# EDGAR Filing Document

**Accession Number:** 0000751173
**File Stem:** 0000940400-26-021762
**Filing Date:** 2026-5
**Character Count:** 176111
**Document Hash:** daba1406e8433db94915b08667f254c8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-021762.hdr.sgml**: 20260528

**ACCESSION NUMBER**: 0000940400-26-021762

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260528

**DATE AS OF CHANGE**: 20260528

**PERIOD START**: 20261231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MANNING & NAPIER FUND, INC.
- **CENTRAL INDEX KEY:** 0000751173

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04087
- **FILM NUMBER:** 261032151

**BUSINESS ADDRESS:**
- **STREET 1:** 290 WOODCLIFF DRIVE
- **CITY:** FAIRPORT
- **STATE:** NY
- **ZIP:** 14450
- **BUSINESS PHONE:** 585-325-6880

**MAIL ADDRESS:**
- **STREET 1:** 290 WOODCLIFF DRIVE
- **CITY:** FAIRPORT
- **STATE:** NY
- **ZIP:** 14450

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MANNING & NAPIER FUND, INC /NY/
- **DATE OF NAME CHANGE:** 20060929

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** EXETER FUND INC /NY/
- **DATE OF NAME CHANGE:** 19980226

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MANNING & NAPIER FUND INC
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### Systematic High Yield Bond Series (Series ID: S000092869)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000260916 | Class Z      | MSYZX           |
| C000260917 | Class I      | MSHIX           |
| C000260918 | Class S      | MSYSX           |
| C000260919 | Class W      | MSHWX           |

## Nport-Ex

**Investment Portfolio - March 31, 2026**

(unaudited)

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;SYSTEMATIC HIGH YIELD BOND SERIES | PRINCIPAL |  |
|  | AMOUNT<sup>1</sup> / |  |
|  | SHARES | VALUE |
| **CORPORATE BONDS - 96.1%** | **CORPORATE BONDS - 96.1%** | **CORPORATE BONDS - 96.1%** |
| **Non-Convertible Corporate Bonds- 96.1%** | **Non-Convertible Corporate Bonds- 96.1%** | **Non-Convertible Corporate Bonds- 96.1%** |
| **Communication Services - 4.8%** | **Communication Services - 4.8%** | **Communication Services - 4.8%** |
| &nbsp;&nbsp;&nbsp;**Diversified Telecommunication Services - 1.1%** | &nbsp;&nbsp;&nbsp;**Diversified Telecommunication Services - 1.1%** | &nbsp;&nbsp;&nbsp;**Diversified Telecommunication Services - 1.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Level 3 Financing, Inc., 6.875%, 6/30/2033<sup>2</sup> | 100000 | $101827 |
| &nbsp;&nbsp;&nbsp;&nbsp;Uniti Services LLC, 7.50%, 10/15/2033<sup>2</sup> | 100000 | 103931 |
| &nbsp;&nbsp;&nbsp;&nbsp;Windstream Services LLC - Windstream Escrow Finance Corp., 8.25%, 10/1/2031<sup>2</sup> | 110000 | 115218 |
|  |  | 320976 |
| &nbsp;&nbsp;&nbsp;**Entertainment - 1.1%** | &nbsp;&nbsp;&nbsp;**Entertainment - 1.1%** | &nbsp;&nbsp;&nbsp;**Entertainment - 1.1%** |
| &nbsp;&nbsp;&nbsp;Discovery Global Holdings, Inc., 4.279%, 3/15/2032 | 110000 | 97388 |
| &nbsp;&nbsp;&nbsp;Rivers Enterprise Borrower LLC - Rivers Enterprise Finance Corp., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 10/15/2030<sup>2</sup> | 105000 | 104848 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.625%, 2/1/2033<sup>2</sup> | 105000 | 104549 |
|  |  | 306785 |
| &nbsp;&nbsp;&nbsp;**Interactive Media & Services - 0.7%** | &nbsp;&nbsp;&nbsp;**Interactive Media & Services - 0.7%** | &nbsp;&nbsp;&nbsp;**Interactive Media & Services - 0.7%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Cars.com, Inc., 6.375%, 11/1/2028<sup>2</sup> | 105000 | 102274 |
| &nbsp;&nbsp;&nbsp;&nbsp;Snap, Inc., 6.875%, 3/15/2034<sup>2</sup> | 100000 | 94019 |
|  |  | 196293 |
| &nbsp;&nbsp;&nbsp;**Media - 1.5%** | &nbsp;&nbsp;&nbsp;**Media - 1.5%** | &nbsp;&nbsp;&nbsp;**Media - 1.5%** |
| &nbsp;&nbsp;&nbsp;&nbsp;CCO Holdings LLC - CCO Holdings Capital Corp., 4.50%, 8/15/2030<sup>2</sup> | 110000 | 102663 |
| &nbsp;&nbsp;&nbsp;&nbsp;Scripps Escrow II, Inc., 3.875%, 1/15/2029<sup>2</sup> | 115000 | 106328 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sirius X.M. Radio LLC, 4.00%, 7/15/2028<sup>2</sup> | 105000 | 101470 |
| &nbsp;&nbsp;&nbsp;&nbsp;Univision Communications, Inc., 8.50%, 7/31/2031<sup>2</sup> | 100000 | 100302 |
|  |  | 410763 |
| &nbsp;&nbsp;&nbsp;**Wireless Telecommunication Services - 0.4%** | &nbsp;&nbsp;&nbsp;**Wireless Telecommunication Services - 0.4%** | &nbsp;&nbsp;&nbsp;**Wireless Telecommunication Services - 0.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Rogers Communications, Inc. (Canada) (5 yr. U.S. Treasury Yield Curve Rate T Note Constant Maturity + 3.590%), 5.25%, 3/15/2082<sup>2,3</sup> | 105000 | 103664 |
| **Total Communication Services** |  | 1338481 |
| **Consumer Discretionary - 20.7%** | **Consumer Discretionary - 20.7%** | **Consumer Discretionary - 20.7%** |
| &nbsp;&nbsp;&nbsp;**Auto Components - 1.8%** | &nbsp;&nbsp;&nbsp;**Auto Components - 1.8%** | &nbsp;&nbsp;&nbsp;**Auto Components - 1.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Adient Global Holdings Ltd., 7.50%, 2/15/2033<sup>2</sup> | 110000 | 111365 |
| &nbsp;&nbsp;&nbsp;American Axle & Manufacturing, Inc., 5.00%, 10/1/2029 | 100000 | 95332 |
| &nbsp;&nbsp;&nbsp;&nbsp;Garrett Motion Holdings, Inc. - Garrett LX I S.A.R.L, 7.75%, 5/31/2032<sup>2</sup> | 95000 | 98263 |
| &nbsp;&nbsp;&nbsp;&nbsp;Phinia, Inc., 6.75%, 4/15/2029<sup>2</sup> | 100000 | 102075 |
| &nbsp;&nbsp;&nbsp;The Goodyear Tire & Rubber Co., 5.25%, 7/15/2031 | 110000 | 98530 |
|  |  | 505565 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | PRINCIPAL |  |  |
|  | AMOUNT<sup>1</sup> / |  |  |
|  | SHARES | VALUE | VALUE |
| **CORPORATE BONDS** (continued) | **CORPORATE BONDS** (continued) | **CORPORATE BONDS** (continued) | **CORPORATE BONDS** (continued) |
| **Non-Convertible Corporate Bonds** (continued) | **Non-Convertible Corporate Bonds** (continued) | **Non-Convertible Corporate Bonds** (continued) | **Non-Convertible Corporate Bonds** (continued) |
| **Consumer Discretionary** (continued) | **Consumer Discretionary** (continued) | **Consumer Discretionary** (continued) | **Consumer Discretionary** (continued) |
| &nbsp;&nbsp;&nbsp;**Automobiles - 0.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Nissan Motor Acceptance Co. LLC, 2.45%, 9/15/2028<sup>2</sup> | 115000 | $| 105112 |
| &nbsp;&nbsp;&nbsp;**Broadline Retail - 1.1%** | &nbsp;&nbsp;&nbsp;**Broadline Retail - 1.1%** | &nbsp;&nbsp;&nbsp;**Broadline Retail - 1.1%** | &nbsp;&nbsp;&nbsp;**Broadline Retail - 1.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Kohl's Corp., 10.00%, 6/1/2030<sup>2</sup> | 95000 |  | 100384 |
| &nbsp;&nbsp;&nbsp;&nbsp;Macy's Retail Holdings LLC, 6.125%, 3/15/2032<sup>2</sup> | 100000 |  | 98445 |
| &nbsp;&nbsp;&nbsp;Nordstrom, Inc., 4.00%, 3/15/2027 | 105000 |  | 102960 |
|  |  |  | 301789 |
| &nbsp;&nbsp;&nbsp;**Diversified Consumer Services - 1.1%** | &nbsp;&nbsp;&nbsp;**Diversified Consumer Services - 1.1%** | &nbsp;&nbsp;&nbsp;**Diversified Consumer Services - 1.1%** | &nbsp;&nbsp;&nbsp;**Diversified Consumer Services - 1.1%** |
| &nbsp;&nbsp;&nbsp;Grand Canyon Univ., 5.125%, 10/1/2028 | 105000 |  | 104222 |
| &nbsp;&nbsp;&nbsp;&nbsp;McGraw-Hill Education, Inc., 7.375%, 9/1/2031<sup>2</sup> | 100000 |  | 102142 |
| &nbsp;&nbsp;&nbsp;&nbsp;StoneMor, Inc., 8.50%, 5/15/2029<sup>2</sup> | 105000 |  | 102379 |
|  |  |  | 308743 |
| &nbsp;&nbsp;&nbsp;**Entertainment - 0.4%** | &nbsp;&nbsp;&nbsp;**Entertainment - 0.4%** | &nbsp;&nbsp;&nbsp;**Entertainment - 0.4%** | &nbsp;&nbsp;&nbsp;**Entertainment - 0.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Mohegan Tribal Gaming Authority - MS Digital Entertainment Holdings LLC, 8.25%, 4/15/2030<sup>2</sup> | 100000 |  | 102153 |
| &nbsp;&nbsp;&nbsp;**Hotels, Restaurants & Leisure - 4.2%** | &nbsp;&nbsp;&nbsp;**Hotels, Restaurants & Leisure - 4.2%** | &nbsp;&nbsp;&nbsp;**Hotels, Restaurants & Leisure - 4.2%** | &nbsp;&nbsp;&nbsp;**Hotels, Restaurants & Leisure - 4.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Bloomin' Brands, Inc. - OSI Restaurant Partners LLC, 5.125%, 4/15/2029<sup>2</sup> | 115000 |  | 102002 |
| &nbsp;&nbsp;&nbsp;&nbsp;Caesars Entertainment, Inc., 6.50%, 2/15/2032<sup>2</sup> | 100000 |  | 98901 |
| &nbsp;&nbsp;&nbsp;&nbsp;Carnival Corp., 5.75%, 8/1/2032<sup>2</sup> | 100000 |  | 100019 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fertitta Entertainment LLC - Fertitta Entertainment Finance Co., Inc., 4.625%, 1/15/2029<sup>2</sup> | 105000 |  | 100471 |
| &nbsp;&nbsp;&nbsp;&nbsp;Jacobs Entertainment, Inc., 6.75%, 2/15/2029<sup>2</sup> | 105000 |  | 97999 |
| &nbsp;&nbsp;&nbsp;&nbsp;Marriott Ownership Resorts, Inc., 6.50%, 10/1/2033<sup>2</sup> | 105000 |  | 99839 |
| &nbsp;&nbsp;&nbsp;MGM Resorts International, 6.50%, 4/15/2032 | 100000 |  | 100812 |
| &nbsp;&nbsp;&nbsp;&nbsp;Ontario Gaming GTA LP - OTG Co-Issuer, Inc. (Canada), 8.00%, 8/1/2030<sup>2</sup> | 100000 |  | 95907 |
| &nbsp;&nbsp;&nbsp;Six Flags Entertainment Corp. - Canada's Wonderland Co. - Magnum Management Corp., 5.25%, 7/15/2029 | 105000 |  | 100416 |
| &nbsp;&nbsp;&nbsp;&nbsp;Travel + Leisure Co., 4.625%, 3/1/2030<sup>2</sup> | 105000 |  | 99982 |
| &nbsp;&nbsp;&nbsp;&nbsp;Viking Ocean Cruises Ship VII Ltd., 5.625%, 2/15/2029<sup>2</sup> | 100000 |  | 99795 |
| &nbsp;&nbsp;&nbsp;&nbsp;Wynn Resorts Finance LLC - Wynn Resorts Capital Corp., 7.125%, 2/15/2031<sup>2</sup> | 100000 |  | 105056 |
|  |  |  | 1201199 |
| &nbsp;&nbsp;&nbsp;**Household Durables - 6.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Adams Homes, Inc., 9.25%, 10/15/2028<sup>2</sup> | 100000 |  | 103094 |
| &nbsp;&nbsp;&nbsp;&nbsp;Ashton Woods USA LLC - Ashton Woods Finance Co., 4.625%, 4/1/2030<sup>2</sup> | 110000 |  | 102375 |

---

**1**

**Investment Portfolio - March 31, 2026**

(unaudited)

