# EDGAR Filing Document

**Accession Number:** 0001370177
**File Stem:** 0001752724-23-050070
**Filing Date:** 2023-3
**Character Count:** 268634
**Document Hash:** da3e05e8ecae42f4e3f4639226ed8f9a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-050070.hdr.sgml**: 20230301

**ACCESSION NUMBER**: 0001752724-23-050070

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230301

**DATE AS OF CHANGE**: 20230301

**PERIOD START**: 20230930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** RiverNorth Funds
- **CENTRAL INDEX KEY:** 0001370177
- **IRS NUMBER:** 000000000

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21934
- **FILM NUMBER:** 23692724

**BUSINESS ADDRESS:**
- **STREET 1:** 360 S. ROSEMARY AVE
- **STREET 2:** SUITE 1420
- **CITY:** WEST PALM BEACH
- **STATE:** FL
- **ZIP:** 33401
- **BUSINESS PHONE:** 312-832-1440

**MAIL ADDRESS:**
- **STREET 1:** 360 S. ROSEMARY AVE
- **STREET 2:** SUITE 1420
- **CITY:** WEST PALM BEACH
- **STATE:** FL
- **ZIP:** 33401

## Series and Classes Contracts Data

### RiverNorth Core Opportunity Fund (Series ID: S000013779)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000037794 | Class R      | RNCOX           |
| C000145024 | Class I      | RNCIX           |

## Nport-Ex

RiverNorth Core Opportunity Fund

SCHEDULE OF INVESTMENTS

December 31, 2022 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Shares/Description** | | **Value** |
| **CLOSED-END FUNDS - 80.98%** | **CLOSED-END FUNDS - 80.98%** |  |
| 157974 | Aberdeen Emerging Markets Equity Income Fund, Inc. | $813566 |
| 144532 | AllianzGI Convertible & Income 2024 Target Term Fund | 1248757 |
| 22841 | Barings Global Short Duration High Yield Fund | 289624 |
| 124211 | BlackRock 2022 Global Income Opportunity Trust | 5242 |
| 289260 | Blackrock Capital Allocation Trust | 4012036 |
| 100359 | BlackRock Debt Strategies Fund, Inc. | 923303 |
| 224353 | Blackrock ESG Capital Allocation Trust | 3013061 |
| 30164 | Blackrock Health Sciences Trust II | 465431 |
| 73949 | Blackstone/GSO Senior Floating Rate Term Fund | 919186 |
| 213676 | BrandywineGLOBAL - Global Income Opportunities Fund, Inc. | 1741459 |
| 57348 | Calamos Long/Short Equity & Dynamic Income Trust | 871116 |
| 50675 | Eaton Vance, Ltd. Duration Income Fund | 475838 |
| 21886 | First Trust Dynamic Europe Equity Income Fund | 246874 |
| 108521 | First Trust Energy Infrastructure Fund | 1564873 |
| 127622 | First Trust High Yield Opportunities 2027 Term Fund | 1720345 |
| 317804 | First Trust New Opportunities MLP & Energy Fund | 1922714 |
| 76828 | Nuveen Core Plus Impact Fund | 795938 |
| 103165 | Nuveen Corporate Income 2023 Target Term Fund | 935964 |
| 179746 | Nuveen Credit Strategies Income Fund | 914907 |
| 26726 | Nuveen Preferred & Income Term Fund | 496569 |
| 11778 | Nuveen Short Duration Credit Opportunities Fund | 139687 |
| 68052 | Nuveen Variable Rate Preferred & Income Fund | 1194993 |
| 124365 | Pershing Square Holdings Ltd. | 4303029 |
| 29575 | PGIM Global High Yield Fund, Inc. | 320593 |
| 21475 | PGIM Short Duration High Yield Opportunities Fund | 315468 |
| 62323 | PIMCO Access Income Fund | 921757 |
| 158214 | PIMCO Dynamic Income Opportunities Fund | 2020393 |
| 85475 | Special Opportunities Fund, Inc. | 974415 |
| 273355 | Virtus Total Return Fund, Inc. | 1790475 |
| 160493 | Western Asset Inflation-Linked Opportunities & Income Fund | 1465301 |
| TOTAL CLOSED-END FUNDS | TOTAL CLOSED-END FUNDS |  |
| (Cost $41,329,166) | (Cost $41,329,166) | 36822914 |
| **BUSINESS DEVELOPMENT COMPANIES - 1.39%** | **BUSINESS DEVELOPMENT COMPANIES - 1.39%** |  |
| 26535 | FS KKR Capital Corp. | 464363 |
| 12745 | Golub Capital BDC, Inc. | 167724 |
| TOTAL BUSINESS DEVELOPMENT COMPANIES | TOTAL BUSINESS DEVELOPMENT COMPANIES |  |
| (Cost $647,619) | (Cost $647,619) | 632087 |
| **EXCHANGE TRADED FUNDS - 3.39%** | **EXCHANGE TRADED FUNDS - 3.39%** |  |
| 37953 | Invesco FTSE RAFI Emerging Markets Portfolio | 668732 |
| 3277 | PowerShares QQQ Trust, Series 1 | 872599 |
| TOTAL EXCHANGE TRADED FUNDS | TOTAL EXCHANGE TRADED FUNDS |  |
| (Cost $1,643,535) | (Cost $1,643,535) | 1541331 |

---

---

| | | |
|:---|:---|:---|
| **Shares/Description** | **Shares/Description** | **Value** |
| **PREFERRED STOCKS - 0.84%** | **PREFERRED STOCKS - 0.84%** |  |
| 15162 | XAI Octagon Floating Rate Alternative Income Term Trust, Series 2026, 6.500%, 03/31/2026 | $379808 |
| TOTAL PREFERRED STOCKS | TOTAL PREFERRED STOCKS |  |
| (Cost $378,878) | (Cost $378,878) | 379808 |
| **SPECIAL PURPOSE ACQUISITION COMPANIES - 0.00%** | **SPECIAL PURPOSE ACQUISITION COMPANIES - 0.00%** |  |
| 924 | AGBA Group Holding, Ltd.<sup>(a)</sup> | 1423 |
| TOTAL SPECIAL PURPOSE ACQUISITION COMPANIES | TOTAL SPECIAL PURPOSE ACQUISITION COMPANIES |  |
| (Cost $2,086) |  | 1423 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Shares/Principal Amount/Description** | **Shares/Principal Amount/Description** | **Rate** | **Maturity** | **Value** |
| **BUSINESS DEVELOPMENT COMPANY NOTES - 5.56%** | **BUSINESS DEVELOPMENT COMPANY NOTES - 5.56%** | **BUSINESS DEVELOPMENT COMPANY NOTES - 5.56%** | **BUSINESS DEVELOPMENT COMPANY NOTES - 5.56%** | **BUSINESS DEVELOPMENT COMPANY NOTES - 5.56%** |
| ***United States - 5.56%*** | ***United States - 5.56%*** | ***United States - 5.56%*** | ***United States - 5.56%*** | ***United States - 5.56%*** |
| $72619  | First Eagle Alternative Capital BDC, Inc. | 5.00% | 05/25/2026 | 1674594 |
| 1978  | New Mountain Finance Corp. | 5.75% | 08/15/2023 | 1972 |
| 977764  | PennantPark Floating Rate Capital, Ltd. | 4.25% | 04/01/2026 | 853006 |
| TOTAL BUSINESS DEVELOPMENT COMPANY NOTES | TOTAL BUSINESS DEVELOPMENT COMPANY NOTES | TOTAL BUSINESS DEVELOPMENT COMPANY NOTES | TOTAL BUSINESS DEVELOPMENT COMPANY NOTES | TOTAL BUSINESS DEVELOPMENT COMPANY NOTES |
| (Cost $2,815,995) |  |  |  | 2529572 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal Amount/Description** | **Principal Amount/Description** | **Rate** | **Maturity** | **Value** |
| **U.S. CORPORATE BONDS - 2.57%** | **U.S. CORPORATE BONDS - 2.57%** | **U.S. CORPORATE BONDS - 2.57%** | **U.S. CORPORATE BONDS - 2.57%** | **U.S. CORPORATE BONDS - 2.57%** |
| ***Investment Companies - 1.76%*** | ***Investment Companies - 1.76%*** | ***Investment Companies - 1.76%*** | ***Investment Companies - 1.76%*** | ***Investment Companies - 1.76%*** |
| 164009 | Blackstone Private Credit Fund | 3.25% | 03/15/2027 | 138308 |
| 495561 | Owl Rock Capital Corp. | 3.40% | 07/15/2026 | 433285 |
| 249936 | OWL Rock Core Income Corp. | 4.70% | 02/08/2027 | 225710 |
|  |  |  |  | 797303 |
| ***Private Equity - 0.81%*** | ***Private Equity - 0.81%*** | ***Private Equity - 0.81%*** | ***Private Equity - 0.81%*** | ***Private Equity - 0.81%*** |
| 437712 | Hercules Capital, Inc. | 2.63% | 09/16/2026 | 369677 |
| TOTAL U.S. CORPORATE BONDS | TOTAL U.S. CORPORATE BONDS | TOTAL U.S. CORPORATE BONDS | TOTAL U.S. CORPORATE BONDS | TOTAL U.S. CORPORATE BONDS |
| (Cost $1,152,895) |  |  |  | 1166980 |

---

---

| | | |
|:---|:---|:---|
| **Shares/Description** |  | **Value** |
| **Warrants - 0.01%** | **Warrants - 0.01%** | **Warrants - 0.01%** |
| 13110 | AGBA Group Holding, Ltd., Strike Price 11.50, Expires 05/10/2024 | 556 |
| 7024 | Ares Acquisition Corp., Strike Price 11.50, Expires 12/31/2027 | 3275 |
| 8081 | Churchill Capital Corp. VI, Strike Price 11.50, Expires 12/31/2027 | 485 |
| 8168 | Churchill Capital Corp. VII, Strike Price 11.50, Expires 02/29/2028 | 404 |
| 10113 | Jaws Mustang Acquisition Corp., Strike Price 11.50, Expires 01/30/2026 | 657 |
| 5303 | Landcadia Holdings IV, Inc., Strike Price 11.50, Expires 12/31/2028 | 530 |
| TOTAL WARRANTS | TOTAL WARRANTS |  |
| (Cost $51,465) | (Cost $51,465) | 5907 |
| **Short-Term Investments - 5.26%** | **Short-Term Investments - 5.26%** |  |
| **Money Market Fund - 5.26%** | **Money Market Fund - 5.26%** |  |
| 2392323 | State Street Institutional Trust (7 Day Yield 3.77%) | $2392323 |
| TOTAL SHORT-TERM INVESTMENTS | TOTAL SHORT-TERM INVESTMENTS |  |
| (Cost $2,392,323) | (Cost $2,392,323) | 2392323 |

---

---

| | |
|:---|:---|
| **Shares/Description** | **Value** |
| **TOTAL INVESTMENTS - 100.00%** |  |
| **(Cost $50,413,962)** | $45472345 |
| **LIABILITIES IN EXCESS OF OTHER ASSETS - –%<sup>(b)</sup>** | (1602) |
| **NET ASSETS - 100.00%** | $45470743 |

---

*<sup>(a)</sup>* *Non-income producing security.*

*<sup>(b)</sup>* *Less than 0.005%.*

 

*See Notes to Quarterly Schedule of Investments.*

RiverNorth/DoubleLine Strategic Income Fund

SCHEDULE OF INVESTMENTS

December 31, 2022 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Shares/Description** | | **Value** |
| **CLOSED-END FUNDS - 17.31%** | **CLOSED-END FUNDS - 17.31%** |  |
| 336253 | AllianceBernstein Global High Income Fund, Inc. | $3100253 |
| 231474 | Apollo Tactical Income Fund, Inc. | 2805465 |
| 383908 | Barings Global Short Duration High Yield Fund | 4867953 |
| 1016191 | BlackRock Corporate High Yield Fund, Inc. | 8881509 |
| 422057 | BlackRock Credit Allocation Income Trust | 4262776 |
| 130970 | BlackRock Debt Strategies Fund, Inc. | 1204924 |
| 293653 | Blackstone Long-Short Credit Income Fund | 3183199 |
| 911847 | Blackstone Strategic Credit Fund | 9647341 |
| 166245 | Blackstone/GSO Senior Floating Rate Term Fund | 2066425 |
| 1266209 | BrandywineGLOBAL - Global Income Opportunities Fund, Inc. | 10319603 |
| 274376 | Cohen & Steers Tax-Advantaged Preferred Securities & Income Fund | 4848224 |
| 176213 | First Trust High Income Long/Short Fund | 2017639 |
| 695542 | First Trust High Yield Opportunities 2027 Term Fund | 9375906 |
| 340444 | Franklin Limited Duration Income Trust | 2114157 |
| 296273 | Invesco Dynamic Credit Opportunity Fund | 3315296 |
| 509814 | Invesco Senior Income Trust | 1952588 |
| 264381 | Morgan Stanley Emerging Markets Debt Fund, Inc. | 1729052 |
| 1449660 | Morgan Stanley Emerging Markets Domestic Debt Fund, Inc. | 6378504 |
| 917981 | Nuveen Core Plus Impact Fund | 9510283 |
| 3475664 | Nuveen Credit Strategies Income Fund | 17691130 |
| 500931 | Nuveen Preferred & Income Securities Fund | 3406331 |
| 323588 | Nuveen Senior Income Fund | 1485269 |
| 894097 | PGIM Global High Yield Fund, Inc. | 9692012 |
| 696029 | PGIM High Yield Bond Fund, Inc. | 8261864 |
| 550772 | PGIM Short Duration High Yield Opportunities Fund | 8090841 |
| 251651 | PIMCO Access Income Fund | 3721918 |
| 817446 | PIMCO Dynamic Income Opportunities Fund | 10438785 |
| 626391 | Templeton Emerging Markets Income Fund | 3438887 |
| 331750 | Virtus AllianzGI Diversified Income & Convertible Fund | 7038143 |
| 790992 | Western Asset Diversified Income Fund | 10045598 |
| 1812439 | Western Asset Emerging Markets Debt Fund, Inc. | 16511319 |
| 3200944 | Western Asset High Income Opportunity Fund, Inc. | 12643729 |
| TOTAL CLOSED-END FUNDS | TOTAL CLOSED-END FUNDS |  |
| (Cost $251,409,066) | (Cost $251,409,066) | 204046923 |
| **BUSINESS DEVELOPMENT COMPANIES - PREFERRED SHARES - 1.01%** | **BUSINESS DEVELOPMENT COMPANIES - PREFERRED SHARES - 1.01%** |  |
| 246313 | First Eagle Alternative Capital BDC, Inc., 5.000%, 05/25/2026 | 5679978 |
| 49593 | Oxford Square Capital Corp., 6.250%, 04/30/2026 | 1177834 |
| 5770000 | PennantPark Floating Rate Capital, Ltd., 4.250%, 04/01/2026<sup>(a)</sup> | 5033775 |
| TOTAL BUSINESS DEVELOPMENT COMPANIES - PREFERRED SHARES | TOTAL BUSINESS DEVELOPMENT COMPANIES - PREFERRED SHARES |  |
| (Cost $13,141,390) | (Cost $13,141,390) | 11891587 |
| **OPEN-END FUNDS - 2.61%** | **OPEN-END FUNDS - 2.61%** |  |
| 3695034 | RiverNorth/Oaktree High Income Fund, Class I<sup>(b)</sup> | 30743419 |
| TOTAL OPEN-END FUNDS | TOTAL OPEN-END FUNDS |  |
| (Cost $35,635,989) | (Cost $35,635,989) | 30743419 |
| **PREFERRED STOCKS - 0.07%** | **PREFERRED STOCKS - 0.07%** |  |
| 32069 | Oxford Square Capital Corp., 6.500%, 03/30/2024 | 789859 |

