# EDGAR Filing Document

**Accession Number:** 0001174610
**File Stem:** 0001752724-25-180253
**Filing Date:** 2025-7
**Character Count:** 102317
**Document Hash:** d3fe3b3b559637748c6d70e576dfbe1b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-180253.hdr.sgml**: 20250728

**ACCESSION NUMBER**: 0001752724-25-180253

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250531

**FILED AS OF DATE**: 20250728

**DATE AS OF CHANGE**: 20250728

**PERIOD START**: 20250531

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PROSHARES TRUST
- **CENTRAL INDEX KEY:** 0001174610

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0531

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21114
- **FILM NUMBER:** 251154102

**BUSINESS ADDRESS:**
- **STREET 1:** 7272 WISCONSIN AVENUE
- **STREET 2:** 21ST FLOOR
- **CITY:** BETHESDA
- **STATE:** MD
- **ZIP:** 20814
- **BUSINESS PHONE:** 240-497-6400

**MAIL ADDRESS:**
- **STREET 1:** 7272 WISCONSIN AVENUE
- **STREET 2:** 21ST FLOOR
- **CITY:** BETHESDA
- **STATE:** MD
- **ZIP:** 20814

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** XTRASHARES TRUST
- **DATE OF NAME CHANGE:** 20030409

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PROFUNDS ETF TRUST
- **DATE OF NAME CHANGE:** 20020531

## Series and Classes Contracts Data

### ProShares High Yield-Interest Rate Hedged (Series ID: S000039732)

| Class ID   | Class Name                                | Ticker Symbol   |
|:---|:---|:---|
| C000123089 | ProShares High Yield-Interest Rate Hedged | HYHG            |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** ProShares Trust

- **b. Investment Company Act file number:** 811-21114

- **c. CIK number of Registrant:** 0001174610

- **d. LEI of Registrant:** 5493005D9DS7C1P5AM59

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

  - **Street Address 1:** 7272 Wisconsin Avenue

  - **City:** Bethesda

  - **State:** MD

  - **Foreign country:** US

  - **Zip / Postal Code:** 20814

  - **Telephone number:** 240-497-6400

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

- **a. Name of Series:** ProShares High Yield-Interest Rate Hedged

- **b. EDGAR series identifier (if any):** S000039732

- **c. LEI of Series:** 549300FV6XUZGOJNSR91

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

- **a. Date of fiscal year-end:** 2025-05-31

- **b. Date as of which information is reported:** 2025-05-31

**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:** $170366900.15

**Total Liabilities:** $3116993.50

**Net Assets:** $167249906.65

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0.00000000 | **1-Year:** 9.22201100 | **5-Year:** 262.47337200 | **10-Year:** 348.71705200 | **30-Year:** 0.00000000

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

- **3-Month:** 111.53645400 | **1-Year:** 11261.65376500 | **5-Year:** 33373.37879800 | **10-Year:** 4746.32262900 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000123089 | -1.52%               | -0.61%               | 2.43%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-634673.99              | $-2831349.16                               |
| Month 2  | $56138.46                | $-958638.58                                |
| Month 3  | $-363249.59              | $1857479.02                                |

