# EDGAR Filing Document

**Accession Number:** 0001005020
**File Stem:** 0001752724-25-203844
**Filing Date:** 2025-8
**Character Count:** 194804
**Document Hash:** 0cb6bb8ef778ebfd720e47e69138fdcd
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-203844.hdr.sgml**: 20250826

**ACCESSION NUMBER**: 0001752724-25-203844

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250826

**DATE AS OF CHANGE**: 20250826

**PERIOD START**: 20250930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VIRTUS OPPORTUNITIES TRUST
- **CENTRAL INDEX KEY:** 0001005020

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07455
- **FILM NUMBER:** 251253610

**BUSINESS ADDRESS:**
- **STREET 1:** 101 MUNSON STREET
- **CITY:** GREENFIELD
- **STATE:** MA
- **ZIP:** 01301
- **BUSINESS PHONE:** 800-243-1574

**MAIL ADDRESS:**
- **STREET 1:** ONE FINANCIAL PLAZA
- **STREET 2:** 26TH FLOOR
- **CITY:** HARTFORD
- **STATE:** CT
- **ZIP:** 06103

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PHOENIX OPPORTUNITIES TRUST
- **DATE OF NAME CHANGE:** 20060127

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PHOENIX SENECA FUNDS
- **DATE OF NAME CHANGE:** 19990122

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SENECA FUNDS
- **DATE OF NAME CHANGE:** 19951218

## Series and Classes Contracts Data

### Virtus Newfleet Senior Floating Rate Fund (Series ID: S000020772)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000058006 | Class A      | PSFRX           |
| C000058007 | Class C      | PFSRX           |
| C000058008 | Class I      | PSFIX           |
| C000176710 | Class R6     | VRSFX           |

## Nport-Ex

#### VIRTUS Newfleet Senior Floating Rate Fund

#### SCHEDULE OF INVESTMENTS (Unaudited)

#### June 30, 2025
($ reported in thousands)

---

| | | |
|:---|:---|:---|
|  | **Par Value** | **Value** |
| **Corporate Bonds and Notes—4.5%** | **Corporate Bonds and Notes—4.5%** | **Corporate Bonds and Notes—4.5%** |
| **Communication Services—0.4%** | **Communication Services—0.4%** |  |
| CSC Holdings LLC 144A<br> 7.500%, 4/1/28<sup>(1)</sup> | $200 | $149 |
| DIRECTV Financing LLC 144A<br> 8.875%, 2/1/30<sup>(1)</sup> | &nbsp;&nbsp; 35 | &nbsp;&nbsp; 34 |
| Gray Media, Inc. 144A<br> 7.000%, 5/15/27<sup>(1)</sup> | &nbsp;&nbsp; 320 | &nbsp;&nbsp; 320 |
| Level 3 Financing, Inc. 144A<br> 4.250%, 7/1/28<sup>(1)</sup> | &nbsp;&nbsp; 55 | &nbsp;&nbsp; 50 |
| McGraw-Hill Education, Inc. 144A<br> 7.375%, 9/1/31<sup>(1)</sup> | &nbsp;&nbsp; 100 | &nbsp;&nbsp; 104 |
|  |  | &nbsp;&nbsp; 657 |
| **Consumer Discretionary—0.1%** | **Consumer Discretionary—0.1%** |  |
| PetSmart, Inc. 144A<br> 4.750%, 2/15/28<sup>(1)</sup> | &nbsp;&nbsp; 280 | &nbsp;&nbsp; 273 |
| **Consumer Staples—0.3%** | **Consumer Staples—0.3%** |  |
| Post Holdings, Inc. 144A<br> 6.375%, 3/1/33<sup>(1)</sup> | &nbsp;&nbsp; 205 | &nbsp;&nbsp; 207 |
| Primo Water Holdings, Inc. 144A<br> 6.250%, 4/1/29<sup>(1)</sup> | &nbsp;&nbsp; 225 | &nbsp;&nbsp; 226 |
| Sigma Holdco B.V. 144A<br> 7.875%, 5/15/26<sup>(1)</sup> | &nbsp;&nbsp; 180 | &nbsp;&nbsp; 180 |
|  |  | &nbsp;&nbsp; 613 |
| **Energy—0.3%** | **Energy—0.3%** |  |
| Hess Midstream Operations LP 144A<br> 5.875%, 3/1/28<sup>(1)</sup> | &nbsp;&nbsp; 280 | &nbsp;&nbsp; 284 |
| Kraken Oil & Gas Partners LLC 144A<br> 7.625%, 8/15/29<sup>(1)</sup> | &nbsp;&nbsp; 220 | &nbsp;&nbsp; 216 |
|  |  | &nbsp;&nbsp; 500 |
| **Financials—1.8%** | **Financials—1.8%** |  |
| Acrisure LLC 144A<br> 6.000%, 8/1/29<sup>(1)</sup> | &nbsp;&nbsp; 515 | &nbsp;&nbsp; 501 |
| Albion Financing 1 S.a.r.l. 144A<br> 7.000%, 5/21/30<sup>(1)</sup> | &nbsp;&nbsp; 500 | &nbsp;&nbsp; 510 |
| BroadStreet Partners, Inc. 144A<br> 5.875%, 4/15/29<sup>(1)</sup> | &nbsp;&nbsp; 300 | &nbsp;&nbsp; 296 |
| Citadel Securities Global Holdings LLC 144A<br> 5.500%, 6/18/30<sup>(1)</sup> | &nbsp;&nbsp; 180 | &nbsp;&nbsp; 182 |
| Grifols S.A. 144A<br> 4.750%, 10/15/28<sup>(1)</sup> | &nbsp;&nbsp; 200 | &nbsp;&nbsp; 192 |
| JH North America Holdings, Inc. 144A<br> 5.875%, 1/31/31<sup>(1)</sup> | &nbsp;&nbsp; 225 | &nbsp;&nbsp; 227 |
| Ladder Capital Finance Holdings LLLP 144A<br> 4.250%, 2/1/27<sup>(1)</sup> | &nbsp;&nbsp; 225 | &nbsp;&nbsp; 222 |
| Merlin Entertainments Group U.S. Holdings, Inc. 144A<br> 7.375%, 2/15/31<sup>(1)</sup> | &nbsp;&nbsp; 320 | &nbsp;&nbsp; 286 |
| NCR Atleos Corp. 144A<br> 9.500%, 4/1/29<sup>(1)</sup> | &nbsp;&nbsp; 334 | &nbsp;&nbsp; 366 |
| Opal Bidco SAS 144A<br> 6.500%, 3/31/32<sup>(1)</sup> | &nbsp;&nbsp; 30 | &nbsp;&nbsp; 31 |
| QXO Building Products, Inc. 144A<br> 6.750%, 4/30/32<sup>(1)</sup> | &nbsp;&nbsp; 560 | &nbsp;&nbsp; 577 |
|  |  | &nbsp;&nbsp; 3390 |

---

---

| | | |
|:---|:---|:---|
|  | **Par Value** | **Value** |
| **Health Care—0.7%** | **Health Care—0.7%** |  |
| Community Health Systems, Inc. 144A<br> 5.625%, 3/15/27<sup>(1)</sup> | $620 | $611 |
| LifePoint Health, Inc. 144A<br> 9.875%, 8/15/30<sup>(1)</sup> | &nbsp;&nbsp; 550 | &nbsp;&nbsp;&nbsp; 595 |
| Medline Borrower LP 144A<br> 3.875%, 4/1/29<sup>(1)</sup> | &nbsp;&nbsp; 150 | &nbsp;&nbsp;&nbsp; 144 |
|  |  | &nbsp;&nbsp;&nbsp; 1350 |
| **Industrials—0.2%** | **Industrials—0.2%** |  |
| Garda World Security Corp. 144A<br> 8.375%, 11/15/32<sup>(1)</sup> | &nbsp;&nbsp; 200 | &nbsp;&nbsp;&nbsp; 205 |
| Icahn Enterprises LP 144A<br> 10.000%, 11/15/29<sup>(1)</sup> | &nbsp;&nbsp; 100 | &nbsp;&nbsp;&nbsp; 99 |
|  |  | &nbsp;&nbsp;&nbsp; 304 |
| **Information Technology—0.1%** | **Information Technology—0.1%** |  |
| Helios Software Holdings, Inc. 144A<br> 8.750%, 5/1/29<sup>(1)</sup> | &nbsp;&nbsp; 60 | &nbsp;&nbsp;&nbsp; 62 |
| Rocket Software, Inc. 144A<br> 9.000%, 11/28/28<sup>(1)</sup> | &nbsp;&nbsp; 75 | &nbsp;&nbsp;&nbsp; 77 |
|  |  | &nbsp;&nbsp;&nbsp; 139 |
| **Materials—0.6%** | **Materials—0.6%** |  |
| Graham Packaging Co., Inc. 144A<br> 7.125%, 8/15/28<sup>(1)</sup> | &nbsp;&nbsp; 615 | &nbsp;&nbsp;&nbsp; 614 |
| Mauser Packaging Solutions Holding Co. 144A<br> 9.250%, 4/15/27<sup>(1)</sup> | &nbsp;&nbsp; 190 | &nbsp;&nbsp;&nbsp; 189 |
| Trivium Packaging Finance B.V. 144A<br> 8.250%, 7/15/30<sup>(1)</sup> | &nbsp;&nbsp; 225 | &nbsp;&nbsp;&nbsp; 238 |
|  |  | &nbsp;&nbsp;&nbsp; 1041 |
| **Total Corporate Bonds and Notes<br> (Identified Cost $8,059)** | **Total Corporate Bonds and Notes<br> (Identified Cost $8,059)** | &nbsp;&nbsp;&nbsp;&nbsp; **8267** |
| **Leveraged Loans—90.3%** | **Leveraged Loans—90.3%** | **Leveraged Loans—90.3%** |
| **Aerospace—2.9%** | **Aerospace—2.9%** |  |
| American Airlines, Inc. (3 month Term SOFR + 2.250%)<br> 6.522%, 4/20/28<sup>(2)</sup> | &nbsp;&nbsp; 958 | &nbsp;&nbsp;&nbsp; 951 |
| Brown Group Holding LLC (1 month Term SOFR + 2.500%)<br> 6.827%, 7/1/31<sup>(2)</sup> | &nbsp;&nbsp; 903 | &nbsp;&nbsp;&nbsp; 903 |
| Goat Holdco LLC Tranche B (1 month Term SOFR + 2.750%)<br> 7.079%, 1/27/32<sup>(2)</sup> | &nbsp;&nbsp; 763 | &nbsp;&nbsp;&nbsp; 764 |
| Kaman Corp. (3-6 month Term SOFR + 2.750%)<br> 7.025% - 7.083%, 2/26/32<sup>(2)</sup> | &nbsp;&nbsp; 769 | &nbsp;&nbsp;&nbsp; 768 |
| Peraton Corp. Tranche B, First Lien (1 month Term SOFR + 3.850%)<br> 8.177%, 2/1/28<sup>(2)</sup> | &nbsp;&nbsp; 585 | &nbsp;&nbsp;&nbsp; 515 |
| TransDigm, Inc. Tranche J (3 month Term SOFR + 2.500%)<br> 6.796%, 2/28/31<sup>(2)</sup> | &nbsp;&nbsp; 1429 | &nbsp;&nbsp;&nbsp; 1431 |
|  |  | &nbsp;&nbsp;&nbsp; 5332 |
| **Chemicals—3.3%** | **Chemicals—3.3%** |  |
| Ineos Finance plc 2030 (1 month Term SOFR + 3.250%)<br> 7.577%, 2/18/30<sup>(2)</sup> | &nbsp;&nbsp; 1216 | &nbsp;&nbsp;&nbsp; 1163 |

---

See Notes to Schedule of Investments

------

#### VIRTUS Newfleet Senior Floating Rate Fund

#### SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

#### June 30, 2025
($ reported in thousands)

---

| | | |
|:---|:---|:---|
|  | **Par Value** | **Value** |
| **Chemicals—continued** | **Chemicals—continued** |  |
| Ineos U.S. Finance LLC 2031, Tranche B (1 month Term SOFR + 3.000%)<br> 7.327%, 2/7/31<sup>(2)</sup> | $681 | $648 |
| Lummus Technology Holdings V LLC Tranche B (1 month Term SOFR + 3.000%)<br> 7.327%, 12/31/29<sup>(2)</sup> | &nbsp;&nbsp; 1003 | &nbsp;&nbsp; 1005 |
| Nouryon Finance B.V. 2024, Tranche B-1 (3 month Term SOFR + 3.250%)<br> 7.510%, 4/3/28<sup>(2)</sup> | &nbsp;&nbsp; 1116 | &nbsp;&nbsp; 1120 |
| USALCO LLC (1 month Term SOFR + 4.000%)<br> 8.327%, 9/30/31<sup>(2)</sup> | &nbsp;&nbsp; 545 | &nbsp;&nbsp; 548 |
| Windsor Holdings III LLC 2025, Tranche B (1 month Term SOFR + 2.750%)<br> 7.072%, 8/1/30<sup>(2)</sup> | &nbsp;&nbsp; 874 | &nbsp;&nbsp; 874 |
| WR Grace Holdings LLC (3 month Term SOFR + 3.250%)<br> 7.546%, 9/22/28<sup>(2)</sup> | &nbsp;&nbsp; 748 | &nbsp;&nbsp; 748 |
|  |  | &nbsp;&nbsp; 6106 |
| **Consumer Durables—1.0%** | **Consumer Durables—1.0%** |  |
| Gloves Buyer, Inc. (1 month Term SOFR + 4.000%)<br> 8.321%, 5/21/32<sup>(2)</sup> | &nbsp;&nbsp; 515 | &nbsp;&nbsp; 504 |
| Madison Safety & Flow LLC 2025, Tranche B (1 month Term SOFR + 2.750%)<br> 7.077%, 9/26/31<sup>(2)</sup> | &nbsp;&nbsp; 551 | &nbsp;&nbsp; 551 |
| Skechers U.S.A., Inc. 2025, Tranche B, First Lien<br> 0.000%, 6/25/32<sup>(2)(3)</sup> | &nbsp;&nbsp; 185 | &nbsp;&nbsp; 186 |
| White Cap Buyer LLC Tranche C (1 month Term SOFR + 3.250%)<br> 7.577%, 10/19/29<sup>(2)</sup> | &nbsp;&nbsp; 646 | &nbsp;&nbsp; 642 |
|  |  | &nbsp;&nbsp; 1883 |
| **Consumer Non-Durables—1.5%** | **Consumer Non-Durables—1.5%** |  |
| AI Aqua Merger Sub, Inc. 2025, Tranche B (1 month Term SOFR + 3.000%)<br> 7.324%, 7/31/28<sup>(2)</sup> | &nbsp;&nbsp; 1077 | &nbsp;&nbsp; 1075 |
| Albion Financing 3 S.a.r.l. 2025 (3 month Term SOFR + 3.000%)<br> 7.321%, 8/16/29<sup>(2)</sup> | &nbsp;&nbsp; 431 | &nbsp;&nbsp; 432 |
| DS Parent, Inc. Tranche B (3 month Term SOFR + 5.500%)<br> 9.796%, 1/31/31<sup>(2)</sup> | &nbsp;&nbsp; 642 | &nbsp;&nbsp; 574 |
| Kronos Acquisition Holdings, Inc. 2024 (3 month Term SOFR + 4.000%)<br> 8.296%, 7/8/31<sup>(2)</sup> | &nbsp;&nbsp; 872 | &nbsp;&nbsp; 777 |
|  |  | &nbsp;&nbsp; 2858 |
| **Energy—4.1%** | **Energy—4.1%** |  |
| CQP Holdco LP (3 month Term SOFR + 2.000%)<br> 6.296%, 12/31/30<sup>(2)</sup> | &nbsp;&nbsp; 631 | &nbsp;&nbsp; 631 |
| CVR CHC LP Tranche B (3 month Term SOFR + 4.000%)<br> 8.296%, 12/30/27<sup>(2)</sup> | &nbsp;&nbsp; 405 | &nbsp;&nbsp; 404 |
| Epic Crude Services LP Tranche B (3 month Term SOFR + 3.000%)<br> 7.256%, 10/15/31<sup>(2)</sup> | &nbsp;&nbsp; 718 | &nbsp;&nbsp; 720 |
| Freeport LNG Investments LLP 2025, Tranche B (1 month Term SOFR + 3.250%)<br> 7.522%, 12/21/28<sup>(2)</sup> | &nbsp;&nbsp; 818 | &nbsp;&nbsp; 818 |

---

---

| | | |
|:---|:---|:---|
|  | **Par Value** | **Value** |
| **Energy—continued** | **Energy—continued** |  |
| GIP Pilot Acquisition Partners LP (3 month Term SOFR + 2.000%)<br> 6.277%, 10/4/30<sup>(2)</sup> | $283 | $283 |
| Hamilton Projects Acquiror LLC |  |  |
| &nbsp;&nbsp;&nbsp;0.000%, 5/30/31<sup>(2)(3)</sup> | &nbsp;&nbsp; 285 | &nbsp;&nbsp; 286 |
| &nbsp;&nbsp;&nbsp;First Lien (1 month Term SOFR + 3.000%)<br> 7.327%, 5/31/31<sup>(2)</sup> | &nbsp;&nbsp; 158 | &nbsp;&nbsp; 158 |
| Hilcorp Energy I LP Tranche B (1 month Term SOFR + 2.000%)<br> 6.314%, 2/5/30<sup>(2)</sup> | &nbsp;&nbsp; 628 | &nbsp;&nbsp; 628 |
| Hunterstown Generation LLC (3 month Term SOFR + 3.500% - 3 month PRIME + 2.500%)<br> 7.796% - 10.000%, 11/6/31 | &nbsp;&nbsp; 571 | &nbsp;&nbsp; 570 |
| M6 ETX Holdings II Midco LLC (1 month Term SOFR + 3.000%)<br> 7.327%, 3/25/32<sup>(2)</sup> | &nbsp;&nbsp; 295 | &nbsp;&nbsp; 296 |
| Oryx Midstream Services Permian Basin LLC Tranche B (1 month Term SOFR + 2.250%)<br> 6.572%, 10/5/28<sup>(2)</sup> | &nbsp;&nbsp; 866 | &nbsp;&nbsp; 865 |
| Paragon Offshore Finance Co.<br> 0.000%, 7/16/21<sup>(4)(5)</sup> | &nbsp;&nbsp; 11 | &nbsp;&nbsp; — |
| Potomac Energy Center LLC<br> 0.000%, 3/14/32<sup>(2)(3)</sup> | &nbsp;&nbsp; 395 | &nbsp;&nbsp; 394 |
| South Field Energy LLC |  |  |
| &nbsp;&nbsp;&nbsp;Tranche B (3 month Term SOFR + 3.250%)<br> 7.546%, 8/29/31<sup>(2)</sup> | &nbsp;&nbsp; 189 | &nbsp;&nbsp; 189 |
| &nbsp;&nbsp;&nbsp;Tranche C (3 month Term SOFR + 3.250%)<br> 7.546%, 8/29/31<sup>(2)</sup> | &nbsp;&nbsp; 12 | &nbsp;&nbsp; 12 |
| Traverse Midstream Partners LLC Tranche B (3 month Term SOFR + 3.000%)<br> 7.280%, 2/16/28<sup>(2)</sup> | &nbsp;&nbsp; 789 | &nbsp;&nbsp; 790 |
| Whitewater DBR Holdco LLC Tranche C (3 month Term SOFR + 2.250%)<br> 6.562%, 3/3/31<sup>(2)</sup> | &nbsp;&nbsp; 620 | &nbsp;&nbsp; 620 |
|  |  | &nbsp;&nbsp; 7664 |
| **Financials—6.2%** | **Financials—6.2%** |  |
| Acrisure LLC |  |  |
| &nbsp;&nbsp;&nbsp;2024, Tranche B-6 (1 month Term SOFR + 3.000%)<br> 7.327%, 11/6/30<sup>(2)</sup> | &nbsp;&nbsp; 317 | &nbsp;&nbsp; 316 |
| &nbsp;&nbsp;&nbsp;2025, Tranche B7 (1 month Term SOFR + 3.250%)<br> 7.577%, 6/5/32<sup>(2)</sup> | &nbsp;&nbsp; 2102 | &nbsp;&nbsp; 2100 |
| AL GCX Fund VIII Holdings LLC Tranche B<br> 0.000%, 1/30/32<sup>(2)(3)</sup> | &nbsp;&nbsp; 740 | &nbsp;&nbsp; 739 |
| Alera Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;(1 month Term SOFR + 5.500%)<br> 9.827%, 5/20/33<sup>(2)</sup> | &nbsp;&nbsp; 215 | &nbsp;&nbsp; 219 |
| &nbsp;&nbsp;&nbsp;2025 (1 month Term SOFR + 3.250%)<br> 7.577%, 5/30/32<sup>(2)</sup> | &nbsp;&nbsp; 235 | &nbsp;&nbsp; 236 |
| AmWINS Group, Inc. (1 month Term SOFR + 2.250%)<br> 6.577%, 1/30/32<sup>(2)</sup> | &nbsp;&nbsp; 856 | &nbsp;&nbsp; 856 |
| Ardonagh Group FinCo Pty Ltd. 2025, Tranche B (3 month Term SOFR + 5.262%)<br> 7.039% - 7.046%, 2/15/31<sup>(2)</sup> | &nbsp;&nbsp; 853 | &nbsp;&nbsp; 845 |
| Asurion LLC Tranche B-9 (1 month Term SOFR + 3.364%)<br> 7.691%, 7/31/27<sup>(2)</sup> | &nbsp;&nbsp; 1845 | &nbsp;&nbsp; 1842 |
| BroadStreet Partners, Inc. 2024, Tranche B (1 month Term SOFR + 3.000%)<br> 7.327%, 6/13/31<sup>(2)</sup> | &nbsp;&nbsp; 550 | &nbsp;&nbsp; 551 |

