# EDGAR Filing Document

**Accession Number:** 0000883622
**File Stem:** 0001752724-23-043074
**Filing Date:** 2023-2
**Character Count:** 107841
**Document Hash:** c985eb196dc76dcbae1166e24a913b69
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-043074.hdr.sgml**: 20230227

**ACCESSION NUMBER**: 0001752724-23-043074

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221230

**FILED AS OF DATE**: 20230227

**DATE AS OF CHANGE**: 20230227

**PERIOD START**: 20230930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** IVY FUNDS
- **CENTRAL INDEX KEY:** 0000883622
- **IRS NUMBER:** 481112076
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-06569
- **FILM NUMBER:** 23674009

**BUSINESS ADDRESS:**
- **STREET 1:** 6300 LAMAR AVE
- **CITY:** OVERLAND PARK
- **STATE:** KS
- **ZIP:** 66202
- **BUSINESS PHONE:** 9132362000

**MAIL ADDRESS:**
- **STREET 1:** P O BOX 29217
- **CITY:** SHAWNEE MISSION
- **STATE:** KS
- **ZIP:** 66201-9217

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** IVY FUNDS INC
- **DATE OF NAME CHANGE:** 20030630

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** W&R FUNDS INC
- **DATE OF NAME CHANGE:** 20000829

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** WADDELL & REED FUNDS INC
- **DATE OF NAME CHANGE:** 19920717

## Series and Classes Contracts Data

### Delaware Ivy High Yield Fund (Series ID: S000057669)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000184431 | Class A      | IPNAX           |
| C000184432 | Class I      | IPNIX           |
| C000184433 | Class R6     | IPNNX           |

## Nport-Ex

## Schedule of investments
Delaware Ivy High Yield Fund

December 31, 2022 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal<br> amount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Convertible Bond — 0.18%** | &nbsp;&nbsp;**Convertible Bond — 0.18%** | &nbsp;&nbsp;**Convertible Bond — 0.18%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Spirit Airlines 1.00% exercise price $49.07, maturity date 5/15/26 | 90000 | $72900 |
| &nbsp;&nbsp;&nbsp;**Total Convertible Bond<br> (cost $80,121)** | &nbsp;&nbsp;&nbsp;**Total Convertible Bond<br> (cost $80,121)** | &nbsp;&nbsp; **72900** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Corporate Bonds — 91.43%** | &nbsp;&nbsp;**Corporate Bonds — 91.43%** | &nbsp;&nbsp;**Corporate Bonds — 91.43%** |
| &nbsp;&nbsp;Automotive — 2.11% | &nbsp;&nbsp;Automotive — 2.11% | &nbsp;&nbsp;Automotive — 2.11% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ford Motor 4.75% 1/15/43 | 220000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;158410 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ford Motor Credit |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.375% 11/13/25 | 150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135867 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.125% 8/17/27 | 150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134594 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.542% 8/1/26 | 165000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;152316 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goodyear Tire & Rubber 5.25% 7/15/31 | 315000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;258061 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;839248 |
| &nbsp;&nbsp;Banking — 0.43% | &nbsp;&nbsp;Banking — 0.43% | &nbsp;&nbsp;Banking — 0.43% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deutsche Bank 6.00% 10/30/25 μ, ψ | 200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170614 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170614 |
| &nbsp;&nbsp;Basic Industry — 5.39% | &nbsp;&nbsp;Basic Industry — 5.39% | &nbsp;&nbsp;Basic Industry — 5.39% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ATI |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.875% 10/1/29 \* | 160000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141601 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.125% 10/1/31 | 312000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;276260 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cerdia Finanz 144A 10.50% 2/15/27 # | 165000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138442 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chemours 144A 5.75% 11/15/28 # | 310000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;278876 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FMG Resources August 2006 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.875% 4/15/30 # | 220000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205254 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.125% 4/15/32 #, \* | 95000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88734 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Novelis 144A 4.75% 1/30/30 # | 420000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;373304 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Standard Industries 144A 5.00% 2/15/27 # | 420000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;388172 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vibrantz Technologies 144A 9.00% 2/15/30 # | 330000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249467 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;2140110 |
| &nbsp;&nbsp;Capital Goods — 2.51% | &nbsp;&nbsp;Capital Goods — 2.51% | &nbsp;&nbsp;Capital Goods — 2.51% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bombardier 144A 6.00% 2/15/28 # | 126000 | 116669 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Clydesdale Acquisition Holdings 144A 6.625% 4/15/29 # | 50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47601 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;LABL 144A 5.875% 11/1/28 # | 395000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;344892 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sealed Air 144A 5.00% 4/15/29 # | 140000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131802 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TransDigm 4.625% 1/15/29 | 405000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;356815 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;997779 |
| &nbsp;&nbsp;Communications — 6.45% | &nbsp;&nbsp;Communications — 6.45% | &nbsp;&nbsp;Communications — 6.45% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Altice Financing 144A 5.00% 1/15/28 # | 505000 | 407611 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Altice France 144A 5.50% 10/15/29 # | 775000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;592344 |

---

---

| | | |
|:---|:---|:---|
|  | **Principalamount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** |
| &nbsp;&nbsp;Communications (continued) | &nbsp;&nbsp;Communications (continued) | &nbsp;&nbsp;Communications (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Connect Finco 144A 6.75% 10/1/26 # | 380000 | $352951 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consolidated Communications 144A 6.50% 10/1/28 # | 155000 | &nbsp;&nbsp; 120832 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Digicel International Finance 144A 8.75% 5/25/24 # | 235000 | &nbsp;&nbsp; 202471 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Frontier Communications Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.00% 5/1/28 # | 45000 | &nbsp;&nbsp; 39330 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.875% 10/15/27 # | 365000 | &nbsp;&nbsp; 339731 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.75% 5/1/29 # | 120000 | &nbsp;&nbsp; 99436 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 8.75% 5/15/30 # | 70000 | &nbsp;&nbsp; 71309 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Northwest Fiber 144A 4.75% 4/30/27 # | 165000 | &nbsp;&nbsp; 145384 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Telesat Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 4.875% 6/1/27 # | 236000 | &nbsp;&nbsp; 106364 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.50% 10/15/27 # | 280000 | &nbsp;&nbsp; 81433 |
|  |  | &nbsp;&nbsp; 2559196 |
| &nbsp;&nbsp;Consumer Goods — 0.99% | &nbsp;&nbsp;Consumer Goods — 0.99% | &nbsp;&nbsp;Consumer Goods — 0.99% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Clydesdale Acquisition Holdings 144A 8.75% 4/15/30 # | 135000 | &nbsp;&nbsp; 115809 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pilgrim's Pride 144A 4.25% 4/15/31 # | 315000 | &nbsp;&nbsp; 268380 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Scotts Miracle-Gro 4.00% 4/1/31 \* | 10000 | &nbsp;&nbsp; 7654 |
|  |  | &nbsp;&nbsp; 391843 |
| &nbsp;&nbsp;Energy — 14.29% | &nbsp;&nbsp;Energy — 14.29% | &nbsp;&nbsp;Energy — 14.29% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Apache 4.75% 4/15/43 \* | 286000 | &nbsp;&nbsp; 216295 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ascent Resources Utica Holdings 144A 5.875% 6/30/29 # | 104000 | &nbsp;&nbsp; 92865 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Callon Petroleum |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.50% 6/15/30 #, \* | 125000 | &nbsp;&nbsp; 114538 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 8.00% 8/1/28 # | 405000 | &nbsp;&nbsp; 386604 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CNX Midstream Partners 144A 4.75% 4/15/30 # | 25000 | &nbsp;&nbsp; 20549 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CNX Resources 144A 6.00% 1/15/29 # | 420000 | &nbsp;&nbsp; 387084 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Crestwood Midstream Partners 144A 6.00% 2/1/29 # | 30000 | &nbsp;&nbsp; 27569 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Endeavor Energy Resources 144A 5.75% 1/30/28 # | 232000 | &nbsp;&nbsp; 222523 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EQM Midstream Partners 144A 4.75% 1/15/31 # | 569000 | &nbsp;&nbsp; 466270 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Genesis Energy |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.75% 2/1/28 | 275000 | &nbsp;&nbsp; 253566 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.00% 1/15/27 | 429000 | &nbsp;&nbsp; 405757 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hilcorp Energy I |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.00% 4/15/30 # | 350000 | &nbsp;&nbsp; 311752 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.00% 2/1/31 # | 30000 | &nbsp;&nbsp; 25989 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.25% 4/15/32 # | 138000 | &nbsp;&nbsp; 119285 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Murphy Oil 6.375% 7/15/28 \* | 478000 | &nbsp;&nbsp; 460782 |