**Designated Index Information**

- **Index Name:** FTSE High Yield (Treasury Rate-Hedged) Index

- **Index Identifier:** CFIIHYHG

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Clydesdale Acquisition Holdings, Inc.                    | Clydesdale Acquisition Holdings, Inc.                    | CUSIP: 18972EAB1<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |    507000 | PA      | $518425.75    | 0.31%             | 2030-04-15      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| Standard Industries, Inc.                                | Standard Industries, Inc.                                | CUSIP: 853496AG2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2076000 | PA      | $1948450.04   | 1.16%             | 2030-07-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| PetSmart, Inc.                                           | PetSmart, Inc.                                           | CUSIP: 71677KAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    622000 | PA      | $600251.96    | 0.36%             | 2028-02-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Ardagh Packaging Finance plc                             | Ardagh Packaging Finance plc                             | CUSIP: 03969AAR1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1377000 | PA      | $626535.00    | 0.37%             | 2027-08-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| CSC Holdings LLC                                         | CSC Holdings LLC                                         | CUSIP: 126307BN6<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |   1149000 | PA      | $1077500.37   | 0.64%             | 2029-01-31      | Fixed         | 11.75%                | Yes           |                  2 | On Loan: No      |
| Performance Food Group, Inc.                             | Performance Food Group, Inc.                             | CUSIP: 71376LAE0<br>LEI: 549300OMUOGBYK0FFO76 | Long             | DBT              | CORP              | US        |    679000 | PA      | $646734.94    | 0.39%             | 2029-08-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Frontier Communications Holdings LLC                     | Frontier Communications Holdings LLC                     | CUSIP: 35908MAD2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    835000 | PA      | $876254.91    | 0.52%             | 2030-05-15      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| Celanese US Holdings LLC                                 | Celanese US Holdings LLC                                 | CUSIP: 15089QAM6<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |     62000 | PA      | $63551.99     | 0.04%             | 2027-07-15      | Fixed         | 6.41%                 | No            |                  2 | On Loan: No      |
| Permian Resources Operating LLC                          | Permian Resources Operating LLC                          | CUSIP: 71424VAB6<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |    606000 | PA      | $597829.30    | 0.36%             | 2033-02-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Talen Energy Supply LLC                                  | Talen Energy Supply LLC                                  | CUSIP: 87422VAK4<br>LEI: K5K33XN0PQAU1XF7NN66 | Long             | DBT              | CORP              | US        |    214000 | PA      | $228307.61    | 0.14%             | 2030-06-01      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| Albertsons Cos., Inc.                                    | Albertsons Cos., Inc.                                    | CUSIP: 013092AG6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    539000 | PA      | $506374.38    | 0.30%             | 2029-03-15      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| Block, Inc.                                              | Block, Inc.                                              | CUSIP: 852234AS2<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |   1210000 | PA      | $1238006.66   | 0.74%             | 2032-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Mauser Packaging Solutions Holding Co.                   | Mauser Packaging Solutions Holding Co.                   | CUSIP: 57763RAD9<br>LEI: 549300DNGHXL0OMHW304 | Long             | DBT              | CORP              | US        |   1871000 | PA      | $1888690.31   | 1.13%             | 2027-04-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| ITT Holdings LLC                                         | ITT Holdings LLC                                         | CUSIP: 45074JAA2<br>LEI: 549300TH2PHOLK31LB42 | Long             | DBT              | CORP              | US        |    653000 | PA      | $609582.36    | 0.36%             | 2029-08-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Repurchase Agreement                                     | Repurchase Agreement                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | RA               | CORP              | US        |   1803001 | PA      | $1803000.94   | 1.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Post Holdings, Inc.                                      | Post Holdings, Inc.                                      | CUSIP: 737446AV6<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |   1040000 | PA      | $1032388.45   | 0.62%             | 2033-03-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Prime Healthcare Services, Inc.                          | Prime Healthcare Services, Inc.                          | CUSIP: 74165HAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    649000 | PA      | $659323.36    | 0.39%             | 2029-09-01      | Fixed         | 9.38%                 | Yes           |                  2 | On Loan: No      |
| Sunoco LP                                                | Sunoco LP                                                | CUSIP: 86765KAD1<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |    521000 | PA      | $521014.06    | 0.31%             | 2033-07-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Post Holdings, Inc.                                      | Post Holdings, Inc.                                      | CUSIP: 737446AU8<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |    500000 | PA      | $508385.50    | 0.30%             | 2032-02-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Cloud Software Group, Inc.                               | Cloud Software Group, Inc.                               | CUSIP: 88632QAE3<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |   2109000 | PA      | $2106522.11   | 1.26%             | 2029-03-31      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Smyrna Ready Mix Concrete LLC                            | Smyrna Ready Mix Concrete LLC                            | CUSIP: 85236FAA1<br>LEI: 549300S7RFWHQFOIOY93 | Long             | DBT              | CORP              | US        |    322000 | PA      | $317350.74    | 0.19%             | 2028-11-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| RHP Hotel Properties LP                                  | RHP Hotel Properties LP                                  | CUSIP: 749571AK1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    382000 | PA      | $387266.63    | 0.23%             | 2032-04-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Univision Communications, Inc.                           | Univision Communications, Inc.                           | CUSIP: 914906AU6<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |    693000 | PA      | $693291.75    | 0.41%             | 2027-06-01      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Bausch Health Cos., Inc.                                 | Bausch Health Cos., Inc.                                 | CUSIP: 071734AQ0<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |   1529000 | PA      | $1467021.99   | 0.88%             | 2028-09-30      | Fixed         | 11.00%                | Yes           |                  2 | On Loan: No      |
| Owens & Minor, Inc.                                      | Owens & Minor, Inc.                                      | CUSIP: 690732AH5<br>LEI: 549300LMT5KQQXCEZ733 | Long             | DBT              | CORP              | US        |    440000 | PA      | $459587.74    | 0.27%             | 2030-04-15      | Fixed         | 10.00%                | Yes           |                  2 | On Loan: No      |
| Hertz Corp. (The)                                        | Hertz Corp. (The)                                        | CUSIP: 428040DB2<br>LEI: 549300PD0C69OJ0NLB27 | Long             | DBT              | CORP              | US        |     96000 | PA      | $65171.21     | 0.04%             | 2029-12-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: —       |
| Belron UK Finance plc                                    | Belron UK Finance plc                                    | CUSIP: 080782AA3<br>LEI: 9845006BC9D1A77B8178 | Long             | DBT              | CORP              | GB        |    662000 | PA      | $663781.44    | 0.40%             | 2029-10-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Prime Security Services Borrower LLC                     | Prime Security Services Borrower LLC                     | CUSIP: 74166MAF3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    729000 | PA      | $699905.03    | 0.42%             | 2027-08-31      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| TK Elevator US Newco, Inc.                               | TK Elevator US Newco, Inc.                               | CUSIP: 92537RAA7<br>LEI: 549300C2AFWPAYWS5574 | Long             | DBT              | CORP              | US        |    721000 | PA      | $714184.31    | 0.43%             | 2027-07-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Voyager Parent LLC                                       | Voyager Parent LLC                                       | CUSIP: 92921EAA0<br>LEI: 2549002DYVI4ACSV4V71 | Long             | DBT              | CORP              | US        |    500000 | PA      | $516566.34    | 0.31%             | 2032-07-01      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| Crescent Energy Finance LLC                              | Crescent Energy Finance LLC                              | CUSIP: 45344LAE3<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |    489000 | PA      | $453808.33    | 0.27%             | 2033-01-15      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Quikrete Holdings, Inc.                                  | Quikrete Holdings, Inc.                                  | CUSIP: 74843PAA8<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |   1321000 | PA      | $1342232.43   | 0.80%             | 2032-03-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| eG Global Finance plc                                    | eG Global Finance plc                                    | CUSIP: 28228PAC5<br>LEI: 549300TL8Q5207VYET27 | Long             | DBT              | CORP              | GB        |    450000 | PA      | $496155.96    | 0.30%             | 2028-11-30      | Fixed         | 12.00%                | Yes           |                  2 | On Loan: No      |
| DISH Network Corp.                                       | DISH Network Corp.                                       | CUSIP: 25470MAG4<br>LEI: 529900U350CWHH15G169 | Long             | DBT              | CORP              | US        |   2379000 | PA      | $2454352.09   | 1.47%             | 2027-11-15      | Fixed         | 11.75%                | Yes           |                  2 | On Loan: No      |