---

---

| | | |
|:---|:---|:---|
| **Shares/Description** | | **Value** |
| 8906 | Riverbed Tech Pref A, 1.500%, 11/17/2028<sup>(a)</sup> | $6724 |
| TOTAL PREFERRED STOCKS | TOTAL PREFERRED STOCKS |  |
| (Cost $990,340) |  | 796583 |
| **SPECIAL PURPOSE ACQUISITION COMPANIES - 1.51%** | **SPECIAL PURPOSE ACQUISITION COMPANIES - 1.51%** |  |
| 1693856 | Barings BDC, Inc. | 13804926 |
| 5476 | Bright Bidco Equity (Dr)<sup>(a)</sup> | 101991 |
| 6676 | CW Travel<sup>(a)</sup> | 45063 |
| 350000 | Far Peak Acquisition Corp., Class A<sup>(a)</sup> | 3514000 |
| 9442 | Frontera Energy Corp.<sup>(a)</sup> | 86096 |
| 1113 | Intelsat Jackson Holdings SA, Series A<sup>(a)</sup> | 8348 |
| 1113 | Intelsat Jackson Holdings SA, Series B<sup>(a)</sup> | 7513 |
| 10628 | Intelsat New Common<sup>(a)</sup> | 255072 |
| TOTAL SPECIAL PURPOSE ACQUISITION COMPANIES | TOTAL SPECIAL PURPOSE ACQUISITION COMPANIES |  |
| (Cost $22,817,030) |  | 17823009 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal Amount/Description** | **Principal Amount/Description** | **Rate** | **Maturity** | **Value** |
| **FOREIGN CORPORATE BONDS - 4.53%** | **FOREIGN CORPORATE BONDS - 4.53%** | **FOREIGN CORPORATE BONDS - 4.53%** | **FOREIGN CORPORATE BONDS - 4.53%** | **FOREIGN CORPORATE BONDS - 4.53%** |
| ***Argentina - 0.09%*** | ***Argentina - 0.09%*** | ***Argentina - 0.09%*** | ***Argentina - 0.09%*** | ***Argentina - 0.09%*** |
| $150000 | Pampa Energia SA<sup>(c)</sup> | 9.13% | 04/15/2029 | $137970 |
| 150000 | Pampa Energia SA<sup>(d)</sup> | 9.13% | 04/15/2029 | 137969 |
| 300000 | YPF SA | 8.50% | 06/27/2029 | 225962 |
| 850000 | YPF SA | 7.00% | 12/15/2047 | 511133 |
|  |  |  |  | 1013034 |
| ***Australia - 0.38%*** | ***Australia - 0.38%*** | ***Australia - 0.38%*** | ***Australia - 0.38%*** | ***Australia - 0.38%*** |
| 1000000 | APA Infrastructure, Ltd.<sup>(c)</sup> | 4.25% | 07/15/2027 | 935623 |
| 765000 | Australia & New Zealand Banking Group, Ltd.<sup>(c)(e)</sup> | 5Y US TI + 1.70% | 11/25/2035 | 562899 |
| 675000 | Commonwealth Bank of Australia<sup>(c)</sup> | 4.32% | 01/10/2048 | 506263 |
| 805000 | Macquarie Group, Ltd.<sup>(c)(e)</sup> | 1D US SOFR + 1.532% | 01/14/2033 | 619545 |
| 475000 | National Australia Bank, Ltd.<sup>(c)</sup> | 2.99% | 05/21/2031 | 372922 |
| 340000 | NBN Co., Ltd.<sup>(c)</sup> | 1.45% | 05/05/2026 | 300377 |
| 500000 | Sydney Airport Finance Co. Pty, Ltd.<sup>(c)</sup> | 3.38% | 04/30/2025 | 474529 |
| 500000 | Sydney Airport Finance Co. Pty, Ltd.<sup>(c)</sup> | 3.63% | 04/28/2026 | 470201 |
| 380000 | Westpac Banking Corp.<sup>(e)</sup> | 5Y US TI + 1.53% | 11/18/2036 | 283391 |
|  |  |  |  | 4525750 |
| ***Brazil - 0.06%*** | ***Brazil - 0.06%*** | ***Brazil - 0.06%*** | ***Brazil - 0.06%*** | ***Brazil - 0.06%*** |
| 800000 | BRF SA<sup>(d)</sup> | 5.75% | 09/21/2050 | 572272 |
| 950000 | Oi SA<sup>(f)</sup> | 10.00% (4.00%) | 07/27/2025 | 164161 |
|  |  |  |  | 736433 |
| ***British Virgin Islands - 0.04%*** | ***British Virgin Islands - 0.04%*** | ***British Virgin Islands - 0.04%*** | ***British Virgin Islands - 0.04%*** | ***British Virgin Islands - 0.04%*** |
| 550000 | TSMC Global, Ltd.<sup>(c)</sup> | 1.25% | 04/23/2026 | 493246 |
| ***Canada - 0.54%*** | ***Canada - 0.54%*** | ***Canada - 0.54%*** | ***Canada - 0.54%*** | ***Canada - 0.54%*** |
| 13000 | 1375209 BC, Ltd.<sup>(c)</sup> | 9.00% | 01/30/2028 | 12724 |
| 200000 | Aris Mining Corp.<sup>(d)</sup> | 6.88% | 08/09/2026 | 157102 |
| 455000 | Bank of Montreal<sup>(e)</sup> | 3.80% | 12/15/2032 | 401370 |
| 585000 | Bank of Nova Scotia<sup>(e)</sup> | 5Y US TI + 2.05% | 05/04/2037 | 500735 |
| 110000 | Bell Telephone Co. of Canada or Bell Canada | 3.65% | 08/15/2052 | 80601 |
| 265000 | CCL Industries, Inc.<sup>(c)</sup> | 3.05% | 06/01/2030 | 218623 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Principal Amount/Description** | **Principal Amount/Description** | **Principal Amount/Description** | **Rate** | **Maturity** | **Value** | **Value** |
| $| 245000 | CI Financial Corp. | 4.10% | 06/15/2051 | $| 145181 |
|  | 275000 | Enbridge, Inc. | 3.40% | 08/01/2051 |  | 187917 |
|  | 200000 | Frontera Energy Corp.<sup>(c)</sup> | 7.88% | 06/21/2028 |  | 166384 |
|  | 220000 | Garda World Security Corp.<sup>(c)</sup> | 6.00% | 06/01/2029 |  | 179047 |
|  | 600000 | Gran Tierra Energy, Inc.<sup>(c)</sup> | 7.75% | 05/23/2027 |  | 486982 |
|  | 400000 | Gran Tierra Energy, Inc.<sup>(d)</sup> | 7.75% | 05/23/2027 |  | 324655 |
|  | 50000 | Kronos Acquisition Holdings, Inc. / KIK Custom Products, Inc.<sup>(c)</sup> | 5.00% | 12/31/2026 |  | 43313 |
|  | 1380000 | Kronos Acquisition Holdings, Inc. / KIK Custom Products, Inc.<sup>(c)</sup> | 7.00% | 12/31/2027 |  | 1136775 |
|  | 205000 | Mattamy Group Corp.<sup>(c)</sup> | 4.63% | 03/01/2030 |  | 166514 |
|  | 155000 | Parkland Corp./Alberta<sup>(c)</sup> | 4.50% | 10/01/2029 |  | 129380 |
|  | 205000 | Superior Plus LP / Superior General Partner, Inc.<sup>(c)</sup> | 4.50% | 03/15/2029 |  | 175571 |
|  | 540000 | Telesat Canada / Telesat LLC<sup>(c)</sup> | 5.63% | 12/06/2026 |  | 249087 |
|  | 925000 | Toronto-Dominion Bank | 4.69% | 09/15/2027 |  | 916022 |
|  | 750000 | TransCanada PipeLines, Ltd. | 4.25% | 05/15/2028 |  | 711353 |
|  |  |  |  |  |  | 6389336 |
| ***Cayman Islands - 0.16%*** | ***Cayman Islands - 0.16%*** | ***Cayman Islands - 0.16%*** | ***Cayman Islands - 0.16%*** | ***Cayman Islands - 0.16%*** | ***Cayman Islands - 0.16%*** | ***Cayman Islands - 0.16%*** |
|  | 200000 | Banco Mercantil del Norte SA/Grand Cayman<sup>(c)(e)(g)</sup> | 7.50% | Perpetual Maturity |  | 183430 |
|  | 200000 | Banco Mercantil del Norte SA/Grand Cayman<sup>(c)(e)(g)</sup> | 10Y US TI + 5.034% | Perpetual Maturity |  | 165964 |
|  | 200000 | Banco Mercantil del Norte SA/Grand Cayman<sup>(d)(e)(g)</sup> | 7.63% | Perpetual Maturity |  | 187674 |
|  | 500000 | Banco Mercantil del Norte SA/Grand Cayman<sup>(d)(e)(g)</sup> | 10Y US TI + 5.034% | Perpetual Maturity |  | 414910 |
|  | 136993 | Bioceanico Sovereign Certificate, Ltd.<sup>(d)(h)</sup> | 0.00% | 06/05/2034 |  | 94730 |
|  | 172473 | Global Aircraft Leasing Co., Ltd.<sup>(c)(f)</sup> | 6.50% (7.25%) | 09/15/2024 |  | 146973 |
|  | 301285 | Interoceanica IV Finance, Ltd.<sup>(h)</sup> | 0.00% | 11/30/2025 |  | 277935 |
|  | 141931 | Lima Metro Line 2 Finance, Ltd.<sup>(c)</sup> | 5.88% | 07/05/2034 |  | 138104 |
|  | 186667 | Rutas 2 and 7 Finance, Ltd.<sup>(d)(h)</sup> | 0.00% | 09/30/2036 |  | 117979 |
|  | 179375 | Transocean Poseidon, Ltd.<sup>(c)</sup> | 6.88% | 02/01/2027 |  | 174837 |
|  |  |  |  |  |  | 1902536 |
| ***Chile - 0.39%*** | ***Chile - 0.39%*** | ***Chile - 0.39%*** | ***Chile - 0.39%*** | ***Chile - 0.39%*** | ***Chile - 0.39%*** | ***Chile - 0.39%*** |
|  | 400000 | AES Andes SA<sup>(c)(e)</sup> | 6.35% | 10/07/2079 |  | 369366 |
|  | 300000 | AES Andes SA<sup>(e)</sup> | 7.13% | 03/26/2079 |  | 285932 |
|  | 400000 | AES Andes SA<sup>(d)(e)</sup> | 6.35% | 10/07/2079 |  | 369365 |
|  | 200000 | CAP SA<sup>(c)</sup> | 3.90% | 04/27/2031 |  | 156450 |
|  | 700000 | CAP SA<sup>(d)</sup> | 3.90% | 04/27/2031 |  | 547577 |
|  | 900000 | Empresa de Transporte de Pasajeros Metro SA<sup>(c)</sup> | 5.00% | 01/25/2047 |  | 785991 |
|  | 331800 | Empresa Electrica Cochrane SpA<sup>(d)</sup> | 5.50% | 05/14/2027 |  | 307380 |
|  | 370620 | GNL Quintero SA<sup>(d)</sup> | 4.63% | 07/31/2029 |  | 358516 |
|  | 600000 | Guacolda Energia SA<sup>(d)</sup> | 4.56% | 04/30/2025 |  | 177000 |
|  | 200000 | Inversiones La Construccion SA<sup>(d)</sup> | 4.75% | 02/07/2032 |  | 163194 |
|  | 750000 | Transelec SA<sup>(d)</sup> | 3.88% | 01/12/2029 |  | 680452 |
|  | 1050000 | VTR Finance NV<sup>(d)</sup> | 6.38% | 07/15/2028 |  | 407186 |
|  |  |  |  |  |  | 4608409 |
| ***China - 0.05%*** | ***China - 0.05%*** | ***China - 0.05%*** | ***China - 0.05%*** | ***China - 0.05%*** | ***China - 0.05%*** | ***China - 0.05%*** |
|  | 295000 | Agile Group Holdings, Ltd.<sup>(e)(g)</sup> | 7.75% | Perpetual Maturity |  | 74714 |
|  | 200000 | Alibaba Group Holding, Ltd. | 3.25% | 02/09/2061 |  | 120473 |
|  | 500000 | Central China Real Estate, Ltd. | 7.25% | 07/16/2024 |  | 145414 |
|  | 400000 | Ronshine China Holdings, Ltd.<sup>(i)</sup> | 7.35% | 12/15/2023 |  | 28300 |
|  | 600000 | Ronshine China Holdings, Ltd. | 6.75% | 08/05/2024 |  | 50731 |
|  | 200000 | Tencent Holdings, Ltd.<sup>(d)</sup> | 3.24% | 06/03/2050 |  | 126812 |
|  | 350000 | Yuzhou Group Holdings Co., Ltd.<sup>(i)</sup> | 8.30% | 05/27/2025 |  | 34227 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Principal Amount/Description** | **Principal Amount/Description** | **Principal Amount/Description** | **Rate** | **Maturity** | **Value** |
| $| 600000 | Yuzhou Group Holdings Co., Ltd.<sup>(i)</sup> | 7.38% | 01/13/2026 | 58446 |
|  |  |  |  |  | 639117 |
| ***Colombia - 0.31%*** | ***Colombia - 0.31%*** | ***Colombia - 0.31%*** | ***Colombia - 0.31%*** | ***Colombia - 0.31%*** | ***Colombia - 0.31%*** |
|  | 450000 | Banco Davivienda SA<sup>(c)(e)(g)</sup> | 10Y US TI + 5.10% | Perpetual Maturity | 347625 |
|  | 350000 | Banco Davivienda SA<sup>(d)(e)(g)</sup> | 10Y US TI + 5.097% | Perpetual Maturity | 270375 |
|  | 650000 | Banco GNB Sudameris SA<sup>(c)(e)</sup> | 5Y US TI + 6.66% | 04/16/2031 | 472884 |
|  | 200000 | Banco GNB Sudameris SA<sup>(d)(e)</sup> | 5Y US TI + 6.66% | 04/16/2031 | 145503 |
|  | 350000 | Credivalores-Crediservicios SAS<sup>(c)</sup> | 8.88% | 02/07/2025 | 83200 |
|  | 400000 | Credivalores-Crediservicios SAS<sup>(d)</sup> | 8.88% | 02/07/2025 | 95085 |
|  | 100000 | Ecopetrol SA | 4.63% | 11/02/2031 | 76589 |
|  | 950000 | Ecopetrol SA | 5.88% | 05/28/2045 | 663512 |
|  | 1020000 | Ecopetrol SA | 5.88% | 11/02/2051 | 687472 |
|  | 400000 | Empresas Publicas de Medellin ESP<sup>(d)</sup> | 4.25% | 07/18/2029 | 318220 |
|  | 700000 | Empresas Publicas de Medellin ESP<sup>(d)</sup> | 4.38% | 02/15/2031 | 545139 |
|  |  |  |  |  | 3705604 |
| ***Cyprus - 0.01%*** | ***Cyprus - 0.01%*** | ***Cyprus - 0.01%*** | ***Cyprus - 0.01%*** | ***Cyprus - 0.01%*** | ***Cyprus - 0.01%*** |
|  | 200000 | Interpipe Holdings PLC<sup>(c)</sup> | 8.38% | 05/13/2026 | 82104 |
| ***France - 0.08%*** | ***France - 0.08%*** | ***France - 0.08%*** | ***France - 0.08%*** | ***France - 0.08%*** | ***France - 0.08%*** |
|  | 730000 | BNP Paribas SA<sup>(c)(e)</sup> | 1D SOFR + 1.51% | 01/13/2031 | 599793 |
|  | 340000 | BPCE SA<sup>(c)</sup> | 1.00% | 01/20/2026 | 298422 |
|  |  |  |  |  | 898215 |
| ***Great Britain - 0.31%*** | ***Great Britain - 0.31%*** | ***Great Britain - 0.31%*** | ***Great Britain - 0.31%*** | ***Great Britain - 0.31%*** | ***Great Britain - 0.31%*** |
|  | 200000 | AngloGold Ashanti Holdings PLC | 3.75% | 10/01/2030 | 173636 |
|  | 515000 | Barclays PLC<sup>(e)</sup> | 3M US L + 1.38% | 05/16/2024 | 515024 |
|  | 655000 | HSBC Holdings PLC<sup>(e)</sup> | 3M US L + 1.38% | 09/12/2026 | 645090 |
|  | 730000 | Lloyds Banking Group PLC<sup>(e)</sup> | 3M US L + 1.21% | 11/07/2028 | 657675 |
|  | 335000 | NatWest Markets PLC<sup>(c)</sup> | 0.80% | 08/12/2024 | 310571 |
|  | 300047 | SCC Power PLC<sup>(c)(f)</sup> | 8.00% (8.00%) | 12/31/2028 | 106817 |
|  | 162526 | SCC Power PLC<sup>(c)(f)</sup> | 4.00% (4.00%) | 05/17/2032 | 6473 |
|  | 472000 | Tullow Oil PLC<sup>(c)</sup> | 10.25% | 05/15/2026 | 379403 |
|  | 450000 | Vedanta Resources Finance II PLC<sup>(c)</sup> | 9.25% | 04/23/2026 | 292196 |
|  | 200000 | Vedanta Resources Finance II PLC<sup>(d)</sup> | 9.25% | 04/23/2026 | 129865 |
|  | 480000 | Weir Group PLC<sup>(c)</sup> | 2.20% | 05/13/2026 | 426247 |
|  |  |  |  |  | 3642997 |
| ***Hong Kong - 0.04%*** | ***Hong Kong - 0.04%*** | ***Hong Kong - 0.04%*** | ***Hong Kong - 0.04%*** | ***Hong Kong - 0.04%*** | ***Hong Kong - 0.04%*** |
|  | 200000 | Kasikornbank PCL<sup>(e)(g)</sup> | 5Y US TI + 3.337% | Perpetual Maturity | 167672 |
|  | 200000 | RKP Overseas Finance, Ltd.<sup>(g)</sup> | 7.75% | Perpetual Maturity | 94258 |
|  | 400000 | RKP Overseas Finance, Ltd.<sup>(g)</sup> | 7.95% | Perpetual Maturity | 187628 |
|  |  |  |  |  | 449558 |
| ***India - 0.16%*** | ***India - 0.16%*** | ***India - 0.16%*** | ***India - 0.16%*** | ***India - 0.16%*** | ***India - 0.16%*** |
|  | 375000 | Adani International Container Terminal Pvt, Ltd.<sup>(d)</sup> | 3.00% | 02/16/2031 | 294134 |
|  | 200000 | Adani Ports & Special Economic Zone, Ltd.<sup>(d)</sup> | 4.38% | 07/03/2029 | 168220 |
|  | 500000 | Adani Ports & Special Economic Zone, Ltd. | 3.10% | 02/02/2031 | 367527 |
|  | 400000 | JSW Steel, Ltd.<sup>(d)</sup> | 5.05% | 04/05/2032 | 316311 |
|  | 200000 | Network i2i, Ltd.<sup>(d)(e)(g)</sup> | 5Y US TI + 3.39% | Perpetual Maturity | 175000 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Principal Amount/Description** | **Principal Amount/Description** | **Principal Amount/Description** | **Rate** | **Maturity** | **Value** |
| $| 900000 | Vedanta Resources, Ltd. | 6.13% | 08/09/2024 | 569278 |
|  |  |  |  |  | 1890470 |
| ***Indonesia - 0.14%*** | ***Indonesia - 0.14%*** | ***Indonesia - 0.14%*** | ***Indonesia - 0.14%*** | ***Indonesia - 0.14%*** | ***Indonesia - 0.14%*** |
|  | 500000 | ABM Investama Tbk PT<sup>(c)</sup> | 9.50% | 08/05/2026 | 446459 |
|  | 200000 | Freeport Indonesia PT<sup>(c)</sup> | 5.32% | 04/14/2032 | 184447 |
|  | 400000 | Gajah Tunggal Tbk PT | 8.95% | 06/23/2026 | 308000 |
|  | 200000 | Indonesia Asahan Aluminium Persero PT | 5.80% | 05/15/2050 | 168006 |
|  | 595000 | Kawasan Industri Jababeka Tbk PT<sup>(c)(j)</sup> | 7.00% | 12/15/2027 | 365925 |
|  | 300000 | Pertamina Persero PT<sup>(d)</sup> | 4.15% | 02/25/2060 | 216780 |
|  |  |  |  |  | 1689617 |
| ***Ireland - 0.03%*** | ***Ireland - 0.03%*** | ***Ireland - 0.03%*** | ***Ireland - 0.03%*** | ***Ireland - 0.03%*** | ***Ireland - 0.03%*** |
|  | 465000 | Avolon Holdings Funding, Ltd.<sup>(c)</sup> | 3.25% | 02/15/2027 | 398559 |
| ***Israel - 0.09%*** | ***Israel - 0.09%*** | ***Israel - 0.09%*** | ***Israel - 0.09%*** | ***Israel - 0.09%*** | ***Israel - 0.09%*** |
|  | 200000 | Bank Hapoalim BM<sup>(c)(e)</sup> | 5Y US TI + 2.155% | 01/21/2032 | 172948 |
|  | 900000 | Israel Electric Corp., Ltd.<sup>(c)</sup> | 5.00% | 11/12/2024 | 892453 |
|  |  |  |  |  | 1065401 |
| ***Jamaica - 0.00%(k)*** | ***Jamaica - 0.00%(k)*** | ***Jamaica - 0.00%(k)*** | ***Jamaica - 0.00%(k)*** | ***Jamaica - 0.00%(k)*** | ***Jamaica - 0.00%(k)*** |
|  | 68298 | Digicel Group Holdings, Ltd.<sup>(c)(f)</sup> | 8.00% (8.00%) | 04/01/2025 | 18620 |
| ***Japan - 0.05%*** | ***Japan - 0.05%*** | ***Japan - 0.05%*** | ***Japan - 0.05%*** | ***Japan - 0.05%*** | ***Japan - 0.05%*** |
|  | 710000 | Renesas Electronics Corp.<sup>(c)</sup> | 2.17% | 11/25/2026 | 609447 |
| ***Luxembourg - 0.27%*** | ***Luxembourg - 0.27%*** | ***Luxembourg - 0.27%*** | ***Luxembourg - 0.27%*** | ***Luxembourg - 0.27%*** | ***Luxembourg - 0.27%*** |
|  | 150000 | Atento Luxco 1 SA<sup>(c)</sup> | 8.00% | 02/10/2026 | 81000 |
|  | 600000 | Endo Luxembourg Finance Co. I SARL / Endo US, Inc.<sup>(c)(i)</sup> | 6.13% | 04/01/2029 | 456284 |
|  | 554370 | FEL Energy VI Sarl<sup>(d)</sup> | 5.75% | 12/01/2040 | 475209 |
|  | 1100000 | Intelsat Escrow Shares<sup>(l)</sup> | 0.00% | Perpetual Maturity | 0 |
|  | 1000000 | MC Brazil Downstream Trading SARL<sup>(d)</sup> | 7.25% | 06/30/2031 | 826558 |
|  | 270000 | Millicom International Cellular SA<sup>(d)</sup> | 6.25% | 03/25/2029 | 258605 |
|  | 700000 | Movida Europe SA<sup>(d)</sup> | 5.25% | 02/08/2031 | 525765 |
|  | 600000 | Simpar Europe SA<sup>(d)</sup> | 5.20% | 01/26/2031 | 455298 |
|  | 155000 | SK Invictus Intermediate II Sarl<sup>(c)</sup> | 5.00% | 10/30/2029 | 127302 |
|  |  |  |  |  | 3206021 |
| ***Mauritius - 0.08%*** | ***Mauritius - 0.08%*** | ***Mauritius - 0.08%*** | ***Mauritius - 0.08%*** | ***Mauritius - 0.08%*** | ***Mauritius - 0.08%*** |
|  | 200000 | UPL Corp., Ltd. | 4.50% | 03/08/2028 | 168157 |
|  | 200000 | UPL Corp., Ltd. | 4.63% | 06/16/2030 | 158083 |
|  | 800000 | UPL Corp., Ltd.<sup>(e)(g)</sup> | 5Y US TI + 3.865% | Perpetual Maturity | 560000 |
|  |  |  |  |  | 886240 |
| ***Mexico - 0.25%*** | ***Mexico - 0.25%*** | ***Mexico - 0.25%*** | ***Mexico - 0.25%*** | ***Mexico - 0.25%*** | ***Mexico - 0.25%*** |
|  | 659912 | Alpha Holding SA de CV<sup>(c)(i)(m)</sup> | 9.00% | 02/10/2025 | 0 |
|  | 188546 | Alpha Holding SA de CV<sup>(m)</sup> | 9.00% | 02/10/2025 |  |
|  | 800000 | Braskem Idesa SAPI<sup>(c)</sup> | 6.99% | 02/20/2032 | 572571 |
|  | 200000 | Braskem Idesa SAPI<sup>(d)</sup> | 6.99% | 02/20/2032 | 143142 |
|  | 500000 | Credito Real SAB de CV SOFOM ER<sup>(d)(i)</sup> | 9.50% | 02/07/2026 | 14375 |
|  | 600000 | Mexarrend SAPI de CV<sup>(c)</sup> | 10.25% | 07/24/2024 | 138869 |
|  | 200000 | Mexarrend SAPI de CV<sup>(d)</sup> | 10.25% | 07/24/2024 | 46290 |
|  | 1100000 | Mexico City Airport Trust<sup>(d)</sup> | 5.50% | 07/31/2047 | 849580 |
|  | 700000 | Operadora de Servicios Mega SA de CV Sofom ER<sup>(c)</sup> | 8.25% | 02/11/2025 | 352114 |
|  | 750000 | Petroleos Mexicanos | 6.38% | 01/23/2045 | 466166 |
|  | 500000 | Petroleos Mexicanos | 6.75% | 09/21/2047 | 320142 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Principal Amount/Description** | **Principal Amount/Description** | **Principal Amount/Description** | **Rate** | **Maturity** | **Value** |
| $| 1000000 | Unifin Financiera SAB de CV<sup>(d)(e)(g)(i)</sup> | 8.88% | Perpetual Maturity | 7800 |
|  |  |  |  |  | 2911049 |
| ***Morocco - 0.08%*** | ***Morocco - 0.08%*** | ***Morocco - 0.08%*** | ***Morocco - 0.08%*** | ***Morocco - 0.08%*** | ***Morocco - 0.08%*** |
|  | 1200000 | OCP SA<sup>(d)</sup> | 5.13% | 06/23/2051 | 915462 |
| ***Netherlands - 0.29%*** | ***Netherlands - 0.29%*** | ***Netherlands - 0.29%*** | ***Netherlands - 0.29%*** | ***Netherlands - 0.29%*** | ***Netherlands - 0.29%*** |
|  | 300000 | Braskem Netherlands Finance BV<sup>(d)(e)</sup> | 5Y US TI + 8.22% | 01/23/2081 | 291165 |
|  | 600000 | Coruripe Netherlands BV<sup>(d)</sup> | 10.00% | 02/10/2027 | 481500 |
|  | 200000 | Metinvest BV<sup>(d)</sup> | 7.75% | 10/17/2029 | 101500 |
|  | 200000 | Minejesa Capital BV | 4.63% | 08/10/2030 | 176040 |
|  | 1600000 | Minejesa Capital BV | 5.63% | 08/10/2037 | 1248489 |
|  | 171300 | MV24 Capital BV<sup>(d)</sup> | 6.75% | 06/01/2034 | 156831 |
|  | 300000 | NGD Holdings BV | 6.75% | 12/31/2026 | 141300 |
|  | 290000 | NXP BV / NXP Funding LLC / NXP USA, Inc. | 3.88% | 06/18/2026 | 275857 |
|  | 200000 | Petrobras Global Finance BV | 6.75% | 06/03/2050 | 174898 |
|  | 410000 | Petrobras Global Finance BV | 5.50% | 06/10/2051 | 314908 |
|  |  |  |  |  | 3362488 |
| ***Panama - 0.07%*** | ***Panama - 0.07%*** | ***Panama - 0.07%*** | ***Panama - 0.07%*** | ***Panama - 0.07%*** | ***Panama - 0.07%*** |
|  | 200000 | Empresa de Transmision Electrica SA<sup>(d)</sup> | 5.13% | 05/02/2049 | 162213 |
|  | 646295 | UEP Penonome II SA<sup>(c)</sup> | 6.50% | 10/01/2038 | 479066 |
|  | 184656 | UEP Penonome II SA<sup>(d)</sup> | 6.50% | 10/01/2038 | 136876 |
|  |  |  |  |  | 778155 |
| ***Paraguay - 0.05%*** | ***Paraguay - 0.05%*** | ***Paraguay - 0.05%*** | ***Paraguay - 0.05%*** | ***Paraguay - 0.05%*** | ***Paraguay - 0.05%*** |
|  | 800000 | Frigorifico Concepcion SA<sup>(c)</sup> | 7.70% | 07/21/2028 | 647036 |
| ***Peru - 0.16%*** | ***Peru - 0.16%*** | ***Peru - 0.16%*** | ***Peru - 0.16%*** | ***Peru - 0.16%*** | ***Peru - 0.16%*** |
|  | 200000 | Banco Internacional del Peru SAA Interbank<sup>(e)</sup> | 1Y US TI + 3.71% | 07/08/2030 | 180755 |
|  | 300000 | Camposol SA<sup>(c)</sup> | 6.00% | 02/03/2027 | 199224 |
|  | 400000 | Camposol SA<sup>(d)</sup> | 6.00% | 02/03/2027 | 265632 |
|  | 200000 | Petroleos del Peru SA<sup>(d)</sup> | 4.75% | 06/19/2032 | 154940 |
|  | 1350000 | Petroleos del Peru SA<sup>(d)</sup> | 5.63% | 06/19/2047 | 885364 |
|  | 200000 | Scotiabank Peru SAA<sup>(e)</sup> | 3M US L + 3.856% | 12/13/2027 | 197683 |
|  |  |  |  |  | 1883598 |
| ***Singapore - 0.11%*** | ***Singapore - 0.11%*** | ***Singapore - 0.11%*** | ***Singapore - 0.11%*** | ***Singapore - 0.11%*** | ***Singapore - 0.11%*** |
|  | 515000 | BOC Aviation, Ltd.<sup>(c)(e)</sup> | 3M US L + 1.13% | 09/26/2023 | 514373 |
|  | 350000 | Temasek Financial I, Ltd.<sup>(c)</sup> | 1.00% | 10/06/2030 | 270486 |
|  | 250000 | Temasek Financial I, Ltd.<sup>(d)</sup> | 1.00% | 10/06/2030 | 193205 |
|  | 500000 | Theta Capital Pte, Ltd. | 6.75% | 10/31/2026 | 325100 |
|  |  |  |  |  | 1303164 |
| ***South Korea - 0.03%*** | ***South Korea - 0.03%*** | ***South Korea - 0.03%*** | ***South Korea - 0.03%*** | ***South Korea - 0.03%*** | ***South Korea - 0.03%*** |
|  | 200000 | LG Chem, Ltd.<sup>(c)</sup> | 2.38% | 07/07/2031 | 157604 |
|  | 200000 | Shinhan Financial Group Co., Ltd.<sup>(c)(e)(g)</sup> | 5Y US TI + 2.06% | Perpetual Maturity | 171950 |
|  |  |  |  |  | 329554 |
| ***Spain - 0.13%*** | ***Spain - 0.13%*** | ***Spain - 0.13%*** | ***Spain - 0.13%*** | ***Spain - 0.13%*** | ***Spain - 0.13%*** |
|  | 200000 | AES Andres BV<sup>(c)</sup> | 5.70% | 05/04/2028 | 173704 |
|  | 250000 | AI Candelaria Spain SA<sup>(c)</sup> | 5.75% | 06/15/2033 | 190520 |
|  | 1050000 | AI Candelaria Spain SA<sup>(d)</sup> | 5.75% | 06/15/2033 | 800184 |
|  | 600000 | EnfraGen Energia Sur SA / EnfraGen Spain SA / Prime Energia SpA<sup>(d)</sup> | 5.38% | 12/30/2030 | 420875 |
|  |  |  |  |  | 1585283 |
| ***United Arab Emirates - 0.04%*** | ***United Arab Emirates - 0.04%*** | ***United Arab Emirates - 0.04%*** | ***United Arab Emirates - 0.04%*** | ***United Arab Emirates - 0.04%*** | ***United Arab Emirates - 0.04%*** |
|  | 277398 | Galaxy Pipeline Assets Bidco, Ltd.<sup>(c)</sup> | 2.16% | 03/31/2034 | 236712 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Principal Amount/Description** | **Principal Amount/Description** | **Principal Amount/Description** | **Rate** | **Maturity** | **Value** |
| $| 289959 | Galaxy Pipeline Assets Bidco, Ltd.<sup>(d)</sup> | 2.94% | 09/30/2040 | 234159 |
|  |  |  |  |  | 470871 |
| ***Vietnam - 0.04%*** | ***Vietnam - 0.04%*** | ***Vietnam - 0.04%*** | ***Vietnam - 0.04%*** | ***Vietnam - 0.04%*** | ***Vietnam - 0.04%*** |
|  | 500000 | Mong Duong Finance Holdings BV<sup>(d)</sup> | 5.13% | 05/07/2029 | 416914 |
| TOTAL FOREIGN CORPORATE BONDS | TOTAL FOREIGN CORPORATE BONDS | TOTAL FOREIGN CORPORATE BONDS | TOTAL FOREIGN CORPORATE BONDS | TOTAL FOREIGN CORPORATE BONDS | TOTAL FOREIGN CORPORATE BONDS |
|  | (Cost $70,256,704) |  |  |  | 53454288 |
| **U.S. CORPORATE BONDS - 7.53%** | **U.S. CORPORATE BONDS - 7.53%** | **U.S. CORPORATE BONDS - 7.53%** | **U.S. CORPORATE BONDS - 7.53%** | **U.S. CORPORATE BONDS - 7.53%** | **U.S. CORPORATE BONDS - 7.53%** |
| ***Advertising - 0.02%*** | ***Advertising - 0.02%*** | ***Advertising - 0.02%*** | ***Advertising - 0.02%*** | ***Advertising - 0.02%*** | ***Advertising - 0.02%*** |
|  | 105000 | Clear Channel Outdoor Holdings, Inc.<sup>(c)</sup> | 7.50% | 06/01/2029 | 77295 |
|  | 225000 | Interpublic Group of Cos., Inc. | 5.40% | 10/01/2048 | 206745 |
|  |  |  |  |  | 284040 |
| ***Aerospace/Defense - 0.19%*** | ***Aerospace/Defense - 0.19%*** | ***Aerospace/Defense - 0.19%*** | ***Aerospace/Defense - 0.19%*** | ***Aerospace/Defense - 0.19%*** | ***Aerospace/Defense - 0.19%*** |
|  | 330000 | Boeing Co. | 2.95% | 02/01/2030 | 280208 |
|  | 215000 | Boeing Co. | 3.75% | 02/01/2050 | 148512 |
|  | 425000 | Northrop Grumman Corp. | 5.15% | 05/01/2040 | 415023 |
|  | 390000 | Raytheon Technologies Corp. | 3.03% | 03/15/2052 | 266266 |
|  | 380000 | TransDigm, Inc. | 5.50% | 11/15/2027 | 357611 |
|  | 585000 | Triumph Group, Inc.<sup>(c)</sup> | 6.25% | 09/15/2024 | 555475 |
|  | 280000 | Triumph Group, Inc. | 7.75% | 08/15/2025 | 238608 |
|  |  |  |  |  | 2261703 |
| ***Agriculture - 0.07%*** | ***Agriculture - 0.07%*** | ***Agriculture - 0.07%*** | ***Agriculture - 0.07%*** | ***Agriculture - 0.07%*** | ***Agriculture - 0.07%*** |
|  | 660000 | BAT Capital Corp. | 3.46% | 09/06/2029 | 568665 |
|  | 321693 | Pyxus Holdings, Inc. | 10.00% | 08/24/2024 | 254942 |
|  |  |  |  |  | 823607 |
| ***Airlines - 0.04%*** | ***Airlines - 0.04%*** | ***Airlines - 0.04%*** | ***Airlines - 0.04%*** | ***Airlines - 0.04%*** | ***Airlines - 0.04%*** |
|  | 330000 | American Airlines, Inc./AAdvantage Loyalty IP, Ltd.<sup>(c)</sup> | 5.75% | 04/20/2029 | 302201 |
|  | 184375 | United Airlines 2016-1 Class B Pass Through Trust | 3.65% | 01/07/2026 | 165728 |
|  |  |  |  |  | 467929 |
| ***Auto Manufacturers - 0.15%*** | ***Auto Manufacturers - 0.15%*** | ***Auto Manufacturers - 0.15%*** | ***Auto Manufacturers - 0.15%*** | ***Auto Manufacturers - 0.15%*** | ***Auto Manufacturers - 0.15%*** |
|  | 315000 | Ford Motor Co. | 3.25% | 02/12/2032 | 236792 |
|  | 375000 | General Motors Financial Co., Inc. | 2.40% | 10/15/2028 | 311633 |
|  | 360000 | General Motors Financial Co., Inc. | 3.10% | 01/12/2032 | 282963 |
|  | 600000 | Hyundai Capital America<sup>(c)</sup> | 2.65% | 02/10/2025 | 564748 |
|  | 25000 | Hyundai Capital America<sup>(c)</sup> | 1.80% | 10/15/2025 | 22510 |
|  | 355000 | Volkswagen Group of America Finance LLC<sup>(c)</sup> | 4.25% | 11/13/2023 | 351649 |
|  |  |  |  |  | 1770295 |
| ***Auto Parts & Equipment - 0.14%*** | ***Auto Parts & Equipment - 0.14%*** | ***Auto Parts & Equipment - 0.14%*** | ***Auto Parts & Equipment - 0.14%*** | ***Auto Parts & Equipment - 0.14%*** | ***Auto Parts & Equipment - 0.14%*** |
|  | 115000 | American Axle & Manufacturing, Inc. | 5.00% | 10/01/2029 | 92871 |
|  | 1115000 | Dealer Tire LLC / DT Issuer LLC<sup>(c)</sup> | 8.00% | 02/01/2028 | 982820 |
|  | 150000 | Goodyear Tire & Rubber Co. | 5.25% | 07/15/2031 | 122886 |
|  | 1179000 | Wheel Pros, Inc.<sup>(c)</sup> | 6.50% | 05/15/2029 | 418545 |
|  |  |  |  |  | 1617122 |
| ***Banks - 0.53%*** | ***Banks - 0.53%*** | ***Banks - 0.53%*** | ***Banks - 0.53%*** | ***Banks - 0.53%*** | ***Banks - 0.53%*** |
|  | 175000 | Bank of America Corp.<sup>(e)</sup> | 1D US SOFR + 1.11% | 04/25/2025 | 170946 |
|  | 230000 | Bank of America Corp.<sup>(e)</sup> | 1D US SOFR + 1.75% | 07/22/2026 | 227537 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Principal Amount/Description** | **Principal Amount/Description** | **Principal Amount/Description** | **Rate** | **Maturity** | **Value** |
| $| 270000 | Bank of America Corp.<sup>(e)</sup> | 1D US SOFR + 1.21% | 10/20/2032 | 212134 |
|  | 680000 | Bank of America Corp.<sup>(e)</sup> | 5Y US TI + 2.48% | 09/21/2036 | 501199 |
|  | 635000 | Citigroup, Inc.<sup>(e)</sup> | 3M US L + 1.10% | 05/17/2024 | 636037 |
|  | 120000 | Citigroup, Inc.<sup>(e)</sup> | 1D US SOFR + 0.694% | 01/25/2026 | 111304 |
|  | 120000 | Citigroup, Inc.<sup>(e)</sup> | 1D US SOFR + 1.28% | 02/24/2028 | 108355 |
|  | 685000 | Goldman Sachs Group, Inc.<sup>(e)</sup> | 3M US L + 1.17% | 05/15/2026 | 680698 |
|  | 230000 | Goldman Sachs Group, Inc.<sup>(e)</sup> | 1D US SOFR + 0.82% | 09/10/2027 | 218878 |
|  | 210000 | JPMorgan Chase & Co.<sup>(e)</sup> | 1D US SOFR + 0.915% | 02/24/2026 | 197602 |
|  | 85000 | JPMorgan Chase & Co.<sup>(e)</sup> | 1D US SOFR + 1.99% | 07/25/2028 | 82996 |
|  | 295000 | JPMorgan Chase & Co.<sup>(e)</sup> | 1D SOFR + 1.02% | 06/01/2029 | 246893 |
|  | 415000 | JPMorgan Chase & Co.<sup>(e)</sup> | 1D US SOFR + 2.04% | 04/22/2031 | 340506 |
|  | 360000 | JPMorgan Chase & Co.<sup>(e)</sup> | 1D US SOFR + 1.25% | 04/22/2032 | 289244 |
|  | 345000 | JPMorgan Chase & Co.<sup>(e)</sup> | 1D US SOFR + 1.26% | 01/25/2033 | 281695 |
|  | 240000 | Morgan Stanley<sup>(e)</sup> | 1D US SOFR + 1.669% | 07/17/2026 | 236118 |
|  | 260000 | Morgan Stanley<sup>(e)</sup> | 1D US SOFR + 1.61% | 04/20/2028 | 247683 |
|  | 95000 | Morgan Stanley<sup>(e)</sup> | 1D US SOFR + 1.29% | 01/21/2033 | 77099 |
|  | 705000 | Morgan Stanley<sup>(e)</sup> | 1D SOFR + 2.48% | 09/16/2036 | 512810 |
|  | 135000 | Santander Holdings USA, Inc.<sup>(e)</sup> | 1D US SOFR + 1.249% | 01/06/2028 | 116007 |
|  | 295000 | Wells Fargo & Co.<sup>(e)</sup> | 3M US L + 1.17% | 06/17/2027 | 274000 |
|  | 275000 | Wells Fargo & Co.<sup>(e)</sup> | 1D US SOFR + 1.98% | 07/25/2028 | 269044 |
|  | 290000 | Wells Fargo & Co.<sup>(e)</sup> | 1D US SOFR + 1.43% | 10/30/2030 | 246947 |
|  |  |  |  |  | 6285732 |
| ***Beverages - 0.11%*** | ***Beverages - 0.11%*** | ***Beverages - 0.11%*** | ***Beverages - 0.11%*** | ***Beverages - 0.11%*** | ***Beverages - 0.11%*** |
|  | 545000 | Anheuser-Busch InBev Worldwide, Inc. | 4.60% | 04/15/2048 | 476365 |
|  | 50000 | Constellation Brands, Inc. | 3.15% | 08/01/2029 | 43924 |
|  | 290000 | Constellation Brands, Inc. | 2.88% | 05/01/2030 | 247528 |
|  | 170000 | PepsiCo, Inc. | 3.60% | 02/18/2028 | 163076 |
|  | 490000 | Triton Water Holdings, Inc.<sup>(c)</sup> | 6.25% | 04/01/2029 | 393685 |
|  |  |  |  |  | 1324578 |
| ***Biotechnology - 0.04%*** | ***Biotechnology - 0.04%*** | ***Biotechnology - 0.04%*** | ***Biotechnology - 0.04%*** | ***Biotechnology - 0.04%*** | ***Biotechnology - 0.04%*** |
|  | 190000 | Illumina, Inc. | 0.55% | 03/23/2023 | 188069 |
|  | 395000 | Royalty Pharma PLC | 3.30% | 09/02/2040 | 275537 |
|  |  |  |  |  | 463606 |
| ***Building Materials - 0.08%*** | ***Building Materials - 0.08%*** | ***Building Materials - 0.08%*** | ***Building Materials - 0.08%*** | ***Building Materials - 0.08%*** | ***Building Materials - 0.08%*** |
|  | 130000 | Builders FirstSource, Inc.<sup>(c)</sup> | 6.38% | 06/15/2032 | 122278 |
|  | 550000 | Carrier Global Corp. | 3.38% | 04/05/2040 | 419561 |
|  | 130000 | Griffon Corp. | 5.75% | 03/01/2028 | 119152 |
|  | 315000 | Owens Corning | 4.40% | 01/30/2048 | 245422 |
|  |  |  |  |  | 906413 |
| ***Chemicals - 0.16%*** | ***Chemicals - 0.16%*** | ***Chemicals - 0.16%*** | ***Chemicals - 0.16%*** | ***Chemicals - 0.16%*** | ***Chemicals - 0.16%*** |
|  | 455000 | ASP Unifrax Holdings, Inc.<sup>(c)</sup> | 7.50% | 09/30/2029 | 289380 |
|  | 310000 | CF Industries, Inc. | 5.38% | 03/15/2044 | 279915 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Principal Amount/Description** | **Principal Amount/Description** | **Principal Amount/Description** | **Rate** | **Maturity** | **Value** |
| $| 780000 | Illuminate Buyer LLC / Illuminate Holdings IV, Inc.<sup>(c)</sup> | 9.00% | 07/01/2028 | 654304 |
|  | 200000 | Sasol Financing USA LLC | 5.50% | 03/18/2031 | 163105 |
|  | 500000 | Vibrantz Technologies, Inc.<sup>(c)</sup> | 9.00% | 02/15/2030 | 377981 |
|  | 125000 | WR Grace Holdings LLC<sup>(c)</sup> | 5.63% | 08/15/2029 | 101221 |
|  |  |  |  |  | 1865906 |
| ***Coal - 0.01%*** | ***Coal - 0.01%*** | ***Coal - 0.01%*** | ***Coal - 0.01%*** | ***Coal - 0.01%*** | ***Coal - 0.01%*** |
|  | 180000 | SunCoke Energy, Inc.<sup>(c)</sup> | 4.88% | 06/30/2029 | 154744 |
| ***Commercial Services - 0.12%*** | ***Commercial Services - 0.12%*** | ***Commercial Services - 0.12%*** | ***Commercial Services - 0.12%*** | ***Commercial Services - 0.12%*** | ***Commercial Services - 0.12%*** |
|  | 90000 | Allied Universal Holdco LLC / Allied Universal Finance Corp.<sup>(c)</sup> | 6.63% | 07/15/2026 | 82536 |
|  | 175000 | Allied Universal Holdco LLC / Allied Universal Finance Corp.<sup>(c)</sup> | 9.75% | 07/15/2027 | 152626 |
|  | 300000 | Global Payments, Inc. | 4.95% | 08/15/2027 | 291494 |
|  | 200000 | Metis Merger Sub LLC<sup>(c)</sup> | 6.50% | 05/15/2029 | 168157 |
|  | 410000 | PECF USS Intermediate Holding III Corp.<sup>(c)</sup> | 8.00% | 11/15/2029 | 266906 |
|  | 125000 | Triton Container International, Ltd.<sup>(c)</sup> | 1.15% | 06/07/2024 | 115668 |
|  | 235000 | Triton Container International, Ltd. / TAL International Container Corp. | 3.25% | 03/15/2032 | 181771 |
|  | 170000 | WASH Multifamily Acquisition, Inc.<sup>(c)</sup> | 5.75% | 04/15/2026 | 160421 |
|  |  |  |  |  | 1419579 |
| ***Computers - 0.10%*** | ***Computers - 0.10%*** | ***Computers - 0.10%*** | ***Computers - 0.10%*** | ***Computers - 0.10%*** | ***Computers - 0.10%*** |
|  | 330000 | Fortinet, Inc. | 1.00% | 03/15/2026 | 289245 |
|  | 340000 | NetApp, Inc. | 1.88% | 06/22/2025 | 312587 |
|  | 700000 | Virtusa Corp.<sup>(c)</sup> | 7.13% | 12/15/2028 | 534466 |
|  |  |  |  |  | 1136298 |
| ***Containers and Packaging - 0.02%*** | ***Containers and Packaging - 0.02%*** | ***Containers and Packaging - 0.02%*** | ***Containers and Packaging - 0.02%*** | ***Containers and Packaging - 0.02%*** | ***Containers and Packaging - 0.02%*** |
|  | 300000 | Packaging Corp. of America | 3.40% | 12/15/2027 | 275938 |
| ***Cosmetics/Personal Care - 0.01%*** | ***Cosmetics/Personal Care - 0.01%*** | ***Cosmetics/Personal Care - 0.01%*** | ***Cosmetics/Personal Care - 0.01%*** | ***Cosmetics/Personal Care - 0.01%*** | ***Cosmetics/Personal Care - 0.01%*** |
|  | 125000 | Coty, Inc.<sup>(c)</sup> | 6.50% | 04/15/2026 | 120194 |
| ***Distribution/Wholesale - 0.01%*** | ***Distribution/Wholesale - 0.01%*** | ***Distribution/Wholesale - 0.01%*** | ***Distribution/Wholesale - 0.01%*** | ***Distribution/Wholesale - 0.01%*** | ***Distribution/Wholesale - 0.01%*** |
|  | 180000 | BCPE Empire Holdings, Inc.<sup>(c)</sup> | 7.63% | 05/01/2027 | 161645 |
| ***Diversified Financial Services - 0.31%*** | ***Diversified Financial Services - 0.31%*** | ***Diversified Financial Services - 0.31%*** | ***Diversified Financial Services - 0.31%*** | ***Diversified Financial Services - 0.31%*** | ***Diversified Financial Services - 0.31%*** |
|  | 195000 | Air Lease Corp. | 1.88% | 08/15/2026 | 169605 |
|  | 835000 | Air Methods Corp.<sup>(c)</sup> | 8.00% | 05/15/2025 | 45537 |
|  | 550000 | American Express Co. | 3.95% | 08/01/2025 | 539345 |
|  | 460000 | Aviation Capital Group LLC<sup>(c)</sup> | 1.95% | 09/20/2026 | 390259 |
|  | 150000 | Capital One Financial Corp.<sup>(e)</sup> | 1D US SOFR + 2.16% | 07/24/2026 | 147056 |
|  | 710000 | Discover Financial Services | 4.10% | 02/09/2027 | 669139 |
|  | 95000 | Nasdaq, Inc. | 3.95% | 03/07/2052 | 72643 |
|  | 270000 | Nationstar Mortgage Holdings, Inc.<sup>(c)</sup> | 5.75% | 11/15/2031 | 210276 |
|  | 95000 | Navient Corp. | 5.00% | 03/15/2027 | 83331 |
|  | 170000 | OneMain Finance Corp. | 6.63% | 01/15/2028 | 156839 |
|  | 215000 | PennyMac Financial Services, Inc.<sup>(c)</sup> | 4.25% | 02/15/2029 | 167996 |
|  | 510000 | Synchrony Financial | 3.95% | 12/01/2027 | 455668 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Principal Amount/Description** | **Principal Amount/Description** | **Principal Amount/Description** | **Rate** | **Maturity** | **Value** |
| $| 675000 | Western Union Co. | 2.75% | 03/15/2031 | 512618 |
|  |  |  |  |  | 3620312 |
| ***Electric - 0.51%*** | ***Electric - 0.51%*** | ***Electric - 0.51%*** | ***Electric - 0.51%*** | ***Electric - 0.51%*** | ***Electric - 0.51%*** |
|  | 340000 | Berkshire Hathaway Energy Co.<sup>(c)</sup> | 4.60% | 05/01/2053 | 297109 |
|  | 155000 | Calpine Corp.<sup>(c)</sup> | 5.13% | 03/15/2028 | 138621 |
|  | 290000 | DTE Energy Co.<sup>(j)</sup> | 4.22% | 11/01/2024 | 285264 |
|  | 80000 | Duke Energy Carolinas LLC | 2.85% | 03/15/2032 | 67917 |
|  | 205000 | Duke Energy Corp. | 4.30% | 03/15/2028 | 197634 |
|  | 500000 | Duke Energy Corp. | 3.95% | 08/15/2047 | 379751 |
|  | 180000 | Entergy Corp. | 2.80% | 06/15/2030 | 152450 |
|  | 1000000 | Exelon Corp. | 4.05% | 04/15/2030 | 930796 |
|  | 130000 | Exelon Corp.<sup>(c)</sup> | 4.10% | 03/15/2052 | 104569 |
|  | 355000 | Georgia Power Co. | 2.20% | 09/15/2024 | 338769 |
|  | 705000 | Georgia Power Co. | 3.25% | 03/15/2051 | 488434 |
|  | 225000 | Monongahela Power Co.<sup>(c)</sup> | 5.40% | 12/15/2043 | 217853 |
|  | 110000 | National Rural Utilities Cooperative Finance Corp. | 5.45% | 10/30/2025 | 111434 |
|  | 275000 | NextEra Energy Capital Holdings, Inc. | 4.26% | 09/01/2024 | 271447 |
|  | 750000 | NextEra Energy Capital Holdings, Inc. | 2.25% | 06/01/2030 | 618470 |
|  | 215000 | NRG Energy, Inc.<sup>(c)</sup> | 2.00% | 12/02/2025 | 191990 |
|  | 215000 | NRG Energy, Inc.<sup>(c)</sup> | 3.63% | 02/15/2031 | 163835 |
|  | 400000 | Pacific Gas and Electric Co. | 2.50% | 02/01/2031 | 311267 |
|  | 320000 | Pike Corp.<sup>(c)</sup> | 5.50% | 09/01/2028 | 280278 |
|  | 275000 | Southern Co.<sup>(e)</sup> | 5Y US TI + 2.915% | 09/15/2051 | 222737 |