---

See Notes to Schedule of Investments

------

#### VIRTUS Newfleet Senior Floating Rate Fund

#### SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

#### June 30, 2025
($ reported in thousands)

---

| | | |
|:---|:---|:---|
|  | **Par Value** | **Value** |
| **Financials—continued** | **Financials—continued** |  |
| Citadel Securities LP 2024 (1 month Term SOFR + 2.000%)<br> 6.327%, 10/31/31<sup>(2)</sup> | $633 | $635 |
| Dynamo U.S. Bidco, Inc. Tranche B (3 month Term SOFR + 3.500%)<br> 7.798%, 10/1/31<sup>(2)</sup> | &nbsp;&nbsp; 149 | &nbsp;&nbsp; 149 |
| Focus Financial Partners LLC Tranche B<br> 0.000%, 9/15/31<sup>(2)(3)</sup> | &nbsp;&nbsp; 619 | &nbsp;&nbsp; 617 |
| HUB International Ltd. 2025 (3 month Term SOFR + 2.497%)<br> 6.769%, 6/20/30<sup>(2)</sup> | &nbsp;&nbsp; 590 | &nbsp;&nbsp; 592 |
| PEX Holdings LLC (3 month Term SOFR + 2.750%)<br> 6.967%, 11/20/31<sup>(2)</sup> | &nbsp;&nbsp; 728 | &nbsp;&nbsp; 728 |
| Trucordia (1 month Term SOFR + 3.250%)<br> 7.564%, 6/14/32<sup>(2)</sup> | &nbsp;&nbsp; 365 | &nbsp;&nbsp; 365 |
| Truist Insurance Holdings LLC 2024, Tranche B (3 month Term SOFR + 2.750%)<br> 7.046%, 5/6/31<sup>(2)</sup> | &nbsp;&nbsp; 600 | &nbsp;&nbsp; 600 |
|  |  | &nbsp;&nbsp; 11390 |
| **Food / Tobacco—3.9%** | **Food / Tobacco—3.9%** |  |
| Aspire Bakeries Holdings LLC (1 month Term SOFR + 3.500%)<br> 7.822%, 12/23/30<sup>(2)</sup> | &nbsp;&nbsp; 322 | &nbsp;&nbsp; 323 |
| CHG PPC Parent LLC 2021 (1 month Term SOFR + 3.114%)<br> 7.441%, 12/8/28<sup>(2)</sup> | &nbsp;&nbsp; 576 | &nbsp;&nbsp; 577 |
| Del Monte Foods, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;(3 month Term SOFR + 4.900%)<br> 9.210%, 8/2/28<sup>(2)</sup> | &nbsp;&nbsp; 795 | &nbsp;&nbsp; 127 |
| &nbsp;&nbsp;&nbsp;(3 month Term SOFR + 8.150%)<br> 12.474%, 8/2/28<sup>(2)</sup> | &nbsp;&nbsp; 406 | &nbsp;&nbsp; 364 |
| &nbsp;&nbsp;&nbsp;(3-6 month Term SOFR + 4.400%)<br> 8.710% - 8.724%, 8/2/28<sup>(2)</sup> | &nbsp;&nbsp; 345 | &nbsp;&nbsp; 190 |
| Froneri International Ltd. Tranche B-4 (6 month Term SOFR + 2.000%)<br> 6.237%, 9/17/31<sup>(2)</sup> | &nbsp;&nbsp; 1184 | &nbsp;&nbsp; 1170 |
| JBT Marel Corp. (1 month Term SOFR + 2.100%)<br> 6.427%, 1/2/32<sup>(2)</sup> | &nbsp;&nbsp; 190 | &nbsp;&nbsp; 190 |
| Pegasus Bidco B.V. 2024 (3 month Term SOFR + 3.250%)<br> 7.576%, 7/12/29<sup>(2)</sup> | &nbsp;&nbsp; 847 | &nbsp;&nbsp; 851 |
| Red SPV LLC (1 month Term SOFR + 2.250%)<br> 6.562%, 3/15/32<sup>(2)</sup> | &nbsp;&nbsp; 630 | &nbsp;&nbsp; 629 |
| Sazerac Co., Inc. Tranche B<br> 0.000%, 6/26/32<sup>(2)(3)</sup> | &nbsp;&nbsp; 340 | &nbsp;&nbsp; 340 |
| Sigma Holdco B.V. Tranche B-12 (6 month Term SOFR + 3.750%)<br> 8.107%, 1/3/28<sup>(2)</sup> | &nbsp;&nbsp; 1187 | &nbsp;&nbsp; 1187 |
| Triton Water Holdings, Inc. 2025 (3 month Term SOFR + 2.250%)<br> 6.546%, 3/31/28<sup>(2)</sup> | &nbsp;&nbsp; 1228 | &nbsp;&nbsp; 1231 |
|  |  | &nbsp;&nbsp; 7179 |
| **Food and Drug—0.3%** | **Food and Drug—0.3%** |  |
| Dechra Pharmaceuticals Holdings Ltd. Tranche B-1 (6 month Term SOFR + 3.250%)<br> 7.513%, 1/27/32<sup>(2)</sup> | &nbsp;&nbsp; 519 | &nbsp;&nbsp; 520 |

---

---

| | | |
|:---|:---|:---|
|  | **Par Value** | **Value** |
| **Forest Prod / Containers—2.2%** | **Forest Prod / Containers—2.2%** |  |
| Clydesdale Acquisition Holdings, Inc. Tranche B (1 month Term SOFR + 3.175%)<br> 7.502%, 4/13/29<sup>(2)</sup> | $1007 | $1005 |
| Klockner Pentaplast of America, Inc. Tranche B (6 month Term SOFR + 4.975%)<br> 9.227%, 2/12/26<sup>(2)</sup> | &nbsp;&nbsp; 989 | &nbsp;&nbsp; 906 |
| Mauser Packaging Solutions Holding Co. (1 month Term SOFR + 3.000%)<br> 7.322% - 7.324%, 4/15/27<sup>(2)</sup> | &nbsp;&nbsp; 614 | &nbsp;&nbsp; 614 |
| TricorBraun, Inc. (1 month Term SOFR + 3.364%)<br> 7.691%, 3/3/28<sup>(2)</sup> | &nbsp;&nbsp; 805 | &nbsp;&nbsp; 803 |
| Trident TPI Holdings, Inc. Tranche B-7 (3 month Term SOFR + 3.750%)<br> 8.046%, 9/15/28<sup>(2)</sup> | &nbsp;&nbsp; 764 | &nbsp;&nbsp; 750 |
|  |  | &nbsp;&nbsp; 4078 |
| **Gaming / Leisure—4.3%** | **Gaming / Leisure—4.3%** |  |
| Caesars Entertainment, Inc. Tranche B (1 month Term SOFR + 2.250%)<br> 6.577%, 2/6/30<sup>(2)</sup> | &nbsp;&nbsp; 576 | &nbsp;&nbsp; 575 |
| Catawba Nation Gaming Authority Tranche B (3 month Term SOFR + 4.750%)<br> 9.046%, 3/28/32<sup>(2)</sup> | &nbsp;&nbsp; 375 | &nbsp;&nbsp; 379 |
| Entain plc Tranche B-3 (6 month Term SOFR + 2.850%)<br> 7.016%, 10/31/29<sup>(2)</sup> | &nbsp;&nbsp; 277 | &nbsp;&nbsp; 278 |
| Fertitta Entertainment LLC Tranche B (1 month Term SOFR + 3.500%)<br> 7.827%, 1/27/29<sup>(2)</sup> | &nbsp;&nbsp; 600 | &nbsp;&nbsp; 599 |
| Flutter Entertainment plc Tranche B (3 month Term SOFR + 2.000%)<br> 6.296%, 6/4/32<sup>(2)</sup> | &nbsp;&nbsp; 660 | &nbsp;&nbsp; 659 |
| Great Canadian Gaming 2024 (3 month Term SOFR + 4.750%)<br> 9.074%, 11/1/29<sup>(2)</sup> | &nbsp;&nbsp; 231 | &nbsp;&nbsp; 226 |
| J&J Ventures Gaming LLC 2025, Tranche B (1 month Term SOFR + 3.500%)<br> 7.827%, 4/26/30<sup>(2)</sup> | &nbsp;&nbsp; 670 | &nbsp;&nbsp; 661 |
| Life Time, Inc. 2024 (3 month Term SOFR + 2.500%)<br> 6.535%, 11/5/31<sup>(2)</sup> | &nbsp;&nbsp; 776 | &nbsp;&nbsp; 778 |
| Motion Finco LLC Tranche B-3 (3 month Term SOFR + 3.500%)<br> 7.796%, 11/12/29<sup>(2)</sup> | &nbsp;&nbsp; 621 | &nbsp;&nbsp; 590 |
| Ontario Gaming GTA Ltd. Partnership Tranche B (3 month Term SOFR + 4.250%)<br> 8.546%, 8/1/30<sup>(2)</sup> | &nbsp;&nbsp; 876 | &nbsp;&nbsp; 866 |
| Scientific Games Holdings LP 2024 (3 month Term SOFR + 3.000%)<br> 7.285%, 4/4/29<sup>(2)</sup> | &nbsp;&nbsp; 866 | &nbsp;&nbsp; 864 |
| Scientific Games International, Inc. Tranche B-2 (1 month Term SOFR + 2.250%)<br> 6.564%, 4/14/29<sup>(2)</sup> | &nbsp;&nbsp; 721 | &nbsp;&nbsp; 720 |
| UFC Holdings LLC Tranche B-4 (3 month Term SOFR + 2.250%)<br> 6.571%, 11/21/31<sup>(2)</sup> | &nbsp;&nbsp; 721 | &nbsp;&nbsp; 724 |
|  |  | &nbsp;&nbsp; 7919 |
| **Health Care—10.8%** | **Health Care—10.8%** |  |
| Agiliti Health, Inc. 2023, Tranche B (3-6 month Term SOFR + 3.000%)<br> 7.216% - 7.291%, 5/1/30<sup>(2)</sup> | &nbsp;&nbsp; 835 | &nbsp;&nbsp; 807 |

---

See Notes to Schedule of Investments

------

#### VIRTUS Newfleet Senior Floating Rate Fund

#### SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

#### June 30, 2025
($ reported in thousands)

---

| | | |
|:---|:---|:---|
|  | **Par Value** | **Value** |
| **Health Care—continued** | **Health Care—continued** |  |
| AthenaHealth Group, Inc. (1 month Term SOFR + 2.750%)<br> 7.077%, 2/15/29<sup>(2)</sup> | $850 | $849 |
| Bausch & Lomb Corp. |  |  |
| &nbsp;&nbsp;&nbsp;0.000%, 5/10/27<sup>(2)(3)</sup> | &nbsp;&nbsp; 730 | &nbsp;&nbsp; 728 |
| &nbsp;&nbsp;&nbsp;(1 month Term SOFR + 4.000%)<br> 8.327%, 9/29/28<sup>(2)</sup> | &nbsp;&nbsp; 378 | &nbsp;&nbsp; 378 |
| CHG Healthcare Services, Inc. (3 month Term SOFR + 3.000%)<br> 7.333%, 9/29/28<sup>(2)</sup> | &nbsp;&nbsp; 867 | &nbsp;&nbsp; 870 |
| Cotiviti, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;(1 month Term SOFR + 2.750%)<br> 7.074%, 5/1/31<sup>(2)</sup> | &nbsp;&nbsp; 706 | &nbsp;&nbsp; 702 |
| &nbsp;&nbsp;&nbsp;(3 month Term SOFR + 0.000%)<br> 7.625%, 5/1/31<sup>(2)</sup> | &nbsp;&nbsp; 120 | &nbsp;&nbsp; 120 |
| Endo Finance Holdings, Inc. Tranche B (1 month Term SOFR + 4.000%)<br> 8.327%, 4/23/31<sup>(2)</sup> | &nbsp;&nbsp; 169 | &nbsp;&nbsp; 168 |
| Financiere Mendel (3 month Term SOFR + 2.750%)<br> 7.050%, 11/8/30<sup>(2)</sup> | &nbsp;&nbsp; 139 | &nbsp;&nbsp; 139 |
| Gainwell Acquisition Corp. Tranche B (3 month Term SOFR + 4.100%)<br> 8.396%, 10/1/27<sup>(2)</sup> | &nbsp;&nbsp; 741 | &nbsp;&nbsp; 713 |
| Global Medical Response, Inc. 2024 (3 month Term SOFR + 4.750%)<br> 9.079%, 10/31/28<sup>(2)</sup> | &nbsp;&nbsp; 558 | &nbsp;&nbsp; 558 |
| Grifols Worldwide Operations USA, Inc. Tranche B (3 month Term SOFR + 2.150%)<br> 6.483%, 11/15/27<sup>(2)</sup> | &nbsp;&nbsp; 1295 | &nbsp;&nbsp; 1290 |
| Hanger, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;(1 month Term SOFR + 3.500%)<br> 7.827%, 10/23/31<sup>(2)</sup> | &nbsp;&nbsp; 11 | &nbsp;&nbsp; 11 |
| &nbsp;&nbsp;&nbsp;(1 month Term SOFR + 3.500%)<br> 7.827%, 10/23/31<sup>(2)</sup> | &nbsp;&nbsp; 589 | &nbsp;&nbsp; 589 |
| Hunter Holdco 3 Ltd. First Lien (3 month Term SOFR + 4.350%)<br> 8.646%, 8/19/28<sup>(2)</sup> | &nbsp;&nbsp; 467 | &nbsp;&nbsp; 444 |
| IVC Acquisition Ltd. Tranche B-12 (3 month Term SOFR + 3.750%)<br> 8.046%, 12/12/28<sup>(2)</sup> | &nbsp;&nbsp; 855 | &nbsp;&nbsp; 859 |
| LifePoint Health, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;Tranche B (3 month Term SOFR + 3.750%)<br> 8.006%, 5/16/31<sup>(2)</sup> | &nbsp;&nbsp; 323 | &nbsp;&nbsp; 319 |
| &nbsp;&nbsp;&nbsp;Tranche B-2 (3 month Term SOFR + 3.500%)<br> 7.819%, 5/16/31<sup>(2)</sup> | &nbsp;&nbsp; 134 | &nbsp;&nbsp; 132 |
| Medline Borrower LP (1 month Term SOFR + 2.250%)<br> 6.577%, 10/23/28<sup>(2)</sup> | &nbsp;&nbsp; 1251 | &nbsp;&nbsp; 1252 |
| Modivcare, Inc. (3 month Term SOFR + 0.000%)<br> 4.296%, 7/1/31<sup>(2)</sup> | &nbsp;&nbsp; 153 | &nbsp;&nbsp; 112 |
| One Call Corp. Tranche B, First Lien (3 month Term SOFR + 5.762%)<br> 10.044%, 4/22/27<sup>(2)</sup> | &nbsp;&nbsp; 870 | &nbsp;&nbsp; 864 |
| Opal U.S. LLC Tranche B-2<br> 0.000%, 4/28/32<sup>(2)(3)</sup> | &nbsp;&nbsp; 785 | &nbsp;&nbsp; 788 |
| PAREXEL International, Inc. Tranche B (1 month Term SOFR + 2.500%)<br> 6.827%, 11/15/28<sup>(2)</sup> | &nbsp;&nbsp; 646 | &nbsp;&nbsp; 646 |
| Phoenix Guarantor, Inc. Tranche B-5 (1 month Term SOFR + 2.500%)<br> 6.827%, 2/21/31<sup>(2)</sup> | &nbsp;&nbsp; 881 | &nbsp;&nbsp; 883 |
| Pluto Acquisition I, Inc. Tranche B (3 month Term SOFR + 4.000%)<br> 8.299%, 9/20/28<sup>(2)</sup> | &nbsp;&nbsp; 624 | &nbsp;&nbsp; 543 |

---

---

| | | |
|:---|:---|:---|
|  | **Par Value** | **Value** |
| **Health Care—continued** | **Health Care—continued** |  |
| PointClickCare Technologies, Inc. 2024, Tranche B (3 month Term SOFR + 3.250%)<br> 7.416%, 11/3/31<sup>(2)</sup> | $284 | $285 |
| Radiology Partners, Inc. Tranche B<br> 0.000%, 6/25/32<sup>(2)(3)</sup> | &nbsp;&nbsp; 530 | &nbsp;&nbsp; 525 |
| Select Medical Corp. Tranche B-2 (1 month Term SOFR + 2.000%)<br> 6.327%, 12/3/31<sup>(2)</sup> | &nbsp;&nbsp; 702 | &nbsp;&nbsp; 703 |
| Southern Veterinary Partners LLC 2024 (3 month Term SOFR + 3.250%)<br> 7.527%, 12/4/31<sup>(2)</sup> | &nbsp;&nbsp; 869 | &nbsp;&nbsp; 869 |
| Star Parent, Inc. Tranche B (3 month Term SOFR + 4.000%)<br> 8.296%, 9/27/30<sup>(2)</sup> | &nbsp;&nbsp; 485 | &nbsp;&nbsp; 480 |
| Surgery Center Holdings, Inc. 2024, First Lien (1 month Term SOFR + 2.750%)<br> 7.077%, 12/19/30<sup>(2)</sup> | &nbsp;&nbsp; 953 | &nbsp;&nbsp; 956 |
| Team Health Holdings, Inc. (3 month Term SOFR + 5.250%)<br> 9.530%, 3/2/27<sup>(2)</sup> | &nbsp;&nbsp; 387 | &nbsp;&nbsp; 384 |
| Upstream Newco, Inc. 2021 (3 month Term SOFR + 4.512%)<br> 8.791%, 11/20/26<sup>(2)</sup> | &nbsp;&nbsp; 256 | &nbsp;&nbsp; 198 |
| Viant Medical Holdings, Inc. Tranche B (1 month Term SOFR + 4.000%)<br> 8.327%, 10/29/31<sup>(2)</sup> | &nbsp;&nbsp; 752 | &nbsp;&nbsp; 745 |
|  |  | &nbsp;&nbsp; 19909 |
| **Housing—2.1%** | **Housing—2.1%** |  |
| Chariot Buyer LLC (1 month Term SOFR + 3.350%)<br> 7.677%, 11/3/28<sup>(2)</sup> | &nbsp;&nbsp; 892 | &nbsp;&nbsp; 893 |
| Cornerstone Building Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;Tranche B (1 month Term SOFR + 3.350%)<br> 7.662%, 4/12/28<sup>(2)</sup> | &nbsp;&nbsp; 380 | &nbsp;&nbsp; 338 |
| &nbsp;&nbsp;&nbsp;Tranche C (1 month Term SOFR + 4.500%)<br> 8.812%, 5/15/31<sup>(2)</sup> | &nbsp;&nbsp; 312 | &nbsp;&nbsp; 264 |
| Hunter Douglas Holding B.V. Tranche B-1 (3 month Term SOFR + 3.250%)<br> 7.546%, 1/17/32<sup>(2)</sup> | &nbsp;&nbsp; 477 | &nbsp;&nbsp; 475 |
| LBM Acquisition LLC Tranche B (1 month Term SOFR + 3.850%)<br> 8.162%, 6/6/31<sup>(2)</sup> | &nbsp;&nbsp; 531 | &nbsp;&nbsp; 495 |
| Quikrete Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2029, Tranche B (1 month Term SOFR + 2.250%)<br> 6.577%, 3/19/29<sup>(2)</sup> | &nbsp;&nbsp; 802 | &nbsp;&nbsp; 801 |
| &nbsp;&nbsp;&nbsp;Tranche B-3 (1 month Term SOFR + 2.250%)<br> 6.577%, 2/10/32<sup>(2)</sup> | &nbsp;&nbsp; 509 | &nbsp;&nbsp; 508 |
| QXO Building Products, Inc. Tranche B (3 month Term SOFR + 3.000%)<br> 7.296%, 4/30/32<sup>(2)</sup> | &nbsp;&nbsp; 59 | &nbsp;&nbsp; 59 |
|  |  | &nbsp;&nbsp; 3833 |
| **Information Technology—11.3%** | **Information Technology—11.3%** |  |
| Applied Systems, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2024, Second Lien (3 month Term SOFR + 4.500%)<br> 8.796%, 2/23/32<sup>(2)</sup> | &nbsp;&nbsp; 90 | &nbsp;&nbsp; 92 |
| &nbsp;&nbsp;&nbsp;Tranche B-1 (3 month Term SOFR + 2.500%)<br> 6.796%, 2/24/31<sup>(2)</sup> | &nbsp;&nbsp; 1775 | &nbsp;&nbsp; 1782 |
| BMC Software 2031 (3 month Term SOFR + 3.000%)<br> 7.333%, 7/30/31<sup>(2)</sup> | &nbsp;&nbsp; 771 | &nbsp;&nbsp; 766 |

---

See Notes to Schedule of Investments

------

#### VIRTUS Newfleet Senior Floating Rate Fund

#### SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

#### June 30, 2025
($ reported in thousands)

---

| | | |
|:---|:---|:---|
|  | **Par Value** | **Value** |
| **Information Technology—continued** | **Information Technology—continued** |  |
| Boost Newco Borrower LLC Tranche B-2 (3 month Term SOFR + 2.000%)<br> 6.296%, 1/31/31<sup>(2)</sup> | $577 | $578 |
| CE Intermediate I LLC (3 month Term SOFR + 3.150%)<br> 7.450%, 3/25/32<sup>(2)</sup> | &nbsp;&nbsp; 553 | &nbsp;&nbsp; 552 |
| Central Parent LLC 2024 (3 month Term SOFR + 3.250%)<br> 7.546%, 7/6/29<sup>(2)</sup> | &nbsp;&nbsp; 799 | &nbsp;&nbsp; 665 |
| Cloud Software Group, Inc. Tranche B (3 month Term SOFR + 3.750%)<br> 8.046%, 3/24/31<sup>(2)</sup> | &nbsp;&nbsp; 597 | &nbsp;&nbsp; 598 |
| ConnectWise LLC (3 month Term SOFR + 3.762%)<br> 8.057%, 9/29/28<sup>(2)</sup> | &nbsp;&nbsp; 1086 | &nbsp;&nbsp; 1091 |
| Delivery Hero SE Tranche B (3 month Term SOFR + 5.000%)<br> 9.300%, 12/12/29<sup>(2)</sup> | &nbsp;&nbsp; 665 | &nbsp;&nbsp; 669 |
| ECL Entertainment LLC Tranche B (1 month Term SOFR + 3.500%)<br> 7.827%, 8/31/30<sup>(2)</sup> | &nbsp;&nbsp; 754 | &nbsp;&nbsp; 753 |
| Ellucian Holding, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;Second Lien (1 month Term SOFR + 4.750%)<br> 9.077%, 11/15/32<sup>(2)</sup> | &nbsp;&nbsp; 70 | &nbsp;&nbsp; 71 |
| &nbsp;&nbsp;&nbsp;Tranche B-1 (1 month Term SOFR + 3.000%)<br> 7.327%, 10/9/29<sup>(2)</sup> | &nbsp;&nbsp; 671 | &nbsp;&nbsp; 672 |
| Epicor Software Corp. Tranche F (1 month Term SOFR + 2.750%)<br> 7.077%, 5/30/31<sup>(2)</sup> | &nbsp;&nbsp; 809 | &nbsp;&nbsp; 811 |
| Genesys Cloud Services Holdings II LLC 2025 (1 month Term SOFR + 2.500%)<br> 6.827%, 1/30/32<sup>(2)</sup> | &nbsp;&nbsp; 668 | &nbsp;&nbsp; 668 |
| Icon Parent I, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;(6 month Term SOFR + 3.000%)<br> 7.205%, 11/13/31<sup>(2)</sup> | &nbsp;&nbsp; 314 | &nbsp;&nbsp; 315 |
| &nbsp;&nbsp;&nbsp;Second Lien (6 month Term SOFR + 5.000%)<br> 9.205%, 11/12/32<sup>(2)</sup> | &nbsp;&nbsp; 140 | &nbsp;&nbsp; 141 |
| Indicor LLC Tranche D (3 month Term SOFR + 2.750%)<br> 7.046%, 11/22/29<sup>(2)</sup> | &nbsp;&nbsp; 1092 | &nbsp;&nbsp; 1089 |
| Infinite Bidco LLC First Lien (3 month Term SOFR + 4.012%)<br> 8.291%, 3/2/28<sup>(2)</sup> | &nbsp;&nbsp; 374 | &nbsp;&nbsp; 352 |
| ION Trading Finance Ltd. 2024, Tranche B (3 month Term SOFR + 3.500%)<br> 7.796%, 4/1/28<sup>(2)</sup> | &nbsp;&nbsp; 523 | &nbsp;&nbsp; 522 |
| Iron Mountain Information Management LLC Tranche B (1 month Term SOFR + 2.000%)<br> 6.327%, 1/31/31<sup>(2)</sup> | &nbsp;&nbsp; 853 | &nbsp;&nbsp; 851 |
| Javelin Buyer, Inc. (3 month Term SOFR + 3.000%)<br> 7.333%, 12/6/31<sup>(2)</sup> | &nbsp;&nbsp; 658 | &nbsp;&nbsp; 661 |
| NCR Atleos Corp. Tranche B (3 month Term SOFR + 3.750%)<br> 8.030%, 4/16/29<sup>(2)</sup> | &nbsp;&nbsp; 414 | &nbsp;&nbsp; 417 |
| Project Ruby Ultimate Parent Corp. Tranche B-4 (1 month Term SOFR + 3.114%)<br> 7.441%, 3/10/28<sup>(2)</sup> | &nbsp;&nbsp; 931 | &nbsp;&nbsp; 931 |
| Proofpoint, Inc. 2024 (1 month Term SOFR + 3.000%)<br> 7.327%, 8/31/28<sup>(2)</sup> | &nbsp;&nbsp; 1283 | &nbsp;&nbsp; 1283 |
| RealPage, Inc. First Lien (3 month Term SOFR + 3.262%)<br> 7.557%, 4/24/28<sup>(2)</sup> | &nbsp;&nbsp; 462 | &nbsp;&nbsp; 459 |
| Rocket Software, Inc. (1 month Term SOFR + 4.250%)<br> 8.577%, 11/28/28<sup>(2)</sup> | &nbsp;&nbsp; 815 | &nbsp;&nbsp; 817 |
| Shift4 Payments LLC<br> 0.000%, 5/10/32<sup>(2)(3)</sup> | &nbsp;&nbsp; 160 | &nbsp;&nbsp; 161 |