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;SYSTEMATIC HIGH YIELD BOND SERIES | PRINCIPAL |  |  |
|  | AMOUNT<sup>1</sup> / |  |  |
|  | SHARES | VALUE | VALUE |
| **CORPORATE BONDS** (continued) | **CORPORATE BONDS** (continued) | **CORPORATE BONDS** (continued) | **CORPORATE BONDS** (continued) |
| **Non-Convertible Corporate Bonds** (continued) | **Non-Convertible Corporate Bonds** (continued) | **Non-Convertible Corporate Bonds** (continued) | **Non-Convertible Corporate Bonds** (continued) |
| **Consumer Discretionary** (continued) | **Consumer Discretionary** (continued) | **Consumer Discretionary** (continued) | **Consumer Discretionary** (continued) |
| &nbsp;&nbsp;&nbsp;**Household Durables** (continued) | &nbsp;&nbsp;&nbsp;**Household Durables** (continued) | &nbsp;&nbsp;&nbsp;**Household Durables** (continued) | &nbsp;&nbsp;&nbsp;**Household Durables** (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;Beazer Homes USA, Inc., 7.50%, 3/15/2031<sup>2</sup>. | 105000 | $| 103319 |
| &nbsp;&nbsp;&nbsp;&nbsp;Brookfield Residential Properties, Inc. - Brookfield Residential U.S. LLC (Canada), 4.875%, 2/15/2030<sup>2</sup> | 95000 |  | 87548 |
| &nbsp;&nbsp;&nbsp;&nbsp;Century Communities, Inc., 3.875%, 8/15/2029<sup>2</sup> | 110000 |  | 103252 |
| &nbsp;&nbsp;&nbsp;&nbsp;Dream Finders Homes, Inc., 8.25%, 8/15/2028<sup>2</sup> | 100000 |  | 101602 |
| &nbsp;&nbsp;&nbsp;&nbsp;Empire Communities Corp. (Canada), 9.75%, 5/1/2029<sup>2</sup> | 95000 |  | 95344 |
| &nbsp;&nbsp;&nbsp;&nbsp;K Hovnanian Enterprises, Inc., 8.00%, 4/1/2031<sup>2</sup> | 105000 |  | 104117 |
| &nbsp;&nbsp;&nbsp;KB Home, 7.25%, 7/15/2030 | 100000 |  | 102036 |
| &nbsp;&nbsp;&nbsp;&nbsp;LGI Homes, Inc., 4.00%, 7/15/2029<sup>2</sup>. | 110000 |  | 98163 |
| &nbsp;&nbsp;&nbsp;M/I Homes, Inc., 3.95%, 2/15/2030 | 110000 |  | 103194 |
| &nbsp;&nbsp;&nbsp;&nbsp;Newell Brands, Inc., 8.50%, 6/1/2028<sup>2</sup> | 95000 |  | 98240 |
| &nbsp;&nbsp;&nbsp;&nbsp;Risewell Homes, Inc., 9.25%, 10/1/2029<sup>2</sup> | 100000 |  | 101176 |
| &nbsp;&nbsp;&nbsp;&nbsp;Taylor Morrison Communities, Inc., 5.75%, 1/15/2028<sup>2</sup> | 100000 |  | 100168 |
| &nbsp;&nbsp;&nbsp;Tri Pointe Homes, Inc., 5.70%, 6/15/2028 | 100000 |  | 100820 |
| &nbsp;&nbsp;&nbsp;&nbsp;Weekley Homes LLC - Weekley Finance Corp., 4.875%, 9/15/2028<sup>2</sup> | 105000 |  | 101579 |
| &nbsp;&nbsp;&nbsp;Whirlpool Corp., 2.40%, 5/15/2031 | 120000 |  | 95936 |
|  |  |  | 1701963 |
| &nbsp;&nbsp;&nbsp;**Internet & Direct Marketing Retail - 0.4%** | &nbsp;&nbsp;&nbsp;**Internet & Direct Marketing Retail - 0.4%** | &nbsp;&nbsp;&nbsp;**Internet & Direct Marketing Retail - 0.4%** | &nbsp;&nbsp;&nbsp;**Internet & Direct Marketing Retail - 0.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Match Group Holdings II LLC, 4.625%, 6/1/2028<sup>2</sup> | 105000 |  | 102696 |
| &nbsp;&nbsp;&nbsp;**Specialty Retail - 3.9%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Academy Ltd., 6.00%, 11/15/2027<sup>2</sup> | 100000 |  | 100012 |
| &nbsp;&nbsp;&nbsp;&nbsp;Advance Auto Parts, Inc., 7.00%, 8/1/2030<sup>2</sup> | 100000 |  | 101257 |
| &nbsp;&nbsp;&nbsp;&nbsp;Asbury Automotive Group, Inc., 5.00%, 2/15/2032<sup>2</sup> | 105000 |  | 99514 |
| &nbsp;&nbsp;&nbsp;&nbsp;Group 1 Automotive, Inc., 6.375%, 1/15/2030<sup>2</sup> | 100000 |  | 100886 |
| &nbsp;&nbsp;&nbsp;&nbsp;Lithia Motors, Inc., 4.375%, 1/15/2031<sup>2</sup> | 105000 |  | 98472 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sonic Automotive, Inc., 4.875%, 11/15/2031<sup>2</sup> | 105000 |  | 99507 |
| &nbsp;&nbsp;&nbsp;&nbsp;Specialty Building Products Holdings LLC - SBP Finance Corp., 7.75%, 10/15/2029<sup>2</sup> | 100000 |  | 86939 |
| &nbsp;&nbsp;&nbsp;&nbsp;The Gap, Inc., 3.625%, 10/1/2029<sup>2</sup> | 110000 |  | 102806 |
| &nbsp;&nbsp;&nbsp;&nbsp;Upbound Group, Inc., 6.375%, 2/15/2029<sup>2</sup> | 105000 |  | 101851 |
| &nbsp;&nbsp;&nbsp;&nbsp;Victra Holdings LLC - Victra Finance Corp., 8.75%, 9/15/2029<sup>2</sup> | 100000 |  | 103654 |
| &nbsp;&nbsp;&nbsp;&nbsp;Wayfair LLC, 7.75%, 9/15/2030<sup>2</sup> | 100000 |  | 104052 |
|  |  |  | 1098950 |
| &nbsp;&nbsp;&nbsp;**Textiles, Apparel & Luxury Goods - 1.4%** | &nbsp;&nbsp;&nbsp;**Textiles, Apparel & Luxury Goods - 1.4%** | &nbsp;&nbsp;&nbsp;**Textiles, Apparel & Luxury Goods - 1.4%** | &nbsp;&nbsp;&nbsp;**Textiles, Apparel & Luxury Goods - 1.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Crocs, Inc., 4.125%, 8/15/2031<sup>2</sup> | 110000 |  | 99326 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | PRINCIPAL |  |  |
|  | AMOUNT<sup>1</sup> / |  |  |
|  | SHARES | VALUE | VALUE |
| **CORPORATE BONDS** (continued) | **CORPORATE BONDS** (continued) | **CORPORATE BONDS** (continued) | **CORPORATE BONDS** (continued) |
| **Non-Convertible Corporate Bonds** (continued) | **Non-Convertible Corporate Bonds** (continued) | **Non-Convertible Corporate Bonds** (continued) | **Non-Convertible Corporate Bonds** (continued) |
| **Consumer Discretionary** (continued) | **Consumer Discretionary** (continued) | **Consumer Discretionary** (continued) | **Consumer Discretionary** (continued) |
| &nbsp;&nbsp;&nbsp;**Textiles, Apparel & Luxury Goods** (continued) | &nbsp;&nbsp;&nbsp;**Textiles, Apparel & Luxury Goods** (continued) | &nbsp;&nbsp;&nbsp;**Textiles, Apparel & Luxury Goods** (continued) | &nbsp;&nbsp;&nbsp;**Textiles, Apparel & Luxury Goods** (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;Kontoor Brands, Inc., 4.125%, 11/15/2029<sup>2</sup> | 105000 | $| 99443 |
| &nbsp;&nbsp;&nbsp;&nbsp;Under Armour, Inc., 7.25%, 7/15/2030<sup>2</sup> | 100000 |  | 101107 |
| &nbsp;&nbsp;&nbsp;VF Corp., 2.95%, 4/23/2030 | 120000 |  | 107162 |
|  |  |  | 407038 |
| **Total Consumer Discretionary** |  |  | 5835208 |
| **Consumer Staples - 2.1%** | **Consumer Staples - 2.1%** | **Consumer Staples - 2.1%** | **Consumer Staples - 2.1%** |
| &nbsp;&nbsp;&nbsp;**Food Products - 0.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Darling Ingredients, Inc., 5.25%, 4/15/2027<sup>2</sup> | 100000 |  | 99926 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fiesta Purchaser, Inc., 7.875%, 3/1/2031<sup>2</sup> | 100000 |  | 101777 |
|  |  |  | 201703 |
| &nbsp;&nbsp;&nbsp;**Personal Care Products - 1.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;BellRing Brands, Inc., 7.00%, 3/15/2030<sup>2</sup> | 100000 |  | 100329 |
| &nbsp;&nbsp;&nbsp;&nbsp;Edgewell Personal Care Co., 4.125%, 4/1/2029<sup>2</sup> | 105000 |  | 99201 |
| &nbsp;&nbsp;&nbsp;&nbsp;HLF Financing S.A.R.L LLC - Herbalife International, Inc., 4.875%, 6/1/2029<sup>2</sup> | 100000 |  | 93712 |
|  |  |  | 293242 |
| &nbsp;&nbsp;&nbsp;**Tobacco - 0.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Turning Point Brands, Inc., 7.625%, 3/15/2032<sup>2</sup> | 95000 |  | 97553 |
| **Total Consumer Staples** |  |  | 592498 |
| **Energy - 11.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp;**Energy Equipment & Services - 1.8%** | &nbsp;&nbsp;&nbsp;**Energy Equipment & Services - 1.8%** | &nbsp;&nbsp;&nbsp;**Energy Equipment & Services - 1.8%** | &nbsp;&nbsp;&nbsp;**Energy Equipment & Services - 1.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Noble Finance II LLC, 8.00%, 4/15/2030<sup>2</sup> | 100000 |  | 103205 |
| &nbsp;&nbsp;&nbsp;Oceaneering International, Inc., 6.00%, 2/1/2028 | 100000 |  | 100468 |
| &nbsp;&nbsp;&nbsp;&nbsp;Precision Drilling Corp.(Canada), 6.875%, 1/15/2029<sup>2</sup> | 105000 |  | 105719 |
| &nbsp;&nbsp;&nbsp;&nbsp;Tidewater, Inc., 9.125%, 7/15/2030<sup>2</sup> | 95000 |  | 101419 |
| &nbsp;&nbsp;&nbsp;&nbsp;WBI Operating LLC, 6.25%, 10/15/2030<sup>2</sup> | 105000 |  | 105400 |
|  |  |  | 516211 |
| &nbsp;&nbsp;&nbsp;**Oil, Gas & Consumable Fuels - 9.4%** | &nbsp;&nbsp;&nbsp;**Oil, Gas & Consumable Fuels - 9.4%** | &nbsp;&nbsp;&nbsp;**Oil, Gas & Consumable Fuels - 9.4%** | &nbsp;&nbsp;&nbsp;**Oil, Gas & Consumable Fuels - 9.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Antero Midstream Partners LP - Antero Midstream Finance Corp., 5.75%, 1/15/2028<sup>2</sup> | 100000 |  | 99950 |
| &nbsp;&nbsp;&nbsp;&nbsp;Ascent Resources Utica Holdings LLC - ARU Finance Corp., 6.625%, 7/15/2033<sup>2</sup> | 100000 |  | 101515 |
| &nbsp;&nbsp;&nbsp;&nbsp;CITGO Petroleum Corp., 8.375%, 1/15/2029<sup>2</sup> | 100000 |  | 103231 |
| &nbsp;&nbsp;&nbsp;&nbsp;CNX Midstream Partners LP, 4.75%, 4/15/2030<sup>2</sup> | 110000 |  | 104825 |
| &nbsp;&nbsp;&nbsp;&nbsp;Crescent Energy Finance LLC, 7.75%, 7/31/2029<sup>2</sup> | 100000 |  | 100715 |

---

**2**

**Investment Portfolio - March 31, 2026**

(unaudited)

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;SYSTEMATIC HIGH YIELD BOND SERIES | PRINCIPAL |  |
|  | AMOUNT<sup>1</sup> / |  |
|  | SHARES | VALUE |
| **CORPORATE BONDS** (continued) | **CORPORATE BONDS** (continued) | **CORPORATE BONDS** (continued) |
| **Non-Convertible Corporate Bonds** (continued) | **Non-Convertible Corporate Bonds** (continued) | **Non-Convertible Corporate Bonds** (continued) |
| **Energy** (continued) | **Energy** (continued) | **Energy** (continued) |
| &nbsp;&nbsp;&nbsp;**Oil, Gas & Consumable Fuels** (continued) | &nbsp;&nbsp;&nbsp;**Oil, Gas & Consumable Fuels** (continued) | &nbsp;&nbsp;&nbsp;**Oil, Gas & Consumable Fuels** (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;Delek Logistics Partners LP - Delek Logistics Finance Corp., 8.625%, 3/15/2029<sup>2</sup> | 100000 | $103501 |
| &nbsp;&nbsp;&nbsp;&nbsp;Excelerate Energy LP, 8.00%, 5/15/2030<sup>2</sup> | 95000 | 99475 |
| &nbsp;&nbsp;&nbsp;&nbsp;Global Partners LP - GLP Finance Corp., 7.125%, 7/1/2033<sup>2</sup> | 100000 | 100842 |
| &nbsp;&nbsp;&nbsp;&nbsp;Hess Midstream Operations LP, 5.875%, 3/1/2028<sup>2</sup> | 100000 | 100784 |
| &nbsp;&nbsp;&nbsp;&nbsp;Howard Midstream Energy Partners LLC, 7.375%, 7/15/2032<sup>2</sup> | 100000 | 103439 |
| &nbsp;&nbsp;&nbsp;&nbsp;Kraken Oil & Gas Partners LLC, 7.625%, 8/15/2029<sup>2</sup> | 100000 | 101609 |
| &nbsp;&nbsp;&nbsp;&nbsp;Magnolia Oil & Gas Operating LLC - Magnolia Oil & Gas Finance Corp., 6.875%, 12/1/2032<sup>2</sup> | 100000 | 102771 |
| &nbsp;&nbsp;&nbsp;&nbsp;Martin Midstream Partners LP - Martin Midstream Finance Corp., 11.50%, 2/15/2028<sup>2</sup> | 100000 | 102893 |
| &nbsp;&nbsp;&nbsp;&nbsp;Matador Resources Co., 6.50%, 4/15/2032<sup>2</sup> | 100000 | 101064 |
| &nbsp;&nbsp;&nbsp;Murphy Oil USA, Inc., 5.625%, 5/1/2027 | 105000 | 104887 |
| &nbsp;&nbsp;&nbsp;&nbsp;NGL Energy Operating LLC - NGL Energy Finance Corp., 8.125%, 2/15/2029<sup>2</sup> | 100000 | 103090 |
| &nbsp;&nbsp;&nbsp;&nbsp;Northriver Midstream Finance LP (Canada), 6.75%, 7/15/2032<sup>2</sup> | 100000 | 100563 |
| &nbsp;&nbsp;&nbsp;NuStar Logistics LP, 5.625%, 4/28/2027 | 100000 | 100192 |
| &nbsp;&nbsp;&nbsp;PBF Holding Co. LLC - PBF Finance Corp., 6.00%, 2/15/2028 | 105000 | 104717 |
| &nbsp;&nbsp;&nbsp;&nbsp;Rockies Express Pipeline LLC, 4.80%, 5/15/2030<sup>2</sup> | 105000 | 100639 |
| &nbsp;&nbsp;&nbsp;&nbsp;SM Energy Co., 6.75%, 8/1/2029<sup>2</sup>. | 100000 | 101577 |
| &nbsp;&nbsp;&nbsp;Sunoco LP - Sunoco Finance Corp., 5.875%, 3/15/2028 | 105000 | 104865 |
| &nbsp;&nbsp;&nbsp;&nbsp;Talos Production, Inc., 9.00%, 2/1/2029<sup>2</sup> | 100000 | 104069 |
| &nbsp;&nbsp;&nbsp;&nbsp;Venture Global Calcasieu Pass LLC, 6.25%, 1/15/2030<sup>2</sup> | 95000 | 97159 |
| &nbsp;&nbsp;&nbsp;&nbsp;Venture Global LNG, Inc., 8.125%, 6/1/2028<sup>2</sup> | 100000 | 102393 |
| &nbsp;&nbsp;&nbsp;&nbsp;Wildfire Intermediate Holdings LLC, 7.50%, 10/15/2029<sup>2</sup> | 100000 | 101133 |
|  |  | 2651898 |
| **Total Energy** |  | 3168109 |
| **Financials - 11.8%** |  |  |
| &nbsp;&nbsp;&nbsp;**Banks - 0.4%** |  |  |
| &nbsp;&nbsp;&nbsp;Popular, Inc. (Puerto Rico), 7.25%, 3/13/2028 | 100000 | 103475 |
| &nbsp;&nbsp;&nbsp;**Capital Markets - 2.5%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Aretec Group, Inc., 10.00%, 8/15/2030<sup>2</sup> | 95000 | 100917 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | PRINCIPAL |  |  |
|  | AMOUNT<sup>1</sup> / |  |  |
|  | SHARES | VALUE | VALUE |
| **CORPORATE BONDS** (continued) | **CORPORATE BONDS** (continued) | **CORPORATE BONDS** (continued) | **CORPORATE BONDS** (continued) |
| **Non-Convertible Corporate Bonds** (continued) | **Non-Convertible Corporate Bonds** (continued) | **Non-Convertible Corporate Bonds** (continued) | **Non-Convertible Corporate Bonds** (continued) |
| **Financials** (continued) | **Financials** (continued) | **Financials** (continued) | **Financials** (continued) |
| &nbsp;&nbsp;&nbsp;**Capital Markets** (continued) | &nbsp;&nbsp;&nbsp;**Capital Markets** (continued) | &nbsp;&nbsp;&nbsp;**Capital Markets** (continued) | &nbsp;&nbsp;&nbsp;**Capital Markets** (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;Brookfield Property REIT, Inc. - BPR Cumulus LLC - BPR Nimbus LLC - GGSI Sellco LL, 4.50%, 4/1/2027<sup>2</sup> | 105000 | $| 102848 |
| &nbsp;&nbsp;&nbsp;&nbsp;Coinbase Global, Inc., 3.625%, 10/1/2031<sup>2</sup> | 115000 |  | 97225 |
| &nbsp;&nbsp;&nbsp;&nbsp;Freedom Mortgage Holdings LLC, 9.25%, 2/1/2029<sup>2</sup> | 100000 |  | 101400 |
| &nbsp;&nbsp;&nbsp;Icahn Enterprises LP - Icahn Enterprises Finance Corp., 5.25%, 5/15/2027 | 105000 |  | 102905 |
| &nbsp;&nbsp;&nbsp;&nbsp;Stonex Escrow Issuer LLC, 6.875%, 7/15/2032<sup>2</sup> | 100000 |  | 101314 |
| &nbsp;&nbsp;&nbsp;&nbsp;VFH Parent LLC - Valor Co-Issuer, Inc., 7.50%, 6/15/2031<sup>2</sup> | 100000 |  | 102827 |
|  |  |  | 709436 |
| &nbsp;&nbsp;&nbsp;**Consumer Finance - 2.9%** | &nbsp;&nbsp;&nbsp;**Consumer Finance - 2.9%** | &nbsp;&nbsp;&nbsp;**Consumer Finance - 2.9%** | &nbsp;&nbsp;&nbsp;**Consumer Finance - 2.9%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Bread Financial Holdings, Inc., 6.75%, 5/15/2031<sup>2</sup> | 105000 |  | 104191 |
| &nbsp;&nbsp;&nbsp;&nbsp;Credit Acceptance Corp., 6.625%, 3/15/2030<sup>2</sup> | 100000 |  | 97512 |
| &nbsp;&nbsp;&nbsp;&nbsp;EZCORP, Inc., 7.375%, 4/1/2032<sup>2</sup> | 100000 |  | 104306 |
| &nbsp;&nbsp;&nbsp;&nbsp;FirstCash, Inc., 4.625%, 9/1/2028<sup>2</sup> | 105000 |  | 103153 |
| &nbsp;&nbsp;&nbsp;&nbsp;Jefferson Capital Holdings LLC, 8.25%, 5/15/2030<sup>2</sup> | 100000 |  | 104307 |
| &nbsp;&nbsp;&nbsp;OneMain Finance Corp., 3.875%, 9/15/2028 | 105000 |  | 99826 |
| &nbsp;&nbsp;&nbsp;&nbsp;PROG Holdings, Inc., 6.00%, 11/15/2029<sup>2</sup> | 105000 |  | 100126 |
| &nbsp;&nbsp;&nbsp;SLM Corp., 6.50%, 1/31/2030 | 110000 |  | 108237 |
|  |  |  | 821658 |
| &nbsp;&nbsp;&nbsp;**Financial Services - 4.3%** | &nbsp;&nbsp;&nbsp;**Financial Services - 4.3%** | &nbsp;&nbsp;&nbsp;**Financial Services - 4.3%** | &nbsp;&nbsp;&nbsp;**Financial Services - 4.3%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Block, Inc., 5.625%, 8/15/2030<sup>2</sup> | 100000 |  | 99460 |
| &nbsp;&nbsp;&nbsp;&nbsp;Coinbase Global, Inc., 3.375%, 10/1/2028<sup>2</sup> | 110000 |  | 103015 |
| &nbsp;&nbsp;&nbsp;&nbsp;CPI C.G., Inc., 10.00%, 7/15/2029<sup>2</sup> | 100000 |  | 105397 |
| &nbsp;&nbsp;&nbsp;&nbsp;CrossCountry Intermediate HoldCo LLC, 6.50%, 10/1/2030<sup>2</sup> | 105000 |  | 100086 |
| &nbsp;&nbsp;&nbsp;&nbsp;PennyMac Financial Services, Inc., 6.75%, 2/15/2034<sup>2</sup> | 100000 |  | 93654 |
| &nbsp;&nbsp;&nbsp;&nbsp;Provident Funding Associates LP - PFG Finance Corp., 9.75%, 9/15/2029<sup>2</sup> | 95000 |  | 97542 |
| &nbsp;&nbsp;&nbsp;&nbsp;Rocket Mortgage LLC - Rocket Mortgage Co-Issuer, Inc., 3.625%, 3/1/2029<sup>2</sup> | 105000 |  | 99491 |
| &nbsp;&nbsp;&nbsp;&nbsp;Shift4 Payments LLC - Shift4 Payments Finance Sub, Inc., 6.75%, 8/15/2032<sup>2</sup> | 100000 |  | 98411 |
| &nbsp;&nbsp;&nbsp;&nbsp;United Wholesale Mortgage LLC, 5.75%, 6/15/2027<sup>2</sup> | 105000 |  | 103380 |
| &nbsp;&nbsp;&nbsp;&nbsp;UWM Holdings LLC, 6.625%, 2/1/2030<sup>2</sup> | 100000 |  | 94308 |
| &nbsp;&nbsp;&nbsp;&nbsp;Walker & Dunlop, Inc., 6.625%, 4/1/2033<sup>2</sup> | 105000 |  | 102203 |
| &nbsp;&nbsp;&nbsp;&nbsp;WEX, Inc., 6.50%, 3/15/2033<sup>2</sup> | 100000 |  | 97913 |
|  |  |  | 1194860 |

---

**3**

**Investment Portfolio - March 31, 2026**

(unaudited)

