sup>(a)(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Galaxy CLO Ltd., 2018-25A D1RR (3 mo. Term SOFR + 2.700%) | &nbsp;&nbsp; 6.558% | &nbsp;&nbsp; 4/25/36 | &nbsp;&nbsp; 510000<br>| &nbsp;&nbsp;&nbsp; 510016<br> <sup>(a)(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; GoldenTree Loan Management US CLO Ltd., 2017-1A ER3 (3 mo. Term <br> SOFR + 4.500%) | &nbsp;&nbsp; 8.384% | &nbsp;&nbsp; 4/20/34 | &nbsp;&nbsp; 470000<br>| &nbsp;&nbsp;&nbsp; 463681<br> <sup>(a)(d)</sup><br>|

---

See Notes to Schedule of Investments.

------

Western Asset High Income Opportunity Fund Inc. 2025 Quarterly Report

------

 **Western Asset High Income Opportunity Fund Inc.**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount†<br>| Value |
| **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** |
| &nbsp;&nbsp;&nbsp; GoldenTree Loan Management US CLO Ltd., 2019-6A ER2 (3 mo. Term <br> SOFR + 4.500%) | &nbsp;&nbsp; 8.384% | &nbsp;&nbsp; 4/20/35 | &nbsp;&nbsp; 280000<br>| &nbsp;&nbsp;&nbsp; $273996<br> <sup>(a)(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; GoldenTree Loan Management US CLO Ltd., 2022-16A DRR (3 mo. <br> Term SOFR + 2.400%) | &nbsp;&nbsp; 6.284% | &nbsp;&nbsp; 1/20/38 | &nbsp;&nbsp; 1260000<br>| &nbsp;&nbsp;&nbsp; 1260184<br> <sup>(a)(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Golub Capital Partners CLO Ltd., 2024-76A E (3 mo. Term SOFR + <br> 5.750%) | &nbsp;&nbsp; 9.608% | &nbsp;&nbsp; 10/25/37 | &nbsp;&nbsp; 300000<br>| &nbsp;&nbsp;&nbsp; 302982<br> <sup>(a)(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Greywolf CLO Ltd., 2019-1A CR2 (3 mo. Term SOFR + 3.500%) | &nbsp;&nbsp; 7.382% | &nbsp;&nbsp; 4/17/34 | &nbsp;&nbsp; 390000<br>| &nbsp;&nbsp;&nbsp; 391402<br> <sup>(a)(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Invesco CLO Ltd., 2021-3A DR (3 mo. Term SOFR + 3.100%) | &nbsp;&nbsp; 6.957% | &nbsp;&nbsp; 10/22/34 | &nbsp;&nbsp; 530000<br>| &nbsp;&nbsp;&nbsp; 532016<br> <sup>(a)(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Jamestown CLO Ltd., 2016-9A CR3 (3 mo. Term SOFR + 3.250%) | &nbsp;&nbsp; 7.108% | &nbsp;&nbsp; 7/25/34 | &nbsp;&nbsp; 550000<br>| &nbsp;&nbsp;&nbsp; 546879<br> <sup>(a)(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Magnetite Ltd., 2019-24A ER (3 mo. Term SOFR + 6.400%) | &nbsp;&nbsp; 10.305% | &nbsp;&nbsp; 4/15/35 | &nbsp;&nbsp; 200000<br>| &nbsp;&nbsp;&nbsp; 201679<br> <sup>(a)(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Magnetite Ltd., 2020-26A ER2 (3 mo. Term SOFR + 4.700%) | &nbsp;&nbsp; 8.558% | &nbsp;&nbsp; 1/25/38 | &nbsp;&nbsp; 1050000<br>| &nbsp;&nbsp;&nbsp; 1050732<br> <sup>(a)(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Magnetite Ltd., 2022-32A ER (3 mo. Term SOFR + 4.600%) | &nbsp;&nbsp; 8.782% | &nbsp;&nbsp; 10/15/37 | &nbsp;&nbsp; 820000<br>| &nbsp;&nbsp;&nbsp; 820985<br> <sup>(a)(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; MidOcean Credit CLO LLC, 2025-18A E (3 mo. Term SOFR + 5.400%) | &nbsp;&nbsp; 9.718% | &nbsp;&nbsp; 10/18/35 | &nbsp;&nbsp; 910000<br>| &nbsp;&nbsp;&nbsp; 907510<br> <sup>(a)(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Mountain View CLO Ltd., 2025-1A D1 (3 mo. Term SOFR + 3.400%) | &nbsp;&nbsp; 7.228% | &nbsp;&nbsp; 10/17/38 | &nbsp;&nbsp; 540000<br>| &nbsp;&nbsp;&nbsp; 546034<br> <sup>(a)(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Nassau Ltd., 2021-IA DR (3 mo. Term SOFR + 3.600%) | &nbsp;&nbsp; 7.505% | &nbsp;&nbsp; 8/26/34 | &nbsp;&nbsp; 970000<br>| &nbsp;&nbsp;&nbsp; 970063<br> <sup>(a)(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Ocean Trails CLO Ltd., 2020-10A ER (3 mo. Term SOFR + 7.832%) | &nbsp;&nbsp; 11.736% | &nbsp;&nbsp; 10/15/34 | &nbsp;&nbsp; 1000000<br>| &nbsp;&nbsp;&nbsp; 988929<br> <sup>(a)(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Ocean Trails CLO Ltd., 2022-12A ER (3 mo. Term SOFR + 7.500%) | &nbsp;&nbsp; 11.384% | &nbsp;&nbsp; 7/20/35 | &nbsp;&nbsp; 600000<br>| &nbsp;&nbsp;&nbsp; 599074<br> <sup>(a)(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; OCP CLO Ltd., 2023-26A ER (3 mo. Term SOFR + 4.450%) | &nbsp;&nbsp; 8.332% | &nbsp;&nbsp; 4/17/37 | &nbsp;&nbsp; 600000<br>| &nbsp;&nbsp;&nbsp; 596481<br> <sup>(a)(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; OHA Credit Funding Ltd., 2022-11A D1R (3 mo. Term SOFR + 2.850%) | &nbsp;&nbsp; 6.734% | &nbsp;&nbsp; 7/19/37 | &nbsp;&nbsp; 220000<br>| &nbsp;&nbsp;&nbsp; 220920<br> <sup>(a)(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Palmer Square CLO Ltd., 2022-3A D1R (3 mo. Term SOFR + 2.950%) | &nbsp;&nbsp; 6.834% | &nbsp;&nbsp; 7/20/37 | &nbsp;&nbsp; 310000<br>| &nbsp;&nbsp;&nbsp; 310993<br> <sup>(a)(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Palmer Square Loan Funding Ltd., 2024-1A D (3 mo. Term SOFR + <br> 4.900%) | &nbsp;&nbsp; 8.805% | &nbsp;&nbsp; 10/15/32 | &nbsp;&nbsp; 550000<br>| &nbsp;&nbsp;&nbsp; 548493<br> <sup>(a)(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Peace Park CLO Ltd., 2021-1A ER (3 mo. Term SOFR + 4.900%) | &nbsp;&nbsp; 8.784% | &nbsp;&nbsp; 10/20/38 | &nbsp;&nbsp; 520000<br>| &nbsp;&nbsp;&nbsp; 516236<br> <sup>(a)(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; RAD CLO Ltd., 2023-21A D1R (3 mo. Term SOFR + 2.600%) | &nbsp;&nbsp; 6.458% | &nbsp;&nbsp; 1/25/37 | &nbsp;&nbsp; 1140000<br>| &nbsp;&nbsp;&nbsp; 1131450<br> <sup>(a)(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; RR Ltd., 2021-18A DR (3 mo. Term SOFR + 4.900%) | &nbsp;&nbsp; 8.805% | &nbsp;&nbsp; 7/15/40 | &nbsp;&nbsp; 800000<br>| &nbsp;&nbsp;&nbsp; 807905<br> <sup>(a)(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Trestles CLO Ltd., 2025-8A E (3 mo. Term SOFR + 5.500%) | &nbsp;&nbsp; 9.797% | &nbsp;&nbsp; 6/11/35 | &nbsp;&nbsp; 390000<br>| &nbsp;&nbsp;&nbsp; 391796<br> <sup>(a)(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Trinitas CLO Ltd., 2024-27A D1 (3 mo. Term SOFR + 4.300%) | &nbsp;&nbsp; 8.184% | &nbsp;&nbsp; 4/18/37 | &nbsp;&nbsp; 280000<br>| &nbsp;&nbsp;&nbsp; 282788<br> <sup>(a)(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Voya CLO Ltd., 2020-3A D1RR (3 mo. Term SOFR + 2.700%) | &nbsp;&nbsp; 6.570% | &nbsp;&nbsp; 1/20/38 | &nbsp;&nbsp; 430000<br>| &nbsp;&nbsp;&nbsp; 431844<br> <sup>(a)(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Warwick Capital CLO Ltd., 2024-3A D (3 mo. Term SOFR + 4.500%) | &nbsp;&nbsp; 8.384% | &nbsp;&nbsp; 4/20/37 | &nbsp;&nbsp; 140000<br>| &nbsp;&nbsp;&nbsp; 141035<br> <sup>(a)(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Wellesley Park CLO Ltd., 2025-1A E (3 mo. Term SOFR + 4.600%) | &nbsp;&nbsp; 8.507% | &nbsp;&nbsp; 1/24/39 | &nbsp;&nbsp; 390000<br>| &nbsp;&nbsp;&nbsp; 387058<br> <sup>(a)(d)</sup><br>|
| **Total Asset-Backed Securities (Cost — $27,016,785)** | **Total Asset-Backed Securities (Cost — $27,016,785)** | **Total Asset-Backed Securities (Cost — $27,016,785)** | **Total Asset-Backed Securities (Cost — $27,016,785)** | &nbsp;&nbsp; **26941052** |
| **Sovereign Bonds — 1.3%** | **Sovereign Bonds — 1.3%** | **Sovereign Bonds — 1.3%** | **Sovereign Bonds — 1.3%** | **Sovereign Bonds — 1.3%** |
| *Angola — 0.4%* | *Angola — 0.4%* | *Angola — 0.4%* | *Angola — 0.4%* | *Angola — 0.4%* |
| &nbsp;&nbsp;&nbsp; Angolan Government International Bond, Senior Notes | &nbsp;&nbsp; 8.000% | &nbsp;&nbsp; 11/26/29 | &nbsp;&nbsp; 1600000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *1564348*<br> <sup>(a)</sup><br>|
| *Argentina — 0.4%* | *Argentina — 0.4%* | *Argentina — 0.4%* | *Argentina — 0.4%* | *Argentina — 0.4%* |
| &nbsp;&nbsp;&nbsp; Provincia de Buenos Aires, Senior Notes | &nbsp;&nbsp; 6.625% | &nbsp;&nbsp; 9/1/37 | &nbsp;&nbsp; 345521<br>| &nbsp;&nbsp;&nbsp; 266113<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Provincia de Cordoba, Senior Notes | &nbsp;&nbsp; 6.990% | &nbsp;&nbsp; 6/1/27 | &nbsp;&nbsp; 1020000<br>| &nbsp;&nbsp;&nbsp; 1014900<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Provincia de Cordoba, Senior Notes | &nbsp;&nbsp; 6.875% | &nbsp;&nbsp; 2/1/29 | &nbsp;&nbsp; 340000<br>| &nbsp;&nbsp;&nbsp; 325992<br> <sup>(a)</sup><br>|
| *Total Argentina* | *Total Argentina* | *Total Argentina* | *Total Argentina* | &nbsp;&nbsp; *1607005* |
| *Bahamas — 0.5%* | *Bahamas — 0.5%* | *Bahamas — 0.5%* | *Bahamas — 0.5%* | *Bahamas — 0.5%* |
| &nbsp;&nbsp;&nbsp; Bahamas Government International Bond, Senior Notes | &nbsp;&nbsp; 6.950% | &nbsp;&nbsp; 11/20/29 | &nbsp;&nbsp; 1630000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *1678085*<br> <sup>(a)</sup><br>|
| **Total Sovereign Bonds (Cost — $3,918,515)** | **Total Sovereign Bonds (Cost — $3,918,515)** | **Total Sovereign Bonds (Cost — $3,918,515)** | **Total Sovereign Bonds (Cost — $3,918,515)** | &nbsp;&nbsp; **4849438** |

---

See Notes to Schedule of Investments.

------

Western Asset High Income Opportunity Fund Inc. 2025 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

