# EDGAR Filing Document

**Accession Number:** 0000811030
**File Stem:** 0001145549-25-052718
**Filing Date:** 2025-8
**Character Count:** 99601
**Document Hash:** 538b03b83bfbf2cff609f6f276bacb95
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-25-052718.hdr.sgml**: 20250822

**ACCESSION NUMBER**: 0001145549-25-052718

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250822

**DATE AS OF CHANGE**: 20250822

**PERIOD START**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PROFESSIONALLY MANAGED PORTFOLIOS
- **CENTRAL INDEX KEY:** 0000811030

**ORGANIZATION NAME:**
- **EIN:** 566415270
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05037
- **FILM NUMBER:** 251246609

**BUSINESS ADDRESS:**
- **STREET 1:** 615 EAST MICHIGAN STREET
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202
- **BUSINESS PHONE:** 414-218-3770

**MAIL ADDRESS:**
- **STREET 1:** 615 EAST MICHIGAN STREET
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AVONDALE INVESTMENT TRUST
- **DATE OF NAME CHANGE:** 19910529

## Series and Classes Contracts Data

### Osterweis Growth & Income Fund (Series ID: S000029833)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000091752 | Investor Class | OSTVX           |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Osterweis Growth & Income Fund** | **Osterweis Growth & Income Fund** | **Osterweis Growth & Income Fund** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **June 30, 2025 (Unaudited)** | **June 30, 2025 (Unaudited)** | **June 30, 2025 (Unaudited)** |
| **COMMON STOCKS - 59.4%** | **Shares** | **Value**  |
| **Aerospace & Defense - 5.1%** | **Aerospace & Defense - 5.1%** | |
| Airbus SE - ADR | 64305 | $3367010 |
| L3Harris Technologies, Inc. | 17168 | 4306421 |
| The Boeing Co. <sup>(a)</sup> | 7475 | 1566237 |
|  |  | 9239668 |
| **Banks - 2.0%** | **Banks - 2.0%** |  |
| JPMorgan Chase & Co. | 12790 | 3707949 |
| **Broadline Retail - 3.5%** | **Broadline Retail - 3.5%** |  |
| Amazon.com, Inc. <sup>(a)</sup> | 28967 | 6355070 |
| **Chemicals - 3.2%** | **Chemicals - 3.2%** |  |
| Air Products & Chemicals, Inc. | 13035 | 3676652 |
| Linde PLC | 4460 | 2092543 |
|  |  | 5769195 |
| **Commercial Services & Supplies - 1.9%** | **Commercial Services & Supplies - 1.9%** |  |
| Waste Connections, Inc. | 19050 | 3557016 |
| **Consumer Staples Distribution & Retail - 0.0%<sup>(b)</sup>** | **Consumer Staples Distribution & Retail - 0.0%<sup>(b)</sup>** |  |
| Southeastern Grocers, Inc. <sup>(a)(c)</sup> | 7928 | 318 |
| Tops Holding, Litigation Trust Proceeds <sup>(a)(c)</sup> | 2292000 | 1721 |
|  |  | 2039 |
| **Electrical Equipment - 1.3%** | **Electrical Equipment - 1.3%** |  |
| AMETEK, Inc. | 13120 | 2374195 |
| **Electronic Equipment, Instruments & Components - 0.9%** | **Electronic Equipment, Instruments & Components - 0.9%** |  |
| Keysight Technologies, Inc. <sup>(a)</sup> | 10215 | 1673830 |
| **Financial Services - 2.6%** | **Financial Services - 2.6%** |  |
| Visa, Inc. - Class A | 13170 | 4676008 |
| **Ground Transportation - 0.9%** | **Ground Transportation - 0.9%** |  |
| Old Dominion Freight Line, Inc. | 9854 | 1599304 |
| **Health Care Providers & Services - 1.0%** | **Health Care Providers & Services - 1.0%** |  |
| Labcorp Holdings, Inc. | 6975 | 1831007 |
| **Insurance - 3.5%** | **Insurance - 3.5%** |  |
| Brown & Brown, Inc. | 28365 | 3144827 |
| The Progressive Corp. | 11858 | 3164426 |
|  |  | 6309253 |
| **Interactive Media & Services - 3.9%** | **Interactive Media & Services - 3.9%** |  |
| Alphabet, Inc. - Class C | 39915 | 7080522 |
| **IT Services - 1.2%** | **IT Services - 1.2%** |  |
| Accenture PLC - Class A | 7384 | 2207004 |
| **Life Sciences Tools & Services - 2.4%** | **Life Sciences Tools & Services - 2.4%** |  |
| Danaher Corp. | 21807 | 4307755 |
| **Machinery - 1.0%** | **Machinery - 1.0%** |  |
| Deere & Co. | 3730 | 1896668 |
| **Metals & Mining - 0.3%** | **Metals & Mining - 0.3%** |  |
| Real Alloy Equity <sup>(a)(c)</sup> | 9 | 582173 |
| <br> **Pharmaceuticals - 1.6%** | <br> **Pharmaceuticals - 1.6%** |  |
| Novartis AG - ADR | 24480 | 2962325 |
| **Semiconductors & Semiconductor Equipment - 7.5%** | **Semiconductors & Semiconductor Equipment - 7.5%** |  |
| Analog Devices, Inc. | 13773 | 3278250 |
| Applied Materials, Inc. | 17390 | 3183587 |
| Broadcom, Inc. | 19635 | 5412388 |
| NVIDIA Corp. | 11700 | 1848483 |
|  |  | 13722708 |
| **Software - 9.6%** | **Software - 9.6%** |  |
| Intuit, Inc. | 3799 | 2992206 |
| Microsoft Corp. | 20214 | 10054646 |
| Salesforce, Inc. | 8816 | 2404035 |
| Synopsys, Inc. <sup>(a)</sup> | 4068 | 2085582 |
|  |  | 17536469 |
| **Specialty Retail - 2.0%** | **Specialty Retail - 2.0%** |  |
| AutoZone, Inc. <sup>(a)</sup> | 979 | 3634273 |
| **Trading Companies & Distributors - 1.8%** | **Trading Companies & Distributors - 1.8%** |  |
| Ferguson Enterprises, Inc. | 14670 | 3194392 |
| **Water Utilities - 2.2%** | **Water Utilities - 2.2%** |  |
| American Water Works Co., Inc. | 28680 | 3989675 |
| **TOTAL COMMON STOCKS** (Cost $67,859,961) | **TOTAL COMMON STOCKS** (Cost $67,859,961) | 108208498 |
| **CORPORATE BONDS - 30.0%** | **Par** | **Value** |
| **Aerospace & Defense - 0.3%** | **Aerospace & Defense - 0.3%** | **Aerospace & Defense - 0.3%** |
|  Rolls-Royce PLC, 3.63%, 10/14/2025 <sup>(d)</sup> | 572000 | 571230 |
| **Automobile Components - 1.7%** | **Automobile Components - 1.7%** | **Automobile Components - 1.7%** |
| Adient Global Holdings Ltd. | Adient Global Holdings Ltd. | Adient Global Holdings Ltd. |
| &nbsp;&nbsp; 7.00%, 04/15/2028 <sup>(d)</sup> | 350000 | 361048 |
| &nbsp;&nbsp; 7.50%, 02/15/2033 <sup>(d)</sup> | 400000 | 409391 |
|  American Axle & Manufacturing, Inc., 6.50%, 04/01/2027 | 750000 | 750309 |
|  Real Hero Merger Sub 2, Inc., 6.25%, 02/01/2029 <sup>(d)</sup> | 600000 | 434627 |
| The Goodyear Tire & Rubber Co. | The Goodyear Tire & Rubber Co. | The Goodyear Tire & Rubber Co. |
| &nbsp;&nbsp; 5.00%, 05/31/2026 | 138000 | 138440 |
| &nbsp;&nbsp; 5.00%, 07/15/2029 | 500000 | 488725 |
| &nbsp;&nbsp; 6.63%, 07/15/2030 | 500000 | 509464 |
|  |  | 3092004 |
| **Automobiles - 0.3%** | **Automobiles - 0.3%** | **Automobiles - 0.3%** |
|  Ford Motor Co., 9.63%, 04/22/2030 | 500000 | 575202 |
| **Beverages - 0.2%** | **Beverages - 0.2%** | **Beverages - 0.2%** |
|  Primo Water Holdings, Inc. / Triton Water Holdings, Inc., 4.38%, 04/30/2029 <sup>(d)</sup> | 300000 | 291155 |
| **Building Products - 0.5%** | **Building Products - 0.5%** | **Building Products - 0.5%** |
|  Advanced Drainage Systems, Inc., 5.00%, 09/30/2027 <sup>(d)</sup> | 500000 | 495666 |
|  Griffon Corp., 5.75%, 03/01/2028 | 500000 | 500266 |
|  |  | 995932 |
| **Chemicals - 0.7%** | **Chemicals - 0.7%** | **Chemicals - 0.7%** |
| Consolidated Energy Finance SA | Consolidated Energy Finance SA | Consolidated Energy Finance SA |
| &nbsp;&nbsp; 6.50%, 05/15/2026 <sup>(d)</sup> | 100000 | 97162 |
| &nbsp;&nbsp; 5.63%, 10/15/2028 <sup>(d)</sup> | 400000 | 344956 |
| &nbsp;&nbsp; 12.00%, 02/15/2031 <sup>(d)</sup> | 250000 | 246006 |
|  INEOS Quattro Finance 2 PLC, 9.63%, 03/15/2029 <sup>(d)</sup> | 500000 | 507135 |
|  |  | 1195259 |
| **Commercial Services & Supplies - 0.8%** | **Commercial Services & Supplies - 0.8%** | **Commercial Services & Supplies - 0.8%** |
|  Deluxe Corp., 8.13%, 09/15/2029 <sup>(d)</sup> | 750000 | 774806 |
|  Pitney Bowes, Inc., 7.25%, 03/15/2029 <sup>(d)</sup> | 725000 | 739865 |
|  |  | 1514671 |
| **Computers & Peripherals - 1.0%** | **Computers & Peripherals - 1.0%** | **Computers & Peripherals - 1.0%** |
|  CPI CG, Inc., 10.00%, 07/15/2029 <sup>(d)</sup> | 600000 | 640500 |
