# EDGAR Filing Document

**Accession Number:** 0001562818
**File Stem:** 0001752724-23-071953
**Filing Date:** 2023-3
**Character Count:** 1079001
**Document Hash:** 71c952a0adb2d068eb1167fc83acb95e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-071953.hdr.sgml**: 20230329

**ACCESSION NUMBER**: 0001752724-23-071953

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230329

**DATE AS OF CHANGE**: 20230329

**PERIOD START**: 20231031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BlackRock Multi-Sector Income Trust
- **CENTRAL INDEX KEY:** 0001562818
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22774
- **FILM NUMBER:** 23774084

**BUSINESS ADDRESS:**
- **STREET 1:** 100 BELLEVUE PARKWAY
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19809-3700
- **BUSINESS PHONE:** 800-882-0052

**MAIL ADDRESS:**
- **STREET 1:** 100 BELLEVUE PARKWAY
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19809-3700

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BlackRock Fixed Income Strategic Opportunities
- **DATE OF NAME CHANGE:** 20121126

## Nport-Ex

---

| | |
|:---|:---|
| Schedule of Investments (unaudited)<br> January 31, 2023 | **BlackRock Multi-Sector Income Trust (BIT)**<br> **(Percentages shown are based on Net Assets)** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* |
|  **Asset-Backed Securities** |  |  |  |
|  Ajax Mortgage Loan Trust, Series 2017-D, Class B, 0.00%, 12/25/57<sup>(a)(b)(c)</sup> | USD | 20 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11979 |
|  Allegro CLO V Ltd., (3 mo. LIBOR US + 0.95%), 5.74%, 10/16/30<sup>(b)(c)</sup> |  | 491 | 485129 |
|  ALM Ltd., Series 2020-1A, Class D, (3 mo. LIBOR US + 6.00%), 10.79%, 10/15/29<sup>(b)(c)</sup> |  | 287 | 259774 |
|  American Homes 4 Rent Trust, Series 2014-SFR2, Class E, 6.23%, 10/17/36<sup>(c)</sup> |  | 2000 | 1962406 |
|  AMMC CLO 19 Ltd., Series 2016-1A, Class E, (3 mo. LIBOR US + 7.00%), 11.79%, 10/15/28<sup>(b)(c)</sup> |  | 1004 | 996251 |
|  Anchorage Capital CLO 5-R Ltd., Series 2014-5RA, Class E, (3 mo. LIBOR US + 5.40%), 10.19%, 01/15/30<sup>(b)(c)</sup> |  | 860 | 784747 |
|  Anchorage Capital CLO 7 Ltd., Series 2015-7A, Class D1R2, (3 mo. LIBOR US + 3.50%), 8.30%, 01/28/31<sup>(b)(c)</sup> |  | 250 | 224044 |
|  Apidos CLO XXVI, Series 2017-26A, Class A1AR, (3 mo. LIBOR US + 0.90%), 5.69%, 07/18/29<sup>(b)(c)</sup> |  | 460 | 456491 |
|  Apidos CLO XXVII, Series 2017-27A, Class A1R, (3 mo. LIBOR US + 0.93%), 5.72%, 07/17/30<sup>(b)(c)</sup> |  | 250 | 248045 |
|  Ares XL CLO Ltd., Series 2016-40A, Class A1RR, (3 mo. LIBOR US + 0.87%), 5.66%, 01/15/29<sup>(b)(c)</sup> |  | 955 | 947146 |
|  ARES XLVII CLO Ltd., 5.71%, 04/15/30<sup>(c)</sup> |  | 250 | 247522 |
|  Argent Securities Trust, Series 2006-W5, Class A1A, (1 mo. LIBOR US + 0.30%), 4.81%, 06/25/36<sup>(b)</sup> |  | 4236 | 2815095 |
|  Atrium XIII, Series 13A, Class A2, (3 mo. LIBOR US + 1.25%), 6.07%,<br>11/21/30<sup>(b)(c)</sup> |  | 250 | 242905 |
|  Bain Capital Credit CLO Ltd., Series 2020-2A, Class DR, (3 mo. LIBOR US + 3.30%), 8.10%, 07/19/34<sup>(b)(c)</sup> |  | 250 | 227513 |
|  Bear Stearns Asset-Backed Securities I Trust, Series 2006-HE9, Class 2A, (1 mo. LIBOR US + 0.14%), 4.65%, 11/25/36<sup>(b)</sup> |  | 1114 | 1076141 |
|  Benefit Street Partners CLO II Ltd., Series 2013-IIA, Class A1R2, (3 mo. LIBOR US + 0.87%), 5.66%, 07/15/29<sup>(b)(c)</sup> |  | 213 | 210317 |
|  Benefit Street Partners CLO XX Ltd., Series 2020-20A, Class CR, (3 mo. LIBOR US + 2.05%), 6.84%,<br>07/15/34<sup>(b)(c)</sup> |  | 250 | 232699 |
|  BlueMountain CLO Ltd., Series 2013-2A, Class A1R, (3 mo. LIBOR US + 1.18%), 6.00%, 10/22/30<sup>(b)(c)</sup> |  | 481 | 476625 |
|  Brookside Mill CLO Ltd., Series 2013-1A, Class DR, (3 mo. LIBOR US + 2.65%), 7.44%, 01/17/28<sup>(b)(c)</sup> |  | 250 | 241559 |
|  Carlyle Global Market Strategies CLO Ltd., Series 2015-1A, Class AR3, (3 mo. LIBOR US + 0.98%), 5.79%, 07/20/31<sup>(b)(c)</sup> |  | 1661 | 1644370 |
|  Carlyle U.S. CLO Ltd., Series 2018-4A, Class A2, (3 mo. LIBOR US + 1.80%), 6.61%, 01/20/31<sup>(b)(c)</sup> |  | 250 | 241334 |
|  Carrington Mortgage Loan Trust<sup>(b)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-FRE2, Class A2, (1 mo. LIBOR US + 0.12%), 4.63%, 10/25/36 |  | 2996 | 2320665 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-FRE2, Class A5, (1 mo. LIBOR US + 0.08%), 4.59%, 03/25/35 |  | 6172 | 4774155 |
|  CarVal CLO III Ltd., Series 2019-2A, Class E, (3 mo. LIBOR US + 6.44%), 11.25%, 07/20/32<sup>(b)(c)</sup> |  | 500 | 456963 |
|  CBAM Ltd., Series 2017-1A, Class A1, (3 mo. LIBOR US + 1.25%), 6.06%, 07/20/30<sup>(b)(c)</sup> |  | 1226 | 1218570 |
|  C-BASS Trust, Series 2006-CB7, Class A4, (1 mo. LIBOR US + 0.32%), 4.83%, 10/25/36<sup>(b)</sup> |  | 4251 | 2818732 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* |
|  **Asset-Backed Securities (continued)** | **Asset-Backed Securities (continued)** | **Asset-Backed Securities (continued)** |  |
|  CIFC Funding I Ltd., Series 2020-1A, Class DR, (3 mo. LIBOR US + 3.10%), 7.89%, 07/15/36<sup>(b)(c)</sup> | USD | 500 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;472883 |
|  CIFC Funding IV Ltd.<sup>(b)(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2013-4A, Class A1RR, (3 mo. LIBOR US + 1.06%), 5.87%, 04/27/31 |  | 250 | 248172 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-4A, Class A1R, (3 mo. LIBOR US + 0.95%), 5.77%, 10/24/30 |  | 484 | 480461 |
|  CIFC Funding Ltd.<sup>(b)(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Class 1A, (3 mo. LIBOR US + 1.70%), 6.52%, 10/21/31 |  | 750 | 731781 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2014-5A, Class A1R2, (3 mo. LIBOR US + 1.20%), 5.99%, 10/17/31 |  | 550 | 545380 |
|  CIFC Funding VII Ltd.<sup>(b)(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-7A, Class D, (3 mo. SOFR + 5.35%), 9.56%, 10/22/35 |  | 250 | 247836 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-7A, Class E, (3 mo. SOFR + 8.94%), 13.15%, 10/22/35 |  | 500 | 496252 |
|  Citigroup Mortgage Loan Trust, Series 2006-FX1, Class A7, 5.78%, 10/25/36 |  | 344 | 227169 |
|  Clear Creek CLO, Series 2015-1A, Class DR, (3 mo. LIBOR US + 2.95%), 7.76%, 10/20/30<sup>(b)(c)</sup> |  | 250 | 220423 |
|  Countrywide Asset-Backed Certificates Trust, Series 2006-26, Class 1A, (1 mo. LIBOR US + 0.14%), 4.65%, 06/25/37<sup>(b)</sup> |  | 536 | 493215 |
|  CWHEQ Revolving Home Equity Loan Trust, Series 2006-I, Class 1A, (1 mo. LIBOR US + 0.14%), 4.59%, 01/15/37<sup>(b)</sup> |  | 450 | 416270 |
|  Deer Creek CLO Ltd., Series 2017-1A, Class A, (3 mo. LIBOR US + 1.18%), 5.99%, 10/20/30<sup>(b)(c)</sup> |  | 468 | 463996 |
|  Dryden 106 CLO Ltd., (3 mo. SOFR + 8.87%), 13.43%, 10/15/35<sup>(b)(c)</sup> |  | 500 | 483284 |
|  Dryden 37 Senior Loan Fund, Series 2015-37A, Class AR, (3 mo. LIBOR US + 1.10%), 5.89%, 01/15/31<sup>(b)(c)</sup> |  | 250 | 248311 |
|  Dryden XXVI Senior Loan Fund, Series 2013-26A, Class AR, (3 mo. LIBOR US + 0.90%), 5.69%, 04/15/29<sup>(b)(c)</sup> |  | 438 | 434305 |
|  Elmwood CLO IV Ltd., Series 2020-1A, Class B, (3 mo. LIBOR US + 1.70%), 6.49%, 04/15/33<sup>(b)(c)</sup> |  | 250 | 245445 |
|  FirstKey Homes Trust, Series 2022-SFR1, Class E1, 5.00%, 05/17/39<sup>(c)</sup> |  | 3800 | 3350023 |
|  Fremont Home Loan Trust<sup>(b)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-A, Class 2A3, (1 mo. LIBOR US + 0.32%), 4.83%, 05/25/36 |  | 4174 | 2430614 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-D, Class 2A3, (1 mo. LIBOR US + 0.15%), 4.66%, 11/25/36 |  | 6328 | 2298663 |
|  Galaxy XXI CLO Ltd., Series 2015-21A, Class ER, (3 mo. LIBOR US + 5.25%), 10.06%, 04/20/31<sup>(b)(c)</sup> |  | 500 | 436404 |
|  Galaxy XXVI CLO Ltd., (3 mo. LIBOR US + 1.20%), 5.86%, 11/22/31<sup>(b)(c)</sup> |  | 250 | 246268 |
|  Galaxy XXVIII CLO Ltd., Series 2018-28A, Class A1, (3 mo. LIBOR US + 1.10%), 5.89%, 07/15/31<sup>(b)(c)</sup> |  | 500 | 492135 |
|  Generate CLO 2 Ltd., Series 2A, Class ER, (3 mo. LIBOR US + 5.65%), 10.47%, 01/22/31<sup>(b)(c)</sup> |  | 250 | 222459 |
|  Gilbert Park CLO Ltd., (3 mo. LIBOR US + 1.19%), 5.98%, 10/15/30<sup>(b)(c)</sup> |  | 500 | 492290 |
|  Goldentree Loan Management U.S. CLO 5 Ltd., Series 2019-5A, Class BR, (3 mo. LIBOR US + 1.55%), 6.36%,<br>10/20/32<sup>(b)(c)</sup> |  | 250 | 246018 |

---

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Multi-Sector Income Trust (BIT)**<br> **(Percentages shown are based on Net Assets)** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* |
|  **Asset-Backed Securities (continued)** | **Asset-Backed Securities (continued)** | **Asset-Backed Securities (continued)** | **Asset-Backed Securities (continued)** |
|  Goldentree Loan Opportunities X Ltd., Series 2015- 10A, Class AR, (3 mo. LIBOR US + 1.12%), 5.93%,<br>07/20/31<sup>(b)(c)</sup> | USD | 500 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;496320 |
|  Gulf Stream Meridian 1 Ltd., Series 2020-IA, Class E, (3 mo. LIBOR US + 6.45%), 11.24%, 04/15/33<sup>(b)(c)</sup> |  | 500 | 438914 |
|  Home Equity Mortgage Loan Asset-Backed Trust, Series 2006-E, Class 2A3, (1 mo. LIBOR US + 0.17%), 4.68%, 04/25/37<sup>(b)</sup> |  | 3460 | 2420792 |
|  HPS Loan Management Ltd., Series 8A-2016, Class ER, (3 mo. LIBOR US + 5.50%), 10.31%, 07/20/30<sup>(b)(c)</sup> |  | 1000 | 833740 |
|  Jay Park CLO Ltd., Series 2016-1A, Class CR, (3 mo. LIBOR US + 2.65%), 7.46%, 10/20/27<sup>(b)(c)</sup> |  | 250 | 239912 |
|  LCM XXI LP, Series 21A, Class AR, (3 mo. LIBOR US + 0.88%), 5.69%,<br>04/20/28<sup>(b)(c)</sup> |  | 85 | 85161 |
|  LCM XXIV Ltd., Series 24A, Class AR, (3 mo. LIBOR US + 0.98%), 5.79%, 03/20/30<sup>(b)(c)</sup> |  | 237 | 234956 |
|  Long Beach Mortgage Loan Trust, Series 2006-7, Class 2A3, (1 mo. LIBOR US + 0.32%), 4.83%, 08/25/36<sup>(b)</sup> |  | 5129 | 2165289 |
|  Madison Park Funding XLI Ltd., Series 12A, Class AR, (3 mo. LIBOR US + 0.83%), 5.65%, 04/22/27<sup>(b)(c)</sup> |  | 295 | 291481 |
|  Madison Park Funding XVII Ltd., Series 2015-17A, Class DR, (3 mo. LIBOR US + 3.60%), 8.42%, 07/21/30<sup>(b)(c)</sup> |  | 500 | 485508 |
|  Madison Park Funding XXIX Ltd.<sup>(b)(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-29A, Class D, (3 mo. LIBOR US + 3.00%), 7.79%, 10/18/30 |  | 565 | 545790 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-29A, Class E, (3 mo. LIBOR US + 5.70%), 10.49%, 10/18/30 |  | 500 | 458527 |
|  Madison Park Funding XXV Ltd., Series 2017-25A, Class A1R, (3 mo. LIBOR US + 0.97%), 5.79%, 04/25/29<sup>(b)(c)</sup> |  | 981 | 973915 |
|  Madison Park Funding XXVI Ltd., Series 2007-4A, Class DR, (3 mo. LIBOR US + 3.00%), 7.80%, 07/29/30<sup>(b)(c)</sup> |  | 250 | 239152 |
|  Madison Park Funding XXX Ltd., Series 2018-30A, Class A, (3 mo. LIBOR US + 0.75%), 5.54%, 04/15/29<sup>(b)(c)</sup> |  | 238 | 236173 |
|  Mastr Asset-Backed Securities Trust, Series 2006- HE2, Class A3, (1 mo. LIBOR US + 0.30%), 4.81%, 06/25/36<sup>(b)</sup> |  | 7205 | 2807832 |
|  Neuberger Berman CLO XV, Series 2013-15A, Class A1R2, (3 mo. LIBOR US + 0.92%), 5.71%, 10/15/29<sup>(b)(c)</sup> |  | 500 | 495407 |
|  Neuberger Berman CLO XX Ltd., Series 2015-20A, Class ERR, (3 mo. LIBOR US + 6.50%), 11.29%, 07/15/34<sup>(b)(c)</sup> |  | 710 | 657882 |
|  Neuberger Berman Loan Advisers CLO 26 Ltd., Series 2017-26A, Class AR, (3 mo. LIBOR US + 0.92%), 5.71%,<br>10/18/30<sup>(b)(c)</sup> |  | 250 | 247845 |
|  Neuberger Berman Loan Advisers CLO 37 Ltd., Series 2020-37A, Class CR, (3 mo. LIBOR US + 1.80%), 6.61%,<br>07/20/31<sup>(b)(c)</sup> |  | 400 | 383970 |
|  Neuberger Berman Loan Advisers CLO 46 Ltd., Series 2021- 46A, Class B, (3 mo. LIBOR US + 1.65%), 6.46%,<br>01/20/36<sup>(b)(c)</sup> |  | 250 | 244568 |
|  Neuberger Berman Loan Advisers NBLA CLO 52 Ltd.<sup>(b)(c)</sup> (3 mo. SOFR + 8.81%), 13.39%, 10/24/35<sup>(a)</sup> |  | 250 | 245000 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* |
|  **Asset-Backed Securities (continued)** | **Asset-Backed Securities (continued)** | **Asset-Backed Securities (continued)** | **Asset-Backed Securities (continued)** |
|  Neuberger Berman Loan Advisers NBLA CLO 52 Ltd.<sup>(b)(c)</sup> (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-52A, Class D, (3 mo. SOFR + 5.75%), 10.33%, 10/24/35 | USD | 550 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;545225 |
|  OCP CLO Ltd.<sup>(b)(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2017-13A, Class A1AR, (3 mo. LIBOR US + 0.96%), 5.75%, 07/15/30 |  | 590 | 582926 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-17A, Class A1R, (3 mo. LIBOR US + 1.04%), 5.85%, 07/20/32 |  | 500 | 494400 |
|  Octagon Investment Partners 31 Ltd., Series 2017-1A, Class E, (3 mo. LIBOR US + 6.30%), 11.11%, 07/20/30<sup>(b)(c)</sup> |  | 500 | 435368 |
|  Octagon Investment Partners 32 Ltd., Series 2017-1A, Class A1R, (3 mo. LIBOR US + 0.95%), 5.74%, 07/15/29<sup>(b)(c)</sup> |  | 240 | 238102 |
|  Octagon Investment Partners XIV Ltd., Series 2012- 1A, Class AARR, (3 mo. LIBOR US + 0.95%), 5.74%, 07/15/29<sup>(b)(c)</sup> |  | 479 | 475727 |
|  Octagon Investment Partners XV Ltd., Series 2013-1A, Class A1RR, (3 mo. LIBOR US + 0.97%), 5.77%, 07/19/30<sup>(b)(c)</sup> |  | 2687 | 2667614 |
|  Octagon Investment Partners XVII Ltd., Series 2013- 1A, Class BR2, (3 mo. LIBOR US + 1.40%), 6.22%, 01/25/31<sup>(b)(c)</sup> |  | 250 | 243691 |
|  Octagon Investment Partners XXI Ltd., Series 2014- 1A, Class AAR3, (3 mo. LIBOR US + 1.00%), 5.65%, 02/14/31<sup>(b)(c)</sup> |  | 500 | 494057 |
|  Octagon Investment Partners XXII Ltd., Series 2014- 1A, Class DRR, (3 mo. LIBOR US + 2.75%), 7.57%, 01/22/30<sup>(b)(c)</sup> |  | 500 | 461843 |
|  OZLM VII Ltd., Series 2014-7RA, Class A1R, (3 mo. LIBOR US + 1.01%), 5.80%, 07/17/29<sup>(b)(c)</sup> |  | 622 | 615198 |
|  OZLM VIII Ltd., Series 2014-8A, Class A1R3, (3 mo. LIBOR US + 0.98%), 5.77%, 10/17/29<sup>(b)(c)</sup> |  | 811 | 804104 |
|  OZLM XXI Ltd., Series 2017-21A, Class D, (3 mo. LIBOR US + 5.54%), 10.35%, 01/20/31<sup>(b)(c)</sup> |  | 250 | 208060 |
|  Palmer Square CLO Ltd., Series 2014-1A, Class A1R2, (3 mo. LIBOR US + 1.13%), 5.92%, 01/17/31<sup>(b)(c)</sup> |  | 250 | 248670 |
|  Palmer Square Loan Funding Ltd.<sup>(b)(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-1A, Class A1, (3 mo. LIBOR US + 0.80%), 5.48%, 02/20/28 |  | 137 | 136564 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1A, Class A1, (3 mo. LIBOR US + 0.90%), 5.71%, 04/20/29 |  | 268 | 265240 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-3A, Class A1, (3 mo. LIBOR US + 0.80%), 5.61%, 07/20/29 |  | 358 | 353673 |
|  Rad CLO 1 Ltd., Series 2018-1A, Class AR, (3 mo. LIBOR US + 0.98%), 5.77%, 07/15/31<sup>(b)(c)</sup> |  | 700 | 691633 |
|  Rad CLO 6 Ltd., Series 2019-6A, Class E, (3 mo. LIBOR US + 7.53%), 12.34%, 01/20/33<sup>(b)(c)</sup> |  | 500 | 459953 |
|  Rad CLO Ltd., Series 2022-17A, Class E, (3 mo. SOFR + 8.3%), 12.26%, 10/20/35<sup>(b)(c)</sup> |  | 250 | 236494 |
|  Regatta IX Funding Ltd., (3 mo. LIBOR US + 3.90%), 8.69%, 04/17/30<sup>(b)(c)</sup> |  | 250 | 243350 |
|  Regatta VIII Funding Ltd., Series 2017-1A, Class A, (3 mo. LIBOR US + 1.25%), 6.04%, 10/17/30<sup>(b)(c)</sup> |  | 432 | 430196 |
|  Regatta XI Funding Ltd., Series 2018-1A, Class A, (3 mo. LIBOR US + 1.07%), 5.86%, 07/17/31<sup>(b)(c)</sup> |  | 250 | 247838 |
|  Regional Management Issuance Trust, 3.88%, 10/17/33<sup>(a)(c)</sup> |  | 1110 | 951270 |

---

S C H E D U L E O F I N V E S T M E N T S 2

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Multi-Sector Income Trust (BIT)**<br> **(Percentages shown are based on Net Assets)** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)* | *Value* |
|  **Asset-Backed Securities (continued)** | **Asset-Backed Securities (continued)** | **Asset-Backed Securities (continued)** | **Asset-Backed Securities (continued)** |
|  Renaissance Home Equity Loan Trust, Series 2007-3, Class AF2, 7.00%, 09/25/37 | USD | 3580 | $1664352 |
|  Rockford Tower CLO Ltd., Series 2017-2A, Class DR, (3 mo. LIBOR US + 2.85%), 7.64%, 10/15/29<sup>(b)(c)</sup> |  | 500 | 472918 |
|  Saxon Asset Securities Trust, Series 2007-3, Class 2A3, (1 mo. LIBOR US + 0.40%), 4.91%, 09/25/47<sup>(b)</sup> |  | 3740 | 3417951 |
|  Scholar Funding Trust, Series 2013-A, Class R, 0.00%, 01/30/45<sup>(a)</sup> |  | — <sup>(d)</sup> | 774495 |
|  Southwick Park CLO LLC, Series 2019-4A, Class A1R, (3 mo. LIBOR US + 1.06%), 5.87%, 07/20/32<sup>(b)(c)</sup> |  | 250 | 247000 |
|  Stratus Static CLO Ltd., (3 mo. SOFR + 5.29%), 9.49%, 10/20/31<sup>(b)(c)</sup> |  | 500 | 495750 |
|  Symphony CLO XV Ltd., (3 mo. LIBOR US + 1.08%), 5.87%, 01/17/32<sup>(b)(c)</sup> |  | 500 | 494918 |
|  TCI-Symphony CLO Ltd., (3 mo. LIBOR US + 0.93%), 5.72%, 07/15/30<sup>(b)(c)</sup> |  | 1474 | 1439990 |
|  TICP CLO VIII Ltd., Series 2017-8A, Class A2R, (3 mo. LIBOR US + 1.70%), 6.51%, 10/20/34<sup>(b)(c)</sup> |  | 250 | 242925 |
|  Trestles CLO IV Ltd., (3 mo. LIBOR US + 1.70%), 6.52%, 07/21/34<sup>(b)(c)</sup> |  | 1000 | 971156 |
|  Trestles CLO Ltd., Series 2017-1A, Class CR, (3 mo. LIBOR US + 2.90%), 7.72%, 04/25/32<sup>(b)(c)</sup> |  | 250 | 230202 |
|  Trimaran CAVU Ltd.<sup>(b)(c)</sup> (3 mo. SOFR + 8.81%), 13.16%, 01/20/36 |  | 500 | 474023 |
|  Series 2022-2A, Class D, (3 mo. SOFR + 6.12%), 10.47%, 01/20/36 |  | 1100 | 1094651 |
|  Unique Pub Finance Co. PLC, Series N, 6.46%, 03/30/32<sup>(e)</sup> | GBP | 50 | 63540 |
|  Voya CLO Ltd., (3 mo. LIBOR US + 3.15%), 7.94%, 07/15/34<sup>(b)(c)</sup> | USD | 250 | 235190 |
|  Voya Ltd., (3 mo. LIBOR US + 1.00%), 5.08%, 10/15/30<sup>(b)(c)</sup> |  | 486 | 481960 |
|  WaMu Asset-Backed Certificates Trust, Series 2007- HE3, Class 2A3, (1 mo. LIBOR US + 0.24%), 4.75%, 05/25/37<sup>(b)</sup> |  | 5818 | 4791286 |
|  Whetstone Park CLO Ltd., Series 2021-1A, Classs 1A, (3 mo. LIBOR US + 1.60%), 6.41%, 01/20/35<sup>(b)(c)</sup> |  | 275 | 267464 |
|  York CLO 1 Ltd., Series 2014-1A, Class DRR, (3 mo. LIBOR US + 3.01%), 7.83%, 10/22/29<sup>(b)(c)</sup> |  | 250 | 242031 |
|  **Total Asset-Backed Securities — 15.4%<br>(Cost: $92,538,406)** |  |  | 88152366 |
|  |  | *Shares* |  |
|  **Common Stocks** |  |  |  |
|  **Aerospace & Defense — 0.4%** |  |  |  |
|  Raytheon Technologies Corp. |  | 25650 | 2561152 |
|  **Building Products — 0.2%** |  |  |  |
|  Carrier Global Corp. |  | 25650 | 1167845 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Shares* | *Value* |
|  **Machinery — 0.2%** |  |  |  |
|  Otis Worldwide Corp. |  | 12825 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1054600 |
|  **Total Common Stocks — 0.8%<br>(Cost: $2,968,841)** |  |  | 4783597 |
|  |  | *Par<br>(000)* |  |
|  **Corporate Bonds** |  |  |  |
|  **Aerospace & Defense — 3.4%** |  |  |  |
|  Amsted Industries, Inc., 5.63%, 07/01/27<sup>(c)</sup> | USD | 185 | 181805 |
|  Boeing Co., 5.15%, 05/01/30<sup>(f)</sup> |  | 1826 | 1840452 |
|  Bombardier, Inc.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 03/15/25 |  | 50 | 50063 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 06/15/26<sup>(f)</sup> |  | 907 | 904832 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 04/15/27<sup>(f)</sup> |  | 781 | 780335 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 02/15/28<sup>(f)</sup> |  | 683 | 647746 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 02/01/29 |  | 512 | 511503 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.45%, 05/01/34 |  | 286 | 289612 |
|  Embraer Netherlands Finance BV, 6.95%, 01/17/28<sup>(c)</sup> |  | 269 | 275187 |
|  F-Brasile SpA/F-Brasile U.S. LLC, Series XR, 7.38%, 08/15/26<sup>(c)</sup> |  | 464 | 380192 |
|  Howmet Aerospace, Inc., 5.13%, 10/01/24 |  | 2 | 1990 |
|  Lockheed Martin Corp., 4.09%, 09/15/52 |  | 451 | 413356 |
|  Northrop Grumman Corp., 3.85%, 04/15/45<sup>(f)</sup> |  | 530 | 452778 |
|  Raytheon Technologies Corp., 3.75%, 11/01/46<sup>(f)</sup> |  | 700 | 588536 |
|  Rolls-Royce PLC, 5.75%, 10/15/27<sup>(c)</sup> |  | 1545 | 1502513 |
|  Spirit AeroSystems, Inc.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 04/15/25 |  | 40 | 40138 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.38%, 11/30/29 |  | 605 | 657496 |
|  TransDigm, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 12/15/25<sup>(c)</sup> |  | 825 | 841162 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 03/15/26<sup>(c)(f)</sup> |  | 6944 | 6941554 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 06/15/26 |  | 58 | 57274 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 03/15/27 |  | 134 | 135043 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 01/15/29<sup>(f)</sup> |  | 715 | 645044 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 05/01/29<sup>(f)</sup> |  | 382 | 344681 |
|  Triumph Group, Inc., 8.88%, 06/01/24<sup>(c)</sup> |  | 1019 | 1034285 |
|  |  |  | 19517577 |
| **Airlines — 1.3%** |  |  |  |
|  Air Canada, 3.88%, 08/15/26<sup>(c)(f)</sup> |  | 495 | 457874 |
|  Allegiant Travel Co., 7.25%, 08/15/27<sup>(c)</sup> |  | 147 | 143709 |
|  American Airlines, Inc., 11.75%, 07/15/25<sup>(c)</sup> |  | 554 | 616632 |
|  American Airlines, Inc./AAdvantage Loyalty IP Ltd.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 04/20/26 |  | 267 | 261245 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 04/20/29 |  | 1343 | 1299027 |
|  Avianca Midco 2 PLC, 9.00%, 12/01/28<sup>(c)</sup> |  | 304 | 227947 |
|  Azul Investments LLP, 7.25%, 06/15/26<sup>(c)</sup> |  | 230 | 138618 |
|  Delta Air Lines, Inc./SkyMiles IP Ltd., 4.75%, 10/20/28<sup>(c)</sup> |  | 12 | 11575 |
|  Deutsche Lufthansa AG, 3.75%, 02/11/28<sup>(e)</sup> | EUR | 100 | 98501 |
|  Gol Finance SA, 8.00%, 06/30/26<sup>(c)</sup> | USD | 200 | 136850 |
|  Hawaiian Brand Intellectual Property Ltd./HawaiianMiles Loyalty Ltd., 5.75%, 01/20/26<sup>(c)(f)</sup> |  | 317 | 302732 |

---

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Multi-Sector Income Trust (BIT)**<br> **(Percentages shown are based on Net Assets)** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)* | *Value* |
|  **Airlines (continued)** |  |  |  |
|  Mileage Plus Holdings LLC/Mileage Plus Intellectual Property Assets Ltd., 6.50%, 06/20/27<sup>(c)(f)</sup> | USD | 1361 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1375373 |
|  United Airlines Pass-Through Trust |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-1, Class A, 5.88%, 04/15/29<sup>(f)</sup> |  | 681 | 689441 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-1, Class B, 4.88%, 07/15/27 |  | 43 | 42300 |
|  United Airlines, Inc.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 04/15/26<sup>(f)</sup> |  | 694 | 658838 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 04/15/29 |  | 877 | 799921 |
|  |  |  | 7260583 |
| **Auto Components — 1.0%** |  |  |  |
|  Aptiv PLC, 4.40%, 10/01/46<sup>(f)</sup> |  | 280 | 222388 |
|  Clarios Global LP/Clarios U.S. Finance<br>Co.<sup>(c)(f)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 05/15/26 |  | 1265 | 1256651 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 05/15/27 |  | 3592 | 3577675 |
|  Dealer Tire LLC/DT Issuer LLC, 8.00%, 02/01/28<sup>(c)</sup> |  | 231 | 212710 |
|  Faurecia SE<sup>(e)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 02/15/27 | EUR | 100 | 96235 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 06/15/28 |  | 100 | 95821 |
|  Goodyear Tire & Rubber Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 07/15/29 | USD | 132 | 116283 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 04/30/33 |  | 137 | 117135 |
|  IHO Verwaltungs GmbH, (4.63% PIK), 3.88%, 05/15/27<sup>(e)(g)</sup> | EUR | 100 | 95397 |
|  ZF Finance GmbH<sup>(e)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 09/21/25 |  | 100 | 103038 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 05/06/27 |  | 100 | 93090 |
|  |  |  | 5986423 |
| **Automobiles — 1.9%** |  |  |  |
|  Asbury Automotive Group, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 03/01/28 | USD | 168 | 151888 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 03/01/30 |  | 164 | 143460 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 02/15/32<sup>(c)</sup> |  | 201 | 173352 |
|  Constellation Automotive Financing PLC, 4.88%, 07/15/27<sup>(e)</sup> | GBP | 100 | 86238 |
|  Ford Motor Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 03/15/26<sup>(h)(i)</sup> | USD | 526 | 533890 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 02/12/32<sup>(f)</sup> |  | 797 | 632553 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.10%, 08/19/32<sup>(f)</sup> |  | 232 | 227651 |
|  Ford Motor Credit Co. LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 06/16/25<sup>(f)</sup> |  | 397 | 390199 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 11/13/25 |  | 200 | 186250 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.39%, 01/08/26<sup>(f)</sup> |  | 1250 | 1199787 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 08/10/26 |  | 376 | 335580 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 05/28/27<sup>(f)</sup> |  | 519 | 495265 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 08/17/27 |  | 320 | 295130 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.82%, 11/02/27 |  | 400 | 361000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 02/16/28<sup>(f)</sup> |  | 376 | 323396 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.11%, 05/03/29 |  | 214 | 202809 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.35%, 03/06/30 |  | 400 | 419840 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 06/17/31 |  | 617 | 513196 |
|  General Motors Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 10/15/32 |  | 127 | 125464 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 10/02/43<sup>(f)</sup> |  | 2194 | 2183254 |
|  General Motors Financial Co., Inc., 4.25%, 05/15/23<sup>(f)</sup> . |  | 326 | 325337 |
|  Group 1 Automotive, Inc., 4.00%, 08/15/28<sup>(c)</sup> |  | 59 | 51888 |
|  Ken Garff Automotive LLC, 4.88%, 09/15/28<sup>(c)</sup> |  | 156 | 134355 |
|  LCM Investments Holdings II LLC, 4.88%, 05/01/29<sup>(c)</sup> . |  | 373 | 307818 |
|  Lithia Motors, Inc., 3.88%, 06/01/29<sup>(c)</sup> |  | 167 | 141897 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* |
|  **Automobiles (continued)** |  |  |  |
|  MajorDrive Holdings IV LLC, 6.38%, 06/01/29<sup>(c)</sup> | USD | 228 | $180154 |
|  Penske Automotive Group, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 09/01/25 |  | 104 | 98493 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 06/15/29<sup>(c)</sup> |  | 87 | 73570 |
|  Renault SA, 2.38%, 05/25/26<sup>(e)</sup> | EUR | 100 | 99820 |
|  TML Holdings Pte. Ltd., 4.35%, 06/09/26<sup>(e)</sup> | USD | 200 | 183350 |
|  Wabash National Corp., 4.50%, 10/15/28<sup>(c)</sup> |  | 281 | 246566 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10823450 |
| **Banks — 0.7%** |  |  |  |
|  Banco Bilbao Vizcaya Argentaria SA, (5 year USD Swap + 3.87%), 6.13%<sup>(b)(j)</sup> |  | 2000 | 1853714 |
|  Banco BPM SpA, (5 year EUR Swap + 3.17%), 2.88%, 06/29/31<sup>(b)(e)</sup> | EUR | 100 | 93223 |
|  Banco de Sabadell SA, (1 year EUR Swap + 2.40%), 5.25%, 02/07/29<sup>(k)</sup> |  | 100 | 108636 |
|  Bangkok Bank PCL, (5 year CMT + 4.73%), 5.00% | USD | 205 | 197056 |
|  Bank Leumi Le-Israel BM, (5 year CMT + 3.47%), 7.13%, 07/18/33<sup>(b)(c)(e)</sup> |  | 200 | 205500 |
|  Chong Hing Bank Ltd., (5 year CMT + 3.86%), 5.70%<sup>(b)(e)(j)</sup> |  | 250 | 244500 |
|  Grupo Aval Ltd., 4.38%, 02/04/30<sup>(c)</sup> |  | 512 | 421735 |
|  Intesa Sanpaolo SpA, 5.71%, 01/15/26<sup>(c)</sup> |  | 200 | 196532 |
|  Standard Chartered PLC, (5 year USD ICE Swap + 1.97%), 4.87%, 03/15/33<sup>(b)(c)</sup> |  | 500 | 458595 |
|  |  |  | 3779491 |
| **Beverages — 1.7%** |  |  |  |
|  Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc., 4.90%, 02/01/46<sup>(f)</sup> |  | 2160 | 2108336 |
|  ARD Finance SA, (6.50% Cash or 7.25% PIK), 6.50%, 06/30/27<sup>(c)(f)(g)</sup> |  | 865 | 678189 |
|  Ardagh Metal Packaging Finance USA LLC/Ardagh |  |  |  |
|  Metal Packaging Finance PLC<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 06/15/27<sup>(f)</sup> |  | 736 | 733939 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 09/01/28 |  | 200 | 175506 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 09/01/29<sup>(f)</sup> |  | 2668 | 2206062 |
|  Ball Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 07/01/25 |  | 44 | 43785 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 09/15/31<sup>(f)</sup> |  | 481 | 393294 |
|  Canpack SA/Canpack U.S. LLC, 3.13%, 11/01/25<sup>(c)</sup> |  | 211 | 190069 |
|  Crown Cork & Seal Co., Inc., 7.38%, 12/15/26 |  | 45 | 47006 |
|  OI European Group BV, 2.88%, 02/15/25<sup>(e)</sup> | EUR | 100 | 104603 |
|  Trivium Packaging Finance BV<sup>(c)(f)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 08/15/26 | USD | 1189 | 1141369 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 08/15/27 |  | 1924 | 1850388 |
|  |  |  | 9672546 |
| **Biotechnology — 0.2%** |  |  |  |
|  Amgen, Inc., 2.80%, 08/15/41<sup>(f)</sup> |  | 250 | 184134 |
|  Cidron Aida Finco SARL, 5.00%, 04/01/28<sup>(e)</sup> | EUR | 100 | 97718 |
|  Gilead Sciences, Inc., 4.75%, 03/01/46<sup>(f)</sup> | USD | 700 | 680386 |
|  |  |  | 962238 |
| **Building Materials<sup>(c)</sup> — 0.6%** |  |  |  |
|  Camelot Return Merger Sub, Inc., 8.75%, 08/01/28 |  | 269 | 252927 |
|  Jeld-Wen, Inc., 6.25%, 05/15/25 |  | 189 | 181071 |
|  Masonite International Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Class C, 5.38%, 02/01/28 |  | 161 | 150699 |
| &nbsp;&nbsp;&nbsp;&nbsp; Class C, 3.50%, 02/15/30 |  | 273 | 225342 |
|  New Enterprise Stone & Lime Co., Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 07/15/28 |  | 103 | 94817 |

---

S C H E D U L E O F I N V E S T M E N T S 4

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Multi-Sector Income Trust (BIT)**<br> **(Percentages shown are based on Net Assets)** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* |
|  **Building Materials (continued)** |  |  |  |
|  New Enterprise Stone & Lime Co., Inc. (continued) | New Enterprise Stone & Lime Co., Inc. (continued) | New Enterprise Stone & Lime Co., Inc. (continued) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.75%, 07/15/28 | USD | 48 | $45518 |
|  Smyrna Ready Mix Concrete LLC, 6.00%, 11/01/28 |  | 731 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;667417 |
|  Standard Industries, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 02/15/27 |  | 94 | 89078 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 01/15/28 |  | 115 | 107772 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 07/15/30 |  | 1082 | 924970 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 01/15/31 |  | 384 | 304980 |
|  Summit Materials LLC/Summit Materials Finance Corp., 5.25%, 01/15/29<sup>(f)</sup> |  | 227 | 213151 |
|  |  |  | 3257742 |
| **Building Products — 0.9%** |  |  |  |
|  Advanced Drainage Systems, Inc.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 09/30/27 |  | 259 | 246534 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 06/15/30 |  | 636 | 631921 |
|  Beacon Roofing Supply, Inc., 4.13%, 05/15/29<sup>(c)</sup> |  | 159 | 137071 |
|  Foundation Building Materials, Inc., 6.00%, 03/01/29<sup>(c)</sup>. |  | 139 | 111806 |
|  GYP Holdings III Corp., 4.63%, 05/01/29<sup>(c)</sup> |  | 300 | 252953 |
|  Lowe's Cos., Inc., 4.65%, 04/15/42<sup>(f)</sup> |  | 400 | 371121 |
|  Specialty Building Products Holdings LLC/SBP Finance Corp., 6.38%, 09/30/26<sup>(c)</sup> |  | 111 | 99853 |
|  SRS Distribution, Inc.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 07/01/28 |  | 661 | 603850 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 07/01/29<sup>(f)</sup> |  | 638 | 548623 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 12/01/29<sup>(f)</sup> |  | 503 | 429693 |
|  White Cap Buyer LLC, 6.88%, 10/15/28<sup>(c)(f)</sup> |  | 1491 | 1357143 |
|  White Cap Parent LLC, (8.25% PIK), 8.25%, 03/15/26<sup>(c)(g)</sup> |  | 324 | 295650 |
|  |  |  | 5086218 |
| **Capital Markets — 1.7%** |  |  |  |
|  Blackstone Holdings Finance Co. LLC, 5.90%, 11/03/27<sup>(c)</sup> |  | 823 | 856781 |
|  Blackstone Private Credit Fund |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.05%, 09/29/25<sup>(c)</sup> |  | 103 | 104439 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 03/15/27 |  | 97 | 84852 |
|  Charles Schwab Corp., Series H, (10 year CMT + 3.08%), 4.00%<sup>(b)(f)(j)</sup> |  | 1060 | 911865 |
|  Compass Group Diversified Holdings LLC, 5.25%, 04/15/29<sup>(c)</sup> |  | 273 | 245640 |
|  GLP Capital LP/GLP Financing II, Inc., 3.25%, 01/15/32 |  | 698 | 578725 |
|  Icahn Enterprises LP/Icahn Enterprises Finance Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 05/15/26 |  | 534 | 526794 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 05/15/27<sup>(f)</sup> |  | 842 | 783982 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 02/01/29 |  | 378 | 329167 |
|  Intercorp Peru Ltd., 3.88%, 08/15/29<sup>(c)</sup> |  | 270 | 226969 |
|  Kane Bidco Ltd., 6.50%, 02/15/27<sup>(e)</sup> | GBP | 100 | 107309 |
|  Morgan Stanley, (1 year CMT + 2.43%), 5.95%, 01/19/38 | USD | 125 | 127741 |
|  NFP Corp.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 08/15/28<sup>(f)</sup> |  | 1027 | 896294 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 08/15/28<sup>(f)</sup> |  | 2267 | 1960184 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 10/01/30 |  | 136 | 129619 |
|  Northern Trust Corp., 6.13%, 11/02/32<sup>(f)</sup> |  | 300 | 329846 |
|  Owl Rock Capital Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 07/22/25<sup>(f)</sup> |  | 238 | 223209 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 01/15/26 |  | 22 | 20723 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 07/15/26 |  | 83 | 74946 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* |
|  **Capital Markets (continued)** |  |  |  |
|  Owl Rock Core Income Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 09/23/26 | USD | 56 | $48848 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 09/16/27<sup>(c)(f)</sup> |  | 395 | 397987 |
|  Raymond James Financial, Inc., 4.95%, 07/15/46<sup>(f)</sup> |  | 400 | 385651 |
|  SURA Asset Management SA, 4.88%, 04/17/24<sup>(e)</sup> |  | 376 | 371605 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9723176 |
| **Chemicals — 2.0%** |  |  |  |
|  Alpek SAB de CV, 3.25%, 02/25/31<sup>(c)</sup> |  | 285 | 237405 |
|  Ashland LLC, 3.38%, 09/01/31<sup>(c)</sup> |  | 268 | 222440 |
|  Avient Corp., 7.13%, 08/01/30<sup>(c)</sup> |  | 214 | 215594 |
|  Axalta Coating Systems LLC, 3.38%, 02/15/29<sup>(c)</sup> |  | 245 | 210700 |
|  Axalta Coating Systems LLC/Axalta Coating Systems |  |  |  |
|  Dutch Holding B BV, 4.75%, 06/15/27<sup>(c)(f)</sup> |  | 600 | 567000 |
|  Braskem Idesa SAPI, 6.99%, 02/20/32<sup>(c)</sup> |  | 305 | 224358 |
|  Celanese U.S. Holdings LLC, 6.17%, 07/15/27<sup>(f)</sup> |  | 355 | 359583 |
|  Diamond BC BV, 4.63%, 10/01/29<sup>(c)</sup> |  | 729 | 613228 |
|  Element Solutions, Inc., 3.88%, 09/01/28<sup>(c)(f)</sup> |  | 1917 | 1696545 |
|  Equate Petrochemical BV |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 11/03/26<sup>(e)</sup> |  | 200 | 195220 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 04/28/28<sup>(c)</sup> |  | 200 | 177725 |
|  HB Fuller Co., 4.25%, 10/15/28 |  | 141 | 124785 |
|  Herens Holdco SARL, 4.75%, 05/15/28<sup>(c)</sup> |  | 671 | 546148 |
|  Herens Midco SARL, 5.25%, 05/15/29<sup>(e)</sup> | EUR | 100 | 73790 |
|  Illuminate Buyer LLC/Illuminate Holdings IV, Inc., 9.00%, 07/01/28<sup>(c)</sup> | USD | 443 | 395838 |
|  Ingevity Corp., 3.88%, 11/01/28<sup>(c)</sup> |  | 105 | 92031 |
|  Kobe U.S. Midco 2, Inc., (9.25% Cash or 10.00% PIK), 9.25%, 11/01/26<sup>(c)(g)</sup> |  | 332 | 252423 |
|  LSF11 A5 HoldCo LLC, 6.63%, 10/15/29<sup>(c)</sup> |  | 170 | 139501 |
|  Minerals Technologies, Inc., 5.00%, 07/01/28<sup>(c)</sup> |  | 218 | 199361 |
|  Monitchem HoldCo 3 SA, 5.25%, 03/15/25<sup>(e)</sup> | EUR | 100 | 105399 |
|  NOVA Chemicals Corp., 4.88%, 06/01/24<sup>(c)</sup> | USD | 80 | 78800 |
|  Sasol Financing USA LLC, 5.50%, 03/18/31 |  | 320 | 278368 |
|  SCIL IV LLC/SCIL USA Holdings LLC, 5.38%, 11/01/26<sup>(c)(f)</sup> |  | 305 | 279551 |
|  Scotts Miracle-Gro Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 04/01/31 |  | 220 | 178200 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 02/01/32 |  | 34 | 27714 |
|  Sherwin-Williams Co., 4.50%, 06/01/47<sup>(f)</sup> |  | 310 | 279573 |
|  SK Invictus Intermediate II SARL, 5.00%, 10/30/29<sup>(c)</sup> |  | 703 | 576460 |
|  WESCO Distribution, Inc.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 06/15/25 |  | 830 | 843280 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 06/15/28<sup>(f)</sup> |  | 573 | 587140 |
|  WR Grace Holdings LLC<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 10/01/24 |  | 300 | 298500 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 06/15/27 |  | 177 | 164221 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 08/15/29<sup>(f)</sup> |  | 1429 | 1191071 |
|  |  |  | 11431952 |
| **Commercial Services & Supplies — 1.3%** |  |  |  |
|  ADT Security Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 06/15/23 |  | 16 | 15922 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 08/01/29<sup>(c)</sup> |  | 35 | 31159 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 07/15/32<sup>(c)</sup> |  | 57 | 50865 |
|  Albion Financing 1 SARL/Aggreko Holdings, Inc., 6.13%, 10/15/26<sup>(c)</sup> |  | 222 | 199184 |
|  APX Group, Inc., 5.75%, 07/15/29<sup>(c)</sup> |  | 342 | 295852 |
|  Avis Budget Car Rental LLC/Avis Budget Finance, Inc., 5.38%, 03/01/29<sup>(c)(f)</sup> |  | 45 | 40230 |

---

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Multi-Sector Income Trust (BIT)**<br> **(Percentages shown are based on Net Assets)** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* |
|  **Commercial Services & Supplies (continued)** | **Commercial Services & Supplies (continued)** | **Commercial Services & Supplies (continued)** | **Commercial Services & Supplies (continued)** |
|  Cablevision Lightpath LLC, 3.88%, 09/15/27<sup>(c)</sup> | USD | 418 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;355292 |
|  Fortress Transportation & Infrastructure Investors LLC<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 10/01/25 |  | 112 | 108416 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 05/01/28<sup>(f)</sup> |  | 520 | 457620 |
|  Herc Holdings, Inc., 5.50%, 07/15/27<sup>(c)(f)</sup> |  | 428 | 409810 |
|  Hertz Corp.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 12/01/26 |  | 161 | 143290 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 12/01/29<sup>(f)</sup> |  | 130 | 106275 |
|  Loxam SAS, 4.50%, 02/15/27<sup>(e)</sup> | EUR | 101 | 103896 |
|  Metis Merger Sub LLC, 6.50%, 05/15/29<sup>(c)</sup> | USD | 158 | 134695 |
|  NESCO Holdings II, Inc., 5.50%, 04/15/29<sup>(c)</sup> |  | 305 | 273924 |
|  Prime Security Services Borrower LLC/Prime Finance, Inc.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 04/15/24 |  | 178 | 176164 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 04/15/26 |  | 626 | 613505 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 01/15/28<sup>(f)</sup> |  | 201 | 190628 |
|  Ritchie Bros Auctioneers, Inc., 5.38%, 01/15/25<sup>(c)(f)</sup> |  | 157 | 155067 |
|  Sotheby's/Bidfair Holdings, Inc., 5.88%, 06/01/29<sup>(c)</sup> |  | 690 | 590109 |
|  United Rentals North America, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 05/15/27 |  | 173 | 171919 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 12/15/29<sup>(c)(f)</sup> |  | 2090 | 2121350 |
|  Verisure Holding AB<sup>(e)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 02/15/27 | EUR | 100 | 95945 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.25%, 10/15/27 |  | 100 | 116332 |
|  Williams Scotsman International, Inc., 4.63%, 08/15/28<sup>(c)</sup> | USD | 316 | 292791 |
|  |  |  | 7250240 |
| **Communications Equipment — 0.5%** |  |  |  |
|  Ciena Corp., 4.00%, 01/31/30<sup>(c)</sup> |  | 133 | 116375 |
|  CommScope Technologies LLC, 6.00%, 06/15/25<sup>(c)(f)</sup> |  | 655 | 620305 |
|  CommScope, Inc.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 03/01/26 |  | 47 | 44996 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.25%, 03/01/27 |  | 222 | 188822 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 07/01/28<sup>(f)</sup> |  | 188 | 147270 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 09/01/29<sup>(f)</sup> |  | 604 | 502745 |
|  Nokia OYJ, 4.38%, 06/12/27 |  | 177 | 169920 |
|  Viasat, Inc.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 09/15/25 |  | 410 | 385400 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 04/15/27 |  | 87 | 81148 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 07/15/28 |  | 302 | 242361 |
|  Viavi Solutions, Inc., 3.75%, 10/01/29<sup>(c)</sup> |  | 454 | 396115 |
|  |  |  | 2895457 |
| **Construction Materials<sup>(c)</sup> — 0.1%** |  |  |  |
|  American Builders & Contractors Supply Co., Inc., 3.88%, 11/15/29 |  | 76 | 64790 |
|  BCPE Empire Holdings, Inc., 7.63%, 05/01/27 |  | 261 | 244500 |
|  H&E Equipment Services, Inc., 3.88%, 12/15/28 |  | 76 | 66885 |
|  Resideo Funding, Inc., 4.00%, 09/01/29 |  | 77 | 63858 |
|  |  |  | 440033 |
| **Consumer Discretionary — 1.6%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; APi Group DE, Inc.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 07/15/29 |  | 168 | 145429 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 10/15/29 |  | 128 | 114128 |
|  Carnival Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.13%, 02/01/26<sup>(e)</sup> | EUR | 100 | 113029 |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.50%, 02/01/26<sup>(c)</sup> | USD | 444 | 464384 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.63%, 03/01/26<sup>(c)</sup> |  | 91 | 82810 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* |
|  **Consumer Discretionary (continued)** |  |  |  |
|  Carnival Corp. (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 03/01/27<sup>(c)(f)</sup> | USD | 1132 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;939560 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.88%, 08/01/27<sup>(c)</sup> |  | 335 | 344212 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 08/01/28<sup>(c)</sup> |  | 600 | 518388 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 05/01/29<sup>(c)(f)</sup> |  | 610 | 481900 |
|  Carnival Holdings Bermuda Ltd., 10.38%, 05/01/28<sup>(c)(f)</sup> |  | 2061 | 2225880 |
|  CoreLogic, Inc., 4.50%, 05/01/28<sup>(c)</sup> |  | 657 | 522315 |
|  Legends Hospitality Holding Co. LLC/Legends Hospitality Co.-Issuer, Inc., 5.00%, 02/01/26<sup>(c)</sup> |  | 114 | 105044 |
|  Life Time, Inc.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 01/15/26 |  | 329 | 316176 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 04/15/26 |  | 312 | 303025 |
|  Lindblad Expeditions LLC, 6.75%, 02/15/27<sup>(c)</sup> |  | 389 | 381570 |
|  NCL Corp. Ltd.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 03/15/26 |  | 301 | 260359 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.38%, 02/01/28<sup>(k)</sup> |  | 173 | 175773 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 02/15/29 |  | 54 | 46436 |
|  NCL Finance Ltd., 6.13%, 03/15/28<sup>(c)</sup> |  | 333 | 270563 |
|  Royal Caribbean Cruises Ltd.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 11.50%, 06/01/25 |  | 154 | 165362 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 07/01/26 |  | 92 | 79810 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 08/31/26 |  | 116 | 103816 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 07/15/27 |  | 173 | 150490 |
| &nbsp;&nbsp;&nbsp;&nbsp; 11.63%, 08/15/27 |  | 229 | 243014 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 04/01/28 |  | 92 | 79120 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.25%, 01/15/29 |  | 251 | 259785 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.25%, 01/15/29<sup>(f)</sup> |  | 448 | 472582 |
|  Viking Ocean Cruises Ship VII Ltd., 5.63%, 02/15/29<sup>(c)</sup> |  | 72 | 61560 |
|  |  |  | 9426520 |
| **Consumer Finance — 2.0%** |  |  |  |
|  American Express Co., (5 year CMT + 2.85%), 3.55%<sup>(b)(f)(j)</sup> |  | 940 | 831712 |
| &nbsp;&nbsp;&nbsp;&nbsp; Block, Inc., 3.50%, 06/01/31<sup>(f)</sup> |  | 2304 | 1923876 |
|  Discover Financial Services, 6.70%, 11/29/32 |  | 115 | 122761 |
|  Global Payments, Inc.<sup>(f)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 08/15/29 |  | 736 | 653663 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 05/15/30 |  | 748 | 641967 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 08/15/32 |  | 317 | 318030 |
|  HealthEquity, Inc., 4.50%, 10/01/29<sup>(c)(f)</sup> |  | 819 | 733251 |
|  Iron Mountain U.K. PLC, 3.88%, 11/15/25<sup>(e)</sup> | GBP | 100 | 114976 |
|  Navient Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 09/25/23 | USD | 91 | 91958 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 03/25/24 |  | 105 | 104753 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 10/25/24 |  | 76 | 75167 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 03/15/29 |  | 268 | 237180 |
|  OneMain Finance Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 03/15/25 |  | 312 | 311020 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 03/15/26<sup>(f)</sup> |  | 422 | 419238 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 01/15/27 |  | 389 | 338320 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 01/15/28 |  | 285 | 277667 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 11/15/29 |  | 131 | 114704 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 09/15/30 |  | 141 | 112439 |
|  Sabre Global, Inc.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.25%, 04/15/25 |  | 229 | 234944 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 09/01/25 |  | 336 | 329571 |
| &nbsp;&nbsp;&nbsp;&nbsp; 11.25%, 12/15/27 |  | 164 | 173840 |
|  Shift4 Payments LLC/Shift4 Payments Finance Sub, Inc., 4.63%, 11/01/26<sup>(c)</sup> |  | 666 | 630729 |

---

S C H E D U L E O F I N V E S T M E N T S 6

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Multi-Sector Income Trust (BIT)**<br> **(Percentages shown are based on Net Assets)** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* |
|  **Consumer Finance (continued)** |  |  |  |
|  Shift4 Payments, Inc., 0.00%, 12/15/25<sup>(h)(i)</sup> | USD | 219 | $233782 |
|  SLM Corp., 3.13%, 11/02/26 |  | 221 | 195187 |
|  Verscend Escrow Corp., 9.75%,<br>08/15/26<sup>(c)(f)</sup> |  | 2007 | 2013979 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11234714 |
| **Containers & Packaging — 0.7%** |  |  |  |
|  Clydesdale Acquisition Holdings, Inc.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 04/15/29 |  | 718 | 705877 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.75%, 04/15/30 |  | 523 | 462218 |
|  Crown Americas LLC/Crown Americas Capital Corp. V, 4.25%, 09/30/26 |  | 74 | 70718 |
|  Crown Americas LLC/Crown Americas Capital Corp. VI, 4.75%, 02/01/26 |  | 258 | 252051 |
|  Graphic Packaging International LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 07/15/27<sup>(c)</sup> |  | 104 | 100100 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 03/15/28<sup>(c)</sup> |  | 11 | 9836 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 02/01/29<sup>(e)</sup> | EUR | 195 | 184279 |
|  Klabin Austria GmbH, 3.20%, 01/12/31<sup>(c)</sup> | USD | 315 | 256725 |
|  Kleopatra Finco SARL, 4.25%, 03/01/26<sup>(e)</sup> | EUR | 100 | 90943 |
|  LABL, Inc., 5.88%, 11/01/28<sup>(c)</sup> | USD | 332 | 300045 |
|  Mauser Packaging Solutions Holding Co.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 04/15/24 |  | 1030 | 1029279 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 08/15/26<sup>(k)</sup> |  | 230 | 232012 |
|  Sealed Air Corp.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 12/01/24 |  | 54 | 53595 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 12/01/27 |  | 92 | 85105 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 02/01/28 |  | 194 | 195727 |
|  |  |  | 4028510 |
| **Diversified Consumer Services — 1.9%** |  |  |  |
|  Allied Universal Holdco LLC/Allied Universal Finance Corp.<sup>(c)(f)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 07/15/26 |  | 2652 | 2553213 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.75%, 07/15/27 |  | 812 | 775460 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 06/01/29 |  | 1655 | 1331613 |
|  Allied Universal Holdco LLC/Allied Universal Finance |  |  |  |
|  Corp./Atlas Luxco 4 SARL, 4.63%, 06/01/28<sup>(c)</sup> |  | 1810 | 1557821 |
|  Clarivate Science Holdings Corp.<sup>(c)(f)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 07/01/28 |  | 1281 | 1143039 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 07/01/29 |  | 589 | 518276 |
|  Garda World Security Corp.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 02/15/27 |  | 183 | 166550 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 02/15/28 |  | 440 | 446050 |
|  Graham Holdings Co., 5.75%, 06/01/26<sup>(c)</sup> |  | 135 | 133313 |
|  Rekeep SpA, 7.25%, 02/01/26<sup>(e)</sup> | EUR | 100 | 92408 |
|  Service Corp. International |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 06/01/29 | USD | 107 | 102464 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 08/15/30 |  | 341 | 286556 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 05/15/31<sup>(f)</sup> |  | 454 | 397014 |
|  Sotheby's, 7.38%, 10/15/27<sup>(c)(f)</sup> |  | 1297 | 1245733 |
|  |  |  | 10749510 |
| **Diversified Financial Services — 1.7%** |  |  |  |
|  Acuris Finance U.S., Inc./Acuris Finance SARL, 5.00%, 05/01/28<sup>(c)</sup> |  | 514 | 419891 |
|  ASG Finance Designated Activity Co., 7.88%, 12/03/24<sup>(c)</sup> |  | 262 | 254140 |
|  Bank of America Corp., (1 day SOFR + 1.99%), 6.20%, 11/10/28<sup>(b)(f)</sup> |  | 454 | 478761 |
|  Barclays PLC, 5.20%, 05/12/26 |  | 200 | 199195 |
|  BNP Paribas SA, (5 year CMT + 3.34%), 4.63%<sup>(b)(c)(j)</sup> |  | 1750 | 1431515 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* |
|  **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** |  |
|  Central Garden & Pet Co., 5.13%, 02/01/28 | USD | 20 | $19050 |
|  Citigroup, Inc.<sup>(b)(j)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (5 year CMT + 3.42%), 3.88%<sup>(f)</sup> |  | 2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1825800 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series Y, (5 year CMT + 3.00%), 4.15% |  | 630 | 560700 |
|  Deutsche Bank AG, (5 year EURIBOR ICE Swap Rate + 3.30%), 4.00%,<br>06/24/32<sup>(b)(e)</sup> | EUR | 100 | 100356 |
|  Garfunkelux Holdco 3 SA, 7.75%, 11/01/25<sup>(e)</sup> | GBP | 100 | 93388 |
|  Global Aircraft Leasing Co. Ltd., (6.50% Cash or 7.25% PIK), 6.50%, 09/15/24<sup>(c)(g)</sup> | USD | 285 | 260647 |
|  Goldman Sachs Group, Inc., Series R, (5 year CMT + 3.22%), 4.95%<sup>(b)(f)(j)</sup> |  | 900 | 863601 |
|  HSBC Holdings PLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 11/23/26<sup>(f)</sup> |  | 370 | 364232 |
| &nbsp;&nbsp;&nbsp;&nbsp; (5 year CMT + 3.25%), 4.70%<sup>(b)(f)(j)</sup> |  | 465 | 394204 |
| &nbsp;&nbsp;&nbsp;&nbsp; (5 year CMT + 3.65%), 4.60%<sup>(b)(j)</sup> |  | 200 | 169550 |
| &nbsp;&nbsp;&nbsp;&nbsp; (1 day SOFR + 3.35%), 7.39%, 11/03/28<sup>(b)</sup> |  | 350 | 381539 |
|  ION Trading Technologies SARL, 5.75%, 05/15/28<sup>(c)</sup> |  | 246 | 210637 |
|  Jefferies Finance LLC/JFIN Co.-Issuer Corp., 5.00%, 08/15/28<sup>(c)</sup> |  | 415 | 351980 |
|  JPMorgan Chase & Co., (1 day SOFR + 2.58%), 5.72%, 09/14/33<sup>(b)(f)</sup> |  | 254 | 262060 |
|  Ladder Capital Finance Holdings LLLP/Ladder Capital |  |  |  |
|  Finance Corp.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 02/01/27 |  | 220 | 193875 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 06/15/29 |  | 85 | 70621 |
|  Lloyds Banking Group PLC, (5 year CMT + 4.82%), 6.75%<sup>(b)(j)</sup> |  | 515 | 502827 |
|  Spectrum Brands, Inc.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 10/01/29 |  | 106 | 93403 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 07/15/30 |  | 198 | 179849 |
|  UBS Group AG, (5 year CMT + 3.31%), 4.38%<sup>(b)(c)(j)</sup> |  | 210 | 172179 |
|  |  |  | 9854000 |
| **Diversified Telecommunication Services — 2.9%** | **Diversified Telecommunication Services — 2.9%** | **Diversified Telecommunication Services — 2.9%** |  |
|  AT&T, Inc.<sup>(f)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 06/01/44 |  | 111 | 101209 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 05/15/46 |  | 2545 | 2345823 |
|  Consolidated Communications, Inc., 6.50%, 10/01/28<sup>(c)</sup> |  | 861 | 701408 |
|  Level 3 Financing, Inc.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 03/01/27 |  | 573 | 495915 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 09/15/27 |  | 233 | 197376 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 07/01/28<sup>(f)</sup> |  | 941 | 745733 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 01/15/29 |  | 198 | 147312 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 07/15/29 |  | 221 | 161560 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 11/15/29 |  | 470 | 381132 |
|  Liberty Costa Rica Senior Secured Finance, 10.88%, 01/15/31<sup>(c)</sup> |  | 345 | 336030 |
|  Lumen Technologies, Inc.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 02/15/27 |  | 1298 | 1094542 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 01/15/29<sup>(f)</sup> |  | 833 | 560193 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 06/15/29 |  | 60 | 41563 |
|  Oi SA, (10.00% Cash or 8.00% Cash + 4.00% PIK), 10.00%, 07/27/25<sup>(g)</sup> |  | 383 | 38492 |
|  SoftBank Group Corp., 4.50%, 04/20/25<sup>(e)</sup> | EUR | 100 | 105448 |
|  Sprint Capital Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 11/15/28 | USD | 1886 | 2017712 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.75%, 03/15/32 |  | 1090 | 1346150 |
|  Telecom Italia Capital SA |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 11/15/33 |  | 191 | 162394 |

---

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Multi-Sector Income Trust (BIT)**<br> **(Percentages shown are based on Net Assets)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* | *Value* |
|  **Diversified Telecommunication Services (continued)** | **Diversified Telecommunication Services (continued)** | **Diversified Telecommunication Services (continued)** | **Diversified Telecommunication Services (continued)** | **Diversified Telecommunication Services (continued)** |
|  Telecom Italia Capital SA (continued) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 09/30/34<sup>(f)</sup> | USD | 569 | $| 456557 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.20%, 07/18/36 |  | 137 |  | 116387 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.72%, 06/04/38 |  | 71 |  | 61229 |
|  Telecom Italia SpA |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 05/30/24<sup>(c)</sup> |  | 202 |  | 195982 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 04/15/25<sup>(e)</sup> | EUR | 100 |  | 101649 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.63%, 01/18/29<sup>(e)</sup> |  | 100 |  | 82269 |
|  Verizon Communications, Inc.<sup>(f)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 08/10/33 | USD | 500 |  | 488835 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 03/22/61 |  | 1250 |  | 949539 |
|  Zayo Group Holdings, Inc.<sup>(c)(f)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 03/01/27 |  | 1899 |  | 1509895 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 03/01/28 |  | 2128 |  | 1463000 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16405334 |
| **Education — 0.0%** |  |  |  |  |
|  Grand Canyon University, 5.13%, 10/01/28 |  | 249 |  | 235701 |
| **Electric Utilities — 0.9%** |  |  |  |  |
|  Comision Federal de Electricidad, 4.88%, 01/15/24 |  | 323 |  | 320436 |
|  Duke Energy Corp., 4.80%, 12/15/45<sup>(f)</sup> |  | 1500 |  | 1411769 |
|  Edison International, 6.95%, 11/15/29 |  | 130 |  | 141139 |
|  Empresas Publicas de Medellin ESP, 4.25%, 07/18/29<sup>(c)</sup> |  | 309 |  | 253245 |
|  Enel Finance International NV, 3.63%, 05/25/27<sup>(c)(f)</sup> |  | 1250 |  | 1181285 |
|  FirstEnergy Corp., Series C, 3.40%, 03/01/50 |  | 575 |  | 408486 |
|  FirstEnergy Transmission LLC<sup>(c)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 07/15/44<sup>(f)</sup> |  | 497 |  | 490962 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 04/01/49 |  | 90 |  | 78264 |
|  NextEra Energy Operating Partners LP<sup>(c)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 07/15/24 |  | 205 |  | 200216 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 09/15/24 |  | 11 |  | 10257 |
|  Virginia Electric and Power Co., Series A, 6.00%, 05/15/37<sup>(f)</sup> |  | 750 |  | 821968 |
|  |  |  |  | 5318027 |
| **Electrical Equipment<sup>(c)</sup> — 0.4%** |  |  |  |  |
|  Gates Global LLC/Gates Corp., 6.25%, 01/15/26 |  | 572 |  | 563327 |
|  GrafTech Finance, Inc., 4.63%, 12/15/28 |  | 176 |  | 150001 |
|  Regal Rexnord Corp. |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.05%, 02/15/26 |  | 115 |  | 116866 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.05%, 04/15/28 |  | 795 |  | 807096 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.30%, 02/15/30 |  | 265 |  | 270211 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.40%, 04/15/33 |  | 385 |  | 394750 |
|  |  |  |  | 2302251 |
| **Electronic Equipment, Instruments & Components — 0.6%** | **Electronic Equipment, Instruments & Components — 0.6%** | **Electronic Equipment, Instruments & Components — 0.6%** | **Electronic Equipment, Instruments & Components — 0.6%** | **Electronic Equipment, Instruments & Components — 0.6%** |
|  BWX Technologies, Inc.<sup>(c)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 06/30/28 |  | 22 |  | 19855 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 04/15/29 |  | 265 |  | 237183 |
|  CDW LLC/CDW Finance Corp. |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.28%, 12/01/28 |  | 169 |  | 148523 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 02/15/29 |  | 351 |  | 304037 |
|  Corning, Inc., 4.38%, 11/15/57<sup>(f)</sup> |  | 1915 |  | 1648034 |
|  Imola Merger Corp., 4.75%, 05/15/29<sup>(c)</sup> |  | 683 |  | 594210 |
|  Vertiv Group Corp., 4.13%, 11/15/28<sup>(c)</sup> |  | 776 |  | 672901 |
|  |  |  |  | 3624743 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* | *Value* |
|  **Energy Equipment & Services — 0.5%** |  |  |  |  |
|  Archrock Partners LP/Archrock Partners Finance Corp.<sup>(c)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 04/01/27 | USD | 209 | $| 204820 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 04/01/28 |  | 1088 |  | 1033600 |
|  USA Compression Partners LP/USA Compression |  |  |  |  |
|  Finance Corp. |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 04/01/26 |  | 346 |  | 339582 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 09/01/27 |  | 657 |  | 637290 |
|  Vallourec SA, 8.50%, 06/30/26<sup>(e)</sup> | EUR | 32 |  | 35047 |
|  Weatherford International Ltd.<sup>(c)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 11.00%, 12/01/24 | USD | 9 |  | 9247 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 09/15/28 |  | 280 |  | 278600 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.63%, 04/30/30<sup>(f)</sup> |  | 408 |  | 411839 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2950025 |
| **Environmental, Maintenance & Security Service — 0.7%** | **Environmental, Maintenance & Security Service — 0.7%** | **Environmental, Maintenance & Security Service — 0.7%** | **Environmental, Maintenance & Security Service — 0.7%** | **Environmental, Maintenance & Security Service — 0.7%** |
|  Clean Harbors, Inc.<sup>(c)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 07/15/27 |  | 297 |  | 286540 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 07/15/29 |  | 149 |  | 143070 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 02/01/31 |  | 142 |  | 144655 |
|  Covanta Holding Corp. |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 12/01/29<sup>(c)</sup> |  | 181 |  | 158149 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 09/01/30 |  | 91 |  | 77424 |
|  GFL Environmental, Inc.<sup>(c)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 08/01/25 |  | 176 |  | 167244 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 12/15/26 |  | 496 |  | 482484 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 08/01/28<sup>(f)</sup> |  | 567 |  | 503354 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 09/01/28 |  | 121 |  | 107892 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 06/15/29 |  | 483 |  | 435927 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 08/15/29 |  | 403 |  | 357388 |
|  Stericycle, Inc., 3.88%, 01/15/29<sup>(c)</sup> |  | 210 |  | 186325 |
|  Tervita Corp., 11.00%, 12/01/25<sup>(c)</sup> |  | 147 |  | 159311 |
|  Waste Pro USA, Inc., 5.50%, 02/15/26<sup>(c)</sup> |  | 1043 |  | 969990 |
|  |  |  |  | 4179753 |
| **Equity Real Estate Investment Trusts (REITs) — 0.8%** | **Equity Real Estate Investment Trusts (REITs) — 0.8%** | **Equity Real Estate Investment Trusts (REITs) — 0.8%** | **Equity Real Estate Investment Trusts (REITs) — 0.8%** | **Equity Real Estate Investment Trusts (REITs) — 0.8%** |
|  American Tower Corp., 4.05%, 03/15/32<sup>(f)</sup> |  | 338 |  | 313178 |
|  Brookfield Property REIT, Inc./BPR Cumulus LLC/BPR Nimbus LLC/GGSI Sellco LLC, 4.50%, 04/01/27<sup>(c)</sup> |  | 227 |  | 199290 |
|  Emeria SASU, 7.75%, 03/31/28<sup>(k)</sup> | EUR | 100 |  | 108715 |
|  Global Net Lease, Inc./Global Net Lease Operating Partnership LP, 3.75%, 12/15/27<sup>(c)</sup> | USD | 183 |  | 154682 |
|  Iron Mountain, Inc.<sup>(c)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 07/15/28 |  | 40 |  | 36781 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 07/15/30 |  | 183 |  | 165604 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 07/15/32 |  | 166 |  | 149389 |
|  LMIRT Capital Pte. Ltd., 7.25%, 06/19/24<sup>(e)</sup> |  | 232 |  | 174000 |
|  MPT Operating Partnership LP/MPT Finance Corp.<sup>(f)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 08/01/29 |  | 410 |  | 318775 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 03/15/31 |  | 1712 |  | 1198414 |
|  RHP Hotel Properties LP/RHP Finance Corp. |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 10/15/27 |  | 583 |  | 546052 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 02/15/29<sup>(c)</sup> |  | 227 |  | 201758 |
|  RLJ Lodging Trust LP<sup>(c)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 07/01/26 |  | 173 |  | 158030 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 09/15/29 |  | 124 |  | 103999 |
|  Trust Fibra Uno, 5.25%, 01/30/26<sup>(c)</sup> |  | 235 |  | 228684 |
|  VICI Properties LP |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/15/28 |  | 56 |  | 54226 |

---

S C H E D U L E O F I N V E S T M E N T S 8

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Multi-Sector Income Trust (BIT)**<br> **(Percentages shown are based on Net Assets)** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* |
|  **Equity Real Estate Investment Trusts (REITs) (continued)** | **Equity Real Estate Investment Trusts (REITs) (continued)** | **Equity Real Estate Investment Trusts (REITs) (continued)** | **Equity Real Estate Investment Trusts (REITs) (continued)** |
|  VICI Properties LP (continued) 4.95%, 02/15/30 | USD | 254 | $245631 |
|  VICI Properties LP/VICI Note Co., Inc., 3.88%, 02/15/29<sup>(c)</sup> |  | 64 | 57655 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4414863 |
| **Food & Staples Retailing — 1.1%** |  |  |  |
|  Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 03/15/26 |  | 756 | 699270 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 03/15/26 |  | 127 | 130230 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 01/15/27 |  | 972 | 921505 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 02/15/28 |  | 377 | 368517 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 02/15/30<sup>(f)</sup> |  | 281 | 258474 |
|  Bellis Acquisition Co. PLC, 3.25%, 02/16/26<sup>(e)</sup> | GBP | 100 | 101402 |
|  BRF GmbH, 4.35%, 09/29/26<sup>(e)</sup> | USD | 200 | 182163 |
|  Darling Ingredients, Inc., 6.00%, 06/15/30<sup>(c)(f)</sup> |  | 557 | 554215 |
|  Kraft Heinz Foods Co.<sup>(f)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 10/01/49 |  | 84 | 78566 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 06/01/50 |  | 203 | 207181 |
|  Lamb Weston Holdings, Inc.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 05/15/28 |  | 373 | 360753 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 01/31/30 |  | 368 | 331660 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 01/31/32<sup>(f)</sup> |  | 477 | 427187 |
|  Ocado Group PLC, 3.88%, 10/08/26<sup>(e)</sup> | GBP | 100 | 96347 |
|  Performance Food Group, Inc., 4.25%, 08/01/29<sup>(c)</sup> | USD | 502 | 447909 |
|  Post Holdings, Inc.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 03/01/27 |  | 42 | 41373 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 12/15/29 |  | 190 | 176201 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 04/15/30<sup>(f)</sup> |  | 397 | 349360 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 09/15/31 |  | 14 | 12075 |
|  Premier Foods Finance PLC, 3.50%, 10/15/26<sup>(e)</sup> | GBP | 100 | 110323 |
|  U.S. Foods, Inc.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/15/29 | USD | 427 | 390617 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 06/01/30 |  | 51 | 45656 |
|  United Natural Foods, Inc., 6.75%, 10/15/28<sup>(c)</sup> |  | 44 | 42460 |
|  |  |  | 6333444 |
| **Food Products — 0.7%** |  |  |  |
|  Aramark Services, Inc.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 04/01/25 |  | 242 | 238370 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 05/01/25<sup>(f)</sup> |  | 105 | 105026 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 02/01/28<sup>(f)</sup> |  | 704 | 663520 |
|  Chobani LLC/Chobani Finance Corp., Inc.<sup>(c)</sup> | Chobani LLC/Chobani Finance Corp., Inc.<sup>(c)</sup> | Chobani LLC/Chobani Finance Corp., Inc.<sup>(c)</sup> |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 04/15/25<sup>(f)</sup> |  | 1097 | 1076080 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 11/15/28 |  | 846 | 771975 |
|  Grupo Bimbo SAB de C.V.<sup>(b)(j)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (5 year CMT + 3.28%), 5.95%<sup>(e)</sup> |  | 352 | 350178 |
| &nbsp;&nbsp;&nbsp;&nbsp; (5 year CMT + 3.28%), 5.95%<sup>(c)</sup> |  | 287 | 285515 |
|  JBS USA LUX SA/JBS USA Food Co./JBS USA Finance, Inc., 3.75%, 12/01/31<sup>(c)(f)</sup> | JBS USA LUX SA/JBS USA Food Co./JBS USA Finance, Inc., 3.75%, 12/01/31<sup>(c)(f)</sup> | 357 | 301586 |
|  Pilgrim's Pride Corp., 3.50%, 03/01/32<sup>(c)</sup> |  | 168 | 136903 |
|  Simmons Foods, Inc./Simmons Prepared Foods, Inc./Simmons Pet Food, Inc./Simmons Feed, 4.63%, 03/01/29<sup>(c)</sup> |  | 159 | 134806 |
|  |  |  | 4063959 |
| **Gas Utilities — 0.0%** |  |  |  |
|  Suburban Propane Partners LP/Suburban Energy Finance Corp., 5.00%, 06/01/31<sup>(c)</sup> |  | 117 | 101787 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* |
|  **Health Care Equipment & Supplies<sup>(c)</sup> — 0.2%** | **Health Care Equipment & Supplies<sup>(c)</sup> — 0.2%** | **Health Care Equipment & Supplies<sup>(c)</sup> — 0.2%** | **Health Care Equipment & Supplies<sup>(c)</sup> — 0.2%** |
|  Avantor Funding, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 07/15/28<sup>(f)</sup> | USD | 931 | $877551 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 11/01/29 |  | 219 | 192514 |
|  Embecta Corp., 6.75%, 02/15/30 |  | 95 | 85480 |
|  Garden Spinco Corp., 8.63%, 07/20/30 |  | 254 | 271781 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1427326 |
| **Health Care Providers & Services — 2.3%** |  |  |  |
|  Acadia Healthcare Co., Inc., 5.00%, 04/15/29<sup>(c)</sup> |  | 111 | 103796 |
|  AdaptHealth LLC<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 08/01/28 |  | 97 | 91762 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 03/01/30 |  | 34 | 30261 |
|  AHP Health Partners, Inc., 5.75%, 07/15/29<sup>(c)</sup> |  | 415 | 341415 |
|  Cano Health LLC, 6.25%, 10/01/28<sup>(c)</sup> |  | 100 | 63750 |
|  Centene Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 07/15/28<sup>(f)</sup> |  | 502 | 434857 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 10/15/30<sup>(f)</sup> |  | 770 | 658350 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 03/01/31<sup>(f)</sup> |  | 1268 | 1036618 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 08/01/31 |  | 344 | 281721 |
|  CHS/Community Health Systems, Inc.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 03/15/27 |  | 132 | 116846 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 01/15/29<sup>(f)</sup> |  | 653 | 573171 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 05/15/30 |  | 811 | 654412 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/15/31 |  | 416 | 318237 |
|  Elevance Health, Inc., 2.75%, 10/15/42<sup>(h)</sup> |  | 24 | 171046 |
|  Encompass Health Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 02/01/28 |  | 20 | 18669 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/01/30 |  | 603 | 552746 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 04/01/31 |  | 270 | 237653 |
|  Legacy LifePoint Health LLC, 4.38%, 02/15/27<sup>(c)</sup> |  | 192 | 168000 |
|  Medline Borrower LP<sup>(c)(f)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 04/01/29 |  | 623 | 532674 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 10/01/29 |  | 1344 | 1125311 |
|  Molina Healthcare, Inc.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 06/15/28<sup>(f)</sup> |  | 152 | 140380 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 11/15/30 |  | 321 | 276102 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 05/15/32<sup>(f)</sup> |  | 284 | 238100 |
|  Northwell Healthcare, Inc., 4.26%, 11/01/47<sup>(f)</sup> |  | 686 | 587850 |
|  Surgery Center Holdings, Inc.<sup>(c)(f)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 07/01/25 |  | 392 | 389256 |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.00%, 04/15/27 |  | 457 | 466132 |
|  Teleflex, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 11/15/27 |  | 100 | 95471 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 06/01/28<sup>(c)(f)</sup> |  | 278 | 256441 |
|  Tenet Healthcare Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 07/15/24 |  | 104 | 102570 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 09/01/24 |  | 433 | 426081 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 01/01/26 |  | 768 | 748009 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 02/01/27 |  | 231 | 225803 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 11/01/27<sup>(f)</sup> |  | 459 | 441787 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 10/01/28 |  | 235 | 219744 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 06/01/29 |  | 61 | 54315 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 06/15/30<sup>(c)(f)</sup> |  | 452 | 438761 |
|  UnitedHealth Group, Inc., 4.38%, 03/15/42<sup>(f)</sup> |  | 750 | 709361 |
|  |  |  | 13327458 |
| **Health Care Technology<sup>(c)</sup> — 0.6%** |  |  |  |
|  AthenaHealth Group, Inc., 6.50%, 02/15/30<sup>(f)</sup> |  | 1659 | 1374502 |
|  Catalent Pharma Solutions, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 07/15/27<sup>(f)</sup> |  | 341 | 322510 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 02/15/29 |  | 201 | 166275 |

---

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Multi-Sector Income Trust (BIT)**<br> **(Percentages shown are based on Net Assets)** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* |
|  **Health Care Technology (continued)** |  |  |  |
|  Catalent Pharma Solutions, Inc. (continued) | Catalent Pharma Solutions, Inc. (continued) | Catalent Pharma Solutions, Inc. (continued) | Catalent Pharma Solutions, Inc. (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 04/01/30 | USD | 479 | $395774 |
|  Charles River Laboratories International, Inc., 4.00%, 03/15/31 |  | 55 | 48523 |
|  IQVIA, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 10/15/26 |  | 548 | 534300 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 05/15/27<sup>(f)</sup> |  | 517 | 501702 |
|  Syneos Health, Inc., 3.63%, 01/15/29 |  | 68 | 54995 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3398581 |
| **Hotels, Restaurants & Leisure — 2.9%** |  |  |  |
|  Boyd Gaming Corp., 4.75%, 06/15/31<sup>(c)(f)</sup> |  | 495 | 445406 |
|  Boyne USA, Inc., 4.75%, 05/15/29<sup>(c)</sup> |  | 440 | 398677 |
|  Burger King (Restaurant Brands Int)/New Red Finance, Inc.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 01/15/28 |  | 557 | 509087 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 01/15/28<sup>(f)</sup> |  | 157 | 144473 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 10/15/30 |  | 207 | 176209 |
|  Caesars Entertainment, Inc.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 07/01/25<sup>(f)</sup> |  | 1300 | 1294992 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.13%, 07/01/27<sup>(f)</sup> |  | 2072 | 2103080 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 10/15/29 |  | 803 | 686565 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 02/15/30<sup>(k)</sup> |  | 1545 | 1572038 |
|  Caesars Resort Collection LLC/CRC Finco, Inc., 5.75%, 07/01/25<sup>(c)</sup> |  | 20 | 20003 |
|  CDI Escrow Issuer, Inc., 5.75%, 04/01/30<sup>(c)</sup> |  | 596 | 564710 |
|  Cedar Fair LP/Canada's Wonderland Co./Magnum Management Corp./Millennium Op, 5.50%, 05/01/25<sup>(c)</sup> |  | 559 | 554929 |
|  Champion Path Holdings Ltd., 4.50%, 01/27/26<sup>(e)</sup> |  | 250 | 225625 |
|  Churchill Downs, Inc.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 04/01/27 |  | 658 | 638159 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 01/15/28 |  | 434 | 406076 |
|  Fertitta Entertainment LLC/Fertitta Entertainment Finance Co., Inc.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 01/15/29 |  | 56 | 49424 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 01/15/30 |  | 82 | 68060 |
|  Fortune Star BVI Ltd., 6.75%, 07/02/23<sup>(e)</sup> |  | 200 | 194500 |
|  Hilton Domestic Operating Co., Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 05/01/29<sup>(c)</sup> |  | 186 | 165188 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 01/15/30 |  | 533 | 502470 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 05/01/31<sup>(c)</sup> |  | 423 | 366530 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 02/15/32<sup>(c)</sup> |  | 20 | 16795 |
|  Hilton Worldwide Finance LLC/Hilton Worldwide Finance Corp., 4.88%, 04/01/27 |  | 246 | 238164 |
|  Lottomatica SpA/Roma, 6.25%, 07/15/25<sup>(e)</sup> | EUR | 100 | 107628 |
|  Melco Resorts Finance Ltd., 5.25%, 04/26/26<sup>(e)</sup> | USD | 250 | 232500 |
|  Merlin Entertainments Ltd., 5.75%, 06/15/26<sup>(c)</sup> |  | 400 | 380842 |
|  MGM China Holdings Ltd., 5.88%, 05/15/26<sup>(e)</sup> |  | 250 | 236297 |
|  MGM Resorts International |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 03/15/23 |  | 494 | 493788 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 06/15/25 |  | 35 | 34558 |
|  Midwest Gaming Borrower LLC/Midwest Gaming Finance Corp., 4.88%, 05/01/29<sup>(c)</sup> |  | 301 | 263388 |
|  Motion Bondco DAC, 6.63%, 11/15/27<sup>(c)</sup> |  | 200 | 180996 |
|  Premier Entertainment Sub LLC/Premier |  |  |  |
|  Entertainment Finance Corp.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 09/01/29 |  | 148 | 106375 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 09/01/31 |  | 148 | 103283 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* | *Value* |
|  **Hotels, Restaurants & Leisure (continued)** | **Hotels, Restaurants & Leisure (continued)** | **Hotels, Restaurants & Leisure (continued)** | **Hotels, Restaurants & Leisure (continued)** | **Hotels, Restaurants & Leisure (continued)** |
|  Raptor Acquisition Corp./Raptor Co.-Issuer LLC, 4.88%, 11/01/26<sup>(c)</sup> | USD | 225 | $| 209250 |
|  Scientific Games International, Inc.<sup>(c)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 05/15/28<sup>(f)</sup> |  | 190 |  | 188099 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 11/15/29 |  | 213 |  | 213564 |
|  Station Casinos LLC, 4.63%, 12/01/31<sup>(c)</sup> |  | 354 |  | 298392 |
|  Stonegate Pub Co. Financing PLC, 8.25%, 07/31/25<sup>(e)</sup>. | GBP | 100 |  | 114208 |
|  Wyndham Hotels & Resorts, Inc., 4.38%, 08/15/28<sup>(c)</sup> | USD | 204 |  | 188150 |
|  Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp., 5.25%, 05/15/27<sup>(c)</sup> |  | 268 |  | 253174 |
|  Wynn Macau Ltd., 5.50%, 01/15/26<sup>(e)</sup> |  | 200 |  | 187000 |
|  Wynn Resorts Finance LLC/Wynn Resorts Capital Corp., 5.13%, 10/01/29<sup>(c)(f)</sup> |  | 968 |  | 863940 |
|  Yum! Brands, Inc. |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 11/01/23 |  | 110 |  | 108921 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 01/15/30<sup>(c)</sup> |  | 111 |  | 103813 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 03/15/31 |  | 123 |  | 104849 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 04/01/32 |  | 49 |  | 46490 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 11/01/43 |  | 85 |  | 72751 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16433416 |
| **Household Durables — 0.5%** |  |  |  |  |
|  Ashton Woods USA LLC/Ashton Woods Finance Co.<sup>(c)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 08/01/29 |  | 128 |  | 106880 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 04/01/30 |  | 185 |  | 153626 |
|  Brookfield Residential Properties, Inc./Brookfield Residential U.S. LLC<sup>(c)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 06/15/29 |  | 266 |  | 211244 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 02/15/30 |  | 476 |  | 368883 |
|  CD&R Smokey Buyer, Inc., 6.75%, 07/15/25<sup>(c)</sup> |  | 27 |  | 24503 |
|  K Hovnanian Enterprises, Inc., 7.75%, 02/15/26<sup>(c)</sup> |  | 284 |  | 275490 |
|  Mattamy Group Corp., 4.63%, 03/01/30<sup>(c)(f)</sup> |  | 257 |  | 216751 |
|  Meritage Homes Corp., 5.13%, 06/06/27 |  | 57 |  | 54577 |
|  NCR Corp.<sup>(c)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 09/01/27 |  | 259 |  | 251323 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 10/01/28 |  | 143 |  | 125963 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 04/15/29 |  | 197 |  | 171598 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 09/01/29 |  | 93 |  | 92070 |
|  SWF Escrow Issuer Corp., 6.50%, 10/01/29<sup>(c)(f)</sup> |  | 422 |  | 277431 |
|  Taylor Morrison Communities, Inc.<sup>(c)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 06/15/27 |  | 287 |  | 282107 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 08/01/30 |  | 75 |  | 68587 |
|  Tempur Sealy International, Inc.<sup>(c)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 04/15/29 |  | 261 |  | 227963 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 10/15/31 |  | 193 |  | 159015 |
|  |  |  |  | 3068011 |
| **Household Products — 0.1%** |  |  |  |  |
|  Central Garden & Pet Co. |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 10/15/30 |  | 244 |  | 207473 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 04/30/31<sup>(c)</sup> |  | 224 |  | 187904 |
|  |  |  |  | 395377 |
| **Independent Power and Renewable Electricity Producers — 0.8%** | **Independent Power and Renewable Electricity Producers — 0.8%** | **Independent Power and Renewable Electricity Producers — 0.8%** | **Independent Power and Renewable Electricity Producers — 0.8%** | **Independent Power and Renewable Electricity Producers — 0.8%** |
|  Azure Power Solar Energy Pvt Ltd., 5.65%, 12/24/24<sup>(e)</sup> |  | 200 |  | 167000 |
|  Calpine Corp.<sup>(c)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 06/01/26 |  | 195 |  | 188600 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 03/15/28<sup>(f)</sup> |  | 1281 |  | 1159831 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 02/01/29 |  | 145 |  | 126017 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 02/01/31 |  | 58 |  | 49701 |

