# EDGAR Filing Document

**Accession Number:** 0001898391
**File Stem:** 0000035402-25-002986
**Filing Date:** 2025-12
**Character Count:** 89479
**Document Hash:** 836a3866a9a95e0d9e6aa3004dd32d7c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000035402-25-002986.hdr.sgml**: 20251223

**ACCESSION NUMBER**: 0000035402-25-002986

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251223

**DATE AS OF CHANGE**: 20251223

**PERIOD START**: 20260131

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Fidelity Greenwood Street Trust
- **CENTRAL INDEX KEY:** 0001898391

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0131

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23762
- **FILM NUMBER:** 251599951

**BUSINESS ADDRESS:**
- **STREET 1:** 245 SUMMER STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210
- **BUSINESS PHONE:** 617-563-7000

**MAIL ADDRESS:**
- **STREET 1:** 245 SUMMER STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210

## Series and Classes Contracts Data

### Fidelity SAI Convertible Arbitrage Fund (Series ID: S000081303)

| Class ID   | Class Name                              | Ticker Symbol   |
|:---|:---|:---|
| C000243999 | Fidelity SAI Convertible Arbitrage Fund | FSAWX           |

## Nport-Ex

**Quarterly Holdings Report**

**for**

**Fidelity® SAI Convertible Arbitrage Fund**

**October 31, 2025**

Offered exclusively to certain clients of the Adviser, or its affiliates, including Strategic Advisers LLC (Strategic Advisers) - not available for sale to the general public. Fidelity® SAI is a product name of Fidelity® funds dedicated to certain programs affiliated with Strategic Advisers.

