# EDGAR Filing Document

**Accession Number:** 0001648403
**File Stem:** 0000940400-25-015032
**Filing Date:** 2025-12
**Character Count:** 162354
**Document Hash:** 36695df1a9e18da3a52cbb5503540d1b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-015032.hdr.sgml**: 20251230

**ACCESSION NUMBER**: 0000940400-25-015032

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251230

**DATE AS OF CHANGE**: 20251230

**PERIOD START**: 20260731

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Virtus ETF Trust II
- **CENTRAL INDEX KEY:** 0001648403

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0731

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23078
- **FILM NUMBER:** 251611876

**BUSINESS ADDRESS:**
- **STREET 1:** 1301 AVENUE OF THE AMERICAS
- **STREET 2:** 14TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10019
- **BUSINESS PHONE:** 212-593-4383

**MAIL ADDRESS:**
- **STREET 1:** 1301 AVENUE OF THE AMERICAS
- **STREET 2:** 14TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10019

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Virtus EFT Trust II
- **DATE OF NAME CHANGE:** 20150717

## Series and Classes Contracts Data

### Virtus Seix Senior Loan ETF (Series ID: S000064735)

| Class ID   | Class Name                  | Ticker Symbol   |
|:---|:---|:---|
| C000209678 | Virtus Seix Senior Loan ETF | SEIX            |

## Nport-Ex

Schedule of Investments - Virtus Seix Senior Loan ETF

October 31, 2025 (unaudited)

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal** | **Value** |
| **TERM LOANS – 91.5%** | **TERM LOANS – 91.5%** | |
| **Basic Materials – 7.0%** |  |  |
| Ahlstrom Holding 3 Oy, 8.51%, (3-Month SOFR + 4.51%), 05/22/30<sup>(1)</sup> | $304238 | $306282 |
| Arc Falcon I, Inc., 0.00%, (SOFR + 0.00%), 09/30/28<sup>(2)</sup> | 1500000 | 1501148 |
| Arc Falcon I, Inc., 7.56%, (1-Month SOFR + 3.60%), 09/30/28<sup>(1)</sup> | 1000124 | 1000889 |
| Arc Falcon I, Inc., 11.06%, (1-Month SOFR + 7.10%), 09/30/29<sup>(1)</sup> | 1380000 | 1378558 |
| Bakelite US Holdco, Inc., 7.75%, (3-Month SOFR + 3.75%), 12/23/31<sup>(1)</sup> | 1751763 | 1693376 |
| Chemours (The), Co., 7.46%, (1-Month SOFR + 3.50%), 10/15/32<sup>(1)</sup> | 1290545 | 1272477 |
| Consolidated Energy Finance SA, 8.20%, (6-Month SOFR + 4.50%), 11/15/30<sup>(1)</sup> | 621475 | 524835 |
| Covia Holdings LLC, 6.71%, (3-Month SOFR + 2.75%), 02/26/32<sup>(1)</sup> | 638400 | 640695 |
| Domtar Corp., 9.58%, (1-Month SOFR + 5.61%), 11/30/28<sup>(1)(3)</sup> | 188605 | 144283 |
| Hexion Holdings Corp., 8.03%, (1-Month SOFR + 4.00%), 03/15/29<sup>(1)</sup> | 197709 | 194390 |
| Hexion Holdings Corp., 11.50%, (1-Month SOFR + 7.54%), 03/15/30<sup>(1)</sup> | 77647 | 76240 |
| INEOS Styrolution US Holding LLC, 6.06%, (1-Month SOFR + 2.10%), 01/29/27<sup>(1)</sup> | 1931945 | 1857884 |
| INEOS US Finance LLC, 7.21%, (1-Month SOFR + 3.25%), 02/18/30<sup>(1)</sup> | 1819125 | 1567013 |
| INEOS US Finance LLC, 6.96%, (1-Month SOFR + 3.00%), 02/07/31<sup>(1)</sup> | 2193383 | 1866021 |
| INEOS US Petrochem LLC, 8.21%, (1-Month SOFR + 4.25%), 10/07/31<sup>(1)</sup> | 1099475 | 888238 |
| Magnera Corp., 8.45%, (3-Month SOFR + 4.25%), 11/04/31<sup>(1)</sup> | 1629785 | 1545036 |
| Manchester Acquisition Sub LLC, 10.07%, (3-Month SOFR + 5.90%), 12/01/26<sup>(1)</sup> | 724303 | 704385 |
| Mativ Holdings, Inc., 7.83%, (1-Month SOFR + 3.86%), 04/20/28<sup>(1)</sup> | 762389 | 758577 |
| Natgasoline LLC, 9.50%, (3-Month SOFR + 5.50%), 03/29/30<sup>(1)</sup> | 913438 | 921430 |
| Qnity Electronics, Inc., 0.00%, (SOFR + 0.00%), 08/12/32<sup>(2)</sup> | 845000 | 846589 |
| Spa US HoldCo, Inc., 0.00%, (SOFR + 0.00%), 02/04/28<sup>(2)</sup> | 1240648 | 1246591 |
| Spa US HoldCo, Inc., 8.26%, (3-Month SOFR + 4.26%), 02/04/28<sup>(1)</sup> | 79800 | 80182 |
| Total Basic Materials |  | 21015119 |
| **Communications – 16.2%** |  |  |
| 2Degrees Group Ltd., 7.44%, (3-Month SOFR + 3.25%), 05/11/29<sup>(1)</sup> | 491965 | 494425 |
| Altice Financing SA, 8.90%, (3-Month SOFR + 5.00%), 10/31/27<sup>(1)(4)</sup> | 2650701 | 2106207 |
| Cable One, Inc., 6.08%, (1-Month SOFR + 2.11%), 05/03/28<sup>(1)</sup> | 375539 | 366856 |
| Cengage Learning, Inc., 7.48%, (1-Month SOFR + 3.50%), 03/22/31<sup>(1)</sup> | 256598 | 253632 |
| Cengage Learning, Inc., 7.70%, (3-Month SOFR + 3.50%), 03/22/31<sup>(1)</sup> | 438142 | 433077 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal** | **Value** |
| **TERM LOANS (continued)** |  |  |
| **Communications (continued)** |  |  |
| Charter Communications Operating LLC, 6.24%, (3-Month SOFR + 2.25%), 12/15/31<sup>(1)</sup> | $2193425 | $2192306 |
| Cogeco Communications USA II LP, 7.21%, (1-Month SOFR + 3.25%), 09/18/30<sup>(1)</sup> | 1177500 | 1162192 |
| Connect Finco SARL, 8.46%, (1-Month SOFR + 4.50%), 09/27/29<sup>(1)</sup> | 2085360 | 2079427 |
| Coral-US Co-Borrower LLC, 7.15%, (3-Month SOFR + 3.25%), 01/31/32<sup>(1)</sup> | 2070000 | 2009628 |
| Crown Subsea Communications Holding, Inc., 7.46%, (1-Month SOFR + 3.50%), 01/30/31<sup>(1)</sup> | 891000 | 897682 |
| Digital Media Solutions LLC, 0.00%, (1-Month SOFR + 0.00%), 05/25/26<sup>(1)(3)</sup> | 37454 | 0 |
| Digital Media Solutions LLC, 15.43%, (3-Month SOFR + 0.00%), 05/25/26<sup>(1)(3)(4)</sup> | 416979 | 0 |
| Directv Financing LLC, 0.00%, (SOFR + 0.00%), 08/02/29<sup>(2)</sup> | 331156 | 332123 |
| Directv Financing LLC, 9.35%, (3-Month SOFR + 5.51%), 08/02/29<sup>(1)</sup> | 925824 | 928528 |
| Directv Financing LLC, 9.34%, (3-Month SOFR + 5.50%), 02/17/31<sup>(1)</sup> | 477266 | 472663 |
| DMS Purchaser LLC, 11.46%, (1-Month SOFR + 7.50%), 09/23/32<sup>(1)(3)</sup> | 176434 | 177863 |
| Ensono, Inc., 8.08%, (1-Month SOFR + 4.11%), 05/26/28<sup>(1)</sup> | 1150170 | 1152166 |
| Gray Media, Inc., 7.25%, (1-Month SOFR + 3.00%), 12/01/28<sup>(1)</sup> | 579749 | 581395 |
| Level 3 Financing, Inc., 7.21%, (1-Month SOFR + 3.25%), 03/29/32<sup>(1)</sup> | 2210000 | 2210000 |
| Lumen Technologies, Inc., 9.96%, (1-Month SOFR + 6.00%), 06/01/28<sup>(1)</sup> | 2961179 | 3011149 |
| Lumen Technologies, Inc., 6.43%, (1-Month SOFR + 2.46%), 04/15/29<sup>(1)</sup> | 1024763 | 1020925 |
| Lumen Technologies, Inc., 0.00%, (SOFR + 0.00%), 04/15/30<sup>(2)</sup> | 750000 | 747259 |
| Lumen Technologies, Inc., 6.43%, (1-Month SOFR + 2.46%), 04/15/30<sup>(1)</sup> | 540771 | 538794 |
| Magnite, Inc., 6.96%, (1-Month SOFR + 3.00%), 02/06/31<sup>(1)</sup> | 1415340 | 1417400 |
| MH Sub I LLC, 8.25%, (3-Month SOFR + 4.25%), 05/03/28<sup>(1)</sup> | 229337 | 209157 |
| Neptune Bidco US, Inc., 8.76%, (3-Month SOFR + 4.85%), 10/11/28<sup>(1)</sup> | 226442 | 219392 |
| Neptune Bidco US, Inc., 9.01%, (3-Month SOFR + 5.10%), 04/11/29<sup>(1)</sup> | 2804743 | 2716043 |
| Neptune Bidco US, Inc., 13.76%, (3-Month SOFR + 9.85%), 10/11/29<sup>(1)</sup> | 834730 | 834730 |
| Nexstar Media, Inc., 6.46%, (1-Month SOFR + 2.50%), 06/28/32<sup>(1)</sup> | 743138 | 744706 |
| Numericable US LLC, 10.86%, (3-Month SOFR + 6.88%), 05/30/31<sup>(1)</sup> | 401468 | 401111 |
| Summer BC Holdco B SARL, 9.26%, (3-Month SOFR + 5.26%), 02/15/29<sup>(1)</sup> | 1396215 | 1328150 |
| Team Blue Finco SARL, 7.50%, (3-Month SOFR + 3.25%), 07/12/32<sup>(1)</sup> | 1366575 | 1368926 |

---

Schedule of Investments - Virtus Seix Senior Loan ETF (continued)

October 31, 2025 (unaudited)

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal** | **Value** |
| **TERM LOANS (continued)** |  |  |
| **Communications (continued)** |  |  |
| Telenet Financing USD LLC, 6.15%, (1-Month SOFR + 2.11%), 04/30/28<sup>(1)</sup> | $1000000 | $997055 |
| Thryv, Inc., 10.71%, (1-Month SOFR + 6.75%), 05/01/29<sup>(1)</sup> | 94500 | 94914 |
| TripAdvisor, Inc., 6.71%, (1-Month SOFR + 2.75%), 07/08/31<sup>(1)</sup> | 1372949 | 1331760 |
| Univision Communications, Inc., 7.58%, (1-Month SOFR + 3.50%), 01/31/29<sup>(1)</sup> | 1956616 | 1942186 |
| Venga Finance Sarl, 8.21%, (3-Month SOFR + 4.01%), 06/28/29<sup>(1)</sup> | 1960855 | 1963797 |
| Viasat, Inc., 8.65%, (1-Month SOFR + 4.61%), 05/30/30<sup>(1)</sup> | 598473 | 593237 |
| Virgin Media Bristol LLC, 0.00%, (SOFR + 0.00%), 01/31/28<sup>(2)</sup> | 14810 | 14821 |
| Virgin Media Bristol LLC, 6.65%, (1-Month SOFR + 2.61%), 01/31/28<sup>(1)</sup> | 26784 | 26805 |
| Virgin Media Bristol LLC, 7.40%, (1-Month SOFR + 3.36%), 01/31/29<sup>(1)</sup> | 1500000 | 1499377 |
| Virgin Media Bristol LLC, 7.05%, (6-Month SOFR + 3.28%), 03/31/31<sup>(1)</sup> | 1900000 | 1863358 |
| Wasserman Media Group LLC, 6.99%, (1-Month SOFR + 3.00%), 06/23/32<sup>(1)</sup> | 670000 | 674187 |
| Zacapa SARL, 7.75%, (3-Month SOFR + 3.75%), 03/22/29<sup>(1)</sup> | 5021226 | 5040683 |
| Total Communications |  | 48450092 |
| **Consumer, Cyclical – 10.9%** |  |  |
| ABG Intermediate Holdings 2 LLC, 6.21%, (1-Month SOFR + 2.25%), 12/21/28<sup>(1)</sup> | 1646599 | 1647784 |
| ABG Intermediate Holdings 2 LLC, 6.21%, (1-Month SOFR + 2.25%), 02/13/32<sup>(1)</sup> | 223875 | 223735 |
| Allwyn Entertainment Financing US LLC, 5.91%, (3-Month SOFR + 2.00%), 06/02/31<sup>(1)</sup> | 1027879 | 1016315 |
| AP Core Holdings II LLC, 9.58%, (1-Month SOFR + 5.61%), 09/01/27<sup>(1)</sup> | 2065000 | 2024216 |
| AP Core Holdings II LLC, 9.58%, (1-Month SOFR + 5.61%), 09/01/27<sup>(1)</sup> | 142699 | 140247 |
| Autokiniton US Holdings, Inc., 8.08%, (1-Month SOFR + 4.11%), 04/06/28<sup>(1)</sup> | 1720547 | 1658177 |
| Beach Acquisition Bidco LLC, 7.31%, (3-Month SOFR + 3.25%), 09/12/32<sup>(1)</sup> | 625000 | 629166 |
| Boots Group Finco LP, 7.71%, (3-Month SOFR + 3.50%), 08/30/32<sup>(1)</sup> | 845000 | 849753 |
| CWGS Group LLC, 6.58%, (1-Month SOFR + 2.61%), 06/03/28<sup>(1)</sup> | 904574 | 884484 |
| EOC Borrower LLC, 6.96%, (1-Month SOFR + 3.00%), 03/24/32<sup>(1)</sup> | 1411463 | 1420580 |
| GBT US III LLC, 6.36%, (3-Month SOFR + 2.50%), 07/25/31<sup>(1)</sup> | 754300 | 756401 |
| Golden State Foods LLC, 8.00%, (3-Month SOFR + 4.00%), 12/04/31<sup>(1)</sup> | 990025 | 995010 |
| Kingpin Intermediate Holdings LLC, 7.21%, (1-Month SOFR + 3.25%), 09/22/32<sup>(1)</sup> | 895000 | 871135 |
| LC Ahab US Bidco LLC, 6.96%, (1-Month SOFR + 3.00%), 05/01/31<sup>(1)</sup> | 992481 | 996203 |
| LCI Industries, 6.21%, (1-Month SOFR + 2.25%), 03/25/32<sup>(1)</sup> | 800980 | 805986 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal** | **Value** |
| **TERM LOANS (continued)** |  |  |
| **Consumer, Cyclical (continued)** |  |  |
| Light & Wonder International, Inc., 6.29%, (1-Month SOFR + 2.25%), 04/14/29<sup>(1)</sup> | $495000 | $497166 |
| Oravel Stays Singapore Pte Ltd., 12.00%, (3-Month SOFR + 8.00%), 12/20/29<sup>(1)</sup> | 2000773 | 2075802 |
| Peer Holding III BV, 6.50%, (3-Month SOFR + 2.50%), 07/01/31<sup>(1)</sup> | 679863 | 683517 |
| Peer USA LLC, 6.19%, (3-Month SOFR + 2.25%), 09/29/32<sup>(1)</sup> | 1100000 | 1102062 |
| Restoration Hardware, Inc., 6.58%, (1-Month SOFR + 2.61%), 10/20/28<sup>(1)</sup> | 308833 | 300663 |
| Restoration Hardware, Inc., 7.31%, (1-Month SOFR + 3.35%), 10/20/28<sup>(1)</sup> | 1018370 | 996943 |
| Sabre GLBL, Inc., 7.58%, (1-Month SOFR + 3.61%), 12/17/27<sup>(1)</sup> | 773372 | 737604 |
| Sabre GLBL, Inc., 8.31%, (1-Month SOFR + 4.35%), 06/30/28<sup>(1)</sup> | 190995 | 178182 |
| Sabre GLBL, Inc., 9.06%, (1-Month SOFR + 5.10%), 06/30/28<sup>(1)</sup> | 795786 | 739751 |
| Sabre GLBL, Inc., 10.06%, (1-Month SOFR + 6.10%), 11/15/29<sup>(1)</sup> | 291668 | 271251 |
| Topgolf Callaway Brands Corp., 6.96%, (1-Month SOFR + 3.00%), 03/15/30<sup>(1)</sup> | 1188644 | 1181755 |
| TRQ Sales LLC, 0.00%, (SOFR + 0.00%), 08/13/32<sup>(2)</sup> | 1310000 | 1295806 |
| Varsity Brands, Inc., 7.03%, (3-Month SOFR + 3.00%), 08/26/31<sup>(1)</sup> | 997500 | 1000991 |
| Victra Holdings LLC, 7.75%, (3-Month SOFR + 3.75%), 03/30/29<sup>(1)</sup> | 1827961 | 1835392 |
| Voyager Parent LLC, 8.75%, (3-Month SOFR + 4.75%), 07/01/32<sup>(1)</sup> | 1170000 | 1171538 |
| Weber-Stephen Products LLC, 7.74%, (3-Month SOFR + 3.75%), 10/01/32<sup>(1)</sup> | 1005000 | 1003538 |
| WH Borrower LLC, 8.95%, (3-Month SOFR + 4.75%), 02/20/32<sup>(1)</sup> | 2613450 | 2619984 |
| Total Consumer, Cyclical |  | 32611137 |
| **Consumer, Non-cyclical – 12.1%** |  |  |
| A-AG US GSI Bidco, Inc., 9.00%, (3-Month SOFR + 5.00%), 10/31/31<sup>(1)</sup> | 1134300 | 1128628 |
| AHP Health Partners, Inc., 6.21%, (1-Month SOFR + 2.25%), 09/20/32<sup>(1)</sup> | 855000 | 859412 |
| American Public Education, Inc., 9.58%, (1-Month SOFR + 5.61%), 09/01/27<sup>(1)</sup> | 720000 | 714600 |
| Aspire Bakeries Holdings LLC, 7.47%, (1-Month SOFR + 3.50%), 12/23/30<sup>(1)</sup> | 595492 | 599962 |
| Camelot US Acquisition LLC, 6.71%, (1-Month SOFR + 2.75%), 01/31/31<sup>(1)</sup> | 1020000 | 1003109 |
| Catawba Nation Gaming Authority, 8.71%, (1-Month SOFR + 4.75%), 03/28/32<sup>(1)</sup> | 1035000 | 1059260 |
| First Advantage Holdings LLC, 0.00%, (SOFR + 0.00%), 10/31/31<sup>(2)</sup> | 660000 | 643708 |
| Froneri US, Inc., 6.37%, (3-Month SOFR + 2.50%), 08/02/32<sup>(1)</sup> | 930000 | 930632 |
| Fugue Finance LLC, 6.95%, (3-Month SOFR + 2.75%), 01/09/32<sup>(1)</sup> | 807948 | 811043 |