---

S C H E D U L E O F I N V E S T M E N T S 10

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Multi-Sector Income Trust (BIT)**<br> **(Percentages shown are based on Net Assets)** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* |
|  **Independent Power and Renewable Electricity Producers (continued)** | **Independent Power and Renewable Electricity Producers (continued)** | **Independent Power and Renewable Electricity Producers (continued)** | **Independent Power and Renewable Electricity Producers (continued)** |
|  Clearway Energy Operating LLC<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 03/15/28<sup>(f)</sup> | USD | 116 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109411 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 01/15/32 |  | 335 | 276164 |
|  Greenko Mauritius Ltd., 6.25%, 02/21/23<sup>(e)</sup> |  | 200 | 199400 |
|  India Cleantech Energy, 4.70%, 08/10/26<sup>(c)</sup> |  | 237 | 209524 |
|  NRG Energy, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 01/15/27 |  | 958 | 953628 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 06/15/29<sup>(c)</sup> |  | 347 | 313168 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 02/15/31<sup>(c)</sup> |  | 365 | 289117 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 02/15/32<sup>(c)</sup> |  | 25 | 19460 |
|  SCC Power PLC<sup>(c)(g)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (4% PIK), 4.00%, 05/17/32 |  | 359 | 14372 |
| &nbsp;&nbsp;&nbsp;&nbsp; (8.00% Cash or 4.00% Cash + 4.00% PIK), 8.00%, 12/31/28 |  | 663 | 218691 |
|  TerraForm Power Operating LLC, 4.75%, 01/15/30<sup>(c)</sup> |  | 179 | 161097 |
|  |  |  | 4455181 |
| **Insurance — 2.2%** |  |  |  |
|  Acrisure LLC/Acrisure Finance, Inc., 6.00%, 08/01/29<sup>(c)</sup> |  | 295 | 243375 |
|  Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer<sup>(c)(f)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 10/15/27 |  | 2228 | 2041862 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 10/15/27 |  | 2012 | 1881884 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 11/01/29 |  | 1984 | 1728501 |
|  Allstate Corp., Series B, (3 mo. LIBOR US + 2.94%), 5.75%, 08/15/53<sup>(b)(f)</sup> |  | 2000 | 1970900 |
|  AmWINS Group, Inc., 4.88%, 06/30/29<sup>(c)</sup> |  | 366 | 321042 |
|  Berkshire Hathaway Finance Corp., 4.40%, 05/15/42<sup>(f)</sup>. |  | 250 | 245626 |
|  GTCR AP Finance, Inc., 8.00%, 05/15/27<sup>(c)</sup> |  | 351 | 344650 |
|  HUB International Ltd.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 05/01/26 |  | 1392 | 1378122 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 12/01/29 |  | 67 | 59956 |
|  Jones Deslauriers Insurance Management, Inc., 10.50%, 12/15/30<sup>(c)</sup> |  | 350 | 355320 |
|  Liberty Mutual Group, Inc., (5 year EUR Swap + 3.70%), 3.63%, 05/23/59<sup>(b)(e)</sup> | EUR | 100 | 100838 |
|  Ryan Specialty Group LLC, 4.38%, 02/01/30<sup>(c)</sup> | USD | 173 | 155916 |
|  Teachers Insurance & Annuity Association of America, 4.27%, 05/15/47<sup>(c)(f)</sup> |  | 700 | 629580 |
|  Voya Financial, Inc., (3 mo. LIBOR US + 3.58%), 5.65%, 05/15/53<sup>(b)(f)</sup> |  | 1090 | 1085095 |
|  |  |  | 12542667 |
| **Interactive Media & Services — 0.2%** |  |  |  |
|  Arches Buyer, Inc., 4.25%, 06/01/28<sup>(c)</sup> |  | 143 | 120120 |
|  Cablevision Lightpath LLC, 5.63%, 09/15/28<sup>(c)</sup> |  | 401 | 307767 |
|  iliad SA, 5.38%, 06/14/27<sup>(e)</sup> | EUR | 100 | 108715 |
|  Netflix, Inc., 3.63%, 06/15/30<sup>(e)</sup> |  | 100 | 103921 |
|  Northwest Fiber LLC/Northwest Fiber Finance Sub, Inc.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 04/30/27 | USD | 387 | 351230 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 02/15/28 |  | 277 | 228672 |
|  United Group BV, 4.88%, 07/01/24<sup>(e)</sup> | EUR | 100 | 104919 |
|  |  |  | 1325344 |
| **Internet Software & Services — 1.2%** |  |  |  |
|  ANGI Group LLC, 3.88%, 08/15/28<sup>(c)</sup> | USD | 340 | 260620 |
|  Booking Holdings, Inc., 0.75%,<br>05/01/25<sup>(f)(h)</sup> |  | 63 | 89700 |
|  Gen Digital, Inc., 7.13%, 09/30/30<sup>(c)</sup> |  | 301 | 305605 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* |
|  **Internet Software & Services (continued)** |  |  |  |
|  Go Daddy Operating Co. LLC/GD Finance Co., Inc.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 12/01/27 | USD | 359 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;347433 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 03/01/29 |  | 261 | 225713 |
|  Match Group Holdings II LLC<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 02/15/29 |  | 209 | 196482 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 08/01/30 |  | 262 | 225320 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 10/01/31 |  | 635 | 509588 |
|  Uber Technologies, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 12/15/25<sup>(f)(h)(i)</sup> |  | 1537 | 1350633 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 11/01/26<sup>(c)</sup> |  | 983 | 1006238 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 09/15/27<sup>(c)(f)</sup> |  | 1157 | 1174783 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 01/15/28<sup>(c)</sup> |  | 366 | 358119 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 08/15/29<sup>(c)(f)</sup> |  | 858 | 763888 |
|  |  |  | 6814122 |
| **IT Services — 1.1%** |  |  |  |
|  Ahead DB Holdings LLC, 6.63%, 05/01/28<sup>(c)</sup> |  | 190 | 160550 |
|  Booz Allen Hamilton, Inc.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 09/01/28<sup>(f)</sup> |  | 352 | 318465 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 07/01/29 |  | 503 | 450814 |
|  CA Magnum Holdings, 5.38%, 10/31/26<sup>(c)</sup> |  | 488 | 448960 |
|  Camelot Finance SA, 4.50%, 11/01/26<sup>(c)</sup> |  | 524 | 498392 |
|  Dun & Bradstreet Corp., 5.00%, 12/15/29<sup>(c)</sup> |  | 642 | 568492 |
|  Fair Isaac Corp., 4.00%, 06/15/28<sup>(c)</sup> |  | 459 | 426184 |
|  Gartner, Inc.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 07/01/28 |  | 15 | 14250 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 06/15/29 |  | 70 | 62860 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 10/01/30<sup>(f)</sup> |  | 268 | 237515 |
| &nbsp;&nbsp;&nbsp;&nbsp; KBR, Inc., 4.75%, 09/30/28<sup>(c)</sup> |  | 268 | 241962 |
|  La Financiere Atalian SASU, 5.13%, 05/15/25<sup>(e)</sup> | EUR | 100 | 72622 |
|  McAfee Corp., 7.38%, 02/15/30<sup>(c)</sup> | USD | 1084 | 900367 |
|  Science Applications International Corp., 4.88%, 04/01/28<sup>(c)</sup> |  | 377 | 353437 |
|  Twilio, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 03/15/29 |  | 61 | 51792 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 03/15/31 |  | 645 | 532436 |
|  ZoomInfo Technologies LLC/ZoomInfo Finance Corp., 3.88%, 02/01/29<sup>(c)(f)</sup> |  | 1130 | 974625 |
|  |  |  | 6313723 |
| **Leisure Products — 0.1%** |  |  |  |
|  Mattel, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 04/01/29<sup>(c)</sup> |  | 74 | 66482 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.20%, 10/01/40 |  | 291 | 270193 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 11/01/41 |  | 326 | 279009 |
|  |  |  | 615684 |
| **Machinery — 1.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; ATS Corp., 4.13%, 12/15/28<sup>(c)</sup> |  | 139 | 124520 |
|  Chart Industries, Inc.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 01/01/30 |  | 782 | 799595 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.50%, 01/01/31 |  | 120 | 125219 |
|  Husky III Holding Ltd., (13.00% Cash or 13.75% PIK), 13.00%, 02/15/25<sup>(c)(g)</sup> |  | 587 | 544032 |
|  Madison IAQ LLC, 5.88%, 06/30/29<sup>(c)(f)</sup> |  | 447 | 354578 |
|  Mueller Water Products, Inc., 4.00%, 06/15/29<sup>(c)</sup> |  | 122 | 108204 |
|  OT Merger Corp., 7.88%, 10/15/29<sup>(c)</sup> |  | 147 | 94389 |
|  Renk AG/Frankfurt am Main, 5.75%, 07/15/25<sup>(e)</sup> | EUR | 100 | 105969 |
|  Stevens Holding Co., Inc., 6.13%, 10/01/26<sup>(c)</sup> | USD | 197 | 199927 |
|  Terex Corp., 5.00%, 05/15/29<sup>(c)</sup> |  | 421 | 393109 |

---

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Multi-Sector Income Trust (BIT)**<br> **(Percentages shown are based on Net Assets)** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* |
|  **Machinery (continued)** |  |  |  |
|  Titan Acquisition Ltd./Titan Co.-Borrower LLC, 7.75%, 04/15/26<sup>(c)(f)</sup> | USD | 1241 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1173862 |
|  TK Elevator Holdco GmbH, 7.63%, 07/15/28<sup>(c)</sup> |  | 552 | 490864 |
|  TK Elevator Midco GmbH, 4.38%, 07/15/27<sup>(e)</sup> | EUR | 235 | 230724 |
|  TK Elevator U.S. Newco, Inc., 5.25%, 07/15/27<sup>(c)(f)</sup> | USD | 1748 | 1617896 |
|  |  |  | 6362888 |
| **Marine — 0.0%** |  |  |  |
|  Huntington Ingalls Industries, Inc., 4.20%, 05/01/30<sup>(f)</sup> |  | 232 | 217042 |
| **Media — 8.5%** |  |  |  |
|  Altice Financing SA |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 01/15/28<sup>(e)</sup> | EUR | 100 | 87146 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 01/15/28<sup>(c)(f)</sup> | USD | 462 | 392834 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 08/15/29<sup>(c)</sup> |  | 1578 | 1325371 |
|  Altice France Holding SA, 10.50%, 05/15/27<sup>(c)</sup> |  | 776 | 666390 |
|  AMC Networks, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 08/01/25 |  | 283 | 241965 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 02/15/29 |  | 157 | 96751 |
|  Block Communications, Inc., 4.88%, 03/01/28<sup>(c)</sup> |  | 168 | 147840 |
|  Cable One, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 03/15/26<sup>(h)(i)</sup> |  | 114 | 91599 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.13%, 03/15/28<sup>(h)</sup> |  | 940 | 722390 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 11/15/30<sup>(c)(f)</sup> |  | 385 | 317443 |
|  CCO Holdings LLC/CCO Holdings Capital Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 05/01/27<sup>(c)</sup> |  | 711 | 677619 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 02/01/28<sup>(c)</sup> |  | 74 | 69098 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 06/01/29<sup>(c)</sup> |  | 658 | 608650 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 09/01/29<sup>(c)(f)</sup> |  | 955 | 921575 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 03/01/30<sup>(c)(f)</sup> |  | 368 | 321555 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 08/15/30<sup>(c)(f)</sup> |  | 816 | 697239 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 02/01/31<sup>(c)(f)</sup> |  | 1017 | 847212 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 03/01/31<sup>(c)(k)</sup> |  | 398 | 398995 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/01/32<sup>(c)</sup> |  | 584 | 496400 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 05/01/32<sup>(f)</sup> |  | 318 | 263145 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 06/01/33<sup>(c)(f)</sup> |  | 332 | 269750 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 01/15/34<sup>(c)</sup> |  | 1265 | 986131 |
|  Charter Communications Operating LLC/Charter |  |  |  |
|  Communications Operating Capital |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 04/01/33 |  | 984 | 883959 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.48%, 10/23/45<sup>(f)</sup> |  | 3000 | 2951236 |
|  Clear Channel International BV, 6.63%, 08/01/25<sup>(c)(f)</sup> |  | 507 | 493483 |
|  Clear Channel Outdoor Holdings, Inc.<sup>(c)(f)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 08/15/27 |  | 1975 | 1791256 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 04/15/28 |  | 1211 | 1030234 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 06/01/29 |  | 794 | 647110 |
| &nbsp;&nbsp;&nbsp;&nbsp; CMG Media Corp., 8.88%, 12/15/27<sup>(c)</sup> |  | 841 | 655980 |
|  Connect Finco SARL/Connect U.S. Finco LLC, 6.75%, 10/01/26<sup>(c)(f)</sup> |  | 2129 | 2035856 |
|  CSC Holdings LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 06/01/24<sup>(f)</sup> |  | 687 | 672467 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 02/01/29<sup>(c)</sup> |  | 368 | 318386 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 12/01/30<sup>(c)(f)</sup> |  | 1135 | 839071 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 02/15/31<sup>(c)</sup> |  | 200 | 139500 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 11/15/31<sup>(c)</sup> |  | 1011 | 744581 |
|  Directv Financing LLC/Directv Financing Co.-Obligor, Inc., 5.88%, 08/15/27<sup>(c)(f)</sup> |  | 589 | 533519 |
|  Discovery Communications LLC, 4.95%, 05/15/42<sup>(f)</sup> |  | 400 | 332585 |
|  DISH DBS Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 07/01/26 |  | 1070 | 869011 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 12/01/26<sup>(c)(f)</sup> |  | 1753 | 1510867 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* |
|  **Media (continued)** |  |  |  |
|  DISH DBS Corp. (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 12/01/28<sup>(c)</sup> | USD | 738 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;603819 |
|  DISH Network Corp., 11.75%, 11/15/27<sup>(c)</sup> |  | 234 | 243173 |
|  Frontier Communications Holdings LLC<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 10/15/27<sup>(f)</sup> |  | 341 | 325628 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 05/01/28 |  | 1029 | 935515 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 05/01/29<sup>(f)</sup> |  | 337 | 288977 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 01/15/30 |  | 213 | 174965 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.75%, 05/15/30 |  | 748 | 775115 |
|  GCI LLC, 4.75%, 10/15/28<sup>(c)</sup> |  | 136 | 119753 |
|  iHeartCommunications, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 05/01/26 |  | 192 | 183259 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 08/15/27<sup>(c)</sup> |  | 213 | 190769 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 01/15/28<sup>(c)</sup> |  | 96 | 82085 |
|  Iliad Holding SASU |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 10/15/26<sup>(c)(f)</sup> |  | 1522 | 1441266 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 10/15/28<sup>(e)</sup> | EUR | 100 | 101105 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 10/15/28<sup>(c)</sup> | USD | 608 | 571021 |
|  LCPR Senior Secured Financing DAC<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 10/15/27 |  | 180 | 175374 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 07/15/29<sup>(f)</sup> |  | 686 | 603680 |
|  Liberty Broadband Corp.<sup>(c)(h)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.25%, 09/30/50 |  | 528 | 508860 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 09/30/50 |  | 727 | 712437 |
|  Ligado Networks LLC, (15.50% PIK), 15.50%, 11/01/23<sup>(c)(g)</sup> |  | 313 | 95788 |
|  Lions Gate Capital Holdings LLC, 5.50%, 04/15/29<sup>(c)</sup> |  | 962 | 625300 |
|  Live Nation Entertainment, Inc.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 11/01/24 |  | 40 | 38846 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 05/15/27 |  | 1554 | 1562606 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 10/15/27<sup>(f)</sup> |  | 606 | 560550 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 01/15/28 |  | 253 | 225091 |
|  Midcontinent Communications/Midcontinent Finance Corp., 5.38%, 08/15/27<sup>(c)</sup> |  | 209 | 196884 |
|  Network i2i Ltd., (5 year CMT + 4.27%), 5.65%<sup>(b)(e)(j)</sup> |  | 250 | 240516 |
|  Outfront Media Capital LLC/Outfront Media Capital Corp.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 08/15/27<sup>(f)</sup> |  | 556 | 511444 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 01/15/29 |  | 280 | 240700 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 03/15/30 |  | 105 | 90186 |
|  Paramount Global, 5.85%, 09/01/43<sup>(f)</sup> |  | 645 | 573905 |
|  Radiate Holdco LLC/Radiate Finance, Inc.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 09/15/26 |  | 728 | 557481 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 09/15/28<sup>(f)</sup> |  | 1701 | 886204 |
|  Sable International Finance Ltd., 5.75%, 09/07/27<sup>(c)</sup> |  | 200 | 189000 |
|  Sinclair Television Group, Inc., 4.13%, 12/01/30<sup>(c)(f)</sup> |  | 643 | 511185 |
|  Sirius XM Radio, Inc.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 09/01/26<sup>(f)</sup> |  | 627 | 564316 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 08/01/27 |  | 552 | 522330 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 07/15/28<sup>(f)</sup> |  | 445 | 396094 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 07/01/29 |  | 454 | 425466 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 07/01/30 |  | 139 | 119211 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 09/01/31 |  | 415 | 342118 |
|  Stagwell Global LLC, 5.63%, 08/15/29<sup>(c)</sup> |  | 129 | 113036 |
|  Summer BC Holdco B SARL, 5.75%, 10/31/26<sup>(e)</sup> | EUR | 100 | 97979 |
|  Telenet Finance Luxembourg Notes SARL, 5.50%, 03/01/28<sup>(c)</sup> | USD | 400 | 371600 |
|  Univision Communications, Inc.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 02/15/25 |  | 110 | 107167 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 06/01/27 |  | 132 | 129360 |

---

S C H E D U L E O F I N V E S T M E N T S 12

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Multi-Sector Income Trust (BIT)**<br> **(Percentages shown are based on Net Assets)** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* |
|  **Media (continued)** |  |  |  |
|  Univision Communications, Inc.<sup>(c)</sup> (continued) | Univision Communications, Inc.<sup>(c)</sup> (continued) | Univision Communications, Inc.<sup>(c)</sup> (continued) | Univision Communications, Inc.<sup>(c)</sup> (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 06/30/30 | USD | 270 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;264776 |
|  UPC Broadband Finco BV, 4.88%, 07/15/31<sup>(c)</sup> |  | 574 | 504988 |
|  Videotron Ltd., 3.63%, 06/15/29<sup>(c)</sup> |  | 336 | 292339 |
|  VZ Secured Financing BV, 3.50%, 01/15/32<sup>(e)</sup> | EUR | 100 | 86428 |
|  Warnermedia Holdings, Inc., 4.28%, 03/15/32<sup>(c)(f)</sup> | USD | 983 | 874826 |
|  Ziggo Bond Co. BV<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 01/15/27<sup>(f)</sup> |  | 638 | 603408 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 02/28/30 |  | 295 | 243817 |
|  Ziggo BV, 4.88%, 01/15/30<sup>(c)</sup> |  | 217 | 189016 |
|  |  |  | 48486961 |
| **Metals & Mining — 2.5%** |  |  |  |
|  ABJA Investment Co. Pte. Ltd., 5.95%, 07/31/24<sup>(e)</sup> |  | 250 | 248125 |
|  AngloGold Ashanti Holdings PLC, 3.75%, 10/01/30 |  | 400 | 354000 |
|  Arconic Corp.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 05/15/25 |  | 361 | 357418 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 02/15/28<sup>(f)</sup> |  | 488 | 468867 |
|  ATI, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 12/01/27 |  | 90 | 86840 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 10/01/29 |  | 129 | 118052 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 10/01/31 |  | 350 | 318062 |
|  BHP Billiton Finance USA Ltd., 4.13%, 02/24/42<sup>(f)</sup> |  | 250 | 232790 |
|  Big River Steel LLC/BRS Finance Corp., 6.63%, 01/31/29<sup>(c)</sup> |  | 1573 | 1542782 |
|  Carpenter Technology Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 07/15/28 |  | 57 | 56145 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.63%, 03/15/30 |  | 422 | 433141 |
|  Commercial Metals Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 01/15/30 |  | 39 | 34905 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 03/15/32 |  | 46 | 40353 |
|  Constellium SE |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 02/15/26<sup>(e)</sup> | EUR | 100 | 105948 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 02/15/26<sup>(c)(f)</sup> | USD | 1193 | 1179972 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 06/15/28<sup>(c)</sup> |  | 250 | 237000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 04/15/29<sup>(c)(f)</sup> |  | 1645 | 1398990 |
|  Freeport Indonesia PT, 4.76%, 04/14/27<sup>(e)</sup> |  | 390 | 378343 |
|  JSW Steel Ltd., 5.95%, 04/18/24<sup>(e)</sup> |  | 200 | 197000 |
|  Kaiser Aluminum Corp.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 03/01/28<sup>(f)</sup> |  | 281 | 256553 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 06/01/31 |  | 770 | 651120 |
|  Metinvest BV<sup>(e)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 04/23/26 |  | 302 | 159305 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.65%, 10/01/27 |  | 200 | 105000 |
|  New Gold, Inc., 7.50%, 07/15/27<sup>(c)</sup> |  | 900 | 835021 |
|  Novelis Corp.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 11/15/26<sup>(f)</sup> |  | 835 | 755942 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 01/30/30<sup>(f)</sup> |  | 1059 | 958395 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 08/15/31 |  | 995 | 839780 |
|  Novelis Sheet Ingot GmbH, 3.38%, 04/15/29<sup>(e)</sup> | EUR | 300 | 283368 |
|  POSCO<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 01/17/26 | USD | 200 | 202370 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 01/17/28 |  | 200 | 205840 |
|  Rio Tinto Finance USA PLC, 4.75%, 03/22/42<sup>(f)</sup> |  | 400 | 398161 |
|  Roller Bearing Co. of America, Inc., 4.38%, 10/15/29<sup>(c)</sup>. |  | 155 | 139666 |
|  Stillwater Mining Co., 4.00%, 11/16/26<sup>(e)</sup> |  | 426 | 394050 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* |
|  **Metals & Mining (continued)** |  |  |  |
|  Vedanta Resources Finance II PLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 13.88%, 01/21/24<sup>(e)</sup> | USD | 200 | $176913 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.95%, 03/11/25<sup>(c)</sup> |  | 320 | 250400 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14400617 |
| **Multiline Retail — 0.1%** |  |  |  |
|  NMG Holding Co., Inc./Neiman Marcus Group LLC, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 04/01/26<sup>(c)</sup> |  | 398 | 380036 |
| **Offshore Drilling & Other Services<sup>(c)</sup> — 0.4%** | **Offshore Drilling & Other Services<sup>(c)</sup> — 0.4%** | **Offshore Drilling & Other Services<sup>(c)</sup> — 0.4%** |  |
|  Entegris Escrow Corp., 4.75%, 04/15/29 |  | 1939 | 1817306 |
|  Entegris, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 04/15/28 |  | 223 | 201815 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 05/01/29 |  | 202 | 172269 |
|  |  |  | 2191390 |
| **Oil, Gas & Consumable Fuels — 12.4%** |  |  |  |
|  Aethon United BR LP/Aethon United Finance Corp., 8.25%, 02/15/26<sup>(c)</sup> |  | 1057 | 1051715 |
|  Antero Midstream Partners LP/Antero Midstream |  |  |  |
|  Finance Corp.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 03/01/27 |  | 382 | 370540 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 01/15/28 |  | 75 | 71719 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 06/15/29 |  | 263 | 244261 |
|  Antero Resources Corp., 7.63%, 02/01/29<sup>(c)</sup> |  | 158 | 161571 |
|  Apache Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 01/15/30<sup>(f)</sup> |  | 315 | 288175 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 09/01/40<sup>(f)</sup> |  | 520 | 454090 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 04/15/43 |  | 800 | 633304 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 07/01/49 |  | 83 | 68666 |
|  Arcosa, Inc., 4.38%, 04/15/29<sup>(c)</sup> |  | 477 | 426574 |
|  Ascent Resources Utica Holdings LLC/ARU Finance Corp.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.00%, 11/01/27 |  | 1172 | 1444490 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 06/30/29 |  | 131 | 115313 |
|  Buckeye Partners LP |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 03/01/25<sup>(c)</sup> |  | 345 | 327750 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 11/15/43 |  | 182 | 139230 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 10/15/44 |  | 117 | 89223 |
|  Callon Petroleum Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 07/01/26 |  | 152 | 146399 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 08/01/28<sup>(c)(f)</sup> |  | 739 | 738601 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 06/15/30<sup>(c)</sup> |  | 775 | 749812 |
|  Cheniere Energy Partners LP |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 10/01/29<sup>(f)</sup> |  | 1454 | 1364026 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 03/01/31 |  | 851 | 763483 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 01/31/32<sup>(f)</sup> |  | 811 | 677047 |
|  Chesapeake Energy Corp.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 02/01/29 |  | 53 | 50754 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 04/15/29 |  | 605 | 596560 |
|  Civitas Resources, Inc., 5.00%, 10/15/26<sup>(c)</sup> |  | 113 | 105373 |
|  CNX Midstream Partners LP, 4.75%, 04/15/30<sup>(c)</sup> |  | 124 | 104920 |
|  CNX Resources Corp.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 01/15/29 |  | 139 | 127599 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 01/15/31<sup>(f)</sup> |  | 268 | 260627 |
|  Comstock Resources, Inc.<sup>(c)(f)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 03/01/29 |  | 662 | 610695 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 01/15/30 |  | 1079 | 925242 |
|  CQP Holdco LP/BIP-V Chinook Holdco LLC, 5.50%, 06/15/31<sup>(c)(f)</sup> |  | 1969 | 1793001 |

---

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Multi-Sector Income Trust (BIT)**<br> **(Percentages shown are based on Net Assets)** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* |
|  **Oil, Gas & Consumable Fuels (continued)** | **Oil, Gas & Consumable Fuels (continued)** | **Oil, Gas & Consumable Fuels (continued)** | **Oil, Gas & Consumable Fuels (continued)** |
|  Crescent Energy Finance LLC<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 05/01/26<sup>(f)</sup> | USD | 902 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;865920 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.25%, 02/15/28<sup>(k)</sup> |  | 232 | 231640 |
|  Crestwood Midstream Partners LP/Crestwood |  |  |  |
|  Midstream Finance Corp.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 05/01/27 |  | 67 | 64033 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 02/01/29 |  | 369 | 350058 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 04/01/29 |  | 57 | 57853 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 02/01/31 |  | 126 | 126788 |
|  CrownRock LP/CrownRock Finance, Inc.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 10/15/25<sup>(f)</sup> |  | 1166 | 1136850 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 05/01/29 |  | 56 | 51293 |
|  DCP Midstream Operating LP<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.45%, 11/03/36<sup>(f)</sup> |  | 182 | 190907 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 09/15/37 |  | 323 | 353830 |
|  Diamondback Energy, Inc., 6.25%, 03/15/33<sup>(f)</sup> |  | 1022 | 1087674 |
|  DT Midstream, Inc.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 06/15/29<sup>(f)</sup> |  | 489 | 429097 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 06/15/31 |  | 657 | 574692 |
|  Dycom Industries, Inc., 4.50%, 04/15/29<sup>(c)</sup> |  | 151 | 135183 |
|  Earthstone Energy Holdings LLC, 8.00%, 04/15/27<sup>(c)(f)</sup> |  | 453 | 441675 |
|  Ecopetrol SA |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 01/16/25 |  | 396 | 382635 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 11/02/31 |  | 370 | 291393 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.88%, 01/13/33 |  | 339 | 347068 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 05/28/45 |  | 215 | 153967 |
|  eG Global Finance PLC<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 02/07/25 |  | 252 | 234045 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 10/30/25 |  | 299 | 281807 |
|  EIG Pearl Holdings SARL, 3.55%, 08/31/36<sup>(c)(f)</sup> |  | 422 | 365030 |
|  El Paso Natural Gas Co. LLC, 3.50%, 02/15/32<sup>(c)</sup> |  | 185 | 160870 |
|  Empresa Nacional del Petroleo, 3.75%, 08/05/26<sup>(e)</sup> |  | 204 | 191798 |
|  Enbridge, Inc.<sup>(b)(f)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (3 mo. LIBOR US + 3.64%), 6.25%, 03/01/78 |  | 1865 | 1774888 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 20-A, (5 year CMT + 5.31%), 5.75%, 07/15/80 |  | 690 | 652940 |
|  Endeavor Energy Resources LP/EER Finance, Inc., 5.75%, 01/30/28<sup>(c)</sup> |  | 567 | 555660 |
|  Energy Transfer LP<sup>(f)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 02/15/28 |  | 96 | 97558 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 05/15/30 |  | 1055 | 966905 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 02/15/33 |  | 240 | 246648 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 12/15/45 |  | 500 | 499734 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 04/15/47 |  | 350 | 316636 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series H, (5 year CMT + 5.69%),<br>6.50%<sup>(b)(j)</sup> |  | 894 | 838465 |
|  EnLink Midstream LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 01/15/28<sup>(c)</sup> |  | 450 | 439875 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 06/01/29 |  | 428 | 412509 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 09/01/30<sup>(c)</sup> |  | 302 | 307662 |
|  EnLink Midstream Partners LP |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 06/01/25 |  | 28 | 26977 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 07/15/26 |  | 160 | 155132 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 04/01/44 |  | 274 | 229500 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 04/01/45 |  | 49 | 38521 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 06/01/47 |  | 78 | 64884 |
|  Enterprise Products Operating LLC, (3 mo. LIBOR US + 2.57%), 5.38%, 02/15/78<sup>(b)</sup> |  | 420 | 351327 |
|  EQM Midstream Partners LP |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 07/01/25<sup>(c)</sup> |  | 44 | 43318 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 12/01/26 |  | 131 | 118508 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 01/15/29<sup>(c)</sup> |  | 34 | 29820 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* |
|  **Oil, Gas & Consumable Fuels (continued)** | **Oil, Gas & Consumable Fuels (continued)** | **Oil, Gas & Consumable Fuels (continued)** | **Oil, Gas & Consumable Fuels (continued)** |
|  EQM Midstream Partners LP (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 06/01/30<sup>(c)</sup> | USD | 108 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107865 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 01/15/31<sup>(c)</sup> |  | 804 | 680041 |
|  EQT Corp., 1.75%, 05/01/26<sup>(h)</sup> |  | 99 | 222107 |
|  Genesis Energy LP/Genesis Energy Finance Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 10/01/25<sup>(f)</sup> |  | 135 | 132638 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 02/01/28 |  | 204 | 197142 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.88%, 04/15/30 |  | 201 | 204266 |
|  Gulfport Energy Corp., 8.00%, 05/17/26<sup>(c)</sup> |  | 47 | 46568 |
|  Harvest Midstream I LP, 7.50%, 09/01/28<sup>(c)</sup> |  | 78 | 76733 |
|  Hess Corp., 4.30%, 04/01/27<sup>(f)</sup> |  | 750 | 734623 |
|  Hess Midstream Operations LP, 4.25%, 02/15/30<sup>(c)</sup> |  | 305 | 267121 |
|  Hilcorp Energy I LP/Hilcorp Finance Co.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 11/01/28 |  | 188 | 180576 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 02/01/29 |  | 283 | 263190 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 04/15/30 |  | 35 | 32538 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 02/01/31 |  | 20 | 18494 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 04/15/32 |  | 10 | 9230 |
|  HPCL-Mittal Energy Ltd., 5.45%, 10/22/26<sup>(e)</sup> |  | 200 | 191975 |
|  HTA Group Ltd., 7.00%, 12/18/25<sup>(c)</sup> |  | 431 | 404951 |
|  IHS Holding Ltd., 6.25%, 11/29/28<sup>(c)</sup> |  | 200 | 163713 |
|  Impulsora Pipeline LLC, 6.05%, 01/01/43<sup>(a)</sup> |  | 1524 | 1384995 |
|  ITT Holdings LLC, 6.50%, 08/01/29<sup>(c)</sup> |  | 437 | 379644 |
|  Kinder Morgan Energy Partners LP, 4.25%, 09/01/24<sup>(f)</sup> |  | 2500 | 2469164 |
|  Kinder Morgan, Inc., 4.80%, 02/01/33<sup>(f)</sup> |  | 508 | 491223 |
|  Kinetik Holdings LP, 5.88%, 06/15/30<sup>(c)(f)</sup> |  | 709 | 673550 |
|  Leviathan Bond Ltd., 5.75%, 06/30/23<sup>(c)(e)</sup> |  | 169 | 168325 |
|  Magnolia Oil & Gas Operating LLC/Magnolia Oil & Gas Finance Corp., 6.00%, 08/01/26<sup>(c)</sup> |  | 41 | 39668 |
|  Matador Resources Co., 5.88%, 09/15/26<sup>(f)</sup> |  | 401 | 394433 |
|  MC Brazil Downstream Trading SARL, 7.25%, 06/30/31<sup>(c)</sup> |  | 320 | 279104 |
|  Medco Bell Pte. Ltd., 6.38%, 01/30/27<sup>(e)</sup> |  | 250 | 237500 |
|  MPLX LP, 4.25%, 12/01/27<sup>(f)</sup> |  | 235 | 228449 |
|  Murphy Oil Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 12/01/27 |  | 25 | 24439 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 12/01/42 |  | 35 | 28639 |
|  Murphy Oil USA, Inc., 4.75%, 09/15/29 |  | 171 | 156679 |
|  Nabors Industries Ltd.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 01/15/26 |  | 273 | 265492 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 01/15/28 |  | 319 | 304074 |
|  Nabors Industries, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 02/01/25 |  | 881 | 854178 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 05/15/27<sup>(c)(f)</sup> |  | 423 | 423550 |
|  New Fortress Energy, Inc.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 09/15/25 |  | 1332 | 1274239 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 09/30/26 |  | 1261 | 1160322 |
|  NGL Energy Operating LLC/NGL Energy Finance Corp., 7.50%, 02/01/26<sup>(c)</sup> |  | 470 | 446340 |
|  NGPL PipeCo LLC, 7.77%, 12/15/37<sup>(c)(f)</sup> |  | 270 | 302987 |
|  Northern Oil & Gas, Inc., 8.13%,<br>03/01/28<sup>(c)(f)</sup> |  | 1194 | 1189320 |
|  NuStar Logistics LP |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 06/01/26 |  | 234 | 229161 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 10/01/30 |  | 30 | 28898 |
|  Occidental Petroleum Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.95%, 07/01/24 |  | 38 | 38689 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 09/01/25 |  | 150 | 151829 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.88%, 07/15/30 |  | 197 | 231967 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 09/01/30<sup>(f)</sup> |  | 1047 | 1111545 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 05/01/31 |  | 193 | 214713 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.45%, 09/15/36<sup>(f)</sup> |  | 457 | 480595 |

---

S C H E D U L E O F I N V E S T M E N T S 14

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Multi-Sector Income Trust (BIT)**<br> **(Percentages shown are based on Net Assets)** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* |
|  **Oil, Gas & Consumable Fuels (continued)** | **Oil, Gas & Consumable Fuels (continued)** | **Oil, Gas & Consumable Fuels (continued)** | **Oil, Gas & Consumable Fuels (continued)** |
|  Occidental Petroleum Corp. (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.20%, 03/15/40 | USD | 801 | $809378 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.60%, 03/15/46 |  | 49 | 52179 |
|  Odebrecht Offshore Drilling Finance Ltd., (7.72% PIK), 7.72%, 12/01/26<sup>(c)(g)</sup> |  | 1 | 135 |
|  ONEOK, Inc., 4.35%, 03/15/29<sup>(f)</sup> |  | 297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;283378 |
|  OQ SAOC, 5.13%, 05/06/28<sup>(c)</sup> |  | 300 | 288525 |
|  PDC Energy, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 09/15/24 |  | 89 | 88500 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 05/15/26 |  | 292 | 282402 |
|  Permian Resources Operating LLC<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 02/15/26 |  | 584 | 583650 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 04/01/27 |  | 132 | 129345 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 07/01/29 |  | 452 | 423661 |
|  Pertamina Persero PT, 3.65%, 07/30/29<sup>(e)</sup> |  | 352 | 324759 |
|  Petroleos Mexicanos |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 03/13/27<sup>(f)</sup> |  | 359 | 338277 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.75%, 06/02/29<sup>(f)</sup> |  | 357 | 347994 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 01/28/31 |  | 435 | 347304 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.70%, 02/16/32 |  | 220 | 182050 |
|  Plains All American Pipeline LP/PAA Finance Corp.<sup>(f)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.55%, 12/15/29 |  | 213 | 191571 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 09/15/30 |  | 365 | 331588 |
|  Precision Drilling Corp., 6.88%, 01/15/29<sup>(c)</sup> |  | 16 | 15412 |
|  Puma International Financing SA, 5.13%, 10/06/24<sup>(c)</sup> |  | 483 | 465612 |
|  Range Resources Corp., 4.88%, 05/15/25 |  | 18 | 17366 |
|  Rockcliff Energy II LLC, 5.50%, 10/15/29<sup>(c)</sup> |  | 479 | 455644 |
|  Rockies Express Pipeline LLC, 4.95%, 07/15/29<sup>(c)</sup> |  | 66 | 59656 |
|  Sabine Pass Liquefaction LLC, 5.90%, 09/15/37<sup>(c)</sup> |  | 185 | 192005 |
|  Shell International Finance BV, 4.38%, 05/11/45<sup>(f)</sup> |  | 450 | 423843 |
|  SM Energy Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 06/01/25 |  | 72 | 70560 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 09/15/26<sup>(f)</sup> |  | 161 | 158481 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 01/15/27 |  | 27 | 26240 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 07/15/28 |  | 130 | 123659 |
|  Southwestern Energy Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 02/01/29 |  | 296 | 278135 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/01/32 |  | 206 | 181593 |
|  Suncor Energy, Inc., 6.50%, 06/15/38<sup>(f)</sup> |  | 800 | 870638 |
|  Sunoco LP/Sunoco Finance Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 04/15/27 |  | 75 | 74957 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 03/15/28 |  | 147 | 144060 |
|  Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 03/01/27 |  | 53 | 50249 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 01/15/28 |  | 98 | 90247 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 12/31/30 |  | 36 | 32788 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 09/01/31 |  | 168 | 151200 |
|  Tap Rock Resources LLC, 7.00%, 10/01/26<sup>(c)</sup> |  | 982 | 929463 |
|  Transocean Titan Financing Ltd., 8.38%, 02/01/28<sup>(c)</sup> |  | 228 | 236600 |
|  Transocean, Inc.<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 01/15/26 |  | 316 | 297040 |
| &nbsp;&nbsp;&nbsp;&nbsp; 11.50%, 01/30/27 |  | 239 | 249385 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.75%, 02/15/30 |  | 1186 | 1222766 |
|  Vantage Towers AG, 0.38%, 03/31/27<sup>(e)</sup> | EUR | 100 | 101608 |
|  Venture Global Calcasieu Pass LLC<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 08/15/29 | USD | 1114 | 991460 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 08/15/31 |  | 1172 | 1039048 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 11/01/33<sup>(f)</sup> |  | 1961 | 1665771 |
|  Vermilion Energy, Inc., 6.88%, 05/01/30<sup>(c)</sup> |  | 204 | 188190 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* |
|  **Oil, Gas & Consumable Fuels (continued)** |  |  |  |
|  Vivo Energy Investments BV, 5.13%, 09/24/27<sup>(c)</sup> | USD | 349 | $325181 |
|  Western Midstream Operating LP |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 04/01/44<sup>(f)</sup> |  | 934 | 822116 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 03/01/48 |  | 43 | 37625 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 08/15/48 |  | 103 | 89491 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 02/01/50<sup>(f)</sup> |  | 978 | 848415 |
|  Williams Cos, Inc., 4.50%, 11/15/23<sup>(f)</sup> |  | 1750 | 1743922 |
|  |  |  | 70846937 |
| **Pharmaceuticals — 1.3%** |  |  |  |
|  AbbVie, Inc.<sup>(f)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 03/15/45 |  | 500 | 480389 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 05/14/46 |  | 1000 | 919300 |
|  Bayer AG, (5 year EUR Swap + 3.75%), 4.50%, 03/25/82<sup>(b)(e)</sup> | EUR | 100 | 102339 |
|  Cheplapharm Arzneimittel GmbH, 3.50%, 02/11/27<sup>(e)</sup> |  | 100 | 97789 |
|  CVS Health Corp., 5.05%, 03/25/48<sup>(f)</sup> | USD | 1110 | 1055296 |
|  Elanco Animal Health, Inc., 6.40%, 08/28/28 |  | 230 | 224526 |
|  Gruenenthal GmbH, 4.13%, 05/15/28<sup>(e)</sup> | EUR | 100 | 98805 |
|  Jazz Securities DAC, 4.38%, 01/15/29<sup>(c)</sup> | USD | 200 | 182468 |
|  Nidda Healthcare Holding GmbH, 7.50%, 08/21/26<sup>(e)</sup> | EUR | 100 | 105878 |
|  Option Care Health, Inc., 4.38%, 10/31/29<sup>(c)</sup> | USD | 314 | 271240 |
|  Organon & Co./Organon Foreign Debt Co.-Issuer BV<sup>(c)(f)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 04/30/28 |  | 1153 | 1042831 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 04/30/31 |  | 536 | 483895 |
|  PRA Health Sciences, Inc., 2.88%, 07/15/26<sup>(c)(f)</sup> |  | 563 | 515241 |
|  Prestige Brands, Inc., 3.75%, 04/01/31<sup>(c)</sup> |  | 190 | 161329 |
|  Rossini SARL, 6.75%, 10/30/25<sup>(e)</sup> | EUR | 166 | 181470 |
|  Teva Pharmaceutical Finance Netherlands II BV, 6.00%, 01/31/25 |  | 100 | 109381 |
|  Teva Pharmaceutical Finance Netherlands III BV |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 01/31/25 | USD | 200 | 201835 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 05/09/27 |  | 200 | 184625 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 03/01/28 |  | 200 | 200674 |
|  Utah Acquisition Sub, Inc., 3.95%, 06/15/26<sup>(f)</sup> |  | 650 | 619742 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7239053 |
| **Real Estate — 0.0%** |  |  |  |
|  VICI Properties LP/VICI Note Co., Inc., 4.50%, 01/15/28<sup>(c)</sup> |  | 128 | 119588 |
| **Real Estate Management & Development — 0.7%** | **Real Estate Management & Development — 0.7%** | **Real Estate Management & Development — 0.7%** |  |
|  ADLER Group SA, 2.75%, 11/13/26<sup>(e)(l)(m)</sup> | EUR | 200 | 89059 |
|  Arabian Centres Sukuk II Ltd., 5.63%, 10/07/26<sup>(c)</sup> | USD | 325 | 308100 |
|  CIFI Holdings Group Co. Ltd., 6.00%, 07/16/25<sup>(e)(l)(m)</sup> |  | 200 | 61500 |
|  Country Garden Holdings Co. Ltd., 6.50%, 04/08/24<sup>(e)</sup> . |  | 200 | 166163 |
|  DIC Asset AG, 2.25%, 09/22/26<sup>(e)</sup> | EUR | 100 | 74448 |
|  Easy Tactic Ltd., (6.50% Cash or 7.50% PIK), 7.50%, 07/11/27<sup>(g)</sup> | USD | 218 | 69409 |
|  Fantasia Holdings Group Co. Ltd.<sup>(l)(m)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 11.75%, 04/17/22<sup>(e)</sup> |  | 430 | 74175 |
| &nbsp;&nbsp;&nbsp;&nbsp; 12.25%, 10/18/22 |  | 200 | 34500 |
| &nbsp;&nbsp;&nbsp;&nbsp; 11.88%, 06/01/23<sup>(e)</sup> |  | 200 | 34500 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.25%, 07/28/23<sup>(e)</sup> |  | 400 | 69000 |
|  Fastighets AB Balder, (5 year EUR Swap + 3.19%), 2.87%, 06/02/81<sup>(b)(e)</sup> | EUR | 100 | 83276 |
|  Greystar Real Estate Partners LLC, 5.75%, 12/01/25<sup>(c)</sup> | USD | 120 | 118012 |
|  Heimstaden Bostad AB, (5 year EUR Swap + 3.15%), 2.63%<sup>(b)(e)(j)</sup> | EUR | 100 | 63615 |

---

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Multi-Sector Income Trust (BIT)**<br> **(Percentages shown are based on Net Assets)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* | *Value* |
|  **Real Estate Management & Development (continued)** | **Real Estate Management & Development (continued)** | **Real Estate Management & Development (continued)** | **Real Estate Management & Development (continued)** | **Real Estate Management & Development (continued)** |
|  Howard Hughes Corp.<sup>(c)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 08/01/28 | USD | 106 | $| 98197 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 02/01/29 |  | 189 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163205 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 02/01/31 |  | 176 |  | 146244 |
|  MAF Sukuk Ltd.<sup>(e)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.64%, 05/14/29<sup>(f)</sup> |  | 325 |  | 323030 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.93%, 02/28/30 |  | 262 |  | 249113 |
|  Modern Land China Co. Ltd., 9.00%, 12/30/26 |  | 226 |  | 17374 |
|  Realogy Group LLC/Realogy Co.-Issuer Corp.<sup>(c)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 01/15/29 |  | 375 |  | 291577 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 04/15/30 |  | 173 |  | 129750 |
|  Ronshine China Holdings Ltd., 7.35%, 12/15/23<sup>(e)(l)(m)</sup> . |  | 23 |  | 2818 |
|  Shui On Development Holding Ltd., 5.75%, 11/12/23<sup>(e)</sup> |  | 200 |  | 194500 |
|  Sinic Holdings Group Co. Ltd., 10.50%, 06/18/22<sup>(l)(m)</sup> |  | 200 |  | 2000 |
|  Starwood Property Trust, Inc., 4.38%, 01/15/27<sup>(c)</sup> |  | 99 |  | 88853 |
|  Theta Capital Pte. Ltd., 8.13%, 01/22/25<sup>(e)</sup> |  | 200 |  | 172912 |
|  VICI Properties LP, 5.13%, 05/15/32 |  | 805 |  | 770063 |
|  |  |  |  | 3895393 |
| **Road & Rail — 0.5%** |  |  |  |  |
|  Burlington Northern Santa Fe LLC, 4.38%, 09/01/42<sup>(f)</sup>  |  | 500 |  | 472814 |
|  Danaos Corp., 8.50%, 03/01/28<sup>(c)</sup> |  | 100 |  | 95830 |
|  Lima Metro Line 2 Finance Ltd., 5.88%, 07/05/34<sup>(c)(f)</sup> |  | 1864 |  | 1817344 |
|  Seaspan Corp., 5.50%, 08/01/29<sup>(c)</sup> |  | 212 |  | 159329 |
|  Union Pacific Corp., 3.20%, 05/20/41<sup>(f)</sup> |  | 275 |  | 227641 |
|  |  |  |  | 2772958 |
| **Semiconductors & Semiconductor Equipment — 0.8%** | **Semiconductors & Semiconductor Equipment — 0.8%** | **Semiconductors & Semiconductor Equipment — 0.8%** | **Semiconductors & Semiconductor Equipment — 0.8%** | **Semiconductors & Semiconductor Equipment — 0.8%** |
|  ams-OSRAM AG, 6.00%, 07/31/25<sup>(e)</sup> | EUR | 100 |  | 104656 |
|  Broadcom, Inc. |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 11/15/30 | USD | 111 |  | 103544 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 02/15/31<sup>(c)(f)</sup> |  | 104 |  | 85372 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 11/15/32<sup>(f)</sup> |  | 856 |  | 788266 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.60%, 02/15/33<sup>(c)(f)</sup> |  | 282 |  | 221533 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.42%, 04/15/33<sup>(c)(f)</sup> |  | 527 |  | 442126 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.47%, 04/15/34<sup>(c)</sup> |  | 12 |  | 9950 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.14%, 11/15/35<sup>(c)(f)</sup> |  | 298 |  | 231354 |
|  Marvell Technology, Inc., 2.95%, 04/15/31<sup>(f)</sup> |  | 375 |  | 317011 |
|  QUALCOMM, Inc., 4.65%, 05/20/35<sup>(f)</sup> |  | 400 |  | 408723 |
|  Sensata Technologies BV<sup>(c)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 10/01/25 |  | 368 |  | 363950 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 04/15/29 |  | 216 |  | 193860 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 09/01/30 |  | 309 |  | 303206 |
|  Sensata Technologies, Inc.<sup>(c)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 02/15/30<sup>(f)</sup> |  | 818 |  | 740503 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 02/15/31 |  | 44 |  | 37349 |
|  Synaptics, Inc., 4.00%, 06/15/29<sup>(c)</sup> |  | 287 |  | 248517 |
|  |  |  |  | 4599920 |
| **Software — 2.1%** |  |  |  |  |
|  ACI Worldwide, Inc., 5.75%, 08/15/26<sup>(c)</sup> |  | 510 |  | 503625 |
|  Black Knight InfoServ LLC, 3.63%, 09/01/28<sup>(c)</sup> |  | 501 |  | 444637 |
|  Boxer Parent Co., Inc. |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 10/02/25<sup>(e)</sup> | EUR | 100 |  | 107313 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 10/02/25<sup>(c)</sup> | USD | 761 |  | 753410 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.13%, 03/01/26<sup>(c)</sup> |  | 194 |  | 184323 |
|  Central Parent, Inc./CDK Global, Inc., 7.25%, 06/15/29<sup>(c)</sup> |  | 716 |  | 714133 |
|  Cloud Software Group Holdings, Inc., 6.50%, 03/31/29<sup>(c)(f)</sup> |  | 3182 |  | 2792489 |
|  Crowdstrike Holdings, Inc., 3.00%, 02/15/29 |  | 53 |  | 45478 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* | *Value* |
|  **Software (continued)** |  |  |  |  |
|  Elastic NV, 4.13%, 07/15/29<sup>(c)</sup> | USD | 481 | $| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;411624 |
|  Helios Software Holdings, Inc./ION Corporate Solutions Finance SARL, 4.63%, 05/01/28<sup>(c)</sup> |  | 400 |  | 321496 |
|  Iron Mountain Information Management Services, Inc., 5.00%, 07/15/32<sup>(c)</sup> |  | 294 |  | 254898 |
|  MicroStrategy, Inc., 6.13%, 06/15/28<sup>(c)(f)</sup> |  | 577 |  | 486933 |
|  MSCI, Inc.<sup>(c)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 09/01/30 |  | 117 |  | 101839 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 02/15/31 |  | 136 |  | 120030 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 08/15/33 |  | 163 |  | 133660 |
|  Open Text Corp., 6.90%, 12/01/27<sup>(c)</sup> |  | 1133 |  | 1159909 |
|  Oracle Corp.<sup>(f)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 04/01/30 |  | 120 |  | 105555 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 03/25/31 |  | 341 |  | 293710 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 11/09/32 |  | 856 |  | 930435 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 04/01/50 |  | 250 |  | 183714 |
|  PTC, Inc., 4.00%, 02/15/28<sup>(c)</sup> |  | 242 |  | 225453 |
|  SS&C Technologies, Inc., 5.50%, 09/30/27<sup>(c)</sup> |  | 1372 |  | 1319513 |
|  Veritas U.S., Inc./Veritas Bermuda Ltd., 7.50%, 09/01/25<sup>(c)</sup> |  | 372 |  | 245410 |
|  |  |  |  | 11839587 |
| **Specialty Retail<sup>(c)</sup> — 0.3%** |  |  |  |  |
|  Arko Corp., 5.13%, 11/15/29 |  | 232 |  | 183906 |
|  PetSmart, Inc./PetSmart Finance Corp. |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/15/28 |  | 436 |  | 403293 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 02/15/29 |  | 895 |  | 879553 |
|  Staples, Inc., 7.50%, 04/15/26 |  | 526 |  | 467377 |
|  |  |  |  | 1934129 |
| **Technology Hardware, Storage & Peripherals — 0.2%** | **Technology Hardware, Storage & Peripherals — 0.2%** | **Technology Hardware, Storage & Peripherals — 0.2%** | **Technology Hardware, Storage & Peripherals — 0.2%** | **Technology Hardware, Storage & Peripherals — 0.2%** |
|  Coherent Corp., 5.00%, 12/15/29<sup>(c)</sup> |  | 947 |  | 860022 |
| **Textiles, Apparel & Luxury Goods<sup>(c)</sup> — 0.1%** | **Textiles, Apparel & Luxury Goods<sup>(c)</sup> — 0.1%** | **Textiles, Apparel & Luxury Goods<sup>(c)</sup> — 0.1%** | **Textiles, Apparel & Luxury Goods<sup>(c)</sup> — 0.1%** | **Textiles, Apparel & Luxury Goods<sup>(c)</sup> — 0.1%** |
|  Crocs, Inc. |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 03/15/29 |  | 32 |  | 27880 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 08/15/31 |  | 191 |  | 158842 |
|  Kontoor Brands, Inc., 4.13%, 11/15/29 |  | 126 |  | 108986 |
|  Levi Strauss & Co., 3.50%, 03/01/31 |  | 244 |  | 203740 |
|  William Carter Co., 5.63%, 03/15/27 |  | 28 |  | 27240 |
|  |  |  |  | 526688 |
| **Thrifts & Mortgage Finance — 0.3%** |  |  |  |  |
|  doValue SpA, 3.38%, 07/31/26<sup>(e)</sup> | EUR | 100 |  | 99849 |
|  Home Point Capital, Inc., 5.00%, 02/01/26<sup>(c)</sup> | USD | 247 |  | 177935 |
|  MGIC Investment Corp., 5.25%, 08/15/28 |  | 216 |  | 203623 |
|  Nationstar Mortgage Holdings, Inc.<sup>(c)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 01/15/27 |  | 237 |  | 219818 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 12/15/30 |  | 136 |  | 110160 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 11/15/31 |  | 146 |  | 117530 |
|  Rocket Mortgage LLC/Rocket Mortgage Co.-Issuer, Inc., 2.88%, 10/15/26<sup>(c)(f)</sup> |  | 614 |  | 547421 |
|  |  |  |  | 1476336 |
| **Tobacco<sup>(f)</sup> — 0.4%** |  |  |  |  |
|  Altria Group, Inc., 4.50%, 05/02/43 |  | 750 |  | 596611 |
|  Philip Morris International, Inc., 4.38%, 11/15/41 |  | 900 |  | 792599 |
|  Reynolds American, Inc., 5.85%, 08/15/45 |  | 715 |  | 653339 |
|  |  |  |  | 2042549 |
| **Transportation — 0.0%** |  |  |  |  |
|  XPO Escrow Sub LLC, 7.50%, 11/15/27<sup>(c)</sup> |  | 109 |  | 112008 |

---

S C H E D U L E O F I N V E S T M E N T S 16

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Multi-Sector Income Trust (BIT)**<br> **(Percentages shown are based on Net Assets)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* | *Value* |
|  **Transportation Infrastructure — 0.5%** |  |  |  |  |
|  Aeropuerto Internacional de Tocumen SA, 5.13%, 08/11/61<sup>(c)</sup> | USD | 320 | $| 259560 |
|  Aeropuertos Dominicanos Siglo XXI SA, 6.75%, 03/30/29<sup>(c)</sup> |  | 274 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270404 |
|  DP World Salaam, (5 year CMT + 5.75%), 6.00%<sup>(b)(e)(j)</sup> |  | 456 |  | 456285 |
|  FedEx Corp.<sup>(f)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 02/01/35 |  | 500 |  | 450511 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 11/15/45 |  | 500 |  | 454519 |
|  GMR Hyderabad International Airport Ltd., 4.25%, 10/27/27<sup>(e)</sup> |  | 200 |  | 173850 |
|  Heathrow Finance PLC, 4.13%,<br>09/01/29<sup>(e)(n)</sup> | GBP | 100 |  | 98628 |
|  Mexico City Airport Trust, 5.50%, 07/31/47<sup>(e)</sup> | USD | 308 |  | 248187 |
|  Transurban Finance Co. Pty. Ltd., 4.13%, 02/02/26<sup>(c)(f)</sup> |  | 520 |  | 505366 |
|  |  |  |  | 2917310 |
| **Utilities — 0.4%** |  |  |  |  |
|  AES Panama Generation Holdings SRL, 4.38%, 05/31/30<sup>(e)</sup> |  | 223 |  | 198512 |
|  Centrais Eletricas Brasileiras SA, 3.63%, 02/04/25<sup>(c)</sup> |  | 200 |  | 189850 |
|  Consensus Cloud Solutions, Inc.<sup>(c)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 10/15/26 |  | 91 |  | 86964 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 10/15/28 |  | 83 |  | 77705 |
|  Genneia SA, 8.75%, 09/02/27<sup>(c)</sup> |  | 168 |  | 162148 |
|  Mong Duong Finance Holdings BV, 5.13%, 05/07/29<sup>(e)</sup>. |  | 250 |  | 222313 |
|  Pattern Energy Operations LP/Pattern Energy Operations, Inc., 4.50%, 08/15/28<sup>(c)</sup> |  | 471 |  | 432142 |
|  Star Energy Geothermal Wayang Windu Ltd., 6.75%, 04/24/33<sup>(e)</sup> |  | 162 |  | 157093 |
|  Thames Water Kemble Finance PLC, 4.63%, 05/19/26<sup>(e)</sup> | GBP | 168 |  | 180708 |
|  TransAlta Corp., 7.75%, 11/15/29 | USD | 142 |  | 146019 |
|  Vistra Operations Co. LLC<sup>(c)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 09/01/26 |  | 18 |  | 17531 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 02/15/27<sup>(f)</sup> |  | 254 |  | 245296 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 07/31/27 |  | 18 |  | 16939 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 05/01/29 |  | 191 |  | 167955 |
|  |  |  |  | 2301175 |
| **Wireless Telecommunication Services — 1.3%** | **Wireless Telecommunication Services — 1.3%** | **Wireless Telecommunication Services — 1.3%** | **Wireless Telecommunication Services — 1.3%** | **Wireless Telecommunication Services — 1.3%** |
|  Altice France SA/France |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 02/01/27<sup>(e)</sup> | EUR | 100 |  | 98387 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.13%, 02/01/27<sup>(c)(f)</sup> | USD | 570 |  | 534341 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 01/15/28<sup>(c)</sup> |  | 357 |  | 296496 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 01/15/29<sup>(c)</sup> |  | 201 |  | 157536 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 07/15/29<sup>(c)(f)</sup> |  | 1206 |  | 946613 |
|  Kenbourne Invest SA<sup>(c)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 11/26/24 |  | 205 |  | 190394 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 01/22/28 |  | 200 |  | 151000 |
|  Millicom International Cellular SA, 5.13%, 01/15/28<sup>(e)</sup> |  | 283 |  | 252362 |
|  SBA Communications Corp. |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 02/01/29 |  | 920 |  | 779408 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 02/15/27<sup>(f)</sup> |  | 930 |  | 858888 |
|  Sprint LLC, 7.63%, 03/01/26 |  | 748 |  | 791134 |
|  VICI Properties LP/VICI Note Co., Inc.<sup>(c)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 05/01/24 |  | 69 |  | 68856 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 02/15/25 |  | 140 |  | 133224 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 06/15/25 |  | 60 |  | 58068 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 09/01/26 |  | 10 |  | 9532 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 12/01/26 |  | 135 |  | 127406 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 12/01/29 |  | 696 |  | 648142 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* |
|  **Wireless Telecommunication Services (continued)** | **Wireless Telecommunication Services (continued)** | **Wireless Telecommunication Services (continued)** | **Wireless Telecommunication Services (continued)** |
|  VICI Properties LP/VICI Note Co., Inc.<sup>(c)</sup> (continued) | VICI Properties LP/VICI Note Co., Inc.<sup>(c)</sup> (continued) | VICI Properties LP/VICI Note Co., Inc.<sup>(c)</sup> (continued) | VICI Properties LP/VICI Note Co., Inc.<sup>(c)</sup> (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 08/15/30 | USD | 488 | $436509 |
|  Vmed O2 U.K. Financing I PLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 01/31/29<sup>(e)</sup> | GBP | 100 | 101710 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 07/15/31<sup>(e)</sup> |  | 100 | 98351 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 07/15/31<sup>(c)(f)</sup> | USD | 762 | 647720 |
|  |  |  | 7386077 |
|  **Total Corporate Bonds — 79.9%<br>(Cost: $492,464,957)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;456335821 |
|  **Floating Rate Loan Interests<sup>(b)</sup>** |  |  |  |
|  **Aerospace & Defense — 0.3%** |  |  |  |
|  Peraton Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2nd Lien Term Loan B1, (1 mo. LIBOR + 7.75%, 0.75% Floor), 12.22%, 02/01/29 |  | 747 | 722415 |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, (1 mo. LIBOR + 3.75%, 0.75% Floor), 8.32%, 02/01/28 |  | 969 | 962855 |
|  |  |  | 1685270 |
| **Air Freight & Logistics — 0.2%** |  |  |  |
|  AIT Worldwide Logistics Holdings, Inc., 2021 Term Loan, (3 mo. LIBOR + 4.75%, 0.75% Floor), 9.13%, 04/06/28 |  | 142 | 135268 |
|  PECF USS Intermediate Holding III Corp., Term Loan B, (1 mo. LIBOR + 4.25%, 0.50% Floor), 8.82%, 12/15/28 |  | 882 | 751905 |
|  |  |  | 887173 |
| **Airlines — 0.4%** |  |  |  |
|  AAdvantage Loyalty IP Ltd., 2021 Term Loan, (3 mo. LIBOR + 4.75%, 0.75% Floor), 9.56%, 04/20/28 |  | 748 | 767579 |
|  Air Canada, 2021 Term Loan B, (3 mo. LIBOR + 3.50%, 0.75% Floor), 8.13%, 08/11/28 |  | 257 | 256732 |
|  Mileage Plus Holdings LLC, 2020 Term Loan B, (3 mo. LIBOR + 5.25%, 1.00% Floor), 10.00%, 06/21/27 |  | 206 | 214130 |
|  SkyMiles IP Ltd., 2020 Skymiles Term Loan B, (3 mo. LIBOR + 3.75%, 1.00% Floor), 8.56%, 10/20/27 |  | 362 | 373941 |
|  United Airlines, Inc., 2021 Term Loan B, (3 mo. LIBOR + 3.75%, 0.75% Floor), 8.57%, 04/21/28 |  | 774 | 772367 |
|  |  |  | 2384749 |
| **Banks — 0.2%** |  |  |  |
|  DirecTV Financing LLC, Term Loan, (1 mo. LIBOR + 5.00%, 0.75% Floor), 9.57%, 08/02/27 |  | 1187 | 1165685 |
| **Beverages — 0.0%** |  |  |  |
|  Naked Juice LLC, 2nd Lien Term Loan, (3 mo. SOFRTE + 6.00%, 0.50% Floor), 10.68%, 01/24/30 . |  | 38 | 31207 |
| **Capital Markets — 0.1%** |  |  |  |
|  Ascensus Holdings, Inc., 2021 2nd Lien Term Loan, (3 mo. LIBOR + 6.50%, 0.50% Floor), 11.31%, 08/02/29 |  | 232 | 206452 |
|  Deerfield Dakota Holding LLC, 2021 USD 2nd Lien Term Loan, (1 mo. LIBOR + 6.75%, 0.75% Floor), 11.32%, 04/07/28 |  | 274 | 257902 |
|  |  |  | 464354 |
| **Chemicals — 0.2%** |  |  |  |
|  Arc Falcon I, Inc., 2021 Term Loan, (1 mo. LIBOR + 3.75%, 0.50% Floor), 8.32%, 09/30/28 |  | 207 | 184772 |

---

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Multi-Sector Income Trust (BIT)**<br> **(Percentages shown are based on Net Assets)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* | *Value* |
|  **Chemicals (continued)** |  |  |  |  |
|  Ascend Performance Materials Operations LLC, 2021 Term Loan B, (6 mo. SOFR CME + 4.75%, 0.75% Floor), 8.83%, 08/27/26 | USD | 282 | $| 276398 |
|  Discovery Purchaser Corp., Term Loan, (3 mo. SOFR CME + 4.375%, 0.50% Floor), 8.96%, 10/04/29 |  | 668 |  | 638080 |
|  W.R. Grace Holdings LLC, 2021 Term Loan B, (3 mo. LIBOR + 3.75%, 0.50% Floor), 8.50%, 09/22/28 |  | 254 |  | 252422 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1351672 |
| **Commercial Services & Supplies — 0.2%** | **Commercial Services & Supplies — 0.2%** | **Commercial Services & Supplies — 0.2%** | **Commercial Services & Supplies — 0.2%** | **Commercial Services & Supplies — 0.2%** |
|  Propulsion Finco SARL, Term Loan, (3 mo. SOFR CME + 4.00%, 0.50% Floor), 8.58%, 09/14/29 |  | 159 |  | 156755 |
|  Verscend Holding Corp., 2021 Term<br>Loan B, (1 mo. LIBOR + 4.00%), 8.57%, 08/27/25 |  | 1239 |  | 1235376 |
|  |  |  |  | 1392131 |
| **Construction & Engineering — 0.4%** |  |  |  |  |
|  Brand Energy & Infrastructure Services, Inc., 2017 Term Loan, (3 mo. LIBOR + 4.25%, 1.00% Floor), 9.06%, 06/21/24 |  | 2576 |  | 2399724 |
| **Consumer Finance — 0.0%** |  |  |  |  |
|  Credito Real SAB de CV Sofom ENR, Term Loan B, (Defaulted), 0.00%, 02/17/23<sup>(a)(l)(m)</sup> |  | 56 |  | 1960 |
| **Containers & Packaging — 0.1%** |  |  |  |  |
|  Mauser Packaging Solutions Holding Co. |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2017 Term Loan B, (1 mo. LIBOR + 3.25%), 7.62%, 04/03/24 |  | 385 |  | 381463 |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 08/31/26<sup>(a)(o)</sup> |  | 176 |  | 174240 |
|  |  |  |  | 555703 |
| **Diversified Consumer Services — 0.1%** |  |  |  |  |
|  Amentum Government Services Holdings LLC, Term Loan B, (1 mo. LIBOR + 4.00%), 8.47%, 01/29/27 |  | 79 |  | 78120 |
|  Ascend Learning LLC, 2021 2nd Lien Term Loan, (1 mo. LIBOR + 5.75%, 0.50% Floor), 10.32%, 12/10/29 |  | 157 |  | 135748 |
|  Sotheby's, 2021 Term Loan B, (3 mo. LIBOR + 4.50%, 0.50% Floor), 9.33%, 01/15/27 |  | 77 |  | 76100 |
|  TruGreen Limited Partnership, 2020 2nd Lien Term Loan, (3 mo. LIBOR + 8.50%, 0.75% Floor), 13.33%, 11/02/28<sup>(a)</sup> |  | 201 |  | 142710 |
|  |  |  |  | 432678 |
| **Diversified Financial Services — 0.4%** |  |  |  |  |
|  Acuris Finance U.S., Inc., 2021 USD Term Loan B, (3 mo. SOFR CME + 4.00%, 0.50% Floor), 8.73%, 02/16/28 |  | 125 |  | 122621 |
|  Advisor Group, Inc., 2021 Term Loan, (1 mo. LIBOR + 4.50%), 9.07%, 07/31/26 |  | 153 |  | 151991 |
|  Delta TopCo, Inc., 2020 Term Loan B, (3 mo. LIBOR + 3.75%, 0.75% Floor), 8.15%, 12/01/27 |  | 311 |  | 288188 |
|  EP Purchaser LLC, 2021 Term Loan B, (3 mo. LIBOR + 3.50%, 0.50% Floor), 8.23%, 11/06/28 |  | 82 |  | 82176 |
|  Gainwell Acquisition Corp., Term Loan B, (3 mo. LIBOR + 4.00%, 0.75% Floor), 8.73%, 10/01/27 |  | 557 |  | 542584 |
|  KKR Apple Bidco LLC, 2021 2nd Lien Term Loan, (1 mo. LIBOR + 5.75%, 0.50% Floor), 10.32%, 09/21/29<sup>(a)</sup> |  | 34 |  | 33320 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* | *Value* |
|  **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** |
|  Radiate Holdco LLC, 2021 Term Loan B, (1 mo. LIBOR + 3.25%, 0.75% Floor), 7.82%, 09/25/26 | USD | 74 | $| 61795 |
|  Veritas U.S., Inc., 2021 USD Term Loan B, (3 mo. LIBOR + 5.00%, 1.00% Floor), 9.73%, 09/01/25 |  | 288 |  | 194593 |
|  VS Buyer LLC, Term Loan B, (PRIME + 2.00%), 9.50%, 02/28/27 |  | 91 |  | 90558 |
|  White Cap Buyer LLC, Term Loan B, (1 mo. SOFR CME + 3.75%), 8.31%, 10/19/27 |  | 427 |  | 422781 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1990607 |
| **Diversified Telecommunication Services — 0.1%** | **Diversified Telecommunication Services — 0.1%** | **Diversified Telecommunication Services — 0.1%** | **Diversified Telecommunication Services — 0.1%** | **Diversified Telecommunication Services — 0.1%** |
|  Frontier Communications Holdings LLC, 2021 1st Lien Term Loan, (3 mo. LIBOR + 3.75%, 0.75% Floor), 8.50%, 05/01/28 |  | 223 |  | 217490 |
|  Intelsat Jackson Holdings SA, 2021 Exit Term Loan B, (6 mo. SOFRTE + 4.50%, 0.50% Floor), 7.44%, 02/01/29 |  | 546 |  | 537231 |
|  |  |  |  | 754721 |
| **Entertainment — 0.0%** |  |  |  |  |
|  Delta 2 Lux SARL, Term Loan B, (1 mo. SOFR CME + 3.25%, 0.50% Floor), 7.81%, 01/15/30 |  | 60 |  | 60137 |
| **Food Products — 0.0%** |  |  |  |  |
|  Chobani LLC, 2020 Term Loan B, (1 mo. LIBOR + 3.50%, 1.00% Floor), 8.07%, 10/25/27 |  | 61 |  | 60783 |
| **Gas Utilities — 0.1%** |  |  |  |  |
|  Freeport LNG Investments LLLP, Term Loan B, (3 mo. LIBOR + 3.50%, 0.50% Floor), 8.31%, 12/21/28 |  | 322 |  | 312094 |
| **Health Care Providers & Services — 0.1%** |  |  |  |  |
|  Envision Healthcare Corp., 2022 First Out Term Loan, (3 mo. SOFR CME + 7.875%, 1.00% Floor), 12.61%, 03/31/27 |  | 78 |  | 67657 |
|  LifePoint Health, Inc., 2018 Term Loan B, (3 mo. LIBOR + 3.75%), 8.58%, 11/16/25 |  | 146 |  | 141427 |
|  Quorum Health Corp., 2020 Term Loan, 04/29/25<sup>(o)</sup> |  | 279 |  | 210656 |
|  Surgery Center Holdings, Inc., 2021 Term Loan, (3 mo. LIBOR + 3.75%, 0.75% Floor), 8.21%, 08/31/26 |  | 207 |  | 206764 |
|  WCG Purchaser Corp., 2019 Term Loan, (1 mo. LIBOR + 4.00%, 1.00% Floor), 8.57%, 01/08/27 |  | 78 |  | 75433 |
|  |  |  |  | 701937 |
| **Health Care Technology — 0.4%** |  |  |  |  |
|  AthenaHealth Group, Inc. |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2022 Delayed Draw Term loan, (1 mo. SOFR CME + 3.50%), 8.01%, 02/15/29 |  | 325 |  | 113553 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2022 Term Loan B, (1 mo. SOFR CME + 3.50%, 0.50% Floor), 8.01%, 02/15/29 |  | 1990 |  | 1882057 |
|  Polaris Newco LLC, USD Term Loan B, (3 mo. LIBOR + 4.00%, 0.50% Floor), 8.73%, 06/02/28 |  | 310 |  | 294635 |
|  |  |  |  | 2290245 |
| **Hotels, Restaurants & Leisure — 0.1%** |  |  |  |  |
|  Caesars Entertainment, Corp., Term Loan B, 02/06/30<sup>(o)</sup> |  | 80 |  | 80114 |

---

S C H E D U L E O F I N V E S T M E N T S 18

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Multi-Sector Income Trust (BIT)**<br> **(Percentages shown are based on Net Assets)** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* |
|  **Hotels, Restaurants & Leisure (continued)** | **Hotels, Restaurants & Leisure (continued)** | **Hotels, Restaurants & Leisure (continued)** | **Hotels, Restaurants & Leisure (continued)** |
|  Fertitta Entertainment LLC, 2022 Term<br>Loan B, (1 mo. SOFRTE + 4.00%, 0.50% Floor), 8.56%, 01/27/29 | USD | 470 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;463608 |
|  Stars Group Holdings BV, 2018 USD Incremental Term Loan, (3 mo. LIBOR + 2.25%), 6.98%, 07/21/26 |  | 39 | 38972 |
|  |  |  | 582694 |
| **Household Durables — 0.1%** |  |  |  |
|  Hunter Douglas, Inc., USD Term Loan B1, (3 mo. SOFR CME + 3.50%), 7.86%, 02/26/29 |  | 276 | 252017 |
|  Sunset Debt Merger Sub, Inc., 2021 Term Loan B, (3 mo. LIBOR + 4.00%, 0.75% Floor), 8.75%, 10/06/28 |  | 533 | 454194 |
|  |  |  | 706211 |
| **Industrial Conglomerates — 0.0%** |  |  |  |
|  AVSC Holding Corp., 2018 2nd Lien Term Loan, (1 mo. LIBOR + 7.25%, 1.00% Floor), 11.65%, 09/01/25 |  | 311 | 254878 |
| **Insurance — 0.1%** |  |  |  |
|  Alliant Holdings Intermediate LLC, 2018 Term Loan B, (1 mo. LIBOR + 3.25%), 7.82%, 05/09/25 |  | 246 | 245511 |
|  Hub International Ltd. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan B, (3 mo. LIBOR + 3.25%, 0.75% Floor), 8.06%, 04/25/25 |  | 125 | 124721 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2022 Term Loan B, (3 mo. SOFR CME + 4.00%, 0.75% Floor), 8.22%, 11/10/29 |  | 117 | 116877 |
|  Ryan Specialty Group LLC, Term Loan, (1 mo. SOFR CME + 3.00%, 0.75% Floor), 7.66%, 09/01/27 |  | 232 | 231919 |
|  |  |  | 719028 |
| **Interactive Media & Services — 0.0%** |  |  |  |
|  Grab Holdings, Inc., Term Loan B, (1 mo. LIBOR + 4.50%, 1.00% Floor), 9.07%, 01/29/26 |  | 75 | 105108 |
| **IT Services — 0.2%** |  |  |  |
|  Aruba Investments Holdings LLC, 2020 2nd Lien Term Loan, (1 mo. LIBOR + 7.75%, 0.75% Floor), 12.30%, 11/24/28 |  | 118 | 105824 |
|  Boxer Parent Co., Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 USD 2nd Lien Term Loan, (1 mo. LIBOR + 5.50%, 0.50% Floor), 10.07%, 02/27/26 |  | 529 | 497260 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 USD Term Loan, (1 mo. LIBOR + 3.75%), 8.32%, 10/02/25 |  | 213 | 208714 |
|  Camelot Finance SA, Term Loan B, (1 mo. LIBOR + 3.00%), 7.52%, 10/30/26 |  | 179 | 178405 |
|  PUG LLC, USD Term Loan, (1 mo. LIBOR + 3.50%), 8.07%, 02/12/27 |  | 120 | 100664 |
|  TierPoint LLC, 2021 Term Loan, (1 mo. LIBOR + 3.75%, 0.75% Floor), 8.32%, 05/05/26 |  | 63 | 59671 |
|  |  |  | 1150538 |
| **Leisure Products — 0.0%** |  |  |  |
|  Peloton Interactive, Inc., Term Loan, (2 mo. SOFR CME + 6.50%, 0.50% Floor), 11.76%, 05/25/27 |  | 131 | 130082 |
| **Machinery — 0.4%** |  |  |  |
|  MHI Holdings LLC, Term Loan B, (1 mo. LIBOR + 5.00%), 9.57%, 09/21/26 |  | 418 | 416570 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* | *Value* |
|  **Machinery (continued)** |  |  |  |  |
|  SPX Flow, Inc., 2022 Term Loan, (1 mo. SOFR CME + 4.50%, 0.50% Floor), 9.16%, 04/05/29 | USD | 339 | $| 326146 |
|  Titan Acquisition Ltd., 2018 Term Loan B,<br>(6 mo. LIBOR + 3.00%), 8.15%, 03/28/25 |  | 1808 |  | 1759951 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2502667 |
| **Media — 0.3%** |  |  |  |  |
|  Clear Channel Outdoor Holdings, Inc., Term Loan B, (3 mo. LIBOR + 3.50%), 8.32%, 08/21/26 |  | 1108 |  | 1052122 |
|  MH Sub I LLC, 2021 2nd Lien Term Loan,<br>(3 mo. SOFR CME + 6.25%), 10.65%, 02/23/29 |  | 66 |  | 59297 |
|  Zayo Group Holdings, Inc., USD Term Loan, (1 mo. LIBOR + 3.00%), 7.57%, 03/09/27 |  | 906 |  | 757764 |
|  |  |  |  | 1869183 |
| **Oil, Gas & Consumable Fuels — 0.6%** |  |  |  |  |
|  Ascent Resources Utica Holdings LLC, 2020 Fixed 2nd Lien Term Loan, (3 mo. LIBOR + 9.00%, 1.00% Floor), 13.82%, 11/01/25 |  | 2934 |  | 3109766 |
|  Lealand Finance Co. BV, 2020 Make Whole Term Loan, (1 mo. LIBOR + 3.00%), 7.57%, 06/28/24 |  | 17 |  | 10581 |
|  M6 ETX Holdings II Midco LLC, Term Loan B, (3 mo. SOFR CME + 4.50%, 0.50% Floor), 9.16%, 09/19/29 |  | 144 |  | 143377 |
|  |  |  |  | 3263724 |
| **Professional Services — 0.0%** |  |  |  |  |
|  Galaxy U.S. Opco, Inc., Term Loan, (1 mo. SOFR CME + 4.75%, 0.50% Floor), 9.31%, 04/29/29 |  | 171 |  | 155008 |
| **Real Estate Management & Development — 0.1%** | **Real Estate Management & Development — 0.1%** | **Real Estate Management & Development — 0.1%** | **Real Estate Management & Development — 0.1%** | **Real Estate Management & Development — 0.1%** |
|  Chariot Buyer LLC, Term Loan B, (1 mo. LIBOR + 3.25%, 0.50% Floor), 7.82%, 11/03/28 |  | 328 |  | 316391 |
| **Software — 1.2%** |  |  |  |  |
|  CDK Global, Inc., 2022 USD Term Loan B, (3 mo. SOFR CME + 4.50%, 0.50% Floor), 9.08%, 07/06/29 |  | 129 |  | 128637 |
|  Cloudera, Inc. |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 Second Lien Term Loan, (1 mo. LIBOR + 6.00%, 0.50% Floor), 10.57%, 10/08/29<sup>(a)</sup> |  | 442 |  | 387484 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan, (1 mo. LIBOR + 3.75%, 0.50% Floor), 8.32%, 10/08/28 |  | 340 |  | 326046 |
|  Digicel International Finance Ltd., 2017 Term Loan B, (1 mo. LIBOR + 3.25%), 7.80%, 05/28/24 |  | 702 |  | 592715 |
|  Epicor Software Corp., 2020 2nd Lien Term Loan, (1 mo. LIBOR + 7.75%, 1.00% Floor), 12.32%, 07/31/28 |  | 117 |  | 116537 |
|  Helios Software Holdings, Inc., 2021 USD Term Loan B, (3 mo. SOFR CME + 3.75%), 8.48%, 03/11/28 |  | 90 |  | 88785 |
|  Magenta Buyer LLC |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 USD 1st Lien Term Loan, (3 mo. LIBOR + 4.75%, 0.75% Floor), 9.58%, 07/27/28 |  | 797 |  | 694644 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 USD 2nd Lien Term Loan, (3 mo. LIBOR + 8.25%, 0.75% Floor), 13.08%, 07/27/29 |  | 530 |  | 419585 |
|  McAfee Corp., 2022 USD Term Loan B, (1 mo. SOFR CME + 3.75%), 8.18%, 03/01/29 |  | 875 |  | 823778 |
|  Planview Parent, Inc., 2nd Lien Term Loan, (3 mo. LIBOR + 7.25%, 0.75% Floor), 11.98%, 12/18/28 |  | 195 |  | 172249 |
|  Proofpoint, Inc., 2nd Lien Term Loan, (3 mo. LIBOR + 6.25%, 0.50% Floor), 10.98%, 08/31/29 |  | 472 |  | 452760 |

---

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Multi-Sector Income Trust (BIT)**<br> **(Percentages shown are based on Net Assets)** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* |
|  **Software (continued)** |  |  |  |
|  Renaissance Holding Corp., 2018 1st Lien Term Loan, (1 mo. LIBOR + 3.25%), 7.82%, 05/30/25 | USD | 18 | $17404 |
|  Sabre Global, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan B1, (1 mo. LIBOR + 3.50%, 0.50% Floor), 8.07%, 12/17/27 |  | 60 | 55421 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan B2, (1 mo. LIBOR + 3.50%, 0.50% Floor), 8.07%, 12/17/27 |  | 97 | 88751 |
|  Sophia LP, 2021 Term Loan B, (3 mo. LIBOR + 3.50%, 0.50% Floor), 8.23%, 10/07/27 |  | 774 | 762724 |
|  SS&C Technologies, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2018 Term Loan B3, (1 mo. LIBOR + 1.75%), 6.32%, 04/16/25 |  | 86 | 86186 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2018 Term Loan B4, (1 mo. LIBOR + 1.75%), 6.32%, 04/16/25 |  | 68 | 67878 |
|  TIBCO Software, Inc., 2022 USD Term Loan, (3 mo. SOFR CME + 4.50%, 0.50% Floor), 9.18%, 03/30/29 |  | 807 | 743449 |
|  Ultimate Software Group, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2021 2nd Lien Term Loan, (3 mo. LIBOR + 5.25%, 0.50% Floor), 10.03%, 05/03/27 |  | 556 | 530419 |
| &nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, (3 mo. LIBOR + 3.75%), 8.58%, 05/04/26 |  | 208 | 205923 |
|  |  |  | 6761375 |
| **Specialty Retail — 0.0%** |  |  |  |
|  Staples, Inc., 7 Year Term Loan, (3 mo. LIBOR + 5.00%), 9.44%, 04/16/26 |  | 68 | 63629 |
| **Textiles, Apparel & Luxury Goods — 0.1%** | **Textiles, Apparel & Luxury Goods — 0.1%** | **Textiles, Apparel & Luxury Goods — 0.1%** |  |
|  Crocs, Inc., Term Loan B, (3 mo. SOFRTE + 3.50%, 0.50% Floor), 7.80%, 02/20/29 |  | 327 | 324639 |
| **Trading Companies & Distributors — 0.1%** | **Trading Companies & Distributors — 0.1%** | **Trading Companies & Distributors — 0.1%** |  |
|  SRS Distribution, Inc., 2022 Incremental Term Loan, (1 mo. SOFR CME + 3.50%), 8.16%, 06/02/28 |  | 287 | 276547 |
| **Transportation — 0.1%** |  |  |  |
|  Brown Group Holding, LLC, 2022 Incremental Term Loan B2, (1 mo. SOFR CME + 3.75%, 0.50% Floor), 8.39%, 07/02/29 |  | 267 | 266471 |
|  **Total Floating Rate Loan Interests — 6.7%<br>(Cost: $39,882,448)** | **Total Floating Rate Loan Interests — 6.7%<br>(Cost: $39,882,448)** | **Total Floating Rate Loan Interests — 6.7%<br>(Cost: $39,882,448)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38371003 |
|  **Foreign Agency Obligations** |  |  |  |
|  **Bahrain — 0.0%** |  |  |  |
|  Bahrain Government International Bond, 5.45%, 09/16/32<sup>(e)</sup> |  | 200 | 181000 |
| **Chile — 0.1%** |  |  |  |
|  Chile Government International Bond |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.34%, 03/07/42 |  | 200 | 177287 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 01/31/52 |  | 200 | 162288 |
|  |  |  | 339575 |
| **Colombia — 0.3%** |  |  |  |
|  Colombia Government International Bond |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 01/28/26<sup>(f)</sup> |  | 542 | 517542 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 04/25/27 |  | 200 | 181038 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* |
|  **Colombia (continued)** |  |  |  |
|  Colombia Government International Bond (continued) | Colombia Government International Bond (continued) | Colombia Government International Bond (continued) | Colombia Government International Bond (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 04/15/31<sup>(f)</sup> | USD | 677 | $511685 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 04/20/33<sup>(f)</sup> |  | 544 | 558382 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1768647 |
| **Dominican Republic — 0.3%** |  |  |  |
|  Dominican Republic International Bond |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 01/29/26<sup>(e)</sup> |  | 207 | 212731 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 01/25/27<sup>(e)</sup> |  | 523 | 521137 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 02/22/29<sup>(c)</sup> |  | 260 | 244042 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 01/30/30<sup>(c)</sup> |  | 452 | 392901 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.05%, 02/03/31<sup>(c)</sup> |  | 150 | 150000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 09/23/32<sup>(c)(f)</sup> |  | 339 | 288214 |
|  |  |  | 1809025 |
| **Egypt — 0.1%** |  |  |  |
|  Egypt Government International Bond<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 05/29/24 |  | 200 | 188000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 02/16/61 |  | 200 | 129500 |
|  |  |  | 317500 |
| **Guatemala — 0.2%** |  |  |  |
|  Guatemala Government Bond |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 05/03/26<sup>(e)</sup> |  | 200 | 193350 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 08/10/29<sup>(c)</sup> |  | 200 | 193913 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 04/24/32<sup>(c)</sup> |  | 200 | 195162 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 10/07/41<sup>(c)</sup> |  | 401 | 333281 |
|  |  |  | 915706 |
| **Hungary — 0.1%** |  |  |  |
|  Hungary Government International Bond |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 03/25/24 |  | 64 | 64112 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 06/16/29<sup>(c)</sup> |  | 250 | 247188 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 09/25/52<sup>(c)</sup> |  | 200 | 211250 |
|  |  |  | 522550 |
| **Indonesia — 0.2%** |  |  |  |
|  Indonesia Government International Bond, 4.10%, 04/24/28<sup>(f)</sup> |  | 947 | 930605 |
|  Perusahaan Penerbit SBSN Indonesia III, 4.40%, 06/06/27<sup>(c)</sup> |  | 200 | 199272 |
|  |  |  | 1129877 |
| **Ivory Coast — 0.1%** |  |  |  |
|  Ivory Coast Government International Bond, 6.38%, 03/03/28<sup>(e)</sup> |  | 731 | 707243 |
| **Mexico — 0.2%** |  |  |  |
|  Mexico Government International Bond |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 01/11/28<sup>(f)</sup> |  | 805 | 771592 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 05/19/33 |  | 200 | 192000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.35%, 02/09/35 |  | 200 | 212300 |
|  |  |  | 1175892 |
| **Morocco — 0.1%** |  |  |  |
|  Morocco Government International Bond, 3.00%, 12/15/32<sup>(c)</sup> |  | 500 | 399375 |
| **Nigeria — 0.1%** |  |  |  |
|  Nigeria Government International Bond |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.38%, 03/24/29<sup>(c)</sup> |  | 400 | 333000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 02/16/32<sup>(e)</sup> |  | 208 | 157040 |
|  |  |  | 490040 |

---

S C H E D U L E O F I N V E S T M E N T S 20

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Multi-Sector Income Trust (BIT)**<br> **(Percentages shown are based on Net Assets)** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* |
|  **Oman — 0.1%** |  |  |  |
|  Oman Government International Bond<sup>(e)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 03/08/47 | USD | 309 | $294709 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 01/17/48 |  | 309 | 303206 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 01/25/51 |  | 224 | 226520 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;824435 |
| **Panama — 0.3%** |  |  |  |
|  Panama Government International Bond<sup>(f)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 03/17/28 |  | 742 | 707822 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.16%, 01/23/30 |  | 792 | 695128 |
|  |  |  | 1402950 |
| **Paraguay — 0.1%** |  |  |  |
|  Paraguay Government International Bond |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 04/28/31<sup>(c)</sup> |  | 200 | 193725 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 03/13/48<sup>(e)</sup> |  | 210 | 189564 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 03/30/50<sup>(e)</sup> |  | 400 | 356075 |
|  |  |  | 739364 |
| **Peru — 0.2%** |  |  |  |
|  Corp. Financiera de Desarrollo SA, 4.75%, 07/15/25<sup>(e)</sup> |  | 379 | 367346 |
|  Peruvian Government International Bond<sup>(f)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.78%, 01/23/31 |  | 233 | 196783 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.86%, 12/01/32 |  | 712 | 531241 |
|  |  |  | 1095370 |
| **Romania — 0.2%** |  |  |  |
|  Romanian Government International Bond |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 11/25/27<sup>(c)</sup> |  | 336 | 330540 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 03/11/29<sup>(e)</sup> | EUR | 365 | 338603 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 02/08/30<sup>(e)</sup> |  | 381 | 332399 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.12%, 07/16/31<sup>(e)</sup> |  | 428 | 340832 |
|  |  |  | 1342374 |
| **Saudi Arabia — 0.2%** |  |  |  |
|  Saudi Government International Bond |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 01/18/28<sup>(c)</sup> | USD | 275 | 278163 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 04/16/29<sup>(c)</sup> |  | 200 | 200000 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 04/17/30<sup>(e)(f)</sup> |  | 362 | 362294 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 02/02/33<sup>(e)</sup> |  | 200 | 163350 |
|  |  |  | 1003807 |
| **Senegal — 0.0%** |  |  |  |
|  Senegal Government International Bond, 6.25%, 05/23/33<sup>(e)</sup> |  | 231 | 199815 |
| **South Africa — 0.2%** |  |  |  |
|  Republic of South Africa Government International Bond |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 09/30/29 |  | 210 | 191100 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 04/20/32 |  | 390 | 361238 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 10/12/46 |  | 501 | 364477 |
|  |  |  | 916815 |
| **Sri Lanka — 0.0%** |  |  |  |
|  Sri Lanka Government International Bond, 6.85%, 03/14/24<sup>(e)(l)(m)</sup> |  | 400 | 135825 |
| **Ukraine — 0.0%** |  |  |  |
|  Ukraine Government International Bond<sup>(l)(m)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.99%, 02/01/26<sup>(e)</sup> |  | 224 | 50442 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* | *Value* |
|  **Ukraine (continued)** |  |  |  |  |
|  Ukraine Government International Bond<sup>(l)(m)</sup> (continued) | Ukraine Government International Bond<sup>(l)(m)</sup> (continued) | Ukraine Government International Bond<sup>(l)(m)</sup> (continued) | Ukraine Government International Bond<sup>(l)(m)</sup> (continued) | Ukraine Government International Bond<sup>(l)(m)</sup> (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 09/01/27<sup>(e)</sup> | USD | 226 | $| 48209 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 03/15/35<sup>(c)</sup> |  | 371 |  | 72298 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170949 |
| **Uruguay — 0.1%** |  |  |  |  |
|  Uruguay Government International Bond, 5.75%, 10/28/34 |  | 370 |  | 410694 |
|  **Total Foreign Agency Obligations — 3.2%<br>(Cost: $19,405,584)** | **Total Foreign Agency Obligations — 3.2%<br>(Cost: $19,405,584)** | **Total Foreign Agency Obligations — 3.2%<br>(Cost: $19,405,584)** |  | 17998828 |
|  **Municipal Bonds** |  |  |  |  |
|  **California — 0.0%** |  |  |  |  |
|  California County Tobacco Securitization Agency, Refunding RB, CAB, Series B-2, Subordinate, 0.00%, 06/01/55<sup>(i)</sup> |  | 1230 |  | 222262 |
| **Illinois — 0.2%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; State of Illinois, GO, 5.10%, 06/01/33 |  | 800 |  | 794058 |
|  **Total Municipal Bonds — 0.2%<br>(Cost: $1,013,634)** |  |  |  | 1016320 |
|  **Non-Agency Mortgage-Backed Securities** | **Non-Agency Mortgage-Backed Securities** | **Non-Agency Mortgage-Backed Securities** | **Non-Agency Mortgage-Backed Securities** | **Non-Agency Mortgage-Backed Securities** |
|  **Collateralized Mortgage Obligations — 12.3%** | **Collateralized Mortgage Obligations — 12.3%** | **Collateralized Mortgage Obligations — 12.3%** | **Collateralized Mortgage Obligations — 12.3%** | **Collateralized Mortgage Obligations — 12.3%** |
|  Alternative Loan Trust |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-J8, Class A5, 6.00%, 02/25/37 |  | 1831 |  | 834528 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-19, Class 1A1, 6.00%, 08/25/37 |  | 546 |  | 285360 |
|  BRAVO Residential Funding Trust, Series 2021-NQM1, Class A1, 0.94%, 02/25/49<sup>(b)(c)</sup> |  | 746 |  | 661379 |
|  Chase Home Lending Mortgage Trust, Series 2019-ATR1, Class A12, 6.50%, 04/25/49<sup>(b)(c)</sup> |  | 437 |  | 435712 |
|  CHL Mortgage Pass-Through Trust |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-J2, Class 2A1, (1 mo. LIBOR US + 0.65%), 5.16%, 07/25/37<sup>(b)(k)</sup> |  | 2655 |  | 699654 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-J2, Class 2A8, 6.00%, 07/25/37 |  | 1466 |  | 614713 |
|  Citigroup Mortgage Loan Trust, Series 2006-AR7, Class 2A3A, 3.72%, 11/25/36<sup>(b)</sup> |  | 783 |  | 735083 |
|  COLT Mortgage Loan Trust<sup>(c)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-2, Class M1, 5.25%, 03/25/65<sup>(b)</sup> |  | 2550 |  | 2449045 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-3, Class M1, 3.36%, 04/27/65<sup>(b)</sup> |  | 2850 |  | 2591306 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-1, Class A1, 4.55%, 04/25/67<sup>(b)</sup> |  | 1467 |  | 1459271 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-7, Class A1, 5.16%, 04/25/67 |  | 2525 |  | 2502805 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-9, Class A1, 6.79%, 12/25/67 |  | 362 |  | 368162 |
|  Countrywide Alternative Loan Trust |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2005-9CB, Class 1A3, (1 mo. LIBOR US + 0.45%), 4.96%, 05/25/35<sup>(b)</sup> |  | 1322 |  | 1143764 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-40T1, Class 2A5, (1 mo. LIBOR US + 0.40%), 4.91%, 12/25/36<sup>(b)</sup> |  | 2256 |  | 482523 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-7CB, Class 2A1, 6.50%, 05/25/36<sup>(k)</sup> |  | 1427 |  | 727633 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-J7, Class 2A1, (1 mo. LIBOR US + 1.50%), 5.87%, 11/20/46<sup>(b)</sup> |  | 2950 |  | 2125760 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-OA14, Class 3A1, (12 mo. MTA + 0.85%), 3.28%, 11/25/46<sup>(b)(k)</sup> |  | 4373 |  | 3650902 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-OA16, Class A2, (1 mo. LIBOR US + 0.38%), 4.89%, 10/25/46<sup>(b)</sup> |  | 2886 |  | 2554757 |