---

NQ-IV901 [12/22] 2/23 (2747689) 1

------

Delaware Ivy High Yield Fund (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principalamount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** |
| &nbsp;&nbsp;Energy (continued) | &nbsp;&nbsp;Energy (continued) | &nbsp;&nbsp;Energy (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NuStar Logistics |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00% 6/1/26 | 237000 | $228617 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.375% 10/1/30 | 279000 | &nbsp;&nbsp; 258477 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Occidental Petroleum |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.20% 3/15/48 | 15000 | &nbsp;&nbsp; 11545 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.40% 4/15/46 | 63000 | &nbsp;&nbsp; 49316 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.40% 8/15/49 | 125000 | &nbsp;&nbsp; 97773 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50% 7/15/44 | 65000 | &nbsp;&nbsp; 52072 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.45% 9/15/36 | 150000 | &nbsp;&nbsp; 153338 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.60% 3/15/46 | 120000 | &nbsp;&nbsp; 123749 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Southwestern Energy |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.375% 2/1/29 | 108000 | &nbsp;&nbsp; 100279 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.375% 3/15/30 | 269000 | &nbsp;&nbsp; 245851 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;USA Compression Partners |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.875% 4/1/26 | 346000 | &nbsp;&nbsp; 332470 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.875% 9/1/27 | 50000 | &nbsp;&nbsp; 46830 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Weatherford International |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.50% 9/15/28 # | 256000 | &nbsp;&nbsp; 251325 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 8.625% 4/30/30 # | 220000 | &nbsp;&nbsp; 211661 |
|  |  | &nbsp;&nbsp; 5674731 |
| &nbsp;&nbsp;Financial Services — 4.45% | &nbsp;&nbsp;Financial Services — 4.45% | &nbsp;&nbsp;Financial Services — 4.45% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AerCap Global Aviation Trust 144A 6.50% 6/15/45 #, μ | 570000 | &nbsp;&nbsp; 538320 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AerCap Holdings 5.875% 10/10/79 μ | 219000 | &nbsp;&nbsp; 199708 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Air Lease 4.65% 6/15/26 μ, ψ | 80000 | &nbsp;&nbsp; 67058 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Castlelake Aviation Finance DAC 144A 5.00% 4/15/27 #, \* | 297000 | &nbsp;&nbsp; 258817 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Credit Suisse Group 144A 9.75% 6/23/27 #, μ, ψ | 200000 | &nbsp;&nbsp; 174713 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Medline Borrower |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 2.403% 10/1/29 # | 118000 | &nbsp;&nbsp; 93935 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 3.875% 4/1/29 # | 323000 | &nbsp;&nbsp; 260902 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Midcap Financial Issuer Trust 144A 6.50% 5/1/28 # | 200000 | &nbsp;&nbsp; 172293 |
|  |  | &nbsp;&nbsp; 1765746 |
| &nbsp;&nbsp;Healthcare — 7.76% | &nbsp;&nbsp;Healthcare — 7.76% | &nbsp;&nbsp;Healthcare — 7.76% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Avantor Funding 144A 3.875% 11/1/29 #, \* | 566000 | &nbsp;&nbsp; 476020 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bausch Health 144A 6.125% 2/1/27 # | 335000 | &nbsp;&nbsp; 231445 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cheplapharm Arzneimittel 144A 5.50% 1/15/28 # | 240000 | &nbsp;&nbsp; 201067 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consensus Cloud Solutions |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.00% 10/15/26 # | 110000 | &nbsp;&nbsp; 103346 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.50% 10/15/28 # | 175000 | &nbsp;&nbsp; 161187 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DaVita 144A 4.625% 6/1/30 # | 405000 | &nbsp;&nbsp; 326649 |

---

---

| | | |
|:---|:---|:---|
|  | **Principalamount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** |
| &nbsp;&nbsp;Healthcare (continued) | &nbsp;&nbsp;Healthcare (continued) | &nbsp;&nbsp;Healthcare (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Encompass Health |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.625% 4/1/31 | 90000 | $77501 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75% 2/1/30 | 65000 | &nbsp;&nbsp; 57184 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;HCA 3.50% 9/1/30 | 270000 | &nbsp;&nbsp; 233503 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ModivCare Escrow Issuer 144A 5.00% 10/1/29 # | 300000 | &nbsp;&nbsp; 253380 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Organon & Co. 144A 5.125% 4/30/31 # | 450000 | &nbsp;&nbsp; 390436 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tenet Healthcare |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 4.375% 1/15/30 # | 365000 | &nbsp;&nbsp; 316572 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.125% 10/1/28 #, \* | 280000 | &nbsp;&nbsp; 251280 |
|  |  | &nbsp;&nbsp; 3079570 |
| &nbsp;&nbsp;Insurance — 2.81% | &nbsp;&nbsp;Insurance — 2.81% | &nbsp;&nbsp;Insurance — 2.81% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;HUB International 144A 5.625% 12/1/29 # | 380000 | &nbsp;&nbsp; 332379 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Jones Deslauriers Insurance Management 144A 10.50% 12/15/30 # | 420000 | &nbsp;&nbsp; 414185 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NFP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.875% 8/15/28 # | 320000 | &nbsp;&nbsp; 264473 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.50% 10/1/30 # | 110000 | &nbsp;&nbsp; 104123 |
|  |  | &nbsp;&nbsp; 1115160 |
| &nbsp;&nbsp;Leisure — 8.66% | &nbsp;&nbsp;Leisure — 8.66% | &nbsp;&nbsp;Leisure — 8.66% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Boyd Gaming 144A 4.75% 6/15/31 # | 510000 | &nbsp;&nbsp; 444302 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Caesars Entertainment 144A 6.25% 7/1/25 # | 430000 | &nbsp;&nbsp; 418693 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Carnival |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.75% 3/1/27 # | 717000 | &nbsp;&nbsp; 513207 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.00% 5/1/29 # | 121000 | &nbsp;&nbsp; 80859 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.625% 3/1/26 #, \* | 153000 | &nbsp;&nbsp; 121538 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hilton Grand Vacations Borrower Escrow 144A 5.00% 6/1/29 # | 600000 | &nbsp;&nbsp; 516765 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Royal Caribbean Cruises |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.375% 7/15/27 # | 613000 | &nbsp;&nbsp; 497113 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.50% 8/31/26 #, \* | 30000 | &nbsp;&nbsp; 25275 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.50% 4/1/28 # | 338000 | &nbsp;&nbsp; 270339 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Scientific Games Holdings 144A 6.625% 3/1/30 # | 340000 | &nbsp;&nbsp; 287640 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Scientific Games International 144A 7.25% 11/15/29 # | 275000 | &nbsp;&nbsp; 264495 |
|  |  | &nbsp;&nbsp; 3440226 |
| &nbsp;&nbsp;Media — 10.89% | &nbsp;&nbsp;Media — 10.89% | &nbsp;&nbsp;Media — 10.89% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AMC Networks 4.25% 2/15/29 \* | 270000 | &nbsp;&nbsp; 168633 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Arches Buyer 144A 6.125% 12/1/28 # | 315000 | &nbsp;&nbsp; 253211 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Belo 7.25% 9/15/27 | 217000 | &nbsp;&nbsp; 206523 |

