# EDGAR Filing Document

**Accession Number:** 0001722478
**File Stem:** 0001145549-23-013578
**Filing Date:** 2023-2
**Character Count:** 175475
**Document Hash:** 6040fcba16bdd5c437a17e39e6dbaecd
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-23-013578.hdr.sgml**: 20230228

**ACCESSION NUMBER**: 0001145549-23-013578

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230228

**DATE AS OF CHANGE**: 20230228

**PERIOD START**: 20221231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PPM Funds
- **CENTRAL INDEX KEY:** 0001722478
- **IRS NUMBER:** 363714794
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23308
- **FILM NUMBER:** 23683314

**BUSINESS ADDRESS:**
- **STREET 1:** 225 WEST WACKER DRIVE
- **STREET 2:** SUITE 1200
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606
- **BUSINESS PHONE:** 3126342500

**MAIL ADDRESS:**
- **STREET 1:** 225 WEST WACKER DRIVE
- **STREET 2:** SUITE 1200
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606

## Series and Classes Contracts Data

### PPM High Yield Core Fund (Series ID: S000061238)

| Class ID   | Class Name                      | Ticker Symbol   |
|:---|:---|:---|
| C000198336 | PPM High Yield Core Fund (Inst) |  |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** PPM Funds

- **b. Investment Company Act file number:** 811-23308

- **c. CIK number of Registrant:** 0001722478

- **d. LEI of Registrant:** 549300UPJLTA0X102E93

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

  - **Street Address 1:** 225 W. Wacker Drive

  - **City:** Chicago

  - **State:** IL

  - **Foreign country:** US

  - **Zip / Postal Code:** 60606

  - **Telephone number:** 312-634-2500

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

- **a. Name of Series:** PPM High Yield Core Fund

- **b. EDGAR series identifier (if any):** S000061238

- **c. LEI of Series:** 549300MC39185L8C1I66

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

- **a. Date of fiscal year-end:** 2022-12-31

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $57948512.28

**Total Liabilities:** $3090406.26

**Net Assets:** $54858106.02

**Cash Not Reported:** $25528.87

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0.000000000000 | **1-Year:** 47.329231520000 | **5-Year:** 655.955578400000 | **10-Year:** 1258.118936000000 | **30-Year:** 410.902040600000