---

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Multi-Sector Income Trust (BIT)**<br> **(Percentages shown are based on Net Assets)** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* |
|  **Collateralized Mortgage Obligations (continued)** | **Collateralized Mortgage Obligations (continued)** | **Collateralized Mortgage Obligations (continued)** | **Collateralized Mortgage Obligations (continued)** |
|  Countrywide Alternative Loan Trust (continued) | Countrywide Alternative Loan Trust (continued) | Countrywide Alternative Loan Trust (continued) | Countrywide Alternative Loan Trust (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-OA18, Class A1, (1 mo. LIBOR US + 0.24%), 4.75%, 12/25/46<sup>(b)</sup> | USD | 1674 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1435216 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-OA6, Class 1A1A, (1 mo. LIBOR US + 0.42%), 4.93%, 07/25/46<sup>(b)</sup> |  | 3405 | 2702026 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2006-OA8, Class 1A1, (1 mo. LIBOR US + 0.38%), 4.89%, 07/25/46<sup>(b)</sup> |  | 1126 | 951343 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-12T1, Class A22, 5.75%, 06/25/37<sup>(k)</sup> |  | 3375 | 1611162 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-12T1, Class A5, 6.00%, 06/25/37<sup>(k)</sup> |  | 1638 | 813815 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-22, Class 2A16, 6.50%, 09/25/37 |  | 7072 | 3003834 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-23CB, Class A1, 6.00%, 09/25/37 |  | 4103 | 2360183 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-4CB, Class 1A3, (1 mo. LIBOR US + 0.35%), 4.86%, 04/25/37<sup>(b)</sup> |  | 1675 | 1288876 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2007-OA2, Class 1A1, (12 mo. MTA + 0.84%), 3.27%, 03/25/47<sup>(b)</sup> |  | 1991 | 1648616 |
|  Countrywide Home Loan Mortgage Pass-Through Trust, Series 2006-OA5, Class 3A1, (1 mo. LIBOR US + 0.40%), 4.91%, 04/25/46<sup>(b)</sup> |  | 4166 | 3861225 |
|  Credit Suisse Mortgage Capital Certificates Trust, Class A1, 5.17%, 05/25/67<sup>(b)(c)</sup> |  | 2902 | 2867443 |
|  Csmc Trust<sup>(b)(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2011-4R, Class 1A2, (1 mo. LIBOR US + 1.50%), 5.62%, 09/27/37 |  | 1397 | 1170705 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-NQM2, Class M1, 2.28%, 02/25/66 |  | 1500 | 922476 |
|  Ellington Financial Mortgage Trust<sup>(b)(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-1, Class M1, 5.24%, 05/25/65 |  | 500 | 477551 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-2, Class A1, 0.93%, 06/25/66 |  | 217 | 178010 |
|  GCAT Trust, Series 2022-NQM3, Class A1, 4.35%, 04/25/67<sup>(b)(c)</sup> |  | 1012 | 992467 |
|  GS Mortgage-Backed Securities Trust, Series 2021- PJ7, Class A2, 2.50%, 01/25/52<sup>(b)(c)</sup> |  | 2149 | 1793762 |
|  Homeward Opportunities Fund Trust, Series 2022-1, Class A1, 5.08%, 07/25/67<sup>(c)</sup> |  | 1082 | 1079864 |
|  JP Morgan Mortgage Trust, Series 2022-DSC1, Class A1, 4.75%, 01/25/63<sup>(b)(c)</sup> |  | 554 | 539724 |
|  MFA Trust, Series 2021-NQM1, Class M1, 2.31%, 04/25/65<sup>(b)(c)</sup> |  | 2000 | 1492925 |
|  Morgan Stanley Re-REMIC Trust, Series 2010-R5, Class 7B, 2.88%, 05/26/37<sup>(c)</sup> |  | 4214 | 4005798 |
|  Nomura Asset Acceptance Corp. Alternative Loan Trust, Series 2006-AF1, Class 1A2, 6.16%, 05/25/36<sup>(b)</sup> |  | 6725 | 1511470 |
|  Onslow Bay Financial LLC, 6.12%, 11/25/62<sup>(c)</sup> |  | 516 | 519771 |
|  ONSLOW Bay Financial LLC, Series 2022-NQM9, Class A1A, 6.45%, 09/25/62<sup>(c)</sup> |  | 602 | 610720 |
|  Residential Asset Securitization Trust, Series 2006-A8, Class 2A5, (1 mo. LIBOR US + 0.60%), 5.11%, 08/25/36<sup>(b)</sup> |  | 6341 | 1227097 |
|  SG Residential Mortgage Trust, Series 2022-2, Class A1, 5.35%, 08/25/62<sup>(c)</sup> |  | 729 | 727487 |
|  Spruce Hill Mortgage Loan Trust, Class A1A, 4.10%, 07/25/57<sup>(c)</sup> |  | 722 | 697796 |
|  STAR Trust, Series 2021-1, Class M1, 2.36%, 05/25/65<sup>(b)(c)</sup> |  | 1750 | 1340241 |
|  Starwood Mortgage Residential Trust, Series 2020-3, Class M1, 3.54%, 04/25/65<sup>(b)(c)</sup> |  | 1057 | 883014 |
|  Verus Securitization Trust<sup>(c)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 12/25/67 |  | 346 | 346138 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* | *Value* |
|  **Collateralized Mortgage Obligations (continued)** | **Collateralized Mortgage Obligations (continued)** | **Collateralized Mortgage Obligations (continued)** | **Collateralized Mortgage Obligations (continued)** | **Collateralized Mortgage Obligations (continued)** |
|  Verus Securitization Trust<sup>(c)</sup> (continued) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-3, Class A1, 4.13%, 02/25/67 | USD | 507 | $| 487022 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-7, Class A1, 5.15%, 07/25/67 |  | 1948 |  | 1939534 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-INV2, Class A1, 6.79%, 10/25/67 |  | 552 |  | 562982 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70372650 |
| **Commercial Mortgage-Backed Securities — 2.5%** | **Commercial Mortgage-Backed Securities — 2.5%** | **Commercial Mortgage-Backed Securities — 2.5%** | **Commercial Mortgage-Backed Securities — 2.5%** | **Commercial Mortgage-Backed Securities — 2.5%** |
|  Bayview Commercial Asset Trust, Series 2007-2A, Class A1, (1 mo. LIBOR US + 0.27%), 4.78%, 07/25/37<sup>(b)(c)</sup> |  | 1429 |  | 1272251 |
|  BX Commercial Mortgage Trust<sup>(b)(c)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-XL, Class A, (1 mo. SOFR + 1.03%), 5.51%, 10/15/36 |  | 1110 |  | 1105326 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-CIP, Class A, (1 mo. LIBOR US + 0.92%), 5.38%, 12/15/38 |  | 600 |  | 587423 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-SOAR, Class A, (1 mo. LIBOR US + 0.67%), 5.13%, 06/15/38 |  | 1638 |  | 1597146 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-LP2, Class A, (1 mo. SOFR + 1.01%), 5.49%, 02/15/39 |  | 1550 |  | 1518612 |
|  BX Trust<sup>(b)(c)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-LBA, Class AJV, (1 mo. LIBOR US + 0.80%), 5.26%, 02/15/36 |  | 1650 |  | 1596900 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-SDMF, Class A, (1 mo. LIBOR US + 0.59%), 5.05%, 09/15/34 |  | 199 |  | 193339 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-GPA, Class A, (1 mo. SOFR + 2.17%), 6.64%, 10/15/39 |  | 650 |  | 649796 |
|  Cold Storage Trust, Class A, (1 mo. LIBOR US + 0.90%), 5.36%, 11/15/37<sup>(b)(c)</sup> |  | 101 |  | 99726 |
|  Extended Stay America Trust, Series 2021-ESH, Class D, (1 mo. LIBOR US + 2.25%), 6.71%, 07/15/38<sup>(b)(c)</sup> |  | 322 |  | 313877 |
|  GS Mortgage Securities Corp. Trust, Series 2022-SHIP, Class A, (1 mo. SOFR + 0.73%), 5.21%, 08/15/36<sup>(b)(c)</sup> |  | 600 |  | 597079 |
|  Independence Plaza Trust 2018-INDP, Series 2018-INDP, Class A, 3.76%, 07/10/35<sup>(c)</sup> |  | 1000 |  | 948801 |
|  JP Morgan Chase Commercial Mortgage Securities Trust, (30 day SOFR + 1.40%), 5.68%, 03/15/39<sup>(b)(c)</sup> |  | 1600 |  | 1563959 |
|  Lehman Brothers Small Balance Commercial Mortgage Trust, Series 2006-1A, Class B, (1 mo. LIBOR US + 1.00%), 5.51%, 04/25/31<sup>(b)(c)</sup> |  | 426 |  | 420791 |
|  Wells Fargo Commercial Mortgage Trust, Series 2016-LC25, Class A4, 3.64%, 12/15/59 |  | 1600 |  | 1530176 |
|  |  |  |  | 13995202 |
|  **Total Non-Agency Mortgage-Backed Securities — 14.8%<br>(Cost: $100,075,333)** | **Total Non-Agency Mortgage-Backed Securities — 14.8%<br>(Cost: $100,075,333)** | **Total Non-Agency Mortgage-Backed Securities — 14.8%<br>(Cost: $100,075,333)** |  | 84367852 |
|  **Preferred Securities** |  |  |  |  |
|  **Capital Trusts — 6.4%<sup>(b)</sup>** |  |  |  |  |
| **Automobiles — 0.1%** |  |  |  |  |
|  General Motors Financial Co., Inc.,<br>Series C, 5.70%<sup>(j)</sup> . |  | 395 |  | 365375 |
| **Banks<sup>(j)</sup> — 2.2%** |  |  |  |  |
|  AIB Group PLC, 5.25%<sup>(e)</sup> | EUR | 200 |  | 204928 |
|  Banco Mercantil del Norte SA<sup>(c)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.88% | USD | 205 |  | 189023 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75% |  | 292 |  | 285393 |

---

S C H E D U L E O F I N V E S T M E N T S 22

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Multi-Sector Income Trust (BIT)**<br> **(Percentages shown are based on Net Assets)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* | *Value* |
|  **Banks (continued)** |  |  |  |  |
|  Bank of East Asia Ltd., 5.88%<sup>(e)</sup> | USD | 250 | $| 242703 |
|  Industrial & Commercial Bank of China Ltd., 3.20%<sup>(e)</sup> |  | 210 |  | 199169 |
|  ING Groep NV, 3.88% |  | 1750 |  | 1419950 |
|  Kasikornbank PCL, 5.28%<sup>(e)</sup> |  | 246 |  | 237390 |
|  Nordea Bank Abp, 3.75%<sup>(c)</sup> |  | 560 |  | 442964 |
|  PNC Financial Services Group, Inc.,<br>Series V, 6.20%<sup>(f)</sup> |  | 377 |  | 377113 |
|  Rizal Commercial Banking Corp., 6.50%<sup>(e)</sup> |  | 200 |  | 178750 |
|  Wells Fargo & Co., Series S, 5.90%<sup>(f)</sup> |  | 8800 |  | 8613000 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12390383 |
| **Capital Markets — 0.4%** |  |  |  |  |
|  Bank of New York Mellon Corp., Series I, 3.75%<sup>(f)(j)</sup> |  | 2845 |  | 2471736 |
| **Diversified Financial Services<sup>(j)</sup> — 3.0%** |  |  |  |  |
|  Bank of America Corp.<sup>(f)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series AA, 6.10% |  | 2865 |  | 2866146 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series X, 6.25% |  | 4425 |  | 4422257 |
|  Barclays PLC |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.38% |  | 585 |  | 475505 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.00% |  | 275 |  | 276141 |
|  BNP Paribas SA, 6.88%<sup>(e)</sup> | EUR | 200 |  | 217158 |
|  Credit Agricole SA, 4.75%<sup>(c)</sup> | USD | 260 |  | 221104 |
|  HSBC Holdings PLC, 6.00%<sup>(f)</sup> |  | 695 |  | 667478 |
|  NatWest Group PLC, 6.00% |  | 1185 |  | 1131675 |
|  Societe Generale SA<sup>(c)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.38% |  | 3000 |  | 2579788 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.75% |  | 3000 |  | 2793618 |
|  UBS Group AG, 3.88%<sup>(c)(f)</sup> |  | 1750 |  | 1510314 |
|  Woori Bank, 4.25%<sup>(e)</sup> |  | 250 |  | 239188 |
|  |  |  |  | 17400372 |
| **Diversified Telecommunication Services<sup>(e)(j)</sup> — 0.1%** | **Diversified Telecommunication Services<sup>(e)(j)</sup> — 0.1%** | **Diversified Telecommunication Services<sup>(e)(j)</sup> — 0.1%** |  |  |
|  Telefonica Europe BV |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.13% | EUR | 100 |  | 113471 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.14%<sup>(k)</sup> |  | 200 |  | 213716 |
|  |  |  |  | 327187 |
| **Electric Utilities — 0.5%** |  |  |  |  |
|  Edison International, Series B, 5.00%<sup>(j)</sup> | USD | 220 |  | 195600 |
|  EDP - Energias de Portugal SA, 5.94%, 04/23/83<sup>(e)</sup> | EUR | 100 |  | 108514 |
|  NextEra Energy Capital Holdings, Inc., 5.65%, 05/01/79<sup>(f)</sup> | USD | 2500 |  | 2385552 |
|  |  |  |  | 2689666 |
| **Independent Power and Renewable Electricity Producers — 0.1%** | **Independent Power and Renewable Electricity Producers — 0.1%** | **Independent Power and Renewable Electricity Producers — 0.1%** | **Independent Power and Renewable Electricity Producers — 0.1%** | **Independent Power and Renewable Electricity Producers — 0.1%** |
|  Vistra Corp., 7.00%<sup>(c)(j)</sup> |  | 307 |  | 287045 |
| **Media — 0.0%** |  |  |  |  |
|  SES SA, 2.88%<sup>(e)(j)</sup> | EUR | 100 |  | 91404 |
|  Oil, Gas & Consumable Fuels<sup>(e)(j)</sup> — 0.0% |  |  |  |  |
|  Abertis Infraestructuras Finance BV, 3.25% |  | 100 |  | 97833 |
|  Repsol International Finance BV, 4.25% |  | 100 |  | 98931 |
|  |  |  |  | 196764 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par<br>(000)* | *Value* |
|  **Real Estate Management & Development — 0.0%** | **Real Estate Management & Development — 0.0%** | **Real Estate Management & Development — 0.0%** | **Real Estate Management & Development — 0.0%** |
|  Aroundtown SA, 3.38%<sup>(e)(j)</sup> | EUR | 100 | $52920 |
| **Utilities — 0.0%** |  |  |  |
|  Electricite de France SA, 3.00%<sup>(e)(j)</sup> |  | 200 | 183729 |
| **Wireless Telecommunication Services — 0.0%** | **Wireless Telecommunication Services — 0.0%** | **Wireless Telecommunication Services — 0.0%** | **Wireless Telecommunication Services — 0.0%** |
|  Vodafone Group PLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 06/04/81 | USD | 58 | 50315 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 08/27/80<sup>(e)</sup> | EUR | 100 | 98298 |
|  |  |  | 148613 |
|  |  |  | 36605194 |
|  |  | *Shares* |  |
|  **Preferred Stocks — 2.4%<sup>(b)(j)</sup>** |  |  |  |
| **Capital Markets — 2.4%** |  |  |  |
|  Goldman Sachs Group, Inc., Series J |  | 395017 | 9855674 |
|  Morgan Stanley |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series F |  | 100000 | 2522000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series K |  | 60125 | 1512144 |
|  |  |  | 13889818 |
|  **Total Preferred Securities — 8.8%<br>(Cost: $53,382,843)** | **Total Preferred Securities — 8.8%<br>(Cost: $53,382,843)** | **Total Preferred Securities — 8.8%<br>(Cost: $53,382,843)** | 50495012 |
|  |  | *Par<br>(000)* |  |
|  **U.S. Government Sponsored Agency Securities** | **U.S. Government Sponsored Agency Securities** | **U.S. Government Sponsored Agency Securities** | **U.S. Government Sponsored Agency Securities** |
|  **Collateralized Mortgage Obligations — 0.9%** | **Collateralized Mortgage Obligations — 0.9%** | **Collateralized Mortgage Obligations — 0.9%** | **Collateralized Mortgage Obligations — 0.9%** |
|  Freddie Mac REMICS, Series 4480, Class ZX, 4.00%, 11/15/44 | USD | 4991 | 4854150 |
|  Ginnie Mae, Series 2017-136, Class GB, 3.00%, 03/20/47 |  | 636 | 595980 |
|  |  |  | 5450130 |
| **Mortgage-Backed Securities — 23.0%** |  |  |  |
|  Fannie Mae Mortgage-Backed Securities<sup>(f)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 07/01/55 |  | 6951 | 7053747 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 02/01/56 - 04/01/56 |  | 7469 | 7360582 |
|  Uniform Mortgage-Backed Securities<sup>(p)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 11/01/23 - 03/13/53<sup>(f)</sup> |  | 36155 | 35868766 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 02/01/34 - 02/13/53<sup>(f)</sup> |  | 65216 | 63345666 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 02/13/53 - 03/13/53 |  | 7000 | 6564755 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 02/13/53 |  | 11000 | 11040391 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131233907 |
|  **Total U.S. Government Sponsored Agency Securities — 23.9%<br>(Cost: $140,130,175)** | **Total U.S. Government Sponsored Agency Securities — 23.9%<br>(Cost: $140,130,175)** | **Total U.S. Government Sponsored Agency Securities — 23.9%<br>(Cost: $140,130,175)** | 136684037 |

---

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Multi-Sector Income Trust (BIT)**<br> **(Percentages shown are based on Net Assets)** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)* | *Value* |
|  **U.S. Treasury Obligations** |  |  |  |
|  U.S. Treasury Notes, 3.25%, 08/31/24<sup>(f)</sup> | USD | 14300 | 14042488 |
|  **Total U.S. Treasury Obligations — 2.5%<br>(Cost: $14,232,509)** | **Total U.S. Treasury Obligations — 2.5%<br>(Cost: $14,232,509)** | **Total U.S. Treasury Obligations — 2.5%<br>(Cost: $14,232,509)** | 14042488 |
|  |  | *Shares* |  |
|  **Warrants** |  |  |  |
|  **Entertainment — 0.0%** |  |  |  |
|  Aviron Capital LLC (Expires 12/16/31)<sup>(a)(m)</sup> |  | 10 | $— |
|  **Total Warrants — 0.0%<br>(Cost: $—)** |  |  |  |
|  **Total Long-Term Investments — 156.2%<br>(Cost: $956,094,730)** | **Total Long-Term Investments — 156.2%<br>(Cost: $956,094,730)** | **Total Long-Term Investments — 156.2%<br>(Cost: $956,094,730)** | 892247324 |
|  **Short-Term Securities** |  |  |  |
|  **Money Market Funds — 2.6%** |  |  |  |
|  BlackRock Liquidity Funds, T-Fund, Institutional Class,<br>4.07%<sup>(q)(r)</sup> |  | 14712038 | 14712038 |
|  **Total Short-Term Securities — 2.6%<br>(Cost: $14,712,038)** | **Total Short-Term Securities — 2.6%<br>(Cost: $14,712,038)** | **Total Short-Term Securities — 2.6%<br>(Cost: $14,712,038)** | 14712038 |
|  **Total Investments Before TBA Sale Commitments — 158.8%<br>(Cost: $970,806,768)** | **Total Investments Before TBA Sale Commitments — 158.8%<br>(Cost: $970,806,768)** | **Total Investments Before TBA Sale Commitments — 158.8%<br>(Cost: $970,806,768)** | 906959362 |
|  |  | *Par*<br> *(000)* |  |
|  **TBA Sale Commitments<sup>(p)</sup>** |  |  |  |
|  **Mortgage-Backed Securities — (1.7)%** | **Mortgage-Backed Securities — (1.7)%** | **Mortgage-Backed Securities — (1.7)%** |  |
|  Uniform Mortgage-Backed Securities |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 02/13/53 | USD | (2500) | (2344381) |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 02/13/53 |  | (7400) | (7307500) |
|  **Total TBA Sale Commitments — (1.7)%<br>(Proceeds: $(9632974))** | **Total TBA Sale Commitments — (1.7)%<br>(Proceeds: $(9632974))** | **Total TBA Sale Commitments — (1.7)%<br>(Proceeds: $(9632974))** | (9651881) |
|  **Total Investments, Net of TBA Sale Commitments — 157.1%<br>(Cost: $961,173,794)** | **Total Investments, Net of TBA Sale Commitments — 157.1%<br>(Cost: $961,173,794)** | **Total Investments, Net of TBA Sale Commitments — 157.1%<br>(Cost: $961,173,794)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;897307481 |
|  **Liabilities in Excess of Other Assets — (57.1)%** | **Liabilities in Excess of Other Assets — (57.1)%** | **Liabilities in Excess of Other Assets — (57.1)%** | (325996142) |
|  **Net Assets — 100.0%** |  |  | $571311339 |

---

<sup>(a)</sup> Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.

<sup>(b)</sup> Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available.

<sup>(c)</sup> Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.

<sup>(d)</sup> Rounds to less than 1,000.

<sup>(e)</sup> This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933.

<sup>(f)</sup> All or a portion of the security has been pledged as collateral in connection with outstanding reverse repurchase agreements.

<sup>(g)</sup> Payment-in-kind security which may pay interest/dividends in additional par/shares and/or in cash. Rates shown are the current rate and possible payment rates.

<sup>(h)</sup> Convertible security.

<sup>(i)</sup> Zero-coupon bond.

<sup>(j)</sup> Perpetual security with no stated maturity date.

<sup>(k)</sup> When-issued security.

<sup>(l)</sup> Issuer filed for bankruptcy and/or is in default.

<sup>(m)</sup> Non-income producing security.

<sup>(n)</sup> Step-up bond that pays an initial coupon rate for the first period and then a higher coupon rate for the following periods. Rate as of period end.

<sup>(o)</sup> Represents an unsettled loan commitment at period end. Certain details associated with this purchase are not known prior to the settlement date, including coupon rate.

<sup>(p)</sup> Represents or includes a TBA transaction.

<sup>(q)</sup> Affiliate of the Trust.

<sup>(r)</sup> Annualized 7-day yield as of period end.

For Trust compliance purposes, the Trust's industry classifications refer to one or more of the industry sub-classifications used by one or more widely recognized market indexes or rating group indexes, and/or as defined by the investment adviser. These definitions may not apply for purposes of this report, which may combine such industry sub-classifications for reporting ease.

**Affiliates** 

Investments in issuers considered to be affiliate(s) of the Trust during the period ended January 31, 2023 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at<br>10/31/22* | *Purchases<br>at Cost* | *Proceeds<br>from Sales* | *Value at<br>01/31/23* | *Shares<br>Held at<br>01/31/23* | *Income* | *Capital Gain<br>Distributions<br>from<br>Underlying<br>Funds* |
|  BlackRock Liquidity Funds, T-Fund, Institutional Class | $11782913 | $2929125 <sup>(a)</sup> | $– $– $– $| 14712038 | 14712038 | $102128 | $— |

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<sup>(a)</sup> Represents net amount purchased (sold). 

S C H E D U L E O F I N V E S T M E N T S 24

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| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Multi-Sector Income Trust (BIT)** |

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**Reverse Repurchase Agreements** 

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  *Counterparty* | *Interest<br>Rate* | *Trade<br>Date* | *Maturity<br>Date* | *<br><sup>(a)</sup>* | *Face Value* | | *Face Value<br>Including<br>Accrued Interest* | *Type of Non-Cash Underlying<br>Collateral* | *Remaining<br>Contractual Maturity<br>of the Agreements* |
|  Credit Agricole Corporate and Investment Bank | 4.37 %<sup>(b)</sup> | 09/12/22 | Open |  | $14228500 |  | $14383673 | U.S. Treasury Obligations | Open/Demand |
|  Barclays Bank PLC | 4.50 <sup>(b)</sup> | 11/29/22 | Open |  | 1522306 |  | 1533660 | Corporate Bonds | Open/Demand |
|  Barclays Bank PLC | 4.50 <sup>(b)</sup> | 11/29/22 | Open |  | 2034175 |  | 2049347 | Capital Trusts | Open/Demand |
|  Barclays Bank PLC | 4.55 <sup>(b)</sup> | 11/29/22 | Open |  | 467337 |  | 470864 | Corporate Bonds | Open/Demand |
|  Barclays Bank PLC | 4.55 <sup>(b)</sup> | 11/29/22 | Open |  | 3700406 |  | 3728329 | Capital Trusts | Open/Demand |
|  Barclays Bank PLC | 4.55 <sup>(b)</sup> | 11/29/22 | Open |  | 803750 |  | 809815 | Capital Trusts | Open/Demand |
|  Barclays Bank PLC | 4.55 <sup>(b)</sup> | 11/29/22 | Open |  | 160713 |  | 161925 | Capital Trusts | Open/Demand |
|  Barclays Bank PLC | 4.55 <sup>(b)</sup> | 11/29/22 | Open |  | 1682500 |  | 1695196 | Corporate Bonds | Open/Demand |
|  Barclays Bank PLC | 4.55 <sup>(b)</sup> | 11/29/22 | Open |  | 1285444 |  | 1295143 | Corporate Bonds | Open/Demand |
|  Barclays Capital, Inc. | (1.75)<sup>(b)</sup> | 11/29/22 | Open |  | 263294 |  | 262487 | Corporate Bonds | Open/Demand |
|  Barclays Capital, Inc. | 4.55 <sup>(b)</sup> | 11/29/22 | Open |  | 324919 |  | 327371 | Capital Trusts | Open/Demand |
|  BNP Paribas S.A. | 4.40 <sup>(b)</sup> | 11/29/22 | Open |  | 413100 |  | 416109 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. | 4.54 <sup>(b)</sup> | 11/29/22 | Open |  | 598812 |  | 603321 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. | 4.58 <sup>(b)</sup> | 11/29/22 | Open |  | 870056 |  | 876667 | Foreign Agency Obligations | Open/Demand |
|  Credit Agricole Corporate and Investment Bank | 4.50 <sup>(b)</sup> | 11/29/22 | Open |  | 800000 |  | 805967 | Corporate Bonds | Open/Demand |
|  Credit Agricole Corporate and Investment Bank | 4.50 <sup>(b)</sup> | 11/29/22 | Open |  | 342543 |  | 345097 | Corporate Bonds | Open/Demand |
|  Credit Agricole Corporate and Investment Bank | 4.50 <sup>(b)</sup> | 11/29/22 | Open |  | 413750 |  | 416836 | Corporate Bonds | Open/Demand |
|  Credit Agricole Corporate and Investment Bank | 4.52 <sup>(b)</sup> | 11/29/22 | Open |  | 184361 |  | 185743 | Foreign Agency Obligations | Open/Demand |
|  Credit Agricole Corporate and Investment Bank | 4.52 <sup>(b)</sup> | 11/29/22 | Open |  | 288844 |  | 291008 | Corporate Bonds | Open/Demand |
|  Credit Agricole Corporate and Investment Bank | 4.55 <sup>(b)</sup> | 11/29/22 | Open |  | 1089375 |  | 1097595 | Capital Trusts | Open/Demand |
|  Credit Agricole Corporate and Investment Bank | 4.60 <sup>(b)</sup> | 11/29/22 | Open |  | 499987 |  | 503804 | Corporate Bonds | Open/Demand |
|  Credit Suisse Securities (USA) LLC | 4.50 <sup>(b)</sup> | 11/29/22 | Open |  | 113975 |  | 114825 | Corporate Bonds | Open/Demand |
|  Nomura Securities International, Inc. | 4.48 <sup>(b)</sup> | 11/29/22 | Open |  | 403750 |  | 406747 | Corporate Bonds | Open/Demand |
|  Nomura Securities International, Inc. | 4.48 <sup>(b)</sup> | 11/29/22 | Open |  | 1589680 |  | 1601481 | Corporate Bonds | Open/Demand |
|  Nomura Securities International, Inc. | 4.48 <sup>(b)</sup> | 11/29/22 | Open |  | 869586 |  | 876041 | Corporate Bonds | Open/Demand |
|  Nomura Securities International, Inc. | 4.48 <sup>(b)</sup> | 11/29/22 | Open |  | 371875 |  | 374636 | Corporate Bonds | Open/Demand |
|  Nomura Securities International, Inc. | 4.48 <sup>(b)</sup> | 11/29/22 | Open |  | 1451250 |  | 1462023 | Corporate Bonds | Open/Demand |
|  Nomura Securities International, Inc. | 4.48 <sup>(b)</sup> | 11/29/22 | Open |  | 718620 |  | 723955 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets, LLC | 4.50 <sup>(b)</sup> | 11/29/22 | Open |  | 200900 |  | 202398 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets, LLC | 4.50 <sup>(b)</sup> | 11/29/22 | Open |  | 209688 |  | 211251 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets, LLC | 4.50 <sup>(b)</sup> | 11/29/22 | Open |  | 92130 |  | 92817 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets, LLC | 4.50 <sup>(b)</sup> | 11/29/22 | Open |  | 1930706 |  | 1945106 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets, LLC | 4.53 <sup>(b)</sup> | 11/29/22 | Open |  | 282625 |  | 284748 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets, LLC | 4.53 <sup>(b)</sup> | 11/29/22 | Open |  | 1636250 |  | 1648540 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets, LLC | 4.53 <sup>(b)</sup> | 11/29/22 | Open |  | 454375 |  | 457788 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets, LLC | 4.53 <sup>(b)</sup> | 11/29/22 | Open |  | 2331250 |  | 2348760 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets, LLC | 4.63 <sup>(b)</sup> | 11/29/22 | Open |  | 956250 |  | 963600 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets, LLC | 4.63 <sup>(b)</sup> | 11/29/22 | Open |  | 41274 |  | 41591 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets, LLC | 4.63 <sup>(b)</sup> | 11/29/22 | Open |  | 297413 |  | 299698 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets, LLC | 4.63 <sup>(b)</sup> | 11/29/22 | Open |  | 126189 |  | 127159 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets, LLC | 4.63 <sup>(b)</sup> | 11/29/22 | Open |  | 590000 |  | 594535 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets, LLC | 4.63 <sup>(b)</sup> | 11/29/22 | Open |  | 626780 |  | 631597 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets, LLC | 4.63 <sup>(b)</sup> | 11/29/22 | Open |  | 145600 |  | 146719 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets, LLC | 4.63 <sup>(b)</sup> | 11/29/22 | Open |  | 909637 |  | 916629 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets, LLC | 4.63 <sup>(b)</sup> | 11/29/22 | Open |  | 354914 |  | 357642 | Corporate Bonds | Open/Demand |
|  TD Securities (USA) LLC | 4.50 <sup>(b)</sup> | 11/29/22 | Open |  | 301840 |  | 304091 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. | 4.32 <sup>(b)</sup> | 12/01/22 | Open |  | 1021250 |  | 1028328 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. | 4.15 <sup>(b)</sup> | 12/05/22 | Open |  | 210473 |  | 211785 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. | 4.40 <sup>(b)</sup> | 12/08/22 | Open |  | 2635800 |  | 2652428 | Capital Trusts | Open/Demand |
|  BNP Paribas S.A. | 4.45 <sup>(b)</sup> | 12/08/22 | Open |  | 759375 |  | 764222 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. | 4.50 <sup>(b)</sup> | 12/08/22 | Open |  | 1031176 |  | 1037836 | Corporate Bonds | Open/Demand |
|  Credit Agricole Corporate and Investment Bank | 4.52 <sup>(b)</sup> | 12/08/22 | Open |  | 706860 |  | 711446 | Foreign Agency Obligations | Open/Demand |

---

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Multi-Sector Income Trust (BIT)** |

---

**Reverse Repurchase Agreements (continued)** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  *Counterparty* | *Interest<br>Rate* | *Trade<br>Date* | *Maturity<br>Date* | *<br><sup>(a)</sup>* | *Face<br>Value* | *Face Value<br>Including<br>Accrued Interest* | *Type of Non-Cash Underlying<br>Collateral* | *Remaining<br>Contractual Maturity<br>of the Agreements* |
|  Credit Agricole Corporate and Investment Bank | 4.57 %<sup>(b)</sup> | 12/08/22 | Open |  | $330633 | $332803 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. | 4.45 <sup>(b)</sup> | 12/09/22 | Open |  | 340375 | 342436 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. | 4.39 <sup>(b)</sup> | 12/12/22 | Open |  | 976449 | 982172 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. | 4.45 <sup>(b)</sup> | 12/13/22 | Open |  | 753750 | 758148 | Corporate Bonds | Open/Demand |
|  Nomura Securities International, Inc. | 4.48 <sup>(b)</sup> | 12/13/22 | Open |  | 315560 | 317414 | Corporate Bonds | Open/Demand |
|  BofA Securities, Inc. | 1.50 | 12/15/22 | 02/03/23 |  | 423000 | 423828 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 3.50 | 12/15/22 | 02/03/23 |  | 562500 | 565070 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 3.50 | 12/15/22 | 02/03/23 |  | 256172 | 257342 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.35 | 12/15/22 | 02/03/23 |  | 239181 | 240540 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.35 | 12/15/22 | 02/03/23 |  | 244241 | 245628 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.40 | 12/15/22 | 02/03/23 |  | 439061 | 441583 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.40 | 12/15/22 | 02/03/23 |  | 480192 | 482951 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.40 | 12/15/22 | 02/03/23 |  | 292500 | 294180 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.40 | 12/15/22 | 02/03/23 |  | 238000 | 239367 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.40 | 12/15/22 | 02/03/23 |  | 295103 | 296798 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.40 | 12/15/22 | 02/03/23 |  | 352500 | 354525 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.40 | 12/15/22 | 02/03/23 |  | 410250 | 412607 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.40 | 12/15/22 | 02/03/23 |  | 326149 | 328022 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.40 | 12/15/22 | 02/03/23 |  | 788857 | 793389 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.40 | 12/15/22 | 02/03/23 |  | 318600 | 320430 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.40 | 12/15/22 | 02/03/23 |  | 77350 | 77794 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.40 | 12/15/22 | 02/03/23 |  | 358750 | 360811 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.40 | 12/15/22 | 02/03/23 |  | 729386 | 733576 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.40 | 12/15/22 | 02/03/23 |  | 840000 | 844825 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.40 | 12/15/22 | 02/03/23 |  | 996125 | 1001847 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.40 | 12/15/22 | 02/03/23 |  | 657975 | 661755 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.40 | 12/15/22 | 02/03/23 |  | 495300 | 498145 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.40 | 12/15/22 | 02/03/23 |  | 657519 | 661296 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.40 | 12/15/22 | 02/03/23 |  | 570931 | 574211 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.40 | 12/15/22 | 02/03/23 |  | 588679 | 592060 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.40 | 12/15/22 | 02/03/23 |  | 147500 | 148347 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.40 | 12/15/22 | 02/03/23 |  | 104813 | 105415 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.40 | 12/15/22 | 02/03/23 |  | 471250 | 473957 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.40 | 12/15/22 | 02/03/23 |  | 415245 | 417630 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.40 | 12/15/22 | 02/03/23 |  | 565875 | 569126 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.40 | 12/15/22 | 02/03/23 |  | 247015 | 248434 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.40 | 12/15/22 | 02/03/23 |  | 580222 | 583556 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.40 | 12/15/22 | 02/03/23 |  | 108134 | 108755 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.45 | 12/15/22 | 02/03/23 |  | 363140 | 365250 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.45 | 12/15/22 | 02/03/23 |  | 1152380 | 1159075 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.45 | 12/15/22 | 02/03/23 |  | 320000 | 321859 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.45 | 12/15/22 | 02/03/23 |  | 172550 | 173552 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.45 | 12/15/22 | 02/03/23 |  | 510480 | 513446 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.45 | 12/15/22 | 02/03/23 |  | 817931 | 822683 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.45 | 12/15/22 | 02/03/23 |  | 352800 | 354850 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.45 | 12/15/22 | 02/03/23 |  | 269775 | 271342 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.45 | 12/15/22 | 02/03/23 |  | 314580 | 316408 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.45 | 12/15/22 | 02/03/23 |  | 726415 | 730636 | Foreign Agency Obligations | Up to 30 Days |
|  BofA Securities, Inc. | 4.46 | 12/15/22 | 02/03/23 |  | 1035075 | 1041102 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.48 | 12/15/22 | 02/03/23 |  | 2700000 | 2715792 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.50 | 12/15/22 | 02/03/23 |  | 296310 | 298051 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.50 | 12/15/22 | 02/03/23 |  | 327135 | 329057 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.50 | 12/15/22 | 02/03/23 |  | 680307 | 684304 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.50 | 12/15/22 | 02/03/23 |  | 120951 | 121662 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.50 | 12/15/22 | 02/03/23 |  | 300931 | 302699 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.50 | 12/15/22 | 02/03/23 |  | 680000 | 683995 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.50 | 12/15/22 | 02/03/23 |  | 413572 | 416002 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.50 | 12/15/22 | 02/03/23 |  | 744175 | 748547 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.50 | 12/15/22 | 02/03/23 |  | 345263 | 347291 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.50 | 12/15/22 | 02/03/23 |  | 459360 | 462059 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.50 | 12/15/22 | 02/03/23 |  | 389900 | 392191 | Corporate Bonds | Up to 30 Days |

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S C H E D U L E O F I N V E S T M E N T S 26

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| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Multi-Sector Income Trust (BIT)** |

---

**Reverse Repurchase Agreements (continued)** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  *Counterparty* | *Interest<br>Rate* | *Trade<br>Date* | *Maturity<br>Date* | *<br><sup>(a)</sup>* | *Face<br>Value* | *Face Value<br>Including<br>Accrued Interest* | *Type of Non-Cash Underlying<br>Collateral* | *Remaining<br>Contractual Maturity<br>of the Agreements* |
|  BofA Securities, Inc. | 4.50% | 12/15/22 | 02/03/23 |  | $641981 | $645753 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.50 | 12/15/22 | 02/03/23 |  | 366875 | 369030 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.50 | 12/15/22 | 02/03/23 |  | 248078 | 249535 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.50 | 12/15/22 | 02/03/23 |  | 244400 | 245836 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.50 | 12/15/22 | 02/03/23 |  | 393269 | 395579 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.50 | 12/15/22 | 02/03/23 |  | 165444 | 166416 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.50 | 12/15/22 | 02/03/23 |  | 1026079 | 1032107 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.50 | 12/15/22 | 02/03/23 |  | 167781 | 168767 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.50 | 12/15/22 | 02/03/23 |  | 310905 | 312732 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.50 | 12/15/22 | 02/03/23 |  | 593392 | 596879 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.50 | 12/15/22 | 02/03/23 |  | 79013 | 79477 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.50 | 12/15/22 | 02/03/23 |  | 544390 | 547588 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.50 | 12/15/22 | 02/03/23 |  | 364375 | 366516 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.50 | 12/15/22 | 02/03/23 |  | 290306 | 292012 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.50 | 12/15/22 | 02/03/23 |  | 902239 | 907539 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.50 | 12/15/22 | 02/03/23 |  | 431796 | 434333 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.50 | 12/15/22 | 02/03/23 |  | 447056 | 449683 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.50 | 12/15/22 | 02/03/23 |  | 217808 | 219087 | Foreign Agency Obligations | Up to 30 Days |
|  BofA Securities, Inc. | 4.50 | 12/15/22 | 02/03/23 |  | 6886000 | 6926455 | Capital Trusts | Up to 30 Days |
|  BofA Securities, Inc. | 4.55 | 12/15/22 | 02/03/23 |  | 257950 | 259482 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.60 | 12/15/22 | 02/03/23 |  | 704820 | 709053 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.60 | 12/16/22 | 02/03/23 |  | 940844 | 946133 | Corporate Bonds | Up to 30 Days |
|  BNP Paribas S.A. | 4.55 <sup>(b)</sup> | 12/16/22 | Open |  | 1006761 | 1012360 | Corporate Bonds | Open/Demand |
|  TD Securities (USA) LLC | 4.50 <sup>(b)</sup> | 12/21/22 | Open |  | 195263 | 196263 | Corporate Bonds | Open/Demand |
|  TD Securities (USA) LLC | 4.50 <sup>(b)</sup> | 12/21/22 | Open |  | 78593 | 78995 | Corporate Bonds | Open/Demand |
|  TD Securities (USA) LLC | 4.50 <sup>(b)</sup> | 12/21/22 | Open |  | 227100 | 228264 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. | 4.40 <sup>(b)</sup> | 12/23/22 | Open |  | 443602 | 445554 | Corporate Bonds | Open/Demand |
|  Barclays Bank PLC | 4.10 <sup>(b)</sup> | 12/28/22 | Open |  | 3250000 | 3262585 | Corporate Bonds | Open/Demand |
|  Barclays Capital, Inc. | (3.00)<sup>(b)</sup> | 12/28/22 | Open |  | 33581 | 33486 | Corporate Bonds | Open/Demand |
|  Barclays Capital, Inc. | 4.50 <sup>(b)</sup> | 12/28/22 | Open |  | 717925 | 720976 | Corporate Bonds | Open/Demand |
|  Barclays Capital, Inc. | 4.50 <sup>(b)</sup> | 12/28/22 | Open |  | 331925 | 333336 | Corporate Bonds | Open/Demand |
|  Barclays Capital, Inc. | 4.55 <sup>(b)</sup> | 12/28/22 | Open |  | 649112 | 651901 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. | 4.53 <sup>(b)</sup> | 12/28/22 | Open |  | 339183 | 340634 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. | 4.60 <sup>(b)</sup> | 12/28/22 | Open |  | 897110 | 901007 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. | 4.65 <sup>(b)</sup> | 12/28/22 | Open |  | 1673280 | 1680628 | Corporate Bonds | Open/Demand |
|  Credit Agricole Corporate and Investment Bank | 4.52 <sup>(b)</sup> | 12/28/22 | Open |  | 474370 | 476395 | Foreign Agency Obligations | Open/Demand |
|  HSBC Securities (USA), Inc. | 4.50 <sup>(b)</sup> | 12/28/22 | Open |  | 205155 | 206027 | Corporate Bonds | Open/Demand |
|  HSBC Securities (USA), Inc. | 4.50 <sup>(b)</sup> | 12/28/22 | Open |  | 168236 | 168951 | Corporate Bonds | Open/Demand |
|  HSBC Securities (USA), Inc. | 4.50 <sup>(b)</sup> | 12/28/22 | Open |  | 408425 | 410161 | Corporate Bonds | Open/Demand |
|  HSBC Securities (USA), Inc. | 4.50 <sup>(b)</sup> | 12/28/22 | Open |  | 304500 | 305794 | Corporate Bonds | Open/Demand |
|  HSBC Securities (USA), Inc. | 4.50 <sup>(b)</sup> | 12/28/22 | Open |  | 210835 | 211731 | Corporate Bonds | Open/Demand |
|  HSBC Securities (USA), Inc. | 4.50 <sup>(b)</sup> | 12/28/22 | Open |  | 455000 | 456934 | Corporate Bonds | Open/Demand |
|  Nomura Securities International, Inc. | 4.35 <sup>(b)</sup> | 12/28/22 | Open |  | 278438 | 279581 | Corporate Bonds | Open/Demand |
|  Nomura Securities International, Inc. | 4.45 <sup>(b)</sup> | 12/28/22 | Open |  | 887500 | 891230 | Corporate Bonds | Open/Demand |
|  Nomura Securities International, Inc. | 4.48 <sup>(b)</sup> | 12/28/22 | Open |  | 236220 | 237219 | Corporate Bonds | Open/Demand |
|  Nomura Securities International, Inc. | 4.48 <sup>(b)</sup> | 12/28/22 | Open |  | 619822 | 622445 | Corporate Bonds | Open/Demand |
|  Nomura Securities International, Inc. | 4.48 <sup>(b)</sup> | 12/28/22 | Open |  | 245875 | 246915 | Corporate Bonds | Open/Demand |
|  Nomura Securities International, Inc. | 4.48 <sup>(b)</sup> | 12/28/22 | Open |  | 574762 | 577194 | Corporate Bonds | Open/Demand |
|  Nomura Securities International, Inc. | 4.48 <sup>(b)</sup> | 12/28/22 | Open |  | 366233 | 367782 | Corporate Bonds | Open/Demand |
|  Nomura Securities International, Inc. | 4.48 <sup>(b)</sup> | 12/28/22 | Open |  | 224556 | 225506 | Corporate Bonds | Open/Demand |
|  Nomura Securities International, Inc. | 4.48 <sup>(b)</sup> | 12/28/22 | Open |  | 368566 | 370126 | Corporate Bonds | Open/Demand |
|  Nomura Securities International, Inc. | 4.48 <sup>(b)</sup> | 12/28/22 | Open |  | 234720 | 235713 | Corporate Bonds | Open/Demand |
|  Nomura Securities International, Inc. | 4.48 <sup>(b)</sup> | 12/28/22 | Open |  | 417656 | 419423 | Corporate Bonds | Open/Demand |
|  Nomura Securities International, Inc. | 4.57 <sup>(b)</sup> | 12/28/22 | Open |  | 709840 | 712904 | Corporate Bonds | Open/Demand |
|  Nomura Securities International, Inc. | 4.57 <sup>(b)</sup> | 12/28/22 | Open |  | 602525 | 605126 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets, LLC | 4.50 <sup>(b)</sup> | 12/28/22 | Open |  | 410750 | 412496 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets, LLC | 4.50 <sup>(b)</sup> | 12/28/22 | Open |  | 164688 | 165387 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets, LLC | 4.50 <sup>(b)</sup> | 12/28/22 | Open |  | 206594 | 207472 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets, LLC | 4.53 <sup>(b)</sup> | 12/28/22 | Open |  | 268988 | 270138 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets, LLC | 4.63 <sup>(b)</sup> | 12/28/22 | Open |  | 585892 | 588454 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets, LLC | 4.65 <sup>(b)</sup> | 12/28/22 | Open |  | 2139825 | 2149222 | Corporate Bonds | Open/Demand |

---

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Multi-Sector Income Trust (BIT)** |

---

**Reverse Repurchase Agreements (continued)** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  *Counterparty* | *Interest<br>Rate* | *Trade<br>Date* | *Maturity<br>Date* | *<br><sup>(a)</sup>* | *Face<br>Value* | *Face Value<br>Including<br>Accrued Interest* | *Type of Non-Cash Underlying<br>Collateral* | *Remaining<br>Contractual Maturity<br>of the Agreements* |
|  RBC Capital Markets, LLC | 4.65 %<sup>(b)</sup> | 12/28/22 | Open |  | $1114370 | $1119264 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets, LLC | 4.65 <sup>(b)</sup> | 12/28/22 | Open |  | 1407835 | 1414018 | Corporate Bonds | Open/Demand |
|  TD Securities (USA) LLC | 4.50 <sup>(b)</sup> | 12/28/22 | Open |  | 370631 | 372206 | Corporate Bonds | Open/Demand |
|  TD Securities (USA) LLC | 4.50 <sup>(b)</sup> | 12/28/22 | Open |  | 383644 | 385274 | Corporate Bonds | Open/Demand |
|  TD Securities (USA) LLC | 4.50 <sup>(b)</sup> | 12/28/22 | Open |  | 1015062 | 1019377 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets, LLC | 4.15 <sup>(b)</sup> | 12/30/22 | Open |  | 320431 | 321650 | Corporate Bonds | Open/Demand |
|  BofA Securities, Inc. | 4.00 | 01/04/23 | 02/03/23 |  | 2625000 | 2632875 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.00 | 01/04/23 | 02/03/23 |  | 199325 | 199923 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.15 | 01/04/23 | 02/03/23 |  | 803562 | 806064 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.15 | 01/04/23 | 02/03/23 |  | 928869 | 931760 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.40 | 01/04/23 | 02/03/23 |  | 216169 | 216882 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.40 | 01/04/23 | 02/03/23 |  | 163724 | 164264 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.40 | 01/04/23 | 02/03/23 |  | 221108 | 221837 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.45 | 01/04/23 | 02/03/23 |  | 351250 | 352422 | Corporate Bonds | Up to 30 Days |
|  TD Securities (USA) LLC | 4.49 <sup>(b)</sup> | 01/04/23 | Open |  | 1938806 | 1945335 | Corporate Bonds | Open/Demand |
|  HSBC Securities (USA), Inc. | 4.50 <sup>(b)</sup> | 01/05/23 | Open |  | 294483 | 295440 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. | 4.49 <sup>(b)</sup> | 01/09/23 | Open |  | 235605 | 236251 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. | 4.49 <sup>(b)</sup> | 01/09/23 | Open |  | 468000 | 469284 | Corporate Bonds | Open/Demand |
|  Nomura Securities International, Inc. | 4.48 <sup>(b)</sup> | 01/09/23 | Open |  | 433007 | 434193 | Corporate Bonds | Open/Demand |
|  BofA Securities, Inc. | 4.50 | 01/10/23 | 02/03/23 |  | 499680 | 500992 | Corporate Bonds | Up to 30 Days |
|  J.P. Morgan Securities LLC | 0.75 | 01/10/23 | 02/08/23 |  | 344100 | 344251 | Corporate Bonds | Up to 30 Days |
|  J.P. Morgan Securities LLC | 4.30 | 01/10/23 | 02/08/23 |  | 864675 | 866844 | Corporate Bonds | Up to 30 Days |
|  J.P. Morgan Securities LLC | 4.30 | 01/10/23 | 02/08/23 |  | 930597 | 932932 | Corporate Bonds | Up to 30 Days |
|  J.P. Morgan Securities LLC | 4.45 | 01/10/23 | 02/08/23 |  | 427500 | 428610 | Corporate Bonds | Up to 30 Days |
|  J.P. Morgan Securities LLC | 4.55 | 01/10/23 | 02/08/23 |  | 1227016 | 1230272 | Corporate Bonds | Up to 30 Days |
|  J.P. Morgan Securities LLC | 4.55 | 01/10/23 | 02/08/23 |  | 887294 | 889649 | Corporate Bonds | Up to 30 Days |
|  J.P. Morgan Securities LLC | 4.55 | 01/10/23 | 02/08/23 |  | 792687 | 794791 | Corporate Bonds | Up to 30 Days |
|  BNP Paribas S.A. | 4.54 | 01/11/23 | 02/13/23 |  | 21669 | 21723 | U.S. Government Sponsored<br>Agency Securities | Up to 30 Days |
|  BNP Paribas S.A. | 4.54 | 01/11/23 | 02/13/23 |  | 2126535 | 2131898 | U.S. Government Sponsored<br>Agency Securities | Up to 30 Days |
|  BNP Paribas S.A. | 4.54 | 01/11/23 | 02/13/23 |  | 4963626 | 4976146 | U.S. Government Sponsored<br>Agency Securities | Up to 30 Days |
|  BNP Paribas S.A. | 4.54 | 01/11/23 | 02/13/23 |  | 117616 | 117912 | U.S. Government Sponsored<br>Agency Securities | Up to 30 Days |
|  BNP Paribas S.A. | 4.54 | 01/11/23 | 02/13/23 |  | 657742 | 659401 | U.S. Government Sponsored<br>Agency Securities | Up to 30 Days |
|  BNP Paribas S.A. | 4.54 | 01/11/23 | 02/13/23 |  | 31895 | 31975 | U.S. Government Sponsored<br>Agency Securities | Up to 30 Days |
|  BNP Paribas S.A. | 4.54 | 01/11/23 | 02/13/23 |  | 1138738 | 1141610 | U.S. Government Sponsored<br>Agency Securities | Up to 30 Days |
|  BNP Paribas S.A. | 4.54 | 01/11/23 | 02/13/23 |  | 709207 | 710996 | U.S. Government Sponsored<br>Agency Securities | Up to 30 Days |
|  BNP Paribas S.A. | 4.54 | 01/11/23 | 02/13/23 |  | 22404 | 22461 | U.S. Government Sponsored<br>Agency Securities | Up to 30 Days |
|  BNP Paribas S.A. | 4.54 | 01/11/23 | 02/13/23 |  | 164288 | 164703 | U.S. Government Sponsored<br>Agency Securities | Up to 30 Days |
|  BNP Paribas S.A. | 4.54 | 01/11/23 | 02/13/23 |  | 6810377 | 6827554 | U.S. Government Sponsored<br>Agency Securities | Up to 30 Days |
|  BNP Paribas S.A. | 4.54 | 01/11/23 | 02/13/23 |  | 1613609 | 1617679 | U.S. Government Sponsored<br>Agency Securities | Up to 30 Days |
|  BNP Paribas S.A. | 4.54 | 01/11/23 | 02/13/23 |  | 1526253 | 1530103 | U.S. Government Sponsored<br>Agency Securities | Up to 30 Days |
|  BNP Paribas S.A. | 4.54 | 01/11/23 | 02/13/23 |  | 126978 | 127298 | U.S. Government Sponsored<br>Agency Securities | Up to 30 Days |
|  BNP Paribas S.A. | 4.54 | 01/11/23 | 02/13/23 |  | 23679 | 23739 | U.S. Government Sponsored<br>Agency Securities | Up to 30 Days |
|  BNP Paribas S.A. | 4.54 | 01/11/23 | 02/13/23 |  | 1223222 | 1226307 | U.S. Government Sponsored<br>Agency Securities | Up to 30 Days |
|  BNP Paribas S.A. | 4.54 | 01/11/23 | 02/13/23 |  | 366702 | 367626 | U.S. Government Sponsored<br>Agency Securities | Up to 30 Days |

---

S C H E D U L E O F I N V E S T M E N T S 28

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Multi-Sector Income Trust (BIT)** |

---

**Reverse Repurchase Agreements (continued)** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  *Counterparty* | *Interest<br>Rate* | *Trade<br>Date* | *Maturity<br>Date* | *<br><sup>(a)</sup>* | *Face Value* | | *Face Value<br>Including<br>Accrued Interest* | *Type of Non-Cash Underlying<br>Collateral* | *Remaining<br>Contractual Maturity<br>of the Agreements* |
|  BNP Paribas S.A. | 4.54% | 01/11/23 | 02/13/23 |  | $1337581 |  | $1340955 | U.S. Government Sponsored<br>Agency Securities | Up to 30 Days |
|  BNP Paribas S.A. | 4.54 | 01/11/23 | 02/13/23 |  | 105176 |  | 105441 | U.S. Government Sponsored<br>Agency Securities | Up to 30 Days |
|  BNP Paribas S.A. | 4.54 | 01/11/23 | 02/13/23 |  | 242255 |  | 242866 | U.S. Government Sponsored<br>Agency Securities | Up to 30 Days |
|  BNP Paribas S.A. | 4.54 | 01/11/23 | 02/13/23 |  | 1291257 |  | 1294513 | U.S. Government Sponsored<br>Agency Securities | Up to 30 Days |
|  BNP Paribas S.A. | 4.54 | 01/11/23 | 02/13/23 |  | 27406 |  | 27475 | U.S. Government Sponsored<br>Agency Securities | Up to 30 Days |
|  BNP Paribas S.A. | 4.54 | 01/11/23 | 02/13/23 |  | 21134 |  | 21188 | U.S. Government Sponsored<br>Agency Securities | Up to 30 Days |
|  BNP Paribas S.A. | 4.54 | 01/11/23 | 02/13/23 |  | 1586792 |  | 1590795 | U.S. Government Sponsored<br>Agency Securities | Up to 30 Days |
|  BNP Paribas S.A. | 4.54 | 01/11/23 | 02/13/23 |  | 435314 |  | 436412 | U.S. Government Sponsored<br>Agency Securities | Up to 30 Days |
|  Cantor Fitzgerald & Co. | 4.54 | 01/11/23 | 02/13/23 |  | 1957671 |  | 1962609 | U.S. Government Sponsored<br>Agency Securities | Up to 30 Days |
|  Cantor Fitzgerald & Co. | 4.54 | 01/11/23 | 02/13/23 |  | 2962645 |  | 2970117 | U.S. Government Sponsored<br>Agency Securities | Up to 30 Days |
|  Cantor Fitzgerald & Co. | 4.54 | 01/11/23 | 02/13/23 |  | 3687609 |  | 3696910 | U.S. Government Sponsored<br>Agency Securities | Up to 30 Days |
|  Cantor Fitzgerald & Co. | 4.54 | 01/11/23 | 02/13/23 |  | 2152696 |  | 2158125 | U.S. Government Sponsored<br>Agency Securities | Up to 30 Days |
|  Cantor Fitzgerald & Co. | 4.54 | 01/11/23 | 02/13/23 |  | 1623776 |  | 1627872 | U.S. Government Sponsored<br>Agency Securities | Up to 30 Days |
|  Credit Agricole Corporate and Investment Bank | 4.53 | 01/11/23 | 02/13/23 |  | 41413378 |  | 41515491 | U.S. Government Sponsored<br>Agency Securities | Up to 30 Days |
|  BNP Paribas S.A. | 4.54 <sup>(b)</sup> | 01/11/23 | Open |  | 983645 |  | 986126 | Corporate Bonds | Open/Demand |
|  Barclays Bank PLC | 4.50 <sup>(b)</sup> | 01/12/23 | Open |  | 688125 |  | 689759 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. | 4.49 <sup>(b)</sup> | 01/12/23 | Open |  | 1277500 |  | 1280438 | Capital Trusts | Open/Demand |
|  BNP Paribas S.A. | 4.60 <sup>(b)</sup> | 01/12/23 | Open |  | 1215244 |  | 1218218 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. | 4.60 <sup>(b)</sup> | 01/12/23 | Open |  | 968365 |  | 970716 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. | 4.63 <sup>(b)</sup> | 01/12/23 | Open |  | 1492310 |  | 1495845 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. | 4.64 <sup>(b)</sup> | 01/12/23 | Open |  | 1196939 |  | 1199864 | Corporate Bonds | Open/Demand |
|  Credit Agricole Corporate and Investment Bank | 4.60 <sup>(b)</sup> | 01/12/23 | Open |  | 537259 |  | 538536 | Corporate Bonds | Open/Demand |
|  Credit Suisse Securities (USA) LLC | (1.75)<sup>(b)</sup> | 01/12/23 | Open |  | 103950 |  | 103851 | Corporate Bonds | Open/Demand |
|  HSBC Securities (USA), Inc. | 4.50 <sup>(b)</sup> | 01/12/23 | Open |  | 314356 |  | 315126 | Corporate Bonds | Open/Demand |
|  HSBC Securities (USA), Inc. | 4.50 <sup>(b)</sup> | 01/12/23 | Open |  | 570712 |  | 572105 | Corporate Bonds | Open/Demand |
|  HSBC Securities (USA), Inc. | 4.50 <sup>(b)</sup> | 01/12/23 | Open |  | 1039885 |  | 1042355 | Corporate Bonds | Open/Demand |
|  HSBC Securities (USA), Inc. | 4.50 <sup>(b)</sup> | 01/12/23 | Open |  | 750070 |  | 751851 | Corporate Bonds | Open/Demand |
|  Nomura Securities International, Inc. | 4.48 <sup>(b)</sup> | 01/12/23 | Open |  | 459000 |  | 460090 | Corporate Bonds | Open/Demand |
|  Nomura Securities International, Inc. | 4.48 <sup>(b)</sup> | 01/12/23 | Open |  | 1910000 |  | 1914516 | Corporate Bonds | Open/Demand |
|  Nomura Securities International, Inc. | 4.48 <sup>(b)</sup> | 01/12/23 | Open |  | 260205 |  | 260820 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets, LLC | (1.50)<sup>(b)</sup> | 01/12/23 | Open |  | 642006 |  | 641377 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets, LLC | 4.50 <sup>(b)</sup> | 01/12/23 | Open |  | 625600 |  | 627086 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets, LLC | 4.50 <sup>(b)</sup> | 01/12/23 | Open |  | 125125 |  | 125422 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets, LLC | 4.50 <sup>(b)</sup> | 01/12/23 | Open |  | 476885 |  | 478018 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets, LLC | 4.50 <sup>(b)</sup> | 01/12/23 | Open |  | 2041200 |  | 2046048 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets, LLC | 4.50 <sup>(b)</sup> | 01/12/23 | Open |  | 546637 |  | 547936 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets, LLC | 4.50 <sup>(b)</sup> | 01/12/23 | Open |  | 552125 |  | 553436 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets, LLC | 4.50 <sup>(b)</sup> | 01/12/23 | Open |  | 582562 |  | 583946 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets, LLC | 4.50 <sup>(b)</sup> | 01/12/23 | Open |  | 401062 |  | 402015 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets, LLC | 4.50 <sup>(b)</sup> | 01/12/23 | Open |  | 2048647 |  | 2053513 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets, LLC | 4.50 <sup>(b)</sup> | 01/12/23 | Open |  | 482950 |  | 484097 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets, LLC | 4.50 <sup>(b)</sup> | 01/12/23 | Open |  | 1115625 |  | 1118275 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets, LLC | 4.50 <sup>(b)</sup> | 01/12/23 | Open |  | 307663 |  | 308393 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets, LLC | 4.50 <sup>(b)</sup> | 01/12/23 | Open |  | 386000 |  | 386917 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets, LLC | 4.50 <sup>(b)</sup> | 01/12/23 | Open |  | 774375 |  | 776214 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets, LLC | 4.50 <sup>(b)</sup> | 01/12/23 | Open |  | 576625 |  | 577994 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets, LLC | 4.50 <sup>(b)</sup> | 01/12/23 | Open |  | 308000 |  | 308732 | Corporate Bonds | Open/Demand |

---

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Multi-Sector Income Trust (BIT)** |

---

**Reverse Repurchase Agreements (continued)** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  *Counterparty* | *Interest<br>Rate* | *Trade<br>Date* | *Maturity<br>Date* | *<br><sup>(a)</sup>* | *Face<br>Value* | *Face Value<br>Including<br>Accrued Interest* | *Type of Non-Cash Underlying<br>Collateral* | *Remaining<br>Contractual Maturity<br>of the Agreements* |
|  RBC Capital Markets, LLC | 4.50 %<sup>(b)</sup> | 01/12/23 | Open |  | $816000 | $817938 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets, LLC | 4.50 <sup>(b)</sup> | 01/12/23 | Open |  | 679687 | 681302 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets, LLC | 4.50 <sup>(b)</sup> | 01/12/23 | Open |  | 450000 | 451069 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets, LLC | 4.50 <sup>(b)</sup> | 01/12/23 | Open |  | 263113 | 263737 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets, LLC | 4.50 <sup>(b)</sup> | 01/12/23 | Open |  | 430000 | 431021 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets, LLC | 4.50 <sup>(b)</sup> | 01/12/23 | Open |  | 2204606 | 2209842 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets, LLC | 4.50 <sup>(b)</sup> | 01/12/23 | Open |  | 340863 | 341672 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets, LLC | 4.50 <sup>(b)</sup> | 01/12/23 | Open |  | 216494 | 217008 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets, LLC | 4.50 <sup>(b)</sup> | 01/12/23 | Open |  | 352500 | 353337 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets, LLC | 4.50 <sup>(b)</sup> | 01/12/23 | Open |  | 1316250 | 1319244 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets, LLC | 4.50 <sup>(b)</sup> | 01/12/23 | Open |  | 366000 | 366897 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets, LLC | 4.50 <sup>(b)</sup> | 01/12/23 | Open |  | 649250 | 650792 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets, LLC | 4.50 <sup>(b)</sup> | 01/12/23 | Open |  | 571875 | 573233 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets, LLC | 4.50 <sup>(b)</sup> | 01/12/23 | Open |  | 867500 | 869560 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets, LLC | 4.50 <sup>(b)</sup> | 01/12/23 | Open |  | 429375 | 430395 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets, LLC | 4.50 <sup>(b)</sup> | 01/12/23 | Open |  | 745875 | 747646 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets, LLC | 4.50 <sup>(b)</sup> | 01/12/23 | Open |  | 377500 | 378397 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets, LLC | 4.50 <sup>(b)</sup> | 01/12/23 | Open |  | 177813 | 178235 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets, LLC | 4.63 <sup>(b)</sup> | 01/12/23 | Open |  | 361400 | 362260 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets, LLC | 4.65 <sup>(b)</sup> | 01/12/23 | Open |  | 5694080 | 5707912 | Corporate Bonds | Open/Demand |
|  TD Securities (USA) LLC | 4.49 <sup>(b)</sup> | 01/12/23 | Open |  | 181316 | 181746 | Corporate Bonds | Open/Demand |
|  TD Securities (USA) LLC | 4.49 <sup>(b)</sup> | 01/12/23 | Open |  | 214498 | 215006 | Corporate Bonds | Open/Demand |
|  TD Securities (USA) LLC | 4.49 <sup>(b)</sup> | 01/12/23 | Open |  | 305509 | 306234 | Corporate Bonds | Open/Demand |
|  TD Securities (USA) LLC | 4.49 <sup>(b)</sup> | 01/12/23 | Open |  | 606815 | 608253 | Corporate Bonds | Open/Demand |
|  TD Securities (USA) LLC | 4.49 <sup>(b)</sup> | 01/12/23 | Open |  | 334431 | 335224 | Corporate Bonds | Open/Demand |
|  TD Securities (USA) LLC | 4.49 <sup>(b)</sup> | 01/12/23 | Open |  | 207350 | 207841 | Corporate Bonds | Open/Demand |
|  TD Securities (USA) LLC | 4.49 <sup>(b)</sup> | 01/12/23 | Open |  | 232813 | 233365 | Corporate Bonds | Open/Demand |
|  BofA Securities, Inc. | 4.64 | 01/13/23 | 02/03/23 |  | 1430975 | 1433742 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.64 | 01/13/23 | 02/03/23 |  | 878374 | 880072 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.64 | 01/13/23 | 02/03/23 |  | 1575460 | 1578506 | Corporate Bonds | Up to 30 Days |
|  RBC Capital Markets, LLC | 4.63 <sup>(b)</sup> | 01/17/23 | Open |  | 264800 | 265277 | Corporate Bonds | Open/Demand |
|  BofA Securities, Inc. | 4.50 | 01/19/23 | 02/03/23 |  | 559762 | 560602 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.55 | 01/19/23 | 02/03/23 |  | 429080 | 429731 | Foreign Agency Obligations | Up to 30 Days |
|  BofA Securities, Inc. | 4.55 | 01/19/23 | 02/03/23 |  | 396338 | 396939 | Foreign Agency Obligations | Up to 30 Days |
|  BofA Securities, Inc. | 4.64 | 01/19/23 | 02/03/23 |  | 725107 | 726229 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.64 | 01/19/23 | 02/03/23 |  | 873042 | 874393 | Corporate Bonds | Up to 30 Days |
|  Barclays Bank PLC | 4.50 | 01/19/23 | 02/07/23 |  | 667800 | 668802 | Foreign Agency Obligations | Up to 30 Days |
|  Barclays Bank PLC | 4.60 | 01/19/23 | 02/07/23 |  | 486594 | 487340 | Foreign Agency Obligations | Up to 30 Days |
|  BofA Securities, Inc. | 4.50 | 01/20/23 | 02/03/23 |  | 330197 | 330692 | Corporate Bonds | Up to 30 Days |
|  BNP Paribas S.A. | 4.48 <sup>(b)</sup> | 01/20/23 | Open |  | 454960 | 455470 | Corporate Bonds | Open/Demand |
|  BofA Securities, Inc. | 3.60 | 01/23/23 | 02/03/23 |  | 120395 | 120491 | Corporate Bonds | Up to 30 Days |
|  J.P. Morgan Securities LLC | 4.50 | 01/23/23 | 02/08/23 |  | 340625 | 340966 | Corporate Bonds | Up to 30 Days |
|  J.P. Morgan Securities LLC | 4.50 | 01/23/23 | 02/08/23 |  | 198125 | 198323 | Corporate Bonds | Up to 30 Days |
|  J.P. Morgan Securities LLC | 4.50 | 01/23/23 | 02/08/23 |  | 388500 | 388888 | Corporate Bonds | Up to 30 Days |
|  J.P. Morgan Securities LLC | 4.50 | 01/23/23 | 02/08/23 |  | 711250 | 711961 | Corporate Bonds | Up to 30 Days |
|  J.P. Morgan Securities LLC | 4.50 | 01/23/23 | 02/08/23 |  | 191250 | 191441 | Corporate Bonds | Up to 30 Days |
|  J.P. Morgan Securities LLC | 4.50 | 01/23/23 | 02/08/23 |  | 332500 | 332833 | Corporate Bonds | Up to 30 Days |
|  J.P. Morgan Securities LLC | 4.50 | 01/23/23 | 02/08/23 |  | 338750 | 339089 | Corporate Bonds | Up to 30 Days |
|  J.P. Morgan Securities LLC | 4.50 | 01/23/23 | 02/08/23 |  | 195646 | 195842 | Corporate Bonds | Up to 30 Days |
|  J.P. Morgan Securities LLC | 4.50 | 01/23/23 | 02/08/23 |  | 83375 | 83458 | Corporate Bonds | Up to 30 Days |
|  J.P. Morgan Securities LLC | 4.50 | 01/23/23 | 02/08/23 |  | 450750 | 451201 | Corporate Bonds | Up to 30 Days |
|  J.P. Morgan Securities LLC | 4.50 | 01/23/23 | 02/08/23 |  | 364375 | 364739 | Corporate Bonds | Up to 30 Days |
|  BNP Paribas S.A. | 4.49 <sup>(b)</sup> | 01/23/23 | Open |  | 313630 | 313943 | Corporate Bonds | Open/Demand |
|  HSBC Securities (USA), Inc. | 4.50 <sup>(b)</sup> | 01/23/23 | Open |  | 106350 | 106456 | Corporate Bonds | Open/Demand |
|  RBC Capital Markets, LLC | 4.63 <sup>(b)</sup> | 01/23/23 | Open |  | 635029 | 635682 | Corporate Bonds | Open/Demand |
|  BofA Securities, Inc. | 4.00 | 01/24/23 | 02/03/23 |  | 385059 | 385358 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.45 | 01/24/23 | 02/03/23 |  | 243425 | 243636 | Corporate Bonds | Up to 30 Days |
|  Barclays Capital, Inc. | 4.50 <sup>(b)</sup> | 01/24/23 | Open |  | 487060 | 487486 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. | 4.48 <sup>(b)</sup> | 01/24/23 | Open |  | 1652500 | 1653940 | Corporate Bonds | Open/Demand |
|  Nomura Securities International, Inc. | 4.48 <sup>(b)</sup> | 01/24/23 | Open |  | 537067 | 537535 | Corporate Bonds | Open/Demand |
|  Nomura Securities International, Inc. | 4.48 <sup>(b)</sup> | 01/24/23 | Open |  | 228620 | 228819 | Corporate Bonds | Open/Demand |
|  J.P. Morgan Securities LLC | 4.40 | 01/25/23 | 02/08/23 |  | 361030 | 361295 | Corporate Bonds | Up to 30 Days |

---

S C H E D U L E O F I N V E S T M E N T S 30

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Multi-Sector Income Trust (BIT)** |

---

**Reverse Repurchase Agreements (continued)** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  *Counterparty* | *Interest<br>Rate* | *Trade<br>Date* | *Maturity<br>Date* | *<br><sup>(a)</sup>* | *Face Value* | | *Face Value<br>Including<br>Accrued Interest* | *Type of Non-Cash Underlying<br>Collateral* | *Remaining<br>Contractual Maturity<br>of the Agreements* |
|  J.P. Morgan Securities LLC | 4.40% | 01/25/23 | 02/08/23 |  | $430819 |  | $431135 | Corporate Bonds | Up to 30 Days |
|  J.P. Morgan Securities LLC | 4.45 | 01/25/23 | 02/08/23 |  | 744387 |  | 744940 | Corporate Bonds | Up to 30 Days |
|  J.P. Morgan Securities LLC | 4.45 | 01/25/23 | 02/08/23 |  | 1247686 |  | 1248612 | Corporate Bonds | Up to 30 Days |
|  J.P. Morgan Securities LLC | 4.45 | 01/25/23 | 02/08/23 |  | 413105 |  | 413411 | Corporate Bonds | Up to 30 Days |
|  J.P. Morgan Securities LLC | 4.45 | 01/25/23 | 02/08/23 |  | 364170 |  | 364440 | Corporate Bonds | Up to 30 Days |
|  HSBC Securities (USA), Inc. | 4.50 <sup>(b)</sup> | 01/25/23 | Open |  | 927081 |  | 927777 | Corporate Bonds | Open/Demand |
|  Nomura Securities International, Inc. | 4.57 <sup>(b)</sup> | 01/25/23 | Open |  | 413522 |  | 413837 | Corporate Bonds | Open/Demand |
|  BofA Securities, Inc. | 4.50 | 01/26/23 | 02/03/23 |  | 483347 |  | 483650 | Corporate Bonds | Up to 30 Days |
|  BNP Paribas S.A. | 4.37 <sup>(b)</sup> | 01/26/23 | Open |  | 359093 |  | 359310 | Capital Trusts | Open/Demand |
|  HSBC Securities (USA), Inc. | 4.50 <sup>(b)</sup> | 01/26/23 | Open |  | 322691 |  | 322893 | Corporate Bonds | Open/Demand |
|  HSBC Securities (USA), Inc. | 4.50 <sup>(b)</sup> | 01/26/23 | Open |  | 297096 |  | 297282 | Corporate Bonds | Open/Demand |
|  Nomura Securities International, Inc. | 4.48 <sup>(b)</sup> | 01/26/23 | Open |  | 656910 |  | 657319 | Corporate Bonds | Open/Demand |
|  BofA Securities, Inc. | 4.25 | 01/27/23 | 02/03/23 |  | 219893 |  | 219944 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.35 | 01/27/23 | 02/03/23 |  | 484412 |  | 484530 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.35 | 01/27/23 | 02/03/23 |  | 143925 |  | 143960 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.35 | 01/27/23 | 02/03/23 |  | 1214860 |  | 1215154 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.35 | 01/27/23 | 02/03/23 |  | 407430 |  | 407528 | Corporate Bonds | Up to 30 Days |
|  BofA Securities, Inc. | 4.50 | 01/27/23 | 02/03/23 |  | 1003950 |  | 1004201 | Corporate Bonds | Up to 30 Days |
|  BNP Paribas S.A. | 4.42 <sup>(b)</sup> | 01/27/23 | Open |  | 234894 |  | 234951 | Corporate Bonds | Open/Demand |
|  TD Securities (USA) LLC | 4.49 <sup>(b)</sup> | 01/27/23 | Open |  | 106644 |  | 106670 | Corporate Bonds | Open/Demand |
|  BofA Securities, Inc. | 4.60 | 01/30/23 | 02/03/23 |  | 1073966 |  | 1074103 | Corporate Bonds | Up to 30 Days |
|  BNP Paribas S.A. | 4.65 <sup>(b)</sup> | 01/30/23 | Open |  | 1832530 |  | 1832530 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. | 4.65 <sup>(b)</sup> | 01/30/23 | Open |  | 1717252 |  | 1717252 | Corporate Bonds | Open/Demand |
|  BNP Paribas S.A. | 4.65 <sup>(b)</sup> | 01/30/23 | Open |  | 1786160 |  | 1786160 | Corporate Bonds | Open/Demand |
|  |  |  |  |  | $303402890 |  | $304617439 |  |  |

---

<sup>(a)</sup> Certain agreements have no stated maturity and can be terminated by either party at any time.

<sup>(b)</sup> Variable rate security. Rate as of period end and maturity is the date the principal owed can be recovered through demand.

**Derivative Financial Instruments Outstanding as of Period End** 

**Futures Contracts** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Description* | *Number of<br>Contracts* | *Expiration<br>Date* | *Notional<br>Amount (000)* | *Value/<br>Unrealized<br>Appreciation<br>(Depreciation)* |
|  Long Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2-Year U.S. Treasury Note | 1310 | 03/31/23 | $269543 | $379827 |
|  Short Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 10-Year Japanese Government Treasury Bonds | 28 | 03/13/23 | 31527 | (47628) |
| &nbsp;&nbsp;&nbsp;&nbsp; 10-Year U.S. Treasury Note | 1073 | 03/22/23 | 123194 | (1974849) |
| &nbsp;&nbsp;&nbsp;&nbsp; 10-Year U.S. Ultra Long Treasury Note | 271 | 03/22/23 | 32969 | (636443) |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Long Bond | 207 | 03/22/23 | 27033 | (1108296) |
| &nbsp;&nbsp;&nbsp;&nbsp; Ultra U.S. Treasury Bond | 339 | 03/22/23 | 48498 | (2535428) |
| &nbsp;&nbsp;&nbsp;&nbsp; 5-Year U.S. Treasury Note | 87 | 03/31/23 | 9522 | 9675 |
|  |  |  |  | (6292969) |
|  |  |  |  | $(5913142) |

---

**Forward Foreign Currency Exchange Contracts** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *Currency Purchased* | *Currency Purchased* | *Currency Sold* | *Currency Sold* | *Counterparty* | *Settlement Date* | *Unrealized<br>Appreciation<br>(Depreciation)* |
| USD | 844266 | EUR | 771330 | Morgan Stanley & Co. International PLC | 03/15/23 | $3509 |
| USD | 107444 | EUR | 98161 | State Street Bank and Trust Co. | 03/15/23 | 447 |
| USD | 116358 | GBP | 93773 | Bank of America N.A. | 03/15/23 | 645 |
|  |  |  |  |  |  | 4601 |
| USD | 6368369 | EUR | 5948000 | Deutsche Bank AG | 03/15/23 | (115010) |

---

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Multi-Sector Income Trust (BIT)** |

---

**Forward Foreign Currency Exchange Contracts (continued)** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *Currency Purchased* | *Currency Purchased* | *Currency Sold* | *Currency Sold* | *Counterparty* | *Settlement Date* | *Unrealized<br>Appreciation<br>(Depreciation)* |
| USD | 341851 | EUR | 319436 | JPMorgan Chase Bank N.A. | 03/15/23 | $(6337) |
| USD | 770786 | EUR | 727310 | Royal Bank of Canada | 03/15/23 | (21989) |
| USD | 9570 | EUR | 9000 | State Street Bank and Trust Co. | 03/15/23 | (240) |
| USD | 1262248 | GBP | 1032000 | Morgan Stanley & Co. International PLC | 03/15/23 | (11208) |
| USD | 4876 | GBP | 4000 | Royal Bank of Canada | 03/15/23 | (60) |
|  |  |  |  |  |  | (154844) |
|  |  |  |  |  |  | $(150243) |

---

**Centrally Cleared Credit Default Swaps — Buy Protection** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Reference Obligation/Index* | *Financing<br>Rate Paid<br>by the Trust* | *Payment<br>Frequency* | *Termination<br>Date* | *Notional<br>Amount (000)* | *Notional<br>Amount (000)* | *Value* | *Upfront<br>Premium<br>Paid<br>(Received)* | *Unrealized<br>Appreciation<br>(Depreciation)* |
|  CDX.NA.HY.39.V1 | 5.00% | Quarterly | 12/20/27 | USD | 7170 | $(240717) | $219529 | $(460246) |
|  CDX.NA.IG.39.V1 | 1.00 | Quarterly | 12/20/27 | USD | 30240 | (415525) | (44281) | (371244) |
|  |  |  |  |  |  | $(656242) | $175248 | $(831490) |

---

**Centrally Cleared Interest Rate Swaps** 

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Paid by the Trust* | *Paid by the Trust* | *Received by the Trust* | *Received by the Trust* | *Effective<br>Date* | *Termination<br>Date* | *Notional<br>Amount (000)* | *Notional<br>Amount (000)* | *Value* | *Upfront<br>Premium<br>Paid<br>(Received)* | *Unrealized<br>Appreciation<br>(Depreciation)* |
| *Rate* | *Frequency* | *Rate* | *Frequency* | *Effective<br>Date* | *Termination<br>Date* | *Notional<br>Amount (000)* | *Notional<br>Amount (000)* | *Value* | *Upfront<br>Premium<br>Paid<br>(Received)* | *Unrealized<br>Appreciation<br>(Depreciation)* |
|  3-Month LIBOR, 4.81% | Quarterly | 1.55% | Semi-Annual | N/A | 10/08/31 | USD | 28600 | $(4115596) | $408 | $(4116004) |
|  1.61% | Semi-Annual | 3-Month LIBOR, 4.81% | Quarterly | N/A | 03/28/32 | USD | 10600 | 1546854 | 157 | 1546697 |
|  1.66% | Semi-Annual | 3-Month LIBOR, 4.81% | Quarterly | N/A | 04/25/32 | USD | 10290 | 1448991 | 155 | 1448836 |
|  1.73% | Semi-Annual | 3-Month LIBOR, 4.81% | Quarterly | N/A | 10/08/36 | USD | 32800 | 6220786 | 607 | 6220179 |
|  1-Day SOFR, 4.30% | Annual | 3.31% | Annual | N/A | 12/01/42 | USD | 1800 | 36931 | 43 | 36888 |
|  3-Month LIBOR, 4.81% | Quarterly | 1.84% | Semi-Annual | N/A | 10/08/51 | USD | 11500 | (3070953) | 349 | (3071302) |
|  3-Month LIBOR, 4.81% | Quarterly | 1.93% | Semi-Annual | N/A | 10/22/51 | USD | 2840 | (703309) | 86 | (703395) |
|  3-Month LIBOR, 4.81% | Quarterly | 1.92% | Semi-Annual | N/A | 10/27/51 | USD | 1420 | (354207) | 43 | (354250) |
|  1-Day SOFR, 4.30% | Annual | 3.53% | Annual | N/A | 11/10/52 | USD | 3000 | 326364 | 93 | 326271 |
|  |  |  |  |  |  |  |  | $1335861 | $1941 | $1333920 |

---

**OTC Credit Default Swaps — Buy Protection** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Reference Obligations/Index* | *Financing<br>Rate Paid*<br> *by the Trust* | *Payment<br>Frequency* | *Counterparty* | *Termination<br>Date* | *Notional<br>Amount (000)* | *Notional<br>Amount (000)* | *Value* | *Upfront<br>Premium<br>Paid<br>(Received)* | *Unrealized<br>Appreciation<br>(Depreciation)* |
|  CMBX.NA.7 | 3.00% | Monthly | Deutsche Bank AG | 01/17/47 | USD | 25000 | $4704166 | $1667045 | $3037121 |

---

**OTC Credit Default Swaps — Sell Protection** 

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | *Reference Obligation/Index* | *Financing<br>Rate Received<br>by the Trust* | *Payment<br>Frequency* | *Counterparty* | *Termination<br>Date* | *Credit <br>Rating<sup>(a)</sup>* | *Notional* <br> *Amount (000)<sup>(b)</sup>* | *Notional* <br> *Amount (000)<sup>(b)</sup>* | *Value* | *Upfront<br>Premium<br>Paid<br>(Received)* | *Unrealized<br>Appreciation<br>(Depreciation)* |
|  | Casino, Guichard-Perrachon S.A. | 5.00% | Quarterly | JPMorgan Chase Bank N.A. | 06/20/23 | CCC+ | EUR | 20 | $(552) | $(695) | $143 |
|  | Novafives S.A.S. | 5.00 | Quarterly | Citibank N.A. | 06/20/23 | B- | EUR | 20 | (293) | (551) | 258 |
|  | Casino, Guichard-Perrachon S.A. | 5.00 | Quarterly | JPMorgan Chase Bank N.A. | 12/20/23 | CCC+ | EUR | 100 | (8950) | (19208) | 10258 |
|  | Thyssenkrupp AG | 1.00 | Quarterly | Bank of America N.A. | 12/20/23 | BB | EUR | 20 | (96) | (387) | 291 |
|  | Virgin Media Finance PLC | 5.00 | Quarterly | JPMorgan Chase Bank N.A. | 12/20/25 | B | EUR | 20 | 1270 | 1634 | (364) |
|  | Jaguar Land Rover Automotive PLC | 5.00 | Quarterly | Bank of America N.A. | 12/20/26 | B+ | EUR | 20 | (1351) | (687) | (664) |

---

S C H E D U L E O F I N V E S T M E N T S 32

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Multi-Sector Income Trust (BIT)** |

---

**OTC Credit Default Swaps — Sell Protection (continued)** 

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | *Reference Obligation/Index* | *Financing<br>Rate Received<br>by the Trust* | *Payment<br>Frequency* | *Counterparty* | *Termination<br>Date* | *Credit <br>Rating<sup>(a)</sup>* | *Notional* <br> *Amount (000)<sup>(b)</sup>* | *Notional* <br> *Amount (000)<sup>(b)</sup>* | *Value* | *Upfront<br>Premium<br>Paid<br>(Received)* | *Unrealized<br>Appreciation<br>(Depreciation)* |
|  | Jaguar Land Rover Automotive PLC | 5.00% | Quarterly | Barclays Bank PLC | 12/20/26 | B+ | EUR | 10 | $(686) | $351 | $(1037) |
|  | Jaguar Land Rover Automotive PLC | 5.00 | Quarterly | Credit Suisse International | 12/20/26 | B+ | EUR | 10 | (666) | 361 | (1027) |
|  | K&S AG | 5.00 | Quarterly | JPMorgan Chase Bank N.A. | 12/20/26 | BB+ | EUR | 30 | 3623 | 2125 | 1498 |
|  | CMA CGM SA | 5.00 | Quarterly | Credit Suisse International | 06/20/27 | BB+ | EUR | 38 | 4126 | 1528 | 2598 |
|  | Ladbrokes Coral Group Ltd. | 1.00 | Quarterly | JPMorgan Chase Bank N.A. | 06/20/27 | BB | EUR | 10 | (514) | (989) | 475 |
|  | Ladbrokes Coral Group Ltd. | 1.00 | Quarterly | JPMorgan Chase Bank N.A. | 06/20/27 | BB | EUR | 60 | (3085) | (9463) | 6378 |
|  | Adler Real Estate AG | 5.00 | Quarterly | Bank of America N.A. | 12/20/27 | CCC- | EUR | 9 | (1742) | (2090) | 348 |
|  | Adler Real Estate AG | 5.00 | Quarterly | Barclays Bank PLC | 12/20/27 | CCC- | EUR | 5 | (1047) | (1238) | 191 |
|  | Adler Real Estate AG | 5.00 | Quarterly | Barclays Bank PLC | 12/20/27 | CCC- | EUR | 15 | (2943) | (3481) | 538 |
|  | Adler Real Estate AG | 5.00 | Quarterly | Citibank N.A. | 12/20/27 | CCC- | EUR | 5 | (854) | (1038) | 184 |
|  | Adler Real Estate AG | 5.00 | Quarterly | JPMorgan Chase Bank N.A. | 12/20/27 | CCC- | EUR | 9 | (1787) | (2151) | 364 |
|  | Adler Real Estate AG | 5.00 | Quarterly | Morgan Stanley & Co. International PLC | 12/20/27 | CCC- | EUR | 7 | (1295) | (1539) | 244 |
|  | Loxam SAS | 5.00 | Quarterly | Bank of America N.A. | 12/20/27 | B | EUR | 30 | (2458) | (2278) | (180) |
|  | United Group B.V. | 5.00 | Quarterly | Bank of America N.A. | 12/20/27 | B | EUR | 23 | (3454) | (3445) | (9) |
|  | United Group B.V. | 5.00 | Quarterly | JPMorgan Chase Bank N.A. | 12/20/27 | B | EUR | 27 | (4186) | (4474) | 288 |
|  | CMBX.NA.7 | 3.00 | Monthly | Barclays Bank PLC | 01/17/47 | AAA | USD | 10000 | (1881667) | (467412) | (1414255) |
|  | CMBX.NA.7 | 3.00 | Monthly | Barclays Bank PLC | 01/17/47 | AAA | USD | 5000 | (940833) | (233436) | (707397) |
|  | CMBX.NA.7 | 3.00 | Monthly | Barclays Bank PLC | 01/17/47 | AAA | USD | 10000 | (1881667) | (231178) | (1650489) |
|  | CMBX.NA.9 | 3.00 | Monthly | Morgan Stanley & Co. International PLC | 09/17/58 | AAA | USD | 407 | (71223) | (41770) | (29453) |
|  | CMBX.NA.15 | 3.00 | Monthly | Morgan Stanley & Co. International PLC | 11/15/64 | N/R | USD | 2972 | (521887) | (556927) | 35040 |
|  |  |  |  |  |  |  |  |  | $(5324217) | $(1578438) | $(3745779) |

---

<sup>(a)</sup> Using the rating of the issuer or the underlying securities of the index, as applicable, provided by S&P Global Ratings.