December 31, 2025

 **Western Asset High Income Opportunity Fund Inc.**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security |  |  | Shares | Value |
| **Common Stocks — 0.4%** | **Common Stocks — 0.4%** | **Common Stocks — 0.4%** | **Common Stocks — 0.4%** | **Common Stocks — 0.4%** |
| **Communication Services — 0.2%** | **Communication Services — 0.2%** | **Communication Services — 0.2%** | **Communication Services — 0.2%** | **Communication Services — 0.2%** |
| *Diversified Telecommunication Services — 0.2%* | *Diversified Telecommunication Services — 0.2%* | *Diversified Telecommunication Services — 0.2%* | *Diversified Telecommunication Services — 0.2%* | *Diversified Telecommunication Services — 0.2%* |
| &nbsp;&nbsp;&nbsp; Altice France Luxco | &nbsp;&nbsp;&nbsp; Altice France Luxco |  | &nbsp;&nbsp; 54456 | &nbsp;&nbsp;&nbsp; **$980,749**<br> \*<br>|
| **Consumer Discretionary — 0.2%** | **Consumer Discretionary — 0.2%** | **Consumer Discretionary — 0.2%** | **Consumer Discretionary — 0.2%** | **Consumer Discretionary — 0.2%** |
| *Diversified Consumer Services — 0.2%* | *Diversified Consumer Services — 0.2%* | *Diversified Consumer Services — 0.2%* | *Diversified Consumer Services — 0.2%* | *Diversified Consumer Services — 0.2%* |
| &nbsp;&nbsp;&nbsp; WW International Inc. | &nbsp;&nbsp;&nbsp; WW International Inc. |  | &nbsp;&nbsp; 24439 | &nbsp;&nbsp;&nbsp; **713,985**<br> \*<br>|
| **Industrials — 0.0%††** | **Industrials — 0.0%††** | **Industrials — 0.0%††** | **Industrials — 0.0%††** | **Industrials — 0.0%††** |
| *Passenger Airlines — 0.0%††* | *Passenger Airlines — 0.0%††* | *Passenger Airlines — 0.0%††* | *Passenger Airlines — 0.0%††* | *Passenger Airlines — 0.0%††* |
| &nbsp;&nbsp;&nbsp; Spirit Airlines LLC | &nbsp;&nbsp;&nbsp; Spirit Airlines LLC |  | &nbsp;&nbsp; 346 | &nbsp;&nbsp;&nbsp; 87<br> \*<sup>(e)(o)</sup><br>|
| &nbsp;&nbsp;&nbsp; Spirit Aviation Holdings Inc. | &nbsp;&nbsp;&nbsp; Spirit Aviation Holdings Inc. |  | &nbsp;&nbsp; 59529 | &nbsp;&nbsp;&nbsp; 14,942<br> \*<br>|
| **Total Industrials** | **Total Industrials** | **Total Industrials** | **Total Industrials** | &nbsp;&nbsp; **15029** |
| **Real Estate — 0.0%††** | **Real Estate — 0.0%††** | **Real Estate — 0.0%††** | **Real Estate — 0.0%††** | **Real Estate — 0.0%††** |
| *Real Estate Management & Development — 0.0%††* | *Real Estate Management & Development — 0.0%††* | *Real Estate Management & Development — 0.0%††* | *Real Estate Management & Development — 0.0%††* | *Real Estate Management & Development — 0.0%††* |
| &nbsp;&nbsp;&nbsp; China Aoyuan Group Ltd. | &nbsp;&nbsp;&nbsp; China Aoyuan Group Ltd. |  | &nbsp;&nbsp; 112573 | &nbsp;&nbsp;&nbsp; **958**<br> \*<sup>(e)</sup><br>|
| **Total Common Stocks (Cost — $1,253,845)** | **Total Common Stocks (Cost — $1,253,845)** | **Total Common Stocks (Cost — $1,253,845)** | **Total Common Stocks (Cost — $1,253,845)** | &nbsp;&nbsp;&nbsp; **1710721**<br>|
|  | Rate |  |  |  |
| **Preferred Stocks — 0.4%** | **Preferred Stocks — 0.4%** | **Preferred Stocks — 0.4%** | **Preferred Stocks — 0.4%** | **Preferred Stocks — 0.4%** |
| **Financials — 0.4%** | **Financials — 0.4%** | **Financials — 0.4%** | **Financials — 0.4%** | **Financials — 0.4%** |
| *Mortgage Real Estate Investment Trusts (REITs) — 0.4%* | *Mortgage Real Estate Investment Trusts (REITs) — 0.4%* | *Mortgage Real Estate Investment Trusts (REITs) — 0.4%* | *Mortgage Real Estate Investment Trusts (REITs) — 0.4%* | *Mortgage Real Estate Investment Trusts (REITs) — 0.4%* |
| &nbsp;&nbsp;&nbsp; AGNC Investment Corp., Non Voting Shares (3 mo. Term SOFR + <br> 4.959%) | &nbsp;&nbsp; 8.863% |  | &nbsp;&nbsp; 32708 | &nbsp;&nbsp;&nbsp; 802654<br> <sup>(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Chimera Investment Corp., Non Voting Shares (3 mo. Term SOFR + <br> 5.005%) | &nbsp;&nbsp; 8.690% |  | &nbsp;&nbsp; 10320 | &nbsp;&nbsp;&nbsp; 220126<br> <sup>(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; MFA Financial Inc., Non Voting Shares (3 mo. Term SOFR + 5.607%) | &nbsp;&nbsp; 9.258% |  | &nbsp;&nbsp; 18881 | &nbsp;&nbsp;&nbsp; 430864<br> <sup>(d)</sup><br>|
| **Total Preferred Stocks (Cost — $1,521,861)** | **Total Preferred Stocks (Cost — $1,521,861)** | **Total Preferred Stocks (Cost — $1,521,861)** | **Total Preferred Stocks (Cost — $1,521,861)** | &nbsp;&nbsp; **1453644** |
|  |  | Maturity <br>Date<br>| Face <br>Amount†<br>|  |
| **Convertible Bonds & Notes — 0.3%** | **Convertible Bonds & Notes — 0.3%** | **Convertible Bonds & Notes — 0.3%** | **Convertible Bonds & Notes — 0.3%** | **Convertible Bonds & Notes — 0.3%** |
| **Communication Services — 0.2%** | **Communication Services — 0.2%** | **Communication Services — 0.2%** | **Communication Services — 0.2%** | **Communication Services — 0.2%** |
| *Media — 0.2%* | *Media — 0.2%* | *Media — 0.2%* | *Media — 0.2%* | *Media — 0.2%* |
| &nbsp;&nbsp;&nbsp; EchoStar Corp., Senior Secured Notes (3.875% Cash or 3.875% PIK) | &nbsp;&nbsp; 3.875% | &nbsp;&nbsp; 11/30/30 | &nbsp;&nbsp; 160068<br>| &nbsp;&nbsp;&nbsp;&nbsp; **535026**<br> <sup>(b)</sup><br>|
| **Consumer Discretionary — 0.1%** | **Consumer Discretionary — 0.1%** | **Consumer Discretionary — 0.1%** | **Consumer Discretionary — 0.1%** | **Consumer Discretionary — 0.1%** |
| *Hotels, Restaurants & Leisure — 0.1%* | *Hotels, Restaurants & Leisure — 0.1%* | *Hotels, Restaurants & Leisure — 0.1%* | *Hotels, Restaurants & Leisure — 0.1%* | *Hotels, Restaurants & Leisure — 0.1%* |
| &nbsp;&nbsp;&nbsp; NCL Corp. Ltd., Senior Notes | &nbsp;&nbsp; 1.125% | &nbsp;&nbsp; 2/15/27 | &nbsp;&nbsp; 250000<br>| &nbsp;&nbsp;&nbsp; **250000**<br>|
| **Industrials — 0.0%††** | **Industrials — 0.0%††** | **Industrials — 0.0%††** | **Industrials — 0.0%††** | **Industrials — 0.0%††** |
| *Aerospace & Defense — 0.0%††* | *Aerospace & Defense — 0.0%††* | *Aerospace & Defense — 0.0%††* | *Aerospace & Defense — 0.0%††* | *Aerospace & Defense — 0.0%††* |
| &nbsp;&nbsp;&nbsp; AeroVironment Inc., Senior Notes | &nbsp;&nbsp; 0.000% | &nbsp;&nbsp; 7/15/30 | &nbsp;&nbsp; 52000<br>| &nbsp;&nbsp;&nbsp; **56550**<br>|
| **Information Technology — 0.0%††** | **Information Technology — 0.0%††** | **Information Technology — 0.0%††** | **Information Technology — 0.0%††** | **Information Technology — 0.0%††** |
| *IT Services — 0.0%††* | *IT Services — 0.0%††* | *IT Services — 0.0%††* | *IT Services — 0.0%††* | *IT Services — 0.0%††* |
| &nbsp;&nbsp;&nbsp; CoreWeave Inc., Senior Notes | &nbsp;&nbsp; 1.750% | &nbsp;&nbsp; 12/1/31 | &nbsp;&nbsp; 160000<br>| &nbsp;&nbsp;&nbsp;&nbsp; **151800**<br> <sup>(a)</sup><br>|
| **Real Estate — 0.0%††** | **Real Estate — 0.0%††** | **Real Estate — 0.0%††** | **Real Estate — 0.0%††** | **Real Estate — 0.0%††** |
| *Real Estate Management & Development — 0.0%††* | *Real Estate Management & Development — 0.0%††* | *Real Estate Management & Development — 0.0%††* | *Real Estate Management & Development — 0.0%††* | *Real Estate Management & Development — 0.0%††* |
| &nbsp;&nbsp;&nbsp; China Aoyuan Group Ltd., Senior Notes | &nbsp;&nbsp; 0.000% | &nbsp;&nbsp; 9/30/28 | &nbsp;&nbsp; 40243<br>| &nbsp;&nbsp;&nbsp;&nbsp; **503**<br> <sup>(g)</sup><br>|
| **Total Convertible Bonds & Notes (Cost — $631,070)** | **Total Convertible Bonds & Notes (Cost — $631,070)** | **Total Convertible Bonds & Notes (Cost — $631,070)** | **Total Convertible Bonds & Notes (Cost — $631,070)** | &nbsp;&nbsp; **993879** |
| **Collateralized Mortgage Obligations**<sup>(p)</sup> **— 0.1%** | **Collateralized Mortgage Obligations**<sup>(p)</sup> **— 0.1%** | **Collateralized Mortgage Obligations**<sup>(p)</sup> **— 0.1%** | **Collateralized Mortgage Obligations**<sup>(p)</sup> **— 0.1%** | **Collateralized Mortgage Obligations**<sup>(p)</sup> **— 0.1%** |
| &nbsp;&nbsp;&nbsp; LHOME Mortgage Trust, 2025-RTL1 M1 (Cost — $529,997) | &nbsp;&nbsp; 7.023% | &nbsp;&nbsp; 1/25/40 | &nbsp;&nbsp; 530000 | &nbsp;&nbsp;&nbsp;&nbsp; **537829**<br> <sup>(a)(d)</sup><br>|

---

See Notes to Schedule of Investments.

------

Western Asset High Income Opportunity Fund Inc. 2025 Quarterly Report

------

 **Western Asset High Income Opportunity Fund Inc.**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security |  | Expiration <br>Date <br>| Rights | Value |
| **Rights — 0.0%††** | **Rights — 0.0%††** | **Rights — 0.0%††** | **Rights — 0.0%††** | **Rights — 0.0%††** |
| **Communication Services — 0.0%††** | **Communication Services — 0.0%††** | **Communication Services — 0.0%††** | **Communication Services — 0.0%††** | **Communication Services — 0.0%††** |
| *Diversified Telecommunication Services — 0.0%††* | *Diversified Telecommunication Services — 0.0%††* | *Diversified Telecommunication Services — 0.0%††* | *Diversified Telecommunication Services — 0.0%††* | *Diversified Telecommunication Services — 0.0%††* |
| &nbsp;&nbsp;&nbsp; Altice France Luxco (Cost — $0) |  | &nbsp;&nbsp; — | &nbsp;&nbsp; 4046 | &nbsp;&nbsp;&nbsp; **$67,163**<br> \*<br>|
|  |  |  | Warrants |  |
| **Warrants — 0.0%††** | **Warrants — 0.0%††** | **Warrants — 0.0%††** | **Warrants — 0.0%††** | **Warrants — 0.0%††** |
| **Industrials — 0.0%††** | **Industrials — 0.0%††** | **Industrials — 0.0%††** | **Industrials — 0.0%††** | **Industrials — 0.0%††** |
| *Passenger Airlines — 0.0%††* | *Passenger Airlines — 0.0%††* | *Passenger Airlines — 0.0%††* | *Passenger Airlines — 0.0%††* | *Passenger Airlines — 0.0%††* |
| &nbsp;&nbsp;&nbsp; Spirit Airlines LLC (Cost — $514,884) |  | &nbsp;&nbsp; 3/12/30 | &nbsp;&nbsp; 42296<br>| &nbsp;&nbsp;&nbsp; **10,616**<br> \*<sup>(a)(e)(o)</sup><br>|
| **Total Investments before Short-Term Investments (Cost — $356,882,797)** | **Total Investments before Short-Term Investments (Cost — $356,882,797)** | **Total Investments before Short-Term Investments (Cost — $356,882,797)** | **Total Investments before Short-Term Investments (Cost — $356,882,797)** | &nbsp;&nbsp; **376249920** |
|  | Rate |  | Shares |  |
| **Short-Term Investments — 0.3%** | **Short-Term Investments — 0.3%** | **Short-Term Investments — 0.3%** | **Short-Term Investments — 0.3%** | **Short-Term Investments — 0.3%** |
| &nbsp;&nbsp;&nbsp; Western Asset Premier Institutional Government Reserves, Premium <br> Shares (Cost — $986,694)  | &nbsp;&nbsp; 3.739% |  | &nbsp;&nbsp; 986694<br>| &nbsp;&nbsp;&nbsp;&nbsp; **986694**<br> <sup>(q)(r)</sup><br>|
| **Total Investments — 99.0% (Cost — $357,869,491)** | **Total Investments — 99.0% (Cost — $357,869,491)** | **Total Investments — 99.0% (Cost — $357,869,491)** | **Total Investments — 99.0% (Cost — $357,869,491)** | &nbsp;&nbsp; **377236614** |
| &nbsp;&nbsp;&nbsp; Other Assets in Excess of Liabilities — 1.0% | &nbsp;&nbsp;&nbsp; Other Assets in Excess of Liabilities — 1.0% | &nbsp;&nbsp;&nbsp; Other Assets in Excess of Liabilities — 1.0% | &nbsp;&nbsp;&nbsp; Other Assets in Excess of Liabilities — 1.0% | &nbsp;&nbsp;&nbsp; 3758039 |
| **Total Net Assets — 100.0%** | **Total Net Assets — 100.0%** | **Total Net Assets — 100.0%** | **Total Net Assets — 100.0%** | &nbsp;&nbsp; **$380994653** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

See Notes to Schedule of Investments.

------

Western Asset High Income Opportunity Fund Inc. 2025 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

December 31, 2025

 **Western Asset High Income Opportunity Fund Inc.**

---

| | |
|:---|:---|
| † | Face amount denominated in U.S. dollars, unless otherwise noted. |
| †† | Represents less than 0.1%. |
| \* | Non-income producing security. |
| <sup>(a)</sup> | Security is exempt from registration under Rule 144A of the Securities Act of 1933. This security may be resold in transactions that are exempt from <br> registration, normally to qualified institutional buyers. This security has been deemed liquid pursuant to guidelines approved by the Board of Directors.<br>|
| <sup>(b)</sup> | Payment-in-kind security for which the issuer has the option at each interest payment date of making interest payments in cash or additional securities.  |
| <sup>(c)</sup> | Security has no maturity date. The date shown represents the next call date. |
| <sup>(d)</sup> | Variable rate security. Interest rate disclosed is as of the most recent information available. Certain variable rate securities are not based on a published <br> reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a <br> reference rate and spread in their description above.<br>|
| <sup>(e)</sup> | Security is fair valued in accordance with procedures approved by the Board of Directors (Note 1). |
| <sup>(f)</sup> | Security is valued using significant unobservable inputs (Note 1). |
| <sup>(g)</sup> | Security is exempt from registration under Regulation S of the Securities Act of 1933. Regulation S applies to securities offerings that are made outside of <br> the United States and do not involve direct selling efforts in the United States. This security has been deemed liquid pursuant to guidelines approved by the <br> Board of Directors.<br>|
| <sup>(h)</sup> | Value is less than $1. |
| <sup>(i)</sup> | Securities traded on a when-issued or delayed delivery basis. |
| <sup>(j)</sup> | The coupon payment on this security is currently in default as of December 31, 2025. |
| <sup>(k)</sup> | The maturity principal is currently in default as of December 31, 2025. |
| <sup>(l)</sup> | Interest rates disclosed represent the effective rates on senior loans. Ranges in interest rates are attributable to multiple contracts under the same loan. |
| <sup>(m)</sup> | Senior loans may be considered restricted in that the Fund ordinarily is contractually obligated to receive approval from the agent bank and/or borrower <br> prior to the disposition of a senior loan. <br>|
| <sup>(n)</sup> | All or a portion of this loan has not settled as of December 31, 2025. Interest rates are not effective until settlement date. Interest rates shown, if any, are <br> for the settled portion of the loan.<br>|
| <sup>(o)</sup> | Restricted security (Note 3). |
| <sup>(p)</sup> | Collateralized mortgage obligations are secured by an underlying pool of mortgages or mortgage pass-through certificates that are structured to direct <br> payments on underlying collateral to different series or classes of the obligations. The interest rate may change positively or inversely in relation to one or <br> more interest rates, financial indices or other financial indicators and may be subject to an upper and/or lower limit.<br>|
| <sup>(q)</sup> | Rate shown is one-day yield as of the end of the reporting period.  |
| <sup>(r)</sup> | In this instance, as defined in the Investment Company Act of 1940, an "Affiliated Company" represents Fund ownership of at least 5% of the outstanding <br> voting securities of an issuer, or a company which is under common ownership or control with the Fund. At December 31, 2025, the total market value of <br> investments in Affiliated Companies was $986,694 and the cost was $986,694 (Note 2).<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Abbreviation(s) used in this schedule:** | **Abbreviation(s) used in this schedule:** | **Abbreviation(s) used in this schedule:** |
| CLO |  | Collateralized Loan Obligation |
| DAC |  | Designated Activity Company |
| DIP |  | Debtor-in-possession |
| EUR |  | Euro |
| GBP |  | British Pound |
| LIBOR |  | London Interbank Offered Rate |
| PIK |  | Payment-In-Kind |
| SOFR |  | Secured Overnight Financing Rate |
| USD |  | United States Dollar |

---

This Schedule of Investments is unaudited and is intended to provide information about the Fund's investments as of the date of the schedule. Other information regarding the Fund is available in the Fund's most recent annual or semi-annual shareholder report.

See Notes to Schedule of Investments.

------

Western Asset High Income Opportunity Fund Inc. 2025 Quarterly Report

------

Notes to Schedule of Investments (unaudited)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**1. Organization and significant accounting policies** 

Western Asset High Income Opportunity Fund Inc. (the "Fund") was incorporated in Maryland and is registered as a diversified, closed-end management investment company under the Investment Company Act of 1940, as amended (the "1940 Act"). The Fund seeks high current income. Capital appreciation is a secondary objective. In seeking to fulfill its investment objectives, the Fund invests, under normal market conditions, at least 80% of its net assets in high-yield securities and up to 20% in common stock equivalents, including options, warrants and rights.

The Fund follows the accounting and reporting guidance in Financial Accounting Standards Board ("FASB") Accounting Standards Codification Topic 946, *Financial Services – Investment Companies* ("ASC 946"). The following are significant accounting policies consistently followed by the Fund and are in conformity with U.S. generally accepted accounting principles ("GAAP"), including, but not limited to, ASC 946.