|  Western Digital Corp., 4.75%, 02/15/2026 | 106000 | 105837 |
|  Xerox Corp., 10.25%, 10/15/2030 <sup>(d)</sup> | 500000 | 524124 |
| Xerox Holdings Corp. | Xerox Holdings Corp. | Xerox Holdings Corp. |
| &nbsp;&nbsp; 5.50%, 08/15/2028 <sup>(d)</sup> | 250000 | 191756 |
| &nbsp;&nbsp; 8.88%, 11/30/2029 <sup>(d)</sup> | 500000 | 378040 |
|  |  | 1840257 |
| **Construction & Engineering - 1.6%** | **Construction & Engineering - 1.6%** | **Construction & Engineering - 1.6%** |
|  Global Infrastructure Solutions, Inc., 5.63%, 06/01/2029 <sup>(d)</sup> | 750000 | 747676 |
|  Great Lakes Dredge & Dock Corp., 5.25%, 06/01/2029 <sup>(d)</sup> | 600000 | 577117 |
|  New Enterprise Stone & Lime Co., Inc., 5.25%, 07/15/2028 <sup>(d)</sup> | 500000 | 501540 |
|  Tutor Perini Corp., 11.88%, 04/30/2029 <sup>(d)</sup> | 1000000 | 1126402 |
|  |  | 2952735 |
| **Consumer Finance - 1.7%** | **Consumer Finance - 1.7%** | **Consumer Finance - 1.7%** |
| Enova International, Inc. | Enova International, Inc. | Enova International, Inc. |
| &nbsp;&nbsp; 11.25%, 12/15/2028 <sup>(d)</sup> | 400000 | 429999 |
| &nbsp;&nbsp; 9.13%, 08/01/2029 <sup>(d)</sup> | 350000 | 368723 |
|  EZCORP, Inc., 7.38%, 04/01/2032 <sup>(d)</sup> | 500000 | 526936 |
| FirstCash, Inc. | FirstCash, Inc. | FirstCash, Inc. |
| &nbsp;&nbsp; 5.63%, 01/01/2030 <sup>(d)</sup> | 500000 | 499262 |
| &nbsp;&nbsp; 6.88%, 03/01/2032 <sup>(d)</sup> | 500000 | 518052 |
|  OneMain Finance Corp., 7.13%, 03/15/2026 | 242000 | 245733 |
|  Synchrony Financial, 4.50%, 07/23/2025 | 500000 | 499670 |
|  |  | 3088375 |
| **Consumer Staples Distribution & Retail - 1.7%** | **Consumer Staples Distribution & Retail - 1.7%** | **Consumer Staples Distribution & Retail - 1.7%** |
|  C&S Group Enterprises LLC, 5.00%, 12/15/2028 <sup>(d)</sup> | 500000 | 451951 |
|  KeHE Distributors LLC / KeHE Finance Corp. / NextWave Distribution, Inc., 9.00%, 02/15/2029 <sup>(d)</sup> | 750000 | 777551 |
|  Performance Food Group, Inc., 5.50%, 10/15/2027 <sup>(d)</sup> | 750000 | 749064 |
|  United Natural Foods, Inc., 6.75%, 10/15/2028 <sup>(d)</sup> | 625000 | 617295 |
|  US Foods, Inc., 4.75%, 02/15/2029 <sup>(d)</sup> | 470000 | 462148 |
|  |  | 3058009 |
| **Diversified Consumer Services - 0.1%** | **Diversified Consumer Services - 0.1%** | **Diversified Consumer Services - 0.1%** |
|  Carriage Services, Inc., 4.25%, 05/15/2029 <sup>(d)</sup> | 200000 | 189101 |
| **Energy Equipment & Services - 0.3%** | **Energy Equipment & Services - 0.3%** | **Energy Equipment & Services - 0.3%** |
|  Tidewater, Inc., 9.13%, 07/15/2030 <sup>(d)</sup> | 500000 | 514794 |
| **Entertainment - 0.4%** | **Entertainment - 0.4%** | **Entertainment - 0.4%** |
|  Banijay Entertainment SAS, 8.13%, 05/01/2029 <sup>(d)</sup> | 750000 | 778038 |
| **Financial Services - 0.9%** | **Financial Services - 0.9%** | **Financial Services - 0.9%** |
|  Burford Capital Global Finance LLC, 6.25%, 04/15/2028 <sup>(d)</sup> | 250000 | 247855 |
|  HAS Capital Income Opportunity Fund II LLC, 8.00%, 08/31/2031 <sup>(c)(d)</sup> | 642000 | 393403 |
|  Nationstar Mortgage Holdings, Inc., 5.00%, 02/01/2026 <sup>(d)</sup> | 250000 | 249185 |
| United Wholesale Mortgage LLC | United Wholesale Mortgage LLC | United Wholesale Mortgage LLC |
| &nbsp;&nbsp; 5.50%, 11/15/2025 <sup>(d)</sup> | 320000 | 320159 |
| &nbsp;&nbsp; 5.50%, 04/15/2029 <sup>(d)</sup> | 430000 | 417857 |
|  |  | 1628459 |
| **Food Products - 0.2%** | **Food Products - 0.2%** | **Food Products - 0.2%** |
|  Simmons Foods, Inc./Simmons Prepared Foods, Inc./Simmons Pet Food, Inc./Simmons Feed, 4.63%, 03/01/2029 <sup>(d)</sup> | 494000 | 466887 |
| **Ground Transportation - 0.3%** | **Ground Transportation - 0.3%** | **Ground Transportation - 0.3%** |
|  RXO, Inc., 7.50%, 11/15/2027 <sup>(d)</sup> | 500000 | 513036 |
| **Health Care Equipment & Supplies - 0.6%** | **Health Care Equipment & Supplies - 0.6%** | **Health Care Equipment & Supplies - 0.6%** |
|  Varex Imaging Corp., 7.88%, 10/15/2027 <sup>(d)</sup> | 1100000 | 1114236 |
| **Health Care Providers & Services - 0.5%** | **Health Care Providers & Services - 0.5%** | **Health Care Providers & Services - 0.5%** |
|  Owens & Minor, Inc., 4.50%, 03/31/2029 <sup>(d)</sup> | 1000000 | 893692 |
| **Hotels, Restaurants & Leisure - 1.2%** | **Hotels, Restaurants & Leisure - 1.2%** | **Hotels, Restaurants & Leisure - 1.2%** |
| Carnival Corp. | Carnival Corp. | Carnival Corp. |
| &nbsp;&nbsp; 5.75%, 03/01/2027 <sup>(d)</sup> | 500000 | 504284 |
| &nbsp;&nbsp; 6.00%, 05/01/2029 <sup>(d)</sup> | 250000 | 252763 |
|  NCL Corp. Ltd., 5.88%, 02/15/2027 <sup>(d)</sup> | 750000 | 753377 |
|  Travel + Leisure Co., 6.60%, 10/01/2025 <sup>(e)</sup> | 750000 | 753003 |
|  |  | 2263427 |
| **Household Durables - 1.7%** | **Household Durables - 1.7%** | **Household Durables - 1.7%** |
|  Adams Homes, Inc., 9.25%, 10/15/2028 <sup>(d)</sup> | 750000 | 773384 |
|  Empire Communities Corp., 9.75%, 05/01/2029 <sup>(d)</sup> | 500000 | 511948 |
|  Mattamy Group Corp., 5.25%, 12/15/2027 <sup>(d)</sup> | 500000 | 497911 |
|  STL Holding Co. LLC, 8.75%, 02/15/2029 <sup>(d)</sup> | 250000 | 262110 |
| The New Home Co., Inc. | The New Home Co., Inc. | The New Home Co., Inc. |
| &nbsp;&nbsp; 9.25%, 10/01/2029 <sup>(d)</sup> | 750000 | 778735 |
| &nbsp;&nbsp; 8.50%, 11/01/2030 <sup>(d)</sup> | 250000 | 255110 |
|  |  | 3079198 |
| **Industrial Conglomerates - 0.1%** | **Industrial Conglomerates - 0.1%** | **Industrial Conglomerates - 0.1%** |
|  Icahn Enterprises LP / Icahn Enterprises Finance Corp., 6.25%, 05/15/2026 | 178000 | 176885 |
| **Industrial Power & Renewable Electricity Products - 0.3%** | **Industrial Power & Renewable Electricity Products - 0.3%** | **Industrial Power & Renewable Electricity Products - 0.3%** |
|  Vistra Operations Co. LLC, 5.05%, 12/30/2026 <sup>(d)</sup> | 500000 | 502710 |
| **IT Services - 0.6%** | **IT Services - 0.6%** | **IT Services - 0.6%** |
|  Unisys Corp., 10.63%, 01/15/2031 <sup>(d)</sup> | 1000000 | 1034467 |
| **Machinery - 0.9%** | **Machinery - 0.9%** | **Machinery - 0.9%** |
|  Enpro, Inc., 6.13%, 06/01/2033 <sup>(d)</sup> | 500000 | 512411 |
|  The Manitowoc Co., Inc., 9.25%, 10/01/2031 <sup>(d)</sup> | 500000 | 526844 |
|  Wabash National Corp., 4.50%, 10/15/2028 <sup>(d)</sup> | 750000 | 680085 |
|  |  | 1719340 |
| **Media - 0.4%** | **Media - 0.4%** | **Media - 0.4%** |
|  DIRECTV Holdings LLC / DIRECTV Financing Co., Inc., 5.88%, 08/15/2027 <sup>(d)</sup> | 700000 | 697645 |
| **Metals & Mining - 1.8%** | **Metals & Mining - 1.8%** | **Metals & Mining - 1.8%** |
|  Century Aluminum Co., 7.50%, 04/01/2028 <sup>(d)</sup> | 750000 | 764030 |
|  Champion Iron Canada, Inc., 7.88%, 07/15/2032 <sup>(d)</sup> | 250000 | 253517 |
|  Coeur Mining, Inc., 5.13%, 02/15/2029 <sup>(d)</sup> | 600000 | 585422 |
|  Hecla Mining Co., 7.25%, 02/15/2028 | 500000 | 504276 |
| Perenti Finance Pty Ltd. | Perenti Finance Pty Ltd. | Perenti Finance Pty Ltd. |
| &nbsp;&nbsp; 6.50%, 10/07/2025 <sup>(d)</sup> | 118808 | 118808 |
| &nbsp;&nbsp; 7.50%, 04/26/2029 <sup>(d)</sup> | 500000 | 517480 |
|  SunCoke Energy, Inc., 4.88%, 06/30/2029 <sup>(d)</sup> | 500000 | 465668 |
|  |  | 3209201 |
| **Mortgage Real Estate Investment Trusts - REITS - 0.6%** | **Mortgage Real Estate Investment Trusts - REITS - 0.6%** | **Mortgage Real Estate Investment Trusts - REITS - 0.6%** |
|  Blackstone Mortgage Trust, Inc., 7.75%, 12/01/2029 <sup>(d)</sup> | 500000 | 531186 |
|  Oxford Finance LLC / Oxford Finance Co.-Issuer II, Inc., 6.38%, 02/01/2027 <sup>(d)</sup> | 500000 | 503088 |
|  |  | 1034274 |