<sup>(b)</sup> The maximum potential amount the Trust may pay should a negative credit event take place as defined under the terms of the agreement. 

**Fair Value Hierarchy as of Period End** 

Various inputs are used in determining the fair value of financial instruments. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:

&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 – Unadjusted price quotations in active markets/exchanges for identical assets or liabilities that the Trust
has the ability to access;

&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 – Other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in
markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves,
volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market–corroborated inputs); and

&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 – Unobservable inputs based on the best information available in the circumstances, to the extent observable
inputs are not available (including the Valuation Committee's assumptions used in determining the fair value of financial instruments).

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds. There may not be a secondary market, and/or there are a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Trust's policy regarding valuation of financial instruments, refer to its most recent financial statements.

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Multi-Sector Income Trust (BIT)** |

---

**Fair Value Hierarchy as of Period End (continued)** 

The following table summarizes the Trust's financial instruments categorized in the fair value hierarchy. The breakdown of the Trust's financial instruments into major categories is disclosed in the Schedule of Investments above.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
|  Assets |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Long-Term Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset-Backed Securities | $— | $86169622 | $1982744 | $88152366 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common Stocks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4783597 |  |  | 4783597 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Corporate Bonds |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;454950826 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1384995 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;456335821 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Floating Rate Loan Interests |  | 37631289 | 739714 | 38371003 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign Agency Obligations |  | 17998828 |  | 17998828 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Municipal Bonds |  | 1016320 |  | 1016320 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Non-Agency Mortgage-Backed Securities |  | 84367852 |  | 84367852 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Preferred Securities |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital Trusts |  | 36605194 |  | 36605194 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Preferred Stocks | 13889818 |  |  | 13889818 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S. Government Sponsored Agency Securities |  | 136684037 |  | 136684037 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Obligations |  | 14042488 |  | 14042488 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Warrants |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-Term Securities |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Money Market Funds | 14712038 |  |  | 14712038 |
|  Liabilities |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TBA Sale Commitments |  | (9651881) |  | (9651881) |
| &nbsp;&nbsp;&nbsp;&nbsp; Unfunded Floating Rate Loan Interests<sup>(a)</sup> |  | (13576) |  | (13576) |
|  | $33385453 | $859800999 | $4107453 | $897293905 |
|  Derivative Financial Instruments<sup>(b)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Assets |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Credit Contracts | $— | $3096217 | $— | $3096217 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign Currency Exchange Contracts |  | 4601 |  | 4601 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest Rate Contracts | 389502 | 9578871 |  | 9968373 |
| &nbsp;&nbsp;&nbsp;&nbsp; Liabilities |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Credit Contracts |  | (4636365) |  | (4636365) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign Currency Exchange Contracts |  | (154844) |  | (154844) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest Rate Contracts | (6302644) | (8244951) |  | (14547595) |
|  | $(5913142) | $(356471) | $— | $(6269613) |

---

<sup>(a)</sup> Unfunded floating rate loan interests are valued at the unrealized appreciation (depreciation) on the commitment.

<sup>(b)</sup> Derivative financial instruments are swaps, futures contracts and forward foreign currency exchange contracts. Swaps, futures contracts and forward foreign currency exchange contracts are valued at the unrealized appreciation (depreciation) on the instrument.

The Trust may hold assets and/or liabilities in which the fair value approximates the carrying amount or face value, including accrued interest, for financial reporting purposes. As of period end, reverse repurchase agreements of $304,617,439 are categorized as Level 2 within the fair value hierarchy.

---

| | |
|:---|:---|
| **Currency Abbreviation** | **Currency Abbreviation** |
| EUR | Euro |
| GBP | British Pound |
| USD | United States Dollar |
| **Portfolio Abbreviation** | **Portfolio Abbreviation** |
| CAB | Capital Appreciation Bonds |
| CDI | CREST Depository Interest |
| CLO | Collateralized Loan Obligation |
| CMT | Constant Maturity Treasury |

---

---

| | |
|:---|:---|
| **Portfolio Abbreviation (continued)** | **Portfolio Abbreviation (continued)** |
| CR | Custodian Receipt |
| DAC | Designated Activity Company |
| EURIBOR | Euro Interbank Offered Rate |
| GO | General Obligation Bonds |
| LIBOR | London Interbank Offered Rate |
| MTA | Month Treasury Average |
| PCL | Public Company Limited |
| PIK | Payment-in-Kind |
| RB | Revenue Bond |
| REIT | Real Estate Investment Trust |

---

S C H E D U L E O F I N V E S T M E N T S 34

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Multi-Sector Income Trust (BIT)** |

---

---

| | |
|:---|:---|
| **Portfolio Abbreviation (continued)** | **Portfolio Abbreviation (continued)** |
| REMIC | Real Estate Mortgage Investment Conduit |
| SAB | Special Assessment Bonds |
| SG | Syncora Guarantee |
| SOFR | Secured Overnight Financing Rate |
| SOFR CME | Secured Overnight Financing Rate Chicago Mercantile Exchange |
| SOFRTE | Term Secured Overnight Financing Rate |
| TBA | To-Be-Announced |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** BlackRock Multi-Sector Income Trust

- **b. Investment Company Act file number:** 811-22774

- **c. CIK number of Registrant:** 0001562818

- **d. LEI of Registrant:** 549300BOVTR6GS7HLC41

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

  - **Street Address 1:** 100 Bellevue Parkway

  - **City:** Wilmington

  - **State:** DE

  - **Foreign country:** US

  - **Zip / Postal Code:** 19809

  - **Telephone number:** 800-441-7762

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

- **a. Name of Series:** BlackRock Multi-Sector Income Trust

- **c. LEI of Series:** 549300BOVTR6GS7HLC41

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

- **a. Date of fiscal year-end:** 2023-10-31

- **b. Date as of which information is reported:** 2023-01-31

**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:** $937577978.37

**Total Liabilities:** $366260982.37

**Net Assets:** $571316996.00

**Delayed Delivery Securities:** $16924574.09

**Cash Not Reported:** $11347796.69

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 16040.38000000 | **1-Year:** 6254.91000000 | **5-Year:** 34572.42000000 | **10-Year:** 68244.03000000 | **30-Year:** 46526.99000000

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

- **3-Month:** 48190.87000000 | **1-Year:** 4916.94000000 | **5-Year:** 124915.20000000 | **10-Year:** -6722.46000000 | **30-Year:** 50155.62000000

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | 1.87%                | 0.32%                | 3.69%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-6045280.32             | $23841353.12                               |
| Month 2  | $-1428455.54             | $-4213261.56                               |
| Month 3  | $-670609.71              | $27425774.37                               |

**Designated Index Information**

- **Index Name:** Fund`s Designated Reference Portfolio is the Fund`s Securities Portfolio

- **Index Identifier:** Fund`s Designated Reference Portfolio is the Fund`s Securities Portfolio