SCA-NPRT3-1225

1.9909701.102 ---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Common Stocks - 19.0%** | &nbsp;&nbsp;**Common Stocks - 19.0%** | &nbsp;&nbsp;**Common Stocks - 19.0%** |
|  | Shares | Value ($)<br>|
| UNITED STATES - 19.0%  |  |  |
| Consumer Staples - 0.6% |  |  |
| Consumer Staples Distribution & Retail - 0.6% |  |  |
| Costco Wholesale Corp  | 6000 | 5468700 |
| Financials - 5.7% |  |  |
| Banks - 3.8% |  |  |
| Citigroup Inc  | 325000 | 32899750 |
| Capital Markets - 0.8% |  |  |
| Morgan Stanley  | 41700 | 6838800 |
| Financial Services - 1.1% |  |  |
| Mastercard Inc Class A  | 17600 | 9715024 |
| TOTAL FINANCIALS |  | 49453574 |
| Health Care - 0.8% |  |  |
| Biotechnology - 0.8% |  |  |
| AbbVie Inc  | 32000 | 6977280 |
| Information Technology - 11.9% |  |  |
| Semiconductors & Semiconductor Equipment - 7.1% |  |  |
| Broadcom Inc  | 75000 | 27722250 |
| NVIDIA Corp  | 160000 | 32398400 |
|  |  | 60120650 |
| Software - 2.2% |  |  |
| Microsoft Corp  | 24000 | 12427440 |
| Oracle Corp  | 25900 | 6801599 |
|  |  | 19229039 |
| Technology Hardware, Storage & Peripherals - 2.6% |  |  |
| Apple Inc  | 84000 | 22711080 |
| TOTAL INFORMATION TECHNOLOGY |  | 102060769 |
| TOTAL UNITED STATES |  | 163960323 |
| <br> **TOTAL COMMON STOCKS**<br> (Cost $125,648,717) |  | <br> **163960323** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Convertible Corporate Bonds - 41.9%** | &nbsp;&nbsp;**Convertible Corporate Bonds - 41.9%** | &nbsp;&nbsp;**Convertible Corporate Bonds - 41.9%** |
|  | Principal<br> Amount (a)<br>| Value ($)<br>|
| CANADA - 1.3%  |  |  |
| Energy - 1.3% |  |  |
| Oil, Gas & Consumable Fuels - 1.3% |  |  |
| Denison Mines Corp 4.25% 9/15/2031 (b) | 7500000 | 10816920 |
| NETHERLANDS - 0.4%  |  |  |
| Information Technology - 0.4% |  |  |
| Software - 0.4% |  |  |
| Nebius Group NV 2.75% 9/15/2032 (b) | 2800000 | 3564400 |
| UNITED STATES - 40.2%  |  |  |
| Communication Services - 2.6% |  |  |
| Interactive Media & Services - 0.6% |  |  |
| fuboTV Inc 3.25% 2/15/2026  | 5670000 | 5613300 |
| Media - 2.0% |  |  |
| Cable One Inc 0% 3/15/2026 (c) | 14921000 | 14533054 |
| DISH Network Corp 0% 12/15/2025 (c) | 2600000 | 2548000 |
|  |  | 17081054 |
| TOTAL COMMUNICATION SERVICES |  | 22694354 |
| Consumer Discretionary - 8.2% |  |  |
| Hotels, Restaurants & Leisure - 6.2% |  |  |
| Airbnb Inc 0% 3/15/2026 (c) | 21500000 | 21123750 |
| Cheesecake Factory Inc/The 2% 3/15/2030 (b) | 11861000 | 11659363 |
| Cracker Barrel Old Country Store Inc 1.75% 9/15/2030 (b) | 4225000 | 3447600 |
| Expedia Group Inc 0% 2/15/2026 (c) | 7500000 | 7590000 |
| Marriott Vacations Worldwide Corp 0% 1/15/2026 (c) | 10000000 | 9880000 |
|  |  | 53700713 |
| Leisure Products - 2.0% |  |  |
| Peloton Interactive Inc 0% 2/15/2026 (d) | 17700000 | 17301750 |
| TOTAL CONSUMER DISCRETIONARY |  | 71002463 |
| Energy - 0.3% |  |  |
| Oil, Gas & Consumable Fuels - 0.3% |  |  |
| Northern Oil & Gas Inc 3.625% 4/15/2029 (b) | 2500000 | 2422500 |
| Financials - 3.5% |  |  |
| Capital Markets - 1.3% |  |  |
| Coinbase Global Inc 0% 10/1/2032 (b)(c) | 9500000 | 10587750 |
| Galaxy Digital Holdings LP 3% 12/15/2026 (b) | 500000 | 644900 |
|  |  | 11232650 |
| Consumer Finance - 0.9% |  |  |
| Upstart Holdings Inc 0% 2/15/2032 (b)(c) | 10000000 | 8505000 |
| Financial Services - 1.3% |  |  |
| Euronet Worldwide Inc 0.625% 10/1/2030 (b) | 12020000 | 10908150 |
| TOTAL FINANCIALS |  | 30645800 |
| Health Care - 2.5% |  |  |
| Biotechnology - 0.5% |  |  |
| Cytokinetics Inc 1.75% 10/1/2031 (b) | 3920000 | 4855312 |
| Health Care Equipment & Supplies - 1.2% |  |  |
| Lantheus Holdings Inc 2.625% 12/15/2027  | 9500000 | 10526000 |
| Health Care Technology - 0.8% |  |  |
| Evolent Health Inc 4.5% 8/15/2031 (b) | 7200000 | 6592194 |
| TOTAL HEALTH CARE |  | 21973506 |
| Industrials - 11.7% |  |  |
| Aerospace & Defense - 0.6% |  |  |
| Axon Enterprise Inc 0.5% 12/15/2027  | 1500000 | 4798500 |
| Commercial Services & Supplies - 2.3% |  |  |
| Pitney Bowes Inc 1.5% 8/15/2030 (b) | 17500000 | 16852500 |
| Tetra Tech Inc 2.25% 8/15/2028  | 3000000 | 3186900 |
|  |  | 20039400 |
| Construction & Engineering - 5.6% |  |  |
| Granite Construction Inc 3.25% 6/15/2030  | 6000000 | 8742000 |
| Granite Construction Inc 3.75% 5/15/2028  | 17140000 | 38873521 |
|  |  | 47615521 |
| Electrical Equipment - 2.3% |  |  |
| Enovix Corp 4.75% 9/15/2030 (b) | 15000000 | 20175000 |
| Professional Services - 0.9% |  |  |
| Fiverr International Ltd 0% 11/1/2025 (c) | 8000000 | 7989976 |
| TOTAL INDUSTRIALS |  | 100618397 |
| Information Technology - 9.6% |  |  |
| Electronic Equipment, Instruments & Components - 0.6% |  |  |
| Advanced Energy Industries Inc 2.5% 9/15/2028  | 3500000 | 5587050 |
| IT Services - 1.6% |  |  |
| DigitalOcean Holdings Inc 0% 12/1/2026 (c) | 15000000 | 14182500 |
| Semiconductors & Semiconductor Equipment - 2.6% |  |  |
| MACOM Technology Solutions Holdings Inc 0.25% 3/15/2026  | 12100000 | 21798150 |
| Software - 4.8% |  |  |
| BlackLine Inc 1% 6/1/2029  | 5000000 | 5363000 |
| Box Inc 1.5% 9/15/2029  | 3000000 | 3024000 |
| Core Scientific Inc 3% 9/1/2029 (b) | 6880000 | 14633760 |
| RingCentral Inc 0% 3/15/2026 (d) | 6000000 | 5860800 |
| Uber Technologies Inc 0% 5/15/2028 (b)(c) | 6500000 | 6854250 |
| Unity Software Inc 0% 11/15/2026 (c) | 5172000 | 4923744 |
|  |  | 40659554 |
| TOTAL INFORMATION TECHNOLOGY |  | 82227254 |
| Utilities - 1.8% |  |  |
| Electric Utilities - 0.6% |  |  |
| Southern Co/The 3.25% 6/15/2028 (b) | 4950000 | 5036625 |
| Independent Power and Renewable Electricity Producers - 1.2% |  |  |
| XPLR Infrastructure LP 0% 11/15/2025 (b)(d) | 2000000 | 1995000 |
| XPLR Infrastructure LP 2.5% 6/15/2026 (b) | 8750000 | 8575000 |
|  |  | 10570000 |
| TOTAL UTILITIES |  | 15606625 |
| TOTAL UNITED STATES |  | 347190899 |
| <br> **TOTAL CONVERTIBLE CORPORATE BONDS**<br> (Cost $339,879,354) |  | <br> **361572219** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Domestic Equity Funds - 4.2%** | &nbsp;&nbsp;**Domestic Equity Funds - 4.2%** | &nbsp;&nbsp;**Domestic Equity Funds - 4.2%** |
|  | Shares | Value ($)<br>|
| Financial Select Sector SPDR ETF  | 438300 | 22953771 |
| iShares Core S&P 500 ETF  | 20700 | 14184261 |
| <br> **TOTAL DOMESTIC EQUITY FUNDS**<br> (Cost $33,589,856) |  | **37138032** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**U.S. Treasury Obligations - 28.3%** | &nbsp;&nbsp;**U.S. Treasury Obligations - 28.3%** | &nbsp;&nbsp;**U.S. Treasury Obligations - 28.3%** | &nbsp;&nbsp;**U.S. Treasury Obligations - 28.3%** |
|  | Yield (%) (e) | Principal<br> Amount (a)<br>| Value ($)<br>|
| US Treasury Bills 0% 1/8/2026 (f) | 3.88 | 75000000 | 74479906 |
| US Treasury Bills 0% 11/4/2025 (f) | 4.29 | 85000000 | 84990977 |
| US Treasury Bills 0% 12/9/2025 (f)(g) | 4.11 | 85000000 | 84672300 |
| <br> **TOTAL U.S. TREASURY OBLIGATIONS**<br> (Cost $244,061,489) |  |  | **244143183** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 6.7%** | &nbsp;&nbsp;**Money Market Funds - 6.7%** | &nbsp;&nbsp;**Money Market Funds - 6.7%** | &nbsp;&nbsp;**Money Market Funds - 6.7%** |
|  | Yield (%) | Shares | Value ($)<br>|
| Fidelity Cash Central Fund (h)<br>(Cost $57,607,981)<br>| 4.18 | 57596462 | **57607981** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 100.1%**<br> (Cost $800,787,397)<br>| <br>**864421738** |
| **NET OTHER ASSETS (LIABILITIES) - (0.1)%**  | **(538364)** |
| **NET ASSETS - 100.0%** | **863883374** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Futures Contracts**  | &nbsp;&nbsp;**Futures Contracts**  | &nbsp;&nbsp;**Futures Contracts**  | &nbsp;&nbsp;**Futures Contracts**  | &nbsp;&nbsp;**Futures Contracts**  | &nbsp;&nbsp;**Futures Contracts**  |
|  | Number <br> of contracts | Expiration <br> Date | Notional <br> Amount ($)<br>| Value ($)<br>| Unrealized<br> Appreciation/<br> (Depreciation) ($)<br>|
| Sold |  |  |  |  |  |
| Interest Rate Contracts |  |  |  |  |  |
| CBOT 2Y US Treasury Notes Contracts (United States) | 705 | 12/31/2025 | 146843789 | (67308) | (67308) |
| CBOT 5Y US Treasury Notes Contracts (United States) | 651 | 12/31/2025 | 71131922 | (199470) | (199470) |
| **TOTAL FUTURES CONTRACTS** |  |  |  |  | **(266778)** |
| The notional amount of futures sold as a percentage of Net Assets is 25.2% | The notional amount of futures sold as a percentage of Net Assets is 25.2% | The notional amount of futures sold as a percentage of Net Assets is 25.2% | The notional amount of futures sold as a percentage of Net Assets is 25.2% | The notional amount of futures sold as a percentage of Net Assets is 25.2% | The notional amount of futures sold as a percentage of Net Assets is 25.2% |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Total Return Swaps** | **Total Return Swaps** | **Total Return Swaps** | **Total Return Swaps** | **Total Return Swaps** | **Total Return Swaps** | **Total Return Swaps** |
| Underlying Reference | Counterparty | Maturity Date | Absolute Notional Value<br> ($)  | Unrealized <br> Appreciation/<br> (Depreciation) ($) <br>| Net Cash and Other Receivables/<br> (Payables) ($) | Value ($) <br>|
| The Fund receives the total return on a portfolio of long and short positions and pays or receives the U.S. SOFR Index ranging from 4.04% to 4.27% plus or minus a specified spread ranging from (0.5)% to 0.55% , which is denominated in U.S. dollars based on the local currencies of the positions within the swap | Bank of Montreal | Oct 2026 | 1823980128 | 491711 | (269858) | 221853 |