|  | 225000 | Southwestern Electric Power Co. | 3.25% | 11/01/2051 | 148902 |
|  | 110000 | Virginia Electric and Power Co. | 3.75% | 05/15/2027 | 105150 |
|  |  |  |  |  | 6024677 |
| ***Electrical Components & Equipment - 0.01%*** | ***Electrical Components & Equipment - 0.01%*** | ***Electrical Components & Equipment - 0.01%*** | ***Electrical Components & Equipment - 0.01%*** | ***Electrical Components & Equipment - 0.01%*** | ***Electrical Components & Equipment - 0.01%*** |
|  | 115000 | Energizer Holdings, Inc.<sup>(c)</sup> | 4.75% | 06/15/2028 | 99843 |
| ***Electronics - 0.02%*** | ***Electronics - 0.02%*** | ***Electronics - 0.02%*** | ***Electronics - 0.02%*** | ***Electronics - 0.02%*** | ***Electronics - 0.02%*** |
|  | 260000 | Arrow Electronics, Inc. | 3.88% | 01/12/2028 | 236648 |
| ***Engineering & Construction - 0.02%*** | ***Engineering & Construction - 0.02%*** | ***Engineering & Construction - 0.02%*** | ***Engineering & Construction - 0.02%*** | ***Engineering & Construction - 0.02%*** | ***Engineering & Construction - 0.02%*** |
|  | 265000 | Artera Services LLC<sup>(c)</sup> | 9.03% | 12/04/2025 | 221188 |
| ***Entertainment - 0.16%*** | ***Entertainment - 0.16%*** | ***Entertainment - 0.16%*** | ***Entertainment - 0.16%*** | ***Entertainment - 0.16%*** | ***Entertainment - 0.16%*** |
|  | 135000 | Lions Gate Capital Holdings LLC<sup>(c)</sup> | 5.50% | 04/15/2029 | 78448 |
|  | 270000 | Midwest Gaming Borrower LLC / Midwest Gaming Finance Corp.<sup>(c)</sup> | 4.88% | 05/01/2029 | 230084 |
|  | 550000 | Premier Entertainment Sub LLC / Premier Entertainment Finance Corp.<sup>(c)</sup> | 5.63% | 09/01/2029 | 406285 |
|  | 350000 | Premier Entertainment Sub LLC / Premier Entertainment Finance Corp.<sup>(c)</sup> | 5.88% | 09/01/2031 | 248045 |
|  | 265000 | Scientific Games Holdings LP/Scientific Games US FinCo, Inc.<sup>(c)</sup> | 6.63% | 03/01/2030 | 224190 |
|  | 135000 | Scientific Games International, Inc.<sup>(c)</sup> | 7.25% | 11/15/2029 | 129843 |
|  | 335000 | Warnermedia Holdings, Inc.<sup>(c)</sup> | 3.76% | 03/15/2027 | 302154 |
|  | 320000 | Warnermedia Holdings, Inc.<sup>(c)</sup> | 4.05% | 03/15/2029 | 277453 |
|  |  |  |  |  | 1896502 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal Amount/Description** | **Principal Amount/Description** | **Rate** | **Maturity** | **Value** |
| ***Environmental Control - 0.01%*** | ***Environmental Control - 0.01%*** | ***Environmental Control - 0.01%*** | ***Environmental Control - 0.01%*** | ***Environmental Control - 0.01%*** |
| $180000 | Madison IAQ LLC<sup>(c)</sup> | 4.13% | 06/30/2028 | $150750 |
| ***Food - 0.11%*** | ***Food - 0.11%*** | ***Food - 0.11%*** | ***Food - 0.11%*** | ***Food - 0.11%*** |
| 140000 | Performance Food Group, Inc.<sup>(c)</sup> | 4.25% | 08/01/2029 | 121492 |
| 31000 | Post Holdings, Inc.<sup>(c)</sup> | 4.63% | 04/15/2030 | 26810 |
| 669000 | Smithfield Foods, Inc.<sup>(c)</sup> | 4.25% | 02/01/2027 | 617021 |
| 480000 | Sysco Corp. | 3.30% | 02/15/2050 | 331224 |
| 270000 | United Natural Foods, Inc.<sup>(c)</sup> | 6.75% | 10/15/2028 | 259856 |
|  |  |  |  | 1356403 |
| ***Food Service - 0.03%*** | ***Food Service - 0.03%*** | ***Food Service - 0.03%*** | ***Food Service - 0.03%*** | ***Food Service - 0.03%*** |
| 585000 | TKC Holdings, Inc.<sup>(c)</sup> | 10.50% | 05/15/2029 | 328589 |
| ***Healthcare-Products - 0.02%*** | ***Healthcare-Products - 0.02%*** | ***Healthcare-Products - 0.02%*** | ***Healthcare-Products - 0.02%*** | ***Healthcare-Products - 0.02%*** |
| 255000 | Medline Borrower LP<sup>(c)</sup> | 5.25% | 10/01/2029 | 202994 |
| ***Healthcare-Services - 0.24%*** | ***Healthcare-Services - 0.24%*** | ***Healthcare-Services - 0.24%*** | ***Healthcare-Services - 0.24%*** | ***Healthcare-Services - 0.24%*** |
| 490000 | Centene Corp. | 2.50% | 03/01/2031 | 384355 |
| 150000 | CHS/Community Health Systems, Inc.<sup>(c)</sup> | 6.00% | 01/15/2029 | 125667 |
| 570000 | CHS/Community Health Systems, Inc.<sup>(c)</sup> | 6.88% | 04/15/2029 | 294025 |
| 275000 | Elevance Health, Inc. | 2.38% | 01/15/2025 | 261259 |
| 85000 | Elevance Health, Inc. | 4.55% | 05/15/2052 | 74305 |
| 310000 | HCA, Inc. | 4.13% | 06/15/2029 | 283650 |
| 220000 | Health Care Service Corp. A Mutual Legal Reserve Co.<sup>(c)</sup> | 3.20% | 06/01/2050 | 151654 |
| 85000 | Legacy LifePoint Health LLC<sup>(c)</sup> | 6.75% | 04/15/2025 | 80127 |
| 205000 | Legacy LifePoint Health LLC<sup>(c)</sup> | 4.38% | 02/15/2027 | 173717 |
| 75000 | ModivCare Escrow Issuer, Inc.<sup>(c)</sup> | 5.00% | 10/01/2029 | 63345 |
| 780000 | Radiology Partners, Inc.<sup>(c)</sup> | 9.25% | 02/01/2028 | 439088 |
| 145000 | RP Escrow Issuer LLC<sup>(c)</sup> | 5.25% | 12/15/2025 | 110911 |
| 100000 | Tenet Healthcare Corp.<sup>(c)</sup> | 6.25% | 02/01/2027 | 96254 |
| 220000 | Tenet Healthcare Corp.<sup>(c)</sup> | 6.13% | 06/15/2030 | 210002 |
| 105000 | UnitedHealth Group, Inc. | 4.95% | 05/15/2062 | 98952 |
|  |  |  |  | 2847311 |
| ***Housewares - 0.04%*** | ***Housewares - 0.04%*** | ***Housewares - 0.04%*** | ***Housewares - 0.04%*** | ***Housewares - 0.04%*** |
| 830000 | SWF Escrow Issuer Corp.<sup>(c)</sup> | 6.50% | 10/01/2029 | 482022 |
| ***Insurance - 0.22%*** | ***Insurance - 0.22%*** | ***Insurance - 0.22%*** | ***Insurance - 0.22%*** | ***Insurance - 0.22%*** |
| 130000 | Alliant Holdings Intermediate LLC / Alliant Holdings Co.-Issuer<sup>(c)</sup> | 6.75% | 10/15/2027 | 117131 |
| 185000 | AmWINS Group, Inc.<sup>(c)</sup> | 4.88% | 06/30/2029 | 157148 |
| 605000 | Athene Global Funding<sup>(c)(e)</sup> | SOFRINDX + 0.56% | 08/19/2024 | 590350 |
| 230000 | Berkshire Hathaway Finance Corp. | 2.85% | 10/15/2050 | 154694 |
| 130000 | Berkshire Hathaway Finance Corp. | 3.85% | 03/15/2052 | 104308 |
| 150000 | Brighthouse Financial Global Funding<sup>(c)</sup> | 1.00% | 04/12/2024 | 141319 |
| 185000 | Brighthouse Financial Global Funding<sup>(c)</sup> | 2.00% | 06/28/2028 | 152883 |
| 215000 | GTCR AP Finance, Inc.<sup>(c)</sup> | 8.00% | 05/15/2027 | 206284 |
| 310000 | Massachusetts Mutual Life Insurance Co.<sup>(c)</sup> | 3.20% | 12/01/2061 | 190830 |
| 290000 | Prudential Financial, Inc. | 3.91% | 12/07/2047 | 232345 |
| 540000 | Willis North America, Inc. | 4.50% | 09/15/2028 | 509935 |
|  |  |  |  | 2557227 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal Amount/Description** | **Principal Amount/Description** | **Rate** | **Maturity** | **Value** |
| ***Internet - 0.14%*** | ***Internet - 0.14%*** | ***Internet - 0.14%*** | ***Internet - 0.14%*** | ***Internet - 0.14%*** |
| $1490000 | Endurance International Group Holdings, Inc.<sup>(c)</sup> | 6.00% | 02/15/2029 | $1026163 |
| 150000 | Expedia Group, Inc. | 5.00% | 02/15/2026 | 148196 |
| 275000 | Expedia Group, Inc. | 3.80% | 02/15/2028 | 252929 |
| 55000 | Expedia Group, Inc. | 3.25% | 02/15/2030 | 46776 |
| 58000 | Expedia Group, Inc. | 2.95% | 03/15/2031 | 46776 |
| 135000 | Uber Technologies, Inc.<sup>(c)</sup> | 4.50% | 08/15/2029 | 117873 |
|  |  |  |  | 1638713 |
| ***Investment Companies - 1.05%*** | ***Investment Companies - 1.05%*** | ***Investment Companies - 1.05%*** | ***Investment Companies - 1.05%*** | ***Investment Companies - 1.05%*** |
| 1555000 | Ares Capital Corp. | 3.50% | 02/10/2023 | 1551697 |
| 5000000 | Franklin BSP Lending Corp.<sup>(c)</sup> | 5.38% | 05/30/2023 | 4951884 |
| 180000 | Icahn Enterprises LP / Icahn Enterprises Finance Corp. | 5.25% | 05/15/2027 | 165204 |
| 844 | OWL Rock Core Income Corp.<sup>(c)</sup> | 5.50% | 03/21/2025 | 819 |
| 3961000 | OWL Rock Core Income Corp. | 5.50% | 03/21/2025 | 3843087 |
| 2000000 | OWL Rock Core Income Corp. | 4.70% | 02/08/2027 | 1806146 |
|  |  |  |  | 12318837 |
| ***Leisure Time - 0.09%*** | ***Leisure Time - 0.09%*** | ***Leisure Time - 0.09%*** | ***Leisure Time - 0.09%*** | ***Leisure Time - 0.09%*** |
| 405000 | Carnival Corp.<sup>(c)</sup> | 7.63% | 03/01/2026 | 321718 |
| 430000 | Carnival Corp.<sup>(c)</sup> | 5.75% | 03/01/2027 | 307781 |
| 140000 | NCL Corp., Ltd.<sup>(c)</sup> | 5.88% | 02/15/2027 | 121444 |
| 340000 | Viking Cruises, Ltd.<sup>(c)</sup> | 5.88% | 09/15/2027 | 277693 |
|  |  |  |  | 1028636 |
| ***Lodging - 0.05%*** | ***Lodging - 0.05%*** | ***Lodging - 0.05%*** | ***Lodging - 0.05%*** | ***Lodging - 0.05%*** |
| 345000 | Marriott International, Inc. | 3.13% | 06/15/2026 | 323399 |
| 360000 | Marriott International, Inc. | 2.75% | 10/15/2033 | 275669 |
|  |  |  |  | 599068 |
| ***Machinery-Diversified - 0.02%*** | ***Machinery-Diversified - 0.02%*** | ***Machinery-Diversified - 0.02%*** | ***Machinery-Diversified - 0.02%*** | ***Machinery-Diversified - 0.02%*** |
| 370000 | Flowserve Corp. | 2.80% | 01/15/2032 | 278028 |
| ***Media - 0.27%*** | ***Media - 0.27%*** | ***Media - 0.27%*** | ***Media - 0.27%*** | ***Media - 0.27%*** |
| 140000 | CCO Holdings LLC / CCO Holdings Capital Corp.<sup>(c)</sup> | 4.75% | 02/01/2032 | 113784 |
| 135000 | CCO Holdings LLC / CCO Holdings Capital Corp.<sup>(c)</sup> | 4.25% | 01/15/2034 | 99900 |
| 835000 | Cengage Learning, Inc.<sup>(c)</sup> | 9.50% | 06/15/2024 | 797621 |
| 270000 | Charter Communications Operating LLC / Charter Communications Operating Capital | 4.91% | 07/23/2025 | 264888 |
| 320000 | Charter Communications Operating LLC / Charter Communications Operating Capital | 3.50% | 03/01/2042 | 206091 |
| 185000 | Comcast Corp. | 3.95% | 10/15/2025 | 181370 |
| 335000 | Comcast Corp. | 3.40% | 04/01/2030 | 306270 |
| 120000 | Directv Financing LLC / Directv Financing Co.-Obligor, Inc.<sup>(c)</sup> | 5.88% | 08/15/2027 | 107587 |
| 145000 | DISH DBS Corp.<sup>(c)</sup> | 5.75% | 12/01/2028 | 116000 |
| 130000 | GCI LLC<sup>(c)</sup> | 4.75% | 10/15/2028 | 109423 |
| 700000 | McGraw-Hill Education, Inc.<sup>(c)</sup> | 5.75% | 08/01/2028 | 589284 |
| 85000 | News Corp.<sup>(c)</sup> | 5.13% | 02/15/2032 | 77473 |
| 210000 | Scripps Escrow II, Inc.<sup>(c)</sup> | 3.88% | 01/15/2029 | 168834 |
|  |  |  |  | 3138525 |
| ***Mining - 0.08%*** | ***Mining - 0.08%*** | ***Mining - 0.08%*** | ***Mining - 0.08%*** | ***Mining - 0.08%*** |
| 220000 | Arconic Corp.<sup>(c)</sup> | 6.13% | 02/15/2028 | 206797 |
| 50000 | Freeport-McMoRan, Inc. | 4.38% | 08/01/2028 | 46757 |
| 300000 | Freeport-McMoRan, Inc. | 4.63% | 08/01/2030 | 279922 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Principal Amount/Description** | **Principal Amount/Description** | **Principal Amount/Description** | **Rate** | **Maturity** | **Value** | **Value** |
| $| 310000 | Glencore Funding LLC<sup>(c)</sup> | 1.63% | 04/27/2026 | $| 273498 |
|  | 240000 | Glencore Funding LLC<sup>(c)</sup> | 3.38% | 09/23/2051 |  | 156682 |
|  |  |  |  |  |  | 963656 |
| ***Miscellaneous Manufactur - 0.01%*** | ***Miscellaneous Manufactur - 0.01%*** | ***Miscellaneous Manufactur - 0.01%*** | ***Miscellaneous Manufactur - 0.01%*** | ***Miscellaneous Manufactur - 0.01%*** | ***Miscellaneous Manufactur - 0.01%*** | ***Miscellaneous Manufactur - 0.01%*** |
|  | 155000 | Parker-Hannifin Corp. | 4.25% | 09/15/2027 |  | 150644 |
| ***Oil & Gas - 0.42%*** | ***Oil & Gas - 0.42%*** | ***Oil & Gas - 0.42%*** | ***Oil & Gas - 0.42%*** | ***Oil & Gas - 0.42%*** | ***Oil & Gas - 0.42%*** | ***Oil & Gas - 0.42%*** |
|  | 285000 | BP Capital Markets America, Inc. | 2.94% | 06/04/2051 |  | 188955 |
|  | 325000 | BP Capital Markets America, Inc. | 3.00% | 03/17/2052 |  | 215735 |
|  | 630000 | Brooklyn Union Gas Co.<sup>(c)</sup> | 4.49% | 03/04/2049 |  | 484173 |
|  | 165000 | Callon Petroleum Co.<sup>(c)</sup> | 7.50% | 06/15/2030 |  | 151190 |
|  | 165000 | Chesapeake Energy Corp.<sup>(c)</sup> | 5.88% | 02/01/2029 |  | 156574 |
|  | 170000 | CNX Resources Corp.<sup>(c)</sup> | 6.00% | 01/15/2029 |  | 156677 |
|  | 100000 | CNX Resources Corp.<sup>(c)</sup> | 7.38% | 01/15/2031 |  | 95987 |
|  | 240000 | Continental Resources, Inc.<sup>(c)</sup> | 2.27% | 11/15/2026 |  | 208262 |
|  | 300000 | Exxon Mobil Corp. | 4.23% | 03/19/2040 |  | 271268 |
|  | 160000 | Halliburton Co. | 2.92% | 03/01/2030 |  | 137531 |
|  | 140000 | Hilcorp Energy I LP / Hilcorp Finance Co.<sup>(c)</sup> | 6.25% | 11/01/2028 |  | 126949 |
|  | 155000 | Hilcorp Energy I LP / Hilcorp Finance Co.<sup>(c)</sup> | 5.75% | 02/01/2029 |  | 138184 |
|  | 235000 | Marathon Petroleum Corp. | 5.13% | 12/15/2026 |  | 233885 |
|  | 750000 | NiSource, Inc. | 3.60% | 05/01/2030 |  | 669571 |
|  | 65000 | Occidental Petroleum Corp. | 6.63% | 09/01/2030 |  | 67316 |
|  | 95000 | Occidental Petroleum Corp. | 6.13% | 01/01/2031 |  | 96056 |
|  | 95000 | Occidental Petroleum Corp. | 6.45% | 09/15/2036 |  | 97114 |
|  | 95000 | Pioneer Natural Resources Co. | 1.90% | 08/15/2030 |  | 74610 |
|  | 700000 | SierraCol Energy Andina LLC<sup>(c)</sup> | 6.00% | 06/15/2028 |  | 550238 |
|  | 300000 | SierraCol Energy Andina LLC<sup>(d)</sup> | 6.00% | 06/15/2028 |  | 235816 |
|  | 140000 | Southwestern Energy Co. | 5.38% | 02/01/2029 |  | 129991 |
|  | 160000 | Southwestern Energy Co. | 4.75% | 02/01/2032 |  | 137042 |
|  | 215000 | Sunoco LP / Sunoco Finance Corp. | 4.50% | 05/15/2029 |  | 188371 |
|  | 100000 | USA Compression Partners LP / USA Compression Finance Corp. | 6.88% | 09/01/2027 |  | 93661 |
|  |  |  |  |  |  | 4905156 |
| ***Oil & Gas Services - 0.01%*** | ***Oil & Gas Services - 0.01%*** | ***Oil & Gas Services - 0.01%*** | ***Oil & Gas Services - 0.01%*** | ***Oil & Gas Services - 0.01%*** | ***Oil & Gas Services - 0.01%*** | ***Oil & Gas Services - 0.01%*** |
|  | 150000 | Weatherford International, Ltd.<sup>(c)</sup> | 6.50% | 09/15/2028 |  | 147261 |
| ***Packaging & Containers - 0.08%*** | ***Packaging & Containers - 0.08%*** | ***Packaging & Containers - 0.08%*** | ***Packaging & Containers - 0.08%*** | ***Packaging & Containers - 0.08%*** | ***Packaging & Containers - 0.08%*** | ***Packaging & Containers - 0.08%*** |
|  | 230000 | Berry Global, Inc. | 1.65% | 01/15/2027 |  | 197025 |
|  | 195000 | Clydesdale Acquisition Holdings, Inc.<sup>(c)</sup> | 6.63% | 04/15/2029 |  | 185645 |
|  | 576000 | WRKCo, Inc. | 3.75% | 03/15/2025 |  | 557569 |
|  |  |  |  |  |  | 940239 |
| ***Pharmaceuticals - 0.10%*** | ***Pharmaceuticals - 0.10%*** | ***Pharmaceuticals - 0.10%*** | ***Pharmaceuticals - 0.10%*** | ***Pharmaceuticals - 0.10%*** | ***Pharmaceuticals - 0.10%*** | ***Pharmaceuticals - 0.10%*** |
|  | 620000 | AbbVie, Inc. | 4.70% | 05/14/2045 |  | 553722 |
|  | 260000 | AdaptHealth LLC<sup>(c)</sup> | 5.13% | 03/01/2030 |  | 221673 |
|  | 100000 | Bausch Health Cos., Inc.<sup>(c)</sup> | 6.13% | 02/01/2027 |  | 69088 |
|  | 24000 | Bausch Health Cos., Inc.<sup>(c)</sup> | 11.00% | 09/30/2028 |  | 18836 |
|  | 4000 | Bausch Health Cos., Inc.<sup>(c)</sup> | 14.00% | 10/15/2030 |  | 2395 |
|  | 200000 | Owens & Minor, Inc.<sup>(c)</sup> | 6.63% | 04/01/2030 |  | 172140 |
|  | 190000 | Viatris, Inc. | 1.65% | 06/22/2025 |  | 172251 |
|  |  |  |  |  |  | 1210105 |
| ***Pipelines - 0.36%*** | ***Pipelines - 0.36%*** | ***Pipelines - 0.36%*** | ***Pipelines - 0.36%*** | ***Pipelines - 0.36%*** | ***Pipelines - 0.36%*** | ***Pipelines - 0.36%*** |
|  | 73000 | Antero Midstream Partners LP / Antero Midstream Finance Corp.<sup>(c)</sup> | 5.75% | 03/01/2027 |  | 69137 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Principal Amount/Description** | **Principal Amount/Description** | **Principal Amount/Description** | **Rate** | **Maturity** | **Value** | **Value** |
| $| 315000 | Energy Transfer LP | 4.75% | 01/15/2026 | $| 307172 |
|  | 1000000 | Energy Transfer LP | 3.90% | 07/15/2026 |  | 946091 |
|  | 200000 | Energy Transfer LP | 4.40% | 03/15/2027 |  | 190284 |
|  | 350000 | Energy Transfer LP | 5.00% | 05/15/2044 |  | 286993 |
|  | 105000 | EQM Midstream Partners LP<sup>(c)</sup> | 4.75% | 01/15/2031 |  | 86043 |
|  | 275000 | Hess Midstream Operations LP<sup>(c)</sup> | 4.25% | 02/15/2030 |  | 235475 |
|  | 468000 | Kinder Morgan Energy Partners LP | 6.95% | 01/15/2038 |  | 497105 |
|  | 1215000 | NGL Energy Operating LLC / NGL Energy Finance Corp.<sup>(c)</sup> | 7.50% | 02/01/2026 |  | 1083927 |
|  | 160000 | NGPL PipeCo LLC<sup>(c)</sup> | 3.25% | 07/15/2031 |  | 130563 |
|  | 180000 | ONEOK, Inc. | 3.40% | 09/01/2029 |  | 155945 |
|  | 235000 | Sabine Pass Liquefaction LLC | 5.00% | 03/15/2027 |  | 230782 |
|  |  |  |  |  |  | 4219517 |
| ***Real Estate - 0.01%*** | ***Real Estate - 0.01%*** | ***Real Estate - 0.01%*** | ***Real Estate - 0.01%*** | ***Real Estate - 0.01%*** | ***Real Estate - 0.01%*** | ***Real Estate - 0.01%*** |
|  | 130000 | Realogy Group LLC / Realogy Co.-Issuer Corp.<sup>(c)</sup> | 5.25% | 04/15/2030 |  | 95005 |
| ***REITS - 0.26%*** | ***REITS - 0.26%*** | ***REITS - 0.26%*** | ***REITS - 0.26%*** | ***REITS - 0.26%*** | ***REITS - 0.26%*** | ***REITS - 0.26%*** |
|  | 165000 | Agree LP | 2.60% | 06/15/2033 |  | 124707 |
|  | 245000 | Alexandria Real Estate Equities, Inc. | 3.00% | 05/18/2051 |  | 155950 |
|  | 280000 | Corporate Office Properties LP | 2.90% | 12/01/2033 |  | 199398 |
|  | 515000 | Crown Castle, Inc. | 3.65% | 09/01/2027 |  | 479191 |
|  | 330000 | Equinix, Inc. | 1.80% | 07/15/2027 |  | 282963 |
|  | 1000000 | Equinix, Inc. | 2.15% | 07/15/2030 |  | 797776 |
|  | 365000 | Host Hotels & Resorts LP | 2.90% | 12/15/2031 |  | 280091 |
|  | 265000 | Invitation Homes Operating Partnership LP | 2.70% | 01/15/2034 |  | 194002 |
|  | 250000 | Iron Mountain, Inc.<sup>(c)</sup> | 4.50% | 02/15/2031 |  | 206049 |
|  | 140000 | Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co.-Issuer<sup>(c)</sup> | 4.88% | 05/15/2029 |  | 118692 |
|  | 90000 | Sabra Health Care LP | 3.20% | 12/01/2031 |  | 67172 |
|  | 130000 | Vornado Realty LP | 2.15% | 06/01/2026 |  | 110010 |
|  |  |  |  |  |  | 3016001 |
| ***Retail - 0.33%*** | ***Retail - 0.33%*** | ***Retail - 0.33%*** | ***Retail - 0.33%*** | ***Retail - 0.33%*** | ***Retail - 0.33%*** | ***Retail - 0.33%*** |
|  | 585000 | Dick's Sporting Goods, Inc. | 3.15% | 01/15/2032 |  | 458020 |
|  | 190000 | Dick's Sporting Goods, Inc. | 4.10% | 01/15/2052 |  | 123195 |
|  | 140000 | Dollar General Corp. | 4.25% | 09/20/2024 |  | 138169 |
|  | 530000 | Dollar Tree, Inc. | 4.00% | 05/15/2025 |  | 517903 |
|  | 90000 | Dollar Tree, Inc. | 3.38% | 12/01/2051 |  | 60818 |
|  | 120000 | Ferrellgas LP / Ferrellgas Finance Corp.<sup>(c)</sup> | 5.38% | 04/01/2026 |  | 109308 |
|  | 160000 | Fertitta Entertainment LLC / Fertitta Entertainment Finance Co., Inc.<sup>(c)</sup> | 6.75% | 01/15/2030 |  | 129356 |
|  | 170000 | Lowe's Cos., Inc. | 4.40% | 09/08/2025 |  | 167636 |
|  | 155000 | Lowe's Cos., Inc. | 5.63% | 04/15/2053 |  | 149260 |
|  | 305000 | McDonald's Corp. | 4.45% | 03/01/2047 |  | 265934 |
|  | 130000 | Michaels Cos., Inc.<sup>(c)</sup> | 5.25% | 05/01/2028 |  | 104746 |
|  | 190000 | Park River Holdings, Inc.<sup>(c)</sup> | 5.63% | 02/01/2029 |  | 126769 |
|  | 945000 | PetSmart, Inc. / PetSmart Finance Corp.<sup>(c)</sup> | 7.75% | 02/15/2029 |  | 889309 |
|  | 190000 | SRS Distribution, Inc.<sup>(c)</sup> | 4.63% | 07/01/2028 |  | 168671 |
|  | 185000 | Staples, Inc.<sup>(c)</sup> | 7.50% | 04/15/2026 |  | 159607 |
|  | 225000 | Suburban Propane Partners LP/Suburban Energy Finance Corp.<sup>(c)</sup> | 5.00% | 06/01/2031 |  | 191533 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Principal Amount/Description** | **Principal Amount/Description** | **Principal Amount/Description** | **Rate** | **Maturity** | **Value** | **Value** |
| $| 145000 | Victoria's Secret & Co.<sup>(c)</sup> | 4.63% | 07/15/2029 | $| 114028 |
|  |  |  |  |  |  | 3874262 |
| ***Semiconductors - 0.08%*** | ***Semiconductors - 0.08%*** | ***Semiconductors - 0.08%*** | ***Semiconductors - 0.08%*** | ***Semiconductors - 0.08%*** | ***Semiconductors - 0.08%*** | ***Semiconductors - 0.08%*** |
|  | 529000 | Broadcom, Inc.<sup>(c)</sup> | 3.42% | 04/15/2033 |  | 425573 |
|  | 510000 | Marvell Technology, Inc. | 4.20% | 06/22/2023 |  | 507148 |
|  |  |  |  |  |  | 932721 |
| ***Software - 0.17%*** | ***Software - 0.17%*** | ***Software - 0.17%*** | ***Software - 0.17%*** | ***Software - 0.17%*** | ***Software - 0.17%*** | ***Software - 0.17%*** |
|  | 200000 | AthenaHealth Group, Inc.<sup>(c)</sup> | 6.50% | 02/15/2030 |  | 147761 |
|  | 1550000 | Castle US Holding Corp. | 9.50% | 02/15/2028 |  | 617094 |
|  | 120000 | Clarivate Science Holdings Corp.<sup>(c)</sup> | 4.88% | 07/01/2029 |  | 102198 |
|  | 225217 | CWT Travel Group, Inc.<sup>(c)</sup> | 8.50% | 11/19/2026 |  | 191457 |
|  | 180000 | Oracle Corp. | 6.25% | 11/09/2032 |  | 188960 |
|  | 130000 | Oracle Corp. | 3.80% | 11/15/2037 |  | 103393 |
|  | 450000 | Oracle Corp. | 3.85% | 04/01/2060 |  | 300981 |
|  | 365000 | VMware, Inc. | 2.20% | 08/15/2031 |  | 277859 |
|  | 120000 | Workday, Inc. | 3.70% | 04/01/2029 |  | 110345 |
|  |  |  |  |  |  | 2040048 |
| ***Telecommunications - 0.39%*** | ***Telecommunications - 0.39%*** | ***Telecommunications - 0.39%*** | ***Telecommunications - 0.39%*** | ***Telecommunications - 0.39%*** | ***Telecommunications - 0.39%*** | ***Telecommunications - 0.39%*** |
|  | 500000 | AT&T, Inc. | 4.30% | 02/15/2030 |  | 471982 |
|  | 185000 | AT&T, Inc. | 2.75% | 06/01/2031 |  | 153778 |
|  | 795000 | AT&T, Inc. | 3.50% | 09/15/2053 |  | 540151 |
|  | 400000 | AT&T, Inc. | 3.55% | 09/15/2055 |  | 268696 |
|  | 175000 | CommScope, Inc.<sup>(c)</sup> | 4.75% | 09/01/2029 |  | 141413 |
|  | 1675000 | Embarq Corp Eq | 8.00% | 06/01/2036 |  | 782568 |
|  | 45000 | Frontier Communications Holdings LLC<sup>(c)</sup> | 5.88% | 10/15/2027 |  | 41885 |
|  | 85000 | Frontier Communications Holdings LLC<sup>(c)</sup> | 5.00% | 05/01/2028 |  | 74291 |
|  | 150000 | Frontier Communications Holdings LLC<sup>(c)</sup> | 6.00% | 01/15/2030 |  | 118031 |
|  | 55000 | Lumen Technologies, Inc.<sup>(c)</sup> | 5.13% | 12/15/2026 |  | 47900 |
|  | 315000 | T-Mobile USA, Inc. | 2.25% | 02/15/2026 |  | 287126 |
|  | 1000000 | T-Mobile USA, Inc. | 3.88% | 04/15/2030 |  | 908160 |
|  | 320000 | T-Mobile USA, Inc. | 3.40% | 10/15/2052 |  | 216459 |
|  | 500000 | Verizon Communications, Inc. | 3.15% | 03/22/2030 |  | 442081 |
|  | 95000 | Verizon Communications, Inc. | 3.88% | 03/01/2052 |  | 72512 |
|  |  |  |  |  |  | 4567033 |
| ***Transportation - 0.09%*** | ***Transportation - 0.09%*** | ***Transportation - 0.09%*** | ***Transportation - 0.09%*** | ***Transportation - 0.09%*** | ***Transportation - 0.09%*** | ***Transportation - 0.09%*** |
|  | 695000 | CSX Corp. | 3.80% | 11/01/2046 |  | 548873 |
|  | 500000 | Union Pacific Corp. | 3.70% | 03/01/2029 |  | 472377 |
|  |  |  |  |  |  | 1021250 |
| ***Trucking & Leasing - 0.02%*** | ***Trucking & Leasing - 0.02%*** | ***Trucking & Leasing - 0.02%*** | ***Trucking & Leasing - 0.02%*** | ***Trucking & Leasing - 0.02%*** | ***Trucking & Leasing - 0.02%*** | ***Trucking & Leasing - 0.02%*** |
|  | 275000 | Penske Truck Leasing Co. LP / PTL Finance Corp.<sup>(c)</sup> | 4.20% | 04/01/2027 |  | 258431 |
| TOTAL U.S. CORPORATE BONDS | TOTAL U.S. CORPORATE BONDS | TOTAL U.S. CORPORATE BONDS | TOTAL U.S. CORPORATE BONDS | TOTAL U.S. CORPORATE BONDS | TOTAL U.S. CORPORATE BONDS | TOTAL U.S. CORPORATE BONDS |
| (Cost $106,696,273) | (Cost $106,696,273) | (Cost $106,696,273) |  |  |  | 88706931 |
| **CONVERTIBLE CORPORATE BONDS - 0.00%** | **CONVERTIBLE CORPORATE BONDS - 0.00%** | **CONVERTIBLE CORPORATE BONDS - 0.00%** | **CONVERTIBLE CORPORATE BONDS - 0.00%** | **CONVERTIBLE CORPORATE BONDS - 0.00%** | **CONVERTIBLE CORPORATE BONDS - 0.00%** | **CONVERTIBLE CORPORATE BONDS - 0.00%** |
|  | 98892 | Digicel Group Holdings, Ltd.<sup>(c)(f)(g)</sup> | 5.09% (7.00%) | 12/31/2049 |  | 9518 |
| TOTAL CONVERTIBLE CORPORATE BONDS | TOTAL CONVERTIBLE CORPORATE BONDS | TOTAL CONVERTIBLE CORPORATE BONDS | TOTAL CONVERTIBLE CORPORATE BONDS | TOTAL CONVERTIBLE CORPORATE BONDS | TOTAL CONVERTIBLE CORPORATE BONDS | TOTAL CONVERTIBLE CORPORATE BONDS |
| (Cost $23,385) | (Cost $23,385) | (Cost $23,385) |  |  |  | 9518 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal Amount/Description** | **Principal Amount/Description** | **Rate** | **Maturity** | **Value** |
| **FOREIGN GOVERNMENT BONDS AND NOTES, SUPRANATIONALS AND FOREIGN** | **FOREIGN GOVERNMENT BONDS AND NOTES, SUPRANATIONALS AND FOREIGN** | **FOREIGN GOVERNMENT BONDS AND NOTES, SUPRANATIONALS AND FOREIGN** | **FOREIGN GOVERNMENT BONDS AND NOTES, SUPRANATIONALS AND FOREIGN** | **FOREIGN GOVERNMENT BONDS AND NOTES, SUPRANATIONALS AND FOREIGN** |
| **AGENCIES - 0.77%** | **AGENCIES - 0.77%** |  |  |  |
| $400000 | Brazilian Government International Bond | 5.63% | 02/21/2047 | $318230 |
| 1150000 | Brazilian Government International Bond | 4.75% | 01/14/2050 | 809388 |
| 300000 | Chile Government International Bond | 3.50% | 01/25/2050 | 217462 |
| 500000 | Chile Government International Bond | 3.10% | 01/22/2061 | 313171 |
| 300000 | Colombia Government International Bond | 3.25% | 04/22/2032 | 219134 |
| 200000 | Colombia Government International Bond | 4.13% | 02/22/2042 | 125765 |
| 1100000 | Colombia Government International Bond | 5.00% | 06/15/2045 | 752462 |
| 300000 | Colombia Government International Bond | 5.20% | 05/15/2049 | 205451 |
| 600000 | Colombia Government International Bond | 4.13% | 05/15/2051 | 361103 |
| 600000 | Dominican Republic International Bond<sup>(c)</sup> | 6.40% | 06/05/2049 | 487337 |
| 250000 | Dominican Republic International Bond<sup>(d)</sup> | 5.88% | 01/30/2060 | 184293 |
| 500000 | Indonesia Government International Bond | 3.70% | 10/30/2049 | 387816 |
| 400000 | Instituto Costarricense de Electricidad<sup>(d)</sup> | 6.38% | 05/15/2043 | 318144 |
| 250000 | Korea Development Bank | 2.00% | 10/25/2031 | 198817 |
| 1160000 | Mexico Government International Bond | 3.75% | 01/11/2028 | 1097319 |
| 750000 | Mexico Government International Bond | 4.28% | 08/14/2041 | 580142 |
| 500000 | Mexico Government International Bond | 4.40% | 02/12/2052 | 369459 |
| 600000 | Panama Government International Bond | 2.25% | 09/29/2032 | 446553 |
| 500000 | Panama Government International Bond | 3.87% | 07/23/2060 | 324193 |
| 200000 | Philippine Government International Bond | 3.70% | 03/01/2041 | 164112 |
| 200000 | Philippine Government International Bond | 3.70% | 02/02/2042 | 164263 |
| 200000 | Republic of South Africa Government International Bond | 4.30% | 10/12/2028 | 179000 |
| 900000 | Republic of South Africa Government International Bond | 5.65% | 09/27/2047 | 664622 |
| 800000 | Ukraine Government International Bond<sup>(d)</sup> | 7.25% | 03/15/2035 | 151394 |
| TOTAL FOREIGN GOVERNMENT BONDS AND NOTES, SUPRANATIONALS AND FOREIGN AGENCIES | TOTAL FOREIGN GOVERNMENT BONDS AND NOTES, SUPRANATIONALS AND FOREIGN AGENCIES | TOTAL FOREIGN GOVERNMENT BONDS AND NOTES, SUPRANATIONALS AND FOREIGN AGENCIES | TOTAL FOREIGN GOVERNMENT BONDS AND NOTES, SUPRANATIONALS AND FOREIGN AGENCIES | TOTAL FOREIGN GOVERNMENT BONDS AND NOTES, SUPRANATIONALS AND FOREIGN AGENCIES |
| (Cost $12,319,324) | (Cost $12,319,324) |  |  | 9039630 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal Amount/Description** | **Principal Amount/Description** | **Rate** | **Maturity** | **Value** |
| **BANK LOANS - 2.11%<sup>(e)</sup>** | **BANK LOANS - 2.11%<sup>(e)</sup>** | **BANK LOANS - 2.11%<sup>(e)</sup>** | **BANK LOANS - 2.11%<sup>(e)</sup>** | **BANK LOANS - 2.11%<sup>(e)</sup>** |
| ***Cayman Islands - 0.09%*** | ***Cayman Islands - 0.09%*** | ***Cayman Islands - 0.09%*** | ***Cayman Islands - 0.09%*** | ***Cayman Islands - 0.09%*** |
| 1019475 | Grab Holdings, Inc., First Lien - Initial Term Loan | 1M US L + 4.39%, 1.00% Floor | 01/29/2026 | $1009280 |
| ***Luxembourg - 0.10%*** | ***Luxembourg - 0.10%*** | ***Luxembourg - 0.10%*** | ***Luxembourg - 0.10%*** | ***Luxembourg - 0.10%*** |
| 1123314 | Travelport Finance Luxembourg SARL 1L, 2021, First Lien - Initial (Priority) Term Loan | 3M US L + 8.75%, 1.00% Floor | 02/28/2025 | 1127274 |
| ***Netherlands - 0.02%*** | ***Netherlands - 0.02%*** | ***Netherlands - 0.02%*** | ***Netherlands - 0.02%*** | ***Netherlands - 0.02%*** |
| 179898 | Bright Bidco BV, First Lien | 3M US SOFR + 9.0%, 1.00% Floor | 10/31/2027 | 158010 |
| 5736 | Lealand Finance Company B.V., First Lien - Make-Whole Term Loan | 3M US L + 3.00% | 06/28/2024 | 3728 |
| 76280 | Lealand Finance Company B.V., First Lien - Take-Back Term Loan | 3M US L + 1.00% | 06/30/2025 | 40946 |
|  |  |  |  | 202684 |
| ***United Arab Emirates - 0.06%*** | ***United Arab Emirates - 0.06%*** | ***United Arab Emirates - 0.06%*** | ***United Arab Emirates - 0.06%*** | ***United Arab Emirates - 0.06%*** |
| 782155 | Gulf Finance, LLC TL 1L | 1M US L + 6.75% | 08/25/2026 | 740439 |
| ***United States - 1.84%*** | ***United States - 1.84%*** | ***United States - 1.84%*** | ***United States - 1.84%*** | ***United States - 1.84%*** |
| 1234545 | Air Methods Corp., First Lien - Initial Term Loan | 3M US L + 3.50%, 1.00% Floor | 04/22/2024 | 699215 |
| 915400 | American Tire Distributors, Inc., First Lien - Initial Term Loan | 3M US L + 6.25% | 10/08/2028 | 842168 |
| 965000 | Applied Systems, Inc.,First Lien - Initial Term Loan | 3M US SOFR + 6.75% | 09/19/2027 | 961381 |
| 452470 | Astra Acquisition Corp., First Lien - Initial Term Loan | 1M US L + 5.25% | 10/22/2028 | 401567 |
| 1989522 | Astra Acquisition Corp., Second Lien - Initial Term Loan | 1M US L + 8.875% | 10/22/2029 | 1790569 |
| 295000 | Asurion LLC, Second Lien - New B-3 Term Loan | 1M US L + 5.25% | 01/31/2028 | 231820 |
| 1526750 | Atlas Purchaser, Inc., First Lien - Initial Term Loan | 3M US L + 3.00%, 0.75% Floor | 05/08/2028 | 1081130 |
| 1490000 | Aveanna Healthcare LLC, Second Lien - Initial Term Loan | 1M US L + 7.00%, 0.50% Floor | 12/10/2029 | 894000 |
| 200000 | Blackhawk Network Holdings, Inc., Second Lien | 3M US L + 7.00% | 06/15/2026 | 172350 |
| 727650 | Cengage Learning, Inc., First Lien - B Term Loan | 3M US L + 5.00% | 06/29/2026 | 656137 |
| 1630000 | Constant Contact, Inc., Second Lien - Initial Term Loan | 3M US L + 7.50%, 0.75% Floor | 02/12/2029 | 1257814 |
| 905000 | DCert Buyer, Inc., Second Lien - First Amendment Refinancing Term Loan | 3M US L + 7.00% | 02/19/2029 | 829885 |
| 760000 | DG Investment Intermediate Holdings 2, Inc., Second Lien - Initial Term Loan | 1M US L + 6.75%, 0.75% Floor | 03/30/2029 | 675131 |
| 431428 | Edgewater Generation LLC, First Lien | 1M US L + 3.75% | 12/13/2025 | 410719 |
| 3112537 | Envision Healthcare Corp., First Lien | 3M US L + 0.00% | 03/31/2027 | 905219 |
| 646014 | Intelsat Jackson Holdings S.A.TLB 1L | 3M US L + 4.25% | 01/26/2029 | 625019 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal Amount/Description** | **Principal Amount/Description** | **Rate** | **Maturity** | **Value** |
| 400000 | Kenan Advantage Group, Inc, Second Lien - Initial Term Loan | 1M US L + 7.25%, 0.75% Floor | 08/18/2027 | $371334 |
| 435000 | LSF9 ATLANTIS HOLDINGS, LLC, First Lien - B Term Loan | 3M US L + 7.25% | 03/29/2029 | 423799 |
| 819621 | Minotaur Acquisition, Inc., First Lien - B Term Loan | 3M US L + 4.75% | 03/27/2026 | 785811 |
| 482225 | Misys, Ltd., First Lien - Dollar Term Loan | 3M US L + 3.50%, 1.00% Floor | 06/13/2024 | 427773 |
| 705000 | Misys, Ltd., Second Lien - Dollar Term Loan | 6M US L + 7.25%, 1.00% Floor | 06/13/2025 | 529254 |
| 1027068 | Riverbed Technology, Inc., First Lien - Initial Term Loan | 3M US L + 8.00% | 12/06/2026 | 443950 |
| 332037 | Sweetwater Borrower, LLC, First Lien - Initial Term Loan | 1M US L + 4.25% | 08/03/2028 | 308794 |
| 964385 | Team Health Holdings, Inc., First Lien - Initial Term Loan | 1M US L + 2.75%, 1.00% Floor | 02/06/2024 | 829371 |
| 590538 | Think & Learn Private, Ltd., First Lien - B Term Loan | 3M US L + 6.00% | 11/05/2026 | 476224 |
| 1229012 | Travel Leaders Group LLC, First Lien - 2018 Refinancing Term Loan | 1M US L + 4.00% | 01/25/2024 | 1129923 |
| 1410000 | UKG, Inc. TL 2L | 3M US L + 5.25% | 05/03/2027 | 1301078 |
| 804531 | Vantage Specialty Chemicals, Inc., First Lien - Closing Date Term Loan | 3M US L + 3.50%, 1.00% Floor | 10/28/2024 | 787535 |
| 683100 | Viad Corp, First Lien - Initial Term Loan | 3M US L + 5.00%, 0.50% Floor | 07/30/2028 | 647879 |
| 875893 | WaterBridge Midstream Operating LLC, First Lien - Initial Term Loan | 3M US L + 5.75%, 1.00% Floor | 06/22/2026 | 844278 |
|  |  |  |  | 21741127 |
| TOTAL BANK LOANS | TOTAL BANK LOANS | TOTAL BANK LOANS | TOTAL BANK LOANS | TOTAL BANK LOANS |
| <br> (Cost $28,549,096) | <br> (Cost $28,549,096) |  |  | 24820804 |
| **BUSINESS DEVELOPMENT COMPANIES - 0.10%** | **BUSINESS DEVELOPMENT COMPANIES - 0.10%** | **BUSINESS DEVELOPMENT COMPANIES - 0.10%** | **BUSINESS DEVELOPMENT COMPANIES - 0.10%** | **BUSINESS DEVELOPMENT COMPANIES - 0.10%** |
| 1292347 | Golub Capital BDC, Inc. | 3.38% | 04/15/2024 | $1243472 |
| TOTAL BUSINESS DEVELOPMENT COMPANIES | TOTAL BUSINESS DEVELOPMENT COMPANIES | TOTAL BUSINESS DEVELOPMENT COMPANIES | TOTAL BUSINESS DEVELOPMENT COMPANIES | TOTAL BUSINESS DEVELOPMENT COMPANIES |
| (Cost $1,243,283) | (Cost $1,243,283) |  |  | 1243472 |
| **COLLATERALIZED LOAN OBLIGATIONS - 4.78%** | **COLLATERALIZED LOAN OBLIGATIONS - 4.78%** | **COLLATERALIZED LOAN OBLIGATIONS - 4.78%** | **COLLATERALIZED LOAN OBLIGATIONS - 4.78%** | **COLLATERALIZED LOAN OBLIGATIONS - 4.78%** |
|  | AIMCO CLO |  |  |  |
| 500000 | Series 2018-AA<sup>(c)(e)</sup> | 3M US L + 2.55% | 04/17/2031 | $469591 |
|  | Apidos CLO XII |  |  |  |
| 500000 | Series 2018-12A<sup>(c)(e)</sup> | 3M US L + 2.60% | 04/15/2031 | 451345 |
|  | Apidos CLO XX |  |  |  |
| 500000 | Series 2018-20A<sup>(c)(e)</sup> | 3M US L + 2.95% | 07/16/2031 | 466636 |
|  | Apidos CLO XXIV |  |  |  |
| 1000000 | Series 2018-24A<sup>(c)(e)</sup> | 3M US L + 5.80% | 10/20/2030 | 841509 |
|  | Babson CLO, Ltd. |  |  |  |
| 500000 | Series 2018-IA<sup>(c)(e)</sup> | 3M US L + 2.60% | 01/20/2031 | 434904 |
|  | Bain Capital Credit CLO 2017-2, Ltd. |  |  |  |
| 500000 | Series 2021-2A<sup>(c)(e)</sup> | 3M US L + 6.50% | 07/25/2034 | 430047 |
| 1000000 | Series 2021-2A<sup>(c)(e)</sup> | 3M US L + 3.10% | 07/25/2034 | 916180 |
|  | Bain Capital Credit CLO 2021-2, Ltd. |  |  |  |
| 500000 | Series 2021-2A<sup>(c)(e)</sup> | 3M US L + 3.15% | 07/16/2034 | 465112 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal Amount/Description** | **Principal Amount/Description** | **Rate** | **Maturity** | **Value** |
|  | Bain Capital Credit CLO 2022-3, Ltd. |  |  |  |
| $1000000 | Series 2022-3A<sup>(c)(e)</sup> | 3M US SOFR + 7.35% | 07/17/2035 | $872449 |
|  | Barings CLO, Ltd. |  |  |  |
| 500000 | Series 2018-4A<sup>(c)(e)</sup> | 3M US L + 5.82% | 10/15/2030 | 418328 |
|  | Barings CLO, Ltd. 2018-III |  |  |  |
| 1295000 | Series 2018-3A<sup>(c)(e)</sup> | 3M US L + 5.75% | 07/20/2029 | 1108413 |
|  | Barings CLO, Ltd. 2019-I |  |  |  |
| 1500000 | Series 2021-1A<sup>(c)(e)</sup> | 3M US L + 6.86% | 04/15/2036 | 1363324 |
|  | Barings CLO, Ltd. 2019-II |  |  |  |
| 500000 | Series 2021-2A<sup>(c)(e)</sup> | 3M US L + 3.41% | 04/15/2036 | 458102 |
|  | Barings CLO, Ltd. 2021-II |  |  |  |
| 500000 | Series 2021-2A<sup>(c)(e)</sup> | 3M US L + 3.15% | 07/15/2034 | 464713 |
|  | Beechwood Park CLO, Ltd. |  |  |  |
| 500000 | Series 2022-1A<sup>(c)(e)</sup> | 3M US SOFR + 6.50% | 01/17/2035 | 447921 |
|  | BlueMountain CLO, Ltd. |  |  |  |
| 500000 | Series 2018-3A<sup>(c)(e)</sup> | 3M US L + 2.60% | 04/20/2031 | 422512 |
|  | BlueMountain Fuji US CLO II, Ltd. |  |  |  |
| 1000000 | Series 2017-2A<sup>(c)(e)</sup> | 3M US L + 3.00% | 10/20/2030 | 881514 |
|  | Buttermilk Park CLO, Ltd. |  |  |  |
| 1000000 | Series 2018-1A<sup>(c)(e)</sup> | 3M US L + 5.75% | 10/15/2031 | 810705 |
|  | Canyon Capital CLO 2016-2, Ltd. |  |  |  |
| 500000 | Series 2018-2A<sup>(c)(e)</sup> | 3M US L + 3.15% | 10/15/2031 | 430681 |
|  | Canyon Capital CLO 2017-1, Ltd. |  |  |  |
| 500000 | Series 2021-1A<sup>(c)(e)</sup> | 3M US L + 3.00% | 07/15/2030 | 447266 |
|  | Canyon Capital CLO 2019-1, Ltd. |  |  |  |
| 500000 | Series 2021-1A<sup>(c)(e)</sup> | 3M US L + 7.09% | 04/15/2032 | 434375 |
|  | Canyon Capital CLO 2021-2, Ltd. |  |  |  |
| 1250000 | Series 2021-2A<sup>(c)(e)</sup> | 3M US L + 3.35% | 04/15/2034 | 1156901 |
|  | Canyon Capital CLO, Ltd. |  |  |  |
| 1000000 | Series 2018-1A<sup>(c)(e)</sup> | 3M US L + 2.75% | 01/30/2031 | 858141 |
