# EDGAR Filing Document

**Accession Number:** 0000912577
**File Stem:** 0000912577-26-000037
**Filing Date:** 2026-5
**Character Count:** 236504
**Document Hash:** 299f577582218f204b975a5e943324ff
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000912577-26-000037.hdr.sgml**: 20260522

**ACCESSION NUMBER**: 0000912577-26-000037

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260522

**DATE AS OF CHANGE**: 20260522

**PERIOD START**: 20261231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FEDERATED HERMES INSURANCE SERIES
- **CENTRAL INDEX KEY:** 0000912577

**ORGANIZATION NAME:**
- **EIN:** 256425525
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08042
- **FILM NUMBER:** 261011150

**BUSINESS ADDRESS:**
- **STREET 1:** 4000 ERICSSON DRIVE
- **CITY:** WARRENDALE
- **STATE:** PA
- **ZIP:** 15086-7561
- **BUSINESS PHONE:** 8003417400

**MAIL ADDRESS:**
- **STREET 1:** 4000 ERICSSON DRIVE
- **CITY:** WARRENDALE
- **STATE:** PA
- **ZIP:** 15086-7561

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FEDERATED INSURANCE SERIES
- **DATE OF NAME CHANGE:** 19960328

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** INSURANCE MANAGEMENT SERIES
- **DATE OF NAME CHANGE:** 19930924

## Series and Classes Contracts Data

### Federated Hermes High Income Bond Fund II (Series ID: S000009749)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000026776 | Primary Shares |  |
| C000026777 | Service Shares |  |

## Nport-Ex

Federated Hermes High Income Bond Fund II

Portfolio of Investments

March 31, 2026 (unaudited)

---

| | | |
|:---|:---|:---|
| **Principal** <br>**Amount** <br>**or Shares**<br>|  | **Value** |
|  | CORPORATE BONDS—96.0% |  |
|  | **Aerospace/Defense—2.1%** |  |
| $250000 | Goat Holdco, LLC, 144A, 6.750%, 2/1/2032 | &nbsp;&nbsp; $251748 |
| &nbsp;&nbsp; 50000 | TransDigm, Inc., 144A, 6.250%, 1/31/2034 | &nbsp;&nbsp; 50593 |
| &nbsp;&nbsp; 375000 | TransDigm, Inc., 1st Priority Sr. Secd. Note, 144A, 6.625%, 3/1/2032 | &nbsp;&nbsp; 382920 |
| &nbsp;&nbsp; 425000 | TransDigm, Inc., Sr. Secd. Note, 144A, 6.875%, 12/15/2030 | &nbsp;&nbsp; 435749 |
| &nbsp;&nbsp; 200000 | TransDigm, Inc., Sr. Sub. Note, 144A, 6.375%, 5/31/2033 | &nbsp;&nbsp; 199092 |
| &nbsp;&nbsp; 125000 | TransDigm, Inc., Sr. Sub. Note, 144A, 6.750%, 1/31/2034 | &nbsp;&nbsp; 126732 |
| &nbsp;&nbsp; 100000 | TransDigm, Inc., Sr. Sub., 144A, 6.125%, 7/31/2034 | &nbsp;&nbsp; 98479 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 1545313 |
|  | **Airlines—0.1%** |  |
| &nbsp;&nbsp; 75000 | United Airlines Holdings, Inc., Sr. Unsecd. Note, 5.375%, 3/1/2031 | &nbsp;&nbsp; 73543 |
|  | **Automotive—3.0%** |  |
| &nbsp;&nbsp; 150000 | Adient Global Holdings Ltd., Sr. Unsecd. Note, 144A, 7.500%, 2/15/2033 | &nbsp;&nbsp; 151770 |
| &nbsp;&nbsp; 100000 | Adient Global Holdings Ltd., Sr. Unsecd. Note, 144A, 8.250%, 4/15/2031 | &nbsp;&nbsp; 103791 |
| &nbsp;&nbsp; 50000 | Clarios Global LP, Sr. Secd. Note, 144A, 6.750%, 2/15/2030 | &nbsp;&nbsp; 51160 |
| &nbsp;&nbsp; 475000 | Clarios Global LP, Sr. Unsecd. Note, 144A, 6.750%, 9/15/2032 | &nbsp;&nbsp; 479099 |
| &nbsp;&nbsp; 75000 | Cyprium Corp. / Cyprium Holdings, Sr. Unsecd. Note, 144A, 6.125%, 4/15/2031 | &nbsp;&nbsp; 74124 |
| &nbsp;&nbsp; 150000 | Cyprium Corp. / Cyprium Holdings, Sr. Unsecd. Note, 144A, 6.375%, 4/15/2034 | &nbsp;&nbsp; 145971 |
| &nbsp;&nbsp; 275000 | Dornoch Debt Merger Sub., Inc., Sr. Unsecd. Note, 144A, 6.625%, 10/15/2029 | &nbsp;&nbsp; 245775 |
| &nbsp;&nbsp; 350000 | Forvia SE, Sr. Unsecd. Note, 144A, 6.750%, 9/15/2033 | &nbsp;&nbsp; 341934 |
| &nbsp;&nbsp; 375000 | IHO Verwaltungs GmbH, 144A, 8.000%, 11/15/2032 | &nbsp;&nbsp; 384469 |
| &nbsp;&nbsp; 275000 | JB Poindexter & Co., Inc., Sr. Unsecd. Note, 144A, 8.750%, 12/15/2031 | &nbsp;&nbsp; 279076 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 2257169 |
|  | **Building Materials—4.0%** |  |
| &nbsp;&nbsp; 175000 | American Builders & Contractors Supply Co., Inc., 144A, 4.000%, 1/15/2028 | &nbsp;&nbsp; 171837 |
| &nbsp;&nbsp; 25000 | American Builders & Contractors Supply Co., Inc., Sr. Unsecd. Note, 144A, 3.875%, 11/15/2029 | &nbsp;&nbsp; 23718 |
| &nbsp;&nbsp; 250000 | CP Atlas Buyer, Inc., 144A, 9.750%, 7/15/2030 | &nbsp;&nbsp; 234690 |
| &nbsp;&nbsp; 50000 | Installed Building Products, Inc., Sr. Unsecd. Note, 144A, 5.625%, 2/1/2034 | &nbsp;&nbsp; 48915 |
| &nbsp;&nbsp; 250000 | Masterbrand, Inc., 144A, 7.000%, 7/15/2032 | &nbsp;&nbsp; 244466 |
| &nbsp;&nbsp; 300000 | Miter Brands Acquisition Holdco, Inc./MIWD Borrower LLC, Sr. Secd. Note, 144A, 6.750%, 4/1/2032 | &nbsp;&nbsp; 287513 |
| &nbsp;&nbsp; 25000 | MIWD Holdco II LLC/MIWD Finance Corp., Sr. Unsecd. Note, 144A, 5.500%, 2/1/2030 | &nbsp;&nbsp; 21620 |
| &nbsp;&nbsp; 300000 | Patrick Industries, Inc., Co. Guarantee, 144A, 6.375%, 11/1/2032 | &nbsp;&nbsp; 300393 |
| &nbsp;&nbsp; 275000 | Queen MergerCo, Inc., Sr. Secd. Note, 144A, 6.750%, 4/30/2032 | &nbsp;&nbsp; 280738 |
| &nbsp;&nbsp; 200000 | Quikrete Holdings, Inc., Sr. Secd. Note, 144A, 6.375%, 3/1/2032 | &nbsp;&nbsp; 202951 |
| &nbsp;&nbsp; 100000 | Quikrete Holdings, Inc., Sr. Unsecd. Note, 144A, 6.750%, 3/1/2033 | &nbsp;&nbsp; 101642 |
| &nbsp;&nbsp; 175000 | Standard Industries, Inc., Sr. Unsecd. Note, 144A, 3.375%, 1/15/2031 | &nbsp;&nbsp; 156976 |
| &nbsp;&nbsp; 250000 | Standard Industries, Inc., Sr. Unsecd. Note, 144A, 6.250%, 8/1/2033 | &nbsp;&nbsp; 247429 |
| &nbsp;&nbsp; 175000 | Standard Industries, Inc., Sr. Unsecd. Note, 144A, 6.500%, 8/15/2032 | &nbsp;&nbsp; 175245 |
| &nbsp;&nbsp; 275000 | TopBuild Corp., Sr. Unsecd. Note, 144A, 5.625%, 1/31/2034 | &nbsp;&nbsp; 269450 |
| &nbsp;&nbsp; 225000 | White Cap Supply Holdings LLC, Sr. Unsecd. Note, 144A, 7.375%, 11/15/2030 | &nbsp;&nbsp; 218418 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 2986001 |
|  | **Cable Satellite—4.7%** |  |
| &nbsp;&nbsp; 125000 | CCO Holdings LLC/Cap Corp., Sr. Unsecd. Note, 144A, 4.250%, 2/1/2031 | &nbsp;&nbsp; 114011 |
| &nbsp;&nbsp; 100000 | CCO Holdings LLC/Cap Corp., Sr. Unsecd. Note, 144A, 4.250%, 1/15/2034 | &nbsp;&nbsp; 85642 |
| &nbsp;&nbsp; 225000 | CCO Holdings LLC/Cap Corp., Sr. Unsecd. Note, 144A, 4.500%, 6/1/2033 | &nbsp;&nbsp; 196050 |
| &nbsp;&nbsp; 700000 | CCO Holdings LLC/Cap Corp., Sr. Unsecd. Note, 144A, 4.750%, 3/1/2030 | &nbsp;&nbsp; 664653 |

---

**1**

------

---

| | | |
|:---|:---|:---|
| **Principal**<br> **Amount**<br> **or Shares**<br>|  | **Value** |
|  | CORPORATE BONDS—continued |  |
|  | **Cable Satellite—continued** |  |
| $350000 | CCO Holdings LLC/Cap Corp., Sr. Unsecd. Note, 144A, 5.000%, 2/1/2028 | &nbsp;&nbsp; $347338 |
| &nbsp;&nbsp; 200000 | CCO Holdings LLC/Cap Corp., Sr. Unsecd. Note, 144A, 5.375%, 6/1/2029 | &nbsp;&nbsp; 197375 |
| &nbsp;&nbsp; 175000 | CCO Holdings LLC/Cap Corp., Sr. Unsecd. Note, 144A, 7.000%, 2/1/2033 | &nbsp;&nbsp; 175656 |
| &nbsp;&nbsp; 300000 | CSC Holdings LLC, Sr. Unsecd. Note, 144A, 4.500%, 11/15/2031 | &nbsp;&nbsp; 178320 |
| &nbsp;&nbsp; 150000 | Sirius XM Radio LLC, Sr. Unsecd. Note, 144A, 4.000%, 7/15/2028 | &nbsp;&nbsp; 144878 |
| &nbsp;&nbsp; 200000 | Sirius XM Radio LLC, Sr. Unsecd. Note, 144A, 4.125%, 7/1/2030 | &nbsp;&nbsp; 187396 |
| &nbsp;&nbsp; 125000 | Sirius XM Radio LLC, Sr. Unsecd. Note, 144A, 5.500%, 7/1/2029 | &nbsp;&nbsp; 124663 |
| &nbsp;&nbsp; 125000 | Sirius XM Radio LLC, Sr. Unsecd. Note, 144A, 5.875%, 4/15/2032 | &nbsp;&nbsp; 124295 |
| &nbsp;&nbsp; 375000 | Sunrise FinCo I B.V., Sr. Note, 144A, 4.875%, 7/15/2031 | &nbsp;&nbsp; 357418 |
| &nbsp;&nbsp; 50000 | Telenet Finance Luxembourg, Sr. Secd. Note, 144A, 5.500%, 3/1/2028 | &nbsp;&nbsp; 49197 |
| &nbsp;&nbsp; 200000 | Virgin Media Secured Finance PLC, Sr. Secd. Note, 144A, 4.500%, 8/15/2030 | &nbsp;&nbsp; 177526 |
| &nbsp;&nbsp; 200000 | Vmed O2 UK Financing I PLC, Sr. Note, 144A, 4.750%, 7/15/2031 | &nbsp;&nbsp; 172286 |
| &nbsp;&nbsp; 250000 | VZ Secured Financing B.V., Sr. Secd. Note, 144A, 5.000%, 1/15/2032 | &nbsp;&nbsp; 214543 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 3511247 |
|  | **Chemicals—4.5%** |  |
| &nbsp;&nbsp; 150000 | Ashland, Inc., Sr. Unsecd. Note, 144A, 3.375%, 9/1/2031 | &nbsp;&nbsp; 134818 |
| &nbsp;&nbsp; 150000 | Axalta Coating Systems LLC/Axalta Coating Systems Dutch Holding B B.V., Sr. Unsecd. Note, 144A, 4.750%, 6/15/2027 | &nbsp;&nbsp; 149075 |
| &nbsp;&nbsp; 150000 | Axalta Coating Systems LLC/Axalta Coating Systems Dutch Holding B B.V., Sr. Unsecd. Note, 144A, 7.250%, 2/15/2031 | &nbsp;&nbsp; 157045 |
| &nbsp;&nbsp; 25000 | Celanese US Holdings LLC, Sr. Unsecd. Note, 6.500%, 4/15/2030 | &nbsp;&nbsp; 25529 |
| &nbsp;&nbsp; 350000 | Celanese US Holdings LLC, Sr. Unsecd. Note, 6.750%, 4/15/2033 | &nbsp;&nbsp; 359308 |
| &nbsp;&nbsp; 125000 | Celanese US Holdings LLC, Sr. Unsecd. Note, 7.000%, 2/15/2031 | &nbsp;&nbsp; 128445 |
| &nbsp;&nbsp; 150000 | Element Solutions, Inc., Sr. Unsecd. Note, 144A, 3.875%, 9/1/2028 | &nbsp;&nbsp; 146142 |
| &nbsp;&nbsp; 175000 | H.B. Fuller Co., Sr. Unsecd. Note, 4.250%, 10/15/2028 | &nbsp;&nbsp; 169127 |
| &nbsp;&nbsp; 53000 | Illuminate Buyer LLC/Illuminate Holdings IV, Inc., Sr. Unsecd. Note, 144A, 9.000%, 7/1/2028 | &nbsp;&nbsp; 53095 |
| &nbsp;&nbsp; 200000 | Inversion Escrow Issuer LLC, Secured Note, 144A, 6.750%, 8/1/2032 | &nbsp;&nbsp; 190668 |
| &nbsp;&nbsp; 325000 | Maxam Prill S.a.r.l., Sr. Secd. Note, 144A, 7.750%, 7/15/2030 | &nbsp;&nbsp; 331325 |
| &nbsp;&nbsp; 375000 | Olympus Water US Holding Corp., Secured Note, 144A, 7.250%, 2/15/2033 | &nbsp;&nbsp; 358120 |
| &nbsp;&nbsp; 275000 | Olympus Water US Holding Corp., Sr. Secd. Note, 144A, 4.250%, 10/1/2028 | &nbsp;&nbsp; 262862 |
| &nbsp;&nbsp; 75000 | Qnity Electronics, Inc., Sr. Secd. Note, 144A, 5.750%, 8/15/2032 | &nbsp;&nbsp; 75183 |
| &nbsp;&nbsp; 75000 | Qnity Electronics, Inc., Sr. Unsecd. Note, 144A, 6.250%, 8/15/2033 | &nbsp;&nbsp; 75929 |
| &nbsp;&nbsp; 200000 | SNF Group SACA, Sr. Unsecd. Note, 144A, 3.375%, 3/15/2030 | &nbsp;&nbsp; 185134 |
| &nbsp;&nbsp; 150000 | Solstice Advanced Materials, Inc., Sr. Unsecd. Note, 144A, 5.625%, 9/30/2033 | &nbsp;&nbsp; 148055 |
| &nbsp;&nbsp; 25000 | WR Grace Holdings LLC, Secured Note, 144A, 7.000%, 8/1/2033 | &nbsp;&nbsp; 24301 |
| &nbsp;&nbsp; 225000 | WR Grace Holdings LLC, Sr. Secd. Note, 144A, 6.625%, 8/15/2032 | &nbsp;&nbsp; 219439 |
| &nbsp;&nbsp; 75000 | WR Grace Holdings LLC, Sr. Secd. Note, 144A, 7.375%, 3/1/2031 | &nbsp;&nbsp; 75251 |
| &nbsp;&nbsp; 125000 | WR Grace Holdings LLC, Sr. Unsecd. Note, 144A, 5.625%, 8/15/2029 | &nbsp;&nbsp; 115086 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 3383937 |
|  | **Construction Machinery—0.8%** |  |
| &nbsp;&nbsp; 50000 | Herc Holdings, Inc., Sr. Unsecd. Note, 144A, 6.000%, 3/15/2034 | &nbsp;&nbsp; 48389 |
| &nbsp;&nbsp; 125000 | Herc Holdings, Inc., Sr. Unsecd. Note, 144A, 7.000%, 6/15/2030 | &nbsp;&nbsp; 128261 |
| &nbsp;&nbsp; 100000 | Herc Holdings, Inc., Sr. Unsecd. Note, 144A, 7.250%, 6/15/2033 | &nbsp;&nbsp; 102559 |
| &nbsp;&nbsp; 50000 | United Rentals North America, Inc., 144A, 6.000%, 12/15/2029 | &nbsp;&nbsp; 50868 |
| &nbsp;&nbsp; 175000 | United Rentals North America, Inc., Sr. Unsecd. Note, 3.750%, 1/15/2032 | &nbsp;&nbsp; 160610 |
| &nbsp;&nbsp; 75000 | United Rentals North America, Inc., Sr. Unsecd. Note, 4.000%, 7/15/2030 | &nbsp;&nbsp; 71295 |
| &nbsp;&nbsp; 50000 | United Rentals North America, Inc., Sr. Unsecd. Note, 144A, 5.375%, 11/15/2033 | &nbsp;&nbsp; 48671 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 610653 |
|  | **Consumer Cyclical Services—2.9%** |  |
| &nbsp;&nbsp; 75000 | Allied Universal Holdco LLC, Sr. Secd. Note, 144A, 6.875%, 6/15/2030 | &nbsp;&nbsp; 76084 |
| &nbsp;&nbsp; 300000 | Allied Universal Holdco LLC, Sr. Secd. Note, 144A, 7.875%, 2/15/2031 | &nbsp;&nbsp; 309566 |
| &nbsp;&nbsp; 200000 | Allied Universal Holdco LLC, Sr. Unsecd. Note, 144A, 6.000%, 6/1/2029 | &nbsp;&nbsp; 193454 |

---

**2**

------

---

| | | |
|:---|:---|:---|
| **Principal**<br> **Amount**<br> **or Shares**<br>|  | **Value** |
|  | CORPORATE BONDS—continued |  |
|  | **Consumer Cyclical Services—continued** |  |
| $125000 | Cars.com, Inc., Sr. Unsecd. Note, 144A, 6.375%, 11/1/2028 | &nbsp;&nbsp; $121613 |
| &nbsp;&nbsp; 50000 | Garda World Security Corp., Sr. Secd. Note, 144A, 6.500%, 1/15/2031 | &nbsp;&nbsp; 50729 |
| &nbsp;&nbsp; 50000 | Garda World Security Corp., Sr. Unsecd. Note, 144A, 6.000%, 6/1/2029 | &nbsp;&nbsp; 47641 |
| &nbsp;&nbsp; 650000 | Garda World Security Corp., Sr. Unsecd. Note, 144A, 8.375%, 11/15/2032 | &nbsp;&nbsp; 651013 |
| &nbsp;&nbsp; 450000 | Match Group Holdings II LLC, Sr. Unsecd. Note, 144A, 4.125%, 8/1/2030 | &nbsp;&nbsp; 417436 |
| &nbsp;&nbsp; 125000 | The Brink's Co., Sr. Unsecd. Note, 144A, 6.500%, 6/15/2029 | &nbsp;&nbsp; 127020 |
| &nbsp;&nbsp; 150000 | The Brink's Co., Sr. Unsecd. Note, 144A, 6.750%, 6/15/2032 | &nbsp;&nbsp; 151973 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 2146529 |
|  | **Consumer Products—2.5%** |  |
| &nbsp;&nbsp; 75000 | Acushnet Co., Sr. Unsecd. Note, 144A, 5.625%, 12/1/2033 | &nbsp;&nbsp; 74607 |
| &nbsp;&nbsp; 608780 | Beach Acquisition Bidco, Sr. Unsecd. Note, 144A, 10.750%, 7/15/2033 | &nbsp;&nbsp; 648803 |
| &nbsp;&nbsp; 275000 | Champ Acquisition Corp., Sr. Secd. Note, 144A, 8.375%, 12/1/2031 | &nbsp;&nbsp; 288923 |
| &nbsp;&nbsp; 350000 | Energizer Holdings, Inc., Sr. Unsecd. Note, 144A, 4.375%, 3/31/2029 | &nbsp;&nbsp; 333270 |
| &nbsp;&nbsp; 75000 | Energizer Holdings, Inc., Sr. Unsecd. Note, 144A, 4.750%, 6/15/2028 | &nbsp;&nbsp; 73873 |
| &nbsp;&nbsp; 200000 | Energizer Holdings, Inc., Sr. Unsecd. Note, 144A, 6.000%, 9/15/2033 | &nbsp;&nbsp; 187557 |
| &nbsp;&nbsp; 75000 | Whirlpool Corp., Sr. Unsecd. Note, 6.125%, 6/15/2030 | &nbsp;&nbsp; 73289 |
| &nbsp;&nbsp; 225000 | Whirlpool Corp., Sr. Unsecd. Note, 6.500%, 6/15/2033 | &nbsp;&nbsp; 213442 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 1893764 |
|  | **Diversified Manufacturing—1.7%** |  |
| &nbsp;&nbsp; 375000 | EMRLD Borrower LP / Emerald Co-Issuer, Inc., Sr. Secd. Note, 144A, 6.625%, 12/15/2030 | &nbsp;&nbsp; 381866 |
| &nbsp;&nbsp; 75000 | EnPro, Inc., Sr. Unsecd. Note, 144A, 6.125%, 6/1/2033 | &nbsp;&nbsp; 76047 |
| &nbsp;&nbsp; 375000 | Gates Corp., Sr. Unsecd. Note, 144A, 6.875%, 7/1/2029 | &nbsp;&nbsp; 385233 |
| &nbsp;&nbsp; 50000 | WESCO Distribution, Inc., Sr. Unsecd. Note, 144A, 5.500%, 4/15/2034 | &nbsp;&nbsp; 49367 |
| &nbsp;&nbsp; 75000 | WESCO Distribution, Inc., Sr. Unsecd. Note, 144A, 6.375%, 3/15/2033 | &nbsp;&nbsp; 76472 |
| &nbsp;&nbsp; 175000 | WESCO Distribution, Inc., Sr. Unsecd. Note, 144A, 6.625%, 3/15/2032 | &nbsp;&nbsp; 179337 |
| &nbsp;&nbsp; 100000 | WESCO Distribution, Inc., Sr. Unsecd. Note, 144A, 7.250%, 6/15/2028 | &nbsp;&nbsp; 100615 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 1248937 |
|  | **Environmental—0.2%** |  |
| &nbsp;&nbsp; 150000 | Clean Harbors, Inc., Sr. Unsecd. Note, 144A, 5.750%, 10/15/2033 | &nbsp;&nbsp; 149787 |
|  | **Finance Companies—1.5%** |  |
| &nbsp;&nbsp; 500000 | CrossCountry Intermediate HoldCo LLC, Sr. Unsecd. Note, 144A, 6.500%, 10/1/2030 | &nbsp;&nbsp; 477194 |
| &nbsp;&nbsp; 25000 | CrossCountry Intermediate HoldCo LLC, Sr. Unsecd. Note, 144A, 6.750%, 12/1/2032 | &nbsp;&nbsp; 23548 |
| &nbsp;&nbsp; 200000 | Rocket Cos., Inc., Sr. Unsecd. Note, 144A, 6.375%, 8/1/2033 | &nbsp;&nbsp; 202399 |
| &nbsp;&nbsp; 100000 | Rocket Mortgage Co-Issuer, Inc., Sr. Unsecd. Note, 144A, 2.875%, 10/15/2026 | &nbsp;&nbsp; 98974 |
| &nbsp;&nbsp; 100000 | Rocket Mortgage Co-Issuer, Inc., Sr. Unsecd. Note, 144A, 3.625%, 3/1/2029 | &nbsp;&nbsp; 94757 |
| &nbsp;&nbsp; 125000 | Rocket Mortgage Co-Issuer, Inc., Sr. Unsecd. Note, 144A, 3.875%, 3/1/2031 | &nbsp;&nbsp; 115408 |
| &nbsp;&nbsp; 150000 | Rocket Mortgage Co-Issuer, Inc., Sr. Unsecd. Note, 144A, 4.000%, 10/15/2033 | &nbsp;&nbsp; 134569 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 1146849 |
|  | **Food & Beverage—2.4%** |  |
| &nbsp;&nbsp; 300000 | Bellring Brands, Inc., Sr. Unsecd. Note, 144A, 7.000%, 3/15/2030 | &nbsp;&nbsp; 300299 |
| &nbsp;&nbsp; 450000 | Froneri Lux Finco S.a.r.l., Sr. Secd. Note, 144A, 6.000%, 8/1/2032 | &nbsp;&nbsp; 439188 |
| &nbsp;&nbsp; 150000 | Industrial F&B Investments III, Inc., 144A, 7.750%, 2/11/2033 | &nbsp;&nbsp; 151688 |
| &nbsp;&nbsp; 125000 | Performance Food Group, Inc., Sr. Unsecd. Note, 144A, 4.250%, 8/1/2029 | &nbsp;&nbsp; 120172 |
| &nbsp;&nbsp; 125000 | Performance Food Group, Inc., Sr. Unsecd. Note, 144A, 5.625%, 3/1/2034 | &nbsp;&nbsp; 120700 |
| &nbsp;&nbsp; 125000 | Performance Food Group, Inc., Sr. Unsecd. Note, 144A, 6.125%, 9/15/2032 | &nbsp;&nbsp; 125387 |
| &nbsp;&nbsp; 100000 | Post Holdings, Inc., Sr. Secd. Note, 144A, 6.250%, 2/15/2032 | &nbsp;&nbsp; 101159 |
| &nbsp;&nbsp; 150000 | US Foods, Inc., Sr. Unsecd. Note, 144A, 4.625%, 6/1/2030 | &nbsp;&nbsp; 146177 |
| &nbsp;&nbsp; 250000 | US Foods, Inc., Sr. Unsecd. Note, 144A, 4.750%, 2/15/2029 | &nbsp;&nbsp; 246857 |
| &nbsp;&nbsp; 25000 | US Foods, Inc., Sr. Unsecd. Note, 144A, 5.750%, 4/15/2033 | &nbsp;&nbsp; 24913 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 1776540 |