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

- **3-Month:** 1.709304900000 | **1-Year:** 1782.889487000000 | **5-Year:** 11476.157040000000 | **10-Year:** 5654.075845000000 | **30-Year:** 783.240859500000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000198336 | 3.00%                | 1.86%                | -0.81%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-291487.89              | $1574140.68                                |
| Month 2  | $-372226.11              | $1039798.62                                |
| Month 3  | $-221730.03              | $-557083.77                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| State Street Navigator Securities Lending Government Money Market Portfolio | State Street Navigator Securities Lending Government Money Market Portfolio | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | RF                | US        |   3012035 | NS      | $3012035.00   | 5.49%             |  |  |  | No            |                  1 | On Loan: No      |
| CSC Holdings, LLC                                                           | CSC Holdings, LLC                                                           | CUSIP: 126307AS6<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    448000 | PA      | $361125.60    | 0.66%             | 2028-02-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Callon Petroleum Company                                                    | Callon Petroleum Company                                                    | CUSIP: 13123XAZ5<br>LEI: 549300EFOWPEB0WLZW21 | Long             | DBT              | CORP              | US        |    316000 | PA      | $297232.39    | 0.54%             | 2026-07-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: —       |
| Carnival Corporation                                                        | Carnival Corporation                                                        | CUSIP: 143658BQ4<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | US        |     40000 | PA      | $32587.64     | 0.06%             | 2028-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Clear Channel Outdoor Holdings, Inc.                                        | Clear Channel Outdoor Holdings, Inc.                                        | CUSIP: 18453H106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8143 | NS      | $8550.15      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Commscope Finance LLC                                                       | Commscope Finance LLC                                                       | CUSIP: 20338QAD5<br>LEI: 254900AW4CEPCQWSRI58 | Long             | DBT              | CORP              | US        |     81000 | PA      | $74754.42     | 0.14%             | 2026-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Connect Finco SARL                                                          | Connect Finco SARL                                                          | CUSIP: 20752TAA2<br>LEI: 2594001KNYIQ456J2792 | Long             | DBT              | CORP              | US        |    150000 | PA      | $139740.50    | 0.25%             | 2026-10-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Group AG                                                      | Credit Suisse Group AG                                                      | CUSIP: 225401AV0<br>LEI: 549300506SI9CRFV9Z86 | Long             | DBT              | CORP              | US        |    250000 | PA      | $229414.75    | 0.42%             | 2028-08-11      | Fixed         | 6.44%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Group AG                                                      | Credit Suisse Group AG                                                      | CUSIP: 225436AA2<br>LEI: 549300506SI9CRFV9Z86 | Long             | DBT              | CORP              | US        |    395000 | PA      | $309107.25    | 0.56%             | 2500-12-31      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| DT Midstream, Inc.                                                          | DT Midstream, Inc.                                                          | CUSIP: 23345MAB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     26000 | PA      | $21745.28     | 0.04%             | 2031-06-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Dana Financing Luxembourg S.a r.l.                                          | Dana Financing Luxembourg S.a r.l.                                          | CUSIP: 235822AB9<br>LEI: 222100DKCE3D036DQU13 | Long             | DBT              | CORP              | US        |     47000 | PA      | $46337.12     | 0.08%             | 2025-04-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Dana Incorporated                                                           | Dana Incorporated                                                           | CUSIP: 235825AF3<br>LEI: KVWHW7YLZPFJM8QYNJ51 | Long             | DBT              | CORP              | US        |     43000 | PA      | $39876.30     | 0.07%             | 2027-11-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Ford Motor Company                                                          | Ford Motor Company                                                          | CUSIP: 345370BY5<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |     83000 | PA      | $82605.75     | 0.15%             | 2028-10-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Summit Materials, LLC                                                       | Summit Materials, LLC                                                       | CUSIP: 86614RAN7<br>LEI: 549300C97P3BW8QROE16 | Long             | DBT              | CORP              | US        |    150000 | PA      | $139744.23    | 0.25%             | 2029-01-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Transocean Proteus Limited                                                  | Transocean Proteus Limited                                                  | CUSIP: 893829AA9<br>LEI: 5493000CTMQ2LH21VM89 | Long             | DBT              | CORP              | US        |    110800 | PA      | $109692.64    | 0.20%             | 2024-12-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Transocean Inc                                                              | Transocean Inc                                                              | CUSIP: 893830BL2<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | US        |    160000 | PA      | $130374.07    | 0.24%             | 2027-02-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Travel + Leisure Co.                                                        | Travel + Leisure Co.                                                        | CUSIP: 894164AA0<br>LEI: T4VNTWMFQ7JQB65L7T35 | Long             | DBT              | CORP              | US        |    124000 | PA      | $101070.86    | 0.18%             | 2029-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| AMC Entertainment Holdings, Inc.                                            | AMC Entertainment Holdings, Inc.                                            | CUSIP: 00165CBA1<br>LEI: 549300ZO77UNR6NRBR11 | Long             | DBT              | CORP              | US        |    205000 | PA      | $111513.94    | 0.20%             | 2029-02-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Acrisure, LLC                                                               | Acrisure, LLC                                                               | CUSIP: 00489LAA1<br>LEI: 549300R0Z1Q47XRTGO22 | Long             | DBT              | CORP              | US        |    204000 | PA      | $187610.53    | 0.34%             | 2025-11-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Advisor Group Holdings, Inc.                                                | Advisor Group Holdings, Inc.                                                | CUSIP: 00791GAA5<br>LEI: 549300XL60BDV6UW5C86 | Long             | DBT              | CORP              | US        |    188000 | PA      | $191763.28    | 0.35%             | 2027-08-01      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| AG TTMT Escrow Issuer LLC                                                   | AG TTMT Escrow Issuer LLC                                                   | CUSIP: 00840KAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     57000 | PA      | $57532.85     | 0.10%             | 2027-09-30      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| Safeway Inc.                                                                | Safeway Inc.                                                                | CUSIP: 013092AB7<br>LEI: 549300YKWOC0AOR16R51 | Long             | DBT              | CORP              | US        |    131000 | PA      | $124627.31    | 0.23%             | 2028-02-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Safeway Inc.                                                                | Safeway Inc.                                                                | CUSIP: 013092AG6<br>LEI: 549300YKWOC0AOR16R51 | Long             | DBT              | CORP              | US        |    151000 | PA      | $126619.26    | 0.23%             | 2029-03-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Albion Financing 2 S.a r.l.                                                 | Albion Financing 2 S.a r.l.                                                 | CUSIP: 013305AA5<br>LEI: 2594009X2UW7EQPIKY23 | Long             | DBT              | CORP              | US        |    264000 | PA      | $223954.82    | 0.41%             | 2027-04-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Ardagh Packaging Finance Public Limited Company                             | Ardagh Packaging Finance Public Limited Company                             | CUSIP: 03969AAN0<br>LEI: 6354001JXMLKNZDZR978 | Long             | DBT              | CORP              | US        |    353000 | PA      | $306007.52    | 0.56%             | 2026-08-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Community Health Systems, Inc.                                              | Community Health Systems, Inc.                                              | CUSIP: 12543DBK5<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |    198000 | PA      | $144106.43    | 0.26%             | 2031-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Corebridge Financial, Inc.                                                  | Corebridge Financial, Inc.                                                  | CUSIP: 21871XAN9<br>LEI: 549300XY1661QCIA7J65 | Long             | DBT              | CORP              | US        |    141000 | PA      | $131257.93    | 0.24%             | 2052-12-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Dana Incorporated                                                           | Dana Incorporated                                                           | CUSIP: 235825AG1<br>LEI: KVWHW7YLZPFJM8QYNJ51 | Long             | DBT              | CORP              | US        |     93000 | PA      | $84603.90     | 0.15%             | 2028-06-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| State Street U.S. Government Money Market Fund                              | State Street U.S. Government Money Market Fund                              | CUSIP: 857492706<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   1071185 | NS      | $1071184.98   | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Stena International S.A R.L.                                                | Stena International S.A R.L.                                                | CUSIP: 85858EAB9<br>LEI: 213800A4LTGG4W55QP46 | Long             | DBT              | CORP              | US        |    282000 | PA      | $262457.22    | 0.48%             | 2025-02-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| TKC Holdings, Inc.                                                          | TKC Holdings, Inc.                                                          | CUSIP: 87256YAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $84820.40     | 0.15%             | 2029-05-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: —       |
| T-Mobile USA, Inc.                                                          | T-Mobile USA, Inc.                                                          | CUSIP: 87264ABV6<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    149000 | PA      | $131280.87    | 0.24%             | 2029-04-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Tap Rock Resources, LLC                                                     | Tap Rock Resources, LLC                                                     | CUSIP: 87602LAA0<br>LEI: 549300Y3SDS1HPFQ6H17 | Long             | DBT              | CORP              | US        |    134000 | PA      | $124691.71    | 0.23%             | 2026-10-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Targa Resources Partners LP                                                 | Targa Resources Partners LP                                                 | CUSIP: 87612BBQ4<br>LEI: 6OQWTZ1SPC04IFT4T704 | Long             | DBT              | CORP              | US        |    119000 | PA      | $112141.82    | 0.20%             | 2030-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Targa Resources Partners LP                                                 | Targa Resources Partners LP                                                 | CUSIP: 87612BBS0<br>LEI: 6OQWTZ1SPC04IFT4T704 | Long             | DBT              | CORP              | US        |     56000 | PA      | $50598.88     | 0.09%             | 2031-02-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Telecom Italia SPA                                                          | Telecom Italia SPA                                                          | CUSIP: 87927YAA0<br>LEI: 549300W384M3RI3VXU42 | Long             | DBT              | CORP              | US        |     85000 | PA      | $80614.34     | 0.15%             | 2024-05-30      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Tenet Healthcare Corporation                                                | Tenet Healthcare Corporation                                                | CUSIP: 88033GDL1<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    208000 | PA      | $180088.57    | 0.33%             | 2029-06-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| DaVita Inc.                                                                 | DaVita Inc.                                                                 | CUSIP: 23918KAT5<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |    470000 | PA      | $350536.47    | 0.64%             | 2031-02-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Entegris, Inc.                                                              | Entegris, Inc.                                                              | CUSIP: 29362UAC8<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | DBT              | CORP              | US        |     94000 | PA      | $83020.89     | 0.15%             | 2028-04-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Entegris Escrow Corporation                                                 | Entegris Escrow Corporation                                                 | CUSIP: 29365BAA1<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | DBT              | CORP              | US        |    115000 | PA      | $105183.15    | 0.19%             | 2029-04-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Entegris Escrow Corporation                                                 | Entegris Escrow Corporation                                                 | CUSIP: 29365BAB9<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | DBT              | CORP              | US        |    241000 | PA      | $222334.45    | 0.41%             | 2030-06-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Ford Motor Company                                                          | Ford Motor Company                                                          | CUSIP: 345370CX6<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |     64000 | PA      | $72486.55     | 0.13%             | 2030-04-22      | Fixed         | 9.63%                 | No            |                  2 | On Loan: No      |
| Frontier Communications Holdings, LLC                                       | Frontier Communications Holdings, LLC                                       | CUSIP: 35908MAD2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    118000 | PA      | $120479.54    | 0.22%             | 2030-05-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| General Motors Company                                                      | General Motors Company                                                      | CUSIP: 37045VAZ3<br>LEI: 54930070NSV60J38I987 | Long             | DBT              | CORP              | US        |    151000 | PA      | $140813.76    | 0.26%             | 2032-10-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Graham Packaging Company Europe LLC                                         | Graham Packaging Company Europe LLC                                         | CUSIP: 384701AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    166000 | PA      | $138755.60    | 0.25%             | 2028-08-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| Gray Television, Inc.                                                       | Gray Television, Inc.                                                       | CUSIP: 389286AA3<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |    314000 | PA      | $227258.51    | 0.41%             | 2031-11-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| HCA Inc.                                                                    | HCA Inc.                                                                    | CUSIP: 404119BR9<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    109000 | PA      | $108882.48    | 0.20%             | 2025-02-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Hilcorp Energy I, L.P.                                                      | Hilcorp Energy I, L.P.                                                      | CUSIP: 431318AS3<br>LEI: 549300ITPIHLG0LHEC09 | Long             | DBT              | CORP              | US        |    269000 | PA      | $244046.96    | 0.44%             | 2028-11-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| LCPR Senior Secured Financing Designated Activity Company                   | LCPR Senior Secured Financing Designated Activity Company                   | CUSIP: 50201DAA1<br>LEI: 549300LE5FM8IKMXSP90 | Long             | DBT              | CORP              | US        |    377000 | PA      | $354178.54    | 0.65%             | 2027-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| LCPR Senior Secured Financing Designated Activity Company                   | LCPR Senior Secured Financing Designated Activity Company                   | CUSIP: 50201DAD5<br>LEI: 549300LE5FM8IKMXSP90 | Long             | DBT              | CORP              | US        |    220000 | PA      | $182974.10    | 0.33%             | 2029-07-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Matterhorn Merger Sub, LLC                                                  | Matterhorn Merger Sub, LLC                                                  | CUSIP: 577088AA5<br>LEI: 549300JY2LK0EQ95YT44 | Long             | DBT              | CORP              | US        |    247000 | PA      | $141729.98    | 0.26%             | 2026-06-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| MCE Finance Limited                                                         | MCE Finance Limited                                                         | CUSIP: 58547DAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    198000 | PA      | $159761.20    | 0.29%             | 2029-12-04      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Stagwell Inc.                                                               | Stagwell Inc.                                                               | CUSIP: 59565JAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    420000 | PA      | $346243.18    | 0.63%             | 2029-08-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Midwest Gaming Borrower, LLC                                                | Midwest Gaming Borrower, LLC                                                | CUSIP: 59833DAB6<br>LEI: 5493005826VXDUREHL94 | Long             | DBT              | CORP              | US        |    180000 | PA      | $153804.55    | 0.28%             | 2029-05-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Mileage Plus Holdings, LLC                                                  | Mileage Plus Holdings, LLC                                                  | CUSIP: 599191AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    157558 | PA      | $156982.23    | 0.29%             | 2027-06-20      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Molina Healthcare, Inc.                                                     | Molina Healthcare, Inc.                                                     | CUSIP: 60855RAL4<br>LEI: 549300NQQCEQ46YHZ591 | Long             | DBT              | CORP              | US        |    100000 | PA      | $83114.95     | 0.15%             | 2032-05-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Mozart Debt Merger Sub Inc.                                                 | Mozart Debt Merger Sub Inc.                                                 | CUSIP: 62482BAA0<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |    150000 | PA      | $120893.79    | 0.22%             | 2029-04-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Mozart Debt Merger Sub Inc.                                                 | Mozart Debt Merger Sub Inc.                                                 | CUSIP: 62482BAB8<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |    308000 | PA      | $244792.10    | 0.45%             | 2029-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: —       |