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| CITIBANK NA                                      | SWAP/CDSWAP/SCDS: (NVFVES)                                                       | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DCR              |  | XX        |     20000 | OU      | $-291.18      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| UNITED AIRLINES INC                              | United Airlines Inc                                                              | CUSIP: 90932LAG2<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | DBT              | CORP              | US        |    694000 | PA      | $658838.42    | 0.12%             | 2026-04-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                         | CHS/Community Health Systems Inc                                                 | CUSIP: 12543DBH2<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |    653000 | PA      | $573170.75    | 0.10%             | 2029-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP CABLE ONE I                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -239181 | PA      | $-239181.25   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| Propulsion (BC) Finco S.a.r.l.                   | Propulsion (BC) Finco S.a.r.l. Term Loan                                         | CUSIP: 000000000<br>LEI: 254900S4YQSQVLEZ8D35 | Long             | LON              | CORP              | US        |    158538 | PA      | $156754.45    | 0.03%             | 2029-09-14      | Variable      | 8.58%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                          | RRP ABBVIE INC                                                                   | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -867500 | PA      | $-867500.00   | -0.15%            |  |  |  | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                          | RRP UNITEDHEALT                                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -679688 | PA      | $-679687.50   | -0.12%            |  |  |  | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                           | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCL5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    332000 | PA      | $269750.00    | 0.05%             | 2033-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                      | RRP ALLIED UNIV                                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |  -1786160 | PA      | $-1786160.00  | -0.31%            |  |  |  | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                      | RRP ELEMENT SOL                                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |  -1492310 | PA      | $-1492310.00  | -0.26%            |  |  |  | No            |                  2 | On Loan: No      |
| OUTFRONT MEDIA CAP LLC/C                         | Outfront Media Capital LLC / Outfront Media Capital Corp                         | CUSIP: 69007TAC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    105000 | PA      | $90185.55     | 0.02%             | 2030-03-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| DISCOVERY COMMUNICATIONS                         | Discovery Communications LLC                                                     | CUSIP: 25470DAG4<br>LEI: L2Z2MO2EQURH3BREWI15 | Long             | DBT              | CORP              | US        |    400000 | PA      | $332585.08    | 0.06%             | 2042-05-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| HERENS HOLDCO SARL                               | Herens Holdco Sarl                                                               | CUSIP: 427169AA5<br>LEI: 2221002FZ55AMAUX4G64 | Long             | DBT              | CORP              | LU        |    671000 | PA      | $546148.28    | 0.10%             | 2028-05-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| NATIONSTAR MTG HLD INC                           | Nationstar Mortgage Holdings Inc                                                 | CUSIP: 63861CAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    237000 | PA      | $219817.50    | 0.04%             | 2027-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Clear Creek CLO Ltd                              | Clear Creek CLO                                                                  | CUSIP: 18452LAN8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $220423.18    | 0.04%             | 2030-10-20      | Floating      | 7.76%                 | No            |                  2 | On Loan: No      |
| EL PASO NATURAL GAS                              | El Paso Natural Gas Co LLC                                                       | CUSIP: 283695BQ6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    185000 | PA      | $160869.90    | 0.03%             | 2032-02-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Countrywide Alternative Loan Trust               | Alternative Loan Trust 2007-23CB                                                 | CUSIP: 02151EAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4103016 | PA      | $2360183.03   | 0.41%             | 2037-09-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GCI LLC                                          | GCI LLC                                                                          | CUSIP: 36166TAB6<br>LEI: 549300N3IE9H88Q20221 | Long             | DBT              | CORP              | US        |    136000 | PA      | $119753.44    | 0.02%             | 2028-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                         | Hilcorp Energy I LP / Hilcorp Finance Co                                         | CUSIP: 431318AS3<br>LEI: 549300ITPIHLG0LHEC09 | Long             | DBT              | CORP              | US        |    188000 | PA      | $180575.88    | 0.03%             | 2028-11-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| ASHTON WOODS USA/FINANCE                         | Ashton Woods USA LLC / Ashton Woods Finance Co                                   | CUSIP: 045086AM7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    128000 | PA      | $106880.00    | 0.02%             | 2029-08-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| ENLINK MIDSTREAM PARTNER                         | EnLink Midstream Partners LP                                                     | CUSIP: 29336UAE7<br>LEI: 88CPW63VL7KHJWS0NY83 | Long             | DBT              | CORP              | US        |     28000 | PA      | $26977.44     | 0.00%             | 2025-06-01      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK SA | RRP ABBVIE INC                                                                   | CUSIP: 000000000<br>LEI: 1VUV7VQFKUOQSJ21A208 | Short            | RA               | CORP              | US        |   -413750 | PA      | $-413750.00   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| Calpine Corp                                     | Calpine Corp                                                                     | CUSIP: 131347CK0<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |    195000 | PA      | $188599.89    | 0.03%             | 2026-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                       | Fannie Mae Pool                                                                  | CUSIP: 3140H9A94<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3044491 | PA      | $3075736.78   | 0.54%             | 2048-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| DP WORLD SALAAM                                  | DP World Salaam                                                                  | CUSIP: 000000000<br>LEI: 549300SUYBT9X88E9435 | Long             | DBT              | CORP              | KY        |    456000 | PA      | $456285.00    | 0.08%             | 2025-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| VIKING OCEAN CRUISES SHI                         | Viking Ocean Cruises Ship VII Ltd                                                | CUSIP: 92682RAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |     72000 | PA      | $61560.00     | 0.01%             | 2029-02-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| BOXER PARENT CO INC                              | Boxer Parent Co Inc                                                              | CUSIP: 000000000<br>LEI: 5493006T045HLTF7YX04 | Long             | DBT              | CORP              | US        |    100000 | PA      | $107312.61    | 0.02%             | 2025-10-02      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Atrium CDO Corp                                  | Madison Park Funding XLI Ltd                                                     | CUSIP: 04965CAJ7<br>LEI: 549300O252OCTN35RH57 | Long             | ABS-CBDO         | CORP              | KY        |    294663 | PA      | $291481.38    | 0.05%             | 2027-04-22      | Floating      | 5.65%                 | No            |                  2 | On Loan: No      |
| ALBERTSONS COS/SAFEWAY                           | Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC            | CUSIP: 013092AA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    127000 | PA      | $130230.46    | 0.02%             | 2026-03-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| RAYTHEON TECH CORP                               | Raytheon Technologies Corp                                                       | CUSIP: 913017CJ6<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |    700000 | PA      | $588536.24    | 0.10%             | 2046-11-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                         | Ford Motor Credit Co LLC                                                         | CUSIP: 345397A60<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    397000 | PA      | $390199.23    | 0.07%             | 2025-06-16      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                       | Fannie Mae Pool                                                                  | CUSIP: 31418CV43<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     28220 | PA      | $28421.06     | 0.00%             | 2048-04-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trust                  | BRAVO Residential Funding Trust 2021-NQM1                                        | CUSIP: 10569TAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    746402 | PA      | $661379.30    | 0.12%             | 2049-02-25      | Variable      | 0.94%                 | No            |                  2 | On Loan: No      |
| ACURIS FIN US/ACURIS FIN                         | Acuris Finance US Inc / Acuris Finance SARL                                      | CUSIP: 00511BAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    514000 | PA      | $419890.86    | 0.07%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHESAPEAKE ENERGY CORP                           | Chesapeake Energy Corp                                                           | CUSIP: 92735LAA0<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | DBT              | CORP              | US        |    605000 | PA      | $596560.25    | 0.10%             | 2029-04-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Palmer Square Loan Funding Ltd                   | Palmer Square Loan Funding 2020-1 Ltd                                            | CUSIP: 69701EAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    136889 | PA      | $136563.61    | 0.02%             | 2028-02-20      | Floating      | 5.48%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP CONNECT FIN                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |  -1575460 | PA      | $-1575460.00  | -0.28%            |  |  |  | No            |                  2 | On Loan: No      |
| CRESTWOOD MID PARTNER LP                         | Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp               | CUSIP: 67421QAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     57000 | PA      | $57853.03     | 0.01%             | 2029-04-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| GLOBAL PAYMENTS INC                              | Global Payments Inc                                                              | CUSIP: 37940XAP7<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |    130000 | PA      | $130208.04    | 0.02%             | 2027-08-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| AVSC Holding Corp.                               | AVSC Holding Corp. 2018 2nd Lien Term Loan                                       | CUSIP: 00241YAQ7<br>LEI: 549300CLJBQ9YSR4U689 | Long             | LON              | CORP              | US        |    310827 | PA      | $254878.14    | 0.04%             | 2025-09-01      | Floating      | 12.06%                | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP APACHE CORP                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -216169 | PA      | $-216168.75   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                         | Occidental Petroleum Corp                                                        | CUSIP: 674599EB7<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    150000 | PA      | $151829.25    | 0.03%             | 2025-09-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Trimaran CAVU Ltd                                | Trimaran CAVU 2022-2 Ltd                                                         | CUSIP: 895969AA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $474022.95    | 0.08%             | 2036-01-20      | Floating      | 13.16%                | No            |                  2 | On Loan: No      |
| OUTFRONT MEDIA CAP LLC/C                         | Outfront Media Capital LLC / Outfront Media Capital Corp                         | CUSIP: 69007TAE4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    280000 | PA      | $240699.90    | 0.04%             | 2029-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| PDC Energy Inc                                   | PDC Energy Inc                                                                   | CUSIP: 69327RAG6<br>LEI: 5493008W8H2T511J5Y59 | Long             | DBT              | CORP              | US        |     89000 | PA      | $88499.82     | 0.02%             | 2024-09-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| CROWN AMER/CAP CORP V                            | Crown Americas LLC / Crown Americas Capital Corp V                               | CUSIP: 22819KAB6<br>LEI: RPPGGRL1J75WGF2DFO04 | Long             | DBT              | CORP              | US        |     74000 | PA      | $70718.28     | 0.01%             | 2026-09-30      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| M6 ETX Holdings II Midco LLC                     | M6 ETX Holdings II Midco LLC Term Loan B                                         | CUSIP: 55285DAB7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    143616 | PA      | $143376.66    | 0.03%             | 2029-09-19      | Variable      | 9.16%                 | No            |                  2 | On Loan: No      |
| ION TRADING TECHNOLOGIES                         | ION Trading Technologies Sarl                                                    | CUSIP: 46205YAA9<br>LEI: 5493009ZVXOKZLQ6QJ12 | Long             | DBT              | CORP              | LU        |    246000 | PA      | $210637.50    | 0.04%             | 2028-05-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| BOOZ ALLEN HAMILTON INC                          | Booz Allen Hamilton Inc                                                          | CUSIP: 09951LAB9<br>LEI: 549300D7XCH2480XU542 | Long             | DBT              | CORP              | US        |    503000 | PA      | $450813.75    | 0.08%             | 2029-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS                           | Verizon Communications Inc                                                       | CUSIP: 92343VEA8<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |    500000 | PA      | $488834.91    | 0.09%             | 2033-08-10      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| EQUATE PETROCHEMICAL BV                          | Equate Petrochemical BV                                                          | CUSIP: 29441WAD7<br>LEI: 635400Y3Z5R4NJSMQ630 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $177725.00    | 0.03%             | 2028-04-28      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| ASBURY AUTOMOTIVE GROUP                          | Asbury Automotive Group Inc                                                      | CUSIP: 043436AU8<br>LEI: 549300JH4DTA7U42GL91 | Long             | DBT              | CORP              | US        |    168000 | PA      | $151888.29    | 0.03%             | 2028-03-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP TRANSDIGM I                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -484412 | PA      | $-484412.50   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| OMAN GOV INTERNTL BOND                           | Oman Government International Bond                                               | CUSIP: 000000000<br>LEI: 549300SZ20F0QTKNQC75 | Long             | DBT              | NUSS              | OM        |    224000 | PA      | $226520.00    | 0.04%             | 2051-01-25      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| NMG HLDCO/NEIMAN MARCUS                          | NMG Holding Co Inc / Neiman Marcus Group LLC                                     | CUSIP: 62929RAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    398000 | PA      | $380035.95    | 0.07%             | 2026-04-01      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP DIRECTV FIN                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -415245 | PA      | $-415245.00   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| ALLIANT HOLD / CO-ISSUER                         | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                   | CUSIP: 01883LAD5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1984000 | PA      | $1728500.48   | 0.30%             | 2029-11-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ALLEGIANT TRAVEL CO                              | Allegiant Travel Co                                                              | CUSIP: 01748XAD4<br>LEI: 549300JM9OZXOHWL2K18 | Long             | DBT              | CORP              | US        |    147000 | PA      | $143709.01    | 0.03%             | 2027-08-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                         | Hilcorp Energy I LP / Hilcorp Finance Co                                         | CUSIP: 431318AV6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     20000 | PA      | $18494.00     | 0.00%             | 2031-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF CHILE                                | Chile Government International Bond                                              | CUSIP: 168863DW5<br>LEI: 549300FLZTJM5YJF8D34 | Long             | DBT              | NUSS              | CL        |    200000 | PA      | $162287.50    | 0.03%             | 2052-01-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHENIERE ENERGY PARTNERS                         | Cheniere Energy Partners LP                                                      | CUSIP: 16411QAK7<br>LEI: 5493005UEC8AZ34LDV29 | Long             | DBT              | CORP              | US        |    851000 | PA      | $763483.16    | 0.13%             | 2031-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Palmer Square Loan Funding Ltd                   | Palmer Square Loan Funding 2021-3 Ltd                                            | CUSIP: 69702BAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    357636 | PA      | $353673.19    | 0.06%             | 2029-07-20      | Floating      | 5.61%                 | No            |                  2 | On Loan: No      |
| Allied Universal                                 | Allied Universal Holdco LLC / Allied Universal Finance Corp                      | CUSIP: 019576AA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2652000 | PA      | $2553213.00   | 0.45%             | 2026-07-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Co LLC                         | Ford Motor Credit Co LLC                                                         | CUSIP: 345397XU2<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1199787.50   | 0.21%             | 2026-01-08      | Fixed         | 4.39%                 | No            |                  2 | On Loan: No      |
| CALPINE CORP                                     | Calpine Corp                                                                     | CUSIP: 131347CP9<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |    145000 | PA      | $126017.48    | 0.02%             | 2029-02-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES USA, INC.                        | RRP DIAMONDBACK                                                                  | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | Short            | RA               | CORP              | US        |  -1039885 | PA      | $-1039885.00  | -0.18%            |  |  |  | No            |                  2 | On Loan: No      |
| ACADIA HEALTHCARE CO INC                         | Acadia Healthcare Co Inc                                                         | CUSIP: 00404AAP4<br>LEI: 5493005CW985Y9D0NC11 | Long             | DBT              | CORP              | US        |    111000 | PA      | $103796.10    | 0.02%             | 2029-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TAP ROCK RESOURCES LLC                           | Tap Rock Resources LLC                                                           | CUSIP: 87602LAA0<br>LEI: 549300Y3SDS1HPFQ6H17 | Long             | DBT              | CORP              | US        |    982000 | PA      | $929463.00    | 0.16%             | 2026-10-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Rossini Sarl                                     | Rossini Sarl                                                                     | CUSIP: 000000000<br>LEI: 549300EC5JCCW6F83R11 | Long             | DBT              | CORP              | LU        |    166000 | PA      | $181470.35    | 0.03%             | 2025-10-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| INTERCORP PERU LTD                               | Intercorp Peru Ltd                                                               | CUSIP: 458652AB0<br>LEI: 549300L0OFVSOE4NSY75 | Long             | DBT              | CORP              | BS        |    270000 | PA      | $226968.75    | 0.04%             | 2029-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK SA | RRP TREASURY NO                                                                  | CUSIP: 000000000<br>LEI: 1VUV7VQFKUOQSJ21A208 | Short            | RA               | CORP              | US        | -14228500 | PA      | $-14228500.00 | -2.49%            |  |  |  | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP ALLIED UNIV                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -928869 | PA      | $-928868.75   | -0.16%            |  |  |  | No            |                  2 | On Loan: No      |
| DISH NETWORK CORP                                | DISH Network Corp                                                                | CUSIP: 25470MAG4<br>LEI: 529900U350CWHH15G169 | Long             | DBT              | CORP              | US        |    234000 | PA      | $243172.80    | 0.04%             | 2027-11-15      | Fixed         | 11.75%                | No            |                  2 | On Loan: No      |
| UNITED MEXICAN STATES                            | Mexico Government International Bond                                             | CUSIP: 91087BAT7<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    200000 | PA      | $192000.00    | 0.03%             | 2033-05-19      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| EMBECTA CORP                                     | Embecta Corp                                                                     | CUSIP: 29082KAB1<br>LEI: 549300RPG8GXVDHNXZ62 | Long             | DBT              | CORP              | US        |     95000 | PA      | $85480.05     | 0.01%             | 2030-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| STANDARD INDUSTRIES INC                          | Standard Industries Inc/NJ                                                       | CUSIP: 853496AG2<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |   1082000 | PA      | $924970.29    | 0.16%             | 2030-07-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| OZLM Ltd                                         | OZLM VII Ltd                                                                     | CUSIP: 67108WBE8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    621623 | PA      | $615198.11    | 0.11%             | 2029-07-17      | Floating      | 5.80%                 | No            |                  2 | On Loan: No      |
| JP MORGAN SECURITIES LLC                         | RRP COMMSCOPE I                                                                  | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | Short            | RA               | CORP              | US        |   -388500 | PA      | $-388500.00   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| US FOODS INC                                     | US Foods Inc                                                                     | CUSIP: 90290MAE1<br>LEI: 5493000JOOFAOUY1JZ87 | Long             | DBT              | CORP              | US        |     51000 | PA      | $45655.52     | 0.01%             | 2030-06-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| ENLINK MIDSTREAM LLC                             | EnLink Midstream LLC                                                             | CUSIP: 29336TAD2<br>LEI: 54930000GY1H533OBE23 | Long             | DBT              | CORP              | US        |    302000 | PA      | $307662.50    | 0.05%             | 2030-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Cloudera, Inc.                                   | Cloudera, Inc. 2021 Term Loan                                                    | CUSIP: 74339VAB4<br>LEI: 549300PGONC4JOI0RG62 | Long             | LON              | CORP              | US        |    340116 | PA      | $326045.61    | 0.06%             | 2028-10-08      | Floating      | 8.32%                 | No            |                  2 | On Loan: No      |
| CIENA CORP                                       | Ciena Corp                                                                       | CUSIP: 171779AL5<br>LEI: W0CZ7N0GH8UIGXDM1H41 | Long             | DBT              | CORP              | US        |    133000 | PA      | $116375.00    | 0.02%             | 2030-01-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIAVI SOLUTIONS INC                              | Viavi Solutions Inc                                                              | CUSIP: 925550AF2<br>LEI: 5493006K3E3N1QOBF092 | Long             | DBT              | CORP              | US        |    454000 | PA      | $396115.00    | 0.07%             | 2029-10-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                         | OBX 2023-NQM1 Trust                                                              | CUSIP: 670855AA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    516253 | PA      | $519770.54    | 0.09%             | 2062-11-25      | Variable      | 6.12%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                        | Uniform Mortgage-Backed Security, TBA                                            | CUSIP: 01F040628<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   3000000 | PA      | $2896875.00   | 0.51%             | 2053-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Camelot U.S. Acquisition LLC                     | Camelot U.S. Acquisition LLC Term Loan B                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | LU        |    178852 | PA      | $178405.02    | 0.03%             | 2026-10-30      | Floating      | 7.52%                 | No            |                  2 | On Loan: No      |
| CROWNROCK LP/CROWNROCK F                         | CrownRock LP / CrownRock Finance Inc                                             | CUSIP: 228701AG3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     56000 | PA      | $51293.16     | 0.01%             | 2029-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust Inc                | Citigroup Mortgage Loan Trust 2006-AR7                                           | CUSIP: 172987AY5<br>LEI: 549300R1KUK063S4I339 | Long             | ABS-MBS          | CORP              | US        |    782711 | PA      | $735082.63    | 0.13%             | 2036-11-25      | Variable      | 3.72%                 | No            |                  2 | On Loan: No      |
| SS&C Technologies Inc                            | SS&C Technologies Inc                                                            | CUSIP: 78466CAC0<br>LEI: 549300KY09TR3J12JU49 | Long             | DBT              | CORP              | US        |   1372000 | PA      | $1319513.04   | 0.23%             | 2027-09-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP CHARTER COM                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |  -2700000 | PA      | $-2700000.00  | -0.47%            |  |  |  | No            |                  2 | On Loan: No      |
| LIBERTY MUTUAL GROUP INC                         | Liberty Mutual Group Inc                                                         | CUSIP: 000000000<br>LEI: QUR0DG15Z6FFGYCHH861 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100837.54    | 0.02%             | 2059-05-23      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| MELCO RESORTS FINANCE                            | Melco Resorts Finance Ltd                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    250000 | PA      | $232500.00    | 0.04%             | 2026-04-26      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO                              | American Express Co                                                              | CUSIP: 025816CH0<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    940000 | PA      | $831711.78    | 0.15%             | 2026-09-15      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| Nomura Asset Acceptance Corporation              | Nomura Asset Acceptance Corp Alternative Loan Trust Series 2006-AF1              | CUSIP: 65536PAC4<br>LEI: N0RUIPD25XQCBR0TK507 | Long             | ABS-MBS          | CORP              | US        |   6725535 | PA      | $1511469.87   | 0.26%             | 2036-05-25      | Variable      | 6.16%                 | No            |                  2 | On Loan: No      |
| TRIVIUM PACKAGING FIN                            | Trivium Packaging Finance BV                                                     | CUSIP: 89686QAA4<br>LEI: 724500GMZWW3PVYET548 | Long             | DBT              | CORP              | NL        |   1189000 | PA      | $1141368.66   | 0.20%             | 2026-08-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Renaissance Home Equity Loan Trust               | Renaissance Home Equity Loan Trust 2007-3                                        | CUSIP: 75971FAE3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3580014 | PA      | $1664351.99   | 0.29%             | 2037-09-25      | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| PETSMART INC/PETSMART FI                         | PetSmart Inc / PetSmart Finance Corp                                             | CUSIP: 71677KAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    895000 | PA      | $879552.95    | 0.15%             | 2029-02-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| REGAL REXNORD CORP                               | Regal Rexnord Corp                                                               | CUSIP: 758750AD5<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | DBT              | CORP              | US        |    795000 | PA      | $807096.37    | 0.14%             | 2028-04-15      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF COLOMBIA                             | Colombia Government International Bond                                           | CUSIP: 195325DS1<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    677000 | PA      | $511685.06    | 0.09%             | 2031-04-15      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| ARKO CORP                                        | Arko Corp                                                                        | CUSIP: 041242AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    232000 | PA      | $183906.40    | 0.03%             | 2029-11-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| JP MORGAN SECURITIES LLC                         | RRP WHITE CAP B                                                                  | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | Short            | RA               | CORP              | US        |   -430819 | PA      | $-430818.75   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE                                 | Societe Generale SA                                                              | CUSIP: 83367TBU2<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |   3000000 | PA      | $2793618.24   | 0.49%             | 2028-04-06      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| COMMSCOPE INC                                    | CommScope Inc                                                                    | CUSIP: 203372AX5<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |    604000 | PA      | $502745.44    | 0.09%             | 2029-09-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| AT&T INC                                         | AT&T Inc                                                                         | CUSIP: 00206RJK9<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    111000 | PA      | $101208.75    | 0.02%             | 2044-06-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust              | GS Mortgage-Backed Securities Trust 2021-PJ7                                     | CUSIP: 36262CAB6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2148719 | PA      | $1793761.55   | 0.31%             | 2052-01-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| IHS HOLDING LTD                                  | IHS Holding Ltd                                                                  | CUSIP: 44963HAB1<br>LEI: 213800CLGMKL63VKTD94 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $163713.00    | 0.03%             | 2028-11-29      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| VICI PROPERTIES / NOTE                           | VICI Properties LP / VICI Note Co Inc                                            | CUSIP: 92564RAB1<br>LEI: N/A                  | Long             | DBT              |  | US        |    696000 | PA      | $648142.03    | 0.11%             | 2029-12-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| SG Capital Partners                              | SG Residential Mortgage Trust 2022-2                                             | CUSIP: 78434KAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    728927 | PA      | $727486.97    | 0.13%             | 2062-08-25      | Variable      | 5.35%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                | SWAP/CDSWAP/SCDS: (ADLERR)                                                       | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              |  | XX        |      5414 | OU      | $-1046.57     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                               | Energy Transfer LP                                                               | CUSIP: 29278NAQ6<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   1055000 | PA      | $966905.18    | 0.17%             | 2030-05-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                      | RRP PNC FINANCI                                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -359092 | PA      | $-359092.50   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| NCR CORP                                         | NCR Corp                                                                         | CUSIP: 62886EAY4<br>LEI: 549300YKTY8JX1DV2R67 | Long             | DBT              | CORP              | US        |    143000 | PA      | $125962.98    | 0.02%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                         | CHS/Community Health Systems Inc                                                 | CUSIP: 12543DBK5<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |    416000 | PA      | $318236.93    | 0.06%             | 2031-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| GRUPO AVAL LTD                                   | Grupo Aval Ltd                                                                   | CUSIP: 40053FAC2<br>LEI: 549300J4FW1ELLQ80113 | Long             | DBT              | CORP              | KY        |    512000 | PA      | $421734.40    | 0.07%             | 2030-02-04      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| DIC ASSET AG                                     | DIC Asset AG                                                                     | CUSIP: 000000000<br>LEI: 52990044JL2ZPWONU738 | Long             | DBT              | CORP              | DE        |    100000 | PA      | $74448.05     | 0.01%             | 2026-09-22      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL                           | NextEra Energy Capital Holdings Inc                                              | CUSIP: 65339KBK5<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2385552.35   | 0.42%             | 2079-05-01      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Momentive Performance Materials Inc.             | Momentive Performance Materials Inc. Term Loan B                                 | CUSIP: 60877JAB8<br>LEI: 54930021ZH8MCUXACZ50 | Long             | LON              | CORP              | US        |         0 | PA      | $0.32         | 0.00%             | 2024-05-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CROWDSTRIKE HOLDINGS INC                         | Crowdstrike Holdings Inc                                                         | CUSIP: 22788CAA3<br>LEI: 549300YBY08K9KM4HX32 | Long             | DBT              | CORP              | US        |     53000 | PA      | $45478.21     | 0.01%             | 2029-02-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                         | Ford Motor Credit Co LLC                                                         | CUSIP: 345397A86<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    320000 | PA      | $295129.60    | 0.05%             | 2027-08-17      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| BURLINGTN NORTH SANTA FE                         | Burlington Northern Santa Fe LLC                                                 | CUSIP: 12189LAK7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $472814.39    | 0.08%             | 2042-09-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| TALLGRASS NRG PRTNR/FIN                          | Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp                     | CUSIP: 87470LAJ0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     36000 | PA      | $32788.08     | 0.01%             | 2030-12-31      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| VERMILION ENERGY INC                             | Vermilion Energy Inc                                                             | CUSIP: 923725AD7<br>LEI: WT03B8BB1IX8WI9ZGV02 | Long             | DBT              | CORP              | CA        |    204000 | PA      | $188190.00    | 0.03%             | 2030-05-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| BROOKFIELD RESID PROPERT                         | Brookfield Residential Properties Inc / Brookfield Residential US LLC            | CUSIP: 11283YAG5<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    266000 | PA      | $211243.90    | 0.04%             | 2029-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KENBOURNE INVEST SA                              | Kenbourne Invest SA                                                              | CUSIP: 48855KAC4<br>LEI: 222100QGH6Y9KFYZ4B27 | Long             | DBT              | CORP              | LU        |    200000 | PA      | $151000.00    | 0.03%             | 2028-01-22      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| LAMB WESTON HLD                                  | Lamb Weston Holdings Inc                                                         | CUSIP: 513272AD6<br>LEI: 5493005SMYID1D2OY946 | Long             | DBT              | CORP              | US        |    368000 | PA      | $331660.00    | 0.06%             | 2030-01-31      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| KINETIK HOLDINGS LP                              | Kinetik Holdings LP                                                              | CUSIP: 49461MAA8<br>LEI: 549300RD6AJIMYC0HY12 | Long             | DBT              | CORP              | US        |    709000 | PA      | $673550.00    | 0.12%             | 2030-06-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ALBERTSONS COS/SAFEWAY                           | Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC            | CUSIP: 013092AB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    377000 | PA      | $368517.50    | 0.06%             | 2028-02-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust                     | CSMC Series 2011-4R                                                              | CUSIP: 12645KAC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1397146 | PA      | $1170705.20   | 0.20%             | 2037-09-27      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                          | RRP ALTRIA GROU                                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -571875 | PA      | $-571875.00   | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| Callon Petroleum Co                              | Callon Petroleum Co                                                              | CUSIP: 13123XAZ5<br>LEI: 549300EFOWPEB0WLZW21 | Long             | DBT              | CORP              | US        |    152000 | PA      | $146399.03    | 0.03%             | 2026-07-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| CALPINE CORP                                     | Calpine Corp                                                                     | CUSIP: 131347CQ7<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |     58000 | PA      | $49700.72     | 0.01%             | 2031-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Amentum Government Services Holdings LLC         | Amentum Government Services Holdings LLC Term Loan B                             | CUSIP: 57776DAB9<br>LEI: 5493008CT6B5L54YSE94 | Long             | LON              | CORP              | US        |     78975 | PA      | $78119.70     | 0.01%             | 2027-01-29      | Floating      | 8.57%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                             | Bank of America Corp                                                             | CUSIP: 06051GLC1<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    570000 | PA      | $601087.92    | 0.11%             | 2028-11-10      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| UNITED RENTALS NORTH AM                          | United Rentals North America Inc                                                 | CUSIP: 911365BF0<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |    173000 | PA      | $171918.75    | 0.03%             | 2027-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Benefit Street Partners CLO Ltd                  | Benefit Street Partners CLO XX Ltd                                               | CUSIP: 08182FAU3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $232698.85    | 0.04%             | 2034-07-15      | Floating      | 6.84%                 | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE                                 | Societe Generale SA                                                              | CUSIP: 83370RAA6<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |   3000000 | PA      | $2579788.47   | 0.45%             | 2030-11-18      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| APACHE CORP                                      | Apache Corp                                                                      | CUSIP: 037411BF1<br>LEI: 72ZZ1XRHOOU9P9X16K08 | Long             | DBT              | CORP              | US        |    315000 | PA      | $288174.60    | 0.05%             | 2030-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| BALL CORP                                        | Ball Corp                                                                        | CUSIP: 058498AX4<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | DBT              | CORP              | US        |    481000 | PA      | $393293.97    | 0.07%             | 2031-09-15      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                          | Royal Caribbean Cruises Ltd                                                      | CUSIP: 780153BG6<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |     92000 | PA      | $79120.00     | 0.01%             | 2028-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Banff Merger Sub Inc                             | Banff Merger Sub Inc 2021 USD Term Loan                                          | CUSIP: 05988HAE7<br>LEI: 5493006T045HLTF7YX04 | Long             | LON              | CORP              | US        |    212674 | PA      | $208713.93    | 0.04%             | 2025-10-02      | Floating      | 8.32%                 | No            |                  2 | On Loan: No      |
| THETA CAPITAL PTE LTD                            | Theta Capital Pte Ltd                                                            | CUSIP: 000000000<br>LEI: 2549003I5QVCGQHCYJ52 | Long             | DBT              | CORP              | SG        |    200000 | PA      | $172912.50    | 0.03%             | 2025-01-22      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AG                                 | Deutsche Bank AG                                                                 | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    100000 | PA      | $100355.72    | 0.02%             | 2032-06-24      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BX Trust                                         | BX Trust 2021-SDMF                                                               | CUSIP: 12434CAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    199000 | PA      | $193339.31    | 0.03%             | 2034-09-15      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| TALLGRASS NRG PRTNR/FIN                          | Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp                     | CUSIP: 87470LAG6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     53000 | PA      | $50249.45     | 0.01%             | 2027-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NOMURA SECURITIES INTERNATIONAL INC              | RRP VERSCEND ES                                                                  | CUSIP: 000000000<br>LEI: OXTKY6Q8X53C9ILVV871 | Short            | RA               | CORP              | US        |  -1451250 | PA      | $-1451250.00  | -0.25%            |  |  |  | No            |                  2 | On Loan: No      |
| KINDER MORGAN INC                                | Kinder Morgan Inc                                                                | CUSIP: 49456BAV3<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |    508000 | PA      | $491223.16    | 0.09%             | 2033-02-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| VISTRA CORP                                      | Vistra Corp                                                                      | CUSIP: 92840MAC6<br>LEI: 549300KP43CPCUJOOG15 | Long             | DBT              | CORP              | US        |    307000 | PA      | $287045.00    | 0.05%             | 2026-12-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| JP MORGAN SECURITIES LLC                         | RRP VENTURE GLO                                                                  | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | Short            | RA               | CORP              | US        |  -1247686 | PA      | $-1247686.25  | -0.22%            |  |  |  | No            |                  2 | On Loan: No      |
| CAESARS ENTERTAIN INC                            | Caesars Entertainment Inc                                                        | CUSIP: 28470RAK8<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |   2072000 | PA      | $2103080.00   | 0.37%             | 2027-07-01      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                           | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCP6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1265000 | PA      | $986130.75    | 0.17%             | 2034-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CONSTELLIUM SE                                   | Constellium SE                                                                   | CUSIP: 21039CAA2<br>LEI: 724500KRJEMC79KAAU28 | Long             | DBT              | CORP              | FR        |    250000 | PA      | $237000.00    | 0.04%             | 2028-06-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| POST HOLDINGS INC                                | Post Holdings Inc                                                                | CUSIP: 737446AR5<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |     14000 | PA      | $12075.00     | 0.00%             | 2031-09-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP ICAHN ENTER                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -351250 | PA      | $-351250.00   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| GLP CAPITAL LP / FIN II                          | GLP Capital LP / GLP Financing II Inc                                            | CUSIP: 361841AR0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    698000 | PA      | $578725.12    | 0.10%             | 2032-01-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                               | Dominican Republic International Bond                                            | CUSIP: 25714PEF1<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |    339000 | PA      | $288213.56    | 0.05%             | 2032-09-23      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| NOMURA SECURITIES INTERNATIONAL INC              | RRP ALLIANT HOL                                                                  | CUSIP: 000000000<br>LEI: OXTKY6Q8X53C9ILVV871 | Short            | RA               | CORP              | US        |   -887500 | PA      | $-887500.00   | -0.16%            |  |  |  | No            |                  2 | On Loan: No      |
| BLACKSTONE HOLDINGS FINA                         | Blackstone Holdings Finance Co LLC                                               | CUSIP: 09261BAJ9<br>LEI: 549300D2L6J4NC1QVZ22 | Long             | DBT              | CORP              | US        |    823000 | PA      | $856781.12    | 0.15%             | 2027-11-03      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP CCO HOLDING                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -198352 | PA      | $-198352.50   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| LADDER CAP FIN LLLP/CORP                         | Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp               | CUSIP: 505742AP1<br>LEI: N/A                  | Long             | DBT              |  | US        |     85000 | PA      | $70620.55     | 0.01%             | 2029-06-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Dominican Republic                               | Dominican Republic International Bond                                            | CUSIP: 000000000<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |    207000 | PA      | $212731.31    | 0.04%             | 2026-01-29      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| MASONITE INTERNATIONAL C                         | Masonite International Corp                                                      | CUSIP: 575385AD1<br>LEI: 549300H0H07ZFT4JYM32 | Long             | DBT              | CORP              | CA        |    161000 | PA      | $150699.22    | 0.03%             | 2028-02-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| HAWAIIAN BRAND INTELLECT                         | Hawaiian Brand Intellectual Property Ltd / HawaiianMiles Loyalty Ltd             | CUSIP: 41984LAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    317000 | PA      | $302731.83    | 0.05%             | 2026-01-20      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| AXALTA COAT/DUTCH HLD BV                         | Axalta Coating Systems LLC / Axalta Coating Systems Dutch Holding B BV           | CUSIP: 05454NAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    600000 | PA      | $567000.00    | 0.10%             | 2027-06-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF COLOMBIA                             | Colombia Government International Bond                                           | CUSIP: 195325EF8<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    544000 | PA      | $558382.00    | 0.10%             | 2033-04-20      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES                           | PNC Financial Services Group Inc/The                                             | CUSIP: 693475BF1<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |    377000 | PA      | $377113.10    | 0.07%             | 2027-09-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                         | Madison Park Funding XXX LTD                                                     | CUSIP: 55821TAA5<br>LEI: 549300FFTJ3WPTJK8589 | Long             | ABS-CBDO         | CORP              | KY        |    238453 | PA      | $236173.25    | 0.04%             | 2029-04-15      | Floating      | 5.54%                 | No            |                  2 | On Loan: No      |
| Galaxy US Opco Inc.                              | Galaxy US Opco Inc. Term Loan                                                    | CUSIP: 36321DAB3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    170572 | PA      | $155007.76    | 0.03%             | 2029-04-29      | Variable      | 9.31%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                           | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPBT9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    711000 | PA      | $677618.55    | 0.12%             | 2027-05-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                      | SWP: OIS 3.313500 01-DEC-2042                                                    | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |   1800000 | OU      | $36931.27     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                            | TENET HEALTHCARE CORP                                                            | CUSIP: 88033GDS6<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    231000 | PA      | $225802.50    | 0.04%             | 2027-02-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                          | RRP TELECOM ITA                                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -354914 | PA      | $-354913.75   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| NOVELIS SHEET INGOT GMBH                         | Novelis Sheet Ingot GmbH                                                         | CUSIP: 000000000<br>LEI: 9845005E95899E77AY49 | Long             | DBT              | CORP              | DE        |    300000 | PA      | $283367.90    | 0.05%             | 2029-04-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| SASOL FINANCING USA LLC                          | Sasol Financing USA LLC                                                          | CUSIP: 80386WAD7<br>LEI: 549300XRB1PFMESFEL85 | Long             | DBT              | CORP              | US        |    320000 | PA      | $278368.00    | 0.05%             | 2031-03-18      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                    | Citigroup Inc                                                                    | CUSIP: 172967MV0<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1825800.00   | 0.32%             | 2026-02-18      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| CARNIVAL HLDGS BM LTD                            | Carnival Holdings Bermuda Ltd                                                    | CUSIP: 14366RAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2061000 | PA      | $2225880.00   | 0.39%             | 2028-05-01      | Fixed         | 10.38%                | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP CLEAR CHANN                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -483348 | PA      | $-483347.50   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| Cloud Software Group, Inc.                       | Cloud Software Group, Inc. 2022 USD Term Loan                                    | CUSIP: 88632NAV2<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | LON              | CORP              | US        |    807000 | PA      | $743448.75    | 0.13%             | 2029-03-30      | Variable      | 9.18%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp                             | Bank of America Corp                                                             | CUSIP: 060505EN0<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   2865000 | PA      | $2866146.00   | 0.50%             | 2025-03-17      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                   | Morgan Stanley                                                                   | CUSIP: 61762V606<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |     60125 | NS      | $1512143.75   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| CREDIT AGRICOLE SA                               | Credit Agricole SA                                                               | CUSIP: 000000000<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |    100000 | PA      | $112367.86    | 0.02%             | 2028-09-23      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| BHP BILLITON FIN USA LTD                         | BHP Billiton Finance USA Ltd                                                     | CUSIP: 055451AR9<br>LEI: 5493003NUVITP3TMY274 | Long             | DBT              | CORP              | AU        |    250000 | PA      | $232790.09    | 0.04%             | 2042-02-24      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                    | Carnival Corp                                                                    | CUSIP: 143658BL5<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |     91000 | PA      | $82810.00     | 0.01%             | 2026-03-01      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| Countrywide Alternative Loan Trust               | Alternative Loan Trust 2006-OA18                                                 | CUSIP: 23244GAD4<br>LEI: 5493004SLAYUFMHIS127 | Long             | ABS-MBS          | CORP              | US        |   1674260 | PA      | $1435216.43   | 0.25%             | 2046-12-25      | Floating      | 4.75%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                 | CIFC Funding 2017-IV Ltd                                                         | CUSIP: 12551JAL0<br>LEI: 254900JEH56UBUEZJW15 | Long             | ABS-CBDO         | CORP              | KY        |    484385 | PA      | $480460.85    | 0.08%             | 2030-10-24      | Floating      | 5.77%                 | No            |                  2 | On Loan: No      |
| UBER TECHNOLOGIES INC                            | Uber Technologies Inc                                                            | CUSIP: 90353TAJ9<br>LEI: 549300B2FTG34FILDR98 | Long             | DBT              | CORP              | US        |   1537000 | PA      | $1350633.14   | 0.24%             | 2025-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| GFL ENVIRONMENTAL INC                            | GFL Environmental Inc                                                            | CUSIP: 36168QAM6<br>LEI: 549300FYK4MBXWIVZU26 | Long             | DBT              | CORP              | CA        |    121000 | PA      | $107892.07    | 0.02%             | 2028-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| ENTEGRIS INC                                     | Entegris Inc                                                                     | CUSIP: 29362UAD6<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | DBT              | CORP              | US        |    202000 | PA      | $172269.43    | 0.03%             | 2029-05-01      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                 | COLT 2022-5 Mortgage Loan Trust                                                  | CUSIP: 19688LAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1466944 | PA      | $1459271.02   | 0.26%             | 2067-04-25      | Variable      | 4.55%                 | No            |                  2 | On Loan: No      |
| UnitedHealth Group Inc                           | UnitedHealth Group Inc                                                           | CUSIP: 91324PBW1<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |    750000 | PA      | $709361.36    | 0.12%             | 2042-03-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| ZI TECH LLC/ZI FIN CORP                          | ZoomInfo Technologies LLC/ZoomInfo Finance Corp                                  | CUSIP: 98981BAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1130000 | PA      | $974625.00    | 0.17%             | 2029-02-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK SA | RRP NEXTERA ENE                                                                  | CUSIP: 000000000<br>LEI: 1VUV7VQFKUOQSJ21A208 | Short            | RA               | CORP              | US        |  -1089375 | PA      | $-1089375.00  | -0.19%            |  |  |  | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                           | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPBX0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     74000 | PA      | $69097.50     | 0.01%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Frontier Communications Corp.                    | Frontier Communications Corp. 2021 1st Lien Term Loan                            | CUSIP: 35906EAQ3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    222283 | PA      | $217490.14    | 0.04%             | 2028-05-01      | Floating      | 8.50%                 | No            |                  2 | On Loan: No      |
| METIS MERGER SUB LLC                             | Metis Merger Sub LLC                                                             | CUSIP: 59155LAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    158000 | PA      | $134695.00    | 0.02%             | 2029-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| OCP CLO Ltd                                      | OCP CLO 2017-13 Ltd                                                              | CUSIP: 67097LAH9<br>LEI: 254900M77QLN2EBJHE11 | Long             | ABS-CBDO         | CORP              | KY        |    590000 | PA      | $582926.14    | 0.10%             | 2030-07-15      | Floating      | 5.75%                 | No            |                  2 | On Loan: No      |
| DYCOM INDUSTRIES INC                             | Dycom Industries Inc                                                             | CUSIP: 267475AD3<br>LEI: 549300F56EKTHQI3WT60 | Long             | DBT              | CORP              | US        |    151000 | PA      | $135182.75    | 0.02%             | 2029-04-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                | RRP CORNING INC                                                                  | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Short            | RA               | CORP              | US        |  -1285444 | PA      | $-1285443.75  | -0.22%            |  |  |  | No            |                  2 | On Loan: No      |
| MOLINA HEALTHCARE INC                            | Molina Healthcare Inc                                                            | CUSIP: 60855RAL4<br>LEI: 549300NQQCEQ46YHZ591 | Long             | DBT              | CORP              | US        |    284000 | PA      | $238099.92    | 0.04%             | 2032-05-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Ziggo Bond Co BV                                 | Ziggo Bond Co BV                                                                 | CUSIP: 98954UAB9<br>LEI: 213800JYI4P7V5QDOG59 | Long             | DBT              | CORP              | NL        |    638000 | PA      | $603407.64    | 0.11%             | 2027-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE PRIVATE CRE                           | Blackstone Private Credit Fund                                                   | CUSIP: 09261HAK3<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |     97000 | PA      | $84852.12     | 0.01%             | 2027-03-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| TWILIO INC                                       | Twilio Inc                                                                       | CUSIP: 90138FAC6<br>LEI: 5493004W8TRGD63APX93 | Long             | DBT              | CORP              | US        |     61000 | PA      | $51792.36     | 0.01%             | 2029-03-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| VIVO ENERGY INVESTMENTS                          | Vivo Energy Investments BV                                                       | CUSIP: 92856HAB0<br>LEI: 724500P3OXMB2IERLM56 | Long             | DBT              | CORP              | NL        |    349000 | PA      | $325180.75    | 0.06%             | 2027-09-24      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                              | JPMorgan Chase & Co                                                              | CUSIP: 46647PDK9<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    254000 | PA      | $262060.15    | 0.05%             | 2033-09-14      | Fixed         | 5.72%                 | No            |                  2 | On Loan: No      |
| SLM CORP                                         | SLM Corp                                                                         | CUSIP: 78442PGE0<br>LEI: 4K8SLPBF5DXXGPW03H93 | Long             | DBT              | CORP              | US        |    221000 | PA      | $195187.20    | 0.03%             | 2026-11-02      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| MSCI INC                                         | MSCI Inc                                                                         | CUSIP: 55354GAQ3<br>LEI: 549300HTIN2PD78UB763 | Long             | DBT              | CORP              | US        |    233000 | PA      | $191060.00    | 0.03%             | 2033-08-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| AVANTOR FUNDING INC                              | Avantor Funding Inc                                                              | CUSIP: 05352TAA7<br>LEI: 5493003VM0XB4U8YD238 | Long             | DBT              | CORP              | US        |    931000 | PA      | $877551.29    | 0.15%             | 2028-07-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY OPERATING                         | NextEra Energy Operating Partners LP                                             | CUSIP: 65342QAC6<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |     11000 | PA      | $10257.50     | 0.00%             | 2024-09-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES USA, INC.                        | RRP NORTHERN TR                                                                  | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | Short            | RA               | CORP              | US        |   -304500 | PA      | $-304500.00   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| Post Holdings Inc                                | Post Holdings Inc                                                                | CUSIP: 737446AM6<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |     42000 | PA      | $41373.36     | 0.01%             | 2027-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Residential Asset Securitization Trust           | Residential Asset Securitization Trust 2006-A8                                   | CUSIP: 761119AK2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   6341429 | PA      | $1227096.88   | 0.21%             | 2036-08-25      | Floating      | 5.11%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                      | RRP TITAN ACQUI                                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |  -1006761 | PA      | $-1006761.25  | -0.18%            |  |  |  | No            |                  2 | On Loan: No      |
| JP MORGAN SECURITIES LLC                         | RRP SRS DISTRIB                                                                  | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | Short            | RA               | CORP              | US        |   -413105 | PA      | $-413105.00   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP WESCO DISTR                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -439061 | PA      | $-439061.25   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| PRESTIGE BRANDS INC                              | Prestige Brands Inc                                                              | CUSIP: 74112BAM7<br>LEI: 549300JBVP4J6D42I235 | Long             | DBT              | CORP              | US        |    190000 | PA      | $161329.00    | 0.03%             | 2031-04-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| ILIAD HOLDING SAS                                | Iliad Holding SASU                                                               | CUSIP: 449691AA2<br>LEI: 9695009PXA7OI9NXN582 | Long             | DBT              | CORP              | FR        |   1522000 | PA      | $1441265.51   | 0.25%             | 2026-10-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| AXALTA COATING SYSTEMS                           | Axalta Coating Systems LLC                                                       | CUSIP: 05453GAC9<br>LEI: 549300G80QONCHILSF69 | Long             | DBT              | CORP              | US        |    245000 | PA      | $210700.00    | 0.04%             | 2029-02-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| AIR CANADA                                       | Air Canada                                                                       | CUSIP: 008911BK4<br>LEI: 4B4HI3CGXMBDC0G6BM51 | Long             | DBT              | CORP              | CA        |    495000 | PA      | $457873.59    | 0.08%             | 2026-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                                | HSBC Holdings PLC                                                                | CUSIP: 404280CQ0<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    465000 | PA      | $394203.75    | 0.07%             | 2031-03-09      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Carval CLO LTD                                   | CarVal CLO III Ltd                                                               | CUSIP: 14686VAA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $456962.65    | 0.08%             | 2032-07-20      | Floating      | 11.25%                | No            |                  2 | On Loan: No      |
| CLEAN HARBORS INC                                | Clean Harbors Inc                                                                | CUSIP: 184496AN7<br>LEI: 5493000SJVZVZJKHJF48 | Long             | DBT              | CORP              | US        |    297000 | PA      | $286539.66    | 0.05%             | 2027-07-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| TRIVIUM PACKAGING FIN                            | Trivium Packaging Finance BV                                                     | CUSIP: 89686QAB2<br>LEI: 724500GMZWW3PVYET548 | Long             | DBT              | CORP              | NL        |   1924000 | PA      | $1850387.76   | 0.32%             | 2027-08-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                          | RRP BIP V CHINO                                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |  -1407835 | PA      | $-1407835.00  | -0.25%            |  |  |  | No            |                  2 | On Loan: No      |
| SPECIALTY BUILDING PRODU                         | Specialty Building Products Holdings LLC / SBP Finance Corp                      | CUSIP: 84749AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    111000 | PA      | $99853.38     | 0.02%             | 2026-09-30      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                         | Occidental Petroleum Corp                                                        | CUSIP: 674599ED3<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |   1047000 | PA      | $1111544.93   | 0.19%             | 2030-09-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Enbridge Inc                                     | Enbridge Inc                                                                     | CUSIP: 29250NAW5<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |   1865000 | PA      | $1774888.35   | 0.31%             | 2078-03-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| EG GLOBAL FINANCE PLC                            | eG Global Finance PLC                                                            | CUSIP: 28228PAB7<br>LEI: 549300TL8Q5207VYET27 | Long             | DBT              | CORP              | GB        |    299000 | PA      | $281807.50    | 0.05%             | 2025-10-30      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| AbbVie Inc                                       | AbbVie Inc                                                                       | CUSIP: 00287YAW9<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $919299.73    | 0.16%             | 2046-05-14      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| CALLON PETROLEUM CO                              | Callon Petroleum Co                                                              | CUSIP: 13123XBF8<br>LEI: 549300EFOWPEB0WLZW21 | Long             | DBT              | CORP              | US        |    775000 | PA      | $749812.50    | 0.13%             | 2030-06-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| HARVEST MIDSTREAM I LP                           | Harvest Midstream I LP                                                           | CUSIP: 417558AA1<br>LEI: 549300DW5M17KJOXCY66 | Long             | DBT              | CORP              | US        |     78000 | PA      | $76732.50     | 0.01%             | 2028-09-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                     | Broadcom Inc                                                                     | CUSIP: 11135FBP5<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    298000 | PA      | $231354.16    | 0.04%             | 2035-11-15      | Fixed         | 3.14%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                          | RRP RADIATE HOL                                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -635029 | PA      | $-635028.75   | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| UNITED AIR 2020-1 B PTT                          | United Airlines 2020-1 Class B Pass Through Trust                                | CUSIP: 90932VAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     43410 | PA      | $42300.46     | 0.01%             | 2026-01-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| IMPULSORA PIPELINE                               | IMPULSORA PIPELINE                                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1545642 | PA      | $1384995.14   | 0.24%             | 2042-12-31      | Fixed         | 6.05%                 | No            |                  3 | On Loan: No      |
| ADAPTHEALTH LLC                                  | AdaptHealth LLC                                                                  | CUSIP: 00653VAE1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     34000 | PA      | $30261.11     | 0.01%             | 2030-03-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                             | RRP CELANESE US                                                                  | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |   -331925 | PA      | $-331925.00   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| BANCO MERCANTIL DE NORTE                         | Banco Mercantil del Norte SA/Grand Cayman                                        | CUSIP: 05971PAA6<br>LEI: 549300QTVYRPFHS0J362 | Long             | DBT              | CORP              | MX        |    292000 | PA      | $285393.50    | 0.05%             | 2024-09-27      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                 | CIFC Funding 2020-I Ltd                                                          | CUSIP: 12555QAW6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $472882.80    | 0.08%             | 2036-07-15      | Floating      | 7.89%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE SA                                 | Altice France SA/France                                                          | CUSIP: 000000000<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |    100000 | PA      | $98387.10     | 0.02%             | 2027-02-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| COMMERCIAL METALS CO                             | Commercial Metals Co                                                             | CUSIP: 201723AR4<br>LEI: 549300OQS2LO07ZJ7N73 | Long             | DBT              | CORP              | US        |     46000 | PA      | $40353.01     | 0.01%             | 2032-03-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| NOMURA SECURITIES INTERNATIONAL INC              | RRP SINCLAIR TE                                                                  | CUSIP: 000000000<br>LEI: OXTKY6Q8X53C9ILVV871 | Short            | RA               | CORP              | US        |   -459000 | PA      | $-459000.00   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| Ford Motor Credit Co LLC                         | Ford Motor Credit Co LLC                                                         | CUSIP: 345397YT4<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    400000 | PA      | $361000.00    | 0.06%             | 2027-11-02      | Fixed         | 3.82%                 | No            |                  2 | On Loan: No      |
| VODAFONE GROUP PLC                               | Vodafone Group PLC                                                               | CUSIP: 000000000<br>LEI: 213800TB53ELEUKM7Q61 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $98297.96     | 0.02%             | 2080-08-27      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| TEVA PHARMACEUTICALS NE                          | Teva Pharmaceutical Finance Netherlands III BV                                   | CUSIP: 88167AAN1<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $201835.00    | 0.04%             | 2025-01-31      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                             | RRP UNITED AIRL                                                                  | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |   -649112 | PA      | $-649111.67   | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| CANTOR FITZGERALD & CO                           | RRP FNMA 30YR U                                                                  | CUSIP: 000000000<br>LEI: 5493004J7H4GCPG6OB62 | Short            | RA               | CORP              | US        |  -3687609 | PA      | $-3687609.41  | -0.65%            |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae                                       | Fannie Mae Pool                                                                  | CUSIP: 3140JL5Q3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    121635 | PA      | $121978.33    | 0.02%             | 2049-01-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                          | RRP PICARD MIDC                                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |  -2139825 | PA      | $-2139825.00  | -0.37%            |  |  |  | No            |                  2 | On Loan: No      |
| Brand Energy & Infrastructure Services, Inc.     | Brand Energy & Infrastructure Services, Inc. 2017 Term Loan                      | CUSIP: 10524MAN7<br>LEI: 549300B658W2BPDQMW42 | Long             | LON              | CORP              | US        |   2575889 | PA      | $2399723.54   | 0.42%             | 2024-06-21      | Floating      | 9.07%                 | No            |                  2 | On Loan: No      |
| AT&T Inc                                         | AT&T Inc                                                                         | CUSIP: 00206RCQ3<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |   2545000 | PA      | $2345823.26   | 0.41%             | 2046-05-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP 1011778 BC                                                                   | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -108134 | PA      | $-108133.75   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                      | RRP BANK OF AME                                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |  -2635800 | PA      | $-2635800.00  | -0.46%            |  |  |  | No            |                  2 | On Loan: No      |
| ARD FINANCE SA                                   | ARD Finance SA                                                                   | CUSIP: 00191AAD8<br>LEI: 6354006P6QPGGPVJW880 | Long             | DBT              | CORP              | LU        |    864552 | PA      | $678189.17    | 0.12%             | 2027-06-30      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Northrop Grumman Corp                            | Northrop Grumman Corp                                                            | CUSIP: 666807BJ0<br>LEI: RIMU48P07456QXSO0R61 | Long             | DBT              | CORP              | US        |    530000 | PA      | $452778.13    | 0.08%             | 2045-04-15      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| FANTASIA HOLDINGS GROUP                          | Fantasia Holdings Group Co Ltd                                                   | CUSIP: 000000000<br>LEI: 5493005JQNLB3I01JW62 | Long             | DBT              | CORP              | KY        |    400000 | PA      | $69000.00     | 0.01%             | 2023-07-28      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| HILTON WORLDWIDE FIN LLC                         | Hilton Worldwide Finance LLC / Hilton Worldwide Finance Corp                     | CUSIP: 432891AK5<br>LEI: 549300406TN7EY0NPH20 | Long             | DBT              | CORP              | US        |    246000 | PA      | $238164.18    | 0.04%             | 2027-04-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP VERTICAL US                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |  -1214860 | PA      | $-1214860.00  | -0.21%            |  |  |  | No            |                  2 | On Loan: No      |
| SS&C Technologies Inc.                           | SS&C Technologies Inc. 2018 Term Loan B3                                         | CUSIP: 78466DBD5<br>LEI: 549300KY09TR3J12JU49 | Long             | LON              | CORP              | US        |     86402 | PA      | $86186.10     | 0.02%             | 2025-04-16      | Floating      | 6.32%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                          | RRP KINDER MORG                                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -476885 | PA      | $-476885.00   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| ALTICE FINANCING SA                              | Altice Financing SA                                                              | CUSIP: 02154CAF0<br>LEI: 549300DIYGW8HVDF7Q17 | Long             | DBT              | CORP              | LU        |    462000 | PA      | $392833.98    | 0.07%             | 2028-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHARLES SCHWAB CORP                              | Charles Schwab Corp/The                                                          | CUSIP: 808513BJ3<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |   1060000 | PA      | $911865.00    | 0.16%             | 2030-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FREEPORT INDONESIA PT                            | Freeport Indonesia PT                                                            | CUSIP: 000000000<br>LEI: 549300T4HTQHRKLNE619 | Long             | DBT              | CORP              | ID        |    390000 | PA      | $378342.90    | 0.07%             | 2027-04-14      | Fixed         | 4.76%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                 | COLT 2020-2 Mortgage Loan Trust                                                  | CUSIP: 19688JAD9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2550000 | PA      | $2449044.99   | 0.43%             | 2065-03-25      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| DCP MIDSTREAM OPERATING                          | DCP Midstream Operating LP                                                       | CUSIP: 26439XAH6<br>LEI: 549300Y6CTBSE0QIPL28 | Long             | DBT              | CORP              | US        |    182000 | PA      | $190907.08    | 0.03%             | 2036-11-03      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| Republic of Guatemala                            | Guatemala Government Bond                                                        | CUSIP: 000000000<br>LEI: 529900QKDFFU9UWW5315 | Long             | DBT              | NUSS              | GT        |    200000 | PA      | $193350.00    | 0.03%             | 2026-05-03      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| LA FINAC ATALIAN SA                              | La Financiere Atalian SASU                                                       | CUSIP: 000000000<br>LEI: 969500ICOLJMB33J0L87 | Long             | DBT              | CORP              | FR        |    100000 | PA      | $72621.64     | 0.01%             | 2025-05-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Sabre GLBL Inc.                                  | Sabre GLBL Inc. 2021 Term Loan B1                                                | CUSIP: 78571YBG4<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | LON              | CORP              | US        |     60281 | PA      | $55420.98     | 0.01%             | 2027-12-17      | Floating      | 8.07%                 | No            |                  2 | On Loan: No      |
| Aptiv PLC                                        | Aptiv PLC                                                                        | CUSIP: 03835VAF3<br>LEI: N/A                  | Long             | DBT              | CORP              | JE        |    280000 | PA      | $222388.51    | 0.04%             | 2046-10-01      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Jay Park CLO, Ltd.                               | Jay Park CLO Ltd                                                                 | CUSIP: 47206VAQ7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $239911.73    | 0.04%             | 2027-10-20      | Floating      | 7.46%                 | No            |                  2 | On Loan: No      |
| CQP HOLDCO LP/BIP-V CHIN                         | CQP Holdco LP / BIP-V Chinook Holdco LLC                                         | CUSIP: 12657NAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1969000 | PA      | $1793000.94   | 0.31%             | 2031-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                      | RRP FNMA 30YR F                                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |  -1223222 | PA      | $-1223221.65  | -0.21%            |  |  |  | No            |                  2 | On Loan: No      |
| Sotheby's                                        | Sotheby's 2021 Term Loan B                                                       | CUSIP: 08883CAE8<br>LEI: 549300P5BAAMQQ7VL735 | Long             | LON              | CORP              | US        |     76482 | PA      | $76099.53     | 0.01%             | 2027-01-15      | Floating      | 9.33%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                 | CIFC Funding 2013-IV Ltd                                                         | CUSIP: 12549FBM0<br>LEI: 549300QSQ98IRWUWDV20 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $248172.15    | 0.04%             | 2031-04-27      | Floating      | 5.87%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                            | Tenet Healthcare Corp                                                            | CUSIP: 88033GDM9<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |     61000 | PA      | $54314.71     | 0.01%             | 2029-06-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                       | Fannie Mae Pool                                                                  | CUSIP: 3140QBHS0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2218562 | PA      | $2231245.02   | 0.39%             | 2049-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PUMA INTERNATIONAL FINAN                         | Puma International Financing SA                                                  | CUSIP: 000000000<br>LEI: 222100YFBPO7IDRUBR17 | Long             | DBT              | CORP              | LU        |    483000 | PA      | $465612.00    | 0.08%             | 2024-10-06      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP NOVELIS COR                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -729386 | PA      | $-729386.25   | -0.13%            |  |  |  | No            |                  2 | On Loan: No      |
| CDK GLOBAL, INC.                                 | CDK Global, Inc. 2022 USD Term Loan B                                            | CUSIP: 15477BAB3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    129000 | PA      | $128637.51    | 0.02%             | 2029-07-06      | Variable      | 9.08%                 | No            |                  2 | On Loan: No      |
| Homeward Opportunities Fund I Trust              | Homeward Opportunities Fund Trust 2022-1                                         | CUSIP: 43789KAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1081819 | PA      | $1079863.47   | 0.19%             | 2067-07-25      | Variable      | 5.08%                 | No            |                  2 | On Loan: No      |
| Fremont Home Loan Trust                          | Fremont Home Loan Trust 2006-D                                                   | CUSIP: 35729VAD9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6328485 | PA      | $2298663.25   | 0.40%             | 2036-11-25      | Floating      | 4.66%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                       | Fannie Mae Pool                                                                  | CUSIP: 3140J57G8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1202827 | PA      | $1185028.43   | 0.21%             | 2047-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BERKSHIRE HATHAWAY FIN                           | Berkshire Hathaway Finance Corp                                                  | CUSIP: 084664BU4<br>LEI: 549300RLHFT5RU20WM87 | Long             | DBT              | CORP              | US        |    250000 | PA      | $245626.20    | 0.04%             | 2042-05-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp                             | Bank of America Corp                                                             | CUSIP: 060505EH3<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   4425000 | PA      | $4422256.50   | 0.77%             | 2024-09-05      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| UNITED NATURAL FOODS INC                         | United Natural Foods Inc                                                         | CUSIP: 911163AA1<br>LEI: 549300GKGW6WPZ282D40 | Long             | DBT              | CORP              | US        |     44000 | PA      | $42460.00     | 0.01%             | 2028-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                    | Carnival Corp                                                                    | CUSIP: 143658BG6<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    444000 | PA      | $464384.04    | 0.08%             | 2026-02-01      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| CRESTWOOD MID PARTNER LP                         | Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp               | CUSIP: 226373AR9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    369000 | PA      | $350058.31    | 0.06%             | 2029-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PARAGUAY                             | Paraguay Government International Bond                                           | CUSIP: 699149AJ9<br>LEI: 529900UXKJTJPCU0HK83 | Long             | DBT              | NUSS              | PY        |    200000 | PA      | $193725.00    | 0.03%             | 2031-04-28      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Countrywide Home Loans                           | CHL Mortgage Pass-Through Trust 2007-J2                                          | CUSIP: 12545EAJ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1466312 | PA      | $614713.45    | 0.11%             | 2037-07-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                    | TransDigm Inc                                                                    | CUSIP: 893647BQ9<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    382000 | PA      | $344680.60    | 0.06%             | 2029-05-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| APACHE CORP                                      | Apache Corp                                                                      | CUSIP: 037411BG9<br>LEI: 72ZZ1XRHOOU9P9X16K08 | Long             | DBT              | CORP              | US        |     83000 | PA      | $68665.88     | 0.01%             | 2049-07-01      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| NCR CORP                                         | NCR Corp                                                                         | CUSIP: 62886EBA5<br>LEI: 549300YKTY8JX1DV2R67 | Long             | DBT              | CORP              | US        |    197000 | PA      | $171597.69    | 0.03%             | 2029-04-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Republic of Paraguay                             | Paraguay Government International Bond                                           | CUSIP: 000000000<br>LEI: 529900UXKJTJPCU0HK83 | Long             | DBT              | NUSS              | PY        |    210000 | PA      | $189564.38    | 0.03%             | 2048-03-13      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| NORTHERN OIL AND GAS INC                         | Northern Oil and Gas Inc                                                         | CUSIP: 665531AG4<br>LEI: OKFF0PIZDDMNH4UCYE51 | Long             | DBT              | CORP              | US        |   1194000 | PA      | $1189319.52   | 0.21%             | 2028-03-01      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| Chamberlain Group Inc                            | Chamberlain Group Inc Term Loan B                                                | CUSIP: 15963CAC0<br>LEI: 25490092IFNOZBRVE539 | Long             | LON              | CORP              | US        |    328149 | PA      | $316391.09    | 0.06%             | 2028-11-03      | Floating      | 7.82%                 | No            |                  2 | On Loan: No      |
| CABLE ONE INC                                    | Cable One Inc                                                                    | CUSIP: 12685JAE5<br>LEI: 549300648QS85T0XSH18 | Long             | DBT              | CORP              | US        |    114000 | PA      | $91599.00     | 0.02%             | 2026-03-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Starwood Residential Mortgage Trust              | STAR 2021-1 Trust                                                                | CUSIP: 85573GAD4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1750000 | PA      | $1340241.35   | 0.23%             | 2065-05-25      | Variable      | 2.36%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP WEATHERFORD                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -296310 | PA      | $-296310.00   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| ECOPETROL SA                                     | Ecopetrol SA                                                                     | CUSIP: 279158AS8<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | CORP              | CO        |    339000 | PA      | $347068.20    | 0.06%             | 2033-01-13      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| Ball Corp                                        | Ball Corp                                                                        | CUSIP: 058498AT3<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | DBT              | CORP              | US        |     44000 | PA      | $43784.84     | 0.01%             | 2025-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Springs Windows Fashions, LLC                    | Springs Windows Fashions, LLC 2021 Term Loan B                                   | CUSIP: 78489HAB4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    532972 | PA      | $454193.83    | 0.08%             | 2028-10-06      | Floating      | 8.75%                 | No            |                  2 | On Loan: No      |
| AqGen Ascensus, Inc.                             | AqGen Ascensus, Inc. 2021 2nd Lien Term Loan                                     | CUSIP: 03836BAE9<br>LEI: 549300K5MHNFPEU2RK82 | Long             | LON              | CORP              | US        |    231968 | PA      | $206451.75    | 0.04%             | 2029-08-02      | Floating      | 11.31%                | No            |                  2 | On Loan: No      |
| ICAHN ENTERPRISES/FIN                            | Icahn Enterprises LP / Icahn Enterprises Finance Corp                            | CUSIP: 451102CC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    378000 | PA      | $329167.13    | 0.06%             | 2029-02-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| OUTFRONT MEDIA CAP LLC/C                         | Outfront Media Capital LLC / Outfront Media Capital Corp                         | CUSIP: 69007TAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    556000 | PA      | $511443.77    | 0.09%             | 2027-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JP MORGAN SECURITIES LLC                         | RRP KAISER ALUM                                                                  | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | Short            | RA               | CORP              | US        |   -195646 | PA      | $-195646.25   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                      | RRP ARDAGH META                                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -968365 | PA      | $-968365.00   | -0.17%            |  |  |  | No            |                  2 | On Loan: No      |
| VICI PROPERTIES LP                               | VICI Properties LP                                                               | CUSIP: 925650AB9<br>LEI: 254900X4QE7SGKQLLN38 | Long             | DBT              |  | US        |     56000 | PA      | $54226.32     | 0.01%             | 2028-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ALLIED UNIVERSAL                                 | Allied Universal Holdco LLC / Allied Universal Finance Corp                      | CUSIP: 019576AC1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1655000 | PA      | $1331613.00   | 0.23%             | 2029-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NABORS INDUSTRIES INC                            | Nabors Industries Inc                                                            | CUSIP: 62957HAJ4<br>LEI: 549300VFQWRKICUFNU92 | Long             | DBT              | CORP              | US        |    423000 | PA      | $423549.90    | 0.07%             | 2027-05-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                | RRP LIMA METRO                                                                   | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Short            | RA               | CORP              | US        |  -3250000 | PA      | $-3250000.00  | -0.57%            |  |  |  | No            |                  2 | On Loan: No      |
| Fertitta Entertainment, LLC                      | Fertitta Entertainment, LLC 2022 Term Loan B                                     | CUSIP: 31556PAB3<br>LEI: 984500A0805D8V551D35 | Long             | LON              | CORP              | US        |    469543 | PA      | $463608.39    | 0.08%             | 2029-01-27      | Floating      | 8.56%                 | No            |                  2 | On Loan: No      |
| White Cap Buyer LLC                              | White Cap Buyer LLC Term Loan B                                                  | CUSIP: 96350TAC4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    426974 | PA      | $422780.65    | 0.07%             | 2027-10-19      | Variable      | 8.31%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                      | RRP FNMA 30YR F                                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |    -31894 | PA      | $-31894.50    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| GRAPHIC PACKAGING INTERN                         | Graphic Packaging International LLC                                              | CUSIP: 38869AAB3<br>LEI: SO75N4VY5NXGQSK8YQ65 | Long             | DBT              | CORP              | US        |     11000 | PA      | $9835.90      | 0.00%             | 2028-03-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| ALBERTSONS COS/SAFEWAY                           | Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC            | CUSIP: 013092AF8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    756000 | PA      | $699269.76    | 0.12%             | 2026-03-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP CLEAR CHANN                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -364375 | PA      | $-364375.00   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| OZLM Ltd                                         | OZLM VIII Ltd                                                                    | CUSIP: 67107FBL0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    811202 | PA      | $804104.37    | 0.14%             | 2029-10-17      | Floating      | 5.77%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                      | RRP OCCIDENTAL                                                                   | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |  -1021250 | PA      | $-1021250.00  | -0.18%            |  |  |  | No            |                  2 | On Loan: No      |
| VICI PROPERTIES LP                               | VICI Properties LP                                                               | CUSIP: 925650AD5<br>LEI: 254900X4QE7SGKQLLN38 | Long             | DBT              |  | US        |    805000 | PA      | $770063.00    | 0.13%             | 2032-05-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Neuberger Berman CLO Ltd                         | Neuberger Berman Loan Advisers CLO 26 Ltd                                        | CUSIP: 64131QAJ9<br>LEI: 549300P0MOXZPIM3AS61 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $247845.48    | 0.04%             | 2030-10-18      | Floating      | 5.71%                 | No            |                  2 | On Loan: No      |
| Neuberger Berman CLO Ltd                         | Neuberger Berman CLO XV                                                          | CUSIP: 64129KBE6<br>LEI: 549300UTI4Y2IA4RUP16 | Long             | ABS-CBDO         | CORP              | KY        |    499575 | PA      | $495407.36    | 0.09%             | 2029-10-15      | Floating      | 5.71%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                     | Broadcom Inc                                                                     | CUSIP: 11135FAQ4<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    111000 | PA      | $103544.40    | 0.02%             | 2030-11-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                          | RRP NORTHERN OI                                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -909638 | PA      | $-909637.50   | -0.16%            |  |  |  | No            |                  2 | On Loan: No      |
| BANCO MERCANTIL DE NORTE                         | Banco Mercantil del Norte SA/Grand Cayman                                        | CUSIP: 05973KAA5<br>LEI: 549300QTVYRPFHS0J362 | Long             | DBT              | CORP              | MX        |    205000 | PA      | $189022.81    | 0.03%             | 2027-01-24      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP VMED O2 UK                                                                   | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -495300 | PA      | $-495300.00   | -0.09%            |  |  |  | No            |                  2 | On Loan: No      |
| LABL INC                                         | LABL Inc                                                                         | CUSIP: 50168QAC9<br>LEI: 5493004FUZN8R6Y3VB98 | Long             | DBT              | CORP              | US        |    332000 | PA      | $300045.00    | 0.05%             | 2028-11-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Ecopetrol SA                                     | Ecopetrol SA                                                                     | CUSIP: 279158AJ8<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | CORP              | CO        |    215000 | PA      | $153966.88    | 0.03%             | 2045-05-28      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                      | RRP UBER TECHNO                                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |  -1031176 | PA      | $-1031176.25  | -0.18%            |  |  |  | No            |                  2 | On Loan: No      |
| Rad CLO Ltd                                      | Rad CLO 17 Ltd                                                                   | CUSIP: 75009KAA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $236494.10    | 0.04%             | 2035-10-20      | Floating      | 12.26%                | No            |                  2 | On Loan: No      |
| NFP CORP                                         | NFP Corp                                                                         | CUSIP: 65342RAE0<br>LEI: VO2L9FZNXDJNQNEYH039 | Long             | DBT              | CORP              | US        |   1027000 | PA      | $896293.71    | 0.16%             | 2028-08-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Mattel Inc                                       | Mattel Inc                                                                       | CUSIP: 577081AU6<br>LEI: 549300VELLG24KHTJ564 | Long             | DBT              | CORP              | US        |    291000 | PA      | $270193.50    | 0.05%             | 2040-10-01      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| ROLLER BEARING CO OF AME                         | Roller Bearing Co of America Inc                                                 | CUSIP: 775631AD6<br>LEI: 254900U9XW6S76H2P167 | Long             | DBT              | CORP              | US        |    155000 | PA      | $139665.85    | 0.02%             | 2029-10-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| HTA GROUP LTD                                    | HTA Group Ltd/Mauritius                                                          | CUSIP: 40435WAB6<br>LEI: 213800WEFU8O8X6EPU13 | Long             | DBT              | CORP              | MU        |    431000 | PA      | $404951.44    | 0.07%             | 2025-12-18      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Peraton Corp.                                    | Peraton Corp. Term Loan B                                                        | CUSIP: 71360HAB3<br>LEI: 549300EQPCK07ZW63836 | Long             | LON              | CORP              | US        |    968911 | PA      | $962855.17    | 0.17%             | 2028-02-01      | Floating      | 8.32%                 | No            |                  2 | On Loan: No      |
| CATALENT PHARMA SOLUTION                         | Catalent Pharma Solutions Inc                                                    | CUSIP: 14879EAH1<br>LEI: 549300HALRZ339MSTH85 | Long             | DBT              | CORP              | US        |    201000 | PA      | $166275.24    | 0.03%             | 2029-02-15      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| GLOBAL NET LEASE/GLOBAL                          | Global Net Lease Inc / Global Net Lease Operating Partnership LP                 | CUSIP: 37892AAA8<br>LEI: N/A                  | Long             | DBT              |  | US        |    183000 | PA      | $154682.08    | 0.03%             | 2027-12-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| ONEOK Inc                                        | ONEOK Inc                                                                        | CUSIP: 682680AW3<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |    365000 | PA      | $348259.37    | 0.06%             | 2029-03-15      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP UBER TECHNO                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -580222 | PA      | $-580222.50   | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| MAGNOLIA OIL GAS/MAG FIN                         | Magnolia Oil & Gas Operating LLC / Magnolia Oil & Gas Finance Corp               | CUSIP: 559665AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     41000 | PA      | $39667.50     | 0.01%             | 2026-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| JAZZ SECURITIES DAC                              | Jazz Securities DAC                                                              | CUSIP: 47216FAA5<br>LEI: 6354009DV8VV7K6KOO02 | Long             | DBT              | CORP              | IE        |    200000 | PA      | $182468.00    | 0.03%             | 2029-01-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                      | RRP FHLMC 30YR                                                                   | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |  -1613609 | PA      | $-1613608.68  | -0.28%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. INTERNATIONAL               | SWAP/CDSWAP/SCDS: (ADLERR)                                                       | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DCR              |  | XX        |      6701 | OU      | $-1295.35     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                      | RRP ORACLE CORP                                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -983645 | PA      | $-983645.00   | -0.17%            |  |  |  | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP TENET HEALT                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -327135 | PA      | $-327135.00   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                          | RRP GENERAL MOT                                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -307662 | PA      | $-307662.50   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| PERMIAN RESOURC OPTG LLC                         | Permian Resources Operating LLC                                                  | CUSIP: 15138AAC4<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |    132000 | PA      | $129345.48    | 0.02%             | 2027-04-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP CVS HEALTH                                                                   | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |  -1035075 | PA      | $-1035075.00  | -0.18%            |  |  |  | No            |                  2 | On Loan: No      |
| UNITED RENTALS NORTH AM                          | United Rentals North America Inc                                                 | CUSIP: 911365BQ6<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |   2090000 | PA      | $2121350.00   | 0.37%             | 2029-12-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                               | Energy Transfer LP                                                               | CUSIP: 29273RBL2<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    350000 | PA      | $316636.15    | 0.06%             | 2047-04-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Royal Bank of Canada                             | PURCHASED USD / SOLD GBP                                                         | CUSIP: 000000000<br>LEI: ES7IP3U3RHIGC71XBU11 | N/A              | DFE              |  | US        |         1 | NC      | $-59.86       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Freddie Mac                                      | Freddie Mac Pool                                                                 | CUSIP: 3132DNHH9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1725166 | PA      | $1675412.65   | 0.29%             | 2052-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                           | United States Treasury Note/Bond                                                 | CUSIP: 91282CFG1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  14300000 | PA      | $14042488.32  | 2.46%             | 2024-08-31      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                                | HSBC Holdings PLC                                                                | CUSIP: 404280DR7<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    350000 | PA      | $381538.96    | 0.07%             | 2028-11-03      | Fixed         | 7.39%                 | No            |                  2 | On Loan: No      |
| CBAM CLO Management LLC                          | CBAM 2017-1 Ltd                                                                  | CUSIP: 12480VAC9<br>LEI: 254900JWJFDB3KD6V066 | Long             | ABS-CBDO         | CORP              | KY        |   1225673 | PA      | $1218569.97   | 0.21%             | 2030-07-20      | Floating      | 6.06%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                     | Broadcom Inc                                                                     | CUSIP: 11135FBF7<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    282000 | PA      | $221532.94    | 0.04%             | 2033-02-15      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| GMR HYDERABAD INTERNATIO                         | GMR Hyderabad International Airport Ltd                                          | CUSIP: 000000000<br>LEI: 335800NSPGIN89SVOU83 | Long             | DBT              | CORP              | IN        |    200000 | PA      | $173850.00    | 0.03%             | 2027-10-27      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| ARAB REPUBLIC OF EGYPT                           | Egypt Government International Bond                                              | CUSIP: 03846JAC4<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |    200000 | PA      | $129500.00    | 0.02%             | 2061-02-16      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| MEXICO CITY ARPT TRUST                           | Mexico City Airport Trust                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | MX        |    308000 | PA      | $248186.40    | 0.04%             | 2047-07-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SABRE GLBL INC                                   | Sabre GLBL Inc                                                                   | CUSIP: 78573NAH5<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | DBT              | CORP              | US        |    164000 | PA      | $173840.00    | 0.03%             | 2027-12-15      | Fixed         | 11.25%                | No            |                  2 | On Loan: No      |
| MEDCO BELL PTE LTD                               | Medco Bell Pte Ltd                                                               | CUSIP: 000000000<br>LEI: 2549003PNDCWIWGKC768 | Long             | DBT              | CORP              | SG        |    250000 | PA      | $237500.00    | 0.04%             | 2027-01-30      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                           | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCN1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    318000 | PA      | $263145.00    | 0.05%             | 2032-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| SIRIUS XM RADIO INC                              | Sirius XM Radio Inc                                                              | CUSIP: 82967NBM9<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |    415000 | PA      | $342117.70    | 0.06%             | 2031-09-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP AIR CANADA                                                                   | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -345262 | PA      | $-345262.50   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| Constellium SE                                   | Constellium SE                                                                   | CUSIP: 210383AG0<br>LEI: 724500KRJEMC79KAAU28 | Long             | DBT              | CORP              | FR        |   1193000 | PA      | $1179972.44   | 0.21%             | 2026-02-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CROWNROCK LP/CROWNROCK F                         | CrownRock LP / CrownRock Finance Inc                                             | CUSIP: 228701AF5<br>LEI: WFBCP6PB6JZR80B7U482 | Long             | DBT              | CORP              | US        |   1166000 | PA      | $1136850.00   | 0.20%             | 2025-10-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD                              | NCL Corp Ltd                                                                     | CUSIP: 62886HBL4<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |    173000 | PA      | $175773.19    | 0.03%             | 2028-02-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| API GROUP DE INC                                 | APi Group DE Inc                                                                 | CUSIP: 00185PAA9<br>LEI: 549300XP4G7B4QYA0G83 | Long             | DBT              | CORP              | US        |    128000 | PA      | $114128.45    | 0.02%             | 2029-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Generate CLO Ltd.                                | Generate CLO 2 Ltd                                                               | CUSIP: 98625RAE9<br>LEI: 5493009C48K5WG4EX118 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $222458.90    | 0.04%             | 2031-01-22      | Floating      | 10.47%                | No            |                  2 | On Loan: No      |
| HSBC SECURITIES USA, INC.                        | RRP BROADCOM IN                                                                  | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | Short            | RA               | CORP              | US        |   -750070 | PA      | $-750070.00   | -0.13%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. INTERNATIONAL               | CDS: (CMBX.NA.9.BBB-)                                                            | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DCR              |  | US        |    407000 | OU      | $-71223.33    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| ASBURY AUTOMOTIVE GROUP                          | Asbury Automotive Group Inc                                                      | CUSIP: 043436AX2<br>LEI: 549300JH4DTA7U42GL91 | Long             | DBT              | CORP              | US        |    201000 | PA      | $173352.45    | 0.03%             | 2032-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Apidos CLO                                       | Apidos CLO XXVI                                                                  | CUSIP: 03766GAL6<br>LEI: 549300RV409NJP65MP20 | Long             | ABS-CBDO         | CORP              | KY        |    460000 | PA      | $456490.94    | 0.08%             | 2029-07-18      | Floating      | 5.69%                 | No            |                  2 | On Loan: No      |
| KENBOURNE INVEST SA                              | Kenbourne Invest SA                                                              | CUSIP: 48855KAA8<br>LEI: 222100QGH6Y9KFYZ4B27 | Long             | DBT              | CORP              | LU        |    205000 | PA      | $190393.75    | 0.03%             | 2024-11-26      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| JP MORGAN SECURITIES LLC                         | RRP RADIATE HOL                                                                  | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | Short            | RA               | CORP              | US        |   -198125 | PA      | $-198125.00   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES USA, INC.                        | RRP MARVELL TEC                                                                  | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | Short            | RA               | CORP              | US        |   -322691 | PA      | $-322691.25   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK SA | RRP COMSTOCK RE                                                                  | CUSIP: 000000000<br>LEI: 1VUV7VQFKUOQSJ21A208 | Short            | RA               | CORP              | US        |   -537259 | PA      | $-537258.75   | -0.09%            |  |  |  | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP FORD MOTOR                                                                   | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -172550 | PA      | $-172550.00   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                          | RRP MPLX LP 4.2                                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -216494 | PA      | $-216493.75   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                    | TransDigm Inc                                                                    | CUSIP: 893647BP1<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    715000 | PA      | $645044.40    | 0.11%             | 2029-01-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| SOPHIA, L.P.                                     | Sophia, L.P. 2021 Term Loan B                                                    | CUSIP: 83578BAN3<br>LEI: 549300RP8NIJ7FY7OS79 | Long             | LON              | CORP              | US        |    774417 | PA      | $762723.40    | 0.13%             | 2027-10-07      | Floating      | 8.23%                 | No            |                  2 | On Loan: No      |
| PREMIER ENTERTAINMENT SU                         | Premier Entertainment Sub LLC / Premier Entertainment Finance Corp               | CUSIP: 74052HAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    148000 | PA      | $106375.16    | 0.02%             | 2029-09-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| CALPINE CORP                                     | Calpine Corp                                                                     | CUSIP: 131347CN4<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |   1281000 | PA      | $1159830.94   | 0.20%             | 2028-03-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                           | US LONG BOND(CBT) MAR23                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |      -207 | NC      | $-1108295.59  | -0.19%            |  |  |  | No            |                  1 | On Loan: No      |
| GRAFTECH FINANCE INC                             | GrafTech Finance Inc                                                             | CUSIP: 384311AA4<br>LEI: 1Z010BU876CF2HDBIN43 | Long             | DBT              | CORP              | US        |    176000 | PA      | $150000.91    | 0.03%             | 2028-12-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                                | Iron Mountain Inc                                                                | CUSIP: 46284VAJ0<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              |  | US        |    183000 | PA      | $165604.02    | 0.03%             | 2030-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TALLGRASS NRG PRTNR/FIN                          | Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp                     | CUSIP: 87470LAK7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    168000 | PA      | $151200.00    | 0.03%             | 2031-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| EARTHSTONE ENERGY HOL                            | Earthstone Energy Holdings LLC                                                   | CUSIP: 27034RAA1<br>LEI: 549300HGVO86L8G72J25 | Long             | DBT              | CORP              | US        |    453000 | PA      | $441675.00    | 0.08%             | 2027-04-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| NATWEST GROUP PLC                                | NatWest Group PLC                                                                | CUSIP: 780097BQ3<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |   1185000 | PA      | $1131675.00   | 0.20%             | 2025-12-29      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                | RRP NORTHWELL H                                                                  | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Short            | RA               | CORP              | US        |   -467338 | PA      | $-467337.50   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| BWAY Holding Company                             | BWAY Holding Company 2017 Term Loan B                                            | CUSIP: 05604XAP1<br>LEI: 549300DNGHXL0OMHW304 | Long             | LON              | CORP              | US        |    385316 | PA      | $381463.10    | 0.07%             | 2024-04-03      | Floating      | 7.82%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP TRIVIUM PAC                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -878374 | PA      | $-878373.75   | -0.15%            |  |  |  | No            |                  2 | On Loan: No      |
| FORTUNE STAR BVI LTD                             | Fortune Star BVI Ltd                                                             | CUSIP: 000000000<br>LEI: 2549008CU8NYQQRSNU62 | Long             | DBT              | CORP              | VG        |    200000 | PA      | $194500.00    | 0.03%             | 2023-07-02      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Bank of America N.A.                             | PURCHASED USD / SOLD GBP                                                         | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              |  | US        |         1 | NC      | $644.56       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CRESTWOOD MID PARTNER LP                         | Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp               | CUSIP: 226373AT5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    126000 | PA      | $126787.50    | 0.02%             | 2031-02-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| COUNTRY GARDEN HLDGS                             | Country Garden Holdings Co Ltd                                                   | CUSIP: 000000000<br>LEI: 549300MGHLPT1EFHGF84 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $166162.50    | 0.03%             | 2024-04-08      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ENLINK MIDSTREAM PARTNER                         | EnLink Midstream Partners LP                                                     | CUSIP: 29336UAG2<br>LEI: 88CPW63VL7KHJWS0NY83 | Long             | DBT              | CORP              | US        |     78000 | PA      | $64883.57     | 0.01%             | 2047-06-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| POSCO                                            | POSCO                                                                            | CUSIP: 73730EAC7<br>LEI: 9884000N94NH7G6LQ816 | Long             | DBT              | CORP              | KR        |    200000 | PA      | $202370.00    | 0.04%             | 2026-01-17      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                             | OneMain Finance Corp                                                             | CUSIP: 85172FAQ2<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    285000 | PA      | $277666.95    | 0.05%             | 2028-01-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Equate Petrochemical BV                          | Equate Petrochemical BV                                                          | CUSIP: 000000000<br>LEI: 635400Y3Z5R4NJSMQ630 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $195220.00    | 0.03%             | 2026-11-03      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP FRONTIER CO                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -244241 | PA      | $-244241.25   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| KANE BIDCO LTD                                   | Kane Bidco Ltd                                                                   | CUSIP: 000000000<br>LEI: 213800IT8MD1MLYZWC24 | Long             | DBT              | CORP              | JE        |    100000 | PA      | $107309.19    | 0.02%             | 2027-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                      | RRP FNMA 30YR U                                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |    -21134 | PA      | $-21134.35    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES USA, INC.                        | RRP BROADCOM IN                                                                  | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | Short            | RA               | CORP              | US        |   -168236 | PA      | $-168236.25   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| Regatta Funding                                  | Regatta XI Funding Ltd                                                           | CUSIP: 75887XAA5<br>LEI: 254900TUAAER6MTE4E64 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $247837.98    | 0.04%             | 2031-07-17      | Floating      | 5.86%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                    | TransDigm Inc                                                                    | CUSIP: 893647BH9<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    134000 | PA      | $135043.19    | 0.02%             | 2027-03-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                      | SWP: USD 1.919500 27-OCT-2051                                                    | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |   1420000 | OU      | $-354207.41   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| UKRAINE GOVERNMENT                               | Ukraine Government International Bond                                            | CUSIP: 000000000<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |    224000 | PA      | $50442.00     | 0.01%             | 2026-02-01      | Fixed         | 8.99%                 | No            |                  2 | On Loan: No      |
| CLYDESDALE ACQUISITION                           | Clydesdale Acquisition Holdings Inc                                              | CUSIP: 18972EAB1<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |    523000 | PA      | $462218.25    | 0.08%             | 2030-04-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| SPRINT LLC                                       | Sprint LLC                                                                       | CUSIP: 85207UAK1<br>LEI: 549300ZTTY7CXOLJ6539 | Long             | DBT              | CORP              | US        |    748000 | PA      | $791134.55    | 0.14%             | 2026-03-01      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| GARFUNKELUX HOLDCO 3 SA                          | Garfunkelux Holdco 3 SA                                                          | CUSIP: 000000000<br>LEI: 2221007QVSNJV7EWBX69 | Long             | DBT              | CORP              | LU        |    100000 | PA      | $93388.35     | 0.02%             | 2025-11-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                         | Hilcorp Energy I LP / Hilcorp Finance Co                                         | CUSIP: 431318AU8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    283000 | PA      | $263190.00    | 0.05%             | 2029-02-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                | CDS: (CMBX.NA.7.BBB-)                                                            | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              |  | US        |  10000000 | OU      | $-1881666.67  | -0.33%            |  |  |  | No            |                  2 | On Loan: No      |
| GREENKO MAURITIUS LTD                            | Greenko Mauritius Ltd                                                            | CUSIP: 000000000<br>LEI: 2138005EDWGI4914B264 | Long             | DBT              | CORP              | MU        |    200000 | PA      | $199400.00    | 0.03%             | 2023-02-21      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| VMED O2 UK FINAN                                 | Vmed O2 UK Financing I PLC                                                       | CUSIP: 000000000<br>LEI: 213800MRR46ECNGZ7L69 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $101710.09    | 0.02%             | 2029-01-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Meritage Homes Corp                              | Meritage Homes Corp                                                              | CUSIP: 59001ABA9<br>LEI: 52990044W9UMFJO2FB97 | Long             | DBT              | CORP              | US        |     57000 | PA      | $54577.50     | 0.01%             | 2027-06-06      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Sprint Capital Corp                              | Sprint Capital Corp                                                              | CUSIP: 852060AT9<br>LEI: 549300L17W0GQBR1PO80 | Long             | DBT              | CORP              | US        |   1090000 | PA      | $1346150.00   | 0.24%             | 2032-03-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| DT MIDSTREAM INC                                 | DT Midstream Inc                                                                 | CUSIP: 23345MAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    489000 | PA      | $429097.50    | 0.08%             | 2029-06-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD                              | NCL Corp Ltd                                                                     | CUSIP: 62886HBA8<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |    301000 | PA      | $260358.98    | 0.05%             | 2026-03-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| UNITI GROUP/CSL CAPITAL                          | Uniti Group LP / Uniti Group Finance Inc / CSL Capital LLC                       | CUSIP: 91327BAB6<br>LEI: N/A                  | Long             | DBT              |  | US        |     49000 | PA      | $40067.92     | 0.01%             | 2028-04-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| VANTAGE TOWERS AG                                | Vantage Towers AG                                                                | CUSIP: 000000000<br>LEI: 213800BBQO965UPQ7J59 | Long             | DBT              | CORP              | DE        |    100000 | PA      | $101608.11    | 0.02%             | 2027-03-31      | Fixed         | 0.38%                 | No            |                  2 | On Loan: No      |
| EnLink Midstream LLC                             | EnLink Midstream LLC                                                             | CUSIP: 29336TAA8<br>LEI: 54930000GY1H533OBE23 | Long             | DBT              | CORP              | US        |    428000 | PA      | $412508.54    | 0.07%             | 2029-06-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                          | RRP FEDEX CORP                                                                   | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -429375 | PA      | $-429375.00   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| CHONG HING BANK LTD                              | Chong Hing Bank Ltd                                                              | CUSIP: 000000000<br>LEI: 549300UE27D3HDTZET39 | Long             | DBT              | CORP              | HK        |    250000 | PA      | $244500.00    | 0.04%             | 2024-07-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| NOMURA SECURITIES INTERNATIONAL INC              | RRP WHITE CAP B                                                                  | CUSIP: 000000000<br>LEI: OXTKY6Q8X53C9ILVV871 | Short            | RA               | CORP              | US        |   -278438 | PA      | $-278437.50   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE BANK                             | SWAP/CDSWAP/SCDS: (LADLN)                                                        | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DCR              |  | XX        |     10000 | OU      | $-513.95      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Credit-Based Asset Servicing and Securitization  | C-BASS 2006-CB7 TRUST                                                            | CUSIP: 12479DAD0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4251509 | PA      | $2818732.01   | 0.49%             | 2036-10-25      | Floating      | 4.83%                 | No            |                  2 | On Loan: No      |
| TAYLOR MORRISON COMM                             | Taylor Morrison Communities Inc                                                  | CUSIP: 87724RAA0<br>LEI: 549300O1Z08HI2MRK572 | Long             | DBT              | CORP              | US        |    287000 | PA      | $282106.65    | 0.05%             | 2027-06-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                       | Fannie Mae Pool                                                                  | CUSIP: 3140QBG93<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3861173 | PA      | $3832149.94   | 0.67%             | 2049-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| AETHON UN/AETHIN UN FIN                          | Aethon United BR LP / Aethon United Finance Corp                                 | CUSIP: 00810GAC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1057000 | PA      | $1051715.00   | 0.18%             | 2026-02-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                      | RRP FNMA 30YR F                                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |    -27406 | PA      | $-27405.59    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MGM RESORTS INTL                                 | MGM Resorts International                                                        | CUSIP: 552953CE9<br>LEI: 54930066VBP7DZEGGJ87 | Long             | DBT              | CORP              | US        |     35000 | PA      | $34558.07     | 0.01%             | 2025-06-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ADVANCED DRAINAGE SYSTEM                         | Advanced Drainage Systems Inc                                                    | CUSIP: 00790RAB0<br>LEI: 6QQTOZ5MF5DHM7K92I60 | Long             | DBT              | CORP              | US        |    636000 | PA      | $631921.33    | 0.11%             | 2030-06-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| GRUENENTHAL GMBH                                 | Gruenenthal GmbH                                                                 | CUSIP: 000000000<br>LEI: 529900SH895E31PGLA72 | Long             | DBT              | CORP              | DE        |    100000 | PA      | $98804.57     | 0.02%             | 2028-05-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Spirit Aerosystems, Inc.                         | Spirit Aerosystems, Inc. 2021 Term Loan B                                        | CUSIP: 84857HAX8<br>LEI: ZD2NBKV6GCC3UMGBM518 | Long             | LON              | CORP              | US        |         0 | PA      | $0.06         | 0.00%             | 2025-01-15      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| LCM Ltd Partnership                              | LCM XXI LP                                                                       | CUSIP: 50189CAN1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     85494 | PA      | $85161.23     | 0.01%             | 2028-04-20      | Floating      | 5.69%                 | No            |                  2 | On Loan: No      |
| BIG RIVER STEEL/BRS FIN                          | Big River Steel LLC / BRS Finance Corp                                           | CUSIP: 08949LAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1573000 | PA      | $1542781.74   | 0.27%             | 2029-01-31      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                          | RRP ANHEUSER BU                                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |  -2041200 | PA      | $-2041200.00  | -0.36%            |  |  |  | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                      | RRP EIG PEARL H                                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -339182 | PA      | $-339182.50   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                      | RRP UBER TECHNO                                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |  -1196939 | PA      | $-1196938.75  | -0.21%            |  |  |  | No            |                  2 | On Loan: No      |
| ASCENT RESOURCES/ARU FIN                         | Ascent Resources Utica Holdings LLC / ARU Finance Corp                           | CUSIP: 04364VAU7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    131000 | PA      | $115312.75    | 0.02%             | 2029-06-30      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| SHERWIN-WILLIAMS CO                              | Sherwin-Williams Co/The                                                          | CUSIP: 824348AX4<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | DBT              | CORP              | US        |    310000 | PA      | $279573.26    | 0.05%             | 2047-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CHAMPION PATH HOLDINGS                           | Champion Path Holdings Ltd                                                       | CUSIP: 000000000<br>LEI: 549300QWJFPV5413KI88 | Long             | DBT              | CORP              | VG        |    250000 | PA      | $225625.00    | 0.04%             | 2026-01-27      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| DISH DBS CORP                                    | DISH DBS Corp                                                                    | CUSIP: 25470XBF1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    798000 | PA      | $652909.83    | 0.11%             | 2028-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ILLUMINATE BUYER/HLDG                            | Illuminate Buyer LLC / Illuminate Holdings IV Inc                                | CUSIP: 45232TAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    443000 | PA      | $395838.22    | 0.07%             | 2028-07-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                 | CIFC Funding 2014-V Ltd                                                          | CUSIP: 12550AAT3<br>LEI: 549300Y56VCWZJQV2Z14 | Long             | ABS-CBDO         | CORP              | KY        |    550000 | PA      | $545380.00    | 0.10%             | 2031-10-17      | Floating      | 5.99%                 | No            |                  2 | On Loan: No      |
| PERMIAN RESOURC OPTG LLC                         | Permian Resources Operating LLC                                                  | CUSIP: 19416MAA7<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |    584000 | PA      | $583649.60    | 0.10%             | 2026-02-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| I-Logic Technologies Bidco Limited               | I-Logic Technologies Bidco Limited 2021 USD Term Loan B                          | CUSIP: 00510DAB0<br>LEI: 213800PHEXJH1L7ZN896 | Long             | LON              | CORP              | US        |    124583 | PA      | $122621.14    | 0.02%             | 2028-02-16      | Variable      | 8.73%                 | No            |                  2 | On Loan: No      |
| Argent Securities Inc.                           | Argent Securities Trust 2006-W5                                                  | CUSIP: 04012XAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4235682 | PA      | $2815094.63   | 0.49%             | 2036-06-25      | Floating      | 4.81%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                      | RRP KRAFT HEINZ                                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -195134 | PA      | $-195133.75   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| Grupo Bimbo SAB de CV                            | Grupo Bimbo SAB de CV                                                            | CUSIP: 000000000<br>LEI: 5493000RIXURZEBFEV60 | Long             | DBT              | CORP              | MX        |    352000 | PA      | $350178.40    | 0.06%             | 2023-04-17      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Atrium CDO Corp                                  | Atrium XIII                                                                      | CUSIP: 04966HAC0<br>LEI: 549300BF3YFW8EHN6F75 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $242904.98    | 0.04%             | 2030-11-21      | Floating      | 6.07%                 | No            |                  2 | On Loan: No      |
| ATI INC                                          | ATI Inc                                                                          | CUSIP: 01741RAM4<br>LEI: ZW1LRE7C3H17O2ZN9B45 | Long             | DBT              | CORP              | US        |    350000 | PA      | $318062.50    | 0.06%             | 2031-10-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| KLEOPATRA FINCO SARL                             | Kleopatra Finco Sarl                                                             | CUSIP: 000000000<br>LEI: 222100M6T1N8VIC8M726 | Long             | DBT              | CORP              | LU        |    100000 | PA      | $90943.39     | 0.02%             | 2026-03-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                          | RRP VIACOM INC                                                                   | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -546638 | PA      | $-546637.50   | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| Duke Energy Corp                                 | Duke Energy Corp                                                                 | CUSIP: 26441CAP0<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1411768.76   | 0.25%             | 2045-12-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                         | Occidental Petroleum Corp                                                        | CUSIP: 674599DJ1<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    801000 | PA      | $809378.21    | 0.14%             | 2040-03-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| MEDLINE BORROWER LP                              | Medline Borrower LP                                                              | CUSIP: 62482BAA0<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |    623000 | PA      | $532674.35    | 0.09%             | 2029-04-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| WABASH NATIONAL CORP                             | Wabash National Corp                                                             | CUSIP: 929566AL1<br>LEI: 5299004ZAWHQZI5XO485 | Long             | DBT              | CORP              | US        |    281000 | PA      | $246566.02    | 0.04%             | 2028-10-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| TEMPUR SEALY INTL INC                            | Tempur Sealy International Inc                                                   | CUSIP: 88023UAJ0<br>LEI: 549300HFEKVR3US71V91 | Long             | DBT              | CORP              | US        |    193000 | PA      | $159014.63    | 0.03%             | 2031-10-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Octagon Investment Partners 31 LTD               | Octagon Investment Partners 31 Ltd                                               | CUSIP: 67576CAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $435367.60    | 0.08%             | 2030-07-20      | Floating      | 11.11%                | No            |                  2 | On Loan: No      |
| AMGEN INC                                        | Amgen Inc                                                                        | CUSIP: 031162DA5<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |    250000 | PA      | $184133.81    | 0.03%             | 2041-08-15      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| TD SECURITIES USA LLC                            | RRP OWL ROCK CO                                                                  | CUSIP: 000000000<br>LEI: SUVUFHICNZMP2WKHG940 | Short            | RA               | CORP              | US        |   -383644 | PA      | $-383643.75   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                      | RRP FHLMC 30YR                                                                   | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |    -22404 | PA      | $-22404.23    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Countrywide Alternative Loan Trust               | Alternative Loan Trust 2006-OA14                                                 | CUSIP: 02146SAG4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4372577 | PA      | $3650902.00   | 0.64%             | 2046-11-25      | Floating      | 3.28%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                      | RRP SPRINGLEAF                                                                   | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -340375 | PA      | $-340375.00   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| CDI ESCROW ISSUER INC                            | CDI Escrow Issuer Inc                                                            | CUSIP: 12511VAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    596000 | PA      | $564710.00    | 0.10%             | 2030-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| NuStar Logistics LP                              | NuStar Logistics LP                                                              | CUSIP: 67059TAF2<br>LEI: N62BF2PKP51FIIOIUN20 | Long             | DBT              | CORP              | US        |    234000 | PA      | $229160.88    | 0.04%             | 2026-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| COMISION FEDERAL DE ELEC                         | Comision Federal de Electricidad                                                 | CUSIP: 000000000<br>LEI: 4469000001BFPONMPF32 | Long             | DBT              | CORP              | MX        |    323000 | PA      | $320436.19    | 0.06%             | 2024-01-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| MSCI INC                                         | MSCI Inc                                                                         | CUSIP: 55354GAK6<br>LEI: 549300HTIN2PD78UB763 | Long             | DBT              | CORP              | US        |    117000 | PA      | $101838.62    | 0.02%             | 2030-09-01      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                    | Carnival Corp                                                                    | CUSIP: 143658BR2<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    610000 | PA      | $481900.00    | 0.08%             | 2029-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| EQM MIDSTREAM PARTNERS L                         | EQM Midstream Partners LP                                                        | CUSIP: 26885BAN0<br>LEI: 549300NELT611CL6XM83 | Long             | DBT              | CORP              | US        |    108000 | PA      | $107865.00    | 0.02%             | 2030-06-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Reynolds American Inc                            | Reynolds American Inc                                                            | CUSIP: 761713BB1<br>LEI: 02S2RPPVO9RP4NEU2740 | Long             | DBT              | CORP              | US        |    715000 | PA      | $653338.77    | 0.11%             | 2045-08-15      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP TRANSDIGM I                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -238000 | PA      | $-238000.00   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| GARDA WORLD SECURITY                             | Garda World Security Corp                                                        | CUSIP: 36485MAM1<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | DBT              | CORP              | CA        |    440000 | PA      | $446050.00    | 0.08%             | 2028-02-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| METINVEST BV                                     | Metinvest BV                                                                     | CUSIP: 000000000<br>LEI: 635400TMCKVEU87EJ582 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $105000.00    | 0.02%             | 2027-10-01      | Fixed         | 7.65%                 | No            |                  2 | On Loan: No      |
| GILBERT PARK CLO LTD                             | Gilbert Park CLO Ltd                                                             | CUSIP: 375415AA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $492290.00    | 0.09%             | 2030-10-15      | Floating      | 5.98%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos                              | Petroleos Mexicanos                                                              | CUSIP: 71654QCG5<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    359000 | PA      | $338276.73    | 0.06%             | 2027-03-13      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                              | Petroleos Mexicanos                                                              | CUSIP: 71643VAB1<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    220000 | PA      | $182050.00    | 0.03%             | 2032-02-16      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP DISH DBS CO                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -902239 | PA      | $-902238.75   | -0.16%            |  |  |  | No            |                  2 | On Loan: No      |
| NABORS INDUSTRIES LTD                            | Nabors Industries Ltd                                                            | CUSIP: 629571AA8<br>LEI: 5493008TXYN3II3PU369 | Long             | DBT              | CORP              | BM        |    273000 | PA      | $265492.50    | 0.05%             | 2026-01-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Ascent Resources - Utica                         | Ascent Resources - Utica 2020 Fixed 2nd Lien Term Loan                           | CUSIP: 000000000<br>LEI: 549300EGLQ2M2CL7JZ89 | Long             | LON              | CORP              | US        |   2933742 | PA      | $3109766.24   | 0.54%             | 2025-11-01      | Floating      | 13.82%                | No            |                  2 | On Loan: No      |
| BANK LEUMI LE-ISRAEL                             | Bank Leumi Le-Israel BM                                                          | CUSIP: 000000000<br>LEI: 7JDSZWRGUQY2DSTWCR57 | Long             | DBT              | CORP              | IL        |    200000 | PA      | $205500.00    | 0.04%             | 2033-07-18      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| REALOGY GROUP/CO-ISSUER                          | Realogy Group LLC / Realogy Co-Issuer Corp                                       | CUSIP: 75606DAL5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    375000 | PA      | $291577.50    | 0.05%             | 2029-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| VIASAT INC                                       | Viasat Inc                                                                       | CUSIP: 92552VAN0<br>LEI: UFC8NYMNFSYIHNSM2I38 | Long             | DBT              | CORP              | US        |    302000 | PA      | $242361.04    | 0.04%             | 2028-07-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ENLINK MIDSTREAM LLC                             | EnLink Midstream LLC                                                             | CUSIP: 29336TAC4<br>LEI: 54930000GY1H533OBE23 | Long             | DBT              | CORP              | US        |    450000 | PA      | $439875.00    | 0.08%             | 2028-01-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| BX Trust                                         | BX Commercial Mortgage Trust 2021-CIP                                            | CUSIP: 12434FAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    600000 | PA      | $587423.28    | 0.10%             | 2038-12-15      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| PRIME SECSRVC BRW/FINANC                         | Prime Security Services Borrower LLC / Prime Finance Inc                         | CUSIP: 74166MAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    178000 | PA      | $176164.41    | 0.03%             | 2024-04-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| VERISURE HOLDING AB                              | Verisure Holding AB                                                              | CUSIP: 000000000<br>LEI: 549300VQQCWGISM3N408 | Long             | DBT              | CORP              | SE        |    100000 | PA      | $116331.61    | 0.02%             | 2027-10-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| Republic of South Africa                         | Republic of South Africa Government International Bond                           | CUSIP: 836205AV6<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    501000 | PA      | $364477.50    | 0.06%             | 2046-10-12      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AVANTOR FUNDING INC                              | Avantor Funding Inc                                                              | CUSIP: 05352TAB5<br>LEI: 5493003VM0XB4U8YD238 | Long             | DBT              | CORP              | US        |    219000 | PA      | $192514.09    | 0.03%             | 2029-11-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                         | Charter Communications Operating LLC / Charter Communications Operating Capital  | CUSIP: 161175CJ1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    984000 | PA      | $883959.22    | 0.15%             | 2033-04-01      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Gulf Stream Meridian 1 Ltd.                      | Gulf Stream Meridian 1 Ltd                                                       | CUSIP: 402564AA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $438913.60    | 0.08%             | 2033-04-15      | Floating      | 11.24%                | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                      | RRP BLOCK INC 3                                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |  -1673280 | PA      | $-1673280.00  | -0.29%            |  |  |  | No            |                  2 | On Loan: No      |
| PETSMART INC/PETSMART FI                         | PetSmart Inc / PetSmart Finance Corp                                             | CUSIP: 71677KAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    436000 | PA      | $403292.74    | 0.07%             | 2028-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Navient Corp                                     | Navient Corp                                                                     | CUSIP: 63938CAB4<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |     76000 | PA      | $75167.04     | 0.01%             | 2024-10-25      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. INTERNATIONAL               | SWAP/CDSWAP/CDS: (CMBX.NA.15.BBB-)                                               | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DCR              |  | US        |   2972000 | OU      | $-521887.10   | -0.09%            |  |  |  | No            |                  2 | On Loan: No      |
| INDIA CLEANTECH ENERGY                           | India Cleantech Energy                                                           | CUSIP: 45410BAA2<br>LEI: 254900DGTS4HHR3Q6F66 | Long             | DBT              | CORP              | MU        |    236750 | PA      | $209523.75    | 0.04%             | 2026-08-10      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                         | Ford Motor Credit Co LLC                                                         | CUSIP: 345397B77<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    376000 | PA      | $335580.00    | 0.06%             | 2026-08-10      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| SENSATA TECHNOLOGIES BV                          | Sensata Technologies BV                                                          | CUSIP: 81725WAL7<br>LEI: PUCKW5P5O3XMOZVH7T53 | Long             | DBT              | CORP              | NL        |    309000 | PA      | $303206.25    | 0.05%             | 2030-09-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| IHEARTCOMMUNICATIONS INC                         | iHeartCommunications Inc                                                         | CUSIP: 45174HBE6<br>LEI: 54930076J6KDZL504O62 | Long             | DBT              | CORP              | US        |    213000 | PA      | $190769.19    | 0.03%             | 2027-08-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PUG LLC                                          | PUG LLC USD Term Loan                                                            | CUSIP: 74530DAC9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    120196 | PA      | $100664.27    | 0.02%             | 2027-02-12      | Floating      | 8.07%                 | No            |                  2 | On Loan: No      |