---

**3**

------

---

| | | |
|:---|:---|:---|
| **Principal**<br> **Amount**<br> **or Shares**<br>|  | **Value** |
|  | CORPORATE BONDS—continued |  |
|  | **Gaming—4.1%** |  |
| $125000 | Boyd Gaming Corp., Sr. Unsecd. Note, 4.750%, 12/1/2027 | &nbsp;&nbsp; $123770 |
| &nbsp;&nbsp; 100000 | Boyd Gaming Corp., Sr. Unsecd. Note, 144A, 4.750%, 6/15/2031 | &nbsp;&nbsp; 95167 |
| &nbsp;&nbsp; 500000 | Caesars Entertainment, Inc., 144A, 6.000%, 10/15/2032 | &nbsp;&nbsp; 460614 |
| &nbsp;&nbsp; 50000 | Caesars Entertainment, Inc., Sr. Secd. Note, 144A, 6.500%, 2/15/2032 | &nbsp;&nbsp; 49458 |
| &nbsp;&nbsp; 300000 | Churchill Downs, Inc., Sr. Secd. Note, 144A, 5.750%, 4/1/2030 | &nbsp;&nbsp; 296837 |
| &nbsp;&nbsp; 75000 | Churchill Downs, Inc., Sr. Unsecd. Note, 144A, 6.750%, 5/1/2031 | &nbsp;&nbsp; 76504 |
| &nbsp;&nbsp; 50000 | Light & Wonder International, Inc., Sr. Unsecd. Note, 144A, 6.250%, 10/1/2033 | &nbsp;&nbsp; 49024 |
| &nbsp;&nbsp; 100000 | Light & Wonder International, Inc., Sr. Unsecd. Note, 144A, 7.250%, 11/15/2029 | &nbsp;&nbsp; 101987 |
| &nbsp;&nbsp; 250000 | Light & Wonder International, Inc., Sr. Unsecd. Note, 144A, 7.500%, 9/1/2031 | &nbsp;&nbsp; 256717 |
| &nbsp;&nbsp; 125000 | MGM Resorts International, Sr. Unsecd. Note, 6.125%, 9/15/2029 | &nbsp;&nbsp; 125810 |
| &nbsp;&nbsp; 225000 | MGM Resorts International, Sr. Unsecd. Note, 6.500%, 4/15/2032 | &nbsp;&nbsp; 226987 |
| &nbsp;&nbsp; 375000 | Midwest Gaming Borrower LLC, Sr. Note, 144A, 4.875%, 5/1/2029 | &nbsp;&nbsp; 363888 |
| &nbsp;&nbsp; 175000 | Rivers Enterprise Lender LLC/Rivers Enterprise Lender Corp., Secured Note, 144A, 6.250%, 10/15/2030 | &nbsp;&nbsp; 174661 |
| &nbsp;&nbsp; 50000 | Station Casinos, LLC, 144A, 6.625%, 3/15/2032 | &nbsp;&nbsp; 50233 |
| &nbsp;&nbsp; 225000 | Station Casinos, LLC, Sr. Unsecd. Note, 144A, 4.500%, 2/15/2028 | &nbsp;&nbsp; 220653 |
| &nbsp;&nbsp; 125000 | Station Casinos, LLC, Sr. Unsecd. Note, 144A, 4.625%, 12/1/2031 | &nbsp;&nbsp; 116836 |
| &nbsp;&nbsp; 275000 | Wynn Resorts Finance LLC/Wynn Resorts Capital Corp., Sr. Unsecd. Note, 144A, 6.250%, 3/15/2033 | &nbsp;&nbsp; 272419 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 3061565 |
|  | **Health Care—4.2%** |  |
| &nbsp;&nbsp; 175000 | AHP Health Partners, Inc., Sr. Unsecd. Note, 144A, 5.750%, 7/15/2029 | &nbsp;&nbsp; 173200 |
| &nbsp;&nbsp; 225000 | Avantor Funding, Inc., Sr. Unsecd. Note, 144A, 3.875%, 11/1/2029 | &nbsp;&nbsp; 211259 |
| &nbsp;&nbsp; 225000 | Avantor Funding, Inc., Sr. Unsecd. Note, 144A, 4.625%, 7/15/2028 | &nbsp;&nbsp; 219738 |
| &nbsp;&nbsp; 75000 | CHS/Community Health Systems, Inc., 144A, 6.125%, 4/1/2030 | &nbsp;&nbsp; 65293 |
| &nbsp;&nbsp; 50000 | CHS/Community Health Systems, Inc., 144A, 6.875%, 4/15/2029 | &nbsp;&nbsp; 48133 |
| &nbsp;&nbsp; 125000 | CHS/Community Health Systems, Inc., Sr. Note, 144A, 5.250%, 5/15/2030 | &nbsp;&nbsp; 117890 |
| &nbsp;&nbsp; 50000 | CHS/Community Health Systems, Inc., Sr. Secd. Note, 144A, 6.000%, 1/15/2029 | &nbsp;&nbsp; 49480 |
| &nbsp;&nbsp; 150000 | CHS/Community Health Systems, Inc., Sr. Secd. Note, 144A, 9.750%, 1/15/2034 | &nbsp;&nbsp; 155868 |
| &nbsp;&nbsp; 250000 | Concentra Escrow Issuer Corp., Sr. Unsecd. Note, 144A, 6.875%, 7/15/2032 | &nbsp;&nbsp; 258779 |
| &nbsp;&nbsp; 50000 | Insulet Corp., Sr. Unsecd. Note, 144A, 6.500%, 4/1/2033 | &nbsp;&nbsp; 51072 |
| &nbsp;&nbsp; 600000 | Medline Borrower LP, Sr. Unsecd. Note, 144A, 5.250%, 10/1/2029 | &nbsp;&nbsp; 595079 |
| &nbsp;&nbsp; 125000 | Medline Borrower LP/Medline Co-Issuer, Inc., 144A, 6.250%, 4/1/2029 | &nbsp;&nbsp; 127529 |
| &nbsp;&nbsp; 200000 | Raven Acquisition Holdings LLC, Sr. Secd. Note, 144A, 6.875%, 11/15/2031 | &nbsp;&nbsp; 192981 |
| &nbsp;&nbsp; 300000 | Select Medical Corp., 144A, 6.250%, 12/1/2032 | &nbsp;&nbsp; 286208 |
| &nbsp;&nbsp; 50000 | Teleflex, Inc., Sr. Unsecd. Note, 144A, 4.250%, 6/1/2028 | &nbsp;&nbsp; 48651 |
| &nbsp;&nbsp; 25000 | Tenet Healthcare Corp., 4.625%, 6/15/2028 | &nbsp;&nbsp; 24793 |
| &nbsp;&nbsp; 50000 | Tenet Healthcare Corp., 5.125%, 11/1/2027 | &nbsp;&nbsp; 49982 |
| &nbsp;&nbsp; 75000 | Tenet Healthcare Corp., 144A, 5.500%, 11/15/2032 | &nbsp;&nbsp; 74360 |
| &nbsp;&nbsp; 50000 | Tenet Healthcare Corp., Sr. Secd. Note, 6.125%, 6/15/2030 | &nbsp;&nbsp; 50388 |
| &nbsp;&nbsp; 150000 | Tenet Healthcare Corp., Sr. Secd. Note, 6.750%, 5/15/2031 | &nbsp;&nbsp; 153409 |
| &nbsp;&nbsp; 210000 | Tenet Healthcare Corp., Sr. Unsecd. Note, 6.125%, 10/1/2028 | &nbsp;&nbsp; 210609 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 3164701 |
|  | **Health Insurance—0.3%** |  |
| &nbsp;&nbsp; 225000 | Molina Healthcare, Inc., Sr. Unsecd. Note, 144A, 6.250%, 1/15/2033 | &nbsp;&nbsp; 218297 |
|  | **Independent Energy—3.6%** |  |
| &nbsp;&nbsp; 100000 | Aethon United BR LP/Aethon United Finance Corp., 144A, 7.500%, 10/1/2029 | &nbsp;&nbsp; 104355 |
| &nbsp;&nbsp; 75000 | Antero Resources Corp., Sr. Unsecd. Note, 144A, 5.375%, 3/1/2030 | &nbsp;&nbsp; 75419 |
| &nbsp;&nbsp; 125000 | Ascent Resources Utica Holdings LLC/ ARU Finance Corp., Sr. Unsecd. Note, 144A, 5.875%, 6/30/2029 | &nbsp;&nbsp; 124952 |
| &nbsp;&nbsp; 75000 | Ascent Resources Utica Holdings LLC/ ARU Finance Corp., Sr. Unsecd. Note, 144A, 6.625%, 7/15/2033 | &nbsp;&nbsp; 76337 |
| &nbsp;&nbsp; 75000 | Ascent Resources Utica Holdings LLC/ ARU Finance Corp., Sr. Unsecd. Note, 144A, 9.000%, 11/1/2027 | &nbsp;&nbsp; 87825 |
| &nbsp;&nbsp; 150000 | Chord Energy Corp., Sr. Unsecd. Note, 144A, 6.000%, 10/1/2030 | &nbsp;&nbsp; 152079 |

---

**4**

------

---

| | | |
|:---|:---|:---|
| **Principal**<br> **Amount**<br> **or Shares**<br>|  | **Value** |
|  | CORPORATE BONDS—continued |  |
|  | **Independent Energy—continued** |  |
| $100000 | CNX Resources Corp., Sr. Unsecd. Note, 144A, 5.875%, 3/1/2034 | &nbsp;&nbsp; $97459 |
| &nbsp;&nbsp; 150000 | CNX Resources Corp., Sr. Unsecd. Note, 144A, 7.250%, 3/1/2032 | &nbsp;&nbsp; 154662 |
| &nbsp;&nbsp; 175000 | Comstock Resources, Inc., Sr. Unsecd. Note, 144A, 6.750%, 3/1/2029 | &nbsp;&nbsp; 172870 |
| &nbsp;&nbsp; 125000 | Comstock Resources, Inc., Sr. Unsecd. Note, 144A, 6.750%, 3/1/2029 | &nbsp;&nbsp; 123631 |
| &nbsp;&nbsp; 75000 | EQT Corp., Sr. Unsecd. Note, 4.750%, 1/15/2031 | &nbsp;&nbsp; 74639 |
| &nbsp;&nbsp; 50000 | Matador Resources Co., Sr. Unsecd. Note, 144A, 6.000%, 4/15/2034 | &nbsp;&nbsp; 49714 |
| &nbsp;&nbsp; 250000 | Matador Resources Co., Sr. Unsecd. Note, 144A, 6.500%, 4/15/2032 | &nbsp;&nbsp; 252905 |
| &nbsp;&nbsp; 75000 | Range Resources Corp., Sr. Unsecd. Note, 144A, 4.750%, 2/15/2030 | &nbsp;&nbsp; 73174 |
| &nbsp;&nbsp; 375000 | Rockcliff Energy II LLC, Sr. Unsecd. Note, 144A, 5.500%, 10/15/2029 | &nbsp;&nbsp; 366944 |
| &nbsp;&nbsp; 50000 | SM Energy Co., Sr. Unsecd. Note, 6.625%, 1/15/2027 | &nbsp;&nbsp; 50030 |
| &nbsp;&nbsp; 100000 | SM Energy Co., Sr. Unsecd. Note, 6.750%, 9/15/2026 | &nbsp;&nbsp; 100116 |
| &nbsp;&nbsp; 100000 | SM Energy Co., Sr. Unsecd. Note, 144A, 6.625%, 4/15/2034 | &nbsp;&nbsp; 99798 |
| &nbsp;&nbsp; 125000 | SM Energy Co., Sr. Unsecd. Note, 144A, 6.750%, 8/1/2029 | &nbsp;&nbsp; 126973 |
| &nbsp;&nbsp; 125000 | SM Energy Co., Sr. Unsecd. Note, 144A, 8.375%, 7/1/2028 | &nbsp;&nbsp; 128510 |
| &nbsp;&nbsp; 50000 | SM Energy Co., Sr. Unsecd. Note, 144A, 8.625%, 11/1/2030 | &nbsp;&nbsp; 52784 |
| &nbsp;&nbsp; 150000 | SM Energy Co., Sr. Unsecd. Note, 144A, 8.750%, 7/1/2031 | &nbsp;&nbsp; 156872 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 2702048 |
|  | **Industrial - Other—1.6%** |  |
| &nbsp;&nbsp; 150000 | LSF12 Helix Parent LLC, Secured Note, 144A, 7.125%, 2/1/2033 | &nbsp;&nbsp; 144736 |
| &nbsp;&nbsp; 575000 | Madison IAQ LLC, Sr. Unsecd. Note, 144A, 5.875%, 6/30/2029 | &nbsp;&nbsp; 564267 |
| &nbsp;&nbsp; 500000 | SPX Flow, Inc., Sr. Unsecd. Note, 144A, 8.750%, 4/1/2030 | &nbsp;&nbsp; 510940 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 1219943 |
|  | **Insurance - P&C—9.2%** |  |
| &nbsp;&nbsp; 50000 | Acrisure LLC, Sr. Secd. Note, 144A, 6.750%, 7/1/2032 | &nbsp;&nbsp; 48230 |
| &nbsp;&nbsp; 250000 | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer, 144A, 5.875%, 11/1/2029 | &nbsp;&nbsp; 242089 |
| &nbsp;&nbsp; 200000 | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer, 144A, 7.375%, 10/1/2032 | &nbsp;&nbsp; 198340 |
| &nbsp;&nbsp; 200000 | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer, Sr. Secd. Note, 144A, 7.000%, 1/15/2031 | &nbsp;&nbsp; 201804 |
| &nbsp;&nbsp; 275000 | AmWINS Group, Inc., Sr. Secd. Note, 144A, 6.375%, 2/15/2029 | &nbsp;&nbsp; 276764 |
| &nbsp;&nbsp; 475000 | AmWINS Group, Inc., Sr. Unsecd. Note, 144A, 4.875%, 6/30/2029 | &nbsp;&nbsp; 455410 |
| &nbsp;&nbsp; 425000 | Amynta Agency/Warranty Borrower, Inc., Sr. Unsecd. Note, 144A, 7.500%, 7/15/2033 | &nbsp;&nbsp; 403500 |
| &nbsp;&nbsp; 850000 | Ardonagh Group Finance Ltd., Sr. Unsecd. Note, 144A, 8.875%, 2/15/2032 | &nbsp;&nbsp; 833644 |
| &nbsp;&nbsp; 100000 | Asurion LLC and Asurion Co-Issuer, Inc., Secured Note, 144A, 8.000%, 12/31/2032 | &nbsp;&nbsp; 103829 |
| &nbsp;&nbsp; 475000 | Baldwin Insurance Group Holdings LLC/Baldwin Insurance Group Holdings Finance, 144A, 7.125%, 5/15/2031 | &nbsp;&nbsp; 477717 |
| &nbsp;&nbsp; 650000 | Broadstreet Partners, Inc., Sr. Unsecd. Note, 144A, 5.875%, 4/15/2029 | &nbsp;&nbsp; 634102 |
| &nbsp;&nbsp; 125000 | Hub International Ltd., Sr. Secd. Note, 144A, 7.250%, 6/15/2030 | &nbsp;&nbsp; 128122 |
| &nbsp;&nbsp; 300000 | Hub International Ltd., Sr. Unsecd. Note, 144A, 5.625%, 12/1/2029 | &nbsp;&nbsp; 291267 |
| &nbsp;&nbsp; 650000 | Hub International Ltd., Sr. Unsecd. Note, 144A, 7.375%, 1/31/2032 | &nbsp;&nbsp; 663382 |
| &nbsp;&nbsp; 125000 | Jones Deslauriers Insurance Management, Inc., Sr. Secd. Note, 144A, 8.500%, 3/15/2030 | &nbsp;&nbsp; 127160 |
| &nbsp;&nbsp; 450000 | Jones Deslauriers Insurance Management, Inc., Sr. Unsecd. Note, 144A, 6.875%, 10/1/2033 | &nbsp;&nbsp; 412222 |
| &nbsp;&nbsp; 500000 | Panther Escrow Issuer, Sr. Secd. Note, 144A, 7.125%, 6/1/2031 | &nbsp;&nbsp; 501932 |
| &nbsp;&nbsp; 75000 | Ryan Specialty LLC, Sr. Secd. Note, 144A, 4.375%, 2/1/2030 | &nbsp;&nbsp; 72752 |
| &nbsp;&nbsp; 275000 | Ryan Specialty LLC, Sr. Secd. Note, 144A, 5.875%, 8/1/2032 | &nbsp;&nbsp; 272022 |
| &nbsp;&nbsp; 500000 | USI, Inc./NY, Sr. Unsecd. Note, 144A, 7.500%, 1/15/2032 | &nbsp;&nbsp; 507205 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 6851493 |
|  | **Leisure—1.8%** |  |
| &nbsp;&nbsp; 50000 | Carnival Corp., Sr. Unsecd. Note, 144A, 5.125%, 5/1/2029 | &nbsp;&nbsp; 49660 |
| &nbsp;&nbsp; 175000 | Carnival Corp., Sr. Unsecd. Note, 144A, 5.750%, 3/15/2030 | &nbsp;&nbsp; 176483 |
| &nbsp;&nbsp; 50000 | Carnival Corp., Sr. Unsecd. Note, 144A, 5.750%, 8/1/2032 | &nbsp;&nbsp; 50046 |
| &nbsp;&nbsp; 150000 | Carnival Corp., Sr. Unsecd. Note, 144A, 6.125%, 2/15/2033 | &nbsp;&nbsp; 151580 |
| &nbsp;&nbsp; 25000 | NCL Corp. Ltd., Sr. Secd. Note, 144A, 5.875%, 1/15/2031 | &nbsp;&nbsp; 24304 |

