# EDGAR Filing Document

**Accession Number:** 0000875186
**File Stem:** 0001003715-25-000983
**Filing Date:** 2025-10
**Character Count:** 124979
**Document Hash:** 905c7a6e370a1bee22bf01286ec793bf
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001003715-25-000983.hdr.sgml**: 20251028

**ACCESSION NUMBER**: 0001003715-25-000983

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250831

**FILED AS OF DATE**: 20251028

**DATE AS OF CHANGE**: 20251028

**PERIOD START**: 20250831

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MORGAN STANLEY PATHWAY FUNDS
- **CENTRAL INDEX KEY:** 0000875186

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **FISCAL YEAR END:** 0831

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-06318
- **FILM NUMBER:** 251421852

**BUSINESS ADDRESS:**
- **STREET 1:** 2000 WESTCHESTER AVENUE
- **CITY:** PURCHASE
- **STATE:** NY
- **ZIP:** 10577
- **BUSINESS PHONE:** 8883749999

**MAIL ADDRESS:**
- **STREET 1:** 2000 WESTCHESTER AVENUE
- **CITY:** PURCHASE
- **STATE:** NY
- **ZIP:** 10577

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CONSULTING GROUP CAPITAL MARKETS FUNDS
- **DATE OF NAME CHANGE:** 19950125

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** TRUST FOR TRAK INVESTMENTS
- **DATE OF NAME CHANGE:** 19920929

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** INSTITUTIONAL ADVISORS PORTFOLIOS
- **DATE OF NAME CHANGE:** 19600201

## Series and Classes Contracts Data

### High Yield Fund (Series ID: S000008438)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000023146 | High Yield Fund | THYUX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** MORGAN STANLEY PATHWAY FUNDS

- **b. Investment Company Act file number:** 811-06318

- **c. CIK number of Registrant:** 0000875186

- **d. LEI of Registrant:** 549300P3RUTI9W6SLI87

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

  - **Street Address 1:** 2000 Westchester Avenue

  - **City:** Purchase

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10577

  - **Telephone number:** 888-454-3965

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

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

- **b. EDGAR series identifier (if any):** S000008438

- **c. LEI of Series:** 549300EX14KR2XJQP371

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

- **a. Date of fiscal year-end:** 2025-08-31

- **b. Date as of which information is reported:** 2025-08-31

**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:** $142744314.29

**Total Liabilities:** $1167550.70

**Net Assets:** $141576763.59

**Cash Not Reported:** $3870980.09

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -7.94845810 | **1-Year:** -257.86632016 | **5-Year:** -678.64969431 | **10-Year:** -269.91978471 | **30-Year:** 0.00000000

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

- **3-Month:** -360.38192913 | **1-Year:** -11704.92833099 | **5-Year:** -27049.20683208 | **10-Year:** -5408.39591806 | **30-Year:** -303.40945067

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000023146 | 2.13%                | 0.54%                | 1.48%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-59375.42               | $2137899.36                                |
| Month 2  | $-375840.61              | $389144.67                                 |
| Month 3  | $10697.61                | $1204495.65                                |