| CANTOR FITZGERALD & CO                           | RRP FNMA 30YR U                                                                  | CUSIP: 000000000<br>LEI: 5493004J7H4GCPG6OB62 | Short            | RA               | CORP              | US        |  -2152696 | PA      | $-2152695.51  | -0.38%            |  |  |  | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO                         | Clear Channel Outdoor Holdings Inc                                               | CUSIP: 18453HAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1975000 | PA      | $1791255.80   | 0.31%             | 2027-08-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| ENERGIAS DE PORTUGAL SA                          | EDP - Energias de Portugal SA                                                    | CUSIP: 000000000<br>LEI: 529900CLC3WDMGI9VH80 | Long             | DBT              | CORP              | PT        |    100000 | PA      | $108513.91    | 0.02%             | 2083-04-23      | Fixed         | 5.94%                 | No            |                  2 | On Loan: No      |
| IQVIA Inc                                        | IQVIA Inc                                                                        | CUSIP: 46266TAA6<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |    517000 | PA      | $501701.87    | 0.09%             | 2027-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE BANK                             | SWAP/CDSWAP/SCDS: (COFP)                                                         | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DCR              |  | XX        |     20000 | OU      | $-550.03      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| JP MORGAN SECURITIES LLC                         | RRP SOTHEBYS 7.                                                                  | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | Short            | RA               | CORP              | US        |   -930598 | PA      | $-930597.50   | -0.16%            |  |  |  | No            |                  2 | On Loan: No      |
| Epicor Software Corporation                      | Epicor Software Corporation 2020 2nd Lien Term Loan                              | CUSIP: 29426NAQ7<br>LEI: JGNXVGGGXR4O1L5I7S73 | Long             | LON              | CORP              | US        |    117000 | PA      | $116536.68    | 0.02%             | 2028-07-31      | Floating      | 12.32%                | No            |                  2 | On Loan: No      |
| ARCONIC CORP                                     | Arconic Corp                                                                     | CUSIP: 03966VAA5<br>LEI: 549300B4YFWH3U74B152 | Long             | DBT              | CORP              | US        |    488000 | PA      | $468867.25    | 0.08%             | 2028-02-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| DUN & BRADSTREET CORP                            | Dun & Bradstreet Corp/The                                                        | CUSIP: 26483EAL4<br>LEI: RI37BMPWE56BCJ747E14 | Long             | DBT              | CORP              | US        |    642000 | PA      | $568491.52    | 0.10%             | 2029-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SUMMER BC HOLDCO B SARL                          | Summer BC Holdco B SARL                                                          | CUSIP: 000000000<br>LEI: 984500NRF59D5DB9B654 | Long             | DBT              | CORP              | LU        |    100000 | PA      | $97979.42     | 0.02%             | 2026-10-31      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                     | Broadcom Inc                                                                     | CUSIP: 11135FBL4<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |     12000 | PA      | $9949.53      | 0.00%             | 2034-04-15      | Fixed         | 3.47%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP CSC HOLDING                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -447056 | PA      | $-447056.25   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| WILLIAMS COMPANIES INC                           | Williams Cos Inc/The                                                             | CUSIP: 96950FAL8<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |   1750000 | PA      | $1743921.94   | 0.31%             | 2023-11-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FAIR ISAAC CORP                                  | Fair Isaac Corp                                                                  | CUSIP: 303250AF1<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | DBT              | CORP              | US        |    459000 | PA      | $426183.80    | 0.07%             | 2028-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP MATTAMY GRO                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -165444 | PA      | $-165443.75   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                           | US 10YR ULTRA FUT MAR23                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |      -271 | NC      | $-636443.23   | -0.11%            |  |  |  | No            |                  1 | On Loan: No      |
| Northwell Healthcare Inc                         | Northwell Healthcare Inc                                                         | CUSIP: 667274AC8<br>LEI: 54930073NUTKK4QD3P47 | Long             | DBT              | CORP              | US        |    686000 | PA      | $587850.12    | 0.10%             | 2047-11-01      | Fixed         | 4.26%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                                | Iron Mountain Inc                                                                | CUSIP: 46284VAL5<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              |  | US        |    166000 | PA      | $149389.16    | 0.03%             | 2032-07-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| NOMURA SECURITIES INTERNATIONAL INC              | RRP COMMSCOPE T                                                                  | CUSIP: 000000000<br>LEI: OXTKY6Q8X53C9ILVV871 | Short            | RA               | CORP              | US        |   -574762 | PA      | $-574762.50   | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| Neuberger Berman CLO Ltd                         | Neuberger Berman CLO XX Ltd                                                      | CUSIP: 64130UAN2<br>LEI: 549300NPF57YF6WBDP72 | Long             | ABS-CBDO         | CORP              | KY        |    710000 | PA      | $657881.88    | 0.12%             | 2034-07-15      | Floating      | 11.29%                | No            |                  2 | On Loan: No      |
| MCAFEE CORP                                      | McAfee Corp                                                                      | CUSIP: 579063AB4<br>LEI: 2549009UKR8UEZYVCR93 | Long             | DBT              | CORP              | US        |   1084000 | PA      | $900367.47    | 0.16%             | 2030-02-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| SCOTTS MIRACLE-GRO CO                            | Scotts Miracle-Gro Co/The                                                        | CUSIP: 810186AX4<br>LEI: 2TH9E0JTOUXOEGI2R879 | Long             | DBT              | CORP              | US        |    220000 | PA      | $178200.00    | 0.03%             | 2031-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CAESARS ENTERTAIN INC                            | Caesars Entertainment Inc                                                        | CUSIP: 12769GAA8<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |    803000 | PA      | $686565.00    | 0.12%             | 2029-10-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP MPT OPERATI                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |  -1073966 | PA      | $-1073966.25  | -0.19%            |  |  |  | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP NFP CORP 4                                                                   | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -680308 | PA      | $-680307.50   | -0.12%            |  |  |  | No            |                  2 | On Loan: No      |
| DEUTSCHE LUFTHANSA AG                            | Deutsche Lufthansa AG                                                            | CUSIP: 000000000<br>LEI: 529900PH63HYJ86ASW55 | Long             | DBT              | CORP              | DE        |    100000 | PA      | $98500.60     | 0.02%             | 2028-02-11      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP KINETIK HOL                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -510480 | PA      | $-510480.00   | -0.09%            |  |  |  | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                          | RRP SHERWIN WIL                                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -263112 | PA      | $-263112.50   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| SWF ESCROW ISSUER CORP                           | SWF Escrow Issuer Corp                                                           | CUSIP: 78500AAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    422000 | PA      | $277431.24    | 0.05%             | 2029-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Yum! Brands Inc                                  | Yum! Brands Inc                                                                  | CUSIP: 988498AJ0<br>LEI: 549300JE8XHZZ7OHN517 | Long             | DBT              | CORP              | US        |    110000 | PA      | $108920.90    | 0.02%             | 2023-11-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES USA, INC.                        | RRP ENERGY TRAN                                                                  | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | Short            | RA               | CORP              | US        |   -927081 | PA      | $-927081.25   | -0.16%            |  |  |  | No            |                  2 | On Loan: No      |
| KAISER ALUMINUM CORP                             | Kaiser Aluminum Corp                                                             | CUSIP: 483007AL4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    770000 | PA      | $651119.70    | 0.11%             | 2031-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| NCR CORP                                         | NCR Corp                                                                         | CUSIP: 62886EAU2<br>LEI: 549300YKTY8JX1DV2R67 | Long             | DBT              | CORP              | US        |    259000 | PA      | $251323.34    | 0.04%             | 2027-09-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| AZUL INVESTMENTS LLP                             | Azul Investments LLP                                                             | CUSIP: 05502FAC2<br>LEI: 549300C6XNC8IDH04C74 | Long             | DBT              | CORP              | US        |    230000 | PA      | $138618.13    | 0.02%             | 2026-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| ITT HOLDINGS LLC                                 | ITT Holdings LLC                                                                 | CUSIP: 45074JAA2<br>LEI: 549300TH2PHOLK31LB42 | Long             | DBT              | CORP              | US        |    437000 | PA      | $379643.75    | 0.07%             | 2029-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Advisor Group, Inc.                              | Advisor Group, Inc. 2021 Term Loan                                               | CUSIP: 00775KAE8<br>LEI: 549300XL60BDV6UW5C86 | Long             | LON              | CORP              | US        |    153262 | PA      | $151991.45    | 0.03%             | 2026-07-31      | Floating      | 9.07%                 | No            |                  2 | On Loan: No      |
| ROMANIA                                          | Romanian Government International Bond                                           | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |    365000 | PA      | $338602.82    | 0.06%             | 2029-03-11      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP ARD FINANCE                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -257950 | PA      | $-257950.00   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| Neuberger Berman CLO Ltd                         | Neuberger Berman Loan Advisers CLO 46 Ltd                                        | CUSIP: 64134QAC1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $244567.78    | 0.04%             | 2036-01-20      | Floating      | 6.46%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                       | Fannie Mae Pool                                                                  | CUSIP: 3140FXCQ3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2240129 | PA      | $2207649.30   | 0.39%             | 2056-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                         | Occidental Petroleum Corp                                                        | CUSIP: 674599DD4<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    193000 | PA      | $214712.50    | 0.04%             | 2031-05-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Helios Software Holdings, Inc.                   | Helios Software Holdings, Inc. 2021 USD Term Loan B                              | CUSIP: 42328DAF5<br>LEI: 2138002XO5EAYFHPPT53 | Long             | LON              | CORP              | US        |     90056 | PA      | $88784.89     | 0.02%             | 2028-03-11      | Variable      | 8.48%                 | No            |                  2 | On Loan: No      |
| ZF FINANCE GMBH                                  | ZF Finance GmbH                                                                  | CUSIP: 000000000<br>LEI: 5493001N9T6QDCCXB426 | Long             | DBT              | CORP              | DE        |    100000 | PA      | $103037.72    | 0.02%             | 2025-09-21      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ASCENT RESOURCES/ARU FIN                         | Ascent Resources Utica Holdings LLC / ARU Finance Corp                           | CUSIP: 04364VAK9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1172000 | PA      | $1444490.00   | 0.25%             | 2027-11-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                      | RRP UBS GROUP A                                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |  -1277500 | PA      | $-1277500.00  | -0.22%            |  |  |  | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                          | RRP FORD MOTOR                                                                   | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -956250 | PA      | $-956250.00   | -0.17%            |  |  |  | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                    | Carnival Corp                                                                    | CUSIP: 143658BQ4<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    600000 | PA      | $518388.00    | 0.09%             | 2028-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| AROUNDTOWN SA                                    | Aroundtown SA                                                                    | CUSIP: 000000000<br>LEI: 529900H4DWG3KWMBMQ39 | Long             | DBT              | CORP              | LU        |    100000 | PA      | $52920.30     | 0.01%             | 2024-09-23      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| TEVA PHARM FNC NL II                             | Teva Pharmaceutical Finance Netherlands II BV                                    | CUSIP: 000000000<br>LEI: 549300HSQCIKJAOYIT23 | Long             | DBT              | CORP              | NL        |    100000 | PA      | $109380.91    | 0.02%             | 2025-01-31      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| PENSKE AUTOMOTIVE GROUP                          | Penske Automotive Group Inc                                                      | CUSIP: 70959WAJ2<br>LEI: 549300W7UTQ0M4C7LB15 | Long             | DBT              | CORP              | US        |    104000 | PA      | $98493.20     | 0.02%             | 2025-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Oracle Corp                                      | Oracle Corp                                                                      | CUSIP: 68389XBX2<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    250000 | PA      | $183714.29    | 0.03%             | 2050-04-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| DIRECTV FIN LLC/COINC                            | Directv Financing LLC / Directv Financing Co-Obligor Inc                         | CUSIP: 25461LAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    589000 | PA      | $533519.15    | 0.09%             | 2027-08-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| VALLOUREC SA                                     | Vallourec SA                                                                     | CUSIP: 000000000<br>LEI: 969500P2Q1B47H4MCJ34 | Long             | DBT              | CORP              | FR        |     32000 | PA      | $35046.80     | 0.01%             | 2026-06-30      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| COMMSCOPE TECH LLC                               | CommScope Technologies LLC                                                       | CUSIP: 20337YAA5<br>LEI: M4TWC4QDOKW45N7T6Y12 | Long             | DBT              | CORP              | US        |    655000 | PA      | $620304.65    | 0.11%             | 2025-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ARABIAN CENTRES SUKUK II                         | Arabian Centres Sukuk II Ltd                                                     | CUSIP: 03847QAA1<br>LEI: 549300X92PKHJD8UYG94 | Long             | DBT              | CORP              | KY        |    325000 | PA      | $308100.00    | 0.05%             | 2026-10-07      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| LOXAM SAS                                        | Loxam SAS                                                                        | CUSIP: 000000000<br>LEI: 969500BNA2YRNE1R5K91 | Long             | DBT              | CORP              | FR        |    101000 | PA      | $103896.36    | 0.02%             | 2027-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CORP FINANCIERA DE DESAR                         | Corp Financiera de Desarrollo SA                                                 | CUSIP: 000000000<br>LEI: 254900BOM7T4MG6T0J30 | Long             | DBT              | NUSS              | PE        |    379000 | PA      | $367345.75    | 0.06%             | 2025-07-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Carrington Mortgage Loan Trust                   | Carrington Mortgage Loan Trust Series 2006-FRE2                                  | CUSIP: 14454AAE9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6172408 | PA      | $4774155.32   | 0.84%             | 2035-03-25      | Floating      | 4.59%                 | No            |                  2 | On Loan: No      |
| NOMURA SECURITIES INTERNATIONAL INC              | RRP SRS DISTRIB                                                                  | CUSIP: 000000000<br>LEI: OXTKY6Q8X53C9ILVV871 | Short            | RA               | CORP              | US        |   -403750 | PA      | $-403750.00   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                         | Madison Park Funding XVII Ltd                                                    | CUSIP: 55818YBJ9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $485508.30    | 0.08%             | 2030-07-21      | Floating      | 8.42%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES USA, INC.                        | RRP AMERICAN TO                                                                  | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | Short            | RA               | CORP              | US        |   -294482 | PA      | $-294482.50   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| Palmer Square CLO Ltd                            | Palmer Square CLO 2014-1 Ltd                                                     | CUSIP: 69688XAS0<br>LEI: 549300UP5H2PFBIITY41 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $248669.85    | 0.04%             | 2031-01-17      | Floating      | 5.92%                 | No            |                  2 | On Loan: No      |
| NATIONSTAR MTG HLD INC                           | Nationstar Mortgage Holdings Inc                                                 | CUSIP: 63861CAE9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    146000 | PA      | $117530.00    | 0.02%             | 2031-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| TELECOM ITALIA SPA                               | Telecom Italia SpA/Milano                                                        | CUSIP: 000000000<br>LEI: 549300W384M3RI3VXU42 | Long             | DBT              | CORP              | IT        |    100000 | PA      | $101648.55    | 0.02%             | 2025-04-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Crown Cork & Seal Co Inc                         | Crown Cork & Seal Co Inc                                                         | CUSIP: 228255AH8<br>LEI: 7HLDMDH0ZXNUH6PT7Z42 | Long             | DBT              | CORP              | US        |     45000 | PA      | $47006.33     | 0.01%             | 2026-12-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                          | RRP WILLIAMS CO                                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |  -1636250 | PA      | $-1636250.00  | -0.29%            |  |  |  | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP ENERGY TRAN                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -593392 | PA      | $-593392.50   | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| Lockheed Martin Corp                             | Lockheed Martin Corp                                                             | CUSIP: 539830BN8<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | DBT              | CORP              | US        |    451000 | PA      | $413356.09    | 0.07%             | 2052-09-15      | Fixed         | 4.09%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                      | RRP FNMA 30YR F                                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |    -23679 | PA      | $-23678.79    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                          | Royal Caribbean Cruises Ltd                                                      | CUSIP: 780153BJ0<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |    116000 | PA      | $103815.53    | 0.02%             | 2026-08-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                       | Fannie Mae Pool                                                                  | CUSIP: 3140X4EZ5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     18299 | PA      | $18393.80     | 0.00%             | 2049-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Graham Holdings Co                               | Graham Holdings Co                                                               | CUSIP: 384637AA2<br>LEI: 529900BOSCEEEMAFQJ29 | Long             | DBT              | CORP              | US        |    135000 | PA      | $133312.50    | 0.02%             | 2026-06-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                          | Royal Caribbean Cruises Ltd                                                      | CUSIP: 780153BR2<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |    448000 | PA      | $472581.76    | 0.08%             | 2029-01-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| UBER TECHNOLOGIES INC                            | Uber Technologies Inc                                                            | CUSIP: 90353TAK6<br>LEI: 549300B2FTG34FILDR98 | Long             | DBT              | CORP              | US        |    858000 | PA      | $763888.13    | 0.13%             | 2029-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| AVIENT CORP                                      | Avient Corp                                                                      | CUSIP: 05368VAA4<br>LEI: SM8L9RZYIB34LNTWO040 | Long             | DBT              | CORP              | US        |    214000 | PA      | $215594.00    | 0.04%             | 2030-08-01      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                    | Carnival Corp                                                                    | CUSIP: 143658BJ0<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    335000 | PA      | $344212.50    | 0.06%             | 2027-08-01      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL CALCASIEU                         | Venture Global Calcasieu Pass LLC                                                | CUSIP: 92328MAA1<br>LEI: 549300GKHS6RS20NLH85 | Long             | DBT              | CORP              | US        |   1114000 | PA      | $991460.00    | 0.17%             | 2029-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                      | Freddie Mac Pool                                                                 | CUSIP: 3132ADPE2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     23092 | PA      | $23241.63     | 0.00%             | 2048-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BX Trust                                         | BX Commercial Mortgage Trust 2021-SOAR                                           | CUSIP: 05608WAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1637595 | PA      | $1597146.29   | 0.28%             | 2038-06-15      | Floating      | 5.13%                 | No            |                  2 | On Loan: No      |
| MINERALS TECHNOLOGIES IN                         | Minerals Technologies Inc                                                        | CUSIP: 603158AA4<br>LEI: 549300D3I1QU67GP6403 | Long             | DBT              | CORP              | US        |    218000 | PA      | $199361.00    | 0.03%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TCI-Symphony CLO                                 | TCI-Symphony CLO 2017-1 Ltd                                                      | CUSIP: 87232BAF9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1456001 | PA      | $1439990.08   | 0.25%             | 2030-07-15      | Floating      | 5.72%                 | No            |                  2 | On Loan: No      |
| NEW GOLD INC                                     | New Gold Inc                                                                     | CUSIP: 644535AH9<br>LEI: 5493005G0GNCHP0H6L96 | Long             | DBT              | CORP              | CA        |    900000 | PA      | $835021.10    | 0.15%             | 2027-07-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| ENDEAVOR ENERGY RESOURCE                         | Endeavor Energy Resources LP / EER Finance Inc                                   | CUSIP: 29260FAE0<br>LEI: 549300WY5QI80P9WHD46 | Long             | DBT              | CORP              | US        |    567000 | PA      | $555660.00    | 0.10%             | 2028-01-30      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| McAfee, LLC                                      | McAfee, LLC 2022 USD Term Loan B                                                 | CUSIP: 57906HAD9<br>LEI: 2549009UKR8UEZYVCR93 | Long             | LON              | CORP              | US        |    874610 | PA      | $823777.65    | 0.14%             | 2029-03-01      | Variable      | 8.42%                 | No            |                  2 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                         | Warnermedia Holdings Inc                                                         | CUSIP: 55903VAL7<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |    983000 | PA      | $874825.60    | 0.15%             | 2032-03-15      | Fixed         | 4.28%                 | No            |                  2 | On Loan: No      |
| Zayo Group Holdings, Inc.                        | Zayo Group Holdings, Inc. USD Term Loan                                          | CUSIP: 98919XAB7<br>LEI: 529900Z6OTS7RT0V0I47 | Long             | LON              | CORP              | US        |    905463 | PA      | $757763.70    | 0.13%             | 2027-03-09      | Floating      | 7.57%                 | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES INC                            | American Airlines Inc                                                            | CUSIP: 023771S58<br>LEI: IWUQB36BXD6OWD6X4T14 | Long             | DBT              | CORP              | US        |    554000 | PA      | $616632.47    | 0.11%             | 2025-07-15      | Fixed         | 11.75%                | No            |                  2 | On Loan: No      |
| NEW ENTERPRISE STONE & L                         | New Enterprise Stone & Lime Co Inc                                               | CUSIP: 644274AG7<br>LEI: 549300O5DQ5Y61B8VF38 | Long             | DBT              | CORP              | US        |     48000 | PA      | $45517.68     | 0.01%             | 2028-07-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| GRAPHIC PACKAGING INTERN                         | Graphic Packaging International LLC                                              | CUSIP: 38869AAC1<br>LEI: SO75N4VY5NXGQSK8YQ65 | Long             | DBT              | CORP              | US        |     32000 | PA      | $28164.80     | 0.00%             | 2029-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| MGM CHINA HOLDINGS LTD                           | MGM China Holdings Ltd                                                           | CUSIP: 000000000<br>LEI: 529900VZFN87OS7WJM66 | Long             | DBT              | CORP              | KY        |    250000 | PA      | $236296.88    | 0.04%             | 2026-05-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| GOODYEAR TIRE & RUBBER                           | Goodyear Tire & Rubber Co/The                                                    | CUSIP: 382550BN0<br>LEI: 5493002BI0S2ZQUY3437 | Long             | DBT              | CORP              | US        |    132000 | PA      | $116282.76    | 0.02%             | 2029-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                         | Ford Motor Credit Co LLC                                                         | CUSIP: 345397C27<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    519000 | PA      | $495264.95    | 0.09%             | 2027-05-28      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| NOMURA SECURITIES INTERNATIONAL INC              | RRP CENTENE COR                                                                  | CUSIP: 000000000<br>LEI: OXTKY6Q8X53C9ILVV871 | Short            | RA               | CORP              | US        |   -602525 | PA      | $-602525.00   | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                           | US 10YR NOTE (CBT)MAR23                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |     -1073 | NC      | $-1974848.61  | -0.35%            |  |  |  | No            |                  1 | On Loan: No      |
| CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK SA | RRP LCPR SENIOR                                                                  | CUSIP: 000000000<br>LEI: 1VUV7VQFKUOQSJ21A208 | Short            | RA               | CORP              | US        |   -499988 | PA      | $-499987.50   | -0.09%            |  |  |  | No            |                  2 | On Loan: No      |
| ALTICE FRANCE SA                                 | Altice France SA/France                                                          | CUSIP: 02156LAC5<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |    357000 | PA      | $296495.64    | 0.05%             | 2028-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SHIFT4 PAYMENTS LLC/FIN                          | Shift4 Payments LLC / Shift4 Payments Finance Sub Inc                            | CUSIP: 82453AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    666000 | PA      | $630728.64    | 0.11%             | 2026-11-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| VICI PROPERTIES / NOTE                           | VICI Properties LP / VICI Note Co Inc                                            | CUSIP: 92564RAF2<br>LEI: N/A                  | Long             | DBT              |  | US        |     69000 | PA      | $68855.70     | 0.01%             | 2024-05-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| GRAPHIC PACKAGING INTERN                         | Graphic Packaging International LLC                                              | CUSIP: 38869AAA5<br>LEI: SO75N4VY5NXGQSK8YQ65 | Long             | DBT              | CORP              | US        |    104000 | PA      | $100100.00    | 0.02%             | 2027-07-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Symphony CLO Ltd                                 | Symphony CLO XV Ltd                                                              | CUSIP: 87154EBE9<br>LEI: 549300JNP1PJXORD0Y06 | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $494918.25    | 0.09%             | 2032-01-17      | Floating      | 5.87%                 | No            |                  2 | On Loan: No      |
| PILGRIM'S PRIDE CORP                             | Pilgrim's Pride Corp                                                             | CUSIP: 72147KAG3<br>LEI: 549300ZSLGV64ZL3HD75 | Long             | DBT              | CORP              | US        |    168000 | PA      | $136903.20    | 0.02%             | 2032-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Gainwell Acquisition Corp.                       | Gainwell Acquisition Corp. Term Loan B                                           | CUSIP: 59909TAC8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    556542 | PA      | $542583.81    | 0.09%             | 2027-10-01      | Floating      | 8.73%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PERU                                 | Peruvian Government International Bond                                           | CUSIP: 715638DF6<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |    233000 | PA      | $196783.06    | 0.03%             | 2031-01-23      | Fixed         | 2.78%                 | No            |                  2 | On Loan: No      |
| CHART INDUSTRIES INC                             | Chart Industries Inc                                                             | CUSIP: 000000000<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | DBT              | CORP              | US        |    120000 | PA      | $125218.80    | 0.02%             | 2031-01-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| HILTON DOMESTIC OPERATIN                         | Hilton Domestic Operating Co Inc                                                 | CUSIP: 432833AL5<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |    423000 | PA      | $366529.50    | 0.06%             | 2031-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GROUP 1 AUTOMOTIVE INC                           | Group 1 Automotive Inc                                                           | CUSIP: 398905AN9<br>LEI: 549300US8QAZJLWYAF63 | Long             | DBT              | CORP              | US        |     59000 | PA      | $51888.14     | 0.01%             | 2028-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HOWMET AEROSPACE INC                             | Howmet Aerospace Inc                                                             | CUSIP: 013817AW1<br>LEI: 549300HO5WFZUT5N2T22 | Long             | DBT              | CORP              | US        |      2000 | PA      | $1990.00      | 0.00%             | 2024-10-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Benefit Street Partners CLO Ltd                  | Benefit Street Partners CLO II Ltd                                               | CUSIP: 08179XAW5<br>LEI: 549300PVYNJC7QL0GC48 | Long             | ABS-CBDO         | CORP              | KY        |    213046 | PA      | $210317.39    | 0.04%             | 2029-07-15      | Floating      | 5.66%                 | No            |                  2 | On Loan: No      |
| TELECOM ITALIA CAPITAL                           | Telecom Italia Capital SA                                                        | CUSIP: 87927VAF5<br>LEI: 549300777DJZOR5C4L39 | Long             | DBT              | CORP              | LU        |    191000 | PA      | $162393.93    | 0.03%             | 2033-11-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| COHERENT CORP                                    | Coherent Corp                                                                    | CUSIP: 902104AC2<br>LEI: 549300O5C25A0MMHHU33 | Long             | DBT              | CORP              | US        |    947000 | PA      | $860021.60    | 0.15%             | 2029-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PARAGUAY                             | Paraguay Government International Bond                                           | CUSIP: 000000000<br>LEI: 529900UXKJTJPCU0HK83 | Long             | DBT              | NUSS              | PY        |    400000 | PA      | $356075.00    | 0.06%             | 2050-03-30      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP COLOMBIA (R                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -396338 | PA      | $-396337.50   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| Naked Juice LLC                                  | Naked Juice LLC 2nd Lien Term Loan                                               | CUSIP: 62984CAB9<br>LEI: 549300Y5TU1XQ1KVLJ64 | Long             | LON              | CORP              | US        |     38000 | PA      | $31207.50     | 0.01%             | 2030-01-24      | Floating      | 10.68%                | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP ILIAD HOLDI                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -744175 | PA      | $-744175.00   | -0.13%            |  |  |  | No            |                  2 | On Loan: No      |
| OCP CLO Ltd                                      | OCP Clo 2019-17 Ltd                                                              | CUSIP: 67113LAL0<br>LEI: 2549003HLFPQ7ATPYA23 | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $494399.55    | 0.09%             | 2032-07-20      | Floating      | 5.85%                 | No            |                  2 | On Loan: No      |
| TERVITA CORP                                     | Tervita Corp                                                                     | CUSIP: 88159EAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    147000 | PA      | $159311.25    | 0.03%             | 2025-12-01      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| CIDRON AIDA FINCO SARL                           | Cidron Aida Finco Sarl                                                           | CUSIP: 000000000<br>LEI: 98450036A07991DEBF10 | Long             | DBT              | CORP              | LU        |    100000 | PA      | $97718.51     | 0.02%             | 2028-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                            | Tenet Healthcare Corp                                                            | CUSIP: 88033GDD9<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    433000 | PA      | $426080.92    | 0.07%             | 2024-09-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Churchill Downs Inc                              | Churchill Downs Inc                                                              | CUSIP: 171484AE8<br>LEI: 529900FODTBQC8MIS994 | Long             | DBT              | CORP              | US        |    434000 | PA      | $406076.44    | 0.07%             | 2028-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| UNITED MEXICAN STATES                            | Mexico Government International Bond                                             | CUSIP: 91087BAV2<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    200000 | PA      | $212300.00    | 0.04%             | 2035-02-09      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| Republic of Sri Lanka                            | Sri Lanka Government International Bond                                          | CUSIP: 000000000<br>LEI: 254900HXCCIOHM74FA02 | Long             | DBT              | NUSS              | LK        |    400000 | PA      | $135825.00    | 0.02%             | 2024-03-14      | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| RITCHIE BROS AUCTIONEERS                         | Ritchie Bros Auctioneers Inc                                                     | CUSIP: 767744AA3<br>LEI: 5493002H8U24DJXQ4886 | Long             | DBT              | CORP              | CA        |    157000 | PA      | $155066.56    | 0.03%             | 2025-01-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| WEATHERFORD INTL LTD                             | Weatherford International Ltd                                                    | CUSIP: 947075AP2<br>LEI: 549300A2JKMG5PGOGF82 | Long             | DBT              | CORP              | BM        |      9000 | PA      | $9247.50      | 0.00%             | 2024-12-01      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| Verscend Holding Corp.                           | Verscend Holding Corp. 2021 Term Loan B                                          | CUSIP: 92531HAD9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1238920 | PA      | $1235376.44   | 0.22%             | 2025-08-27      | Floating      | 8.57%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                           | General Motors Financial Co Inc                                                  | CUSIP: 37045XDB9<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    395000 | PA      | $365375.00    | 0.06%             | 2030-09-30      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP ENBRIDGE IN                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -559762 | PA      | $-559762.50   | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| Stratus CLO                                      | Stratus Static CLO 2022-3 Ltd                                                    | CUSIP: 86317EAG1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |    500000 | PA      | $495749.70    | 0.09%             | 2031-10-20      | Floating      | 9.49%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                 | COLT 2022-7 Mortgage Loan Trust                                                  | CUSIP: 12663GAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2524604 | PA      | $2502804.65   | 0.44%             | 2067-04-25      | Variable      | 5.16%                 | No            |                  2 | On Loan: No      |
| DIAMONDBACK ENERGY INC                           | Diamondback Energy Inc                                                           | CUSIP: 25278XAV1<br>LEI: 549300R22LSX6OHWEN64 | Long             | DBT              | CORP              | US        |   1022000 | PA      | $1087674.49   | 0.19%             | 2033-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                      | RRP FNMA 30YR U                                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -105176 | PA      | $-105175.76   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| ANTERO MIDSTREAM PART/FI                         | Antero Midstream Partners LP / Antero Midstream Finance Corp                     | CUSIP: 03690AAD8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    382000 | PA      | $370540.00    | 0.06%             | 2027-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| TELEFONICA EUROPE BV                             | Telefonica Europe BV                                                             | CUSIP: 000000000<br>LEI: 7245007FZS0M65WUGP67 | Long             | DBT              | CORP              | NL        |    100000 | PA      | $113471.31    | 0.02%             | 2028-08-23      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| GATES GLOBAL/GATES CORP                          | Gates Global LLC / Gates Corp                                                    | CUSIP: 36740LAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    572000 | PA      | $563327.05    | 0.10%             | 2026-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BELLIS ACQUISITION CO PL                         | Bellis Acquisition Co PLC                                                        | CUSIP: 000000000<br>LEI: 259400CYE2267UB4A481 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $101401.87    | 0.02%             | 2026-02-16      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| ABBVIE INC                                       | AbbVie Inc                                                                       | CUSIP: 00287YDB2<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |    500000 | PA      | $480389.31    | 0.08%             | 2045-03-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank N.A.                         | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |         1 | NC      | $-6336.62     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                         | Madison Park Funding XXIX LTD                                                    | CUSIP: 55820EAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $458527.10    | 0.08%             | 2030-10-18      | Floating      | 10.49%                | No            |                  2 | On Loan: No      |
| SHIFT4 PAYMENTS INC                              | Shift4 Payments Inc                                                              | CUSIP: 82452JAB5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    219000 | PA      | $233782.50    | 0.04%             | 2025-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                       | Fannie Mae Pool                                                                  | CUSIP: 3140X66E6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1365640 | PA      | $1344321.95   | 0.24%             | 2049-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INFO MGMT                          | Iron Mountain Information Management Services Inc                                | CUSIP: 46285MAA8<br>LEI: N/A                  | Long             | DBT              |  | US        |    294000 | PA      | $254898.45    | 0.04%             | 2032-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NOMURA SECURITIES INTERNATIONAL INC              | RRP MADISON IAQ                                                                  | CUSIP: 000000000<br>LEI: OXTKY6Q8X53C9ILVV871 | Short            | RA               | CORP              | US        |   -234720 | PA      | $-234720.00   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| MPT OPER PARTNERSP/FINL                          | MPT Operating Partnership LP / MPT Finance Corp                                  | CUSIP: 55342UAJ3<br>LEI: N/A                  | Long             | DBT              |  | US        |    469000 | PA      | $364647.50    | 0.06%             | 2029-08-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                          | Frontier Communications Holdings LLC                                             | CUSIP: 35908MAD2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    748000 | PA      | $775115.00    | 0.14%             | 2030-05-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| TransDigm Inc                                    | TransDigm Inc                                                                    | CUSIP: 893647BE6<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |   6944000 | PA      | $6941553.91   | 1.22%             | 2026-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BROOKFIELD PPTY REIT INC                         | Brookfield Property REIT Inc / BPR Cumulus LLC / BPR Nimbus LLC / GGSI Sellco LL | CUSIP: 11284DAC9<br>LEI: N/A                  | Long             | DBT              |  | US        |    227000 | PA      | $199290.11    | 0.03%             | 2027-04-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| SIRIUS XM RADIO INC                              | Sirius XM Radio Inc                                                              | CUSIP: 82967NBG2<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |    139000 | PA      | $119210.57    | 0.02%             | 2030-07-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP MPT OPERATI                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |  -1050975 | PA      | $-1050975.00  | -0.18%            |  |  |  | No            |                  2 | On Loan: No      |
| Deerfield Dakota Holding, LLC                    | Deerfield Dakota Holding, LLC 2021 USD 2nd Lien Term Loan                        | CUSIP: 24440EAG2<br>LEI: 549300FDREJLOIGXY104 | Long             | LON              | CORP              | US        |    274000 | PA      | $257902.50    | 0.05%             | 2028-04-07      | Floating      | 11.32%                | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP CATALENT PH                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -248078 | PA      | $-248077.50   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| Polaris Newco LLC                                | Polaris Newco LLC USD Term Loan B                                                | CUSIP: 73108RAB4<br>LEI: 254900LEPDAG7EDOA064 | Long             | LON              | CORP              | US        |    310449 | PA      | $294635.16    | 0.05%             | 2028-06-02      | Floating      | 8.73%                 | No            |                  2 | On Loan: No      |
| ROCKETMTGE CO-ISSUER INC                         | Rocket Mortgage LLC / Rocket Mortgage Co-Issuer Inc                              | CUSIP: 77313LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    614000 | PA      | $547420.91    | 0.10%             | 2026-10-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                      | Oracle Corp                                                                      | CUSIP: 68389XCE3<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    341000 | PA      | $293709.80    | 0.05%             | 2031-03-25      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| JELD-WEN INC                                     | JELD-WEN Inc                                                                     | CUSIP: 475795AE0<br>LEI: 549300XWE6NM0N1HFW16 | Long             | DBT              | CORP              | US        |    189000 | PA      | $181071.08    | 0.03%             | 2025-05-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| TRANSOCEAN INC                                   | Transocean Inc                                                                   | CUSIP: 893830BQ1<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | KY        |    239000 | PA      | $249384.55    | 0.04%             | 2027-01-30      | Fixed         | 11.50%                | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDI                                 | Ford Motor Credit Co LLC                                                         | CUSIP: 345397B69<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    617000 | PA      | $513196.56    | 0.09%             | 2031-06-17      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| ROCKIES EXPRESS PIPELINE                         | Rockies Express Pipeline LLC                                                     | CUSIP: 77340RAR8<br>LEI: W2ZGZGZKY5GGNY6F3V51 | Long             | DBT              | CORP              | US        |     66000 | PA      | $59655.92     | 0.01%             | 2029-07-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| TWILIO INC                                       | Twilio Inc                                                                       | CUSIP: 90138FAD4<br>LEI: 5493004W8TRGD63APX93 | Long             | DBT              | CORP              | US        |    645000 | PA      | $532436.28    | 0.09%             | 2031-03-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| STARWOOD PROPERTY TRUST                          | Starwood Property Trust Inc                                                      | CUSIP: 85571BAY1<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              |  | US        |     99000 | PA      | $88852.50     | 0.02%             | 2027-01-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                      | RRP FNMA 30YR U                                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -242255 | PA      | $-242254.64   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| JP MORGAN SECURITIES LLC                         | RRP HEALTHEQUIT                                                                  | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | Short            | RA               | CORP              | US        |   -340625 | PA      | $-340625.00   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                           | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    368000 | PA      | $321554.72    | 0.06%             | 2030-03-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Ultimate Software Group Inc (The)                | Ultimate Software Group Inc (The) Term Loan B                                    | CUSIP: 90385KAB7<br>LEI: 529900FKHWSTQ1GXK240 | Long             | LON              | CORP              | US        |    208148 | PA      | $205923.23    | 0.04%             | 2026-05-04      | Floating      | 8.58%                 | No            |                  2 | On Loan: No      |
| TELECOM ITALIA CAPITAL                           | Telecom Italia Capital SA                                                        | CUSIP: 87927VAV0<br>LEI: 549300777DJZOR5C4L39 | Long             | DBT              | CORP              | LU        |     71000 | PA      | $61228.98     | 0.01%             | 2038-06-04      | Fixed         | 7.72%                 | No            |                  2 | On Loan: No      |
| LUMEN TECHNOLOGIES INC                           | Lumen Technologies Inc                                                           | CUSIP: 156700BD7<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |    833000 | PA      | $560192.50    | 0.10%             | 2029-01-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| EP Purchaser, LLC                                | EP Purchaser, LLC 2021 Term Loan B                                               | CUSIP: 26881KAC8<br>LEI: 549300GGODRVQG1GH476 | Long             | LON              | CORP              | US        |     82423 | PA      | $82175.79     | 0.01%             | 2028-11-06      | Floating      | 8.23%                 | No            |                  2 | On Loan: No      |
| OCADO GROUP PLC                                  | Ocado Group PLC                                                                  | CUSIP: 000000000<br>LEI: 213800LO8F61YB8MBC74 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $96347.19     | 0.02%             | 2026-10-08      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| SENSATA TECH INC                                 | Sensata Technologies Inc                                                         | CUSIP: 81728UAA2<br>LEI: 5493002MMDDCUNV7NY90 | Long             | DBT              | CORP              | US        |    818000 | PA      | $740502.68    | 0.13%             | 2030-02-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                                | Iron Mountain Inc                                                                | CUSIP: 46284VAG6<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              |  | US        |     40000 | PA      | $36780.53     | 0.01%             | 2028-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                          | RRP AT+T INC 4.                                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |  -2204606 | PA      | $-2204606.25  | -0.39%            |  |  |  | No            |                  2 | On Loan: No      |
| CROCS INC                                        | Crocs Inc                                                                        | CUSIP: 227046AA7<br>LEI: 549300B0J6YCXD63OG72 | Long             | DBT              | CORP              | US        |     32000 | PA      | $27880.00     | 0.00%             | 2029-03-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Sprint Capital Corp                              | Sprint Capital Corp                                                              | CUSIP: 852060AD4<br>LEI: 549300L17W0GQBR1PO80 | Long             | DBT              | CORP              | US        |   1886000 | PA      | $2017712.41   | 0.35%             | 2028-11-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| CAESARS RESORT / FINCO                           | Caesars Resort Collection LLC / CRC Finco Inc                                    | CUSIP: 12770RAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     20000 | PA      | $20003.40     | 0.00%             | 2025-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                      | Freddie Mac Pool                                                                 | CUSIP: 3132AEAV8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    130812 | PA      | $131702.79    | 0.02%             | 2048-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES USA, INC.                        | RRP BROADCOM CO                                                                  | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | Short            | RA               | CORP              | US        |   -408425 | PA      | $-408425.00   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL CALCASIEU                         | Venture Global Calcasieu Pass LLC                                                | CUSIP: 92328MAC7<br>LEI: 549300GKHS6RS20NLH85 | Long             | DBT              | CORP              | US        |   1961000 | PA      | $1665771.45   | 0.29%             | 2033-11-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| US FOODS INC                                     | US Foods Inc                                                                     | CUSIP: 90290MAD3<br>LEI: 5493000JOOFAOUY1JZ87 | Long             | DBT              | CORP              | US        |    427000 | PA      | $390617.18    | 0.07%             | 2029-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                          | RRP TRANSURBAN                                                                   | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -482950 | PA      | $-482950.00   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| ATI INC                                          | ATI Inc                                                                          | CUSIP: 01741RAL6<br>LEI: ZW1LRE7C3H17O2ZN9B45 | Long             | DBT              | CORP              | US        |    129000 | PA      | $118051.77    | 0.02%             | 2029-10-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| NETWORK I2I LTD                                  | Network i2i Ltd                                                                  | CUSIP: V6703DAA2<br>LEI: 2549003L8M1FGHLHOX45 | Long             | DBT              | CORP              | MU        |    250000 | PA      | $240515.63    | 0.04%             | 2025-01-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| CONNECT FINCO SARL/CONNE                         | Connect Finco SARL / Connect US Finco LLC                                        | CUSIP: 20752TAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |   2129000 | PA      | $2035856.25   | 0.36%             | 2026-10-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Altice Financing SA                              | Altice Financing SA 2017 USD Term Loan B                                         | CUSIP: 000000000<br>LEI: 549300DIYGW8HVDF7Q17 | Long             | LON              | CORP              | LU        |         0 | PA      | $0.02         | 0.00%             | 2025-07-15      | Floating      | 7.58%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP CROWNROCK L                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -873042 | PA      | $-873042.50   | -0.15%            |  |  |  | No            |                  2 | On Loan: No      |
| NOMURA SECURITIES INTERNATIONAL INC              | RRP CCO HOLDING                                                                  | CUSIP: 000000000<br>LEI: OXTKY6Q8X53C9ILVV871 | Short            | RA               | CORP              | US        |   -315560 | PA      | $-315560.00   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| CRESCENT ENERGY FINANCE                          | Crescent Energy Finance LLC                                                      | CUSIP: 45344LAC7<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |    232000 | PA      | $231640.40    | 0.04%             | 2028-02-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| W.R. Grace & Co.-Conn.                           | W.R. Grace & Co.-Conn. 2021 Term Loan B                                          | CUSIP: 92943HAB5<br>LEI: 549300WNOVFRGYOAEB12 | Long             | LON              | CORP              | US        |    254237 | PA      | $252421.31    | 0.04%             | 2028-09-22      | Floating      | 8.50%                 | No            |                  2 | On Loan: No      |
| NCR CORP                                         | NCR Corp                                                                         | CUSIP: 62886EAV0<br>LEI: 549300YKTY8JX1DV2R67 | Long             | DBT              | CORP              | US        |     93000 | PA      | $92070.00     | 0.02%             | 2029-09-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| NOMURA SECURITIES INTERNATIONAL INC              | RRP ALBERTSONS                                                                   | CUSIP: 000000000<br>LEI: OXTKY6Q8X53C9ILVV871 | Short            | RA               | CORP              | US        |   -245875 | PA      | $-245875.00   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| iHeartCommunications Inc                         | iHeartCommunications Inc                                                         | CUSIP: 45174HBC0<br>LEI: 54930076J6KDZL504O62 | Long             | DBT              | CORP              | US        |    191814 | PA      | $183259.10    | 0.03%             | 2026-05-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Titan Acquisition Limited                        | Titan Acquisition Limited 2018 Term Loan B                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | CA        |   1807692 | PA      | $1759951.10   | 0.31%             | 2025-03-28      | Floating      | 8.15%                 | No            |                  2 | On Loan: No      |
| CANTOR FITZGERALD & CO                           | RRP FNMA 30YR F                                                                  | CUSIP: 000000000<br>LEI: 5493004J7H4GCPG6OB62 | Short            | RA               | CORP              | US        |  -1623776 | PA      | $-1623776.24  | -0.28%            |  |  |  | No            |                  2 | On Loan: No      |
| HUB International Ltd                            | HUB International Ltd                                                            | CUSIP: 44332PAD3<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |   1392000 | PA      | $1378121.76   | 0.24%             | 2026-05-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ALM Loan Funding                                 | ALM 2020 Ltd                                                                     | CUSIP: 00166DAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    287000 | PA      | $259773.75    | 0.05%             | 2029-10-15      | Floating      | 10.79%                | No            |                  2 | On Loan: No      |
| CAESARS ENTERTAIN INC                            | Caesars Entertainment Inc                                                        | CUSIP: 12769GAB6<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |   1545000 | PA      | $1572037.50   | 0.28%             | 2030-02-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| BAYER AG                                         | Bayer AG                                                                         | CUSIP: 000000000<br>LEI: 549300J4U55H3WP1XT59 | Long             | DBT              | CORP              | DE        |    100000 | PA      | $102338.90    | 0.02%             | 2082-03-25      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Countrywide Home Loans                           | CHL Mortgage Pass-Through Trust 2006-OA5                                         | CUSIP: 126694N46<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4165566 | PA      | $3861224.71   | 0.68%             | 2046-04-25      | Floating      | 4.91%                 | No            |                  2 | On Loan: No      |
| ORGANON & CO/ORG                                 | Organon & Co / Organon Foreign Debt Co-Issuer BV                                 | CUSIP: 68622TAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    536000 | PA      | $483895.44    | 0.08%             | 2031-04-30      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| ICON LUXEMBOURG SARL                             | ICON LUXEMBOURG SARL                                                             | CUSIP: 000000000<br>LEI: 635400PUWMHSPI2DDA35 | Long             | LON              | CORP              | LU        |     52190 | PA      | $52170.54     | 0.01%             | 2028-07-03      | Floating      | 7.00%                 | No            |                  2 | On Loan: No      |
| ENLINK MIDSTREAM PARTNER                         | EnLink Midstream Partners LP                                                     | CUSIP: 29336UAD9<br>LEI: 88CPW63VL7KHJWS0NY83 | Long             | DBT              | CORP              | US        |     49000 | PA      | $38521.22     | 0.01%             | 2045-04-01      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| CONSTELLIUM SE                                   | Constellium SE                                                                   | CUSIP: 21039CAB0<br>LEI: 724500KRJEMC79KAAU28 | Long             | DBT              | CORP              | FR        |   1645000 | PA      | $1398990.25   | 0.24%             | 2029-04-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                      | Oracle Corp                                                                      | CUSIP: 68389XCJ2<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    962000 | PA      | $1045651.93   | 0.18%             | 2032-11-09      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                 | CIFC Funding 2022-VII Ltd                                                        | CUSIP: 12569GAA0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $496252.15    | 0.09%             | 2035-10-22      | Floating      | 13.15%                | No            |                  2 | On Loan: No      |
| FIRSTENERGY CORP                                 | FirstEnergy Corp                                                                 | CUSIP: 337932AM9<br>LEI: 549300SVYJS666PQJH88 | Long             | DBT              | CORP              | US        |    575000 | PA      | $408485.75    | 0.07%             | 2050-03-01      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| NOMURA SECURITIES INTERNATIONAL INC              | RRP CSC HOLDING                                                                  | CUSIP: 000000000<br>LEI: OXTKY6Q8X53C9ILVV871 | Short            | RA               | CORP              | US        |   -371875 | PA      | $-371875.00   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP CLARIOS GLO                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -940844 | PA      | $-940843.75   | -0.16%            |  |  |  | No            |                  2 | On Loan: No      |
| CA MAGNUM HOLDINGS                               | CA Magnum Holdings                                                               | CUSIP: 12674CAA1<br>LEI: 549300ZRDHFR078MFZ78 | Long             | DBT              | CORP              | MU        |    488000 | PA      | $448960.00    | 0.08%             | 2026-10-31      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| RHP HOTEL PPTY/RHP FINAN                         | RHP Hotel Properties LP / RHP Finance Corp                                       | CUSIP: 749571AF2<br>LEI: N/A                  | Long             | DBT              |  | US        |    583000 | PA      | $546051.78    | 0.10%             | 2027-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ALLIANT HOLD / CO-ISSUER                         | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                   | CUSIP: 01883LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2012000 | PA      | $1881883.96   | 0.33%             | 2027-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| NOMURA SECURITIES INTERNATIONAL INC              | RRP CHENIERE EN                                                                  | CUSIP: 000000000<br>LEI: OXTKY6Q8X53C9ILVV871 | Short            | RA               | CORP              | US        |   -656910 | PA      | $-656910.00   | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| ANHEUSER-BUSCH CO/INBEV                          | Anheuser-Busch Cos LLC / Anheuser-Busch InBev Worldwide Inc                      | CUSIP: 03522AAJ9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2160000 | PA      | $2108335.80   | 0.37%             | 2046-02-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Countrywide Alternative Loan Trust               | Alternative Loan Trust 2006-OA8                                                  | CUSIP: 02147CAA1<br>LEI: 549300EBNJLBIQBKE071 | Long             | ABS-MBS          | CORP              | US        |   1126469 | PA      | $951342.65    | 0.17%             | 2046-07-25      | Floating      | 4.89%                 | No            |                  2 | On Loan: No      |
| HILTON DOMESTIC OPERATIN                         | Hilton Domestic Operating Co Inc                                                 | CUSIP: 432833AJ0<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |    186000 | PA      | $165188.46    | 0.03%             | 2029-05-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| 1011778 BC / NEW RED FIN                         | 1011778 BC ULC / New Red Finance Inc                                             | CUSIP: 68245XAH2<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    557000 | PA      | $509086.86    | 0.09%             | 2028-01-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| BANGKOK BANK PCL/HK                              | Bangkok Bank PCL/Hong Kong                                                       | CUSIP: 000000000<br>LEI: 549300CCL2BKJGMYXV60 | Long             | DBT              | CORP              | TH        |    205000 | PA      | $197056.25    | 0.03%             | 2025-09-23      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WYNDHAM HOTELS & RESORTS                         | Wyndham Hotels & Resorts Inc                                                     | CUSIP: 98311AAB1<br>LEI: 549300FE3MQ4RVXXC673 | Long             | DBT              | CORP              | US        |    204000 | PA      | $188150.34    | 0.03%             | 2028-08-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Surgery Center Holdings, Inc.                    | Surgery Center Holdings, Inc. 2021 Term Loan                                     | CUSIP: 86880NAX1<br>LEI: 54930054EVI5HWPPW113 | Long             | LON              | CORP              | US        |    207334 | PA      | $206764.15    | 0.04%             | 2026-08-31      | Floating      | 8.21%                 | No            |                  2 | On Loan: No      |
| SINCLAIR TELEVISION GROU                         | Sinclair Television Group Inc                                                    | CUSIP: 829259BA7<br>LEI: 549300CQGEN0CH65UD62 | Long             | DBT              | CORP              | US        |    643000 | PA      | $511185.00    | 0.09%             | 2030-12-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP ROYAL CARIB                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -352800 | PA      | $-352800.00   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| WYNN RESORTS FINANCE LLC                         | Wynn Resorts Finance LLC / Wynn Resorts Capital Corp                             | CUSIP: 983133AA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    968000 | PA      | $863940.00    | 0.15%             | 2029-10-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP CCO HOLDING                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -407430 | PA      | $-407430.00   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| Intesa Sanpaolo SpA                              | Intesa Sanpaolo SpA                                                              | CUSIP: 46115HAW7<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | DBT              | CORP              | IT        |    200000 | PA      | $196532.23    | 0.03%             | 2026-01-15      | Fixed         | 5.71%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP SM ENERGY C                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -120951 | PA      | $-120951.25   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Standard Chartered PLC                           | Standard Chartered PLC                                                           | CUSIP: 853254BK5<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |    500000 | PA      | $458595.00    | 0.08%             | 2033-03-15      | Fixed         | 4.87%                 | No            |                  2 | On Loan: No      |
| PERMIAN RESOURC OPTG LLC                         | Permian Resources Operating LLC                                                  | CUSIP: 19416MAB5<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |    452000 | PA      | $423660.73    | 0.07%             | 2029-07-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| SCIENTIFIC GAMES INTERNA                         | Scientific Games International Inc                                               | CUSIP: 80874YBE9<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | DBT              | CORP              | US        |    213000 | PA      | $213564.45    | 0.04%             | 2029-11-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| UKRAINE GOVERNMENT                               | Ukraine Government International Bond                                            | CUSIP: 903724BY7<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |    371000 | PA      | $72298.63     | 0.01%             | 2035-03-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Stars Group Holdings B.V. (The)                  | Stars Group Holdings B.V. (The) 2018 USD Incremental Term Loan                   | CUSIP: 000000000<br>LEI: 549300RNFXC8F8RT6R13 | Long             | LON              | CORP              | NL        |     39060 | PA      | $38971.59     | 0.01%             | 2026-07-21      | Floating      | 6.98%                 | No            |                  2 | On Loan: No      |
| ILIAD SA                                         | iliad SA                                                                         | CUSIP: 000000000<br>LEI: 969500FZ9BTRZS3JNB97 | Long             | DBT              | CORP              | FR        |    100000 | PA      | $108715.03    | 0.02%             | 2027-06-14      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| ALTICE FINANCING SA                              | Altice Financing SA                                                              | CUSIP: 02154CAH6<br>LEI: 549300DIYGW8HVDF7Q17 | Long             | DBT              | CORP              | LU        |   1578000 | PA      | $1325370.94   | 0.23%             | 2029-08-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| MASONITE INTERNATIONAL C                         | Masonite International Corp                                                      | CUSIP: 575385AE9<br>LEI: 549300H0H07ZFT4JYM32 | Long             | DBT              | CORP              | CA        |    273000 | PA      | $225341.73    | 0.04%             | 2030-02-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| CENTENE CORP                                     | Centene Corp                                                                     | CUSIP: 15135BAZ4<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |    344000 | PA      | $281721.01    | 0.05%             | 2031-08-01      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| Southwick Park CLO, Ltd.                         | Southwick Park CLO LLC                                                           | CUSIP: 846031AN2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $247000.00    | 0.04%             | 2032-07-20      | Floating      | 5.87%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                             | RRP AMERICAN EX                                                                  | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |   -717925 | PA      | $-717925.00   | -0.13%            |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae                                       | Fannie Mae Pool                                                                  | CUSIP: 3140FXDJ8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   5228742 | PA      | $5152932.91   | 0.90%             | 2056-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DANAOS CORP                                      | Danaos Corp                                                                      | CUSIP: 23585WAA2<br>LEI: 734IM3DNDNT36T7YTD24 | Long             | DBT              | CORP              | MH        |    100000 | PA      | $95830.35     | 0.02%             | 2028-03-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK SA | RRP PERU (REPUB                                                                  | CUSIP: 000000000<br>LEI: 1VUV7VQFKUOQSJ21A208 | Short            | RA               | CORP              | US        |   -184361 | PA      | $-184361.25   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| BLACKSTONE PRIVATE CRE                           | Blackstone Private Credit Fund                                                   | CUSIP: 09261HAY3<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |    103000 | PA      | $104438.99    | 0.02%             | 2025-09-29      | Fixed         | 7.05%                 | No            |                  2 | On Loan: No      |
| HERTZ CORP/THE                                   | Hertz Corp/The                                                                   | CUSIP: 428040DA4<br>LEI: 549300PD0C69OJ0NLB27 | Long             | DBT              | CORP              | US        |    161000 | PA      | $143290.00    | 0.03%             | 2026-12-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| NABORS INDUSTRIES LTD                            | Nabors Industries Ltd                                                            | CUSIP: 629571AB6<br>LEI: 5493008TXYN3II3PU369 | Long             | DBT              | CORP              | BM        |    319000 | PA      | $304073.99    | 0.05%             | 2028-01-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                         | Vistra Operations Co LLC                                                         | CUSIP: 92840VAH5<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    191000 | PA      | $167954.56    | 0.03%             | 2029-05-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                         | Occidental Petroleum Corp                                                        | CUSIP: 674599DF9<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    457000 | PA      | $480594.91    | 0.08%             | 2036-09-15      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| NGPL PipeCo LLC                                  | NGPL PipeCo LLC                                                                  | CUSIP: 62912XAC8<br>LEI: 549300K3NT1HSQFEM073 | Long             | DBT              | CORP              | US        |    270000 | PA      | $302986.58    | 0.05%             | 2037-12-15      | Fixed         | 7.77%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                      | RRP FHLMC 30YR                                                                   | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -164288 | PA      | $-164288.19   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                          | RRP MPT OPERATI                                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -297412 | PA      | $-297412.50   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| TRANSURBAN FINANCE CO                            | Transurban Finance Co Pty Ltd                                                    | CUSIP: 89400PAE3<br>LEI: 54930081LPJMUMEA6E57 | Long             | DBT              | CORP              | AU        |    520000 | PA      | $505366.31    | 0.09%             | 2026-02-02      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| BCPE EMPIRE HOLDINGS INC                         | BCPE Empire Holdings Inc                                                         | CUSIP: 05552VAA0<br>LEI: 549300O2G0VI2955B626 | Long             | DBT              | CORP              | US        |    261000 | PA      | $244499.58    | 0.04%             | 2027-05-01      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| Countrywide Asset-Backed Certificates            | CWABS Asset-Backed Certificates Trust 2006-25                                    | CUSIP: 12668HAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    535751 | PA      | $493214.99    | 0.09%             | 2037-06-25      | Floating      | 4.65%                 | No            |                  2 | On Loan: No      |
| CHENIERE ENERGY PARTNERS                         | Cheniere Energy Partners LP                                                      | CUSIP: 16411QAN1<br>LEI: 5493005UEC8AZ34LDV29 | Long             | DBT              | CORP              | US        |    811000 | PA      | $677047.13    | 0.12%             | 2032-01-31      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP ZAYO GROUP                                                                   | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |  -1003950 | PA      | $-1003950.00  | -0.18%            |  |  |  | No            |                  2 | On Loan: No      |
| ANGI GROUP LLC                                   | ANGI Group LLC                                                                   | CUSIP: 001846AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    340000 | PA      | $260620.20    | 0.05%             | 2028-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Countrywide Alternative Loan Trust               | Alternative Loan Trust 2007-12T1                                                 | CUSIP: 02150LBG1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3374804 | PA      | $1611161.69   | 0.28%             | 2037-06-25      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| LIGADO NETWORKS LLC                              | Ligado Networks LLC                                                              | CUSIP: 53225HAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    312749 | PA      | $107906.60    | 0.02%             | 2023-11-01      | Fixed         | 15.50%                | No            |                  2 | On Loan: No      |
| Morgan Stanley                                   | Morgan Stanley                                                                   | CUSIP: 61763E207<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |    100000 | NS      | $2522000.00   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| CABLEVISION LIGHTPATH                            | Cablevision Lightpath LLC                                                        | CUSIP: 12687GAA7<br>LEI: 5493002ZVBLRLGES1R71 | Long             | DBT              | CORP              | US        |    418000 | PA      | $355291.56    | 0.06%             | 2027-09-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| GLOBAL PAYMENTS INC                              | Global Payments Inc                                                              | CUSIP: 37940XAQ5<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |    317000 | PA      | $318029.96    | 0.06%             | 2032-08-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                 | COLT 2020-3 Mortgage Loan Trust                                                  | CUSIP: 12597QAD8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2850000 | PA      | $2591305.79   | 0.45%             | 2065-04-27      | Variable      | 3.36%                 | No            |                  2 | On Loan: No      |
| SCOTTS MIRACLE-GRO CO                            | Scotts Miracle-Gro Co/The                                                        | CUSIP: 810186AW6<br>LEI: 2TH9E0JTOUXOEGI2R879 | Long             | DBT              | CORP              | US        |     34000 | PA      | $27714.08     | 0.00%             | 2032-02-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                       | Fannie Mae Pool                                                                  | CUSIP: 3140XAUR1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1666301 | PA      | $1650622.81   | 0.29%             | 2049-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TITAN ACQ/CO-BORROWER                            | Titan Acquisition Ltd / Titan Co-Borrower LLC                                    | CUSIP: 88827AAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |   1241000 | PA      | $1173861.90   | 0.21%             | 2026-04-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP SIRIUS XM R                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -410250 | PA      | $-410250.00   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| LIVE NATION ENTERTAINMEN                         | Live Nation Entertainment Inc                                                    | CUSIP: 538034AK5<br>LEI: 5493007B9BM9ZXJINO78 | Long             | DBT              | CORP              | US        |     40000 | PA      | $38846.13     | 0.01%             | 2024-11-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                    | Carnival Corp                                                                    | CUSIP: 143658BN1<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |   1132000 | PA      | $939560.00    | 0.16%             | 2027-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| SAUDI INTERNATIONAL BOND                         | Saudi Government International Bond                                              | CUSIP: 80413TAK5<br>LEI: 635400FMICXSM3SI3H65 | Long             | DBT              | NUSS              | SA        |    200000 | PA      | $200000.00    | 0.04%             | 2029-04-16      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| CDW LLC/CDW FINANCE                              | CDW LLC / CDW Finance Corp                                                       | CUSIP: 12513GBH1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    169000 | PA      | $148523.12    | 0.03%             | 2028-12-01      | Fixed         | 3.28%                 | No            |                  2 | On Loan: No      |
| DISH DBS Corp                                    | DISH DBS Corp                                                                    | CUSIP: 25470XAY1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1070000 | PA      | $869011.20    | 0.15%             | 2026-07-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| TD SECURITIES USA LLC                            | RRP ENERGY TRAN                                                                  | CUSIP: 000000000<br>LEI: SUVUFHICNZMP2WKHG940 | Short            | RA               | CORP              | US        |   -227100 | PA      | $-227100.00   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| MAUSER PACKNG SOL HLDG COMP                      | MAUSER PACKNG SOL HLDG COMP                                                      | CUSIP: 000000000<br>LEI: 549300DNGHXL0OMHW304 | Long             | LON              | CORP              | US        |    176000 | PA      | $174240.00    | 0.03%             | 2026-08-31      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| GFL ENVIRONMENTAL INC                            | GFL Environmental Inc                                                            | CUSIP: 36168QAK0<br>LEI: 549300FYK4MBXWIVZU26 | Long             | DBT              | CORP              | CA        |    176000 | PA      | $167244.00    | 0.03%             | 2025-08-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| ADVANCED DRAINAGE SYSTEM                         | Advanced Drainage Systems Inc                                                    | CUSIP: 00790RAA2<br>LEI: 6QQTOZ5MF5DHM7K92I60 | Long             | DBT              | CORP              | US        |    259000 | PA      | $246533.94    | 0.04%             | 2027-09-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NOMURA SECURITIES INTERNATIONAL INC              | RRP VISTRA OPER                                                                  | CUSIP: 000000000<br>LEI: OXTKY6Q8X53C9ILVV871 | Short            | RA               | CORP              | US        |   -236220 | PA      | $-236220.00   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| NESCO HOLDINGS II INC                            | NESCO Holdings II Inc                                                            | CUSIP: 64083YAA9<br>LEI: 254900FAHT0HW9T6L409 | Long             | DBT              | CORP              | US        |    305000 | PA      | $273923.55    | 0.05%             | 2029-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP ZIGGO BOND                                                                   | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -459360 | PA      | $-459360.00   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| GLOBAL PAYMENTS INC                              | Global Payments Inc                                                              | CUSIP: 37940XAB8<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |    736000 | PA      | $653662.92    | 0.11%             | 2029-08-15      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| NFP CORP                                         | NFP Corp                                                                         | CUSIP: 65342RAD2<br>LEI: VO2L9FZNXDJNQNEYH039 | Long             | DBT              | CORP              | US        |   2267000 | PA      | $1960184.22   | 0.34%             | 2028-08-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| UNITED AIRLINES INC                              | United Airlines Inc                                                              | CUSIP: 90932LAH0<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | DBT              | CORP              | US        |    877000 | PA      | $799920.66    | 0.14%             | 2029-04-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| NORTHERN TRUST CORP                              | Northern Trust Corp                                                              | CUSIP: 665859AX2<br>LEI: 549300GLF98S992BC502 | Long             | DBT              | CORP              | US        |    300000 | PA      | $329845.83    | 0.06%             | 2032-11-02      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| RAYMOND JAMES FINANCIAL                          | Raymond James Financial Inc                                                      | CUSIP: 754730AF6<br>LEI: RGUZHJ05YTITL6D76949 | Long             | DBT              | CORP              | US        |    400000 | PA      | $385651.28    | 0.07%             | 2046-07-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| UBER TECHNOLOGIES INC                            | Uber Technologies Inc                                                            | CUSIP: 90353TAG5<br>LEI: 549300B2FTG34FILDR98 | Long             | DBT              | CORP              | US        |    366000 | PA      | $358119.11    | 0.06%             | 2028-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| JP MORGAN SECURITIES LLC                         | RRP CLEARWAY EN                                                                  | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | Short            | RA               | CORP              | US        |    -83375 | PA      | $-83375.00    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Octagon Investment Partners XXII Ltd             | Octagon Investment Partners XXII Ltd                                             | CUSIP: 67572YBW1<br>LEI: 549300MQ9W5DWZ8QX450 | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $461843.45    | 0.08%             | 2030-01-22      | Floating      | 7.57%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                      | RRP REYNOLDS AM                                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -598812 | PA      | $-598812.50   | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust            | Wells Fargo Commercial Mortgage Trust 2016-LC25                                  | CUSIP: 95000JAV0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1600000 | PA      | $1530176.48   | 0.27%             | 2059-12-15      | Fixed         | 3.64%                 | No            |                  2 | On Loan: No      |
| SM ENERGY CO                                     | SM Energy Co                                                                     | CUSIP: 78454LAW0<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |    130000 | PA      | $123658.54    | 0.02%             | 2028-07-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ANGLOGOLD HOLDINGS PLC                           | AngloGold Ashanti Holdings PLC                                                   | CUSIP: 03512TAE1<br>LEI: 213800745ZIXC4L6A131 | Long             | DBT              | CORP              | IM        |    400000 | PA      | $354000.00    | 0.06%             | 2030-10-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| SEALED AIR CORP                                  | Sealed Air Corp                                                                  | CUSIP: 000000000<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | DBT              | CORP              | US        |    194000 | PA      | $195726.60    | 0.03%             | 2028-02-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| REGAL REXNORD CORP                               | Regal Rexnord Corp                                                               | CUSIP: 758750AE3<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | DBT              | CORP              | US        |    265000 | PA      | $270210.70    | 0.05%             | 2030-02-15      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| GOODYEAR TIRE & RUBBER                           | Goodyear Tire & Rubber Co/The                                                    | CUSIP: 382550BK6<br>LEI: 5493002BI0S2ZQUY3437 | Long             | DBT              | CORP              | US        |    137000 | PA      | $117135.00    | 0.02%             | 2033-04-30      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| TEVA PHARMACEUTICAL INDU                         | Teva Pharmaceutical Finance Netherlands III BV                                   | CUSIP: 88167AAP6<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $184625.00    | 0.03%             | 2027-05-09      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| KRAFT HEINZ FOODS CO                             | Kraft Heinz Foods Co                                                             | CUSIP: 50077LAZ9<br>LEI: 5493003STKEZ2S0RNU91 | Long             | DBT              | CORP              | US        |     84000 | PA      | $78565.61     | 0.01%             | 2049-10-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Countrywide Alternative Loan Trust               | Alternative Loan Trust 2007-22                                                   | CUSIP: 02151BBG2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   7071616 | PA      | $3003834.30   | 0.53%             | 2037-09-25      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CREDIT SUISSE INTERNATIONAL                      | SWAP/CDSWAP/SCDS: (CMACG)                                                        | CUSIP: 000000000<br>LEI: E58DKGMJYYYJLN8C3868 | N/A              | DCR              |  | XX        |     37500 | OU      | $4129.19      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Whetstone Park CLO Ltd                           | Whetstone Park CLO Ltd                                                           | CUSIP: 96329YAC1<br>LEI: 549300M54M5QSBMB3780 | Long             | ABS-CBDO         | CORP              | KY        |    275000 | PA      | $267464.01    | 0.05%             | 2035-01-20      | Floating      | 6.41%                 | No            |                  2 | On Loan: No      |
| JP MORGAN SECURITIES LLC                         | RRP MILEAGE PLU                                                                  | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | Short            | RA               | CORP              | US        |  -1227016 | PA      | $-1227015.63  | -0.21%            |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae                                       | Fannie Mae Pool                                                                  | CUSIP: 3140FXCK6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   6951142 | PA      | $7053747.00   | 1.23%             | 2055-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Intercontinental Exchange, Inc.                  | ICE: (CDX.NA.IG.39.V1)                                                           | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              |  | US        |  30240000 | OU      | $-415524.96   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP WYNN RESORT                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -544390 | PA      | $-544390.00   | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| Bayview Commercial Asset Trust                   | Bayview Commercial Asset Trust 2007-2                                            | CUSIP: 07325XAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1428881 | PA      | $1272250.62   | 0.22%             | 2037-07-25      | Floating      | 4.78%                 | No            |                  2 | On Loan: No      |
| BROWN GROUP HOLDING, LLC                         | Brown Group Holding, LLC 2022 Incremental Term Loan B2                           | CUSIP: 11565HAD8<br>LEI: 25490094PF4HHK9QS109 | Long             | LON              | CORP              | US        |    266654 | PA      | $266470.51    | 0.05%             | 2029-07-02      | Variable      | 8.43%                 | No            |                  2 | On Loan: No      |
| MARVELL TECHNOLOGY INC                           | Marvell Technology Inc                                                           | CUSIP: 573874AJ3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    399000 | PA      | $337299.37    | 0.06%             | 2031-04-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| GREYSTAR REAL ESTATE PAR                         | Greystar Real Estate Partners LLC                                                | CUSIP: 39807UAB2<br>LEI: 254900HGC806SXAS4M46 | Long             | DBT              | CORP              | US        |    120000 | PA      | $118011.60    | 0.02%             | 2025-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| JP MORGAN SECURITIES LLC                         | RRP HSBC HOLDIN                                                                  | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | Short            | RA               | CORP              | US        |   -344100 | PA      | $-344100.00   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| General Motors Co                                | General Motors Co                                                                | CUSIP: 37045VAF7<br>LEI: 54930070NSV60J38I987 | Long             | DBT              | CORP              | US        |   2194000 | PA      | $2183253.61   | 0.38%             | 2043-10-02      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                          | Frontier Communications Holdings LLC                                             | CUSIP: 35906ABE7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    341000 | PA      | $325627.72    | 0.06%             | 2027-10-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CAMELOT FINANCE SA                               | Camelot Finance SA                                                               | CUSIP: 13323AAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    524000 | PA      | $498392.12    | 0.09%             | 2026-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| SMYRNA READY MIX CONCRET                         | Smyrna Ready Mix Concrete LLC                                                    | CUSIP: 85236FAA1<br>LEI: 549300S7RFWHQFOIOY93 | Long             | DBT              | CORP              | US        |    731000 | PA      | $667417.62    | 0.12%             | 2028-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                            | Tenet Healthcare Corp                                                            | CUSIP: 88033GCZ1<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    768000 | PA      | $748008.96    | 0.13%             | 2026-01-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| SINIC HOLDINGS GROUP CO                          | Sinic Holdings Group Co Ltd                                                      | CUSIP: 000000000<br>LEI: 300300N5XRCGHA7P7B13 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $2000.00      | 0.00%             | 2022-06-18      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                          | RRP RAYMOND JAM                                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -366000 | PA      | $-366000.00   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| Countrywide Alternative Loan Trust               | Alternative Loan Trust 2005-9CB                                                  | CUSIP: 12667GEM1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1322131 | PA      | $1143763.64   | 0.20%             | 2035-05-25      | Floating      | 4.96%                 | No            |                  2 | On Loan: No      |
| MILEAGE PLUS HLDINGS LLC                         | Mileage Plus Holdings LLC / Mileage Plus Intellectual Property Assets Ltd        | CUSIP: 599191AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1361338 | PA      | $1375373.12   | 0.24%             | 2027-06-20      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| SABRE GLBL INC                                   | Sabre GLBL Inc                                                                   | CUSIP: 78573NAC6<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | DBT              | CORP              | US        |    229000 | PA      | $234943.70    | 0.04%             | 2025-04-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| FAURECIA                                         | Faurecia SE                                                                      | CUSIP: 000000000<br>LEI: 969500F0VMZLK2IULV85 | Long             | DBT              | CORP              | FR        |    100000 | PA      | $95821.43     | 0.02%             | 2028-06-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| TRIUMPH GROUP INC                                | Triumph Group Inc                                                                | CUSIP: 896818AS0<br>LEI: 5493007L6S47Q14SL582 | Long             | DBT              | CORP              | US        |   1019000 | PA      | $1034285.00   | 0.18%             | 2024-06-01      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| CREDIT SUISSE SECURITIES (USA) LLC               | RRP COMMSCOPE I                                                                  | CUSIP: 000000000<br>LEI: 1V8Y6QCX6YMJ2OELII46 | Short            | RA               | CORP              | US        |   -113975 | PA      | $-113975.00   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP FORD MOTOR                                                                   | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -290306 | PA      | $-290306.25   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| Galaxy CLO Ltd                                   | Galaxy Xxviii Clo Ltd                                                            | CUSIP: 36321JAC8<br>LEI: 549300QR0537E9AXFW42 | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $492134.80    | 0.09%             | 2031-07-15      | Floating      | 5.89%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                                 | CSC Holdings LLC                                                                 | CUSIP: 126307BH9<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |   1011000 | PA      | $744581.28    | 0.13%             | 2031-11-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| AIT Worldwide Logistics, Inc                     | AIT Worldwide Logistics, Inc 2021 Term Loan                                      | CUSIP: 00145AAB9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    142200 | PA      | $135267.75    | 0.02%             | 2028-04-06      | Floating      | 9.56%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                            | Tenet Healthcare Corp                                                            | CUSIP: 88033GDB3<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    459000 | PA      | $441787.50    | 0.08%             | 2027-11-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP CLEAR CHANN                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -562500 | PA      | $-562500.00   | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| Elmwood CLO IV Ltd                               | Elmwood CLO IV Ltd                                                               | CUSIP: 29002GAC5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $245444.68    | 0.04%             | 2033-04-15      | Floating      | 6.49%                 | No            |                  2 | On Loan: No      |
| JSW STEEL LTD                                    | JSW Steel Ltd                                                                    | CUSIP: 000000000<br>LEI: 335800EK6HZSC4CVAJ09 | Long             | DBT              | CORP              | IN        |    200000 | PA      | $197000.00    | 0.03%             | 2024-04-18      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| WEATHERFORD INTERNATIONA                         | Weatherford International Ltd                                                    | CUSIP: 947075AT4<br>LEI: 549300A2JKMG5PGOGF82 | Long             | DBT              | CORP              | BM        |    280000 | PA      | $278600.00    | 0.05%             | 2028-09-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| JBS USA/FOOD/FINANCE                             | JBS USA LUX SA / JBS USA Food Co / JBS USA Finance Inc                           | CUSIP: 46590XAC0<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    357000 | PA      | $301585.76    | 0.05%             | 2031-12-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                          | RRP BHP BILLITO                                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -209688 | PA      | $-209687.50   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| TD SECURITIES USA LLC                            | RRP OWL ROCK CA                                                                  | CUSIP: 000000000<br>LEI: SUVUFHICNZMP2WKHG940 | Short            | RA               | CORP              | US        |   -214498 | PA      | $-214497.50   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| ENTERPRISE PRODUCTS OPER                         | Enterprise Products Operating LLC                                                | CUSIP: 29379VBR3<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |    420000 | PA      | $351326.56    | 0.06%             | 2078-02-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES USA, INC.                        | RRP ORACLE CORP                                                                  | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | Short            | RA               | CORP              | US        |   -106350 | PA      | $-106350.00   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                               | Energy Transfer LP                                                               | CUSIP: 29273VAN0<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    894000 | PA      | $838464.72    | 0.15%             | 2026-11-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| IndyMac Residential Asset Backed Trust           | Home Equity Mortgage Loan Asset-Backed Trust Series INABS 2006-E                 | CUSIP: 43709XAE1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3459974 | PA      | $2420791.95   | 0.42%             | 2037-04-25      | Floating      | 4.68%                 | No            |                  2 | On Loan: No      |
| ENCOMPASS HEALTH CORP                            | Encompass Health Corp                                                            | CUSIP: 29261AAE0<br>LEI: 549300FVRPM9DRQZRG64 | Long             | DBT              | CORP              | US        |    270000 | PA      | $237652.72    | 0.04%             | 2031-04-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| VERITAS US INC/BERMUDA L                         | Veritas US Inc / Veritas Bermuda Ltd                                             | CUSIP: 92346LAE3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    372000 | PA      | $245410.00    | 0.04%             | 2025-09-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CNX MIDSTREAM PART LP                            | CNX Midstream Partners LP                                                        | CUSIP: 12654AAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    124000 | PA      | $104920.12    | 0.02%             | 2030-04-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                          | RRP ENERGY TRAN                                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -454375 | PA      | $-454375.00   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| CAESARS ENTERTAINMENT CORP                       | CAESARS ENTERTAINMENT CORP                                                       | CUSIP: 12768EAG1<br>LEI: 549300FA4CTCW903Y781 | Long             | LON              | CORP              | US        |    168000 | PA      | $167766.48    | 0.03%             | 2030-01-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BRF GMBH                                         | BRF GmbH                                                                         | CUSIP: 000000000<br>LEI: 5299002S6DY5RA2IOQ11 | Long             | DBT              | CORP              | AT        |    200000 | PA      | $182162.50    | 0.03%             | 2026-09-29      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| HUNGARY                                          | Hungary Government International Bond                                            | CUSIP: 445545AL0<br>LEI: 5299008DH62LEB10JK83 | Long             | DBT              | NUSS              | HU        |     64000 | PA      | $64112.00     | 0.01%             | 2024-03-25      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| SOUTHWESTERN ENERGY CO                           | Southwestern Energy Co                                                           | CUSIP: 845467AT6<br>LEI: EFWMP121W54QV9MGOP87 | Long             | DBT              | CORP              | US        |    206000 | PA      | $181593.12    | 0.03%             | 2032-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| RONSHINE CHINA                                   | Ronshine China Holdings Ltd                                                      | CUSIP: 000000000<br>LEI: 549300GNBBT32SFSEC47 | Long             | DBT              | CORP              | KY        |     23000 | PA      | $2817.50      | 0.00%             | 2023-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MADISON IAQ LLC                                  | Madison IAQ LLC                                                                  | CUSIP: 55760LAB3<br>LEI: 549300IXDNBXNHUPBU73 | Long             | DBT              | CORP              | US        |    447000 | PA      | $354578.28    | 0.06%             | 2029-06-30      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ENCOMPASS HEALTH CORP                            | Encompass Health Corp                                                            | CUSIP: 29261AAA8<br>LEI: 549300FVRPM9DRQZRG64 | Long             | DBT              | CORP              | US        |     20000 | PA      | $18669.00     | 0.00%             | 2028-02-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                            | Wells Fargo & Co                                                                 | CUSIP: 949746RG8<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   8800000 | PA      | $8613000.00   | 1.51%             | 2024-06-15      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                          | RRP DISCOVERY C                                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -308000 | PA      | $-308000.00   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| Lehman Brothers Small Balance Commercial         | Lehman Brothers Small Balance Commercial Mortgage Trust 2006-1                   | CUSIP: 86359DZP5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    425514 | PA      | $420790.72    | 0.07%             | 2031-04-25      | Floating      | 5.51%                 | No            |                  2 | On Loan: No      |
| TD SECURITIES USA LLC                            | RRP PLAINS ALL                                                                   | CUSIP: 000000000<br>LEI: SUVUFHICNZMP2WKHG940 | Short            | RA               | CORP              | US        |   -181316 | PA      | $-181316.25   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| ABC SUPPLY CO INC                                | American Builders & Contractors Supply Co Inc                                    | CUSIP: 024747AF4<br>LEI: 549300H5GQ4C1BEKG397 | Long             | DBT              | CORP              | US        |     78000 | PA      | $71063.46     | 0.01%             | 2028-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP SIRIUS XM R                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -300931 | PA      | $-300931.25   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| SIRIUS XM RADIO INC                              | Sirius XM Radio Inc                                                              | CUSIP: 82967NBJ6<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |    445000 | PA      | $396094.50    | 0.07%             | 2028-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GARTNER INC                                      | Gartner Inc                                                                      | CUSIP: 366651AC1<br>LEI: PP55B5R38BFB8O8HH686 | Long             | DBT              | CORP              | US        |     15000 | PA      | $14249.85     | 0.00%             | 2028-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                | ILLINOIS ST                                                                      | CUSIP: 452151LF8<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    800000 | PA      | $794057.60    | 0.14%             | 2033-06-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Ajax Mortgage Loan Trust                         | Ajax Mortgage Loan Trust 2017-D                                                  | CUSIP: 00968BAB1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     19747 | PA      | $11978.57     | 0.00%             | 2057-12-25      | Variable      | 0.00%                 | No            |                  3 | On Loan: No      |
| Countrywide Home Loans                           | CHL Mortgage Pass-Through Trust 2007-J2                                          | CUSIP: 12545EAB2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2655428 | PA      | $699653.72    | 0.12%             | 2037-07-25      | Floating      | 5.16%                 | No            |                  2 | On Loan: No      |
| OPTION CARE HEALTH INC                           | Option Care Health Inc                                                           | CUSIP: 68404LAA0<br>LEI: 549300DI3Q5ACSYJRI17 | Long             | DBT              | CORP              | US        |    314000 | PA      | $271240.03    | 0.05%             | 2029-10-31      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                      | RRP IQVIA INC 5                                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -454960 | PA      | $-454960.00   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| Envision Healthcare Corporation                  | Envision Healthcare Corporation 2022 First Out Term Loan                         | CUSIP: 29373UAE1<br>LEI: 549300OL60X0LPKY8N60 | Long             | LON              | CORP              | US        |     77544 | PA      | $67657.42     | 0.01%             | 2027-03-31      | Variable      | 12.61%                | No            |                  2 | On Loan: No      |
| American Airlines, Inc.                          | American Airlines, Inc. 2021 Term Loan                                           | CUSIP: 02376CBJ3<br>LEI: IWUQB36BXD6OWD6X4T14 | Long             | LON              | CORP              | KY        |    748062 | PA      | $767578.94    | 0.13%             | 2028-04-20      | Floating      | 9.56%                 | No            |                  2 | On Loan: No      |
| MATCH GROUP HLD II LLC                           | Match Group Holdings II LLC                                                      | CUSIP: 57665RAJ5<br>LEI: 5493003RFFE030RC9167 | Long             | DBT              | CORP              | US        |    209000 | PA      | $196482.33    | 0.03%             | 2029-02-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| CATALENT PHARMA SOLUTION                         | Catalent Pharma Solutions Inc                                                    | CUSIP: 14879EAK4<br>LEI: 549300HALRZ339MSTH85 | Long             | DBT              | CORP              | US        |    479000 | PA      | $395773.75    | 0.07%             | 2030-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP W R GRACE H                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -320000 | PA      | $-320000.00   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| CENTRAL GARDEN & PET CO                          | Central Garden & Pet Co                                                          | CUSIP: 153527AP1<br>LEI: 5493004DVZLD37DJ0H83 | Long             | DBT              | CORP              | US        |    224000 | PA      | $187903.52    | 0.03%             | 2031-04-30      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                        | Uniform Mortgage-Backed Security, TBA                                            | CUSIP: 01F050627<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |  11000000 | PA      | $11040390.57  | 1.93%             | 2053-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LCPR SR SECURED FIN DAC                          | LCPR Senior Secured Financing DAC                                                | CUSIP: 50201DAA1<br>LEI: 549300LE5FM8IKMXSP90 | Long             | DBT              | CORP              | IE        |    180000 | PA      | $175374.00    | 0.03%             | 2027-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CommScope Inc                                    | CommScope Inc                                                                    | CUSIP: 20338QAA1<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |    222000 | PA      | $188822.10    | 0.03%             | 2027-03-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| HERTZ CORP/THE                                   | Hertz Corp/The                                                                   | CUSIP: 428040DB2<br>LEI: 549300PD0C69OJ0NLB27 | Long             | DBT              | CORP              | US        |    130000 | PA      | $106275.00    | 0.02%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association         | Government National Mortgage Association                                         | CUSIP: 38380HHT2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    636232 | PA      | $595979.88    | 0.10%             | 2047-03-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                               | Dominican Republic International Bond                                            | CUSIP: 000000000<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |    523000 | PA      | $521136.81    | 0.09%             | 2027-01-25      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| RYAN SPECIALTY GROUP                             | Ryan Specialty Group LLC                                                         | CUSIP: 78351MAA0<br>LEI: 549300K52N7QBO3PYY45 | Long             | DBT              | CORP              | US        |    173000 | PA      | $155916.25    | 0.03%             | 2030-02-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                       | Fannie Mae Pool                                                                  | CUSIP: 3140JHX81<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     32873 | PA      | $33086.60     | 0.01%             | 2048-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage Trust               | Ellington Financial Mortgage Trust 2020-1                                        | CUSIP: 31574PAD7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $477551.15    | 0.08%             | 2065-05-25      | Variable      | 5.24%                 | No            |                  2 | On Loan: No      |
| Neuberger Berman CLO Ltd                         | Neuberger Berman Loan Advisers NBLA CLO 52 Ltd                                   | CUSIP: 64135EAA1<br>LEI: 5493008RV69QDGFCMY47 | Long             | ABS-CBDO         | CORP              | JE        |    250000 | PA      | $245000.00    | 0.04%             | 2035-10-24      | Floating      | 13.39%                | No            |                  3 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP ORGANON C                                                                    | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -363140 | PA      | $-363140.00   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| IVORY COAST                                      | Ivory Coast Government International Bond                                        | CUSIP: 000000000<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |    731000 | PA      | $707242.50    | 0.12%             | 2028-03-03      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                | RRP HSBC HOLDIN                                                                  | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Short            | RA               | CORP              | US        |   -160712 | PA      | $-160712.50   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                | RRP PANAMA REPU                                                                  | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Short            | RA               | CORP              | US        |   -667800 | PA      | $-667800.00   | -0.12%            |  |  |  | No            |                  2 | On Loan: No      |
| MILLICOM INTL CELLULAR                           | Millicom International Cellular SA                                               | CUSIP: 000000000<br>LEI: 549300CTHC1CP86P2G96 | Long             | DBT              | CORP              | LU        |    282600 | PA      | $252361.80    | 0.04%             | 2028-01-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| COVANTA HOLDING CORP                             | Covanta Holding Corp                                                             | CUSIP: 22303XAA3<br>LEI: 40XIFLS8XDQGGHGPGC04 | Long             | DBT              | CORP              | US        |    181000 | PA      | $158148.75    | 0.03%             | 2029-12-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| CAESARS ENTERTAIN INC                            | Caesars Entertainment Inc                                                        | CUSIP: 28470RAH5<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |   1300000 | PA      | $1294992.40   | 0.23%             | 2025-07-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| NOMURA SECURITIES INTERNATIONAL INC              | RRP BOMBARDIER                                                                   | CUSIP: 000000000<br>LEI: OXTKY6Q8X53C9ILVV871 | Short            | RA               | CORP              | US        |   -869586 | PA      | $-869586.25   | -0.15%            |  |  |  | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                          | Royal Caribbean Cruises Ltd                                                      | CUSIP: 780153BH4<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |     92000 | PA      | $79810.00     | 0.01%             | 2026-07-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| DEALER TIRE LLC/DT ISSR                          | Dealer Tire LLC / DT Issuer LLC                                                  | CUSIP: 24229JAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    231000 | PA      | $212709.60    | 0.04%             | 2028-02-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| MERLIN ENTERTAINMENTS                            | Merlin Entertainments Ltd                                                        | CUSIP: 59010QAB2<br>LEI: 549300ZTI0VEFO6WV007 | Long             | DBT              | CORP              | GB        |    400000 | PA      | $380841.79    | 0.07%             | 2026-06-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| TELECOM ITALIA SPA                               | Telecom Italia SpA/Milano                                                        | CUSIP: 87927YAA0<br>LEI: 549300W384M3RI3VXU42 | Long             | DBT              | CORP              | IT        |    202000 | PA      | $195982.42    | 0.03%             | 2024-05-30      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| YUM! BRANDS INC                                  | Yum! Brands Inc                                                                  | CUSIP: 988498AN1<br>LEI: 549300JE8XHZZ7OHN517 | Long             | DBT              | CORP              | US        |    123000 | PA      | $104848.64    | 0.02%             | 2031-03-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| ASG FINANCE DESIGNATED                           | ASG Finance Designated Activity Co                                               | CUSIP: 00217AAA4<br>LEI: 5493005UOB0OMEJ4WK10 | Long             | DBT              | CORP              | IE        |    262000 | PA      | $254140.00    | 0.04%             | 2024-12-03      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| ALBERTSONS COS/SAFEWAY                           | Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC            | CUSIP: 013092AE1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    281000 | PA      | $258473.96    | 0.05%             | 2030-02-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                      | RRP FNMA 15YR F                                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |  -1337581 | PA      | $-1337581.06  | -0.23%            |  |  |  | No            |                  2 | On Loan: No      |
| Clydesdale Acquisition Holdings Inc              | Clydesdale Acquisition Holdings Inc Term Loan B                                  | CUSIP: 18972FAC6<br>LEI: 254900QKSDYFR3K5YD98 | Long             | LON              | CORP              | US        |         0 | PA      | $0.00         | 0.00%             | 2029-04-13      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Trestles CLO LTD                                 | Trestles Clo IV Ltd                                                              | CUSIP: 89532WAC3<br>LEI: 254900EO5I6CR0IOWS98 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $971156.40    | 0.17%             | 2034-07-21      | Floating      | 6.52%                 | No            |                  2 | On Loan: No      |
| ALPEK SA DE CV                                   | Alpek SAB de CV                                                                  | CUSIP: 020564AE0<br>LEI: 549300PWKJTP62D4IQ66 | Long             | DBT              | CORP              | MX        |    285000 | PA      | $237405.00    | 0.04%             | 2031-02-25      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Corning Inc                                      | Corning Inc                                                                      | CUSIP: 219350BF1<br>LEI: 549300X2937PB0CJ7I56 | Long             | DBT              | CORP              | US        |   1915000 | PA      | $1648033.93   | 0.29%             | 2057-11-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| MOLINA HEALTHCARE INC                            | Molina Healthcare Inc                                                            | CUSIP: 60855RAK6<br>LEI: 549300NQQCEQ46YHZ591 | Long             | DBT              | CORP              | US        |    321000 | PA      | $276101.73    | 0.05%             | 2030-11-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                          | RRP GLOBAL PAYM                                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -125125 | PA      | $-125125.00   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                      | RRP FNMA 30YR U                                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |  -1586792 | PA      | $-1586792.33  | -0.28%            |  |  |  | No            |                  2 | On Loan: No      |
| ILIAD HOLDING SAS                                | Iliad Holding SASU                                                               | CUSIP: 000000000<br>LEI: 9695009PXA7OI9NXN582 | Long             | DBT              | CORP              | FR        |    100000 | PA      | $101104.98    | 0.02%             | 2028-10-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| CORELOGIC INC                                    | CoreLogic Inc                                                                    | CUSIP: 21871DAD5<br>LEI: 54930086CD8K2UIL0516 | Long             | DBT              | CORP              | US        |    657000 | PA      | $522315.00    | 0.09%             | 2028-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK SA | RRP VERIZON COM                                                                  | CUSIP: 000000000<br>LEI: 1VUV7VQFKUOQSJ21A208 | Short            | RA               | CORP              | US        |   -800000 | PA      | $-800000.00   | -0.14%            |  |  |  | No            |                  2 | On Loan: No      |
| NOVELIS CORP                                     | Novelis Corp                                                                     | CUSIP: 670001AG1<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |    835000 | PA      | $755942.20    | 0.13%             | 2026-11-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| CHEPLAPHARM ARZNEIMITTEL                         | Cheplapharm Arzneimittel GmbH                                                    | CUSIP: 000000000<br>LEI: 529900ONXKBELT7EW052 | Long             | DBT              | CORP              | DE        |    100000 | PA      | $97789.17     | 0.02%             | 2027-02-11      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| MC BRAZIL DWNSTRM                                | MC Brazil Downstream Trading SARL                                                | CUSIP: 55292WAA8<br>LEI: 213800T2A7R9TYNXZI63 | Long             | DBT              | CORP              | LU        |    320000 | PA      | $279104.00    | 0.05%             | 2031-06-30      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| VERISURE HOLDING AB                              | Verisure Holding AB                                                              | CUSIP: 000000000<br>LEI: 549300VQQCWGISM3N408 | Long             | DBT              | CORP              | SE        |    100000 | PA      | $95945.36     | 0.02%             | 2027-02-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| LIBERTY BROADBAND CORP                           | Liberty Broadband Corp                                                           | CUSIP: 530307AC1<br>LEI: 549300MIX43II8JLN536 | Long             | DBT              | CORP              | US        |    528000 | PA      | $508860.00    | 0.09%             | 2050-09-30      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                        | Uniform Mortgage-Backed Security, TBA                                            | CUSIP: 01F032633<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   2500000 | PA      | $2344869.45   | 0.41%             | 2053-03-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Veritas US Inc.                                  | Veritas US Inc. 2021 USD Term Loan B                                             | CUSIP: 000000000<br>LEI: 549300RFUWCPWS8FQ104 | Long             | LON              | CORP              | US        |    287754 | PA      | $194593.49    | 0.03%             | 2025-09-01      | Floating      | 9.73%                 | No            |                  2 | On Loan: No      |
| HILTON DOMESTIC OPERATIN                         | Hilton Domestic Operating Co Inc                                                 | CUSIP: 432833AN1<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |     20000 | PA      | $16795.00     | 0.00%             | 2032-02-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                             | RRP MICROSTRATE                                                                  | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |   -263294 | PA      | $-263293.75   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| SEALED AIR CORP                                  | Sealed Air Corp                                                                  | CUSIP: 81211KAY6<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | DBT              | CORP              | US        |     92000 | PA      | $85104.60     | 0.01%             | 2027-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                      | RRP CENTURYLINK                                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -468000 | PA      | $-468000.00   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| USA COM PART/USA COM FIN                         | USA Compression Partners LP / USA Compression Finance Corp                       | CUSIP: 91740PAF5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    657000 | PA      | $637290.00    | 0.11%             | 2027-09-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| AZURE POWER SOLAR ENERGY                         | Azure Power Solar Energy Pvt Ltd                                                 | CUSIP: 000000000<br>LEI: 549300N77HEXIINE3X94 | Long             | DBT              | CORP              | MU        |    200000 | PA      | $167000.00    | 0.03%             | 2024-12-24      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| JP MORGAN SECURITIES LLC                         | RRP ARCONIC ROL                                                                  | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | Short            | RA               | CORP              | US        |   -364170 | PA      | $-364170.00   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                                 | CSC Holdings LLC                                                                 | CUSIP: 126307BB2<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |   1135000 | PA      | $839071.45    | 0.15%             | 2030-12-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| FANTASIA HOLDINGS GROUP                          | Fantasia Holdings Group Co Ltd                                                   | CUSIP: 000000000<br>LEI: 5493005JQNLB3I01JW62 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $34500.00     | 0.01%             | 2022-10-18      | Fixed         | 12.25%                | No            |                  2 | On Loan: No      |
| TD SECURITIES USA LLC                            | RRP ONEOK INC 4                                                                  | CUSIP: 000000000<br>LEI: SUVUFHICNZMP2WKHG940 | Short            | RA               | CORP              | US        |   -334431 | PA      | $-334431.25   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| Delta TopCo, Inc.                                | Delta TopCo, Inc. 2020 Term Loan B                                               | CUSIP: 24780DAC1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    311194 | PA      | $288187.72    | 0.05%             | 2027-12-01      | Floating      | 8.15%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp                                  | CVS Health Corp                                                                  | CUSIP: 126650CZ1<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |   1110000 | PA      | $1055296.49   | 0.18%             | 2048-03-25      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| GENESIS ENERGY LP/FIN                            | Genesis Energy LP / Genesis Energy Finance Corp                                  | CUSIP: 37185LAL6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    204000 | PA      | $197141.52    | 0.03%             | 2028-02-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| SURGERY CENTER HOLDINGS                          | Surgery Center Holdings Inc                                                      | CUSIP: 86881WAD4<br>LEI: 54930054EVI5HWPPW113 | Long             | DBT              | CORP              | US        |    457000 | PA      | $466132.48    | 0.08%             | 2027-04-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| TEVA PHARMACEUTICALS NE                          | Teva Pharmaceutical Finance Netherlands III BV                                   | CUSIP: 88167AAK7<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $200674.00    | 0.04%             | 2028-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Bear Stearns Asset Backed Securities Trust       | Bear Stearns Asset Backed Securities I Trust 2006-HE9                            | CUSIP: 07389MAD9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1113662 | PA      | $1076140.66   | 0.19%             | 2036-11-25      | Floating      | 4.65%                 | No            |                  2 | On Loan: No      |
| DISH DBS CORP                                    | DISH DBS Corp                                                                    | CUSIP: 25470XBE4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1693000 | PA      | $1459154.38   | 0.26%             | 2026-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| OMAN GOV INTERNTL BOND                           | Oman Government International Bond                                               | CUSIP: 000000000<br>LEI: 549300SZ20F0QTKNQC75 | Long             | DBT              | NUSS              | OM        |    309000 | PA      | $294708.75    | 0.05%             | 2047-03-08      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| SRS DISTRIBUTION INC                             | SRS Distribution Inc                                                             | CUSIP: 78471RAD8<br>LEI: 549300ZQ3XP75BCYM468 | Long             | DBT              | CORP              | US        |    503000 | PA      | $429692.78    | 0.08%             | 2029-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Countrywide Alternative Loan Trust               | Alternative Loan Trust 2007-19                                                   | CUSIP: 02151AAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    546428 | PA      | $285359.88    | 0.05%             | 2037-08-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Octagon Investment Partners XVII LTD             | Octagon Investment Partners XVII Ltd                                             | CUSIP: 67590GBL2<br>LEI: 54930007Y57X4ONHQV20 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $243690.55    | 0.04%             | 2031-01-25      | Floating      | 6.22%                 | No            |                  2 | On Loan: No      |
| WAMU Asset-Backed Certificates                   | WaMu Asset-Backed Certificates WaMu Series 2007-HE3 Trust                        | CUSIP: 93364EAD6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5818003 | PA      | $4791286.01   | 0.84%             | 2037-05-25      | Floating      | 4.75%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP CHS COMMUNI                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -431796 | PA      | $-431796.25   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| ANTERO MIDSTREAM PART/FI                         | Antero Midstream Partners LP / Antero Midstream Finance Corp                     | CUSIP: 03690AAF3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     75000 | PA      | $71718.75     | 0.01%             | 2028-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Radiate Holdco, LLC                              | Radiate Holdco, LLC 2021 Term Loan B                                             | CUSIP: 75025KAH1<br>LEI: 5493000GQJ5RDX9DNJ71 | Long             | LON              | CORP              | US        |     74250 | PA      | $61794.56     | 0.01%             | 2026-09-25      | Floating      | 7.82%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                       | Fannie Mae Pool                                                                  | CUSIP: 3140JM5T5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    380798 | PA      | $379744.33    | 0.07%             | 2034-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SPECTRUM BRANDS INC                              | Spectrum Brands Inc                                                              | CUSIP: 84762LAV7<br>LEI: 549300VU3EH2E73C1Q04 | Long             | DBT              | CORP              | US        |    106000 | PA      | $93403.05     | 0.02%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TransDigm Inc                                    | TransDigm Inc                                                                    | CUSIP: 893647BB2<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |     58000 | PA      | $57274.13     | 0.01%             | 2026-06-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                      | BNP Paribas SA                                                                   | CUSIP: 05565ASK0<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   1750000 | PA      | $1431515.16   | 0.25%             | 2031-02-25      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| CAMELOT RETURN MERGER SU                         | Camelot Return Merger Sub Inc                                                    | CUSIP: 13323NAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    269000 | PA      | $252927.25    | 0.04%             | 2028-08-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                         | Madison Park Funding XXIX LTD                                                    | CUSIP: 55820CAL9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    565000 | PA      | $545789.77    | 0.10%             | 2030-10-18      | Floating      | 7.79%                 | No            |                  2 | On Loan: No      |
| LLOYDS BANKING GROUP PLC                         | Lloyds Banking Group PLC                                                         | CUSIP: 53944YAJ2<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |    515000 | PA      | $502826.68    | 0.09%             | 2026-06-27      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| HOWARD HUGHES CORP                               | Howard Hughes Corp/The                                                           | CUSIP: 44267DAF4<br>LEI: 549300BVHY25JZC1KI49 | Long             | DBT              | CORP              | US        |    176000 | PA      | $146244.32    | 0.03%             | 2031-02-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| SYNEOS HEALTH INC                                | Syneos Health Inc                                                                | CUSIP: 87166BAA0<br>LEI: 549300F1ZGKDS8P6GU13 | Long             | DBT              | CORP              | US        |     68000 | PA      | $54995.00     | 0.01%             | 2029-01-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                               | Dominican Republic International Bond                                            | CUSIP: 25714PEP9<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |    260000 | PA      | $244042.50    | 0.04%             | 2029-02-22      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                | CDS: (CMBX.NA.7.BBB-)                                                            | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              |  | US        |   5000000 | OU      | $-940833.33   | -0.16%            |  |  |  | No            |                  2 | On Loan: No      |
| GRAND CANYON UNIVERSITY                          | Grand Canyon University                                                          | CUSIP: 38528UAE6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    249000 | PA      | $235700.91    | 0.04%             | 2028-10-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS                           | Verizon Communications Inc                                                       | CUSIP: 92343VGC2<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $949538.86    | 0.17%             | 2061-03-22      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                      | RRP CONSTELLIUM                                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |  -1215244 | PA      | $-1215243.75  | -0.21%            |  |  |  | No            |                  2 | On Loan: No      |
| HOWARD HUGHES CORP                               | Howard Hughes Corp/The                                                           | CUSIP: 44267DAD9<br>LEI: 549300BVHY25JZC1KI49 | Long             | DBT              | CORP              | US        |    106000 | PA      | $98197.34     | 0.02%             | 2028-08-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Bombardier Inc                                   | Bombardier Inc                                                                   | CUSIP: 097751AL5<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |    286000 | PA      | $289611.95    | 0.05%             | 2034-05-01      | Fixed         | 7.45%                 | No            |                  2 | On Loan: No      |
| ALTICE FINANCING SA                              | Altice Financing SA                                                              | CUSIP: 000000000<br>LEI: 549300DIYGW8HVDF7Q17 | Long             | DBT              | CORP              | LU        |    100000 | PA      | $87145.97     | 0.02%             | 2028-01-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| BEACON ROOFING SUPPLY IN                         | Beacon Roofing Supply Inc                                                        | CUSIP: 073685AH2<br>LEI: 549300HDXQWWCBOYXP31 | Long             | DBT              | CORP              | US        |    159000 | PA      | $137071.04    | 0.02%             | 2029-05-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Athenahealth, Inc.                               | Athenahealth, Inc. 2022 Term Loan B                                              | CUSIP: 04686RAB9<br>LEI: 254900AA3KZN4Q7A5Z33 | Long             | LON              | CORP              | US        |   1989847 | PA      | $1882057.34   | 0.33%             | 2029-02-15      | Variable      | 8.01%                 | No            |                  2 | On Loan: No      |
| ACI Worldwide Inc                                | ACI Worldwide Inc                                                                | CUSIP: 004498AB7<br>LEI: 5493003BPVMZUJ6F5C02 | Long             | DBT              | CORP              | US        |    510000 | PA      | $503625.00    | 0.09%             | 2026-08-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| GARDA WORLD SECURITY                             | Garda World Security Corp                                                        | CUSIP: 36485MAK5<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | DBT              | CORP              | CA        |    183000 | PA      | $166550.13    | 0.03%             | 2027-02-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| York CLO Ltd                                     | York CLO 1 Ltd                                                                   | CUSIP: 986255BA4<br>LEI: 549300EJZ6JIZVXIHF06 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $242030.90    | 0.04%             | 2029-10-22      | Floating      | 7.83%                 | No            |                  2 | On Loan: No      |
| Galaxy CLO Ltd                                   | Galaxy XXI CLO Ltd                                                               | CUSIP: 36320XAM6<br>LEI: 549300BW4412X0TZDD77 | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $436404.50    | 0.08%             | 2031-04-20      | Floating      | 10.06%                | No            |                  2 | On Loan: No      |
| LAMB WESTON HLD                                  | Lamb Weston Holdings Inc                                                         | CUSIP: 513272AC8<br>LEI: 5493005SMYID1D2OY946 | Long             | DBT              | CORP              | US        |    373000 | PA      | $360753.48    | 0.06%             | 2028-05-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Staples, Inc.                                    | Staples, Inc. 7 Year Term Loan                                                   | CUSIP: 855031AQ3<br>LEI: XQM2JINI1UL7642TU573 | Long             | LON              | CORP              | US        |     68031 | PA      | $63569.98     | 0.01%             | 2026-04-16      | Floating      | 9.81%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA NA                               | SWAP/CDSWAP/SCDS: (ADRBID)                                                       | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DCR              |  | XX        |     22604 | OU      | $-3454.32     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                          | RRP ZAYO GROUP                                                                   | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |  -1114370 | PA      | $-1114370.00  | -0.20%            |  |  |  | No            |                  2 | On Loan: No      |
| CABLE ONE INC                                    | Cable One Inc                                                                    | CUSIP: 12685JAC9<br>LEI: 549300648QS85T0XSH18 | Long             | DBT              | CORP              | US        |    385000 | PA      | $317443.05    | 0.06%             | 2030-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                        | Uniform Mortgage-Backed Security, TBA                                            | CUSIP: 01F032625<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   2000000 | PA      | $1875504.94   | 0.33%             | 2053-02-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                            | Level 3 Financing Inc                                                            | CUSIP: 527298BN2<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    233000 | PA      | $197376.05    | 0.03%             | 2027-09-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Churchill Downs Inc                              | Churchill Downs Inc                                                              | CUSIP: 171484AG3<br>LEI: 529900FODTBQC8MIS994 | Long             | DBT              | CORP              | US        |    658000 | PA      | $638158.84    | 0.11%             | 2027-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP TENET HEALT                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -330197 | PA      | $-330197.07   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| NOMURA SECURITIES INTERNATIONAL INC              | RRP SCIL IV LLC                                                                  | CUSIP: 000000000<br>LEI: OXTKY6Q8X53C9ILVV871 | Short            | RA               | CORP              | US        |   -224556 | PA      | $-224556.25   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| NRG Energy Inc                                   | NRG Energy Inc                                                                   | CUSIP: 629377CC4<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    958000 | PA      | $953628.22    | 0.17%             | 2027-01-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Central Garden & Pet Co                          | Central Garden & Pet Co                                                          | CUSIP: 153527AM8<br>LEI: 5493004DVZLD37DJ0H83 | Long             | DBT              | CORP              | US        |     20000 | PA      | $19050.00     | 0.00%             | 2028-02-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| SRS DISTRIBUTION INC                             | SRS Distribution Inc                                                             | CUSIP: 78471RAB2<br>LEI: 549300ZQ3XP75BCYM468 | Long             | DBT              | CORP              | US        |    661000 | PA      | $603850.40    | 0.11%             | 2028-07-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| POST HOLDINGS INC                                | Post Holdings Inc                                                                | CUSIP: 737446AQ7<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |    397000 | PA      | $349360.00    | 0.06%             | 2030-04-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| ASHTON WOODS USA/FINANCE                         | Ashton Woods USA LLC / Ashton Woods Finance Co                                   | CUSIP: 045086AP0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    185000 | PA      | $153626.43    | 0.03%             | 2030-04-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                | RRP HESS CORPOR                                                                  | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Short            | RA               | CORP              | US        |   -688125 | PA      | $-688125.00   | -0.12%            |  |  |  | No            |                  2 | On Loan: No      |
| LEVIATHAN BOND LTD                               | Leviathan Bond Ltd                                                               | CUSIP: 000000000<br>LEI: 254900D9T8VKYVQNZ220 | Long             | DBT              | CORP              | IL        |    169086 | PA      | $168325.11    | 0.03%             | 2023-06-30      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES USA, INC.                        | RRP ORACLE CORP                                                                  | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | Short            | RA               | CORP              | US        |   -297096 | PA      | $-297096.25   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP OUTFRONT ME                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -352500 | PA      | $-352500.00   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| MODERN LAND CHINA CO LTD                         | Modern Land China Co Ltd                                                         | CUSIP: 000000000<br>LEI: 549300PDOU6AR9Z9IN08 | Long             | DBT              | CORP              | KY        |    225454 | PA      | $17374.05     | 0.00%             | 2026-12-30      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PANAMA                               | Panama Government International Bond                                             | CUSIP: 698299BK9<br>LEI: 549300SHS4T08CL0LP14 | Long             | DBT              | NUSS              | PA        |    792000 | PA      | $695128.50    | 0.12%             | 2030-01-23      | Fixed         | 3.16%                 | No            |                  2 | On Loan: No      |
| Octagon Investment Partners XXI Ltd              | Octagon Investment Partners XXI Ltd                                              | CUSIP: 67590QBK2<br>LEI: 549300XIS9D4AHDX5A35 | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $494057.07    | 0.09%             | 2031-02-14      | Floating      | 5.65%                 | No            |                  2 | On Loan: No      |
| BANK OF NY MELLON CORP                           | Bank of New York Mellon Corp/The                                                 | CUSIP: 064058AL4<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |   2845000 | PA      | $2471736.00   | 0.43%             | 2026-12-20      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP ARAMARK SER                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -471250 | PA      | $-471250.00   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP HAWAIIANMIL                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -221108 | PA      | $-221107.50   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| Extended Stay America Trust                      | Extended Stay America Trust 2021-ESH                                             | CUSIP: 30227FAJ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    322143 | PA      | $313876.49    | 0.05%             | 2038-07-15      | Floating      | 6.71%                 | No            |                  2 | On Loan: No      |
| MONG DUONG FIN HLDGS BV                          | Mong Duong Finance Holdings BV                                                   | CUSIP: 000000000<br>LEI: 549300995KGQFMWSV879 | Long             | DBT              | CORP              | NL        |    250000 | PA      | $222312.50    | 0.04%             | 2029-05-07      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Saxon Asset Securities Trust                     | Saxon Asset Securities Trust 2007-3                                              | CUSIP: 80557BAD6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3740429 | PA      | $3417950.93   | 0.60%             | 2047-09-25      | Floating      | 4.91%                 | No            |                  2 | On Loan: No      |
| KINDER MORGAN ENER PART                          | Kinder Morgan Energy Partners LP                                                 | CUSIP: 494550BV7<br>LEI: 549300PDHUGWPWGOT525 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2469164.28   | 0.43%             | 2024-09-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| ANTERO MIDSTREAM PART/FI                         | Antero Midstream Partners LP / Antero Midstream Finance Corp                     | CUSIP: 03690AAH9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    263000 | PA      | $244261.25    | 0.04%             | 2029-06-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP HERC HOLDIN                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -314580 | PA      | $-314580.00   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| HUNTINGTON INGALLS INDUS                         | Huntington Ingalls Industries Inc                                                | CUSIP: 446413AT3<br>LEI: 5TZLZ6WJTBVJ0QWBG121 | Long             | DBT              | CORP              | US        |    232000 | PA      | $217042.41    | 0.04%             | 2030-05-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP FORD MOTOR                                                                   | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -358750 | PA      | $-358750.00   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| BRASKEM IDESA SAPI                               | Braskem Idesa SAPI                                                               | CUSIP: 10554NAB4<br>LEI: YH0V7ZHY352ITDGEYB83 | Long             | DBT              | CORP              | MX        |    305000 | PA      | $224358.00    | 0.04%             | 2032-02-20      | Fixed         | 6.99%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                          | RRP DUKE ENERGY                                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |  -1316250 | PA      | $-1316250.00  | -0.23%            |  |  |  | No            |                  2 | On Loan: No      |
| JP MORGAN SECURITIES LLC                         | RRP SURGERY CEN                                                                  | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | Short            | RA               | CORP              | US        |   -361030 | PA      | $-361030.00   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| GULFPORT ENERGY OP CORP                          | Gulfport Energy Corp                                                             | CUSIP: 402635AR7<br>LEI: 254900DJRGZBUZ3F5038 | Long             | DBT              | CORP              | US        |     47000 | PA      | $46568.07     | 0.01%             | 2026-05-17      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| SM Energy Co                                     | SM Energy Co                                                                     | CUSIP: 78454LAN0<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |    161000 | PA      | $158481.16    | 0.03%             | 2026-09-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CRESCENT ENERGY FINANCE                          | Crescent Energy Finance LLC                                                      | CUSIP: 45344LAA1<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |    902000 | PA      | $865920.00    | 0.15%             | 2026-05-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| MUELLER WATER PRODUCTS                           | Mueller Water Products Inc                                                       | CUSIP: 624758AF5<br>LEI: 549300F7ZU4P1F8V8L60 | Long             | DBT              | CORP              | US        |    122000 | PA      | $108204.44    | 0.02%             | 2029-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SURA ASSET MANAGEMENT                            | SURA Asset Management SA                                                         | CUSIP: 000000000<br>LEI: 549300013ETMS1C0EA22 | Long             | DBT              | CORP              | CO        |    376000 | PA      | $371605.50    | 0.07%             | 2024-04-17      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| ROMANIA                                          | Romanian Government International Bond                                           | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |    381000 | PA      | $332398.93    | 0.06%             | 2030-02-08      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| CIVITAS RESOURCES INC                            | Civitas Resources Inc                                                            | CUSIP: 097793AE3<br>LEI: IIVIHPH28S64K95M2381 | Long             | DBT              | CORP              | US        |    113000 | PA      | $105372.50    | 0.02%             | 2026-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HUNGARY                                          | Hungary Government International Bond                                            | CUSIP: 445545AT3<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |    200000 | PA      | $211250.00    | 0.04%             | 2052-09-25      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR COMPANY                               | Ford Motor Co                                                                    | CUSIP: 345370CZ1<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |    526000 | PA      | $533890.00    | 0.09%             | 2026-03-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| KOBE US MIDCO 2 INC                              | Kobe US Midco 2 Inc                                                              | CUSIP: 499894AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    332000 | PA      | $252422.92    | 0.04%             | 2026-11-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| PDC Energy Inc                                   | PDC Energy Inc                                                                   | CUSIP: 69327RAJ0<br>LEI: 5493008W8H2T511J5Y59 | Long             | DBT              | CORP              | US        |    292000 | PA      | $282401.96    | 0.05%             | 2026-05-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Octagon Investment Partners XIV LTD              | Octagon Investment Partners XIV Ltd                                              | CUSIP: 67590ABP6<br>LEI: 549300QEN35HTPJ3BX33 | Long             | ABS-CBDO         | CORP              | KY        |    478915 | PA      | $475727.20    | 0.08%             | 2029-07-15      | Floating      | 5.74%                 | No            |                  2 | On Loan: No      |