---

**5**

------

---

| | | |
|:---|:---|:---|
| **Principal**<br> **Amount**<br> **or Shares**<br>|  | **Value** |
|  | CORPORATE BONDS—continued |  |
|  | **Leisure—continued** |  |
| $25000 | NCL Corp. Ltd., Sr. Secd. Note, 144A, 6.250%, 9/15/2033 | &nbsp;&nbsp; $24276 |
| &nbsp;&nbsp; 200000 | NCL Corp. Ltd., Sr. Unsecd. Note, 144A, 6.750%, 2/1/2032 | &nbsp;&nbsp; 198629 |
| &nbsp;&nbsp; 25000 | NCL Corp. Ltd., Sr. Unsecd. Note, 144A, 7.750%, 2/15/2029 | &nbsp;&nbsp; 26043 |
| &nbsp;&nbsp; 50000 | NCL Finance Ltd., Sr. Unsecd. Note, 144A, 6.125%, 3/15/2028 | &nbsp;&nbsp; 50454 |
| &nbsp;&nbsp; 150000 | Royal Caribbean Cruises, Ltd., 144A, 6.000%, 2/1/2033 | &nbsp;&nbsp; 151536 |
| &nbsp;&nbsp; 50000 | Royal Caribbean Cruises, Ltd., Sr. Unsecd. Note, 144A, 5.625%, 9/30/2031 | &nbsp;&nbsp; 50505 |
| &nbsp;&nbsp; 200000 | Royal Caribbean Cruises, Ltd., Sr. Unsecd. Note, 144A, 6.250%, 3/15/2032 | &nbsp;&nbsp; 204514 |
| &nbsp;&nbsp; 100000 | Six Flags Entertainment Corp., Sr. Unsecd. Note, 144A, 7.250%, 5/15/2031 | &nbsp;&nbsp; 96392 |
| &nbsp;&nbsp; 100000 | United Parks & Resorts, Inc., Sr. Unsecd. Note, 144A, 5.250%, 8/15/2029 | &nbsp;&nbsp; 95574 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 1349996 |
|  | **Lodging—1.9%** |  |
| &nbsp;&nbsp; 100000 | Hilton Domestic Operating Co., Inc., Sr. Unsecd. Note, 144A, 3.625%, 2/15/2032 | &nbsp;&nbsp; 90965 |
| &nbsp;&nbsp; 50000 | Hilton Domestic Operating Co., Inc., Sr. Unsecd. Note, 144A, 5.500%, 3/31/2034 | &nbsp;&nbsp; 48888 |
| &nbsp;&nbsp; 125000 | Hilton Domestic Operating Co., Inc., Sr. Unsecd. Note, 144A, 5.750%, 9/15/2033 | &nbsp;&nbsp; 124535 |
| &nbsp;&nbsp; 175000 | Hilton Domestic Operating Co., Inc., Sr. Unsecd. Note, Series WI, 4.875%, 1/15/2030 | &nbsp;&nbsp; 172454 |
| &nbsp;&nbsp; 75000 | RHP Hotel Property/RHP Finance Corp., Sr. Unsecd. Note, 144A, 5.750%, 3/15/2034 | &nbsp;&nbsp; 74073 |
| &nbsp;&nbsp; 275000 | RHP Hotel Property/RHP Finance Corp., Sr. Unsecd. Note, 144A, 6.500%, 4/1/2032 | &nbsp;&nbsp; 280181 |
| &nbsp;&nbsp; 25000 | RHP Hotel Property/RHP Finance Corp., Sr. Unsecd. Note, 144A, 6.500%, 6/15/2033 | &nbsp;&nbsp; 25475 |
| &nbsp;&nbsp; 175000 | Wyndham Hotels & Resorts, Inc., Sr. Unsecd. Note, 144A, 4.375%, 8/15/2028 | &nbsp;&nbsp; 171053 |
| &nbsp;&nbsp; 125000 | Wyndham Hotels & Resorts, Inc., Sr. Unsecd. Note, 144A, 5.625%, 3/1/2033 | &nbsp;&nbsp; 123118 |
| &nbsp;&nbsp; 275000 | XHR LP, Sr. Unsecd. Note, 144A, 6.625%, 5/15/2030 | &nbsp;&nbsp; 277985 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 1388727 |
|  | **Media Entertainment—1.9%** |  |
| &nbsp;&nbsp; 75000 | Gray Escrow II, Inc., Sr. Unsecd. Note, 144A, 5.375%, 11/15/2031 | &nbsp;&nbsp; 55751 |
| &nbsp;&nbsp; 100000 | Lamar Media Corp., Sr. Unsecd. Note, 4.875%, 1/15/2029 | &nbsp;&nbsp; 98882 |
| &nbsp;&nbsp; 100000 | Lamar Media Corp., Sr. Unsecd. Note, Series WI, 3.625%, 1/15/2031 | &nbsp;&nbsp; 92599 |
| &nbsp;&nbsp; 50000 | Outfront Media Capital LLC / Outfront Media Capital Corp., Sr. Unsecd. Note, 144A, 4.250%, 1/15/2029 | &nbsp;&nbsp; 48239 |
| &nbsp;&nbsp; 275000 | Outfront Media Capital LLC / Outfront Media Capital Corp., Sr. Unsecd. Note, 144A, 4.625%, 3/15/2030 | &nbsp;&nbsp; 265492 |
| &nbsp;&nbsp; 100000 | Paramount Global, Sr. Unsecd. Note, 6.875%, 4/30/2036 | &nbsp;&nbsp; 87772 |
| &nbsp;&nbsp; 250000 | Univision Communications, Inc., Sr. Secd. Note, 144A, 4.500%, 5/1/2029 | &nbsp;&nbsp; 235052 |
| &nbsp;&nbsp; 175000 | Univision Communications, Inc., Sr. Secd. Note, 144A, 7.375%, 6/30/2030 | &nbsp;&nbsp; 171604 |
| &nbsp;&nbsp; 50000 | Univision Communications, Inc., Sr. Secd. Note, 144A, 8.000%, 8/15/2028 | &nbsp;&nbsp; 50778 |
| &nbsp;&nbsp; 50000 | Warnermedia Holdings, Inc., Sr. Unsecd. Note, 4.279%, 3/15/2032 | &nbsp;&nbsp; 44312 |
| &nbsp;&nbsp; 375000 | Warnermedia Holdings, Inc., Sr. Unsecd. Note, 5.050%, 3/15/2042 | &nbsp;&nbsp; 247990 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 1398471 |
|  | **Metals & Mining—1.2%** |  |
| &nbsp;&nbsp; 50000 | Carpenter Technology Corp., Sr. Unsecd. Note, 144A, 5.625%, 3/1/2034 | &nbsp;&nbsp; 49602 |
| &nbsp;&nbsp; 150000 | Cleveland-Cliffs, Inc., Sr. Unsecd. Note, 144A, 4.625%, 3/1/2029 | &nbsp;&nbsp; 143258 |
| &nbsp;&nbsp; 200000 | Cleveland-Cliffs, Inc., Sr. Unsecd. Note, 144A, 6.750%, 4/15/2030 | &nbsp;&nbsp; 195249 |
| &nbsp;&nbsp; 200000 | Cleveland-Cliffs, Inc., Sr. Unsecd. Note, 144A, 7.000%, 3/15/2032 | &nbsp;&nbsp; 193760 |
| &nbsp;&nbsp; 25000 | Cleveland-Cliffs, Inc., Sr. Unsecd. Note, 144A, 7.500%, 9/15/2031 | &nbsp;&nbsp; 24960 |
| &nbsp;&nbsp; 275000 | Coeur Mining, Inc., Sr. Unsecd. Note, 144A, 5.125%, 2/15/2029 | &nbsp;&nbsp; 272516 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 879345 |
|  | **Midstream—5.3%** |  |
| &nbsp;&nbsp; 150000 | Antero Midstream Partners LP, Sr. Unsecd. Note, 144A, 5.375%, 6/15/2029 | &nbsp;&nbsp; 149604 |
| &nbsp;&nbsp; 400000 | Antero Midstream Partners LP, Sr. Unsecd. Note, 144A, 5.750%, 1/15/2028 | &nbsp;&nbsp; 400224 |
| &nbsp;&nbsp; 50000 | Antero Midstream Partners LP, Sr. Unsecd. Note, 144A, 5.750%, 10/15/2033 | &nbsp;&nbsp; 49480 |
| &nbsp;&nbsp; 50000 | Antero Midstream Partners LP, Sr. Unsecd. Note, 144A, 5.750%, 7/1/2034 | &nbsp;&nbsp; 49305 |
| &nbsp;&nbsp; 75000 | Aris Water Holdings LLC, Sr. Unsecd. Note, 144A, 7.250%, 4/1/2030 | &nbsp;&nbsp; 79016 |
| &nbsp;&nbsp; 75000 | Blue Racer Midstream LLC/Blue Racer Finance Corp., Sr. Unsecd. Note, 144A, 7.000%, 7/15/2029 | &nbsp;&nbsp; 77522 |

---

**6**

------

---

| | | |
|:---|:---|:---|
| **Principal**<br> **Amount**<br> **or Shares**<br>|  | **Value** |
|  | CORPORATE BONDS—continued |  |
|  | **Midstream—continued** |  |
| $100000 | Blue Racer Midstream LLC/Blue Racer Finance Corp., Sr. Unsecd. Note, 144A, 7.250%, 7/15/2032 | &nbsp;&nbsp; $103945 |
| &nbsp;&nbsp; 325000 | CNX Midstream Partners LP, Sr. Unsecd. Note, 144A, 4.750%, 4/15/2030 | &nbsp;&nbsp; 309212 |
| &nbsp;&nbsp; 75000 | DBR Land Holdings LLC, Sr. Unsecd. Note, 144A, 6.250%, 12/1/2030 | &nbsp;&nbsp; 75984 |
| &nbsp;&nbsp; 200000 | DT Midstream, Inc., Sr. Unsecd. Note, 144A, 4.375%, 6/15/2031 | &nbsp;&nbsp; 192851 |
| &nbsp;&nbsp; 175000 | Hess Midstream Operations LP, Sr. Unsecd. Note, 144A, 5.125%, 6/15/2028 | &nbsp;&nbsp; 174573 |
| &nbsp;&nbsp; 100000 | Hess Midstream Operations LP, Sr. Unsecd. Note, 144A, 5.500%, 10/15/2030 | &nbsp;&nbsp; 99257 |
| &nbsp;&nbsp; 50000 | Hess Midstream Operations LP, Sr. Unsecd. Note, 144A, 6.500%, 6/1/2029 | &nbsp;&nbsp; 51103 |
| &nbsp;&nbsp; 250000 | Northriver Midstream Fin, 144A, 6.750%, 7/15/2032 | &nbsp;&nbsp; 250911 |
| &nbsp;&nbsp; 250000 | Rockies Express Pipeline, Sr. Unsecd. Note, 144A, 6.750%, 3/15/2033 | &nbsp;&nbsp; 257492 |
| &nbsp;&nbsp; 175000 | Suburban Propane Partners LP, Sr. Unsecd. Note, 144A, 5.000%, 6/1/2031 | &nbsp;&nbsp; 164835 |
| &nbsp;&nbsp; 150000 | Suburban Propane Partners LP, Sr. Unsecd. Note, 144A, 6.500%, 12/15/2035 | &nbsp;&nbsp; 145949 |
| &nbsp;&nbsp; 350000 | Tallgrass Energy Partners LP, Sr. Unsecd. Note, 144A, 6.750%, 3/15/2034 | &nbsp;&nbsp; 351987 |
| &nbsp;&nbsp; 225000 | Venture Global Plaquemines LNG LLC, Sr. Secd. Note, 144A, 6.500%, 1/15/2034 | &nbsp;&nbsp; 234693 |
| &nbsp;&nbsp; 225000 | Venture Global Plaquemines LNG LLC, Sr. Secd. Note, 144A, 7.500%, 5/1/2033 | &nbsp;&nbsp; 247452 |
| &nbsp;&nbsp; 225000 | Venture Global Plaquemines LNG LLC, Sr. Unsecd. Note, 144A, 6.500%, 6/15/2034 | &nbsp;&nbsp; 234356 |
| &nbsp;&nbsp; 150000 | WBI Operating LLC, Sr. Unsecd. Note, 144A, 6.250%, 10/15/2030 | &nbsp;&nbsp; 150995 |
| &nbsp;&nbsp; 125000 | WBI Operating LLC, Sr. Unsecd. Note, 144A, 6.500%, 10/15/2033 | &nbsp;&nbsp; 124132 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 3974878 |
|  | **Oil Field Services—1.8%** |  |
| &nbsp;&nbsp; 200000 | Archrock Partners LP / Archrock Partners Finance Corp., Sr. Unsecd. Note, 144A, 6.250%, 4/1/2028 | &nbsp;&nbsp; 200000 |
| &nbsp;&nbsp; 100000 | Archrock Services LP / Archrock Partners Finance Corp., Sr. Unsecd. Note, 144A, 6.000%, 2/1/2034 | &nbsp;&nbsp; 99081 |
| &nbsp;&nbsp; 75000 | Kodiak Gas Services LLC, Sr. Unsecd. Note, 144A, 5.875%, 4/1/2031 | &nbsp;&nbsp; 75418 |
| &nbsp;&nbsp; 150000 | Kodiak Gas Services LLC, Sr. Unsecd. Note, 144A, 6.500%, 10/1/2033 | &nbsp;&nbsp; 151724 |
| &nbsp;&nbsp; 100000 | Kodiak Gas Services LLC, Sr. Unsecd. Note, 144A, 6.750%, 10/1/2035 | &nbsp;&nbsp; 101666 |
| &nbsp;&nbsp; 100000 | Kodiak Gas Services LLC, Sr. Unsecd. Note, 144A, 7.250%, 2/15/2029 | &nbsp;&nbsp; 103661 |
| &nbsp;&nbsp; 75000 | Nabors Industries, Inc., Co. Guarantee, 144A, 9.125%, 1/31/2030 | &nbsp;&nbsp; 78792 |
| &nbsp;&nbsp; 125000 | Nabors Industries, Inc., Sr. Unsecd. Note, 144A, 7.625%, 11/15/2032 | &nbsp;&nbsp; 128036 |
| &nbsp;&nbsp; 100000 | Precision Drilling Corp., Sr. Unsecd. Note, 144A, 6.875%, 1/15/2029 | &nbsp;&nbsp; 100798 |
| &nbsp;&nbsp; 175000 | USA Compression Partners LP, Sr. Unsecd. Note, 144A, 6.250%, 10/1/2033 | &nbsp;&nbsp; 174735 |
| &nbsp;&nbsp; 150000 | USA Compression Partners LP, Sr. Unsecd. Note, 144A, 7.125%, 3/15/2029 | &nbsp;&nbsp; 153565 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 1367476 |
|  | **Packaging—2.8%** |  |
| &nbsp;&nbsp; 1<br><sup>1,2,3</sup> <br>| ARD Finance S.A., Secured Note, 144A, 7.250% PIK, 6/30/2027 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp; 152000 | Ardagh Group S.A., Secured Note, 144A, 9.500%, 12/1/2030 | &nbsp;&nbsp; 159496 |
| &nbsp;&nbsp; 200000 | Ardagh Metal Packaging, Secured Note, 144A, 6.250%, 1/30/2031 | &nbsp;&nbsp; 198444 |
| &nbsp;&nbsp; 225000 | Ball Corp., Sr. Unsecd. Note, 2.875%, 8/15/2030 | &nbsp;&nbsp; 204925 |
| &nbsp;&nbsp; 50000 | Ball Corp., Sr. Unsecd. Note, 6.000%, 6/15/2029 | &nbsp;&nbsp; 50781 |
| &nbsp;&nbsp; 150000 | Clydesdale Acquisition Holdings, Inc., Sr. Secd. Note, 144A, 6.750%, 4/15/2032 | &nbsp;&nbsp; 142100 |
| &nbsp;&nbsp; 100000 | Clydesdale Acquisition Holdings, Inc., Sr. Unsecd. Note, 144A, 8.750%, 4/15/2030 | &nbsp;&nbsp; 93395 |
| &nbsp;&nbsp; 275000 | Crown Americas LLC, Sr. Unsecd. Note, 5.875%, 6/1/2033 | &nbsp;&nbsp; 275127 |
| &nbsp;&nbsp; 100000 | Mauser Packaging Solutions Holding Co., 144A, 7.875%, 4/15/2030 | &nbsp;&nbsp; 100072 |
| &nbsp;&nbsp; 100000 | Mauser Packaging Solutions Holding Co., 144A, 9.250%, 4/15/2030 | &nbsp;&nbsp; 92998 |
| &nbsp;&nbsp; 100000 | Sealed Air Corp., 144A, 6.500%, 7/15/2032 | &nbsp;&nbsp; 104958 |
| &nbsp;&nbsp; 100000 | Sealed Air Corp., Sr. Unsecd. Note, 144A, 5.000%, 4/15/2029 | &nbsp;&nbsp; 100812 |
| &nbsp;&nbsp; 180000 | Trivium Packaging Finance B.V., 144A, 8.250%, 7/15/2030 | &nbsp;&nbsp; 188470 |
| &nbsp;&nbsp; 325000 | Trivium Packaging Finance B.V., 144A, 12.250%, 1/15/2031 | &nbsp;&nbsp; 352134 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 2063712 |
|  | **Paper—0.5%** |  |
| &nbsp;&nbsp; 200000 | Clearwater Paper Corp., Sr. Unsecd. Note, 144A, 4.750%, 8/15/2028 | &nbsp;&nbsp; 173225 |
| &nbsp;&nbsp; 150000 | Graphic Packaging International, LLC, Sr. Unsecd. Note, 144A, 3.500%, 3/1/2029 | &nbsp;&nbsp; 140551 |

---

**7**

------

---

| | | |
|:---|:---|:---|
| **Principal**<br> **Amount**<br> **or Shares**<br>|  | **Value** |
|  | CORPORATE BONDS—continued |  |
|  | **Paper—continued** |  |
| $25000 | Graphic Packaging International, LLC, Sr. Unsecd. Note, 144A, 3.750%, 2/1/2030 | &nbsp;&nbsp; $22966 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 336742 |
|  | **Pharmaceuticals—2.5%** |  |
| &nbsp;&nbsp; 50000 | Amneal Pharmaceuticals, Inc., Sr. Secd. Note, 144A, 6.875%, 8/1/2032 | &nbsp;&nbsp; 51535 |
| &nbsp;&nbsp; 75000 | Bausch Health Cos., Inc., Sr. Unsecd. Note, 144A, 5.000%, 2/15/2029 | &nbsp;&nbsp; 54710 |
| &nbsp;&nbsp; 100000 | Bausch Health Cos., Inc., Sr. Unsecd. Note, 144A, 5.250%, 2/15/2031 | &nbsp;&nbsp; 61000 |
| &nbsp;&nbsp; 525000 | Bausch Health, Sr. Secd. Note, 144A, 10.000%, 4/15/2032 | &nbsp;&nbsp; 537962 |
| &nbsp;&nbsp; 200000 | Genmab A/S/Genmab Finance LLC, Sr. Unsecd. Note, 144A, 7.250%, 12/15/2033 | &nbsp;&nbsp; 209529 |
| &nbsp;&nbsp; 400000 | Grifols Escrow Issuer S.A., Sr. Unsecd. Note, 144A, 4.750%, 10/15/2028 | &nbsp;&nbsp; 392036 |
| &nbsp;&nbsp; 200000 | Opal Bidco SAS, Sr. Secd. Note, 144A, 6.500%, 3/31/2032 | &nbsp;&nbsp; 200314 |
| &nbsp;&nbsp; 200000 | Organon & Co./Organon Foreign Debt Co-Issuer B.V., Sr. Unsecd. Note, 144A, 7.875%, 5/15/2034 | &nbsp;&nbsp; 164910 |
| &nbsp;&nbsp; 225000 | Organon Finance 1 LLC, Sr. Unsecd. Note, 144A, 5.125%, 4/30/2031 | &nbsp;&nbsp; 183597 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 1855593 |
|  | **Restaurant—1.5%** |  |
| &nbsp;&nbsp; 225000 | 1011778 BC Unltd. Liability Co./New Red Finance, Inc., 144A, 3.500%, 2/15/2029 | &nbsp;&nbsp; 214942 |
| &nbsp;&nbsp; 600000 | 1011778 BC Unltd. Liability Co./New Red Finance, Inc., 144A, 4.000%, 10/15/2030 | &nbsp;&nbsp; 564270 |
| &nbsp;&nbsp; 75000 | 1011778 BC Unltd. Liability Co./New Red Finance, Inc., 144A, 5.625%, 9/15/2029 | &nbsp;&nbsp; 75257 |
| &nbsp;&nbsp; 250000 | Yum! Brands, Inc., Sr. Unsecd. Note, 4.625%, 1/31/2032 | &nbsp;&nbsp; 238904 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 1093373 |
|  | **Retailers—2.9%** |  |
| &nbsp;&nbsp; 100000 | Academy Ltd., Sr. Secd. Note, 144A, 6.000%, 11/15/2027 | &nbsp;&nbsp; 100377 |
| &nbsp;&nbsp; 75000 | Asbury Automotive Group, Inc., Sr. Unsecd. Note, 144A, 4.625%, 11/15/2029 | &nbsp;&nbsp; 72552 |
| &nbsp;&nbsp; 250000 | Asbury Automotive Group, Inc., Sr. Unsecd. Note, 144A, 5.000%, 2/15/2032 | &nbsp;&nbsp; 236977 |
| &nbsp;&nbsp; 300000 | BELRON UK Finance PLC, 144A, 5.750%, 10/15/2029 | &nbsp;&nbsp; 302089 |
| &nbsp;&nbsp; 225000 | Gap (The), Inc., Sr. Unsecd. Note, 144A, 3.625%, 10/1/2029 | &nbsp;&nbsp; 210339 |
| &nbsp;&nbsp; 200000 | Group 1 Automotive, Inc., Sr. Unsecd. Note, 144A, 6.375%, 1/15/2030 | &nbsp;&nbsp; 201475 |
| &nbsp;&nbsp; 150000 | LCM Investments Holdings II, LLC, Sr. Unsecd. Note, 144A, 4.875%, 5/1/2029 | &nbsp;&nbsp; 146057 |
| &nbsp;&nbsp; 100000 | LCM Investments Holdings II, LLC, Sr. Unsecd. Note, 144A, 8.250%, 8/1/2031 | &nbsp;&nbsp; 104176 |
| &nbsp;&nbsp; 275000 | Lithia Motors, Inc., Sr. Unsecd. Note, 144A, 5.500%, 10/1/2030 | &nbsp;&nbsp; 269627 |
| &nbsp;&nbsp; 25000 | Mens Wearhouse, Inc., Secured Note, 144A, 9.000%, 2/1/2031 | &nbsp;&nbsp; 25674 |
| &nbsp;&nbsp; 175000 | Sally Hldgs. LLC/Sally Capital, Inc., Sr. Unsecd. Note, 6.750%, 4/1/2032 | &nbsp;&nbsp; 179244 |
| &nbsp;&nbsp; 275000 | William Carter Co., Sr. Unsecd. Note, 144A, 7.375%, 2/15/2031 | &nbsp;&nbsp; 280832 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 2129419 |
|  | **Supermarkets—0.7%** |  |
| &nbsp;&nbsp; 300000 | Albertsons Cos. LLC/SAFEW, Sr. Unsecd. Note, 144A, 3.500%, 3/15/2029 | &nbsp;&nbsp; 286338 |
| &nbsp;&nbsp; 175000 | Albertsons Cos. LLC/SAFEW, Sr. Unsecd. Note, 144A, 5.625%, 3/31/2032 | &nbsp;&nbsp; 172433 |
| &nbsp;&nbsp; 50000 | Albertsons Cos. LLC/SAFEW, Sr. Unsecd. Note, 144A, 6.250%, 3/15/2033 | &nbsp;&nbsp; 50375 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 509146 |
|  | **Technology—14.7%** |  |
| &nbsp;&nbsp; 250000 | Amentum Holdings, Inc., Sr. Unsecd. Note, 144A, 7.250%, 8/1/2032 | &nbsp;&nbsp; 258941 |
| &nbsp;&nbsp; 50000 | APLD Computeco LLC, 144A, 6.750%, 3/15/2031 | &nbsp;&nbsp; 49667 |
| &nbsp;&nbsp; 325000 | APLD Computeco LLC, Sr. Secd. Note, 144A, 9.250%, 12/15/2030 | &nbsp;&nbsp; 335141 |
| &nbsp;&nbsp; 350000 | AthenaHealth Group, Inc., Sr. Unsecd. Note, 144A, 6.500%, 2/15/2030 | &nbsp;&nbsp; 328893 |
| &nbsp;&nbsp; 75000 | Black Pearl Compute LLC, Secured Note, 144A, 6.125%, 2/15/2031 | &nbsp;&nbsp; 76429 |
| &nbsp;&nbsp; 175000 | CACI International, Inc., Sr. Unsecd. Note, 144A, 6.375%, 6/15/2033 | &nbsp;&nbsp; 178258 |
| &nbsp;&nbsp; 50000 | Capstone Borrower, Inc., Sr. Secd. Note, 144A, 8.000%, 6/15/2030 | &nbsp;&nbsp; 47821 |
| &nbsp;&nbsp; 100000 | Centerfield Media Parent, Sr. Note, 144A, 6.625%, 8/1/2026 | &nbsp;&nbsp; 93615 |
| &nbsp;&nbsp; 175000 | Cipher Compute LLC, 144A, 7.125%, 11/15/2030 | &nbsp;&nbsp; 181524 |
| &nbsp;&nbsp; 400000 | Clarivate Science Holdings Corp., Sr. Unsecd. Note, 144A, 4.875%, 7/1/2029 | &nbsp;&nbsp; 347564 |
| &nbsp;&nbsp; 325000 | Cloud Software Group, Inc., Secured Note, 144A, 9.000%, 9/30/2029 | &nbsp;&nbsp; 313829 |