| 1500000 | Series 2018-1A<sup>(c)(e)</sup> | 3M US L + 5.50% | 01/30/2031 | 1097627 |
| 1000000 | Series 2018-1A<sup>(c)(e)</sup> | 3M US L + 5.75% | 07/15/2031 | 785032 |
| 500000 | Series 2018-1A<sup>(c)(e)</sup> | 3M US L + 2.80% | 07/15/2031 | 443753 |
| 500000 | Series 2018-1RA<sup>(c)(e)</sup> | 3M US L + 3.00% | 07/15/2030 | 461116 |
|  | Canyon CLO 2021-3, Ltd. |  |  |  |
| 1000000 | Series 2021-3A<sup>(c)(e)</sup> | 3M US L + 3.05% | 07/15/2034 | 926245 |
|  | Canyon CLO 2021-4, Ltd. |  |  |  |
| 1000000 | Series 2021-4A<sup>(c)(e)</sup> | 3M US L + 6.30% | 10/15/2034 | 881527 |
|  | Canyon CLO, Ltd. |  |  |  |
| 500000 | Series 2018-1A<sup>(c)(e)</sup> | 3M US L + 2.90% | 07/15/2031 | 431755 |
|  | Carlyle Global Market Strategies CLO 2016-3, Ltd. |  |  |  |
| 1000000 | Series 2021-3A<sup>(c)(e)</sup> | 3M US L + 3.30% | 07/20/2034 | 925893 |
|  | Carlyle Global Market Strategies CLO, Ltd. |  |  |  |
| 1000000 | Series 2018-2RA<sup>(c)(e)</sup> | 3M US L + 5.35% | 05/15/2031 | 772417 |
|  | Carlyle US CLO 2020-2, Ltd. |  |  |  |
| 2000000 | Series 2021-2A<sup>(c)(e)</sup> | 3M US L + 6.70% | 01/25/2035 | 1792777 |
|  | Carlyle US CLO 2021-1, Ltd. |  |  |  |
| 500000 | Series 2021-1A<sup>(c)(e)</sup> | 3M US L + 6.00% | 04/15/2034 | 436239 |
|  | Chenango Park CLO, Ltd. |  |  |  |
| 500000 | Series 2018-1A<sup>(c)(e)</sup> | 3M US L + 3.00% | 04/15/2030 | 456341 |
| 1000000 | Series 2018-1A<sup>(c)(e)</sup> | 3M US L + 5.80% | 04/15/2030 | 805229 |
|  | Cook Park CLO, Ltd. |  |  |  |
| 500000 | Series 2018-1A<sup>(c)(e)</sup> | 3M US L + 2.60% | 04/17/2030 | 449335 |
|  | Crown Point CLO IV, Ltd. |  |  |  |
| 500000 | Series 2018-4A<sup>(c)(e)</sup> | 3M US L + 1.90% | 04/20/2031 | 458855 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal Amount/Description** | **Principal Amount/Description** | **Rate** | **Maturity** | **Value** |
|  | Dryden 57 CLO, Ltd. |  |  |  |
| $500000 | Series 2018-57A<sup>(c)(e)</sup> | 3M US L + 2.55% | 05/15/2031 | $450871 |
|  | Elevation CLO 2021-14, Ltd. |  |  |  |
| 500000 | Series 2021-14A<sup>(c)(e)</sup> | 3M US L + 2.30% | 10/20/2034 | 458894 |
|  | Elmwood CLO IX, Ltd. |  |  |  |
| 500000 | Series 2021-2A<sup>(c)(e)</sup> | 3M US L + 5.94% | 07/20/2034 | 442211 |
|  | Fillmore Park CLO, Ltd. |  |  |  |
| 500000 | Series 2018-1A<sup>(c)(e)</sup> | 3M US L + 2.90% | 07/15/2030 | 462354 |
| 1000000 | Series 2018-1A<sup>(c)(e)</sup> | 3M US L + 5.40% | 07/15/2030 | 845556 |
|  | Galaxy XIX CLO, Ltd. |  |  |  |
| 1300000 | Series 2017-19A<sup>(c)(e)</sup> | 3M US L + 6.53% | 07/24/2030 | 1082394 |
|  | Gilbert Park CLO, Ltd. |  |  |  |
| 1000000 | Series 2017-1A<sup>(c)(e)</sup> | 3M US L + 6.40% | 10/15/2030 | 840979 |
|  | Goldentree Loan Management US CLO, Ltd. |  |  |  |
| 500000 | Series 2018-3A<sup>(c)(e)</sup> | 3M US L + 2.85% | 04/20/2030 | 468430 |
|  | Milos CLO, Ltd. |  |  |  |
| 500000 | Series 2020-1A<sup>(c)(e)</sup> | 3M US L + 6.15% | 10/20/2030 | 438478 |
|  | Myers Park CLO, Ltd. |  |  |  |
| 500000 | Series 2018-1A<sup>(c)(e)</sup> | 3M US L + 3.05% | 10/20/2030 | 445464 |
| 1000000 | Series 2018-1A<sup>(c)(e)</sup> | 3M US L + 5.50% | 10/20/2030 | 822829 |
|  | Neuberger Berman Loan Advisers CLO 37, Ltd. |  |  |  |
| 500000 | Series 2021-37A<sup>(c)(e)</sup> | 3M US L + 5.75% | 07/20/2031 | 455987 |
|  | Neuberger Berman Loan Advisers CLO 42, Ltd. |  |  |  |
| 500000 | Series 2021-42A<sup>(c)(e)</sup> | 3M US L + 5.95% | 07/16/2035 | 441067 |
|  | Neuberger Berman Loan Advisers Clo 44, Ltd. |  |  |  |
| 1000000 | Series 2021-44A<sup>(c)(e)</sup> | 3M US L + 6.00% | 10/16/2034 | 882722 |
|  | Point Au Roche Park CLO, Ltd. |  |  |  |
| 500000 | Series 2021-1A<sup>(c)(e)</sup> | 3M US L + 6.13% | 07/20/2034 | 431439 |
|  | PPM CLO 3, Ltd. |  |  |  |
| 1000000 | Series 2021-3A<sup>(c)(e)</sup> | 3M US L + 3.20% | 04/17/2034 | 919535 |
|  | Rockland Park CLO, Ltd. |  |  |  |
| 500000 | Series 2021-1A<sup>(c)(e)</sup> | 3M US L + 6.25% | 04/20/2034 | 440312 |
|  | Sound Point CLO XXIII |  |  |  |
| 500000 | Series 2021-2A<sup>(c)(e)</sup> | 3M US L + 3.30% | 07/15/2034 | 432924 |
|  | Sound Point CLO XXIV |  |  |  |
| 1375000 | Series 2021-3A<sup>(c)(e)</sup> | 3M US L + 6.72% | 10/25/2034 | 1085233 |
|  | Sound Point CLO XXVI, Ltd. |  |  |  |
| 500000 | Series 2021-1A<sup>(c)(e)</sup> | 3M US L + 3.35% | 07/20/2034 | 459643 |
|  | Sound Point CLO XXVIII, Ltd. |  |  |  |
| 1000000 | Series 2020-3A<sup>(c)(e)</sup> | 3M US L + 6.90% | 01/25/2032 | 871653 |
|  | Sound Point CLO XXXII, Ltd. |  |  |  |
| 500000 | Series 2021-4A<sup>(c)(e)</sup> | 3M US L + 3.40% | 10/25/2034 | 445472 |
| 500000 | Series 2021-4A<sup>(c)(e)</sup> | 3M US L + 6.70% | 10/25/2034 | 402457 |
|  | Stewart Park CLO, Ltd. |  |  |  |
| 500000 | Series 2018-1A<sup>(c)(e)</sup> | 3M US L + 2.60% | 01/15/2030 | 450685 |
|  | Thayer Park CLO, Ltd. |  |  |  |
| 500000 | Series 2021-1A<sup>(c)(e)</sup> | 3M US L + 6.25% | 04/20/2034 | 427517 |
|  | THL Credit Wind River 2017-1 CLO, Ltd. |  |  |  |
| 500000 | Series 2021-1A<sup>(c)(e)</sup> | 3M US L + 3.91% | 04/18/2036 | 426649 |
|  | THL Credit Wind River 2017-3 CLO, Ltd. |  |  |  |
| 750000 | Series 2021-3A<sup>(c)(e)</sup> | 3M US L + 3.88% | 04/15/2035 | 667844 |
| 500000 | Series 2021-3A<sup>(c)(e)</sup> | 3M US L + 7.08% | 04/15/2035 | 429116 |
|  | THL Credit Wind River 2018-3 CLO, Ltd. |  |  |  |
| 2000000 | Series 2018-3A<sup>(c)(e)</sup> | 3M US L + 2.95% | 01/20/2031 | 1737354 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Principal Amount/Description** | **Principal Amount/Description** | **Principal Amount/Description** | **Rate** | **Maturity** | **Value** | **Value** |
|  |  | THL Credit Wind River CLO, Ltd. |  |  |  |  |
| $| 500000 | Series 2018-1A<sup>(c)(e)</sup> | 2.90% - 3M US L | 07/15/2030 | $| 439617 |
|  | 2000000 | Series 2018-1A<sup>(c)(e)</sup> | 5.50% - 3M US L | 07/15/2030 |  | 1633431 |
|  | 1000000 | Series 2018-1A<sup>(c)(e)</sup> | 3M US L + 3.00% | 07/18/2031 |  | 854120 |
|  | 1000000 | Series 2018-2A<sup>(c)(e)</sup> | 3M US L + 5.75% | 07/15/2030 |  | 798018 |
|  | 1000000 | Series 2018-3A<sup>(c)(e)</sup> | 3M US L + 6.22% | 10/22/2031 |  | 782824 |
|  |  | Unity-Peace Park CLO, Ltd. |  |  |  |  |
|  | 500000 | Series 2022-1A<sup>(c)(e)</sup> | 3M US SOFR + 7.175% | 04/20/2035 |  | 443105 |
|  |  | Upland CLO, Ltd. |  |  |  |  |
|  | 500000 | Series 2018-1A<sup>(c)(e)</sup> | 3M US L + 2.90% | 04/20/2031 |  | 456868 |
|  |  | VOYA CLO 2017-2 |  |  |  |  |
|  | 1000000 | Series 2017-2A<sup>(c)(e)</sup> | 3M US L + 6.02% | 06/07/2030 |  | 807542 |
|  |  | Voya CLO, Ltd. |  |  |  |  |
|  | 500000 | Series 2018-1A<sup>(c)(e)</sup> | 3M US SOFR + 3.06161% | 04/18/2031 |  | 422734 |
|  | 1000000 | Series 2018-2A<sup>(c)(e)</sup> | 3M US L + 2.75% | 07/15/2031 |  | 830321 |
|  | 1000000 | Series 2018-2A<sup>(c)(e)</sup> | 3M US L + 5.25% | 07/15/2031 |  | 800819 |
|  | 500000 | Series 2018-3A<sup>(c)(e)</sup> | 3M US L + 6.20% | 10/20/2031 |  | 374388 |
|  | 500000 | Series 2018-4A<sup>(c)(e)</sup> | 3M US L + 5.95% | 07/14/2031 |  | 357495 |
|  |  | Webster Park CLO, Ltd. |  |  |  |  |
|  | 1000000 | Series 2018-1A<sup>(c)(e)</sup> | 5.50% - 3M US L | 07/20/2030 |  | 797851 |
|  |  | Wind River 2013-1 CLO, Ltd. |  |  |  |  |
|  | 500000 | Series 2017-1A<sup>(c)(e)</sup> | 3M US L + 3.65% | 07/20/2030 |  | 449547 |
|  |  | Wind River 2014-3 CLO, Ltd. |  |  |  |  |
|  | 1500000 | Series 2018-3A<sup>(c)(e)</sup> | 3M US L + 3.40% | 10/22/2031 |  | 1284420 |
|  |  | Wind River 2021-2 CLO, Ltd. |  |  |  |  |
|  | 500000 | Series 2021-2A<sup>(c)(e)</sup> | 3M US L + 6.43% | 07/20/2034 |  | 416350 |
| TOTAL COLLATERALIZED LOAN OBLIGATIONS | TOTAL COLLATERALIZED LOAN OBLIGATIONS | TOTAL COLLATERALIZED LOAN OBLIGATIONS | TOTAL COLLATERALIZED LOAN OBLIGATIONS | TOTAL COLLATERALIZED LOAN OBLIGATIONS | TOTAL COLLATERALIZED LOAN OBLIGATIONS | TOTAL COLLATERALIZED LOAN OBLIGATIONS |
| (Cost $64,700,657) | (Cost $64,700,657) | (Cost $64,700,657) |  |  |  | 56290329 |
| **EQUITY - LINKED NOTES - 0.00%(k)** | **EQUITY - LINKED NOTES - 0.00%(k)** | **EQUITY - LINKED NOTES - 0.00%(k)** | **EQUITY - LINKED NOTES - 0.00%(k)** | **EQUITY - LINKED NOTES - 0.00%(k)** | **EQUITY - LINKED NOTES - 0.00%(k)** | **EQUITY - LINKED NOTES - 0.00%(k)** |
|  | 263093 | Inverpamplona SA<sup>(h)(l)(m)</sup> | 0.00% | 12/30/2028 |  | – |
| TOTAL EQUITY - LINKED NOTES | TOTAL EQUITY - LINKED NOTES | TOTAL EQUITY - LINKED NOTES | TOTAL EQUITY - LINKED NOTES | TOTAL EQUITY - LINKED NOTES | TOTAL EQUITY - LINKED NOTES | TOTAL EQUITY - LINKED NOTES |
| (Cost $11,250) | (Cost $11,250) | (Cost $11,250) |  |  |  | – |
| **NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS - 20.77%** | **NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS - 20.77%** | **NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS - 20.77%** | **NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS - 20.77%** | **NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS - 20.77%** | **NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS - 20.77%** | **NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS - 20.77%** |
|  |  | Aaset 2021-2 Trust |  |  |  |  |
|  | 472973 | Series 2021-2A<sup>(c)</sup> | 3.54% | 12/15/2028 |  | 339382 |
|  |  | AASET, Ltd. |  |  |  |  |
|  | 409737 | Series 2018-1A<sup>(c)</sup> | 3.84% | 09/16/2023 |  | 263737 |
|  |  | ABFC Trust |  |  |  |  |
|  | 2668124 | Series 2007-WMC1<sup>(e)</sup> | 1M US L + 1.25% | 06/25/2037 |  | 1862267 |
|  |  | Alen Mortgage Trust |  |  |  |  |
|  | 1107000 | Series 2021-ACEN<sup>(c)(e)</sup> | 1M US L + 4.00% | 04/15/2026 |  | 856790 |
|  |  | AMSR |  |  |  |  |
|  | 5100000 | Series 2020-SFR3<sup>(c)</sup> | 4.99% | 09/17/2025 |  | 4681030 |
|  | 5000000 | Series 2021-SFR1<sup>(c)(e)</sup> | 4.61% | 06/17/2028 |  | 4001221 |
|  |  | AREIT Trust |  |  |  |  |
|  | 1265000 | Series 2019-CRE3<sup>(c)(e)</sup> | 30D SOFR + 2.76% | 09/16/2036 |  | 1178007 |
|  |  | Atrium Hotel Portfolio Trust |  |  |  |  |
|  | 1309000 | Series 2018-ATRM<sup>(c)(e)</sup> | 1M US L + 3.40% | 06/15/2035 |  | 1208386 |
|  |  | Atrium IX |  |  |  |  |
|  | 500000 | Series 2017-9A<sup>(c)(e)</sup> | 3M US L + 3.60% | 05/28/2030 |  | 452804 |
|  |  | Atrium XIII |  |  |  |  |
|  | 1000000 | Series 2017-13A<sup>(c)(e)</sup> | 3M US L + 6.05% | 11/21/2030 |  | 907330 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal Amount/Description** | **Principal Amount/Description** | **Rate** | **Maturity** | **Value** |
|  | Atrium XIV LLC |  |  |  |
| $1000000 | Series 2018-14A<sup>(c)(e)</sup> | 3M US L + 5.65% | 08/23/2030 | $905703 |
|  | Atrium XV |  |  |  |
| 1000000 | Series 2018-15A<sup>(c)(e)</sup> | 3M US L + 3.00% | 01/23/2031 | 942504 |
|  | BAMLL Commercial Mortgage Securities Trust |  |  |  |
| 683000 | Series 2019-AHT<sup>(c)(e)</sup> | 2.57% | 03/15/2034 | 652667 |
|  | Banc of America Commercial Mortgage Trust |  |  |  |
| 600000 | Series 2015-UBS7<sup>(e)</sup> | 4.34% | 09/15/2025 | 544962 |
|  | BANK |  |  |  |
| 200000 | Series 2017-BNK5<sup>(e)</sup> | 4.19% | 06/15/2027 | 169810 |
| 10291000 | Series 2018-BN12<sup>(e)(n)</sup> | 1.50% | 05/15/2061 | 624159 |
| 660000 | Series 2022-BNK39 | 3.18% | 01/15/2032 | 539803 |
| 165000 | Series 2022-BNK39<sup>(c)</sup> | 2.50% | 01/15/2032 | 82911 |
|  | BANK 2020-BNK27 |  |  |  |
| 16875000 | Series 2020-BN27<sup>(c)(e)(n)</sup> | 0.72% | 04/15/2030 | 725085 |
|  | BANK 2021-BNK35 |  |  |  |
| 316000 | Series 2021-BN35 | 2.29% | 07/15/2031 | 254828 |
|  | BANK 2021-BNK37 |  |  |  |
| 381000 | Series 2021-BN37<sup>(e)</sup> | 3.11% | 11/15/2031 | 262385 |
|  | BBCMS Mortgage Trust |  |  |  |
| 519000 | Series 2022-C17 | 4.44% | 08/15/2032 | 494210 |
|  | BBCMS Trust |  |  |  |
| 3000000 | Series 2018-CBM<sup>(c)(e)</sup> | 1M US L + 3.55% | 07/15/2037 | 2794593 |
|  | Benchmark Mortgage Trust |  |  |  |
| 10218677 | Series 2018-B2<sup>(e)(n)</sup> | 0.41% | 01/15/2028 | 158672 |
| 600000 | Series 2018-B2<sup>(e)</sup> | 4.23% | 01/15/2028 | 499482 |
| 21838834 | Series 2018-B4<sup>(e)(n)</sup> | 0.51% | 06/15/2028 | 370428 |
| 1589000 | Series 2018-B4<sup>(c)(e)</sup> | 2.80% | 07/17/2051 | 1122895 |
| 954000 | Series 2020-B17<sup>(e)</sup> | 3.37% | 03/15/2030 | 704221 |
| 522000 | Series 2020-B18<sup>(c)</sup> | 4.14% | 08/15/2025 | 422762 |
| 1510000 | Series 2021-B31<sup>(c)</sup> | 2.25% | 11/15/2031 | 751554 |
| 592000 | Series 2022-B32<sup>(e)</sup> | 3.41% | 01/15/2032 | 483121 |
|  | BF Mortgage Trust |  |  |  |
| 705000 | Series 2019-NYT<sup>(c)(e)</sup> | 1M US L + 3.00% | 12/15/2035 | 576490 |
|  | Blackbird Capital Aircraft |  |  |  |
| 1407873 | Series 2021-1A<sup>(c)</sup> | 3.45% | 07/15/2028 | 1039088 |
|  | BMO Mortgage Trust |  |  |  |
| 7951000 | Series 2022-C1<sup>(c)(e)(n)</sup> | 1.77% | 02/15/2032 | 980716 |
|  | BX Trust |  |  |  |
| 636000 | Series 2019-OC11<sup>(c)(e)</sup> | 3.94% | 12/09/2029 | 509624 |
| 2964000 | Series 2019-OC11<sup>(c)(e)</sup> | 3.94% | 12/06/2041 | 2307179 |
| 900000 | Series 2021-VIEW<sup>(c)(e)</sup> | 1M US L + 3.93% | 06/15/2023 | 819539 |
|  | Cantor Commercial Real Estate Lending |  |  |  |
| 1113000 | Series 2019-CF1<sup>(c)(e)</sup> | 4.12% | 04/15/2024 | 995908 |
|  | Carbon Capital VI Commercial Mortgage Trust |  |  |  |
| 359976 | Series 2019-FL2<sup>(c)(e)</sup> | 1M US L + 2.85% | 11/15/2021 | 340597 |
|  | Carvana Auto Receivables Trust |  |  |  |
| 5300 | Series 2021-N1<sup>(c)</sup> | 0.00% | 01/10/2028 | 1105764 |
| 5250 | Series 2021-N2<sup>(c)</sup> | 0.00% | 03/10/2028 | 1358038 |
|  | Cascade MH Asset Trust |  |  |  |
| 4601000 | Series 2019-MH1<sup>(c)(e)</sup> | 5.99% | 10/25/2024 | 4267219 |
|  | Castlelake Aircraft Securitization Trust |  |  |  |
| 3440687 | Series 2018-1<sup>(c)</sup> | 6.63% | 06/15/2043 | 1808514 |
|  | Castlelake Aircraft Structured Trust |  |  |  |
| 455450 | Series 2019-1A<sup>(c)</sup> | 3.97% | 04/15/2026 | 385012 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal Amount/Description** | **Principal Amount/Description** | **Rate** | **Maturity** | **Value** |
| $2750000 | Series 2019-1A<sup>(c)</sup> | 0.00% | 04/15/2039 | $192500 |
|  | Cathedral Lake VIII, Ltd. |  |  |  |
| 1000000 | Series 2021-8A<sup>(c)(e)</sup> | 3M US L + 2.62% | 01/20/2035 | 948957 |
| 1000000 | Series 2021-8A<sup>(c)(e)</sup> | 3M US L + 3.42% | 01/20/2035 | 922258 |
|  | CD Mortgage Trust |  |  |  |
| 750000 | Series 2017-CD4<sup>(e)</sup> | 4.35% | 04/10/2027 | 613444 |
|  | CFCRE Commercial Mortgage Trust |  |  |  |
| 440739 | Series 2016-C6 | 2.95% | 08/10/2026 | 403127 |
|  | CIFC Funding 2019-III, Ltd. |  |  |  |
| 650000 | Series 2021-3A<sup>(c)(e)</sup> | 3M US L + 6.80% | 10/16/2034 | 593155 |
|  | CIFC Funding, Ltd. |  |  |  |
| 850000 | Series 2021-1A<sup>(c)(e)</sup> | 3M US L + 6.00% | 04/25/2033 | 761229 |
| 500000 | Series 2021-4A<sup>(c)(e)</sup> | 3M US L + 5.95% | 07/15/2033 | 453835 |
| 2500000 | Series 2021-5A<sup>(c)(e)</sup> | 3M US L + 6.50% | 07/15/2034 | 2239482 |
|  | Citigroup Commercial Mortgage Trust |  |  |  |
| 3273830 | Series 2014-GC25<sup>(e)(n)</sup> | 0.96% | 10/10/2047 | 40672 |
| 866000 | Series 2015-GC27<sup>(c)(e)</sup> | 4.42% | 02/12/2048 | 759283 |
| 400000 | Series 2015-GC31<sup>(e)</sup> | 4.05% | 06/10/2025 | 351626 |
| 344000 | Series 2016-GC36<sup>(c)</sup> | 2.85% | 02/12/2049 | 187774 |
| 464000 | Series 2017-C4<sup>(e)</sup> | 4.10% | 10/12/2027 | 404388 |
| 225000 | Series 2019-GC41 | 3.20% | 08/10/2029 | 179017 |
| 1000000 | Series 2019-SMRT<sup>(c)(e)</sup> | 4.75% | 01/10/2036 | 953237 |
| 1433000 | Series 2020-555<sup>(c)(e)</sup> | 3.50% | 12/12/2041 | 934529 |
| 546000 | Series 2022-GC48<sup>(e)</sup> | 4.58% | 05/15/2032 | 527322 |
|  | Citigroup Mortgage Loan Trust |  |  |  |
| 633453 | Series 2006-WF1<sup>(j)</sup> | 4.64% | 03/25/2036 | 306149 |
| 957116 | Series 2007-OPX1<sup>(j)</sup> | 6.33% | 01/25/2037 | 383287 |
|  | Cologix Data Centers US Issuer LLC |  |  |  |
| 2800000 | Series 2021-1A<sup>(c)</sup> | 5.99% | 12/28/2026 | 2366039 |
|  | COMM 2014-CCRE16 Mortgage Trust |  |  |  |
| 1100000 | Series 2014-CR16<sup>(e)</sup> | 4.92% | 04/10/2024 | 998080 |
|  | Commercial Mortgage Pass-Through Certificates |  |  |  |
| 242400 | Series 2014-CR19<sup>(e)</sup> | 4.70% | 08/10/2024 | 227682 |
| 8396129 | Series 2014-UBS4 | 3.75% | 08/10/2024 | 674332 |
| 11000 | Series 2014-UBS4<sup>(c)(e)</sup> | 0.00% | 08/10/2047 | 1 |
| 2646522 | Series 2015-CR22<sup>(e)(n)</sup> | 0.89% | 03/10/2025 | 38015 |
| 4170497 | Series 2015-CR26<sup>(e)(n)</sup> | 0.93% | 09/10/2025 | 80372 |
|  | CSAB Mortgage-Backed Trust |  |  |  |
| 8781274 | Series 2006-2<sup>(j)</sup> | 6.20% | 09/25/2036 | 783999 |
| 124852 | Series 2007-1<sup>(e)</sup> | 5.90% | 05/25/2037 | 32639 |
|  | CSAIL Commercial Mortgage Trust |  |  |  |
| 5001474 | Series 2015-C1<sup>(e)(n)</sup> | 0.82% | 01/15/2025 | 61801 |
| 490000 | Series 2016-C6<sup>(e)</sup> | 4.92% | 04/15/2026 | 433641 |
| 1362000 | Series 2016-C6<sup>(c)(e)</sup> | 4.92% | 01/15/2049 | 1052192 |
|  | CSMC |  |  |  |
| 832000 | Series 2021-B33<sup>(c)(e)</sup> | 3.65% | 10/10/2031 | 616648 |
|  | CSMC Mortgage-Backed Trust |  |  |  |
| 223000 | Series 2017-CHOP<sup>(c)(e)</sup> | 1M US L + 3.30% | 07/15/2032 | 203651 |
|  | DBJPM 16-C1 Mortgage Trust |  |  |  |
| 1309000 | Series 2016-C1<sup>(e)</sup> | 3.33% | 05/12/2049 | 1082908 |
|  | Diamond Infrastructure Funding LLC |  |  |  |
| 2000000 | Series 2021-1A<sup>(c)</sup> | 3.48% | 12/20/2026 | 1557010 |
|  | DOLP Trust |  |  |  |
| 1000000 | Series 2021-NYC<sup>(e)</sup> | 3.70% | 05/10/2031 | 649529 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal Amount/Description** | **Principal Amount/Description** | **Rate** | **Maturity** | **Value** |
|  | Dryden 38 Senior Loan Fund |  |  |  |
| $1000000 | Series 2018-38A<sup>(c)(e)</sup> | 3M US L + 5.60% | 07/15/2030 | $825274 |
|  | Dryden 40 Senior Loan Fund |  |  |  |
| 1000000 | Series 2018-40A<sup>(c)(e)</sup> | 3M US L + 5.75% | 08/15/2031 | 814667 |
| 500000 | Series 2018-40A<sup>(c)(e)</sup> | 3M US L + 3.10% | 08/15/2031 | 465838 |
|  | Dryden 42 Senior Loan Fund |  |  |  |
| 500000 | Series 2018-42A<sup>(c)(e)</sup> | 3M US L + 2.93% | 07/15/2030 | 433839 |
|  | Fannie Mae-Aces |  |  |  |
| 23848168 | Series 2019-M12<sup>(e)(n)</sup> | 0.57% | 06/25/2029 | 611760 |
| 14325301 | Series 2019-M24<sup>(e)</sup> | 1.15% | 03/25/2031 | 602941 |
| 38701247 | Series 2019-M7<sup>(e)(n)</sup> | 0.35% | 04/25/2029 | 637804 |
| 29955488 | Series 2020-M10<sup>(e)(n)</sup> | 0.82% | 12/25/2027 | 788411 |
| 47768732 | Series 2020-M10<sup>(e)(n)</sup> | 0.87% | 07/25/2032 | 2871789 |
| 13902084 | Series 2020-M13<sup>(e)(n)</sup> | 1.30% | 09/25/2030 | 495127 |
| 43214174 | Series 2021-M23<sup>(e)(n)</sup> | 0.60% | 11/01/2031 | 962159 |
|  | FirstKey Homes |  |  |  |
| 1100000 | Series 2020-SFR1<sup>(c)</sup> | 4.28% | 08/19/2037 | 1004739 |
|  | FMC GMSR Issuer Trust |  |  |  |
| 6000000 | Series 2021-GT1<sup>(c)(e)</sup> | 4.36% | 07/25/2026 | 4558389 |
| 5000000 | Series 2021-GT2<sup>(c)(e)</sup> | 4.44% | 10/25/2026 | 3711625 |
|  | Fontainebleau Miami Beach Trust |  |  |  |
| 1656000 | Series 2019-FBLU<sup>(c)(e)</sup> | 3.96% | 12/12/2036 | 1466229 |
|  | FREMF Mortgage Trust |  |  |  |
| 890367 | Series 2015-KF07<sup>(c)(e)</sup> | 1M US L + 4.95% | 02/25/2025 | 889293 |
| 1000094 | Series 2016-KF19<sup>(c)(e)</sup> | 1M US L + 5.50% | 06/25/2023 | 990534 |
| 887222 | Series 2016-KF25<sup>(c)(e)</sup> | 1M US L + 5.00% | 10/25/2023 | 886396 |
| 1086369 | Series 2018-KF56<sup>(c)(e)</sup> | 1M US L + 5.80% | 11/25/2028 | 997032 |
| 1626348 | Series 2019-KF71<sup>(c)(e)</sup> | 1M US L + 6.00% | 10/25/2029 | 1534996 |
|  | FRTKL |  |  |  |
| 4050000 | Series 2021-SFR1<sup>(c)</sup> | 4.11% | 09/17/2026 | 3380060 |
|  | GAIA Aviation, Ltd. |  |  |  |
| 437477 | Series 2019-1<sup>(c)(j)</sup> | 7.00% | 12/15/2026 | 214477 |
|  | Ginnie Mae Strip |  |  |  |
| 7323266 | Series 2020-3 | 1.40% | 09/16/2045 | 579278 |
|  | Great Wolf Trust |  |  |  |
| 2500000 | Series 2019-WOLF<sup>(c)(e)</sup> | 1M US L + 3.13% | 12/15/2036 | 2349709 |
|  | GS Mortgage Securities Corp. II |  |  |  |
| 1111000 | Series 2021-ARDN<sup>(c)(e)</sup> | 1M US L + 5.00% | 11/15/2023 | 996264 |
| 1111000 | Series 2021-ARDN<sup>(c)(e)</sup> | 1M US L + 5.9332% | 11/15/2023 | 981409 |
|  | GS Mortgage Securities Corp. Trust |  |  |  |
| 1000000 | Series 2018-RIVR<sup>(c)(e)</sup> | 1M US L + 1.55% | 07/15/2035 | 770287 |
|  | GS Mortgage Securities Corportation Trust |  |  |  |
| 691000 | Series 2021-IP<sup>(c)(e)</sup> | 1M US L + 2.10% | 10/15/2023 | 633245 |
| 691000 | Series 2021-IP<sup>(c)(e)</sup> | 1M US L + 3.55% | 10/15/2023 | 653170 |
|  | GS Mortgage Securities Trust |  |  |  |
| 9836 | Series 2011-GC3<sup>(c)(e)(n)</sup> | 0.29% | 03/10/2044 | 0 |
| 325750 | Series 2011-GC5<sup>(c)(e)(n)</sup> | 1.95% | 08/10/2044 | 1 |
| 2417000 | Series 2014-GC26<sup>(c)(e)</sup> | 4.51% | 11/10/2047 | 1634699 |
| 1110000 | Series 2015-GC28<sup>(c)(e)</sup> | 4.31% | 02/10/2048 | 972403 |
| 6944592 | Series 2015-GS1<sup>(e)(n)</sup> | 0.77% | 11/10/2025 | 126589 |
| 1954000 | Series 2018-TWR<sup>(c)(e)</sup> | 1M US L + 3.92% | 07/15/2031 | 1567733 |
| 636000 | Series 2020-GC45<sup>(e)</sup> | 3.41% | 12/13/2029 | 507158 |
|  | GSAA Home Equity Trust |  |  |  |
| 1906220 | Series 2006-13<sup>(e)</sup> | 6.04% | 07/25/2036 | 620465 |
| 453565 | Series 2006-18<sup>(j)</sup> | 6.18% | 11/25/2036 | 116293 |
| 142090 | Series 2006-6<sup>(e)</sup> | 5.69% | 03/25/2036 | 42920 |
| 821277 | Series 2007-2<sup>(j)</sup> | 6.60% | 03/25/2037 | 205606 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal Amount/Description** | **Principal Amount/Description** | **Rate** | **Maturity** | **Value** |
|  | GSCG Trust |  |  |  |
| $675000 | Series 2019-600C<sup>(c)(e)</sup> | 3.99% | 09/06/2024 | $536051 |
|  | Hardee's Funding LLC |  |  |  |
| 957500 | Series 2018-1A<sup>(c)</sup> | 5.71% | 06/20/2028 | 884007 |
|  | Hawaii Hotel Trust |  |  |  |
| 1391000 | Series 2019-MAUI<sup>(c)(e)</sup> | 1M US L + 2.75% | 05/15/2038 | 1325436 |
|  | Hayfin Kingsland X, Ltd. |  |  |  |
| 500000 | Series 2021-1A<sup>(c)(e)</sup> | 3M US L + 1.85% | 04/28/2031 | 485554 |
|  | Highbridge Loan Management 3-2014 |  |  |  |
| 500000 | Series 2017-2014<sup>(c)(e)</sup> | 3M US L + 3.60% | 07/18/2029 | 448671 |
|  | Highbridge Loan Management 4-2014, Ltd. |  |  |  |
| 500000 | Series 2018-2014<sup>(c)(e)</sup> | 3M US L + 5.55% | 01/28/2030 | 413606 |
|  | Highbridge Loan Management, Ltd. |  |  |  |
| 500000 | Series 2017-2A<sup>(c)(e)</sup> | 3M US L + 6.60% | 10/20/2029 | 421459 |
| 2000000 | Series 2018-2015<sup>(c)(e)</sup> | 3M US L + 5.10% | 02/05/2031 | 1647441 |
| 500000 | Series 2018-2016<sup>(c)(e)</sup> | 3M US L + 2.90% | 07/20/2030 | 446388 |
|  | Horizon Aircraft Finance III, Ltd. |  |  |  |
| 889797 | Series 2019-2<sup>(c)</sup> | 3.43% | 11/15/2026 | 686542 |
|  | HPLY Trust |  |  |  |
| 1065065 | Series 2019-HIT<sup>(c)(e)</sup> | 1M US L + 3.90% | 11/17/2036 | 997715 |
|  | HSI Asset Securitization Corp. Trust |  |  |  |
| 5608727 | Series 2006-HE1<sup>(e)</sup> | 1M US L + 0.28% | 10/25/2036 | 1858789 |
| 1289371 | Series 2007-NC1<sup>(e)</sup> | 1M US L + 0.18% | 04/25/2037 | 896970 |
|  | ITE Rail Fund Levered LP |  |  |  |
| 912975 | Series 2021-1A<sup>(c)</sup> | 2.25% | 02/28/2051 | 767650 |
| 699172 | Series 2021-3A<sup>(c)</sup> | 2.21% | 06/28/2027 | 592875 |
|  | J.P. Morgan Chase Commercial Mortgage Securities Trust |  |  |  |
| 2092000 | Series 2018-AON<sup>(e)</sup> | 4.61% | 07/05/2023 | 1732436 |
|  | JP Morgan BB Commercial Mortgage Securities Trust |  |  |  |
| 2086000 | Series 2014-C23<sup>(c)(e)</sup> | 3.36% | 11/18/2048 | 1726045 |
| 4087559 | Series 2015-C28<sup>(e)(n)</sup> | 0.95% | 03/15/2025 | 61515 |
| 7475345 | Series 2015-C30<sup>(e)(n)</sup> | 0.43% | 07/15/2025 | 68968 |
| 2891346 | Series 2015-C31<sup>(e)(n)</sup> | 0.82% | 08/15/2025 | 51231 |
|  | JP Morgan Chase Commercial Mortgage Securities Trust |  |  |  |
| 1157000 | Series 2011-C3<sup>(c)(e)</sup> | 5.53% | 02/15/2046 | 518628 |
| 1010000 | Series 2018-WPT<sup>(c)(e)</sup> | 5.36% | 07/05/2023 | 863060 |
| 704000 | Series 2019-MFP<sup>(c)(e)</sup> | 1M US L + 3.00% | 07/15/2036 | 643738 |
| 235000 | Series 2019-UES<sup>(c)</sup> | 4.34% | 05/05/2032 | 218264 |
| 1135000 | Series 2019-UES<sup>(e)</sup> | 4.45% | 05/05/2032 | 1036928 |
|  | JP Morgan Mortgage Acquisition Corp. |  |  |  |
| 185594 | Series 2006-CH2<sup>(j)</sup> | 5.46% | 09/25/2029 | 118043 |
|  | JP Morgan Mortgage Acquisition Trust |  |  |  |
| 3469621 | Series 2006-RM1<sup>(e)</sup> | 1M US L + 0.48% | 08/25/2036 | 1593580 |
|  | JPMBB Commercial Mortgage Securities Trust |  |  |  |
| 17473689 | Series 2014-C24<sup>(e)(n)</sup> | 0.86% | 09/17/2047 | 180959 |
| 1110000 | Series 2014-C26<sup>(c)(e)</sup> | 3.87% | 12/15/2024 | 896685 |
| 519000 | Series 2015-C27<sup>(e)</sup> | 4.31% | 02/15/2025 | 471494 |
|  | JPMCC Commercial Mortgage Securities Trust |  |  |  |
| 486000 | Series 2017-JP7<sup>(e)</sup> | 3.63% | 07/15/2027 | 395988 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal Amount/Description** | **Principal Amount/Description** | **Rate** | **Maturity** | **Value** |
|  | Kestrel Aircraft Funding, Ltd. |  |  |  |
| $473439 | Series 2018-1A<sup>(c)</sup> | 4.25% | 10/15/2025 | $378066 |
|  | Laurel Road Prime Student Loan Trust |  |  |  |
| 18433349 | Series 2020-A<sup>(c)</sup> | 0.00% | 11/25/2050 | 1730025 |
|  | LCM 28, Ltd. |  |  |  |
| 1000000 | Series 2018-28A<sup>(c)(e)</sup> | 3M US L + 5.75% | 10/20/2030 | 771765 |
|  | LCM Loan Income Fund I Income Note Issuer, Ltd. |  |  |  |
| 500000 | Series 2018-27A<sup>(c)(e)</sup> | 3M US L + 5.60% | 07/16/2031 | 375741 |
|  | LCM XIV LP |  |  |  |
| 1000000 | Series 2018-14A<sup>(c)(e)</sup> | 3M US L + 2.75% | 07/20/2031 | 846928 |
| 750000 | Series 2018-14A<sup>(c)(e)</sup> | 3M US L + 5.50% | 07/20/2031 | 539103 |
|  | LCM XVII LP |  |  |  |
| 1000000 | Series 2018-17A<sup>(c)(e)</sup> | 3M US L + 6.00% | 10/15/2031 | 754685 |
|  | LCM XX LP |  |  |  |
| 1000000 | Series 2018-20A<sup>(c)(e)</sup> | 3M US L + 5.45% | 10/20/2027 | 917143 |
|  | LLPL Capital Pte, Ltd. |  |  |  |
| 1194480 | Series REGS<sup>(d)</sup> | 6.88% | 02/04/2039 | 1054917 |
|  | LSTAR Commercial Mortgage Trust |  |  |  |
| 1150000 | Series 2017-5<sup>(c)(e)</sup> | 4.67% | 03/10/2027 | 893396 |
|  | MACH 1 Cayman, Ltd. |  |  |  |
| 1018771 | Series 2019-1<sup>(c)</sup> | 3.47% | 08/15/2026 | 826225 |
|  | Madison Park Funding LII, Ltd. |  |  |  |
| 500000 | Series 2021-52A<sup>(c)(e)</sup> | 3M US L + 3.15% | 01/22/2035 | 451729 |
|  | Madison Park Funding XIV, Ltd. |  |  |  |
| 1000000 | Series 2018-14A<sup>(c)(e)</sup> | 3M US L + 5.80% | 10/22/2030 | 867653 |
|  | Madison Park Funding XLV, Ltd. |  |  |  |
| 600000 | Series 2021-45A<sup>(c)(e)</sup> | 3M US L + 6.35% | 07/15/2034 | 536527 |
|  | Madison Park Funding XXVI, Ltd. |  |  |  |
| 500000 | Series 2017-26A<sup>(c)(e)</sup> | 3M US L + 6.50% | 07/29/2030 | 460683 |
|  | Madison Park Funding XXXVIII, Ltd. |  |  |  |
| 1000000 | Series 2021-38A<sup>(c)(e)</sup> | 3M US L + 6.00% | 07/17/2034 | 873299 |
|  | Master Asset Backed Securities Trust |  |  |  |
| 4098587 | Series 2006-NC3<sup>(e)</sup> | 1M US L + 0.21% | 10/25/2036 | 2162076 |
|  | MBRT |  |  |  |
| 1406000 | Series 2019-MBR<sup>(c)(e)</sup> | 1M US L + 3.25% | 11/25/2021 | 1337002 |
|  | Med Trust |  |  |  |
| 1100000 | Series 2021-MDLN<sup>(c)(e)</sup> | 1M US L + 5.25% | 11/15/2023 | 999192 |
|  | Merrill Lynch Mortgage Investors Trust |  |  |  |
| 10095333 | Series 2006-RM3<sup>(e)</sup> | 1M US L + 0.48% | 06/25/2037 | 2227029 |
|  | MFT Trust |  |  |  |
| 2010000 | Series 2020-ABC<sup>(c)(e)</sup> | 3.48% | 02/10/2030 | 1244384 |
|  | MKT Mortgage Trust |  |  |  |
| 250000 | Series 2020-525M<sup>(c)(e)</sup> | 2.94% | 02/12/2030 | 136134 |
|  | Morgan Stanley Bank of America Merrill Lynch Trust |  |  |  |
| 822000 | Series 2015-C21<sup>(e)</sup> | 4.13% | 02/15/2025 | 688050 |
| 1292000 | Series 2016-C31<sup>(c)(e)</sup> | 3.00% | 10/15/2026 | 851444 |
| 1100000 | Series 2017-C34<sup>(c)</sup> | 2.70% | 10/15/2027 | 732827 |
|  | Morgan Stanley Capital I |  |  |  |
| 858000 | Series 2017-HR2<sup>(e)</sup> | 4.34% | 12/15/2027 | 728454 |
|  | Morgan Stanley Capital I Trust |  |  |  |
| 1104090 | Series 2016-UB11 XA<sup>(e)(n)</sup> | 1.44% | 08/15/2026 | 44927 |
| 765000 | Series 2018-H4<sup>(c)</sup> | 3.00% | 12/15/2028 | 488047 |
| 750000 | Series 2019-H7 | 4.13% | 07/15/2029 | 584062 |
| 826000 | Series 2021-L6<sup>(e)</sup> | 3.46% | 07/15/2031 | 593559 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal Amount/Description** | **Principal Amount/Description** | **Rate** | **Maturity** | **Value** |
| $10249000 | Series 2021-L7<sup>(c)(e)(n)</sup> | 0.92% | 10/15/2031 | $684162 |
|  | Morgan Stanley Mortgage Loan Trust |  |  |  |
| 340714 | Series 2007-3XS<sup>(j)</sup> | 6.20% | 01/25/2047 | 131359 |
|  | Mosaic Solar Loan Trust |  |  |  |
| 63517 | Series 2017-1A<sup>(c)</sup> | 4.45% | 06/20/2042 | 60851 |
| 268600 | Series 2018-1A<sup>(c)</sup> | 4.01% | 08/20/2030 | 248239 |
| 1666197 | Series 2020-1A<sup>(c)</sup> | 0.00% | 04/20/2046 | 1251507 |
| 479945 | Series 2020-2A<sup>(c)</sup> | 3.00% | 06/20/2025 | 435523 |
|  | MSCG Trust |  |  |  |
| 1490525 | Series 2018-SELF<sup>(c)(e)</sup> | 1M US L + 3.05% | 10/15/2037 | 1393088 |
|  | MVW 2021-1W LLC |  |  |  |
| 709952 | Series 2021-1WA<sup>(c)</sup> | 1.94% | 01/22/2041 | 637942 |
| 823545 | Series 2021-1WA<sup>(c)</sup> | 3.17% | 01/22/2041 | 726526 |
|  | Navient Private Education Refi Loan Trust |  |  |  |
| 500000 | Series 2018-A<sup>(c)</sup> | 3.68% | 11/17/2025 | 472808 |
|  | Octagon Investment Partners 20-R, Ltd. |  |  |  |
| 1500000 | Series 2019-4A<sup>(c)(e)</sup> | 3M US L + 6.80% | 05/12/2031 | 1287206 |
|  | Octagon Investment Partners 26, Ltd. |  |  |  |
| 1000000 | Series 2018-1A<sup>(c)(e)</sup> | 3M US L + 8.09% | 07/15/2030 | 781409 |
|  | Octagon Investment Partners 29, Ltd. |  |  |  |
| 500000 | Series 2020-1A<sup>(c)(e)</sup> | 3M US L + 3.10% | 01/24/2033 | 454293 |
| 2000000 | Series 2020-1A<sup>(c)(e)</sup> | 3M US L + 7.25% | 01/24/2033 | 1772014 |
|  | Octagon Investment Partners 37, Ltd. |  |  |  |
| 500000 | Series 2018-2A<sup>(c)(e)</sup> | 3M US L + 2.85% | 07/25/2030 | 445065 |
|  | Octagon Investment Partners 40, Ltd. |  |  |  |
| 500000 | Series 2021-1A<sup>(c)(e)</sup> | 3M US L + 7.00% | 01/20/2035 | 437869 |
|  | Octagon Investment Partners 42, Ltd. |  |  |  |
| 1000000 | Series 2021-3A<sup>(c)(e)</sup> | 3M US L + 6.75% | 07/15/2034 | 875854 |
|  | Octagon Investment Partners 46, Ltd. |  |  |  |
| 1000000 | Series 2021-2A<sup>(c)(e)</sup> | 3M US L + 6.60% | 07/15/2036 | 830494 |
|  | Octagon Investment Partners 49, Ltd. |  |  |  |
| 625000 | Series 2021-5A<sup>(c)(e)</sup> | 3M US L + 6.75% | 01/15/2033 | 574484 |
|  | Octagon Investment Partners XVI, Ltd. |  |  |  |
| 500000 | Series 2018-1A<sup>(c)(e)</sup> | 3M US L + 3.00% | 07/17/2030 | 434219 |
| 1000000 | Series 2018-1A<sup>(c)(e)</sup> | 3M US L + 5.75% | 07/17/2030 | 800998 |
|  | Octagon Investment Partners XXI, Ltd. |  |  |  |
| 1000000 | Series 2019-1A<sup>(c)(e)</sup> | 3M US L + 7.00% | 02/14/2031 | 888909 |
|  | Octagon Investment Partners XXII, Ltd. |  |  |  |
| 970000 | Series 2018-1A<sup>(c)(e)</sup> | 3M US L + 1.90% | 01/22/2030 | 914818 |
| 500000 | Series 2018-1A<sup>(c)(e)</sup> | 3M US L + 5.45% | 01/22/2030 | 411752 |
|  | OHA Credit Funding 3, Ltd. |  |  |  |
| 1000000 | Series 2021-3A<sup>(c)(e)</sup> | 3M US L + 2.90% | 07/02/2035 | 929782 |
| 2000000 | Series 2021-3A<sup>(c)(e)</sup> | 3M US L + 6.25% | 07/02/2035 | 1774331 |
|  | OHA Credit Funding 5, Ltd. |  |  |  |
| 2000000 | Series 2020-5A<sup>(c)(e)</sup> | 3M US L + 6.25% | 04/18/2033 | 1796902 |
|  | Pagaya AI Debt Selection Trust |  |  |  |
| 2500000 | Series 2020-3<sup>(c)</sup> | 6.43% | 05/17/2027 | 2454078 |
| 635239 | Series 2021-2<sup>(c)</sup> | 3.00% | 01/25/2029 | 591955 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal Amount/Description** | **Principal Amount/Description** | **Rate** | **Maturity** | **Value** |
| $2000000 | Series 2021-5<sup>(c)</sup> | 0.00% | 08/15/2029 | $1691040 |
|  | People's Choice Home Loan Securities Trust |  |  |  |
| 5000000 | Series 2005-4<sup>(e)</sup> | 1M US L + 0.65% | 12/25/2035 | 3030031 |
|  | Progress Residential |  |  |  |
| 2500000 | Series 2021-SFR3<sup>(c)</sup> | 4.75% | 05/17/2026 | 2130101 |
|  | Progress Residential |  |  |  |
| 6900000 | Series 2021-SFR8<sup>(c)</sup> | 4.01% | 10/17/2026 | 5746488 |
|  | RR 2, Ltd. |  |  |  |
| 1000000 | Series 2021-2A<sup>(c)(e)</sup> | 3M US L + 5.80% | 04/15/2036 | 874435 |
|  | RR 6, Ltd. |  |  |  |
| 1000000 | Series 2021-6A<sup>(c)(e)</sup> | 3M US L + 5.85% | 04/15/2036 | 845194 |
|  | Sapphire Aviation Finance I, Ltd. |  |  |  |
| 2144720 | Series 2018-1A<sup>(c)</sup> | 5.93% | 03/15/2025 | 1388854 |
|  | Sapphire Aviation Finance II, Ltd. |  |  |  |
| 373315 | Series 2020-1A<sup>(c)</sup> | 3.23% | 03/15/2027 | 283238 |
|  | SG Commercial Mortgage Securities Trust |  |  |  |
| 654000 | Series 2016-C5 | 3.93% | 06/10/2026 | 562444 |
|  | Signal Rail I LLC |  |  |  |
| 475423 | Series 2021-1<sup>(c)</sup> | 2.23% | 08/17/2028 | 392544 |
|  | S-Jets, Ltd. |  |  |  |
| 851635 | Series 2017-1<sup>(c)</sup> | 3.97% | 08/15/2025 | 657668 |
|  | SLG Office Trust |  |  |  |
| 1100000 | Series 2021-OVA | 2.85% | 07/15/2031 | 745734 |
|  | SMB Private Education Loan Trust |  |  |  |
| 234310 | Series 2018-B<sup>(c)(e)</sup> | 1M US L + 0.72% | 08/15/2027 | 229198 |
| 968 | Series 2021-A<sup>(c)</sup> | 0.00% | 01/15/2053 | 2364490 |
|  | SMR Mortgage Trust |  |  |  |
| 964590 | Series 2022-IND<sup>(c)(e)</sup> | 1M US SOFR + 7.50% | 02/15/2024 | 877128 |
|  | Sofi Alternative Consumer Loan Program |  |  |  |
| 50000 | Series 2021-2<sup>(c)</sup> | 0.00% | 08/15/2030 | 1214026 |
|  | Sofi Professional Loan Program Trust |  |  |  |
| 80000 | Series 2018-C<sup>(c)</sup> | 0.00% | 01/25/2048 | 1124418 |
|  | SoFi Professional Loan Program Trust |  |  |  |
| 50000 | Series 2020-A<sup>(c)</sup> | 0.00% | 05/15/2046 | 1547914 |
|  | Sofi Professional Loan Program, LLC |  |  |  |
| 32412 | Series 2018-A | 0.00% | 02/25/2042 | 581608 |
|  | SoFi Professional Loan Program, LLC |  |  |  |
| 300000 | Series 2017-D<sup>(c)</sup> | 3.61% | 09/25/2040 | 260966 |
|  | Sprite, Ltd. |  |  |  |
| 450760 | Series 2021-1<sup>(c)</sup> | 3.75% | 10/15/2028 | 391704 |
|  | SREIT Trust |  |  |  |
| 1150000 | Series 2021-MFP2<sup>(c)(e)</sup> | 1M US L + 3.9155% | 11/15/2023 | 1064344 |
|  | Start, Ltd. |  |  |  |
| 493572 | Series 2018-1<sup>(c)</sup> | 4.09% | 05/15/2025 | 422284 |
|  | Sunnova Helios VII Issuer LLC |  |  |  |
| 1146619 | Series 2021-C<sup>(c)</sup> | 2.63% | 10/20/2028 | 913953 |
|  | Sunnova Sol III Issuer LLC |  |  |  |
| 1374973 | Series 2021-1<sup>(c)</sup> | 2.58% | 04/30/2031 | 1050502 |
|  | Sunnova Sol Issuer LLC |  |  |  |
| 918078 | Series 2020-1A<sup>(c)</sup> | 3.35% | 01/30/2030 | 765050 |
|  | Thunderbolt Aircraft Lease, Ltd. |  |  |  |
| 1505316 | Series 2017-A<sup>(c)(j)</sup> | 4.21% | 04/15/2024 | 1294899 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal Amount/Description** | **Principal Amount/Description** | **Rate** | **Maturity** | **Value** |
|  | Thunderbolt II Aircraft Lease, Ltd. |  |  |  |
| $4464286 | Series 2018-A<sup>(c)(j)</sup> | 5.07% | 09/15/2038 | $2617987 |
|  | TIF Funding II LLC |  |  |  |
| 340583 | Series 2021-1A<sup>(c)</sup> | 1.65% | 02/20/2046 | 283127 |
|  | Tricon Residential |  |  |  |
| 3700000 | Series 2021-SFR1<sup>(c)</sup> | 4.13% | 07/17/2026 | 3082796 |
|  | Trimaran Cavu 2019-1, Ltd. |  |  |  |
| 1700000 | Series 2019-1A<sup>(c)(e)</sup> | 3M US L + 4.15% | 07/20/2032 | 1538306 |
|  | UBS Commercial Mortgage Trust |  |  |  |
| 31908500 | Series 2017-C3<sup>(e)(n)</sup> | 0.43% | 08/15/2050 | 594851 |
| 650000 | Series 2017-C4<sup>(e)</sup> | 4.24% | 09/15/2027 | 567780 |
| 520000 | Series 2018-C10<sup>(e)</sup> | 5.06% | 05/15/2028 | 441561 |
| 928000 | Series 2018-C9<sup>(e)</sup> | 4.95% | 03/15/2028 | 786208 |
|  | UBS-Barclays Commercial Mortgage Trust |  |  |  |
| 1993000 | Series 2013-C5<sup>(e)</sup> | 4.08% | 03/12/2046 | 1519966 |