| Nabors Industries, Inc.                                                     | Nabors Industries, Inc.                                                     | CUSIP: 62957HAJ4<br>LEI: 549300VFQWRKICUFNU92 | Long             | DBT              | CORP              | US        |    147000 | PA      | $144036.26    | 0.26%             | 2027-05-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Occidental Petroleum Corporation                                            | Occidental Petroleum Corporation                                            | CUSIP: 674599DL6<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |     78000 | PA      | $80273.74     | 0.15%             | 2046-03-15      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| Owens & Minor, Inc.                                                         | Owens & Minor, Inc.                                                         | CUSIP: 690732AG7<br>LEI: 549300LMT5KQQXCEZ733 | Long             | DBT              | CORP              | US        |    327000 | PA      | $281183.00    | 0.51%             | 2030-04-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Prime Security Services Borrower, LLC                                       | Prime Security Services Borrower, LLC                                       | CUSIP: 74166MAE6<br>LEI: 549300O6QPZVWXV2DC15 | Long             | DBT              | CORP              | US        |    198000 | PA      | $180795.29    | 0.33%             | 2028-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Radiate HoldCo, LLC                                                         | Radiate HoldCo, LLC                                                         | CUSIP: 75026JAE0<br>LEI: 5493000GQJ5RDX9DNJ71 | Long             | DBT              | CORP              | US        |    367000 | PA      | $153814.79    | 0.28%             | 2028-09-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Rolls-Royce PLC                                                             | Rolls-Royce PLC                                                             | CUSIP: 77578JAC2<br>LEI: X57JK1U580XATGR67572 | Long             | DBT              | CORP              | US        |    295000 | PA      | $280319.25    | 0.51%             | 2027-10-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Royalty Pharma PLC                                                          | Royalty Pharma PLC                                                          | CUSIP: 78081BAK9<br>LEI: 549300FGFN7VOK8BZR03 | Long             | DBT              | CORP              | US        |    175000 | PA      | $136925.46    | 0.25%             | 2030-09-02      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| Navient Corporation                                                         | Navient Corporation                                                         | CUSIP: 78442FAZ1<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |    107000 | PA      | $76940.58     | 0.14%             | 2033-08-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Sirius XM Radio Inc.                                                        | Sirius XM Radio Inc.                                                        | CUSIP: 82967NBG2<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |    189000 | PA      | $156140.48    | 0.28%             | 2030-07-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Southwestern Energy Company                                                 | Southwestern Energy Company                                                 | CUSIP: 845467AN9<br>LEI: EFWMP121W54QV9MGOP87 | Long             | DBT              | CORP              | US        |     90000 | PA      | $92925.04     | 0.17%             | 2027-10-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: —       |
| Southwestern Energy Company                                                 | Southwestern Energy Company                                                 | CUSIP: 845467AP4<br>LEI: EFWMP121W54QV9MGOP87 | Long             | DBT              | CORP              | US        |     96000 | PA      | $99424.56     | 0.18%             | 2028-09-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Sprint Capital Corporation                                                  | Sprint Capital Corporation                                                  | CUSIP: 852060AD4<br>LEI: 549300L17W0GQBR1PO80 | Long             | DBT              | CORP              | US        |     94000 | PA      | $97754.79     | 0.18%             | 2028-11-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Sprint Corporation                                                          | Sprint Corporation                                                          | CUSIP: 85207UAF2<br>LEI: 549300ZTTY7CXOLJ6539 | Long             | DBT              | CORP              | US        |     25000 | PA      | $25373.29     | 0.05%             | 2023-09-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Yara International ASA                                                      | Yara International ASA                                                      | CUSIP: 984851AH8<br>LEI: 213800WKOUWXWFJ5Z514 | Long             | DBT              | CORP              | US        |     48000 | PA      | $50125.45     | 0.09%             | 2032-11-14      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Verifone Systems, Inc.                                                      | Verifone Systems, Inc.                                                      | CUSIP: 92346NAB5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     61835 | PA      | $56588.97     | 0.10%             | 2025-08-09      | Floating      | 8.36%                 | No            |                  2 | On Loan: No      |
| CoreLogic, Inc.                                                             | CoreLogic, Inc.                                                             | CUSIP: 21870FBA6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     89862 | PA      | $74698.20     | 0.14%             | 2028-04-14      | Floating      | 7.63%                 | No            |                  2 | On Loan: No      |
| Groupe Solmax Inc.                                                          | Groupe Solmax Inc.                                                          | CUSIP: C4127PAB7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     21542 | PA      | $17772.42     | 0.03%             | 2024-12-30      | Floating      | 8.39%                 | No            |                  2 | On Loan: No      |
| PMHC II, Inc.                                                               | PMHC II, Inc.                                                               | CUSIP: 69346EAG2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    149625 | PA      | $126074.03    | 0.23%             | 2029-02-03      | Floating      | 8.49%                 | No            |                  2 | On Loan: No      |
| Allen Media, LLC                                                            | Allen Media, LLC                                                            | CUSIP: 01771JAG8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    172150 | PA      | $140411.03    | 0.26%             | 2027-02-10      | Floating      | 9.20%                 | No            |                  2 | On Loan: No      |
| Cornerstone OnDemand, Inc.                                                  | Cornerstone OnDemand, Inc.                                                  | CUSIP: 86803YAB9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     69352 | PA      | $61723.22     | 0.11%             | 2026-09-08      | Floating      | 7.82%                 | No            |                  2 | On Loan: No      |
| Great Outdoors Group, LLC                                                   | Great Outdoors Group, LLC                                                   | CUSIP: 07014QAN1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    287237 | PA      | $275388.81    | 0.50%             | 2028-02-26      | Floating      | 7.82%                 | No            |                  2 | On Loan: No      |
| Intelsat Jackson Holdings S.A.                                              | Intelsat Jackson Holdings S.A.                                              | CUSIP: L5137LAQ8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    135882 | PA      | $130931.46    | 0.24%             | 2029-01-25      | Floating      | 7.44%                 | No            |                  2 | On Loan: No      |
| 888 Acquisitions Limited                                                    | 888 Acquisitions Limited                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    150000 | PA      | $132874.50    | 0.24%             | 2028-07-18      | Floating      | 8.28%                 | No            |                  2 | On Loan: No      |
| Stars Group Holdings B.V. (The)                                             | Stars Group Holdings B.V. (The)                                             | CUSIP: N8233BAE2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    149625 | PA      | $148773.63    | 0.27%             | 2028-07-04      | Floating      | 7.04%                 | No            |                  2 | On Loan: No      |
| EG Global Finance PLC                                                       | EG Global Finance PLC                                                       | CUSIP: 28228PAB7<br>LEI: 549300TL8Q5207VYET27 | Long             | DBT              | CORP              | US        |    230000 | PA      | $215424.15    | 0.39%             | 2025-10-30      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Eldorado Resorts, Inc.                                                      | Eldorado Resorts, Inc.                                                      | CUSIP: 28470RAK8<br>LEI: 549300V3UCT773B1KR38 | Long             | DBT              | CORP              | US        |    186000 | PA      | $182922.82    | 0.33%             | 2027-07-01      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                                                          | Energy Transfer LP                                                          | CUSIP: 29273VAL4<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    106000 | PA      | $91690.00     | 0.17%             | 2500-12-31      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                                                          | Energy Transfer LP                                                          | CUSIP: 29273VAM2<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |     62000 | PA      | $51793.99     | 0.09%             | 2500-12-31      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                                                          | Energy Transfer LP                                                          | CUSIP: 29273VAN0<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |     30000 | PA      | $26057.20     | 0.05%             | 2500-12-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                                                          | Energy Transfer LP                                                          | CUSIP: 29273VAP5<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |     97000 | PA      | $96105.62     | 0.18%             | 2028-02-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| First Quantum Minerals Ltd                                                  | First Quantum Minerals Ltd                                                  | CUSIP: 335934AT2<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | US        |    298000 | PA      | $278174.65    | 0.51%             | 2027-10-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Ford Motor Company                                                          | Ford Motor Company                                                          | CUSIP: 345370CR9<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |     72000 | PA      | $68150.16     | 0.12%             | 2026-12-08      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Company LLC                                               | Ford Motor Credit Company LLC                                               | CUSIP: 345397A45<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    194000 | PA      | $175557.88    | 0.32%             | 2027-01-09      | Fixed         | 4.27%                 | No            |                  2 | On Loan: No      |
| Hawaiian Brand Intellectual Property, Ltd.                                  | Hawaiian Brand Intellectual Property, Ltd.                                  | CUSIP: 41984LAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    381000 | PA      | $344726.67    | 0.63%             | 2026-01-20      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Hilcorp Energy I, L.P.                                                      | Hilcorp Energy I, L.P.                                                      | CUSIP: 431318AY0<br>LEI: 549300ITPIHLG0LHEC09 | Long             | DBT              | CORP              | US        |     76000 | PA      | $68013.09     | 0.12%             | 2030-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| UBS Group AG                                                                | UBS Group AG                                                                | CUSIP: 902613AJ7<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | US        |    210000 | PA      | $177843.74    | 0.32%             | 2500-12-31      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Uber Technologies, Inc.                                                     | Uber Technologies, Inc.                                                     | CUSIP: 90353TAE0<br>LEI: 549300B2FTG34FILDR98 | Long             | DBT              | CORP              | US        |    179000 | PA      | $179125.67    | 0.33%             | 2027-09-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Uber Technologies, Inc.                                                     | Uber Technologies, Inc.                                                     | CUSIP: 90353TAF7<br>LEI: 549300B2FTG34FILDR98 | Long             | DBT              | CORP              | US        |     53000 | PA      | $53075.62     | 0.10%             | 2025-05-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Uber Technologies, Inc.                                                     | Uber Technologies, Inc.                                                     | CUSIP: 90353TAK6<br>LEI: 549300B2FTG34FILDR98 | Long             | DBT              | CORP              | US        |     90000 | PA      | $78463.85     | 0.14%             | 2029-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Dana Incorporated                                                           | Dana Incorporated                                                           | CUSIP: 235825AH9<br>LEI: KVWHW7YLZPFJM8QYNJ51 | Long             | DBT              | CORP              | US        |     13000 | PA      | $10475.75     | 0.02%             | 2030-09-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Dana Incorporated                                                           | Dana Incorporated                                                           | CUSIP: 235825AJ5<br>LEI: KVWHW7YLZPFJM8QYNJ51 | Long             | DBT              | CORP              | US        |    140000 | PA      | $113028.93    | 0.21%             | 2032-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Delta Air Lines, Inc.                                                       | Delta Air Lines, Inc.                                                       | CUSIP: 247361ZX9<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | DBT              | CORP              | US        |    111000 | PA      | $113424.88    | 0.21%             | 2025-05-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| International Game Technology PLC                                           | International Game Technology PLC                                           | CUSIP: 460599AF0<br>LEI: 549300UQ6KHRCZDRGZ76 | Long             | DBT              | CORP              | US        |     52000 | PA      | $48658.12     | 0.09%             | 2026-04-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| KB Home                                                                     | KB Home                                                                     | CUSIP: 48666KBA6<br>LEI: 549300LGUCWQURMWLG09 | Long             | DBT              | CORP              | US        |     56000 | PA      | $54383.94     | 0.10%             | 2030-07-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Kinetik Holdings LP                                                         | Kinetik Holdings LP                                                         | CUSIP: 49461MAA8<br>LEI: 549300RD6AJIMYC0HY12 | Long             | DBT              | CORP              | US        |    182000 | PA      | $170560.43    | 0.31%             | 2030-06-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Markel Corporation                                                          | Markel Corporation                                                          | CUSIP: 570535AW4<br>LEI: 549300SCNO12JLWIK605 | Long             | DBT              | CORP              | US        |    157000 | PA      | $151896.15    | 0.28%             | 2500-12-31      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ViaSat, Inc.                                                                | ViaSat, Inc.                                                                | CUSIP: 92552VAK6<br>LEI: UFC8NYMNFSYIHNSM2I38 | Long             | DBT              | CORP              | US        |    167000 | PA      | $155871.87    | 0.28%             | 2025-09-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| ViaSat, Inc.                                                                | ViaSat, Inc.                                                                | CUSIP: 92552VAN0<br>LEI: UFC8NYMNFSYIHNSM2I38 | Long             | DBT              | CORP              | US        |     78000 | PA      | $59750.02     | 0.11%             | 2028-07-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| VICI Properties Inc.                                                        | VICI Properties Inc.                                                        | CUSIP: 92564RAA3<br>LEI: 254900RKH6RY9KCJQH63 | Long             | DBT              | CORP              | US        |     90000 | PA      | $83989.36     | 0.15%             | 2026-12-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Viper Energy Partners LP                                                    | Viper Energy Partners LP                                                    | CUSIP: 92763MAA3<br>LEI: 5299009LINL232255G03 | Long             | DBT              | CORP              | US        |     44000 | PA      | $41852.26     | 0.08%             | 2027-11-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Vistra Operations Company LLC                                               | Vistra Operations Company LLC                                               | CUSIP: 92840VAF9<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    229000 | PA      | $213109.33    | 0.39%             | 2027-07-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Muzinich U.S. High Yield Corporate Bond Fund                                | Muzinich U.S. High Yield Corporate Bond Fund                                | CUSIP: 92535WAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    147000 | PA      | $143995.44    | 0.26%             | 2026-08-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| Virgin Media Secured Finance PLC                                            | Virgin Media Secured Finance PLC                                            | CUSIP: 92769XAR6<br>LEI: 213800X3RLP4NOTPY579 | Long             | DBT              | CORP              | US        |    287000 | PA      | $239844.42    | 0.44%             | 2030-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| VistaJet Malta Finance P.L.C.                                               | VistaJet Malta Finance P.L.C.                                               | CUSIP: 92840JAB5<br>LEI: 5299001UK94VGT0CPQ36 | Long             | DBT              | CORP              | US        |    232000 | PA      | $186364.99    | 0.34%             | 2030-02-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| VistaJet Malta Finance P.L.C.                                               | VistaJet Malta Finance P.L.C.                                               | CUSIP: 92840JAD1<br>LEI: 5299001UK94VGT0CPQ36 | Long             | DBT              | CORP              | US        |     86000 | PA      | $77828.46     | 0.14%             | 2027-05-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: —       |