**(a) Investment valuation.** The valuations for fixed income securities (which may include, but are not limited to, corporate, government, municipal, mortgage-backed, collateralized mortgage obligations and asset-backed securities) and certain derivative instruments are typically the prices supplied by independent third party pricing services, which may use market prices or broker/dealer quotations or a variety of valuation techniques and methodologies. The independent third party pricing services typically use inputs that are observable such as issuer details, interest rates, yield curves, prepayment speeds, credit risks/spreads, default rates and quoted prices for similar securities. Investments in open-end funds are valued at the closing net asset value per share of each fund on the day of valuation. Equity securities for which market quotations are available are valued at the last reported sales price or official closing price on the primary market or exchange on which they trade. When the Fund holds securities or other assets that are denominated in a foreign currency, the Fund will normally use the currency exchange rates as of 4:00 p.m. (Eastern Time). If independent third party pricing services are unable to supply prices for a portfolio investment, or if the prices supplied are deemed by the manager to be unreliable, the market price may be determined by the manager using quotations from one or more broker/dealers or at the transaction price if the security has recently been purchased and no value has yet been obtained from a pricing service or pricing broker. When reliable prices are not readily available, such as when the value of a security has been significantly affected by events after the close of the exchange or market on which the security is principally traded, but before the Fund calculates its net asset value, the Fund values these securities as determined in accordance with procedures approved by the Fund's Board of Directors (the "Board").

Pursuant to policies adopted by the Board, the Fund's manager has been designated as the valuation designee and is responsible for the oversight of the daily valuation process. The Fund's manager is assisted by the Global Fund Valuation Committee (the "Valuation Committee"). The Valuation Committee is responsible for making fair value determinations, evaluating the effectiveness of the Fund's pricing policies, and reporting to the Fund's manager and the Board. When determining the reliability of third party pricing information for investments owned by the Fund, the Valuation Committee, among other things, conducts due diligence reviews of pricing vendors, monitors the daily change in prices and reviews transactions among market participants.

The Valuation Committee will consider pricing methodologies it deems relevant and appropriate when making fair value determinations. Examples of possible methodologies include, but are not limited to, multiple of earnings; discount from market of a similar freely traded security; discounted cash-flow analysis; book value or a multiple thereof; risk premium/yield analysis; yield to maturity; and/or fundamental investment analysis. The Valuation Committee will also consider factors it deems relevant and appropriate in light of the facts and circumstances. Examples of possible factors include, but are not limited to, the type of security; the issuer's financial statements; the purchase price of the security; the discount from market value of unrestricted securities of the same class at the time of purchase; analysts' research and observations from financial institutions; information regarding any transactions or offers with respect to the security; the existence of merger proposals or tender offers affecting the security; the price and extent of public trading in similar securities of the issuer or comparable companies; and the existence of a shelf registration for restricted securities.

For each portfolio security that has been fair valued pursuant to the policies adopted by the Board, the fair value price is compared against the last available and next available market quotations. The Valuation Committee reviews the results of such back testing monthly and fair valuation occurrences are reported to the Board quarterly.

The Fund uses valuation techniques to measure fair value that are consistent with the market approach and/or income approach, depending on the type of security and the particular circumstance. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable securities. The income approach uses valuation techniques to discount estimated future cash flows to present value.

------

Western Asset High Income Opportunity Fund Inc. 2025 Quarterly Report

------

Notes to Schedule of Investments (unaudited) (cont'd)

GAAP establishes a disclosure hierarchy that categorizes the inputs to valuation techniques used to value assets and liabilities at measurement date. These inputs are summarized in the three broad levels listed below:

• Level 1 — unadjusted quoted prices in active markets for identical investments

• Level 2 — other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)

• Level 3 — significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments)

The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.

The following is a summary of the inputs used in valuing the Fund's assets carried at fair value: <br>

---

| | | | | |
|:---|:---|:---|:---|:---|
| **ASSETS** | **ASSETS** | **ASSETS** | **ASSETS** | **ASSETS** |
| Description | &nbsp;&nbsp; Quoted Prices <br>(Level 1)<br>| &nbsp;&nbsp; Other Significant <br>Observable Inputs <br>(Level 2)<br>| &nbsp;&nbsp; Significant <br>Unobservable <br>Inputs <br>(Level 3)<br>| Total |
| Long-Term Investments†: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Corporate Bonds & Notes: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energy | &nbsp;&nbsp; — | &nbsp;&nbsp; $59594975 | &nbsp;&nbsp; $924757 | &nbsp;&nbsp; $60519732 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financials | &nbsp;&nbsp; — | &nbsp;&nbsp; 30327143 | &nbsp;&nbsp; 0<br> \*<br>| &nbsp;&nbsp; 30327143 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other Corporate Bonds & Notes | &nbsp;&nbsp; — | &nbsp;&nbsp; 221651344 | &nbsp;&nbsp; — | &nbsp;&nbsp; 221651344 |
| &nbsp;&nbsp;&nbsp; Senior Loans: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer Discretionary | &nbsp;&nbsp; — | &nbsp;&nbsp; 6581044 | &nbsp;&nbsp; 1319728 | &nbsp;&nbsp; 7900772 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industrials | &nbsp;&nbsp; — | &nbsp;&nbsp; 3771256 | &nbsp;&nbsp; 635625 | &nbsp;&nbsp; 4406881 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other Senior Loans | &nbsp;&nbsp; — | &nbsp;&nbsp; 14879706 | &nbsp;&nbsp; — | &nbsp;&nbsp; 14879706 |
| &nbsp;&nbsp;&nbsp; Asset-Backed Securities | &nbsp;&nbsp; — | &nbsp;&nbsp; 26941052 | &nbsp;&nbsp; — | &nbsp;&nbsp; 26941052 |
| &nbsp;&nbsp;&nbsp; Sovereign Bonds | &nbsp;&nbsp; — | &nbsp;&nbsp; 4849438 | &nbsp;&nbsp; — | &nbsp;&nbsp; 4849438 |
| &nbsp;&nbsp;&nbsp; Common Stocks: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer Discretionary | &nbsp;&nbsp; $713985 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 713985 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industrials | &nbsp;&nbsp; 14942 | &nbsp;&nbsp; 87 | &nbsp;&nbsp; — | &nbsp;&nbsp; 15029 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other Common Stocks | &nbsp;&nbsp; — | &nbsp;&nbsp; 981707 | &nbsp;&nbsp; — | &nbsp;&nbsp; 981707 |
| &nbsp;&nbsp;&nbsp; Preferred Stocks | &nbsp;&nbsp; 1453644 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 1453644 |
| &nbsp;&nbsp;&nbsp; Convertible Bonds & Notes | &nbsp;&nbsp; — | &nbsp;&nbsp; 993879 | &nbsp;&nbsp; — | &nbsp;&nbsp; 993879 |
| &nbsp;&nbsp;&nbsp; Collateralized Mortgage Obligations | &nbsp;&nbsp; — | &nbsp;&nbsp; 537829 | &nbsp;&nbsp; — | &nbsp;&nbsp; 537829 |
| &nbsp;&nbsp;&nbsp; Rights | &nbsp;&nbsp; — | &nbsp;&nbsp; 67163 | &nbsp;&nbsp; — | &nbsp;&nbsp; 67163 |
| &nbsp;&nbsp;&nbsp; Warrants | &nbsp;&nbsp; — | &nbsp;&nbsp; 10616 | &nbsp;&nbsp; — | &nbsp;&nbsp; 10616 |
| Total Long-Term Investments | &nbsp;&nbsp; 2182571 | &nbsp;&nbsp; 371187239 | &nbsp;&nbsp; 2880110 | &nbsp;&nbsp; 376249920 |
| Short-Term Investments† | &nbsp;&nbsp; 986694 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 986694 |
| **Total Investments** | &nbsp;&nbsp; **$3169265** | &nbsp;&nbsp; **$371187239** | &nbsp;&nbsp; **$2880110** | &nbsp;&nbsp; **$377236614** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| † | See Schedule of Investments for additional detailed categorizations. |
| \* | Amount represents less than $1. |

---

**2. Transactions with affiliated company**

As defined by the 1940 Act, an affiliated company is one in which the Fund owns 5% or more of the outstanding voting securities, or a company which is under common ownership or control with the Fund. The following company was considered an affiliated company for all or some portion of the period ended December 31, 2025. The following transactions were effected in such company for the period ended December 31, 2025. <br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Affiliate <br>Value at <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>September 30, <br>2025 | Purchased | Purchased | Sold | Sold |
|  | Affiliate <br>Value at <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>September 30, <br>2025 | Cost | Shares | Proceeds | Shares |
| Western Asset Premier <br> Institutional Government <br> Reserves, Premium <br> Shares<br>| $6960217 | $19403886 | 19403886 | $25377409 | 25377409 |

---

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Western Asset High Income Opportunity Fund Inc. 2025 Quarterly Report

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>

---

| | | | | |
|:---|:---|:---|:---|:---|
| (cont'd) | Realized <br>Gain (Loss)<br>| Dividend <br>Income<br>| Net Increase <br>(Decrease) in <br>Unrealized <br>Appreciation <br>(Depreciation)<br>| Affiliate <br>Value at <br>December 31, <br>2025<br>|
| Western Asset Premier <br> Institutional Government <br> Reserves, Premium Shares<br>|  | $19888 |  | $986694 |

---

**3. Restricted securities**

The following Fund investments are restricted as to resale and, in the absence of readily ascertainable market values, are fair valued in accordance with procedures approved by the Board. <br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Security | &nbsp;&nbsp; Number of <br>Shares/ <br>Warrants<br>| Acquisition <br>Date<br>| Cost | Fair Value <br>at 12/31/2025<br>| Value Per <br>Share/Warrant<br>|
| Spirit Airlines LLC, <br> Common Shares<br>| &nbsp;&nbsp; 346 | 3/25 | $4212 | $87 | &nbsp;&nbsp; $0.25<br> 0.00 %<sup>(a)</sup><br>|
| Spirit Airlines LLC, <br> Warrants<br>| &nbsp;&nbsp; 42296 | 3/25 | 514884 | 10616 <br><sup>(b)</sup><br>| 0.25<br> 0.00 <br><sup>(a)</sup><br>|
| **Total** |  |  | **$519096** | **$10703** | &nbsp;&nbsp; <br> **0.00%** <br><sup>(a)</sup><br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Amount represents less than 0.005%.

<sup>(b)</sup> Security is exempt from registration under Rule 144A of the Securities Act of 1933. This security may be resold in transactions that are exempt from registration, normally to qualified institutional buyers. This security has been deemed liquid pursuant to guidelines approved by the Board. 

------

Western Asset High Income Opportunity Fund Inc. 2025 Quarterly Report

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Western Asset High Income Opportunity Fund Inc.

- **b. Investment Company Act file number:** 811-07920

- **c. CIK number of Registrant:** 0000910068

- **d. LEI of Registrant:** 549300S7N70O2ERKYG47

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

  - **Street Address 1:** One Madison Avenue

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10010

  - **Telephone number:** 1-800-691-6960

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

- **a. Name of Series:** Western Asset High Income Opportunity Fund Inc.

- **c. LEI of Series:** 549300S7N70O2ERKYG47

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

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

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $387215105.70

**Total Liabilities:** $6253051.88

**Net Assets:** $380962053.82

**Delayed Delivery Securities:** $1910000.00

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 5.29000000 | **1-Year:** 1249.07000000 | **5-Year:** 14187.44000000 | **10-Year:** 17858.42000000 | **30-Year:** 3086.06000000