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;SYSTEMATIC HIGH YIELD BOND SERIES | PRINCIPAL |  |
|  | AMOUNT<sup>1</sup> / |  |
|  | SHARES | VALUE |
| **CORPORATE BONDS** (continued) | **CORPORATE BONDS** (continued) | **CORPORATE BONDS** (continued) |
| **Non-Convertible Corporate Bonds** (continued) | **Non-Convertible Corporate Bonds** (continued) | **Non-Convertible Corporate Bonds** (continued) |
| **Financials** (continued) | **Financials** (continued) | **Financials** (continued) |
| &nbsp;&nbsp;&nbsp;**Insurance - 1.0%** | &nbsp;&nbsp;&nbsp;**Insurance - 1.0%** | &nbsp;&nbsp;&nbsp;**Insurance - 1.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;APH Somerset Investor 2 LLC - APH2 Somerset Investor 2 LLC - APH3 Somerset Investor, 7.875%, 11/1/2029<sup>2</sup> | 100000 | $90378 |
| &nbsp;&nbsp;&nbsp;&nbsp;Assurant, Inc., (3 mo. CME Term U.S. Secured Overnight Financing Rate + 4.135%), 7.00%, 3/27/2048<sup>3</sup> | 100000 | 101244 |
| &nbsp;&nbsp;&nbsp;&nbsp;Wilton RE Ltd., (5 yr. U.S. Treasury Yield Curve Rate T Note Constant Maturity + 5.266%), 6.00%<sup>2,3,4</sup> | 100000 | 96296 |
|  |  | 287918 |
| &nbsp;&nbsp;&nbsp;**Mortgage Real Estate Investment Trusts (REITS) - 0.7%** | &nbsp;&nbsp;&nbsp;**Mortgage Real Estate Investment Trusts (REITS) - 0.7%** | &nbsp;&nbsp;&nbsp;**Mortgage Real Estate Investment Trusts (REITS) - 0.7%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Blackstone Mortgage Trust, Inc., 7.75%, 12/1/2029<sup>2</sup> | 100000 | 104907 |
| &nbsp;&nbsp;&nbsp;&nbsp;Starwood Property Trust, Inc., 5.25%, 10/15/2028<sup>2</sup> | 100000 | 99158 |
|  |  | 204065 |
| **Total Financials** |  | 3321412 |
| **Health Care - 5.4%** |  |  |
| &nbsp;&nbsp;&nbsp;**Health Care Equipment & Supplies - 0.7%** | &nbsp;&nbsp;&nbsp;**Health Care Equipment & Supplies - 0.7%** | &nbsp;&nbsp;&nbsp;**Health Care Equipment & Supplies - 0.7%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Bausch + Lomb Corp., 8.375%, 10/1/2028<sup>2</sup> | 100000 | 103480 |
| &nbsp;&nbsp;&nbsp;&nbsp;Embecta Corp., 5.00%, 2/15/2030<sup>2</sup> | 110000 | 101825 |
|  |  | 205305 |
| &nbsp;&nbsp;&nbsp;**Health Care Providers & Services - 2.9%** | &nbsp;&nbsp;&nbsp;**Health Care Providers & Services - 2.9%** | &nbsp;&nbsp;&nbsp;**Health Care Providers & Services - 2.9%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Acadia Healthcare Co., Inc., 7.375%, 3/15/2033<sup>2</sup> | 95000 | 97428 |
| &nbsp;&nbsp;&nbsp;&nbsp;AdaptHealth LLC, 4.625%, 8/1/2029<sup>2</sup> | 110000 | 104926 |
| &nbsp;&nbsp;&nbsp;&nbsp;AMN Healthcare, Inc., 4.00%, 4/15/2029<sup>2</sup> | 110000 | 103408 |
| &nbsp;&nbsp;&nbsp;&nbsp;Community Health Systems, Inc., 5.25%, 5/15/2030<sup>2</sup> | 110000 | 103647 |
| &nbsp;&nbsp;&nbsp;&nbsp;Molina Healthcare, Inc., 4.375%, 6/15/2028<sup>2</sup> | 105000 | 101614 |
| &nbsp;&nbsp;&nbsp;&nbsp;Prime Healthcare Services, Inc., 9.375%, 9/1/2029<sup>2</sup> | 100000 | 103656 |
| &nbsp;&nbsp;&nbsp;&nbsp;Radiology Partners, Inc., 8.50%, 7/15/2032<sup>2</sup> | 100000 | 101503 |
| &nbsp;&nbsp;&nbsp;&nbsp;Select Medical Corp., 6.25%, 12/1/2032<sup>2</sup> | 105000 | 99802 |
|  |  | 815984 |
| &nbsp;&nbsp;&nbsp;**Life Science Tools & Service - 1.1%** | &nbsp;&nbsp;&nbsp;**Life Science Tools & Service - 1.1%** | &nbsp;&nbsp;&nbsp;**Life Science Tools & Service - 1.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Avantor Funding, Inc., 4.625%, 7/15/2028<sup>2</sup> | 105000 | 102461 |
| &nbsp;&nbsp;&nbsp;&nbsp;Charles River Laboratories International, Inc., 4.25%, 5/1/2028<sup>2</sup> | 105000 | 102548 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sotera Health Holdings LLC, 7.375%, 6/1/2031<sup>2</sup> | 95000 | 98327 |
|  |  | 303336 |

---

---

| | | |
|:---|:---|:---|
|  | PRINCIPAL |  |
|  | AMOUNT<sup>1</sup> / |  |
|  | SHARES | VALUE |
| **CORPORATE BONDS** (continued) | **CORPORATE BONDS** (continued) | **CORPORATE BONDS** (continued) |
| **Non-Convertible Corporate Bonds** (continued) | **Non-Convertible Corporate Bonds** (continued) | **Non-Convertible Corporate Bonds** (continued) |
| **Health Care** (continued) | **Health Care** (continued) | **Health Care** (continued) |
| &nbsp;&nbsp;&nbsp;**Pharmaceuticals - 0.7%** | &nbsp;&nbsp;&nbsp;**Pharmaceuticals - 0.7%** | &nbsp;&nbsp;&nbsp;**Pharmaceuticals - 0.7%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Endo Finance Holding LP, 8.50%, 4/15/2031<sup>2</sup> | 95000 | $99450 |
| &nbsp;&nbsp;&nbsp;Perrigo Finance Unlimited Co., 6.125%, 9/30/2032 | 105000 | 95839 |
|  |  | 195289 |
| **Total Health Care** |  | 1519914 |
| **Industrials - 16.0%** |  |  |
| &nbsp;&nbsp;&nbsp;**Aerospace & Defense - 0.3%** |  |  |
| &nbsp;&nbsp;&nbsp;ATI, Inc., 5.875%, 12/1/2027 | 100000 | 100064 |
| &nbsp;&nbsp;&nbsp;**Air Freight & Logistics - 1.1%** | &nbsp;&nbsp;&nbsp;**Air Freight & Logistics - 1.1%** | &nbsp;&nbsp;&nbsp;**Air Freight & Logistics - 1.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Clue Opco LLC, 9.50%, 10/15/2031<sup>2</sup> | 100000 | 97211 |
| &nbsp;&nbsp;&nbsp;&nbsp;Rand Parent LLC, 8.50%, 2/15/2030<sup>2</sup> | 100000 | 102886 |
| &nbsp;&nbsp;&nbsp;&nbsp;Stonepeak Nile Parent LLC, 7.25%, 3/15/2032<sup>2</sup> | 95000 | 98612 |
|  |  | 298709 |
| &nbsp;&nbsp;&nbsp;**Building Products - 2.1%** | &nbsp;&nbsp;&nbsp;**Building Products - 2.1%** | &nbsp;&nbsp;&nbsp;**Building Products - 2.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Builders FirstSource, Inc., 6.75%, 5/15/2035<sup>2</sup> | 95000 | 95055 |
| &nbsp;&nbsp;&nbsp;&nbsp;Knife River Corp., 7.75%, 5/1/2031<sup>2</sup> | 100000 | 103683 |
| &nbsp;&nbsp;&nbsp;&nbsp;Masterbrand, Inc., 7.00%, 7/15/2032<sup>2</sup> | 100000 | 97887 |
| &nbsp;&nbsp;&nbsp;&nbsp;Miter Brands Acquisition Holdco, Inc. - MIWD Borrower LLC, 6.75%, 4/1/2032<sup>2</sup> | 100000 | 95738 |
| &nbsp;&nbsp;&nbsp;Resideo Funding, Inc., 6.50%, 7/15/2032<sup>2</sup> | 105000 | 103606 |
| &nbsp;&nbsp;&nbsp;&nbsp;Smyrna Ready Mix Concrete LLC, 6.00%, 11/1/2028<sup>2</sup> | 100000 | 99285 |
|  |  | 595254 |
| &nbsp;&nbsp;&nbsp;**Commercial Services & Supplies - 2.9%** | &nbsp;&nbsp;&nbsp;**Commercial Services & Supplies - 2.9%** | &nbsp;&nbsp;&nbsp;**Commercial Services & Supplies - 2.9%** |
| &nbsp;&nbsp;&nbsp;CoreCivic, Inc., 8.25%, 4/15/2029 | 100000 | 104360 |
| &nbsp;&nbsp;&nbsp;&nbsp;Deluxe Corp., 8.125%, 9/15/2029<sup>2</sup> | 100000 | 104114 |
| &nbsp;&nbsp;&nbsp;&nbsp;Garda World Security Corp. (Canada), 6.50%, 1/15/2031<sup>2</sup> | 100000 | 101533 |
| &nbsp;&nbsp;&nbsp;&nbsp;HNI Corp., 5.125%, 1/18/2029 (Acquired 12/08/2025, cost $98,073)<sup>5</sup> | 97000 | 96140 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pitney Bowes, Inc., 7.25%, 3/15/2029<sup>2</sup> | 105000 | 105191 |
| &nbsp;&nbsp;&nbsp;&nbsp;RB Global Holdings, Inc. (Canada), 6.75%, 3/15/2028<sup>2</sup> | 100000 | 101567 |
| &nbsp;&nbsp;&nbsp;The GEO Group, Inc., 10.25%, 4/15/2031 | 90000 | 96038 |
| &nbsp;&nbsp;&nbsp;&nbsp;VT Topco, Inc., 8.50%, 8/15/2030<sup>2</sup> | 100000 | 101598 |
|  |  | 810541 |
| &nbsp;&nbsp;&nbsp;**Construction & Engineering - 0.3%** | &nbsp;&nbsp;&nbsp;**Construction & Engineering - 0.3%** | &nbsp;&nbsp;&nbsp;**Construction & Engineering - 0.3%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Brundage-Bone Concrete Pumping Holdings, Inc., 7.50%, 2/1/2032<sup>2</sup> | 100000 | 100985 |
| &nbsp;&nbsp;&nbsp;**Electrical Equipment - 0.4%** | &nbsp;&nbsp;&nbsp;**Electrical Equipment - 0.4%** | &nbsp;&nbsp;&nbsp;**Electrical Equipment - 0.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Atkore, Inc., 4.25%, 6/1/2031<sup>2</sup> | 110000 | 103233 |

---

**4**

**Investment Portfolio - March 31, 2026**

(unaudited)

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;SYSTEMATIC HIGH YIELD BOND SERIES | PRINCIPAL |  |
|  | AMOUNT<sup>1</sup> / |  |
|  | SHARES | VALUE |
| **CORPORATE BONDS** (continued) | **CORPORATE BONDS** (continued) | **CORPORATE BONDS** (continued) |
| **Non-Convertible Corporate Bonds** (continued) | **Non-Convertible Corporate Bonds** (continued) | **Non-Convertible Corporate Bonds** (continued) |
| **Industrials** (continued) | **Industrials** (continued) | **Industrials** (continued) |
| &nbsp;&nbsp;&nbsp;**Ground Transportation - 0.7%** | &nbsp;&nbsp;&nbsp;**Ground Transportation - 0.7%** | &nbsp;&nbsp;&nbsp;**Ground Transportation - 0.7%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Avis Budget Car Rental LLC - Avis Budget Finance, Inc., 4.75%, 4/1/2028<sup>2</sup> | 105000 | $102204 |
| &nbsp;&nbsp;&nbsp;XPO CNW, Inc., 6.70%, 5/1/2034 | 95000 | 97318 |
|  |  | 199522 |
| &nbsp;&nbsp;&nbsp;**Machinery - 2.8%** | &nbsp;&nbsp;&nbsp;**Machinery - 2.8%** | &nbsp;&nbsp;&nbsp;**Machinery - 2.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp;ATS Corp. (Canada), 4.125%, 12/15/2028<sup>2</sup> | 105000 | 101248 |
| &nbsp;&nbsp;&nbsp;&nbsp;Columbus McKinnon Corp., 7.125%, 2/1/2033<sup>2</sup> | 100000 | 99794 |
| &nbsp;&nbsp;&nbsp;&nbsp;JB Poindexter & Co., Inc., 8.75%, 12/15/2031<sup>2</sup> | 95000 | 96424 |
| &nbsp;&nbsp;&nbsp;&nbsp;New Flyer Holdings, Inc. (Canada), 9.25%, 7/1/2030<sup>2</sup> | 95000 | 101540 |
| &nbsp;&nbsp;&nbsp;&nbsp;Park-Ohio Industries, Inc., 8.50%, 8/1/2030<sup>2</sup> | 100000 | 102250 |
| &nbsp;&nbsp;&nbsp;&nbsp;The Manitowoc Co., Inc., 9.25%, 10/1/2031<sup>2</sup> | 110000 | 114934 |
| &nbsp;&nbsp;&nbsp;&nbsp;TMS International Corp., 6.25%, 4/15/2029<sup>2</sup> | 105000 | 102211 |
| &nbsp;&nbsp;&nbsp;&nbsp;Wabash National Corp., 4.50%, 10/15/2028<sup>2</sup> | 95000 | 83636 |
|  |  | 802037 |
| &nbsp;&nbsp;&nbsp;**Passenger Airlines - 1.0%** | &nbsp;&nbsp;&nbsp;**Passenger Airlines - 1.0%** | &nbsp;&nbsp;&nbsp;**Passenger Airlines - 1.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Allegiant Travel Co., 7.25%, 8/15/2027<sup>2</sup> | 76000 | 76238 |
| &nbsp;&nbsp;&nbsp;&nbsp;American Airlines, Inc. - AAdvantage Loyalty IP Ltd., 5.75%, 4/20/2029<sup>2</sup> | 105000 | 104182 |
| &nbsp;&nbsp;&nbsp;&nbsp;VistaJet Malta Finance plc - Vista Management Holding, Inc. (Switzerland), 6.375%, 2/1/2030<sup>2</sup> | 105000 | 90639 |
|  |  | 271059 |
| &nbsp;&nbsp;&nbsp;**Professional Services - 0.4%** | &nbsp;&nbsp;&nbsp;**Professional Services - 0.4%** | &nbsp;&nbsp;&nbsp;**Professional Services - 0.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp;KBR, Inc., 4.75%, 9/30/2028<sup>2</sup> | 105000 | 102825 |
| &nbsp;&nbsp;&nbsp;**Trading Companies & Distributors - 3.7%** | &nbsp;&nbsp;&nbsp;**Trading Companies & Distributors - 3.7%** | &nbsp;&nbsp;&nbsp;**Trading Companies & Distributors - 3.7%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Azorra Finance Ltd., 7.25%, 1/15/2031<sup>2</sup> | 100000 | 100897 |
| &nbsp;&nbsp;&nbsp;&nbsp;BlueLinx Holdings, Inc., 6.00%, 11/15/2029<sup>2</sup> | 100000 | 97023 |
| &nbsp;&nbsp;&nbsp;&nbsp;GGAM Finance Ltd. (Ireland), 8.00%, 6/15/2028<sup>2</sup> | 95000 | 98557 |
| &nbsp;&nbsp;&nbsp;&nbsp;Herc Holdings, Inc., 5.75%, 3/15/2031<sup>2</sup> | 105000 | 103477 |
| &nbsp;&nbsp;&nbsp;&nbsp;Long Ridge Energy LLC, 8.75%, 2/15/2032<sup>2</sup> | 110000 | 115365 |
| &nbsp;&nbsp;&nbsp;&nbsp;Phoenix Aviation Capital Ltd. (Ireland), 9.25%, 7/15/2030<sup>2</sup> | 95000 | 95523 |
| &nbsp;&nbsp;&nbsp;&nbsp;QXO Building Products, Inc., 6.75%, 4/30/2032<sup>2</sup> | 100000 | 102015 |
| &nbsp;&nbsp;&nbsp;&nbsp;TrueNoord Capital DAC (Ireland), 8.75%, 3/1/2030<sup>2</sup> | 95000 | 96889 |
| &nbsp;&nbsp;&nbsp;&nbsp;Veritiv Operating Co., 10.50%, 11/30/2030<sup>2</sup> | 115000 | 119415 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | PRINCIPAL |  |  |
|  | AMOUNT<sup>1</sup> / |  |  |
|  | SHARES | VALUE | VALUE |
| **CORPORATE BONDS** (continued) | **CORPORATE BONDS** (continued) | **CORPORATE BONDS** (continued) | **CORPORATE BONDS** (continued) |
| **Non-Convertible Corporate Bonds** (continued) | **Non-Convertible Corporate Bonds** (continued) | **Non-Convertible Corporate Bonds** (continued) | **Non-Convertible Corporate Bonds** (continued) |
| **Industrials** (continued) | **Industrials** (continued) | **Industrials** (continued) | **Industrials** (continued) |
| &nbsp;&nbsp;&nbsp;**Trading Companies & Distributors** (continued) | &nbsp;&nbsp;&nbsp;**Trading Companies & Distributors** (continued) | &nbsp;&nbsp;&nbsp;**Trading Companies & Distributors** (continued) | &nbsp;&nbsp;&nbsp;**Trading Companies & Distributors** (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;Windsor Holdings III LLC, 8.50%, 6/15/2030<sup>2</sup> | 100000 | $| 103575 |
|  |  |  | 1032736 |
| &nbsp;&nbsp;&nbsp;**Transporation Infrastructure - 0.3%** | &nbsp;&nbsp;&nbsp;**Transporation Infrastructure - 0.3%** | &nbsp;&nbsp;&nbsp;**Transporation Infrastructure - 0.3%** | &nbsp;&nbsp;&nbsp;**Transporation Infrastructure - 0.3%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Railworks Holdings LP - Railworks Rally, Inc., 8.25%, 11/15/2028<sup>2</sup> | 100000 |  | 99861 |
| **Total Industrials** |  |  | 4516826 |
| **Information Technology - 6.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp;**Communication Equipment - 0.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Viasat, Inc., 5.625%, 4/15/2027<sup>2</sup> | 100000 |  | 99571 |
| &nbsp;&nbsp;&nbsp;**IT Services - 1.5%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;ASGN, Inc., 4.625%, 5/15/2028<sup>2</sup> | 105000 |  | 101629 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fortress Intermediate 3, Inc., 7.50%, 6/1/2031<sup>2</sup> | 100000 |  | 99591 |
| &nbsp;&nbsp;&nbsp;&nbsp;Go Daddy Operating Co LLC - GD Finance Co., Inc., 3.50%, 3/1/2029<sup>2</sup> | 110000 |  | 102425 |
| &nbsp;&nbsp;&nbsp;&nbsp;Insight Enterprises, Inc., 6.625%, 5/15/2032<sup>2</sup> | 110000 |  | 106082 |
|  |  |  | 409727 |
| &nbsp;&nbsp;&nbsp;**Semiconductors & Semiconductor Equipment - 0.4%** | &nbsp;&nbsp;&nbsp;**Semiconductors & Semiconductor Equipment - 0.4%** | &nbsp;&nbsp;&nbsp;**Semiconductors & Semiconductor Equipment - 0.4%** | &nbsp;&nbsp;&nbsp;**Semiconductors & Semiconductor Equipment - 0.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Entegris, Inc., 4.375%, 4/15/2028<sup>2</sup> | 105000 |  | 102892 |
| &nbsp;&nbsp;&nbsp;**Software - 4.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cipher Compute LLC, 7.125%, 11/15/2030<sup>2</sup> | 100000 |  | 103635 |
| &nbsp;&nbsp;&nbsp;&nbsp;Consensus Cloud Solutions, Inc., 6.50%, 10/15/2028<sup>2</sup> | 105000 |  | 103963 |
| &nbsp;&nbsp;&nbsp;Crowdstrike Holdings, Inc., 3.00%, 2/15/2029 | 110000 |  | 104667 |
| &nbsp;&nbsp;&nbsp;&nbsp;Elastic N.V., 4.125%, 7/15/2029<sup>2</sup> | 110000 |  | 103209 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fair Isaac Corp., 4.00%, 6/15/2028<sup>2</sup> | 105000 |  | 101933 |
| &nbsp;&nbsp;&nbsp;&nbsp;Flash Compute LLC, 7.25%, 12/31/2030<sup>2</sup> | 100000 |  | 100867 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gen Digital, Inc., 6.75%, 9/30/2027<sup>2</sup> | 105000 |  | 105485 |
| &nbsp;&nbsp;&nbsp;&nbsp;PTC, Inc., 4.00%, 2/15/2028<sup>2</sup> | 105000 |  | 102548 |
| &nbsp;&nbsp;&nbsp;&nbsp;RingCentral, Inc., 8.50%, 8/15/2030<sup>2</sup> | 95000 |  | 99371 |
| &nbsp;&nbsp;&nbsp;&nbsp;UKG, Inc., 6.875%, 2/1/2031<sup>2</sup> | 105000 |  | 102937 |
| &nbsp;&nbsp;&nbsp;&nbsp;WULF Compute LLC, 7.75%, 10/15/2030<sup>2</sup> | 95000 |  | 100389 |
|  |  |  | 1129004 |
| **Total Information Technology** |  |  | 1741194 |
| **Materials - 8.9%** |  |  |  |
| &nbsp;&nbsp;&nbsp;**Chemicals - 3.6%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Celanese U.S. Holdings LLC, 7.05%, 11/15/2030 | 100000 |  | 105768 |
| &nbsp;&nbsp;&nbsp;&nbsp;CVR Partners LP - CVR Nitrogen Finance Corp., 6.125%, 6/15/2028<sup>2</sup> | 105000 |  | 104507 |
| &nbsp;&nbsp;&nbsp;Huntsman International LLC, 4.50%, 5/1/2029 | 105000 |  | 98343 |
| &nbsp;&nbsp;&nbsp;&nbsp;Ingevity Corp., 3.875%, 11/1/2028<sup>2</sup> | 100000 |  | 95899 |