| Vistra Operations Company LLC                                               | Vistra Operations Company LLC                                               | CUSIP: 92840VAE2<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |     34000 | PA      | $30617.28     | 0.06%             | 2029-07-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Vistra Operations Company LLC                                               | Vistra Operations Company LLC                                               | CUSIP: 92840VAH5<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    105000 | PA      | $90595.23     | 0.17%             | 2029-05-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| VMED O2 UK Financing I PLC                                                  | VMED O2 UK Financing I PLC                                                  | CUSIP: 92858RAA8<br>LEI: 213800MRR46ECNGZ7L69 | Long             | DBT              | CORP              | US        |     73000 | PA      | $59133.80     | 0.11%             | 2031-01-31      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| VMED O2 UK Financing I PLC                                                  | VMED O2 UK Financing I PLC                                                  | CUSIP: 92858RAB6<br>LEI: 213800MRR46ECNGZ7L69 | Long             | DBT              | CORP              | US        |    233000 | PA      | $189735.53    | 0.35%             | 2031-07-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Energean Israel Finance Ltd                                                 | Energean Israel Finance Ltd                                                 | CUSIP: N/A<br>LEI: 98450044QACBL3F8EB03       | Long             | DBT              | CORP              | US        |    397000 | PA      | $367721.25    | 0.67%             | 2026-03-30      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Barclays PLC                                                                | Barclays PLC                                                                | CUSIP: 06738EBX2<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | US        |    200000 | PA      | $188139.00    | 0.34%             | 2500-12-31      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Bausch Health Companies Inc.                                                | Bausch Health Companies Inc.                                                | CUSIP: 071734AP2<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | US        |    117000 | PA      | $80488.31     | 0.15%             | 2027-02-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| Blue Racer Midstream, LLC                                                   | Blue Racer Midstream, LLC                                                   | CUSIP: 095796AH1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    106000 | PA      | $105439.77    | 0.19%             | 2025-12-15      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| Bombardier Inc.                                                             | Bombardier Inc.                                                             | CUSIP: 097751BM2<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | US        |     53000 | PA      | $52631.28     | 0.10%             | 2025-03-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Bombardier Inc.                                                             | Bombardier Inc.                                                             | CUSIP: 097751BV2<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | US        |    232000 | PA      | $227393.43    | 0.41%             | 2026-06-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| CCO Holdings, LLC                                                           | CCO Holdings, LLC                                                           | CUSIP: 1248EPCD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     65000 | PA      | $56139.72     | 0.10%             | 2030-03-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CCO Holdings, LLC                                                           | CCO Holdings, LLC                                                           | CUSIP: 1248EPCQ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    209000 | PA      | $169438.20    | 0.31%             | 2032-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CDI Escrow Issuer Inc                                                       | CDI Escrow Issuer Inc                                                       | CUSIP: 12511VAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    228000 | PA      | $205557.55    | 0.37%             | 2030-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CSC Holdings, LLC                                                           | CSC Holdings, LLC                                                           | CUSIP: 126307AH0<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |     85000 | PA      | $79228.57     | 0.14%             | 2024-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: —       |
| CSC Holdings, LLC                                                           | CSC Holdings, LLC                                                           | CUSIP: 126307AY3<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    210000 | PA      | $142314.87    | 0.26%             | 2028-04-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Centene Corporation                                                         | Centene Corporation                                                         | CUSIP: 15135BAX9<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |     48000 | PA      | $37599.34     | 0.07%             | 2031-03-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Citgo Petroleum Corporation                                                 | Citgo Petroleum Corporation                                                 | CUSIP: 17302XAK2<br>LEI: YX52P86PXMLYDOTUQ225 | Long             | DBT              | CORP              | US        |    146000 | PA      | $142715.74    | 0.26%             | 2025-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Clear Channel International B.V.                                            | Clear Channel International B.V.                                            | CUSIP: 18452MAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     85000 | PA      | $81119.17     | 0.15%             | 2025-08-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Clear Channel Outdoor Holdings, Inc.                                        | Clear Channel Outdoor Holdings, Inc.                                        | CUSIP: 18453HAC0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    129000 | PA      | $94677.56     | 0.17%             | 2028-04-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: —       |
| Deutsche Bank Aktiengesellschaft                                            | Deutsche Bank Aktiengesellschaft                                            | CUSIP: 251526BN8<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | US        |    565000 | PA      | $471765.45    | 0.86%             | 2032-12-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Diamond Sports Group, LLC                                                   | Diamond Sports Group, LLC                                                   | CUSIP: 25277LAF3<br>LEI: 5493002K6DHWNZH8YA34 | Long             | DBT              | CORP              | US        |     93000 | PA      | $11072.48     | 0.02%             | 2026-08-15      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Icahn Enterprises L.P.                                                      | Icahn Enterprises L.P.                                                      | CUSIP: 451102BT3<br>LEI: 549300T0G4GS0SINS786 | Long             | DBT              | CORP              | US        |    319000 | PA      | $308625.53    | 0.56%             | 2026-05-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Icahn Enterprises L.P.                                                      | Icahn Enterprises L.P.                                                      | CUSIP: 451102BZ9<br>LEI: 549300T0G4GS0SINS786 | Long             | DBT              | CORP              | US        |    316000 | PA      | $289771.08    | 0.53%             | 2027-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| iHeartCommunications, Inc.                                                  | iHeartCommunications, Inc.                                                  | CUSIP: 45174HBC0<br>LEI: 54930076J6KDZL504O62 | Long             | DBT              | CORP              | US        |     38565 | PA      | $35473.86     | 0.06%             | 2026-05-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| MPH Acquisition Holdings LLC                                                | MPH Acquisition Holdings LLC                                                | CUSIP: 553283AD4<br>LEI: 5493002WXOPRPTXWTU06 | Long             | DBT              | CORP              | US        |    189000 | PA      | $147500.88    | 0.27%             | 2028-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| iHeartCommunications, Inc.                                                  | iHeartCommunications, Inc.                                                  | CUSIP: 45174HBD8<br>LEI: 54930076J6KDZL504O62 | Long             | DBT              | CORP              | US        |    150651 | PA      | $128309.99    | 0.23%             | 2027-05-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: —       |
| iHeartCommunications, Inc.                                                  | iHeartCommunications, Inc.                                                  | CUSIP: 45174HBE6<br>LEI: 54930076J6KDZL504O62 | Long             | DBT              | CORP              | US        |    120000 | PA      | $101577.00    | 0.19%             | 2027-08-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NCR Corporation                                                             | NCR Corporation                                                             | CUSIP: 62886EAU2<br>LEI: 549300YKTY8JX1DV2R67 | Long             | DBT              | CORP              | US        |    140000 | PA      | $134188.99    | 0.24%             | 2027-09-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Nabors Industries Ltd                                                       | Nabors Industries Ltd                                                       | CUSIP: 629571AB6<br>LEI: 549300VFQWRKICUFNU92 | Long             | DBT              | CORP              | US        |    117000 | PA      | $106630.60    | 0.19%             | 2028-01-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Ineos Quattro Finance 2 PLC                                                 | Ineos Quattro Finance 2 PLC                                                 | CUSIP: 45674GAA2<br>LEI: 213800V48W4Y5MT5Q131 | Long             | DBT              | CORP              | US        |     95000 | PA      | $85928.38     | 0.16%             | 2026-01-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Legacy Lifepoint Health, LLC                                                | Legacy Lifepoint Health, LLC                                                | CUSIP: 53219LAT6<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | DBT              | CORP              | US        |    216000 | PA      | $203208.63    | 0.37%             | 2025-04-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| NuStar Logistics, L.P.                                                      | NuStar Logistics, L.P.                                                      | CUSIP: 67059TAF2<br>LEI: N62BF2PKP51FIIOIUN20 | Long             | DBT              | CORP              | US        |     85000 | PA      | $82095.55     | 0.15%             | 2026-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NuStar Logistics, L.P.                                                      | NuStar Logistics, L.P.                                                      | CUSIP: 67059TAH8<br>LEI: N62BF2PKP51FIIOIUN20 | Long             | DBT              | CORP              | US        |    189000 | PA      | $175333.28    | 0.32%             | 2030-10-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Transdigm UK Holdings PLC                                                   | Transdigm UK Holdings PLC                                                   | CUSIP: 89365DAB9<br>LEI: 549300JTYP71LZZSE903 | Long             | DBT              | CORP              | US        |     51000 | PA      | $49980.29     | 0.09%             | 2026-05-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Occidental Petroleum Corporation                                            | Occidental Petroleum Corporation                                            | CUSIP: 674599CG8<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |     35000 | PA      | $33511.05     | 0.06%             | 2025-06-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Occidental Petroleum Corporation                                            | Occidental Petroleum Corporation                                            | CUSIP: 674599DB8<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |     94000 | PA      | $95526.49     | 0.17%             | 2024-07-01      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| Occidental Petroleum Corporation                                            | Occidental Petroleum Corporation                                            | CUSIP: 674599DF9<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    106000 | PA      | $108140.80    | 0.20%             | 2036-09-15      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| Occidental Petroleum Corporation                                            | Occidental Petroleum Corporation                                            | CUSIP: 674599DH5<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |     55000 | PA      | $60015.21     | 0.11%             | 2039-06-15      | Fixed         | 7.95%                 | No            |                  2 | On Loan: No      |
| Occidental Petroleum Corporation                                            | Occidental Petroleum Corporation                                            | CUSIP: 674599EA9<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |     80000 | PA      | $90338.94     | 0.16%             | 2030-07-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| Southwestern Energy Company                                                 | Southwestern Energy Company                                                 | CUSIP: 845467AR0<br>LEI: EFWMP121W54QV9MGOP87 | Long             | DBT              | CORP              | US        |     60000 | PA      | $55573.55     | 0.10%             | 2029-02-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Nordic Aviation Capital Designated Activity Company                         | Nordic Aviation Capital Designated Activity Company                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      1868 | NS      | $33624.00     | 0.06%             |  |  |  | No            |                  3 | On Loan: No      |
| AMC Entertainment Holdings, Inc.                                            | AMC Entertainment Holdings, Inc.                                            | CUSIP: 00165CAP9<br>LEI: 549300ZO77UNR6NRBR11 | Long             | DBT              | CORP              | US        |     68000 | PA      | $28218.98     | 0.05%             | 2026-06-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Altice Financing S.A.                                                       | Altice Financing S.A.                                                       | CUSIP: 02154CAH6<br>LEI: 549300DIYGW8HVDF7Q17 | Long             | DBT              | CORP              | US        |    165000 | PA      | $129988.11    | 0.24%             | 2029-08-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Berry Global, Inc.                                                          | Berry Global, Inc.                                                          | CUSIP: 08576PAA9<br>LEI: 549300AP2Q7ERHX6RI89 | Long             | DBT              | CORP              | US        |    114000 | PA      | $109785.22    | 0.20%             | 2026-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: —       |
| Blue Racer Midstream, LLC                                                   | Blue Racer Midstream, LLC                                                   | CUSIP: 095796AE8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     57000 | PA      | $55112.48     | 0.10%             | 2026-07-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Buckeye Partners, L.P.                                                      | Buckeye Partners, L.P.                                                      | CUSIP: 118230AM3<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |    120000 | PA      | $89393.50     | 0.16%             | 2043-11-15      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| CSC Holdings, LLC                                                           | CSC Holdings, LLC                                                           | CUSIP: 126307BH9<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    137000 | PA      | $95215.00     | 0.17%             | 2031-11-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Bip-V Chinook                                                               | Bip-V Chinook                                                               | CUSIP: 12657NAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    301000 | PA      | $263741.03    | 0.48%             | 2031-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Callon Petroleum Company                                                    | Callon Petroleum Company                                                    | CUSIP: 13123XBF8<br>LEI: 549300EFOWPEB0WLZW21 | Long             | DBT              | CORP              | US        |     28000 | PA      | $25704.62     | 0.05%             | 2030-06-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Calpine Corporation                                                         | Calpine Corporation                                                         | CUSIP: 131347CM6<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |    217000 | PA      | $193941.75    | 0.35%             | 2028-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Calpine Corporation                                                         | Calpine Corporation                                                         | CUSIP: 131347CN4<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |    212000 | PA      | $189767.05    | 0.35%             | 2028-03-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Calpine Corporation                                                         | Calpine Corporation                                                         | CUSIP: 131347CR5<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |     72000 | PA      | $58218.20     | 0.11%             | 2031-03-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Carnival Corporation                                                        | Carnival Corporation                                                        | CUSIP: 143658BJ0<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | US        |    387000 | PA      | $366587.01    | 0.67%             | 2027-08-01      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| Carnival Corporation                                                        | Carnival Corporation                                                        | CUSIP: 143658BL5<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | US        |    248000 | PA      | $198072.59    | 0.36%             | 2026-03-01      | Fixed         | 7.63%                 | No            |                  2 | On Loan: —       |
