# EDGAR Filing Document

**Accession Number:** 0001494530
**File Stem:** 0001752724-23-073744
**Filing Date:** 2023-3
**Character Count:** 265527
**Document Hash:** e2820f60c1be164e8e38569cad0c3130
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-073744.hdr.sgml**: 20230330

**ACCESSION NUMBER**: 0001752724-23-073744

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230330

**DATE AS OF CHANGE**: 20230330

**PERIOD START**: 20231031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FIRST TRUST HIGH INCOME LONG/SHORT FUND
- **CENTRAL INDEX KEY:** 0001494530
- **IRS NUMBER:** 273072807
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22442
- **FILM NUMBER:** 23778351

**BUSINESS ADDRESS:**
- **STREET 1:** 120 EAST LIBERTY DRIVE, SUITE 400
- **CITY:** WHEATON
- **STATE:** IL
- **ZIP:** 60187
- **BUSINESS PHONE:** 630-765-8000

**MAIL ADDRESS:**
- **STREET 1:** 120 EAST LIBERTY DRIVE, SUITE 400
- **CITY:** WHEATON
- **STATE:** IL
- **ZIP:** 60187

## Nport-Ex

#### First Trust High Income Long/Short Fund (FSD)<br>

#### Portfolio of Investments

#### January 31, 2023 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value** |
| **CORPORATE BONDS AND NOTES – 97.5%** | **CORPORATE BONDS AND NOTES – 97.5%** | **CORPORATE BONDS AND NOTES – 97.5%** | **CORPORATE BONDS AND NOTES – 97.5%** | **CORPORATE BONDS AND NOTES – 97.5%** |
|  | **Automotive – 4.6%** |  |  |  |
| &nbsp;&nbsp;&nbsp;$2300000 | Dana, Inc. (a)<br>| 4.50% | 02/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1942592 |
| &nbsp;&nbsp;&nbsp;&nbsp;1185000 | Energizer Holdings, Inc. (b)<br>| 4.38% | 03/31/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1030624 |
| &nbsp;&nbsp;&nbsp;&nbsp;1100000 | Ford Motor Credit Co., LLC<br>| 5.58% | 03/18/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1093357 |
| &nbsp;&nbsp;&nbsp;&nbsp;1400000 | Ford Motor Credit Co., LLC (a)<br>| 5.13% | 06/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1377452 |
| &nbsp;&nbsp;&nbsp;&nbsp;1260000 | Ford Motor Credit Co., LLC<br>| 6.95% | 03/06/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1289944 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Ford Motor Credit Co., LLC<br>| 4.95% | 05/28/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;955568 |
| &nbsp;&nbsp;&nbsp;&nbsp;2205000 | Ford Motor Credit Co., LLC (a)<br>| 4.13% | 08/17/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2036957 |
| &nbsp;&nbsp;&nbsp;&nbsp;5000000 | Ford Motor Credit Co., LLC (a)<br>| 5.11% | 05/03/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4745487 |
| &nbsp;&nbsp;&nbsp;&nbsp;2000000 | Ford Motor Credit Co., LLC<br>| 7.35% | 03/06/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2101760 |
| &nbsp;&nbsp;&nbsp;&nbsp;1950000 | Gates Global LLC/Gates Corp. (b)<br>| 6.25% | 01/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1922988 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;710000 | Goodyear Tire & Rubber (The) Co.<br>| 4.88% | 03/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;665625 |
| &nbsp;&nbsp;&nbsp;&nbsp;1135000 | Thor Industries, Inc. (b)<br>| 4.00% | 10/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;945194 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20107548 |
|  | **Basic Industry – 6.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;435000 | Avient Corp. (a) (b)<br>| 7.13% | 08/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;438795 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;645000 | Brundage-Bone Concrete Pumping Holdings, Inc. (a) (b)<br>| 6.00% | 02/01/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;615714 |
| &nbsp;&nbsp;&nbsp;&nbsp;1450000 | Camelot Return Merger Sub, Inc. (a) (b)<br>| 8.75% | 08/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1365175 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320000 | Carpenter Technology Corp.<br>| 6.38% | 07/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315557 |
| &nbsp;&nbsp;&nbsp;&nbsp;1276000 | Carpenter Technology Corp. (a)<br>| 7.63% | 03/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1311218 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;655000 | Compass Minerals International, Inc. (b)<br>| 4.88% | 07/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;635398 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;628000 | Compass Minerals International, Inc. (b)<br>| 6.75% | 12/01/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;613442 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;995000 | Cornerstone Building Brands, Inc. (b)<br>| 6.13% | 01/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;746583 |
| &nbsp;&nbsp;&nbsp;&nbsp;2540000 | Dycom Industries, Inc. (a) (b)<br>| 4.50% | 04/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2277173 |
| &nbsp;&nbsp;&nbsp;&nbsp;1150000 | Foundation Building Materials, Inc. (b)<br>| 6.00% | 03/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;926394 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900000 | Great Lakes Dredge & Dock Corp. (b)<br>| 5.25% | 06/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;759636 |
| &nbsp;&nbsp;&nbsp;&nbsp;2107000 | Innophos Holdings, Inc. (a) (b)<br>| 9.38% | 02/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2080578 |
| &nbsp;&nbsp;&nbsp;&nbsp;2445000 | JELD-WEN, Inc. (a) (b)<br>| 4.88% | 12/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000988 |
| &nbsp;&nbsp;&nbsp;&nbsp;1820000 | LGI Homes, Inc. (a) (b)<br>| 4.00% | 07/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1476793 |
| &nbsp;&nbsp;&nbsp;&nbsp;1855000 | Meritage Homes Corp. (a)<br>| 6.00% | 06/01/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1866891 |
| &nbsp;&nbsp;&nbsp;&nbsp;1125000 | Novelis Corp. (b)<br>| 3.25% | 11/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1019998 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;885000 | Novelis Corp. (b)<br>| 3.88% | 08/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;748281 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385000 | Olympus Water US Holding Corp. (b)<br>| 4.25% | 10/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;323520 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;305000 | Rain CII Carbon LLC/CII Carbon Corp. (b)<br>| 7.25% | 04/01/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;287283 |
| &nbsp;&nbsp;&nbsp;&nbsp;1145000 | Standard Industries, Inc./NJ (b)<br>| 4.38% | 07/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;980087 |
| &nbsp;&nbsp;&nbsp;&nbsp;1390000 | TopBuild Corp. (a) (b)<br>| 4.13% | 02/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1180819 |
| &nbsp;&nbsp;&nbsp;&nbsp;3765000 | TRI Pointe Group, Inc./TRI Pointe Homes, Inc. (a)<br>| 5.88% | 06/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3756284 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;770000 | Weekley Homes LLC/Weekley Finance Corp. (b)<br>| 4.88% | 09/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;671144 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;805000 | White Cap Parent LLC (b) (c)<br>| 8.25% | 03/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;735645 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27133396 |
|  | **Capital Goods – 4.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1065000 | Amsted Industries, Inc. (a) (b)<br>| 5.63% | 07/01/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1047694 |
| &nbsp;&nbsp;&nbsp;&nbsp;2009000 | Ball Corp.<br>| 6.88% | 03/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2074553 |
| &nbsp;&nbsp;&nbsp;&nbsp;1589000 | Berry Global, Inc. (a) (b)<br>| 4.50% | 02/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1543709 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;580000 | Chart Industries, Inc. (b)<br>| 7.50% | 01/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;593775 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;936000 | Crown Americas LLC<br>| 5.25% | 04/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;901878 |
| &nbsp;&nbsp;&nbsp;&nbsp;1470000 | EnerSys (a) (b)<br>| 4.38% | 12/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1359456 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;985000 | Graphic Packaging International LLC (a) (b)<br>| 3.75% | 02/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;854058 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81000 | Howmet Aerospace, Inc.<br>| 6.88% | 05/01/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83529 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;984000 | Owens-Brockway Glass Container, Inc. (b)<br>| 6.63% | 05/13/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;966035 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320000 | Sealed Air Corp. (b)<br>| 6.13% | 02/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;323168 |
| &nbsp;&nbsp;&nbsp;&nbsp;1600000 | TK Elevator US Newco, Inc. (a) (b)<br>| 5.25% | 07/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1483152 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625000 | TransDigm, Inc. (b)<br>| 8.00% | 12/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;637894 |
| &nbsp;&nbsp;&nbsp;&nbsp;1085000 | TransDigm, Inc. (a) (b)<br>| 6.25% | 03/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1085844 |

---

------

#### First Trust High Income Long/Short Fund (FSD)<br>

#### Portfolio of Investments (Continued)

#### January 31, 2023 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value** |
| **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** |
|  | **Capital Goods (Continued)** |  |  |  |
| &nbsp;&nbsp;&nbsp;$1800000 | TransDigm, Inc. (a)<br>| 6.38% | 06/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1779840 |
| &nbsp;&nbsp;&nbsp;&nbsp;2305000 | TransDigm, Inc. (a)<br>| 5.50% | 11/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2203789 |
| &nbsp;&nbsp;&nbsp;&nbsp;2515000 | TriMas Corp. (a) (b)<br>| 4.13% | 04/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2241758 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19180132 |
|  | **Consumer Goods – 6.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2245000 | CD&R Smokey Buyer, Inc. (a) (b)<br>| 6.75% | 07/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2048563 |
| &nbsp;&nbsp;&nbsp;&nbsp;3545000 | Darling Ingredients, Inc. (a) (b)<br>| 5.25% | 04/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3461444 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;665000 | Darling Ingredients, Inc. (b)<br>| 6.00% | 06/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;662516 |
| &nbsp;&nbsp;&nbsp;&nbsp;2120000 | Edgewell Personal Care Co. (a) (b)<br>| 5.50% | 06/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2010131 |
| &nbsp;&nbsp;&nbsp;&nbsp;1605000 | Kronos Acquisition Holdings, Inc./KIK Custom Products, Inc. (a) (b)<br>| 5.00% | 12/31/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1458985 |
| &nbsp;&nbsp;&nbsp;&nbsp;3149000 | Kronos Acquisition Holdings, Inc./KIK Custom Products, Inc. (a) (b)<br>| 7.00% | 12/31/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2748621 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;288000 | Lamb Weston Holdings, Inc. (b)<br>| 4.88% | 05/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;278910 |
| &nbsp;&nbsp;&nbsp;&nbsp;1585000 | Mattel, Inc. (a) (b)<br>| 5.88% | 12/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1582987 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;940000 | Newell Brands, Inc.<br>| 6.38% | 09/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;945964 |
| &nbsp;&nbsp;&nbsp;&nbsp;1000000 | Performance Food Group, Inc. (b)<br>| 4.25% | 08/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;893640 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625000 | Post Holdings, Inc. (a) (b)<br>| 5.75% | 03/01/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;616431 |
| &nbsp;&nbsp;&nbsp;&nbsp;3510000 | Post Holdings, Inc. (b)<br>| 4.63% | 04/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3092731 |
| &nbsp;&nbsp;&nbsp;&nbsp;3300000 | Primo Water Holdings, Inc. (a) (b)<br>| 4.38% | 04/30/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2883441 |
| &nbsp;&nbsp;&nbsp;&nbsp;1100000 | Simmons Foods, Inc./Simmons Prepared Foods, Inc./Simmons Pet Food, Inc./Simmons Feed (b)<br>| 4.63% | 03/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;934109 |
| &nbsp;&nbsp;&nbsp;&nbsp;1400000 | Spectrum Brands, Inc.<br>| 5.75% | 07/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1389954 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;740000 | Triton Water Holdings, Inc. (b)<br>| 6.25% | 04/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;588210 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;670000 | US Foods, Inc. (b)<br>| 4.63% | 06/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600619 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26197256 |
|  | **Energy – 19.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1200000 | Aethon United BR L.P./Aethon United Finance Corp. (b)<br>| 8.25% | 02/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1195608 |
| &nbsp;&nbsp;&nbsp;&nbsp;1560000 | Ascent Resources Utica Holdings LLC/ARU Finance Corp. (a) (b)<br>| 7.00% | 11/01/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1488954 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;970000 | Ascent Resources Utica Holdings LLC/ARU Finance Corp. (a) (b)<br>| 8.25% | 12/31/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;951286 |
| &nbsp;&nbsp;&nbsp;&nbsp;2624000 | Ascent Resources Utica Holdings LLC/ARU Finance Corp. (a) (b)<br>| 5.88% | 06/30/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2313108 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;640000 | Callon Petroleum Co. (a)<br>| 6.38% | 07/01/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;617057 |
| &nbsp;&nbsp;&nbsp;&nbsp;1310000 | Callon Petroleum Co. (b)<br>| 7.50% | 06/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1269135 |
| &nbsp;&nbsp;&nbsp;&nbsp;2555000 | Cheniere Energy Partners L.P. (a)<br>| 4.50% | 10/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400704 |
| &nbsp;&nbsp;&nbsp;&nbsp;1020000 | Cheniere Energy, Inc.<br>| 4.63% | 10/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;972473 |
| &nbsp;&nbsp;&nbsp;&nbsp;1100000 | CNX Midstream Partners L.P. (a) (b)<br>| 4.75% | 04/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;932404 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192000 | CNX Resources Corp. (b)<br>| 7.25% | 03/14/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;191316 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;822000 | CNX Resources Corp. (b)<br>| 6.00% | 01/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;755859 |
| &nbsp;&nbsp;&nbsp;&nbsp;2050000 | Comstock Resources, Inc. (a) (b)<br>| 6.75% | 03/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1893872 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;391000 | Continental Resources, Inc./OK<br>| 4.38% | 01/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;372347 |
| &nbsp;&nbsp;&nbsp;&nbsp;1025000 | CrownRock L.P./CrownRock Finance, Inc. (b)<br>| 5.00% | 05/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;940001 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;934000 | DCP Midstream Operating L.P.<br>| 5.13% | 05/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;932132 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;695000 | DCP Midstream Operating L.P.<br>| 3.25% | 02/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;601634 |
| &nbsp;&nbsp;&nbsp;&nbsp;2650000 | Delek Logistics Partners LP/Delek Logistics Finance Corp. (a) (b)<br>| 7.13% | 06/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2434358 |
| &nbsp;&nbsp;&nbsp;&nbsp;1200000 | DT Midstream, Inc. (b)<br>| 4.13% | 06/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1054962 |
| &nbsp;&nbsp;&nbsp;&nbsp;5140000 | Endeavor Energy Resources L.P./EER Finance, Inc. (a) (b)<br>| 5.75% | 01/30/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5042340 |
| &nbsp;&nbsp;&nbsp;&nbsp;1900000 | EnLink Midstream LLC (a) (b)<br>| 5.63% | 01/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1859340 |
| &nbsp;&nbsp;&nbsp;&nbsp;2335000 | EnLink Midstream LLC (a)<br>| 5.38% | 06/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2253275 |
| &nbsp;&nbsp;&nbsp;&nbsp;1825000 | EQM Midstream Partners L.P. (a) (b)<br>| 6.50% | 07/01/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1794413 |
| &nbsp;&nbsp;&nbsp;&nbsp;1700000 | EQM Midstream Partners L.P. (a)<br>| 5.50% | 07/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1570239 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132000 | EQM Midstream Partners L.P. (b)<br>| 7.50% | 06/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132005 |
| &nbsp;&nbsp;&nbsp;&nbsp;3620000 | EQM Midstream Partners L.P. (a) (b)<br>| 4.75% | 01/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3066819 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;791000 | Hess Midstream Operations L.P. (b)<br>| 5.63% | 02/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;784130 |

---

------

#### First Trust High Income Long/Short Fund (FSD)<br>

#### Portfolio of Investments (Continued)

#### January 31, 2023 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value** |
| **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** |
|  | **Energy (Continued)** |  |  |  |
| &nbsp;&nbsp;&nbsp;$1040000 | Hess Midstream Operations L.P. (a) (b)<br>| &nbsp;&nbsp;&nbsp;4.25% | 02/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$912275 |
| &nbsp;&nbsp;&nbsp;&nbsp;1845000 | Hilcorp Energy I L.P./Hilcorp Finance Co. (a) (b)<br>| &nbsp;&nbsp;&nbsp;5.75% | 02/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1718119 |
| &nbsp;&nbsp;&nbsp;&nbsp;1320000 | Hilcorp Energy I L.P./Hilcorp Finance Co. (a) (b)<br>| &nbsp;&nbsp;&nbsp;6.00% | 02/01/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1225554 |
| &nbsp;&nbsp;&nbsp;&nbsp;1145000 | Holly Energy Partners L.P./Holly Energy Finance Corp. (b)<br>| &nbsp;&nbsp;&nbsp;6.38% | 04/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1133407 |
| &nbsp;&nbsp;&nbsp;&nbsp;1800000 | Moss Creek Resources Holdings, Inc. (b)<br>| &nbsp;&nbsp;&nbsp;7.50% | 01/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1665306 |
| &nbsp;&nbsp;&nbsp;&nbsp;1130000 | Nabors Industries, Inc. (b)<br>| &nbsp;&nbsp;&nbsp;7.38% | 05/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1132972 |
| &nbsp;&nbsp;&nbsp;&nbsp;4280000 | Occidental Petroleum Corp. (a)<br>| &nbsp;&nbsp;&nbsp;8.50% | 07/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4740057 |
| &nbsp;&nbsp;&nbsp;&nbsp;3070000 | Occidental Petroleum Corp. (a)<br>| &nbsp;&nbsp;&nbsp;6.63% | 09/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3262819 |
| &nbsp;&nbsp;&nbsp;&nbsp;1310000 | PBF Holding Co., LLC/PBF Finance Corp.<br>| &nbsp;&nbsp;&nbsp;7.25% | 06/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1306830 |
| &nbsp;&nbsp;&nbsp;&nbsp;1250000 | PBF Holding Co., LLC/PBF Finance Corp.<br>| &nbsp;&nbsp;&nbsp;6.00% | 02/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1180269 |
| &nbsp;&nbsp;&nbsp;&nbsp;2626000 | Permian Resources Operating LLC (a) (b)<br>| &nbsp;&nbsp;&nbsp;6.88% | 04/01/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2576618 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;725000 | Rockcliff Energy II LLC (b)<br>| &nbsp;&nbsp;&nbsp;5.50% | 10/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;690660 |
| &nbsp;&nbsp;&nbsp;&nbsp;1913000 | SM Energy Co. (a)<br>| &nbsp;&nbsp;&nbsp;5.63% | 06/01/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1876921 |
| &nbsp;&nbsp;&nbsp;&nbsp;1470000 | SM Energy Co.<br>| &nbsp;&nbsp;&nbsp;6.50% | 07/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1400086 |
| &nbsp;&nbsp;&nbsp;&nbsp;1100000 | Southwestern Energy Co. (d)<br>| &nbsp;&nbsp;&nbsp;5.70% | 01/23/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1091915 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;730000 | Southwestern Energy Co.<br>| &nbsp;&nbsp;&nbsp;8.38% | 09/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;767580 |
| &nbsp;&nbsp;&nbsp;&nbsp;3265000 | Southwestern Energy Co. (a)<br>| &nbsp;&nbsp;&nbsp;5.38% | 03/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3045510 |
| &nbsp;&nbsp;&nbsp;&nbsp;1700000 | Southwestern Energy Co. (a)<br>| &nbsp;&nbsp;&nbsp;4.75% | 02/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500692 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;547000 | Sunoco L.P./Sunoco Finance Corp.<br>| &nbsp;&nbsp;&nbsp;4.50% | 05/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;495623 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;920000 | Tap Rock Resources LLC (b)<br>| &nbsp;&nbsp;&nbsp;7.00% | 10/01/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;872155 |
| &nbsp;&nbsp;&nbsp;&nbsp;2000000 | Targa Resources Partners L.P./Targa Resources Partners Finance Corp.<br>| &nbsp;&nbsp;&nbsp;5.00% | 01/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1953110 |
| &nbsp;&nbsp;&nbsp;&nbsp;1720000 | Venture Global Calcasieu Pass LLC (a) (b)<br>| &nbsp;&nbsp;&nbsp;3.88% | 08/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1533346 |
| &nbsp;&nbsp;&nbsp;&nbsp;1875000 | Venture Global Calcasieu Pass LLC (b)<br>| &nbsp;&nbsp;&nbsp;6.25% | 01/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1912266 |
| &nbsp;&nbsp;&nbsp;&nbsp;2645000 | Venture Global Calcasieu Pass LLC (a) (b)<br>| &nbsp;&nbsp;&nbsp;4.13% | 08/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2348773 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;905000 | Venture Global Calcasieu Pass LLC (a) (b)<br>| &nbsp;&nbsp;&nbsp;3.88% | 11/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;769929 |
| &nbsp;&nbsp;&nbsp;&nbsp;1575000 | Vital Energy, Inc. (a)<br>| &nbsp;&nbsp;&nbsp;9.50% | 01/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1591254 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210000 | Vital Energy, Inc.<br>| 10.13% | 01/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;209220 |
| &nbsp;&nbsp;&nbsp;&nbsp;1785000 | Vital Energy, Inc. (a) (b)<br>| &nbsp;&nbsp;&nbsp;7.75% | 07/31/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1648224 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;909000 | Western Midstream Operating L.P.<br>| &nbsp;&nbsp;&nbsp;4.50% | 03/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;860023 |
| &nbsp;&nbsp;&nbsp;&nbsp;1251000 | Western Midstream Operating L.P. (d)<br>| &nbsp;&nbsp;&nbsp;4.30% | 02/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1147517 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84388801 |
|  | **Financial Services – 2.9%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | Block, Inc.<br>| &nbsp;&nbsp;&nbsp;3.50% | 06/01/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;585544 |
| &nbsp;&nbsp;&nbsp;&nbsp;1150000 | Fortress Transportation and Infrastructure Investors LLC (b)<br>| &nbsp;&nbsp;&nbsp;6.50% | 10/01/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1114638 |
| &nbsp;&nbsp;&nbsp;&nbsp;2635000 | Fortress Transportation and Infrastructure Investors LLC (a) (b)<br>| &nbsp;&nbsp;&nbsp;5.50% | 05/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2322486 |
| &nbsp;&nbsp;&nbsp;&nbsp;2100000 | Icahn Enterprises L.P./Icahn Enterprises Finance Corp. (a)<br>| &nbsp;&nbsp;&nbsp;5.25% | 05/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1958071 |
| &nbsp;&nbsp;&nbsp;&nbsp;1395000 | LPL Holdings, Inc. (a) (b)<br>| &nbsp;&nbsp;&nbsp;4.63% | 11/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1329086 |
| &nbsp;&nbsp;&nbsp;&nbsp;1330000 | MSCI, Inc. (b)<br>| &nbsp;&nbsp;&nbsp;3.88% | 02/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1175507 |
| &nbsp;&nbsp;&nbsp;&nbsp;1540000 | OneMain Finance Corp.<br>| &nbsp;&nbsp;&nbsp;6.13% | 03/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1528758 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;610000 | OneMain Finance Corp.<br>| &nbsp;&nbsp;&nbsp;3.50% | 01/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;531356 |
| &nbsp;&nbsp;&nbsp;&nbsp;1225000 | PennyMac Financial Services, Inc. (b)<br>| &nbsp;&nbsp;&nbsp;5.38% | 10/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1141173 |
| &nbsp;&nbsp;&nbsp;&nbsp;1240000 | Rocket Mortgage LLC/Rocket Mortgage Co-Issuer, Inc. (b)<br>| &nbsp;&nbsp;&nbsp;3.63% | 03/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1047763 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12734382 |
|  | **Healthcare – 7.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3065000 | Avantor Funding, Inc. (a) (b)<br>| &nbsp;&nbsp;&nbsp;3.88% | 11/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2698793 |
| &nbsp;&nbsp;&nbsp;&nbsp;2775000 | Carriage Services, Inc. (a) (b)<br>| &nbsp;&nbsp;&nbsp;4.25% | 05/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2286933 |
| &nbsp;&nbsp;&nbsp;&nbsp;1300000 | Catalent Pharma Solutions, Inc. (b)<br>| &nbsp;&nbsp;&nbsp;3.13% | 02/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1077381 |
| &nbsp;&nbsp;&nbsp;&nbsp;1365000 | Catalent Pharma Solutions, Inc. (a) (b)<br>| &nbsp;&nbsp;&nbsp;3.50% | 04/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1129599 |
| &nbsp;&nbsp;&nbsp;&nbsp;4010000 | Centene Corp. (a)<br>| &nbsp;&nbsp;&nbsp;4.63% | 12/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3814673 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;985000 | CHS/Community Health Systems, Inc. (b)<br>| &nbsp;&nbsp;&nbsp;6.00% | 01/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;865874 |
| &nbsp;&nbsp;&nbsp;&nbsp;2250000 | CHS/Community Health Systems, Inc. (a) (b)<br>| &nbsp;&nbsp;&nbsp;5.25% | 05/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1818427 |
| &nbsp;&nbsp;&nbsp;&nbsp;1250000 | Elanco Animal Health, Inc. (e)<br>| &nbsp;&nbsp;&nbsp;6.40% | 08/28/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1226500 |