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

- **3-Month:** 832.00000000 | **1-Year:** 30972.29000000 | **5-Year:** 55462.24000000 | **10-Year:** 21655.97000000 | **30-Year:** 1643.11000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000000000 | 1.46%                | -0.90%               | -1.17%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-6257371.26             | $4389365.52                                |
| Month 2  | $250620.02               | $-1740404.09                               |
| Month 3  | $494108.60               | $-1558804.62                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| STONEX GROUP INC                                                            | StoneX Group Inc                                                                 | CUSIP: 861896AA6<br>LEI: 549300JUF07L8VF02M60 | Long             | DBT              | CORP              | US        |    640000 | PA      | $682432.00    | 0.18%             | 2031-03-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| NISSAN MOTOR CO                                                             | Nissan Motor Co Ltd                                                              | CUSIP: 654744AD3<br>LEI: 353800DRBDH1LUTNAY26 | Long             | DBT              | CORP              | JP        |   1040000 | PA      | $981136.75    | 0.26%             | 2030-09-17      | Fixed         | 4.81%                 | No            |                  2 | On Loan: No      |
| American Money Management Corp                                              | AMMC CLO 24 Ltd                                                                  | CUSIP: 00177LAQ3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    480000 | PA      | $481194.05    | 0.13%             | 2035-01-20      | Floating      | 6.83%                 | No            |                  2 | On Loan: No      |
| LIFEPOINT HEALTH INC                                                        | LifePoint Health Inc                                                             | CUSIP: 53219LAV1<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | DBT              | CORP              | US        |   1720000 | PA      | $1854061.96   | 0.49%             | 2030-08-15      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                                                    | CHS/Community Health Systems Inc                                                 | CUSIP: 12543DBN9<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |   2286000 | PA      | $2497889.34   | 0.66%             | 2032-01-15      | Fixed         | 10.88%                | No            |                  2 | On Loan: No      |
| WYNN RESORTS FINANCE LLC                                                    | Wynn Resorts Finance LLC / Wynn Resorts Capital Corp                             | CUSIP: 983133AC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1730000 | PA      | $1873076.14   | 0.49%             | 2031-02-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                                                           | HSBC Holdings PLC                                                                | CUSIP: 404280DS5<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   1440000 | PA      | $1688527.71   | 0.44%             | 2033-11-03      | Fixed         | 8.11%                 | No            |                  2 | On Loan: No      |
| MidOcean Credit CLO                                                         | MidOcean Credit CLO XVIII LLC                                                    | CUSIP: 59803MAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    910000 | PA      | $907510.33    | 0.24%             | 2035-10-18      | Floating      | 9.72%                 | No            |                  2 | On Loan: No      |
| TK Elevator Midco Gmbh                                                      | TK ELEVATOR US NEWCO INC                                                         | CUSIP: 000000000<br>LEI: 549300C2AFWPAYWS5574 | Long             | LON              | CORP              | US        |    980174 | PA      | $987383.31    | 0.26%             | 2030-04-30      | Floating      | 6.95%                 | No            |                  2 | On Loan: No      |
| JANE STREET GRP/JSG FIN                                                     | Jane Street Group / JSG Finance Inc                                              | CUSIP: 47077WAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2640000 | PA      | $2775567.46   | 0.73%             | 2031-04-30      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                                            | CIFC Funding 2022-II Ltd                                                         | CUSIP: 12567QAJ1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    300000 | PA      | $299331.12    | 0.08%             | 2035-04-19      | Floating      | 8.63%                 | No            |                  2 | On Loan: No      |
| CORECIVIC INC                                                               | CoreCivic Inc                                                                    | CUSIP: 21871NAC5<br>LEI: 529900JFA3K6PTLT8B15 | Long             | DBT              | CORP              | US        |   3330000 | PA      | $3503399.76   | 0.92%             | 2029-04-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                                                       | Venture Global Plaquemines LNG LLC                                               | CUSIP: 922966AD8<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |    530000 | PA      | $543122.98    | 0.14%             | 2036-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| PROVINCIA DE BUENOS AIRE                                                    | Provincia de Buenos Aires/Government Bonds                                       | CUSIP: 000000000<br>LEI: 549300L6AYROPOTQ4L07 | Long             | DBT              | NUSS              | AR        |    345521 | PA      | $266113.65    | 0.07%             | 2037-09-01      | Variable      | 6.62%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                                                      | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCP6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4810000 | PA      | $4094389.03   | 1.07%             | 2034-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP                                                                   | Sunoco LP                                                                        | CUSIP: 86765KAE9<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |   1971000 | PA      | $2026266.86   | 0.53%             | N/A             | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| ECHOSTAR CORP                                                               | EchoStar Corp                                                                    | CUSIP: 278768AC0<br>LEI: 549300EE20907QZ9GT38 | Long             | DBT              | CORP              | US        |   3795850 | PA      | $4200416.21   | 1.10%             | 2029-11-30      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| AXON ENTERPRISE INC                                                         | Axon Enterprise Inc                                                              | CUSIP: 05464CAD3<br>LEI: 549300QP2IEEGFE16681 | Long             | DBT              | CORP              | US        |    190000 | PA      | $198453.51    | 0.05%             | 2033-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| ZF NA CAPITAL                                                               | ZF North America Capital Inc                                                     | CUSIP: 98877DAG0<br>LEI: 529900JYGMS9CW9IQX78 | Long             | DBT              | CORP              | US        |   1710000 | PA      | $1673543.31   | 0.44%             | 2032-04-23      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                                               | Carnival Corp                                                                    | CUSIP: 143658BX9<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    980000 | PA      | $1012452.63   | 0.27%             | 2033-02-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Apex Credit CLO LLC                                                         | Apex Credit CLO 2021-II LLC                                                      | CUSIP: 03755QAJ2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $500236.30    | 0.13%             | 2034-10-20      | Floating      | 7.63%                 | No            |                  2 | On Loan: No      |
| CRESCENT ENERGY FINANCE                                                     | Crescent Energy Finance LLC                                                      | CUSIP: 45344LAG8<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |   1320000 | PA      | $1312014.00   | 0.34%             | 2034-01-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| X Corp (f/k/a Twitter Inc)                                                  | X CORP                                                                           | CUSIP: 90184NAG3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    228235 | PA      | $224730.73    | 0.06%             | 2029-10-26      | Floating      | 10.45%                | No            |                  2 | On Loan: No      |
| COMMSCOPE LLC                                                               | CommScope LLC                                                                    | CUSIP: 203372AV9<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |    190000 | PA      | $191149.88    | 0.05%             | 2028-07-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| GoldenTree Loan Management US                                               | Goldentree Loan Management US Clo 6 Ltd                                          | CUSIP: 38137XAL7<br>LEI: 549300MI5PVR6JHGVV87 | Long             | ABS-CBDO         | CORP              | KY        |    280000 | PA      | $273996.04    | 0.07%             | 2035-04-20      | Floating      | 8.38%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                                          | Energy Transfer LP                                                               | CUSIP: 29273VAJ9<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   1910000 | PA      | $1909044.24   | 0.50%             | N/A             | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Oak Hill Credit Partners                                                    | OHA Credit Funding 11 Ltd                                                        | CUSIP: 67115VAW2<br>LEI: 2549002MG7GTTY5LHR97 | Long             | ABS-CBDO         | CORP              | BM        |    220000 | PA      | $220920.48    | 0.06%             | 2037-07-19      | Floating      | 6.73%                 | No            |                  2 | On Loan: No      |
| GoldenTree Loan Management US                                               | GoldenTree Loan Management US CLO 16 Ltd                                         | CUSIP: 38090AAY4<br>LEI: 549300KYU0TCMXRAI217 | Long             | ABS-CBDO         | CORP              | JE        |   1260000 | PA      | $1260184.09   | 0.33%             | 2038-01-20      | Floating      | 6.28%                 | No            |                  2 | On Loan: No      |
| VIKING OCEAN CRUISES SHI                                                    | Viking Ocean Cruises Ship VII Ltd                                                | CUSIP: 92682RAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   2550000 | PA      | $2562729.60   | 0.67%             | 2029-02-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO                                                    | Clear Channel Outdoor Holdings Inc                                               | CUSIP: 18453HAG1<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |    840000 | PA      | $882578.42    | 0.23%             | 2031-02-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| NEW GENERATION GAS                                                          | New Generation Gas Gathering LLC                                                 | CUSIP: 000000000<br>LEI: 9845008CB7EPB0KCD474 | Long             | DBT              | CORP              | US        |    889189 | PA      | $924756.75    | 0.24%             | 2029-09-30      | Floating      | 9.64%                 | No            |                  3 | On Loan: No      |
| DIVERSIFIED HEALTHCARE T                                                    | Diversified Healthcare Trust                                                     | CUSIP: 25525PAE7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    800000 | PA      | $818990.40    | 0.21%             | 2030-10-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                                                 | BNP Paribas SA                                                                   | CUSIP: 05565AM34<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   1470000 | PA      | $1558654.23   | 0.41%             | N/A             | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP INC                                                      | Cloud Software Group Inc                                                         | CUSIP: 18912UAC6<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |   1870000 | PA      | $1955253.73   | 0.51%             | 2032-06-30      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| TEVA PHARMACEUTICALS NE                                                     | Teva Pharmaceutical Finance Netherlands III BV                                   | CUSIP: 88167AAF8<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |   2550000 | PA      | $1931738.68   | 0.51%             | 2046-10-01      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| ARBOR REALTY SR INC                                                         | Arbor Realty SR Inc                                                              | CUSIP: 03881NAL1<br>LEI: 549300TW7RTL2CI3CN08 | Long             | DBT              | CORP              | US        |    510000 | PA      | $508127.21    | 0.13%             | 2028-12-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                                                       | Venture Global Plaquemines LNG LLC                                               | CUSIP: 922966AB2<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |    640000 | PA      | $701112.63    | 0.18%             | 2035-05-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE SA                                                            | Altice France SA                                                                 | CUSIP: 02090DAA6<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |     40000 | PA      | $41324.00     | 0.01%             | 2029-11-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| X.Ai Corp.                                                                  | XAI CORP                                                                         | CUSIP: 98402XAB1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2244375 | PA      | $2363843.08   | 0.62%             | 2028-06-30      | Fixed         | 11.12%                | No            |                  2 | On Loan: No      |
| SPRINT CAPITAL CORP                                                         | Sprint Capital Corp                                                              | CUSIP: 852060AT9<br>LEI: 549300L17W0GQBR1PO80 | Long             | DBT              | CORP              | US        |   5910000 | PA      | $7151210.46   | 1.88%             | 2032-03-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| NABORS INDUSTRIES INC                                                       | Nabors Industries Inc                                                            | CUSIP: 62957HAQ8<br>LEI: 549300VFQWRKICUFNU92 | Long             | DBT              | CORP              | US        |   1900000 | PA      | $1844476.41   | 0.48%             | 2031-08-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                                                              | Bombardier Inc                                                                   | CUSIP: 097751CB5<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |    500000 | PA      | $533449.00    | 0.14%             | 2031-07-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| UPBOUND GROUP INC                                                           | Upbound Group Inc                                                                | CUSIP: 76009NAL4<br>LEI: 529900QUHE15UQNCCJ63 | Long             | DBT              | CORP              | US        |   1380000 | PA      | $1361050.24   | 0.36%             | 2029-02-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP                                                                   | Sunoco LP                                                                        | CUSIP: 86765KAF6<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |    970000 | PA      | $977611.59    | 0.26%             | 2031-03-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| ZF NA CAPITAL                                                               | ZF North America Capital Inc                                                     | CUSIP: 98877DAF2<br>LEI: 529900JYGMS9CW9IQX78 | Long             | DBT              | CORP              | US        |   1220000 | PA      | $1206398.82   | 0.32%             | 2030-04-23      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                                                    | CHS/Community Health Systems Inc                                                 | CUSIP: 12543DBK5<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |   1910000 | PA      | $1702880.36   | 0.45%             | 2031-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| VISTAJET MALTA/VM HOLDS                                                     | VistaJet Malta Finance PLC / Vista Management Holding Inc                        | CUSIP: 92841HAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |    380000 | PA      | $394423.28    | 0.10%             | 2028-06-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| VERSANT MEDIA GROUP INC                                                     | Versant Media Group Inc                                                          | CUSIP: 925283AA1<br>LEI: 254900D2Q5F5F229PU30 | Long             | DBT              | CORP              | US        |    720000 | PA      | $743223.11    | 0.20%             | 2031-01-30      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Fertitta Entertainment LLC                                                  | FERTITTA ENTERTAINMENT L                                                         | CUSIP: 31556PAB3<br>LEI: 984500A0805D8V551D35 | Long             | LON              | CORP              | US        |   1224555 | PA      | $1225669.06   | 0.32%             | 2029-01-27      | Floating      | 6.97%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                                                       | Level 3 Financing Inc                                                            | CUSIP: 527298CQ4<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    770000 | PA      | $789509.98    | 0.21%             | 2036-01-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                                                              | Bombardier Inc                                                                   | CUSIP: 097751CC3<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |     80000 | PA      | $84631.28     | 0.02%             | 2032-06-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| GEO GROUP INC/THE                                                           | GEO Group Inc/The                                                                | CUSIP: 36162JAH9<br>LEI: 54930024XOXET7NQVZ63 | Long             | DBT              | CORP              | US        |   3160000 | PA      | $3460747.03   | 0.91%             | 2031-04-15      | Fixed         | 10.25%                | No            |                  2 | On Loan: No      |
| PINNACLE BIDCO PLC                                                          | Pinnacle Bidco PLC                                                               | CUSIP: 000000000<br>LEI: 2138006Z5V8OBL2A2Q06 | Long             | DBT              | CORP              | GB        |    900000 | PA      | $1280713.70   | 0.34%             | 2028-10-11      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Quikrete Holdings Inc                                                       | QUIKRETE HOLDING 01/30/32                                                        | CUSIP: 74839XAL3<br>LEI: 5493007KIN86DIZWZT22 | Long             | LON              | CORP              | US        |    893250 | PA      | $897015.05    | 0.24%             | 2032-02-10      | Floating      | 5.97%                 | No            |                  2 | On Loan: No      |
| TUTOR PERINI CORP                                                           | Tutor Perini Corp                                                                | CUSIP: 901109AG3<br>LEI: 549300FHXYVPW8LJ6D98 | Long             | DBT              | CORP              | US        |   2070000 | PA      | $2307531.73   | 0.61%             | 2029-04-30      | Fixed         | 11.88%                | No            |                  2 | On Loan: No      |
| ROCKIES EXPRESS PIPELINE                                                    | Rockies Express Pipeline LLC                                                     | CUSIP: 77340RAM9<br>LEI: W2ZGZGZKY5GGNY6F3V51 | Long             | DBT              | CORP              | US        |   1140000 | PA      | $1179263.88   | 0.31%             | 2040-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| CONNECT FINCO SARL/CONNE                                                    | Connect Finco SARL / Connect US Finco LLC                                        | CUSIP: 20752TAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |   3490000 | PA      | $3706342.34   | 0.97%             | 2029-09-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| CHINA AOYUAN GROUP LTD                                                      | China Aoyuan Group Ltd                                                           | CUSIP: 000000000<br>LEI: 549300YSOKQO5QD6MP25 | Long             | DBT              | CORP              | KY        |    125474 | PA      | $2195.80      | 0.00%             | 2031-09-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ABCTEC Second Out TL                                                        | ABCTEC Second Out TL                                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1319728 | PA      | $1319728.43   | 0.35%             | 2031-09-08      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| WYNN MACAU LTD                                                              | Wynn Macau Ltd                                                                   | CUSIP: 98313RAE6<br>LEI: 254900NMDQ8ENTHU1I31 | Long             | DBT              | CORP              | KY        |   1054000 | PA      | $1044898.19   | 0.27%             | 2029-12-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| FIVE POINT OPERATING CO                                                     | Five Point Operating Co LP                                                       | CUSIP: 33834YAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1830000 | PA      | $1914646.65   | 0.50%             | 2030-10-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Peace Park CLO, Ltd.                                                        | Peace Park CLO Ltd                                                               | CUSIP: 70470NAJ2<br>LEI: 549300XHXTUZ93V6SK42 | Long             | ABS-CBDO         | CORP              | KY        |    520000 | PA      | $516236.19    | 0.14%             | 2038-10-20      | Floating      | 8.78%                 | No            |                  2 | On Loan: No      |