| Carpenter Technology Corporation                                            | Carpenter Technology Corporation                                            | CUSIP: 144285AL7<br>LEI: DX6I6ZD3X5WNNCDJKP85 | Long             | DBT              | CORP              | US        |     63000 | PA      | $59962.82     | 0.11%             | 2028-07-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Clear Channel Outdoor Holdings, Inc.                                        | Clear Channel Outdoor Holdings, Inc.                                        | CUSIP: 18453HAD8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    264000 | PA      | $192025.80    | 0.35%             | 2029-06-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: —       |
| Clydesdale Acquisition Holdings Inc                                         | Clydesdale Acquisition Holdings Inc                                         | CUSIP: 18972EAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     98000 | PA      | $93933.43     | 0.17%             | 2029-04-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Clydesdale Acquisition Holdings Inc                                         | Clydesdale Acquisition Holdings Inc                                         | CUSIP: 18972EAB1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    236000 | PA      | $207042.29    | 0.38%             | 2030-04-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Colgate Energy Partners III, LLC                                            | Colgate Energy Partners III, LLC                                            | CUSIP: 19416MAB5<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |    199000 | PA      | $171341.19    | 0.31%             | 2029-07-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Cushman & Wakefield U.S. Borrower, LLC                                      | Cushman & Wakefield U.S. Borrower, LLC                                      | CUSIP: 23166MAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    116000 | PA      | $110970.27    | 0.20%             | 2028-05-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| DIRECTV Financing, LLC                                                      | DIRECTV Financing, LLC                                                      | CUSIP: 25461LAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    454000 | PA      | $407134.01    | 0.74%             | 2027-08-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Carnival Corporation                                                        | Carnival Corporation                                                        | CUSIP: 143658BN1<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | US        |    316000 | PA      | $225462.95    | 0.41%             | 2027-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| DISH DBS Corporation                                                        | DISH DBS Corporation                                                        | CUSIP: 25470XAY1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    204000 | PA      | $164629.25    | 0.30%             | 2026-07-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| EQM Midstream Partners, LP                                                  | EQM Midstream Partners, LP                                                  | CUSIP: 26885BAB6<br>LEI: 549300NELT611CL6XM83 | Long             | DBT              | CORP              | US        |    163000 | PA      | $144810.19    | 0.26%             | 2026-12-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| DPL Inc.                                                                    | DPL Inc.                                                                    | CUSIP: 233293AR0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    114000 | PA      | $107557.48    | 0.20%             | 2025-07-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| EQM Midstream Partners, LP                                                  | EQM Midstream Partners, LP                                                  | CUSIP: 26885BAH3<br>LEI: 549300NELT611CL6XM83 | Long             | DBT              | CORP              | US        |    104000 | PA      | $99428.89     | 0.18%             | 2027-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| iHeartMedia, Inc.                                                           | iHeartMedia, Inc.                                                           | CUSIP: 45174J509<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3283 | NS      | $20124.79     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| iHeartCommunications, Inc.                                                  | iHeartCommunications, Inc.                                                  | CUSIP: 45174HBG1<br>LEI: 54930076J6KDZL504O62 | Long             | DBT              | CORP              | US        |     50000 | PA      | $40666.42     | 0.07%             | 2028-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: —       |
| Imola Merger Corporation                                                    | Imola Merger Corporation                                                    | CUSIP: 45258LAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    141000 | PA      | $122168.11    | 0.22%             | 2029-05-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Lumen Technologies Inc.                                                     | Lumen Technologies Inc.                                                     | CUSIP: 156700BB1<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |    152000 | PA      | $132040.67    | 0.24%             | 2026-12-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: —       |
| Chart Industries, Inc.                                                      | Chart Industries, Inc.                                                      | CUSIP: 16115QAF7<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | DBT              | CORP              | US        |     69000 | PA      | $69286.36     | 0.13%             | 2030-01-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Chart Industries, Inc.                                                      | Chart Industries, Inc.                                                      | CUSIP: 16115QAG5<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | DBT              | CORP              | US        |     58000 | PA      | $59483.93     | 0.11%             | 2031-01-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| NMG Holding Company, Inc.                                                   | NMG Holding Company, Inc.                                                   | CUSIP: 62929RAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    290000 | PA      | $272758.08    | 0.50%             | 2026-04-01      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| Neptune BidCo US Inc.                                                       | Neptune BidCo US Inc.                                                       | CUSIP: 640695AA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    194000 | PA      | $182795.16    | 0.33%             | 2029-04-15      | Fixed         | 9.29%                 | No            |                  2 | On Loan: No      |
| Nordstrom, Inc.                                                             | Nordstrom, Inc.                                                             | CUSIP: 655664AS9<br>LEI: 549300S3IZB5P35KNV16 | Long             | DBT              | CORP              | US        |     84000 | PA      | $69841.17     | 0.13%             | 2027-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: —       |
| Advisor Group, Inc.                                                         | Advisor Group, Inc.                                                         | CUSIP: 00775KAE8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     82864 | PA      | $80905.39     | 0.15%             | 2026-07-31      | Floating      | 8.57%                 | No            |                  2 | On Loan: No      |
| Peraton Corp.                                                               | Peraton Corp.                                                               | CUSIP: 71360HAB3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    140833 | PA      | $137283.01    | 0.25%             | 2028-02-22      | Floating      | 7.82%                 | No            |                  2 | On Loan: No      |
| Bausch Health Companies Inc.                                                | Bausch Health Companies Inc.                                                | CUSIP: 071734AN7<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | US        |     41000 | PA      | $26230.55     | 0.05%             | 2028-06-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Boxer Parent Company Inc.                                                   | Boxer Parent Company Inc.                                                   | CUSIP: 103186AB8<br>LEI: 5493006T045HLTF7YX04 | Long             | DBT              | CORP              | US        |     46000 | PA      | $45114.32     | 0.08%             | 2025-10-02      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| Boyd Gaming Corporation                                                     | Boyd Gaming Corporation                                                     | CUSIP: 103304BV2<br>LEI: 254900787YGRYS2A1Z35 | Long             | DBT              | CORP              | US        |    241000 | PA      | $209758.88    | 0.38%             | 2031-06-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Braskem Idesa, S.A.P.I.                                                     | Braskem Idesa, S.A.P.I.                                                     | CUSIP: 10554NAB4<br>LEI: YH0V7ZHY352ITDGEYB83 | Long             | DBT              | CORP              | US        |     87000 | PA      | $62182.82     | 0.11%             | 2032-02-20      | Fixed         | 6.99%                 | No            |                  2 | On Loan: No      |
| Buckeye Partners, L.P.                                                      | Buckeye Partners, L.P.                                                      | CUSIP: 118230AP6<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |     19000 | PA      | $13779.81     | 0.03%             | 2044-10-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Lumen Technologies Inc.                                                     | Lumen Technologies Inc.                                                     | CUSIP: 156700AM8<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |     24000 | PA      | $16355.11     | 0.03%             | 2039-09-15      | Fixed         | 7.60%                 | No            |                  2 | On Loan: No      |
| Groupe Solmax Inc.                                                          | Groupe Solmax Inc.                                                          | CUSIP: C4127PAB7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     39539 | PA      | $32619.52     | 0.06%             | 2024-12-30      | Floating      | 8.39%                 | No            |                  2 | On Loan: No      |
| Churchill Downs Incorporated                                                | Churchill Downs Incorporated                                                | CUSIP: 171484AE8<br>LEI: 529900FODTBQC8MIS994 | Long             | DBT              | CORP              | US        |     45000 | PA      | $40268.98     | 0.07%             | 2028-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc.                                                              | Citigroup Inc.                                                              | CUSIP: 172967MG3<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    166000 | PA      | $148073.71    | 0.27%             | 2500-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PDV America, Inc.                                                           | PDV America, Inc.                                                           | CUSIP: 17302WAB4<br>LEI: 549300NYHOALWZ2BSL72 | Long             | DBT              | CORP              | US        |    175000 | PA      | $175520.19    | 0.32%             | 2024-08-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| Legacy Lifepoint Health, LLC                                                | Legacy Lifepoint Health, LLC                                                | CUSIP: 53219LAS8<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | DBT              | CORP              | US        |     39000 | PA      | $33010.35     | 0.06%             | 2027-02-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Marb Bondco PLC                                                             | Marb Bondco PLC                                                             | CUSIP: 566007AC4<br>LEI: 254900PVA1EU6QM1JN57 | Long             | DBT              | CORP              | US        |    327000 | PA      | $252505.89    | 0.46%             | 2031-01-29      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Masonite International Corporation                                          | Masonite International Corporation                                          | CUSIP: 575385AD1<br>LEI: 549300H0H07ZFT4JYM32 | Long             | DBT              | CORP              | US        |     71000 | PA      | $65762.91     | 0.12%             | 2028-02-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| NFP Corp.                                                                   | NFP Corp.                                                                   | CUSIP: 65342RAD2<br>LEI: VO2L9FZNXDJNQNEYH039 | Long             | DBT              | CORP              | US        |    156000 | PA      | $129166.48    | 0.24%             | 2028-08-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Terrier Media Buyer, Inc.                                                   | Terrier Media Buyer, Inc.                                                   | CUSIP: 88146LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $112859.70    | 0.21%             | 2027-12-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| The Toronto-Dominion Bank                                                   | The Toronto-Dominion Bank                                                   | CUSIP: 89117F8Z5<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | US        |    200000 | PA      | $206518.20    | 0.38%             | 2082-10-31      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| Transocean Poseidon Limited                                                 | Transocean Poseidon Limited                                                 | CUSIP: 89383JAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    166250 | PA      | $161989.14    | 0.30%             | 2027-02-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Booz Allen Hamilton Inc.                                                    | Booz Allen Hamilton Inc.                                                    | CUSIP: 09951LAB9<br>LEI: 549300D7XCH2480XU542 | Long             | DBT              | CORP              | US        |     67000 | PA      | $59378.58     | 0.11%             | 2029-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Builders FirstSource, Inc.                                                  | Builders FirstSource, Inc.                                                  | CUSIP: 12008RAP2<br>LEI: 549300W0SKP6L3H7DP63 | Long             | DBT              | CORP              | US        |    638000 | PA      | $519412.47    | 0.95%             | 2032-02-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CCO Holdings, LLC                                                           | CCO Holdings, LLC                                                           | CUSIP: 1248EPBT9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    108000 | PA      | $100776.58    | 0.18%             | 2027-05-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| CCO Holdings, LLC                                                           | CCO Holdings, LLC                                                           | CUSIP: 1248EPCB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    542000 | PA      | $489927.48    | 0.89%             | 2029-06-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| CCO Holdings, LLC                                                           | CCO Holdings, LLC                                                           | CUSIP: 1248EPCK7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    168000 | PA      | $134883.03    | 0.25%             | 2031-02-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CCO Holdings, LLC                                                           | CCO Holdings, LLC                                                           | CUSIP: 1248EPCN1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    111000 | PA      | $88356.16     | 0.16%             | 2032-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CCO Holdings, LLC                                                           | CCO Holdings, LLC                                                           | CUSIP: 1248EPCP6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $147895.41    | 0.27%             | 2034-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Legacy Lifepoint Health, LLC                                                | Legacy Lifepoint Health, LLC                                                | CUSIP: 53219LAU3<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | DBT              | CORP              | US        |    135000 | PA      | $76427.03     | 0.14%             | 2029-01-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Townsquare Media, Inc.                                                      | Townsquare Media, Inc.                                                      | CUSIP: 892231AB7<br>LEI: 549300XBA8C68H0DR538 | Long             | DBT              | CORP              | US        |     54000 | PA      | $47585.78     | 0.09%             | 2026-02-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| TransAlta Corporation                                                       | TransAlta Corporation                                                       | CUSIP: 89346DAH0<br>LEI: GJZNVO2UY6DNFNIYH321 | Long             | DBT              | CORP              | US        |     39000 | PA      | $39942.01     | 0.07%             | 2029-11-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| TransDigm Inc.                                                              | TransDigm Inc.                                                              | CUSIP: 893647BE6<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    462000 | PA      | $456605.02    | 0.83%             | 2026-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| TransDigm Inc.                                                              | TransDigm Inc.                                                              | CUSIP: 893647BK2<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |     34000 | PA      | $34442.05     | 0.06%             | 2025-12-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Logan Merger Sub, Inc.                                                      | Logan Merger Sub, Inc.                                                      | CUSIP: 541056AA5<br>LEI: 549300D12V5KRBV00592 | Long             | DBT              | CORP              | US        |    216000 | PA      | $116586.03    | 0.21%             | 2027-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Vistra Operations Company LLC                                               | Vistra Operations Company LLC                                               | CUSIP: 92840VAA0<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |     95000 | PA      | $91636.96     | 0.17%             | 2026-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Watco Companies, L.L.C.                                                     | Watco Companies, L.L.C.                                                     | CUSIP: 941130AB2<br>LEI: 549300UK74AMHGBXZG45 | Long             | DBT              | CORP              | US        |    171000 | PA      | $162198.32    | 0.30%             | 2027-06-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Travel + Leisure Co.                                                        | Travel + Leisure Co.                                                        | CUSIP: 98310WAN8<br>LEI: T4VNTWMFQ7JQB65L7T35 | Long             | DBT              | CORP              | US        |     65000 | PA      | $61818.33     | 0.11%             | 2027-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Travel + Leisure Co.                                                        | Travel + Leisure Co.                                                        | CUSIP: 98310WAQ1<br>LEI: T4VNTWMFQ7JQB65L7T35 | Long             | DBT              | CORP              | US        |     95000 | PA      | $79164.26     | 0.14%             | 2030-03-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Securus Technologies Holdings, Inc.                                         | Securus Technologies Holdings, Inc.                                         | CUSIP: 78410QAB8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    157821 | PA      | $117453.23    | 0.21%             | 2024-06-20      | Floating      | 8.17%                 | No            |                  2 | On Loan: No      |