---

------

#### First Trust High Income Long/Short Fund (FSD)<br>

#### Portfolio of Investments (Continued)

#### January 31, 2023 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value** |
| **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** |
|  | **Healthcare (Continued)** |  |  |  |
| &nbsp;&nbsp;&nbsp;$1405000 | Encompass Health Corp.<br>| &nbsp;&nbsp;&nbsp;4.50% | 02/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1313464 |
| &nbsp;&nbsp;&nbsp;&nbsp;1495000 | HCA, Inc. (a)<br>| &nbsp;&nbsp;&nbsp;5.88% | 02/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1522348 |
| &nbsp;&nbsp;&nbsp;&nbsp;1495000 | HCA, Inc. (a)<br>| &nbsp;&nbsp;&nbsp;5.88% | 02/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1538992 |
| &nbsp;&nbsp;&nbsp;&nbsp;1665000 | HealthEquity, Inc. (a) (b)<br>| &nbsp;&nbsp;&nbsp;4.50% | 10/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1492756 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;885000 | PRA Health Sciences, Inc. (b)<br>| &nbsp;&nbsp;&nbsp;2.88% | 07/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;810956 |
| &nbsp;&nbsp;&nbsp;&nbsp;1325000 | Prestige Brands, Inc. (a) (b)<br>| &nbsp;&nbsp;&nbsp;5.13% | 01/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1267038 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;990000 | Prestige Brands, Inc. (b)<br>| &nbsp;&nbsp;&nbsp;3.75% | 04/01/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;841965 |
| &nbsp;&nbsp;&nbsp;&nbsp;4750000 | Service Corp International (a)<br>| &nbsp;&nbsp;&nbsp;7.50% | 04/01/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4965017 |
| &nbsp;&nbsp;&nbsp;&nbsp;1730000 | Teleflex, Inc. (a) (b)<br>| &nbsp;&nbsp;&nbsp;4.25% | 06/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1597821 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175000 | Tenet Healthcare Corp.<br>| &nbsp;&nbsp;&nbsp;4.38% | 01/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155822 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;778000 | Tenet Healthcare Corp. (b)<br>| &nbsp;&nbsp;&nbsp;6.13% | 06/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;756119 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31180478 |
|  | **Insurance – 0.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;505000 | NMI Holdings, Inc. (b)<br>| &nbsp;&nbsp;&nbsp;7.38% | 06/01/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;511275 |
|  | **Leisure – 5.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1730000 | Affinity Gaming (a) (b)<br>| &nbsp;&nbsp;&nbsp;6.88% | 12/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1551282 |
| &nbsp;&nbsp;&nbsp;&nbsp;1790000 | Boyd Gaming Corp. (a)<br>| &nbsp;&nbsp;&nbsp;4.75% | 12/01/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1703503 |
| &nbsp;&nbsp;&nbsp;&nbsp;1290000 | Caesars Entertainment, Inc. (a) (b)<br>| &nbsp;&nbsp;&nbsp;6.25% | 07/01/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1286321 |
| &nbsp;&nbsp;&nbsp;&nbsp;1055000 | Caesars Resort Collection LLC/CRC Finco, Inc. (a) (b)<br>| &nbsp;&nbsp;&nbsp;5.75% | 07/01/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1056408 |
| &nbsp;&nbsp;&nbsp;&nbsp;3775000 | Carnival Holdings Bermuda Ltd. (b)<br>| 10.38% | 05/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4082568 |
| &nbsp;&nbsp;&nbsp;&nbsp;1470000 | CDI Escrow Issuer, Inc. (a) (b)<br>| &nbsp;&nbsp;&nbsp;5.75% | 04/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1394802 |
| &nbsp;&nbsp;&nbsp;&nbsp;1200000 | Everi Holdings, Inc. (b)<br>| &nbsp;&nbsp;&nbsp;5.00% | 07/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1087410 |
| &nbsp;&nbsp;&nbsp;&nbsp;1800000 | Hilton Domestic Operating Co., Inc. (a)<br>| &nbsp;&nbsp;&nbsp;4.88% | 01/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1699328 |
| &nbsp;&nbsp;&nbsp;&nbsp;1725000 | Hilton Domestic Operating Co., Inc. (a) (b)<br>| &nbsp;&nbsp;&nbsp;4.00% | 05/01/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1497231 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | Park Intermediate Holdings LLC/PK Domestic Property LLC/PK Finance Co-Issuer (b)<br>| &nbsp;&nbsp;&nbsp;5.88% | 10/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;648634 |
| &nbsp;&nbsp;&nbsp;&nbsp;2650000 | Park Intermediate Holdings LLC/PK Domestic Property LLC/PK Finance Co-Issuer (a) (b)<br>| &nbsp;&nbsp;&nbsp;4.88% | 05/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2294253 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;524000 | Penn Entertainment, Inc. (b)<br>| &nbsp;&nbsp;&nbsp;4.13% | 07/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;432986 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;765000 | Scientific Games Holdings L.P./Scientific Games US FinCo, Inc. (b)<br>| &nbsp;&nbsp;&nbsp;6.63% | 03/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;682380 |
| &nbsp;&nbsp;&nbsp;&nbsp;2700000 | Scientific Games International, Inc. (a) (b)<br>| &nbsp;&nbsp;&nbsp;7.00% | 05/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2676641 |
| &nbsp;&nbsp;&nbsp;&nbsp;1550000 | Station Casinos LLC (b)<br>| &nbsp;&nbsp;&nbsp;4.50% | 02/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1397356 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325000 | Station Casinos LLC (b)<br>| &nbsp;&nbsp;&nbsp;4.63% | 12/01/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;274310 |
| &nbsp;&nbsp;&nbsp;&nbsp;1485000 | Wynn Resorts Finance LLC/Wynn Resorts Capital Corp. (b)<br>| &nbsp;&nbsp;&nbsp;5.13% | 10/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1327226 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25092639 |
|  | **Media – 11.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1235000 | Arches Buyer, Inc. (a) (b)<br>| &nbsp;&nbsp;&nbsp;4.25% | 06/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1039049 |
| &nbsp;&nbsp;&nbsp;&nbsp;2300000 | Arches Buyer, Inc. (a) (b)<br>| &nbsp;&nbsp;&nbsp;6.13% | 12/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1940349 |
| &nbsp;&nbsp;&nbsp;&nbsp;1850000 | CCO Holdings LLC/CCO Holdings Capital Corp. (a) (b)<br>| &nbsp;&nbsp;&nbsp;5.50% | 05/01/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1819974 |
| &nbsp;&nbsp;&nbsp;&nbsp;6100000 | CCO Holdings LLC/CCO Holdings Capital Corp. (b)<br>| &nbsp;&nbsp;&nbsp;5.13% | 05/01/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5820681 |
| &nbsp;&nbsp;&nbsp;&nbsp;2380000 | CCO Holdings LLC/CCO Holdings Capital Corp. (b)<br>| &nbsp;&nbsp;&nbsp;5.38% | 06/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2204154 |
| &nbsp;&nbsp;&nbsp;&nbsp;1605000 | CCO Holdings LLC/CCO Holdings Capital Corp. (b)<br>| &nbsp;&nbsp;&nbsp;6.38% | 09/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1550663 |
| &nbsp;&nbsp;&nbsp;&nbsp;3330000 | CCO Holdings LLC/CCO Holdings Capital Corp. (a) (b)<br>| &nbsp;&nbsp;&nbsp;4.75% | 03/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2913750 |
| &nbsp;&nbsp;&nbsp;&nbsp;3500000 | CSC Holdings LLC (a)<br>| &nbsp;&nbsp;&nbsp;5.25% | 06/01/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3430000 |
| &nbsp;&nbsp;&nbsp;&nbsp;2325000 | CSC Holdings LLC (a) (b)<br>| &nbsp;&nbsp;&nbsp;5.50% | 04/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2050650 |
| &nbsp;&nbsp;&nbsp;&nbsp;1350000 | CSC Holdings LLC (b)<br>| &nbsp;&nbsp;&nbsp;5.75% | 01/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;852221 |
| &nbsp;&nbsp;&nbsp;&nbsp;2230000 | CSC Holdings LLC (a) (b)<br>| &nbsp;&nbsp;&nbsp;4.63% | 12/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1321203 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;745000 | Diamond Sports Group LLC/Diamond Sports Finance Co. (b)<br>| &nbsp;&nbsp;&nbsp;5.38% | 08/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55409 |
| &nbsp;&nbsp;&nbsp;&nbsp;2655000 | Directv Financing LLC/Directv Financing Co-Obligor, Inc. (a) (b)<br>| &nbsp;&nbsp;&nbsp;5.88% | 08/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2408828 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900000 | DISH DBS Corp.<br>| &nbsp;&nbsp;&nbsp;5.88% | 11/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;850500 |
| &nbsp;&nbsp;&nbsp;&nbsp;1140000 | DISH DBS Corp. (b)<br>| &nbsp;&nbsp;&nbsp;5.25% | 12/01/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;984675 |

---

------

#### First Trust High Income Long/Short Fund (FSD)<br>

#### Portfolio of Investments (Continued)

#### January 31, 2023 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value** |
| **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** |
|  | **Media (Continued)** |  |  |  |
| &nbsp;&nbsp;&nbsp;$1273000 | DISH DBS Corp.<br>| 7.38% | 07/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$916280 |
| &nbsp;&nbsp;&nbsp;&nbsp;1255000 | iHeartCommunications, Inc. (a) (b)<br>| 5.25% | 08/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1125609 |
| &nbsp;&nbsp;&nbsp;&nbsp;1250000 | iHeartCommunications, Inc. (a) (b)<br>| 4.75% | 01/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1070347 |
| &nbsp;&nbsp;&nbsp;&nbsp;2185000 | Lamar Media Corp. (a)<br>| 4.00% | 02/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1947490 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900000 | Match Group Holdings II LLC (b)<br>| 3.63% | 10/01/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;723415 |
| &nbsp;&nbsp;&nbsp;&nbsp;3100000 | Netflix, Inc.<br>| 4.88% | 04/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3092327 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;945000 | News Corp. (b)<br>| 3.88% | 05/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;846852 |
| &nbsp;&nbsp;&nbsp;&nbsp;1480000 | News Corp. (b)<br>| 5.13% | 02/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1395337 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;920000 | Nexstar Media, Inc. (b)<br>| 5.63% | 07/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;877662 |
| &nbsp;&nbsp;&nbsp;&nbsp;2175000 | Sirius XM Radio, Inc. (a) (b)<br>| 4.13% | 07/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1867923 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;410000 | TEGNA, Inc.<br>| 4.63% | 03/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385272 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;655000 | TripAdvisor, Inc. (b)<br>| 7.00% | 07/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;658403 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;880000 | Univision Communications, Inc. (b)<br>| 4.50% | 05/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;758358 |
| &nbsp;&nbsp;&nbsp;&nbsp;3370000 | Warnermedia Holdings, Inc. (a) (b)<br>| 3.76% | 03/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3160183 |
| &nbsp;&nbsp;&nbsp;&nbsp;1490000 | WMG Acquisition Corp. (b)<br>| 3.75% | 12/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1306078 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49373642 |
|  | **Real Estate – 3.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1199000 | Iron Mountain, Inc. (a) (b)<br>| 4.88% | 09/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1130429 |
| &nbsp;&nbsp;&nbsp;&nbsp;1845000 | Iron Mountain, Inc. (a) (b)<br>| 5.25% | 03/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1756643 |
| &nbsp;&nbsp;&nbsp;&nbsp;1480000 | Iron Mountain, Inc. (b)<br>| 5.25% | 07/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1341206 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;825000 | Iron Mountain, Inc. (b)<br>| 4.50% | 02/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;708032 |
| &nbsp;&nbsp;&nbsp;&nbsp;1500000 | SBA Communications Corp.<br>| 3.88% | 02/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1387531 |
| &nbsp;&nbsp;&nbsp;&nbsp;1840000 | SBA Communications Corp.<br>| 3.13% | 02/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1561125 |
| &nbsp;&nbsp;&nbsp;&nbsp;1934000 | Service Properties Trust (a)<br>| 7.50% | 09/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1904110 |
| &nbsp;&nbsp;&nbsp;&nbsp;2295000 | VICI Properties L.P./VICI Note Co., Inc. (b)<br>| 5.63% | 05/01/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2293012 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360000 | VICI Properties L.P./VICI Note Co., Inc. (b)<br>| 3.50% | 02/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;343001 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375000 | VICI Properties L.P./VICI Note Co., Inc. (b)<br>| 4.25% | 12/01/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;354390 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;925000 | XHR L.P. (b)<br>| 4.88% | 06/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;822038 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13601517 |
|  | **Retail – 5.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3490000 | Albertsons Cos, Inc./Safeway, Inc./New Albertsons L.P./Albertsons LLC (a) (b)<br>| 3.50% | 03/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3015587 |
| &nbsp;&nbsp;&nbsp;&nbsp;2150000 | Arko Corp. (a) (b)<br>| 5.13% | 11/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1707885 |
| &nbsp;&nbsp;&nbsp;&nbsp;1430000 | Asbury Automotive Group, Inc. (a)<br>| 4.50% | 03/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1294288 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;817000 | Bath & Body Works, Inc. (b)<br>| 9.38% | 07/01/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;875346 |
| &nbsp;&nbsp;&nbsp;&nbsp;1900000 | Bath & Body Works, Inc.<br>| 7.50% | 06/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1929963 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;555000 | Group 1 Automotive, Inc. (b)<br>| 4.00% | 08/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;488830 |
| &nbsp;&nbsp;&nbsp;&nbsp;2000000 | Hanesbrands, Inc. (a) (b)<br>| 4.63% | 05/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1967570 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | LCM Investments Holdings II LLC (b)<br>| 4.88% | 05/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;578749 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;620000 | Michaels Cos (The), Inc. (b)<br>| 7.88% | 05/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;471975 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;875000 | Nordstrom, Inc.<br>| 4.38% | 04/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;703207 |
| &nbsp;&nbsp;&nbsp;&nbsp;2795000 | Sonic Automotive, Inc. (a) (b)<br>| 4.63% | 11/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2326558 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;825000 | Sonic Automotive, Inc. (b)<br>| 4.88% | 11/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;660000 |
| &nbsp;&nbsp;&nbsp;&nbsp;2615000 | Victoria's Secret & Co. (a) (b)<br>| 4.63% | 07/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2176151 |
| &nbsp;&nbsp;&nbsp;&nbsp;1135000 | Yum! Brands, Inc. (b)<br>| 4.75% | 01/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1063081 |
| &nbsp;&nbsp;&nbsp;&nbsp;2950000 | Yum! Brands, Inc. (a)<br>| 5.38% | 04/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2802633 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22061823 |
|  | **Services – 10.5%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3225000 | Allied Universal Holdco LLC/Allied Universal Finance Corp. (a) (b)<br>| 6.63% | 07/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3108884 |
| &nbsp;&nbsp;&nbsp;&nbsp;1985000 | Allied Universal Holdco LLC/Allied Universal Finance Corp. (b)<br>| 9.75% | 07/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1898305 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;685000 | Allied Universal Holdco LLC/Allied Universal Finance Corp. (b)<br>| 6.00% | 06/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;552011 |

---

------

#### First Trust High Income Long/Short Fund (FSD)<br>

#### Portfolio of Investments (Continued)

#### January 31, 2023 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value** |
| **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** |
|  | **Services (Continued)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$680000 | Aramark Services, Inc. (a) (b)<br>| 6.38% | 05/01/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$681003 |
| &nbsp;&nbsp;&nbsp;&nbsp;1075000 | Aramark Services, Inc. (a) (b)<br>| 5.00% | 02/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1014692 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390000 | Avis Budget Car Rental LLC/Avis Budget Finance, Inc. (b)<br>| 5.38% | 03/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;349194 |
| &nbsp;&nbsp;&nbsp;&nbsp;1250000 | Brink's (The) Co. (a) (b)<br>| 5.50% | 07/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1232825 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625000 | Clarivate Science Holdings Corp. (a) (b)<br>| 3.88% | 07/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;558501 |
| &nbsp;&nbsp;&nbsp;&nbsp;1520000 | Clean Harbors, Inc. (a) (b)<br>| 4.88% | 07/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1468366 |
| &nbsp;&nbsp;&nbsp;&nbsp;2175000 | Covanta Holding Corp. (b)<br>| 4.88% | 12/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1903440 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;950000 | GYP Holdings III Corp. (a) (b)<br>| 4.63% | 05/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;805220 |
| &nbsp;&nbsp;&nbsp;&nbsp;3045000 | H&E Equipment Services, Inc. (a) (b)<br>| 3.88% | 12/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2683909 |
| &nbsp;&nbsp;&nbsp;&nbsp;3605000 | Herc Holdings, Inc. (a) (b)<br>| 5.50% | 07/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3456294 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750000 | Hertz (The) Corp. (b)<br>| 4.63% | 12/01/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;668437 |
| &nbsp;&nbsp;&nbsp;&nbsp;1450000 | Imola Merger Corp. (a) (b)<br>| 4.75% | 05/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1263588 |
| &nbsp;&nbsp;&nbsp;&nbsp;1330000 | LBM Acquisition LLC (a) (b)<br>| 6.25% | 01/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1012662 |
| &nbsp;&nbsp;&nbsp;&nbsp;1445000 | NESCO Holdings II, Inc. (a) (b)<br>| 5.50% | 04/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1299684 |
| &nbsp;&nbsp;&nbsp;&nbsp;1915000 | Prime Security Services Borrower LLC/Prime Finance, Inc. (a) (b)<br>| 3.38% | 08/31/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1701958 |
| &nbsp;&nbsp;&nbsp;&nbsp;1800000 | Sotheby's (a) (b)<br>| 7.38% | 10/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1731731 |
| &nbsp;&nbsp;&nbsp;&nbsp;2065000 | Sotheby's/Bidfair Holdings, Inc. (a) (b)<br>| 5.88% | 06/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1768848 |
| &nbsp;&nbsp;&nbsp;&nbsp;3000000 | Uber Technologies, Inc. (a) (b)<br>| 7.50% | 05/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3046824 |
| &nbsp;&nbsp;&nbsp;&nbsp;1850000 | United Rentals North America, Inc. (b)<br>| 6.00% | 12/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1880081 |
| &nbsp;&nbsp;&nbsp;&nbsp;2165000 | United Rentals North America, Inc. (a)<br>| 3.75% | 01/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1875085 |
| &nbsp;&nbsp;&nbsp;&nbsp;3065000 | WASH Multifamily Acquisition, Inc. (a) (b)<br>| 5.75% | 04/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2832116 |
| &nbsp;&nbsp;&nbsp;&nbsp;2500000 | Waste Pro USA, Inc. (a) (b)<br>| 5.50% | 02/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2327987 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;880000 | WESCO Distribution, Inc. (b)<br>| 7.13% | 06/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;895189 |
| &nbsp;&nbsp;&nbsp;&nbsp;1045000 | WESCO Distribution, Inc. (b)<br>| 7.25% | 06/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1071968 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225000 | White Cap Buyer LLC (b)<br>| 6.88% | 10/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205173 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;805000 | Williams Scotsman International, Inc. (a) (b)<br>| 6.13% | 06/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;809919 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;855000 | Williams Scotsman International, Inc. (b)<br>| 4.63% | 08/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;793243 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;640000 | ZoomInfo Technologies LLC/ZoomInfo Finance Corp. (b)<br>| 3.88% | 02/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;552854 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45449991 |
|  | **Technology & Electronics – 4.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900000 | Boxer Parent Co., Inc. (a) (b)<br>| 7.13% | 10/02/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;892378 |
| &nbsp;&nbsp;&nbsp;&nbsp;1760000 | Central Parent, Inc./CDK Global, Inc. (a) (b)<br>| 7.25% | 06/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1757717 |
| &nbsp;&nbsp;&nbsp;&nbsp;2380000 | CommScope, Inc. (a) (b)<br>| 6.00% | 03/01/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2281647 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;820000 | CommScope, Inc. (b)<br>| 8.25% | 03/01/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;698628 |
| &nbsp;&nbsp;&nbsp;&nbsp;1235000 | Dell International LLC/EMC Corp. (a)<br>| 8.35% | 07/05/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1492987 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;349000 | Endurance International Group Holdings, Inc. (b)<br>| 6.00% | 02/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;248466 |
| &nbsp;&nbsp;&nbsp;&nbsp;1900000 | Entegris, Inc. (a) (b)<br>| 4.38% | 04/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1721400 |
| &nbsp;&nbsp;&nbsp;&nbsp;3110000 | Fair Isaac Corp. (a) (b)<br>| 4.00% | 06/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2891585 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;934000 | NCR Corp. (b)<br>| 5.13% | 04/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;814816 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;585000 | Presidio Holdings, Inc. (b)<br>| 8.25% | 02/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;563308 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;580000 | PTC, Inc. (b)<br>| 3.63% | 02/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;556825 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;355000 | PTC, Inc. (b)<br>| 4.00% | 02/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;331133 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;690000 | SS&C Technologies, Inc. (b)<br>| 5.50% | 09/30/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;664421 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350000 | Twilio, Inc.<br>| 3.63% | 03/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;297619 |
| &nbsp;&nbsp;&nbsp;&nbsp;2320000 | Viavi Solutions, Inc. (a) (b)<br>| 3.75% | 10/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2027332 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17240262 |
|  | **Telecommunications – 2.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1200000 | Cable One, Inc. (a) (b)<br>| 4.00% | 11/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;991035 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;655000 | Cogent Communications Group, Inc. (a) (b)<br>| 3.50% | 05/01/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;607231 |
| &nbsp;&nbsp;&nbsp;&nbsp;1035000 | Cogent Communications Group, Inc. (b)<br>| 7.00% | 06/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1025768 |
| &nbsp;&nbsp;&nbsp;&nbsp;1765000 | Level 3 Financing, Inc. (b)<br>| 3.63% | 01/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1315807 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900000 | Level 3 Financing, Inc. (a) (b)<br>| 3.75% | 07/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;659061 |
| &nbsp;&nbsp;&nbsp;&nbsp;3685000 | Sprint LLC (a)<br>| 7.63% | 03/01/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3902199 |