| **Oil, Gas & Consumable Fuels - 1.4%** | **Oil, Gas & Consumable Fuels - 1.4%** | **Oil, Gas & Consumable Fuels - 1.4%** |
| Calumet Specialty Products Partners LP / Calumet Finance Corp. | Calumet Specialty Products Partners LP / Calumet Finance Corp. | Calumet Specialty Products Partners LP / Calumet Finance Corp. |
| &nbsp;&nbsp; 11.00%, 04/15/2026 <sup>(d)</sup> | 288000 | 288270 |
| &nbsp;&nbsp; 9.75%, 07/15/2028 <sup>(d)</sup> | 250000 | 249495 |
|  Genesis Energy LP / Genesis Energy Finance Corp., 7.75%, 02/01/2028 | 450000 | 456982 |
|  Global Partners LP / GLP Finance Corp., 7.13%, 07/01/2033 <sup>(d)</sup> | 800000 | 812578 |
|  NGL Energy Operating LLC / NGL Energy Finance Corp., 8.13%, 02/15/2029 <sup>(d)</sup> | 750000 | 758276 |
|  |  | 2565601 |
| **Passenger Airlines - 2.0%** | **Passenger Airlines - 2.0%** | **Passenger Airlines - 2.0%** |
|  Allegiant Travel Co., 7.25%, 08/15/2027 <sup>(d)</sup> | 1000000 | 1000898 |
|  American Airlines, Inc./AAdvantage Loyalty IP Ltd., 5.50%, 04/20/2026 <sup>(d)</sup> | 1044333 | 1042605 |
|  JetBlue Airways Corp. / JetBlue Loyalty L.P., 9.88%, 09/20/2031 <sup>(d)</sup> | 850000 | 827158 |
|  United Airlines, Inc., 4.38%, 04/15/2026 <sup>(d)</sup> | 750000 | 745519 |
|  |  | 3616180 |
| **Personal Care Products - 0.3%** | **Personal Care Products - 0.3%** | **Personal Care Products - 0.3%** |
|  Coty, Inc., 5.00%, 04/15/2026 <sup>(d)</sup> | 500000 | 501573 |
| **Professional Services - 1.1%** | **Professional Services - 1.1%** | **Professional Services - 1.1%** |
|  CACI International, Inc., 6.38%, 06/15/2033 <sup>(d)</sup> | 500000 | 516030 |
|  Conduent Business Services LLC / Conduent State & Local Solutions, Inc., 6.00%, 11/01/2029 <sup>(d)</sup> | 750000 | 716691 |
|  KBR, Inc., 4.75%, 09/30/2028 <sup>(d)</sup> | 750000 | 722029 |
|  |  | 1954750 |
| **Software - 0.4%** | **Software - 0.4%** | **Software - 0.4%** |
|  Fair Isaac Corp., 5.25%, 05/15/2026 <sup>(d)</sup> | 500000 | 500658 |
|  NCR Voyix Corp., 5.00%, 10/01/2028 <sup>(d)</sup> | 175000 | 173338 |
|  |  | 673996 |
| **Specialty Retail - 1.5%** | **Specialty Retail - 1.5%** | **Specialty Retail - 1.5%** |
|  Advance Auto Parts, Inc., 5.90%, 03/09/2026 | 500000 | 500378 |
|  Ken Garff Automotive LLC, 4.88%, 09/15/2028 <sup>(d)</sup> | 500000 | 494307 |
|  Penske Automotive Group, Inc., 3.50%, 09/01/2025 | 750000 | 747974 |
|  Sonic Automotive, Inc., 4.63%, 11/15/2029 <sup>(d)</sup> | 500000 | 485189 |
|  Upbound Group, Inc., 6.38%, 02/15/2029 <sup>(d)</sup> | 600000 | 590782 |
|  |  | 2818630 |
| **Textiles, Apparel & Luxury Goods - 0.4%** | **Textiles, Apparel & Luxury Goods - 0.4%** | **Textiles, Apparel & Luxury Goods - 0.4%** |
|  The William Carter Co., 5.63%, 03/15/2027 <sup>(d)</sup> | 750000 | 747268 |
| **Trading Companies & Distributors - 1.3%** | **Trading Companies & Distributors - 1.3%** | **Trading Companies & Distributors - 1.3%** |
|  GGAM Finance Ltd., 7.75%, 05/15/2026 <sup>(d)</sup> | 500000 | 505479 |
| Herc Holdings, Inc. | Herc Holdings, Inc. | Herc Holdings, Inc. |
| &nbsp;&nbsp; 5.50%, 07/15/2027 <sup>(d)</sup> | 500000 | 500442 |
| &nbsp;&nbsp; 7.00%, 06/15/2030 <sup>(d)</sup> | 1000000 | 1044570 |
|  WESCO Distribution, Inc., 7.25%, 06/15/2028 <sup>(d)</sup> | 250000 | 253322 |
|  |  | 2303813 |
| **Transportation Infrastructure - 0.2%** | **Transportation Infrastructure - 0.2%** | **Transportation Infrastructure - 0.2%** |
|  Signature Aviation US Holdings, Inc., 4.00%, 03/01/2028 <sup>(d)</sup> | 400000 | 350362 |
| **TOTAL CORPORATE BONDS** (Cost $54,420,996) | **TOTAL CORPORATE BONDS** (Cost $54,420,996) | 54522392 |
| **REAL ESTATE INVESTMENT TRUSTS - 3.3%** | **Shares** | **Value**  |
| **Industrial REITs - 1.6%** | **Industrial REITs - 1.6%** |  |
| Terreno Realty Corp. | 53250 | 2985727 |
| **Specialized REITs - 1.7%** | **Specialized REITs - 1.7%** |  |
| Lamar Advertising Co. - Class A | 25560 | 3101962 |
| **TOTAL REAL ESTATE INVESTMENT TRUSTS** (Cost $5,214,949) | **TOTAL REAL ESTATE INVESTMENT TRUSTS** (Cost $5,214,949) | 6087689 |
| **CONVERTIBLE BONDS - 2.9%** | **Par** | **Value** |
| **Automobiles - 0.1%** | **Automobiles - 0.1%** | **Automobiles - 0.1%** |
|  Ford Motor Co., 0.00%, 03/15/2026 <sup>(f)</sup> | 100000 | 99050 |
| **Consumer Finance - 0.7%** | **Consumer Finance - 0.7%** | **Consumer Finance - 0.7%** |
|  EZCORP, Inc., 3.75%, 12/15/2029 <sup>(d)</sup> | 145000 | 210794 |
|  LendingTree, Inc., 0.50%, 07/15/2025 | 1000000 | 993750 |
|  |  | 1204544 |
| **Health Care Equipment & Supplies - 0.1%** | **Health Care Equipment & Supplies - 0.1%** | **Health Care Equipment & Supplies - 0.1%** |
|  Haemonetics Corp., 0.00%, 03/01/2026 <sup>(f)</sup> | 250000 | 242155 |
| **Hotels, Restaurants & Leisure - 0.4%** | **Hotels, Restaurants & Leisure - 0.4%** | **Hotels, Restaurants & Leisure - 0.4%** |
|  Airbnb, Inc., 0.00%, 03/15/2026 <sup>(f)</sup> | 750000 | 724872 |
| **Interactive Media & Services - 0.1%** | **Interactive Media & Services - 0.1%** | **Interactive Media & Services - 0.1%** |
|  Match Group Financeco 2, Inc., 0.88%, 06/15/2026 <sup>(d)</sup> | 250000 | 242125 |
| **IT Services - 0.4%** | **IT Services - 0.4%** | **IT Services - 0.4%** |
|  Okta, Inc., 0.13%, 09/01/2025 | 287000 | 285565 |
|  Wix.com Ltd., 0.00%, 08/15/2025 <sup>(f)</sup> | 500000 | 498750 |
|  |  | 784315 |
| **Machinery - 0.1%** | **Machinery - 0.1%** | **Machinery - 0.1%** |
|  John Bean Technologies Corp., 0.25%, 05/15/2026 | 250000 | 249275 |
| **Media - 0.5%** | **Media - 0.5%** | **Media - 0.5%** |
|  Cable One, Inc., 0.00%, 03/15/2026 <sup>(f)</sup> | 1000000 | 948600 |
| **Pharmaceuticals - 0.2%** | **Pharmaceuticals - 0.2%** | **Pharmaceuticals - 0.2%** |
|  Jazz Investments I Ltd., 2.00%, 06/15/2026 | 250000 | 253312 |
| **Specialty Retail - 0.3%** | **Specialty Retail - 0.3%** | **Specialty Retail - 0.3%** |
|  Wayfair, Inc., 0.63%, 10/01/2025 <sup>(a)</sup> | 500000 | 489250 |
| **TOTAL CONVERTIBLE BONDS** (Cost $5,183,462) | **TOTAL CONVERTIBLE BONDS** (Cost $5,183,462) | 5237498 |
| **SHORT-TERM INVESTMENTS - 4.3%** |  | **Value**  |
| **Commercial Paper - 2.7%** | **<u>Par</u>** |  |
| **Chemicals — 0.6%** |  |  |
| FMC Corp., 5.27%, 07/03/2025 <sup>(g)</sup> | 1000000 | 999573 |
| **Electronic Equipment, Instruments & Components — 0.5%** |  |  |
| Jabil, Inc., 4.90%, 07/14/2025 <sup>(g)</sup> | 1000000 | 998025 |
| **Ground Transportation — 0.5%** |  |  |
| Ryder System, Inc., 4.61%, 07/11/2025 <sup>(g)</sup> | 1000000 | 998598 |
| **Industrial Power & Renewable Electricity Products — 0.5%** |  |  |
| Brookfield Renewable Partners, 4.83%, 07/22/2025 <sup>(g)</sup> | 1000000 | 997176 |
| **Specialized REITs — 0.6%** |  |  |
| Crown Castle International Corp., 5.03%, 07/01/2025 <sup>(g)</sup> | 1000000 | 999862 |
| **Total Commercial Paper** (Cost $4,993,868) |  | 4993234 |
| **Money Market Funds - 1.6%** | **<u>Shares</u>** |  |
| Federated Hermes US Treasury Cash Reserves - Institutional Class, 4.12%<sup>(h)</sup> | 2910977 | 2910977 |
| **TOTAL SHORT-TERM INVESTMENTS** (Cost $7,904,845) | **TOTAL SHORT-TERM INVESTMENTS** (Cost $7,904,845) | 7904211 |
| **TOTAL INVESTMENTS - 99.9% (**Cost $140,584,213**)** | **TOTAL INVESTMENTS - 99.9% (**Cost $140,584,213**)** | 181960288 |
| Other Assets in Excess of Liabilities - 0.1% | Other Assets in Excess of Liabilities - 0.1% | 123314 |
| **TOTAL NET ASSETS - 100.0%** |  | $182083602 |
| two | two | –% |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. | –% |
| The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. | The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. | The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. |