| Mileage Plus Holdings LLC                                                   | Mileage Plus Holdings LLC                                                   | CUSIP: 59921PAB2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     44280 | PA      | $45486.63     | 0.08%             | 2023-12-31      | Floating      | 10.00%                | No            |                  2 | On Loan: No      |
| Michaels Companies, Inc.                                                    | Michaels Companies, Inc.                                                    | CUSIP: 59408UAB3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    121943 | PA      | $104939.27    | 0.19%             | 2028-04-08      | Floating      | 7.92%                 | No            |                  2 | On Loan: No      |
| GOGO Intermediate Holdings LLC                                              | GOGO Intermediate Holdings LLC                                              | CUSIP: 38046JAB0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    151036 | PA      | $149525.45    | 0.27%             | 2028-04-21      | Floating      | 8.16%                 | No            |                  2 | On Loan: No      |
| United Airlines, Inc.                                                       | United Airlines, Inc.                                                       | CUSIP: 90932RAJ3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     53153 | PA      | $52385.72     | 0.10%             | 2028-04-14      | Floating      | 8.11%                 | No            |                  2 | On Loan: No      |
| Lonza Group AG                                                              | Lonza Group AG                                                              | CUSIP: L4780EAC8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     80852 | PA      | $73878.58     | 0.13%             | 2028-04-29      | Floating      | 7.67%                 | No            |                  2 | On Loan: No      |
| Great Canadian Gaming Corporation                                           | Great Canadian Gaming Corporation                                           | CUSIP: C4111RAE5<br>LEI: N/A                  | Long             | LON              | CORP              | CA        |    154225 | PA      | $151075.73    | 0.28%             | 2026-11-01      | Floating      | 8.75%                 | No            |                  2 | On Loan: No      |
| Groupe Solmax Inc.                                                          | Groupe Solmax Inc.                                                          | CUSIP: C4127PAB7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     30943 | PA      | $25528.09     | 0.05%             | 2024-12-30      | Floating      | 8.39%                 | No            |                  2 | On Loan: No      |
| Groupe Solmax Inc.                                                          | Groupe Solmax Inc.                                                          | CUSIP: C4127PAB7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     21488 | PA      | $17728.00     | 0.03%             | 2024-12-30      | Floating      | 8.39%                 | No            |                  2 | On Loan: No      |
| EQM Midstream Partners, LP                                                  | EQM Midstream Partners, LP                                                  | CUSIP: 26885BAK6<br>LEI: 549300NELT611CL6XM83 | Long             | DBT              | CORP              | US        |    237000 | PA      | $200505.17    | 0.37%             | 2029-01-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| EQM Midstream Partners, LP                                                  | EQM Midstream Partners, LP                                                  | CUSIP: 26885BAL4<br>LEI: 549300NELT611CL6XM83 | Long             | DBT              | CORP              | US        |    128000 | PA      | $105476.15    | 0.19%             | 2031-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| EQM Midstream Partners, LP                                                  | EQM Midstream Partners, LP                                                  | CUSIP: 26885BAM2<br>LEI: 549300NELT611CL6XM83 | Long             | DBT              | CORP              | US        |     84000 | PA      | $82293.48     | 0.15%             | 2027-06-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Earthstone Energy Holdings, LLC                                             | Earthstone Energy Holdings, LLC                                             | CUSIP: 27034RAA1<br>LEI: 549300HGVO86L8G72J25 | Long             | DBT              | CORP              | US        |    170000 | PA      | $162083.28    | 0.30%             | 2027-04-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Edgewell Personal Care Colombia S A S                                       | Edgewell Personal Care Colombia S A S                                       | CUSIP: 28035QAA0<br>LEI: 549300CY8QZDL4Z3RU59 | Long             | DBT              | CORP              | US        |     74000 | PA      | $69277.96     | 0.13%             | 2028-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| EG Global Finance PLC                                                       | EG Global Finance PLC                                                       | CUSIP: 28228PAA9<br>LEI: 549300TL8Q5207VYET27 | Long             | DBT              | CORP              | US        |    180000 | PA      | $155700.00    | 0.28%             | 2025-02-07      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Eldorado Resorts, Inc.                                                      | Eldorado Resorts, Inc.                                                      | CUSIP: 28470RAH5<br>LEI: 549300V3UCT773B1KR38 | Long             | DBT              | CORP              | US        |    140000 | PA      | $136208.98    | 0.25%             | 2025-07-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Endeavor Energy Resources, L.P.                                             | Endeavor Energy Resources, L.P.                                             | CUSIP: 29260FAE0<br>LEI: 549300WY5QI80P9WHD46 | Long             | DBT              | CORP              | US        |     93000 | PA      | $89049.21     | 0.16%             | 2028-01-30      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Enerflex Ltd.                                                               | Enerflex Ltd.                                                               | CUSIP: 29269RAA3<br>LEI: 54930014N7872VUS3F89 | Long             | DBT              | CORP              | US        |    190000 | PA      | $189553.88    | 0.35%             | 2027-10-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Flex Ltd.                                                                   | Flex Ltd.                                                                   | CUSIP: 33938XAE5<br>LEI: 549300EAQH74YHD07T53 | Long             | DBT              | CORP              | US        |     79000 | PA      | $78977.25     | 0.14%             | 2028-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| IHOL Verwaltungs GmbH                                                       | IHOL Verwaltungs GmbH                                                       | CUSIP: 44963BAD0<br>LEI: 529900JL0HDVGZMUJF32 | Long             | DBT              | CORP              | US        |    167000 | PA      | $140973.04    | 0.26%             | 2029-05-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| IHOL Verwaltungs GmbH                                                       | IHOL Verwaltungs GmbH                                                       | CUSIP: 44963BAE8<br>LEI: 529900JL0HDVGZMUJF32 | Long             | DBT              | CORP              | US        |     88000 | PA      | $77386.15     | 0.14%             | 2027-05-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Southwestern Energy Company                                                 | Southwestern Energy Company                                                 | CUSIP: 845467AT6<br>LEI: EFWMP121W54QV9MGOP87 | Long             | DBT              | CORP              | US        |    211000 | PA      | $180158.59    | 0.33%             | 2032-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Sprint Corporation                                                          | Sprint Corporation                                                          | CUSIP: 85207UAH8<br>LEI: 549300ZTTY7CXOLJ6539 | Long             | DBT              | CORP              | US        |    331000 | PA      | $337724.66    | 0.62%             | 2024-06-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| Sprint Corporation                                                          | Sprint Corporation                                                          | CUSIP: 85207UAK1<br>LEI: 549300ZTTY7CXOLJ6539 | Long             | DBT              | CORP              | US        |     25000 | PA      | $26307.72     | 0.05%             | 2026-03-01      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| Staples, Inc.                                                               | Staples, Inc.                                                               | CUSIP: 855030AN2<br>LEI: XQM2JINI1UL7642TU573 | Long             | DBT              | CORP              | US        |    250000 | PA      | $215206.72    | 0.39%             | 2026-04-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Telesat Canada                                                              | Telesat Canada                                                              | CUSIP: 87952VAM8<br>LEI: 5493004V5GLBY6SO5Y34 | Long             | DBT              | CORP              | US        |    201000 | PA      | $59058.31     | 0.11%             | 2027-10-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Tenet Healthcare Corporation                                                | Tenet Healthcare Corporation                                                | CUSIP: 88033GDP2<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    196000 | PA      | $186673.25    | 0.34%             | 2030-06-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| Trinseo Materials Operating S.C.A.                                          | Trinseo Materials Operating S.C.A.                                          | CUSIP: 89668QAF5<br>LEI: 549300WNMXD3KV7LO256 | Long             | DBT              | CORP              | US        |    195000 | PA      | $126437.79    | 0.23%             | 2029-04-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Triumph Group, Inc.                                                         | Triumph Group, Inc.                                                         | CUSIP: 896818AS0<br>LEI: 5493007L6S47Q14SL582 | Long             | DBT              | CORP              | US        |     63000 | PA      | $64155.19     | 0.12%             | 2024-06-01      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| Var Energi ASA                                                              | Var Energi ASA                                                              | CUSIP: 92212WAE0<br>LEI: 549300LIVN3FFOJN2K47 | Long             | DBT              | CORP              | US        |    200000 | PA      | $206180.26    | 0.38%             | 2032-11-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Hilton Grand Vacations Borrower LLC                                         | Hilton Grand Vacations Borrower LLC                                         | CUSIP: 43284MAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    274000 | PA      | $224254.88    | 0.41%             | 2031-07-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Service Properties Trust                                                    | Service Properties Trust                                                    | CUSIP: 44106MAV4<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              | CORP              | US        |    248000 | PA      | $207359.34    | 0.38%             | 2026-02-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Howmet Aerospace Inc.                                                       | Howmet Aerospace Inc.                                                       | CUSIP: 443201AA6<br>LEI: 549300HO5WFZUT5N2T22 | Long             | DBT              | CORP              | US        |      4000 | PA      | $4101.20      | 0.01%             | 2025-05-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| HUB International Limited                                                   | HUB International Limited                                                   | CUSIP: 44332PAD3<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |    129000 | PA      | $126628.25    | 0.23%             | 2026-05-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| IRB Holding Corp.                                                           | IRB Holding Corp.                                                           | CUSIP: 44988MAC9<br>LEI: 549300HVW4WNWYBXN830 | Long             | DBT              | CORP              | US        |    101000 | PA      | $100725.58    | 0.18%             | 2025-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Intelligent Packaging Limited Purchaser Inc.                                | Intelligent Packaging Limited Purchaser Inc.                                | CUSIP: 45827MAA5<br>LEI: 549300D73EZIFX49H897 | Long             | DBT              | CORP              | US        |    181000 | PA      | $146130.99    | 0.27%             | 2028-09-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| International Game Technology PLC                                           | International Game Technology PLC                                           | CUSIP: 460599AE3<br>LEI: 549300UQ6KHRCZDRGZ76 | Long             | DBT              | CORP              | US        |    202000 | PA      | $189601.30    | 0.35%             | 2029-01-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Bath & Body Works, Inc.                                                     | Bath & Body Works, Inc.                                                     | CUSIP: 501797AR5<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | DBT              | CORP              | US        |    140000 | PA      | $138082.10    | 0.25%             | 2029-06-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: —       |
| LSF11 A5 Holdco LLC                                                         | LSF11 A5 Holdco LLC                                                         | CUSIP: 50221DAA7<br>LEI: 254900FPK7P5WNA66Y10 | Long             | DBT              | CORP              | US        |    231000 | PA      | $187329.15    | 0.34%             | 2029-10-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: —       |
| Level 3 Financing, Inc.                                                     | Level 3 Financing, Inc.                                                     | CUSIP: 527298BR3<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    186000 | PA      | $146526.75    | 0.27%             | 2028-07-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Level 3 Financing, Inc.                                                     | Level 3 Financing, Inc.                                                     | CUSIP: 527298BS1<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    140000 | PA      | $102423.36    | 0.19%             | 2029-01-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| Liberty Media Corporation                                                   | Liberty Media Corporation                                                   | CUSIP: 530715AJ0<br>LEI: 549300SZUIU7Z32Q0664 | Long             | DBT              | CORP              | US        |    245000 | PA      | $110095.65    | 0.20%             | 2030-02-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Murphy Oil Corporation                                                      | Murphy Oil Corporation                                                      | CUSIP: 626717AM4<br>LEI: QBKYQD0ODE7DC7PDIN91 | Long             | DBT              | CORP              | US        |    187000 | PA      | $179948.96    | 0.33%             | 2027-12-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ONEOK, Inc.                                                                 | ONEOK, Inc.                                                                 | CUSIP: 682680BG7<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |     46000 | PA      | $46142.86     | 0.08%             | 2032-11-15      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| Onemain Finance Corporation                                                 | Onemain Finance Corporation                                                 | CUSIP: 682691AB6<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    302000 | PA      | $250192.21    | 0.46%             | 2027-01-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Clarios Global LP                                                           | Clarios Global LP                                                           | CUSIP: 69867DAC2<br>LEI: 549300474L1ZLXZY2P98 | Long             | DBT              | CORP              | US        |    230000 | PA      | $225013.56    | 0.41%             | 2027-05-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: —       |