---

2 NQ-IV901 [12/22] 2/23 (2747689)

------

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principalamount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** |
| &nbsp;&nbsp;Media (continued) | &nbsp;&nbsp;Media (continued) | &nbsp;&nbsp;Media (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CCO Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 4.50% 8/15/30 # | 680000 | $563319 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.375% 6/1/29 # | 235000 | &nbsp;&nbsp; 213033 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CMG Media 144A 8.875% 12/15/27 # | 300000 | &nbsp;&nbsp; 226284 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CSC Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 4.625% 12/1/30 # | 710000 | &nbsp;&nbsp; 393936 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.375% 2/1/28 # | 175000 | &nbsp;&nbsp; 141370 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cumulus Media New Holdings 144A 6.75% 7/1/26 # | 265000 | &nbsp;&nbsp; 223019 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Directv Financing 144A 5.875% 8/15/27 # | 395000 | &nbsp;&nbsp; 354141 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DISH DBS 144A 5.75% 12/1/28 # | 310000 | &nbsp;&nbsp; 248000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gray Television 144A 4.75% 10/15/30 # | 465000 | &nbsp;&nbsp; 337125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;LABL 144A 8.25% 11/1/29 # | 71000 | &nbsp;&nbsp; 56683 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nexstar Media 144A 4.75% 11/1/28 # | 255000 | &nbsp;&nbsp; 220960 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sirius XM Radio 144A 4.125% 7/1/30 # | 570000 | &nbsp;&nbsp; 471655 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;VZ Secured Financing 144A 5.00% 1/15/32 # | 305000 | &nbsp;&nbsp; 248402 |
|  |  | &nbsp;&nbsp; 4326294 |
| &nbsp;&nbsp;Real Estate — 4.60% | &nbsp;&nbsp;Real Estate — 4.60% | &nbsp;&nbsp;Real Estate — 4.60% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CTR Partnership 144A 3.875% 6/30/28 # | 223000 | &nbsp;&nbsp; 189358 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cushman & Wakefield US Borrower 144A 6.75% 5/15/28 # | 370000 | &nbsp;&nbsp; 353766 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;HAT Holdings I |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 3.375% 6/15/26 # | 185000 | &nbsp;&nbsp; 160985 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 6.00% 4/15/25 # | 353000 | &nbsp;&nbsp; 342410 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kennedy-Wilson 4.75% 2/1/30 | 235000 | &nbsp;&nbsp; 179493 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ladder Capital Finance Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 4.25% 2/1/27 # | 633000 | &nbsp;&nbsp; 532846 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 4.75% 6/15/29 # | 85000 | &nbsp;&nbsp; 68751 |
|  |  | &nbsp;&nbsp; 1827609 |
| &nbsp;&nbsp;Retail — 3.68% | &nbsp;&nbsp;Retail — 3.68% | &nbsp;&nbsp;Retail — 3.68% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asbury Automotive Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 4.625% 11/15/29 # | 245000 | &nbsp;&nbsp; 206736 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75% 3/1/30 | 215000 | &nbsp;&nbsp; 180105 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;LSF9 Atlantis Holdings 144A 7.75% 2/15/26 # | 374000 | &nbsp;&nbsp; 331480 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Murphy Oil USA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 3.75% 2/15/31 # | 75000 | &nbsp;&nbsp; 61861 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75% 9/15/29 | 400000 | &nbsp;&nbsp; 366722 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PetSmart 144A 7.75% 2/15/29 # | 335000 | &nbsp;&nbsp; 315258 |
|  |  | &nbsp;&nbsp; 1462162 |

---

---

| | | |
|:---|:---|:---|
|  | **Principalamount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** |
| &nbsp;&nbsp;Services — 4.98% | &nbsp;&nbsp;Services — 4.98% | &nbsp;&nbsp;Services — 4.98% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ahern Rentals 144A 7.375% 5/15/23 # | 145000 | $145000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CDW 3.569% 12/1/31 | 375000 | &nbsp;&nbsp; 309717 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Clarivate Science Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 3.875% 7/1/28 # | 95000 | &nbsp;&nbsp; 82420 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 4.875% 7/1/29 # | 279000 | &nbsp;&nbsp; 237610 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NESCO Holdings II 144A 5.50% 4/15/29 # | 300000 | &nbsp;&nbsp; 262890 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prime Security Services Borrower |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 3.375% 8/31/27 # | 270000 | &nbsp;&nbsp; 233485 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.75% 4/15/26 # | 185000 | &nbsp;&nbsp; 178469 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sotheby's 144A 5.875% 6/1/29 # | 195000 | &nbsp;&nbsp; 163995 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United Rentals North America 144A 6.00% 12/15/29 # | 170000 | &nbsp;&nbsp; 169265 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;White Cap Buyer 144A 6.875% 10/15/28 # | 223000 | &nbsp;&nbsp; 193262 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;White Cap Parent 144A PIK 8.25% 3/15/26 #, « | &nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp; 1731 |
|  |  | &nbsp;&nbsp; 1977844 |
| &nbsp;&nbsp;Technology & Electronics — 4.64% | &nbsp;&nbsp;Technology & Electronics — 4.64% | &nbsp;&nbsp;Technology & Electronics — 4.64% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AthenaHealth Group 144A 6.50% 2/15/30 # | 160000 | &nbsp;&nbsp; 118209 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CommScope Technologies 144A 6.00% 6/15/25 # | 138000 | &nbsp;&nbsp; 125864 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Entegris Escrow |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 4.75% 4/15/29 # | 125000 | &nbsp;&nbsp; 114244 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.95% 6/15/30 # | 365000 | &nbsp;&nbsp; 337078 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ION Trading Technologies 144A 5.75% 5/15/28 # | 275000 | &nbsp;&nbsp; 230436 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NCR 144A 5.125% 4/15/29 # | 454000 | &nbsp;&nbsp; 380501 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sensata Technologies 144A 4.00% 4/15/29 # | 160000 | &nbsp;&nbsp; 138216 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TTM Technologies 144A 4.00% 3/1/29 # | 463000 | &nbsp;&nbsp; 397713 |
|  |  | &nbsp;&nbsp; 1842261 |
| &nbsp;&nbsp;Transportation — 3.01% | &nbsp;&nbsp;Transportation — 3.01% | &nbsp;&nbsp;Transportation — 3.01% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Air Canada 144A 3.875% 8/15/26 # | 235000 | &nbsp;&nbsp; 208547 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Airlines 144A 5.75% 4/20/29 # | 162615 | &nbsp;&nbsp; 148916 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Grupo Aeromexico 144A 8.50% 3/17/27 # | 255000 | &nbsp;&nbsp; 225545 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Laredo Petroleum 144A 7.75% 7/31/29 # | 280000 | &nbsp;&nbsp; 252388 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Seaspan 144A 5.50% 8/1/29 # | 475000 | &nbsp;&nbsp; 360587 |
|  |  | &nbsp;&nbsp; 1195983 |

---

NQ-IV901 [12/22] 2/23 (2747689) 3

------

Delaware Ivy High Yield Fund (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principalamount<sup>°</sup>** | **Value (US $)** |
| &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** | &nbsp;&nbsp;**Corporate Bonds (continued)** |
| &nbsp;&nbsp;Utilities — 3.78% | &nbsp;&nbsp;Utilities — 3.78% | &nbsp;&nbsp;Utilities — 3.78% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Calpine |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 3.75% 3/1/31 # | 307000 | $247582 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 4.625% 2/1/29 # | 50000 | &nbsp;&nbsp; 42983 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 5.125% 3/15/28 #, \* | 275000 | &nbsp;&nbsp; 245940 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PG&E 5.25% 7/1/30 \* | 330000 | &nbsp;&nbsp; 300806 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vistra |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 7.00% 12/15/26 #, μ, ψ | 455000 | &nbsp;&nbsp; 414677 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144A 8.00% 10/15/26 #, \*, μ, ψ | 260000 | &nbsp;&nbsp; 248839 |
|  |  | &nbsp;&nbsp; 1500827 |
| &nbsp;&nbsp;&nbsp;**Total Corporate Bonds<br> (cost $40,794,914)** | &nbsp;&nbsp;&nbsp;**Total Corporate Bonds<br> (cost $40,794,914)** | &nbsp;&nbsp; **36307203** |
| &nbsp;&nbsp;**Municipal Bonds — 0.59%** | &nbsp;&nbsp;**Municipal Bonds — 0.59%** | &nbsp;&nbsp;**Municipal Bonds — 0.59%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commonwealth of Puerto Rico(Restructured) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A-1 2.986% 7/1/24^ | &nbsp;&nbsp;&nbsp;&nbsp;6469 | &nbsp;&nbsp; 5998 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A-1 4.00% 7/1/35 | 14120 | &nbsp;&nbsp; 11917 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GDB Debt Recovery Authority of Puerto Rico<br> 7.50% 8/20/40 | 259520 | &nbsp;&nbsp; 217348 |
| &nbsp;&nbsp;&nbsp;**Total Municipal Bonds<br> (cost $266,122)** | &nbsp;&nbsp;&nbsp;**Total Municipal Bonds<br> (cost $266,122)** | &nbsp;&nbsp; **235263** |

---

---

| | |
|:---|:---|
|  | **Number of<br> shares** |
| &nbsp;&nbsp;**Short-Term Investments — 5.42%** | &nbsp;&nbsp;**Short-Term Investments — 5.42%** |
| &nbsp;&nbsp;Money Market Mutual Funds — 5.42% | &nbsp;&nbsp;Money Market Mutual Funds — 5.42% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BlackRock Liquidity FedFund – Institutional Shares (seven-day effective yield 2.76%) | 538393 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity Investments Money Market Government Portfolio – Class I (seven-day effective yield 4.06%) | 538393 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goldman Sachs Financial Square Government Fund – Institutional Shares (seven-day effective yield 4.23%) | 538393 |