**Designated Index Information**

- **Index Name:** Securities Portfolio

- **Index Identifier:** SEC_PORT

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| LADDER CAP FIN  4.75% 06/15/29                      | LADDER CAP FIN LLLP/CORP REGD 144A P/P 4.75000000       | CUSIP: 505742AP1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    110000 | PA      | $107638.32    | 0.08%             | 2029-06-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| CARNIVAL CORP 5.75% 08/01/32                        | CARNIVAL CORP REGD 144A P/P 5.75000000                  | CUSIP: 143658CA8<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | US        |    420000 | PA      | $427875.00    | 0.30%             | 2032-08-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| SUNOCO LP 7.25% 05/01/32                            | SUNOCO LP REGD 144A P/P 7.25000000                      | CUSIP: 86765KAC3<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |    255000 | PA      | $269934.33    | 0.19%             | 2032-05-01      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| JANE STREET GRP 6.75% 05/01/33                      | JANE STREET GRP/JSG FIN REGD 144A P/P 6.75000000        | CUSIP: 47077WAE8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    123000 | PA      | $127180.28    | 0.09%             | 2033-05-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| ENERSYS 4.375% 12/15/27                             | ENERSYS REGD 144A P/P 4.37500000                        | CUSIP: 29275YAC6<br>LEI: 7ZS3DE5PN30BYUJFWP05 | Long             | DBT              | CORP              | US        |    485000 | PA      | $476927.81    | 0.34%             | 2027-12-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| STRATHCONA RES 6.875% 08/01/26                      | STRATHCONA RESOURCES REGD 144A P/P 6.87500000           | CUSIP: 86304TAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    874000 | PA      | $874559.80    | 0.62%             | 2026-08-01      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| EDGEWELL PERSO 4.125% 04/01/29                      | EDGEWELL PERSONAL CARE REGD 144A P/P 4.12500000         | CUSIP: 28035QAB8<br>LEI: 549300CY8QZDL4Z3RU59 | Long             | DBT              | CORP              | US        |    718000 | PA      | $684077.95    | 0.48%             | 2029-04-01      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| HUDBAY MINERALS  4.5% 04/01/26                      | HUDBAY MINERALS INC REGD 144A P/P 4.50000000            | CUSIP: 443628AJ1<br>LEI: 894500LX3TMESP27BE29 | Long             | DBT              | CORP              | CA        |     40000 | PA      | $39753.32     | 0.03%             | 2026-04-01      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| PHOENIX AVIATIO 9.25% 07/15/30                      | PHOENIX AVIATION CAPITAL REGD 144A P/P 9.25000000       | CUSIP: 71910DAA9<br>LEI: 8945008YQAKXZQ3VYJ15 | Long             | DBT              | CORP              | IE        |    495000 | PA      | $525079.17    | 0.37%             | 2030-07-15      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| ALBERTSONS COS/ 6.25% 03/15/33                      | ALBERTSONS COS/SAFEWAY REGD 144A P/P 6.25000000         | CUSIP: 01309QAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    355000 | PA      | $363506.51    | 0.26%             | 2033-03-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| STATION CASINO 6.625% 03/15/32                      | STATION CASINOS LLC REGD 144A P/P 6.62500000            | CUSIP: 857691AJ8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    802000 | PA      | $825409.58    | 0.58%             | 2032-03-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| DELEK LOG PART 8.625% 03/15/29                      | DELEK LOG PART/FINANCE REGD 144A P/P 8.62500000         | CUSIP: 24665FAD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    455000 | PA      | $475956.85    | 0.34%             | 2029-03-15      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| CLEVELAND-CLIF 7.375% 05/01/33                      | CLEVELAND-CLIFFS INC REGD 144A P/P 7.37500000           | CUSIP: 185899AR2<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |    660000 | PA      | $657963.57    | 0.46%             | 2033-05-01      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| HOWDEN UK REFIN 7.25% 02/15/31                      | HOWDEN UK REFINANCE / US REGD 144A P/P 7.25000000       | CUSIP: 44287GAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |    705000 | PA      | $728777.54    | 0.51%             | 2031-02-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| ALBERTSONS COS/S 3.5% 03/15/29                      | ALBERTSONS COS/SAFEWAY REGD 144A P/P 3.50000000         | CUSIP: 013092AG6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    505000 | PA      | $480661.68    | 0.34%             | 2029-03-15      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| MEDLINE BORROW 3.875% 04/01/29                      | MEDLINE BORROWER LP REGD 144A P/P 3.87500000            | CUSIP: 62482BAA0<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |    402000 | PA      | $386257.80    | 0.27%             | 2029-04-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| VMED O2 UK FINA 4.75% 07/15/31                      | VMED O2 UK FINAN REGD 144A P/P 4.75000000               | CUSIP: 92858RAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |    260000 | PA      | $243302.31    | 0.17%             | 2031-07-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| DELUXE CORP 8.125% 09/15/29                         | DELUXE CORP REGD 144A P/P 8.12500000                    | CUSIP: 248019AW1<br>LEI: KWGNKB8TX9LE5TV29231 | Long             | DBT              | CORP              | US        |    130000 | PA      | $135571.93    | 0.10%             | 2029-09-15      | Fixed         | 8.12%                 | Yes           |                  2 | On Loan: No      |
| CALPINE CORP 5% 02/01/31                            | CALPINE CORP REGD 144A P/P 5.00000000                   | CUSIP: 131347CQ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    523000 | PA      | $519064.68    | 0.37%             | 2031-02-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| MURPHY OIL USA  3.75% 02/15/31                      | MURPHY OIL USA INC REGD 144A P/P 3.75000000             | CUSIP: 626738AF5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    110000 | PA      | $101902.76    | 0.07%             | 2031-02-15      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| SIRIUS XM RADIO LL 4% 07/15/28                      | SIRIUS XM RADIO LLC REGD 144A P/P 4.00000000            | CUSIP: 82967NBJ6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    560000 | PA      | $541062.26    | 0.38%             | 2028-07-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| UNIVISION COMMUN 8.5% 07/31/31                      | UNIVISION COMMUNICATIONS REGD 144A P/P 8.50000000       | CUSIP: 914906AZ5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    430000 | PA      | $443511.03    | 0.31%             | 2031-07-31      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| TRAVEL + LEISURE 4.5% 12/01/29                      | TRAVEL + LEISURE CO REGD 144A P/P 4.50000000            | CUSIP: 894164AA0<br>LEI: T4VNTWMFQ7JQB65L7T35 | Long             | DBT              | CORP              | US        |    500000 | PA      | $484569.40    | 0.34%             | 2029-12-01      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| OPEN TEXT CORP 3.875% 12/01/29                      | OPEN TEXT CORP REGD 144A P/P 3.87500000                 | CUSIP: 683715AD8<br>LEI: 549300HP7ONDQODZJV16 | Long             | DBT              | CORP              | CA        |    260000 | PA      | $245290.86    | 0.17%             | 2029-12-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| CIVITAS RESOUR 9.625% 06/15/33                      | CIVITAS RESOURCES INC REGD 144A P/P 9.62500000          | CUSIP: 17888HAD5<br>LEI: IIVIHPH28S64K95M2381 | Long             | DBT              | CORP              | US        |    285000 | PA      | $301312.83    | 0.21%             | 2033-06-15      | Fixed         | 9.62%                 | Yes           |                  2 | On Loan: No      |
| MELCO RESORTS  5.375% 12/04/29                      | MELCO RESORTS FINANCE REGD 144A P/P 5.37500000          | CUSIP: 58547DAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | HK        |    820000 | PA      | $793099.33    | 0.56%             | 2029-12-04      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| CARNIVAL CORP 7% 08/15/29                           | CARNIVAL CORP REGD 144A P/P 7.00000000                  | CUSIP: 143658BW1<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | US        |    120000 | PA      | $126650.16    | 0.09%             | 2029-08-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| JB POINDEXTER & 8.75% 12/15/31                      | JB POINDEXTER & CO INC REGD 144A P/P 8.75000000         | CUSIP: 465965AC5<br>LEI: 549300W6P81HOZZGPQ16 | Long             | DBT              | CORP              | US        |     26000 | PA      | $26941.04     | 0.02%             | 2031-12-15      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| UNITED AIRLINE 4.625% 04/15/29                      | UNITED AIRLINES INC REGD 144A P/P 4.62500000            | CUSIP: 90932LAH0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    451000 | PA      | $444196.80    | 0.31%             | 2029-04-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| TALOS PRODUCTI 9.375% 02/01/31                      | TALOS PRODUCTION INC REGD 144A P/P 9.37500000           | CUSIP: 87485LAE4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    629000 | PA      | $652329.61    | 0.46%             | 2031-02-01      | Fixed         | 9.38%                 | Yes           |                  2 | On Loan: No      |
| DELUXE CORP 8% 06/01/29                             | DELUXE CORP REGD 144A P/P 8.00000000                    | CUSIP: 248019AU5<br>LEI: KWGNKB8TX9LE5TV29231 | Long             | DBT              | CORP              | US        |    822000 | PA      | $814561.34    | 0.58%             | 2029-06-01      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| FIRSTCASH INC 6.875% 03/01/32                       | FIRSTCASH INC REGD 144A P/P 6.87500000                  | CUSIP: 33767DAD7<br>LEI: 549300V2X3UU7K0DG350 | Long             | DBT              | CORP              | US        |     77000 | PA      | $79990.53     | 0.06%             | 2032-03-01      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| PETSMART LLC/PETS 10% 09/15/33                      | PETSMART LLC/PETSMART FI REGD 144A P/P 10.00000000      | CUSIP: 71677KAD0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    450000 | PA      | $442108.39    | 0.31%             | 2033-09-15      | Fixed         | 10.00%                | Yes           |                  2 | On Loan: No      |
| ENTEGRIS INC 5.95% 06/15/30                         | ENTEGRIS INC REGD 144A P/P 5.95000000                   | CUSIP: 29365BAB9<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | DBT              | CORP              | US        |    320000 | PA      | $324363.20    | 0.23%             | 2030-06-15      | Fixed         | 5.95%                 | Yes           |                  2 | On Loan: No      |
| METHANEX CORP 5.125% 10/15/27                       | METHANEX CORP REGD 5.12500000                           | CUSIP: 59151KAM0<br>LEI: 549300TSJHRXT9QXRD13 | Long             | DBT              | CORP              | CA        |    215000 | PA      | $214161.78    | 0.15%             | 2027-10-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| ROGERS COMMUNICAT V/R 04/15/55                      | ROGERS COMMUNICATIONS IN REGD V/R SER NC5 7.00000000    | CUSIP: 775109DG3<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |    286000 | PA      | $294009.43    | 0.21%             | 2055-04-15      | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| SEAWORLD PARKS  5.25% 08/15/29                      | SEAWORLD PARKS & ENTERTA REGD 144A P/P 5.25000000       | CUSIP: 81282UAG7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    753000 | PA      | $739656.53    | 0.52%             | 2029-08-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| MINERAL RESOUR 8.125% 05/01/27                      | MINERAL RESOURCES LTD REGD 144A P/P 8.12500000          | CUSIP: 603051AA1<br>LEI: 5299007V1ACKFFX2P066 | Long             | DBT              | CORP              | AU        |    268000 | PA      | $268341.43    | 0.19%             | 2027-05-01      | Fixed         | 8.12%                 | Yes           |                  2 | On Loan: No      |
| WALKER & DUNLO 6.625% 04/01/33                      | WALKER & DUNLOP INC REGD 144A P/P 6.62500000            | CUSIP: 93148PAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    475000 | PA      | $494546.25    | 0.35%             | 2033-04-01      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| ARCHROCK PARTNE 6.25% 04/01/28                      | ARCHROCK PARTNERS LP/FIN REGD 144A P/P 6.25000000       | CUSIP: 03959KAC4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    278000 | PA      | $279059.74    | 0.20%             | 2028-04-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| CRESCENT ENERG 8.375% 01/15/34                      | CRESCENT ENERGY FINANCE REGD 144A P/P 8.37500000        | CUSIP: 45344LAG8<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |    390000 | PA      | $396045.00    | 0.28%             | 2034-01-15      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| ILIAD HOLDING SA 8.5% 04/15/31                      | ILIAD HOLDING SAS REGD 144A P/P 8.50000000              | CUSIP: 449691AF1<br>LEI: 9695009PXA7OI9NXN582 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $215382.20    | 0.15%             | 2031-04-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| WARRIOR MET CO 7.875% 12/01/28                      | WARRIOR MET COAL INC REGD 144A P/P 7.87500000           | CUSIP: 93627CAB7<br>LEI: 549300152B1S9YKBYV79 | Long             | DBT              | CORP              | US        |    152000 | PA      | $155596.11    | 0.11%             | 2028-12-01      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| VALARIS LTD 8.375% 04/30/30                         | VALARIS LTD REGD 144A P/P 8.37500000                    | CUSIP: 91889FAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    741000 | PA      | $771953.05    | 0.55%             | 2030-04-30      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| IRIS HOLDING INC 10% 12/15/28                       | IRIS HOLDING INC REGD 144A P/P 10.00000000              | CUSIP: 462914AA0<br>LEI: 54930013SPZ2NB3I3V40 | Long             | DBT              | CORP              | US        |    728000 | PA      | $668699.30    | 0.47%             | 2028-12-15      | Fixed         | 10.00%                | Yes           |                  2 | On Loan: No      |