---

------

#### First Trust High Income Long/Short Fund (FSD)<br>

#### Portfolio of Investments (Continued)

#### January 31, 2023 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value** |
| **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** |
|  | **Telecommunications (Continued)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$565000 | T-Mobile USA, Inc.<br>| &nbsp;&nbsp;&nbsp;2.25% | 02/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$524461 |
| &nbsp;&nbsp;&nbsp;&nbsp;1515000 | T-Mobile USA, Inc.<br>| &nbsp;&nbsp;&nbsp;3.75% | 04/05/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1458040 |
| &nbsp;&nbsp;&nbsp;&nbsp;1490000 | T-Mobile USA, Inc.<br>| &nbsp;&nbsp;&nbsp;5.38% | 04/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1496257 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11979859 |
|  | **Transportation – 1.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;555000 | Allegiant Travel Co. (b)<br>| &nbsp;&nbsp;&nbsp;7.25% | 08/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;543308 |
| &nbsp;&nbsp;&nbsp;&nbsp;1540000 | American Airlines, Inc. (b)<br>| 11.75% | 07/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1715799 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;714000 | First Student Bidco, Inc./First Transit Parent, Inc. (b)<br>| &nbsp;&nbsp;&nbsp;4.00% | 07/31/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;595407 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;633058 | JetBlue 2020-1 Class B Pass Through Trust<br>| &nbsp;&nbsp;&nbsp;7.75% | 11/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;627167 |
| &nbsp;&nbsp;&nbsp;&nbsp;2416500 | Mileage Plus Holdings LLC/Mileage Plus Intellectual Property Assets Ltd. (a) (b)<br>| &nbsp;&nbsp;&nbsp;6.50% | 06/20/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2444326 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;685000 | United Airlines, Inc. (b)<br>| &nbsp;&nbsp;&nbsp;4.38% | 04/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;651110 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;895000 | United Airlines, Inc. (a) (b)<br>| &nbsp;&nbsp;&nbsp;4.63% | 04/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;817739 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39766 | US Airways 2000-3C Pass Through Trust (f) (g)<br>| &nbsp;&nbsp;&nbsp;8.39% | 09/01/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39766 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7434622 |
|  | **Utility – 2.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2205000 | Calpine Corp. (b)<br>| &nbsp;&nbsp;&nbsp;3.75% | 03/01/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1841203 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470000 | Clearway Energy Operating LLC (b)<br>| &nbsp;&nbsp;&nbsp;3.75% | 02/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;397698 |
| &nbsp;&nbsp;&nbsp;&nbsp;1690000 | Clearway Energy Operating LLC (a) (b)<br>| &nbsp;&nbsp;&nbsp;3.75% | 01/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1394978 |
| &nbsp;&nbsp;&nbsp;&nbsp;1355000 | FirstEnergy Corp. (a) (e)<br>| &nbsp;&nbsp;&nbsp;4.15% | 07/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1296600 |
| &nbsp;&nbsp;&nbsp;&nbsp;2515000 | PG&E Corp. (a)<br>| &nbsp;&nbsp;&nbsp;5.00% | 07/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2359825 |
| &nbsp;&nbsp;&nbsp;&nbsp;1060000 | Vistra Operations Co. LLC (b)<br>| &nbsp;&nbsp;&nbsp;5.63% | 02/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1025006 |
| &nbsp;&nbsp;&nbsp;&nbsp;1310000 | Vistra Operations Co. LLC (b)<br>| &nbsp;&nbsp;&nbsp;4.38% | 05/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1153878 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9469188 |
|  | **Total Corporate Bonds and Notes<br>** | **Total Corporate Bonds and Notes<br>** | **Total Corporate Bonds and Notes<br>** | &nbsp;&nbsp;&nbsp;&nbsp;423136811 |
|  | (Cost $452,933,978) |  |  |  |
| **Principal<br> Value<br> (Local<br> Currency)** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value<br> (US Dollars)** |
| **FOREIGN CORPORATE BONDS AND NOTES – 24.5%** | **FOREIGN CORPORATE BONDS AND NOTES – 24.5%** | **FOREIGN CORPORATE BONDS AND NOTES – 24.5%** | **FOREIGN CORPORATE BONDS AND NOTES – 24.5%** | **FOREIGN CORPORATE BONDS AND NOTES – 24.5%** |
|  | **Automotive – 0.6%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;918000 | Clarios Global L.P. (USD) (b)<br>| &nbsp;&nbsp;&nbsp;6.75% | 05/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;924628 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;607000 | Clarios Global L.P./Clarios US Finance Co. (USD) (b)<br>| &nbsp;&nbsp;&nbsp;6.25% | 05/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;603680 |
| &nbsp;&nbsp;&nbsp;&nbsp;1099000 | Clarios Global L.P./Clarios US Finance Co. (USD) (b)<br>| &nbsp;&nbsp;&nbsp;8.50% | 05/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1096150 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2624458 |
|  | **Banking – 2.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2930000 | Barclays PLC (USD) (a) (h)<br>| &nbsp;&nbsp;&nbsp;7.33% | 11/02/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3077182 |
| &nbsp;&nbsp;&nbsp;&nbsp;1895000 | Credit Suisse AG/New York NY (USD)<br>| &nbsp;&nbsp;&nbsp;7.95% | 01/09/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1941982 |
| &nbsp;&nbsp;&nbsp;&nbsp;1685000 | Deutsche Bank AG/New York NY (USD) (a) (h)<br>| &nbsp;&nbsp;&nbsp;3.73% | 01/14/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1355721 |
| &nbsp;&nbsp;&nbsp;&nbsp;2835000 | Deutsche Bank AG/New York NY (USD) (a) (h)<br>| &nbsp;&nbsp;&nbsp;3.74% | 01/07/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2242409 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | Intesa Sanpaolo SpA (USD) (b)<br>| &nbsp;&nbsp;&nbsp;5.02% | 06/26/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;487965 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9105259 |
|  | **Basic Industry – 1.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1350000 | Ahlstrom-Munksjo Holding 3 Oy (USD) (b)<br>| &nbsp;&nbsp;&nbsp;4.88% | 02/04/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1168184 |
| &nbsp;&nbsp;&nbsp;&nbsp;1900000 | James Hardie International Finance DAC (USD) (a) (b)<br>| &nbsp;&nbsp;&nbsp;5.00% | 01/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1806238 |
| &nbsp;&nbsp;&nbsp;&nbsp;2250000 | SPCM S.A. (USD) (a) (b)<br>| &nbsp;&nbsp;&nbsp;3.38% | 03/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1907156 |
| &nbsp;&nbsp;&nbsp;&nbsp;2200000 | Stora Enso OYJ (USD) (a) (b)<br>| &nbsp;&nbsp;&nbsp;7.25% | 04/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2358017 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7239595 |

---

------

#### First Trust High Income Long/Short Fund (FSD)<br>

#### Portfolio of Investments (Continued)

#### January 31, 2023 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value<br> (Local<br> Currency)** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value<br> (US Dollars)** |
| **FOREIGN CORPORATE BONDS AND NOTES (Continued)** | **FOREIGN CORPORATE BONDS AND NOTES (Continued)** | **FOREIGN CORPORATE BONDS AND NOTES (Continued)** | **FOREIGN CORPORATE BONDS AND NOTES (Continued)** | **FOREIGN CORPORATE BONDS AND NOTES (Continued)** |
|  | **Capital Goods – 3.8%** |  |  |  |
| &nbsp;&nbsp;464000 | Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC (USD) (b)<br>| 6.00% | 06/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$463309 |
| 1815000 | Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC (USD) (a) (b)<br>| 3.25% | 09/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1594931 |
| 1385000 | Bombardier, Inc. (USD) (a) (b)<br>| 7.13% | 06/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1383546 |
| 4980000 | Bombardier, Inc. (USD) (a) (b)<br>| 7.88% | 04/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4982379 |
| &nbsp;&nbsp;715000 | Bombardier, Inc. (USD) (b)<br>| 6.00% | 02/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;679049 |
| &nbsp;&nbsp;188000 | Bombardier, Inc. (USD) (b)<br>| 7.50% | 02/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;188026 |
| 2240000 | Canpack S.A./Canpack US LLC (USD) (a) (b)<br>| 3.13% | 11/01/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2041760 |
| &nbsp;&nbsp;450000 | Canpack S.A./Canpack US LLC (USD) (b)<br>| 3.88% | 11/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;374211 |
| 1880000 | Cascades, Inc./Cascades USA, Inc. (USD) (a) (b)<br>| 5.38% | 01/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1758054 |
| &nbsp;&nbsp;875000 | OI European Group BV (USD) (b)<br>| 4.75% | 02/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;786581 |
| 2380000 | Titan Acquisition Ltd./Titan Co-Borrower LLC (USD) (a) (b)<br>| 7.75% | 04/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2255193 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16507039 |
|  | **Consumer Goods – 0.7%** |  |  |  |
| 1000000 | JBS USA LUX S.A./JBS USA Food Co./JBS USA Finance, Inc. (USD) (a) (b)<br>| 5.50% | 01/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;972905 |
| 2500000 | Minerva Luxembourg S.A. (USD) (a) (b)<br>| 4.38% | 03/18/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2121049 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3093954 |
|  | **Energy – 1.2%** |  |  |  |
| 2065000 | MEG Energy Corp. (USD) (a) (b)<br>| 7.13% | 02/01/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2120827 |
| 2250000 | Petroleos Mexicanos (USD) (a)<br>| 6.50% | 03/13/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2126975 |
| &nbsp;&nbsp;300000 | Transocean Titan Financing Ltd. (USD) (b)<br>| 8.38% | 02/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;311721 |
| &nbsp;&nbsp;662000 | Transocean, Inc. (USD) (b)<br>| 8.75% | 02/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;683432 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5242955 |
|  | **Healthcare – 0.9%** |  |  |  |
| 3850000 | Teva Pharmaceutical Finance Netherlands III B.V. (USD) (a)<br>| 7.13% | 01/31/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3906980 |
|  | **Leisure – 3.4%** |  |  |  |
| &nbsp;&nbsp;725000 | Carnival Corp. (USD) (b)<br>| 5.75% | 03/01/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;602772 |
| 2885000 | Carnival Corp. (USD) (a) (b)<br>| 6.00% | 05/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2282771 |
| &nbsp;&nbsp;778000 | International Game Technology PLC (USD) (b)<br>| 5.25% | 01/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;747623 |
| &nbsp;&nbsp;700000 | Melco Resorts Finance Ltd. (USD) (b)<br>| 5.75% | 07/21/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;631089 |
| 2220000 | NCL Corp Ltd. (USD) (a) (b)<br>| 5.88% | 02/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2067097 |
| &nbsp;&nbsp;845000 | NCL Corp Ltd. (USD) (b)<br>| 8.38% | 02/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;859694 |
| &nbsp;&nbsp;765000 | NCL Corp Ltd. (USD) (b)<br>| 7.75% | 02/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;658829 |
| 3315000 | Royal Caribbean Cruises Ltd. (USD) (a) (b)<br>| 5.38% | 07/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2887803 |
| &nbsp;&nbsp;437000 | Royal Caribbean Cruises Ltd. (USD) (b)<br>| 8.25% | 01/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;457148 |
| 1708000 | Royal Caribbean Cruises Ltd. (USD) (b)<br>| 9.25% | 01/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1803964 |
| &nbsp;&nbsp;859000 | Viking Cruises Ltd. (USD) (b)<br>| 5.88% | 09/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;733062 |
| 1045000 | VOC Escrow Ltd. (USD) (b)<br>| 5.00% | 02/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;920462 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14652314 |
|  | **Media – 0.4%** |  |  |  |
| 1820000 | UPC Holding, B.V. (USD) (a) (b)<br>| 5.50% | 01/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1663207 |
|  | **Retail – 0.9%** |  |  |  |
| 1855000 | 1011778 BC ULC/New Red Finance, Inc. (USD) (a) (b)<br>| 5.75% | 04/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1854536 |
| 1000000 | 1011778 BC ULC/New Red Finance, Inc. (USD) (b)<br>| 3.50% | 02/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;876286 |
| 1425000 | 1011778 BC ULC/New Red Finance, Inc. (USD) (b)<br>| 4.00% | 10/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1214891 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3945713 |

---

------

#### First Trust High Income Long/Short Fund (FSD)<br>

#### Portfolio of Investments (Continued)

#### January 31, 2023 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value<br> (Local<br> Currency)** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value<br> (US Dollars)** |
| **FOREIGN CORPORATE BONDS AND NOTES (Continued)** | **FOREIGN CORPORATE BONDS AND NOTES (Continued)** | **FOREIGN CORPORATE BONDS AND NOTES (Continued)** | **FOREIGN CORPORATE BONDS AND NOTES (Continued)** | **FOREIGN CORPORATE BONDS AND NOTES (Continued)** |
|  | **Services – 3.3%** |  |  |  |
| 2330000 | Garda World Security Corp. (USD) (a) (b)<br>| &nbsp;&nbsp;&nbsp;4.63% | 02/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2123620 |
| 3410000 | Garda World Security Corp. (USD) (a) (b)<br>| &nbsp;&nbsp;&nbsp;9.50% | 11/01/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3372417 |
| &nbsp;&nbsp;750000 | GFL Environmental, Inc. (USD) (b)<br>| &nbsp;&nbsp;&nbsp;3.75% | 08/01/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;713644 |
| &nbsp;&nbsp;800000 | GFL Environmental, Inc. (USD) (b)<br>| &nbsp;&nbsp;&nbsp;5.13% | 12/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;779140 |
| 2765000 | GFL Environmental, Inc. (USD) (a) (b)<br>| &nbsp;&nbsp;&nbsp;4.00% | 08/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2458154 |
| &nbsp;&nbsp;655000 | GFL Environmental, Inc. (USD) (a) (b)<br>| &nbsp;&nbsp;&nbsp;4.75% | 06/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;592051 |
| 4125000 | Ritchie Bros. Auctioneers, Inc. (USD) (a) (b)<br>| &nbsp;&nbsp;&nbsp;5.38% | 01/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4078388 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14117414 |
|  | **Technology & Electronics – 1.0%** |  |  |  |
| 1650000 | Broadcom Corp./Broadcom Cayman Finance Ltd. (USD)<br>| &nbsp;&nbsp;&nbsp;3.50% | 01/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1547291 |
| 1760000 | Open Text Corp. (USD) (a) (b)<br>| &nbsp;&nbsp;&nbsp;3.88% | 12/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1465957 |
| &nbsp;&nbsp;206000 | Seagate HDD Cayman (USD)<br>| &nbsp;&nbsp;&nbsp;4.13% | 01/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173279 |
| &nbsp;&nbsp;291200 | Seagate HDD Cayman (USD) (b)<br>| &nbsp;&nbsp;&nbsp;9.63% | 12/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330125 |
| &nbsp;&nbsp;725000 | Sensata Technologies BV (USD) (b)<br>| &nbsp;&nbsp;&nbsp;4.00% | 04/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;651829 |
| &nbsp;&nbsp;244000 | Sensata Technologies BV (USD) (b)<br>| &nbsp;&nbsp;&nbsp;5.88% | 09/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;239729 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4408210 |
|  | **Telecommunications – 3.2%** |  |  |  |
| 1635000 | Altice France S.A./France (USD) (a) (b)<br>| &nbsp;&nbsp;&nbsp;5.13% | 07/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1285453 |
| &nbsp;&nbsp;600000 | DKT Finance ApS (EUR) (i)<br>| &nbsp;&nbsp;&nbsp;7.00% | 06/17/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;652858 |
| 1116000 | DKT Finance ApS (USD) (b)<br>| &nbsp;&nbsp;&nbsp;9.38% | 06/17/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1116714 |
| 1350000 | Iliad Holding SAS (USD) (a) (b)<br>| &nbsp;&nbsp;&nbsp;6.50% | 10/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1280124 |
| 1340000 | Telecom Italia Capital S.A. (USD)<br>| &nbsp;&nbsp;&nbsp;7.72% | 06/04/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1157901 |
| 1300000 | Total Play Telecomunicaciones SA de CV (USD) (a) (b)<br>| &nbsp;&nbsp;&nbsp;6.38% | 09/20/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1102166 |
| 4000000 | Virgin Media Finance PLC (EUR) (i)<br>| &nbsp;&nbsp;&nbsp;3.75% | 07/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3514874 |
| 1000000 | Vmed O2 UK Financing I PLC (GBP) (b)<br>| &nbsp;&nbsp;&nbsp;4.50% | 07/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;989585 |
| &nbsp;&nbsp;870000 | VZ Secured Financing BV (USD) (a) (b)<br>| &nbsp;&nbsp;&nbsp;5.00% | 01/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;746016 |
| 2700000 | Ziggo Bond Co. BV (USD) (a) (b)<br>| &nbsp;&nbsp;&nbsp;5.13% | 02/28/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2235141 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14080832 |
|  | **Transportation – 1.3%** |  |  |  |
| &nbsp;&nbsp;850000 | Air Canada (USD) (a) (b)<br>| &nbsp;&nbsp;&nbsp;3.88% | 08/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;787404 |
| 2595000 | Air Canada 2020-1 Class C Pass Through Trust (USD) (b)<br>| 10.50% | 07/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2753131 |
| 2095000 | American Airlines, Inc./AAdvantage Loyalty IP Ltd. (USD) (a) (b)<br>| &nbsp;&nbsp;&nbsp;5.50% | 04/20/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2056158 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5596693 |
|  | **Total Foreign Corporate Bonds and Notes<br>** | **Total Foreign Corporate Bonds and Notes<br>** | **Total Foreign Corporate Bonds and Notes<br>** | &nbsp;&nbsp;&nbsp;&nbsp;106184623 |
|  | (Cost $113,235,390) |  |  |  |
| **Par<br> Amount<br> (Local Currency)** | **Description** | **Stated<br> Rate** | **Stated<br> Maturity** | **Value<br> (US Dollars)** |
| **CAPITAL PREFERRED SECURITIES – 9.2%** | **CAPITAL PREFERRED SECURITIES – 9.2%** | **CAPITAL PREFERRED SECURITIES – 9.2%** | **CAPITAL PREFERRED SECURITIES – 9.2%** | **CAPITAL PREFERRED SECURITIES – 9.2%** |
|  | **Automotive – 1.3%** |  |  |  |
| 5935000 | General Motors Financial Co., Inc., Series A (USD) (h)<br>| &nbsp;&nbsp;&nbsp;5.75% | (j) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5447206 |
|  | **Banking – 3.1%** |  |  |  |
| 2940000 | Bank of America Corp., Series DD (USD) (h)<br>| &nbsp;&nbsp;&nbsp;6.30% | (j) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2989098 |
| 3000000 | Barclays Bank PLC, 3 Mo. EUR LIBOR + 0.71% (EUR) (i) (k)<br>| &nbsp;&nbsp;&nbsp;2.76% | (j) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2611443 |
| 4475000 | Citigroup, Inc., Series M (USD) (h)<br>| &nbsp;&nbsp;&nbsp;6.30% | (j) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4419063 |