---

**5**

**Investment Portfolio - March 31, 2026**

(unaudited)

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;SYSTEMATIC HIGH YIELD BOND SERIES | PRINCIPAL |  |  |
|  | AMOUNT<sup>1</sup> / |  |  |
|  | SHARES | VALUE | VALUE |
| **CORPORATE BONDS** (continued) | **CORPORATE BONDS** (continued) | **CORPORATE BONDS** (continued) | **CORPORATE BONDS** (continued) |
| **Non-Convertible Corporate Bonds** (continued) | **Non-Convertible Corporate Bonds** (continued) | **Non-Convertible Corporate Bonds** (continued) | **Non-Convertible Corporate Bonds** (continued) |
| **Materials** (continued) | **Materials** (continued) | **Materials** (continued) | **Materials** (continued) |
| &nbsp;&nbsp;&nbsp;**Chemicals** (continued) | &nbsp;&nbsp;&nbsp;**Chemicals** (continued) | &nbsp;&nbsp;&nbsp;**Chemicals** (continued) | &nbsp;&nbsp;&nbsp;**Chemicals** (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;Methanex U.S. Operations, Inc., 6.25%, 3/15/2032<sup>2</sup> | 100000 | $| 102338 |
| &nbsp;&nbsp;&nbsp;&nbsp;Minerals Technologies, Inc., 5.00%, 7/1/2028<sup>2</sup> | 105000 |  | 104078 |
| &nbsp;&nbsp;&nbsp;Olin Corp., 5.00%, 2/1/2030 | 105000 |  | 100797 |
| &nbsp;&nbsp;&nbsp;&nbsp;Qnity Electronics, Inc., 5.75%, 8/15/2032<sup>2</sup> | 100000 |  | 100125 |
| &nbsp;&nbsp;&nbsp;&nbsp;The Chemours Co., 4.625%, 11/15/2029<sup>2</sup> | 110000 |  | 103332 |
| &nbsp;&nbsp;&nbsp;&nbsp;WR Grace Holdings LLC, 6.625%, 8/15/2032<sup>2</sup> | 105000 |  | 102320 |
|  |  |  | 1017507 |
| &nbsp;&nbsp;&nbsp;**Construction Materials - 1.0%** | &nbsp;&nbsp;&nbsp;**Construction Materials - 1.0%** | &nbsp;&nbsp;&nbsp;**Construction Materials - 1.0%** | &nbsp;&nbsp;&nbsp;**Construction Materials - 1.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;AmeriTex HoldCo Intermediate LLC, 7.625%, 8/15/2033<sup>2</sup> | 100000 |  | 103138 |
| &nbsp;&nbsp;&nbsp;&nbsp;CP Atlas Buyer, Inc., 9.75%, 7/15/2030<sup>2</sup> | 100000 |  | 94161 |
| &nbsp;&nbsp;&nbsp;&nbsp;Standard Industries, Inc., 4.375%, 7/15/2030<sup>2</sup> | 105000 |  | 99136 |
|  |  |  | 296435 |
| &nbsp;&nbsp;&nbsp;**Containers & Packaging - 3.2%** | &nbsp;&nbsp;&nbsp;**Containers & Packaging - 3.2%** | &nbsp;&nbsp;&nbsp;**Containers & Packaging - 3.2%** | &nbsp;&nbsp;&nbsp;**Containers & Packaging - 3.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Ardagh Group S.A., 9.50%, 12/1/2030<sup>2</sup> | 95000 |  | 99306 |
| &nbsp;&nbsp;&nbsp;&nbsp;Cascades Inc. - Cascades USA, Inc. (Canada), 6.75%, 7/15/2030<sup>2</sup> | 105000 |  | 105910 |
| &nbsp;&nbsp;&nbsp;&nbsp;Clydesdale Acquisition Holdings, Inc., 6.75%, 4/15/2032<sup>2</sup> | 100000 |  | 94596 |
| &nbsp;&nbsp;&nbsp;&nbsp;Graphic Packaging International LLC, 3.75%, 2/1/2030<sup>2</sup> | 110000 |  | 101160 |
| &nbsp;&nbsp;&nbsp;Mauser Packaging Solutions Holding Co., |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.875%, 4/15/2027<sup>2</sup> | 100000 |  | 97161 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.875%, 4/15/2030<sup>2</sup> | 100000 |  | 99963 |
| &nbsp;&nbsp;&nbsp;&nbsp;OI European Group B.V., 4.75%, 2/15/2030<sup>2</sup> | 100000 |  | 92864 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sealed Air Corp. - Sealed Air Corp. U.S., 7.25%, 2/15/2031<sup>2</sup> | 100000 |  | 105365 |
| &nbsp;&nbsp;&nbsp;&nbsp;TriMas Corp., 4.125%, 4/15/2029<sup>2</sup> | 105000 |  | 99947 |
|  |  |  | 896272 |
| &nbsp;&nbsp;&nbsp;**Metals & Mining - 1.1%** | &nbsp;&nbsp;&nbsp;**Metals & Mining - 1.1%** | &nbsp;&nbsp;&nbsp;**Metals & Mining - 1.1%** | &nbsp;&nbsp;&nbsp;**Metals & Mining - 1.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Champion Iron Canada, Inc. (Canada), 7.875%, 7/15/2032<sup>2</sup> | 100000 |  | 103857 |
| &nbsp;&nbsp;&nbsp;&nbsp;Cleveland-Cliffs, Inc., 4.875%, 3/1/2031<sup>2</sup> | 110000 |  | 98891 |
| &nbsp;&nbsp;&nbsp;&nbsp;Novelis Corp., 4.75%, 1/30/2030<sup>2</sup> | 105000 |  | 99449 |
|  |  |  | 302197 |
| **Total Materials** |  |  | 2512411 |
| **Real Estate - 5.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp;**Health Care REITs - 0.3%** | &nbsp;&nbsp;&nbsp;**Health Care REITs - 0.3%** | &nbsp;&nbsp;&nbsp;**Health Care REITs - 0.3%** | &nbsp;&nbsp;&nbsp;**Health Care REITs - 0.3%** |
| &nbsp;&nbsp;&nbsp;Diversified Healthcare Trust, 4.375%, 3/1/2031 | 115000 |  | 101880 |

---

---

| | | |
|:---|:---|:---|
|  | PRINCIPAL |  |
|  | AMOUNT<sup>1</sup> / |  |
|  | SHARES | VALUE |
| **CORPORATE BONDS** (continued) | **CORPORATE BONDS** (continued) | **CORPORATE BONDS** (continued) |
| **Non-Convertible Corporate Bonds** (continued) | **Non-Convertible Corporate Bonds** (continued) | **Non-Convertible Corporate Bonds** (continued) |
| **Real Estate** (continued) | **Real Estate** (continued) | **Real Estate** (continued) |
| &nbsp;&nbsp;&nbsp;**Hotel & Resort REITs - 0.7%** | &nbsp;&nbsp;&nbsp;**Hotel & Resort REITs - 0.7%** | &nbsp;&nbsp;&nbsp;**Hotel & Resort REITs - 0.7%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Park Intermediate Holdings LLC - PK Domestic Property LLC - PK Finance Co-Issuer, 7.00%, 2/1/2030<sup>2</sup> | 100000 | $101203 |
| &nbsp;&nbsp;&nbsp;&nbsp;RLJ Lodging Trust LP, 4.00%, 9/15/2029<sup>2</sup> | 110000 | 103372 |
|  |  | 204575 |
| &nbsp;&nbsp;&nbsp;**Office REITs - 0.7%** | &nbsp;&nbsp;&nbsp;**Office REITs - 0.7%** | &nbsp;&nbsp;&nbsp;**Office REITs - 0.7%** |
| &nbsp;&nbsp;&nbsp;Brandywine Operating Partnership LP, 8.30%, 3/15/2028 | 95000 | 96670 |
| &nbsp;&nbsp;&nbsp;Hudson Pacific Properties LP, 3.95%, 11/1/2027 | 105000 | 99113 |
|  |  | 195783 |
| &nbsp;&nbsp;&nbsp;**Real Estate Management & Development - 2.2%** | &nbsp;&nbsp;&nbsp;**Real Estate Management & Development - 2.2%** | &nbsp;&nbsp;&nbsp;**Real Estate Management & Development - 2.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Cushman & Wakefield U.S. Borrower LLC, 6.75%, 5/15/2028<sup>2</sup> | 100000 | 100149 |
| &nbsp;&nbsp;&nbsp;&nbsp;Five Point Operating Co. LP, 8.00%, 10/1/2030<sup>2</sup> | 110000 | 109809 |
| &nbsp;&nbsp;&nbsp;&nbsp;Greystar Real Estate Partners LLC, 7.75%, 9/1/2030<sup>2</sup> | 100000 | 104336 |
| &nbsp;&nbsp;&nbsp;&nbsp;Hunt Companies, Inc., 5.25%, 4/15/2029<sup>2</sup> | 105000 | 98887 |
| &nbsp;&nbsp;&nbsp;Newmark Group, Inc., 7.50%, 1/12/2029 | 95000 | 99626 |
| &nbsp;&nbsp;&nbsp;&nbsp;The Howard Hughes Corp., 4.125%, 2/1/2029<sup>2</sup> | 105000 | 99394 |
|  |  | 612201 |
| &nbsp;&nbsp;&nbsp;**Specialized REITs - 1.1%** | &nbsp;&nbsp;&nbsp;**Specialized REITs - 1.1%** | &nbsp;&nbsp;&nbsp;**Specialized REITs - 1.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Millrose Properties, Inc., 6.375%, 8/1/2030<sup>2</sup> | 100000 | 100167 |
| &nbsp;&nbsp;&nbsp;&nbsp;Rithm Capital Corp., 8.00%, 7/15/2030<sup>2</sup> | 100000 | 96670 |
| &nbsp;&nbsp;&nbsp;Vornado Realty LP, 3.40%, 6/1/2031 | 115000 | 102518 |
|  |  | 299355 |
| **Total Real Estate** |  | 1413794 |
| **Utilities - 4.0%** |  |  |
| &nbsp;&nbsp;&nbsp;**Electric Utilities - 0.7%** |  |  |
| &nbsp;&nbsp;&nbsp;NRG Energy, Inc., 5.75%, 1/15/2028 | 100000 | 100257 |
| &nbsp;&nbsp;&nbsp;PG&E Corp., 5.25%, 7/1/2030 | 105000 | 103609 |
|  |  | 203866 |
| &nbsp;&nbsp;&nbsp;**Gas Utilities - 1.8%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;AmeriGas Partners LP - AmeriGas Finance Corp., 9.50%, 6/1/2030<sup>2</sup> | 95000 | 100674 |
| &nbsp;&nbsp;&nbsp;&nbsp;Ferrellgas LP - Ferrellgas Finance Corp., 5.875%, 4/1/2029<sup>2</sup> | 110000 | 105489 |
| &nbsp;&nbsp;&nbsp;&nbsp;Suburban Propane Partners LP - Suburban Energy Finance Corp., 6.50%, 12/15/2035<sup>2</sup> | 105000 | 102082 |
| &nbsp;&nbsp;&nbsp;&nbsp;Superior Plus LP - Superior General Partner, Inc. (Canada), 4.50%, 3/15/2029<sup>2</sup> | 105000 | 100218 |

---

**6**

**Investment Portfolio - March 31, 2026**

(unaudited)

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;SYSTEMATIC HIGH YIELD BOND SERIES | PRINCIPAL |  |  |
|  | AMOUNT<sup>1</sup> / |  |  |
|  | SHARES | VALUE | VALUE |
| **CORPORATE BONDS** (continued) | **CORPORATE BONDS** (continued) | **CORPORATE BONDS** (continued) | **CORPORATE BONDS** (continued) |
| **Non-Convertible Corporate Bonds** (continued) |  |  |  |
| **Utilities** (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Gas Utilities** (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;TGNR Intermediate Holdings LLC, 5.50%, 10/15/2029<sup>2</sup> | 105000 | $| 102567 |
|  |  |  | 511030 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Independent Power and Renewable Electricity Producers - 1.5%** | &nbsp;&nbsp;&nbsp;&nbsp;**Independent Power and Renewable Electricity Producers - 1.5%** | &nbsp;&nbsp;&nbsp;&nbsp;**Independent Power and Renewable Electricity Producers - 1.5%** | &nbsp;&nbsp;&nbsp;&nbsp;**Independent Power and Renewable Electricity Producers - 1.5%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Leeward Renewable Energy Operations LLC, 4.25%, 7/1/2029<sup>2</sup> | 110000 |  | 102714 |
| &nbsp;&nbsp;&nbsp;&nbsp;TerraForm Power Operating LLC, 5.00%, 1/31/2028<sup>2</sup> | 105000 |  | 103875 |
| &nbsp;&nbsp;&nbsp;&nbsp;VoltaGrid LLC, 7.375%, 11/1/2030<sup>2</sup> | 100000 |  | 103187 |

---

---

| | | |
|:---|:---|:---|
|  | PRINCIPAL |  |
|  | AMOUNT<sup>1</sup> / |  |
|  | SHARES | VALUE |
| **CORPORATE BONDS** (continued) | **CORPORATE BONDS** (continued) | **CORPORATE BONDS** (continued) |
| **Non-Convertible Corporate Bonds** (continued) | **Non-Convertible Corporate Bonds** (continued) | **Non-Convertible Corporate Bonds** (continued) |
| **Utilities** (continued) | **Utilities** (continued) | **Utilities** (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;**Independent Power and Renewable Electricity Producers** (continued) | &nbsp;&nbsp;&nbsp;&nbsp;**Independent Power and Renewable Electricity Producers** (continued) | &nbsp;&nbsp;&nbsp;&nbsp;**Independent Power and Renewable Electricity Producers** (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;XPLR Infrastructure Operating Partners LP, 4.50%, 9/15/2027<sup>2</sup> | 105000 | $103967 |
|  |  | 413743 |
| **Total Utilities** |  | 1128639 |
| **TOTAL CORPORATE BONDS** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Identified Cost $27,606,547) |  | **27088486** |
| **SHORT-TERM INVESTMENT - 2.1%** | **SHORT-TERM INVESTMENT - 2.1%** | **SHORT-TERM INVESTMENT - 2.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Dreyfus Government Cash Management, Institutional Shares, 3.53%<sup>6</sup> |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Identified Cost $595,817) | 595817 | **595817** |
| **TOTAL INVESTMENTS - 98.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Identified Cost $28,202,364) |  | **27684303** |
| **OTHER ASSETS, LESS LIABILITIES - 1.8%** |  | **507102** |
| **NET ASSETS - 100%** |  | $**28191405** |

---

REIT - Real Estate Investment Trust

<sup>1</sup>Amount is stated in USD unless otherwise noted.

<sup>2</sup>Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the "1933 Act") and determined to be liquid under the Fund's Liquidity Risk Management Program. The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at March 31, 2026 was $23,145,855, which represented 82.1% of the Series' Net Assets.