| NABORS INDUSTR 7.375% 05/15/27                      | NABORS INDUSTRIES INC REGD 144A P/P 7.37500000          | CUSIP: 62957HAJ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    283000 | PA      | $287906.65    | 0.20%             | 2027-05-15      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| PERRIGO FINANC 6.125% 09/30/32                      | PERRIGO FINANCE UNLIMITE REGD SER USD 6.12500000        | CUSIP: 71429MAD7<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |    940000 | PA      | $946758.60    | 0.67%             | 2032-09-30      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| ATI INC 4.875% 10/01/29                             | ATI INC REGD 4.87500000                                 | CUSIP: 01741RAL6<br>LEI: ZW1LRE7C3H17O2ZN9B45 | Long             | DBT              | CORP              | US        |    484000 | PA      | $474511.71    | 0.34%             | 2029-10-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| COMSTOCK RESOU 5.875% 01/15/30                      | COMSTOCK RESOURCES INC REGD 144A P/P 5.87500000         | CUSIP: 205768AT1<br>LEI: I03QQGEA4SS774AURI46 | Long             | DBT              | CORP              | US        |    170000 | PA      | $159654.60    | 0.11%             | 2030-01-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| SHIFT4 PAYMENTS 6.75% 08/15/32                      | SHIFT4 PAYMENTS LLC/FIN REGD 144A P/P 6.75000000        | CUSIP: 82453AAB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    522000 | PA      | $541558.82    | 0.38%             | 2032-08-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| TEVA PHARMACEU 8.125% 09/15/31                      | TEVA PHARMACEUTICALS NE REGD SER . 8.12500000           | CUSIP: 88167AAR2<br>LEI: N/A                  | Long             | DBT              | CORP              | NL        |    270000 | PA      | $307050.21    | 0.22%             | 2031-09-15      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| PARAMOUNT GLOBAL V/R 02/28/57                       | PARAMOUNT GLOBAL REGD V/R 6.25000000                    | CUSIP: 92553PBC5<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |    619000 | PA      | $602948.24    | 0.43%             | 2057-02-28      | Variable      | 6.25%                 | No            |                  2 | On Loan: No      |
| VERITIV OPERATI 10.5% 11/30/30                      | VERITIV OPERATING CO REGD 144A P/P 10.50000000          | CUSIP: 92339LAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    610000 | PA      | $660890.47    | 0.47%             | 2030-11-30      | Fixed         | 10.50%                | Yes           |                  2 | On Loan: No      |
| RAISING CANE'S 9.375% 05/01/29                      | RAISING CANE'S RESTAURAN REGD 144A P/P 9.37500000       | CUSIP: 75103AAA3<br>LEI: 254900V6ADXFWHYOED66 | Long             | DBT              | CORP              | US        |    495000 | PA      | $522388.85    | 0.37%             | 2029-05-01      | Fixed         | 9.38%                 | Yes           |                  2 | On Loan: No      |
| CHAMPIONS FINAN 8.75% 02/15/29                      | CHAMPIONS FINANCING INC REGD 144A P/P 8.75000000        | CUSIP: 15870LAA6<br>LEI: 391200ZDD75EGEUJ7625 | Long             | DBT              | CORP              | US        |    709000 | PA      | $678406.37    | 0.48%             | 2029-02-15      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| SEAGATE DATA S 4.125% 01/15/31                      | SEAGATE DATA STOR REGD 144A P/P 4.12500000              | CUSIP: 81180LAN5<br>LEI: N/A                  | Long             | DBT              | CORP              | SG        |    188000 | PA      | $171833.10    | 0.12%             | 2031-01-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| NRG ENERGY INC 6.25% 11/01/34                       | NRG ENERGY INC REGD 144A P/P 6.25000000                 | CUSIP: 629377CX8<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    170000 | PA      | $174391.61    | 0.12%             | 2034-11-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| PRIME SECSRVC B 6.25% 01/15/28                      | PRIME SECSRVC BRW/FINANC REGD 144A P/P 6.25000000       | CUSIP: 74166MAE6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    540000 | PA      | $540332.64    | 0.38%             | 2028-01-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| BURFORD CAPITAL 6.25% 04/15/28                      | BURFORD CAPITAL GLBL FIN REGD 144A P/P 6.25000000       | CUSIP: 12116LAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    513000 | PA      | $512475.00    | 0.36%             | 2028-04-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| ANA INTL/ANA HOLD 10% 08/15/26                      | ANA INTL/ANA HOLD REGD 144A P/P 0.00000000              | CUSIP: 03254TAC7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     12101 | PA      | $0.00         | 0.00%             | 2026-08-15      | Fixed         | 0.00%                 | Yes           |                  3 | On Loan: No      |
| NGL ENRGY OP/F 8.375% 02/15/32                      | NGL ENRGY OP/FIN CORP REGD 144A P/P 8.37500000          | CUSIP: 62922LAD0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    459000 | PA      | $467285.41    | 0.33%             | 2032-02-15      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| ARCHROCK PARTN 6.625% 09/01/32                      | ARCHROCK PARTNERS LP/FIN REGD 144A P/P 6.62500000       | CUSIP: 03959KAD2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    375000 | PA      | $384708.75    | 0.27%             | 2032-09-01      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| CREDIT ACCEPTAN 9.25% 12/15/28                      | CREDIT ACCEPTANC REGD 144A P/P 9.25000000               | CUSIP: 225310AQ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    627000 | PA      | $662685.08    | 0.47%             | 2028-12-15      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| AIR LEASE CORP V/R /PERP/                           | AIR LEASE CORP REGD V/R /PERP/ SER B 4.65000000         | CUSIP: 00912XBJ2<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |    414000 | PA      | $410601.31    | 0.29%             | 2174-06-15      | Variable      | 4.65%                 | No            |                  2 | On Loan: No      |
| BOOST NEWCO BORR 7.5% 01/15/31                      | BOOST NEWCO BORROWER LLC REGD 144A P/P 7.50000000       | CUSIP: 36268NAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    510000 | PA      | $541426.20    | 0.38%             | 2031-01-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| MOBIUS MERGER SUB 9% 06/01/30                       | MOBIUS MERGER SUB REGD 144A P/P 9.00000000              | CUSIP: 606950AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    890000 | PA      | $786620.36    | 0.56%             | 2030-06-01      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| JANE STREET GR 7.125% 04/30/31                      | JANE STREET GRP/JSG FIN REGD 144A P/P 7.12500000        | CUSIP: 47077WAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    405000 | PA      | $423419.00    | 0.30%             | 2031-04-30      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| FOCUS FINANCIAL 6.75% 09/15/31                      | FOCUS FINANCIAL PARTNERS REGD 144A P/P 6.75000000       | CUSIP: 34417VAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    715000 | PA      | $739474.45    | 0.52%             | 2031-09-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| PERFORMANCE FOO 4.25% 08/01/29                      | PERFORMANCE FOOD GROUP I REGD 144A P/P 4.25000000       | CUSIP: 71376LAE0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    360000 | PA      | $348819.12    | 0.25%             | 2029-08-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| NGL ENRGY OP/F 8.125% 02/15/29                      | NGL ENRGY OP/FIN CORP REGD 144A P/P 8.12500000          | CUSIP: 62922LAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    392000 | PA      | $400169.67    | 0.28%             | 2029-02-15      | Fixed         | 8.12%                 | Yes           |                  2 | On Loan: No      |
| LAND O LAKES CA 7.45% 03/15/28                      | LAND O LAKES CAP TRST I REGD P/P 7.45000000             | CUSIP: 514665AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    131000 | PA      | $133200.01    | 0.09%             | 2028-03-15      | Fixed         | 7.45%                 | Yes           |                  2 | On Loan: No      |
| GENESIS ENERGY 8.875% 04/15/30                      | GENESIS ENERGY LP/FIN REGD 8.87500000                   | CUSIP: 37185LAN2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    510000 | PA      | $540278.70    | 0.38%             | 2030-04-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| SUNRISE FINCO  4.875% 07/15/31                      | SUNRISE FINCO I BV REGD 144A P/P 4.87500000             | CUSIP: 90320BAA7<br>LEI: 213800MNFBDEQRS6HZ22 | Long             | DBT              | CORP              | NL        |    727000 | PA      | $694895.68    | 0.49%             | 2031-07-15      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| AIR CANADA 3.875% 08/15/26                          | AIR CANADA REGD 144A P/P 3.87500000                     | CUSIP: 008911BK4<br>LEI: 4B4HI3CGXMBDC0G6BM51 | Long             | DBT              | CORP              | CA        |    405000 | PA      | $400441.32    | 0.28%             | 2026-08-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| T/L ARCTIC CANADIAN DIAMOND COMPANY LTD 0% 12/31/27 | T/L ARCTIC CANADIAN DIAMOND COMPANY LTD REGD 0.00000000 | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    360705 | PA      | $341763.55    | 0.24%             | 2027-12-31      | Variable      | 10.00%                | No            |                  2 | On Loan: No      |
| JANE STREET GRP/ 4.5% 11/15/29                      | JANE STREET GRP/JSG FIN REGD 144A P/P 4.50000000        | CUSIP: 47077WAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $193302.58    | 0.14%             | 2029-11-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| COMMERCIAL MET 3.875% 02/15/31                      | COMMERCIAL METALS CO REGD 3.87500000                    | CUSIP: 201723AP8<br>LEI: 549300OQS2LO07ZJ7N73 | Long             | DBT              | CORP              | US        |    665000 | PA      | $619656.84    | 0.44%             | 2031-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| OPEN TEXT CORP 3.875% 02/15/28                      | OPEN TEXT CORP REGD 144A P/P 3.87500000                 | CUSIP: 683715AC0<br>LEI: 549300HP7ONDQODZJV16 | Long             | DBT              | CORP              | CA        |     20000 | PA      | $19455.45     | 0.01%             | 2028-02-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| AVIS BUDGET CA 5.375% 03/01/29                      | AVIS BUDGET CAR/FINANCE REGD P/P 5.37500000             | CUSIP: 053773BF3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    306000 | PA      | $297334.36    | 0.21%             | 2029-03-01      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| FIRSTCASH INC 4.625% 09/01/28                       | FIRSTCASH INC REGD 144A P/P 4.62500000                  | CUSIP: 33767DAB1<br>LEI: 549300V2X3UU7K0DG350 | Long             | DBT              | CORP              | US        |    432000 | PA      | $424505.58    | 0.30%             | 2028-09-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| MURPHY OIL USA  4.75% 09/15/29                      | MURPHY OIL USA INC REGD 4.75000000                      | CUSIP: 626738AE8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    415000 | PA      | $408593.35    | 0.29%             | 2029-09-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CUSHMAN & WAKE 8.875% 09/01/31                      | CUSHMAN & WAKEFIELD US REGD 144A P/P 8.87500000         | CUSIP: 23166MAC7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    380000 | PA      | $408006.38    | 0.29%             | 2031-09-01      | Fixed         | 8.88%                 | Yes           |                  2 | On Loan: No      |