| REALOGY GROUP/CO-ISSUER                          | Realogy Group LLC / Realogy Co-Issuer Corp                                       | CUSIP: 75606DAQ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    173000 | PA      | $129750.00    | 0.02%             | 2030-04-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CommScope Inc                                    | CommScope Inc                                                                    | CUSIP: 20338QAD5<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |     47000 | PA      | $44995.45     | 0.01%             | 2026-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| STANDARD INDUSTRIES INC                          | Standard Industries Inc/NJ                                                       | CUSIP: 853496AD9<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |    115000 | PA      | $107772.25    | 0.02%             | 2028-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                      | RRP FNMA 30YR U                                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |  -1291257 | PA      | $-1291256.58  | -0.23%            |  |  |  | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP PRIME SECUR                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -147500 | PA      | $-147500.00   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| LIVE NATION ENTERTAINMEN                         | Live Nation Entertainment Inc                                                    | CUSIP: 538034AX7<br>LEI: 5493007B9BM9ZXJINO78 | Long             | DBT              | CORP              | US        |    253000 | PA      | $225090.94    | 0.04%             | 2028-01-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| JONES DESLAURIERS INSURA                         | Jones Deslauriers Insurance Management Inc                                       | CUSIP: 48020RAA3<br>LEI: 549300JQIWNFU00E5424 | Long             | DBT              | CORP              | CA        |    350000 | PA      | $355319.86    | 0.06%             | 2030-12-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| VMED O2 UK FINAN                                 | Vmed O2 UK Financing I PLC                                                       | CUSIP: 92858RAB6<br>LEI: 213800MRR46ECNGZ7L69 | Long             | DBT              | CORP              | GB        |    762000 | PA      | $647720.02    | 0.11%             | 2031-07-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| NEW FORTRESS ENERGY INC                          | New Fortress Energy Inc                                                          | CUSIP: 644393AB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1261000 | PA      | $1160321.60   | 0.20%             | 2026-09-30      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                      | Freddie Mac Pool                                                                 | CUSIP: 3132DV4S1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     13653 | PA      | $13701.32     | 0.00%             | 2049-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE BANK                             | SWAP/CDSWAP/SCDS: (ADLERR)                                                       | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DCR              |  | XX        |      9242 | OU      | $-1786.55     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Intelsat Jackson Holdings S.A.                   | Intelsat Jackson Holdings S.A. 2021 Exit Term Loan B                             | CUSIP: 000000000<br>LEI: 8XJ8KF85PBKK1TLMFN29 | Long             | LON              | CORP              | LU        |    546260 | PA      | $537230.74    | 0.09%             | 2029-02-01      | Floating      | 9.18%                 | No            |                  2 | On Loan: No      |
| OWL ROCK CAPITAL CORP                            | Owl Rock Capital Corp                                                            | CUSIP: 69121KAD6<br>LEI: 2549000BD79OOCPF2L94 | Long             | DBT              | CORP              | US        |     22000 | PA      | $20722.69     | 0.00%             | 2026-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Hess Corp                                        | Hess Corp                                                                        | CUSIP: 42809HAG2<br>LEI: UASVRYNXNK17ULIGK870 | Long             | DBT              | CORP              | US        |    750000 | PA      | $734622.59    | 0.13%             | 2027-04-01      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Hub International Limited                        | Hub International Limited 2022 Term Loan B                                       | CUSIP: 44332EAV8<br>LEI: 549300JQT6ATTUNS5E06 | Long             | LON              | CORP              | US        |    117016 | PA      | $116876.75    | 0.02%             | 2029-11-10      | Variable      | 8.22%                 | No            |                  2 | On Loan: No      |
| GTCR AP Finance Inc                              | GTCR AP Finance Inc                                                              | CUSIP: 40060QAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    351000 | PA      | $344650.41    | 0.06%             | 2027-05-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Ultimate Software Group Inc (The)                | Ultimate Software Group Inc (The) 2021 2nd Lien Term Loan                        | CUSIP: 000000000<br>LEI: 529900FKHWSTQ1GXK240 | Long             | LON              | CORP              | US        |    556350 | PA      | $530418.53    | 0.09%             | 2027-05-03      | Floating      | 10.03%                | No            |                  2 | On Loan: No      |
| CREDIT SUISSE INTERNATIONAL                      | SCDS: (TTMTIN)                                                                   | CUSIP: 000000000<br>LEI: E58DKGMJYYYJLN8C3868 | N/A              | DCR              |  | XX        |      9868 | OU      | $-665.71      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK SA | RRP MAF SUKUK L                                                                  | CUSIP: 000000000<br>LEI: 1VUV7VQFKUOQSJ21A208 | Short            | RA               | CORP              | US        |   -288844 | PA      | $-288843.75   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| VOYA CLO LTD                                     | Voya 2012-4 Ltd                                                                  | CUSIP: 92916GBE3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    485723 | PA      | $481959.70    | 0.08%             | 2030-10-15      | Floating      | 5.08%                 | No            |                  2 | On Loan: No      |
| LUMEN TECHNOLOGIES INC                           | Lumen Technologies Inc                                                           | CUSIP: 550241AA1<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |     60000 | PA      | $41563.42     | 0.01%             | 2029-06-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| BX Commercial Mortgage Trust 2019-XL             | BX Commercial Mortgage Trust 2019-XL                                             | CUSIP: 056054AA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1110172 | PA      | $1105326.46   | 0.19%             | 2036-10-15      | Floating      | 5.51%                 | No            |                  2 | On Loan: No      |
| LINDBLAD EXPEDITIONS LLC                         | Lindblad Expeditions LLC                                                         | CUSIP: 53523LAA8<br>LEI: 549300MPUWOG67Y2R254 | Long             | DBT              | CORP              | US        |    389000 | PA      | $381570.10    | 0.07%             | 2027-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| TEMPUR SEALY INTL INC                            | Tempur Sealy International Inc                                                   | CUSIP: 88023UAH4<br>LEI: 549300HFEKVR3US71V91 | Long             | DBT              | CORP              | US        |    261000 | PA      | $227962.62    | 0.04%             | 2029-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CEDAR FAIR/CAN/MAGNUM/MI                         | Cedar Fair LP / Canada's Wonderland Co / Magnum Management Corp / Millennium Op  | CUSIP: 150190AF3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    559000 | PA      | $554929.08    | 0.10%             | 2025-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP CCO HOLDING                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -704820 | PA      | $-704820.00   | -0.12%            |  |  |  | No            |                  2 | On Loan: No      |
| SBA COMMUNICATIONS CORP                          | SBA Communications Corp                                                          | CUSIP: 78410GAD6<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | DBT              |  | US        |    930000 | PA      | $858888.20    | 0.15%             | 2027-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| EQT CORP                                         | EQT Corp                                                                         | CUSIP: 26884LAK5<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |     99000 | PA      | $222106.50    | 0.04%             | 2026-05-01      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| CONSTELLATION AUTOMOTIVE                         | Constellation Automotive Financing PLC                                           | CUSIP: 000000000<br>LEI: 254900HVTSU7VICDRM89 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $86237.82     | 0.02%             | 2027-07-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| MIDAS OPCO HOLDINGS LLC                          | Stagwell Global LLC                                                              | CUSIP: 59565JAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    129000 | PA      | $113036.25    | 0.02%             | 2029-08-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| BOXER PARENT CO INC                              | Boxer Parent Co Inc                                                              | CUSIP: 103186AB8<br>LEI: 5493006T045HLTF7YX04 | Long             | DBT              | CORP              | US        |    761000 | PA      | $753409.95    | 0.13%             | 2025-10-02      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| FOUNDATION BUILDING M                            | Foundation Building Materials Inc                                                | CUSIP: 350392AA4<br>LEI: 549300ZVE6MONHB01I28 | Long             | DBT              | CORP              | US        |    139000 | PA      | $111806.04    | 0.02%             | 2029-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                          | RRP CARNIVAL CO                                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -590000 | PA      | $-590000.00   | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| GoldenTree Loan Management US CLO1, LTD          | Goldentree Loan Management US CLO 5 Ltd                                          | CUSIP: 38138DAQ9<br>LEI: 549300O473GD3F35WC55 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $246017.63    | 0.04%             | 2032-10-20      | Floating      | 6.36%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC                                | Herc Holdings Inc                                                                | CUSIP: 42704LAA2<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |    428000 | PA      | $409810.00    | 0.07%             | 2027-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                      | Freddie Mac Pool                                                                 | CUSIP: 3132DPAR9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1627810 | PA      | $1587864.26   | 0.28%             | 2052-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                 | COLT 2022-9 Mortgage Loan Trust                                                  | CUSIP: 19688PAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    361555 | PA      | $368162.33    | 0.06%             | 2067-12-25      | Variable      | 6.79%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                          | RRP ENEL FINANC                                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |  -1115625 | PA      | $-1115625.00  | -0.20%            |  |  |  | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                         | Ford Motor Credit Co LLC                                                         | CUSIP: 345397B28<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    200000 | PA      | $186250.00    | 0.03%             | 2025-11-13      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| EQM MIDSTREAM PARTNERS L                         | EQM Midstream Partners LP                                                        | CUSIP: 26885BAL4<br>LEI: 549300NELT611CL6XM83 | Long             | DBT              | CORP              | US        |    804000 | PA      | $680041.29    | 0.12%             | 2031-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP FORD MOTOR                                                                   | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -480192 | PA      | $-480192.50   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| Carlyle Global Market Strategies                 | CARLYLE US CLO 2018-4 LTD                                                        | CUSIP: 14315RAE1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $241334.43    | 0.04%             | 2031-01-20      | Floating      | 6.61%                 | No            |                  2 | On Loan: No      |
| DirecTV Financing, LLC                           | DirecTV Financing, LLC Term Loan                                                 | CUSIP: 25460HAB8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1187076 | PA      | $1165685.27   | 0.20%             | 2027-08-02      | Floating      | 9.57%                 | No            |                  2 | On Loan: No      |
| Spruce Hill Mortgage Loan Trust                  | Spruce Hill Mortgage Loan Trust 2022-SH1                                         | CUSIP: 85213XAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    726587 | PA      | $697796.20    | 0.12%             | 2057-07-25      | Variable      | 4.10%                 | No            |                  2 | On Loan: No      |
| VERTIV GROUP CORPORATION                         | Vertiv Group Corp                                                                | CUSIP: 92535UAB0<br>LEI: 549300ZT8RQ5VK10E643 | Long             | DBT              | CORP              | US        |    776000 | PA      | $672900.62    | 0.12%             | 2028-11-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                       | Fannie Mae Pool                                                                  | CUSIP: 31418CYN8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    448253 | PA      | $451444.27    | 0.08%             | 2048-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CMG MEDIA CORPORATION                            | CMG Media Corp                                                                   | CUSIP: 88146LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    841000 | PA      | $655980.00    | 0.11%             | 2027-12-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| MONITCHEM HOLDCO 3 S.A.                          | Monitchem HoldCo 3 SA                                                            | CUSIP: 000000000<br>LEI: 222100SJHJ1CNJMSW162 | Long             | DBT              | CORP              | LU        |    100000 | PA      | $105398.57    | 0.02%             | 2025-03-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TEACHERS INSUR & ANNUITY                         | Teachers Insurance & Annuity Association of America                              | CUSIP: 878091BF3<br>LEI: O06XD7BJ4EPXNABVFN69 | Long             | DBT              | CORP              | US        |    700000 | PA      | $629580.31    | 0.11%             | 2047-05-15      | Fixed         | 4.27%                 | No            |                  2 | On Loan: No      |
| FANTASIA HOLDINGS GROUP                          | Fantasia Holdings Group Co Ltd                                                   | CUSIP: 000000000<br>LEI: 5493005JQNLB3I01JW62 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $34500.00     | 0.01%             | 2023-06-01      | Fixed         | 11.88%                | No            |                  2 | On Loan: No      |
| Freddie Mac                                      | Freddie Mac Pool                                                                 | CUSIP: 3133BBF87<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2091982 | PA      | $2033787.48   | 0.36%             | 2052-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                      | RRP NFP CORP 6.                                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |  -1717252 | PA      | $-1717252.50  | -0.30%            |  |  |  | No            |                  2 | On Loan: No      |
| SYNAPTICS INC                                    | Synaptics Inc                                                                    | CUSIP: 87157DAG4<br>LEI: 549300AJ3LI4FWNRQX29 | Long             | DBT              | CORP              | US        |    287000 | PA      | $248517.36    | 0.04%             | 2029-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP MAGALLANES                                                                   | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -788858 | PA      | $-788857.50   | -0.14%            |  |  |  | No            |                  2 | On Loan: No      |
| IHO Verwaltungs GmbH                             | IHO Verwaltungs GmbH                                                             | CUSIP: 000000000<br>LEI: 529900JL0HDVGZMUJF32 | Long             | DBT              | CORP              | DE        |    100000 | PA      | $95397.44     | 0.02%             | 2027-05-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| HPCL-MITTAL ENERGY LTD                           | HPCL-Mittal Energy Ltd                                                           | CUSIP: 000000000<br>LEI: 3358008CSQJBZUGQXP26 | Long             | DBT              | CORP              | IN        |    200000 | PA      | $191975.00    | 0.03%             | 2026-10-22      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| BWX TECHNOLOGIES INC                             | BWX Technologies Inc                                                             | CUSIP: 05605HAC4<br>LEI: 549300NP85N265KWMS58 | Long             | DBT              | CORP              | US        |    265000 | PA      | $237182.77    | 0.04%             | 2029-04-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Royal Bank of Canada                             | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: ES7IP3U3RHIGC71XBU11 | N/A              | DFE              |  | US        |         1 | NC      | $-21989.43    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| STERICYCLE INC                                   | Stericycle Inc                                                                   | CUSIP: 858912AG3<br>LEI: B8PTJH2P0AXSWSMP2136 | Long             | DBT              | CORP              | US        |    210000 | PA      | $186324.60    | 0.03%             | 2029-01-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| ELECTRICITE DE FRANCE SA                         | Electricite de France SA                                                         | CUSIP: 000000000<br>LEI: 549300X3UK4GG3FNMO06 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $183728.40    | 0.03%             | 2027-09-03      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GARDEN SPINCO CORP                               | Garden Spinco Corp                                                               | CUSIP: 365417AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    254000 | PA      | $271780.64    | 0.05%             | 2030-07-20      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| ARCHROCK PARTNERS LP/FIN                         | Archrock Partners LP / Archrock Partners Finance Corp                            | CUSIP: 03959KAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    209000 | PA      | $204820.00    | 0.04%             | 2027-04-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Firstkey Homes Trust                             | FirstKey Homes 2022-SFR1 Trust                                                   | CUSIP: 33768NAJ1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3800000 | PA      | $3350022.62   | 0.59%             | 2039-05-17      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SM Energy Co                                     | SM Energy Co                                                                     | CUSIP: 78454LAP5<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |     27000 | PA      | $26239.86     | 0.00%             | 2027-01-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| GARTNER INC                                      | Gartner Inc                                                                      | CUSIP: 366651AE7<br>LEI: PP55B5R38BFB8O8HH686 | Long             | DBT              | CORP              | US        |    364000 | PA      | $322595.00    | 0.06%             | 2030-10-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| TRUST F/1401                                     | Trust Fibra Uno                                                                  | CUSIP: 898324AC2<br>LEI: N/A                  | Long             | DBT              |  | MX        |    235000 | PA      | $228684.38    | 0.04%             | 2026-01-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NETFLIX INC                                      | Netflix Inc                                                                      | CUSIP: 000000000<br>LEI: 549300Y7VHGU0I7CE873 | Long             | DBT              | CORP              | US        |    100000 | PA      | $103920.70    | 0.02%             | 2030-06-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| OPEN TEXT CORP                                   | Open Text Corp                                                                   | CUSIP: 683715AF3<br>LEI: 549300HP7ONDQODZJV16 | Long             | DBT              | CORP              | CA        |   1133000 | PA      | $1159908.75   | 0.20%             | 2027-12-01      | Fixed         | 6.90%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS CO                                | General Motors Co                                                                | CUSIP: 37045VAZ3<br>LEI: 54930070NSV60J38I987 | Long             | DBT              | CORP              | US        |    127000 | PA      | $125463.97    | 0.02%             | 2032-10-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| AHP HEALTH PARTN                                 | AHP Health Partners Inc                                                          | CUSIP: 00150LAB7<br>LEI: 549300QMM8MQ6SM5KX05 | Long             | DBT              | CORP              | US        |    415000 | PA      | $341414.69    | 0.06%             | 2029-07-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| BLOCK COMMUNICATIONS INC                         | Block Communications Inc                                                         | CUSIP: 093645AJ8<br>LEI: M5G68A9OHJWIL4SFC742 | Long             | DBT              | CORP              | US        |    168000 | PA      | $147840.00    | 0.03%             | 2028-03-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| FANTASIA HOLDINGS GROUP                          | Fantasia Holdings Group Co Ltd                                                   | CUSIP: 000000000<br>LEI: 5493005JQNLB3I01JW62 | Long             | DBT              | CORP              | KY        |    430000 | PA      | $74175.00     | 0.01%             | 2022-04-17      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| TELECOM ITALIA SPA                               | Telecom Italia SpA/Milano                                                        | CUSIP: 000000000<br>LEI: 549300W384M3RI3VXU42 | Long             | DBT              | CORP              | IT        |    100000 | PA      | $82269.01     | 0.01%             | 2029-01-18      | Fixed         | 1.63%                 | No            |                  2 | On Loan: No      |
| COMSTOCK RESOURCES INC                           | Comstock Resources Inc                                                           | CUSIP: 205768AT1<br>LEI: I03QQGEA4SS774AURI46 | Long             | DBT              | CORP              | US        |   1179000 | PA      | $1010992.50   | 0.18%             | 2030-01-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                             | RRP AVIS BUDGET                                                                  | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |    -33581 | PA      | $-33581.25    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                          | RRP CALLON PETR                                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -642006 | PA      | $-642006.25   | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| CELANESE US HOLDINGS LLC                         | Celanese US Holdings LLC                                                         | CUSIP: 15089QAM6<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |    355000 | PA      | $359583.22    | 0.06%             | 2027-07-15      | Fixed         | 6.17%                 | No            |                  2 | On Loan: No      |
| EQM MIDSTREAM PARTNERS L                         | EQM Midstream Partners LP                                                        | CUSIP: 26885BAF7<br>LEI: 549300NELT611CL6XM83 | Long             | DBT              | CORP              | US        |     44000 | PA      | $43318.44     | 0.01%             | 2025-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| POSCO                                            | POSCO                                                                            | CUSIP: 73730EAD5<br>LEI: 9884000N94NH7G6LQ816 | Long             | DBT              | CORP              | KR        |    200000 | PA      | $205840.00    | 0.04%             | 2028-01-17      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ENTEGRIS ESCROW CORP                             | Entegris Escrow Corp                                                             | CUSIP: 29365BAA1<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | DBT              | CORP              | US        |   1939000 | PA      | $1817305.59   | 0.32%             | 2029-04-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| FedEx Corp                                       | FedEx Corp                                                                       | CUSIP: 31428XBE5<br>LEI: 549300E707U7WNPZN687 | Long             | DBT              | CORP              | US        |    500000 | PA      | $454519.30    | 0.08%             | 2045-11-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                          | RRP GENERAL MOT                                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |  -2048648 | PA      | $-2048647.50  | -0.36%            |  |  |  | No            |                  2 | On Loan: No      |
| GRAPHIC PACKAGING INTERN                         | Graphic Packaging International LLC                                              | CUSIP: 000000000<br>LEI: SO75N4VY5NXGQSK8YQ65 | Long             | DBT              | CORP              | US        |    195000 | PA      | $184279.22    | 0.03%             | 2029-02-01      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL CALCASIEU                         | Venture Global Calcasieu Pass LLC                                                | CUSIP: 92328MAB9<br>LEI: 549300GKHS6RS20NLH85 | Long             | DBT              | CORP              | US        |   1172000 | PA      | $1039048.32   | 0.18%             | 2031-08-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| TICP CLO Ltd                                     | TICP CLO VIII Ltd                                                                | CUSIP: 87248WAN8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $242924.63    | 0.04%             | 2034-10-20      | Floating      | 6.51%                 | No            |                  2 | On Loan: No      |
| UNION PACIFIC CORP                               | Union Pacific Corp                                                               | CUSIP: 907818FT0<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | DBT              | CORP              | US        |    275000 | PA      | $227640.98    | 0.04%             | 2041-05-20      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| ARCHROCK PARTNERS LP/FIN                         | Archrock Partners LP / Archrock Partners Finance Corp                            | CUSIP: 03959KAC4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1088000 | PA      | $1033600.00   | 0.18%             | 2028-04-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| United Airlines, Inc.                            | United Airlines, Inc. 2021 Term Loan B                                           | CUSIP: 90932RAJ3<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | LON              | CORP              | US        |    774101 | PA      | $772367.01    | 0.14%             | 2028-04-21      | Floating      | 8.57%                 | No            |                  2 | On Loan: No      |
| CREDIT SUISSE SECURITIES (USA) LLC               | RRP MICROSTRATE                                                                  | CUSIP: 000000000<br>LEI: 1V8Y6QCX6YMJ2OELII46 | Short            | RA               | CORP              | US        |   -103950 | PA      | $-103950.00   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| NOMURA SECURITIES INTERNATIONAL INC              | RRP BALL CORPOR                                                                  | CUSIP: 000000000<br>LEI: OXTKY6Q8X53C9ILVV871 | Short            | RA               | CORP              | US        |   -368566 | PA      | $-368566.25   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| NOMURA SECURITIES INTERNATIONAL INC              | RRP ALLIED UNIV                                                                  | CUSIP: 000000000<br>LEI: OXTKY6Q8X53C9ILVV871 | Short            | RA               | CORP              | US        |   -718620 | PA      | $-718620.00   | -0.13%            |  |  |  | No            |                  2 | On Loan: No      |
| TELECOM ITALIA CAPITAL                           | Telecom Italia Capital SA                                                        | CUSIP: 87927VAR9<br>LEI: 549300777DJZOR5C4L39 | Long             | DBT              | CORP              | LU        |    137000 | PA      | $116386.98    | 0.02%             | 2036-07-18      | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| COMPASS GROUP DIVERSIFIE                         | Compass Group Diversified Holdings LLC                                           | CUSIP: 20451RAB8<br>LEI: 549300I6PTUQPX21TE93 | Long             | DBT              | CORP              | US        |    273000 | PA      | $245639.94    | 0.04%             | 2029-04-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| EMBRAER NETHERLANDS FINA                         | Embraer Netherlands Finance BV                                                   | CUSIP: 29082HAC6<br>LEI: 724500PBR8LR26XBSP67 | Long             | DBT              | CORP              | NL        |    269000 | PA      | $275187.00    | 0.05%             | 2028-01-17      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                          | RRP GLOBAL PAYM                                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -625600 | PA      | $-625600.00   | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| TD SECURITIES USA LLC                            | RRP GLOBAL PAYM                                                                  | CUSIP: 000000000<br>LEI: SUVUFHICNZMP2WKHG940 | Short            | RA               | CORP              | US        |   -606815 | PA      | $-606815.00   | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP ALTICE FINA                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -295102 | PA      | $-295102.50   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| HPS LOAN MANAGEMENT 8-2016, LTD                  | HPS Loan Management 8-2016 Ltd                                                   | CUSIP: 40437JAA5<br>LEI: 54930040W4QDWLO30S73 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $833740.04    | 0.15%             | 2030-07-20      | Floating      | 10.31%                | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                 | CIFC Funding 2016-I Ltd                                                          | CUSIP: 17180TBC5<br>LEI: 54930076OPDXR0U68E20 | Long             | ABS-CBDO         | CORP              | KY        |    750000 | PA      | $731781.30    | 0.13%             | 2031-10-21      | Floating      | 6.52%                 | No            |                  2 | On Loan: No      |
| HILTON DOMESTIC OPERATIN                         | Hilton Domestic Operating Co Inc                                                 | CUSIP: 432833AF8<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |    533000 | PA      | $502470.29    | 0.09%             | 2030-01-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| ZIGGO BOND CO BV                                 | Ziggo Bond Co BV                                                                 | CUSIP: 98953GAD7<br>LEI: 213800JYI4P7V5QDOG59 | Long             | DBT              | CORP              | NL        |    295000 | PA      | $243817.50    | 0.04%             | 2030-02-28      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                               | Energy Transfer LP                                                               | CUSIP: 29273VAP5<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    205000 | PA      | $208327.15    | 0.04%             | 2028-02-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| AEROPUERTOS DOMINICANOS                          | Aeropuertos Dominicanos Siglo XXI SA                                             | CUSIP: 007866AC0<br>LEI: 254900KJA5MXNPYB4W32 | Long             | DBT              | CORP              | DO        |    274000 | PA      | $270403.75    | 0.05%             | 2029-03-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Regatta IX Funding Ltd                           | Regatta IX Funding Ltd                                                           | CUSIP: 75887VAG6<br>LEI: 254900JVS76S6N8G1I74 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $243350.30    | 0.04%             | 2030-04-17      | Floating      | 8.69%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES USA, INC.                        | RRP BANK OF AME                                                                  | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | Short            | RA               | CORP              | US        |   -570712 | PA      | $-570712.50   | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae                                       | Fannie Mae Pool                                                                  | CUSIP: 3140HQBL8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     22527 | PA      | $22459.91     | 0.00%             | 2048-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CHOBANI LLC/FINANCE CORP                         | Chobani LLC / Chobani Finance Corp Inc                                           | CUSIP: 17027NAA0<br>LEI: 549300Q10QN3IXF3HZ69 | Long             | DBT              | CORP              | US        |   1097000 | PA      | $1076080.21   | 0.19%             | 2025-04-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| ADT SEC CORP                                     | ADT Security Corp/The                                                            | CUSIP: 00101JAH9<br>LEI: 5493009JEEDYLVRA0J13 | Long             | DBT              | CORP              | US        |     16000 | PA      | $15922.40     | 0.00%             | 2023-06-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR COMPANY                               | Ford Motor Co                                                                    | CUSIP: 345370DB3<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |    232000 | PA      | $227650.78    | 0.04%             | 2032-08-19      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS                         | Univision Communications Inc                                                     | CUSIP: 914906AX0<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |    270000 | PA      | $264776.35    | 0.05%             | 2030-06-30      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| PECF USS Intermediate Holding III Corporation    | PECF USS Intermediate Holding III Corporation Term Loan B                        | CUSIP: 69291LAB2<br>LEI: 254900DIL842DEXPYJ91 | Long             | LON              | CORP              | US        |    882124 | PA      | $751904.97    | 0.13%             | 2028-12-15      | Floating      | 8.82%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP MOZART DEBT                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |  -1026079 | PA      | $-1026078.75  | -0.18%            |  |  |  | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                          | RRP SENSATA TEC                                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -585892 | PA      | $-585892.50   | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                          | Frontier Communications Holdings LLC                                             | CUSIP: 35906ABF4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1029000 | PA      | $935515.35    | 0.16%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Rad CLO Ltd                                      | Rad CLO 6 Ltd                                                                    | CUSIP: 48661KAA2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $459953.30    | 0.08%             | 2033-01-20      | Floating      | 12.34%                | No            |                  2 | On Loan: No      |
| Credito Real Sab DE CV Sofom ENR                 | Credito Real Sab DE CV Sofom ENR Term Loan B                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | MX        |     56000 | PA      | $1960.00      | 0.00%             | 2023-02-17      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| Countrywide Alternative Loan Trust               | Alternative Loan Trust 2006-J7                                                   | CUSIP: 23244FAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2950130 | PA      | $2125759.66   | 0.37%             | 2046-11-20      | Floating      | 5.87%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                         | Charter Communications Operating LLC / Charter Communications Operating Capital  | CUSIP: 161175BA1<br>LEI: 549300TPZNMN50BJ3745 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2951235.75   | 0.52%             | 2045-10-23      | Fixed         | 6.48%                 | No            |                  2 | On Loan: No      |
| HSBC Holdings PLC                                | HSBC Holdings PLC                                                                | CUSIP: 404280BL2<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    695000 | PA      | $667478.00    | 0.12%             | 2027-05-22      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| JP Morgan Chase Commercial Mortgage Sec Trust    | J.P. Morgan Chase Commercial Mortgage Securities Trust 2022-ACB                  | CUSIP: 46593EAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1600000 | PA      | $1563959.04   | 0.27%             | 2039-03-15      | Floating      | 5.68%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                | SWAP/CDSWAP/SCDS: (ADLERR)                                                       | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              |  | XX        |     15219 | OU      | $-2941.95     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| OI EUROPEAN GROUP BV                             | OI European Group BV                                                             | CUSIP: 000000000<br>LEI: 72450053F5WRDY8CDZ66 | Long             | DBT              | CORP              | NL        |    100000 | PA      | $104603.43    | 0.02%             | 2025-02-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| CENTENE CORP                                     | Centene Corp                                                                     | CUSIP: 15135BAX9<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |   1268000 | PA      | $1036617.97   | 0.18%             | 2031-03-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                          | Royal Caribbean Cruises Ltd                                                      | CUSIP: 780153BL5<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |    229000 | PA      | $243013.66    | 0.04%             | 2027-08-15      | Fixed         | 11.63%                | No            |                  2 | On Loan: No      |
| ALTICE FRANCE SA                                 | Altice France SA/France                                                          | CUSIP: 02156LAE1<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |    201000 | PA      | $157535.76    | 0.03%             | 2029-01-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| SCC POWER PLC                                    | SCC Power PLC                                                                    | CUSIP: 78397YAC6<br>LEI: 529900IYGYC6VSDSDF37 | Long             | DBT              | CORP              | GB        |    359307 | PA      | $14372.28     | 0.00%             | 2032-05-17      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CATALENT PHARMA SOLUTION                         | Catalent Pharma Solutions Inc                                                    | CUSIP: 14879EAE8<br>LEI: 549300HALRZ339MSTH85 | Long             | DBT              | CORP              | US        |    341000 | PA      | $322510.61    | 0.06%             | 2027-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                          | Royal Caribbean Cruises Ltd                                                      | CUSIP: 780153AZ5<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |    154000 | PA      | $165362.12    | 0.03%             | 2025-06-01      | Fixed         | 11.50%                | No            |                  2 | On Loan: No      |
| Independence Plaza Trust                         | Independence Plaza Trust 2018-INDP                                               | CUSIP: 45378YAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $948800.80    | 0.17%             | 2035-07-10      | Fixed         | 3.76%                 | No            |                  2 | On Loan: No      |
| VICI PROPERTIES / NOTE                           | VICI Properties LP / VICI Note Co Inc                                            | CUSIP: 92564RAC9<br>LEI: N/A                  | Long             | DBT              |  | US        |    140000 | PA      | $133224.00    | 0.02%             | 2025-02-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| SCIENCE APPLICATIONS INT                         | Science Applications International Corp                                          | CUSIP: 808625AA5<br>LEI: 549300LZPNZIXQGZPZ48 | Long             | DBT              | CORP              | US        |    377000 | PA      | $353437.50    | 0.06%             | 2028-04-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Co LLC                         | Ford Motor Credit Co LLC                                                         | CUSIP: 345397ZR7<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    214000 | PA      | $202809.41    | 0.04%             | 2029-05-03      | Fixed         | 5.11%                 | No            |                  2 | On Loan: No      |
| ARCONIC CORP                                     | Arconic Corp                                                                     | CUSIP: 03966VAB3<br>LEI: 549300B4YFWH3U74B152 | Long             | DBT              | CORP              | US        |    361000 | PA      | $357417.62    | 0.06%             | 2025-05-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| F-BRASILE SPA/F-BRASILE                          | F-Brasile SpA / F-Brasile US LLC                                                 | CUSIP: 30191BAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | IT        |    464000 | PA      | $380192.32    | 0.07%             | 2026-08-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                       | Verus Securitization Trust 2022-INV2                                             | CUSIP: 924923AA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    552127 | PA      | $562982.04    | 0.10%             | 2067-10-25      | Variable      | 6.79%                 | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES/AADVAN                         | American Airlines Inc/AAdvantage Loyalty IP Ltd                                  | CUSIP: 00253XAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |   1343049 | PA      | $1299026.77   | 0.23%             | 2029-04-20      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| KASIKORNBANK PCL HK                              | Kasikornbank PCL/Hong Kong                                                       | CUSIP: 000000000<br>LEI: 5493004COSQ54937AW41 | Long             | DBT              | CORP              | TH        |    246000 | PA      | $237390.00    | 0.04%             | 2025-10-14      | Fixed         | 5.28%                 | No            |                  2 | On Loan: No      |
| ENLINK MIDSTREAM PARTNER                         | EnLink Midstream Partners LP                                                     | CUSIP: 29336UAC1<br>LEI: 88CPW63VL7KHJWS0NY83 | Long             | DBT              | CORP              | US        |    274000 | PA      | $229499.66    | 0.04%             | 2044-04-01      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| LIMA METRO LINE 2 FIN LT                         | Lima Metro Line 2 Finance Ltd                                                    | CUSIP: 532522AA7<br>LEI: 5493009BVQNQT1UKQ352 | Long             | DBT              | CORP              | KY        |   1864182 | PA      | $1817344.10   | 0.32%             | 2034-07-05      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                      | RRP FNMA 30YR F                                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -435314 | PA      | $-435314.42   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| TD SECURITIES USA LLC                            | RRP BOOZ ALLEN                                                                   | CUSIP: 000000000<br>LEI: SUVUFHICNZMP2WKHG940 | Short            | RA               | CORP              | US        |   -301840 | PA      | $-301840.00   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| GFL ENVIRONMENTAL INC                            | GFL Environmental Inc                                                            | CUSIP: 36168QAP9<br>LEI: 549300FYK4MBXWIVZU26 | Long             | DBT              | CORP              | CA        |    403000 | PA      | $357388.46    | 0.06%             | 2029-08-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP JPMORGAN CH                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -247015 | PA      | $-247015.00   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| ATLAS LUXCO 4 / ALL UNI                          | Allied Universal Holdco LLC/Allied Universal Finance Corp/Atlas Luxco 4 Sarl     | CUSIP: 049362AA4<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    910000 | PA      | $781535.30    | 0.14%             | 2028-06-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| OZLM Ltd                                         | OZLM XXI Ltd                                                                     | CUSIP: 67112EAA1<br>LEI: 5493002HF6D1C4B1AK86 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $208060.38    | 0.04%             | 2031-01-20      | Floating      | 10.35%                | No            |                  2 | On Loan: No      |
| KINGDOM OF BAHRAIN                               | Bahrain Government International Bond                                            | CUSIP: 000000000<br>LEI: 549300RODM1WN85LFQ95 | Long             | DBT              | NUSS              | BH        |    200000 | PA      | $181000.00    | 0.03%             | 2032-09-16      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| PERFORMANCE FOOD GROUP I                         | Performance Food Group Inc                                                       | CUSIP: 71376LAE0<br>LEI: 549300OMUOGBYK0FFO76 | Long             | DBT              | CORP              | US        |    502000 | PA      | $447909.50    | 0.08%             | 2029-08-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| HOME POINT CAPITAL INC                           | Home Point Capital Inc                                                           | CUSIP: 43734LAA4<br>LEI: 549300DQF6YN0E43PM71 | Long             | DBT              | CORP              | US        |    247000 | PA      | $177934.97    | 0.03%             | 2026-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP SCIENTIFIC                                                                   | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -143925 | PA      | $-143925.00   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| Octagon Investment Partners 32 Ltd               | Octagon Investment Partners 32 Ltd                                               | CUSIP: 67578BAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    239887 | PA      | $238101.85    | 0.04%             | 2029-07-15      | Floating      | 5.74%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP CARNIVAL CO                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -167781 | PA      | $-167781.25   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| AIR CANADA                                       | Air Canada 2021 Term Loan B                                                      | CUSIP: 000000000<br>LEI: 4B4HI3CGXMBDC0G6BM51 | Long             | LON              | CORP              | CA        |    257145 | PA      | $256731.42    | 0.04%             | 2028-08-11      | Floating      | 8.13%                 | No            |                  2 | On Loan: No      |
| CARPENTER TECHNOLOGY                             | Carpenter Technology Corp                                                        | CUSIP: 144285AL7<br>LEI: DX6I6ZD3X5WNNCDJKP85 | Long             | DBT              | CORP              | US        |     57000 | PA      | $56145.00     | 0.01%             | 2028-07-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| WESTERN MIDSTREAM OPERAT                         | Western Midstream Operating LP                                                   | CUSIP: 958254AJ3<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |     43000 | PA      | $37625.00     | 0.01%             | 2048-03-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| WYNN LAS VEGAS LLC/CORP                          | Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp                                 | CUSIP: 983130AX3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    268000 | PA      | $253174.24    | 0.04%             | 2027-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP GENERAL MOT                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -120395 | PA      | $-120395.00   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                      | RRP FHLMC 30YR                                                                   | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -709207 | PA      | $-709207.13   | -0.12%            |  |  |  | No            |                  2 | On Loan: No      |
| SERVICE CORP INTL                                | Service Corp International/US                                                    | CUSIP: 817565CF9<br>LEI: 549300RKVM2ME20JHZ15 | Long             | DBT              | CORP              | US        |    341000 | PA      | $286555.94    | 0.05%             | 2030-08-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| CLARIV SCI HLD CORP                              | Clarivate Science Holdings Corp                                                  | CUSIP: 18064PAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    589000 | PA      | $518275.83    | 0.09%             | 2029-07-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP CLARIVATE S                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -385059 | PA      | $-385058.75   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| Chobani, LLC                                     | Chobani, LLC 2020 Term Loan B                                                    | CUSIP: 17026YAH2<br>LEI: 549300ISVDMZ91KNTR38 | Long             | LON              | CORP              | US        |     61184 | PA      | $60783.00     | 0.01%             | 2027-10-25      | Floating      | 8.07%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                      | RRP INDONESIA (                                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -870056 | PA      | $-870056.25   | -0.15%            |  |  |  | No            |                  2 | On Loan: No      |
| TierPoint, LLC                                   | TierPoint, LLC 2021 Term Loan                                                    | CUSIP: 88651BAL6<br>LEI: 549300L53HPEWRGN5U22 | Long             | LON              | CORP              | US        |     63540 | PA      | $59671.14     | 0.01%             | 2026-05-05      | Floating      | 8.32%                 | No            |                  2 | On Loan: No      |
| RESIDEO FUNDING INC                              | Resideo Funding Inc                                                              | CUSIP: 76119LAB7<br>LEI: 5493000IFJ6XJKH66598 | Long             | DBT              | CORP              | US        |     77000 | PA      | $63858.41     | 0.01%             | 2029-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| STONEGATE PUB FIN                                | Stonegate Pub Co Financing 2019 PLC                                              | CUSIP: 000000000<br>LEI: 254900L5266ML3505282 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $114207.48    | 0.02%             | 2025-07-31      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                         | Occidental Petroleum Corp                                                        | CUSIP: 674599DB8<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |     38000 | PA      | $38688.94     | 0.01%             | 2024-07-01      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                | RRP BANK OF NEW                                                                  | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Short            | RA               | CORP              | US        |  -2034175 | PA      | $-2034175.00  | -0.36%            |  |  |  | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                           | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCT8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    398000 | PA      | $398995.00    | 0.07%             | 2031-03-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Grab Holdings Inc                                | Grab Holdings Inc Term Loan B                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | SG        |     75351 | PA      | $74570.19     | 0.01%             | 2026-01-29      | Floating      | 9.07%                 | No            |                  2 | On Loan: No      |
| SIRIUS XM RADIO INC                              | Sirius XM Radio Inc                                                              | CUSIP: 82967NBL1<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |    627000 | PA      | $564315.90    | 0.10%             | 2026-09-01      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| CONSENSUS CLOUD SOLUTION                         | Consensus Cloud Solutions Inc                                                    | CUSIP: 20848VAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     91000 | PA      | $86963.51     | 0.02%             | 2026-10-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP CARNIVAL HO                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |  -1152380 | PA      | $-1152380.00  | -0.20%            |  |  |  | No            |                  2 | On Loan: No      |
| CENTRAIS ELETRICAS BRASI                         | Centrais Eletricas Brasileiras SA                                                | CUSIP: 15236FAA8<br>LEI: 254900I8KYDELP4B4Z08 | Long             | DBT              | CORP              | BR        |    200000 | PA      | $189850.00    | 0.03%             | 2025-02-04      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| Matador Resources Co                             | Matador Resources Co                                                             | CUSIP: 576485AE6<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | DBT              | CORP              | US        |    401000 | PA      | $394432.62    | 0.07%             | 2026-09-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                                     | Enbridge Inc                                                                     | CUSIP: 29250NBC8<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    690000 | PA      | $652940.10    | 0.11%             | 2080-07-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| RENK AG FRANKFURT                                | Renk AG/Frankfurt am Main                                                        | CUSIP: 000000000<br>LEI: 894500DAJJ2W78HOJY11 | Long             | DBT              | CORP              | DE        |    100000 | PA      | $105968.89    | 0.02%             | 2025-07-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Deer Creek CLO, Ltd.                             | Deer Creek Clo Ltd 2017-1                                                        | CUSIP: 24380LAC7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    467949 | PA      | $463996.43    | 0.08%             | 2030-10-20      | Floating      | 5.99%                 | No            |                  2 | On Loan: No      |
| BLACK KNIGHT INFOSERV LL                         | Black Knight InfoServ LLC                                                        | CUSIP: 092174AA9<br>LEI: 549300H5PS5C68DAUX66 | Long             | DBT              | CORP              | US        |    501000 | PA      | $444637.50    | 0.08%             | 2028-09-01      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| BLOCK INC                                        | Block Inc                                                                        | CUSIP: 852234AP8<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |   2304000 | PA      | $1923876.40   | 0.34%             | 2031-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| RHP HOTEL PPTY/RHP FINAN                         | RHP Hotel Properties LP / RHP Finance Corp                                       | CUSIP: 749571AG0<br>LEI: N/A                  | Long             | DBT              |  | US        |    227000 | PA      | $201758.21    | 0.04%             | 2029-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Teleflex Inc                                     | Teleflex Inc                                                                     | CUSIP: 879369AF3<br>LEI: UUL85LWXB4NGSWWXIQ25 | Long             | DBT              | CORP              | US        |    100000 | PA      | $95471.25     | 0.02%             | 2027-11-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| AMC NETWORKS INC                                 | AMC Networks Inc                                                                 | CUSIP: 00164VAF0<br>LEI: 549300VGG9K75226LR46 | Long             | DBT              | CORP              | US        |    157000 | PA      | $96751.25     | 0.02%             | 2029-02-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR COMPANY                               | Ford Motor Co                                                                    | CUSIP: 345370DA5<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |    797000 | PA      | $632552.67    | 0.11%             | 2032-02-12      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                      | Freddie Mac Pool                                                                 | CUSIP: 3131Y7PC5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    169102 | PA      | $170375.23    | 0.03%             | 2048-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP ALTICE FRAN                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -725108 | PA      | $-725107.50   | -0.13%            |  |  |  | No            |                  2 | On Loan: No      |
| SRS DISTRIBUTION INC                             | SRS Distribution Inc                                                             | CUSIP: 78471RAC0<br>LEI: 549300ZQ3XP75BCYM468 | Long             | DBT              | CORP              | US        |    638000 | PA      | $548622.58    | 0.10%             | 2029-07-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| VS Buyer, LLC                                    | VS Buyer, LLC Term Loan B                                                        | CUSIP: 91834WAC4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     91415 | PA      | $90558.44     | 0.02%             | 2027-02-28      | Floating      | 7.70%                 | No            |                  2 | On Loan: No      |
| ECOPETROL SA                                     | Ecopetrol SA                                                                     | CUSIP: 279158AP4<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | CORP              | CO        |    370000 | PA      | $291393.50    | 0.05%             | 2031-11-02      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY OPERATING                         | NextEra Energy Operating Partners LP                                             | CUSIP: 65342QAK8<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |    205000 | PA      | $200215.98    | 0.04%             | 2024-07-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                                | HSBC Holdings PLC                                                                | CUSIP: 404280CN7<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $169550.00    | 0.03%             | 2030-12-17      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Buckeye Partners LP                              | Buckeye Partners LP                                                              | CUSIP: 118230AP6<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |    117000 | PA      | $89223.03     | 0.02%             | 2044-10-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| MOLINA HEALTHCARE INC                            | Molina Healthcare Inc                                                            | CUSIP: 60855RAJ9<br>LEI: 549300NQQCEQ46YHZ591 | Long             | DBT              | CORP              | US        |    152000 | PA      | $140379.60    | 0.02%             | 2028-06-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                      | Freddie Mac Pool                                                                 | CUSIP: 3132A5KC8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    733285 | PA      | $735307.19    | 0.13%             | 2048-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BUCKEYE PARTNERS LP                              | Buckeye Partners LP                                                              | CUSIP: 118230AT8<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |    345000 | PA      | $327750.00    | 0.06%             | 2025-03-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| JP MORGAN SECURITIES LLC                         | RRP CHENIERE EN                                                                  | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | Short            | RA               | CORP              | US        |   -711250 | PA      | $-711250.00   | -0.12%            |  |  |  | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP UNITED AIRL                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -499680 | PA      | $-499680.00   | -0.09%            |  |  |  | No            |                  2 | On Loan: No      |
| Galaxy CLO Ltd                                   | Galaxy XXVI CLO Ltd                                                              | CUSIP: 36321LAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $246268.08    | 0.04%             | 2031-11-22      | Floating      | 5.86%                 | No            |                  2 | On Loan: No      |
| CLEARWAY ENERGY OP LLC                           | Clearway Energy Operating LLC                                                    | CUSIP: 18539UAC9<br>LEI: 549300Z3NFMM54NWBB87 | Long             | DBT              | CORP              | US        |    116000 | PA      | $109411.20    | 0.02%             | 2028-03-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| VIASAT INC                                       | Viasat Inc                                                                       | CUSIP: 92552VAL4<br>LEI: UFC8NYMNFSYIHNSM2I38 | Long             | DBT              | CORP              | US        |     87000 | PA      | $81148.38     | 0.01%             | 2027-04-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| BlackRock Liquidity Funds                        | BlackRock Liquidity Funds: T-Fund, Institutional Shares                          | CUSIP: 09248U718<br>LEI: 5493007YVNX55LTRQ706 | Long             | STIV             | RF                | US        |    208918 | NS      | $208918.29    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                                       | Fannie Mae Pool                                                                  | CUSIP: 3140Q9NX7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     24716 | PA      | $24560.32     | 0.00%             | 2048-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP DOMINICAN R                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -217808 | PA      | $-217807.50   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| Starwood Mortgage Residential Trust              | Starwood Mortgage Residential Trust 2020-3                                       | CUSIP: 85573MAD1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1057000 | PA      | $883014.31    | 0.15%             | 2065-04-25      | Variable      | 3.54%                 | No            |                  2 | On Loan: No      |
| SOTHEBY'S                                        | Sotheby's                                                                        | CUSIP: 835898AH0<br>LEI: 549300P5BAAMQQ7VL735 | Long             | DBT              | CORP              | US        |   1297000 | PA      | $1245733.16   | 0.22%             | 2027-10-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP/FINANCE CORP                           | Sunoco LP / Sunoco Finance Corp                                                  | CUSIP: 86765LAN7<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |    147000 | PA      | $144060.00    | 0.03%             | 2028-03-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP MOLINA HEAL                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -104812 | PA      | $-104812.50   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| BROADCOM INC                                     | Broadcom Inc                                                                     | CUSIP: 11135FBK6<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    527000 | PA      | $442125.42    | 0.08%             | 2033-04-15      | Fixed         | 3.42%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust                     | CSMC 2022-NQM5 Trust                                                             | CUSIP: 12663DAC8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2902197 | PA      | $2867443.42   | 0.50%             | 2067-05-25      | Variable      | 5.17%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF GUATEMALA                            | Guatemala Government Bond                                                        | CUSIP: 401494AU3<br>LEI: 529900QKDFFU9UWW5315 | Long             | DBT              | NUSS              | GT        |    401000 | PA      | $333281.13    | 0.06%             | 2041-10-07      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| JP MORGAN SECURITIES LLC                         | RRP GOLDMAN SAC                                                                  | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | Short            | RA               | CORP              | US        |   -427500 | PA      | $-427500.00   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| ARCOSA INC                                       | Arcosa Inc                                                                       | CUSIP: 039653AA8<br>LEI: 549300WFHLTCZV7D6V29 | Long             | DBT              | CORP              | US        |    477000 | PA      | $426574.44    | 0.07%             | 2029-04-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                       | Fannie Mae Pool                                                                  | CUSIP: 31418EE55<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  44513054 | PA      | $43000720.01  | 7.53%             | 2052-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                      | RRP SWF ESCROW                                                                   | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -210472 | PA      | $-210472.50   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| Carlyle Global Market Strategies                 | Carlyle Global Market Strategies CLO 2015-1 Ltd                                  | CUSIP: 14311DBN5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1660980 | PA      | $1644370.11   | 0.29%             | 2031-07-20      | Floating      | 5.79%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                          | RRP SHELL INTER                                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -401062 | PA      | $-401062.50   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| Octagon Investment Partners XV Ltd               | Octagon Investment Partners XV Ltd                                               | CUSIP: 67590EBG8<br>LEI: 549300VYCI9AZ4NZBX86 | Long             | ABS-CBDO         | CORP              | KY        |   2686869 | PA      | $2667614.38   | 0.47%             | 2030-07-19      | Floating      | 5.77%                 | No            |                  2 | On Loan: No      |
| BANCO BPM SPA                                    | Banco BPM SpA                                                                    | CUSIP: 000000000<br>LEI: 815600E4E6DCD2D25E30 | Long             | DBT              | CORP              | IT        |    100000 | PA      | $93223.14     | 0.02%             | 2031-06-29      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| STATION CASINOS LLC                              | Station Casinos LLC                                                              | CUSIP: 857691AH2<br>LEI: 5493004E7Q60TX54WL62 | Long             | DBT              | CORP              | US        |    354000 | PA      | $298392.26    | 0.05%             | 2031-12-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                    | TransDigm Inc                                                                    | CUSIP: 893647BK2<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    825000 | PA      | $841161.75    | 0.15%             | 2025-12-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Renaissance Holding Corp.                        | Renaissance Holding Corp. 2018 1st Lien Term Loan                                | CUSIP: 75972JAB0<br>LEI: 549300UKKEC0Y6TXNF09 | Long             | LON              | CORP              | US        |     17766 | PA      | $17404.36     | 0.00%             | 2025-05-30      | Floating      | 7.82%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF GUATEMALA                            | Guatemala Government Bond                                                        | CUSIP: 401494AS8<br>LEI: 529900QKDFFU9UWW5315 | Long             | DBT              | NUSS              | GT        |    200000 | PA      | $195162.50    | 0.03%             | 2032-04-24      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| VICI PROPERTIES / NOTE                           | VICI Properties LP / VICI Note Co Inc                                            | CUSIP: 92564RAE5<br>LEI: N/A                  | Long             | DBT              |  | US        |    488000 | PA      | $436509.55    | 0.08%             | 2030-08-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                           | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCE1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    816000 | PA      | $697239.36    | 0.12%             | 2030-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| KONTOOR BRANDS INC                               | Kontoor Brands Inc                                                               | CUSIP: 50050NAA1<br>LEI: 549300M0CPXV65RFF271 | Long             | DBT              | CORP              | US        |    126000 | PA      | $108986.22    | 0.02%             | 2029-11-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| MASTR Asset Backed Securities Trust              | Mastr Asset Backed Securities Trust 2006-HE2                                     | CUSIP: 57644UAE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   7204640 | PA      | $2807831.90   | 0.49%             | 2036-06-25      | Floating      | 4.81%                 | No            |                  2 | On Loan: No      |
| Republic of Senegal                              | Senegal Government International Bond                                            | CUSIP: 000000000<br>LEI: 549300NP14ZLQGWIUZ97 | Long             | DBT              | NUSS              | SN        |    231000 | PA      | $199815.00    | 0.03%             | 2033-05-23      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE SA                                 | Altice France SA/France                                                          | CUSIP: 02156LAA9<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |    570000 | PA      | $534340.80    | 0.09%             | 2027-02-01      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                          | RRP NORTHROP GR                                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -410750 | PA      | $-410750.00   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| API GROUP DE INC                                 | APi Group DE Inc                                                                 | CUSIP: 001877AA7<br>LEI: 549300XP4G7B4QYA0G83 | Long             | DBT              | CORP              | US        |    168000 | PA      | $145429.20    | 0.03%             | 2029-07-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP FORD MOTOR                                                                   | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -244400 | PA      | $-244400.00   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| Navient Corp                                     | Navient Corp                                                                     | CUSIP: 78442FET1<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |    105000 | PA      | $104753.25    | 0.02%             | 2024-03-25      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                          | RRP TRANSDIGM I                                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |  -5694080 | PA      | $-5694080.00  | -1.00%            |  |  |  | No            |                  2 | On Loan: No      |
| DCP MIDSTREAM OPERATING                          | DCP Midstream Operating LP                                                       | CUSIP: 23311RAA4<br>LEI: 549300Y6CTBSE0QIPL28 | Long             | DBT              | CORP              | US        |    323000 | PA      | $353830.35    | 0.06%             | 2037-09-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                       | Verus Securitization Trust 2022-3                                                | CUSIP: 92538UAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    507335 | PA      | $487022.32    | 0.09%             | 2067-02-25      | Variable      | 4.13%                 | No            |                  2 | On Loan: No      |
| SIMMONS FOOD INC/SIMMONS                         | Simmons Foods Inc/Simmons Prepared Foods Inc/Simmons Pet Food Inc/Simmons Feed   | CUSIP: 82873MAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    159000 | PA      | $134805.77    | 0.02%             | 2029-03-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| WESTERN MIDSTREAM OPERAT                         | Western Midstream Operating LP                                                   | CUSIP: 958254AD6<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |    934000 | PA      | $822116.14    | 0.14%             | 2044-04-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP WELLS FARGO                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |  -6886000 | PA      | $-6886000.00  | -1.21%            |  |  |  | No            |                  2 | On Loan: No      |
| Aruba Investments, Inc.                          | Aruba Investments, Inc. 2020 2nd Lien Term Loan                                  | CUSIP: 04317JAF5<br>LEI: 254900GMIYFF4FZ0A357 | Long             | LON              | CORP              | US        |    117800 | PA      | $105823.27    | 0.02%             | 2028-11-24      | Floating      | 12.30%                | No            |                  2 | On Loan: No      |
| JP MORGAN SECURITIES LLC                         | RRP CLARIVATE S                                                                  | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | Short            | RA               | CORP              | US        |   -864675 | PA      | $-864675.00   | -0.15%            |  |  |  | No            |                  2 | On Loan: No      |
| KEN GARFF AUTOMOTIVE LLC                         | Ken Garff Automotive LLC                                                         | CUSIP: 48850PAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    156000 | PA      | $134355.00    | 0.02%             | 2028-09-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| ENLINK MIDSTREAM PARTNER                         | EnLink Midstream Partners LP                                                     | CUSIP: 29336UAF4<br>LEI: 88CPW63VL7KHJWS0NY83 | Long             | DBT              | CORP              | US        |    160000 | PA      | $155131.78    | 0.03%             | 2026-07-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| SHELL INTERNATIONAL FIN                          | Shell International Finance BV                                                   | CUSIP: 822582BF8<br>LEI: 213800ITMMKU4Z7I4F78 | Long             | DBT              | CORP              | NL        |    450000 | PA      | $423843.37    | 0.07%             | 2045-05-11      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| SABLE INTL FINANCE LTD                           | Sable International Finance Ltd                                                  | CUSIP: 785712AG5<br>LEI: 2138009IE9A35LO5JS73 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $189000.00    | 0.03%             | 2027-09-07      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| YUM! BRANDS INC                                  | Yum! Brands Inc                                                                  | CUSIP: 988498AR2<br>LEI: 549300JE8XHZZ7OHN517 | Long             | DBT              | CORP              | US        |     49000 | PA      | $46490.22     | 0.01%             | 2032-04-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP MEXICO UNI                                                                   | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -726415 | PA      | $-726415.31   | -0.13%            |  |  |  | No            |                  2 | On Loan: No      |
| RADIATE HOLDCO / FINANCE                         | Radiate Holdco LLC / Radiate Finance Inc                                         | CUSIP: 75026JAE0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1701000 | PA      | $886203.99    | 0.16%             | 2028-09-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Carrington Mortgage Loan Trust                   | Carrington Mortgage Loan Trust Series 2006-FRE2                                  | CUSIP: 14454AAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2996221 | PA      | $2320664.89   | 0.41%             | 2036-10-25      | Floating      | 4.63%                 | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE BANK                             | SWAP/CDSWAP/SCDS: (ADRBID)                                                       | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DCR              |  | XX        |     27396 | OU      | $-4186.64     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                          | RRP TEACHERS IN                                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -576625 | PA      | $-576625.00   | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                          | RRP VIATRIS INC                                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -582562 | PA      | $-582562.50   | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| Fremont Home Loan Trust                          | Fremont Home Loan Trust 2006-A                                                   | CUSIP: 35729RAE6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4174217 | PA      | $2430613.58   | 0.43%             | 2036-05-25      | Floating      | 4.83%                 | No            |                  2 | On Loan: No      |
| Verscend Escrow Corp                             | Verscend Escrow Corp                                                             | CUSIP: 92535WAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2007000 | PA      | $2013979.34   | 0.35%             | 2026-08-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| Mauser Packaging Solut                           | Mauser Packaging Solutions Holding Co                                            | CUSIP: 12429TAD6<br>LEI: 549300DNGHXL0OMHW304 | Long             | DBT              | CORP              | US        |   1030000 | PA      | $1029279.00   | 0.18%             | 2024-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ILIAD HOLDING SAS                                | Iliad Holding SASU                                                               | CUSIP: 449691AC8<br>LEI: 9695009PXA7OI9NXN582 | Long             | DBT              | CORP              | FR        |    608000 | PA      | $571021.44    | 0.10%             | 2028-10-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| FAURECIA                                         | Faurecia SE                                                                      | CUSIP: 000000000<br>LEI: 969500F0VMZLK2IULV85 | Long             | DBT              | CORP              | FR        |    100000 | PA      | $96234.55     | 0.02%             | 2027-02-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| TELENET FINANCE LUX NOTE                         | Telenet Finance Luxembourg Notes Sarl                                            | CUSIP: 000000000<br>LEI: 2138007RI9GLJPCC3E25 | Long             | DBT              | CORP              | LU        |    400000 | PA      | $371600.00    | 0.07%             | 2028-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CANPACK SA/CANPACK US                            | Canpack SA / Canpack US LLC                                                      | CUSIP: 13805AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    211000 | PA      | $190068.80    | 0.03%             | 2025-11-01      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC           | PURCHASED USD / SOLD GBP                                                         | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | US        |         1 | NC      | $-11208.10    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Hub International Limited                        | Hub International Limited 2021 Term Loan B                                       | CUSIP: 44332EAU0<br>LEI: 549300JQT6ATTUNS5E06 | Long             | LON              | CORP              | US        |    124888 | PA      | $124720.68    | 0.02%             | 2025-04-25      | Floating      | 8.06%                 | No            |                  2 | On Loan: No      |
| VIASAT INC                                       | Viasat Inc                                                                       | CUSIP: 92552VAK6<br>LEI: UFC8NYMNFSYIHNSM2I38 | Long             | DBT              | CORP              | US        |    410000 | PA      | $385400.00    | 0.07%             | 2025-09-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| GFL ENVIRONMENTAL INC                            | GFL Environmental Inc                                                            | CUSIP: 36168QAL8<br>LEI: 549300FYK4MBXWIVZU26 | Long             | DBT              | CORP              | CA        |    567000 | PA      | $503354.25    | 0.09%             | 2028-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| EMPRESAS PUBLIC MEDELLIN                         | Empresas Publicas de Medellin ESP                                                | CUSIP: 29246BAE8<br>LEI: 549300SU25TO8EMXB434 | Long             | DBT              | CORP              | CO        |    309000 | PA      | $253244.81    | 0.04%             | 2029-07-18      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                      | Freddie Mac Pool                                                                 | CUSIP: 31329KAJ3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      2638 | PA      | $2649.71      | 0.00%             | 2023-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                | RRP NEXTERA ENE                                                                  | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Short            | RA               | CORP              | US        |   -803750 | PA      | $-803750.00   | -0.14%            |  |  |  | No            |                  2 | On Loan: No      |
| Oracle Corp                                      | Oracle Corp                                                                      | CUSIP: 68389XBV6<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    120000 | PA      | $105554.99    | 0.02%             | 2030-04-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Clear Channel Outdoor Holdings, Inc.             | Clear Channel Outdoor Holdings, Inc. Term Loan B                                 | CUSIP: 18452RAD7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1108046 | PA      | $1052122.61   | 0.18%             | 2026-08-21      | Floating      | 8.33%                 | No            |                  2 | On Loan: No      |
| ARES CLO Ltd                                     | Ares XL CLO Ltd                                                                  | CUSIP: 04016GBB3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    955318 | PA      | $947145.61    | 0.17%             | 2029-01-15      | Floating      | 5.66%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                      | Freddie Mac Pool                                                                 | CUSIP: 31329PTF0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      9875 | PA      | $9915.93      | 0.00%             | 2048-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| UBER TECHNOLOGIES INC                            | Uber Technologies Inc                                                            | CUSIP: 90353TAE0<br>LEI: 549300B2FTG34FILDR98 | Long             | DBT              | CORP              | US        |   1157000 | PA      | $1174783.09   | 0.21%             | 2027-09-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| REGAL REXNORD CORP                               | Regal Rexnord Corp                                                               | CUSIP: 758750AF0<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | DBT              | CORP              | US        |    385000 | PA      | $394750.35    | 0.07%             | 2033-04-15      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| Rockford Tower CLO Ltd                           | Rockford Tower CLO 2017-2 Ltd                                                    | CUSIP: 77340GAQ4<br>LEI: 549300G18KVCW7VUKI86 | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $472918.40    | 0.08%             | 2029-10-15      | Floating      | 7.64%                 | No            |                  2 | On Loan: No      |
| Navient Corp                                     | Navient Corp                                                                     | CUSIP: 63938CAE8<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |     91000 | PA      | $91958.23     | 0.02%             | 2023-09-25      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| ELASTIC NV                                       | Elastic NV                                                                       | CUSIP: 28415LAA1<br>LEI: 2549003I48WHHH937I59 | Long             | DBT              | CORP              | NL        |    481000 | PA      | $411624.17    | 0.07%             | 2029-07-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| CSC Holdings LLC                                 | CSC Holdings LLC                                                                 | CUSIP: 126307AZ0<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    368000 | PA      | $318386.24    | 0.06%             | 2029-02-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| PARAMOUNT GLOBAL                                 | Paramount Global                                                                 | CUSIP: 92553PAU6<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |    645000 | PA      | $573905.18    | 0.10%             | 2043-09-01      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| ABERTIS FINANCE BV                               | Abertis Infraestructuras Finance BV                                              | CUSIP: 000000000<br>LEI: 5493007WHKI5H75YJ358 | Long             | DBT              | CORP              | NL        |    100000 | PA      | $97833.53     | 0.02%             | 2025-11-24      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP GARTNER INC                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -243425 | PA      | $-243425.00   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLICA ORIENT URUGUAY                         | Uruguay Government International Bond                                            | CUSIP: 760942BE1<br>LEI: 549300RDR012H2V82H43 | Long             | DBT              | NUSS              | UY        |    370495 | PA      | $410693.71    | 0.07%             | 2034-10-28      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                          | RRP UNITED RENT                                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |  -1930706 | PA      | $-1930706.25  | -0.34%            |  |  |  | No            |                  2 | On Loan: No      |
| ZIGGO BV                                         | Ziggo BV                                                                         | CUSIP: 98955DAA8<br>LEI: 213800TQASLF9JXH5J59 | Long             | DBT              | CORP              | NL        |    217000 | PA      | $189015.68    | 0.03%             | 2030-01-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| BROOKFIELD RESID PROPERT                         | Brookfield Residential Properties Inc / Brookfield Residential US LLC            | CUSIP: 11283YAD2<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    476000 | PA      | $368882.65    | 0.06%             | 2030-02-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                         | Ford Motor Credit Co LLC                                                         | CUSIP: 345397C68<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    400000 | PA      | $419840.00    | 0.07%             | 2030-03-06      | Fixed         | 7.35%                 | No            |                  2 | On Loan: No      |
| ATI INC                                          | ATI Inc                                                                          | CUSIP: 01741RAH5<br>LEI: ZW1LRE7C3H17O2ZN9B45 | Long             | DBT              | CORP              | US        |     90000 | PA      | $86840.32     | 0.02%             | 2027-12-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                          | RRP LOWES COMPA                                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -352500 | PA      | $-352500.00   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| Scholar Funding Trust                            | SCHOLAR FUNDING TRUST EQUITY                                                     | CUSIP: 80705X107<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |        42 | PA      | $774495.12    | 0.14%             | N/A             | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| NOMURA SECURITIES INTERNATIONAL INC              | RRP MOLINA HEAL                                                                  | CUSIP: 000000000<br>LEI: OXTKY6Q8X53C9ILVV871 | Short            | RA               | CORP              | US        |   -228620 | PA      | $-228620.00   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| ADLER GROUP SA                                   | ADLER Group SA                                                                   | CUSIP: 000000000<br>LEI: 391200OYYFJ3DWAMEC69 | Long             | DBT              | CORP              | LU        |    200000 | PA      | $89059.35     | 0.02%             | 2026-11-13      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Murphy Oil Corp                                  | Murphy Oil Corp                                                                  | CUSIP: 626717AG7<br>LEI: QBKYQD0ODE7DC7PDIN91 | Long             | DBT              | CORP              | US        |     35000 | PA      | $28638.84     | 0.01%             | 2042-12-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| NOMURA SECURITIES INTERNATIONAL INC              | RRP WESTERN GAS                                                                  | CUSIP: 000000000<br>LEI: OXTKY6Q8X53C9ILVV871 | Short            | RA               | CORP              | US        |   -709840 | PA      | $-709840.00   | -0.12%            |  |  |  | No            |                  2 | On Loan: No      |
| SAUDI INTERNATIONAL BOND                         | Saudi Government International Bond                                              | CUSIP: 000000000<br>LEI: 635400FMICXSM3SI3H65 | Long             | DBT              | NUSS              | SA        |    200000 | PA      | $163350.00    | 0.03%             | 2033-02-02      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Magenta Buyer LLC                                | Magenta Buyer LLC 2021 USD 2nd Lien Term Loan                                    | CUSIP: 55910RAE3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    530000 | PA      | $419585.10    | 0.07%             | 2029-07-27      | Floating      | 13.08%                | No            |                  2 | On Loan: No      |
| VISTRA CORP                                      | Vistra Operations Co LLC                                                         | CUSIP: 92840VAF9<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |     18000 | PA      | $16939.44     | 0.00%             | 2027-07-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                     | UBS Group AG                                                                     | CUSIP: 902613AG3<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   1750000 | PA      | $1510314.31   | 0.26%             | 2026-06-02      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Countrywide Alternative Loan Trust               | Alternative Loan Trust 2007-4CB                                                  | CUSIP: 02148FAC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1675254 | PA      | $1288876.29   | 0.23%             | 2037-04-25      | Floating      | 4.86%                 | No            |                  2 | On Loan: No      |
| UNITED AIR 2020-1 A PTT                          | United Airlines 2020-1 Class A Pass Through Trust                                | CUSIP: 90931GAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    681344 | PA      | $689441.37    | 0.12%             | 2027-10-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                          | RRP APTIV PLC 4                                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -200900 | PA      | $-200900.00   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| BlackRock Liquidity Funds                        | BlackRock Liquidity Funds: T-Fund, Institutional Shares                          | CUSIP: 09248U718<br>LEI: 5493007YVNX55LTRQ706 | Long             | STIV             | RF                | US        |  14503120 | NS      | $14503119.90  | 2.54%             |  |  |  | No            |                  1 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO                         | Clear Channel Outdoor Holdings Inc                                               | CUSIP: 18453HAD8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    794000 | PA      | $647110.00    | 0.11%             | 2029-06-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Iron Mountain UK PLC                             | Iron Mountain UK PLC                                                             | CUSIP: 000000000<br>LEI: 213800OT3BUEZ7P7XW26 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $114976.03    | 0.02%             | 2025-11-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| PRA Health Sciences Inc                          | PRA Health Sciences Inc                                                          | CUSIP: 45569KAA1<br>LEI: 549300R1HR1VWWHIAK47 | Long             | DBT              | CORP              | US        |    563000 | PA      | $515240.71    | 0.09%             | 2026-07-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| ADAPTHEALTH LLC                                  | AdaptHealth LLC                                                                  | CUSIP: 00653VAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     97000 | PA      | $91762.39     | 0.02%             | 2028-08-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| CENTRAL GARDEN & PET CO                          | Central Garden & Pet Co                                                          | CUSIP: 153527AN6<br>LEI: 5493004DVZLD37DJ0H83 | Long             | DBT              | CORP              | US        |    244000 | PA      | $207473.20    | 0.04%             | 2030-10-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| ABJA Investment Co                               | ABJA Investment Co Pte Ltd                                                       | CUSIP: 000000000<br>LEI: 254900E6OE5YJ9WCCU19 | Long             | DBT              | CORP              | SG        |    250000 | PA      | $248125.00    | 0.04%             | 2024-07-31      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP/US FIN                         | Clarios Global LP / Clarios US Finance Co                                        | CUSIP: 69867DAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1265000 | PA      | $1256651.00   | 0.22%             | 2026-05-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Countrywide Alternative Loan Trust               | Alternative Loan Trust 2006-40T1                                                 | CUSIP: 02148KAU8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2255721 | PA      | $482522.46    | 0.08%             | 2036-12-25      | Floating      | 4.91%                 | No            |                  2 | On Loan: No      |
| SOUTHWESTERN ENERGY CO                           | Southwestern Energy Co                                                           | CUSIP: 845467AR0<br>LEI: EFWMP121W54QV9MGOP87 | Long             | DBT              | CORP              | US        |    296000 | PA      | $278134.92    | 0.05%             | 2029-02-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| ALLIED UNIVERSAL                                 | Allied Universal Holdco LLC / Allied Universal Finance Corp                      | CUSIP: 019576AB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    812000 | PA      | $775460.00    | 0.14%             | 2027-07-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK SA | RRP FNMA 30YR U                                                                  | CUSIP: 000000000<br>LEI: 1VUV7VQFKUOQSJ21A208 | Short            | RA               | CORP              | US        | -41413378 | PA      | $-41413378.04 | -7.25%            |  |  |  | No            |                  2 | On Loan: No      |
| SERVICE CORP INTL                                | Service Corp International/US                                                    | CUSIP: 817565CG7<br>LEI: 549300RKVM2ME20JHZ15 | Long             | DBT              | CORP              | US        |    454000 | PA      | $397013.92    | 0.07%             | 2031-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SPECTRUM BRANDS INC                              | Spectrum Brands Inc                                                              | CUSIP: 84762LAW5<br>LEI: 549300VU3EH2E73C1Q04 | Long             | DBT              | CORP              | US        |    198000 | PA      | $179849.34    | 0.03%             | 2030-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| VICI PROPERTIES / NOTE                           | VICI Properties LP / VICI Note Co Inc                                            | CUSIP: 92564RAA3<br>LEI: N/A                  | Long             | DBT              |  | US        |    135000 | PA      | $127406.39    | 0.02%             | 2026-12-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| LSF11 A5 HOLDCO LLC                              | LSF11 A5 HoldCo LLC                                                              | CUSIP: 50221DAA7<br>LEI: 254900FPK7P5WNA66Y10 | Long             | DBT              | CORP              | US        |    170000 | PA      | $139501.19    | 0.02%             | 2029-10-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| ZF FINANCE GMBH                                  | ZF Finance GmbH                                                                  | CUSIP: 000000000<br>LEI: 5493001N9T6QDCCXB426 | Long             | DBT              | CORP              | DE        |    100000 | PA      | $93090.51     | 0.02%             | 2027-05-06      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL INTL BV                            | Clear Channel International BV                                                   | CUSIP: 18452MAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | NL        |    507000 | PA      | $493483.38    | 0.09%             | 2025-08-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| MEDLINE BORROWER LP                              | Medline Borrower LP                                                              | CUSIP: 62482BAB8<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |   1344000 | PA      | $1125311.32   | 0.20%             | 2029-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Countrywide Alternative Loan Trust               | Alternative Loan Trust 2006-7CB                                                  | CUSIP: 12668BYM9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1427090 | PA      | $727633.29    | 0.13%             | 2036-05-25      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| AMS-OSRAM AG                                     | ams-OSRAM AG                                                                     | CUSIP: 000000000<br>LEI: 5299001JPPT2QFTV5D76 | Long             | DBT              | CORP              | AT        |    100000 | PA      | $104655.61    | 0.02%             | 2025-07-31      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Digicel International Finance Limited            | Digicel International Finance Limited 2017 Term Loan B                           | CUSIP: 000000000<br>LEI: 5493007V023VOEW4FK27 | Long             | LON              | CORP              | LC        |    702128 | PA      | $592715.28    | 0.10%             | 2024-05-28      | Floating      | 7.80%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                            | Level 3 Financing Inc                                                            | CUSIP: 527298BT9<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    221000 | PA      | $161559.84    | 0.03%             | 2029-07-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| OT MERGER CORP                                   | OT Merger Corp                                                                   | CUSIP: 688777AA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    147000 | PA      | $94388.70     | 0.02%             | 2029-10-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| CHARLES RIVER LABORATORI                         | Charles River Laboratories International Inc                                     | CUSIP: 159864AJ6<br>LEI: 549300BSQ0R4UZ5KX287 | Long             | DBT              | CORP              | US        |     55000 | PA      | $48523.19     | 0.01%             | 2031-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                      | SWP: USD 1.545000 08-OCT-2031                                                    | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |  28600000 | OU      | $-4115595.63  | -0.72%            |  |  |  | No            |                  2 | On Loan: No      |
| REGAL REXNORD CORP                               | Regal Rexnord Corp                                                               | CUSIP: 758750AC7<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | DBT              | CORP              | US        |    115000 | PA      | $116865.79    | 0.02%             | 2026-02-15      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| FASTIGHETS AB BALDER                             | Fastighets AB Balder                                                             | CUSIP: 000000000<br>LEI: 549300GHKJCEZOAEUU82 | Long             | DBT              | CORP              | SE        |    100000 | PA      | $83275.71     | 0.01%             | 2081-06-02      | Fixed         | 2.87%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                      | RRP FNMA 30YR F                                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |  -1138738 | PA      | $-1138737.60  | -0.20%            |  |  |  | No            |                  2 | On Loan: No      |
| AHEAD DB HOLDINGS LLC                            | Ahead DB Holdings LLC                                                            | CUSIP: 00867FAA6<br>LEI: 254900L07WFL833JX193 | Long             | DBT              | CORP              | US        |    190000 | PA      | $160550.00    | 0.03%             | 2028-05-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES USA, INC.                        | RRP BROADCOM IN                                                                  | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | Short            | RA               | CORP              | US        |   -210835 | PA      | $-210835.00   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| KBR INC                                          | KBR Inc                                                                          | CUSIP: 48242WAC0<br>LEI: 254900OFQDXZRKRCV808 | Long             | DBT              | CORP              | US        |    268000 | PA      | $241961.65    | 0.04%             | 2028-09-30      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                          | Royal Caribbean Cruises Ltd                                                      | CUSIP: 780153BK7<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |    173000 | PA      | $150489.59    | 0.03%             | 2027-07-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| FREEPORT LNG INVESTMENTS, LLLP                   | Freeport LNG Investments, LLLP Term Loan B                                       | CUSIP: 35670CAB4<br>LEI: 549300LR5YVRZH4YPQ33 | Long             | LON              | CORP              | US        |    322161 | PA      | $312093.82    | 0.05%             | 2028-12-21      | Floating      | 8.31%                 | No            |                  2 | On Loan: No      |
| RLJ LODGING TRUST LP                             | RLJ Lodging Trust LP                                                             | CUSIP: 74965LAA9<br>LEI: 549300RX5I8Z6I6LDZ74 | Long             | DBT              |  | US        |    173000 | PA      | $158030.28    | 0.03%             | 2026-07-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| ROCKCLIFF ENERGY II LLC                          | Rockcliff Energy II LLC                                                          | CUSIP: 77289KAA3<br>LEI: 5493007AZNVKZ5HEMT23 | Long             | DBT              | CORP              | US        |    479000 | PA      | $455644.03    | 0.08%             | 2029-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Dryden Senior Loan Fund                          | Dryden XXVI Senior Loan Fund                                                     | CUSIP: 26250UAQ8<br>LEI: 549300ENU7ZZLTPT3E22 | Long             | ABS-CBDO         | CORP              | KY        |    437775 | PA      | $434304.58    | 0.08%             | 2029-04-15      | Floating      | 5.69%                 | No            |                  2 | On Loan: No      |
| NOMURA SECURITIES INTERNATIONAL INC              | RRP CCO HOLDING                                                                  | CUSIP: 000000000<br>LEI: OXTKY6Q8X53C9ILVV871 | Short            | RA               | CORP              | US        |   -260205 | PA      | $-260205.00   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| IQVIA Inc                                        | IQVIA Inc                                                                        | CUSIP: 449934AD0<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |    548000 | PA      | $534300.00    | 0.09%             | 2026-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HUSKY III HOLDING LTD                            | Husky III Holding Ltd                                                            | CUSIP: 44810RAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    587000 | PA      | $544031.60    | 0.10%             | 2025-02-15      | Fixed         | 13.00%                | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                         | CHS/Community Health Systems Inc                                                 | CUSIP: 12543DBG4<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |    132000 | PA      | $116846.40    | 0.02%             | 2027-03-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                 | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DFE              |  | US        |         1 | NC      | $-115010.04   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| MAF SUKUK LTD                                    | MAF Sukuk Ltd                                                                    | CUSIP: 000000000<br>LEI: 549300IS9H0W5N2N4K34 | Long             | DBT              | CORP              | KY        |    325000 | PA      | $323029.69    | 0.06%             | 2029-05-14      | Fixed         | 4.64%                 | No            |                  2 | On Loan: No      |
| GLOBAL PAYMENTS INC                              | Global Payments Inc                                                              | CUSIP: 37940XAD4<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |    748000 | PA      | $641967.04    | 0.11%             | 2030-05-15      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| JP MORGAN SECURITIES LLC                         | RRP ZOOMINFO TE                                                                  | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | Short            | RA               | CORP              | US        |   -744388 | PA      | $-744387.50   | -0.13%            |  |  |  | No            |                  2 | On Loan: No      |
| LOWE'S COS INC                                   | Lowe's Cos Inc                                                                   | CUSIP: 548661CX3<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |    400000 | PA      | $371121.10    | 0.06%             | 2042-04-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                          | RRP KINDER MORG                                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |  -2331250 | PA      | $-2331250.00  | -0.41%            |  |  |  | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                          | RRP HSBC HOLDIN                                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -340862 | PA      | $-340862.50   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| SCIL IV LLC / SCIL USA H                         | SCIL IV LLC / SCIL USA Holdings LLC                                              | CUSIP: 78397UAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    305000 | PA      | $279550.80    | 0.05%             | 2026-11-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| SBA COMMUNICATIONS CORP                          | SBA Communications Corp                                                          | CUSIP: 78410GAG9<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | DBT              | CORP              | US        |    920000 | PA      | $779407.90    | 0.14%             | 2029-02-01      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                          | RRP GILEAD SCIE                                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -649250 | PA      | $-649250.00   | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| Sabre GLBL Inc.                                  | Sabre GLBL Inc. 2021 Term Loan B2                                                | CUSIP: 78571YBF6<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | LON              | CORP              | US        |     96534 | PA      | $88751.42     | 0.02%             | 2027-12-17      | Floating      | 8.07%                 | No            |                  2 | On Loan: No      |
| CDW LLC/CDW FINANCE                              | CDW LLC / CDW Finance Corp                                                       | CUSIP: 12513GBF5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    351000 | PA      | $304037.51    | 0.05%             | 2029-02-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| STANDARD INDUSTRIES INC                          | Standard Industries Inc/NJ                                                       | CUSIP: 853496AH0<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |    384000 | PA      | $304979.64    | 0.05%             | 2031-01-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| TRANSOCEAN TITAN FIN LTD                         | Transocean Titan Financing Ltd                                                   | CUSIP: 89386MAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    228000 | PA      | $236600.16    | 0.04%             | 2028-02-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| CHESAPEAKE ENERGY CORP                           | Chesapeake Energy Corp                                                           | CUSIP: 165167DG9<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | DBT              | CORP              | US        |     53000 | PA      | $50753.86     | 0.01%             | 2029-02-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Alliant Holdings Intermediate, LLC               | Alliant Holdings Intermediate, LLC 2018 Term Loan B                              | CUSIP: 01881UAE5<br>LEI: 5493006Q26653NF8SI73 | Long             | LON              | CORP              | US        |    245870 | PA      | $245511.21    | 0.04%             | 2025-05-09      | Floating      | 7.82%                 | No            |                  2 | On Loan: No      |
| KLABIN AUSTRIA GMBH                              | Klabin Austria GmbH                                                              | CUSIP: 49836AAC8<br>LEI: 984500578YEA8DD41B09 | Long             | DBT              | CORP              | AT        |    315000 | PA      | $256725.00    | 0.04%             | 2031-01-12      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| WHITE CAP PARENT LLC                             | White Cap Parent LLC                                                             | CUSIP: 96351CAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    324000 | PA      | $295650.00    | 0.05%             | 2026-03-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| VICI PROPERTIES / NOTE                           | VICI Properties LP / VICI Note Co Inc                                            | CUSIP: 92564RAL9<br>LEI: N/A                  | Long             | DBT              |  | US        |     64000 | PA      | $57654.82     | 0.01%             | 2029-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Aramark Services Inc                             | Aramark Services Inc                                                             | CUSIP: 038522AP3<br>LEI: 42YMHYH0XMHJEXDUB065 | Long             | DBT              | CORP              | US        |    242000 | PA      | $238370.00    | 0.04%             | 2025-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                          | RRP UNION PACIF                                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -206594 | PA      | $-206593.75   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                   | NRG Energy Inc                                                                   | CUSIP: 629377CS9<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |     25000 | PA      | $19460.06     | 0.00%             | 2032-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ELEC & POWER CO                         | Virginia Electric and Power Co                                                   | CUSIP: 927804FB5<br>LEI: CQKUMNNZVDJLRYV2PT43 | Long             | DBT              | CORP              | US        |    750000 | PA      | $821968.47    | 0.14%             | 2037-05-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ALBION FINANCING 1SARL /                         | Albion Financing 1 SARL / Aggreko Holdings Inc                                   | CUSIP: 013304AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    222000 | PA      | $199184.25    | 0.03%             | 2026-10-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                          | RRP FEDEX CORP                                                                   | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -430000 | PA      | $-430000.00   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| New Arclin U.S. Holding Corp.                    | New Arclin U.S. Holding Corp. 2021 Delayed Draw Term Loan                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     30545 | PA      | $27246.45     | 0.00%             | 2028-10-02      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| Yum! Brands Inc                                  | Yum! Brands Inc                                                                  | CUSIP: 988498AK7<br>LEI: 549300JE8XHZZ7OHN517 | Long             | DBT              | CORP              | US        |     85000 | PA      | $72751.17     | 0.01%             | 2043-11-01      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| COMMERCIAL METALS CO                             | Commercial Metals Co                                                             | CUSIP: 201723AQ6<br>LEI: 549300OQS2LO07ZJ7N73 | Long             | DBT              | CORP              | US        |     39000 | PA      | $34905.00     | 0.01%             | 2030-01-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| NOVA Chemicals Corp                              | NOVA Chemicals Corp                                                              | CUSIP: 66977WAQ2<br>LEI: 5493007M1XGU5E55ZJ25 | Long             | DBT              | CORP              | CA        |     80000 | PA      | $78800.00     | 0.01%             | 2024-06-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                      | RRP CCO HOLDING                                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -759375 | PA      | $-759375.00   | -0.13%            |  |  |  | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP CLEAR CHANN                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -680000 | PA      | $-680000.00   | -0.12%            |  |  |  | No            |                  2 | On Loan: No      |
| BANK OF AMERICA NA                               | SWAP/CDSWAP/SCDS: (TKAGR)                                                        | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DCR              |  | XX        |     20000 | OU      | $-95.72       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ARAMARK SERVICES INC                             | Aramark Services Inc                                                             | CUSIP: 038522AR9<br>LEI: 42YMHYH0XMHJEXDUB065 | Long             | DBT              | CORP              | US        |    105000 | PA      | $105026.25    | 0.02%             | 2025-05-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| REPSOL INTL FINANCE                              | Repsol International Finance BV                                                  | CUSIP: 000000000<br>LEI: 5493002YCY6HTK0OUR29 | Long             | DBT              | CORP              | NL        |    100000 | PA      | $98930.68     | 0.02%             | 2028-09-11      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE BANK                             | SWAP/CDSWAP/SCDS: (LADLN)                                                        | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DCR              |  | XX        |     60000 | OU      | $-3083.69     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                         | Occidental Petroleum Corp                                                        | CUSIP: 674599EA9<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    197000 | PA      | $231967.50    | 0.04%             | 2030-07-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| DIAMOND BC BV                                    | Diamond BC BV                                                                    | CUSIP: 25257DAA6<br>LEI: 549300SWLHWJF3D4N658 | Long             | DBT              | CORP              | NL        |    729000 | PA      | $613227.51    | 0.11%             | 2029-10-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Anchorage Capital CLO LTD                        | Anchorage Capital CLO 7 Ltd                                                      | CUSIP: 03328TBG9<br>LEI: 54930014PVHLSZJQK139 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $224043.70    | 0.04%             | 2031-01-28      | Floating      | 8.30%                 | No            |                  2 | On Loan: No      |
| Raytheon Technologies Corp                       | Raytheon Technologies Corp                                                       | CUSIP: 75513E101<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | EC               | CORP              | US        |     25650 | NS      | $2561152.50   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Onslow Bay Financial LLC                         | OBX 2022-NQM9 Trust                                                              | CUSIP: 67118LAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    602221 | PA      | $610719.84    | 0.11%             | 2062-09-25      | Variable      | 6.45%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                                   | Bombardier Inc                                                                   | CUSIP: 097751BV2<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |    907000 | PA      | $904832.27    | 0.16%             | 2026-06-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| Trimaran CAVU Ltd                                | Trimaran CAVU 2022-2 Ltd                                                         | CUSIP: 89625BAJ2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1100000 | PA      | $1094650.92   | 0.19%             | 2036-01-20      | Floating      | 10.47%                | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                      | FSWP: USD 1.657000 25-APR-2032                                                   | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |  10290000 | OU      | $1448680.58   | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| JP MORGAN SECURITIES LLC                         | RRP ALLIED UNIV                                                                  | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | Short            | RA               | CORP              | US        |   -364375 | PA      | $-364375.00   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| Sequa Mezzanine Holdings L.L.C.                  | Sequa Mezzanine Holdings L.L.C. 2020 Extended Term Loan                          | CUSIP: 81733HAE6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |         0 | PA      | $0.08         | 0.00%             | 2023-11-28      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| HELIOS SOFT/ION CORP SOL                         | Helios Software Holdings Inc / ION Corporate Solutions Finance Sarl              | CUSIP: 42329HAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    400000 | PA      | $321496.00    | 0.06%             | 2028-05-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| ADANI GREEN ENERGY LTD                           | Adani Green Energy Ltd                                                           | CUSIP: 000000000<br>LEI: 335800ZBBU81OH211H17 | Long             | DBT              | CORP              | IN        |    208000 | PA      | $158080.00    | 0.03%             | 2024-09-08      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| EIG PEARL HOLDINGS SARL                          | EIG Pearl Holdings Sarl                                                          | CUSIP: 28249NAA9<br>LEI: 549300KIMRL45BWA5H76 | Long             | DBT              | CORP              | LU        |    422000 | PA      | $365030.00    | 0.06%             | 2036-08-31      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP LAMB WESTON                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -326149 | PA      | $-326148.75   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| Apache Corp                                      | Apache Corp                                                                      | CUSIP: 037411BA2<br>LEI: 72ZZ1XRHOOU9P9X16K08 | Long             | DBT              | CORP              | US        |    800000 | PA      | $633304.00    | 0.11%             | 2043-04-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| WESCO DISTRIBUTION INC                           | WESCO Distribution Inc                                                           | CUSIP: 95081QAN4<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |    830000 | PA      | $843280.00    | 0.15%             | 2025-06-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| LIBERTY COSTA RICA SR SF                         | Liberty Costa Rica Senior Secured Finance                                        | CUSIP: 530371AA1<br>LEI: 549300W6O2PHTPCYQ751 | Long             | DBT              | CORP              | KY        |    345000 | PA      | $336030.00    | 0.06%             | 2031-01-15      | Fixed         | 10.88%                | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                          | RRP NGPL PIPECO                                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -268988 | PA      | $-268987.50   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| BANK OF AMERICA NA                               | SWAP/CDSWAP/SCDS: (ADLERR)                                                       | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DCR              |  | XX        |      9008 | OU      | $-1741.31     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| EMPRESA NACIONAL DEL PET                         | Empresa Nacional del Petroleo                                                    | CUSIP: 000000000<br>LEI: 549300YP3P0JZBLIV197 | Long             | DBT              | CORP              | CL        |    204000 | PA      | $191798.25    | 0.03%             | 2026-08-05      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| SUMMIT MATERIALS LLC/FIN                         | Summit Materials LLC / Summit Materials Finance Corp                             | CUSIP: 86614RAN7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    227000 | PA      | $213150.73    | 0.04%             | 2029-01-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SEASPAN CORP                                     | Seaspan Corp                                                                     | CUSIP: 81254UAK2<br>LEI: 5493007Z8Q1H45KT7W98 | Long             | DBT              | CORP              | MH        |    212000 | PA      | $159328.60    | 0.03%             | 2029-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                          | RRP GENESIS ENE                                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |    -41274 | PA      | $-41273.75    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| CLARIV SCI HLD CORP                              | Clarivate Science Holdings Corp                                                  | CUSIP: 18064PAC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1281000 | PA      | $1143039.37   | 0.20%             | 2028-07-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE BANK                             | SWAP/CDSWAP/SCDS: (SDFGR)                                                        | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DCR              |  | XX        |     30000 | OU      | $3625.66      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| H&E EQUIPMENT SERVICES                           | H&E Equipment Services Inc                                                       | CUSIP: 404030AJ7<br>LEI: 254900KVLRCDMQRYY541 | Long             | DBT              | CORP              | US        |     76000 | PA      | $66884.56     | 0.01%             | 2028-12-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| REKEEP SPA                                       | Rekeep SpA                                                                       | CUSIP: 000000000<br>LEI: 8156008737CA044FCB79 | Long             | DBT              | CORP              | IT        |    100000 | PA      | $92407.78     | 0.02%             | 2026-02-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| CENTENE CORP                                     | Centene Corp                                                                     | CUSIP: 15135BAW1<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |    770000 | PA      | $658350.00    | 0.12%             | 2030-10-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| TELEFLEX INC                                     | Teleflex Inc                                                                     | CUSIP: 879369AG1<br>LEI: UUL85LWXB4NGSWWXIQ25 | Long             | DBT              | CORP              | US        |    278000 | PA      | $256441.30    | 0.04%             | 2028-06-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| FORTRESS TRANS & INFRAST                         | Fortress Transportation and Infrastructure Investors LLC                         | CUSIP: 34960PAD3<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |    520000 | PA      | $457620.15    | 0.08%             | 2028-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Peraton Corp.                                    | Peraton Corp. 2nd Lien Term Loan B1                                              | CUSIP: 71360HAG2<br>LEI: 549300EQPCK07ZW63836 | Long             | LON              | CORP              | US        |    747454 | PA      | $722414.43    | 0.13%             | 2029-02-01      | Floating      | 12.22%                | No            |                  2 | On Loan: No      |
| LIVE NATION ENTERTAINMEN                         | Live Nation Entertainment Inc                                                    | CUSIP: 538034AV1<br>LEI: 5493007B9BM9ZXJINO78 | Long             | DBT              | CORP              | US        |   1554000 | PA      | $1562606.05   | 0.27%             | 2027-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP FORTRESS TR                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -269775 | PA      | $-269775.00   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| OWL ROCK CAPITAL CORP                            | Owl Rock Capital Corp                                                            | CUSIP: 69121KAC8<br>LEI: 2549000BD79OOCPF2L94 | Long             | DBT              | CORP              | US        |    238000 | PA      | $223209.28    | 0.04%             | 2025-07-22      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                          | Goldman Sachs Group Inc/The                                                      | CUSIP: 38145G308<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EP               | CORP              | US        |    395017 | NS      | $9855674.15   | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| VISTRA CORP                                      | Vistra Operations Co LLC                                                         | CUSIP: 92840VAB8<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    254000 | PA      | $245295.88    | 0.04%             | 2027-02-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| SPIRIT AEROSYSTEMS INC                           | Spirit AeroSystems Inc                                                           | CUSIP: 85205TAL4<br>LEI: ZD2NBKV6GCC3UMGBM518 | Long             | DBT              | CORP              | US        |     40000 | PA      | $40137.60     | 0.01%             | 2025-04-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| IND & COMM BK OF CHINA                           | Industrial & Commercial Bank of China Ltd                                        | CUSIP: 000000000<br>LEI: 5493002ERZU2K9PZDL40 | Long             | DBT              | CORP              | CN        |    210000 | PA      | $199169.25    | 0.03%             | 2026-09-24      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| IHEARTCOMMUNICATIONS INC                         | iHeartCommunications Inc                                                         | CUSIP: 45174HBG1<br>LEI: 54930076J6KDZL504O62 | Long             | DBT              | CORP              | US        |     96000 | PA      | $82085.04     | 0.01%             | 2028-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| AVIS BUDGET CAR/FINANCE                          | Avis Budget Car Rental LLC / Avis Budget Finance Inc                             | CUSIP: 053773BF3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     45000 | PA      | $40230.00     | 0.01%             | 2029-03-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| MATCH GROUP HLD II LLC                           | Match Group Holdings II LLC                                                      | CUSIP: 57665RAL0<br>LEI: 5493003RFFE030RC9167 | Long             | DBT              | CORP              | US        |    262000 | PA      | $225320.00    | 0.04%             | 2030-08-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                    | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |         1 | NC      | $-240.12      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| OWL ROCK CORE INCOME COR                         | OWL Rock Core Income Corp                                                        | CUSIP: 69120VAN1<br>LEI: 5493003I42XBWPE05N35 | Long             | DBT              | CORP              | US        |    395000 | PA      | $397987.42    | 0.07%             | 2027-09-16      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| ELEVANCE HEALTH INC                              | Elevance Health Inc                                                              | CUSIP: 94973VBG1<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | DBT              | CORP              | US        |     24000 | PA      | $171045.60    | 0.03%             | 2042-10-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                    | Carnival Corp                                                                    | CUSIP: 000000000<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    100000 | PA      | $113028.84    | 0.02%             | 2026-02-01      | Fixed         | 10.13%                | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP TRIVIUM PAC                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |  -1430975 | PA      | $-1430975.00  | -0.25%            |  |  |  | No            |                  2 | On Loan: No      |
| GoldenTree Loan Opportunities X, Limited         | Goldentree Loan Opportunities X Ltd                                              | CUSIP: 38137PAQ3<br>LEI: 549300IGEA8MXF2YEF61 | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $496320.20    | 0.09%             | 2031-07-20      | Floating      | 5.93%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                      | SWP: USD 1.930800 22-OCT-2051                                                    | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |   2840000 | OU      | $-703308.42   | -0.12%            |  |  |  | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                              | Petroleos Mexicanos                                                              | CUSIP: 71654QDE9<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    435000 | PA      | $347304.00    | 0.06%             | 2031-01-28      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Da Vinci Purchaser Corp.                         | Da Vinci Purchaser Corp. 2019 Term Loan                                          | CUSIP: 23343FAB0<br>LEI: 254900CEZYHAWVXDTS47 | Long             | LON              | CORP              | US        |     78320 | PA      | $75432.42     | 0.01%             | 2027-01-08      | Floating      | 8.57%                 | No            |                  2 | On Loan: No      |
| OQ SAOC                                          | OQ SAOC                                                                          | CUSIP: 67624L2A5<br>LEI: 549300YK417GKI6EQ392 | Long             | DBT              | CORP              | OM        |    300000 | PA      | $288525.00    | 0.05%             | 2028-05-06      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| EASY TACTIC LTD                                  | Easy Tactic Ltd                                                                  | CUSIP: 000000000<br>LEI: 549300WYFMC41MKE6E16 | Long             | DBT              | CORP              | VG        |    218268 | PA      | $69409.22     | 0.01%             | 2027-07-11      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                       | Fannie Mae Pool                                                                  | CUSIP: 3140JM3C4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    683064 | PA      | $681171.36    | 0.12%             | 2034-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| EDISON INTERNATIONAL                             | Edison International                                                             | CUSIP: 281020AT4<br>LEI: 549300I7ROF15MAEVP56 | Long             | DBT              | CORP              | US        |    220000 | PA      | $195599.80    | 0.03%             | 2026-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TD SECURITIES USA LLC                            | RRP BOEING CO 5                                                                  | CUSIP: 000000000<br>LEI: SUVUFHICNZMP2WKHG940 | Short            | RA               | CORP              | US        |  -1938806 | PA      | $-1938806.25  | -0.34%            |  |  |  | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                      | RRP MINERVA MER                                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -976449 | PA      | $-976448.75   | -0.17%            |  |  |  | No            |                  2 | On Loan: No      |
| LIFE TIME INC                                    | Life Time Inc                                                                    | CUSIP: 53190FAC9<br>LEI: 549300PALKE96VYH4X17 | Long             | DBT              | CORP              | US        |    312000 | PA      | $303025.32    | 0.05%             | 2026-04-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Formula One Holdings Limited.                    | Formula One Holdings Limited. Term Loan B                                        | CUSIP: 000000000<br>LEI: 549300BBG8Z3D6QSYP53 | Long             | LON              | CORP              | LU        |     60000 | PA      | $60137.40     | 0.01%             | 2030-01-15      | Variable      | 7.81%                 | No            |                  2 | On Loan: No      |
| VICI PROPERTIES / NOTE                           | VICI Properties LP / VICI Note Co Inc                                            | CUSIP: 92564RAH8<br>LEI: N/A                  | Long             | DBT              |  | US        |     10000 | PA      | $9531.90      | 0.00%             | 2026-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Oi SA                                            | Oi SA                                                                            | CUSIP: 000000000<br>LEI: 254900YEMWCRRAGD4978 | Long             | DBT              | CORP              | BR        |    383000 | PA      | $38491.50     | 0.01%             | 2025-07-27      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                         | Madison Park Funding XXV Ltd                                                     | CUSIP: 55820RAJ1<br>LEI: 254900B0583OW8RQ8N33 | Long             | ABS-CBDO         | CORP              | KY        |    980813 | PA      | $973915.16    | 0.17%             | 2029-04-25      | Floating      | 5.79%                 | No            |                  2 | On Loan: No      |
| GFL ENVIRONMENTAL INC                            | GFL Environmental Inc                                                            | CUSIP: 36168QAN4<br>LEI: 549300FYK4MBXWIVZU26 | Long             | DBT              | CORP              | CA        |    483000 | PA      | $435926.82    | 0.08%             | 2029-06-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                            | Tenet Healthcare Corp                                                            | CUSIP: 88033GDK3<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    235000 | PA      | $219743.80    | 0.04%             | 2028-10-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| MGM RESORTS INTL                                 | MGM Resorts International                                                        | CUSIP: 552953CC3<br>LEI: 54930066VBP7DZEGGJ87 | Long             | DBT              | CORP              | US        |    494000 | PA      | $493787.83    | 0.09%             | 2023-03-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK SA | RRP PANAMA REPU                                                                  | CUSIP: 000000000<br>LEI: 1VUV7VQFKUOQSJ21A208 | Short            | RA               | CORP              | US        |   -706860 | PA      | $-706860.00   | -0.12%            |  |  |  | No            |                  2 | On Loan: No      |
| KINGDOM OF MOROCCO                               | Morocco Government International Bond                                            | CUSIP: 617726AL8<br>LEI: 529900F3MBW9XY5K1X07 | Long             | DBT              | NUSS              | MA        |    500000 | PA      | $399375.00    | 0.07%             | 2032-12-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                       | Fannie Mae Pool                                                                  | CUSIP: 3140Q83T0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1261289 | PA      | $1268747.87   | 0.22%             | 2048-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PRECISION DRILLING CORP                          | Precision Drilling Corp                                                          | CUSIP: 740212AM7<br>LEI: 549300WF2OE8T5BP4B84 | Long             | DBT              | CORP              | CA        |     16000 | PA      | $15411.84     | 0.00%             | 2029-01-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Ecopetrol SA                                     | Ecopetrol SA                                                                     | CUSIP: 279158AK5<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | CORP              | CO        |    396000 | PA      | $382635.00    | 0.07%             | 2025-01-16      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| RLJ LODGING TRUST LP                             | RLJ Lodging Trust LP                                                             | CUSIP: 74965LAB7<br>LEI: 549300RX5I8Z6I6LDZ74 | Long             | DBT              |  | US        |    124000 | PA      | $103998.80    | 0.02%             | 2029-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ZAYO GROUP HOLDINGS INC                          | Zayo Group Holdings Inc                                                          | CUSIP: 98919VAB1<br>LEI: 529900Z6OTS7RT0V0I47 | Long             | DBT              | CORP              | US        |   2371000 | PA      | $1630062.50   | 0.29%             | 2028-03-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| BX Trust                                         | BX Commercial Mortgage Trust 2022-LP2                                            | CUSIP: 05610HAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1550411 | PA      | $1518611.87   | 0.27%             | 2039-02-15      | Floating      | 5.49%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                       | Fannie Mae Pool                                                                  | CUSIP: 3140X7HL6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     21789 | PA      | $21926.52     | 0.00%             | 2050-02-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Palmer Square Loan Funding Ltd                   | Palmer Square Loan Funding 2021-1 Ltd                                            | CUSIP: 69701YAA0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    267560 | PA      | $265240.53    | 0.05%             | 2029-04-20      | Floating      | 5.71%                 | No            |                  2 | On Loan: No      |
| MATTEL INC                                       | Mattel Inc                                                                       | CUSIP: 577081BF8<br>LEI: 549300VELLG24KHTJ564 | Long             | DBT              | CORP              | US        |     74000 | PA      | $66481.60     | 0.01%             | 2029-04-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| CONSENSUS CLOUD SOLUTION                         | Consensus Cloud Solutions Inc                                                    | CUSIP: 20848VAB1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     83000 | PA      | $77705.43     | 0.01%             | 2028-10-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| TAYLOR MORRISON COMM                             | Taylor Morrison Communities Inc                                                  | CUSIP: 87724RAJ1<br>LEI: 549300O1Z08HI2MRK572 | Long             | DBT              | CORP              | US        |     75000 | PA      | $68587.50     | 0.01%             | 2030-08-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                | RRP ALLSTATE CO                                                                  | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Short            | RA               | CORP              | US        |  -1682500 | PA      | $-1682500.00  | -0.29%            |  |  |  | No            |                  2 | On Loan: No      |
| SPX FLOW, INC.                                   | SPX Flow, Inc. 2022 Term Loan                                                    | CUSIP: 000000000<br>LEI: 5493003YXEKRBINIEM78 | Long             | LON              | CORP              | US        |    338980 | PA      | $326145.90    | 0.06%             | 2029-04-05      | Variable      | 9.16%                 | No            |                  2 | On Loan: No      |
| CSC Holdings LLC                                 | CSC Holdings LLC                                                                 | CUSIP: 126307AH0<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    687000 | PA      | $672466.52    | 0.12%             | 2024-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP DT MIDSTREA                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -318600 | PA      | $-318600.00   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                      | RRP POST HOLDIN                                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -313630 | PA      | $-313630.00   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                      | RRP CENTENE COR                                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -897110 | PA      | $-897110.00   | -0.16%            |  |  |  | No            |                  2 | On Loan: No      |
| LIONS GATE CAPITAL HOLD                          | Lions Gate Capital Holdings LLC                                                  | CUSIP: 53627NAE1<br>LEI: 549300MWJHNLR35C0837 | Long             | DBT              | CORP              | US        |    962000 | PA      | $625300.00    | 0.11%             | 2029-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NOMURA SECURITIES INTERNATIONAL INC              | RRP EARTHSTONE                                                                   | CUSIP: 000000000<br>LEI: OXTKY6Q8X53C9ILVV871 | Short            | RA               | CORP              | US        |   -366232 | PA      | $-366232.50   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                            | Level 3 Financing Inc                                                            | CUSIP: 527298BP7<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    573000 | PA      | $495914.68    | 0.09%             | 2027-03-01      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| POST HOLDINGS INC                                | Post Holdings Inc                                                                | CUSIP: 737446AP9<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |    190000 | PA      | $176200.96    | 0.03%             | 2029-12-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                       | Fannie Mae Pool                                                                  | CUSIP: 31418DNQ1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     10557 | PA      | $10496.56     | 0.00%             | 2050-04-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| United Group BV                                  | United Group BV                                                                  | CUSIP: 000000000<br>LEI: 213800PC85O8BJ7DU398 | Long             | DBT              | CORP              | NL        |    100000 | PA      | $104918.70    | 0.02%             | 2024-07-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Grupo Bimbo SAB de CV                            | Grupo Bimbo SAB de CV                                                            | CUSIP: 40052VAF1<br>LEI: 5493000RIXURZEBFEV60 | Long             | DBT              | CORP              | MX        |    287000 | PA      | $285514.78    | 0.05%             | 2023-04-17      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| ALLSTATE CORP                                    | Allstate Corp/The                                                                | CUSIP: 020002BB6<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1970900.00   | 0.34%             | 2053-08-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ENTEGRIS INC                                     | Entegris Inc                                                                     | CUSIP: 29362UAC8<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | DBT              | CORP              | US        |    223000 | PA      | $201815.00    | 0.04%             | 2028-04-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| NCL FINANCE LTD                                  | NCL Finance Ltd                                                                  | CUSIP: 62888HAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    333000 | PA      | $270562.50    | 0.05%             | 2028-03-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| Rad CLO Ltd                                      | Rad CLO 1 Ltd                                                                    | CUSIP: 48661AAJ5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    700000 | PA      | $691633.39    | 0.12%             | 2031-07-15      | Floating      | 5.77%                 | No            |                  2 | On Loan: No      |
| AES PANAMA GENERATION HL                         | AES Panama Generation Holdings SRL                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | PA        |    223000 | PA      | $198511.81    | 0.03%             | 2030-05-31      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Carrier Global Corp                              | Carrier Global Corp                                                              | CUSIP: 14448C104<br>LEI: 549300JE3W6CWY2NAN77 | Long             | EC               | CORP              | US        |     25650 | NS      | $1167844.50   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP BOMBARDIER                                                                   | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -588679 | PA      | $-588678.75   | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| Ascend Performance Materials Operations LLC      | Ascend Performance Materials Operations LLC 2021 Term Loan B                     | CUSIP: 04350TAC8<br>LEI: 549300NIMFUIRMMAGQ29 | Long             | LON              | CORP              | US        |    280762 | PA      | $276398.48    | 0.05%             | 2026-08-27      | Variable      | 8.83%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF CHILE                                | Chile Government International Bond                                              | CUSIP: 168863DY1<br>LEI: 549300FLZTJM5YJF8D34 | Long             | DBT              | NUSS              | CL        |    200000 | PA      | $177287.50    | 0.03%             | 2042-03-07      | Fixed         | 4.34%                 | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES/AADVAN                         | American Airlines Inc/AAdvantage Loyalty IP Ltd                                  | CUSIP: 00253XAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    266488 | PA      | $261244.82    | 0.05%             | 2026-04-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| VMED O2 UK FINAN                                 | Vmed O2 UK Financing I PLC                                                       | CUSIP: 000000000<br>LEI: 213800MRR46ECNGZ7L69 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $98350.57     | 0.02%             | 2031-07-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| IMOLA MERGER CORP                                | Imola Merger Corp                                                                | CUSIP: 45258LAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    683000 | PA      | $594210.00    | 0.10%             | 2029-05-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| TRANSOCEAN INC                                   | Transocean Inc                                                                   | CUSIP: 893830BX6<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | KY        |   1186000 | PA      | $1222766.00   | 0.21%             | 2030-02-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| NOMURA SECURITIES INTERNATIONAL INC              | RRP BOMBARDIER                                                                   | CUSIP: 000000000<br>LEI: OXTKY6Q8X53C9ILVV871 | Short            | RA               | CORP              | US        |   -619822 | PA      | $-619822.50   | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                     | UBS Group AG                                                                     | CUSIP: 902613AD0<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    210000 | PA      | $172179.00    | 0.03%             | 2031-02-10      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| MOTION BONDCO DAC                                | Motion Bondco DAC                                                                | CUSIP: 61978XAA5<br>LEI: 635400KFD3IETNQLA755 | Long             | DBT              | CORP              | IE        |    200000 | PA      | $180996.15    | 0.03%             | 2027-11-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| BANCO BILBAO VIZCAYA ARG                         | Banco Bilbao Vizcaya Argentaria SA                                               | CUSIP: 05946KAF8<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | DBT              | CORP              | ES        |   2000000 | PA      | $1853714.02   | 0.32%             | 2027-11-16      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| YUM! BRANDS INC                                  | Yum! Brands Inc                                                                  | CUSIP: 988498AL5<br>LEI: 549300JE8XHZZ7OHN517 | Long             | DBT              | CORP              | US        |    111000 | PA      | $103812.75    | 0.02%             | 2030-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                                 | CSC Holdings LLC                                                                 | CUSIP: 126307BF3<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    200000 | PA      | $139500.00    | 0.02%             | 2031-02-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| DT MIDSTREAM INC                                 | DT Midstream Inc                                                                 | CUSIP: 23345MAB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    657000 | PA      | $574692.35    | 0.10%             | 2031-06-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Tenet Healthcare Corp                            | Tenet Healthcare Corp                                                            | CUSIP: 88033GCS7<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    104000 | PA      | $102570.00    | 0.02%             | 2024-07-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| LOTTOMATICA SPA/ROMA                             | Lottomatica SpA/Roma                                                             | CUSIP: 000000000<br>LEI: 81560046335277E43118 | Long             | DBT              | CORP              | IT        |    100000 | PA      | $107627.88    | 0.02%             | 2025-07-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| CLEAN HARBORS INC                                | Clean Harbors Inc                                                                | CUSIP: 184496AQ0<br>LEI: 5493000SJVZVZJKHJF48 | Long             | DBT              | CORP              | US        |    142000 | PA      | $144655.40    | 0.03%             | 2031-02-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| PREMIER ENTERTAINMENT SU                         | Premier Entertainment Sub LLC / Premier Entertainment Finance Corp               | CUSIP: 74052HAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    148000 | PA      | $103283.28    | 0.02%             | 2031-09-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| HESS MIDSTREAM OPERATION                         | Hess Midstream Operations LP                                                     | CUSIP: 428102AE7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    305000 | PA      | $267121.29    | 0.05%             | 2030-02-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                            | Tenet Healthcare Corp                                                            | CUSIP: 88033GDP2<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    452000 | PA      | $438760.92    | 0.08%             | 2030-06-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| ARCHES BUYER INC                                 | Arches Buyer Inc                                                                 | CUSIP: 039524AA1<br>LEI: 2549009ADY4208OH2Y47 | Long             | DBT              | CORP              | US        |    143000 | PA      | $120120.00    | 0.02%             | 2028-06-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| BOXER PARENT CO INC                              | Boxer Parent Co Inc                                                              | CUSIP: 103186AC6<br>LEI: 5493006T045HLTF7YX04 | Long             | DBT              | CORP              | US        |    194000 | PA      | $184323.19    | 0.03%             | 2026-03-01      | Fixed         | 9.13%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                           | US 2YR NOTE (CBT) MAR23                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |      1310 | NC      | $379826.53    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| VISTRA CORP                                      | Vistra Operations Co LLC                                                         | CUSIP: 92840VAA0<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |     18000 | PA      | $17530.97     | 0.00%             | 2026-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ALBERTSONS COS/SAFEWAY                           | Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC            | CUSIP: 013092AC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    972000 | PA      | $921504.60    | 0.16%             | 2027-01-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                           | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCK7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1017000 | PA      | $847211.85    | 0.15%             | 2031-02-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CARPENTER TECHNOLOGY                             | Carpenter Technology Corp                                                        | CUSIP: 144285AM5<br>LEI: DX6I6ZD3X5WNNCDJKP85 | Long             | DBT              | CORP              | US        |    422000 | PA      | $433140.80    | 0.08%             | 2030-03-15      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                      | SWP: OIS 3.526500 10-NOV-2052                                                    | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |   3000000 | OU      | $326363.89    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| CNTRL PARENT/CDK GLB INC                         | Central Parent Inc / CDK Global Inc                                              | CUSIP: 15477CAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    716000 | PA      | $714133.46    | 0.12%             | 2029-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| SENSATA TECHNOLOGIES INC                         | Sensata Technologies Inc                                                         | CUSIP: 81728UAB0<br>LEI: 5493002MMDDCUNV7NY90 | Long             | DBT              | CORP              | US        |     44000 | PA      | $37349.28     | 0.01%             | 2031-02-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Anchorage Capital CLO LTD                        | Anchorage Capital CLO 5-R Ltd                                                    | CUSIP: 03329YAA1<br>LEI: 549300687XYK5L55VX28 | Long             | ABS-CBDO         | CORP              | KY        |    860000 | PA      | $784747.08    | 0.14%             | 2030-01-15      | Floating      | 10.19%                | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                | RRP ENBRIDGE IN                                                                  | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Short            | RA               | CORP              | US        |  -1522306 | PA      | $-1522306.25  | -0.27%            |  |  |  | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP SBA COMMUNI                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -657975 | PA      | $-657975.00   | -0.12%            |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES USA, INC.                        | RRP VERIZON COM                                                                  | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | Short            | RA               | CORP              | US        |   -455000 | PA      | $-455000.00   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| ARDAGH METAL PACKAGING                           | Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC      | CUSIP: 03969YAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |   2668000 | PA      | $2206062.48   | 0.39%             | 2029-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| AMWINS GROUP INC                                 | AmWINS Group Inc                                                                 | CUSIP: 031921AB5<br>LEI: 549300SJE7MUB8NMRG61 | Long             | DBT              | CORP              | US        |    366000 | PA      | $321042.07    | 0.06%             | 2029-06-30      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                               | Dominican Republic International Bond                                            | CUSIP: 25714PED6<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |    452000 | PA      | $392901.00    | 0.07%             | 2030-01-30      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Aramark Services Inc                             | Aramark Services Inc                                                             | CUSIP: 038522AQ1<br>LEI: 42YMHYH0XMHJEXDUB065 | Long             | DBT              | CORP              | US        |    704000 | PA      | $663520.00    | 0.12%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                            | Level 3 Financing Inc                                                            | CUSIP: 527298BS1<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    198000 | PA      | $147312.00    | 0.03%             | 2029-01-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| JP MORGAN SECURITIES LLC                         | RRP CONSTELLIUM                                                                  | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | Short            | RA               | CORP              | US        |   -887294 | PA      | $-887293.75   | -0.16%            |  |  |  | No            |                  2 | On Loan: No      |