| Repurchase Agreement                                     | Repurchase Agreement                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | RA               | CORP              | US        |     90150 | PA      | $90150.05     | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Hilton Domestic Operating Co., Inc.                      | Hilton Domestic Operating Co., Inc.                      | CUSIP: 432833AL5<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |    769000 | PA      | $711081.63    | 0.43%             | 2031-05-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| McAfee Corp.                                             | McAfee Corp.                                             | CUSIP: 579063AB4<br>LEI: 2549009UKR8UEZYVCR93 | Long             | DBT              | CORP              | US        |    989000 | PA      | $915168.11    | 0.55%             | 2030-02-15      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Rocket Mortgage LLC                                      | Rocket Mortgage LLC                                      | CUSIP: 77313LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    259000 | PA      | $250862.50    | 0.15%             | 2026-10-15      | Fixed         | 2.88%                 | Yes           |                  2 | On Loan: No      |
| Windstream Services LLC                                  | Windstream Services LLC                                  | CUSIP: 97381AAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1100000 | PA      | $1144725.41   | 0.68%             | 2031-10-01      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| Community Health Systems, Inc.                           | Community Health Systems, Inc.                           | CUSIP: 12543DBG4<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |   2099000 | PA      | $2067209.60   | 1.24%             | 2027-03-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Panther Escrow Issuer LLC                                | Panther Escrow Issuer LLC                                | CUSIP: 69867RAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1283000 | PA      | $1326444.19   | 0.79%             | 2031-06-01      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| Service Properties Trust                                 | Service Properties Trust                                 | CUSIP: 81761LAC6<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              | CORP              | US        |    420000 | PA      | $447520.92    | 0.27%             | 2031-11-15      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| CSC Holdings LLC                                         | CSC Holdings LLC                                         | CUSIP: 126307BD8<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    204000 | PA      | $93840.00     | 0.06%             | 2030-12-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Paramount Global                                         | Paramount Global                                         | CUSIP: 92556HAE7<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |    542000 | PA      | $529803.48    | 0.32%             | 2062-03-30      | Variable      | 6.38%                 | No            |                  2 | On Loan: No      |
| QXO Building Products, Inc.                              | QXO Building Products, Inc.                              | CUSIP: 74825NAA5<br>LEI: 549300HDXQWWCBOYXP31 | Long             | DBT              | CORP              | US        |    500000 | PA      | $512570.94    | 0.31%             | 2032-04-30      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Snap, Inc.                                               | Snap, Inc.                                               | CUSIP: 83304AAL0<br>LEI: 549300JNC0L6VP8A2Q35 | Long             | DBT              | CORP              | US        |    684000 | PA      | $692810.58    | 0.41%             | 2033-03-01      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Tenet Healthcare Corp.                                   | Tenet Healthcare Corp.                                   | CUSIP: 88033GDK3<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |   1133000 | PA      | $1134677.97   | 0.68%             | 2028-10-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| CommScope LLC                                            | CommScope LLC                                            | CUSIP: 20338MAA0<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |    503000 | PA      | $522814.18    | 0.31%             | 2031-12-15      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| Sunrise FinCo. I BV                                      | Sunrise FinCo. I BV                                      | CUSIP: 90320BAA7<br>LEI: 213800MNFBDEQRS6HZ22 | Long             | DBT              | CORP              | NL        |   3586000 | PA      | $3330318.20   | 1.99%             | 2031-07-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| NGL Energy Operating LLC                                 | NGL Energy Operating LLC                                 | CUSIP: 62922LAD0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    701000 | PA      | $663503.87    | 0.40%             | 2032-02-15      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| Yum! Brands, Inc.                                        | Yum! Brands, Inc.                                        | CUSIP: 988498AN1<br>LEI: 549300JE8XHZZ7OHN517 | Long             | DBT              | CORP              | US        |    148000 | PA      | $134521.60    | 0.08%             | 2031-03-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Directv Financing LLC                                    | Directv Financing LLC                                    | CUSIP: 25461LAD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $486622.15    | 0.29%             | 2031-02-15      | Fixed         | 10.00%                | Yes           |                  2 | On Loan: No      |
| CQP Holdco LP                                            | CQP Holdco LP                                            | CUSIP: 12657NAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    483000 | PA      | $464090.65    | 0.28%             | 2031-06-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Ardonagh Finco Ltd.                                      | Ardonagh Finco Ltd.                                      | CUSIP: 039853AA4<br>LEI: 254900D2T84O1K03BA28 | Long             | DBT              | CORP              | JE        |    500000 | PA      | $517012.10    | 0.31%             | 2031-02-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Builders FirstSource, Inc.                               | Builders FirstSource, Inc.                               | CUSIP: 12008RAS6<br>LEI: 549300W0SKP6L3H7DP63 | Long             | DBT              | CORP              | US        |    971000 | PA      | $967073.47    | 0.58%             | 2034-03-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| CCO Holdings LLC                                         | CCO Holdings LLC                                         | CUSIP: 1248EPCK7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2661000 | PA      | $2435426.76   | 1.46%             | 2031-02-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| SBA Communications Corp.                                 | SBA Communications Corp.                                 | CUSIP: 78410GAD6<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | DBT              | CORP              | US        |    810000 | PA      | $794197.97    | 0.47%             | 2027-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Repurchase Agreement                                     | Repurchase Agreement                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | RA               | CORP              | US        |   1262101 | PA      | $1262100.65   | 0.75%             |  |  |  | No            |                  2 | On Loan: No      |
| Delek Logistics Partners LP                              | Delek Logistics Partners LP                              | CUSIP: 24665FAD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    536000 | PA      | $555085.35    | 0.33%             | 2029-03-15      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| Michaels Cos., Inc. (The)                                | Michaels Cos., Inc. (The)                                | CUSIP: 55916AAB0<br>LEI: 549300H9LWMBP7HYLR98 | Long             | DBT              | CORP              | US        |    919000 | PA      | $453451.42    | 0.27%             | 2029-05-01      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| CVS Health Corp.                                         | CVS Health Corp.                                         | CUSIP: 126650EH9<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |   1243000 | PA      | $1251743.26   | 0.75%             | 2055-03-10      | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| RR Donnelley & Sons Co.                                  | RR Donnelley & Sons Co.                                  | CUSIP: 257867BJ9<br>LEI: SU4X0P4WWRGOQDTSV032 | Long             | DBT              | CORP              | US        |    520000 | PA      | $521306.67    | 0.31%             | 2029-08-01      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| American Airlines, Inc.                                  | American Airlines, Inc.                                  | CUSIP: 023771T40<br>LEI: IWUQB36BXD6OWD6X4T14 | Long             | DBT              | CORP              | US        |    301000 | PA      | $311848.34    | 0.19%             | 2029-05-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Vmed O2 UK Financing I plc                               | Vmed O2 UK Financing I plc                               | CUSIP: 92858RAA8<br>LEI: 213800MRR46ECNGZ7L69 | Long             | DBT              | CORP              | GB        |    587000 | PA      | $531221.09    | 0.32%             | 2031-01-31      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| MPT Operating Partnership LP                             | MPT Operating Partnership LP                             | CUSIP: 55342UAQ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1134000 | PA      | $1162466.58   | 0.70%             | 2032-02-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| PG&E Corp.                                               | PG&E Corp.                                               | CUSIP: 69331CAJ7<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | DBT              | CORP              | US        |     76000 | PA      | $73738.87     | 0.04%             | 2030-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Kinetik Holdings LP                                      | Kinetik Holdings LP                                      | CUSIP: 49461MAA8<br>LEI: 549300RD6AJIMYC0HY12 | Long             | DBT              | CORP              | US        |    356000 | PA      | $353804.33    | 0.21%             | 2030-06-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Sinclair Television Group, Inc.                          | Sinclair Television Group, Inc.                          | CUSIP: 829259BH2<br>LEI: 549300CQGEN0CH65UD62 | Long             | DBT              | CORP              | US        |    550000 | PA      | $550291.50    | 0.33%             | 2033-02-15      | Fixed         | 8.12%                 | Yes           |                  2 | On Loan: No      |