---

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | **Value (US $)** |
| &nbsp;&nbsp;**Short-Term Investments (continued)** | &nbsp;&nbsp;**Short-Term Investments (continued)** | &nbsp;&nbsp;**Short-Term Investments (continued)** |
| &nbsp;&nbsp;Money Market Mutual Funds (continued) | &nbsp;&nbsp;Money Market Mutual Funds (continued) | &nbsp;&nbsp;Money Market Mutual Funds (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley Institutional Liquidity Funds Government Portfolio – Institutional Class (seven-day effective yield 4.11%) | 538394 | $538394 |
| &nbsp;&nbsp;&nbsp;**Total Short-Term Investments<br> (cost $2,153,573)** | &nbsp;&nbsp;&nbsp;**Total Short-Term Investments<br> (cost $2,153,573)** | &nbsp;&nbsp; **2153573** |
| &nbsp;&nbsp;&nbsp;**Total Value of Securities Before<br> Securities Lending Collateral—97.62%<br> (cost $43,294,730)** | &nbsp;&nbsp;&nbsp;**Total Value of Securities Before<br> Securities Lending Collateral—97.62%<br> (cost $43,294,730)** | &nbsp;&nbsp; **38768939** |
| &nbsp;&nbsp;**Securities Lending Collateral — 0.36%** | &nbsp;&nbsp;**Securities Lending Collateral — 0.36%** | &nbsp;&nbsp;**Securities Lending Collateral — 0.36%** |
| &nbsp;&nbsp;Money Market Mutual Fund — 0.36% | &nbsp;&nbsp;Money Market Mutual Fund — 0.36% | &nbsp;&nbsp;Money Market Mutual Fund — 0.36% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dreyfus Institutional Preference Government Money Market Fund - Institutional Shares (seven-day effective yield 4.31%) | 142700 | &nbsp;&nbsp;&nbsp; 142700 |
| &nbsp;&nbsp;&nbsp;**Total Securities Lending Collateral<br> (cost $142,700)** | &nbsp;&nbsp;&nbsp;**Total Securities Lending Collateral<br> (cost $142,700)** | &nbsp;&nbsp; **142700** |
| &nbsp;&nbsp;&nbsp;**Total Value of Securities—97.98%<br> (cost $43,437,430)** |  | &nbsp;&nbsp;**38,911,639■** |
| &nbsp;&nbsp;&nbsp;**Obligation to Return<br> Securities Lending<br> Collateral — (0.36%)** |  | &nbsp;&nbsp;&nbsp; **(142700)** |
| &nbsp;&nbsp;&nbsp;**Receivables and Other Assets Net of Liabilities — 2.37%** |  | &nbsp;&nbsp;&nbsp; **943086** |
| &nbsp;&nbsp;&nbsp;**Net Assets Applicable to 4,859,360 Shares Outstanding—100.00%** |  | &nbsp;&nbsp; **$39712025** |

---

---

| | |
|:---|:---|
| <sup>°</sup> | Principal amount shown is stated in USD unless noted that the security is denominated in another currency. |
| <sup>μ</sup> | Fixed to variable rate investment. The rate shown reflects the fixed rate in effect at December 31, 2022. Rate will reset at a future date. |
| <sup>ψ</sup> | Perpetual security. Maturity date represents next call date. |
| <sup>\*</sup> | Fully or partially on loan. |
| <sup>#</sup> | Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. At December 31, 2022, the aggregate value of Rule 144A securities was $29,131,341, which represents 73.36% of the Fund's net assets. |
| <sup>«</sup> | PIK. The first payment of cash and/or principal will be made after December 31, 2022. |
| <sup>^</sup> | Zero-coupon security. The rate shown is the effective yield at the time of purchase. |
| ■ | Includes $2,732,687 of securities loaned for which the counterparty pledged additional non-cash collateral valued at $2,593,750. |

---

4 NQ-IV901 [12/22] 2/23 (2747689)

------

(Unaudited)

---

| |
|:---|
| **Summary of abbreviations:** |
| DAC – Designated Activity Company |
| PIK – Payment-in-kind |

---

---

| |
|:---|
| **Summary of abbreviations: (continued)** |
| USD – US Dollar |

---

NQ-IV901 [12/22] 2/23 (2747689) 5

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** IVY FUNDS

- **b. Investment Company Act file number:** 811-06569

- **c. CIK number of Registrant:** 0000883622

- **d. LEI of Registrant:** UJ5MWG3K37CY01MVRY13

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

  - **Street Address 1:** 100 Independence

  - **City:** Philadelphia

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 19106

  - **Telephone number:** 215-255-1200

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

- **a. Name of Series:** Delaware Ivy High Yield Fund

- **b. EDGAR series identifier (if any):** S000057669

- **c. LEI of Series:** 549300J6CLR4WZWTTK14

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

- **a. Date of fiscal year-end:** 2023-09-30

- **b. Date as of which information is reported:** 2022-12-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $40018906.17

**Total Liabilities:** $291488.56

**Net Assets:** $39727417.61

**Cash Not Reported:** $14079.00

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0.00000000 | **1-Year:** 158.12509000 | **5-Year:** 683.37417000 | **10-Year:** 605.93806000 | **30-Year:** 22.83820000