---

---

| | | |
|:---|:---|:---|
|  | **Par Value** | **Value** |
| **Information Technology—continued** | **Information Technology—continued** |  |
| UKG, Inc. Tranche B (1 month Term SOFR + 3.000%)<br> 7.311%, 2/10/31<sup>(2)</sup> | $1676 | $1682 |
| Vertiv Group Corp. Tranche B-3 (1 month Term SOFR + 1.750%)<br> 6.074%, 3/2/27<sup>(2)</sup> | &nbsp;&nbsp; 1362 | &nbsp;&nbsp; 1363 |
|  |  | &nbsp;&nbsp; 20812 |
| **Manufacturing—5.8%** | **Manufacturing—5.8%** |  |
| Alliance Laundry Systems LLC Tranche B (1 month Term SOFR + 2.500%)<br> 6.827%, 8/19/31<sup>(2)</sup> | &nbsp;&nbsp; 655 | &nbsp;&nbsp; 656 |
| Arcline FM Holdings LLC 2025 (3 month Term SOFR + 3.500%)<br> 7.578%, 6/24/30<sup>(2)</sup> | &nbsp;&nbsp; 1234 | &nbsp;&nbsp; 1239 |
| Chart Industries, Inc. 2024, Tranche B (3 month Term SOFR + 2.500%)<br> 6.788%, 3/15/30<sup>(2)</sup> | &nbsp;&nbsp; 672 | &nbsp;&nbsp; 673 |
| Construction Partners, Inc. (1 month Term SOFR + 2.500%)<br> 6.827%, 11/3/31<sup>(2)</sup> | &nbsp;&nbsp; 991 | &nbsp;&nbsp; 993 |
| CPM Holdings, Inc. (1 month Term SOFR + 4.500%)<br> 8.824%, 9/28/28<sup>(2)</sup> | &nbsp;&nbsp; 695 | &nbsp;&nbsp; 678 |
| Cube Industrials Buyer, Inc. (3 month Term SOFR + 3.250%)<br> 7.522%, 10/17/31<sup>(2)</sup> | &nbsp;&nbsp; 494 | &nbsp;&nbsp; 496 |
| Filtration Group Corp. 2025 (1 month Term SOFR + 3.000%)<br> 7.327%, 10/21/28<sup>(2)</sup> | &nbsp;&nbsp; 805 | &nbsp;&nbsp; 807 |
| Gates Corp. Tranche B-5 (1 month Term SOFR + 1.750%)<br> 6.077%, 6/4/31<sup>(2)</sup> | &nbsp;&nbsp; 883 | &nbsp;&nbsp; 883 |
| Glatfelter Corp. Tranche B (3 month Term SOFR + 4.250%)<br> 8.583%, 11/4/31<sup>(2)</sup> | &nbsp;&nbsp; 880 | &nbsp;&nbsp; 861 |
| LSF12 Crown U.S. Commercial Bidco LLC (1 month Term SOFR + 4.250%)<br> 8.574%, 12/2/31<sup>(2)</sup> | &nbsp;&nbsp; 815 | &nbsp;&nbsp; 819 |
| Madison IAQ LLC |  |  |
| &nbsp;&nbsp;&nbsp;(3 month Term SOFR + 2.500%)<br> 6.762%, 6/21/28<sup>(2)</sup> | &nbsp;&nbsp; 1103 | &nbsp;&nbsp; 1103 |
| &nbsp;&nbsp;&nbsp;2025 (3 month Term SOFR + 3.250%)<br> 7.510%, 5/6/32<sup>(2)</sup> | &nbsp;&nbsp; 285 | &nbsp;&nbsp; 286 |
| Titan Acquisition Ltd. (3-6 month Term SOFR + 4.500%)<br> 8.666% - 8.796%, 2/15/29<sup>(2)</sup> | &nbsp;&nbsp; 693 | &nbsp;&nbsp; 694 |
| TK Elevator Midco GmbH Tranche B (3 month Term SOFR + 3.000%)<br> 7.237%, 4/30/30<sup>(2)</sup> | &nbsp;&nbsp; 514 | &nbsp;&nbsp; 515 |
|  |  | &nbsp;&nbsp; 10703 |
| **Media / Telecom - Broadcasting—3.0%** | **Media / Telecom - Broadcasting—3.0%** |  |
| EOC Borrower LLC Tranche B (1 month Term SOFR + 3.000%)<br> 7.327%, 3/24/32<sup>(2)</sup> | &nbsp;&nbsp; 630 | &nbsp;&nbsp; 630 |
| Gray Television, Inc. Tranche D (1 month Term SOFR + 3.114%)<br> 7.439%, 12/1/28<sup>(2)</sup> | &nbsp;&nbsp; 1070 | &nbsp;&nbsp; 1033 |
| Nexstar Media, Inc. Tranche B<br> 0.000%, 6/24/32<sup>(2)(3)</sup> | &nbsp;&nbsp; 510 | &nbsp;&nbsp; 509 |

---

See Notes to Schedule of Investments

------

#### VIRTUS Newfleet Senior Floating Rate Fund

#### SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

#### June 30, 2025
($ reported in thousands)

---

| | | |
|:---|:---|:---|
|  | **Par Value** | **Value** |
| **Media / Telecom - Broadcasting—continued** | **Media / Telecom - Broadcasting—continued** |  |
| Sinclair Television Group, Inc. Tranche B-7 (1 month Term SOFR + 4.200%)<br> 8.527%, 12/31/30<sup>(2)</sup> | $1072 | $913 |
| Terrier Media Buyer, Inc. (3 month Term SOFR + 3.600%)<br> 7.896%, 6/18/29<sup>(2)</sup> | &nbsp;&nbsp; 1241 | &nbsp;&nbsp; 1199 |
| Univision Communications, Inc. 2024, First Lien (1 month Term SOFR + 3.614%)<br> 7.941%, 1/31/29<sup>(2)</sup> | &nbsp;&nbsp; 1223 | &nbsp;&nbsp; 1197 |
|  |  | &nbsp;&nbsp; 5481 |
| **Media / Telecom - Cable/Wireless Video—3.8%** | **Media / Telecom - Cable/Wireless Video—3.8%** |  |
| Charter Communications Operating LLC Tranche B-4 (3 month Term SOFR + 2.000%)<br> 6.298%, 12/7/30<sup>(2)</sup> | &nbsp;&nbsp; 923 | &nbsp;&nbsp; 922 |
| Cogeco Communications Finance USA LP Tranche B-1 (1 month Term SOFR + 3.250%)<br> 7.577%, 9/18/30<sup>(2)</sup> | &nbsp;&nbsp; 1054 | &nbsp;&nbsp; 1051 |
| CSC Holdings LLC 2022 (1 month Term SOFR + 4.500%)<br> 8.812%, 1/18/28<sup>(2)</sup> | &nbsp;&nbsp; 1556 | &nbsp;&nbsp; 1533 |
| DIRECTV Financing LLC 2024, Tranche B (3 month Term SOFR + 5.512%)<br> 9.791%, 8/2/29<sup>(2)</sup> | &nbsp;&nbsp; 1237 | &nbsp;&nbsp; 1225 |
| Eagle Broadband Investments LLC (3 month Term SOFR + 3.262%)<br> 7.557%, 11/12/27<sup>(2)</sup> | &nbsp;&nbsp; 1139 | &nbsp;&nbsp; 1134 |
| Virgin Media Bristol LLC Tranche N (1 month Term SOFR + 2.614%)<br> 6.926%, 1/31/28<sup>(2)</sup> | &nbsp;&nbsp; 1215 | &nbsp;&nbsp; 1198 |
|  |  | &nbsp;&nbsp; 7063 |
| **Media / Telecom - Diversified Media—1.8%** | **Media / Telecom - Diversified Media—1.8%** |  |
| Century DE Buyer LLC Tranche B (3 month Term SOFR + 3.500%)<br> 7.780%, 10/30/30<sup>(2)</sup> | &nbsp;&nbsp; 684 | &nbsp;&nbsp; 688 |
| Creative Artists Agency LLC Tranche B (1 month Term SOFR + 2.750%)<br> 7.077%, 10/1/31<sup>(2)</sup> | &nbsp;&nbsp; 543 | &nbsp;&nbsp; 544 |
| McGraw-Hill Education, Inc. Tranche B (1 month Term SOFR + 3.250%)<br> 7.577%, 8/6/31<sup>(2)</sup> | &nbsp;&nbsp; 615 | &nbsp;&nbsp; 617 |
| MH Sub I LLC 2023 (1 month Term SOFR + 4.250%)<br> 8.577%, 5/3/28<sup>(2)</sup> | &nbsp;&nbsp; 497 | &nbsp;&nbsp; 466 |
| Neptune Bidco U.S., Inc. Tranche B (3 month Term SOFR + 5.100%)<br> 9.330%, 4/11/29<sup>(2)</sup> | &nbsp;&nbsp; 1037 | &nbsp;&nbsp; 978 |
|  |  | &nbsp;&nbsp; 3293 |
| **Media / Telecom - Telecommunications—1.9%** | **Media / Telecom - Telecommunications—1.9%** |  |
| Cincinnati Bell, Inc. Tranche B-4 (1 month Term SOFR + 2.750%)<br> 7.077%, 11/22/28<sup>(2)</sup> | &nbsp;&nbsp; 1226 | &nbsp;&nbsp; 1226 |
| Level 3 Financing, Inc. Tranche B-3 (1 month Term SOFR + 3.000%)<br> 8.577%, 3/27/32<sup>(2)</sup> | &nbsp;&nbsp; 705 | &nbsp;&nbsp; 712 |
| Numericable U.S. LLC |  |  |
| &nbsp;&nbsp;&nbsp;Tranche B-11 (3 month PRIME + 1.750%)<br> 9.250%, 7/31/25 | &nbsp;&nbsp; 1300 | &nbsp;&nbsp; 1127 |

---

---

| | | |
|:---|:---|:---|
|  | **Par Value** | **Value** |
| **Media / Telecom - Telecommunications—continued** | **Media / Telecom - Telecommunications—continued** |  |
| &nbsp;&nbsp;&nbsp;Tranche B-12 (3 month PRIME + 2.688%)<br> 10.188%, 1/31/26 | $571 | $499 |
|  |  | &nbsp;&nbsp; 3564 |
| **Media / Telecom - Wireless Communications—0.5%** | **Media / Telecom - Wireless Communications—0.5%** |  |
| Viasat, Inc. (1 month Term SOFR + 4.614%)<br> 8.941%, 3/2/29<sup>(2)</sup> | &nbsp;&nbsp; 914 | &nbsp;&nbsp; 876 |
| **Metals / Minerals—0.4%** | **Metals / Minerals—0.4%** |  |
| Arsenal AIC Parent LLC 2025, Tranche B (1 month Term SOFR + 2.750%)<br> 7.077%, 8/18/30<sup>(2)</sup> | &nbsp;&nbsp; 748 | &nbsp;&nbsp; 747 |
| **Retail—2.2%** | **Retail—2.2%** |  |
| CNT Holdings I Corp. 2025 (3 month Term SOFR + 2.500%)<br> 6.780%, 11/8/32<sup>(2)</sup> | &nbsp;&nbsp; 908 | &nbsp;&nbsp; 910 |
| EG America LLC Tranche B (3 month Term SOFR + 4.250%)<br> 8.583%, 2/7/28<sup>(2)</sup> | &nbsp;&nbsp; 477 | &nbsp;&nbsp; 478 |
| Harbor Freight Tools USA, Inc. (1 month Term SOFR + 2.250%)<br> 6.577%, 6/11/31<sup>(2)</sup> | &nbsp;&nbsp; 703 | &nbsp;&nbsp; 687 |
| Peer Holding III B.V. Tranche B (3 month Term SOFR + 2.500%)<br> 6.796%, 10/26/30<sup>(2)</sup> | &nbsp;&nbsp; 568 | &nbsp;&nbsp; 571 |
| Petco Health & Wellness Co., Inc. First Lien (3 month Term SOFR + 3.512%)<br> 7.807%, 3/3/28<sup>(2)</sup> | &nbsp;&nbsp; 840 | &nbsp;&nbsp; 772 |
| PetsMart LLC (1 month Term SOFR + 3.850%)<br> 8.177%, 2/11/28<sup>(2)</sup> | &nbsp;&nbsp; 616 | &nbsp;&nbsp; 609 |
|  |  | &nbsp;&nbsp; 4027 |
| **Service—11.1%** | **Service—11.1%** |  |
| AAL Delaware Holdco, Inc. (1 month Term SOFR + 2.750%)<br> 7.077%, 7/30/31<sup>(2)</sup> | &nbsp;&nbsp; 174 | &nbsp;&nbsp; 174 |
| AlixPartners LLP (1 month Term SOFR + 2.614%)<br> 6.941%, 2/4/28<sup>(2)</sup> | &nbsp;&nbsp; 759 | &nbsp;&nbsp; 762 |
| Allied Universal Holdco LLC (1 month Term SOFR + 3.850%)<br> 8.177%, 5/12/28<sup>(2)</sup> | &nbsp;&nbsp; 600 | &nbsp;&nbsp; 603 |
| Amentum Holdings LLC (1 month Term SOFR + 2.250%)<br> 6.577%, 9/29/31<sup>(2)</sup> | &nbsp;&nbsp; 1119 | &nbsp;&nbsp; 1117 |
| Ascend Learning LLC (1 month Term SOFR + 3.000%)<br> 7.327%, 12/11/28<sup>(2)</sup> | &nbsp;&nbsp; 795 | &nbsp;&nbsp; 795 |
| BIFM U.S. Finance LLC 2024, Tranche B (1 month Term SOFR + 3.750%)<br> 8.077%, 5/31/28<sup>(2)</sup> | &nbsp;&nbsp; 549 | &nbsp;&nbsp; 551 |
| BrightView Landscapes LLC Tranche B (3 month Term SOFR + 2.000%)<br> 6.280%, 4/20/29<sup>(2)</sup> | &nbsp;&nbsp; 923 | &nbsp;&nbsp; 921 |
| Crisis Prevention Institute, Inc. 2024 (3 month Term SOFR + 4.000%)<br> 8.296%, 4/9/31<sup>(2)</sup> | &nbsp;&nbsp; 353 | &nbsp;&nbsp; 353 |
| DG Investment Intermediate Holdings 2, Inc. First Lien (1 month Term SOFR + 3.614%)<br> 7.941%, 3/31/28<sup>(2)</sup> | &nbsp;&nbsp; 809 | &nbsp;&nbsp; 808 |

---

See Notes to Schedule of Investments

------

#### VIRTUS Newfleet Senior Floating Rate Fund

#### SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

#### June 30, 2025
($ reported in thousands)

---

| | | |
|:---|:---|:---|
|  | **Par Value** | **Value** |
| **Service—continued** | **Service—continued** |  |
| Dun & Bradstreet Corp. (The) Tranche B-2 (1 month Term SOFR + 2.250%)<br> 6.572%, 1/18/29<sup>(2)</sup> | $908 | $907 |
| DXP Enterprises, Inc. 2024 (1 month Term SOFR + 3.750%)<br> 8.077%, 10/11/30<sup>(2)</sup> | &nbsp;&nbsp; 590 | &nbsp;&nbsp; 594 |
| Ensemble RCM LLC Tranche B (3 month Term SOFR + 3.000%)<br> 7.280%, 8/1/29<sup>(2)</sup> | &nbsp;&nbsp; 560 | &nbsp;&nbsp; 562 |
| Fugue Finance B.V. (3 month Term SOFR + 3.250%)<br> 7.571%, 1/9/32<sup>(2)</sup> | &nbsp;&nbsp; 210 | &nbsp;&nbsp; 211 |
| Fugue Finance LLC (3 month Term SOFR + 3.250%)<br> 7.583%, 1/9/32<sup>(2)</sup> | &nbsp;&nbsp; 160 | &nbsp;&nbsp; 161 |
| Garda World Security Corp. (1 month Term SOFR + 3.000%)<br> 7.314%, 2/1/29<sup>(2)</sup> | &nbsp;&nbsp; 1328 | &nbsp;&nbsp; 1329 |
| GFL Environmental Services, Inc. (3 month Term SOFR + 2.500%)<br> 6.824%, 3/3/32<sup>(2)</sup> | &nbsp;&nbsp; 695 | &nbsp;&nbsp; 694 |
| Grant Thornton Advisors LLC 2025 (1 month Term SOFR + 2.750%)<br> 7.077%, 6/2/31<sup>(2)</sup> | &nbsp;&nbsp; 635 | &nbsp;&nbsp; 634 |
| Kuehg Corp. (3 month Term SOFR + 3.250%)<br> 7.546%, 6/12/30<sup>(2)</sup> | &nbsp;&nbsp; 533 | &nbsp;&nbsp; 533 |
| Lernen Bidco Ltd. Tranche B-2 (6 month Term SOFR + 4.000%)<br> 8.307%, 10/27/31<sup>(2)</sup> | &nbsp;&nbsp; 468 | &nbsp;&nbsp; 470 |
| MV Holding GmbH Tranche B (1 month Term SOFR + 2.250%)<br> 6.577%, 3/17/32<sup>(2)</sup> | &nbsp;&nbsp; 620 | &nbsp;&nbsp; 622 |
| NAB Holdings LLC 2025 (3 month Term SOFR + 2.500%)<br> 6.796%, 11/24/28<sup>(2)</sup> | &nbsp;&nbsp; 1274 | &nbsp;&nbsp; 1258 |
| Omnia Partners LLC (3 month Term SOFR + 2.500%)<br> 6.783%, 7/25/30<sup>(2)</sup> | &nbsp;&nbsp; 632 | &nbsp;&nbsp; 633 |
| Pitney Bowes, Inc. Tranche B (1 month Term SOFR + 3.750%)<br> 8.077%, 3/19/32<sup>(2)</sup> | &nbsp;&nbsp; 658 | &nbsp;&nbsp; 656 |
| Prime Security Services Borrower LLC Tranche B-1 (1 month Term SOFR + 2.000%)<br> 6.320%, 10/13/30<sup>(2)</sup> | &nbsp;&nbsp; 1036 | &nbsp;&nbsp; 1036 |
| Sapphire Bidco B.V. Tranche B-4 (3 month Term SOFR + 2.750%)<br> 7.035%, 5/3/28<sup>(2)</sup> | &nbsp;&nbsp; 410 | &nbsp;&nbsp; 410 |
| Sedgwick Claims Management Services, Inc. 2024 (1 month Term SOFR + 3.000%)<br> 7.327%, 7/31/31<sup>(2)</sup> | &nbsp;&nbsp; 732 | &nbsp;&nbsp; 734 |
| Spin Holdco, Inc. (3 month Term SOFR + 4.262%)<br> 8.577%, 3/4/28<sup>(2)</sup> | &nbsp;&nbsp; 805 | &nbsp;&nbsp; 704 |
| St. George's University Scholastic Services LLC (1 month Term SOFR + 2.750%)<br> 7.077%, 2/10/29<sup>(2)</sup> | &nbsp;&nbsp; 593 | &nbsp;&nbsp; 570 |
| Trugreen Ltd. Partnership First Lien (1 month Term SOFR + 4.100%)<br> 8.427%, 11/2/27<sup>(2)</sup> | &nbsp;&nbsp; 530 | &nbsp;&nbsp; 502 |
| WCG Intermediate Corp. Tranche B (1 month Term SOFR + 3.000%)<br> 7.327%, 2/25/32<sup>(2)</sup> | &nbsp;&nbsp; 260 | &nbsp;&nbsp; 257 |