---

---

| |
|:---|
| ADR - American Depositary Receipt |
| LLC - Limited Liability Company |
| LP - Limited Partnership |
| PLC - Public Limited Company |
| REIT - Real Estate Investment Trust |

---

(a) Non-income producing security.

(b) Represents less than 0.05% of net assets.

(c) Fair value determined using significant unobservable inputs in accordance with procedures established by and under the supervision of the Adviser, acting as Valuation Designee. These securities
 represented $977,615 or 0.5% of net assets as of June 30, 2025.

(d) Security is exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may only be resold in transactions exempt from registration to qualified
 institutional investors. As of June 30, 2025, the value of these securities total $48,022,167 or 26.4% of the Fund's net assets.

(e) Step coupon bond. The rate disclosed is as of June 30, 2025.

(f) Zero coupon bonds make no periodic interest payments.

(g) The rate shown is the annualized effective yield as of June 30, 2025.

(h) The rate shown represents the 7-day annualized effective yield as of June 30, 2025.

------

#### Summary of Fair Value Disclosure as of June 30, 2025 (Unaudited)
Osterweis Growth & Income Fund (the "Fund") has adopted fair value accounting standards which establish a definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion of changes in valuation techniques and related inputs during the period, and expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below. The inputs or valuation methodology used for valuing securities are not an indication of the risk associated with investing in those securities.

Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.

Level 2 - 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 instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.

Level 3 - 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 based on the best information available.

The following is a summary of the fair valuation hierarchy of the Fund's securities as of June 30, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **<u>Level 1</u>** | **<u>Level 2</u>** | **<u>Level 3</u>** | **<u>Total</u>** |
| **Assets:** | | | | |
| <u>Investments:</u> |  |  |  |  |
|  &nbsp;&nbsp;&nbsp;&nbsp;Common Stocks | 107624286 | – | 584211 | 108208497 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Corporate Bonds | – | 54128988 | 393404 | 54522392 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Real Estate Investment Trusts - Common | 6087689 | – | – | 6087689 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Convertible Bonds | – | 5237498 | – | 5237498 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Commercial Paper | – | 4993235 | – | 4993235 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Money Market Funds | 2910977 | – | – | 2910977 |
| Total Investments | 116622952 | 64359721 | 977615 | 181960288 |
| Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. |
| Changes in valuation techniques may result in transfers into or out of assigned levels within the fair value hierarchy. There were no transfers into or out of Level 3 during the reporting period as compared to the security classifications from the prior year's annual report. | Changes in valuation techniques may result in transfers into or out of assigned levels within the fair value hierarchy. There were no transfers into or out of Level 3 during the reporting period as compared to the security classifications from the prior year's annual report. | Changes in valuation techniques may result in transfers into or out of assigned levels within the fair value hierarchy. There were no transfers into or out of Level 3 during the reporting period as compared to the security classifications from the prior year's annual report. | Changes in valuation techniques may result in transfers into or out of assigned levels within the fair value hierarchy. There were no transfers into or out of Level 3 during the reporting period as compared to the security classifications from the prior year's annual report. | Changes in valuation techniques may result in transfers into or out of assigned levels within the fair value hierarchy. There were no transfers into or out of Level 3 during the reporting period as compared to the security classifications from the prior year's annual report. |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| The following is a reconciliation of the Fund's Level 3 assets for which significant unobservable inputs were used to determine fair value: | The following is a reconciliation of the Fund's Level 3 assets for which significant unobservable inputs were used to determine fair value: | The following is a reconciliation of the Fund's Level 3 assets for which significant unobservable inputs were used to determine fair value: | The following is a reconciliation of the Fund's Level 3 assets for which significant unobservable inputs were used to determine fair value: | The following is a reconciliation of the Fund's Level 3 assets for which significant unobservable inputs were used to determine fair value: |
|  | **Common Stocks** | **Private Mortgage**<br> **Backed Obligations** | **Total** |  |
| **Balance as of March 31, 2025** | $637004 | $387077 | $1024081 |  |
| &nbsp;&nbsp;&nbsp; Acquisitions | - | - | - |  |
| &nbsp;&nbsp;&nbsp; Dispositions | (1612) | - | (1612) |  |
| &nbsp;&nbsp;&nbsp; Accrued discounts/premiums | - | - | - |  |
| &nbsp;&nbsp;&nbsp; Realized gain (loss) | - | - | - |  |
| &nbsp;&nbsp;&nbsp; Change in unrealized appreciation/depreciation | (51181) | 6327 | (44854) |  |
| &nbsp;&nbsp;&nbsp; Transfer in and/or out of Level 3 | - | - | - |  |
| **Balance as of June 30, 2025** | $584211 | $393404 | $977615 |  |
| Change in unrealized appreciation/depreciation for Level 3 investments held at June 30, 2025 | $(51181) | $6327 | $(44854) |  |
| **Type of Security** | **Fair Value at 6/30/2025** | **Valuation Techniques** | **Unobservable Input** | **Input Value(s)** |
| &nbsp;&nbsp;&nbsp; Common Stocks |  | Market Data | Last Trade Price | $74250.00 |
|  |  | Estimated Proceeds | Future Proceeds from Equity Take-Out | 0.2434 |
|  | $584211 | Estimated Proceeds | Future Proceeds from the Litigation Trust | 0.0007514 |
| &nbsp;&nbsp;&nbsp; Private Mortgage Backed Obligations | $393404 | Discounted Cash Flow | Adjustment to yield | 300 bps |
| Significant increases (decreases) in any of those inputs in isolation would result in a significantly higher (lower) fair value measurement. Increases in the adjustment to yield would decrease price and decreases in the adjustment to yield would increase price. | Significant increases (decreases) in any of those inputs in isolation would result in a significantly higher (lower) fair value measurement. Increases in the adjustment to yield would decrease price and decreases in the adjustment to yield would increase price. | Significant increases (decreases) in any of those inputs in isolation would result in a significantly higher (lower) fair value measurement. Increases in the adjustment to yield would decrease price and decreases in the adjustment to yield would increase price. | Significant increases (decreases) in any of those inputs in isolation would result in a significantly higher (lower) fair value measurement. Increases in the adjustment to yield would decrease price and decreases in the adjustment to yield would increase price. | Significant increases (decreases) in any of those inputs in isolation would result in a significantly higher (lower) fair value measurement. Increases in the adjustment to yield would decrease price and decreases in the adjustment to yield would increase price. |
| Changes in valuation techniques may result in transfers into or out of assigned levels within the fair value hierarchy. There were no transfers into or out of Level 3 during the reporting period as compared to the security classifications from the prior year's annual report. | Changes in valuation techniques may result in transfers into or out of assigned levels within the fair value hierarchy. There were no transfers into or out of Level 3 during the reporting period as compared to the security classifications from the prior year's annual report. | Changes in valuation techniques may result in transfers into or out of assigned levels within the fair value hierarchy. There were no transfers into or out of Level 3 during the reporting period as compared to the security classifications from the prior year's annual report. | Changes in valuation techniques may result in transfers into or out of assigned levels within the fair value hierarchy. There were no transfers into or out of Level 3 during the reporting period as compared to the security classifications from the prior year's annual report. | Changes in valuation techniques may result in transfers into or out of assigned levels within the fair value hierarchy. There were no transfers into or out of Level 3 during the reporting period as compared to the security classifications from the prior year's annual report. |
| The Adviser, as the Funds' Valuation Designee, oversees valuation techniques. | The Adviser, as the Funds' Valuation Designee, oversees valuation techniques. | The Adviser, as the Funds' Valuation Designee, oversees valuation techniques. | The Adviser, as the Funds' Valuation Designee, oversees valuation techniques. | The Adviser, as the Funds' Valuation Designee, oversees valuation techniques. |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Professionally Managed Portfolios