| Lightning Power LLC                                      | Lightning Power LLC                                      | CUSIP: 53229KAA7<br>LEI: 254900BWCHJ03XRL8K59 | Long             | DBT              | CORP              | US        |    546000 | PA      | $572456.83    | 0.34%             | 2032-08-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| USA Compression Partners LP                              | USA Compression Partners LP                              | CUSIP: 91740PAG3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    419000 | PA      | $425538.91    | 0.25%             | 2029-03-15      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| Fertitta Entertainment LLC                               | Fertitta Entertainment LLC                               | CUSIP: 31556TAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    495000 | PA      | $464233.52    | 0.28%             | 2029-01-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Vistra Operations Co. LLC                                | Vistra Operations Co. LLC                                | CUSIP: 92840VAP7<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    755000 | PA      | $800586.90    | 0.48%             | 2031-10-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Ball Corp.                                               | Ball Corp.                                               | CUSIP: 058498AW6<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | DBT              | CORP              | US        |    560000 | PA      | $496327.78    | 0.30%             | 2030-08-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| Allied Universal Holdco LLC                              | Allied Universal Holdco LLC                              | CUSIP: 019576AD9<br>LEI: 98450038B4549046D794 | Long             | DBT              | CORP              | US        |    569000 | PA      | $589667.90    | 0.35%             | 2031-02-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| PetSmart, Inc.                                           | PetSmart, Inc.                                           | CUSIP: 71677KAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    614000 | PA      | $597613.81    | 0.36%             | 2029-02-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Jane Street Group                                        | Jane Street Group                                        | CUSIP: 47077WAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    709000 | PA      | $740837.86    | 0.44%             | 2031-04-30      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| Intelsat Jackson Holdings SA                             | Intelsat Jackson Holdings SA                             | CUSIP: 45824TBC8<br>LEI: 8XJ8KF85PBKK1TLMFN29 | Long             | DBT              | CORP              | LU        |   1162000 | PA      | $1142683.89   | 0.68%             | 2030-03-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Imola Merger Corp.                                       | Imola Merger Corp.                                       | CUSIP: 45258LAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    826000 | PA      | $791506.65    | 0.47%             | 2029-05-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Valaris Ltd.                                             | Valaris Ltd.                                             | CUSIP: 91889FAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    481000 | PA      | $482830.89    | 0.29%             | 2030-04-30      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| NFE Financing LLC                                        | NFE Financing LLC                                        | CUSIP: 62909BAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1169000 | PA      | $519074.48    | 0.31%             | 2029-11-15      | Fixed         | 12.00%                | Yes           |                  2 | On Loan: No      |
| Uniti Group LP                                           | Uniti Group LP                                           | CUSIP: 91327TAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    260000 | PA      | $275826.46    | 0.16%             | 2028-02-15      | Fixed         | 10.50%                | Yes           |                  2 | On Loan: No      |
| Sirius XM Radio LLC                                      | Sirius XM Radio LLC                                      | CUSIP: 82967NBJ6<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |   1145000 | PA      | $1086359.28   | 0.65%             | 2028-07-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| WR Grace Holdings LLC                                    | WR Grace Holdings LLC                                    | CUSIP: 92943GAA9<br>LEI: 549300WNOVFRGYOAEB12 | Long             | DBT              | CORP              | US        |     12000 | PA      | $10572.77     | 0.01%             | 2029-08-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Repurchase Agreement                                     | Repurchase Agreement                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | RA               | CORP              | US        |    540900 | PA      | $540900.28    | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| DaVita, Inc.                                             | DaVita, Inc.                                             | CUSIP: 23918KAT5<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |    204000 | PA      | $180619.50    | 0.11%             | 2031-02-15      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| Yum! Brands, Inc.                                        | Yum! Brands, Inc.                                        | CUSIP: 988498AP6<br>LEI: 549300JE8XHZZ7OHN517 | Long             | DBT              | CORP              | US        |    211000 | PA      | $200084.55    | 0.12%             | 2032-01-31      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| CITGO Petroleum Corp.                                    | CITGO Petroleum Corp.                                    | CUSIP: 17302XAN6<br>LEI: YX52P86PXMLYDOTUQ225 | Long             | DBT              | CORP              | US        |    450000 | PA      | $457141.95    | 0.27%             | 2029-01-15      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| Coinbase Global, Inc.                                    | Coinbase Global, Inc.                                    | CUSIP: 19260QAC1<br>LEI: 5493004G3J2SC154DU06 | Long             | DBT              | CORP              | US        |    521000 | PA      | $484509.16    | 0.29%             | 2028-10-01      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| Opal Bidco SAS                                           | Opal Bidco SAS                                           | CUSIP: 68348BAA1<br>LEI: 969500R96XT7XY2UJ564 | Long             | DBT              | CORP              | FR        |    332000 | PA      | $331732.11    | 0.20%             | 2032-03-31      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Saks Global Enterprises LLC                              | Saks Global Enterprises LLC                              | CUSIP: 79380MAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    416000 | PA      | $188240.00    | 0.11%             | 2029-12-15      | Fixed         | 11.00%                | Yes           |                  2 | On Loan: No      |
| Caesars Entertainment, Inc.                              | Caesars Entertainment, Inc.                              | CUSIP: 12769GAC4<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |   1108000 | PA      | $1116896.13   | 0.67%             | 2032-02-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Husky Injection Molding Systems Ltd.                     | Husky Injection Molding Systems Ltd.                     | CUSIP: 44805RAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    349000 | PA      | $356939.05    | 0.21%             | 2029-02-15      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| Focus Financial Partners LLC                             | Focus Financial Partners LLC                             | CUSIP: 34417VAA5<br>LEI: 5493007L0E0VKRC2CP39 | Long             | DBT              | CORP              | US        |    382000 | PA      | $386438.46    | 0.23%             | 2031-09-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Freedom Mortgage Holdings LLC                            | Freedom Mortgage Holdings LLC                            | CUSIP: 35641AAA6<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |    556000 | PA      | $573247.12    | 0.34%             | 2029-02-01      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| Jefferies Finance LLC                                    | Jefferies Finance LLC                                    | CUSIP: 47232MAF9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    422000 | PA      | $399733.89    | 0.24%             | 2028-08-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Avantor Funding, Inc.                                    | Avantor Funding, Inc.                                    | CUSIP: 05352TAA7<br>LEI: 5493003VM0XB4U8YD238 | Long             | DBT              | CORP              | US        |    646000 | PA      | $629393.99    | 0.38%             | 2028-07-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Vital Energy, Inc.                                       | Vital Energy, Inc.                                       | CUSIP: 516806AK2<br>LEI: 549300X0PTWU2QSLSL14 | Long             | DBT              | CORP              | US        |    451000 | PA      | $365565.72    | 0.22%             | 2032-04-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: —       |
| Staples, Inc.                                            | Staples, Inc.                                            | CUSIP: 855030AQ5<br>LEI: XQM2JINI1UL7642TU573 | Long             | DBT              | CORP              | US        |   1060000 | PA      | $958263.96    | 0.57%             | 2029-09-01      | Fixed         | 10.75%                | Yes           |                  2 | On Loan: No      |
| Howden UK Refinance plc                                  | Howden UK Refinance plc                                  | CUSIP: 44287GAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |    467000 | PA      | $479418.00    | 0.29%             | 2031-02-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Axon Enterprise, Inc.                                    | Axon Enterprise, Inc.                                    | CUSIP: 05464CAC5<br>LEI: 549300QP2IEEGFE16681 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1017114.00   | 0.61%             | 2030-03-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Hilton Domestic Operating Co., Inc.                      | Hilton Domestic Operating Co., Inc.                      | CUSIP: 432833AN1<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |    556000 | PA      | $494256.31    | 0.30%             | 2032-02-15      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| Wand NewCo 3, Inc.                                       | Wand NewCo 3, Inc.                                       | CUSIP: 933940AA6<br>LEI: 549300Y3VZEWMSQW8494 | Long             | DBT              | CORP              | US        |    445000 | PA      | $462939.73    | 0.28%             | 2032-01-30      | Fixed         | 7.62%                 | Yes           |                  2 | On Loan: No      |