| C&S GROUP ENTERPRI 5% 12/15/28                      | C&S GROUP ENTERPRISES LL REGD 144A P/P 5.00000000       | CUSIP: 12467AAF5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    767000 | PA      | $698134.60    | 0.49%             | 2028-12-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| PRIME SECSRVC  3.375% 08/31/27                      | PRIME SECSRVC BRW/FINANC REGD 144A P/P 3.37500000       | CUSIP: 74166MAF3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    231000 | PA      | $223989.22    | 0.16%             | 2027-08-31      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| VFH PARENT / VAL 7.5% 06/15/31                      | VFH PARENT / VALOR CO REGD 144A P/P 7.50000000          | CUSIP: 91824YAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    710000 | PA      | $748755.35    | 0.53%             | 2031-06-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| FIRSTCASH INC 5.625% 01/01/30                       | FIRSTCASH INC REGD 144A P/P 5.62500000                  | CUSIP: 31944TAA8<br>LEI: 549300V2X3UU7K0DG350 | Long             | DBT              | CORP              | US        |    187000 | PA      | $186811.75    | 0.13%             | 2030-01-01      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| GEN DIGITAL INC 6.75% 09/30/27                      | GEN DIGITAL INC REGD 144A P/P 6.75000000                | CUSIP: 668771AK4<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | DBT              | CORP              | US        |    101000 | PA      | $102873.55    | 0.07%             | 2027-09-30      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| MOLINA HEALTHC 3.875% 11/15/30                      | MOLINA HEALTHCARE INC REGD 144A P/P 3.87500000          | CUSIP: 60855RAK6<br>LEI: 549300NQQCEQ46YHZ591 | Long             | DBT              | CORP              | US        |    715000 | PA      | $657260.68    | 0.46%             | 2030-11-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| KOHL'S CORPORA 5.125% 05/01/31                      | KOHL'S CORPORATION REGD 5.12500000                      | CUSIP: 500255AX2<br>LEI: 549300JF6LPRTRJ0FH50 | Long             | DBT              | CORP              | US        |   1467000 | PA      | $1161579.11   | 0.82%             | 2031-05-01      | Variable      | 5.12%                 | No            |                  2 | On Loan: No      |
| NCL CORPORATIO 8.125% 01/15/29                      | NCL CORPORATION LTD REGD 144A P/P 8.12500000            | CUSIP: 62886HBN0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    230000 | PA      | $242016.35    | 0.17%             | 2029-01-15      | Fixed         | 8.12%                 | Yes           |                  2 | On Loan: No      |
| COBRA ACQUISIT 6.375% 11/01/29                      | COBRA ACQUISITIONCO LLC REGD 144A P/P 6.37500000        | CUSIP: 19106CAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    905000 | PA      | $787519.87    | 0.56%             | 2029-11-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| STAR LEASING C 7.625% 02/15/30                      | STAR LEASING CO LLC REGD 144A P/P 7.62500000            | CUSIP: 854938AA5<br>LEI: 549300WXKNX4PT3HSN71 | Long             | DBT              | CORP              | US        |    670000 | PA      | $663144.29    | 0.47%             | 2030-02-15      | Fixed         | 7.62%                 | Yes           |                  2 | On Loan: No      |
| CLOUD SOFTWARE  8.25% 06/30/32                      | CLOUD SOFTWARE GRP INC REGD 144A P/P 8.25000000         | CUSIP: 18912UAC6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    370000 | PA      | $395866.70    | 0.28%             | 2032-06-30      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| HUDBAY MINERAL 6.125% 04/01/29                      | HUDBAY MINERALS INC REGD 144A P/P 6.12500000            | CUSIP: 443628AH5<br>LEI: 894500LX3TMESP27BE29 | Long             | DBT              | CORP              | CA        |    482000 | PA      | $487539.14    | 0.34%             | 2029-04-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| AMERICAN AIRLINE 8.5% 05/15/29                      | AMERICAN AIRLINES INC REGD 144A P/P 8.50000000          | CUSIP: 023771T40<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    240000 | PA      | $251657.04    | 0.18%             | 2029-05-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| JONES DESLAURIER 8.5% 03/15/30                      | JONES DESLAURIERS INSURA REGD 144A P/P 8.50000000       | CUSIP: 48020RAB1<br>LEI: 549300JQIWNFU00E5424 | Long             | DBT              | CORP              | CA        |    557000 | PA      | $589536.68    | 0.42%             | 2030-03-15      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| ITT HOLDINGS LLC 6.5% 08/01/29                      | ITT HOLDINGS LLC REGD 144A P/P 6.50000000               | CUSIP: 45074JAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1177516.20   | 0.83%             | 2029-08-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| CAPSTONE BORROWER  8% 06/15/30                      | CAPSTONE BORROWER INC REGD 144A P/P 8.00000000          | CUSIP: 140944AA7<br>LEI: 254900YSP2BAI3YKIX08 | Long             | DBT              | CORP              | US        |    635000 | PA      | $665197.43    | 0.47%             | 2030-06-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| STANDARD INDUS 3.375% 01/15/31                      | STANDARD INDUSTRI INC/NY REGD 144A P/P 3.37500000       | CUSIP: 853496AH0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    615000 | PA      | $558523.78    | 0.39%             | 2031-01-15      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| CLOUD SOFTWARE 6.625% 08/15/33                      | CLOUD SOFTWARE GRP INC REGD 144A P/P 6.62500000         | CUSIP: 18912UAG7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    365000 | PA      | $370249.65    | 0.26%             | 2033-08-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| GENESIS ENERGY  8.25% 01/15/29                      | GENESIS ENERGY LP/FIN REGD 8.25000000                   | CUSIP: 37185LAP7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    349000 | PA      | $364336.11    | 0.26%             | 2029-01-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY  6.25% 04/15/32                      | HILCORP ENERGY I/HILCORP REGD 144A P/P 6.25000000       | CUSIP: 431318AZ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    590000 | PA      | $565259.24    | 0.40%             | 2032-04-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| UNIVISION COMM 7.375% 06/30/30                      | UNIVISION COMMUNICATIONS REGD 144A P/P 7.37500000       | CUSIP: 914906AX0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    112000 | PA      | $112700.59    | 0.08%             | 2030-06-30      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| HERC HOLDINGS INC 7% 06/15/30                       | HERC HOLDINGS INC REGD 144A P/P 7.00000000              | CUSIP: 42704LAF1<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |    219000 | PA      | $228067.22    | 0.16%             | 2030-06-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| PANTHER ESCROW 7.125% 06/01/31                      | PANTHER ESCROW ISSUER REGD 144A P/P 7.12500000          | CUSIP: 69867RAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    585000 | PA      | $607663.49    | 0.43%             | 2031-06-01      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| C&W SENIOR FINANCE 9% 01/15/33                      | C&W SENIOR FINANCE LTD REGD 144A P/P 9.00000000         | CUSIP: 12665MAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    610000 | PA      | $641181.37    | 0.45%             | 2033-01-15      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| ARDAGH METAL PACKA 6% 06/15/27                      | ARDAGH METAL PACKAGING REGD 144A P/P 6.00000000         | CUSIP: 03969YAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    210000 | PA      | $210191.52    | 0.15%             | 2027-06-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| GOEASY LTD 6.875% 05/15/30                          | GOEASY LTD REGD 144A P/P 6.87500000                     | CUSIP: 380355AM9<br>LEI: 5493009DJVZG2P8YV435 | Long             | DBT              | CORP              | CA        |    395000 | PA      | $401517.11    | 0.28%             | 2030-05-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| MATCH GROUP HL 3.625% 10/01/31                      | MATCH GROUP HLD II LLC REGD 144A P/P 3.62500000         | CUSIP: 57667JAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    149000 | PA      | $134580.27    | 0.10%             | 2031-10-01      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| VIRGIN MEDIA FINAN 5% 07/15/30                      | VIRGIN MEDIA FINANCE PLC REGD 144A P/P 5.00000000       | CUSIP: 92769VAJ8<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |    817000 | PA      | $747946.02    | 0.53%             | 2030-07-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| MATCH GROUP HL 6.125% 09/15/33                      | MATCH GROUP HLD II LLC REGD 144A P/P 6.12500000         | CUSIP: 57667JAC6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    265000 | PA      | $268264.69    | 0.19%             | 2033-09-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| ESC CB144A P 7.5% 04/01/27                          | ESC CB144A PAR PHARMAC REGD    144A P/P 7.50000000      | CUSIP: 698ESCAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    230000 | PA      | $0.00         | 0.00%             | 2027-04-01      | Fixed         | 7.50%                 | Yes           |                  3 | On Loan: No      |
| CUSHMAN & WAKEF 6.75% 05/15/28                      | CUSHMAN & WAKEFIELD US REGD 144A P/P 6.75000000         | CUSIP: 23166MAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    338000 | PA      | $341569.96    | 0.24%             | 2028-05-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| CLEVELAND-CLIFF 6.25% 10/01/40                      | CLEVELAND-CLIFFS INC REGD 6.25000000                    | CUSIP: 18683KAC5<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |     48000 | PA      | $39886.26     | 0.03%             | 2040-10-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| HOWARD MIDSTRE 7.375% 07/15/32                      | HOWARD MIDSTREAM ENERGY REGD 144A P/P 7.37500000        | CUSIP: 442722AC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    775000 | PA      | $808586.18    | 0.57%             | 2032-07-15      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| KENNEDY-WILSON  4.75% 03/01/29                      | KENNEDY-WILSON INC REGD 4.75000000                      | CUSIP: 489399AL9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    925000 | PA      | $881632.12    | 0.62%             | 2029-03-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/ 6.375% 09/01/29                      | CCO HLDGS LLC/CAP CORP REGD 144A P/P 6.37500000         | CUSIP: 1248EPCS0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    509000 | PA      | $517118.04    | 0.37%             | 2029-09-01      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| VISTRA OPERATION 4.3% 07/15/29                      | VISTRA OPERATIONS CO LLC REGD 144A P/P 4.30000000       | CUSIP: 92840VAE2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    546000 | PA      | $540803.91    | 0.38%             | 2029-07-15      | Fixed         | 4.30%                 | Yes           |                  2 | On Loan: No      |
| SOTERA HEALTH  7.375% 06/01/31                      | SOTERA HEALTH HLDGS LLC REGD 144A P/P 7.37500000        | CUSIP: 83600WAE9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    462000 | PA      | $486205.57    | 0.34%             | 2031-06-01      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| NOVELIS CORP 6.375% 08/15/33                        | NOVELIS CORP REGD 144A P/P 6.37500000                   | CUSIP: 670001AN6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    534000 | PA      | $540061.60    | 0.38%             | 2033-08-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| NRG ENERGY INC 5.75% 01/15/28                       | NRG ENERGY INC REGD SER WI 5.75000000                   | CUSIP: 629377CE0<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    174000 | PA      | $174666.25    | 0.12%             | 2028-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CONCENTRA HEAL 6.875% 07/15/32                      | CONCENTRA HEALTH SERVICE REGD 144A P/P 6.87500000       | CUSIP: 20600DAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    778000 | PA      | $807539.10    | 0.57%             | 2032-07-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| STONEPEAK NILE  7.25% 03/15/32                      | STONEPEAK NILE PARENT REGD 144A P/P 7.25000000          | CUSIP: 861932AA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    663000 | PA      | $696374.76    | 0.49%             | 2032-03-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| QXO BUILDING PR 6.75% 04/30/32                      | QXO BUILDING PRODUCTS REGD 144A P/P 6.75000000          | CUSIP: 74825NAA5<br>LEI: 549300HDXQWWCBOYXP31 | Long             | DBT              | CORP              | US        |    257000 | PA      | $266073.32    | 0.19%             | 2032-04-30      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| VIASAT INC 7.5% 05/30/31                            | VIASAT INC REGD 144A P/P 7.50000000                     | CUSIP: 92552VAR1<br>LEI: UFC8NYMNFSYIHNSM2I38 | Long             | DBT              | CORP              | US        |    667000 | PA      | $626979.91    | 0.44%             | 2031-05-30      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| ROYAL CARIBBEAN 6.25% 03/15/32                      | ROYAL CARIBBEAN CRUISES REGD 144A P/P 6.25000000        | CUSIP: 780153BU5<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | US        |    290000 | PA      | $299484.45    | 0.21%             | 2032-03-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| ROGERS COMMUNICAT V/R 04/15/55                      | ROGERS COMMUNICATIONS IN REGD V/R 7.12500000            | CUSIP: 775109DH1<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |    404000 | PA      | $419408.08    | 0.30%             | 2055-04-15      | Variable      | 7.12%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC 3.625% 02/15/31                      | NRG ENERGY INC REGD 144A P/P 3.62500000                 | CUSIP: 