---

------

#### First Trust High Income Long/Short Fund (FSD)<br>

#### Portfolio of Investments (Continued)

#### January 31, 2023 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Par<br> Amount<br> (Local Currency)** | **Description** | **Stated<br> Rate** | **Stated<br> Maturity** | **Value<br> (US Dollars)** |
| **CAPITAL PREFERRED SECURITIES (Continued)** | **CAPITAL PREFERRED SECURITIES (Continued)** | **CAPITAL PREFERRED SECURITIES (Continued)** | **CAPITAL PREFERRED SECURITIES (Continued)** | **CAPITAL PREFERRED SECURITIES (Continued)** |
|  | **Banking (Continued)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3935000 | Citigroup, Inc., Series V (USD) (a) (h)<br>| &nbsp;&nbsp;&nbsp;4.70% | (j) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3605148 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13624752 |
|  | **Financial Services – 1.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3175000 | American AgCredit Corp., Series QIB (USD) (a) (b) (h)<br>| &nbsp;&nbsp;&nbsp;5.25% | (j) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2797969 |
| &nbsp;&nbsp;&nbsp;&nbsp;3210000 | Textron Financial Corp., 3 Mo. LIBOR + 1.74% (USD) (a) (b) (k)<br>| &nbsp;&nbsp;&nbsp;6.34% | 02/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2491762 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5289731 |
|  | **Insurance – 1.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5400000 | Hartford Financial Services Group (The), Inc., 3 Mo. LIBOR + 2.13% (USD) (a) (b) (k)<br>| &nbsp;&nbsp;&nbsp;6.73% | 02/12/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4631850 |
| &nbsp;&nbsp;&nbsp;&nbsp;3500000 | Lincoln National Corp., 3 Mo. LIBOR + 2.36% (USD) (a) (k)<br>| &nbsp;&nbsp;&nbsp;7.01% | 05/17/66 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2818375 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7450225 |
|  | **Utility – 1.9%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1695000 | Edison International, Series B (USD) (a) (h)<br>| &nbsp;&nbsp;&nbsp;5.00% | (j) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1511245 |
| &nbsp;&nbsp;&nbsp;&nbsp;6595000 | Vistra Corp. (USD) (a) (b) (h)<br>| &nbsp;&nbsp;&nbsp;8.00% | (j) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6473388 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7984633 |
|  | **Total Capital Preferred Securities<br>** | **Total Capital Preferred Securities<br>** | **Total Capital Preferred Securities<br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39796547 |
|  | (Cost $43,229,820) |  |  |  |
| **Principal<br> Value** | **Description** | **Rate (l)** | **Stated<br> Maturity (m)** | **Value** |
| **SENIOR FLOATING-RATE LOAN INTERESTS – 2.1%** | **SENIOR FLOATING-RATE LOAN INTERESTS – 2.1%** | **SENIOR FLOATING-RATE LOAN INTERESTS – 2.1%** | **SENIOR FLOATING-RATE LOAN INTERESTS – 2.1%** | **SENIOR FLOATING-RATE LOAN INTERESTS – 2.1%** |
|  | **Capital Goods – 0.6%** |  |  |  |
| &nbsp;&nbsp;&nbsp;$2737500 | ADS Tactical, Inc., Initial Term Loan, 1 Mo. LIBOR + 5.75%, 1.00% Floor<br>| 10.30% | 03/19/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2536746 |
|  | **Insurance – 0.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;970200 | HUB International Ltd., Term Loan B3, 3 Mo. LIBOR + 3.25%, 0.75% Floor<br>| &nbsp;&nbsp;&nbsp;8.06% | 04/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;970719 |
|  | **Retail – 0.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1074095 | Michaels Cos (The), Inc., Term Loan B, 3 Mo. LIBOR + 4.25%, 0.75% Floor<br>| &nbsp;&nbsp;&nbsp;8.98% | 04/15/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;991191 |
|  | **Services – 1.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5800000 | TruGreen L.P., Initial Term Loan (Second Lien), 1 Mo. LIBOR + 8.50%, 0.75% Floor<br>| 13.33% | 11/02/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4176000 |
|  | **Technology & Electronics – 0.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | Dcert Buyer, Inc., First Amendment Refinancing Loan (Second Lien), 1 Mo. LIBOR + 7.00%, 0.00% Floor<br>| 11.70% | 02/16/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;552624 |
|  | **Total Senior Floating-Rate Loan Interests<br>** | **Total Senior Floating-Rate Loan Interests<br>** | **Total Senior Floating-Rate Loan Interests<br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9227280 |
|  | (Cost $10,971,126) |  |  |  |
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value** |
| **MORTGAGE-BACKED SECURITIES – 0.5%** | **MORTGAGE-BACKED SECURITIES – 0.5%** | **MORTGAGE-BACKED SECURITIES – 0.5%** | **MORTGAGE-BACKED SECURITIES – 0.5%** | **MORTGAGE-BACKED SECURITIES – 0.5%** |
|  | **Collateralized Mortgage Obligations – 0.0%** |  |  |  |
|  | Washington Mutual Alternative Mortgage Pass-Through<br> Certificates |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11041 | &nbsp;&nbsp;&nbsp;Series 2007-5, Class A11, 1 Mo. LIBOR x -6 + 39.48% (n)<br>| 13.15% | 06/25/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14126 |

---

------

#### First Trust High Income Long/Short Fund (FSD)<br>

#### Portfolio of Investments (Continued)

#### January 31, 2023 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value** |
| **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** |
|  | **Commercial Mortgage-Backed Securities – 0.5%** |  |  |  |
|  | Securitized Asset Backed Receivables LLC Trust |  |  |  |
| &nbsp;&nbsp;&nbsp;$6411793 | &nbsp;&nbsp;&nbsp;Series 2006-FR4, Class A2A, 1 Mo. LIBOR + 0.16% (k)<br>| 3.06% | 08/25/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2104012 |
|  | **Total Mortgage-Backed Securities<br>** | **Total Mortgage-Backed Securities<br>** | **Total Mortgage-Backed Securities<br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2118138 |
|  | (Cost $5,031,309) |  |  |  |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **COMMON STOCKS – 0.1%** | **COMMON STOCKS – 0.1%** | **COMMON STOCKS – 0.1%** |
|  | **Energy – 0.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | Thunderbird Resources Equity, Inc. (f) (g) (o) (p)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35290 |
|  | **Utility – 0.1%** |  |
| 13918 | Vistra Corp.<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320949 |
|  | **Total Common Stocks<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;356239 |
|  | (Cost $997,888) |  |
| **RIGHTS – 0.0%** | **RIGHTS – 0.0%** | **RIGHTS – 0.0%** |
|  | **Utility – 0.0%** |  |
| 13918 | Vistra Corp., no expiration date (o) (p)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17279 |
|  | (Cost $22,917) |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Total Investments – 133.9%<br>** | **Total Investments – 133.9%<br>** | **Total Investments – 133.9%<br>** | |
| <br>**Principal<br> Value** | (Cost $626,422,428)<br>**Description** | <br>**Stated<br> Coupon** | <br>**Stated<br> Maturity** | 580836917<br>**Value** |
| **U.S. GOVERNMENT BONDS SOLD SHORT – (12.2)%** | **U.S. GOVERNMENT BONDS SOLD SHORT – (12.2)%** | **U.S. GOVERNMENT BONDS SOLD SHORT – (12.2)%** | **U.S. GOVERNMENT BONDS SOLD SHORT – (12.2)%** | **U.S. GOVERNMENT BONDS SOLD SHORT – (12.2)%** |
| $(30000000) | United States Treasury Note<br>| 1.38% | 09/30/23 | &nbsp;&nbsp;&nbsp;&nbsp;(29336732) |
| &nbsp;&nbsp;(24000000) | United States Treasury Note<br>| 2.88% | 05/31/25 | &nbsp;&nbsp;&nbsp;&nbsp;(23371875) |
|  | **Total U.S. Government Bonds Sold Short<br>** | **Total U.S. Government Bonds Sold Short<br>** | **Total U.S. Government Bonds Sold Short<br>** | &nbsp;&nbsp;&nbsp;&nbsp;(52708607) |
|  | (Proceeds $52,553,860) |  |  |  |
| **CORPORATE BONDS SOLD SHORT – (1.0)%** | **CORPORATE BONDS SOLD SHORT – (1.0)%** | **CORPORATE BONDS SOLD SHORT – (1.0)%** | **CORPORATE BONDS SOLD SHORT – (1.0)%** | **CORPORATE BONDS SOLD SHORT – (1.0)%** |
|  | **Energy – (0.3)%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(1600000) | Halliburton Co.<br>| 2.92% | 03/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1429637) |
|  | **Technology & Electronics – (0.7)%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(2930000) | Amkor Technology, Inc. (b)<br>| 6.63% | 09/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2945705) |
|  | **Total Corporate Bonds Sold Short<br>** | **Total Corporate Bonds Sold Short<br>** | **Total Corporate Bonds Sold Short<br>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4375342) |
|  | (Proceeds $4,479,457) |  |  |  |
|  | **Total Investments Sold Short – (13.2)%<br>** | **Total Investments Sold Short – (13.2)%<br>** | **Total Investments Sold Short – (13.2)%<br>** | &nbsp;&nbsp;&nbsp;&nbsp;(57083949) |
|  | (Proceeds $57,033,317) |  |  |  |

---

---

| | |
|:---|:---|
| **Outstanding Loan – (33.0)%<br>**  | &nbsp;&nbsp;&nbsp;(143077693) |
| **Net Other Assets and Liabilities – 12.3%<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53241507 |
| **Net Assets – 100.0%<br>**  | &nbsp;&nbsp;$433916782 |

---

------

#### First Trust High Income Long/Short Fund (FSD)<br>

#### Portfolio of Investments (Continued)

#### January 31, 2023 (Unaudited)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** |
| **Settlement<br> Date** | **Counterparty** | **Amount<br> Purchased** | **Amount<br> Purchased** | **Amount<br> Sold** | **Amount<br> Sold** | **Purchase<br> Value as of<br> 1/31/2023** | **Sale<br> Value as of<br> 1/31/2023** | **Unrealized<br> Appreciation/<br> (Depreciation)** |
| 05/09/23 | JPM | USD | 6913732 | EUR | 6311000 | $6913732 | $6901712 | $12020 |
| 05/09/23 | JPM | USD | 1057956 | GBP | &nbsp;&nbsp;&nbsp;&nbsp;852000 | &nbsp;&nbsp;&nbsp; 1057956 | &nbsp;&nbsp;&nbsp; 1052561 | &nbsp;&nbsp;&nbsp; 5395 |
| Net Unrealized Appreciation / (Depreciation) | Net Unrealized Appreciation / (Depreciation) | Net Unrealized Appreciation / (Depreciation) | Net Unrealized Appreciation / (Depreciation) | Net Unrealized Appreciation / (Depreciation) | Net Unrealized Appreciation / (Depreciation) | Net Unrealized Appreciation / (Depreciation) | Net Unrealized Appreciation / (Depreciation) | &nbsp;&nbsp;$17415 |

---

Counterparty Abbreviations <br> JPM JPMorgan Chase

(a) This security or a portion of this security is segregated as collateral for investments sold short and borrowings in the margin account. At January 31, 2023, the segregated value of
these securities amounts to $351,133,719.

(b) This security, sold within the terms of a private placement memorandum, is exempt from registration upon resale under Rule 144A of the Securities Act of 1933, as amended (the
"1933 Act"), and may be resold in transactions exempt from registration, normally to qualified institutional buyers. Pursuant to procedures adopted by the Fund Board of Trustees, this security has been
determined to be liquid by MacKay Shields LLC, the Fund's sub-advisor (the "Sub-Advisor"). Although market instability can result in periods of increased overall market illiquidity, liquidity for
each security is determined based on security specific factors and assumptions, which require subjective judgment. At January 31, 2023, securities noted as such amounted to $394,913,357 of total investments and
$(2,945,705) of total investments sold short, or 91.0% and (0.7)% of net assets, respectively.

(c) These notes are Senior PIK Toggle Notes whereby the issuer may, at its option, elect to pay interest on the notes (1) entirely in cash or (2) entirely in PIK interest. Interest paid
in cash will accrue on the notes at a rate of 8.25% per annum and PIK interest will accrue on the notes at a rate per annum equal to the Cash Interest Rate plus 75 basis points. For the fiscal year-to-date period
(November 1, 2022 through January 31, 2023), this security paid all of its interest in cash.

(d) Multi-Step Coupon Bond - Coupon steps up or down based upon ratings changes. The interest rate shown reflects the rate in effect at January 31, 2023.

(e) Multi-Step Coupon Bond - Coupon steps up or down at a predetermined date. The interest rate shown reflects the rate in effect at January 31, 2023.

(f) This security is fair valued by the Pricing Committee of the Fund's investment advisor, First Trust Advisors L.P. (the "Advisor"), in accordance with procedures
approved by the Fund's Board of Trustees, and in accordance with the provisions of the Investment Company Act of 1940 and rules thereunder, as amended. At January 31, 2023, securities noted as such are valued at
$75,056 or 0.0% of net assets.

(g) This security's value was determined using significant unobservable inputs (see Valuation Inputs section).

(h) Fixed-to-floating or fixed-to-variable rate security. The interest rate shown reflects the fixed rate in effect at January 31, 2023. At a predetermined date, the fixed rate will
change to a floating rate or a variable rate.

(i) This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the 1933 Act.

(j) Perpetual maturity.

(k) Floating or variable rate security.

(l) Senior Floating-Rate Loan Interests ("Senior Loans") in which the Fund invests pay interest at rates which are periodically predetermined by reference to a base lending
rate plus a premium. These base lending rates are generally (i) the lending rate offered by one or more major European banks, such as the LIBOR, (ii) the SOFR obtained from the U.S. Department of the Treasury's
Office of Financial Research, (iii) the prime rate offered by one or more United States banks or (iv) the certificate of deposit rate. Certain Senior Loans are subject to a LIBOR or SOFR floor that establishes a
minimum LIBOR or SOFR rate.

(m) Senior Loans generally are subject to mandatory and/or optional prepayment. As a result, the actual remaining maturity of Senior Loans may be substantially less than the stated
maturities shown.

(n) Inverse floating rate security.

(o) Pursuant to procedures adopted by the Fund's Board of Trustees, this security has been determined to be illiquid by the Sub-Advisor.

(p) Non-income producing security.

---

| | |
|:---|:---|
| EUR | &nbsp;&nbsp;Euro |
| GBP | &nbsp;&nbsp;British Pound Sterling |
| LIBOR | &nbsp;&nbsp;London Interbank Offered Rate |
| SOFR | &nbsp;&nbsp;Secured Overnight Financing Rate |
| USD | &nbsp;&nbsp;United States Dollar |

---

------

#### First Trust High Income Long/Short Fund (FSD)<br>

#### Portfolio of Investments (Continued)

#### January 31, 2023 (Unaudited)

------

#### Valuation Inputs
The Fund is subject to fair value accounting standards that define fair value, establish the framework for measuring fair value and provide a three-level hierarchy for fair valuation based upon the inputs to the valuation as of the measurement date. The three levels of the fair value hierarchy are as follows:

• Level 1 – Level 1 inputs are quoted prices in active markets for identical investments.

• Level 2 – Level 2 inputs are observable inputs, either directly or indirectly. (Quoted prices for similar investments, valuations based on interest rates and yield curves, or valuations derived
from observable market data.)

• Level 3 – Level 3 inputs are unobservable inputs that may reflect the reporting entity's own assumptions about the assumptions that market participants would use in
pricing the investment.

The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in those investments.

A summary of the inputs used to value the Fund's investments as of January 31, 2023 is as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **ASSETS TABLE** | **ASSETS TABLE** | **ASSETS TABLE** | **ASSETS TABLE** | **ASSETS TABLE** |
|  | **Total<br> Value at<br> 1/31/2023** | &nbsp;&nbsp;**Level 1<br> Quoted<br> Prices** | **Level 2<br> Significant<br> Observable<br> Inputs** | **Level 3<br> Significant<br> Unobservable<br> Inputs** |
| Corporate Bonds and Notes: |  |  |  |  |
| &nbsp;&nbsp;Transportation<br>| &nbsp;&nbsp;&nbsp;$7434622 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;$7394856 | $39766 |
| &nbsp;&nbsp;Other Industry Categories\*<br>| &nbsp;&nbsp;&nbsp;&nbsp; 415702189 | &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; 415702189 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Foreign Corporate Bonds and Notes\*<br>| &nbsp;&nbsp;&nbsp;&nbsp; 106184623 | &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; 106184623 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Capital Preferred Securities\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 39796547 | &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; 39796547 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Senior Floating-Rate Loan Interests\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9227280 | &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; 9227280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Mortgage-Backed Securities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2118138 | &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; 2118138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Common Stocks: |  |  |  |  |
| &nbsp;&nbsp;Energy<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35290 | &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;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 35290 |
| &nbsp;&nbsp;Utility<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 320949 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 320949 | &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; — |
| Rights\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17279 | &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; 17279 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Total Investments<br>| &nbsp;&nbsp;&nbsp;&nbsp; 580836917 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 320949 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 580440912 | &nbsp;&nbsp;&nbsp;&nbsp; 75056 |
| Forward Foreign Currency Contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17415 | &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; 17415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Total Investments<br>| $580854332 | &nbsp;&nbsp;$320949 | $580458327 | $75056 |
| **LIABILITIES TABLE** | **LIABILITIES TABLE** | **LIABILITIES TABLE** | **LIABILITIES TABLE** | **LIABILITIES TABLE** |
|  | **Total<br> Value at<br> 1/31/2023** | &nbsp;&nbsp;**Level 1<br> Quoted<br> Prices** | **Level 2<br> Significant<br> Observable<br> Inputs** | **Level 3<br> Significant<br> Unobservable<br> Inputs** |
| U.S. Government Bonds Sold Short<br>| $(52708607) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | $(52708607) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— |
| Corporate Bonds Sold Short\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4375342) | &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; (4375342) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Total Investments<br>| $(57083949) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | $(57083949) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— |

---

\* See Portfolio of Investments for industry breakout.

Level 3 investments are fair valued by the Advisor's Pricing Committee and are footnoted in the Portfolio of Investments. Level 3 investments values are based on unobservable and non-quantitative inputs.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** First Trust High Income Long/Short Fund

- **b. Investment Company Act file number:** 811-22442

- **c. CIK number of Registrant:** 0001494530

- **d. LEI of Registrant:** JUEVI6DHENZLPUBV7E49

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

  - **Street Address 1:** 120 EAST LIBERTY DRIVE

  - **City:** Wheaton

  - **State:** IL

  - **Foreign country:** US

  - **Zip / Postal Code:** 60187

  - **Telephone number:** 630-765-8000

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

- **a. Name of Series:** First Trust High Income Long/Short Fund

- **c. LEI of Series:** JUEVI6DHENZLPUBV7E49

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

- **a. Date of fiscal year-end:** 2023-10-31

- **b. Date as of which information is reported:** 2023-01-31

**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:** $636783751.04

**Total Liabilities:** $202872998.64

**Net Assets:** $433910752.40

**Delayed Delivery Securities:** $845000.00

**Cash Not Reported:** $48665055.58

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0.00000000 | **1-Year:** 7992.77839000 | **5-Year:** 21339.80929000 | **10-Year:** 19529.37440000 | **30-Year:** 3892.03882000

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

- **3-Month:** 80.11190000 | **1-Year:** 38151.15746000 | **5-Year:** 133912.83500000 | **10-Year:** 12599.78499000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000000000 | 6.86%                | -1.30%               | 6.76%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-2616444.49             | $10114914.34                               |
| Month 2  | $-846609.62              | $-5182628.58                               |
| Month 3  | $-264153.71              | $17825816.98                               |

**Designated Index Information**

- **Index Name:** The Fund's Designated Reference Portfolio is the Fund's Securities Portfolio.