| CANO HEALTH LLC                                  | Cano Health LLC                                                                  | CUSIP: 13782CAA8<br>LEI: 254900OGI2T8V1NXN639 | Long             | DBT              | CORP              | US        |    100000 | PA      | $63750.00     | 0.01%             | 2028-10-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| FIRSTENERGY TRANSMISSION                         | FirstEnergy Transmission LLC                                                     | CUSIP: 33767BAA7<br>LEI: 549300AINIIPOLYX2R63 | Long             | DBT              | CORP              | US        |    497000 | PA      | $490961.61    | 0.09%             | 2044-07-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| NAVIENT CORP                                     | Navient Corp                                                                     | CUSIP: 63938CAM0<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |    268000 | PA      | $237180.00    | 0.04%             | 2029-03-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                           | US 5YR NOTE (CBT) MAR23                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |       -87 | NC      | $9675.18      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| NRG Energy Inc                                   | NRG Energy Inc                                                                   | CUSIP: 629377CH3<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    347000 | PA      | $313167.50    | 0.05%             | 2029-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ARAB REPUBLIC OF EGYPT                           | Egypt Government International Bond                                              | CUSIP: 03846JX47<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |    200000 | PA      | $188000.00    | 0.03%             | 2024-05-29      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                      | RRP FNMA 30YR F                                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -117616 | PA      | $-117615.58   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                      | RRP FNMA 40YR R                                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |  -2126535 | PA      | $-2126534.59  | -0.37%            |  |  |  | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                             | OneMain Finance Corp                                                             | CUSIP: 85172FAM1<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    312000 | PA      | $311020.32    | 0.05%             | 2025-03-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| JEFFERIES FIN LLC / JFIN                         | Jefferies Finance LLC / JFIN Co-Issuer Corp                                      | CUSIP: 47232MAF9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    415000 | PA      | $351980.43    | 0.06%             | 2028-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                          | RRP RAYTHEON TE                                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -552125 | PA      | $-552125.00   | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| SAUDI INTERNATIONAL BOND                         | Saudi Government International Bond                                              | CUSIP: 000000000<br>LEI: 635400FMICXSM3SI3H65 | Long             | DBT              | NUSS              | SA        |    362000 | PA      | $362294.13    | 0.06%             | 2030-04-17      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| SUBURBAN PROPANE PARTNRS                         | Suburban Propane Partners LP/Suburban Energy Finance Corp                        | CUSIP: 864486AL9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    117000 | PA      | $101787.22    | 0.02%             | 2031-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BOYNE USA INC                                    | Boyne USA Inc                                                                    | CUSIP: 103557AC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    440000 | PA      | $398677.04    | 0.07%             | 2029-05-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| American Homes 4 Rent                            | American Homes 4 Rent 2014-SFR2 Trust                                            | CUSIP: 02665UAE5<br>LEI: 549300ZJUO7A58PNUW40 | Long             | ABS-O            | CORP              | US        |   2000000 | PA      | $1962406.20   | 0.34%             | 2036-10-17      | Fixed         | 6.23%                 | No            |                  2 | On Loan: No      |
| SURGERY CENTER HOLDINGS                          | Surgery Center Holdings Inc                                                      | CUSIP: 84611WAB0<br>LEI: 54930054EVI5HWPPW113 | Long             | DBT              | CORP              | US        |    392000 | PA      | $389256.00    | 0.07%             | 2025-07-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| BOOKING HOLDINGS INC                             | Booking Holdings Inc                                                             | CUSIP: 09857LAN8<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | DBT              | CORP              | US        |     63000 | PA      | $89699.40     | 0.02%             | 2025-05-01      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE SA                               | Credit Agricole SA                                                               | CUSIP: 225313AP0<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |    260000 | PA      | $221104.00    | 0.04%             | 2029-03-23      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| RADIATE HOLDCO / FINANCE                         | Radiate Holdco LLC / Radiate Finance Inc                                         | CUSIP: 75026JAC4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    728000 | PA      | $557480.56    | 0.10%             | 2026-09-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BX Trust                                         | BX Trust 2022-GPA                                                                | CUSIP: 05608UAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    650000 | PA      | $649796.36    | 0.11%             | 2039-10-15      | Floating      | 6.64%                 | No            |                  2 | On Loan: No      |
| OWL ROCK CAPITAL CORP                            | Owl Rock Capital Corp                                                            | CUSIP: 69121KAE4<br>LEI: 2549000BD79OOCPF2L94 | Long             | DBT              | CORP              | US        |     83000 | PA      | $74945.60     | 0.01%             | 2026-07-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                          | Frontier Communications Holdings LLC                                             | CUSIP: 35906ABG2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    337000 | PA      | $288977.50    | 0.05%             | 2029-05-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ROMANIA                                          | Romanian Government International Bond                                           | CUSIP: 77586RAN0<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |    336000 | PA      | $330540.00    | 0.06%             | 2027-11-25      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NORDEA BANK ABP                                  | Nordea Bank Abp                                                                  | CUSIP: 65559CAD3<br>LEI: 529900ODI3047E2LIV03 | Long             | DBT              | CORP              | FI        |    560000 | PA      | $442963.75    | 0.08%             | 2029-03-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| GENNEIA SA                                       | Genneia SA                                                                       | CUSIP: 372319AB9<br>LEI: 529900YZ70LX0XWS9P67 | Long             | DBT              | CORP              | AR        |    167888 | PA      | $162148.33    | 0.03%             | 2027-09-02      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                             | RRP FIRSTENERGY                                                                  | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |   -487060 | PA      | $-487060.00   | -0.09%            |  |  |  | No            |                  2 | On Loan: No      |
| LITHIA MOTORS INC                                | Lithia Motors Inc                                                                | CUSIP: 536797AG8<br>LEI: SE8N1EZEHPZQBCBVKD53 | Long             | DBT              | CORP              | US        |    167000 | PA      | $141896.56    | 0.02%             | 2029-06-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| TK ELEVATOR US NEWCO INC                         | TK Elevator US Newco Inc                                                         | CUSIP: 92537RAA7<br>LEI: 549300C2AFWPAYWS5574 | Long             | DBT              | CORP              | US        |   1748000 | PA      | $1617896.36   | 0.28%             | 2027-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MAF SUKUK LTD                                    | MAF Sukuk Ltd                                                                    | CUSIP: 000000000<br>LEI: 549300IS9H0W5N2N4K34 | Long             | DBT              | CORP              | KY        |    262000 | PA      | $249112.88    | 0.04%             | 2030-02-28      | Fixed         | 3.93%                 | No            |                  2 | On Loan: No      |
| Buckeye Partners LP                              | Buckeye Partners LP                                                              | CUSIP: 118230AM3<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |    182000 | PA      | $139230.00    | 0.02%             | 2043-11-15      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| SAUDI INTERNATIONAL BOND                         | Saudi Government International Bond                                              | CUSIP: 80413TBC2<br>LEI: 635400FMICXSM3SI3H65 | Long             | DBT              | NUSS              | SA        |    275000 | PA      | $278162.50    | 0.05%             | 2028-01-18      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley ReRemic Trust                     | Morgan Stanley Re-REMIC Trust 2010-R5                                            | CUSIP: 61759HBE6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4213622 | PA      | $4005797.63   | 0.70%             | 2037-05-26      | Variable      | 2.88%                 | No            |                  2 | On Loan: No      |
| TK ELEVATOR HOLDCO GMBH                          | TK Elevator Holdco GmbH                                                          | CUSIP: 92537VAA8<br>LEI: 2549008GCHWX9EEMIS56 | Long             | DBT              | CORP              | DE        |    552000 | PA      | $490863.63    | 0.09%             | 2028-07-15      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                          | RRP SP FINCO LL                                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -320431 | PA      | $-320430.99   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| TERRAFORM POWER OPERATIN                         | TerraForm Power Operating LLC                                                    | CUSIP: 88104LAG8<br>LEI: 5493000S2OLR3UT5BE13 | Long             | DBT              | CORP              | US        |    179000 | PA      | $161096.87    | 0.03%             | 2030-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| WESCO DISTRIBUTION INC                           | WESCO Distribution Inc                                                           | CUSIP: 95081QAP9<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |    573000 | PA      | $587139.53    | 0.10%             | 2028-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                    | Citigroup Inc                                                                    | CUSIP: 172967NB3<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    630000 | PA      | $560700.00    | 0.10%             | 2026-11-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| TruGreen Limited Partnership                     | TruGreen Limited Partnership 2020 2nd Lien Term Loan                             | CUSIP: 89787RAK8<br>LEI: 549300QNRP2MNHR3QM19 | Long             | LON              | CORP              | US        |    201000 | PA      | $142710.00    | 0.02%             | 2028-11-02      | Floating      | 13.33%                | No            |                  3 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP AXALTA COAT                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -423000 | PA      | $-423000.00   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| Altria Group Inc                                 | Altria Group Inc                                                                 | CUSIP: 02209SAQ6<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | DBT              | CORP              | US        |    750000 | PA      | $596610.95    | 0.10%             | 2043-05-02      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ORGANON & CO/ORG                                 | Organon & Co / Organon Foreign Debt Co-Issuer BV                                 | CUSIP: 68622TAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1153000 | PA      | $1042830.85   | 0.18%             | 2028-04-30      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                          | RRP APACHE CORP                                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -361400 | PA      | $-361400.00   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                      | RRP ALLIANT HOL                                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |  -1832530 | PA      | $-1832530.00  | -0.32%            |  |  |  | No            |                  2 | On Loan: No      |
| LEGACY LIFEPOINT HEALTH                          | Legacy LifePoint Health LLC                                                      | CUSIP: 53219LAS8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    192000 | PA      | $168000.00    | 0.03%             | 2027-02-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| XPO ESCROW SUB LLC                               | XPO Escrow Sub LLC                                                               | CUSIP: 98379JAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    109000 | PA      | $112008.40    | 0.02%             | 2027-11-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA NA                               | SWAP/CDSWAP/SCDS: (TTMTIN)                                                       | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DCR              |  | XX        |     20000 | OU      | $-1349.24     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Ryan Specialty Group, LLC                        | Ryan Specialty Group, LLC Term Loan                                              | CUSIP: 78350UAE5<br>LEI: 549300K52N7QBO3PYY45 | Long             | LON              | CORP              | US        |    232645 | PA      | $231919.15    | 0.04%             | 2027-09-01      | Variable      | 7.66%                 | No            |                  2 | On Loan: No      |
| Constellium SE                                   | Constellium SE                                                                   | CUSIP: 000000000<br>LEI: 724500KRJEMC79KAAU28 | Long             | DBT              | CORP              | FR        |    100000 | PA      | $105948.23    | 0.02%             | 2026-02-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| GEN DIGITAL INC                                  | Gen Digital Inc                                                                  | CUSIP: 668771AL2<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | DBT              | CORP              | US        |    301000 | PA      | $305605.30    | 0.05%             | 2030-09-30      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| Bain Capital Credit CLO, Limited                 | Bain Capital Credit CLO 2020-2 Ltd                                               | CUSIP: 05683EAU6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $227513.08    | 0.04%             | 2034-07-19      | Floating      | 8.10%                 | No            |                  2 | On Loan: No      |
| SPIRIT AEROSYSTEMS INC                           | Spirit AeroSystems Inc                                                           | CUSIP: 85205TAN0<br>LEI: ZD2NBKV6GCC3UMGBM518 | Long             | DBT              | CORP              | US        |    605000 | PA      | $657495.85    | 0.12%             | 2029-11-30      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| ASHLAND LLC                                      | Ashland LLC                                                                      | CUSIP: 04433LAA0<br>LEI: 6O4MRU8C1MS0K34UQF79 | Long             | DBT              | CORP              | US        |    329000 | PA      | $273070.00    | 0.05%             | 2031-09-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| WR GRACE HOLDING LLC                             | WR Grace Holdings LLC                                                            | CUSIP: 92943GAA9<br>LEI: 549300WNOVFRGYOAEB12 | Long             | DBT              | CORP              | US        |   1429000 | PA      | $1191071.50   | 0.21%             | 2029-08-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP CHOBANI LLC                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -803562 | PA      | $-803562.50   | -0.14%            |  |  |  | No            |                  2 | On Loan: No      |
| JP MORGAN SECURITIES LLC                         | RRP GFL ENVIRON                                                                  | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | Short            | RA               | CORP              | US        |   -338750 | PA      | $-338750.00   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| Staples Inc                                      | Staples Inc                                                                      | CUSIP: 855030AN2<br>LEI: XQM2JINI1UL7642TU573 | Long             | DBT              | CORP              | US        |    526000 | PA      | $467377.30    | 0.08%             | 2026-04-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                           | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCS0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    955000 | PA      | $921575.00    | 0.16%             | 2029-09-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF NIGERIA                              | Nigeria Government International Bond                                            | CUSIP: 65412JAU7<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |    400000 | PA      | $333000.00    | 0.06%             | 2029-03-24      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP ALTICE FRAN                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -366875 | PA      | $-366875.00   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                      | RRP FHLMC 30YR                                                                   | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |  -1526253 | PA      | $-1526253.01  | -0.27%            |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae                                       | Fannie Mae Pool                                                                  | CUSIP: 3140X7CK3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    108923 | PA      | $109080.98    | 0.02%             | 2050-02-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                          | RRP AMGEN INC 2                                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -177812 | PA      | $-177812.50   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP ARAMARK SER                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |    -79012 | PA      | $-79012.50    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                         | Madison Park Funding XXVI Ltd                                                    | CUSIP: 55819YAG5<br>LEI: 549300FNRP3W5DX0O430 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $239151.95    | 0.04%             | 2030-07-29      | Floating      | 7.80%                 | No            |                  2 | On Loan: No      |
| CALLON PETROLEUM                                 | Callon Petroleum Co                                                              | CUSIP: 13123XBD3<br>LEI: 549300EFOWPEB0WLZW21 | Long             | DBT              | CORP              | US        |    739000 | PA      | $738600.94    | 0.13%             | 2028-08-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| SoftBank Group Corp                              | SoftBank Group Corp                                                              | CUSIP: 000000000<br>LEI: 5493003BZYYYCDIO0R13 | Long             | DBT              | CORP              | JP        |    100000 | PA      | $105448.15    | 0.02%             | 2025-04-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| SOTHEBY'S/BIDFAIR HLD                            | Sotheby's/Bidfair Holdings Inc                                                   | CUSIP: 83600GAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    690000 | PA      | $590108.70    | 0.10%             | 2029-06-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| MH Sub I, LLC                                    | MH Sub I, LLC 2021 2nd Lien Term Loan                                            | CUSIP: 55303BAD5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     66000 | PA      | $59297.04     | 0.01%             | 2029-02-23      | Variable      | 10.65%                | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                      | RRP FNMA 15YR F                                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -657742 | PA      | $-657742.41   | -0.12%            |  |  |  | No            |                  2 | On Loan: No      |
| ADT SEC CORP                                     | ADT Security Corp/The                                                            | CUSIP: 00109LAA1<br>LEI: 5493009JEEDYLVRA0J13 | Long             | DBT              | CORP              | US        |     35000 | PA      | $31158.75     | 0.01%             | 2029-08-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Range Resources Corp                             | Range Resources Corp                                                             | CUSIP: 75281AAS8<br>LEI: H3Y3WLYCX0BTO1TRW162 | Long             | DBT              | CORP              | US        |     18000 | PA      | $17365.63     | 0.00%             | 2025-05-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| NEW FORTRESS ENERGY INC                          | New Fortress Energy Inc                                                          | CUSIP: 644393AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1332000 | PA      | $1274238.90   | 0.22%             | 2025-09-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                      | SWP: USD 1.835000 08-OCT-2051                                                    | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |  11500000 | OU      | $-3070953.03  | -0.54%            |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                | SWAP/CDSWAP/SCDS: (TTMTIN)                                                       | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              |  | XX        |     10153 | OU      | $-684.94      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ELEMENT SOLUTIONS INC                            | Element Solutions Inc                                                            | CUSIP: 28618MAA4<br>LEI: 549300FLGN6P5CU20J91 | Long             | DBT              | CORP              | US        |   1917000 | PA      | $1696545.00   | 0.30%             | 2028-09-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| ABC SUPPLY CO INC                                | American Builders & Contractors Supply Co Inc                                    | CUSIP: 024747AG2<br>LEI: 549300H5GQ4C1BEKG397 | Long             | DBT              | CORP              | US        |     76000 | PA      | $64790.00     | 0.01%             | 2029-11-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| VICI PROPERTIES LP                               | VICI Properties LP                                                               | CUSIP: 925650AC7<br>LEI: 254900X4QE7SGKQLLN38 | Long             | DBT              |  | US        |    254000 | PA      | $245630.50    | 0.04%             | 2030-02-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| BOEING CO                                        | Boeing Co/The                                                                    | CUSIP: 097023CY9<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   1951000 | PA      | $1966441.70   | 0.34%             | 2030-05-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Sensata Technologies BV                          | Sensata Technologies BV                                                          | CUSIP: 81725WAJ2<br>LEI: PUCKW5P5O3XMOZVH7T53 | Long             | DBT              | CORP              | NL        |    368000 | PA      | $363950.16    | 0.06%             | 2025-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP COMSTOCK RE                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -817931 | PA      | $-817931.25   | -0.14%            |  |  |  | No            |                  2 | On Loan: No      |
| LIQUID TELECOM FINANCE                           | Liquid Telecommunications Financing Plc                                          | CUSIP: 536333AB3<br>LEI: 635400MXAVJRJJCWVI87 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $151350.00    | 0.03%             | 2026-09-04      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SENSATA TECHNOLOGIES BV                          | Sensata Technologies BV                                                          | CUSIP: 81725WAK9<br>LEI: PUCKW5P5O3XMOZVH7T53 | Long             | DBT              | CORP              | NL        |    216000 | PA      | $193860.00    | 0.03%             | 2029-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PLAINS ALL AMER PIPELINE                         | Plains All American Pipeline LP / PAA Finance Corp                               | CUSIP: 72650RBM3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    213000 | PA      | $191571.30    | 0.03%             | 2029-12-15      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| STANDARD INDUSTRIES INC                          | Standard Industries Inc/NJ                                                       | CUSIP: 853496AC1<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |     94000 | PA      | $89077.89     | 0.02%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                   | Morgan Stanley                                                                   | CUSIP: 61747YFB6<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    125000 | PA      | $127740.57    | 0.02%             | 2038-01-19      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| CENTENE CORP                                     | Centene Corp                                                                     | CUSIP: 15135BAY7<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |    502000 | PA      | $434856.72    | 0.08%             | 2028-07-15      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP CAESARS ENT                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -996125 | PA      | $-996125.00   | -0.17%            |  |  |  | No            |                  2 | On Loan: No      |
| KRAFT HEINZ FOODS CO                             | Kraft Heinz Foods Co                                                             | CUSIP: 50077LBJ4<br>LEI: 5493003STKEZ2S0RNU91 | Long             | DBT              | CORP              | US        |    203000 | PA      | $207180.86    | 0.04%             | 2050-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE BANK                             | SWAP/CDSWAP/SCDS: (VMED)                                                         | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DCR              |  | XX        |     20000 | OU      | $1271.73      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                           | General Motors Financial Co Inc                                                  | CUSIP: 37045XAL0<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    326000 | PA      | $325336.86    | 0.06%             | 2023-05-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| 1011778 BC / NEW RED FIN                         | 1011778 BC ULC / New Red Finance Inc                                             | CUSIP: 68245XAJ8<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    157000 | PA      | $144472.60    | 0.03%             | 2028-01-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| LCM Ltd Partnership                              | LCM XXIV Ltd                                                                     | CUSIP: 50188YAE4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    237353 | PA      | $234955.69    | 0.04%             | 2030-03-20      | Floating      | 5.79%                 | No            |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS                         | Univision Communications Inc                                                     | CUSIP: 914906AU6<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |    132000 | PA      | $129360.00    | 0.02%             | 2027-06-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| GENESIS ENERGY LP/FIN                            | Genesis Energy LP / Genesis Energy Finance Corp                                  | CUSIP: 37185LAJ1<br>LEI: 549300VJ5D6MDK138782 | Long             | DBT              | CORP              | US        |    135000 | PA      | $132637.50    | 0.02%             | 2025-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS CO                                | General Motors Co                                                                | CUSIP: 37045VAY6<br>LEI: 54930070NSV60J38I987 | Long             | DBT              | CORP              | US        |    121000 | PA      | $120206.59    | 0.02%             | 2029-10-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| FERTITTA ENTERTAINMENT                           | Fertitta Entertainment LLC / Fertitta Entertainment Finance Co Inc               | CUSIP: 31556TAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     56000 | PA      | $49423.92     | 0.01%             | 2029-01-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                          | RRP MATADOR RES                                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -264800 | PA      | $-264800.00   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| PERUSAHAAN PENERBIT SBSN                         | Perusahaan Penerbit SBSN Indonesia III                                           | CUSIP: 71567PAU4<br>LEI: 254900G208H6Q0L5B953 | Long             | DBT              | CORP              | ID        |    200000 | PA      | $199272.00    | 0.03%             | 2027-06-06      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| ZAYO GROUP HOLDINGS INC                          | Zayo Group Holdings Inc                                                          | CUSIP: 98919VAA3<br>LEI: 529900Z6OTS7RT0V0I47 | Long             | DBT              | CORP              | US        |   1656000 | PA      | $1316685.60   | 0.23%             | 2027-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Neuberger Berman CLO Ltd                         | Neuberger Berman Loan Advisers NBLA CLO 52 Ltd                                   | CUSIP: 64135FAG5<br>LEI: 5493008RV69QDGFCMY47 | Long             | ABS-CBDO         | CORP              | JE        |    550000 | PA      | $545225.34    | 0.10%             | 2035-10-24      | Floating      | 10.33%                | No            |                  2 | On Loan: No      |
| VEDANTA RESOURCES                                | Vedanta Resources Finance II PLC                                                 | CUSIP: 92243XAE1<br>LEI: 8945002DGA3BBXO3N634 | Long             | DBT              | CORP              | GB        |    320000 | PA      | $250400.00    | 0.04%             | 2025-03-11      | Fixed         | 8.95%                 | No            |                  2 | On Loan: No      |
| CITIBANK NA                                      | SWAP/CDSWAP/SCDS: (ADLERR)                                                       | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DCR              |  | XX        |      4416 | OU      | $-853.65      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                         | Hilcorp Energy I LP / Hilcorp Finance Co                                         | CUSIP: 431318AZ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     10000 | PA      | $9230.43      | 0.00%             | 2032-04-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| United Mexican States                            | Mexico Government International Bond                                             | CUSIP: 91087BAE0<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    805000 | PA      | $771592.50    | 0.14%             | 2028-01-11      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| ATLAS LUXCO 4 / ALL UNI                          | Allied Universal Holdco LLC/Allied Universal Finance Corp/Atlas Luxco 4 Sarl     | CUSIP: 019579AA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    900000 | PA      | $776286.00    | 0.14%             | 2028-06-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| DELTA AIR LINES/SKYMILES                         | Delta Air Lines Inc / SkyMiles IP Ltd                                            | CUSIP: 830867AB3<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |     11880 | PA      | $11574.82     | 0.00%             | 2028-10-20      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                      | RRP WHITE CAP B                                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -413100 | PA      | $-413100.00   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS                         | Univision Communications Inc                                                     | CUSIP: 914906AS1<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |    110000 | PA      | $107167.50    | 0.02%             | 2025-02-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| LEVI STRAUSS & CO                                | Levi Strauss & Co                                                                | CUSIP: 52736RBJ0<br>LEI: MB0UERO0RDFKU8258G77 | Long             | DBT              | CORP              | US        |    244000 | PA      | $203740.00    | 0.04%             | 2031-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| USA COM PART/USA COM FIN                         | USA Compression Partners LP / USA Compression Finance Corp                       | CUSIP: 91740PAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    346000 | PA      | $339581.70    | 0.06%             | 2026-04-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP MOZART DEBT                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -393269 | PA      | $-393268.75   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| HOWARD HUGHES CORP                               | Howard Hughes Corp/The                                                           | CUSIP: 44267DAE7<br>LEI: 549300BVHY25JZC1KI49 | Long             | DBT              | CORP              | US        |    189000 | PA      | $163205.28    | 0.03%             | 2029-02-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                          | RRP RIO TINTO F                                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -377500 | PA      | $-377500.00   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP COLOMBIA (R                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -429080 | PA      | $-429080.00   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| NOMURA SECURITIES INTERNATIONAL INC              | RRP LIVE NATION                                                                  | CUSIP: 000000000<br>LEI: OXTKY6Q8X53C9ILVV871 | Short            | RA               | CORP              | US        |   -537068 | PA      | $-537067.50   | -0.09%            |  |  |  | No            |                  2 | On Loan: No      |
| CABLE ONE INC                                    | Cable One Inc                                                                    | CUSIP: 12685JAG0<br>LEI: 549300648QS85T0XSH18 | Long             | DBT              | CORP              | US        |    940000 | PA      | $722390.00    | 0.13%             | 2028-03-15      | Fixed         | 1.13%                 | No            |                  2 | On Loan: No      |
| NEW ENTERPRISE STONE & L                         | New Enterprise Stone & Lime Co Inc                                               | CUSIP: 644274AH5<br>LEI: 549300O5DQ5Y61B8VF38 | Long             | DBT              | CORP              | US        |    103000 | PA      | $94816.65     | 0.02%             | 2028-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Barclays PLC                                     | Barclays PLC                                                                     | CUSIP: 06738EAP0<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $199194.90    | 0.03%             | 2026-05-12      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP LEVEL 3 FIN                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -565875 | PA      | $-565875.00   | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| WR GRACE HOLDING LLC                             | WR Grace Holdings LLC                                                            | CUSIP: 92943GAC5<br>LEI: 549300WNOVFRGYOAEB12 | Long             | DBT              | CORP              | US        |    300000 | PA      | $298500.00    | 0.05%             | 2024-10-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| PENSKE AUTOMOTIVE GROUP                          | Penske Automotive Group Inc                                                      | CUSIP: 70959WAK9<br>LEI: 549300W7UTQ0M4C7LB15 | Long             | DBT              | CORP              | US        |     87000 | PA      | $73569.91     | 0.01%             | 2029-06-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Otis Worldwide Corp                              | Otis Worldwide Corp                                                              | CUSIP: 68902V107<br>LEI: 549300ZLBKR8VSU25153 | Long             | EC               | CORP              | US        |     12825 | NS      | $1054599.75   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Cloudera, Inc.                                   | Cloudera, Inc. 2021 Second Lien Term Loan                                        | CUSIP: 74339VAE8<br>LEI: 549300PGONC4JOI0RG62 | Long             | LON              | CORP              | US        |    441577 | PA      | $387483.82    | 0.07%             | 2029-10-08      | Floating      | 10.57%                | No            |                  3 | On Loan: No      |
| GO DADDY OPCO/FINCO                              | Go Daddy Operating Co LLC / GD Finance Co Inc                                    | CUSIP: 38016LAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    359000 | PA      | $347433.02    | 0.06%             | 2027-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| WESTERN MIDSTREAM OPERAT                         | Western Midstream Operating LP                                                   | CUSIP: 958254AL8<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |    103000 | PA      | $89490.52     | 0.02%             | 2048-08-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| 1011778 BC / NEW RED FIN                         | 1011778 BC ULC / New Red Finance Inc                                             | CUSIP: 68245XAM1<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    207000 | PA      | $176208.75    | 0.03%             | 2030-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                          | RRP RITCHIE BRO                                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -126189 | PA      | $-126188.75   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| PROOFPOINT, INC.                                 | Proofpoint, Inc. 2nd Lien Term Loan                                              | CUSIP: 74345HAD3<br>LEI: 529900C5FODDK0WSR085 | Long             | LON              | CORP              | US        |    471625 | PA      | $452760.00    | 0.08%             | 2029-08-31      | Floating      | 10.98%                | No            |                  2 | On Loan: No      |
| REGIONAL MGMT ISSUANCE                           | REGIONAL MGMT ISSUANCE                                                           | CUSIP: 75907WAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1110000 | PA      | $951270.00    | 0.17%             | 2033-10-17      | Fixed         | 3.88%                 | No            |                  3 | On Loan: No      |
| CRESTWOOD MID PARTNER LP                         | Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp               | CUSIP: 226373AQ1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     67000 | PA      | $64032.57     | 0.01%             | 2027-05-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| SCC POWER PLC                                    | SCC Power PLC                                                                    | CUSIP: 78397YAB8<br>LEI: 529900IYGYC6VSDSDF37 | Long             | DBT              | CORP              | GB        |    663337 | PA      | $218691.16    | 0.04%             | 2028-12-31      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| MURPHY OIL USA INC                               | Murphy Oil USA Inc                                                               | CUSIP: 626738AE8<br>LEI: N32S6DTR2ZZ5222WHV58 | Long             | DBT              | CORP              | US        |    171000 | PA      | $156678.75    | 0.03%             | 2029-09-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| RENAULT SA                                       | Renault SA                                                                       | CUSIP: 000000000<br>LEI: 969500F7JLTX36OUI695 | Long             | DBT              | CORP              | FR        |    100000 | PA      | $99819.75     | 0.02%             | 2026-05-25      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| CABLEVISION LIGHTPATH                            | Cablevision Lightpath LLC                                                        | CUSIP: 12687GAB5<br>LEI: 5493002ZVBLRLGES1R71 | Long             | DBT              | CORP              | US        |    401000 | PA      | $307767.50    | 0.05%             | 2028-09-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| MIDWEST GMNG BOR/MWG FIN                         | Midwest Gaming Borrower LLC / Midwest Gaming Finance Corp                        | CUSIP: 59833DAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    301000 | PA      | $263387.59    | 0.05%             | 2029-05-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| ELANCO ANIMAL HEALTH INC                         | Elanco Animal Health Inc                                                         | CUSIP: 28414HAG8<br>LEI: 549300SHPNDCE059M934 | Long             | DBT              | CORP              | US        |    230000 | PA      | $224526.00    | 0.04%             | 2028-08-28      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| TD SECURITIES USA LLC                            | RRP HUNTINGTON                                                                   | CUSIP: 000000000<br>LEI: SUVUFHICNZMP2WKHG940 | Short            | RA               | CORP              | US        |   -207350 | PA      | $-207350.00   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES USA, INC.                        | RRP PLAINS ALL                                                                   | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | Short            | RA               | CORP              | US        |   -314356 | PA      | $-314356.25   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF GUATEMALA                            | Guatemala Government Bond                                                        | CUSIP: 401494AV1<br>LEI: 529900QKDFFU9UWW5315 | Long             | DBT              | NUSS              | GT        |    200000 | PA      | $193912.50    | 0.03%             | 2029-08-10      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Nokia OYJ                                        | Nokia Oyj                                                                        | CUSIP: 654902AE5<br>LEI: 549300A0JPRWG1KI7U06 | Long             | DBT              | CORP              | FI        |    177000 | PA      | $169920.00    | 0.03%             | 2027-06-12      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                       | Fannie Mae Pool                                                                  | CUSIP: 3140JM5W8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1390595 | PA      | $1385216.06   | 0.24%             | 2034-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MHI Holdings,LLC                                 | MHI Holdings,LLC Term Loan B                                                     | CUSIP: 55303YAC7<br>LEI: 549300XOWJ3ALVFU4F13 | Long             | LON              | CORP              | US        |    418421 | PA      | $416328.53    | 0.07%             | 2026-09-21      | Floating      | 9.57%                 | No            |                  2 | On Loan: No      |
| Gilead Sciences Inc                              | Gilead Sciences Inc                                                              | CUSIP: 375558BD4<br>LEI: 549300WTZWR07K8MNV44 | Long             | DBT              | CORP              | US        |    700000 | PA      | $680385.73    | 0.12%             | 2046-03-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| JP MORGAN SECURITIES LLC                         | RRP WESTERN MID                                                                  | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | Short            | RA               | CORP              | US        |   -332500 | PA      | $-332500.00   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| Allegro CLO Ltd                                  | Allegro CLO V Ltd                                                                | CUSIP: 01748RAL9<br>LEI: 254900TYK5TGNAFE3053 | Long             | ABS-CBDO         | CORP              | KY        |    490887 | PA      | $485129.05    | 0.08%             | 2030-10-16      | Floating      | 5.74%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                | CDS: (CMBX.NA.7.BBB-)                                                            | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              |  | US        |  10000000 | OU      | $-1881666.67  | -0.33%            |  |  |  | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP SERVICE COR                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -292500 | PA      | $-292500.00   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| NFP CORP                                         | NFP Corp                                                                         | CUSIP: 65342RAF7<br>LEI: VO2L9FZNXDJNQNEYH039 | Long             | DBT              | CORP              | US        |    136000 | PA      | $129618.88    | 0.02%             | 2030-10-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| EDISON INTERNATIONAL                             | Edison International                                                             | CUSIP: 281020AW7<br>LEI: 549300I7ROF15MAEVP56 | Long             | DBT              | CORP              | US        |    130000 | PA      | $141138.83    | 0.02%             | 2029-11-15      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| GENESIS ENERGY LP/FIN                            | Genesis Energy LP / Genesis Energy Finance Corp                                  | CUSIP: 37185LAN2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    201000 | PA      | $204266.25    | 0.04%             | 2030-04-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| SABINE PASS LIQUEFACTION                         | Sabine Pass Liquefaction LLC                                                     | CUSIP: 785592AY2<br>LEI: 549300KJYBG7C6WJYZ11 | Long             | DBT              | CORP              | US        |    185000 | PA      | $192005.42    | 0.03%             | 2037-09-15      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| ATS CORP                                         | ATS Corp                                                                         | CUSIP: 001940AC9<br>LEI: 5493005KP4RP3IU7HQ41 | Long             | DBT              | CORP              | CA        |    139000 | PA      | $124520.37    | 0.02%             | 2028-12-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| ANTERO RESOURCES CORP                            | Antero Resources Corp                                                            | CUSIP: 03674XAQ9<br>LEI: APVBKPOULHUX7YZLKU17 | Long             | DBT              | CORP              | US        |    158000 | PA      | $161570.84    | 0.03%             | 2029-02-01      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                | RRP BANK OF AME                                                                  | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Short            | RA               | CORP              | US        |  -3700406 | PA      | $-3700406.25  | -0.65%            |  |  |  | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP                              | American Tower Corp                                                              | CUSIP: 03027XBW9<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              |  | US        |    338000 | PA      | $313177.84    | 0.05%             | 2032-03-15      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SOUTH AFRICA                         | Republic of South Africa Government International Bond                           | CUSIP: 836205BA1<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    210000 | PA      | $191100.00    | 0.03%             | 2029-09-30      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| SCIENTIFIC GAMES INTERNA                         | Scientific Games International Inc                                               | CUSIP: 80874YBC3<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | DBT              | CORP              | US        |    190000 | PA      | $188098.76    | 0.03%             | 2028-05-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| PLAINS ALL AMER PIPELINE                         | Plains All American Pipeline LP / PAA Finance Corp                               | CUSIP: 72650RBN1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    365000 | PA      | $331588.14    | 0.06%             | 2030-09-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| ROLLS-ROYCE PLC                                  | Rolls-Royce PLC                                                                  | CUSIP: 77578JAC2<br>LEI: X57JK1U580XATGR67572 | Long             | DBT              | CORP              | GB        |   1545000 | PA      | $1502512.50   | 0.26%             | 2027-10-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| MIDCONTINENT COMM & FIN                          | Midcontinent Communications / Midcontinent Finance Corp                          | CUSIP: 59565XAC4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    209000 | PA      | $196884.37    | 0.03%             | 2027-08-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| WYNN MACAU LTD                                   | Wynn Macau Ltd                                                                   | CUSIP: 000000000<br>LEI: 254900NMDQ8ENTHU1I31 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $187000.00    | 0.03%             | 2026-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP CALPINE COR                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -840000 | PA      | $-840000.00   | -0.15%            |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae                                       | Fannie Mae Pool                                                                  | CUSIP: 3140Q7X51<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1706922 | PA      | $1692752.84   | 0.30%             | 2047-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ARDAGH METAL PACKAGING                           | Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC      | CUSIP: 03969YAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    200000 | PA      | $175506.00    | 0.03%             | 2028-09-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                      | RRP TELEFLEX IN                                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -235605 | PA      | $-235605.00   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| MFRA Trust                                       | MFA 2021-NQM1 Trust                                                              | CUSIP: 55283FAD0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2000000 | PA      | $1492925.20   | 0.26%             | 2065-04-25      | Variable      | 2.31%                 | No            |                  2 | On Loan: No      |
| Mileage Plus Holdings LLC                        | Mileage Plus Holdings LLC 2020 Term Loan B                                       | CUSIP: 59921PAB2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    205598 | PA      | $214130.21    | 0.04%             | 2027-06-21      | Floating      | 10.00%                | No            |                  2 | On Loan: No      |
| Dryden Senior Loan Fund                          | Dryden 106 CLO Ltd                                                               | CUSIP: 26254TAA2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $483284.25    | 0.08%             | 2035-10-15      | Floating      | 13.43%                | No            |                  2 | On Loan: No      |
| REPUBLIC OF PERU                                 | Peruvian Government International Bond                                           | CUSIP: 715638DP4<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |    712000 | PA      | $531241.00    | 0.09%             | 2032-12-01      | Fixed         | 1.86%                 | No            |                  2 | On Loan: No      |
| COVANTA HOLDING CORP                             | Covanta Holding Corp                                                             | CUSIP: 22282EAJ1<br>LEI: 40XIFLS8XDQGGHGPGC04 | Long             | DBT              | CORP              | US        |     91000 | PA      | $77423.68     | 0.01%             | 2030-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                          | RRP BURLINGTON                                                                   | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -450000 | PA      | $-450000.00   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| Suncor Energy Inc                                | Suncor Energy Inc                                                                | CUSIP: 867229AE6<br>LEI: 549300W70ZOQDVLCHY06 | Long             | DBT              | CORP              | CA        |    800000 | PA      | $870637.91    | 0.15%             | 2038-06-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| DARLING INGREDIENTS INC                          | Darling Ingredients Inc                                                          | CUSIP: 237266AJ0<br>LEI: L1N0SPPKS7EXZYUMZ898 | Long             | DBT              | CORP              | US        |    557000 | PA      | $554215.00    | 0.10%             | 2030-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| PRIME SECSRVC BRW/FINANC                         | Prime Security Services Borrower LLC / Prime Finance Inc                         | CUSIP: 74166MAE6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    201000 | PA      | $190628.40    | 0.03%             | 2028-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| FIRSTENERGY TRANSMISSION                         | FirstEnergy Transmission LLC                                                     | CUSIP: 33767BAC3<br>LEI: 549300AINIIPOLYX2R63 | Long             | DBT              | CORP              | US        |     90000 | PA      | $78263.92     | 0.01%             | 2049-04-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP/US FIN                         | Clarios Global LP / Clarios US Finance Co                                        | CUSIP: 69867DAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3592000 | PA      | $3577674.74   | 0.63%             | 2027-05-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| ODBRCHT OFFSHRE DRLL FIN                         | Odebrecht Offshore Drilling Finance Ltd                                          | CUSIP: 67576GAD9<br>LEI: 549300L7LF2PIRAWID66 | Long             | DBT              | CORP              | KY        |       637 | PA      | $134.57       | 0.00%             | 2026-12-01      | Fixed         | 7.72%                 | No            |                  2 | On Loan: No      |
| HUB INTERNATIONAL LTD                            | HUB International Ltd                                                            | CUSIP: 44332PAG6<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |     67000 | PA      | $59956.42     | 0.01%             | 2029-12-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| NOMURA SECURITIES INTERNATIONAL INC              | RRP ALLIANT HOL                                                                  | CUSIP: 000000000<br>LEI: OXTKY6Q8X53C9ILVV871 | Short            | RA               | CORP              | US        |  -1589680 | PA      | $-1589680.00  | -0.28%            |  |  |  | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                         | Ford Motor Credit Co LLC                                                         | CUSIP: 345397B51<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    376000 | PA      | $323396.00    | 0.06%             | 2028-02-16      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| OWL ROCK CORE INCOME COR                         | OWL Rock Core Income Corp                                                        | CUSIP: 69120VAM3<br>LEI: 5493003I42XBWPE05N35 | Long             | DBT              | CORP              | US        |     56000 | PA      | $48848.38     | 0.01%             | 2026-09-23      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| TELEFONICA EUROPE BV                             | Telefonica Europe BV                                                             | CUSIP: 000000000<br>LEI: 7245007FZS0M65WUGP67 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $213715.49    | 0.04%             | 2030-02-03      | Fixed         | 6.14%                 | No            |                  2 | On Loan: No      |
| HEATHROW FINANCE PLC                             | Heathrow Finance PLC                                                             | CUSIP: 000000000<br>LEI: 549300F740QSGMPHQJ60 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $98627.96     | 0.02%             | 2029-09-01      | Variable      | 4.13%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                          | RRP DCP MIDSTRE                                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -145600 | PA      | $-145600.00   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| KKR APPLE BIDCO, LLC                             | KKR Apple Bidco, LLC 2021 2nd Lien Term Loan                                     | CUSIP: 000000000<br>LEI: 2549001SCJD3WEYJFM53 | Long             | LON              | CORP              | US        |     34000 | PA      | $33320.00     | 0.01%             | 2029-09-21      | Floating      | 10.32%                | No            |                  3 | On Loan: No      |
| ASBURY AUTOMOTIVE GROUP                          | Asbury Automotive Group Inc                                                      | CUSIP: 043436AV6<br>LEI: 549300JH4DTA7U42GL91 | Long             | DBT              | CORP              | US        |    164000 | PA      | $143459.62    | 0.03%             | 2030-03-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                              | Petroleos Mexicanos                                                              | CUSIP: 71654QDL3<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    357375 | PA      | $347993.91    | 0.06%             | 2029-06-02      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Aviron Capital LLC                               | Aviron Capital LLC                                                               | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               |  | US        |        10 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Credit Suisse Mortgage Trust                     | CSMC 2021-NQM2                                                                   | CUSIP: 12662EAD5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $922476.00    | 0.16%             | 2066-02-25      | Variable      | 2.28%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                 | CIFC Funding 2022-VII Ltd                                                        | CUSIP: 12569EAL1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $247836.08    | 0.04%             | 2035-10-22      | Floating      | 9.56%                 | No            |                  2 | On Loan: No      |
| VEDANTA RESOURCES                                | Vedanta Resources Finance II PLC                                                 | CUSIP: 000000000<br>LEI: 8945002DGA3BBXO3N634 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $176912.50    | 0.03%             | 2024-01-21      | Fixed         | 13.88%                | No            |                  2 | On Loan: No      |
| FORTRESS TRANS & INFRAST                         | Fortress Transportation and Infrastructure Investors LLC                         | CUSIP: 34960PAB7<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |    112000 | PA      | $108416.00    | 0.02%             | 2025-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                          | Frontier Communications Holdings LLC                                             | CUSIP: 35908MAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    213000 | PA      | $174964.59    | 0.03%             | 2030-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Republic of Indonesia                            | Indonesia Government International Bond                                          | CUSIP: 455780CF1<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |    947000 | PA      | $930605.06    | 0.16%             | 2028-04-24      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| EQM MIDSTREAM PARTNERS L                         | EQM Midstream Partners LP                                                        | CUSIP: 26885BAB6<br>LEI: 549300NELT611CL6XM83 | Long             | DBT              | CORP              | US        |    131000 | PA      | $118508.35    | 0.02%             | 2026-12-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Stevens Holding Co Inc                           | Stevens Holding Co Inc                                                           | CUSIP: 86024TAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    197000 | PA      | $199927.42    | 0.03%             | 2026-10-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| KAISER ALUMINUM CORP                             | Kaiser Aluminum Corp                                                             | CUSIP: 483007AJ9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    281000 | PA      | $256553.00    | 0.04%             | 2028-03-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| NOVELIS CORP                                     | Novelis Corp                                                                     | CUSIP: 670001AH9<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |    995000 | PA      | $839780.00    | 0.15%             | 2031-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                      | BNP Paribas SA                                                                   | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $217158.28    | 0.04%             | 2029-12-06      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| UBER TECHNOLOGIES INC                            | Uber Technologies Inc                                                            | CUSIP: 90353TAC4<br>LEI: 549300B2FTG34FILDR98 | Long             | DBT              | CORP              | US        |    983000 | PA      | $1006238.12   | 0.18%             | 2026-11-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| WILLIAM CARTER                                   | William Carter Co/The                                                            | CUSIP: 96926JAC1<br>LEI: TGI2A0HXEYNQPU7TYV27 | Long             | DBT              | CORP              | US        |     28000 | PA      | $27240.08     | 0.00%             | 2027-03-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP PETROLEOS M                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -256172 | PA      | $-256171.60   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| NOMURA SECURITIES INTERNATIONAL INC              | RRP CAESARS ENT                                                                  | CUSIP: 000000000<br>LEI: OXTKY6Q8X53C9ILVV871 | Short            | RA               | CORP              | US        |  -1910000 | PA      | $-1910000.00  | -0.33%            |  |  |  | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP SUMMIT MATE                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -163724 | PA      | $-163723.75   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| Sirius XM Radio Inc                              | Sirius XM Radio Inc                                                              | CUSIP: 82967NBA5<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |    552000 | PA      | $522330.00    | 0.09%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TIMES CHINA HLDG LTD                             | Times China Holdings Ltd                                                         | CUSIP: 000000000<br>LEI: 2549000KTINB9ZPZP710 | Long             | DBT              | CORP              | KY        |         0 | PA      | $0.00         | 0.00%             | 2025-07-08      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| EQM MIDSTREAM PARTNERS L                         | EQM Midstream Partners LP                                                        | CUSIP: 26885BAK6<br>LEI: 549300NELT611CL6XM83 | Long             | DBT              | CORP              | US        |     34000 | PA      | $29820.04     | 0.01%             | 2029-01-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Lealand Finance Company B.V.                     | Lealand Finance Company B.V. 2020 Make Whole Term Loan                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | NL        |     17205 | PA      | $10581.33     | 0.00%             | 2024-06-28      | Floating      | 7.57%                 | No            |                  2 | On Loan: No      |
| American Money Management Corporation            | Ammc Clo 19 Ltd                                                                  | CUSIP: 00176QAA8<br>LEI: 549300MYS7FLQJZMYD18 | Long             | ABS-CBDO         | CORP              | KY        |   1024424 | PA      | $996250.58    | 0.17%             | 2028-10-15      | Floating      | 11.79%                | No            |                  2 | On Loan: No      |
| VODAFONE GROUP PLC                               | Vodafone Group PLC                                                               | CUSIP: 92857WBV1<br>LEI: 213800TB53ELEUKM7Q61 | Long             | DBT              | CORP              | GB        |     58000 | PA      | $50315.00     | 0.01%             | 2081-06-04      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| MICROSTRATEGY INC                                | MicroStrategy Inc                                                                | CUSIP: 594972AF8<br>LEI: 549300WQTWEJUEHXQX21 | Long             | DBT              | CORP              | US        |    577000 | PA      | $486932.63    | 0.09%             | 2028-06-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| GOL FINANCE SA                                   | Gol Finance SA                                                                   | CUSIP: 36254VAC2<br>LEI: 5299007RH8MA67ZC6J07 | Long             | DBT              | CORP              | LU        |    200000 | PA      | $136850.00    | 0.02%             | 2026-06-30      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                          | RRP PHILIP MORR                                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -745875 | PA      | $-745875.00   | -0.13%            |  |  |  | No            |                  2 | On Loan: No      |
| SABRE GLBL INC                                   | Sabre GLBL Inc                                                                   | CUSIP: 78573NAF9<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | DBT              | CORP              | US        |    336000 | PA      | $329571.32    | 0.06%             | 2025-09-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| ROMANIA                                          | Romanian Government International Bond                                           | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |    428000 | PA      | $340832.50    | 0.06%             | 2031-07-16      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| PT Pertamina (Persero)                           | Pertamina Persero PT                                                             | CUSIP: 69370RAD9<br>LEI: 254900NDAKGNZ2IBBL45 | Long             | DBT              | CORP              | ID        |    352000 | PA      | $324758.72    | 0.06%             | 2029-07-30      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| CD&R SMOKEY BUYER INC                            | CD&R Smokey Buyer Inc                                                            | CUSIP: 12510CAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     27000 | PA      | $24502.50     | 0.00%             | 2025-07-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| NOMURA SECURITIES INTERNATIONAL INC              | RRP CENTENE COR                                                                  | CUSIP: 000000000<br>LEI: OXTKY6Q8X53C9ILVV871 | Short            | RA               | CORP              | US        |   -413522 | PA      | $-413522.50   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| Bombardier Inc                                   | Bombardier Inc                                                                   | CUSIP: 097751BT7<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |    781000 | PA      | $780334.41    | 0.14%             | 2027-04-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| MURPHY OIL CORP                                  | Murphy Oil Corp                                                                  | CUSIP: 626717AM4<br>LEI: QBKYQD0ODE7DC7PDIN91 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24438.50     | 0.00%             | 2027-12-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| BX Trust                                         | BX Trust 2021-LBA                                                                | CUSIP: 05609BCD9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1650000 | PA      | $1596899.54   | 0.28%             | 2036-02-15      | Floating      | 5.26%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AG                                 | CDS: (CMBX.NA.7.BBB-)                                                            | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DCR              |  | US        |  25000000 | OU      | $4704166.67   | 0.82%             |  |  |  | No            |                  2 | On Loan: No      |
| CIFI HOLDINGS GROUP                              | CIFI Holdings Group Co Ltd                                                       | CUSIP: 000000000<br>LEI: 549300WGKSV867C0JF48 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $61500.00     | 0.01%             | 2025-07-16      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MATTAMY GROUP CORP                               | Mattamy Group Corp                                                               | CUSIP: 57701RAM4<br>LEI: 5493008TNY7A82WCXU31 | Long             | DBT              | CORP              | CA        |    257000 | PA      | $216751.23    | 0.04%             | 2030-03-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| PHILIP MORRIS INTL INC                           | Philip Morris International Inc                                                  | CUSIP: 718172AM1<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |    900000 | PA      | $792598.96    | 0.14%             | 2041-11-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| MPT OPER PARTNERSP/FINL                          | MPT Operating Partnership LP / MPT Finance Corp                                  | CUSIP: 55342UAM6<br>LEI: N/A                  | Long             | DBT              |  | US        |   1730000 | PA      | $1211013.87   | 0.21%             | 2031-03-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                      | RRP FNMA 40YR R                                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |  -4963626 | PA      | $-4963626.22  | -0.87%            |  |  |  | No            |                  2 | On Loan: No      |
| BOYD GAMING CORP                                 | Boyd Gaming Corp                                                                 | CUSIP: 103304BV2<br>LEI: 254900787YGRYS2A1Z35 | Long             | DBT              | CORP              | US        |    495000 | PA      | $445405.95    | 0.08%             | 2031-06-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| eG Global Finance PLC                            | eG Global Finance PLC                                                            | CUSIP: 28228PAA9<br>LEI: 549300TL8Q5207VYET27 | Long             | DBT              | CORP              | GB        |    252000 | PA      | $234045.00    | 0.04%             | 2025-02-07      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Voya CLO Ltd                                     | Voya CLO 2021-1 Ltd                                                              | CUSIP: 92918QAJ9<br>LEI: 549300TZK6NKU72KPL60 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $235189.58    | 0.04%             | 2034-07-15      | Floating      | 7.94%                 | No            |                  2 | On Loan: No      |
| CHENIERE ENERGY PARTNERS                         | Cheniere Energy Partners LP                                                      | CUSIP: 16411QAG6<br>LEI: 5493005UEC8AZ34LDV29 | Long             | DBT              | CORP              | US        |   1454000 | PA      | $1364026.48   | 0.24%             | 2029-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA NA                               | SWAP/CDSWAP/SCDS: (LOXAM)                                                        | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DCR              |  | XX        |     30000 | OU      | $-2457.27     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MGIC INVESTMENT CORP                             | MGIC Investment Corp                                                             | CUSIP: 552848AG8<br>LEI: 254900S8483WM4M98R28 | Long             | DBT              | CORP              | US        |    216000 | PA      | $203623.20    | 0.04%             | 2028-08-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK SA | RRP PETROLEOS M                                                                  | CUSIP: 000000000<br>LEI: 1VUV7VQFKUOQSJ21A208 | Short            | RA               | CORP              | US        |   -330633 | PA      | $-330633.10   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| TD SECURITIES USA LLC                            | RRP VOYA FINANC                                                                  | CUSIP: 000000000<br>LEI: SUVUFHICNZMP2WKHG940 | Short            | RA               | CORP              | US        |  -1015062 | PA      | $-1015062.50  | -0.18%            |  |  |  | No            |                  2 | On Loan: No      |
| Apache Corp                                      | Apache Corp                                                                      | CUSIP: 037411AW5<br>LEI: 72ZZ1XRHOOU9P9X16K08 | Long             | DBT              | CORP              | US        |    520000 | PA      | $454090.00    | 0.08%             | 2040-09-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Peloton Interactive, Inc                         | Peloton Interactive, Inc Term Loan                                               | CUSIP: 70614EAD2<br>LEI: 5493002YS021166W0339 | Long             | LON              | CORP              | US        |    131340 | PA      | $130081.76    | 0.02%             | 2027-05-25      | Variable      | 11.76%                | No            |                  2 | On Loan: No      |
| SOLIS IV BV                                      | Solis IV BV USD Term Loan B1                                                     | CUSIP: 000000000<br>LEI: 529900811T142NS3H544 | Long             | LON              | CORP              | US        |    275615 | PA      | $252016.84    | 0.04%             | 2029-02-26      | Variable      | 7.86%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                | RRP COLOMBIA (R                                                                  | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Short            | RA               | CORP              | US        |   -486594 | PA      | $-486593.75   | -0.09%            |  |  |  | No            |                  2 | On Loan: No      |
| CLEAN HARBORS INC                                | Clean Harbors Inc                                                                | CUSIP: 184496AP2<br>LEI: 5493000SJVZVZJKHJF48 | Long             | DBT              | CORP              | US        |    149000 | PA      | $143069.80    | 0.03%             | 2029-07-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| COMSTOCK RESOURCES INC                           | Comstock Resources Inc                                                           | CUSIP: 205768AS3<br>LEI: I03QQGEA4SS774AURI46 | Long             | DBT              | CORP              | US        |    662000 | PA      | $610695.00    | 0.11%             | 2029-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ADT SEC CORP                                     | ADT Security Corp/The                                                            | CUSIP: 74166NAA2<br>LEI: 5493009JEEDYLVRA0J13 | Long             | DBT              | CORP              | US        |     57000 | PA      | $50864.53     | 0.01%             | 2032-07-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP DARLING ING                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -413572 | PA      | $-413572.50   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| CROWN AMER/CAP CORP VI                           | Crown Americas LLC / Crown Americas Capital Corp VI                              | CUSIP: 228187AB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    258000 | PA      | $252050.52    | 0.04%             | 2026-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ACRISURE LLC / FIN INC                           | Acrisure LLC / Acrisure Finance Inc                                              | CUSIP: 00489LAH6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    295000 | PA      | $243375.00    | 0.04%             | 2029-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| TALLGRASS NRG PRTNR/FIN                          | Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp                     | CUSIP: 87470LAD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     98000 | PA      | $90246.73     | 0.02%             | 2028-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ARDAGH METAL PACKAGING                           | Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC      | CUSIP: 03969YAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    736000 | PA      | $733939.20    | 0.13%             | 2027-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| SHUI ON DEVELOPMENT HLDG                         | Shui On Development Holding Ltd                                                  | CUSIP: 000000000<br>LEI: 3003005J4J3G9CZFDK52 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $194500.00    | 0.03%             | 2023-11-12      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP FRONTIER CO                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -219892 | PA      | $-219892.50   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| Countrywide Home Equity Loan Trust               | CWHEQ Revolving Home Equity Loan Trust Series 2006-I                             | CUSIP: 12668FAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    450448 | PA      | $416269.72    | 0.07%             | 2037-01-15      | Floating      | 4.59%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP NABORS INDU                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -310905 | PA      | $-310905.00   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| APX GROUP INC                                    | APX Group Inc                                                                    | CUSIP: 00213MAW4<br>LEI: 549300OMQVKPRU98OE64 | Long             | DBT              | CORP              | US        |    342000 | PA      | $295852.39    | 0.05%             | 2029-07-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP NOVELIS COR                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -570931 | PA      | $-570931.25   | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| H.B. FULLER CO                                   | HB Fuller Co                                                                     | CUSIP: 40410KAA3<br>LEI: JSMX3Z5FOYM8V0Q52357 | Long             | DBT              | CORP              | US        |    141000 | PA      | $124785.00    | 0.02%             | 2028-10-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| California County Tobacco Securitization Agency  | CALIFORNIA CNTY CA TOBACCO SECURITIZATION AGY TOBACCO SETTLE                     | CUSIP: 13016NFC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1230000 | PA      | $222262.23    | 0.04%             | 2055-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| TD SECURITIES USA LLC                            | RRP BOOKING HOL                                                                  | CUSIP: 000000000<br>LEI: SUVUFHICNZMP2WKHG940 | Short            | RA               | CORP              | US        |    -78592 | PA      | $-78592.50    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                         | CHS/Community Health Systems Inc                                                 | CUSIP: 12543DBM1<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |    811000 | PA      | $654412.12    | 0.11%             | 2030-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Bluemountain CLO Ltd                             | BlueMountain CLO 2013-2 Ltd                                                      | CUSIP: 09626YAN0<br>LEI: 549300KGXMRFX2DKIX03 | Long             | ABS-CBDO         | CORP              | KY        |    480835 | PA      | $476625.05    | 0.08%             | 2030-10-22      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                      | Freddie Mac REMICS                                                               | CUSIP: 3137BKBJ8<br>LEI: 254900HROIFWPRGM1V77 | Long             | ABS-MBS          | USGSE             | US        |   4990819 | PA      | $4854150.52   | 0.85%             | 2044-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                                   | Bombardier Inc                                                                   | CUSIP: 097751BX8<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |    683000 | PA      | $647745.86    | 0.11%             | 2028-02-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                        | Uniform Mortgage-Backed Security, TBA                                            | CUSIP: 01F042624<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |  12658000 | PA      | $12499775.00  | 2.19%             | 2053-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| LMIRT CAPITAL PTE LTD                            | LMIRT Capital Pte Ltd                                                            | CUSIP: 000000000<br>LEI: 5493009IDXHZSVD2BI70 | Long             | DBT              |  | SG        |    232000 | PA      | $174000.00    | 0.03%             | 2024-06-19      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                             | OneMain Finance Corp                                                             | CUSIP: 682691AB6<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    389000 | PA      | $338319.58    | 0.06%             | 2027-01-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Nabors Industries Inc                            | Nabors Industries Inc                                                            | CUSIP: 62957HAF2<br>LEI: 549300VFQWRKICUFNU92 | Long             | DBT              | CORP              | US        |    881000 | PA      | $854177.96    | 0.15%             | 2025-02-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| LUMEN TECHNOLOGIES INC                           | Lumen Technologies Inc                                                           | CUSIP: 156700BC9<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |   1298000 | PA      | $1094541.75   | 0.19%             | 2027-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FERTITTA ENTERTAINMENT                           | Fertitta Entertainment LLC / Fertitta Entertainment Finance Co Inc               | CUSIP: 31556TAC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     82000 | PA      | $68060.00     | 0.01%             | 2030-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES USA, INC.                        | RRP BROADCOM IN                                                                  | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | Short            | RA               | CORP              | US        |   -205155 | PA      | $-205155.00   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| Brookside Mill CLO Ltd                           | Brookside Mill CLO Ltd 2013-1                                                    | CUSIP: 114521AP2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $241559.10    | 0.04%             | 2028-01-17      | Floating      | 7.44%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                            | Level 3 Financing Inc                                                            | CUSIP: 527298BR3<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    941000 | PA      | $745733.09    | 0.13%             | 2028-07-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| BWX TECHNOLOGIES INC                             | BWX Technologies Inc                                                             | CUSIP: 05605HAB6<br>LEI: 549300NP85N265KWMS58 | Long             | DBT              | CORP              | US        |     22000 | PA      | $19855.13     | 0.00%             | 2028-06-30      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| New Arclin U.S. Holding Corp.                    | New Arclin U.S. Holding Corp. 2021 Term Loan                                     | CUSIP: 03880YAC8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    207143 | PA      | $184771.82    | 0.03%             | 2028-09-30      | Floating      | 8.32%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP AVANTOR FUN                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -657519 | PA      | $-657518.75   | -0.12%            |  |  |  | No            |                  2 | On Loan: No      |
| VZ SECURED FINANCING BV                          | VZ Secured Financing BV                                                          | CUSIP: 000000000<br>LEI: 549300MG611MYCOWY949 | Long             | DBT              | CORP              | NL        |    100000 | PA      | $86428.45     | 0.02%             | 2032-01-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| MSCI INC                                         | MSCI Inc                                                                         | CUSIP: 55354GAH3<br>LEI: 549300HTIN2PD78UB763 | Long             | DBT              | CORP              | US        |     99000 | PA      | $90090.00     | 0.02%             | 2029-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SOUTH AFRICA                         | Republic of South Africa Government International Bond                           | CUSIP: 836205BC7<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    390000 | PA      | $361237.50    | 0.06%             | 2032-04-20      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| MSCI INC                                         | MSCI Inc                                                                         | CUSIP: 55354GAL4<br>LEI: 549300HTIN2PD78UB763 | Long             | DBT              | CORP              | US        |    136000 | PA      | $120029.52    | 0.02%             | 2031-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Cold Storage Trust                               | Cold Storage Trust 2020-ICE5                                                     | CUSIP: 193051AA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    101248 | PA      | $99725.87     | 0.02%             | 2037-11-15      | Floating      | 5.36%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                      | RRP FNMA 15YR F                                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -366702 | PA      | $-366701.59   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| Republic of Colombia                             | Colombia Government International Bond                                           | CUSIP: 195325CX1<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    542000 | PA      | $517542.25    | 0.09%             | 2026-01-28      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                         | J.P. Morgan Mortgage Trust 2022-DSC1                                             | CUSIP: 46656AAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    553630 | PA      | $539724.10    | 0.09%             | 2063-01-25      | Variable      | 4.75%                 | No            |                  2 | On Loan: No      |
| AEROPUERTO INTL TOCUMEN                          | Aeropuerto Internacional de Tocumen SA                                           | CUSIP: 00787CAE2<br>LEI: 254900FO1PHX49ZIGB14 | Long             | DBT              | CORP              | PA        |    320000 | PA      | $259560.00    | 0.05%             | 2061-08-11      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Waste Pro USA Inc                                | Waste Pro USA Inc                                                                | CUSIP: 94107JAA1<br>LEI: 549300BY1QXU5BI3UF28 | Long             | DBT              | CORP              | US        |   1043000 | PA      | $969990.00    | 0.17%             | 2026-02-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Discovery Purchaser Corporation                  | Discovery Purchaser Corporation Term Loan                                        | CUSIP: 000000000<br>LEI: 2549001LSO1ZBIPA5D65 | Long             | LON              | CORP              | US        |    668000 | PA      | $638080.28    | 0.11%             | 2029-10-04      | Variable      | 8.96%                 | No            |                  2 | On Loan: No      |
| AVIANCA MIDCO 2 PLC                              | Avianca Midco 2 PLC                                                              | CUSIP: 05368PAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |    303929 | PA      | $227946.75    | 0.04%             | 2028-12-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Countrywide Alternative Loan Trust               | Alternative Loan Trust 2006-J8                                                   | CUSIP: 23245LAE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1830992 | PA      | $834527.99    | 0.15%             | 2037-02-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GARTNER INC                                      | Gartner Inc                                                                      | CUSIP: 366651AG2<br>LEI: PP55B5R38BFB8O8HH686 | Long             | DBT              | CORP              | US        |     70000 | PA      | $62860.00     | 0.01%             | 2029-06-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                          | RRP AT+T INC 4.                                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |    -92130 | PA      | $-92130.00    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| VIDEOTRON LTD                                    | Videotron Ltd                                                                    | CUSIP: 92660FAN4<br>LEI: 549300LW4GNJRBECSD81 | Long             | DBT              | CORP              | CA        |    336000 | PA      | $292338.52    | 0.05%             | 2029-06-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP CNX RESOURC                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -199325 | PA      | $-199325.00   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| Regatta VIII Funding Ltd                         | Regatta VIII Funding Ltd                                                         | CUSIP: 75888KAA2<br>LEI: 2549002R0TTC87W9EH67 | Long             | ABS-CBDO         | CORP              | KY        |    432422 | PA      | $430196.33    | 0.08%             | 2030-10-17      | Floating      | 6.04%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                      | RRP CITIGROUP I                                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |  -1652500 | PA      | $-1652500.00  | -0.29%            |  |  |  | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                           | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCQ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    584000 | PA      | $496400.00    | 0.09%             | 2032-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| GFL ENVIRONMENTAL INC                            | GFL Environmental Inc                                                            | CUSIP: 36168QAF1<br>LEI: 549300FYK4MBXWIVZU26 | Long             | DBT              | CORP              | CA        |    496000 | PA      | $482484.00    | 0.08%             | 2026-12-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                             | OneMain Finance Corp                                                             | CUSIP: 85172FAR0<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    131000 | PA      | $114703.60    | 0.02%             | 2029-11-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                             | OneMain Finance Corp                                                             | CUSIP: 85172FAN9<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    422000 | PA      | $419238.01    | 0.07%             | 2026-03-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| Planview Parent, Inc.                            | Planview Parent, Inc. 2nd Lien Term Loan                                         | CUSIP: 000000000<br>LEI: 549300SEALM1D9FKMA32 | Long             | LON              | CORP              | US        |    195000 | PA      | $172249.35    | 0.03%             | 2028-12-18      | Floating      | 11.98%                | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP CCO HOLDING                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -641981 | PA      | $-641981.25   | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| TK ELEVATOR MIDCO GMBH                           | TK Elevator Midco GmbH                                                           | CUSIP: 000000000<br>LEI: 254900K869UN2ZWVB351 | Long             | DBT              | CORP              | DE        |    235000 | PA      | $230724.28    | 0.04%             | 2027-07-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Countrywide Alternative Loan Trust               | Alternative Loan Trust 2006-OA6                                                  | CUSIP: 12668BD91<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3404910 | PA      | $2702025.61   | 0.47%             | 2046-07-25      | Floating      | 4.93%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                     | Broadcom Inc                                                                     | CUSIP: 11135FAS0<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    856000 | PA      | $788266.05    | 0.14%             | 2032-11-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| THAMES WATER KEMBLE FINA                         | Thames Water Kemble Finance PLC                                                  | CUSIP: 000000000<br>LEI: 213800S7UU2MQXYJQO60 | Long             | DBT              | CORP              | GB        |    168000 | PA      | $180708.22    | 0.03%             | 2026-05-19      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| ALLIANT HOLD / CO-ISSUER                         | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                   | CUSIP: 01883LAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2228000 | PA      | $2041861.74   | 0.36%             | 2027-10-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Mattel Inc                                       | Mattel Inc                                                                       | CUSIP: 577081AW2<br>LEI: 549300VELLG24KHTJ564 | Long             | DBT              | CORP              | US        |    326000 | PA      | $279008.71    | 0.05%             | 2041-11-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| LCM INVESTMENTS HOLDINGS                         | LCM Investments Holdings II LLC                                                  | CUSIP: 50190EAA2<br>LEI: 549300P5V78NNQTG4428 | Long             | DBT              | CORP              | US        |    373000 | PA      | $307818.25    | 0.05%             | 2029-05-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| MATCH GROUP HLD II LLC                           | Match Group Holdings II LLC                                                      | CUSIP: 57667JAA0<br>LEI: 5493003RFFE030RC9167 | Long             | DBT              | CORP              | US        |    635000 | PA      | $509587.50    | 0.09%             | 2031-10-01      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| CNX RESOURCES CORP                               | CNX Resources Corp                                                               | CUSIP: 12653CAJ7<br>LEI: 549300JK3KH8PWM3B226 | Long             | DBT              | CORP              | US        |    139000 | PA      | $127598.81    | 0.02%             | 2029-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| HEIMSTADEN BOSTAD AB                             | Heimstaden Bostad AB                                                             | CUSIP: 000000000<br>LEI: 549300TJR3PR8EXILG79 | Long             | DBT              | CORP              | SE        |    100000 | PA      | $63614.60     | 0.01%             | 2027-02-01      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                       | Verus Securitization Trust 2023-1                                                | CUSIP: 92539BAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    345821 | PA      | $346138.46    | 0.06%             | 2067-12-25      | Variable      | 5.85%                 | No            |                  2 | On Loan: No      |
| ENEL FINANCE INTL NV                             | Enel Finance International NV                                                    | CUSIP: 29278GAA6<br>LEI: 0YQH6LCEF474UTUV4B96 | Long             | DBT              | CORP              | NL        |   1250000 | PA      | $1181285.36   | 0.21%             | 2027-05-25      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                     | Barclays PLC                                                                     | CUSIP: 06738EBX2<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    275000 | PA      | $276141.25    | 0.05%             | 2029-03-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| LIBERTY BROADBAND CORP                           | Liberty Broadband Corp                                                           | CUSIP: 530307AA5<br>LEI: 549300MIX43II8JLN536 | Long             | DBT              | CORP              | US        |    727000 | PA      | $712436.90    | 0.12%             | 2050-09-30      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Sealed Air Corp                                  | Sealed Air Corp                                                                  | CUSIP: 81211KAW0<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | DBT              | CORP              | US        |     54000 | PA      | $53595.00     | 0.01%             | 2024-12-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| HEALTHEQUITY INC                                 | HealthEquity Inc                                                                 | CUSIP: 42226AAA5<br>LEI: 529900LRJU1RAFQHM467 | Long             | DBT              | CORP              | US        |    819000 | PA      | $733250.70    | 0.13%             | 2029-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Countrywide Alternative Loan Trust               | Alternative Loan Trust 2006-OA16                                                 | CUSIP: 23242GAE4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2886174 | PA      | $2554756.89   | 0.45%             | 2046-10-25      | Floating      | 4.89%                 | No            |                  2 | On Loan: No      |
| TD SECURITIES USA LLC                            | RRP BERKSHIRE H                                                                  | CUSIP: 000000000<br>LEI: SUVUFHICNZMP2WKHG940 | Short            | RA               | CORP              | US        |   -232812 | PA      | $-232812.50   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| BOOZ ALLEN HAMILTON INC                          | Booz Allen Hamilton Inc                                                          | CUSIP: 09951LAA1<br>LEI: 549300D7XCH2480XU542 | Long             | DBT              | CORP              | US        |    352000 | PA      | $318464.96    | 0.06%             | 2028-09-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| ATHENAHEALTH GROUP INC                           | AthenaHealth Group Inc                                                           | CUSIP: 60337JAA4<br>LEI: 254900AA3KZN4Q7A5Z33 | Long             | DBT              | CORP              | US        |   1659000 | PA      | $1374501.74   | 0.24%             | 2030-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| LADDER CAP FIN LLLP/CORP                         | Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp               | CUSIP: 505742AM8<br>LEI: N/A                  | Long             | DBT              |  | US        |    220000 | PA      | $193875.00    | 0.03%             | 2027-02-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| NUSTAR LOGISTICS LP                              | NuStar Logistics LP                                                              | CUSIP: 67059TAH8<br>LEI: N62BF2PKP51FIIOIUN20 | Long             | DBT              | CORP              | US        |     30000 | PA      | $28897.50     | 0.01%             | 2030-10-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| OMAN GOV INTERNTL BOND                           | Oman Government International Bond                                               | CUSIP: 000000000<br>LEI: 549300SZ20F0QTKNQC75 | Long             | DBT              | NUSS              | OM        |    309000 | PA      | $303206.25    | 0.05%             | 2048-01-17      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| STAR ENERGY GEOTHERMAL                           | Star Energy Geothermal Wayang Windu Ltd                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | VG        |    162160 | PA      | $157092.50    | 0.03%             | 2033-04-24      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage Trust               | Ellington Financial Mortgage Trust 2021-2                                        | CUSIP: 31572LAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    217321 | PA      | $178009.89    | 0.03%             | 2066-06-25      | Variable      | 0.93%                 | No            |                  2 | On Loan: No      |
| SK INVICTUS INTERMEDIATE                         | SK Invictus Intermediate II Sarl                                                 | CUSIP: 29977LAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    703000 | PA      | $576460.00    | 0.10%             | 2029-10-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE SA                                 | Altice France SA/France                                                          | CUSIP: 02156LAF8<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |   1206000 | PA      | $946613.52    | 0.17%             | 2029-07-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| PREMIER FOODS FINANCE                            | Premier Foods Finance PLC                                                        | CUSIP: 000000000<br>LEI: 2138003G41QDLK9DB177 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $110322.77    | 0.02%             | 2026-10-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| ARES CLO Ltd                                     | ARES XLVII CLO Ltd                                                               | CUSIP: 04016VAA3<br>LEI: 5493001J0ZSE1Y09WE50 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $247521.65    | 0.04%             | 2030-04-15      | Floating      | 5.71%                 | No            |                  2 | On Loan: No      |
| NOMURA SECURITIES INTERNATIONAL INC              | RRP BOYD GAMING                                                                  | CUSIP: 000000000<br>LEI: OXTKY6Q8X53C9ILVV871 | Short            | RA               | CORP              | US        |   -417656 | PA      | $-417656.25   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| STILLWATER MINING CO                             | Stillwater Mining Co                                                             | CUSIP: 000000000<br>LEI: 6354007DPCY4ZN2MRR73 | Long             | DBT              | CORP              | US        |    426000 | PA      | $394050.00    | 0.07%             | 2026-11-16      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| JP MORGAN SECURITIES LLC                         | RRP JBS USA LUX                                                                  | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | Short            | RA               | CORP              | US        |   -191250 | PA      | $-191250.00   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                               | Energy Transfer LP                                                               | CUSIP: 29273RBJ7<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    500000 | PA      | $499734.35    | 0.09%             | 2045-12-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                   | NRG Energy Inc                                                                   | CUSIP: 629377CR1<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    365000 | PA      | $289116.50    | 0.05%             | 2031-02-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| HSBC Holdings PLC                                | HSBC Holdings PLC                                                                | CUSIP: 404280BH1<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    370000 | PA      | $364231.79    | 0.06%             | 2026-11-23      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| HUNGARY                                          | Hungary Government International Bond                                            | CUSIP: 445545AP1<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |    250000 | PA      | $247187.50    | 0.04%             | 2029-06-16      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SIRIUS XM RADIO INC                              | Sirius XM Radio Inc                                                              | CUSIP: 82967NBC1<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |    454000 | PA      | $425466.10    | 0.07%             | 2029-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Republic of Colombia                             | Colombia Government International Bond                                           | CUSIP: 195325DL6<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    200000 | PA      | $181037.50    | 0.03%             | 2027-04-25      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| TD SECURITIES USA LLC                            | RRP GLOBAL PAYM                                                                  | CUSIP: 000000000<br>LEI: SUVUFHICNZMP2WKHG940 | Short            | RA               | CORP              | US        |   -305509 | PA      | $-305508.75   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| SkyMiles IP Ltd.                                 | SkyMiles IP Ltd. 2020 Skymiles Term Loan B                                       | CUSIP: 24736CBS2<br>LEI: 2549008L7P4I8VB90936 | Long             | LON              | CORP              | KY        |    361950 | PA      | $373941.40    | 0.07%             | 2027-10-20      | Floating      | 8.56%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                      | SWP: USD 1.731000 08-OCT-2036                                                    | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |  32800000 | OU      | $6219571.91   | 1.09%             |  |  |  | No            |                  2 | On Loan: No      |
| VICI PROPERTIES / NOTE                           | VICI Properties LP / VICI Note Co Inc                                            | CUSIP: 92564RAG0<br>LEI: N/A                  | Long             | DBT              |  | US        |     60000 | PA      | $58067.92     | 0.01%             | 2025-06-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                         | Occidental Petroleum Corp                                                        | CUSIP: 674599DL6<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |     49000 | PA      | $52178.63     | 0.01%             | 2046-03-15      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| NIDDA HEALTHCARE HOLDING                         | Nidda Healthcare Holding GmbH                                                    | CUSIP: 000000000<br>LEI: 549300Q89C4WAO6L0L19 | Long             | DBT              | CORP              | DE        |    100000 | PA      | $105877.57    | 0.02%             | 2026-08-21      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| RegionalCare Hospital Partners Holdings, Inc.    | RegionalCare Hospital Partners Holdings, Inc. 2018 Term Loan B                   | CUSIP: 75915TAD4<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | LON              | CORP              | US        |    145759 | PA      | $141426.95    | 0.02%             | 2025-11-16      | Floating      | 8.58%                 | No            |                  2 | On Loan: No      |
| LIVE NATION ENTERTAINMEN                         | Live Nation Entertainment Inc                                                    | CUSIP: 538034AR0<br>LEI: 5493007B9BM9ZXJINO78 | Long             | DBT              | CORP              | US        |    606000 | PA      | $560550.00    | 0.10%             | 2027-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| NORTHWEST FIBER LLC/NORT                         | Northwest Fiber LLC / Northwest Fiber Finance Sub Inc                            | CUSIP: 667449AD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    387000 | PA      | $351229.83    | 0.06%             | 2027-04-30      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| RAPTOR ACQ/RAPTOR CO-ISS                         | Raptor Acquisition Corp / Raptor Co-Issuer LLC                                   | CUSIP: 75383KAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    225000 | PA      | $209250.00    | 0.04%             | 2026-11-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| RIO TINTO FIN USA PLC                            | Rio Tinto Finance USA PLC                                                        | CUSIP: 76720AAD8<br>LEI: 2138006TSNBEUA761G16 | Long             | DBT              | CORP              | GB        |    400000 | PA      | $398160.84    | 0.07%             | 2042-03-22      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CHENIERE ENERGY INC                              | Cheniere Energy Inc                                                              | CUSIP: 16411RAK5<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | DBT              | CORP              | US        |     99000 | PA      | $94262.85     | 0.02%             | 2028-10-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                      | RRP FHLMC 30YR                                                                   | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -126978 | PA      | $-126977.54   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| WEATHERFORD INTERNATIONA                         | Weatherford International Ltd                                                    | CUSIP: 947075AU1<br>LEI: 549300A2JKMG5PGOGF82 | Long             | DBT              | CORP              | BM        |    408000 | PA      | $411839.28    | 0.07%             | 2030-04-30      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| K HOVNANIAN ENTERPRISES                          | K Hovnanian Enterprises Inc                                                      | CUSIP: 48251UAF5<br>LEI: 549300JJCQ0KAI7CJG32 | Long             | DBT              | CORP              | US        |    284000 | PA      | $275490.02    | 0.05%             | 2026-02-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE BANK                             | SWAP/CDSWAP/SCDS: (COFP)                                                         | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DCR              |  | XX        |    100000 | OU      | $-8941.25     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| NOMURA SECURITIES INTERNATIONAL INC              | RRP OCCIDENTAL                                                                   | CUSIP: 000000000<br>LEI: OXTKY6Q8X53C9ILVV871 | Short            | RA               | CORP              | US        |   -433008 | PA      | $-433007.50   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                          | RRP SUNCOR ENER                                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -816000 | PA      | $-816000.00   | -0.14%            |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                     | Barclays PLC                                                                     | CUSIP: 06738EBT1<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    585000 | PA      | $475504.61    | 0.08%             | 2028-03-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                     | Broadcom Inc                                                                     | CUSIP: 11135FBH3<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    221000 | PA      | $181416.06    | 0.03%             | 2031-02-15      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                      | RRP ROCKET MORT                                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -443602 | PA      | $-443602.50   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| Banff Merger Sub Inc                             | Banff Merger Sub Inc 2021 USD 2nd Lien Term Loan                                 | CUSIP: 000000000<br>LEI: 5493006T045HLTF7YX04 | Long             | LON              | CORP              | US        |    529000 | PA      | $497260.00    | 0.09%             | 2026-02-27      | Floating      | 10.07%                | No            |                  2 | On Loan: No      |
| JP MORGAN SECURITIES LLC                         | RRP ARDAGH META                                                                  | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | Short            | RA               | CORP              | US        |   -450750 | PA      | $-450750.00   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| UKRAINE GOVERNMENT                               | Ukraine Government International Bond                                            | CUSIP: 000000000<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |    226000 | PA      | $48208.63     | 0.01%             | 2027-09-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| COMMSCOPE INC                                    | CommScope Inc                                                                    | CUSIP: 203372AV9<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |    188000 | PA      | $147270.04    | 0.03%             | 2028-07-01      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE HOLDING SA                         | Altice France Holding SA                                                         | CUSIP: 02156TAB0<br>LEI: 5299000JVHXKJPOE6H40 | Long             | DBT              | CORP              | LU        |    776000 | PA      | $666390.00    | 0.12%             | 2027-05-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP INDIGO MERG                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |   -389900 | PA      | $-389900.00   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                               | Energy Transfer LP                                                               | CUSIP: 29273VAQ3<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    240000 | PA      | $246648.00    | 0.04%             | 2033-02-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CNX RESOURCES CORP                               | CNX Resources Corp                                                               | CUSIP: 12653CAK4<br>LEI: 549300JK3KH8PWM3B226 | Long             | DBT              | CORP              | US        |    268000 | PA      | $260627.32    | 0.05%             | 2031-01-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| LAMB WESTON HLD                                  | Lamb Weston Holdings Inc                                                         | CUSIP: 513272AE4<br>LEI: 5493005SMYID1D2OY946 | Long             | DBT              | CORP              | US        |    477000 | PA      | $427186.89    | 0.07%             | 2032-01-31      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Apidos CLO                                       | Apidos CLO XXVII                                                                 | CUSIP: 03767JAF2<br>LEI: 549300EW146C7Q4UV387 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $248045.18    | 0.04%             | 2030-07-17      | Floating      | 5.72%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC           | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | US        |         1 | NC      | $3509.07      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                          | RRP QUALCOMM IN                                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -386000 | PA      | $-386000.00   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| NATIONSTAR MTG HLD INC                           | Nationstar Mortgage Holdings Inc                                                 | CUSIP: 63861CAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    136000 | PA      | $110160.00    | 0.02%             | 2030-12-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| TML HOLDINGS PTE LTD                             | TML Holdings Pte Ltd                                                             | CUSIP: 000000000<br>LEI: 254900EBGMM47QH02V57 | Long             | DBT              | CORP              | SG        |    200000 | PA      | $183350.00    | 0.03%             | 2026-06-09      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| Trestles CLO LTD                                 | TRESTLES CLO 2017-1 Ltd                                                          | CUSIP: 89531FAU1<br>LEI: 254900QSBDX181YYBH38 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $230201.95    | 0.04%             | 2032-04-25      | Floating      | 7.72%                 | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK SA | RRP SAUDI ARABI                                                                  | CUSIP: 000000000<br>LEI: 1VUV7VQFKUOQSJ21A208 | Short            | RA               | CORP              | US        |   -342542 | PA      | $-342542.50   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| LCPR SR SECURED FIN DAC                          | LCPR Senior Secured Financing DAC                                                | CUSIP: 50201DAD5<br>LEI: 549300LE5FM8IKMXSP90 | Long             | DBT              | CORP              | IE        |    686000 | PA      | $603680.00    | 0.11%             | 2029-07-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| DOBANK SPA                                       | doValue SpA                                                                      | CUSIP: 000000000<br>LEI: 8156007AF7DB5FE05555 | Long             | DBT              | CORP              | IT        |    100000 | PA      | $99849.32     | 0.02%             | 2026-07-31      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Osaka Exchange                                   | JPN 10Y BOND(OSE) MAR23                                                          | CUSIP: 000000000<br>LEI: 3538001249AILNPRUX57 | N/A              | DIR              |  | JP        |       -28 | NC      | $-47628.28    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| TD SECURITIES USA LLC                            | RRP ENERGY TRAN                                                                  | CUSIP: 000000000<br>LEI: SUVUFHICNZMP2WKHG940 | Short            | RA               | CORP              | US        |   -195262 | PA      | $-195262.50   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| SRS Distribution Inc.                            | SRS Distribution Inc. 2022 Incremental Term Loan                                 | CUSIP: 78466YAQ1<br>LEI: 549300ZQ3XP75BCYM468 | Long             | LON              | CORP              | US        |    287134 | PA      | $276547.22    | 0.05%             | 2028-06-02      | Variable      | 8.16%                 | No            |                  2 | On Loan: No      |
| GYP HOLDINGS III CORP                            | GYP Holdings III Corp                                                            | CUSIP: 36261NAA5<br>LEI: 549300055I1KJWZH9690 | Long             | DBT              | CORP              | US        |    300000 | PA      | $252952.54    | 0.04%             | 2029-05-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| WILLIAMS SCOTSMAN INTL                           | Williams Scotsman International Inc                                              | CUSIP: 96950GAE2<br>LEI: 549300V3TCHCBOBTGH07 | Long             | DBT              | CORP              | US        |    316000 | PA      | $292791.38    | 0.05%             | 2028-08-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| GLOBAL AIR LEASE CO LTD                          | Global Aircraft Leasing Co Ltd                                                   | CUSIP: 37960JAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    284860 | PA      | $260646.90    | 0.05%             | 2024-09-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| NOVELIS CORP                                     | Novelis Corp                                                                     | CUSIP: 670001AE6<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |   1059000 | PA      | $958395.00    | 0.17%             | 2030-01-30      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| WESTERN MIDSTREAM OPERAT                         | Western Midstream Operating LP                                                   | CUSIP: 958667AA5<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |    978000 | PA      | $848415.00    | 0.15%             | 2050-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NORTHWEST FIBER LLC/NORT                         | Northwest Fiber LLC / Northwest Fiber Finance Sub Inc                            | CUSIP: 667449AC6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    277000 | PA      | $228671.81    | 0.04%             | 2028-02-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| SM Energy Co                                     | SM Energy Co                                                                     | CUSIP: 78454LAL4<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |     72000 | PA      | $70560.00     | 0.01%             | 2025-06-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD                              | NCL Corp Ltd                                                                     | CUSIP: 62886HBG5<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |     54000 | PA      | $46436.22     | 0.01%             | 2029-02-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| WHITE CAP BUYER LLC                              | White Cap Buyer LLC                                                              | CUSIP: 96350RAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1491000 | PA      | $1357143.00   | 0.24%             | 2028-10-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                             | RRP HSBC HOLDIN                                                                  | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | Short            | RA               | CORP              | US        |   -324919 | PA      | $-324918.75   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| Chase Mortgage Finance Corporation               | Chase Home Lending Mortgage Trust 2019-ATR1                                      | CUSIP: 16158RAN6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    436911 | PA      | $435712.12    | 0.08%             | 2049-04-25      | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                          | RRP ENERGY TRAN                                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -282625 | PA      | $-282625.00   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                          | RRP VIRGINIA EL                                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -774375 | PA      | $-774375.00   | -0.14%            |  |  |  | No            |                  2 | On Loan: No      |
| Sovos Compliance, LLC                            | Sovos Compliance, LLC 2021 Delayed Draw Term Loan                                | CUSIP: 84611YAC4<br>LEI: 549300M9XYG5WP2QHH07 | Long             | LON              | CORP              | US        |         0 | PA      | $0.39         | 0.00%             | 2028-08-11      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| WOORI BANK                                       | Woori Bank                                                                       | CUSIP: 000000000<br>LEI: 549300VUVMRL6RE7R376 | Long             | DBT              | CORP              | KR        |    250000 | PA      | $239187.50    | 0.04%             | 2024-10-04      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP HERTZ CORPO                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |    -77350 | PA      | $-77350.00    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                          | RRP ORACLE CORP                                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -164688 | PA      | $-164687.50   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| BANK OF EAST ASIA LTD                            | Bank of East Asia Ltd/The                                                        | CUSIP: 000000000<br>LEI: CO6GC26LCGGRTUESIP55 | Long             | DBT              | CORP              | HK        |    250000 | PA      | $242703.13    | 0.04%             | 2024-09-19      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                          | Royal Caribbean Cruises Ltd                                                      | CUSIP: 780153BS0<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |    251000 | PA      | $259785.00    | 0.05%             | 2029-01-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| GCAT                                             | GCAT 2022-NQM3 Trust                                                             | CUSIP: 36168MAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1011629 | PA      | $992466.92    | 0.17%             | 2067-04-25      | Variable      | 4.35%                 | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO                         | Clear Channel Outdoor Holdings Inc                                               | CUSIP: 18453HAC0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1211000 | PA      | $1030234.03   | 0.18%             | 2028-04-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Transocean Inc                                   | Transocean Inc                                                                   | CUSIP: 893830BF5<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | KY        |    316000 | PA      | $297040.00    | 0.05%             | 2026-01-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| SS&C European Holdings Sarl                      | SS&C European Holdings Sarl 2018 Term Loan B4                                    | CUSIP: 78466DBE3<br>LEI: 529900POY8H7NPPNKK71 | Long             | LON              | CORP              | US        |     68048 | PA      | $67878.33     | 0.01%             | 2025-04-16      | Floating      | 6.32%                 | No            |                  2 | On Loan: No      |
| BOFA SECURITIES INC                              | RRP CLARIOS GLO                                                                  | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Short            | RA               | CORP              | US        |  -2625000 | PA      | $-2625000.00  | -0.46%            |  |  |  | No            |                  2 | On Loan: No      |
| Neuberger Berman CLO Ltd                         | Neuberger Berman Loan Advisers CLO 37 Ltd                                        | CUSIP: 64133GAV2<br>LEI: 5493006JG853WBZS5J73 | Long             | ABS-CBDO         | CORP              | KY        |    400000 | PA      | $383969.56    | 0.07%             | 2031-07-20      | Floating      | 6.61%                 | No            |                  2 | On Loan: No      |
| Countrywide Alternative Loan Trust               | Alternative Loan Trust 2007-OA2                                                  | CUSIP: 02149LAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1991012 | PA      | $1648616.00   | 0.29%             | 2047-03-25      | Floating      | 3.27%                 | No            |                  2 | On Loan: No      |
| TRANSALTA CORP                                   | TransAlta Corp                                                                   | CUSIP: 89346DAH0<br>LEI: GJZNVO2UY6DNFNIYH321 | Long             | DBT              | CORP              | CA        |    142000 | PA      | $146019.07    | 0.03%             | 2029-11-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                                   | Bombardier Inc                                                                   | CUSIP: 097751BZ3<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |    512000 | PA      | $511503.36    | 0.09%             | 2029-02-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                     | GS Mortgage Securities Corp Trust 2022-SHIP                                      | CUSIP: 36269CAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    600000 | PA      | $597079.20    | 0.10%             | 2036-08-15      | Floating      | 5.21%                 | No            |                  2 | On Loan: No      |
| Magenta Buyer LLC                                | Magenta Buyer LLC 2021 USD 1st Lien Term Loan                                    | CUSIP: 55910RAB9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    796646 | PA      | $694643.86    | 0.12%             | 2028-07-27      | Floating      | 9.58%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS LLC                          | RRP CRESCENT EN                                                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | Short            | RA               | CORP              | US        |   -626780 | PA      | $-626780.00   | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| ICAHN ENTERPRISES/FIN                            | Icahn Enterprises LP / Icahn Enterprises Finance Corp                            | CUSIP: 451102BZ9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    842000 | PA      | $783981.94    | 0.14%             | 2027-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| JP MORGAN SECURITIES LLC                         | RRP ORGANON + C                                                                  | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | Short            | RA               | CORP              | US        |   -792688 | PA      | $-792687.50   | -0.14%            |  |  |  | No            |                  2 | On Loan: No      |
| CANTOR FITZGERALD & CO                           | RRP FHLMC 30YR                                                                   | CUSIP: 000000000<br>LEI: 5493004J7H4GCPG6OB62 | Short            | RA               | CORP              | US        |  -1957671 | PA      | $-1957670.91  | -0.34%            |  |  |  | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                         | Hilcorp Energy I LP / Hilcorp Finance Co                                         | CUSIP: 431318AY0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     35000 | PA      | $32537.87     | 0.01%             | 2030-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CROCS, INC.                                      | Crocs, Inc. Term Loan B                                                          | CUSIP: 22704NAD4<br>LEI: 549300B0J6YCXD63OG72 | Long             | LON              | CORP              | US        |    326990 | PA      | $324638.92    | 0.06%             | 2029-02-20      | Floating      | 7.80%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                           | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    658000 | PA      | $608650.00    | 0.11%             | 2029-06-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| CLEARWAY ENERGY OP LLC                           | Clearway Energy Operating LLC                                                    | CUSIP: 18539UAE5<br>LEI: 549300Z3NFMM54NWBB87 | Long             | DBT              | CORP              | US        |    335000 | PA      | $276164.27    | 0.05%             | 2032-01-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| CONSOLIDATED COMMUNICATI                         | Consolidated Communications Inc                                                  | CUSIP: 20903XAF0<br>LEI: 549300WW675Y48HDVX34 | Long             | DBT              | CORP              | US        |    861000 | PA      | $701408.13    | 0.12%             | 2028-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP HOLDG                         | Cloud Software Group Holdings Inc                                                | CUSIP: 88632QAE3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3182000 | PA      | $2792488.52   | 0.49%             | 2029-03-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| PRIME SECSRVC BRW/FINANC                         | Prime Security Services Borrower LLC / Prime Finance Inc                         | CUSIP: 74166MAC0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    626000 | PA      | $613504.73    | 0.11%             | 2026-04-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                      | RRP FNMA 30YR F                                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |    -21669 | PA      | $-21668.79    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Long Beach Mortgage Loan Trust                   | Long Beach Mortgage Loan Trust 2006-7                                            | CUSIP: 54251TAD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5128789 | PA      | $2165288.89   | 0.38%             | 2036-08-25      | Floating      | 4.83%                 | No            |                  2 | On Loan: No      |
| Metinvest BV                                     | Metinvest BV                                                                     | CUSIP: 000000000<br>LEI: 635400TMCKVEU87EJ582 | Long             | DBT              | CORP              | NL        |    302000 | PA      | $159305.00    | 0.03%             | 2026-04-23      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| INGEVITY CORP                                    | Ingevity Corp                                                                    | CUSIP: 45688CAB3<br>LEI: 5493009UTFC4B5IMGF87 | Long             | DBT              | CORP              | US        |    105000 | PA      | $92031.28     | 0.02%             | 2028-11-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| AIB GROUP PLC                                    | AIB Group PLC                                                                    | CUSIP: 000000000<br>LEI: 635400AKJBGNS5WNQL34 | Long             | DBT              | CORP              | IE        |    200000 | PA      | $204927.83    | 0.04%             | 2024-10-09      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Ascend Learning, LLC                             | Ascend Learning, LLC 2021 2nd Lien Term Loan                                     | CUSIP: 04349HAM6<br>LEI: 549300T466HKRLVCD610 | Long             | LON              | CORP              | US        |    157000 | PA      | $135748.48    | 0.02%             | 2029-12-10      | Floating      | 10.32%                | No            |                  2 | On Loan: No      |
| PTC Inc                                          | PTC Inc                                                                          | CUSIP: 69370CAC4<br>LEI: 54930050SSMU8SKDJ030 | Long             | DBT              | CORP              | US        |    242000 | PA      | $225453.25    | 0.04%             | 2028-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MPLX LP                                          | MPLX LP                                                                          | CUSIP: 55336VBN9<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |    235000 | PA      | $228448.67    | 0.04%             | 2027-12-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| LEGENDS HOSPITALITY HOLD                         | Legends Hospitality Holding Co LLC / Legends Hospitality Co-Issuer Inc           | CUSIP: 52473NAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    114000 | PA      | $105044.16    | 0.02%             | 2026-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                       | Verus Securitization Trust 2022-7                                                | CUSIP: 92539NAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1947596 | PA      | $1939534.30   | 0.34%             | 2067-07-25      | Variable      | 5.15%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                           | US ULTRA BOND CBT MAR23                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |      -339 | NC      | $-2535428.41  | -0.44%            |  |  |  | No            |                  1 | On Loan: No      |
| BANCO DE SABADELL SA                             | Banco de Sabadell SA                                                             | CUSIP: 000000000<br>LEI: SI5RG2M0WQQLZCXKRM20 | Long             | DBT              | CORP              | ES        |    100000 | PA      | $108636.10    | 0.02%             | 2029-02-07      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| DISCOVER FINANCIAL SVS                           | Discover Financial Services                                                      | CUSIP: 254709AS7<br>LEI: Z1YLO2USPORE63VVUL20 | Long             | DBT              | CORP              | US        |    115000 | PA      | $122760.55    | 0.02%             | 2032-11-29      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust Inc                | Citigroup Mortgage Loan Trust 2006-FX1                                           | CUSIP: 17309YAG2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    343829 | PA      | $227169.25    | 0.04%             | 2036-10-25      | Variable      | 5.78%                 | No            |                  2 | On Loan: No      |
| CLYDESDALE ACQUISITION                           | Clydesdale Acquisition Holdings Inc                                              | CUSIP: 18972EAA3<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |    718000 | PA      | $705876.94    | 0.12%             | 2029-04-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                             | OneMain Finance Corp                                                             | CUSIP: 682691AA8<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    141000 | PA      | $112439.04    | 0.02%             | 2030-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Dryden Senior Loan Fund                          | Dryden 37 Senior Loan Fund                                                       | CUSIP: 26249MAN7<br>LEI: 254900I0IPNA482LDS44 | Long             | ABS-CBDO         | CORP              | KY        |    250000 | PA      | $248310.88    | 0.04%             | 2031-01-15      | Floating      | 5.89%                 | No            |                  2 | On Loan: No      |
| UTAH ACQUISITION SUB                             | Utah Acquisition Sub Inc                                                         | CUSIP: 62854AAN4<br>LEI: 549300A0CD4KNFGIIS89 | Long             | DBT              | CORP              | US        |    650000 | PA      | $619741.65    | 0.11%             | 2026-06-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                      | FSWP: USD 1.610000 28-MAR-2032                                                   | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |  10600000 | OU      | $1546540.54   | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| ING GROEP NV                                     | ING Groep NV                                                                     | CUSIP: 456837AY9<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |   1750000 | PA      | $1419950.00   | 0.25%             | 2027-05-16      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| ICAHN ENTERPRISES/FIN                            | Icahn Enterprises LP / Icahn Enterprises Finance Corp                            | CUSIP: 451102BT3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    534000 | PA      | $526793.67    | 0.09%             | 2026-05-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| LIFE TIME INC                                    | Life Time Inc                                                                    | CUSIP: 53190FAA3<br>LEI: 549300PALKE96VYH4X17 | Long             | DBT              | CORP              | US        |    329000 | PA      | $316175.58    | 0.06%             | 2026-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| QUALCOMM Inc                                     | QUALCOMM Inc                                                                     | CUSIP: 747525AJ2<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | DBT              | CORP              | US        |    400000 | PA      | $408723.38    | 0.07%             | 2035-05-20      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| SERVICE CORP INTL                                | Service Corp International/US                                                    | CUSIP: 817565CE2<br>LEI: 549300RKVM2ME20JHZ15 | Long             | DBT              | CORP              | US        |    107000 | PA      | $102463.64    | 0.02%             | 2029-06-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| SES SA                                           | SES SA                                                                           | CUSIP: 000000000<br>LEI: 5493008JPA4HYMH1HX51 | Long             | DBT              | CORP              | LU        |    100000 | PA      | $91404.34     | 0.02%             | 2026-05-27      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| Countrywide Alternative Loan Trust               | Alternative Loan Trust 2007-12T1                                                 | CUSIP: 02150LAE7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1637632 | PA      | $813815.29    | 0.14%             | 2037-06-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CROCS INC                                        | Crocs Inc                                                                        | CUSIP: 227046AB5<br>LEI: 549300B0J6YCXD63OG72 | Long             | DBT              | CORP              | US        |    191000 | PA      | $158841.25    | 0.03%             | 2031-08-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                    | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |         1 | NC      | $447.34       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| AMSTED INDUSTRIES                                | Amsted Industries Inc                                                            | CUSIP: 032177AH0<br>LEI: N2VLGYMEEBIU3PFSUY86 | Long             | DBT              | CORP              | US        |    185000 | PA      | $181805.05    | 0.03%             | 2027-07-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| VICI PROPERTIES / NOTE                           | VICI Properties LP / VICI Note Co Inc                                            | CUSIP: 92564RAK1<br>LEI: N/A                  | Long             | DBT              |  | US        |    128000 | PA      | $119588.33    | 0.02%             | 2028-01-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                            | Level 3 Financing Inc                                                            | CUSIP: 527298BQ5<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    470000 | PA      | $381132.40    | 0.07%             | 2029-11-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| UNIQUE PUB FINANCE CO                            | Unique Pub Finance Co PLC/The                                                    | CUSIP: 000000000<br>LEI: 213800FOMWLKHQTI5562 | Long             | ABS-O            | CORP              | GB        |     50000 | PA      | $63539.88     | 0.01%             | 2032-03-30      | Fixed         | 6.46%                 | No            |                  2 | On Loan: No      |
| Intercontinental Exchange, Inc.                  | SWAP/CDSWAP/ICE: (CDX.NA.HY.39.V1)                                               | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              |  | US        |   7170000 | OU      | $-240716.60   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                      | RRP FNMA 40YR R                                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |  -6810377 | PA      | $-6810376.76  | -1.19%            |  |  |  | No            |                  2 | On Loan: No      |
| The Federal Republic of Nigeria                  | Nigeria Government International Bond                                            | CUSIP: 000000000<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |    208000 | PA      | $157040.00    | 0.03%             | 2032-02-16      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| RIZAL COMMERCIAL BANKING                         | Rizal Commercial Banking Corp                                                    | CUSIP: 000000000<br>LEI: CIKZWI6KV077KV2E2J69 | Long             | DBT              | CORP              | PH        |    200000 | PA      | $178750.00    | 0.03%             | 2025-08-27      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| NGL ENRGY OP/FIN CORP                            | NGL Energy Operating LLC / NGL Energy Finance Corp                               | CUSIP: 62922LAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    470000 | PA      | $446339.91    | 0.08%             | 2026-02-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Republic of Panama                               | Panama Government International Bond                                             | CUSIP: 698299BF0<br>LEI: 549300SHS4T08CL0LP14 | Long             | DBT              | NUSS              | PA        |    742000 | PA      | $707821.63    | 0.12%             | 2028-03-17      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK SA | RRP PERU (REPUB                                                                  | CUSIP: 000000000<br>LEI: 1VUV7VQFKUOQSJ21A208 | Short            | RA               | CORP              | US        |   -474370 | PA      | $-474370.00   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae                                       | Fannie Mae Pool                                                                  | CUSIP: 3140X5N82<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    253214 | PA      | $251251.83    | 0.04%             | 2049-04-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ENCOMPASS HEALTH CORP                            | Encompass Health Corp                                                            | CUSIP: 29261AAB6<br>LEI: 549300FVRPM9DRQZRG64 | Long             | DBT              | CORP              | US        |    603000 | PA      | $552745.98    | 0.10%             | 2030-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| HERENS MIDCO SARL                                | Herens Midco Sarl                                                                | CUSIP: 000000000<br>LEI: 222100BJH5XPZD1JHF79 | Long             | DBT              | CORP              | LU        |    100000 | PA      | $73790.33     | 0.01%             | 2029-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                        | Uniform Mortgage-Backed Security, TBA                                            | CUSIP: 01F042632<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   7400000 | PA      | $7305765.59   | 1.28%             | 2053-03-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| TELECOM ITALIA CAPITAL                           | Telecom Italia Capital SA                                                        | CUSIP: 87927VAM0<br>LEI: 549300777DJZOR5C4L39 | Long             | DBT              | CORP              | LU        |    569000 | PA      | $456557.07    | 0.08%             | 2034-09-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FedEx Corp                                       | FedEx Corp                                                                       | CUSIP: 31428XBA3<br>LEI: 549300E707U7WNPZN687 | Long             | DBT              | CORP              | US        |    500000 | PA      | $450511.15    | 0.08%             | 2035-02-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| CHOBANI LLC/FINANCE CORP                         | Chobani LLC / Chobani Finance Corp Inc                                           | CUSIP: 17027NAB8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    846000 | PA      | $771975.00    | 0.14%             | 2028-11-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Quorum Health Corporation                        | Quorum Health Corporation 2020 Term Loan                                         | CUSIP: 74909HAE9<br>LEI: 549300PO3E4YREFT1I57 | Long             | LON              | CORP              | US        |    307155 | PA      | $210656.09    | 0.04%             | 2025-04-29      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP/FINANCE CORP                           | Sunoco LP / Sunoco Finance Corp                                                  | CUSIP: 86765LAQ0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     75000 | PA      | $74957.25     | 0.01%             | 2027-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| PATTERN ENERGY OP LP/PAT                         | Pattern Energy Operations LP / Pattern Energy Operations Inc                     | CUSIP: 70339PAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    471000 | PA      | $432142.50    | 0.08%             | 2028-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GO DADDY OPCO/FINCO                              | Go Daddy Operating Co LLC / GD Finance Co Inc                                    | CUSIP: 38016LAC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    261000 | PA      | $225712.80    | 0.04%             | 2029-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Voya Financial Inc                               | Voya Financial Inc                                                               | CUSIP: 45685EAG1<br>LEI: 549300T065Z4KJ686G75 | Long             | DBT              | CORP              | US        |   1090000 | PA      | $1085095.00   | 0.19%             | 2053-05-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| AMC Networks Inc                                 | AMC Networks Inc                                                                 | CUSIP: 00164VAE3<br>LEI: 549300VGG9K75226LR46 | Long             | DBT              | CORP              | US        |    283000 | PA      | $241965.00    | 0.04%             | 2025-08-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Bombardier Inc                                   | Bombardier Inc                                                                   | CUSIP: 097751BM2<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |     50000 | PA      | $50062.50     | 0.01%             | 2025-03-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CHART INDUSTRIES INC                             | Chart Industries Inc                                                             | CUSIP: 000000000<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | DBT              | CORP              | US        |    782000 | PA      | $799595.00    | 0.14%             | 2030-01-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                          | Goldman Sachs Group Inc/The                                                      | CUSIP: 38144GAB7<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    900000 | PA      | $863600.88    | 0.15%             | 2025-02-10      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| MAJORDRIVE HOLDINGS IV L                         | MajorDrive Holdings IV LLC                                                       | CUSIP: 56085RAA8<br>LEI: 25490044R1FR5N8FIT62 | Long             | DBT              | CORP              | US        |    228000 | PA      | $180154.20    | 0.03%             | 2029-06-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| UPC BROADBAND FINCO BV                           | UPC Broadband Finco BV                                                           | CUSIP: 90320BAA7<br>LEI: 213800MNFBDEQRS6HZ22 | Long             | DBT              | CORP              | NL        |    574000 | PA      | $504987.98    | 0.09%             | 2031-07-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| CANTOR FITZGERALD & CO                           | RRP FNMA 30YR F                                                                  | CUSIP: 000000000<br>LEI: 5493004J7H4GCPG6OB62 | Short            | RA               | CORP              | US        |  -2962645 | PA      | $-2962644.54  | -0.52%            |  |  |  | No            |                  2 | On Loan: No      |
| WR GRACE HOLDING LLC                             | WR Grace Holdings LLC                                                            | CUSIP: 92943GAD3<br>LEI: 549300WNOVFRGYOAEB12 | Long             | DBT              | CORP              | US        |    177000 | PA      | $164220.60    | 0.03%             | 2027-06-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| TEREX CORP                                       | Terex Corp                                                                       | CUSIP: 880779BA0<br>LEI: YAWJZJYEQ7M1SYMOS462 | Long             | DBT              | CORP              | US        |    421000 | PA      | $393108.75    | 0.07%             | 2029-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                      | RRP CHARLES SCH                                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Short            | RA               | CORP              | US        |   -753750 | PA      | $-753750.00   | -0.13%            |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-03-01

**Name of Applicant:** BlackRock Multi-Sector Income Trust

**Signature:** Chuck Pulsfort

**Name of Signer:** Chuck Pulsfort

**Title:** Assistant Treasurer