---

---

| | | |
|:---|:---|:---|
|  | **Par Value** | **Value** |
| **Service—continued** | **Service—continued** |  |
| WIN Waste Innovations Holdings, Inc. (1 month Term SOFR + 2.864%)<br> 7.191%, 3/24/28<sup>(2)</sup> | $996 | $985 |
|  |  | &nbsp;&nbsp;&nbsp; 20546 |
| **Transportation - Automotive—2.5%** | **Transportation - Automotive—2.5%** |  |
| Belron Finance U.S. LLC 2031 (3 month Term SOFR + 2.750%)<br> 7.049%, 10/16/31<sup>(2)</sup> | &nbsp;&nbsp; 838 | &nbsp;&nbsp;&nbsp; 841 |
| Clarios Global LP 2024, Tranche B (1 month Term SOFR + 2.500%)<br> 6.827%, 5/6/30<sup>(2)</sup> | &nbsp;&nbsp; 1068 | &nbsp;&nbsp;&nbsp; 1064 |
| First Brands Group LLC 2022 (3 month Term SOFR + 5.262%)<br> 9.541%, 3/30/27<sup>(2)</sup> | &nbsp;&nbsp; 837 | &nbsp;&nbsp;&nbsp; 788 |
| Mavis Tire Express Services Topco Corp. 2025, First Lien (3 month Term SOFR + 3.000%)<br> 7.333%, 5/4/28<sup>(2)</sup> | &nbsp;&nbsp; 559 | &nbsp;&nbsp;&nbsp; 558 |
| PAI Holdco, Inc. Tranche B (3 month Term SOFR + 4.541%)<br> 8.291%, 10/28/27<sup>(2)</sup> | &nbsp;&nbsp; 871 | &nbsp;&nbsp;&nbsp; 667 |
| Wand NewCo 3, Inc. Tranche B-2 (1 month Term SOFR + 2.500%)<br> 6.827%, 1/30/31<sup>(2)</sup> | &nbsp;&nbsp; 708 | &nbsp;&nbsp;&nbsp; 704 |
|  |  | &nbsp;&nbsp;&nbsp; 4622 |
| **Transportation - Land Transportation—0.2%** | **Transportation - Land Transportation—0.2%** |  |
| Herc Holdings, Inc. (1 month Term SOFR + 2.000%)<br> 6.324%, 6/2/32<sup>(2)</sup> | &nbsp;&nbsp; 320 | &nbsp;&nbsp;&nbsp; 321 |
| **Utilities—3.2%** | **Utilities—3.2%** |  |
| Astoria Energy LLC Tranche B<br> 0.000%, 6/16/32<sup>(2)(3)</sup> | &nbsp;&nbsp; 540 | &nbsp;&nbsp;&nbsp; 540 |
| Calpine Corp. Tranche B-10 (1 month Term SOFR + 1.750%)<br> 6.077%, 1/31/31<sup>(2)</sup> | &nbsp;&nbsp; 915 | &nbsp;&nbsp;&nbsp; 914 |
| Cornerstone Generation LLC Tranche B<br> 0.000%, 10/28/31<sup>(2)(3)</sup> | &nbsp;&nbsp; 745 | &nbsp;&nbsp;&nbsp; 748 |
| CPV Fairview LLC Tranche B (1 month Term SOFR + 3.000%)<br> 7.327%, 8/14/31<sup>(2)</sup> | &nbsp;&nbsp; 258 | &nbsp;&nbsp;&nbsp; 259 |
| Lightning Power LLC Tranche B (3 month Term SOFR + 2.250%)<br> 6.546%, 8/18/31<sup>(2)</sup> | &nbsp;&nbsp; 696 | &nbsp;&nbsp;&nbsp; 697 |
| Lightstone HoldCo LLC |  |  |
| &nbsp;&nbsp;&nbsp;Tranche B (3 month Term SOFR + 5.750%)<br> 10.030%, 1/29/27<sup>(2)</sup> | &nbsp;&nbsp; 787 | &nbsp;&nbsp;&nbsp; 786 |
| &nbsp;&nbsp;&nbsp;Tranche C (3 month Term SOFR + 5.750%)<br> 10.030%, 1/29/27<sup>(2)</sup> | &nbsp;&nbsp; 45 | &nbsp;&nbsp;&nbsp; 45 |
| WEC U.S. Holdings Ltd. (1 month Term SOFR + 2.250%)<br> 6.574%, 1/27/31<sup>(2)</sup> | &nbsp;&nbsp; 1235 | &nbsp;&nbsp;&nbsp; 1235 |
| Whitewater Matterhorn Holdings LLC (3 month Term SOFR + 2.250%)<br> 6.568%, 6/16/32<sup>(2)</sup> | &nbsp;&nbsp; 600 | &nbsp;&nbsp;&nbsp; 599 |
|  |  | &nbsp;&nbsp;&nbsp; 5823 |
| **Total Leveraged Loans<br> (Identified Cost $167,832)** | **Total Leveraged Loans<br> (Identified Cost $167,832)** | &nbsp;&nbsp;&nbsp;&nbsp;**166549** |

---

See Notes to Schedule of Investments

------

#### VIRTUS Newfleet Senior Floating Rate Fund

#### SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

#### June 30, 2025
($ reported in thousands)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **Common Stocks—0.1%** | **Common Stocks—0.1%** | **Common Stocks—0.1%** |
| **Consumer Discretionary—0.0%** | **Consumer Discretionary—0.0%** |  |
| ESC NMG Parent LLC<sup>(4)(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3033 | $— |
| West Marine<sup>(4)(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1450 | &nbsp;&nbsp;&nbsp; —<sup>(7)</sup> |
|  |  | &nbsp;&nbsp;&nbsp; —<sup>(7)</sup> |
| **Health Care—0.1%** | **Health Care—0.1%** |  |
| Envision Healthcare Corp.<sup>(6)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6407 | &nbsp;&nbsp;&nbsp; 102 |
| **Total Common Stocks<br> (Identified Cost $57)** | **Total Common Stocks<br> (Identified Cost $57)** | &nbsp;&nbsp;&nbsp;&nbsp; **102** |
| **Exchange-Traded Funds—5.1%** | **Exchange-Traded Funds—5.1%** | **Exchange-Traded Funds—5.1%** |
| Invesco Senior Loan ETF | &nbsp;&nbsp;&nbsp;&nbsp;77095 | &nbsp;&nbsp;&nbsp; 1613 |
| iShares Floating Rate Bond ETF | &nbsp;&nbsp;&nbsp;&nbsp;22500 | &nbsp;&nbsp;&nbsp; 1148 |
| iShares iBoxx High Yield Corporate Bond ETF | &nbsp;&nbsp;&nbsp;&nbsp;11520 | &nbsp;&nbsp;&nbsp; 929 |
| iShares iBoxx Investment Grade Corporate Bond ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4195 | &nbsp;&nbsp;&nbsp; 460 |
| Janus Henderson AAA CLO ETF | &nbsp;&nbsp;&nbsp;&nbsp;22510 | &nbsp;&nbsp;&nbsp; 1142 |
| PGIM AAA CLO ETF | &nbsp;&nbsp;&nbsp;&nbsp;22155 | &nbsp;&nbsp;&nbsp; 1140 |
| SPDR Blackstone Senior Loan ETF | &nbsp;&nbsp;&nbsp;&nbsp;26725 | &nbsp;&nbsp;&nbsp; 1112 |
| SPDR Bloomberg High Yield Bond ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9560 | &nbsp;&nbsp;&nbsp; 930 |
| SPDR Bloomberg Short Term High Yield Bond ETF | &nbsp;&nbsp;&nbsp;&nbsp;35960 | &nbsp;&nbsp;&nbsp; 916 |
| **Total Exchange-Traded Funds<br> (Identified Cost $9,252)** | **Total Exchange-Traded Funds<br> (Identified Cost $9,252)** | &nbsp;&nbsp;&nbsp;&nbsp; **9390** |
| **Total Long-Term Investments—100.0%<br> (Identified Cost $185,200)** | **Total Long-Term Investments—100.0%<br> (Identified Cost $185,200)** | &nbsp;&nbsp;&nbsp;&nbsp;**184308** |
| **Short-Term Investment—1.7%** | **Short-Term Investment—1.7%** | **Short-Term Investment—1.7%** |
| **Money Market Mutual Fund—1.7%** | **Money Market Mutual Fund—1.7%** | **Money Market Mutual Fund—1.7%** |
| Dreyfus Government Cash Management Fund - Institutional Shares (seven-day effective yield 4.209%)<sup>(8)</sup> | 3061262 | &nbsp;&nbsp;&nbsp; 3061 |
| **Total Short-Term Investment<br> (Identified Cost $3,061)** | **Total Short-Term Investment<br> (Identified Cost $3,061)** | &nbsp;&nbsp;&nbsp;&nbsp; **3061** |
| **TOTAL INVESTMENTS—101.7%<br> (Identified Cost $188,261)** | **TOTAL INVESTMENTS—101.7%<br> (Identified Cost $188,261)** | &nbsp;&nbsp;**$187369** |
| Other assets and liabilities, net—(1.7)% | Other assets and liabilities, net—(1.7)% | &nbsp;&nbsp;&nbsp;&nbsp; (3042) |
| **NET ASSETS—100.0%** | **NET ASSETS—100.0%** | &nbsp;&nbsp;**$184327** |

---

---

| | |
|:---|:---|
| **Abbreviations:** | **Abbreviations:** |
| CLO | Collateralized Loan Obligation |
| ETF | Exchange-Traded Fund |
| LLC | Limited Liability Company |
| LLLP | Limited Liability Limited Partnership |
| LLP | Limited Liability Partnership |
| LP | Limited Partnership |
| plc | Public Limited Company |
| S.a.r.l. | Société à responsabilité limitée |
| SOFR | Secured Overnight Financing Rate |
| SPDR | S&P Depositary Receipt |

---

---

| | |
|:---|:---|
| **Footnote Legend:** | **Footnote Legend:** |
| <sup>(1)</sup> | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At June 30, 2025, these securities amounted to a value of $8,267 or 4.5% of net assets. |
| <sup>(2)</sup> | Variable rate security. Rate disclosed is as of June 30, 2025. Information in parenthesis represents benchmark and reference rate for each security. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions, or, for mortgage-backed securities, are impacted by the individual mortgages which are paying off over time. These securities do not indicate a reference rate and spread in their descriptions. |
| <sup>(3)</sup> | This loan will settle after June 30, 2025, at which time the interest rate, calculated on the base lending rate and the agreed upon spread on trade date, will be reflected. |
| <sup>(4)</sup> | The value of this security was determined using significant unobservable inputs and is reported as a Level 3 security in the Fair Value Hierarchy table located after the Schedule of Investments. |
| <sup>(5)</sup> | Security in default; no interest payments are being received. |
| <sup>(6)</sup> | Non-income producing. |
| <sup>(7)</sup> | Amount is less than $500 (not in thousands). |
| <sup>(8)</sup> | Shares of this fund are publicly offered, and its prospectus and annual report are publicly available. |

---

---

| | |
|:---|:---|
| **Country Weightings<sup>†</sup>** | **Country Weightings<sup>†</sup>** |
| United States | &nbsp;&nbsp;&nbsp;91% |
| Canada | &nbsp;&nbsp;&nbsp;&nbsp;4 |
| Netherlands | &nbsp;&nbsp;&nbsp;&nbsp;2 |
| France | &nbsp;&nbsp;&nbsp;&nbsp;1 |
| Luxembourg | &nbsp;&nbsp;&nbsp;&nbsp;1 |
| Cayman Islands | &nbsp;&nbsp;&nbsp;&nbsp;1 |
| Total | 100% |
| <sup>†</sup> % of total investments as of June 30, 2025. | <sup>†</sup> % of total investments as of June 30, 2025. |

---

See Notes to Schedule of Investments

------

#### VIRTUS Newfleet Senior Floating Rate Fund

#### SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

#### June 30, 2025
($ reported in thousands)

As of June 30, 2025, the Fund had the following unfunded loan commitments:

---

| | | | |
|:---|:---|:---|:---|
| **Borrower** | **Par Value** | **Commitment** | **Value** |
| DG Investment Intermediate Holdings 2, Inc. (1 month Term SOFR + 3.750%), 7/02/32 | &nbsp;&nbsp;$34 | &nbsp;&nbsp;$34 | &nbsp;&nbsp;$34&nbsp;&nbsp;&nbsp;$—<sup>(1)</sup> |
| Hanger, Inc., 10/23/31 | &nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp;&nbsp;&nbsp;64 | &nbsp;&nbsp;&nbsp;&nbsp;65&nbsp;&nbsp;&nbsp;&nbsp;—<sup>(1)</sup> |
| Kaman Corp. (3 month Term SOFR + 2.750%), 2/26/32 | &nbsp;&nbsp;&nbsp;&nbsp;73 | &nbsp;&nbsp;&nbsp;&nbsp;73 | &nbsp;&nbsp;&nbsp;&nbsp;72&nbsp;&nbsp;&nbsp;&nbsp;—<sup>(1)</sup> |
| USALCO LLC, 9/30/31 | &nbsp;&nbsp;&nbsp;&nbsp;56 | &nbsp;&nbsp;&nbsp;&nbsp;57 | &nbsp;&nbsp;&nbsp;&nbsp;57&nbsp;&nbsp;&nbsp;&nbsp;—<sup>(1)</sup> |
| Total | $228 | $228 | $228 &nbsp;&nbsp;&nbsp;$—<sup>(1)</sup> |

---

<sup>(1)</sup> Amount is less than $500 (not in thousands).

The following table summarizes the value of the Fund's investments as of June 30, 2025, based on the inputs used to value them (See Security Valuation Note 1 in the Notes to Schedule of Investments):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total<br> Value at<br> June 30, 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Level 1<br> Quoted Prices | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Level 2<br> Significant<br> Observable<br> Inputs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Level 3<br> Significant<br> Unobservable<br> Inputs |
| Assets: |  |  |  |  |
| Debt Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Corporate Bonds and Notes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8267 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8267 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— |
| &nbsp;&nbsp;&nbsp;Leveraged Loans | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166549 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166549 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;—<sup>(1)</sup> |
| Equity Securities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;—<sup>(1)(2)</sup> |
| Exchange-Traded Funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Money Market Mutual Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3061 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3061 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Unfunded Loan Commitments<sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Liabilities: |  |  |  |  |
| Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Unfunded Loan Commitment<sup>\*</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Total Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$187369 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$12451 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$174918 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$—<sup>(2)</sup> |

---

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

<sup>(2)</sup> Amount is less than $500 (not in thousands).

<sup>\*</sup> Unfunded Loan Commitments are valued at the net unrealized appreciation (depreciation).

Securities held by the Fund with an end of period value of $72 were transferred from Level 2 to Level 3 due to a decrease in trading activities at period end.

Some of the Fund's investments that were categorized as Level 3 may have been valued utilizing third party pricing information without adjustment. If applicable, such valuations are based on unobservable inputs. A significant change in third party information could result in a significantly lower or higher value of Level 3 investments.

Management has determined that the amount of Level 3 securities compared to total net assets is not material; therefore, the roll-forward of Level 3 securities and assumptions are not shown for the period ended June 30, 2025.

See Notes to Schedule of Investments

------

#### VIRTUS NEWFLEET SENIOR FLOATING RATE FUND

#### NOTES TO SCHEDULE OF INVESTMENTS (Unaudited)

#### June 30, 2025

#### Note 1. Security Valuation
The Fund's Board of Trustees has designated the investment adviser as the valuation designee to perform fair valuations pursuant to Rule 2a-5 under the Investment Company Act of 1940. The Fund utilizes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The Fund's policy is to recognize transfers into or out of Level 3 at the end of the reporting period.

• Level 1 – quoted prices in active markets for identical securities (security types generally include listed equities).

• Level 2 – prices determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).

• Level 3 – prices determined using significant unobservable inputs (including the investment adviser's Valuation Committee's own assumptions in determining the
fair value of investments).

A description of the valuation techniques applied to the Fund's major categories of assets and liabilities measured at fair value on a recurring basis is as follows:

Equity securities are valued at the official closing price (typically last sale) on the exchange on which the securities are primarily traded or, if no closing price is available, at the last bid price and are categorized as Level 1 in the hierarchy. Illiquid, restricted equity securities and illiquid private placements are internally fair valued by the investment adviser's Valuation Committee, and are generally categorized as Level 3 in the hierarchy.

Certain non-U.S. securities may be fair valued in cases where closing prices are not readily available or are deemed not reflective of readily available market prices. For example, significant events (such as movement in the U.S. securities market, or other regional and local developments) may occur between the time that non-U.S. markets close (where the security is principally traded) and the time that the Fund calculates its net asset value ("NAV") at the close of regular trading on the New York Stock Exchange ("NYSE") (generally 4 p.m. Eastern time) that may impact the value of securities traded in these non-U.S. markets. In such cases, the Fund fair values non-U.S. securities using an independent pricing service which considers the correlation of the trading patterns of the non-U.S. security to the intraday trading in the U.S. markets for investments such as American Depositary Receipts, financial futures, Exchange-Traded Funds ("ETFs"), and certain indexes, as well as prices for similar securities. Such fair valuations are categorized as Level 2 in the hierarchy. Because the frequency of significant events is not predictable, fair valuation of certain non-U.S. common stocks may occur on a frequent basis.

Debt instruments, including convertible bonds, restricted securities, and leveraged loans are valued based on either evaluated or composite quotations received from independent pricing services or from dealers who make markets in such securities. For most bond types, the pricing service utilizes matrix pricing that considers one or more of the following factors: yield or price of bonds of comparable quality, coupon, maturity, current cash flows, type, activity of the underlying equities, and current day trade information, as well as dealer supplied prices. These valuations are generally categorized as Level 2 in the hierarchy. Structured debt instruments, such as mortgage-backed and asset-backed securities may also incorporate collateral analysis and utilize cash flow models for valuation and are generally categorized as Level 2 in the hierarchy. Pricing services do not provide pricing for all securities and therefore indicative bids from dealers are utilized which are based on pricing models used by market makers in the security and are generally categorized as Level 2 in the hierarchy. Debt instruments that are internally fair valued by the investment adviser's Valuation Committee are generally categorized as Level 3 in the hierarchy.

Listed derivatives, such as options, that are actively traded are valued at the last posted settlement price from the exchange where they are principally traded and are categorized as Level 1 in the hierarchy. Over-the-counter derivative contracts, which include forward currency contracts and equity-linked instruments, do not require material subjectivity as pricing inputs are observed from actively quoted markets and are categorized as Level 2 in the hierarchy.

Investments in open-end mutual funds are valued at NAV. Investments in closed-end funds and ETFs are valued as of the close of regular trading on the NYSE each business day. Each is categorized as Level 1 in the hierarchy.

A summary of the inputs used to value the Fund's net assets by each major security type is disclosed at the end of the Schedule of Investments for the Fund. The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

For additional information about significant accounting policies, refer to the Fund's most recent semi or annual financial statements.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Virtus Opportunities Trust

- **b. Investment Company Act file number:** 811-07455

- **c. CIK number of Registrant:** 0001005020

- **d. LEI of Registrant:** 549300O4C4QVD88M4N75

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

  - **Street Address 1:** 101 Munson Street

  - **City:** Greenfield

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 01301-9668

  - **Telephone number:** 800-243-1574

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

- **a. Name of Series:** Virtus Newfleet Senior Floating Rate Fund

- **b. EDGAR series identifier (if any):** S000020772

- **c. LEI of Series:** 549300LSL433PMNG0O35

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

- **a. Date of fiscal year-end:** 2025-09-30

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $196176071.33

**Total Liabilities:** $12382453.91

**Net Assets:** $183793617.42

**Cash Not Reported:** $6763567.23

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** -298.07214470 | **10-Year:** -1148.00873700 | **30-Year:** 0.00000000

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

- **3-Month:** -3.85692417 | **1-Year:** -79.45733407 | **5-Year:** -26785.49011000 | **10-Year:** -26653.64491000 | **30-Year:** -371.06953280