| Albion Financing 1 SARL                                  | Albion Financing 1 SARL                                  | CUSIP: 01330AAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    500000 | PA      | $507926.17    | 0.30%             | 2030-05-21      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Directv Financing LLC                                    | Directv Financing LLC                                    | CUSIP: 25461LAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1026000 | PA      | $1009493.30   | 0.60%             | 2027-08-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Sable International Finance Ltd.                         | Sable International Finance Ltd.                         | CUSIP: 785712AK6<br>LEI: 2138009IE9A35LO5JS73 | Long             | DBT              | CORP              | KY        |    519000 | PA      | $509324.54    | 0.30%             | 2032-10-15      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| LifePoint Health, Inc.                                   | LifePoint Health, Inc.                                   | CUSIP: 53219LAW9<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | DBT              | CORP              | US        |    573000 | PA      | $629672.57    | 0.38%             | 2030-10-15      | Fixed         | 11.00%                | Yes           |                  2 | On Loan: No      |
| Darling Ingredients, Inc.                                | Darling Ingredients, Inc.                                | CUSIP: 237266AJ0<br>LEI: L1N0SPPKS7EXZYUMZ898 | Long             | DBT              | CORP              | US        |    436000 | PA      | $436134.82    | 0.26%             | 2030-06-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| 1011778 BC ULC                                           | 1011778 BC ULC                                           | CUSIP: 68245XAR0<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    635000 | PA      | $647565.47    | 0.39%             | 2029-06-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Midcap Financial Issuer Trust                            | Midcap Financial Issuer Trust                            | CUSIP: 59567LAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    394000 | PA      | $383013.98    | 0.23%             | 2028-05-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Brightline East LLC                                      | Brightline East LLC                                      | CUSIP: 093536AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    653000 | PA      | $474208.60    | 0.28%             | 2030-01-31      | Fixed         | 11.00%                | Yes           |                  2 | On Loan: No      |
| Gray Media, Inc.                                         | Gray Media, Inc.                                         | CUSIP: 389286AA3<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |    770000 | PA      | $549697.38    | 0.33%             | 2031-11-15      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Celanese US Holdings LLC                                 | Celanese US Holdings LLC                                 | CUSIP: 15089QBA1<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |   1190000 | PA      | $1158203.32   | 0.69%             | 2033-04-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: —       |
| US Acute Care Solutions LLC                              | US Acute Care Solutions LLC                              | CUSIP: 90367UAD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    513000 | PA      | $521155.67    | 0.31%             | 2029-05-15      | Fixed         | 9.75%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                      | U.S. Treasury 10 Year Note                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |      -175 | NC      | $-28170.76    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Repurchase Agreement                                     | Repurchase Agreement                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | RA               | CORP              | US        |   1081801 | PA      | $1081800.56   | 0.65%             |  |  |  | No            |                  2 | On Loan: No      |
| Cloud Software Group, Inc.                               | Cloud Software Group, Inc.                               | CUSIP: 18912UAA0<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |   1170000 | PA      | $1197351.09   | 0.72%             | 2029-09-30      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| Connect Finco SARL                                       | Connect Finco SARL                                       | CUSIP: 20752TAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    976000 | PA      | $930124.19    | 0.56%             | 2029-09-15      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| Smyrna Ready Mix Concrete LLC                            | Smyrna Ready Mix Concrete LLC                            | CUSIP: 83283WAE3<br>LEI: 549300S7RFWHQFOIOY93 | Long             | DBT              | CORP              | US        |    628000 | PA      | $644665.86    | 0.39%             | 2031-11-15      | Fixed         | 8.88%                 | Yes           |                  2 | On Loan: No      |
| Repurchase Agreement                                     | Repurchase Agreement                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | RA               | CORP              | US        |    901500 | PA      | $901500.47    | 0.54%             |  |  |  | No            |                  2 | On Loan: No      |
| Sirius XM Radio LLC                                      | Sirius XM Radio LLC                                      | CUSIP: 82967NBM9<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |    285000 | PA      | $249110.66    | 0.15%             | 2031-09-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Newell Brands, Inc.                                      | Newell Brands, Inc.                                      | CUSIP: 651229BG0<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |    500000 | PA      | $517749.48    | 0.31%             | 2028-06-01      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| TEGNA, Inc.                                              | TEGNA, Inc.                                              | CUSIP: 87901JAH8<br>LEI: 549300YC5EDBGX85AO10 | Long             | DBT              | CORP              | US        |    609000 | PA      | $579949.56    | 0.35%             | 2029-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Ardonagh Group Finance Ltd.                              | Ardonagh Group Finance Ltd.                              | CUSIP: 039956AA5<br>LEI: 254900SRT1BTAJ76NW62 | Long             | DBT              | CORP              | JE        |    789000 | PA      | $815305.26    | 0.49%             | 2032-02-15      | Fixed         | 8.88%                 | Yes           |                  2 | On Loan: No      |
| Aston Martin Capital Holdings Ltd.                       | Aston Martin Capital Holdings Ltd.                       | CUSIP: 04625HAJ8<br>LEI: 213800H4GKEF3CJ8C774 | Long             | DBT              | CORP              | JE        |    431000 | PA      | $403920.74    | 0.24%             | 2029-03-31      | Fixed         | 10.00%                | Yes           |                  2 | On Loan: No      |
| Ardagh Metal Packaging Finance USA LLC                   | Ardagh Metal Packaging Finance USA LLC                   | CUSIP: 03969YAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    424000 | PA      | $376092.41    | 0.22%             | 2029-09-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| H&E Equipment Services, Inc.                             | H&E Equipment Services, Inc.                             | CUSIP: 404030AJ7<br>LEI: 254900KVLRCDMQRYY541 | Long             | DBT              | CORP              | US        |    462000 | PA      | $465570.80    | 0.28%             | 2028-12-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Star Parent, Inc.                                        | Star Parent, Inc.                                        | CUSIP: 855170AA4<br>LEI: 254900GRGCJYRMDRWT73 | Long             | DBT              | CORP              | US        |    523000 | PA      | $540556.52    | 0.32%             | 2030-10-01      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| Level 3 Financing, Inc.                                  | Level 3 Financing, Inc.                                  | CUSIP: 527298BV4<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    736000 | PA      | $834865.58    | 0.50%             | 2029-11-15      | Fixed         | 11.00%                | Yes           |                  2 | On Loan: No      |
| SBA Communications Corp.                                 | SBA Communications Corp.                                 | CUSIP: 78410GAG9<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | DBT              | CORP              | US        |    665000 | PA      | $618558.26    | 0.37%             | 2029-02-01      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| KeHE Distributors LLC                                    | KeHE Distributors LLC                                    | CUSIP: 487526AC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    384000 | PA      | $400342.66    | 0.24%             | 2029-02-15      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| LCM Investments Holdings II LLC                          | LCM Investments Holdings II LLC                          | CUSIP: 50190EAA2<br>LEI: 549300P5V78NNQTG4428 | Long             | DBT              | CORP              | US        |    471000 | PA      | $453636.26    | 0.27%             | 2029-05-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Weatherford International Ltd.                           | Weatherford International Ltd.                           | CUSIP: 947075AU1<br>LEI: 549300A2JKMG5PGOGF82 | Long             | DBT              | CORP              | BM        |    738000 | PA      | $749596.19    | 0.45%             | 2030-04-30      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| CCO Holdings LLC                                         | CCO Holdings LLC                                         | CUSIP: 1248EPCN1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    378000 | PA      | $344059.46    | 0.21%             | 2032-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Aethon United BR LP                                      | Aethon United BR LP                                      | CUSIP: 00810GAD6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    383000 | PA      | $392342.90    | 0.23%             | 2029-10-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Brand Industrial Services, Inc.                          | Brand Industrial Services, Inc.                          | CUSIP: 104931AA8<br>LEI: 549300B658W2BPDQMW42 | Long             | DBT              | CORP              | US        |    563000 | PA      | $504753.15    | 0.30%             | 2030-08-01      | Fixed         | 10.38%                | Yes           |                  2 | On Loan: No      |