---

Schedule of Investments - Virtus Seix Senior Loan ETF (continued)

October 31, 2025 (unaudited)

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal** | **Value** |
| **TERM LOANS (continued)** |  |  |
| **Consumer, Non-cyclical (continued)** |  |  |
| ION Platform Finance US, Inc., 0.00%, (SOFR + 0.00%), 09/30/32<sup>(2)</sup> | $385000 | $377781 |
| LifePoint Health, Inc., 7.65%, (3-Month SOFR + 3.75%), 05/16/31<sup>(1)</sup> | 2672307 | 2677438 |
| LifePoint Health, Inc., 7.66%, (3-Month SOFR + 3.50%), 05/16/31<sup>(1)</sup> | 522368 | 522818 |
| LifePoint Health, Inc., 7.78%, (1-Month SOFR + 3.75%), 05/16/31<sup>(1)</sup> | 6748 | 6761 |
| Medline Borrower LP, 5.96%, (1-Month SOFR + 2.00%), 10/23/30<sup>(1)</sup> | 1769144 | 1771851 |
| NorthAB LLC, 6.50%, (3-Month SOFR + 2.50%), 11/24/28<sup>(1)</sup> | 1024857 | 1003996 |
| Nourish Buyer I, Inc., 8.55%, (1-Month SOFR + 4.50%), 07/08/32<sup>(1)</sup> | 525000 | 526312 |
| Opal US LLC, 0.00%, (6-Month SOFR + 0.00%), 04/28/32<sup>(1)</sup> | 1705000 | 1714326 |
| Organon & Co., 6.24%, (1-Month SOFR + 2.25%), 05/19/31<sup>(1)</sup> | 1076927 | 977645 |
| Primary Products Finance LLC, 7.19%, (3-Month SOFR + 3.25%), 04/01/29<sup>(1)</sup> | 979636 | 947063 |
| Primo Brands Corp., 6.25%, (3-Month SOFR + 2.25%), 03/31/28<sup>(1)</sup> | 691478 | 694088 |
| Priority Holdings LLC, 7.71%, (1-Month SOFR + 3.75%), 07/30/32<sup>(1)</sup> | 1840013 | 1843233 |
| Prometric Holdings, Inc., 7.71%, (1-Month SOFR + 3.75%), 06/25/32<sup>(1)</sup> | 670000 | 674187 |
| Quirch Foods Holdings LLC, 8.86%, (1-Month SOFR + 4.86%), 10/27/27<sup>(1)</sup> | 1589227 | 1549250 |
| Savor Acquisition, Inc., 0.00%, (3-Month SOFR + 0.00%), 02/19/32<sup>(1)(5)</sup> | 68534 | 68906 |
| Savor Acquisition, Inc., 6.84%, (3-Month SOFR + 3.00%), 02/19/32<sup>(1)</sup> | 724649 | 728573 |
| Sazerac Co., Inc., 6.58%, (1-Month SOFR + 2.50%), 07/09/32<sup>(1)</sup> | 730000 | 734789 |
| Team Health Holdings, Inc., 8.34%, (3-Month SOFR + 4.50%), 06/30/28<sup>(1)</sup> | 1182038 | 1185649 |
| Team Public Choices LLC, 0.00%, (SOFR + 0.00%), 12/20/27<sup>(2)</sup> | 300000 | 299686 |
| Team Public Choices LLC, 8.99%, (3-Month SOFR + 5.15%), 12/20/27<sup>(1)</sup> | 863308 | 862859 |
| Team Public Choices LLC, 9.09%, (3-Month SOFR + 5.25%), 12/20/27<sup>(1)</sup> | 481363 | 480859 |
| Transnetwork LLC, 8.75%, (3-Month SOFR + 4.75%), 12/29/30<sup>(1)</sup> | 994937 | 987475 |
| TTF Lower Intermediate LLC, 7.79%, (6-Month SOFR + 3.75%), 07/18/31<sup>(1)</sup> | 1276747 | 1179395 |
| University Support Services LLC, 6.71%, (1-Month SOFR + 2.75%), 02/10/29<sup>(1)</sup> | 2416014 | 2371620 |
| Veritiv Operating Co., 8.00%, (3-Month SOFR + 4.00%), 11/30/30<sup>(1)</sup> | 975944 | 939878 |
| Vestis Corp., 6.45%, (3-Month SOFR + 2.25%), 02/22/31<sup>(1)</sup> | 1626635 | 1549370 |
| VM Consolidated, Inc., 5.96%, (1-Month SOFR + 2.00%), 10/01/32<sup>(1)</sup> | 764313 | 768612 |
| Wash Bidco, Inc., 7.21%, (1-Month SOFR + 3.25%), 09/10/32<sup>(1)</sup> | 840000 | 845384 |
| Total Consumer, Non-cyclical |  | 36040158 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal** | **Value** |
| **TERM LOANS (continued)** |  |  |
| **Diversified – 0.8%** |  |  |
| First Eagle Holdings, Inc., (1-Month SOFR + 0.00%), 08/16/32<sup>(1)(5)</sup> | $357292 | $357169 |
| First Eagle Holdings, Inc., 7.71%, (3-Month SOFR + 3.50%), 08/16/32<sup>(1)</sup> | 2092708 | 2091986 |
| Total Diversified |  | 2449155 |
| **Energy – 5.1%** |  |  |
| Bayonne Energy Center LLC, 6.99%, (3-Month SOFR + 3.00%), 09/22/32<sup>(1)</sup> | 880000 | 883577 |
| Colossus Acquireco LLC, 6.01%, (SOFR + 1.75%), 07/30/32<sup>(1)</sup> | 1000000 | 996785 |
| CPPIB OVM Member US LLC, 6.50%, (3-Month SOFR + 2.50%), 08/20/31<sup>(1)</sup> | 897020 | 899985 |
| Deep Blue Operating I LLC, 6.88%, (1-Month SOFR + 2.75%), 10/01/32<sup>(1)</sup> | 690000 | 693022 |
| EMG Utica Midstream Holdings LLC, 8.00%, (3-Month SOFR + 4.00%), 04/01/30<sup>(1)</sup> | 881189 | 888899 |
| EPIC Crude Services LP, 6.34%, (3-Month SOFR + 2.50%), 10/15/31<sup>(1)</sup> | 928506 | 934063 |
| FR BR Holdings LLC, 8.19%, (3-Month SOFR + 4.25%), 10/09/30<sup>(1)</sup> | 710000 | 708225 |
| Goodnight Water Solutions Holdings LLC, 7.96%, (1-Month SOFR + 4.00%), 06/04/29<sup>(1)</sup> | 2412349 | 2391253 |
| NGL Energy Operating LLC, 7.46%, (1-Month SOFR + 3.50%), 02/03/31<sup>(1)</sup> | 776338 | 777793 |
| Oxbow Carbon LLC, 7.46%, (1-Month SOFR + 3.50%), 05/10/30<sup>(1)</sup> | 1921622 | 1921632 |
| Par Petroleum LLC, 7.69%, (3-Month SOFR + 3.75%), 02/28/30<sup>(1)</sup> | 1341568 | 1345761 |
| Rockpoint Gas Storage Partners LP, 6.34%, (SOFR + 2.50%), 09/18/31<sup>(1)</sup> | 1057013 | 1061637 |
| Rockpoint Gas Storage Partners LP, 6.34%, (3-Month SOFR + 2.50%), 09/18/31<sup>(1)</sup> | 704675 | 707758 |
| West Deptford Energy Holdings LLC, 7.96%, (1-Month SOFR + 4.00%), 07/23/32<sup>(1)</sup> | 847875 | 843636 |
| Total Energy |  | 15054026 |
| **Financials – 12.7%** |  |  |
| Apex Group Treasury LLC, 7.75%, (3-Month SOFR + 3.50%), 02/27/32<sup>(1)</sup> | 1159574 | 1087825 |
| Apollo Commercial Real Estate Finance, Inc., 7.28%, (1-Month SOFR + 3.25%), 06/13/30<sup>(1)</sup> | 1187025 | 1193334 |
| Asurion LLC, 9.33%, (1-Month SOFR + 5.36%), 01/20/29<sup>(1)</sup> | 2015000 | 1926703 |
| Asurion LLC, 8.21%, (1-Month SOFR + 4.25%), 09/19/30<sup>(1)</sup> | 3925306 | 3916107 |
| Blackstone Mortgage Trust, Inc., 6.46%, (1-Month SOFR + 2.50%), 05/09/29<sup>(1)</sup> | 200258 | 200759 |
| Blackstone Mortgage Trust, Inc., 6.96%, (1-Month SOFR + 3.00%), 12/10/30<sup>(1)</sup> | 766155 | 770304 |
| Brookfield Properties Retail Holding LLC, 7.46%, (1-Month SOFR + 3.50%), 05/28/30<sup>(1)</sup> | 882788 | 887753 |
| CFC USA 2025 LLC, 0.00%, (SOFR + 0.00%), 07/01/32<sup>(2)</sup> | 870000 | 852600 |

---

Schedule of Investments - Virtus Seix Senior Loan ETF (continued)

October 31, 2025 (unaudited)

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal** | **Value** |
| **TERM LOANS (continued)** |  |  |
| **Financials (continued)** |  |  |
| DRW Holdings LLC, 7.50%, (3-Month SOFR + 3.50%), 06/26/31<sup>(1)</sup> | $1965150 | $1930760 |
| EIG Management Co. LLC, 8.98%, (1-Month SOFR + 5.00%), 05/17/29<sup>(1)</sup> | 424625 | 424625 |
| FinCo I LLC, 5.71%, (1-Month SOFR + 1.75%), 06/27/29<sup>(1)</sup> | 786566 | 786649 |
| FNZ USA FinCo LLC, 9.32%, (3-Month SOFR + 5.00%), 11/05/31<sup>(1)</sup> | 1228825 | 984903 |
| Forest City Enterprises LLC, 0.00%, (SOFR + 0.00%), 12/08/25<sup>(2)</sup> | 1000000 | 998265 |
| Forest City Enterprises LLC, 7.58%, (1-Month SOFR + 3.61%), 12/08/25<sup>(1)</sup> | 3490000 | 3483945 |
| Franklin Square Holdings LP, 0.00%, (SOFR + 0.00%), 04/25/31<sup>(2)</sup> | 997475 | 996228 |
| Franklin Square Holdings LP, 6.21%, (1-Month SOFR + 2.25%), 04/25/31<sup>(1)</sup> | 513500 | 512858 |
| Hightower Holding LLC, 7.07%, (3-Month SOFR + 2.75%), 02/03/32<sup>(1)</sup> | 1136636 | 1138057 |
| Hudson River Trading LLC, 6.78%, (1-Month SOFR + 2.75%), 03/18/30<sup>(1)</sup> | 1550081 | 1554064 |
| Jane Street Group LLC, 5.96%, (1-Month SOFR + 2.00%), 12/15/31<sup>(1)</sup> | 1424017 | 1412533 |
| Jefferies Finance LLC, 6.80%, (1-Month SOFR + 2.75%), 10/21/31<sup>(1)</sup> | 3136312 | 3089268 |
| Jump Financial LLC, 7.50%, (3-Month SOFR + 3.50%), 02/26/32<sup>(1)</sup> | 997500 | 1001864 |
| LendingTree, Inc., 8.46%, (1-Month SOFR + 4.50%), 08/14/30<sup>(1)</sup> | 2020000 | 2012425 |
| Nexus Buyer LLC, 0.00%, (SOFR + 0.00%), 07/31/31<sup>(2)</sup> | 223941 | 222790 |
| Nexus Buyer LLC, 7.46%, (1-Month SOFR + 3.50%), 07/31/31<sup>(1)</sup> | 1321679 | 1314886 |
| Nexus Buyer LLC, 7.96%, (1-Month SOFR + 4.00%), 07/31/31<sup>(1)</sup> | 750000 | 752531 |
| OEG Borrower LLC, 7.53%, (1-Month SOFR + 3.50%), 06/30/31<sup>(1)</sup> | 1485000 | 1495209 |
| Russell Investments US Institutional Holdco, Inc., 8.96%, (1-Month SOFR + 5.00%), 05/30/27<sup>(1)</sup> | 1574899 | 1529628 |
| Superannuation & Investments US LLC, 6.96%, (1-Month SOFR + 3.00%), 12/01/28<sup>(1)</sup> | 669433 | 673617 |
| VFH Parent LLC, 6.46%, (1-Month SOFR + 2.50%), 06/21/31<sup>(1)</sup> | 701769 | 704126 |
| Total Financials |  | 37854616 |
| **Industrials – 11.2%** |  |  |
| AIT Worldwide Logistics Holdings, Inc., 8.25%, (3-Month SOFR + 4.00%), 04/08/30<sup>(1)</sup> | 476400 | 479130 |
| Alliance Laundry Systems LLC, 6.11%, (3-Month SOFR + 2.25%), 08/19/31<sup>(1)</sup> | 440964 | 442102 |
| Alliance Laundry Systems LLC, 6.25%, (1-Month SOFR + 2.25%), 08/19/31<sup>(1)</sup> | 240964 | 241586 |
| AMG Critical Materials NV, 7.58%, (1-Month SOFR + 3.61%), 11/30/28<sup>(1)</sup> | 1351974 | 1357327 |
| Clue Opco LLC, 8.34%, (3-Month SOFR + 4.50%), 12/19/30<sup>(1)</sup> | 808822 | 788266 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal** | **Value** |
| **TERM LOANS (continued)** |  |  |
| **Industrials (continued)** |  |  |
| Clydesdale Acquisition Holdings, Inc., 7.14%, (1-Month SOFR + 3.18%), 04/13/29<sup>(1)</sup> | $500000 | $500265 |
| Clydesdale Acquisition Holdings, Inc., 7.21%, (1-Month SOFR + 3.25%), 04/01/32<sup>(1)</sup> | 882788 | 881856 |
| Clydesdale Acquisition Holdings, Inc., 7.41%, (3-Month SOFR + 0.00%), 04/01/32<sup>(1)(5)</sup> | 15000 | 14984 |
| Cobham Ultra SeniorCo Sarl, 8.37%, (6-Month SOFR + 4.18%), 08/03/29<sup>(1)</sup> | 2303791 | 2313248 |
| Construction Partners, Inc., 6.46%, (1-Month SOFR + 2.50%), 11/03/31<sup>(1)</sup> | 692636 | 694800 |
| Creation Technologies, Inc., 9.70%, (3-Month SOFR + 5.76%), 10/05/28<sup>(1)</sup> | 1326814 | 1325156 |
| Crown Equipment Corp., 6.05%, (1-Month SOFR + 2.00%), 10/10/31<sup>(1)</sup> | 889444 | 895008 |
| Dynamo US Bidco, Inc., 7.36%, (1-Month SOFR + 3.25%), 09/30/31<sup>(1)</sup> | 1487487 | 1495855 |
| Dynasty Acquisition Co, Inc., 5.96%, (1-Month SOFR + 2.00%), 10/31/31<sup>(1)</sup> | 1027238 | 1030124 |
| Foley Products Co. LLC, 8.90%, (3-Month SOFR + 4.90%), 12/29/28<sup>(1)</sup> | 465832 | 468015 |
| HDI Aerospace Intermediate Holding III Corp., 7.69%, (3-Month SOFR + 3.75%), 02/11/32<sup>(1)</sup> | 1691500 | 1701023 |
| LSF11 Trinity Bidco, Inc., 6.52%, (1-Month SOFR + 2.50%), 06/14/30<sup>(1)</sup> | 1508373 | 1513086 |
| LSF12 Crown US Commercial Bidco LLC, 7.66%, (1-Month SOFR + 3.50%), 12/02/31<sup>(1)</sup> | 768075 | 773594 |
| Oscar Acquisitionco LLC, 8.25%, (3-Month SOFR + 4.25%), 04/29/29<sup>(1)</sup> | 1286146 | 1162354 |
| Owens-Illinois Group, Inc., 6.84%, (3-Month SOFR + 3.00%), 09/30/32<sup>(1)</sup> | 680000 | 679714 |
| PAC Aviation International, Inc., 7.11%, (3-Month SOFR + 3.25%), 10/27/30<sup>(1)</sup> | 700000 | 694533 |
| Pregis TopCo LLC, 7.96%, (1-Month SOFR + 4.00%), 02/01/29<sup>(1)</sup> | 850725 | 857297 |
| Quikrete Holdings, Inc., 6.21%, (1-Month SOFR + 2.25%), 04/14/31<sup>(1)</sup> | 741763 | 743785 |
| Quikrete Holdings, Inc., 6.21%, (1-Month SOFR + 2.25%), 02/10/32<sup>(1)</sup> | 323375 | 324133 |
| Rand Parent LLC, 7.00%, (3-Month SOFR + 3.00%), 03/18/30<sup>(1)</sup> | 1779697 | 1750038 |
| Red SPV LLC, 6.28%, (1-Month SOFR + 2.25%), 03/15/32<sup>(1)</sup> | 778050 | 778050 |
| Sanmina Corp., 0.00%, (SOFR + 0.00%), 10/27/32<sup>(2)</sup> | 755000 | 756887 |
| Stonepeak Nile Parent LLC, 6.16%, (3-Month SOFR + 2.25%), 04/09/32<sup>(1)</sup> | 1665000 | 1665175 |
| Third Coast Infrastructure LLC, 7.71%, (1-Month SOFR + 3.75%), 09/25/30<sup>(1)</sup> | 662487 | 663729 |
| TransDigm, Inc., 6.25%, (3-Month SOFR + 2.25%), 03/22/30<sup>(1)</sup> | 877063 | 878764 |
| TransDigm, Inc., 6.50%, (3-Month SOFR + 2.50%), 01/19/32<sup>(1)</sup> | 2069100 | 2072793 |

---

Schedule of Investments - Virtus Seix Senior Loan ETF (continued)

October 31, 2025 (unaudited)