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000058006 | -0.09%               | 1.53%                | 0.77%                |
| Class ID C000058008 | 0.04%                | 1.44%                | 0.79%                |
| Class ID C000176710 | 0.05%                | 1.45%                | 0.80%                |
| Class ID C000058007 | -0.04%               | 1.35%                | 0.71%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-815549.27              | $-257962.60                                |
| Month 2  | $-573977.23              | $2137852.22                                |
| Month 3  | $10832.57                | $445729.60                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| GRIFOLS SA                                                                  | Grifols SA                                                          | CUSIP: 39843UAA0<br>LEI: 959800HSSNXWRKBK4N60 | Long             | DBT              | CORP              | ES        |    200000 | PA      | $192265.40    | 0.10%             | 2028-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| AthenaHealth Group Inc                                                      | ATHENAHEALTH GROUP INC                                              | CUSIP: 04686RAB9<br>LEI: 254900AA3KZN4Q7A5Z33 | Long             | LON              | CORP              | US        |    850000 | PA      | $848674.00    | 0.46%             | 2029-02-15      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| Grifols Worldwide Operations USA Inc                                        | Grifols Worldwide Operations USA Inc                                | CUSIP: 39843PAG8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1295000 | PA      | $1290325.05   | 0.70%             | 2027-11-15      | Floating      | 6.48%                 | No            |                  2 | On Loan: No      |
| Garda World Security Corporation                                            | GARDA WORLD SECURITY                                                | CUSIP: 000000000<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | LON              | CORP              | CA        |   1328153 | PA      | $1328883.49   | 0.72%             | 2029-02-01      | Floating      | 7.31%                 | No            |                  2 | On Loan: No      |
| PAI Holdco Inc                                                              | PAI Holdco Inc                                                      | CUSIP: 69315JAG8<br>LEI: 2549001NJ55NUV372F56 | Long             | LON              | CORP              | US        |    871234 | PA      | $666493.69    | 0.36%             | 2027-10-28      | Floating      | 8.29%                 | No            |                  2 | On Loan: No      |
| Numericable U.S. LLC                                                        | Altice France SA/France                                             | CUSIP: 67053NAK0<br>LEI: 5493001ZMCICV4N02J21 | Long             | LON              | CORP              | FR        |   1299610 | PA      | $1126762.18   | 0.61%             | 2025-07-31      | Floating      | 9.25%                 | No            |                  2 | On Loan: No      |
| Aspire Bakeries Holdings LLC                                                | ASPIRE BAKERIES HOLDINGS LLC                                        | CUSIP: 000000000<br>LEI: 549300MWN7R72KAKOD18 | Long             | LON              | CORP              | US        |    321648 | PA      | $322149.79    | 0.18%             | 2030-12-23      | Floating      | 8.58%                 | No            |                  2 | On Loan: No      |
| APPLIED SYSTEMS INC                                                         | APPLIED SYSTEMS INC                                                 | CUSIP: 03827FBD2<br>LEI: 549300NSKGF0SY5SWQ62 | Long             | LON              | CORP              | US        |   1774931 | PA      | $1781587.21   | 0.97%             | 2031-02-24      | Floating      | 7.08%                 | No            |                  2 | On Loan: No      |
| Team Health Holdings, Inc.                                                  | Team Health Holdings Inc                                            | CUSIP: 87817JAG3<br>LEI: 549300PVTQ4UDTTMQT11 | Long             | LON              | CORP              | US        |    386808 | PA      | $384328.80    | 0.21%             | 2027-03-02      | Floating      | 9.53%                 | No            |                  2 | On Loan: No      |
| Flutter Entertainment Public Limited Company                                | FLUTTER FINANCING BV                                                | CUSIP: 000000000<br>LEI: 635400VFWPBIKJK6GN11 | Long             | LON              | CORP              | NL        |    660000 | PA      | $659175.00    | 0.36%             | 2032-06-04      | Floating      | 6.30%                 | No            |                  2 | On Loan: No      |
| Medline Borrower LP                                                         | MEDLINE BORROWER LP                                                 | CUSIP: 58503UAF0<br>LEI: 254900QT3R363TVK6F09 | Long             | LON              | CORP              | US        |   1250879 | PA      | $1251491.76   | 0.68%             | 2028-10-23      | Floating      | 6.58%                 | No            |                  2 | On Loan: No      |
| WCG Intermediate Corp                                                       | WCG INTERMEDIATE CORP                                               | CUSIP: 23343FAE4<br>LEI: 254900CEZYHAWVXDTS47 | Long             | LON              | CORP              | US        |    260000 | PA      | $256828.00    | 0.14%             | 2032-02-25      | Floating      | 7.33%                 | No            |                  2 | On Loan: No      |
| One Call Corporation                                                        | One Call Corp                                                       | CUSIP: 68235XAB7<br>LEI: 549300WUCCV86ZQHG041 | Long             | LON              | CORP              | US        |    870204 | PA      | $864399.56    | 0.47%             | 2027-04-22      | Floating      | 10.04%                | No            |                  2 | On Loan: No      |
| Acrisure LLC                                                                | ACRISURE LLC                                                        | CUSIP: 00488PAV7<br>LEI: 549300R0Z1Q47XRTGO22 | Long             | LON              | CORP              | US        |    316810 | PA      | $315678.97    | 0.17%             | 2030-11-06      | Floating      | 7.33%                 | No            |                  2 | On Loan: No      |
| Arsenal Aic Parent LLC                                                      | ARSENAL AIC PARENT LLC                                              | CUSIP: 04287KAG6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    748494 | PA      | $746810.08    | 0.41%             | 2030-08-18      | Floating      | 7.08%                 | No            |                  2 | On Loan: No      |
| PEX Holdings LLC                                                            | PEX HOLDINGS LLC                                                    | CUSIP: 69381MAB1<br>LEI: 2138006XMWHEBFQ55Z05 | Long             | LON              | CORP              | US        |    728175 | PA      | $728175.00    | 0.40%             | 2031-11-20      | Floating      | 6.97%                 | No            |                  2 | On Loan: No      |
| Quikrete Holdings Inc                                                       | QUIKRETE HOLDING 01/30/32                                           | CUSIP: 74839XAL3<br>LEI: 5493007KIN86DIZWZT22 | Long             | LON              | CORP              | US        |    508725 | PA      | $507834.73    | 0.28%             | 2032-02-10      | Floating      | 6.58%                 | No            |                  2 | On Loan: No      |
| Gray Television Inc                                                         | Gray Television Inc                                                 | CUSIP: 389376AZ7<br>LEI: 529900TM5726KDN7UU35 | Long             | LON              | CORP              | US        |   1069964 | PA      | $1033489.03   | 0.56%             | 2028-12-01      | Floating      | 7.44%                 | No            |                  2 | On Loan: No      |
| Phoenix Guarantor Inc                                                       | PHOENIX GUARANTOR INC                                               | CUSIP: 71913BAK8<br>LEI: 254900JIOIDL3GSUFE55 | Long             | LON              | CORP              | US        |    882948 | PA      | $885252.80    | 0.48%             | 2031-02-21      | Floating      | 6.83%                 | No            |                  2 | On Loan: No      |
| Project Ruby Ultimate Parent Corp                                           | PROJECT RUBY ULTIMATE PARENT CORP                                   | CUSIP: 74339UAZ3<br>LEI: 549300UGGIEE7YT1C741 | Long             | LON              | CORP              | US        |    930508 | PA      | $931280.36    | 0.51%             | 2028-03-10      | Floating      | 7.44%                 | No            |                  2 | On Loan: No      |
| LUMMUS TECHNOLOGY HOLDINGS V LLC                                            | Lummus Technolog 12/31/29                                           | CUSIP: 45232UAG3<br>LEI: 549300K1Y0YC1YC1H809 | Long             | LON              | CORP              | US        |   1002723 | PA      | $1004998.93   | 0.55%             | 2029-12-31      | Floating      | 7.33%                 | No            |                  2 | On Loan: No      |
| iShares Floating Rate Bond ETF                                              | iShares Floating Rate Bond ETF                                      | CUSIP: 46429B655<br>LEI: 549300G2T0MQ0NCEG317 | Long             | EC               | RF                | US        |     22500 | NS      | $1147950.00   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| DG Investment Intermediate Holdings 2 Inc                                   | DG Investment Intermediate Holdings 2 Inc                           | CUSIP: 23344MAC2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    809088 | PA      | $808271.22    | 0.44%             | 2028-03-31      | Floating      | 7.94%                 | No            |                  2 | On Loan: No      |
| JH NORTH AMERICA HOLDING                                                    | JH North America Holdings Inc                                       | CUSIP: 46593WAA3<br>LEI: 254900A6FXA0D81TL967 | Long             | DBT              | CORP              | US        |    225000 | PA      | $226964.70    | 0.12%             | 2031-01-31      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Whitewater DBR Holdco LLC                                                   | WHITEWATER DBR HOLDCO LL                                            | CUSIP: 96616PAD0<br>LEI: 21380025GXMNBTSJP816 | Long             | LON              | CORP              | US        |    620320 | PA      | $620320.32    | 0.34%             | 2031-03-03      | Floating      | 6.56%                 | No            |                  2 | On Loan: No      |
| TRIVIUM PACKAGING FIN                                                       | Trivium Packaging Finance BV                                        | CUSIP: 89686QAD8<br>LEI: 724500GMZWW3PVYET548 | Long             | DBT              | CORP              | NL        |    225000 | PA      | $237934.58    | 0.13%             | 2030-07-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Boost Newco Borrower LLC                                                    | BOOST NEWCO BORROWER LLC                                            | CUSIP: 92943EAG1<br>LEI: 254900S8RE1OL7TTCU64 | Long             | LON              | CORP              | US        |    577104 | PA      | $578304.00    | 0.31%             | 2031-01-31      | Floating      | 6.30%                 | No            |                  2 | On Loan: No      |
| BROADSTREET PARTNERS INC                                                    | BroadStreet Partners Inc                                            | CUSIP: 11135RAA3<br>LEI: 549300BS9N54G8DD0R75 | Long             | DBT              | CORP              | US        |    300000 | PA      | $296477.85    | 0.16%             | 2029-04-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CSC Holdings LLC                                                            | CSC Holdings LLC                                                    | CUSIP: 64072UAM4<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | LON              | CORP              | US        |   1556169 | PA      | $1532841.69   | 0.83%             | 2028-01-18      | Floating      | 8.81%                 | No            |                  2 | On Loan: No      |
| South Field Energy LLC                                                      | SOUTH FIELD ENERGY LLC                                              | CUSIP: 000000000<br>LEI: 549300M3RBW5ZIH20760 | Long             | LON              | CORP              | US        |    189843 | PA      | $190555.15    | 0.10%             | 2031-08-29      | Floating      | 7.55%                 | No            |                  2 | On Loan: No      |
| Delivery Hero SE                                                            | DELIVERY HERO FINCO LLC                                             | CUSIP: 000000000<br>LEI: 529900KR9IO53KSCSQ67 | Long             | LON              | CORP              | US        |    664717 | PA      | $669290.42    | 0.36%             | 2029-12-12      | Floating      | 9.30%                 | No            |                  2 | On Loan: No      |
| ROCKET SOFTWARE INC                                                         | Rocket Software Inc                                                 | CUSIP: 77314EAB4<br>LEI: 549300PVG26ISP5X1556 | Long             | DBT              | CORP              | US        |     75000 | PA      | $77310.38     | 0.04%             | 2028-11-28      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| ICAHN ENTERPRISES/FIN                                                       | Icahn Enterprises LP / Icahn Enterprises Finance Corp               | CUSIP: 451102CK1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $99002.41     | 0.05%             | 2029-11-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Mavis Tire Express Services Topco Corp                                      | MAVIS TIRE EXPRESS SERVICES TOPCO CORP                              | CUSIP: 57777YAG1<br>LEI: 254900NVDM4GTLBL9E56 | Long             | LON              | CORP              | US        |    559062 | PA      | $558441.94    | 0.30%             | 2028-05-04      | Floating      | 7.33%                 | No            |                  2 | On Loan: No      |
| Terrier Media Buyer Inc                                                     | CMG MEDIA CORP                                                      | CUSIP: 88145LAF1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1240977 | PA      | $1199268.07   | 0.65%             | 2029-06-18      | Floating      | 7.90%                 | No            |                  2 | On Loan: No      |
| Broadstreet Partners Inc                                                    | BROADSTREET PARTNERS INC                                            | CUSIP: 11132VAY5<br>LEI: 549300BS9N54G8DD0R75 | Long             | LON              | CORP              | US        |    550231 | PA      | $550770.44    | 0.30%             | 2031-06-13      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| Windsor Holdings III LLC                                                    | WINDSOR HOLDINGS III LLC                                            | CUSIP: 97360BAH8<br>LEI: 254900IXUJZ9H146T437 | Long             | LON              | CORP              | US        |    876722 | PA      | $876502.96    | 0.48%             | 2030-08-01      | Floating      | 7.07%                 | No            |                  2 | On Loan: No      |
| GIP Pilot Acquisition Partners LP                                           | GIP PILOT ACQUISITION PA                                            | CUSIP: 31773HAE2<br>LEI: 254900NQOAOPPA12X060 | Long             | LON              | CORP              | US        |    282505 | PA      | $282739.52    | 0.15%             | 2030-10-04      | Floating      | 6.28%                 | No            |                  2 | On Loan: No      |
| Oryx Midstream Services Permian Basin LLC                                   | ORYX MIDSTREAM SERVICES PERMIAN BASIN LLC                           | CUSIP: 68764JAJ0<br>LEI: 254900YYHRDANYFAHC43 | Long             | LON              | CORP              | US        |    865876 | PA      | $865122.53    | 0.47%             | 2028-10-05      | Floating      | 6.57%                 | No            |                  2 | On Loan: No      |
| PointClickCare Technologies Inc                                             | POINTCLICKCARE TECHNOLOGIES INC                                     | CUSIP: 000000000<br>LEI: 5493001Z0LHHBZLVDX36 | Long             | LON              | CORP              | CA        |    283575 | PA      | $284462.59    | 0.15%             | 2031-11-03      | Floating      | 7.42%                 | No            |                  2 | On Loan: No      |
| Bausch & Lomb Corporation                                                   | BAUSCH + LOMB CORP                                                  | CUSIP: 000000000<br>LEI: 549300NY6OZM39SO6475 | Long             | LON              | CORP              | CA        |    378262 | PA      | $377789.67    | 0.21%             | 2028-09-29      | Floating      | 8.33%                 | No            |                  2 | On Loan: No      |
| GFL Environmental Services Inc                                              | GFL ENVIRONMENTAL SERVIC                                            | CUSIP: 36257SAB8<br>LEI: 254900PGDQWC19PRP053 | Long             | LON              | CORP              | US        |    695000 | PA      | $694423.15    | 0.38%             | 2032-03-03      | Floating      | 6.82%                 | No            |                  2 | On Loan: No      |
| Trident TPI Holdings Inc                                                    | TRIDENT TPI HOLDINGS INC                                            | CUSIP: 00216EAL3<br>LEI: 549300TPLK304J3RNC85 | Long             | LON              | CORP              | US        |    764254 | PA      | $749832.62    | 0.41%             | 2028-09-15      | Floating      | 8.05%                 | No            |                  2 | On Loan: No      |
| USALCO LLC                                                                  | USALCO LLC                                                          | CUSIP: 91732NAL7<br>LEI: 5493006WBYB0CYPCSG20 | Long             | LON              | CORP              | US        |    544957 | PA      | $547376.78    | 0.30%             | 2031-09-30      | Floating      | 8.33%                 | No            |                  2 | On Loan: No      |
| Radiology Partners Inc                                                      | RADIOLOGY PARTNERS INC                                              | CUSIP: 75041EAN2<br>LEI: 549300SFTAG2177WUZ08 | Long             | LON              | CORP              | US        |    530000 | PA      | $525362.50    | 0.29%             | 2032-06-30      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| Gainwell Acquisition Corp                                                   | Gainwell Acquisition Corp                                           | CUSIP: 59909TAC8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    741421 | PA      | $713061.28    | 0.39%             | 2027-10-01      | Floating      | 8.40%                 | No            |                  2 | On Loan: No      |
| Petco Health and Wellness Company Inc                                       | Petco Health & Wellness Co Inc                                      | CUSIP: 71601HAB2<br>LEI: 2549007TYGV6RVSE9M61 | Long             | LON              | CORP              | US        |    840000 | PA      | $771976.80    | 0.42%             | 2028-03-03      | Floating      | 7.81%                 | No            |                  2 | On Loan: No      |
| Pluto Acquisition I Inc                                                     | PLUTO ACQUISITION I INC                                             | CUSIP: 72941DAK8<br>LEI: 254900MOXD90LKQ6AY47 | Long             | LON              | CORP              | US        |    624244 | PA      | $543092.05    | 0.30%             | 2028-09-20      | Floating      | 8.30%                 | No            |                  2 | On Loan: No      |
| Madison Safety & Flow LLC                                                   | MADISON SAFETY & FLOW                                               | CUSIP: 55822DAM3<br>LEI: 5493007D2J7BBIFYBY65 | Long             | LON              | CORP              | US        |    550838 | PA      | $551526.05    | 0.30%             | 2031-09-26      | Floating      | 7.08%                 | No            |                  2 | On Loan: No      |
| Amentum Holdings LLC                                                        | AMAZON HOLDCO INC                                                   | CUSIP: 02351XAB4<br>LEI: 2549009FJIBLW40CU216 | Long             | LON              | CORP              | US        |   1122227 | PA      | $1119421.49   | 0.61%             | 2031-09-29      | Floating      | 6.58%                 | No            |                  2 | On Loan: No      |
| Potomac Energy Center, LLC                                                  | POTOMAC ENERGY CENTER LLC                                           | CUSIP: 000000000<br>LEI: 549300BHYFK6M9HVNA29 | Long             | LON              | CORP              | US        |    395000 | PA      | $394012.50    | 0.21%             | 2032-03-14      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| AAL Delaware Holdco Inc                                                     | AAL DELAWARE HOLDCO INC                                             | CUSIP: 00036YAD5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    173690 | PA      | $173581.99    | 0.09%             | 2031-07-30      | Floating      | 7.08%                 | No            |                  2 | On Loan: No      |
| Lernen Bidco Limited                                                        | LERNEN US FINCO LLC                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    467653 | PA      | $470379.36    | 0.26%             | 2031-10-27      | Floating      | 8.29%                 | No            |                  2 | On Loan: No      |
| Citadel Securities LP                                                       | CITADEL SECURITIES LP                                               | CUSIP: 17288YAN2<br>LEI: 549300NV5RXBUS3X7L47 | Long             | LON              | CORP              | US        |    632817 | PA      | $635114.56    | 0.35%             | 2031-10-31      | Floating      | 6.33%                 | No            |                  2 | On Loan: No      |
| Scientific Games Holdings LP                                                | SCIENTIFIC GAMES HOLDINGS LP                                        | CUSIP: 80875CAE7<br>LEI: 549300W5GPFXXB6TQ330 | Long             | LON              | CORP              | US        |    865574 | PA      | $864439.72    | 0.47%             | 2029-04-04      | Floating      | 7.28%                 | No            |                  2 | On Loan: No      |
| IVC Acquisition Ltd                                                         | VETSTRATEGY CANADA HOLDINGS INC                                     | CUSIP: 000000000<br>LEI: 254900WZMD2JOGND1Z32 | Long             | LON              | CORP              | CA        |    854715 | PA      | $858724.09    | 0.47%             | 2028-12-12      | Floating      | 8.05%                 | No            |                  2 | On Loan: No      |
| Icon Parent I Inc                                                           | ICON PARENT INC                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    315000 | PA      | $315258.30    | 0.17%             | 2031-11-13      | Floating      | 7.21%                 | No            |                  2 | On Loan: No      |
| Filtration Group Corporation                                                | FILTRATION GROUP CORP                                               | CUSIP: 31732FAV8<br>LEI: 549300ZA0D9WN5ECE978 | Long             | LON              | CORP              | US        |    804622 | PA      | $807382.36    | 0.44%             | 2028-10-21      | Floating      | 7.33%                 | No            |                  2 | On Loan: No      |
| Univision Communications Inc                                                | UNIVISION COMMUNICATIONS INC                                        | CUSIP: 914908BG2<br>LEI: 549300YQDE2JSGTL8V47 | Long             | LON              | CORP              | US        |   1223171 | PA      | $1196664.92   | 0.65%             | 2029-01-31      | Floating      | 7.94%                 | No            |                  2 | On Loan: No      |
| KRAKEN OIL & GAS PARTNER                                                    | Kraken Oil & Gas Partners LLC                                       | CUSIP: 50076PAA6<br>LEI: 549300DR5HSL4YAU3X12 | Long             | DBT              | CORP              | US        |    220000 | PA      | $216133.70    | 0.12%             | 2029-08-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| Hamilton Projects Acquiror LLC                                              | HAMILTON PROJECTS ACQUIR                                            | CUSIP: 40444KAD7<br>LEI: 5493005K6XILIQ2EZY52 | Long             | LON              | CORP              | US        |    157575 | PA      | $158035.12    | 0.09%             | 2031-05-31      | Floating      | 7.33%                 | No            |                  2 | On Loan: No      |
| Gloves Buyer Inc                                                            | GLOVES BUYER INC                                                    | CUSIP: 37987UAG7<br>LEI: 54930015O0Y94T5H8Z18 | Long             | LON              | CORP              | US        |    515000 | PA      | $504056.25    | 0.27%             | 2032-05-21      | Floating      | 8.32%                 | No            |                  2 | On Loan: No      |
| Madison Iaq LLC                                                             | MADISON IAQ LLC                                                     | CUSIP: 55759VAB4<br>LEI: 549300IXDNBXNHUPBU73 | Long             | LON              | CORP              | US        |   1102859 | PA      | $1103146.22   | 0.60%             | 2028-06-21      | Floating      | 6.76%                 | No            |                  2 | On Loan: No      |
| USALCO LLC                                                                  | USALCO LLC                                                          | CUSIP: 91732NAM5<br>LEI: 5493006WBYB0CYPCSG20 | Long             | LON              | CORP              | US        |     56429 | PA      | $56679.80     | 0.03%             | 2031-09-30      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| WEC US HOLDINGS INC                                                         | WEC US HOLDINGS INC                                                 | CUSIP: 92943LAC4<br>LEI: 5493002M6GRSU1IWMG57 | Long             | LON              | CORP              | US        |   1235448 | PA      | $1235349.66   | 0.67%             | 2031-01-27      | Floating      | 6.57%                 | No            |                  2 | On Loan: No      |
| Madison Iaq LLC                                                             | MADISON IAQ LLC                                                     | CUSIP: 55759VAD0<br>LEI: 549300IXDNBXNHUPBU73 | Long             | LON              | CORP              | US        |    285000 | PA      | $285601.35    | 0.16%             | 2032-05-06      | Floating      | 7.51%                 | No            |                  2 | On Loan: No      |
| Endo Finance Holdings Inc                                                   | ENDO FINANCE HOLDINGS                                               | CUSIP: 29280UAD5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    168725 | PA      | $168345.37    | 0.09%             | 2031-04-23      | Floating      | 8.33%                 | No            |                  2 | On Loan: No      |
| Ncr Atleos Corporation                                                      | NCR ATLEOS CORP                                                     | CUSIP: 63001PAF8<br>LEI: 9845005FC3S0VA714741 | Long             | LON              | CORP              | US        |    413867 | PA      | $416556.79    | 0.23%             | 2029-04-16      | Floating      | 8.03%                 | No            |                  2 | On Loan: No      |
| CPM Holdings Inc                                                            | CPM HOLDINGS INC                                                    | CUSIP: 12620BAR1<br>LEI: 549300FBUISJCXV8IB65 | Long             | LON              | CORP              | US        |    695425 | PA      | $678366.15    | 0.37%             | 2028-09-28      | Floating      | 8.82%                 | No            |                  2 | On Loan: No      |
| SPDR Bloomberg Short Term High Yield Bond ETF                               | SPDR Bloomberg Short Term High Yield Bond ETF                       | CUSIP: 78468R408<br>LEI: 549300YI2V5ELVW58659 | Long             | EC               | RF                | US        |     35960 | NS      | $916260.80    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| SKECHERS U.S.A. INC. (Beach Acquisition Bidco)                              | BEACH ACQUISITION BIDCO                                             | CUSIP: 000000000<br>LEI: 254900F2FNX3GBTB6202 | Long             | LON              | CORP              | US        |    185000 | PA      | $185925.00    | 0.10%             | 2032-06-25      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| Great Canadian Gaming (fka Raptor Acquisition) (11/24) 1st Lien             | GREAT CANADIAN G 11/01/29                                           | CUSIP: 000000000<br>LEI: 549300FU60SSFLTE0M84 | Long             | LON              | CORP              | CA        |    231283 | PA      | $225500.89    | 0.12%             | 2029-11-01      | Floating      | 9.07%                 | No            |                  2 | On Loan: No      |