| The following table represents disclosures associated with the underlying components of the total return basket swap at period end, and percentages shown are based on total swap value. | The following table represents disclosures associated with the underlying components of the total return basket swap at period end, and percentages shown are based on total swap value. | The following table represents disclosures associated with the underlying components of the total return basket swap at period end, and percentages shown are based on total swap value. | The following table represents disclosures associated with the underlying components of the total return basket swap at period end, and percentages shown are based on total swap value. | The following table represents disclosures associated with the underlying components of the total return basket swap at period end, and percentages shown are based on total swap value. | The following table represents disclosures associated with the underlying components of the total return basket swap at period end, and percentages shown are based on total swap value. | The following table represents disclosures associated with the underlying components of the total return basket swap at period end, and percentages shown are based on total swap value. |
| Reference Entity |  |  |  | Shares/Principal<br> Amount (a)<br>| Notional Value ($)<br>| Unrealized <br> Appreciation/<br> (Depreciation) ($) |
| **LONG** | **LONG** | **LONG** | **LONG** | **LONG** | **LONG** | **LONG** |
|  **Common Stocks** |  |  |  |  |  |  |
| UNITED STATES -0.0%  |  |  |  |  |  |  |
| **Consumer Discretionary - 0.0%**  |  |  |  |  |  |  |
| **Specialty Retail - 0.0%**  |  |  |  |  |  |  |
| GameStop Corp warrants 10/30/2026 (1)  |  |  |  | 24047 | 72141 | 0 |
| TOTAL CONSUMER DISCRETIONARY |  |  |  |  | 72141 | 0 |
| TOTAL UNITED STATES |  |  |  |  | 72141 | 0 |
|  **Convertible Corporate Bonds** |  |  |  |  |  |  |
| UNITED STATES -7972.6%  |  |  |  |  |  |  |
| **Communication Services - (1432.5)%**  |  |  |  |  |  |  |
| **Entertainment - (1352.2)%**  |  |  |  |  |  |  |
| Liberty Media Corp-Liberty Formula One 2.25% 8/15/2027  |  |  |  | 161500 | 20742656 | (548898) |
| Liberty Media Corp 2.375% 9/30/2053 (2)  |  |  |  | 152500 | 22923451 | (873344) |
| Spotify USA Inc 0% 3/15/2026  |  |  |  | 225000 | 29013750 | (1067175) |
| Live Nation Entertainment Inc 3.125% 1/15/2029  |  |  |  | 100000 | 15177750 | (510443) |
|  |  |  |  |  | 87857607 | (2999860) |
| **Interactive Media & Services - (72.0)%**  |  |  |  |  |  |  |
| Match Group Financeco 3 Inc 2% 1/15/2030 (2)  |  |  |  | 265000 | 24075250 | (111159) |
| Snap Inc 0.5% 5/1/2030  |  |  |  | 100000 | 8650278 | (48489) |
|  |  |  |  |  | 32725528 | (159648) |
| **Media - (8.3)%**  |  |  |  |  |  |  |
| Cable One Inc 0% 3/15/2026  |  |  |  | 30000 | 2922000 | (18453) |
| TOTAL COMMUNICATION SERVICES |  |  |  |  | 123505135 | (3177961) |
| **Utilities - (201.7)%**  |  |  |  |  |  |  |
| **Multi-Utilities - (200.9)%**  |  |  |  |  |  |  |
| WEC Energy Group Inc 4.375% 6/1/2029  |  |  |  | 125000 | 15362153 | (445675) |
| **Electric Utilities - (123.3)%**  |  |  |  |  |  |  |
| Southern Co/The 3.875% 12/15/2025  |  |  |  | 45000 | 5106844 | (273538) |
| **Gas Utilities - 122.5%**  |  |  |  |  |  |  |
| UGI Corp 5% 6/1/2028  |  |  |  | 90000 | 11711800 | 271720 |
| TOTAL UTILITIES |  |  |  |  | 32180797 | (447493) |
| **Health Care - 134.2%**  |  |  |  |  |  |  |
| **Biotechnology - 45.2%**  |  |  |  |  |  |  |
| Exact Sciences Corp 2% 3/1/2030 (2)  |  |  |  | 135000 | 15170550 | 480930 |
| Mirum Pharmaceuticals Inc 4% 5/1/2029  |  |  |  | 20000 | 4769444 | (276222) |
| Halozyme Therapeutics Inc 1% 8/15/2028  |  |  |  | 60000 | 7882000 | (104417) |
|  |  |  |  |  | 27821994 | 100291 |
| **Health Care Equipment & Supplies - 7.8%**  |  |  |  |  |  |  |
| Dexcom Inc 0.25% 11/15/2025  |  |  |  | 75000 | 7491500 | 17385 |
| **Pharmaceuticals - 81.2%**  |  |  |  |  |  |  |
| BofA Finance LLC 0.6% 5/25/2027  |  |  |  | 235000 | 23362133 | 25270 |
| Jazz Investments I Ltd 2% 6/15/2026  |  |  |  | 52500 | 5668250 | (38039) |
| Ligand Pharmaceuticals Inc 0.75% 10/1/2030 (2)  |  |  |  | 110400 | 12951952 | 192789 |
|  |  |  |  |  | 41982335 | 180020 |
| TOTAL HEALTH CARE |  |  |  |  | 77295829 | 297696 |
| **Energy - (2759.1)%**  |  |  |  |  |  |  |
| **Oil, Gas & Consumable Fuels - (2759.1)%**  |  |  |  |  |  |  |
| Peabody Energy Corp 3.25% 3/1/2028  |  |  |  | 25000 | 3885243 | (659288) |
| Centrus Energy Corp 2.25% 11/1/2030 (2)  |  |  |  | 32500 | 12513556 | (2078009) |
| Centrus Energy Corp 0% 8/15/2032 (2)  |  |  |  | 230000 | 40859500 | (3280735) |
| Green Plains Inc 2.25% 3/15/2027  |  |  |  | 50000 | 4805000 | (103108) |
|  |  |  |  |  | 62063299 | (6121140) |
| TOTAL ENERGY |  |  |  |  | 62063299 | (6121140) |
| **Consumer Staples - (116.0)%**  |  |  |  |  |  |  |
| **Consumer Staples Distribution & Retail - 2.8%**  |  |  |  |  |  |  |
| Chefs' Warehouse Inc/The 2.375% 12/15/2028  |  |  |  | 110000 | 16305346 | 6287 |
| **Food Products - (118.8)%**  |  |  |  |  |  |  |
| Freshpet Inc 3% 4/1/2028  |  |  |  | 140000 | 15262333 | (263527) |
| TOTAL CONSUMER STAPLES |  |  |  |  | 31567679 | (257240) |
| **Real Estate - 604.1%**  |  |  |  |  |  |  |
| **Health Care REITs - 604.1%**  |  |  |  |  |  |  |
| Ventas Realty LP 3.75% 6/1/2026  |  |  |  | 65000 | 8890917 | 568885 |
| Welltower OP LLC 2.75% 5/15/2028 (2)  |  |  |  | 90000 | 17256000 | 771468 |
|  |  |  |  |  | 26146917 | 1340353 |
| TOTAL REAL ESTATE |  |  |  |  | 26146917 | 1340353 |
| **Materials - (4525.7)%**  |  |  |  |  |  |  |
| **Metals & Mining - (4525.7)%**  |  |  |  |  |  |  |
| Century Aluminum Co 2.75% 5/1/2028  |  |  |  | 37500 | 6152448 | (514318) |
| MP Materials Corp 3% 3/1/2030 (2)  |  |  |  | 81000 | 24532200 | (9526353) |
|  |  |  |  |  | 30684648 | (10040671) |
| TOTAL MATERIALS |  |  |  |  | 30684648 | (10040671) |
| **Financials - (2039.3)%**  |  |  |  |  |  |  |
| **Capital Markets - (1899.7)%**  |  |  |  |  |  |  |
| Galaxy Digital Holdings LP 0.5% 5/1/2031 (2)  |  |  |  | 225000 | 22186250 | (1150750) |
| Coinbase Global Inc 0.25% 4/1/2030  |  |  |  | 100000 | 12732222 | 160181 |
| Galaxy Digital Holdings LP 2.5% 12/1/2029 (2)  |  |  |  | 37500 | 6563229 | (794094) |
| Galaxy Digital Holdings LP 3% 12/15/2026 (2)  |  |  |  | 250000 | 32532500 | (2430000) |
|  |  |  |  |  | 74014201 | (4214663) |
| **Financial Services - (139.6)%**  |  |  |  |  |  |  |
| Global Payments Inc 1.5% 3/1/2031  |  |  |  | 115000 | 10402708 | (309603) |
| TOTAL FINANCIALS |  |  |  |  | 84416909 | (4524266) |
| **Industrials - 77.7%**  |  |  |  |  |  |  |
| **Commercial Services & Supplies - 5.3%**  |  |  |  |  |  |  |
| Tetra Tech Inc 2.25% 8/15/2028  |  |  |  | 153000 | 16327778 | 11743 |
| **Ground Transportation - 276.3%**  |  |  |  |  |  |  |
| Uber Technologies Inc 0.875% 12/1/2028  |  |  |  | 165000 | 24084958 | 355793 |
| Lyft Inc 0.625% 3/1/2029  |  |  |  | 200000 | 24781528 | 257103 |
|  |  |  |  |  | 48866486 | 612896 |
| **Construction & Engineering - (208.2)%**  |  |  |  |  |  |  |
| Fluor Corp 1.125% 8/15/2029  |  |  |  | 185000 | 23854594 | (461922) |
| **Machinery - 4.3%**  |  |  |  |  |  |  |
| JBT Marel Corp 0.25% 5/15/2026  |  |  |  | 71000 | 7086983 | 9479 |
| TOTAL INDUSTRIALS |  |  |  |  | 96135841 | 172196 |
| **Consumer Discretionary - (686.2)%**  |  |  |  |  |  |  |
| **Hotels, Restaurants & Leisure - (708.1)%**  |  |  |  |  |  |  |
| Cracker Barrel Old Country Store Inc 1.75% 9/15/2030 (2)  |  |  |  | 125000 | 10285069 | (948095) |
| DraftKings Holdings Inc 0% 3/15/2028  |  |  |  | 217500 | 19346625 | (158123) |
| DoorDash Inc 0% 5/15/2030 (2)  |  |  |  | 100000 | 11040000 | (374200) |
| Airbnb Inc 0% 3/15/2026  |  |  |  | 75000 | 7368750 | 25718 |
| Marriott Vacations Worldwide Corp 3.25% 12/15/2027  |  |  |  | 125000 | 12018229 | (116341) |
|  |  |  |  |  | 60058673 | (1571041) |
| **Specialty Retail - (311.7)%**  |  |  |  |  |  |  |
| Burlington Stores Inc 1.25% 12/15/2027  |  |  |  | 95000 | 13611521 | (155322) |
| GameStop Corp 0% 4/1/2030 (2)  |  |  |  | 235000 | 24169750 | (536270) |
|  |  |  |  |  | 37781271 | (691592) |
| **Broadline Retail - 5.6%**  |  |  |  |  |  |  |
| Etsy Inc 0.125% 9/1/2027  |  |  |  | 55000 | 5079250 | 12375 |
| **Automobiles - 328.0%**  |  |  |  |  |  |  |
| Ford Motor Co 0% 3/15/2026  |  |  |  | 215000 | 22499750 | 727775 |
| TOTAL CONSUMER DISCRETIONARY |  |  |  |  | 125418944 | (1522483) |
| **Information Technology - 18917.1%**  |  |  |  |  |  |  |
| **Semiconductors & Semiconductor Equipment - (1.5)%**  |  |  |  |  |  |  |
| Penguin Solutions Inc 2% 8/15/2030  |  |  |  | 82500 | 9090125 | 21404 |
| Microchip Technology Inc 0.75% 6/1/2030  |  |  |  | 90000 | 8785500 | 5753 |
| ON Semiconductor Corp 0% 5/1/2027  |  |  |  | 120000 | 13890000 | (30480) |
|  |  |  |  |  | 31765625 | (3323) |
| **Electronic Equipment, Instruments & Components - (339.2)%**  |  |  |  |  |  |  |
| Itron Inc 1.375% 7/15/2030  |  |  |  | 45000 | 4653563 | (752564) |
| **Software - 185.2%**  |  |  |  |  |  |  |
| Commvault Systems Inc 0% 9/15/2030 (2)  |  |  |  | 45000 | 4099500 | (338063) |
| BlackLine Inc 1% 6/1/2029  |  |  |  | 100000 | 10768222 | 638333 |
| Vertex Inc 0.75% 5/1/2029  |  |  |  | 47200 | 4696597 | (118216) |
| CyberArk Software Ltd 0% 6/15/2030 (2)  |  |  |  | 115000 | 13409000 | 329989 |
| Box Inc 1.5% 9/15/2029  |  |  |  | 95000 | 9595000 | (70411) |
| Progress Software Corp 1% 4/15/2026  |  |  |  | 55000 | 5458750 | (30606) |
|  |  |  |  |  | 48027069 | 411026 |
| **Communications Equipment - 3348.0%**  |  |  |  |  |  |  |
| Lumentum Holdings Inc 1.5% 12/15/2029  |  |  |  | 122920 | 36393539 | 7427912 |
| **IT Services - 2383.0%**  |  |  |  |  |  |  |
| Okta Inc 0.375% 6/15/2026  |  |  |  | 96500 | 9393672 | (3684) |
| Akamai Technologies Inc 1.125% 2/15/2029  |  |  |  | 320000 | 30302000 | 334504 |