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

- **3-Month:** 3.89760000 | **1-Year:** 1865.43415000 | **5-Year:** 12457.54813000 | **10-Year:** 1683.75656000 | **30-Year:** 77.02903000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000184431 | 3.36%                | 1.93%                | -0.83%               |
| Class ID C000184433 | 3.48%                | 1.94%                | -0.77%               |
| Class ID C000184432 | 3.37%                | 1.96%                | -0.79%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-558121.73              | $1776684.25                                |
| Month 2  | $-1262314.39             | $1867240.38                                |
| Month 3  | $-446639.03              | $-81720.93                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| CASTLELAKE AVIATION FIN                        | Castlelake Aviation Finance DAC                                                  | CUSIP: 14856HAA6<br>LEI: 2138006F7SMD1COVC345 | Long             | DBT              | CORP              | IE        |    297000 | PA      | $258817.32    | 0.65%             | 2027-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: —       |
| ROYAL CARIBBEAN CRUISES                        | Royal Caribbean Cruises Ltd                                                      | CUSIP: 780153BK7<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |    613000 | PA      | $497112.96    | 1.25%             | 2027-07-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| MODIVCARE ESCROW ISSUER                        | ModivCare Escrow Issuer Inc                                                      | CUSIP: 60783XAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $253380.00    | 0.64%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KENNEDY-WILSON INC                             | Kennedy-Wilson Inc                                                               | CUSIP: 489399AN5<br>LEI: 5EA4464UK7FM5QNNKL62 | Long             | DBT              | CORP              | US        |    235000 | PA      | $179493.00    | 0.45%             | 2030-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| SCOTTS MIRACLE-GRO CO                          | Scotts Miracle-Gro Co/The                                                        | CUSIP: 810186AX4<br>LEI: 2TH9E0JTOUXOEGI2R879 | Long             | DBT              | CORP              | US        |     10000 | PA      | $7654.11      | 0.02%             | 2031-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: —       |
| ENDEAVOR ENERGY RESOURCE                       | Endeavor Energy Resources LP / EER Finance Inc                                   | CUSIP: 29260FAE0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    232000 | PA      | $222522.80    | 0.56%             | 2028-01-30      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| NESCO HOLDINGS II INC                          | NESCO Holdings II Inc                                                            | CUSIP: 64083YAA9<br>LEI: 254900FAHT0HW9T6L409 | Long             | DBT              | CORP              | US        |    300000 | PA      | $262890.00    | 0.66%             | 2029-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ATHENAHEALTH GROUP INC                         | AthenaHealth Group Inc                                                           | CUSIP: 60337JAA4<br>LEI: 254900AA3KZN4Q7A5Z33 | Long             | DBT              | CORP              | US        |    160000 | PA      | $118209.15    | 0.30%             | 2030-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                       | Occidental Petroleum Corp                                                        | CUSIP: 674599DL6<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    120000 | PA      | $123749.40    | 0.31%             | 2046-03-15      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| GENESIS ENERGY LP/FIN                          | Genesis Energy LP / Genesis Energy Finance Corp                                  | CUSIP: 37185LAM4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    429000 | PA      | $405756.78    | 1.02%             | 2027-01-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                        | Royal Caribbean Cruises Ltd                                                      | CUSIP: 780153BG6<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |    338000 | PA      | $270339.16    | 0.68%             | 2028-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AG                               | Deutsche Bank AG                                                                 | CUSIP: 251525AX9<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    200000 | PA      | $170614.32    | 0.43%             | N/A             | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NOVELIS CORP                                   | Novelis Corp                                                                     | CUSIP: 670001AE6<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |    420000 | PA      | $373304.40    | 0.94%             | 2030-01-30      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| UNITED RENTALS NORTH AM                        | United Rentals North America Inc                                                 | CUSIP: 911365BQ6<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |    170000 | PA      | $169264.75    | 0.43%             | 2029-12-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CNX MIDSTREAM PART LP                          | CNX Midstream Partners LP                                                        | CUSIP: 12654AAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     25000 | PA      | $20549.13     | 0.05%             | 2030-04-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| SOUTHWESTERN ENERGY CO                         | Southwestern Energy Co                                                           | CUSIP: 845467AS8<br>LEI: EFWMP121W54QV9MGOP87 | Long             | DBT              | CORP              | US        |    269000 | PA      | $245850.94    | 0.62%             | 2030-03-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| LSF9 ATL HLDG/VICTRA FIN                       | LSF9 Atlantis Holdings LLC / Victra Finance Corp                                 | CUSIP: 50220MAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    374000 | PA      | $331479.94    | 0.83%             | 2026-02-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| CRESTWOOD MID PARTNER LP                       | Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp               | CUSIP: 226373AR9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     30000 | PA      | $27568.67     | 0.07%             | 2029-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ASBURY AUTOMOTIVE GROUP                        | Asbury Automotive Group Inc                                                      | CUSIP: 043436AV6<br>LEI: 549300JH4DTA7U42GL91 | Long             | DBT              | CORP              | US        |    215000 | PA      | $180104.77    | 0.45%             | 2030-03-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CLYDESDALE ACQUISITION                         | Clydesdale Acquisition Holdings Inc                                              | CUSIP: 18972EAB1<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |    135000 | PA      | $115809.28    | 0.29%             | 2030-04-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| AVANTOR FUNDING INC                            | Avantor Funding Inc                                                              | CUSIP: 05352TAB5<br>LEI: 5493003VM0XB4U8YD238 | Long             | DBT              | CORP              | US        |    566000 | PA      | $476020.15    | 1.20%             | 2029-11-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: —       |
| FMG RESOURCES AUG 2006                         | FMG Resources August 2006 Pty Ltd                                                | CUSIP: 30251GBE6<br>LEI: 549300EFD6S2NFE9D745 | Long             | DBT              | CORP              | AU        |     95000 | PA      | $88734.28     | 0.22%             | 2032-04-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: —       |
| PETSMART INC/PETSMART FI                       | PetSmart Inc / PetSmart Finance Corp                                             | CUSIP: 71677KAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    335000 | PA      | $315257.61    | 0.79%             | 2029-02-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| CALLON PETROLEUM CO                            | Callon Petroleum Co                                                              | CUSIP: 13123XBF8<br>LEI: 549300EFOWPEB0WLZW21 | Long             | DBT              | CORP              | US        |    125000 | PA      | $114537.50    | 0.29%             | 2030-06-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: —       |
| LABL INC                                       | LABL Inc                                                                         | CUSIP: 50168QAC9<br>LEI: 5493004FUZN8R6Y3VB98 | Long             | DBT              | CORP              | US        |    395000 | PA      | $344892.28    | 0.87%             | 2028-11-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CUSHMAN & WAKEFIELD US                         | Cushman & Wakefield US Borrower LLC                                              | CUSIP: 23166MAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    370000 | PA      | $353766.25    | 0.89%             | 2028-05-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                        | Frontier Communications Holdings LLC                                             | CUSIP: 35906ABG2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    120000 | PA      | $99435.60     | 0.25%             | 2029-05-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CONSENSUS CLOUD SOLUTION                       | Consensus Cloud Solutions Inc                                                    | CUSIP: 20848VAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    110000 | PA      | $103345.63    | 0.26%             | 2026-10-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BELO CORP                                      | Belo Corp                                                                        | CUSIP: 080555AF2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    217000 | PA      | $206523.24    | 0.52%             | 2027-09-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| CNX RESOURCES CORP                             | CNX Resources Corp                                                               | CUSIP: 12653CAJ7<br>LEI: 549300JK3KH8PWM3B226 | Long             | DBT              | CORP              | US        |    420000 | PA      | $387084.22    | 0.97%             | 2029-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CONSOLIDATED COMMUNICATI                       | Consolidated Communications Inc                                                  | CUSIP: 20903XAF0<br>LEI: 549300WW675Y48HDVX34 | Long             | DBT              | CORP              | US        |    155000 | PA      | $120831.91    | 0.30%             | 2028-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CLYDESDALE ACQUISITION                         | Clydesdale Acquisition Holdings Inc                                              | CUSIP: 18972EAA3<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |     50000 | PA      | $47601.28     | 0.12%             | 2029-04-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                       | Occidental Petroleum Corp                                                        | CUSIP: 674599DF9<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    150000 | PA      | $153338.25    | 0.39%             | 2036-09-15      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| DISH DBS CORP                                  | DISH DBS Corp                                                                    | CUSIP: 25470XBF1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    310000 | PA      | $248000.00    | 0.62%             | 2028-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                       | Ford Motor Credit Co LLC                                                         | CUSIP: 345397B28<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    150000 | PA      | $135867.42    | 0.34%             | 2025-11-13      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| ALTICE FINANCING SA                            | Altice Financing SA                                                              | CUSIP: 02154CAF0<br>LEI: 549300DIYGW8HVDF7Q17 | Long             | DBT              | CORP              | LU        |    505000 | PA      | $407610.75    | 1.03%             | 2028-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ENTEGRIS ESCROW CORP                           | Entegris Escrow Corp                                                             | CUSIP: 29365BAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    125000 | PA      | $114244.04    | 0.29%             | 2029-04-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| GRAY TELEVISION INC                            | Gray Television Inc                                                              | CUSIP: 389375AL0<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |    465000 | PA      | $337125.00    | 0.85%             | 2030-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CTR PARTNERSHIP/CARETRST                       | CTR Partnership LP / CareTrust Capital Corp                                      | CUSIP: 126458AE8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    223000 | PA      | $189357.46    | 0.48%             | 2028-06-30      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| WHITE CAP PARENT LLC                           | White Cap Parent LLC                                                             | CUSIP: 96351CAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      2000 | PA      | $1731.48      | 0.00%             | 2026-03-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| AIR LEASE CORP                                 | Air Lease Corp                                                                   | CUSIP: 00912XBJ2<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |     80000 | PA      | $67057.59     | 0.17%             | N/A             | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| VZ SECURED FINANCING BV                        | VZ Secured Financing BV                                                          | CUSIP: 91845AAA3<br>LEI: 549300MG611MYCOWY949 | Long             | DBT              | CORP              | NL        |    305000 | PA      | $248401.58    | 0.63%             | 2032-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CERDIA FINANZ GMBH                             | Cerdia Finanz GmbH                                                               | CUSIP: 15679GAA0<br>LEI: 391200KURNDJSX9GX570 | Long             | DBT              | CORP              | DE        |    165000 | PA      | $138441.50    | 0.35%             | 2027-02-15      | Fixed         | 10.50%                | 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        |    104000 | PA      | $92864.72     | 0.23%             | 2029-06-30      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ION TRADING TECHNOLOGIES                       | ION Trading Technologies Sarl                                                    | CUSIP: 46205YAA9<br>LEI: 5493009ZVXOKZLQ6QJ12 | Long             | DBT              | CORP              | LU        |    275000 | PA      | $230436.25    | 0.58%             | 2028-05-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| SPIRIT AIRLINES INC                            | Spirit Airlines Inc                                                              | CUSIP: 848577AB8<br>LEI: 549300DCAFIXFNFR3304 | Long             | DBT              | CORP              | US        |     90000 | PA      | $72900.00     | 0.18%             | 2026-05-15      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                  | TransDigm Inc                                                                    | CUSIP: 893647BP1<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    405000 | PA      | $356815.13    | 0.90%             | 2029-01-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| WEATHERFORD INTERNATIONA                       | Weatherford International Ltd                                                    | CUSIP: 947075AU1<br>LEI: 549300A2JKMG5PGOGF82 | Long             | DBT              | CORP              | BM        |    220000 | PA      | $211660.50    | 0.53%             | 2030-04-30      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                                 | Bombardier Inc                                                                   | CUSIP: 097751BX8<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |    126000 | PA      | $116668.44    | 0.29%             | 2028-02-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| STANDARD INDUSTRIES INC                        | Standard Industries Inc/NJ                                                       | CUSIP: 853496AC1<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |    420000 | PA      | $388171.60    | 0.98%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIDCAP FINANCIAL ISSR TR                       | Midcap Financial Issuer Trust                                                    | CUSIP: 59567LAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $172293.00    | 0.43%             | 2028-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| PILGRIM'S PRIDE CORP                           | Pilgrim's Pride Corp                                                             | CUSIP: 72147KAF5<br>LEI: 549300ZSLGV64ZL3HD75 | Long             | DBT              | CORP              | US        |    315000 | PA      | $268380.00    | 0.68%             | 2031-04-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| BELO CORP                                      | Belo Corp                                                                        | CUSIP: 080555AE5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    318000 | PA      | $311004.00    | 0.78%             | 2027-06-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| TTM TECHNOLOGIES INC                           | TTM Technologies Inc                                                             | CUSIP: 87305RAK5<br>LEI: 549300SC4BDOIS008048 | Long             | DBT              | CORP              | US        |    463000 | PA      | $397712.37    | 1.00%             | 2029-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| AHERN RENTALS INC                              | Ahern Rentals Inc                                                                | CUSIP: 008674AH6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    145000 | PA      | $145000.00    | 0.36%             | 2023-05-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| CLARIV SCI HLD CORP                            | Clarivate Science Holdings Corp                                                  | CUSIP: 18064PAC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     95000 | PA      | $82419.72     | 0.21%             | 2028-07-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                  | Carnival Corp                                                                    | CUSIP: 143658BL5<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    153000 | PA      | $121537.80    | 0.31%             | 2026-03-01      | Fixed         | 7.62%                 | No            |                  2 | On Loan: —       |
| CLARIV SCI HLD CORP                            | Clarivate Science Holdings Corp                                                  | CUSIP: 18064PAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    279000 | PA      | $237610.35    | 0.60%             | 2029-07-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| HAT HOLDINGS I LLC/HAT                         | HAT Holdings I LLC / HAT Holdings II LLC                                         | CUSIP: 418751AB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    353000 | PA      | $342410.00    | 0.86%             | 2025-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NORTHWEST FIBER LLC/NORT                       | Northwest Fiber LLC / Northwest Fiber Finance Sub Inc                            | CUSIP: 667449AD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    165000 | PA      | $145383.60    | 0.37%             | 2027-04-30      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                       | Hilcorp Energy I LP / Hilcorp Finance Co                                         | CUSIP: 431318AY0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    350000 | PA      | $311752.35    | 0.78%             | 2030-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ENTEGRIS ESCROW CORP                           | Entegris Escrow Corp                                                             | CUSIP: 29365BAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    365000 | PA      | $337077.50    | 0.85%             | 2030-06-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| CALPINE CORP                                   | Calpine Corp                                                                     | CUSIP: 131347CP9<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |     50000 | PA      | $42982.95     | 0.11%             | 2029-02-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR COMPANY                             | Ford Motor Co                                                                    | CUSIP: 345370CQ1<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |    220000 | PA      | $158410.54    | 0.40%             | 2043-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE SA                               | Altice France SA/France                                                          | CUSIP: 02156LAH4<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |    775000 | PA      | $592344.13    | 1.49%             | 2029-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SEASPAN CORP                                   | Seaspan Corp                                                                     | CUSIP: 81254UAK2<br>LEI: 5493007Z8Q1H45KT7W98 | Long             | DBT              | CORP              | MH        |    475000 | PA      | $360586.75    | 0.91%             | 2029-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PRIME SECSRVC BRW/FINANC                       | Prime Security Services Borrower LLC / Prime Finance Inc                         | CUSIP: 74166MAC0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    185000 | PA      | $178469.50    | 0.45%             | 2026-04-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| GENESIS ENERGY LP/FIN                          | Genesis Energy LP / Genesis Energy Finance Corp                                  | CUSIP: 37185LAL6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    275000 | PA      | $253566.50    | 0.64%             | 2028-02-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| HILTON GRAND VAC BOR ESC                       | Hilton Grand Vacations Borrower Escrow LLC / Hilton Grand Vacations Borrower Esc | CUSIP: 43284MAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    600000 | PA      | $516765.00    | 1.30%             | 2029-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                       | Occidental Petroleum Corp                                                        | CUSIP: 674599DK8<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |     65000 | PA      | $52071.96     | 0.13%             | 2044-07-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ORGANON & CO/ORG                               | Organon & Co / Organon Foreign Debt Co-Issuer BV                                 | CUSIP: 68622TAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    450000 | PA      | $390435.89    | 0.98%             | 2031-04-30      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| SENSATA TECHNOLOGIES BV                        | Sensata Technologies BV                                                          | CUSIP: 81725WAK9<br>LEI: PUCKW5P5O3XMOZVH7T53 | Long             | DBT              | CORP              | NL        |    160000 | PA      | $138216.00    | 0.35%             | 2029-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                        | Frontier Communications Holdings LLC                                             | CUSIP: 35906ABE7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    365000 | PA      | $339731.05    | 0.86%             | 2027-10-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| NCR CORP                                       | NCR Corp                                                                         | CUSIP: 62886EBA5<br>LEI: 549300YKTY8JX1DV2R67 | Long             | DBT              | CORP              | US        |    454000 | PA      | $380501.12    | 0.96%             | 2029-04-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| TELESAT CANADA/TELESAT L                       | Telesat Canada / Telesat LLC                                                     | CUSIP: 87952VAP1<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    236000 | PA      | $106364.02    | 0.27%             | 2027-06-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| WHITE CAP BUYER LLC                            | White Cap Buyer LLC                                                              | CUSIP: 96350RAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    223000 | PA      | $193261.57    | 0.49%             | 2028-10-15      | Fixed         | 6.88%                 | 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        |    270000 | PA      | $233485.09    | 0.59%             | 2027-08-31      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| NFP CORP                                       | NFP Corp                                                                         | CUSIP: 65342RAD2<br>LEI: VO2L9FZNXDJNQNEYH039 | Long             | DBT              | CORP              | US        |    320000 | PA      | $264473.28    | 0.67%             | 2028-08-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                  | Carnival Corp                                                                    | CUSIP: 143658BR2<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    121000 | PA      | $80859.10     | 0.20%             | 2029-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                        | Frontier Communications Holdings LLC                                             | CUSIP: 35906ABF4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     45000 | PA      | $39330.45     | 0.10%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOTHEBY'S/BIDFAIR HLD                          | Sotheby's/Bidfair Holdings Inc                                                   | CUSIP: 83600GAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    195000 | PA      | $163995.04    | 0.41%             | 2029-06-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Fidelity Government Portfolio                  | Fidelity Government Portfolio                                                    | CUSIP: 316175108<br>LEI: N/A                  | Long             | STIV             | RF                | US        |    538393 | NS      | $538393.33    | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| GOODYEAR TIRE & RUBBER                         | Goodyear Tire & Rubber Co/The                                                    | CUSIP: 382550BR1<br>LEI: 5493002BI0S2ZQUY3437 | Long             | DBT              | CORP              | US        |    315000 | PA      | $258060.60    | 0.65%             | 2031-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BOYD GAMING CORP                               | Boyd Gaming Corp                                                                 | CUSIP: 103304BV2<br>LEI: 254900787YGRYS2A1Z35 | Long             | DBT              | CORP              | US        |    510000 | PA      | $444301.80    | 1.12%             | 2031-06-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| TELESAT CANADA/TELESAT L                       | Telesat Canada / Telesat LLC                                                     | CUSIP: 87952VAM8<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    280000 | PA      | $81432.76     | 0.20%             | 2027-10-15      | Fixed         | 6.50%                 | 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        |    340000 | PA      | $287640.00    | 0.72%             | 2030-03-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| LADDER CAP FIN LLLP/CORP                       | Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp               | CUSIP: 505742AP1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     85000 | PA      | $68750.55     | 0.17%             | 2029-06-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CAESARS ENTERTAIN INC                          | Caesars Entertainment Inc                                                        | CUSIP: 28470RAH5<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |    430000 | PA      | $418693.37    | 1.05%             | 2025-07-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| VISTRA CORP                                    | Vistra Corp                                                                      | CUSIP: 92840MAC6<br>LEI: 549300KP43CPCUJOOG15 | Long             | DBT              | CORP              | US        |    455000 | PA      | $414677.08    | 1.04%             | N/A             | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| FMG RESOURCES AUG 2006                         | FMG Resources August 2006 Pty Ltd                                                | CUSIP: 30251GBD8<br>LEI: 549300EFD6S2NFE9D745 | Long             | DBT              | CORP              | AU        |    220000 | PA      | $205253.95    | 0.52%             | 2030-04-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| AMC NETWORKS INC                               | AMC Networks Inc                                                                 | CUSIP: 00164VAF0<br>LEI: 549300VGG9K75226LR46 | Long             | DBT              | CORP              | US        |    270000 | PA      | $168633.23    | 0.42%             | 2029-02-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: —       |
| CDW LLC/CDW FINANCE                            | CDW LLC / CDW Finance Corp                                                       | CUSIP: 12513GBJ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    375000 | PA      | $309716.70    | 0.78%             | 2031-12-01      | Fixed         | 3.57%                 | No            |                  2 | On Loan: No      |
| HUB INTERNATIONAL LTD                          | HUB International Ltd                                                            | CUSIP: 44332PAG6<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |    380000 | PA      | $332379.31    | 0.84%             | 2029-12-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| VISTRA CORP                                    | Vistra Corp                                                                      | CUSIP: 92840MAB8<br>LEI: 549300KP43CPCUJOOG15 | Long             | DBT              | CORP              | US        |    260000 | PA      | $248838.67    | 0.63%             | N/A             | Fixed         | 8.00%                 | No            |                  2 | On Loan: —       |
| JONES DESLAURIERS INSURA                       | Jones Deslauriers Insurance Management Inc                                       | CUSIP: 48020RAA3<br>LEI: 549300JQIWNFU00E5424 | Long             | DBT              | CORP              | CA        |    420000 | PA      | $414184.72    | 1.04%             | 2030-12-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                         | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCE1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    680000 | PA      | $563318.80    | 1.42%             | 2030-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| AIR CANADA                                     | Air Canada                                                                       | CUSIP: 008911BK4<br>LEI: 4B4HI3CGXMBDC0G6BM51 | Long             | DBT              | CORP              | CA        |    235000 | PA      | $208546.68    | 0.52%             | 2026-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| CONNECT FINCO SARL/CONNE                       | Connect Finco SARL / Connect US Finco LLC                                        | CUSIP: 20752TAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |    380000 | PA      | $352951.41    | 0.89%             | 2026-10-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CHEPLAPHARM ARZNEIMITTEL                       | Cheplapharm Arzneimittel GmbH                                                    | CUSIP: 16412EAA5<br>LEI: 529900ONXKBELT7EW052 | Long             | DBT              | CORP              | DE        |    240000 | PA      | $201067.20    | 0.51%             | 2028-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ENCOMPASS HEALTH CORP                          | Encompass Health Corp                                                            | CUSIP: 29261AAB6<br>LEI: 549300FVRPM9DRQZRG64 | Long             | DBT              | CORP              | US        |     65000 | PA      | $57183.56     | 0.14%             | 2030-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ATI INC                                        | ATI Inc                                                                          | CUSIP: 01741RAL6<br>LEI: ZW1LRE7C3H17O2ZN9B45 | Long             | DBT              | CORP              | US        |    160000 | PA      | $141600.80    | 0.36%             | 2029-10-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: —       |
| CUMULUS MEDIA NEW HLDGS                        | Cumulus Media New Holdings Inc                                                   | CUSIP: 23110AAA4<br>LEI: 5493001D9VBAVY1OKJ46 | Long             | DBT              | CORP              | US        |    265000 | PA      | $223018.70    | 0.56%             | 2026-07-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| LADDER CAP FIN LLLP/CORP                       | Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp               | CUSIP: 505742AM8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    633000 | PA      | $532846.23    | 1.34%             | 2027-02-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| PG&E CORP                                      | PG&E Corp                                                                        | CUSIP: 69331CAJ7<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | DBT              | CORP              | US        |    330000 | PA      | $300806.55    | 0.76%             | 2030-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: —       |
| LAREDO PETROLEUM INC                           | Laredo Petroleum Inc                                                             | CUSIP: 516806AH9<br>LEI: 549300X0PTWU2QSLSL14 | Long             | DBT              | CORP              | US        |    280000 | PA      | $252387.49    | 0.64%             | 2029-07-31      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| LABL INC                                       | LABL Inc                                                                         | CUSIP: 50168QAD7<br>LEI: 5493004FUZN8R6Y3VB98 | Long             | DBT              | CORP              | US        |     71000 | PA      | $56682.67     | 0.14%             | 2029-11-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| WEATHERFORD INTERNATIONA                       | Weatherford International Ltd                                                    | CUSIP: 947075AT4<br>LEI: 549300A2JKMG5PGOGF82 | Long             | DBT              | CORP              | BM        |    256000 | PA      | $251325.44    | 0.63%             | 2028-09-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| SOUTHWESTERN ENERGY CO                         | Southwestern Energy Co                                                           | CUSIP: 845467AR0<br>LEI: EFWMP121W54QV9MGOP87 | Long             | DBT              | CORP              | US        |    108000 | PA      | $100278.54    | 0.25%             | 2029-02-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| CALLON PETROLEUM                               | Callon Petroleum Co                                                              | CUSIP: 13123XBD3<br>LEI: 549300EFOWPEB0WLZW21 | Long             | DBT              | CORP              | US        |    405000 | PA      | $386604.41    | 0.97%             | 2028-08-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| CHEMOURS CO                                    | Chemours Co/The                                                                  | CUSIP: 163851AF5<br>LEI: 549300M1BOLNXL8DOV14 | Long             | DBT              | CORP              | US        |    310000 | PA      | $278876.00    | 0.70%             | 2028-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| HAT HOLDINGS I LLC/HAT                         | HAT Holdings I LLC / HAT Holdings II LLC                                         | CUSIP: 418751AE3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    185000 | PA      | $160985.15    | 0.41%             | 2026-06-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| GDB DEBT RECOVERY AUTH OF CMWL                 | GDB Debt Recovery Authority of Puerto Rico                                       | CUSIP: 36829QAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    259520 | PA      | $217348.34    | 0.55%             | 2040-08-20      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                               | CSC Holdings LLC                                                                 | CUSIP: 126307AS6<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    175000 | PA      | $141370.25    | 0.36%             | 2028-02-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| NEXSTAR MEDIA INC                              | Nexstar Media Inc                                                                | CUSIP: 65336YAN3<br>LEI: 5493006PK6I4I2OOT688 | Long             | DBT              | CORP              | US        |    255000 | PA      | $220960.05    | 0.56%             | 2028-11-01      | Fixed         | 4.75%                 | 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        |    235000 | PA      | $213033.38    | 0.54%             | 2029-06-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Financial Square Government Fund | Goldman Sachs Financial Square Government Fund                                   | CUSIP: 38141W273<br>LEI: 549300BRJMXN4GUWZ402 | Long             | STIV             | RF                | US        |    538393 | NS      | $538393.33    | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| ARCHES BUYER INC                               | Arches Buyer Inc                                                                 | CUSIP: 039524AB9<br>LEI: 2549009ADY4208OH2Y47 | Long             | DBT              | CORP              | US        |    315000 | PA      | $253211.18    | 0.64%             | 2028-12-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| NFP CORP                                       | NFP Corp                                                                         | CUSIP: 65342RAF7<br>LEI: VO2L9FZNXDJNQNEYH039 | Long             | DBT              | CORP              | US        |    110000 | PA      | $104123.11    | 0.26%             | 2030-10-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| MEDLINE BORROWER LP                            | Medline Borrower LP                                                              | CUSIP: 62482BAA0<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |    323000 | PA      | $260901.64    | 0.66%             | 2029-04-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| CREDIT SUISSE GROUP AG                         | Credit Suisse Group AG                                                           | CUSIP: 225401AX6<br>LEI: 549300506SI9CRFV9Z86 | Long             | DBT              | CORP              | CH        |    200000 | PA      | $174713.48    | 0.44%             | N/A             | Fixed         | 9.75%                 | 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        |     30000 | PA      | $25989.26     | 0.07%             | 2031-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                       | Ford Motor Credit Co LLC                                                         | CUSIP: 345397A86<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    150000 | PA      | $134594.25    | 0.34%             | 2027-08-17      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| HCA INC                                        | HCA Inc                                                                          | CUSIP: 404119CA5<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    270000 | PA      | $233502.97    | 0.59%             | 2030-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| AERCAP GLOBAL AVIATION T                       | AerCap Global Aviation Trust                                                     | CUSIP: 00773HAA5<br>LEI: 635400FBSV8LXXNRV758 | Long             | DBT              | CORP              | US        |    570000 | PA      | $538319.86    | 1.36%             | 2045-06-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                       | Occidental Petroleum Corp                                                        | CUSIP: 674599CN3<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |     15000 | PA      | $11544.68     | 0.03%             | 2048-03-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| ATI INC                                        | ATI Inc                                                                          | CUSIP: 01741RAM4<br>LEI: ZW1LRE7C3H17O2ZN9B45 | Long             | DBT              | CORP              | US        |    312000 | PA      | $276260.28    | 0.70%             | 2031-10-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                  | Carnival Corp                                                                    | CUSIP: 143658BN1<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    717000 | PA      | $513207.09    | 1.29%             | 2027-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| SEALED AIR CORP                                | Sealed Air Corp                                                                  | CUSIP: 81211KBA7<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | DBT              | CORP              | US        |    140000 | PA      | $131802.30    | 0.33%             | 2029-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                       | Ford Motor Credit Co LLC                                                         | CUSIP: 345397ZW6<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    165000 | PA      | $152315.63    | 0.38%             | 2026-08-01      | Fixed         | 4.54%                 | No            |                  2 | On Loan: No      |