- **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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| HCA INC                                   | HCA Inc                                                                          | CUSIP: 404119BW8<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   1495000 | PA      | $1538991.75   | 0.35%             | 2029-02-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| PG&E CORP                                 | PG&E Corp                                                                        | CUSIP: 69331CAH1<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | DBT              | CORP              | US        |   2515000 | PA      | $2359824.50   | 0.54%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                         | Iron Mountain Inc                                                                | CUSIP: 46284VAJ0<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |   1480000 | PA      | $1341205.60   | 0.31%             | 2030-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| WMG ACQUISITION CORP                      | WMG Acquisition Corp                                                             | CUSIP: 92933BAT1<br>LEI: 549300NAS11NXI33CP80 | Long             | DBT              | CORP              | US        |   1490000 | PA      | $1306077.69   | 0.30%             | 2029-12-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| CATALENT PHARMA SOLUTION                  | Catalent Pharma Solutions Inc                                                    | CUSIP: 14879EAK4<br>LEI: 549300HALRZ339MSTH85 | Long             | DBT              | CORP              | US        |   1365000 | PA      | $1129598.93   | 0.26%             | 2030-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| SEALED AIR CORP                           | Sealed Air Corp                                                                  | CUSIP: 812127AA6<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | DBT              | CORP              | US        |    320000 | PA      | $323168.00    | 0.07%             | 2028-02-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| WILLIAMS SCOTSMAN INTL                    | Williams Scotsman International Inc                                              | CUSIP: 96950GAE2<br>LEI: 549300V3TCHCBOBTGH07 | Long             | DBT              | CORP              | US        |    855000 | PA      | $793243.35    | 0.18%             | 2028-08-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| KRONOS ACQ / KIK CUSTOM                   | Kronos Acquisition Holdings Inc / KIK Custom Products Inc                        | CUSIP: 50106GAF9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3149000 | PA      | $2748620.40   | 0.63%             | 2027-12-31      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| JELD-WEN INC                              | JELD-WEN Inc                                                                     | CUSIP: 475795AD2<br>LEI: 549300XWE6NM0N1HFW16 | Long             | DBT              | CORP              | US        |   2445000 | PA      | $2000988.00   | 0.46%             | 2027-12-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| VIRGIN MEDIA FINANCE PLC                  | Virgin Media Finance PLC                                                         | CUSIP: 000000000<br>LEI: 2138001LVYC87DDHT482 | Long             | DBT              | CORP              | GB        |   4000000 | PA      | $3514873.36   | 0.81%             | 2030-07-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                             | Carnival Corp                                                                    | CUSIP: 143658BR2<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |   2885000 | PA      | $2282770.68   | 0.53%             | 2029-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| TEVA PHARMACEUTICALS NE                   | Teva Pharmaceutical Finance Netherlands III BV                                   | CUSIP: 88167AAN1<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |   3850000 | PA      | $3906980.00   | 0.90%             | 2025-01-31      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| AVANTOR FUNDING INC                       | Avantor Funding Inc                                                              | CUSIP: 05352TAB5<br>LEI: 5493003VM0XB4U8YD238 | Long             | DBT              | CORP              | US        |   3065000 | PA      | $2698793.16   | 0.62%             | 2029-11-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                   | Royal Caribbean Cruises Ltd                                                      | CUSIP: 780153BR2<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |   1708000 | PA      | $1803963.98   | 0.42%             | 2029-01-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| ALLEGIANT TRAVEL CO                       | Allegiant Travel Co                                                              | CUSIP: 01748XAD4<br>LEI: 549300JM9OZXOHWL2K18 | Long             | DBT              | CORP              | US        |    555000 | PA      | $543307.44    | 0.13%             | 2027-08-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| TOTAL PLAY TELECOM                        | Total Play Telecomunicaciones SA de CV                                           | CUSIP: 89157FAC4<br>LEI: 4469000001BSAPAMOQ06 | Long             | DBT              | CORP              | MX        |   1300000 | PA      | $1102166.00   | 0.25%             | 2028-09-20      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| ASCENT RESOURCES/ARU FIN                  | Ascent Resources Utica Holdings LLC / ARU Finance Corp                           | CUSIP: 04364VAG8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1560000 | PA      | $1488953.62   | 0.34%             | 2026-11-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| SEAGATE HDD CAYMAN                        | Seagate HDD Cayman                                                               | CUSIP: 81180WBG5<br>LEI: 529900BD50TRWEG1SF63 | Long             | DBT              | CORP              | KY        |    291200 | PA      | $330124.70    | 0.08%             | 2032-12-01      | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                          | CSC Holdings LLC                                                                 | CUSIP: 126307AQ0<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |   2325000 | PA      | $2050650.00   | 0.47%             | 2027-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| TAP ROCK RESOURCES LLC                    | Tap Rock Resources LLC                                                           | CUSIP: 87602LAA0<br>LEI: 549300Y3SDS1HPFQ6H17 | Long             | DBT              | CORP              | US        |    920000 | PA      | $872155.40    | 0.20%             | 2026-10-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| UNITED RENTALS NORTH AM                   | United Rentals North America Inc                                                 | CUSIP: 911365BP8<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |   2165000 | PA      | $1875084.85   | 0.43%             | 2032-01-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| US AIRWAYS 2000-3C PASS                   | US Airways 2000-3C Pass Through Trust                                            | CUSIP: 90332UAS2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     39766 | PA      | $39766.00     | 0.01%             | 2023-09-01      | Fixed         | 8.39%                 | No            |                  3 | On Loan: No      |
| INTERNATIONAL GAME TECH                   | International Game Technology PLC                                                | CUSIP: 460599AE3<br>LEI: 549300UQ6KHRCZDRGZ76 | Long             | DBT              | CORP              | GB        |    778000 | PA      | $747622.99    | 0.17%             | 2029-01-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| DELEK LOG PART/FINANCE                    | Delek Logistics Partners LP / Delek Logistics Finance Corp                       | CUSIP: 24665FAC6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2650000 | PA      | $2434357.73   | 0.56%             | 2028-06-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL CALCASIEU                  | Venture Global Calcasieu Pass LLC                                                | CUSIP: 92328MAC7<br>LEI: 549300GKHS6RS20NLH85 | Long             | DBT              | CORP              | US        |    905000 | PA      | $769928.75    | 0.18%             | 2033-11-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| EQM MIDSTREAM PARTNERS L                  | EQM Midstream Partners LP                                                        | CUSIP: 26885BAC4<br>LEI: 549300NELT611CL6XM83 | Long             | DBT              | CORP              | US        |   1700000 | PA      | $1570239.00   | 0.36%             | 2028-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CD&R SMOKEY BUYER INC                     | CD&R Smokey Buyer Inc                                                            | CUSIP: 12510CAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2245000 | PA      | $2048562.50   | 0.47%             | 2025-07-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| OLYMPUS WTR US HLDG CORP                  | Olympus Water US Holding Corp                                                    | CUSIP: 681639AA8<br>LEI: 549300YU2GGVCBN3MY89 | Long             | DBT              | CORP              | US        |    385000 | PA      | $323520.31    | 0.07%             | 2028-10-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                  | Ford Motor Credit Co LLC                                                         | CUSIP: 345397A86<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   2205000 | PA      | $2036956.95   | 0.47%             | 2027-08-17      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| PTC INC                                   | PTC Inc                                                                          | CUSIP: 69370CAB6<br>LEI: 54930050SSMU8SKDJ030 | Long             | DBT              | CORP              | US        |    580000 | PA      | $556825.11    | 0.13%             | 2025-02-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| CARPENTER TECHNOLOGY                      | Carpenter Technology Corp                                                        | CUSIP: 144285AL7<br>LEI: DX6I6ZD3X5WNNCDJKP85 | Long             | DBT              | CORP              | US        |    320000 | PA      | $315556.80    | 0.07%             | 2028-07-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                     | Tenet Healthcare Corp                                                            | CUSIP: 88033GDR8<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    175000 | PA      | $155821.75    | 0.04%             | 2030-01-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                  | Ford Motor Credit Co LLC                                                         | CUSIP: 345397C68<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2101760.00   | 0.48%             | 2030-03-06      | Fixed         | 7.35%                 | No            |                  2 | On Loan: No      |
| COGENT COMMUNICATIONS GR                  | Cogent Communications Group Inc                                                  | CUSIP: 19240CAE3<br>LEI: 549300KFWFYF8Q1U0Y26 | Long             | DBT              | CORP              | US        |   1035000 | PA      | $1025767.80   | 0.24%             | 2027-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| NEWELL BRANDS INC                         | Newell Brands Inc                                                                | CUSIP: 651229BC9<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |    940000 | PA      | $945964.30    | 0.22%             | 2027-09-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Vistra Corp                               | Vistra Corp                                                                      | CUSIP: 92840M102<br>LEI: 549300KP43CPCUJOOG15 | Long             | EC               | CORP              | US        |     13918 | NS      | $320949.08    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| GENERAL MOTORS FINL CO                    | General Motors Financial Co Inc                                                  | CUSIP: 37045XCA2<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |   5935000 | PA      | $5447205.91   | 1.26%             | N/A             | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| DISH DBS CORP                             | DISH DBS Corp                                                                    | CUSIP: 25470XAW5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    900000 | PA      | $850500.00    | 0.20%             | 2024-11-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                   | Royal Caribbean Cruises Ltd                                                      | CUSIP: 780153BS0<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |    437000 | PA      | $457147.89    | 0.11%             | 2029-01-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                  | Vistra Operations Co LLC                                                         | CUSIP: 92840VAH5<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |   1310000 | PA      | $1153878.47   | 0.27%             | 2029-05-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| WESTERN MIDSTREAM OPERAT                  | Western Midstream Operating LP                                                   | CUSIP: 958667AC1<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |   1251000 | PA      | $1147517.28   | 0.26%             | 2030-02-01      | Variable      | 4.30%                 | No            |                  2 | On Loan: No      |
| H&E EQUIPMENT SERVICES                    | H&E Equipment Services Inc                                                       | CUSIP: 404030AJ7<br>LEI: 254900KVLRCDMQRYY541 | Long             | DBT              | CORP              | US        |   3045000 | PA      | $2683908.68   | 0.62%             | 2028-12-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| ENCOMPASS HEALTH CORP                     | Encompass Health Corp                                                            | CUSIP: 29261AAA8<br>LEI: 549300FVRPM9DRQZRG64 | Long             | DBT              | CORP              | US        |   1405000 | PA      | $1313464.25   | 0.30%             | 2028-02-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| SM ENERGY CO                              | SM Energy Co                                                                     | CUSIP: 78454LAW0<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |   1470000 | PA      | $1400086.12   | 0.32%             | 2028-07-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GFL ENVIRONMENTAL INC                     | GFL Environmental Inc                                                            | CUSIP: 36168QAL8<br>LEI: 549300FYK4MBXWIVZU26 | Long             | DBT              | CORP              | CA        |   2765000 | PA      | $2458154.13   | 0.57%             | 2028-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WASTE PRO USA INC                         | Waste Pro USA Inc                                                                | CUSIP: 94107JAA1<br>LEI: 549300BY1QXU5BI3UF28 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2327987.50   | 0.54%             | 2026-02-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| RITCHIE BROS AUCTIONEERS                  | Ritchie Bros Auctioneers Inc                                                     | CUSIP: 767744AA3<br>LEI: 5493002H8U24DJXQ4886 | Long             | DBT              | CORP              | CA        |   4125000 | PA      | $4078387.87   | 0.94%             | 2025-01-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| DIRECTV FIN LLC/COINC                     | Directv Financing LLC / Directv Financing Co-Obligor Inc                         | CUSIP: 25461LAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2655000 | PA      | $2408828.40   | 0.56%             | 2027-08-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| TRIPADVISOR INC                           | TripAdvisor Inc                                                                  | CUSIP: 896945AA0<br>LEI: 549300XVG45PT5BART17 | Long             | DBT              | CORP              | US        |    655000 | PA      | $658402.73    | 0.15%             | 2025-07-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                         | Iron Mountain Inc                                                                | CUSIP: 46284VAE1<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |   1845000 | PA      | $1756642.95   | 0.40%             | 2028-03-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NORDSTROM INC                             | Nordstrom Inc                                                                    | CUSIP: 655664AT7<br>LEI: 549300S3IZB5P35KNV16 | Long             | DBT              | CORP              | US        |    875000 | PA      | $703206.88    | 0.16%             | 2030-04-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| CLARIV SCI HLD CORP                       | Clarivate Science Holdings Corp                                                  | CUSIP: 18064PAC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    625000 | PA      | $558501.50    | 0.13%             | 2028-07-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                  | Occidental Petroleum Corp                                                        | CUSIP: 674599ED3<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |   3070000 | PA      | $3262819.03   | 0.75%             | 2030-09-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| EQM MIDSTREAM PARTNERS L                  | EQM Midstream Partners LP                                                        | CUSIP: 26885BAN0<br>LEI: 549300NELT611CL6XM83 | Long             | DBT              | CORP              | US        |    132000 | PA      | $132004.62    | 0.03%             | 2030-06-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                      | OneMain Finance Corp                                                             | CUSIP: 682691AB6<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    610000 | PA      | $531356.45    | 0.12%             | 2027-01-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                    | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPBT9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6100000 | PA      | $5820681.00   | 1.34%             | 2027-05-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| VICI PROPERTIES / NOTE                    | VICI Properties LP / VICI Note Co Inc                                            | CUSIP: 92564RAC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    360000 | PA      | $343000.80    | 0.08%             | 2025-02-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| BATH & BODY WORKS INC                     | Bath & Body Works Inc                                                            | CUSIP: 501797AR5<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | DBT              | CORP              | US        |   1900000 | PA      | $1929963.00   | 0.44%             | 2029-06-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| LGI HOMES INC                             | LGI Homes Inc                                                                    | CUSIP: 50187TAF3<br>LEI: 549300W02B4WNV8CV109 | Long             | DBT              | CORP              | US        |   1820000 | PA      | $1476793.50   | 0.34%             | 2029-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DANA INC                                  | Dana Inc                                                                         | CUSIP: 235825AJ5<br>LEI: KVWHW7YLZPFJM8QYNJ51 | Long             | DBT              | CORP              | US        |   2300000 | PA      | $1942591.50   | 0.45%             | 2032-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| WESCO DISTRIBUTION INC                    | WESCO Distribution Inc                                                           | CUSIP: 95081QAP9<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |   1045000 | PA      | $1071967.59   | 0.25%             | 2028-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| ALLIED UNIVERSAL                          | Allied Universal Holdco LLC / Allied Universal Finance Corp                      | CUSIP: 019576AB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1985000 | PA      | $1898305.13   | 0.44%             | 2027-07-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| VITAL ENERGY INC                          | Vital Energy Inc                                                                 | CUSIP: 516806AG1<br>LEI: 549300X0PTWU2QSLSL14 | Long             | DBT              | CORP              | US        |    210000 | PA      | $209219.85    | 0.05%             | 2028-01-15      | Fixed         | 10.12%                | No            |                  2 | On Loan: No      |
| VITAL ENERGY INC                          | Vital Energy Inc                                                                 | CUSIP: 516806AF3<br>LEI: 549300X0PTWU2QSLSL14 | Long             | DBT              | CORP              | US        |   1575000 | PA      | $1591254.00   | 0.37%             | 2025-01-15      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| PRESTIGE BRANDS INC                       | Prestige Brands Inc                                                              | CUSIP: 74112BAL9<br>LEI: 549300JBVP4J6D42I235 | Long             | DBT              | CORP              | US        |   1325000 | PA      | $1267037.88   | 0.29%             | 2028-01-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| POST HOLDINGS INC                         | Post Holdings Inc                                                                | CUSIP: 737446AM6<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |    625000 | PA      | $616431.25    | 0.14%             | 2027-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| HANESBRANDS INC                           | Hanesbrands Inc                                                                  | CUSIP: 410345AJ1<br>LEI: GX5LWVWZLL5S4W1L2F20 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1967570.00   | 0.45%             | 2024-05-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| VOC ESCROW LTD                            | VOC Escrow Ltd                                                                   | CUSIP: 91832VAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   1045000 | PA      | $920462.13    | 0.21%             | 2028-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NOVELIS CORP                              | Novelis Corp                                                                     | CUSIP: 670001AG1<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |   1125000 | PA      | $1019998.13   | 0.24%             | 2026-11-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| DCert Buyer Inc                           | Dcert Buyer Inc                                                                  | CUSIP: 000000000<br>LEI: 549300EF826JEEUCHZ67 | Long             | LON              | CORP              | US        |    600000 | PA      | $552624.00    | 0.13%             | 2029-02-19      | Floating      | 11.70%                | No            |                  2 | On Loan: No      |
| GFL ENVIRONMENTAL INC                     | GFL Environmental Inc                                                            | CUSIP: 36168QAN4<br>LEI: 549300FYK4MBXWIVZU26 | Long             | DBT              | CORP              | CA        |    655000 | PA      | $592051.23    | 0.14%             | 2029-06-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| MICHAELS COS INC/THE                      | Michaels Cos Inc/The                                                             | CUSIP: 55916AAB0<br>LEI: 549300H9LWMBP7HYLR98 | Long             | DBT              | CORP              | US        |    620000 | PA      | $471975.00    | 0.11%             | 2029-05-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| ROCKCLIFF ENERGY II LLC                   | Rockcliff Energy II LLC                                                          | CUSIP: 77289KAA3<br>LEI: 5493007AZNVKZ5HEMT23 | Long             | DBT              | CORP              | US        |    725000 | PA      | $690660.48    | 0.16%             | 2029-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FAIR ISAAC CORP                           | Fair Isaac Corp                                                                  | CUSIP: 303250AF1<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | DBT              | CORP              | US        |   3110000 | PA      | $2891584.70   | 0.67%             | 2028-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PRIMO WATER HOLDINGS INC                  | Primo Water Holdings Inc                                                         | CUSIP: 74168LAA4<br>LEI: 9845008F9A5F2E1D4832 | Long             | DBT              | CORP              | US        |   3300000 | PA      | $2883441.00   | 0.66%             | 2029-04-30      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| VZ SECURED FINANCING BV                   | VZ Secured Financing BV                                                          | CUSIP: 91845AAA3<br>LEI: 549300MG611MYCOWY949 | Long             | DBT              | CORP              | NL        |    870000 | PA      | $746016.30    | 0.17%             | 2032-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                          | CSC Holdings LLC                                                                 | CUSIP: 126307BA4<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |   1350000 | PA      | $852221.25    | 0.20%             | 2030-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| SCIENTIFIC GAMES INTERNA                  | Scientific Games International Inc                                               | CUSIP: 80874YBC3<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | DBT              | CORP              | US        |   2700000 | PA      | $2676640.84   | 0.62%             | 2028-05-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                     | Level 3 Financing Inc                                                            | CUSIP: 527298BS1<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |   1765000 | PA      | $1315807.50   | 0.30%             | 2029-01-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| AIR CANADA 2020-1C PTT                    | Air Canada 2020-1 Class C Pass Through Trust                                     | CUSIP: 008911BD0<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   2595000 | PA      | $2753131.07   | 0.63%             | 2026-07-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                    | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3330000 | PA      | $2913750.00   | 0.67%             | 2030-03-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| UNITED AIRLINES INC                       | United Airlines Inc                                                              | CUSIP: 90932LAG2<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | DBT              | CORP              | US        |    685000 | PA      | $651109.56    | 0.15%             | 2026-04-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| BRINK'S CO/THE                            | Brink's Co/The                                                                   | CUSIP: 109696AB0<br>LEI: XFP140TFNOQMIVFTVQ13 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1232825.00   | 0.28%             | 2025-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| TELECOM ITALIA CAPITAL                    | Telecom Italia Capital SA                                                        | CUSIP: 87927VAV0<br>LEI: 549300777DJZOR5C4L39 | Long             | DBT              | CORP              | LU        |   1340000 | PA      | $1157900.70   | 0.27%             | 2038-06-04      | Fixed         | 7.72%                 | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES INC                     | American Airlines Inc                                                            | CUSIP: 023771S58<br>LEI: IWUQB36BXD6OWD6X4T14 | Long             | DBT              | CORP              | US        |   1540000 | PA      | $1715798.70   | 0.40%             | 2025-07-15      | Fixed         | 11.75%                | No            |                  2 | On Loan: No      |
| ELANCO ANIMAL HEALTH INC                  | Elanco Animal Health Inc                                                         | CUSIP: 28414HAG8<br>LEI: 549300SHPNDCE059M934 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1226500.00   | 0.28%             | 2028-08-28      | Variable      | 6.40%                 | No            |                  2 | On Loan: No      |
| INTESA SANPAOLO SPA                       | Intesa Sanpaolo SpA                                                              | CUSIP: 46115HAT4<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | DBT              | CORP              | IT        |    500000 | PA      | $487965.52    | 0.11%             | 2024-06-26      | Fixed         | 5.02%                 | No            |                  2 | On Loan: No      |
| ARDAGH METAL PACKAGING                    | Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC      | CUSIP: 03969YAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |    464000 | PA      | $463308.64    | 0.11%             | 2027-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| AVIS BUDGET CAR/FINANCE                   | Avis Budget Car Rental LLC / Avis Budget Finance Inc                             | CUSIP: 053773BF3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    390000 | PA      | $349194.30    | 0.08%             | 2029-03-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                       | Petroleos Mexicanos                                                              | CUSIP: 71654QCG5<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |   2250000 | PA      | $2126974.93   | 0.49%             | 2027-03-13      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| DARLING INGREDIENTS INC                   | Darling Ingredients Inc                                                          | CUSIP: 237266AJ0<br>LEI: L1N0SPPKS7EXZYUMZ898 | Long             | DBT              | CORP              | US        |    665000 | PA      | $662516.23    | 0.15%             | 2030-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BERRY GLOBAL INC                          | Berry Global Inc                                                                 | CUSIP: 08576PAA9<br>LEI: 549300AP2Q7ERHX6RI89 | Long             | DBT              | CORP              | US        |   1589000 | PA      | $1543709.53   | 0.36%             | 2026-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK NY                          | Deutsche Bank AG/New York NY                                                     | CUSIP: 251526CF4<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |   1685000 | PA      | $1355720.99   | 0.31%             | 2032-01-14      | Fixed         | 3.73%                 | No            |                  2 | On Loan: No      |
| WESTERN MIDSTREAM OPERAT                  | Western Midstream Operating LP                                                   | CUSIP: 958254AH7<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |    909000 | PA      | $860023.08    | 0.20%             | 2028-03-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| WILLIAMS SCOTSMAN INTL                    | Williams Scotsman International Inc                                              | CUSIP: 71953LAA9<br>LEI: 549300V3TCHCBOBTGH07 | Long             | DBT              | CORP              | US        |    805000 | PA      | $809918.55    | 0.19%             | 2025-06-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| BATH & BODY WORKS INC                     | Bath & Body Works Inc                                                            | CUSIP: 501797AU8<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | DBT              | CORP              | US        |    817000 | PA      | $875346.06    | 0.20%             | 2025-07-01      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE SA                          | Altice France SA/France                                                          | CUSIP: 02156LAF8<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |   1635000 | PA      | $1285453.35   | 0.30%             | 2029-07-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| HARTFORD FINL SVCS GRP                    | Hartford Financial Services Group Inc/The                                        | CUSIP: 416515BC7<br>LEI: IU7C3FTM7Y3BQM112U94 | Long             | DBT              | CORP              | US        |   5400000 | PA      | $4631850.00   | 1.07%             | 2047-02-12      | Floating      | 6.73%                 | No            |                  2 | On Loan: No      |