---

**8**

------

---

| | | |
|:---|:---|:---|
| **Principal**<br> **Amount**<br> **or Shares**<br>|  | **Value** |
|  | CORPORATE BONDS—continued |  |
|  | **Technology—continued** |  |
| $325000 | Cloud Software Group, Inc., Sr. Secd. Note, 144A, 6.500%, 3/31/2029 | &nbsp;&nbsp; $317380 |
| &nbsp;&nbsp; 100000 | Cloud Software Group, Inc., Sr. Secd. Note, 144A, 6.625%, 8/15/2033 | &nbsp;&nbsp; 88998 |
| &nbsp;&nbsp; 100000 | Cloud Software Group, Inc., Sr. Secd. Note, 144A, 8.250%, 6/30/2032 | &nbsp;&nbsp; 94924 |
| &nbsp;&nbsp; 300000 | Coherent Corp., Sr. Unsecd. Note, 144A, 5.000%, 12/15/2029 | &nbsp;&nbsp; 294520 |
| &nbsp;&nbsp; 225000 | Consensus Cloud Solutions, Inc., Sr. Unsecd. Note, 144A, 6.500%, 10/15/2028 | &nbsp;&nbsp; 223080 |
| &nbsp;&nbsp; 50000 | CoreWeave, Inc., Sr. Unsecd. Note, 144A, 9.000%, 2/1/2031 | &nbsp;&nbsp; 47638 |
| &nbsp;&nbsp; 150000 | CoreWeave, Inc., Sr. Unsecd. Note, 144A, 9.250%, 6/1/2030 | &nbsp;&nbsp; 145892 |
| &nbsp;&nbsp; 325000 | Elastic N.V., Sr. Unsecd. Note, 144A, 4.125%, 7/15/2029 | &nbsp;&nbsp; 305125 |
| &nbsp;&nbsp; 100000 | Ellucian Holdings, Inc., Sr. Secd. Note, 144A, 6.500%, 12/1/2029 | &nbsp;&nbsp; 97926 |
| &nbsp;&nbsp; 350000 | Entegris, Inc., Sr. Unsecd. Note, 144A, 5.950%, 6/15/2030 | &nbsp;&nbsp; 352462 |
| &nbsp;&nbsp; 125000 | Fair Isaac & Co., Inc., Sr. Unsecd. Note, 144A, 6.000%, 5/15/2033 | &nbsp;&nbsp; 122728 |
| &nbsp;&nbsp; 150000 | Fair Isaac & Co., Inc., Sr. Unsecd. Note, 144A, 6.250%, 9/15/2034 | &nbsp;&nbsp; 147658 |
| &nbsp;&nbsp; 400000 | Fortress Intermediate 3, Inc., Sr. Secd. Note, 144A, 7.500%, 6/1/2031 | &nbsp;&nbsp; 398039 |
| &nbsp;&nbsp; 150000 | Gen Digital, Inc., Sr. Unsecd. Note, 144A, 6.250%, 4/1/2033 | &nbsp;&nbsp; 145936 |
| &nbsp;&nbsp; 225000 | HealthEquity, Inc., Sr. Unsecd. Note, 144A, 4.500%, 10/1/2029 | &nbsp;&nbsp; 217966 |
| &nbsp;&nbsp; 250000 | Insight Enterprises, Inc., Sr. Unsecd. Note, 144A, 6.625%, 5/15/2032 | &nbsp;&nbsp; 241506 |
| &nbsp;&nbsp; 200000 | Iron Mountain, Inc., 144A, 6.250%, 1/15/2033 | &nbsp;&nbsp; 199520 |
| &nbsp;&nbsp; 75000 | Iron Mountain, Inc., Sr. Unsecd. Note, 144A, 5.250%, 7/15/2030 | &nbsp;&nbsp; 72910 |
| &nbsp;&nbsp; 200000 | Iron Mountain, Inc., Sr. Unsecd. Note, 144A, 7.000%, 2/15/2029 | &nbsp;&nbsp; 203976 |
| &nbsp;&nbsp; 275000 | KIOXIA Holdings Corp., Sr. Unsecd. Note, 144A, 6.625%, 7/24/2033 | &nbsp;&nbsp; 282899 |
| &nbsp;&nbsp; 675000 | McAfee Corp., Sr. Unsecd. Note, 144A, 7.375%, 2/15/2030 | &nbsp;&nbsp; 558418 |
| &nbsp;&nbsp; 175000 | NCR Voyix Corp., Sr. Unsecd. Note, 144A, 5.000%, 10/1/2028 | &nbsp;&nbsp; 168758 |
| &nbsp;&nbsp; 59000 | NCR Voyix Corp., Sr. Unsecd. Note, 144A, 5.125%, 4/15/2029 | &nbsp;&nbsp; 56489 |
| &nbsp;&nbsp; 150000 | Oak-Eagle AcquireCo, Inc., 144A, 7.250%, 7/1/2033 | &nbsp;&nbsp; 155512 |
| &nbsp;&nbsp; 300000 | Oak-Eagle AcquireCo, Inc., Sr. Unsecd. Note, 144A, 8.750%, 7/1/2034 | &nbsp;&nbsp; 314264 |
| &nbsp;&nbsp; 175000 | Open Text, Inc., Sr. Unsecd. Note, 144A, 3.875%, 2/15/2028 | &nbsp;&nbsp; 168657 |
| &nbsp;&nbsp; 75000 | Open Text, Inc., Sr. Unsecd. Note, 144A, 4.125%, 2/15/2030 | &nbsp;&nbsp; 67079 |
| &nbsp;&nbsp; 175000 | Open Text, Inc., Sr. Unsecd. Note, 144A, 4.125%, 12/1/2031 | &nbsp;&nbsp; 149476 |
| &nbsp;&nbsp; 250000 | Rocket Software, Inc., Sr. Secd. Note, 144A, 9.000%, 11/28/2028 | &nbsp;&nbsp; 249886 |
| &nbsp;&nbsp; 350000 | Rocket Software, Inc., Sr. Unsecd. Note, 144A, 6.500%, 2/15/2029 | &nbsp;&nbsp; 315426 |
| &nbsp;&nbsp; 75000 | Science Applications International Corp., Sr. Unsecd. Note, 144A, 4.875%, 4/1/2028 | &nbsp;&nbsp; 73870 |
| &nbsp;&nbsp; 150000 | Science Applications International Corp., Sr. Unsecd. Note, 144A, 5.875%, 11/1/2033 | &nbsp;&nbsp; 146539 |
| &nbsp;&nbsp; 25000 | Seagate Data Storage Technology Pte. Ltd., Sr. Unsecd. Note, 144A, 5.875%, 7/15/2030 | &nbsp;&nbsp; 25428 |
| &nbsp;&nbsp; 125000 | Seagate Data Storage Technology Pte. Ltd., Sr. Unsecd. Note, 144A, 8.500%, 7/15/2031 | &nbsp;&nbsp; 131156 |
| &nbsp;&nbsp; 181000 | Seagate Data Storage Technology Pte. Ltd., Sr. Unsecd. Note, 144A, 9.625%, 12/1/2032 | &nbsp;&nbsp; 201323 |
| &nbsp;&nbsp; 75000 | Sensata Technologies, Inc., Sr. Unsecd. Note, 144A, 3.750%, 2/15/2031 | &nbsp;&nbsp; 69620 |
| &nbsp;&nbsp; 200000 | Sensata Technologies, Inc., Sr. Unsecd. Note, 144A, 6.625%, 7/15/2032 | &nbsp;&nbsp; 204141 |
| &nbsp;&nbsp; 75000 | Shift4 Payments, Inc., Sr. Unsecd. Note, 144A, 6.750%, 8/15/2032 | &nbsp;&nbsp; 73841 |
| &nbsp;&nbsp; 200000 | SS&C Technologies, Inc., Sr. Unsecd. Note, 144A, 5.500%, 9/30/2027 | &nbsp;&nbsp; 200285 |
| &nbsp;&nbsp; 100000 | SS&C Technologies, Inc., Sr. Unsecd. Note, 144A, 6.500%, 6/1/2032 | &nbsp;&nbsp; 100067 |
| &nbsp;&nbsp; 150000 | SV RNO Property Owner 1 LLC, Secured Note, 144A, 5.875%, 3/1/2031 | &nbsp;&nbsp; 148363 |
| &nbsp;&nbsp; 175000 | TTM Technologies, Inc., Sr. Unsecd. Note, 144A, 4.000%, 3/1/2029 | &nbsp;&nbsp; 168212 |
| &nbsp;&nbsp; 250000 | UKG, Inc., Sr. Secd. Note, 144A, 6.875%, 2/1/2031 | &nbsp;&nbsp; 244543 |
| &nbsp;&nbsp; 250000 | Viavi Solutions, Inc., Sr. Unsecd. Note, 144A, 3.750%, 10/1/2029 | &nbsp;&nbsp; 234780 |
| &nbsp;&nbsp; 250000 | VOLTAGRID LLC, 144A, 7.375%, 11/1/2030 | &nbsp;&nbsp; 258317 |
| &nbsp;&nbsp; 225000 | WULF Compute LLC, Secured Note, 144A, 7.750%, 10/15/2030 | &nbsp;&nbsp; 237896 |
| &nbsp;&nbsp; 75000 | ZipRecruiter, Inc., Sr. Unsecd. Note, 144A, 5.000%, 1/15/2030 | &nbsp;&nbsp; 43387 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp; 10978498 |
|  | **Transportation Services—0.2%** |  |
| &nbsp;&nbsp; 175000 | Watco Cos. LLC/Finance Co., Sr. Unsecd. Note, 144A, 7.125%, 8/1/2032 | &nbsp;&nbsp; 179899 |

---

**9**

------

---

| | | |
|:---|:---|:---|
| **Principal**<br> **Amount**<br> **or Shares**<br>|  | **Value** |
|  | CORPORATE BONDS—continued |  |
|  | **Utility - Electric—2.9%** |  |
| $200000 | Constellation Energy Generation LLC, Sr. Unsecd. Note, 144A, 3.750%, 3/1/2031 | &nbsp;&nbsp; $190909 |
| &nbsp;&nbsp; 25000 | Constellation Energy Generation LLC, Sr. Unsecd. Note, 144A, 4.625%, 2/1/2029 | &nbsp;&nbsp; 24705 |
| &nbsp;&nbsp; 39000 | NRG Energy, Inc., Sr. Unsecd. Note, 144A, 3.875%, 2/15/2032 | &nbsp;&nbsp; 35909 |
| &nbsp;&nbsp; 250000 | NRG Energy, Inc., Sr. Unsecd. Note, 144A, 5.250%, 6/15/2029 | &nbsp;&nbsp; 247651 |
| &nbsp;&nbsp; 50000 | NRG Energy, Inc., Sr. Unsecd. Note, 144A, 5.750%, 1/15/2034 | &nbsp;&nbsp; 49354 |
| &nbsp;&nbsp; 250000 | NRG Energy, Inc., Sr. Unsecd. Note, 144A, 6.000%, 1/15/2036 | &nbsp;&nbsp; 247876 |
| &nbsp;&nbsp; 50000 | TerraForm Power Operating LLC, Sr. Unsecd. Note, 144A, 4.750%, 1/15/2030 | &nbsp;&nbsp; 47915 |
| &nbsp;&nbsp; 300000 | TerraForm Power Operating LLC, Sr. Unsecd. Note, 144A, 5.000%, 1/31/2028 | &nbsp;&nbsp; 296848 |
| &nbsp;&nbsp; 125000 | TransAlta Corp., Sr. Unsecd. Note, 5.875%, 2/1/2034 | &nbsp;&nbsp; 124537 |
| &nbsp;&nbsp; 200000 | Vistra Operations Co., LLC, Sr. Unsecd. Note, 144A, 5.625%, 2/15/2027 | &nbsp;&nbsp; 200090 |
| &nbsp;&nbsp; 250000 | Vistra Operations Co., LLC, Sr. Unsecd. Note, 144A, 7.750%, 10/15/2031 | &nbsp;&nbsp; 261990 |
| &nbsp;&nbsp; 150000 | XPLR Infrastructure Operating Partners, LP, Sr. Unsecd. Note, 144A, 7.250%, 1/15/2029 | &nbsp;&nbsp; 154790 |
| &nbsp;&nbsp; 75000 | XPLR Infrastructure Operating Partners, LP, Sr. Unsecd. Note, 144A, 7.750%, 4/15/2034 | &nbsp;&nbsp; 77506 |
| &nbsp;&nbsp; 50000 | XPLR Infrastructure Operating Partners, LP, Sr. Unsecd. Note, 144A, 8.375%, 1/15/2031 | &nbsp;&nbsp; 52662 |
| &nbsp;&nbsp; 125000 | XPLR Infrastructure Operating Partners, LP, Sr. Unsecd. Note, 144A, 8.625%, 3/15/2033 | &nbsp;&nbsp; 132137 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL | &nbsp;&nbsp;&nbsp; 2144879 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL CORPORATE BONDS <br>(IDENTIFIED COST $72,983,566)<br>| &nbsp;&nbsp; 71598470 |
|  | COMMON STOCKS—0.1% |  |
|  | **Media Entertainment—0.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1050<br><sup>2,3</sup> <br>| Audacy Capital Corp. | &nbsp;&nbsp; 18123 |
|  | **Packaging—0.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7050<br><sup>2,3</sup> <br>| Yeoman Capital S.A. | &nbsp;&nbsp; 56023 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL COMMON STOCKS <br>(IDENTIFIED COST $1,174,747)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 74146 |
|  | WARRANTS—0.0% |  |
|  | **Media Entertainment—0.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1272<br><sup>2,3</sup> <br>| Audacy Capital Corp., Warrants 9/30/2028 | &nbsp;&nbsp; 13 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 212<br><sup>2,3</sup> <br>| Audacy Capital Corp., Warrants 9/30/2028 | &nbsp;&nbsp; 2 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL WARRANTS <br>(IDENTIFIED COST $429)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15 |
|  | REPURCHASE AGREEMENT—2.9% |  |
| $2128000 | Interest in $903,000,000 joint repurchase agreement 3.67%, dated 3/31/2026 under which Bank of America, N.A. will <br> repurchase securities provided as collateral for $903,092,056 on 4/1/2026. The securities provided as collateral at the end of <br> the period held with BNY Mellon as tri-party agent, were U.S. Government Agency securities with various maturities to <br> 8/1/2050 and the market value of those underlying securities was $921,153,897. <br>(IDENTIFIED COST $2,128,000)<br>| &nbsp;&nbsp; 2128000 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TOTAL INVESTMENT IN SECURITIES—99.0% <br>(IDENTIFIED COST $76,286,742)<br>| &nbsp;&nbsp; 73800631 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; OTHER ASSETS AND LIABILITIES - NET—1.0%<sup>4</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 753272 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NET ASSETS—100% | &nbsp;&nbsp; $74553903 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| 1 | *Issuer in default.* |
| 2 | *Market quotations and price evaluations are not available. Fair value determined using significant unobservable inputs in accordance with procedures established* <br> *by and under the general supervision of the Fund's Adviser acting through its Valuation Committee.*<br>|
| 3 | *Non-income-producing security.* |
| 4 | *Assets, other than investments in securities, less liabilities.* |

---

Note: The categories of investments are shown as a percentage of net assets at March 31, 2026.

**Investment Valuation** 

In calculating its net asset value (NAV), the Fund generally values investments as follows:

■ Fixed-income securities are fair valued using price evaluations provided by a pricing service approved by Federated Investment Management Company (the "Adviser").

**10**

------

■ Shares of other mutual funds or non-exchange-traded investment companies are valued based upon their reported NAVs, or NAV per share practical expedient, as applicable.

■ Derivative contracts listed on exchanges are valued at their reported settlement or closing price, except that options are valued at the mean of closing bid and ask quotations.

■ Over-the-counter (OTC) derivative contracts are fair valued using price evaluations provided by a pricing service approved by the Adviser.

■ For securities that are fair valued in accordance with procedures established by and under the general supervision of the Adviser, certain factors may be considered, such as: the last traded or purchase price of the security, information obtained by contacting the issuer or dealers, analysis of the issuer's financial statements or other available documents, fundamental analytical data, the nature and duration of restrictions on disposition, the movement of the market in which the security is normally traded, public trading in similar securities or derivative contracts of the issuer or comparable issuers, movement of a relevant index, or other factors including but not limited to industry changes and relevant government actions.

If any price, quotation, price evaluation or other pricing source is not readily available when the NAV is calculated, if the Fund cannot obtain price evaluations from a pricing service or from more than one dealer for an investment within a reasonable period of time as set forth in the Adviser's valuation policies and procedures for the Fund, or if information furnished by a pricing service, in the opinion of the Adviser's valuation committee ("Valuation Committee"), is deemed not representative of the fair value of such security, the Fund uses the fair value of the investment determined in accordance with the procedures described below. There can be no assurance that the Fund could obtain the fair value assigned to an investment if it sold the investment at approximately the time at which the Fund determines its NAV per share, and the actual value obtained could be materially different.

**Fair Valuation and Significant Events Procedures** 

Pursuant to Rule 2a-5 under the Investment Company Act of 1940, as amended, the Fund's Board of Trustees (the "Trustees") has designated the Adviser as the Fund's valuation designee to perform any fair value determinations for securities and other assets held by the Fund. The Adviser is subject to the Trustees' oversight and certain reporting and other requirements intended to provide the Trustees the information needed to oversee the Adviser's fair value determinations.

The Adviser, acting through its Valuation Committee, is responsible for determining the fair value of investments for which market quotations are not readily available. The Valuation Committee is comprised of officers of the Adviser and certain of the Adviser's affiliated companies and determines fair value and oversees the calculation of the NAV. The Valuation Committee is also authorized to use pricing services to provide fair value evaluations of the current value of certain investments for purposes of calculating the NAV. The Valuation Committee employs various methods for reviewing third-party pricing-service evaluations including periodic reviews of third-party pricing services' policies, procedures and valuation methods (including key inputs, methods, models and assumptions), transactional back-testing, comparisons of evaluations of different pricing services, and review of price challenges by the Adviser based on recent market activity. In the event that market quotations and price evaluations are not available for an investment, the Valuation Committee determines the fair value of the investment in accordance with procedures adopted by the Adviser. The Trustees periodically review the fair valuations made by the Valuation Committee. The Trustees have also approved the Adviser's fair valuation and significant events procedures as part of the Fund's compliance program and will review any changes made to the procedures.

Factors considered by pricing services in evaluating an investment include the yields or prices of investments of comparable quality, coupon, maturity, call rights and other potential prepayments, terms and type, reported transactions, indications as to values from dealers and general market conditions. Some pricing services provide a single price evaluation reflecting the bid-side of the market for an investment (a "bid" evaluation). Other pricing services offer both bid evaluations and price evaluations indicative of a price between the prices bid and ask for the investment (a "mid" evaluation). The Fund normally uses bid evaluations for any U.S. Treasury and Agency securities, mortgage-backed securities and municipal securities. The Fund normally uses mid evaluations for any other types of fixed-income securities and any OTC derivative contracts. In the event that market quotations and price evaluations are not available for an investment, the fair value of the investment is determined in accordance with procedures adopted by the Adviser.

The Adviser has also adopted procedures requiring an investment to be priced at its fair value whenever the Valuation Committee determines that a significant event affecting the value of the investment has occurred between the time as of which the price of the investment would otherwise be determined and the time as of which the NAV is computed. An event is considered significant if there is both an affirmative expectation that the investment's value will change in response to the event and a reasonable basis for quantifying the resulting change in value. Examples of significant events that may occur after the close of the principal market on which a security is traded, or after the time of a price evaluation provided by a pricing service or a dealer, include:

■ With respect to securities traded principally in foreign markets, significant trends in U.S. equity markets or in the trading of foreign securities index futures contracts;

■ Political or other developments affecting the economy or markets in which an issuer conducts its operations or its securities are traded;

■ Announcements concerning matters such as acquisitions, recapitalizations, litigation developments, or a natural disaster affecting the issuer's operations or regulatory changes or market developments affecting the issuer's industry.

The Adviser has adopted procedures whereby the Valuation Committee uses a pricing service to provide factors to update the fair value of equity securities traded principally in foreign markets from the time of the close of their respective foreign stock exchanges to the pricing time of the Fund. For other significant events, the Fund may seek to obtain more current quotations or price evaluations from alternative pricing sources. If a reliable alternative pricing source is not available, the Valuation Committee will determine the fair value of the investment in accordance with the fair valuation procedures approved by the Adviser. The Trustees periodically review fair valuations made in response to significant events.

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

Level 1—quoted prices in active markets for identical securities.

**11**

------

Level 2—other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.). Also includes securities valued at amortized cost.

Level 3—significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments).

The inputs or methodology used for valuing securities are not an indication of the risk associated with investing in those securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>The following is a summary of the inputs used, as of March 31, 2026, in valuing the Fund's assets carried at fair value:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Valuation Inputs** | **Valuation Inputs** | **Valuation Inputs** | **Valuation Inputs** | **Valuation Inputs** |
|  | **Level 1—** <br>**Quoted** <br>**Prices**<br>| **Level 2—** <br>**Other** <br>**Significant** <br>**Observable** <br>**Inputs**<br>| **Level 3—** <br>**Significant** <br>**Unobservable** <br>**Inputs**<br>| **Total** |
| **Debt Securities:** |  |  |  |  |
| Corporate Bonds | &nbsp;&nbsp; $— | &nbsp;&nbsp; $71598470 | &nbsp;&nbsp; $0 | &nbsp;&nbsp; $71598470 |
| **Equity Securities:** |  |  |  |  |
| Common Stocks |  |  |  |  |
| &nbsp;&nbsp; International | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; 56023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 56023 |
| &nbsp;&nbsp; Domestic | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; 18123 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18123 |
| **Warrants** | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15 |
| **Repurchase Agreement** | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2128000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2128000 |
| &nbsp;&nbsp;&nbsp;&nbsp; TOTAL SECURITIES | &nbsp;&nbsp; $— | &nbsp;&nbsp; $73726470 | &nbsp;&nbsp; $74161 | &nbsp;&nbsp; $73800631 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

The following acronym(s) are used throughout this portfolio: <br> PIK —Payment in Kind

**12**

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Federated Hermes Insurance Series

- **b. Investment Company Act file number:** 811-08042

- **c. CIK number of Registrant:** 0000912577

- **d. LEI of Registrant:** 254900PGYAB5I8WZFV72

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

  - **Street Address 1:** Federated Hermes Funds

  - **City:** Warrendale

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 15086-7561

  - **Telephone number:** 8003417400

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

- **a. Name of Series:** Federated Hermes High Income Bond Fund II

- **b. EDGAR series identifier (if any):** S000009749

- **c. LEI of Series:** 254900EZGFTCE96E2T22

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

- **a. Date of fiscal year-end:** 2026-12-31

- **b. Date as of which information is reported:** 2026-03-31

**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:** $77213551.27

**Total Liabilities:** $2593884.70

**Net Assets:** $74619666.57

**Delayed Delivery Securities:** $355637.50

**Cash Not Reported:** $2132997.44

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -13.023168000000 | **1-Year:** -187.066333000000 | **5-Year:** -335.211076000000 | **10-Year:** -14.652210000000 | **30-Year:** 0.000000000000