| RIVERS ENTERPRISE                                                           | Rivers Enterprise Lender LLC / Rivers Enterprise Lender Corp                     | CUSIP: 76884GAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1450000 | PA      | $1480738.55   | 0.39%             | 2030-10-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| ROCKIES EXPRESS PIPELINE                                                    | Rockies Express Pipeline LLC                                                     | CUSIP: 77340RAU1<br>LEI: W2ZGZGZKY5GGNY6F3V51 | Long             | DBT              | CORP              | US        |    320000 | PA      | $338102.46    | 0.09%             | 2033-03-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| EQUIPMENTSHARE.COM INC                                                      | EquipmentShare.com Inc                                                           | CUSIP: 29450YAC3<br>LEI: 254900PWJK48CGPKPI80 | Long             | DBT              | CORP              | US        |   2200000 | PA      | $2317653.80   | 0.61%             | 2033-03-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| FIRST QUANTUM MINERALS L                                                    | First Quantum Minerals Ltd                                                       | CUSIP: 335934AX3<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |    790000 | PA      | $831166.73    | 0.22%             | 2034-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| KINDER MORGAN INC                                                           | Kinder Morgan Inc                                                                | CUSIP: 28368EAE6<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |   5920000 | PA      | $6877031.88   | 1.81%             | 2032-01-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| VIRGIN MEDIA VENDOR FIN                                                     | Virgin Media Vendor Financing Notes III DAC                                      | CUSIP: 92771EAA1<br>LEI: 635400SSKC2QCGEPIQ43 | Long             | DBT              | CORP              | IE        |   2000000 | PA      | $2635113.04   | 0.69%             | 2028-07-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| VZ SECURED FINANCING BV                                                     | VZ Secured Financing BV                                                          | CUSIP: 91845AAB1<br>LEI: 549300MG611MYCOWY949 | Long             | DBT              | CORP              | NL        |    530000 | PA      | $537450.63    | 0.14%             | 2033-01-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| PETROBRAS GLOBAL FINANCE                                                    | Petrobras Global Finance BV                                                      | CUSIP: 71645WAS0<br>LEI: 549300FNENFFSMO3GT38 | Long             | DBT              | CORP              | NL        |   4370000 | PA      | $4397522.26   | 1.15%             | 2041-01-27      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| 1011778 BC Unlimited Liability Company                                      | 1011778 BC ULC                                                                   | CUSIP: 000000000<br>LEI: 549300RHSHNRWI5LLA86 | Long             | LON              | CORP              | CA        |    942895 | PA      | $945251.98    | 0.25%             | 2030-09-20      | Floating      | 5.47%                 | No            |                  2 | On Loan: No      |
| ECOPETROL SA                                                                | Ecopetrol SA                                                                     | CUSIP: 279158AJ8<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | CORP              | CO        |   4110000 | PA      | $3061352.12   | 0.80%             | 2045-05-28      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| DIEBOLD NIXDORF INC                                                         | Diebold Nixdorf Inc                                                              | CUSIP: 253651AK9<br>LEI: 549300XZK6EWDBAZSY16 | Long             | DBT              | CORP              | US        |    610000 | PA      | $650666.11    | 0.17%             | 2030-03-31      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| MICHAELS COS INC/THE                                                        | Michaels Cos Inc/The                                                             | CUSIP: 55916AAB0<br>LEI: 549300H9LWMBP7HYLR98 | Long             | DBT              | CORP              | US        |    720000 | PA      | $665608.25    | 0.17%             | 2029-05-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                                                | UBS Group AG                                                                     | CUSIP: 902613BF4<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   2010000 | PA      | $2211399.99   | 0.58%             | N/A             | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                                               | TransDigm Inc                                                                    | CUSIP: 893647BT3<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    875000 | PA      | $920692.50    | 0.24%             | 2031-12-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| CHINA AOYUAN GROUP LTD                                                      | China Aoyuan Group Ltd                                                           | CUSIP: 000000000<br>LEI: 549300YSOKQO5QD6MP25 | Long             | DBT              | CORP              | KY        |     40243 | PA      | $503.04       | 0.00%             | 2028-09-30      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| GFL ENVIRONMENTAL INC                                                       | GFL Environmental Inc                                                            | CUSIP: 36168QAQ7<br>LEI: 894500E7NLBY9VZRT696 | Long             | DBT              | CORP              | CA        |    550000 | PA      | $577732.10    | 0.15%             | 2031-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                                                      | Venture Global LNG Inc                                                           | CUSIP: 92332YAD3<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |   3260000 | PA      | $3369853.62   | 0.88%             | 2032-02-01      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| DIRECTV FINANCING LLC                                                       | Directv Financing LLC                                                            | CUSIP: 254945AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    450000 | PA      | $455869.81    | 0.12%             | 2030-02-01      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| First Brands Group LLC                                                      | FIRST BRANDS GROUP LLC                                                           | CUSIP: 31935HAM9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    149888 | PA      | $29602.94     | 0.01%             | 2026-06-29      | Floating      | 13.84%                | No            |                  2 | On Loan: No      |
| Prime Security Services Borrower, LLC (aka Protection 1 Security Solutions) | PRIME SECURITY SERVICES BOR                                                      | CUSIP: 03765VAP5<br>LEI: 549300O6QPZVWXV2DC15 | Long             | LON              | CORP              | US        |    886975 | PA      | $889387.69    | 0.23%             | 2030-10-13      | Floating      | 6.13%                 | No            |                  2 | On Loan: No      |
| MELCO RESORTS FINANCE                                                       | Melco Resorts Finance Ltd                                                        | CUSIP: 58547DAJ8<br>LEI: 5493000FQDBWKDBZEF60 | Long             | DBT              | CORP              | KY        |    420000 | PA      | $421453.86    | 0.11%             | 2033-09-24      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Boost Newco Borrower LLC                                                    | BOOST NEWCO BORROWER LLC                                                         | CUSIP: 92943EAG1<br>LEI: 254900S8RE1OL7TTCU64 | Long             | LON              | CORP              | US        |    990019 | PA      | $992805.65    | 0.26%             | 2031-01-31      | Floating      | 5.67%                 | No            |                  2 | On Loan: No      |
| SOTERA HEALTH HLDGS LLC                                                     | Sotera Health Holdings LLC                                                       | CUSIP: 83600WAE9<br>LEI: 549300OVT7MBXFLOFU20 | Long             | DBT              | CORP              | US        |    990000 | PA      | $1039570.75   | 0.27%             | 2031-06-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| MPT OPER PARTNERSP/FINL                                                     | MPT Operating Partnership LP / MPT Finance Corp                                  | CUSIP: 55342UAQ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    460000 | PA      | $491592.08    | 0.13%             | 2032-02-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| JB POINDEXTER & CO INC                                                      | JB Poindexter & Co Inc                                                           | CUSIP: 465965AC5<br>LEI: 549300W6P81HOZZGPQ16 | Long             | DBT              | CORP              | US        |   1570000 | PA      | $1646499.99   | 0.43%             | 2031-12-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| DISH NETWORK CORP                                                           | DISH Network Corp                                                                | CUSIP: 25470MAG4<br>LEI: 529900U350CWHH15G169 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1249662.00   | 0.33%             | 2027-11-15      | Fixed         | 11.75%                | No            |                  2 | On Loan: No      |
| Fort Greene Park CLO                                                        | Fort Greene Park CLO LLC                                                         | CUSIP: 18914KAJ1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1080000 | PA      | $1066012.81   | 0.28%             | 2034-04-22      | Floating      | 8.26%                 | No            |                  2 | On Loan: No      |
| SPIRIT AIRLINES LLC                                                         | SPIRIT AIRLINES LLC                                                              | CUSIP: 84863V135<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     42296 | NS      | $10616.30     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| VZ SECURED FINANCING BV                                                     | VZ Secured Financing BV                                                          | CUSIP: 91845AAA3<br>LEI: 549300MG611MYCOWY949 | Long             | DBT              | CORP              | NL        |    680000 | PA      | $615898.55    | 0.16%             | 2032-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE SA                                                            | Altice France SA                                                                 | CUSIP: 02090DAD0<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |    577575 | PA      | $554060.13    | 0.15%             | 2032-04-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Jamestown CLO Ltd                                                           | Jamestown CLO IX Ltd                                                             | CUSIP: 47048JBK8<br>LEI: 254900NFTK4YH0WYT485 | Long             | ABS-CBDO         | CORP              | KY        |    550000 | PA      | $546878.53    | 0.14%             | 2034-07-25      | Floating      | 7.11%                 | No            |                  2 | On Loan: No      |
| COUNTRY GARDEN HLDGS                                                        | Country Garden Holdings Co Ltd                                                   | CUSIP: 000000000<br>LEI: 549300MGHLPT1EFHGF84 | Long             | DBT              | CORP              | KY        |   2016000 | PA      | $195814.08    | 0.05%             | 2024-01-27      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| China Aoyuan Group Ltd                                                      | China Aoyuan Group Ltd                                                           | CUSIP: 000000000<br>LEI: 549300YSOKQO5QD6MP25 | Long             | EC               | CORP              | CN        |    112573 | NS      | $957.74       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| AGNC INVESTMENT CORP                                                        | AGNC Investment Corp                                                             | CUSIP: 00123Q872<br>LEI: 5TRACI5HRMELWV32OF39 | Long             | EP               | CORP              | US        |     32708 | NS      | $802654.32    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| CUSHMAN & WAKEFIELD US                                                      | Cushman & Wakefield US Borrower LLC                                              | CUSIP: 23166MAC7<br>LEI: 549300870CMN3WI5IF97 | Long             | DBT              | CORP              | US        |    420000 | PA      | $449676.78    | 0.12%             | 2031-09-01      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| GLOBAL AUTO HO/AAG FH UK                                                    | Global Auto Holdings Ltd/AAG FH UK Ltd                                           | CUSIP: 00033GAB1<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |    780000 | PA      | $749571.32    | 0.20%             | 2032-01-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES INC                                                       | American Airlines Inc                                                            | CUSIP: 023771T40<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1980000 | PA      | $2072103.66   | 0.54%             | 2029-05-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                                                         | Petroleos Mexicanos                                                              | CUSIP: 71654QAZ5<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |   1000000 | PA      | $866664.62    | 0.23%             | 2041-06-02      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ARBOR REALTY SR INC                                                         | Arbor Realty SR Inc                                                              | CUSIP: 03881NAJ6<br>LEI: 549300TW7RTL2CI3CN08 | Long             | DBT              | CORP              | US        |   1330000 | PA      | $1272548.81   | 0.33%             | 2030-07-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| iHeartCommunications Inc                                                    | IHEARTCOMMUNICATIONS INC                                                         | CUSIP: 45174UAJ7<br>LEI: 54930076J6KDZL504O62 | Long             | LON              | CORP              | US        |   1354320 | PA      | $1243556.94   | 0.33%             | 2029-05-01      | Floating      | 9.61%                 | No            |                  2 | On Loan: No      |
| Petco Health and Wellness Company Inc                                       | Petco Health & Wellness Co Inc                                                   | CUSIP: 71601HAB2<br>LEI: 2549007TYGV6RVSE9M61 | Long             | LON              | CORP              | US        |    988030 | PA      | $979572.54    | 0.26%             | 2028-03-03      | Floating      | 7.18%                 | No            |                  2 | On Loan: No      |
| BLUE RACER MID LLC/FINAN                                                    | Blue Racer Midstream LLC / Blue Racer Finance Corp                               | CUSIP: 095796AK4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $530936.27    | 0.14%             | 2032-07-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Blackhawk Network Holdings Inc.                                             | BHN MERGER SUB INC                                                               | CUSIP: 09238FAM3<br>LEI: 549300LFU3K8UIR03132 | Long             | LON              | CORP              | US        |    462973 | PA      | $465758.27    | 0.12%             | 2029-03-12      | Floating      | 7.67%                 | No            |                  2 | On Loan: No      |
| PROVINCIA DE CORDOBA                                                        | Provincia de Cordoba                                                             | CUSIP: 74408DAD6<br>LEI: 5299006CLM2Z97AATT29 | Long             | DBT              | NUSS              | AR        |   1020000 | PA      | $1014900.00   | 0.27%             | 2027-06-01      | Variable      | 6.99%                 | No            |                  2 | On Loan: No      |
| BURFORD CAPITAL GLBL FIN                                                    | Burford Capital Global Finance LLC                                               | CUSIP: 12116LAE9<br>LEI: 549300JVAOO67CSCH406 | Long             | DBT              | CORP              | US        |    530000 | PA      | $546354.21    | 0.14%             | 2031-07-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| WILLIAMS COMPANIES INC                                                      | Williams Cos Inc/The                                                             | CUSIP: 969457BV1<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |   2690000 | PA      | $2683620.42   | 0.70%             | 2044-06-24      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| TEVA PHARMACEUTICALS NE                                                     | Teva Pharmaceutical Finance Netherlands III BV                                   | CUSIP: 88167AAQ4<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |    880000 | PA      | $890657.96    | 0.23%             | 2029-05-09      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| WBI OPERATING LLC                                                           | WBI Operating LLC                                                                | CUSIP: 92944BAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1010000 | PA      | $1006714.98   | 0.26%             | 2033-10-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ANGOLA                                                          | Angolan Government International Bond                                            | CUSIP: 035198AD2<br>LEI: 549300QHR2R3J8JSGK83 | Long             | DBT              | NUSS              | AO        |   1600000 | PA      | $1564347.73   | 0.41%             | 2029-11-26      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| MIDCAP FINANCIAL ISSR TR                                                    | MIDCAP FINANCIAL ISSR TR                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1910000 | PA      | $1910000.00   | 0.50%             | 2056-01-12      | Floating      | 7.84%                 | No            |                  2 | On Loan: No      |
| LUXCO3 DUMMY EQUITY                                                         | LUXCO3 DUMMY EQUITY                                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     54456 | NS      | $980749.29    | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                                               | TransDigm Inc                                                                    | CUSIP: 893647BV8<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |   1020000 | PA      | $1062502.38   | 0.28%             | 2032-03-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| B3 SA-BRASIL BOLSA BALCA                                                    | B3 SA - Brasil Bolsa Balcao                                                      | CUSIP: 000000000<br>LEI: 4GTK5S46E6H318LMDS44 | Long             | DBT              | CORP              | BR        |   1000000 | PA      | $939375.00    | 0.25%             | 2031-09-20      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| LHOME Mortgage Trust                                                        | LHOME Mortgage Trust 2025-RTL1                                                   | CUSIP: 50205UAC5<br>LEI: 5299002NGIWITLMXOH85 | Long             | ABS-MBS          | CORP              | US        |    530000 | PA      | $537828.74    | 0.14%             | 2040-01-25      | Variable      | 7.02%                 | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP INC                                                      | Cloud Software Group Inc                                                         | CUSIP: 18912UAG7<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |    680000 | PA      | $674340.56    | 0.18%             | 2033-08-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| AMERICAN AXLE & MFG INC                                                     | American Axle & Manufacturing Inc                                                | CUSIP: 02406PBD1<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | DBT              | CORP              | US        |   1610000 | PA      | $1640813.21   | 0.43%             | 2033-10-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Diamond Sports Net, LLC                                                     | DIAMOND SPORTS NET LLC                                                           | CUSIP: 25277EAB8<br>LEI: 549300MPO5H6LGX4RJ82 | Long             | LON              | CORP              | US        |   1740069 | PA      | $682350.66    | 0.18%             | 2028-01-02      | Fixed         | 15.00%                | No            |                  2 | On Loan: No      |
| FIRST QUANTUM MINERALS L                                                    | First Quantum Minerals Ltd                                                       | CUSIP: 335934AV7<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |    920000 | PA      | $969922.31    | 0.25%             | 2029-03-01      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                                                            | CSC Holdings LLC                                                                 | CUSIP: 126307BN6<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |   1550000 | PA      | $1152537.22   | 0.30%             | 2029-01-31      | Fixed         | 11.75%                | No            |                  2 | On Loan: No      |
| GEN DIGITAL INC                                                             | Gen Digital Inc                                                                  | CUSIP: 668771AM0<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | DBT              | CORP              | US        |    560000 | PA      | $579846.96    | 0.15%             | 2033-04-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Warwick Capital CLO Ltd                                                     | Warwick Capital CLO 3 Ltd                                                        | CUSIP: 93655PAG2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |    140000 | PA      | $141035.10    | 0.04%             | 2037-04-20      | Floating      | 8.38%                 | No            |                  2 | On Loan: No      |
| Golub Capital Partners CLO, LT                                              | Golub Capital Partners CLO 76 B Ltd                                              | CUSIP: 38180CAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |    300000 | PA      | $302982.30    | 0.08%             | 2037-10-25      | Floating      | 9.61%                 | No            |                  2 | On Loan: No      |
| FIRST QUANTUM MINERALS L                                                    | First Quantum Minerals Ltd                                                       | CUSIP: 335934AU9<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |   2120000 | PA      | $2233619.28   | 0.59%             | 2031-06-01      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| ACProducts Holdings Inc                                                     | ACProducts Holdings Inc                                                          | CUSIP: 00488YAB2<br>LEI: 254900KTNXVUUHWHBF39 | Long             | LON              | CORP              | US        |    391795 | PA      | $321305.10    | 0.08%             | 2028-05-17      | Floating      | 8.18%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE SA                                                            | Altice France SA                                                                 | CUSIP: 02090DAE8<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |   1455489 | PA      | $1396686.34   | 0.37%             | 2032-07-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Nassau LTD                                                                  | Nassau 2021-I Ltd                                                                | CUSIP: 631704AP8<br>LEI: 5493000NDRKPTT45F149 | Long             | ABS-CBDO         | CORP              | KY        |    970000 | PA      | $970062.95    | 0.25%             | 2034-08-26      | Floating      | 7.50%                 | No            |                  2 | On Loan: No      |
| TITAN INTERNATIONAL INC                                                     | Titan International Inc                                                          | CUSIP: 88830MAM4<br>LEI: 254900CXRGBE7C4B5A06 | Long             | DBT              | CORP              | US        |    960000 | PA      | $965556.48    | 0.25%             | 2028-04-30      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| MPT OPER PARTNERSP/FINL                                                     | MPT Operating Partnership LP / MPT Finance Corp                                  | CUSIP: 55342UAL8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    140000 | PA      | $160897.15    | 0.04%             | 2028-06-05      | Fixed         | 3.69%                 | No            |                  2 | On Loan: No      |