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal** | **Value** |
| **TERM LOANS (continued)** |  |  |
| **Industrials (continued)** |  |  |
| TransDigm, Inc., 6.50%, (3-Month SOFR + 2.50%), 08/13/32<sup>(1)</sup> | $945000 | $946389 |
| TRC Cos LLC, 6.96%, (1-Month SOFR + 3.00%), 12/08/28<sup>(1)</sup> | 1411084 | 1415713 |
| Vertex Aerospace Services LLC, 6.21%, (1-Month SOFR + 2.25%), 12/06/30<sup>(1)</sup> | 1240625 | 1242368 |
| Total Industrials |  | 33547147 |
| **Technology – 12.2%** |  |  |
| Adeia, Inc., 6.46%, (1-Month SOFR + 2.50%), 06/08/28<sup>(1)</sup> | 895048 | 900642 |
| Ahead DB Holdings LLC, 6.75%, (3-Month SOFR + 2.75%), 02/01/31<sup>(1)</sup> | 1477603 | 1483757 |
| Amentum Holdings, Inc., 6.21%, (1-Month SOFR + 2.25%), 09/29/31<sup>(1)</sup> | 852000 | 852852 |
| Bingo Holdings I LLC, 8.75%, (3-Month SOFR + 4.75%), 06/30/32<sup>(1)</sup> | 907857 | 900290 |
| Bingo Holdings I LLC, 8.75%, 06/30/32<sup>(1)</sup> | 117143 | 116166 |
| Calabrio, Inc., 0.00%, (SOFR + 0.00%), 10/25/32<sup>(2)</sup> | 1235000 | 1174794 |
| Cloud Software Group, Inc., 7.25%, (3-Month SOFR + 3.25%), 03/21/31<sup>(1)</sup> | 1729417 | 1731717 |
| Cloud Software Group, Inc., 7.25%, (3-Month SOFR + 3.25%), 08/13/32<sup>(1)</sup> | 435000 | 435511 |
| Clover Holdings 2 LLC, 7.83%, (1-Month SOFR + 3.75%), 12/09/31<sup>(1)</sup> | 985050 | 986281 |
| Cyberswift BV, 7.94%, (3-Month SOFR + 4.00%), 10/08/32<sup>(1)</sup> | 1000000 | 1003130 |
| Darktrace Finco US LLC, 7.19%, (3-Month SOFR + 3.25%), 10/09/31<sup>(1)</sup> | 1308425 | 1312926 |
| Dawn Bidco LLC, 0.00%, (SOFR + 0.00%), 10/07/32<sup>(2)</sup> | 765000 | 763359 |
| EverCommerce Solutions, Inc., 6.21%, (1-Month SOFR + 2.25%), 07/07/31<sup>(1)</sup> | 792935 | 791615 |
| Finastra USA, Inc., 8.04%, (3-Month SOFR + 4.00%), 09/15/32<sup>(1)</sup> | 1180000 | 1167881 |
| Foundever Worldwide Corp., 7.83%, (1-Month SOFR + 3.86%), 08/28/28<sup>(1)</sup> | 491049 | 232021 |
| Indy US Holdco LLC, 6.46%, (1-Month SOFR + 2.50%), 10/31/30<sup>(1)</sup> | 1426425 | 1426425 |
| Inmar, Inc., 8.34%, (3-Month SOFR + 4.50%), 10/30/31<sup>(1)</sup> | 277529 | 276604 |
| Inmar, Inc., 8.46%, (1-Month SOFR + 4.50%), 10/30/31<sup>(1)</sup> | 370039 | 368805 |
| Inmar, Inc., 8.50%, (3-Month SOFR + 4.50%), 10/30/31<sup>(1)</sup> | 284061 | 283113 |
| KnowBe4, Inc., 7.59%, (3-Month SOFR + 3.75%), 07/21/32<sup>(1)</sup> | 685000 | 685000 |
| MaxLinear, Inc., 6.34%, (1-Month SOFR + 2.36%), 06/23/28<sup>(1)</sup> | 1201483 | 1117379 |
| Mermaid Bidco, Inc., 7.57%, (3-Month SOFR + 3.25%), 07/03/31<sup>(1)</sup> | 1859868 | 1866842 |
| MKS Instruments, Inc., 5.98%, (1-Month SOFR + 2.00%), 08/17/29<sup>(1)</sup> | 1454201 | 1459269 |
| Modena Buyer LLC, 8.09%, (3-Month SOFR + 4.25%), 07/01/31<sup>(1)</sup> | 608850 | 596369 |
| Perforce Software, Inc., 8.71%, (1-Month SOFR + 4.75%), 07/02/29<sup>(1)</sup> | 494951 | 443555 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal** | **Value** |
| **TERM LOANS (continued)** |  |  |
| **Technology (continued)** |  |  |
| Perforce Software, Inc., 8.71%, (1-Month SOFR + 4.75%), 03/21/31<sup>(1)</sup> | $493750 | $435734 |
| Pitney Bowes, Inc., 7.71%, (1-Month SOFR + 3.75%), 03/19/32<sup>(1)</sup> | 1994975 | 1995603 |
| Red Planet Borrower LLC, 7.96%, (1-Month SOFR + 4.00%), 09/08/32<sup>(1)</sup> | 1595000 | 1573731 |
| Starlight Parent LLC, 8.03%, (3-Month SOFR + 4.00%), 04/16/32<sup>(1)</sup> | 1010000 | 1006218 |
| Synechron, Inc., 7.71%, (1-Month SOFR + 3.75%), 10/03/31<sup>(1)</sup> | 1005000 | 982388 |
| UKG, Inc., 6.34%, (3-Month SOFR + 2.50%), 02/10/31<sup>(1)</sup> | 1634246 | 1635905 |
| Ultra Clean Holdings, Inc., 6.71%, (1-Month SOFR + 2.75%), 02/25/28<sup>(1)</sup> | 955046 | 961315 |
| UST Global, Inc., 7.03%, (1-Month SOFR + 3.00%), 11/20/28<sup>(1)</sup> | 965815 | 964608 |
| X Corp., 9.50%, 10/26/29 | 3185000 | 3198934 |
| X Corp., 10.45%, (6-Month SOFR + 6.75%), 10/26/29<sup>(1)</sup> | 1161834 | 1134241 |
| Total Technology |  | 36264980 |
| **Utilities – 3.3%** |  |  |
| Alpha Generation LLC, 5.96%, (1-Month SOFR + 2.00%), 09/30/31<sup>(1)</sup> | 1016342 | 1018766 |
| Carroll County Energy LLC, 7.25%, (3-Month SOFR + 3.25%), 06/30/31<sup>(1)</sup> | 842097 | 846308 |
| Eastern Power LLC, 9.21%, (1-Month SOFR + 5.25%), 04/03/28<sup>(1)</sup> | 1349551 | 1358668 |
| Hunterstown Generation LLC, 7.00%, (3-Month SOFR + 3.00%), 11/06/31<sup>(1)</sup> | 579078 | 580483 |
| Invenergy Thermal Operating I LLC, 7.85%, (SOFR + 3.61%), 05/17/32<sup>(1)</sup> | 1498769 | 1511733 |
| MRP Buyer LLC, 7.25%, (3-Month SOFR + 3.25%), 05/24/32<sup>(1)</sup> | 1357258 | 1336614 |
| MRP Buyer LLC, 7.25%, (3-Month SOFR + 3.25%), 06/04/32<sup>(1)(5)</sup> | 172742 | 170115 |
| Ohio Power Partners LLC, 0.00%, (SOFR + 0.00%), 10/28/32<sup>(2)</sup> | 675000 | 674156 |
| Potomac Energy Center LLC, 6.84%, (3-Month SOFR + 3.00%), 08/05/32<sup>(1)</sup> | 1250000 | 1257812 |
| Talen Energy Supply LLC, 6.73%, (3-Month SOFR + 2.50%), 05/17/30<sup>(1)</sup> | 269976 | 270632 |
| Talen Energy Supply LLC, 6.73%, (3-Month SOFR + 2.50%), 12/12/31<sup>(1)</sup> | 868438 | 870882 |
| Total Utilities |  | 9896169 |
| **Total Term Loans** |  |  |
| (Cost $274,113,789) |  | **273182599** |
| **CORPORATE BONDS – 2.4%** |  |  |
| **Basic Materials – 0.2%** |  |  |
| TMS International Corp., 6.25%, 04/15/29<sup>(6)</sup> | 560000 | 550323 |
| **Communications – 0.3%** |  |  |
| Cable One, Inc., 4.00%, 11/15/30<sup>(6)</sup> | 945000 | 747764 |
| Gray Television, Inc., 4.75%, 10/15/30<sup>(6)</sup> | 300000 | 213685 |

---

Schedule of Investments - Virtus Seix Senior Loan ETF (continued)

October 31, 2025 (unaudited)

---

| | | |
|:---|:---|:---|
| **Security Description** | **Principal** | **Value** |
| **CORPORATE BONDS (continued)** |  |  |
| **Communications (continued)** |  | |
| Total Communications |  | $961449 |
| **Consumer, Cyclical – 0.3%** |  |  |
| Warnermedia Holdings, Inc., 4.28%, 03/15/32 | $857000 | 786030 |
| **Consumer, Non-cyclical – 0.6%** |  |  |
| Emergent BioSolutions, Inc., 3.88%, 08/15/28<sup>(6)</sup> | 2000000 | 1771851 |
| **Financials – 0.3%** |  |  |
| Bread Financial Holdings, Inc., 6.75%, 05/15/31<sup>(6)</sup> | 1000000 | 1008092 |
| **Industrial – 0.3%** |  |  |
| Brundage-Bone Concrete Pumping Holdings, Inc., 7.50%, 02/01/32<sup>(6)</sup> | 1000000 | 1009992 |
| **Technology – 0.4%** |  |  |
| CoreWeave, Inc., 9.25%, 06/01/30<sup>(6)</sup> | 1000000 | 1011101 |
| **Total Corporate Bonds** |  |  |
| (Cost $7,020,834) |  | **7098838** |
| **ASSET BACKED SECURITIES – 1.1%** |  |  |
| Churchill Middle Market CLO V LLC, Class D, Series 2025-1A, 7.16%, (3-Month SOFR + 3.30%), 04/25/37<sup>(1)(6)</sup> | 500000 | 491874 |
| Mountain View CLO XIX Ltd., Class E, Series 2025-1A (Cayman Islands), 10.08%, (3-Month SOFR + 6.25%), 10/17/38<sup>(1)(3)(6)</sup> | 915000 | 914906 |
| Mountain View CLO XVI Ltd., Class ER, Series 2024-1A (Cayman Islands), 11.23%, (3-Month SOFR + 7.33%), 04/15/34<sup>(1)(3)(6)</sup> | 500000 | 502214 |
| Mountain View CLO XVII Ltd., Class D2R, Series 2025-1A (Cayman Islands), 8.47%, (3-Month SOFR + 4.50%), 10/15/38<sup>(1)(6)</sup> | 1190000 | 1192829 |
| **Total Asset Backed Securities** |  |  |
| (Cost $3,089,600) |  | **3101823** |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **AFFILIATED EXCHANGE TRADED FUND - 0.2%** |  |  |
| **Debt Fund - 0.2%** |  |  |
| Virtus Seix AAA Private Credit CLO ETF <sup>(7)(8)</sup> | 24000 | 599400 |
| **Total Affiliated Exchange Traded Fund** |  |  |
| (Cost $600,240) |  | **599400** |
| **COMMON STOCKS - 0.0%<sup>(9)</sup>** |  |  |
| **Communication Services - 0.0%<sup>(9)</sup>** |  |  |
| Altice France SA\* | 2359 | 39577 |
| **Communications - 0.0%<sup>(9)</sup>** |  |  |
| Digital Media Solutions, Inc.\*<sup>(3)</sup> | 1585 | 54413 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMON STOCKS (continued)** |  |  |
| **Financials - 0.0%<sup>(9)</sup>** |  |  |
| Altisource Portfolio Solutions SA\* | 403 | $3647 |
| **Total Common Stocks** |  |  |
| (Cost $64,095) |  | **97637** |
| **TOTAL INVESTMENTS - 95.2%** |  |  |
| (Cost $284,888,558) |  | **284080297** |
| Other Assets in Excess of Liabilities - 4.8% |  | 14434681 |
| **Net Assets - 100.0%** |  | $**298514978** |

---

\* Non-income producing security.

(1) Variable rate instrument. The interest rate shown reflects the rate in effect at October 31, 2025.

(2) The loan will settle after October 31, 2025, at which time the interest rate, calculated on the base lending rate and the agreed upon spread on trade date, will be reflected.

(3) Security valued at fair value as determined in good faith by or under the direction of the Trustees. This security is disclosed as a Level 3 security in the Fair Value Hierarchy table located after the Schedule of Investments.

(4) Security in default, no interest payments are being received.

(5) All or a portion of this security is subject to unfunded loan commitments.

(6) Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may not be resold subject to that rule except to qualified institutional buyers. Unless otherwise noted, 144A securities are deemed to be liquid. At October 31, 2025, the aggregate value of these securities was $9,414,631, or 3.2% of net assets.

(7) Affiliated investment.

(8) Shares of this fund are publicly offered, and its prospectus and annual report are publicly available.

(9) Amount rounds to less than 0.05%.

**Abbreviations:**

ETF — Exchange Traded Fund

SOFR — Secured Overnight Financing Rate

Schedule of Investments - Virtus Seix Senior Loan ETF (continued)

October 31, 2025 (unaudited)

**Fair Value Measurements**

The Fund utilizes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. Level 1 includes unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access. Level 2 includes observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data. Level 3 includes unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available; representing the Fund's own assumptions about the assumptions a market participant would use in valuing the asset or liability, and would be based on the best information available. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The following table summarizes valuation of the Fund's investments under the fair value hierarchy levels as of October 31, 2025.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Asset Valuation Inputs** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Term Loans | $— | $272860453 | $322146 (1) | $273182599 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate Bonds |  | 7098838 |  | 7098838 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset Backed Securities |  | 1684703 | 1417120 | 3101823 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Affiliated Exchange Traded Fund | 599400 |  |  | 599400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common Stocks | 43224 |  | 54413 | 97637 |
| **Total** | $**642624** | $**281643994** | $**1793679** | $**284080297** |

---

<sup>(1)</sup> Includes internally fair valued securities currently priced at zero ($0).

Some of the Fund's investments that were categorized as Level 3 were valued utilizing third party pricing information without adjustment. Such valuations are based on unobservable inputs. A significant change in third party information could result in a significantly lower or higher value of Level 3 investments.<br>A reconciliation of assets in which Level 3 inputs are used in determining fair value is presented when there are significant Level 3 investments at the end of the period. The following summarizes inputs (level 3) used as of October 31, 2025:

---

| | |
|:---|:---|
| Balance as of July 31, 2025 | $241390 |
| Realized gain (loss) | (85808) |
| Change in unrealized appreciation (depreciation) | 1337379 |
| Purchases | 1993082 |
| Sales | (1732364) |
| Amortization (accretion) |  |
| Transfers into Level 3 |  |
| Transfers out of Level 3 |  |
| Balance as of October 31, 2025 | 1793679 |
| Net change in unrealized appreciation (depreciation) from investments still held as of October 31, 2025: | $1337379 |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Virtus ETF Trust II

- **b. Investment Company Act file number:** 811-23078

- **c. CIK number of Registrant:** 0001648403

- **d. LEI of Registrant:** 549300KNJ4HBWHIYD309

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

  - **Street Address 1:** 1540 Broadway

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10036

  - **Telephone number:** 1-888-383-0553

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

- **a. Name of Series:** Virtus Seix Senior Loan ETF

- **b. EDGAR series identifier (if any):** S000064735

- **c. LEI of Series:** 5493002FXOZ36VHY8T45

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

- **a. Date of fiscal year-end:** 2026-07-31

- **b. Date as of which information is reported:** 2025-10-31

**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:** $337114846.35

**Total Liabilities:** $38596189.38

**Net Assets:** $298518656.97

**Cash Not Reported:** $20207129.34

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** -1019.65306900 | **30-Year:** -1282.72748600

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

- **3-Month:** -42.45015033 | **1-Year:** 0.00000000 | **5-Year:** -34395.48535000 | **10-Year:** -50708.22333000 | **30-Year:** -553.72969500