| Endo Finance Holdings, Inc.                              | Endo Finance Holdings, Inc.                              | CUSIP: 29281RAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    383000 | PA      | $396370.91    | 0.24%             | 2031-04-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| Alliant Holdings Intermediate LLC                        | Alliant Holdings Intermediate LLC                        | CUSIP: 01883LAF0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    799000 | PA      | $817240.37    | 0.49%             | 2031-01-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Organon & Co.                                            | Organon & Co.                                            | CUSIP: 68622TAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    894000 | PA      | $839441.15    | 0.50%             | 2028-04-30      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| Venture Global LNG, Inc.                                 | Venture Global LNG, Inc.                                 | CUSIP: 92332YAB7<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |   1382000 | PA      | $1402761.79   | 0.84%             | 2031-06-01      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| EMRLD Borrower LP                                        | EMRLD Borrower LP                                        | CUSIP: 29103CAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1290000 | PA      | $1303514.04   | 0.78%             | 2030-12-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Shift4 Payments LLC                                      | Shift4 Payments LLC                                      | CUSIP: 82453AAB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    815000 | PA      | $831531.32    | 0.50%             | 2032-08-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Hilcorp Energy I LP                                      | Hilcorp Energy I LP                                      | CUSIP: 431318BG8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    457000 | PA      | $423086.90    | 0.25%             | 2035-02-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| SCIH Salt Holdings, Inc.                                 | SCIH Salt Holdings, Inc.                                 | CUSIP: 78433BAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    443000 | PA      | $430168.11    | 0.26%             | 2028-05-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Sensata Technologies BV                                  | Sensata Technologies BV                                  | CUSIP: 81725WAK9<br>LEI: PUCKW5P5O3XMOZVH7T53 | Long             | DBT              | CORP              | NL        |    166000 | PA      | $155795.22    | 0.09%             | 2029-04-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Civitas Resources, Inc.                                  | Civitas Resources, Inc.                                  | CUSIP: 17888HAB9<br>LEI: IIVIHPH28S64K95M2381 | Long             | DBT              | CORP              | US        |    797000 | PA      | $780285.16    | 0.47%             | 2031-07-01      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| Permian Resources Operating LLC                          | Permian Resources Operating LLC                          | CUSIP: 71424VAA8<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |    450000 | PA      | $461593.80    | 0.28%             | 2032-01-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Quikrete Holdings, Inc.                                  | Quikrete Holdings, Inc.                                  | CUSIP: 74843PAB6<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1014819.00   | 0.61%             | 2033-03-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Allied Universal Holdco LLC                              | Allied Universal Holdco LLC                              | CUSIP: 019579AA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1223000 | PA      | $1170711.98   | 0.70%             | 2028-06-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Neptune Bidco US, Inc.                                   | Neptune Bidco US, Inc.                                   | CUSIP: 640695AA0<br>LEI: 549300VG15T3VCYZ4531 | Long             | DBT              | CORP              | US        |   1201000 | PA      | $1137707.30   | 0.68%             | 2029-04-15      | Fixed         | 9.29%                 | Yes           |                  2 | On Loan: No      |
| Carnival Corp.                                           | Carnival Corp.                                           | CUSIP: 143658BN1<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |   1765000 | PA      | $1770653.15   | 1.06%             | 2027-03-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| HUB International Ltd.                                   | HUB International Ltd.                                   | CUSIP: 44332PAH4<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |    464000 | PA      | $483104.27    | 0.29%             | 2030-06-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Univision Communications, Inc.                           | Univision Communications, Inc.                           | CUSIP: 914906AY8<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |    782000 | PA      | $782497.35    | 0.47%             | 2028-08-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| United Rentals North America, Inc.                       | United Rentals North America, Inc.                       | CUSIP: 911365BR4<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |    440000 | PA      | $445972.56    | 0.27%             | 2034-03-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| NRG Energy, Inc.                                         | NRG Energy, Inc.                                         | CUSIP: 629377CR1<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    384000 | PA      | $348156.10    | 0.21%             | 2031-02-15      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| EchoStar Corp.                                           | EchoStar Corp.                                           | CUSIP: 278768AC0<br>LEI: 549300EE20907QZ9GT38 | Long             | DBT              | CORP              | US        |    727000 | PA      | $730635.00    | 0.44%             | 2029-11-30      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| Hertz Corp. (The)                                        | Hertz Corp. (The)                                        | CUSIP: 428040DC0<br>LEI: 549300PD0C69OJ0NLB27 | Long             | DBT              | CORP              | US        |    865000 | PA      | $880593.36    | 0.53%             | 2029-07-15      | Fixed         | 12.62%                | Yes           |                  2 | On Loan: No      |
| Ball Corp.                                               | Ball Corp.                                               | CUSIP: 058498AZ9<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | DBT              | CORP              | US        |    610000 | PA      | $621959.66    | 0.37%             | 2029-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| UKG, Inc.                                                | UKG, Inc.                                                | CUSIP: 90279XAA0<br>LEI: 529900FKHWSTQ1GXK240 | Long             | DBT              | CORP              | US        |   1240000 | PA      | $1277689.80   | 0.76%             | 2031-02-01      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Tenneco, Inc.                                            | Tenneco, Inc.                                            | CUSIP: 880349AU9<br>LEI: 549300U0EXXFAQFAD785 | Long             | DBT              | CORP              | US        |    748000 | PA      | $736666.90    | 0.44%             | 2028-11-17      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Comstock Resources, Inc.                                 | Comstock Resources, Inc.                                 | CUSIP: 205768AS3<br>LEI: I03QQGEA4SS774AURI46 | Long             | DBT              | CORP              | US        |    529000 | PA      | $521351.35    | 0.31%             | 2029-03-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Performance Food Group, Inc.                             | Performance Food Group, Inc.                             | CUSIP: 71376LAF7<br>LEI: 549300OMUOGBYK0FFO76 | Long             | DBT              | CORP              | US        |     27000 | PA      | $27215.46     | 0.02%             | 2032-09-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| INVESCO GOVT AND AGCY LEX                                | INVESCO GOVERNMENT & AGENCY PORTFOLIO OPEN-END FUND USD  | CUSIP: 825252885<br>LEI: O37NHJVF7S22I1ONOU83 | Long             | STIV             | RF                | US        |   3045462 | NS      | $3045462.50   | 1.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Radiate Holdco LLC                                       | Radiate Holdco LLC                                       | CUSIP: 75026JAE0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    516000 | PA      | $339347.15    | 0.20%             | 2028-09-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Crescent Energy Finance LLC                              | Crescent Energy Finance LLC                              | CUSIP: 45344LAD5<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |    353000 | PA      | $332778.85    | 0.20%             | 2032-04-01      | Fixed         | 7.62%                 | Yes           |                  2 | On Loan: No      |
| Gray Media, Inc.                                         | Gray Media, Inc.                                         | CUSIP: 389375AM8<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |    467000 | PA      | $496691.43    | 0.30%             | 2029-07-15      | Fixed         | 10.50%                | Yes           |                  2 | On Loan: No      |
| Compass Group Diversified Holdings LLC                   | Compass Group Diversified Holdings LLC                   | CUSIP: 20451RAB8<br>LEI: 549300I6PTUQPX21TE93 | Long             | DBT              | CORP              | US        |    389000 | PA      | $337266.85    | 0.20%             | 2029-04-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Standard Industries, Inc.                                | Standard Industries, Inc.                                | CUSIP: 853496AH0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    502000 | PA      | $444135.66    | 0.27%             | 2031-01-15      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| Clydesdale Acquisition Holdings, Inc.                    | Clydesdale Acquisition Holdings, Inc.                    | CUSIP: 18972EAD7<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |    354000 | PA      | $357586.37    | 0.21%             | 2032-04-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Nexstar Media, Inc.                                      | Nexstar Media, Inc.                                      | CUSIP: 65336YAN3<br>LEI: 5493006PK6I4I2OOT688 | Long             | DBT              | CORP              | US        |    455000 | PA      | $437722.23    | 0.26%             | 2028-11-01      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: —       |
| Raven Acquisition Holdings LLC                           | Raven Acquisition Holdings LLC                           | CUSIP: 75420NAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    750000 | PA      | $746596.35    | 0.45%             | 2031-11-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| Carnival Corp.                                           | Carnival Corp.                                           | CUSIP: 143658BX9<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    287000 | PA      | $287772.60    | 0.17%             | 2033-02-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Clear Channel Outdoor Holdings, Inc.                     | Clear Channel Outdoor Holdings, Inc.                     | CUSIP: 18453HAD8<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |    847000 | PA      | $749213.34    | 0.45%             | 2029-06-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: —       |