|  | Upstart Pass-Through Trust |  |  |  |
| 178946 | Series 2021-ST1<sup>(c)</sup> | 2.75% | 02/20/2027 | 170384 |
| 393852 | Series 2021-ST2<sup>(c)</sup> | 2.50% | 04/20/2027 | 368417 |
|  | Upstart Securitization Trust |  |  |  |
| 173649 | Series 2020-3<sup>(c)</sup> | 3.01% | 11/20/2030 | 172380 |
| 2000 | Series 2021-2 | 0.00% | 06/20/2031 | 446619 |
|  | US Auto Funding 2021-1 |  |  |  |
| 1125000 | Series 2021-1A<sup>(c)</sup> | 2.20% | 05/15/2026 | 1068617 |
|  | Vault DI Issuer LLC |  |  |  |
| 750000 | Series 2021-1A<sup>(c)</sup> | 2.80% | 07/15/2026 | 637316 |
|  | Velocity Commercial Capital Loan Trust |  |  |  |
| 268457 | Series 2018-2<sup>(c)(e)</sup> | 4.05% | 09/25/2024 | 257504 |
| 570899 | Series 2019-1<sup>(c)(e)</sup> | 3.94% | 01/25/2027 | 491357 |
| 259948 | Series 2019-1<sup>(c)(e)</sup> | 4.01% | 07/25/2027 | 219408 |
| 211989 | Series 2019-1<sup>(c)(e)</sup> | 4.12% | 11/25/2027 | 173520 |
| 1406099 | Series 2021-2<sup>(c)(e)</sup> | 4.92% | 12/25/2030 | 1013882 |
|  | VOLT XCVI LLC |  |  |  |
| 4000000 | Series 2021-NPL5<sup>(c)(j)</sup> | 4.83% | 03/27/2051 | 3316120 |
|  | Wachovia Bank Commercial Mortgage Trust |  |  |  |
| 19192 | Series 2006-C29<sup>(e)(n)</sup> | 0.17% | 11/15/2048 | 8 |
|  | WAVE LLC |  |  |  |
| 1117711 | Series 2019-1<sup>(c)</sup> | 7.00% | 09/15/2044 | 593600 |
|  | Wells Fargo Commercial Mortgage Trust |  |  |  |
| 1539000 | Series 2015-C28<sup>(e)</sup> | 4.08% | 05/15/2025 | 1307327 |
| 1245000 | Series 2015-NXS4<sup>(e)</sup> | 3.69% | 11/15/2025 | 1059189 |
| 1000000 | Series 2016-C33<sup>(c)</sup> | 3.12% | 03/15/2059 | 785875 |
| 5628945 | Series 2016-C37<sup>(c)(e)(n)</sup> | 1.60% | 12/15/2049 | 258955 |
| 356000 | Series 2016-NXS6 | 3.81% | 11/15/2049 | 313711 |
| 523000 | Series 2018-C47<sup>(e)</sup> | 4.93% | 10/15/2028 | 437648 |
| 134000 | Series 2020-C55 | 3.14% | 02/15/2030 | 104598 |
| 830000 | Series 2021-C61 | 3.31% | 07/15/2031 | 599769 |
|  | WF-RBS Commercial Mortgage Trust |  |  |  |
| 2883940 | Series 2014-C21<sup>(e)(n)</sup> | 1.00% | 08/15/2047 | 37354 |
| 3623148 | Series 2014-C22<sup>(e)(n)</sup> | 0.78% | 09/15/2057 | 34256 |
|  | Willis Engine Structured Trust V |  |  |  |
| 844262 | Series 2020-A<sup>(c)</sup> | 3.23% | 03/15/2028 | 645549 |
|  | Willis Engine Structured Trust VI |  |  |  |
| 2362872 | Series 2021-A<sup>(c)</sup> | 7.39% | 05/15/2046 | 1946895 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Principal Amount/Description** | **Principal Amount/Description** | **Principal Amount/Description** | **Rate** | **Maturity** | **Value** | **Value** |
| $| 1534056 | Zephyrus Capital Aviation Tl<sup>(e)</sup> | 1M US L + 4.61% | 10/15/2038 | $| 1258489 |
| TOTAL NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS | TOTAL NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS | TOTAL NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS | TOTAL NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS | TOTAL NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS | TOTAL NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS | TOTAL NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS |
|  | (Cost $310,137,587) |  |  |  |  | 244847624 |
| **U.S. GOVERNMENT BONDS AND NOTES - 9.88%** | **U.S. GOVERNMENT BONDS AND NOTES - 9.88%** | **U.S. GOVERNMENT BONDS AND NOTES - 9.88%** | **U.S. GOVERNMENT BONDS AND NOTES - 9.88%** | **U.S. GOVERNMENT BONDS AND NOTES - 9.88%** | **U.S. GOVERNMENT BONDS AND NOTES - 9.88%** | **U.S. GOVERNMENT BONDS AND NOTES - 9.88%** |
|  | 19940000 | U.S. Treasury Bonds | 2.88% | 05/15/2032 |  | 18382187 |
|  | 11910000 | U.S. Treasury Bonds | 4.13% | 11/15/2032 |  | 12156574 |
|  | 1130000 | U.S. Treasury Bonds | 2.25% | 05/15/2041 |  | 850104 |
|  | 1620000 | U.S. Treasury Bonds | 3.25% | 05/15/2042 |  | 1421044 |
|  | 325000 | U.S. Treasury Bonds | 4.00% | 11/15/2042 |  | 318297 |
|  | 62200000 | U.S. Treasury Bonds | 1.25% | 05/15/2050 |  | 33496887 |
|  | 32000000 | U.S. Treasury Bonds | 1.63% | 11/15/2050 |  | 19051875 |
|  | 940000 | U.S. Treasury Bonds | 2.88% | 05/15/2052 |  | 753469 |
|  | 1660000 | U.S. Treasury Bonds | 3.00% | 08/15/2052 |  | 1368203 |
|  | 10315000 | U.S. Treasury Bonds | 4.00% | 11/15/2052 |  | 10332729 |
|  | 790000 | U.S. Treasury Notes | 0.25% | 09/30/2023 |  | 763766 |
|  | 320000 | U.S. Treasury Notes | 3.00% | 06/30/2024 |  | 312375 |
|  | 3170000 | U.S. Treasury Notes | 3.25% | 08/31/2024 |  | 3104247 |
|  | 360000 | U.S. Treasury Notes | 3.00% | 07/15/2025 |  | 348750 |
|  | 350000 | U.S. Treasury Notes | 3.13% | 08/15/2025 |  | 339855 |
|  | 4120000 | U.S. Treasury Notes | 4.50% | 11/15/2025 |  | 4145428 |
|  | 320000 | U.S. Treasury Notes | 3.25% | 06/30/2027 |  | 309525 |
|  | 200000 | U.S. Treasury Notes | 2.75% | 07/31/2027 |  | 189250 |
|  | 170000 | U.S. Treasury Notes | 4.13% | 09/30/2027 |  | 170651 |
|  | 2620000 | U.S. Treasury Notes | 4.13% | 10/31/2027 |  | 2629825 |
|  | 1120000 | U.S. Treasury Notes | 1.25% | 03/31/2028 |  | 973700 |
|  | 250000 | U.S. Treasury Notes | 3.25% | 06/30/2029 |  | 239297 |
|  | 3290000 | U.S. Treasury Notes | 2.63% | 07/31/2029 |  | 3030206 |
|  | 1740000 | U.S. Treasury Notes | 3.88% | 12/31/2029 |  | 1731708 |
| TOTAL U.S. GOVERNMENT BONDS AND NOTES | TOTAL U.S. GOVERNMENT BONDS AND NOTES | TOTAL U.S. GOVERNMENT BONDS AND NOTES | TOTAL U.S. GOVERNMENT BONDS AND NOTES | TOTAL U.S. GOVERNMENT BONDS AND NOTES | TOTAL U.S. GOVERNMENT BONDS AND NOTES | TOTAL U.S. GOVERNMENT BONDS AND NOTES |
| (Cost $128,589,317) | (Cost $128,589,317) | (Cost $128,589,317) |  |  |  | 116419952 |
| **MUNICIPAL BONDS - 0.02%** | **MUNICIPAL BONDS - 0.02%** | **MUNICIPAL BONDS - 0.02%** | **MUNICIPAL BONDS - 0.02%** | **MUNICIPAL BONDS - 0.02%** | **MUNICIPAL BONDS - 0.02%** | **MUNICIPAL BONDS - 0.02%** |
|  | 165000 | State of California, General Obligation Bonds | 7.55% | 04/01/2039 |  | 206937 |
| TOTAL MUNICIPAL BONDS | TOTAL MUNICIPAL BONDS | TOTAL MUNICIPAL BONDS | TOTAL MUNICIPAL BONDS | TOTAL MUNICIPAL BONDS | TOTAL MUNICIPAL BONDS | TOTAL MUNICIPAL BONDS |
| (Cost $233,148) | (Cost $233,148) | (Cost $233,148) |  |  |  | 206937 |
| **U.S. GOVERNMENT / AGENCY MORTGAGE BACKED SECURITIES - 21.40%** | **U.S. GOVERNMENT / AGENCY MORTGAGE BACKED SECURITIES - 21.40%** | **U.S. GOVERNMENT / AGENCY MORTGAGE BACKED SECURITIES - 21.40%** | **U.S. GOVERNMENT / AGENCY MORTGAGE BACKED SECURITIES - 21.40%** | **U.S. GOVERNMENT / AGENCY MORTGAGE BACKED SECURITIES - 21.40%** | **U.S. GOVERNMENT / AGENCY MORTGAGE BACKED SECURITIES - 21.40%** | **U.S. GOVERNMENT / AGENCY MORTGAGE BACKED SECURITIES - 21.40%** |
|  |  | Adjustable Rate Mortgage Trust |  |  |  |  |
|  | 2096871 | Series 2005-10<sup>(e)</sup> | 3.85% | 01/25/2036 |  | 1645585 |
|  |  | Alternative Loan Trust |  |  |  |  |
|  | 141133 | Series 2005-20CB | 5.50% | 07/25/2035 |  | 109339 |
|  | 62405 | Series 2005-54CB | 5.50% | 11/25/2035 |  | 36361 |
|  | 668828 | Series 2005-85CB<sup>(e)</sup> | 1M US L + 1.10% | 02/25/2036 |  | 548621 |
|  | 141246 | Series 2005-85CB<sup>(e)</sup> | 21.63% - 3.67 x 1M US L | 02/25/2036 |  | 114256 |
|  | 190637 | Series 2005-86CB | 5.50% | 02/25/2036 |  | 122029 |
|  | 155334 | Series 2005-9CB<sup>(e)</sup> | 1M US L + 0.50% | 05/25/2035 |  | 136542 |
|  | 275873 | Series 2005-9CB<sup>(e)(n)</sup> | 5.05% - 1M US L | 05/25/2035 |  | 6795 |
|  | 1036144 | Series 2006-15CB | 6.50% | 06/25/2036 |  | 519718 |
|  | 108471 | Series 2006-30T1 | 6.25% | 11/25/2036 |  | 80801 |
|  | 98812 | Series 2006-32CB | 5.50% | 11/25/2036 |  | 56171 |
|  | 222535 | Series 2006-36T2<sup>(e)</sup> | 28.06% - 4.6 x 1M US L | 12/25/2036 |  | 168566 |
|  | 808924 | Series 2007-19 | 6.00% | 08/25/2037 |  | 421763 |
|  | 2728927 | Series 2007-20 | 6.25% | 08/25/2047 |  | 1551516 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal Amount/Description** | **Principal Amount/Description** | **Rate** | **Maturity** | **Value** |
| $776885 | Series 2007-23CB<sup>(e)</sup> | 1M US L + 0.50% | 09/25/2037 | $352274 |
| 741795 | Series 2007-23CB<sup>(e)(n)</sup> | 6.50% - 1M US L | 09/25/2037 | 130076 |
|  | American Home Mortgage Investment Trust |  |  |  |
| 157985 | Series 2007-A<sup>(c)(j)</sup> | 6.60% | 01/25/2037 | 30757 |
|  | Banc of America Funding |  |  |  |
| 1701656 | Series 2014-R8<sup>(c)(e)</sup> | 1M US L + 0.24% | 12/26/2024 | 1420213 |
|  | Banc of America Funding Trust |  |  |  |
| 59378 | Series 2006-2 | 5.50% | 03/25/2036 | 56029 |
|  | BCAP, LLC Trust |  |  |  |
| 100453 | Series 2007-AA2<sup>(e)</sup> | 7.50% | 04/25/2037 | 59497 |
| 65176 | Series 2007-AA2 | 6.00% | 04/25/2037 | 33944 |
| 4862118 | Series 2010-RR6<sup>(c)(e)</sup> | 3.62% | 07/26/2036 | 2646894 |
|  | Bear Stearns ALT-A Trust |  |  |  |
| 6298924 | Series 2006-3<sup>(e)</sup> | 3.17% | 05/25/2036 | 4852956 |
| 789446 | Series 2006-6<sup>(e)</sup> | 3.67% | 11/25/2036 | 366534 |
|  | Bear Stearns Asset-Backed Securities Trust |  |  |  |
| 1475954 | Series 2006-AC1<sup>(j)</sup> | 6.25% | 02/25/2036 | 777970 |
|  | Bear Stearns Structured Products, Inc. |  |  |  |
| 7152604 | Series 2008-R2<sup>(c)(e)</sup> | 3.25% | 06/25/2047 | 5144890 |
|  | Chase Mortgage Finance Trust |  |  |  |
| 3219320 | Series 2007-S2 | 6.00% | 03/25/2037 | 1748597 |
| 340649 | Series 2007-S3 | 5.50% | 05/25/2037 | 80576 |
| 4305504 | Series 2007-S4 | 6.00% | 06/25/2037 | 2199772 |
|  | ChaseFlex Trust Series |  |  |  |
| 3500130 | Series 2007-M1<sup>(e)</sup> | 1M US L + 0.23% | 08/25/2037 | 2966979 |
|  | Citicorp Mortgage Securities Trust |  |  |  |
| 341686 | Series 2007-1 | 6.00% | 01/25/2037 | 285625 |
|  | Citigroup Mortgage Loan Trust |  |  |  |
| 80705 | Series 2009-12<sup>(c)</sup> | 5.50% | 11/25/2035 | 64268 |
| 221672 | Series 2009-4<sup>(c)(e)</sup> | 5.48% | 05/25/2035 | 194195 |
|  | CitiMortgage Alternative Loan Trust |  |  |  |
| 335168 | Series 2007-A1 | 6.00% | 01/25/2037 | 295932 |
| 66019 | Series 2007-A1<sup>(e)(n)</sup> | 5.40% - 1M US L | 01/25/2037 | 2532 |
| 46933 | Series 2007-A3<sup>(e)</sup> | 6.00% | 03/25/2037 | 41288 |
| 108007 | Series 2007-A3<sup>(e)(n)</sup> | 5.40% - 1M US L | 03/25/2037 | 5788 |
| 340752 | Series 2007-A6 | 5.50% | 06/25/2037 | 275886 |
|  | Connecticut Avenue Securities Trust |  |  |  |
| 4231450 | Series 2019-R05<sup>(c)(e)</sup> | 1M US L + 4.10% | 07/25/2039 | 4291050 |
| 4250000 | Series 2022-R02<sup>(c)(e)</sup> | 30D US SOFR + 7.65% | 01/25/2027 | 3852489 |
| 3685000 | Series 2022-R03<sup>(c)(e)</sup> | 30D US SOFR + 9.85% | 03/25/2042 | 3656401 |
|  | Countrywide Home Loan Mortgage Pass-Through Trust |  |  |  |
| 1235108 | Series 2005-HYB7<sup>(e)</sup> | 3.63% | 11/20/2035 | 1090936 |
| 24659 | Series 2005-J4 | 5.50% | 11/25/2035 | 19601 |
| 1205868 | Series 2006-18 | 6.00% | 12/25/2036 | 687660 |
| 143871 | Series 2007-17 | 6.00% | 10/25/2037 | 109109 |
| 204572 | Series 2007-3 | 6.00% | 04/25/2037 | 110299 |
| 232600 | Series 2007-7 | 5.75% | 06/25/2037 | 125766 |
|  | Credit Suisse First Boston Mortgage Securities Corp. |  |  |  |
| 47107 | Series 2005-10 | 5.50% | 11/25/2035 | 35797 |
| 28922 | Series 2005-8 | 5.50% | 08/25/2025 | 23633 |
| 4001489 | Series 2005-9 | 6.00% | 10/25/2035 | 1297521 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal Amount/Description** | **Principal Amount/Description** | **Rate** | **Maturity** | **Value** |
|  | Credit Suisse Mortgage Capital Certificates |  |  |  |
| $1727905 | Series 2006-2 | 5.75% | 03/25/2036 | $929813 |
|  | CSMC |  |  |  |
| 900000 | Series 2021-NQM6<sup>(c)(e)</sup> | 2.58% | 07/25/2066 | 478357 |
|  | CSMC Mortgage-Backed Trust |  |  |  |
| 143580 | Series 2006-1 | 6.00% | 02/25/2036 | 48339 |
| 13043 | Series 2006-4 | 5.50% | 05/25/2021 | 6959 |
| 786695 | Series 2006-5 | 6.25% | 06/25/2036 | 181326 |
| 64183 | Series 2006-9 | 6.00% | 11/25/2036 | 41824 |
| 4533 | Series 2007-2 | 5.00% | 03/25/2037 | 3514 |
| 459243 | Series 2007-3<sup>(e)</sup> | 5.84% | 04/25/2037 | 116792 |
|  | Deutsche Alt-A Securities, Inc. Mortgage Loan Trust |  |  |  |
| 185949 | Series 2005-6<sup>(e)(n)</sup> | 5.08% - 1M US L | 12/25/2035 | 9598 |
| 81557 | Series 2005-6<sup>(e)</sup> | 1M US L + 1.40% | 12/25/2035 | 64180 |
|  | Deutsche Mortgage Securities, Inc. Mortgage Loan Trust |  |  |  |
| 112229 | Series 2006-PR1<sup>(c)(e)</sup> | 12.12% - 1M US L | 04/15/2036 | 98160 |
|  | Fannie Mae Interest Strip |  |  |  |
| 6537132 | Series 2014-419<sup>(n)</sup> | 3.50% | 04/25/2044 | 1013128 |
|  | Fannie Mae Pool |  |  |  |
| 4257265 | Series 2021- | 3.00% | 10/01/2046 | 3811685 |
| 2114614 | Series 2021- | 3.00% | 12/01/2048 | 1885362 |
| 1742723 | Series 2021- | 4.00% | 05/01/2049 | 1661651 |
| 2242671 | Series 2021- | 4.00% | 06/01/2049 | 2144039 |
| 1442026 | Series 2021- | 2.50% | 05/01/2051 | 1226400 |
| 3313477 | Series 2021- | 3.50% | 07/01/2051 | 3045420 |
| 2502094 | Series 2021- | 2.50% | 12/01/2051 | 2125978 |
| 3657075 | Series 2022- | 3.50% | 11/01/2050 | 3357792 |
| 1666874 | Series 2022- | 5.00% | 07/01/2052 | 1645385 |
| 3000000 | Series Pool #BL4424 | 2.14% | 10/01/2029 | 2607987 |
| 3000000 | Series Pool #BL5156 | 2.37% | 12/01/2029 | 2628855 |
|  | Fannie Mae REMICS |  |  |  |
| 5822745 | Series 2014-1<sup>(e)(n)</sup> | 5.90% - 1M US L | 02/25/2044 | 600183 |
| 6235049 | Series 2015-54<sup>(e)(n)</sup> | 6.15% - 1M US L | 07/25/2045 | 661548 |
| 9305076 | Series 2020-74<sup>(e)(n)</sup> | 4.10% - 30D US SOFR | 10/25/2050 | 396911 |
| 19373164 | Series 2020-77<sup>(e)(n)</sup> | 4.10% - 30D SOFR | 11/25/2050 | 704547 |
| 2245742 | Series 2021-48<sup>(e)</sup> | 3.65% - 30D US SOFR | 08/25/2051 | 59159 |
| 15676910 | Series 2021-56<sup>(n)</sup> | 2.50% | 09/25/2051 | 2013411 |
|  | Federal Home Loan Mortgage Corp. Pool |  |  |  |
| 123783 | Series Pool #G01840 | 5.00% | 07/01/2035 | 126666 |
| 45189 | Series Pool #G04817 | 5.00% | 09/01/2038 | 46160 |
|  | Federal Home Loan Mortgage Corp. REMICS |  |  |  |
| 641040 | Series 2003-2722<sup>(e)</sup> | 9.89% - 1M US L | 12/15/2033 | 635707 |
| 115879 | Series 2005-R003 | 5.50% | 10/15/2035 | 117958 |
| 934586 | Series 2006-3244<sup>(e)(n)</sup> | 6.66% - 1M US L | 11/15/2036 | 83772 |
| 45742 | Series 2007-3261<sup>(e)(n)</sup> | 6.43% - 1M US L | 01/15/2037 | 3467 |
| 95121 | Series 2007-3262<sup>(e)(n)</sup> | 6.40% - 1M US L | 01/15/2037 | 4779 |
| 360018 | Series 2007-3301<sup>(e)(n)</sup> | 6.10% - 1M US L | 04/15/2037 | 26430 |
| 257669 | Series 2007-3303<sup>(e)(n)</sup> | 6.10% - 1M US L | 04/15/2037 | 20718 |
| 62994 | Series 2007-3382<sup>(e)(n)</sup> | 6.00% - 1M US L | 11/15/2037 | 3796 |
| 231517 | Series 2007-3384<sup>(e)(n)</sup> | 6.31% - 1M US L | 08/15/2036 | 19190 |
| 73821 | Series 2007-3384<sup>(e)(n)</sup> | 6.39% - 1M US L | 11/15/2037 | 4139 |
| 39740 | Series 2008-3417<sup>(e)(n)</sup> | 6.18% - 1M US L | 02/15/2038 | 2637 |
| 1730802 | Series 2008-3423<sup>(e)(n)</sup> | 6.00% - 1M US L | 03/15/2038 | 7985 |
| 105518 | Series 2008-3423<sup>(e)(n)</sup> | 5.65% - 1M US L | 03/15/2038 | 5501 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal Amount/Description** | **Principal Amount/Description** | **Rate** | **Maturity** | **Value** |
| $875795 | Series 2009-3510<sup>(e)</sup> | 6.75% - 1M US L | 02/15/2037 | $64418 |
| 236550 | Series 2009-3523<sup>(e)(n)</sup> | 6.00% - 1M US L | 04/15/2039 | 14873 |
| 43087 | Series 2009-3524<sup>(e)</sup> | 3.41% | 06/15/2038 | 40532 |
| 3651 | Series 2009-3549<sup>(e)(n)</sup> | 5.80% - 1M US L | 07/15/2039 | 247 |
| 480832 | Series 2009-3560<sup>(e)</sup> | 6.40% - 1M US L | 11/15/2036 | 19729 |
| 150141 | Series 2010-3641 | 4.50% | 03/15/2040 | 146936 |
| 232226 | Series 2010-3726<sup>(e)(n)</sup> | 6.05% - 1M US L | 09/15/2040 | 19653 |
| 727047 | Series 2010-3728<sup>(e)(n)</sup> | 4.45% - 1M US L | 09/15/2040 | 20412 |
| 324586 | Series 2010-3779 | 3.50% | 12/15/2030 | 313158 |
| 64362 | Series 2010-3779 | 4.00% | 12/15/2030 | 62977 |
| 249261 | Series 2010-3779 | 4.50% | 12/15/2040 | 239655 |
| 27133 | Series 2011-3786<sup>(e)</sup> | 9.50% - 1M US L | 01/15/2041 | 19720 |
| 203031 | Series 2011-3808 | 3.50% | 02/15/2031 | 195775 |
| 498993 | Series 2011-3815<sup>(e)(n)</sup> | 5.85% - 1M US L | 02/15/2041 | 39160 |
| 175768 | Series 2011-3824 | 3.50% | 03/15/2031 | 169470 |
| 251290 | Series 2011-3824<sup>(e)</sup> | 7.10% - 1M US L | 08/15/2036 | 29907 |
| 286353 | Series 2011-3863 | 5.50% | 08/15/2034 | 290328 |
| 302749 | Series 2011-3864<sup>(e)</sup> | 9.20% - 1M US L | 05/15/2041 | 220650 |
| 304861 | Series 2011-3871 | 5.50% | 06/15/2041 | 310341 |
| 277301 | Series 2011-3872<sup>(e)(n)</sup> | 5.95% - 1M US L | 06/15/2041 | 19289 |
| 1925563 | Series 2011-3910 | 5.00% | 08/15/2041 | 1943840 |
| 1266092 | Series 2011-3924<sup>(e)(n)</sup> | 6.00% - 1M US L | 09/15/2041 | 67492 |
| 1594805 | Series 2012-3<sup>(e)(n)</sup> | 5.95% - 1M US L | 02/25/2042 | 139208 |
| 953506 | Series 2013-4170<sup>(e)</sup> | 4.05% - 1M US L | 01/15/2033 | 814742 |
| 2097207 | Series 2013-4239 | 0.00% | 07/15/2043 | 1239604 |
| 2813923 | Series 2014-4413 | 3.50% | 11/15/2044 | 2611342 |
| 3793614 | Series 2015-4434 | 3.00% | 02/15/2045 | 3191143 |
| 3648229 | Series 2015-4440 | 2.50% | 02/15/2045 | 3100687 |
|  | Federal National Mortgage Association Pool |  |  |  |
| 34140 | Series Pool #555743 | 5.00% | 09/01/2033 | 34896 |
| 39817 | Series Pool #735382 | 5.00% | 04/01/2035 | 40699 |
| 111870 | Series Pool #735383 | 5.00% | 04/01/2035 | 114348 |
| 71020 | Series Pool #735484 | 5.00% | 05/01/2035 | 72593 |
| 19304 | Series Pool #AH4437 | 4.00% | 01/01/2041 | 17847 |
|  | Federal National Mortgage Association REMICS |  |  |  |
| 27529 | Series 2004-46<sup>(e)</sup> | 6.00% - 1M US L | 03/25/2034 | 488 |
| 144823 | Series 2006-101<sup>(e)(n)</sup> | 6.58% - 1M US L | 10/25/2036 | 13069 |
| 406457 | Series 2006-123<sup>(e)(n)</sup> | 6.32% - 1M US L | 01/25/2037 | 36657 |
| 1942380 | Series 2006-92<sup>(e)(n)</sup> | 6.58% - 1M US L | 10/25/2036 | 149159 |
| 54572 | Series 2007-102<sup>(e)(n)</sup> | 6.40% - 1M US L | 11/25/2037 | 3361 |
| 39032 | Series 2007-108<sup>(e)(n)</sup> | 6.36% - 1M US L | 12/25/2037 | 2470 |
| 8257 | Series 2007-30<sup>(e)(n)</sup> | 6.11% - 1M US L | 04/25/2037 | 444 |
| 232236 | Series 2007-38<sup>(e)(n)</sup> | 6.08% - 1M US L | 05/25/2037 | 11490 |
| 9691 | Series 2007-51<sup>(e)(n)</sup> | 6.10% - 1M US L | 06/25/2037 | 493 |
| 28247 | Series 2007-53<sup>(e)(n)</sup> | 6.10% - 1M US L | 06/25/2037 | 1536 |
| 286773 | Series 2007-57<sup>(e)(n)</sup> | 6.62% - 1M US L | 10/25/2036 | 24074 |
| 59885 | Series 2007-68<sup>(e)(n)</sup> | 6.65% - 1M US L | 07/25/2037 | 4348 |
| 384482 | Series 2008-3<sup>(e)(n)</sup> | 6.46% - 1M US L | 02/25/2038 | 28304 |
| 36753 | Series 2008-56<sup>(e)(n)</sup> | 6.06% - 1M US L | 07/25/2038 | 1448 |
| 10481 | Series 2008-81 | 5.50% | 09/25/2038 | 10388 |
| 124673 | Series 2009-111 | 5.00% | 01/25/2040 | 122973 |
| 63029 | Series 2009-111<sup>(e)(n)</sup> | 6.25% - 1M US L | 01/25/2040 | 5727 |
| 568361 | Series 2009-12<sup>(e)(n)</sup> | 6.60% - 1M US L | 03/25/2036 | 37388 |
| 15538 | Series 2009-28<sup>(e)</sup> | 6.00% - 1M US L | 04/25/2037 | 748 |
| 137236 | Series 2009-41 | 4.50% | 06/25/2039 | 130064 |
| 42412 | Series 2009-42<sup>(e)(n)</sup> | 6.00% - 1M US L | 06/25/2039 | 3020 |
| 86365 | Series 2009-47<sup>(e)(n)</sup> | 6.10% - 1M US L | 07/25/2039 | 4267 |
| 38253 | Series 2009-62<sup>(e)(n)</sup> | 6.10% - 1M US L | 08/25/2039 | 1387 |
| 38983 | Series 2009-66<sup>(e)</sup> | 5.80% - 1M US L | 02/25/2038 | 1427 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal Amount/Description** | **Principal Amount/Description** | **Rate** | **Maturity** | **Value** |
| $28279 | Series 2009-68<sup>(e)(n)</sup> | 5.25% - 1M US L | 09/25/2039 | $1071 |
| 98773 | Series 2010-11<sup>(e)(n)</sup> | 4.80% - 1M US L | 02/25/2040 | 3790 |
| 18379 | Series 2010-111<sup>(e)(n)</sup> | 6.00% - 1M US L | 10/25/2040 | 980 |
| 50305 | Series 2010-112 | 4.00% | 10/25/2040 | 47287 |
| 75703 | Series 2010-115<sup>(e)</sup> | 6.60% - 1M US L | 11/25/2039 | 6548 |
| 995320 | Series 2010-115<sup>(e)(n)</sup> | 6.00% - 1M US L | 10/25/2040 | 92773 |
| 2319455 | Series 2010-123<sup>(e)(n)</sup> | 6.05% - 1M US L | 11/25/2040 | 207690 |
| 401625 | Series 2010-15<sup>(e)(n)</sup> | 4.95% - 1M US L | 03/25/2040 | 18744 |
| 22860 | Series 2010-34<sup>(e)(n)</sup> | 4.93% - 1M US L | 04/25/2040 | 1125 |
| 33434 | Series 2010-4<sup>(e)(n)</sup> | 6.23% - 1M US L | 02/25/2040 | 2008 |
| 35973 | Series 2010-58<sup>(e)</sup> | 12.47% - 1M US L | 06/25/2040 | 30110 |
| 1356795 | Series 2010-75 | 4.50% | 07/25/2040 | 1326074 |
| 102253 | Series 2010-9<sup>(e)(n)</sup> | 4.75% - 1M US L | 02/25/2040 | 2731 |
| 19021 | Series 2010-9<sup>(e)(n)</sup> | 5.30% - 1M US L | 02/25/2040 | 862 |
| 5925 | Series 2010-90<sup>(e)(n)</sup> | 6.00% - 1M US L | 08/25/2040 | 404 |
| 164604 | Series 2011-16 | 3.50% | 03/25/2031 | 158541 |
| 185724 | Series 2011-25 | 3.00% | 04/25/2026 | 180375 |
| 185558 | Series 2011-29 | 3.50% | 04/25/2031 | 178705 |
| 28194 | Series 2011-5<sup>(e)</sup> | 6.40% - 1M US L | 11/25/2040 | 123 |
| 1922382 | Series 2012-106<sup>(e)(n)</sup> | 6.16% - 1M US L | 10/25/2042 | 156819 |
| 262964 | Series 2012-124<sup>(e)</sup> | 7.79% - 1M US L | 11/25/2042 | 174741 |
| 112031 | Series 2012-29<sup>(e)(n)</sup> | 6.00% - 1M US L | 04/25/2042 | 8868 |
| 333955 | Series 2012-32<sup>(n)</sup> | 5.00% | 04/25/2042 | 53487 |
| 1722063 | Series 2012-65<sup>(e)(n)</sup> | 5.98% - 1M US L | 06/25/2042 | 157215 |
| 681649 | Series 2018-21 | 0.00% | 04/25/2048 | 517539 |
|  | First Horizon Alternative Mortgage Securities Trust |  |  |  |
| 485769 | Series 2005-FA6 | 5.50% | 09/25/2035 | 275368 |
|  | First Horizon Mortgage Pass-Through Trust |  |  |  |
| 531254 | Series 2007-AR3<sup>(e)</sup> | 3.87% | 11/25/2037 | 286424 |
|  | Freddie Mac Pool |  |  |  |
| 4095232 | Series 2021- | 2.00% | 11/01/2050 | 3402168 |
| 4141574 | Series 2021- | 3.00% | 10/01/2051 | 3642606 |
| 1639774 | Series 2022- | 3.00% | 03/01/2052 | 1450889 |
| 3861151 | Series 2022- | 3.50% | 06/01/2052 | 3512589 |
| 2605343 | Series 2022- | 4.00% | 06/01/2052 | 2447431 |
| 2441800 | Series 2022- | 4.50% | 09/01/2052 | 2352720 |
| 1374009 | Series 2022- | 4.50% | 10/01/2052 | 1323847 |
|  | Freddie Mac REMICS |  |  |  |
| 2338648 | Series 2011-3972<sup>(e)(n)</sup> | 5.90% - 1M US L | 12/15/2041 | 153993 |
| 2292967 | Series 2020-5007<sup>(e)(n)</sup> | 6.10% - 1M US L | 08/25/2050 | 282316 |
| 4167190 | Series 2020-5041 | 2.00% | 11/25/2050 | 489586 |
| 12240638 | Series 2020-5057<sup>(n)</sup> | 3.00% | 11/25/2050 | 1978452 |
| 9697830 | Series 2021-5070<sup>(n)</sup> | 3.50% | 02/25/2051 | 1529435 |
|  | Freddie Mac STACR REMIC Trust |  |  |  |
| 4300000 | Series 2020-DNA6<sup>(c)(e)</sup> | 30D US SOFR + 5.65% | 12/25/2050 | 3674106 |
| 2500000 | Series 2021-DNA1<sup>(c)(e)</sup> | 30D US SOFR + 4.75% | 01/25/2051 | 1943641 |
| 2750000 | Series 2021-HQA2<sup>(c)(e)</sup> | 30D US SOFR + 3.15% | 12/25/2033 | 2367188 |
|  | GCAT |  |  |  |
| 1500000 | Series 2021-NQM4<sup>(c)(e)</sup> | 2.47% | 08/25/2025 | 815195 |
|  | Ginnie Mae II Pool |  |  |  |
| 5447469 | Series 2021- | 2.50% | 10/20/2051 | 4632015 |
| 1600176 | Series 2021- | 2.50% | 11/20/2051 | 1360848 |
|  | Government National Mortgage Association |  |  |  |
| 29787 | Series 2004-83<sup>(e)(n)</sup> | 6.08% - 1M US L | 10/20/2034 | 1528 |
| 27112 | Series 2008-6<sup>(e)(n)</sup> | 6.46% - 1M US L | 02/20/2038 | 194 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal Amount/Description** | **Principal Amount/Description** | **Rate** | **Maturity** | **Value** |
| $25202 | Series 2008-67<sup>(e)(n)</sup> | 6.00% - 1M US L | 08/20/2038 | $150 |
| 398110 | Series 2008-69<sup>(e)(n)</sup> | 7.63% - 1M US L | 08/20/2038 | 29529 |
| 39448 | Series 2009-10<sup>(e)(n)</sup> | 6.65% - 1M US L | 02/16/2039 | 3281 |
| 408399 | Series 2009-35 | 4.50% | 05/20/2039 | 400502 |
| 1729981 | Series 2009-58<sup>(e)(n)</sup> | 6.25% - 1M US L | 06/20/2039 | 114972 |
| 28904 | Series 2009-6<sup>(e)</sup> | 5.95% - 1M US L | 02/20/2038 | 140 |
| 793586 | Series 2009-75 | 5.00% | 09/20/2039 | 793405 |
| 1886925 | Series 2010-121<sup>(e)(n)</sup> | 6.00% - 1M US L | 09/20/2040 | 181083 |
| 31407 | Series 2010-61<sup>(e)(n)</sup> | 6.55% - 1M US L | 09/20/2039 | 1632 |
| 50591 | Series 2010-98<sup>(e)</sup> | 5.53% | 03/20/2039 | 3273 |
| 36008723 | Series 2010-H20<sup>(e)(n)</sup> | 1.36% | 10/20/2060 | 970309 |
| 243786 | Series 2011-69 | 0.00% | 05/20/2041 | 201399 |
| 801448 | Series 2011-71 | 4.50% | 02/20/2041 | 784942 |
| 565492 | Series 2011-71<sup>(e)(n)</sup> | 5.40% - 1M US L | 05/20/2041 | 38682 |
| 174272 | Series 2011-72<sup>(e)(n)</sup> | 6.15% - 1M US L | 05/20/2041 | 11637 |
| 859334 | Series 2011-89<sup>(e)(n)</sup> | 5.45% - 1M US L | 06/20/2041 | 58778 |
| 1740714 | Series 2013-113<sup>(e)(n)</sup> | 6.25% - 1M US L | 03/20/2043 | 55458 |
| 3057452 | Series 2013-122<sup>(e)(n)</sup> | 6.10% - 1M US L | 08/16/2043 | 277884 |
| 2408209 | Series 2013-148<sup>(e)(n)</sup> | 5.68% - 1M US L | 10/16/2043 | 170162 |
| 2560169 | Series 2013-186<sup>(e)(n)</sup> | 6.25% - 1M US L | 02/16/2043 | 129431 |
| 1891982 | Series 2014-156<sup>(e)(n)</sup> | 6.25% - 1M US L | 10/20/2044 | 173376 |
| 3766639 | Series 2014-4<sup>(e)(n)</sup> | 6.10% - 1M US L | 01/16/2044 | 357766 |
| 4726859 | Series 2014-41<sup>(e)(n)</sup> | 6.10% - 1M US L | 03/20/2044 | 430611 |
| 1973683 | Series 2014-5<sup>(e)(n)</sup> | 6.15% - 1M US L | 07/20/2043 | 87486 |
| 3194361 | Series 2014-95<sup>(e)(n)</sup> | 6.25% - 1M US L | 06/16/2044 | 231199 |
| 14866988 | Series 2016-162<sup>(e)(n)</sup> | 0.68% | 09/16/2058 | 475437 |
| 15120875 | Series 2016-H21<sup>(e)(n)</sup> | 1.07% | 09/20/2066 | 740557 |
| 5322381 | Series 2018-97<sup>(e)(n)</sup> | 6.20% - 1M US L | 07/20/2048 | 419957 |
| 10996495 | Series 2019-22<sup>(e)</sup> | 5.60% - 1M US L | 02/20/2045 | 1112983 |
| 4944430 | Series 2019-92<sup>(e)(n)</sup> | 6.10% - 1M US L | 07/20/2049 | 482378 |
| 18795025 | Series 2019-H10<sup>(e)(n)</sup> | 0.01% | 06/20/2069 | 880359 |
| 4698982 | Series 2019-H18<sup>(e)(n)</sup> | 0.16% | 11/20/2069 | 200660 |
| 9928498 | Series 2020-112<sup>(e)(n)</sup> | 6.25% - 1M US L | 08/20/2050 | 975867 |
| 17953373 | Series 2020-146<sup>(e)(n)</sup> | 3.75% - 1M US L | 10/20/2050 | 614032 |
| 13529489 | Series 2020-146<sup>(e)(n)</sup> | 6.30% - 1M US L | 10/20/2050 | 1434782 |
| 12991255 | Series 2020-167<sup>(e)(n)</sup> | 3.75% - 1M US L | 11/20/2050 | 320894 |
| 17767012 | Series 2020-168<sup>(e)(n)</sup> | 0.97% | 12/16/2062 | 1219220 |
| 4949471 | Series 2020-188<sup>(e)</sup> | 6.30% - 1M US L | 11/20/2050 | 650801 |
| 19138087 | Series 2020-H18<sup>(e)(n)</sup> | 0.39% | 09/20/2070 | 924119 |
| 11180924 | Series 2021-1<sup>(e)(n)</sup> | 6.30% - 1M US L | 01/20/2051 | 1197268 |
| 15779660 | Series 2021-1 | 2.50% | 01/20/2051 | 1988567 |
| 10631027 | Series 2021-107<sup>(e)(n)</sup> | 3.75% - 1M US L | 06/20/2051 | 407022 |
| 1691940 | Series 2021-117 | 3.50% | 06/20/2051 | 188475 |
| 14556102 | Series 2021-160 | 2.50% | 06/20/2051 | 1606742 |
| 17485472 | Series 2021-52<sup>(e)</sup> | 0.72% | 04/16/2063 | 967078 |
| 25607006 | Series 2021-59<sup>(e)(n)</sup> | 2.60% - 30D US SOFR | 04/20/2051 | 379593 |
| 12935227 | Series 2021-77<sup>(e)</sup> | 3.75% - 1M US L | 05/20/2051 | 388248 |
| 16678657 | Series 2021-77 | 2.50% | 05/20/2051 | 1901694 |
| 6524117 | Series 2021-89<sup>(e)(n)</sup> | 3.75% - 1M US L | 05/20/2051 | 216296 |
| 10297018 | Series 2021-97<sup>(e)(n)</sup> | 3.75% - 1M US L | 06/20/2051 | 264670 |
| 31384447 | Series 2021-97<sup>(e)(n)</sup> | 3M US L + 2.44% | 06/20/2051 | 291044 |
| 30946880 | Series 2021-H06<sup>(e)</sup> | 1.16% | 04/20/2071 | 744656 |
| 12773427 | Series 2021-H08<sup>(e)</sup> | 1.06% | 05/20/2071 | 267025 |
| 58635730 | Series 2021-H12<sup>(e)</sup> | 0.86% | 08/20/2071 | 930619 |
| 39960013 | Series 2022-1<sup>(e)(n)</sup> | 2.65% - 30D US SOFR | 01/20/2052 | 334537 |
| 27541993 | Series 2022-48<sup>(e)(n)</sup> | 0.71% | 01/16/2064 | 1690282 |
|  | GSR Mortgage Loan Trust |  |  |  |
| 919098 | Series 2006-2F | 5.25% | 02/25/2036 | 413472 |
| 1620021 | Series 2007-2F | 6.00% | 03/25/2037 | 923891 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal Amount/Description** | **Principal Amount/Description** | **Rate** | **Maturity** | **Value** |
| $692542 | Series 2007-AR2<sup>(e)</sup> | 2.99% | 05/25/2037 | $394663 |
|  | Homeward Opportunities Fund Trust |  |  |  |
| 473789 | Series 2020-BPL1<sup>(c)(j)</sup> | 5.44% | 08/25/2025 | 474368 |
|  | Impac CMB Trust |  |  |  |
| 88300 | Series 2004-10<sup>(e)</sup> | 1M US L + 0.70% | 03/25/2035 | 72555 |
|  | Imperial Fund Mortgage Trust |  |  |  |
| 1000000 | Series 2021-NQM4<sup>(c)(e)</sup> | 3.45% | 01/25/2057 | 646774 |
|  | IndyMac IMJA Mortgage Loan Trust |  |  |  |
| 979502 | Series 2007-A1 | 6.00% | 08/25/2037 | 422367 |
|  | IndyMac IMSC Mortgage Loan Trust |  |  |  |
| 4649188 | Series 2007-F2 | 6.50% | 07/25/2037 | 1509419 |
|  | JP Morgan Alternative Loan Trust |  |  |  |
| 159929 | Series 2005-S1 | 6.00% | 12/25/2035 | 116249 |
| 29682 | Series 2006-S3<sup>(j)</sup> | 6.62% | 08/25/2036 | 28070 |
|  | JP Morgan Mortgage Trust |  |  |  |
| 793288 | Series 2007-S3 | 6.00% | 07/25/2037 | 440379 |
|  | JP Morgan Resecuritization Trust |  |  |  |
| 550443 | Series 2011-1<sup>(c)(e)</sup> | 6.00% | 06/26/2037 | 443424 |
| 2115373 | Series 2014-6<sup>(c)(e)</sup> | 1M US L + 0.21% | 07/27/2046 | 1966142 |
|  | Legacy Mortgage Asset Trust |  |  |  |
| 13310000 | Series 2019-GS7<sup>(c)(j)</sup> | 7.50% | 11/25/2059 | 12516431 |
|  | Lehman Mortgage Trust |  |  |  |
| 405787 | Series 2006-6 | 5.50% | 10/25/2036 | 282949 |
| 3847317 | Series 2006-7<sup>(e)</sup> | 1M US L + 0.25% | 11/25/2036 | 250904 |
| 3846333 | Series 2006-7<sup>(e)(n)</sup> | 7.75% - 1M US L | 11/25/2036 | 408884 |
| 1163979 | Series 2006-8<sup>(e)</sup> | 1M US L + 0.42% | 12/25/2036 | 264008 |
| 1163979 | Series 2006-8<sup>(e)(n)</sup> | 6.58% - 1M US L | 12/25/2036 | 136307 |
| 261162 | Series 2007-10 | 6.50% | 01/25/2038 | 87549 |
|  | LHOME Mortgage Trust |  |  |  |
| 4250000 | Series 2020-RTL1<sup>(c)(j)</sup> | 3.72% | 10/25/2022 | 4122837 |
| 3750000 | Series 2020-RTL1<sup>(c)(j)</sup> | 4.95% | 10/25/2022 | 3762595 |
| 1300000 | Series 2021-RTL1<sup>(c)(e)</sup> | 2.09% | 02/25/2026 | 1236213 |
| 4400000 | Series 2021-RTL1<sup>(c)(e)</sup> | 4.46% | 02/25/2026 | 3852135 |
| 1500000 | Series 2021-RTL2<sup>(c)(j)</sup> | 4.61% | 01/25/2024 | 1247137 |
|  | Merrill Lynch Alternative Note Asset Trust |  |  |  |
| 687842 | Series 2007-F1 | 6.00% | 03/25/2037 | 76006 |
|  | Morgan Stanley Mortgage Loan Trust |  |  |  |
| 1178508 | Series 2005-3AR<sup>(e)</sup> | 3.57% | 07/25/2035 | 979230 |
| 2359354 | Series 2006-11 | 6.00% | 08/25/2036 | 1601335 |
| 2534873 | Series 2006-1AR<sup>(e)</sup> | 1M US L + 0.28% | 02/25/2036 | 1568465 |
| 645834 | Series 2006-7<sup>(e)</sup> | 5.14% | 06/25/2036 | 429017 |
| 690949 | Series 2006-7 | 6.00% | 06/25/2036 | 385260 |
|  | Morgan Stanley Re-REMIC Trust |  |  |  |
| 29350 | Series 2011-R1<sup>(c)(e)</sup> | 5.94% | 02/26/2037 | 29251 |
|  | Morgan Stanley Residential Mortgage Loan Trust |  |  |  |
| 321364 | Series 2020-RPL1<sup>(c)(e)</sup> | 2.69% | 10/25/2023 | 309390 |
|  | NewRez Warehouse Securitization Trust |  |  |  |
| 4550000 | Series 2021-1<sup>(c)(e)</sup> | 1M US L + 5.25% | 05/25/2055 | 4348361 |
|  | Nomura Asset Acceptance Corp. Alternative Loan Trust |  |  |  |
| 996491 | Series 2005-AP3<sup>(e)</sup> | 5.32% | 08/25/2035 | 510181 |
|  | PR Mortgage Loan Trust |  |  |  |
| 6977599 | Series 2014-1<sup>(c)(e)</sup> | 5.87% | 10/25/2049 | 6309759 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal Amount/Description** | **Principal Amount/Description** | **Rate** | **Maturity** | **Value** |
|  | Prime Mortgage Trust |  |  |  |
| $51807 | Series 2006-DR1<sup>(c)</sup> | 5.50% | 05/25/2035 | $44556 |
|  | PRPM LLC |  |  |  |
| 9886677 | Series 2022-5<sup>(c)(j)</sup> | 6.90% | 09/27/2027 | 9821708 |
|  | RBSGC Structured Trust |  |  |  |
| 113609 | Series 2008-B<sup>(c)</sup> | 6.00% | 06/25/2037 | 97228 |
|  | Residential Accredit Loans, Inc. |  |  |  |
| 3169451 | Series 2006-QA5<sup>(e)</sup> | 1M US L + 0.22% | 07/25/2036 | 1368130 |
| 1294624 | Series 2006-QS10 | 6.50% | 08/25/2036 | 1099729 |
| 323326 | Series 2006-QS6 | 6.00% | 06/25/2036 | 261484 |
| 805458 | Series 2006-QS7 | 6.00% | 06/25/2036 | 639171 |
| 42344 | Series 2006-QS7<sup>(e)</sup> | 1M US L + 0.40% | 06/25/2036 | 30779 |
| 127033 | Series 2006-QS7<sup>(e)(n)</sup> | 5.60% - 1M US L | 06/25/2036 | 6851 |
| 53993 | Series 2006-QS8<sup>(e)</sup> | 1M US L + 0.45% | 08/25/2036 | 39170 |
| 161978 | Series 2006-QS8<sup>(e)(n)</sup> | 5.55% - 1M US L | 08/25/2036 | 11823 |
| 5049 | Series 2007-QS6<sup>(e)</sup> | 55.00% - 8.33 x 1M US L | 04/25/2037 | 5218 |
| 479601 | Series 2007-QS9 | 6.50% | 07/25/2037 | 384051 |
| 250839 | Series 2008-QR1 | 6.00% | 08/25/2036 | 197951 |
|  | Residential Asset Securitization Trust |  |  |  |
| 384696 | Series 2006-A1 | 6.00% | 04/25/2036 | 189205 |
| 860907 | Series 2006-A2 | 6.00% | 05/25/2036 | 371962 |
| 897960 | Series 2006-A6 | 6.50% | 07/25/2036 | 279633 |
| 245188 | Series 2006-A8 | 6.00% | 08/25/2036 | 161332 |
| 149757 | Series 2006-A8 | 6.50% | 08/25/2036 | 50411 |
| 317071 | Series 2006-A8<sup>(e)(n)</sup> | 5.90% - 1M US L | 08/25/2036 | 35396 |
| 1329161 | Series 2007-A1 | 6.00% | 03/25/2037 | 458885 |
| 57796 | Series 2007-A6 | 6.00% | 06/25/2037 | 34633 |
| 2529578 | Series 2007-A7 | 6.00% | 07/25/2037 | 1022422 |
|  | Residential Funding Mortgage Securities I Trust |  |  |  |
| 416447 | Series 2006-S3 | 5.50% | 03/25/2036 | 335323 |
| 81982 | Series 2006-S6 | 6.00% | 07/25/2036 | 66815 |
| 219671 | Series 2007-S3 | 6.00% | 03/25/2037 | 155873 |
| 122491 | Series 2007-S6 | 6.00% | 06/25/2037 | 90744 |
|  | Residential Mortgage Loan Trust |  |  |  |
| 3250000 | Series 2020-1<sup>(c)(e)</sup> | 4.67% | 01/26/2060 | 2285230 |
|  | Sequoia Mortgage Trust |  |  |  |
| 983004 | Series 2007-3<sup>(e)</sup> | 3.19% | 07/20/2037 | 790165 |
|  | Structured Adjustable Rate Mortgage Loan Trust |  |  |  |
| 531906 | Series 2005-15<sup>(e)</sup> | 3.65% | 07/25/2035 | 329135 |
|  | Structured Asset Securities Corp. |  |  |  |
| 145062 | Series 2005-RF1<sup>(c)(e)</sup> | 1M US L + 0.35% | 03/25/2035 | 136498 |
| 145061 | Series 2005-RF1<sup>(c)(e)(n)</sup> | 0.40% | 03/25/2035 | 694 |
|  | TBW Mortgage-Backed Trust |  |  |  |
| 1395044 | Series 2006-2 | 7.00% | 07/25/2036 | 252225 |
|  | Verus Securitization Trust |  |  |  |
| 2300000 | Series 2019-INV3<sup>(c)(e)</sup> | 3.28% | 11/25/2059 | 1921461 |
| 1500000 | Series 2021-4<sup>(c)(e)</sup> | 2.20% | 07/25/2066 | 830780 |
| 1400000 | Series 2021-6<sup>(c)(e)</sup> | 4.05% | 10/25/2066 | 857803 |
| 2000000 | Series 2021-7<sup>(c)(e)</sup> | 4.19% | 10/25/2066 | 1197242 |
| 7706000 | Series 2022-4<sup>(c)(e)</sup> | 4.72% | 04/25/2067 | 5681530 |
|  | Wachovia Mortgage Loan Trust, LLC Series Trust |  |  |  |
| 97222 | Series 2005-B<sup>(e)</sup> | 4.17% | 10/20/2035 | 90232 |
|  | Washington Mutual Alternative Mortgage Pass-Through Certificates |  |  |  |
| 38755 | Series 2005-9 | 5.50% | 11/25/2035 | 28639 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal Amount/Description** | **Principal Amount/Description** | **Rate** | **Maturity** | **Value** |
| $321783 | Series 2006-5 | 6.00% | 07/25/2036 | $220588 |
|  | Washington Mutual Mortgage Pass-Through Certificates Trust |  |  |  |
| 550888 | Series 2006-2 | 6.00% | 03/25/2036 | 512713 |
|  | Wells Fargo Alternative Loan Trust |  |  |  |
| 223133 | Series 2007-PA2<sup>(e)</sup> | 1M US L + 0.43% | 06/25/2037 | 180801 |
| 223128 | Series 2007-PA2<sup>(e)(n)</sup> | 6.07% - 1M US L | 06/25/2037 | 10382 |
| 120166 | Series 2007-PA3 | 5.75% | 07/25/2037 | 96065 |
| 265179 | Series 2007-PA3 | 6.25% | 07/25/2037 | 222051 |
| TOTAL U.S. GOVERNMENT / AGENCY MORTGAGE BACKED SECURITIES | TOTAL U.S. GOVERNMENT / AGENCY MORTGAGE BACKED SECURITIES | TOTAL U.S. GOVERNMENT / AGENCY MORTGAGE BACKED SECURITIES | TOTAL U.S. GOVERNMENT / AGENCY MORTGAGE BACKED SECURITIES | TOTAL U.S. GOVERNMENT / AGENCY MORTGAGE BACKED SECURITIES |
| (Cost $371,880,008) | (Cost $371,880,008) |  |  | 252194198 |