| Snowflake Inc 0% 10/1/2029  |  |  |  | 275000 | 50668750 | 4757720 |
| Akamai Technologies Inc 0.375% 9/1/2027  |  |  |  | 200000 | 19252917 | 198382 |
|  |  |  |  |  | 109617339 | 5286922 |
| **Technology Hardware, Storage & Peripherals - 13341.6%**  |  |  |  |  |  |  |
| Seagate HDD Cayman 3.5% 6/1/2028  |  |  |  | 150000 | 47047917 | 6557292 |
| Western Digital Corp 3% 11/15/2028  |  |  |  | 290000 | 116551000 | 23042143 |
|  |  |  |  |  | 163598917 | 29599435 |
| TOTAL INFORMATION TECHNOLOGY |  |  |  |  | 394056052 | 41969408 |
| TOTAL UNITED STATES |  |  |  |  | 1083472050 | 17688399 |
| CHINA -46.2%  |  |  |  |  |  |  |
| **Consumer Discretionary - 46.2%**  |  |  |  |  |  |  |
| **Broadline Retail - 46.2%**  |  |  |  |  |  |  |
| Alibaba Group Holding Ltd 0% 9/15/2032 (3)  |  |  |  | 100000 | 11240000 | 102500 |
| TOTAL CONSUMER DISCRETIONARY |  |  |  |  | 11240000 | 102500 |
| TOTAL CHINA |  |  |  |  | 11240000 | 102500 |
| NETHERLANDS -28.0%  |  |  |  |  |  |  |
| **Information Technology - 28.0%**  |  |  |  |  |  |  |
| **Software - 28.0%**  |  |  |  |  |  |  |
| Nebius Group NV 2.75% 9/15/2032 (2)  |  |  |  | 47000 | 6000333 | 62174 |
| TOTAL INFORMATION TECHNOLOGY |  |  |  |  | 6000333 | 62174 |
| TOTAL NETHERLANDS |  |  |  |  | 6000333 | 62174 |
| INDIA -(237.7)%  |  |  |  |  |  |  |
| **Consumer Discretionary - (237.7)%**  |  |  |  |  |  |  |
| **Hotels, Restaurants & Leisure - (237.7)%**  |  |  |  |  |  |  |
| MakeMyTrip Ltd 0% 2/15/2028  |  |  |  | 20000 | 4192000 | (527420) |
| TOTAL CONSUMER DISCRETIONARY |  |  |  |  | 4192000 | (527420) |
| TOTAL INDIA |  |  |  |  | 4192000 | (527420) |
| DENMARK -(99.5)%  |  |  |  |  |  |  |
| **Health Care - (99.5)%**  |  |  |  |  |  |  |
| **Biotechnology - (99.5)%**  |  |  |  |  |  |  |
| Ascendis Pharma A/S 2.25% 4/1/2028  |  |  |  | 75000 | 10305000 | (220856) |
| TOTAL HEALTH CARE |  |  |  |  | 10305000 | (220856) |
| TOTAL DENMARK |  |  |  |  | 10305000 | (220856) |
| <br> **TOTAL CONVERTIBLE CORPORATE BONDS** |  |  |  |  | **1115209383** | <br> **17104797** |
| **TOTAL LONG** |  |  |  |  | **1115281524** | **17104797** |
| **SHORT** | **SHORT** | **SHORT** | **SHORT** | **SHORT** | **SHORT** | **SHORT** |
|  **Common Stocks** |  |  |  |  |  |  |
| CANADA -(4.4)%  |  |  |  |  |  |  |
| **Energy - (4.4)%**  |  |  |  |  |  |  |
| **Oil, Gas & Consumable Fuels - (4.4)%**  |  |  |  |  |  |  |
| Denison Mines Corp (1)  |  |  |  | (150000) | (475500) | (9750) |
| TOTAL ENERGY |  |  |  |  | (475500) | (9750) |
| TOTAL CANADA |  |  |  |  | (475500) | (9750) |
| UNITED STATES -(7636.7)%  |  |  |  |  |  |  |
| **Communication Services - 1055.5%**  |  |  |  |  |  |  |
| **Entertainment - 1025.1%**  |  |  |  |  |  |  |
| Liberty Media Corp-Liberty Formula One Class C (1)  |  |  |  | (132559) | (13236016) | 493119 |
| Live Nation Entertainment Inc (1)  |  |  |  | (205400) | (30713462) | 1170780 |
| Spotify Technology SA (1)  |  |  |  | (38200) | (25033224) | 610436 |
|  |  |  |  |  | (68982702) | 2274335 |
| **Interactive Media & Services - 30.4%**  |  |  |  |  |  |  |
| Match Group Inc  |  |  |  | (88800) | (2871792) | 42504 |
| Snap Inc Class A (1)  |  |  |  | (224900) | (1754220) | 24739 |
|  |  |  |  |  | (4626012) | 67243 |
| TOTAL COMMUNICATION SERVICES |  |  |  |  | (73608714) | 2341578 |
| **Utilities - 297.0%**  |  |  |  |  |  |  |
| **Multi-Utilities - 220.1%**  |  |  |  |  |  |  |
| WEC Energy Group Inc  |  |  |  | (88000) | (9832240) | 488400 |
| **Electric Utilities - 174.1%**  |  |  |  |  |  |  |
| Southern Co/The  |  |  |  | (68000) | (6394720) | 386240 |
| **Gas Utilities - (97.2)%**  |  |  |  |  |  |  |
| UGI Corp  |  |  |  | (247800) | (8283954) | (215586) |
| TOTAL UTILITIES |  |  |  |  | (24510914) | 659054 |
| **Health Care - (198.5)%**  |  |  |  |  |  |  |
| **Biotechnology - (32.3)%**  |  |  |  |  |  |  |
| Exact Sciences Corp (1)  |  |  |  | (90000) | (5822100) | (369900) |
| Mirum Pharmaceuticals Inc (1)  |  |  |  | (56800) | (4126520) | 201072 |
| Halozyme Therapeutics Inc (1)  |  |  |  | (83000) | (5410770) | 97110 |
|  |  |  |  |  | (15359390) | (71718) |
| **Pharmaceuticals - (166.2)%**  |  |  |  |  |  |  |
| Merck & Co Inc  |  |  |  | (75000) | (6448500) | (140250) |
| Jazz Pharmaceuticals PLC (1)  |  |  |  | (10000) | (1376400) | (18400) |
| Ligand Pharmaceuticals Inc (1)  |  |  |  | (39600) | (7575876) | (210036) |
|  |  |  |  |  | (15400776) | (368686) |
| TOTAL HEALTH CARE |  |  |  |  | (30760166) | (440404) |
| **Energy - 2638.8%**  |  |  |  |  |  |  |
| **Oil, Gas & Consumable Fuels - 2638.8%**  |  |  |  |  |  |  |
| Peabody Energy Corp  |  |  |  | (117000) | (3208140) | 644670 |
| Green Plains Inc (1)  |  |  |  | (55000) | (565400) | 84700 |
| Centrus Energy Corp Class A (1)  |  |  |  | (120500) | (44278930) | 5124883 |
|  |  |  |  |  | (48052470) | 5854253 |
| TOTAL ENERGY |  |  |  |  | (48052470) | 5854253 |
| **Consumer Staples - 126.6%**  |  |  |  |  |  |  |
| **Consumer Staples Distribution & Retail - 13.7%**  |  |  |  |  |  |  |
| Chefs' Warehouse Inc/The (1)  |  |  |  | (202400) | (11941600) | 30360 |
| **Food Products - 112.9%**  |  |  |  |  |  |  |
| Freshpet Inc (1)  |  |  |  | (107000) | (5265470) | 250380 |
| TOTAL CONSUMER STAPLES |  |  |  |  | (17207070) | 280740 |
| **Real Estate - (576.7)%**  |  |  |  |  |  |  |
| **Health Care REITs - (576.7)%**  |  |  |  |  |  |  |
| Ventas Inc  |  |  |  | (99900) | (7371621) | (489510) |
| Welltower Inc  |  |  |  | (90800) | (16438432) | (789960) |
|  |  |  |  |  | (23810053) | (1279470) |
| TOTAL REAL ESTATE |  |  |  |  | (23810053) | (1279470) |
| **Financials - 1396.8%**  |  |  |  |  |  |  |
| **Capital Markets - 1262.4%**  |  |  |  |  |  |  |
| Coinbase Global Inc Class A (1)  |  |  |  | (23700) | (8147586) | (177276) |
| Galaxy Digital Inc Class A  |  |  |  | (560504) | (19623245) | 2978091 |
|  |  |  |  |  | (27770831) | 2800815 |
| **Financial Services - 134.4%**  |  |  |  |  |  |  |
| Global Payments Inc  |  |  |  | (29300) | (2278368) | 298274 |
| TOTAL FINANCIALS |  |  |  |  | (30049199) | 3099089 |
| **Materials - 4586.8%**  |  |  |  |  |  |  |
| **Metals & Mining - 4586.8%**  |  |  |  |  |  |  |
| MP Materials Corp (1)  |  |  |  | (360000) | (22712400) | 9633600 |
| Century Aluminum Co (1)  |  |  |  | (180000) | (5331600) | 542689 |
|  |  |  |  |  | (28044000) | 10176289 |
| TOTAL MATERIALS |  |  |  |  | (28044000) | 10176289 |
| **Industrials - 572.0%**  |  |  |  |  |  |  |
| **Commercial Services & Supplies - 555.4%**  |  |  |  |  |  |  |
| Pitney Bowes Inc  |  |  |  | (785700) | (7762716) | 1076409 |
| Tetra Tech Inc  |  |  |  | (299300) | (9571614) | 155636 |
|  |  |  |  |  | (17334330) | 1232045 |
| **Ground Transportation - (287.6)%**  |  |  |  |  |  |  |
| Lyft Inc Class A (1)  |  |  |  | (660000) | (13503600) | (303600) |
| Uber Technologies Inc (1)  |  |  |  | (169000) | (16308500) | (334620) |
|  |  |  |  |  | (29812100) | (638220) |
| **Construction & Engineering - 244.2%**  |  |  |  |  |  |  |
| Fluor Corp (1)  |  |  |  | (281571) | (13732218) | 541877 |
| **Machinery - 60.0%**  |  |  |  |  |  |  |
| JBT Marel Corp  |  |  |  | (12500) | (1576250) | 133125 |
| TOTAL INDUSTRIALS |  |  |  |  | (62454898) | 1268827 |
| **Consumer Discretionary - 920.7%**  |  |  |  |  |  |  |
| **Hotels, Restaurants & Leisure - 907.8%**  |  |  |  |  |  |  |
| Cheesecake Factory Inc/The  |  |  |  | (50700) | (2524860) | 234234 |
| Cracker Barrel Old Country Store Inc  |  |  |  | (146600) | (4940420) | 1056986 |
| Marriott Vacations Worldwide Corp  |  |  |  | (8000) | (527840) | 2720 |
| DraftKings Inc Class A (1)  |  |  |  | (57500) | (1758925) | 282325 |
| DoorDash Inc Class A (1)  |  |  |  | (24000) | (6104880) | 437760 |
|  |  |  |  |  | (15856925) | 2014025 |
| **Specialty Retail - 358.5%**  |  |  |  |  |  |  |
| GameStop Corp Class A (1)  |  |  |  | (546700) | (12185943) | 595903 |
| Burlington Stores Inc (1)  |  |  |  | (37000) | (10122830) | 199430 |
|  |  |  |  |  | (22308773) | 795333 |
| **Broadline Retail - 11.8%**  |  |  |  |  |  |  |
| Etsy Inc (1)  |  |  |  | (3000) | (186000) | 26100 |
| **Automobiles - (357.4)%**  |  |  |  |  |  |  |
| Ford Motor Co  |  |  |  | (720800) | (9464104) | (792991) |
| TOTAL CONSUMER DISCRETIONARY |  |  |  |  | (47815802) | 2042467 |
| **Information Technology - (18455.7)%**  |  |  |  |  |  |  |
| **Semiconductors & Semiconductor Equipment - (592.4)%**  |  |  |  |  |  |  |
| Microchip Technology Inc  |  |  |  | (22000) | (1373240) | 61380 |
| ON Semiconductor Corp (1)  |  |  |  | (125700) | (6295056) | 35196 |
| Penguin Solutions Inc (1)  |  |  |  | (212100) | (4723467) | 80598 |
| MACOM Technology Solutions Holdings Inc (1)  |  |  |  | (132000) | (19553160) | (1491600) |
|  |  |  |  |  | (31944923) | (1314426) |
| **Electronic Equipment, Instruments & Components - 364.2%**  |  |  |  |  |  |  |
| Itron Inc (1)  |  |  |  | (24200) | (2427986) | 808038 |
| **Software - (115.2)%**  |  |  |  |  |  |  |
| CyberArk Software Ltd (1)  |  |  |  | (16100) | (8384558) | (328013) |
| BlackLine Inc (1)  |  |  |  | (84700) | (4849075) | (651343) |
| Commvault Systems Inc (1)  |  |  |  | (11600) | (1614952) | 354496 |
| Box Inc Class A (1)  |  |  |  | (124600) | (3998414) | 79744 |
| Progress Software Corp (1)  |  |  |  | (40000) | (1705600) | 126600 |
| Vertex Inc Class A (1)  |  |  |  | (90000) | (2061000) | 162900 |
|  |  |  |  |  | (22613599) | (255616) |
| **Communications Equipment - (3190.5)%**  |  |  |  |  |  |  |
| Lumentum Holdings Inc (1)  |  |  |  | (167000) | (33660520) | (7078425) |
| **Technology Hardware, Storage & Peripherals - (12698.0)%**  |  |  |  |  |  |  |
| Western Digital Corp  |  |  |  | (751400) | (112867794) | (22182846) |
| Seagate Technology Holdings PLC  |  |  |  | (171400) | (43857832) | (5988559) |