| Vmed O2 UK Financing I plc                               | Vmed O2 UK Financing I plc                               | CUSIP: 92858RAB6<br>LEI: 213800MRR46ECNGZ7L69 | Long             | DBT              | CORP              | GB        |    630000 | PA      | $578682.72    | 0.35%             | 2031-07-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| PG&E Corp.                                               | PG&E Corp.                                               | CUSIP: 69331CAM0<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | DBT              | CORP              | US        |    916000 | PA      | $896961.03    | 0.54%             | 2055-03-15      | Variable      | 7.38%                 | No            |                  2 | On Loan: No      |
| Nationstar Mortgage Holdings, Inc.                       | Nationstar Mortgage Holdings, Inc.                       | CUSIP: 63861CAF6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      2000 | PA      | $2082.41      | 0.00%             | 2032-02-01      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| Jane Street Group                                        | Jane Street Group                                        | CUSIP: 47077WAD0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    495000 | PA      | $495745.47    | 0.30%             | 2032-11-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| TransDigm, Inc.                                          | TransDigm, Inc.                                          | CUSIP: 893647BU0<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |   1452000 | PA      | $1475630.27   | 0.88%             | 2029-03-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                      | U.S. Treasury 5 Year Note                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |      -818 | NC      | $-135888.18   | -0.08%            |  |  |  | No            |                  1 | On Loan: No      |
| Venture Global LNG, Inc.                                 | Venture Global LNG, Inc.                                 | CUSIP: 92332YAC5<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |   1030000 | PA      | $1101095.75   | 0.66%             | 2029-02-01      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| Stagwell Global LLC                                      | Stagwell Global LLC                                      | CUSIP: 59565JAA9<br>LEI: 984500904E015Z0C1F82 | Long             | DBT              | CORP              | US        |    492000 | PA      | $462563.69    | 0.28%             | 2029-08-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Alliant Holdings Intermediate LLC                        | Alliant Holdings Intermediate LLC                        | CUSIP: 01883LAE3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    247000 | PA      | $250423.42    | 0.15%             | 2028-04-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Olympus Water US Holding Corp.                           | Olympus Water US Holding Corp.                           | CUSIP: 25259KAA8<br>LEI: 549300YU2GGVCBN3MY89 | Long             | DBT              | CORP              | US        |    803000 | PA      | $841882.87    | 0.50%             | 2028-11-15      | Fixed         | 9.75%                 | Yes           |                  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        |    465000 | PA      | $459973.12    | 0.28%             | 2028-05-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                      | U.S. Treasury 2 Year Note                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |      -245 | NC      | $-34069.21    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Windstream Escrow LLC                                    | Windstream Escrow LLC                                    | CUSIP: 973CONAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       556 | PA      | $0.00         | 0.00%             | 2028-08-15      | Fixed         | 7.75%                 | No            |                  3 | On Loan: No      |
| Builders FirstSource, Inc.                               | Builders FirstSource, Inc.                               | CUSIP: 12008RAP2<br>LEI: 549300W0SKP6L3H7DP63 | Long             | DBT              | CORP              | US        |    133000 | PA      | $120657.87    | 0.07%             | 2032-02-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| VistaJet Malta Finance plc                               | VistaJet Malta Finance plc                               | CUSIP: 92840JAB5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    452000 | PA      | $405985.50    | 0.24%             | 2030-02-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: —       |
| NCL Corp. Ltd.                                           | NCL Corp. Ltd.                                           | CUSIP: 62886HBR1<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |    542000 | PA      | $542655.73    | 0.32%             | 2032-02-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Madison IAQ LLC                                          | Madison IAQ LLC                                          | CUSIP: 55760LAB3<br>LEI: 549300IXDNBXNHUPBU73 | Long             | DBT              | CORP              | US        |    532000 | PA      | $514727.56    | 0.31%             | 2029-06-30      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: —       |
| JetBlue Airways Corp.                                    | JetBlue Airways Corp.                                    | CUSIP: 476920AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    937000 | PA      | $925599.43    | 0.55%             | 2031-09-20      | Fixed         | 9.88%                 | Yes           |                  2 | On Loan: No      |
| Rogers Communications, Inc.                              | Rogers Communications, Inc., Series NC5                  | CUSIP: 775109DG3<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |   1023000 | PA      | $1030502.30   | 0.62%             | 2055-04-15      | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| Cleveland-Cliffs, Inc.                                   | Cleveland-Cliffs, Inc.                                   | CUSIP: 185899AP6<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |    659000 | PA      | $568573.56    | 0.34%             | 2032-03-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: —       |
| DaVita, Inc.                                             | DaVita, Inc.                                             | CUSIP: 23918KAS7<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |   1384000 | PA      | $1292987.05   | 0.77%             | 2030-06-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Uniti Group LP                                           | Uniti Group LP                                           | CUSIP: 91327BAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    995000 | PA      | $938094.57    | 0.56%             | 2029-02-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Iron Mountain, Inc.                                      | Iron Mountain, Inc.                                      | CUSIP: 46284VAJ0<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |   1211000 | PA      | $1181597.28   | 0.71%             | 2030-07-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| TEGNA, Inc.                                              | TEGNA, Inc.                                              | CUSIP: 87901JAJ4<br>LEI: 549300YC5EDBGX85AO10 | Long             | DBT              | CORP              | US        |    296000 | PA      | $285383.32    | 0.17%             | 2028-03-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Boost Newco Borrower LLC                                 | Boost Newco Borrower LLC                                 | CUSIP: 36268NAA8<br>LEI: 254900S8RE1OL7TTCU64 | Long             | DBT              | CORP              | US        |    853000 | PA      | $902624.98    | 0.54%             | 2031-01-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| CoreWeave, Inc.                                          | CoreWeave, Inc.                                          | CUSIP: 21873SAB4<br>LEI: 984500511DP2B6186053 | Long             | DBT              | CORP              | US        |    500000 | PA      | $499363.55    | 0.30%             | 2030-06-01      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| Alpha Generation LLC                                     | Alpha Generation LLC                                     | CUSIP: 02073LAA9<br>LEI: 254900K5V62L4YGVKF49 | Long             | DBT              | CORP              | US        |    485000 | PA      | $494493.88    | 0.30%             | 2032-10-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Fair Isaac Corp.                                         | Fair Isaac Corp.                                         | CUSIP: 303250AG9<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | DBT              | CORP              | US        |    500000 | PA      | $498108.39    | 0.30%             | 2033-05-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| 1011778 BC ULC                                           | 1011778 BC ULC                                           | CUSIP: 68245XAM1<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   1004000 | PA      | $922773.29    | 0.55%             | 2030-10-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Clear Channel Outdoor Holdings, Inc.                     | Clear Channel Outdoor Holdings, Inc.                     | CUSIP: 18453HAC0<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |    155000 | PA      | $141490.20    | 0.08%             | 2028-04-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Tenet Healthcare Corp.                                   | Tenet Healthcare Corp.                                   | CUSIP: 88033GDQ0<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |   1085000 | PA      | $1094742.22   | 0.65%             | 2030-06-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| MPH Acquisition Holdings LLC                             | MPH Acquisition Holdings LLC                             | CUSIP: 553283AD4<br>LEI: 5493002WXOPRPTXWTU06 | Long             | DBT              | CORP              | US        |    485000 | PA      | $377087.50    | 0.23%             | 2028-09-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Spirit AeroSystems, Inc.                                 | Spirit AeroSystems, Inc.                                 | CUSIP: 85205TAR1<br>LEI: ZD2NBKV6GCC3UMGBM518 | Long             | DBT              | CORP              | US        |    675000 | PA      | $745576.65    | 0.45%             | 2030-11-15      | Fixed         | 9.75%                 | Yes           |                  2 | On Loan: No      |