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

- **3-Month:** -180.462317000000 | **1-Year:** -6248.080481000000 | **5-Year:** -13446.981299000000 | **10-Year:** -2636.752473000000 | **30-Year:** -49.082650000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000026776 | 0.17%                | 0.17%                | -1.22%               |
| Class ID C000026777 | 0.17%                | 0.00%                | -1.20%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-73335.17               | $-161318.31                                |
| Month 2  | $-145845.45              | $-94027.97                                 |
| Month 3  | $-150521.70              | $-1127818.62                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ASBURY AUTOMOTIVE GROUP                 | Asbury Automotive Group Inc                                                     | CUSIP: 043436AW4<br>LEI: 549300JH4DTA7U42GL91 | Long             | DBT              | CORP              | US        |     75000 | PA      | $72552.03     | 0.10%             | 2029-11-15      | Fixed         | 4.63%                 | Yes           |                  2 | On Loan: No      |
| ASHLAND INC                             | Ashland LLC                                                                     | CUSIP: 04433LAA0<br>LEI: 529900E4L9R04SB8HB11 | Long             | DBT              | CORP              | US        |    150000 | PA      | $134818.26    | 0.18%             | 2031-09-01      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| BALL CORP                               | Ball Corp                                                                       | CUSIP: 058498AZ9<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50781.25     | 0.07%             | 2029-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BLUE RACER MID LLC/FINAN                | Blue Racer Midstream LLC / Blue Racer Finance Corp                              | CUSIP: 095796AJ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     75000 | PA      | $77521.88     | 0.10%             | 2029-07-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| CHURCHILL DOWNS INC                     | Churchill Downs Inc                                                             | CUSIP: 12511VAA6<br>LEI: 529900FODTBQC8MIS994 | Long             | DBT              | CORP              | US        |    300000 | PA      | $296837.28    | 0.40%             | 2030-04-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                | CHS/Community Health Systems Inc                                                | CUSIP: 12543DBL3<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |     75000 | PA      | $65293.10     | 0.09%             | 2030-04-01      | Fixed         | 6.13%                 | Yes           |                  2 | On Loan: No      |
| CAPSTONE BORROWER INC                   | Capstone Borrower Inc                                                           | CUSIP: 140944AA7<br>LEI: 254900YSP2BAI3YKIX08 | Long             | DBT              | CORP              | US        |     50000 | PA      | $47821.00     | 0.06%             | 2030-06-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| CARS.COM INC                            | Cars.com Inc                                                                    | CUSIP: 14575EAA3<br>LEI: 5493002G6J07LNGX4M98 | Long             | DBT              | CORP              | US        |    125000 | PA      | $121612.53    | 0.16%             | 2028-11-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| CLEARWATER PAPER CORP                   | Clearwater Paper Corp                                                           | CUSIP: 18538RAJ2<br>LEI: 549300HCVV19GXN4P292 | Long             | DBT              | CORP              | US        |    200000 | PA      | $173225.00    | 0.23%             | 2028-08-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| CONSTELLATION EN GEN LLC                | Constellation Energy Generation LLC                                             | CUSIP: 210385AL4<br>LEI: S2PEWKCZFFECR4533P43 | Long             | DBT              | CORP              | US        |    200000 | PA      | $190908.75    | 0.26%             | 2031-03-01      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| ABC SUPPLY CO INC                       | American Builders & Contractors Supply Co Inc                                   | CUSIP: 024747AG2<br>LEI: 549300H5GQ4C1BEKG397 | Long             | DBT              | CORP              | US        |     25000 | PA      | $23718.10     | 0.03%             | 2029-11-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| ENPRO INC                               | Enpro Inc                                                                       | CUSIP: 29355XAH0<br>LEI: 549300Y5CFT2LKCFDN54 | Long             | DBT              | CORP              | US        |     75000 | PA      | $76047.45     | 0.10%             | 2033-06-01      | Fixed         | 6.13%                 | Yes           |                  2 | On Loan: No      |
| FORVIA SE                               | Forvia SE                                                                       | CUSIP: 31209DAC9<br>LEI: 969500F0VMZLK2IULV85 | Long             | DBT              | CORP              | FR        |    350000 | PA      | $341934.18    | 0.46%             | 2033-09-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| AMWINS GROUP INC                        | AmWINS Group Inc                                                                | CUSIP: 031921AB5<br>LEI: 549300SJE7MUB8NMRG61 | Long             | DBT              | CORP              | US        |    475000 | PA      | $455410.19    | 0.61%             | 2029-06-30      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| ANTERO RESOURCES CORP                   | Antero Resources Corp                                                           | CUSIP: 03674XAS5<br>LEI: APVBKPOULHUX7YZLKU17 | Long             | DBT              | CORP              | US        |     75000 | PA      | $75418.88     | 0.10%             | 2030-03-01      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| ANTERO MIDSTREAM PART/FI                | Antero Midstream Partners LP / Antero Midstream Finance Corp                    | CUSIP: 03690AAN6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $49305.09     | 0.07%             | 2034-07-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| ARDAGH GROUP SA                         | Ardagh Group SA                                                                 | CUSIP: 039959AA9<br>LEI: 6354006L1NWUUOPYX274 | Long             | DBT              | CORP              | LU        |    152000 | PA      | $159495.73    | 0.21%             | 2030-12-01      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| HERC HOLDINGS INC                       | Herc Holdings Inc                                                               | CUSIP: 42704LAK0<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |     50000 | PA      | $48389.19     | 0.06%             | 2034-03-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| HILTON DOMESTIC OPERATIN                | Hilton Domestic Operating Co Inc                                                | CUSIP: 432833AS0<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |    125000 | PA      | $124534.38    | 0.17%             | 2033-09-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| ASCENT RESOURCES/ARU FIN                | Ascent Resources Utica Holdings LLC / ARU Finance Corp                          | CUSIP: 04364VAK9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     75000 | PA      | $87825.38     | 0.12%             | 2027-11-01      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| Bank of America Corp.                   | REPO BANK AMERICA                                                               | CUSIP: 000000000<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | RA               | CORP              | US        |   2128000 | PA      | $2128000.00   | 2.85%             |  |  |  | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                | CHS/Community Health Systems Inc                                                | CUSIP: 12543DBQ2<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |    150000 | PA      | $155867.72    | 0.21%             | 2034-01-15      | Fixed         | 9.75%                 | Yes           |                  2 | On Loan: No      |
| CNX MIDSTREAM PART LP                   | CNX Midstream Partners LP                                                       | CUSIP: 12654AAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    325000 | PA      | $309212.02    | 0.41%             | 2030-04-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| CACI INTERNATIONAL INC                  | CACI International Inc                                                          | CUSIP: 127190AE6<br>LEI: SYRPI2D1O9WRTS2WX210 | Long             | DBT              | CORP              | US        |    175000 | PA      | $178257.80    | 0.24%             | 2033-06-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| CARNIVAL CORP                           | Carnival Corp                                                                   | CUSIP: 143658CA8<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |     50000 | PA      | $50046.24     | 0.07%             | 2032-08-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| JB POINDEXTER & CO INC                  | JB Poindexter & Co Inc                                                          | CUSIP: 465965AC5<br>LEI: 549300W6P81HOZZGPQ16 | Long             | DBT              | CORP              | US        |    275000 | PA      | $279075.50    | 0.37%             | 2031-12-15      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| MCAFEE CORP                             | Condor Merger Sub Inc                                                           | CUSIP: 579063AB4<br>LEI: 2549009UKR8UEZYVCR93 | Long             | DBT              | CORP              | US        |    675000 | PA      | $558418.25    | 0.75%             | 2030-02-15      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| 1261229 BC LTD                          | 1261229 BC Ltd                                                                  | CUSIP: 68288AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    525000 | PA      | $537961.73    | 0.72%             | 2032-04-15      | Fixed         | 10.00%                | Yes           |                  2 | On Loan: No      |
| SV RNO PROPERTY OWNER 1                 | SV RNO Property Owner 1 LLC                                                     | CUSIP: 78488XAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $148363.13    | 0.20%             | 2031-03-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| ACADEMY LTD                             | Academy Ltd                                                                     | CUSIP: 00401YAA8<br>LEI: 549300BN53IR80C35Z14 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100377.40    | 0.13%             | 2027-11-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| ARD FINANCE SA                          | ARD Finance SA                                                                  | CUSIP: 00191AAD8<br>LEI: 6354006P6QPGGPVJW880 | Long             | DBT              | CORP              | LU        |         1 | PA      | $0.01         | 0.00%             | 2027-06-30      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| CARPENTER TECHNOLOGY                    | Carpenter Technology Corp                                                       | CUSIP: 144285AN3<br>LEI: DX6I6ZD3X5WNNCDJKP85 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49601.95     | 0.07%             | 2034-03-01      | Fixed         | 5.63%                 | Yes           |                  2 | On Loan: No      |
| CELANESE US HOLDINGS LLC                | Celanese US Holdings LLC                                                        | CUSIP: 15089QBC7<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |    125000 | PA      | $128444.88    | 0.17%             | 2031-02-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP/US FIN                | Clarios Global LP / Clarios US Finance Co                                       | CUSIP: 18060TAE5<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    475000 | PA      | $479099.25    | 0.64%             | 2032-09-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| CLEVELAND-CLIFFS INC                    | Cleveland-Cliffs Inc                                                            | CUSIP: 185899AP6<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |    200000 | PA      | $193760.46    | 0.26%             | 2032-03-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| CONCENTRA HEALTH SERVICE                | Concentra Escrow Issuer Corp                                                    | CUSIP: 20600DAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $258778.50    | 0.35%             | 2032-07-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| DORNOCH DEBT MERGER SUB                 | Dornoch Debt Merger Sub Inc                                                     | CUSIP: 25830JAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    275000 | PA      | $245775.17    | 0.33%             | 2029-10-15      | Fixed         | 6.63%                 | Yes           |                  2 | On Loan: No      |
| FRONERI LUX FINCO SARL                  | Froneri Lux FinCo SARL                                                          | CUSIP: 35901MAA5<br>LEI: 9845005YBZ75E5AA3B94 | Long             | DBT              | CORP              | LU        |    450000 | PA      | $439187.76    | 0.59%             | 2032-08-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| HILTON DOMESTIC OPERATIN                | Hilton Domestic Operating Co Inc                                                | CUSIP: 432833AF8<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |    175000 | PA      | $172453.59    | 0.23%             | 2030-01-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| ILLUMINATE BUYER/HLDG                   | Illuminate Buyer LLC / Illuminate Holdings IV Inc                               | CUSIP: 45232TAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     53000 | PA      | $53095.29     | 0.07%             | 2028-07-01      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| LCM INVESTMENTS HOLDINGS                | LCM Investments Holdings II LLC                                                 | CUSIP: 50190EAC8<br>LEI: 549300P5V78NNQTG4428 | Long             | DBT              | CORP              | US        |    100000 | PA      | $104176.50    | 0.14%             | 2031-08-01      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| SALLY HOLDINGS/SALLY CAP                | Sally Holdings LLC / Sally Capital Inc                                          | CUSIP: 79546VAQ9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    175000 | PA      | $179244.28    | 0.24%             | 2032-04-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| STANDARD BUILDING SOLUTI                | Standard Building Solutions Inc                                                 | CUSIP: 853191AC8<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |    250000 | PA      | $247428.87    | 0.33%             | 2033-08-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| ALLIANT HOLD / CO-ISSUER                | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                  | CUSIP: 01883LAH6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $198340.24    | 0.27%             | 2032-10-01      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| AMENTUM HOLDINGS INC                    | Amentum Escrow Corp                                                             | CUSIP: 02352BAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $258941.25    | 0.35%             | 2032-08-01      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| TTM TECHNOLOGIES INC                    | TTM Technologies Inc                                                            | CUSIP: 87305RAK5<br>LEI: 549300SC4BDOIS008048 | Long             | DBT              | CORP              | US        |    175000 | PA      | $168211.60    | 0.23%             | 2029-03-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| TRANSDIGM INC                           | TransDigm Inc                                                                   | CUSIP: 893647CA3<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    125000 | PA      | $126731.88    | 0.17%             | 2034-01-31      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| ACUSHNET CO                             | Acushnet Co                                                                     | CUSIP: 005095AB0<br>LEI: 549300H805O14KEFES79 | Long             | DBT              | CORP              | US        |     75000 | PA      | $74607.14     | 0.10%             | 2033-12-01      | Fixed         | 5.63%                 | Yes           |                  2 | On Loan: No      |
| ALBERTSONS COS/SAFEWAY                  | Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC           | CUSIP: 01309QAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $50375.25     | 0.07%             | 2033-03-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| ALLIED UNIVERSAL                        | Allied Universal Holdco LLC / Allied Universal Finance Corp                     | CUSIP: 019576AC1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $193454.36    | 0.26%             | 2029-06-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| AMNEAL PHARMACEUTICALS L                | Amneal Pharmaceuticals LLC                                                      | CUSIP: 03168LAA3<br>LEI: 54930037VIXE7LRZ1M66 | Long             | DBT              | CORP              | US        |     50000 | PA      | $51534.90     | 0.07%             | 2032-08-01      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| WESTERN MIDSTREAM OPERAT                | Aris Water Holdings LLC                                                         | CUSIP: 04041NAA0<br>LEI: 5493007AWQW8ZKCHVV46 | Long             | DBT              | CORP              | US        |     75000 | PA      | $79015.65     | 0.11%             | 2030-04-01      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| ASCENT RESOURCES/ARU FIN                | Ascent Resources Utica Holdings LLC / ARU Finance Corp                          | CUSIP: 04364VBA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     75000 | PA      | $76337.40     | 0.10%             | 2033-07-15      | Fixed         | 6.63%                 | Yes           |                  2 | On Loan: No      |
| ASURION LLC/ASURION CO                  | Asurion LLC and Asurion Co-Issuer Inc                                           | CUSIP: 045941AA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $103828.80    | 0.14%             | 2032-12-31      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| AXALTA COATING SYSTEMS D                | Axalta Coating Systems Dutch Holding B BV                                       | CUSIP: 05455JAA5<br>LEI: 5493007DMEBZH3CQ5E51 | Long             | DBT              | CORP              | NL        |    150000 | PA      | $157045.10    | 0.21%             | 2031-02-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| BAUSCH HEALTH COS INC                   | Bausch Health Cos Inc                                                           | CUSIP: 071734AM9<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |     75000 | PA      | $54710.25     | 0.07%             | 2029-02-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| BELRON UK FINANCE PLC                   | Belron UK Finance PLC                                                           | CUSIP: 080782AA3<br>LEI: 9845006BC9D1A77B8178 | Long             | DBT              | CORP              | GB        |    300000 | PA      | $302089.50    | 0.40%             | 2029-10-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| BOYD GAMING CORP                        | Boyd Gaming Corp                                                                | CUSIP: 103304BU4<br>LEI: 254900787YGRYS2A1Z35 | Long             | DBT              | CORP              | US        |    125000 | PA      | $123769.78    | 0.17%             | 2027-12-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| BRINK'S CO/THE                          | Brink's Co/The                                                                  | CUSIP: 109696AC8<br>LEI: XFP140TFNOQMIVFTVQ13 | Long             | DBT              | CORP              | US        |    125000 | PA      | $127020.13    | 0.17%             | 2029-06-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| LSF12 HELIX PARENT LLC                  | Lsf12 Helix Parent LLC                                                          | CUSIP: 548916AA3<br>LEI: 254900H70V4IL22BHL88 | Long             | DBT              | CORP              | US        |    150000 | PA      | $144735.92    | 0.19%             | 2033-02-01      | Fixed         | 7.13%                 | Yes           |                  2 | On Loan: No      |
| MIWD HLDCO II/MIWD FIN                  | MIWD Holdco II LLC / MIWD Finance Corp                                          | CUSIP: 55337PAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     25000 | PA      | $21619.68     | 0.03%             | 2030-02-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| MADISON IAQ LLC                         | Madison IAQ LLC                                                                 | CUSIP: 55760LAB3<br>LEI: 549300IXDNBXNHUPBU73 | Long             | DBT              | CORP              | US        |    575000 | PA      | $564267.40    | 0.76%             | 2029-06-30      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| DISCOVERY HOLDINGS INC                  | Warnermedia Holdings Inc                                                        | CUSIP: 55903VBW2<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |    375000 | PA      | $247989.65    | 0.33%             | 2042-03-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| ACRISURE LLC / FIN INC                  | Acrisure LLC / Acrisure Finance Inc                                             | CUSIP: 004961AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $48229.66     | 0.06%             | 2032-07-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| AMYNTA AGENCY/WARRANTY                  | Amynta Agency Borrower Inc and Amynta Warranty Borrower Inc                     | CUSIP: 03238AAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    425000 | PA      | $403500.27    | 0.54%             | 2033-07-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| APLD COMPUTECO 2 LLC                    | APLD ComputeCo 2 LLC                                                            | CUSIP: 03772CAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $49666.96     | 0.07%             | 2031-03-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| ALLIANT HOLD / CO-ISSUER                | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                  | CUSIP: 01883LAF0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $201804.41    | 0.27%             | 2031-01-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| ALLIED UNIVERSAL HOLDCO                 | Allied Universal Holdco LLC                                                     | CUSIP: 019576AD9<br>LEI: 98450038B4549046D794 | Long             | DBT              | CORP              | US        |    300000 | PA      | $309565.50    | 0.41%             | 2031-02-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| ARCHROCK SERVICES/PARTNE                | Archrock Services LP / Archrock Partners Finance Corp                           | CUSIP: 03958CAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $99080.81     | 0.13%             | 2034-02-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| TRIVIUM PACKAGING FIN                   | Trivium Packaging Finance BV                                                    | CUSIP: 89686QAC0<br>LEI: 724500GMZWW3PVYET548 | Long             | DBT              | CORP              | NL        |    325000 | PA      | $352133.93    | 0.47%             | 2031-01-15      | Fixed         | 12.25%                | Yes           |                  2 | On Loan: No      |
| ARDAGH METAL PACKAGING                  | Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC     | CUSIP: 03969YAD0<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    200000 | PA      | $198443.58    | 0.27%             | 2031-01-30      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| ASCENT RESOURCES/ARU FIN                | Ascent Resources Utica Holdings LLC / ARU Finance Corp                          | CUSIP: 04364VAU7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    125000 | PA      | $124952.39    | 0.17%             | 2029-06-30      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| ADIENT GLOBAL HOLDINGS                  | Adient Global Holdings Ltd                                                      | CUSIP: 00687YAC9<br>LEI: 213800VA38VCKE6M8790 | Long             | DBT              | CORP              | JE        |    100000 | PA      | $103790.90    | 0.14%             | 2031-04-15      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| ADIENT GLOBAL HOLDINGS                  | ADIENT GLOBAL HOLDINGS LTD                                                      | CUSIP: 00687YAD7<br>LEI: 213800VA38VCKE6M8790 | Long             | DBT              | CORP              | JE        |    150000 | PA      | $151770.00    | 0.20%             | 2033-02-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| BRINK'S CO/THE                          | Brink's Co/The                                                                  | CUSIP: 109696AD6<br>LEI: XFP140TFNOQMIVFTVQ13 | Long             | DBT              | CORP              | US        |    150000 | PA      | $151972.65    | 0.20%             | 2032-06-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| BROADSTREET PARTNERS GRP                | BroadStreet Partners Inc                                                        | CUSIP: 11135RAA3<br>LEI: 549300BS9N54G8DD0R75 | Long             | DBT              | CORP              | US        |    650000 | PA      | $634102.43    | 0.85%             | 2029-04-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                  | CCO Holdings LLC / CCO Holdings Capital Corp                                    | CUSIP: 1248EPCD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    700000 | PA      | $664652.92    | 0.89%             | 2030-03-01      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                  | CCO Holdings LLC / CCO Holdings Capital Corp                                    | CUSIP: 1248EPCP6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $85642.36     | 0.11%             | 2034-01-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| ARCHROCK PARTNERS LP/FIN                | Archrock Partners LP / Archrock Partners Finance Corp                           | CUSIP: 03959KAC4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $200000.00    | 0.27%             | 2028-04-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| ARDONAGH GROUP FINANCE                  | Ardonagh Group Finance Ltd                                                      | CUSIP: 039956AA5<br>LEI: 254900SRT1BTAJ76NW62 | Long             | DBT              | CORP              | JE        |    850000 | PA      | $833643.85    | 1.12%             | 2032-02-15      | Fixed         | 8.88%                 | Yes           |                  2 | On Loan: No      |
| 1011778 BC / NEW RED FIN                | 1011778 BC ULC / New Red Finance Inc                                            | CUSIP: 68245XAT6<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |     75000 | PA      | $75257.10     | 0.10%             | 2029-09-15      | Fixed         | 5.63%                 | Yes           |                  2 | On Loan: No      |
| PRECISION DRILLING CORP                 | Precision Drilling Corp                                                         | CUSIP: 740212AM7<br>LEI: 549300WF2OE8T5BP4B84 | Long             | DBT              | CORP              | CA        |    100000 | PA      | $100798.60    | 0.14%             | 2029-01-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                | CHS/Community Health Systems Inc                                                | CUSIP: 12543DBJ8<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |     50000 | PA      | $48133.39     | 0.06%             | 2029-04-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                        | CSC Holdings LLC                                                                | CUSIP: 126307BH9<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    300000 | PA      | $178319.58    | 0.24%             | 2031-11-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| BAUSCH HEALTH COS INC                   | Bausch Health Cos Inc                                                           | CUSIP: 071734AL1<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |    100000 | PA      | $61000.00     | 0.08%             | 2031-02-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| CHAMP ACQUISITION CORP                  | Champ Acquisition Corp                                                          | CUSIP: 15807XAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    275000 | PA      | $288922.98    | 0.39%             | 2031-12-01      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| CNX RESOURCES CORP                      | CNX Resources Corp                                                              | CUSIP: 12653CAL2<br>LEI: 549300JK3KH8PWM3B226 | Long             | DBT              | CORP              | US        |    150000 | PA      | $154662.15    | 0.21%             | 2032-03-01      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| CIPHER COMPUTE LLC                      | Cipher Compute LLC                                                              | CUSIP: 17253NAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    175000 | PA      | $181523.83    | 0.24%             | 2030-11-15      | Fixed         | 7.13%                 | Yes           |                  2 | On Loan: No      |
| SM ENERGY CO                            | Civitas Resources Inc                                                           | CUSIP: 17888HAC7<br>LEI: IIVIHPH28S64K95M2381 | Long             | DBT              | CORP              | US        |     50000 | PA      | $52784.05     | 0.07%             | 2030-11-01      | Fixed         | 8.63%                 | Yes           |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP/US FIN                | Clarios Global LP / Clarios US Finance Co                                       | CUSIP: 18060TAD7<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |     50000 | PA      | $51160.25     | 0.07%             | 2030-02-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| CLEAN HARBORS INC                       | Clean Harbors Inc                                                               | CUSIP: 184496AR8<br>LEI: 5493000SJVZVZJKHJF48 | Long             | DBT              | CORP              | US        |    150000 | PA      | $149787.09    | 0.20%             | 2033-10-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| COEUR MINING INC                        | Coeur Mining Inc                                                                | CUSIP: 192108BC1<br>LEI: 5493003AVK173D48DR70 | Long             | DBT              | CORP              | US        |    275000 | PA      | $272516.50    | 0.37%             | 2029-02-15      | Fixed         | 5.13%                 | Yes           |                  2 | On Loan: No      |
| CLARIV SCI HLD CORP                     | Clarivate Science Holdings Corp                                                 | CUSIP: 18064PAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    400000 | PA      | $347564.44    | 0.47%             | 2029-07-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP INC                  | Cloud Software Group Inc                                                        | CUSIP: 18912UAA0<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |    325000 | PA      | $313829.30    | 0.42%             | 2029-09-30      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| COMSTOCK RESOURCES INC                  | Comstock Resources Inc                                                          | CUSIP: 205768AU8<br>LEI: I03QQGEA4SS774AURI46 | Long             | DBT              | CORP              | US        |    125000 | PA      | $123631.35    | 0.17%             | 2029-03-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| COREWEAVE INC                           | CoreWeave Inc                                                                   | CUSIP: 21873SAC2<br>LEI: 984500511DP2B6186053 | Long             | DBT              | CORP              | US        |     50000 | PA      | $47638.45     | 0.06%             | 2031-02-01      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP INC                  | Cloud Software Group Inc                                                        | CUSIP: 18912UAG7<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |    100000 | PA      | $88997.97     | 0.12%             | 2033-08-15      | Fixed         | 6.63%                 | Yes           |                  2 | On Loan: No      |
| CLYDESDALE ACQUISITION                  | Clydesdale Acquisition Holdings Inc                                             | CUSIP: 18972EAB1<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |    100000 | PA      | $93395.39     | 0.13%             | 2030-04-15      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| CONSENSUS CLOUD SOLUTION                | Consensus Cloud Solutions Inc                                                   | CUSIP: 20848VAB1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    225000 | PA      | $223079.76    | 0.30%             | 2028-10-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| CONSTELLATION EN GEN LLC                | Constellation Energy Generation LLC                                             | CUSIP: 210385AG5<br>LEI: S2PEWKCZFFECR4533P43 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24704.98     | 0.03%             | 2029-02-01      | Fixed         | 4.63%                 | Yes           |                  2 | On Loan: No      |