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000209678 | 0.62%                | 0.56%                | 0.07%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $199329.09               | $-262647.99                                |
| Month 2  | $-905949.80              | $813661.65                                 |
| Month 3  | $-696093.00              | $-1105981.73                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Natgasoline LLC                                                        | NATGASOLIN 03/24/30                         | CUSIP: 63232EAD9<br>LEI: 549300OHXDYMQYZOWC24 | Long             | LON              | CORP              | US        |    913438 | PA      | $921430.08    | 0.31%             | 2030-03-29      | Floating      | 9.50%                 | No            |                  2 | On Loan: No      |
| Light and Wonder International Inc                                     | LIGHT WONDER INT 04/14/29                   | CUSIP: 80875AAW1<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | LON              | CORP              | US        |    495000 | PA      | $497165.63    | 0.17%             | 2029-04-14      | Floating      | 6.29%                 | No            |                  2 | On Loan: No      |
| Knowbe4, Inc.                                                          | KNOWBE 07/23/32                             | CUSIP: 49925TAD7<br>LEI: 64883ZJ0RS5039H4PN24 | Long             | LON              | CORP              | US        |    685000 | PA      | $685000.00    | 0.23%             | 2032-07-21      | Floating      | 7.59%                 | No            |                  2 | On Loan: No      |
| Boots Group Finco LP                                                   | BOOTS GROUP BIDC 07/21/32                   | CUSIP: 09947PAB7<br>LEI: 254900YVLYOVF1PF1N93 | Long             | LON              | CORP              | US        |    845000 | PA      | $849753.13    | 0.28%             | 2032-08-30      | Floating      | 7.70%                 | No            |                  2 | On Loan: No      |
| Cengage Learning Inc                                                   | Cengage Learnin 03/22/24                    | CUSIP: 15131YAQ8<br>LEI: 549300BYGM0FWUSVXJ88 | Long             | LON              | CORP              | US        |    438142 | PA      | $433076.58    | 0.15%             | 2031-03-22      | Floating      | 7.48%                 | No            |                  2 | On Loan: No      |
| Clydesdale Acquisition Holdings Inc                                    | CLYDESDALE ACQUI 04/13/29                   | CUSIP: 18972FAC6<br>LEI: 254900QKSDYFR3K5YD98 | Long             | LON              | CORP              | US        |    500000 | PA      | $500265.00    | 0.17%             | 2029-04-13      | Floating      | 7.14%                 | No            |                  2 | On Loan: No      |
| Altisource Portfolio Solutions                                         | Altisource Portfolio Solutions SA           | CUSIP: 000000000<br>LEI: 894500OLCBOOO8WZUE76 | Long             | EC               | CORP              | LU        |       403 | NS      | $3647.15      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Neptune Bidco Us Inc.                                                  | NI 04/11/29                                 | CUSIP: 64069JAC6<br>LEI: 549300VG15T3VCYZ4531 | Long             | LON              | CORP              | US        |   2804743 | PA      | $2716042.55   | 0.91%             | 2029-04-11      | Floating      | 9.01%                 | No            |                  2 | On Loan: No      |
| Russell Investments US Institutional Holdco Inc.                       | RUSSELL INVTS US 05/30/27                   | CUSIP: 78249LAE0<br>LEI: 5493008YG7V0FQCJQI74 | Long             | LON              | CORP              | US        |   1568885 | PA      | $1523787.06   | 0.51%             | 2027-05-30      | Floating      | 8.96%                 | No            |                  2 | On Loan: No      |
| Asurion LLC                                                            | ASURION LLC 01/20/29                        | CUSIP: 04649VBA7<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |   2015000 | PA      | $1926702.70   | 0.65%             | 2029-01-20      | Floating      | 9.43%                 | No            |                  2 | On Loan: No      |
| Nourish Buyer I, Inc.                                                  | NOURISH BUYER 07/08/32                      | CUSIP: 66979CAH4<br>LEI: 254900WHHUSAU0TJQB23 | Long             | LON              | CORP              | US        |    525000 | PA      | $526312.50    | 0.18%             | 2032-07-08      | Floating      | 8.55%                 | No            |                  2 | On Loan: No      |
| Medline Borrower LP                                                    | MEDLINE BORROW 10/23/30                     | CUSIP: 58503UAJ2<br>LEI: 254900QT3R363TVK6F09 | Long             | LON              | CORP              | US        |   1769144 | PA      | $1771850.53   | 0.59%             | 2030-10-23      | Floating      | 5.96%                 | No            |                  2 | On Loan: No      |
| WEBER-STEPHEN PRODUCTS LLC                                             | WEBERSTEPHEN PRO 10/10/32                   | CUSIP: 000000000<br>LEI: 549300XU8TJBBGLK8V26 | Long             | LON              | CORP              | US        |   1005000 | PA      | $1003537.73   | 0.34%             | 2032-10-01      | Floating      | 7.74%                 | No            |                  2 | On Loan: No      |
| Rockpoint Gas Storage Partners LP                                      | ROCKPOINT GAS ST 09/18/31                   | CUSIP: 000000000<br>LEI: 549300ZXM0KTRM0NMI59 | Long             | LON              | CORP              | CA        |   1057012 | PA      | $1061636.93   | 0.36%             | 2031-09-18      | Floating      | 6.34%                 | No            |                  2 | On Loan: No      |
| Rockpoint Gas Storage Partners LP                                      | ROCKPOINT GAS ST 09/18/31                   | CUSIP: 000000000<br>LEI: 549300ZXM0KTRM0NMI59 | Long             | LON              | CORP              | CA        |    704675 | PA      | $707757.95    | 0.24%             | 2031-09-18      | Floating      | 6.34%                 | No            |                  2 | On Loan: No      |
| Virgin Media Bristol LLC                                               | VIRGIN MEDIA 9/1 01/04/28                   | CUSIP: 000000000<br>LEI: 213800IQ982XX69LE276 | Long             | LON              | CORP              | US        |     26784 | PA      | $26804.83     | 0.01%             | 2028-01-31      | Floating      | 6.65%                 | No            |                  2 | On Loan: No      |
| Vertex Aerospace Services Corp                                         | VERTEX AEROSPACE 12/06/30                   | CUSIP: 92532MAE5<br>LEI: 549300YOTFEWSPUJ2D47 | Long             | LON              | CORP              | US        |   1240625 | PA      | $1242368.08   | 0.42%             | 2030-12-06      | Floating      | 6.21%                 | No            |                  2 | On Loan: No      |
| UST Global Inc                                                         | UST GLO 11/20/28                            | CUSIP: 90355HAB0<br>LEI: 984500398691E4511Z04 | Long             | LON              | CORP              | US        |    965815 | PA      | $964608.07    | 0.32%             | 2028-11-20      | Floating      | 7.03%                 | No            |                  2 | On Loan: No      |
| ABG Intermediate Holdings 2 LLC                                        | ABG INTER HLDGS 02/13/32                    | CUSIP: 00076VBM1<br>LEI: 54930020NXD0RJB64985 | Long             | LON              | CORP              | US        |    223875 | PA      | $223735.08    | 0.07%             | 2032-02-13      | Floating      | 6.21%                 | No            |                  2 | On Loan: No      |
| Quikrete Holdings Inc                                                  | QUIKRETE HLDG 04/14/31                      | CUSIP: 74839XAM1<br>LEI: 5493007KIN86DIZWZT22 | Long             | LON              | CORP              | US        |    741763 | PA      | $743784.80    | 0.25%             | 2031-04-14      | Floating      | 6.21%                 | No            |                  2 | On Loan: No      |
| Team Health Holdings, Inc.                                             | TEAM HEALTH HLDG 06/23/28                   | CUSIP: 87817JAH1<br>LEI: 549300PVTQ4UDTTMQT11 | Long             | LON              | CORP              | US        |   1182038 | PA      | $1185648.62   | 0.40%             | 2028-06-30      | Floating      | 8.34%                 | No            |                  2 | On Loan: No      |
| Opal Bidco SAS                                                         | OPAL U 04/28/32                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1705000 | PA      | $1714326.35   | 0.57%             | 2032-04-28      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| Organon & Co                                                           | Organ 05/19/31                              | CUSIP: 68621XAG8<br>LEI: 549300AMCKY57OK2CO56 | Long             | LON              | CORP              | US        |   1076927 | PA      | $977645.48    | 0.33%             | 2031-05-19      | Floating      | 6.24%                 | No            |                  2 | On Loan: No      |
| Consolidated Energy Finance SA                                         | CONSOLIDATED E 11/07/30                     | CUSIP: 000000000<br>LEI: 549300PUNIS0USNSL750 | Long             | LON              | CORP              | LU        |    621475 | PA      | $524835.43    | 0.18%             | 2030-11-15      | Floating      | 8.20%                 | No            |                  2 | On Loan: No      |
| Perforce Software Inc                                                  | PERFORCE SOFTWAR 03/24/31                   | CUSIP: 71376GAJ0<br>LEI: 549300322GBMUSL1VG17 | Long             | LON              | CORP              | US        |    493750 | PA      | $435734.38    | 0.15%             | 2031-03-21      | Floating      | 8.71%                 | No            |                  2 | On Loan: No      |
| Topgolf Callaway Brands Corp.                                          | Topgolf Callaway 03/15/30                   | CUSIP: 89071LAB6<br>LEI: 5493005UB0KFRKBPCU72 | Long             | LON              | CORP              | US        |   1188644 | PA      | $1181755.41   | 0.40%             | 2030-03-15      | Floating      | 6.96%                 | No            |                  2 | On Loan: No      |
| X Corp (f/k/a Twitter Inc)                                             | TWITTER (X 10/26/29                         | CUSIP: 90184NAG3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1161834 | PA      | $1134240.69   | 0.38%             | 2029-10-26      | Floating      | 10.45%                | No            |                  2 | On Loan: No      |
| Jane Street Group LLC                                                  | JANE STR GROU 12/11/31                      | CUSIP: 47077DAM2<br>LEI: 5493002N1IVX6KHGYO08 | Long             | LON              | CORP              | US        |   1424017 | PA      | $1412532.77   | 0.47%             | 2031-12-15      | Floating      | 6.20%                 | No            |                  2 | On Loan: No      |
| Gray Television Inc                                                    | Gray Televisio 12/01/28                     | CUSIP: 389376AZ7<br>LEI: 529900TM5726KDN7UU35 | Long             | LON              | CORP              | US        |    579749 | PA      | $581395.45    | 0.19%             | 2028-12-01      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| Ineos Quattro Holdings UK Limited                                      | INEOS QUATTRO HL 10/01/31                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1099475 | PA      | $888238.37    | 0.30%             | 2031-10-07      | Floating      | 8.21%                 | No            |                  2 | On Loan: No      |
| Bingo Holdings I, LLC                                                  | BINGO HLDGS 06/30/32                        | CUSIP: 09081AAC4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    117143 | PA      | $116166.46    | 0.04%             | 2032-06-30      | Floating      | 8.75%                 | No            |                  2 | On Loan: No      |
| Soliant Lower Intermediate LLC                                         | SOLIANT LOWER IN 06/20/31                   | CUSIP: 83421EAB2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1276747 | PA      | $1179394.76   | 0.40%             | 2031-07-18      | Floating      | 7.79%                 | No            |                  2 | On Loan: No      |
| Qnity Electronics, Inc.                                                | QNITY ELECTRONICS INC                       | CUSIP: 74737SAB9<br>LEI: 254900RSUG4J9TFFZX53 | Long             | LON              | CORP              | US        |    845000 | PA      | $846588.60    | 0.28%             | 2032-08-12      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| Bingo Holdings I, LLC                                                  | BINGO HLDGS 06/30/32                        | CUSIP: 09081AAC4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    907857 | PA      | $900290.16    | 0.30%             | 2032-06-30      | Floating      | 8.75%                 | No            |                  2 | On Loan: No      |
| Team Services Group LLC                                                | TEAM PUBLIC CHOICES LLC                     | CUSIP: 87821EAG8<br>LEI: 2549000UQACQVCO13Y82 | Long             | LON              | CORP              | US        |    300000 | PA      | $299686.50    | 0.10%             | 2027-12-20      | Floating      | 9.09%                 | No            |                  2 | On Loan: No      |
| Virgin Media Bristol LLC                                               | VIRGIN MEDIA BRI 01/31/29                   | CUSIP: 000000000<br>LEI: 213800IQ982XX69LE276 | Long             | LON              | CORP              | US        |   1500000 | PA      | $1499377.50   | 0.50%             | 2029-01-31      | Floating      | 7.40%                 | No            |                  2 | On Loan: No      |
| Chemours Company (The)                                                 | Chemou 10/15/32                             | CUSIP: 16384YAM9<br>LEI: 549300M1BOLNXL8DOV14 | Long             | LON              | CORP              | US        |   1290545 | PA      | $1272477.22   | 0.43%             | 2032-10-15      | Floating      | 7.46%                 | No            |                  2 | On Loan: No      |
| Viasat Inc                                                             | VIASA 05/30/30                              | CUSIP: 92555WAF2<br>LEI: UFC8NYMNFSYIHNSM2I38 | Long             | LON              | CORP              | US        |    598473 | PA      | $593236.64    | 0.20%             | 2030-05-30      | Floating      | 8.65%                 | No            |                  2 | On Loan: No      |
| Red SPV LLC                                                            | RED SP 03/06/32                             | CUSIP: 75701MAE5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    778050 | PA      | $778050.00    | 0.26%             | 2032-03-15      | Floating      | 6.28%                 | No            |                  2 | On Loan: No      |
| Aspire Bakeries Holdings LLC                                           | ASPIRE BAKERIES 12/23/30                    | CUSIP: 000000000<br>LEI: 549300MWN7R72KAKOD18 | Long             | LON              | CORP              | US        |    595492 | PA      | $599961.63    | 0.20%             | 2030-12-23      | Floating      | 7.47%                 | No            |                  2 | On Loan: No      |
| AMG Advanced Metallurgical Group NV                                    | AMG Advanced Met 11/30/28                   | CUSIP: 000000000<br>LEI: 5493006MN6OH67U2YI74 | Long             | LON              | CORP              | NL        |    961327 | PA      | $965133.79    | 0.32%             | 2028-11-30      | Floating      | 7.58%                 | No            |                  2 | On Loan: No      |
| Ultra Clean Holdings Inc                                               | Ultra Clean Hldg 02/25/28                   | CUSIP: 90385YAG6<br>LEI: 5493007L6LS7QX18PE75 | Long             | LON              | CORP              | US        |    955046 | PA      | $961315.43    | 0.32%             | 2028-02-25      | Floating      | 6.71%                 | No            |                  2 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                                               | Warnermedia Holdings Inc                    | CUSIP: 55903VBQ5<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |    857000 | PA      | $786029.69    | 0.26%             | 2032-03-15      | Fixed         | 4.28%                 | No            |                  2 | On Loan: No      |
| Triton Water Holdings Inc                                              | TRITON WATER HLD 03/31/28                   | CUSIP: 89678QAD8<br>LEI: 254900J0WS4AXV2LAX55 | Long             | LON              | CORP              | US        |    691478 | PA      | $694087.94    | 0.23%             | 2028-03-31      | Floating      | 6.25%                 | No            |                  2 | On Loan: No      |
| BRUNDAGE-BONE CONCRETE                                                 | Brundage-Bone Concrete Pumping Holdings Inc | CUSIP: 66981QAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1009992.00   | 0.34%             | 2032-02-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Autokiniton US Holdings Inc                                            | AUTOKINITON US H 04/06/28                   | CUSIP: 05278HAC0<br>LEI: 254900EHNKMJ1OSEZL85 | Long             | LON              | CORP              | US        |   1720547 | PA      | $1658176.84   | 0.56%             | 2028-04-06      | Floating      | 8.08%                 | No            |                  2 | On Loan: No      |
| Priority Holdings LLC                                                  | PRIORITY HLDG 07/30/32                      | CUSIP: 74275TAH2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1840013 | PA      | $1843233.11   | 0.62%             | 2032-07-30      | Floating      | 7.71%                 | No            |                  2 | On Loan: No      |
| Clydesdale Acquisition Holdings Inc                                    | CLYDESDALE ACQUI 03/27/32                   | CUSIP: 18972FAE2<br>LEI: 254900QKSDYFR3K5YD98 | Long             | LON              | CORP              | US        |    882788 | PA      | $881856.16    | 0.30%             | 2032-04-01      | Floating      | 7.35%                 | No            |                  2 | On Loan: No      |
| LifePoint Health Inc                                                   | LIFEPOINT HEALTH 05/19/31                   | CUSIP: 75915TAL6<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | LON              | CORP              | US        |    522368 | PA      | $522817.66    | 0.18%             | 2031-05-16      | Floating      | 7.66%                 | No            |                  2 | On Loan: No      |
| Virtus SEIX AAA Private Credit CLO ETF                                 | Virtus SEIX AAA Private Credit CLO ETF      | CUSIP: 92790A850<br>LEI: 529900PV11N8CFOZUS23 | Long             | EC               | RF                | US        |     24000 | NS      | $599400.00    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Team Services Group LLC                                                | TEAM SERVICES GR 12/20/27                   | CUSIP: 87821EAF0<br>LEI: 2549000UQACQVCO13Y82 | Long             | LON              | CORP              | US        |    863308 | PA      | $862858.77    | 0.29%             | 2027-12-20      | Floating      | 9.41%                 | No            |                  2 | On Loan: No      |
| Neptune Bidco US Inc                                                   | NEPTUNE BIDCO U 10/11/29                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    834730 | PA      | $834730.24    | 0.28%             | 2029-10-11      | Floating      | 13.76%                | No            |                  2 | On Loan: No      |
| Varsity Brands, Inc.                                                   | Varsity Brand 08/26/31                      | CUSIP: 92227QAG1<br>LEI: 254900PLBJA0I5NSTT38 | Long             | LON              | CORP              | US        |    997500 | PA      | $1000991.25   | 0.34%             | 2031-08-26      | Floating      | 7.03%                 | No            |                  2 | On Loan: No      |
| Fugue Finance B.V.                                                     | Fugue F 01/09/32                            | CUSIP: 000000000<br>LEI: 254900Y4DWBRGAFENC88 | Long             | LON              | CORP              | HK        |    807948 | PA      | $811042.88    | 0.27%             | 2032-01-09      | Floating      | 6.95%                 | No            |                  2 | On Loan: No      |
| DIGITAL MEDIA SOLUTIONS                                                | DIGITAL MEDIA SOLUTIONS                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1585 | NS      | $54413.05     | 0.02%             |  |  |  | No            |                  3 | On Loan: No      |
| Clover Holdings 2, LLC                                                 | CLOVER HLDGS 11/01/31                       | CUSIP: 18914DAB4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    985050 | PA      | $986281.31    | 0.33%             | 2031-12-09      | Floating      | 7.83%                 | No            |                  2 | On Loan: No      |
| NGL Energy Operating LLC                                               | NGL ENERGY OPE 02/03/31                     | CUSIP: 62922KAF7<br>LEI: 5493008CQD36WWZJ3O79 | Long             | LON              | CORP              | US        |    776338 | PA      | $777793.32    | 0.26%             | 2031-02-03      | Floating      | 7.46%                 | No            |                  2 | On Loan: No      |
| Lumen Technologies, Inc.                                               | LUMEN TECHNOLOGIES INC                      | CUSIP: 55024EAG0<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | LON              | CORP              | US        |    750000 | PA      | $747258.75    | 0.25%             | 2030-04-15      | Floating      | 6.43%                 | No            |                  2 | On Loan: No      |
| Starlight Parent LLC                                                   | STARLIGHT PAREN 03/15/32                    | CUSIP: 85554UAB0<br>LEI: 254900ZM34IBOK68V949 | Long             | LON              | CORP              | US        |   1010000 | PA      | $1006217.55   | 0.34%             | 2032-04-16      | Floating      | 8.03%                 | No            |                  2 | On Loan: No      |