---

---

| | | |
|:---|:---|:---|
| **Shares/Description** | **Shares/Description** | **Value** |
| **Warrants - 0.00%<sup>(k)</sup>** | **Warrants - 0.00%<sup>(k)</sup>** | **Warrants - 0.00%<sup>(k)</sup>** |
| 219520 | Oas SA, Strike Price 1.00, Expires 05/16/2039<sup>(m)</sup> | – |
| TOTAL WARRANTS | TOTAL WARRANTS | TOTAL WARRANTS |
| (Cost $0) |  | – |
| **Short-Term Investments - 4.22%** | **Short-Term Investments - 4.22%** | **Short-Term Investments - 4.22%** |
| **Money Market Fund - 4.22%** | **Money Market Fund - 4.22%** |  |
| 49731392 | State Street Institutional Trust (7 Day Yield 3.77%) | $49731392 |
| TOTAL SHORT-TERM INVESTMENTS | TOTAL SHORT-TERM INVESTMENTS | TOTAL SHORT-TERM INVESTMENTS |
| (Cost $49,731,392) | (Cost $49,731,392) | 49731392 |
| **U.S. Government Bonds and Notes - 0.02%** | **U.S. Government Bonds and Notes - 0.02%** | **U.S. Government Bonds and Notes - 0.02%** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal Amount/Description** | **Principal Amount/Description** | **Rate** | **Maturity** | **Value** |
| **U.S. Treasury - 0.02%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; 255000 | United States Treasury Bill<sup>(h)</sup> | 0.00% | 04/20/2023 | $251679 |
| TOTAL U.S. GOVERNMENT BONDS AND NOTES | TOTAL U.S. GOVERNMENT BONDS AND NOTES | TOTAL U.S. GOVERNMENT BONDS AND NOTES | TOTAL U.S. GOVERNMENT BONDS AND NOTES | TOTAL U.S. GOVERNMENT BONDS AND NOTES |
| (Cost $253,428) |  |  |  | 251679 |
| **TOTAL INVESTMENTS - 98.64%** | **TOTAL INVESTMENTS - 98.64%** | **TOTAL INVESTMENTS - 98.64%** | **TOTAL INVESTMENTS - 98.64%** | **TOTAL INVESTMENTS - 98.64%** |
| **(Cost $1,468,618,667)** | **(Cost $1,468,618,667)** |  |  | $1162518275 |
| **CASH SEGREGATED AT CUSTODIAN FOR FORWARD FOREIGN CURRENCY CONTRACTS - 0.07%** | **CASH SEGREGATED AT CUSTODIAN FOR FORWARD FOREIGN CURRENCY CONTRACTS - 0.07%** |  |  | 871097 |
| **OTHER ASSETS IN EXCESS OF LIABILITIES - 1.36%** | **OTHER ASSETS IN EXCESS OF LIABILITIES - 1.36%** |  |  | $15182637 |
| **NET ASSETS - 100.00%** | **NET ASSETS - 100.00%** |  |  | $1178572009 |

---

**Investment Abbreviations:**

LIBOR - London Interbank Offered Rate

LLC - Limited Liability Company

LP - Limited Partnership

SOFR - Secured Overnight Financing Rate Data

TI - Treasury Index

**Libor Rates:**

1M US L - 1 Month LIBOR as of December 31, 2022 was 4.39%

3M US L - 3 Month LIBOR as of December 31, 2022 was 4.77%

6M US L - 6 Month LIBOR as of December 31, 2022 was 5.14%

1D SOFR - 1 Day SOFR as of December 31, 2022 was 4.30%

30D SOFR - 30 Day SOFR as of December 31, 2022 was 4.06%

1Y US TI - 1 Year TI as of December 31, 2022 was 4.72%

5Y US TI - 5 Year TI as of December 31, 2022 was 3.94%

10Y US TI - 10 Year TI as of December 31, 2022 was 3.79%

<sup>(a)</sup> *Non-income producing security.*

<sup>(b)</sup> *Affiliated company. See Notes to Quarterly Schedule of Investments.*

<sup>(c)</sup> *Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities have been deemed liquid under procedures approved by the Fund's Board of Trustees and may normally be sold to qualified institutional buyers in transactions exempt from registration. Total fair value of Rule 144A securities amounts to $405,779,546, which represents approximately 33.74% of net assets as of December 31, 2022.*

<sup>(d)</sup> *Securities were purchased pursuant to Regulation S under the Securities Act of 1933, which exempts securities offered and sold outside of the United States from registration. Such securities cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 1933, or pursuant to an exemption from registration. These securities have been deemed liquid under procedures approved by the Fund's Board of Trustees (The "Board"). As of December 31, 2022, the aggregate fair value of those securities was $18,983,412, representing 1.61% of net assets.*

<sup>(e)</sup> *Variable rate investment. Interest rates reset periodically. Interest rate shown reflects the rate in effect at December 31, 2022. For securities based on a published reference rate and spread, the reference rate and spread are indicated in the description above. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above.*

<sup>(f)</sup> *Pay-in-kind securities. Rate paid in-kind is shown in parenthesis.*

<sup>(g)</sup> *Security has no contractual maturity date, is not redeemable and contractually pays an indefinite stream of interest.*

<sup>(h)</sup> *Issued with a zero coupon. Income is recognized through the accretion of discount.*

<sup>(i)</sup> *Security is currently in default.*

<sup>(j)</sup> *Step up bond. Coupon changes periodically based upon a predetermined schedule. Interest rate disclosed is that which is in effect at December 31, 2022.*

<sup>(k)</sup> *Less than 0.005%.*

<sup>(l)</sup> *Security does not have a market value or rate. Security will not be entitled to distributions in respect of principal or interest other than excess interest paid with respect to the mortgage loans.*

<sup>(m)</sup> *The Level 3 assets were a result of unavailable quoted prices from an active market or the unavailability of other significant observable inputs.*

<sup>(n)</sup> *Interest only securities.*

*See Notes to Quarterly Schedule of Investments.*

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Contracts** | **Expiration Date** | **Notional Value** | **Value and Unrealized Appreciation/(Depreciation)** |
| 10-Yr U.S. Treasury Note Futures | 250 | March 2023 | $29570313 | $(370534) |
|  |  |  | $29570313 | $(370534) |