| COREWEAVE INC                           | CoreWeave Inc                                                                   | CUSIP: 21873SAB4<br>LEI: 984500511DP2B6186053 | Long             | DBT              | CORP              | US        |    150000 | PA      | $145892.16    | 0.20%             | 2030-06-01      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| CYPRIUM CORP/CYPRIUM HOL                | Cyprium Corp / Cyprium Holdings Luxembourg Sarl                                 | CUSIP: 23292NAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    150000 | PA      | $145971.30    | 0.20%             | 2034-04-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| HEALTHEQUITY INC                        | HealthEquity Inc                                                                | CUSIP: 42226AAA5<br>LEI: 529900LRJU1RAFQHM467 | Long             | DBT              | CORP              | US        |    225000 | PA      | $217965.80    | 0.29%             | 2029-10-01      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| NCL CORPORATION LTD                     | NCL Corp Ltd                                                                    | CUSIP: 62886HBR1<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |    200000 | PA      | $198628.54    | 0.27%             | 2032-02-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| AUDACY INC                              | AUDACY INC                                                                      | CUSIP: 05070N301<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1050 | NS      | $18123.00     | 0.02%             |  |  |  | No            |                  3 | On Loan: No      |
| BELLRING BRANDS INC                     | BellRing Brands Inc                                                             | CUSIP: 07831CAA1<br>LEI: 549300S3BOK5CMTS8054 | Long             | DBT              | CORP              | US        |    300000 | PA      | $300298.50    | 0.40%             | 2030-03-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| DT MIDSTREAM INC                        | DT Midstream Inc                                                                | CUSIP: 23345MAB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $192850.91    | 0.26%             | 2031-06-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| DBR LAND HOLDINGS LLC                   | DBR Land Holdings LLC                                                           | CUSIP: 24024BAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     75000 | PA      | $75984.00     | 0.10%             | 2030-12-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| CNX RESOURCES CORP                      | CNX Resources Corp                                                              | CUSIP: 12653CAM0<br>LEI: 549300JK3KH8PWM3B226 | Long             | DBT              | CORP              | US        |    100000 | PA      | $97458.66     | 0.13%             | 2034-03-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| CAESARS ENTERTAIN INC                   | Caesars Entertainment Inc                                                       | CUSIP: 12769GAC4<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49457.91     | 0.07%             | 2032-02-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| FORTRESS INTERMEDIATE                   | Fortress Intermediate 3 Inc                                                     | CUSIP: 34966MAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    400000 | PA      | $398039.40    | 0.53%             | 2031-06-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| GATES CORPORATION/DE                    | Gates Corp/The                                                                  | CUSIP: 367398AA2<br>LEI: 984500F43C791F4C7894 | Long             | DBT              | CORP              | US        |    375000 | PA      | $385233.38    | 0.52%             | 2029-07-01      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| GOAT HOLDCO LLC                         | Goat Holdco LLC                                                                 | CUSIP: 38021MAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $251748.50    | 0.34%             | 2032-02-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| GRAPHIC PACKAGING INTERN                | Graphic Packaging International LLC                                             | CUSIP: 38869AAD9<br>LEI: SO75N4VY5NXGQSK8YQ65 | Long             | DBT              | CORP              | US        |     25000 | PA      | $22965.40     | 0.03%             | 2030-02-01      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| GRAY MEDIA INC                          | Gray Escrow II Inc                                                              | CUSIP: 389286AA3<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |     75000 | PA      | $55750.88     | 0.07%             | 2031-11-15      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| HERC HOLDINGS INC                       | Herc Holdings Inc                                                               | CUSIP: 42704LAG9<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |    100000 | PA      | $102559.20    | 0.14%             | 2033-06-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| HESS MIDSTREAM OPERATION                | Hess Midstream Operations LP                                                    | CUSIP: 428102AF4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $99257.11     | 0.13%             | 2030-10-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                       | Iron Mountain Inc                                                               | CUSIP: 46284VAP6<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              |  | US        |    200000 | PA      | $203976.20    | 0.27%             | 2029-02-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| NCL CORPORATION LTD                     | NCL Corp Ltd                                                                    | CUSIP: 62886HBY6<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |     25000 | PA      | $24304.15     | 0.03%             | 2031-01-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| NRG ENERGY INC                          | NRG Energy Inc                                                                  | CUSIP: 629377DC3<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49354.22     | 0.07%             | 2034-01-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                       | Iron Mountain Inc                                                               | CUSIP: 46284VAQ4<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              |  | US        |    200000 | PA      | $199520.46    | 0.27%             | 2033-01-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| KIOXIA HOLDINGS CORP                    | Kioxia Holdings Corp                                                            | CUSIP: 49726JAB4<br>LEI: 35380080RTKRARNH4R73 | Long             | DBT              | CORP              | JP        |    275000 | PA      | $282899.33    | 0.38%             | 2033-07-24      | Fixed         | 6.63%                 | Yes           |                  2 | On Loan: No      |
| OLYMPUS WTR US HLDG CORP                | Olympus Water US Holding Corp                                                   | CUSIP: 681639AA8<br>LEI: 549300YU2GGVCBN3MY89 | Long             | DBT              | CORP              | US        |    275000 | PA      | $262862.13    | 0.35%             | 2028-10-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| OPEN TEXT INC                           | Open Text Holdings Inc                                                          | CUSIP: 683720AC0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    175000 | PA      | $149476.41    | 0.20%             | 2031-12-01      | Fixed         | 4.13%                 | Yes           |                  2 | On Loan: No      |
| KODIAK GAS SERVICES LLC                 | Kodiak Gas Services LLC                                                         | CUSIP: 50012LAF1<br>LEI: 549300ZQBRWEUOVOM131 | Long             | DBT              | CORP              | US        |     75000 | PA      | $75417.93     | 0.10%             | 2031-04-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| LAMAR MEDIA CORP                        | Lamar Media Corp                                                                | CUSIP: 513075BW0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $98882.13     | 0.13%             | 2029-01-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| SEAWORLD PARKS & ENTERTA                | SeaWorld Parks & Entertainment Inc                                              | CUSIP: 81282UAG7<br>LEI: 549300UZV72O3371JJ53 | Long             | DBT              | CORP              | US        |    100000 | PA      | $95573.92     | 0.13%             | 2029-08-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| STATION CASINOS LLC                     | Station Casinos LLC                                                             | CUSIP: 857691AH2<br>LEI: 5493004E7Q60TX54WL62 | Long             | DBT              | CORP              | US        |    125000 | PA      | $116836.25    | 0.16%             | 2031-12-01      | Fixed         | 4.63%                 | Yes           |                  2 | On Loan: No      |
| MASTERBRAND INC                         | Masterbrand Inc                                                                 | CUSIP: 57638PAA2<br>LEI: 549300E0Y4BR5Z9RDZ64 | Long             | DBT              | CORP              | US        |    250000 | PA      | $244465.83    | 0.33%             | 2032-07-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| MATCH GROUP HLD II LLC                  | Match Group Inc                                                                 | CUSIP: 57665RAL0<br>LEI: 5493003RFFE030RC9167 | Long             | DBT              | CORP              | US        |    450000 | PA      | $417436.36    | 0.56%             | 2030-08-01      | Fixed         | 4.13%                 | Yes           |                  2 | On Loan: No      |
| MAUSER PACKAGING SOLUT                  | Mauser Packaging Solutions Holding Co                                           | CUSIP: 57763RAF4<br>LEI: 549300DNGHXL0OMHW304 | Long             | DBT              | CORP              | US        |    100000 | PA      | $92997.78     | 0.12%             | 2030-04-15      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| MAXAM PRILL SARL                        | Maxam Prill Sarl                                                                | CUSIP: 57779MAA8<br>LEI: 984500C4C5B820A6B691 | Long             | DBT              | CORP              | LU        |    325000 | PA      | $331325.48    | 0.44%             | 2030-07-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| MILLENNIUM ESCROW CORP                  | Millennium Escrow Corp                                                          | CUSIP: 60041CAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $93615.44     | 0.13%             | 2026-08-01      | Fixed         | 6.63%                 | Yes           |                  2 | On Loan: No      |
| ATHENAHEALTH GROUP INC                  | Minerva Merger Sub Inc                                                          | CUSIP: 60337JAA4<br>LEI: 254900AA3KZN4Q7A5Z33 | Long             | DBT              | CORP              | US        |    350000 | PA      | $328892.80    | 0.44%             | 2030-02-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| ALBERTSONS COS/SAFEWAY                  | Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC           | CUSIP: 013092AG6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $286338.03    | 0.38%             | 2029-03-15      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| ALLIED UNIVERSAL                        | Allied Universal Holdco LLC / Allied Universal Finance Corp                     | CUSIP: 019576AF4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     75000 | PA      | $76083.90     | 0.10%             | 2030-06-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| MITER BRAND / MIWD BORR                 | Miter Brands Acquisition Holdco Inc / MIWD Borrower LLC                         | CUSIP: 60672JAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $287513.46    | 0.39%             | 2032-04-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| NCL FINANCE LTD                         | NCL Finance Ltd                                                                 | CUSIP: 62888HAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |     50000 | PA      | $50454.35     | 0.07%             | 2028-03-15      | Fixed         | 6.13%                 | Yes           |                  2 | On Loan: No      |
| NRG ENERGY INC                          | NRG Energy Inc                                                                  | CUSIP: 629377DD1<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    250000 | PA      | $247875.53    | 0.33%             | 2036-01-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| XPLR INFRAST OPERATING                  | NextEra Energy Operating Partners LP                                            | CUSIP: 65342QAM4<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |    150000 | PA      | $154790.40    | 0.21%             | 2029-01-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| ANTERO MIDSTREAM PART/FI                | Antero Midstream Partners LP / Antero Midstream Finance Corp                    | CUSIP: 03690AAM8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $49479.81     | 0.07%             | 2033-10-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| ASBURY AUTOMOTIVE GROUP                 | Asbury Automotive Group Inc                                                     | CUSIP: 043436AX2<br>LEI: 549300JH4DTA7U42GL91 | Long             | DBT              | CORP              | US        |    250000 | PA      | $236976.78    | 0.32%             | 2032-02-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| QUIKRETE HOLDINGS INC                   | Quikrete Holdings Inc                                                           | CUSIP: 74843PAA8<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |    200000 | PA      | $202950.60    | 0.27%             | 2032-03-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| QUIKRETE HOLDINGS INC                   | Quikrete Holdings Inc                                                           | CUSIP: 74843PAB6<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101641.50    | 0.14%             | 2033-03-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| CARNIVAL CORP                           | Carnival Corp                                                                   | CUSIP: 143658BY7<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    175000 | PA      | $176483.48    | 0.24%             | 2030-03-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| CARNIVAL CORP                           | Carnival Corp                                                                   | CUSIP: 143658CB6<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |     50000 | PA      | $49660.33     | 0.07%             | 2029-05-01      | Fixed         | 5.13%                 | Yes           |                  2 | On Loan: No      |
| CLEVELAND-CLIFFS INC                    | Cleveland-Cliffs Inc                                                            | CUSIP: 185899AS0<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24959.56     | 0.03%             | 2031-09-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| COMSTOCK RESOURCES INC                  | Comstock Resources Inc                                                          | CUSIP: 205768AS3<br>LEI: I03QQGEA4SS774AURI46 | Long             | DBT              | CORP              | US        |    175000 | PA      | $172869.87    | 0.23%             | 2029-03-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| RHP HOTEL PPTY/RHP FINAN                | RHP Hotel Properties LP / RHP Finance Corp                                      | CUSIP: 749571AK1<br>LEI: N/A                  | Long             | DBT              |  | US        |    275000 | PA      | $280181.28    | 0.38%             | 2032-04-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| RYAN SPECIALTY GROUP                    | Ryan Specialty Group LLC                                                        | CUSIP: 78351MAA0<br>LEI: 549300K52N7QBO3PYY45 | Long             | DBT              | CORP              | US        |     75000 | PA      | $72751.57     | 0.10%             | 2030-02-01      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                   | Tenet Healthcare Corp                                                           | CUSIP: 88033GDU1<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    150000 | PA      | $153409.20    | 0.21%             | 2031-05-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| UNITED RENTALS NORTH AM                 | United Rentals North America Inc                                                | CUSIP: 911365BP8<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |    175000 | PA      | $160610.31    | 0.22%             | 2032-01-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| SM ENERGY CO                            | SM Energy Co                                                                    | CUSIP: 78454LAN0<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100116.00    | 0.13%             | 2026-09-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| SS&C TECHNOLOGIES INC                   | SS&C Technologies Inc                                                           | CUSIP: 78466CAD8<br>LEI: 549300KY09TR3J12JU49 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100066.90    | 0.13%             | 2032-06-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| OAK-EAGLE ACQUIRECO INC                 | OAK-Eagle Acquireco Inc                                                         | CUSIP: 67124CAA1<br>LEI: 6488ICS9P20290MA1H31 | Long             | DBT              | CORP              | US        |    150000 | PA      | $155511.66    | 0.21%             | 2033-07-01      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| OAK-EAGLE ACQUIRECO INC                 | OAK-Eagle Acquireco Inc                                                         | CUSIP: 67124CAB9<br>LEI: 6488ICS9P20290MA1H31 | Long             | DBT              | CORP              | US        |    300000 | PA      | $314264.00    | 0.42%             | 2034-07-01      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| PARAMOUNT GLOBAL                        | Paramount Global                                                                | CUSIP: 925524AX8<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |    100000 | PA      | $87771.68     | 0.12%             | 2036-04-30      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| AUDACY CAPITAL                          | AUDACY CAPITAL                                                                  | CUSIP: 000000000<br>LEI: 549300S5JUSXRHNCHD80 | N/A              | DE               |  | US        |       212 | NS      | $2.12         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| BEACH ACQUISITION BIDCO                 | Beach Acquisition Bidco LLC                                                     | CUSIP: 07337JAC1<br>LEI: 254900F2FNX3GBTB6202 | Long             | DBT              | CORP              | US        |    608780 | PA      | $648802.60    | 0.87%             | 2033-07-15      | Fixed         | 10.00%                | Yes           |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                  | CCO Holdings LLC / CCO Holdings Capital Corp                                    | CUSIP: 1248EPCB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $197374.54    | 0.26%             | 2029-06-01      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| CYPRIUM CORP/CYPRIUM HOL                | Cyprium Corp / Cyprium Holdings Luxembourg Sarl                                 | CUSIP: 23292NAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |     75000 | PA      | $74123.81     | 0.10%             | 2031-04-15      | Fixed         | 6.13%                 | Yes           |                  2 | On Loan: No      |
| H.B. FULLER CO                          | HB Fuller Co                                                                    | CUSIP: 40410KAA3<br>LEI: JSMX3Z5FOYM8V0Q52357 | Long             | DBT              | CORP              | US        |    175000 | PA      | $169127.28    | 0.23%             | 2028-10-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| HILTON DOMESTIC OPERATIN                | Hilton Domestic Operating Co Inc                                                | CUSIP: 432833AT8<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |     50000 | PA      | $48888.10     | 0.07%             | 2034-03-31      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| INSTALLED BUILDING PRODU                | Installed Building Products Inc                                                 | CUSIP: 45780RAB7<br>LEI: 549300I95Y9P9YM5FI86 | Long             | DBT              | CORP              | US        |     50000 | PA      | $48914.80     | 0.07%             | 2034-02-01      | Fixed         | 5.63%                 | Yes           |                  2 | On Loan: No      |
| SNF GROUP SACA                          | SPCM SA                                                                         | CUSIP: 7846ELAE7<br>LEI: 969500F7036FEDYPRV54 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $185133.50    | 0.25%             | 2030-03-15      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| SEAGATE DATA STOR                       | Seagate Data Storage Technology Pte Ltd                                         | CUSIP: 81180LAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | SG        |     25000 | PA      | $25427.75     | 0.03%             | 2030-07-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                  | CCO Holdings LLC / CCO Holdings Capital Corp                                    | CUSIP: 1248EPCK7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    125000 | PA      | $114010.58    | 0.15%             | 2031-02-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| CP ATLAS BUYER INC                      | CP Atlas Buyer Inc                                                              | CUSIP: 12597YAC3<br>LEI: 2549006ZZ07G0NDDCR36 | Long             | DBT              | CORP              | US        |    250000 | PA      | $234689.53    | 0.31%             | 2030-07-15      | Fixed         | 9.75%                 | Yes           |                  2 | On Loan: No      |
| SIRIUS XM RADIO LLC                     | Sirius XM Radio Inc                                                             | CUSIP: 82967NBC1<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |    125000 | PA      | $124662.79    | 0.17%             | 2029-07-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| SIX FLAGS ENTERTAINME                   | Six Flags Entertainment Corp                                                    | CUSIP: 83001AAD4<br>LEI: 549300JYTDUAA4JQ3717 | Long             | DBT              | CORP              | US        |    100000 | PA      | $96391.52     | 0.13%             | 2031-05-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                   | Tenet Healthcare Corp                                                           | CUSIP: 88033GDQ0<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50387.60     | 0.07%             | 2030-06-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                           | TransDigm Inc                                                                   | CUSIP: 893647BV8<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    375000 | PA      | $382920.00    | 0.51%             | 2032-03-01      | Fixed         | 6.63%                 | Yes           |                  2 | On Loan: No      |
| OUTFRONT MEDIA CAP LLC/C                | Outfront Media Capital LLC / Outfront Media Capital Corp                        | CUSIP: 69007TAC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    275000 | PA      | $265492.15    | 0.36%             | 2030-03-15      | Fixed         | 4.63%                 | Yes           |                  2 | On Loan: No      |
| RANGE RESOURCES CORP                    | Range Resources Corp                                                            | CUSIP: 75281ABK4<br>LEI: H3Y3WLYCX0BTO1TRW162 | Long             | DBT              | CORP              | US        |     75000 | PA      | $73173.45     | 0.10%             | 2030-02-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| OPEN TEXT CORP                          | Open Text Corp                                                                  | CUSIP: 683715AC0<br>LEI: 549300HP7ONDQODZJV16 | Long             | DBT              | CORP              | CA        |    175000 | PA      | $168656.93    | 0.23%             | 2028-02-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| ORGANON & CO/ORGANON FOR                | Organon & Co / Organon Foreign Debt Co-Issuer BV                                | CUSIP: 68622FAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $164910.50    | 0.22%             | 2034-05-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| CARNIVAL CORP                           | Carnival Corp                                                                   | CUSIP: 143658BX9<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    150000 | PA      | $151579.50    | 0.20%             | 2033-02-15      | Fixed         | 6.13%                 | Yes           |                  2 | On Loan: No      |
| CELANESE US HOLDINGS LLC                | Celanese US Holdings LLC                                                        | CUSIP: 15089QAZ7<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |     25000 | PA      | $25529.20     | 0.03%             | 2030-04-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| RHP HOTEL PPTY/RHP FINAN                | RHP Hotel Properties LP / RHP Finance Corp                                      | CUSIP: 74984CAA6<br>LEI: N/A                  | Long             | DBT              |  | US        |     75000 | PA      | $74073.28     | 0.10%             | 2034-03-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| RIVERS ENT BORROWER LLC                 | Rivers Enterprise Lender LLC / Rivers Enterprise Lender Corp                    | CUSIP: 76884GAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    175000 | PA      | $174660.71    | 0.23%             | 2030-10-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| COHERENT CORP                           | II-VI Inc                                                                       | CUSIP: 902104AC2<br>LEI: 549300O5C25A0MMHHU33 | Long             | DBT              | CORP              | US        |    300000 | PA      | $294519.84    | 0.39%             | 2029-12-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| WR GRACE HOLDING LLC                    | WR Grace Holdings LLC                                                           | CUSIP: 92943GAF8<br>LEI: 549300WNOVFRGYOAEB12 | Long             | DBT              | CORP              | US        |    225000 | PA      | $219439.20    | 0.29%             | 2032-08-15      | Fixed         | 6.63%                 | Yes           |                  2 | On Loan: No      |
| WESCO DISTRIBUTION INC                  | WESCO Distribution Inc                                                          | CUSIP: 95081QAU8<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49367.45     | 0.07%             | 2034-04-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| WYNDHAM HOTELS & RESORTS                | Wyndham Hotels & Resorts Inc                                                    | CUSIP: 98311AAB1<br>LEI: 549300FE3MQ4RVXXC673 | Long             | DBT              | CORP              | US        |    175000 | PA      | $171052.93    | 0.23%             | 2028-08-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| XHR LP                                  | XHR LP                                                                          | CUSIP: 98372MAE5<br>LEI: 549300M88BPT83ZL2164 | Long             | DBT              |  | US        |    275000 | PA      | $277985.13    | 0.37%             | 2030-05-15      | Fixed         | 6.63%                 | Yes           |                  2 | On Loan: No      |
| XPLR INFRAST OPERATING                  | XPLR Infrastructure Operating Partners LP                                       | CUSIP: 98380MAB1<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |    125000 | PA      | $132136.76    | 0.18%             | 2033-03-15      | Fixed         | 8.63%                 | Yes           |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                 | Royal Caribbean Cruises Ltd                                                     | CUSIP: 780153BV3<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |    150000 | PA      | $151535.57    | 0.20%             | 2033-02-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                 | Royal Caribbean Cruises Ltd                                                     | CUSIP: 780153BW1<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |     50000 | PA      | $50505.17     | 0.07%             | 2031-09-30      | Fixed         | 5.63%                 | Yes           |                  2 | On Loan: No      |
| CLEVELAND-CLIFFS INC                    | Cleveland-Cliffs Inc                                                            | CUSIP: 185899AN1<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |    200000 | PA      | $195248.68    | 0.26%             | 2030-04-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| ELASTIC NV                              | Elastic NV                                                                      | CUSIP: 28415LAA1<br>LEI: 2549003I48WHHH937I59 | Long             | DBT              | CORP              | NL        |    325000 | PA      | $305125.41    | 0.41%             | 2029-07-15      | Fixed         | 4.13%                 | Yes           |                  2 | On Loan: No      |
| ROCKET SOFTWARE INC                     | Rocket Software Inc                                                             | CUSIP: 77314EAB4<br>LEI: 549300PVG26ISP5X1556 | Long             | DBT              | CORP              | US        |    250000 | PA      | $249885.81    | 0.33%             | 2028-11-28      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| STATION CASINOS LLC                     | Station Casinos LLC                                                             | CUSIP: 857691AJ8<br>LEI: 5493004E7Q60TX54WL62 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50232.50     | 0.07%             | 2032-03-15      | Fixed         | 6.63%                 | Yes           |                  2 | On Loan: No      |
| ELEMENT SOLUTIONS INC                   | Element Solutions Inc                                                           | CUSIP: 28618MAA4<br>LEI: 549300FLGN6P5CU20J91 | Long             | DBT              | CORP              | US        |    150000 | PA      | $146142.42    | 0.20%             | 2028-09-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| ENERGIZER HOLDINGS INC                  | Energizer Holdings Inc                                                          | CUSIP: 29272WAC3<br>LEI: 5493000D6NN0V57UME20 | Long             | DBT              | CORP              | US        |     75000 | PA      | $73873.33     | 0.10%             | 2028-06-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| SS&C TECHNOLOGIES INC                   | SS&C Technologies Inc                                                           | CUSIP: 78466CAC0<br>LEI: 549300KY09TR3J12JU49 | Long             | DBT              | CORP              | US        |    200000 | PA      | $200284.60    | 0.27%             | 2027-09-30      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Seagate Data Storage Technology Pte Ltd | SEAGATE DATA STORAGE TECH                                                       | CUSIP: 81180LAR6<br>LEI: N/A                  | Long             | DBT              | CORP              | SG        |    181000 | PA      | $201323.22    | 0.27%             | 2032-12-01      | Fixed         | 9.63%                 | Yes           |                  2 | On Loan: No      |
| TRANSDIGM INC                           | TransDigm Inc                                                                   | CUSIP: 893647BS5<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    425000 | PA      | $435749.53    | 0.58%             | 2030-12-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| TRIVIUM PACKAGING FIN                   | Trivium Packaging Finance BV                                                    | CUSIP: 89686QAD8<br>LEI: 724500GMZWW3PVYET548 | Long             | DBT              | CORP              | NL        |    180000 | PA      | $188469.54    | 0.25%             | 2030-07-15      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| US FOODS INC                            | US Foods Inc                                                                    | CUSIP: 90290MAE1<br>LEI: 5493000JOOFAOUY1JZ87 | Long             | DBT              | CORP              | US        |    150000 | PA      | $146177.31    | 0.20%             | 2030-06-01      | Fixed         | 4.63%                 | Yes           |                  2 | On Loan: No      |