|  |  |  |  |  | (156725626) | (28171405) |
| **IT Services - (2223.8)%**  |  |  |  |  |  |  |
| Snowflake Inc (1)  |  |  |  | (148400) | (40792192) | (4723572) |
| Akamai Technologies Inc (1)  |  |  |  | (140300) | (10536530) | (200629) |
| Okta Inc Class A (1)  |  |  |  | (3000) | (274590) | (9540) |
|  |  |  |  |  | (51603312) | (4933741) |
| TOTAL INFORMATION TECHNOLOGY |  |  |  |  | (298975966) | (40945575) |
| TOTAL UNITED STATES |  |  |  |  | (685289252) | (16943152) |
| CHINA -(65.8)%  |  |  |  |  |  |  |
| **Consumer Discretionary - (65.8)%**  |  |  |  |  |  |  |
| **Broadline Retail - (65.8)%**  |  |  |  |  |  |  |
| Alibaba Group Holding Ltd ADR  |  |  |  | (38800) | (6612684) | (145888) |
| TOTAL CONSUMER DISCRETIONARY |  |  |  |  | (6612684) | (145888) |
| TOTAL CHINA |  |  |  |  | (6612684) | (145888) |
| NETHERLANDS -(95.4)%  |  |  |  |  |  |  |
| **Information Technology - (95.4)%**  |  |  |  |  |  |  |
| **Software - (95.4)%**  |  |  |  |  |  |  |
| Nebius Group NV Class A (1)  |  |  |  | (42400) | (5546768) | (211576) |
| TOTAL INFORMATION TECHNOLOGY |  |  |  |  | (5546768) | (211576) |
| TOTAL NETHERLANDS |  |  |  |  | (5546768) | (211576) |
| INDIA -229.7%  |  |  |  |  |  |  |
| **Consumer Discretionary - 229.7%**  |  |  |  |  |  |  |
| **Hotels, Restaurants & Leisure - 229.7%**  |  |  |  |  |  |  |
| MakeMyTrip Ltd (1)  |  |  |  | (49000) | (3920000) | 509600 |
| TOTAL CONSUMER DISCRETIONARY |  |  |  |  | (3920000) | 509600 |
| TOTAL INDIA |  |  |  |  | (3920000) | 509600 |
| DENMARK -84.6%  |  |  |  |  |  |  |
| **Health Care - 84.6%**  |  |  |  |  |  |  |
| **Biotechnology - 84.6%**  |  |  |  |  |  |  |
| Ascendis Pharma A/S ADR (1)  |  |  |  | (34000) | (6854400) | 187680 |
| TOTAL HEALTH CARE |  |  |  |  | (6854400) | 187680 |
| TOTAL DENMARK |  |  |  |  | (6854400) | 187680 |
| <br> **TOTAL COMMON STOCKS** |  |  |  |  | **(708698604)** | <br> **(16613086)** |
| **TOTAL SHORT** |  |  |  |  | **(708698604)** | **(16613086)** |
| **TOTAL SWAP COMPONENTS** |  |  |  |  | **406582920** | **491711** |
| Underlying Reference | Counterparty | Maturity Date | Absolute Notional Value<br> ($)  | Unrealized <br> Appreciation/<br> (Depreciation) ($) <br>| Net Cash and Other Receivables/<br> (Payables) ($) | Value ($) <br>|
| The Fund receives the total return on a portfolio of long and short positions and pays or receives the U.S. SOFR Index ranging from 3.87% to 4.11% plus or minus a specified spread ranging from (0.88)% to 0.75% , which is denominated in U.S. dollars based on the local currencies of the positions within the swap | BNP Paribas SA | Oct 2026 | 1252588872 | (5236830) | 1780103 | (3456727) |
| The following table represents disclosures associated with the underlying components of the total return basket swap at period end, and percentages shown are based on total swap value. | The following table represents disclosures associated with the underlying components of the total return basket swap at period end, and percentages shown are based on total swap value. | The following table represents disclosures associated with the underlying components of the total return basket swap at period end, and percentages shown are based on total swap value. | The following table represents disclosures associated with the underlying components of the total return basket swap at period end, and percentages shown are based on total swap value. | The following table represents disclosures associated with the underlying components of the total return basket swap at period end, and percentages shown are based on total swap value. | The following table represents disclosures associated with the underlying components of the total return basket swap at period end, and percentages shown are based on total swap value. | The following table represents disclosures associated with the underlying components of the total return basket swap at period end, and percentages shown are based on total swap value. |
| Reference Entity |  |  |  | Shares/Principal<br> Amount (a)<br>| Notional Value ($)<br>| Unrealized <br> Appreciation/<br> (Depreciation) ($) |
| **LONG** | **LONG** | **LONG** | **LONG** | **LONG** | **LONG** | **LONG** |
|  **Convertible Corporate Bonds** |  |  |  |  |  |  |
| CANADA -86.4%  |  |  |  |  |  |  |
| **Materials - 86.4%**  |  |  |  |  |  |  |
| **Metals & Mining - 86.4%**  |  |  |  |  |  |  |
| B2Gold Corp 2.75% 2/1/2030 (2)  |  |  |  | 9000000 | 14053750 | (2987341) |
| TOTAL MATERIALS |  |  |  |  | 14053750 | (2987341) |
| TOTAL CANADA |  |  |  |  | 14053750 | (2987341) |
| UNITED STATES -240.3%  |  |  |  |  |  |  |
| **Communication Services - (38.1)%**  |  |  |  |  |  |  |
| **Entertainment - (39.9)%**  |  |  |  |  |  |  |
| Sphere Entertainment Co 3.5% 12/1/2028  |  |  |  | 8000000 | 16566222 | 1378914 |
| **Interactive Media & Services - 1.8%**  |  |  |  |  |  |  |
| Ziff Davis Inc 1.75% 11/1/2026  |  |  |  | 5000000 | 4825486 | (62324) |
| TOTAL COMMUNICATION SERVICES |  |  |  |  | 21391708 | 1316590 |
| **Utilities - 10.9%**  |  |  |  |  |  |  |
| **Electric Utilities - 10.9%**  |  |  |  |  |  |  |
| NextEra Energy Capital Holdings Inc 3% 3/1/2027  |  |  |  | 7500000 | 9428750 | (375511) |
| TOTAL UTILITIES |  |  |  |  | 9428750 | (375511) |
| **Health Care - 0.2%**  |  |  |  |  |  |  |
| **Biotechnology - 61.8%**  |  |  |  |  |  |  |
| Mirum Pharmaceuticals Inc 4% 5/1/2029  |  |  |  | 9800000 | 23370278 | (1294299) |
| Alnylam Pharmaceuticals Inc 1% 9/15/2027  |  |  |  | 15818000 | 26041701 | (841773) |
|  |  |  |  |  | 49411979 | (2136072) |
| **Health Care Equipment & Supplies - (51.4)%**  |  |  |  |  |  |  |
| TransMedics Group Inc 1.5% 6/1/2028  |  |  |  | 7500000 | 11966500 | 1186283 |
| Merit Medical Systems Inc 3% 2/1/2029 (2)  |  |  |  | 10960000 | 13285347 | 591762 |
|  |  |  |  |  | 25251847 | 1778045 |
| **Life Sciences Tools & Services - (0.7)%**  |  |  |  |  |  |  |
| Repligen Corp 1% 12/15/2028  |  |  |  | 11500000 | 12228333 | 23088 |
| **Pharmaceuticals - (9.5)%**  |  |  |  |  |  |  |
| Ligand Pharmaceuticals Inc 0.75% 10/1/2030 (2)  |  |  |  | 11140000 | 13068845 | 328007 |
| TOTAL HEALTH CARE |  |  |  |  | 99961004 | (6932) |
| **Energy - (4.8)%**  |  |  |  |  |  |  |
| **Oil, Gas & Consumable Fuels - (4.8)%**  |  |  |  |  |  |  |
| Northern Oil & Gas Inc 3.625% 4/15/2029 (2)  |  |  |  | 15000000 | 14562188 | 91079 |
| World Kinect Corp 3.25% 7/1/2028  |  |  |  | 5000000 | 5593569 | 77165 |
|  |  |  |  |  | 20155757 | 168244 |
| TOTAL ENERGY |  |  |  |  | 20155757 | 168244 |
| **Consumer Staples - 23.1%**  |  |  |  |  |  |  |
| **Personal Care Products - 19.5%**  |  |  |  |  |  |  |
| Oddity Finance LLC 0% 6/15/2030 (2)  |  |  |  | 17250000 | 15223125 | (674939) |
| **Food Products - 3.6%**  |  |  |  |  |  |  |
| Freshpet Inc 3% 4/1/2028  |  |  |  | 6000000 | 6541000 | (122742) |
| TOTAL CONSUMER STAPLES |  |  |  |  | 21764125 | (797681) |
| **Financials - 161.3%**  |  |  |  |  |  |  |
| **Capital Markets - 161.3%**  |  |  |  |  |  |  |
| Galaxy Digital Holdings LP 2.5% 12/1/2029 (2)  |  |  |  | 10250000 | 17938069 | (2724142) |
| Galaxy Digital Holdings LP 3% 12/15/2026 (2)  |  |  |  | 20000000 | 26026000 | (2851118) |
|  |  |  |  |  | 43964069 | (5575260) |
| TOTAL FINANCIALS |  |  |  |  | 43964069 | (5575260) |
| **Industrials - (63.7)%**  |  |  |  |  |  |  |
| **Aerospace & Defense - (102.5)%**  |  |  |  |  |  |  |
| Axon Enterprise Inc 0.5% 12/15/2027  |  |  |  | 9500000 | 30408708 | 3544008 |
| **Ground Transportation - (1.2)%**  |  |  |  |  |  |  |
| Uber Technologies Inc 0.875% 12/1/2028  |  |  |  | 2500000 | 3649236 | 41131 |
| **Construction & Engineering - 30.3%**  |  |  |  |  |  |  |
| Granite Construction Inc 3.25% 6/15/2030  |  |  |  | 25500000 | 37471187 | (1046572) |
| **Machinery - 9.7%**  |  |  |  |  |  |  |
| Greenbrier Cos Inc/The 2.875% 4/15/2028  |  |  |  | 23250000 | 24166922 | (335254) |
| TOTAL INDUSTRIALS |  |  |  |  | 95696053 | 2203313 |
| **Consumer Discretionary - 281.8%**  |  |  |  |  |  |  |
| **Hotels, Restaurants & Leisure - 1.0%**  |  |  |  |  |  |  |
| Expedia Group Inc 0% 2/15/2026  |  |  |  | 7500000 | 7590000 | (34371) |
| **Specialty Retail - 0.4%**  |  |  |  |  |  |  |
| Guess? Inc 3.75% 4/15/2028  |  |  |  | 10000000 | 9918750 | (14369) |
| **Diversified Consumer Services - 278.9%**  |  |  |  |  |  |  |
| Stride Inc 1.125% 9/1/2027  |  |  |  | 7000000 | 9819163 | (9641284) |
| **Automobiles - 1.5%**  |  |  |  |  |  |  |
| Rivian Automotive Inc 3.625% 10/15/2030  |  |  |  | 6500000 | 5573344 | (50429) |
| TOTAL CONSUMER DISCRETIONARY |  |  |  |  | 32901257 | (9740453) |
| **Information Technology - (130.4)%**  |  |  |  |  |  |  |
| **Electronic Equipment, Instruments & Components - (40.8)%**  |  |  |  |  |  |  |
| Advanced Energy Industries Inc 2.5% 9/15/2028  |  |  |  | 9238000 | 14777413 | 757911 |
| Vishay Intertechnology Inc 2.25% 9/15/2030  |  |  |  | 10000000 | 9320000 | (22210) |
| OSI Systems Inc 2.25% 8/1/2029  |  |  |  | 7900000 | 12487925 | 673135 |
|  |  |  |  |  | 36585338 | 1408836 |
| **Software - (7.6)%**  |  |  |  |  |  |  |
| Core Scientific Inc 3% 9/1/2029 (2)  |  |  |  | 5070000 | 10810085 | 834021 |
| BlackLine Inc 1% 6/1/2029  |  |  |  | 3750000 | 4038083 | 253956 |
| InterDigital Inc 3.5% 6/1/2027  |  |  |  | 13472000 | 63349086 | (543656) |
| Box Inc 1.5% 9/15/2029  |  |  |  | 4500000 | 4545000 | (29759) |
| Uber Technologies Inc 0% 5/15/2028 (2)  |  |  |  | 10000000 | 10545000 | (237758) |
| Nutanix Inc 0.25% 10/1/2027  |  |  |  | 13250000 | 17724819 | 423108 |
| Workiva Inc 1.125% 8/15/2026  |  |  |  | 1000000 | 1176038 | (5487) |
| Tyler Technologies Inc 0.25% 3/15/2026  |  |  |  | 11617000 | 12091361 | (423600) |
|  |  |  |  |  | 124279472 | 270825 |
| **IT Services - (1.8)%**  |  |  |  |  |  |  |