| ENERSYS                                   | EnerSys                                                                          | CUSIP: 29275YAC6<br>LEI: 7ZS3DE5PN30BYUJFWP05 | Long             | DBT              | CORP              | US        |   1470000 | PA      | $1359456.00   | 0.31%             | 2027-12-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| TRI POINTE GROUP / HOMES                  | TRI Pointe Group Inc / TRI Pointe Homes Inc                                      | CUSIP: 962178AN9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3765000 | PA      | $3756284.03   | 0.87%             | 2024-06-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                     | Level 3 Financing Inc                                                            | CUSIP: 527298BT9<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    900000 | PA      | $659061.00    | 0.15%             | 2029-07-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| DISH DBS CORP                             | DISH DBS Corp                                                                    | CUSIP: 25470XBE4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1140000 | PA      | $984675.00    | 0.23%             | 2026-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MATCH GROUP HLD II LLC                    | Match Group Holdings II LLC                                                      | CUSIP: 57667JAA0<br>LEI: 5493003RFFE030RC9167 | Long             | DBT              | CORP              | US        |    900000 | PA      | $723415.50    | 0.17%             | 2031-10-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| GRAPHIC PACKAGING INTERN                  | Graphic Packaging International LLC                                              | CUSIP: 38869AAD9<br>LEI: SO75N4VY5NXGQSK8YQ65 | Long             | DBT              | CORP              | US        |    985000 | PA      | $854057.81    | 0.20%             | 2030-02-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| LPL HOLDINGS INC                          | LPL Holdings Inc                                                                 | CUSIP: 50212YAC8<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |   1395000 | PA      | $1329086.25   | 0.31%             | 2027-11-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| THOR INDUSTRIES                           | Thor Industries Inc                                                              | CUSIP: 885160AA9<br>LEI: 254900XZO1228PDSG060 | Long             | DBT              | CORP              | US        |   1135000 | PA      | $945193.95    | 0.22%             | 2029-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| EDGEWELL PERSONAL CARE                    | Edgewell Personal Care Co                                                        | CUSIP: 28035QAA0<br>LEI: 549300CY8QZDL4Z3RU59 | Long             | DBT              | CORP              | US        |   2120000 | PA      | $2010131.00   | 0.46%             | 2028-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SPRINT LLC                                | Sprint LLC                                                                       | CUSIP: 85207UAK1<br>LEI: 549300ZTTY7CXOLJ6539 | Long             | DBT              | CORP              | US        |   3685000 | PA      | $3902199.46   | 0.90%             | 2026-03-01      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP                         | Clarios Global LP                                                                | CUSIP: 18060TAA3<br>LEI: 549300474L1ZLXZY2P98 | Long             | DBT              | CORP              | CA        |    918000 | PA      | $924627.96    | 0.21%             | 2025-05-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CHENIERE ENERGY PARTNERS                  | Cheniere Energy Partners LP                                                      | CUSIP: 16411QAG6<br>LEI: 5493005UEC8AZ34LDV29 | Long             | DBT              | CORP              | US        |   2555000 | PA      | $2400703.55   | 0.55%             | 2029-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| MILEAGE PLUS HLDINGS LLC                  | Mileage Plus Holdings LLC / Mileage Plus Intellectual Property Assets Ltd        | CUSIP: 599191AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2416500 | PA      | $2444326.00   | 0.56%             | 2027-06-20      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                | GBP/USD FORWARD                                                                  | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-53619.02    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| TWILIO INC                                | Twilio Inc                                                                       | CUSIP: 90138FAC6<br>LEI: 5493004W8TRGD63APX93 | Long             | DBT              | CORP              | US        |    350000 | PA      | $297619.00    | 0.07%             | 2029-03-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| COMPASS MINERALS INTERNA                  | Compass Minerals International Inc                                               | CUSIP: 20451NAE1<br>LEI: 2549008X9G8XP7YJGC47 | Long             | DBT              | CORP              | US        |    655000 | PA      | $635398.40    | 0.15%             | 2024-07-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| SONIC AUTOMOTIVE INC                      | Sonic Automotive Inc                                                             | CUSIP: 83545GBE1<br>LEI: 549300NTLRGJ2JCBZU03 | Long             | DBT              | CORP              | US        |    825000 | PA      | $660000.00    | 0.15%             | 2031-11-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| LBM ACQUISITION LLC                       | LBM Acquisition LLC                                                              | CUSIP: 05552BAA4<br>LEI: 549300FAEB3VWZL4NI86 | Long             | DBT              | CORP              | US        |   1330000 | PA      | $1012662.00   | 0.23%             | 2029-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                         | Iron Mountain Inc                                                                | CUSIP: 46284VAC5<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |   1199000 | PA      | $1130429.19   | 0.26%             | 2027-09-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| AHLSTROM-MUNKSJO HLDG 3                   | Ahlstrom-Munksjo Holding 3 Oy                                                    | CUSIP: 84612JAA0<br>LEI: 743700UEY0YM039XN974 | Long             | DBT              | CORP              | FI        |   1350000 | PA      | $1168183.46   | 0.27%             | 2028-02-04      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| SIRIUS XM RADIO INC                       | Sirius XM Radio Inc                                                              | CUSIP: 82967NBG2<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |   2175000 | PA      | $1867922.63   | 0.43%             | 2030-07-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| NEXSTAR MEDIA INC                         | Nexstar Media Inc                                                                | CUSIP: 65343HAA9<br>LEI: 5493006PK6I4I2OOT688 | Long             | DBT              | CORP              | US        |    920000 | PA      | $877661.60    | 0.20%             | 2027-07-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| CAESARS ENTERTAIN INC                     | Caesars Entertainment Inc                                                        | CUSIP: 28470RAH5<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |   1290000 | PA      | $1286320.92   | 0.30%             | 2025-07-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                | USD/EUR FORWARD                                                                  | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |         1 | NC      | $12020.10     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                  | CHS/Community Health Systems Inc                                                 | CUSIP: 12543DBH2<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |    985000 | PA      | $865874.10    | 0.20%             | 2029-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                             | TransDigm Inc                                                                    | CUSIP: 893647BE6<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |   1085000 | PA      | $1085843.85   | 0.25%             | 2026-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                  | Ford Motor Credit Co LLC                                                         | CUSIP: 345397C27<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $955567.73    | 0.22%             | 2027-05-28      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| DKT FINANCE APS                           | DKT Finance ApS                                                                  | CUSIP: 255882AA0<br>LEI: 529900CPZ2SMDPG5RV48 | Long             | DBT              | CORP              | DK        |   1116000 | PA      | $1116714.24   | 0.26%             | 2023-06-17      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| ARAMARK SERVICES INC                      | Aramark Services Inc                                                             | CUSIP: 038522AR9<br>LEI: 42YMHYH0XMHJEXDUB065 | Long             | DBT              | CORP              | US        |    680000 | PA      | $681003.00    | 0.16%             | 2025-05-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| SPECTRUM BRANDS INC                       | Spectrum Brands Inc                                                              | CUSIP: 84762LAU9<br>LEI: 549300VU3EH2E73C1Q04 | Long             | DBT              | CORP              | US        |   1400000 | PA      | $1389953.46   | 0.32%             | 2025-07-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| VMED O2 UK FINAN                          | Vmed O2 UK Financing I PLC                                                       | CUSIP: 000000000<br>LEI: 213800MRR46ECNGZ7L69 | Long             | DBT              | CORP              | GB        |   1000000 | PA      | $989585.27    | 0.23%             | 2031-07-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| SONIC AUTOMOTIVE INC                      | Sonic Automotive Inc                                                             | CUSIP: 83545GBD3<br>LEI: 549300NTLRGJ2JCBZU03 | Long             | DBT              | CORP              | US        |   2795000 | PA      | $2326558.00   | 0.54%             | 2029-11-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| VIAVI SOLUTIONS INC                       | Viavi Solutions Inc                                                              | CUSIP: 925550AF2<br>LEI: 5493006K3E3N1QOBF092 | Long             | DBT              | CORP              | US        |   2320000 | PA      | $2027332.00   | 0.47%             | 2029-10-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| PRIME SECSRVC BRW/FINANC                  | Prime Security Services Borrower LLC / Prime Finance Inc                         | CUSIP: 74166MAF3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1915000 | PA      | $1701957.63   | 0.39%             | 2027-08-31      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| PBF HOLDING CO LLC                        | PBF Holding Co LLC / PBF Finance Corp                                            | CUSIP: 69318FAJ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1180268.75   | 0.27%             | 2028-02-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| SPCM SA                                   | SPCM SA                                                                          | CUSIP: 7846ELAE7<br>LEI: 969500F7036FEDYPRV54 | Long             | DBT              | CORP              | FR        |   2250000 | PA      | $1907156.25   | 0.44%             | 2030-03-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| MSCI INC                                  | MSCI Inc                                                                         | CUSIP: 55354GAL4<br>LEI: 549300HTIN2PD78UB763 | Long             | DBT              | CORP              | US        |   1330000 | PA      | $1175507.20   | 0.27%             | 2031-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| SENSATA TECHNOLOGIES BV                   | Sensata Technologies BV                                                          | CUSIP: 81725WAL7<br>LEI: PUCKW5P5O3XMOZVH7T53 | Long             | DBT              | CORP              | NL        |    244000 | PA      | $239728.78    | 0.06%             | 2030-09-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| SEAGATE HDD CAYMAN                        | Seagate HDD Cayman                                                               | CUSIP: 81180WBD2<br>LEI: 529900BD50TRWEG1SF63 | Long             | DBT              | CORP              | KY        |    206000 | PA      | $173278.96    | 0.04%             | 2031-01-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| ARKO CORP                                 | Arko Corp                                                                        | CUSIP: 041242AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2150000 | PA      | $1707884.75   | 0.39%             | 2029-11-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| HEALTHEQUITY INC                          | HealthEquity Inc                                                                 | CUSIP: 42226AAA5<br>LEI: 529900LRJU1RAFQHM467 | Long             | DBT              | CORP              | US        |   1665000 | PA      | $1492755.75   | 0.34%             | 2029-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CROWNROCK LP/CROWNROCK F                  | CrownRock LP / CrownRock Finance Inc                                             | CUSIP: 228701AG3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1025000 | PA      | $940001.16    | 0.22%             | 2029-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TK ELEVATOR US NEWCO INC                  | TK Elevator US Newco Inc                                                         | CUSIP: 92537RAA7<br>LEI: 549300C2AFWPAYWS5574 | Long             | DBT              | CORP              | US        |   1600000 | PA      | $1483152.00   | 0.34%             | 2027-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                  | Ford Motor Credit Co LLC                                                         | CUSIP: 345397ZQ9<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   1100000 | PA      | $1093357.23   | 0.25%             | 2024-03-18      | Fixed         | 5.58%                 | No            |                  2 | On Loan: No      |
| VICI PROPERTIES / NOTE                    | VICI Properties LP / VICI Note Co Inc                                            | CUSIP: 92564RAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    375000 | PA      | $354390.40    | 0.08%             | 2026-12-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                  | Ford Motor Credit Co LLC                                                         | CUSIP: 345397A60<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   1400000 | PA      | $1377452.44   | 0.32%             | 2025-06-16      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| WASH MULTIFAM ACQ INC                     | WASH Multifamily Acquisition Inc                                                 | CUSIP: 93710WAA3<br>LEI: 549300AS7PRY5PHG6L12 | Long             | DBT              | CORP              | US        |   3065000 | PA      | $2832116.43   | 0.65%             | 2026-04-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| GARDA WORLD SECURITY                      | Garda World Security Corp                                                        | CUSIP: 36485MAK5<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | DBT              | CORP              | CA        |   2330000 | PA      | $2123620.25   | 0.49%             | 2027-02-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| KRONOS ACQ / KIK CUSTOM                   | Kronos Acquisition Holdings Inc / KIK Custom Products Inc                        | CUSIP: 50106GAE2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1605000 | PA      | $1458985.13   | 0.34%             | 2026-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALLON PETROLEUM CO                       | Callon Petroleum Co                                                              | CUSIP: 13123XAZ5<br>LEI: 549300EFOWPEB0WLZW21 | Long             | DBT              | CORP              | US        |    640000 | PA      | $617056.97    | 0.14%             | 2026-07-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| 1011778 BC / NEW RED FIN                  | 1011778 BC ULC / New Red Finance Inc                                             | CUSIP: 68245XAK5<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   1855000 | PA      | $1854536.05   | 0.43%             | 2025-04-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| EQM MIDSTREAM PARTNERS L                  | EQM Midstream Partners LP                                                        | CUSIP: 26885BAL4<br>LEI: 549300NELT611CL6XM83 | Long             | DBT              | CORP              | US        |   3620000 | PA      | $3066818.75   | 0.71%             | 2031-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ASCENT RESOURCES/ARU FIN                  | Ascent Resources Utica Holdings LLC / ARU Finance Corp                           | CUSIP: 04364VAR4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    970000 | PA      | $951285.63    | 0.22%             | 2028-12-31      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| EDISON INTERNATIONAL                      | Edison International                                                             | CUSIP: 281020AT4<br>LEI: 549300I7ROF15MAEVP56 | Long             | DBT              | CORP              | US        |   1695000 | PA      | $1511245.05   | 0.35%             | N/A             | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JETBLUE 2020-1 CLASS B                    | JetBlue 2020-1 Class B Pass Through Trust                                        | CUSIP: 477164AB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    633058 | PA      | $627167.40    | 0.14%             | 2028-11-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| PBF HOLDING CO LLC                        | PBF Holding Co LLC / PBF Finance Corp                                            | CUSIP: 69318FAG3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1310000 | PA      | $1306829.80   | 0.30%             | 2025-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| VICTORIA'S SECRET & CO                    | Victoria's Secret & Co                                                           | CUSIP: 926400AA0<br>LEI: 5493006T3O70U3UWVF17 | Long             | DBT              | CORP              | US        |   2615000 | PA      | $2176150.70   | 0.50%             | 2029-07-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| SOTHEBY'S                                 | Sotheby's                                                                        | CUSIP: 835898AH0<br>LEI: 549300P5BAAMQQ7VL735 | Long             | DBT              | CORP              | US        |   1800000 | PA      | $1731730.95   | 0.40%             | 2027-10-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| CLEARWAY ENERGY OP LLC                    | Clearway Energy Operating LLC                                                    | CUSIP: 18539UAD7<br>LEI: 549300Z3NFMM54NWBB87 | Long             | DBT              | CORP              | US        |    470000 | PA      | $397697.55    | 0.09%             | 2031-02-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                | GBP/USD FORWARD                                                                  | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |         1 | NC      | $5394.40      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| SUNOCO LP/FINANCE CORP                    | Sunoco LP / Sunoco Finance Corp                                                  | CUSIP: 86765LAT4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    547000 | PA      | $495623.03    | 0.11%             | 2029-05-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                  | CHS/Community Health Systems Inc                                                 | CUSIP: 12543DBM1<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |   2250000 | PA      | $1818427.50   | 0.42%             | 2030-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK NY                          | Deutsche Bank AG/New York NY                                                     | CUSIP: 25160PAG2<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |   2835000 | PA      | $2242408.68   | 0.52%             | 2033-01-07      | Fixed         | 3.74%                 | No            |                  2 | On Loan: No      |
| XHR LP                                    | XHR LP                                                                           | CUSIP: 98372MAC9<br>LEI: 549300M88BPT83ZL2164 | Long             | DBT              | CORP              | US        |    925000 | PA      | $822038.25    | 0.19%             | 2029-06-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| TELEFLEX INC                              | Teleflex Inc                                                                     | CUSIP: 879369AG1<br>LEI: UUL85LWXB4NGSWWXIQ25 | Long             | DBT              | CORP              | US        |   1730000 | PA      | $1597820.60   | 0.37%             | 2028-06-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                          | CSC Holdings LLC                                                                 | CUSIP: 126307AH0<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3430000.00   | 0.79%             | 2024-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CREDIT SUISSE NEW YORK                    | Credit Suisse AG/New York NY                                                     | CUSIP: 22550L2L4<br>LEI: 549300D0YARF5HYP1809 | Long             | DBT              | CORP              | CH        |   1895000 | PA      | $1941982.37   | 0.45%             | 2025-01-09      | Fixed         | 7.95%                 | No            |                  2 | On Loan: No      |
| GFL ENVIRONMENTAL INC                     | GFL Environmental Inc                                                            | CUSIP: 36168QAF1<br>LEI: 549300FYK4MBXWIVZU26 | Long             | DBT              | CORP              | CA        |    800000 | PA      | $779140.00    | 0.18%             | 2026-12-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| NESCO HOLDINGS II INC                     | NESCO Holdings II Inc                                                            | CUSIP: 64083YAA9<br>LEI: 254900FAHT0HW9T6L409 | Long             | DBT              | CORP              | US        |   1445000 | PA      | $1299683.58   | 0.30%             | 2029-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC                         | Herc Holdings Inc                                                                | CUSIP: 42704LAA2<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |   3605000 | PA      | $3456293.75   | 0.80%             | 2027-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CLEARWAY ENERGY OP LLC                    | Clearway Energy Operating LLC                                                    | CUSIP: 18539UAE5<br>LEI: 549300Z3NFMM54NWBB87 | Long             | DBT              | CORP              | US        |   1690000 | PA      | $1394978.31   | 0.32%             | 2032-01-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| WEEKLEY HOMES LLC/ FINAN                  | Weekley Homes LLC / Weekley Finance Corp                                         | CUSIP: 948565AD8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    770000 | PA      | $671143.55    | 0.15%             | 2028-09-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| 1011778 BC / NEW RED FIN                  | 1011778 BC ULC / New Red Finance Inc                                             | CUSIP: 68245XAM1<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   1425000 | PA      | $1214890.88   | 0.28%             | 2030-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SOTHEBY'S/BIDFAIR HLD                     | Sotheby's/Bidfair Holdings Inc                                                   | CUSIP: 83600GAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2065000 | PA      | $1768848.03   | 0.41%             | 2029-06-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| BROADCOM CRP / CAYMN FI                   | Broadcom Corp / Broadcom Cayman Finance Ltd                                      | CUSIP: 11134LAR0<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |   1650000 | PA      | $1547290.97   | 0.36%             | 2028-01-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                   | Royal Caribbean Cruises Ltd                                                      | CUSIP: 780153BK7<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |   3315000 | PA      | $2887802.58   | 0.67%             | 2027-07-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| DKT FINANCE APS                           | DKT Finance ApS                                                                  | CUSIP: 000000000<br>LEI: 529900CPZ2SMDPG5RV48 | Long             | DBT              | CORP              | DK        |    600000 | PA      | $652857.49    | 0.15%             | 2023-06-17      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| NOVELIS CORP                              | Novelis Corp                                                                     | CUSIP: 670001AH9<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |    885000 | PA      | $748280.78    | 0.17%             | 2031-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| CASCADES INC/USA INC                      | Cascades Inc/Cascades USA Inc                                                    | CUSIP: 14739LAB8<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |   1880000 | PA      | $1758053.80   | 0.41%             | 2028-01-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| CONTINENTAL RESOURCES                     | Continental Resources Inc/OK                                                     | CUSIP: 212015AS0<br>LEI: XXRTID9RYWOZ0UPIVR53 | Long             | DBT              | CORP              | US        |    391000 | PA      | $372347.41    | 0.09%             | 2028-01-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                             | TransDigm Inc                                                                    | CUSIP: 893647BL0<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |   2305000 | PA      | $2203789.39   | 0.51%             | 2027-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GYP HOLDINGS III CORP                     | GYP Holdings III Corp                                                            | CUSIP: 36261NAA5<br>LEI: 549300055I1KJWZH9690 | Long             | DBT              | CORP              | US        |    950000 | PA      | $805220.13    | 0.19%             | 2029-05-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| DT MIDSTREAM INC                          | DT Midstream Inc                                                                 | CUSIP: 23345MAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1054962.00   | 0.24%             | 2029-06-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| NEWS CORP                                 | News Corp                                                                        | CUSIP: 65249BAB5<br>LEI: 549300ITS31QK8VRBQ14 | Long             | DBT              | CORP              | US        |   1480000 | PA      | $1395336.60   | 0.32%             | 2032-02-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| CNTRL PARENT/CDK GLB INC                  | Central Parent Inc / CDK Global Inc                                              | CUSIP: 15477CAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1760000 | PA      | $1757717.46   | 0.41%             | 2029-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| CDI ESCROW ISSUER INC                     | CDI Escrow Issuer Inc                                                            | CUSIP: 12511VAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1470000 | PA      | $1394802.15   | 0.32%             | 2030-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| PERFORMANCE FOOD GROUP I                  | Performance Food Group Inc                                                       | CUSIP: 71376LAE0<br>LEI: 549300OMUOGBYK0FFO76 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $893640.00    | 0.21%             | 2029-08-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| SC GAMES HOLDIN/US FINCO                  | Scientific Games Holdings LP/Scientific Games US FinCo Inc                       | CUSIP: 80874DAA4<br>LEI: 549300W5GPFXXB6TQ330 | Long             | DBT              | CORP              | US        |    765000 | PA      | $682380.00    | 0.16%             | 2030-03-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| FORTRESS TRANS & INFRAST                  | Fortress Transportation and Infrastructure Investors LLC                         | CUSIP: 34960PAB7<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |   1150000 | PA      | $1114637.50   | 0.26%             | 2025-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                  | Vistra Operations Co LLC                                                         | CUSIP: 92840VAB8<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |   1060000 | PA      | $1025006.02   | 0.24%             | 2027-02-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| IMOLA MERGER CORP                         | Imola Merger Corp                                                                | CUSIP: 45258LAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1450000 | PA      | $1263588.00   | 0.29%             | 2029-05-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                | USD/EUR FORWARD                                                                  | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-314344.92   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| CHENIERE ENERGY INC                       | Cheniere Energy Inc                                                              | CUSIP: 16411RAK5<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | DBT              | CORP              | US        |   1020000 | PA      | $972473.10    | 0.22%             | 2028-10-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                          | T-Mobile USA Inc                                                                 | CUSIP: 87264AAT2<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |   1490000 | PA      | $1496256.51   | 0.34%             | 2027-04-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| IHEARTCOMMUNICATIONS INC                  | iHeartCommunications Inc                                                         | CUSIP: 45174HBE6<br>LEI: 54930076J6KDZL504O62 | Long             | DBT              | CORP              | US        |   1255000 | PA      | $1125609.50   | 0.26%             | 2027-08-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CNX MIDSTREAM PART LP                     | CNX Midstream Partners LP                                                        | CUSIP: 12654AAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1100000 | PA      | $932404.00    | 0.21%             | 2030-04-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                          | T-Mobile USA Inc                                                                 | CUSIP: 87264ABD6<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |   1515000 | PA      | $1458039.58   | 0.34%             | 2027-04-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| OI EUROPEAN GROUP BV                      | OI European Group BV                                                             | CUSIP: 67777LAD5<br>LEI: 72450053F5WRDY8CDZ66 | Long             | DBT              | CORP              | NL        |    875000 | PA      | $786581.25    | 0.18%             | 2030-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP/US FIN                  | Clarios Global LP / Clarios US Finance Co                                        | CUSIP: 69867DAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |    607000 | PA      | $603679.71    | 0.14%             | 2026-05-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL CALCASIEU                  | Venture Global Calcasieu Pass LLC                                                | CUSIP: 92328MAA1<br>LEI: 549300GKHS6RS20NLH85 | Long             | DBT              | CORP              | US        |   1720000 | PA      | $1533345.60   | 0.35%             | 2029-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| INNOPHOS HOLDINGS INC                     | Innophos Holdings Inc                                                            | CUSIP: 45774NAB4<br>LEI: XQ0331QX53IRX25OY417 | Long             | DBT              | CORP              | US        |   2107000 | PA      | $2080578.22   | 0.48%             | 2028-02-15      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| SOUTHWESTERN ENERGY CO                    | Southwestern Energy Co                                                           | CUSIP: 845467AL3<br>LEI: EFWMP121W54QV9MGOP87 | Long             | DBT              | CORP              | US        |   1100000 | PA      | $1091915.00   | 0.25%             | 2025-01-23      | Variable      | 5.70%                 | No            |                  2 | On Loan: No      |