| US FOODS INC                            | US Foods Inc                                                                    | CUSIP: 90290MAJ0<br>LEI: 5493000JOOFAOUY1JZ87 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24913.22     | 0.03%             | 2033-04-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| SEALED AIR CORP                         | Sealed Air Corp                                                                 | CUSIP: 81211KBA7<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100812.50    | 0.14%             | 2029-04-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| SELECT MEDICAL CORP                     | Select Medical Corp                                                             | CUSIP: 816196AV1<br>LEI: 549300X05KS0JKR8CB50 | Long             | DBT              | CORP              | US        |    300000 | PA      | $286208.36    | 0.38%             | 2032-12-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| UNITED AIRLINES HOLDINGS                | United Airlines Holdings Inc                                                    | CUSIP: 910047AL3<br>LEI: 98450079DA0B78DD6764 | Long             | DBT              | CORP              | US        |     75000 | PA      | $73542.50     | 0.10%             | 2031-03-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| USA COM PART/USA COM FIN                | USA Compression Partners LP / USA Compression Finance Corp                      | CUSIP: 91740PAH1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    175000 | PA      | $174734.88    | 0.23%             | 2033-10-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| TELENET FINANCE LUX NOTE                | Telenet Finance Luxembourg Notes Sarl                                           | CUSIP: 000000000<br>LEI: 2138007RI9GLJPCC3E25 | Long             | DBT              | CORP              | LU        |     50000 | PA      | $49197.09     | 0.07%             | 2028-03-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| SENSATA TECHNOLOGIES INC                | Sensata Technologies Inc                                                        | CUSIP: 81728UAC8<br>LEI: 5493002MMDDCUNV7NY90 | Long             | DBT              | CORP              | US        |    200000 | PA      | $204140.80    | 0.27%             | 2032-07-15      | Fixed         | 6.63%                 | Yes           |                  2 | On Loan: No      |
| STANDARD INDUSTRI INC/NY                | Standard Industries Inc/NY                                                      | CUSIP: 853496AH0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    175000 | PA      | $156976.14    | 0.21%             | 2031-01-15      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| ENERGIZER HOLDINGS INC                  | Energizer Holdings Inc                                                          | CUSIP: 29272WAD1<br>LEI: 5493000D6NN0V57UME20 | Long             | DBT              | CORP              | US        |    350000 | PA      | $333269.72    | 0.45%             | 2029-03-31      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| ENERGIZER HOLDINGS INC                  | Energizer Holdings Inc                                                          | CUSIP: 29272WAG4<br>LEI: 5493000D6NN0V57UME20 | Long             | DBT              | CORP              | US        |    200000 | PA      | $187556.64    | 0.25%             | 2033-09-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| TERRAFORM POWER OPERATIN                | TerraForm Power Operating LLC                                                   | CUSIP: 88104LAE3<br>LEI: 5493000S2OLR3UT5BE13 | Long             | DBT              | CORP              | US        |    300000 | PA      | $296848.53    | 0.40%             | 2028-01-31      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP INC                  | Picard Midco Inc                                                                | CUSIP: 88632QAE3<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |    325000 | PA      | $317380.47    | 0.43%             | 2029-03-31      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| AHP HEALTH PARTN                        | AHP Health Partners Inc                                                         | CUSIP: 00150LAB7<br>LEI: 549300QMM8MQ6SM5KX05 | Long             | DBT              | CORP              | US        |    175000 | PA      | $173199.88    | 0.23%             | 2029-07-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| US FOODS INC                            | US Foods Inc                                                                    | CUSIP: 90290MAD3<br>LEI: 5493000JOOFAOUY1JZ87 | Long             | DBT              | CORP              | US        |    250000 | PA      | $246857.33    | 0.33%             | 2029-02-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| SUNRISE FINCO I BV                      | UPC Broadband Finco BV                                                          | CUSIP: 90320BAA7<br>LEI: 213800MNFBDEQRS6HZ22 | Long             | DBT              | CORP              | NL        |    375000 | PA      | $357418.13    | 0.48%             | 2031-07-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                   | Venture Global Plaquemines LNG LLC                                              | CUSIP: 922966AF3<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |    225000 | PA      | $234355.95    | 0.31%             | 2034-06-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| UNITED RENTALS NORTH AM                 | United Rentals North America Inc                                                | CUSIP: 911365BN3<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |     75000 | PA      | $71294.66     | 0.10%             | 2030-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UNITED RENTALS NORTH AM                 | United Rentals North America Inc                                                | CUSIP: 911365BQ6<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50867.80     | 0.07%             | 2029-12-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| ABC SUPPLY CO INC                       | American Builders & Contractors Supply Co Inc                                   | CUSIP: 024747AF4<br>LEI: 549300H5GQ4C1BEKG397 | Long             | DBT              | CORP              | US        |    175000 | PA      | $171837.37    | 0.23%             | 2028-01-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| ANTERO MIDSTREAM PART/FI                | Antero Midstream Partners LP / Antero Midstream Finance Corp                    | CUSIP: 03690AAH9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $149604.56    | 0.20%             | 2029-06-15      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                  | CCO Holdings LLC / CCO Holdings Capital Corp                                    | CUSIP: 1248EPBX0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    350000 | PA      | $347338.39    | 0.47%             | 2028-02-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| CELANESE US HOLDINGS LLC                | Celanese US Holdings LLC                                                        | CUSIP: 15089QBA1<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |    350000 | PA      | $359307.53    | 0.48%             | 2033-04-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| SM ENERGY CO                            | Civitas Resources Inc                                                           | CUSIP: 17888HAB9<br>LEI: IIVIHPH28S64K95M2381 | Long             | DBT              | CORP              | US        |    150000 | PA      | $156871.80    | 0.21%             | 2031-07-01      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| CLEVELAND-CLIFFS INC                    | Cleveland-Cliffs Inc                                                            | CUSIP: 185899AK7<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |    150000 | PA      | $143257.80    | 0.19%             | 2029-03-01      | Fixed         | 4.63%                 | Yes           |                  2 | On Loan: No      |
| VZ SECURED FINANCING BV                 | VZ Secured Financing BV                                                         | CUSIP: 91845AAA3<br>LEI: 549300MG611MYCOWY949 | Long             | DBT              | CORP              | NL        |    250000 | PA      | $214542.75    | 0.29%             | 2032-01-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                   | Venture Global Plaquemines LNG LLC                                              | CUSIP: 922966AA4<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |    225000 | PA      | $247452.53    | 0.33%             | 2033-05-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| VOLTAGRID LLC                           | VoltaGrid LLC                                                                   | CUSIP: 92874BAA3<br>LEI: 254900R5BEUGIKK1FM03 | Long             | DBT              | CORP              | US        |    250000 | PA      | $258317.25    | 0.35%             | 2030-11-01      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| WR GRACE HOLDING LLC                    | WR Grace Holdings LLC                                                           | CUSIP: 92943GAH4<br>LEI: 549300WNOVFRGYOAEB12 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24300.75     | 0.03%             | 2033-08-01      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| WBI OPERATING LLC                       | WBI Operating LLC                                                               | CUSIP: 92944BAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $150995.25    | 0.20%             | 2030-10-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| WBI OPERATING LLC                       | WBI Operating LLC                                                               | CUSIP: 92944BAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    125000 | PA      | $124131.88    | 0.17%             | 2033-10-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| WATCO COS LLC/FINANCE CO                | Watco Cos LLC / Watco Finance Corp                                              | CUSIP: 941130AD8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    175000 | PA      | $179899.13    | 0.24%             | 2032-08-01      | Fixed         | 7.13%                 | Yes           |                  2 | On Loan: No      |
| WESCO DISTRIBUTION INC                  | WESCO Distribution Inc                                                          | CUSIP: 95081QAR5<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |    175000 | PA      | $179336.50    | 0.24%             | 2032-03-15      | Fixed         | 6.63%                 | Yes           |                  2 | On Loan: No      |
| WESCO DISTRIBUTION INC                  | WESCO Distribution Inc                                                          | CUSIP: 95081QAS3<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |     75000 | PA      | $76471.65     | 0.10%             | 2033-03-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| WHIRLPOOL CORP                          | Whirlpool Corp                                                                  | CUSIP: 963320BD7<br>LEI: WHENKOULSSK7WUM60H03 | Long             | DBT              | CORP              | US        |     75000 | PA      | $73288.98     | 0.10%             | 2030-06-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| WHITE CAP SUPPLY HOLDING                | White Cap Supply Holdings LLC                                                   | CUSIP: 96467GAC2<br>LEI: 254900L2N0T6GULCL366 | Long             | DBT              | CORP              | US        |    225000 | PA      | $218418.26    | 0.29%             | 2030-11-15      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| WULF COMPUTE LLC                        | WULF Compute LLC                                                                | CUSIP: 982911AA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    225000 | PA      | $237895.88    | 0.32%             | 2030-10-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| FAIR ISAAC CORP                         | Fair Isaac Corp                                                                 | CUSIP: 303250AG9<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | DBT              | CORP              | US        |    125000 | PA      | $122727.68    | 0.16%             | 2033-05-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| GENMAB A/S/GENMAB FIN                   | GENMAB A/S/GENMAB FINANCE LLC                                                   | CUSIP: 37230JAB8<br>LEI: N/A                  | Long             | DBT              | CORP              | DK        |    200000 | PA      | $209529.20    | 0.28%             | 2033-12-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| ELLUCIAN HOLDINGS INC                   | Ellucian Holdings Inc                                                           | CUSIP: 289178AA3<br>LEI: 549300RP8NIJ7FY7OS79 | Long             | DBT              | CORP              | US        |    100000 | PA      | $97926.38     | 0.13%             | 2029-12-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| ENTEGRIS INC                            | Entegris Escrow Corp                                                            | CUSIP: 29365BAB9<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | DBT              | CORP              | US        |    350000 | PA      | $352461.55    | 0.47%             | 2030-06-15      | Fixed         | 5.95%                 | Yes           |                  2 | On Loan: No      |
| FAIR ISAAC CORP                         | Fair Isaac Corp                                                                 | CUSIP: 303250AJ3<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | DBT              | CORP              | US        |    150000 | PA      | $147658.14    | 0.20%             | 2034-09-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| GARDA WORLD SECURITY                    | Garda World Security Corp                                                       | CUSIP: 36485MAP4<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | DBT              | CORP              | CA        |    650000 | PA      | $651013.35    | 0.87%             | 2032-11-15      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| IHO VERWALTUNGS GMBH                    | IHO Verwaltungs GmbH                                                            | CUSIP: 44963BAG3<br>LEI: 529900JL0HDVGZMUJF32 | Long             | DBT              | CORP              | DE        |    375000 | PA      | $384468.38    | 0.52%             | 2032-11-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| OLYMPUS WTR US HLDG CORP                | Inversion Escrow Issuer LLC                                                     | CUSIP: 46150DAA0<br>LEI: 254900P6GHORGRVLKI95 | Long             | DBT              | CORP              | US        |    200000 | PA      | $190667.72    | 0.26%             | 2032-08-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| HERC HOLDINGS INC                       | Herc Holdings Inc                                                               | CUSIP: 42704LAF1<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |    125000 | PA      | $128260.50    | 0.17%             | 2030-06-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| INDUSTRIAL F&B INV                      | Industrial F&B Investments III Inc                                              | CUSIP: 456142AA6<br>LEI: 254900VSX7CEW7CNTO51 | Long             | DBT              | CORP              | US        |    150000 | PA      | $151687.94    | 0.20%             | 2033-02-11      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| KODIAK GAS SERVICES LLC                 | Kodiak Gas Services LLC                                                         | CUSIP: 50012LAD6<br>LEI: 549300ZQBRWEUOVOM131 | Long             | DBT              | CORP              | US        |    150000 | PA      | $151723.80    | 0.20%             | 2033-10-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| LAMAR MEDIA CORP                        | Lamar Media Corp                                                                | CUSIP: 513075BZ3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $92599.28     | 0.12%             | 2031-01-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| MGM RESORTS INTL                        | MGM Resorts International                                                       | CUSIP: 552953CJ8<br>LEI: 54930066VBP7DZEGGJ87 | Long             | DBT              | CORP              | US        |    225000 | PA      | $226986.75    | 0.30%             | 2032-04-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| DISCOVERY HOLDINGS INC                  | Discovery Global Holdings Inc                                                   | CUSIP: 55903VBQ5<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |     50000 | PA      | $44312.50     | 0.06%             | 2032-03-15      | Fixed         | 4.28%                 | No            |                  2 | On Loan: No      |
| INSIGHT ENTERPRS                        | Insight Enterprises Inc                                                         | CUSIP: 45765UAC7<br>LEI: 529900S8991TYW6YP792 | Long             | DBT              | CORP              | US        |    250000 | PA      | $241506.03    | 0.32%             | 2032-05-15      | Fixed         | 6.63%                 | Yes           |                  2 | On Loan: No      |
| NABORS INDUSTRIES INC                   | Nabors Industries Inc                                                           | CUSIP: 62957HAP0<br>LEI: 549300VFQWRKICUFNU92 | Long             | DBT              | CORP              | US        |     75000 | PA      | $78792.08     | 0.11%             | 2030-01-31      | Fixed         | 9.13%                 | Yes           |                  2 | On Loan: No      |
| QXO BUILDING PRODUCTS                   | Beacon Roofing Supply Inc                                                       | CUSIP: 74825NAA5<br>LEI: 549300HDXQWWCBOYXP31 | Long             | DBT              | CORP              | US        |    275000 | PA      | $280738.15    | 0.38%             | 2032-04-30      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| ROCKETMTGE CO-ISSUER INC                | Quicken Loans LLC / Quicken Loans Co-Issuer Inc                                 | CUSIP: 74841CAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    125000 | PA      | $115407.89    | 0.15%             | 2031-03-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| MEDLINE BORROWER/MEDL CO                | Medline Borrower LP/Medline Co-Issuer Inc                                       | CUSIP: 58506DAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    125000 | PA      | $127529.11    | 0.17%             | 2029-04-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| NCR VOYIX CORP                          | NCR Corp                                                                        | CUSIP: 62886EBA5<br>LEI: 549300YKTY8JX1DV2R67 | Long             | DBT              | CORP              | US        |     59000 | PA      | $56488.81     | 0.08%             | 2029-04-15      | Fixed         | 5.13%                 | Yes           |                  2 | On Loan: No      |
| SM ENERGY CO                            | SM Energy Co                                                                    | CUSIP: 78454LAZ3<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99797.46     | 0.13%             | 2034-04-15      | Fixed         | 6.63%                 | Yes           |                  2 | On Loan: No      |
| SCIENCE APPLICATIONS INT                | Science Applications International Corp                                         | CUSIP: 808625AA5<br>LEI: 549300LZPNZIXQGZPZ48 | Long             | DBT              | CORP              | US        |     75000 | PA      | $73869.88     | 0.10%             | 2028-04-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| NCL CORPORATION LTD                     | NCL Corp Ltd                                                                    | CUSIP: 62886HBZ3<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |     25000 | PA      | $24275.84     | 0.03%             | 2033-09-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| NABORS INDUSTRIES INC                   | Nabors Industries Inc                                                           | CUSIP: 62957HAR6<br>LEI: 549300VFQWRKICUFNU92 | Long             | DBT              | CORP              | US        |    125000 | PA      | $128035.94    | 0.17%             | 2032-11-15      | Fixed         | 7.63%                 | Yes           |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                   | Tenet Healthcare Corp                                                           | CUSIP: 88033GDW7<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |     75000 | PA      | $74360.00     | 0.10%             | 2032-11-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| TERRAFORM POWER OPERATIN                | TerraForm Power Operating LLC                                                   | CUSIP: 88104LAG8<br>LEI: 5493000S2OLR3UT5BE13 | Long             | DBT              | CORP              | US        |     50000 | PA      | $47914.96     | 0.06%             | 2030-01-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| TRANSDIGM INC                           | TransDigm Inc                                                                   | CUSIP: 893647CB1<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    100000 | PA      | $98479.24     | 0.13%             | 2034-07-31      | Fixed         | 6.13%                 | Yes           |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS                | Univision Communications Inc                                                    | CUSIP: 914906AV4<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |    250000 | PA      | $235051.63    | 0.31%             | 2029-05-01      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| NORTHRIVER MIDSTREAM FIN                | Northriver Midstream Finance LP                                                 | CUSIP: 66679NAB6<br>LEI: 549300SOLNLY3BL6GF18 | Long             | DBT              | CORP              | CA        |    250000 | PA      | $250911.50    | 0.34%             | 2032-07-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| OPAL BIDCO                              | OPAL BIDCO                                                                      | CUSIP: 68348BAA1<br>LEI: 969500R96XT7XY2UJ564 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $200313.80    | 0.27%             | 2032-03-31      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| OUTFRONT MEDIA CAP LLC/C                | Outfront Media Capital LLC / Outfront Media Capital Corp                        | CUSIP: 69007TAE4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $48239.02     | 0.06%             | 2029-01-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| PATRICK INDUSTRIES INC                  | Patrick Industries Inc                                                          | CUSIP: 703343AH6<br>LEI: 549300FZ5ZTCCJ3Z5W14 | Long             | DBT              | CORP              | US        |    300000 | PA      | $300393.28    | 0.40%             | 2032-11-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| AVANTOR FUNDING INC                     | Avantor Funding Inc                                                             | CUSIP: 05352TAB5<br>LEI: 5493003VM0XB4U8YD238 | Long             | DBT              | CORP              | US        |    225000 | PA      | $211258.82    | 0.28%             | 2029-11-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| PERFORMANCE FOOD GROUP I                | Performance Food Group Inc                                                      | CUSIP: 71376LAF7<br>LEI: 549300OMUOGBYK0FFO76 | Long             | DBT              | CORP              | US        |    125000 | PA      | $125387.13    | 0.17%             | 2032-09-15      | Fixed         | 6.13%                 | Yes           |                  2 | On Loan: No      |
| QNITY ELECTRONICS INC                   | Qnity Electronics Inc                                                           | CUSIP: 74743LAA8<br>LEI: 254900RSUG4J9TFFZX53 | Long             | DBT              | CORP              | US        |     75000 | PA      | $75183.08     | 0.10%             | 2032-08-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| BLACK PEARL COMPUTE LLC                 | Black Pearl Compute LLC                                                         | CUSIP: 09216NAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     75000 | PA      | $76428.53     | 0.10%             | 2031-02-15      | Fixed         | 6.13%                 | Yes           |                  2 | On Loan: No      |
| BLUE RACER MID LLC/FINAN                | Blue Racer Midstream LLC / Blue Racer Finance Corp                              | CUSIP: 095796AK4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $103944.80    | 0.14%             | 2032-07-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                  | CCO Holdings LLC / CCO Holdings Capital Corp                                    | CUSIP: 1248EPCL5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    225000 | PA      | $196050.04    | 0.26%             | 2033-06-01      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                | CHS/Community Health Systems Inc                                                | CUSIP: 12543DBH2<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49480.25     | 0.07%             | 2029-01-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                | CHS/Community Health Systems Inc                                                | CUSIP: 12543DBM1<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |    125000 | PA      | $117890.29    | 0.16%             | 2030-05-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| CAESARS ENTERTAIN INC                   | Caesars Entertainment Inc                                                       | CUSIP: 12769GAD2<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |    500000 | PA      | $460614.41    | 0.62%             | 2032-10-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| SM ENERGY CO                            | Civitas Resources Inc                                                           | CUSIP: 17888HAA1<br>LEI: IIVIHPH28S64K95M2381 | Long             | DBT              | CORP              | US        |    125000 | PA      | $128509.75    | 0.17%             | 2028-07-01      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP INC                  | Cloud Software Group Inc                                                        | CUSIP: 18912UAC6<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |    100000 | PA      | $94923.49     | 0.13%             | 2032-06-30      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| GRAPHIC PACKAGING INTERN                | Graphic Packaging International LLC                                             | CUSIP: 38869AAC1<br>LEI: SO75N4VY5NXGQSK8YQ65 | Long             | DBT              | CORP              | US        |    150000 | PA      | $140551.31    | 0.19%             | 2029-03-01      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| HESS MIDSTREAM OPERATION                | Hess Midstream Operations LP                                                    | CUSIP: 428102AG2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $51102.76     | 0.07%             | 2029-06-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| JONES DESLAURIERS INSURA                | Jones Deslauriers Insurance Management Inc                                      | CUSIP: 48020RAB1<br>LEI: 549300JQIWNFU00E5424 | Long             | DBT              | CORP              | CA        |    125000 | PA      | $127159.75    | 0.17%             | 2030-03-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| MOLINA HEALTHCARE INC                   | Molina Healthcare Inc                                                           | CUSIP: 60855RAM2<br>LEI: 549300NQQCEQ46YHZ591 | Long             | DBT              | CORP              | US        |    225000 | PA      | $218297.39    | 0.29%             | 2033-01-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| NCR VOYIX CORP                          | NCR Corp                                                                        | CUSIP: 62886EAY4<br>LEI: 549300YKTY8JX1DV2R67 | Long             | DBT              | CORP              | US        |    175000 | PA      | $168758.03    | 0.23%             | 2028-10-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| CHORD ENERGY CORP                       | Chord Energy Corp                                                               | CUSIP: 674215AQ1<br>LEI: 529900FA4V2YNIKZ0M71 | Long             | DBT              | CORP              | US        |    150000 | PA      | $152079.00    | 0.20%             | 2030-10-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| PERFORMANCE FOOD GROUP I                | Performance Food Group Inc                                                      | CUSIP: 71376LAE0<br>LEI: 549300OMUOGBYK0FFO76 | Long             | DBT              | CORP              | US        |    125000 | PA      | $120172.43    | 0.16%             | 2029-08-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| TGNR INTERMEDIATE HOLDIN                | Rockcliff Energy II LLC                                                         | CUSIP: 77289KAA3<br>LEI: 5493007AZNVKZ5HEMT23 | Long             | DBT              | CORP              | US        |    375000 | PA      | $366943.91    | 0.49%             | 2029-10-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| SHIFT4 PAYMENTS LLC/FIN                 | Shift4 Payments LLC / Shift4 Payments Finance Sub Inc                           | CUSIP: 82453AAB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     75000 | PA      | $73840.50     | 0.10%             | 2032-08-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| RAVEN ACQUISITION HOLDIN                | Raven Acquisition Holdings LLC                                                  | CUSIP: 75420NAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $241226.78    | 0.32%             | 2031-11-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| SPX FLOW INC                            | Redwood Star Merger Sub Inc                                                     | CUSIP: 758071AA2<br>LEI: 5493003YXEKRBINIEM78 | Long             | DBT              | CORP              | US        |    500000 | PA      | $510940.00    | 0.68%             | 2030-04-01      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| ROCKETMTGE CO-ISSUER INC                | Rocket Mortgage LLC / Rocket Mortgage Co-Issuer Inc                             | CUSIP: 77313LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $98973.75     | 0.13%             | 2026-10-15      | Fixed         | 2.88%                 | Yes           |                  2 | On Loan: No      |
| ROCKIES EXPRESS PIPELINE                | ROCKIES EXPRESS PIPELINE                                                        | CUSIP: 77340RAU1<br>LEI: W2ZGZGZKY5GGNY6F3V51 | Long             | DBT              | CORP              | US        |    250000 | PA      | $257492.00    | 0.35%             | 2033-03-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                 | Royal Caribbean Cruises Ltd                                                     | CUSIP: 780153BU5<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |    200000 | PA      | $204514.23    | 0.27%             | 2032-03-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| SM ENERGY CO                            | SM Energy Co                                                                    | CUSIP: 78454LAP5<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50029.71     | 0.07%             | 2027-01-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| SOLSTICE ADVANCED MATERI                | Solstice Advanced Materials Inc                                                 | CUSIP: 83443QAA1<br>LEI: 2138004GZ4H9TW6HK435 | Long             | DBT              | CORP              | US        |    150000 | PA      | $148054.83    | 0.20%             | 2033-09-30      | Fixed         | 5.63%                 | Yes           |                  2 | On Loan: No      |
| STANDARD BUILDING SOLUTI                | Standard Industries Inc/NJ                                                      | CUSIP: 853191AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    175000 | PA      | $175245.35    | 0.23%             | 2032-08-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| SM ENERGY CO                            | SM Energy Co                                                                    | CUSIP: 78454LAX8<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |    125000 | PA      | $126973.38    | 0.17%             | 2029-08-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Seagate Data Storage Technology Pte Ltd | SEAGATE DATA STOR                                                               | CUSIP: 81180LAQ8<br>LEI: N/A                  | Long             | DBT              | CORP              | SG        |    125000 | PA      | $131156.38    | 0.18%             | 2031-07-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| SUBURBAN PROPANE PARTNRS                | Suburban Propane Partners LP/Suburban Energy Finance Corp                       | CUSIP: 864486AM7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $145948.58    | 0.20%             | 2035-12-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| TOPBUILD CORP                           | TopBuild Corp                                                                   | CUSIP: 89055FAD5<br>LEI: 5493007YSKHOL4RWII46 | Long             | DBT              | CORP              | US        |    275000 | PA      | $269449.59    | 0.36%             | 2034-01-31      | Fixed         | 5.63%                 | Yes           |                  2 | On Loan: No      |
| UKG INC                                 | UKG Inc                                                                         | CUSIP: 90279XAA0<br>LEI: 529900FKHWSTQ1GXK240 | Long             | DBT              | CORP              | US        |    250000 | PA      | $244542.61    | 0.33%             | 2031-02-01      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| VMED O2 UK FINAN                        | Vmed O2 UK Financing I PLC                                                      | CUSIP: 92858RAB6<br>LEI: 213800MRR46ECNGZ7L69 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $172286.26    | 0.23%             | 2031-07-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| WR GRACE HOLDING LLC                    | WR Grace Holdings LLC                                                           | CUSIP: 92943GAA9<br>LEI: 549300WNOVFRGYOAEB12 | Long             | DBT              | CORP              | US        |    125000 | PA      | $115085.55    | 0.15%             | 2029-08-15      | Fixed         | 5.63%                 | Yes           |                  2 | On Loan: No      |