629377CR1<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    597000 | PA      | $551036.37    | 0.39%             | 2031-02-15      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| NCL CORPORATION 7.75% 02/15/29                      | NCL CORPORATION LTD REGD 144A P/P 7.75000000            | CUSIP: 62886HBG5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    374000 | PA      | $399804.50    | 0.28%             | 2029-02-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| INSULET CORPORAT 6.5% 04/01/33                      | INSULET CORPORATION REGD 144A P/P 6.50000000            | CUSIP: 45784PAL5<br>LEI: 549300TZTYD2PYN92D43 | Long             | DBT              | CORP              | US        |    470000 | PA      | $487649.91    | 0.34%             | 2033-04-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| NRG ENERGY INC 5.25% 06/15/29                       | NRG ENERGY INC REGD 144A P/P 5.25000000                 | CUSIP: 629377CH3<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    290000 | PA      | $289357.01    | 0.20%             | 2029-06-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| ILIAD HOLDING SAS 7% 04/15/32                       | ILIAD HOLDING SAS REGD 144A P/P 7.00000000              | CUSIP: 449691AG9<br>LEI: 9695009PXA7OI9NXN582 | Long             | DBT              | CORP              | FR        |    985000 | PA      | $1014397.33   | 0.72%             | 2032-04-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| ALTICE FINANCING S 5% 01/15/28                      | ALTICE FINANCING SA REGD 144A P/P 5.00000000            | CUSIP: 02154CAF0<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |   1264000 | PA      | $1033395.87   | 0.73%             | 2028-01-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| NCL FINANCE LT 6.125% 03/15/28                      | NCL FINANCE LTD REGD 144A P/P 6.12500000                | CUSIP: 62888HAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    180000 | PA      | $182700.18    | 0.13%             | 2028-03-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| T/L GANNETT HOLD 0% 09/24/29                        | T/L GANNETT HOLDINGS LLC 0.00000000                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    116115 | PA      | $115607.31    | 0.08%             | 2029-09-24      | Variable      | 9.19%                 | No            |                  2 | On Loan: No      |
| ALLY FINANCIAL I 6.7% 02/14/33                      | ALLY FINANCIAL INC REGD 6.70000000                      | CUSIP: 02005NBS8<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |   1052000 | PA      | $1093112.29   | 0.77%             | 2033-02-14      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| HARVEST MIDSTREA 7.5% 05/15/32                      | HARVEST MIDSTREAM I LP REGD 144A P/P 7.50000000         | CUSIP: 417558AB9<br>LEI: 549300DW5M17KJOXCY66 | Long             | DBT              | CORP              | US        |    510000 | PA      | $525713.10    | 0.37%             | 2032-05-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| DAVITA INC 6.75% 07/15/33                           | DAVITA INC REGD 144A P/P 6.75000000                     | CUSIP: 23918KAY4<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |    683000 | PA      | $708327.69    | 0.50%             | 2033-07-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| STARWOOD PROPER 7.25% 04/01/29                      | STARWOOD PROPERTY TRUST REGD 144A P/P 7.25000000        | CUSIP: 85571BBB0<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              | CORP              | US        |    130000 | PA      | $136464.51    | 0.10%             | 2029-04-01      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| VMED O2 UK FINA 7.75% 04/15/32                      | VMED O2 UK FINANCING I REGD 144A P/P 7.75000000         | CUSIP: 92858RAD2<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |    270000 | PA      | $282775.86    | 0.20%             | 2032-04-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| SERVICE PROPER 8.875% 06/15/32                      | SERVICE PROPERTIES TRUST REGD 8.87500000                | CUSIP: 81761LAE2<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              | CORP              | US        |    478000 | PA      | $493607.36    | 0.35%             | 2032-06-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| STARWOOD PROPERT 6.5% 07/01/30                      | STARWOOD PROPERTY TRUST REGD 144A P/P 6.50000000        | CUSIP: 85571BBD6<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              | CORP              | US        |    530000 | PA      | $550441.57    | 0.39%             | 2030-07-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| MATTAMY GROUP C 5.25% 12/15/27                      | MATTAMY GROUP CORP REGD 144A P/P 5.25000000             | CUSIP: 57701RAJ1<br>LEI: 5493008TNY7A82WCXU31 | Long             | DBT              | CORP              | CA        |    201000 | PA      | $200411.21    | 0.14%             | 2027-12-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| RFNA LP 7.875% 02/15/30                             | RFNA LP REGD 144A P/P 7.87500000                        | CUSIP: 74984AAA0<br>LEI: 2549002A4GSOTYKKHR45 | Long             | DBT              | CORP              | US        |    505000 | PA      | $523053.75    | 0.37%             | 2030-02-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| HAT HOLDINGS I 3.375% 06/15/26                      | HAT HOLDINGS I LLC/HAT REGD 144A P/P 3.37500000         | CUSIP: 418751AE3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     56000 | PA      | $55273.10     | 0.04%             | 2026-06-15      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| TELESAT CANADA 4.875% 06/01/27                      | TELESAT CANADA/TELESAT L REGD 144A P/P 4.87500000       | CUSIP: 87952VAP1<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    590000 | PA      | $432175.00    | 0.31%             | 2027-06-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| MINERAL RESOURC 9.25% 10/01/28                      | MINERAL RESOURCES LTD REGD 144A P/P 9.25000000          | CUSIP: 603051AE3<br>LEI: 5299007V1ACKFFX2P066 | Long             | DBT              | CORP              | AU        |    398000 | PA      | $416370.88    | 0.29%             | 2028-10-01      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| IMOLA MERGER CO 4.75% 05/15/29                      | IMOLA MERGER CORP REGD 144A P/P 4.75000000              | CUSIP: 45258LAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    700000 | PA      | $682976.91    | 0.48%             | 2029-05-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP 9% 09/30/29                      | CLOUD SOFTWARE GRP INC REGD 144A P/P 9.00000000         | CUSIP: 18912UAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    140000 | PA      | $146005.71    | 0.10%             | 2029-09-30      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| CLYDESDALE ACQU 8.75% 04/15/30                      | CLYDESDALE ACQUISITION REGD 144A P/P 8.75000000         | CUSIP: 18972EAB1<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |    708000 | PA      | $730111.55    | 0.52%             | 2030-04-15      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| SERVICE PROPER 8.375% 06/15/29                      | SERVICE PROPERTIES TRUST REGD 8.37500000                | CUSIP: 81761LAD4<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              | CORP              | US        |    180000 | PA      | $185873.22    | 0.13%             | 2029-06-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY 8.375% 11/01/33                      | HILCORP ENERGY I/HILCORP REGD 144A P/P 8.37500000       | CUSIP: 431318BC7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $156675.00    | 0.11%             | 2033-11-01      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| AVIS BUDGET CA 8.375% 06/15/32                      | AVIS BUDGET CAR/FINANCE REGD 144A P/P 8.37500000        | CUSIP: 053773BK2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    207000 | PA      | $216204.05    | 0.15%             | 2032-06-15      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| COMSTOCK RESOUR 6.75% 03/01/29                      | COMSTOCK RESOURCES INC REGD 144A P/P 6.75000000         | CUSIP: 205768AS3<br>LEI: I03QQGEA4SS774AURI46 | Long             | DBT              | CORP              | US        |    505000 | PA      | $498284.96    | 0.35%             | 2029-03-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| ANTERO MIDSTREA 5.75% 01/15/28                      | ANTERO MIDSTREAM PART/FI REGD 144A P/P 5.75000000       | CUSIP: 03690AAF3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    405000 | PA      | $406334.88    | 0.29%             | 2028-01-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| EXCELERATE ENERGY  8% 05/15/30                      | EXCELERATE ENERGY LP REGD 144A P/P 8.00000000           | CUSIP: 30069UAA6<br>LEI: LGL4IE90TNTFYJ55BK06 | Long             | DBT              | CORP              | US        |    655000 | PA      | $697565.83    | 0.49%             | 2030-05-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| OPEN TEXT INC 4.125% 12/01/31                       | OPEN TEXT INC REGD 144A P/P 4.12500000                  | CUSIP: 683720AC0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    240000 | PA      | $221028.40    | 0.16%             | 2031-12-01      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| ALBERTSONS COS 5.875% 02/15/28                      | ALBERTSONS COS/SAFEWAY REGD 144A P/P 5.87500000         | CUSIP: 013092AB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    372000 | PA      | $372240.13    | 0.26%             | 2028-02-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| BELO CORP 7.75% 06/01/27                            | BELO CORP REGD 7.75000000                               | CUSIP: 080555AE5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    345000 | PA      | $359643.53    | 0.25%             | 2027-06-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| RACKSPACE FINANC 3.5% 05/15/28                      | RACKSPACE FINANCE LLC REGD 144A P/P 3.50000000          | CUSIP: 75008WAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1116480 | PA      | $540301.18    | 0.38%             | 2028-05-15      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| CAPSTONE COPPER 6.75% 03/31/33                      | CAPSTONE COPPER CORP REGD 144A P/P 6.75000000           | CUSIP: 14071LAA6<br>LEI: 549300III6KGKKC42W63 | Long             | DBT              | CORP              | CA        |    470000 | PA      | $483084.80    | 0.34%             | 2033-03-31      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| TEGNA INC 4.625% 03/15/28                           | TEGNA INC REGD 4.62500000                               | CUSIP: 87901JAJ4<br>LEI: 549300YC5EDBGX85AO10 | Long             | DBT              | CORP              | US        |    345000 | PA      | $343491.80    | 0.24%             | 2028-03-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| AVIS BUDGET CAR 8.25% 01/15/30                      | AVIS BUDGET CAR/FINANCE REGD 144A P/P 8.25000000        | CUSIP: 053773BJ5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    170000 | PA      | $176117.38    | 0.12%             | 2030-01-15      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| ONT GAMING GTA/OTG 8% 08/01/30                      | ONT GAMING GTA/OTG CO-IS REGD 144A P/P 8.00000000       | CUSIP: 68306MAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    795000 | PA      | $801007.02    | 0.57%             | 2030-08-01      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| SIRIUS XM RADI 3.875% 09/01/31                      | SIRIUS XM RADIO LLC REGD 144A P/P 3.87500000            | CUSIP: 82967NBM9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    846000 | PA      | $761294.50    | 0.54%             | 2031-09-01      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| VITAL ENERGY I 7.875% 04/15/32                      | VITAL ENERGY INC REGD 144A P/P 7.87500000               | CUSIP: 516806AK2<br>LEI: 549300X0PTWU2QSLSL14 | Long             | DBT              | CORP              | US        |    810000 | PA      | $798674.26    | 0.56%             | 2032-04-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| METHANEX CORP 5.25% 12/15/29                        | METHANEX CORP REGD 5.25000000                           | CUSIP: 59151KAL2<br>LEI: 549300TSJHRXT9QXRD13 | Long             | DBT              | CORP              | CA        |      4000 | PA      | $3976.80      | 0.00%             | 2029-12-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NCL CORPORATIO 5.875% 02/15/27                      | NCL CORPORATION LTD REGD 144A P/P 5.87500000            | CUSIP: 62886HBE0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    270000 | PA      | $270755.19    | 0.19%             | 2027-02-15      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| CLOUD SOFTWARE G 6.5% 03/31/29                      | CLOUD SOFTWARE GRP INC REGD 144A P/P 6.50000000         | CUSIP: 88632QAE3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    355000 | PA      | $359189.36    | 0.25%             | 2029-03-31      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| CONSOLIDATED E 5.625% 10/15/28                      | CONSOLIDATED ENERGY FIN REGD 144A P/P 5.62500000        | CUSIP: 20914UAF3<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    901000 | PA      | $760578.52    | 0.54%             | 2028-10-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| CSC HOLDINGS L 4.125% 12/01/30                      | CSC HOLDINGS LLC REGD 144A P/P 4.12500000               | CUSIP: 126307BB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    415000 | PA      | $272230.66    | 0.19%             | 2030-12-01      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| MATCH GROUP HL 4.125% 08/01/30                      | MATCH GROUP HLD II LLC REGD 144A P/P 4.12500000         | CUSIP: 57665RAL0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    434000 | PA      | $409036.54    | 0.29%             | 2030-08-01      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| TRINSEO LUX/TR 7.625% 05/03/29                      | TRINSEO LUX/TRINSEO NA REGD 144A P/P 7.62500000         | CUSIP: 89668JAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    430069 | PA      | $154824.84    | 0.11%             | 2029-05-03      | Fixed         | 7.62%                 | Yes           |                  2 | On Loan: No      |