<sup>3</sup>Variable rate security. Security may be issued at a fixed coupon rate, which converts to a variable rate at a specified date. Rate shown is the rate in effect as of March 31, 2026.

<sup>4</sup>Security is perpetual in nature and has no stated maturity date.

<sup>5</sup>Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the "1933 Act") and determined to be illiquid under the Fund's Liquidity Risk Management Program. The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of such securities at March 31, 2026 was $96,140, or 0.3% of the Series' Net Assets.

<sup>6</sup>Rate shown is the current yield as of March 31, 2026.

The Global Industry Classification Standard (GICS) was developed by and is the exclusive property and a service mark of MSCI Inc. (MSCI) and Standard & Poor's, a division of S&P Global Inc. (S&P), and is licensed for use by Manning & Napier when referencing GICS sectors. Neither MSCI, S&P, nor any third party involved in making or compiling the GICS or any GICS classifications makes any express or implied warranties or representations with respect to such standard or classification, nor shall any such party have any liability therefrom.

**Fair Value Information:**

Various inputs are used in determining the value of the Series' assets or liabilities carried at fair value. These inputs are summarized in three broad levels. Level 1 includes quoted prices in active markets for identical assets and liabilities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.). Level 3 includes significant unobservable inputs (including the Series' own assumptions in determining the fair value of investments). A financial instrument's level within the fair value hierarchy is based on the lowest level of any input both individually and in aggregate that is significant to the fair value measurement. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The following is a summary of the valuation levels used for major security types as of March 31, 2026 in valuing the Series' assets or liabilities carried at fair value:

**7**

**Investment Portfolio - March 31, 2026** 

(unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;DESCRIPTION | TOTAL | LEVEL 1 | LEVEL 2 | LEVEL 3 |
| &nbsp;&nbsp;&nbsp;Assets: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Debt securities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate debt: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Communication Services | $1338481 | $— | $1338481 | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer Discretionary | 5835208 |  | 5835208 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer Staples | 592498 |  | 592498 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Energy | 3168109 |  | 3168109 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financials | 3321412 |  | 3321412 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Health Care | 1519914 |  | 1519914 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Industrials | 4516826 |  | 4516826 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Information Technology | 1741194 |  | 1741194 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Materials | 2512411 |  | 2512411 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Real Estate | 1413794 |  | 1413794 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Utilities | 1128639 |  | 1128639 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-Term Investment | 595817 | 595817 |  |  |
| &nbsp;&nbsp;&nbsp;Total assets | $27684303 | $595817 | $27088486 | $— |

---

There were no Level 3 securities held by the Series as of December 31, 2025 or March 31, 2026.

The Investment Portfolio should be read in conjunction with the financial statements and notes to financial statements, which are included in the Series' audited annual report or unaudited semi-annual report. These reports include additional information about the Series' security valuation policies and about certain security types invested in by the Series.

**8**

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Manning & Napier Fund, Inc.

- **b. Investment Company Act file number:** 811-04087

- **c. CIK number of Registrant:** 0000751173

- **d. LEI of Registrant:** 549300B31SDCBSJSN672

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

  - **Street Address 1:** 290 Woodcliff Drive

  - **City:** Fairport

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 14450

  - **Telephone number:** 585-325-6880

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

- **a. Name of Series:** Systematic High Yield Bond Series

- **b. EDGAR series identifier (if any):** S000092869

- **c. LEI of Series:** 9845008CCCFB5151B369

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

- **a. Date of fiscal year-end:** 2026-12-31

- **b. Date as of which information is reported:** 2026-03-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $28233594.30

**Total Liabilities:** $28233.12

**Net Assets:** $28205361.18

**Cash Not Reported:** $5292.98

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 3.38219000 | **1-Year:** 275.40980000 | **5-Year:** 355.33829000 | **10-Year:** 2.87960000 | **30-Year:** 0.00000000