| Century DE Buyer LLC                                                        | CENTURY DE BUYE 10/30/30                                            | CUSIP: 15651FAD8<br>LEI: 254900PQRPPYRTQIDX74 | Long             | LON              | CORP              | US        |    684162 | PA      | $687870.14    | 0.37%             | 2030-10-30      | Floating      | 7.78%                 | No            |                  2 | On Loan: No      |
| QXO Building Products Inc (f/k/a Beacon Roofing Supply Inc.)                | QXO INC                                                             | CUSIP: 07368RAJ0<br>LEI: 549300HDXQWWCBOYXP31 | Long             | LON              | CORP              | US        |     58556 | PA      | $58904.55     | 0.03%             | 2032-04-30      | Floating      | 7.28%                 | No            |                  2 | On Loan: No      |
| Epicor Software Corporation                                                 | EPICOR SOFTWARE CORP                                                | CUSIP: 29426NAZ7<br>LEI: JGNXVGGGXR4O1L5I7S73 | Long             | LON              | CORP              | US        |    809085 | PA      | $810711.40    | 0.44%             | 2031-05-30      | Floating      | 7.08%                 | No            |                  2 | On Loan: No      |
| Clarios Global LP                                                           | CLARIOS GLOBAL LP                                                   | CUSIP: 000000000<br>LEI: 549300474L1ZLXZY2P98 | Long             | LON              | CORP              | US        |   1067897 | PA      | $1063892.75   | 0.58%             | 2030-05-06      | Floating      | 6.83%                 | No            |                  2 | On Loan: No      |
| Acrisure LLC                                                                | ACRISURE LLC                                                        | CUSIP: 00488PAX3<br>LEI: 549300R0Z1Q47XRTGO22 | Long             | LON              | CORP              | US        |   2102071 | PA      | $2099443.70   | 1.14%             | 2032-06-05      | Floating      | 7.57%                 | No            |                  2 | On Loan: No      |
| Belron Finance US LLC                                                       | BELRON FINANCE 2019 LLC                                             | CUSIP: 08078UAM5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    838140 | PA      | $841056.87    | 0.46%             | 2031-10-16      | Floating      | 7.05%                 | No            |                  2 | On Loan: No      |
| Hamilton Projects Acquiror LLC                                              | HAMILTON PROJECTS ACQUIROR LLC                                      | CUSIP: 000000000<br>LEI: 5493005K6XILIQ2EZY52 | Long             | LON              | CORP              | US        |    285000 | PA      | $285832.20    | 0.16%             | 2031-05-30      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| Viasat Inc                                                                  | Viasat Inc                                                          | CUSIP: 92555WAD7<br>LEI: UFC8NYMNFSYIHNSM2I38 | Long             | LON              | CORP              | US        |    913980 | PA      | $876278.52    | 0.48%             | 2029-03-02      | Floating      | 8.94%                 | No            |                  2 | On Loan: No      |
| Froneri International Limited                                               | FRONERI US INC                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1186303 | PA      | $1172221.59   | 0.64%             | 2031-09-17      | Floating      | 6.24%                 | No            |                  2 | On Loan: No      |
| Agiliti Health Inc                                                          | AGILITI HEALTH INC                                                  | CUSIP: 00847YAE2<br>LEI: 25490002CCQ55NKGNB14 | Long             | LON              | CORP              | US        |    834806 | PA      | $806631.37    | 0.44%             | 2030-05-01      | Floating      | 7.26%                 | No            |                  2 | On Loan: No      |
| HUB International Ltd                                                       | HUB INTERNATIONAL LTD                                               | CUSIP: 44332EAZ9<br>LEI: 549300JQT6ATTUNS5E06 | Long             | LON              | CORP              | US        |    591700 | PA      | $593338.53    | 0.32%             | 2030-06-20      | Floating      | 6.77%                 | No            |                  2 | On Loan: No      |
| Allied Universal Holdco LLC                                                 | Allied Universal Holdco LLC                                         | CUSIP: 01957TAH0<br>LEI: 98450038B4549046D794 | Long             | LON              | CORP              | US        |    600322 | PA      | $602975.58    | 0.33%             | 2028-05-12      | Floating      | 8.18%                 | No            |                  2 | On Loan: No      |
| HESS MIDSTREAM OPERATION                                                    | Hess Midstream Operations LP                                        | CUSIP: 428102AH0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    280000 | PA      | $284173.68    | 0.15%             | 2028-03-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| WR Grace Holdings LLC                                                       | WR GRACE HOLDINGS LLC                                               | CUSIP: 92943HAB5<br>LEI: 549300WNOVFRGYOAEB12 | Long             | LON              | CORP              | US        |    748062 | PA      | $748376.21    | 0.41%             | 2028-09-22      | Floating      | 7.55%                 | No            |                  2 | On Loan: No      |
| DIRECTV FINANCING LLC                                                       | Directv Financing LLC                                               | CUSIP: 25461LAB8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     35000 | PA      | $34320.64     | 0.02%             | 2030-02-01      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| ACRISURE LLC / FIN INC                                                      | Acrisure LLC / Acrisure Finance Inc                                 | CUSIP: 00489LAH6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    515000 | PA      | $500677.42    | 0.27%             | 2029-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MAUSER PACKAGING SOLUT                                                      | MAUSER PACKAGING SOLUTIONS HOLDING CO                               | CUSIP: 57763TAE3<br>LEI: 549300DNGHXL0OMHW304 | Long             | LON              | CORP              | US        |    614267 | PA      | $613886.22    | 0.33%             | 2027-04-16      | Floating      | 7.32%                 | No            |                  2 | On Loan: No      |
| GATES CORPORATION/DE                                                        | GATES CORPORATION                                                   | CUSIP: 36740UAY8<br>LEI: 984500F43C791F4C7894 | Long             | LON              | CORP              | US        |    883325 | PA      | $882618.34    | 0.48%             | 2031-06-04      | Floating      | 6.08%                 | No            |                  2 | On Loan: No      |
| American Airlines Inc                                                       | AADVANTAGE LOYALTY IP LTD                                           | CUSIP: 02376CBS3<br>LEI: N/A                  | Long             | LON              | CORP              | KY        |    958500 | PA      | $951157.89    | 0.52%             | 2028-04-20      | Floating      | 6.52%                 | No            |                  2 | On Loan: No      |
| Entain PLC                                                                  | ENTAIN PLC                                                          | CUSIP: 36270BAC6<br>LEI: 213800GNI3K45LQR8L28 | Long             | LON              | CORP              | IM        |    277200 | PA      | $278037.14    | 0.15%             | 2029-10-31      | Floating      | 7.02%                 | No            |                  2 | On Loan: No      |
| SIGMA HOLDCO BV                                                             | Sigma Holdco BV                                                     | CUSIP: 82660CAA0<br>LEI: 254900RAPCKVT00GAO59 | Long             | DBT              | CORP              | NL        |    180000 | PA      | $180001.98    | 0.10%             | 2026-05-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| LifePoint Health Inc                                                        | LIFEPOINT HEALTH INC                                                | CUSIP: 75915TAL6<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | LON              | CORP              | US        |    133989 | PA      | $131716.72    | 0.07%             | 2031-05-16      | Floating      | 7.82%                 | No            |                  2 | On Loan: No      |
| Sazerac Company, Inc.                                                       | SAZERAC CO INC                                                      | CUSIP: 000000000<br>LEI: 9QU0CG1O4LSOB6IFK895 | Long             | LON              | CORP              | US        |    340000 | PA      | $339575.00    | 0.18%             | 2032-06-26      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| Pegasus Bidco Bv                                                            | PEGASUS BIDCO BV                                                    | CUSIP: 000000000<br>LEI: 254900U303DPAFR7MA71 | Long             | LON              | CORP              | NL        |    846950 | PA      | $851184.30    | 0.46%             | 2029-07-12      | Floating      | 7.58%                 | No            |                  2 | On Loan: No      |
| Hilcorp Energy I LP                                                         | HILCORP ENERGY I LP                                                 | CUSIP: 431319AH5<br>LEI: 549300ITPIHLG0LHEC09 | Long             | LON              | CORP              | US        |    628425 | PA      | $628425.00    | 0.34%             | 2030-02-05      | Floating      | 6.31%                 | No            |                  2 | On Loan: No      |
| MERLIN ENTERTAINMENTS GR                                                    | Merlin Entertainments Group US Holdings Inc                         | CUSIP: 59010UAA5<br>LEI: 549300HBQPPKS1187K54 | Long             | DBT              | CORP              | US        |    320000 | PA      | $285956.54    | 0.16%             | 2031-02-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Peer Holding III BV                                                         | PEER HOLDING III BV                                                 | CUSIP: 000000000<br>LEI: 7245002S0K5Q59JCVQ03 | Long             | LON              | CORP              | NL        |    569250 | PA      | $572272.72    | 0.31%             | 2030-10-26      | Floating      | 6.80%                 | No            |                  2 | On Loan: No      |
| Hanger Inc                                                                  | HANGER INC                                                          | CUSIP: 41043BAH1<br>LEI: 254900ZJJJYVLHJXSZ60 | Long             | LON              | CORP              | US        |    588741 | PA      | $589305.88    | 0.32%             | 2031-10-23      | Floating      | 7.83%                 | No            |                  2 | On Loan: No      |
| MAUSER PACKAGING SOLUT                                                      | Mauser Packaging Solutions Holding Co                               | CUSIP: 57763RAC1<br>LEI: 549300DNGHXL0OMHW304 | Long             | DBT              | CORP              | US        |    190000 | PA      | $188667.82    | 0.10%             | 2027-04-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| Cornerstone Building Brands Inc                                             | Cornerstone Building Brands Inc                                     | CUSIP: 72431HAD2<br>LEI: 549300IW41QEWQ6T0H29 | Long             | LON              | CORP              | US        |    381031 | PA      | $339117.52    | 0.18%             | 2028-04-12      | Floating      | 7.66%                 | No            |                  2 | On Loan: No      |
| Cincinnati Bell Inc                                                         | CINCINNATI BELL INC                                                 | CUSIP: 17187MAT7<br>LEI: 549300JYVZOCUJOHL272 | Long             | LON              | CORP              | US        |   1226417 | PA      | $1226637.38   | 0.67%             | 2028-11-22      | Floating      | 7.08%                 | No            |                  2 | On Loan: No      |
| Lightstone HoldCo LLC                                                       | Lightstone Holdco LLC                                               | CUSIP: 53226GAK7<br>LEI: 549300VXK6UGDG7H3G98 | Long             | LON              | CORP              | US        |    787078 | PA      | $786133.97    | 0.43%             | 2027-01-29      | Floating      | 10.03%                | No            |                  2 | On Loan: No      |
| Grant Thornton Advisors LLC                                                 | GRANT THORNTON ADVISORS                                             | CUSIP: 38821UAE0<br>LEI: 254900XS1SHU0YY3WF58 | Long             | LON              | CORP              | US        |      8586 | PA      | $8570.52      | 0.00%             | 2031-06-02      | Floating      | 7.08%                 | No            |                  2 | On Loan: No      |
| Peraton Corp                                                                | Peraton Corp                                                        | CUSIP: 71360HAB3<br>LEI: 549300EQPCK07ZW63836 | Long             | LON              | CORP              | US        |    584774 | PA      | $514782.27    | 0.28%             | 2028-02-01      | Floating      | 8.18%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                                                           | IRON MOUNTAIN INC                                                   | CUSIP: 46284NAV1<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | LON              | CORP              | US        |    852688 | PA      | $851264.20    | 0.46%             | 2031-01-31      | Floating      | 6.43%                 | No            |                  2 | On Loan: No      |
| Sinclair Television Group Inc                                               | SINCLAIR TELEVISION GROU                                            | CUSIP: 829229AV5<br>LEI: 549300CQGEN0CH65UD62 | Long             | LON              | CORP              | US        |   1072312 | PA      | $912537.94    | 0.50%             | 2030-12-31      | Floating      | 8.53%                 | No            |                  2 | On Loan: No      |
| Rocket Software Inc                                                         | ROCKET SOFTWARE INC                                                 | CUSIP: 77313DAW1<br>LEI: 549300PVG26ISP5X1556 | Long             | LON              | CORP              | US        |    815346 | PA      | $816911.69    | 0.44%             | 2028-11-28      | Floating      | 8.58%                 | No            |                  2 | On Loan: No      |
| Cornerstone Generation, LLC                                                 | CORNERSTONE GENERATION L                                            | CUSIP: 21924NAB4<br>LEI: 254900JBGAU2N55LVN75 | Long             | LON              | CORP              | US        |    745000 | PA      | $748412.10    | 0.41%             | 2031-10-28      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| Vertiv Group Corporation                                                    | VERTIV GROUP CORP                                                   | CUSIP: 92537EAF5<br>LEI: 549300ZT8RQ5VK10E643 | Long             | LON              | CORP              | US        |   1361570 | PA      | $1362577.91   | 0.74%             | 2027-03-02      | Floating      | 6.07%                 | No            |                  2 | On Loan: No      |
| Southern Veterinary Partners LLC                                            | SOUTHERN VETERINARY PART                                            | CUSIP: 84410HAN0<br>LEI: 549300DT78GYJYRK0R74 | Long             | LON              | CORP              | US        |    868711 | PA      | $869058.21    | 0.47%             | 2031-12-04      | Floating      | 7.53%                 | No            |                  2 | On Loan: No      |
| LIFEPOINT HEALTH INC                                                        | LifePoint Health Inc                                                | CUSIP: 53219LAV1<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | DBT              | CORP              | US        |    550000 | PA      | $594938.85    | 0.32%             | 2030-08-15      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| Surgery Center Holdings Inc                                                 | SURGERY CENTER HOLDINGS INC                                         | CUSIP: 86880NBB8<br>LEI: 54930054EVI5HWPPW113 | Long             | LON              | CORP              | US        |    953321 | PA      | $956009.07    | 0.52%             | 2030-12-19      | Floating      | 7.08%                 | No            |                  2 | On Loan: No      |
| Wand NewCo 3 Inc                                                            | WAND NEWCO 3 INC                                                    | CUSIP: 93369PAM6<br>LEI: 549300Y3VZEWMSQW8494 | Long             | LON              | CORP              | US        |    707730 | PA      | $704106.44    | 0.38%             | 2031-01-30      | Floating      | 6.83%                 | No            |                  2 | On Loan: No      |
| Infinite Bidco LLC                                                          | Infinite Bidco LLC                                                  | CUSIP: 45674KAB1<br>LEI: 549300GLV0VRADA9LI65 | Long             | LON              | CORP              | US        |    374242 | PA      | $351787.87    | 0.19%             | 2028-03-02      | Floating      | 8.29%                 | No            |                  2 | On Loan: No      |
| West Marine / Rising Tide - Common Stock                                    | West Marine / Rising Tide - Common Stock                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1450 | NS      | $145.00       | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| AmWINS Group Inc                                                            | AMWINS GROUP INC                                                    | CUSIP: 03234TBA5<br>LEI: 549300SJE7MUB8NMRG61 | Long             | LON              | CORP              | US        |    856186 | PA      | $856340.39    | 0.47%             | 2032-01-30      | Floating      | 6.58%                 | No            |                  2 | On Loan: No      |
| Goat Holdco LLC                                                             | GOAT HOLDCO LLC                                                     | CUSIP: 38021CAC2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    763088 | PA      | $763850.59    | 0.42%             | 2032-01-27      | Floating      | 7.08%                 | No            |                  2 | On Loan: No      |
| Bausch & Lomb Corporation                                                   | Bausch + Lomb Corp                                                  | CUSIP: 000000000<br>LEI: 549300NY6OZM39SO6475 | Long             | LON              | CORP              | CA        |    730000 | PA      | $728423.20    | 0.40%             | 2027-05-10      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| Proofpoint Inc                                                              | PROOFPOINT INC                                                      | CUSIP: 74345HAG6<br>LEI: 529900C5FODDK0WSR085 | Long             | LON              | CORP              | US        |   1283140 | PA      | $1283280.66   | 0.70%             | 2028-08-31      | Floating      | 7.33%                 | No            |                  2 | On Loan: No      |
| CNT Holdings I Corp                                                         | CNT HOLDINGS I CORP                                                 | CUSIP: 12656AAF6<br>LEI: 254900SYIEHMSB69WT08 | Long             | LON              | CORP              | US        |    910577 | PA      | $912379.51    | 0.50%             | 2032-11-08      | Floating      | 6.78%                 | No            |                  2 | On Loan: No      |
| Del Monte Foods, Inc.                                                       | DEL MONTE FOODS CORP II                                             | CUSIP: 24521WAC3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    345364 | PA      | $189950.04    | 0.10%             | 2028-08-02      | Floating      | 8.72%                 | No            |                  2 | On Loan: No      |
| Trucordia/PCF Insurance (BSL)                                               | TRUCORDIA                                                           | CUSIP: 89783WAB1<br>LEI: 254900KYYP47CV7DMK95 | Long             | LON              | CORP              | US        |    365000 | PA      | $365456.25    | 0.20%             | 2032-06-14      | Floating      | 7.56%                 | No            |                  2 | On Loan: No      |
| TK Elevator Midco Gmbh                                                      | TK ELEVATOR US NEWCO INC                                            | CUSIP: 000000000<br>LEI: 549300C2AFWPAYWS5574 | Long             | LON              | CORP              | US        |    515000 | PA      | $516112.40    | 0.28%             | 2030-04-30      | Floating      | 7.24%                 | No            |                  2 | On Loan: No      |
| Paragon Offshore Finance Company                                            | Paragon Offshore Finance Co                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | KY        |     11329 | PA      | $0.00         | 0.00%             | 2021-07-16      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Construction Partners Inc                                                   | CONSTRUCTION PARTNERS INC                                           | CUSIP: 21043XAH5<br>LEI: 549300MHLFL4E8JLZU44 | Long             | LON              | CORP              | US        |    990711 | PA      | $993187.56    | 0.54%             | 2031-11-03      | Floating      | 6.83%                 | No            |                  2 | On Loan: No      |
| OPAL BIDCO                                                                  | Opal Bidco SAS                                                      | CUSIP: 68348BAA1<br>LEI: 969500R96XT7XY2UJ564 | Long             | DBT              | CORP              | FR        |     30000 | PA      | $30618.39     | 0.02%             | 2032-03-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                                               | TRANSDIGM INC                                                       | CUSIP: 89364MCA0<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | LON              | CORP              | US        |   1428504 | PA      | $1430932.49   | 0.78%             | 2031-02-28      | Floating      | 6.83%                 | No            |                  2 | On Loan: No      |
| Javelin Buyer Inc (f/k/a S2P Acquisition Borrower Inc)                      | JAGGAER LLC                                                         | CUSIP: 000000000<br>LEI: 254900GL30A9G6Z7OW50 | Long             | LON              | CORP              | US        |    658350 | PA      | $661022.90    | 0.36%             | 2031-12-06      | Floating      | 7.33%                 | No            |                  2 | On Loan: No      |
| Asurion LLC                                                                 | Asurion LLC                                                         | CUSIP: 04649VAY6<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |   1845182 | PA      | $1842488.32   | 1.00%             | 2027-07-31      | Floating      | 7.69%                 | No            |                  2 | On Loan: No      |
| LifePoint Health Inc                                                        | LIFEPOINT HEALTH INC                                                | CUSIP: 75915TAK8<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | LON              | CORP              | US        |    322938 | PA      | $319153.40    | 0.17%             | 2031-05-16      | Floating      | 8.01%                 | No            |                  2 | On Loan: No      |
| Cpv Fairview, LLC                                                           | CPV FAIRVIEW LLC                                                    | CUSIP: 12620SAB9<br>LEI: 549300SLZ4P6TH9PTH93 | Long             | LON              | CORP              | US        |    265936 | PA      | $266683.64    | 0.15%             | 2031-08-14      | Floating      | 7.33%                 | No            |                  2 | On Loan: No      |
| CITADEL SECURITIES GLOBA                                                    | Citadel Securities Global Holdings LLC                              | CUSIP: 17289RAA4<br>LEI: 549300NV5RXBUS3X7L47 | Long             | DBT              | CORP              | US        |    180000 | PA      | $182138.57    | 0.10%             | 2030-06-18      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Klockner Pentaplast of America Inc                                          | Kloeckner Pentaplast of America Inc                                 | CUSIP: 49865NAT7<br>LEI: 5299004QDA11QZOG5N31 | Long             | LON              | CORP              | US        |    988635 | PA      | $905411.50    | 0.49%             | 2026-02-12      | Floating      | 9.23%                 | No            |                  2 | On Loan: No      |
| Cotiviti Inc                                                                | COTIVITI INC                                                        | CUSIP: 22164MAD9<br>LEI: 254900YAQHVRTG4IFI64 | Long             | LON              | CORP              | US        |    120000 | PA      | $120450.00    | 0.07%             | 2031-05-01      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| Dun & Bradstreet Corporation (The)                                          | DUN & BRADSTREET CORP                                               | CUSIP: 26483NAW0<br>LEI: RI37BMPWE56BCJ747E14 | Long             | LON              | CORP              | US        |    907702 | PA      | $906921.40    | 0.49%             | 2029-01-18      | Floating      | 6.57%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                                                    | CHS/Community Health Systems Inc                                    | CUSIP: 12543DBG4<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |    620000 | PA      | $610687.90    | 0.33%             | 2027-03-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Financiere Mendel                                                           | FINANCIERE MENDEL SASU                                              | CUSIP: 000000000<br>LEI: 969500FG3VYTO80D0A13 | Long             | LON              | CORP              | FR        |    139650 | PA      | $139591.35    | 0.08%             | 2030-11-08      | Floating      | 7.05%                 | No            |                  2 | On Loan: No      |
| Titan Acquisition Limited                                                   | TITAN ACQUISITION LTD                                               | CUSIP: 000000000<br>LEI: 5493003ZDHRVP2N4C109 | Long             | LON              | CORP              | CA        |    692740 | PA      | $694097.33    | 0.38%             | 2029-02-15      | Floating      | 8.75%                 | No            |                  2 | On Loan: No      |
| Albion Financing 3 SARL                                                     | AGGREKO HOLDINGS INC                                                | CUSIP: 00847NAE6<br>LEI: 213800VFJ5CIN2NUQ821 | Long             | LON              | CORP              | US        |    431382 | PA      | $431654.01    | 0.23%             | 2029-08-16      | Floating      | 7.32%                 | No            |                  2 | On Loan: No      |
| NAB Holdings LLC                                                            | NORTHAB LLC                                                         | CUSIP: 66345FAB7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1274032 | PA      | $1257838.62   | 0.68%             | 2028-11-24      | Floating      | 6.80%                 | No            |                  2 | On Loan: No      |
| Dynamo Us Bidco Inc.                                                        | DYNAMO US BIDCO INC                                                 | CUSIP: 26806DAB8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    148878 | PA      | $149157.54    | 0.08%             | 2031-10-01      | Floating      | 7.80%                 | No            |                  2 | On Loan: No      |
| Charter Communications Operating LLC                                        | CHARTER COMMUNICATIONS OPER                                         | CUSIP: 16117LCB3<br>LEI: 549300TPZNMN50BJ3745 | Long             | LON              | CORP              | US        |    922658 | PA      | $921920.10    | 0.50%             | 2030-12-07      | Floating      | 6.30%                 | No            |                  2 | On Loan: No      |
| UKG Inc                                                                     | UKG INC                                                             | CUSIP: 89841EAB1<br>LEI: 529900FKHWSTQ1GXK240 | Long             | LON              | CORP              | US        |   1676050 | PA      | $1681950.16   | 0.92%             | 2031-02-10      | Floating      | 7.31%                 | No            |                  2 | On Loan: No      |
| MV Holding GmbH FKA Igloo Holdings Corp                                     | MX HOLDINGS US INC                                                  | CUSIP: 55404TAF9<br>LEI: 549300RKTIVJWNROR778 | Long             | LON              | CORP              | US        |    620000 | PA      | $622325.00    | 0.34%             | 2032-03-17      | Floating      | 6.58%                 | No            |                  2 | On Loan: No      |
| Ensemble RCM LLC                                                            | ENSEMBLE RCM LLC                                                    | CUSIP: 29359BAE1<br>LEI: 254900PDXJVVI20WAQ37 | Long             | LON              | CORP              | US        |    559520 | PA      | $561556.85    | 0.31%             | 2029-08-01      | Floating      | 7.28%                 | No            |                  2 | On Loan: No      |