| PARAMOUNT GLOBAL V/R 03/30/62                       | PARAMOUNT GLOBAL REGD V/R 6.37500000                    | CUSIP: 92556HAE7<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |    222000 | PA      | $222532.36    | 0.16%             | 2062-03-30      | Variable      | 6.38%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/C 4.25% 01/15/34                      | CCO HLDGS LLC/CAP CORP REGD 144A P/P 4.25000000         | CUSIP: 1248EPCP6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    630000 | PA      | $547519.46    | 0.39%             | 2034-01-15      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| BANIJAY ENTERT 8.125% 05/01/29                      | BANIJAY ENTERTAINMENT REGD 144A P/P 8.12500000          | CUSIP: 060335AB2<br>LEI: N/A                  | Long             | DBT              | CORP              | FR        |    755000 | PA      | $785993.51    | 0.56%             | 2029-05-01      | Fixed         | 8.12%                 | Yes           |                  2 | On Loan: No      |
| TTM TECHNOLOGIES I 4% 03/01/29                      | TTM TECHNOLOGIES INC REGD 144A P/P 4.00000000           | CUSIP: 87305RAK5<br>LEI: 549300SC4BDOIS008048 | Long             | DBT              | CORP              | US        |    730000 | PA      | $698950.55    | 0.49%             | 2029-03-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| CARNIVAL CORP 6.125% 02/15/33                       | CARNIVAL CORP REGD 144A P/P 6.12500000                  | CUSIP: 143658BX9<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | US        |    305000 | PA      | $313391.77    | 0.22%             | 2033-02-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| APOLLO CMMRL R 4.625% 06/15/29                      | APOLLO CMMRL REAL EST FI REGD 144A P/P 4.62500000       | CUSIP: 03762UAD7<br>LEI: 549300E0AN7M2AQHSY29 | Long             | DBT              | CORP              | US        |    803000 | PA      | $772518.36    | 0.55%             | 2029-06-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| PERFORMANCE FOOD 5.5% 10/15/27                      | PERFORMANCE FOOD GROUP I REGD 144A P/P 5.50000000       | CUSIP: 69346VAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    347000 | PA      | $346739.89    | 0.24%             | 2027-10-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| KODIAK GAS SERV 7.25% 02/15/29                      | KODIAK GAS SERVICES LLC REGD 144A P/P 7.25000000        | CUSIP: 50012LAC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    635000 | PA      | $657205.32    | 0.46%             | 2029-02-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| CROWN AMERICAS 5.875% 06/01/33                      | CROWN AMERICAS LLC REGD 144A P/P 5.87500000             | CUSIP: 228180AC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    195000 | PA      | $197420.34    | 0.14%             | 2033-06-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| TRAVEL + LEISU 6.125% 09/01/33                      | TRAVEL + LEISURE CO REGD 144A P/P 6.12500000            | CUSIP: 894164AC6<br>LEI: T4VNTWMFQ7JQB65L7T35 | Long             | DBT              | CORP              | US        |    370000 | PA      | $371518.60    | 0.26%             | 2033-09-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| CLEVELAND-CLIF 5.875% 06/01/27                      | CLEVELAND-CLIFFS INC REGD SER WI 5.87500000             | CUSIP: 185899AH4<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |     80000 | PA      | $79947.00     | 0.06%             | 2027-06-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| NUSTAR LOGISTI 6.375% 10/01/30                      | NUSTAR LOGISTICS LP REGD 6.37500000                     | CUSIP: 67059TAH8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    238000 | PA      | $246589.90    | 0.17%             | 2030-10-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CA 4.5% 05/01/32                      | CCO HLDGS LLC/CAP CORP REGD SER WI 4.50000000           | CUSIP: 1248EPCN1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    680000 | PA      | $622171.24    | 0.44%             | 2032-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GOEASY LTD 7.625% 07/01/29                          | GOEASY LTD REGD 144A P/P 7.62500000                     | CUSIP: 380355AJ6<br>LEI: 5493009DJVZG2P8YV435 | Long             | DBT              | CORP              | CA        |    297000 | PA      | $307757.04    | 0.22%             | 2029-07-01      | Fixed         | 7.62%                 | Yes           |                  2 | On Loan: No      |
| SILGAN HOLDING 4.125% 02/01/28                      | SILGAN HOLDINGS INC REGD 4.12500000                     | CUSIP: 827048AW9<br>LEI: KAF673KJXD92C8KSLU49 | Long             | DBT              | CORP              | US        |    417000 | PA      | $406153.04    | 0.29%             | 2028-02-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| DELEK LOG PART 7.375% 06/30/33                      | DELEK LOG PART/FINANCE REGD 144A P/P 7.37500000         | CUSIP: 24665FAE2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    535000 | PA      | $535716.90    | 0.38%             | 2033-06-30      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| NCL CORPORATION 6.25% 03/01/30                      | NCL CORPORATION LTD REGD 144A P/P 6.25000000            | CUSIP: 62886HBP5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    350000 | PA      | $355419.75    | 0.25%             | 2030-03-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| CLEARWAY ENERGY 3.75% 01/15/32                      | CLEARWAY ENERGY OP LLC REGD 144A P/P 3.75000000         | CUSIP: 18539UAE5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    700000 | PA      | $630345.45    | 0.45%             | 2032-01-15      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| BELL CANADA V/R 09/15/55                            | BELL CANADA REGD V/R 7.00000000                         | CUSIP: 0778FPAQ2<br>LEI: 5493000G3EFX9S7TDE29 | Long             | DBT              | CORP              | CA        |    330000 | PA      | $338425.23    | 0.24%             | 2055-09-15      | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| ZAYO GROUP HOL 6.125% 03/01/28                      | ZAYO GROUP HOLDINGS INC REGD 144A P/P 6.12500000        | CUSIP: 98919VAB1<br>LEI: 529900Z6OTS7RT0V0I47 | Long             | DBT              | CORP              | US        |    780000 | PA      | $725249.30    | 0.51%             | 2028-03-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| JANE STREET GR 6.125% 11/01/32                      | JANE STREET GRP/JSG FIN REGD 144A P/P 6.12500000        | CUSIP: 47077WAD0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    440000 | PA      | $442342.56    | 0.31%             | 2032-11-01      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| ION TRADING TEC 5.75% 05/15/28                      | ION TRADING TECHNOLOGIES REGD 144A P/P 5.75000000       | CUSIP: 46205YAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    490000 | PA      | $475749.62    | 0.34%             | 2028-05-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| HLF FIN SARL L 4.875% 06/01/29                      | HLF FIN SARL LLC/HERBALI REGD 144A P/P 4.87500000       | CUSIP: 40390DAC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    975000 | PA      | $858581.30    | 0.61%             | 2029-06-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| LADDER CAP FIN  4.25% 02/01/27                      | LADDER CAP FIN LLLP/CORP REGD 144A P/P 4.25000000       | CUSIP: 505742AM8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    305000 | PA      | $300232.64    | 0.21%             | 2027-02-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| SEAGATE DATA S 4.091% 06/01/29                      | SEAGATE DATA STOR REGD 144A P/P 4.09100000              | CUSIP: 81180LAK1<br>LEI: N/A                  | Long             | DBT              | CORP              | SG        |    210000 | PA      | $199835.60    | 0.14%             | 2029-06-01      | Fixed         | 4.09%                 | Yes           |                  2 | On Loan: No      |
| GENESIS ENERGY 7.875% 05/15/32                      | GENESIS ENERGY LP/FIN REGD 7.87500000                   | CUSIP: 37185LAQ5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     85000 | PA      | $88303.36     | 0.06%             | 2032-05-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| HLF FIN SARL L 12.25% 04/15/29                      | HLF FIN SARL LLC/HERBALI REGD 144A P/P 12.25000000      | CUSIP: 40390DAD7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    685000 | PA      | $746672.61    | 0.53%             | 2029-04-15      | Fixed         | 12.25%                | Yes           |                  2 | On Loan: No      |
| CARNIVAL CORP 6% 05/01/29                           | CARNIVAL CORP REGD 144A P/P 6.00000000                  | CUSIP: 143658BR2<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | US        |    749000 | PA      | $759100.27    | 0.54%             | 2029-05-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| BLACKSTONE MORT 7.75% 12/01/29                      | BLACKSTONE MORTGAGE TR REGD 144A P/P 7.75000000         | CUSIP: 09257WAF7<br>LEI: 549300OLDJ20R2Y2UW20 | Long             | DBT              | CORP              | US        |    646000 | PA      | $689312.36    | 0.49%             | 2029-12-01      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| LIFEPOINT HEAL 9.875% 08/15/30                      | LIFEPOINT HEALTH INC REGD 144A P/P 9.87500000           | CUSIP: 53219LAV1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    285000 | PA      | $308704.31    | 0.22%             | 2030-08-15      | Fixed         | 9.88%                 | Yes           |                  2 | On Loan: No      |
| SELECT MEDICAL  6.25% 12/01/32                      | SELECT MEDICAL CORP REGD 144A P/P 6.25000000            | CUSIP: 816196AV1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    535000 | PA      | $539108.27    | 0.38%             | 2032-12-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| XPLR INFRAST OP 7.25% 01/15/29                      | XPLR INFRAST OPERATING REGD 144A P/P 7.25000000         | CUSIP: 65342QAM4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    690000 | PA      | $705203.46    | 0.50%             | 2029-01-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| PARK RIVER HOLD 6.75% 08/01/29                      | PARK RIVER HOLDINGS INC REGD 144A P/P 6.75000000        | CUSIP: 70082LAB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    807000 | PA      | $764001.10    | 0.54%             | 2029-08-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| FLUTTER TREASU 5.875% 06/04/31                      | FLUTTER TREASURY DAC REGD 144A P/P 5.87500000           | CUSIP: 344045AB5<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |    675000 | PA      | $687713.63    | 0.49%             | 2031-06-04      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| WEATHERFORD IN 8.625% 04/30/30                      | WEATHERFORD INTERNATIONA REGD 144A P/P 8.62500000       | CUSIP: 947075AU1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    642000 | PA      | $658401.17    | 0.47%             | 2030-04-30      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| HILCORP ENERGY  5.75% 02/01/29                      | HILCORP ENERGY I/HILCORP REGD 144A P/P 5.75000000       | CUSIP: 431318AU8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    342000 | PA      | $337859.71    | 0.24%             | 2029-02-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| VENTURE GLOBAL P 7.5% 05/01/33                      | VENTURE GLOBAL PLAQUE REGD 144A P/P 7.50000000          | CUSIP: 922966AA4<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |     97000 | PA      | $106465.36    | 0.08%             | 2033-05-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| EQUIPMENTSHARE 8.625% 05/15/32                      | EQUIPMENTSHARE.COM INC REGD 144A P/P 8.62500000         | CUSIP: 29450YAB5<br>LEI: 254900PWJK48CGPKPI80 | Long             | DBT              | CORP              | US        |    522000 | PA      | $562936.28    | 0.40%             | 2032-05-15      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| ORGANON & CO/O 5.125% 04/30/31                      | ORGANON & CO/ORGANON FOR REGD 144A P/P 5.12500000       | CUSIP: 68622TAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    804000 | PA      | $689673.85    | 0.49%             | 2031-04-30      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| PETSMART LLC/PET 7.5% 09/15/32                      | PETSMART LLC/PETSMART FI REGD 144A P/P 7.50000000       | CUSIP: 71677KAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $247878.30    | 0.18%             | 2032-09-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| MOLINA HEALTHCA 6.25% 01/15/33                      | MOLINA HEALTHCARE INC REGD 144A P/P 6.25000000          | CUSIP: 60855RAM2<br>LEI: 549300NQQCEQ46YHZ591 | Long             | DBT              | CORP              | US        |    160000 | PA      | $161245.60    | 0.11%             | 