| First Advantage Holdings LLC                                           | FIRST ADVANTAGE HOLDINGS LLC                | CUSIP: 78477MAH4<br>LEI: 549300MRQE5MQEH3BI02 | Long             | LON              | CORP              | US        |    660000 | PA      | $643707.90    | 0.22%             | 2031-10-31      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| CABLE ONE INC                                                          | Cable One Inc                               | CUSIP: 12685JAC9<br>LEI: 549300648QS85T0XSH18 | Long             | DBT              | CORP              | US        |    945000 | PA      | $747764.56    | 0.25%             | 2030-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| AMG Advanced Metallurgical Group NV                                    | AMG Advanced Met 11/30/28                   | CUSIP: 000000000<br>LEI: 5493006MN6OH67U2YI74 | Long             | LON              | CORP              | NL        |    390647 | PA      | $392193.52    | 0.13%             | 2028-11-30      | Floating      | 7.58%                 | No            |                  2 | On Loan: No      |
| Oravel Stays Private Limited                                           | ORAVEL STAYS SIN 12/20/29                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | SG        |    772654 | PA      | $801628.77    | 0.27%             | 2029-12-20      | Floating      | 12.00%                | No            |                  2 | On Loan: No      |
| HUNTERSTOWN GENERATION LLC                                             | KESTREL ACQUISIT 11/06/31                   | CUSIP: 44579UAD4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    579078 | PA      | $580482.68    | 0.19%             | 2031-11-06      | Floating      | 7.00%                 | No            |                  2 | On Loan: No      |
| Oravel Stays Private Limited                                           | ORAVEL STAYS SIN 12/20/29                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | SG        |   1228119 | PA      | $1274173.14   | 0.43%             | 2029-12-20      | Floating      | 12.00%                | No            |                  2 | On Loan: No      |
| Cloud Software Group Inc                                               | CLOUD SOFTWARE G 08/13/32                   | CUSIP: 88632NBL3<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | LON              | CORP              | US        |      3588 | PA      | $3591.72      | 0.00%             | 2032-08-13      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| Cloud Software Group Inc                                               | CLOUD SOFTWARE G 08/13/32                   | CUSIP: 88632NBL3<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | LON              | CORP              | US        |    431412 | PA      | $431919.41    | 0.14%             | 2032-08-13      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| Oscar AcquisitionCo LLC                                                | OSCAR ACQUISITIO 04/29/29                   | CUSIP: 68778DAB4<br>LEI: 254900RDCZK0Q19MEL65 | Long             | LON              | CORP              | US        |   1286146 | PA      | $1162354.51   | 0.39%             | 2029-04-29      | Floating      | 8.25%                 | No            |                  2 | On Loan: No      |
| Ahead DB Holdings LLC                                                  | AHEAD DB HLDG 02/01/31                      | CUSIP: 00866HAH8<br>LEI: 254900L07WFL833JX193 | Long             | LON              | CORP              | US        |   1477603 | PA      | $1483757.15   | 0.50%             | 2031-02-01      | Floating      | 6.75%                 | No            |                  2 | On Loan: No      |
| EverCommerce Solutions Inc                                             | EVERCOMMERCE SOL 07/07/31                   | CUSIP: 29977YAB9<br>LEI: 9845005E54E3C158EA55 | Long             | LON              | CORP              | US        |    792935 | PA      | $791614.82    | 0.27%             | 2031-07-07      | Floating      | 6.21%                 | No            |                  2 | On Loan: No      |
| Carroll County Energy LLC                                              | CARROLL CNTY ENE 06/24/31                   | CUSIP: 14474FAY0<br>LEI: 549300P5WM1CIGEGUG23 | Long             | LON              | CORP              | US        |    842097 | PA      | $846307.73    | 0.28%             | 2031-06-30      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| SKECHERS U.S.A. INC. (Beach Acquisition Bidco)                         | BEACH ACQUISITIO 09/12/32                   | CUSIP: 07337FAB1<br>LEI: 254900F2FNX3GBTB6202 | Long             | LON              | CORP              | US        |    625000 | PA      | $629165.63    | 0.21%             | 2032-09-12      | Floating      | 7.31%                 | No            |                  2 | On Loan: No      |
| Quikrete Holdings Inc                                                  | QUIKRETE HLDG 02/10/32                      | CUSIP: 74839XAL3<br>LEI: 5493007KIN86DIZWZT22 | Long             | LON              | CORP              | US        |    323375 | PA      | $324133.31    | 0.11%             | 2032-02-10      | Floating      | 6.21%                 | No            |                  2 | On Loan: No      |
| Franklin Square Holdings LP                                            | FRANKLIN SQUARE 04/18/31                    | CUSIP: 30259HAG2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    513500 | PA      | $512858.13    | 0.17%             | 2031-04-25      | Floating      | 6.21%                 | No            |                  2 | On Loan: No      |
| DirectV Financing LLC                                                  | DIRECTV FINANCING LLC                       | CUSIP: 25460HAD4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    331156 | PA      | $332123.05    | 0.11%             | 2029-08-02      | Floating      | 9.35%                 | No            |                  2 | On Loan: No      |
| MH Sub I LLC                                                           | INTERNET BRANDS 04/25/28                    | CUSIP: 45567YAN5<br>LEI: 2549005VFKP807SR8N49 | Long             | LON              | CORP              | US        |    229337 | PA      | $209156.78    | 0.07%             | 2028-05-03      | Floating      | 8.25%                 | No            |                  2 | On Loan: No      |
| Neptune Bidco Us Inc.                                                  | NEPTUNE BIDCO U 10/11/28                    | CUSIP: 64069JAF9<br>LEI: 549300VG15T3VCYZ4531 | Long             | LON              | CORP              | US        |    226442 | PA      | $219391.71    | 0.07%             | 2028-10-11      | Floating      | 8.76%                 | No            |                  2 | On Loan: No      |
| Asurion LLC                                                            | ASURIO 09/13/30                             | CUSIP: 04649VBD1<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |   1709167 | PA      | $1705962.11   | 0.57%             | 2030-09-19      | Floating      | 8.21%                 | No            |                  2 | On Loan: No      |
| Jefferies Finance LLC                                                  | JEFFERIES FI 10/21/31                       | CUSIP: 000000000<br>LEI: 549300SKVB18YSSIDT75 | Long             | LON              | CORP              | US        |   3136312 | PA      | $3089267.75   | 1.03%             | 2031-10-21      | Floating      | 6.80%                 | No            |                  2 | On Loan: No      |
| WH Borrower LLC                                                        | WH BORROWE 02/17/32                         | CUSIP: 92942LAG6<br>LEI: 2549009H920CQUE3R944 | Long             | LON              | CORP              | US        |   2613450 | PA      | $2619983.63   | 0.88%             | 2032-02-20      | Floating      | 8.95%                 | No            |                  2 | On Loan: No      |
| Oeg Borrower, LLC                                                      | OEG BORROWE 06/25/31                        | CUSIP: 67115HAG8<br>LEI: 254900UUVX9EYPUMP391 | Long             | LON              | CORP              | US        |   1485000 | PA      | $1495209.38   | 0.50%             | 2031-06-30      | Floating      | 7.53%                 | No            |                  2 | On Loan: No      |
| Cobham Ultra Seniorco S.A R.L.                                         | COBHAM (AI CONVO 11/17/28                   | CUSIP: 000000000<br>LEI: 254900L6IKLPZKIC4F32 | Long             | LON              | CORP              | LU        |   2303790 | PA      | $2313247.56   | 0.77%             | 2029-08-03      | Floating      | 8.37%                 | No            |                  2 | On Loan: No      |
| VFH Parent LLC                                                         | VFH PAREN 06/21/31                          | CUSIP: 91820UAV2<br>LEI: 549300FRO9M476YHHY64 | Long             | LON              | CORP              | US        |    701769 | PA      | $704126.45    | 0.24%             | 2031-06-21      | Floating      | 6.46%                 | No            |                  2 | On Loan: No      |
| Adeia Inc                                                              | Adei 06/08/28                               | CUSIP: 98422BAD1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    895048 | PA      | $900641.71    | 0.30%             | 2028-06-08      | Floating      | 6.46%                 | No            |                  2 | On Loan: No      |
| EIG Management Company LLC                                             | EIG MGMT C 05/14/29                         | CUSIP: 26858HAD2<br>LEI: 5493007EDFEL0IR8BD89 | Long             | LON              | CORP              | US        |    424625 | PA      | $424625.00    | 0.14%             | 2029-05-17      | Floating      | 8.98%                 | No            |                  2 | On Loan: No      |
| Forest City Enterprises LP                                             | Forest City Ente 12/08/25                   | CUSIP: 34555QAF7<br>LEI: 54930078MCT017XXRD21 | Long             | LON              | CORP              | US        |   3490000 | PA      | $3483944.85   | 1.17%             | 2025-12-08      | Floating      | 7.58%                 | No            |                  2 | On Loan: No      |
| Cable One Inc                                                          | Cable On 05/03/28                           | CUSIP: 12685LAG5<br>LEI: 549300648QS85T0XSH18 | Long             | LON              | CORP              | US        |    375539 | PA      | $366856.50    | 0.12%             | 2028-05-03      | Floating      | 6.08%                 | No            |                  2 | On Loan: No      |
| Forest City Enterprises LP                                             | Forest City Enterprises LP                  | CUSIP: 34555QAF7<br>LEI: 54930078MCT017XXRD21 | Long             | LON              | CORP              | US        |   1000000 | PA      | $998265.00    | 0.33%             | 2025-12-08      | Floating      | 7.58%                 | No            |                  2 | On Loan: No      |
| Finco I LLC                                                            | FINCO 06/27/29                              | CUSIP: 31774BAH7<br>LEI: 5493001RSEZ0X6VJMC68 | Long             | LON              | CORP              | US        |    786566 | PA      | $786648.73    | 0.26%             | 2029-06-27      | Floating      | 5.71%                 | No            |                  2 | On Loan: No      |
| Sabre GLBL Inc                                                         | Sabr 11/15/29                               | CUSIP: 78571YBL3<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | LON              | CORP              | US        |    291668 | PA      | $271251.33    | 0.09%             | 2029-11-15      | Floating      | 10.06%                | No            |                  2 | On Loan: No      |
| OHIO PARTNERS, LLC                                                     | OHIO POWER PARTNERS LLC                     | CUSIP: 000000000<br>LEI: 549300Z0YR6RZJ5V9548 | Long             | LON              | CORP              | US        |    675000 | PA      | $674156.25    | 0.23%             | 2032-10-28      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| Lumen Technologies, Inc.                                               | Lumen Tec 06/01/28                          | CUSIP: 55024EAD7<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | LON              | CORP              | US        |   2961179 | PA      | $3011149.03   | 1.01%             | 2028-06-01      | Floating      | 9.96%                 | No            |                  2 | On Loan: No      |
| Camelot US Acquisition I Co                                            | CAMELOT US ACQUI 01/31/31                   | CUSIP: 000000000<br>LEI: 549300U6VBJHQP2SFL81 | Long             | LON              | CORP              | US        |    188771 | PA      | $185644.75    | 0.06%             | 2031-01-31      | Floating      | 6.71%                 | No            |                  2 | On Loan: No      |
| Camelot US Acquisition I Co                                            | CAMELOT US ACQUI 01/31/31                   | CUSIP: 000000000<br>LEI: 549300U6VBJHQP2SFL81 | Long             | LON              | CORP              | US        |     17260 | PA      | $16973.95     | 0.01%             | 2031-01-31      | Floating      | 6.71%                 | No            |                  2 | On Loan: No      |
| Camelot US Acquisition I Co                                            | CAMELOT US ACQUI 01/31/31                   | CUSIP: 000000000<br>LEI: 549300U6VBJHQP2SFL81 | Long             | LON              | CORP              | US        |    813969 | PA      | $800490.11    | 0.27%             | 2031-01-31      | Floating      | 6.71%                 | No            |                  2 | On Loan: No      |
| Sazerac Company, Inc.                                                  | SAZERAC C 07/09/32                          | CUSIP: 80583EAN6<br>LEI: 9QU0CG1O4LSOB6IFK895 | Long             | LON              | CORP              | US        |    730000 | PA      | $734788.80    | 0.25%             | 2032-07-09      | Floating      | 6.58%                 | No            |                  2 | On Loan: No      |
| MOUNTAIN VIEW CLO                                                      | Mountain View Clo XIX Ltd                   | CUSIP: 623912AA0<br>LEI: 254900L6WFB2NIQTBG86 | Long             | ABS-CBDO         | CORP              | KY        |    915000 | PA      | $914905.76    | 0.31%             | 2038-10-17      | Floating      | 10.08%                | No            |                  3 | On Loan: No      |
| NAB Holdings LLC                                                       | NAB HLDG 11/24/28                           | CUSIP: 66345FAB7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1024857 | PA      | $1003995.56   | 0.34%             | 2028-11-24      | Floating      | 6.50%                 | No            |                  2 | On Loan: No      |
| Voyage Digital (Nz) Limited                                            | VOYAGE DIGITAL N 05/11/29                   | CUSIP: 000000000<br>LEI: 984500E641C3F2A8E121 | Long             | LON              | CORP              | NZ        |    491965 | PA      | $494424.56    | 0.17%             | 2029-05-11      | Floating      | 7.44%                 | No            |                  2 | On Loan: No      |
| HDI Aerospace Intermediate Holding Iii Corporation                     | HDI AEROSPACE IN 02/11/32                   | CUSIP: 000000000<br>LEI: 254900LKRYAGKIYOHW04 | Long             | LON              | CORP              | US        |   1691500 | PA      | $1701023.15   | 0.57%             | 2032-02-11      | Floating      | 7.69%                 | No            |                  2 | On Loan: No      |
| Eastern Power LLC                                                      | EASTERN PW 10/02/25                         | CUSIP: 87264NAB3<br>LEI: 5493000R3E1L1VM1V279 | Long             | LON              | CORP              | US        |   1349551 | PA      | $1358667.62   | 0.46%             | 2028-04-03      | Floating      | 9.21%                 | No            |                  2 | On Loan: No      |
| Team Blue Finco Sarl                                                   | teamblue Finco 07/12/32                     | CUSIP: 000000000<br>LEI: 549300DR8PIYMOZ4YU85 | Long             | LON              | CORP              | LU        |   1366575 | PA      | $1368925.51   | 0.46%             | 2032-07-12      | Floating      | 7.44%                 | No            |                  2 | On Loan: No      |
| X Corp (f/k/a Twitter Inc)                                             | X 10/26/29                                  | CUSIP: 90184NAK4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3185000 | PA      | $3198934.38   | 1.07%             | 2029-10-26      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Digital Media Solutions LLC                                            | DIGITAL MEDIA SO 04/26/28                   | CUSIP: 25401HAC8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    416979 | PA      | $0.00         | 0.00%             | 2026-05-25      | Floating      | 15.43%                | No            |                  3 | On Loan: No      |
| Nexus Buyer LLC                                                        | NEXUS BUYE 07/31/31                         | CUSIP: 65343UAH5<br>LEI: 254900PILSANV8WOOF24 | Long             | LON              | CORP              | US        |   1321679 | PA      | $1314885.77   | 0.44%             | 2031-07-31      | Floating      | 7.46%                 | No            |                  2 | On Loan: No      |
| Invenergy Thermal Operating I LLC                                      | INVENERGY THERMA 05/06/32                   | CUSIP: 000000000<br>LEI: 549300JF5R5BXJAMZL67 | Long             | LON              | CORP              | US        |   1398769 | PA      | $1410868.53   | 0.47%             | 2032-05-17      | Floating      | 7.73%                 | No            |                  2 | On Loan: No      |
| Ineos US Finance LLC                                                   | Ineos US Fi 02/07/31                        | CUSIP: 000000000<br>LEI: 5493008MHJ4R367SNK31 | Long             | LON              | CORP              | US        |   2193383 | PA      | $1866020.99   | 0.63%             | 2031-02-07      | Floating      | 6.96%                 | No            |                  2 | On Loan: No      |
| Epic Crude Services LP                                                 | EPIC CRUDE SERVI 10/15/31                   | CUSIP: 29428XAJ9<br>LEI: 549300FRS682IQ7J9S42 | Long             | LON              | CORP              | US        |    928506 | PA      | $934063.36    | 0.31%             | 2031-10-15      | Floating      | 6.34%                 | No            |                  2 | On Loan: No      |
| Transdigm Inc                                                          | Transdig 09/05/32                           | CUSIP: 89364MCD4<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | LON              | CORP              | US        |   2069100 | PA      | $2072793.34   | 0.69%             | 2032-01-19      | Floating      | 6.50%                 | No            |                  2 | On Loan: No      |
| TRC Companies LLC                                                      | TRC CO 12/08/28                             | CUSIP: 29280KAH8<br>LEI: 254900PXZ95ALUX12V67 | Long             | LON              | CORP              | US        |   1411084 | PA      | $1415712.71   | 0.47%             | 2028-12-08      | Floating      | 6.96%                 | No            |                  2 | On Loan: No      |
| Prometric Holdings Inc                                                 | PROMETRIC HLDG 06/25/32                     | CUSIP: 80358TAG1<br>LEI: 54930034OH1XQT27TX40 | Long             | LON              | CORP              | US        |    670000 | PA      | $674187.50    | 0.23%             | 2032-06-25      | Floating      | 7.71%                 | No            |                  2 | On Loan: No      |
| Ahlstrom Holding 3 Oy fka Spa Holdings 3                               | AhlstromMunksjo 02/04/28                    | CUSIP: 000000000<br>LEI: 254900HXD0I72WZYIT06 | Long             | LON              | CORP              | US        |     41869 | PA      | $42070.02     | 0.01%             | 2028-02-04      | Floating      | 8.26%                 | No            |                  2 | On Loan: No      |
| Ensono LP                                                              | ENSONO 05/20/28                             | CUSIP: 29359DAB3<br>LEI: 5493003GTMBHX0VZAW67 | Long             | LON              | CORP              | US        |   1150817 | PA      | $1152813.41   | 0.39%             | 2028-05-26      | Floating      | 8.08%                 | No            |                  2 | On Loan: No      |
| HighTower Holding LLC                                                  | HIGHTOWER HLDG 02/03/32                     | CUSIP: 43117LAP8<br>LEI: 254900MKOSB7RTMA9K12 | Long             | LON              | CORP              | US        |   1136636 | PA      | $1138056.59   | 0.38%             | 2032-02-03      | Floating      | 7.07%                 | No            |                  2 | On Loan: No      |
| Construction Partners Inc                                              | Constr Partner 10/29/31                     | CUSIP: 21043XAH5<br>LEI: 549300MHLFL4E8JLZU44 | Long             | LON              | CORP              | US        |    692636 | PA      | $694800.15    | 0.23%             | 2031-11-03      | Floating      | 6.46%                 | No            |                  2 | On Loan: No      |
| Stonepeak Nile Parent LLC                                              | STONEPEAK NILE P 04/09/32                   | CUSIP: 86184XAD6<br>LEI: 254900TJV3VAFZD0GU41 | Long             | LON              | CORP              | US        |   1665000 | PA      | $1665174.83   | 0.56%             | 2032-04-09      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| Calabrio/Verint                                                        | CALABRIO INC                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1235000 | PA      | $1174793.75   | 0.39%             | 2032-10-24      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| Voyager Parent, LLC                                                    | VOYAGER PAREN 05/09/32                      | CUSIP: 92921HAC9<br>LEI: 2549002DYVI4ACSV4V71 | Long             | LON              | CORP              | US        |   1005964 | PA      | $1007286.48   | 0.34%             | 2032-07-01      | Floating      | 8.75%                 | No            |                  2 | On Loan: No      |