| Prime Security Services Borrower, LLC                                       | Prime Security Services Borrower, LLC                                       | CUSIP: 74166MAC0<br>LEI: 549300O6QPZVWXV2DC15 | Long             | DBT              | CORP              | US        |    152000 | PA      | $146465.50    | 0.27%             | 2026-04-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Navient Corporation                                                         | Navient Corporation                                                         | CUSIP: 78442FET1<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |    140000 | PA      | $137777.55    | 0.25%             | 2024-03-25      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| Scientific Games International, Inc.                                        | Scientific Games International, Inc.                                        | CUSIP: 80874YBC3<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | DBT              | CORP              | US        |     91000 | PA      | $87012.22     | 0.16%             | 2028-05-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Seagate HDD Cayman                                                          | Seagate HDD Cayman                                                          | CUSIP: 81180WAN1<br>LEI: 529900BD50TRWEG1SF63 | Long             | DBT              | CORP              | US        |     29000 | PA      | $24819.02     | 0.05%             | 2034-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Seaworld Entertainment, Inc.                                                | Seaworld Entertainment, Inc.                                                | CUSIP: 81282UAG7<br>LEI: 549300UZV72O3371JJ53 | Long             | DBT              | CORP              | US        |    186000 | PA      | $162236.91    | 0.30%             | 2029-08-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Navient Corporation                                                         | Navient Corporation                                                         | CUSIP: 63938CAJ7<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |    112000 | PA      | $106971.50    | 0.19%             | 2026-06-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Navient Corporation                                                         | Navient Corporation                                                         | CUSIP: 63938CAL2<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |    130000 | PA      | $106712.54    | 0.19%             | 2028-03-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Nemak, S.A.B. de C.V.                                                       | Nemak, S.A.B. de C.V.                                                       | CUSIP: 64045DAC8<br>LEI: 5493000MY3DAIB0BP706 | Long             | DBT              | CORP              | US        |    118000 | PA      | $91255.74     | 0.17%             | 2031-06-28      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| Nissan Motor Co., Ltd.                                                      | Nissan Motor Co., Ltd.                                                      | CUSIP: 654744AD3<br>LEI: 353800DRBDH1LUTNAY26 | Long             | DBT              | CORP              | US        |    315000 | PA      | $267153.01    | 0.49%             | 2030-09-17      | Fixed         | 4.81%                 | No            |                  2 | On Loan: No      |
| NOVA Chemicals Corporation                                                  | NOVA Chemicals Corporation                                                  | CUSIP: 66977WAR0<br>LEI: 5493007M1XGU5E55ZJ25 | Long             | DBT              | CORP              | US        |     93000 | PA      | $83545.68     | 0.15%             | 2027-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Southwestern Energy Company                                                 | Southwestern Energy Company                                                 | CUSIP: 845467AS8<br>LEI: EFWMP121W54QV9MGOP87 | Long             | DBT              | CORP              | US        |    173000 | PA      | $157332.00    | 0.29%             | 2030-03-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Onemain Finance Corporation                                                 | Onemain Finance Corporation                                                 | CUSIP: 85172FAP4<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    195000 | PA      | $188616.99    | 0.34%             | 2024-03-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| USA Compression Finance Corp.                                               | USA Compression Finance Corp.                                               | CUSIP: 91740PAF5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    140000 | PA      | $131298.18    | 0.24%             | 2027-09-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Telenet Finance Luxembourg Notes S.A R.L.                                   | Telenet Finance Luxembourg Notes S.A R.L.                                   | CUSIP: N/A<br>LEI: 2138007RI9GLJPCC3E25       | Long             | DBT              | CORP              | US        |    200000 | PA      | $176000.00    | 0.32%             | 2028-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Newell Brands Inc.                                                          | Newell Brands Inc.                                                          | CUSIP: 651229BD7<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |     90000 | PA      | $88849.80     | 0.16%             | 2029-09-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: —       |
| News Corporation                                                            | News Corporation                                                            | CUSIP: 65249BAA7<br>LEI: 549300ITS31QK8VRBQ14 | Long             | DBT              | CORP              | US        |     89000 | PA      | $77118.80     | 0.14%             | 2029-05-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| News Corporation                                                            | News Corporation                                                            | CUSIP: 65249BAB5<br>LEI: 549300ITS31QK8VRBQ14 | Long             | DBT              | CORP              | US        |     59000 | PA      | $53640.84     | 0.10%             | 2032-02-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: —       |
| NFP Corp.                                                                   | NFP Corp.                                                                   | CUSIP: 65342RAF7<br>LEI: VO2L9FZNXDJNQNEYH039 | Long             | DBT              | CORP              | US        |     93000 | PA      | $87420.00     | 0.16%             | 2030-10-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Nissan Motor Acceptance Corporation                                         | Nissan Motor Acceptance Corporation                                         | CUSIP: 654740BT5<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |    110000 | PA      | $89301.45     | 0.16%             | 2028-03-09      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| MPLX LP                                                                     | MPLX LP                                                                     | CUSIP: 55336V100<br>LEI: 5493000CZJ19CK4P3G36 | Long             | EC               | CORP              | US        |      2200 | NS      | $72248.00     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Macys Retail Holdings                                                       | Macys Retail Holdings                                                       | CUSIP: 55617LAQ5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    130000 | PA      | $112999.18    | 0.21%             | 2030-03-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Macys Retail Holdings                                                       | Macys Retail Holdings                                                       | CUSIP: 55617LAR3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    278000 | PA      | $233667.40    | 0.43%             | 2032-03-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| Magic Mergeco, Inc.                                                         | Magic Mergeco, Inc.                                                         | CUSIP: 55916AAA2<br>LEI: 549300H9LWMBP7HYLR98 | Long             | DBT              | CORP              | US        |    145000 | PA      | $117106.18    | 0.21%             | 2028-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Majordrive Holdings IV, LLC                                                 | Majordrive Holdings IV, LLC                                                 | CUSIP: 56085RAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    286000 | PA      | $213589.18    | 0.39%             | 2029-06-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Marriott Ownership Resorts, Inc.                                            | Marriott Ownership Resorts, Inc.                                            | CUSIP: 57164PAF3<br>LEI: BW4532OH033VURR0IT68 | Long             | DBT              | CORP              | US        |     76000 | PA      | $66046.75     | 0.12%             | 2028-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| NOVA Chemicals Corporation                                                  | NOVA Chemicals Corporation                                                  | CUSIP: 66977WAQ2<br>LEI: 5493007M1XGU5E55ZJ25 | Long             | DBT              | CORP              | US        |     86000 | PA      | $83312.96     | 0.15%             | 2024-06-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| NuStar Logistics, L.P.                                                      | NuStar Logistics, L.P.                                                      | CUSIP: 67059TAE5<br>LEI: N62BF2PKP51FIIOIUN20 | Long             | DBT              | CORP              | US        |    172000 | PA      | $161688.11    | 0.29%             | 2027-04-28      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| ZF North America Capital, Inc.                                              | ZF North America Capital, Inc.                                              | CUSIP: 98877DAC9<br>LEI: 529900JYGMS9CW9IQX78 | Long             | DBT              | CORP              | US        |     86000 | PA      | $80989.00     | 0.15%             | 2025-04-29      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Company LLC                                               | Ford Motor Credit Company LLC                                               | CUSIP: 345397A60<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    132000 | PA      | $127254.14    | 0.23%             | 2025-06-16      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Fortress Transportation And Infrastructure Investors LLC                    | Fortress Transportation And Infrastructure Investors LLC                    | CUSIP: 34960PAB7<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |    424000 | PA      | $398935.47    | 0.73%             | 2025-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Fortress Transportation And Infrastructure Investors LLC                    | Fortress Transportation And Infrastructure Investors LLC                    | CUSIP: 34960PAC5<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |     55000 | PA      | $55188.94     | 0.10%             | 2027-08-01      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| Fortress Transportation And Infrastructure Investors LLC                    | Fortress Transportation And Infrastructure Investors LLC                    | CUSIP: 34960PAD3<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |    161000 | PA      | $137226.80    | 0.25%             | 2028-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Freedom Mortgage Corporation                                                | Freedom Mortgage Corporation                                                | CUSIP: 35640YAF4<br>LEI: 549300LYRWPSYPK6S325 | Long             | DBT              | CORP              | US        |    159000 | PA      | $133681.85    | 0.24%             | 2026-05-01      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| Freeport-McMoRan Inc.                                                       | Freeport-McMoRan Inc.                                                       | CUSIP: 35671DCC7<br>LEI: 549300IRDTHJQ1PVET45 | Long             | DBT              | CORP              | US        |    117000 | PA      | $113823.14    | 0.21%             | 2027-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Frontier Communications Parent, Inc.                                        | Frontier Communications Parent, Inc.                                        | CUSIP: 35906ABE7<br>LEI: 549300ZCZ76HYCS0H445 | Long             | DBT              | CORP              | US        |     13000 | PA      | $12099.19     | 0.02%             | 2027-10-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Frontier Communications Parent, Inc.                                        | Frontier Communications Parent, Inc.                                        | CUSIP: 35906ABF4<br>LEI: 549300ZCZ76HYCS0H445 | Long             | DBT              | CORP              | US        |     93000 | PA      | $81098.18     | 0.15%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Frontier Communications Parent, Inc.                                        | Frontier Communications Parent, Inc.                                        | CUSIP: 35906ABG2<br>LEI: 549300ZCZ76HYCS0H445 | Long             | DBT              | CORP              | US        |    202000 | PA      | $167004.09    | 0.30%             | 2029-05-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Hertz Vehicle Financing II LP                                               | Hertz Vehicle Financing II LP                                               | CUSIP: 428040DB2<br>LEI: 549300PD0C69OJ0NLB27 | Long             | DBT              | CORP              | US        |     74000 | PA      | $56125.33     | 0.10%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Odeon Finco PLC                                                             | Odeon Finco PLC                                                             | CUSIP: 67585LAA3<br>LEI: 9845003ECF9901CC5382 | Long             | DBT              | CORP              | US        |     85000 | PA      | $74455.65     | 0.14%             | 2027-11-01      | Fixed         | 12.75%                | No            |                  2 | On Loan: —       |
| Prime Security Services Borrower, LLC                                       | Prime Security Services Borrower, LLC                                       | CUSIP: 74166MAF3<br>LEI: 549300O6QPZVWXV2DC15 | Long             | DBT              | CORP              | US        |     55000 | PA      | $47793.52     | 0.09%             | 2027-08-31      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| QVC, Inc.                                                                   | QVC, Inc.                                                                   | CUSIP: 747262AW3<br>LEI: 549300WBLU5NKPX5X472 | Long             | DBT              | CORP              | US        |    140000 | PA      | $74062.91     | 0.14%             | 2034-08-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Rocket Mortgage, LLC                                                        | Rocket Mortgage, LLC                                                        | CUSIP: 77313LAB9<br>LEI: 549300FGXN1K3HLB1R50 | Long             | DBT              | CORP              | US        |     57000 | PA      | $42636.19     | 0.08%             | 2033-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Altice France Holding S.A.                                                  | Altice France Holding S.A.                                                  | CUSIP: 02156LAC5<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | US        |    133000 | PA      | $104422.76    | 0.19%             | 2028-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Altice France Holding S.A.                                                  | Altice France Holding S.A.                                                  | CUSIP: 02156LAF8<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | US        |     67000 | PA      | $50111.72     | 0.09%             | 2029-07-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Sensata Technologies B.V.                                                   | Sensata Technologies B.V.                                                   | CUSIP: 81725WAK9<br>LEI: PUCKW5P5O3XMOZVH7T53 | Long             | DBT              | CORP              | US        |    225000 | PA      | $194071.88    | 0.35%             | 2029-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Shea Homes Limited Partnership, A California Limited Partnership            | Shea Homes Limited Partnership, A California Limited Partnership            | CUSIP: 82088KAJ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     19000 | PA      | $16015.56     | 0.03%             | 2029-04-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Altice France Holding S.A.                                                  | Altice France Holding S.A.                                                  | CUSIP: 02156LAH4<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | US        |    265000 | PA      | $202894.02    | 0.37%             | 2029-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Altice France                                                               | Altice France                                                               | CUSIP: 02156TAA2<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | US        |     69000 | PA      | $40740.10     | 0.07%             | 2028-02-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Shea Homes Limited Partnership, A California Limited Partnership            | Shea Homes Limited Partnership, A California Limited Partnership            | CUSIP: 82088KAK4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    140000 | PA      | $122337.10    | 0.22%             | 2028-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Shelf Drilling Management Services DMCC                                     | Shelf Drilling Management Services DMCC                                     | CUSIP: 822538AG9<br>LEI: 54930078ZJ3XP4MRYB68 | Long             | DBT              | CORP              | US        |    189000 | PA      | $185182.32    | 0.34%             | 2024-11-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| Sigma Holdco B.V.                                                           | Sigma Holdco B.V.                                                           | CUSIP: 82660CAA0<br>LEI: 254900RAPCKVT00GAO59 | Long             | DBT              | CORP              | NL        |    187000 | PA      | $132397.70    | 0.24%             | 2026-05-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Sirius XM Radio Inc.                                                        | Sirius XM Radio Inc.                                                        | CUSIP: 82967NBA5<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |     59000 | PA      | $54595.14     | 0.10%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AMS-Osram AG                                                                | AMS-Osram AG                                                                | CUSIP: 03217CAA4<br>LEI: 5299001JPPT2QFTV5D76 | Long             | DBT              | CORP              | US        |    572000 | PA      | $538007.37    | 0.98%             | 2025-07-31      | Fixed         | 7.00%                 | No            |                  2 | On Loan: —       |
| Antero Midstream Partners LP                                                | Antero Midstream Partners LP                                                | CUSIP: 03690AAD8<br>LEI: 529900HFO1BDEIT4QU11 | Long             | DBT              | CORP              | US        |    143000 | PA      | $135103.47    | 0.25%             | 2027-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Sirius XM Radio Inc.                                                        | Sirius XM Radio Inc.                                                        | CUSIP: 82967NBM9<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |    184000 | PA      | $145386.65    | 0.27%             | 2031-09-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| SkyMiles IP Ltd.                                                            | SkyMiles IP Ltd.                                                            | CUSIP: 830867AB3<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | DBT              | CORP              | US        |     42000 | PA      | $39560.18     | 0.07%             | 2028-10-20      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Antero Midstream Partners LP                                                | Antero Midstream Partners LP                                                | CUSIP: 03690AAH9<br>LEI: 529900HFO1BDEIT4QU11 | Long             | DBT              | CORP              | US        |    269000 | PA      | $246061.42    | 0.45%             | 2029-06-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Arches Buyer Inc.                                                           | Arches Buyer Inc.                                                           | CUSIP: 039524AB9<br>LEI: 2549009ADY4208OH2Y47 | Long             | DBT              | CORP              | US        |     19000 | PA      | $15246.60     | 0.03%             | 2028-12-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: —       |