2033-01-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| MINERALS TECHNOLOG 5% 07/01/28                      | MINERALS TECHNOLOGIES IN REGD 144A P/P 5.00000000       | CUSIP: 603158AA4<br>LEI: 549300D3I1QU67GP6403 | Long             | DBT              | CORP              | US        |    557000 | PA      | $549976.23    | 0.39%             | 2028-07-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| BAYTEX ENERGY  7.375% 03/15/32                      | BAYTEX ENERGY CORP REGD 144A P/P 7.37500000             | CUSIP: 07317QAK1<br>LEI: 549300R5LTV2H7I1I079 | Long             | DBT              | CORP              | CA        |    668000 | PA      | $653091.58    | 0.46%             | 2032-03-15      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| HARVEST MIDSTREA 7.5% 09/01/28                      | HARVEST MIDSTREAM I LP REGD 144A P/P 7.50000000         | CUSIP: 417558AA1<br>LEI: 549300DW5M17KJOXCY66 | Long             | DBT              | CORP              | US        |    770000 | PA      | $778729.49    | 0.55%             | 2028-09-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| CRESCENT ENERG 7.375% 01/15/33                      | CRESCENT ENERGY FINANCE REGD 144A P/P 7.37500000        | CUSIP: 45344LAE3<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |     74000 | PA      | $72362.80     | 0.05%             | 2033-01-15      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| ALTICE FINANCIN 5.75% 08/15/29                      | ALTICE FINANCING SA REGD 144A P/P 5.75000000            | CUSIP: 02154CAH6<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    607000 | PA      | $481745.55    | 0.34%             | 2029-08-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| VM CONSOLIDATED  5.5% 04/15/29                      | VM CONSOLIDATED INC REGD 144A P/P 5.50000000            | CUSIP: 91835HAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    684000 | PA      | $678097.35    | 0.48%             | 2029-04-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| EZCORP INC 7.375% 04/01/32                          | EZCORP INC REGD 144A P/P 7.37500000                     | CUSIP: 302301AJ5<br>LEI: 5493003K6PG3ZQ7TUQ63 | Long             | DBT              | CORP              | US        |    416000 | PA      | $439649.60    | 0.31%             | 2032-04-01      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| NEPTUNE BIDCO U 9.29% 04/15/29                      | NEPTUNE BIDCO US INC REGD 144A P/P 9.29000000           | CUSIP: 640695AA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1015000 | PA      | $1010056.95   | 0.71%             | 2029-04-15      | Fixed         | 9.29%                 | Yes           |                  2 | On Loan: No      |
| ILIAD HOLDING SAS 7% 10/15/28                       | ILIAD HOLDING SAS REGD 144A P/P 7.00000000              | CUSIP: 449691AC8<br>LEI: 9695009PXA7OI9NXN582 | Long             | DBT              | CORP              | FR        |    133000 | PA      | $135447.33    | 0.10%             | 2028-10-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| TEVA PHARMACEUTICA 6% 12/01/32                      | TEVA PHARMACEUTICALS NE REGD 6.00000000                 | CUSIP: 88167AAT8<br>LEI: N/A                  | Long             | DBT              | CORP              | NL        |    325000 | PA      | $334496.83    | 0.24%             | 2032-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| TEVA PHARMACEU 7.875% 09/15/29                      | TEVA PHARMACEUTICALS NE REGD SER .* 7.87500000          | CUSIP: 88167AAS0<br>LEI: N/A                  | Long             | DBT              | CORP              | NL        |    400000 | PA      | $437018.00    | 0.31%             | 2029-09-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| WILDFIRE INTERME 7.5% 10/15/29                      | WILDFIRE INTERMEDIATE HO REGD 144A P/P 7.50000000       | CUSIP: 96812HAA6<br>LEI: 5493003RHEMQJZEXIR02 | Long             | DBT              | CORP              | US        |    582000 | PA      | $591906.80    | 0.42%             | 2029-10-15      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| GEN DIGITAL INC 6.25% 04/01/33                      | GEN DIGITAL INC REGD 144A P/P 6.25000000                | CUSIP: 668771AM0<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | DBT              | CORP              | US        |    354000 | PA      | $364903.91    | 0.26%             | 2033-04-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| CSC HOLDINGS LL 5.75% 01/15/30                      | CSC HOLDINGS LLC REGD 144A P/P 5.75000000               | CUSIP: 126307BA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    510000 | PA      | $240344.69    | 0.17%             | 2030-01-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| BELL CANADA V/R 09/15/55                            | BELL CANADA REGD V/R 6.87500000                         | CUSIP: 0778FPAP4<br>LEI: 5493000G3EFX9S7TDE29 | Long             | DBT              | CORP              | CA        |    438000 | PA      | $448365.71    | 0.32%             | 2055-09-15      | Variable      | 6.88%                 | No            |                  2 | On Loan: No      |
| HOWARD MIDSTRE 6.625% 01/15/34                      | HOWARD MIDSTREAM ENERGY REGD 144A P/P 6.62500000        | CUSIP: 442722AD6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     35000 | PA      | $35579.75     | 0.03%             | 2034-01-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| BALDWIN INSUR  7.125% 05/15/31                      | BALDWIN INSUR GRP/FIN REGD 144A P/P 7.12500000          | CUSIP: 05825XAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    520000 | PA      | $540017.92    | 0.38%             | 2031-05-15      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| HILTON GRAND V 4.875% 07/01/31                      | HILTON GRAND VAC LLC/INC REGD 144A P/P 4.87500000       | CUSIP: 43284MAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    961000 | PA      | $895366.58    | 0.63%             | 2031-07-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| CSC HOLDINGS LLC 4.5% 11/15/31                      | CSC HOLDINGS LLC REGD 144A P/P 4.50000000               | CUSIP: 126307BH9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $129893.12    | 0.09%             | 2031-11-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| MEDLINE BORROWE 6.25% 04/01/29                      | MEDLINE BORROWER/MEDL CO REGD 144A P/P 6.25000000       | CUSIP: 58506DAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    625000 | PA      | $642858.75    | 0.45%             | 2029-04-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| ARDAGH METAL PA 3.25% 09/01/28                      | ARDAGH METAL PACKAGING REGD 144A P/P 3.25000000         | CUSIP: 03969YAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    875000 | PA      | $827575.18    | 0.58%             | 2028-09-01      | Fixed         | 3.25%                 | Yes           |                  2 | On Loan: No      |
| BRINKER INTERNA 8.25% 07/15/30                      | BRINKER INTERNATIONAL IN REGD 144A P/P 8.25000000       | CUSIP: 109641AK6<br>LEI: 52990067JY6PBGJNTG76 | Long             | DBT              | CORP              | US        |    630000 | PA      | $670239.36    | 0.47%             | 2030-07-15      | Fixed         | 8.25%                 | Yes           |                  2 | On Loan: No      |
| VENTURE GLOBAL 8.375% 06/01/31                      | VENTURE GLOBAL LNG INC REGD 144A P/P 8.37500000         | CUSIP: 92332YAB7<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |   1263000 | PA      | $1325888.56   | 0.94%             | 2031-06-01      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| UNITED AIRLINE 4.375% 04/15/26                      | UNITED AIRLINES INC REGD 144A P/P 4.37500000            | CUSIP: 90932LAG2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    106000 | PA      | $105718.99    | 0.07%             | 2026-04-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| LBM ACQUISITION  9.5% 06/15/31                      | LBM ACQUISITION LLC REGD 144A P/P 9.50000000            | CUSIP: 52109SAB5<br>LEI: 549300FAEB3VWZL4NI86 | Long             | DBT              | CORP              | US        |    375000 | PA      | $393382.50    | 0.28%             | 2031-06-15      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| VISTRA OPERATIO 7.75% 10/15/31                      | VISTRA OPERATIONS CO LLC REGD 144A P/P 7.75000000       | CUSIP: 92840VAP7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    170000 | PA      | $180724.11    | 0.13%             | 2031-10-15      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| GEN DIGITAL IN 7.125% 09/30/30                      | GEN DIGITAL INC REGD 144A P/P 7.12500000                | CUSIP: 668771AL2<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | DBT              | CORP              | US        |    198000 | PA      | $205116.52    | 0.14%             | 2030-09-30      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| CONNECT FINCO SARL 9% 09/15/29                      | CONNECT FINCO SARL/CONNE REGD 144A P/P 9.00000000       | CUSIP: 20752TAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    715000 | PA      | $745688.52    | 0.53%             | 2029-09-15      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| LADDER CAP FIN LLL 7% 07/15/31                      | LADDER CAP FIN LLLP/CORP REGD 144A P/P 7.00000000       | CUSIP: 505742AR7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    340000 | PA      | $357731.00    | 0.25%             | 2031-07-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| SABLE INTL FIN 7.125% 10/15/32                      | SABLE INTL FINANCE LTD REGD 144A P/P 7.12500000         | CUSIP: 785712AK6<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    535000 | PA      | $544494.65    | 0.38%             | 2032-10-15      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| CSC HOLDINGS LLC 6.5% 02/01/29                      | CSC HOLDINGS LLC REGD 144A P/P 6.50000000               | CUSIP: 126307AZ0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $157813.63    | 0.11%             | 2029-02-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| TEVA PHARM FIN  5.75% 12/01/30                      | TEVA PHARM FIN IV REGD 5.75000000                       | CUSIP: 881937AA4<br>LEI: N/A                  | Long             | DBT              | CORP              | NL        |    325000 | PA      | $332410.65    | 0.23%             | 2030-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| WESCO DISTRIBU 6.375% 03/15/33                      | WESCO DISTRIBUTION INC REGD 144A P/P 6.37500000         | CUSIP: 95081QAS3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    504000 | PA      | $523049.69    | 0.37%             | 2033-03-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| ALLIANT HOLD / C 6.5% 10/01/31                      | ALLIANT HOLD / CO-ISSUER REGD 144A P/P 6.50000000       | CUSIP: 01883LAG8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    590000 | PA      | $603850.84    | 0.43%             | 2031-10-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| FORTESCUE TREA 4.375% 04/01/31                      | FORTESCUE TREASURY PTY L REGD 144A P/P 4.37500000       | CUSIP: 30251GBC0<br>LEI: N/A                  | Long             | DBT              | CORP              | AU        |   1160000 | PA      | $1103778.74   | 0.78%             | 2031-04-01      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| GOEASY LTD 6.875% 02/15/31                          | GOEASY LTD REGD 144A P/P 6.87500000                     | CUSIP: 380355AR8<br>LEI: 5493009DJVZG2P8YV435 | Long             | DBT              | CORP              | CA        |    155000 | PA      | $155264.11    | 0.11%             | 2031-02-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| KENNEDY-WILSON  4.75% 02/01/30                      | KENNEDY-WILSON INC REGD 4.75000000                      | CUSIP: 489399AN5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     41000 | PA      | $38465.38     | 0.03%             | 2030-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| MINERAL RESOURCE 8.5% 05/01/30                      | MINERAL RESOURCES LTD REGD 144A P/P MTN 8.50000000      | CUSIP: 603051AD5<br>LEI: 5299007V1ACKFFX2P066 | Long             | DBT              | CORP              | AU        |    639000 | PA      | $663735.05    | 0.47%             | 2030-05-01      | Fixed         | 8.50%                 | Yes           |                  2 | On Loan: No      |
| ATLANTICA SUST 4.125% 06/15/28                      | ATLANTICA SUSTAIN INFRA REGD 144A P/P 4.12500000        | CUSIP: 04916WAA2<br>LEI: 549300ITBBGKJ651R879 | Long             | DBT              | CORP              | GB        |    638000 | PA      | $619284.14    | 0.44%             | 2028-06-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| CROWN AMERICAS  5.25% 04/01/30                      | CROWN AMERICAS LLC REGD 5.25000000                      | CUSIP: 228180AB1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    474000 | PA      | $480577.22    | 0.34%             | 2030-04-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CIVITAS RESOUR 8.625% 11/01/30                      | CIVITAS RESOURCES INC REGD 144A P/P 8.62500000          | CUSIP: 17888HAC7<br>LEI: IIVIHPH28S64K95M2381 | Long             | DBT              | CORP              | US        |    397000 | PA      | $413550.93    | 0.29%             | 2030-11-01      | Fixed         | 8.62%                 | Yes           |                  2 | On Loan: No      |
| UNIVISION COMM 9.375% 08/01/32                      | UNIVISION COMMUNICATIONS REGD 144A P/P 9.37500000       | CUSIP: 914906BA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    505000 | PA      | $532171.53    | 0.38%             | 2032-08-01      | Fixed         | 9.38%                 | Yes           |                  2 | On Loan: No      |