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

- **3-Month:** 42.05374000 | **1-Year:** 2946.21595000 | **5-Year:** 3615.84353000 | **10-Year:** 153.96470000 | **30-Year:** 16.15511000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000260918 | 0.54%                | 0.11%                | -1.22%               |
| Class ID C000260916 | 0.54%                | 0.13%                | -1.19%               |
| Class ID C000260917 | 0.54%                | 0.13%                | -1.30%               |
| Class ID C000260919 | 0.56%                | 0.16%                | -1.16%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $53346.08                | $-31627.21                                 |
| Month 2  | $6568.09                 | $-82064.82                                 |
| Month 3  | $-32200.05               | $-469120.86                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| KBR Inc                                                                              | KBR 4.75 09/30/28 144A                              | CUSIP: 48242WAC0<br>LEI: 254900OFQDXZRKRCV808 | Long             | DBT              | CORP              | US        |    105000 | PA      | $102824.89    | 0.36%             | 2028-09-30      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Shift4 Payments Llc / Shift4 Payments Finance Subordinated Incorporated              | FOUR 6.75 08/15/32 144A                             | CUSIP: 82453AAB3<br>LEI: 254900GTEMR7L40VPI74 | Long             | DBT              | CORP              | US        |    100000 | PA      | $98410.87     | 0.35%             | 2032-08-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Newmark Group Inc                                                                    | NMRK 7.5 01/12/29                                   | CUSIP: 65158NAD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     95000 | PA      | $99625.97     | 0.35%             | 2029-01-12      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Pitney Bowes Inc.                                                                    | PBI 7.25 03/15/29 144A                              | CUSIP: 724479AQ3<br>LEI: 549300N2O26NW4ST6W55 | Long             | DBT              | CORP              | US        |    105000 | PA      | $105191.44    | 0.37%             | 2029-03-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Tri Pointe Homes Inc                                                                 | TPH 5.7 06/15/28                                    | CUSIP: 87265HAG4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $100820.02    | 0.36%             | 2028-06-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| HOWARD HUGHES CORP (THE)                                                             | HHH 4.125 02/01/29 144A                             | CUSIP: 44267DAE7<br>LEI: 549300BVHY25JZC1KI49 | Long             | DBT              | CORP              | US        |    105000 | PA      | $99394.15     | 0.35%             | 2029-02-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| NGL ENERGY OPERATING LLC                                                             | NGL 8.125 02/15/29 144A                             | CUSIP: 62922LAC2<br>LEI: 5493008CQD36WWZJ3O79 | Long             | DBT              | CORP              | US        |    100000 | PA      | $103089.87    | 0.37%             | 2029-02-15      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| Greystar Real Estate Partners LLC                                                    | GRSTAR 7.75 09/01/30 144A                           | CUSIP: 39807UAD8<br>LEI: 254900HGC806SXAS4M46 | Long             | DBT              | CORP              | US        |    100000 | PA      | $104336.55    | 0.37%             | 2030-09-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Talos Prodtn Inc                                                                     | TALO 9 02/01/29 144A                                | CUSIP: 87485LAD6<br>LEI: 549300GZ2DZZE2Y8TX15 | Long             | DBT              | CORP              | US        |    100000 | PA      | $104069.37    | 0.37%             | 2029-02-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Ascent Resources Utica Holdings LLC / ARU Finance Corp                               | ASCRES 6.625 07/15/33 144A                          | CUSIP: 04364VBA0<br>LEI: 549300EGLQ2M2CL7JZ89 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101515.16    | 0.36%             | 2033-07-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| TerraForm Power Operating, LLC                                                       | TERP 5 01/31/28 144A                                | CUSIP: 88104LAE3<br>LEI: 5493000S2OLR3UT5BE13 | Long             | DBT              | CORP              | US        |    105000 | PA      | $103875.25    | 0.37%             | 2028-01-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Weekley Homes LLC/Weekley Finance Corp.                                              | WEEKHM 4.875 09/15/28 144A                          | CUSIP: 948565AD8<br>LEI: 5493009MTTQO8ZN53F13 | Long             | DBT              | CORP              | US        |    105000 | PA      | $101579.28    | 0.36%             | 2028-09-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Beazer Homes USA Inc.                                                                | BZH 7.5 03/15/31 144A                               | CUSIP: 07556QBU8<br>LEI: 549300DUPYT2T0F60I45 | Long             | DBT              | CORP              | US        |    105000 | PA      | $103319.32    | 0.37%             | 2031-03-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Sirius Xm Radio LLC                                                                  | SIRI 4 07/15/28 144A                                | CUSIP: 82967NBJ6<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |    105000 | PA      | $101469.63    | 0.36%             | 2028-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Ardagh Group S A                                                                     | ARGID 9.5 12/01/30 144A                             | CUSIP: 039959AA9<br>LEI: 6354006L1NWUUOPYX274 | Long             | DBT              | CORP              | LU        |     95000 | PA      | $99305.66     | 0.35%             | 2030-12-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Coinbase Global Inc                                                                  | COIN 3.625 10/01/31 144A                            | CUSIP: 19260QAD9<br>LEI: 5493004G3J2SC154DU06 | Long             | DBT              | CORP              | US        |    115000 | PA      | $97225.42     | 0.34%             | 2031-10-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Park-Ohio Industries, Inc.                                                           | PKOH 8.5 08/01/30 144A                              | CUSIP: 700677AS6<br>LEI: 5493006LQUO5SLMNYM18 | Long             | DBT              | CORP              | US        |    100000 | PA      | $102250.21    | 0.36%             | 2030-08-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| BlueLinx Holdings Inc.                                                               | BXC 6 11/15/29 144A                                 | CUSIP: 09624HAA7<br>LEI: 549300YSX7GU28F5I540 | Long             | DBT              | CORP              | US        |    100000 | PA      | $97022.92     | 0.34%             | 2029-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Jacobs Entertainment, Inc.                                                           | JACENT 6.75 02/15/29 144a                           | CUSIP: 469815AK0<br>LEI: 5493004U9JIWY3HSUO63 | Long             | DBT              | CORP              | US        |    105000 | PA      | $97998.58     | 0.35%             | 2029-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Firstcash Inc                                                                        | FCFS 4.625 09/01/28 144A                            | CUSIP: 33767DAB1<br>LEI: 549300V2X3UU7K0DG350 | Long             | DBT              | CORP              | US        |    105000 | PA      | $103153.49    | 0.37%             | 2028-09-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Wabash National Corporation                                                          | WNC 4.5 10/15/28 144A                               | CUSIP: 929566AL1<br>LEI: 5299004ZAWHQZI5XO485 | Long             | DBT              | CORP              | US        |     95000 | PA      | $83635.81     | 0.30%             | 2028-10-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Go Daddy Operating Company LLC / GD Finance Co Inc                                   | GDDY 3.5 03/01/29 144A                              | CUSIP: 38016LAC9<br>LEI: 5493005GJOH8HLL11157 | Long             | DBT              | CORP              | US        |    110000 | PA      | $102425.20    | 0.36%             | 2029-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Goodyear Tire & Rubber Co. The                                                       | GT 5.25 07/15/31                                    | CUSIP: 382550BR1<br>LEI: 5493002BI0S2ZQUY3437 | Long             | DBT              | CORP              | US        |    110000 | PA      | $98530.05     | 0.35%             | 2031-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Qnity Electronics Inc.                                                               | QNTELE 5.75 08/15/32 144A                           | CUSIP: 74743LAA8<br>LEI: 254900RSUG4J9TFFZX53 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100124.66    | 0.35%             | 2032-08-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Hunt Companies, Inc.                                                                 | HUNTCO 5.25 04/15/29 144A                           | CUSIP: 445587AE8<br>LEI: 549300ODPWDNCH5TKM49 | Long             | DBT              | CORP              | US        |    105000 | PA      | $98886.57     | 0.35%             | 2029-04-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| XPO CNW INC                                                                          | CNW 6.7 05/01/34                                    | CUSIP: 12612WAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     95000 | PA      | $97318.56     | 0.35%             | 2034-05-01      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| Acadia Healthcare Company, Inc.                                                      | ACHC 7.375 03/15/33 144A                            | CUSIP: 00404AAQ2<br>LEI: 5493005CW985Y9D0NC11 | Long             | DBT              | CORP              | US        |     95000 | PA      | $97427.83     | 0.35%             | 2033-03-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Clydesdale Acquisition Holdings Inc.                                                 | NOVHOL 6.75 04/15/32 144A                           | CUSIP: 18972EAD7<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |    100000 | PA      | $94595.97     | 0.34%             | 2032-04-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| JB Poindexter & Co Inc                                                               | JBPOIN 8.75 12/15/31 144A                           | CUSIP: 465965AC5<br>LEI: 549300W6P81HOZZGPQ16 | Long             | DBT              | CORP              | US        |     95000 | PA      | $96424.15     | 0.34%             | 2031-12-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Dream Finders Homes Inc                                                              | DFH 8.25 08/15/28 144A                              | CUSIP: 26154DAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $101602.05    | 0.36%             | 2028-08-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Brookfield Property Reit Inc/Bpr Cumulus Llc/Bpr Nimbus Llc/Ggsi Sellco Llc          | BPYU 4.5 04/01/27 144A                              | CUSIP: 11284DAC9<br>LEI: 549300K1JD1LDRNBET48 | Long             | DBT              | CORP              | US        |    105000 | PA      | $102848.39    | 0.36%             | 2027-04-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Venture Global LNG Inc.                                                              | VENLNG 8.125 06/01/28 144A                          | CUSIP: 92332YAA9<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |    100000 | PA      | $102392.97    | 0.36%             | 2028-06-01      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| United Wholesale Mortgage LLC                                                        | UWMLLC 5.75 06/15/27 144A                           | CUSIP: 913229AC4<br>LEI: 549300HW662MN1WU8550 | Long             | DBT              | CORP              | US        |    105000 | PA      | $103380.37    | 0.37%             | 2027-06-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Crocs Inc                                                                            | CROX 4.125 08/15/31 144A                            | CUSIP: 227046AB5<br>LEI: 549300B0J6YCXD63OG72 | Long             | DBT              | CORP              | US        |    110000 | PA      | $99326.21     | 0.35%             | 2031-08-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Crescent Energy Finance LLC                                                          | CRGYFN 7.75 07/31/29 144A                           | CUSIP: 45344LAH6<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100714.87    | 0.36%             | 2029-07-31      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| NRG Energy, Inc.                                                                     | NRG 5.75 01/15/28                                   | CUSIP: 629377CE0<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100257.34    | 0.36%             | 2028-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CVR Partners, LP and CVR Nitrogen Finance Corporation                                | UAN 6.125 06/15/28 144A                             | CUSIP: 12663QAC9<br>LEI: 529900LE0OS06MYQRP11 | Long             | DBT              | CORP              | US        |    105000 | PA      | $104506.96    | 0.37%             | 2028-06-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Discovery Global Holdings Inc.                                                       | WBD 4.279 03/15/32 *                                | CUSIP: 55903VBQ5<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |    110000 | PA      | $97387.53     | 0.35%             | 2032-03-15      | Fixed         | 4.28%                 | No            |                  2 | On Loan: No      |
| Grand Canyon University                                                              | GCUNIV 5.125 10/01/28                               | CUSIP: 38528UAE6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    105000 | PA      | $104222.24    | 0.37%             | 2028-10-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| ATS Corporation (Canada)                                                             | ATSCN 4.125 12/15/28 144A                           | CUSIP: 001940AC9<br>LEI: 5493005KP4RP3IU7HQ41 | Long             | DBT              | CORP              | CA        |    105000 | PA      | $101248.10    | 0.36%             | 2028-12-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Consensus Cloud Solutions Inc                                                        | CCSI 6.5 10/15/28 144A                              | CUSIP: 20848VAB1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    105000 | PA      | $103963.42    | 0.37%             | 2028-10-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Olin Corporation                                                                     | OLN 5 02/01/30                                      | CUSIP: 680665AK2<br>LEI: 549300GKK294V7W57P06 | Long             | DBT              | CORP              | US        |    105000 | PA      | $100796.94    | 0.36%             | 2030-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Leeward Renewable Energy Operations LLC                                              | LEEREN 4.25 07/01/29 144A                           | CUSIP: 524590AA4<br>LEI: 254900EVJU1A57NUX379 | Long             | DBT              | CORP              | US        |    110000 | PA      | $102714.42    | 0.36%             | 2029-07-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Bausch Plus Lomb Corp.                                                               | BLCOCN 8.375 10/01/28 144A                          | CUSIP: 071705AA5<br>LEI: 549300NY6OZM39SO6475 | Long             | DBT              | CORP              | CA        |    100000 | PA      | $103479.97    | 0.37%             | 2028-10-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| K Hovnanian Enterprises Inc                                                          | HOV 8 04/01/31 144A                                 | CUSIP: 48251UAP3<br>LEI: 549300JJCQ0KAI7CJG32 | Long             | DBT              | CORP              | US        |    105000 | PA      | $104117.43    | 0.37%             | 2031-04-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Embecta Corp.                                                                        | EMBC 5 02/15/30 144A                                | CUSIP: 29082KAA3<br>LEI: 549300RPG8GXVDHNXZ62 | Long             | DBT              | CORP              | US        |    110000 | PA      | $101824.61    | 0.36%             | 2030-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Nissan Motor Acceptance Co LLC                                                       | NSANY 2.45 09/15/28 144A                            | CUSIP: 65480CAD7<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |    115000 | PA      | $105112.27    | 0.37%             | 2028-09-15      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| RIVERS ENTERPRISE BORROWER LLC                                                       | RIVENT 6.25 10/15/30 144A                           | CUSIP: 76884GAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    105000 | PA      | $104848.36    | 0.37%             | 2030-10-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Celanese US Holdings Llc                                                             | CE 7.05 11/15/30                                    | CUSIP: 15089QAX2<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |    100000 | PA      | $105767.66    | 0.37%             | 2030-11-15      | Fixed         | 7.05%                 | No            |                  2 | On Loan: No      |
| WBI Operations LLC                                                                   | WBI 6.25 10/15/30 144A                              | CUSIP: 92944BAA9<br>LEI: 254900A83461EGRMOV11 | Long             | DBT              | CORP              | US        |    105000 | PA      | $105400.60    | 0.37%             | 2030-10-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| FIVE POINT OPERATING COMPANY LP                                                      | FPH 8 10/01/30 144A                                 | CUSIP: 33834YAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    110000 | PA      | $109809.10    | 0.39%             | 2030-10-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| ENDO FINANCE HOLDINGS INC                                                            | ENDP 8.5 04/15/31 144A                              | CUSIP: 29281RAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     95000 | PA      | $99449.95     | 0.35%             | 2031-04-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Kohl's Corp.                                                                         | KSS 10 06/01/30 144A                                | CUSIP: 500255AY0<br>LEI: 549300JF6LPRTRJ0FH50 | Long             | DBT              | CORP              | US        |     95000 | PA      | $100384.25    | 0.36%             | 2030-06-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Rogers Communications Inc.                                                           | RCICN V5.25 03/15/82 144A                           | CUSIP: 775109BS9<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |    105000 | PA      | $103664.65    | 0.37%             | 2082-03-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Fertitta Entertainment LLC / Fertitta Entertainment Finance Co Inc.                  | FRTITA 4.625 01/15/29 144A                          | CUSIP: 31556TAA7<br>LEI: 984500A0805D8V551D35 | Long             | DBT              | CORP              | US        |    105000 | PA      | $100471.39    | 0.36%             | 2029-01-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| UKG Inc.                                                                             | ULTI 6.875 02/01/31 144A                            | CUSIP: 90279XAA0<br>LEI: 529900FKHWSTQ1GXK240 | Long             | DBT              | CORP              | US        |    105000 | PA      | $102936.78    | 0.36%             | 2031-02-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Ingevity Corporation                                                                 | NGVT 3.875 11/01/28 144A                            | CUSIP: 45688CAB3<br>LEI: 5493009UTFC4B5IMGF87 | Long             | DBT              | CORP              | US        |    100000 | PA      | $95899.65     | 0.34%             | 2028-11-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| CP Atlas Buyer Inc.                                                                  | AMBATH 9.75 07/15/30 144A                           | CUSIP: 12597YAC3<br>LEI: 2549006ZZ07G0NDDCR36 | Long             | DBT              | CORP              | US        |    100000 | PA      | $94161.02     | 0.33%             | 2030-07-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| Tidewater Inc New                                                                    | TDW 9.125 07/15/30 144A                             | CUSIP: 88642RAE9<br>LEI: 2549000JA5GRUPLMUH98 | Long             | DBT              | CORP              | US        |     95000 | PA      | $101418.70    | 0.36%             | 2030-07-15      | Fixed         | 9.12%                 | No            |                  2 | On Loan: No      |
| Cushman & Wakefield U S Borrower LLC                                                 | CWK 6.75 05/15/28 144A                              | CUSIP: 23166MAA1<br>LEI: 549300870CMN3WI5IF97 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100148.70    | 0.36%             | 2028-05-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Prime Healthcare Services Inc                                                        | PRIHEA 9.375 09/01/29 144A                          | CUSIP: 74165HAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $103656.27    | 0.37%             | 2029-09-01      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| Adams Homes Inc                                                                      | AHOMES 9.25 10/15/28 144A                           | CUSIP: 00623PAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $103093.84    | 0.37%             | 2028-10-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| SM Energy Co.                                                                        | SM 6.75 08/01/29 144A                               | CUSIP: 78454LAX8<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101577.48    | 0.36%             | 2029-08-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Suburban Propane Partners LP / Suburban Energy Finance Corporation                   | SPH 6.5 12/15/35 144A                               | CUSIP: 864486AM7<br>LEI: JJAX4X60DE65EYFOTY73 | Long             | DBT              | CORP              | US        |    105000 | PA      | $102082.24    | 0.36%             | 2035-12-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| New Home Company Inc                                                                 | NWHM 9.25 10/01/29 144A                             | CUSIP: 645370AF4<br>LEI: 549300PLCE8TB3TVRQ85 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101176.14    | 0.36%             | 2029-10-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| Cars.com Inc                                                                         | CARS 6.375 11/01/28 144A                            | CUSIP: 14575EAA3<br>LEI: 5493002G6J07LNGX4M98 | Long             | DBT              | CORP              | US        |    105000 | PA      | $102273.62    | 0.36%             | 2028-11-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| ARETEC ESCROW ISSUER 2 INC                                                           | RCAP 10 08/15/30 144A                               | CUSIP: 04020JAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     95000 | PA      | $100916.86    | 0.36%             | 2030-08-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| METHANEX US OPERATIONS INC                                                           | MXCN 6.25 03/15/32 144A                             | CUSIP: 59151LAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $102337.72    | 0.36%             | 2032-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| ASHTON WOODS USA LLC                                                                 | ASHWOO 4.625 04/01/30 144A                          | CUSIP: 045086AP0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    110000 | PA      | $102374.85    | 0.36%             | 2030-04-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Asgn Incorporated                                                                    | ASGN 4.625 05/15/28 144A                            | CUSIP: 00191UAA0<br>LEI: LZBNYYCBUKY537072438 | Long             | DBT              | CORP              | US        |    105000 | PA      | $101628.52    | 0.36%             | 2028-05-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| VT Topco Inc.                                                                        | VERCOR 8.5 08/15/30 144A                            | CUSIP: 91838PAA9<br>LEI: 5493007T812R37X02Y38 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101597.86    | 0.36%             | 2030-08-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Rand Parent LLC                                                                      | AAWW 8.5 02/15/30 144A                              | CUSIP: 753272AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $102886.62    | 0.36%             | 2030-02-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Azorra Finance Ltd.                                                                  | AZORRA 7.25 01/15/31 144A                           | CUSIP: 05480AAB1<br>LEI: 254900MC1HXDAVUUP395 | Long             | DBT              | CORP              | KY        |    100000 | PA      | $100896.62    | 0.36%             | 2031-01-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| E.W. SCRIPPS COMPANY (THE)                                                           | SSP 3.875 01/15/29 144A                             | CUSIP: 81105DAA3<br>LEI: 549300U1OW41QPKYW028 | Long             | DBT              | CORP              | US        |    115000 | PA      | $106327.52    | 0.38%             | 2029-01-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| APH/APH2/APH3 SOMERSET INVESTOR 2 LLC / AQUARIAN INSURANCE HOLDINGS LLC              | AQUARI 7.875 11/01/29 144A                          | CUSIP: 00188QAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $90378.54     | 0.32%             | 2029-11-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Starwood Property Trust, Inc.                                                        | STWD 5.25 10/15/28 144A                             | CUSIP: 85571BBF1<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99157.47     | 0.35%             | 2028-10-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| UWM HOLDINGS LLC                                                                     | UWMC 6.625 02/01/30 144A                            | CUSIP: 903522AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $94307.64     | 0.33%             | 2030-02-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Resideo Funding Inc.                                                                 | REZI 6.5 07/15/32 144A                              | CUSIP: 76119LAD3<br>LEI: 5493000IFJ6XJKH66598 | Long             | DBT              | CORP              | US        |    105000 | PA      | $103605.97    | 0.37%             | 2032-07-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Superior Plus LP / Superior General Partner Inc                                      | SPBCN 4.5 03/15/29 144A                             | CUSIP: 86828LAC6<br>LEI: 549300K5Y13GU6TPZJ49 | Long             | DBT              | CORP              | CA        |    105000 | PA      | $100217.80    | 0.36%             | 2029-03-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Novelis Corporation                                                                  | HNDLIN 4.75 01/30/30 144A                           | CUSIP: 670001AE6<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |    105000 | PA      | $99448.70     | 0.35%             | 2030-01-30      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| VFH Parent LLC & Valor Co-Issuer Inc.                                                | VIRT 7.5 06/15/31 144A                              | CUSIP: 91824YAA6<br>LEI: 549300FRO9M476YHHY64 | Long             | DBT              | CORP              | US        |    100000 | PA      | $102827.31    | 0.36%             | 2031-06-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Carnival Corporation                                                                 | CCL 5.75 08/01/32 144A                              | CUSIP: 143658CA8<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    100000 | PA      | $100019.05    | 0.35%             | 2032-08-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Select Medical Corporation                                                           | SEM 6.25 12/01/32 144A                              | CUSIP: 816196AV1<br>LEI: 549300X05KS0JKR8CB50 | Long             | DBT              | CORP              | US        |    105000 | PA      | $99802.46     | 0.35%             | 2032-12-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| QXO INC                                                                              | BECN 6.75 04/30/32 144A                             | CUSIP: 74825NAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $102014.83    | 0.36%             | 2032-04-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Group 1 Automotive, Inc.                                                             | GPI 6.375 01/15/30 144A                             | CUSIP: 398905AQ2<br>LEI: 549300US8QAZJLWYAF63 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100886.27    | 0.36%             | 2030-01-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Herc Holdings Inc                                                                    | HRI 5.75 03/15/31 144A                              | CUSIP: 42704LAH7<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |    105000 | PA      | $103476.65    | 0.37%             | 2031-03-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| PTC Inc                                                                              | PTC 4 02/15/28 144A                                 | CUSIP: 69370CAC4<br>LEI: 54930050SSMU8SKDJ030 | Long             | DBT              | CORP              | US        |    105000 | PA      | $102548.07    | 0.36%             | 2028-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HNI Corp                                                                             | HNI 5.125 01/18/29 144A                             | CUSIP: 404251AB6<br>LEI: 549300SKRADLC4O5HV93 | Long             | DBT              | CORP              | US        |     97000 | PA      | $96140.00     | 0.34%             | 2029-01-18      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Minerals Technologies Inc.                                                           | MTX 5 07/01/28 144A                                 | CUSIP: 603158AA4<br>LEI: 549300D3I1QU67GP6403 | Long             | DBT              | CORP              | US        |    105000 | PA      | $104078.33    | 0.37%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHAMPION IRON CANADA INC                                                             | CIACN 7.875 07/15/32 144A                           | CUSIP: 15853BAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    100000 | PA      | $103857.19    | 0.37%             | 2032-07-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Elastic NV                                                                           | ESTC 4.125 07/15/29 144A                            | CUSIP: 28415LAA1<br>LEI: 2549003I48WHHH937I59 | Long             | DBT              | CORP              | NL        |    110000 | PA      | $103208.99    | 0.37%             | 2029-07-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Corecivic Inc                                                                        | CXW 8.25 04/15/29                                   | CUSIP: 21871NAC5<br>LEI: 529900JFA3K6PTLT8B15 | Long             | DBT              | CORP              | US        |    100000 | PA      | $104359.65    | 0.37%             | 2029-04-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Turning Point Brands Inc                                                             | TPB 7.625 03/15/32 144A                             | CUSIP: 90041LAG0<br>LEI: 549300IYG00QF0VVP302 | Long             | DBT              | CORP              | US        |     95000 | PA      | $97552.67     | 0.35%             | 2032-03-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| The Chemours Company LLC                                                             | CC 4.625 11/15/29 144A                              | CUSIP: 163851AH1<br>LEI: 549300M1BOLNXL8DOV14 | Long             | DBT              | CORP              | US        |    110000 | PA      | $103332.32    | 0.37%             | 2029-11-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Assurant Inc.                                                                        | AIZ V7 03/27/48                                     | CUSIP: 04621XAK4<br>LEI: H3F39CAXWQRVWURFXL38 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101244.04    | 0.36%             | 2048-03-27      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| EVERSTORY PARTNERS LP                                                                | STON 8.5 05/15/29 144A                              | CUSIP: 86184WAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    105000 | PA      | $102378.80    | 0.36%             | 2029-05-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Icahn Enterprises, L.P. / Icahn Enterprises Finance Corporation                      | IEP 5.25 05/15/27                                   | CUSIP: 451102BZ9<br>LEI: 549300T0G4GS0SINS786 | Long             | DBT              | CORP              | US        |    105000 | PA      | $102904.95    | 0.36%             | 2027-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Match Group Holdings II LLC                                                          | MTCHII 4.625 06/01/28 144A                          | CUSIP: 57665RAN6<br>LEI: 5493003RFFE030RC9167 | Long             | DBT              | CORP              | US        |    105000 | PA      | $102695.89    | 0.36%             | 2028-06-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Mohegan Escrow Issuer LLC                                                            | MOHEGN 8.25 04/15/30 144A                           | CUSIP: 60832QAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $102152.71    | 0.36%             | 2030-04-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Charles River Laboratories International, Inc.                                       | CRL 4.25 05/01/28 144A                              | CUSIP: 159864AE7<br>LEI: 549300BSQ0R4UZ5KX287 | Long             | DBT              | CORP              | US        |    105000 | PA      | $102547.41    | 0.36%             | 2028-05-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Cnx Midstream Partners Lp                                                            | CNXMPF 4.75 04/15/30 144A                           | CUSIP: 12654AAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    110000 | PA      | $104825.12    | 0.37%             | 2030-04-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Fortress Intermediate 3 Inc.                                                         | PSDO 7.5 06/01/31 144A                              | CUSIP: 34966MAA0<br>LEI: 254900NLAZ3JQJW5JP75 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99590.99     | 0.35%             | 2031-06-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| TMS International Corp                                                               | TMS 6.25 04/15/29 144A                              | CUSIP: 87261QAC7<br>LEI: 549300L4K0F1YF8WKF23 | Long             | DBT              | CORP              | US        |    105000 | PA      | $102210.43    | 0.36%             | 2029-04-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Antero Midstream Partners LP / Antero Midstream Finance Corp                         | AM 5.75 01/15/28 144A                               | CUSIP: 03690AAF3<br>LEI: 529900HFO1BDEIT4QU11 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99950.20     | 0.35%             | 2028-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Trimas Corporation                                                                   | TRS 4.125 04/15/29 144A                             | CUSIP: 896215AH3<br>LEI: 75G1WUQ8QK4P5MZOYD78 | Long             | DBT              | CORP              | US        |    105000 | PA      | $99947.48     | 0.35%             | 2029-04-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Newell Brands Inc.                                                                   | NWL 8.5 06/01/28 144A                               | CUSIP: 651229BG0<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |     95000 | PA      | $98239.97     | 0.35%             | 2028-06-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| PHOENIX AVIATION CAPITAL LTD                                                         | PHOAVI 9.25 07/15/30 144A                           | CUSIP: 71910DAA9<br>LEI: 8945008YQAKXZQ3VYJ15 | Long             | DBT              | CORP              | IE        |     95000 | PA      | $95522.93     | 0.34%             | 2030-07-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| Clue Opco LLC                                                                        | FWRD 9.5 10/15/31 144A                              | CUSIP: 36267QAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $97210.88     | 0.34%             | 2031-10-15      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Huntsman International LLC                                                           | HUN 4.5 05/01/29                                    | CUSIP: 44701QBE1<br>LEI: 3YTEJFW18LGIUQ2N5J61 | Long             | DBT              | CORP              | US        |    105000 | PA      | $98342.71     | 0.35%             | 2029-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Insight Enterprises Inc.                                                             | NSIT 6.625 05/15/32 144A                            | CUSIP: 45765UAC7<br>LEI: 529900S8991TYW6YP792 | Long             | DBT              | CORP              | US        |    110000 | PA      | $106082.48    | 0.38%             | 2032-05-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Windsor Holdings III LLC                                                             | UNVR 8.5 06/15/30 144A                              | CUSIP: 97360AAA5<br>LEI: 254900IXUJZ9H146T437 | Long             | DBT              | CORP              | US        |    100000 | PA      | $103574.84    | 0.37%             | 2030-06-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Hudson Pacific Properties LP                                                         | HPP 3.95 11/01/27                                   | CUSIP: 44409MAA4<br>LEI: 5493007NTUGLGZ8T3526 | Long             | DBT              | CORP              | US        |    105000 | PA      | $99113.21     | 0.35%             | 2027-11-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Sotera Health Holdings LLC                                                           | STENOR 7.375 06/01/31 144A                          | CUSIP: 83600WAE9<br>LEI: 549300OVT7MBXFLOFU20 | Long             | DBT              | CORP              | US        |     95000 | PA      | $98327.25     | 0.35%             | 2031-06-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Ggam Finance Ltd.                                                                    | GGAMFI 8 06/15/28 144A                              | CUSIP: 36170JAA4<br>LEI: 254900X2QXEN0FVXRF65 | Long             | DBT              | CORP              | KY        |     95000 | PA      | $98557.46     | 0.35%             | 2028-06-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| NEW FLYER HOLDINGS INC                                                               | NFICN 9.25 07/01/30 144A                            | CUSIP: 64438WAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     95000 | PA      | $101540.38    | 0.36%             | 2030-07-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| MGM Resorts International                                                            | MGM 6.5 04/15/32                                    | CUSIP: 552953CJ8<br>LEI: 54930066VBP7DZEGGJ87 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100811.75    | 0.36%             | 2032-04-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| BLOOMIN' BRANDS INC / OSI RESTAURANT PARTNERS LLC                                    | BLMN 5.125 04/15/29 144A                            | CUSIP: 094234AA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    115000 | PA      | $102001.82    | 0.36%             | 2029-04-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| CPI CG Inc.                                                                          | CPICAR 10 07/15/29 144A                             | CUSIP: 12598FAC3<br>LEI: 254900H3R50WH1B1LB48 | Long             | DBT              | CORP              | US        |    100000 | PA      | $105397.04    | 0.37%             | 2029-07-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Howard Midstream Energy Partners Llc                                                 | HOWARD 7.375 07/15/32 144A                          | CUSIP: 442722AC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $103439.07    | 0.37%             | 2032-07-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Edgewell Personal Care Co                                                            | EPC 4.125 04/01/29 144A                             | CUSIP: 28035QAB8<br>LEI: 549300CY8QZDL4Z3RU59 | Long             | DBT              | CORP              | US        |    105000 | PA      | $99201.12     | 0.35%             | 2029-04-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Popular, Inc.                                                                        | BPOP 7.25 03/13/28                                  | CUSIP: 733174AL0<br>LEI: 5493008CARDZMVQ3LO89 | Long             | DBT              | CORP              | US        |    100000 | PA      | $103474.98    | 0.37%             | 2028-03-13      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| PROG Holdings Inc.                                                                   | PRG 6 11/15/29 144A                                 | CUSIP: 74319RAA9<br>LEI: 549300DHYTLBOVRXIG52 | Long             | DBT              | CORP              | US        |    105000 | PA      | $100126.10    | 0.35%             | 2029-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Stonepeak Nile Parent LLC                                                            | ATSG 7.25 03/15/32 144A                             | CUSIP: 861932AA9<br>LEI: 254900TJV3VAFZD0GU41 | Long             | DBT              | CORP              | US        |     95000 | PA      | $98611.86     | 0.35%             | 2032-03-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Rb Global Holdings Inc.                                                              | RBACN 6.75 03/15/28 144A                            | CUSIP: 76774LAB3<br>LEI: 254900LH3N0EGB1LQ203 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101566.65    | 0.36%             | 2028-03-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Perrigo Finance Unlimited Co.                                                        | PRGO 6.125 09/30/32 USD                             | CUSIP: 71429MAD7<br>LEI: 549300E86RB6YCTMRM83 | Long             | DBT              | CORP              | IE        |    105000 | PA      | $95838.92     | 0.34%             | 2032-09-30      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Rockies Express Pipeline LLC                                                         | ROCKIE 4.8 05/15/30 144A                            | CUSIP: 77340RAT4<br>LEI: W2ZGZGZKY5GGNY6F3V51 | Long             | DBT              | CORP              | US        |    105000 | PA      | $100639.09    | 0.36%             | 2030-05-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Graphic Packaging International LLC                                                  | GPK 3.75 02/01/30 144A                              | CUSIP: 38869AAD9<br>LEI: SO75N4VY5NXGQSK8YQ65 | Long             | DBT              | CORP              | US        |    110000 | PA      | $101160.38    | 0.36%             | 2030-02-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| CrossCountry Intermediate HoldCo LLC                                                 | CROSIN 6.5 10/01/30 144A                            | CUSIP: 22757VAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    105000 | PA      | $100085.61    | 0.35%             | 2030-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| TGNR INTERMEDIATE HOLDINGS LLC                                                       | RCKENE 5.5 10/15/29 144A                            | CUSIP: 77289KAA3<br>LEI: 5493007AZNVKZ5HEMT23 | Long             | DBT              | CORP              | US        |    105000 | PA      | $102566.72    | 0.36%             | 2029-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Ringcentral Inc                                                                      | RNG 8.5 08/15/30 144A                               | CUSIP: 76680RAJ6<br>LEI: 549300C8EH0H1614VE84 | Long             | DBT              | CORP              | US        |     95000 | PA      | $99370.91     | 0.35%             | 2030-08-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| LGI Homes Inc                                                                        | LGIH 4 07/15/29 144A                                | CUSIP: 50187TAF3<br>LEI: 549300W02B4WNV8CV109 | Long             | DBT              | CORP              | US        |    110000 | PA      | $98163.17     | 0.35%             | 2029-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Macys Retail Holdings LLC                                                            | M 6.125 03/15/32 144A                               | CUSIP: 55617LAR3<br>LEI: 549300JMONK27O4SQQ19 | Long             | DBT              | CORP              | US        |    100000 | PA      | $98444.96     | 0.35%             | 2032-03-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| OI European Group B.V.                                                               | OI 4.75 02/15/30 144A                               | CUSIP: 67777LAD5<br>LEI: 72450053F5WRDY8CDZ66 | Long             | DBT              | CORP              | NL        |    100000 | PA      | $92863.83     | 0.33%             | 2030-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Venture Global Calcasieu Pass LLC                                                    | VENTGL 6.25 01/15/30 144A                           | CUSIP: 92328MAE3<br>LEI: 549300GKHS6RS20NLH85 | Long             | DBT              | CORP              | US        |     95000 | PA      | $97158.78     | 0.34%             | 2030-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Rocket Mortgage LLC / Rocket Mortgage Co-Issuer Inc.                                 | RKT 3.625 03/01/29 144A                             | CUSIP: 74841CAA9<br>LEI: 549300FGXN1K3HLB1R50 | Long             | DBT              | CORP              | US        |    105000 | PA      | $99491.09     | 0.35%             | 2029-03-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| MILLROSE PROPERTIES INC                                                              | MRP 6.375 08/01/30 144A                             | CUSIP: 601137AA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $100166.69    | 0.36%             | 2030-08-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| WYNN RESORTS FINANCE LLC                                                             | WYNFIN 7.125 02/15/31 144A                          | CUSIP: 983133AC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $105056.03    | 0.37%             | 2031-02-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Snap Inc                                                                             | SNAP 6.875 03/15/34 144A                            | CUSIP: 83304AAM8<br>LEI: 549300JNC0L6VP8A2Q35 | Long             | DBT              | CORP              | US        |    100000 | PA      | $94019.07     | 0.33%             | 2034-03-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| The Manitowoc Company, Inc.                                                          | MTW 9.25 10/01/31 144A                              | CUSIP: 563571AN8<br>LEI: 2RTSLGQ89VMY18RHX631 | Long             | DBT              | CORP              | US        |    110000 | PA      | $114933.63    | 0.41%             | 2031-10-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| Excelerate Energy LP                                                                 | EXCENE 8 05/15/30 144A                              | CUSIP: 30069UAA6<br>LEI: LGL4IE90TNTFYJ55BK06 | Long             | DBT              | CORP              | US        |     95000 | PA      | $99475.14     | 0.35%             | 2030-05-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Adapthealth Llc                                                                      | ADAHEA 4.625 08/01/29 144A                          | CUSIP: 00653VAC5<br>LEI: 549300SN58QQ28RVWE26 | Long             | DBT              | CORP              | US        |    110000 | PA      | $104925.93    | 0.37%             | 2029-08-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Murphy Oil USA Inc                                                                   | MUSA 5.625 05/01/27                                 | CUSIP: 626738AD0<br>LEI: N32S6DTR2ZZ5222WHV58 | Long             | DBT              | CORP              | US        |    105000 | PA      | $104886.76    | 0.37%             | 2027-05-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Advance Auto Parts Inc.                                                              | AAP 7 08/01/30 144A                                 | CUSIP: 00751YAK2<br>LEI: 529900UCNQ5H9FSL0Y70 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101256.73    | 0.36%             | 2030-08-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Block Inc                                                                            | XYZ 5.625 08/15/30 144A                             | CUSIP: 852234AT0<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99460.27     | 0.35%             | 2030-08-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Northriver Midstream Finance LP                                                      | NORMID 6.75 07/15/32 144A                           | CUSIP: 66679NAB6<br>LEI: 549300SOLNLY3BL6GF18 | Long             | DBT              | CORP              | CA        |    100000 | PA      | $100562.50    | 0.36%             | 2032-07-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| AMERITEX HOLDCO INTERMEDIATE LLC                                                     | AMEPIP 7.625 08/15/33 144A                          | CUSIP: 030727AB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $103138.22    | 0.37%             | 2033-08-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| Mauser Packaging Solutions Holding Co.                                               | BWY 7.875 04/15/30 144A                             | CUSIP: 57763RAE7<br>LEI: 549300DNGHXL0OMHW304 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99962.94     | 0.35%             | 2030-04-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| American Axle & Manufacturing, Inc.                                                  | AXL 5 10/01/29                                      | CUSIP: 02406PBB5<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | DBT              | CORP              | US        |    100000 | PA      | $95331.77     | 0.34%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Cipher Compute LLC                                                                   | CIFR 7.125 11/15/30 144A                            | CUSIP: 17253NAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $103635.45    | 0.37%             | 2030-11-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Under Armour, Inc.                                                                   | UA 7.25 07/15/30 144A                               | CUSIP: 904311AD9<br>LEI: 549300D4549QKWETZ406 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101106.62    | 0.36%             | 2030-07-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Vornado Realty Lp                                                                    | VNO 3.4 06/01/31                                    | CUSIP: 929043AL1<br>LEI: 549300BMOJ05INE4YK86 | Long             | DBT              | CORP              | US        |    115000 | PA      | $102518.11    | 0.36%             | 2031-06-01      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| Verde Purchaser LLC                                                                  | VRTV 10.5 11/30/30 144A                             | CUSIP: 92339LAA0<br>LEI: 2549004HFEKMUGBG3Z35 | Long             | DBT              | CORP              | US        |    115000 | PA      | $119415.39    | 0.42%             | 2030-11-30      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| Six Flags Entertainment Corp.                                                        | FUN 5.25 07/15/29                                   | CUSIP: 150190AE6<br>LEI: 529900AS2CYWYFHRS781 | Long             | DBT              | CORP              | US        |    105000 | PA      | $100415.96    | 0.36%             | 2029-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Nustar Logistics, L.P.                                                               | NSUS 5.625 04/28/27                                 | CUSIP: 67059TAE5<br>LEI: N62BF2PKP51FIIOIUN20 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100192.32    | 0.36%             | 2027-04-28      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Delek Logistics Partners LP/ Delek Logistics Finance Corp.                           | DKL 8.625 03/15/29 144A                             | CUSIP: 24665FAD4<br>LEI: 549300UVYITDIU51P724 | Long             | DBT              | CORP              | US        |    100000 | PA      | $103500.60    | 0.37%             | 2029-03-15      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| Builders Firstsource, Inc.                                                           | BLDR 6.75 05/15/35 144A                             | CUSIP: 12008RAT4<br>LEI: 549300W0SKP6L3H7DP63 | Long             | DBT              | CORP              | US        |     95000 | PA      | $95055.65     | 0.34%             | 2035-05-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| FIESTA PURCHASER INC                                                                 | SHEARE 7.875 03/01/31 144A                          | CUSIP: 31659AAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $101777.52    | 0.36%             | 2031-03-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Jefferson Capital Holdings LLC                                                       | JEFCAP 8.25 05/15/30 144A                           | CUSIP: 472481AC4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $104307.07    | 0.37%             | 2030-05-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Voltagrid LLC                                                                        | VOLTAG 7.375 11/01/30 144A                          | CUSIP: 92874BAA3<br>LEI: 254900R5BEUGIKK1FM03 | Long             | DBT              | CORP              | US        |    100000 | PA      | $103186.83    | 0.37%             | 2030-11-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Empire Communities Corp.                                                             | EMPRCC 9.75 05/01/29 144A                           | CUSIP: 29163VAG8<br>LEI: 549300JM1L6KK2QFP273 | Long             | DBT              | CORP              | CA        |     95000 | PA      | $95344.12     | 0.34%             | 2029-05-01      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| WildFire Intermediate Holdings LLC                                                   | WILDFI 7.5 10/15/29 144A                            | CUSIP: 96812HAA6<br>LEI: 5493003RHEMQJZEXIR02 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101132.75    | 0.36%             | 2029-10-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Sonic Automotive, Inc.                                                               | SAH 4.875 11/15/31 144A                             | CUSIP: 83545GBE1<br>LEI: 549300NTLRGJ2JCBZU03 | Long             | DBT              | CORP              | US        |    105000 | PA      | $99507.51     | 0.35%             | 2031-11-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| CASCADES INC / CASCADES USA INC                                                      | CASCN 6.75 07/15/30 144A                            | CUSIP: 14739LAD4<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    105000 | PA      | $105909.95    | 0.38%             | 2030-07-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Precision Drilling Corporation                                                       | PDCN 6.875 01/15/29 144A                            | CUSIP: 740212AM7<br>LEI: 549300WF2OE8T5BP4B84 | Long             | DBT              | CORP              | CA        |    105000 | PA      | $105718.92    | 0.37%             | 2029-01-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| CCO HOLDINGS LLC                                                                     | CHTR 4.5 08/15/30 144A                              | CUSIP: 1248EPCE1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    110000 | PA      | $102663.27    | 0.36%             | 2030-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Molina Healthcare, Inc.                                                              | MOH 4.375 06/15/28 144A                             | CUSIP: 60855RAJ9<br>LEI: 549300NQQCEQ46YHZ591 | Long             | DBT              | CORP              | US        |    105000 | PA      | $101613.99    | 0.36%             | 2028-06-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| RAILWORKS HOLDINGS LP                                                                | RWORKS 8.25 11/15/28 144A                           | CUSIP: 75079MAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $99860.55     | 0.35%             | 2028-11-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Caesars Entertainment Inc.                                                           | CZR 6.5 02/15/32 144A                               | CUSIP: 12769GAC4<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |    100000 | PA      | $98901.15     | 0.35%             | 2032-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Blackstone Mortgage Trust, Inc                                                       | BXMT 7.75 12/01/29 144A                             | CUSIP: 09257WAF7<br>LEI: 549300OLDJ20R2Y2UW20 | Long             | DBT              | CORP              | US        |    100000 | PA      | $104906.95    | 0.37%             | 2029-12-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| GEO Group Inc                                                                        | GEO 10.25 04/15/31                                  | CUSIP: 36162JAH9<br>LEI: 54930024XOXET7NQVZ63 | Long             | DBT              | CORP              | US        |     90000 | PA      | $96037.91     | 0.34%             | 2031-04-15      | Fixed         | 10.25%                | No            |                  2 | On Loan: No      |