| Onemain Finance Corporation                                                 | Onemain Finance Corporation                                                 | CUSIP: 85172FAR0<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    130000 | PA      | $106501.17    | 0.19%             | 2029-11-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| TKC Holdings, Inc.                                                          | TKC Holdings, Inc.                                                          | CUSIP: 87256YAC7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     97000 | PA      | $75908.84     | 0.14%             | 2028-05-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Ascent Resources - Utica, LLC                                               | Ascent Resources - Utica, LLC                                               | CUSIP: 04364VAG8<br>LEI: 549300EGLQ2M2CL7JZ89 | Long             | DBT              | CORP              | US        |    359000 | PA      | $349517.13    | 0.64%             | 2026-11-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Ashtead Capital, Inc.                                                       | Ashtead Capital, Inc.                                                       | CUSIP: 04505AAA7<br>LEI: 213800J1134IW58IC398 | Long             | DBT              | CORP              | US        |    200000 | PA      | $191679.00    | 0.35%             | 2032-08-11      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Tenet Healthcare Corporation                                                | Tenet Healthcare Corporation                                                | CUSIP: 88033GDN7<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |     80000 | PA      | $69311.36     | 0.13%             | 2030-01-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Terex Corporation                                                           | Terex Corporation                                                           | CUSIP: 880779BA0<br>LEI: YAWJZJYEQ7M1SYMOS462 | Long             | DBT              | CORP              | US        |    191000 | PA      | $171625.36    | 0.31%             | 2029-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Iliad Holding                                                               | Iliad Holding                                                               | CUSIP: 449691AC8<br>LEI: 9695009PXA7OI9NXN582 | Long             | DBT              | CORP              | US        |    363000 | PA      | $329232.51    | 0.60%             | 2028-10-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Telesat Canada                                                              | Telesat Canada                                                              | CUSIP: 87952VAR7<br>LEI: 5493004V5GLBY6SO5Y34 | Long             | DBT              | CORP              | US        |    193000 | PA      | $90201.98     | 0.16%             | 2026-12-06      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| United Airlines Pass Through Certificates, Series 2015-1                    | United Airlines Pass Through Certificates, Series 2015-1                    | CUSIP: 90932LAG2<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | DBT              | CORP              | US        |     70000 | PA      | $65196.21     | 0.12%             | 2026-04-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| United Airlines Pass Through Certificates, Series 2015-1                    | United Airlines Pass Through Certificates, Series 2015-1                    | CUSIP: 90932LAH0<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | DBT              | CORP              | US        |    368000 | PA      | $321158.56    | 0.59%             | 2029-04-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Tenet Healthcare Corporation                                                | Tenet Healthcare Corporation                                                | CUSIP: 88033GCY4<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    178000 | PA      | $169585.52    | 0.31%             | 2026-01-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Tenet Healthcare Corporation                                                | Tenet Healthcare Corporation                                                | CUSIP: 88033GDA5<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |     55000 | PA      | $51322.41     | 0.09%             | 2027-11-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| United Natural Foods, Inc.                                                  | United Natural Foods, Inc.                                                  | CUSIP: 911163AA1<br>LEI: 549300GKGW6WPZ282D40 | Long             | DBT              | CORP              | US        |    258000 | PA      | $248158.33    | 0.45%             | 2028-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Treasury, United States Department of                                       | Treasury, United States Department of                                       | CUSIP: 912796Z85<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |    560000 | PA      | $554498.95    | 1.01%             | 2023-03-28      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Tenet Healthcare Corporation                                                | Tenet Healthcare Corporation                                                | CUSIP: 88033GDJ6<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    302000 | PA      | $271004.51    | 0.49%             | 2028-10-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| Treasury, United States Department of                                       | Treasury, United States Department of                                       | CUSIP: 912796YL7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    280000 | PA      | $277667.60    | 0.51%             | 2023-03-16      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Hilcorp Energy I, L.P.                                                      | Hilcorp Energy I, L.P.                                                      | CUSIP: 431318AZ7<br>LEI: 549300ITPIHLG0LHEC09 | Long             | DBT              | CORP              | US        |     88000 | PA      | $75601.80     | 0.14%             | 2032-04-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Hilton Grand Vacations Borrower LLC                                         | Hilton Grand Vacations Borrower LLC                                         | CUSIP: 43284MAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     51000 | PA      | $44274.82     | 0.08%             | 2029-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ITT Holdings LLC                                                            | ITT Holdings LLC                                                            | CUSIP: 45074JAA2<br>LEI: 549300TH2PHOLK31LB42 | Long             | DBT              | CORP              | US        |    313000 | PA      | $264103.55    | 0.48%             | 2029-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| IQVIA Inc.                                                                  | IQVIA Inc.                                                                  | CUSIP: 46266TAA6<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |    125000 | PA      | $119274.74    | 0.22%             | 2027-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| iShares Broad USD High Yield Corporate Bond ETF                             | iShares Broad USD High Yield Corporate Bond ETF                             | CUSIP: 46435U853<br>LEI: 5493002YECWEEITPWL97 | Long             | EC               | RF                | US        |     12747 | NS      | $440153.91    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Jacobs Entertainment, Inc.                                                  | Jacobs Entertainment, Inc.                                                  | CUSIP: 469815AK0<br>LEI: 5493004U9JIWY3HSUO63 | Long             | DBT              | CORP              | US        |    331000 | PA      | $301020.56    | 0.55%             | 2029-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Jaguar Land Rover Automotive PLC                                            | Jaguar Land Rover Automotive PLC                                            | CUSIP: 47010BAA2<br>LEI: 529900L73GEWN1O5NH84 | Long             | DBT              | CORP              | US        |    111000 | PA      | $110587.03    | 0.20%             | 2023-02-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Jaguar Land Rover Automotive PLC                                            | Jaguar Land Rover Automotive PLC                                            | CUSIP: 47010BAJ3<br>LEI: 529900L73GEWN1O5NH84 | Long             | DBT              | CORP              | US        |    145000 | PA      | $134816.89    | 0.25%             | 2025-10-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Jaguar Land Rover Automotive PLC                                            | Jaguar Land Rover Automotive PLC                                            | CUSIP: 47010BAK0<br>LEI: 529900L73GEWN1O5NH84 | Long             | DBT              | CORP              | US        |     60000 | PA      | $46166.35     | 0.08%             | 2028-01-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Jaguar Land Rover Automotive PLC                                            | Jaguar Land Rover Automotive PLC                                            | CUSIP: 47010BAM6<br>LEI: 529900L73GEWN1O5NH84 | Long             | DBT              | CORP              | US        |    240000 | PA      | $170880.02    | 0.31%             | 2029-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| KB Home                                                                     | KB Home                                                                     | CUSIP: 48666KAY5<br>LEI: 549300LGUCWQURMWLG09 | Long             | DBT              | CORP              | US        |    191000 | PA      | $166272.65    | 0.30%             | 2029-11-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| NAC Aviation 29 Designated Activity Company                                 | NAC Aviation 29 Designated Activity Company                                 | CUSIP: 62877CAA1<br>LEI: 213800F6E89RCASJ7E83 | Long             | DBT              | CORP              | US        |    105878 | PA      | $84967.10     | 0.15%             | 2026-06-30      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Olin Corporation                                                            | Olin Corporation                                                            | CUSIP: 680665AL0<br>LEI: 549300GKK294V7W57P06 | Long             | DBT              | CORP              | US        |    200000 | PA      | $189642.07    | 0.35%             | 2029-08-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| PM General Purchaser LLC                                                    | PM General Purchaser LLC                                                    | CUSIP: 69356MAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    211000 | PA      | $160432.77    | 0.29%             | 2028-10-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Pacific Gas And Electric Company                                            | Pacific Gas And Electric Company                                            | CUSIP: 694308JT5<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |    170000 | PA      | $138190.72    | 0.25%             | 2031-06-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Pacific Gas And Electric Company                                            | Pacific Gas And Electric Company                                            | CUSIP: 694308KG1<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |    170000 | PA      | $166006.74    | 0.30%             | 2032-06-15      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| Pearl Merger Sub Inc.                                                       | Pearl Merger Sub Inc.                                                       | CUSIP: 70478JAA2<br>LEI: XYSIJOU3HNVROZWNA008 | Long             | DBT              | CORP              | US        |    159000 | PA      | $137945.80    | 0.25%             | 2028-10-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| PennyMac Financial Services, Inc.                                           | PennyMac Financial Services, Inc.                                           | CUSIP: 70932MAC1<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |    438000 | PA      | $354807.30    | 0.65%             | 2031-09-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Perrigo Finance Unlimited Company                                           | Perrigo Finance Unlimited Company                                           | CUSIP: 71429MAC9<br>LEI: 549300E86RB6YCTMRM83 | Long             | DBT              | CORP              | US        |    155000 | PA      | $132233.60    | 0.24%             | 2030-06-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| PetSmart, Inc.                                                              | PetSmart, Inc.                                                              | CUSIP: 71677KAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    230000 | PA      | $214566.37    | 0.39%             | 2029-02-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Pilgrim's Pride Corporation                                                 | Pilgrim's Pride Corporation                                                 | CUSIP: 72147KAE8<br>LEI: 549300ZSLGV64ZL3HD75 | Long             | DBT              | CORP              | US        |    131000 | PA      | $128371.94    | 0.23%             | 2027-09-30      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Pilgrim's Pride Corporation                                                 | Pilgrim's Pride Corporation                                                 | CUSIP: 72147KAF5<br>LEI: 549300ZSLGV64ZL3HD75 | Long             | DBT              | CORP              | US        |    426000 | PA      | $362601.55    | 0.66%             | 2031-04-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Pilgrim's Pride Corporation                                                 | Pilgrim's Pride Corporation                                                 | CUSIP: 72147KAG3<br>LEI: 549300ZSLGV64ZL3HD75 | Long             | DBT              | CORP              | US        |     48000 | PA      | $37519.56     | 0.07%             | 2032-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Pitney Bowes Inc.                                                           | Pitney Bowes Inc.                                                           | CUSIP: 724479AP5<br>LEI: 549300N2O26NW4ST6W55 | Long             | DBT              | CORP              | US        |    282000 | PA      | $241339.36    | 0.44%             | 2027-03-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: —       |
| FMG Resources (August 2006) Pty Ltd                                         | FMG Resources (August 2006) Pty Ltd                                         | CUSIP: 30251GBE6<br>LEI: 549300EFD6S2NFE9D745 | Long             | DBT              | CORP              | US        |    202000 | PA      | $188399.70    | 0.34%             | 2032-04-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| First Quantum Minerals Ltd                                                  | First Quantum Minerals Ltd                                                  | CUSIP: 335934AL9<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | US        |    121000 | PA      | $118330.41    | 0.22%             | 2025-04-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Hilcorp Energy I, L.P.                                                      | Hilcorp Energy I, L.P.                                                      | CUSIP: 431318AU8<br>LEI: 549300ITPIHLG0LHEC09 | Long             | DBT              | CORP              | US        |     61000 | PA      | $54507.67     | 0.10%             | 2029-02-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Hughes Satellite Systems Corporation                                        | Hughes Satellite Systems Corporation                                        | CUSIP: 444454AF9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     82000 | PA      | $76540.03     | 0.14%             | 2026-08-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Husky Energy Inc.                                                           | Husky Energy Inc.                                                           | CUSIP: 44810RAA6<br>LEI: 5493001LRMU2TM8ZZZ78 | Long             | DBT              | CORP              | US        |    402000 | PA      | $356005.72    | 0.65%             | 2025-02-15      | Fixed         | 13.00%                | No            |                  2 | On Loan: No      |
| Intelligent Packaging Holdco Issuer Ltd Partnership                         | Intelligent Packaging Holdco Issuer Ltd Partnership                         | CUSIP: 45827CAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     39000 | PA      | $27085.03     | 0.05%             | 2026-01-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Kraft Heinz Foods Company                                                   | Kraft Heinz Foods Company                                                   | CUSIP: 50077LAX4<br>LEI: 5493003STKEZ2S0RNU91 | Long             | DBT              | CORP              | US        |    218000 | PA      | $191380.49    | 0.35%             | 2039-10-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Kraft Heinz Foods Company                                                   | Kraft Heinz Foods Company                                                   | CUSIP: 50077LAZ9<br>LEI: 5493003STKEZ2S0RNU91 | Long             | DBT              | CORP              | US        |    153000 | PA      | $133518.47    | 0.24%             | 2049-10-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Bath & Body Works, Inc.                                                     | Bath & Body Works, Inc.                                                     | CUSIP: 501797AL8<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | DBT              | CORP              | US        |    165000 | PA      | $146679.30    | 0.27%             | 2035-11-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Open Text Corporation                                                       | Open Text Corporation                                                       | CUSIP: 683715AC0<br>LEI: 549300HP7ONDQODZJV16 | Long             | DBT              | CORP              | US        |    112000 | PA      | $96122.02     | 0.18%             | 2028-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Open Text Corporation                                                       | Open Text Corporation                                                       | CUSIP: 683715AD8<br>LEI: 549300HP7ONDQODZJV16 | Long             | DBT              | CORP              | US        |    157000 | PA      | $126385.12    | 0.23%             | 2029-12-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Open Text Corporation                                                       | Open Text Corporation                                                       | CUSIP: 683720AA4<br>LEI: 549300HP7ONDQODZJV16 | Long             | DBT              | CORP              | US        |    215000 | PA      | $174910.77    | 0.32%             | 2030-02-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Organon & Co.                                                               | Organon & Co.                                                               | CUSIP: 68622TAB7<br>LEI: 549300AMCKY57OK2CO56 | Long             | DBT              | CORP              | US        |    247000 | PA      | $213957.47    | 0.39%             | 2031-04-30      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Prime Security Services Borrower, LLC                                       | Prime Security Services Borrower, LLC                                       | CUSIP: 74166MAB2<br>LEI: 549300O6QPZVWXV2DC15 | Long             | DBT              | CORP              | US        |     52000 | PA      | $51141.53     | 0.09%             | 2024-04-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Ford Motor Company                                                          | Ford Motor Company                                                          | CUSIP: 345370CS7<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |     62000 | PA      | $47499.94     | 0.09%             | 2046-12-08      | Fixed         | 5.29%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-02-28

**Name of Applicant:** PPM Funds

**Signature:** Andrew Tedeschi

**Name of Signer:** Andrew Tedeschi

**Title:** Principal Financial Officer