- **b. Investment Company Act file number:** 811-05037

- **c. CIK number of Registrant:** 0000811030

- **d. LEI of Registrant:** 254900BPISCYGRJD2727

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

  - **Street Address 1:** 615 East Michigan Street

  - **City:** Milwaukee

  - **State:** WI

  - **Foreign country:** US

  - **Zip / Postal Code:** 53202

  - **Telephone number:** 414-516-1523

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

- **a. Name of Series:** Osterweis Growth & Income Fund

- **b. EDGAR series identifier (if any):** S000029833

- **c. LEI of Series:** 254900NPSJHQXWC44T39

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

- **a. Date of fiscal year-end:** 2026-03-31

- **b. Date as of which information is reported:** 2025-06-30

**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:** $183231055.64

**Total Liabilities:** $1146152.66

**Net Assets:** $182084902.98

**Delayed Delivery Securities:** $1005259.50

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 68.674582000000 | **1-Year:** 92.183019000000 | **5-Year:** 198.821348000000 | **10-Year:** 0.000000000000 | **30-Year:** 0.000000000000

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

- **3-Month:** 4792.152356000000 | **1-Year:** 3577.668708000000 | **5-Year:** 1640.759945000000 | **10-Year:** 37.377351000000 | **30-Year:** 0.000000000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000091752 | -1.19%               | 4.11%                | 3.20%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-3656959.25             | $1152508.10                                |
| Month 2  | $835809.33               | $6019173.87                                |
| Month 3  | $20785.08                | $5246677.51                                |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ADVANCE AUTO PARTS             | Advance Auto Parts Inc                                                         | CUSIP: 00751YAH9<br>LEI: 529900UCNQ5H9FSL0Y70 | Long             | DBT              | CORP              | US        |    500000 | PA      | $500377.50    | 0.27%             | 2026-03-09      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE MORTGAGE TR         | Blackstone Mortgage Trust Inc                                                  | CUSIP: 09257WAF7<br>LEI: 549300OLDJ20R2Y2UW20 | Long             | DBT              | CORP              | US        |    500000 | PA      | $531186.00    | 0.29%             | 2029-12-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| COEUR MINING INC               | Coeur Mining Inc                                                               | CUSIP: 192108BC1<br>LEI: 5493003AVK173D48DR70 | Long             | DBT              | CORP              | US        |    600000 | PA      | $585422.28    | 0.32%             | 2029-02-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| JBT MAREL CORP                 | JBT Marel Corp                                                                 | CUSIP: 477839AB0<br>LEI: 5493007CT6ATBZ2L6826 | Long             | DBT              | CORP              | US        |    250000 | PA      | $249275.00    | 0.14%             | 2026-05-15      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| GRIFFON CORPORATION            | Griffon Corp                                                                   | CUSIP: 398433AP7<br>LEI: 5493000C2SGNC7ZN3242 | Long             | DBT              | CORP              | US        |    500000 | PA      | $500266.05    | 0.27%             | 2028-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Lamar Advertising Co           | Lamar Advertising Co                                                           | CUSIP: 512816109<br>LEI: 529900Y8WW4MKVPTB543 | Long             | EC               | CORP              | US        |     25560 | NS      | $3101961.60   | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| NCL CORPORATION LTD            | NCL Corp Ltd                                                                   | CUSIP: 62886HBE0<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |    750000 | PA      | $753376.94    | 0.41%             | 2027-02-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Progressive Corp/The           | Progressive Corp/The                                                           | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Long             | EC               | CORP              | US        |     11858 | NS      | $3164425.88   | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| STL HOLDING CO LLC             | STL Holding Co LLC                                                             | CUSIP: 861036AB7<br>LEI: 984500BC2I63E7F48656 | Long             | DBT              | CORP              | US        |    250000 | PA      | $262110.00    | 0.14%             | 2029-02-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| SUNCOKE ENERGY INC             | SunCoke Energy Inc                                                             | CUSIP: 86722AAD5<br>LEI: 1KF1J2NXQE2PI0QOB943 | Long             | DBT              | CORP              | US        |    500000 | PA      | $465667.78    | 0.26%             | 2029-06-30      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| ADAMS HOMES INC                | Adams Homes Inc                                                                | CUSIP: 00623PAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    750000 | PA      | $773384.25    | 0.42%             | 2028-10-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| AIRBNB INC                     | Airbnb Inc                                                                     | CUSIP: 009066AB7<br>LEI: 549300HMUDNO0RY56D37 | Long             | DBT              | CORP              | US        |    750000 | PA      | $724872.47    | 0.40%             | 2026-03-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| AutoZone Inc                   | AutoZone Inc                                                                   | CUSIP: 053332102<br>LEI: GA3JGKJ41LJKXDN23E90 | Long             | EC               | CORP              | US        |       979 | NS      | $3634273.17   | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| C&S GROUP ENTERPRISES LL       | C&S Group Enterprises LLC                                                      | CUSIP: 12467AAF5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $451950.45    | 0.25%             | 2028-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CABLE ONE INC                  | Cable One Inc                                                                  | CUSIP: 12685JAE5<br>LEI: 549300648QS85T0XSH18 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $948600.00    | 0.52%             | 2026-03-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| CENTURY ALUMINUM COMPANY       | Century Aluminum Co                                                            | CUSIP: 156431AN8<br>LEI: 549300U5ODNGEYWKSW73 | Long             | DBT              | CORP              | US        |    750000 | PA      | $764030.25    | 0.42%             | 2028-04-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CONSOLIDATED ENERGY FIN        | Consolidated Energy Finance SA                                                 | CUSIP: 20914UAE6<br>LEI: 549300PUNIS0USNSL750 | Long             | DBT              | CORP              | LU        |    100000 | PA      | $97162.08     | 0.05%             | 2026-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Danaher Corp                   | Danaher Corp                                                                   | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |     21807 | NS      | $4307754.78   | 2.37%             |  |  |  | No            |                  1 | On Loan: No      |
| EZCORP INC                     | EZCORP Inc                                                                     | CUSIP: 302301AJ5<br>LEI: 5493003K6PG3ZQ7TUQ63 | Long             | DBT              | CORP              | US        |    500000 | PA      | $526936.00    | 0.29%             | 2032-04-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| GREAT LAKES DREDGE&DOCK        | Great Lakes Dredge & Dock Corp                                                 | CUSIP: 390607AF6<br>LEI: 549300H65E3MZ1CX0P05 | Long             | DBT              | CORP              | US        |    600000 | PA      | $577116.72    | 0.32%             | 2029-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| JAZZ INVESTMENTS I LTD         | Jazz Investments I Ltd                                                         | CUSIP: 472145AF8<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    250000 | PA      | $253312.50    | 0.14%             | 2026-06-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| ADVANCED DRAINAGE SYSTEM       | Advanced Drainage Systems Inc                                                  | CUSIP: 00790RAA2<br>LEI: 6QQTOZ5MF5DHM7K92I60 | Long             | DBT              | CORP              | US        |    500000 | PA      | $495666.30    | 0.27%             | 2027-09-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Air Products and Chemicals Inc | Air Products and Chemicals Inc                                                 | CUSIP: 009158106<br>LEI: 7QEON6Y1RL5XR3R1W237 | Long             | EC               | CORP              | US        |     13035 | NS      | $3676652.10   | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN AXLE & MFG INC        | American Axle & Manufacturing Inc                                              | CUSIP: 02406PAU4<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | DBT              | CORP              | US        |    750000 | PA      | $750308.78    | 0.41%             | 2027-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Broadcom Inc                   | Broadcom Inc                                                                   | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |     19635 | NS      | $5412387.75   | 2.97%             |  |  |  | No            |                  1 | On Loan: No      |
| CARNIVAL CORP                  | Carnival Corp                                                                  | CUSIP: 143658BN1<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    500000 | PA      | $504283.43    | 0.28%             | 2027-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| MATCH GROUP FINANCECO 2        | Match Group Financeco 2 Inc                                                    | CUSIP: 44932FAA5<br>LEI: 549300IPGK4BWL134U96 | Long             | DBT              | CORP              | US        |    250000 | PA      | $242125.00    | 0.13%             | 2026-06-15      | Fixed         | 0.88%                 | No            |                  2 | On Loan: No      |
| MATTAMY GROUP CORP             | Mattamy Group Corp                                                             | CUSIP: 57701RAJ1<br>LEI: 5493008TNY7A82WCXU31 | Long             | DBT              | CORP              | CA        |    500000 | PA      | $497911.35    | 0.27%             | 2027-12-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW HOME CO INC/THE            | New Home Co Inc/The                                                            | CUSIP: 645370AF4<br>LEI: 549300PLCE8TB3TVRQ85 | Long             | DBT              | CORP              | US        |    750000 | PA      | $778734.75    | 0.43%             | 2029-10-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| WILLIAM CARTER                 | William Carter Co/The                                                          | CUSIP: 96926JAC1<br>LEI: TGI2A0HXEYNQPU7TYV27 | Long             | DBT              | CORP              | US        |    750000 | PA      | $747268.43    | 0.41%             | 2027-03-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| XEROX HOLDINGS CORP            | Xerox Holdings Corp                                                            | CUSIP: 98421MAB2<br>LEI: 5493000Y33XDVO2CXC18 | Long             | DBT              | CORP              | US        |    250000 | PA      | $191756.10    | 0.11%             | 2028-08-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES/AADVAN       | American Airlines Inc/AAdvantage Loyalty IP Ltd                                | CUSIP: 00253XAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1044333 | PA      | $1042604.56   | 0.57%             | 2026-04-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Airbus SE                      | Airbus SE                                                                      | CUSIP: 009279100<br>LEI: MINO79WLOO247M1IL051 | Long             | EC               | CORP              | FR        |     64305 | NS      | $3367009.80   | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com Inc                 | Amazon.com Inc                                                                 | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     28967 | NS      | $6355070.13   | 3.49%             |  |  |  | No            |                  1 | On Loan: No      |