| Akamai Technologies Inc 0.375% 9/1/2027  |  |  |  | 10000000 | 9626458 | 61516 |
| **Technology Hardware, Storage & Peripherals - (80.2)%**  |  |  |  |  |  |  |
| Western Digital Corp 3% 11/15/2028  |  |  |  | 3500000 | 14066500 | 2773071 |
| TOTAL INFORMATION TECHNOLOGY |  |  |  |  | 184557768 | 4514248 |
| TOTAL UNITED STATES |  |  |  |  | 529820491 | (8293442) |
| INDIA -24.3%  |  |  |  |  |  |  |
| **Consumer Discretionary - 24.3%**  |  |  |  |  |  |  |
| **Hotels, Restaurants & Leisure - 24.3%**  |  |  |  |  |  |  |
| MakeMyTrip Ltd 0% 7/1/2030 (2)  |  |  |  | 15500000 | 14921850 | (840895) |
| TOTAL CONSUMER DISCRETIONARY |  |  |  |  | 14921850 | (840895) |
| TOTAL INDIA |  |  |  |  | 14921850 | (840895) |
| <br> **TOTAL CONVERTIBLE CORPORATE BONDS** |  |  |  |  | **558796091** | <br> **(12121678)** |
| **TOTAL LONG** |  |  |  |  | **558796091** | **(12121678)** |
| **SHORT** | **SHORT** | **SHORT** | **SHORT** | **SHORT** | **SHORT** | **SHORT** |
| **Domestic Equity Funds** |  |  |  |  |  |  |
|  iShares Core S&P 500 ETF |  |  |  | (20700) | (14184261) | (350865) |
|  Financial Select Sector SPDR ETF |  |  |  | (438300) | (22953771) | 381321 |
| <br> **TOTAL DOMESTIC EQUITY FUNDS** |  |  |  |  | **(37138032)** | **30456** |
|  **Common Stocks** |  |  |  |  |  |  |
| CANADA -(90.3)%  |  |  |  |  |  |  |
| **Energy - 0.0%**  |  |  |  |  |  |  |
| **Oil, Gas & Consumable Fuels - 0.0%**  |  |  |  |  |  |  |
| Denison Mines Corp (1)  |  |  |  | (2200000) | (6974000) | 0 |
| TOTAL ENERGY |  |  |  |  | (6974000) | 0 |
| **Materials - (90.3)%**  |  |  |  |  |  |  |
| **Metals & Mining - (90.3)%**  |  |  |  |  |  |  |
| B2Gold Corp  |  |  |  | (2439700) | (10710283) | 3122816 |
| TOTAL MATERIALS |  |  |  |  | (10710283) | 3122816 |
| TOTAL CANADA |  |  |  |  | (17684283) | 3122816 |
| UNITED STATES -(63.5)%  |  |  |  |  |  |  |
| **Communication Services - 37.4%**  |  |  |  |  |  |  |
| **Entertainment - 37.8%**  |  |  |  |  |  |  |
| Sphere Entertainment Co Class A (1)  |  |  |  | (192000) | (13148160) | (1306775) |
| **Interactive Media & Services - (0.4)%**  |  |  |  |  |  |  |
| Ziff Davis Inc (1)  |  |  |  | (5000) | (169500) | 15150 |
| TOTAL COMMUNICATION SERVICES |  |  |  |  | (13317660) | (1291625) |
| **Utilities - (11.1)%**  |  |  |  |  |  |  |
| **Electric Utilities - (11.1)%**  |  |  |  |  |  |  |
| NextEra Energy Inc  |  |  |  | (88000) | (7163200) | 382675 |
| TOTAL UTILITIES |  |  |  |  | (7163200) | 382675 |
| **Health Care - (3.7)%**  |  |  |  |  |  |  |
| **Biotechnology - (56.5)%**  |  |  |  |  |  |  |
| AbbVie Inc  |  |  |  | (32000) | (6977280) | 261760 |
| Mirum Pharmaceuticals Inc (1)  |  |  |  | (284700) | (20683455) | 1007838 |
| Cytokinetics Inc (1)  |  |  |  | (43000) | (2734370) | (33970) |
| Alnylam Pharmaceuticals Inc (1)  |  |  |  | (50300) | (22938812) | 715769 |
|  |  |  |  |  | (53333917) | 1951397 |
| **Health Care Equipment & Supplies - 57.0%**  |  |  |  |  |  |  |
| Merit Medical Systems Inc (1)  |  |  |  | (98000) | (8578920) | (692860) |
| Lantheus Holdings Inc (1)  |  |  |  | (60000) | (3461400) | (70200) |
| TransMedics Group Inc (1)  |  |  |  | (64000) | (8418560) | (1211520) |
|  |  |  |  |  | (20458880) | (1974580) |
| **Health Care Technology - (13.0)%**  |  |  |  |  |  |  |
| Evolent Health Inc Class A (1)  |  |  |  | (383100) | (2555277) | 448227 |
| **Life Sciences Tools & Services - (0.4)%**  |  |  |  |  |  |  |
| Repligen Corp (1)  |  |  |  | (28000) | (4173680) | 12880 |
| **Pharmaceuticals - 9.2%**  |  |  |  |  |  |  |
| Ligand Pharmaceuticals Inc (1)  |  |  |  | (44700) | (8551557) | (318600) |
| TOTAL HEALTH CARE |  |  |  |  | (89073311) | 119324 |
| **Consumer Staples - (11.5)%**  |  |  |  |  |  |  |
| **Consumer Staples Distribution & Retail - (7.6)%**  |  |  |  |  |  |  |
| Costco Wholesale Corp  |  |  |  | (6000) | (5468700) | 261240 |
| **Food Products - (3.9)%**  |  |  |  |  |  |  |
| Freshpet Inc (1)  |  |  |  | (58000) | (2854180) | 135720 |
| TOTAL CONSUMER STAPLES |  |  |  |  | (8322880) | 396960 |
| **Energy - 5.0%**  |  |  |  |  |  |  |
| **Oil, Gas & Consumable Fuels - 5.0%**  |  |  |  |  |  |  |
| Northern Oil & Gas Inc  |  |  |  | (253900) | (5618807) | (104099) |
| World Kinect Corp  |  |  |  | (102000) | (2636700) | (69360) |
|  |  |  |  |  | (8255507) | (173459) |
| TOTAL ENERGY |  |  |  |  | (8255507) | (173459) |
| **Financials - (156.1)%**  |  |  |  |  |  |  |
| **Capital Markets - (138.3)%**  |  |  |  |  |  |  |
| Morgan Stanley  |  |  |  | (41700) | (6838800) | (56295) |
| Coinbase Global Inc Class A (1)  |  |  |  | (18100) | (6222418) | (135388) |
| Galaxy Digital Inc Class A  |  |  |  | (719300) | (25182693) | 4970363 |
|  |  |  |  |  | (38243911) | 4778680 |
| **Financial Services - (22.1)%**  |  |  |  |  |  |  |
| Mastercard Inc Class A  |  |  |  | (17600) | (9715024) | 190432 |
| Euronet Worldwide Inc (1)  |  |  |  | (59000) | (4475740) | 573480 |
|  |  |  |  |  | (14190764) | 763912 |
| **Banks - 13.6%**  |  |  |  |  |  |  |
| Citigroup Inc  |  |  |  | (325000) | (32899750) | (471250) |
| **Consumer Finance - (9.3)%**  |  |  |  |  |  |  |
| Upstart Holdings Inc (1)  |  |  |  | (91000) | (4324320) | 323050 |
| TOTAL FINANCIALS |  |  |  |  | (89658745) | 5394392 |
| **Industrials - 11.4%**  |  |  |  |  |  |  |
| **Aerospace & Defense - 121.1%**  |  |  |  |  |  |  |
| Axon Enterprise Inc (1)  |  |  |  | (48000) | (35147040) | (4187520) |
| **Electrical Equipment - (34.0)%**  |  |  |  |  |  |  |
| Enovix Corp Class B (1)  |  |  |  | (979900) | (11749001) | 1175880 |
| **Construction & Engineering - (69.4)%**  |  |  |  |  |  |  |
| Granite Construction Inc  |  |  |  | (687200) | (70719752) | 2398328 |
| **Ground Transportation - 2.3%**  |  |  |  |  |  |  |
| Uber Technologies Inc (1)  |  |  |  | (40800) | (3937200) | (80784) |
| **Machinery - (8.6)%**  |  |  |  |  |  |  |
| Greenbrier Cos Inc/The  |  |  |  | (186300) | (7781751) | 295841 |
| TOTAL INDUSTRIALS |  |  |  |  | (129334744) | (398255) |
| **Consumer Discretionary - (271.4)%**  |  |  |  |  |  |  |
| **Hotels, Restaurants & Leisure - (6.4)%**  |  |  |  |  |  |  |
| Cheesecake Factory Inc/The  |  |  |  | (62900) | (3132420) | 290598 |
| Expedia Group Inc Class A  |  |  |  | (20000) | (4400000) | (68147) |
|  |  |  |  |  | (7532420) | 222451 |
| **Diversified Consumer Services - (266.1)%**  |  |  |  |  |  |  |
| Stride Inc (1)  |  |  |  | (117600) | (8001504) | 9197496 |
| **Automobiles - 1.1%**  |  |  |  |  |  |  |
| Rivian Automotive Inc Class A (1)  |  |  |  | (239700) | (3252729) | (38352) |
| TOTAL CONSUMER DISCRETIONARY |  |  |  |  | (18786653) | 9381595 |
| **Information Technology - 336.5%**  |  |  |  |  |  |  |
| **Semiconductors & Semiconductor Equipment - 144.6%**  |  |  |  |  |  |  |
| NVIDIA Corp  |  |  |  | (160000) | (32398400) | (3625600) |
| Broadcom Inc  |  |  |  | (75000) | (27722250) | (1372500) |
|  |  |  |  |  | (60120650) | (4998100) |
| **Electronic Equipment, Instruments & Components - 41.8%**  |  |  |  |  |  |  |
| Advanced Energy Industries Inc  |  |  |  | (73400) | (14880382) | (838024) |
| Vishay Intertechnology Inc  |  |  |  | (165100) | (2803398) | (1651) |
| OSI Systems Inc (1)  |  |  |  | (34200) | (9523332) | (610140) |
|  |  |  |  |  | (27207112) | (1449815) |
| **Software - 13.0%**  |  |  |  |  |  |  |
| InterDigital Inc  |  |  |  | (174300) | (63089628) | 475839 |
| Microsoft Corp  |  |  |  | (24000) | (12427440) | (105120) |
| Oracle Corp  |  |  |  | (25900) | (6801599) | 1062159 |
| BlackLine Inc (1)  |  |  |  | (88000) | (5038000) | (676720) |
| Aurora Innovation Inc Class A (1)  |  |  |  | (1164700) | (6103028) | 291175 |
| Workiva Inc Class A (1)  |  |  |  | (6000) | (510060) | 7620 |
| Tyler Technologies Inc (1)  |  |  |  | (14500) | (6905770) | 373955 |
| Box Inc Class A (1)  |  |  |  | (104100) | (3340569) | 66624 |
| Core Scientific Inc (1)  |  |  |  | (860000) | (18524400) | (1376000) |
| Nutanix Inc Class A (1)  |  |  |  | (170000) | (12110800) | (567800) |
|  |  |  |  |  | (134851294) | (448268) |
| **Technology Hardware, Storage & Peripherals - 135.7%**  |  |  |  |  |  |  |
| Apple Inc  |  |  |  | (84000) | (22711080) | (1766520) |
| Western Digital Corp  |  |  |  | (89600) | (13458816) | (2667392) |
| Seagate Technology Holdings PLC  |  |  |  | (7000) | (1791160) | (255500) |
|  |  |  |  |  | (37961056) | (4689412) |
| **IT Services - 1.4%**  |  |  |  |  |  |  |
| Akamai Technologies Inc (1)  |  |  |  | (35000) | (2628500) | (50050) |
| TOTAL INFORMATION TECHNOLOGY |  |  |  |  | (262768612) | (11635645) |
| TOTAL UNITED STATES |  |  |  |  | (626681312) | 2175962 |
| ISRAEL -(21.3)%  |  |  |  |  |  |  |
| **Consumer Staples - (21.7)%**  |  |  |  |  |  |  |
| **Personal Care Products - (21.7)%**  |  |  |  |  |  |  |
| Oddity Tech Ltd Class A (1)  |  |  |  | (126000) | (5701500) | 748440 |
| TOTAL CONSUMER STAPLES |  |  |  |  | (5701500) | 748440 |
| **Information Technology - 0.4%**  |  |  |  |  |  |  |
| **Software - 0.4%**  |  |  |  |  |  |  |
| Nice Ltd ADR (1)  |  |  |  | (1900) | (259654) | (15466) |
| TOTAL INFORMATION TECHNOLOGY |  |  |  |  | (259654) | (15466) |
| TOTAL ISRAEL |  |  |  |  | (5961154) | 732974 |
| INDIA -(23.8)%  |  |  |  |  |  |  |
| **Consumer Discretionary - (23.8)%**  |  |  |  |  |  |  |
| **Hotels, Restaurants & Leisure - (23.8)%**  |  |  |  |  |  |  |
| MakeMyTrip Ltd (1)  |  |  |  | (79100) | (6328000) | 822640 |
| TOTAL CONSUMER DISCRETIONARY |  |  |  |  | (6328000) | 822640 |
| TOTAL INDIA |  |  |  |  | (6328000) | 822640 |
| <br> **TOTAL COMMON STOCKS** |  |  |  |  | **(656654749)** | <br> **6854392** |
| **TOTAL SHORT** |  |  |  |  | **(693792781)** | **6884848** |
| **TOTAL SWAP COMPONENTS** |  |  |  |  | **(134996690)** | **(5236830)** |