| CE Intermediate I LLC                                                       | CE INTERMEDIATE I LLC                                               | CUSIP: 12523EAD4<br>LEI: 2549000GTXAQSR1SRO50 | Long             | LON              | CORP              | US        |    552923 | PA      | $552232.10    | 0.30%             | 2032-03-25      | Floating      | 7.45%                 | No            |                  2 | On Loan: No      |
| Select Medical Corporation                                                  | SELECT MEDICAL CORP                                                 | CUSIP: 816194AY0<br>LEI: 549300X05KS0JKR8CB50 | Long             | LON              | CORP              | US        |    701475 | PA      | $702793.77    | 0.38%             | 2031-12-03      | Floating      | 6.33%                 | No            |                  2 | On Loan: No      |
| CHG Healthcare Services Inc                                                 | CHG HEALTHCARE SERVICES INC                                         | CUSIP: 12541HAW3<br>LEI: 54930016Y1HPAVB9PZ54 | Long             | LON              | CORP              | US        |    867323 | PA      | $869977.09    | 0.47%             | 2028-09-29      | Floating      | 7.33%                 | No            |                  2 | On Loan: No      |
| Life Time Inc (f/k/a Life Time Fitness Inc)                                 | LIFE TIME INC                                                       | CUSIP: 50218KAM0<br>LEI: 549300PALKE96VYH4X17 | Long             | LON              | CORP              | US        |    776100 | PA      | $777652.20    | 0.42%             | 2031-11-05      | Floating      | 6.78%                 | No            |                  2 | On Loan: No      |
| INDICOR LLC                                                                 | ROPER INDUSTRIAL PRODUCT                                            | CUSIP: 77669LAK9<br>LEI: 254900RXO1EICEHOLG29 | Long             | LON              | CORP              | US        |   1091623 | PA      | $1088555.47   | 0.59%             | 2029-11-22      | Floating      | 7.05%                 | No            |                  2 | On Loan: No      |
| CVR CHC LP                                                                  | CVR CHC LP                                                          | CUSIP: 12663SAB7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    405039 | PA      | $404362.11    | 0.22%             | 2027-12-30      | Floating      | 8.30%                 | No            |                  2 | On Loan: No      |
| FERTITTA ENTERTAINMENT L                                                    | FERTITTA ENTERTAINMENT LLC/NV                                       | CUSIP: 31556PAB3<br>LEI: 984500A0805D8V551D35 | Long             | LON              | CORP              | US        |    599998 | PA      | $598948.29    | 0.33%             | 2029-01-29      | Floating      | 7.83%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                                                       | Level 3 Financing Inc                                               | CUSIP: 527298BR3<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |     55000 | PA      | $50433.35     | 0.03%             | 2028-07-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Shift4 Payments LLC                                                         | SHIFT4PAYMENTSLLC                                                   | CUSIP: 000000000<br>LEI: 254900GTEMR7L40VPI74 | Long             | LON              | CORP              | US        |    160000 | PA      | $161249.60    | 0.09%             | 2032-05-07      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| Crisis Prevention Institute, Inc.                                           | TEI HOLDINGS INC                                                    | CUSIP: 22663GAD8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    353225 | PA      | $352783.47    | 0.19%             | 2031-04-09      | Floating      | 8.30%                 | No            |                  2 | On Loan: No      |
| South Field Energy LLC                                                      | SOUTH FIELD ENERGY LLC                                              | CUSIP: 000000000<br>LEI: 549300M3RBW5ZIH20760 | Long             | LON              | CORP              | US        |     12136 | PA      | $12181.19     | 0.01%             | 2031-08-29      | Floating      | 7.55%                 | No            |                  2 | On Loan: No      |
| Lsf12 Crown Us Commercial Bidco, LLC                                        | LSF12 CROWN US COMMERCIAL BIDCO LLC                                 | CUSIP: 50221UAC5<br>LEI: 254900FI2OCFTJ9PAJ18 | Long             | LON              | CORP              | US        |    815000 | PA      | $818569.70    | 0.45%             | 2031-12-02      | Floating      | 8.57%                 | No            |                  2 | On Loan: No      |
| AL GCX FUND VIII HOLDINGS LLC                                               | AL GCX FUND VIII HOLDINGS LLC                                       | CUSIP: 00162AAB7<br>LEI: 254900KQJGH397AKYT16 | Long             | LON              | CORP              | US        |    740000 | PA      | $738616.20    | 0.40%             | 2032-01-30      | Floating      | 6.29%                 | No            |                  2 | On Loan: No      |
| Global Medical Response Inc                                                 | GLOBAL MEDICAL RESPONSE                                             | CUSIP: 00169QAG4<br>LEI: 549300ZFWD4ZFCEJCQ87 | Long             | LON              | CORP              | US        |    559295 | PA      | $559607.91    | 0.30%             | 2028-10-31      | Floating      | 9.08%                 | No            |                  2 | On Loan: No      |
| LADDER CAP FIN LLLP/CORP                                                    | Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp  | CUSIP: 505742AM8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    225000 | PA      | $221828.60    | 0.12%             | 2027-02-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| ELLUCIAN HOLDING Inc                                                        | ELLUCIAN HOLDINGS INC                                               | CUSIP: 28917XAE0<br>LEI: 549300RP8NIJ7FY7OS79 | Long             | LON              | CORP              | US        |     70000 | PA      | $71400.00     | 0.04%             | 2032-11-15      | Floating      | 9.08%                 | No            |                  2 | On Loan: No      |
| Triton Water Holdings Inc                                                   | PRIMO BRANDS CORP                                                   | CUSIP: 89678QAD8<br>LEI: 254900J0WS4AXV2LAX55 | Long             | LON              | CORP              | US        |   1230595 | PA      | $1234458.77   | 0.67%             | 2028-03-31      | Floating      | 6.55%                 | No            |                  2 | On Loan: No      |
| Level 3 Financing Inc                                                       | LEVEL 3 FINANCING INC                                               | CUSIP: 52729KAT3<br>LEI: 254900AE5FEFIJOXWL19 | Long             | LON              | CORP              | US        |    705000 | PA      | $712198.05    | 0.39%             | 2032-03-27      | Floating      | 8.58%                 | No            |                  2 | On Loan: No      |
| Hanger Inc                                                                  | HANGER INC                                                          | CUSIP: 41043BAJ7<br>LEI: 254900ZJJJYVLHJXSZ60 | Long             | LON              | CORP              | US        |     75965 | PA      | $76037.93     | 0.04%             | 2031-10-23      | Floating      | 7.83%                 | No            |                  2 | On Loan: No      |
| Fugue Finance LLC                                                           | FUGUE FINANCE LLC                                                   | CUSIP: 000000000<br>LEI: 254900Y4DWBRGAFENC88 | Long             | LON              | CORP              | HK        |    210000 | PA      | $211138.20    | 0.11%             | 2032-01-09      | Floating      | 7.58%                 | No            |                  2 | On Loan: No      |
| Ion Trading Finance Limited                                                 | ION TRADING TECHNOLOGIES SA                                         | CUSIP: 000000000<br>LEI: 5493009ZVXOKZLQ6QJ12 | Long             | LON              | CORP              | LU        |    522787 | PA      | $522452.10    | 0.28%             | 2028-04-01      | Floating      | 7.80%                 | No            |                  2 | On Loan: No      |
| Catawba Nation Gaming Authority                                             | CATAWBA NATION GAMING AUTHORITY                                     | CUSIP: 14907EAD6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    375000 | PA      | $378907.50    | 0.21%             | 2032-03-28      | Floating      | 9.05%                 | No            |                  2 | On Loan: No      |
| PetsMart LLC                                                                | PetSmart LLC                                                        | CUSIP: 71677HAL9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    615982 | PA      | $608412.05    | 0.33%             | 2028-02-11      | Floating      | 8.18%                 | No            |                  2 | On Loan: No      |
| Cube Industrials Buyer Inc                                                  | CUBE A&D BUYER INC                                                  | CUSIP: 22971EAB4<br>LEI: 25490058FG1NWDNJ5K52 | Long             | LON              | CORP              | US        |    495000 | PA      | $497009.70    | 0.27%             | 2031-10-17      | Floating      | 7.77%                 | No            |                  2 | On Loan: No      |
| EG America LLC                                                              | EG AMERICA LLC                                                      | CUSIP: 000000000<br>LEI: 549300BY1CRYVPEG9R57 | Long             | LON              | CORP              | US        |    476700 | PA      | $478229.72    | 0.26%             | 2028-02-07      | Floating      | 8.58%                 | No            |                  2 | On Loan: No      |
| CQP Holdco LP                                                               | CQP HOLDCO LP                                                       | CUSIP: 12657QAE3<br>LEI: 549300LPL012JY5D4B69 | Long             | LON              | CORP              | US        |    632500 | PA      | $632265.98    | 0.34%             | 2030-12-31      | Floating      | 6.30%                 | No            |                  2 | On Loan: No      |
| White Cap Buyer LLC                                                         | WHITE CAP BUYER LLC                                                 | CUSIP: 96350TAH3<br>LEI: 254900L2N0T6GULCL366 | Long             | LON              | CORP              | US        |    646264 | PA      | $641739.87    | 0.35%             | 2029-10-19      | Floating      | 7.58%                 | No            |                  2 | On Loan: No      |
| ARDONAGH GROUP LTD                                                          | ARDONAGH GROUP FINCO PTY LTD                                        | CUSIP: 000000000<br>LEI: 254900YP2E642AGM4G32 | Long             | LON              | CORP              | AU        |    852862 | PA      | $845399.95    | 0.46%             | 2031-02-18      | Floating      | 7.33%                 | No            |                  2 | On Loan: No      |
| PRIMO / TRITON WATER HLD                                                    | Primo Water Holdings Inc / Triton Water Holdings Inc                | CUSIP: 74168RAC7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    225000 | PA      | $226568.37    | 0.12%             | 2029-04-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| SPDR Bloomberg High Yield Bond ETF                                          | SPDR Bloomberg High Yield Bond ETF                                  | CUSIP: 78468R622<br>LEI: 549300NCLW2248PN7J24 | Long             | EC               | RF                | US        |      9560 | NS      | $929901.20    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Red SPV LLC                                                                 | RED SPV LLC                                                         | CUSIP: 75701MAE5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    630000 | PA      | $628425.00    | 0.34%             | 2032-03-15      | Floating      | 6.56%                 | No            |                  2 | On Loan: No      |
| Hunter Holdco 3 Limited                                                     | Hunter US Bidco Inc                                                 | CUSIP: 12509YAE6<br>LEI: 549300KXGY77REE4ZR63 | Long             | LON              | CORP              | US        |    466819 | PA      | $443477.81    | 0.24%             | 2028-08-19      | Floating      | 8.65%                 | No            |                  2 | On Loan: No      |
| Prime Security Services Borrower, LLC (aka Protection 1 Security Solutions) | PRIME SECURITY SERVICES BOR                                         | CUSIP: 03765VAP5<br>LEI: 549300O6QPZVWXV2DC15 | Long             | LON              | CORP              | US        |   1036254 | PA      | $1036254.05   | 0.56%             | 2030-10-13      | Floating      | 6.32%                 | No            |                  2 | On Loan: No      |
| QXO BUILDING PRODUCTS                                                       | QXO Building Products Inc                                           | CUSIP: 74825NAA5<br>LEI: 549300HDXQWWCBOYXP31 | Long             | DBT              | CORP              | US        |    560000 | PA      | $576913.12    | 0.31%             | 2032-04-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| POST HOLDINGS INC                                                           | Post Holdings Inc                                                   | CUSIP: 737446AV6<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |    205000 | PA      | $206868.99    | 0.11%             | 2033-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| HUNTERSTOWN GENERATION LLC                                                  | KESTREL ACQUISITION LLC                                             | CUSIP: 44579UAB8<br>LEI: 549300ER0JUHJLPPMH08 | Long             | LON              | CORP              | US        |    570688 | PA      | $569454.82    | 0.31%             | 2031-11-06      | Floating      | 8.53%                 | No            |                  2 | On Loan: No      |
| Janus Henderson AAA CLO ETF                                                 | Janus Henderson AAA CLO ETF                                         | CUSIP: 47103U845<br>LEI: 549300N7UZ9PO4OVKA94 | Long             | EC               | RF                | US        |     22510 | NS      | $1142382.50   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| CSC HOLDINGS LLC                                                            | CSC Holdings LLC                                                    | CUSIP: 126307AY3<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    200000 | PA      | $148458.10    | 0.08%             | 2028-04-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Sigma Holdco BV                                                             | FLORA FOOD MANAG                                                    | CUSIP: 000000000<br>LEI: 254900U4MHW4MZWGFU47 | Long             | LON              | CORP              | US        |   1190115 | PA      | $1189972.42   | 0.65%             | 2028-01-03      | Floating      | 8.07%                 | No            |                  2 | On Loan: No      |
| Quikrete Holdings Inc                                                       | QUIKRETE HOLDINGS INC                                               | CUSIP: 74839XAK5<br>LEI: 5493007KIN86DIZWZT22 | Long             | LON              | CORP              | US        |    802161 | PA      | $801543.51    | 0.44%             | 2029-03-19      | Floating      | 6.58%                 | No            |                  2 | On Loan: No      |
| Epic Crude Services LP                                                      | EPIC CRUDE SERVICES LP                                              | CUSIP: 29428XAG5<br>LEI: 549300FRS682IQ7J9S42 | Long             | LON              | CORP              | US        |    718200 | PA      | $719844.68    | 0.39%             | 2031-10-15      | Floating      | 7.26%                 | No            |                  2 | On Loan: No      |
| Arcline FM Holdings, LLC                                                    | ARCLINE FM HOLDINGS LLC                                             | CUSIP: 000000000<br>LEI: 2549000HKCEC1E8UTO17 | Long             | LON              | CORP              | US        |   1233908 | PA      | $1238757.26   | 0.67%             | 2030-06-24      | Floating      | 7.58%                 | No            |                  2 | On Loan: No      |
| M6 Etx Holdings Ii Midco LLC                                                | M6 ETX HOLDINGS II MIDCO LLC                                        | CUSIP: 55285DAG6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    295000 | PA      | $296053.15    | 0.16%             | 2032-03-25      | Floating      | 7.33%                 | No            |                  2 | On Loan: No      |
| UFC Holdings LLC                                                            | UFC HOLDINGS LLC                                                    | CUSIP: 90266UAK9<br>LEI: 549300JEOTH7UMZ3C491 | Long             | LON              | CORP              | US        |    721375 | PA      | $723741.11    | 0.39%             | 2031-11-21      | Floating      | 6.57%                 | No            |                  2 | On Loan: No      |
| BrightView Landscapes LLC                                                   | BRIGHTVIEW LANDSCAPES                                               | CUSIP: 10801XAL1<br>LEI: 549300OSAEQC89PVOW06 | Long             | LON              | CORP              | US        |    923118 | PA      | $921198.00    | 0.50%             | 2029-04-20      | Floating      | 6.28%                 | No            |                  2 | On Loan: No      |
| Omnia Partners, LLC                                                         | OMNIA PARTNERS LLC                                                  | CUSIP: 68218HAE7<br>LEI: 254900ZD1P5CVG9GOS22 | Long             | LON              | CORP              | US        |    633466 | PA      | $634390.36    | 0.35%             | 2030-07-25      | Floating      | 7.03%                 | No            |                  2 | On Loan: No      |
| Motion Finco LLC                                                            | MOTION FINCO SARL                                                   | CUSIP: 000000000<br>LEI: 2549002L1LBQZKA7UN30 | Long             | LON              | CORP              | LU        |    621383 | PA      | $589928.28    | 0.32%             | 2029-11-12      | Floating      | 7.80%                 | No            |                  2 | On Loan: No      |
| ENVISION HEALTHCARE CORP Common Stock                                       | ENVISION HEALTHCARE CORP Common Stock                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6407 | NS      | $101711.13    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Alera Group Inc                                                             | ALERA GROUP INTERMEDIATE                                            | CUSIP: 01451PAB2<br>LEI: 2549003D76KZAKICNX26 | Long             | LON              | CORP              | US        |    235000 | PA      | $235646.25    | 0.13%             | 2032-05-30      | Floating      | 7.58%                 | No            |                  2 | On Loan: No      |
| FOCUS FINANCIAL PARTNERS                                                    | FOCUS FINANCIAL PARTNERS LLC                                        | CUSIP: 34416DBD9<br>LEI: 5493007L0E0VKRC2CP39 | Long             | LON              | CORP              | US        |    618446 | PA      | $616980.40    | 0.34%             | 2031-09-15      | Floating      | 7.08%                 | No            |                  2 | On Loan: No      |
| iShares iBoxx $ Investment Grade Corporate Bond ETF                         | iShares iBoxx $ Investment Grade Corporate Bond ETF                 | CUSIP: 464287242<br>LEI: 549300FYCXFXG8POR355 | Long             | EC               | RF                | US        |      4195 | NS      | $459813.95    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| BIFM US Finance LLC                                                         | BIFM CA BUYER INC                                                   | CUSIP: 000000000<br>LEI: 5493004RP2P0NY84N260 | Long             | LON              | CORP              | US        |    551281 | PA      | $553453.05    | 0.30%             | 2028-05-31      | Floating      | 8.08%                 | No            |                  2 | On Loan: No      |
| AI Aqua Merger Sub Inc FKA Osmosis Buyer Limited                            | AI AQUA MERGER SUB INC                                              | CUSIP: 00132UAP9<br>LEI: 5493005QMH1D47U26R45 | Long             | LON              | CORP              | US        |   1079755 | PA      | $1077519.96   | 0.59%             | 2028-07-31      | Floating      | 7.32%                 | No            |                  2 | On Loan: No      |
| RealPage Inc                                                                | RealPage Inc                                                        | CUSIP: 75605VAD4<br>LEI: 5493001RSFZX4122A604 | Long             | LON              | CORP              | US        |    462299 | PA      | $458739.78    | 0.25%             | 2028-04-24      | Floating      | 7.56%                 | No            |                  2 | On Loan: No      |
| Clydesdale Acquisition Holdings Inc                                         | CLYDESDALE ACQUISITION                                              | CUSIP: 18972FAC6<br>LEI: 254900QKSDYFR3K5YD98 | Long             | LON              | CORP              | US        |   1007420 | PA      | $1004992.56   | 0.55%             | 2029-04-13      | Floating      | 7.50%                 | No            |                  2 | On Loan: No      |
| Ineos US Finance LLC                                                        | INEOS US FINANCE LLC                                                | CUSIP: 000000000<br>LEI: 5493008MHJ4R367SNK31 | Long             | LON              | CORP              | US        |    681066 | PA      | $648375.23    | 0.35%             | 2031-02-07      | Floating      | 7.33%                 | No            |                  2 | On Loan: No      |
| Hunter Douglas Holding BV                                                   | HUNTER DOUGLAS INC                                                  | CUSIP: 000000000<br>LEI: 529900811T142NS3H544 | Long             | LON              | CORP              | US        |    477422 | PA      | $475235.31    | 0.26%             | 2032-01-17      | Floating      | 7.55%                 | No            |                  2 | On Loan: No      |
| Dreyfus Government Cash Management                                          | Dreyfus Government Cash Management                                  | CUSIP: 262006208<br>LEI: 5493000Q69I5Q3QZIA91 | Long             | STIV             | RF                | US        |   1236192 | NS      | $1236192.42   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Caesars Entertainment, Inc.                                                 | CAESARS ENTERTAIN INC                                               | CUSIP: 12768EAG1<br>LEI: 549300FA4CTCW903Y781 | Long             | LON              | CORP              | US        |    576338 | PA      | $575184.83    | 0.31%             | 2030-02-06      | Floating      | 6.58%                 | No            |                  2 | On Loan: No      |
| Connectwise, LLC                                                            | ConnectWise LLC                                                     | CUSIP: 20786NAC1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1086216 | PA      | $1090745.34   | 0.59%             | 2028-09-29      | Floating      | 8.06%                 | No            |                  2 | On Loan: No      |
| Trugreen Limited Partnership                                                | TruGreen LP                                                         | CUSIP: 89787RAH5<br>LEI: 549300QNRP2MNHR3QM19 | Long             | LON              | CORP              | US        |    530328 | PA      | $502157.36    | 0.27%             | 2027-11-02      | Floating      | 8.43%                 | No            |                  2 | On Loan: No      |
| HELIOS SOFT/ION CORP SOL                                                    | Helios Software Holdings Inc / ION Corporate Solutions Finance Sarl | CUSIP: 42329HAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     60000 | PA      | $61718.70     | 0.03%             | 2029-05-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Nouryon Finance BV                                                          | NOURYON FINANCE BV                                                  | CUSIP: 000000000<br>LEI: 549300GD4NJGLPVYB245 | Long             | LON              | CORP              | NL        |   1115548 | PA      | $1119731.63   | 0.61%             | 2028-04-03      | Floating      | 7.51%                 | No            |                  2 | On Loan: No      |
| DXP Enterprises Inc                                                         | DXP ENTERPRISES INC/TX                                              | CUSIP: 23338DAR7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    590488 | PA      | $593812.22    | 0.32%             | 2030-10-11      | Floating      | 8.08%                 | No            |                  2 | On Loan: No      |
| GARDA WORLD SECURITY                                                        | Garda World Security Corp                                           | CUSIP: 36485MAP4<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | DBT              | CORP              | CA        |    200000 | PA      | $205441.80    | 0.11%             | 2032-11-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC                                                           | HERC HOLDINGS INC                                                   | CUSIP: 000000000<br>LEI: 549300TP80QLITMSBP82 | Long             | LON              | CORP              | US        |    320000 | PA      | $320934.40    | 0.17%             | 2032-06-02      | Floating      | 6.33%                 | No            |                  2 | On Loan: No      |
| MCGRAW-HILL EDUCATION                                                       | McGraw-Hill Education Inc                                           | CUSIP: 58064LAA2<br>LEI: 254900U6YJ9QZ4IQOR26 | Long             | DBT              | CORP              | US        |    100000 | PA      | $104314.13    | 0.06%             | 2031-09-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| COTIVITI INC                                                                | COTIVITI INC                                                        | CUSIP: 22164MAB3<br>LEI: 254900YAQHVRTG4IFI64 | Long             | LON              | CORP              | US        |    706089 | PA      | $702121.10    | 0.38%             | 2031-05-01      | Floating      | 7.08%                 | No            |                  2 | On Loan: No      |
| Alliance Laundry Systems LLC                                                | ALLIANCE LAUNDRY SYSTEMS LLC                                        | CUSIP: 01862LBA5<br>LEI: 549300YBOGK6MBI5ND34 | Long             | LON              | CORP              | US        |    655000 | PA      | $655982.50    | 0.36%             | 2031-08-19      | Floating      | 6.83%                 | No            |                  2 | On Loan: No      |
| CHG PPC Parent LLC                                                          | CHG PPC Parent LLC                                                  | CUSIP: 12546FAF9<br>LEI: 54930019XJQNJAGXQ664 | Long             | LON              | CORP              | US        |    575773 | PA      | $577212.09    | 0.31%             | 2028-12-08      | Floating      | 7.44%                 | No            |                  2 | On Loan: No      |
| Scientific Games International, Inc.                                        | LIGHT & WONDER INTERNATIONAL INC                                    | CUSIP: 80875AAW1<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | LON              | CORP              | US        |    720833 | PA      | $720472.22    | 0.39%             | 2029-04-14      | Floating      | 6.56%                 | No            |                  2 | On Loan: No      |
| ESC NMG Parent LLC                                                          | ESC NMG Parent LLC                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3033 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Freeport LNG Investments, LLP                                               | FREEPORT LNG INVESTMENTS LLLP                                       | CUSIP: 35670CAC2<br>LEI: 549300LR5YVRZH4YPQ33 | Long             | LON              | CORP              | US        |    818400 | PA      | $817892.82    | 0.45%             | 2028-12-21      | Floating      | 7.54%                 | No            |                  2 | On Loan: No      |
| Central Parent LLC                                                          | CENTRAL PARENT INC                                                  | CUSIP: 15477BAE7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    799015 | PA      | $665259.94    | 0.36%             | 2029-07-06      | Floating      | 7.55%                 | No            |                  2 | On Loan: No      |
| JBT Marel Corporation (f/k/a John Bean Technologies Corporation)            | JOHN BEAN TECHNOLOGIES CORP                                         | CUSIP: 47783YAP4<br>LEI: 5493007CT6ATBZ2L6826 | Long             | LON              | CORP              | US        |    189525 | PA      | $189998.81    | 0.10%             | 2032-01-02      | Floating      | 6.43%                 | No            |                  2 | On Loan: No      |