---

RiverNorth/Oaktree High Income Fund

SCHEDULE OF INVESTMENTS

December 31, 2022 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Shares/Description** | | **Value** |
| **BUSINESS DEVELOPMENT COMPANIES - 1.61%** | **BUSINESS DEVELOPMENT COMPANIES - 1.61%** |  |
| 10837 | Barings BDC, Inc. | $88322 |
| 31950 | FS KKR Capital Corp. | 559125 |
| 19835 | Goldman Sachs BDC, Inc. | 272136 |
| TOTAL BUSINESS DEVELOPMENT COMPANIES | TOTAL BUSINESS DEVELOPMENT COMPANIES |  |
| (Cost $962,743) | (Cost $962,743) | 919583 |
| **CLOSED-END FUNDS - 15.22%** | **CLOSED-END FUNDS - 15.22%** |  |
| 75472 | BlackRock Corporate High Yield Fund, Inc. | 659625 |
| 19025 | BlackRock Credit Allocation Income Trust | 192153 |
| 58500 | BlackRock Floating Rate Income Strategies Fund, Inc. | 658710 |
| 82471 | BNY Mellon High Yield Strategies Fund | 178137 |
| 115170 | Eaton Vance Floating-Rate Income Trust | 1277235 |
| 144888 | Eaton Vance, Ltd. Duration Income Fund | 1360498 |
| 56446 | First Trust High Yield Opportunities 2027 Term Fund | 760892 |
| 76406 | Nuveen Preferred & Income Securities Fund | 519561 |
| 28320 | Nuveen Variable Rate Preferred & Income Fund | 497299 |
| 17278 | PGIM Global High Yield Fund, Inc. | 187294 |
| 86331 | Western Asset Diversified Income Fund | 1096404 |
| 198883 | Western Asset High Income Opportunity Fund, Inc. | 785588 |
| 59628 | Western Asset Inflation-Linked Opportunities & Income Fund | 544404 |
| TOTAL CLOSED-END FUNDS | TOTAL CLOSED-END FUNDS |  |
| (Cost $9,018,070) | (Cost $9,018,070) | 8717800 |
| **COMMON STOCKS - 0.14%** | **COMMON STOCKS - 0.14%** |  |
| 947 | DBI Investors, Inc.<sup>(a)(b)</sup> |  |
| 3304 | PHI Group, Inc.<sup>(a)(b)</sup> | 78305 |
| 6 | Toys R Us Propco Equity<sup>(b)</sup> | 33 |
| TOTAL COMMON STOCKS | TOTAL COMMON STOCKS |  |
| (Cost $213,399) | (Cost $213,399) | 78338 |
| **EXCHANGE TRADED FUNDS - 6.65%** | **EXCHANGE TRADED FUNDS - 6.65%** |  |
| 26000 | iShares iBoxx $ Investment Grade Corporate Bond ETF | 2741180 |
| 14545 | iShares® iBoxx High Yield Corporate Bond ETF | 1070948 |
| TOTAL EXCHANGE TRADED FUNDS | TOTAL EXCHANGE TRADED FUNDS |  |
| (Cost $3,779,303) | (Cost $3,779,303) | 3812128 |
| **PREFERRED STOCKS - –%** | **PREFERRED STOCKS - –%** |  |
| 116 | DBI Investors Inc., 10.000%<sup>(a)(b)(c)</sup> | $– |
| TOTAL PREFERRED STOCKS | TOTAL PREFERRED STOCKS |  |
| (Cost $10,981) | (Cost $10,981) | – |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal Amount/Description** | **Principal Amount/Description** | **Rate** | **Maturity** | **Value** |
| **BANK LOANS - 20.62%** | **BANK LOANS - 20.62%** | **BANK LOANS - 20.62%** | **BANK LOANS - 20.62%** | **BANK LOANS - 20.62%** |
| ***Germany - 0.40%*** | ***Germany - 0.40%*** | ***Germany - 0.40%*** | ***Germany - 0.40%*** | ***Germany - 0.40%*** |
| $228834 | Springer Nature Deutschland GmbH, First Lien - Initial B18 Term Loan | 1M US L + 3.00%, 0.75% Floor | 08/14/2026 | $227025 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal Amount/Description** | **Principal Amount/Description** | **Rate** | **Maturity** | **Value** |
| ***Great Britain - 0.70%*** | ***Great Britain - 0.70%*** | ***Great Britain - 0.70%*** | ***Great Britain - 0.70%*** | ***Great Britain - 0.70%*** |
| $247500 | City Football Group Limited, TL | 1M US L + 3.00% | 07/09/2028 | $233269 |
| 142879 | EG Group, Ltd., First Lien - Additional Facility Term Loan | 3M US L + 4.00% | 02/07/2025 | 135289 |
| 32835 | Osmosis Buyer, Ltd., First Lien - Initial B Term Loan | 3M US L + 2.75%, 0.50% Floor | 06/17/2028 | 31008 |
|  |  |  |  | 399566 |
| ***Luxembourg - 0.42%*** | ***Luxembourg - 0.42%*** | ***Luxembourg - 0.42%*** | ***Luxembourg - 0.42%*** | ***Luxembourg - 0.42%*** |
| 245606 | Surf Holdings S.a r.l., First Lien - Dollar Tranche Term Loan | 3M US L + 3.50% | 03/05/2027 | 238764 |
| ***Netherlands - 0.95%*** | ***Netherlands - 0.95%*** | ***Netherlands - 0.95%*** | ***Netherlands - 0.95%*** | ***Netherlands - 0.95%*** |
| 283418 | Peer Holding III B.V., First Lien - Facility B Term Loan | 3M EUR L + 3.00% | 03/07/2025 | 297801 |
| 250000 | Sigma Holdco B.V., First Lien - Facility B4 (GBP) Term Loan | 6M US L + 4.00% | 07/02/2025 | 249239 |
|  |  |  |  | 547040 |
| ***United States - 18.15%*** | ***United States - 18.15%*** | ***United States - 18.15%*** | ***United States - 18.15%*** | ***United States - 18.15%*** |
| 231364 | Access CIG LLC, First Lien - B Term Loan | 3M US L + 3.75% | 02/27/2025 | 227146 |
| 49370 | Adavantage Sales & Marketing Inc., First Lien | 3M US L + 4.50% | 10/28/2027 | 41014 |
| 43240 | Adtalem Global Education, Inc., First Lien - B Term Loan | 3M US L + 3.00%, 0.75% Floor | 08/12/2028 | 42982 |
| 14815 | AI Aqua Merger Sub, Inc., First Lien | 0.50% Floor | 07/30/2028 | 13988 |
| 123438 | Allied Universal Holdco LLC, First Lien - Initial U.S. Dollar Term Loan | 1M US L + 3.75%, 0.50% Floor | 05/12/2028 | 117513 |
| 55720 | Amentum Government Services Holdings, LLC, First Lien | 3M US L + 4.00% | 02/07/2029 | 54431 |
| 97020 | American Auto Auction Group, LLC, First Lien | 3M US L + 5.00% | 12/30/2027 | 76209 |
| 52205 | American Rock Salt Company LLC, First Lien - Initial Term Loan | 3M US L + 3.25%, 0.75% Floor | 06/09/2028 | 49268 |
| 43355 | Ankura Consulting Group LLC, First Lien - Closing Date Term Loan | 3M US L + 4.00%, 0.75% Floor | 03/17/2028 | 41025 |
| 54175 | Artera Services, LLC, TL | L + 3.50%, 1.00% Floor | 03/06/2025 | 44559 |
| 27736 | ASP Blade Holdings, Inc. TLB 1L | 3M US L + 4.00% | 10/07/2028 | 22241 |
| 239940 | Astoria Energy LLC, First Lien - B Advance (2020) Term Loan | 3M US L + 4.25%, 1.00% Floor | 12/10/2027 | 237341 |
| 53369 | Astra Acquisition Corp., First Lien - Initial Term Loan | 1M US L + 5.25% | 10/22/2028 | 47365 |
| 139569 | Asurion LLC, First Lien - New B-8 Term Loan | 1M US L + 3.25% | 12/23/2026 | 124769 |
| 98500 | Azalea TopCo, Inc., First Lien | 3M US L + 4.00%, 0.75% Floor | 07/24/2026 | 90989 |
| 157943 | BCP Renaissance Parent LLC, First Lien - Initial Term Loan | 1M US L + 3.50%, 1.00% Floor | 10/31/2024 | 156825 |
| 70248 | BCPE North Star US Holdco 2, Inc., First Lien - Initial Term Loan | 3M US L + 3.75%, 0.75% Floor | 06/09/2028 | 64628 |
| 99500 | Bengal Debt Merger Sub, LLC, First Lien | 3M US L + 3.35% | 01/19/2029 | 89481 |
| 25000 | Bengal Debt Merger Sub, LLC, Second Lien | 3M US L + 6.00% | 01/18/2030 | 20207 |
| 239375 | Bracket Intermediate Holding Corp., First Lien - Initial Term Loan | 3M US L + 4.25% | 09/05/2025 | 228603 |
| 223186 | Brookfield WEC Holdings, Inc., First Lien - Initial (2021) Term Loan | 3M US L + 2.75%, 0.50% Floor | 08/01/2025 | 220385 |
| 24559 | Carnival Corp., First Lien - Initial Advance Term Loan | 3M US L + 7.50%, 0.75% Floor | 06/30/2025 | 23616 |
| 25740 | Carnival Corporation TLB 1L | 1M US L + 3.25% | 10/06/2028 | 24170 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal Amount/Description** | **Principal Amount/Description** | **Rate** | **Maturity** | **Value** |
| $175234 | Charter Next Generation, Inc., First Lien - Initial (2021) Term Loan | 1M US L + 3.75%, 0.75% Floor | 12/01/2027 | $170539 |
| 124375 | Clydesdale Acquisition Holdings, Inc., First Lien | 3M US L + 4.175%, 0.50% Floor | 04/13/2029 | 118763 |
| 123438 | Consilio/Skopima 5/21 Cov-Lite TLB | 1M US L + 4.00% | 05/12/2028 | 117089 |
| 25367 | CPV Maryland LLC, First Lien - B Advance Term Loan | 3M US L + 5.25%, 1.00% Floor | 05/11/2028 | 25134 |
| 147750 | CQP Holdco LP TLB | 3M US L + 4.00% | 06/05/2028 | 147288 |
| 68338 | DIRECTV Financing LLC, First Lien - Closing Date Term Loan | 1M US L + 5.00%, 0.75% Floor | 08/02/2027 | 66679 |
| 25892 | Diversitech Holdings, Inc. | 3M US L + 3.50% | 12/15/2028 | 23983 |
| 247500 | DRW Holdings LLC, First Lien - Initial Term Loan | 1M US L + 3.75% | 03/01/2028 | 241778 |
| 33830 | Echo Global Logistics, Inc. TL 1L | 3M US L + 3.50% | 11/03/2028 | 31885 |
| 77415 | Electron BidCo, Inc. TL 1L | 1M US L + 3.00% | 10/07/2028 | 75489 |
| 148875 | Fertitta Entertainment, LLC, First Lien | 1M US L + 4.004% | 01/13/2029 | 141841 |
| 239456 | Flynn Restaurant Group LP, First Lien - Initial Term Loan | 1M US L + 3.50% | 06/27/2025 | 230077 |
| 245023 | Great Outdoors Group LLC, First Lien | 1M US L + 3.75%, 0.75% Floor | 03/05/2028 | 235988 |
| 245625 | Greeneden U.S. Holdings I LLC, First Lien - Initial Dollar (2020) Term Loan | 1M US L + 4.00%, 0.75% Floor | 12/01/2027 | 236364 |
| 243255 | Harbor Freight Tools USA, Inc., First Lien - Initial (2021) Term Loan | L + 2.75%, 0.50% Floor | 10/19/2027 | 232364 |
| 184990 | Helix Gen Funding LLC, First Lien | 1M US L + 3.75%, 1.00% Floor | 06/03/2024 | 182664 |
| 149625 | Houghton Mifflin Harcrt Co Tl 1L | 1M US L + 5.25% | 04/04/2029 | 142751 |
| 61898 | Hudson River Trading LLC, First Lien | 1M US L + 3.00% | 03/20/2028 | 58687 |
| 62685 | Hunter Douglas, Inc., First Lien | 3M US L + 3.50% | 02/09/2029 | 55471 |
| 66799 | Intelsat Jackson Holdings S.A.TLB 1L | 3M US L + 4.25% | 01/26/2029 | 64628 |
| 245625 | IRB Holding Corp., First Lien | 1M US L + 3.15%, 0.75% Floor | 12/15/2027 | 238747 |
| 108652 | KUEHG Corp, First Lien - B-3 Term Loan | 3M US L + 3.75%, 1.00% Floor | 02/21/2025 | 104624 |
| 192405 | LMBE-MC Holdco II LLC, First Lien | 3M US L + 4.00%, 1.00% Floor | 12/03/2025 | 187595 |
| 207346 | LogMeIn, Inc., First Lien - Initial Term Loan | 1M US L + 4.75% | 08/31/2027 | 134360 |
| 98864 | LTI Holdings, Inc., First Lien | 1M US L + 4.75% | 07/24/2026 | 94910 |
| 45310 | Majordrive Holdings IV LLC, First Lien - Initial Term Loan | 3M US L + 3.75%, 0.50% Floor | 06/01/2028 | 42750 |
| 58705 | McAfee Corp., First Lien | 1M US L + 3.85% | 02/02/2029 | 54805 |
| 34667 | Merion Rose Merger Sub, Inc., First Lien | 3M US L + 4.00% | 12/08/2028 | 30738 |
| 225000 | Mileage Plus Holdings LLC, First Lien - Initial Term Loan | 3M US L + 5.25%, 1.00% Floor | 06/21/2027 | 231834 |
| 70468 | Mitchell International, Inc. TLB | 3M US L + 3.75% | 10/01/2028 | 65146 |
| 236962 | Natgasoline LLC, First Lien - Initial Term Loan | 3M US L + 3.625% | 11/14/2025 | 231630 |
| 92605 | Olaplex, Inc. TL 1L | 3M US L + 3.75% | 02/17/2029 | 86817 |
| 148875 | Olympus Water US Holding Corp., First Lien | 3M US L + 4.50%, 0.50% Floor | 11/09/2028 | 144855 |
| 49026 | Oryx Midstream Services Permian Basin LLC, TLB, First Lien | L + 3.25%, 0.50% Floor | 09/30/2028 | 48524 |
| 85185 | Osmosis Buyer Limited TLB 1L | 1Y US L + 3.75% | 07/31/2028 | 80429 |
| 245000 | Pactiv Evergreen, Inc., First Lien - Tranche B-2 U.S. Term Loan | 1M US L + 3.25% | 02/05/2026 | 242626 |
| 58611 | Parkway Generation, LLC, First Lien | 3M US L + 0.00% | 11/05/2028 | 57776 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal Amount/Description** | **Principal Amount/Description** | **Rate** | **Maturity** | **Value** |
| $97975 | PetVet Care Centers LLC, First Lien - 2021 Replacement Term Loan | 3M US L + 3.50%, 0.75% Floor | 02/14/2025 | $92380 |
| 94763 | PMHC II, INC.TLB 1L | 3M US L + 4.25% | 02/02/2029 | 80573 |
| 32588 | Polaris Newco LLC, First Lien - Dollar Term Loan | L + 4.00%, 0.50% Floor | 06/04/2028 | 29818 |
| 245004 | ProAmpac PG Borrower LLC, First Lien - 2020-1 Term Loan | 3M US L + 3.75%, 0.75% Floor | 11/03/2025 | 235254 |
| 242500 | Pug LLC, First Lien - USD B Term Loan | 1M US L + 3.50% | 02/12/2027 | 201881 |
| 235231 | Recorded Books, Inc., First Lien - 2021 Replacement Term Loan | 3M US L + 2.75% | 08/29/2025 | 230631 |
| 124688 | Redwood Star Merger Sub, Inc. | 1M US L + 4.50% | 03/16/2029 | 116784 |
| 33830 | Renaissance Holdings Corp., First Lien | 1M US L + 4.50%, 0.50% Floor | 04/01/2027 | 32612 |
| 54588 | Restaurant Technologies, Inc. TLB 1L | 3M US L + 4.25% | 03/17/2029 | 53728 |
| 40470 | SCIH Salt Holdings, Inc., First Lien - Incremental B-1 Term Loan | 3M US L + 3.50%, 0.75% Floor | 03/16/2027 | 39444 |
| 148125 | SeaWorld Parks & Entertainment, Inc., First Lien - B Term Loan | L + 3.00%, 0.50% Floor | 08/25/2028 | 145811 |
| 39751 | Secure Acquisition, Inc. | 3M US L + 5.00% | 12/15/2028 | 36571 |
| 5948 | Secure Acquisition, Inc., First Lien | 3M US L + 5.00%, 0.50% Floor | 12/23/2028 | 5473 |
| 217016 | Shearer's Foods LLC, First Lien | 3M US L + 3.50%, 0.75% Floor | 09/23/2027 | 207522 |
| 43566 | SM Wellness Holdings, Inc., First Lien - Initial Term Loan | 3M US L + 3.75%, 0.75% Floor | 04/17/2028 | 35506 |
| 250000 | Sotera Health Holdings LLC, First Lien - Refinancing Term Loan | 3M US L + 3.25%, 0.50% Floor | 12/11/2026 | 231875 |
| 147375 | Spin Holdco, Inc., First Lien - Initial Term Loan | 1M US L + 3.50%, 0.75% Floor | 03/04/2028 | 125048 |
| 174680 | SRS Distribution, Inc., First Lien | 3M US L + 3.50%, 0.50% Floor | 06/04/2028 | 167365 |
| 98750 | Tiger Acquisition LLC, First Lien - Initial Term Loan | L + 3.25%, 0.50% Floor | 06/01/2028 | 94004 |
| 71979 | Triton Water Holdings, Inc., First Lien - Initial Term Loan | 3M US L + 3.50%, 0.50% Floor | 03/31/2028 | 67184 |
| 269359 | Uber Technologies, Inc., First Lien - 2021 Incremental Term Loan | 1M US L + 3.50% | 04/04/2025 | 269503 |
| 100004 | UFC Holdings LLC, First Lien | 3M US L + 2.75%, 0.75% Floor | 04/29/2026 | 98879 |
| 245030 | UKG, Inc., First Lien | 3M US L + 3.25%, 0.50% Floor | 05/03/2026 | 233697 |
| 49125 | United AirLines, Inc., First Lien - Class B Term Loan | 3M US L + 3.75%, 0.75% Floor | 04/21/2028 | 48644 |
| 26730 | United Site 11/21 Cov-Lite | 1M US L + 4.25% | 11/04/2028 | 22388 |
| 207874 | University Support Services LLC, First Lien | 1M US L + 3.25%, 0.50% Floor | 02/10/2029 | 202677 |
| 44663 | Univision Communications, Inc., First Lien - B Term Loan | 3M US L + 4.00%, 0.75% Floor | 05/05/2028 | 43476 |
| 44663 | Vertex Aerospace Services Corp TL | 1M US L + 3.50% | 11/10/2028 | 43944 |
| 64350 | W. R. Grace Holdings LLC, First Lien - Initial Term Loan | L + 3.75%, 0.50% Floor | 09/22/2028 | 63330 |
| 82170 | Whatabrands LLC, First Lien - Initial B Term Loan | 1M US L + 3.25%, 0.50% Floor | 08/03/2028 | 79602 |
| 204156 | William Morris Endeavor Entertainment LLC, First Lien - B-1 Term Loan | 1M US L + 2.75% | 05/18/2025 | 200277 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Principal Amount/Description** | **Principal Amount/Description** | **Principal Amount/Description** | **Rate** | **Maturity** | **Value** |
| $| 128273 | YI LLC, First Lien - Initial Term Loan | 1M US L + 4.00%, 1.00% Floor | 11/07/2024 | $124104 |
|  |  |  |  |  | 10396368 |
| TOTAL BANK LOANS | TOTAL BANK LOANS | TOTAL BANK LOANS | TOTAL BANK LOANS | TOTAL BANK LOANS | TOTAL BANK LOANS |
| (Cost $12,475,597) | (Cost $12,475,597) | (Cost $12,475,597) |  |  | 11808763 |
| **HIGH YIELD DEBT- 44.23%** | **HIGH YIELD DEBT- 44.23%** | **HIGH YIELD DEBT- 44.23%** | **HIGH YIELD DEBT- 44.23%** | **HIGH YIELD DEBT- 44.23%** | **HIGH YIELD DEBT- 44.23%** |
| ***Australia - 0.33%*** | ***Australia - 0.33%*** | ***Australia - 0.33%*** | ***Australia - 0.33%*** | ***Australia - 0.33%*** | ***Australia - 0.33%*** |
|  | 40000 | Mineral Resources, Ltd.<sup>(d)</sup> | 8.13% | 05/01/2027 | $40346 |
|  | 60000 | Mineral Resources, Ltd.<sup>(d)</sup> | 8.50% | 05/01/2030 | 60900 |
|  | 100000 | Nufarm Australia, Ltd. / Nufarm Americas, Inc.<sup>(d)</sup> | 5.00% | 01/27/2030 | 86784 |
|  |  |  |  |  | 188030 |
| ***Canada - 1.40%*** | ***Canada - 1.40%*** | ***Canada - 1.40%*** | ***Canada - 1.40%*** | ***Canada - 1.40%*** | ***Canada - 1.40%*** |
|  | 65000 | Bombardier, Inc.<sup>(d)</sup> | 7.50% | 03/15/2025 | 64504 |
|  | 80000 | Bombardier, Inc.<sup>(d)</sup> | 7.13% | 06/15/2026 | 77763 |
|  | 45000 | Bombardier, Inc.<sup>(d)</sup> | 6.00% | 02/15/2028 | 41667 |
|  | 110000 | Cascades, Inc./Cascades USA, Inc.<sup>(d)</sup> | 5.38% | 01/15/2028 | 96562 |
|  | 75000 | Eldorado Gold Corp.<sup>(d)</sup> | 6.25% | 09/01/2029 | 65710 |
|  | 125000 | goeasy, Ltd.<sup>(d)</sup> | 5.38% | 12/01/2024 | 120131 |
|  | 105000 | Intelligent Packaging, Ltd. Finco, Inc. / Intelligent Packaging Ltd Co.-Issuer LLC<sup>(d)</sup> | 6.00% | 09/15/2028 | 84889 |
|  | 110000 | Mercer International, Inc. | 5.13% | 02/01/2029 | 92123 |
|  | 20000 | Open Text Corp.<sup>(d)</sup> | 6.90% | 12/01/2027 | 20026 |
|  | 60000 | Precision Drilling Corp.<sup>(d)</sup> | 7.13% | 01/15/2026 | 58145 |
|  | 25000 | Precision Drilling Corp.<sup>(d)</sup> | 6.88% | 01/15/2029 | 23308 |
|  | 80000 | Strathcona Resources, Ltd./Alberta<sup>(d)</sup> | 6.88% | 08/01/2026 | 58484 |
|  |  |  |  |  | 803312 |
| ***France - 1.95%*** | ***France - 1.95%*** | ***France - 1.95%*** | ***France - 1.95%*** | ***France - 1.95%*** | ***France - 1.95%*** |
|  | 100000 | Accor SA<sup>(c)(e)</sup> | 4.561% - 5Y EUR SWAP | 12/31/2049 | 101162 |
|  | 100000 | Afflelou SAS<sup>(f)</sup> | 4.25% | 05/19/2026 | 95762 |
|  | 120000 | Altice France SA<sup>(d)</sup> | 5.50% | 01/15/2028 | 94232 |
|  | 55000 | Altice France SA<sup>(d)</sup> | 5.13% | 07/15/2029 | 41334 |
|  | 100000 | Altice France SA<sup>(d)</sup> | 4.25% | 10/15/2029 | 80702 |
|  | 100000 | Banijay Entertainment SASU<sup>(d)</sup> | 3.50% | 03/01/2025 | 101112 |
|  | 100000 | CAB SELAS<sup>(f)</sup> | 3.38% | 02/01/2028 | 86361 |
|  | 200000 | Electricite de France SA<sup>(c)(e)</sup> | 2.86% - 5Y EUR SWAP | 12/31/2049 | 167543 |
|  | 100000 | Elis SA | 4.13% | 05/24/2027 | 104634 |
|  | 155000 | Iliad Holding SASU<sup>(d)</sup> | 5.63% | 10/15/2028 | 151025 |
|  | 100000 | Loxam SAS | 5.75% | 07/15/2027 | 92032 |
|  |  |  |  |  | 1115899 |
| ***Germany - 1.17%*** | ***Germany - 1.17%*** | ***Germany - 1.17%*** | ***Germany - 1.17%*** | ***Germany - 1.17%*** | ***Germany - 1.17%*** |
|  | 100000 | Cheplapharm Arzneimittel GmbH<sup>(f)</sup> | 4.38% | 01/15/2028 | 94391 |
|  | 100000 | Gruenenthal GmbH<sup>(d)</sup> | 4.13% | 05/15/2028 | 96608 |
|  | 200000 | IHO Verwaltungs GmbH<sup>(f)(g)</sup> | 3.75% (4.50%) | 09/15/2026 | 186736 |
|  | 100000 | Nidda BondCo GmbH<sup>(f)</sup> | 7.25% | 09/30/2025 | 94467 |
|  | 100000 | Renk AG/Frankfurt am Main<sup>(f)</sup> | 5.75% | 07/15/2025 | 100753 |
|  | 100000 | Techem Verwaltungsgesellschaft 675 mbH<sup>(f)</sup> | 2.00% | 07/15/2025 | 98722 |
|  |  |  |  |  | 671677 |
| ***Great Britain - 1.15%*** | ***Great Britain - 1.15%*** | ***Great Britain - 1.15%*** | ***Great Britain - 1.15%*** | ***Great Britain - 1.15%*** | ***Great Britain - 1.15%*** |
|  | 100000 | eG Global Finance PLC<sup>(f)</sup> | 6.25% | 10/30/2025 | 94349 |
|  | 100000 | INEOS Finance PLC<sup>(f)</sup> | 2.88% | 05/01/2026 | 92592 |
|  | 100000 | Pinewood Finance Co., Ltd.<sup>(f)</sup> | 3.63% | 11/15/2027 | 106800 |
|  | 85000 | Rolls-Royce PLC<sup>(d)</sup> | 5.75% | 10/15/2027 | 81101 |
|  | 100000 | Thames Water Kemble Finance PLC<sup>(f)</sup> | 4.63% | 05/19/2026 | 102557 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Principal Amount/Description** | **Principal Amount/Description** | **Principal Amount/Description** | **Rate** | **Maturity** | **Value** | **Value** |
| $| 120000 | Vmed O2 UK Financing I PLC<sup>(d)</sup> | 4.75% | 07/15/2031 | $| 97717 |
|  | 100000 | Vodafone Group PLC<sup>(e)</sup> | 3.00% - 5Y EUR SWAP | 08/27/2080 |  | 85702 |
|  |  |  |  |  |  | 660818 |
| ***Hong Kong - 0.20%*** | ***Hong Kong - 0.20%*** | ***Hong Kong - 0.20%*** | ***Hong Kong - 0.20%*** | ***Hong Kong - 0.20%*** | ***Hong Kong - 0.20%*** | ***Hong Kong - 0.20%*** |
|  | 150000 | Seaspan Corp.<sup>(d)</sup> | 5.50% | 08/01/2029 |  | 113870 |
| ***Ireland - 0.34%*** | ***Ireland - 0.34%*** | ***Ireland - 0.34%*** | ***Ireland - 0.34%*** | ***Ireland - 0.34%*** | ***Ireland - 0.34%*** | ***Ireland - 0.34%*** |
|  | 100000 | eircom Finance DAC | 3.50% | 05/15/2026 |  | 96922 |
|  | 100000 | Virgin Media Vendor Financing Notes III DAC<sup>(d)</sup> | 4.88% | 07/15/2028 |  | 98042 |
|  |  |  |  |  |  | 194964 |
| ***Isle Of Man - 0.18%*** | ***Isle Of Man - 0.18%*** | ***Isle Of Man - 0.18%*** | ***Isle Of Man - 0.18%*** | ***Isle Of Man - 0.18%*** | ***Isle Of Man - 0.18%*** | ***Isle Of Man - 0.18%*** |
|  | 100000 | Playtech PLC | 4.25% | 03/07/2026 |  | 101423 |
| ***Italy - 1.01%*** | ***Italy - 1.01%*** | ***Italy - 1.01%*** | ***Italy - 1.01%*** | ***Italy - 1.01%*** | ***Italy - 1.01%*** | ***Italy - 1.01%*** |
|  | 100000 | Cedacri Mergeco SPA<sup>(d)</sup> | 3M EUR L + 4.625% | 05/15/2028 |  | 99795 |
|  | 100000 | Centurion Bidco SpA<sup>(f)</sup> | 5.88% | 09/30/2026 |  | 92874 |
|  | 100000 | Guala Closures SpA<sup>(f)</sup> | 3.25% | 06/15/2028 |  | 91858 |
|  | 100000 | Mooney Group SpA<sup>(f)</sup> | 3M EUR L + 3.875% | 12/17/2026 |  | 101759 |
|  | 100000 | TeamSystem SpA<sup>(d)</sup> | 3.50% | 02/15/2028 |  | 89893 |
|  | 100000 | Telecom Italia SpA | 4.00% | 04/11/2024 |  | 104623 |
|  |  |  |  |  |  | 580802 |
| ***Jersey - 0.17%*** | ***Jersey - 0.17%*** | ***Jersey - 0.17%*** | ***Jersey - 0.17%*** | ***Jersey - 0.17%*** | ***Jersey - 0.17%*** | ***Jersey - 0.17%*** |
|  | 100000 | AA Bond Co., Ltd.<sup>(f)</sup> | 6.50% | 01/31/2026 |  | 97045 |
| ***Luxembourg - 1.64%*** | ***Luxembourg - 1.64%*** | ***Luxembourg - 1.64%*** | ***Luxembourg - 1.64%*** | ***Luxembourg - 1.64%*** | ***Luxembourg - 1.64%*** | ***Luxembourg - 1.64%*** |
|  | 55000 | Altice Financing SA<sup>(d)</sup> | 5.75% | 08/15/2029 |  | 43364 |
|  | 100000 | Altice Financing SA<sup>(d)</sup> | 4.25% | 08/15/2029 |  | 86880 |
|  | 100000 | Altice France Holding SA<sup>(d)</sup> | 4.00% | 02/15/2028 |  | 69350 |
|  | 100000 | Dana Financing Luxembourg Sarl<sup>(d)</sup> | 3.00% | 07/15/2029 |  | 82355 |
|  | 100000 | Hanesbrands Finance Luxembourg SCA<sup>(f)</sup> | 3.50% | 06/15/2024 |  | 104021 |
|  | 70000 | Intelsat Jackson Holdings SA<sup>(d)</sup> | 6.50% | 03/15/2030 |  | 62754 |
|  | 55000 | ION Trading Technologies Sarl<sup>(d)</sup> | 5.75% | 05/15/2028 |  | 46087 |
|  | 100000 | Matterhorn Telecom SA<sup>(f)</sup> | 4.00% | 11/15/2027 |  | 98117 |
|  | 110000 | SK Invictus Intermediate II Sarl<sup>(d)</sup> | 5.00% | 10/30/2029 |  | 90343 |
|  | 100000 | Summer BC Holdco B SARL<sup>(f)</sup> | 5.75% | 10/31/2026 |  | 91657 |
|  | 85000 | Telecom Italia Capital SA | 6.38% | 11/15/2033 |  | 69669 |
|  | 100000 | Telenet Finance Luxembourg Notes SARL<sup>(f)</sup> | 3.50% | 03/01/2028 |  | 96974 |
|  |  |  |  |  |  | 941571 |
| ***Netherlands - 1.62%*** | ***Netherlands - 1.62%*** | ***Netherlands - 1.62%*** | ***Netherlands - 1.62%*** | ***Netherlands - 1.62%*** | ***Netherlands - 1.62%*** | ***Netherlands - 1.62%*** |
|  | 100000 | Dufry One BV | 2.50% | 10/15/2024 |  | 104276 |
|  | 115000 | Energizer Gamma Acquisition BV<sup>(d)</sup> | 3.50% | 06/30/2029 |  | 98921 |
|  | 100000 | Telefonica Europe BV<sup>(c)(e)</sup> | 4.38% | Perpetual Maturity |  | 102382 |
|  | 125000 | TMNL Holding BV<sup>(d)</sup> | 3.75% | 01/15/2029 |  | 117576 |
|  | 100000 | Trivium Packaging Finance BV<sup>(d)</sup> | 3.75% | 08/15/2026 |  | 98207 |
|  | 200000 | UPC Holding BV<sup>(d)</sup> | 5.50% | 01/15/2028 |  | 177816 |
|  | 45000 | Ziggo Bond Co. BV<sup>(d)</sup> | 5.13% | 02/28/2030 |  | 36411 |
|  | 100000 | Ziggo Bond Co. BV<sup>(f)</sup> | 3.38% | 02/28/2030 |  | 77752 |
|  | 145000 | Ziggo Bond Co. BV<sup>(d)</sup> | 3.38% | 02/28/2030 |  | 112740 |
|  |  |  |  |  |  | 926081 |
| ***Spain - 0.68%*** | ***Spain - 0.68%*** | ***Spain - 0.68%*** | ***Spain - 0.68%*** | ***Spain - 0.68%*** | ***Spain - 0.68%*** | ***Spain - 0.68%*** |
|  | 100000 | Grifols Escrow Issuer SA<sup>(d)</sup> | 3.88% | 10/15/2028 |  | 90548 |
|  | 100000 | Kaixo Bondco Telecom SA<sup>(d)</sup> | 5.13% | 09/30/2029 |  | 91523 |
|  | 105000 | Lorca Telecom Bondco SA<sup>(d)</sup> | 4.00% | 09/18/2027 |  | 101017 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Principal Amount/Description** | **Principal Amount/Description** | **Principal Amount/Description** | **Rate** | **Maturity** | **Value** | **Value** |
| $| 100000 | Tendam Brands SAU<sup>(f)</sup> | 3M EUR L + 7.50% | 03/31/2028 | $| 104069 |
|  |  |  |  |  |  | 387157 |
| ***Sweden - 0.39%*** | ***Sweden - 0.39%*** | ***Sweden - 0.39%*** | ***Sweden - 0.39%*** | ***Sweden - 0.39%*** | ***Sweden - 0.39%*** | ***Sweden - 0.39%*** |
|  | 100000 | Samhallsbyggnadsbolaget i Norden AB<sup>(c)(e)</sup> | 3.223% - 5Y EUR SWAP | 12/31/2049 |  | 42636 |
|  | 100000 | Verisure Holding AB<sup>(f)</sup> | 3.88% | 07/15/2026 |  | 97278 |
|  | 100000 | Verisure Midholding AB<sup>(f)</sup> | 5.25% | 02/15/2029 |  | 85903 |
|  |  |  |  |  |  | 225817 |
| ***United States - 32.00%*** | ***United States - 32.00%*** | ***United States - 32.00%*** | ***United States - 32.00%*** | ***United States - 32.00%*** | ***United States - 32.00%*** | ***United States - 32.00%*** |
|  | 40000 | Academy, Ltd.<sup>(d)</sup> | 6.00% | 11/15/2027 |  | 38352 |
|  | 135000 | Acadia Healthcare Co., Inc.<sup>(d)</sup> | 5.50% | 07/01/2028 |  | 128263 |
|  | 95000 | ACCO Brands Corp.<sup>(d)</sup> | 4.25% | 03/15/2029 |  | 78498 |
|  | 70000 | Acuris Finance US, Inc. / Acuris Finance SARL<sup>(d)</sup> | 5.00% | 05/01/2028 |  | 56205 |
|  | 55000 | ADT Security Corp.<sup>(d)</sup> | 4.13% | 08/01/2029 |  | 46849 |
|  | 65000 | Affinity Gaming<sup>(d)</sup> | 6.88% | 12/15/2027 |  | 55191 |
|  | 70000 | Ahead DB Holdings LLC<sup>(d)</sup> | 6.63% | 05/01/2028 |  | 56353 |
|  | 170000 | Albertsons Cos. Inc / Safeway, Inc. / New Albertsons LP / Albertsons LLC<sup>(d)</sup> | 5.88% | 02/15/2028 |  | 161908 |
|  | 150000 | Allied Universal Holdco LLC / Allied Universal Finance Corp.<sup>(d)</sup> | 6.63% | 07/15/2026 |  | 137559 |
|  | 60000 | Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 Sarl<sup>(d)</sup> | 4.63% | 06/01/2028 |  | 49668 |
|  | 125000 | AMC Networks, Inc. | 4.25% | 02/15/2029 |  | 78071 |
|  | 115000 | American Airlines, Inc.<sup>(d)</sup> | 11.75% | 07/15/2025 |  | 123605 |
|  | 95000 | American Axle & Manufacturing, Inc. | 5.00% | 10/01/2029 |  | 76719 |
|  | 95000 | APX Group, Inc.<sup>(d)</sup> | 6.75% | 02/15/2027 |  | 91589 |
|  | 65000 | APX Group, Inc.<sup>(d)</sup> | 5.75% | 07/15/2029 |  | 53917 |
|  | 10000 | Aramark Services, Inc.<sup>(d)</sup> | 6.38% | 05/01/2025 |  | 9897 |
|  | 115000 | Aramark Services, Inc.<sup>(d)</sup> | 5.00% | 02/01/2028 |  | 107522 |
|  | 45000 | Archrock Partners LP / Archrock Partners Finance Corp.<sup>(d)</sup> | 6.88% | 04/01/2027 |  | 43031 |
|  | 125000 | Archrock Partners LP / Archrock Partners Finance Corp.<sup>(d)</sup> | 6.25% | 04/01/2028 |  | 114580 |
|  | 105000 | Arconic Corp.<sup>(d)</sup> | 6.13% | 02/15/2028 |  | 98698 |
|  | 75000 | Ascent Resources Utica Holdings LLC / ARU Finance Corp.<sup>(d)</sup> | 7.00% | 11/01/2026 |  | 72868 |
|  | 110000 | ASP Unifrax Holdings, Inc.<sup>(d)</sup> | 5.25% | 09/30/2028 |  | 88659 |
|  | 150000 | AssuredPartners, Inc.<sup>(d)</sup> | 5.63% | 01/15/2029 |  | 123651 |
|  | 75000 | AthenaHealth Group, Inc.<sup>(d)</sup> | 6.50% | 02/15/2030 |  | 55411 |
|  | 85000 | Avient Corp.<sup>(d)</sup> | 7.13% | 08/01/2030 |  | 83205 |
|  | 200000 | Bausch Health Cos., Inc.<sup>(d)</sup> | 6.13% | 02/01/2027 |  | 138176 |
|  | 65000 | Bausch Health Cos., Inc.<sup>(d)</sup> | 4.88% | 06/01/2028 |  | 41464 |
|  | 145000 | BellRing Brands, Inc.<sup>(d)</sup> | 7.00% | 03/15/2030 |  | 139711 |
|  | 60000 | Big River Steel LLC / BRS Finance Corp.<sup>(d)</sup> | 6.63% | 01/31/2029 |  | 57270 |
|  | 45000 | Buckeye Partners LP<sup>(d)</sup> | 4.50% | 03/01/2028 |  | 39625 |
|  | 55000 | Cable One, Inc.<sup>(h)</sup> | 0.00% | 03/15/2026 |  | 43478 |
|  | 85000 | Cablevision Lightpath LLC<sup>(d)</sup> | 5.63% | 09/15/2028 |  | 63302 |
|  | 300000 | Caesars Entertainment, Inc.<sup>(d)</sup> | 6.25% | 07/01/2025 |  | 292112 |
|  | 130000 | Callon Petroleum Co.<sup>(d)</sup> | 7.50% | 06/15/2030 |  | 119119 |
|  | 160000 | Calpine Corp.<sup>(d)</sup> | 5.13% | 03/15/2028 |  | 143092 |
|  | 100000 | Carnival Corp.<sup>(f)</sup> | 10.13% | 02/01/2026 |  | 106704 |
|  | 175000 | Carnival Corp.<sup>(d)</sup> | 5.75% | 03/01/2027 |  | 125260 |
|  | 30000 | Carnival Corp.<sup>(d)</sup> | 10.50% | 06/01/2030 |  | 24442 |
|  | 50000 | CCO Holdings LLC / CCO Holdings Capital Corp.<sup>(d)</sup> | 5.50% | 05/01/2026 |  | 48487 |
|  | 25000 | CCO Holdings LLC / CCO Holdings Capital Corp.<sup>(d)</sup> | 5.00% | 02/01/2028 |  | 22755 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal Amount/Description** | **Principal Amount/Description** | **Rate** | **Maturity** | **Value** |
| $15000 | CCO Holdings LLC / CCO Holdings Capital Corp.<sup>(d)</sup> | 5.38% | 06/01/2029 | $13598 |
| 175000 | CCO Holdings LLC / CCO Holdings Capital Corp.<sup>(d)</sup> | 6.38% | 09/01/2029 | 164791 |
| 120000 | CCO Holdings LLC / CCO Holdings Capital Corp.<sup>(d)</sup> | 4.75% | 03/01/2030 | 103764 |
| 55000 | CDI Escrow Issuer, Inc.<sup>(d)</sup> | 5.75% | 04/01/2030 | 49400 |
| 130000 | Cedar Fair LP | 5.25% | 07/15/2029 | 116955 |
| 65000 | Central Garden & Pet Co. | 5.13% | 02/01/2028 | 60571 |
| 75000 | Chart Industries, Inc.<sup>(d)</sup> | 7.50% | 01/01/2030 | 75490 |
| 35000 | Chart Industries, Inc.<sup>(d)</sup> | 9.50% | 01/01/2031 | 35939 |
| 90000 | Cheniere Energy, Inc. | 4.63% | 10/15/2028 | 81521 |
| 60000 | CHS/Community Health Systems, Inc.<sup>(d)</sup> | 5.63% | 03/15/2027 | 51557 |
| 160000 | CHS/Community Health Systems, Inc.<sup>(d)</sup> | 6.00% | 01/15/2029 | 134045 |
| 15000 | CHS/Community Health Systems, Inc.<sup>(d)</sup> | 4.75% | 02/15/2031 | 10918 |
| 65000 | Churchill Downs, Inc.<sup>(d)</sup> | 5.50% | 04/01/2027 | 61692 |
| 10000 | Churchill Downs, Inc.<sup>(d)</sup> | 4.75% | 01/15/2028 | 8964 |
| 205000 | CITGO Petroleum Corp.<sup>(d)</sup> | 7.00% | 06/15/2025 | 200425 |
| 35000 | CITGO Petroleum Corp.<sup>(d)</sup> | 6.38% | 06/15/2026 | 33785 |
| 65000 | Cleveland-Cliffs, Inc.<sup>(d)</sup> | 6.75% | 03/15/2026 | 65274 |
| 190000 | Cloud Software Group Holdings, Inc.<sup>(d)</sup> | 6.50% | 03/31/2029 | 160373 |
| 100000 | Clydesdale Acquisition Holdings, Inc.<sup>(d)</sup> | 6.63% | 04/15/2029 | 95203 |
| 70000 | Cogent Communications Group, Inc.<sup>(d)</sup> | 7.00% | 06/15/2027 | 68682 |
| 75000 | Colgate Energy Partners III LLC<sup>(d)</sup> | 7.75% | 02/15/2026 | 73117 |
| 35000 | Colgate Energy Partners III LLC<sup>(d)</sup> | 5.88% | 07/01/2029 | 30105 |
| 30000 | CommScope, Inc.<sup>(d)</sup> | 6.00% | 03/01/2026 | 27749 |
| 155000 | CommScope, Inc.<sup>(d)</sup> | 8.25% | 03/01/2027 | 120370 |
| 25000 | CommScope, Inc.<sup>(d)</sup> | 7.13% | 07/01/2028 | 17912 |
| 30000 | CommScope, Inc.<sup>(d)</sup> | 4.75% | 09/01/2029 | 24242 |
| 145000 | Compass Group Diversified Holdings LLC<sup>(d)</sup> | 5.25% | 04/15/2029 | 124278 |
| 85000 | Comstock Resources, Inc.<sup>(d)</sup> | 6.75% | 03/01/2029 | 76866 |
| 25000 | Comstock Resources, Inc.<sup>(d)</sup> | 5.88% | 01/15/2030 | 21525 |
| 55000 | Consensus Cloud Solutions, Inc.<sup>(d)</sup> | 6.50% | 10/15/2028 | 50659 |
| 70000 | Consolidated Communications, Inc.<sup>(d)</sup> | 5.00% | 10/01/2028 | 51714 |
| 60000 | Coty, Inc.<sup>(d)</sup> | 6.50% | 04/15/2026 | 57693 |
| 130000 | Coty, Inc.<sup>(d)</sup> | 5.00% | 04/15/2026 | 123456 |
| 115000 | Crocs, Inc.<sup>(d)</sup> | 4.25% | 03/15/2029 | 97563 |
| 87000 | CrownRock LP / CrownRock Finance, Inc.<sup>(d)</sup> | 5.63% | 10/15/2025 | 84132 |
| 35000 | CrownRock LP / CrownRock Finance, Inc.<sup>(d)</sup> | 5.00% | 05/01/2029 | 31635 |
| 115000 | CSC Holdings LLC<sup>(d)</sup> | 5.75% | 01/15/2030 | 65112 |
| 85000 | CSC Holdings LLC<sup>(d)</sup> | 4.13% | 12/01/2030 | 60183 |
| 10000 | CSC Holdings LLC<sup>(d)</sup> | 4.50% | 11/15/2031 | 6957 |
| 25000 | CSC Holdings LLC<sup>(d)</sup> | 5.00% | 11/15/2031 | 14000 |
| 100000 | CVR Energy, Inc.<sup>(d)</sup> | 5.25% | 02/15/2025 | 92149 |
| 30000 | CVR Energy, Inc.<sup>(d)</sup> | 5.75% | 02/15/2028 | 26162 |
| 20000 | Dana, Inc. | 5.38% | 11/15/2027 | 18587 |
| 30000 | Dana, Inc. | 5.63% | 06/15/2028 | 27344 |
| 130000 | DaVita, Inc.<sup>(d)</sup> | 4.63% | 06/01/2030 | 104850 |
| 30000 | DCP Midstream Operating LP<sup>(d)</sup> | 6.45% | 11/03/2036 | 29619 |
| 20000 | DCP Midstream Operating LP | 5.60% | 04/01/2044 | 18683 |
| 145000 | Directv Financing LLC / Directv Financing Co.-Obligor, Inc.<sup>(d)</sup> | 5.88% | 08/15/2027 | 130001 |
| 35000 | DISH DBS Corp. | 7.75% | 07/01/2026 | 28296 |
| 85000 | DISH DBS Corp.<sup>(d)</sup> | 5.25% | 12/01/2026 | 71758 |
| 30000 | DISH DBS Corp.<sup>(d)</sup> | 5.75% | 12/01/2028 | 24000 |
| 55000 | DISH DBS Corp. | 5.13% | 06/01/2029 | 35584 |
| 150000 | Edgewell Personal Care Co.<sup>(d)</sup> | 5.50% | 06/01/2028 | 140550 |
| 65000 | Elastic NV<sup>(d)</sup> | 4.13% | 07/15/2029 | 52583 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal Amount/Description** | **Principal Amount/Description** | **Rate** | **Maturity** | **Value** |
| $75000 | EnLink Midstream LLC<sup>(d)</sup> | 5.63% | 01/15/2028 | $71542 |
| 60000 | EnLink Midstream Partners LP | 5.05% | 04/01/2045 | 45576 |
| 40000 | EQM Midstream Partners LP<sup>(d)</sup> | 7.50% | 06/01/2027 | 39224 |
| 15000 | EQM Midstream Partners LP<sup>(d)</sup> | 4.50% | 01/15/2029 | 12621 |
| 40000 | EQM Midstream Partners LP<sup>(d)</sup> | 4.75% | 01/15/2031 | 32778 |
| 90000 | Everi Holdings, Inc.<sup>(d)</sup> | 5.00% | 07/15/2029 | 77424 |
| 50000 | Fertitta Entertainment LLC / Fertitta Entertainment Finance Co., Inc.<sup>(d)</sup> | 4.63% | 01/15/2029 | 42377 |
| 50000 | Fertitta Entertainment LLC / Fertitta Entertainment Finance Co., Inc.<sup>(d)</sup> | 6.75% | 01/15/2030 | 40424 |
| 10000 | FirstCash, Inc.<sup>(d)</sup> | 4.63% | 09/01/2028 | 8795 |
| 90000 | FirstCash, Inc.<sup>(d)</sup> | 5.63% | 01/01/2030 | 80223 |
| 25000 | Ford Motor Credit Co. LLC | 2.30% | 02/10/2025 | 22864 |
| 95000 | Ford Motor Credit Co. LLC | 7.35% | 11/04/2027 | 97584 |
| 15000 | Ford Motor Credit Co. LLC | 2.90% | 02/16/2028 | 12407 |
| 5000 | Ford Motor Credit Co. LLC | 5.11% | 05/03/2029 | 4539 |
| 325000 | Ford Motor Credit Co. LLC | 4.00% | 11/13/2030 | 267412 |
| 200000 | Fortress Transportation and Infrastructure Investors LLC<sup>(d)</sup> | 6.50% | 10/01/2025 | 188391 |
| 5000 | Fortress Transportation and Infrastructure Investors LLC<sup>(d)</sup> | 5.50% | 05/01/2028 | 4272 |
| 30000 | Frontier Communications Holdings LLC<sup>(d)</sup> | 5.88% | 10/15/2027 | 27923 |
| 195000 | Frontier Communications Holdings LLC<sup>(d)</sup> | 5.00% | 05/01/2028 | 170432 |
| 35000 | Frontier Communications Holdings LLC<sup>(d)</sup> | 6.75% | 05/01/2029 | 29002 |
| 80000 | Gen Digital, Inc.<sup>(d)</sup> | 6.75% | 09/30/2027 | 78504 |
| 35000 | Go Daddy Operating Co. LLC / GD Finance Co, Inc.<sup>(d)</sup> | 5.25% | 12/01/2027 | 33186 |
| 55000 | Goodyear Tire & Rubber Co. | 9.50% | 05/31/2025 | 56602 |
| 160000 | Gray Television, Inc.<sup>(d)</sup> | 4.75% | 10/15/2030 | 116000 |
| 150000 | Greystar Real Estate Partners LLC<sup>(d)</sup> | 5.75% | 12/01/2025 | 146846 |
| 170000 | HAT Holdings I LLC / HAT Holdings II LLC<sup>(d)</sup> | 3.38% | 06/15/2026 | 147932 |
| 130000 | Hawaiian Brand Intellectual Property, Ltd. / HawaiianMiles Loyalty, Ltd.<sup>(d)</sup> | 5.75% | 01/20/2026 | 117897 |
| 105000 | Hertz Corp.<sup>(d)</sup> | 4.63% | 12/01/2026 | 88069 |
| 75000 | Hess Midstream Operations LP<sup>(d)</sup> | 5.63% | 02/15/2026 | 73179 |
| 5000 | Hess Midstream Operations LP<sup>(d)</sup> | 5.13% | 06/15/2028 | 4632 |
| 50000 | Hess Midstream Operations LP<sup>(d)</sup> | 4.25% | 02/15/2030 | 42814 |
| 155000 | Hilton Grand Vacations Borrower Escrow LLC / Hilton Grand Vacations Borrower Esc<sup>(d)</sup> | 5.00% | 06/01/2029 | 133498 |
| 40000 | Holly Energy Partners LP / Holly Energy Finance Corp.<sup>(d)</sup> | 6.38% | 04/15/2027 | 39352 |
| 55000 | HUB International, Ltd.<sup>(d)</sup> | 7.00% | 05/01/2026 | 53956 |
| 45000 | HUB International, Ltd.<sup>(d)</sup> | 5.63% | 12/01/2029 | 39361 |
| 165000 | Hunt Companies, Inc.<sup>(d)</sup> | 5.25% | 04/15/2029 | 138899 |
| 40000 | IAA, Inc.<sup>(d)</sup> | 5.50% | 06/15/2027 | 39083 |
| 10000 | iHeartCommunications, Inc. | 8.38% | 05/01/2027 | 8525 |
| 110000 | iHeartCommunications, Inc.<sup>(d)</sup> | 5.25% | 08/15/2027 | 93353 |
| 85000 | Imola Merger Corp.<sup>(d)</sup> | 4.75% | 05/15/2029 | 73918 |
| 100000 | IQVIA, Inc.<sup>(f)</sup> | 2.88% | 06/15/2028 | 95805 |
| 180000 | Iron Mountain, Inc.<sup>(d)</sup> | 5.25% | 03/15/2028 | 165886 |
| 15000 | Iron Mountain, Inc.<sup>(d)</sup> | 5.00% | 07/15/2028 | 13499 |
| 55000 | Iron Mountain, Inc.<sup>(d)</sup> | 5.25% | 07/15/2030 | 47919 |
| 155000 | Kennedy-Wilson, Inc. | 4.75% | 03/01/2029 | 123046 |
| 55000 | Kinetik Holdings LP<sup>(d)</sup> | 5.88% | 06/15/2030 | 51652 |
| 2000 | Kraft Heinz Foods Co. | 6.88% | 01/26/2039 | 2179 |
| 90000 | LABL, Inc.<sup>(d)</sup> | 5.88% | 11/01/2028 | 78583 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal Amount/Description** | **Principal Amount/Description** | **Rate** | **Maturity** | **Value** |
| $45000 | Laredo Petroleum, Inc. | 9.50% | 01/15/2025 | $44424 |
| 70000 | LD Holdings Group LLC<sup>(d)</sup> | 6.50% | 11/01/2025 | 47281 |
| 120000 | Legends Hospitality Holding Co. LLC / Legends Hospitality Co-Issuer, Inc.<sup>(d)</sup> | 5.00% | 02/01/2026 | 106950 |
| 20000 | Level 3 Financing, Inc.<sup>(d)</sup> | 4.63% | 09/15/2027 | 16685 |
| 75000 | LFS Topco LLC<sup>(d)</sup> | 5.88% | 10/15/2026 | 60616 |
| 130000 | Live Nation Entertainment, Inc.<sup>(d)</sup> | 4.75% | 10/15/2027 | 115944 |
| 165000 | Lumen Technologies, Inc.<sup>(d)</sup> | 5.13% | 12/15/2026 | 143699 |
| 5000 | Lumen Technologies, Inc.<sup>(d)</sup> | 4.50% | 01/15/2029 | 3458 |
| 28000 | Marriott Ownership Resorts, Inc.<sup>(d)</sup> | 6.13% | 09/15/2025 | 28858 |
| 145000 | Marriott Ownership Resorts, Inc.<sup>(d)</sup> | 4.50% | 06/15/2029 | 120484 |
| 100000 | Mauser Packaging Solutions Holding Co.<sup>(f)</sup> | 4.75% | 04/15/2024 | 103378 |
| 95000 | Maxar Technologies, Inc.<sup>(d)</sup> | 7.75% | 06/15/2027 | 98739 |
| 110000 | Medline Borrower LP<sup>(d)</sup> | 5.25% | 10/01/2029 | 87566 |
| 60000 | Mercer International, Inc. | 5.50% | 01/15/2026 | 56935 |
| 34000 | MGIC Investment Corp. | 5.25% | 08/15/2028 | 31408 |
| 40000 | MGM Resorts International | 6.75% | 05/01/2025 | 40267 |
| 80000 | Midwest Gaming Borrower LLC / Midwest Gaming Finance Corp.<sup>(d)</sup> | 4.88% | 05/01/2029 | 68173 |
| 60000 | ModivCare Escrow Issuer, Inc.<sup>(d)</sup> | 5.00% | 10/01/2029 | 50676 |
| 30000 | ModivCare, Inc.<sup>(d)</sup> | 5.88% | 11/15/2025 | 28218 |
| 100000 | MPH Acquisition Holdings LLC<sup>(d)</sup> | 5.50% | 09/01/2028 | 78214 |
| 105000 | Nabors Industries, Ltd.<sup>(d)</sup> | 7.25% | 01/15/2026 | 99118 |
| 30000 | Nabors Industries, Ltd.<sup>(d)</sup> | 7.50% | 01/15/2028 | 27494 |
| 65000 | Nationstar Mortgage Holdings, Inc.<sup>(d)</sup> | 6.00% | 01/15/2027 | 58278 |
| 25000 | Nationstar Mortgage Holdings, Inc.<sup>(d)</sup> | 5.50% | 08/15/2028 | 20426 |
| 35000 | Nationstar Mortgage Holdings, Inc.<sup>(d)</sup> | 5.75% | 11/15/2031 | 27258 |
| 35000 | NCR Corp.<sup>(d)</sup> | 5.75% | 09/01/2027 | 33547 |
| 115000 | NCR Corp.<sup>(d)</sup> | 5.13% | 04/15/2029 | 96382 |
| 70000 | NCR Corp.<sup>(d)</sup> | 6.13% | 09/01/2029 | 65566 |
| 100000 | Necessity Retail REIT, Inc. / American Finance Operating Partner LP<sup>(d)</sup> | 4.50% | 09/30/2028 | 73647 |
| 35000 | New Enterprise Stone & Lime Co., Inc.<sup>(d)</sup> | 9.75% | 07/15/2028 | 32453 |
| 115000 | New Enterprise Stone & Lime Co., Inc.<sup>(d)</sup> | 5.25% | 07/15/2028 | 102266 |
| 55000 | Newell Brands, Inc. | 6.38% | 09/15/2027 | 54659 |
| 50000 | Newell Brands, Inc. | 6.63% | 09/15/2029 | 49486 |
| 130000 | NFP Corp.<sup>(d)</sup> | 6.88% | 08/15/2028 | 107442 |
| 65000 | NFP Corp.<sup>(d)</sup> | 4.88% | 08/15/2028 | 55419 |
| 80000 | NRG Energy, Inc.<sup>(d)</sup> | 3.63% | 02/15/2031 | 60962 |
| 5000 | NuStar Logistics LP | 6.00% | 06/01/2026 | 4823 |
| 55000 | NuStar Logistics LP | 6.38% | 10/01/2030 | 50954 |
| 40000 | Oceaneering International, Inc. | 4.65% | 11/15/2024 | 38264 |
| 20000 | Oceaneering International, Inc. | 6.00% | 02/01/2028 | 18452 |
| 50000 | Olympus Water US Holding Corp.<sup>(d)</sup> | 7.13% | 10/01/2027 | 47940 |
| 75000 | Olympus Water US Holding Corp.<sup>(d)</sup> | 4.25% | 10/01/2028 | 60986 |
| 55000 | Olympus Water US Holding Corp.<sup>(d)</sup> | 6.25% | 10/01/2029 | 41828 |
| 160000 | OneMain Finance Corp. | 7.13% | 03/15/2026 | 152498 |
| 150000 | Open Text Holdings, Inc.<sup>(d)</sup> | 4.13% | 02/15/2030 | 120591 |
| 150000 | Organon & Co. / Organon Foreign Debt Co-Issuer BV<sup>(d)</sup> | 5.13% | 04/30/2031 | 130145 |
| 70000 | Outfront Media Capital LLC / Outfront Media Capital Corp.<sup>(d)</sup> | 6.25% | 06/15/2025 | 69457 |
| 20000 | Outfront Media Capital LLC / Outfront Media Capital Corp.<sup>(d)</sup> | 5.00% | 08/15/2027 | 18036 |
| 25000 | Owens & Minor, Inc.<sup>(d)</sup> | 4.50% | 03/31/2029 | 19965 |
| 75000 | Owens & Minor, Inc.<sup>(d)</sup> | 6.63% | 04/01/2030 | 64553 |
| 105000 | Pactiv Evergreen Group Issuer LLC / Pactiv Evergreen Group Issuer, Inc.<sup>(d)</sup> | 4.38% | 10/15/2028 | 93941 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal Amount/Description** | **Principal Amount/Description** | **Rate** | **Maturity** | **Value** |
| $80000 | Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co.-Issuer | 5.88% | 10/01/2028 | $72648 |
| 150000 | Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co.-Issuer<sup>(d)</sup> | 4.88% | 05/15/2029 | 127170 |
| 65000 | PDC Energy, Inc. | 5.75% | 05/15/2026 | 62153 |
| 170000 | Pediatrix Medical Group, Inc.<sup>(d)</sup> | 5.38% | 02/15/2030 | 147970 |
| 50000 | PennyMac Financial Services, Inc.<sup>(d)</sup> | 5.38% | 10/15/2025 | 45149 |
| 75000 | Performance Food Group, Inc.<sup>(d)</sup> | 5.50% | 10/15/2027 | 70897 |
| 135000 | Pike Corp.<sup>(d)</sup> | 5.50% | 09/01/2028 | 118242 |
| 225000 | Post Holdings, Inc.<sup>(d)</sup> | 5.50% | 12/15/2029 | 204075 |
| 180000 | Prime Security Services Borrower LLC / Prime Finance, Inc.<sup>(d)</sup> | 6.25% | 01/15/2028 | 164200 |
| 110000 | Primo Water Holdings, Inc.<sup>(f)</sup> | 3.88% | 10/31/2028 | 104945 |
| 45000 | QVC, Inc. | 4.75% | 02/15/2027 | 31927 |
| 50000 | QVC, Inc. | 4.38% | 09/01/2028 | 29965 |
| 80000 | Railworks Holdings LP / Railworks Rally, Inc.<sup>(d)</sup> | 8.25% | 11/15/2028 | 74104 |
| 40000 | RLJ Lodging Trust LP<sup>(d)</sup> | 4.00% | 09/15/2029 | 32484 |
| 70000 | Rockcliff Energy II LLC<sup>(d)</sup> | 5.50% | 10/15/2029 | 64136 |
| 20000 | Royal Caribbean Cruises, Ltd.<sup>(d)</sup> | 5.38% | 07/15/2027 | 16219 |
| 95000 | Royal Caribbean Cruises, Ltd.<sup>(d)</sup> | 5.50% | 04/01/2028 | 75983 |
| 50000 | Sabre GLBL, Inc.<sup>(d)</sup> | 7.38% | 09/01/2025 | 48135 |
| 100000 | SCIL IV LLC / SCIL USA Holdings LLC<sup>(d)</sup> | 5.38% | 11/01/2026 | 84875 |
| 85000 | Scotts Miracle-Gro Co. | 4.00% | 04/01/2031 | 65060 |
| 100000 | SeaWorld Parks & Entertainment, Inc.<sup>(d)</sup> | 5.25% | 08/15/2029 | 87200 |
| 35000 | SEG Holding LLC / SEG Finance Corp.<sup>(d)</sup> | 5.63% | 10/15/2028 | 33006 |
| 80000 | Six Flags Entertainment Corp.<sup>(d)</sup> | 5.50% | 04/15/2027 | 72176 |
| 15000 | Six Flags Theme Parks, Inc.<sup>(d)</sup> | 7.00% | 07/01/2025 | 15127 |
| 40000 | Spectrum Brands, Inc.<sup>(d)</sup> | 5.00% | 10/01/2029 | 34682 |
| 20000 | Spectrum Brands, Inc.<sup>(d)</sup> | 5.50% | 07/15/2030 | 17684 |
| 90000 | Spectrum Brands, Inc.<sup>(d)</sup> | 3.88% | 03/15/2031 | 70113 |
| 110000 | Spirit AeroSystems, Inc.<sup>(d)</sup> | 7.50% | 04/15/2025 | 108934 |
| 30000 | Spirit AeroSystems, Inc. | 3.85% | 06/15/2026 | 27197 |
| 10000 | Spirit AeroSystems, Inc.<sup>(d)</sup> | 9.38% | 11/30/2029 | 10539 |
| 100000 | Standard Industries, Inc.<sup>(f)</sup> | 2.25% | 11/21/2026 | 91989 |
| 40000 | Standard Industries, Inc.<sup>(d)</sup> | 5.00% | 02/15/2027 | 36969 |
| 85000 | Standard Industries, Inc.<sup>(d)</sup> | 4.75% | 01/15/2028 | 76615 |
| 40000 | Suburban Propane Partners LP/Suburban Energy Finance Corp. | 5.88% | 03/01/2027 | 38268 |
| 180000 | Tenet Healthcare Corp.<sup>(d)</sup> | 6.25% | 02/01/2027 | 173257 |
| 15000 | Tenet Healthcare Corp.<sup>(d)</sup> | 5.13% | 11/01/2027 | 13984 |
| 20000 | Tenet Healthcare Corp.<sup>(d)</sup> | 6.13% | 10/01/2028 | 17949 |
| 90000 | Tenet Healthcare Corp.<sup>(d)</sup> | 6.13% | 06/15/2030 | 85910 |
| 135000 | TMS International Corp.<sup>(d)</sup> | 6.25% | 04/15/2029 | 96890 |
| 105000 | TransDigm, Inc.<sup>(d)</sup> | 8.00% | 12/15/2025 | 106784 |
| 70000 | TransDigm, Inc.<sup>(d)</sup> | 6.25% | 03/15/2026 | 69187 |
| 80000 | TransDigm, Inc. | 6.38% | 06/15/2026 | 77953 |
| 55000 | TransDigm, Inc. | 5.50% | 11/15/2027 | 51760 |
| 70000 | TransDigm, Inc. | 4.63% | 01/15/2029 | 61672 |
| 80000 | Uber Technologies, Inc.<sup>(d)</sup> | 7.50% | 05/15/2025 | 80059 |
| 70000 | Uber Technologies, Inc.<sup>(d)</sup> | 7.50% | 09/15/2027 | 70191 |
| 20000 | Uber Technologies, Inc.<sup>(d)</sup> | 6.25% | 01/15/2028 | 19231 |
| 55000 | Univar Solutions USA, Inc./Washington<sup>(d)</sup> | 5.13% | 12/01/2027 | 52254 |
| 115000 | Univision Communications, Inc.<sup>(d)</sup> | 6.63% | 06/01/2027 | 111197 |
| 45000 | Univision Communications, Inc.<sup>(d)</sup> | 7.38% | 06/30/2030 | 43061 |
| 40000 | US Foods, Inc.<sup>(d)</sup> | 6.25% | 04/15/2025 | 39646 |
| 65000 | US Foods, Inc.<sup>(d)</sup> | 4.63% | 06/01/2030 | 57323 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal Amount/Description** | **Principal Amount/Description** | **Rate** | **Maturity** | **Value** |
| $60000 | USA Compression Partners LP / USA Compression Finance Corp. | 6.88% | 04/01/2026 | $57654 |
| 30000 | USA Compression Partners LP / USA Compression Finance Corp. | 6.88% | 09/01/2027 | 28098 |
| 65000 | Vistra Operations Co. LLC<sup>(d)</sup> | 5.00% | 07/31/2027 | 60469 |
| 115000 | VM Consolidated, Inc.<sup>(d)</sup> | 5.50% | 04/15/2029 | 101437 |
| 175000 | WASH Multifamily Acquisition, Inc.<sup>(d)</sup> | 5.75% | 04/15/2026 | 165140 |
| 100000 | Weekley Homes LLC / Weekley Finance Corp.<sup>(d)</sup> | 4.88% | 09/15/2028 | 84204 |
| 180000 | Western Midstream Operating LP | 5.50% | 08/15/2048 | 149938 |
| 40000 | Williams Scotsman International, Inc.<sup>(d)</sup> | 4.63% | 08/15/2028 | 36164 |
| 95000 | WR Grace Holdings LLC<sup>(d)</sup> | 4.88% | 06/15/2027 | 84301 |
| 60000 | WR Grace Holdings LLC<sup>(d)</sup> | 5.63% | 08/15/2029 | 48586 |
| 35000 | Wynn Resorts Finance LLC / Wynn Resorts Capital Corp.<sup>(d)</sup> | 7.75% | 04/15/2025 | 34861 |
| 155000 | Xerox Holdings Corp.<sup>(d)</sup> | 5.00% | 08/15/2025 | 142932 |
| 55000 | Xerox Holdings Corp.<sup>(d)</sup> | 5.50% | 08/15/2028 | 44105 |
| 140000 | Zayo Group Holdings, Inc.<sup>(d)</sup> | 4.00% | 03/01/2027 | 103701 |
|  |  |  |  | 18327175 |
| TOTAL HIGH YIELD DEBT | TOTAL HIGH YIELD DEBT | TOTAL HIGH YIELD DEBT | TOTAL HIGH YIELD DEBT | TOTAL HIGH YIELD DEBT |
| (Cost $28,410,101) |  |  |  | 25335641 |