| HILCORP ENERGY I/H 6% 02/01/31                      | HILCORP ENERGY I/HILCORP REGD 144A P/P 6.00000000       | CUSIP: 431318AV6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $48231.90     | 0.03%             | 2031-02-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| VISTRA OPERATI 6.875% 04/15/32                      | VISTRA OPERATIONS CO LLC REGD 144A P/P 6.87500000       | CUSIP: 92840VAR3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    320000 | PA      | $336010.56    | 0.24%             | 2032-04-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| PATTERN ENERGY O 4.5% 08/15/28                      | PATTERN ENERGY OP LP/PAT REGD 144A P/P 4.50000000       | CUSIP: 70339PAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    910000 | PA      | $887527.64    | 0.63%             | 2028-08-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| MAGNERA CORP 4.75% 11/15/29                         | MAGNERA CORP REGD 144A P/P 4.75000000                   | CUSIP: 377320AA4<br>LEI: 549300LDQLQBT38QDY28 | Long             | DBT              | CORP              | US        |    622000 | PA      | $549990.06    | 0.39%             | 2029-11-15      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| PLANET FINANCIA 10.5% 12/15/29                      | PLANET FINANCIAL GROUP REGD 144A P/P 10.50000000        | CUSIP: 72702AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    705000 | PA      | $730447.68    | 0.52%             | 2029-12-15      | Fixed         | 10.50%                | Yes           |                  2 | On Loan: No      |
| HERTZ CORP/THE 4.625% 12/01/26                      | HERTZ CORP/THE REGD 144A P/P 4.62500000                 | CUSIP: 428040DA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    367000 | PA      | $340526.97    | 0.24%             | 2026-12-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| MAUSER PACKAGI 7.875% 08/15/26                      | MAUSER PACKAGING SOLUT REGD 144A P/P 7.87500000         | CUSIP: 57763RAB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    244000 | PA      | $243661.60    | 0.17%             | 2026-08-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| BLOCK INC 6% 08/15/33                               | BLOCK INC REGD 144A P/P 6.00000000                      | CUSIP: 852234AU7<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |    160000 | PA      | $164294.93    | 0.12%             | 2033-08-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| BLOCK INC 6.5% 05/15/32                             | BLOCK INC REGD 6.50000000                               | CUSIP: 852234AS2<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |    390000 | PA      | $404220.47    | 0.29%             | 2032-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY  7.25% 02/15/35                      | HILCORP ENERGY I/HILCORP REGD 144A P/P 7.25000000       | CUSIP: 431318BG8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    175000 | PA      | $170948.89    | 0.12%             | 2035-02-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| WEX INC 6.5% 03/15/33                               | WEX INC REGD 144A P/P 6.50000000                        | CUSIP: 96208TAD6<br>LEI: T9M5IGROL1TL1G5OV478 | Long             | DBT              | CORP              | US        |    544000 | PA      | $557003.64    | 0.39%             | 2033-03-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| ACRISURE LLC /  6.75% 07/01/32                      | ACRISURE LLC / FIN INC REGD 144A P/P 6.75000000         | CUSIP: 004961AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    666000 | PA      | $683820.63    | 0.48%             | 2032-07-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| CABLE ONE INC 4% 11/15/30                           | CABLE ONE INC REGD 144A P/P 4.00000000                  | CUSIP: 12685JAC9<br>LEI: 549300648QS85T0XSH18 | Long             | DBT              | CORP              | US        |    905000 | PA      | $749758.38    | 0.53%             | 2030-11-15      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| CLEVELAND-CLIFFS I 7% 03/15/32                      | CLEVELAND-CLIFFS INC REGD 144A P/P 7.00000000           | CUSIP: 185899AP6<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |    330000 | PA      | $328510.31    | 0.23%             | 2032-03-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| CEC ENTERTAINME 6.75% 05/01/26                      | CEC ENTERTAINMENT LLC REGD 144A P/P 6.75000000          | CUSIP: 125137AC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    894000 | PA      | $891587.81    | 0.63%             | 2026-05-01      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| ENERSYS 6.625% 01/15/32                             | ENERSYS REGD 144A P/P 6.62500000                        | CUSIP: 29275YAF9<br>LEI: 7ZS3DE5PN30BYUJFWP05 | Long             | DBT              | CORP              | US        |     29000 | PA      | $29906.48     | 0.02%             | 2032-01-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| AMERICAN AIRLIN 7.25% 02/15/28                      | AMERICAN AIRLINES INC REGD 144A P/P 7.25000000          | CUSIP: 023771T32<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    615000 | PA      | $631308.57    | 0.45%             | 2028-02-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| ATI INC 5.125% 10/01/31                             | ATI INC REGD 5.12500000                                 | CUSIP: 01741RAM4<br>LEI: ZW1LRE7C3H17O2ZN9B45 | Long             | DBT              | CORP              | US        |    210000 | PA      | $205090.54    | 0.14%             | 2031-10-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| NCR VOYIX CORP 5.125% 04/15/29                      | NCR VOYIX CORP REGD 144A P/P 5.12500000                 | CUSIP: 62886EBA5<br>LEI: 549300YKTY8JX1DV2R67 | Long             | DBT              | CORP              | US        |     62000 | PA      | $61285.47     | 0.04%             | 2029-04-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| VOYAGER PARENT  9.25% 07/01/32                      | VOYAGER PARENT LLC REGD 144A P/P 9.25000000             | CUSIP: 92921EAA0<br>LEI: 2549002DYVI4ACSV4V71 | Long             | DBT              | CORP              | US        |    755000 | PA      | $797289.06    | 0.56%             | 2032-07-01      | Fixed         | 9.25%                 | Yes           |                  2 | On Loan: No      |
| HERC HOLDINGS I 7.25% 06/15/33                      | HERC HOLDINGS INC REGD 144A P/P 7.25000000              | CUSIP: 42704LAG9<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |    455000 | PA      | $477614.87    | 0.34%             | 2033-06-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| COMMSCOPE LLC 4.75% 09/01/29                        | COMMSCOPE LLC REGD 144A P/P 4.75000000                  | CUSIP: 203372AX5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      2000 | PA      | $1978.50      | 0.00%             | 2029-09-01      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| ASHTON WOODS U 6.875% 08/01/33                      | ASHTON WOODS USA/FINANCE REGD 144A P/P 6.87500000       | CUSIP: 045086AR6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    695000 | PA      | $697778.61    | 0.49%             | 2033-08-01      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| XPLR INFRAST OPE 4.5% 09/15/27                      | XPLR INFRAST OPERATING REGD 144A P/P 4.50000000         | CUSIP: 65342QAB8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    445000 | PA      | $436698.30    | 0.31%             | 2027-09-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| HERTZ CORP/TH 12.625% 07/15/29                      | HERTZ CORP/THE REGD 144A P/P 12.62500000                | CUSIP: 428040DC0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    315000 | PA      | $327601.26    | 0.23%             | 2029-07-15      | Fixed         | 12.62%                | Yes           |                  2 | On Loan: No      |
| CRESCENT ENERG 7.625% 04/01/32                      | CRESCENT ENERGY FINANCE REGD 144A P/P 7.62500000        | CUSIP: 45344LAD5<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |    387000 | PA      | $385940.86    | 0.27%             | 2032-04-01      | Fixed         | 7.62%                 | Yes           |                  2 | On Loan: No      |
| GRUBHUB HOLDINGS 5.5% 07/01/27                      | GRUBHUB HOLDINGS INC REGD 144A P/P 5.50000000           | CUSIP: 40010PAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    784000 | PA      | $782100.92    | 0.55%             | 2027-07-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| AIRCASTLE LTD V/R /PERP/                            | AIRCASTLE LTD REGD V/R /PERP/ 144A P/P 5.25000000       | CUSIP: 00928QAW1<br>LEI: 549300PNK8AKY3OIKP58 | Long             | DBT              | CORP              | US        |    735000 | PA      | $732133.57    | 0.52%             | 2173-09-15      | Variable      | 5.25%                 | Yes           |                  2 | On Loan: No      |
| HAT HOLDINGS I LLC 8% 06/15/27                      | HAT HOLDINGS I LLC/HAT REGD 144A P/P 8.00000000         | CUSIP: 418751AL7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    156000 | PA      | $162005.24    | 0.11%             | 2027-06-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CR 6% 02/01/33                      | ROYAL CARIBBEAN CRUISES REGD 144A P/P 6.00000000        | CUSIP: 780153BV3<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | US        |    735000 | PA      | $755610.14    | 0.53%             | 2033-02-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| METHANEX US OPE 6.25% 03/15/32                      | METHANEX US OPERATIONS REGD 144A P/P 6.25000000         | CUSIP: 59151LAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    800000 | PA      | $807820.80    | 0.57%             | 2032-03-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| VENTURE GLOBAL  7.75% 05/01/35                      | VENTURE GLOBAL PLAQUE REGD 144A P/P 7.75000000          | CUSIP: 922966AB2<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |    558000 | PA      | $621612.00    | 0.44%             | 2035-05-01      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| GENESIS ENERGY LP/ 8% 05/15/33                      | GENESIS ENERGY LP/FIN REGD 8.00000000                   | CUSIP: 37185LAR3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    110000 | PA      | $114975.63    | 0.08%             | 2033-05-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| GREYSTAR REAL E 7.75% 09/01/30                      | GREYSTAR REAL ESTATE PAR REGD 144A P/P 7.75000000       | CUSIP: 39807UAD8<br>LEI: 254900HGC806SXAS4M46 | Long             | DBT              | CORP              | US        |    495000 | PA      | $524409.93    | 0.37%             | 2030-09-01      | Fixed         | 7.75%                 | Yes           |                  2 | On Loan: No      |
| ARBOR REALTY S 7.875% 07/15/30                      | ARBOR REALTY SR INC REGD 144A P/P 7.87500000            | CUSIP: 03881NAJ6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    890000 | PA      | $926553.19    | 0.65%             | 2030-07-15      | Fixed         | 7.88%                 | Yes           |                  2 | On Loan: No      |
| MATTAMY GROUP  4.625% 03/01/30                      | MATTAMY GROUP CORP REGD 144A P/P 4.62500000             | CUSIP: 57701RAM4<br>LEI: 5493008TNY7A82WCXU31 | Long             | DBT              | CORP              | CA        |    446000 | PA      | $427516.02    | 0.30%             | 2030-03-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| LBM ACQUISITION 6.25% 01/15/29                      | LBM ACQUISITION LLC REGD 144A P/P 6.25000000            | CUSIP: 05552BAA4<br>LEI: 549300FAEB3VWZL4NI86 | Long             | DBT              | CORP              | US        |    686000 | PA      | $630262.16    | 0.45%             | 2029-01-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| EQUIPMENTSHARE.COM 8% 03/15/33                      | EQUIPMENTSHARE.COM INC REGD 144A P/P 8.00000000         | CUSIP: 29450YAC3<br>LEI: 254900PWJK48CGPKPI80 | Long             | DBT              | CORP              | US        |    395000 | PA      | $420054.46    | 0.30%             | 2033-03-15      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| HELIOS SOFT/IO 4.625% 05/01/28                      | HELIOS SOFT/ION CORP SOL REGD 144A P/P 4.62500000       | CUSIP: 42329HAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    450000 | PA      | $425902.64    | 0.30%             | 2028-05-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| CLYDESDALE ACQU 6.75% 04/15/32                      | CLYDESDALE ACQUISITION REGD 144A P/P 6.75000000         | CUSIP: 18972EAD7<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |    105000 | PA      | $107955.76    | 0.08%             | 2032-04-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| BREAD FINANCIAL 9.75% 03/15/29                      | BREAD FINANCIAL HLDGS REGD 144A P/P 9.75000000          | CUSIP: 018581AP3<br>LEI: 549300G8S4PO686J7H97 | Long             | DBT              | CORP              | US        |    345000 | PA      | $368909.88    | 0.26%             | 2029-03-15      | Fixed         | 9.75%                 | Yes           |                  2 | On Loan: No      |
| FORTRESS INTERME 7.5% 06/01/31                      | FORTRESS INTERMEDIATE REGD 144A P/P 7.50000000          | CUSIP: 34966MAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    520000 | PA      | $547528.28    | 0.39%             | 2031-06-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-09-30

**Name of Applicant:** Morgan Stanley Pathway Funds

**Signature:** Francis Smith

**Name of Signer:** Francis Smith

**Title:** Chief Financial Officer