| AMETEK Inc                     | AMETEK Inc                                                                     | CUSIP: 031100100<br>LEI: 549300WZDEF9KKE40E98 | Long             | EC               | CORP              | US        |     13120 | NS      | $2374195.20   | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| SIGNATURE AVIATION US          | Signature Aviation US Holdings Inc                                             | CUSIP: 05545MAC6<br>LEI: 213800CSNQ87U1MC8N11 | Long             | DBT              | CORP              | US        |    400000 | PA      | $350362.00    | 0.19%             | 2028-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| REAL ALLOY EQUITY              | REAL ALLOY EQUITY                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |         9 | NS      | $582172.50    | 0.32%             |  |  |  | No            |                  3 | On Loan: No      |
| RYDER SYS INC                  | RYDER SYS INC                                                                  | CUSIP: 78355AUB8<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |   1000000 | PA      | $998597.80    | 0.55%             | 2025-07-11      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| UNITED WHOLESALE MTGE LL       | United Wholesale Mortgage LLC                                                  | CUSIP: 91153LAA5<br>LEI: 549300HW662MN1WU8550 | Long             | DBT              | CORP              | US        |    320000 | PA      | $320158.88    | 0.18%             | 2025-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| WIX LTD                        | Wix.com Ltd                                                                    | CUSIP: 92940WAD1<br>LEI: 5493008P6N29Q1AG9464 | Long             | DBT              | CORP              | IL        |    500000 | PA      | $498749.99    | 0.27%             | 2025-08-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| ADIENT GLOBAL HOLDINGS         | Adient Global Holdings Ltd                                                     | CUSIP: 00687YAD7<br>LEI: 213800VA38VCKE6M8790 | Long             | DBT              | CORP              | JE        |    400000 | PA      | $409391.15    | 0.22%             | 2033-02-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Analog Devices Inc             | Analog Devices Inc                                                             | CUSIP: 032654105<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | EC               | CORP              | US        |     13773 | NS      | $3278249.46   | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| BROOKFIELD RENEWABLE PART      | BROOKFIELD RENEWABLE PART                                                      | CUSIP: 11284WUN1<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |   1000000 | PA      | $997176.40    | 0.55%             | 2025-07-22      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| CACI INTERNATIONAL INC         | CACI International Inc                                                         | CUSIP: 127190AE6<br>LEI: SYRPI2D1O9WRTS2WX210 | Long             | DBT              | CORP              | US        |    500000 | PA      | $516030.24    | 0.28%             | 2033-06-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| CHAMPION IRON CANADA INC       | Champion Iron Canada Inc                                                       | CUSIP: 15853BAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    250000 | PA      | $253517.28    | 0.14%             | 2032-07-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| CONDUENT BUS SERVICES          | Conduent Business Services LLC / Conduent State & Local Solutions Inc          | CUSIP: 20679LAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    750000 | PA      | $716690.85    | 0.39%             | 2029-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CONSOLIDATED ENERGY FIN        | Consolidated Energy Finance SA                                                 | CUSIP: 20914UAF3<br>LEI: 549300PUNIS0USNSL750 | Long             | DBT              | CORP              | LU        |    400000 | PA      | $344956.24    | 0.19%             | 2028-10-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| COTY INC                       | Coty Inc                                                                       | CUSIP: 222070AE4<br>LEI: 549300BO9IWPF3S48F93 | Long             | DBT              | CORP              | US        |    500000 | PA      | $501573.05    | 0.28%             | 2026-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Deere & Co                     | Deere & Co                                                                     | CUSIP: 244199105<br>LEI: PWFTNG3EI0Y73OXWDH08 | Long             | EC               | CORP              | US        |      3730 | NS      | $1896667.70   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| REAL HERO MERGER SUB 2         | Real Hero Merger Sub 2 Inc                                                     | CUSIP: 75602BAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    600000 | PA      | $434626.98    | 0.24%             | 2029-02-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| CARRIAGE SERVICES INC          | Carriage Services Inc                                                          | CUSIP: 143905AP2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $189101.32    | 0.10%             | 2029-05-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CONSOLIDATED ENERGY FIN        | Consolidated Energy Finance SA                                                 | CUSIP: 20914UAH9<br>LEI: 549300PUNIS0USNSL750 | Long             | DBT              | CORP              | LU        |    250000 | PA      | $246005.48    | 0.14%             | 2031-02-15      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| ENOVA INTERNATIONAL INC        | Enova International Inc                                                        | CUSIP: 29357KAK9<br>LEI: 549300O8XOCQSB49UO63 | Long             | DBT              | CORP              | US        |    350000 | PA      | $368723.60    | 0.20%             | 2029-08-01      | Fixed         | 9.12%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR COMPANY             | Ford Motor Co                                                                  | CUSIP: 345370CX6<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |    500000 | PA      | $575201.85    | 0.32%             | 2030-04-22      | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| CALUMET SPECIALTY PROD         | Calumet Specialty Products Partners LP / Calumet Finance Corp                  | CUSIP: 131477AY7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    288000 | PA      | $288270.14    | 0.16%             | 2026-04-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| KEHE DIST/FIN / NEXTWAVE       | KeHE Distributors LLC / KeHE Finance Corp / NextWave Distribution Inc          | CUSIP: 487526AC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    750000 | PA      | $777551.25    | 0.43%             | 2029-02-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Keysight Technologies Inc      | Keysight Technologies Inc                                                      | CUSIP: 49338L103<br>LEI: 549300GLKVIO8YRCYN02 | Long             | EC               | CORP              | US        |     10215 | NS      | $1673829.90   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| NEW ENTERPRISE STONE & L       | New Enterprise Stone & Lime Co Inc                                             | CUSIP: 644274AH5<br>LEI: 549300O5DQ5Y61B8VF38 | Long             | DBT              | CORP              | US        |    500000 | PA      | $501540.50    | 0.28%             | 2028-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PERENTI FINANCE PTY LTD        | Perenti Finance Pty Ltd                                                        | CUSIP: 71367VAA7<br>LEI: 894500ZDIIAOXSQHE612 | Long             | DBT              | CORP              | AU        |    118808 | PA      | $118808.34    | 0.07%             | 2025-10-07      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| PERFORMANCE FOOD GROUP I       | Performance Food Group Inc                                                     | CUSIP: 69346VAA7<br>LEI: 549300OMUOGBYK0FFO76 | Long             | DBT              | CORP              | US        |    750000 | PA      | $749063.72    | 0.41%             | 2027-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| RXO INC                        | RXO Inc                                                                        | CUSIP: 98379JAA3<br>LEI: 549300KL8CA6GP8XPM30 | Long             | DBT              | CORP              | US        |    500000 | PA      | $513035.54    | 0.28%             | 2027-11-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| American Water Works Co Inc    | American Water Works Co Inc                                                    | CUSIP: 030420103<br>LEI: 549300DXHIJQMD5WFW18 | Long             | EC               | CORP              | US        |     28680 | NS      | $3989674.80   | 2.19%             |  |  |  | No            |                  1 | On Loan: No      |
| BANIJAY ENTERTAINMENT          | Banijay Entertainment SAS                                                      | CUSIP: 060335AB2<br>LEI: 969500CE0IE2EZ5VBG13 | Long             | DBT              | CORP              | FR        |    750000 | PA      | $778038.00    | 0.43%             | 2029-05-01      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| BURFORD CAPITAL GLBL FIN       | Burford Capital Global Finance LLC                                             | CUSIP: 12116LAA7<br>LEI: 549300JVAOO67CSCH406 | Long             | DBT              | CORP              | US        |    250000 | PA      | $247855.50    | 0.14%             | 2028-04-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Terreno Realty Corp            | Terreno Realty Corp                                                            | CUSIP: 88146M101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     53250 | NS      | $2985727.50   | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc                   | Alphabet Inc                                                                   | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     39915 | NS      | $7080521.85   | 3.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Materials Inc          | Applied Materials Inc                                                          | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |     17390 | NS      | $3183587.30   | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Boeing Co/The                  | Boeing Co/The                                                                  | CUSIP: 097023105<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | EC               | CORP              | US        |      7475 | NS      | $1566236.75   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRSTCASH INC                  | FirstCash Inc                                                                  | CUSIP: 31944TAA8<br>LEI: 549300V2X3UU7K0DG350 | Long             | DBT              | CORP              | US        |    500000 | PA      | $499261.90    | 0.27%             | 2030-01-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| GGAM FINANCE LTD               | GGAM Finance Ltd                                                               | CUSIP: 36170JAB2<br>LEI: 254900X2QXEN0FVXRF65 | Long             | DBT              | CORP              | KY        |    500000 | PA      | $505478.50    | 0.28%             | 2026-05-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| HECLA MINING CO                | Hecla Mining Co                                                                | CUSIP: 422704AH9<br>LEI: 5493009Y6HOBZD1QD537 | Long             | DBT              | CORP              | US        |    500000 | PA      | $504275.50    | 0.28%             | 2028-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC              | Herc Holdings Inc                                                              | CUSIP: 42704LAA2<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |    500000 | PA      | $500442.07    | 0.27%             | 2027-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC              | Herc Holdings Inc                                                              | CUSIP: 42704LAF1<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1044570.14   | 0.57%             | 2030-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Intuit Inc                     | Intuit Inc                                                                     | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               | CORP              | US        |      3799 | NS      | $2992206.37   | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co            | JPMorgan Chase & Co                                                            | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |     12790 | NS      | $3707948.90   | 2.04%             |  |  |  | No            |                  1 | On Loan: No      |