| VOC ESCROW LTD                                                              | VOC Escrow Ltd                                                                   | CUSIP: 91832VAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    140000 | PA      | $140060.48    | 0.04%             | 2028-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VIASAT INC                                                                  | Viasat Inc                                                                       | CUSIP: 92552VAR1<br>LEI: UFC8NYMNFSYIHNSM2I38 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1142455.21   | 0.30%             | 2031-05-30      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| WESTERN MIDSTREAM OPERAT                                                    | Western Midstream Operating LP                                                   | CUSIP: 958254AJ3<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |    570000 | PA      | $491893.25    | 0.13%             | 2048-03-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                                                    | CHS/Community Health Systems Inc                                                 | CUSIP: 12543DBQ2<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |   1460000 | PA      | $1535304.79   | 0.40%             | 2034-01-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| Spirit Airlines, LLC                                                        | Spirit Airlines, LLC Third DIP New Money TL                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    166632 | PA      | $166110.93    | 0.04%             | 2026-07-14      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Station Casinos LLC                                                         | STATION CASINOS LLC                                                              | CUSIP: 85769EBB6<br>LEI: 5493004E7Q60TX54WL62 | Long             | LON              | CORP              | US        |    736875 | PA      | $740113.57    | 0.19%             | 2031-03-14      | Floating      | 5.72%                 | No            |                  2 | On Loan: No      |
| DREAM FINDERS HOMES INC                                                     | Dream Finders Homes Inc                                                          | CUSIP: 26154DAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1080000 | PA      | $1086825.59   | 0.29%             | 2030-09-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| GRAY MEDIA INC                                                              | Gray Media Inc                                                                   | CUSIP: 389375AN6<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |   1230000 | PA      | $1277383.75   | 0.34%             | 2032-07-15      | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| Clarios Global LP                                                           | CLARIOS GLOBAL LP                                                                | CUSIP: 000000000<br>LEI: 549300474L1ZLXZY2P98 | Long             | LON              | CORP              | US        |    990000 | PA      | $992578.95    | 0.26%             | 2030-05-06      | Floating      | 6.22%                 | No            |                  2 | On Loan: No      |
| Ocean Trails CLO                                                            | Ocean Trails CLO XII Ltd                                                         | CUSIP: 67515FAE3<br>LEI: 549300RF4JV7XJ3EV147 | Long             | ABS-CBDO         | CORP              | JE        |    600000 | PA      | $599074.14    | 0.16%             | 2035-07-20      | Floating      | 11.38%                | No            |                  2 | On Loan: No      |
| X Corp (f/k/a Twitter Inc)                                                  | X CORP                                                                           | CUSIP: 90184NAK4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1310000 | PA      | $1307890.90   | 0.34%             | 2029-10-26      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| TEVA PHARMACEUTICALS NE                                                     | Teva Pharmaceutical Finance Netherlands III BV                                   | CUSIP: 88167AAR2<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |   1150000 | PA      | $1325593.60   | 0.35%             | 2031-09-15      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| WESTERN MIDSTREAM OPERAT                                                    | Western Midstream Operating LP                                                   | CUSIP: 958667AC1<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |    340000 | PA      | $333242.84    | 0.09%             | 2030-02-01      | Variable      | 4.05%                 | No            |                  2 | On Loan: No      |
| Apidos CLO                                                                  | Apidos Loan Fund 2024-1 Ltd                                                      | CUSIP: 037986AW6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    610000 | PA      | $613411.67    | 0.16%             | 2038-10-25      | Floating      | 6.83%                 | No            |                  2 | On Loan: No      |
| ALTICE FRAN LUX 3/HOLD 1                                                    | Altice France Lux 3 / Altice Holdings 1                                          | CUSIP: 020956AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    968077 | PA      | $889061.02    | 0.23%             | 2033-01-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Red Planet Borrower LLC                                                     | RED PLANET BORROWER LLC                                                          | CUSIP: 57165KAE6<br>LEI: 254900LGTHBRY5NA0C90 | Long             | LON              | CORP              | US        |    670000 | PA      | $672093.75    | 0.18%             | 2032-09-08      | Floating      | 7.72%                 | No            |                  2 | On Loan: No      |
| FIRST QUANTUM MINERALS L                                                    | First Quantum Minerals Ltd                                                       | CUSIP: 335934AW5<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |   3410000 | PA      | $3645961.77   | 0.96%             | 2033-03-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| GRANITE RIDGE RESOURCES                                                     | Granite Ridge Resources Inc                                                      | CUSIP: 387432AA5<br>LEI: 254900CAHJQKOQ1YZC67 | Long             | DBT              | CORP              | US        |   2280000 | PA      | $2198775.00   | 0.58%             | 2029-11-05      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| Ocean Trails CLO                                                            | Ocean Trails Clo X                                                               | CUSIP: 67516BAE1<br>LEI: 635400RMMLHBGDGXBC03 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $988929.00    | 0.26%             | 2034-10-15      | Floating      | 11.74%                | No            |                  2 | On Loan: No      |
| MICHAELS COS INC/THE                                                        | Michaels Cos Inc/The                                                             | CUSIP: 55916AAA2<br>LEI: 549300H9LWMBP7HYLR98 | Long             | DBT              | CORP              | US        |   1770000 | PA      | $1703647.51   | 0.45%             | 2028-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Western Asset Premier Institutional Government Reserves                     | Western Asset Premier Institutional Government Reserves                          | CUSIP: 52470G494<br>LEI: 549300WB3XRN9YTWFB76 | Long             | STIV             | RF                | US        |   4196956 | NS      | $4196955.51   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Palmer Square CLO Ltd                                                       | Palmer Square CLO 2022-3 Ltd                                                     | CUSIP: 69690ABC0<br>LEI: 5493000CAZ8VWJGUOH13 | Long             | ABS-CBDO         | CORP              | JE        |    310000 | PA      | $310992.93    | 0.08%             | 2037-07-20      | Floating      | 6.83%                 | No            |                  2 | On Loan: No      |
| QNITY ELECTRONICS INC                                                       | Qnity Electronics Inc                                                            | CUSIP: 74743LAB6<br>LEI: 254900RSUG4J9TFFZX53 | Long             | DBT              | CORP              | US        |   1120000 | PA      | $1162337.72   | 0.31%             | 2033-08-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| SPIRIT AVIA HOL RESTRICT                                                    | SPIRIT AVIA HOL RESTRICT                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       346 | NS      | $86.85        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| APOLLO CMMRL REAL EST FI                                                    | Apollo Commercial Real Estate Finance Inc                                        | CUSIP: 03762UAD7<br>LEI: 549300E0AN7M2AQHSY29 | Long             | DBT              | CORP              | US        |    420000 | PA      | $406568.19    | 0.11%             | 2029-06-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| CHIMERA INVESTMENT CORP                                                     | Chimera Investment Corp                                                          | CUSIP: 16934Q505<br>LEI: 2JBBQFJOL123LOUBE657 | Long             | EP               | CORP              | US        |     10320 | NS      | $220125.60    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| MOUNTAIN VIEW CLO                                                           | Mountain View Clo XIX Ltd                                                        | CUSIP: 623910AN6<br>LEI: 254900L6WFB2NIQTBG86 | Long             | ABS-CBDO         | CORP              | KY        |    540000 | PA      | $546033.80    | 0.14%             | 2038-10-17      | Floating      | 7.23%                 | No            |                  2 | On Loan: No      |
| CORECIVIC INC                                                               | CoreCivic Inc                                                                    | CUSIP: 21871NAA9<br>LEI: 529900JFA3K6PTLT8B15 | Long             | DBT              | CORP              | US        |    280000 | PA      | $278579.70    | 0.07%             | 2027-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| PARK-OHIO INDUSTRIES INC                                                    | Park-Ohio Industries Inc                                                         | CUSIP: 700677AS6<br>LEI: 5493006LQUO5SLMNYM18 | Long             | DBT              | CORP              | US        |   1290000 | PA      | $1330976.85   | 0.35%             | 2030-08-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| APH/APH2/APH3/AQUARIAN                                                      | APH Somerset Investor 2 LLC / APH2 Somerset Investor 2 LLC / APH3 Somerset Inves | CUSIP: 00188QAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    910000 | PA      | $919777.21    | 0.24%             | 2029-11-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| XPO INC                                                                     | XPO Inc                                                                          | CUSIP: 983793AK6<br>LEI: 54930096DB9LCLPN7H13 | Long             | DBT              | CORP              | US        |    500000 | PA      | $527734.00    | 0.14%             | 2032-02-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Voya CLO Ltd                                                                | Voya CLO 2020-3 Ltd                                                              | CUSIP: 92918NBE6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    430000 | PA      | $431844.27    | 0.11%             | 2038-01-20      | Floating      | 6.57%                 | No            |                  2 | On Loan: No      |
| Spirit Airlines, LLC                                                        | Spirit Airlines, LLC DIP New Money Term Loan 10/25                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    340188 | PA      | $339125.19    | 0.09%             | 2040-01-02      | None          | 11.75%                | No            |                  2 | On Loan: No      |
| Greywolf CLO Ltd                                                            | Greywolf CLO IV Ltd                                                              | CUSIP: 39809TBC0<br>LEI: 5493008JNE27URH1VF66 | Long             | ABS-CBDO         | CORP              | KY        |    390000 | PA      | $391401.66    | 0.10%             | 2034-04-17      | Floating      | 7.38%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC                                                           | Herc Holdings Inc                                                                | CUSIP: 42704LAG9<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |    710000 | PA      | $753291.63    | 0.20%             | 2033-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| VMED O2 UK FINAN                                                            | Vmed O2 UK Financing I PLC                                                       | CUSIP: 92858RAB6<br>LEI: 213800MRR46ECNGZ7L69 | Long             | DBT              | CORP              | GB        |    500000 | PA      | $461999.25    | 0.12%             | 2031-07-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| SGUS LLC                                                                    | SGUS LLC                                                                         | CUSIP: 81880AAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    706018 | PA      | $264756.75    | 0.07%             | 2029-12-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| RR Ltd                                                                      | RR 18 Ltd                                                                        | CUSIP: 749737AJ1<br>LEI: 54930003V8ISBLDELD80 | Long             | ABS-CBDO         | CORP              | KY        |    800000 | PA      | $807905.44    | 0.21%             | 2040-07-15      | Floating      | 8.80%                 | No            |                  2 | On Loan: No      |
| ARCOSA INC                                                                  | Arcosa Inc                                                                       | CUSIP: 039653AC4<br>LEI: 549300WFHLTCZV7D6V29 | Long             | DBT              | CORP              | US        |    620000 | PA      | $655956.61    | 0.17%             | 2032-08-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| NEWELL BRANDS INC                                                           | Newell Brands Inc                                                                | CUSIP: 651229BG0<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |    530000 | PA      | $556419.44    | 0.15%             | 2028-06-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| COREWEAVE INC                                                               | CoreWeave Inc                                                                    | CUSIP: 21873SAD0<br>LEI: 984500511DP2B6186053 | Long             | DBT              | CORP              | US        |    160000 | PA      | $151800.00    | 0.04%             | 2031-12-01      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| ALTICE LUXEMBOURG 0 SNR PERP EUR1 '144A'                                    | ALTICE LUXEMBOURG 0 SNR PERP EUR1 '144A'                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | LU        |      4046 | NS      | $67162.39     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| COMMONWEALTH OF BAHAMAS                                                     | Bahamas Government International Bond                                            | CUSIP: 056732AG5<br>LEI: 549300W13SXC7EKNJC20 | Long             | DBT              | NUSS              | BS        |   1630000 | PA      | $1678085.00   | 0.44%             | 2029-11-20      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| 1261229 BC LTD                                                              | 1261229 BC Ltd                                                                   | CUSIP: 68288AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   3693000 | PA      | $3843552.12   | 1.01%             | 2032-04-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| CAPSTONE BORROWER INC                                                       | Capstone Borrower Inc                                                            | CUSIP: 140944AA7<br>LEI: 254900YSP2BAI3YKIX08 | Long             | DBT              | CORP              | US        |    410000 | PA      | $422658.26    | 0.11%             | 2030-06-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| GETTY IMAGES INC                                                            | Getty Images Inc                                                                 | CUSIP: 374276AM5<br>LEI: 5493005NV20IG4VEKZ40 | Long             | DBT              | CORP              | US        |    120000 | PA      | $112625.98    | 0.03%             | 2030-02-21      | Fixed         | 11.25%                | No            |                  2 | On Loan: No      |
| PERMIAN RESOURC OPTG LLC                                                    | Permian Resources Operating LLC                                                  | CUSIP: 71424VAB6<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |   1940000 | PA      | $1990946.34   | 0.52%             | 2033-02-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD                                                         | NCL Corp Ltd                                                                     | CUSIP: 62886HBD2<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |    250000 | PA      | $250000.00    | 0.07%             | 2027-02-15      | Fixed         | 1.12%                 | No            |                  2 | On Loan: No      |
| AXON ENTERPRISE INC                                                         | Axon Enterprise Inc                                                              | CUSIP: 05464CAC5<br>LEI: 549300QP2IEEGFE16681 | Long             | DBT              | CORP              | US        |    380000 | PA      | $393240.72    | 0.10%             | 2030-03-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| WULF COMPUTE LLC                                                            | WULF Compute LLC                                                                 | CUSIP: 982911AA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1370000 | PA      | $1412481.55   | 0.37%             | 2030-10-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| SALLY HOLDINGS/SALLY CAP                                                    | Sally Holdings LLC / Sally Capital Inc                                           | CUSIP: 79546VAQ9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1700000 | PA      | $1777338.92   | 0.47%             | 2032-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| VERMILION ENERGY INC                                                        | Vermilion Energy Inc                                                             | CUSIP: 923725AE5<br>LEI: 8945009D1HGCJC8M8A68 | Long             | DBT              | CORP              | CA        |    680000 | PA      | $641182.27    | 0.17%             | 2033-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| ALTICE FINANCING SA                                                         | Altice Financing SA                                                              | CUSIP: 02154CAF0<br>LEI: 549300DIYGW8HVDF7Q17 | Long             | DBT              | CORP              | LU        |   2540000 | PA      | $1780691.99   | 0.47%             | 2028-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                                                            | CSC Holdings LLC                                                                 | CUSIP: 126307BD8<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |   1410000 | PA      | $504845.02    | 0.13%             | 2030-12-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| HCA INC                                                                     | HCA Inc                                                                          | CUSIP: 197677AH0<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   6033000 | PA      | $6564800.14   | 1.72%             | 2095-11-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| GLOBAL AUTO HO/AAG FH UK                                                    | Global Auto Holdings Ltd/AAG FH UK Ltd                                           | CUSIP: 00033YAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |   2000000 | PA      | $2102808.54   | 0.55%             | 2029-08-15      | Fixed         | 11.50%                | No            |                  2 | On Loan: No      |
| ASURION LLC/ASURION CO                                                      | Asurion LLC and Asurion Co-Issuer Inc                                            | CUSIP: 045941AA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2700000 | PA      | $2802941.33   | 0.74%             | 2032-12-31      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Magnetite CLO Ltd                                                           | Magnetite XXVI Ltd                                                               | CUSIP: 55955CAG7<br>LEI: 549300F7COUCG1RROP29 | Long             | ABS-CBDO         | CORP              | KY        |   1050000 | PA      | $1050731.64   | 0.28%             | 2038-01-25      | Floating      | 8.56%                 | No            |                  2 | On Loan: No      |
| AMC NETWORKS INC                                                            | AMC Networks Inc                                                                 | CUSIP: 00164VAG8<br>LEI: 549300VGG9K75226LR46 | Long             | DBT              | CORP              | US        |    700000 | PA      | $734504.40    | 0.19%             | 2029-01-15      | Fixed         | 10.25%                | No            |                  2 | On Loan: No      |
| MASTERBRAND INC                                                             | Masterbrand Inc                                                                  | CUSIP: 57638PAA2<br>LEI: 549300E0Y4BR5Z9RDZ64 | Long             | DBT              | CORP              | US        |    500000 | PA      | $518615.00    | 0.14%             | 2032-07-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                                               | TRANSDIGM INC                                                                    | CUSIP: 89364MCA0<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | LON              | CORP              | US        |    982538 | PA      | $987337.20    | 0.26%             | 2031-02-28      | Floating      | 6.27%                 | No            |                  2 | On Loan: No      |
| STARWOOD PROPERTY TRUST                                                     | Starwood Property Trust Inc                                                      | CUSIP: 85571BBC8<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              | CORP              | US        |    190000 | PA      | $195707.98    | 0.05%             | 2030-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| YPF SOCIEDAD ANONIMA                                                        | YPF SA                                                                           | CUSIP: 984245AQ3<br>LEI: 5493003N7447U18U5U53 | Long             | DBT              | CORP              | AR        |    530000 | PA      | $534634.32    | 0.14%             | 2027-07-21      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| AEROVIRONMENT INC                                                           | AeroVironment Inc                                                                | CUSIP: 008073AA6<br>LEI: 529900PGHVI29YLZ6221 | Long             | DBT              | CORP              | US        |     52000 | PA      | $56550.00     | 0.01%             | 2030-07-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Magnetite CLO Ltd                                                           | Magnetite XXIV Ltd                                                               | CUSIP: 55954XAE7<br>LEI: 549300P6T1S83Z2MDF55 | Long             | ABS-CBDO         | CORP              | KY        |    200000 | PA      | $201678.98    | 0.05%             | 2035-04-15      | Floating      | 10.30%                | No            |                  2 | On Loan: No      |