| Voyager Parent, LLC                                                    | VOYAGER PAREN 05/09/32                      | CUSIP: 92921HAC9<br>LEI: 2549002DYVI4ACSV4V71 | Long             | LON              | CORP              | US        |    164036 | PA      | $164252.07    | 0.06%             | 2032-07-01      | Floating      | 8.75%                 | No            |                  2 | On Loan: No      |
| Mermaid Bidco Inc                                                      | MERMAID BIDC 07/03/31                       | CUSIP: 59012CAL9<br>LEI: 254900765HT42I3EW691 | Long             | LON              | CORP              | US        |   1864576 | PA      | $1871568.09   | 0.63%             | 2031-07-03      | Floating      | 7.57%                 | No            |                  2 | On Loan: No      |
| Lendingtree Inc                                                        | LendingTre 08/15/30                         | CUSIP: 52602KAE8<br>LEI: 549300ISY5YHUJZTON08 | Long             | LON              | CORP              | US        |   2020000 | PA      | $2012425.00   | 0.67%             | 2030-08-14      | Floating      | 8.46%                 | No            |                  2 | On Loan: No      |
| Cyberswift US Finco, LLC                                               | NORD SE 10/08/32                            | CUSIP: 000000000<br>LEI: 9845008473F79E3H9069 | Long             | LON              | CORP              | NL        |   1000000 | PA      | $1003130.00   | 0.34%             | 2032-10-08      | Floating      | 7.94%                 | No            |                  2 | On Loan: No      |
| Pregis Topco LLC                                                       | PREGIS TOPC 01/02/29                        | CUSIP: 74045BAG2<br>LEI: 549300LJXHJYHS1GM034 | Long             | LON              | CORP              | US        |    850725 | PA      | $857296.85    | 0.29%             | 2029-02-01      | Floating      | 7.96%                 | No            |                  2 | On Loan: No      |
| Univision Communications Inc                                           | Univision Comm 01/23/29                     | CUSIP: 914908BG2<br>LEI: 549300YQDE2JSGTL8V47 | Long             | LON              | CORP              | US        |   1956616 | PA      | $1942186.19   | 0.65%             | 2029-01-31      | Floating      | 7.58%                 | No            |                  2 | On Loan: No      |
| Summer (BC) Bidco B LLC                                                | Kantar 2/24 Ext 02/05/29                    | CUSIP: 000000000<br>LEI: 984500NRF59D5DB9B654 | Long             | LON              | CORP              | LU        |   1396215 | PA      | $1328149.60   | 0.44%             | 2029-02-15      | Floating      | 9.26%                 | No            |                  2 | On Loan: No      |
| Glatfelter Corporation                                                 | Glatfelter 09/19/31                         | CUSIP: 89458XAB3<br>LEI: 549300LDQLQBT38QDY28 | Long             | LON              | CORP              | US        |   1629785 | PA      | $1545036.21   | 0.52%             | 2031-11-04      | Floating      | 8.45%                 | No            |                  2 | On Loan: No      |
| Ineos Finance PLC                                                      | Ineos US Fi 02/18/30                        | CUSIP: 000000000<br>LEI: 5493008MHJ4R367SNK31 | Long             | LON              | CORP              | US        |   1819125 | PA      | $1567012.47   | 0.52%             | 2030-02-18      | Floating      | 7.21%                 | No            |                  2 | On Loan: No      |
| Victra Holdings LLC aka LSF9 Atlantis Holdings LLC                     | LSF9 ATLANTIS HL 03/30/29                   | CUSIP: 50226BAN8<br>LEI: 549300KWDYQKQSF0MQ18 | Long             | LON              | CORP              | US        |   1827961 | PA      | $1835391.90   | 0.61%             | 2029-03-30      | Floating      | 7.75%                 | No            |                  2 | On Loan: No      |
| MRP Buyer LLC                                                          | MRP BUYE 05/24/32                           | CUSIP: 000000000<br>LEI: 254900P4JAIDEHZ3O147 | Long             | LON              | CORP              | US        |   1357258 | PA      | $1336614.16   | 0.45%             | 2032-05-24      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| AIT Worldwide Logistics Inc                                            | AIT WORLDWIDE LO 04/08/30                   | CUSIP: 00145AAE3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    476400 | PA      | $479129.77    | 0.16%             | 2030-04-08      | Floating      | 8.25%                 | No            |                  2 | On Loan: No      |
| Bayonne Energy Center, LLC                                             | BAYONNE ENERGY C 10/01/32                   | CUSIP: 07288VAF6<br>LEI: 54930011FOZUNGHGHM74 | Long             | LON              | CORP              | US        |    880000 | PA      | $883577.20    | 0.30%             | 2032-09-22      | Floating      | 6.99%                 | No            |                  2 | On Loan: No      |
| Coral US Co-Borrower LLC                                               | CORAL-US CO-BORR 01/30/32                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2070000 | PA      | $2009628.45   | 0.67%             | 2032-01-31      | Floating      | 7.15%                 | No            |                  2 | On Loan: No      |
| Finastra Usa, Inc.                                                     | FINASTRA US 07/30/32                        | CUSIP: 31772YAD8<br>LEI: 549300ZB2RO6QC7YTK71 | Long             | LON              | CORP              | US        |   1180000 | PA      | $1167881.40   | 0.39%             | 2032-09-15      | Floating      | 8.04%                 | No            |                  2 | On Loan: No      |
| Dayforce Inc                                                           | DAYFORCE INC                                | CUSIP: 23923YAB7<br>LEI: 549300T64GVCHFJ8L449 | Long             | LON              | CORP              | US        |    765000 | PA      | $763359.08    | 0.26%             | 2032-10-07      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| Inmar Inc                                                              | Inma 10/30/31                               | CUSIP: 45763FAV0<br>LEI: 549300N1ML5MXXFIDZ25 | Long             | LON              | CORP              | US        |    370039 | PA      | $368804.66    | 0.12%             | 2031-10-30      | Floating      | 8.49%                 | No            |                  2 | On Loan: No      |
| AP Core Holdings II LLC                                                | AP CORE HLDGS I 09/01/27                    | CUSIP: 00187GAC3<br>LEI: 549300PND8ZZ4RWYRZ56 | Long             | LON              | CORP              | US        |    142699 | PA      | $140246.82    | 0.05%             | 2027-09-01      | Floating      | 9.58%                 | No            |                  2 | On Loan: No      |
| Asurion                                                                | ASURIO 09/19/30                             | CUSIP: 04649VBE9<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |   2216139 | PA      | $2210144.57   | 0.74%             | 2030-09-19      | Floating      | 8.31%                 | No            |                  2 | On Loan: No      |
| Level 3 Financing Inc                                                  | LEVEL 3 Fin 03/29/32                        | CUSIP: 52729KAU0<br>LEI: 254900AE5FEFIJOXWL19 | Long             | LON              | CORP              | US        |   2210000 | PA      | $2210000.00   | 0.74%             | 2032-03-29      | Floating      | 7.21%                 | No            |                  2 | On Loan: No      |
| ARC Falcon I Inc                                                       | Arc Falcon I Inc                            | CUSIP: 03880YAC8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1500000 | PA      | $1501147.50   | 0.50%             | 2028-09-30      | Floating      | 7.56%                 | No            |                  2 | On Loan: No      |
| Turquoise Topco LTD                                                    | TORTUGA RESORTS GHD LLC                     | CUSIP: 000000000<br>LEI: 254900RI25V4FBT02P38 | Long             | LON              | CORP              | US        |   1310000 | PA      | $1295806.15   | 0.43%             | 2032-08-13      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| Third Coast Infrastructure LLC                                         | THIRD COAST INFR 09/25/30                   | CUSIP: 88412KAD4<br>LEI: 5493006R4EN78GPJ4M96 | Long             | LON              | CORP              | US        |    662487 | PA      | $663729.53    | 0.22%             | 2030-09-25      | Floating      | 7.71%                 | No            |                  2 | On Loan: No      |
| UKG Inc                                                                | UK 02/10/31                                 | CUSIP: 89841EAB1<br>LEI: 529900FKHWSTQ1GXK240 | Long             | LON              | CORP              | US        |   1634246 | PA      | $1635905.01   | 0.55%             | 2031-02-10      | Floating      | 6.34%                 | No            |                  2 | On Loan: No      |
| Alpha Generation LLC                                                   | ALPHA GENERATIO 09/30/31                    | CUSIP: 02072UAC6<br>LEI: 254900K5V62L4YGVKF49 | Long             | LON              | CORP              | US        |   1016342 | PA      | $1018765.94   | 0.34%             | 2031-09-30      | Floating      | 5.96%                 | No            |                  2 | On Loan: No      |
| Modena Buyer LLC                                                       | MODENA BUYE 07/01/31                        | CUSIP: 60753DAC8<br>LEI: 254900B0G2IU0VBDOY26 | Long             | LON              | CORP              | US        |    608850 | PA      | $596368.58    | 0.20%             | 2031-07-01      | Floating      | 8.09%                 | No            |                  2 | On Loan: No      |
| Dynamo Us Bidco Inc.                                                   | DYNAMO US BIDC 09/30/31                     | CUSIP: 26806DAC6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1487487 | PA      | $1495854.56   | 0.50%             | 2031-09-30      | Floating      | 7.36%                 | No            |                  2 | On Loan: No      |
| MaxLinear Inc                                                          | MaxLinea 06/23/28                           | CUSIP: 57776UAH8<br>LEI: 549300EMOI0SM2IY4F64 | Long             | LON              | CORP              | US        |   1201483 | PA      | $1117378.88   | 0.37%             | 2028-06-23      | Floating      | 6.34%                 | No            |                  2 | On Loan: No      |
| Goodnight Water Solutions Holdings, LLC                                | GOODNIGHT WATER 06/04/29                    | CUSIP: 38238YAC3<br>LEI: 254900CZJ6KUEVU9QV27 | Long             | LON              | CORP              | US        |   2412349 | PA      | $2391253.30   | 0.80%             | 2029-06-04      | Floating      | 7.96%                 | No            |                  2 | On Loan: No      |
| Synechron Holdings Inc                                                 | SYNECHRO 09/26/31                           | CUSIP: 87168HAE7<br>LEI: 549300MUU3E8J6UT8E60 | Long             | LON              | CORP              | US        |   1005000 | PA      | $982387.50    | 0.33%             | 2031-10-03      | Floating      | 7.89%                 | No            |                  2 | On Loan: No      |
| Sabre GLBL Inc                                                         | SABRE GLBL 12/17/27                         | CUSIP: 78571YBF6<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | LON              | CORP              | US        |    310189 | PA      | $295842.61    | 0.10%             | 2027-12-17      | Floating      | 7.58%                 | No            |                  2 | On Loan: No      |
| Vestis Corporation                                                     | VESTIS 02/22/31                             | CUSIP: 92550HAE3<br>LEI: 254900QDW0TA2TMFAP59 | Long             | LON              | CORP              | US        |   1626635 | PA      | $1549370.24   | 0.52%             | 2031-02-22      | Floating      | 6.45%                 | No            |                  2 | On Loan: No      |
| Alliance Laundry Systems LLC                                           | Alliance Laundry 08/19/31                   | CUSIP: 01862LBA5<br>LEI: 549300YBOGK6MBI5ND34 | Long             | LON              | CORP              | US        |    440964 | PA      | $442101.55    | 0.15%             | 2031-08-19      | Floating      | 6.18%                 | No            |                  2 | On Loan: No      |
| Alliance Laundry Systems LLC                                           | Alliance Laundry 08/19/31                   | CUSIP: 01862LBA5<br>LEI: 549300YBOGK6MBI5ND34 | Long             | LON              | CORP              | US        |    240964 | PA      | $241585.55    | 0.08%             | 2031-08-19      | Floating      | 6.18%                 | No            |                  2 | On Loan: No      |
| Transdigm Inc                                                          | Transdig 03/22/30                           | CUSIP: 89364MCF9<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | LON              | CORP              | US        |    877062 | PA      | $878764.00    | 0.29%             | 2030-03-22      | Floating      | 6.25%                 | No            |                  2 | On Loan: No      |
| Magnite Inc                                                            | MAGNIT 02/06/31                             | CUSIP: 55955NAG3<br>LEI: 54930018FR2YX1HHSB02 | Long             | LON              | CORP              | US        |   1415340 | PA      | $1417399.75   | 0.47%             | 2031-02-06      | Floating      | 6.96%                 | No            |                  2 | On Loan: No      |
| Domtar Corporation                                                     | DOMTAR 10/01/28                             | CUSIP: 25755FAK6<br>LEI: XYSIJOU3HNVROZWNA008 | Long             | LON              | CORP              | US        |    188605 | PA      | $144282.93    | 0.05%             | 2028-11-30      | Floating      | 9.58%                 | No            |                  3 | On Loan: No      |
| American Public Education, Inc.                                        | AMERICAN PUBLIC 10/28/27                    | CUSIP: 02914BAC0<br>LEI: 254900GZNX6TJQGM4S17 | Long             | LON              | CORP              | US        |    720000 | PA      | $714600.00    | 0.24%             | 2027-09-01      | Floating      | 9.58%                 | No            |                  2 | On Loan: No      |
| Inmar Inc                                                              | Inma 10/30/31                               | CUSIP: 45763FAV0<br>LEI: 549300N1ML5MXXFIDZ25 | Long             | LON              | CORP              | US        |    284061 | PA      | $283113.28    | 0.09%             | 2031-10-30      | Floating      | 8.49%                 | No            |                  2 | On Loan: No      |
| Digital Media Solutions Inc                                            | DIGITAL MEDIA SO 12/10/24                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     37454 | PA      | $0.00         | 0.00%             | 2026-05-25      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| SAVOR ACQUISITION INC                                                  | SAVOR ACQUISITIO 02/17/32                   | CUSIP: 80536AAC6<br>LEI: 25490051R6ZOBEBPQ519 | Long             | LON              | CORP              | US        |     68534 | PA      | $68905.60     | 0.02%             | 2032-02-19      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| Blackstone Mortgage Trust Inc                                          | Blackstone Mtg T 05/09/29                   | CUSIP: 09259GAJ2<br>LEI: 549300OLDJ20R2Y2UW20 | Long             | LON              | CORP              | US        |    200258 | PA      | $200759.01    | 0.07%             | 2029-05-09      | Floating      | 6.46%                 | No            |                  2 | On Loan: No      |
| A-Ag Us Gsi Bidco, Inc.                                                | AAG US GSI BIDC 10/08/31                    | CUSIP: 00033RAB7<br>LEI: 25490004WTN5CN5TXD48 | Long             | LON              | CORP              | US        |   1134300 | PA      | $1128628.50   | 0.38%             | 2031-10-31      | Floating      | 9.00%                 | No            |                  2 | On Loan: No      |
| Sanmina Corporation                                                    | SANMINA CORP                                | CUSIP: 000000000<br>LEI: X5K24XLM8QYRXF00EB42 | Long             | LON              | CORP              | US        |    755000 | PA      | $756887.50    | 0.25%             | 2032-10-27      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| SAVOR ACQUISITION INC                                                  | SAVOR ACQUISITIO 02/04/32                   | CUSIP: 80536AAB8<br>LEI: 25490051R6ZOBEBPQ519 | Long             | LON              | CORP              | US        |    724649 | PA      | $728573.33    | 0.24%             | 2032-02-19      | Floating      | 6.84%                 | No            |                  2 | On Loan: No      |
| Nexus Buyer LLC                                                        | NEXUS BUYE 07/31/31                         | CUSIP: 65343UAJ1<br>LEI: 254900PILSANV8WOOF24 | Long             | LON              | CORP              | US        |    750000 | PA      | $752531.25    | 0.25%             | 2031-07-31      | Floating      | 7.96%                 | No            |                  2 | On Loan: No      |
| Colossus Acquireco LLC                                                 | COLOSSUS ACQUIRE 06/30/32                   | CUSIP: 19682LAB4<br>LEI: 2549009FT92RXWA46910 | Long             | LON              | CORP              | US        |   1000000 | PA      | $996785.00    | 0.33%             | 2032-07-30      | Floating      | 5.87%                 | No            |                  2 | On Loan: No      |
| LifePoint Health Inc                                                   | LIFEPOINT H 05/16/31                        | CUSIP: 75915TAK8<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | LON              | CORP              | US        |   2672307 | PA      | $2677437.87   | 0.90%             | 2031-05-16      | Floating      | 7.72%                 | No            |                  2 | On Loan: No      |
| LifePoint Health Inc                                                   | LIFEPOINT H 05/16/31                        | CUSIP: 75915TAK8<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | LON              | CORP              | US        |      6748 | PA      | $6761.20      | 0.00%             | 2031-05-16      | Floating      | 7.72%                 | No            |                  2 | On Loan: No      |
| Talen Energy Supply LLC                                                | Talen Energy Sup 12/11/31                   | CUSIP: 87422LAY6<br>LEI: K5K33XN0PQAU1XF7NN66 | Long             | LON              | CORP              | US        |    868438 | PA      | $870882.15    | 0.29%             | 2031-12-12      | Floating      | 6.73%                 | No            |                  2 | On Loan: No      |
| Wash Multifamily Parent, Inc.                                          | WASH BIDC 09/10/32                          | CUSIP: 93710RAB2<br>LEI: 254900VX9ZQVIOW7QI08 | Long             | LON              | CORP              | US        |    840000 | PA      | $845384.40    | 0.28%             | 2032-09-10      | Floating      | 7.21%                 | No            |                  2 | On Loan: No      |
| Deep Blue Operating I LLC                                              | DEEP BLUE OPER 10/01/32                     | CUSIP: 24369TAD3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    690000 | PA      | $693022.20    | 0.23%             | 2032-10-01      | Floating      | 6.88%                 | No            |                  2 | On Loan: No      |
| Catawba Nation Gaming Authority                                        | Catawba Nation G 12/16/31                   | CUSIP: 14907EAD6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1035000 | PA      | $1059260.40   | 0.35%             | 2032-03-28      | Floating      | 8.71%                 | No            |                  2 | On Loan: No      |
| First Eagle Holdings Inc-f/k/a Arnhold and S. Bleicroeder Holdings Inc | GC FERRY ACQUISI 06/04/32                   | CUSIP: 32009UAE7<br>LEI: 549300ZKYR56QRODD510 | Long             | LON              | CORP              | US        |    357292 | PA      | $357168.39    | 0.12%             | 2032-08-16      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| Amentum Holdings LLC                                                   | Amazon Holdc 07/30/31                       | CUSIP: 02351XAB4<br>LEI: 2549009FJIBLW40CU216 | Long             | LON              | CORP              | US        |    852000 | PA      | $852852.00    | 0.29%             | 2031-09-29      | Floating      | 6.21%                 | No            |                  2 | On Loan: No      |
| First Eagle Holdings Inc-f/k/a Arnhold and S. Bleicroeder Holdings Inc | GC FERRY ACQUISI 06/04/32                   | CUSIP: 32009UAD9<br>LEI: 549300ZKYR56QRODD510 | Long             | LON              | CORP              | US        |   2092708 | PA      | $2091986.36   | 0.70%             | 2032-08-16      | Floating      | 7.71%                 | No            |                  2 | On Loan: No      |
| Clydesdale Acquisition Holdings Inc                                    | CLYDESDALE ACQUI 03/27/32                   | CUSIP: 18972FAF9<br>LEI: 254900QKSDYFR3K5YD98 | Long             | LON              | CORP              | US        |     15000 | PA      | $14984.18     | 0.01%             | 2032-04-01      | Floating      | 7.41%                 | No            |                  2 | On Loan: No      |
| Pac Dac LLC                                                            | PAC DA 10/27/30                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    700000 | PA      | $694533.00    | 0.23%             | 2030-10-28      | Floating      | 7.11%                 | No            |                  2 | On Loan: No      |