| Ryan Specialty LLC                                       | Ryan Specialty LLC                                       | CUSIP: 78351GAA3<br>LEI: 549300K52N7QBO3PYY45 | Long             | DBT              | CORP              | US        |    844000 | PA      | $838707.36    | 0.50%             | 2032-08-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Wynn Resorts Finance LLC                                 | Wynn Resorts Finance LLC                                 | CUSIP: 983133AC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    426000 | PA      | $446775.51    | 0.27%             | 2031-02-15      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| 1261229 BC Ltd.                                          | 1261229 BC Ltd.                                          | CUSIP: 68288AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   1280000 | PA      | $1267610.37   | 0.76%             | 2032-04-15      | Fixed         | 10.00%                | Yes           |                  2 | On Loan: No      |
| Rogers Communications, Inc.                              | Rogers Communications, Inc.                              | CUSIP: 775109DH1<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |    500000 | PA      | $500038.95    | 0.30%             | 2055-04-15      | Variable      | 7.12%                 | No            |                  2 | On Loan: No      |
| WESCO Distribution, Inc.                                 | WESCO Distribution, Inc.                                 | CUSIP: 95081QAP9<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |    614000 | PA      | $621238.45    | 0.37%             | 2028-06-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Fertitta Entertainment LLC                               | Fertitta Entertainment LLC                               | CUSIP: 31556TAC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    592000 | PA      | $537569.21    | 0.32%             | 2030-01-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: —       |
| Vistra Operations Co. LLC                                | Vistra Operations Co. LLC                                | CUSIP: 92840VAH5<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    550000 | PA      | $531596.51    | 0.32%             | 2029-05-01      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Tronox, Inc.                                             | Tronox, Inc.                                             | CUSIP: 897051AC2<br>LEI: 549300EPZ4YXC7E5P181 | Long             | DBT              | CORP              | US        |    572000 | PA      | $481297.48    | 0.29%             | 2029-03-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Block, Inc.                                              | Block, Inc.                                              | CUSIP: 852234AP8<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |     97000 | PA      | $87571.96     | 0.05%             | 2031-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Amentum Holdings, Inc.                                   | Amentum Holdings, Inc.                                   | CUSIP: 02352BAA3<br>LEI: 2549009FJIBLW40CU216 | Long             | DBT              | CORP              | US        |    529000 | PA      | $539699.55    | 0.32%             | 2032-08-01      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Acrisure LLC                                             | Acrisure LLC                                             | CUSIP: 00489LAL7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    489000 | PA      | $504549.74    | 0.30%             | 2030-11-06      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| NCR Atleos Corp.                                         | NCR Atleos Corp.                                         | CUSIP: 638962AA8<br>LEI: 9845005FC3S0VA714741 | Long             | DBT              | CORP              | US        |    770000 | PA      | $841077.93    | 0.50%             | 2029-04-01      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| Rocket Mortgage LLC                                      | Rocket Mortgage LLC                                      | CUSIP: 74841CAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1053000 | PA      | $952730.08    | 0.57%             | 2031-03-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| AthenaHealth Group, Inc.                                 | AthenaHealth Group, Inc.                                 | CUSIP: 60337JAA4<br>LEI: 254900AA3KZN4Q7A5Z33 | Long             | DBT              | CORP              | US        |   1173000 | PA      | $1130301.04   | 0.68%             | 2030-02-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| VZ Secured Financing BV                                  | VZ Secured Financing BV                                  | CUSIP: 91845AAA3<br>LEI: 549300MG611MYCOWY949 | Long             | DBT              | CORP              | NL        |    497000 | PA      | $429650.04    | 0.26%             | 2032-01-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| New Fortress Energy, Inc.                                | New Fortress Energy, Inc.                                | CUSIP: 644393AB6<br>LEI: 254900EICTYTCHA5X705 | Long             | DBT              | CORP              | US        |    199000 | PA      | $119145.28    | 0.07%             | 2026-09-30      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| United Rentals North America, Inc.                       | United Rentals North America, Inc.                       | CUSIP: 911363AM1<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |   1036000 | PA      | $955732.79    | 0.57%             | 2031-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Chart Industries, Inc.                                   | Chart Industries, Inc.                                   | CUSIP: 16115QAF7<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | DBT              | CORP              | US        |    646000 | PA      | $673544.89    | 0.40%             | 2030-01-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Medline Borrower LP                                      | Medline Borrower LP                                      | CUSIP: 62482BAB8<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |   2167000 | PA      | $2117598.94   | 1.27%             | 2029-10-01      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| First Quantum Minerals Ltd.                              | First Quantum Minerals Ltd.                              | CUSIP: 335934AV7<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |   1485000 | PA      | $1561303.76   | 0.93%             | 2029-03-01      | Fixed         | 9.38%                 | Yes           |                  2 | On Loan: No      |
| Repurchase Agreement                                     | Repurchase Agreement                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | RA               | CORP              | US        |    631050 | PA      | $631050.33    | 0.38%             |  |  |  | No            |                  2 | On Loan: No      |
| Veritiv Operating Co.                                    | Veritiv Operating Co.                                    | CUSIP: 92339LAA0<br>LEI: 5493004G8OK5L1UTIY12 | Long             | DBT              | CORP              | US        |    399000 | PA      | $424487.32    | 0.25%             | 2030-11-30      | Fixed         | 10.50%                | Yes           |                  2 | On Loan: No      |
| American Airlines, Inc.                                  | American Airlines, Inc.                                  | CUSIP: 00253XAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1440000 | PA      | $1415342.16   | 0.85%             | 2029-04-20      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| EquipmentShare.com, Inc.                                 | EquipmentShare.com, Inc.                                 | CUSIP: 29450YAA7<br>LEI: 254900PWJK48CGPKPI80 | Long             | DBT              | CORP              | US        |    441000 | PA      | $457714.78    | 0.27%             | 2028-05-15      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| ROBLOX Corp.                                             | ROBLOX Corp.                                             | CUSIP: 771049AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    851000 | PA      | $791443.70    | 0.47%             | 2030-05-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Organon & Co.                                            | Organon & Co.                                            | CUSIP: 68622TAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    936000 | PA      | $787535.33    | 0.47%             | 2031-04-30      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Churchill Downs, Inc.                                    | Churchill Downs, Inc.                                    | CUSIP: 12511VAA6<br>LEI: 529900FODTBQC8MIS994 | Long             | DBT              | CORP              | US        |    850000 | PA      | $837468.11    | 0.50%             | 2030-04-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Repurchase Agreement                                     | Repurchase Agreement                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | RA               | CORP              | US        |   1868449 | PA      | $1868449.06   | 1.12%             |  |  |  | No            |                  2 | On Loan: No      |
| GFL Environmental, Inc.                                  | GFL Environmental, Inc.                                  | CUSIP: 36168QAQ7<br>LEI: 549300FYK4MBXWIVZU26 | Long             | DBT              | CORP              | CA        |    500000 | PA      | $518643.71    | 0.31%             | 2031-01-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| HUB International Ltd.                                   | HUB International Ltd.                                   | CUSIP: 44332PAJ0<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |   1458000 | PA      | $1521567.34   | 0.91%             | 2032-01-31      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| Caesars Entertainment, Inc.                              | Caesars Entertainment, Inc.                              | CUSIP: 12769GAB6<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |    581000 | PA      | $596046.74    | 0.36%             | 2030-02-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| TransDigm, Inc.                                          | TransDigm, Inc.                                          | CUSIP: 893647BY2<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    500000 | PA      | $493447.13    | 0.30%             | 2033-05-31      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| NCL Corp. Ltd.                                           | NCL Corp. Ltd.                                           | CUSIP: 62886HBE0<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |    993000 | PA      | $993147.96    | 0.59%             | 2027-02-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| Civitas Resources, Inc.                                  | Civitas Resources, Inc.                                  | CUSIP: 17888HAA1<br>LEI: IIVIHPH28S64K95M2381 | Long             | DBT              | CORP              | US        |    376000 | PA      | $378732.02    | 0.23%             | 2028-07-01      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| Garda World Security Corp.                               | Garda World Security Corp.                               | CUSIP: 36485MAP4<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | DBT              | CORP              | CA        |    442000 | PA      | $443499.71    | 0.27%             | 2032-11-15      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-06-30

**Name of Applicant:** ProShares Trust

**Signature:** Maria Clem Sell

**Name of Signer:** Maria Clem Sell

**Title:** Treasurer