| Ascensus Group Holdings Inc (f/k/a Mercury Borrower Inc)                    | ASCENSUS HOLDINGS INC                                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    589010 | PA      | $589128.01    | 0.15%             | 2032-11-25      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| RR DONNELLEY & SONS CO                                                      | RR Donnelley & Sons Co                                                           | CUSIP: 257867BJ9<br>LEI: SU4X0P4WWRGOQDTSV032 | Long             | DBT              | CORP              | US        |   2180000 | PA      | $2254654.10   | 0.59%             | 2029-08-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| IHEARTCOMMUNICATIONS INC                                                    | iHeartCommunications Inc                                                         | CUSIP: 45174HBJ5<br>LEI: 54930076J6KDZL504O62 | Long             | DBT              | CORP              | US        |    760000 | PA      | $732579.20    | 0.19%             | 2029-05-01      | Fixed         | 9.12%                 | No            |                  2 | On Loan: No      |
| Black Diamond CLO Ltd                                                       | Black Diamond CLO 2021-1 Ltd                                                     | CUSIP: 09204WAM6<br>LEI: 549300IEWA7GZ3ECTT90 | Long             | ABS-CBDO         | CORP              | KY        |    770000 | PA      | $773783.93    | 0.20%             | 2034-11-22      | Floating      | 7.76%                 | No            |                  2 | On Loan: No      |
| JETBLUE AIRWAYS/LOYALTY                                                     | JetBlue Airways Corp / JetBlue Loyalty LP                                        | CUSIP: 476920AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |   1890000 | PA      | $1905755.44   | 0.50%             | 2031-09-20      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| Rad CLO Ltd                                                                 | RAD CLO 21 Ltd                                                                   | CUSIP: 750099AS2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1140000 | PA      | $1131450.00   | 0.30%             | 2037-01-25      | Floating      | 6.46%                 | No            |                  2 | On Loan: No      |
| HOWARD MIDSTREAM ENERGY                                                     | Howard Midstream Energy Partners LLC                                             | CUSIP: 442722AD6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    880000 | PA      | $904467.98    | 0.24%             | 2034-01-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| PETROLEOS DEL PERU SA                                                       | Petroleos del Peru SA                                                            | CUSIP: 716564AA7<br>LEI: 549300ZMGDLC9JT2OR80 | Long             | DBT              | CORP              | PE        |   1500000 | PA      | $1107262.50   | 0.29%             | 2032-06-19      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| SERVICE CORP INTL                                                           | Service Corp International/US                                                    | CUSIP: 817565BT0<br>LEI: 549300RKVM2ME20JHZ15 | Long             | DBT              | CORP              | US        |   1095000 | PA      | $1132323.08   | 0.30%             | 2027-04-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                                               | Citigroup Inc                                                                    | CUSIP: 172967QJ3<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    670000 | PA      | $681176.80    | 0.18%             | N/A             | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| CERDIA FINANZ GMBH                                                          | Cerdia Finanz GmbH                                                               | CUSIP: 15679GAC6<br>LEI: 391200KURNDJSX9GX570 | Long             | DBT              | CORP              | DE        |   1820000 | PA      | $1890525.00   | 0.50%             | 2031-10-03      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                                                            | CSC Holdings LLC                                                                 | CUSIP: 126307BB2<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |   2080000 | PA      | $1277303.87   | 0.34%             | 2030-12-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Magnetite CLO Ltd                                                           | Magnetite XXXII Ltd                                                              | CUSIP: 55953XAE8<br>LEI: 549300QUG3I8PF6T6C52 | Long             | ABS-CBDO         | CORP              | KY        |    820000 | PA      | $820984.57    | 0.22%             | 2037-10-15      | Floating      | 8.78%                 | No            |                  2 | On Loan: No      |
| APLD COMPUTECO LLC                                                          | APLD ComputeCo LLC                                                               | CUSIP: 00202DAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    690000 | PA      | $677356.03    | 0.18%             | 2030-12-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| CARNIVAL PLC                                                                | Carnival PLC                                                                     | CUSIP: 14365CAA1<br>LEI: 4DR1VPDQMHD3N3QW8W95 | Long             | DBT              | CORP              | GB        |   5780000 | PA      | $6336054.34   | 1.66%             | 2029-10-28      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| Triton Water Holdings Inc                                                   | PRIMO BRANDS CORP                                                                | CUSIP: 89678QAD8<br>LEI: 254900J0WS4AXV2LAX55 | Long             | LON              | CORP              | US        |   1227902 | PA      | $1232819.78   | 0.32%             | 2028-03-31      | Floating      | 5.92%                 | No            |                  2 | On Loan: No      |
| Clover CLO                                                                  | Clover CLO 2021-3 LLC                                                            | CUSIP: 18915FAG7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    480000 | PA      | $481208.93    | 0.13%             | 2035-01-25      | Floating      | 6.41%                 | No            |                  2 | On Loan: No      |
| COMMSCOPE LLC                                                               | CommScope LLC                                                                    | CUSIP: 20338MAA0<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |   1110000 | PA      | $1122099.23   | 0.29%             | 2031-12-15      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| DIRECTV FIN LLC/COINC                                                       | Directv Financing LLC / Directv Financing Co-Obligor Inc                         | CUSIP: 25461LAD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1450000 | PA      | $1482772.58   | 0.39%             | 2031-02-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| LifePoint Health Inc                                                        | LIFEPOINT HEALTH INC                                                             | CUSIP: 75915TAK8<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | LON              | CORP              | US        |   2468812 | PA      | $2479675.25   | 0.65%             | 2031-05-16      | Floating      | 8.58%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                                                    | Occidental Petroleum Corp                                                        | CUSIP: 674599DJ1<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |   1070000 | PA      | $1091517.70   | 0.29%             | 2040-03-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| STARWOOD PROPERTY TRUST                                                     | Starwood Property Trust Inc                                                      | CUSIP: 85571BBB0<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              | CORP              | US        |    750000 | PA      | $793014.00    | 0.21%             | 2029-04-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Hexion Holdings Corporation                                                 | HEXION HOLDINGS CORP                                                             | CUSIP: 00217XAE6<br>LEI: 549300LBB370MUHGLV84 | Long             | LON              | CORP              | US        |    500000 | PA      | $483482.50    | 0.13%             | 2029-03-15      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| ALPHA GENERATION LLC                                                        | Alpha Generation LLC                                                             | CUSIP: 02073LAA9<br>LEI: 254900K5V62L4YGVKF49 | Long             | DBT              | CORP              | US        |    940000 | PA      | $973590.60    | 0.26%             | 2032-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Medline Borrower LP                                                         | MEDLINE BORROWER LP                                                              | CUSIP: 58503UAH6<br>LEI: 254900QT3R363TVK6F09 | Long             | LON              | CORP              | US        |    397751 | PA      | $399380.14    | 0.10%             | 2028-10-23      | Floating      | 5.47%                 | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES INC                                                       | American Airlines Inc                                                            | CUSIP: 023771T32<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3670000 | PA      | $3753678.28   | 0.99%             | 2028-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| PROVINCIA DE CORDOBA                                                        | Provincia de Cordoba                                                             | CUSIP: 74408DAE4<br>LEI: 5299006CLM2Z97AATT29 | Long             | DBT              | NUSS              | AR        |    340000 | PA      | $325992.00    | 0.09%             | 2029-02-01      | Variable      | 6.88%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                                                            | CSC Holdings LLC                                                                 | CUSIP: 126307BH9<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |   5670000 | PA      | $3471967.80   | 0.91%             | 2031-11-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                                                    | Warnermedia Holdings Inc                                                         | CUSIP: 55903VBW2<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |   2520000 | PA      | $1779750.00   | 0.47%             | 2042-03-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| CHORD ENERGY CORP                                                           | Chord Energy Corp                                                                | CUSIP: 674215AN8<br>LEI: 529900FA4V2YNIKZ0M71 | Long             | DBT              | CORP              | US        |   1840000 | PA      | $1903989.68   | 0.50%             | 2033-03-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| WILLIAMS COMPANIES INC                                                      | Williams Cos Inc/The                                                             | CUSIP: 969457BB5<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |    620000 | PA      | $704168.50    | 0.18%             | 2031-01-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| OCP CLO Ltd                                                                 | OCP CLO 2023-26 Ltd                                                              | CUSIP: 67351PAG3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |    600000 | PA      | $596480.88    | 0.16%             | 2037-04-17      | Floating      | 8.33%                 | No            |                  2 | On Loan: No      |
| Nexus Buyer LLC                                                             | NEXUS BUYER LLC                                                                  | CUSIP: 65343UAJ1<br>LEI: 254900PILSANV8WOOF24 | Long             | LON              | CORP              | US        |    249375 | PA      | $247868.78    | 0.07%             | 2031-07-31      | Floating      | 7.72%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC                                                           | Herc Holdings Inc                                                                | CUSIP: 42704LAF1<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |    170000 | PA      | $179013.98    | 0.05%             | 2030-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| RR DONNELLEY & SONS CO                                                      | RR Donnelley & Sons Co                                                           | CUSIP: 257867BK6<br>LEI: SU4X0P4WWRGOQDTSV032 | Long             | DBT              | CORP              | US        |    630000 | PA      | $644769.01    | 0.17%             | 2029-08-01      | Fixed         | 10.88%                | No            |                  2 | On Loan: No      |
| Trestles CLO LTD                                                            | Trestles CLO VIII Ltd                                                            | CUSIP: 89533EAA6<br>LEI: 2549002BMO2L1UMJWE02 | Long             | ABS-CBDO         | CORP              | KY        |    390000 | PA      | $391796.03    | 0.10%             | 2035-06-11      | Floating      | 9.80%                 | No            |                  2 | On Loan: No      |
| EQUIPMENTSHARE.COM INC                                                      | EquipmentShare.com Inc                                                           | CUSIP: 29450YAB5<br>LEI: 254900PWJK48CGPKPI80 | Long             | DBT              | CORP              | US        |    600000 | PA      | $634513.21    | 0.17%             | 2032-05-15      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| MELCO RESORTS FINANCE                                                       | Melco Resorts Finance Ltd                                                        | CUSIP: 58547DAD1<br>LEI: 5493000FQDBWKDBZEF60 | Long             | DBT              | CORP              | KY        |   1367000 | PA      | $1354295.58   | 0.36%             | 2029-12-04      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Bear Mountain Park CLO, Ltd                                                 | Bear Mountain Park CLO Ltd                                                       | CUSIP: 07403KAE3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |    770000 | PA      | $773235.62    | 0.20%             | 2037-07-15      | Floating      | 9.85%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                                                      | Venture Global LNG Inc                                                           | CUSIP: 92332YAE1<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |    390000 | PA      | $375626.30    | 0.10%             | 2030-01-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| NGPL PIPECO LLC                                                             | NGPL PipeCo LLC                                                                  | CUSIP: 62912XAC8<br>LEI: 549300K3NT1HSQFEM073 | Long             | DBT              | CORP              | US        |   1020000 | PA      | $1187633.49   | 0.31%             | 2037-12-15      | Fixed         | 7.77%                 | No            |                  2 | On Loan: No      |
| ADD HERO HOLDINGS                                                           | Add Hero Holdings Ltd                                                            | CUSIP: 000000000<br>LEI: 254900WMSDP48LFA7478 | Long             | DBT              | CORP              | VG        |    343038 | PA      | $6860.77      | 0.00%             | 2031-09-30      | Fixed         | 9.80%                 | No            |                  2 | On Loan: No      |
| VERICAST CORPORATION                                                        | VERICAST CORP                                                                    | CUSIP: 92342KAD1<br>LEI: 549300J73P7FL8TVF308 | Long             | LON              | CORP              | US        |     32063 | PA      | $31211.08     | 0.01%             | 2030-06-14      | Floating      | 11.62%                | No            |                  2 | On Loan: No      |
| AGL CLO 1 Ltd.                                                              | AGL CLO 17 Ltd                                                                   | CUSIP: 00120EAE4<br>LEI: 254900ISUA07JPVCOS18 | Long             | ABS-CBDO         | CORP              | KY        |   1240000 | PA      | $1194157.70   | 0.31%             | 2035-01-21      | Floating      | 8.52%                 | No            |                  2 | On Loan: No      |
| First Brands Group LLC                                                      | FIRST BRANDS GROUP LLC                                                           | CUSIP: 31935HAN7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    432366 | PA      | $7566.41      | 0.00%             | 2026-06-29      | Variable      | 10.84%                | No            |                  2 | On Loan: No      |
| First Brands Group LLC                                                      | First Brands Group LLC                                                           | CUSIP: 31935HAG2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    344665 | PA      | $1857.75      | 0.00%             | 2027-03-30      | Floating      | 10.99%                | No            |                  3 | On Loan: No      |
| BAUSCH HEALTH COS INC                                                       | Bausch Health Cos Inc                                                            | CUSIP: 071734AK3<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |    210000 | PA      | $169312.50    | 0.04%             | 2029-02-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP/US FIN                                                    | Clarios Global LP / Clarios US Finance Co                                        | CUSIP: 18060TAD7<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |    980000 | PA      | $1025628.80   | 0.27%             | 2030-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| BAUSCH HEALTH AMERICAS                                                      | Bausch Health Americas Inc                                                       | CUSIP: 91911XAW4<br>LEI: KOO0397YRO83WY5MGD97 | Long             | DBT              | CORP              | US        |     10000 | PA      | $9909.13      | 0.00%             | 2027-01-31      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| VIKING CRUISES LTD                                                          | Viking Cruises Ltd                                                               | CUSIP: 92676XAF4<br>LEI: 549300IJP90T4MV2GL84 | Long             | DBT              | CORP              | BM        |   3000000 | PA      | $3028110.00   | 0.79%             | 2029-02-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| MILLROSE PROPERTIES INC                                                     | Millrose Properties Inc                                                          | CUSIP: 601137AA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1520000 | PA      | $1556280.88   | 0.41%             | 2030-08-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Spirit Aviation Holdings Inc                                                | Spirit Aviation Holdings Inc                                                     | CUSIP: 84863V101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     59529 | NS      | $14941.78     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| FULL HOUSE RESORTS INC                                                      | Full House Resorts Inc                                                           | CUSIP: 359678AC3<br>LEI: 5493009DKIWW0H901Y82 | Long             | DBT              | CORP              | US        |   3300000 | PA      | $2879250.00   | 0.76%             | 2028-02-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| SHIFT4 PAYMENTS LLC/FIN                                                     | Shift4 Payments LLC / Shift4 Payments Finance Sub Inc                            | CUSIP: 82453AAB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    540000 | PA      | $557866.98    | 0.15%             | 2032-08-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                                                              | Bombardier Inc                                                                   | CUSIP: 097751BZ3<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |   2990000 | PA      | $3119963.34   | 0.82%             | 2029-02-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| VERMILION ENERGY INC                                                        | Vermilion Energy Inc                                                             | CUSIP: 923725AD7<br>LEI: 8945009D1HGCJC8M8A68 | Long             | DBT              | CORP              | CA        |    730000 | PA      | $722697.83    | 0.19%             | 2030-05-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| QUIKRETE HOLDINGS INC                                                       | Quikrete Holdings Inc                                                            | CUSIP: 74843PAA8<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |   1700000 | PA      | $1770609.50   | 0.46%             | 2032-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| ROCKET COS INC                                                              | Rocket Cos Inc                                                                   | CUSIP: 77311WAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1030000 | PA      | $1065281.76   | 0.28%             | 2030-08-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| STONEX ESCROW ISSUER LLC                                                    | Stonex Escrow Issuer LLC                                                         | CUSIP: 86189AAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    660000 | PA      | $685025.22    | 0.18%             | 2032-07-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| RANGE RESOURCES CORP                                                        | Range Resources Corp                                                             | CUSIP: 75281ABJ7<br>LEI: H3Y3WLYCX0BTO1TRW162 | Long             | DBT              | CORP              | US        |    620000 | PA      | $632673.75    | 0.17%             | 2029-01-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| VISTAJET MALTA/VM HOLDS                                                     | VistaJet Malta Finance PLC / Vista Management Holding Inc                        | CUSIP: 92840JAB5<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |    880000 | PA      | $838119.64    | 0.22%             | 2030-02-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD                                                         | NCL Corp Ltd                                                                     | CUSIP: 62886HBG5<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |   1871000 | PA      | $1992852.54   | 0.52%             | 2029-02-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| ACRISURE LLC / FIN INC                                                      | Acrisure LLC / Acrisure Finance Inc                                              | CUSIP: 004961AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    370000 | PA      | $382779.06    | 0.10%             | 2032-07-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                                                    | CHS/Community Health Systems Inc                                                 | CUSIP: 12543DBJ8<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |   1790000 | PA      | $1594800.50   | 0.42%             | 2029-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| 720 East CLO Ltd.                                                           | 720 East CLO VII Ltd                                                             | CUSIP: 81789NAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    390000 | PA      | $385772.24    | 0.10%             | 2037-04-20      | Floating      | 8.63%                 | No            |                  2 | On Loan: No      |