| SBA COMMUNICATIONS CORP                   | SBA Communications Corp                                                          | CUSIP: 78410GAD6<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1387531.05   | 0.32%             | 2027-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| CAMELOT RETURN MERGER SU                  | Camelot Return Merger Sub Inc                                                    | CUSIP: 13323NAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1450000 | PA      | $1365175.00   | 0.31%             | 2028-08-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                           | United States Treasury Note/Bond                                                 | CUSIP: 9128284R8<br>LEI: 254900HROIFWPRGM1V77 | Short            | DBT              | UST               | US        | -24000000 | PA      | $-23371874.88 | -5.39%            | 2025-05-31      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| ENLINK MIDSTREAM LLC                      | EnLink Midstream LLC                                                             | CUSIP: 29336TAA8<br>LEI: 54930000GY1H533OBE23 | Long             | DBT              | CORP              | US        |   2335000 | PA      | $2253275.00   | 0.52%             | 2029-06-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| YUM! BRANDS INC                           | Yum! Brands Inc                                                                  | CUSIP: 988498AR2<br>LEI: 549300JE8XHZZ7OHN517 | Long             | DBT              | CORP              | US        |   2950000 | PA      | $2802632.75   | 0.65%             | 2032-04-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| CALLON PETROLEUM CO                       | Callon Petroleum Co                                                              | CUSIP: 13123XBF8<br>LEI: 549300EFOWPEB0WLZW21 | Long             | DBT              | CORP              | US        |   1310000 | PA      | $1269134.55   | 0.29%             | 2030-06-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| RAIN CII CARBON LLC/CII                   | Rain CII Carbon LLC / CII Carbon Corp                                            | CUSIP: 75079RAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    305000 | PA      | $287283.14    | 0.07%             | 2025-04-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| ENERGIZER HOLDINGS INC                    | Energizer Holdings Inc                                                           | CUSIP: 29272WAD1<br>LEI: 5493000D6NN0V57UME20 | Long             | DBT              | CORP              | US        |   1185000 | PA      | $1030624.13   | 0.24%             | 2029-03-31      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                  | Hilcorp Energy I LP / Hilcorp Finance Co                                         | CUSIP: 431318AV6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1320000 | PA      | $1225554.00   | 0.28%             | 2031-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD                       | NCL Corp Ltd                                                                     | CUSIP: 62886HBE0<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |   2220000 | PA      | $2067097.50   | 0.48%             | 2027-02-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| NMI HOLDINGS                              | NMI Holdings Inc                                                                 | CUSIP: 629209AA5<br>LEI: 529900KNNGFXJX1C3Z08 | Long             | DBT              | CORP              | US        |    505000 | PA      | $511274.63    | 0.12%             | 2025-06-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD                       | NCL Corp Ltd                                                                     | CUSIP: 62886HBG5<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |    765000 | PA      | $658829.48    | 0.15%             | 2029-02-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| BLOCK INC                                 | Block Inc                                                                        | CUSIP: 852234AP8<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |    700000 | PA      | $585543.56    | 0.13%             | 2031-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| ARCHES BUYER INC                          | Arches Buyer Inc                                                                 | CUSIP: 039524AA1<br>LEI: 2549009ADY4208OH2Y47 | Long             | DBT              | CORP              | US        |   1235000 | PA      | $1039048.73   | 0.24%             | 2028-06-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| NCR CORP                                  | NCR Corp                                                                         | CUSIP: 62886EBA5<br>LEI: 549300YKTY8JX1DV2R67 | Long             | DBT              | CORP              | US        |    934000 | PA      | $814816.22    | 0.19%             | 2029-04-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| AMSTED INDUSTRIES                         | Amsted Industries Inc                                                            | CUSIP: 032177AH0<br>LEI: N2VLGYMEEBIU3PFSUY86 | Long             | DBT              | CORP              | US        |   1065000 | PA      | $1047693.75   | 0.24%             | 2027-07-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| UPC HOLDING BV                            | UPC Holding BV                                                                   | CUSIP: 90320LAG2<br>LEI: 213800G1DU7LKI6ZCD69 | Long             | DBT              | CORP              | NL        |   1820000 | PA      | $1663207.00   | 0.38%             | 2028-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CENTENE CORP                              | Centene Corp                                                                     | CUSIP: 15135BAT8<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |   4010000 | PA      | $3814672.90   | 0.88%             | 2029-12-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                | USD/EUR FORWARD                                                                  | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-5092.11     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| NETFLIX INC                               | Netflix Inc                                                                      | CUSIP: 64110LAS5<br>LEI: 549300Y7VHGU0I7CE873 | Long             | DBT              | CORP              | US        |   3100000 | PA      | $3092327.50   | 0.71%             | 2028-04-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| COMMSCOPE INC                             | CommScope Inc                                                                    | CUSIP: 20338QAD5<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |   2380000 | PA      | $2281646.50   | 0.53%             | 2026-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BALL CORP                                 | Ball Corp                                                                        | CUSIP: 058498AY2<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | DBT              | CORP              | US        |   2009000 | PA      | $2074553.67   | 0.48%             | 2028-03-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| ZIGGO BOND CO BV                          | Ziggo Bond Co BV                                                                 | CUSIP: 98953GAD7<br>LEI: 213800JYI4P7V5QDOG59 | Long             | DBT              | CORP              | NL        |   2700000 | PA      | $2235141.00   | 0.52%             | 2030-02-28      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| TEGNA INC                                 | TEGNA Inc                                                                        | CUSIP: 87901JAJ4<br>LEI: 549300YC5EDBGX85AO10 | Long             | DBT              | CORP              | US        |    410000 | PA      | $385271.88    | 0.09%             | 2028-03-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| GATES GLOBAL/GATES CORP                   | Gates Global LLC / Gates Corp                                                    | CUSIP: 36740LAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1950000 | PA      | $1922987.63   | 0.44%             | 2026-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                  | Ford Motor Credit Co LLC                                                         | CUSIP: 345397ZR7<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4745487.50   | 1.09%             | 2029-05-03      | Fixed         | 5.11%                 | No            |                  2 | On Loan: No      |
| Michaels Companies Inc (The)              | Michaels Cos Inc/The                                                             | CUSIP: 59408UAB3<br>LEI: 549300H9LWMBP7HYLR98 | Long             | LON              | CORP              | US        |   1074095 | PA      | $991191.42    | 0.23%             | 2028-04-15      | Floating      | 8.98%                 | No            |                  2 | On Loan: No      |
| UNITED AIRLINES INC                       | United Airlines Inc                                                              | CUSIP: 90932LAH0<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | DBT              | CORP              | US        |    895000 | PA      | $817739.32    | 0.19%             | 2029-04-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| SOUTHWESTERN ENERGY CO                    | Southwestern Energy Co                                                           | CUSIP: 845467AT6<br>LEI: EFWMP121W54QV9MGOP87 | Long             | DBT              | CORP              | US        |   1700000 | PA      | $1500692.00   | 0.35%             | 2032-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| GOODYEAR TIRE & RUBBER                    | Goodyear Tire & Rubber Co/The                                                    | CUSIP: 382550BG5<br>LEI: 5493002BI0S2ZQUY3437 | Long             | DBT              | CORP              | US        |    710000 | PA      | $665625.00    | 0.15%             | 2027-03-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| PERMIAN RESOURC OPTG LLC                  | Permian Resources Operating LLC                                                  | CUSIP: 15138AAC4<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |   2626000 | PA      | $2576618.07   | 0.59%             | 2027-04-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| CATALENT PHARMA SOLUTION                  | Catalent Pharma Solutions Inc                                                    | CUSIP: 14879EAH1<br>LEI: 549300HALRZ339MSTH85 | Long             | DBT              | CORP              | US        |   1300000 | PA      | $1077381.50   | 0.25%             | 2029-02-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| Securitized Asset Backed Recei            | Securitized Asset Backed Receivables LLC Trust 2006-FR4                          | CUSIP: 81377GAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   6411793 | PA      | $2104011.86   | 0.48%             | 2036-08-25      | Floating      | 4.67%                 | No            |                  2 | On Loan: No      |
| WESCO DISTRIBUTION INC                    | WESCO Distribution Inc                                                           | CUSIP: 95081QAN4<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |    880000 | PA      | $895188.80    | 0.21%             | 2025-06-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| COMMSCOPE INC                             | CommScope Inc                                                                    | CUSIP: 20338QAA1<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |    820000 | PA      | $698627.70    | 0.16%             | 2027-03-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| ALBERTSONS COS/SAFEWAY                    | Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC            | CUSIP: 013092AG6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3490000 | PA      | $3015586.85   | 0.69%             | 2029-03-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| ASCENT RESOURCES/ARU FIN                  | Ascent Resources Utica Holdings LLC / ARU Finance Corp                           | CUSIP: 04364VAU7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2624000 | PA      | $2313108.48   | 0.53%             | 2029-06-30      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| LCM INVESTMENTS HOLDINGS                  | LCM Investments Holdings II LLC                                                  | CUSIP: 50190EAA2<br>LEI: 549300P5V78NNQTG4428 | Long             | DBT              | CORP              | US        |    700000 | PA      | $578749.50    | 0.13%             | 2029-05-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| DIAMOND SPORTS GR/DIAMON                  | Diamond Sports Group LLC / Diamond Sports Finance Co                             | CUSIP: 25277LAF3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    745000 | PA      | $55409.38     | 0.01%             | 2026-08-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| MOSS CREEK RESOURCES HLD                  | Moss Creek Resources Holdings Inc                                                | CUSIP: 61965RAA3<br>LEI: 54930037SLMSPWKYIX36 | Long             | DBT              | CORP              | US        |   1081000 | PA      | $1000108.77   | 0.23%             | 2026-01-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                  | Occidental Petroleum Corp                                                        | CUSIP: 674599DZ5<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |   4280000 | PA      | $4740057.20   | 1.09%             | 2027-07-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| CLEAN HARBORS INC                         | Clean Harbors Inc                                                                | CUSIP: 184496AN7<br>LEI: 5493000SJVZVZJKHJF48 | Long             | DBT              | CORP              | US        |   1520000 | PA      | $1468365.60   | 0.34%             | 2027-07-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| GROUP 1 AUTOMOTIVE INC                    | Group 1 Automotive Inc                                                           | CUSIP: 398905AN9<br>LEI: 549300US8QAZJLWYAF63 | Long             | DBT              | CORP              | US        |    555000 | PA      | $488830.13    | 0.11%             | 2028-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BOXER PARENT CO INC                       | Boxer Parent Co Inc                                                              | CUSIP: 103186AB8<br>LEI: 5493006T045HLTF7YX04 | Long             | DBT              | CORP              | US        |    900000 | PA      | $892378.10    | 0.21%             | 2025-10-02      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| BOYD GAMING CORP                          | Boyd Gaming Corp                                                                 | CUSIP: 103304BU4<br>LEI: 254900787YGRYS2A1Z35 | Long             | DBT              | CORP              | US        |   1790000 | PA      | $1703502.73   | 0.39%             | 2027-12-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| TRITON WATER HOLDINGS IN                  | Triton Water Holdings Inc                                                        | CUSIP: 89680EAA7<br>LEI: 5493005IYCEL7QJFZZ63 | Long             | DBT              | CORP              | US        |    740000 | PA      | $588210.25    | 0.14%             | 2029-04-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| DCP MIDSTREAM OPERATING                   | DCP Midstream Operating LP                                                       | CUSIP: 23311VAK3<br>LEI: 549300Y6CTBSE0QIPL28 | Long             | DBT              | CORP              | US        |    695000 | PA      | $601633.70    | 0.14%             | 2032-02-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| POST HOLDINGS INC                         | Post Holdings Inc                                                                | CUSIP: 737446AQ7<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |   3510000 | PA      | $3092731.20   | 0.71%             | 2030-04-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| GREAT LAKES DREDGE&DOCK                   | Great Lakes Dredge & Dock Corp                                                   | CUSIP: 390607AF6<br>LEI: 549300H65E3MZ1CX0P05 | Long             | DBT              | CORP              | US        |    900000 | PA      | $759636.00    | 0.18%             | 2029-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                    | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPBR3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1850000 | PA      | $1819974.50   | 0.42%             | 2026-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GFL ENVIRONMENTAL INC                     | GFL Environmental Inc                                                            | CUSIP: 36168QAK0<br>LEI: 549300FYK4MBXWIVZU26 | Long             | DBT              | CORP              | CA        |    750000 | PA      | $713643.75    | 0.16%             | 2025-08-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| PTC INC                                   | PTC Inc                                                                          | CUSIP: 69370CAC4<br>LEI: 54930050SSMU8SKDJ030 | Long             | DBT              | CORP              | US        |    355000 | PA      | $331133.35    | 0.08%             | 2028-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                  | Ford Motor Credit Co LLC                                                         | CUSIP: 345397C43<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   1260000 | PA      | $1289943.90   | 0.30%             | 2026-03-06      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| OWENS-BROCKWAY                            | Owens-Brockway Glass Container Inc                                               | CUSIP: 69073TAT0<br>LEI: V2UQUCDZJ9WY98W8QU33 | Long             | DBT              | CORP              | US        |    984000 | PA      | $966034.93    | 0.22%             | 2027-05-13      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank, National Association | GBP/USD FORWARD                                                                  | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-5362.35     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| HOLLY NRG PRTNR/FIN CORP                  | Holly Energy Partners LP / Holly Energy Finance Corp                             | CUSIP: 435765AJ1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1145000 | PA      | $1133406.88   | 0.26%             | 2027-04-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                  | Warnermedia Holdings Inc                                                         | CUSIP: 55903VAG8<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |   3370000 | PA      | $3160183.29   | 0.73%             | 2027-03-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| COVANTA HOLDING CORP                      | Covanta Holding Corp                                                             | CUSIP: 22303XAA3<br>LEI: 40XIFLS8XDQGGHGPGC04 | Long             | DBT              | CORP              | US        |   2175000 | PA      | $1903440.38   | 0.44%             | 2029-12-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| MERITAGE HOMES CORP                       | Meritage Homes Corp                                                              | CUSIP: 59001AAY8<br>LEI: 52990044W9UMFJO2FB97 | Long             | DBT              | CORP              | US        |   1855000 | PA      | $1866890.55   | 0.43%             | 2025-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| SBA COMMUNICATIONS CORP                   | SBA Communications Corp                                                          | CUSIP: 78410GAG9<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | DBT              | CORP              | US        |   1840000 | PA      | $1561125.00   | 0.36%             | 2029-02-01      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| TRIMAS CORP                               | TriMas Corp                                                                      | CUSIP: 896215AH3<br>LEI: 75G1WUQ8QK4P5MZOYD78 | Long             | DBT              | CORP              | US        |   2515000 | PA      | $2241757.83   | 0.52%             | 2029-04-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| WYNN RESORTS FINANCE LLC                  | Wynn Resorts Finance LLC / Wynn Resorts Capital Corp                             | CUSIP: 983133AA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1485000 | PA      | $1327226.18   | 0.31%             | 2029-10-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| FIRSTENERGY CORP                          | FirstEnergy Corp                                                                 | CUSIP: 337932AH0<br>LEI: 549300SVYJS666PQJH88 | Long             | DBT              | CORP              | US        |   1355000 | PA      | $1296599.50   | 0.30%             | 2027-07-15      | Variable      | 4.15%                 | No            |                  2 | On Loan: No      |
| ZI TECH LLC/ZI FIN CORP                   | ZoomInfo Technologies LLC/ZoomInfo Finance Corp                                  | CUSIP: 98981BAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    640000 | PA      | $552854.40    | 0.13%             | 2029-02-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| PARK INTERMED HOLDINGS                    | Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co-Issuer | CUSIP: 70052LAC7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2650000 | PA      | $2294252.45   | 0.53%             | 2029-05-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| HALLIBURTON CO                            | Halliburton Co                                                                   | CUSIP: 406216BL4<br>LEI: ENYF8GB5SMQZ25S06U51 | Short            | DBT              | CORP              | US        |  -1600000 | PA      | $-1429637.28  | -0.33%            | 2030-03-01      | Fixed         | 2.92%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                             | Citigroup Inc                                                                    | CUSIP: 172967MK4<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   3935000 | PA      | $3605148.23   | 0.83%             | N/A             | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| SERVICE CORP INTL                         | Service Corp International/US                                                    | CUSIP: 817565BT0<br>LEI: 549300RKVM2ME20JHZ15 | Long             | DBT              | CORP              | US        |   4750000 | PA      | $4965016.78   | 1.14%             | 2027-04-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| SM ENERGY CO                              | SM Energy Co                                                                     | CUSIP: 78454LAL4<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |   1913000 | PA      | $1876920.82   | 0.43%             | 2025-06-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| COMSTOCK RESOURCES INC                    | Comstock Resources Inc                                                           | CUSIP: 205768AS3<br>LEI: I03QQGEA4SS774AURI46 | Long             | DBT              | CORP              | US        |   2050000 | PA      | $1893872.00   | 0.44%             | 2029-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL CALCASIEU                  | Venture Global Calcasieu Pass LLC                                                | CUSIP: 92328MAE3<br>LEI: 549300GKHS6RS20NLH85 | Long             | DBT              | CORP              | US        |   1875000 | PA      | $1912265.63   | 0.44%             | 2030-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| DELL INT LLC / EMC CORP                   | Dell International LLC / EMC Corp                                                | CUSIP: 24703TAK2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1235000 | PA      | $1492986.76   | 0.34%             | 2046-07-15      | Fixed         | 8.35%                 | No            |                  2 | On Loan: No      |
| PARK INTERMED HOLDINGS                    | Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co-Issuer | CUSIP: 70052LAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    700000 | PA      | $648634.00    | 0.15%             | 2028-10-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CANPACK SA/CANPACK US                     | Canpack SA / Canpack US LLC                                                      | CUSIP: 13805AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |   2240000 | PA      | $2041760.00   | 0.47%             | 2025-11-01      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| VISTRA CORP                               | Vistra Corp                                                                      | CUSIP: 92840MAB8<br>LEI: 549300KP43CPCUJOOG15 | Long             | DBT              | CORP              | US        |   6595000 | PA      | $6473388.20   | 1.49%             | N/A             | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| ICAHN ENTERPRISES/FIN                     | Icahn Enterprises LP / Icahn Enterprises Finance Corp                            | CUSIP: 451102BZ9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2100000 | PA      | $1958071.37   | 0.45%             | 2027-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEWS CORP                                 | News Corp                                                                        | CUSIP: 65249BAA7<br>LEI: 549300ITS31QK8VRBQ14 | Long             | DBT              | CORP              | US        |    945000 | PA      | $846852.30    | 0.20%             | 2029-05-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                            | Bombardier Inc                                                                   | CUSIP: 097751BX8<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |    715000 | PA      | $679048.65    | 0.16%             | 2028-02-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| LAMB WESTON HLD                           | Lamb Weston Holdings Inc                                                         | CUSIP: 513272AC8<br>LEI: 5493005SMYID1D2OY946 | Long             | DBT              | CORP              | US        |    288000 | PA      | $278910.00    | 0.06%             | 2028-05-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| EVERI HOLDINGS INC                        | Everi Holdings Inc                                                               | CUSIP: 30034TAA1<br>LEI: 5299006DK5S7BG10K532 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1087410.00   | 0.25%             | 2029-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                            | Bombardier Inc                                                                   | CUSIP: 097751BZ3<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |    188000 | PA      | $188026.32    | 0.04%             | 2029-02-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| SOUTHWESTERN ENERGY CO                    | Southwestern Energy Co                                                           | CUSIP: 845467AP4<br>LEI: EFWMP121W54QV9MGOP87 | Long             | DBT              | CORP              | US        |    730000 | PA      | $767580.40    | 0.18%             | 2028-09-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| MELCO RESORTS FINANCE                     | Melco Resorts Finance Ltd                                                        | CUSIP: 58547DAE9<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    700000 | PA      | $631088.63    | 0.15%             | 2028-07-21      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| GARDA WORLD SECURITY COR                  | Garda World Security Corp                                                        | CUSIP: 36257BAA7<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | DBT              | CORP              | CA        |   3410000 | PA      | $3372416.62   | 0.78%             | 2027-11-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| HERTZ CORP/THE                            | Hertz Corp/The                                                                   | CUSIP: 428040DA4<br>LEI: 549300PD0C69OJ0NLB27 | Long             | DBT              | CORP              | US        |    750000 | PA      | $668437.50    | 0.15%             | 2026-12-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| IHEARTCOMMUNICATIONS INC                  | iHeartCommunications Inc                                                         | CUSIP: 45174HBG1<br>LEI: 54930076J6KDZL504O62 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1070346.88   | 0.25%             | 2028-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| SS&C TECHNOLOGIES INC                     | SS&C Technologies Inc                                                            | CUSIP: 78466CAC0<br>LEI: 549300KY09TR3J12JU49 | Long             | DBT              | CORP              | US        |    690000 | PA      | $664421.15    | 0.15%             | 2027-09-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                             | TransDigm Inc                                                                    | CUSIP: 893647BK2<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    625000 | PA      | $637893.75    | 0.15%             | 2025-12-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| LINCOLN NATIONAL CORP                     | Lincoln National Corp                                                            | CUSIP: 534187BN8<br>LEI: EFQMQROEDSNBRIP7LE47 | Long             | DBT              | CORP              | US        |   3500000 | PA      | $2818375.00   | 0.65%             | 2066-05-17      | Floating      | 7.01%                 | No            |                  2 | On Loan: No      |
| CROWN AMERICAS LLC                        | Crown Americas LLC                                                               | CUSIP: 228180AB1<br>LEI: RPPGGRL1J75WGF2DFO04 | Long             | DBT              | CORP              | US        |    936000 | PA      | $901878.12    | 0.21%             | 2030-04-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SOUTHWESTERN ENERGY CO                    | Southwestern Energy Co                                                           | CUSIP: 845467AS8<br>LEI: EFWMP121W54QV9MGOP87 | Long             | DBT              | CORP              | US        |   3265000 | PA      | $3045510.38   | 0.70%             | 2030-03-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| CHART INDUSTRIES INC                      | Chart Industries Inc                                                             | CUSIP: 16115QAF7<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | DBT              | CORP              | US        |    580000 | PA      | $593775.00    | 0.14%             | 2030-01-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CNX RESOURCES CORP                        | CNX Resources Corp                                                               | CUSIP: 12653CAJ7<br>LEI: 549300JK3KH8PWM3B226 | Long             | DBT              | CORP              | US        |    822000 | PA      | $755859.43    | 0.17%             | 2029-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| DISH DBS CORP                             | DISH DBS Corp                                                                    | CUSIP: 25470XBB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1273000 | PA      | $916279.94    | 0.21%             | 2028-07-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| CARPENTER TECHNOLOGY                      | Carpenter Technology Corp                                                        | CUSIP: 144285AM5<br>LEI: DX6I6ZD3X5WNNCDJKP85 | Long             | DBT              | CORP              | US        |   1276000 | PA      | $1311217.60   | 0.30%             | 2030-03-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                          | T-Mobile USA Inc                                                                 | CUSIP: 87264ABR5<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    565000 | PA      | $524461.48    | 0.12%             | 2026-02-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| HESS MIDSTREAM OPERATION                  | Hess Midstream Operations LP                                                     | CUSIP: 428102AE7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1040000 | PA      | $912275.00    | 0.21%             | 2030-02-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CANPACK SA/CANPACK US                     | Canpack SA / Canpack US LLC                                                      | CUSIP: 13806CAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |    450000 | PA      | $374211.00    | 0.09%             | 2029-11-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| ALLIED UNIVERSAL                          | Allied Universal Holdco LLC / Allied Universal Finance Corp                      | CUSIP: 019576AA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3225000 | PA      | $3108883.88   | 0.72%             | 2026-07-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| MEG ENERGY CORP                           | MEG Energy Corp                                                                  | CUSIP: 552704AE8<br>LEI: 5493002WXPTG5ZC1T326 | Long             | DBT              | CORP              | CA        |   2065000 | PA      | $2120827.28   | 0.49%             | 2027-02-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                      | OneMain Finance Corp                                                             | CUSIP: 85172FAP4<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |   1540000 | PA      | $1528758.00   | 0.35%             | 2024-03-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| ENDEAVOR ENERGY RESOURCE                  | Endeavor Energy Resources LP / EER Finance Inc                                   | CUSIP: 29260FAE0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5140000 | PA      | $5042340.00   | 1.16%             | 2028-01-30      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                            | Bombardier Inc                                                                   | CUSIP: 097751BV2<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |   1385000 | PA      | $1383545.75   | 0.32%             | 2026-06-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| DCP MIDSTREAM OPERATING                   | DCP Midstream Operating LP                                                       | CUSIP: 23311VAH0<br>LEI: 549300Y6CTBSE0QIPL28 | Long             | DBT              | CORP              | US        |    934000 | PA      | $932132.00    | 0.21%             | 2029-05-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| ARDAGH METAL PACKAGING                    | Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC      | CUSIP: 03969YAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |   1815000 | PA      | $1594931.25   | 0.37%             | 2028-09-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| AFFINITY GAMING                           | Affinity Gaming                                                                  | CUSIP: 00842XAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1730000 | PA      | $1551282.35   | 0.36%             | 2027-12-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| ARAMARK SERVICES INC                      | Aramark Services Inc                                                             | CUSIP: 038522AQ1<br>LEI: 42YMHYH0XMHJEXDUB065 | Long             | DBT              | CORP              | US        |   1075000 | PA      | $1014692.50   | 0.23%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ENDURANCE INTERNATIONAL                   | Endurance International Group Holdings Inc                                       | CUSIP: 29279XAA8<br>LEI: 549300UTQC2651SB0W88 | Long             | DBT              | CORP              | US        |    349000 | PA      | $248465.63    | 0.06%             | 2029-02-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Trugreen Limited Partnership              | TruGreen LP                                                                      | CUSIP: 89787RAK8<br>LEI: 549300QNRP2MNHR3QM19 | Long             | LON              | CORP              | US        |   5800000 | PA      | $4176000.00   | 0.96%             | 2028-11-02      | Floating      | 13.18%                | No            |                  2 | On Loan: No      |