| Atkore Inc                                                                           | ATKR 4.25 06/01/31 144A                             | CUSIP: 047649AA6<br>LEI: 52990002TI38AM4RPV48 | Long             | DBT              | CORP              | US        |    110000 | PA      | $103232.48    | 0.37%             | 2031-06-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Matador Resources Company                                                            | MTDR 6.5 04/15/32 144A                              | CUSIP: 576485AG1<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101064.09    | 0.36%             | 2032-04-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FERRELLGAS ESCROW LLC                                                                | FGP 5.875 04/01/29 144A                             | CUSIP: 315289AC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    110000 | PA      | $105489.47    | 0.37%             | 2029-04-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| WALKER & DUNLOP INC                                                                  | WD 6.625 04/01/33 144A                              | CUSIP: 93148PAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    105000 | PA      | $102203.00    | 0.36%             | 2033-04-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Crowdstrike Holdings Inc                                                             | CRWD 3 02/15/29                                     | CUSIP: 22788CAA3<br>LEI: 549300YBY08K9KM4HX32 | Long             | DBT              | CORP              | US        |    110000 | PA      | $104667.10    | 0.37%             | 2029-02-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| V.F. Corp                                                                            | VFC 2.95 04/23/30                                   | CUSIP: 918204BC1<br>LEI: CWAJJ9DJ5Z7P057HV541 | Long             | DBT              | CORP              | US        |    120000 | PA      | $107162.38    | 0.38%             | 2030-04-23      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Nordstrom, Inc.                                                                      | JWN 4 03/15/27                                      | CUSIP: 655664AS9<br>LEI: 549300S3IZB5P35KNV16 | Long             | DBT              | CORP              | US        |    105000 | PA      | $102959.65    | 0.37%             | 2027-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Upbound Group Inc                                                                    | UPBD 6.375 02/15/29 144A                            | CUSIP: 76009NAL4<br>LEI: 529900QUHE15UQNCCJ63 | Long             | DBT              | CORP              | US        |    105000 | PA      | $101851.35    | 0.36%             | 2029-02-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| KNIFE RIVER CORP                                                                     | KNIRIV 7.75 05/01/31 144a                           | CUSIP: 498894AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $103682.66    | 0.37%             | 2031-05-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Garrett Motion Holdings Inc. / Garrett LX I S.a.r.l.                                 | GTX 7.75 05/31/32 144A                              | CUSIP: 366504AA6<br>LEI: 5493001N1N6Z0SR83G07 | Long             | DBT              | CORP              | US        |     95000 | PA      | $98262.77     | 0.35%             | 2032-05-31      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Wilton Re Limited                                                                    | WILTON V6 PERP 144A                                 | CUSIP: 97263CAA9<br>LEI: 5493004VQ9VSL29MT373 | Long             | DBT              | CORP              | CA        |    100000 | PA      | $96295.83     | 0.34%             | N/A             | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| WEX Inc                                                                              | WEX 6.5 03/15/33 144A                               | CUSIP: 96208TAD6<br>LEI: T9M5IGROL1TL1G5OV478 | Long             | DBT              | CORP              | US        |    100000 | PA      | $97913.26     | 0.35%             | 2033-03-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Wayfair LLC                                                                          | W 7.75 09/15/30 144A                                | CUSIP: 94419NAB3<br>LEI: 549300CTUWTZGOXMYI40 | Long             | DBT              | CORP              | US        |    100000 | PA      | $104051.74    | 0.37%             | 2030-09-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Pennymac Financial Services Inc                                                      | PFSI 6.75 02/15/34 144A                             | CUSIP: 70932MAH0<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |    100000 | PA      | $93654.36     | 0.33%             | 2034-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Sunoco LP / Sunoco Finance Corp.                                                     | SUN 5.875 03/15/28                                  | CUSIP: 86765LAN7<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |    105000 | PA      | $104864.79    | 0.37%             | 2028-03-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CHS/Community Health Systems Inc                                                     | CYH 5.25 05/15/30 144A                              | CUSIP: 12543DBM1<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |    110000 | PA      | $103647.33    | 0.37%             | 2030-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co-Issuer Inc | PK 7 02/01/30 144A                                  | CUSIP: 70052LAD5<br>LEI: 549300HJUVLG7EAGZV92 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101202.90    | 0.36%             | 2030-02-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Avis Budget Car Rental LLC/Avis Budget Finance Inc.                                  | CAR 4.75 04/01/28 144A                              | CUSIP: 053773BG1<br>LEI: XN8R4HH1TVC1XOCL5P21 | Long             | DBT              | CORP              | US        |    105000 | PA      | $102203.58    | 0.36%             | 2028-04-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Avantor Funding Inc                                                                  | AVTR 4.625 07/15/28 144A                            | CUSIP: 05352TAA7<br>LEI: 5493003VM0XB4U8YD238 | Long             | DBT              | CORP              | US        |    105000 | PA      | $102461.03    | 0.36%             | 2028-07-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Mauser Packaging Solutions Holding Co.                                               | BWY 7.875 04/15/27 144A                             | CUSIP: 57763RAD9<br>LEI: 549300DNGHXL0OMHW304 | Long             | DBT              | CORP              | US        |    100000 | PA      | $97160.98     | 0.34%             | 2027-04-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Rithm Capital Corp.                                                                  | RITM 8 07/15/30 144A                                | CUSIP: 64828TAC6<br>LEI: 549300WNTHGEO5LP2G31 | Long             | DBT              | CORP              | US        |    100000 | PA      | $96670.55     | 0.34%             | 2030-07-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Cleveland-Cliffs Inc                                                                 | CLF 4.875 03/01/31 144A                             | CUSIP: 185899AL5<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |    110000 | PA      | $98891.28     | 0.35%             | 2031-03-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Academy Ltd / Academy Finance Corp.                                                  | ACALTD 6 11/15/27 144A                              | CUSIP: 00401YAA8<br>LEI: 549300BN53IR80C35Z14 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100012.00    | 0.35%             | 2027-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Amerigas Partners, L.P./Amerigas Finance Corp.                                       | APU 9.5 06/01/30 144A                               | CUSIP: 030981AP9<br>LEI: H36E1IF6YS0OBMHM6168 | Long             | DBT              | CORP              | US        |     95000 | PA      | $100673.74    | 0.36%             | 2030-06-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES INC                                                                | AAL 5.75 04/20/29 144A                              | CUSIP: 00253XAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    105000 | PA      | $104182.23    | 0.37%             | 2029-04-20      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| KB Home                                                                              | KBH 7.25 07/15/30                                   | CUSIP: 48666KBA6<br>LEI: 549300LGUCWQURMWLG09 | Long             | DBT              | CORP              | US        |    100000 | PA      | $102035.45    | 0.36%             | 2030-07-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| McGraw-Hill Education Inc.                                                           | MHED 7.375 09/01/31 144A                            | CUSIP: 58064LAA2<br>LEI: 254900U6YJ9QZ4IQOR26 | Long             | DBT              | CORP              | US        |    100000 | PA      | $102142.14    | 0.36%             | 2031-09-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| SLM CORP (SALLIE MAE)                                                                | SLM 6.5 01/31/30                                    | CUSIP: 78442PGF7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    110000 | PA      | $108237.03    | 0.38%             | 2030-01-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Deluxe Corporation                                                                   | DLX 8.125 09/15/29 144A                             | CUSIP: 248019AW1<br>LEI: KWGNKB8TX9LE5TV29231 | Long             | DBT              | CORP              | US        |    100000 | PA      | $104114.29    | 0.37%             | 2029-09-15      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| The Gap Inc.                                                                         | GAP 3.625 10/01/29 144A                             | CUSIP: 364760AP3<br>LEI: T2ZG1WRWZ4BUCMQL9224 | Long             | DBT              | CORP              | US        |    110000 | PA      | $102806.36    | 0.36%             | 2029-10-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| W. R. Grace Holdings Llc                                                             | GRA 6.625 08/15/32 144A                             | CUSIP: 92943GAF8<br>LEI: 549300WNOVFRGYOAEB12 | Long             | DBT              | CORP              | US        |    105000 | PA      | $102320.27    | 0.36%             | 2032-08-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| NOBLE FINANCE II LLC                                                                 | NEFINA 8 04/15/30 144A                              | CUSIP: 65505PAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $103205.05    | 0.37%             | 2030-04-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Sealed Air Corp. / Sealed Air Corp. US                                               | SEE 7.25 02/15/31 144A                              | CUSIP: 812127AB4<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | DBT              | CORP              | US        |    100000 | PA      | $105364.57    | 0.37%             | 2031-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Victra Holdings LLC / Victra Finance Corp.                                           | VICTRA 8.75 09/15/29 144A                           | CUSIP: 92648DAA4<br>LEI: 549300KWDYQKQSF0MQ18 | Long             | DBT              | CORP              | US        |    100000 | PA      | $103654.13    | 0.37%             | 2029-09-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| MasterBrand Inc                                                                      | MASBRA 7 07/15/32 144A                              | CUSIP: 57638PAA2<br>LEI: 549300E0Y4BR5Z9RDZ64 | Long             | DBT              | CORP              | US        |    100000 | PA      | $97886.87     | 0.35%             | 2032-07-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ViaSat, Inc.                                                                         | VSAT 5.625 04/15/27 144A                            | CUSIP: 92552VAL4<br>LEI: UFC8NYMNFSYIHNSM2I38 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99570.85     | 0.35%             | 2027-04-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Level 3 Financing, Inc.                                                              | LVLT 6.875 06/30/33 144A                            | CUSIP: 527298CM3<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101826.69    | 0.36%             | 2033-06-30      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Freedom Mortgage Holdings LLC                                                        | FREMOR 9.25 02/01/29 144A                           | CUSIP: 35641AAA6<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101399.64    | 0.36%             | 2029-02-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| Brookfield Residential Properties Inc.                                               | BRPCN 4.875 02/15/30 144A                           | CUSIP: 11283YAD2<br>LEI: 549300C2SXDXVIUV3Q14 | Long             | DBT              | CORP              | CA        |     95000 | PA      | $87548.24     | 0.31%             | 2030-02-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Entegris Inc                                                                         | ENTG 4.375 04/15/28 144A                            | CUSIP: 29362UAC8<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | DBT              | CORP              | US        |    105000 | PA      | $102892.19    | 0.36%             | 2028-04-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| HLF Financing SaRL LLC and Herbalife International Inc.                              | HLF 4.875 06/01/29 144A                             | CUSIP: 40390DAC9<br>LEI: ST81INWBFR1E54KGC135 | Long             | DBT              | CORP              | US        |    100000 | PA      | $93712.01     | 0.33%             | 2029-06-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| BellRing Intermediate Holdings Inc.                                                  | BRBR 7 03/15/30 144A                                | CUSIP: 07831CAA1<br>LEI: 549300S3BOK5CMTS8054 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100328.68    | 0.36%             | 2030-03-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Long Ridge Energy LLC                                                                | LONRID 8.75 02/15/32 144A                           | CUSIP: 54288CAA1<br>LEI: 984500764EC9AZ2FC764 | Long             | DBT              | CORP              | US        |    110000 | PA      | $115364.86    | 0.41%             | 2032-02-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Bread Financial Holdings Inc                                                         | BFH 6.75 05/15/31 144A                              | CUSIP: 018581AR9<br>LEI: 549300G8S4PO686J7H97 | Long             | DBT              | CORP              | US        |    105000 | PA      | $104191.54    | 0.37%             | 2031-05-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| EZCORP Inc.                                                                          | EZPW 7.375 04/01/32 144A                            | CUSIP: 302301AJ5<br>LEI: 5493003K6PG3ZQ7TUQ63 | Long             | DBT              | CORP              | US        |    100000 | PA      | $104305.57    | 0.37%             | 2032-04-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Kontoor Brands Inc                                                                   | KTB 4.125 11/15/29 144A                             | CUSIP: 50050NAA1<br>LEI: 549300M0CPXV65RFF271 | Long             | DBT              | CORP              | US        |    105000 | PA      | $99442.82     | 0.35%             | 2029-11-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Hess Midstream Operations LP                                                         | HESM 5.875 03/01/28 144A                            | CUSIP: 428102AH0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $100783.72    | 0.36%             | 2028-03-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Columbus McKinnon Corp.                                                              | CMCO 7.125 02/01/33 144A                            | CUSIP: 199333AK1<br>LEI: 549300W3HQB0HO1F3G69 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99794.19     | 0.35%             | 2033-02-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| WULF Compute LLC                                                                     | WULF 7.75 10/15/30 144A                             | CUSIP: 982911AA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     95000 | PA      | $100388.52    | 0.36%             | 2030-10-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Kraken Oil & Gas Partners LLC                                                        | KRAOIG 7.625 08/15/29 144A                          | CUSIP: 50076PAA6<br>LEI: 549300DR5HSL4YAU3X12 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101608.73    | 0.36%             | 2029-08-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| Fair Isaac Corporation                                                               | FAIRIC 4 06/15/28 144A                              | CUSIP: 303250AF1<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | DBT              | CORP              | US        |    105000 | PA      | $101932.87    | 0.36%             | 2028-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RIVERS ENTERPRISE BORROWER LLC                                                       | RIVENT 6.625 02/01/33 144A                          | CUSIP: 76883NAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    105000 | PA      | $104549.13    | 0.37%             | 2033-02-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Travel Plus Leisure Co                                                               | TNL 4.625 03/01/30 144A                             | CUSIP: 98310WAQ1<br>LEI: T4VNTWMFQ7JQB65L7T35 | Long             | DBT              | CORP              | US        |    105000 | PA      | $99982.50     | 0.35%             | 2030-03-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Gen Digital Inc                                                                      | GEN 6.75 09/30/27 144A                              | CUSIP: 668771AK4<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | DBT              | CORP              | US        |    105000 | PA      | $105484.57    | 0.37%             | 2027-09-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| MARTIN MIDSTREAM PARTNERS LP                                                         | MMLP 11.5 02/15/28 144A                             | CUSIP: 573334AK5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $102893.38    | 0.36%             | 2028-02-15      | Fixed         | 11.50%                | No            |                  2 | On Loan: No      |
| Garda World Security Corporation                                                     | GWCN 6.5 01/15/31 144A                              | CUSIP: 36485MAQ2<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | DBT              | CORP              | CA        |    100000 | PA      | $101532.96    | 0.36%             | 2031-01-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Standard Building Solutions Inc.                                                     | BMCAUS 4.375 07/15/30 144A                          | CUSIP: 853496AG2<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |    105000 | PA      | $99135.57     | 0.35%             | 2030-07-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Windstream Services LLC / Windstream Escrow Finance Corp.                            | WIN 8.25 10/01/31 144A                              | CUSIP: 97381AAA0<br>LEI: 549300KT9GVEBYCD2N29 | Long             | DBT              | CORP              | US        |    110000 | PA      | $115218.07    | 0.41%             | 2031-10-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| MITER BRANDS ACQUISITION HOLDCO INC                                                  | MIWIDO 6.75 04/01/32 144A                           | CUSIP: 60672JAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $95738.13     | 0.34%             | 2032-04-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Oceaneering International, Inc.                                                      | OII 6 02/01/28                                      | CUSIP: 675232AB8<br>LEI: 549300L6PH74701W0R30 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100467.79    | 0.36%             | 2028-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Brandywine Operating Partnership L.P.                                                | BDN 8.3 03/15/28                                    | CUSIP: 105340AR4<br>LEI: IXBXSCONLDQ1ZI73YU71 | Long             | DBT              | CORP              | US        |     95000 | PA      | $96669.62     | 0.34%             | 2028-03-15      | Fixed         | 8.30%                 | No            |                  2 | On Loan: No      |
| Magnolia Oil & Gas Operating LLC / Magnolia Oil & Gas Finance Corp                   | MGY 6.875 12/01/32 144A                             | CUSIP: 559665AB0<br>LEI: 984500CG376B0B99F016 | Long             | DBT              | CORP              | US        |    100000 | PA      | $102770.98    | 0.36%             | 2032-12-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Radiology Partners Inc.                                                              | RADPAR 8.5 07/15/32 144A                            | CUSIP: 75041VAE4<br>LEI: 549300SFTAG2177WUZ08 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101502.49    | 0.36%             | 2032-07-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Phinia Inc.                                                                          | PHIN 6.75 04/15/29 144A                             | CUSIP: 71880KAA9<br>LEI: 254900HG6MORZE1FFM18 | Long             | DBT              | CORP              | US        |    100000 | PA      | $102074.91    | 0.36%             | 2029-04-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| M/I Homes Inc.                                                                       | MHO 3.95 02/15/30                                   | CUSIP: 55305BAV3<br>LEI: 5299005M71FH9CCSFB69 | Long             | DBT              | CORP              | US        |    110000 | PA      | $103193.64    | 0.37%             | 2030-02-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Diversified Healthcare Trust                                                         | DHC 4.375 03/01/31                                  | CUSIP: 25525PAB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    115000 | PA      | $101879.39    | 0.36%             | 2031-03-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Century Communities Inc                                                              | CCS 3.875 08/15/29 144A                             | CUSIP: 156504AM4<br>LEI: 5299002QMB2O7ZL1CA26 | Long             | DBT              | CORP              | US        |    110000 | PA      | $103251.69    | 0.37%             | 2029-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| AMN Healthcare Inc.                                                                  | AMN 4 04/15/29 144A                                 | CUSIP: 00175PAC7<br>LEI: 549300H27NUKBFFQEE84 | Long             | DBT              | CORP              | US        |    110000 | PA      | $103408.19    | 0.37%             | 2029-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ATI Inc                                                                              | ATI 5.875 12/01/27                                  | CUSIP: 01741RAH5<br>LEI: ZW1LRE7C3H17O2ZN9B45 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100064.19    | 0.35%             | 2027-12-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| TRUENOORD CAPITAL DAC                                                                | TNOORD 8.75 03/01/30 144A                           | CUSIP: 89785GAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |     95000 | PA      | $96889.28     | 0.34%             | 2030-03-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Adient Global Holdings Ltd                                                           | ADNT 7.5 02/15/33 144A                              | CUSIP: 00687YAD7<br>LEI: 213800VA38VCKE6M8790 | Long             | DBT              | CORP              | JE        |    110000 | PA      | $111365.22    | 0.39%             | 2033-02-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Dreyfus Government Cash Management Funds                                             | Dreyfus Government Cash Management Funds SH BEN INT | CUSIP: 262006208<br>LEI: 5493000Q69I5Q3QZIA91 | Long             | STIV             | RF                | US        |    590524 | NS      | $590524.08    | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Lithia Motors Incorporated                                                           | LAD 4.375 01/15/31 144A                             | CUSIP: 536797AF0<br>LEI: SE8N1EZEHPZQBCBVKD53 | Long             | DBT              | CORP              | US        |    105000 | PA      | $98471.62     | 0.35%             | 2031-01-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Whirlpool Corp.                                                                      | WHR 2.4 05/15/31                                    | CUSIP: 963320AY2<br>LEI: WHENKOULSSK7WUM60H03 | Long             | DBT              | CORP              | US        |    120000 | PA      | $95935.89     | 0.34%             | 2031-05-15      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| Ontario Gaming GTA LP / OTG Co Issuer Inc.                                           | ONGAME 8 08/01/30 144A                              | CUSIP: 68306MAA7<br>LEI: 894500EC9KLZLOC3V025 | Long             | DBT              | CORP              | CA        |    100000 | PA      | $95906.67     | 0.34%             | 2030-08-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Smyrna Ready Mix Concrete LLC                                                        | SMYREA 6 11/01/28 144A                              | CUSIP: 85236FAA1<br>LEI: 549300S7RFWHQFOIOY93 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99284.78     | 0.35%             | 2028-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Marriott Ownership Resorts Inc                                                       | VAC 6.5 10/01/33 144A                               | CUSIP: 57164PAK2<br>LEI: BW4532OH033VURR0IT68 | Long             | DBT              | CORP              | US        |    105000 | PA      | $99838.58     | 0.35%             | 2033-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| RLJ Lodging Trust LP                                                                 | RLJ 4 09/15/29 144A                                 | CUSIP: 74965LAB7<br>LEI: 549300RX5I8Z6I6LDZ74 | Long             | DBT              | CORP              | US        |    110000 | PA      | $103372.43    | 0.37%             | 2029-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| OneMain Financial Corporation                                                        | OMF 3.875 09/15/28                                  | CUSIP: 682691AC4<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    105000 | PA      | $99825.70     | 0.35%             | 2028-09-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Allegiant Travel Company                                                             | ALGT 7.25 08/15/27 144A                             | CUSIP: 01748XAD4<br>LEI: 549300JM9OZXOHWL2K18 | Long             | DBT              | CORP              | US        |     76000 | PA      | $76238.23     | 0.27%             | 2027-08-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| PROVIDENT FUNDING ASSOCIATES LP / PFG FINANCE CORP                                   | PROFUN 9.75 09/15/29 144A                           | CUSIP: 74387UAK7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     95000 | PA      | $97541.41     | 0.35%             | 2029-09-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| XPLR Infrastructure Operating Partners LP                                            | XIFR 4.5 09/15/27 144A                              | CUSIP: 65342QAB8<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |    105000 | PA      | $103966.55    | 0.37%             | 2027-09-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Univision Communications Inc.                                                        | UVN 8.5 07/31/31 144A                               | CUSIP: 914906AZ5<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100302.36    | 0.36%             | 2031-07-31      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Darling Ingredients, Inc                                                             | DAR 5.25 04/15/27 144A                              | CUSIP: 237266AH4<br>LEI: L1N0SPPKS7EXZYUMZ898 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99926.05     | 0.35%             | 2027-04-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| VistaJet Malta Finance PLC /XO Management Holding Inc.                               | VSTJET 6.375 02/01/30 144A                          | CUSIP: 92840JAB5<br>LEI: 5299001UK94VGT0CPQ36 | Long             | DBT              | CORP              | MT        |    105000 | PA      | $90638.81     | 0.32%             | 2030-02-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| PBF Holding Company LLC and PBF Finance Corp.                                        | PBFENE 6 02/15/28                                   | CUSIP: 69318FAJ7<br>LEI: 549300TILVIIV9FLL461 | Long             | DBT              | CORP              | US        |    105000 | PA      | $104716.82    | 0.37%             | 2028-02-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CREDIT ACCEPTANCE CORP                                                               | CACC 6.625 03/15/30                                 | CUSIP: 225310AS0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $97511.81     | 0.35%             | 2030-03-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| StoneX Escrow Issuer LLC                                                             | SNEX 6.875 07/15/32 144A                            | CUSIP: 86189AAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $101313.45    | 0.36%             | 2032-07-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| UNITI SERVICES LLC                                                                   | UNIT 7.5 10/15/33 144A                              | CUSIP: 97382BAB5<br>LEI: 549300KT9GVEBYCD2N29 | Long             | DBT              | CORP              | US        |    100000 | PA      | $103931.57    | 0.37%             | 2033-10-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| BRUNDAGE-BONE CONCRETE PUMPING HOLDING INC                                           | BBCP 7.5 02/01/32 144A                              | CUSIP: 66981QAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $100985.37    | 0.36%             | 2032-02-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CITGO Petroleum Corporation                                                          | CITPET 8.375 01/15/29 144A                          | CUSIP: 17302XAN6<br>LEI: YX52P86PXMLYDOTUQ225 | Long             | DBT              | CORP              | US        |    100000 | PA      | $103231.12    | 0.37%             | 2029-01-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Global Partners LP / GLP Finance Corp.                                               | GLP 7.125 07/01/33 144A                             | CUSIP: 37954FAL8<br>LEI: 549300PCHWTW9P4DU444 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100842.31    | 0.36%             | 2033-07-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| PG&E Corporation                                                                     | PCG 5.25 07/01/30                                   | CUSIP: 69331CAJ7<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | DBT              | CORP              | US        |    105000 | PA      | $103608.41    | 0.37%             | 2030-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Specialty Building Products Holdings LLC / SBP Finance Corp.                         | SBPLLC 7.75 10/15/29 144A                           | CUSIP: 84749AAC1<br>LEI: 549300ICFD46O3KMJC06 | Long             | DBT              | CORP              | US        |    100000 | PA      | $86938.79     | 0.31%             | 2029-10-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Asbury Automotive Group, Inc.                                                        | ABG 5 02/15/32 144A                                 | CUSIP: 043436AX2<br>LEI: 549300JH4DTA7U42GL91 | Long             | DBT              | CORP              | US        |    105000 | PA      | $99513.74     | 0.35%             | 2032-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Flash Compute LLC                                                                    | FLASHC 7.25 12/31/30 144A                           | CUSIP: 33853QAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $100867.24    | 0.36%             | 2030-12-31      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Taylor Morrison Communities Inc                                                      | TMHC 5.75 01/15/28 144A                             | CUSIP: 87724RAB8<br>LEI: 549300O1Z08HI2MRK572 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100168.32    | 0.36%             | 2028-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| VIKING OCEAN CRUISES SHIP VII LTD                                                    | VIKCRU 5.625 02/15/29 144A                          | CUSIP: 92682RAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    100000 | PA      | $99795.35     | 0.35%             | 2029-02-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Coinbase Global Inc                                                                  | COIN 3.375 10/01/28 144A                            | CUSIP: 19260QAC1<br>LEI: 5493004G3J2SC154DU06 | Long             | DBT              | CORP              | US        |    110000 | PA      | $103015.22    | 0.37%             | 2028-10-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-05-27

**Name of Applicant:** Manning & Napier Fund, Inc.

**Signature:** Jill Peeper

**Name of Signer:** Jill Peeper

**Title:** Principal Financial Officer and Treasurer