| WR GRACE HOLDING LLC                    | WR Grace Holdings LLC                                                           | CUSIP: 92943GAE1<br>LEI: 549300WNOVFRGYOAEB12 | Long             | DBT              | CORP              | US        |     75000 | PA      | $75251.25     | 0.10%             | 2031-03-01      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| WHIRLPOOL CORP                          | Whirlpool Corp                                                                  | CUSIP: 963320BE5<br>LEI: WHENKOULSSK7WUM60H03 | Long             | DBT              | CORP              | US        |    225000 | PA      | $213442.54    | 0.29%             | 2033-06-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| XPLR INFRAST OPERATING                  | XPLR Infrastructure Operating Partners LP                                       | CUSIP: 98379YAA0<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |     75000 | PA      | $77505.90     | 0.10%             | 2034-04-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| SENSATA TECHNOLOGIES INC                | Sensata Technologies Inc                                                        | CUSIP: 81728UAB0<br>LEI: 5493002MMDDCUNV7NY90 | Long             | DBT              | CORP              | US        |     75000 | PA      | $69619.52     | 0.09%             | 2031-02-15      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| SIRIUS XM RADIO LLC                     | Sirius XM Radio Inc                                                             | CUSIP: 82967NBG2<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |    200000 | PA      | $187396.44    | 0.25%             | 2030-07-01      | Fixed         | 4.13%                 | Yes           |                  2 | On Loan: No      |
| AMWINS GROUP INC                        | AmWINS Group Inc                                                                | CUSIP: 031921AC3<br>LEI: 549300SJE7MUB8NMRG61 | Long             | DBT              | CORP              | US        |    275000 | PA      | $276764.40    | 0.37%             | 2029-02-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| ANTERO MIDSTREAM PART/FI                | Antero Midstream Partners LP / Antero Midstream Finance Corp                    | CUSIP: 03690AAF3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    400000 | PA      | $400223.92    | 0.54%             | 2028-01-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| AXALTA COAT/DUTCH HLD BV                | Axalta Coating Systems LLC / Axalta Coating Systems Dutch Holding B BV          | CUSIP: 05454NAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    150000 | PA      | $149075.13    | 0.20%             | 2027-06-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| STATION CASINOS LLC                     | Station Casinos LLC                                                             | CUSIP: 857691AG4<br>LEI: 5493004E7Q60TX54WL62 | Long             | DBT              | CORP              | US        |    225000 | PA      | $220652.51    | 0.30%             | 2028-02-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| TELEFLEX INC                            | Teleflex Inc                                                                    | CUSIP: 879369AG1<br>LEI: UUL85LWXB4NGSWWXIQ25 | Long             | DBT              | CORP              | US        |     50000 | PA      | $48651.35     | 0.07%             | 2028-06-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| TRANSDIGM INC                           | TransDigm Inc                                                                   | CUSIP: 893647BY2<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    200000 | PA      | $199091.66    | 0.27%             | 2033-05-31      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| TRANSDIGM INC                           | TransDigm Inc                                                                   | CUSIP: 893647BZ9<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50592.55     | 0.07%             | 2034-01-31      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| BALDWIN INSUR GRP/FIN                   | Baldwin Insurance Group Holdings LLC / Baldwin Insurance Group Holdings Finance | CUSIP: 05825XAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    475000 | PA      | $477716.73    | 0.64%             | 2031-05-15      | Fixed         | 7.13%                 | Yes           |                  2 | On Loan: No      |
| BALL CORP                               | Ball Corp                                                                       | CUSIP: 058498AW6<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | DBT              | CORP              | US        |    225000 | PA      | $204924.85    | 0.27%             | 2030-08-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| APLD COMPUTECO LLC                      | APLD ComputeCo LLC                                                              | CUSIP: 00202DAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    325000 | PA      | $335140.65    | 0.45%             | 2030-12-15      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| GARDA WORLD SECURITY                    | Garda World Security Corp                                                       | CUSIP: 36485MAQ2<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | DBT              | CORP              | CA        |     50000 | PA      | $50729.10     | 0.07%             | 2031-01-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| LIGHT & WONDER INTL INC                 | Light & Wonder International Inc                                                | CUSIP: 531968AA3<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | DBT              | CORP              | US        |    250000 | PA      | $256717.50    | 0.34%             | 2031-09-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| LIGHT & WONDER INTL INC                 | Light & Wonder International Inc                                                | CUSIP: 531968AB1<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49023.50     | 0.07%             | 2033-10-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| MGM RESORTS INTL                        | MGM Resorts International                                                       | CUSIP: 552953CK5<br>LEI: 54930066VBP7DZEGGJ87 | Long             | DBT              | CORP              | US        |    125000 | PA      | $125810.00    | 0.17%             | 2029-09-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| MIDWEST GMNG BOR/MWG FIN                | Midwest Gaming Borrower LLC                                                     | CUSIP: 59833DAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    375000 | PA      | $363888.41    | 0.49%             | 2029-05-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| NRG ENERGY INC                          | NRG Energy Inc                                                                  | CUSIP: 629377CH3<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    250000 | PA      | $247650.63    | 0.33%             | 2029-06-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| 1011778 BC / NEW RED FIN                | 1011778 BC ULC / New Red Finance Inc                                            | CUSIP: 68245XAP4<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    225000 | PA      | $214941.44    | 0.29%             | 2029-02-15      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| ROCKETMTGE CO-ISSUER INC                | Quicken Loans LLC / Quicken Loans Co-Issuer Inc                                 | CUSIP: 74841CAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $94756.73     | 0.13%             | 2029-03-01      | Fixed         | 3.63%                 | Yes           |                  2 | On Loan: No      |
| RHP HOTEL PPTY/RHP FINAN                | RHP Hotel Properties LP / RHP Finance Corp                                      | CUSIP: 749571AL9<br>LEI: N/A                  | Long             | DBT              |  | US        |     25000 | PA      | $25474.65     | 0.03%             | 2033-06-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| YUM! BRANDS INC                         | Yum! Brands Inc                                                                 | CUSIP: 988498AP6<br>LEI: 549300JE8XHZZ7OHN517 | Long             | DBT              | CORP              | US        |    250000 | PA      | $238904.38    | 0.32%             | 2032-01-31      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| ZIPRECRUITER INC                        | ZipRecruiter Inc                                                                | CUSIP: 98980BAA1<br>LEI: 549300HLOVNNFCY2IV80 | Long             | DBT              | CORP              | US        |     75000 | PA      | $43387.01     | 0.06%             | 2030-01-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| BOYD GAMING CORP                        | Boyd Gaming Corp                                                                | CUSIP: 103304BV2<br>LEI: 254900787YGRYS2A1Z35 | Long             | DBT              | CORP              | US        |    100000 | PA      | $95166.90     | 0.13%             | 2031-06-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                  | CCO Holdings LLC / CCO Holdings Capital Corp                                    | CUSIP: 1248EPCU5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    175000 | PA      | $175656.13    | 0.24%             | 2033-02-01      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| CHURCHILL DOWNS INC                     | Churchill Downs Inc                                                             | CUSIP: 171484AJ7<br>LEI: 529900FODTBQC8MIS994 | Long             | DBT              | CORP              | US        |     75000 | PA      | $76503.83     | 0.10%             | 2031-05-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| CLYDESDALE ACQUISITION                  | Clydesdale Acquisition Holdings Inc                                             | CUSIP: 18972EAD7<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |    150000 | PA      | $142100.04    | 0.19%             | 2032-04-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| CROSSCOUNTRY INTER                      | CrossCountry Intermediate HoldCo LLC                                            | CUSIP: 22757VAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $477194.32    | 0.64%             | 2030-10-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| CROSSCOUNTRY INTER                      | CrossCountry Intermediate HoldCo LLC                                            | CUSIP: 22757VAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     25000 | PA      | $23548.51     | 0.03%             | 2032-12-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS                | Univision Communications Inc                                                    | CUSIP: 914906AY8<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50777.60     | 0.07%             | 2028-08-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| USA COM PART/USA COM FIN                | USA Compression Partners LP / USA Compression Finance Corp                      | CUSIP: 91740PAG3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $153564.93    | 0.21%             | 2029-03-15      | Fixed         | 7.13%                 | Yes           |                  2 | On Loan: No      |
| CROWN AMERICAS LLC                      | Crown Americas LLC                                                              | CUSIP: 22819CAA6<br>LEI: RPPGGRL1J75WGF2DFO04 | Long             | DBT              | CORP              | US        |    275000 | PA      | $275127.35    | 0.37%             | 2033-06-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| GAP INC/THE                             | Gap Inc/The                                                                     | CUSIP: 364760AP3<br>LEI: T2ZG1WRWZ4BUCMQL9224 | Long             | DBT              | CORP              | US        |    225000 | PA      | $210339.00    | 0.28%             | 2029-10-01      | Fixed         | 3.63%                 | Yes           |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                   | Venture Global Plaquemines LNG LLC                                              | CUSIP: 922966AC0<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |    225000 | PA      | $234692.84    | 0.31%             | 2034-01-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| VIRGIN MEDIA SECURED FIN                | Virgin Media Secured Finance PLC                                                | CUSIP: 92769XAR6<br>LEI: 213800X3RLP4NOTPY579 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $177525.72    | 0.24%             | 2030-08-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| GRIFOLS SA                              | Grifols Escrow Issuer SA                                                        | CUSIP: 39843UAA0<br>LEI: 959800HSSNXWRKBK4N60 | Long             | DBT              | CORP              | ES        |    400000 | PA      | $392035.92    | 0.53%             | 2028-10-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| GROUP 1 AUTOMOTIVE INC                  | Group 1 Automotive Inc                                                          | CUSIP: 398905AQ2<br>LEI: 549300US8QAZJLWYAF63 | Long             | DBT              | CORP              | US        |    200000 | PA      | $201474.60    | 0.27%             | 2030-01-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| WILLIAM CARTER                          | William Carter Co/The                                                           | CUSIP: 96926JAG2<br>LEI: TGI2A0HXEYNQPU7TYV27 | Long             | DBT              | CORP              | US        |    275000 | PA      | $280831.59    | 0.38%             | 2031-02-15      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| WYNN RESORTS FINANCE LLC                | Wynn Resorts Finance LLC / Wynn Resorts Capital Corp                            | CUSIP: 983133AD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    275000 | PA      | $272418.96    | 0.37%             | 2033-03-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| ALBERTSONS COS INC                      | Albertsons Cos Inc                                                              | CUSIP: 01309QAE8<br>LEI: 549300YKWOC0AOR16R51 | Long             | DBT              | CORP              | US        |    175000 | PA      | $172432.94    | 0.23%             | 2032-03-31      | Fixed         | 5.63%                 | Yes           |                  2 | On Loan: No      |
| ALLIANT HOLD / CO-ISSUER                | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                  | CUSIP: 01883LAD5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $242088.55    | 0.32%             | 2029-11-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| AVANTOR FUNDING INC                     | Avantor Funding Inc                                                             | CUSIP: 05352TAA7<br>LEI: 5493003VM0XB4U8YD238 | Long             | DBT              | CORP              | US        |    225000 | PA      | $219738.03    | 0.29%             | 2028-07-15      | Fixed         | 4.63%                 | Yes           |                  2 | On Loan: No      |
| EQT CORP                                | EQT Corp                                                                        | CUSIP: 26884LBD0<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |     75000 | PA      | $74638.91     | 0.10%             | 2031-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| EMRLD BOR / EMRLD CO-ISS                | Emerald Debt Merger Sub LLC                                                     | CUSIP: 29103CAA6<br>LEI: 98450099EE3A0ZD5F786 | Long             | DBT              | CORP              | US        |    375000 | PA      | $381865.88    | 0.51%             | 2030-12-15      | Fixed         | 6.63%                 | Yes           |                  2 | On Loan: No      |
| HUB INTERNATIONAL LTD                   | HUB International Ltd                                                           | CUSIP: 44332PAG6<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |    300000 | PA      | $291267.11    | 0.39%             | 2029-12-01      | Fixed         | 5.63%                 | Yes           |                  2 | On Loan: No      |
| HUB INTERNATIONAL LTD                   | HUB International Ltd                                                           | CUSIP: 44332PAH4<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |    125000 | PA      | $128122.38    | 0.17%             | 2030-06-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| JONES DESLAURIERS INSURA                | Jones Deslauriers Insurance Management Inc                                      | CUSIP: 48020RAE5<br>LEI: 549300JQIWNFU00E5424 | Long             | DBT              | CORP              | CA        |    450000 | PA      | $412222.35    | 0.55%             | 2033-10-01      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| KODIAK GAS SERVICES LLC                 | Kodiak Gas Services LLC                                                         | CUSIP: 50012LAE4<br>LEI: 549300ZQBRWEUOVOM131 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101665.70    | 0.14%             | 2035-10-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| MAUSER PACKAGING SOLUT                  | Mauser Packaging Solutions Holding Co                                           | CUSIP: 57763RAE7<br>LEI: 549300DNGHXL0OMHW304 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100071.50    | 0.13%             | 2030-04-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| MEDLINE BORROWER LP                     | Mozart Debt Merger Sub Inc                                                      | CUSIP: 62482BAB8<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |    600000 | PA      | $595078.98    | 0.80%             | 2029-10-01      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| NRG ENERGY INC                          | NRG Energy Inc                                                                  | CUSIP: 629377CS9<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |     39000 | PA      | $35909.21     | 0.05%             | 2032-02-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| GEN DIGITAL INC                         | Gen Digital Inc                                                                 | CUSIP: 668771AM0<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | DBT              | CORP              | US        |    150000 | PA      | $145935.84    | 0.20%             | 2033-04-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| OLYMPUS WTR US HLDG CORP                | Olympus Water US Holding Corp                                                   | CUSIP: 681639AE0<br>LEI: 549300YU2GGVCBN3MY89 | Long             | DBT              | CORP              | US        |    375000 | PA      | $358119.83    | 0.48%             | 2033-02-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| ROCKETMTGE CO-ISSUER INC                | Rocket Mortgage LLC / Rocket Mortgage Co-Issuer Inc                             | CUSIP: 77313LAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $134569.05    | 0.18%             | 2033-10-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| ROCKET SOFTWARE INC                     | Rocket Software Inc                                                             | CUSIP: 77314EAA6<br>LEI: 549300PVG26ISP5X1556 | Long             | DBT              | CORP              | US        |    350000 | PA      | $315426.09    | 0.42%             | 2029-02-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| SIRIUS XM RADIO LLC                     | Sirius XM Radio Inc                                                             | CUSIP: 82967NBJ6<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |    150000 | PA      | $144878.39    | 0.19%             | 2028-07-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                   | Tenet Healthcare Corp                                                           | CUSIP: 88033GDB3<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49981.56     | 0.07%             | 2027-11-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                   | Tenet Healthcare Corp                                                           | CUSIP: 88033GDH0<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24792.44     | 0.03%             | 2028-06-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| UNITED RENTALS NORTH AM                 | United Rentals North America Inc                                                | CUSIP: 911365BS2<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |     50000 | PA      | $48671.48     | 0.07%             | 2033-11-15      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| HESS MIDSTREAM OPERATION                | Hess Midstream Partners LP                                                      | CUSIP: 428104AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    175000 | PA      | $174573.26    | 0.23%             | 2028-06-15      | Fixed         | 5.13%                 | Yes           |                  2 | On Loan: No      |
| HILTON DOMESTIC OPERATIN                | Hilton Domestic Operating Co Inc                                                | CUSIP: 432833AN1<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |    100000 | PA      | $90965.01     | 0.12%             | 2032-02-15      | Fixed         | 3.63%                 | Yes           |                  2 | On Loan: No      |
| HUB INTERNATIONAL LTD                   | HUB International Ltd                                                           | CUSIP: 44332PAJ0<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |    650000 | PA      | $663382.20    | 0.89%             | 2032-01-31      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| INSULET CORPORATION                     | Insulet Corp                                                                    | CUSIP: 45784PAL5<br>LEI: 549300TZTYD2PYN92D43 | Long             | DBT              | CORP              | US        |     50000 | PA      | $51071.85     | 0.07%             | 2033-04-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                       | Iron Mountain Inc                                                               | CUSIP: 46284VAJ0<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              |  | US        |     75000 | PA      | $72909.91     | 0.10%             | 2030-07-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| KODIAK GAS SERVICES LLC                 | Kodiak Gas Services LLC                                                         | CUSIP: 50012LAC8<br>LEI: 549300ZQBRWEUOVOM131 | Long             | DBT              | CORP              | US        |    100000 | PA      | $103661.00    | 0.14%             | 2029-02-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                | Vistra Operations Co LLC                                                        | CUSIP: 92840VAB8<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    200000 | PA      | $200089.84    | 0.27%             | 2027-02-15      | Fixed         | 5.63%                 | Yes           |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                | Vistra Operations Co LLC                                                        | CUSIP: 92840VAP7<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    250000 | PA      | $261990.41    | 0.35%             | 2031-10-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Ardagh Holdings SA                      | Ardagh Holdings SA                                                              | CUSIP: 985923101<br>LEI: 549300ORV6YW6ESSNQ21 | Long             | EC               | CORP              | LU        |      7050 | NS      | $56022.62     | 0.08%             |  |  |  | No            |                  3 | On Loan: No      |
| LCM INVESTMENTS HOLDINGS                | LCM Investments Holdings II LLC                                                 | CUSIP: 50190EAA2<br>LEI: 549300P5V78NNQTG4428 | Long             | DBT              | CORP              | US        |    150000 | PA      | $146056.70    | 0.20%             | 2029-05-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| LITHIA MOTORS INC                       | Lithia Motors Inc                                                               | CUSIP: 536797AJ2<br>LEI: SE8N1EZEHPZQBCBVKD53 | Long             | DBT              | CORP              | US        |    275000 | PA      | $269626.60    | 0.36%             | 2030-10-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| MATADOR RESOURCES CO                    | Matador Resources Co                                                            | CUSIP: 576485AG1<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | DBT              | CORP              | US        |    250000 | PA      | $252905.01    | 0.34%             | 2032-04-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| MATADOR RESOURCES CO                    | Matador Resources Co                                                            | CUSIP: 576485AJ5<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49714.36     | 0.07%             | 2034-04-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| NCL CORPORATION LTD                     | NCL Corp Ltd                                                                    | CUSIP: 62886HBG5<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |     25000 | PA      | $26043.08     | 0.03%             | 2029-02-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| 1011778 BC / NEW RED FIN                | 1011778 BC ULC / New Red Finance Inc                                            | CUSIP: 68245XAM1<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    600000 | PA      | $564270.12    | 0.76%             | 2030-10-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| OPEN TEXT INC                           | Open Text Holdings Inc                                                          | CUSIP: 683720AA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     75000 | PA      | $67079.48     | 0.09%             | 2030-02-15      | Fixed         | 4.13%                 | Yes           |                  2 | On Loan: No      |
| ORGANON & CO/ORGANON FOR                | Organon Finance 1 LLC                                                           | CUSIP: 68622TAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    225000 | PA      | $183596.60    | 0.25%             | 2031-04-30      | Fixed         | 5.13%                 | Yes           |                  2 | On Loan: No      |
| PANTHER ESCROW ISSUER                   | Panther Escrow Issuer LLC                                                       | CUSIP: 69867RAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $501932.00    | 0.67%             | 2031-06-01      | Fixed         | 7.13%                 | Yes           |                  2 | On Loan: No      |
| PERFORMANCE FOOD GROUP I                | Performance Food Group Inc                                                      | CUSIP: 71376LAH3<br>LEI: 549300OMUOGBYK0FFO76 | Long             | DBT              | CORP              | US        |    125000 | PA      | $120699.68    | 0.16%             | 2034-03-01      | Fixed         | 5.63%                 | Yes           |                  2 | On Loan: No      |
| POST HOLDINGS INC                       | Post Holdings Inc                                                               | CUSIP: 737446AU8<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101158.90    | 0.14%             | 2032-02-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| ROCKET COS INC                          | Rocket Cos Inc                                                                  | CUSIP: 77311WAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $202398.80    | 0.27%             | 2033-08-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| RYAN SPECIALTY                          | Ryan Specialty LLC                                                              | CUSIP: 78351GAA3<br>LEI: 549300K52N7QBO3PYY45 | Long             | DBT              | CORP              | US        |    275000 | PA      | $272021.64    | 0.36%             | 2032-08-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| SCIENCE APPLICATIONS INT                | Science Applications International Corp                                         | CUSIP: 808625AB3<br>LEI: 549300LZPNZIXQGZPZ48 | Long             | DBT              | CORP              | US        |    150000 | PA      | $146539.26    | 0.20%             | 2033-11-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| LIGHT & WONDER INTL INC                 | Scientific Games International Inc                                              | CUSIP: 80874YBE9<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101987.50    | 0.14%             | 2029-11-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| SEALED AIR CORP                         | Sealed Air Corp                                                                 | CUSIP: 812127AC2<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | DBT              | CORP              | US        |    100000 | PA      | $104958.45    | 0.14%             | 2032-07-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| SUBURBAN PROPANE PARTNRS                | Suburban Propane Partners LP/Suburban Energy Finance Corp                       | CUSIP: 864486AL9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    175000 | PA      | $164834.85    | 0.22%             | 2031-06-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| TALLGRASS NRG PRTNR/FIN                 | Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp                    | CUSIP: 87470LAM3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    350000 | PA      | $351986.95    | 0.47%             | 2034-03-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| TRANSALTA CORP                          | TransAlta Corp                                                                  | CUSIP: 89346DAL1<br>LEI: 984500EE2ADD850F1C96 | Long             | DBT              | CORP              | CA        |    125000 | PA      | $124536.80    | 0.17%             | 2034-02-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| USI INC/NY                              | USI Inc/NY                                                                      | CUSIP: 90346KAB5<br>LEI: 2549006D7UF7072T7I27 | Long             | DBT              | CORP              | US        |    500000 | PA      | $507204.50    | 0.68%             | 2032-01-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS                | Univision Communications Inc                                                    | CUSIP: 914906AX0<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |    175000 | PA      | $171604.09    | 0.23%             | 2030-06-30      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| XPLR INFRAST OPERATING                  | XPLR Infrastructure Operating Partners LP                                       | CUSIP: 98380MAA3<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |     50000 | PA      | $52662.30     | 0.07%             | 2031-01-15      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| AETHON UN/AETHIN UN FIN                 | Aethon United BR LP / Aethon United Finance Corp                                | CUSIP: 00810GAD6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $104355.00    | 0.14%             | 2029-10-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| GARDA WORLD SECURITY                    | Garda World Security Corp                                                       | CUSIP: 36485MAL3<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | DBT              | CORP              | CA        |     50000 | PA      | $47641.22     | 0.06%             | 2029-06-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| THE MEN'S WEARHOUSE LLC                 | Men's Wearhouse LLC/The                                                         | CUSIP: 587118AF7<br>LEI: NKFP7BJ6WYEV4I24P532 | Long             | DBT              | CORP              | US        |     25000 | PA      | $25674.40     | 0.03%             | 2031-02-01      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| QNITY ELECTRONICS INC                   | Qnity Electronics Inc                                                           | CUSIP: 74743LAB6<br>LEI: 254900RSUG4J9TFFZX53 | Long             | DBT              | CORP              | US        |     75000 | PA      | $75929.03     | 0.10%             | 2033-08-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| SIRIUS XM RADIO LLC                     | Sirius XM Radio LLC                                                             | CUSIP: 82966BAA3<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |    125000 | PA      | $124295.05    | 0.17%             | 2032-04-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                   | Tenet Healthcare Corp                                                           | CUSIP: 88033GDK3<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    210000 | PA      | $210608.88    | 0.28%             | 2028-10-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| VIAVI SOLUTIONS INC                     | Viavi Solutions Inc                                                             | CUSIP: 925550AF2<br>LEI: 5493006K3E3N1QOBF092 | Long             | DBT              | CORP              | US        |    250000 | PA      | $234780.13    | 0.31%             | 2029-10-01      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| WESCO DISTRIBUTION INC                  | WESCO Distribution Inc                                                          | CUSIP: 95081QAP9<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100614.85    | 0.13%             | 2028-06-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| WYNDHAM HOTELS & RESORTS                | Wyndham Hotels & Resorts Inc                                                    | CUSIP: 98311AAE5<br>LEI: 549300FE3MQ4RVXXC673 | Long             | DBT              | CORP              | US        |    125000 | PA      | $123118.38    | 0.16%             | 2033-03-01      | Fixed         | 5.63%                 | Yes           |                  2 | On Loan: No      |
| AUDACY CAPITAL                          | AUDACY CAPITAL                                                                  | CUSIP: 000000000<br>LEI: 549300S5JUSXRHNCHD80 | N/A              | DE               |  | US        |      1272 | NS      | $12.72        | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |

### Signature

**Date Signed:** 2026-05-22

**Name of Applicant:** Federated Hermes Insurance Series

**Signature:** Stephen Van Meter

**Name of Signer:** Federated Hermes Insurance Series

**Title:** Chief Compliance Officer