| KEN GARFF AUTOMOTIVE LLC       | Ken Garff Automotive LLC                                                       | CUSIP: 48850PAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $494306.95    | 0.27%             | 2028-09-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Labcorp Holdings Inc           | Labcorp Holdings Inc                                                           | CUSIP: 504922105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6975 | NS      | $1831007.25   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| OXFORD FIN LLC/CO-ISS II       | Oxford Finance LLC / Oxford Finance Co-Issuer II Inc                           | CUSIP: 69145LAC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $503088.00    | 0.28%             | 2027-02-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| UPBOUND GROUP INC              | Upbound Group Inc                                                              | CUSIP: 76009NAL4<br>LEI: 529900QUHE15UQNCCJ63 | Long             | DBT              | CORP              | US        |    600000 | PA      | $590782.14    | 0.32%             | 2029-02-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| WESCO DISTRIBUTION INC         | WESCO Distribution Inc                                                         | CUSIP: 95081QAP9<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |    250000 | PA      | $253321.93    | 0.14%             | 2028-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| ADIENT GLOBAL HOLDINGS         | Adient Global Holdings Ltd                                                     | CUSIP: 00687YAB1<br>LEI: 213800VA38VCKE6M8790 | Long             | DBT              | CORP              | JE        |    350000 | PA      | $361048.10    | 0.20%             | 2028-04-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ALLEGIANT TRAVEL CO            | Allegiant Travel Co                                                            | CUSIP: 01748XAD4<br>LEI: 549300JM9OZXOHWL2K18 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1000898.00   | 0.55%             | 2027-08-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Brown & Brown Inc              | Brown & Brown Inc                                                              | CUSIP: 115236101<br>LEI: 549300PC8KTJ71XKFY89 | Long             | EC               | CORP              | US        |     28365 | NS      | $3144827.55   | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| CALUMET SPECIALTY PROD         | Calumet Specialty Products Partners LP / Calumet Finance Corp                  | CUSIP: 131477AW1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $249494.88    | 0.14%             | 2028-07-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                  | Carnival Corp                                                                  | CUSIP: 143658BR2<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    250000 | PA      | $252763.34    | 0.14%             | 2029-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| DIRECTV FIN LLC/COINC          | Directv Financing LLC / Directv Financing Co-Obligor Inc                       | CUSIP: 25461LAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    700000 | PA      | $697645.07    | 0.38%             | 2027-08-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Novartis AG                    | Novartis AG                                                                    | CUSIP: 66987V109<br>LEI: 5493007HIVTX6SY6XD66 | Long             | EC               | CORP              | CH        |     24480 | NS      | $2962324.80   | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| OKTA INC                       | Okta Inc                                                                       | CUSIP: 679295AD7<br>LEI: 549300N8J06I8MRHU620 | Long             | DBT              | CORP              | US        |    287000 | PA      | $285565.00    | 0.16%             | 2025-09-01      | Fixed         | 0.12%                 | No            |                  2 | On Loan: No      |
| OWENS & MINOR INC              | Owens & Minor Inc                                                              | CUSIP: 690732AF9<br>LEI: 549300LMT5KQQXCEZ733 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $893692.00    | 0.49%             | 2029-03-31      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PENSKE AUTOMOTIVE GROUP        | Penske Automotive Group Inc                                                    | CUSIP: 70959WAJ2<br>LEI: 549300W7UTQ0M4C7LB15 | Long             | DBT              | CORP              | US        |    750000 | PA      | $747974.03    | 0.41%             | 2025-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GOODYEAR TIRE & RUBBER         | Goodyear Tire & Rubber Co/The                                                  | CUSIP: 382550BF7<br>LEI: 5493002BI0S2ZQUY3437 | Long             | DBT              | CORP              | US        |    138000 | PA      | $138440.30    | 0.08%             | 2026-05-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FIRSTCASH INC                  | FirstCash Inc                                                                  | CUSIP: 33767DAD7<br>LEI: 549300V2X3UU7K0DG350 | Long             | DBT              | CORP              | US        |    500000 | PA      | $518052.24    | 0.28%             | 2032-03-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| GENESIS ENERGY LP/FIN          | Genesis Energy LP / Genesis Energy Finance Corp                                | CUSIP: 37185LAL6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    450000 | PA      | $456982.20    | 0.25%             | 2028-02-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| KBR INC                        | KBR Inc                                                                        | CUSIP: 48242WAC0<br>LEI: 254900OFQDXZRKRCV808 | Long             | DBT              | CORP              | US        |    750000 | PA      | $722029.21    | 0.40%             | 2028-09-30      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| LENDINGTREE INC                | LendingTree Inc                                                                | CUSIP: 52603BAD9<br>LEI: 549300ISY5YHUJZTON08 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $993750.00    | 0.55%             | 2025-07-15      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| Federated Hermes US Treasury C | Federated Hermes US Treasury Cash Reserves                                     | CUSIP: 60934N682<br>LEI: 25490003NTA1P9CI5X97 | Long             | STIV             | RF                | US        |   2910977 | NS      | $2910976.68   | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| NEW HOME CO INC/THE            | New Home Co Inc/The                                                            | CUSIP: 645370AG2<br>LEI: 549300PLCE8TB3TVRQ85 | Long             | DBT              | CORP              | US        |    250000 | PA      | $255109.50    | 0.14%             | 2030-11-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| PERENTI FINANCE PTY LTD        | Perenti Finance Pty Ltd                                                        | CUSIP: 71367VAB5<br>LEI: 894500ZDIIAOXSQHE612 | Long             | DBT              | CORP              | AU        |    500000 | PA      | $517480.00    | 0.28%             | 2029-04-26      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| SIMMONS FOOD INC/SIMMONS       | Simmons Foods Inc/Simmons Prepared Foods Inc/Simmons Pet Food Inc/Simmons Feed | CUSIP: 82873MAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    494000 | PA      | $466886.61    | 0.26%             | 2029-03-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Old Dominion Freight Line Inc  | Old Dominion Freight Line Inc                                                  | CUSIP: 679580100<br>LEI: 5299009TWK32WE417T96 | Long             | EC               | CORP              | US        |      9854 | NS      | $1599304.20   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| ONEMAIN FINANCE CORP           | OneMain Finance Corp                                                           | CUSIP: 85172FAN9<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    242000 | PA      | $245732.85    | 0.13%             | 2026-03-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Accenture PLC                  | Accenture PLC                                                                  | CUSIP: N/A<br>LEI: 5493000EWHDSR3MZWH98       | Long             | EC               | CORP              | IE        |      7384 | NS      | $2207003.76   | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| CPI CG INC                     | CPI CG Inc                                                                     | CUSIP: 12598FAC3<br>LEI: 254900H3R50WH1B1LB48 | Long             | DBT              | CORP              | US        |    600000 | PA      | $640500.00    | 0.35%             | 2029-07-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| EMPIRE COMMUNITIES CORP        | Empire Communities Corp                                                        | CUSIP: 29163VAG8<br>LEI: 549300JM1L6KK2QFP273 | Long             | DBT              | CORP              | CA        |    500000 | PA      | $511948.32    | 0.28%             | 2029-05-01      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| FAIR ISAAC CORP                | Fair Isaac Corp                                                                | CUSIP: 303250AE4<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | DBT              | CORP              | US        |    500000 | PA      | $500657.50    | 0.27%             | 2026-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Ferguson Enterprises Inc       | Ferguson Enterprises Inc                                                       | CUSIP: 31488V107<br>LEI: 2138003JYQMRP3SLX189 | Long             | EC               | CORP              | US        |     14670 | NS      | $3194392.50   | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |
| GLOBAL PART/GLP FINANCE        | Global Partners LP / GLP Finance Corp                                          | CUSIP: 37954FAL8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    800000 | PA      | $812577.66    | 0.45%             | 2033-07-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| ICAHN ENTERPRISES/FIN          | Icahn Enterprises LP / Icahn Enterprises Finance Corp                          | CUSIP: 451102BT3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    178000 | PA      | $176885.17    | 0.10%             | 2026-05-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| PITNEY BOWES INC               | Pitney Bowes Inc                                                               | CUSIP: 724479AQ3<br>LEI: 549300N2O26NW4ST6W55 | Long             | DBT              | CORP              | US        |    725000 | PA      | $739864.68    | 0.41%             | 2029-03-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| ROLLS-ROYCE PLC                | Rolls-Royce PLC                                                                | CUSIP: 77578JAB4<br>LEI: X57JK1U580XATGR67572 | Long             | DBT              | CORP              | GB        |    572000 | PA      | $571230.37    | 0.31%             | 2025-10-14      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| TUTOR PERINI CORP              | Tutor Perini Corp                                                              | CUSIP: 901109AG3<br>LEI: 549300FHXYVPW8LJ6D98 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1126402.00   | 0.62%             | 2029-04-30      | Fixed         | 11.88%                | No            |                  2 | On Loan: No      |
| UNITED NATURAL FOODS INC       | United Natural Foods Inc                                                       | CUSIP: 911163AA1<br>LEI: 549300GKGW6WPZ282D40 | Long             | DBT              | CORP              | US        |    625000 | PA      | $617295.33    | 0.34%             | 2028-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| WABASH NATIONAL CORP           | Wabash National Corp                                                           | CUSIP: 929566AL1<br>LEI: 5299004ZAWHQZI5XO485 | Long             | DBT              | CORP              | US        |    750000 | PA      | $680085.38    | 0.37%             | 2028-10-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Waste Connections Inc          | Waste Connections Inc                                                          | CUSIP: 94106B101<br>LEI: 549300HDLRTPBQU69P29 | Long             | EC               | CORP              | CA        |     19050 | NS      | $3557016.00   | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| DELUXE CORP                    | Deluxe Corp                                                                    | CUSIP: 248019AW1<br>LEI: KWGNKB8TX9LE5TV29231 | Long             | DBT              | CORP              | US        |    750000 | PA      | $774806.25    | 0.43%             | 2029-09-15      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| EZCORP INC                     | EZCORP Inc                                                                     | CUSIP: 302301AG1<br>LEI: 5493003K6PG3ZQ7TUQ63 | Long             | DBT              | CORP              | US        |    145000 | PA      | $210793.75    | 0.12%             | 2029-12-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR COMPANY             | Ford Motor Co                                                                  | CUSIP: 345370CZ1<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99050.00     | 0.05%             | 2026-03-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| GLOBAL INFRASTRUCTURE SO       | Global Infrastructure Solutions Inc                                            | CUSIP: 37960XAA5<br>LEI: 2549003BGLQITAJ6ZT28 | Long             | DBT              | CORP              | US        |    750000 | PA      | $747676.20    | 0.41%             | 2029-06-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| GOODYEAR TIRE & RUBBER         | Goodyear Tire & Rubber Co/The                                                  | CUSIP: 382550BS9<br>LEI: 5493002BI0S2ZQUY3437 | Long             | DBT              | CORP              | US        |    500000 | PA      | $509464.50    | 0.28%             | 2030-07-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| HAEMONETICS CORP               | Haemonetics Corp                                                               | CUSIP: 405024AB6<br>LEI: 549300ZEL6TXZS6F5F95 | Long             | DBT              | CORP              | US        |    250000 | PA      | $242154.69    | 0.13%             | 2026-03-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| INEOS QUATTRO FINANCE 2        | INEOS Quattro Finance 2 Plc                                                    | CUSIP: 45674GAB0<br>LEI: 213800V48W4Y5MT5Q131 | Long             | DBT              | CORP              | GB        |    500000 | PA      | $507135.18    | 0.28%             | 2029-03-15      | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| JETBLUE AIRWAYS/LOYALTY        | JetBlue Airways Corp / JetBlue Loyalty LP                                      | CUSIP: 476920AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    850000 | PA      | $827158.27    | 0.45%             | 2031-09-20      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| UNITED AIRLINES INC            | United Airlines Inc                                                            | CUSIP: 90932LAG2<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | DBT              | CORP              | US        |    750000 | PA      | $745518.75    | 0.41%             | 2026-04-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| UNITED WHOLESALE MTGE LL       | United Wholesale Mortgage LLC                                                  | CUSIP: 913229AA8<br>LEI: 549300HW662MN1WU8550 | Long             | DBT              | CORP              | US        |    430000 | PA      | $417856.59    | 0.23%             | 2029-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC       | Vistra Operations Co LLC                                                       | CUSIP: 92840VAT9<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    500000 | PA      | $502709.50    | 0.28%             | 2026-12-30      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| XEROX CORPORATION              | Xerox Corp                                                                     | CUSIP: 984121CS0<br>LEI: 4KF48RN45X1OO8UBLY20 | Long             | DBT              | CORP              | US        |    500000 | PA      | $524124.00    | 0.29%             | 2030-10-15      | Fixed         | 10.25%                | No            |                  2 | On Loan: No      |
| CROWN CASTLE INTL CORP         | CROWN CASTLE INTL CORP                                                         | CUSIP: 22823PU19<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |   1000000 | PA      | $999862.30    | 0.55%             | 2025-07-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| FMC CORP DISC COML PAPER 4/A2  | FMC CORP DISC COML PAPER 4/A2                                                  | CUSIP: 34410WU34<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |   1000000 | PA      | $999573.40    | 0.55%             | 2025-07-03      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| GOODYEAR TIRE & RUBBER         | Goodyear Tire & Rubber Co/The                                                  | CUSIP: 382550BN0<br>LEI: 5493002BI0S2ZQUY3437 | Long             | DBT              | CORP              | US        |    500000 | PA      | $488724.60    | 0.27%             | 2029-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HAS CAP INC OPP FUND           | HAS Capital Income Opportunity Fund II LLC                                     | CUSIP: 404083AB3<br>LEI: 549300R3FUKONGRMXM62 | Long             | DBT              | CORP              | US        |    642000 | PA      | $393403.48    | 0.22%             | 2031-08-31      | Fixed         | 8.00%                 | No            |                  3 | On Loan: No      |
| JABIL INC DISC COML PAPER      | JABIL INC DISC COML PAPER                                                      | CUSIP: 46652LUE5<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |   1000000 | PA      | $998024.80    | 0.55%             | 2025-07-14      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| SYNCHRONY FINANCIAL            | Synchrony Financial                                                            | CUSIP: 87165BAG8<br>LEI: 549300RS7EWPM9MA6C78 | Long             | DBT              | CORP              | US        |    500000 | PA      | $499669.65    | 0.27%             | 2025-07-23      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| TIDEWATER INC                  | Tidewater Inc                                                                  | CUSIP: 88642RAE9<br>LEI: 2549000JA5GRUPLMUH98 | Long             | DBT              | CORP              | US        |    500000 | PA      | $514793.65    | 0.28%             | 2030-07-15      | Fixed         | 9.12%                 | No            |                  2 | On Loan: No      |
| ADR TONGJIANG CO. ESCROW       | ADR TONGJIANG CO. ESCROW                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |   2292000 | NS      | $1721.29      | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Salesforce Inc                 | Salesforce Inc                                                                 | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |      8816 | NS      | $2404035.04   | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| SONIC AUTOMOTIVE INC           | Sonic Automotive Inc                                                           | CUSIP: 83545GBD3<br>LEI: 549300NTLRGJ2JCBZU03 | Long             | DBT              | CORP              | US        |    500000 | PA      | $485188.95    | 0.27%             | 2029-11-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Southeastern Grocers Inc       | Southeastern Grocers Inc                                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      7928 | NS      | $317.47       | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Synopsys Inc                   | Synopsys Inc                                                                   | CUSIP: 871607107<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | EC               | CORP              | US        |      4068 | NS      | $2085582.24   | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| US FOODS INC                   | US Foods Inc                                                                   | CUSIP: 90290MAD3<br>LEI: 5493000JOOFAOUY1JZ87 | Long             | DBT              | CORP              | US        |    470000 | PA      | $462147.95    | 0.25%             | 2029-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| UNISYS CORP                    | Unisys Corp                                                                    | CUSIP: 909214BX5<br>LEI: 549300T21W22FIJJOW08 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1034467.43   | 0.57%             | 2031-01-15      | Fixed         | 10.62%                | No            |                  2 | On Loan: No      |
| VAREX IMAGING CORPORATIO       | Varex Imaging Corp                                                             | CUSIP: 92214XAC0<br>LEI: 549300CWYWPVCT8E9W67 | Long             | DBT              | CORP              | US        |   1100000 | PA      | $1114236.20   | 0.61%             | 2027-10-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Visa Inc                       | Visa Inc                                                                       | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |     13170 | NS      | $4676008.50   | 2.57%             |  |  |  | No            |                  1 | On Loan: No      |
| WESTERN DIGITAL CORP           | Western Digital Corp                                                           | CUSIP: 958102AM7<br>LEI: 549300QQXOOYEF89IC56 | Long             | DBT              | CORP              | US        |    106000 | PA      | $105836.90    | 0.06%             | 2026-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| TRAVEL + LEISURE CO            | Travel + Leisure Co                                                            | CUSIP: 98310WAM0<br>LEI: T4VNTWMFQ7JQB65L7T35 | Long             | DBT              | CORP              | US        |    750000 | PA      | $753002.78    | 0.41%             | 2025-10-01      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| NATIONSTAR MTG HLD INC         | Nationstar Mortgage Holdings Inc                                               | CUSIP: 43734LAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $249184.80    | 0.14%             | 2026-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NCR VOYIX CORP                 | NCR Voyix Corp                                                                 | CUSIP: 62886EAY4<br>LEI: 549300YKTY8JX1DV2R67 | Long             | DBT              | CORP              | US        |    175000 | PA      | $173338.32    | 0.10%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NGL ENRGY OP/FIN CORP          | NGL Energy Operating LLC / NGL Energy Finance Corp                             | CUSIP: 62922LAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    750000 | PA      | $758276.25    | 0.42%             | 2029-02-15      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| PRIMO / TRITON WATER HLD       | Primo Water Holdings Inc / Triton Water Holdings Inc                           | CUSIP: 74168RAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $291154.50    | 0.16%             | 2029-04-30      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| ENPRO INC                      | Enpro Inc                                                                      | CUSIP: 29355XAH0<br>LEI: 549300Y5CFT2LKCFDN54 | Long             | DBT              | CORP              | US        |    500000 | PA      | $512410.83    | 0.28%             | 2033-06-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| ENOVA INTERNATIONAL INC        | Enova International Inc                                                        | CUSIP: 29357KAH6<br>LEI: 549300O8XOCQSB49UO63 | Long             | DBT              | CORP              | US        |    400000 | PA      | $429998.80    | 0.24%             | 2028-12-15      | Fixed         | 11.25%                | No            |                  2 | On Loan: No      |
| Microsoft Corp                 | Microsoft Corp                                                                 | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     20214 | NS      | $10054645.74  | 5.52%             |  |  |  | No            |                  1 | On Loan: No      |
| WAYFAIR INC                    | Wayfair Inc                                                                    | CUSIP: 94419LAM3<br>LEI: 54930027N9ZAVYFDHK53 | Long             | DBT              | CORP              | US        |    500000 | PA      | $489250.00    | 0.27%             | 2025-10-01      | Fixed         | 0.62%                 | No            |                  2 | On Loan: No      |
| XEROX HOLDINGS CORP            | Xerox Holdings Corp                                                            | CUSIP: 98421MAC0<br>LEI: 5493000Y33XDVO2CXC18 | Long             | DBT              | CORP              | US        |    500000 | PA      | $378039.51    | 0.21%             | 2029-11-30      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| L3Harris Technologies Inc      | L3Harris Technologies Inc                                                      | CUSIP: 502431109<br>LEI: 549300UTE50ZMDBG8A20 | Long             | EC               | CORP              | US        |     17168 | NS      | $4306421.12   | 2.37%             |  |  |  | No            |                  1 | On Loan: No      |
| MANITOWOC COMPANY INC          | Manitowoc Co Inc/The                                                           | CUSIP: 563571AN8<br>LEI: 2RTSLGQ89VMY18RHX631 | Long             | DBT              | CORP              | US        |    500000 | PA      | $526844.01    | 0.29%             | 2031-10-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| NVIDIA Corp                    | NVIDIA Corp                                                                    | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |     11700 | NS      | $1848483.00   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Linde PLC                      | Linde PLC                                                                      | CUSIP: N/A<br>LEI: 5299003QR1WT0EF88V51       | Long             | EC               | CORP              | US        |      4460 | NS      | $2092542.80   | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-22

**Name of Applicant:** Professionally Managed Portfolios

**Signature:** /s/ Kathryn LaPlante Johnson

**Name of Signer:** Kathryn LaPlante Johnson

**Title:** Assistant Treasurer