| Ion Platform Finance Us, Inc.                                          | ION PLATFORM FINANCE US                     | CUSIP: 46206RAC9<br>LEI: 213800FKHT3BRRKMCC89 | Long             | LON              | CORP              | US        |    385000 | PA      | $377781.25    | 0.13%             | 2032-09-30      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| Invenergy Thermal Operating I LLC                                      | INVENERGY THERMA 05/06/32                   | CUSIP: 000000000<br>LEI: 549300JF5R5BXJAMZL67 | Long             | LON              | CORP              | US        |    100000 | PA      | $100865.00    | 0.03%             | 2032-05-17      | Floating      | 7.73%                 | No            |                  2 | On Loan: No      |
| Inmar Inc                                                              | Inma 10/30/31                               | CUSIP: 45763FAV0<br>LEI: 549300N1ML5MXXFIDZ25 | Long             | LON              | CORP              | US        |    277529 | PA      | $276603.50    | 0.09%             | 2031-10-30      | Floating      | 8.49%                 | No            |                  2 | On Loan: No      |
| Telenet Financing USD LLC                                              | Telenet 04/30/28                            | CUSIP: 000000000<br>LEI: 213800BMPOX34U6DWN81 | Long             | LON              | CORP              | US        |   1000000 | PA      | $997055.00    | 0.33%             | 2028-04-30      | Floating      | 6.15%                 | No            |                  2 | On Loan: No      |
| Froneri International Limited                                          | FRONERI U 08/02/32                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    461851 | PA      | $462165.07    | 0.15%             | 2032-08-02      | Floating      | 6.37%                 | No            |                  2 | On Loan: No      |
| Cogeco Communications Finance (USA) LP                                 | ATLANTIC BROADBA 09/15/30                   | CUSIP: 19239BAD0<br>LEI: 549300UVJTPYOZ6XKH79 | Long             | LON              | CORP              | US        |   1177500 | PA      | $1162192.49   | 0.39%             | 2030-09-18      | Floating      | 7.21%                 | No            |                  2 | On Loan: No      |
| Schweitzer-Mauduit International Inc                                   | MATIV HOLDINGS, 04/20/28                    | CUSIP: 80854EAH1<br>LEI: 549300Z1FU4IDULG1R21 | Long             | LON              | CORP              | US        |    762389 | PA      | $758576.87    | 0.25%             | 2028-04-20      | Floating      | 7.83%                 | No            |                  2 | On Loan: No      |
| Restoration Hardware, Inc.                                             | PLASTIPAK TLB 10/20/28                      | CUSIP: 76133MAC5<br>LEI: 549300H9H1H3OC7C3H47 | Long             | LON              | CORP              | US        |   1018370 | PA      | $996943.37    | 0.33%             | 2028-10-20      | Floating      | 7.31%                 | No            |                  2 | On Loan: No      |
| Froneri International Limited                                          | FRONERI U 08/02/32                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    199436 | PA      | $199571.29    | 0.07%             | 2032-08-02      | Floating      | 6.37%                 | No            |                  2 | On Loan: No      |
| CWGS Group LLC                                                         | CWGS 05/24/28                               | CUSIP: 12670UAE7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     32737 | PA      | $32009.61     | 0.01%             | 2028-06-03      | Floating      | 6.78%                 | No            |                  2 | On Loan: No      |
| ARC Falcon I Inc                                                       | ARC FALCON 09/30/28                         | CUSIP: 03880YAC8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1000124 | PA      | $1000889.21   | 0.34%             | 2028-09-30      | Floating      | 7.56%                 | No            |                  2 | On Loan: No      |
| Quirch Foods Holdings LLC                                              | QUIRCH 10/27/27                             | CUSIP: 74880TAG1<br>LEI: 549300ZJJLQXSE7L4U02 | Long             | LON              | CORP              | US        |   1589227 | PA      | $1549249.66   | 0.52%             | 2027-10-27      | Floating      | 8.86%                 | No            |                  2 | On Loan: No      |
| Zacapa Sarl                                                            | Zacapa 03/22/29                             | CUSIP: 000000000<br>LEI: 213800VIVQIJLORBU468 | Long             | LON              | CORP              | LU        |   5021226 | PA      | $5040682.75   | 1.69%             | 2029-03-22      | Floating      | 7.75%                 | No            |                  2 | On Loan: No      |
| Hexion Holdings Corporation                                            | HEXION HLDGS 03/15/30                       | CUSIP: 42829JAB5<br>LEI: 549300LBB370MUHGLV84 | Long             | LON              | CORP              | US        |     77647 | PA      | $76239.71     | 0.03%             | 2030-03-15      | Floating      | 11.50%                | No            |                  2 | On Loan: No      |
| TripAdvisor Inc                                                        | TripAdviso 07/01/31                         | CUSIP: 89677NAE4<br>LEI: 549300XVG45PT5BART17 | Long             | LON              | CORP              | US        |   1372949 | PA      | $1331760.41   | 0.45%             | 2031-07-08      | Floating      | 6.71%                 | No            |                  2 | On Loan: No      |
| AHP Health Partners Inc                                                | AHP HEALTH PARTN 09/20/32                   | CUSIP: 00130MAL8<br>LEI: 549300QMM8MQ6SM5KX05 | Long             | LON              | CORP              | US        |    855000 | PA      | $859411.80    | 0.29%             | 2032-09-20      | Floating      | 6.31%                 | No            |                  2 | On Loan: No      |
| Nexstar Media Inc                                                      | NEXSTAR MEDI 06/28/32                       | CUSIP: 65336RBB3<br>LEI: 5493006PK6I4I2OOT688 | Long             | LON              | CORP              | US        |    743138 | PA      | $744705.52    | 0.25%             | 2032-06-28      | Floating      | 6.46%                 | No            |                  2 | On Loan: No      |
| Sabre GLBL Inc                                                         | Sabre GLB 06/30/28                          | CUSIP: 78571YBH2<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | LON              | CORP              | US        |    190995 | PA      | $178182.52    | 0.06%             | 2028-06-30      | Floating      | 8.31%                 | No            |                  2 | On Loan: No      |
| Jump Financial LLC                                                     | JUMP FIN 02/26/32                           | CUSIP: 48138UAE7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    997500 | PA      | $1001864.06   | 0.34%             | 2032-02-26      | Floating      | 7.50%                 | No            |                  2 | On Loan: No      |
| Froneri International Limited                                          | FRONERI U 08/02/32                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    268713 | PA      | $268896.05    | 0.09%             | 2032-08-02      | Floating      | 6.37%                 | No            |                  2 | On Loan: No      |
| Nielsen Consumer Inc                                                   | NIELSEN CONSUME 10/31/30                    | CUSIP: 45674PAS3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    715467 | PA      | $715466.65    | 0.24%             | 2030-10-31      | Floating      | 6.46%                 | No            |                  2 | On Loan: No      |
| Manchester Acquisition Sub LLC                                         | DRASLOVKA (MANCH 11/16/26                   | CUSIP: 000000000<br>LEI: 254900LBVLLF5B4PFE37 | Long             | LON              | CORP              | US        |    724303 | PA      | $704385.00    | 0.24%             | 2026-12-01      | Floating      | 10.07%                | No            |                  2 | On Loan: No      |
| Nielsen Consumer Inc                                                   | NIELSEN CONSUME 10/31/30                    | CUSIP: 45674PAS3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    710958 | PA      | $710958.35    | 0.24%             | 2030-10-31      | Floating      | 6.46%                 | No            |                  2 | On Loan: No      |
| Charter Communications Operating LLC                                   | Charter Comms Op 11/21/31                   | CUSIP: 16117LCE7<br>LEI: 549300TPZNMN50BJ3745 | Long             | LON              | CORP              | US        |      5525 | PA      | $5522.18      | 0.00%             | 2031-12-15      | Floating      | 6.24%                 | No            |                  2 | On Loan: No      |
| Primary Products Finance LLC                                           | Prim Prods Fi 04/01/29                      | CUSIP: 74167NAE3<br>LEI: 549300D4W5WVUVR3LC81 | Long             | LON              | CORP              | US        |    979636 | PA      | $947062.87    | 0.32%             | 2029-04-01      | Floating      | 7.19%                 | No            |                  2 | On Loan: No      |
| Lumen Technologies, Inc.                                               | LUMEN TEC 04/15/29                          | CUSIP: 55024EAF2<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | LON              | CORP              | US        |   1024763 | PA      | $1020925.48   | 0.34%             | 2029-04-15      | Floating      | 6.43%                 | No            |                  2 | On Loan: No      |
| Charter Communications Operating LLC                                   | Charter Comms Op 11/21/31                   | CUSIP: 16117LCE7<br>LEI: 549300TPZNMN50BJ3745 | Long             | LON              | CORP              | US        |   2187900 | PA      | $2186784.17   | 0.73%             | 2031-12-15      | Floating      | 6.24%                 | No            |                  2 | On Loan: No      |
| CWGS Group LLC                                                         | CWGS Group LLC                              | CUSIP: 12670UAE7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    871837 | PA      | $852473.69    | 0.29%             | 2028-06-03      | Floating      | 6.58%                 | No            |                  2 | On Loan: No      |
| Virgin Media Bristol LLC                                               | VIRGIN MEDIA BRI 02/27/31                   | CUSIP: 000000000<br>LEI: 213800IQ982XX69LE276 | Long             | LON              | CORP              | US        |   1900000 | PA      | $1863358.50   | 0.62%             | 2031-03-31      | Floating      | 7.05%                 | No            |                  2 | On Loan: No      |
| DirectV Financing LLC                                                  | DIRECTV FIN 02/15/31                        | CUSIP: 25460HAF9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    477266 | PA      | $472662.73    | 0.16%             | 2031-02-17      | Floating      | 9.34%                 | No            |                  2 | On Loan: No      |
| Hudson River Trading LLC                                               | HUDSON RIV TRADI 03/29/30                   | CUSIP: 44413EAJ7<br>LEI: 549300SMOBUC8O5UOE10 | Long             | LON              | CORP              | US        |   1550081 | PA      | $1554064.35   | 0.52%             | 2030-03-18      | Floating      | 6.78%                 | No            |                  2 | On Loan: No      |
| Bakelite US Holdco Inc                                                 | BAKELITE US HOLD 12/16/31                   | CUSIP: 05710LAD5<br>LEI: 549300UCYL2XSFT5Y041 | Long             | LON              | CORP              | US        |   1751762 | PA      | $1693376.26   | 0.57%             | 2031-12-23      | Floating      | 7.75%                 | No            |                  2 | On Loan: No      |
| Venga Finance SARL                                                     | Venga Fin 06/28/29                          | CUSIP: 000000000<br>LEI: 9845005B0E54C498F641 | Long             | LON              | CORP              | LU        |   1960855 | PA      | $1963796.60   | 0.66%             | 2029-06-28      | Floating      | 8.21%                 | No            |                  2 | On Loan: No      |
| DRW Holdings LLC                                                       | DRW HLDG 06/17/31                           | CUSIP: 23343HAE0<br>LEI: 549300W696CUHX8SLK40 | Long             | LON              | CORP              | US        |   1965150 | PA      | $1930759.88   | 0.65%             | 2031-06-26      | Floating      | 7.50%                 | No            |                  2 | On Loan: No      |
| Lumen Technologies, Inc.                                               | LUMEN TEC 04/15/30                          | CUSIP: 55024EAG0<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | LON              | CORP              | US        |    540771 | PA      | $538794.25    | 0.18%             | 2030-04-15      | Floating      | 6.43%                 | No            |                  2 | On Loan: No      |
| Apollo Commercial Real Estate Finance Inc                              | Apollo Coml Real 06/05/30                   | CUSIP: 03768DAE7<br>LEI: 549300E0AN7M2AQHSY29 | Long             | LON              | CORP              | US        |   1187025 | PA      | $1193334.04   | 0.40%             | 2030-06-13      | Floating      | 7.28%                 | No            |                  2 | On Loan: No      |
| West Deptford Energy Holdings                                          | WEST DEPTFORD EN 07/24/32                   | CUSIP: 95249CAF1<br>LEI: 549300HOEW2V8L64EU07 | Long             | LON              | CORP              | US        |    847875 | PA      | $843635.63    | 0.28%             | 2032-07-23      | Floating      | 7.96%                 | No            |                  2 | On Loan: No      |
| MRP Buyer LLC                                                          | MRP BUYE 05/24/32                           | CUSIP: 000000000<br>LEI: 254900P4JAIDEHZ3O147 | Long             | LON              | CORP              | US        |    172742 | PA      | $170114.54    | 0.06%             | 2032-06-04      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| Kingpin Intermediate Holdings LLC                                      | KINGPIN INTER HL 09/22/32                   | CUSIP: 49579GAJ1<br>LEI: 549300HRZOJTMNZCST05 | Long             | LON              | CORP              | US        |    895000 | PA      | $871134.83    | 0.29%             | 2032-09-22      | Floating      | 7.21%                 | No            |                  2 | On Loan: No      |
| Altice France SA                                                       | NUMERICABLE U 05/31/31                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    401468 | PA      | $401110.88    | 0.13%             | 2031-05-30      | Floating      | 10.86%                | No            |                  2 | On Loan: No      |
| Oxbow Carbon LLC                                                       | OXBOW CARBO 05/10/30                        | CUSIP: 69138EBE8<br>LEI: IH5EFCAY91O8SVS0VX92 | Long             | LON              | CORP              | US        |    880831 | PA      | $880835.59    | 0.30%             | 2030-05-10      | Floating      | 7.46%                 | No            |                  2 | On Loan: No      |
| Wasserman Media Group, LLC                                             | WASSERMAN MEDIA 06/11/32                    | CUSIP: 94105CAL4<br>LEI: 549300F1FIWM51N74V39 | Long             | LON              | CORP              | US        |    670000 | PA      | $674187.50    | 0.23%             | 2032-06-23      | Floating      | 6.99%                 | No            |                  2 | On Loan: No      |
| Oxbow Carbon LLC                                                       | OXBOW CARBO 05/10/30                        | CUSIP: 69138EBE8<br>LEI: IH5EFCAY91O8SVS0VX92 | Long             | LON              | CORP              | US        |   1040791 | PA      | $1040795.97   | 0.35%             | 2030-05-10      | Floating      | 7.46%                 | No            |                  2 | On Loan: No      |
| Ahlstrom Holding 3 Oy fka Spa Holdings 3                               | AhlstromMunksjo 02/04/28                    | CUSIP: 000000000<br>LEI: 254900HXD0I72WZYIT06 | Long             | LON              | CORP              | US        |     37931 | PA      | $38112.22     | 0.01%             | 2028-02-04      | Floating      | 8.26%                 | No            |                  2 | On Loan: No      |
| EOC Borrower LLC                                                       | ENDEAVOR GROUP H 01/27/32                   | CUSIP: 26875YAB8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1411462 | PA      | $1420580.55   | 0.48%             | 2032-03-24      | Floating      | 6.96%                 | No            |                  2 | On Loan: No      |
| Ahlstrom Holding 3 Oy fka Spa Holdings 3                               | Spa US HoldCo Inc                           | CUSIP: 000000000<br>LEI: 254900HXD0I72WZYIT06 | Long             | LON              | CORP              | US        |   1240648 | PA      | $1246591.10   | 0.42%             | 2028-02-04      | Floating      | 8.26%                 | No            |                  2 | On Loan: No      |
| Foley Products Company, LLC                                            | FOLEY PRODUCTS C 12/29/28                   | CUSIP: 34430DAC4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    465832 | PA      | $468014.88    | 0.16%             | 2029-12-31      | Floating      | 8.90%                 | No            |                  2 | On Loan: No      |
| TMS INTERNATIONAL CORP                                                 | TMS International Corp/DE                   | CUSIP: 87261QAC7<br>LEI: 549300L4K0F1YF8WKF23 | Long             | DBT              | CORP              | US        |    560000 | PA      | $550323.59    | 0.18%             | 2029-04-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Brookfield Property Reit Inc                                           | BROOKFIELD PPTYS 05/28/30                   | CUSIP: 11283HAG2<br>LEI: 549300K1JD1LDRNBET48 | Long             | LON              | CORP              | US        |    882788 | PA      | $887753.18    | 0.30%             | 2030-05-28      | Floating      | 7.46%                 | No            |                  2 | On Loan: No      |
| St. Georges University Scholastic Services LLC                         | Univ Support Ser 02/10/29                   | CUSIP: 78957LAF9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     72622 | PA      | $71287.46     | 0.02%             | 2029-02-10      | Floating      | 6.71%                 | No            |                  2 | On Loan: No      |
| ABG Intermediate Holdings 2 LLC                                        | ABG INTER HLDGS 12/21/28                    | CUSIP: 00076VBL3<br>LEI: 54930020NXD0RJB64985 | Long             | LON              | CORP              | US        |   1646599 | PA      | $1647784.08   | 0.55%             | 2028-12-21      | Floating      | 6.21%                 | No            |                  2 | On Loan: No      |
| St. Georges University Scholastic Services LLC                         | Univ Support Ser 02/10/29                   | CUSIP: 78957LAF9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    290488 | PA      | $285149.90    | 0.10%             | 2029-02-10      | Floating      | 6.71%                 | No            |                  2 | On Loan: No      |
| St. Georges University Scholastic Services LLC                         | Univ Support Ser 02/10/29                   | CUSIP: 78957LAF9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2052905 | PA      | $2015182.64   | 0.68%             | 2029-02-10      | Floating      | 6.71%                 | No            |                  2 | On Loan: No      |
| MKS Instruments Inc                                                    | MKS Instr 08/17/29                          | CUSIP: 55314NAZ7<br>LEI: 549300KEQATBHAGVF505 | Long             | LON              | CORP              | US        |   1454201 | PA      | $1459268.47   | 0.49%             | 2029-08-17      | Floating      | 5.98%                 | No            |                  2 | On Loan: No      |
| Par Petroleum LLC                                                      | PAR PETROLEU 04/30/24                       | CUSIP: 69889PAE5<br>LEI: 984500CCF05C2FB39F45 | Long             | LON              | CORP              | US        |   1341568 | PA      | $1345760.61   | 0.45%             | 2030-02-28      | Floating      | 7.69%                 | No            |                  2 | On Loan: No      |
| AP Core Holdings II LLC                                                | YAHOO (VERIZON M 09/01/27                   | CUSIP: 00187GAD1<br>LEI: 549300PND8ZZ4RWYRZ56 | Long             | LON              | CORP              | US        |   2065000 | PA      | $2024216.25   | 0.68%             | 2027-09-01      | Floating      | 9.58%                 | No            |                  2 | On Loan: No      |
| Perforce Software Inc                                                  | PERFORCE SOFTWAR 07/02/29                   | CUSIP: 71376GAK7<br>LEI: 549300322GBMUSL1VG17 | Long             | LON              | CORP              | US        |    494951 | PA      | $443555.21    | 0.15%             | 2029-07-02      | Floating      | 8.71%                 | No            |                  2 | On Loan: No      |
| Nexus Buyer LLC                                                        | NEXUS BUYER LLC                             | CUSIP: 65343UAH5<br>LEI: 254900PILSANV8WOOF24 | Long             | LON              | CORP              | US        |    223941 | PA      | $222789.95    | 0.07%             | 2031-07-31      | Floating      | 7.46%                 | No            |                  2 | On Loan: No      |
| Dynasty Acquisition Co Inc                                             | DYNASTY ACQUISIT 10/31/31                   | CUSIP: 26812CAN6<br>LEI: 549300L1RCRPOAUCB870 | Long             | LON              | CORP              | US        |    744177 | PA      | $746267.65    | 0.25%             | 2031-10-31      | Floating      | 5.96%                 | No            |                  2 | On Loan: No      |