| Galaxy CLO Ltd                                                              | Galaxy XXV CLO Ltd                                                               | CUSIP: 36319XBJ5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    510000 | PA      | $510016.47    | 0.13%             | 2036-04-25      | Floating      | 6.56%                 | No            |                  2 | On Loan: No      |
| Dryden Senior Loan Fund                                                     | Dryden 113 CLO Ltd                                                               | CUSIP: 26253EBR8<br>LEI: 254900XN9Y85HJGYJ219 | Long             | ABS-CBDO         | CORP              | JE        |    670000 | PA      | $674424.95    | 0.18%             | 2037-10-15      | Floating      | 6.90%                 | No            |                  2 | On Loan: No      |
| Carval CLO LTD                                                              | CarVal CLO XI C Ltd                                                              | CUSIP: 14688TAA4<br>LEI: 254900BDRF474L9PWM54 | Long             | ABS-CBDO         | CORP              | KY        |   1020000 | PA      | $1035166.79   | 0.27%             | 2037-10-20      | Floating      | 10.23%                | No            |                  2 | On Loan: No      |
| ADD HERO HOLDINGS                                                           | Add Hero Holdings Ltd                                                            | CUSIP: 000000000<br>LEI: 254900WMSDP48LFA7478 | Long             | DBT              | CORP              | VG        |    259874 | PA      | $5197.47      | 0.00%             | 2030-09-30      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| NCL FINANCE LTD                                                             | NCL Finance Ltd                                                                  | CUSIP: 62888HAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   1510000 | PA      | $1557815.10   | 0.41%             | 2028-03-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| VISTAJET MALTA/VM HOLDS                                                     | VistaJet Malta Finance PLC / Vista Management Holding Inc                        | CUSIP: 92840JAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |    770000 | PA      | $776245.47    | 0.20%             | 2027-05-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Nexus Buyer LLC                                                             | NEXUS BUYER LLC                                                                  | CUSIP: 65343UAH5<br>LEI: 254900PILSANV8WOOF24 | Long             | LON              | CORP              | US        |    691281 | PA      | $682677.61    | 0.18%             | 2031-07-31      | Floating      | 7.22%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                                                       | Venture Global Plaquemines LNG LLC                                               | CUSIP: 922966AF3<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |    690000 | PA      | $705371.58    | 0.19%             | 2034-06-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| UNITED RENTALS NORTH AM                                                     | United Rentals North America Inc                                                 | CUSIP: 911365BR4<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1042923.01   | 0.27%             | 2034-03-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                                                           | Iron Mountain Inc                                                                | CUSIP: 46284VAP6<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |    540000 | PA      | $555039.54    | 0.15%             | 2029-02-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| NEPTUNE BIDCO US INC                                                        | Neptune Bidco US Inc                                                             | CUSIP: 640695AC6<br>LEI: 549300VG15T3VCYZ4531 | Long             | DBT              | CORP              | US        |   1890000 | PA      | $1938971.79   | 0.51%             | 2031-05-15      | Fixed         | 10.38%                | No            |                  2 | On Loan: No      |
| NORTHERN OIL & GAS INC                                                      | Northern Oil & Gas Inc                                                           | CUSIP: 665531AL3<br>LEI: OKFF0PIZDDMNH4UCYE51 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1169141.40   | 0.31%             | 2033-10-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| LLOYDS BANKING GROUP PLC                                                    | Lloyds Banking Group PLC                                                         | CUSIP: 53944YAV5<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |   1840000 | PA      | $1992039.20   | 0.52%             | N/A             | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| WW International Inc                                                        | WW International Inc                                                             | CUSIP: 98262P200<br>LEI: SGT8R1MU6ESIC7UJC518 | Long             | EC               | CORP              | US        |     24439 | NS      | $713985.39    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| COREWEAVE INC                                                               | CoreWeave Inc                                                                    | CUSIP: 21873SAB4<br>LEI: 984500511DP2B6186053 | Long             | DBT              | CORP              | US        |   2830000 | PA      | $2634185.51   | 0.69%             | 2030-06-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                                                    | Vistra Operations Co LLC                                                         | CUSIP: 92840VAP7<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    920000 | PA      | $974875.41    | 0.26%             | 2031-10-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| BAUSCH HEALTH COS INC                                                       | Bausch Health Cos Inc                                                            | CUSIP: 071734AN7<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |    820000 | PA      | $734515.00    | 0.19%             | 2028-06-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                                                      | Venture Global LNG Inc                                                           | CUSIP: 92332YAF8<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |   3180000 | PA      | $2513665.03   | 0.66%             | N/A             | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| ALTICE FINANCING SA                                                         | Altice Financing SA                                                              | CUSIP: 02154CAH6<br>LEI: 549300DIYGW8HVDF7Q17 | Long             | DBT              | CORP              | LU        |   3200000 | PA      | $2222254.85   | 0.58%             | 2029-08-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| BOOST NEWCO BORROWER LLC                                                    | Boost Newco Borrower LLC/GTCR W Dutch Finance Sub BV                             | CUSIP: 36268NAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | NL        |   1160000 | PA      | $1674016.23   | 0.44%             | 2031-01-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                                                    | Charter Communications Operating LLC / Charter Communications Operating Capital  | CUSIP: 161175BY9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   8520000 | PA      | $5084585.62   | 1.33%             | 2061-04-01      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| GoldenTree Loan Management US                                               | Goldentree Loan Management US CLO 1 Ltd                                          | CUSIP: 38136HAS8<br>LEI: 549300BE2068MP2P8N06 | Long             | ABS-CBDO         | CORP              | KY        |    470000 | PA      | $463681.46    | 0.12%             | 2034-04-20      | Floating      | 8.38%                 | No            |                  2 | On Loan: No      |
| SPIRIT AEROSYSTEMS INC                                                      | Spirit Contingent TL                                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1559051 | PA      | $635625.19    | 0.17%             | 2026-07-14      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| Apex Credit CLO LLC                                                         | Apex Credit CLO 2019-II Ltd                                                      | CUSIP: 03755DAE2<br>LEI: 549300OKB854VBBC1981 | Long             | ABS-CBDO         | CORP              | KY        |    820000 | PA      | $808081.46    | 0.21%             | 2038-01-25      | Floating      | 11.53%                | No            |                  2 | On Loan: No      |
| Balboa Bay Loan Funding Ltd                                                 | Balboa Bay Loan Funding 2023-1 Ltd                                               | CUSIP: 05766HAF2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    980000 | PA      | $973391.27    | 0.26%             | 2036-04-20      | Floating      | 9.28%                 | No            |                  2 | On Loan: No      |
| CAPSTONE COPPER CORP                                                        | Capstone Copper Corp                                                             | CUSIP: 14071LAA6<br>LEI: 549300III6KGKKC42W63 | Long             | DBT              | CORP              | CA        |    650000 | PA      | $675094.04    | 0.18%             | 2033-03-31      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| PM GENERAL PURCHASER LLC                                                    | PM General Purchaser LLC                                                         | CUSIP: 69356MAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3027500.00   | 0.79%             | 2028-10-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                                              | NRG Energy Inc                                                                   | CUSIP: 629377DD1<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |   2090000 | PA      | $2118775.87   | 0.56%             | 2036-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| VFH PARENT / VALOR CO                                                       | VFH Parent LLC / Valor Co-Issuer Inc                                             | CUSIP: 91824YAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    780000 | PA      | $818900.16    | 0.21%             | 2031-06-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Trinitas CLO Ltd                                                            | Trinitas CLO XXVII LTD                                                           | CUSIP: 89642VAJ7<br>LEI: 254900JOSDBR04E6JB79 | Long             | ABS-CBDO         | CORP              | KY        |    280000 | PA      | $282787.85    | 0.07%             | 2037-04-18      | Floating      | 8.18%                 | No            |                  2 | On Loan: No      |
| WW International Inc                                                        | WW INTERNATIONAL INC                                                             | CUSIP: 92941PAE3<br>LEI: SGT8R1MU6ESIC7UJC518 | Long             | LON              | CORP              | US        |    868802 | PA      | $769511.19    | 0.20%             | 2030-06-24      | Floating      | 10.49%                | No            |                  2 | On Loan: No      |
| GETTY IMAGES INC                                                            | Getty Images Inc                                                                 | CUSIP: 374276AR4<br>LEI: 5493005NV20IG4VEKZ40 | Long             | DBT              | CORP              | US        |    610000 | PA      | $615504.03    | 0.16%             | 2030-11-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| TALEN ENERGY SUPPLY LLC                                                     | Talen Energy Supply LLC                                                          | CUSIP: 87422VAN8<br>LEI: K5K33XN0PQAU1XF7NN66 | Long             | DBT              | CORP              | US        |    610000 | PA      | $631175.94    | 0.17%             | 2036-02-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| MILLROSE PROPERTIES INC                                                     | Millrose Properties Inc                                                          | CUSIP: 601137AB8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    440000 | PA      | $444293.69    | 0.12%             | 2032-09-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                                                       | Level 3 Financing Inc                                                            | CUSIP: 527298CM3<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    430000 | PA      | $440362.14    | 0.12%             | 2033-06-30      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| DIVERSIFIED HEALTHCARE T                                                    | Diversified Healthcare Trust                                                     | CUSIP: 25525PAB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    240000 | PA      | $212336.88    | 0.06%             | 2031-03-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Modena Buyer LLC                                                            | MODENA BUYER LLC                                                                 | CUSIP: 60753DAC8<br>LEI: 254900B0G2IU0VBDOY26 | Long             | LON              | CORP              | US        |    792000 | PA      | $789461.64    | 0.21%             | 2031-07-01      | Floating      | 8.09%                 | No            |                  2 | On Loan: No      |
| SUMMIT MIDSTREAM HOLDING                                                    | Summit Midstream Holdings LLC                                                    | CUSIP: 86614JAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    410000 | PA      | $425406.98    | 0.11%             | 2029-10-31      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| CREDIT SUISSE ESCROW CL                                                     | CREDIT SUISSE ESCROW CL                                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  10560000 | PA      | $0.00         | 0.00%             | 2050-01-01      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| CHINA AOYUAN GROUP LTD                                                      | China Aoyuan Group Ltd                                                           | CUSIP: 000000000<br>LEI: 549300YSOKQO5QD6MP25 | Long             | DBT              | CORP              | KY        |    450290 | PA      | $3377.17      | 0.00%             | N/A             | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| ADD HERO HOLDINGS                                                           | Add Hero Holdings Ltd                                                            | CUSIP: 000000000<br>LEI: 254900WMSDP48LFA7478 | Long             | DBT              | CORP              | VG        |    319090 | PA      | $15156.76     | 0.00%             | 2029-09-30      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| ECHOSTAR CORP                                                               | EchoStar Corp                                                                    | CUSIP: 278768AA4<br>LEI: 549300EE20907QZ9GT38 | Long             | DBT              | CORP              | US        |   2111367 | PA      | $2165668.38   | 0.57%             | 2030-11-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CELANESE US HOLDINGS LLC                                                    | Celanese US Holdings LLC                                                         | CUSIP: 15089QBC7<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |    410000 | PA      | $420026.05    | 0.11%             | 2031-02-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| CRESCENT ENERGY FINANCE                                                     | Crescent Energy Finance LLC                                                      | CUSIP: 45344LAE3<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |   2530000 | PA      | $2402517.90   | 0.63%             | 2033-01-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| MPT OPER PARTNERSP/FINL                                                     | MPT Operating Partnership LP / MPT Finance Corp                                  | CUSIP: 55342UAH7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    880000 | PA      | $852923.63    | 0.22%             | 2027-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS                                                    | Univision Communications Inc                                                     | CUSIP: 914906BA9<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1344410.00   | 0.35%             | 2032-08-01      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| METLIFE CAPITAL TRUST IV                                                    | MetLife Capital Trust IV                                                         | CUSIP: 591560AA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1010000 | PA      | $1120726.30   | 0.29%             | 2037-12-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| NOBLE FINANCE II LLC                                                        | Noble Finance II LLC                                                             | CUSIP: 65505PAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    850000 | PA      | $883629.14    | 0.23%             | 2030-04-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| LIGHTNING POWER LLC                                                         | Lightning Power LLC                                                              | CUSIP: 53229KAA7<br>LEI: 254900BWCHJ03XRL8K59 | Long             | DBT              | CORP              | US        |    940000 | PA      | $1000081.04   | 0.26%             | 2032-08-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| GEO GROUP INC/THE                                                           | GEO Group Inc/The                                                                | CUSIP: 36162JAG1<br>LEI: 54930024XOXET7NQVZ63 | Long             | DBT              | CORP              | US        |   1210000 | PA      | $1273504.42   | 0.33%             | 2029-04-15      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| MFA FINANCIAL INC                                                           | MFA Financial Inc                                                                | CUSIP: 55272X508<br>LEI: YW72IMH2RRC8Z1TGLG58 | Long             | EP               | CORP              | US        |     18881 | NS      | $430864.42    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| WYNN MACAU LTD                                                              | Wynn Macau Ltd                                                                   | CUSIP: 98313RAH9<br>LEI: 254900NMDQ8ENTHU1I31 | Long             | DBT              | CORP              | KY        |   1970000 | PA      | $1970887.68   | 0.52%             | 2028-08-26      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Spirit Airlines, LLC                                                        | Spirit Airlines, LLC Second DIP New Money Delayed TL                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     84369 | PA      | $72979.23     | 0.02%             | 2026-07-14      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ZF NA CAPITAL                                                               | ZF North America Capital Inc                                                     | CUSIP: 98877DAH8<br>LEI: 529900JYGMS9CW9IQX78 | Long             | DBT              | CORP              | US        |    970000 | PA      | $981118.14    | 0.26%             | 2031-03-24      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                                                    | Vistra Operations Co LLC                                                         | CUSIP: 92840VAR3<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    860000 | PA      | $906345.61    | 0.24%             | 2032-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                                                      | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCN1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1360000 | PA      | $1221527.93   | 0.32%             | 2032-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| RB GLOBAL HOLDINGS INC                                                      | RB Global Holdings Inc                                                           | CUSIP: 76774LAC1<br>LEI: 254900LH3N0EGB1LQ203 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1308393.75   | 0.34%             | 2031-03-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Palmer Square Loan Funding Ltd                                              | Palmer Square Loan Funding 2024-1 Ltd                                            | CUSIP: 69703QAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    550000 | PA      | $548492.89    | 0.14%             | 2032-10-15      | Floating      | 8.80%                 | No            |                  2 | On Loan: No      |
| Invesco CLO LTD                                                             | Invesco CLO 2021-3 Ltd                                                           | CUSIP: 46151VAJ0<br>LEI: 5493000BVI47XOSBML18 | Long             | ABS-CBDO         | CORP              | KY        |    530000 | PA      | $532015.80    | 0.14%             | 2034-10-22      | Floating      | 6.96%                 | No            |                  2 | On Loan: No      |
| CARRIAGE PURCHASER INC                                                      | Carriage Purchaser Inc                                                           | CUSIP: 14445LAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2020000 | PA      | $1940549.36   | 0.51%             | 2029-10-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| TEVA PHARMACEUTICALS NE                                                     | Teva Pharmaceutical Finance Netherlands III BV                                   | CUSIP: 88167AAT8<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |   1420000 | PA      | $1491380.77   | 0.39%             | 2032-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| DISH DBS CORP                                                               | DISH DBS Corp                                                                    | CUSIP: 25470XBD6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2768000 | PA      | $2459060.75   | 0.65%             | 2029-06-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| ECHOSTAR CORP                                                               | EchoStar Corp                                                                    | CUSIP: 278768AB2<br>LEI: 549300EE20907QZ9GT38 | Long             | DBT              | CORP              | US        |    160068 | PA      | $535025.92    | 0.14%             | 2030-11-30      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| AGL CLO 1 Ltd.                                                              | AGL CLO 44 Ltd                                                                   | CUSIP: 00122AAA8<br>LEI: 254900WK97J0UDI0DQ10 | Long             | ABS-CBDO         | CORP              | KY        |    745000 | PA      | $748481.53    | 0.20%             | 2037-10-22      | Floating      | 8.70%                 | No            |                  2 | On Loan: No      |
| WESTERN MIDSTREAM OPERAT                                                    | Western Midstream Operating LP                                                   | CUSIP: 958667AA5<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |   3560000 | PA      | $3049820.57   | 0.80%             | 2050-02-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| Wellesley Park CLO LTD                                                      | Wellesley Park CLO Ltd                                                           | CUSIP: 94949BAA0<br>LEI: 254900LVLIQL8YP6PL27 | Long             | ABS-CBDO         | CORP              | KY        |    390000 | PA      | $387057.53    | 0.10%             | 2039-01-24      | Floating      | 8.51%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-02-25

**Name of Applicant:** Western Asset High Income Opportunity Fund Inc.

**Signature:** Christopher Berarducci

**Name of Signer:** Christopher Berarducci

**Title:** Principal Financial Officer