---

(1) Non-income producing.

(2) 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.

(3) Security exempt from registration under Regulation S of the Securities Act of 1933 and may be resold to qualified foreign investors outside of the United States.

**Security Type Abbreviations**

ETF - EXCHANGE-TRADED FUND

**Legend**

(a) Amount is stated in United States dollars unless otherwise noted.

(b) 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 the end of the period, the value of these securities amounted to $148,126,224 or 17.1% of net assets.

(c) Zero coupon bond which is issued at a discount.

(d) Principal Only Strips represent the right to receive the monthly principal payments.

(e) Yield represents either the annualized yield at the date of purchase, or the stated coupon rate, or, for floating and adjustable rate securities, the rate at period end.

(f) Security or a portion of the security has been segregated as collateral for over the counter (OTC) derivatives. At period end, the value of securities pledged amounts to $213,318,973.

(g) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $1,703,407.

(h) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.

**Affiliated Central Funds**

Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Affiliate  | Value,<br> beginning<br> of period ($) | Purchases ($) | Sales<br> Proceeds ($) | Dividend<br> Income ($) | Realized<br> Gain (loss) ($) | Change in<br> Unrealized<br> appreciation<br> (depreciation) ($) | Value,<br> end<br> of period ($) | <br>Shares,<br> end<br> of period  | % ownership,<br> end<br> of period |
| Fidelity Cash Central Fund | 1939811 | 583481903 | 527812571 | 896059 | (1162) | - | 57607981 | 57596462 | 0.1% |
| Total | 1939811 | 583481903 | 527812571 | 896059 | (1162) | - | 57607981 |  |  |

---

Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds.

**Investment Valuation**

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Securities transactions are accounted for as of trade date. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters.

The inputs to valuation techniques used to value investments are categorized into a disclosure hierarchy consisting of three levels as shown below:

Level 1 - Unadjusted quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)

Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)

Valuation techniques used to value investments by major category are as follows:

Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For any foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.

Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing services or from brokers who make markets in such securities. U.S. Treasury Obligations and Convertible Corporate Bonds are valued by pricing services who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing services. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.

Swaps are marked-to-market daily based on valuations from third party pricing services, registered derivatives clearing organizations (clearinghouses) or broker-supplied valuations. These pricing sources may utilize inputs such as movements in the underlying index interest rate curves, credit spread curves, default possibilities and recovery rates. When independent prices are unavailable or unreliable, swaps may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing services. Swaps are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.

Exchange-Traded Funds (ETFs) and Exchange-Traded Notes (ETNs) are valued at their last sale price or official closing price as reported by a third party pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day but the exchange reports a closing bid level, ETFs and ETNs are valued at the closing bid and would be categorized as Level 1 in the hierarchy. In the event there was no closing bid, ETFs and ETNs may be valued by another method that the Board believes reflects fair value in accordance with the Board's fair value pricing policies and may be categorized as Level 2 in the hierarchy.

Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded and are categorized as Level 1 in the hierarchy.

Investments in any open-end mutual funds are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.

Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy.

**Derivative Instruments**

Risk Exposures and the Use of Derivative Instruments: The Fund's investment objectives allow the Fund to enter into various types of derivative contracts. Derivatives are investments whose value is primarily derived from underlying assets, indices or reference rates and may be transacted on an exchange or over-the-counter (OTC). Derivatives may involve a future commitment to buy or sell a specified asset based on specified terms, to exchange future cash flows at periodic intervals based on a notional principal amount, or for one party to make one or more payments upon the occurrence of specified events in exchange for periodic payments from the other party.

The Fund used derivatives to increase returns, to gain exposure to certain types of assets and/or to manage exposure to certain risks as defined below. The success of any strategy involving derivatives depends on analysis of numerous economic factors, and if the strategies for investment do not work as intended, the Fund may not achieve its objectives.

The Fund's use of derivatives increased or decreased its exposure to the following risk(s):

Equity Risk - Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment.

Interest Rate Risk - Interest rate risk relates to the fluctuations in the value of interest-bearing securities due to changes in the prevailing levels of market interest rates.

The Fund is also exposed to additional risks from investing in derivatives, such as liquidity risk and counterparty credit risk. Liquidity risk is the risk that the Fund will be unable to close out the derivative in the open market in a timely manner. Counterparty credit risk is the risk that the counterparty will not be able to fulfill its obligation to the Fund.

Investing in derivatives may involve greater risks than investing in the underlying assets directly and, to varying degrees, may involve risk of loss in excess of any initial investment and collateral received. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.

Futures Contracts: A futures contract is an agreement between two parties to buy or sell a specified underlying instrument for a specified price at a specified future date.

The Fund used futures contracts to manage its exposure to the bond market and fluctuations in interest rates.

Open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts". The underlying face amount at value reflects each contract's exposure to the underlying instrument or index at period end. Any securities and/or cash deposited to meet initial margin requirements are identified in the Schedule of Investments.

Swaps: A swap is a contract between two parties to exchange future cash flows at periodic intervals based on a notional principal amount.

A bi-lateral OTC swap is a transaction between a fund and a dealer counterparty where cash flows are exchanged between the two parties for the life of the swap.

Total Return Swaps: Total return swaps are agreements between counterparties to exchange cash flows, one based on a market-linked return of an individual asset or a basket of assets (i.e., an index), and the other on a fixed or floating rate. To the extent the total return of the instrument or index underlying the transaction exceeds or falls short of the offsetting payment obligation, the Fund will receive a payment from or make a payment to the counterparty. The Fund entered into total return swaps to manage its market exposure.

Open swaps at period end are included in the Schedule of Investments under the caption Credit Default Swaps, Interest Rate Swaps and/or Total Return Swaps, as applicable.

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.

*The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.*

*Third party trademarks and service marks are the property of their respective owners. All other trademarks and service marks are the property of FMR LLC or an affiliate.*

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Fidelity Greenwood Street Trust

- **b. Investment Company Act file number:** 811-23762

- **c. CIK number of Registrant:** 0001898391

- **d. LEI of Registrant:** 549300467DYGTZIRI308

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

  - **Street Address 1:** 245 Summer Street

  - **City:** Boston

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 02210

  - **Telephone number:** 1-800-FIDELITY

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

- **a. Name of Series:** Fidelity SAI Convertible Arbitrage Fund

- **b. EDGAR series identifier (if any):** S000081303

- **c. LEI of Series:** 5493000KTCP1YAGWOK37

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

- **a. Date of fiscal year-end:** 2026-01-31

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $868388561.20

**Total Liabilities:** $4530523.44

**Net Assets:** $863858037.76

**Cash Not Reported:** $8054311.60

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 1583.01316200 | **1-Year:** 931.66394600 | **5-Year:** 6030.56326400 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

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

- **3-Month:** 748.69763450 | **1-Year:** 16125.10339090 | **5-Year:** 47687.41539430 | **10-Year:** 4654.41453800 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000243999 | 0.90%                | 2.06%                | 1.84%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $2297740.47              | $9853769.46                                |
| Month 2  | $11341036.19             | $9168104.16                                |
| Month 3  | $6424565.00              | $7741679.13                                |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### Schedule of Portfolio Investments