---

---

| | | |
|:---|:---|:---|
| **Shares/Description** | **Shares/Description** | **Value** |
| **RIGHTS - 0.00%<sup>(i)</sup>** | **RIGHTS - 0.00%<sup>(i)</sup>** |  |
| 198 | DBI Investors, Inc., Strike Price 0.01, Expires 12/31/2049<sup>(a)</sup> | $– |
| TOTAL RIGHTS | TOTAL RIGHTS |  |
| (Cost $11,231) | (Cost $11,231) | – |
| **WARRANTS - 0.00%<sup>(i)(i)</sup>** | **WARRANTS - 0.00%<sup>(i)(i)</sup>** |  |
| 4 | David's Bridal, Strike Price 219.47, Expires 01/18/2024<sup>(a)</sup> |  |
| 11 | Toys R Us Propco Warrant, Strike Price 0.01, Expires 12/31/2049<sup>(a)</sup> |  |
| 237 | Windstream Holdings Inc - Pvt Warrant, Strike Price 0.01, Expires 12/31/2049 | 1185 |
| TOTAL WARRANTS | TOTAL WARRANTS |  |
| (Cost $106,180) | (Cost $106,180) | 1185 |
| **SHORT-TERM INVESTMENTS - 6.88%** | **SHORT-TERM INVESTMENTS - 6.88%** |  |
| 3942922 | State Street Institutional Trust (7 Day Yield 3.77%) | $3942922 |
| TOTAL SHORT-TERM INVESTMENTS | TOTAL SHORT-TERM INVESTMENTS |  |
| (Cost $3,942,922) | (Cost $3,942,922) | 3942922 |
| **TOTAL INVESTMENTS - 95.35%** | **TOTAL INVESTMENTS - 95.35%** |  |
| **(Cost $58,930,527)** | **(Cost $58,930,527)** | $54616360 |
| **CASH SEGREGATED AT CUSTODIAN FOR FORWARD FOREIGN CURRENCY CONTRACTS - 0.09%** | **CASH SEGREGATED AT CUSTODIAN FOR FORWARD FOREIGN CURRENCY CONTRACTS - 0.09%** | 50000 |
| **OTHER ASSETS IN EXCESS OF LIABILITIES - 4.56%** | **OTHER ASSETS IN EXCESS OF LIABILITIES - 4.56%** | $2615871 |
| **NET ASSETS - 100.00%** | **NET ASSETS - 100.00%** | $57282231 |

---

**Investment Abbreviations:**

EURIBOR - Euro Interbank Offered Rate

LIBOR - London Interbank Offered Rate

LLC - Limited Liability Company

LP - Limited Partnership

PLC - Public Limited Company

**Libor Rates:**

1M US L - 1 Month LIBOR as of December 31, 2022 was 4.39%

3M US L - 3 Month LIBOR as of December 31, 2022 was 4.77%

6M US L - 6 Month LIBOR as of December 31, 2022 was 5.14%

3M EUR L - 3 Month EURIBOR as of December 31, 2022 was 2.16%

6M EUR L - 6 Month EURIBOR as of December 31, 2022 was 2.73%

5Y EUR SWAP - 5 Year Euro ICE Swap Rate as of December 31, 2022 was 3.23%

*<sup>(a)</sup>* *The Level 3 assets were a result of unavailable quoted prices from an active market or the unavailability of other significant observable inputs.*

*<sup>(b)</sup>* *Non-income producing security.*

*<sup>(c)</sup>* *Security has no contractual maturity date, is not redeemable and contractually pays an indefinite stream of interest.*

*<sup>(d)</sup>* *Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities have been deemed liquid under procedures approved by the Fund's Board of Trustees and may normally be sold to qualified institutional buyers in transactions exempt from registration. Total fair value of Rule 144A securities amounts to $18,751,891, which represents approximately 32.74% of net assets as of December 31, 2022.*

*<sup>(e)</sup>* *Variable rate investment. Interest rates reset periodically. Interest rate shown reflects the rate in effect at December 31, 2022. For securities based on a published reference rate and spread, the reference rate and spread are indicated in the description above. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above.*

*<sup>(f)</sup>* *Securities were purchased pursuant to Regulation S under the Securities Act of 1933, which exempts securities offered and sold outside of the United States from registration. Such securities cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 1933, or pursuant to an exemption from registration. These securities have been deemed liquid under procedures approved by the Fund's Board of Trustees (The "Board"). As of December 31, 2022, the aggregate fair value of those securities was $2,795,620, representing 4.88% of net assets.*

*<sup>(g)</sup>* *Pay-in-kind securities. Rate paid in-kind is shown in parenthesis.*

*<sup>(h)</sup>* *Issued with a zero coupon. Income is recognized through the accretion of discount.*

*<sup>(i)</sup>* *Less than 0.005%.*

*See Notes to Quarterly Schedule of Investments.*

 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **OUTSTANDING FORWARD FOREIGN CURRENCY CONTRACTS** | **OUTSTANDING FORWARD FOREIGN CURRENCY CONTRACTS** | **OUTSTANDING FORWARD FOREIGN CURRENCY CONTRACTS** | **OUTSTANDING FORWARD FOREIGN CURRENCY CONTRACTS** | **OUTSTANDING FORWARD FOREIGN CURRENCY CONTRACTS** | | |
| **Counterparty** | **Settlement<br> Date** | **Fund<br> Receiving** | **U.S. $ Value<br> at December 31, 2022** | **Fund<br> Delivering** |<br>**U.S. $ Value<br> at December 31, 2022** |<br>**Unrealized<br> Appreciation** |
| State Street Corporation | 1/6/2023 | EUR | 107060 | USD | 105391 | $1669 |
| State Street Corporation | 1/6/2023 | EUR | 12658 | USD | 12597 | 61 |
| State Street Corporation | 1/6/2023 | EUR | 171296 | USD | 170467 | 829 |
| State Street Corporation | 1/6/2023 | EUR | 53298 | USD | 52843 | 455 |
| State Street Corporation | 1/6/2023 | EUR | 28650 | USD | 28386 | 264 |
| State Street Corporation | 1/6/2023 | USD | 260540 | GBP | 256399 | 4141 |
| State Street Corporation | 1/6/2023 | USD | 435760 | GBP | 428833 | 6927 |
|  |  |  |  |  |  | $14346 |
| State Street Corporation | 1/6/2023 | GBP | 3617 | USD | 3640 | $(23) |
| State Street Corporation | 1/6/2023 | USD | 489502 | EUR | 494830 | (5328) |
| State Street Corporation | 1/6/2023 | USD | 5381702 | EUR | 5440276 | (58574) |
| State Street Corporation | 1/6/2023 | USD | 2107 | GBP | 2121 | (14) |
|  |  |  |  |  |  | $(63939) |

---

---

| | |
|:---|:---|
| **RiverNorth Funds** | **Notes to Quarterly Schedule of Investments** |
|  | **December 31, 2022 (Unaudited)** |

---

1. ORGANIZATION

The RiverNorth Funds (the "Trust" or "Funds") was established under the laws of Ohio by an Agreement and Declaration of Trust dated July 18, 2006 (the "Trust Agreement"). The Trust is an open-end management investment company registered under the Investment Company Act of 1940, as amended (the "1940 Act"). The Trust Agreement permits the Board of Trustees (the "Board" or "Trustees") to authorize and issue an unlimited number of shares of beneficial interest of a separate series without par value. All classes of shares for each of the Funds have identical rights to earnings, assets and voting privileges, except for class-specific expenses and exclusive rights to vote on matters affecting only individual classes. The Funds are considered investment companies and therefore follow the Investment Company accounting and reporting guidance of the Financial Accounting Standards Board ("FASB") Accounting Standards Codification Topic 946 Financial Services Investment Companies.

The RiverNorth Core Opportunity Fund (the "Core Opportunity Fund") was organized as a diversified series of the Trust on July 18, 2006 and commenced investment operations on December 27, 2006. The Core Opportunity Fund offers two series of shares, Class I Shares and Class R Shares. The investment adviser to the Core Opportunity Fund is RiverNorth Capital Management, LLC (the "Adviser"). The investment objective of the Core Opportunity Fund is to seek long-term capital appreciation and income.

The RiverNorth/DoubleLine Strategic Income Fund (the "Strategic Income Fund") is a diversified series of the Trust and commenced investment operations on December 30, 2010. The Strategic Income Fund offers two series of shares, Class I Shares and Class R Shares. The investment adviser to the Strategic Income Fund is RiverNorth Capital Management, LLC. The Strategic Income Fund's sub-adviser is DoubleLine Capital, LP ("DoubleLine"). The investment objective of the Strategic Income Fund is current income and overall total return.

The RiverNorth/Oaktree High Income Fund (the "High Income Fund") is a diversified series of the Trust and commenced investment operations on December 28, 2012. The High Income Fund offers two series of shares, Class I Shares and Class R Shares. The investment adviser to the High Income Fund is RiverNorth Capital Management, LLC. The High Income Fund's sub-adviser is Oaktree Capital Management, L.P. ("Oaktree Capital," and with DoubleLine, each a "Sub-Adviser" or collectively, the "Sub-Advisers"). The investment objective of the High Income Fund is overall total return consisting of long-term capital appreciation and income.

2. SIGNIFICANT ACCOUNTING POLICIES

The following is a summary of significant accounting policies followed by the Funds. These policies are in conformity with generally accepted accounting principles in the United States of America ("GAAP"). The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts and disclosures in the financial statements during the reporting period. Management believes the estimates and security valuations are appropriate; however, actual results may differ from those estimates, and the security valuations reflected in the financial statements may differ from the value the Funds ultimately realize upon sale of the securities. The Schedules of Investments have been prepared as of the close of the New York Stock Exchange ("NYSE") on December 31, 2022.

**Security Valuation:** The Funds' assets and other financial instruments are generally valued at their fair value using market quotations. If a market value quotation is unavailable a security may be valued at its estimated fair value as described in Note 3.

**Security Transactions and Related Income** **:** The Funds follow industry practice and record security transactions on the trade date basis. The specific identification method is used for determining gains or losses for financial statements and income tax purposes. Dividend income is recorded on the ex-dividend date or for certain foreign securities, when the information becomes available to the Funds and interest income and expenses are recorded on an accrual basis. Discounts and premiums on securities purchased are amortized or accreted using the effective interest method. Withholding taxes on foreign dividends have been provided for in accordance with the Funds' understanding of the applicable country's tax rules and rates. The ability of issuers of debt securities held by the Funds to meet their obligations may be affected by economic and political developments in a specific country or region. Settlement on bank loan transactions may be in excess of seven business days. Interest only stripped mortgage backed securities ("IO Strips") are securities that receive only interest payments from a pool of mortgage loans. Little to no principal will be received by the Funds upon maturity of an IO Strip. Periodic adjustments are recorded to reduce the cost of the security until maturity, which are included in interest income.

**Foreign Currency Translation:** The books and records of the Funds are maintained in U.S. dollars. Investment valuations and other assets and liabilities initially expressed in foreign currencies are converted each business day into U.S. dollars based upon current exchange rates. Prevailing foreign exchange rates may generally be obtained at the close of the NYSE (normally, 4:00 p.m. Eastern time). The portion of realized and unrealized gains or losses on investments due to fluctuations in foreign currency exchange rates is not separately disclosed and is included in realized and unrealized gains or losses on investments, when applicable.

**Foreign Securities:** The Funds may directly purchase securities of foreign issuers. Investing in securities of foreign issuers involves special risks not typically associated with investing in securities of U.S. issuers. The risks include possible revaluation of currencies, the ability to repatriate funds, less complete financial information about companies and possible future adverse political and economic developments. Moreover, securities of many foreign issuers and their markets may be less liquid and their prices more volatile than those of securities of comparable U.S. issuers.

Certain foreign countries impose a capital gains tax which is accrued by the Funds based on the unrealized appreciation, if any, on affected securities. Any accrual would reduce a Fund's net asset value ("NAV"). The tax is paid when the gain is realized and is included in capital gains tax in the Statements of Operations. During the period ended December 31, 2022, no foreign capital gains tax was accrued or paid by the Fund.

**Other:** The Funds hold certain investments which pay dividends to their shareholders based upon available funds from operations. It is possible for these dividends to exceed the underlying investments' taxable earnings and profits resulting in the excess portion of such dividends being designated as a return of capital. Distributions received from investments in securities that represent a return of capital or capital gains are recorded as a reduction of the cost of investments or as a realized gain, respectively.

**Principal Investment Risks:** All mutual funds carry a certain amount of risk. For more information on the related risks of investing in the Funds please refer to the prospectus of each Fund.

3. SECURITIES VALUATION AND FAIR VALUE Measurements

The Funds value their investments at fair value. Fair value is defined as the price that a Fund might reasonably expect to receive upon selling an investment in a timely transaction to an independent buyer in the principal or most advantageous market of the investment. GAAP establishes a three-tier hierarchy to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes.

Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk. For example, the risk inherent in a particular valuation technique used to measure fair value including using such a pricing model and/or the risk inherent in the inputs to the valuation technique. Inputs may be observable or unobservable. Observable inputs are inputs that reflect the assumptions market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the reporting entity. Unobservable inputs are inputs that reflect the reporting entity's own assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances.

Various inputs are used in determining the value of the Funds' investments. These inputs are summarized in the three broad levels listed below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Level
1 – Unadjusted quoted prices in active markets for identical, unrestricted assets or liabilities that a Fund has the ability to
access at the measurement date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Level
2 – Quoted prices which are not active, quoted prices for similar assets or liabilities in active markets or inputs other than
quoted prices that are observable (either directly or indirectly) for substantially the full term of the asset or liability;
and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Level
3 – Significant unobservable prices or inputs (including the Funds' own assumptions in determining the fair value of investments)
where there is little or no market activity for the asset or liability at the measurement date.

The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement falls in its entirety, is determined based on the lowest level input that is significant to the fair value measurement in its entirety.

Equity securities, including common stocks, rights and warrants, closed-end funds, exchange-traded funds, preferred stocks and business development companies are generally valued by using market quotations, but may be valued on the basis of prices furnished by a pricing service when the Adviser or a Sub-Adviser believes such prices more accurately reflect the fair market value of such securities. Securities that are traded on any stock exchange are generally valued by the pricing service at the last quoted sale price. Lacking a last sale price, an exchange traded security is generally valued by the pricing service at its last bid price. Securities traded in the NASDAQ over-the-counter market are generally valued by the pricing service at the NASDAQ Official Closing Price. When using the market quotations or close prices provided by the pricing service and when the market is considered active, the security will be classified as a Level 1 security. Sometimes, an equity security owned by the Funds will be valued by the pricing service with factors other than market quotations or when the market is considered inactive. When this happens, the security will be classified as a Level 2 security. When market quotations are not readily available, when the Adviser or a Sub-Adviser determines that the market quotation or the price provided by the pricing service does not accurately reflect the current fair value, or when restricted or illiquid securities are being valued, such securities are valued as determined in good faith by the Adviser, Sub-Adviser, or valuation committee in conformity with guidelines adopted by and subject to review by the Board. These securities will be categorized as Level 3 securities.

Investments in mutual funds, including short term investments and open-end funds, are generally priced at the ending net asset value (NAV) provided by the service agent of the funds. These securities will be categorized as Level 1 securities.

Domestic and foreign fixed income securities, including foreign and U.S. corporate bonds, convertible corporate bonds, U.S. Government bonds and notes, foreign government bonds and notes, supranationals and foreign agencies, non-agency collateralized mortgage obligations, U.S. Government/Agency mortgage backed securities, business development company notes, bank loans, collateralized loan obligations, municipal bonds, and high yield debt, as well as non-exchange traded derivatives, including forward foreign currency contracts, are normally valued on the basis of quotes obtained from brokers and dealers or independent pricing services. Foreign currency positions, including forward foreign currency contracts, are priced at the mean between the closing bid and asked prices at 4:00 p.m. Eastern time. Prices obtained from independent pricing services typically use information provided by market makers or estimates of market values obtained from yield data relating to investments or securities with similar characteristics. Data used to establish quotes includes analysis of cash flows, pre-payment speeds, default rates, delinquency assumptions and assumptions regarding collateral and loss assumptions. These securities will be classified as Level 2 securities.

Short-term investments in fixed income securities, with maturities of less than 60 days when acquired, or which subsequently are within 60 days of maturity, are valued by using the amortized cost method of valuation, which the Board has determined will represent fair value. These securities will be classified as Level 2 securities.

Effective September 8, 2022, and pursuant to the requirements of Rule 2a-5 under the 1940 Act, the Board approved updated valuation procedures for the Fund and designated the Adviser as the Fund's valuation designee to make all fair valuation determinations with respect to the Fund's portfolio investments, subject to the Board's oversight.

In accordance with the Funds' good faith pricing guidelines, the Adviser is required to consider all appropriate factors relevant to the value of securities for which it has determined other pricing sources are not available or reliable as described above. No single standard exists for determining fair value, because fair value depends upon the circumstances of each individual case. As a general principle, the current fair value of an issue of securities being valued by the Adviser would appear to be the amount which the owner might reasonably expect to receive for them upon their current sale. Methods which are in accordance with this principle may, for example, be based on (i) a multiple of earnings; (ii) discounted cash flow models; (iii) weighted average cost or weighted average price; (iv) a discount from market of a similar freely traded security (including a derivative security or a basket of securities traded on other markets, exchanges or among dealers); or (v) yield to maturity with respect to debt issues, or a combination of these and other methods. Good faith pricing is permitted if, in the Adviser's opinion, the validity of market quotations appears to be questionable based on factors such as evidence of a thin market in the security based on a small number of quotations, a significant event occurs after the close of a market but before a Funds' NAV calculation that may affect a security's value, or the Adviser is aware of any other data that calls into question the reliability of market quotations.

Good faith pricing may also be used in instances when the bonds the Funds invest in default or otherwise cease to have market quotations readily available. Investments in foreign securities, junk bonds or other thinly traded securities are more likely to trigger good faith pricing than other securities.

The following is a summary of the inputs used at December 31, 2022 in valuing the Funds' assets and liabilities:

**Core Opportunity Fund**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Valuation Inputs** | **Valuation Inputs** | **Valuation Inputs** | |
| <br>**Investments in Securities at Value\*** | **Level 1** | **Level 2** | **Level 3** | <br>**Total** |
| Closed-End Funds | $36817672 | $5242 | $– | $36822914 |
| Business Development Companies | 632087 |  |  | 632087 |
| Exchange Traded Funds | 1541331 |  |  | 1541331 |
| Preferred Stocks | 379808 |  |  | 379808 |
| Business Development Company Notes | 1674594 | 854978 |  | 2529572 |
| U.S. Corporate Bonds |  | 1166980 |  | 1166980 |
| Special Purpose Acquisition Companies | 1423 |  |  | 1423 |
| Warrants | 5907 |  |  | 5907 |
| Short-Term Investments | 2392323 | – | – | 2392323 |
| Total | $43445145 | $2027200 | $– | $45472345 |

---

**Strategic Income Fund**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Valuation Inputs** | **Valuation Inputs** | **Valuation Inputs** | |
| <br>**Investments in Securities at Value\*** | **Level 1** | **Level 2** | **Level 3** | <br>**Total** |
| Closed-End Funds | $204046923 | $– | $– | $204046923 |
| Business Development Companies |  | 1243472 |  | 1243472 |
| Business Development Companies - Preferred Shares | 6857812 | 5033775 |  | 11891587 |
| Open-End Funds | 30743419 |  |  | 30743419 |
| Preferred Stocks | 789859 | 6724 |  | 796583 |
| Foreign Corporate Bonds |  | 53454288 |  | 53454288 |
| U.S. Corporate Bonds |  | 88706931 |  | 88706931 |
| Convertible Corporate Bonds |  | 9518 |  | 9518 |
| Foreign Government Bonds and Notes, Supranationals and Foreign Agencies |  | 9039630 |  | 9039630 |
| Bank Loans |  | 24820804 |  | 24820804 |
| Collateralized Loan Obligations |  | 56290329 |  | 56290329 |
| Equity - Linked Notes |  |  |  |  |
| Non-Agency Collateralized Mortgage Obligations |  | 244847624 |  | 244847624 |
| Special Purpose Acquisition Companies | 17405022 | 417987 |  | 17823009 |
| U.S. Government Bonds and Notes |  | 116419952 |  | 116419952 |
| Municipal Bonds |  | 206937 |  | 206937 |
| U.S. Government / Agency Mortgage Backed Securities |  | 252194198 |  | 252194198 |
| Warrants<sup>(a)</sup> |  |  |  |  |
| Short-Term Investments | 49731392 | 251679 | – | 49983071 |
| Total | $309574427 | $852943848 | $– | $1162518275 |

---

**Strategic Income Fund (continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Valuation Inputs** | **Valuation Inputs** | **Valuation Inputs** | |
| <br>**Other Financial Instruments\*\*** | **Level 1** | **Level 2** | **Level 3** | <br>**Total** |
| **Assets** |  |  |  |  |
| Future Contract | $(370543) | $– | $– | $(370543) |

---

**High Income Fund**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Valuation Inputs** | **Valuation Inputs** | **Valuation Inputs** | |
| <br>**Investments in Securities at Value\*** | **Level 1** | **Level 2** | **Level 3** | <br>**Total** |
| Business Development Companies | $919583 | $– | $– | $919583 |
| Closed-End Funds | 8717800 |  |  | 8717800 |
| Common Stocks |  | 33 | 78305 | 78338 |
| Preferred Stocks |  |  |  |  |
| Bank Loans |  | 11808763 |  | 11808763 |
| Exchange Traded Funds | 3812128 |  |  | 3812128 |
| High Yield Debt |  | 25335641 |  | 25335641 |
| Rights |  |  |  |  |
| Warrants |  | 1185 |  | 1185 |
| Short-Term Investments | 3942922 | – | – | 3942922 |
| Total | $17392433 | $37145622 | $78305 | $54616360 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Valuation Inputs** | **Valuation Inputs** | **Valuation Inputs** | |
| <br>**Other Financial Instruments\*\*** | **Level 1** | **Level 2** | **Level 3** | <br>**Total** |
| **Assets** |  |  |  |  |
| Forward Foreign Currency Contracts | $– | $14346 | $– | $14346 |
| **Liabilities** |  |  |  |  |
| Forward Foreign Currency Contracts | $– | $(63939) | $– | $(63939) |
| Total | $– | $(49593) | $– | $(49593) |

---

*\** *Refer to each Fund's Schedule of Investments for a listing of securities by type.*

*\*\** *Other financial instruments are derivative instruments reflected in the Schedule of Investments.*

The changes of the fair value of investments for which the Funds have used Level 3 inputs to determine the fair value are as follows:

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Asset Type** | **Balance as of September 30, 2022** | **Accrued Discount/premium** | **Return of Capital** | **Realized Gain/(Loss)** | **Change in Unrealized Appreciation/ Depreciation** | **Purchases** | **Sales Proceeds** | **Transfer into Level 3** | **Transfer Out of Level 3** | **Balance as of December 31, 2022** | **Net change in unrealized<br> appreciation/(depreciation) included in the Statements of Operations attributable to Level 3 investments held at December 31, 2022** |
| Common Stocks | $76639 | $- | $- | $- | $1666 | $- | $- | $- | $- | $78305 | $1685 |
| Preferred Stocks | 135003 | - | - | - | (140003) | 5000 | - | - | - | - | - |
|  | $211642 | $- | $- | $- | $(138337) | $5000 | $- | $- | $- | $78305 | $1685 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(a)* *Transferred from Level 3 to Level 2 because of available, observable market data.* 

The Table below provides additional information about the Level 3 Fair Value Measurements as of June 30. 2022:

**Quantitative Information about Level 3 Fair Value Measurements** 

**High Income Fund**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Asset Class** | **Fair Value (USD)** | **Valuation Technique** | **Unobservable Inputs<sup>(a)</sup>** | **Value/Range**<br> **(Weighted Average)** |
| Common Stocks | $78305 | Market Comparable Companies | EBITDA Multiple | 6.0x-7.0x<br> 6.5x |

---

<sup>(a)</sup> A change to the unobservable input may result in a significant change to the value of the investment as follows:

---

| | | |
|:---|:---|:---|
| **Unobservable Input** | **Impact to Value if <br> Input Increases** | **Impact to Value if <br> Input Decreases** |
| EBITDA Multiple | Increase | Decrease |

---

4. Derivative Financial Instruments

The following discloses the Funds' use of derivative instruments. The Funds' investment objectives not only permit the Funds to purchase investment securities, they also allow the Funds to enter into various types of derivative contracts such as total return swap contracts and forward foreign currency contracts. In doing so, the Funds will employ strategies in differing combinations to permit them to increase, decrease, or change the level or types of exposure to market factors. Central to those strategies are features inherent to derivatives that make them more attractive for this purpose than equity or debt securities; they require little or no initial cash investment, they can focus exposure on only certain selected risk factors, and they may not require the ultimate receipt or delivery of the underlying security (or securities) to the contract. This may allow the Funds to pursue their objectives more quickly and efficiently than if they were to make direct purchases or sales of securities capable of affecting a similar response to market factors.

**Market Risk Factors**: In pursuit of their investment objectives, the Funds may seek to use derivatives to increase or decrease their exposure to the following market risk factors:

*Foreign Exchange Rate Risk*: Foreign exchange rate risk relates to the change in the U.S. dollar value of a security held that is denominated in a foreign currency. The value of a foreign currency denominated security will decrease as the dollar appreciates against the currency, while the value of the foreign currency denominated security will increase as the dollar depreciates against the currency.

**Risk of Investing in Derivatives** 

The Funds' use of derivatives can result in losses due to unanticipated changes in the market risk factors and the overall market. Derivatives may have little or no initial cash investment relative to their market value exposure and therefore can produce significant gains or losses in excess of their cost. This use of embedded leverage allows the Funds to increase their market value exposure relative to their net assets and can substantially increase the volatility of the Funds' performance.

Additional associated risks from investing in derivatives also exist and potentially could have significant effects on the valuation of the derivative and the Funds. Typically, the associated risks are not the risks that the Funds are attempting to increase or decrease exposure to, per their investment objectives, but are the additional risks from investing in derivatives.

Examples of these associated risks are liquidity risk, which is the risk that the Funds will not be able to sell the derivative in the open market in a timely manner, and counterparty credit risk, which is the risk that the counterparty will not fulfill its obligation to the Funds.

**Forward Foreign Currency Contracts** 

The Funds may engage in currency transactions with counterparties to hedge the value of portfolio securities denominated in particular currencies against fluctuations in relative value, to gain or reduce exposure to certain currencies, or to generate income or gains. A forward foreign currency contract is an agreement between two parties to buy and sell a currency at a set price on a future date. During the three months ended December 31, 2022, the High Income Fund engaged in forward foreign currency contracts. The contracts are marked-to-market daily and the change in value is recorded by the High Income Fund as an unrealized gain or loss. When a forward foreign currency contract is extinguished, through either delivery or offset by entering into another forward foreign currency contract, the High Income Fund records a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value of the contract at the time it was extinguished.

Forward foreign currency contracts involve elements of market risk. The High Income Fund bears the risk of an unfavorable change in the foreign exchange rate underlying the forward foreign currency contract. Risks may also arise upon entering into these contracts from the potential inability of the counterparties to meet the terms of their contracts.

5. loan participations and assignments

The Strategic Income Fund and High Income Fund may each invest in direct debt instruments which are interests in amounts owed to lenders or lending syndicates by corporate, governmental, or other borrowers. The Strategic Income Fund and High Income Fund will normally invest in corporate debt issuers in North America and Europe. The Strategic Income Fund's and High Income Fund's investments in loans may be in the form of participations in loans or assignments of all or a portion of loans from third parties. A loan is often administered by a bank or other financial institution (the "lender") that acts as agent for all holders. The agent administers the terms of the loan, as specified in the loan agreement. The Strategic Income Fund and High Income Fund may each invest in multiple series or tranches of a loan, which may have varying terms and carry different associated risks. The Strategic Income Fund and High Income Fund will generally purchase assignments of these loans, in which case they will typically become lenders for purposes of the relevant loan agreement with direct contractual rights against the borrower, including the right to receive payments of principal and interest. When purchasing participation interests in a loan, the Strategic Income Fund and High Income Fund generally have no right to enforce compliance with the terms of the loan agreement with the borrower. As a result, the Strategic Income Fund and High Income Fund may each be subject to the credit risk of both the borrower and the lender that is selling the loan agreement. The Strategic Income Fund and High Income Fund may each enter into unfunded loan commitments, which are contractual obligations for future funding. Unfunded loan commitments represent a future obligation in full, even though a percentage of the notional loan amounts may not be utilized by the borrower. When investing in a loan participation, the Strategic Income Fund and High Income Fund have the right to receive payments of principal, interest and any fees to which they are entitled only from the lender selling the loan agreement and only upon receipt of payments by the lender from the borrower. The Strategic Income Fund and High Income Fund may each receive a commitment fee based on the undrawn portion of the underlying line of credit portion of a floating rate loan. In certain circumstances, the Strategic Income Fund and High Income Fund may each receive a penalty fee upon the prepayment of a floating rate loan by a borrower. Fees earned are recorded as a component of interest income or interest expense, respectively, on the Statements of Operations. At December 31, 2022, High Income Fund had $665,766 in unsettled domestic and foreign loan commitments.

6. AFFILIATED COMPANIES

Funds may invest in certain securities that are considered securities issued by affiliated companies. As defined by the Investment Company Act of 1940, an affiliated person, including an affiliated company, is one in which a Fund owns 5% or more of the outstanding voting securities, or a company which is under common ownership or control with the Fund. The purchases, sales, dividend income, capital gains, shares and value of investment in affiliated companies for the three months ended December 31, 2022 were as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Name** | **Market Value as of October 1, 2022** | **Purchases** | **Change in Unrealized Gain (Loss)** | **Realized Gain/Loss** | **Market Value as of December 31, 2022\*** | **Share Balance as of December 31, 2022** | **Dividends** |
| RiverNorth/Oaktree High Income Fund | $29458779 | $1063697 | $220943 | $- | $30743419 | 3695034 | $1063697 |
|  |  |  | $220943 | $- | $30743419 | 3695034 | $1063697 |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

- **b. Investment Company Act file number:** 811-21934

- **c. CIK number of Registrant:** 0001370177

- **d. LEI of Registrant:** 549300XNW3NYGFVOG451

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

  - **Street Address 1:** 325 N LASALLE ST. SUITE 645

  - **City:** CHICAGO

  - **State:** IL

  - **Foreign country:** US

  - **Zip / Postal Code:** 60654

  - **Telephone number:** 3128321440

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

- **a. Name of Series:** RiverNorth Core Opportunity Fund

- **b. EDGAR series identifier (if any):** S000013779

- **c. LEI of Series:** 549300UOYWB01D4RKF71

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

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

- **b. Date as of which information is reported:** 2022-12-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $46269950.28

**Total Liabilities:** $756924.44

**Net Assets:** $45513025.84

**Cash Not Reported:** $7768.16

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000145024 | 4.28%                | 6.00%                | -3.33%               |
| Class ID C000037794 | 4.25%                | 5.97%                | -3.35%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-191808.75              | $1937367.05                                |
| Month 2  | $-132783.50              | $2611477.38                                |
| Month 3  | $-165124.40              | $-1970988.71                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Owl Rock Core Income Cor                                   | OWL Rock Core Income Corp.                                 | CUSIP: 69120VAF8<br>LEI: 5493003I42XBWPE05N35 | Long             | DBT              | CORP              | US        |    249936 | PA      | $225710.41    | 0.50%             | 2027-02-08      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Blackrock Esg Capital Allocation Trust                     | Blackrock ESG Capital Allocation Trust                     | CUSIP: 09262F100<br>LEI: 549300EWOI5G0PSVIX17 | Long             | EC               | RF                | US        |    224353 | NS      | $3013060.79   | 6.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Qqq Trust Series 1                                 | PowerShares QQQ Trust                                      | CUSIP: 46090E103<br>LEI: 549300VY6FEJBCIMET58 | Long             | EC               | RF                | US        |      3277 | NS      | $872599.56    | 1.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Owl Rock Capital Corp                                      | Owl Rock Capital Corp.                                     | CUSIP: 69121KAE4<br>LEI: 2549000BD79OOCPF2L94 | Long             | DBT              | CORP              | US        |    495561 | PA      | $433284.76    | 0.95%             | 2026-07-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| First Eagle Alternative                                    | First Eagle Alternative Capital BDC, Inc.                  | CUSIP: 26943B407<br>LEI: ZPFGW6VV73M9CW4FN909 | Long             | EP               | CORP              | US        |     72619 | NS      | $1674594.14   | 3.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Nuveen Short Duration Credit Opportunities Fund            | Nuveen Short Duration Credit Opportunities Fund            | CUSIP: 67074X107<br>LEI: N0WOEFO1WOMLJYH1PV29 | Long             | EC               | RF                | US        |     11778 | NS      | $139687.08    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Western Asset Inflation-linked Opportunities & Income Fund | Western Asset Inflation-Linked Opportunities & Income Fund | CUSIP: 95766R104<br>LEI: 549300Z3DNF4FJBJ4A87 | Long             | EC               | RF                | US        |    160493 | NS      | $1465301.09   | 3.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Abrdn Emerging Markets Equity                              | Aberdeen Emerging Markets Equity Income Fund, Inc.         | CUSIP: 00301W105<br>LEI: 549300MSYUW07RYUZD27 | Long             | EC               | RF                | US        |    157974 | NS      | $813566.10    | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Nuveen Variable Rate Preferred & Income Fund               | Nuveen Variable Rate Preferred & Income Fund               | CUSIP: 67080R102<br>LEI: 549300B5AMVHD58MNL94 | Long             | EC               | RF                | US        |     68052 | NS      | $1194993.12   | 2.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Landcadia Holdings Iv Inc                                  | Landcadia Holdings IV, Inc.                                | CUSIP: 51477A112<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      5303 | NC      | $530.30       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Nuveen Credit Strategies Income Fund                       | Nuveen Credit Strategies Income Fund                       | CUSIP: 67073D102<br>LEI: W4CSTD4RDGQSJ4FOVO30 | Long             | EC               | RF                | US        |    179746 | NS      | $914907.14    | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Virtus Total Return Fund Inc                               | Virtus Total Return Fund, Inc.                             | CUSIP: 92835W107<br>LEI: 549300KKRHI4GF7RNQ81 | Long             | EC               | RF                | US        |    273355 | NS      | $1790475.25   | 3.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Pimco Access Income Fund                                   | PIMCO Access Income Fund                                   | CUSIP: 72203T100<br>LEI: 549300Q20CGGOWTPP823 | Long             | EC               | RF                | US        |     62323 | NS      | $921757.17    | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Nuveen Corporate Income 2023 Target Term Fund              | Nuveen Corporate Income 2023 Target Term Fund              | CUSIP: 67079F101<br>LEI: 5493007QLZSDHONQ7F84 | Long             | EC               | RF                | US        |    103165 | NS      | $935964.46    | 2.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Pimco Dynamic Income Opportunities Fund                    | PIMCO Dynamic Income Opportunities Fund                    | CUSIP: 69355M107<br>LEI: 549300MWJBXCL907ZB49 | Long             | EC               | RF                | US        |    158214 | NS      | $2020392.78   | 4.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Jaws Mustang Acquisition Corp                              | Jaws Mustang Acquisition Corp.                             | CUSIP: G50737124<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     10113 | NC      | $657.35       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| First Trust Energy Infrastructure Fund                     | First Trust Energy Infrastructure Fund                     | CUSIP: 33738C103<br>LEI: 549300U01UTSY4XHYP86 | Long             | EC               | RF                | US        |    108521 | NS      | $1564872.82   | 3.44%             |  |  |  | No            |                  1 | On Loan: No      |
| First Trust High Yield Opportunities 2027 Term Fund        | First Trust High Yield Opportunities 2027 Term Fund        | CUSIP: 33741Q107<br>LEI: 549300VWTG40J7RZE994 | Long             | EC               | RF                | US        |    127622 | NS      | $1720344.56   | 3.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Virtus Convertible & Income 20                             | AllianzGI Convertible & Income 2024 Target Term Fund       | CUSIP: 92838R105<br>LEI: 549300VMAL6DHTC4Z474 | Long             | EC               | RF                | US        |    144532 | NS      | $1248756.48   | 2.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Churchill Capital Corp Vii                                 | Churchill Capital Corp. VII                                | CUSIP: 17144M110<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      8168 | NC      | $403.50       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Brandywineglobal Global Income Opportunities Fund Inc      | BrandywineGLOBAL - Global Income Opportunities Fund, Inc.  | CUSIP: 10537L104<br>LEI: 549300P4CDQCJBGI0833 | Long             | EC               | RF                | US        |    213676 | NS      | $1741459.40   | 3.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Pgim Global High Yield Fund Inc                            | PGIM Global High Yield Fund, Inc.                          | CUSIP: 69346J106<br>LEI: F0ATD1Y4J8CHDKHSLD09 | Long             | EC               | RF                | US        |     29575 | NS      | $320593.00    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Barings Global Short Duration High Yield Fund              | Barings Global Short Duration High Yield Fund              | CUSIP: 06760L100<br>LEI: 549300WWIZCL845OP089 | Long             | EC               | RF                | US        |     22841 | NS      | $289623.88    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| First Trust New Opportunities Mlp & Energy Fund            | First Trust New Opportunities MLP & Energy Fund            | CUSIP: 33739M100<br>LEI: 549300XZPV60ZCNK9321 | Long             | EC               | RF                | US        |    317804 | NS      | $1922714.20   | 4.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Pershing Square Holdings Ltd                               | Pershing Square Holdings Ltd.                              | CUSIP: G7016V101<br>LEI: U7LC4KOKCTZ0YWGI2G56 | Long             | EC               | CORP              | GG        |    124365 | NS      | $4303029.00   | 9.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Special Opportunities Fund Inc                             | Special Opportunities Fund, Inc.                           | CUSIP: 84741T104<br>LEI: 549300DGAJTGM6R4HK03 | Long             | EC               | RF                | US        |     85475 | NS      | $974415.00    | 2.14%             |  |  |  | No            |                  1 | On Loan: No      |
| New Mountain Finance Cor                                   | New Mountain Finance Corp.                                 | CUSIP: 647551AC4<br>LEI: 549300L1MPTT1H7SES77 | Long             | DBT              | CORP              | US        |      1978 | PA      | $1971.82      | 0.00%             | 2023-08-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Pennantpark Floating Rat                                   | PennantPark Floating Rate Capital, Ltd.                    | CUSIP: 70806AAA4<br>LEI: 529900BH3IP6381K4L72 | Long             | DBT              | RF                | US        |    977764 | PA      | $853005.95    | 1.87%             | 2026-04-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Churchill Capital Corp Vi                                  | Churchill Capital Corp. VI                                 | CUSIP: 17143W119<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      8081 | NC      | $484.86       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Fs Kkr Capital Corp                                        | FS KKR Capital Corp.                                       | CUSIP: 302635206<br>LEI: 549300TYRSI1T21B1360 | Long             | EC               | RF                | US        |     26535 | NS      | $464362.50    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Nuveen Preferred & Income Term Fund                        | Nuveen Preferred & Income Term Fund                        | CUSIP: 67075A106<br>LEI: ET6DW8XHL36KSUO5W433 | Long             | EC               | RF                | US        |     26726 | NS      | $496569.08    | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| First Trust Dynamic Europe Equity Income Fund              | First Trust Dynamic Europe Equity Income Fund              | CUSIP: 33740D107<br>LEI: 549300YG1NBZKURU8L08 | Long             | EC               | RF                | US        |     21886 | NS      | $246874.08    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Eaton Vance Ltd Duration Income Fund                       | Eaton Vance, Ltd. Duration Income Fund                     | CUSIP: 27828H105<br>LEI: NZ7KR43H6Z5W1GY0QX46 | Long             | EC               | RF                | US        |     50675 | NS      | $475838.25    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Calamos Long/short Equity & Dynamic Income Trust           | Calamos Long/Short Equity & Dynamic Income Trust           | CUSIP: 12812C106<br>LEI: 54930028TUOZZMUQBY94 | Long             | EC               | RF                | US        |     57348 | NS      | $871116.12    | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackrock Debt Strategies Fund Inc                         | BlackRock Debt Strategies Fund, Inc.                       | CUSIP: 09255R202<br>LEI: Y02PFSGMGNYKWM70AJ95 | Long             | EC               | RF                | US        |    100359 | NS      | $923302.80    | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackstone Senior Floating Rate Term Fund                  | Blackstone/GSO Senior Floating Rate Term Fund              | CUSIP: 09256U105<br>LEI: 549300PXYPBYRHU59R03 | Long             | EC               | RF                | US        |     73949 | NS      | $919186.07    | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street Institutional Treasury Money Market Fund      | State Street Institutional Trust                           | CUSIP: 857492888<br>LEI: 549300Q3FHSMZ70NLT76 | Long             | STIV             | RF                | US        |   2473571 | NS      | $2473571.34   | 5.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Agba Group Holding Ltd                                     | AGBA Group Holding, Ltd.                                   | CUSIP: G01212110<br>LEI: 5493006NA1XBERP7JE98 | N/A              | DE               | CORP              | US        |     13110 | NC      | $555.88       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Ares Acquisition Corp                                      | Ares Acquisition Corp.                                     | CUSIP: G33032122<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |      7024 | NC      | $3275.29      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackstone Private Cre                                     | Blackstone Private Credit Fund                             | CUSIP: 09261HAK3<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |    164009 | PA      | $138307.72    | 0.30%             | 2027-03-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Xai Octagon Flt Rt Alt                                     | XAI Octagon Floating Rate Alternative Income Term Trust    | CUSIP: 98400T205<br>LEI: 549300XT617P63BLW552 | Long             | EP               | RF                | US        |     15162 | NS      | $379808.10    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Pgim Short Duration High Yield Opportunities Fund          | PGIM Short Duration High Yield Opportunities Fund          | CUSIP: 69355J104<br>LEI: 549300WGY7DHGMQJU952 | Long             | EC               | RF                | US        |     21475 | NS      | $315467.75    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Agba Group Holding Ltd                                     | AGBA Group Holding, Ltd.                                   | CUSIP: G01212102<br>LEI: 5493006NA1XBERP7JE98 | Long             | EC               | CORP              | VG        |       924 | NS      | $1422.96      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Hercules Capital Inc                                       | Hercules Capital, Inc.                                     | CUSIP: 427096AH5<br>LEI: 549300UJ5OC256GR2B73 | Long             | DBT              | CORP              | US        |    437712 | PA      | $369677.36    | 0.81%             | 2026-09-16      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| Golub Capital Bdc Inc                                      | Golub Capital BDC, Inc.                                    | CUSIP: 38173M102<br>LEI: 2549005WE0QLGK9APF78 | Long             | EC               | RF                | US        |     12745 | NS      | $167724.20    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Ftse Rafi Emerging Markets Etf                     | Invesco FTSE RAFI Emerging Markets ETF                     | CUSIP: 46138E727<br>LEI: 5493003H1JIGI1UCJV78 | Long             | EC               | RF                | US        |     37953 | NS      | $668731.86    | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackrock Health Sciences Trust Ii                         | Blackrock Health Sciences Trust II                         | CUSIP: 09260E105<br>LEI: 549300FGMK4EGHSK8N86 | Long             | EC               | RF                | US        |     30164 | NS      | $465430.52    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackrock 2022 Global Income Opportunity Trust             | BlackRock 2022 Global Income Opportunity Trust             | CUSIP: 09258P104<br>LEI: 54930043TZJFTGM7CS54 | Long             | EC               | RF                | US        |    124211 | NS      | $5241.70      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Nuveen Core Plus Impact Fund                               | Nuveen Core Plus Impact Fund                               | CUSIP: 67080D103<br>LEI: N/A                  | Long             | EC               | RF                | US        |     76828 | NS      | $795938.08    | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackrock Capital Allocation Trust                         | Blackrock Capital Allocation Trust                         | CUSIP: 09260U109<br>LEI: 5493007LDARS47M53X11 | Long             | EC               | RF                | US        |    289260 | NS      | $4012036.20   | 8.82%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-30

**Name of Applicant:** RIVERNORTH FUNDS

**Signature:** Jonathan M. Mohrhardt

**Name of Signer:** Jonathan M. Mohrhardt

**Title:** Treasurer & Chief Financial Officer