| BMC Software (Boxer/ Bladelogic)                                            | BMC SOFTWARE INC                                                    | CUSIP: 05988HAQ0<br>LEI: 5493006T045HLTF7YX04 | Long             | LON              | CORP              | US        |    771317 | PA      | $765963.93    | 0.42%             | 2031-07-30      | Floating      | 7.33%                 | No            |                  2 | On Loan: No      |
| Whitewater Matterhorn Holdings, LLC                                         | WHITEWATERMATTERHORNHO                                              | CUSIP: 000000000<br>LEI: 2138009J7G187M6C4Q91 | Long             | LON              | CORP              | US        |    600000 | PA      | $599124.00    | 0.33%             | 2032-06-16      | Floating      | 6.57%                 | No            |                  2 | On Loan: No      |
| Star Parent Inc                                                             | STAR PARENT INC                                                     | CUSIP: 87169DAB1<br>LEI: 254900GRGCJYRMDRWT73 | Long             | LON              | CORP              | US        |    485263 | PA      | $480259.87    | 0.26%             | 2030-09-27      | Floating      | 8.30%                 | No            |                  2 | On Loan: No      |
| Nexstar Media Inc                                                           | NEXSTAR MEDIA INC                                                   | CUSIP: 65336RBB3<br>LEI: 5493006PK6I4I2OOT688 | Long             | LON              | CORP              | US        |    510000 | PA      | $508725.00    | 0.28%             | 2032-06-24      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| Creative Artists Agency, LLC                                                | CREATIVE ARTISTS AGENCY LLC                                         | CUSIP: 22526WAS7<br>LEI: 5493008FV5TCFL3KHH96 | Long             | LON              | CORP              | US        |    543700 | PA      | $545053.81    | 0.30%             | 2031-10-01      | Floating      | 7.08%                 | No            |                  2 | On Loan: No      |
| PGIM AAA CLO ETF                                                            | PGIM AAA CLO ETF                                                    | CUSIP: 69344A834<br>LEI: 5493000IJ4TGDWNHKI54 | Long             | EC               | RF                | US        |     22155 | NS      | $1139874.75   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| TricorBraun Inc                                                             | TricorBraun Holdings Inc                                            | CUSIP: 00184NAB3<br>LEI: 2549009AB5YVVW5J1U62 | Long             | LON              | CORP              | US        |    804678 | PA      | $803406.13    | 0.44%             | 2028-03-03      | Floating      | 7.69%                 | No            |                  2 | On Loan: No      |
| CALPINE CORP                                                                | CALPINE CORP                                                        | CUSIP: 13134MBW2<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | LON              | CORP              | US        |    915000 | PA      | $914313.75    | 0.50%             | 2031-01-31      | Floating      | 6.07%                 | No            |                  2 | On Loan: No      |
| iShares iBoxx $ High Yield Corporate Bond ETF                               | iShares iBoxx $ High Yield Corporate Bond ETF                       | CUSIP: 464288513<br>LEI: 549300FCCXHK7O37PQ68 | Long             | EC               | RF                | US        |     11520 | NS      | $929088.00    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Traverse Midstream Partners LLC                                             | TRAVERSE MIDSTREAM PARTN                                            | CUSIP: 89435TAB0<br>LEI: 549300DHTM8B2X5QMJ22 | Long             | LON              | CORP              | US        |    788952 | PA      | $789938.15    | 0.43%             | 2028-02-16      | Floating      | 7.28%                 | No            |                  2 | On Loan: No      |
| GRAHAM PACKAGING/GPC CAP                                                    | Graham Packaging Co Inc                                             | CUSIP: 384701AA6<br>LEI: 549300YS0ZFT826HIK72 | Long             | DBT              | CORP              | US        |    615000 | PA      | $613864.28    | 0.33%             | 2028-08-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Sapphire Bidco BV                                                           | TMF SAPPHIRE BIDCO BV                                               | CUSIP: 000000000<br>LEI: 213800H27OKZZZ2CB779 | Long             | LON              | CORP              | NL        |    409749 | PA      | $410392.27    | 0.22%             | 2028-05-03      | Floating      | 7.04%                 | No            |                  2 | On Loan: No      |
| Lightning Power, LLC                                                        | LIGHTNING POWER LLC                                                 | CUSIP: 53229LAB3<br>LEI: 254900BWCHJ03XRL8K59 | Long             | LON              | CORP              | US        |    697535 | PA      | $698309.16    | 0.38%             | 2031-08-18      | Floating      | 6.55%                 | No            |                  2 | On Loan: No      |
| Radiology Partners Inc                                                      | RADIOLOGY PARTNERS INC                                              | CUSIP: 000000000<br>LEI: 549300SFTAG2177WUZ08 | Long             | LON              | CORP              | US        |    976209 | PA      | $974314.69    | 0.53%             | 2029-01-31      | Floating      | 8.09%                 | No            |                  2 | On Loan: No      |
| Kuehg Corp.                                                                 | KUEHG CORP                                                          | CUSIP: 50118YAG4<br>LEI: 549300YNT566T1NYJX62 | Long             | LON              | CORP              | US        |    532908 | PA      | $532907.61    | 0.29%             | 2030-06-12      | Floating      | 7.55%                 | No            |                  2 | On Loan: No      |
| ECL Entertainment LLC                                                       | ECL ENTERTAINMENT LLC                                               | CUSIP: 26826TAL7<br>LEI: 254900UPSGHOBB360Z85 | Long             | LON              | CORP              | US        |    753997 | PA      | $753054.15    | 0.41%             | 2030-08-31      | Floating      | 7.83%                 | No            |                  2 | On Loan: No      |
| Ineos Finance PLC                                                           | INEOS US FINANCE LLC                                                | CUSIP: 000000000<br>LEI: 5493008MHJ4R367SNK31 | Long             | LON              | CORP              | US        |   1215886 | PA      | $1163347.14   | 0.63%             | 2030-02-18      | Floating      | 7.58%                 | No            |                  2 | On Loan: No      |
| Upstream Newco Inc                                                          | Upstream Newco Inc                                                  | CUSIP: 91678HAF9<br>LEI: 549300Q4K2W4R1EBTH48 | Long             | LON              | CORP              | US        |    255600 | PA      | $198090.05    | 0.11%             | 2026-11-20      | Floating      | 8.79%                 | No            |                  2 | On Loan: No      |
| First Brands Group LLC                                                      | First Brands Group LLC                                              | CUSIP: 31935HAG2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    838698 | PA      | $789600.71    | 0.43%             | 2027-03-30      | Floating      | 9.54%                 | No            |                  2 | On Loan: No      |
| Parexel International Inc (f/k/a Phoenix Newco Inc)                         | PHOENIX NEWCO INC                                                   | CUSIP: 71911KAE4<br>LEI: 254900PHGVI5379Z9791 | Long             | LON              | CORP              | US        |    645981 | PA      | $645935.75    | 0.35%             | 2028-11-15      | Floating      | 6.83%                 | No            |                  2 | On Loan: No      |
| WIN Waste Innovations Holdings Inc                                          | Win Waste Innovations Holdings Inc                                  | CUSIP: 38723BAJ0<br>LEI: 549300DJBUN7Z75R2S83 | Long             | LON              | CORP              | US        |    996352 | PA      | $984833.92    | 0.54%             | 2028-03-24      | Floating      | 7.19%                 | No            |                  2 | On Loan: No      |
| Cloud Software Group Inc                                                    | CLOUD SOFTWARE GROUP INC                                            | CUSIP: 88632NBE9<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | LON              | CORP              | US        |    597000 | PA      | $597883.56    | 0.33%             | 2031-03-24      | Floating      | 8.05%                 | No            |                  2 | On Loan: No      |
| Fugue Finance LLC                                                           | FUGUE FINANCE LLC                                                   | CUSIP: 000000000<br>LEI: 254900Y4DWBRGAFENC88 | Long             | LON              | CORP              | HK        |    159600 | PA      | $160465.03    | 0.09%             | 2032-01-09      | Floating      | 7.58%                 | No            |                  2 | On Loan: No      |
| MEDLINE BORROWER LP                                                         | Medline Borrower LP                                                 | CUSIP: 62482BAA0<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |    150000 | PA      | $143886.17    | 0.08%             | 2029-04-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Dechra Pharmaceuticals Holdings Limited (f/k/a Freya Bidco Limited)         | DECHRA FINANCE US                                                   | CUSIP: 24343EAB1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    518700 | PA      | $519638.85    | 0.28%             | 2032-01-27      | Floating      | 7.51%                 | No            |                  2 | On Loan: No      |
| LBM Acquisition LLC                                                         | LBM ACQUISITION LLC                                                 | CUSIP: 50179JAH1<br>LEI: 549300FAEB3VWZL4NI86 | Long             | LON              | CORP              | US        |    531524 | PA      | $494982.05    | 0.27%             | 2031-06-06      | Floating      | 8.16%                 | No            |                  2 | On Loan: No      |
| DS Parent Inc                                                               | DS PARENT INC                                                       | CUSIP: 23344YAG7<br>LEI: 254900EH8GRZUGRWRH57 | Long             | LON              | CORP              | US        |    641929 | PA      | $573724.02    | 0.31%             | 2031-01-31      | Floating      | 9.80%                 | No            |                  2 | On Loan: No      |
| Kaman Corporation                                                           | KAMAN CORP                                                          | CUSIP: 000000000<br>LEI: 5493003YK076OLTEQF95 | Long             | LON              | CORP              | US        |    769422 | PA      | $768221.65    | 0.42%             | 2032-02-26      | Floating      | 7.07%                 | No            |                  2 | On Loan: No      |
| Neptune Bidco Us Inc.                                                       | Neptune Bidco US Inc                                                | CUSIP: 64069JAC6<br>LEI: 549300VG15T3VCYZ4531 | Long             | LON              | CORP              | US        |   1037223 | PA      | $978505.75    | 0.53%             | 2029-04-11      | Floating      | 9.33%                 | No            |                  2 | On Loan: No      |
| J&J Ventures Gaming LLC                                                     | J&J VENTURES GAMING LLC                                             | CUSIP: 46604BAH1<br>LEI: 549300BYPH8FLKS5ZS70 | Long             | LON              | CORP              | US        |    669397 | PA      | $660875.88    | 0.36%             | 2030-04-26      | Floating      | 7.83%                 | No            |                  2 | On Loan: No      |
| Chariot Buyer LLC                                                           | Chariot Buyer LLC                                                   | CUSIP: 15963CAC0<br>LEI: 25490092IFNOZBRVE539 | Long             | LON              | CORP              | US        |    891957 | PA      | $892866.69    | 0.49%             | 2028-11-03      | Floating      | 7.68%                 | No            |                  2 | On Loan: No      |
| Chart Industries, Inc.                                                      | Chart Indus 03/18/30                                                | CUSIP: 16115EAT4<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | LON              | CORP              | US        |    672343 | PA      | $672975.39    | 0.37%             | 2030-03-15      | Floating      | 6.79%                 | No            |                  2 | On Loan: No      |
| Del Monte Foods, Inc                                                        | DEL MONTE FOODS CORP II                                             | CUSIP: 24521WAD1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    795189 | PA      | $127230.29    | 0.07%             | 2028-08-02      | Floating      | 9.21%                 | No            |                  2 | On Loan: No      |
| Kronos Acquisition Holdings Inc                                             | KRONOS ACQUISITION HOLDINGS INC                                     | CUSIP: 50106JAH9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    871434 | PA      | $777536.67    | 0.42%             | 2031-07-08      | Floating      | 8.30%                 | No            |                  2 | On Loan: No      |
| MH Sub I LLC                                                                | MH SUB I LLC                                                        | CUSIP: 45567YAN5<br>LEI: 2549005VFKP807SR8N49 | Long             | LON              | CORP              | US        |    497330 | PA      | $466092.68    | 0.25%             | 2028-05-03      | Floating      | 8.58%                 | No            |                  2 | On Loan: No      |
| DirectV Financing LLC                                                       | DIRECTV FINANCING LLC                                               | CUSIP: 25460HAD4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1236998 | PA      | $1225184.50   | 0.67%             | 2029-08-02      | Floating      | 9.79%                 | No            |                  2 | On Loan: No      |
| Opal Us LLC                                                                 | OPAL US LLC                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    785000 | PA      | $787700.40    | 0.43%             | 2032-04-28      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| St. Georges University Scholastic Services LLC                              | UNIVERSITY SUPPORT SERVICES                                         | CUSIP: 78957LAF9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    594209 | PA      | $571926.20    | 0.31%             | 2029-02-10      | Floating      | 7.08%                 | No            |                  2 | On Loan: No      |
| Glatfelter Corporation                                                      | TREASURE HOLDCO INC                                                 | CUSIP: 89458XAB3<br>LEI: 549300LDQLQBT38QDY28 | Long             | LON              | CORP              | US        |    880089 | PA      | $861386.83    | 0.47%             | 2031-11-04      | Floating      | 8.58%                 | No            |                  2 | On Loan: No      |
| Spin Holdco Inc                                                             | Spin Holdco Inc                                                     | CUSIP: 84850XAK8<br>LEI: 549300QAS44U2GUXGK45 | Long             | LON              | CORP              | US        |    807179 | PA      | $706281.99    | 0.38%             | 2028-03-04      | Floating      | 8.58%                 | No            |                  2 | On Loan: No      |
| McGraw-Hill Education Inc                                                   | MCGRAW-HILL EDUCATION INC                                           | CUSIP: 58063DAF0<br>LEI: 254900U6YJ9QZ4IQOR26 | Long             | LON              | CORP              | US        |    614849 | PA      | $616515.67    | 0.34%             | 2031-08-06      | Floating      | 7.58%                 | No            |                  2 | On Loan: No      |
| Invesco Senior Loan ETF                                                     | Invesco Senior Loan ETF                                             | CUSIP: 46138G508<br>LEI: 549300SIHU6DQELRNG59 | Long             | EC               | RF                | US        |     77095 | NS      | $1612827.40   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| ELLUCIAN HOLDING Inc                                                        | ELLUCIAN HOLDINGS INC                                               | CUSIP: 28917XAB6<br>LEI: 549300RP8NIJ7FY7OS79 | Long             | LON              | CORP              | US        |    670855 | PA      | $672115.86    | 0.37%             | 2029-10-09      | Floating      | 7.33%                 | No            |                  2 | On Loan: No      |
| Grant Thornton Advisors LLC                                                 | GRANT THORNTON ADVISORS                                             | CUSIP: 38821UAD2<br>LEI: 254900XS1SHU0YY3WF58 | Long             | LON              | CORP              | US        |    626380 | PA      | $625283.39    | 0.34%             | 2031-06-02      | Floating      | 7.08%                 | No            |                  2 | On Loan: No      |
| Eagle Broadband Investments LLC                                             | Eagle Broadband Investments LLC                                     | CUSIP: 26943PAB5<br>LEI: 254900W09ZHD1OM4I757 | Long             | LON              | CORP              | US        |   1142486 | PA      | $1136773.18   | 0.62%             | 2027-11-12      | Floating      | 6.58%                 | No            |                  2 | On Loan: No      |
| Kaman Corporation                                                           | KAMAN CORP                                                          | CUSIP: 000000000<br>LEI: 5493003YK076OLTEQF95 | Long             | LON              | CORP              | US        |     72587 | PA      | $72473.74     | 0.04%             | 2032-02-26      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| Ascend Learning LLC                                                         | ASCEND LEARNING LLC                                                 | CUSIP: 04349HAN4<br>LEI: 549300T466HKRLVCD610 | Long             | LON              | CORP              | US        |    795463 | PA      | $794969.33    | 0.43%             | 2028-12-11      | Floating      | 7.33%                 | No            |                  2 | On Loan: No      |
| PETSMART INC/PETSMART FI                                                    | PetSmart Inc / PetSmart Finance Corp                                | CUSIP: 71677KAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    280000 | PA      | $273041.82    | 0.15%             | 2028-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Icon Parent I Inc                                                           | ICON PARENT INC                                                     | CUSIP: 45115MAB4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    140000 | PA      | $141050.00    | 0.08%             | 2032-11-12      | Floating      | 9.21%                 | No            |                  2 | On Loan: No      |
| Lightstone HoldCo LLC                                                       | Lightstone Holdco LLC                                               | CUSIP: 53226GAL5<br>LEI: 549300VXK6UGDG7H3G98 | Long             | LON              | CORP              | US        |     44510 | PA      | $44456.86     | 0.02%             | 2027-01-29      | Floating      | 10.03%                | No            |                  2 | On Loan: No      |
| Truist Insurance Holdings, LLC                                              | TRUIST INSURANCE HOLDING                                            | CUSIP: 89788VAG7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    600000 | PA      | $599874.00    | 0.33%             | 2031-05-06      | Floating      | 7.05%                 | No            |                  2 | On Loan: No      |
| Astoria Energy LLC                                                          | ASTORIA ENERGY LLC                                                  | CUSIP: 04626LAJ8<br>LEI: 549300BXD26J7I0IPB62 | Long             | LON              | CORP              | US        |    540000 | PA      | $540000.00    | 0.29%             | 2032-06-16      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| DG Investment Intermediate Holdings 2 Inc                                   | DG INVESTMENT INTERMEDIATE HOLDINGS 2 INC                           | CUSIP: 23344MAK4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     34367 | PA      | $34195.15     | 0.02%             | 2028-03-31      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| Numericable U.S. LLC                                                        | Altice France SA/France                                             | CUSIP: 000000000<br>LEI: 5493001ZMCICV4N02J21 | Long             | LON              | CORP              | FR        |    570643 | PA      | $498885.00    | 0.27%             | 2026-01-31      | Floating      | 10.19%                | No            |                  2 | On Loan: No      |
| Virgin Media Bristol LLC                                                    | Virgin Media Bristol LLC                                            | CUSIP: 000000000<br>LEI: 213800IQ982XX69LE276 | Long             | LON              | CORP              | US        |   1215000 | PA      | $1198172.25   | 0.65%             | 2028-01-31      | Floating      | 6.93%                 | No            |                  2 | On Loan: No      |
| Alera Group Inc                                                             | ALERA GROUP INTERMEDIATE                                            | CUSIP: 000000000<br>LEI: 2549003D76KZAKICNX26 | Long             | LON              | CORP              | US        |    215000 | PA      | $218940.95    | 0.12%             | 2033-05-20      | Floating      | 9.83%                 | No            |                  2 | On Loan: No      |
| APPLIED SYSTEMS INC                                                         | APPLIED SYSTEMS INC                                                 | CUSIP: 03827FBC4<br>LEI: 549300NSKGF0SY5SWQ62 | Long             | LON              | CORP              | US        |     90000 | PA      | $92092.50     | 0.05%             | 2032-02-23      | Floating      | 8.83%                 | No            |                  2 | On Loan: No      |
| EOC Borrower LLC                                                            | ENDEAVOR OPERATING CO LLC                                           | CUSIP: 26875YAB8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    630000 | PA      | $630195.30    | 0.34%             | 2032-03-24      | Floating      | 7.33%                 | No            |                  2 | On Loan: No      |
| Cornerstone Building Brands Inc                                             | CORNERSTONE BUILDING                                                | CUSIP: 72431HAE0<br>LEI: 549300IW41QEWQ6T0H29 | Long             | LON              | CORP              | US        |    312851 | PA      | $264359.47    | 0.14%             | 2031-05-15      | Floating      | 8.81%                 | No            |                  2 | On Loan: No      |
| AlixPartners LLP                                                            | AlixPartners LLP                                                    | CUSIP: 01642PBB1<br>LEI: 5493005G2MHUFTGARL57 | Long             | LON              | CORP              | US        |    759156 | PA      | $761722.16    | 0.41%             | 2028-02-04      | Floating      | 6.94%                 | No            |                  2 | On Loan: No      |
| Harbor Freight Tools USA Inc                                                | HARBOR FREIGHT TOOLS USA INC                                        | CUSIP: 41151PAR6<br>LEI: 549300Y48HLCFTTB4249 | Long             | LON              | CORP              | US        |    703079 | PA      | $687259.74    | 0.37%             | 2031-06-11      | Floating      | 6.58%                 | No            |                  2 | On Loan: No      |
| Modivcare Inc                                                               | MODIVCARE INC                                                       | CUSIP: 60783LAC4<br>LEI: 549300EFZIFW7F7I0Q28 | Long             | LON              | CORP              | US        |    153839 | PA      | $111790.43    | 0.06%             | 2031-07-01      | Floating      | 4.30%                 | No            |                  2 | On Loan: No      |
| SEDGWICK CMS INC                                                            | SEDGWICK CMS INC                                                    | CUSIP: 81527CAP2<br>LEI: 549300BIN4DWJG5VWF64 | Long             | LON              | CORP              | US        |    733813 | PA      | $736109.93    | 0.40%             | 2031-07-31      | Floating      | 7.33%                 | No            |                  2 | On Loan: No      |
| SPDR Blackstone Senior Loan ETF                                             | SPDR Blackstone Senior Loan ETF                                     | CUSIP: 78467V608<br>LEI: 549300ME4SR63Y3TRD06 | Long             | EC               | PF                | US        |     26725 | NS      | $1111492.75   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| GRAY MEDIA INC                                                              | Gray Media Inc                                                      | CUSIP: 389284AA8<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |    320000 | PA      | $319856.70    | 0.17%             | 2027-05-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Pitney Bowes Inc                                                            | PITNEY BOWE 01/31/32                                                | CUSIP: 72448FAW5<br>LEI: 549300N2O26NW4ST6W55 | Long             | LON              | CORP              | US        |    658350 | PA      | $656427.62    | 0.36%             | 2032-03-19      | Floating      | 8.08%                 | No            |                  2 | On Loan: No      |
| Ontario Gaming Gta Ltd Partnership                                          | ONTARIO GAMING GTA LP                                               | CUSIP: 000000000<br>LEI: 894500EC9KLZLOC3V025 | Long             | LON              | CORP              | CA        |    875685 | PA      | $866104.81    | 0.47%             | 2030-08-01      | Floating      | 8.55%                 | No            |                  2 | On Loan: No      |
| NCR ATLEOS LLC                                                              | NCR Atleos Corp                                                     | CUSIP: 638962AA8<br>LEI: 9845005FC3S0VA714741 | Long             | DBT              | CORP              | US        |    334000 | PA      | $365851.24    | 0.20%             | 2029-04-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Genesys Cloud Services Holdings II LLC (f/k/a Greeneden US Holdings II LLC) | GENESYS CLOUD SERVICES                                              | CUSIP: 39479UAY9<br>LEI: 254900CRMBG6WX4HX396 | Long             | LON              | CORP              | US        |    668325 | PA      | $667830.44    | 0.36%             | 2032-01-30      | Floating      | 6.83%                 | No            |                  2 | On Loan: No      |
| ALBION FINANCING 1SARL /                                                    | Albion Financing 1 SARL / Aggreko Holdings Inc                      | CUSIP: 01330AAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    500000 | PA      | $510263.63    | 0.28%             | 2030-05-21      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Del Monte Foods, Inc                                                        | DEL MONTE FOODS CORP II INC                                         | CUSIP: 24521WAB5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    405618 | PA      | $364042.17    | 0.20%             | 2028-08-02      | Floating      | 12.47%                | No            |                  2 | On Loan: No      |
| BROWN GROUP HOLDING LLC                                                     | BROWN GROUP HOLDING LLC                                             | CUSIP: 11565HAB2<br>LEI: 25490094PF4HHK9QS109 | Long             | LON              | CORP              | US        |    902680 | PA      | $903311.38    | 0.49%             | 2031-07-01      | Floating      | 7.08%                 | No            |                  2 | On Loan: No      |
| Cogeco Communications Finance (USA) LP                                      | COGECO COMMUNICATIONS USA II LP                                     | CUSIP: 19239BAD0<br>LEI: 549300UVJTPYOZ6XKH79 | Long             | LON              | CORP              | US        |   1054017 | PA      | $1050728.86   | 0.57%             | 2030-09-18      | Floating      | 7.58%                 | No            |                  2 | On Loan: No      |
| Viant Medical Holdings Inc                                                  | VIANT MEDICAL HOLDINGS                                              | CUSIP: 000000000<br>LEI: 549300E68YOWU15QSF58 | Long             | LON              | CORP              | US        |    752019 | PA      | $744731.88    | 0.41%             | 2031-10-29      | Floating      | 8.33%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-25

**Name of Applicant:** Virtus Opportunities Trust

**Signature:** Amy Hackett

**Name of Signer:** Amy Hackett

**Title:** Vice President and Assistant Treasurer