| DIG INTL FIN/DIG INTL HL                       | Digicel International Finance Ltd/Digicel international Holdings Ltd             | CUSIP: 25381VAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |    235000 | PA      | $202471.30    | 0.51%             | 2024-05-25      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| MURPHY OIL CORP                                | Murphy Oil Corp                                                                  | CUSIP: 626717AN2<br>LEI: QBKYQD0ODE7DC7PDIN91 | Long             | DBT              | CORP              | US        |    478000 | PA      | $460782.30    | 1.16%             | 2028-07-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: —       |
| TENET HEALTHCARE CORP                          | Tenet Healthcare Corp                                                            | CUSIP: 88033GDJ6<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    280000 | PA      | $251280.40    | 0.63%             | 2028-10-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: —       |
| CALPINE CORP                                   | Calpine Corp                                                                     | CUSIP: 131347CN4<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |    275000 | PA      | $245940.15    | 0.62%             | 2028-03-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: —       |
| SIRIUS XM RADIO INC                            | Sirius XM Radio Inc                                                              | CUSIP: 82967NBG2<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |    570000 | PA      | $471655.05    | 1.19%             | 2030-07-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH                             | Commonwealth of Puerto Rico                                                      | CUSIP: 74514L3Q8<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |      6469 | PA      | $5998.19      | 0.02%             | 2024-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CMG MEDIA CORPORATION                          | CMG Media Corp                                                                   | CUSIP: 88146LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $226284.00    | 0.57%             | 2027-12-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| CALPINE CORP                                   | Calpine Corp                                                                     | CUSIP: 131347CR5<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |    307000 | PA      | $247581.96    | 0.62%             | 2031-03-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| MSILF Government Portfolio                     | MSILF Government Portfolio                                                       | CUSIP: 61747C707<br>LEI: 549300BI6Y5SI6BYPB26 | Long             | STIV             | RF                | US        |    538393 | NS      | $538393.33    | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| CSC HOLDINGS LLC                               | CSC Holdings LLC                                                                 | CUSIP: 126307BD8<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    710000 | PA      | $393935.76    | 0.99%             | 2030-12-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| ENCOMPASS HEALTH CORP                          | Encompass Health Corp                                                            | CUSIP: 29261AAE0<br>LEI: 549300FVRPM9DRQZRG64 | Long             | DBT              | CORP              | US        |     90000 | PA      | $77500.96     | 0.20%             | 2031-04-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| NUSTAR LOGISTICS LP                            | NuStar Logistics LP                                                              | CUSIP: 67059TAF2<br>LEI: N62BF2PKP51FIIOIUN20 | Long             | DBT              | CORP              | US        |    237000 | PA      | $228616.65    | 0.58%             | 2026-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                          | Tenet Healthcare Corp                                                            | CUSIP: 88033GDN7<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    365000 | PA      | $316571.80    | 0.80%             | 2030-01-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| MEDLINE BORROWER LP                            | Medline Borrower LP                                                              | CUSIP: 62482BAB8<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |    118000 | PA      | $93934.49     | 0.24%             | 2029-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH                             | Commonwealth of Puerto Rico                                                      | CUSIP: 74514L3L9<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |     14120 | PA      | $11916.72     | 0.03%             | 2035-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| USA COM PART/USA COM FIN                       | USA Compression Partners LP / USA Compression Finance Corp                       | CUSIP: 91740PAF5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $46830.27     | 0.12%             | 2027-09-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| USA COM PART/USA COM FIN                       | USA Compression Partners LP / USA Compression Finance Corp                       | CUSIP: 91740PAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    346000 | PA      | $332469.67    | 0.84%             | 2026-04-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| BlackRock Liquidity FedFund                    | BlackRock Liquidity FedFund                                                      | CUSIP: 09248U700<br>LEI: 549300T8K043VZEOVK74 | Long             | STIV             | RF                | US        |    538393 | NS      | $538393.00    | 1.36%             |  |  |  | No            |                  1 | 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        |    395000 | PA      | $354141.20    | 0.89%             | 2027-08-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| DAVITA INC                                     | DaVita Inc                                                                       | CUSIP: 23918KAS7<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |    405000 | PA      | $326649.39    | 0.82%             | 2030-06-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| AERCAP HOLDINGS NV                             | AerCap Holdings NV                                                               | CUSIP: 00774YAA7<br>LEI: 549300SZYINBBLJQU475 | Long             | DBT              | CORP              | NL        |    219000 | PA      | $199708.29    | 0.50%             | 2079-10-10      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES/AADVAN                       | American Airlines Inc/AAdvantage Loyalty IP Ltd                                  | CUSIP: 00253XAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |    162615 | PA      | $148916.44    | 0.37%             | 2029-04-20      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ASBURY AUTOMOTIVE GROUP                        | Asbury Automotive Group Inc                                                      | CUSIP: 043436AW4<br>LEI: 549300JH4DTA7U42GL91 | Long             | DBT              | CORP              | US        |    245000 | PA      | $206735.90    | 0.52%             | 2029-11-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| DREYFUS INST PREF GOVT PLUS MMF - SL #4134     | DREYFUS INST PREF GOVT PLUS MMF - SL #4134                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | RF                | US        |    142700 | NS      | $142700.17    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| NUSTAR LOGISTICS LP                            | NuStar Logistics LP                                                              | CUSIP: 67059TAH8<br>LEI: N62BF2PKP51FIIOIUN20 | Long             | DBT              | CORP              | US        |    279000 | PA      | $258476.68    | 0.65%             | 2030-10-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                       | Hilcorp Energy I LP / Hilcorp Finance Co                                         | CUSIP: 431318AZ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    138000 | PA      | $119285.24    | 0.30%             | 2032-04-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                        | Frontier Communications Holdings LLC                                             | CUSIP: 35908MAD2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     70000 | PA      | $71308.62     | 0.18%             | 2030-05-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| SCIENTIFIC GAMES INTERNA                       | Scientific Games International Inc                                               | CUSIP: 80874YBE9<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | DBT              | CORP              | US        |    275000 | PA      | $264495.00    | 0.67%             | 2029-11-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| EQM MIDSTREAM PARTNERS L                       | EQM Midstream Partners LP                                                        | CUSIP: 26885BAL4<br>LEI: 549300NELT611CL6XM83 | Long             | DBT              | CORP              | US        |    569000 | PA      | $466269.90    | 1.17%             | 2031-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CONSENSUS CLOUD SOLUTION                       | Consensus Cloud Solutions Inc                                                    | CUSIP: 20848VAB1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    175000 | PA      | $161186.99    | 0.41%             | 2028-10-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                        | Royal Caribbean Cruises Ltd                                                      | CUSIP: 780153BJ0<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |     30000 | PA      | $25275.00     | 0.06%             | 2026-08-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: —       |
| GRUPO AEROMEXICO SAB                           | Grupo Aeromexico SAB de CV                                                       | CUSIP: 40054JAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | MX        |    255000 | PA      | $225545.36    | 0.57%             | 2027-03-17      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| VIBRANTZ TECH INC                              | Vibrantz Technologies Inc                                                        | CUSIP: 69357VAA3<br>LEI: 549300GYZ1T3S8OPH343 | Long             | DBT              | CORP              | US        |    330000 | PA      | $249467.00    | 0.63%             | 2030-02-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                       | Occidental Petroleum Corp                                                        | CUSIP: 674599CY9<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    125000 | PA      | $97773.13     | 0.25%             | 2049-08-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                       | Occidental Petroleum Corp                                                        | CUSIP: 674599CJ2<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |     63000 | PA      | $49316.09     | 0.12%             | 2046-04-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| MURPHY OIL USA INC                             | Murphy Oil USA Inc                                                               | CUSIP: 626738AE8<br>LEI: N32S6DTR2ZZ5222WHV58 | Long             | DBT              | CORP              | US        |    400000 | PA      | $366722.00    | 0.92%             | 2029-09-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| APACHE CORP                                    | Apache Corp                                                                      | CUSIP: 037411BA2<br>LEI: 72ZZ1XRHOOU9P9X16K08 | Long             | DBT              | CORP              | US        |    286000 | PA      | $216294.65    | 0.54%             | 2043-04-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: —       |
| MURPHY OIL USA INC                             | Murphy Oil USA Inc                                                               | CUSIP: 626738AF5<br>LEI: N32S6DTR2ZZ5222WHV58 | Long             | DBT              | CORP              | US        |     75000 | PA      | $61861.46     | 0.16%             | 2031-02-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| BAUSCH HEALTH COS INC                          | Bausch Health Cos Inc                                                            | CUSIP: 071734AP2<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |    335000 | PA      | $231444.80    | 0.58%             | 2027-02-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| COMMSCOPE TECH LLC                             | CommScope Technologies LLC                                                       | CUSIP: 20337YAA5<br>LEI: M4TWC4QDOKW45N7T6Y12 | Long             | DBT              | CORP              | US        |    138000 | PA      | $125864.28    | 0.32%             | 2025-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-02-22

**Name of Applicant:** IVY FUNDS

**Signature:** Dan Geatens

**Name of Signer:** Dan Geatens

**Title:** Division Director - Head of US Fund Administration