| Blackstone Mortgage Trust Inc                                          | Blackstone Mtg T 12/10/30                   | CUSIP: 09259GAH6<br>LEI: 549300OLDJ20R2Y2UW20 | Long             | LON              | CORP              | US        |    766155 | PA      | $770303.55    | 0.26%             | 2030-12-10      | Floating      | 6.96%                 | No            |                  2 | On Loan: No      |
| Talen Energy Supply LLC                                                | Talen Energy Sup 05/17/30                   | CUSIP: 87422LAV2<br>LEI: K5K33XN0PQAU1XF7NN66 | Long             | LON              | CORP              | US        |    269976 | PA      | $270632.20    | 0.09%             | 2030-05-17      | Floating      | 6.73%                 | No            |                  2 | On Loan: No      |
| COREWEAVE INC                                                          | CoreWeave Inc                               | CUSIP: 21873SAB4<br>LEI: 984500511DP2B6186053 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1011101.00   | 0.34%             | 2030-06-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| Franklin Square Holdings LP                                            | FB INCOME ADVISOR LLC                       | CUSIP: 30259HAG2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    997475 | PA      | $996227.91    | 0.33%             | 2031-04-25      | Floating      | 6.21%                 | No            |                  2 | On Loan: No      |
| Transdigm                                                              | Transdig 08/19/32                           | CUSIP: 89364MCE2<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | LON              | CORP              | US        |    945000 | PA      | $946389.15    | 0.32%             | 2032-08-13      | Floating      | 6.50%                 | No            |                  2 | On Loan: No      |
| Churchill Middle Market CLO Lt                                         | Churchill Middle Market CLO V LLC           | CUSIP: 17151TAJ6<br>LEI: 254900BT15WLD40RHS41 | Long             | ABS-CBDO         | CORP              | US        |    500000 | PA      | $491874.50    | 0.16%             | 2037-04-25      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| DirectV Financing LLC                                                  | DIRECTV FIN 08/02/29                        | CUSIP: 25460HAD4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    925824 | PA      | $928527.59    | 0.31%             | 2029-08-02      | Floating      | 9.35%                 | No            |                  2 | On Loan: No      |
| Dynasty Acquisition Co Inc                                             | DYNASTY ACQUISIT 10/31/31                   | CUSIP: 26812CAP1<br>LEI: 549300L1RCRPOAUCB870 | Long             | LON              | CORP              | US        |    283061 | PA      | $283856.39    | 0.10%             | 2031-10-31      | Floating      | 5.96%                 | No            |                  2 | On Loan: No      |
| Rand Parent LLC                                                        | RAND PAREN 03/18/30                         | CUSIP: 75223LAD8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1779697 | PA      | $1750037.92   | 0.59%             | 2030-03-18      | Floating      | 7.00%                 | No            |                  2 | On Loan: No      |
| FNZ Group Entities Limited                                             | FNZ GROUP ENTITI 11/05/31                   | CUSIP: 30339HAD3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1228825 | PA      | $984903.24    | 0.33%             | 2031-11-05      | Floating      | 9.32%                 | No            |                  2 | On Loan: No      |
| ARC Falcon I Inc                                                       | ARC FALCON 09/30/29                         | CUSIP: 03880YAF1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1380000 | PA      | $1378557.90   | 0.46%             | 2029-09-30      | Floating      | 11.06%                | No            |                  2 | On Loan: No      |
| Ahlstrom Holding 3 Oy fka Spa Holdings 3                               | AhlstromMunksjo 05/23/30                    | CUSIP: 78475BAB3<br>LEI: 743700UEY0YM039XN974 | Long             | LON              | CORP              | FI        |    304238 | PA      | $306281.98    | 0.10%             | 2030-05-22      | Floating      | 8.51%                 | No            |                  2 | On Loan: No      |
| Hexion Holdings Corporation                                            | HEXION HLDGS 03/15/29                       | CUSIP: 00217XAE6<br>LEI: 549300LBB370MUHGLV84 | Long             | LON              | CORP              | US        |    197709 | PA      | $194390.09    | 0.07%             | 2029-03-15      | Floating      | 8.03%                 | No            |                  2 | On Loan: No      |
| Transnetwork LLC                                                       | TRANSNETWOR 12/29/30                        | CUSIP: 000000000<br>LEI: 549300QF18JL5NEFRT47 | Long             | LON              | CORP              | US        |    994937 | PA      | $987474.69    | 0.33%             | 2030-12-29      | Floating      | 8.75%                 | No            |                  2 | On Loan: No      |
| MOUNTAIN VIEW CLO                                                      | Mountain View CLO XVII Ltd                  | CUSIP: 62431QAY7<br>LEI: 2549000TWLB57V29ZR37 | Long             | ABS-CBDO         | CORP              | KY        |   1190000 | PA      | $1192828.63   | 0.40%             | 2038-10-15      | Floating      | 8.47%                 | No            |                  2 | On Loan: No      |
| VM Consolidated Inc                                                    | VM CONSOLIDATE 10/01/32                     | CUSIP: 00215NAP5<br>LEI: 549300GCTGJLEBXJUK89 | Long             | LON              | CORP              | US        |    764313 | PA      | $768611.81    | 0.26%             | 2032-10-01      | Floating      | 5.96%                 | No            |                  2 | On Loan: No      |
| Thryv Inc                                                              | Thry 05/01/29                               | CUSIP: 88602GAF8<br>LEI: 254900W0Q0EQ1QHCLN20 | Long             | LON              | CORP              | US        |     94500 | PA      | $94913.91     | 0.03%             | 2029-05-01      | Floating      | 10.71%                | No            |                  2 | On Loan: No      |
| Cloud Software Group Inc                                               | CLOUD SOFTWARE G 03/21/31                   | CUSIP: 88632NBK5<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | LON              | CORP              | US        |      4324 | PA      | $4329.30      | 0.00%             | 2031-03-21      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| Lc Ahab Us Bidco LLC                                                   | LC AHAB US BIDC 05/01/31                    | CUSIP: 50180PAB7<br>LEI: 254900949U9K2Q5C5A85 | Long             | LON              | CORP              | US        |    992481 | PA      | $996202.99    | 0.33%             | 2031-05-01      | Floating      | 6.96%                 | No            |                  2 | On Loan: No      |
| Peer Holding III BV                                                    | Peer Hldg I 09/29/32                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1100000 | PA      | $1102062.50   | 0.37%             | 2032-09-29      | Floating      | 6.19%                 | No            |                  2 | On Loan: No      |
| EMERGENT BIOSOLUTIONS                                                  | Emergent BioSolutions Inc                   | CUSIP: 29089QAC9<br>LEI: 549300YW6TUOX8BE5103 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1771850.80   | 0.59%             | 2028-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Superannuation and Investments US LLC                                  | SUPERANNUATION I 12/01/28                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    669433 | PA      | $673616.83    | 0.23%             | 2028-12-01      | Floating      | 6.96%                 | No            |                  2 | On Loan: No      |
| BREAD FINANCIAL HLDGS                                                  | Bread Financial Holdings Inc                | CUSIP: 018581AR9<br>LEI: 549300G8S4PO686J7H97 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1008092.04   | 0.34%             | 2031-05-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Lsf11 Trinity Bidco, Inc.                                              | LSF11 TRINITY BI 06/14/30                   | CUSIP: 50221BAG8<br>LEI: 2549000M6VOEWVW5JU51 | Long             | LON              | CORP              | US        |   1508373 | PA      | $1513086.30   | 0.51%             | 2030-06-14      | Floating      | 6.52%                 | No            |                  2 | On Loan: No      |
| Team Services Group LLC                                                | TEAM SERVICES GR 12/20/27                   | CUSIP: 87821EAG8<br>LEI: 2549000UQACQVCO13Y82 | Long             | LON              | CORP              | US        |    481362 | PA      | $480859.48    | 0.16%             | 2027-12-20      | Floating      | 9.09%                 | No            |                  2 | On Loan: No      |
| Clue Opco LLC                                                          | FORWARD AIR (CLU 09/20/30                   | CUSIP: 18948EAC0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    808822 | PA      | $788265.99    | 0.26%             | 2030-12-19      | Floating      | 8.34%                 | No            |                  2 | On Loan: No      |
| Potomac Energy Center, LLC                                             | Potomac Energy C 03/14/32                   | CUSIP: 000000000<br>LEI: 549300BHYFK6M9HVNA29 | Long             | LON              | CORP              | US        |   1250000 | PA      | $1257812.50   | 0.42%             | 2032-08-05      | Floating      | 6.84%                 | No            |                  2 | On Loan: No      |
| CPPIB OVM Member U.S. LLC                                              | CPPIB OVM MEMBER 08/20/31                   | CUSIP: 12673CAB0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    897020 | PA      | $899984.48    | 0.30%             | 2031-08-20      | Floating      | 6.50%                 | No            |                  2 | On Loan: No      |
| Virgin Media Bristol LLC                                               | Virgin Media Bristol LLC                    | CUSIP: 000000000<br>LEI: 213800IQ982XX69LE276 | Long             | LON              | CORP              | US        |     14810 | PA      | $14821.49     | 0.00%             | 2028-01-31      | Floating      | 6.65%                 | No            |                  2 | On Loan: No      |
| Red Planet Borrower LLC                                                | RED PLANET BORRO 08/07/25                   | CUSIP: 57165KAE6<br>LEI: 254900LGTHBRY5NA0C90 | Long             | LON              | CORP              | US        |   1595000 | PA      | $1573730.68   | 0.53%             | 2032-09-08      | Floating      | 7.96%                 | No            |                  2 | On Loan: No      |
| Covia Holdings Corporation                                             | Covia Hldg 02/26/32                         | CUSIP: 22305CAF6<br>LEI: 213800IE4YGTGVTQ1806 | Long             | LON              | CORP              | US        |    638400 | PA      | $640695.05    | 0.21%             | 2032-02-26      | Floating      | 6.71%                 | No            |                  2 | On Loan: No      |
| Ineos Styrolution US Holding LLC                                       | INEOS Styrolutio 01/29/27                   | CUSIP: 45673NAE0<br>LEI: 529900Z6N7K4QRHSOT95 | Long             | LON              | CORP              | US        |   1931945 | PA      | $1857884.03   | 0.62%             | 2027-01-29      | Floating      | 6.06%                 | No            |                  2 | On Loan: No      |
| Allwyn Entertainment Financing (Us) LLC                                | ALLWYN ENTMT FIN 06/02/31                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1027879 | PA      | $1016315.13   | 0.34%             | 2031-06-02      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| Sitel Group                                                            | SITEL GROUP 07/27/28                        | CUSIP: 82981MAC6<br>LEI: 5493007DS8CM3ZGION43 | Long             | LON              | CORP              | US        |    491049 | PA      | $232020.47    | 0.08%             | 2028-08-28      | Floating      | 7.83%                 | No            |                  2 | On Loan: No      |
| MOUNTAIN VIEW CLO                                                      | Mountain View CLO XVI Ltd                   | CUSIP: 62432TAE4<br>LEI: 549300MWKXOHYV7Z8O91 | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $502214.00    | 0.17%             | 2034-04-15      | Floating      | 11.23%                | No            |                  3 | On Loan: No      |
| Verde Purchaser, LLC                                                   | VERDE PURC 11/30/30                         | CUSIP: 92338TAB2<br>LEI: 5493004G8OK5L1UTIY12 | Long             | LON              | CORP              | US        |    975944 | PA      | $939877.56    | 0.31%             | 2030-11-30      | Floating      | 8.00%                 | No            |                  2 | On Loan: No      |
| Connect US Finco LLC                                                   | PLASTIPAK TLB 04/30/24                      | CUSIP: 000000000<br>LEI: 2594001KNYIQ456J2792 | Long             | LON              | CORP              | LU        |   2085360 | PA      | $2079426.84   | 0.70%             | 2029-09-27      | Floating      | 8.46%                 | No            |                  2 | On Loan: No      |
| Pitney Bowes Inc                                                       | Pitney Bowe 01/31/32                        | CUSIP: 72448FAW5<br>LEI: 549300N2O26NW4ST6W55 | Long             | LON              | CORP              | US        |   1994975 | PA      | $1995603.42   | 0.67%             | 2032-03-19      | Floating      | 7.71%                 | No            |                  2 | On Loan: No      |
| GBT US III LLC                                                         | GBT US II 07/28/31                          | CUSIP: 36154HAC4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    754300 | PA      | $756400.73    | 0.25%             | 2031-07-25      | Floating      | 6.36%                 | No            |                  2 | On Loan: No      |
| Crown Equipment Corporation                                            | CROWN EQUIP 10/10/31                        | CUSIP: 22834HAL2<br>LEI: V22E9B3P7BX1W5NNT053 | Long             | LON              | CORP              | US        |    889444 | PA      | $895007.65    | 0.30%             | 2031-10-10      | Floating      | 6.05%                 | No            |                  2 | On Loan: No      |
| Restoration Hardware, Inc.                                             | Restoration Hard 10/20/28                   | CUSIP: 76133MAB7<br>LEI: 549300H9H1H3OC7C3H47 | Long             | LON              | CORP              | US        |    308833 | PA      | $300662.88    | 0.10%             | 2028-10-20      | Floating      | 6.58%                 | No            |                  2 | On Loan: No      |
| Creation Technologies Inc                                              | CREATION TECHNOL 09/14/28                   | CUSIP: 22526YAB0<br>LEI: N/A                  | Long             | LON              | CORP              | CA        |   1326814 | PA      | $1325155.86   | 0.44%             | 2028-10-05      | Floating      | 9.70%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE SA                                                       | ALTICE FRANCE SA                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2359 | NS      | $39576.35     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Emg Utica Midstream Holdings LLC                                       | EMG UTICA MIDSTR 10/24/29                   | CUSIP: 26869HAB3<br>LEI: 254900H5HLPM7ZD1LU54 | Long             | LON              | CORP              | US        |    881189 | PA      | $888899.13    | 0.30%             | 2030-04-01      | Floating      | 8.00%                 | No            |                  2 | On Loan: No      |
| Crown Subsea Communications Holding Inc                                | Crown Subsea Com 01/30/31                   | CUSIP: 22860EAK8<br>LEI: 5493003AYLUE132FIO27 | Long             | LON              | CORP              | US        |    891000 | PA      | $897682.50    | 0.30%             | 2031-01-30      | Floating      | 7.46%                 | No            |                  2 | On Loan: No      |
| Lsf12 Crown Us Commercial Bidco, LLC                                   | LSF12 CROWN US C 12/02/31                   | CUSIP: 50221UAD3<br>LEI: 254900FI2OCFTJ9PAJ18 | Long             | LON              | CORP              | US        |    768075 | PA      | $773593.62    | 0.26%             | 2031-12-02      | Floating      | 7.66%                 | No            |                  2 | On Loan: No      |
| Leia Finco US LLC                                                      | DARKTRAC 07/02/31                           | CUSIP: 52526CAB5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1308425 | PA      | $1312925.98   | 0.44%             | 2031-10-09      | Floating      | 7.19%                 | No            |                  2 | On Loan: No      |
| DMS Purchaser LLC                                                      | DMS PURCHASE 02/28/30                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    176434 | PA      | $177862.85    | 0.06%             | 2030-02-28      | Floating      | 11.56%                | No            |                  3 | On Loan: No      |
| Altice Financing SA                                                    | ALTICE FINANCING 10/31/27                   | CUSIP: 000000000<br>LEI: 549300DIYGW8HVDF7Q17 | Long             | LON              | CORP              | LU        |   2650701 | PA      | $2106207.23   | 0.71%             | 2027-10-31      | Floating      | 8.90%                 | No            |                  2 | On Loan: No      |
| Golden State Foods LLC                                                 | GOLDEN ST FOOD 10/07/31                     | CUSIP: 38121NAC7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    990025 | PA      | $995009.66    | 0.33%             | 2031-12-04      | Floating      | 8.00%                 | No            |                  2 | On Loan: No      |
| Cloud Software Group Inc                                               | CLOUD SOFTWARE G 03/21/31                   | CUSIP: 88632NBK5<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | LON              | CORP              | US        |   1725094 | PA      | $1727387.99   | 0.58%             | 2031-03-21      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| Peer Holding III BV                                                    | Peer Hldg I 07/01/31                        | CUSIP: 000000000<br>LEI: 7245002S0K5Q59JCVQ03 | Long             | LON              | CORP              | NL        |    679862 | PA      | $683516.76    | 0.23%             | 2031-07-01      | Floating      | 6.50%                 | No            |                  2 | On Loan: No      |
| GRAY MEDIA INC                                                         | Gray Media Inc                              | CUSIP: 389375AL0<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |    300000 | PA      | $213684.67    | 0.07%             | 2030-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Lippert Components Inc                                                 | Lippert CoL 03/25/32                        | CUSIP: 53631HAG3<br>LEI: 549300E1B98YNJ1WIQ04 | Long             | LON              | CORP              | US        |    800980 | PA      | $805986.16    | 0.27%             | 2032-03-25      | Floating      | 6.21%                 | No            |                  2 | On Loan: No      |
| Sabre GLBL Inc                                                         | SABRE GLBL 12/17/27                         | CUSIP: 78571YBG4<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | LON              | CORP              | US        |    463183 | PA      | $441761.23    | 0.15%             | 2027-12-17      | Floating      | 7.58%                 | No            |                  2 | On Loan: No      |
| OWENS-ILLINOIS GENERAL INC                                             | Owens Brockway G 09/30/32                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    680000 | PA      | $679714.40    | 0.23%             | 2032-09-30      | Floating      | 6.84%                 | No            |                  2 | On Loan: No      |
| Sabre GLBL Inc                                                         | SABRE GLBL INC 06/30/28                     | CUSIP: 78571YBJ8<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | LON              | CORP              | US        |    795786 | PA      | $739750.65    | 0.25%             | 2028-06-30      | Floating      | 9.06%                 | No            |                  2 | On Loan: No      |
| Apex Group Treasury Limited                                            | APEX GROUP TREAS 02/19/32                   | CUSIP: 000000000<br>LEI: 254900N6HRPDDNW7HP03 | Long             | LON              | CORP              | US        |   1159574 | PA      | $1087825.36   | 0.36%             | 2032-02-27      | Floating      | 7.75%                 | No            |                  2 | On Loan: No      |
| CFC Bidco 2022 Limited                                                 | CFC USA 2025 LLC                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    870000 | PA      | $852600.00    | 0.29%             | 2032-07-01      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| Fr Br Holdings, L.L.C.                                                 | FR BR HLDG 10/09/30                         | CUSIP: 30260XAD1<br>LEI: 549300FJFG2CK1VX3Y85 | Long             | LON              | CORP              | US        |    710000 | PA      | $708225.00    | 0.24%             | 2030-10-09      | Floating      | 8.19%                 | No            |                  2 | On Loan: No      |
| Cengage Learning Inc                                                   | CENGAGE LEARNIN 03/22/24                    | CUSIP: 15131YAQ8<br>LEI: 549300BYGM0FWUSVXJ88 | Long             | LON              | CORP              | US        |    256598 | PA      | $253632.09    | 0.08%             | 2031-03-22      | Floating      | 7.48%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-12-30

**Name of Applicant:** Virtus ETF Trust II

**Signature:** Brinton W. Frith

**Name of Signer:** Brinton W. Frith

**Title:** Treasurer and Principal Financial Officer