| HESS MIDSTREAM OPERATION                  | Hess Midstream Operations LP                                                     | CUSIP: 428102AC1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    791000 | PA      | $784130.17    | 0.18%             | 2026-02-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| TITAN ACQ/CO-BORROWER                     | Titan Acquisition Ltd / Titan Co-Borrower LLC                                    | CUSIP: 88827AAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |   2380000 | PA      | $2255192.80   | 0.52%             | 2026-04-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| AETHON UN/AETHIN UN FIN                   | Aethon United BR LP / Aethon United Finance Corp                                 | CUSIP: 00810GAC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1195608.00   | 0.28%             | 2026-02-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| CALPINE CORP                              | Calpine Corp                                                                     | CUSIP: 131347CR5<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |   2205000 | PA      | $1841203.22   | 0.42%             | 2031-03-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| HILTON DOMESTIC OPERATIN                  | Hilton Domestic Operating Co Inc                                                 | CUSIP: 432833AF8<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |   1800000 | PA      | $1699327.80   | 0.39%             | 2030-01-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| HILTON DOMESTIC OPERATIN                  | Hilton Domestic Operating Co Inc                                                 | CUSIP: 432833AL5<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |   1725000 | PA      | $1497231.00   | 0.35%             | 2031-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                  | Hilcorp Energy I LP / Hilcorp Finance Co                                         | CUSIP: 431318AU8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1845000 | PA      | $1718119.35   | 0.40%             | 2029-02-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| TRANSOCEAN TITAN FIN LTD                  | Transocean Titan Financing Ltd                                                   | CUSIP: 89386MAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    300000 | PA      | $311721.00    | 0.07%             | 2028-02-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| ARCHES BUYER INC                          | Arches Buyer Inc                                                                 | CUSIP: 039524AB9<br>LEI: 2549009ADY4208OH2Y47 | Long             | DBT              | CORP              | US        |   2300000 | PA      | $1940349.00   | 0.45%             | 2028-12-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD                       | NCL Corp Ltd                                                                     | CUSIP: 62886HBL4<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |    845000 | PA      | $859694.55    | 0.20%             | 2028-02-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL CALCASIEU                  | Venture Global Calcasieu Pass LLC                                                | CUSIP: 92328MAB9<br>LEI: 549300GKHS6RS20NLH85 | Long             | DBT              | CORP              | US        |   2645000 | PA      | $2348773.23   | 0.54%             | 2031-08-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| UBER TECHNOLOGIES INC                     | Uber Technologies Inc                                                            | CUSIP: 90353TAF7<br>LEI: 549300B2FTG34FILDR98 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3046824.00   | 0.70%             | 2025-05-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| STATION CASINOS LLC                       | Station Casinos LLC                                                              | CUSIP: 857691AG4<br>LEI: 5493004E7Q60TX54WL62 | Long             | DBT              | CORP              | US        |   1550000 | PA      | $1397356.00   | 0.32%             | 2028-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| UNITED RENTALS NORTH AM                   | United Rentals North America Inc                                                 | CUSIP: 911365BQ6<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |   1850000 | PA      | $1880081.00   | 0.43%             | 2029-12-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CAESARS RESORT / FINCO                    | Caesars Resort Collection LLC / CRC Finco Inc                                    | CUSIP: 12770RAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1055000 | PA      | $1056408.43   | 0.24%             | 2025-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| AMER AGCREDIT ACA                         | American AgCredit Corp                                                           | CUSIP: 02369GAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3175000 | PA      | $2797968.81   | 0.64%             | N/A             | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PRESTIGE BRANDS INC                       | Prestige Brands Inc                                                              | CUSIP: 74112BAM7<br>LEI: 549300JBVP4J6D42I235 | Long             | DBT              | CORP              | US        |    990000 | PA      | $841965.30    | 0.19%             | 2031-04-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                      | Bank of America Corp                                                             | CUSIP: 060505EU4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   2940000 | PA      | $2989098.00   | 0.69%             | N/A             | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| CNX RESOURCES CORP                        | CNX Resources Corp                                                               | CUSIP: 12653CAC2<br>LEI: 549300JK3KH8PWM3B226 | Long             | DBT              | CORP              | US        |    192000 | PA      | $191315.52    | 0.04%             | 2027-03-14      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| TRANSOCEAN INC                            | Transocean Inc                                                                   | CUSIP: 893830BX6<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | KY        |    662000 | PA      | $683432.25    | 0.16%             | 2030-02-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| ADS Tactical Inc                          | ADS Tactical                                                                     | CUSIP: 00737BAD7<br>LEI: 549300N0X4211SRFZV95 | Long             | LON              | CORP              | US        |   2737500 | PA      | $2536745.44   | 0.58%             | 2026-03-19      | Floating      | 10.30%                | No            |                  2 | On Loan: No      |
| Vistra Energy Corp                        | Vistra Energy Corp                                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     13918 | NS      | $17279.20     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| YUM! BRANDS INC                           | Yum! Brands Inc                                                                  | CUSIP: 988498AL5<br>LEI: 549300JE8XHZZ7OHN517 | Long             | DBT              | CORP              | US        |   1135000 | PA      | $1063080.73   | 0.24%             | 2030-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| VICI PROPERTIES / NOTE                    | VICI Properties LP / VICI Note Co Inc                                            | CUSIP: 92564RAF2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2295000 | PA      | $2293011.80   | 0.53%             | 2024-05-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| HCA INC                                   | HCA Inc                                                                          | CUSIP: 404119BS7<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   1495000 | PA      | $1522348.05   | 0.35%             | 2026-02-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ENTEGRIS INC                              | Entegris Inc                                                                     | CUSIP: 29362UAC8<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | DBT              | CORP              | US        |   1900000 | PA      | $1721400.00   | 0.40%             | 2028-04-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                             | TransDigm Inc                                                                    | CUSIP: 893647BB2<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |   1800000 | PA      | $1779840.00   | 0.41%             | 2026-06-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| ALLIED UNIVERSAL                          | Allied Universal Holdco LLC / Allied Universal Finance Corp                      | CUSIP: 019576AC1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    685000 | PA      | $552010.68    | 0.13%             | 2029-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| PENN ENTERTAINMENT INC                    | Penn Entertainment Inc                                                           | CUSIP: 707569AV1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    524000 | PA      | $432985.85    | 0.10%             | 2029-07-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| FRST STU BID/FRST TRANS                   | First Student Bidco Inc / First Transit Parent Inc                               | CUSIP: 337120AA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    714000 | PA      | $595407.16    | 0.14%             | 2029-07-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| AVIENT CORP                               | Avient Corp                                                                      | CUSIP: 05368VAA4<br>LEI: SM8L9RZYIB34LNTWO040 | Long             | DBT              | CORP              | US        |    435000 | PA      | $438794.77    | 0.10%             | 2030-08-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| HUB International Ltd                     | HUB International Ltd                                                            | CUSIP: 44332EAU0<br>LEI: 549300JQT6ATTUNS5E06 | Long             | LON              | CORP              | US        |    970200 | PA      | $970719.06    | 0.22%             | 2025-04-25      | Floating      | 8.06%                 | No            |                  2 | On Loan: No      |
| MATTEL INC                                | Mattel Inc                                                                       | CUSIP: 577081BD3<br>LEI: 549300VELLG24KHTJ564 | Long             | DBT              | CORP              | US        |   1585000 | PA      | $1582987.05   | 0.36%             | 2027-12-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| MINERVA LUXEMBOURG SA                     | Minerva Luxembourg SA                                                            | CUSIP: 603374AF6<br>LEI: 222100NM3G3RCPGZ2Z17 | Long             | DBT              | CORP              | LU        |   2500000 | PA      | $2121049.00   | 0.49%             | 2031-03-18      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| COMPASS MINERALS INTERNA                  | Compass Minerals International Inc                                               | CUSIP: 20451NAG6<br>LEI: 2549008X9G8XP7YJGC47 | Long             | DBT              | CORP              | US        |    628000 | PA      | $613441.67    | 0.14%             | 2027-12-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| VIKING CRUISES LTD                        | Viking Cruises Ltd                                                               | CUSIP: 92676XAD9<br>LEI: 549300IJP90T4MV2GL84 | Long             | DBT              | CORP              | BM        |    859000 | PA      | $733062.01    | 0.17%             | 2027-09-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| WHITE CAP BUYER LLC                       | White Cap Buyer LLC                                                              | CUSIP: 96350RAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    225000 | PA      | $205172.63    | 0.05%             | 2028-10-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                             | Carnival Corp                                                                    | CUSIP: 143658BN1<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    725000 | PA      | $602772.25    | 0.14%             | 2027-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES/AADVAN                  | American Airlines Inc/AAdvantage Loyalty IP Ltd                                  | CUSIP: 00253XAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |   2095000 | PA      | $2056158.49   | 0.47%             | 2026-04-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| STANDARD INDUSTRIES INC                   | Standard Industries Inc/NJ                                                       | CUSIP: 853496AG2<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |   1145000 | PA      | $980086.66    | 0.23%             | 2030-07-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| JAMES HARDIE INTL FIN                     | James Hardie International Finance DAC                                           | CUSIP: 47032FAB5<br>LEI: 635400G32A4Q1LVQ8M88 | Long             | DBT              | CORP              | IE        |   1900000 | PA      | $1806238.23   | 0.42%             | 2028-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PRESIDIO HOLDING INC                      | Presidio Holdings Inc                                                            | CUSIP: 74101XAF7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    585000 | PA      | $563308.20    | 0.13%             | 2028-02-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| LAMAR MEDIA CORP                          | Lamar Media Corp                                                                 | CUSIP: 513075BT7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2185000 | PA      | $1947490.50   | 0.45%             | 2030-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| EQM MIDSTREAM PARTNERS L                  | EQM Midstream Partners LP                                                        | CUSIP: 26885BAH3<br>LEI: 549300NELT611CL6XM83 | Long             | DBT              | CORP              | US        |   1825000 | PA      | $1794413.00   | 0.41%             | 2027-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| VITAL ENERGY INC                          | Vital Energy Inc                                                                 | CUSIP: 516806AH9<br>LEI: 549300X0PTWU2QSLSL14 | Long             | DBT              | CORP              | US        |   1785000 | PA      | $1648224.38   | 0.38%             | 2029-07-31      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| DARLING INGREDIENTS INC                   | Darling Ingredients Inc                                                          | CUSIP: 237266AH4<br>LEI: L1N0SPPKS7EXZYUMZ898 | Long             | DBT              | CORP              | US        |   3545000 | PA      | $3461444.35   | 0.80%             | 2027-04-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TEXTRON FINANCIAL CORP                    | Textron Financial Corp                                                           | CUSIP: 883199AR2<br>LEI: 4E8B2CNXPE5P5AY03O18 | Long             | DBT              | CORP              | US        |   3210000 | PA      | $2491762.50   | 0.57%             | 2042-02-15      | Floating      | 6.34%                 | No            |                  2 | On Loan: No      |
| AIR CANADA                                | Air Canada                                                                       | CUSIP: 008911BK4<br>LEI: 4B4HI3CGXMBDC0G6BM51 | Long             | DBT              | CORP              | CA        |    850000 | PA      | $787403.59    | 0.18%             | 2026-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| CABLE ONE INC                             | Cable One Inc                                                                    | CUSIP: 12685JAC9<br>LEI: 549300648QS85T0XSH18 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $991034.88    | 0.23%             | 2030-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                              | Barclays PLC                                                                     | CUSIP: 06738ECC7<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   2930000 | PA      | $3077181.64   | 0.71%             | 2026-11-02      | Fixed         | 7.33%                 | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP/US FIN                  | Clarios Global LP / Clarios US Finance Co                                        | CUSIP: 69867DAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |   1099000 | PA      | $1096150.18   | 0.25%             | 2027-05-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                     | Tenet Healthcare Corp                                                            | CUSIP: 88033GDP2<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    778000 | PA      | $756118.75    | 0.17%             | 2030-06-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                          | CSC Holdings LLC                                                                 | CUSIP: 126307BD8<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |   2230000 | PA      | $1321202.53   | 0.30%             | 2030-12-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| ASBURY AUTOMOTIVE GROUP                   | Asbury Automotive Group Inc                                                      | CUSIP: 043436AU8<br>LEI: 549300JH4DTA7U42GL91 | Long             | DBT              | CORP              | US        |   1430000 | PA      | $1294288.64   | 0.30%             | 2028-03-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| TARGA RESOURCES PARTNERS                  | Targa Resources Partners LP / Targa Resources Partners Finance Corp              | CUSIP: 87612BBG6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1953110.00   | 0.45%             | 2028-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| 1011778 BC / NEW RED FIN                  | 1011778 BC ULC / New Red Finance Inc                                             | CUSIP: 68245XAP4<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   1000000 | PA      | $876285.88    | 0.20%             | 2029-02-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                             | Citigroup Inc                                                                    | CUSIP: 172967HQ7<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   4475000 | PA      | $4419062.50   | 1.02%             | N/A             | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| FORTRESS TRANS & INFRAST                  | Fortress Transportation and Infrastructure Investors LLC                         | CUSIP: 34960PAD3<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |   2635000 | PA      | $2322485.71   | 0.54%             | 2028-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                    | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCS0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1605000 | PA      | $1550662.73   | 0.36%             | 2029-09-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Washington Mutual Mortgage Pas            | Washington Mutual Mortgage Pass-Through Certificates WMALT Series 2007-5 Trust   | CUSIP: 93936PAL2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     11041 | PA      | $14126.42     | 0.00%             | 2037-06-25      | Floating      | 12.44%                | No            |                  2 | On Loan: No      |
| OPEN TEXT CORP                            | Open Text Corp                                                                   | CUSIP: 683715AD8<br>LEI: 549300HP7ONDQODZJV16 | Long             | DBT              | CORP              | CA        |   1760000 | PA      | $1465956.98   | 0.34%             | 2029-12-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| CORNERSTONE BUILDING                      | Cornerstone Building Brands Inc                                                  | CUSIP: 21925DAA7<br>LEI: 549300IW41QEWQ6T0H29 | Long             | DBT              | CORP              | US        |    995000 | PA      | $746583.33    | 0.17%             | 2029-01-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| TOPBUILD CORP                             | TopBuild Corp                                                                    | CUSIP: 89055FAC7<br>LEI: 5493007YSKHOL4RWII46 | Long             | DBT              | CORP              | US        |   1390000 | PA      | $1180818.90   | 0.27%             | 2032-02-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| PENNYMAC FIN SVCS INC                     | PennyMac Financial Services Inc                                                  | CUSIP: 70932MAA5<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |   1225000 | PA      | $1141173.25   | 0.26%             | 2025-10-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| HOWMET AEROSPACE INC                      | Howmet Aerospace Inc                                                             | CUSIP: 443201AA6<br>LEI: 549300HO5WFZUT5N2T22 | Long             | DBT              | CORP              | US        |     81000 | PA      | $83528.82     | 0.02%             | 2025-05-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| PRA HEALTH SCIENCES INC                   | PRA Health Sciences Inc                                                          | CUSIP: 45569KAA1<br>LEI: 549300R1HR1VWWHIAK47 | Long             | DBT              | CORP              | US        |    885000 | PA      | $810956.48    | 0.19%             | 2026-07-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| ROCKETMTGE CO-ISSUER INC                  | Rocket Mortgage LLC / Rocket Mortgage Co-Issuer Inc                              | CUSIP: 74841CAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1240000 | PA      | $1047762.80   | 0.24%             | 2029-03-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| AMKOR TECHNOLOGY INC                      | Amkor Technology Inc                                                             | CUSIP: 031652BK5<br>LEI: 529900VHLRTKPWZJBM84 | Short            | DBT              | CORP              | US        |  -2930000 | PA      | $-2945704.80  | -0.68%            | 2027-09-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| SENSATA TECHNOLOGIES BV                   | Sensata Technologies BV                                                          | CUSIP: 81725WAK9<br>LEI: PUCKW5P5O3XMOZVH7T53 | Long             | DBT              | CORP              | NL        |    725000 | PA      | $651829.38    | 0.15%             | 2029-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COGENT COMMUNICATIONS GR                  | Cogent Communications Group Inc                                                  | CUSIP: 19240CAC7<br>LEI: 549300KFWFYF8Q1U0Y26 | Long             | DBT              | CORP              | US        |    655000 | PA      | $607230.85    | 0.14%             | 2026-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| WHITE CAP PARENT LLC                      | White Cap Parent LLC                                                             | CUSIP: 96351CAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    805000 | PA      | $735645.23    | 0.17%             | 2026-03-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| BRUNDAGE-BONE CONCRETE                    | Brundage-Bone Concrete Pumping Holdings Inc                                      | CUSIP: 66981QAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    645000 | PA      | $615713.78    | 0.14%             | 2026-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| DYCOM INDUSTRIES INC                      | Dycom Industries Inc                                                             | CUSIP: 267475AD3<br>LEI: 549300F56EKTHQI3WT60 | Long             | DBT              | CORP              | US        |   2540000 | PA      | $2277173.50   | 0.52%             | 2029-04-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                         | Barclays Bank PLC                                                                | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | Long             | DBT              | CORP              | GB        |   3000000 | PA      | $2611443.02   | 0.60%             | N/A             | Floating      | 2.76%                 | No            |                  2 | On Loan: No      |
| JBS USA/FOOD/FINANCE                      | JBS USA LUX SA / JBS USA Food Co / JBS USA Finance Inc                           | CUSIP: 46590XAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |   1000000 | PA      | $972905.00    | 0.22%             | 2030-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| STATION CASINOS LLC                       | Station Casinos LLC                                                              | CUSIP: 857691AH2<br>LEI: 5493004E7Q60TX54WL62 | Long             | DBT              | CORP              | US        |    325000 | PA      | $274310.08    | 0.06%             | 2031-12-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| FOUNDATION BUILDING M                     | Foundation Building Materials Inc                                                | CUSIP: 350392AA4<br>LEI: 549300ZVE6MONHB01I28 | Long             | DBT              | CORP              | US        |   1150000 | PA      | $926394.00    | 0.21%             | 2029-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CARNIVAL HLDGS BM LTD                     | Carnival Holdings Bermuda Ltd                                                    | CUSIP: 14366RAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3775000 | PA      | $4082568.13   | 0.94%             | 2028-05-01      | Fixed         | 10.38%                | No            |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS                  | Univision Communications Inc                                                     | CUSIP: 914906AV4<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |    880000 | PA      | $758357.60    | 0.17%             | 2029-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| NABORS INDUSTRIES INC                     | Nabors Industries Inc                                                            | CUSIP: 62957HAJ4<br>LEI: 549300VFQWRKICUFNU92 | Long             | DBT              | CORP              | US        |   1130000 | PA      | $1132971.90   | 0.26%             | 2027-05-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| SERVICE PROPERTIES TRUST                  | Service Properties Trust                                                         | CUSIP: 81761LAA0<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              | CORP              | US        |   1934000 | PA      | $1904110.03   | 0.44%             | 2025-09-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                            | Bombardier Inc                                                                   | CUSIP: 097751BT7<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |   4980000 | PA      | $4982379.29   | 1.15%             | 2027-04-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| CARRIAGE SERVICES INC                     | Carriage Services Inc                                                            | CUSIP: 143905AP2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2775000 | PA      | $2286933.00   | 0.53%             | 2029-05-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| SIMMONS FOOD INC/SIMMONS                  | Simmons Foods Inc/Simmons Prepared Foods Inc/Simmons Pet Food Inc/Simmons Feed   | CUSIP: 82873MAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1100000 | PA      | $934109.00    | 0.22%             | 2029-03-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Thunderbird Resources Equity I            | Thunderbird Resources Equity Inc                                                 | CUSIP: 38011M603<br>LEI: 84JNOWGT1R2BJT129V65 | Long             | EC               | CORP              | US        |         7 | NS      | $35289.79     | 0.01%             |  |  |  | No            |                  3 | On Loan: No      |
| IRON MOUNTAIN INC                         | Iron Mountain Inc                                                                | CUSIP: 46284VAN1<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |    825000 | PA      | $708031.50    | 0.16%             | 2031-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| US FOODS INC                              | US Foods Inc                                                                     | CUSIP: 90290MAE1<br>LEI: 5493000JOOFAOUY1JZ87 | Long             | DBT              | CORP              | US        |    670000 | PA      | $600619.07    | 0.14%             | 2030-06-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                    | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2380000 | PA      | $2204153.70   | 0.51%             | 2029-06-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                           | United States Treasury Note/Bond                                                 | CUSIP: 912828T26<br>LEI: 254900HROIFWPRGM1V77 | Short            | DBT              | UST               | US        | -30000000 | PA      | $-29336731.80 | -6.76%            | 2023-09-30      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| ENLINK MIDSTREAM LLC                      | EnLink Midstream LLC                                                             | CUSIP: 29336TAC4<br>LEI: 54930000GY1H533OBE23 | Long             | DBT              | CORP              | US        |   1900000 | PA      | $1859340.00   | 0.43%             | 2028-01-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| STORA ENSO OYJ                            | Stora Enso Oyj                                                                   | CUSIP: 86210MAC0<br>LEI: 7437000ZP669LKUTZ738 | Long             | DBT              | CORP              | FI        |   2200000 | PA      | $2358016.96   | 0.54%             | 2036-04-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| ILIAD HOLDING SAS                         | Iliad Holding SASU                                                               | CUSIP: 449691AA2<br>LEI: 9695009PXA7OI9NXN582 | Long             | DBT              | CORP              | FR        |   1350000 | PA      | $1280124.00   | 0.30%             | 2026-10-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-03-17

**Name of Applicant:** First Trust High Income Long/Short Fund

**Signature:** Donald P. Swade

**Name of Signer:** Donald P. Swade

**Title:** Treasurer, Chief Financial Officer and Chief Accounting Officer