| Name                                                | Title                                                     | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Old Name : iShares Ultra Short-Term Bond Active ETF | iShares Core S and P 500 ETF                              | CUSIP: 464287200<br>LEI: 549300G3FWQPUM47D181 | Long             | EC               | RF                | US        |     20700 | NS      | $14184261.00  | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| COSTCO WHOLESALE CORP                               | COSTCO WHOLESALE CORP                                     | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               | CORP              | US        |      6000 | NS      | $5468700.00   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| AXON ENTERPRISE INC                                 | AXON ENTERPRISE INC CONV 0.5% 12/15/2027                  | CUSIP: 05464CAB7<br>LEI: 549300QP2IEEGFE16681 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $4798500.00   | 0.56%             | 2027-12-15      | Fixed         | 0.01%                 | No            |                  2 | On Loan: No      |
| UNITY SOFTWARE INC                                  | UNITY SOFTWARE INC CONV 0% 11/15/2026                     | CUSIP: 91332UAB7<br>LEI: 549300D1ESJMGNQNG432 | Long             | DBT              | CORP              | US        |   5172000 | PA      | $4923744.00   | 0.57%             | 2026-11-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| SECTOR SPDR TR                                      | The Financial Select Sector SPDR ETF                      | CUSIP: 81369Y605<br>LEI: 549300N81BAQ1XPGBT65 | Long             | EC               | RF                | US        |    438300 | NS      | $22953771.00  | 2.66%             |  |  |  | No            |                  1 | On Loan: No      |
| ABBVIE INC                                          | ABBVIE INC                                                | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |     32000 | NS      | $6977280.00   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| APPLE INC                                           | APPLE INC                                                 | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |     84000 | NS      | $22711080.00  | 2.63%             |  |  |  | No            |                  1 | On Loan: No      |
| GALAXY DIGITAL HOLDINGS LP                          | GALAXY DIGITAL HOLDINGS LP CONV 3% 12/15/2026 144A        | CUSIP: 36317GAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    500000 | PA      | $644900.00    | 0.07%             | 2026-12-15      | Fixed         | 0.03%                 | No            |                  2 | On Loan: No      |
| XPLR Infrastructure LP                              | XPLR Infrastructure LP CONV 2.5% 06/15/2026 144A          | CUSIP: 65341BAG1<br>LEI: 5493008F4ZOQFNG3WN54 | Long             | DBT              | CORP              | US        |   8750000 | PA      | $8575000.00   | 0.99%             | 2026-06-15      | Fixed         | 0.03%                 | No            |                  2 | On Loan: No      |
| MICROSOFT CORP                                      | MICROSOFT CORP                                            | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     24000 | NS      | $12427440.00  | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| RINGCENTRAL INC                                     | RINGCENTRAL INC CONV 0% 03/15/2026                        | CUSIP: 76680RAH0<br>LEI: 549300C8EH0H1614VE84 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $5860800.00   | 0.68%             | 2026-03-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| ENOVIX CORP                                         | ENOVIX CORP CONV 4.75% 09/15/2030 144A                    | CUSIP: 293594AF4<br>LEI: 549300EC7NZGWORHYJ53 | Long             | DBT              | CORP              | US        |  15000000 | PA      | $20175000.00  | 2.34%             | 2030-09-15      | Fixed         | 0.05%                 | No            |                  2 | On Loan: No      |
| FUBOTV INC                                          | FUBOTV INC CONV 3.25% 02/15/2026                          | CUSIP: 35953DAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5670000 | PA      | $5613300.00   | 0.65%             | 2026-02-15      | Fixed         | 0.03%                 | No            |                  2 | On Loan: No      |
| UBER TECHNOLOGIES INC                               | UBER TECHNOLOGIES INC CONV 0% 05/15/2028 144A             | CUSIP: 90353TAR1<br>LEI: 549300B2FTG34FILDR98 | Long             | DBT              | CORP              | US        |   6500000 | PA      | $6854250.00   | 0.79%             | 2028-05-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| LANTHEUS HOLDINGS INC                               | LANTHEUS HLDGS INC CONV 2.625% 12/15/2027                 | CUSIP: 516544AB9<br>LEI: 5299005HUB5IOJGO7S39 | Long             | DBT              | CORP              | US        |   9500000 | PA      | $10526000.00  | 1.22%             | 2027-12-15      | Fixed         | 0.03%                 | No            |                  2 | On Loan: No      |
| GRANITE CONSTRUCTION INC                            | GRANITE CONSTRUCTION INC CONV 3.75% 05/15/2028            | CUSIP: 387328AD9<br>LEI: 549300OM4BWMCIXVCZ39 | Long             | DBT              | CORP              | US        |  17140000 | PA      | $38873520.00  | 4.50%             | 2028-05-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| DIGITALOCEAN HOLDINGS INC                           | DIGITALOCEAN HOLDINGS INC CONV 0% 12/01/2026              | CUSIP: 25402DAB8<br>LEI: 549300EPISPY3RE3DL21 | Long             | DBT              | CORP              | US        |  15000000 | PA      | $14182500.00  | 1.64%             | 2026-12-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| EXPEDIA GROUP INC                                   | EXPEDIA GROUP INC CONV 0% 02/15/2026                      | CUSIP: 30212PBE4<br>LEI: CI7MUJI4USF3V0NJ1H64 | Long             | DBT              | CORP              | US        |   7500000 | PA      | $7590000.00   | 0.88%             | 2026-02-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| CORE SCIENTIFIC INC                                 | CORE SCIENTIFIC INC CONV 3% 09/01/2029 144A               | CUSIP: 21874AAC0<br>LEI: 5299003RGB2LAZ65RK73 | Long             | DBT              | CORP              | US        |   6880000 | PA      | $14633760.00  | 1.69%             | 2029-09-01      | Fixed         | 0.03%                 | No            |                  2 | On Loan: No      |
| SOUTHERN COMPANY                                    | SOUTHERN COMPANY CONV 3.25% 06/15/2028 144A               | CUSIP: 842587EC7<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |   4950000 | PA      | $5036625.00   | 0.58%             | 2028-06-15      | Fixed         | 0.03%                 | No            |                  2 | On Loan: No      |
| BANK OF MONTREAL QUE                                | Total Return Basket Swap BMO                              | CUSIP: N/A<br>LEI: NQQ6HPCNCCU6TUTQYE16       | N/A              | DO               | CORP              | CA        |         1 | NC      | $346256.28    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| BOX INC                                             | BOX INC CONV 1.5% 09/15/2029                              | CUSIP: 10316TAD6<br>LEI: 549300KQUCPD8687YS68 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3024000.00   | 0.35%             | 2029-09-15      | Fixed         | 0.01%                 | No            |                  2 | On Loan: No      |
| GRANITE CONSTRUCTION INC                            | GRANITE CONSTRUCTION INC CONV 3.25% 06/15/2030            | CUSIP: 387328AF4<br>LEI: 549300OM4BWMCIXVCZ39 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $8742000.00   | 1.01%             | 2030-06-15      | Fixed         | 0.03%                 | No            |                  2 | On Loan: No      |
| CYTOKINETICS INC                                    | CYTOKINETICS INC CONV 1.75% 10/01/2031 144A               | CUSIP: 23282WAD2<br>LEI: 549300BE5DY1HW7IHA64 | Long             | DBT              | CORP              | US        |   3920000 | PA      | $4855312.00   | 0.56%             | 2031-10-01      | Fixed         | 0.02%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                         | ORACLE CORP                                               | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |     25900 | NS      | $6801599.00   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| NEBIUS GROUP NV                                     | NEBIUS GROUP NV CONV 2.75% 09/15/2032 144A                | CUSIP: 63954QAF3<br>LEI: 549300GGZHJ5Q1B18P93 | Long             | DBT              | CORP              | NL        |   4600000 | PA      | $5855800.00   | 0.68%             | 2032-09-15      | Fixed         | 0.03%                 | No            |                  2 | On Loan: No      |
| MACOM TECHNOLOGY SOLUTIONS HOLDINGS INC             | MACOM TECHNOLOGY SOLN HLDS INC CONV 0.25% 03/15/2026      | CUSIP: 55405YAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  12100000 | PA      | $21798150.00  | 2.52%             | 2026-03-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| UPSTART HOLDINGS INC                                | UPSTART HOLDINGS INC CONV 0% 02/15/2032 144A              | CUSIP: 91680MAG2<br>LEI: 549300WNB47JRNENIC75 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $8505000.00   | 0.98%             | 2032-02-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| TETRA TECH INC NEW                                  | TETRA TECH INC NEW CONV 2.25% 08/15/2028                  | CUSIP: 88162GAB9<br>LEI: 549300UJ1LP7JGJC5P32 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3186900.00   | 0.37%             | 2028-08-15      | Fixed         | 0.02%                 | No            |                  2 | On Loan: No      |
| PELOTON INTERACTIVE INC                             | PELOTON INTERACTIVE INC CONV 0% 02/15/2026                | CUSIP: 70614WAB6<br>LEI: 5493002YS021166W0339 | Long             | DBT              | CORP              | US        |  17700000 | PA      | $17301750.00  | 2.00%             | 2026-02-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| UST BILLS                                           | UST BILLS 0% 12/09/2025                                   | CUSIP: 912797RW9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  85000000 | PA      | $84672299.50  | 9.80%             | 2025-12-09      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| DENISON MINES CORP                                  | DENISON MINES CORP CONV 4.25% 09/15/2031 144A             | CUSIP: 248356AA5<br>LEI: 529900JWGSW17LJK6586 | Long             | DBT              | CORP              | CA        |   7500000 | PA      | $10816920.00  | 1.25%             | 2031-09-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                        | BROADCOM INC                                              | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |     75000 | NS      | $27722250.00  | 3.21%             |  |  |  | No            |                  1 | On Loan: No      |
| CITIGROUP INC                                       | CITIGROUP INC                                             | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |    325000 | NS      | $32899750.00  | 3.81%             |  |  |  | No            |                  1 | On Loan: No      |
| EURONET WORLDWIDE INC                               | EURONET WORLDWIDE INC CONV 0.625% 10/01/2030 144A         | CUSIP: 298736AM1<br>LEI: YG3575C4DSHJPA5KET68 | Long             | DBT              | CORP              | US        |  12020000 | PA      | $10908150.00  | 1.26%             | 2030-10-01      | Fixed         | 0.01%                 | No            |                  2 | On Loan: No      |
| Fidelity Revere Street Trust                        | Fidelity Cash Central Fund                                | CUSIP: 31635A105<br>LEI: 549300BDV45LJNXBZC55 | Long             | STIV             | RF                | US        |  57596462 | NS      | $57607981.38  | 6.67%             |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO BOARD OF TRADE                              | US 2YR NOTE (CBT) FUT DEC25 TUZ5                          | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | N/A              | DIR              | CORP              | US        |      -705 | NC      | $-67308.11    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| BLACKLINE INC                                       | BLACKLINE INC CONV 1% 06/01/2029                          | CUSIP: 09239BAF6<br>LEI: 529900P9N7PK9LV5EK56 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5363000.00   | 0.62%             | 2029-06-01      | Fixed         | 0.01%                 | No            |                  2 | On Loan: No      |
| UST BILLS                                           | UST BILLS 0% 11/04/2025                                   | CUSIP: 912797RM1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  85000000 | PA      | $84990977.25  | 9.84%             | 2025-11-04      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| XPLR Infrastructure LP                              | XPLR Infrastructure LP CONV 0% 11/15/2025 144A            | CUSIP: 65341BAD8<br>LEI: 5493008F4ZOQFNG3WN54 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1995000.00   | 0.23%             | 2025-11-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| NORTHERN OIL AND GAS INC                            | NORTHERN OIL AND GAS INC CONV 3.625% 04/15/2029 144A      | CUSIP: 665531AK5<br>LEI: OKFF0PIZDDMNH4UCYE51 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2422500.00   | 0.28%             | 2029-04-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| AIRBNB INC                                          | AIRBNB INC CONV 0% 03/15/2026                             | CUSIP: 009066AB7<br>LEI: 549300HMUDNO0RY56D37 | Long             | DBT              | CORP              | US        |  21500000 | PA      | $21123750.00  | 2.45%             | 2026-03-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                      | MORGAN STANLEY                                            | CUSIP: 617446448<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EC               | CORP              | US        |     41700 | NS      | $6838800.00   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| DISH NETWORK CORP                                   | DISH NETWORK CORP CONV 0% 12/15/2025                      | CUSIP: 25470MAF6<br>LEI: 529900U350CWHH15G169 | Long             | DBT              | CORP              | US        |   2600000 | PA      | $2548000.00   | 0.29%             | 2025-12-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| MARRIOTT VACATIONS WORLDWIDE CORP                   | MARRIOTT VACATIONS WRLDWD CORP CONV 0% 01/15/2026         | CUSIP: 57164YAD9<br>LEI: 549300WA6BT5H4F7IO94 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $9880000.00   | 1.14%             | 2026-01-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| CHEESECAKE FACTORY (THE)                            | CHEESECAKE FACTORY INC CONV 2% 03/15/2030 144A            | CUSIP: 163072AB7<br>LEI: 529900872XMLK10SY247 | Long             | DBT              | CORP              | US        |  11861000 | PA      | $11659363.00  | 1.35%             | 2030-03-15      | Fixed         | 0.02%                 | No            |                  2 | On Loan: No      |
| COINBASE GLOBAL INC                                 | COINBASE GLOBAL INC CONV 0% 10/01/2032 144A               | CUSIP: 19260QAJ6<br>LEI: 5493004G3J2SC154DU06 | Long             | DBT              | CORP              | US        |   9500000 | PA      | $10587750.00  | 1.23%             | 2032-10-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| NVIDIA CORP                                         | NVIDIA CORP                                               | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |    160000 | NS      | $32398400.00  | 3.75%             |  |  |  | No            |                  1 | On Loan: No      |
| MASTERCARD INC                                      | MASTERCARD INC CL A                                       | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |     17600 | NS      | $9715024.00   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| CRACKER BARREL OLD COUNTRY STORE INC                | CRACKER BARREL OLD CTRY ST INC CONV 1.75% 09/15/2030 144A | CUSIP: 22410JAC0<br>LEI: 8P4PHQIUWPIECBFBW745 | Long             | DBT              | CORP              | US        |   4225000 | PA      | $3447600.00   | 0.40%             | 2030-09-15      | Fixed         | 0.02%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS NY BRANCH                               | Total Return Basket Swap BNP                              | CUSIP: N/A<br>LEI: R0MUWSFPU8MPRO8K5P83       | N/A              | DO               | CORP              | US        |         1 | NC      | $-3339093.28  | -0.39%            |  |  |  | No            |                  2 | On Loan: No      |
| CHICAGO BOARD OF TRADE                              | US 5YR NOTE (CBT) FUT DEC25 FVZ5                          | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | N/A              | DIR              | CORP              | US        |      -651 | NC      | $-199469.66   | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| EVOLENT HEALTH INC                                  | EVOLENT HEALTH INC CONV 4.5% 08/15/2031 144A              | CUSIP: 30050BAJ0<br>LEI: 549300CZOCFHQ2BBTR11 | Long             | DBT              | CORP              | US        |   7200000 | PA      | $6592194.43   | 0.76%             | 2031-08-15      | Fixed         | 0.04%                 | No            |                  2 | On Loan: No      |
| ADVANCED ENERGY INDUSTRIES INC                      | ADVANCED ENERGY INDUSTRIES INC CONV 2.5% 09/15/2028       | CUSIP: 007973AE0<br>LEI: 549300756XI3QLFT2U27 | Long             | DBT              | CORP              | US        |   3500000 | PA      | $5587050.00   | 0.65%             | 2028-09-15      | Fixed         | 0.03%                 | No            |                  2 | On Loan: No      |
| UST BILLS                                           | UST BILLS 0% 01/08/2026                                   | CUSIP: 912797RH2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  75000000 | PA      | $74479906.50  | 8.62%             | 2026-01-08      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| CABLE ONE INC                                       | CABLE ONE INC CONV 0% 03/15/2026                          | CUSIP: 12685JAE5<br>LEI: 549300648QS85T0XSH18 | Long             | DBT              | CORP              | US        |  14921000 | PA      | $14533054.00  | 1.68%             | 2026-03-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| PITNEY-BOWES INC                                    | PITNEY-BOWES INC CONV 1.5% 08/15/2030 144A                | CUSIP: 724479AR1<br>LEI: 549300N2O26NW4ST6W55 | Long             | DBT              | CORP              | US        |  17500000 | PA      | $16852500.00  | 1.95%             | 2030-08-15      | Fixed         | 0.01%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-30

**Name of Applicant:** Heather Bonner

**Signature:** Heather Bonner

**Name of Signer:** Heather Bonner

**Title:** President and Treasurer